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.

Economy

India Trying to Repay Its Debts to Iran before PM’s Visit

IFP Editorial Staff - May 16, 2016

Indian officials are reportedly trying to repay their oil debts to Iran before an upcoming visit by Indian Prime Minister Narendra Modi to Tehran, which is due to take place on May 22.

Economy

Iran Starts Negotiations with Airbus to Sign Plane Purchase Contract

Golrokh Askarieh - May 16, 2016

Iran has begun negotiations with Airbus to finalize the first major deal for purchase of passenger planes since 1979, a senior Iranian official says.

Asia

Chinese Firms to Renovate Oil Refinery in Iran

Golrokh Askarieh - May 16, 2016

The National Energy Administration of China has signed a memorandum of understanding with the Iranian Ministry of Petroleum to support oil and gas projects in Iran, including the refurbishment of Abadan Refinery in south-western Iran.

Finance

JCPOA Should Help Implementation of “Resistance Economy”

Golrokh Askarieh - May 16, 2016

Iran’s Hassan Rouhani has urged that the opportunities provided by the JCPOA be taken advantage of to improve interaction with the world and the implementation of “Resistance Economy.”

Economy

Iran to Build Wind Farm in Kazakhstan

Golrokh Askarieh - May 15, 2016

Iran and Kazakhstan have struck a deal on the construction of a wind park in Kazakhstan to generate electricity there.

Economy

Senior IMF Official in Tehran for Economic Talks

Emad Askarieh - May 15, 2016

First Deputy Managing Director of the International Monetary Fund (IMF) David Lipton arrived in Tehran on Sunday to hold talks with senior Iranian officials on economic issues.

Economy

Iran, Tunisia Discuss Development of Energy Cooperation

Golrokh Askarieh - May 14, 2016

Iranian Energy Minister Hamid Chitchian and his Tunisian counterpart Mongi Marzouk on Saturday discussed expansion of mutual cooperation between the two countries in the field of energy.

Economy

Joint Credit Line to Help Boost Iran-Japan Cooperation in Water Projects

Golrokh Askarieh - May 14, 2016

An Iranian official expressed the hope that a joint credit line between Tehran and Tokyo would contribute to the implementation of joint projects on water management systems.

Economy

Malaysia’s AirAsia X to Resume Flights to Iran

Golrokh Askarieh - May 14, 2016

A senior official with Malaysia’s AirAsia X said on Saturday that direct flights to Tehran from Kuala Lumpur and Bangkok will be resumed, adding that they are going to be operated three times weekly.

Economy

Pasargad wants to become ‘global bank’

Golrokh Askarieh - May 14, 2016

Pasargad Financial Group, which owns Iran's second largest bank, is considering selling its shares in energy entities in a sign of improving business environment.

Economy

Iran Exports LPG to Africa by Using ISO Tank Containers

Golrokh Askarieh - May 14, 2016

Iran started export of its Liquefied Petroleum Gas (LPG) to African countries by using ISO tank containers, an official affiliated to the National Iranian Oil Production and Distribution Company (NIOPDC) said.

Energy

Iran Tankers Now Free to Dock at Any Port

Emad Askarieh - May 14, 2016

A top Iranian oil official said on Friday that sanctions on Iranian shipping lines have been completely removed, adding that Iranian tankers presently have no problem to travel to ports around the world.

Energy

IEA says Iran’s Oil Output Rose Faster than Expected

Emad Askarieh - May 13, 2016

The International Energy Agency (IEA) announced on Thursday that Iran’s oil production has risen faster than expected, reaching levels not seen since before the Western sanctions against the country were tightened in 2011.

Asia

Iran and China Discuss Cooperation on Fighting Corruption

Golrokh Askarieh - May 11, 2016

In a meeting in Beijing on Wednesday May 11, the Head of Iran's General Inspectorate Organization, Nasser Seraj, and China's Public Prosecutor Cao Jianming, discussed broadening relations, especially a campaign against financial corruption.

Handicrafts

UNIDO Ready to Promote Hamedan Leather Industry

Golrokh Askarieh - May 11, 2016

Mohammad Babaei, a representative of the United Nations Industrial Development Organization, said on Tuesday May 10 that UNIDO is ready to cooperate with Hamedan Province to help promote its leather industry.

Americas

No Government Can Decide on Another Country’s Assets: Rouhani

Golrokh Askarieh - May 11, 2016

Iran’s President Hassan Rouhani criticized a recent decision by the US to seize nearly $2bn of Iranian money, stressing that no country can make decisions about the assets of another state.

Economy

Iranian Academic Highlights Role of Freedom in Rooting Out Corruption

IFP Editorial Staff - May 11, 2016

Mahdi Pazooki, an Iranian professor and economic expert, referred to freedom as the best means for countering corruption, and stressed that anti-corruption efforts would be futile without transparency and freedom of information.

Energy

PGPIC to Re-open European Offices

Golrokh Askarieh - May 11, 2016

Managing Director of the Persian Gulf Petrochemical Industry Company (PGPIC) Adel Nejad-Salim said that it plans to re-open its offices in Europe in the near future.

Energy

Tehran Cuts Crude Price amid Riyadh’s Surge Push

Emad Askarieh - May 11, 2016

Tehran is reportedly cutting the price of Iranian crude in the Asian trade amid Saudi Arabia’s efforts to flood the already brimming world oil market.

Asia