Friday, March 1, 2024

Economy

IMF revises up its 2023 economic growth forecast for Iran

The International Monetary Fund (IMF) has revised up its 2023 economic growth forecast for Iran amid its better oil exports and despite the continued pressure of the US sanctions.

“Iran missed an opportunity to attract huge Russian investments” 

A member of the Presiding Board of the Iran-Russia Joint Chamber of Commerce says Iran missed an opportunity to attract the investments of Russian businesspeople after the war in Ukraine.

Sources say Iran, India set to sign long-term deal on developing Chabahar Port

Iran and India are expected to ink a long-term agreement for the development of Iran’s Chabahar Port by September before the Global Maritime India Summit 2023 scheduled to be held in New Delhi in October, two people familiar with the matter have stated.

Raisi presents to parliament motion to appoint arbiters in dispute with South Korea over frozen assets

Iranian President Ebrahim Raisi has forwarded to the Parliament a motion to appoint arbiters in a dispute with South Korea over frozen Iranian assets in the East Asian country.

No one purchasing Iranian oil stuck off US coast: Report

A cargo of Iranian oil remains stranded off the United States coast because no one buys it despite the fact that Washington has authorized its unloading to ensure that buyers would not face penalties because “it is from a sanctioned country”, according to a report.

Central Bank says Iran’s foreign debt shrank by 27%

Iran’s foreign debts were reduced to $6.282 billion in the last Persian calendar year (ended on March 20), showing a 27.6 percent decrease compared to a year before, according to a report by the Central Bank of Iran (CBI).

Beijing’s envoy: China backs Iran’s bid to join BRICS

China’s ambassador to Iran says his country supports the Islamic Republic’s bid to join the BRICS group of emerging economies.

IMF predicts Iran’s inflation to shrink in 2024

A report by the International Monetary Fund (IMF) says that the soaring inflation rates in Iran will fall significantly with an increase in demand for Iranian oil in major Asian economies and amid a gradual drop in consumer prices across the globe.

Iran emerges as biggest crude steel producer in West Asia: Report

The latest data released by the World Steel Association (WSA) show that Iran’s production of crude steel has accounted for 70% of the total output in the Middle East region during the first five months of the current year.

Iranian minister says Baghdad vowed to facilitate Tehran access to frozen assets

Iranian Minister of Economy Ehsan Khandouzi says that Baghdad has pledged to facilitate Iran’s access to its blocked assets in Iraq.

Iraqi president calls for bolstering ties with Iran

Iraqi President Abdullatif Rashid says that Baghdad attaches great importance to strengthening relations with Tehran in the trade and energy fields.

President Raisi says Iran’s SCO membership will have historical benefits

Iranian President Ebrahim Raisi has highlighted the long-term and positive impacts of Iran’s full membership in the Shanghai Cooperation Organization. He stated that Tehran’s membership in the SCO will have historical benefits. He made the remarks in an address to the 23rd SCO summit which was held via video conference.

Iran officially becomes member state of Shanghai Cooperation Organization

Iran’s membership at the Shanghai Cooperation Organization (SCO) is officially approved at a meeting of the politico-economic alliance.

Iranian official says Baghdad has released $10 billion of Tehran’s blocked assets

Yahya Al-e Es'haq, chairman of the Iran-Iraq Joint Chamber of Commerce, has confirmed that the Iraqi government has released all of Tehran’s frozen assets, amounting to $10 billion worth of energy debts.

Official: Iran gas production 110-115m liters daily, meets demand for now

The secretary of Iran's refining industry union says the country’s refineries are producing 110 to 115 million liters of gasoline daily, which has met the local demand so far.

Iran installs heaviest platform at Phase 11 of South Pars Gas Field, Persian Gulf

Iran successfully completes the operation to install the heaviest platform of South Pars in place, as the country pushes to operationalize the Phase 11 of the giant Persian Gulf gas field.

Sri Lanka says to barter tea for Iran’s oil

Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters.

Iran FM, UAE chief call for promoting trade ties

The Iranian foreign minister and the president of the United Arab Emirates have called for a mechanism aimed at improving bilateral ties specially economic and trade relations.

Official: Iranian businesses expect big jump in trade with Arab states

Iranian businesses believe trade with Arab countries of the Persian Gulf could see a jump in the near future amid a political rapprochement between Tehran and Riyadh, an official with Iran's private sector says.

Iran, Cuba ink 6 cooperation agreements

Tehran and Havana have signed six major deals to expand economic, political and judicial cooperation between the two countries. The memoranda of understanding (MoUs) were signed on Thursday during Iranian President Ebrahim Raisi’s state visit to Cuba.

Iran’s envoy calls for economic synergy with Russia

Iranian Ambassador to Moscow Kazem Jalali told RT during the St. Petersburg International Economic Forum on Wednesday that countries targeted by Western sanctions should unite to resist monopolar global hegemony.

Iran’s Central Bank chief holds ‘successful’ meeting with Qatari counterpart

The governor of the Central Bank of Iran (CBI) says he held a meeting with his Qatari counterpart for talks on financial cooperation between the two neighbors.

Economist claims Iran inflation under Raisi set new record high since WWII

An Iranian economist criticizes President Ebrahim Raisi’s handling of the country’s economic issues, claiming that the inflation set a record high in eight decades under his administration.

Tehran: Serious steps taken toward release of frozen Iran assets

The spokesman for Iran’s Foreign Ministry says effective steps have been taken toward the release of Iranian assets frozen in other countries.

China’s envoy to Iran says Beijing-Tehran deal beneficial for both countries

Chinese ambassador to Iran Chang Hua has said the implementation of a 25-year comprehensive strategic partnership agreement between Beijing and Tehran will improve the livelihood of both nations.

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