TEHRAN – An NIDC official said as many as 119 oil and gas wells were drilled and completed over the first nine months of the current Iranian calendar year (began March 21). Corporate Planning Director of National Iranian Drilling Company (NIDC) Naser Gholipour pointed to drilling of 119 new oil and gas wells so far […]

Oil prices in New York jumped to a two-and-a-half year high Tuesday and briefly topped $60 a barrel due to a Libyan pipeline explosion and frigid weather in the US. The benchmark US contract, West Texas Intermediate for February delivery, rose $1.50 to $59.97 a barrel after earlier breaching $60 for the first time since […]

Shares in Hyundai Heavy Industries plunged by nearly a third on Wednesday after the world’s largest shipbuilder by sales announced a plan to issue new stocks in a bid to shore up its ailing finances. The South Korean firm has struggled amid an industry-wide slump in recent years, as global demand slowed and competition from […]

TEHRAN – Iran has experienced a 56-percent decrease in average precipitation over the period from September 23-December 25 compared to the same period in the long run, the country’s meteorological organization has announced. South Khorasan, Qom, Yazd and Isfahan provinces show the most dramatic decline of more than 90 percent. Tehran is ranked 8th with […]

In late June, the Iranian government shut down the online auto import registration system saying that the import regulations are being revised. Although the officials in the Industry Ministry mentioned managing auto import market and preventing from exit of foreign currency from the country as some reasons for stopping this system, taking this action in […]

TEHRAN – Iran and Qatar discussed ways of facilitating maritime trade and cooperating in ports and transport areas, IRIB news reported. The two sides explored the matters in a bilateral meeting in Doha on Monday. The meeting was attended by the Managing Director of Iran’s Ports and Maritime Organization (PMO) Mohammad Rastad and Qatari Minister […]

TEHRAN – Construction operation of more than 2,000 megawatts new power plants has started in the country since the beginning of the current Iranian calendar year in 1396 (started March 21, 2017). Deputy Thermal Power Plants Holding Company (TPPH) for Planning Affairs Hamid-Reza Azimi made the above remark and added: “According to the Clause 6 […]

Fresh indications have appeared that show Iran and Russia are moving closer to an ambitious plan to integrate their banking systems – a strategy both hope would make them immune to the financial sanctions of the United States in the future. A top banking official in Tehran was quoted by media as saying that the […]

Japan’s unemployment rate in November dipped to its lowest level since November 1993, official data showed Tuesday, offering another sign that the world’s third-largest economy is on track to recovery even if the pace is slow. Figures released by the government showed unemployment stood at 2.7 percent last month while the jobs-to-applicants ratio improved slighty, […]

TEHRAN – Head of Iran’s Securities and Exchange Organization (SEO) Shapour Mohammadi said trading Bitcoin in the country’s brokerages is illegal, Shada reported on Sunday. “The Securities and Exchange Organization is reviewing Bitcoin’s status for entering the country’s economy and has not yet reached a conclusion, so if any brokerage buys or sells the cryptocurrency, […]