Alstom Company of France voiced readiness to help Iran develop its railway system through investments worth 1.2 billion euros for manufacturing wagon cars, the company’s representative in Iran Vincent Douret said. “The cooperation contract is to be signed by the Industrial Development and Renovation Organization (IDRO), Trans Russ Company and France’s Alstom to manufacture passenger […]

Iranian Oil Minister Bijan Namdar Zanganeh announced on Monday that the country will sign 10 new oil contracts by the end of the current Iranian year (March 20). “Based on the serious negotiations held with the parties to these contracts, some 10 deals are predicted to be signed,” Namdar Zanganeh said. Noting that Iran will […]

Deputy Agriculture Minister Abbas Keshavarz, while noting that Iran will soon obtain sugar self-sufficiency, said the country’s rapeseed output will exceed the global record within three years. The official sated that rate of water efficiency in Iran had grown by 25 per cent over the past four years as well as the volume of water […]

Russian energy companies Zarubezhneft, Gazprom Neft and Lukoil have submitted plans to the National Iranian Oil Company (NIOC) to develop oil fields in Iran. Zarubezhneft representatives outlined their plans to increase the recovery rate of oil from the Aban and West Paydar fields, Iran’s Ministry of Petroleum announced on Monday. A memorandum of understanding for […]

Chinese regulators have launched a crackdown on individuals and firms raising funds by offering their own digital currencies. The People’s Bank of China has declared initial coin offerings (ICOs) illegal and wants them to “cease immediately”. A growing number of tech companies are opting to sell digital “tokens” because they are quick, easy and unregulated. […]

Iran has reported an increase of about a quarter in the transit of goods in its key transportation points – a sign that may show the country’s trade activities are growing.  Figures released by Iran’s Road Maintenance and Transportation Organization (IRMTO) showed that above 4.17 million tonnes of goods had been moved through 32 active […]

TEHRAN – Qatar has opened a land and sea cargo line with Iran and Turkey in a bid to reduce the Arab country’s cargo shipping costs by 80 percent, a report said. Former editor-in-chief of Qatar’s al-Sharq newspaper, Jaber Al-Harmi, said via twitter that the Persian Gulf Arab state has opened a land and sea […]

TEHRAN – An official said Iran exported saffron worth 75 million dollars in the first four month of the current Iranian year (began March 21). Deputy Head of Iran’s Union of Sellers and Exporters of Saffron Gholamreza Miri said a total of 53 tons and 851 kilograms of saffron worth 75 million dollars were exported […]

TEHRAN – An NPC official said Iran’s petrochemical industry experienced a 6% percent uplift in production over five months and a 12% rise in exports over four months since beginning of the current Iranian year (began March 21). Director of Production Control in Iran’s National Petrochemical Company (NPC) Alimohammad Bosaghzadeh pointed to five-month statistics for […]

TERHRAN- Iranian Privatization Organization (IPO) has transferred 1.174 trillion rials (about $30.21 million) worth of the state-run shares to the private sector since the beginning of the current Iranian calendar year (March 21, 2017). IPO plans to transfer the shares of some 337 state-run companies to the private sector by the current Iranian calendar yearend […]