April 3, 2018

IFB attracts 87% more funding yr/yr

TEHRAN- Iran’s over-the-counter (OTC) market, known also as Iran Fara Bourse (IFB), could manage to attract 306.6 trillion rials (about $6.2 billion) of funding during the past Iranian calendar year 1396 (ended on March 20), which shows 87 percent grow...
April 3, 2018

Russia expected to invest over $50b in developing Iran’s oil, gas fields

TEHRAN - Russian companies are expected to invest over $50 billion in development of oil and gas fields in Iran, Tass reported quoting Russian presidential aide Yuri Ushakov as saying on Monday.
April 3, 2018

IMF urges Iran to make structural economic reforms, address youth unemployment

TEHRAN – The International Monetary Fund (IMF) called on Iran for structural economic reforms for enabling the private sector to grow and to create the jobs required to address youth unemployment and raise incomes.
April 3, 2018

Iran, Azerbaijan Inaugurate Joint Car Plant, Railway Project

Iran and Azerbaijan have launched a joint car plant and a railroad connecting Iran’s northern city of Astara to its namesake in the Azerbaijan Republic. The inauguration ceremony of the plant and the Astara-Astara railroad was held in Azerbaijan with Iranian President Hassan Rouhani and his Azeri counterpart, Ilham Aliyev, in attendance. The joint car […]
April 2, 2018

Welcoming the New Year with new oil deals

Iran, for long, has been using buy-back oil contracts in deals with foreign companies who worked on developing the country’s oil and gas fields. But in recent years, some issues attributed to the buy-back model have made this kind of contracts less att...
April 2, 2018

First-ever achievements of Iran stock market

The Iranian stock market has witnessed some first-ever successful experiences in the current Iranian calendar year, ending March 20, both in national and international transactions and also in terms of science and training.
April 2, 2018

Economy in a nutshell: key points, future plans

At the threshold of a new year, some of major economic indices of the ending year and the major plans for the upcoming one will be reviewed here.
April 2, 2018

$27bn needed for Steel Development

Platts reports that Iran’s steel industry needs about $27.4 billion in new investment to achieve a target of 55 million mt/year of production capacity by 2025. The data, from the Iranian Steel Producers’ Association, says about $16.4 billion is needed for infrastructure projects, with around $10 to be invested directly into steelmaking and raw materials […]
April 2, 2018

Are Iranians ready to ‘Buy Iranian’?

By Maysam Bizaer for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. In keeping with the tradition of declaring an annual motto at the beginning of each Iranian year, Supreme Leader Ayatollah Ali Khamenei has named the current year that began March 21 “Support for Iranian Products.” Many observers […]
April 1, 2018

Pertamina to take over Iran’s Mansouri field early May

By John Lee. The Iranian government has set a deadline of early May for Pertamina to seal the deal to develop the Mansouri oil field. The Indonesian state-owned energy giant claims it has secured Iranian government agreement to be the operator of the field, in which the company is expected to control an 80 percent […]
April 1, 2018

Why Growth has not led to Job Creation in Iran

By Navid Kalhor for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Why economic growth has not led to job creation in Iran Last fall, the World Bank forecast that Iran’s economy will grow by merely 4% and 3.4% in 2018 and 2019, respectively. These rates […]
March 31, 2018

Iran ranked 16th largest car manufacturer in 2017

TEHRAN- The International Organization of Motor Vehicle Manufacturers OICA (Organisation Internationale des Constructers’ d'Automobiles) ranked Iran as the 16th largest car manufacturer in 2017.
March 31, 2018

Banks pay $4b to boost domestic production

TEHRAN – Some 188 trillion rials (about $4 billion) was paid by the banking system in the previous Iranian calendar year which ended on March 20 to boost domestic production, according to data released by the Ministry of Industry, Mining and Trade.
March 31, 2018

IMF Calls for Iran to Access Int’l Bond Markets

featured A new report from the International Monetary Fund (IMF) examining “selected issues” in Iran’s economy, including the expansion of non-oil exports and the role of women in the labor force, places special emphasis on the importance for Iran to develop the government securities market, which is a priority under the Sixth National Development Plan […]
March 31, 2018

Iran’s Conservatives see Twitter as next Battleground

From Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. When Iran’s Foreign Minister Mohammad Javad Zarif began his tenure in 2013, the American-educated diplomat knew that he would need to bypass many of the traditional media outlets to spread Iran’s message directly on the international […]
March 30, 2018

How Mohammed bin Salman unites usually Divided Iranians

By Saeid Jafari for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Saudi Crown Prince Mohammed bin Salman’s war of words against Iran seems to have had a unifying effect among usually divided Iranians. The 32-year-old prince adopted a particularly tough tone against Tehran during his […]
March 30, 2018

New Career Opportunities in Iran

By John Lee. The United Nations has advertised new jobs in Iran: Finance Assistant, Norwegian Refugee Council (NRC) New Consultancy Recruitment & Non-Staff Workflow, UNICEF – United Nations Children’s Fund Project Associate (UNDP Proje...
March 28, 2018

Tehran’s Quality of Living Ranking …

By John Lee. Tehran has been ranked in 200th place in Mercer’s 2018 Quality of Living Survey. This puts it just ahead of Luanda in Angola and Lahore in Pakistan, and just behind Douala in Cameroon and Dar es Salaam in Tanzania. Vienna again retains the top spot; Zurich and Auckland follow in second and […]
March 28, 2018

MP: $30bn Has Been Transferred out of Iran

By John Lee. Iranians have transferred $30 billion out of the country in recent months, according to a claim from an Iranian member of parliament. MP Mohammad Reza Pourebrahimi, who is the head of the parliament’s economic committee, did not specify how the money has been moved out; without access to the international banking system, […]
March 28, 2018

Tehran, Ashgabat Sign 13 MoUs to Boost Ties

In a ceremony held in Ashgabat on Tuesday, senior officials of Iran and Turkmenistan singed 13 documents to develop joint cooperation in various fields. The ceremony was attended by Iranian President Hassan Rouhani and his Turkmen counterpart, Gurbanguly Berdimuhamedow. The Memorandums of Understanding (MoUs) feature collaborations in political, cultural, trade, industrial, agricultural, sports and academic […]