Iranian President Hassan Rouhani appointed the ex-governor of the Central Bank of Iran (CBI), Valiollah Seif, as his special advisor for monetary and banking affairs. Despite the critics repeatedly lashed out at Seif for his policies, in particular those about foreign currency market during his office at CBI, Rouhani selected him as his advisor in […]

 US sanctions on Iran’s energy industry, when they come into effect in November, could potentially drive oil prices above $100 per barrel, according to an industry expert. US West Texas Intermediate crude oil futures traded at about $68 per barrel on Tuesday, while Brent crude futures sat at nearly $78, CNBC reported. “If there was […]

Iran’s state grains buyer Governmental Trading Corporation (GTC) has issued an international tender to buy 30,000 tons of rice to be sourced from India, European traders said on Monday. The tender closes on October 9. The sella grade rice of type 1121 is sought in two 15,000 ton consignments for shipment in containers between October […]

 Iran’s revenues from crude oil and oil products exports reached 419 trillion rials (about $9.98 billion) in the first four months of the current Iranian calendar year (March 21-July 22, 2018) up 60.7 percent compared to its preceding year’s same period. The country’s crude oil sales reached 348.9 trillion rials (about $8.3 billion) in the […]

Seven development projects worth 700 billion rials (about $16.6 million) were launched at Tehran’s Mehrabad International Airport, according to the director general of the airport. Mir-Saeed Safinia said the projects have been handed over to the contractors and are scheduled to be completed within 18 months, IRIB reported on Tuesday. He mentioned conducting some improvements […]

 The number of trading codes issued in Tehran Stock Exchange (TSE) has increased 45 percent since the beginning of current Iranian calendar year (March 21) compared to the same period of time in the previous year, TSE spokesman Hamid Rouhbakhsh told IRIB on Monday. Some 72,000 trading codes have been issued in the TSE since […]

 The National Iranian Oil Company (NIOC) has set the official selling price (OSP) of its light crude for Asian buyers at $1.1 a barrel above the average of Oman and Dubai quotes, 10 cents higher than the previous month, Reuters reported quoting a source with knowledge of the matter. September OSP for Iranian Heavy crude […]

 Some 46 power and water projects at the value of 243 trillion rials (about $5.7 billion) were offered to the private sector during a ceremony attended by Iranian Vice President Es’haq Jahangiri on Tuesday. The offered projects to the private sector include Ofoq Power Plant (in the southwestern province of Khuzestan) with the capacity of […]

Director of Maritime and Ports Office of Bandar Lengeh port Ghasem Askarinasab said on Tuesday that non-oil exports from this port has increased by 36% compared to the same period last year. More than 4.90 million tons of non-oil goods were exported from western ports of southern Hormozgan province during the first five months of […]

In a directive issued by the Central Bank of Iran (CBI), supply of currency obtained from exports will accelerate. Central Bank of Iran (CBI) notified the executive instruction to the responsible organizations in six paragraphs on the removal of currency obligations of exporters and return of currency obtained from export of goods to the economic […]