February 10, 2017

Belgian Gearbox Factory Opens in Iran

By John Lee. The Financial Tribune reports that the Belgian firm Punch Powertrain has opened a factory to make continuously variable transmissions (CVTs) in Zanjan, northwestern Iran. The company will have an 80-percent ownership of the plant, with Iran’s Industrial Development and Renovation Organization (IDRO) taking 20 percent. 160,000 automatic gearboxes will be manufactured in the […]
February 10, 2017

Iran, Ireland increase Cooperation in Aviation

By John Lee. Iran’s Civil Aviation Organization (CAO) has reportedly signed its first ever contract with Ireland on expansion of aviation cooperation in areas such as observing flight operation, continued flight eligibility, issuance of technical aid, repair and maintenance. According to IRNA, the agreement was signed between the Deputy Chairman of the CAO, Mohammad Javad […]
February 10, 2017

Iran Raises Petchem Output under Rouhani

Iran saw its petrochemical output grow by 7.5 million tons/year under Iranian President Hassan Rouhani, a petrochemical official said. Addressing a press conference on Wednesday, Managing Director of National Petrochemical Company (NPC) Marziyeh Shahdaei said the country’s petrochemical production capacity rose by 16% under President Rouhani who took office in 2013. Iran’s total petrochemical production capacity […]
February 10, 2017

Could Iran’s next President be former TV Boss?

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. With the Iranian presidential elections in May, rivals of incumbent Hassan Rouhani continue to assess possible candidates. In recent weeks and months, one new name has repeatedly surfaced in the Iranian media: Ezzatollah Zarghami […]
February 9, 2017

Total says Iran Investment Depends on Renewal of US Waivers

By John Lee. French oil major Total plans to make a final investment decision on its $2-billion Iranian gas project by the summer, according to reports from Reuters and PressTV. But Chief Executive Patrick Pouyanne (pictured) told journalists that the decision hinges on the renewal of U.S. sanctions waivers, which are due to be renewed […]
February 9, 2017

Japan Donates $6.9m to Iranian Projects

The Government of Japan has allocated $6.9 million to five projects in Iran. The assistance, aimed at building a “tolerant and stable society” in the region, will go to the following projects over the next five years: United Nations Development Programme (UNDP): $1 million towards the restoration of Lake Urmia “via local community participation in […]
February 9, 2017

Germany Supports Transfer of New Technologies to Iran

A German deputy foreign minister has given an assurance that the government would support the process of transfer of new technologies to Iran through private sector investment. German companies in diverse industrial fields are eager to invest in Iran on the basis of transferring new technologies, and the Berlin government backs this process, State Secretary […]
February 9, 2017

Malaysian Company to Study Iran Oil Fields

The National Iranian Oil Company (NIOC) and Malaysia’s Bukhary International Ventures (BIV) have signed a memorandum of understanding (MoU) for carrying out studies of Iran’s Golshan and Ferdowsi fields. The two sides signed the deal in Tehran on Wednesday. Based on the document BIV will submit the result of its studies to NIOC over the […]
February 9, 2017

Iran Launches First Oceangoing Research Vessel

Iran’s first domestically-made oceangoing research vessel was launched in the southern port city of Bandar Abbas on Saturday. It came into service after a ceremony in Bandar Abbas on Saturday morning attended by Rear Admiral Amir Rastegari, managing director of Iran Defense Ministry’s Marine Industries Organization. With a length of 50 meters, a beam of […]
February 9, 2017

18 railbuses will enter railway network by March 2018

TEHRAN- To develop domestic railway network, 18 railbuses will be added to the Iranian rail transportation system by the end of the next calendar year (March 20, 2018), IRNA quoted Saeed Mohammadzadeh, the managing director of Islamic Republic of Iran ...
February 9, 2017

Iran may ink new contracts with foreign automakers soon

TEHRAN- Some foreign automakers are holding talks with Iranian carmakers over making new cooperation contracts and new agreements are possible to be signed by the end of current Iranian calendar month (February 18), the secretary of 4th Iran Automotive...
February 9, 2017

Kazakh, Iranian railways discuss expansion of ties

TEHRAN- In a Monday meeting in Tehran, the President of the National Railway Company of Kazakhstan (Kazakhstan Temir Zholy) Kanat Alpysbayev and General Director of Iranian Railways Saeed Mohammadzadeh discussed the issues of further strengthening rela...
February 9, 2017

Tehran, Seoul sign MOU on tax co-op

TEHRAN- South Korea's National Tax Service (NTS) Commissioner Lim Hwan-soo and Head of Iran's National Tax Administration (INTA) Seyyed Kamel Taghavinejad signed an MOU on bilateral tax administrative cooperation in Tehran, the portal of INTA reported.
February 8, 2017

Iran Domestic Internet Price to Drop by 50%

During the launch ceremony of the second phase of National Information Network, Iran’s Minister of Communications announced that the domestic Internet prices will drop by 50% in the upcoming week.

The post Iran Domestic Internet Price to Drop by 50% appeared first on TechRasa.

February 8, 2017

Petrochemical output reaches 42m tons in 10 months

TEHRAN – Iran’s petrochemical complexes’ output stood above 42.1 million tons during the first ten months of the current Iranian calendar year (March 20, 2016- January 19, 2017), Shana reported citing Iran’s National Petrochemical Company (NPC).
February 8, 2017

80% of basic goods being imported from Imam Khomeini Port

TEHRAN- About 80 percent of basic goods are imported to Iran from its southwestern Imam Khomeini Port, Managing Director of Iran’s Ports and Maritime Organization (PMO) Mohammad Saeednejad announced.
February 8, 2017

Work Starts to Develop Abadan Oil Refinery

Iran has launched a new project aimed at enhancing the capacity of Abadan Oil Refinery and stabilizing its operation. Located in the southwestern city of Abadan, the refinery will process 360,000 barrels/day of crude oil after the project is complete. Iranian Minister of Petroleum Bijan Zangeneh, attending a ceremony to break grounds for the project, […]
February 8, 2017

US Firms may be Hindered in Iranian Oil Projects

Iran has imposed no restrictions on U.S. oil firms willing to take part in energy projects in the country but American sanctions make such cooperation impossible, Iran’s deputy oil minister has said. “Iran has not imposed any restrictions on the U.S. companies, but they cannot participate in our (oil and gas) tenders due to the […]
February 8, 2017

Iran-China Trade Down by 7.7%

The total value of trade between Iran and China in 2016 fell by 7.7 percent compared to a year earlier, the East Asian country’s customs data showed. The value of transactions between Iran and China in 2016 stood at $31.2 billion, showing a 7.7 percent decrease compared to the same figure in 2015, the latest […]
February 8, 2017

Iran Mercantile Exchange plans Branch in Iraq

By John Lee. The Iran Mercantile Exchange (IME) has set up a taskforce to “strengthen and deepen” its relationship with Iraq. Among the areas being considered are free economic zones on both sides, simplification of customs regulations, and the use of modern financial instruments like Certificate of Depositary Receipt based on warehousing systems to be […]