April 12, 2018

Iranian, Russian capital markets to get connected

TEHRAN- The Central Securities Depository of Iran (CSDI) and Russia’s National Settlement Depository (NSD) signed a memorandum of understanding (MOU) to connect the capital markets of both countries, IRNA reported.
April 12, 2018

Rosneft Sets Sight on Iran’s Zagros Region

Russia’s state-controlled oil giant Rosneft is interested in oil and gas projects in Iran’s western region of Zagros, after signing a deal last year to do business in the country, an official document showed on Friday. The document, published on a government website that details tenders by state companies, said that as of mid-February Rosneft […]
April 12, 2018

MPs call on Central Bank boss to Resign as Rial Plummets

From Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. As the Iranian rial hit a record low, trading above 60,000 against the US dollar on April 9, criticism against President Hassan Rouhani and Central Bank Gov. Valiollah Seif has intensified. The rial has dropped in […]
April 12, 2018

Iranian Bank Cards to Be Activated in Russia, Turkey

Iranian Minister of Industry, Mine and Trade Mohammad Shariatmadari said Iran and Russia have agreed to link their bank card systems in a bid to boost the trade ties between the two countries. Addressing the opening ceremony of the 12th session of Iran-Uzbekistan Joint Economic Commission in Tehran on Monday, Shariatmadari said the establishment of […]
April 12, 2018

Iran Seeks to Block Telegram. Here’s Why.

In the past weeks, Iranian authorities have warned users to migrate to local messaging apps as Telegram might soon get blocked in the country. While President Rouhani had mentioned that its government is against blocking internet services, it seems that they have reached to a point to actually take a different approach towards this app. 

The post Iran Seeks to Block Telegram. Here’s Why. appeared first on TechRasa.

April 11, 2018

China to replace Saudi with Iran, Russia oil: Platts

China state-run refiner Sinopec will cut back on its nominations of Saudi Arabian crude in May after the major OPEC producer's latest official selling prices came out above market consensus, potentially providing other producers in the Middle East and ...
April 11, 2018

Russia’s Lukoil expected to sign deals in Iran within 3-4 months

TEHRAN - Russia's oil-producing giant, Lukoil is expected to sign contracts in Iran within the next 3-4 months to develop two Iranian oil fields, Sputnik reported on Wednesday quoting the company’s chief executive.
April 11, 2018

Iranian oil industry’s achievements in past year

TEHRAN – The Iranian oil industry witnessed several turning points passing through the previous Iranian calendar year (which ended on March 20), stabilization of the country’s oil output in the range of 4 million barrels per day (bpd), exporting a reco...
April 11, 2018

Issues with India over Farzad B gas field resolved: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said Iran and India have resolved issues regarding Iran’s Farzad B gas field, IRNA reported.
April 11, 2018

Iran Unifies Exchange Rates to Halt Currency Slide

The Governor of the Central Bank of Iran (CBI) Valiollah Seif said the country has unified its official and open market exchange rates as the Iranian rial plunged to an all-time low against the US dollar. Speaking at an open session of the parliament on Tuesday morning, Seif explained about the currency slide in recent […]
April 11, 2018

Sinomach signs $836m Railway Project with Iran

China National Machinery Industry Corporation (Sinomach) has signed a cooperation agreement with Iran to build a railway expansion project in the country. Costing 5.35 billion yuan ($836.87 million), the railway line connects Tehran, Hamadan and Sanandaj, with a total length of 470 kilometers. According to the agreement, Sinomach Heavy Industry is responsible for the design, […]
April 11, 2018

CyanConnode developing New Opportunities in Iran

By John Lee. CyanConnode, a provider of narrowband radio mesh networks, has said it is developing new opportunities in Iran. In its trading update for the first calendar quarter of 2018, the company says: “During the quarter, work on the smart metering contracts in Iran continued. System integration work has taken place on both the […]
April 11, 2018

What’s really driving Currency Depreciation in Iran?

By Esfandyar Batmanghelidj, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The Iranian rial has lost about a third of its value over the last year, burnishing claims that the economy is stumbling. But while the devaluation is concerning, it does not point directly to […]
April 11, 2018

Sinopec explanations regarding Khalkhal Dasht claims in response to the company

Following a report on a conflict between the Chinese oil company Sinopec and an Iranian private company called Khalkhal Dasht which was published on March 19 by Tehran Times, Khalkhal Dasht responded to the mentioned report, denying Sinopec’s claims ag...
April 11, 2018

Taming the runaway forex market

When rial finished its four-month decline sliding to a record low of 60,000 rials against the dollar on Monday from 43,000 rials in early January, the administration eventually made the long-waited serious decision to curb the rampant foreign exchange ...
April 10, 2018

Government’s income at $39.8b in a year

TEHRAN- Iranian government spokesman Mohammad Baqer Nobakht put the government’s income at 1.675 quadrillion rials (about $39.88 billion) in the past Iranian calendar year.
April 10, 2018

Port, maritime co-op discussed between Iran, Qatar

TEHRAN- In a meeting in Tehran on Monday, Iran’s Ports and Maritime Organization (PMO) Head Mohammad Rastad and Qatar Ports Management Company CEO Abdulla Al-Khanji explored the possible areas for cooperation between the two countries’ port and maritim...
April 10, 2018

NITC’s fleet renovation to continue

TEHRAN- National Iranian Tanker Company (NITC)has demolished four of its oil tankers in the past Iranian calendar year (ended on March 20) in line with renovating its fleet, Shana news agency quoted Nasrollah Sardashti, the company’s managing director,...
April 10, 2018

Non-oil exports up 6.5% in a year

TEHRAN- the value of Iran’s non-oil exports reached $46.931 billion in the past Iranian calendar year (ended on March 20), with 6.56 percent growth from $44.42 billion in its previous year, Islamic Republic of Iran Customs Administration (IRICA) announ...
April 10, 2018

Iran-Turkmenistan Gas Swap Resumed

Deputy Petroleum Minister for International Affairs and Trade Amir Hossein Zamaninia said Iran resumed gas swap with neighboring Turkmenistan on March 28. Zamaninia, who accompanied Iranian President Hassan Rouhani in his trip to Baku on from March 27 to 29, described Turkmenistan as a strategic partner for Iran, adding, “The [Iranian] Ministry of Petroleum has […]