Iran Air (HOMA) CEO Farzaneh Sharafbafi told the media that Iran Air will use the credit lines of French and Italian companies to buy new Airbus and ATR airplanes. “To buy some new aircrafts, the two plane-makers of France and Italy have specified two credit lines for Iran Air (HOMA),” announced Iran Air (HOMA) CEO […]

TEHRAN- Some 5,317 electricity projects are scheduled to be inaugurated in the country on the occasion of Ten-Day Dawn (February 1-10, marking the victory anniversary of the Islamic Revolution), Energy Minister Reza Ardakanian announced. The minister said that 278.4 trillion rials (about $5.8 billion) investment has been made for implementation of these projects, Mehr news […]

TEHRAN – Ports and Maritime Organization (PMO) of Iran plans to inaugurate 17 projects worth 4.305 trillion rials (about $94.8 million) by February 11. Conducting dredging works at the second phase of Shahid Rajaie Port (in south of the country) and overhauling the port’s railway lines are two of the most important projects which are […]

TEHRAN – Iranian Minister of Petroleum Bijan Zangeneh says the country’s petroleum output has increased by 165,000 b/d in the first 10 months of the current Iranian calendar year which began on March 21 compared to the same period last year. Addressing a press conference here in Tehran on Sunday, the official said Iran’s crude […]

TEHRAN- Increasing 59 percent, Iran’s exports to Turkey hit $7.49 billion in 2017, according to the latest report of Turkish Statistical Institute (TurkStat). Iran’s exports to Turkey was $4.69 billion in 2016, the same report confirmed. Iran-Turkey trade stood at $10.75 billion in 2017, growing 11 percent in comparison with the previous year when the […]

TEHRAN – Head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) put the country’s iron ore reserves at 3 billion tons, IRIB news reported. According to Mehdi Karbasian, the country plans to increase its current 21 million tons of steel production to 55 million tons by the end of Iranian calendar year […]

TEHRAN – Several development projects worth near 100 trillion rials (over $2.2 billion) were inaugurated during the trip of President Hassan Rouhani to Kerman Province in southeast of Iran on Thursday. The president was accompanied by a delegation of ministers and high ranking officials, IRNA reported. As part of the inaugurations, President Rouhani and Agriculture […]

Managing Director of Thermal Power Plants Holding Company says that his company has signed an agreement with Japan’s JICA for two power plants. Mohsen Tarztalab said on Wednesday that his company has signed an agreement for Shahid Mofateh and Shahid Rajai power plans with Japan’s JICA (Japan International Cooperation Agency), enabling an agreement between the […]

TEHRAN – Iran’s tourism body has recently unveiled a smart management network that makes it easy for integrating and monitoring all nationwide data on travel and hospitality sectors. Cultural Heritage, Handicrafts and Tourism Organization Deputy Director Mohammad Moheb-Khodaei said on Monday that the centralized network, which is in the reach of everyone, provides useful information […]

A wise person once said: “You don’t know what you’ve got until it’s gone”. But the extraordinary scenes on Sunday in the Majlis in respect of Iran’s budget due to the subsidy question reminded me of the converse saying: “You don’t know what you haven’t got until you see it”. The Fintech boom In the […]