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

Oil prices hit seven-year high over Russia-Ukraine tensions

IFP Media Wire -
Oil prices hit their highest in more than seven years on Monday. A possible invasion of Ukraine by Russia could trigger U.S. and European sanctions that would disrupt exports from the world's top producer in an already tight market.
Energy

OPEC chief hails Iran’s role in world’s oil cartel

IFP Editorial Staff -
Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Mohammad Sanusi Barkindo has hailed Iran’s role in the organization.
Energy

Iranian firms unlock exclusive German software to raise natural gas production

IFP Editorial Staff -
Iranian knowledge-based companies have managed to unlock the software managing pressure of natural gas at Nar and Kangan gas field in the south of the country, raising the production level.
Economy

Baku invites Iranian firms to take part in Karabakh reconstruction

IFP Editorial Staff -
The Azerbaijan Republic says Baku is ready for the participation of Iranian companies in the reconstruction of liberated areas of Nagorno-Karabakh.
Energy

Oil minister: Iran boosting refineries to decrease crude sales

IFP Editorial Staff -
Iran’s petroleum minister says the country is working to promote its oil refineries in terms of both quality and quantity in an effort to decrease the volume of exports in the form crude oil.
Economy

Tehran ‘most unsafe’ Iranian province for investment: Study

IFP Editorial Staff -
A study finds that Tehran was the “most unsafe” province in Iran for investment in the past spring, whereas West Azarbaijan Province in the northeast has been classified as the best spot for that purpose.
Energy

Companies tracking oil sales confirm surge in Iranian crude exports

IFP Editorial Staff -
Three international companies that track oil sales in the world have confirmed a huge increase in Iranian crude exports despite US sanctions.
Economy

Donyaye Eghtesad: Second benefit of car imports

IFP Editorial Staff -
If Iran lifts a car import ban and foreign products worth $500 million are allowed to be imported with a tariff rate of 86%, the government will make 98,000 billion rials in revenue.
Economy

Iran’s service sector inflation rate hits record high

IFP Editorial Staff -
Iran’s service inflation rate reportedly hit a record high in the autumn of 2021.
Economy

Iran parliament sounds alarm over key economic indicators

IFP Editorial Staff -
A report by the Iranian parliament’s center for research show capital inventory will be in the negative zone this Iranian calendar year to March 2022 for the third consecutive year.
Industry

Iran Auto making: A green but controversial tax

IFP Editorial Staff -
The Iranian government plans to levy taxes on cars according to their energy category has caused a controversy and drawn reactions from experts.
Energy

Report: Iraq planning to replace Iran with Qatar for natural gas supplies

IFP Editorial Staff -
Tejarat News reports that Iraq is planning to replace Iran with Qatar as its natural gas supplier.
Energy

Eslami: Iran’s first nuclear power plant saved $6bn

IFP Editorial Staff -
Iran's atomic chief says the country's first nuclear power plant has so far helped the country save six billion dollars.
Transportation

Bushehr-Dubai flights resume after three years

IFP Editorial Staff -
Iran and the United Arab Emirates have resumed flights between Bushehr and Dubai after a three-year halt.
Finance

15th Iran Plast exhibit opens in Tehran

IFP Editorial Staff -
The 15th Iran Plast exhibition, the largest specialized expo on polymers in the Middle East, has opened in the Iranian capital Tehran in a ceremony with the presence of Oil Minister Javad Owji.
Economy

Raisi’s visit to Moscow to enhance Iran-Russia business ties: Official

IFP Editorial Staff -
An Iranian official says the recent visit by President Ebrahim Raisi to Moscow will entail the facilitation of business ties between Iran and Russia.
Economy

Iran interior minister calls for development of border markets with Pakistan

IFP Editorial Staff -
Iran’s Interior Minister Ahmad Vahidi says necessary capacities exist to strengthen cooperation, especially economic exchanges between Iran and Pakistan.
Economy

Iran-China trade hits $14.8bn in 2021

IFP Editorial Staff -
Trade between Iran and China, in 2021, hovered around $ 14.8 billion, of which $6.5 billion accounted for the latter’s imports from its trade partner.
Energy

Iran confirms Russia to invest in a southern power plant

IFP Media Wire -
Moscow has accepted Tehran’s demand for investing 73 million euros in Sirik power plant in southern Iran, an Iranian official says.
Economy

Turkey’s inflation soars to two-decade high

IFP Editorial Staff -
The annual inflation rate in Turkey has surged to a 20-year high of 48.7%, state data revealed on Thursday.
Transportation

“China and Russia to invest in Iran aviation infrastructure”

IFP Editorial Staff -
The Head of Iran Airports and Air Navigation Company says negotiations are underway with China and Russia for the construction of new airports and supply of parts and systems needed in the aviation sector.
Finance

Iran official: Russia allocates 5bn euros for joint projects with Iran

IFP Editorial Staff -
An official with Iran's Thermal Power Plant Holding says the Russian government has allocated five billion euros in loans and credit lines for the implementation of a number of joint projects with the Islamic Republic.
Energy

‘Iran oil supertanker discharging 2mln barrels in Venezuela’

IFP Media Wire -
An Iranian supertanker carrying about 2 million barrels of condensate began discharging at Venezuelan state-run oil company PDVSA's main oil port, according to a company document and tanker tracking services.
Europe

Russia says to retaliate possible UK sanctions

IFP Media Wire -
Kremlin spokesman Dmitry Peskov stated that UK's plans to target Russia with sanctions are not legitimate. He noted any such aggression will bring about countermeasures from Moscow.
IFP Exclusive

TPO: Iran to use its funds in Iraq to import products

IFP Editorial Staff -
The Trade Promotion Organization (TPO) said Iran can now use its funds in Iraq to import commodities.
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