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

Thanks to trade diplomacy, Iran’s exports rise across board

IFP Editorial Staff -
Official figures show Iran’s exports to neighbors and beyond grew last year despite harsh US sanctions on the country.
Energy

Major Iranian oil field to become operational with $7bn in domestic investment

IFP Editorial Staff -
Iran’s oil minister says the project for development of Azadegan joint oil field in the Persian Gulf, will become operational with a 7-billion-dollar funding by a consortium of mostly private sector investors.
Economy

Iran-Kurdistan Region Trade and Technological Conference held in Sulaymaniyah

IFP Editorial Staff -
The trade conference of Iran and Iraq’s Kurdistan region was held on Monday, July 4, 2022, at Sulaymaniyah’s Titanic Hotel with the participation of 33 Iranian knowledge-based companies and over 100 companies and merchants from the Kurdistan region.
Agriculture

Iranian foundation supporting Inmates through agriculture

IFP Editorial Staff -
A cooperative foundation in northeastern Iran is financially supporting inmates through selling crops of a farmland dedicated to this charity work.
Economy

‘Value of Iran-Turkey trade up by 39% in 1st five months of 2022’

IFP Editorial Staff -
Official data show the value of trade between Iran and Turkey increased by 39 percent to $2.7 billion in the first five months of 2022, up from $1.9 billion during the same period a year earlier.
Economy

Iranian official: Neighbors accounted for 51 percent of Iran’s total exports

IFP Editorial Staff -
The Iranian Customs Organization’s spokesman has said non-oil trade between the country and neighbors in the first quarter of this Persian year was $12.36bn. Seyyed Ruhollah Latifi added that neighbors accounted for 51 percent of Iran’s total exports.
Energy

OPEC says Iran’s oil revenues exceed $25bn

IFP Media Wire -
A report released by the Organization of Petroleum Exporting Countries (OPEC) shows Iran has earned more than $25 billion in revenue from oil exports in 2021.
Energy

Iranian official: Oil swap deals revived after visit by Russian, Kazakh delegations

IFP Editorial Staff -
Iranian Deputy Foreign Minister for Economic Diplomacy says the north-south corridor toward Russia has been launched and following a visit by Russian and Kazakh delegations to the Islamic Republic, oil swap deals were revived.
Energy

Iran says ready to increase oil production to balance market

IFP Editorial Staff -
The Iranian oil minister says the country is ready to increase its crude production to pre-sanctions level to strike a balance in the global market.
Energy

Iran says ready to increase gas swap with Turkmenistan for exports to Azerbaijan

IFP Editorial Staff -
Iranian President Ebrahim Raisi says the country is ready to increase the natural gas swap capacity between Turkmenistan and the Republic of Azerbaijan through Iran.
Economy

China, Russia welcome Iran’s application to join BRICS club

IFP Editorial Staff -
China and Russia have voiced support for an application filed by Iran — which is home to one of the world’s largest oil and natural gas reserves — to become a member of the BRICS alliance of emerging economic powers.
Industry

Hackers attack Iran’s Khouzestan Steel Company

IFP Editorial Staff -
Key Iranian steel producer Khouzestan Steel Company has been targeted with a cyber attack, reports say.
Economy

Iran to roll out pilot version of Crypto-Rial digital currency soon

IFP Editorial Staff -
Iran says it is preparing to roll out a pilot version of its first Central Bank Digital Currency (CBDC), named Crypto-Rial, in around two months, in a development that could transform the country’s financial canvas.
Economy

As reliable partner, Iran can link BRICS to major energy routes: Raisi

IFP Editorial Staff -
President Ebrahim Raisi expresses Iran’s readiness to share all of its capabilities and capacities with the BRICS states to help the five emerging economic powers achieve their objectives, saying Iran, as a reliable partner, can connect them to the world’s main energy routes.
Economy

Source: UK mulling restoration of trade ties with Iran

IFP Editorial Staff -
A spokesperson for the British Prime Minister Boris Johnson’s office has revealed that the UK is weighing mechanisms to facilitate restoration of trade ties with Iran.
Economy

Daily critical of soaring prices of goods in Iran

IFP Editorial Staff -
An Iranian daily says the administration of President Ebrahim Raisi has failed to make good on his promises to keep prices of basic commodities and products in check after removing the subsidies.
Economy

Report: Iran registers highest monthly inflation figure since 1979

IFP Editorial Staff -
Iran’s monthly inflation has hit a four-decade record high of 12.2 percent over the Persian calendar month of Khordad – May 22 to June 21.
Economy

Iran’s foreign trade hits $25.5bn in the first quarter

IFP Editorial Staff -
Iran’s Customs Administration says the country recorded a foreign trade of 25.5 billion dollars in the first three months of the current Persian calendar year that began on March 21.
Economy

Iranians remain among top purchasers of home in Turkey

IFP Editorial Staff -
Latest figures from Turkey’s Statistics Office show Iranians remain among the top purchasers of residential buildings in the country.
Economy

‘Value of Iran-Turkey trade rose by 38% in 1st four months of 2022’

IFP Editorial Staff -
Official data show the value of trade between Iran and Turkey increased by 38 percent to $2.1 billion in the first four months of 2022, up from $1.5 billion during the same period a year earlier.
Media Wire

When visiting Dubai, why should you rent a car?

IFP Media Wire -
Dubai is a magical destination where all of your dreams come true! Staying in opulent residences, partaking in opulent entertainment, and even driving costly automobiles are all part of the luxury lifestyle. In this gorgeous metropolis, you may hire whatever automobile you want and enjoy the thrill of speeding along hidden routes.
Transportation

Report: Turkey blocks Iranian passenger plane from refueling before takeoff

IFP Editorial Staff -
An Iranian passenger plane on route from Istanbul to Tehran has been reportedly forced to make an emergency landing in the northwestern city of Tabriz, after Turkey prevented the flight from refueling on its soil.
Agriculture

Iran’s capital hosting 29th edition of intl. agro-food exhibition

IFP Editorial Staff -
The Iranian capital, Tehran, is hosting the 29th edition of the International Exhibition of Food, Food Technology and Agriculture (Iran Agrofood 2022), which is the largest such event in the Middle East.
Energy

‘Iran’s natural gas exports witnessed 2-percent growth last year’

IFP Editorial Staff -
A report says Iran’s natural gas exports witnessed a 2-percent growth last year, despite the draconian sanctions imposed by the US on the Islamic Republic’s energy sector.
Energy

Iran minister: $1.6bn of Iraq’s overdue gas debt received

IFP Editorial Staff -
The Iranian oil minister has announced that Iraq has paid $1.6 billion of its gas debt to the Islamic Republic.
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