Economy

Since the termination of anti-Iran sanctions in January, the country has succeeded in increasing its crude exports by 400,000 barrels per day, getting closer to the intended selling 2 million bpd of oil, a top official announced.

Deputy Oil Minister Rokneddin Javadi said on Sunday that production of Iran's crude oil increased 400,000 barrel each day and the figure is expected to increase by another 200,000 barrels.

Chaleshtar in the central district of Shahrekord, the provincial capital of Chaharmahal-Bakhtiari, is going to be home to Iran's first carpet village, says the head of Carpet Department at the provincial Industries, Mines and Commerce Organization.

A 60-member trade delegation from Tehran Chamber of Commerce is to travel to Germany today.

The secretary of Iranian Supervisory Council for Toys said that $3 million toys are imported to Iran every month meaning that 90% of Iranian market is related to foreign toys.

The 55th annual general assembly of Central Bank of Iran (CBI) was attended by President Hassan Rouhani and bank officials on Saturday.

Iran and Japan held their 11th meeting to discuss human rights issues here on Saturday.

President Hassan Rouhani said Iranian banks were the main targets of sanctions imposed against the country in the past few years.

Iran’s first vice president says the country’s oil exports will reach 1.5 million barrels per day (mb/d) next month as Tehran moves to benefit from sanctions relief.

The South Korean government has promised to provide financial support to companies willing to invest in Iran which is emerging from isolation.

The French auto manufacturing company PSA Peugeot Citroen started its negotiations with the Iranian side a few months before Iran and the Group 5+1...

Iran said on Tuesday that it needs as much as $200 billion in investments to revamp its oil industry.

Minister of Agricultural Jihad Mahmoud Hojjati said here on Tuesday that Iran and Italy are set to ink three cooperation agreements today.

Iran's Oil Minister Bijan Zangeneh says the country is currently exporting 300,000 barrels per day of crude oil to European countries and the figure will rise when new contracts are signed with European oil majors.

The Chief Executive Officer (CEO) of Vinci SA, a France-based company, said the group is in initial talks with Iran over construction of high-speed train stations in the Islamic Republic following the termination of anti-Tehran sanctions.

France’s energy giant Total will start importing 160,000 barrels per day (b/d) of crude oil from Iran later this month, Iran’s petroleum minister says.

Head of Iran National Carpet Center Hamid Karegar says the Islamic Republic will resume export of its hand-woven carpets to US in near future.

Iran and Japan have signed an investment agreement in a bid to boost economic cooperation after the lifting of nuclear-related sanctions against Tehran.

Iranian stocks have climbed to their best performance in a year, buoyed by international rush for business in the wake of a nuclear deal which went into effect last month.

The National Iranian Copper Industries Company (NICICO) and Germany’s MKM Mansfelder Kupfer und Messing GmbH, which is one of the largest European holding companies, signed a one-billion euro deal to develop cooperation in copper industry.

Austria’s Raiffeisen Bank International (RBI) says it wants to open a branch in Tehran “as quickly as possible,” becoming the first foreign lender to set up shop in Iran after the lifting of sanctions.

Germany's Linde Group and Japan's Mitsui have said that they are planning to jointly invest $4bn in a number of petrochemical projects in Iran, an official said.

Iran’s Ministry of Agriculture bans state imports of wheat in the coming Persian year which begins on March 20, ordering officials to stop registering new purchase orders.

Managing Director of Exports Development Bank Ali Salehabadi said a credit line with a value of 20 million euro has been provided for export of goods to Russia.

Iran’s national airline, Iran Air, finalized a contract with ATR aircraft manufacturer on Monday to purchase 20 turboprops.