Iran’s economy grows 2.9% in H1 fiscal year
Iran’s gross domestic product (GDP) expanded by 2.9% year-on-year in the first half of the current Iranian calendar year (March 20 – September 21), according to a new report from the country’s central bank.
Structural Reforms Needed in Oil Refining Sector
TEHRAN - The First Vice President of Iran emphasized the need for structural reforms in the oil refining sector, calling for the adoption of high-tech solutions and the talents of the country’s skilled youth.
Turkish Capital Markets Regulator Welcomes Expanded Cooperation With Iranian Exchanges
TEHRAN - During the sidelines of the "GEM Committee" meeting in Turkey, the Iranian delegation, led by the representative of Iran's Securities and Exchange Organization (SEO), presented an official letter from Hojjatollah Seyedi, the head of Iran’s SEO, to his Turkish counterpart. This letter emphasized Iran's readiness for bilateral cooperation in areas of mutual interest, which was warmly received by the Turkish side.
Iran annual inflation rate down 0.6% to 32.5% in December
Iran's annual inflation rate for the calendar month to late December dropped to 32.5%, marking a 0.6 percentage point decline compared to the previous month, the Statistical Center of Iran (SCI) reported on Sunday.
Iranian Contractors Exit Syria, Turks Take Lead in Global Markets
TEHRAN - Iraj Golabtonchi, Secretary of the Syndicate of Iranian Construction Companies, spoke at a press conference for the Annual National Conference of the International Concrete Institute (ACI) Iran Branch and the National Conference on Concrete and Earthquakes. Discussing the involvement of Iranian companies abroad and the export of technical and engineering services, he stated that since 1995, Iranian contractors have undertaken $35 billion worth of projects globally.
$35b in Engineering Services Exported by Iran Over Three Decades
TEHRAN - The Secretary of the Iranian Construction Companies Syndicate announced that Iranian companies and the private sector have exported $35 billion worth of engineering and technical services since 1995.
5% Share of Knowledge-Based Products in National Exports
TEHRAN - The head of Iran's Trade Development Organization announced that in 2023, knowledge-based companies accounted for 2.6% of the total export weight and 5% of the export value.
Gas Overconsumption in Iran: 3.3 Times the Global Average; Saving 50 Million Cubic Meters Possible
TEHRAN - The CEO of the National Iranian Gas Company (NIGC) revealed that Iran's gas consumption is 3.3 times the global average, emphasizing that adopting efficient usage practices could save 50 million cubic meters of natural gas daily.
Iran-Egypt Trade Sees 67% Growth
TEHRAN - The spokesman for the Trade Development Commission of Iran's Industry, Mine, and Trade House reported a trade volume of $17.186 million between Tehran and Cairo over the past eight months, marking a 67% increase compared to the same period last year.
Currency Suppression Undermines Competitive Edge of Knowledge-Based Companies
Currency Suppression Undermines Competitive Edge of Knowledge-Based Companies TEHRAN (Iran News) TEHRAN – Minister of Economic Affairs and Finance, Abdolnasser Hemmati, highlighted the detrimental effects of currency suppression on the competitive capabilities of knowledge-based companies in the country. Speaking on December 17, 2023, during a press conference held after the signing ceremony of a memorandum of […]