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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

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.
Energy

Iran, Iraq extend natural gas agreement for five more years: Min.

IFP Editorial Staff -
Iranian Oil Minister Javad Oji says Iran and Iraq recently agreed to extend a deal to export Iranian natural gas to Iraq for five more years.
Economy

Iranian Minister of Economy in Saudi Arabia on official visit

IFP Editorial Staff -
Iranian Minister of Economy and Financial Affairs Seyyed Ehsan Khandouzi, at the head of an economic delegation, has arrived at the Jeddah airport in Saudi Arabia, and was welcomed by the kingdom’s officials, directors of the Saudi-based Islamic Development Bank, and staff members of the Iranian Consulate in the Saudi city.
Economy

Value of Iran’s foreign trade up by 17% in first month of Persian year: Official data

IFP Editorial Staff -
Official figures show the volume of Iran’s foreign trade witnessed a 17-percent hike in the first month of the current Persian calendar year, with China and the United Arab Emirates (UAE) topping the list of the country’s trade partners.
Energy

White House blocking authorities from confiscating Iranian oil ships

IFP Media Wire -
The Biden administration won't let authorities seize tankers carrying Iranian oil, according to a report. Several European and Asian countries imported oil from Iran in 2022 despite US sanctions that impose penalties on governments and entities involved in energy trade with Tehran.
Economy

Central Bank chief: Facilitating de-dollarization Iran’s strategic policy

IFP Editorial Staff -
The head of the Central Bank of Iran says the country is determined to help realize de-dollarization in international transactions, describing the approach as a “strategic policy” for the Islamic Republic.
Economy

Inflation rate in Iran hits record high under Raisi: Daily

IFP Editorial Staff -
An Iranian daily highlights the figures released by the Statistical Center showing that the inflation rate in the country sets a new record high to reach 45.8% in March.
Economy

Iran deputy FM: Iranian businesspeople can travel to Saudi Arabia soon 

IFP Editorial Staff -
Iran’s Deputy Foreign Minister for Economic Diplomacy says the hurdle to visits by Iranian businesspeople to Saudi Arabia will be removed within the next 30 days.
Foreign Policy

Iran president calls for expansion of ties with Uzbekistan, implementation of agreements 

IFP Editorial Staff -
Iranian President Ebrahim Raisi says the implementation of agreements between Iran and Uzbekistan will boost the level of their ties.
Economy

Iranian trade official: Iraq not allowed to transfer dollars to Iran

IFP Editorial Staff -
The head of the Iran-Iraq chamber of commerce says the Iraqi Central Bank is not authorized to transfer US dollars to the Islamic Republic.
Economy

Iranian official: Saudi delegation to participate in trade exhibition in Tehran

IFP Editorial Staff -
Iran’s Deputy Foreign Minister for Economic Diplomacy says a Saudi trade delegation will participate in an exhibition of Iranian-made products in Tehran.
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