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Decoding Iran's economic indicators

- In the past few weeks, there has been a major debate in Iran about the validity of economic data presented by the Central Bank of Iran (CBI) and government officials. It all started with a detailed report by the CBI stating that the Iranian economy grew by 4.6% in the 12-month period ending in spring 2014. -Bijan Khajehpour, Al-Monitor - 10/24/14

Iran, Russia to open new chapter in trade ties

- Iran and Russia are considering possibilities of opening a new chapter in their trade relations, with experts saying the new measures could break the domination of Western currencies over bilateral exchanges, Press TV reports. - 10/22/14

Iran, Armenia to form joint commission to boost trade ties

- The Armenian prime minister arrived in Tehran on Monday to discuss bilateral ties and the latest regional and international developments with high-ranking Iranian officials. A host of topics, particularly energy issues, is slated to be discussed during the two-day visit of the Armenian prime minister. - 10/21/14

Over 800 firms participating in 2 international trade fairs in Tehran

- Two international trade exhibitions were inaugurated on Friday at the Tehran Permanent International Fairgrounds. Over 800 Iranian and foreign firms are participating in the exhibitions. - 10/18/14

Explainer: The Oil Price Plunge

- In the past several days-despite the conflicts affecting Iraq, Syria, Iran and Russia-oil prices have been on a downward trend, hitting their lowest number in the past four years. As of October 2014, oil prices are more than 20 percent lower than June. -Sara Vakhshouri, LobeLog - 10/17/14

Iranian investment scene 'improving' as relations thaw

- International investors looking to exploit opportunities in Iran have been meeting for the first time in concert since the country's 1979 revolution. Hundreds of people gathered at The 1st Europe-Iran Forum in London to hear from the likes of former foreign secretary Jack Straw and meet members of Iran's top business families. -hilip Hampsheir, BBC - 10/17/14

1st Europe-Iran Forum kicks off in London

- With the prospect of improved political relations and a new business climate between Europe and Iran, the 1st Europe-Iran Forum kicked off in London Wednesday morning. The two-day event, organized by European Voice aims to "properly prepare and evaluate the post-sanctions trade framework and investment opportunities", according to a brochure released by the organizers. - 10/16/14

Falling Oil Prices Spell Trouble For Some, But Could Also Boost Global Growth

- Suddenly, the world seems to be awash in oil, with benchmark Brent crude that sold for $110 a barrel in June dropping to under $88 a barrel on October 13. That's a 20 percent price plunge and one that bodes serious economic trouble for countries whose revenues depend heavily on their oil exports. -Charles Recknagel, RFE - 10/15/14

Why President Rouhani's "Economic Package" is Empty

- Tired of the oppressive financial hardship, wrought largely by the imperialist economic war against Iran, the Iranian people elected Hassan Rouhani president (June 2013) as he promised economic revival. He premised his pledge of economic recovery mainly on his alleged ability to bring the brutal sanctions against Iran to an end and integrate the Iranian economy into the world capitalist system. -Ismael Hossein-zadeh - 10/14/14

Iran oil price cut nothing to do with rivalry with Saudi Arabia: NIOC

- In a recent report, Bloomberg reported that Iran has slashed its crude prices in an attempt to attract Asian customers following Saudi Arabia's decision to cut its oil price to the lowest level since 2008. - 10/13/14

Iran needs to create 8 million jobs in near future: Finance Minister

- Iran's minister of finance and economic affairs says that the administration of President Hassan Rouhani has made the task of creating jobs one of the core pillars of its new economic policy package. In recent remarks, Ali Tayyebnia said that one of the main policies of the government of prudence and hope is to create jobs. He also added that 8 million jobs need to be created in the near future. - 10/12/14

Iran to invest $220m in 30 tourism projects

- Iran's Cultural Heritage, Tourism and Handicrafts Organization will invest 7 trillion rials (about $220 million) to implement 30 projects to promote tourism in the country. The investments will be made to build hotels, guest houses, and accommodation camps across the country - 10/12/14

US: 'Severe Penalties' if Europe-Iran Forum Violates Sanctions

- WASHINGTON- A State Department official said an upcoming Europe-Iran business conference, the first gathering of its kind, underscores to Iran the great benefits of reaching an agreement with world powers on its nuclear program, as well as the cost of failing to do so. - 10/11/14

Iran's jobless rate dropped to 9.5% in summer

- Iran's jobless rate reached 9.5 percent in summer, the Statistical Center of Iran reported. The center put the number of unemployed people at 2.257 million - 10/11/14

Investors: Absent sanctions, "no emerging market has as much potential as Iran"

- Washington, DC - "Iran is going from an emerging [economy] to a developing economy. What's missing from Iran making that leap is connectivity with the West," said Bijan Khajehpour, a strategic analyst and entrepreneur, while speaking on a panel regarding the business implications of a nuclear deal at NIAC's 2014 Leadership Conference. - 10/11/14

Accused Iranian tycoon's location unclear to investigating team

- The committee established to follow up on the charges against Iranian tycoon Babak Zanjani, who's accused of failing to pay back trillions of toumans he owes to Iran's oil ministry, says it is not certain whether Zanjani is in prison. - 10/10/14

IMF projects 2.2% GDP growth for Iran in 2015 amid global economic slowdown

- In its World Economic Outlook for the month of October, the International Monetary Fund has projected 2.2% real GDP growth for the Islamic Republic of Iran in 2015, dropping it from the 2.3% that was predicted in its April report. - 10/9/14

Eni ranks Iran 2nd in gas exports in 2013

- Iran was ranked second in 2013 among natural gas exporters, pumping 128.08 billion cubic meters of gas abroad, the Italian energy company, Eni, said in a report (World Oil and Gas Review 2014) published Monday. - 10/8/14

EU sanctions on Iran oil tanker firm annulled

- The European Union's sanctions against Iran's main oil tanker firm, the National Iranian Tanker Company (NITC), have been annulled. In July, the Luxembourg-based General Court ruled there were no grounds to blacklist the NITC in the bloc after the company contested the designation. The EU did not appeal the decision. - 10/8/14

Can Technology Bridge the Schism of Politics?: What a Berkeley event says about the power of diasporas and technology

- The Bridge 2014 gathering on "High-Tech Entrepreneurship in Iran," held at the Wheeler Auditorium of the University of California at Berkeley on the first Saturday of September, broke new ground on multiple fronts. It drew seven hundred people from across the U.S. and internationally. Over a dozen leading academics and entrepreneurs came from Iran itself... -Alidad Mafinezam - 10/6/14

Iranian ecommerce thrives despite obstacles

- High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/e44136e6-3cdb-11e4-9733-00144feabdc0.html#ixzz3EzQTsmrG When brothers Hamid and Saeed Mohammadi founded online retailer Digikala in 2007 they had capital of $20,000, an office in a small apartment in Tehran and a couple of engineers on the payroll. Now the company controls about 85 per cent of Iran's online retail market and leads the country's ecommerce sector -Najmeh Bozorgmehr, Financial Times - 10/2/14

Is Iran facing a liquidity crisis?

- Amidst some positive news on the economy, the business community is growing aware of the enormous downside risks on the horizon as nuclear talks again come to a head. Our exclusive sources reveal the severity of the situation, with Iran facing a potential liquidity crisis and a perfect storm in the financial sector if hope of sanctions relief is permanently lost. -VerityIran - 10/2/14

Iran's Non-Oil Trade Up 44 Percent In 6 Months

- Iran's total non-oil trade hit $49.69 billion in the first half of the current Iranian calendar year (March 21-September 22), a 44 percent rise compared to the same period in the previous year. - 9/29/14

Iranian Women Unemployment Rate at 43.4 Percent

- Women's unemployment rate in the last eight years reached 43.4 percent, according to the latest report released by the Statistical Center of Iran. Although it has been years since women are working outside home, job opportunities for women have been restricted by the male-dominated society and unjust competition. - 9/28/14

Iran's inflation rate has dramatic fall

- Iran's Central Bank says the inflation rate has been cut in half compared to the same time last year, falling to 20.1 percent. The report adds that health services have been hit with the highest inflation at 30.1 percent, with transportation trailing at 25 percent. - 9/27/14

Iran economy attains positive growth after two years

- The Central Bank of Iran (CBI) says country's economy has attained positive growth for the first time in two years. New figures released by the CBI on Thursday show the economy expanded 4.6 percent in the first quarter of the current Iranian calendar year (started March 21, 2014). - 9/26/14

EU Plans for Iran Gas Imports If Sanctions Go

- The European Union is quietly increasing the urgency of a plan to import natural gas from Iran, as relations with Tehran thaw while those with top gas supplier Russia grow chillier. -Reuters - 9/25/14

Iran ready to supply Europe gas via Austria: President Rouhani

- Iranian President Hassan Rouhani says the Islamic Republic can be a reliable supplier of energy for Europe, adding that Tehran is ready to transfer gas to the European countries via Austria. The Iranian president made the remarks in a Tuesday meeting with his Austrian counterpart Heinz Fischer in New York on the sidelines of the 69th UN General Assembly meeting. - 9/24/14

Caspian Sea is not the sea of peace: On the occasion of the 4th Summit of Caspian Leaders

- Leaders of the Caspian Sea littoral states keep talking about the peace and security in the Caspian Sea. They even signed a security agreement in the Third Summit of the Caspian States (Baku, Azerbaijan Republic, 18 November 2010). But the reality is that the Caspian Sea is not as peaceful as it looks. -Bahman Aghai Diba - 9/23/14

EU court rescinds Iran central bank sanctions

- A top European court has struck down restrictions imposed by the European Union against the Central Bank of Iran (CBI) on an alleged charge of circumventing US-led sanctions against the Islamic Republic. - 9/19/14

Private homes in Iran hold more gold than Central Bank

- The lack of a clear outlook on the Iranian economy has led Iranians to store large quantities of gold in their home, and recent reports indicate that the amount of gold stored in homes now exceeds the amount in the Central Bank. - 9/13/14

Iran, Russia call for promotion of bilateral relations

- Iranian President Hassan Rouhani and his Russian counterpart, Vladimir Putin, met Friday on the sidelines of the summit of the Shanghai Cooperation Organization (SCO) in the Tajik capital to discuss issues of mutual interest as well as regional and international developments. - 9/13/14

China seeks expansion of strategic ties with Iran: Xi

- In a Friday meeting with Iranian President Hassan Rouhani in the Tajik capital, Dushanbe, Xi underscored the Islamic Republic's significant position in the region and the entire world, saying Beijing seeks to promote "strategic" ties with Tehran. - 9/13/14

Iran-Russia trade could jump tenfold in 2 years: Iranian Oil Minister

- Iranian Oil Minister Bijan Namdar Zanganeh says Iran and Russia can increase bilateral trade by tenfold over the next two years. On Tuesday, Zanganeh and Russian Energy Minister Alexander Novak signed an agreement in Tehran to expand cooperation in the areas of industry, mining, trade, agriculture, tourism, modern technology, and energy. - 9/11/14

IMF sees jobless rate rising in Iran

- The International Monetary Fund (IMF) has predicted that the unemployment rate in Iran will rise to 14.65 in 2015, the Tasnim News Agency reported on Sunday. IMF said Iran's unemployment rate stood at 12.93 percent in 2013, while the figure is forecast to reach 14.01 percent in 2014. - 9/11/14

Iran: Minister warns of ballooning unemployment

- Iran's Labour Minister is sounding an alarm about the rising rate of unemployment, warning that if the current trend continues, the country could have 10 million unemployed workers within seven years. - 9/10/14

Oil prices suffer steady decline

- Oil prices have fallen below $100 a barrel for the first time in the past 14 months. Reports on Monday September 8 indicate that Brent North Sea Crude oil is now priced at $99.95 a barrel. - 9/10/14

Iran sees no limits to expansion of economic ties with Russia: Oil Minister

- Iran sees no limits to expand economic ties with Russia, Iranian Oil Minister Bijan Namdar Zanganeh said. Iran and Russia will hold their 11th joint economic committee meeting in Tehran on September 9-10. - 9/7/14

Germany, EU's leading exporter to Iran: Eurostat

- Germany was the leading exporter of goods to Iran among the EU nations in June 2014, according to the EU statistics agency Eurostat. The European country exported 207 Euro million of goods to Iran in June 2014, an 88 percent rise compared to June 2013. - 9/2/14

Minister of Economy touts Iran's economic turnaround

- The Iranian economy has faced serious decline due to changes in government subsidies, the rise in inflation and widespread international sanctions. Previous reports regarding inflation indicated that after reaching rates of 40 percent, the inflation rate is now in a downward trend and closer to 23.2 percent. - 8/31/14

President Rohani Condemns 'Oppressive' New Sanctions Imposed by U.S. Against Iran

- The United States has announced newly imposed sanctions against more than 25 Iranian entities and individuals that Washington accuses of a range of transgressions. Iranian President Hassan Rohani has condemned the latest round of Western sanctions against the Islamic republic. Rohani, in an address on August 30, called the sanctions an "oppression." - 8/30/14

Five Thousand Iranian Mine Workers Strike in Protest against Arrest of Strikers

- In an increasingly tense and prolonged stand-off between striking miners, the Bafgh Iron Ore Mines, and judicial officials, which originally began in May 2014 over plans to privatize the mine, a new round of strikes at the mines began on August 19 over the arrests of some of the strikers, reportedly involving some 5000 miners... - 8/29/14

Families of striking Iranian miners angered by bail

- While the court has issued bail for workers detained during the labour protests in Bafgh, their families protest that the accused "have not committed any crime and should not be required to put up bail for their release." - 8/28/14

Will Rouhani's Iran economic stimulus package work?

- In mid-July, nearly a year after President Hassan Rouhani took office, his administration introduced a package of economic reforms with the objective of moving the economy out of stagflation. The so-called stimulus package has tried to address key challenges in the Iranian economy... -Bijan Khajehpour, Al-Monitor - 8/26/14

Iran: Riot police arrest protesting mine workers

- Riot police were deployed at the Bafgh Iron Ore Mine on Wednesday August 20 in response to miner protests. According to ILNA, one of the protesting workers reported that police tried to break up the demonstrations and arrested 16 workers. - 8/23/14

13 European, Asian firms ready to invest in Iran gas projects

- Four British and French companies, three Japanese companies, two South Korean companies, and four Chinese companies, as well as four Iranian companies, are prepared to invest a total of $15 billion in Iranian gas projects, the ISNA news agency quoted Soheilipour as saying on Sunday. - 8/18/14

Wary of lifting Iran sanctions, EU overrides own courts

- Despite scores of Iranian individuals and companies successfully proving in European courts that the sanctions placed upon them are illegal under EU law, many remain listed, as the EU executive effectively overrides the decisions of its own courts. -Arron Merat, Al-Monitor - 8/18/14

Iran to construct largest oil terminal in Oman Gulf

- Director of Iranian Oil Terminal Company has said the country has been constructing oil terminal in Jask (Hormozgan Province) with capacity of 2.5 billion barrels per day. - 8/16/14

Is Turkmenistan Losing Iran As A Gas Customer?

- It appears Turkmenistan is about to lose its second-best customer for natural gas, Iran. Iranian Oil Minister Bijan Namdar Zanganeh said on August 11 that his country no longer needed gas from Turkmenistan. Zanganeh went so far as to say, "Iran is importing Turkmen gas just because it is important to promote political and economic relations with Turkmenistan." -RFE - 8/15/14

Iran's economy shrank 1.9% last calendar year: Central Bank

- The Central Bank of Iran has confirmed that the national economy, including the oil sector, contracted by 1.9 percent in the Iranian calendar year 1392 (March 2013-March 2014). - 8/14/14

Iran: Land transfer to foreign firms in Aras Free Trade Zone approved

- The administration of Iranian President Hassan Rouhani has approved legislation allowing the transfer of land to foreign companies in the Aras Free Trade and Industrial Zone, which is located in the northwestern province of East Azarbaijan. - 8/14/14

Iranian Oil Minister blasts former government for missing billions

- Iran's Minister of Oil has accused the former administration of abuse of power and the promotion of corruption. He added that under the former administration's watch, Babak Zanjani, the Iranian tycoon now in custody on embezzlement charges, managed to receive 2.7 billion dollars thought a "fake bank" with the collaboration of a number of ministers and the head of the Central Bank, and that the money is now untraceable and gone. - 8/13/14

IMF Says Rouhani Has Stabilized Iran's Economy

- The International Monetary Fund said President Hassan Rouhani's policies of reducing energy subsidies along with the easing of international sanctions have helped to steady Iran's economy and cut inflation. -Bloomberg - 8/11/14

Iran ready to supply energy to Europe via Nabucco

- Iran is ready to provide Europe with gas requirements through the Nabucco pipeline, Ali Majedi, Deputy Oil Minister in charge of International Affairs said on Saturday. Speaking to IRNA, he noted that since Europe seeks to diversify its energy resources, Iran by having the biggest gas reserves can provide Europe with parts of its energy needs through Nabucco pipeline. - 8/9/14

Iran: President Rohani slams predecessor's oil policies

- Iranian president Hassan Rohani accused his predecessor Mahmoud Ahmadinejad of having "a lack of wisdom" and said: "Under the pretext of circumventing sanctions, they gave the oil away to those who took it away for themselves and in effect circumvented the Iranian people." - 8/8/14

German business looks to renew Iran contacts

- German businesses are cooling on Russian investments amid anger over Russia's role in the Ukrainian conflict while simultaneously warming on another big country hit by Western sanctions: Iran. -Wall Street Journal - 8/5/14

Iran's Economy After One Year of Rouhani

- Iranian President Hassan Rouhani was elected to office largely on his promise to lift the economy out if its deepest recession since the Iran-Iraq war. One year later, evidence of a recovery is hard to find, but he has achieved a few significant accomplishments. -Djavad Salehi-Isfahani - 8/4/14

Tourism Key To Job Creation, Economic Growth In Iran: Finance Minister

- Iranian Finance and Economic Affairs Minister Ali Tayyebnia says the administration of President Hassan Rouhani believes that the promotion of tourism is the key to job creation and economic growth. Ecotourism and medical tourism are the top priorities, the IRNA news agency quoted Tayyebnia as saying on Thursday. - 8/2/14

Iran's inflation rate falls 2.4% in a month

- The Statistical Center of Iran has announced that the inflation rate for the 12-month period that ended on the last day of the Iranian calendar month of Tir (July 22) was 24.2 percent, a 2.2 percent decrease compared to the previous month. - 8/2/14

Stats show dire state of Iran's economy, industry

- Iran's Industry Minister says the economy has shrunk by 2.2 percent since the last measurement and 50 percent of the manufacturing sector is now in recession. Mohammadreza Nematzadeh said "severe currency fluctuations, a lack of equipment and a lack of foreign investment" have left more than 10,000 industrial units half-finished all across the country. - 7/31/14

Mortazavi charged with misuse of Social Security Fund

- Saeed Mortazavi, the former head of the Social Security Fund, has been summoned to court for the charge of "embezzlement, malversation, and illegal seizure of private property." The charges have been brought against him by a number of workers covered by the Social Security Fund. - 7/30/14

U.S. Pushes to Expedite Some Humanitarian Shipments to Iran

- Amid a diplomatic thaw earlier this year between Tehran and the West, U.S. officials had a message for European companies eager to get back into Iran: Take it slow. Today, Washington is pushing some of them to speed things up. -Wall Street Journal - 7/30/14

Stagflation plagues Iranian economy

- Iran is facing stagflation and a 20-percent decline in national revenue, according to Massoud Nili, the economic advisor to President Hassan Rohani. In an interview with ILNA, Nili said this level of stagflation is unprecedented in the post-war period, adding that in the past two years, economic growth has been negative while inflation has been consistently above 30 percent. - 7/29/14

Iran establishes largest Middle East biological refinery

- Qeshm Micro Algae Biological Refinery in southern Iran was established as the Middle East's largest biological technological company on micro algae. - 7/29/14

Iran's inflation rate much improved

- Iran's Central Bank says the country's annual inflation rate now stands at 25.4 percent. The announcement on Sunday July 27 included news that the consumer goods and services price index has gone up by 1.4 percent in Iranian cities compared to last month. - 7/28/14

Iran's pistachio exports up 94 percent

- Iran's pistachio exports totaled 168 million dollars in the first three months of Iranian calendar year (started on March 21), jumping by 94 percent comparing to similar period last year. - 7/28/14

Boeing to provide Iran Air with plane parts: Report

- Aerospace giant Boeing has reportedly signed a deal with Iran Air to provide the Iranian flag carrier airline with plane parts. A regulatory filing which was issued on Wednesday reads that Boeing will provide goods and services "related to the safety of flight" for Iran's flag carrier airline, AFP reported. - 7/25/14

Jobless rate rises in Iran even for the educated

- Iran's Centre for Statistics has announced a rise in the country's unemployment rate. ISNA reports that the statistics indicate a 0.2-percent increase in unemployment. The number of unemployed has gone from 2.4 million to more than 2.53 million, including 1.772 million men and almost 758,000 women. - 7/23/14

West Considers Early Sanctions Moves in Troubled Iran Nuclear Talks

- With talks between world powers and Iran over a broad nuclear accord at an impasse, Western governments are considering offering a significant easing of sanctions early on in the process to try to wring concessions from Tehran, diplomats say. -Reuters - 7/18/14

Iran: Rouhani administration unveils economic stimulus package

- The package, which was unveiled on Monday, highlights supporting the leading domestic economic enterprises, boosting industrial and service exports, and promoting tourism as the initial factors which can help the national economy come out of recession. - 7/16/14

Report: Iran Sanctions Cost US Economy up to $175 Billion

- U.S. sanctions on Iran have carried a significant cost to the U.S. economy, a new report published by the National Iranian American Council today finds. Losing Billions - The Cost of Iran Sanctions to the U.S. Economy reveals that between 1995 and 2012, the U.S. sacrificed at least $135 billion and as much as $175 billion in potential export revenue to Iran. - 7/15/14

Sanctions Experts Visualize Smart Sanctions Relief

- Washington, DC - With a potential Iran nuclear deal a little more than a week away, expertise on the issue of sanctions relief is in high demand on Capitol Hill. Last week, the National Iranian American Council held a briefing on the issue with three leading experts who helped Congressional staff members navigate the difficult legal terrain. - 7/14/14

Could More Iran Sanctions Roil Energy Markets?

- Could the collapse of Iran nuclear negotiations cause havoc at the gas pump this summer? While negotiators from the P5+1 and Iran are meeting this week for a final marathon session to see if a comprehensive solution can be reached as to Iran's nuclear program, a perfect storm could await world energy markets if the talks fail to produce a deal. -Wright Smith, NIAC - 7/14/14

EU lifts sanctions on 14 Iranian entities in a year

- The European Union has annulled sanctions against 14 Iranian entities since President Hassan Rouhani took office in August 2013, the IRNA news agency reported on Sunday. - 7/14/14

Jailed tycoon's debts to Iran exceed his assets

- Iranian Oil Minister Bijan Namadar says the assets of jailed tycoon Babak Zanjani will only cover 40 percent of his debts to the ministry. Zanajani was arrested six months ago for his debts to the oil ministry and the Central Bank, for forging bank documents, and for bribing the Bank of Tajikstan. - 7/12/14
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