TEHRAN- Iran produced 13.2 million tons of petrochemical products during the three-month period from the beginning of current Iranian calendar year (March 21), Qodratollah Farajpour, director for production control in National Petrochemical Company (NPC), announced. As NPC Managing Director Seyed Reza Norouz-Zadeh has informed, 60 petrochemical projects with the nominal capacity of 65.4 million tons […]

TEHRAN- According to Iranian deputy finance minister, the government has granted 200 trillion rials (above $4.68 billion) to protect domestic production projects in the present Iranian calendar year (ending on March 20, 2019). “Despite its budget deficiency, the government has allocated the announced figure to supply the working capital of the Iranian production units and […]

TEHRAN – Chinese Ambassador to Tehran Pang Sen said on Wednesday that illogical and wrong policies of the U.S. President Donald Trump will leave no impact on the expansion of Tehran-Beijing relations. The Chinese ambassador made the remarks in a meeting with the dead of Iran-China parliamentary friendship group Alaeddin Boroujerdi on Wednesday, IRNA reported. […]

ATR Chief Executive Christian Scherer said the Franco-Italian company will sustain “serious damage” to its finances if its contract with Iran breaks under US pressure. According to Reuters, ATR Chief Executive Christian Scherer has been in talks with the US Treasury, urging the Trump administration to unblock the export of about six regional planes to […]

 Iran’s representative to OPEC taunted US President Donald Trump for its “despicable” tweets addressing OPEC, saying if Trump does not stop tweeting, oil prices will go even higher. Hossein Kazempour Ardebili taunted Donald Trump for his lack of knowledge about global oil markets by ordering OPEC to reduce oil prices, saying “for the past thirty years, […]

The head of Lukoil, Russia’s oil-producing giant, Vagit Alekperov said he expects to sign contracts with Iran to develop the country’s oil fields in 3-4 months. These are the oil fields of Mansuri and Shanguleh, the development of which the National Iranian Oil Company (NIOC) announced a tender in the summer of 2017. Lukoil has […]

TEHRAN- Governor of the Central Bank of Iran (CBI) Valiollah Seif announced about official inauguration of secondary foreign exchange market on Wednesday, IRNA quoted him as saying on the sidelines of the cabinet meeting. The secondary market will allow exporters of non-oil commodities to sell their foreign currency earnings to importers of consumer products at […]

The Islamic Republic of Iran and the Republic of Austria signed 4 cooperation documents in the presence of Iranian President Rouhani and Austrian Chancellor Kurz. In the ceremony that was held on Wednesday, during President Hassan Rouhani’s official visit to Austria, four documents were signed by senior officials of the two countries in the fields […]

Iranian lawmakers passed single urgency on a bill for using domestic financial messaging system that once finalized, will require the Central Bank to ink bilateral or multilateral monetary agreements with at least 24 countries in the world. The single urgency bill was passed by 103 votes in favor, 67 votes against and seven abstentions during […]

TEHRAN- The €1.2-billion project for electrification of Garmsar–Incheboron railway in Iran was officially inaugurated on Monday, IRIB reported. As reported, senior officials from Iran’s Transportation Ministry, the Islamic Republic of Iran Railways (known as RAI), and JSC Russian Railways attended the inauguration ceremony which was held through video conference in Tehran. The electrification of the […]