Iran calls for €5bn trade volume with Pakistan
TEHRAN – Iran’s VP for Economic Affairs Mohammad Nahavandian has called for boosting trade transactions with Pakistan to reach the goal of 5 billion euros. During a meeting with Pakistani Foreign Minister Khawaja Muhammad Asif on Monday in Tehran, Iranian Vice-President for Economic Affairs called for expediting trade negotiations between the two countries and removing obstacles […]
Iran beats US to top pistachio producer in world
TEHRAN – This year Iran will produce 310,000 tons of pistachio and reclaim its title as the top producer of pistachio in the world by surpassing the US, an official at Ministry of Agriculture predicts. While estimating the production of pistachio to reach up to 310,000 tons in 2017, head of the office of cold-weathered […]
Sepehri appointed NIDC’s new managing director
TEHRAN – Sepehr Sepehri was appointed as the new managing director and board chairman of National Iranian Drilling Company (NIDC). National Iranian Oil Company (NIOC) Managing Director Ali Kardor appointed Sepehri to the position replacing Heidar Bahmani. Bahmani was appointed as NIDC’s managing director for the third time in Iranian year of 1393 (March 2014-March […]
Iran raises October light crude price for Asia
TEHRAN – Iran has raised its light crude’s official October selling prices for Asia by $0.48 to set 50 cents above the Oman/Dubai average for the same month, Reuters reported quoting an industry source with direct knowledge of the matter. Last month, OPEC’s third largest oil producer changed the pricing formula for its Soroush grade […]
Annual dairy output to exceed 10m tons by Mar. 2018
TEHRAN- Iran’s annual dairy production is anticipated to reach over 10 million tons in the current Iranian calendar year (which ends on March 20, 2018), ISNA reported on Sunday quoting Deputy Agriculture Minister Hassan Rokni as saying. In an interview with ISNA, the official also put the country’s annual dairy output at 9.6 million tons […]
Oberbank to ink deal with Iran on Sept. 21
TEHRAN- Austria’s Oberbank will sign a deal with the Central Bank of Iran (CBI) on September 21 to finance Austrian projects in Iran, the bank’s chief executive has said. “I think we are the first European bank (to reach such an agreement),” Franz Gasselsberger told Reuters, adding that he was relying on information from the […]
Iran raises October light crude price for Asia
TEHRAN – Iran has raised its light crude’s official October selling prices for Asia by $0.48 to set 50 cents above the Oman/Dubai average for the same month, Reuters reported quoting an industry source with direct knowledge of the matter. Last month, OPEC’s third largest oil producer changed the pricing formula for its Soroush grade […]
Iran’s first data vending agreement signed with Inforex
TEHRAN- The first ever data vending deal in the Iranian capital market was signed between Iran Financial Center (IFC) and Greece’s Inforex S.A. data vendor company on Sunday. Based on the deal, which was signed by Inforex Managing Director Eleni Pateropoulou and IFC Managing Director Ali Naqavi in Tehran Stock Exchange (TSE) headquarters, IFC will provide […]
Iran to increase oil output to 4.5m bpd within 5 years
TEHRAN – Iran is planning to increase its oil production to 4.5 million barrels per day (bpd) within five years, Shana reported quoting National Iranian Oil Company (NIOC) Managing Director Ali Kardor as saying on Sunday. Exempted from the OPEC, non-OPEC curbs, Iran has increased its crude output to 3.79 million bpd in August from […]
Iran’s exports to Turkey grow 80% in 7 months
TEHRAN- Iran’s exports to its western neighbor, Turkey, witnessed an increase of 80 percent during the first seven months of 2017 and stood at $4.5 billion, Tasnim news agency reported on Tuesday. According to the latest data published by Turkish Statistical Institute, Iran-Turkey trade transactions in the said period increased 16 percent in comparison with […]