June 30, 2017

Jury finds US may seize Iran-Linked Office Tower

A jury in New York has found that the US government may seize a Manhattan office building from a nonprofit foundation accused of violating US sanctions against Iran. The court found that the Alavi Foundation, majority owner of the office tower, knew that its partner and the building’s minority owner, Assa Corp, was a front […]
June 30, 2017

Record High Temperatures in Iran

Temperatures in the southwestern city of Ahvaz hit 53.7°C (128.7 degrees Fahrenheit) on Thursday, with another source citing 129.2 degrees F. If confirmed, this would arguably tie for the hottest temperature ever measured on Earth in modern times, according to a report from The Independent. The Iranian cabinet decided on Wednesday to authorise banks, state […]
June 30, 2017

Cuban Debt Settlement on Track

By John Lee. Cuba has paid €6 million of its debt to Iran, following a debt restructuring agreement signed between Banco Exterior de Cuba (BEC), the Export Guarantee Fund of Iran (EGFI) and the Export Development Bank of Iran (EDBI) last September in Havana. Arash Shahraini, EGFI’s deputy CEO, who held fresh rounds of talks […]
June 30, 2017

Iran on Fast-Track to Beating Noncommunicable Diseases

Since the 1960s, the Islamic Republic of Iran’s urban population has tripled and life expectancies have risen. This, however, has increased people’s exposure to tobacco, unhealthy diets, and physical inactivity – among the main risk factors for noncommunicable diseases (NCDs), primarily cardiovascular and lung diseases, cancer and diabetes. Thankfully, advances led by the very highest […]
June 30, 2017

Linde resumes activity in Iran

TEHRAN - Linde Group resumed its activities in Iranian market by granting its exclusive license to an Iranian company called Axon Machine Ariana, IRNA reported on Friday.
June 30, 2017

Linde Material Handling resumes activity in Iran

TEHRAN - Linde Material Handling resumed its activities in Iranian market by granting its exclusive license to an Iranian company called Axon Machine Arina, IRNA reported on Friday.
June 30, 2017

5 Key Strategies to Fuel Growth and Innovation

Most companies grow. But few do so in a consistent way. Here are 5 key strategies to fuel growth and innovation.

The post 5 Key Strategies to Fuel Growth and Innovation appeared first on TechRasa.

June 29, 2017

Iran Triples Loading Capacity at Key Oil Terminal

Iran has increased the capacity of its largest oil terminal to as high as eight million barrels per day (bpd) – another indication that the country is preparing for bigger exports to global markets. That means the average loading capacity for crude and condensate exports at Kharq [Kharg] terminal has now tripled, Seyyed Pirouz Mousavi, […]
June 29, 2017

Iran, Germany to Broaden Banking Cooperation

By John Lee. Foreign Minister Mohammad-Javad Zarif and German Finance Minister Wolfgang Schäuble have met in Berlin to discuss the expansion of banking cooperation between the countries. Schäuble welcomed banking cooperation between Tehran and Berlin, and said German banks are ready to upgrade cooperation with Iran. (Source: Ministry of Foreign Affairs, IRNA)
June 29, 2017

Enhanced Export of Oil Products from Rajaei Port

By John Lee. The Ports and Maritime Organization of Iran (PMOI) is to launch three new docks at Shahid Rajaei Port to bring the facility’s export capacity to 34 million tons of petroleum products annually. According to the organization, Mohammad Saeid Nejad, deputy minister of roads and urban development, said once the docks are operational, […]
June 29, 2017

Saudi-led Qatar blockade brings Iran, Turkey together

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. The power constellations in the Middle East are growing ever more complex. On June 5, Saudi Arabia along with the United Arab Emirates, Bahrain and Egypt broke off ties with Qatar, accusing it of […]
June 29, 2017

Iran a Reliable Trade Partner for Germany: FM Zarif

Iranian Foreign Minister Mohammad Javad Zarif described the Islamic Republic as a “reliable trade partner” for Germany, stressing that the time is ripe for enhanced economic cooperation between Tehran and Berlin. “Now is the time for Iran and Germany to promote their economic cooperation,” Zarif said in a meeting with German Economy Minister Brigitte Zypries […]
June 28, 2017

Horticulture output to reach 22m tons by Mar. 2018

TEHRAN- Iran’s annual output of horticultural products is anticipated to reach 22 million tons by the end of current Iranian calendar year (March 20, 2018), according to an official at the Ministry of Agriculture.
June 28, 2017

Near $800m projects underway in Shahid Rajaee Port

TEHRAN- Managing Director of Ports and Maritime Department of Iran’s Hormozgan Province announced on Wednesday that tens of projects worth 30 trillion rials (about $799 million) are underway in the country’s southern Shahid Rajaee Port, IRNA reported.
June 28, 2017

Over $2b allocated to 411 transport projects

TEHRAN- The national budget law for the current Iranian calendar year (March 2017-March 2018) has allocated 80 trillion rials (about $2.1 billion) for implementing 411 transport projects across the country, the deputy transport minister announced on We...
June 28, 2017

$220m Investment in Tyre Factory

By John Lee. Arya Tire Hamoon Industrial Company, a subsidiary of the Industrial Development and Renovation Organization of Iran (IDRO), and Dam and Water Works Construction Company (SABIR) have signed an agreement to build a tire manufacturing plant in the city of Zabol. The minister of industry, mining, and trade, and the minister of cooperatives, […]
June 28, 2017

Iran’s Iron Ore Concentrate Production Up 43%

By John Lee. Major Iranian iron ore companies produced 6,053,900 tonnes of iron ore concentrate during the two-month period from 20th March to 21st May 2017, a 43 percent increase on the 4,225,579 tonnes produced in the corresponding period of last year. Gol-e-Gohar Company ranked first with production of 2,140,000 tonnes of iron ore concentrate. […]
June 28, 2017

Germany’s Hermes to Guarantee Iranian Investments

By John Lee. Germany’s Hermes Insurance has reportedly said it is willing to provide insurance coverage for investment projects in Iran, especially in the energy and power sectors. According to Mehr News Agency, the announcement was made at a joint meeting between Iran’s Foreign Minister Mohammad Javad Zarif and German Minister for Economics and Energy […]
June 28, 2017

Europeans press FATF to extend Iran Sanctions Reprieve

By Barbara Slavin for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Europeans press Terror-Finance Watchdog to extend Iran Sanctions Reprieve A powerful financial watchdog group meeting in Valencia, Spain, this week will take actions that could bolster the Iran nuclear deal — or put it in […]
June 28, 2017

Polish MEP: “No Good Time to Invest in Iran”

By John Lee. A vice president of the European Parliament has said that European companies should not rush to pour money into Iran’s industries. Writing in The Diplomat, Poland’s Ryszard Czarnecki argues that the whole world should be alarmed at the likelihood of some Western policymakers and businessmen taking President Hassan Rouhani’s reelection as a […]