Thursday, March 28, 2024

Business

Iran ex-diplomat: Economic development, military might should be in tandem

A former Iranian diplomat has warned government officials of the consequences of ignoring economic development at home while pushing for the defense and military agenda.

Iran FM urges final agreement with India over Chabahar Port

Iranian Foreign Minister Hossein Amirabdollahian has called for a final agreement with India for implementing the Chabahar Port project, in southeast of Iran.

Massive embezzlement scheme uncovered in Tehran state bank, preventing huge losses

In a shocking revelation, the Prosecutor of Tehran has announced the investigation into a major embezzlement case involving a staggering amount of 29 thousand billion rials in one of Tehran's state banks.

Iran says has no more blocked assets in any country

Iranian Foreign Minister Hossein Amirabdollahian has stated that Tehran has no more funds frozen in any country due to the US sanctions and that Tehran can now utilize its own assets.

Iran president inaugurates gas production at Phase 11 of South Pars field, Persian Gulf

Iran officially resumed gas production at Phase 11 of South Pars, the world's largest gas field in the Persian Gulf, after a 20-year delay in a ceremony on Monday attended by President Ebrahim Raisi.

Disputed gas field with Kuwait can be settled through peaceful means: Iranian diplomat

Iran believes a dispute with neighboring Kuwait surrounding a gas field in the Persian Gulf is not a big problem as Ali Asghar Khaji, a senior aide to the Iranian foreign minister says, adding the issue can be resolved given the good relations between the two countries.

Minister: 33 oil projects made operating in Iran with a $12bn investment

Iranian Oil Minister Javad Oji says since the start of the current administration in Iran two years ago, 33 half-completed projects have been inaugurated using a $12 billion investment. 

“Iran Oil ministry increases output, completes projects”

Iran’s Oil Minister Javad Owji has said increasing investment, completing semi-finished oil projects, and boosting oil, gas volume, refining and rising petrochemical outputs have been the most important measures taken by his ministry since two years ago when the administration of President Ebrahim Raisi assumed office.

Iran’s oil exports hit 2.2 million bpd despite US sanctions: Report

Iranian oil exports are surging in August, swelling global flows at a time when other producers are cutting back, Bloomberg has reported citing a firm that monitors satellite imagery of individual tankers. The data shows the country's oil exports have reached levels that were not even seen before Iran came under US sanctions in 2018.

Frozen Iranian funds transferred to Swiss central bank: Report

Iranian assets that had been blocked in South Korea were transferred to Switzerland's central bank last week for exchange and transfer to Iran, South Korean media reported on Monday.

Chinese ambassador: China and Iran at peak of their cooperation

China's ambassador to Iran says the two countries are at the peak of their cooperation, voicing hope that with the efforts of the Iranian and Chinese presidents, bilateral relations will improve more than ever.

Tanker believed to hold Iran oil begins to be offloaded despite Tehran threats

An American-owned oil tanker long suspected of carrying Iranian crude oil began offloading its cargo near Texas late Saturday, tracking data shows. Tehran has previously warned against any move to discharge the cargo.

Dozens of oil, gas projects to come on stream within months: Iran’s VP

Iran’s First Vice President Mohammad Mokhber has stated that 67 oil and gas projects will be put into operation by the end of the current Iranian calendar year (March 19, 2024).

Iran says received guarantees for release of its frozen assets

Tehran has received the “necessary guarantees” that its assets blocked abroad due to the US sanctions will be unblocked under an agreement mediated by regional friends, Iranian Foreign Ministry Spokesperson Nasser Kanaani told reporters on Monday.

Iranian officials seek to allay concerns over “gasoline shortage, price hike”

While Iranian officials have rejected reports that the government is planning to increase gasoline prices at the pump, unofficial sources have not ruled out the price hike.

Chief banker says Iranian bank accounts in Qatar to process released funds

Governor of the Central Bank of Iran Mohammad Reza Farzin has stated that Iranian funds recently unblocked in South Korea as part of a prisoner swap agreement with the United States will be deposited to accounts held by Iranian banks in Qatar despite reports suggesting that Qatar’s central bank will have control over the funds.

Iran and Armenia sign gas-electricity swap deal

Iran and Armenia have signed a new agreement to export Iranian gas to the former Soviet republic. The agreement was signed in a ceremony in the Armenian capital Yerevan with Majid Chegini, Iran’s Deputy Oil Minister, and Mehdi Sobhani, Iran’s Ambassador To Armenia and Sanusian, Armenian Minister of Regional Management and Infrastructure being in attendance.

Iran confirms South Korea unfreezing assets, release of prisoners from US

The Iranian Foreign Ministry says the process of releasing billions of dollars from the assets of the Islamic Republic of Iran, which were illegally seized in South Korea by the United States for several years, has begun.

Bee Breeding in Lorestan, western Iran

Honey is a sweet and expensive liquid that bees and some other insects produce.

Deputy minister: Iran’s daily oil production to hit 3.5mn barrels

The head of National Iranian Oil Company and deputy petroleum minister says Iran’s production of crude oil will surpass 3.5 million barrels per day by the end of September in a new blow to US sanctions on the Islamic Republic.

Iranian FM to participate in economic commission in South Africa

Iranian Foreign Minister Hossein Amirabdollahian will leave Tehran for Pretoria, South Africa, later on Wednesday to take part in a joint economic commission scheduled to be held on Thursday after a three-year pause due to COVID-19 outbreak.

Senior MP says Iran has many options to force South Korea to return frozen funds

A top member of Iran’s parliament has warned that Tehran has many options to force South Korea to pay back over $7 billion of Iranian funds that have remained blocked in the Asian country under the pretext of compliance with US sanctions.

Iran reports 37% surge in domestic wheat purchases

Iran reported a major surge in domestic wheat purchases with an official in the country’s agriculture ministry (MAJ) stating the purchases have risen by 37% in the harvest period between April and early August compared to the same period last year.

Iran official says Bushehr nuclear power plant’s output topped 60 bn kW/h

The total electricity produced at Iran’s only nuclear power plant after some 12 years of activity has reached 60 billion kilowatt hours (kw/h), according to Head of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami.

Closure of Iranian E-com giant lifted

The shutdown of Iran’s e-commerce giant, Digikala, came to an end on Thursday afternoon after the relevant authorities lifted the ban they had imposed on the online retailer.

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