August 4, 2018

Infographic: Iranian Startups and Their International Equivalents

Iran, due to its international relations has a unique startup ecosystem. Unlike many other nations, Iranians have their own local version of international startups. Marketplace business model is getting most of the traction in the country as it’s empowering many businesses and individuals. Here is an infographic of some of the well-known Iranian startups and their international equivalents.

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August 4, 2018

Stock market deals value rises 40% in a month

TEHRAN- The value of deals in Iran’s stock market during the past Iranian calendar month Tir (June 22-July 22) rose 40 percent to stand at 96.86 trillion rials (about $2.176 billion), Tasnim news agency reported.
August 4, 2018

Passenger car manufacturing up 4.5% in a quarter on year

TEHRAN- Passenger car manufacturing in Iran rose 4.5 percent during the three-month period from the beginning of current Iranian calendar year (March 21) compared to the same time span in the past year.
August 4, 2018

Daily gasoline output to hit record of 95.5m liters in coming days

TEHRAN- Iran’s daily gasoline production will hit the record of 95.5 million liters in the coming days, director for consolidated planning in National Iranian Oil Products Distribution Company (NIOPDC) announced.
August 4, 2018

Iran’s exports to Iraq rise 25% in 4 months yr/yr

TEHRAN- The value of Iran’s exports to Iraq increased 25 percent during the first four months of the current Iranian calendar year (March 21-July 22) compared to the same period of time in the past year, the secretary general of Iran-Iraq Joint Chamber...
August 4, 2018

400km of railways to connect mines, industrial & loading hubs

TEHRAN- Some 400 kilometers of railways are under construction throughout the country for connecting mines as well as industrial and cargo loading/unloading hubs to the national railway network, according to an official in the Islamic Republic of Iran ...
August 4, 2018

India’s Iranian oil intakes jump to record high in July

TEHRAN - India’s crude oil imports from Iran increased by about 30 percent to a record 768,000 barrels per day (bpd) in July, Reuters reported citing tanker arrival data.
August 4, 2018

Market looking forward to CBI foreign currency package

The Central Bank of Iran (CBI) launched a secondary currency market on July 3, 2018, in a bid to renovate its foreign currency system, reign the currency rates, reinforce exports, improve cooperation with foreign currency exchange shops, and to ease a ...
August 4, 2018

Iran, Oman Eye Military Medicine Cooperation

Military officials from Iran and Oman met in Tehran to discuss the ways to launch cooperation between the Armed Forces of the two sides in the medical sphere. A delegation from the medical department of Sultan of Oman’s Armed Forces, chaired by Colonel Dr. Ali bin Salem al-Harethi, held a meeting with the Islamic Revolution […]
August 4, 2018

Iranian, Turkish Banks to use National Currencies in Trade

Iran’s Deputy Minister of Industry, Mine and Trade Sadeq Najafi announced that the two countries have reached an agreement on the exchange of Turkish lira with Iranian rial in banking transactions. Speaking to reporters on the sidelines of the 24th round of Electronic, Computer and E-Commerce Exhibition (Elecomp 2018) in Tehran on Monday, Najafi said […]
August 3, 2018

Germany stops cash transfer to Iran amid EU package to counter U.S. JCPOA exit

Germany’s central bank, the Bundesbank, has revised its regulations to stop Iran from withdrawing €320 million ($400 million) in cash from the country’s bank accounts, the German newspaper BILD disclosed.
August 3, 2018

Iran Currency’s Value Continues to Fall

While Iran’s market has experienced a hike in the value of foreign currencies and gold coin prices in recent months, the Iranian money plunged to a record low against the US dollar in the unofficial market, which is being offered for as much as 110,000 rials Monday. The value of Iranian rial against euro also […]
August 3, 2018

Ingenico withdraws from Iran Market

Ingenico Group a French-based company providing the technology involved in secure electronic transactions, has said that it is withdrawing from the Iranian market. In its half-year results the company said that following the US withdrawal from the JCPOA the Group has anticipated the phasing out of its distribution partnership in Iran, in line with the […]
August 3, 2018

UK-based Iranian Kurd wins prestigious Fields Medal

A UK-based Iranian Kurd from is among the four winners of the prestigious Fields Medal, often thought of as the Nobel prize for mathematics. Caucher Birkar (pictured), a Cambridge University professor, was awarded the prize on Wednesday during a ceremony at the International Congress of Mathematicians (ICM) in Rio de Janeiro, Brazil. Caucher Birkar’s dedication […]
August 2, 2018

Sevan Startup Summit Announces 2018 Winners

Sevan Startup Summit 2018 was held from 22nd to 29th of July at the shore of Lake Sevan, Armenia. This Summit exceeded the previous events in terms of both the content and scales.

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August 2, 2018

Scottish-based Engineering Firm to Exit Iran

Scottish-based engineering company Weir Group has reported that performance in its international businesses was weaker in the first half of the year, reflecting market conditions and the exit from recently won contracts in Iran following the recent re-...
August 2, 2018

Renault Likely to Leave Iran Because of US Sanctions

Renault SA is shaping up to be the latest European company to fall victim to US President Donald Trump’s renewed sanctions on Iran, as the automaker has raised the possibility of pulling out of Iran for fear of US sanctions. Iran operations are likely to be put on hold to comply with US sanctions, Renault […]
August 1, 2018

New shareholders’ presence in TSE up 40% in 4 months yr/yr

TEHRAN- Presence of new shareholders in Tehran Stock Exchange (TSE) rose 40 percent during the first four months of current Iranian calendar year (March 21-July 22) compared to the same period of time in the previous year, according to TSE CEO Hassan Q...
August 1, 2018

Cement exports stand at $159m in 3 months

TEHRAN- Iran exported 4.407 million tons of cement valued at $159.3 million in the three-month period from the beginning of current Iranian calendar year (March 21), Islamic Republic of Iran Customs Administration (IRICA) has announced.
August 1, 2018

Annual fishery exports to rise 10% by March 2019

TEHRAN- The value of Iran’s annual fishery export is planned to rise at least 10 percent in the current Iranian calendar year (which ends on March 20, 2019), Hassan Salehi, the head of Iran’s Fisheries Organization, announced.