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.

Security

IRGC seizes foreign tanker carrying smuggled fuel in Persian Gulf

IFP Editorial Staff -
The naval forces of Iran’s Islamic Revolution Guards Corps (IRGC) have seized a foreign-flagged tanker carrying 200,000 liters of smuggled fuel in the Persian Gulf.
Economy

Private sector official urges government help to boost trade with Turkey

IFP Editorial Staff -
Chairman of the Joint Chamber of Commerce of Iran and Turkey has called for a “positive” attitude of the government to trade with neighboring countries, saying this can remove political problems and trade barriers and will help expansion of economic ties.
Agriculture

210 tons of roses harvested in Iran’s northeastern town

IFP Editorial Staff -
Farmers have harvested 210 tons of roses in a small town in Iran’s northeast in order to produce rosewater.
Economy

Value of Iran-China trade increases to $3.85bn in 3 months

IFP Editorial Staff -
The value of trade between Iran and China reached $3.85 billion in the first three months of 2022, up by 18 percent compared with the same period last year, new data show.
Economy

Iran’s exports to Africa grow by 107%

IFP Editorial Staff -
Iran’s exports to Africa grew by 107% during the last Iranian calendar year which ended on March 20, the director general of the Arab and African Office of Iran's Trade Promotion Organization has said.
Energy

Iran’s oil-rich south at highest readiness level to produce crude: Official

IFP Editorial Staff -
The National Iranian South Oil Company (NISOC) says Iran’s oil-rich south is at the highest level of readiness to produce crude.
Energy

Oil minister: Iran earned $43 billion in oil revenues last year

IFP Editorial Staff -
Iran’s Oil Minister Javad Oji says the Islamic republic earned $43 billion in oil revenues in the Persian year of 1400 which ended on March 20.
Economy

Iran official calls for deepening trade ties with Russia in the wake of war

IFP Editorial Staff -
The head of Iran’s Trade Promotion Organization has predicted it’s highly likely the Ukraine war will drag on and further sanctions will be slapped on Russia.
Middle East

Iraqi PM forms working group to visit Iran for energy talks

IFP Editorial Staff -
Iraq’s Prime Minister Mustafa al-Kadhimi has assigned a working group to make necessary coordination to resolve technical problems of Iraqi power plants that work with Iranian gas.
Economy

Iran pursuing talks on release of frozen assets

IFP Editorial Staff -
The Central Bank of Iran (CBI) has announced fresh details on the unfreezing of the country’s assets, blocked due to the US sanctions.
Sport

‘Vice-president of Iran’s Football Federation arrested’

IFP Editorial Staff -
The vice-president of the Iranian Football Federation has been reportedly arrested by Iranian Intelligence Ministry agents in connection with a cryptocurrency scam.
Economy

Iranian minister of economy cancels US visit and World Bank meeting

IFP Editorial Staff -
Iran’s minister of economy has cancelled his visit to the US due to a delay on the part of American officials to issue visa for Seyyed Ehsan Khandouzi and his entourage.
Incidents

Istanbul-Tabriz flight reroutes due to strong winds

IFP Editorial Staff -
A commercial aircraft carrying 161 passengers from the Turkish city of Istanbul to Iran’s northwestern Tabriz City had to reroute to another destination due to strong winds in the Iranian city.
Economy

Iran’s trade rises 3-fold in Q1 of 2022: Customs

IFP Editorial Staff -
Iran’s Customs Administration says the country’s foreign trade registered a more than three-fold increase in the first quarter of 2022 year on year.
Energy

IRGC seizes ship smuggling fuel in Persian Gulf

IFP Editorial Staff -
The Islamic Revolution Guards Corps’ Navy has seized a vessel carrying 250 thousand liters of smuggled fuel in the Persian Gulf.
Economy

Iran-Oman trade sets new record high of roughly $1.34bn

IFP Editorial Staff -
The volume of trade between Iran and Oman has registered a record high of $1.336 billion for the year ending March, 2022.
Finance

Amir Abdollahian: Initial agreement reached to release frozen Iran assets

IFP Editorial Staff -
Iran’s Foreign Minister Hossein Amir Abdollahian says a primary agreement has been reached to release Iran’s assets that have been frozen in a foreign bank due to the US sanctions.
Industry

Iranian major tire production factory goes bankrupt

IFP Editorial Staff -
A major car tire production factory on a suburb of the Iranian capital Tehran has gone bankrupt. Kian Tire which is in Chahar Dangeh town near Tehran was launched before the Islamic Revolution of 1979.
Transportation

Kish-Tehran flight makes emergency landing due to technical glitch

IFP Editorial Staff -
An Iranian passenger plane en route from the Persian Gulf Island of Kish to the capital, Tehran, made an emergency landing halfway due to a technical fault in the aircraft’s fuel delivery system.
Economy

Iran trade with neighbors grows to $52bn

IFP Editorial Staff -
The value of Iran’s trade with neighboring countries grew 43% percent last Iranian calendar year, compared to the previous one, which ended on March 20.
Transportation

Iran, Qatar sign three aviation cooperation agreements

IFP Editorial Staff -
Iran and Qatar have signed three cooperation agreements on aerial transportation during the the FIFA World Cup 2022 finals.
Economy

“$7bn in frozen Iranian assets to be released”

IFP Editorial Staff -
Iranian Foreign Ministry Spokesman Saeed Khatibzadeh has confirmed reports that $7 billion in Iranian assets, frozen in foreign banks due to the US sanctions, are going to be released.
Economy

Report: $7bn in Iranian frozen funds likely to be released

IFP Editorial Staff -
A regional official, identified in a Tasnim News Agency report as “possibly Oman’s foreign minister”, will travel to Tehran on Tuesday to finalize the mechanism for the release of seven billion dollars in frozen Iranian assets.
Economy

Domestically built refinery begins exporting different products

IFP Editorial Staff -
The head of Iran’s Qeshm Free zone has announced the loading of the first shipment of products from Behin Palayesh Qeshm Ultra-heavy Refinery this year amid US sanctions.
Economy

Iran, Russia sign deal for cooperation in exhibition industry

IFP Editorial Staff -
Iran and Russia have signed an agreement to expand bilateral cooperation in the exhibition industry, as the two countries work to promote commercial ties and investments.
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