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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.

Asia

South Korean President in Iran for Official Visit

Golrokh Askarieh -
South Korean President Park Geun-hye who arrived in Iran on Sunday for a three-day visit, met Iranian President Hassan Rouhani on Monday morning after an official welcome ceremony at Sa'd Abad Palace.
Energy

VP to Open Lorestan Petrochemical Complex

Golrokh Askarieh -
Vice President Eshaq Jahangiri will inaugurate Lorestan Petrochemical Complex, western Iran, on Tuesday, May 3.
Energy

Iran’s Oil Exports Hit 2.3m bpd: President

Emad Askarieh -
Iran’s exports of oil and gas condensates have reached 2.3 million barrels per day (bpd), almost twice as much as before the Joint Comprehensive Plan of Action (JCPOA), a nuclear deal between Tehran and world powers, came into force, Iranian President Hassan Rouhani said.
Asia

Indian PM Modi to Visit Iran in Late May

Golrokh Askarieh -
According to Indian media, Prime Minister Narendra Modi is expected to make a visit to Iran later this month to expand ties with the country, particularly in the energy sector.
Economy

German Firms Dissatisfied with Merkel’s Stance on Iran

IFP Editorial Staff -
German businesspeople seem to be dissatisfied with German Chancellor Angela Merkel’s hard line on Iran because of Tehran’s anti-Israel stances, and expect Vice-Chancellor Sigmar Gabriel to enhance mutual cooperation with Iran in his Monday visit.
Economy

Rouhani on Workers’ Day: Stresses Need for Knowledge-Based Economy

Golrokh Askarieh -
Addressing a ceremony to mark International Workers’ Day (which coincides with national Teachers’ Day), President Hassan Rouhani congratulated Iranian workers, and said the Joint Comprehensive Plan of Action (JCPOA) was solving many national problems.
Asia

Park Guen-hye Hopes for New Chapter Between Seoul and Tehran

IFP Media Wire -
South Korea’s president arrives in Tehran today on a three-day visit aimed at boosting mutual ties, becoming the first South Korean president to visit...
Asia

Tehran, Seoul Determined to Boost Energy Cooperation

Golrokh Askarieh -
Iranian Minister of Petroleum Bijan Zangeneh said Iran and South Korea can cooperate in various energy sectors including petrochemical industry, liquefied natural gas and investment of Korean companies in Iranian projects.
Energy

Iran Resumes Electricity Exports to Iraq

Golrokh Askarieh -
Iran has resumed electricity exports to Iraq’s southern province of Basra following a hiatus over unpaid dues.
Industry

Labor Day: Iranian Workers

Golrokh Askarieh -
International Workers' Day (also known as Labor Day) occurs every year on May Day, May 1.
Energy

Iran Poised to Catch Up with Qatar Gas Production by March 2017

Emad Askarieh -
Iran says its gas recovery from the supergiant South Pars gas field will catch up with that of Qatar before the end of the current Iranian calendar year which began on March 20.
Energy

Tehran, Moscow in Talks to Boost Energy Cooperation: Iranian Envoy

Emad Askarieh -
Iran’s Ambassador to Russia Mehdi Sanaei said Tehran and Moscow are in negotiations to promote mutual cooperation in the field of energy, and other areas.
Energy

30% Rise in North Azadegan Oil Deposits

Emad Askarieh -
Engineering studies over North Azadegan oilfield indicate that the field holds 30% more crude oil in its despite than was previously estimated in the field's 2008 master development plan (MDP).
Economy

Britain-Iran Chamber of Commerce: Serious Negotiation with Banks to Ease Work with Iran

Emad Askarieh -
The chairperson of the Britain-Iran Chamber of Commerce said currently banking issues are the main problem in engagement with Iran, so in Britain there is serious negotiation for resolving the problem.
Asia

Asian Oil Imports from Iran up by 50% in March

Emad Askarieh -
Iran’s oil exports to Asian countries have increased by 50% in the third month of the current year compared the corresponding period last year.
Finance

UN Says Open to Help Resolve Iran-US Assets Dispute

Emad Askarieh -
The United Nations on Friday suggested it would be willing to assist in a dispute between Tehran and Washington after Iran requested UN help in convincing the United States to stop what the Islamic Republic says are violations of state immunity.
Americas

Zarif Sends Official Letter to UN Chief over US Asset Seizure: Full Text

Emad Askarieh -
Iranian Foreign Minister Mohammad Javad Zarif sent a letter to the United Nations Secretary General Ban Ki-moon, stressing that Tehran will take whatever action to get back the Central Bank of Iran’s assets that the US has recently seized under a court ruling.
Industry

Plant-based motor oil introduced in Iran

Golrokh Askarieh -
An Iranian company has unveiled the country’s first generation of biodegradable engine oils.
Economy

Iran Eyes 10,000 Jobs in Major Refinery Project

Golrokh Askarieh -
Siraf Refinery Project, comprising 8 gas condensate mini-refineries, will generate 10,000 jobs, said a senior official related to the project.
Energy

Iran’s Gasoline Exports Double

Golrokh Askarieh -
NIORDC’s managing director said the volume of Iran’s gasoline exports has increased twofold since the beginning of the current Iranian calendar year [20 Mar 2016].
Americas

Leader: US Deception Hindering Iran Trade

Golrokh Askarieh -
Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei says the US has resorted to “deception” to obstruct international trade with Iran despite a nuclear agreement.
Finance

US Seizure of Iran’s Assets is “Blatant Theft”: President Rouhani

IFP Editorial Staff -
Iranian President Hassan Rouhani lashed out at a recent US court ruling to confiscate nearly $2bn of Iran’s property, calling it a clear example of theft and a big legal scandal, and stressing that no one can encroach upon the rights of the Iranian nation.
Finance

Iran’s Foreign Exchange Reserves Soar: IMF

Golrokh Askarieh -
The International Monetary Fund (IMF) has pointed to a significant rise in Iran’s foreign exchange reserves.
Agriculture

Germany to Invest in Iranian Agriculture

Emad Askarieh -
Minister of Environment and Agriculture in the Saxony State of Germany Thomas Schmidth said his country will invest in the modernization of agricultural sector in Iran.
Energy

Iran’s Early April Crude Exports up by 600,000 bpd

Emad Askarieh -
Iran's crude exports in the first two weeks of April increased by about 600,000 bpd compared to that in the same period the previous year.
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