TEHRAN- Some 120 trillion rials (about $2.85 billion) of loans will be paid to the villagers in the current Iranian calendar year (March 2018-March 2019) in a bid to materialize stable employment in the rural areas, vice president for rural development and deprived areas announced. Abolfazl Razavi said the loans will be secured from National […]

TEHRAN- Iran exported over 1.99 million tons of petrochemical products worth more than $1.167 billion in the first month of current Iranian calendar year (March 21-April 20), Shana reported citing the data released by National Petrochemical Company (NPC). The country produced over 4.7 million tons of petrochemicals during the first month, NPC data showed. Production […]

TEHRAN- Chinese firms hope to maintain purchases of oil from Iran, a source with direct knowledge of the discussion between the two sides told Reuters. The sources told Reuters Saeed Khoshrou, director of international affairs at the National Iranian Oil Company (NIOC), met Chinese buyers this week to ask them to maintain imports after U.S. […]

 Islamic Republic of Iran Customs Administration (IRICA) said that more than 96,000 tons of quality raisin, valued at $152 million, was exported in the past Iranian fiscal year (ended March 20, 2018). According to reports, 96,420 tons of high-quality raisin of various types was exported over the past year to many countries in the world, […]

The EU is planning to switch from US dollars to euros in payments for oil supplies from Iran, a diplomatic source has told the Russian Sputnik. According to Sputnik, EU foreign policy chief Federica Mogherini said on Tuesday that after talks with the foreign ministers of the United Kingdom, France, Germany, and Iran in Brussels that the sides had […]

TEHRAN- An Iran-Qatar business forum attended by a number of Iranian and Qatari traders and businessmen was held in Qatar’s capital Doha on Monday. Addressing the forum, Hossein Pir-Moazzen, a board member of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), who headed the Iranian participants, referred to the negotiations made during the sixth […]

TEHRAN- Bulgarian Minister of Economy Emil Karanikolov said his country and Europe are seriously determined to continue their economic cooperation with Iran. The European official made the remarks in an Iran-Bulgaria business forum held at the place of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) in Tehran on Monday, ICCIMA portal reported. The […]

TEHRAN- The project for electrification of Garmsar–Incheboron railway to the length of 495 kilometers, linking Garmsar in the north-central province of Semnan to Incheboron in the northeastern province of Golestan, is being implemented. The project will be financed by Russia and will be operated through cooperation of Russian and Iranian companies. It includes supplying fleet […]

TEHRAN – Iran and China signed a deal worth €70 million on Monday to collaborate on manufacturing 50 electro-diesel freight locomotives in Iran. According to the Ministry of Transportation news portal, the trilateral deal was signed between Wagon Pars and Alborz companies from Iran and the Chinese giant locomotive manufacturer CRRC Dalian Co. The Iranian […]

 Oil price on Monday experienced a considerable decline on Monday due to the increased opposition to Iran’s sanctions. Given the above issue, global price of oil hits a record low which was unprecedented in the recent years. If US seeks to reduce Iran’s oil exports, oil supply in the markets will drop by one million […]