October 14, 2016

Japan’s January-August Iranian crude imports up 25.8% y/y

Japan's Iranian crude imports rose 25.8 percent to 216,101 bpd in January-August from the same period a year ago after economic sanctions targeting Tehran's disputed nuclear program were lifted in January, the trade ministry data showed.
October 14, 2016

OICA ranks Iran as 20th leading carmaker

TEHRAN - Iran took the 20th place among the world’s leading automobile manufacturers in the second quarter of 2016, according to a recent report released by the International Organization of Motor Vehicle Manufacturers (Organisation Internationale des Constructeurs d'Automobiles, commonly abbreviated OICA).
October 13, 2016

Glencore seeking to Increase Oil Trading with Iran

By John Lee. Reuters reports that Glencore is seeking to increase oil trading with Libya, Iran and Iraq to beat what looks to be a much tougher trading environment compared with last year. Alex Beard, the company’s global head of oil, told the Reuters Commodities Summit, “we are currently lifting products from (Iran’s) NIOC and private […]
October 13, 2016

MTN Invests in “Iran’s Uber”

By John Lee. South African mobile phone company MTN Group has agreed to invest $22 million in Snapp.ir, Iran’s first cab-hailing smartphone app. Snapp CEO Shahram Shahkar informed Bloomberg that the funds would be used to allow the company to expand quickly from Tehran into other cities. He said it has grown to about 500,000 subscribers […]
October 13, 2016

Five Reasons Rouhani will be President for another Term

By Ali Omidi, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Former Iranian President Mahmoud Ahmadinejad’s attempt at a political comeback came to an abrupt end following his reported Aug. 30 meeting with the supreme leader. Ayatollah Ali Khamenei reportedly told Ahmadinejad that his provincial […]
October 13, 2016

Sparkle, TIC Partner to expand IP Network in Iran

Sparkle, the international services arm of Telecom Italia Group, and the Telecommunication Infrastructure Company of Iran (TIC), has signed a partnership agreement for the expansion of Sparkle’s Global IP Backbone Seabone in Iran with a new IP POP in Teheran. Through this new Point of Presence that will be in operations by end of this […]
October 13, 2016

Turkish Readymade Clothing Exports to Iran Soar

By John Lee. The President of the Istanbul Readymade Clothing and Confection Exporters’ Association (İHKİB) has said the lifting of sanctions against Iran has created huge opportunities for the sector. Hikmet Tanrıverdi said: “We have seen a dramatic rise in our exports to our neighbor Iran. While our exports to the Iranian market were $71 million […]
October 12, 2016

Iran to Ink Oil Contracts Worth $10bn by End of March

New oil contracts worth 10 billion dollars are expected to be signed in remaining half of the current Iranian calendar year (began March 20, 2016), the deputy petroleum minister said. Amir Hossein Zamaninia made the remarks on the sidelines of a ceremony for inking a cooperation document between Iran’s National Petrochemical Company (NPC) and the […]
October 12, 2016

IMF to strengthen Banking Ties with Iran

By John Lee. The President of the International Monetary Fund (IMF), Christine Lagarde, has reportedly promised to launch consultations with US authorities to remove barriers on cooperation between international and Iranian banks. Meeting with Iran’s Economy Minister Ali Tayebnia on the sidelines of the annual World Bank summit in Washington, she pointed to the persistence […]
October 12, 2016

RIPI signs Deal with Khazar E&P

The Research Center of Petroleum Industry (RIPI) has signed a deal with the Khazar Exploration and Production Company for geological studies. An agreement over surface geology studies at the Gorgan and Gonbad fields was signed on September 25, by Farhang Khatibi, the head of Khazar Exploration and Production Company, and Hamidreza Katoozian, the chief of […]
October 12, 2016

Why Central Bank can’t Control Money Markets

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. On Sept. 28, the Central Bank of Iran (CBI) announced a plan that would urge commercial banks as well as credit and finance institutions to keep deposits under a specific level or face disciplinary […]
October 11, 2016

Shell to Return to Iran

Iran’s National Petrochemical Company (NPC) and global oil giant Royal Dutch Shell signed a memorandum of understanding (MOU) for cooperation in the petrochemical industry. The MoU was signed by NPC CEO Marzieh Shahdaei and Hans Nijkamp, the head of the department for Iran affairs at Royal Dutch Shell on Sunday, Shana reported. Iran plans to […]
October 11, 2016

Iran tables $12bn Investment Pack in Istanbul

The National Iranian Gas Company (NIGC) has pitched investment opportunities valued at over $12 billion at the 23rd World Energy Congress in Istanbul, Turkey. Majid Boujarzadeh, NIGC’s spokesman, has said NIGC has displayed its activities in the fields of gas industry and distribution networks at the congress, IRNA reported. He said the overall value of […]
October 11, 2016

Finance Minister says Iran seeks ‘Resilient’ Economy

By Barbara Slavin, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran is pursuing a “resilient economy” that is less dependent on oil, has reduced nonperforming loans in its banking sector and is anticipating European participation in financing a landmark Boeing deal, according to Minister of […]
October 11, 2016

Zangeneh not to Participate in Istanbul Talks

Iranian Oil Minister Bijan Namdar Zangeneh will not attend informal talks between OPEC and non-OPEC producers scheduled to be held in Turkey this week, a report said. The oil ministers of Iran and Iraq will not take part in the talks in Istanbul, Turkey, which is hosting the World Energy Congress, Reuters reported on Monday, […]
October 11, 2016

US AT&T Partners with Iran’s RighTel

A spokesman for US mobile phone company AT&T said it has signed an agreement with an Iranian mobile phone operator to provide voice calls and data services to customers in the Islamic Republic. According to a report carried by the New York Times, Iran’s RighTel and AT&T signed the cooperation document last week, which will […]
October 11, 2016

The Story Behind Snapp’s $22M Raise

Yesterday TechCrunch reported that Snapp, Iran's leading Uber clone in Iran, has raised $22M which surprised many individuals inside the country, but as it turns out the $22M was raised for Iran Internet Group, Snapp's parent company.

The post The Story Behind Snapp’s $22M Raise appeared first on Techrasa.

October 9, 2016

Talks almost finalized between Iranian automaker, Mercedes-Benz

TEHRAN- Mansour Moazami, the Iranian deputy industry, mine and trade minister, announced that an Iranian auto manufacturer has conducted some negotiations with the German giant automaker Mercedes-Benz last week and the talks on mutual cooperation are a...
October 9, 2016

Iran’s crude price up 33 cent in a week

TEHRAN – Iran’s light crude oil prices witnessed a 33 cent increase for each barrel in the week ended on September 30, Shana news agency reported on Sunday.
October 9, 2016

Iranian exports to Armenia anticipated to reach $280m by Mar. 2017

TEHRAN- The value of exports from Iran to Armenia is anticipated to reach $280 million by the end of the current Iranian calendar year (March 20, 2017), Mojtaba Khosrotaj, the head of Iran's Trade Promotion Organization (TPO), announced while visiting ...