TEHRAN – A high-ranking Hungarian trade delegation is due to visit Tehran to attend an Iran-Hungary business forum slated for December 3, the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) announced. Representatives of Hungarian companies active in a variety of areas including Auto industry, engineering and product development, gas cylinders, power […]

Deputy Head of Iran’s Carpet Center for Economic Affairs Mohammad Mehdi Farshchi said Iran exported hand-woven carpets worth $180 million over the first seven months of the current Iranian calendar year (began March 20). Iran exported $290 million hand-woven carpet in 2016, he said, adding the figure rose to $359 million in 2016, rising by […]

Bitcoin broke through the $10,000 barrier for the first time on Wednesday as it continues a stratospheric rise that has delighted investors but sparked fears of a bubble. The virtual currency hit a high of $10,379 in Asia, according to Bloomberg News, more than 10 times higher than its value at the start of the […]

Iran holds some 22 percent of Afghanistan’s goods consumer market, Afghan commercial attaché to Iran said Tuesday. Afghanistan imports about 11.5 billion US dollars worth of consumer goods annually and Iran’s share accounts for 2.5 billion US dollars of the total sum, Afghan commercial attaché to Iran, Jaber Ansar, said Tuesday. Cheaper transportation costs reduce Afghanistan’s expenses […]

In November 2016, OPEC nations joined hands with other oil producing countries like Russia, Mexico, Kazakhstan and Oman to rebalance an oversupplied oil market helping the prices surge from a dramatically low point. In doing so, nations that pump more than half the world’s oil, gathered in Vienna to make a landmark decision on cutting […]

TEHRAN – Iran’s nominal capacity to produce electricity has reached about 78,000 megawatts (MW) following the connection of a number of power plants to the country’s national grid over the past two weeks. The country’s overall nominal capacity to generate electricity has increased by 381 MW over the past two weeks, reaching 77,987 MW. During […]

TEHRAN – The managing director of Iranian Gas Transmission Company said Iran has exported 250 million cubic meters per day (mcm/d) of natural gas to Armenia since the beginning of the current fiscal year on March 21. Tehran signed a gas deal with Yerevan in 2004 whereby the Islamic Republic agreed to supply gas to Armenia […]

TEHRAN- The value of Iran’s non-oil trade with foreign partners reached $60.907 billion during the first eight months of the current Iranian calendar year (March 21- November 22), up $4.486 billion or 8 percent from the same period last year, IRIB news reported on Monday. The country’s foreign trade stood at $56.421 billion during the […]

TEHRAN- Indian Telecom Minister Manoj Sinha voiced his country’s readiness for expansion of cooperation on information technology, communication and related industries with Iran, IRNA reported on Saturday. “Iran and India previously negotiated expansion of bilateral communication ties. We continued our negotiations today,” Sinha told IRNA after a Friday meeting with Iranian Minister of Communication and […]

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 […]