October 22, 2016

Maersk Line Returns To Iran

By John Lee. Danish-based shipping company Maersk Line has announced that it will be resuming service to Iran following a five-year break. Christian Juul-Nyholm, Managing Director of the UAE branch of Maersk Line, said: “Global container trade has matured over the past years and is growing at a slower pace. Iran has the potential to […]
October 22, 2016

How Syria is pushing Egypt and Iran closer

By Rohollah Faghihi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Once again, Egypt and Iran appear to be heading toward rapprochement, with increasingly converging views on Syria bringing the two regional powers closer together. Tehran and Cairo have long followed a pattern of enthusiasm about […]
October 22, 2016

YouTube of Iran in a Lawsuit With IRIB

Last week, following the lawsuit filed by the IRIB against Aparat, all of Aparat's apps including Aparat, Filimo and Aparat Kids were removed from the biggest android market in Iran.

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October 22, 2016

Iran’s non-oil exports should increase 20% by Mar. 2017: industry min.

Tehran- “Iran’s annual non-oil exports, including exports of services and non-oil goods, should witness a 20 percent rise by the end of the current Iranian calendar year (March 20, 2017) compared to the previous year” the Iranian Industry Minister Mohammadreza Nematzadeh said in a ceremony held to celebrate the National Exports Day (October 20), IRNA reported on Thursday.
October 22, 2016

Iran opens business unit in Cape Town

TEHRAN- To bolster and facilitate mutual economic and trade ties between the two countries, the Islamic Republic of Iran opened a business unit in Cape Town, one of the three capital cities of South Africa, on Friday, IRNA reported.
October 22, 2016

$570m earmarked for facilitating exports

TEHRAN – The National Development Fund (NDF) of Iran has allocated 20 trillion rials (about $570 million) to provide facilities for the country’s exporters, IRIB reported on Thursday quoting Mojtaba Khosrotaj, the country’s deputy industry, mining, and trade minister.
October 22, 2016

Maersk Line resumes service to Iran

Maersk Line has resumed calls to Iran after a five-year hiatus and hopes that access to a new, rapidly growing market will help it through the current downturn.
October 21, 2016

Total to finalize $2b investment deal in Iran’s petchem industry

TEHRAN–France’s giant oil and gas company Total will finalize a $2 billion investment deal with Iran by the end of the current Iranian calendar year (March 20, 2017), IRNA quoted a petrochemical official as saying on Friday.
October 21, 2016

Western Insurers Target Iran

By John Lee. Reuters reports that Iran is in active talks with insurers to provide cover in a market valued at $9 billion last year, and potentially double that in the next decade. This is despite the fact that Iran has secured ties with only a limited number of smaller banks as U.S. sanctions remain […]
October 21, 2016

Investors “still in the Dark” on Oil Contract Terms

By John Lee. Senior executives from several major oil companies have told Reuters that they still had not been given sufficient information about the geology of Iranian fields or contract terms, and that they were also unclear about how quickly they would be able to recoup their investment and who they could partner with locally. […]
October 21, 2016

Iran’s Gas Exports to Iraq to Begin after Opening LC

The managing director of the National Iranian Gas Company (NIGC) said the Islamic Republic is fully ready to start exporting gas to neighbouring Iraq as soon as the Arab country opens a line of credit (LC) for the project. “Iraqis are now negotiating with international banks so they can open an LC,” Hamid Reza Araqi […]
October 21, 2016

Cabinet Shakeup Rattles Iran

By Rohollah Faghihi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Finally, after a week of speculation, three members of Iranian President Hassan Rouhani’s Cabinet were replaced Oct. 19. Minister of Culture and Islamic Guidance Ali Jannati, Education Minister Ali Asghar Fani and Minister of Youth […]
October 20, 2016

Japanese Traders Eye Iranian Oil

Reuters reports that Japanese traders are looking to resume oil imports from Iraq, possibly by the end of this year. According to the report, Japanese firms have so far avoided Iranian crude due to a lack of internationally acceptable insurance coverage, but are looking at ways of using cover provided by the Japanese government. Buyers […]
October 20, 2016

Luxembourg Eager to Invest in Iran

Luxembourg’s Deputy Prime Minister Etienne Schneider, who is in Tehran with a big business delegation, expressed the European country’s willingness to invest in Iran, which he described as a gateway to the Asian markets. In a meeting with Iran’s minister of communications and information technology, held in Tehran on Wednesday, Schneider called for stronger trade […]
October 20, 2016

Rouhani Appoints Three Acting Ministers

Iranian President Hassan Rouhani on Wednesday named three caretakers to lead the country’s ministries of culture and Islamic guidance, sports and youth affairs, and education. In separate decrees on Wednesday, President Rouhani appointed: Seyed Abbas Salehi as the acting Minister of Culture; Nasrollah Sajjadi [Seyed Nasrollah Sajjadi] as the acting Minister of Sports; and, Seyed Mohammad […]
October 20, 2016

FDI-Funded Solar Farm being Built in Shiraz

Iran is to build a solar power plant near the southern city of Shiraz with its budget supplied by foreign direct investment (FDI). Director General of economic and financial affairs of Fars Province Babak Daei has said the project is one of the 4 initiatives funded by foreign capital in the province. He said a […]
October 20, 2016

Denmark’s Exports to Iran Rise by 66%

Denmark’s Ambassador to Iran Danny Annan said his country’s exports to the Islamic Republic jumped by 66 percent in the 17 months ending May 31, 2016. “Bilateral trade is really blooming,” Annan said as cited by PH Post on Tuesday. “If you look at the first five months of 2016 and the total result of […]
October 20, 2016

German Transport Minister Due in Tehran Friday

German Transport Minister Alexander Dobrindt is scheduled to pay an official visit to Tehran this week to hold talks with senior Iranian officials. Dobrindt will lead a trade delegation to the Iranian capital on Friday to sit down with his Iranian counterpart Abbas Akhoundi, Reuters reported. It added that senior officials of the country’s engineering […]
October 19, 2016

Central Bank of Iran Regulated Mobile Wallet

With the new agreement between Iran’s first mobile operator and the Informatics Services Corporation, new banking services over mobile phones would be provided.

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October 19, 2016

Vision 2025 to facilitate reaching ECO targets: Iranian fin. min.

TEHRAN- Addressing the 7th meeting of the Economic Cooperation Organization (ECO) Council of Heads of Customs Administration (CHCA) in Tehran on Wednesday, the Iranian Finance Minister Ali Tayyebnia expressed hope that the preparation of the formulatio...