TEHRAN (Iran News) – Iranian First Vice-President Eshaq Jahangiri said that despite the US government’s severe sanctions against the country, the Islamic Republic’s economy is moving toward a better and more stable situation. “Despite the US’ imposition of tough sanctions, Iran’s economy is moving toward stability and improvement,” Jahangiri said in a speech in Tehran […]

China’s state oil firm has pulled out of a $5bn deal to develop a portion of Iran’s massive offshore natural gas field, the Islamic republic’s oil minister said on Sunday, an agreement from which France’s Total SA earlier withdrew over US sanctions. The South Pars field deal, struck in the wake of Iran’s 2015 nuclear […]

Tehran (Iran News) – Iranian Oil Minister Bijan Namdar Zanganeh said the country plans to construct an LNG park with an annual capacity to produce three million tons of liquefied natural gas. “We are planning to enter the LNG industry tapping into domestic capabilities and with the help of Iranian companies to build an LNG […]

TEHRAN (Iran News) – Iran’s First Vice President Es’haq Jahangiri said the government needs private sector for progress and development in the country. He made he remarks in a meeting with the heads of the country’s Chambers of Commerce, Industries, Mines and Agriculture in Tehran on Saturday, for discussing the private sector’s contribution in the […]

Tehran (Iran News) – Iranian Oil Minister Bijan Namdar Zanganeh said on Sunday that Iran will use any possible way to export its oil, stressing that exporting crude was the country’s legitimate right. “We will use every possible way to export our oil and we will not succumb to America’s pressure because exporting oil is […]

Back in 2012, the world’s best-managed pension fund was thrown a lifeline by the Danish government to help contain liabilities. That was when interest rates were still positive. Iran News quotes the analysis of Bloomberg. Seven years later, with rates now well below zero, even Denmark’s $440 billion pension system says the environment has become […]

Tehran (Iran News) – Iranian Energy Minister Reza Ardakanian plans to inaugurate 8 major power projects in the southwestern province of Kohgiluyeh and Boyer-Ahmad on Saturday. In a statement released on Friday, the Iran Power Generation Transmission and Distribution Management Company (Tavanir) announced that during Ardakanian’s visit to Kohgiluyeh and Boyer-Ahmad Province on Saturday, the […]

Tehran (Iran News) –Azerbaijani Economy Minister Shahin Mustafayev said on Saturday that Baku, Moscow and Tehran are preparing to create a North-South energy corridor. “A feasibility study is currently being prepared on the creation of the Azerbaijan-Russia-Iran ‘North-South’ energy corridor. All of these works expand our cooperation in the energy sector,” Sputnik news agency reported. […]

TEHRAN (Iran News) – Iran’s Finance and Economic Affairs Minister Farhad Dejpasand said banking reform plan has been prepared by the ministry and handed over to President Rouhani in late September. Speaking in a meeting with the CEOs of government-owned banks, Dejpasand noted that the ministry will follow up on the provided solutions in the […]

Iran’s stock market, for a long time dogged by US sanctions, has notched up a notable achievement: Ranking among the world’s best performing over the past 12 months, as domestic investors seek refuge from rampant inflation. A collapse in the rial against the dollar has triggered a huge spike in prices, with the official inflation […]