Economy

Iran’s Bank Sepah reconnected to SWIFT

Iran’s Bank Sepah announced on Tuesday that it has been reconnected to SWIFT international banking services system after almost a decade.

Iran Signs Deal with Turkey to Smooth Financial Transactions

The Chief Executive Officer (CEO) of Iyzico, an Istanbul-based payments startup, said the company has signed a deal with an Iranian firm, which would...

German banks ready to inaugurate branch offices in Iran

German Bavaria's Minister for Economic Affairs Ilse Aigner said on Tuesday that German banks are ready to open branch offices in Iran.

Russia can supply 100 Sukhoi superjet to Iran — manufacturer

Russia could supply about 100 short-haul passenger aircraft Sukhoi Superjet 100 to Iran, Vice-President of the United Aircraft Corporation (UAC) Vladislav Masalov said Tuesday at the Singapore Airshow 2016.

Iran voices disinterest in oil majors’ deal

Iran on Tuesday expressed disinterest in a reported deal by its heavyweight rivals to freeze output so that the market reaches a stability that has already proved elusive for months now.

Iran’s VP Urges Inseparable Links with World Economy

Iranian First Vice-President Eshaq Jahangiri insisted that Tehran should develop such close ties with the global economy that any decision to isolate Iran would prove costly and impracticable.

‘Japanese banks eyeing foothold in Iran’

A senior Japanese official has called for more opportunities for his country’s banks to increase their cooperation with Iranian financial institutes.

CBI starts implementing SWIFT in banking transactions

Iran has started implementing SWIFT codes in its banking transactions since yesterday, a senior official said.

Minister says banking facilities to pave way for boosting economic ties with Ghana

Iran’s Minister of Industries, Mines and Trade Mohammad Reza Nematzadeh said providing banking facilities could be the first step towards boosting economic relations between Iran and Ghana.

Iran, Ghana economic, trade commission meets in Tehran

Iran and Ghana economic and trade commission held a meeting here on Monday morning.

South Korea triples Iran crude imports

South Korea tripled its imports of Iranian crude oil in January from a year before, says a new report, coming a day after the Islamic Republic exported its first crude shipments to Europe.

Iran Accomplishing Oil Export Objectives

Since the termination of anti-Iran sanctions in January, the country has succeeded in increasing its crude exports by 400,000 barrels per day, getting closer to the intended selling 2 million bpd of oil, a top official announced.

Iran’s oil production increases 400,000 pbd

Deputy Oil Minister Rokneddin Javadi said on Sunday that production of Iran's crude oil increased 400,000 barrel each day and the figure is expected to increase by another 200,000 barrels.

Iran to create first carpet village

Chaleshtar in the central district of Shahrekord, the provincial capital of Chaharmahal-Bakhtiari, is going to be home to Iran's first carpet village, says the head of Carpet Department at the provincial Industries, Mines and Commerce Organization.

Iran trade delegation off to Germany

A 60-member trade delegation from Tehran Chamber of Commerce is to travel to Germany today.

$3m toys imported to Iran monthly

The secretary of Iranian Supervisory Council for Toys said that $3 million toys are imported to Iran every month meaning that 90% of Iranian market is related to foreign toys.

CBI’s 55th annual general assembly convenes

The 55th annual general assembly of Central Bank of Iran (CBI) was attended by President Hassan Rouhani and bank officials on Saturday.

Iran, Japan hold 11th meeting on human rights issues

Iran and Japan held their 11th meeting to discuss human rights issues here on Saturday.

Rouhani: Iranian banks main targets of sanctions

President Hassan Rouhani said Iranian banks were the main targets of sanctions imposed against the country in the past few years.

Iran oil exports to hit 1.5 mb/d in March

Iran’s first vice president says the country’s oil exports will reach 1.5 million barrels per day (mb/d) next month as Tehran moves to benefit from sanctions relief.

Seoul to finance South Korean firms’ projects in Iran

The South Korean government has promised to provide financial support to companies willing to invest in Iran which is emerging from isolation.

Road to Iran’s Market Full of Potholes for France’s Peugeot

The French auto manufacturing company PSA Peugeot Citroen started its negotiations with the Iranian side a few months before Iran and the Group 5+1...

Iran needs $200bn oil investments

Iran said on Tuesday that it needs as much as $200 billion in investments to revamp its oil industry.

Iran, Italy to ink cooperation agreements today

Minister of Agricultural Jihad Mahmoud Hojjati said here on Tuesday that Iran and Italy are set to ink three cooperation agreements today.

Iran currently exporting 300,000 bpd of oil to Europe: Zangeneh

Iran's Oil Minister Bijan Zangeneh says the country is currently exporting 300,000 barrels per day of crude oil to European countries and the figure will rise when new contracts are signed with European oil majors.

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