TEHRAN- Iran and Turkey aim to increase the value of trade in technical and engineering services sector to $10 billion per annum. Iranian Industry, Mining and Trade Minister Mohammad Shariatmadari and Turkish Economy Minister Nihat Zeybekci signed a memorandum of understanding to boost bilateral technical and engineering services transactions to $10 billion. The MOU was […]

TEHRAN– Economic official Hosseini said the volume of foreign investment in Iran has increased by 60 percent since the nuclear deal came into effect in 2016. Deputy head of Organization for Investment, Economic and Technical Assistance of Iran (OIETAI), Jamal Farajollah Hosseini, made the remark at an international forum on Iran’s economic and investment opportunities […]

TEHRAN- The Statistical Center of Iran announced that the inflation rate for the 12-month period ended on the last day of the eighth Iranian calendar month of Aban (November 21) compared to the same period in the previous year hit 8.4 percent. The center also put the inflation rate at 8.2 percent and 9.3 percent […]

 A top Iranian energy official unveiled plans for a rise in natural gas exports to neighboring Iraq next year. In an interview with Tasnim on Saturday, Managing Director of the National Iranian Gas Company (NIGC) Hamid Reza Araqi said the country’s exports of natural gas to Iraq will increase during the spring and summer of […]

TEHRAN- Development of Iran’s railway requires $28 billion investment, Transport Minister Abbas Akhoundi announced on Saturday. Saying that development of railway transportation is emphasized by Supreme Leader Ayatollah Khamenei, the minister stated that not only does railway transportation lead to economizing on fuel consumption, it boosts safety as well. He went on to say that […]

TEHRAN- In a meeting with Iranian Industry Minister Mohammad Shariatmadari in Tehran on Saturday, Qatar’s Economy Minister Ahmed bin Jassim Al Thani called for the expansion of economic relations with Iran. After the meeting with Al Thani, where the two minister discussed enhancement of mutual trade volume and removal of the related barriers in this […]

Iran has a specific focus on increasing economic growth rate and seeks the target via reducing its reliance on oil revenues, as well as fostering a knowledge-based economy which is believed to have a high positive impact on increasing domestic production. However, knowledge-based products are intangible and non-excludable goods, which makes it difficult for their […]

TEHRAN – The two-day conference focuses on the latest national, regional, and international developments in gas and petrochemical industry. Representatives from eighteen countries including fourteen European, three Asian countries and one from the Americas are attending the event. It will end tomorrow, 26th of November. The latest developments in the gas and petrochemical industry at […]

TEHRAN – Iran’s Oil Minister Bijan Namdar Zanganeh denounced comments by US President Donald Trump that the international oil market would remain normal by cutting purchases from Iran. Iran is supplying up to 2.5 million barrels of oil per day to the world market, Zanganeh told ICANA, saying a cut in this amount of Iranian […]

TEHRAN- Iran produced 1.98 million tons of crude steel during October 2017, with a 24.2 percent rise from 1.597 million tons in the same month last year, according to the World Steel Association (WSA). The WSA also announced that the country’s crude steel production stood at 17.901 million tons during the first ten months of […]