June 7, 2017

SHETAB the System Behind Card-Based Transactions in Iran

Are you wondering about the banking system which is taking care of card-based transactions in Iran? Read this article to find out more about SHETAB payment system in Iran.

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June 7, 2017

Shooting Erupts in Iran’s Parliament

Unknown gunmen attacked the Iranian Parliament on Wednesday as security forces trying to restore security. Earlier reports said exchange of gunfire in a corridor of the parlaiment has injured a security guard in the parliament. Reports suggest that a number of gunmen (possibly three) are involved in the attack. Witnesses say shooting is still being […]
June 7, 2017

Iran, Turkey sign Trade Deals worth $100m

By John Lee. Iran’s Social Security Investment Company (Shasta) has reportedly signed contracts worth $100 million with Turkish firms for construction projects and modernisation of the Arvandan shipbuilding facilities in Khuzestan province. The AFP report also says that the deal includes Iranian construction of a $10-million catamaran — a high-speed double-hulled passenger vessel with an […]
June 7, 2017

Iran faced with return of Double-Digit Inflation

By Alireza Ramezani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The Central Bank of Iran (CBI) is stepping up its efforts to reform the country’s ailing banking system amid fears that inflation may pick up again. The monetary regulator is “serious” about the reforms, CBI […]
June 7, 2017

Trade Increases after Automation of Iraq Border Crossings

By John Lee. Cross-border trade between Iraq and Iran has increased 20 percent in the first three months of this year after authorities installed automatic electronic system in the main border stations in January. The manager of the Kurdistan Region Customs Service told Rudaw: “The automation process has had an immediate and relatively large impact […]
June 7, 2017

Chinese Envoy: Iran as ‘One of Safest’ Countries in Region

China’s ambassador to Iran Pang Sen praised the security situation in the Islamic Republic, describing it as one of the most secure countries in the insecure Middle East. “Iran is one of the safest countries in the region and that is an honor for me as the Chinese ambassador (to the country),” Pang Sen told […]
June 7, 2017

Iran’s airspace open to Qatari flights 

TEHRAN – With the dispute between Qatar and the Arab countries escalated, Iran has accepted flights performed by Qatari airlines to pass its airspace to travel to Africa and Europe.
June 7, 2017

Iranian trade delegation to head for Kenya in early-July

TEHRAN – An Iranian trade delegation headed by Farhad Nouri, the director general of the Commerce Services Office of Iran’s Trade Promotion Organization (TPO), is due to visit Kenya from July 4 to 7 to explore grounds of economic cooperation.
June 7, 2017

Loading, unloading at Iranian ports up 1.7% in 2 months

TEHRAN- More than 15.5 million tons of non-oil goods were loaded and unloaded at ports of Iran during the first 2 months of the current Iranian calendar year (March 21 - May 21), an increase of 1.7 percent year on year.
June 6, 2017

NITC planning to renew oil tanker fleet

TEHRAN- National Iranian Tanker Company (NITC) is looking at options to place its first orders for new very large crude carriers (VLCCs) in post-sanction era, as it plans to renew its existing fleet, the managing director of company has announced.
June 6, 2017

SZOGPC Revenues hit $9bn Last Year

The South Zagros Oil and Gas Production Company (SZOGPC) produced 9 billion dollars worth of crude oil and natural gas in the previous Iranian calendar year which ended on March 20, the company’s CEO said. Gholamhossein Montazeri said the company produced 62 mcm of natural gas, 20 million barrels of gas condensate and 2.2 million […]
June 6, 2017

India’s NALCO puts Iran Project on hold

By John Lee. India’s National Aluminium Company Ltd (NALCO) has put its overseas projects on hold in order to focus on expanding domestic capacity. The company signed a memorandum of understanding (MoU) with the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) last year to explore the possibility of setting up a joint […]
June 6, 2017

Iran Opens Airspace to Qatari Flights

An Iranian civil aviation official said Qatari aircraft bound for Europe or Africa can fly over Iran’s territory as of Tuesday, after four regional Arab states decided to suspend diplomatic ties with the Doha government and suspend air transport with Qatar. An official at Iran’s Airports Company said on Tuesday morning that Qatari airlines, including […]
June 6, 2017

JCPOA Could Hold without US: Kerry

Former US Secretary of State John Kerry said the Iran nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), could hold even if Donald Trump repeals it. Kerry, however, warned that imposing new economic sanctions against Tehran could be dangerous. “It doesn’t make sense, folks, to risk a step that gets us nothing,” […]
June 6, 2017

UN confirms Iran’s Compliance with Nuclear Deal

By John Lee. A report from the International Atomic Energy Agency (IAEA) says that Iran is still sticking to the 2015 nuclear accord. UN atomic watchdog said Iran’s nuclear activities remain much reduced, making any push to make an atomic bomb much harder than before the agreement, according to AFP. The quarterly assessment added that […]
June 6, 2017

Billion-dollar Qatari food market on tap

The Saudi-led severing of diplomatic ties with Qatar has provided a unique opportunity for Iran to tap into the billion-dollar food market of its Persian Gulf neighbor.
June 6, 2017

Adro Launches AdServer in Iran

The Iranian ad-exchange company, Adro has launched its AdServer service, a technology which enables publishers, ad networks and advertisers to place their ads across various formats.

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June 6, 2017

Transit of goods jumps 8.6% in 2 months

TEHRAN- Iran exported 1.44 million tons of goods during the first two months of the present Iranian calendar year (March 22- May 21, 2017) via its land and maritime borders, showing 8.6 percent increase compared to the same period in the previous year.
June 6, 2017

Non-oil export exceeds $2.7b in a month

TEHRAN- Iran exported over 800 million tons of non-oil products worth $2.722 billion in the first month of the current Iranian calendar year, Farvardin (March 21-April 20), ISNA reported on Monday.
June 5, 2017

Band Karkheh Oilfield back again for Development

Executive manager of the project to develop Band Karkheh oilfield announced that OMV, the international, integrated oil and gas company based in Vienna, will begin developing the oilfield in the near future. Fars News Agency quoted Alireza Zamani as saying on Tuesday, “The OMV will soon start development activities in Band Karkheh oilfield.” Noting that […]