March 21, 2017

Inflation rate in urban areas stands at 6.8%

TEHRAN -The Statistical Center of Iran announced that the inflation rate in the urban areas for the 12-month period ended in Esfand, the last month of the past Iranian calendar year (ended on March 20), hit 6.8 percent, Tasnim news agency reported.
March 20, 2017

Iran starts oil recovery from South Pars oil layer

TEHRAN- Iran started pumping oil from the oil layer of South Pars gas field (in the Persian Gulf), on Sunday, Gholam-Reza Manouchehri, the deputy managing director of National Iranian Oil Company (NIOC) for engineering and development affairs, announced.
March 20, 2017

Final Version of New-Style Iran Oil Contracts Prepared

The ultimate version of a new format of Iran’s oil contracts, known as Iran Petroleum Contract (IPC), has been prepared in compliance with the cabinet’s measure and will be used for putting development of a major oil field out to tender in spring. According to Tasnim dispatches, the final version complies with the conditions set […]
March 20, 2017

Total seeks $4bn Stake in South Pars Gas Gield

Total is seeking a 50 percent stake in a $4 billion project in Iran’s giant South Pars gas field, the French energy firm said in a regulatory filing detailing talks held with Iranian officials on several projects in 2016. Total signed a preliminary deal for the South Pars project last year, becoming the first Western […]
March 20, 2017

Why French Carmakers are real Winners of Iranian Protectionism

By Ali Dadpay for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran’s auto industry is only second to its energy sector, accounting for some 10% of the gross domestic product and 4% of employment. Showcasing the Islamic Republic’s efforts to become an industrial economy, it […]
March 20, 2017

Iran Starts Operating SP20 Project

Iran announced it has started gas recovery from phase 20 development of the supergiant South Pars gas field (SP20) on Sunday. The Deputy Managing Director of the National Iranian Oil Company (NIOC) for Engineering and Development Affairs Gholam-Reza Manouchehri said gas and condensate recovery has started at 25 million cubic meters and 40,000 barrels per […]
March 20, 2017

Construction Begins on Bushehr-2 Nuclear Power Plant

March 14, 2017 saw the start of works at the Bushehr-2 Nuclear Power Plant. The ceremony was attended by representatives of the Principal – Nuclear Power Production & Development Co. of Iran (NPPD), namely: Mr. Jafari, Bushehr NPP Project Manager, Mr. H. Ghaffari, BNPP Operating Co. Managing Director, Mr. A.R. Moradian, OCE Co. Managing Director […]
March 18, 2017

Iran’s carpet exports grow by 27%, hits $321m in 11 months

TEHRAN - Iran exported $321 million of handmade carpets in the first 11 months of the current Iranian calendar year, ended February 18, an increase of 27 percent year on year, Hamid Kargar, the head of Iran's National Carpet Center, said on Saturday.
March 18, 2017

S.Korean, Turkish firms team up to build 5GW of power plants in Iran

South Korea’s SK Engineering & Construction (SK E&C) has teamed up with a Turkish firm for a multi-billion-dollar project to build and operate new power plants in Iran with a combined generation capacity of 5,000 megawatts, the South Korean firm said Saturday.
March 18, 2017

Iran to raise oil exports to Europe by 60% within two months

TEHRAN- Iran will increase oil exports to Europe by 60 percent by the next two months, National Iranian Oil Company’s managing director said, IRNA reported on Saturday.
March 18, 2017

Total, CNPC seek stake in Iranian gas project

France’s Total and China’s CNPC are seeking stakes in a $4 billion project in Iran's giant South Pars gas field.
March 17, 2017

Electricity exports to Iraq to be resumed in coming days: energy minister

TEHRAN - Iran is set to resume electricity exports to Iraq in the coming days, Energy Minister Hamid Chitchian said on March 16.
March 17, 2017

Tehran, Baku stress expansion of economic ties

TEHRAN- In a Thursday meeting in Baku, the capital city of Azerbaijan, Iranian Communication and Information Technology Minister Mahmoud Vaezi , who leads the Iranian side of Iran-Azerbaijan Joint Economic Committee, and the Azeri co-chairman of the co...
March 17, 2017

Iran’s oil output to reach 4m bpd by April 20: NIOC head

TEHRAN- Oil production in Iran will reach four million barrels per day (bpd) by the end of the upcoming Iranian calendar year’s first month of Farvardin (March 20), National Iranian Oil Company (NIOC) Managing Director Ali Kardor announced in an interview with Seda weekly.
March 17, 2017

New Zealand aims to revive sheep meat export to Iran

TEHRAN- New Zealand aims to revive the export of sheep meat to Iran, as the country’s exporters consider it a lucrative trade, according to stuff.co.nz.
March 17, 2017

South Korea’s oil imports from Iran up 54% in Feb.

TEHRAN- South Korea has imported 427,800 barrels per day (bpd) of oil from Iran in February 2017, a 54 percent rise from February 2016, according to the data released by the country’s customs administration.
March 16, 2017

Banks loans witness 37% rise in 11 months

TEHRAN- Iranian banking system offered 4.77 trillion rials (about $126.4 million) of facilities to domestic economic sectors during the first 11 months of the current Iranian year (March 20, 2016- February 18, 2017), showing 37.1 percent increase compa...
March 16, 2017

Money Talk: The Biggest Investments in Iran’s Startup Ecosystem

With the lifting of the sanctions, we have witnessed hundreds of millions of Euros of foreign direct investment injected in Iran's startups.

The post Money Talk: The Biggest Investments in Iran’s Startup Ecosystem appeared first on TechRasa.

March 16, 2017

Iranian-Russian trade may reach $10b in 3 years

The volume of bilateral trade between Iran and Russia may reach $10 billion in three years, Iranian Ambassador to Russia Mehdi Sanaei said Tuesday.
March 16, 2017

59 new wagons join Tehran subway network

TEHRAN- Some 59 new wagons, made in Iran, joined Tehran subway network on Wednesday, IRNA reported. According to Maziyar Hosseini, an official in Tehran Municipality, two of the new wagons are double-decker.