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.
An Iranian official expressed hope plans to ditch dollar in bilateral trade between Iran and India would soon go into effect, allowing the two countries’ private sector companies to cooperate to realize a trade target of $30 billion.
A young Iranian man from the city of Maku in West Azarbaijan province has succeeded in creating planting conditions similar to Mars in order to cultivate saffron without using soil. He has spent only $ 500 USD to work on this initiative.
Iran’s foreign ministry spokesman Bahram Qassemi says the Foreign Minister of the Islamic Republic Mohammad Javad Zarif will visit India on Monday January 7, at the head of a high-level political and economic delegation.
The governor of the Central Bank of Iran says the body has submitted a proposal to the government to remove four zeroes from the national currency, reviving a shelved plan to keep up with rampant inflation.
The spokesman for Iran’s Foreign Ministry has cautioned the European Union it should be quick to take measures to salvage the 2015 nuclear deal, since Iran is running out of patience with Europeans due to their failure to fulfill pledges to compensate for the US withdrawal.
France as one of the signatories to the nuclear deal, which had promised to protect Iran's foreign trade against US sanctions along with two European countries of Germany and the UK, has stopped oil imports from Iran in September before oil sanctions come into force.
Iran’s state arbitration body has approved a bill to amend Iran’s anti-money laundering law in compliance with the Financial Action Task Force guidelines, pushing Iran closer to meeting the requirements for getting out of the global standard setter’s black list.
Iranian Energy Minister Reza Ardakanian says the Islamic Republic will keep up exporting electricity to Iraq to satisfy vital needs of the neighbouring nation.
The state budget for the new Iranian year starting on March 21 assumes $21 billion of oil revenues, about 28 percent lower than this year's budget, Government spokesman Mohammad Reza Nobakht has said.
An official says although the European mechanism to keep economic ties with Iran despite US sanctions has not yet been implemented, a number of European firms have contacted Iranian officials to plan to establish business ties with the country.
Iran’s President Hassan Rouhani has appeared before lawmakers on Tuesday to submit an annual budget of $47.5 billion for the next Iranian calendar year (to start on March 21).
Iranian Minister of Roads and Urban Development Mohammad Eslami has held talks with Turkish officials over the revival of the ancient Silk Road as well as the expansion of transportation ties between the two sides.
Iranian President Hassan Rouhani and his Turkish counterpart Recep Tayyip Erdogan have explored avenues for expanding business cooperation in a meeting in Ankara on Thursday.
Finland says its small- and medium-sized companies are still interested in promoting their business cooperation with Iran, but are waiting for the European Union to establish its special payment mechanism, known as Special Purpose Vehicle (SPV), to facilitate trade with Iran under the US bans.
Israel’s accession to the global anti-money laundering makes it more difficult for Iran to join the Financial Action Task Force, an Iranian media outlet said, arguing for quicker approval of parliamentary legislations required for Iran getting out of the body’s black list.
