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EghtesadOnline: The Central Bank of Iran issued an ultimatum on Sunday to non-oil exporters to expedite repatriation of their overseas earnings. If they fail to comply their names will be made public through the media. In a notice published on its website, the CBI said it will reveal the names of exporters of goods and […]
EghtesadOnline: A total of 117,000 tons of watermelons were exported from Iran during the first two months of the current Iranian year (March 20-May 20) to register a 5.12% increase compared with the similar period of last year. According to data released by the Islamic Republic of Iran Customs Administration, 25% of the exports—around 29,427 […]
EghtesadOnline: The National Iranian Gas Company can double the volumes it delivers to thermal power plants and supply at least 310 million cubic meters of natural gas a day to power stations at the peak of electricity consumption in mid-summer, the company spokesman said. “Thermal plants receive almost 150 mcm of gas every day that […]
TEHRAN, Jun. 08 (MNA) – Iran-Turkmenistan border bridge will be inaugurated on Monday evening, said the Iranian official. Spokesman for the Islamic Republic of Iran Customs Administration [IRICA] Seyyed Rouhollah Latifi made the announcement on Monday, saying that Sarakhs border bridge will be officially inaugurated in the presence of Iran’s Minister of Roads and Urban Development , the […]
EghtesadOnline: In a press release outlining reasons behind the monumental growth in liquidity in recent months, the Central Bank of Iran blamed borrowing from the National Development Fund of Iran and the new US sanctions on oil exports. The CBI said the stress of liquidity growth “has rightly become a catchphrase among analysts and attracted […]
EghtesadOnline: Coronavirus bailout loans will ultimately increase money supply but that’s the lesser evil when it comes to making a choice between inflation and recession. The 750-trillion-rial ($4.41 billion) rescue package that the government has prepared following the outbreak of coronavirus in March includes 400 trillion rials ($2.35 billion) in loans to help prevent small- […]
EghtesadOnline: An estimated $1 billon is invested in power sector per annum, but to meet growing demand in coming years this should at the least double, the Energy Ministry spokesman for the power department said in Tehran. “The number of electricity meters nationwide in household, agro and industrial sectors, which now exceeds 36.7 million, jumps […]
TEHRAN, May 19 (MNA) – Vice President for Science and Technology Sorena Sattari announced on Tuesday that Iranian knowledge-based firms have started manufacturing coronavirus test kits and they have received approval from eight countries to export their products. Making the remarks in the southern province of Bushehr, Sattari said “Iran presently has a production capacity […]
EghtesadOnline: Iran has to prepare for a 30% decline in its export value in the current Iranian year (March 2010-21) compared with last year, due to the impacts of the spread of coronavirus on domestic and foreign trade, a member of Iran Chamber of Commerce, Industries, Mines and Agriculture’s board of directors said. “Under the […]
EghtesadOnline: Head of the Iran Chamber of Commerce, Industries, Mines and Agriculture has called on the government to revise stringent rules guiding repatriation of overseas earnings by non-oil exporters. Pointing to exporters’ difficulties in repatriating earnings as required by rules of the Central Bank of Iran, Gholamhossein Shafiei warned that “sticking to past methods will […]