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

South Korea to build steel mill in Iran

Emad Askarieh -
South Korean steelmaker POSCO - the world's sixth-biggest steel producer - has announced a plan to help build a $1.6 billion steel mill in southeastern Iran.
Africa

Iran Eyes Investment in Zimbabwe Ostrich Breeding

Emad Askarieh -
Zimbabwe’s Small to Medium Enterprises and Cooperative Development Minister Sithembiso Nyoni said on Tuesday that Iran has expressed interest in partnering in a project to breed up to 2,000 ostriches in the African country.
Economy

Rouhani vows to privatize Iran’s car industry

Emad Askarieh -
Iran’s President Hassan Rouhani said on Tuesday that the privatization of the country’s car industry is a key mission in the economic agenda of his government – an announcement already seen by analysts as a sign that Iran is already preparing to open up its economy to world markets.
Hard News

Iran Inks 3 MoUs with Foreign Carmakers

Emad Askarieh -
Iran signed three memorandums of understanding (MoUs) with three automakers from Sweden, Turkey and India for cooperation and as parts of efforts to boost the country's car-manufacturing industry.
Economy

Iran says no place for China carmakers if local content not raised

Fatemeh Askarieh -
Iran on Sunday raised the possibility to force the Chinese car manufacturers out of its auto market in the next Iranian calendar year (to begin 21 March 2016).
Agriculture

Municipal greenhouse nurseries to prepare 130k flowers

Fatemeh Askarieh -
Municipal greenhouse nurseries in northeastern provincial capital city of Bojnord will prepare 130,000 flowers for Iran’s New Year’s Day ceremonies for the public. The following...
Economy

Iran’s first container ship heads to Europe

Emad Askarieh -
An Iranian container ship is heading to Europe for the first time in five years, marking Tehran's return to international markets after the lifting of sanctions, an official says.
Economy

Iran, Switzerland sign MoU on shipping, sea transport cooperation

Emad Askarieh -
The Islamic Republic of Iran and Switzerland signed on Sunday a memorandum of understanding (MoU) on expansion of shipping and sea transport cooperation.
Economy

Paris ready to develop economic-industrial cooperation with Tehran

Golrokh Askarieh -
France Foreign Minister's Advisor, Jacques de Lajugie said that there is suitable ground for Tehran-Paris economic and industrial cooperation and it is welcomed by France.
Economy

Iran-China trade down 41% in Jan.

Golrokh Askarieh -
The volume of trade exchange between Iran and China has dropped by 41% amid plunging oil prices.
Economy

China among main importers of Iranian hand-woven carpets

Emad Askarieh -
Head of the Iran's National Carpet Center Hamid Kargar said here on Thursday that China is considered as the 10 main countries that import Iranian hand-woven carpets.
Economy

All capabilities employed to fulfill ‘economy of resistance’: VP

Emad Askarieh -
We are employing all our power and capacity to materialize the ‘economy of resistance’ during the6th Development Plan, said Vice President and head of Cultural Heritage Organization.
Economy

Oman backs Iran in Saudi freeze row

Golrokh Askarieh -
Oman has lent weight to Iran in a row over a Saudi proposal to freeze oil output at current levels, saying the Islamic Republic must be exempted from the plan.
Economy

Iran-Germany Banking Ties to Normalize in 3 Months: Envoy

Golrokh Askarieh -
Iranian Ambassador to Germany Ali Majedi said normalization of banking relations between the Islamic Republic and the European country will take two or three months.
Energy

Iran rejects oil freeze call as ‘joke’

Emad Askarieh -
Iran on Tuesday vehemently rejected any possibility that it will stop increasing its oil production with the country’s oil minister Bijan Zangeneh mocking any request on Tehran to that effect as “a joke”.
Energy

Italy to Build Three Solar Plants in Iran

Emad Askarieh -
An Italian energy company is planned to construct solar power plants in three Iranian cities with a total capacity of 10 Mega Watts.
Agriculture

Iran to hold specialized food exhibition in Russia

Fatemeh Askarieh -
Iran’s specialized exhibition of high-quality foodstuffs will be held in Russia in late April 2016.
Energy

Iran, US will have biggest oil production surges: IEA

Emad Askarieh -
Crude oil production by Iran and the United States will experience biggest increases by 2021, according to the International Energy Agency (IEA).
Energy

VINCI, Hyundai interested in Iran largest oil field

Fatemeh Askarieh -
A senior oil official said South Korea's Hyundai and France's VINCI have expressed willingness to be active in largest Iranian oil field 'South Azadegan'.
Economy

Vilified Siemens is Iran’s new darling

Golrokh Askarieh -
Iran’s Minister of Petroleum Bijan Zangeneh hopes to open a “new chapter” in cooperation with Siemens as Europe's biggest engineering conglomerate refreshes its indelible mark in the Iranian industry.
Economy

Iran negotiating with 30 European countries on oil drilling

Golrokh Askarieh -
Managing Director of Iranian Drilling Company announced that his company has held talks with 30 European and Asian firms over past several months, and said Tehran is ready to cooperate with accredited oil companies and joint drilling cooperation.
Economy

Iran intends to increase oil output: Analyst

Golrokh Askarieh -
An economic analyst Monday said Iran intends to increase its daily oil product and return to the pre-sanctions time, adding that as long as it has not reached its previous position in the oil production and export market and has not retaken its quota it will not retreat.
Economy

Russia lauds Iran’s role in oil market talks

Golrokh Askarieh -
Russia’s Energy Minister Alexander Novak on Sunday praise Iran for adopting what he described as a “constructive role” toward proposals by key producers to stabilize oil prices.
Economy

Japan eyeing Iran’s oil prize Azadegan

Golrokh Askarieh -
New indications have emerged that show Japan has become interested in the development of Iran’s Azadegan oil field that industrialists have for long described as the crown jewel of the country’s oil projects.
Economy

Iran laying basis for non-oil economy

Golrokh Askarieh -
Iran expects to attract $15 billion in direct foreign investment this year as the biggest economy closed to international business since the fall of the Soviet Union is humming back to life.
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