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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.

IFP Exclusive

‘Seoul Keen to Keep Good Ties with Tehran despite Sanctions’

IFP Editorial Staff -
South Korean Foreign Minister Kang Kyung-wha has expressed her country’s willingness to maintain its friendly relations with the Islamic Republic of Iran despite the anti-Iran pressures.
IFP Exclusive

Iran Gov’t Urges Quick Approval of FATF as Deadline Approaches

IFP Editorial Staff -
A senior government official has argued for quick approval of two parliamentary bills required for Iran to get out of the blacklist of the global anti-money laundering body (FATF), saying Iran should not put its foreign relations at risk at a time when the US is bent on hurting the country’s foreign relations.
IFP Exclusive

Foreign Ministry Explains Why Iran Not Invited to FATF Meeting

IFP Editorial Staff -
Iranian Foreign Ministry Spokesman Bahram Qassemi has reacted to media reports about the reason why Iran has not been invited to attend an upcoming meeting of the Financial Action Task Force (FATF) in Paris.
Media Wire

Iran Signs MoU with Russia, Kazakhstan for Free Trade

IFP Media Wire -
Russia, Kazakhstan and Iran have signed a memorandum of understanding for cooperation in wheat trading, taking another step towards setting up a free trade zone.
Media Wire

‘US Coup Attempt in Venezuela Aimed at Dominating Oil Resources’

IFP Media Wire -
The Iranian deputy ambassador to the UN said the purpose of an American coup in Venezuela is to dominate the Latin American nation's oil resources.
IFP Exclusive

Iran’s Oil Revenues Increase by 49% despite US Bans

IFP Editorial Staff -
In spite of US sanctions to bring Iranian oil exports to zero, statistics show that in the first nine months of the current Iranian year, the Islamic Republic has managed to yield $6.5 billion from crude oil sales, up 48.9% year-on-year.
IFP Exclusive

Iran’s Economy to Undergo Structural Changes upon Leader’s Order

IFP Editorial Staff -
A senior lawmaker says Iranian officials will in coming weeks start debating a structural shakeup of the economy, which had been stressed by Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei.
IFP Exclusive

Iran’s Gas Production at South Pars Joint Field Exceeds Qatar’s

IFP Editorial Staff -
Iran’s oil minister says the country’s gas production at the biggest gas field worldwide, South Pars, is now exceeding that of Qatar.
IFP Exclusive

Iran Turns Dream into Reality by Unveiling Its Own Cryptocurrency

IFP Media Wire -
They say every dream begins with a dreamer. But dreams cannot be realized through miracles and magic. They take hard work, determination, and lots of sweat. This is the current state of Iran. What started as a dream in the summer of 2018 seems to have become a reality as the country just unveiled a state-backed cryptocurrency.
Media Wire

Iraq Allows Iranian Traders to Open Accounts in Its Banks

IFP Media Wire -
Iranian traders can open accounts with Iraqi banks to carry out their transactions under a new payment system between the two countries, Iran's central bank governor Abdolnaser Hemmati said Wednesday.
IFP Exclusive

EU’s INSTEX Not to Affect Iran’s FATF Approach, Officials Say

Alireza Hashemi -
Last week’s announcement by European powers that they are to launch a financial mechanism for Iran-EU trade would not affect Iran’s approach on joining the Financial Action Task Force (FATF), two Iranian officials said.
IFP Exclusive

Iran Welcomes Implementation of Europe’s Financial Mechanism

IFP Editorial Staff -
Iranian Foreign Ministry Spokesman Bahram Qassemi says Tehran welcomes the EU’s announcement of its special financial mechanism for trade with Iran, but considers it as a first step that should be followed by quicker implementation of other commitments.
IFP Exclusive

EU Announces Special Mechanism for Trade with Iran

IFP Editorial Staff -
The European Union has announced a long overdue special mechanism, called INSTEX (Instrument for Supporting Trade Exchanges), aimed at facilitating trade with the Islamic Republic of Iran in the face of the US sanctions.
IFP Exclusive

‘US Exit of Nuclear Deal Makes Tehran Hesitant Regarding FATF’

IFP Editorial Staff -
The US withdrawal from the 2015 Iran nuclear deal, for which Iran made lots of concessions, conjures up "bitter memories" that makes Iran undecided to give further concessions to anti-money laundering and terrorism laws, a former MP and political analyst said.
IFP Exclusive

Shipping Line Between India and Chabahar Port Established

IFP Editorial Staff -
The first Indian cargo entered Chabahar’s Shahid Beheshti Port on Sunday, formally establishing shipping lines between India’s port and the strategic Iranian port.
IFP Coverage

Japanese Firms Continue Purchasing Iranian Oil as Tokyo Says Crude Imports Untouched

IFP Editorial Staff -
The Japanese firm Cosmo Oil has become the latest Japanese refiner to start loading crude oil cargo from Iran, as Japanese Officials vow crude imports from Iran will be untouched despite US sanctions.
IFP Exclusive

Iranian-Built 1930 Mercedes Benz Looks Perfectly Original

IFP Editorial Staff -
A man from Isfahan in central Iran has built from the ground up a handmade copy of a rare vintage car, a luxurious 1930 Mercedes-Benz.
IFP Exclusive

Iran’s Not Joining FATF Detrimental: Official

IFP Editorial Staff -
A senior Iranian official says if Iran does not join the Financial Action Task Force (FATF) that would mean the country will be deprived of selling oil, even to China.
IFP Exclusive

‘EU Could Show Good Faith by Running Bank to Keep Ties with Iran’

IFP Editorial Staff -
An Iranian lawmaker says the EU decision to launch a special financial mechanism to keep trade ties with Iran despite US sanctions was not made in a good-faith gesture.
IFP Coverage

Can Iran Survive US Sanctions on Trade?

IFP Media Wire -
As Iran appears to have a difficult year ahead with the “harshest-ever” sanctions imposed by the Trump administration, the question that everyone is asking is can Tehran survive the US bans?
IFP Exclusive

Switzerland Runs Payment Channel for Iran Drug Trade

IFP Editorial Staff -
The Swiss government has finalised an independent payment mechanism for trade with Iran, which could be used to import drug and grain to the country.
IFP Exclusive

Iran’s Parliament Speaker Says US Oil Sanctions on Iran Futile

IFP Editorial Staff -
The speaker of Iran’s parliament said the US has failed to cut down to zero Iran’s oil trade, in a clear defeat for Donald Trump administration in its maximum pressure campaign against Tehran.
IFP Exclusive

Tomato Harvest Begins in Southern Iran

IFP Editorial Staff -
Hormozgan province in south of Iran these days provides most of the country's tomatoes, and the largest part is produced in Parsian county in the west of the country.
IFP Exclusive

Iran Calls Germany’s Ban of Mahan Air “Unjustifiable”

IFP Editorial Staff -
Iranian Foreign Ministry Spokesman Bahram Qassemi has described as hasty and unjustifiable the decision made by Germany to withdraw landing permission for Iran’s Mahan Air and said the move breaks the spirit of long-standing relations underway between Iran and Germany.
IFP Exclusive

Iranian Firm Ready to Develop Chabahar’s Second Phase

IFP Editorial Staff -
An IRGC-affiliated firm has announced readiness to develop the second phase of Chabahar port in southern Iran.
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