Iran-Singapore Commercial Committee was officially established on Wednesday, the deputy head of Iran Chamber of Commerce, Industries, Mines and Agriculture for international affairs said.
“Our plan for ICCIMA's International Department is to expand activities and attract enough members over the next six months for the committee to turn into an Iran-Singapore chamber of commerce,” Mohammad Reza Karbasi was also quoted as saying by ICCIMA's news portal.
Based on the latest report by Trade Promotion Organization, Iran exported close to $40 million worth of commodities to Singapore during the first 10 months of the current Iranian year (March 21, 2018-Jan. 20), and imported goods worth $762 million in return.
The Iranian Mines and Mining Industries Development and Renovation Organization is pursuing plans to expand mineral explorations to cover 300,000 square kilometers by the end of the second term of President Hassan Rouhani (August 2021), says deputy minister of industries, mining and trade.
Director General of Mineral Industries Office of the Ministry of Industry, Mining and Trade Seifollah Amiri said over 6500 stone processing units are currently active across the country, 500 of which are exporting to global markets.
Rebar demand in Indian domestic market continues to slow down amid less buying inquires across major markets and poor lifting. This urged industrialists to adjust the price range as per market requirement and offers have reduced by INR 400-600/MT (USD 6-9) in a week's duration.
All ministries, governmental organizations and agencies are required to consult Iran Chamber of Commerce, Industries, Mines and Agriculture as well as Iran Chamber of Cooperatives and other non-governmental economic entities in drafting or reviewing bylaws and administrative procedures related to business environment.
Mitsubishi Heavy Industries (MHI) and Primetals Technologies will acquire ABP Induction Systems (ABP), a global manufacturer and servicer of induction furnaces and heating systems from CM Acquisitions, a Chicago based private equity firm.
Shares in Fresnillo (LON:FRS), the world’s largest silver miner, dropped by almost 5% to the bottom of the FTSE 100 after it cut its annual production targets, citing lower-than-expected ore grades and construction delays at its gold mines in Mexico.