Kabul asks Tehran for more investment
Iran is the fourth largest investor in Afghanistan. Iranian investments have been made on construction of roads and bridges, energy, agriculture and health care. - 11/20/09
Iran falls to 168 in Corruption Perception Index 2009
Iran has fallen from 141st on the list of 180 countries to 168th – one of the most marked declines. Countries where the political and security environment is particularly volatile, such as Yemen, Iran and Iraq rank at the bottom of the list. These countries face the challenge of establishing solid and transparent public institutions, with appropriate mechanisms for accountability: the essential elements for preventing and fighting corruption. Where these are absent, any kind of success is very difficult. - 11/19/09
Iran Unveils New Plan to Counter Fuel Sanctions
According to the plan, the Iranian petrochemical plants, such as Imam Khomeini, Bou Ali Sina and Borzouyeh, are equipped to produce about 14 million liters of gasoline per day if they have to. - 11/18/09
Iranian commandos sent to arrest Somali pirates
Iran has decided to send more ships to the Gulf of Aden to protect Iranian merchant containers and oil tankers from Somali pirates in the volatile waters. A senior commander says Iranian special forces have bee sent to the Gulf of Aden to preserve shipping security and go ahead with a plan to arrest Somali pirates. - 11/16/09
Photos: Harvesting Cotton in Shams Abad, Qom
The following photos by Abolfazl Maahrokh show the harvesting of cotton in the Shams Abad region of central city of Qom in Iran. Qom lies 156 kilometers by road southwest of Tehran and is the capital of Qom Province. It has an estimated population of 1,042,309 in 2005. - 11/15/09
Iran's Economic Climate and the Post-election Political Crisis
Even before the current political crisis began in June 2009 the Iranian economy was confronted with many daunting challenges. Investors were already feeling the pressures of inconsistent domestic economic policies and intensifying international economic/financial sanctions on their shoulders. The street protests and political unrests that have followed the disputed election have led to further deterioration of the economic climate. -Nader Habibi - 11/13/09
Photos: Kermanshah Museum - 32 years in the making!
According to a report by ISNA, the construction of the biggest museum in western Iran, in the city of Kermanshah, has not been completed after about 32 years from start. According to another report by ISNA, some statistics put the number of unfinished projects across Iran at about 50,000. This is one of the biggest economic problems for the country where year after year the projects consume the funds and resources without any benefits to the people. - 11/11/09
Iran's Guards in $2.5bn rail deal
Iran's Revolutionary Guards have won a $2.5bn tender to build a railway route linking the south-eastern port of Chabahar to Iran's rail network. -BBC - 11/11/09
Iran, biggest Shariah-compliant market: The Banker
Iran is the largest market for Shariah-compliant assets, accounting for 35.6 percent of the global aggregate, The Banker magazine's "Top 500 Islamic Financial Institutions" ranking shows, reported ISNA news agency. - 11/11/09
Iran Parliament Procrastinates on Subsidy Reform
Although Iran's parliament has passed the general outlines of a massive overhaul of the country's unwieldy fuel and food subsidy system, much of the detail remains to be worked out and there are signs of wavering in the passing of the proposed legislation. -Mitra Farnik - 11/10/09
Photos: Workers at Qazvin Bazaar
These photos by Sina Shiri are snapshots from the life of some of the people working at the Bazzar in Qazvin, Iran. The livelihood of these people is dependent on a small cart that they use to carry products around the Bazaar. - 11/9/09
Sale of Telecommunication Company of Iran finalized
An Iranian consortium has signed a deal to buy 50 percent plus one of the shares of Telecommunication Company of Iran (TCI) for around eight billion dollars. - 11/9/09
Iran Khodro unveils nanotech car
Iran's first car equipped with nano technology built by Iran Khodro Industrial Group (IKCO) was showcased at nano festival from November 4 to 8. The new Samand Soren is equipped with nano technology, adding that nano composites are used in the dash board, engine parts, filters and lubrications. - 11/6/09
France Withdraws From Tehran-Caspian Freeway Project
The idea to construct the Tehran-Shomal Freeway was for the first time proposed in 1965, but was never put to action until 1996. The giant plan includes construction of more than 30 twin tunnels. The Alborz tunnel situated at an altitude of 2,450 meters will be the longest with a length of 6,300 meters. - 11/6/09
US announces sanctions on subsidiary of Iranian bank
The US Department of the Treasury today designated First East Export Bank (FEEB), a Bank Mellat subsidiary located in Malaysia, under Executive Order (E.O.) 13382 for being owned or controlled by Bank Mellat. - 11/6/09
Iran's government, parliament disagree on subsidy bill
There was a brief argument Tuesday morning on the floor of the Majlis as Speaker Ali Larijani, responding to the President's request to speak before the parliament as the government's representative, said, "The government is allowed five minutes to express its views." - 11/3/09
Iran's WTO membership
In the next general assembly meeting of the World Trade Organization on December 17, Iran's workgroup will officially be admitted in the organization and the process for accession to WTO will formally start. - 11/3/09
Iran's Economic Daily Sarmayeh banned
Another Iranian newspaper was shut down by the order of Iran’s ministry of culture. ILNA reports that Sarmayeh (Capital) daily has lost its publishing privileges after “repeated violations” of specific media regulations. - 11/2/09
Iran shuts down major economic daily
An Iranian government-run press supervisory body shut down the country's major reformist and economic newspaper, Sarmayeh, ISNA news agency reported on Monday. -AFP - 11/2/09
Uncertainties halt privatization of Telecommunications Company of Iran
Three Iranian firms, part of a consortium named Etemad Mobin Development, bought 50 percent plus one share of Telecommunication Company of Iran for US$7.8 billion on September 20, 2009. The importance of this deal is that TCI has monopoly over Iran''s fixed line infrastructure, Iran''s largest cellular operator (MCI), and Iran''s major Internet service provider and data communication operator (DCI). - 11/2/09
Iran's Poor Face a Logjam in the Labyrinths of Work
When you get lost in the commotion of the city, it is only the workers who can show you extreme pain and expose you to the unsavory smell of life. Believe me, this is true. Given the current Iranian economy, being a worker is very difficult. It permanently exposes you to the bitter taste of life. -ILNA - 11/2/09
Iran's Caspian Sea share at around 20%: Official
Tehran’s representative to Caspian Sea affairs insists that Iran’s share of the Caspian Sea stands at around 20 percent. However this does not mean that the sea is divided into five equal parts among the five Caspian Sea states, Mahdi Safari told the ISNA news agency in an interview published on Sunday. - 11/2/09
Transit of goods through Iran soars
In the first six month of the Iranian calendar year (March 22- September 22) over 3 million tons of goods worth some $11.3 billion were transited through Iran which shows a 4.5 and 19.8 percent growth in volume and value, respectively. - 11/1/09
Abandoning Tehran?: EC approves plan to relocate Iran's capital
The Expediency Council has approved a plan calling for the relocation of the Iranian capital to a new city by the end of the 20-Year Outlook Plan. The decision to relocate the country’s political center to a proper place by the end of the Outlook Plan was approved by the Expediency Council on Saturday. - 10/31/09
Senate Panel Votes To Expand Sanctions Against Iran
The U.S. Senate Banking Committee has voted Thursday to approve legislation that would impose sanctions on companies that help Iran acquire refined petroleum products. The bill aims to step up pressure on Iran to stop its uranium enrichment program. Lawmakers are targeting Iran's energy sector, and hoping that other nations will join the United States. - 10/30/09
Iran's Samand Car to Hit Swiss Market
An official with Iranian carmaker Iran Khodro Company (IKCO) stated that Samand car has passed all the necessary tests based on Euro IV standards in Switzerland and a batch of eight cars will be exported to the country. - 10/30/09
NIAC Briefing: "Will Petroleum Sanctions Help or Hurt Ahmadinejad?"
NIAC held a Capitol Hill briefing on October 27 to discuss the likely consequences of new petroleum sanctions with House and Senate lawmakers and staff. The briefing came one day before the House Foreign Affairs Committee approved legislation that attempts to impose "crippling" sanctions on Iran. - 10/29/09
Iran, Turkey Ink Gas MOU
Iran and Turkey signed a memorandum of understanding in Tehran on Wednesday to broaden ties in the field of gas industry. Iranian Oil Minister Masoud Mirkazemi and Turkish Energy and Natural Resources Minister Taner Yildiz signed the MOU, the Mehr News Agency reported. - 10/28/09
Iran: Fate of $66 Billion in Oil Revenues Unknown
While the Ahmadinejad administration is accused by the State Audit Organization to have engaged in massive financial fraud, reports surfaced yesterday in domestic media outlets indicating the size of the ninth administration's fraudulent dealings to have far exceeded what had been commonly thought until now. - 10/27/09
Iran's parliament warns against drop in oil exports
An Iranian parliamentary center has warned that Iran's oil exports may face a plunge due to depreciation of oil wells and a jump in domestic consumption. Strategic Majlis (Parliament) Research Center said in its latest report that the oil industry needs an annual $5.4 billion investment to keep the current volume of crude exports. - 10/24/09
Global Mobile-Phone Growth Remains Strong Despite Crisis
Among the world's top 20 performers were Bosnia-Herzegovina, where Internet penetration rose 21 percent from 2003-08, as well as Macedonia, Moldova, and Iran, where it rose by around one quarter. - 10/23/09
Turkey Confirms $3.5B Iran Gas Deal
Turkey plans to carry out its $3.5 billion natural gas development plans in Iran, Turkish Energy Minister Taner Yildiz said on Wednesday. "The issue would be discussed during Prime Minister Tayyip Recep Erdogan''s upcoming trip to Tehran," Reuters reported. - 10/23/09
Afghan immigrants find refuge in oil-rich Iran
As the worlds second largest oil producer, Irans economy has been cushioned by the economic downturn. Though Iran has been branded a nuclear outlaw and supporter of terrorism, to its neighbors, Iran is a model of stability. It is estimated that approximately 3 million Afghan immigrants in Iran are doing low-skill labor. -World Focus - 10/21/09
Iran's Oil Bourse Due Next Week
Iran international oil bourse will come on stream on October 26 at Kish Island, the managing director of Iran Mercantile Exchange said in Tehran on Wednesday. - 10/21/09
Iran MPs approve cutting food subsidies
Iran's Parliament has approved a proposal to gradually cut subsidies for food and transportation services, amid fears that the bill might hike up prices. According to Article Four of the bill, subsidies on food items such as wheat, rice, oil, milk and sugar as well as subsidies on postal and transportation services will be gradually cut in five years. - 10/20/09
Irans Parliament Approves Cutting Energy Subsidies
Iran's parliament has passed a bill that would cut energy subsidies to make the country less vulnerable to international sanctions over its disputed nuclear program, the official IRNA news agency reported. -Reuters - 10/19/09
Iran allocates $1.2b for heavy vehicles scrappage
12,813 heavy vehicles including 8,813 trucks, 1,500 buses and 2,500 minibuses will be replaced with new ones in the frame of a scarppage scheme by the end of the current Iranian calendar year (March 21, 2010). - 10/17/09
Ahmadinejad Faces Another Tough Sell On Subsidy Cuts
Tehran resident Laleh is closely following legislation that would sharply reduce energy and food subsidies. The source of Laleh's concern is a 17-article bill introduced last year and now winding its way through the Iranian parliament. The legislation, if implemented, would increase the prices of subsidized goods and a portion of the extra revenue would be distributed among low-income families. - 10/16/09
Shell, Total to take part in Iran's SP phases 13 & 14
Iran reached initial agreement with Royal Dutch Shell and Repsol companies for the development of South Pars gas field's phases 13 and 14, National Iranian Oil Company's director for investment affairs said here on Friday. - 10/16/09
Iran Shipping Company rejects UK claims on transfer of nuclear goods
Iran's Shipping Company rejected the UK claims that vessels of the Iranian organization have transferred illegal materials including nuclear goods. "The Iranian company's activities are completely within the international rules and regulations and it has never violated the international rules of shipping industry," the Iranian organization said. - 10/16/09
The Poverty Line in Iran. A "Hoax?"
At a recent press conference in Tehran, fraudulently elected president Mahmoud Ahmadinejad claimed that customary approaches used by economists to determine the poverty line are a "hoax" and cannot be used as a measure to prove that there is poverty in Iran. Existing facts, however, contradict Ahmadinejad's statement. - 10/14/09
US House Debates Iran Divestment Measure
The U.S. House of Representatives on Tuesday debated legislation that would make it easier for U.S. states and local governments and pension funds to end investments in companies helping Iran's energy sector. A vote on the Iran Sanctions Enabling Act is expected later this week. - 10/13/09
Britain orders trade halt with two Iranian firms
Britain has ordered financial companies to stop trade with two Iranian firms, Bank Mellat and the Islamic Republic of Iran Shipping Lines, amid alleged nuclear links, a minister said Monday -AFP - 10/12/09
Photos: Iranian Homeless Family Erect "Home" in a Tehran Street
Following photos show a family of four in Tehran that, due to unemployment and financial problems and loss of their home, have moved all their belongings to the side of a street in Tehran and created a new "home" there. The family consists of the parents, a 12-year-old girl and a 21-year-old young man. -Photos by Youness Khani, Mehr - 10/9/09
1700 Iranian workers on hunger strike over unpaid wages
1700 employees of Wagon Pars Company in Arak have gone on a hunger strike to protest the company's failure to pay their wages and pension. ILNA's Kar news agency reports that this is the ninth protest organized by the employees this year. - 10/9/09
Iran Plans To Cut Subsidised Gasoline Quota
Iran plans to nearly halve the amount of gasoline that motorists can buy at a heavily subsidised price, state television reported on October 8, in what could be a politically controversial proposal. -Reuters - 10/9/09
The demise of the dollar
In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading -Independent - 10/8/09
Iran: Tainted rice imports issue simmers, MPs call for new probe
The dispute over the quality of imported rice arose after reports that Iran had detected high levels of arsenic, cadmium, and lead in the rice imported from India over the past few weeks. A number of officials from Iran's standards institute announced that the rice is really contaminated and that the rice contains unacceptable levels of arsenic, cadmium, and mercury. - 10/5/09
Photos: Harvesting Lime in Roudan, Hormozgan province of Iran
Following photos shows people in the town of Roudan in Iran's southern province of Hormozgan province harvesting limes. Lime is a term referring to a number of different fruits (generally citruses), both species and hybrids, which have their origin in the Himalayan region of India, and which are typically round, green to yellow in color -Photos by Hossein Heydari, ISNA - 9/30/09
Iran's foreign debt to decrease $2.4b in 2009: Economist
ISNA news agency quoted the report stating that Iran's foreign debts last year amounted to be $21.1 billion which would be reduced to $18.7 billion, some 5.2 percent of the country''s gross domestic production. - 9/30/09
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