Archive | Industry

Iran Has “Means, Will” for Environmental Protection

An under-secretary-general of the United Nations lauded Iran’s “means and will” for investment in environmental protection plans on the road to sustainable development, warning against ignoring environmental costs of economic growth in many parts of Asia and the Pacific. In an op-ed article sent to Tasnim about sustainable development, Under-Secretary-General of the United Nations and […]

350MW new Power Generation Capacity

Three power plants with a total capacity of 350 megawatts (MW) of electricity will be added to Iran’s national grid in coming days, the managing director of the Thermal Power Plants Holding Company (TPPH) announced. In remarks released on Monday, Mohsen Tarztalab said the first unit of the gas sector of Dalaho Combined Cycle Power […]

Iran Plans Deep Cut in Reliance on Oil Incomes

Iranian Vice President Mohammad Baqer Nobakht said a new scheme to reduce the country’s reliance on oil revenues is expected to restrict the dependence on petrodollars to only 10 percent. Nobakht, who is also head of Iran’s Plan and Budget Organization, said the major scheme to lower the share of oil incomes in the budget […]

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Russia’s Energy Minister Urges Closer Ties with Iran

Russian Energy Minister Alexander Novak expressed his country’s determination to promote cooperation with Iran. Addressing a ceremony in Iran’s central city of Isfahan on Monday night, Novak described Russia and Iran as good neighbors and partners, saying the two nations are resolved to continue and enhance mutual cooperation. The Russian energy minister was speaking at […]

US “will continue Exemptions” for Iranian Power Imports

By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iran Business News. Iraq electricity minister: US will continue exemptions for Iranian electricity imports In an exclusive interview with Al-Monitor, Iraqi Minister of Electricity Luay al-Khatteeb talked about the situation of Iraq’s electricity […]

Iran, Iraq ready to Dredge the Shatt al-Arab

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iran Business News. After decades, Iran, Iraq ready to Dredge the Shatt al-Arab Hope of restoring a clean water lifeline to Basra province is on the rise again with plans by the Iraqi and […]

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“Invaluable Steps” to Cement Ties with Iraq

Iran Has Taken Invaluable Steps to Cement Ties with Iraq: Envoy Iran’s Ambassador to Iraq Iraj Masjedi highlighted the importance of bilateral relations between the two neighboring countries and said Tehran has taken major strides to strengthen ties with Baghdad. “We are trying to boost our relations with Iraq in all areas,” Masjedi said, addressing […]

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INSTEX “Expected to Be Ready Soon”

INSTEX -a payment channel that the three EU signatories to the JCPOA have set up to maintain trade with Iran- will be ready soon, German Foreign Minister Heiko Maas said Monday. “This is an instrument of a new kind, so it’s not straightforward to operationalize it,” Maas told reporters in Tehran ahead of talks with […]

Korean SMEs “Go Bankrupt” Due to Sanctions on Iran

The chairman of Iran-South Korea Joint Chamber of Commerce said following last year’s move by the US to renew sanctions against the Islamic Republic, some Korean companies went bankrupt. Speaking to Tasnim, Hossein Tanhayee pointed to the 70 percent fall in bilateral trade between Iran and South Korea after the re-imposition of the US sanctions […]

Iran, Iraq to Set Up 5 Joint Industrial Parks

The Iranian president’s chief of staff said Tehran and Baghdad have agreed to establish five joint industrial parks, including one in Iran’s border province of Kurdistan. Speaking at a meeting on economic development of Kurdistan in the city of Sanandaj on Saturday, Mahmoud Vaezi said Iran and Iraq have devised plans to set up five […]

Iran, Pakistan Moving Closer to Free Trade Deal

Iran and Pakistan are expected to finalize the draft of a free trade agreement (FTA) in forthcoming talks in Islamabad. A final draft of the free trade deal between Iran and Pakistan is expected to be hammered out in negotiations due to be held in Islamabad on April 22 and 23, the International News reported. […]

Iraq gives Iranians Visas Free of Charge

Iraq has begun issuing entry visa for Iranians free of charge in a reciprocal move under a deal. Iranians travelling to Iraq can now obtain visa free of charge. The Iraqi cabinet of ministers said the decision that took effect on April 1 has been made as a reciprocal move which had been agreed upon […]

Iran “ready to Expand Gas, Power Trade with Iraq”

President Hassan Rouhani has called for Iran and neighbouring Iraq to expand their gas and electricity dealings and boost bilateral trade to $20 billion, state TV reported, despite difficulties caused by US sanctions against Tehran. “The plans to export electricity and gas and hopefully oil continue and we are ready to expand these contacts not […]

Blockchain Startup could Transform Traffic in Iran

By Maziar Motamedi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. How this Blockchain Startup could help people Transform Traffic in Iran As the transportation industry continues to grow around the globe, traffic congestion remains as one of the most significant, largely unresolved issues of […]

Iraq “Needs to Buy Iranian Electricity for 3 Yrs”

Iraqi Parliament Speaker Mohammed al-Halbusi said he hopes the United States will keep waiving sanctions on energy imports from neighboring Iran, noting that the Arab country will need to purchase electricity from the Islamic Republic for three years. In November last year, Washington granted a 45-day waiver on electricity to the Arab country and extended […]

Iran GDP Shrinking

By John Lee. A new report from the World Bank Group forecasts real GDP growth (at constant market prices) of -1.6 percent for the year to the end of March 2019 in Iran, falling further to -3.8 percent next year: Economic growth in Iran continued to slowdown in the first quarter of 2018/19 (April-June) as […]

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Tehran’s Quality of Living Ranking …

By John Lee. Tehran has been ranked in 199th place in the Mercer 2019 Quality of Living Survey. This puts it just ahead of Karachi in Pakistan and Caracas in Venezuela, and just behind Luanda in Angola and Dar es Salaam in Tanzania. Vienna again retains the top spot; Zurich and Vancouver follow in second […]

Turkish-Iranian Trade Disappoints Big Time

By Mehmet Cetingulec for Al Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Turkey and Iran have maintained cooperation in regional affairs in recent years, including most notably joint efforts for a settlement in Syria but also solidarity against US and Israeli policies in […]

Renault to Return to Iran: Deputy Minister

An Iranian deputy minister said French carmaker Renault SA will return to Iran after it halted cooperation with Iranian companies under the US sanctions. In comments on Thursday, Deputy Minister of Industry, Mines and Trade Farshad Moqimi said Renault has made an investment of $1 billion in Iran. “Following the negotiations and consultations that have […]

Iran, Iraq “to Meet $20bn Trade Target in 2 Yrs”

Iran’s Minister of Industry, Mine and Trade Reza Rahmani said Tehran and Baghdad have agreed to reach the target of raising the value of annual trade exchange to $20 billion within the next two years. Speaking at a TV program on Wednesday, Rahmani stressed the need to exploit the potential of Iran and Iraq for […]

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