Economy

War on Iran fuels inflation shock, slows European growth as ECB raises rates

TEHRAN- The economic consequences of the ongoing U.S.-Israel conflict with Iran are spreading far beyond the West Asia, triggering inflationary pressures, weakening growth prospects, and forcing central banks to take defensive measures.
Iran, Russia to cooperate in implementing BRICS grain exchange

TEHRAN- Iranian Minister of Agriculture, referring to the necessity of developing cooperation in maritime transport and utilizing the port capacities of Iran and Russia, said: "Implementing the 'BRICS Grain Exchange' requires the support and backing of Russia as a BRICS member country, neighbor, and strategic partner."
New well of South Pars phase 11 enters production cycle

TEHRAN- The CEO of Pars Oil and Gas Company announced the entry of the eleventh well of platform B of phase 11 of South Pars gas field (SPD11B) into the production cycle.

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Rise in an era of global contraction

How did the driving force of Iran’s steel industry manage to reach 43rd place globally by turning geopolitical crises into a technological advantage?

While the global steel industry in 2025 was grappling with a 2 percent decline in production and a broad-based downturn, the industrial giants of the Middle East chose a different path. The World Steel Association’s 2026 report carries a clear message for international markets: Mobarakeh Steel not only preserved its position in these turbulent conditions, but by rising to 43rd place among the world’s top producers, it has also become a symbol of industrial resilience.
About 38% of petrochemical capacity returned to production cycle

TEHRAN- The Deputy Oil Minister and Managing Director of the National Petrochemical Company, announcing that through efforts made, about 38 percent of the petrochemical industry capacity that had been lost or affected has returned to production, said: Today, the market for polymer and plastic products has reached relative stability, and even for some products, in the current situation, production exceeds domestic demand.
New well of South Pars phase 11 enters production cycle

TEHRAN- The CEO of Pars Oil and Gas Company announced the entry of the eleventh well of platform B of phase 11 of South Pars gas field (SPD11B) into the production cycle.
Iran, Russia to cooperate in implementing BRICS grain exchange

TEHRAN- Iranian Minister of Agriculture, referring to the necessity of developing cooperation in maritime transport and utilizing the port capacities of Iran and Russia, said: "Implementing the 'BRICS Grain Exchange' requires the support and backing of Russia as a BRICS member country, neighbor, and strategic partner."
War on Iran fuels inflation shock, slows European growth as ECB raises rates

TEHRAN- The economic consequences of the ongoing U.S.-Israel conflict with Iran are spreading far beyond the West Asia, triggering inflationary pressures, weakening growth prospects, and forcing central banks to take defensive measures.
Development of land corridors a government priority

TEHRAN- Developments in recent months in the field of transportation and foreign trade, especially following disruptions in regional maritime routes, have turned policymakers' attention more than ever to the capacities of land borders and trade corridors.
‘Iran's presence in BRICS an opportunity to enhance urban diplomacy, develop urban regeneration’

TEHRAN- The Managing Director of Iran's Urban Regeneration Company, explaining the goals and dimensions of the Islamic Republic of Iran's presence at the BRICS summit, described this presence as a strategic opportunity to strengthen urban diplomacy, develop international cooperation in the field of urban regeneration, transfer experience, attract innovative ideas, and enhance Iran's position in emerging global equations.
Iran-India agricultural cooperation should expand to a strategic level: Iranian minister

TEHRAN- Iran's Minister of Agriculture, referring to India's achievements in meeting the food needs of its population of over one billion people, praised India's successful experiences in agriculture and rural development, and called for expanding joint cooperation between the two countries in agricultural research, water resource management, modern technologies, mechanization, seed production, food industries, and agricultural trade.
Iran starts LPG exports from Khorramshahr Port to Afghanistan, Pakistan

TEHRAN- The Director General of Khorramshahr Port and Maritime Department announced the successful completion of the first liquefied petroleum gas (LPG) export operation via combined transport to destinations in Afghanistan and Pakistan.
Over 100 fishery projects to be inaugurated during Agriculture Week

TEHRAN- The head of Iran's Fisheries Organization said: Simultaneously with Agriculture Week, 105 fisheries projects in 19 provinces will be put into operation with the aim of strengthening food security and creating direct and indirect employment for more than 48,000 people.