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Press TV

Iran submits bill to dismantle heavily subsidized exchange rate

The administrative government in Iran has introduced a bill in parliament to remove a heavily subsidized exchange rate which is used to fund imports of staples and medicine into the country.

Macro Economy

Despite sanctions, Iran is world’s third largest gas producer

Iran produced 267 billion cubic meters of natural gas in 2019, making the country the world’s third-largest producer after the US and Russia despite the most draconian sanctions imposed on the country.

Energy

Iran crude oil output up 0.8% in September: OPEC sources

Latest figures by the Organization of Petroleum Exporting Countries (OPEC) show that Iran’s crude output rose slightly in September to reach 2.503 million barrels per day (bpd).

Energy

Iran’s wheat imports at record levels amid fall in domestic crop

The Government Trading Corporation (GTC) of Iran says wheat imports into the country would reach record levels in the calendar year to March amid a sharp fall in domestic crop which has been caused by drought as well as by price issues.

Trade

Iran starts free trade talks with EAEU in Armenia

Iran and the Eurasian Economic Union (EAEU) have started three-day talks in the Armenian capital to discuss a potential free trade deal between the two sides, the official IRNA news agency has reported.

Trade

Europe regulator ends restrictions imposed on flights over Iran

European Union Aviation Safety Agency (EASA) has dismantled a nearly two-year advisory notice that had warned against flying over Iran over safety reasons.

Transportation

Iran to maximize winter gas output to prevent shortages

Iran gas output will maximize to 940 million cubic meters (mcm) per day over the winter months to ensure households and power plants will face no shortages.

Society Economy

Iran’s shoe industry thriving with ban on imports

Iran’s shoe industry has grown rapidly in the past three years as manufacturers eye to capture a major share of the export markets in neighboring countries.

Mine and Industry

Iran’s H1 exports to Oman up 67% to $277 million

Iran saw its exports to the neighboring Oman increase by more than two thirds to a total of $277 million in the six months to September 22, according to a businessman coordinating trade between the two countries.

Trade

Iran chief banker urges swift IMF action on loan request

The newly-appointed Central Bank of Iran (CBI) Governor Ali Salehabadi has called on the IMF to speed up processing Iran’s request for loans that the country needs to tackle the economic impacts of the coronavirus pandemic.

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.

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