Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei conferred with Turkey’s President...
Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei conferred with Turkey’s President...
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Foreign Minister Mohammad Javad Zarif accused President Donald Trump of planning to...
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Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei on Thursday called for...
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China's crude imports from Iran are likely to have peaked in August at 874,000 barrels per...
World oil consumption will reach 100 million barrels per day later this year, hitting...
China has more solar energy capacity than any other country, at a gargantuan 130 gigawatts.
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Washington will consider waivers for Iranian oil buyers such as India but they must eventually...
Some 2,400 projects are underway in water, wastewater and power sectors across the country, which have progressed by 60% on average.
Energy Minister Reza Ardakanian made the statement on Thursday during his visit to the western Kurdestan Province to inaugurate a number of water and power projects, ISNA reported.
“Some 15 trillion rials ($357 million) have been spent on the plans underway, which still need 13 trillion rials ($310 million) to become operational,” he said, adding that most of the projects are planned to go on stream until mid-2021 that marks the end of President Hassan Rouhani’s second term in office.
"As per the ministry’s comprehensive plan, 5,000 megawatts will be added to Iran’s total power generation capacity in the next fiscal year (starting March 21, 2019)."
In line with plans to boost gas output from South Pars Gas Field in the Persian Gulf, the second offshore platform of the field’s Phase 14 was installed with flying colors.
According to Hamidreza Masoudi, director of the phase, the satellite platform 14C will add over 500 million cubic meters [14.1 million cubic meters] to the giant field’s production capacity, Shana, Oil Ministry’s portal, reported on Friday.
The official noted that the gigantic structure, weighting 2,200 tons, has been built by domestic experts in the yard of Iran Marine Industrial Company, aka Sadra, in Bushehr.
The platform, loaded on September 2, was transferred and installed in less than four days using the 124 FLB crane barge.
Iranol Oil Company, a major local motor oil producer, has launched a new export terminal at Imam Khomeini Port in the southern Khuzestan Province.
According to Isa Es'haqi, managing director of Iranol, the terminal comprises eight bunkering units of different sizes with a collective storage capacity of 25,000 tons, Shana reported.
"Three units each with a capacity of 5,000 tons are allocated to heavy products, while four 2,500-ton tanks will be used for base oils and the last tanker will contain water for emergencies," he added.
Base oils are used to manufacture products, including lubricating greases, motor oil and metal processing fluids.
Some 800,000 tons of apples have been exported from Iran since the beginning of the current Iranian year on March 21, which is a record high, an official with the Ministry of Agriculture said on Wednesday.
“Last year’s (March 2017-18) total exports stood at close to 600,000 tons. Iran’s apple exports go to Middle Eastern countries, especially the Iraqi Kurdistan region, Pakistan and Turkey, as well as some European countries,” Shokrollah Hajivand was also quoted as saying by IRNA.
Based on figures released by the Food and Agriculture Organization of the United Nations, Iran is the ninth biggest producer of apples worldwide. In exports, the country ranks ninth in terms of weight and 14th in value. “The country accounts for 1.87% and 4.05% of the global production and exports respectively,” the deputy head of Export Promotion Office with the Ministry of Agriculture, told Financial Tribune last year.
More than 421 tons of pencil sharpeners and blades worth $3.23 million were imported into Iran from 15 countries during the first four months of the current Iranian year (March 21-July 22), data released by the Islamic Republic of Iran Customs Administration show.
China was the biggest exporter with more than 291 tons worth about $1.13 million. Other major exporters of the products to Iran during the period under review include Austria, Germany, the UAE, Indonesia, the UK, Italy, Taiwan, Turkey, Sweden, Switzerland, Poland, Malaysia, India and Hong Kong, Mizan Online reported.
Iran government’s fight with hoarding is heating up.
Back-to-back reports being published on police confiscating goods in warehouses across the country are meant to assure people that, despite economic upheavals, the government seeks to protect them from hardship and exploitation.
However, this policing strategy of confiscating goods has impinged on the commercial liberties of pharmaceutical firms and honest traders.
“Iranian government committed several mistakes in its policies on foreign currency market and now, economic players are being treated with suspicion,” Nasser Riahi, chairman of Iranian Pharmaceutical Importers Association, told Tehran Chamber of Commerce, Industries, Mines and Agriculture’s news outlet.
“Such an approach is against the presumption of innocence, the principle that one is considered innocent unless proven guilty.”
Iran traded 314,972 tons of non-oil commodities worth $81.41 million with Kazakhstan during the first four months of the current fiscal year (March 21-July 22), registering a 95.46% and 37.64% of increase in tonnage and value respectively compared with last year’s corresponding period, the latest data released by the Islamic Republic of Iran Customs Administration show.
Iran will hand over the strategic Chabahar Port to an Indian company within a month for operation as...
A review of data by the Central Bank of Iran shows that residents of Tehran, the bustling capital city accounting for roughly half of all home sales in the country, increasingly favor smaller homes as their purchasing power has dwindled.
The latest report on housing developments in Tehran published by CBI on its official website showed that as the total number of home deals in the city during the fifth month of the current year that ended on Aug. 22 indicated a year-on-year decline of 33.2%, average prices for each square meter of a residential unit signaled a massive 62.1% surge.
The Iranian government has recognized cryptocurrency mining as a lawful activity as part of its effort to introduce a national cryptocurrency, which move saw Bitcoin’s price briefly spike to record levels on local exchanges. According to news agency IBENA, which is affiliated to the Central Bank of Iran, Abolhassan Firouzabadi, the secretary of Iran’s High Council of Cyberspace, stated on Tuesday that cryptocurrency mining “has been accepted as an industry by the government”. Following the country’s recognition of crypto mining, reports indicate that the price of Bitcoin on some local exchanges such as Exir peaked to over $24,000–exceeding the global average all-time high of $20,000 seen in December–while prices elsewhere were around $7,000, Coindesk.com reported. Data from CryptoCompare back up the reports, indicating that OTC trading prices on LocalBitcoins briefly reached as high as $25,000.
A review of official data published in Central Bank of Iran’s reports by Tehran Chamber of Commerce...
Iran’s rial recouped some of its losses after hitting a record low against the US dollar on Thursday on the open market, according to reports, as the economy continues to face pressure from the reimposition of US sanctions.
The dollar was being offered at 140,000 rials on Wednesday and had hit the record low of 150,000 rials earlier in the week– a figure considered by many to be a "super-resistance level".
However, on Thursday, the Iranian currency pared some of its losses and was quoted at about 138,000 to the dollar. Rial's gain continued on Friday, a day on which official markets are closed, with the dollar being traded at around 133,000 rials.
Around 61.7 million tons of goods were loaded and unloaded in Iranian ports from March 21 to Sept. 4, registering a decline of 9.2% compared with last year’s corresponding period, managing director of Ports and Maritime Organization of Iran, Mohammad Rastad, said. Non-oil imports and exports through ports stood at 11.7 million tons and 22.7 million tons over the period under review to post a decline of 16.6% and 1.2%, respectively. “The decline in imports has nothing to do with sanctions and is mostly the outcome of market condition. Traders chose to import less in the first half of the current year,” Mehr News Agency quoted him as saying.
Customs clearance process for imports is back to normal following the announcement that 3,479 items have become exempt from exchange rate difference surcharge, the head of the Islamic Republic of Iran Customs Administration said.
Foroud Asgari added that IRICA releases up to 90% of commodities of traders facing banking problems, ILNA reported.
Echoing similar remarks, Alireza Dashtani, director of Shahid Rajaee Customs, said as many as 2,500 containers are being cleared daily from the customs of Shahid Rajaee Port, Iran’s biggest container port at the mouth of the Strait of Hormuz in southern Hormozgan Province.
"Most of these goods are essential goods, raw materials and auto parts,” he said.
New developments in the Iranian capital market seem to have stemmed in large part in the mercantile exchange. The same trend was seen last week with the oil-product pricing conundrum.
The lost faith does not seem to have returned to the market, as the accumulation of good news did not lead to solid gains for stock market players in last week’s trade.
Tehran Stock Exchange's all-share index, TEDPIX, inched up 242 points or 0.2% during the week that ended on September 7 to close at 137,714.2.
The 12th International Iran Plast Exhibition is scheduled to open at Tehran International Fairground on September 24, according to the event’s official website at Iranplast.ir.
Organized by the National Petrochemical Company, the expo has been organized with the aim of bringing prosperity to domestic market and easing trade.
The expo is the biggest event in the Middle East plastic industry and among the world’s top plastic industry events.
It will be held in four categories of raw materials, finished and semi-finished products, machinery and services.
The four-day event will conclude on Sept. 27.
You would not know it from reading the news, but the Iran nuclear deal is still alive.
The Europeans, however, are faced with an impossible task: to preserve an international agreement that cannot survive without Washington’s backing in the face of an aggressive US posture toward Tehran, reads an article published by the Atlantic Council.
Below is the full text:
In May, US President Donald Trump pulled out of the nuclear deal. The United States next reimposed a first batch of economic sanctions on Iran in early August. Multinational companies have started leaving Iran even before the November 5 deadline by when Washington will enact a renewed oil and gas embargo on the country.
Digikala, a carbon copy of Amazon in Iran and one of the country's leading startups, in an open letter to employees announced that while the company has been forced to lay off 175 people, it will adopt strategies that will help it maneuver the firm out of economic hardships.
Company founders Hamid and Saeed Mohammadi pointed to the poor economic conditions as the reason for the downsize, and described the dismissal of 175 employees as one of the toughest decisions they ever had to make, but stressed that it is necessary for sustaining the business as a whole. News website ITIran published a copy of the letter.
Two Iranian startup accelerators Avatech and Shezan, along with shared office space provider Zavie Co and startups consultancy agency Noava, have been merged and will operate under the name Hamava.
Hamava’s public relations manager Iman Jalili told Peivast, “All of these firms except Shezan are currently based in Hamava Innovation Factory.”
Privately-owned technology park Hamava Innovation Factory has been established at an abandoned chemicals factory near Azadi Square west of Tehran.
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The Iran-China Friendship Association convened a panel of tourism experts during the second conference on the prospects of developing relations between the two countries on Sept. 4-5 to discuss the so far neglected sector in bilateral ties.
China has emerged as the world's largest tourist source market with 120 million outbound travelers each year. Moreover, it hosts over 85 million inbound tourists annually, Alef news website reported.
With these figures, the East Asian country is a key player in the global tourism industry.
With the collaboration of neighboring Turkey, Ardebil Province will soon establish efficient hydrotherapy facilities in a bid to tap the province's potential in medical tourism.
This was promised by Ardebil's governor general after meeting professors of medicine at Istanbul University and visiting its affiliated hydrotherapy center on Thursday, CHTN reported.
During his visit, Akbar Behnamjou highlighted Ardebil's capacity in health tourism and the possibility of improving hydrotherapy facilities in the province, using modern technology and the experience of Turkey in the field.
"The Turkish tourism authorities and academic bodies have expressed readiness to contribute to upgrading the province's health tourism," the official said.
The Cultural Heritage, Handicrafts and Tourism Organization's office in Chaharmahal-Bakhtiari Province has issued 22 licenses for the establishment of new ecolodges over the past two and a half years, a provincial official said.
"Since February 2016, permits have been issued for the operation of 22 ecolodges in the province, of which 14 are already in operation and the rest are going through renovation and restoration," said Morteza Mahmoudian, who oversees ecotourism development in Chaharmahal-Bakhtiari.
The provincial ecolodge industry, which is mainly concentrated in the cities of Shahr-e Kord, Borujen, Ardal and Kuhrang, has so far generated 40 direct and 70 indirect jobs, Mohammadian said, CHTN reported.
After all the newly-licensed facilities come into service, the capacity of the southwestern province to accommodate eco-tourists will increase to 500, from 200, and ICHHTO is reviewing 25 more license applications.
The first intra-provincial tourist train in Kerman Province which made its first trip last week will operate on a weekly basis. According to the head of provincial office of Iran's Cultural Heritage, Handicrafts and Tourism Organization, the new train sets off from Kerman and moves toward Rayen and Bam cities, going past the nearby historical attractions, ISNA reported. Pointing to the short distance the train covers, Gholamreza Farrokhi said only a small number of Kerman's multiple sites are located near the route. He, however, pledged to add other sites located near railroads in the plan. "The first day-long tour was held last week as an opening trip," he said. Reportedly, the project, which has been implemented jointly by ICHHTO, the Railways Company and a regional travel agency, aims to introduce the province's attractions to local residents as well as domestic and foreign tourists.
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A group exhibition of landscape painting opened at Fereshteh Art Gallery in Tehran on Friday.
The bilingual biographical novel “The Childhood Story of Hafez” that provides an account of the...
Spiritual Sanskrit epic of ancient India the “Mahabharata,” also known as the great tale of the Bharata...
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The front-runner in Brazil’s presidential election, Jair Bolsonaro, has been stabbed at a campaign rally.
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