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Iran-Russia Gas Plans Affect World Market

Iranian Oil Minister Bijan Namdar Zanganeh highlighted the far-reaching effects of cooperation with Russia in the gas industry, saying the two countries can determine the international market situation by holding the world’s largest gas reserves. The cooperation between Iran and Russia, ranked first and second in the list of countries by gas reserves, would have […]

Media Workers warn of “Death of Independent Journalism”

By Zahra Alipour for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. “Working as a professional journalist is subject to obtaining a journalist’s license from the Media Governance Organization [MGO] of the Islamic Republic of Iran.” This sentence is part of Article 52 of the [MGO] Bill, […]

Unilever to Manufacture Food in Iran

By John Lee. Anglo-Dutch consumer goods company Unilever reportedly plans to set up a joint venture in Iran to make and market food in the country. The deal with local food group Golestan would see the venture will “develop, manufacture, market and sell new brands and line of food products in Iran market as part […]

Iran, China’s Economies Complementary: Minister

The economies of Iran and China complement each other, Iranian Minister of Industry, Mine and Trade Mohammad Shariatmadari said, stressing that the target of an average annual trade of $60 billion is within reach. In a meeting with chairman of China’s private sector chamber of commerce in Tehran on Wednesday, Shariatmadari stressed the need for […]

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Ahmadinejad moves to Target Influential Iranian Political Family

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. Once again, Iran’s former President Mahmoud Ahmadinejad has made headlines following his controversial remarks targeting judiciary chief Ayatollah Sadegh Amoli Larijani and his brother, parliament Speaker Ali Larijani. The war of words illustrates yet […]

Gazprom inks Docs for Cooperation in Iran

A Gazprom delegation headed by Alexey Miller, Chairman of the Company’s Management Committee, has paid a working visit to the Islamic Republic of Iran. In the course of the visit, Alexey Miller met with Bijan Namdar Zangeneh, Iran’s Minister of Petroleum. The parties confirmed their interest in advancing their partnership on a large scale and discussed potential areas of bilateral cooperation. Alexey Miller and Ali Kardor, Iran’s Deputy Minister of Petroleum, CEO […]

New Career Opportunities in Iran

By John Lee. The United Nations has advertised new jobs in Iran: Chief Operating Officer, Relief International National Programme Associate, United Nations Office on Drugs and Crime (UNODC) (Source: UN) (Picture credit: Amir1140)

Video: Does the US have a ‘Smoking Gun’ on Iran?

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. The US Ambassador to the UN displays ‘undeniable’ evidence of an Iranian missile fired at Saudi Arabia by fighters in Yemen. Nikki Haley says the missile parts point to Iran’s violation of an […]

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 […]