A 34 million euro contract for engineering of polypropylene production from natural gas was signed between Ardebil Petrochemical Company and Italy’s Techint Engineering & Construction. Under the contract signed on Tuesday, Italy’s Techint Engineering & Construction is tasked to determine a licensor for a 500,000-ton unit within 18 months and to estimate the final cost of constructing the main […]

Seyed Reza Aghazadeh, Iran’s commercial attaché in China, said several advantages of foreign investment in Iran had been examined at the international Silk Road summit held last week in Beijing. The two-day Belt and Road Forum for International Cooperation closed last Monday in Beijing, with Chinese President Xi Jinping declaring the event a success and […]

The EU’s top court will decide Wednesday if ride-hailing app Uber is an ordinary taxi company and should be regulated as such, in a decision that will be closely watched around the world. The case is yet another thorn in the side for scandal-rocked Uber, which has drawn the fury of local taxi drivers and […]

Southeast Asian nations are riding a global trade boom that’s set to underpin solid economic growth next year, supporting the region as it embarks on monetary policy tightening and braces for a spate of elections. The Philippines and Vietnam will remain the star performers in 2018, with economic growth projected to exceed 6% again, according […]

TEHRAN – Iran gained some 526.4 trillion rials (about $12.63 billion) in tax income during the first seven months of the current Iranian calendar year (ended on October 22, 2017). According to the report, the Iranian government could manage to collect $12.6 billion of the total 689.2 trillion rials (about $16.53 billion) anticipated to be […]

TEHRAN- Following holding discussions on December 2–13 on the 2017 Article IV Consultation with Iran, Catriona Purfield, the head of International Monetary Fund (IMF) delegation to Iran, predicted that the country’s real gross domestic product (GDP) growth will reach 4.2 percent in 2017-18. As Purfield reported growth has begun to broaden to the non-oil sector. […]

 In the presence of the Minister of Roads and Urban Development on Monday, Iranian companies signed 13 contracts worth 100 billion Rials to contribute to development of the northern and southern ports of the country. According to the contracts signed with Iran’s Ports and Maritime Organization (PMO), the private sector will invest 100,000 billion Rials […]

China has released a code of conduct for private companies investing abroad as it seeks to head off risky acquisitions, with state media reporting on Tuesday that a blacklist of violators was in the works. The move by the country’s top economic-planning agency appears to be the latest in a government campaign to prevent acquisitive […]

Singapore on Tuesday banned a jailed banker from working in its financial services industry for life over his links to the international money-laundering scandal involving neighbouring Malaysia’s state fund 1MDB. Financial regulator the Monetary Authority of Singapore (MAS) handed the punishment to Yeo Jiawei, noting he had been convicted of several 1MDB-linked charges, including money […]

Two Russian firms signed a contract with the Railways of the Islamic Republic of Iran on Monday to allocate 3 billion Euros for joint production of railcars and locomotives. Trade Promotion Center of Russia, the Russian Agency for Export Credit and Investment Insurance (EXIAR), and the Railways of the Islamic Republic of Iran signed a […]