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.
A spokesperson of Iran’s aviation organization says following the visit of the director of Qatar’s aviation organization to Tehran, the two sides signed an agreement for bilateral cooperation during World Cup 2022.
The Food and Agriculture Organization of the United Nations (FAO) has predicted a 13.5-percent rise in Iran’s production of cereals in 2022, which is expected to reach 20.3 million tons.
The governor of the Central Bank of Iran (CBI) says the Islamic Republic and Russia have explored ways, in recent talks, to eliminate the US dollar from their financial transactions in order to facilitate economic cooperation under sanctions.
Iran and Russia have reached an agreement on working to expand their financial and banking cooperation and remove the obstacles in the way of their ties under tough American sanctions.
Iran produced 250 billion cubic meters of gas in 2020, which accounts for 6 percent of the global share and makes up for the loss of its share in the oil market due to sanctions, according to a repot by IRNA.
Deputy Iranian Minister of Roads and Urban Development says an increase in the number of marine transportation fleet in the northern and southern waters is expected to lead to considerable rise in trade with neighboring countries.
The Iranian oil minister says the development of the southwestern Azadegan oil field will generate an income of some $115 billion for the country as well as 24,000 jobs for people.
An Iranian daily has criticized the President Ebrahim Raisi administration for boasting of a policy of economic engagement with regional countries, which “accounts for merely six percent of the world economy.”
Iranian President Ebrahim Raisi says the signing of a memorandum of understanding to invest $7bn in the South Azadegan oil field, in the Persian Gulf, is an example of mobilization of domestic capabilities.
Iran’s deputy minister of roads and urban development says the country and Russia have reached an agreement on the details of carrying 10 million tons of goods from Russia via the north-south corridor of the Islamic Republic.
Iran’s Center of Commerce and House of Innovation and Technology was launched in Sulaymaniyah before noon on Tuesday, July 5, 2022, in a ceremony attended by Iranian and Iraqi Kurdish officials as well as representatives of the private sectors of the two sides.
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.
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.
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.
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.
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.
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.
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.
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.
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.
