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

Report: Saudi Arabia likely to boost oil production

IFP Media Wire -
Saudi Arabia may agree to boost oil production to cool skyrocketing prices if Russia’s output falls significantly under the new EU sanctions, according to a report.
Economy

Iran rejects Taliban claim on low-quality gasoline exports

IFP Editorial Staff -
Iran’s Customs Administration has rejected Taliban’s claim that they returned 12 fuel tankers containing low-quality gasoline to Iran.
Energy

Iran seizes ship carrying smuggled fuel

IFP Editorial Staff -
The top judiciary office in Iran’s southern province of Hormozgan says a vessel carrying over 106,000 liters of diesel has been seized near the southern Island of Qeshm, for smuggling fuel.
Economy

Iran says ready to boost trade with Black Sea region

IFP Editorial Staff -
Iranian Foreign Minister Hossein Amir Abdollahian has expressed hope for the expansion of trade between Iran and the Black Sea region.
Economy

‘Value of Iran-Tajikistan trade increased by 463% last year’

IFP Editorial Staff -
An Iranian official says the value of trade with Tajikistan witnessed a 463-percent rise in the past Persian calendar year, expressing hope for a further boost to economic cooperation between the two nations that have many commonalities in different spheres.
Economy

Iranian official: 60%+ rise in oil revenues in first two months of this year

IFP Editorial Staff -
A spokesman for the Iranian oil ministry says oil revenues earned by the country have increased by more than 60% in April and May compared to the same period last year.
Economy

Iranian companies to enter German market

IFP Editorial Staff -
Iran’s Trade Promotion Organization says Iranian businesspeople have held talks with 75 Germany companies to expand economic ties between the two countries. The organization said the negotiations resulted in the signing of a number of agreements.
Economy

Iran, Russia to increase trade volume to 40 billion dollars

IFP Editorial Staff -
Iran’s Oil Minister says annual trade exchanges between the country and Russia will increase 10-fold from the current 4 billion dollars.
Economy

“Value of Iran Exports to Oman can be doubled in years”

IFP Media Wire -
Forecasts suggest that the value of exports from the Islamic Republic of Iran to the Kingdom of Oman can be at least doubled and at most increased five-fold within 5 years. It is estimated that Iran can raise the value of direct and indirect imports from Oman to $1 billion during that time.
Energy

Iran and Russia ink three MoUs on energy and banking

IFP Media Wire -
Tehran and Moscow have signed three major memoranda of understanding (MoU) to expand bilateral cooperation in the fields of energy and banking, Iran’s Oil Minister Javad Owji says.
Economy

Iranian government authorizes private sector to import wheat

IFP Editorial Staff -
The Iranian government’s economic coordination headquarters has issued necessary licenses to facilitate imports of basic goods, particularly wheat, by the private sector.
Economy

Iran says ready to supply Russian auto makers with components

IFP Media Wire -
Iran’s Minister of Industry, Trade, and Mine says Iranian manufacturers are ready to supply the Russian auto companies with car components.
Economy

Iran, Russia eye further expansion of trade, energy ties

IFP Editorial Staff -
Russian deputy prime minister says trade between Tehran and Moscow boosted by 81 percent last year and added the two sides need to further increase their ties to withstand the geopolitical changes.
Economy

Iran, Oman sign MoU on extension of bilateral trade cooperation

IFP Media Wire -
Iranian Trade Minister Seyed Reza Fatemi Amin and his Omani counterpart Qais bin Mohammed Al Yousef have signed an agreement in Muscat on Monday.
Economy

Iran, Kazakhstan mull improving economic relations

IFP Media Wire -
Iran’s Minister of Industry, Mine and Trade Seyed Reza Fatemi-Amin, in a meeting with Deputy Prime Minister and Minister of Trade and Integration of Kazakhstan, Bakhyt Sultanov, described joint ventures as a strategic way to deepen economic relations between the two countries.
Energy

Iran seizes smuggled fuel, 5 arrested

IFP Editorial Staff -
The Iranian police have seized more than 418 thousand liters of smuggled fuel in the Persian Gulf.
Economy

Iran FM calls for increase in trade ties with Bulgaria

IFP Editorial Staff -
The Iranian foreign minister has called for the increase in trade ties between the Islamic republic and Bulgaria. Hossein Amir Abdollahian, raised the issue in a meeting with Ms. Velislava Petrova, Bulgaria’s Deputy Foreign Minister in Tehran on Sunday.
Economy

Govt. rejects reports on fuel prices rise

IFP Editorial Staff -
Iran’s government spokesman has dismissed reports that the president is considering a rise in gasoline prices, after Ebrahim Raisi’s comments on “difficult economic decisions” triggered panic about further economic woes, amid raging inflation.
Energy

Iran, Oman agree to revive natural gas export deal

IFP Editorial Staff -
Iran and Oman have agreed to revive a deal for natural gas exports to the latter and jointly develop Hengam natural gas field in the Strait of Hormuz in the Persia Gulf.
Energy

Qatar FM: Return of Iran crude to market helps stabilize prices

IFP Media Wire -
Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani says the return of Iranian oil to world markets will help stabilize oil prices.
Industry

Iran unveils new homegrown transport plane

IFP Editorial Staff -
Iran has unveiled a new domestically-built transport plane dubbed Simorgh in the presence of Defense Minister General Mohammad Reza Ashtiani.
Economy

Iran’s president unveils 82 projects

IFP Editorial Staff -
Iranian President Ebrahim Raisi has unveiled 82 industrial, construction and agricultural projects in Iran’s free and special trade zones via video conference.
Energy

Iran FM: Energy, transportation major fields for Tehran-Baku expansion of ties

IFP Editorial Staff -
The top Iranian diplomat described the energy and transportation sectors as two major pillars for expansion of economic cooperation between Iran and Azerbaijan Republic.
Energy

Iran oil minister: It takes time for Russia to find oil customers amid sanctions

IFP Editorial Staff -
The Iranian oil minister says it will take time for Russia to find customers for its crude given the tough sanctions imposed on its energy sector by the West, despite the discounts that Moscow offers in the sales.
Architecture

Festival honors traditional cultivation, drinking of tea in Iran’s north

IFP Editorial Staff -
A tea festival has been held in Iran’s northern Caspian-littoral Gilan Province, which is home to the country’s largest tea estates, and where the Iranian tea drinking ritual runs deep.
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