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       11 December 2016 - Sunday - 11 Rabi al-Awwal 1438 | 11/12/2016 (1) 10/12/2016 (30) 09/12/2016 (41) 08/12/2016 (61) 07/12/2016 (51) Total: 117,720 content        Facebook Twitter Youtube

Economy

8 December 2016 16:52

  Iran on Wednesday awarded a basic agreement to global energy giant Royal Dutch Shell to study three mega oil and gas projects – an agreement that was hailed in Tehran for not only its technical and economic benefits for Iran but also the political message that it sent to the world and specifically the United States.  Under a Memorandum of Understanding...

8 December 2016 16:45

  Iran is gearing to switch its national currency back to the toman – a move that would end the rein of the rial after around 90 years and also could boost the value of the country’s national currency against the US dollar.  The administration of President Hassan Rouhani in a cabinet meeting on Wednesday approved the switch, as reported by the...

8 December 2016 11:06

  Iran on Wednesday awarded a basic agreement to global energy giant Royal Dutch Shell to study three mega oil and gas projects – an agreement that was hailed in Tehran for not only its technical and economic benefits for Iran but also the political message that it sent to the world and specifically the United States.  Under a Memorandum of Understanding...

5 December 2016 16:46

Brent crude oil prices rose above $55 a barrel on Monday, trading at a fresh 16-month high, on rising prospects of a tightening market after OPEC members agreed on a landmark deal to cut production last week. Monday's gains take the rally since the agreement was struck on Wednesday to 19 percent for Brent, the highest in almost eight years, and...

4 December 2016 16:02

  Iranian Health Minister Seyed Hassan Qazizadeh Hashemi underscored his country's huge progress in producing different drugs and medical equipment and its preparedness to export medicine to the Middle-East's lucrative market. "At present, almost 95% of the medicine needed for the Iranian patients as well as 50% of the raw materials are produced in the country and we import the rest; meantime,...

4 December 2016 7:33

The governor of the Central Bank of Iran says the US Senate vote to extend the Iran Sanctions Act shows that Washington is not trustworthy. On Saturday, Valiollah Seif stressed that the recent vote on the extension of sanctions against Iran was contrary to the spirit of cooperation based on last year’s historic nuclear deal, known as the Joint Comprehensive Plan...

3 December 2016 15:58

  Crude prices have soared after the Organization of the Petroleum Exporting Countries agreed to cut crude output. Oil futures scored a weekly gain of over 12% amid growing hopes that OPEC’s output deal will help shrink the glut of crude supplies and prop up prices. The recent price surge is seen as the largest weekly gain in nearly 8 years. On Friday, West...

3 December 2016 15:46

  Iran's Minister of Economic Affairs and Finance Ali Tayyebnia says the US-led sanctions over the country's nuclear energy program are “irreversible”. Speaking at a conference on insurance industry development in Tehran, Tayyebnia reiterated that “the wall of anti-Iran sanctions have already collapsed”, with major foreign companies entering the country’s lucrative markets. The Iranian minister also described the Joint Comprehensive Plan of Action...

3 December 2016 15:39

Reports coming out of South Korea suggest that Hyundai Heavy Industries Co., a major shipyard in the Asian country, is set to seal a deal to sell Iran 10 ships. The contract, valued at USD650 million, will see Hyundai supply the Islamic Republic of Iran Shipping Lines, (IRISL) with four 14,400 TEU container ships and six 50,000 DWT product tankers, the...

1 December 2016 16:21

  Iran’s media have hailed what is seen at home as the country’s “victory” in multiple-month negotiations with rivals and allies at the Organization of the Petroleum Exporting Countries (OPEC) over a proposed plan to reduce production and boost the prices. The negotiations culminated in a deal in Vienna on Wednesday for most producers to reduce their production by a collective of...

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