TEHRAN – Iran has raised its light crude’s official November selling prices for Asia at 80 cents above the Oman/Dubai average for the same month, Reuters reported quoting an industry source with direct knowledge of the matter. November price is 30 cents higher than the price set for the previous month which was 50 cents […]

TEHRAN- Iranian Minister of Finance and Economic Affairs Masoud Karbasian was appointed as the new chairman of Iran-Russia Joint Economic Committee, Tasnim news agency reported on Wednesday. Karbasian was appointed to the post replacing Mahmoud Vaezi, the previous minister of communications and information technology. MA

TEHRAN- According to OPEC’s latest monthly report published on October 11, oil production in Iran stood at 3.827 million barrels per day (bpd) in September, increasing 1,000 bpd from 3.826 million bpd in August, based on secondary sources. The OPEC’s report also announced Iran’s oil output based on direct communication. It said the country’s oil […]

TEHRAN- Iranian Deputy Industry Minister Mojtaba Khosrotaj and a top official from Japan External Trade Organization (JETRO) conferred on developing mutual trade bonds in Tehran, the official website of Iran’s Trade Promotion Organization (TPO) reported on Wednesday. In this meeting, Khosrotaj, who is also the head of TPO, discussed increasing cooperation on auto industry, manufacturing […]

Although Iran ranks first in the world in terms of natural gas reserves – according to the BP Statistical Review of World Energy, the country holds around 18 percent of total proven natural gas reserves globally-, when it comes to exports, it has a long way to the top of the list of gas exporting […]

TEHRAN- Iran-Georgia business forum and the 6th meeting of the two countries joint economic committee was held in the Georgian capital, the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) reported on Wednesday. The business forum was reportedly attended by the Iranian Labor Minister Ali Rabiei, Georgian Minister of Economy and Sustainable […]

TEHRAN – An Iranian-German company is going to finance a 100-megawatts solar farm worth $120 million in Iranian central province of Yazd, IRNA reported on Wednesday. According to the managing director of the company this solar farm is part of a 500MW project which is due to be implemented in Iran by the company. The […]

TEHRAN- Carlos Ghosn, the CEO of Renault, announced that his company has a long-term serious plan for presence in the Iranian market. Making the remarks during a press conference in Paris last week on revealing the company’s mid-term plan, the CEO underlined the significance of Iranian market and stressed that Renault will not leave the […]

Rural areas actually have vast potential for economic growth pegged to food production and related sectors, The State of Food and Agriculture 2017 says. And with the majority of the world’s poor and hungry living in these areas, achieving the 2030 development agenda will hinge on unlocking that oft-neglected potential, it adds. Doing so will […]

An Italian asset manager has purchased stakes in an Iranian financial company thus becoming the first foreign fund house to invest in the nation’s financial sector.   The Financial Times reported that Azimut, a €48-billion group headquartered in Milan, had acquired 20 percent of Mofid Entekhab, an Iranian asset manager, for an undisclosed sum. “We were looking […]