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Press TV

US waives oil trade sanctions to give Iran limited access to frozen assets

The US State Department has reportedly informed Congress of its decision to waive sanctions on Iran’s oil trade so that Tehran can pay off its debts to Japanese and Korean exporters from its frozen funds, without being able to transfer the funds to the country.

Macro Economy

Japan Tobacco International, British American Tobacco control 70% of Iran’s market

Japan Tobacco International and British American Tobacco control over 61% of sales and some 70% of the value of the cigarette market in Iran.

Society Economy

Iran rolled out $3.25bn worth of water, power projects in one year

Iranian President Hassan Rouhani has hailed his administration’s records in launching new water and electricity projects in the fiscal year to late March despite economic woes posed by the pandemic and the US sanctions.

Agriculture and Environment

Iran plants 30 million trees for timber in one year

Iran’s minister of agriculture Kazem Khavazi says the country’s tree plantation for timber drive has seen a massive boost in the current calendar year with some 30 million plantations recorded across the country.

Agriculture and Environment

Iran bans online platforms trading cryprocurrency

Iran’s state-run regulator for online payment platforms has imposed an indefinite ban on websites that offer cryprocurrency trading services.

Modern Enterprise

Europe-Iran Business Forum off to good start despite politicking

Iran and the European Union have kicked off a major forum to promote trade and business ties despite efforts to downgrade the event.

Trade

Iran reports 6.2% surge in non-oil exports for month to Feb. 18

The Iranian customs office IRICA has announced that exports of non-oil goods from the country increased by 6.2 percent in the calendar month to February 18.

Trade

Iran’s annual petchem output to exceed 60 million tons

The Iranian Oil Ministry expects output of petrochemical products will surge by nine percent for the year ending March 20.

Energy

Iran’s daily gas production over 1 billion cubic meters: Zanganeh

Minister of Petroleum Bijan Zanganeh says Iran’s gas production has hit the record high above 1 billion cubic meters a day.

Energy

Central Bank of Iran to unveil contactless payment system

Central Bank of Iran (CBI) is working on a project to enable contactless payments in shops and stores as it seeks to reduce costs to users and banks in the country.

Modern Enterprise

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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