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.

Finance

Former official: Iran president has sufficient momentum for FATF approval

IFP Editorial Staff -
The debate over the Financial Action Task Force (FATF) continues to intensify in Iran, with key political figures expressing divergent views.
Economy

Iranian vice president: Joining FATF under review by administration

IFP Editorial Staff -
The Iranian vice president for legal affairs says the Financial Action Task Force (FATF) is currently being reviewed by the ministry of economy and finance, following a directive by President Massoud Pezeshkian.
Transportation

Emirates, Turkish Airlines resume flights from Iran’s int’l airport 

IFP Editorial Staff -
Starting Friday, Turkish Airlines has resumed their flights from Tehran-based Imam Khomeini International Airport to Istanbul. 
Energy

Iran’s Abadan refinery “unaffected” by Israeli regime’s attack

IFP Editorial Staff -
According to ISNA, none of the tanks or facilities at Iran’s Abadan refinery were damaged in the recent Israeli regime’s attack and refining operations and product output remain normal and stable.
Transportation

Imam Khomeini Airport CEO denies damage to air defense by Israeli attacks  

IFP Editorial Staff -
The CEO of Imam Khomeini Airport of Tehran denies claims that the Israeli regime attack in the early hours of Saturday caused damage to the airport’s air defense system.
Transportation

Flights return to normal in Iran after brief suspension over Israeli raids

IFP Media Wire -
Flights returned to normal across Iran on Saturday morning, according to the country’s Civil Aviation Organization (CAO). Tehran temporarily halted all flights in the aftermath of Israeli strikes targeting three Iranian provinces.
Foreign Policy

President Pezeshkian urges BRICS economic synergy, resistance against dominance of US dollar

IFP Media Wire -
Iranian President Massoud Pezeshkian has called on the BRICS group of emerging economies to create interconnected economic and trade cooperation among its member states, involving both public and private sectors, emphasizing that these endeavours would resist the dominance of the US dollar in their exchanges.
Foreign Policy

Iran’s president: BRICS ‘a path to counter U.S. unilateralism’

IFP Editorial Staff -
Iranian President Massoud Pezeshkian has highlighted the importance of the BRICS summit that is underway in the Russian city of Kazan, saying the intergovernmental organization can strengthen ties between member states and beat back U.S. unilateralism. 
Economy

Iran’s economy minister: Internet filtering has limited, slowed economic activities in cyberspace

IFP Editorial Staff -
Iran’s Minister of Economy says the internet filtering has damaged the country’s economy and urged relevant officials to lift the restrictive measure.
Transportation

Flights resume at Iranian airports after temporary suspension

IFP Editorial Staff -
The Civil Aviation Organization of Iran has lifted temporary restrictions that had been imposed due to safety concerns,  announcing that flights at all airports across the country have returned to normal.
Economy

Iran’s First VP in Armenia for economic forum

IFP Media Wire -
Iranian First Vice President Mohammad Reza Aref landed in Armenia to attend the third edition of the Eurasian Economic Forum and a meeting of the Eurasian Intergovernmental Council.
Economy

Iran, Pakistan agree to settle dispute over gas pipeline project

IFP Media Wire -
Tehran and Islamabad made arrangements to remove the obstacles to the implementation of a gas pipeline project between the two countries.
Economy

Iran’s non-oil trade with neighbors reaches $32.6 billion in first half of 2024

IFP Editorial Staff -
Mohammad Reza Rezvanifar, the head of Iran's Customs Administration, announced that Iran's non-oil trade with 15 neighboring countries reached 50 million tons, valued at $32.6 billion, during the first half of the current year.
Energy

Iran takes bold step to facilitate investment in its power plants

IFP Editorial Staff -
Iranian Energy Minister Abbas Aliabadi held a meeting with the chairman of the National Development Fund of Iran (NDFI) Mehdi Ghazanfari to remove the obstacles in drawing investment in the private sector and expand its power plants.
Energy

OPEC data show Iran’s oil production keeps rising despite US sanctions

IFP Media Wire -
Tehran continued to raise its oil production in August despite the pervasive pressure of Washington's sanctions that restrict Iran’s ability to sell oil in international markets, according to the latest data by the Organization of the Petroleum Exporting Countries (OPEC).
Energy

Iran vice president slammed for saying subsidized gasoline price ‘unreasonable’

IFP Editorial Staff -
Iranian Vice President Mohammadreza Aref has been the subject of criticisms for saying on Sunday that importing gasoline price at high prices and selling it at heavily-subsidized prices is ‘unreasonable.’
Economy

Chinese envoy blames Western sanctions for trade hurdles with Iran

IFP Editorial Staff -
China’s Ambassador to Tehran Cong Peiwu says the persisting problems for transactions between the Chinese and Iranian businesspeople are rooted in the Western, and specifically US, sanctions.
Economy

Head of Securities and Exchange Organization of Iran steps down amid loan row, red market

IFP Media Wire -
The Chairman of the Board of the Securities and Exchange Organization of Iran Majid Eshghi confirmed on Saturday he resigned from the post after a long period that the markets have been in the red, and days into a reported row over low-rate bank loans he received.
Views

Analyst: Reaching agreement with Pakistan over gas pipeline best option 

IFP Editorial Staff -
As the ultimatum set by Iran for Pakistan on the implementation of the so-called Peace Pipeline, looms, some experts have called on the new Iranian Administration of President Massoud Pezeshkian to seize the opportunity and revive the long-delayed deal.
Economy

Controversy surrounds billion-toman loans to Iran’s stock market board amid public outcry

IFP Editorial Staff -
Iranian media is abuzz with controversy after it was revealed that senior members of the country's Securities and Exchange Organization (SEO) granted themselves loans totaling 10.5 billion tomans. 
Finance

Unofficial sources say several Iranian banks hit by massive cyberattack

IFP Media Wire -
A massive cyberattack that hit Iran last month threatened the stability of its banking system and forced Tehran to agree to a ransom deal of millions of dollars, Politico reported citing people familiar with the case. The Islamic Republic has yet to respond to the claim.
Energy

US warns Pakistan of ‘ramifications’ over business agreements with Iran

IFP Media Wire -
An American official has stated that Washington would not advise any country, including Pakistan, of “considering business deals” with Iran, warning of “ramifications” such as sanctions.
Energy

Iran’s daily gasoline use hits all-time record: Official

IFP Media Wire -
Daily gasoline use in Iran reached an all time high of 142 million liters on August 31, an official in the country’s Oil Ministry has announced.
Economy

Official: Illegal import of iPhones costs Iran $900mn

IFP Editorial Staff -
Iran’s ban on importing iPhone cellphones has led to a capital flight of 900 million dollars to sneak the phones in high demand into the country through illegal channels and smuggling, the head of the country’s Association of Mobile Phone Importers says.
Industry

Poll: 92% of Iranians want high-quality foreign cars, even at cost of binning 3mn jobs at home

IFP Editorial Staff -
Over 92 percent of Iranians prefer lifting a years-old ban on importing foreign cars over keeping the restriction in place in favor employment in the domestic auto-industry sector, a survey has revealed.  
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