Japan expects worst recession amid pandemic
Japan's economy shrank less than initially estimated in the first quarter but the broad impact from the coronavirus crisis is still expected to send the country deeper into recession.
CEO: South Pars refinery overhaul to begin in October
The operations to overhaul the sixth refinery of the South Pars Gas Field in southern Iran is planned to begin in October.
OPEC agree to extend oil production cuts through July
OPEC members and other key oil producers agreed Saturday to extend historic output cuts through July, as oil prices tentatively recover and coronavirus lockdowns ease.
IRPC: UAE, China, Iraq makes up 54% share of non-oil exports
Iranian Parliament Research Center (IPRC) said that the three countries [including the United Arab Emirates [UAE], China and Iraq] accounted for about 54 percent share of Iran’s total value of non-oil goods in 2018.
IME trade surpasses $880m this week
Iran Mercantile Exchange (IME) announced on Saturday that 673,518 tons of commodities valued at over $880 million were traded in its domestic trading and export halls in the past week (which ended June 4).
OPEC, Russia set to extend oil cuts, push for compliance
OPEC, Russia, and their allies hold talks on Saturday on extending record oil production cuts that have doubled oil prices since April.
IRICA: Iranian trucks enter Turkey after borders reopened
A total number of 150 Iranian trucks entered neighboring Turkey on Friday after the resumption of border trade between the two countries.
Iran, Brazil seek long-term economic ties
Iranian envoy to Brasilia Hossein Gharibi expressed Iran’s interest in establishing long-term economic relations with Brazil through a comprehensive framework.
‘Too simplistic’ to think world is uniting to cut Iran’s overflight revenues
An official with Iran Airports Company reacted to a report which indicates US efforts to settle disputes between Qatar and other Persian Gulf countries in a bid to cut Iran’s overflight revenues.
Investment in Iran mining sector rises
The Iranian mining sector has seen a significant surge in investment for new projects, a sign the country is intent on taking benefit of its massive mineral reserves.