TEHRAN- Iran’s light crude oil price rose $1.2 in the week ended on December 15 to settle at $63.23 per barrel, IRNA reported on Saturday. The country’s heavy crude oil price also experienced a $1.02 increase in the said week to settle at $60.49 per barrel. In the mentioned week, Organization of Petroleum Exporting Countries […]

TEHRAN– Iranian Industry Minister Shariatmadari has reported on absorbing of foreign investment worth two billion dollars for the country’s Small and Medium Enterprises (SMEs). Mohammad Shariatmadari, Minister of Industry, Mines and Trade of Iran, said his ministry requires an annual recruitment of at least $ 54 billion in foreign investment in order to realize the […]

A memorandum of understanding for investment in various economic projects has been signed between two Iranian-Chinese companies and economic department of Khuzestan governorate. The Chinese-Iranian companies CREC and PTN held joint meetings with the economic department of Khuzestan governorate aimed at reviewing opportunities for investment in various fields of electricity, energy, transport, water and sewage. […]

TEHRAN- IFX, the main index of Iran’s over-the-counter (OTC) market known also as Iran Fara Bourse (IFB), rose 4.8 percent in the ninth Iranian calendar month Azar (November 23-Decemebr 21), Tasnim news agency reported on Friday. As reported, 7,739 million securities worth 58.68 trillion rials (about $1.407 billion) were traded in Azar, showing 30 percent and 62 percent […]

TEHRAN- Iran’s exports to Europe grew 122 percent in October, in comparison with the same month in 2016, European Union’s statistics agency Eurostat reported. The figure reached €986 million in October from its previous €443 million in the same period in 2016. Iran-Europe trade in the named month increased by 54 percent and stood at […]

TEHRAN- Iran tries to push down its inflation rate to below five percent within the next few years, Central Bank of Iran (CBI) Deputy Governor Akbar Komijani announced addressing SEANZA’s meeting of central bank governors in Tehran. “Iran could manage to reach a single-digit inflation in 2016, which was unprecedented during the past 25 years”, […]

TEHRAN – Jordan Chamber of Industry’s Chairman Adnan Abo Al-Ragheb said his country welcomes Iranian trade delegations to explore areas of economic cooperation. Speaking in a meeting with Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholam-Hossein Shafeie in Tehran, the official suggested the two countries sign a memorandum of understanding for […]

German carrier Lufthansa hopes to win EU approval Thursday to snap up a slice of bankrupt Air Berlin’s operations, after competition concerns forced it to scale back its bid for the homegrown rival. Responding to signals that the European Commission was likely to veto its ambitious plans, the German behemoth last week ditched its bid […]

The International Monetary Fund on Wednesday approved the third installment of a $12 billion, three-year loan for Egypt, bringing the total released to date to just over $6 billion. The IMF board approved the latest $2 billion disbursement under the deal signed in November 2016, after a fund team last month praised Cairo’s progress on […]

Britain’s markets watchdog will step up its scrutiny of the initial coin offering (ICO) market to see if new rules are needed to protect investors after issuing an alert in September. Start-ups have begun issuing new digital currencies via ICOs and the market has raised about 3.7 billion pounds this year according to an industry […]