TEHRAN – Shortage of budget has been impeding many projects needed to implement disaster reduction plans, especially during earthquakes, YJC quoted Ahmad Sadeqi, director of the Tehran Disaster Mitigation and Management Organization, as saying. The budget bill for the next Iranian calendar year (March 2018-March 2019) has allocated roughly 110 billion rials (nearly $2.75m) to […]

Following a series of rallies in some Iranian cities in protest at difficult economic conditions, the Administration’s Spokesman Mohammad Baqer Nobakht unveiled plans to provide employment for more than 830,000 people in the next Iranian year. Speaking at a television talk show on Saturday night, Nobakht said the administration expects to create jobs for 830,000 […]

TEHRAN– An NIGC official said completion of national gas distribution network will pave the path for expansion of the country’s gas trade worldwide. The National Iranian Gas Company (NIGC) Planning Director Hassan Montazer Torbati touched upon development of gas distribution network and gas pipelines across the country saying “main infrastructure of the NIGC gas distribution […]

After a banner year for US stocks, that saw the Dow hitting repeated records, Wall Street strategists predicted 2018 would see more moderate gains and increased volatility as markets retreated in the final session of 2017 on Friday. A late sell-off pushed the market into the red amid declines in Apple, Amazon and some other […]

Production of conglomerate in the country witnessed a significant 25% growth in the current Iranian calendar year in 1396 (started March 21, 2017). For his part, Minister of Industry, Mine and Trade Mohammad Shariatmadari pointed to the production capacity of 60 million tons of concentrate in Sangan and said, “with the studies made in this […]

TEHRAN – Iran’s Industry, Mining and Trade Minister Mohammad Shariatmadari said over $25.6 billion is needed to reach the country’s 55 million-ton steel capacity envisaged in Iran’s 1404 (March 2025-March 2026) Outlook Plan. “$8.4 billion is needed for mining sector while €14.5 billion (about $17.247 billion) is the estimated finance needed for the industry’s infrastructures,” […]

TEHRAN- Iran’s light crude oil price rose 13 cents in the week ended on December 22 to settle at $63.36 per barrel, Shana reported on Saturday. The country’s light oil price was reported $52.20 on average since the beginning of 2017 until December 22. The country’s heavy crude oil price also experienced a $0.52 increase […]

TEHRAN – Deputy Governor of the Central Bank of Iran (CBI) Akbar Komijani pointed to the transition from arduous sanctions period and said, “in sanctions period, the country’s banking ties with the outside world was disconnected.” After the implementation of Joint Comprehensive Plan of Action (JCPOA), the official title of nuclear deal, most of foreign […]

TEHRAN– Isfahan Refinery will get South Korea’s finance for the improvement process and optimization purposes. In this regard, South Korea will provide €1.9 billion worth of credit for upgrading and optimizing Isfahan Refinery. Alireza Arman Consolidated Planning Manager of National Iranian Oil Products Refining and Distribution Company (NIOPRDC) made the remark, adding, “a contract for […]

TEHRAN – The latest annual report issued by Iran-UK chamber of commerce indicates a nearly 50% increase in the trade transactions between the two sides after the signing of Iran nuclear deal in 2015. According to the latest annual report issued by Iran-UK chamber of commerce, the volume of trade exports between Iran and UK […]