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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.

Media Wire

Chabahar Deal an Opportunity for Whole Region: Pak MP

IFP Media Wire -
The Chairman of the Pakistan National Assembly Standing Committee on Foreign Affairs believes that the Chabahar deal signed between Iran, India and Afghanistan, if looked at positively, will be an opportunity for the whole region.
Media Wire

Iran’s Refining Capacity to Surpass 1.8m bpd This Year

IFP Media Wire -
Iran's refining capacity will surpass 1.8 m bpd during this Iranian calendar year (started March 20, 2016), a senior NIOPDC official said.
Media Wire

New Plans to Make Qeshm A Persian Gulf Focal Point: Official

IFP Media Wire -
A new contract between Iran and China will turn Qeshm Island into a focal point in the Persian Gulf in terms of oil reservation projects and oil production activities.
Media Wire

Iran Resumes Dairy Exports to Iraq

IFP Media Wire -
The Trade Promotion Organization of Iran (TPO) declared on Saturday June 11 that, following confirmation from the World Organization for Animal Health concerning the control of Foot-and-Mouth Disease in Iran, prohibition of Iran's dairy export to Iraq has been lifted.
Media Wire

Agreements Worth Over $35bn Reached Between Iran and Foreign Banks

IFP Media Wire -
A senior Iranian official said on Sunday June 12 that so far several agreements, worth $35 billion, have been reached between Iran and large global banks.
Selected

Rouhani Orders First VP to Pursue Issue of Astronomical Salaries

IFP Editorial Staff -
Within the past few weeks, a number of paycheques belonging to senior executives have been leaked, revealing their astronomical salaries. The figures provoked uproar among Iranian media and public opinion, and finally drew President Hassan Rouhani's reaction.
Media Wire

Iran’s Industry Minister to Meet Russia’s Energy Minister

IFP Media Wire -
Iranian Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh and Russian Energy Minister Alexander Novak are scheduled to hold talks at an upcoming major international economic conference in St. Petersburg.
Media Wire

PSEEZ Reduces Gas Flaring to Save Environment

IFP Media Wire -
Managing director of Pars Special Economic Energy Zone (PSEEZ) said the zone has flared only 4.5 mcm/week of gas in the first three months of the current calendar year.
Media Wire

Hong Kong Eyes Closer Maritime Cooperation with Tehran

IFP Media Wire -
An official with the Hong Kong Trade Development Council (HKTDC) said closer business ties with Iran following a lasting nuclear deal between Tehran and world powers would enable the city to tackle the downturn in the seaborne sector.
Media Wire

Iran Signs Oil Sales Deals with 7 European Firms

IFP Media Wire -
An oil official has reported on the signing of seven oil sale agreements with Greek, Spanish, Italian, Swiss, French and Russian companies.
Energy

S Korea to Up Iran’s Ultra-Light Crude Oil Imports

IFP Media Wire -
South Korea is expected to increase its imports of ultra-light oil from Iran by more than 50% in June, a report said.
Media Wire

Experts Urge Iran to Supply Market Heavy Crude Demand

IFP Media Wire -
A number of experts affiliated to the International and Commercial Department of the Petroleum Ministry urged supply of global market demand for heavy crude oil by Iran.
Industry

Iran’s Private Sector Steel Production Rising despite Global Decline

IFP Media Wire -
The Iranian private sector steel industry is experiencing a boom contrary to international downturn, a report said.
Transportation

Direct Iran-Denmark Flight Launched

Golrokh Askarieh -
Iran's Mahan Air airline has resumed direct flights between Tehran and Copenhagen after an eight-year halt.
Energy

Petropars, Interoil Italia, PSEEZ Agree to Develop Oilfield

Golrokh Askarieh -
Iran's Petropars, the Pars Special Economic Energy Zone (PSEEZ), and Italy's Stinnes Interoil Italia Srl have cemented a deal to develop a new oil field in southern Iran, the managing director of Petropars said.
Media Wire

Azerbaijan to Give Iran Loan for Railroad Project

IFP Media Wire -
An Iranian deputy minister unveiled plans for getting a $500m loan from the Republic of Azerbaijan to construct a railroad in the northern part of the country that will later be connected to Azerbaijan’s railroad network.
Media Wire

Banks Ordered to Allocate 10% of Loans to SMEs

IFP Media Wire -
The Central Bank of Iran has ordered banks and credit institutions to allocate a minimum of 10% of their loans to small and medium-sized businesses in a move to help create jobs and boost the beleaguered production sector.
Nuclear

Economic Situation Improving, Araqchi Says

IFP Media Wire -
Deputy Foreign Minister Abbas Araqchi said on Thursday June 9 that the economic situation in Iran has been improving since the nuclear deal – officially called the Joint Comprehensive Plan of Action (JCPOA) – went into force.
Economy

Iran Bank Joins Euro Payment System

IFP Media Wire -
Iran says one of its London-based banks has joined the euro payment system, in what could be another breakthrough for the country to remove technical hurdles created as a result of multiple years of sanctions.
Energy

Shell starts to buy Iran’s oil

IFP Media Wire -
Traders say Royal Dutch Shell has resumed purchases of Iranian crude. The company has now become the second major oil firm after Total to restart trade with Tehran after the lifting of sanctions against the country in January.
Energy

South Pars Phases 17 & 18 Online by Winter

IFP Media Wire -
Plans are under way to launch phases 17 and 18 of the supergiant South Pars gas field during the second half of the current calendar year, which began on March 20, a senior energy official said.
Industry

Handicraft Expo Breaks Record

IFP Media Wire -
The sales of items crafted by Iranian artisans in the 26th Iran Handicrafts Exhibition broke the record set last year.
Economy

“Iran, Post-Sanctions” Seminar to Be Held in St. Petersburg

IFP Media Wire -
A ranking Iranian economic delegation is to attend a seminar in St. Petersburg, Russia, which will explore Iran’s special programs for the post-sanctions period.
Industry

Iran Exports More Than 25% of Its Cement

IFP Media Wire -
A new report says that Iran exported more than 15m tons of locally produced cement over the last Persian calendar year (ended March 19).
Energy

Iran and Indonesia to Cooperate on Village-Scale Energy Projects

IFP Media Wire -
Iranian and Indonesian officials in a meeting on Tuesday June 7 reviewed ways to develop cooperation in the field of village-level energy.
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