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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.

Media Wire

Swiss Companies Urged to Keep Doing Business with Iran

IFP Media Wire -
The Swiss government has promised to defend the economic interests of its companies that are active in Iran and would be targeted by renewed US sanctions, recommending that they go on with their business in the Islamic Republic.
IFP Exclusive

Iranian Researchers Develop Luminous Fibres for Rugs, Carpets

IFP Editorial Staff -
A group of Iranian researchers have developed luminous fibres which could be used in the production of rugs and carpets.
IFP Exclusive

Bank Account of Iranian Embassy in London Reopened

IFP Editorial Staff -
An Iranian official has confirmed media reports that the Islamic Republic’s embassy in London has been allowed to reopen its bank account which had been closed for years due to the international sanctions.
IFP Exclusive

Return of US Sanctions Real Chance for Economic Modernization: Iran

IFP Editorial Staff -
Iran’s Parliament Speaker Ali Larijani says the snapback of US sanctions could be a good chance for renovating the Iranian economy, if the Iranian people decide to stand on their own feet and move to boost domestic production.
IFP Exclusive

Iran Unveils New Policies to Restore Calm to Forex Market

IFP Editorial Staff -
Abdolnasser Hemmati, the newly-appointed governor of Iran’s Central Bank, unveiled a package of measures to rein in the recent turbulence in foreign currency market in Iran.
IFP Exclusive

Arab Pilgrims Exchanging Currencies in Iranian Streets

IFP Editorial Staff -
The three-month closure of currency exchange offices in the holy city of Qom in central Iran has prompted many ordinary people and even foreign pilgrims to turn to the city’s streets to exchange their money and even earn a livelihood.
IFP Exclusive

Rouhani to Appear before Parliament to Reveal “Truths” behind Economic Crisis

IFP Editorial Staff -
Iranian President Hassan Rouhani has decided to go to the Parliament to respond to the lawmakers’ questions about the Iranian economy, planning to use the opportunity to reveal “truths” behind the country’s conditions.
IFP Exclusive

IRGC Confirms Reports of Holding Naval Drill in Persian Gulf

IFP Editorial Staff -
The spokesman for Iran’s IRGC confirmed on Sunday that Iranian forces have successfully staged a drill in Persian Gulf earlier this week, saying the maneuver was carried out as part of the IRGC’s annual schedule.
IFP Exclusive

New ATR Planes Land in Tehran on Eve of US Sanctions

IFP Editorial Staff -
Five turboprop ATR planes purchased by Iran under a 2017 agreement landed in Tehran on Sunday, on the eve of the re-imposition of the first batch of US sanctions that will most probably block further plane deliveries.
IFP Exclusive

5 ATR Passenger Planes to Join Iran’s Air Fleet

IFP Editorial Staff -
Five brand new civilian aircraft manufactured by the French plane-maker ATR will join the Islamic Republic of Iran’s air fleet on August 5, 2018.
IFP Exclusive

Iran, Sri Lanka Discuss Promotion of Energy Ties

IFP Editorial Staff -
Iran’s Foreign Minister Mohammad Javad Zarif and his Sri Lankan counterpart have conferred on expansion of bilateral ties between the two countries in various fields, especially in energy.
IFP Exclusive

Iranian Lawmakers Summon President amid Economic Crisis

IFP Editorial Staff -
After several failed attempts, Iranian lawmakers for the first time mustered enough votes on Wednesday to summon President Hassan Rouhani to answer their questions in coming weeks over issues related to his handling of the country’s struggling economy.
IFP Exclusive

Iran Develops Device for Identifying Rotten Trees

IFP Editorial Staff -
Iranian researchers have managed to develop a machine that identifies the decay rate of trees, thereby determining the probability of their collapse.
IFP Exclusive

“Iranian Government to Resolve Economic Crisis Soon”

IFP Editorial Staff -
Iran’s First Vice-President Es’haq Jahangiri says the new economic conditions in Iran will not continue and the government plans to introduce a new foreign currency package to deal with the situation.
IFP Exclusive

Gov’t under Pressure to Do More to Stop Rial’s Historic Plunge

Alireza Hashemi -
The Iranian government is under great pressure to take more steps to normalize what the Central Bank calls “unusual” economic conditions, as the country grapples with a flagging economy and the national currency slides to record lows.
IFP Exclusive

Iranian Welder Bravely Struggles for Her Life

IFP Editorial Staff -
In life, failures come easy, and success is hard won. However, the drive to work hard makes even the impossible possible. Such is the story of a young woman who made significant strides to realise her ambition of becoming a welder and eventually succeeded.
IFP Exclusive

14% Rise in Iran’s Non-Oil Exports despite US Pressures

IFP Editorial Staff -
The Islamic Republic of Iran Customs Administration (IRICA) has released details of the country’s foreign trade, which show during the first four months of current Iranian year the value of Iran’s non-oil exports has risen by over $30 billion.
IFP Exclusive

“Iran to Reciprocate If Its Interests Jeopardized by Enemies”

IFP Editorial Staff -
An IRGC commander says it will be “natural” for Iran to respond if the US tries to the bully the country and carry out its threat to cut down Tehran’s oil exports.
Media Wire

Saudi Arabia Suspends Oil Exports via Bab el-Mandeb Strait

IFP Media Wire -
Riyadh has temporarily suspended all oil shipments through the Bab el-Mandeb Strait after Yemen’s Houthi Ansarullah movement launched retaliatory attacks on a Saudi warship and a vessel operated by the Riyadh-led coalition waging war the Arabian Peninsula state.
IFP Exclusive

IRGC to Equip Su-22 Fighter Jets with Long-Range Cruise Missiles

IFP Editorial Staff -
Commander of the Islamic Revolution Guards Corps (IRGC) Aerospace Force says experts at his division have successfully overhauled and upgraded 10 Russian-made Sukhoi Su-22 fighter jets and plans to equip them with cruise missile that have a range of 1,500 km.
IFP Exclusive

Iran Can Block Global Oil Exports Whenever It Wants: IRGC

IFP Editorial Staff -
IRGC Chief-Commander Major General Mohammad Ali Jafari has warned the US of the consequences of its efforts to cut Iran’s oil exports, saying that all oil transportation passageways are within Iran’s reach.
IFP Exclusive

Hemmati Appointed New Governor of Iran’s Central Bank

IFP Editorial Staff -
Abdol-Nasser Hemmati, a former head of Iran’s Central Insurance, has been appointed as the new governor of the Central Bank of the Islamic Republic of Iran.
IFP Exclusive

US Sanctions on Iran; Big Test for Erdogan

IFP Editorial Staff -
The Trump administration is engaged in intensive talks to persuade its European, Asian, and Middle Eastern allies to go along with US sanctions on Iran in a bid to increase pressure on Tehran, but it has yet to convince Turkey, a very important player in the region, to comply with its decision.
Media Wire

Sri Lanka Ready to Pay Its Oil Debts to Iran with Tea

IFP Media Wire -
Sri Lanka says it is considering a plan to settle payments to Iran for previous oil purchases by exporting tea to the country at equivalent values.
IFP Exclusive

Iranian Refinery Signs Contract with German Firm

IFP Editorial Staff -
The Tabriz oil refinery has reached a deal with a consortium involving Iranian and German firms to renovate its sulphur recovery unit.
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