Press TV

Iran allows €1bn worth of car imports after four-year ban

The Iranian government has finally authorized a law allowing the imports of finished cars more than four years after the country imposed a ban on such imports to protect local car manufacturers and to cut back on hard currency spending.

Trade

Iran creates nearly 1 million jobs in a year

Iran’s labor ministry says nearly one million jobs have been created in the country in the year to late August despite economic problems facing the country because of foreign sanctions.

Macro Economy

Iran says to sign gas swap deal with Russia in near future

Oil Minister Javad Owji says Iran will "very soon" sign a major deal with Russia to import gas from the country for domestic consumption and deliver the same amount to customers at other parts of the Iranian borders.

Energy

Iran, Russia sign major deals on automative cooperation

Iranian automotive companies and their counterparts in Russia have signed some $700 million worth of deals to expand their cooperation at a time the two countries are shoring up their defenses against Western sanctions.

Mine and Industry

Iranian oilfield shared with Saudi Arabia to come on stream in three years

Iran says it will start pumping oil from a key oilfield that straddles the maritime border with Saudi Arabia in the Persian Gulf within the next three years.

Energy

Iran raises pensions for retired workers by over 38%

The Iranian government has approved a raise in monthly pensions paid to millions of retired workers in the country.

Society Economy

Iran, Pakistan close to inking free trade agreement

Iran and Pakistan are expected to sign a free trade agreement (FTA) within the next six months, says a senior Pakistani government official, amid efforts by the two neighbors to boost their bilateral trade.

Trade

Iran expected to join Russia’s Mir payment system within few months

An Iranian finance ministry (MEFA) official says the country is in very advanced stage of talks to join Russia’s Mir payment system.

Financial Markets

Iran says its fuel output has not dropped

An Iranian petroleum industry source has denied reports suggesting that fuel production in the country has declined because of the lack of proper management on renovation operations in refineries.

Energy

Iran raises prices for September crude deliveries

The National Iranian Oil Company (NIOC) has raised its crude oil prices for deliveries to Asian and European customers in September.

Energy