December 14, 2016

Iran, Russia Plan to Set Up Joint Islamic Bank

Russian Energy Minister Alexander Novak said Iran and Russia are exploring the possibility of establishing a joint Islamic bank. “The creation of a Russian-Iranian Islamic bank was discussed. Our banks are exploring the mechanism, the related decision has not been made yet,” Novak said on Tuesday at a meeting of the permanent Iranian-Russian intergovernmental commission […]
December 14, 2016

Iran among 2017 Top Travel Destinations

Iran has been named as a top travel destination for 2017 as the country’s tourism market is undergoing rapid change following last year’s landmark nuclear deal between Tehran and world powers. In a recent report, Britain’s Business Insider named Iran among 50 places to travel to in 2017, commending the country’s security as a key […]
December 14, 2016

Why do Iran’s Conservatives Oppose Deals with Boeing, Hyundai?

By Changiz M. Varzi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran’s national carrier Iran Air and US aircraft manufacturer Boeing signed a $16.6 billion deal for the sale of 80 passenger jets Dec. 11, despite strong opposition from the US House of Representatives. […]
December 14, 2016

Iran, Belarus discuss trading oil, manufacturing equipment

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said on Tuesday Iran is considering cooperation with Belarus in oil industry equipment manufacturing and also oil trade, IRNA reported.
December 14, 2016

Tehran, Moscow explore setting up Islamic bank

Russia and Iran are exploring the establishment of an Islamic bank as the two countries expand their economic cooperation, the TASS news agency cited Russian Energy Minister Alexander Novak as saying.
December 14, 2016

Iranian, Indonesian private sectors to cement ties

TEHRAN- Iranian and Indonesian chambers of commerce penned 10 memoranda of understandings (MOUs) on cooperation in banking, insurance, stock market, and industry sectors.
December 14, 2016

Iran says Boeing to provide financing for firm’s first six planes

Boeing has agreed to provide financing for the first six planes it sells to Iran, Iran Air chief Executive Farhad Parvaresh was quoted as saying by Fars news agency on Tuesday.
December 14, 2016

Polish Foreign Investment Agency to open office in Tehran

TEHRAN- Polish Information and Foreign Investment Agency (abbreviated to PAIiIZ in Polish) will open an office in Tehran and has already received the necessary permit, according to Wojciech Fedko, a member of the board in the agency.
December 14, 2016

Iran, Turkey mull over boosting transport, communication bonds

TEHRAN- Turkish Transport Minister Ahmet Arslan conferred on expansion of transport and communication ties with Iranian Transport Minister Abbas Akhoundi and Communication Minister Mahmoud Vaezi in Tehran on Tuesday.
December 14, 2016

Switzerland calls for stronger co-op with Iranian SMEs

TEHRAN – Former Swiss ambassador to Iran, Livia Leu Agosti (L), has voiced her country’s willingness for boosting economic cooperation between Iranian and Swiss small and medium-sized enterprises (SMEs), Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) portal reported.
December 14, 2016

Indonesia’s Pertamina may sign deal with Iran for 2017 LPG imports

Indonesian state energy company Pertamina may sign a deal to import Iranian liquefied petroleum gas (LPG) in 2017 when Indonesia's president visits the country this week, company officials said on Tuesday.
December 14, 2016

Iran agrees to negotiate GSPA amendment with Pakistan

Iran has agreed with Pakistan to negotiate amendment in the Gas Sale Purchase Agreement (GSPA) for implementation of the IP gas pipeline project in the extended period.
December 14, 2016

Gazprom Neft, NIOC sign MOU, strengthening Iran-Russia energy ties

TEHRAN– Gazprom Neft PJSC, a subsidiary of Russian oil giant Gazprom, signed a Memorandum of Understanding (MOU) with National Iranian Oil Company (NIOC) on Tuesday for carrying out development studies on two Iranian oilfields, Shana reported.
December 14, 2016

Boeing, Iran Air agree $16.6bn Aircraft Deal

Boeing and Iran Air announced an agreement on Sunday for 80 aircraft that includes 50 737 MAX 8s, 15 777-300ERs and 15 777-9s, valued at $16.6 billion at list prices. Based on its Memorandum of Agreement (MOA) with Iran Air announced in June, the contract was reached within the terms of the U.S. Government license […]
December 14, 2016

Russia Signs Deal to Develop Iranian Oil and Gas Fields

High-ranking officials from Iran’s oil ministry and the giant Russian oil and gas company Gazprom have signed a major deal on Tuesday to promote cooperation in the development of two oil fields in western Iran. In a ceremony on Tuesday attended by Iranian Oil Minister Bijan Namdar Zanganeh and Russian Energy Minister Alexander Novak, the […]
December 14, 2016

$500m Allotted to Iran Border Province Development

The Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei has issued an order to withdraw a sum of $500 million from the country’s sovereign wealth fund for development projects in the southeastern province of Sistan and Balouchestan. Speaking on the sidelines of a military event on Monday, Iran’s Parliament Speaker Ali Larijani unveiled plans […]
December 14, 2016

Oil Minister Hails Iran-Russia Cooperation in Oil Recycling

Iranian Oil Minister Bijan Namdar Zanganeh said the National Iranian Oil Company (NIOC) has begun close cooperation with Russian firms in oil recycling. “Various Russian oil companies have started their cooperation with the NIOC at a very good level for the development of oil fields and oil recycling,” Zanganeh said at a meeting with Russian […]
December 14, 2016

Rouhani’s Budget Proposal Reverses Declining Reliance on Oil

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. Iranian President Hassan Rouhani presented the last budget bill of his current term to the parliament Dec. 4. The state budget for the next Iranian year, beginning March 21, 2017, will exceed 10 quadrillion rials […]
December 13, 2016

Iran, Airbus hopeful of finalizing deal in two weeks

European plane maker Airbus and Iran Air will finalize a deal to buy aircraft in two weeks, the head of Iran's flag carrier said on Tuesday, adding Airbus has agreed to provide financing for 17 planes.
December 13, 2016

Tehran, Moscow open new page in energy, industry ties

TEHRAN- Iran and Russia signed 11 memoranda of understanding (MOUs) on energy and industry cooperation in Tehran on Tuesday.