Economy

Trump cannot reduce oil prices by bullying: Zanganeh

Tehran (ISNA) - U.S. President, Donald Trump cannot bring oil prices down by “bullying” other nations, Iran’s Oil Minister said on Tuesday, adding that the market was suffering from short supply.
Iran's 9-month trade with China grows 1.8 pct

Tehran (ISNA) - China remains the top customer of Iran’s oil and non-oil goods in 2018, said a spokesperson with China’s General Administration of Customs.
18th Int’l Industry Exhibition begins in Tehran

Tehran (ISNA) – The 18th International Industry Exhibition kicked off in Tehran on Saturday with participation of 560 foreign and domestic companies.
Russia to start supply electricity to Iran trough Azerbaijan in 2019

Tehran (ISNA) - The first trial electricity supplies from Russia to Iran via the Russia-Azerbaijan-Iran energy corridor may start as early as 2019, the Russian Energy Ministry said in a statement following the results of the first meeting of the trilateral working group on linking the power grids of the three countries.
Iran, Turkey may establish joint bank

Tehran (ISNA) - Iran and Turkey may establish a joint bank, aiming to facilitate and increase trade exchanges, secretary of Iran-Turkey Joint Chamber of Commerce announced.
Saudis not replacing Iran’s oil exports: oil minister Zanganeh

Tehran (ISNA) - The market will never buy Saudi Arabia’s claim that it has been compensating for the loss of Iran’s oil exports, Iranian Oil Minister, Bijan Zanganeh said, adding that Saudi Arabia officials have been claiming they are able to offset Iranian losses under U.S. pressure.
Two Indian companies to buy Iranian oil in November: Oil minister

Tehran (ISNA) – Two Indian oil companies have placed orders to import Iranian crude next month, Oil Minister Dharmendra Pradhan said Monday, defying a call from President Donald Trump's administration for countries to completely cut-off the Islamic republic.
Happened over the first days of October;

Trading over 270 thousand tonnes of various commodities on IME

Tehran (ISNA) - During weekdays ending up to October 4th, approximately 270,167 MT of commodities worth over $340 million were traded in Iran Mercantile Exchange.
Iran's financial activities won't be heavily affected by new US sanctions - CBI

Tehran (ISNA) - The new US sanctions will not have a major effect on Iran's financial and oil activity, Iranian Central Bank Governor said.
India to keep buying Iranian oil despite U.S. sanctions

Tehran (ISNA) - India will buy 9 million barrels of Iranian oil in November, two industry sources said, indicating the world’s third-biggest oil importer will continue purchasing crude from the Islamic republic of Iran despite U.S. sanctions coming into force on Nov. 4.
Telecom 2018 kicks off in Tehran

Tehran (ISNA) – 19th International Exhibition of Telecommunications, Information Technology, and Innovative ICT Solutions (Iran Telecom 2018) kicked off at Tehran’s Permanent Fairground on Wednesday.
Iran’s non-oil exports grow by 13 pct in 6 months

Tehran (ISNA) - Iran’s non-oil exports reached more than $23 billion, registering a $1 billion positive balance during a 6-month period from March 21 to September 22, 2018.
Happened over the last week of September;

Trading over 493 thousand tonnes of various commodities on IME

Tehran (ISNA) - During weekdays ending up to Sept 27, approximately 493,474 MT of commodities worth over $571.4 million were traded in Iran Mercantile Exchange.
Iranian hand-woven carpet exports increase 10 pct

Tehran (ISNA) – The head of the National Union of Cooperatives of Iran’s Carpet Manufacturers announced that the exports of Iranian hand-woven carpet have increased 10% during the first 4 months of the current Iranian fiscal year.
India’s crude oil imports from Iran jumpe 44 per cent in August

Tehran (ISNA) - India’s crude oil imports from Iran jumped a whopping 43.72 per cent to 2.07 Million Tonne (MT) in August this year.
Iran Plast 2018 hosting exhibitors from 15 countries

Tehran (ISNA) - The 12th edition of Iran’s International Exhibition of Plastics, Rubber, Machinery and Equipment (Iran Plast 2018) kicked off on Monday at Tehran Permanent International Fairgrounds, Shana reported.
South Korean companies to continue to work with Iran despite US sanctions

Tehran (ISNA) - South Korea’s new ambassador to Iran, Yu Chang Hwang, announced Korean companies will continue to work with Iran, despite the US pullout from the nuclear deal.
Iran, Turkey set to form joint bank

Tehran (ISNA) - Iran and Turkey were announced to be forming a joint bank as part of deals on the use of national currencies in transactions.
Iran says oil market is too tight for U.S. zero exports target

Tehran (ISNA) - The U.S. will find it difficult to cut Iran’s oil exports completely as the oil market is already tight and rival producers cannot make up the shortfall, a top Iranian official said.
Happened over the first week of September;

Trading over 501 thousand tonnes of various commodities on IME

During weekdays ending up to Sept 6, while approximately 501,116 MT of commodities worth over $477 million were traded in Iran Mercantile Exchange, the trade volume and value experienced a growth of 33% and 81%, respectively.
India proposes to double bilateral trade with Iran

Tehran (ISNA) - Commerce and Industry Minister of India, Suresh Prabhu Friday proposed to double bilateral trade with Iran in the next five years from the current level of $13.8 billion, an official said.
Iran inaugurates new petrochemical plants

Tehran (ISNA) - Iran officially inaugurated Tuesday two petrochemical projects -- the Marjan petrochemical plant, with capacity to make 1.65 million mt/year of methanol, and the third phase of the Pardis petrochemical plant, with capacity to produce 1.755 million mt/year of urea and ammonia.
Iran’s petrochemical exports increase 75% in last 5 years

Tehran (ISNA) - Iran’s Oil Minister, Bijan Namdar Zangeneh announced that Iran’s petrochemical exports have faced 75% growth during the last five years.
Happened over the last week of August;

Trading over 374 thousand tonnes of various commodities on IME

Tehran (ISNA) - During weekdays ending up to August 30, while approximately 374,727 MT of commodities worth over $263 million were traded in Iran Mercantile Exchange, the trade volume and value experienced a growth of 47% and 57%, respectively.
Iran inaugurates largest wind farm

Tehran (ISNA) – Iranian Energy Minister Reza Ardakanian has inaugurated Iran’s largest wind farm in town of Tarom in Qazvin province on Monday.
Happened over the third week of August;

Trading various commodities worth over $167 million on IME

Tehran (ISNA) - During weekdays ending up to August 23, approximately 53,433 MT of commodities worth over 167.6 million USD were traded in Iran Mercantile Exchange.
Iranian Parliament votes to impeach economy minister

Tehran (ISNA) – Iranian Economy Minister Masoud Karbasian was impeached on Sunday over mismanagement of the ministry and economic issues.
Russia considering payment in national currencies with Iran, Turkey

Tehran (ISNA) - Russia will definitely respond to Washington’s latest sanctions and, in particular, it is accelerating efforts to abandon the American currency in trade transactions, said deputy Foreign Minister Sergei Ryabkov.
Iran’s Zanganeh says France's Total has officially left South Pars deal

Tehran (ISNA) - Iran's Oil Minister said on Monday that France's Total has officially left Iran after the United States threatened to impose sanctions on companies that do business in the country, Iranian state TV reported.
Iran exports to Pakistan increase by 66 pct

Tehran (ISNA) - Iranian Commercial Attaché in Pakistan, announced that Iran’s exports to Pakistan have registered a 66 percent growth in the first four months of the current Iranian year (March 21- July 22).