Wednesday , 25 May 2022

Economy

China says will support Iran’s full membership in Shanghai Cooperation Organization

PayvandNews – A senior Chinese diplomat has thrown his country’s weight behind Iran’s membership of the Shanghai Cooperation Organization (SCO), an emerging economic and security alliance jointly led by China and Russia. “China welcomes and supports Iran’s wish to become a formal member of the SCO,” Assistant Chinese Foreign Minister Li Huilai told reporters on Monday, ahead of the group’s summit …

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Iran’s housing crisis aggravated by reluctant sellers

Al-monitor – Iran’s enduring housing recession has cost many Iranians their dream of homeownership while depleting their purchasing power due to higher rent. The housing sector is unlikely to return anytime soon to the days when it was Iran’s best investment option. AUTHOR Ali Dadpay The “Iranian dream” is the same around the world. Iranian families work hard to own …

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Iran discovers new gas field in Persian Gulf

PayvandNews – Iran says it has discovered a new gas field close to the giant South Pars natural gas field which it jointly shares with Qatar. Local media have quoted an unnamed official at the National Iranian Oil Company (NIOC) as saying that the field – named Sepand – holds 1.5 trillion cubic feet of sweet gas of which about …

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What’s on Rouhani’s second-term economic agenda?

Al-monitor – Hassan Rouhani’s re-election on May 19 is welcome wind in the sail of the moderate political forces in Iran. The sharp rise in the index of the Tehran Stock Exchange can also be seen as an indication that economic players view the election results as a positive development. AUTHOR Bijan Khajehpour During the election campaign, the Rouhani camp …

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Iran-EU trade up 165% in first quarter of 2017

PayvandNews – The European Union’s trade with Iran amounted to 5.3 billion Euros in the first quarter of 2017, a 165 percent rise from 2 billion Euros in the first quarter of 2016, based on the latest figures released by the European Union’s statistics agency Eurostat. The EU’s exports to Iran stood at 2.53 billion Euros during January-March this year, …

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Will Rouhani be able to weather jobs crisis?

A-monitor – Reza holds a degree in management but has since his graduation in 2011 failed to find a steady job. The 31-year-old, who lives in Tehran, has been driving the family’s car as an unlicensed cab to make ends meet. Recently, he came up with the idea of borrowing some money to buy an official taxi vehicle, but at the …

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Iran’s non-oil growth to boost in 2017: IMF

PayvandNews – According to the latest report published by the International Monetary Fund (IMF), Regional Economic Outlook, Iran is expected to see non-oil growth accelerate from 0.75 percent in 2016 to almost 3.5 percent in 2017. The report, which reflects the outlook for Middle East, North Africa, Afghanistan and Pakistan (MENAP) in 2017, shows that across MENAP oil exporters, the …

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Europeans see huge potential in Iran’s energy market

PayvandNews – European exhibitors participating in the 22nd International Oil, Gas, Refining and Petrochemical Exhibition of Iran (Iran Oil Show 2017) believe that there is huge potential for business in Iran’s oil, gas and petrochemical sectors. The exhibition, which was held at the Tehran Permanent International Fairgrounds from May 6 to 9, hosted some 2500 domestic companies and 1500 foreign …

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Pall Corporation first US tech firm to invest in Iran in years

PayvandNews – An Iranian company says a top American technology leader plans to invest in an Iranian oil equipment production project – what could be the first direct investment by a US oil company in Iran after the 1979 Islamic Revolution.  Speaking at a press conference at Iran’s Oil Show, Neda Mousavizadegan, the managing director of Iran’s Panid Engineering, named …

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Iran starts exports from South Pars oil layer

PayvandNews – Iran exported the first cargo of crude oil to the tune of 700,000 barrels from the South Pars oil layer last week. Hamid Bovard, the managing director of Iranian Offshore Oil Company (IOOC), made the remarks in a press conference on the sidelines of Iran Oil Show 2017 in Tehran. A platform in Iran’s South Pars field in …

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