Economy
Iran and India reached a new agreement to barter Iranian crude oil for Indian-made products, including weaving goods technology and equipment….
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In addition to the surge in price of various medications, there has been a shortage of medication and a flourishing market for counterfeit drugs that have increased public concern. Although the responsible parties are claiming that numerous efforts have been made to supply the drugs on…
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Head of the Students’ Welfare Fund in the Ministry of Science, Keyvan Moradian, announced that in contrast with Majlis and government promises, 100 billion tomans of the 136 billion tomans allotted for student loans were eliminated. As a result, only 170,000 of the 300,000 loan and…
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Managing Director of the National Iranian Petrochemical Company, Abdol Hossein Bayat, announced that the company is making an effort to obtain dispensation for foreign investors through the National Development Fund. According to Bayat, the plan is to obtain dispensations for foreign investors in banks outside of…
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Iran Customs statistics reveal a sharp 3% drop in the import of black textiles for chadors this past year compared to last year, totaling USD 94,807,000. These textiles are largely imported from the UAE, South Korea, China and India. Approximately 95% of the market needs for…
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Majlis member Younes Asdi claims that Iran’s current economy does not allow implementation of the second phase of the Subsidy Reform Law in any manner. Asdi, a member of the Majlis Agriculture, Water and Natural Resources Committee, claims that a significant percentage of citizens planned their…
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Mohammed Reza Naqdi called on presidential candidates to work towards implementation of economic jihad projects and a resistance economy in order to benefit citizens. Naqdi stressed that Basij activities in a year declared as a good economic year differ from the special plans of the economic…
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Iranian customs data reveals a sharp 68% drop in the volume of car imports to Iran in March/April as compared with the same period last year. According to these statistics, in March/April of this year, 518 cars valued at only USD 12 million were imported into…
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The Managing Director of the Republic of Iran Shipping Lines, Mohammad Hossein Dajmar, has reported a drop in the organization’s revenues, from USD 2 billion to below USD 1 billion. He said that in addition to the sanctions, the global economic crisis has greatly affected global…
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According to customs data for South Korea, the country has reduced the volume of oil imports from Iran by 50%. According to the report, oil imports from Iran this April stood at approximately 507,000 tons, whereas last April the oil imports were over one million tons….
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Market sources have reported the possibility of a 70% increase in food prices, which may lead to the disappearance of some products from Iranian families’ shopping carts….
Read More →Quds newspaper is reporting the steady increase in the dollar rate and its negative impact on the prices of medications and medicine in Iran. The report further states that although sanctions do affect the drug supply to a certain degree, the policy-makers and hospitals in Iran…
Read More →The Majlis has voted to allow the Ministry of Oil to conduct exchanges of crude oil and liquid gas in consideration of Ministry debts to Iranian and foreign companies – up to a ceiling of $7 billion. …
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Rostam Ghassemi, Oil Minister, said that “Currently prices on the oil market have not been as expected, and we do not assess price trends to be favorable.” He added that $100 per barrel is a reasonable price of oil for Iran and should be regarded as minimum…
Read More →The foreign currency market is waiting with bated breath for the registration of candidates for the elections. One money changer website published that they could not report the price of the dollar until the candidacy or non-candidacy of Hashemi Rafsanjani was known. Experts believe that the…
Read More →Over the past 23 years since Qatar began producing oil in the joint South Pars oil field, its volume of oil production has passed one billion barrels, while Iran continues to dream about producing and delivering oil from this joint field. About ten years ago, a…
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Five years after an oil exploration contract was signed between National Iranian Oil Company and Croatian company INA, the latter was dismissed from continued exploration activities in the Maghan field. In the contract, which was valued at over USD 141 million, the Croatian company undertook to…
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In a closed session of the Majlis on Tuesday morning, Majlis members along with the government’s Economic Committee examined the reasons for the increase in the price of basic commodities in recent months. The Governor of the Central Bank of Iran, Minister of Agriculture and Minister…
Read More →Concurrently with the launch of ventures to increase Iran’s gas production in the Persian Gulf, the heads of the Ministry of Oil report on negotiations with UAE and Oman on the export of natural gas exports to those countries. According to the sources, the negotiations with…
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