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

European states dissolve symbolic Iran trade system

IFP Media Wire -
European countries have shut down the INSTEX system, which they had launched in the midst of US sanctions to facilitate trade with Iran.
Economy

Iran, Venezuela launch direct shipping line to further boost bilateral trade

IFP Editorial Staff -
Tehran’s Embassy in Caracas says a direct shipping line connecting Iran to Venezuela was launch last month with the goal of supporting the trade ties between the economic sectors of the two countries.
Energy

Iran launches new Phase of giant Gas Field in Persian Gulf

IFP Editorial Staff -
Iran has inaugurated Phase 14 of the South Pars Gas Field in the Persian Gulf during a ceremony attended by President Ebrahim Raisi.
Economy

Russian official: Value of trade with Iran rose by 20% in 2022

IFP Editorial Staff -
A senior Russian economic official says the value of trade between his country and Iran increased by 20 percent in 2022 to reach $4.9 billion.
Economy

Iranian MP: People getting weaker due to rial plunge against dollar

IFP Editorial Staff -
An Iranian member of parliament has issued a stark warning about the rising inflation in the country. Kazem Delkhosh Abatari said people are becoming weaker and weaker as a result of soaring prices.
Economy

MP urges Iran Foreign Ministry to play more active role in FATF case

IFP Editorial Staff -
An Iranian lawmaker has urged the Foreign Ministry to play a more active role in the case of Iran’s possible accession to the Financial Action Task Force (FATF).
Energy

Iran ups oil prices for Asia: Report

IFP Media Wire -
Iran has raised the official selling price (OSP) of its Light crude oil grade for Asian buyers, a report says.
Economy

Outspoken Iranian daily urges officials not to count on China for economic improvement

IFP Editorial Staff -
An outspoken Iranian daily accuses China of giving empty promises to Tehran in bilateral deals on trade cooperation, urging Iranian officials not to pin their hopes on Beijing in their efforts to improve the country’s economic situation.
Economy

Official: Iran, China to launch Green Customs Corridor, booost trades

IFP Editorial Staff -
A senior Iranian official says Iran and China plan to launch a Green Customs Corridor aimed at facilitating growing trade between the two strategic partners.
Economy

Official denies halt in Iran-Iraq trade ties

IFP Media Wire -
The chairman of the Iran-Iraq joint chamber of commerce rejected any halt or disruption in Iran-Iraq trade ties, calling it psychological warfare.
Transportation

Iran’s ATA Airlines rejects rumors of explosion during Najaf-Tehran flight

IFP Editorial Staff -
Iran’s ATA Airlines offers an apology and an explanation over a problem that delayed a Najaf-Tehran flight, dismissing rumors about an explosion prior to take-off or the plane’s deviation from the runway.
Economy

Shamkhani: Iran and Russia priority is expanding economic ties

IFP Editorial Staff -
Secretary of Iran’s Supreme National Security Council Ali Shamkhani says the top priority of Tehran and Moscow is to expand their economic ties.
Energy

Saudi Arabia warns anti-Russian sanctions could result in energy shortages

IFP Media Wire -
Saudi Energy Minister Prince Abdulaziz bin Salman has warned Western sanctions against Moscow could result in a shortage of energy supplies in future.
Economy

Expert: First 10 months of current year was ‘inflation peak’ in Iran

Mahdi Arman -
An economic expert highlights a significant rise in Iran’s inflation under President Ebrahim Raisi, saying the first 10 months of the current Persian calendar year marked the peak of the country’s inflation in over seven decades.
Energy

Minister: Iran oil revenues up 40 percent, sets record in gas production

IFP Editorial Staff -
Iran’s oil minister says the country’s oil revenues have increased by 40 percent in the past 10 months compared to the same period last year.
Economy

Official: Iran non-oil exports rose by 17.66 percent to $45.3bn in ten months to January

IFP Editorial Staff -
Iran’s Customs Administration says the ten month exports of non-oil products in the country has hit 45.3 billion dollars, which is a 17.66 percent rise in terms of value compared to the same period of the previous year.
Economy

Uzbek president urges road map for economic cooperation with Iran

Mahdi Arman -
Uzbekistan’s President Shavkat Mirziyoyev has called for the formation of a joint committee by the Foreign Ministries of Iran and Uzbekistan in order to draw up a road map for economic cooperation between the two countries.
Energy

US says to mount pressure on China to stop importing Iran oil

IFP Media Wire -
The US envoy on Iran says Washington will increase pressure on China to cease imports of Iranian oil. China is Iran’s biggest oil customer, according to reports.
Energy

Cold spell causes gas shortage in some Iranian cities

IFP Editorial Staff -
Natural gas shortage and outages have caused troubles for citizens in parts of Iran amid a persisting cold snap in the country.
Economy

Shamkhani: Iran-Russia economic cooperation part of strategic agreements

IFP Editorial Staff -
Secretary of the Supreme National Security Council of Iran Rear Admiral Ali Shamkhani has underlined the need to speed up the implementation of joint economic projects with Russia, which were earlier agreed by the presidents of the two countries.
Energy

Iran oil exports end 2022 at a high despite sanctions

IFP Media Wire -
Iranian oil exports hit new highs in the last two months of 2022 and are making a strong start to 2023 despite US sanctions, according to companies that track the flows.
Economy

High-ranking Iranian economic delegation in UAE

IFP Editorial Staff -
A delegation of the Islamic Republic of Iran headed by Deputy Foreign Minister for Economic Diplomacy Mehdi Safari is in the United Arab Emirates to explore ways of boosting bilateral economic ties.
Economy

Iran ‘resumes exports to Saudi Arabia’ amid diplomatic process

IFP Editorial Staff -
An Iranian economic expert says the country has resumed sales to Saudi Arabia despite troubled ties between the two neighbors, with the value of exports to kingdom having reached around $15 million in seven months.
Finance

Center at Iran’s Economy Ministry says no plans to join FATF

IFP Editorial Staff -
A center at Iran’s Ministry of Economic Affairs and Finance says there are no plans for the country to join the Financial Action Task Force, or FATF, the global organization that fights money laundering.
Transportation

First direct shipping line from China to Iranian port city of Chabahar

Mahdi Arman -
The first ocean liner from China has docked in Chabahar Port in southern Iran.
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