Archive | Industry

Dentons advises Quercus on €500m Solar Energy Deal

Dentons Europe LLP has advised Quercus, one of the world’s largest renewable energy investors, on a deal worth more than €500 million with Iran’s Ministry of Energy for the development, construction and operation of a 600 MW solar energy photovoltaic (PV) plant in Iran. This is Quercus’ first investment outside of Europe and represents the […]

Iranian Official Urges Enhanced Economic Ties with Iraq

Chairman of Iran-Iraq Chamber of Commerce Yahya Ale-Ishaq has hailed the political ties between Tehran and Baghdad, saying the two sides’ economic ties should also be strengthened. Speaking in a forum of Iranian and Iraqi traders, Al-e Eshaq said the economic relations between Tehran and Baghdad have not developed on par with the political and […]

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German Firm Starts Construction of Solar Plant

By John Lee. IRNA reports that a German-Iranian company has started construction of first phase of a new 100 MW solar power plant in Meybod. Pasargad Solar Projects Ltd is developing the project in collaboration with Kronos Solar Projects GmbH and Parsia Business Development Solutions. (Source: IRNA)

Korean Firm to Sell Navigational Aid Systems in Iran

By John Lee. Korea Airports Corporation (KAC) has reportedly signed an agency contract with Iran’s Tolid Malzomat Bargh (TMB) to have the company sell its navigational aid systems in Iran. According to Yonhap, TMB will sell its instrument landing system (ILS) and portable ILS/VOR Field Test Set (FTS), also known as a signal analyzer. (Source: […]

Trump Threatens to Pull Out of Iran Nuclear Deal

US President Donald Trump has threatened to terminate the Iran nuclear deal — the Joint Comprehensive Plan of Action (JCPOA) — if the US Congress and American allies don’t change the agreement. While not immediately pulling the US out of the deal, he said his administration was ready to negotiate on toughen the obligations on […]

President Trump’s New Strategy on Iran

“It is time for the entire world to join us in demanding that Iran’s government end its pursuit of death and destruction.” – President Donald J. Trump President Donald J. Trump, in consultation with his national security team, has approved a new strategy for Iran. It is the culmination of nine months of deliberation with […]

Iran’s Yazd Tire to supply Renault

By John Lee. Renault‘s Algerian subsidiary, Renault Algérie,  will buy 50,000 tyres from Iranian tyre maker Yazd Rubber Industries Complex. Yazd is also said to be in negotiations with Volkswagen following the German company’s entry into Iran. (Source: Tyrepress)

IMF Forecasts Economic Slump for Iran in 2017

The International Monetary Fund (IMF) predicted an economic slump for Iran in 2017. “Iran’s economic growth will slide to 3.5 percent in 2017 from 12.5 percent in 2016 but is expected to expand 3.8 percent next year,” it said, The National reported. It added that other oil producing nations are also expected to see a […]

Renault Will Not Leave Iran in Face of More US Sanctions

Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance, said the French carmaker would not “leave Iran” even if Washington re-imposed new sanctions against Tehran. “Obviously if it becomes impossible to deal with Iran we will put a plan together for the suspension of our business there, but that’s not at all to say that […]

UK Parliamentary Team Due in Iran in 3 Weeks

A delegation from the British Parliament will pay a visit to Iran within the next three weeks, an Iranian lawmaker announced. Speaking to Tasnim, Head of Iran-UK Parliamentary Friendship Group Alireza Rahimi said arrangements for the trip are being discussed with the British side. The visit would take place within the next three weeks, he […]

Switzerland’s Exports to Iran Rise in 2017

The volume of Switzerland’s exports to Iran grew in 2017, the spokesman for the European country’s State Secretariat for Economic Affairs said. “The positive trend for the export of goods – apart from precious metals – continued this year,” Fabian Maienfisch told the audience at the fourth Europe-Iran Forum external link, which is being held […]

Boeing First Loser If Trump Leaves JCPOA: Analyst

If US President Donald Trump scraps the 2015 nuclear deal between Tehran and world powers, the first loser may be US aircraft maker Boeing, an analyst said. “If Boeing isn’t able to deliver the airplanes to Iran, it probably would have some impact on the stock,” said Cowen aerospace analyst Cai von Rumohr, CNBC reported. […]

Iran, Turkey sign 4 Cooperation Pacts

Iran and Turkey have signed four Memorandums of Understanding (MoUs) to deepen relations between the two countries: between the Iranian Ministry of Economic Affairs and Finance and the Turkish Ministry of Customs and Trade; between the Central Bank of Iran (CBI) and the Turkish Central Bank; between the National Library of Iran and the Turkish […]

Pakistan to Import Additional Power from Iran

By John Lee. The government of Pakistan is considering importing 100 MW of additional electricity from Iran. According to a report from Pakistan Today the additional power would be used to meet the growing demand for electricity in Gawadar city. At present, power demand in the Gawadar area is met through import of 104 MW […]

Iranian Startups Thrive Despite Sanctions

Keeping the competition out: Iran startups thrive despite sanctions Low on cash but high on hope, Iran’s technology entrepreneurs are learning to live with revived hostility in the United States and growing suspicion – or worse – from hardliners at home. Their startups and e-commerce apps are flourishing, driven by government infrastructure support and young […]

Tehran Chamber of Commerce opens London Office

An office of the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) has been opened in London to attract foreign investment in the Islamic Republic. Speaking at the inauguration of the office, the head of the TCCIMA, Masoud Khansari, said following the 2015 nuclear deal between Tehran and six world powers, also known as […]

Iran-Serbia Joint Commission holds 1st Meeting

The first meeting of Iran-Serbia Joint Consular Commission was held in Tehran on Tuesday, October 3. The meeting was headed by Ali Chegeni, the Iranian foreign ministery’s director-general for consular affairs, and Aca Jovanovic, the Serbian assistant foreign minister for consular affairs. During the meeting, the Iranian and Serbian consular delegations conferred on ways to […]

Iran “Abandons Hope for WTO Accession”

By Saeed Jalili, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Hope for Iran’s long-overdue accession to the World Trade Organization (WTO) appears to have disappeared. The July 2015 Joint Comprehensive Plan of Action, signed between Tehran and six world powers, has done little to […]

Iran, South Africa Agree to Boost ICT Cooperation

Iran’s Minister of Communication and Information Technology Mohammad Javad Azari Jahromi and his South African counterpart agreed to promote cooperation between the two countries in the area of information communication technology (ICT). In a meeting held on the sidelines of ITU Telecom World 2017, taking place in Busan, South Korea, Azari Jahromi and Azwihangwisi Faith […]

Iran eyes Closer Ties with Singapore

Iran’s president congratulated his new Singaporean counterpart on taking office, hoping for the expansion of relations with the Southeast Asian nation in all fields. In a message on Monday, President Hassan Rouhani congratulated Halimah Yacob on becoming the eighth president of the Republic of Singapore. Given the mutual political determination and the great potential for […]