Economy

Iran about to Lose Russia’s Food Market

Iran risks losing Russia’s food market which was hit hard after the EU imposed sanctions on Moscow following Russia’s annexation of Crimea and the ensuing conflict between Kiev troops and pro-Russia forces.

Malaysian Minister to Visit Iran on Sunday

Malaysian Minister of Plantation Industries and Commodities Mah Siew Keong will arrive in Tehran on Sunday at the head of a 25-member delegation to explore avenues of expanding bilateral ties with high-ranking Iranian officials.

Iran Exporting Chewing Gum to Italy, Sweden, Australia

Iran has exported well over 1,500 tonnes of chewing gum to several countries in the world in the nine months to December 2016.

Iran-France Political Challenges Should Not Influence Economic Ties

As French Foreign Minister Jean-Marc Ayrault was in Tehran for high-level political and economic talks, Iran’s foreign ministry spokesman in an article urged the two countries to minimise the impact of political challenges on their bilateral economic relations.

Iran’s Parliament Supports Domestic Video Games Production

By charging higher taxes on import of computer games to Iran, $3.1 billion would be allocated to game production in Iran this year, an Iranian MP says.

Iranian President Opens Mideast’s Largest Grain Refinery

In a Tuesday visit to Alborz Province, President Hassan Rouhani inaugurated ‘Zar Grain Refinery’ as the largest of its kind in the Middles East and the first one in Iran.

Another Airbus Plane Painted in Iran Air’s Livery

Iran Air has published the image of an Airbus A330, which is said to be parked in France’s Chateauroux-Centre “Marcel Dassault” Airport and painted in the flag carrier’s livery.

Iran’s Annual Steel Output to Exceed 18 Million Tons

The CEO of Iran’s Isfahan Mobarakeh Steel Company predicted that the country’s annual steel output will rise to more than 18 million tons by March.

Iran’s FM Zarif Says He’s Proud of Nuclear Deal

Iranian Foreign Minister Mohammad Javad Zarif on Tuesday dismissed the allegations that he is ashamed of the nuclear deal between Iran and world powers, saying he is actually proud of it.

$340m Allocated to Tourism Development in Iran

An Iranian tourism official announced that facilities as much as $340 million will be allocated to the private sector’s investment in tourism.

Real-State Deals to Be Made Online in Iran

In a decade, the majority of Iranian real-estate deals will take place through the Internet, the head of Tehran Association of Realtors said.

Iran Awards National Medal to Top Entrepreneurs

In a ceremony attended by Iran’s First Vice-President, 23 individuals were awarded the “Amin al-Zarb” badge of entrepreneurship for their distinguished role in fostering economic empowerment.

59% Increase in Iran’s Handicraft Exports

Iran’s handicraft exports during the past three years show a nearly 60% increase, an Iranian official announced.

Iran Hopes Its National Medal Would Become as Valuable as Economic Nobel Prize

Plans are underway to raise the value of the national ‘Amin al-Zarb’ medal to the level of Nobel Memorial Prize in Economic Sciences, said a senior Iranian trade official.

Iran’s Economic Growth Has No Parallel in Middle East: Rouhani

President Hassan Rouhani says Iran's economic growth currently stands at 7.4 percent, and this has no parallel in the region.

$11.3bn Foreign Investment Made in Iran after JCPOA

An Iranian Minister says Iran has attracted $11.3 billion of international investment after the nuclear deal between Tehran and world powers.

French FM to Attend Economic Meeting in Tehran

French Foreign Minister Jean-Marc Ayrault will pay an official visit to Iran later this month to attend an economic meeting in Tehran.

Prerequisites of Attracting Foreign Investment to Iran’s Mining Industry

An Iranian official says besides international conferences, Iran’s mining sector needs to work on its imperfect infrastructure and data systems to attract international investors.

29 Int’l Firms Can Bid for Iran’s Oil and Gas Projects

Iran’s oil ministry has certified 29 international companies to bid for oil and gas projects in the country under its new format of oil contracts, a report said.

World Bank Says Iran’s Foreign Debts Have Decreased by 64%

The World Bank says Iran’s foreign debts have significantly dropped since 2011 when the country faced a series of US-led sanctions.

Iran Slams Turkmenistan for Going Back on Its Word and Cutting Gas Supply

An Iranian energy official denounced Turkmenistan for going back on its word and cutting off gas supplies to Iran abruptly, saying, however, that Iran’s ability to feed the countrywide gas grid remains unaffected by such “immoral” measure by the Ashgabat government.

South Korea’s Daewoo Wins Deal to Build Shipyard in Iran

South Korea’s Daewoo Shipbuilding and Marine Engineering Company (DSME) – the world’s second biggest shipbuilding companies – has announced a major deal to develop a construction yard in Iran.

Swedish PM to Visit Iran Heading an Economic Delegation

Prime Minister of Sweden Stefan Löfven is scheduled to visit Tehran in February 2017 heading a high-ranking economic delegation, the country’s envoy to Iran announced.

Economic Analyst Explains Why Iran Didn’t Turn into a Second Venezuela

An Iranian analyst has explained why Iran’s economy found its way to growth during the past years while the Venezuelan economy ended in meltdown in spite of having better economic conditions.

Increasing Dollar Rates in Iran Provoke Criticism

The runaway dollar has sparked serious concerns in Iran over what many believe could eventually prove costly for a country which has been planning for months to reap the benefits of the removal of the sanctions.

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