A lack of communication between Tehran and Washington has heightened concerns over a potential conflict in the strategic Persian Gulf, Iran's chief diplomat said.
A lack of communication between Tehran and Washington has heightened concerns over a potential conflict in the strategic Persian Gulf, Iran's chief diplomat said.
Qatar has spoken out against Washington’s decision to block all exports of Iranian oil, saying unilateral sanctions were unwise because they hurt the countries that rely on the supplies.
Pakistan’s Foreign Minister Shah Mehmood Qureshi on Thursday briefed lawmakers on recent developments in Pakistan's relations with Iran, saying the two neighbors recently experienced an uptick following the sharing of information regarding border developments and Pakistani Premier Imran Khan's visit to Tehran.
Turkey will be unable to diversify oil imports quickly after the United States ended waivers on purchases from Iran, the Turkish foreign minister said on Thursday, a day after a US-imposed sanctions deadline passed.
Saudi Arabia’s coast guard assisted an Iranian oil tanker with engine trouble off the coast of Jeddah in the Red Sea after Riyadh received a request for help from Iran.
A 1000-kilowatt solar power plant became operational in the northwestern Ardabil Province on Thursday, the head of provincial regional electricity company said.
Unilateral measures to cut Iranian oil exports to zero will not produce the results desired by the Trump White House.
The national gas grid will be completed in three years after which the entire country will have access to the network by 2023, managing director of Iran Gas Company said at the weekend.
“Gas meets 70% of the country’s energy need and extending gas network is one of the strengths of the gas industry as it helps transfer energy from refineries in remote areas to urban and rural areas,” the Oil Ministry news website Shana quoted Hassan Montazer-Torbati as saying.
Data released by the National Iranian Gas Company shows 260 billion cubic meters of gas can be supplied across the country annually making Iran the fourth largest gas grid in the world after the US, Russia and Canada.
Iran traded 2.04 million tons of non-oil commodities worth $942.29 million with Thailand in the last fiscal year (ended March 20, 2019), registering a 14.83% and 13.05% decline in tonnage and value respectively compared with the year before.
Iran traded 5.06 million tons of non-oil commodities worth $2.68 billion with Caspian Sea littoral states in the last fiscal year (ended March 20, 2019) to register a 22.32% and 31.51% growth in tonnage and value respectively compared with last year’s corresponding period.
Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 2.52 million tons worth $1.22 billion during the year, indicating a 0.03% and 0.01% increase in tonnage and value respectively year-on-year.
Imports stood at 2.54 million tons worth $1.46 billion, up 0.51% and 0.75% in tonnage and value respectively YOY.
Located between Europe and Asia, the Caspian Sea, the world's largest lake, is bounded by Kazakhstan to the northeast, Russia to the northwest, Azerbaijan to the west, Iran to the south and Turkmenistan to the southeast.
The industrial sector's average Producer Price Index in the year ending March 20, 2019 (the final day of the last fiscal year) grew by 64.6% compared with the same period of the year before.
According to the Statistical Center of Iran, the overall PPI of industrial sector stood at 479.9 in Q4, indicating a 14.1% increase compared with the previous quarter and an 89.2% growth over the same quarter of the previous year.
The rise in industrial PPI was mostly driven by a rising producer inflation in “coal production industries-oil refineries” subsector, which reached 538.2, posting a 12.6% rise compared with the quarter before.
Iraq was the biggest importer of Iran's mineral products worth $1.93 billion in the last fiscal year that ended on March 20, 2019.
According to data released by the Iranian Mines & Mining Industries Development & Renovation, a total of 9.67 million tons of different mineral products were exported from Iran to neighboring country last year.
In terms of weight, however, China was the biggest export destination as it imported 19.22 million tons.
According to Secretary-General of Iran-Iraq Chamber of Commerce, Hamid Hosseini, Iran's mineral exports to Iraq last year mainly included non-precious metals worth $1.13 billion, which experienced a 50% rise compared with the year before.
Iran Chamber of Commerce, Industries, Mines and Agriculture hosted an economic forum with representatives of Syria’s private sector led by Samer al-Debs, chairman of Damascus Chamber of Industry, on May 1.
Syria has entered the reconstruction stage after the eight-year-long civil war and needs steel, cement and electricity. Iran’s private sector would be of great help in this regard, Syrian participants said in the event.
The civil war has taken an enormous toll on the Syrian economy and infrastructure, with the cost of war-related destruction estimated by the UN at about $400 billion. As Syrian President Bashar al-Assad has reclaimed most of his country, the Syrian authorities are engaged in rebuilding the country.
The first phase of Bistoon Steel Mill was inaugurated in Harsin County, Kermanshah Province, on May 1 in the presence of President Hassan Rouhani and Minister of Industries, Mining and Trade Reza Rahmani.
Governor of the Central Bank of Iran has outlined six monetary and banking plans to help fend off the new US economic sanctions.
Abdolnasser Hemmati in an Instagram post Friday said the CBI is stepping up efforts to control currency rate volatility and curb the galloping inflation.
Hemmati spoke of a relatively less-publicized plan -- setting up a bartering system to facilitate trade with Iranian partners overseas.
Bartering goods can and should help when almost all foreign monetary channels are closed due to the US banking restrictions, he said.
Amid the upbeat in the Tehran stock market, gold and currency closed the week bullish despite decline in international gold prices.
The US dollar briefly climbed above the resistance level of 145,000 on Thursday, up 1.5% compared to a day earlier. The euro traded for 162,000 rials and the UK pound fetched 187,000 rials.
The gold market, which took influence from both the local and global currency market, soared on Thursday spurred by stoking forex rates and indifferent to the fall in the global value of the yellow metal.
Gold coin climbed to over 50 million rials ($357) on Wednesday to break the resistance channel for a second time in the week.
Banks and credit institutions continue to reduce their local branches in the past three months, although the overall cuts are not significant, IBENA reported.
A total of 23,395 branches of banks and credit institutions were operating in Iran in the month to April 21. This is while the total number of branches was 23,549 at during the month to February 19.
The decline, however small, comes as senior authorities emphasize the need to remove unwanted and unhelpful branches to cut costs and encourage customers to embrace mobile banking instead of approaching a physical branch.
Iran’s floor area per person has increased to 27 square meters to equal that of Germany and France, up from 25 square meters in the fiscal 2006-7.
The figures are lower than in Egypt, Morocco, Azerbaijan and South Korea, according to the Institute for Management and Planning Studies' latest findings, Hibna reported.
As per the United Nations' definition, floor area per person is defined as the median floor area (in square meters) of a housing unit divided by the average household size. This indicator measures the adequacy of living space in dwellings. A low value for the indicator is a sign of overcrowding.
Science and technology parks based in Tehran and Gilan provinces have signed an agreement to boost cooperation between their knowledge-based affiliates.
A smart city project was launched in Bushehr, the center of a namesake province in southwestern Iran on Tuesday to implement smart urban management strategies in the coastal city to make life easier for the general public.
The project, planned in collaboration with Austria's Institute of Science and Technology, is set to be implemented by Iran's Information Technology Development Center and Bushehr municipal authorities, ANA reported.
The project was launched on the occasion of the national Persian Gulf Day that is annually observed to highlight the significance of one of the world's key water body.
Iranian Internet service provider HiWeb has acquired a 23% share in the country’s fourth communications operator Iranian Net.
Iranian Net, along with landline and mobile operators Telecommunications Company of Iran (TCI), Mobile Telecommunications Company of Iran (MCI) and MTN-Irancell are the country’s main communication operators.
According to permits issued by the Communications Regulatory Authority, Iranian Net has been charged with establishing the country’s fiber-optic network, a lucrative business in the fast-growing market.
HiWeb has acquired the shares from the ICT arm of Etemad-e-Mobin (Mobin Trust Consortium), news website Peivast reported.
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