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Business

Latest Business News in Iran – News and reports about all things to do with commerce, trade, banking and industry in Iran and the world. Covering ongoing developments, market news, contracts, joint ventures, trade delegations, chambers of commerce, manufacturing, labour news and resource management.

Europe

Tehran and Kiev Want Closer Trade Links

IFP Media Wire -
Deputy Industry Minister, at a meeting with Ukraine’s ambassador to Iran, called for an expansion of trade exchange between Tehran and Kiev.
Media Wire

Iran’s LPG Exports Soar

IFP Media Wire -
An official has announced that exports volume of Iranian Liquefied Petroleum Gas (LPG) hit 80,000 tons in the first two months of the current Iranian year (began March 20).
Europe

Iran Settles €500m Debt to Germany’s Hermes Firm: Envoy

IFP Media Wire -
Iranian Ambassador to Berlin Ali Majedi said the Islamic Republic has cleared its debt to Germany’s Hermes insurance company.
Selected

Iran Registers Original Pomegranates, Dates, and Carpets at WIPO

Golrokh Askarieh -
Iran has registered a number of its strategic domestic products at the World Intellectual Property Organization (WIPO).
Media Wire

Iran-EU Banking Issues Resolved in Mining Sector

IFP Media Wire -
The Deputy Industry Minister announced that Iran’s banking issues with European countries have been fully resolved in terms of financing Iranian mining projects.
Media Wire

Iranian Firm Building First Catamaran Passenger Ship

IFP Media Wire -
An Iranian company has begun to manufacture the country’s first catamaran passenger ferry with a capacity to carry scores of people.
Media Wire

Iran Refinery Output at 1.83mbd

IFP Media Wire -
Iranian refiners produced 1.83 million barrels per day of refinery items in the current Iranian calendar year which began on March 20, a senior refinery official said.
Media Wire

Petroleum Minister: Iran to Increase Oil Supply Despite Low Prices

IFP Media Wire -
Iran’s Petroleum Minister Bijan Namdar Zangeneh has reiterated Tehran’s determination to increase oil production even in the face of a downward spiral of global crude prices.
Media Wire

Direct Flights Launched between Tehran and Astrakhan

IFP Media Wire -
Direct flights between the Iranian capital of Tehran and the Russian port city of Astrakhan have recently been inaugurated, Head of the Trade Promotion Organization of Iran (TPO) Valiollah Afkhami Rad said.
Media Wire

Iran and Boeing Seal Deal for 100 Planes

IFP Media Wire -
Iran’s aviation authority has announced the conclusion of an agreement with the US aerospace giant Boeing, for the purchase of 100 passenger planes to renew the country’s ageing fleet.
Media Wire

New Iranian Oil Export Hub Comes Onstream

IFP Media Wire -
Farasakou Port, a new hub for exporting Iranian oil products, was put into operation as part of the Pars Special Economic Energy Zone (PSEEZ) on June 18.
Local

Resistance Economy Uplifts National Dignity: Ayatollah Khamenei

IFP Media Wire -
Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei says the proper implementation of resistance economy can provide for the needs of Iran as well as promote its dignity.
Media Wire

$2.5bn Foreign Direct Investment in Iran in Last Month

IFP Media Wire -
An official said foreigners have made $2.5 billion of Foreign Direct Investment (FDI) in Iran in the current Iranian month (started May 21).
Selected

EU Removes Iran Air from Safety Blacklist

IFP Editorial Staff -
The European Commission announced on Thursday that the Iranian flag carrier Iran Air has been taken off a safety blacklist and has thus been cleared to fly in the European Union.
Energy

Tehran and Moscow to Commence Major Energy Projects: Russian Minister

IFP Media Wire -
Russian Energy Minister Alexander Novak said Tehran and Moscow will soon implement a series of major economic and energy projects worth $40 billion.
Media Wire

2 US Congressmen Oppose Boeing Iran Sale

IFP Media Wire -
Two senior Republican House of Representatives lawmakers expressed concerns over Boeing’s reported plans to sell aircraft and associated parts to Iran following a lasting nuclear deal between Tehran and world powers.
Media Wire

Tehran and Tokyo Sign New Water Agreement

IFP Media Wire -
Iran and Japan have signed a cooperation document on capacity development for the integrated management of water resources.
Media Wire

Iran Producing Precision Farm Machinery

IFP Media Wire -
After unveiling a ditcher machine and a laser scraper made by one of the knowledge-based companies in Dezful, Iran joined the list of countries producing precision-guided laser and satellite farm machinery.
Media Wire

Eurasian Economic Commission: Talks on Free Trade Zone with Iran to be Held in Late June

IFP Media Wire -
The talks on the creation of a temporary free trade zone between the Eurasian Economic Union (EAEU) and Iran will be held in late June, the Eurasian Economic Commission (EEC) Trade Minister Veronika Nikishina said at the St. Petersburg International Economic Forum (SPIEF-2016) on Friday June 17, Tass reported.
Media Wire

Iran to Export 1st Phase 19 Condensate Consignment Soon

IFP Media Wire -
Operator of phase 19 development project of the supergiant South Pars Gas Field said the phase's first gas condensate cargo will be exported within the next few weeks.
Media Wire

Italy Eager to Boost Economic Ties with Iran

IFP Media Wire -
Entrepreneurs, market experts, banking and industry representatives in the Italian northern province of Emilia-Romagna have voiced their willingness to launch joint investments with Iran.
Media Wire

Dust Storm Suspends Flights at Abadan Airport

IFP Media Wire -
Dust coming from deserts in Iraq and Syria disturbed daily life in western and southwestern parts of Iran, cancelling flights at Abadan's international airport.
Media Wire

Envoy Urges Boost to Iran-Russia Trade

IFP Media Wire -
Iran’s ambassador to Moscow called for efforts to enhance economic relations with Russia proportional to their political interaction.
Media Wire

Iran Says Boeing Deal “Biggest Ever” with US

IFP Media Wire -
Iran’s Deputy Minister of Roads and Urban Development Asghar Fakhrieh Kashan says the upcoming plane purchase deal with the United States will be the biggest civil trade agreement between the two countries in decades.
Industry

World’s Best Turquoise Extracted by Villagers: Dynamite, Cancer, and Money!

IFP Editorial Staff -
“The people of this village make huge money by extracting turquoise.” This is what many people in Nishapur say about the residents of Ma’dan village, who have leased the turquoise mine from the government for a 25-year period, and are extracting the precious stone themselves.
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