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IRNA

Iran assumes rotating presidency of OPEC for 2025

Iran’s Oil Minister Mohsen Paknejad was appointed as Rotating President of the Organization of the Petroleum Exporting Countries (OPEC) Conference for 2025 by alphabetical order during a ministerial meeting on Tuesday which was held via videoconference and chaired by Marcel Abeke, the Gabonese petroleum minister and OPEC conference president for 2024.

Energy

Iran’s diesel fuel production hits record high of 124mn liters per day

Iran’s average production of diesel fuel has surged by 13 million liters, reaching a new record of 124 million liters per day.

Energy

Iran plans to organize cryptocurrencies not limiting them: Minister

Iran’s Minister of Economic Affairs and Finance Abdolnaser Hemmati has said that the government intends to organize digital currencies and cryptocurrencies instead of putting limitations on them.

Financial Markets

Iran’s economy grows by 4% in H1 fiscal year

Iran’s Gross Domestic Product (GDP) grew by 4% in the first six months of Iran’s current calendar year (March 20 – September 21), with non-oil GDP rising by 2.6% compared to the same period last year, according to a report by the Statistical Center of Iran (SCI).

Macro Economy

Iran stresses rail cooperation among SCO member states

The CEO of the Islamic Republic of Iran Railways, Jabbar-Ali Zakeri, has emphasized the importance of enhanced rail, transit, and logistical cooperation among the member states of the Shanghai Cooperation Organization (SCO).

Transportation

Iran’s steel output hits 25 million tons in 10 months

Iran’s crude steel production reached over 25 million tons in the first 10 months of 2024, marking a 0.6% increase compared to the same period last year, according to the latest report by the World Steel Association (WSA).

Mine and Industry

Iran approves over $5 billion in foreign investment in key sectors

Iran’s Foreign Investment Board approved more than $5 billion in foreign investments during its 286th meeting and the fourth session under the new administration, according to a statement from the Ministry of Economy on Wednesday.

Iran Economy

Iran reports $3 billion in horticultural exports to over 100 countries

Iran’s Deputy Minister of Agriculture, Mohammad Mehdi Boroumandi, announced that horticultural products account for nearly half of the country’s agricultural export revenue, generating approximately $3 billion annually from exports to over 100 countries.

Agriculture and Environment

Iranian embassies urged to facilitate exports

Iran’s Foreign Minister Abbas Araghchi has said the ministry urged all Iranian embassies to facilitate exports of Iranian products.

Trade

Iran, Qatar pursue plans for world’s longest undersea tunnel

Iran’s First Vice President Mohammad Reza Aref has announced Tehran and Doha’s mutual pursuit of constructing the world’s longest undersea tunnel to connect Iran and Qatar, marking a significant leap in bilateral infrastructure collaboration.

Iran 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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