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Iran’s Exports to Syria Double

The total value of Iran’s exports to Syria over the first four months of the current Iranian year (which started on March 21, 2017) has doubled compared to the same period last year, a senior official at the Trade Promotion Organization (TPO) announced. During the first four months of the last Iranian year (March 20, […]

Armenia and Iran Cooperate on Free Trade Zones

By John Lee. Iran and Armenia have reportedly signed a memorandum of understanding to broaden cooperation between Iran’s Aras and Armenia’s Meghri free trade zones. At the signing in Yerevan, the Iranian President’s Advisor and Secretary of Free Trade Zones Coordination Council, Akbar Torkan, described the Aras free trade zone is a door of cooperation […]

Korean Firm signs Deal with Iranian Pharma

Korea’s Dong-A ST has reeportedly reached a technology transfer agreement with Iranian pharmaceutical firm Rooyan Darou. Under the agreement, Dong-A ST will immediately share its production technology of two therapies — growth hormone injection Growtropin and leukopenia therapy Leucostim — with the Tehran-based company. Rooyan Darou will also be granted a license to make and […]

Iran World’s “Riskiest” Country for Money Laundering

By John Lee. Iran has been listed as the country with the highest risk for money laundering. The Basel Anti-Money Laundering (AML) Index measures the risk of money laundering and terrorist financing of countries based on publicly available sources. A total of 14 indicators that deal with AML/CFT regulations, corruption, financial standards, political disclosure and […]

Iran Eyes over $50bn Worth of Oil Contracts

Iranian Oil Minister Bijan Namdar Zanganeh said he would make efforts to pave the grounds for signing $50 to $60 billion worth of oil and gas contracts with foreign companies by the end of the current Iranian year (March 20, 2018). Speaking to the Islamic Republic of Iran Broadcasting (IRIB) on Sunday night, Zanganeh, who […]

Foreign Funds for Irans Oil Sector a Top Priority

Attracting foreign investment for Iran’s oil sector will continue to be a top priority during President Hassan Rouhani’s second term, Iranian Oil Minister Bijan Zanganeh said on Sunday. “Attracting foreign investment and technology is a priority for us in the oil industry, whether in shared fields or for increasing the production of oil at fields […]

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Iranian Labour Market on Path to Gender Transformation

By Maysam Bizaer for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iranian society has undergone tremendous change in past decades, with women continuously playing a role in this transformation. Indeed, Iranian women have long sought a more active presence in society, gradually distancing themselves from the […]

Inpex to Return to Azadegan Oil Field?

Japan’s biggest oil and gas explorer Inpex Corp might participate in a tender to develop the Azadegan oil field in southwestern Iran and form a consortium with other foreign oil firms to that end, a high-ranking Iranian official said. If Inpex gets involved in the Azadegan again — after giving up its stake in the […]

Zanganeh Re-elected for Another 4 Years

Bijan Namdar Zanganeh was reappointed as the Minister of petroleum by obtaining 230 votes in favor, in parliament (Majlis) on Sunday. He has gained the majority of MP’s vote of confidence and has re-elected as the Minister of Petroleum in the cabinet of President Hassan Rouhani for another 4 years. Bijan Zangeneh was born on […]

Essar Oil’s Iran Debt expected to be Paid

By John Lee. India’s Essar Group has completed the sale of its 98.26-percent holding in Essar Oil to Russia’s Rosneft and partners. Rosneft will take a 49.13 percent stake in Essar Oil, with a consortium of Trafigura and United Capital Partners (UCP) taking an equal stake, Essar Oil said in a statement. Essar Oil still owes […]