Minister says Russian loan extended for construction of Hormuzgan Sirik Power Plant

EconomyTehran, Sept 15, IRNAa term for granting a loan by Russian government loan to construction of 1400 MW power plant in Sirik region of Hormuzgan.

Iran, Afghanistan to speed up cooperation on electricity

EconomyIranian Energy Minister Reza Ardakanian said on Saturday that Iran and Afghanistan will set up working group to speed up cooperation on energy and carry out the agreements they signed on generation and transmission of electricity.

Iran demands Russia speed up executive works for Sirik power plant

Economy Iranian Energy Minister Reza Ardakanian said that he would raise the issue of Sirik power plant during his stay in Moscow with the Russian partners to speed up executive works to build 1400-MW power plant in Sirik, southern Iran.

CBI chief says Iran’s economy steady again

EconomyGovernor of Central Bank of Iran Abdolnaser Hemmati on Saturday gave an upbeat report about recovery of Iran’s economy, saying that national economy currently enjoys stability.

US imposes fresh sanctions on Adrian Darya oil tanker

EconomyUS Department of Treasury imposed fresh sanctions on Adrian Darya, the tanker carrying Iran oil released by Gibraltar.

Iran looking for a bigger market share with its partners

EconomyIran is looking for a bigger export market share with its trade partners, Minister of Industry, Mine and Trade Reza Rahmani said on Saturday.

Iran plans to cut direct reliance on oil resources to zero

EconomyAs Iran has lost a significant part of budget resources in tough sanctions times, it is necessary for the country to reform the budget structure so as to slash direct reliance on oil resources to zero, said the head of the Planning and Budget Organization on Sunday.

Official says Chabahar Port, hub of int'l trade

EconomyPort of Chabahar is a shortcut hub for international trade of Iran, Pakistan, Afghanistan and the route for outside world of the Central Asian states, a local Iranian official said on Saturday.

VP: Reduction of JCPOA commitments helps to preserve nuclear deal

EconomyIran's 1st Vice President Eshaq Jahangiri said Iran on Monday that reduction of nuclear related commitments will be in line with preserving the deal known as the Joint Comprehensive Plan of Action (JCPOA).

Zarif meets US media, Congressmen at their request: Spox

EconomyForeign Ministry spokesman Abbas Mousavi said on Monday that Foreign Minister Mohammad-Javad Zarif, meets the US Congressmen and media men at their own request to express Iran's stances for the US people and officials.

IKCO to put domestic engine on Peugeot 301 cars

EconomyIranian auto giant, Iran Khodro Company (IKCO), will put domestic engine EC5, an improved version of TU5 on Peugeot 301 cars, IKCO director Beigloo said on Sunday.

Iran Embassy in all-out support for trade with Belarus: Ambassador

EconomyIran's Ambassador to Belarus Mostafa Oveisi said on Thursday that Iranian Embassy is well-prepared to support the two sides' businesspersons for expanding trade ties.

Iran has special plan for countering biotechnological sanctions: VP

EconomyIran has special plan for neutralizing sanctions particularly those which are of a biological character, said Vice-President for Scientific and Technological Affairs Sorena Sattari on Sunday.

Zarif: Iran not to renegotiate with US

EconomyIranian Foreign Minister Mohammad Javad Zarif told BBC that the US has left the negotiation table and Iran will not renegotiate with the US.

Zarif: Nice statements do not provide economic benefit for Iran

EconomyIranian Foreign Minister says nice statements by Europeans do not provide economic benefit for Iranians.

FM Spox: Iran helps foreign tanker in Persian Gulf

Economy Iranian Foreign Ministry spokesman said that Iran offered help to a foreign tanker with technical failure in territorial waters, adding that the routine practice of helping vessels in the Persian Gulf is going on.

Iran's manufacturing sector making headway to thwart sanctions: Minister

EconomyIran's Minister of Industry, Mines and Trade Reza Rahmani said on Monday that Iran's manufacturing sector is making headway to thwart the US unilateral sanctions and achieve advanced technology.

Iranian industry min:

Sanctions meant to paralyze production but it grew 1% in Q1

Economy Despite all pressures from US sanctions which aimed to hamper Iran's economy, domestic production has increased by 1% in the first three months of the year, Iranian Industry Minister Reza Rahmani said on Sunday.

Energy min:$2.4bn of investments made in power industry in 6 years

EconomyIranian Energy Minister Reza Ardakanian announced on Sunday that during the past six years, some 230 trillion rials (about $2.4 billion) of investments have been made on power and electricity industry.

Govt. to prepare budget bill biannually: Nobakht

EconomyHead of the Plan and Budget Organization Mohammad-Bagher Nobakht said on Sunday that the government is to prepare budget bill biannually to provide a clearer image of and higher confidence about the future.

Exports from Iran's Arvand Free Zone stand at $220 million

EconomySince the beginning of the current Iranian year (started March 21, 2019) 220-million-dollar worth of goods has been exported from Arvand Free Zone, said the deputy head of Arvand Free Zone Organization (AFZO) for Business Development and Investment Affairs Seyyed Ali Mousavi.

Iran, Pakistan sign MoU to promote bilateral trade

EconomyIslamic Republic of Iran and Pakistan on Friday signed a memorandum of understanding (MoU) to promote bilateral trade and investment between the two countries.

Special cell to facilitate Iran-Pakistan trade on cards: Minister

EconomyIranian Minister for Industry, Mines and Trade on Friday said that during a meeting with Prime Minister Imran Khan he had proposed a special cell to facilitate Iran-Pakistan trade ties.

China not operating in area of ​​ crypto-currency extraction in Iran: Minister

Economy Iran's Minister of Communications and Information Technology said that the Chinese government has no plans to enter the crypto-currency extraction in Iran, but in any case the private sector and the Chinese people may have been active in this area.

OPEC’s decisions no longer liable to outside pressure: Zangeneh

Economy Iranian Oil Minister Zangeneh said “important changes” have been made to OPEC in a way that decisions made outside OPEC can no longer be imposed on the body for ratification.

Energy min.:Iran to swap gas for goods with Armenia

Economy“Iran’s exports of gas to Armenia can be increased and multilateral negotiations are underway to start swapping gas for goods with the country,” Iranian Energy Minister Reza Akrdakanian announced.

Int'l airliners back to Iran's airspace

EconomyInternational airliners have returned back to Iran's airspace after a lull over downing the US Unmanned Aerial Vehicle UAV over Iranian territorial waters, an Iranian official said Wednesday.

European efforts to operate INSTEX accelerated: CBI Chief

EconomyHead of Central Bank of Iran Abdolnaser Hemmati, referring to the acceleration of European efforts to operate the Instrument in Support of Trade Exchanges (INSTEX), said that the INSTEX has of course only a limited contribution to the Central Bank's strategy in the foreign exchange market, and there are many other programs in the area of ​​foreign exchange relations.

Minister: Iran exports 54% of non-oil goods to neighboring states

EconomyIran's Minister of Industry, Mines and Trade, Reza Rahmani said 54 percent of Iran's non-oil goods are exported to the neighboring countries.

Iran to sell two million barrels of crude on Stock Exchange

EconomyNational Iranian Oil Company announced on Sunday that it is going to offer two million barrels of crude oil in the international ring of the Iran Energy Exchange (IRENEX) on Tuesday.