Economy Archives | صفحه 116 از 142
Iran, ‘leading steel producer, exporter’ in ME region
TEHRAN, May 08 (MNA) – Islamic Republic of Iran is a leading country in the field of producing and exporting steel in the Middle East region. With more than half a century experience, Iran’s steel industry is leader in the Middle East region among rivals in terms of steel production and exports. It is expected […]
Butane production capacity up 100% in SP phases 17, 18
TEHRAN, May 6 (MNA) – The Director of Refinery No. 7 of South Pars Gas Complex said on Tue. that phases 17 and 18 of the Complex have increased butane production capacity up by 100 percent. Hassan Asa’adi told IRNA that the most distinguished and salient achievement of the refinery in last year [ended March […]
Iran chops off zeroes from currency, changes ‘rial’ to ‘toman’
TEHRAN, May 4 (MNA) – Iranian lawmakers approved on Monday a monetary bill to shave four zeroes off the national currency. As per the bill ‘Reforming Monetary and Banking Law’, the monetary unit will change officially from the rial to the commonly used toman. Furthermore, the minor monetary unit of the new currency will be […]
Iran Plans to Revive Cotton Seed Plants to Boost Production: Deputy Minister
TEHRAN (Tasnim) – Iran’s deputy agriculture minister said the country plans to help a number of cotton seed plants come on stream in order to enhance production. In order to help boost domestic production in the country the cotton plan, the transfer of all four factories in the country to the Union of Agricultural Cooperatives […]
Loading capacity of gas condensate set to rise in South Pars
TEHRAN, Apr. 25 (MNA) – According to an official with the South Pars development project, the installation of new tankers will increase gas condensate loading capacity of the field. The deputy head of the South Pars Phase 19 development project announced the arrival of a tanker ship equipped with single point mooring (SPM) in Assaluyeh, […]
OPEC unable to handle current situation solely: Zanganeh
TEHRAN, Apr. 22 (MNA) – Iran’s Oil Minister Bijan Namdar Zanganeh said the Organization of the Petroleum Exporting Countries cannot solely handle the current market issues, urging other producers’ commitment in this regard. “The coronavirus outbreak has caused fuel demand to drop drastically, which has also led to the slump of prices this year,” Zanganeh […]
Oil Drops to 21-Year Low with Storage Filling as Demand Shrivels
TEHRAN (Tasnim) – Oil plunged below $15 a barrel in New York, a fresh 21-year low, as inventories soar because of the supply-demand mismatch that’s been created by the coronavirus. The most immediate West Texas Intermediate contract fell as much as 22% to $14.19 a barrel. While a major part of the slump is because […]
President Rouhani calls for plans to minimize crude sales
TEHRAN, Apr. 18 (MNA) – President Hassan Rouhani in a phone call with Oil Minister Bijan Zanganeh called for advancing the plans and policies for boosting petroleum products in a bid to decrease the crude oil sales. Rouhani pointed to the government’s progress in economic programs during the past year without relying on oil revenues, […]
EAEU announces list of products subjected to zero tariff for imports
TEHRAN, Apr. 16 (MNA) – Iran’s Deputy Minister of Industry, Mine and Trade Hamid Zadboum on Thu. revealed the announcement of list of products, subjected to zero tariff, for exporting to the Eurasian Economic Union (EAEU). Agricultural, food, and pharmaceutical products have been put in the list of products subjected to the zero tariffs for […]
FAO Says Helping Iran Battle Desert Locust Infestation
TEHRAN (Tasnim) – As desert locust infestations in East Africa and South-West Asia have intensified in recent months, the Food and Agriculture Organization of the United Nations (FAO) has provided an additional $200,000 to further strengthen Iran’s technical capacity to control Desert Locust. Signed by FAO and Iran’s Plant Protection Organization (PPO) on March 19, […]