Some 448 units in 91 of Iran’s thermal power plants are going under a general overhauling program to get ready for the next year’s demand peak period. The annual overhaul program starts every year in early September and will continue until late May in the next year, the report said. According to Bahman Mehran, head […]

Iran is going to need 8000 megawatts (MW) of new electricity capacity to prevent outages in the next summer, Tasnim news agency reported on Saturday quoting the energy minister. “Our estimate is that, the peak demand for the summer of 1398 [next Iranian calendar year], will reach over 61,000 MW while our current operational capacity […]

 Governor of Central Bank of Iran (CBI) Abdolnaser Hemmati announced that $13 billion has been allocated to supply basic goods required in the country. As the official has previously announced CBI has paid €3.2 billion to import basic goods during the past month. “In the past month, €1.8 billion has been paid for importing basic […]

India may revert to paying Iran in rupees for the oil it buys from its third largest supplier as U.S. sanctions will from November 4 block use of U.S. dollars to settle such trades, a top official said Thursday. Oil refiners such as state-owned Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) […]

Carmaker Volkswagen AG rejected on Thursday a report suggesting it had decided against doing business in Iran after coming under pressure from Donald Trump’s ambassador to Germany, saying its position on the country had not changed. U.S. sanctions against Iran, introduced by President Trump after his decision to pull the United States out of the […]

 Iranian Oil Minister Bijan Namdar Zanganeh said Iran will definitely veto any decision which threatens its interests. The minister made the remarks in an interview in his office with reporters from S&P Global Platts and Bloomberg News on Thursday. Speaking to Bloomberg, Zanganeh warned that some oil producers are trying to create an alternative suppliers’ […]

 Iran’s exports of minerals rose 15 percent in the first five months of the current Iranian calendar year (March 21-August 21) compared to the same period last year. The value of exported minerals stood at about $5 billion in the mentioned time span, IRNA reported quoting Jafar Sarqini, deputy industry, mining and trade minister as […]

 Tehran Stock Exchange (TSE)’s main index (TEDPIX) gained 3,058.12 points or 1.97% on Saturday to end trading at 158,119.2. About 4.16 billion shares valued at $120.88 million changed hands at TSE for the day. The index added 3,000 points to reach 158,000. On the same day, IFX, the main index of Iran’s over-the-counter (OTC) market, […]

The Iranian National Tax Administration collected 366 trillion rials (about $8.57 billion) in tax during the first five months of the current Iranian calendar year (March 21-July 22, 2018), up 10 percent year on year. According to the administration’s head, Seyed Kamel Taqavinejad, more than 190 trillion rials (over $4.5 billion) was collected as direct […]

 Iran is expected to export $1.5 billion worth of medical herbs each year by March 2021, Irannewsdaily Rported quoting an official with the Ministry of Agriculture. Hossein Zeynali, the ministry’s medical plants project manager, said exports of medical herbs stood at $450 million last [Iranian calendar] year (which ended on March 20). “Some $150 million […]