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

Data show Germany has resumed petroleum imports from Iran despite US sanctions

IFP Media Wire -
Berlin has resumed its petroleum imports from Tehran after five years despite a continued regime of US sanctions that bans any trade of energy products with Iran, according to a report.
Foreign Policy

Tehran: Serious steps taken toward release of frozen Iran assets

IFP Editorial Staff -
The spokesman for Iran’s Foreign Ministry says effective steps have been taken toward the release of Iranian assets frozen in other countries.
Foreign Policy

China’s envoy to Iran says Beijing-Tehran deal beneficial for both countries

IFP Media Wire -
Chinese ambassador to Iran Chang Hua has said the implementation of a 25-year comprehensive strategic partnership agreement between Beijing and Tehran will improve the livelihood of both nations.
Economy

Iraq releases $2.7bn of Iran’s blocked assets: Trade official

IFP Media Wire -
Head of the Iran-Iraq Joint Chamber of Commerce Yahya Al-e Es’haq announced on Saturday that Baghdad has released $2.7 billion worth of Iranian funds in gas export money frozen due to the US sanctions.
Economy

Iran’s economy grew by 4.7% in fourth quarter of 2022: World Bank

IFP Media Wire -
Figures released by the World Bank show that Iran's economy grew by 4.7 percent in the fourth quarter of 2022, standing at 15th place in the globe in terms of economic growth.
Agriculture

Activist: Iran risks losing position in global pistachio market to US

IFP Editorial Staff -
An economic activist warns that the challenges facing Iran’s pistachio production could lead to make the country lose its position on the global market to the United States and other rivals.
Economy

World Bank projects 2.2% economic growth for Iran despite sanctions

IFP Media Wire -
The World Bank (WB) has predicted that Iran’s economy will register a 2.2 percent growth in 2023 in spite of tough US sanctions.
Middle East

Saudi Arabia says to slash oil output by 1 million barrels a day from July

IFP Media Wire -
Saudi Arabia announced the decision to expand voluntary cuts to its crude oil output from July in a bid to help efforts to reinforce global oil prices. The rest of the OPEC+ oil producers have already agreed to extend earlier cuts in supply through the end of 2024.
Transportation

Baku’s Heydar Aliyev Airport rejects reports on suspension of flights to Tehran

IFP Editorial Staff -
The Heydar Aliyev Airport in the Azerbaijani capital of Baku has rejected reports that said all flights to Tehran were suspended without prior notice.
Finance

Iran’s Central Bank governor meets IMF chief in Washington

Mahdi Arman -
The governor of the Central Bank of Iran (CBI) holds a meeting with the managing-director of the International Monetary Fund (IMF), Kristalina Georgieva, in Washington for talks on ways to expand bilateral interactions and cooperation.
Energy

IEA says Iran’s oil output hits 2.750mn in April

IFP Media Wire -
The International Energy Agency (IEA) announced in its latest report that Iran’s crude production volume reached 2.75 million barrels per day (bpd) in April.
Economy

Iran to soon gain quick access to $6.7 billion of its financial resources at IMF: CBI chief

IFP Editorial Staff -
Governor of the Central Bank of Iran (CBI) Mohammadreza Farzin says the country will soon acquire quick access to $6.7 billion of its financial resources at the International Monetary Fund (IMF).
Economy

Iran closes major trade route with Afghanistan after deadly clashes

IFP Editorial Staff -
Iran closes the Milak border crossing with Afghanistan, a major trade route, “until further notice,” following an exchange of heavy gunfire between Iranian border guards and Taliban forces.
Energy

Iran president warns of western plots against OPEC

IFP Media Wire -
Iranian President Ebrahim Raisi said that several Western governments are seeking to sow discord between OPEC member states, calling on the organization's members to preserve cohesion and unity in order to foil the divisive schemes.
Foreign Policy

Iran, ASEAN stress efforts to bolster bilateral cooperation

IFP Editorial Staff -
Iranian President Ebrahim Raisi calls for efforts to realize the goals set by Tehran and the Indonesia-based Association of Southeast Asian Nations (ASEAN) for the promotion of bilateral cooperation.
Foreign Policy

President Raisi in Jakarta: Iran, Indonesia sign cooperation deals, set goal for boosting trade

IFP Editorial Staff -
Iran and Indonesia sign several agreements for cooperation in various sectors, stressing their determination to boost the value of annual bilateral trade to $20 billion in the future.
Energy

Iran, Pakistan open electricity transmission line at joint border

IFP Editorial Staff -
Iranian President Ebrahim Raisi and Pakistani Prime Minister Shehbaz Sharif have inaugurated an electricity transmission line at the joint border between the two countries in Iran’s southeastern province of Sistans-and-Baluchestan.
Economy

Iran’s president, Pakistan PM inaugurate bazaar on joint border

IFP Editorial Staff -
Iranian President Ebrahim Raisi and Pakistani Prime Minister Shehbaz Sherif inaugurate a joint border market at a border crossing linking the Iranian city of Pishin to the Pakistani city of Mand.
Americas

US expresses concern over Iran-Russia cooperation on building railway line

IFP Media Wire -
US State Department deputy spokesperson Vedant Patel voiced Washington's concern over cooperation between Tehran and Moscow in a major railroad project, known as the Rasht-Astara railway.
Economy

Iranian economy minister’s trip to Saudi Arabia sign of bigger development: Report

IFP Editorial Staff -
A recent trip by Iranian Economy Minister Ehsan Khandouzi to Saudi Arabia was a sign that Tehran and Riyadh are serious in their pursuit of rapprochement, a report says.
Transportation

Iran, Russia sign Rasht-Astara railway agreement

IFP Editorial Staff -
Iranian President Ebrahim Raisi and Russian President Vladimir Putin have signed an agreement on the construction of a 1.6-billion-dollar railway that would connect the railways of Iran, Russia, and Azerbaijan, known as the Rasht-Astara railway.
Finance

Major Russian bank opens branch in Iran for first time

Mahdi Arman -
Russia’s VTB Bank, the country’s second largest, opens a branch in Iran, as the two countries step up their financial cooperation in the face of Western sanctions.
Economy

Saudi officials seek resumption of economic ties with Iran, too: Minister

IFP Editorial Staff -
Iranian Minister of Economy Ehsan Khandouzi says that during a recent meeting with Saudi officials, they demanded that the resumption of economic ties between Saudi Arabia and Iran also be facilitated promptly.
Agriculture

Rice paddies thirsty for water

IFP Editorial Staff -
A local official with the water department in Iran’s Gilan Province says the water level in Sefidrood Dam has lessened by 21 percent compared to last year and by 50 percent compared to normal times.
Energy

Iran ranks first worldwide in oil pipeline construction: Report

IFP Media Wire -
Iran has topped world’s leading countries in construction of oil transmission pipelines despite US-led sanctions targeting the country’s energy sector, according to a report.
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