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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

Eurasian official: Iran and EEU to ink FTA

IFP Media Wire -
An analysis of the potential benefits for countries of the Eurasian Economic Union (EEU) to conclude an interim agreement on free trade with Iran will be completed by the end of this year, according to Minister of Trade of the Eurasian Economic Commission, Veronica Nikishina, Sputnik reported.
Media Wire

Germany’s BASF Reopens Bureau in Tehran

IFP Media Wire -
An official has announced the reopening of the Tehran office of Germany’s BASF SE, the largest chemical producer in the world.
Energy

Iran to Boost Gasoline Refining Capacity

IFP Media Wire -
Iran says it has devised a serious plan to increase its refining capacity for crude and condensate by more than 70% within the next four years as it tries to cut its reliance on gasoline imports.
Economy

Iran’s Car Market to Be Dominated by the French Once Again

IFP Editorial Staff -
Iran’s Saipa and France’s Citroen are finalizing a deal that will let the French monopolize the Iranian car market on the contrary to what Rouhani’s government had promised.
Media Wire

Iran Started Polypropylene Exports to Europe

IFP Media Wire -
Iran's Jam Petrochemical Company (JPC) started exporting products including polypropylene to Europe in the final months of previous Iranian calendar year (ended March 19, 2016), the company's senior official said.
Media Wire

Signs of Hope Emerge in Housing Market

IFP Media Wire -
The managing director of the Office for Housing Planning and Economy (affiliated to the Ministry of Roads and Urban Development) says the recent increase in home sales could be a good omen for the Iranian property market.
Iran in Pictures

Grape Harvest Begins on Persian Gulf Coast

Fatemeh Askarieh -
With the summer heat hitting the southern province of Hormuzgan on the coast of the Persian Gulf, early-season fresh grapes have begun to be...
Media Wire

Bushehr-Dubai Flights to Resume

IFP Media Wire -
Flights between Bushehr in southwestern Iran and Dubai in the UAE, which were suspended last year, will recommence in the first week of the Iranian month of Tir (starting June 21) in cooperation with Kish Airlines.
Media Wire

NISOC Crude Output Back to Pre-Sanctions Level: CEO

IFP Media Wire -
The Managing Director of the National Iranian South Oil Company (NISOC) said the company's crude oil output has returned to the level it was before the US-led sanctions targeted Iran's oil sector back in 2012.
Economy

Over $1.5bn Earmarked for Non-Oil Exports and Development Projects

IFP Media Wire -
Iran allocated IRR55 trillion (about $1.586 billion) to promote non-oil exports and implement development projects, ISNA reported on Sunday June 12.
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.
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