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Press TV

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 draws over $1.25bn from NDF to create jobs

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.

Society Economy

Iran ends state monopoly over postal services

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

Society Economy

Iran knows how to cope with sanctions: Minister

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

Macro Economy

Iran spent over $720m on mechanized agriculture: Official

An official from Iran’s ministry of agriculture says the country has spent over $720 million on machinery and technology over the past six years to modernize farming.

Agriculture and Environment

UK, Germany say Europe working to operationalize INSTEX

Britain, France and Germany are seriously pursuing the implementation of the Iran-EU special payment mechanism, which is supposed to facilitate trade ties between the two sides after the US withdrew from the Iran nuclear deal and reimposed sanctions on the country, senior European officials say.

Trade

‘Iran-EU trade mechanism to be set up in coming days’

French Foreign Minister Jean-Yves Le Drian says a European-backed trade mechanism, known as the Special Purpose Vehicle (SPV), aimed at facilitating non-dollar business with Iran in the face of US sanctions should be established in the coming days.

Financial Markets

Iran denies report of Germany’s ban on Mahan Air

The Civil Aviation Organization of the Islamic Republic of Iran (CAO.IRI) has dismissed some media reports that Germany is planning to ban flights in and out of the country by Iran’s Mahan Air in January.

Transportation

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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