Iran’s VP Es’hagh Jahangiri said Sun. that Leader of Islamic Revolution has agreed to the withdrawal of $500 million from Iran’s sovereign wealth fund to support pharmaceutical companies. “$500 million will be withdrawn from the National Development Fund, and exchanged into rial to support domestic pharmaceutical companies. Leader approved the measure last week, and there’s […]

TEHRAN (Tasnim) – Iran’s nominal capacity to produce electricity has reached nearly 80,000 megawatts (MW) following the connection of a number of power plants to the country’s national grid over the past weeks. Since the beginning of the current Iranian year (March 21), Iran’s overall nominal capacity to generate electricity has increased by 1,005 MW. […]

 “Within the next few weeks, the procedure of injecting non-oil exports revenues into the foreign exchange secondary market will be lubricated to supply the required forex sources for imports,” the Public Relations Department of the Central Bank of Iran (CBI) quoted the bank’s Governor Abdolnaser Hemmati as saying on Saturday. According to Hemmati, €7.3 billion […]

 Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) and the Federation of Syrian Chambers of Commerce inked a memorandum of understanding (MOU) on Saturday addressing issues regarding long-term cooperation. The MOU was signed during an Iran-Syria business forum which was held for the first time after over a decade hiatus due to war in […]

Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) and the Federation of Syrian Chambers of Commerce inked a memorandum of understanding (MOU) on Saturday addressing issues regarding long-term cooperation. The MOU was signed during an Iran-Syria business forum which was held for the first time after over a decade hiatus due to war in […]

Iranian and Syrian cooperation in economic Syria and Iran on Saturday discussed mechanisms of strategic cooperation in economic, trade and investment domains. The discussion was during a meeting between a delegation of Syrian businessmen, headed by Secretary General of the Federation of Syrian Chambers of Commerce Mohammad Hamshou and the Adviser to First Vice-President of the […]

The third phase of Persian Gulf Star Refinery (PGSR), in the city of Bandar Abbas, southern Hormozgan province, has started a pilot run in a step toward increasing the country’s gasoline output and self-sufficiency in meeting domestic demand. According to Mohammad Ali Dadvar, managing director of the refinery, efforts are underway to fully develop the […]

 Iranian diplomat Morteza Safari Natanzi said Sat. that the reason behind EU’s prolonged talks with Iran is because European countries are trying to find better ways to maintain banking ties and buy Iranian oil. Speaking to Mehr News correspondent on Saturday, Chairman of the Iranian Parliament’s National Security and Foreign Policy Committee, Morteza Safari Natanzi, […]

 India’s Shipping Secretary Gopal Krishna said the country is weighing a rupee-rial payment mechanism for the Chabahar project in Iran as it weaves a way around the US’s impending sanctions against Iran from Nov. 4, to kickstart the port that is considered critical to the country’s geopolitical and trade interests. According to The Hindu BusinessLine, […]

 Khazar Car Factory, a joint venture between Iran Khodro and the Azeri automotive company AzEuroCar LLC, plans to offer its products in Russian and Georgian markets, Azerbaijan’s Deputy Minister of Economy and Industry Niyazi Safarov said. According to Safarov, talks are underway to export Khazar cars to Russia and Georgia and the capacities of both […]