India’s finance ministry has exempted rupee payments made to the National Iranian Oil Co (NIOC) for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters. The exemption, put in place December 28 but backdated to November 5, will allow Indian refiners to settle about $1.5 billion of outstanding […]

 The national budget bill for the next Iranian calendar year 1398, which starts on March 21, 2019, has envisaged transferring 50 trillion rials (about $1.19 billion) worth of state-run shares to the private sector, Mohammadreza Pour-Ebrahimi, the chairman of the Parliament Economic Committee, told IRNA on Tuesday. As previously reported, in its planned budget for […]

 Statistics of the Ministry of Industry, Mine and Trade show that $625 million worth of Foreign Direct Investment (FDI) has been approved in mineral and industrial sector since the beginning of the current year up to the end of Iranian month of Mehr (March 21 – Oct. 22). This huge volume of investment is related […]

Pakistan’s Minister for Power Omar Ayub Khan says his country is looking forward to boost its existing power cooperation with Iran. During a Monday meeting with Iranian Ambassador to Pakistan Mehdi Honardoost in Islamabad, Ayub Khan said that Pakistan is ready to hold negotiations on the renewal of the agreement on100MW electricity import to Balochistan province. The […]

 In a meeting between Central Bank of Iran (CBI) Governor Abdolnaser Hemmati and Syrian Minister of Economy and Foreign Trade Mohammad Samer al-Khalil in Tehran on Monday, the two sides investigated the ways to facilitate banking transactions between Iran and Syria, CBI website published. As reported, establishment of a joint bank was one of the […]

Director General of Azarbaijan Railways General Bureau Shapour Arsalani said that export volume of freight through provincial railways company registered a significant 1.5fold increase in nine months of the current Iranian calendar year (March 21 – Dec. 21). Given the above issue, exports of freight from railways of this province rose 1.5 times more as […]

The exports of non-oil commodities from Qazvin province, northern Iran, stood at $514 million during the past nine months through Dec. 21, the deputy governor of Qazvin said. According to Manouchehr Habibi, the figure indicates a 26% growth in terms of value compared with the corresponding period last year. Noting that the industrial province currently […]

Oil Minister Bijan Namdar Zanganeh says the country’s gasoline output will cross 100 million liters per day by the end of the current fiscal (March 20, 2019). Zanganeh said on Monday that the third phase of Persian Gulf Star Refinery (PGSR), in the city of Bandar Abbas, southern Hormozgan province, will go into full swing […]

The value of Iran’s non-oil trade stood at $65.97 billion in the first nine months of the current Iranian calendar year (ended on December 21), according to the latest data released by the Islamic Republic of Iran Customs Administration (IRICA). Iran exported 86.94 million tons of non-oil commodities, worth $33.35 billion, during the mentioned period […]

 Iran exported 4,580 tons of agricultural products worth $4.6 billion in the first eight months of the current Iranian calendar year (started March 21), showing 20 percent and 19 percent rise in terms of weight and value respectively, IRNA quoted Shahrokh Shajari, an official with the Agriculture Ministry, as saying on Saturday. Over the same […]