manufacture in the East

Oil market braces for prolonged downturn

Oil market braces for prolonged downturn

The global oil market is poised to enter a prolonged downturn in crude prices, potentially lasting several years. The world's largest oil companies, including BP, Chevron, ExxonMobil, Shell, and TotalEnergies, are taking …

Russian company to build $100 mln plant in Uzbekistan

Russian company to build $100 mln plant in Uzbekistan

Russia's Arnest Packaging Solutions, a division of Arnest Group, has signed an investment agreement with Uzbekistan to build a plant to manufacture aluminum beverage cans. Investment in the project will total about $100 million. The …

Israel strikes Iran's car manufacturing plant in Syria

Israel strikes Iran's car manufacturing plant in Syria

Israeli airstrikes targeted several locations across Syria after midnight Thursday, injuring at least one person and causing significant material damage, according to Syrian state television. The primary strike targeted a car …

Iran presents automotive innovations at exhibition in Moscow

Iran presents automotive innovations at exhibition in Moscow

The International MIMS Automobility Moscow 2024 event has kicked off in the Russian capital with the third consecutive year of participation by Iranian automobile companies. The exhibition was opened at the Expo Center in …

Kazakhstan's first tire plant openы in Saran

Kazakhstan's first tire plant openы in Saran

Russia's Tatneft has begun mass production of tires at a recently built tire plant in Saran, Kazakhstan under the Attar brand, head of the Russian oil company's tire division Andrei Pantyukhov said. "In June …

Türkiye to boost high tech aspirations

Türkiye to boost high tech aspirations

Türkiye is gearing up to introduce a new investment program targeting its aspirations of making the country a global hub in emerging technology fields. The "HIT-30: High Technology Investment Program" will be introduced …

Iran increasing fishery export

Iran increasing fishery export

Director general of the Iranian Ministry of Agriculture’s Office of Quality Improvement, Processing, and Aquatic Market Abbas Mokhtari said the value of Iran’s fishery export increased by over 30% during the first quarter of the …

Copper cluster to be established in eastern Kazakhstan

Copper cluster to be established in eastern Kazakhstan

The agreement on the construction of a smelter with a capacity of 300 thousand tonnes of copper per year was signed between Kazakhstan and China. The plant will be built near the village of Aktogay in the Abay region. The source of …

Türkiye starts mass production of Altay tank

Türkiye starts mass production of Altay tank

Türkiye has started mass production of the country's first domestically made main battle tank Altay, head of the Presidency of Defense Industries Haluk Görgün said. "We have started the …

Iran’s trade with OIC member states hits $61 billion

Iran’s trade with OIC member states hits $61 billion

The value of the trade exchanges between Iran and the Organization of Islamic Conference member states reached $61 billion in the past Iranian year. Head of the Iran Customs Administration (IRICA)  Mohammad Rezvanifar put the …

Azerbaijan and Türkiye intend to expand defense cooperation

Azerbaijan and Türkiye intend to expand defense cooperation

The Turkish delegation led by President of Secretariat of Defense Industries under the Presidency of Türkiye Haluk Gorgun held meetings with the Azerbaijani Minister of Defense and the Azerbaijani President in Baku on April …

Iran overtakes Russia in car production

Iran overtakes Russia in car production

Iran's car output reached 1.188 million units in 2023 and took 16th place in the world car production, the International Organization of Motor Vehicle Manufacturers (OICA) reported. According to the OICA, car production in …