Economy

The share of National Development Fund of Iran from oil revenues has decreased to 20 percent from a previous 26 percent.

Farhad Nili, the director of the Monetary and Banking Research Institute, has said that an economy without oil can be envisioned for Iran.

The Chairman of the Expediency Council has said in a message to an International Brand Strategy Conference that Iran’s dignity is closely interwoven with the quality products it makes at home or sends abroad.

Mohsen Renani, a university professor, says he does not buy arguments that Saudi Arabia has refused to reduce its output only to undermine Russia, Syria and Iran.

Iran is keen to boost ties with China and views its relations with Beijing as strategic, said Ali Akbar Velayati.

Economy Minister Ali Tayyebnia has said that government is trying to turn the threat posed by falling oil prices into an opportunity for the country.

Underscoring Iran’s determination to expand ties with Kazakhstan, the head of the Trade Development Organization voiced Tehran readiness to clear any hurdle.

The secretary of the Expediency Council says that Iran and China can make joint investment in Iraq if China fully cooperates with Iran.

We did not expect to see the Iranian people and companies in such welfare and comfort: rather we thought that the sanctions have paralyzed the life and economy of Iran, said Silvano Pascuno.

The government is going to spend more economically if its anticipated oil revenues for next year’s budget bill are not materialized.

Seyyed Abbas Araghchi, a deputy Iranian foreign minister, talks about Tehran-Tokyo ties in the wake of the Geneva interim deal.

The IMF has projected a 2.2% real GDP growth for the Islamic Republic of Iran in 2015.

Iran, the fifth country in the region in terms of foreign investment absorption, stands a good chance of attracting more capital from abroad.

Iran has allocated USD 15.2 billon for the development of joint oilfields with neighboring Iraq as part of the Islamic Republic’s plans to increase its oil output.

Tehran is ready to promote cooperation with Minsk in areas such as standardization, bourse, exports of techno-engineering services and holding exhibitions and providing related services.

An Iranian MP did not rule out the possibility of a contractual penalty delay on Pakistan after it failed to honor its obligations under a joint gas pipeline project with Iran.

Tehran and Minsk enjoy growing relations in the political and economic sectors, but both sides must take more serious steps to further strengthen their economic ties, said Jahangiri.

A report released by the Central Bank shows that Iran’s economy posted 4 percent growth in the first half of the year [started March 2014].

A slump in prices is temporary and it will be “difficult, if not impossible” for OPEC to curb its oil production amid a glut, said Ali Al-Naimi, Saudi Arabia’s oil minister.

A consignment of linear low density polyethylene (LLDPE), measuring 2,000 tons with a total value of over $2 million, will be shipped to Belgium next week.

Under a 5-phase joint venture between Iran and Kuwait a steel mill is to be set up in the Persian Gulf Special Mineral Industry Zone in southern Iran.

It is not hard for Iran and South Africa to raise their non-oil trade to $2 billion if their business sectors earnestly get down to business.

Elias Naderan, a principlist MP, says government coffers rely on revenues generated by the government’s monopoly over oil industry and other natural resources.

A German trade delegation is in Tehran to talk business with Iranian officials and size up investment opportunities in the country.

A four-day International Exhibition of Electronics, Computer and E-Commerce opens in Tehran.