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.
March 2020 has seen unprecedented changes in the price of oil, with a variety of factors from Coronavirus and the price war between Russia and OPEC+ knocking prices per barrel down, and subsequent US economic decisions working to temporarily bolster said prices again.
Iran’s Vice President for Science and Technology says with the help of knowledge-based companies, different types of mask production machines are being made in the country.
Iranian President Hassan Rouhani says some 750 trillion rials (around $5 billion) will be made available to businesses affected by the coronavirus outbreak.
A senior Iranian official says all national resources have been utilized to produce face masks, disinfectants and other medical equipment amid the coronavirus outbreak in the country.
Iran’s first vice president says owners of small businesses who have been affected by the coronavirus outbreak should rest assured that their losses will be compensated.
Iran’s representative in the International Monetary Fund (IMF) says the World Bank has excluded the Islamic Republic from a gathering on the battle with coronavirus.
Spokesperson for the Ministry of Foreign Affairs of the Islamic Republic of Iran Seyyed Abbas Mousavi says the Ministry has launched efforts to settle the problems that Iranian truck drivers may be facing in the other countries, as in Europe.
Iran’s First Vice President Es’haq Jahangiri says the government has made decisions to compensate for the economic impacts of the coronavirus outbreak on the lives of the poor.
Iran’s President has sent the "National Budget Law for the New Fiscal Year" to the Plan and Budget Organisation of the Islamic Republic to be implemented.
Iranian President Hassan Rouhani has assured people that all needs for medical and health products and foodstuff would be fully satisfied by the administration amid the outbreak of coronavirus, saying the cabinet has made major decisions to support the businesses and individuals affected by the disease.
Iran’s deputy industry minister says the production, supply, and distribution of the people's urgent needs, especially those related to the COVID-19 disease will not be interrupted with the beginning of efforts to clear the streets.
Iranian First Vice President Eshaq Jahangiri has issued an order to provide special support for the female-householder families and mitigate the harmful effects of the novel coronavirus outbreak on them.
Iran’s flag-carrier airline Homa, also known as Iran Air, says all its flights to Europe has been suspended until further notice over restrictions imposed by European countries.
A Swiss senior official has said that the financial channel between Switzerland and Iran has had a flying start as 50 companies have expressed keenness to trade through the so-called humanitarian channel.
Iranian Petroleum Minister Bijan Zangeneh says an OPEC meeting on Friday was one of the group’s “worst ever” after it failed to reach an agreement on more oil cuts.
Iran’s Ambassador to Russia Kazem Jalali says Europe's special financial mechanism, which was supposed to facilitate trade with Iran in the face of US sanctions, have been of no use since its launch.
The Ministry of Foreign Affairs of the Islamic Republic of Iran has held a meeting in Tehran to examine and resolve the problems in the course of trade exchange with the neighboring states.
The CEO of a major hygienic products company in Tehran says the company is ready to produce 90 tonnes of disinfectant gel and liquid daily to fight against coronavirus.
Iran's Health Ministry spokesman says the country's defence ministry experts have developed coronavirus testing kits, which will be mass produced in coming days.
