September 25, 2017

International Companies to Invest in Iran’s Newly Opened ICT Park

Iran’s ICT Ministry is inviting international companies to bring foreign investments into the country’s newly opened ICT Science and Tech Park.  

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September 25, 2017

Petrobras may Explore in Caspian Sea

Brazil has expressed an interest in looking for hydrocarbon reserves in the Iranian share of the Caspian Sea. This was announced by Brazil’s Ambassador to Tehran Rodrigo de Azeredo Santos in a meeting with Yousef Etemadi, the acting managing director of Iran’s Khazar Exploration and Production Company (KEPCO). Santos emphasized that Brazil’s Petrobras was ready […]
September 25, 2017

Iranian MP Hails French Push to Save JCPOA

An Iranian lawmaker commended French President Emmanuel Macron for stressing the need to protect the Joint Comprehensive Plan of Action (JCPOA), the nuclear agreement between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany). Macron’s comments at the UN General Assembly about the importance of saving the JCPOA were remarkable and […]
September 25, 2017

Plans for Flights between Erbil and Urmia

By John Lee. An Iranian official has been quoted as saying that plans are in progress for direct flights between Erbil International Airport (pictured) and the city of Urmia, in Iran’s Kurdistan province. Ahmad Montazami, the head of the Iranian Foreign Ministry’s office in Urmia, told Fars News Agency that the service could be started […]
September 25, 2017

Iran Closes Airspace to Flights from Iraqi Kurdistan

By John Lee. Iran has reportedly closed its airspace to all flights originating in Iraqi Kurdistan. It’s state-run IRNA news agency said on Sunday that the move followed a request from Baghdad. In a separate development, an Iranian official has been quoted as saying that plans are in progress for direct flights between Erbil and […]
September 25, 2017

Video: Will the US pull out of the Iran Nuclear Deal?

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. Just days after US President Donald Trump called Iran a “rogue nation”, Tehran said it has successfully tested a new ballistic missile. According to Iran, the Khorramshahr missile is capable of carrying multiple […]
September 25, 2017

Iranian crude oil price exceeds $54 in a week

TEHRAN- Iran’s light crude oil price rose $1.6 in the week ended on September 15 to settle at $54.01, Shana reported on Saturday.
September 25, 2017

Iran Plast 2017 expo kicks off in Tehran

TEHRAN – As one of the biggest events in Iran’s petrochemical industry, the 11th edition of Iran’s International Exhibition of Plastics, Rubber, Machinery and Equipment (Iran Plast 2017) kicked off in Tehran on Saturday, Shana reported.
September 25, 2017

Inflation rate stands at 8% in Iran: statistical center

THRAN- The Statistical Center of Iran announced that the inflation rate for the 12-month period ended on the last day of the sixth Iranian calendar month of Shahrivar (September 22) compared to the same period in the previous year hit eight percent.
September 25, 2017

Russia’s Lukoil eyes contributing to Iranian energy projects

TEHRAN - Lukoil Chief Executive Vagit Alekperov said he would meet Iranian Oil Minister Bijan Namdar Zanganeh in Moscow on October 3 to discuss cooperating with Iran in energy projects.
September 25, 2017

Iran Says $50bn Investment Needed to Develop Oil Prodn

Iran’s oil minister said there is need for about $50 billion in investment to develop the country’s oil output. “We need 40 to 50 billion dollars of investment to develop the country’s oil production,” Bijan Zangeneh said, adding that it cannot be supplied domestically and should be provided via foreign contracts. He further referred to […]
September 25, 2017

Rouhani Hopes for Closer Tehran-London Trade Ties

Iranian President Hassan Rouhani reiterated his administration’s policy to promote relations with European countries and said the Islamic Republic is ready to deepen ties with Britain in all spheres, economy in particular. Speaking at a meeting with British Prime Minister Theresa May in New York on Wednesday, Rouhani described facilitating banking cooperation as an important […]
September 24, 2017

Irancell Tests Its 5G Network With the Help of Ericsson

Irancell, the second largest mobile network operator in Iran tests its 5G networks with the help of Ericsson. In testing, the download speed for Irancell’s 5G network peaked at 23.9 Gbps.

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September 24, 2017

Passenger car imports to Iran rise 40% in 6 months yr/yr

TEHRAN- Iran imported 44,000 passenger cars, worth $1.18 billion, in the first half of the current Iranian calendar year (March 21- September 22, 2017), recording 40 percent rise in terms of value compared to the same period last year, Tasnim news agency quoted Head of Iran’s Trade Promotion Organization (TPO) Mojtaba Khosrotaj on Sunday.
September 24, 2017

$14b of FDI absorbed after JCPOA implementation

TEHRAN- “Iran could attract $14 billion of foreign direct investment (FDI) after the implementation of its nuclear deal with the world powers- known as Joint Comprehensive Plan Of Action (JCPOA)- in January 2016,” Iranian Vice President Es’haq Jahangiri announced at the 11th edition of Iran’s International Exhibition of Plastics, Rubber, Machinery and Equipment (Iran Plast 2017) on Sunday.
September 24, 2017

French bank to grant €500m annually to projects in Iran

Bpifrance, the country’s state investment bank, will finance investment projects of French companies in Iran from 2018, granting up to 500 million euros ($598 million) in annual credits, its CEO said in a newspaper interview on Sunday.
September 24, 2017

Iran’s condensate exports to ease in October

TEHRAN - Iranian exports of gas condensate are expected to fall to a five-month low in October, Reuters reported citing a source with knowledge of Iran’s preliminary tanker schedule.
September 24, 2017

Exclusive exhibition of Iranian goods kicks off in Yerevan

TEHRAN – An exclusive exhibition of Iranian goods and services kicked off in Armenia’s capital city on September 22, IRNA reported.
September 24, 2017

Austria Signs Major Finance Deal with Iran

Austria’s Oberbank has signed a credit deal with Tehran to boost exports to Iran, the first European lender to do so since anti-Tehran sanctions were lifted following the 2015 nuclear deal between the Islamic Republic and world powers. Oberbank said the framework agreement will finance Austrian investment projects in Iran’s infrastructure, healthcare and plant construction […]
September 24, 2017

Iranian Consortium Awarded Khark NGL Project

The managing director of the Iranian Offshore Oil Company (IOOC) says an Iranian consortium has been awarded the development of Khark Island’s natural gas liquids (NGL) project. Hamid Bovard said Ghadir Investment Company and the SAFF Group has formed a consortium for development of the project. Addressing a press conference on the sidelines of the […]