News List
OECD raises global GDP forecast slightly for 2024
The Organization for Economic Co-Operation and Development (OECD) has increased its expectation for the global economic growth from 3.1% to 3.2% on Wednesday. Releasing its Economic Outlook’s Interim Report, the OECD said global output growth has remained resilient and inflation has continued to moderate. It said: “Growth has been relatively robust in many G20…
1st geothermal power plant in WA to come on stream in Iran
The first geothermal power plant of West Asia, with a production capacity of 5-megawatt electricity, will come on stream in Meshginshahr, Ardabil province by the current Iranian calendar year (to end March 20, 2025). Deputy Head of Iran’s Thermal Power Plants Holding Company (TPPH) Mehran Golabkesh stated that this project is under construction as…
Copper price surpasses $10,000 on new China stimulus for real estate
The copper price rose above $10,000 a tonne on Thursday on the back of new China stimulus measures for the real estate market. Copper for December delivery increased by 3.4% from Wednesday’s settlement, reaching $4.64 per pound ($10,208 per tonne) in early morning trade on the Comex in New York. The official Xinhua News…
Iran’s non-oil export to neighbors up 12% in 6 months on year
The value of Iran’s non-oil export to its 15 neighboring countries increased by 12 percent during the first six months of the current Iranian calendar year (March 20-September 21), compared to the same period in the past year, the head of the Islamic Republic of Iran Customs Administration (IRICA) announced. Mohammad Rezvanifar said the…
Iran gains self-sufficiency in building steel constructs
Iran has become self-sufficient in producing steel constructs. Until 25 years ago, Iran had to to import steel constructs required to develop its refineries and petrochemical complexes from foreign countries. Even China intended to run steel constructs firms in Iran, however, the products required for both land and sea are now built locally. Metal…
DRI production in India has grown by 8% over the past 5 years
Production increased from 34.7 million tons to 51.5 million tons. At the same time, by 2030, this indicator is likely to exceed 75 million tons Over the past 5 years, India has increased its direct reduced iron (DRI) production by 8%, from 34.7 million tons in FY 2018/2019 to 51.5 million tons in FY…
Commodities Flying/ China’s Economy on the Path of Change
The global market and the Chinese stock exchange reacted very positively to this news, and all commodities increased sharply. This morning, President Xi held a very important and high-level economic meeting.In this meeting, he stated about China’s weak economic conditions and continued: “China’s economic situation will be corrected and action would be taken in…
Ghaenat steel complex / carring out the first successfully melting operation
With the efforts of experts and specialists of Ghaenat Steel Complex, the first melting operation in this complex was successfully carried out. According to the public relations of the Ghaenat Steel Complex, the melting operation was carried out in the arc furnace of this complex without any presence of foreign experts and relying only…
The 2nd Indust Solar Iran Conference will be held
The second conference of Indust Solar Iran will be held on Tuesday, September 25, 2024 at the Parsian Evin Hotel in Tehran, with the presence of the country’s industries, including oil, gas, petrochemicals, steel, cement and other industries of the country. According to Chilan, the teaser of the Indie Solar Iran Conference was unveiled,…
Value of Iran’s e-commerce trade triples in 2 years
The value of Iran’s e-commerce transactions has tripled over the past two years, according to the head of Iran’s E-Commerce Development Center. Amin Kolahdouzan said the value of e-commerce transactions in the country surpassed 32 trillion rials (about $60 million) in the previous Iranian calendar year which indicates a giant leap in this sector,…
