Iranian President Masoud Pezeshkian traveled to Kerman Province on Saturday to inaugurate four major economic and industrial projects worth more than 200 trillion rials.
ECONOMY Feed Atom
Shortly after tariffs on China imposed by U.S. President Donald Trump took effect on Tuesday, China's Finance Ministry said it would impose levies of 15% on imports of U.S. coal and LNG and 10% for crude oil as well as on farm equipment and some autos.
Now it has become more and more difficult to address problems resulting from inexpert and populist policies in energy consumption. Unfortunately, energy consumption is under the influence of politics rather than economics.
The parliamentary deputy to the president stated that hidden energy subsidies in the country amount to a significant sum and are one of the reasons behind the smuggling of energy resources.
Iran's Minister of Energy and Iraq's Minister of Electricity and Energy met to discuss electricity exchange and the export of technical and engineering services in the power sector.
The Iranian oil minister announced that creating a secure and transparent environment for investors is a priority of the Oil Ministry.
Iran’s Foreign Investment Board has approved over $700 million in foreign investment during its latest session, marking a significant development under the 14th government.
Iranian exports to the Developing-8 group increased by over 24% in the first eight months of the current Iranian calendar year, according to IRICA.
The petrochemical industry is vital to Iran's economic and industrial development, and the second phase of the Petrochemical Special Economic Zone will focus on balanced growth and completing the value chain.
Iran and China have signed a memorandum of understanding (MOU) for development cooperation on the sidelines of the Indian Ocean Rim Development Cooperation Forum, IRNA reported.
EAEU Minister of Trade Andrey Slepnev emphasized Iran's significance in the free trade agreement, citing its strategic position on the EAEU's southern borders and involvement in the INST.
The market anticipates Trump's tariffs, particularly a 25% tariff on Canadian imports, which could impact domestic and foreign industries, particularly the American Midwest.
Iran and Serbia reaffirmed their commitment to strengthening economic cooperation during a meeting between Serbia’s ambassador and Iran’s minister of finance and economic affairs.
India is expected to be the key destination for global oil and gas products as the country adds refinery, petrochem, LNG regasification and pipeline capacity while the Chinese economy slows, according to an HSBC report released on Tuesday.
Union Commerce and Industry Minister Piyush Goyal on Sunday proposed to launch a startup bridge between Norway and India, as the two countries discuss various ways to boost trade ties.
The ambassador of the Islamic Republic of Iran to Mauritania consulted and exchanged views with the Minister of Energy and Oil of that country regarding the strengthening of bilateral cooperation.
Japan has vowed to carry out efforts to help Iran advance its case in the Financial Action Task Force (FATF), according to an Iranian deputy finance minister.
Iran's economy experienced a 4% growth in the first half of 2024, with a 2.6% growth excluding the oil sector, according to the Iranian Statistical Center.
Iran prioritizes expanding cooperation with regional powers and international organizations such as the Shanghai Cooperation Organization (SCO) and BRICS, according to Kazem Jalali, Iran’s Ambassador to Russia.
Islamic Republic of Iran Customs Administration (IRICA) says the country's non-oil exports rose by 18% year on year in eight months of the current Iranian calendar year (started March 21, 2024).