Economy News

  • Development of Chabahar top priority of Iran: FM Zarif

    Development of Chabahar top priority of Iran: FM Zarif

    Chabahar, May 23, IRNA – Iran’s Foreign Minister Mohammad Javad Zarif said that development of Chabahar free trade zone is high on the agenda of the Iranian Foreign Ministry and foreign policy.

  • US grants waiver to Iraq to buy Iranian energy

    US grants waiver to Iraq to buy Iranian energy

    Tehran, May 23, IRNA – The United States has granted waivers to Iraq to purchase gas and electricity from Iran, US charge d’affaires in Baghdad Joey Hood told reporters.

  • Rouhani: State, private sectors rivalry wrong

    Rouhani: State, private sectors rivalry wrong

    Tehran, May 22, IRNA – Iranian President Hassan Rouhani on Wednesday described competition between the state-run and private sectors as totally wrong, saying that the former should not be a rival for the latter.

  • Trade link with Turkmenistan priority of North Khorasan

    Trade link with Turkmenistan priority of North Khorasan

    Bojnourd, May 22, IRNA - The governor of North Khorasan says the establishment of effective trade relations with all neighboring countries is in the province's planning, but Turkmenistan is in the priority due to its close proximity and cultural ties.

  • Iran’s year-on-year inflation rate at 34.2%

    Iran’s year-on-year inflation rate at 34.2%

    Tehran, May 22, IRNA – Iran’s inflation rate in the 12 months ending in the Iranian calendar month of Ordibehesht (May 21) was announced at 34.2%, according to the latest statistics released by Statistical Center of Iran.

  • $914 million in foreign investment approved in 11 months

    $914 million in foreign investment approved in 11 months

    Tehran, May 22, IRNA - Statistics by the Ministry of Industry, Mining and Trade indicate that from March 21, 2018 until the end of February 2019, $914.455 million of investment for 65 industrial, mineral and commercial plans were approved.

  • Homegrown BeiDou system guarantees industry safety

    Homegrown BeiDou system guarantees industry safety

    Tehran, May 22, IRNA/Global Times – The overall output value of China's satellite navigation and positioning services industry reached 301.6 billion yuan ($43 billion) in 2018, up 18.3 percent on a year-on-year basis, with the country's home-developed BeiDou satellite system contributing 80 percent to the core production value, reads an official white paper.

  • Trade tensions, policy uncertainty damaging prospects for economic growth: UN

    Trade tensions, policy uncertainty damaging prospects for economic growth: UN

    Tehran, May 22, IRNA – Global economy is experiencing landmark slowdown amid unresolved trade tensions, high international policy uncertainty, lack of business confidence, the UN World Economic Situation and Prospects (WESP) said in mid-2019 report in New York.

  • Huawei CEO's mind-set fit to face down US

    Huawei CEO's mind-set fit to face down US

    Tehran, May 22, IRNA/Global Times – During a media interview on Tuesday, Huawei founder and CEO Ren Zhengfei thanked US companies for their years of cooperation and said he believed that the supply cut to Huawei was instigated by US politicians rather than US companies.

  • More Chinese airlines could seek compensation from Boeing amid trade war

    More Chinese airlines could seek compensation from Boeing amid trade war

    Tehran, May 22, IRNA/Global Times - After China Eastern Airlines became the first domestic carrier to seek compensation from Boeing Co for losses caused by the grounding of the US plane maker's flawed 737 MAX aircraft, more Chinese airlines could follow suit amid an escalating trade and technology battle between China and the US, according to industry insiders.