Economy

Iran Signs Biggest LC Deal with South Korea to Receive €8bn Loan

Iranian media on Saturday celebrated the country’s biggest credit line deal in recent years with South Korea’s Eximbank, saying it marked a new opening in attracting foreign investment.

Iran Exporting Electricity to Eight Countries: Report

Iran is one of the energy hubs in the region, exporting electricity to eight countries including Iraq, Turkey, and Afghanistan.

Iran to Establish Joint Chambers of Commerce with Italy, Switzerland, Tajikistan

A top Iranian trade official has said the ground has been prepared for setting up joint chambers of commerce between Iran and three other Asian and European countries.

Oil Extraction in Front of Customers: New Lucrative Business in Iran

Extracting vegetable oil in front of customers has turned into a booming business in recent years in Iran as it is profitable and does not need much investment.

Iran’s Annual Handicrafts Exports Stand at $250m

A top Iranian official says the Islamic Republic exports $250 million worth of handicrafts each year.

Ukraine Bridge for Export of Iran’s Petchem Products

A senior Iranian official says Ukraine can act as a conduit for expansion of Iran's petrochemical exports to other countries in the world, particularly those in Europe.

Mongolia Raps US Bans on Iran, Russia, N. Korea

A Mongolian official has denounced the recent sanctions imposed by the United States on Iran, Russia and North Korea.

Iran, India to Trade Goods on Mercantile Exchanges

Iran and India have clinched an agreement to trade a range of goods, tar in particular, on the mercantile exchanges of both countries.

Iran, China to Promote Banking Cooperation

Iranian and Chinese officials have called for expanding cooperation between the two sides’ banks in different fields.

Int’l Machine-Made Carpet Exhibition Held in Tehran

The sixth edition of International Floor Covering, Moquette, Machine-made Carpet, and Related Industries exhibition was recently wrapped up in the Iranian capital of Tehran.

Belarus to Promote Banking Relations with Iran

Mikhail Myasnikovich, the speaker of the Belarusian Parliament’s upper house, has underlined the need to remove the existing barriers to expansion of banking relations with Iran.

Structural Changes in Iran Foreign Ministry; Speculations, Implications

A few days after President Hassan Rouhani’s second term officially began, media reports are saying the Iranian foreign ministry will undergo major structural changes in Rouhani’s new administration, mainly with the aim of strengthening its role in Iran’s economic diplomacy.

Iran, Qatar, Turkey Hold Talks on Joint Transit Route

Officials from Iran, Turkey and Qatar discussed the creation of a joint trade route on the sidelines of President Hassan Rouhani’s swearing-in ceremony in Tehran.

Iran Safe Place for Investment: Top Austrian MP

Karlheinz Kopf, the second president of the Austrian National Council, says the Islamic Republic of Iran is a stable country and safe for foreign investment.

Iran, S. Korea Hold Joint Seminar on Intellectual Property

Iran and South Korea as two close economic partners have held a joint seminar on intellectual property in the Iranian capital, Tehran.

Iran, Saudi Arabia Trade Volume Stands at Zero: Official

An Iranian official says the trade volume between Iran and Saudi Arabia stands at zero and the two sides have no economic relations with each other.

Iran Gas Deal with Total Continues to Stir Controversy

The $4.8bn gas deal between Iran and a consortium led by the French energy giant Total over the development of Iran’s South Pars Gas Field has remained a top story in the Iranian media ten days after the signing ceremony.

Iran, Turkey Can Boost Trade Value to $50bn

Iran’s ICT Minister and Chairman of Iran's joint economic commission with Turkey says Tehran and Ankara have the potential to increase the value of their bilateral trade to $50 billion per year.

Iran’s Larijani Calls for Investment in Caspian Sea Oil Extraction

Iran’s Parliament Speaker says there must be no restriction on making investment in extraction of oil from the Caspian Sea.

Iran Sells First Homegrown Catamaran Ship to Turkey

Iran has sold its first domestically-made catamaran ship to neighboring Turkey, the managing director of the Arvandan Shipbuilding Company, the manufacturer of the vessel, announced.

US Losing Iran’s Energy Market to European Firms

While the French oil giant Total just signed a huge gas deal with Iran, American companies are deprived of Iran’s lucrative oil and gas market due to the restrictions imposed by the US administration.

FM Zarif Holds Talks with French Senate President

Iran’s Foreign Minister Mohammad Javad Zarif on Thursday met the President of the French Senate Gerard Larcher during his visit to Paris, the third leg of his European tour.

“Iran Successful in Seizing Contraband Goods”

A report says Iran’s Customs Office has been very successful in seizing contraband commodities and illicit drugs.

Tehran, Seoul Keen to Expand Business Ties: Larijani

Iran’s Parliament speaker says the Islamic Republic and South Korea have great potentials for investment and job creation, and both are interested in expanding their trade cooperation.

Iran Urges Eurasian States to Boost Economic Ties

Iran’s parliament speaker has called on Eurasian countries to work towards enhancing their economic cooperation.

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