Economy

Iran Supports Measures Aimed at Stabilizing Oil Market: Minister

Iranian Minister of Petroleum Bijan Zanganeh says the Islamic Republic supports any potential measures aimed at restoring stability to global oil markets, implying, however, that oil prices should be set at reasonable levels.

Iranian Banks to Open Branches in Munich

German media say three Iranian banks plan to open branches in Munich in the near future in what is expected to help stimulate business ties between the two countries.

Tehran, Tokyo to Enhance Economic Cooperation in Post-Sanctions Era: Diplomat

An Iranian deputy foreign minister stressed the need for closer business ties between Tehran and Tokyo, saying that the two countries have decided to boost their mutual economic cooperation following the removal of anti-Tehran sanctions.

British Airways Resumes Iran Flights

British Airways has resumed direct flights to Iran after the lifting of anti-Tehran sanctions.

Iranian Banks to Open Representative Offices in UK, Italy, Germany

Central Bank of Iran (CBI) has reported that Iranian banks are planning to establish their representative offices in three European countries of Britain, Italy and Germany.

Iran Seeking Major Financial Reforms: CBI Chief

Central Bank of Iran (CBI) Chief Valiollah Seif announced plans for a comprehensive reform of the country’s financial sector, including changes in laws and regulations of the banking sector and the Central Bank.

Will Iran Join Oil Production Freeze Initiative?

Oil prices have jumped after unconfirmed reports say Iran, which is currently producing almost 4 million barrels per day (bpd), may join a push to freeze production at current levels.

Iran to Support Investment in Nicaragua

Iranian Foreign Minister Mohammad Javad Zarif assured the country’s private sector companies that the administration will facilitate and support investment in Nicaragua.

President: Iran’s Economy on Right Track

Iranian President Hassan Rouhani highlighted the country’s economic progress during his term, saying Iran’s economy is on the right track despite a whole host of problems that have gripped oil-exporting countries.

MasterCard Dismisses Reports on Its Activity in Iran

The US-based multinational financial services corporation MasterCard has rejected the recent reports on its cooperation with Iran.

Iran to Introduce MasterCards: Minister

Iran is about to introduce credit card services processed by global payment operator MasterCard for the first time, Communications and Information Technology Minister Mahmoud Vaezi says.

13 Luxury Cars Smuggled into Iran to Be Crushed in Coming Days

An Iranian official announced that 13 luxury cars, which had been illegally smuggled into the country, will be crushed within a few days in an effort to combat smuggling.DF

Iran Expects First Wheat Export in Years

Iran is expecting a surplus of wheat this year, which it plans to release onto the regional markets, the country’s top body in charge...

Iran’s Non-Oil Exports Jump by 21% in 4 Months

Iran’s non-oil exports have witnessed a 21 percent increase during the first four months of the current Iranian year (started on March 20), Head...

Tehran Ready to Work with Baku on E-Commerce and Financial Post Services

Iran’s Minister of Communications Mahmoud Vaezi said the time is ripe for mutual cooperation between the two countries in the fields of e-commerce and financial post services.

Iran and South Korea Ink Water Treatment Deal

South Korea is about to help Iran on water supply and management and wastewater treatment under three memorandums of understanding signed in Tehran on Sunday, August 7.

Iran, Russia map out rival to Suez Canal

A major project to foster trade connectivity through a less trodden path straddling a promising market is about to feature prominently in discussions when...

No Hitch to Developing Iran-Pakistan Banking Relations: Zarif

Iranian Foreign Minister Mohammad Javad Zarif says there is no obstacle in the way of the expansion of banking relations between Iran and Pakistan.

Putin Renews Vow to Give Iran $2.5bn of Loans

Russia says it is still committed to a pledge it has already made to grant two loans worth $2.5 billion to Iran.

Iran’s Tourism Income Amounts to $1m an Hour

Within the past four months, Iran’s tourism industry has earned nearly $1m per hour thanks to the massive influx of foreign tourists in the country after the nuclear deal between Tehran and world powers, an official said.

Japan’s Investment in 3 Major Projects in Iran’s Underdeveloped Province

Japan is going to start implementing six major investment projects in Iran, three of which are in the historically-deprived province Sistan and Baluchestan in the country’s southeast, an official announced.

Iran to Build 800 Power Plants: Deputy Minister

An Iranian deputy energy minister said the country plans to develop over 800 power plant projects in the coming years.

US Allows South Korea to Do Iran Trade In Euros: Report

South Korean companies will be able to carry out business with Iran in euros as early as next month, enabling the Asian country to cash in on new opportunities from lifting of sanctions on Tehran.

Blazes in Iran’s Petchem Plants Caused by Lack of Funding for HSE: Zanganeh

Iranian Oil Minister Bijan Namdar Zanganeh said the main reason behind recent blazes at a number of petrochemical complexes in the country is the failure of some private companies to provide funding for Health, Safety and Environment (HSE) parameters.

240 Foreign Oil Tankers Berth at Iran’s Kharg Island since JCPOA Enforcement: Official

The general manager of Bushehr Province Department of Ports and Maritime Organization said some 240 foreign oil supertankers have so far docked at Iran’s southern Kharg oil terminal since the implementation of a lasting nuclear deal between Tehran and world powers.

Latest news