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March 28 2015
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Cost of Living Increased by 20-50 Percent In The Last Iranian Year

- According to government statistics, the rate of inflation dropped in the Persian calendar year that is ending on March 21th. But a look at media news agency reports along with the pronouncements made by authorities, cost of living continued to rise in the last twelve month period. In fact, a new wave of price hikes is expected to hit the pockets of ordinary Iranians in the coming year that begins on March 21st. -Nazanin Kamdar - 3/24/15

Iran's South Pars revenues to hit $127bn in a couple of years: Official

- The head of National Iranian Oil Company (NIOC) says annual energy revenues from the South Pars supergiant in the Persian Gulf will reach USD127 billion within a couple of years. - 3/24/15

Iran on course to regain OPEC position

- Industry observers say Iran is able to reclaim its position as the second largest oil producer in OPEC once US-led sanctions are lifted. Iran has said it could add a million barrels to daily oil production shortly after a deal to lift sanctions. - 3/23/15

Iran, US fight it out in a nutty war

- Iran dominates the world market for exports of split-shelled pistachios but it is facing a stubborn competition from the Americans. Raw, roasted, salted and savory, the Iranian nibble has no rivals for quality but the US has ousted the Middle Eastern country as the largest producer of pistachio nuts. - 3/23/15

South Pars biggest phase to up Iran's GDP 3%

- The biggest phase of Iran's South Pars gas field, namely the phase 12, was officially inaugurated on Tuesday by Iranian President Hassan Rouhani. Addressing the inaugural ceremony, Rouhani said the government puts great emphasis on the policies of resistance economy, the Mehr news agency reported on Tuesday. - 3/18/15

U.S. Oil companies taking position against GOP letter will be rewarded: Iranian Official

- Head of Iranian Ministry of Petroleum's Oil Contracts Revision Committee says the U.S. oil companies taking position against Republican senators who recently wrote a letter warning Iran against a nuclear deal with the U.S. will be rewarded. - 3/18/15

Iran to hike oil exports by 1mn bpd after sanctions lifted

- Iran says it is ready to increase its oil exports by one million barrels per day a few months after the sanctions against the country are lifted. "The increase in Iran's crude export will not decrease oil prices," Iran's Minister of Petroleum Bijan Namdar Zangeneh was quoted as saying by IRNA. - 3/17/15

Iranians selling US assets as nuclear deal nears - Report

- "Iranians living here [in America] can seize the opportunity to park their money in Iran while it [the Iranian rial] is strong today. Markets inside Iran have started reacting positively to the good news for the Iranians of a prospective deal by next week," an unnamed Iranian national has told the Breitbart News in an exclusive interview. - 3/16/15

Iran witnesses surprise fall in US dollar rates against rial

- Iran's exchange market on Sunday witnessed an unprecedented appreciation of the Iranian rial against the US dollar in what many see is the result of an overwhelming positive speculation by the country's businesses toward the outcomes of nuclear talks now underway in Lausanne, Switzerland. - 3/15/15

Iran's pistachio exports rise 71% in 11 months

- Iran exported 171,119 tons of pistachio valued at over $1.5 billion in the first eleven months of the current Iranian calendar year (January 21, 2014-February 19, 2015), a 71 percent rise compared to the same period last year, according to an official in Iranian Agriculture Ministry. - 3/15/15

Caspian Sea: is Iran changing its position on the Caspian legal regime?

- Iranian Deputy Foreign Minister has expressed optimism that the legal status of the Caspian Sea could finally be resolved at the next summit of Caspian littoral states. He said after a meeting of the working group on the Caspian Sea on March 5 the sides have reached complete agreement on six provisions of the Convention on the Legal Status of the Caspian Sea. -Bahman Aghai Diba - 3/13/15

Iran-EU annual trade rises 21% in 2014: Eurostat

- Trade between Iran and the European Union amounted to 7.566 billion Euro in 2014, a 21 percent growth from 6.229 billion Euro in 2013, according to the EU statistics agency Eurostat. The EU exported 6.403 billion Euro worth of goods to Iran in 2014, showing 18 percent rise compared to the year before, when the figure was 5.445 billion Euro, the IRNA news agency reported on Tuesday, citing Eurostat data. - 3/13/15

Iran, Turkmenistan keen to up mutual trade to $60bn

- The Iranian and Turkmen presidents say they are determined to increase the volume of mutual economic transactions to USD60 billion within the next 10 years. The agreement between Iran's Hassan Rouhani and Turkmenistan's Gurbanguly Berdimuhamedow to further boost ties was announced during a joint high-level meeting on Wednesday in the Turkmen capital of Ashgabat. - 3/11/15

France's Peugeot agrees to resume work in Iran

- French automaker PSA Peugeot-Citroen has reached agreement with Iran's leading carmaker Iran Khodro for the establishment of a factory in Iran, Iran Khodro's CEO says. "Peugeot will set up a joint factory with Iran Khodro, held 50% by Peugeot and 50% by Iran Khodro," Mehr news agency quoted Hashem Yekkeh-Zare as saying. - 3/11/15

Iran, China to raise trade to $60b in one year

- Iran and China hope to bring the level of their trade exchanges to $60 billion from the current $52 billion in a year or so, the head of Iran-China Joint Chamber of Commerce says. - 3/10/15

US firms already sealing deals in Tehran: Report

- Reports emerged on Saturday that said American enterprises have already started taking initial steps to enter the Iranian market in case the current nuclear talks with the country succeed and sanctions against it are lifted. - 3/9/15

Russia: With Progress On Nuclear Program, Iran Could Join SCO

- Iran may be admitted into the Shanghai Cooperation Organization this summer if it makes progress in resolving disputes over its nuclear program, Russia's foreign minister, Sergey Lavrov, has said. - Joshua Kucera, LobeLog - 3/8/15

Sanctions and agreement don't go together: Iranian FM Zarif

- Iranian Foreign Minister Mohammad Javad Zarif says a gradual lifting of the sanctions on Iran is not "very conducive" to confidence building. "We have a very clear mandate that all sanctions must go," Zarif said in an interview with Kyodo News published on Friday. "Sanctions and an agreement don't go together," said Zarif. - 3/7/15

Iranian Official Says Caspian Legal Status Nearly Resolved

- Iranian Deputy Foreign Minister Ibrahim Rahimpour has expressed optimism that the legal status of the Caspian Sea could finally be resolved at the next summit of Caspian littoral states. The five littoral states -- Iran, Azerbaijan, Russia, Kazakhstan, and Turkmenistan -- have been debating the status of the Caspian for some 20 years trying to agree on whether the Caspian is a sea or a lake. - 3/6/15

Amid Nuclear Dispute, Israel, Iran Face Off Over Oil Ties

- TEL AVIV-- As Israel loudly and publicly denounces Iran and its nuclear program this week, the two countries are quietly tussling in a decades-old dispute over a secretive oil pipeline company that could be worth billions of dollars to Tehran. -Reuters - 3/4/15

Iranian Teachers Hold Silent Demonstrations Across Iran

- Iranian teachers across the country gathered in silence in front of their local education ministry offices to protest their employment conditions. Teachers maintain that their wages are effectively keeping them under the poverty line. - 3/2/15

Higher education in Iran means higher jobless rate

- Iran's Minister of Science and Technology says the unemployment rate among university graduates is higher than the general unemployment average, and that is why the country's academic elite go abroad for work. - 2/28/15

MP says sanctions-related cash leaving Iran in suitcases

- A conservative Iranian MP says he has received certain reports that a significant amount of Central Bank foreign currency assets has been taken out of the country in suitcases. He also claimed that the money represents the very assets released as a result of the Geneva agreement. - 2/25/15

Iranian teachers escalate protests by skipping class

- Teachers in several Iranian cities are refusing to attend classes as they continue to protest the lack of attention to their demands. Zamaneh's own reporting as well as reports on the Melli Mazhabi website indicate that on Sunday February 22, teachers used social media to coordinate a one-day strike across the country. - 2/24/15

Iran Seeking Role In Selling Gas To Europe

- Russia, beware, Iran is trying to get into the European gas market. In recent months, Iranian officials have been signaling to potential customers in Europe, potential suppliers in the Caspian Basin, and transit country Turkey that Iran is not only ready to get into the game but that without Iranian participation the European Union's Southern Gas Corridor will take many years to realize, or might never be realized. -Bruce Pannier, RFE - 2/22/15

Iran: Supreme Leader casts doubt on lifting of sanctions

- In a speech on Wednesday February 18, Ayatollah Khamenei said: "The enemy is taking maximum advantage of its sanctions tactic. They are trying to stop the people. I believe that even if the nuclear issues proceed as they dictate, sanctions will not be lifted because they are against the principle of the Revolution." - 2/19/15

Iran parliament endorses fuel price hike

- The Iranian parliament (Majlis) has approved a five-percent increase in fuel prices for the next fiscal year starting March 21, amid falling oil prices. The Iranian lawmakers voted in favor of fuel price hike during deliberations on the annual budget bill for next year on Monday - 2/18/15

Iran's Neoliberal Austerity-Security Budget

- President Hassan Rouhani submitted Iran's 1394 (the Persian New Year begins on 21 March 2015) Budget Bill to the Iranian Parliament this last December. The budget was put together before the sharp fall in oil prices and before the nuclear negotiations failed to reach the expected "comprehensive" deal on November 24, 2014. -Hooshang Amirahmadi - 2/16/15

Chinese Foreign Minister Pushes Iran On Nuclear Deal

- Chinese Foreign Minister Wang Yi said during a trip to Tehran on February 15 that striking a deal in talks with the United States, China, France, Russia, Germany, and Britain would allow Iran to uphold its "legal rights" to use nuclear power and shed international economic sanctions, allowing Iranians to "energetically develop the economy." - 2/16/15

Iran will boost gas production by 100mn cubic meters: President Rouhani

- Addressing a massive gathering of people celebrating the victory of the 1979 Islamic Revolution in Tehran on Wednesday, President Rouhani said Iran has made great strides in the energy sector by increasing its oil production from 2.7 million barrels a day last year to 2.9 million this year, and boosting its natural gas output by 100mcm/d in the same period. - 2/12/15

Long-term oil price prediction drives price even lower

- Following predictions from the International Energy Agency that the price of oil will see a limited rise in the next five years, oil prices in Asian markets plummeted once more on Tuesday February 10. - 2/11/15

Labor Protests Sweep Iran

- A wave of labor protests has been sweeping through Iran over the past ten days. The protests are focused on workers' demands for wage increases to keep up with the growing rate of inflation, payment of back wages, and other issues such as layoffs and non-renewal of labor contracts. - 2/5/15

Iranian government confirms larger bonus for public servants

- The Iranian administration has announced that the bonus for public servants in the new Iranian calendar year will be 603,500 toumans. The government traditionally pays a bonus to its employees and retirees on the occasion of Norooz, though it's usually paid about four to six weeks prior to the new year. - 2/5/15

Iran, Russia agree to measures for business cooperation

- The Iranian ambassador to Russia says the Mir Business Bank and the Melli Bank will cooperate in order to facilitate business transactions between the two countries. - 2/4/15

Iran ready to transfer Azerbaijan, Turkmenistan gas to Europe

- Iran has proposed to transfer natural gas from Azerbaijan and Turkmenistan to Europe. "We propose that gas be transferred from Azerbaijan and Turkmenistan to Iran and then be exported from there to Europe through Turkey. This is the most economical and cost-effective way of transferring gas to Europe" IRNA News Agency quoted Azizollah Ramezani, the international affairs director of National Iranian Gas Company (NIGC) as saying. - 2/2/15

Iran government faces balancing act

- The Iranian government is grappling with a steady slump in oil prices and President Hassan Rouhani is hard pressed to balance the sheet. According to new official figures, Iran's crude oil prices skidded to around $50 per barrel over the two months leading to January. That was 30% down from their value in October, the statistics released by the Central Bank of Iran show. - 1/31/15

Iranian President to Tax-Exempt Groups: Pay Up

- Iran's economy has been limping badly. The U.S.-driven sanctions imposed because of Iran's nuclear program have curtailed its oil exports and cut off its banks from global financial networks. A 58 percent oil price slump since June has done damage, and the government is revising a draft budget that will lower the assumed price of oil to $40 a barrel from $72. -Bloomberg - 1/30/15

Iran's economy can grow by over 8% if sanctions lifted: Finance Minister

- Finance and Economic Affairs Minister Ali Tayyebnia said on Monday that the Iranian economy can grow by over eight percent if the sanctions against the country are lifted. Achieving this goal requires making use of all economic capacities in the country, the Fars news agency quoted Tayyebnia as saying. - 1/27/15

Bread gets more expensive in Iran as controls loosen

- Bread prices have gone up once again in Tehran and other cities as the second phase of deregulating bread prices begins. The Mehr News Agency reports that on Saturday January 24, the second phase of lifting the cap on bread prices will be implemented. - 1/25/15

Oil price rise after Saudi ruler's death is seen as temporary

- Oil prices went up following the news that Malek Abdullah had passed away. Reports indicate that the rise in prices is temporary and Saudi Arabian oil policies will not change before the OPEC meeting in June. - 1/24/15

Iran announces record gas production

- Iran said on Saturday that it has been able to produce a total of 105 million cubic meters of sweet gas per day (mcm/d) from five prioritized projects in the country's energy hub of South Pars from June 2013. - 1/24/15

Iranian teachers begin strike to protest wages, inadequate budget

- Teachers from across Iran have begun a strike in the past two days to protest their wages as well as reports that the education ministry will only get a 14-percent budget increase in the coming year. - 1/23/15

Iran will face no problem even with $25 oil: Finance Minister

- Iranian Finance and Economic Affairs Minister Ali Tayyebnia says the administration will face no problem even if oil price drops to $25 a barrel. "For the time being, predicting oil price fluctuations is not possible. So, the administration is preparing itself to deal with any probable situation," - 1/21/15

Iran planning to lower oil price in budget to $40 a barrel: Finance Minister

- The Iranian administration is planning to lower the crude oil price for the next year's budget (March 2015-March 2016) to $40, Finance and Economic Affairs Minister Ali Tayyebnia stated. - 1/17/15

Plunging oil prices cost Iran billions

- The fall in the price of oil has led to a $5.2-billion decline in Iran's oil revenues. The Tasnim website reports that according to OPEC, the price of Iranian oil has fallen by $60 a barrel since last June. - 1/14/15

Asian markets see further fall in oil prices

- Oil prices in Asian markets have experienced a further drop as the demand is weak and a continued oversupply puts more pressure on the prices already at their lowest in five and a half years. - 1/12/15

Nicolas Maduro visits Tehran: Iran, Venezuela stress expansion of all-out relations

- In a Saturday meeting between Iranian President Hassan Rohani and his Venezuelan counterpart Nicolas Maduro in Tehran, the two sides stressed promotion of economic, political and cultural ties. - 1/10/15

How OPEC Weaponized the Price of Oil Against U.S. Drillers

- If there ever was doubt about the strategy of the Organization of Petroleum Exporting Countries, its wealthiest members are putting that issue to rest. Representatives of Saudi Arabia, the United Arab Emirates and Kuwait stressed a dozen times in the past six weeks that the group won't curb output to halt the biggest drop in crude since 2008. -Grant Smith, Bloomberg - 1/9/15

President Rouhani Urges End to Iran's Isolation

- "We want a sustainable, comprehensive and continued development. It is not possible to say we want economic development but want to be politically restrictive," said Rouhani, speaking at Iran's first National Economy Conference in Tehran. - 1/5/15

Tehran to host first Italian exclusive exhibit

- he First exclusive exhibition of Italian companies in Iran will open today at the Tehran Permanent International Fairgrounds. The event, which is the first exclusive exhibition of a European country in Iran, will host over 50 Italian companies - 1/5/15

Iran oil dependency under 30% in new draft budget

- Iran expects to slash its dependency on oil revenues to all-time lows, the country's vice-president for scientific and technological affairs says. Iran is faced with an unprecedented downfall in the prices of oil at the international markets which, accompanied by West's sanctions on Iran's oil exports, could further shrink the country's actual earnings. - 1/5/15

Iran's Rohani Says International Isolation Harming Economy

- During a televised speech to leading economists on January 4, Hassan Rohani said "we can't have sustainable growth while we are isolated." He also called for reduced state involvement in the economy and greater transparency in order to end Iran's international isolation. - 1/4/15

Iran-China trade hits $47.5B in 11 months

- Trade between Iran and China amounted to $47.5 billion from January to November 2014, a 36 percent rise year on year, according to the Chinese General Administration of Customs. - 1/4/15

'Saudi Arabia enjoying perfect storm in oil market': Analyst

- Oil prices have plunged about 50 percent since June on mounting supplies by certain countries such as Saudi Arabia, the largest producer in the Organization of the Petroleum-Exporting Countries (OPEC), and lackluster global economic growth. - 1/3/15

Rohani deputy slams former administration over oil revenues

- Eshagh Jahangiri, the chief deputy to President to Hassan Rohani, says Iranian economy was " at the bottom of the pit" when the new administration took over, but they have managed to "lift it ten steps" closer to the top. - 1/3/15

Youth hit hard as unemployment rises in Iran

- Iran's Census Bureau reports that unemployment rose to 10.5 percent in the fall of 2014, which marks a one-percent increase compared to the summer and a two-percent rise compared to fall of last year. - 1/2/15

Iranian Official Urges Saudis To Act To Stop Oil Price Slide

- An Iranian Foreign Ministry official says falling oil prices will hurt Middle Eastern countries and Saudi Arabia's decision not to reduce production is a mistake. World oil prices ended 2014 at a 5 1/2-year low, with the price for a barrel of oil decreasing nearly 50 percent since June. - 1/2/15

Iran-Turkey preferential trade agreement takes effect

- The preferential trade agreement, which was signed last year between Iran and Turkey, goes into force on January 1, 2015. Iranian Industry, Mining, and Trade Minister Mohammadreza Nematzadeh and Turkish Economy Minister Nihat Zeybekci endorsed the agreement in a ceremony in Tehran on Wednesday. - 1/2/15

Lower Oil Prices Will Not Turn Producers into Pushovers

- The steep drop in the price of oil during the latter half of 2014 has generated much comment about how this development has weakened major oil-producing countries and supposedly made their governments more pliable on issues that separate them from other countries. -Paul R. Pillar, LobeLog - 1/2/15

President Rouhani stresses speedy construction of Chabahar-Mashhad railway

- President Hassan Rouhani has emphasized the need to expedite the construction of the Chabahar-Zahedan-Mashhad railway, which will extend 1,380 kilometers from southeast to northeast of Iran. On Tuesday, Rouhani accompanied by a delegation, traveled to the port city of Chabahar on the east coast of the Sea of Oman. - 12/31/14

US Treasury Adds More People, Entities To Iranian Sanctions List

- Today the U.S. Department of the Treasury designated nine individuals and entities under various Iran-related authorities for their support of Iranian government sanctions evasion efforts and human rights-related abusers, including those engaged in censorship. - 12/31/14

Photos: Iranian two-seat electric vehicle unveiled

- A two-seater electric vehicle built by a group of students and professors in Qazvin Islamic Azad University was unveiled in Azad University of Tehran. The newly-unveiled plug-in car has a width of 120cm and its length is 2m, which can reduce parking problems on the streets of Tehran. Moreover, The car does not produce any pollution. - 12/30/14

Protests at an IRGC Plant: Mediation to End the Workers Strike in Arak, Iran

- Workers at the Pars Wagon train car manufacturing plant who on the third day of their strike had taken their protest to the streets finally ended their action on Saturday after the mediation of the chief of police of the town of Arak and a member of the town's security team. - 12/30/14

Iran approves $15b plan to develop joint oilfields

- Iran has approved a comprehensive plan to develop joint oilfields at a cost of $15 billion. Iran has a number of joint fields with Qatar, Saudi Arabia, and Iraq. - 12/30/14

Iran will weather storm of 'oil plot': President Rouhani

- Iranian President Hassan Rouhani has predicted that oil prices will not remain low and has stated that Iran will deal with the current "oil plot" through the people's support. Rouhani made the remarks on Wednesday in a speech to a large group of people in the eastern city of Birjand, the capital of South Khorasan Province. - 12/25/14

Iran's GDP grows by 4%: Central Bank

- TEHRAN -Iran's gross domestic product grew by 4 percent in the first half of the current Iranian calendar year, which began on March 21, compared to the same period in the previous year, the Central Bank of Iran reported. - 12/25/14

Iran's Budget Woes Unlikely to Derail Nuclear Goals

- A big slide in oil prices will hurt Iran's attempts to rescue battered living standards, but economic pain is unlikely to soften the Islamic Republic's stance in nuclear talks or end aid to allies such as Syria, matters seen by its ruling clerics as strategic priorities. -Reuters - 12/23/14

Iran projected to maintain oil output at 2.8 mbpd in December.: EIA

- Iran's crude oil output was projected to remain 2.8 million barrels per day in December 2014, unchanged compared to previous months, according to the U.S. Energy Information Administration (EIA). - 12/22/14

New Iran Bank Rules Change Interest Paid On Deposits

- New central bank directives have put an end to the payment of daily interest on deposits, and only a minimum one-year deposit is allotted interest at 22 percent. Reports indicate, however, that some financial institutions are still offering daily interest rates at 27 percent per annum. - 12/22/14

Iran and Landlocked States

- Land-locked states or coast-less states are the states that have no free access to the open waters of the world. At the moment, there are 42 land-locked States and out of these, a considerable number are in the area that Iran is situated: Afghanistan, Azerbaijan, Kazakhstan, Tajikistan, Turkmenistan, Uzbekistan, Armenia, and Kirgizstan. - Bahman Aghai Diba - 12/20/14

Iran's Income from South Pars Gas Field to Hit $167B in 2017

- An Iranian gas official predicted that South Pars gas field will generate an annual income of 167 billion dollars for Iran in 2017-2018. -The South Pars gas field, whose development has been divided into 24 phases, is located in the Persian Gulf straddling the maritime border between Iran and Qatar. - 12/20/14

Photos: Bonefishing season begins in Caspian Sea

- Iranian fishermen in north of the country have started the bonefishing season in the Caspian Sea. Bonefish live in shallow inshore water and the fishing is done by wading or from a shallow-draft boat. - 12/19/14

Nuclear Program Has 'Hurt Iran More Than Iraq War'

- Iran's nuclear activities and ambitions faced rare, blunt criticism at a roundtable at Tehran University, where one of the speakers said the damage done by the nuclear program was greater than that by the 1980-88 war with Iraq, which left tens of thousands dead and caused much devastation. -Golnaz Esfandiari, RFE - 12/18/14

Reports of Ahmadinejad administration's corruption called "tip of iceberg"

- The head of Iran's Expediency Council said on Tuesday December 16 that the administration cannot fully report on the depth of the problems it has inherited from the former administration of Mahmoud Ahmadinejad, adding that only "the tip of the iceberg of corruption" has been revealed so far. - 12/17/14

Iran exports $954M pistachios in eight months

- Iran exported $954 million of pistachio in the first eight months of the current Iranian calendar year, which began on March 21, a 67 percent rise compared to the same period last year, the Fars news agency reported on Monday. - 12/17/14
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