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IRNA

Deputy minister apologizes for industrial power outages

Deputy Minister of Industry, Mine, and Trade Hossein Farhidzadeh also said this year’s power outages had caused more than $108 million per day in damage to the Iranian industrial sector.

Mine and Industry

Iran’s oil output to rise by 40,000 bpd with new desalination plant in Ahvaz

Iran’s oil production capacity is set to rise by 40,000 barrels per day (bpd) following the launch of a desalination plant in the country’s southwest, Oil Minister Mohsen Paknejad has announced.

Energy

Iran resumes direct flights to Europe despite sanctions

Iran Airtour, a private airline, is launching direct flights from Tehran to Paris, despite Western sanctions targeting the country’s aviation industry.

Transportation

VTB to become first Russian bank to open branch in Iran

Russia’s second largest bank, VTB, has said it is scheduled to convert its Tehran office into a branch.

Financial Markets

Joining FATF can facilitate investments in Iran: Gov’t spokesperson

Iranian government spokesperson Fatemeh Mohajerani says joining the Financial Action Task Force (FATF) can facilitate making investments in the Islamic Republic.

Iran Economy

Iran sets official crude oil prices for January 2025

The National Iranian Oil Company (NIOC) announced on Sunday the official selling prices (OSPs) for its crude oil in January 2025. Iranian Light crude oil for the Asian market will be priced at $1.35 per barrel above the Oman/Dubai average, which serves as the regional benchmark.

Energy

Iran’s non-oil exports reach $43.14 billion in nine months

Iran’s non-oil exports reached $43.14 billion in the first nine months of the current Iranian calendar year, marking an 18% increase compared to the same period last year, according to the head of the Islamic Republic of Iran Customs Administration (IRICA).

Trade

Iran not to attend World Expo 2025: Government spokesperson

Iran has officially withdrawn from participating in the World Expo 2025, government spokesperson Fatemeh Mohajerani announced on Saturday.

Iran Economy

Iran eases internet restrictions, unblocks WhatsApp, Google Play

In a meeting of Iran’s Supreme Council of Cyberspace, members reached a consensus to lift access restrictions on widely used foreign platforms, including WhatsApp and Google Play.

Society Economy

Iran’s economy grows 2.9% in H1 fiscal year

Iran’s gross domestic product (GDP) expanded by 2.9% year-on-year in the first half of the current Iranian calendar year (March 20 – September 21), according to a new report from the country’s central bank.

Macro Economy

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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