Press TV

Iran to expand overseas farming to 2 million hectares by 2029

Iran has set a target to expand its overseas farming to 2 million hectares (4.942 million acres) by 2029 amid efforts to ensure sufficient food supplies in the country.

Agriculture and Environment

Iran’s non-oil exports grow 18% in eight months

Iran’s customs office (IRICA) says non-oil exports from the country rose by 18% year on year in the eight months to November 20.

Trade

Iran’s aluminum output falls 4% YOY to 352k tons in seven months

Iran has reported a slight fall in aluminum output from seven months to late October.

Mine and Industry

European sanctions impeding Iran’s medicine imports

The deputy head of Iran’s Food and Drug Administration (IFDA) says the European Union’s sanctions have directly affected the country’s pharmaceutical imports, pointing out that the country is seeking alternative paths to meet its needs.

Society Economy

Iran’s central bank to launch new currency exchange market

The Central Bank of Iran (CBI) is planning to launch a new currency exchange market in a bid to control the prices and to make it easier for importers to access hard currency generated from exports.

Financial Markets

Iran to increase IMF assets, aiming to strengthen influence

The Iranian parliament has allowed the government to increase its Special Drawing Rights (SDRs) in the International Monetary Fund (IMF).

Financial Markets

Cargo transit via Iran up 42% in seven months

International cargo transit via the Iranian territory rose significantly in the seven months to late October, according to figures by the country’s customs administration (IRICA).

Transportation

IMF revises up its 2024 economic growth forecast for Iran

The International Monetary Fund (IMF) has raised its economic growth forecast for Iran in 2024 amid signs the country is becoming increasingly immune to the economic impacts of US sanctions.

Macro Economy

Iran’s six-month steel output down 10% due to lower electricity supply

Lower electricity supplies to Iranian steel producers caused a major decline in the output in the first half of the calendar year that started in late March, according to figures by the Iranian Steel Producers Association (ISPA).

Mine and Industry

Iran eyes $20 billion annual trade with Indonesia

Iran expects its annual trade with Indonesia to increase significantly with the implementation of a Preferential Trade Agreement (PTA) that was finalized last week with an official announcement of the Iranian Presidency.

Trade