Economy

PayvandNews – The European Union’s trade with Iran amounted to 1.55 billion Euros in January 2017, a 171 percent rise compared to the first month of 2016, based on the latest figures released by the European Union’s statistics agency Eurostat.  The figure was 572 million Euros in January 2016, Tasnim news agency reported. Iran’s exports to the EU stood at …

Al-monitor — The Central Bank of Iran (CBI) has for some time been working on a plan to stop using the US dollar in its financial reports. In a program aired on Iranian state television Jan. 28, CBI Gov. Valiollah Seif vowed that the regulator would no longer use the US currency in its reports starting with the Iranian fiscal year that began March 21. …

PayvandNews – The ecotourism market in Iran has witnessed a growth over the past couple of years, drawing more domestic and foreign backpackers to the pristine and relatively undisturbed natural areas of the country. Tourists in Amoo Norooz native style resort in Tabas, northwestern Iran Some 530 ecotourism projects have been implemented since the current administration took office in 2013, Cultural Heritage, …

PavyvandNews – Iran has officially inaugurated several mega projects in its natural gas hub of South Pars – projects that can put the country in the lead over production from a giant field that it shares with Qatar.  The projects included South Pars Phases 17 and 18, Phase 19, as well as Phases 21 and 22. They were inaugurated by …

Al-Arabia – Iran’s President Hassan Rowhani defended his economic record in a press conference on Monday but stopped short of formally announcing his candidacy for next month’s presidential election. Rowhani pushed back against criticism from conservatives over his economic performance, saying there had been measurable improvements in agriculture, healthcare, energy and internet coverage, especially in villages and poor suburbs. He …

PayvandNews – Oil market sources say Iran has sold all the oil it had stored at sea for years – a sign of the country’s positive performance in marketing its vital crude oil supplies. Reuters in a report quoted tanker tracking and oil sources as saying that Iran had sold its last stocks from the floating storage in the past …

Al-monitor – It is now an established tradition that Iran’s supreme leader travels to Mashhad on the first day of the Iranian New Year, which fell on March 21 this year, to deliver his most important annual policy speech. This year’s speech was significant as it almost entirely dealt with economic conditions, an indication that the economy, especially unemployment, is …

IOPHR – Since the signing and implementation of the Joint Comprehensive Plan of Action (JCPOA), European businesses have shown great interest in re-entering Iran. Trade between Iran and the EU has already notably picked up. Last year, European exports to Iran amounted to 8.3 billion euros ($8.9 billion), approximately 28% higher than the year before. Meanwhile, European imports grew by some 345%, …

PayvandNews – Iran’s foreign trade volume reached 87.614 billion dollars in the previous Iranian calendar year (ended March 21) with the share of exports standing at 43.930 billion dollars. Iranians imported 43.684 billion dollars of goods in the meantime for the country to enjoy a slight trade surplus. cartoon by Salman Taheri, Iranian daily Shahrvand The overall trade volume of 87.614 …

Al-monitor – In Iran, there are two main approaches to how to avoid a looming banking crisis. The first is to get the Central Bank of Iran (CBI) to implement a major quantitative easing (QE) program — the introduction of new money into the money supply — in a bid to provide troubled banks with immediate liquidity. The second, less …