Thursday, 21 August , 2025
  • Tehran Chamber Warns of Widespread Stagflation 20 Aug 2025

    Tehran Chamber Warns of Widespread Stagflation

    TEHRAN - The 29th monthly session of the Tehran Chamber of Commerce’s 10th board convened with sharp warnings from private sector representatives and government officials over mounting economic challenges, from shortages in animal feed to rising energy costs, stagnant investment, and signs of deepening stagflation.

Iran Not to Comply with Illegal US Sanctions 11 Jan 2019

Iran Not to Comply with Illegal US Sanctions

 Iran will not be complying with the “fully illegal” US sanctions, Iranian Oil Minister Bijan Zanganeh said on Thursday, in yet another defiant statement from Tehran after the American sanctions on Iran’s oil and shipping industry snapped back in early November. “We believe that we should not comply with the illegal sanctions against Iran,” Reuters […]

India begins paying Iran for oil in rupees: official 10 Jan 2019

India begins paying Iran for oil in rupees: official

India has begun paying Iran for oil in rupees, Reuters reported quoting an Indian senior bank official as saying on Tuesday. It is the first such payment since the United States imposed new sanctions against Iran in November. The U.S. has given a six-month waiver to eight countries including India for imports of Iranian oil. […]

‘Banking system reformations on CBI agenda’ 10 Jan 2019

‘Banking system reformations on CBI agenda’

“The plan on amending domestic banking system is being investigated comprehensively and will become operational after getting prepared,” the governor of the Central Bank of Iran (CBI) announced in social media. According to Abdolnaser Hemmati, CBI’s Money and Credit Council has approved two major foreign currency exchange mechanisms, the first is formation of ‘an organized […]

Turkey resumes oil import from Iran 10 Jan 2019

Turkey resumes oil import from Iran

Turkey has resumed imports of Iranian crude oil under the U.S. sanctions waiver, according to the trading and shipping sources. The country restarted oil imports from Iran after a one-month stop in November when U.S. sanctions on Iran were reimposed, Reuters reported on Tuesday. Turkey used to import about 200,000 barres per day (bpd) of […]

TPO to dispatch trade delegation to Japan in early March 10 Jan 2019

TPO to dispatch trade delegation to Japan in early March

 Iran’s Trade and Promotion Organization (TPO) plans to dispatch a trade and marketing delegation to Japan in early March. The delegates active in the agriculture and food sectors are to visit the 44th International Exhibition of Food and Beverages (Foodex 2019) which is planned to be held at Makuhari Messe in Japan during March 5-8, […]

Indian refiners paying for Iranian oil in rupees: UCO Bank 09 Jan 2019

Indian refiners paying for Iranian oil in rupees: UCO Bank

 India has begun paying Iran for oil in rupees, a senior bank official said on Tuesday, the first such payments since the United States imposed new sanctions against Tehran in November. Washington gave a six-month waiver to eight countries, including India, allowing them to import some Iranian oil after the US unilaterally withdrew from the […]

Iran tea exports earn over $17 mn in 9 months 09 Jan 2019

Iran tea exports earn over $17 mn in 9 months

 Head of Iran’s Tea Organization Habib Jahansaz said Iran has exported about 13000 tons of tea worth $17 million during the first nine months of the current Iranian year (March 21-Dec. 21, 2018). Speaking to IRIB on Tuesday, Jahansaz said the government purchased about 112,000 tons of fresh tea leaves from local farmers in the north of Iran; […]

Currency reconversion not a turning point in economic reformation 09 Jan 2019

Currency reconversion not a turning point in economic reformation

One of Iran’s main economic policies, under the framework of the sixth five-year development plan, is modification of banking system and reformation of monetary policies, moving forward toward which the Rouhani administration put forward the plan to shift the national currency from Rial to Toman earlier in December 2016 by eliminating specific number of zeroes. […]

India starts commercial activity at Chabahar Port 09 Jan 2019

India starts commercial activity at Chabahar Port

 India has started its commercial activities in Iran’s southeastern port of Chabahar, the Indian government said on Monday, Economic Times reported. “The Government of India took over the operations of a part of Shahid Beheshti Port, Chabahar, in Iran during the Chabahar Trilateral Agreement meeting held there on December 24, 2018,” the Indian Shipping Ministry […]

Iran’s Bank Pasargad to open branch in India within next 3 months 08 Jan 2019

Iran’s Bank Pasargad to open branch in India within next 3 months

 Minister of Road, Transport and Highways Sh. Nitin Gadkari announced the Indian government has allowed an Iranian bank to open a branch in Mumbai. Iran’s Bank Pasargad will open its branch within the next three months, Gadkari said on Tuesday, after a meeting with Iran’s Foreign Minister Javad Zarif in New Delhi. Gadkari termed his […]