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.
Oil price manipulation, too risky a gamble
An Iranian energy expert says Saudi Arabia’s deliberate manipulation of oil prices and its overproduction are to blame for the sharp pains the glutted market feels.
2015, year of economic boom for Iran: IMF
The IMF has projected a 2.2% real GDP growth for the Islamic Republic of Iran in 2015.
Ninety thousand tons of ore extracted from Khomein Gold Mine
Adoption of an industrial process for gold processing will turn Khomein into a hub for production of precious metals.
Iran to increase South Pars gas production by 100 mcm
Iran's oil minister has said that as promised before the country will increase its gas production from South Pars by 100 million cubic meters [per day] by yearend [March 2015].
Rafsanjani urges OPEC cooperation to prevent further drop in oil prices
Chairman of the Expediency Council Akbar Hashemi Rafsanjani has urged OPEC members to stand united and prevent further drop in oil prices.
Foreign direct investment in South Asia
Iran, the fifth country in the region in terms of foreign investment absorption, stands a good chance of attracting more capital from abroad.
Iran allots $15.2b to develop joint oilfields with Iraq
Iran has allocated USD 15.2 billon for the development of joint oilfields with neighboring Iraq as part of the Islamic Republic’s plans to increase its oil output.
12th joint commission with Belarus in March
Tehran is ready to promote cooperation with Minsk in areas such as standardization, bourse, exports of techno-engineering services and holding exhibitions and providing related services.
Iranian parliament Committee to study Iran-Pakistan gas project delay
An Iranian MP did not rule out the possibility of a contractual penalty delay on Pakistan after it failed to honor its obligations under a joint gas pipeline project with Iran.
Iran, Belarus set to boost economic ties amid West bans: VP
Tehran and Minsk enjoy growing relations in the political and economic sectors, but both sides must take more serious steps to further strengthen their economic ties, said Jahangiri.
Iran raises daily gas output by 70m cubic meters
Oil Minister Bijan Namdar Zanganeh has said that Iran's gas output has surpassed 70 million cubic meters and is estimated to reach 100 million by year-end.
Iran sets its sights on joint oil fields
The Iranian government has devised special plans for the joint oil fields, trying to raise the country’s crude output in four years.
Iran hits 66% copper production target
In order to boost copper production capacity, new investment and development plans are inevitable, said a senior industry ministry official.
Iran’s economy grows 4 percent in six months
A report released by the Central Bank shows that Iran’s economy posted 4 percent growth in the first half of the year [started March 2014].
By 2040 countries lacking nuclear-generated electricity will fall apart
Production of nuclear energy is cheaper than wind and solar energies and is not tied to any specific climatic conditions.
Iran becomes the ninth member of an exclusive club of nations tapping geothermal energy
Almost a dozen areas across Iran are suitable for generation of geothermal energy.
Iran’s changed flight routes benefit neighboring countries
Foreign companies are willing to sell their air navigation products to Iran following nuclear talks between Tehran and P5+1.
Saudi comments add to market volatility
A slump in prices is temporary and it will be “difficult, if not impossible” for OPEC to curb its oil production amid a glut, said Ali Al-Naimi, Saudi Arabia’s oil minister.
Saudi Arabia serving Western States by Surplus Production
Chief of Staff of the Iranian Armed Forces Major General Hassan Firouzabadi has said that Saudi Arabia has decreased crude prices to place pressure on regional countries which are fighting ISIL terrorists.
Iran FM blasts ME countries on falling oil prices
Iran’s foreign minister has said that Tehran is ready to promote all-out ties with Iraq, adding that Iraq’s progress and security is intertwined with that of Iran.
Iran to resume petchem exports to Europe
A consignment of linear low density polyethylene (LLDPE), measuring 2,000 tons with a total value of over $2 million, will be shipped to Belgium next week.
We need to attract foreign investment: Iranian deputy trade min.
Under a 5-phase joint venture between Iran and Kuwait a steel mill is to be set up in the Persian Gulf Special Mineral Industry Zone in southern Iran.
Zanganeh denies Iran, Russia ‘oil bartering’
Iran's oil chief Bijan Namdar Zanganeh has ruled out reports that Tehran has signed a deal with Russia to barter oil for essential goods.
With oil prices in free fall, an OPEC extraordinary meeting is likely: Iranian oil minister
Consensus among all members will determine whether or not an extraordinary meeting of OPEC should be held in case global oil prices continue to drop, said the Iranian oil chief.
Iran, S. Africa eye $2 billion trade; a dream that can come true
It is not hard for Iran and South Africa to raise their non-oil trade to $2 billion if their business sectors earnestly get down to business.
