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.
Iranian assets that had been blocked in South Korea were transferred to Switzerland's central bank last week for exchange and transfer to Iran, South Korean media reported on Monday.
China's ambassador to Iran says the two countries are at the peak of their cooperation, voicing hope that with the efforts of the Iranian and Chinese presidents, bilateral relations will improve more than ever.
An American-owned oil tanker long suspected of carrying Iranian crude oil began offloading its cargo near Texas late Saturday, tracking data shows. Tehran has previously warned against any move to discharge the cargo.
Iran’s First Vice President Mohammad Mokhber has stated that 67 oil and gas projects will be put into operation by the end of the current Iranian calendar year (March 19, 2024).
Tehran has received the “necessary guarantees” that its assets blocked abroad due to the US sanctions will be unblocked under an agreement mediated by regional friends, Iranian Foreign Ministry Spokesperson Nasser Kanaani told reporters on Monday.
While Iranian officials have rejected reports that the government is planning to increase gasoline prices at the pump, unofficial sources have not ruled out the price hike.
Governor of the Central Bank of Iran Mohammad Reza Farzin has stated that Iranian funds recently unblocked in South Korea as part of a prisoner swap agreement with the United States will be deposited to accounts held by Iranian banks in Qatar despite reports suggesting that Qatar’s central bank will have control over the funds.
Iran and Armenia have signed a new agreement to export Iranian gas to the former Soviet republic. The agreement was signed in a ceremony in the Armenian capital Yerevan with Majid Chegini, Iran’s Deputy Oil Minister, and Mehdi Sobhani, Iran’s Ambassador To Armenia and Sanusian, Armenian Minister of Regional Management and Infrastructure being in attendance.
The Iranian Foreign Ministry says the process of releasing billions of dollars from the assets of the Islamic Republic of Iran, which were illegally seized in South Korea by the United States for several years, has begun.
The head of National Iranian Oil Company and deputy petroleum minister says Iran’s production of crude oil will surpass 3.5 million barrels per day by the end of September in a new blow to US sanctions on the Islamic Republic.
Iranian Foreign Minister Hossein Amirabdollahian will leave Tehran for Pretoria, South Africa, later on Wednesday to take part in a joint economic commission scheduled to be held on Thursday after a three-year pause due to COVID-19 outbreak.
A top member of Iran’s parliament has warned that Tehran has many options to force South Korea to pay back over $7 billion of Iranian funds that have remained blocked in the Asian country under the pretext of compliance with US sanctions.
Iran reported a major surge in domestic wheat purchases with an official in the country’s agriculture ministry (MAJ) stating the purchases have risen by 37% in the harvest period between April and early August compared to the same period last year.
The total electricity produced at Iran’s only nuclear power plant after some 12 years of activity has reached 60 billion kilowatt hours (kw/h), according to Head of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami.
The shutdown of Iran’s e-commerce giant, Digikala, came to an end on Thursday afternoon after the relevant authorities lifted the ban they had imposed on the online retailer.
Referring to Iran's joint oil and gas fields with the neighboring countries in the Persian Gulf, the Iranian Minister of Petroleum stressed: "We will not budge an inch on Iran's exploitation rights in the Arash gas field."
Iranian Vice President for Legal Affairs Mohammad Dehqan says the Islamic Republic is also pursuing the recovery of payments owed by Bahrain besides those of South Korea.
Iranian oil output has increased by nearly 1 million barrels per day (bpd) since August 2021 and has now reached the highest level in almost five years at 3.1 million bpd, according to a report.
Iran’s crude oil exports to China have tripled over the past three years, up from 324,000 barrels per day in 2020 to approximately one million this year despite US sanctions targeting the Iranian oil exports, the latest figures by data analytics firm Kepler have showed.
Iranian Minister of Petroleum Javad Owji stressed that the Islamic Republic of Iran always supports the amicable settlement of border and maritime disputes, including those over the Persian Gulf Arash gas field with its neighbors.
The International Monetary Fund (IMF) has revised up its 2023 economic growth forecast for Iran amid its better oil exports and despite the continued pressure of the US sanctions.
A member of the Presiding Board of the Iran-Russia Joint Chamber of Commerce says Iran missed an opportunity to attract the investments of Russian businesspeople after the war in Ukraine.
Iran and India are expected to ink a long-term agreement for the development of Iran’s Chabahar Port by September before the Global Maritime India Summit 2023 scheduled to be held in New Delhi in October, two people familiar with the matter have stated.
Iranian President Ebrahim Raisi has forwarded to the Parliament a motion to appoint arbiters in a dispute with South Korea over frozen Iranian assets in the East Asian country.
