Iran Falls in Ease of Doing Business Index

By John Lee. Iran has been ranked 124th out of 190 countries in the World Bank‘s recent Doing Business 2018 report, down from 120th place the previous year. Despite the fall in the rankings, the report notes that over the previous year Iran improved access to credit information by reporting data on credit payments from […]

BASF seeks Catalyst Technical Savvy from Iran

German petrochemical heavyweight BASF has ordered 180 tons of methanol synthesis catalyst from Iran’s Petrochemical Research and Technology Company (PTRC). According to the National Petrochemical Company (NPC), Esmaeil Ghanbari, PTRC managing director, said the item was 10 years in the making by PTRC and its quality has been approved by BASF as superior to its […]

Former Central Bank boss denies meeting Zarrab

From Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran’s former Central Bank head Mahmoud Bahmani, reacting to Iranian-Turkish tycoon Reza Zarrab’s recent statements in a US court, says he never met with Zarrab. In his testimony in a New York trial, Zarrab, who was arrested in the […]

Domestic Refinery builds Transformer Oil Recycler

Imam Khomeini Oil Refinery has manufactured a transformer oil recycler to separate water and particles from the oil. Ali Jamshidi, managing director of the refinery, said the machine has been constructed with the aim of maximizing utilization of oil used in transformers of the facility. The machine separates moisture and floating particles from oil. It […]

Russia Hosting Conference on Iran-North Caucasus Cooperation

An international conference about ways to boost economic relations between Iran and the North Caucasus region opened in the Republic of North Ossetia-Alania in Russia on Tuesday. The international event is underway in North Ossetian State University in Vladikavkaz, the capital city of the Republic of North Ossetia-Alania, and will last for two days. The […]

Autoneum enters Iran Growth Market

Swiss-based company Autoneum has concluded an exclusive license agreement with Iranian automotive supplier Ayegh Khodro Toos (AKT) for the production and distribution of its multifunctional components for acoustic and thermal management in Iran. In the future, Ayegh Khodro Toos will produce carpet systems and inner dashes at its plant in Mashhad (Razavi-Khorasan province) for IKAP, […]

Austrian Company signs Study Deal with IDRO

The Industrial Development & Renovation Organization of Iran (IDRO Group) has signed a deal with Austria’s HOT Engineering for carrying out studies on Susangerd Oilfield in Iran. The group had previously signed a cooperation deal with the National Iranian Oil Company (NIOC) for developing the field. The document entails putting together a master development plan […]

Iran Boosts Condensate Exporting Capacity

Iran has improved Asalouyeh Gas Condensate Export Terminal so that three vessels can call at the terminal for loading gas condensate (ultralight crude oil) at the same time. Head of the terminal Gholamabbas Heidari said very important measures have been taken in the terminal for facilitating export of the item which include bolstering infrastructures as […]

Tehran, Baghdad sign One-Year Oil Swap Deal

Iraqi Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] said on Sunday that a deal signed with Tehran to swap up to 60,000 barrels per day of crude produced from the northern Iraqi Kirkuk oilfield for Iranian oil is for one year. “This is an agreement for one year and then we will see after that […]

Banking Problems between Iran & UK being Removed Gradually

Boris Johnson, the UK foreign secretary, has underlined Iran’s importance in the region and also reiterated his country’s support for maintaining the JCPOA, the 2015 nuclear agreement between Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany). In a Sunday meeting in Tehran with Head of the Atomic Energy Organization of […]

Rouhani Submits Budget Blueprint to Parliament

Iran’s President Hassan Rouhani on Sunday submitted the budget bill for the next Iranian fiscal year to the parliament, which maintains a cap on monthly subsidy payments to public and allocates part of the Subsidy Reform spending to health care and reduction of poverty. President Rouhani gave a speech to an open session of the […]

Iran Rises in Prosperity Index

By John Lee. Iran has risen one place in this year’s Legatum Institute Prosperity Index, ranking in 117th place out of the 149 countries measured. The index ranks countries according to its nine pillars of prosperity: Economic Quality, Business Environment, Governance, Personal Freedom, Social Capital, Safety and Security, Education, Health and Natural Environment. Despite the […]

Israeli Tech puts Iranian Startups in Bind

By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Israeli tech puts Iranian ride-hailing startups in bind Iran’s recent decision to once again block Waze, a mobile navigation app developed in Israel, has created a great deal of controversy in the country. The […]

Hungarian Bus-Maker to supply Iran

By John Lee. Hungarian bus maker Ikarus has reportedly signed an agreement to export 1,000 buses to Iran. Company Chairman Gábor Széles was among a 20-strong business delegation on an official visit to Iran last the weekend. The quantity is equivalet to one-third of full year’s production for the company. According to Budapest Business Journal, […]

Why is Iranian Rial suddenly Weakening?

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. A recent devaluation of the rial on the so-called free market in Iran has raised concerns that the country’s economy will experience another collapse of the value of its national currency similar to what […]

New Career Opportunities in Iran

By John Lee. The United Nations has advertised new jobs in Iran: Admin/Travel Intern, United Nations Development Programme (UNDP) Field Associate, United Nations High Commissioner for Refugees (UNHCR) National Consultant on Montreal Protocol, United Nations Industrial Development Organization (UNIDO) Protection Manager, Relief International (Source: UN) (Picture credit: Amir1140)

Turkmenistan to “Take Gas Dispute with Iran to Arbitration”

Turkmenistan plans to take a dispute with Iran over gas supplies to international arbitration, a report said. Turkmen President Kurbanguly Berdymukhamedov discussed the issue with Myrat Archayev, head of state gas firm Turkmengas, Turkmen state news agency TDH said on Tuesday. Archayev told Berdymukhamedov that talks had fallen through and the Iranian side had proposed […]

Iran to buy 120,000 Tons of Soymeal

Iranian state-owned animal feed importer SLAL has agreed to purchase around 120,000 tons of soymeal in an international tender at the weekend, European traders said on Monday. Traders said the sale was said to have been made by a small trading house believed to be from Russia, according to Reuters. “The main grain houses did […]

Erdogan helped Iran evade US Sanctions, Zarrab claims

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. A trial playing out in New York is being watched carefully in Turkey. That’s where a banker accused of helping to launder money for Iran is from. And wrapping up his testimony on […]

Iran, South Korea in €720m Rail Deal

Iran Rail Industries Development Company (IRICO) and South Korea’s Hyundai Rotem have signed a contract to jointly manufacture diesel rail-cars for public transport in suburban Tehran. The €720-million contract was signed during a ceremony in the Iranian capital, Tehran, attended by Iran’s Minister of Roads and Urban Development Abbas Akhoundi. Hyundai Rotem will produce 150 cars […]