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.

Energy

Iran oil minister: 100k of Iranian oil refined daily at offshore Venezuelan refinery 

IFP Editorial Staff -
Iran’s Oil Minister Javad Oji says 100 thousand barrels of Iranian oil is refined at an offshore refinery belonging to Venezuela.
Economy

Iran sends 1st consignment of huge saffron shipment to Qatar 

IFP Editorial Staff -
Iran has sent the first consignment of a 200-ton saffron shipment to Qatar for processing.
Economy

Internet restrictions in Iran badly affecting economy, businesses: Poll

IFP Editorial Staff -
Opinion polls suggest restrictions on Internet access in Iran are tightening the noose on numerous businesses as well as the economy.
Economy

Report: Iran internet blackout shuts down some 300k online stores in country

IFP Editorial Staff -
The government’s decision to impose an internet blackout amid the protests and riots that have hit different cities across Iran, has reportedly shut down some 300,000 online stores.
Economy

“Livelihoods of 9 million people in peril because of internet shutdown”

IFP Editorial Staff -
The deputy head of Iran's chamber of commerce says each hour of internet outage is causing a loss of $1.5 million to the economy. Hossein Salahvarzi, in the meeting of the council of negotiations between the private sector and the government, said this has also put 9 million jobs at peril in Iran.
Economy

Iranian newspaper traces public discontent to reduced welfare

IFP Editorial Staff -
Iranian daily Donyaye Eghtesad – a newspaper focused on the market and the economy – says the country is seeing public discontent because people’s livelihoods are under pressure.
Energy

Russia plans to develop 6 oil and 2 gas fields in Iran

IFP Editorial Staff -
The Iranian deputy oil minister says Russia’s state-run oil company Gazprom is going to develop six oilfields and two gas fields in the Islamic Republic.
Economy

Daily: Internet restrictions in Iran inflict huge losses on businesses, economy

IFP Editorial Staff -
The Iranian government’s restricting Internet access in the country has drawn extensive criticism as the measure has inflicted huge losses on numerous businesses.
Economy

Iranian VP: Free trade zones with Russia can render sanctions ineffective

IFP Editorial Staff -
Iran’s First Vice President Mohammad Mokhber says US-led sanctions cannot stand in the way of trade between Iran and Russia، highlighting the role of free trade zones in bypassing the embargoes and expanding bilateral ties.
Finance

Official: Iran VP’s visit to Russia aimed at elimination of dollar from transactions

IFP Editorial Staff -
The deputy governor of Iran’s Central Bank says Iran and Russia plan to strengthen trade ties in rial and rubble during the Iranian vice president’s visit to Moscow in order to move from services to goods in bilateral economic ties and eliminate dollar in their transactions.
Energy

Iran oil minister says the country to become regional energy hub

IFP Editorial Staff -
Iranian Oil Minister Javad Oji says the transit and swap of oil and gas from Russia will make Iran the region’s energy hub, and this will flow huge amounts of foreign currency into the Islamic Republic.
Energy

Iran says new US sanctions having no impact on petrochemical industry

IFP Editorial Staff -
The secretary general of Iran’s petrochemical industry guild union says new sanctions on the country will have no impact on its activities, although the bans could be part of a propaganda campaign and psychological warfare.
Economy

Iran VP: Sanctions won’t stop Iran-Russia cooperation

IFP Editorial Staff -
Iranian First Vice President Mohammad Mokhber has said the Islamic Republic and Russia enjoy good ties that have been expanding.
Energy

US accuses Opec+ of aligning with Russia

IFP Media Wire -
The White House has accused Opec+ of aligning with Russia after Saudi Arabi led the organization to deep oil production cuts, prompting a backlash from countries battling surging energy inflation triggered by Moscow’s invasion of Ukraine.
Economy

Iran’s VP stresses implementation of agreements with Russia

IFP Editorial Staff -
Iranian First Vice President Mohammad Mokhber, who is on a visit to Russia, says cooperation agreements between Iran and Russia have to be seriously implemented based on a detailed and scheduled plan.
Finance

Report: Iranian assets in South Korea to be released in exchange for release of American prisoners in Iran

IFP Editorial Staff -
Iranian media are reporting intensive negotiations with the US through a regional mediary to pave the way for the release of billions of dollars of Iranian assets blocked in other countries in exchange for the release of American prisoners in Iran.
Transportation

Turkmenistan exempts Iran from heavy tariffs on transit of goods

IFP Editorial Staff -
An Iranian official says Turkmenistan has cancelled heavy tariffs for Iranian transit of goods using the country’s borders and territory as of October 1.
Economy

Iran’s exports of industrial products up 70%

IFP Editorial Staff -
Iran’s exports of industrial products have increased by 70% during the tenure of Ebrahim Raisi, who took over as Iranian President in August 2022.
Energy

Oil minister: Iran can help Japan fulfill energy needs

IFP Editorial Staff -
Iranian Oil Minister Javad Owji says Iran and Japan should work to expand their economic cooperation regardless of the sanctions in place against the Islamic Republic, adding Tehran can play a major role in fulfilling the East Asian state’s energy needs.
Energy

Report: Iranian crude, condensate reach Venezuela’s port

IFP Media Wire -
Two Iranian tankers have arrived in Venezuela with about 1.22 million barrels of Iranian crude and 2 million barrels of condensate, media reports citing documents from state oil company PDVSA say.
Energy

Iran invites Japanese investments in oil industry

IFP Editorial Staff -
Iran’s oil minister says the country is not waiting for the revival of the nuclear deal and is trying to attract foreign investments including those from Japan.
Energy

Iran says ready to help Lebanon meet energy needs

IFP Editorial Staff -
Iranian Foreign Minister Hossein Amirabdollahian expresses the country’s readiness to help Lebanon meet its energy needs, as the Arab country grapples with a severe energy crunch.
Economy

Iran-China eight-month trade hit $11.16bn

IFP Editorial Staff -
The trade between Iran and China has grown by 19 percent to hit 11.16 billion dollars since the turn of the year compared to the same period the previous year, new official figures from China show.
Economy

Iran customs: Exports to Africa increased 40% in 5 months

IFP Editorial Staff -
Iran has experienced a 40-percent increase in its exports to African countries during the first five months of the Iranian year, from March to August, the spokesman for the Iranian customs announced.
Economy

Raisi: Iran and Uzbekistan want to expand trade ties

IFP Editorial Staff -
Iran’s President Ebrahim Raisi says his administration’s top priority is to interact with neighbors and regional countries.
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