November 28, 2016

Tehran attracts $960m foreign investments in 8 months

TEHRAN- Head of Tehran's Management and Planning Organization Nematollah Torki announced on Sunday that $960 million of foreign investments have been made in the Iranian capital during the first eight months of the current Iranian calendar year (March ...
November 28, 2016

US Treasury Assures Brazilian Banks of Iran Trade

A senior Brazilian official said the US Treasury Department has given assurances that Brazilian banks can do trade with Iran without fear of sanctions. “They (Brazilian banks) feared US and European banks could react by cancelling their credit lines,” Rodrigo Azeredo, Brazil’s top diplomat for trade, told Reuters on Wednesday. During a meeting in Sao […]
November 28, 2016

Why Iran’s Private Sector hasn’t Benefited from Privatization

By Navid Kalhor, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Privatization in Iran only effectively started in 2001. Five years later, in 2006, Supreme Leader Ayatollah Ali Khamenei backed a constitutional amendment — the Law on Implementation of General Policies of Article 44 of the Constitution […]
November 28, 2016

Iran: $1.5 Trillion Electronic Money Transfers in Online Banking

A total of $1.5 Trillion on electronic based transfers and settlements has been made in the recent year with online banking alone which makes the need of an integrated information system more vital.

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November 28, 2016

NISOC-Schlumberger sign Oilfield MoU

Transfer of technology and information and skill sharing are the targets of the Memorandum of Understanding (MoU) and Non-Disclosure Agreement (NDA), signed by the NISOC and Schlumberger Limited on Sunday. The MoU and NDA fall within framework of the National Iranian South Oil Company’s (NISOC) contract. The Official with the Working Group in charge of […]
November 28, 2016

Italy’s Eni Eying Iran Investments

Italy’s oil giant Eni says it has serious plans to return to Iran’s oil industry in a yet another indication of the growing interest of global energy corporations to approach the country’s post-sanctions business opportunities. Eni CEO Claudio Descalzi told Reuters that his company would start working again in Iran when it has been repaid investments […]
November 28, 2016

Oil Chopper crashes in Caspian Sea – 5 Dead

A helicopter that crashed in the Caspian Sea early Sunday was a Mil Mi-17 chopper in possession of the Islamic Revolution Guards Corps (IRGC) Aerospace Force, and four of the five victims were servicemen, IRGC spokesman announced. According to Head of the IRGC Public Relations Department General Ramezan Sharif, the IRGC helicopter was at disposal […]
November 28, 2016

Railroad Chief Resigns over Fatal Train Crash

Managing Director of the Islamic Republic of Iran Railways Mohsen Pourseyyed Aqaei resigned after a train crash that killed 45 people in the province of Semnan on Friday, offering an apology to the nation for the deadly incident. Speaking to IRIB news on Saturday night, Pourseyyed Aqaei said the Minister of Road and Urban Development […]
November 27, 2016

Germany’s KfW agrees on 1.2 billion-Euro Iran rail loan

TEHRAN - Germany agreed to provide Iran with a 1.2 billion euro ($1.27 billion) credit line to help finance a rail project , according to an official at the Central Bank of Iran.
November 27, 2016

Germany’s KfW agrees on 1.2 billion-Euro Iran rail loan

TEHRAN - Germany agreed to provide Iran with a 1.2 billion euro ($1.27 billion) credit line to help finance a rail project , according to an official at the Central Bank of Iran.
November 27, 2016

Azadegan Oil Field to Be Put Out to Tender

The deputy head of the National Iranian Oil Company (NIOC) said the country plans to put the development of the South Azadegan oil field out to tender, dismissing reports that the project will be awarded to France’s oil giant Total without its participation in the bid. “The NIOC has no intention to entrust the development […]
November 27, 2016

India Invests $5.5bn in Iran to Raise Refinery Capacity

By John Lee. A $5.5 billion investment by the Indian Oil Corporation (IOC) will increase the capacity of the firm’s smallest refinery, co-owned by Iran, to 300,000 barrels per day, according to a report from OilPrice. Reuters reports that the project to renovate Chennai Petroleum Corp.’s Nagapattinam refinery will allow Iran to meet demand for […]
November 27, 2016

Startup Culture and How to Form It?

Building a culture in a startup company is very interesting. Basically, in most startups, the startup culture is influenced by founders.

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November 26, 2016

Iran’s TPO inks MOU with ITC

TEHRAN- Iran’s Trade Promotion Organization (TPO) signed an MOU with International Trade Center (ITC) on the sidelines of the 11th Trade Promotion Organizations (TPOs) Network World Conference, in Marrakech, Morocco, the portal of TPO reported on Saturday.
November 26, 2016

Iran’s TPO inks MOU with ITC

TEHRAN- Iran’s Trade Promotion Organization (TPO) signed an MOU with International Trade Center (ITC) on the sidelines of the 11th Trade Promotion Organizations (TPOs) Network World Conference, in Marrakech, Morocco, the portal of TPO reported on Saturday.
November 26, 2016

Iran joins International Energy Charter

TEHRAN – Iran has officially become a member of the International Energy Charter with signing the charter’s declaration on Friday, the portal of Energy Ministry reported.
November 26, 2016

Iran joins International Energy Charter

TEHRAN – Iran has officially become a member of the International Energy Charter with signing the charter’s declaration on Friday, the portal of Energy Ministry reported.
November 26, 2016

Mercantile exchange picks up 15% in a month

TEHRAN- More than two million tons of commodities, at the value of 33 trillion rials (about $914.3 million) were traded on the physical market at Iran Mercantile Exchange (IME) during the eight month of the Iranian calendar year, Aban (October 22- Nove...
November 26, 2016

Mercantile exchange picks up 15% in a month

TEHRAN- More than two million tons of commodities, at the value of 33 trillion rials (about $914.3 million) were traded on the physical market at Iran Mercantile Exchange (IME) during the eight month of the Iranian calendar year, Aban (October 22- Nove...
November 26, 2016

Iran most vibrant economy in MENA during 2017-21: EIU

TEHRAN- In its recent global forecast the Economist Intelligence Unit (EIU) said Iran will be the most vibrant economy in the Middle East and North Africa (MENA) during 2017-2021.