Archive | Industry

President opens 17 projects in Qazvin

President Rouhani opened 17 industrial and infrastructural projects in Qazvin province. At the ceremony that was held on Sunday in the city of Qazvin, the centre of Qazvin province, Dr Rouhani opened the projects through videoconferencing. The projects were in the field of polymer and plastic production, wood, agriculture, animal husbandry, irrigation systems, park, gas […]

$500m Exports of Knowledge-Based Products in 3 Yrs

Iranian Minister of Science, Research and Technology Mohammad Farhadi said the country has exported more than $500 million worth of knowledge-based products over the past three years. Speaking to reporters in Tehran on Monday on the sidelines of the 5th Laboratory Equipment and Chemicals Exhibition (Iran Lab 2017), Farhadi said over 10,000 products have been […]

Zangeneh: Minimum Risk of New Sanctions

International companies should seize new opportunities for investment in Iran’s economic and energy sectors despite the talks about new sanctions in the wake of increasing political tensions between Tehran and Washington, a top oil official says. “If there are new restrictions, it will not affect the deals that are concluded after the easing of restrictions […]

Indigo Invests in Iranian Fast Moving Consumer Goods

Indigo Holdings plc, the Middle East focused Investment Company that provides investors with exposure to early stage businesses, has invested IRR 10,000,000,000 (Ten billion Rial), approximately £200,000, in FMCG, the recently established online retail delivery business of Yaran Daryan, the Iranian convenience store chain. Indigo has acquired a 15% equity stake in FMCG at a […]

Norwegian Firm in Iran Tech Transfer

Iran’s Petrochemical Research and Technology Company (PRTC) signed a heads of agreement (HoA) with Norway’s Norner, a global market leader of Industrial R&D services in polymers, for transfer of state-of-the-art technical savvy for production of polypropylene to PRTC. From PRTC Esmaeil Ghambari, the company’s managing director, and from Norner, director of its business development, Lars […]

Iran, Armenia promote Tax Cooperation

Head of the Iranian National Tax Administration and Ambassador of the Republic of Armenia discussed the most important tax issues, calling for promotion of economic and tax cooperation. During the meeting held in Tehran,  Sayyed Kamal Taghavinejad, Head of the Iranian National Tax Administration, pointed to the long-term political, economic and cultural relations between the […]

Lufthansa Eyes Catering, Maintenance, Training Deals with Iran Air

An official with Lufthansa said the German flagship airline is seeking to sign several contracts with Iran Air to provide the Iranian national flag-carrier airline with catering, maintenance and pilot training services. “We are in very, very intense discussions, actually almost on a weekly basis,” said Karsten Zang, Lufthansa’s regional director for the Persian Gulf, […]

Imports and Exports Increased, China is Main Partner

Iran’s non-crude-oil exports grew by 3.54 percent in the year ended 20th March 2017, reaching $43.930 billion. During the period, imports increased 5.16 percent to $43.684 billion. Main export items During the period under consideration, the main export items consisted of gas condensate with value of $7.320 billion, light oils and products except gasoline ($2.479 […]

Why Iran won’t ditch the Dollar soon

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. The Central Bank of Iran (CBI) has for some time been working on a plan to stop using the US dollar in its financial reports. In a program aired on Iranian state television Jan. 28, […]

Russia Hopes Iran SCO Membership Process Starts in June

Russian Foreign Minister Sergey Lavrov hopes that Iran’s SCO membership process would be launched in June. Moscow hopes that Iran’s Shanghai Cooperation Organization (SCO) membership process would be launched in June, Russian Foreign Minister Sergey Lavrov said Friday. “Next in line, many have said this today, is Iran, which as you know has settled the […]