The economies of Iran and China complement each other, Iranian Minister of Industry, Mine and Trade Mohammad Shariatmadari said, stressing that the target of an average annual trade of $60 billion is within reach. In a meeting with chairman of China’s private sector chamber of commerce in Tehran on Wednesday, Shariatmadari stressed the need for […]

An official at the Ministry of Industry said the incumbent government had approved of two billion dollars of foreign investment in 38 projects at industry, mining and commerce sectors. Director-General of Foreign Investment Affairs at the Iranian Ministry of Industry, Mine and Trade Afrooz Bahrami said, since the previous government took office, as many as […]

TEHRAN – Russia’s energy giant Gazprom signed a memorandum of understanding with the National Iranian Oil Company to cooperate in the Iran LNG project which is estimated to cost $4 billion. Gazprom CEO Alexey Miller and NIOC Managing Director Ali Kardor signed the agreement in Tehran on Wednesday. On the sidelines of the signing ceremony, Iranian Oil […]

Tehran Stock Exchange’s main index – TEDPIX – broke an all-time high record in Wednesday trading by surging into the 93,000 lane.  TEDPIX gained 654 points to stand at 93,283 – a level never seen in the Exchange’s history since establishment in 1966. The bulk of the growth was provided by industrial giants such as […]

TEHRAN – Iran is considering the use of domestic finance for the purchase of Airbus and Boeing airplanes, Tasnim reported on Tuesday quoting an official with flag carrier Iran Air. “We prefer to use domestic finances rather than depending on foreign financers,” Iran Air public relations director Masoumeh Asgharzadeh said. The official noted that some […]

TEHRAN – Representatives from private sectors of Iran and South Korea signed 22 memorandums of understanding (MOUs) in Tehran on Sunday to expand cooperation in technology transfer areas. The MOUs were signed during the 4th Iran-South Korea Small and Medium Enterprises (SMEs) Technology Matching Conference, which was attended by officials from both sides along with […]

TEHRAN- Iran exported $495.827 million worth of pistachio during the first eight months of the current Iranian calendar year (March 20-November 21), Tasnim reported on Monday citing customs 8-month data. The country’s weight of exported pistachio stood at 59,744 tons during the mentioned time span, indicating an 18 percent fall from the figure of last […]

TEHRAN – Swiss group Autoneum said it has reached an exclusive license agreement with Iranian automotive supplier Ayegh Khodro Toos (AKT) to produce and distribute components in Iran. AKT will produce carpet systems and inner dashes at its plant in Mashhad for IKAP, a joint venture between carmaker Iran Khodro and PSA, the French automotive […]

Asian markets mostly fell after a recent rally as investors cashed in while also looking ahead to key central bank meetings that could provide some idea about monetary policy in the new year. Wall Street provided yet another record-breaking lead as the selling that hit equities at the start of the month abates, while energy […]

TEHRAN – Iraqi Oil Minister Jabar al-Luaibi said on Sunday that a deal signed with Tehran to swap up to 60,000 barrels per day of crude produced from the northern Iraqi Kirkuk oilfield for Iranian oil is for one year. “This is an agreement for one year and then we will see after that whether […]