Economy

PayvandNews – Iran exported over 16.4 million tons of petrochemical products worth $8.581 billion during the first nine months of the current Iranian calendar year (March 21-December 21, 2017), Shana reported on Wednesday citing the data announced by the National Petrochemical Company (NPC). Petrochemical production in Iran stood at over 39.9 million tons during the mentioned time span, IRNA reported …

PayvandNews – Through manufacturing of over 160,000 vehicles in Iran, Renault hit a record high in 2017, according to a report by the Communications Department of Renault Pars (a joint venture established in 2004 between France’s Renault and Iranian car makers Iran Khodro and Saipa). The report said that production of Renault in Iran witnessed a 48-percent growth in 2017 …

PayvandNews – Iran and Italy have signed a major framework credit agreement worth 5 billion Euros which Tehran says is the biggest ever such agreement signed with a European country. The credit agreement will be used to provide funds for development and industrial projects in the Islamic Republic.

VOA – The Iranian town of Doroud should be a prosperous place — nestled in a valley at the junction of two rivers in the Zagros Mountains, it’s in an area rich in metals to be mined and stone to be quarried. Last year, a military factory on the outskirts of town unveiled production of an advanced model of tanks.

Al- Monitor – Post-sanctions integration in the international financial sector has been one of the main challenges in the Iranian economy since the implementation of the Joint Comprehensive Plan of Action in January 2016. As such, one could anticipate that Iranian officials would welcome the emergence of cryptocurrencies as a platform for international payments. Notwithstanding, the Central Bank of Iran (CBI) has not yet …

PayvandNews – Iran says four of its banks have signed an agreement with the Export Insurance Agency of Russia (EXIAR) to provide “unlimited funds” for development projects to be carried out by domestic and international contractors in the Islamic Republic. The Central Bank of Iran (CBI) in a statement said the agreement had been signed between the EXIAR and Bank …

Xinhua – Iranian Deputy Oil Minister Marzieh Shahdaei said foreign companies interested in developing Iran’s oilfields should find an Iranian partner, local media reported Tuesday. “We are in talks with reputable international firms (for developing oilfields), and the most important issue is that we are trying to have them pick up an Iranian partner and build many of their equipment …

AP – The International Monterrey Fund is predicting a steady growth in Iran’s economy but cautions it still faces a number of challenges, including the need to reduce government debt and red tape. The IMF says growth is expected to top 4 percent in the coming fiscal year while other Mideast oil exporters are facing close to zero percent growth. …

PayvandNews – Speculations are rising that China’s leading oil and gas company CNPC could replace French energy giant Total in a key Iranian natural gas project if any new US sanctions against investments in Iran’s economic projects forces it to leave the country. Reuters in an exclusive report said CNPC had already started talks with Iran over a share of 30 percent …

PayvandNews – Tehran Stock Exchange’s main index, TEDPIX, broke an all-time high record in Wednesday trading by surging into the 93,000 lane.  TEDPIX gained 654 points to stand at 93,283, a level never seen in the Exchange’s history since establishment in 1966. Source: Tehran Stock Exchange (TSE) The bulk of the growth was provided by industrial giants such as Tamin Petroleum …