China state-run refiner Sinopec will cut back on its nominations of Saudi Arabian crude in May after the major OPEC producer’s latest official selling prices came out above market consensus, potentially providing other producers in the Middle East and Asia Pacific with a chance to boost sales to the giant Asian consumer. Sinopec, one of […]

TEHRAN- The Central Securities Depository of Iran (CSDI) and Russia’s National Settlement Depository (NSD) signed a memorandum of understanding (MOU) to connect the capital markets of both countries, IRNA reported. The MOU was signed between the Managing Director of CSDI Hossein Fahimi and the Chairman of the Executive Board of NSD Eddie Astanin in Moscow. […]

 Iran and Qatar have been trying to facilitate and ease maritime transportation seriously between the two countries. In a meeting with officials in charge of ports affairs in Iran’s southern city of Bushehr, CEO of Mwani Ports Management Captain Abdulla Al-Khanji made the above remark and said, “a Qatari delegation on behalf of the country’s minister of […]

Central Bank of Iran Governor Valiollah Seif said Tue. that the decision to replace dollar with euro in the country’s foreign trade transactions will be implemented with more determination this year. Governor of the Central Bank of Iran (CBI) attended an open session at the Parliament this morning to discuss the recent foreign exchange fluctuations in […]

TEHRAN- Uzbek First Deputy Prime Minister Achilbay Ramatov announced his country’s readiness on Monday for boosting commercial ties with Iran, IRNA reported. [eco] The senior Uzbek official made the remarks during the 12th meeting of Iran-Uzbekistan joint economic committee at the place of Iran Trade Promotion Organization (TPO) in Tehran. Referring to $325 million Iran-Uzbekistan […]

TEHRAN- Gasoline production in Iran will increase 12 million liters within the next four months, Oil Minister Bijan Namdar Zanganeh announced on Monday. The official put the country’s daily gasoline production at 15 million liters in the past Iranian calendar year (ended on March 20), Tasnim news agency reported. Zanganeh also announced that Iran will […]

Minister of Industry, Mine and Trade Mohammad Shariatmadari put the volume of Iran’s trade and business relations with the outside world in the past Iranian calendar year in 1396 (ended March 20, 2018) at $200 billion and said, “given the considerable trade volume of exchanges, Islamic Republic of Iran can be a good trade partner […]

TEHRAN – Iran has announced the start of a national innovation ecosystem development plan, aiming to boost technology ecosystem, strengthen knowledge-based economy as well as support innovative jobs and start-ups. Over 3,000 knowledge-based companies are established in different fields of industry and technology, which are influential in the field of economy, society and human resources, […]

TEHRAN – Cellphone users in Iran shall resume the registration process based on the country’s telecommunications database from late April. Iran performs the long-awaited national scheme to stop growing market for smuggled cellphones. In the second half of the past Iranian calendar year, which ended on March 20, 2018, about half of brands at cellphone […]

Secretary of Higher Council of Special Economic and Free Zones Morteza Bank said that ‘supporting home-made products’ is the main priority of this sector in the current Iranian calendar year in 1397 (started March 21, 2018). He said that formulation of incentives and supportive packages special of investment is to help private sector and rely […]