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.

Transportation

Russia, China, India after investment in Iranian transit routes as part of INSTC: Deputy min.

IFP Editorial Staff -
Iran’s deputy minister for roads and urban development says Russia, China, and India have sought investment opportunities in an Iranian transit network that, once completed, would be part of the International North-South Transport Corridor (INSTC).
Energy

Saudi Arabia’s energy minister invites Iran to talks over joint Arash gas field

IFP Editorial Staff -
Saudi Arabia’s energy minister says Riyadh has officially invited Tehran to talks over the joint Arash gas field in the Persian Gulf.
Energy

Iranian official: Tehran mulling over gas exports to Europe

IFP Editorial Staff -
An Iranian oil ministry official says the country is mulling over gas exports to Europe, which is facing an energy crisis due to the Ukraine war.
Economy

Iran blocks over 9,000 bank accounts with illegal foreign currency transactions

IFP Editorial Staff -
Iran’s Intelligence Ministry says it has recently blocked more than 9,000 bank accounts suspected of involvement in unlawful transactions of foreign currency and cryptocurrency.
Energy

Business activist: Russia taking over Iran’s share of Chinese oil market

IFP Editorial Staff -
The head of a major Iranian energy union warns that Russia appears to be taking over Iran’s share of the Chinese oil market, saying that Tehran should, in return, try to take the place of Moscow in the European market to prevent a decline in its crude sales.
Economy

CBI chief reports rise in Iran’s foreign currency revenues

IFP Editorial Staff -
The governor of the Central Bank of Iran (CBI) says the country has witnessed a rise in its foreign currency income over the past months and has thus no problem with allocating foreign currency to the provision of essential goods.
Energy

Iran officially invites Kuwait for renewed talks on disputed gas field: Envoy

IFP Editorial Staff -
Iran’s Ambassador to Kuwait says Tehran has officially invited the Arab neighbor to resume negotiations on the dispute over the joint Arash natural gas field in the Persian Gulf.
Economy

Qatari emir’s visit to Iran to herald better future for economic ties: Official

IFP Editorial Staff -
An Iranian official says Qatari Emir Tamim bin Hamad Al Thani’s upcoming visit to Iran will be the start of better economic relations between Tehran and Doha.
Economy

French envoy says trade between Iran, Europe standing at $6.5 billion

IFP Editorial Staff -
The French ambassador to Tehran says volume of trade between the European Union and Iran reached 5 billion euros last year. Philippe Thiebaud said this figure is considerable.
Energy

Iran inks eight cooperation agreements with Venezuela and Nicaragua

IFP Media Wire -
Iranian Oil Minister Javad Owji signed eight major cooperation agreements with Venezuela and Nicaragua during his recent Latin America tour, according to a report published by the local media.
Economy

Prices of some essential items soaring in Iran as govt. eliminates flour subsidy

IFP Editorial Staff -
Iranians have, in recent days, witnessed a steep hike in prices of essential items, mainly wheat-based food, in the aftermath of a government decision to eliminate the subsidy for industrial use of flour.
Energy

‘Iran’s daily production at South Pars gas field to reach 14 mcm by year end’

IFP Editorial Staff -
An official with the National Iranian Oil Company (NIOC) says the gas production capacity at Phase 11 of South Pars, a major natural-gas condensate field in the Persian Gulf, will reach 14 million cubic meters (mcm) per day by the end of this Persian calendar year.
Economy

Official: Goods smuggling surged 20-fold this year

IFP Editorial Staff -
A senior official at Iran’s Ministry of Agricultural Jihad says goods smuggling has surged 20-fold this year compared to the previous year.
Foreign Policy

Iranian oil minister meets Venezuelan president in Caracas

IFP Editorial Staff -
Iranian Oil Minister Javad Oji has held talks with Venezuelan President Nicolas Maudro over ways of neutering the US sanctions against the two countries.
Economy

Official: Iran-Syria trade grew 60% last year

IFP Editorial Staff -
The chair of the Iran-Syria joint chamber of commerce says mutual trade surged by 60 percent in the year to march 2022.
Transportation

Flights to Najaf, Iraq resume at Tehran’s Imam Khomeini Airport

IFP Editorial Staff -
Flights to the Iraqi city of Najaf from Tehran’s Imam Khomeini International Airport have resumed after a one-day delay.
Economy

Iran’s trade with SCO member states grew 33% last year: Official

IFP Editorial Staff -
Iran’s bilateral trade with the member states of the Shanghai Cooperation Organization (SCO) grew 33 percent in the last Persian-calendar year (ended March 20), the Islamic Republic of Iran Customs Administration says.
Transportation

Official: Iran to increase flights to Europe

IFP Media Wire -
Iran’s national airline plans to increase flights to Europe in the current Iranian year (starting on March 21), head of Civil Aviation Organization Mohammad Mohammadi-Bakhsh said on Saturday.
Economy

Iran’s economic growth rate was 5.8% last fall: Central Bank

IFP Editorial Staff -
Iran’s Central Bank has released the economic indices for the third quarter of the last Persian-calendar year (ended March 20).
Finance

‘Iraq to begin repaying energy debts to Iran in days’

IFP Editorial Staff -
The head of the Iran-Iraq Joint Chamber of Commerce says Baghdad will, in the coming days, resume the process of settling the debts owed to Tehran for its energy purchases, as part of an agreement newly reached between the two neighbors.
Transportation

Iran, Russia sign comprehensive railway transit agreement

IFP Editorial Staff -
Iran and Russia have signed a comprehensive railway transit agreement, preparing to significantly ratchet up bilateral ties in transportation.
Economy

Iran registered positive balance of trade last month: Customs official

IFP Editorial Staff -
An Iranian customs official says the Islamic Republic registered a positive balance of trade in the first month of the Persian calendar year (ended April 20).
Transportation

Iran, Russia to discuss increased transportation ties

IFP Editorial Staff -
Iranian Minister of Roads and Urban Development Rostam Qassemi has travelled to Russia to discuss the enhancement of bilateral relations in the area of transportation.
Energy

Iran to end flare burning at plants: Oil minister

IFP Editorial Staff -
Iran’s Oil Minister Javad Oji says the country has signed 28 contracts worth one billion euros (1.065 billion dollars) to end flare burning at its industrial plants.
Economy

Iran, Azerbaijan stress joint economic projects in Azeri liberated areas

IFP Editorial Staff -
An Iranian official says Tehran and Baku have stressed implementing joint economic projects in the recently liberated areas of the republic of Azerbaijan.
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