TEHRAN – Iran’s OPEC Governor Hossein Kazempour Ardebili on Friday slammed the U.S.’s request for Saudi Arabia to pump more oil so that it could cover a drop in Iranian exports, saying that OPEC would not comply with such requests. “It’s crazy and astonishing to see instruction coming from Washington to Saudi to act and […]

Governor of Central Bank of Iran Valiollah Seif pointed to the high volume of trade between Iran and China, saying that using Rial and Yuan can overcome problems regarding monetary exchanges. “Regarding the volume of bilateral trade, the use of appropriate payment mechanisms, such as the use of local currencies, can solve financial transactions and […]

TEHRAN- In its latest report, titled as Global Economic Prospects (June 2018), the World Bank (WB) has predicted a 4.1 percent gross domestic product (GDP) growth for Iran in 2018. In the Islamic Republic of Iran, inflation edged downwards to about 8 percent in April from 10 percent at the end of last year, as […]

TEHRAN- The capacity of generating electricity from renewable resources has reached 575 megawatts (MW) in Iran, the Energy Ministry has recently announced, IRNA reported on Friday. Power plants based on clean energy resources with the capacity of 550 MW are currently under construction in the country. According to Iranian Deputy Energy Minister Homayoon Haeri, Iran’s […]

TEHRAN – India is mulling over using Euro as well as the rupee to continue trade with Iran during the new rounds of the U.S. sanctions on Tehran. According to Telegraph India, the country’s UCO Bank will be undertaking the rupee trade with Iran as it used to do during the earlier round of sanctions. […]

Iranian Minister for Cooperatives, Labor and Social Welfare, Ali Rabiei, will take part in the 107th Session of the International Labour Conference (ILC 2018) in Geneva, Switzerland. Meeting with labor ministers from South Africa, Kazakhstan, Bulgaria, Finland, Ireland and Croatia are also on Rabiei’s agenda during his stay in Geneva from 4-7 June. He will deliver a speech at […]

TEHRAN – Moscow Tchaikovsky Conservatory rector Alexander Sokolov has said that the conservatory is eager to provide training courses in Iran. He made the remarks in his recent meeting with Rudaki Foundation Managing Director Ali-Akbar Safipur in Tehran, the foundation announced in a press release published on Saturday. The two sides also agreed to organize […]

 Indian state refiner Bharat Petroleum Corp has reportedly requested an extra one million barrels of oil from the National Iranian Oil Company (NIOC) for June. Reuters cited one of the two industry sources as saying that “at this point of time Iranian crude is attractive … it is faring better than spot cargoes and other […]

South Korea’s Daelim Industrial said on Friday that a contract worth 2.23 trillion won ($2.08 billion) for a refinery project in Iran was canceled amid the fear of sanctions from Trump administration. The order was canceled as the Esfahan Refinery Upgrading Project failed to procure financing because of economic sanctions imposed on Iran, Daelim said in a […]

Germany is fully ready to grow cooperation with Tehran metropolis in the technology realm, said German ambassador to Iran Michael Klor-Berchtold on Friday. Making the remarks in a meeting with Tehran City Council Chairman Mohsen Hashemi, German ambassador highlighted that there are numerous grounds for cooperation between Germany and Tehran. He went on to say […]