Iran Chamber Newsroom

Iran’s crude steel output rises 5% YOY in October

Iran has increased production of various types of steel, including the crude steel, between late March and late November this year compared to the similar period in 2018 despite sanctions imposed by the United States that have specifically targeted Iran’s production and trade of metals.

Mine and Industry

Iran’s agri-food exports nearly $2.8bn in 7 months

Iran’s export of agri-food products in the seven-month period ending on October 22, 2019 reached a total of 2.794 billion, says a government official.

Agriculture and Environment

Iran load/unload of petchem cargoes surge

A new report shows that load and unload activity for petrochemical cargoes at the Iranian ports have surged by almost a third in one month despite sanctions imposed by the United States that seek to hamper the country’s trade of crude and related products.

Trade

Iran businesses raise $7b from capital market

Investors in the Iran’s capital market helped businesses raise 853 trillion rials ($7.1 billion) since the beginning of the current fiscal year (March 2019), says Ali Sahraee, the managing director of TSE.

Financial Markets

Total deposits with banks and credit institutions reached 22,165 trillion rials ($195 billion) during the fourth month (June 22- July 22) of the current fiscal year indicating 26.9% annual growth.

Iranian banks deposits at $195b: CBI

Financial Markets

ICCIMA to set up five trade offices across world

Iran Chamber

Iranian government has drawn over $1.25 billion from the country’s sovereign wealth fund for the sole purpose of creating jobs as the government struggles to diversify the economy to cope with sanctions imposed by the United States.

Iran draws over $1.25bn from NDF to create jobs

Society Economy

Iran has officially ended its decades-long monopoly over postal services as a first major private operator launches nationwide services.

Iran ends state monopoly over postal services

Society Economy

Iran’s Oil Minister Bijan Namdar Zangeneh says the country knows how to cope with sanctions that have restricted its direct sale of oil.

Iran knows how to cope with sanctions: Minister

Macro Economy

The World Economic Forum’s "Travel & Tourism Competitiveness Report 2019" attributes Iran’s top ranking to low ticket taxes and airport charges, cheap fuel and high purchasing power.

Iran most affordable tourist spot in world: WEF report

Mine and Industry

Several European companies and banks have expressed their readiness to join the European financial channel with Iran, INSTEX, in a bid to help operationalize the system, said new INSTEX president on Tuesday.

European companies, banks ready to join Europe’s channel with Iran: INSTEX president

Financial Markets

The ranking does not take into account the export of machine-made carpets, otherwise Iran would be the world’s fifth biggest exporter of textile floorings

Iran seventh biggest global exporter of textile flooring

Trade

German fruit and beverages company Dohler has invested up to 20m euros in the northwestern Iranian province to produce fruit concentrate to both meet the internal demand and export to neighbouring countries.

German company to be launched soon in Iran’s West Azarbaijan Province

Mine and Industry

The decision to create a separate banking messaging channel comes after the Society for Worldwide Interbank Financial Telecommunication, known as SWIFT, announced in November that it would sever ties with individual Iran-based banks for the sake of the "global stability of the system".

Iran, Russia ditch SWIFT, creating their own banking messaging channel

Financial Markets

Iran Chamber of Commerce, Industries, Mines and Agriculture

Established in 1884, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) is a non-profit and non-governmental institution which aims at facilitating economic growth and development in the country. Iran Chamber tries to further coordinate the activities of the private sector. As an economic forum, representatives from both the government and the private sector attend Iran Chamber's sessions. Meanwhile the institution acts as an advisory body to the government, parliament and judiciary.