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

Iraq’s Kurdistan Region PM says local govt. open to closer economic cooperation with Iran

IFP Editorial Staff -
The prime minister of Iraq’s Kurdistan Region says the local government is prepared to increase economic cooperation with Iran, especially the neighboring Iranian province of West Azarbaijan.
Energy

Oil minister: Russia developing 7 oil, natural gas fields in Iran

IFP Editorial Staff -
Iran’s oil minister says Russia is leading the development projects of seven oil and natural gas fields in Iran and the two sides are negotiating on contracts for 14 other fields.
Energy

Iranian oil minister says Tehran ready to meet Europe’s energy needs in winter

IFP Editorial Staff -
Iran’s Oil Minister Javad Oji says the Islamic Republic has a good capacity to produce oil and gas and their commodities and is thus capable of partly relieving the energy shortage in the world.
Transportation

Official: 40% of Iran’s aviation fleet grounded

IFP Editorial Staff -
The head of the Civil Aviation Organization of Iran (CAOI) says only 60 percent of the country’s ageing fleet hit by US-led sanctions is operational.
Industry

Minister: Iran, Russia set to expand ties in industrial sector

IFP Editorial Staff -
Tehran and Moscow are ready to further develop their cooperation in shipbuilding, aviation and automobile industries, according to the Iranian minister of industry, mines and trade.
Industry

Official: Iran will start biggest exhibition presence in Moscow Monday

IFP Editorial Staff -
A spokesman for Iran’s Ministry of Industry, Mining and Commerce says the country’s biggest exhibition presence will kick off on Monday in Moscow.
Economy

‘Value of Iran-Iraq trade to reach $9bn mark by year end despite US sanctions’

IFP Editorial Staff -
The chairman of the Iran-Iraq Chamber of Commerce says the value of trade between Tehran and Baghdad will reach the 9-billion-dollar mark in seven months, despite the tough US economic sanctions in place against Iran.
Economy

Report reveals billion-dollar corruption in Iran’s steel factory

IFP Editorial Staff -
The Iranian parliament has released a scathing report involving a 3-billion-dollar corruption case in a mega-scale steel company’s management and financial transactions after a 19-month investigation.
Industry

Iran car industry eyes bigger share from Russian market

Mahdi Arman -
The Western sanctions on Russia over the conflict in Ukraine has provided a new opportunity for Iran’s automobile and auto parts industry to gain a firm foothold in its northern neighbor’s markets, an Iranian official says.
Economy

Pakistani official says Islamabad and Tehran close to signing free trade agreement

IFP Media Wire -
Iran and Pakistan are expected to sign a free trade agreement (FTA) within the next six months, a senior Pakistani government official has said.
Economy

Figures show 48% growth in foreign trade during 1st year of Raisi’s administration

IFP Editorial Staff -
During the first year of the 13th Iranian administration under President Raisi, the Islamic Republic’s foreign trade grew by an unprecedented 48%.
Energy

Official: Iran exported shipments of diesel to Afghanistan last week

IFP Editorial Staff -
The CEO of the National Iranian Oil Refinery and Distribution Company says the country exported shipment after shipment of diesel to Afghanistan at a price of 1,100 dollars per ton last week.
Economy

Iran’s roads minister in Pakistan for economic meeting

IFP Editorial Staff -
Iran’s minister of roads and urban development says the Islamic Republic and Pakistan are set to remove obstacles to expand their bilateral trade ties.
Economy

‘Iran-EU trade value up by 34% in first half of 2022’

IFP Editorial Staff -
New data show the value of trade exchanges between Iran and the European Union (EU) rose by 34 percent in the first half of this year, compared to same period in 2021, surpassing €2.5 billion.
Agriculture

Iranian president calls for changing cultivation patterns

IFP Editorial Staff -
Iranian President Ebrahim Raisi has stressed the need for modifying the country’s cultivation patterns.
Economy

Iranian official: 22% increase in exports to neighbors

IFP Editorial Staff -
The spokesman for Iran’s customs organization has said in the first four months of the Persian year of 1401, 27,035,000 tons of goods worth $16,871,873,000 have been traded between Iran and neighboring countries.
Energy

Iraq says holding talks with Iran on increasing gas imports

IFP Editorial Staff -
Iraq’s Ministry of Electricity says the Arab country needs between 50 to 55 million cubic meters of natural gas from Iran, and that Baghdad is in talks with Tehran to increase its gas imports from the neighboring country.
Energy

Embassy: Iranian oil stolen off Greek waters to return to Islamic Republic soon

IFP Editorial Staff -
Iran's Embassy in Greece has said Iranian oil stolen at the order of the US from a vessel carrying the crude in Greek waters will be returned to the Islamic Republic soon.
Local

Iranian market reports dramatic drop in public demand for fruits amid inflation

IFP Editorial Staff -
A union representing sellers of fruits and vegetables in the Iranian capital, Tehran, reports a drop of between 50 to 60 percent in the public demand for fruits in markets due to the people’s declining purchasing power as the country’s economy grapples with inflation.
Economy

Iran reports 58% increase in transit of foreign goods

IFP Editorial Staff -
The spokesman for Iran’s customs organization says since President Ebrahim Raisi took office in late August 2021, 151,496mn tons of goods worth $101,820bn have been traded between Iran and foreign countries.
Economy

Iran’s non-oil foreign trade touches $9bn mark

IFP Editorial Staff -
Iran’s non-petroleum foreign trade rose 19% in the month ending July 22, 2022, standing at nearly $9 billion, says an Iranian official.
Energy

Iraq says in talks with Iran to increase natural gas imports

IFP Editorial Staff -
The Iraqi Ministry of Electricity says it is in talks with Iran for securing a rise in imports of natural gas from its eastern neighbor as Baghdad works to inaugurate new power plants fueled by natural gas.
Energy

Iranian oil minister says return of Iran’s crude can stabilize markets

IFP Editorial Staff -
Iran’s oil minister says the country, which sits on the largest oil and gas reserves of the world, is ready to increase its crude output to pre-sanctions levels in as short a time as possible.
Energy

Oil minister says Iran to continue constructive interactions with OPEC

IFP Media Wire -
Iranian Minister of Petroleum Javad Owji has stated Tehran, as a founding member of OPEC, will provide support and continue with its constructive cooperation with the organization, its secretariat and the cartel’s new secretary general as it did before.
Economy

US sanctions reduce Iran-Japan trade by almost 80 percent: Ambassador

IFP Editorial Staff -
Japan’s Ambassador to Tehran Aikawa Kazutoshi says sanctions imposed by the United States have reduced bilateral trade between Tehran and Tokyo by almost 80 percent in the past several years.
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