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Economy

20 February 2017 15:16

  Iran’s Minister of Petroleum Bijan Zangeneh has traveled to Baghdad at the head of a delegation to review energy agreements between the two neighbors.  Zangeneh and his Iraqi counterpart Jabar al-Luaibi are expected to finalize two agreements signed between the two countries during a visit by Iran’s Deputy Petroleum Minister Amir Hossein Zamaninia to Baghdad in January. One of the agreements calls for cooperation...

20 February 2017 14:55

  A senior Iranian energy official has rejected reports that France’s Total had pulled out of an initial deal to develop part of Iran’s giant South Pars gas field.  Total sealed the $4.8 billion deal in November to develop Phase 11 of South Pars but there are reports that it is having second thoughts amid President Donald Trump’s harsh anti-Iran rhetoric. Deputy Minister of...

19 February 2017 9:08

China has stepped up its own pressure on North Korea over its missile and nuclear programs, suspending imports of North Korean coal, a major source of revenue for the government in Pyongyang. China’s Ministry of Commerce said in a notice posted on its website on Saturday that, starting February 19, all coal imports from North Korea would be suspended for the...

17 February 2017 13:09

  Omani Minister of Oil and Gas Mohammed bin Hamad al-Rumhi says that Iran’s gas pipeline to Oman will not cross the United Arab Emirates (UAE). In an interview with the Kuwaiti daily newspaper of Al Rai, al-Rumhi said Muscat and Tehran have reached an agreement on the issue. The direct pipeline would export the vast gas reserves from Iran to Oman, the...

17 February 2017 13:07

  Iran says it has reached a final deal with a foreign leasing enterprise to finance the country’s purchases of 77 new planes from global aviation giants Boeing and Airbus.  The announcement - that could facilitate plane purchase deals that Iran signed with both companies last year - was made by Iran’s Ministry of Roads and Urban Development as reported by the...

17 February 2017 10:39

  The European Steel Association – Eurofer – has reported a significant rise in Iran’s exports of steel to Europe, saying the country is now the third biggest exporter to the continent after China and India. Reuters in a report quoted a statement by Eurofer as saying that Iran’s exports to Europe in 2016 had increased to above 1 million tons. It added...

16 February 2017 13:24

  Figures show that Saudi Arabia has lost a significant share of South Korea’s oil market to Iran.    The latest market figures show that South Korea’s imports of crude oil from Iran doubled in January. Preliminary customs data show that Iran exported around 1.79 million tons of crude oil to Asia’s fourth largest oil buyer in January. The figure – which is equal...

16 February 2017 13:04

  Iran’s top banker says the country plans to establish a bank in Azerbaijan with 100 percent Iranian ownership. Azerbaijan’s Trend news agency in a report quoted Valiollah Seif, the governor of the Central Bank of Iran (CBI), as saying that the plan involved turning a branch of Bank Melli Iran in Azerbaijan into an independent Azerbaijani bank. Seif added that all the...

14 February 2017 17:20

  A recent survey shows that German investor confidence fell sharply in February, what analysts say reflects fears for Europe's largest economy at a time of global political uncertainty. The survey that was conducted by the Centre for European Economic Research (ZEW) showed that the index for investors' future expectations fell by 6.2 points to 10.4 points last month. Analysts surveyed by Factset...

12 February 2017 18:46

  It is due that the first Iranian made automatic gearbox car to be unveiled in the fair. Iran’s commercial attaché in Iraq Ibrahim Mohammad-Rezazadeh told IRNA that the fair started its 4-day work from Sunday by participation of 145 Iranian companies in different sectors and it will be officially inaugurate on Monday in presence of Ministers of Industry and Mine of...

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