The director general of Esfahan Steel Company (ESCO) said Mon. that the first domestically-constructed rail tracks have been handed over to Iran’s Railways, saying the rails are on par with the latest global standards. According to the Public Relations Department of the Esfahan Steel Company (ESCO), the first consignment of domestically-produced railway tracks was unveiled […]

As the Organization of Petroleum Exporting Countries (OPEC) prepares to meet later this week in Vienna, tension is rising among some of the cartel’s biggest members on what is said to be one of OPEC’s biggest decisions since its establishment. On June 22, OPEC members along with Russia are going to gather once again to […]

TEHRAN – Iran’s representative to OPEC, Hossein Kazempour Ardebili, said Iran along with Venezuela and Iraq is going to veto Saudi Arabia’s proposal to increase oil production in cartel’s June 22 meeting in Vienna. Speaking to Bloomberg on Sunday, Kazempour said “If the Kingdom of Saudi Arabia and Russia want to increase production, this requires […]

 Iran’s representative to OPEC said Sun. that the three bloc members, including Iran, Venezuela and Iraq, will veto Saudi Arabia’s proposal to increase oil production in Vienna this week. Speaking to Bloomberg, Kazempour Ardebili said the three OPEC founders, including Iran, Venezuela and Iraq, are going to stop a proposal to increase oil production that’s […]

Iran’s University of Applied Science and Technology Branch of Bushehr and German’s Fachhochschule des Mittelstands (FHM) signed a memorandum of understanding (MOU) on increasing academic ties. A special meeting was held between the officials of the two universities on Sunday in Bushehr to discuss topics regarding business and entrepreneurship tutorials, said Saied Zarrin, an official […]

TEHRAN — Innovation ecosystem has a great impact on job creation for educated people, deputy science minister Masoud Boroumand told ISNA on Saturday. The knowledge-based product trade and job creation for educated people are important factors, which can be considered for evaluation of innovation ecosystem. About 5,000 knowledge-based companies have been established in science parks […]

PARACHINAR – The world is moving at a rapid pace, technological advancements have transformed lives, and economic growth has been spurred by innovative policies and practices. The economic success story, some argue, is directly linked to the fluctuations in gross domestic product (GDP) growth rate. But some argue against it. So, is GDP the most […]

Fresh fears of a trade war between the world’s top two economies sent Asia markets tumbling on Monday after the United States and China imposed tit-for-tat tariffs on billions of dollars of imports. Energy firms were among the biggest losers as oil prices plunged ahead of a key OPEC meeting, where Saudi Arabia and Russia […]

TEHRAN – The construction of Iran’s longest freeway is planned to be completed within the next two years, according to the deputy director for construction and development in Iran’s Construction and Development of Transportation Infrastructures Company (CDTIC). Seyed Hassan Mirshafi’ said this freeway with the length of 700 kilometers will connect Natanz in the central […]

TEHRAN- India’s imports of oil from Iran increased to about 705,000 barrels per day (bpd) in May, which is the highest level since 2016, Reuters reported citing the data from shipping and industry sources. The rise in oil imports came as refiners raised purchases despite the U.S. sanctions against Tehran, the report said. Imports of […]