Economy

Iran to Support OPEC Oil Cut Extension If Unanimity Reached

Iranian Minister of Petroleum Bijan Zangeneh says he believes most members of the Organization of the Petroleum Exporting Countries (OPEC) would endorse extension of the organization's output cut initiative in the upcoming OPEC meeting, adding Iran would also support the cut extension if other members unanimously back it.

78% Increase in Iran-EU Trade Transactions

Trade transactions between Iran and the European Union (EU) reached €13.744 billion in 2016, showing a 78-percent growth compared to the figure for 2015.

Enemies Using Economic Pressure to Achieve Goals: Iran Leader

Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei says the issue of economy is a priority for Iran, adding that the enemies seek to undermine the trust of the Iranian nation in the Islamic establishment through mounting economic pressure.

Nuclear Deal Boosts Foreign Investment in Iran: Larijani

Iran’s parliament speaker says the signature of a nuclear agreement between Tehran and the P5+1 group has led to a relative rise in foreign investment in the country.

189% Increase in Employment of Iranian Women in Executive Jobs

Iran’s minister of labour says the number of Iranian women employed in executive positions shows a huge growth compared with three years ago.

Iran to Join FATF by May: Central Bank Governor

The governor of the Central Bank of Iran believes that the country will be able to meet the conditions needed to become a full-time member of the Financial Action Task Force when the organization takes up Iran's case in May.

Iran Exports Milk to US for First Time in History

For the first time in Iranian history, the country has exported milk to the United States, Deputy Agriculture Minister Hassan Rokni announced on Thursday without providing any further information about the value of trade or time of delivery.

Trump’s First Positive Move towards Iran Deal Implementation

A recent move by the US Treasury Department to allow US nationals to open accounts at Iranian banks could be perceived as US President Trump’s first positive move towards implementing the nuclear deal with Tehran.

Iranian MPs Call for Caution in Dealing with FATF

A number of Iranian lawmakers have criticized the Financial Action Task Force (FATF) for its anti-Iran statement, and called on Iranian officials to be extremely cautious about the privileges they grant the organization.

France to Give Loans to Companies Investing in Iran

Finance Minister Michel Sapin announced that Paris is working on plans to issue direct loans to companies that want to invest in Iran.

Resilient Economy Requires Int’l Cooperation: Iran’s FM

Iranian Foreign Minister Mohammad Javad Zarif says a resilient and sustainable economy requires cooperation at all sub-regional, regional and international levels, and the IORA provides its member states with a great opportunity to enhance their economic ties.

Russian Carmaker UAZ to Launch Assembly Line in Iran

A Russian trade website says a leading automobile manufacturer is set to establish an assembly line in Iran in 2018.

Iranian MP Calls for Use of Int’l Standards in Banking Transactions

An Iranian lawmaker underlined the need for using global financial standards in Iran’s economy so that the country’s international banking and economic relations can develop.

MP Calls for Use of IFRS to Boost Foreign Investment in Iran

An Iranian MP has emphasised the need to use the international accounting standards in order to attract foreign investors to Iran.

Iran to Base 50% of Products on Knowledge-Based Methods

An Iranian Science Ministry official announced that the Islamic Republic aims to produce 50% of its goods using knowledge-based methods by 2025.

Iran Exports $500m Worth of Carpets in 10 Months

Some $500 million worth of carpets were exported from Iran during the 10 months to January 19, according to the deputy minister of industries, mining and trade.

Iranian President Visits Flare Minimization Plan in Southwest

During his Thursday visit to southwestern province Khuzestan, Iran’s President Hassan Rouhani visited the AMAK plan, the largest environmental project of the country in oil and gas sector.

Iran Keen to Increase Investments in Iraqi Projects

An Iranian trade official announced that the Islamic Republic plans to boost its investments in the neighbouring Iraq.

$8.5b in Foreign Funds Approved in Post-JCPOA Era: Iranian Minister

An Iranian minister says $8.5 billion in foreign investment have been approved by the Organization for Investment and Technical Assistance of Iran in the post-sanctions era, of which $5.5 billion pertains to the industry and mining sector.

Bosnian Business Delegation Due to Visit Iran on Saturday

An economic delegation from Bosnia and Herzegovina will arrive in Iran on Saturday in a visit aimed at expanding economic relations between the two countries.

Iran’s Agriculture Sector More Appealing than Turkey’s: Foreign Financiers

A number of foreign investors believe that Iran’s agriculture sector is more appealing for them than that of the neighbouring Turkey.

Korea and EU States Main Customers of Iran’s Pomegranate

South Korea was the biggest customer of Iranian pomegranate. Other export destinations include Germany, the UK, the UAE, Ukraine, Sweden, Switzerland and the Netherlands,...

US Puts Chinese Firm on Sanctions List for Selling Fire Hydrants to Iran!

Two Chinese companies included on a new US sanctions list targeting Iran said on Sunday they had only exported "normal" goods including fire hydrants to the Islamic Republic and didn't consider they had done anything wrong.

Germany, Top Customer of Iran’s Barberry

Many countries including the US, Britain, Canada, Australia, and Austria bought barberry from Iran in 2016, but Germany imported the highest amount.

Iranian MP Calls for Minimised Export of Unprocessed Saffron

An Iranian lawmaker criticized the export of unprocessed Iranian saffron, saying a portion of the Iranian saffron exported to European and Arab states is rebranded and resold by these countries.

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