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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.

IFP Exclusive

Vintage Car Show Held in Iran’s Isfahan

IFP Editorial Staff -
An exhibition of vintage cars was recently held in the city of Isfahan in central Iran, attracting a huge number of visitors and tourists in a rainy weekend day.
IFP Exclusive

WIPO Registers Iranian Varieties of Tangerine, Date

IFP Editorial Staff -
The Piaram date of Hajiabad and the Siahoo tangerine of Bandar Abbas have been registered internationally by the World Intellectual Property Organization (WIPO).
IFP Exclusive

Tehran, Baghdad to Increase Bilateral Trade Value to $20bn

IFP Editorial Staff -
Iranian President Hassan Rouhani says Tehran and Baghdad are determined to raise the value of their bilateral trade to $20 billion per year, from the current $12 billion.
IFP Exclusive

Iran Says Has Changed Oil Exports Pattern to Counter US Bans

IFP Editorial Staff -
A senior lawmaker says Iran has changed the pattern of its oil exports to cope with the unjust US sanctions, which are aimed at cutting the exports down to zero.
Media Wire

Gold, Forex Rates Decrease in Iran despite US Sanctions

IFP Media Wire -
Market figures in Iran show the prices of the US dollar and gold – two key drivers of consumer prices - have been declining over the past week in what is seen as a clear defiance against earlier predictions that sanctions could trigger a price shock in the country.
IFP Exclusive

Iranian Diplomat in Italy to Pursue Efforts to Save Iran Deal

IFP Editorial Staff -
Iranian Deputy Foreign Minister Seyyed Abbas Araqchi has travelled to the Italian capital Rome to hold talks on Europe’s special payment mechanism, known as Special Purpose Vehicle (SPV), which is aimed at enabling Iran to enjoy the economic benefits of the Iran nuclear deal.
IFP Exclusive

Zarif Summoned to Parliament for Money Laundering Remarks

Alireza Hashemi -
The Iranian parliament’s National Security and Foreign Policy commission has summoned Foreign Minister Mohammad Javad Zarif to clarify his controversial remarks about “rampant” money laundering in Iran, which have drawn angry reactions from political and media circles.
Media Wire

Iran Executes ‘Sultan of Coins’ for Financial Corruption

IFP Media Wire -
Iran executed two financial criminals who had hoarded two tons of gold coins in order to agitate the country’s gold market.
Media Wire

‘Naval Forces Ready to Ensure Security of Iranian Oil Tankers’

IFP Media Wire -
A top Iranian Navy commander shrugged off US threats against the Islamic Republic and said the Armed Forces are fully ready to guarantee the security of the country’s oil tankers in international waters.
IFP Exclusive

Iranian Crude Oil Sold Out in Energy Bourse

IFP Editorial Staff -
All the 700,000 barrels of crude oil released at Iran’s energy bourse were sold out at a rate of $64.97 in the second phase of supplying the Iranian crude oil through the market.
IFP Exclusive

Zarif Rejects Concerns, Defends Iran Getting Out of FATF Blacklist

Alireza Hashemi -
Iran’s top diplomat has once again argued for Tehran’s adoption of standards set by the global anti-money laundering body, saying concerns that FATF accession harms national security interests are baseless and Iran’s failure to get itself out FATF blacklist would mean Tehran has shot itself in the leg.
Media Wire

Iran’s Chabahar Port Exempted from US Sanctions

IFP Media Wire -
The United States has approved a sanctions exemption for Iran’s southeastern port city of Chabahar, citing Afghanistan’s economy.
IFP Exclusive

Iran May Use Russia’s Sukhoi to Modernise Its Air Fleet

IFP Editorial Staff -
The chairwoman and CEO of Iran’s flagship carrier Iran Air says the company will negotiate with any supplier, including the Russian Sukhoi, that can sell aircraft and plane parts to Iran without an OFAC licence.
IFP Exclusive

Baharestan Village Hub of Grape Syrup Production in Iran

Fatemeh Askarieh -
Baharestan village in the Iranian northeastern city of Sabzevar is one of the main centres of grape syrup production. Over 30 tonnes of grape syrup are annually produced in the village in Khorasan Razavi province and exported abroad.
IFP Exclusive

Iran Legislation Watchdog Rejects CFT Bill, Returns It to Parliament

IFP Editorial Staff -
Iran’s legislation watchdog, the Guardian Council, has rejected a bill on Iran’s accession to the Combating the Financing of Terrorism (CFT) convention, which had been passed by the Parliament.
IFP Exclusive

Tehran Slams Ankara for Refusing to Refuel Iranian Aircraft

IFP Editorial Staff -
Iran’s Civil Aviation Organisation has expressed its protest at a Turkish company’s unilateral decision to refrain from providing fuel for Iranian passenger planes at Istanbul’s Ataturk International Airport.
Media Wire

Iran Starts Mass Production of Kowsar Interceptor Jet

IFP Media Wire -
Iran has launched the mass production of a fourth-generation all-indigenous interceptor jet in a major step toward the renovation of its Air Force.
IFP Exclusive

Red Tea Harvest Starts in Southern Iran

Fatemeh Askarieh -
Sour or red tea used to be an imported product introduced to Iran mainly from Saudi Arabia, but in recent years it has been cultivated in some parts of Iran.
IFP Exclusive

US to Exempt Eight Countries from Iran Oil Sanctions: Report

IFP Editorial Staff -
The US administration has reportedly agreed to allow eight countries – including Japan, India and South Korea – to keep buying crude oil from Iran after it re-imposes sanctions on the OPEC producer on Nov. 5, a senior administration official said.
IFP Exclusive

Iran FM Due in Turkey to Attend D-8 Ministerial Summit

IFP Editorial Staff -
Iranian Foreign Minister Mohammad Javad Zarif is set to leave Tehran for Turkey today to attend a ministerial meeting of the D-8 Organization for Economic Cooperation.
Media Wire

US Gives India Waiver on Oil Imports from Iran

IFP Media Wire -
Officials in New Delhi say the United States has agreed to grant India a waiver from Iran sanctions so that the country would be able to maintain imports of crude oil from the Islamic Republic.
Media Wire

Iran, India, Russia to Discuss Building Alternative to Suez Canal

IFP Media Wire -
India, Iran and Russia will meet next month to discuss the operation of a 7,200 km trade and transport corridor that presents a cheaper and shorter alternative to the traditional route through the Suez Canal.
IFP Exclusive

Iran’s Chabahar Port to Play Key Role in Future Economy of Region

Aveek Sen -
Iran, Afghanistan, and India believe the Chabahar port in south-east of Iran, which is being developed by Indian investors, will play a vital role in the future economy of region, particularly in that of the crisis-hit Afghanistan.
Americas

Five Reasons Why Trump’s Iran Sanctions Will Fail

IFP Editorial Staff -
The next round of economic sanctions on Iran, which will start going into effect on Nov. 4, will mainly target the country’s oil and gas industries. These sanctions were eased after the 2015 signing of the Joint Comprehensive Plan of Action (JCPOA), commonly known as the Iran nuclear deal, but are being phased back in following President Donald Trump’s decision to withdraw from the accord six months ago.
IFP Exclusive

Tehran Denies Reports of Selling Oil through Russia

IFP Editorial Staff -
Iran’s oil minister has denied reports that Tehran is selling its petroleum through Russia in a bid to bypass the US sanctions.
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