Archive | Industry

Iran, Germany start new Power Talks

Iran and Germany have launched a new round of talks on setting up power plants in Iran, according to a report from Mehr News Agency. Olaf Lies (pictured), Minister of Economic Affairs, Labor and Transport for the federal state of Lower Saxony, met with Homayoon Haeri the managing director of Iran Power Generation and Transmission […]

“Prospects for 2016/17 are Brighter”, IMF

An International Monetary Fund (IMF) team has reported that comprehensive economic reforms will be needed in Iran if it is to benefit from the nuclear deal it struck with six world powers in July. It said real GDP growth is projected to decline from 3 percent in 2014/15 to somewhere between 0.5 to -0.5 percent in […]

Iranians to buy through Amazon, eBay

The Managing Director of the Iran Post Company has announced a major new initiative that will allow Iranians to shop online from major international retailers. Hossein Mehri (pictured) told Fars news agency: “From now on, Iranian citizens can directly buy from Amazon and eBay international retail sites (abroad) and receive their goods in Iran. “In our cooperation […]

Iran Insures Foreign Investors Against Non-Economic Risks

The President of the Organization for Investment, Economic and Technical Assistance of Iran says that any foreign investor wishing to enter the country will be fully insured against all non-economic risks by the government of the Islamic Republic of Iran. At the first international conference on Investment Opportunities in Transportation, Housing and Urban Development, Mohammad […]

Ministers Secretly Warn PM on Economy, but Why?

By Arash Karami, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Four ministers from the administration wrote a letter to President Hassan Rouhani (pictured) warning him that Iran’s economic situation could turn into a “condition of crisis” that would take many years to recover from. […]

Iran to Supply Water Treatment Materials to Iraq

By John Lee. Iraq‘s Ministry of Construction and Housing and Public Municipalities is reported to be about to sign a contract worth 10 billion Iraqi dinars ($8.6 million; 260 billion Iranian rials) with an Iranian company to buy chlorine and alum for water purification. Tariq al-Kikhany said that in view of the cholera epidemic that […]

Molaie Appointed Iranian Ambassador to Austria

Ebadollah Molaie has been appointed Iranian Ambassador to Austria, the Iranian Foreign Ministry said on Monday. The appointment proposed by Foreign Minister Mohammad-Javad Zarif and approved by President Hassan Rouhani. Moalie has a PhD in Politics, and served as deputy Iranian ambassador to Berlin, Director-General of Foreign Ministry’s Department of North and East Europe, Advisor […]

Can Iran Shield its Embattled Auto Sector?

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. Last week, a group of lawmakers from the Iranian parliament’s Industries and Mines Commission introduced a motion to further raise import duties on passenger cars. The underlying assumption is that Iran’s 48-year-old auto industry […]

French Companies Eye Iranian Market

Senior officials from more than 150 French companies visited Tehran recently to discussed investment prospects in oil, gas and other sectors. Eric Festa, the director general of Total E&P Iran, said that the company currently has to comply with international sanctions on Iran, but told Iran Daily: “Following the lifting of the embargoes, we will […]

What Rouhani’s done to Fight Corruption

By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. There has been a lot of talk in Iran about fighting administrative and financial corruption over the past decade. Yet, corruption has not diminished. Rather, the phenomenon has continued to plague the Iranian economy. […]

Iran Khodro Exports Break Records

By John Lee. Iranian vehicle maker Iran Khodro (IKCO) has exported over 6,000 vehicles to the international markets in the first half of the current Persian calendar year surpassing the car manufacturer’s export record throughout last year. IKCO ‘s Deputy for Export and International Department, Saeed Tafazzoli said IKCO’s main foreign site is located in […]

UK FM Hopes to Lead Trade Delegation to Iran

Britain’s Finance Minister George Osborne will lead a trade delegation to Iran next year if the Islamic Republic honours a nuclear deal with world powers, the Financial Times reported. “Assuming that Iran honors the nuclear deal, and it’s properly verified, I think there will be growing potential to do business with Iran,” the FT quoted […]

Iran, Iraq Foreign Ministers Meet

On the sideline of the UN General Assembly meetings, Iraqi foreign affairs minister Dr. Al-Jaafari met his Iranian counterpart, Mr. Mohammed Javad Zarif. During the meeting, they discussed the bilateral relations and horizons to promote them in the interest of the two neighbouring countries; in addition to, discussing the political and security situations in the […]

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Rouhani on Sustainable Development Goals

At the United Nations Sustainable Development Summit on 25 September, more than 150 world leaders adopted the new 2030 Agenda for Sustainable Development, including the Sustainable Development Goals (SDGs). The United Nations Development Programme (UNDP) will support governments around the world in tackling the new agenda and taking it forward over the next 15 years. […]

Linde Group Eyes Return to Iran

By John Lee. The Chief Executive Officer of Germany’s Linde Group has said Iran’s petrochemical industry is in an ‘acceptable’ state, but needs to be upgraded in some areas. In an interview with Shana, Wolfgang Buchele (pictured) told Shana during a Tehran visit in July. “We learned today there is an intention of the Ministry […]

Iranian Chargé d’Affaires to London Named

By John Lee. Iranian Foreign Minister Mohammad Javad Zarif has appointed Mohammad Hassan Habibollah Zadeh as Iran’s new Chargé d’Affaires to London. Habibollah Zadeh has already served as Iran’s non-resident chargé d’affaires to London and head of first bureau of Western Europe at the Iranian foreign ministry. He has also carried out missions to Russia […]

China to Incorporate Iran’s Nanotechnology

The Iran Nanotechnology Initiative Council (INIC) has opened an office in the Chinese city of Suzhou, with the aim of strengthening its communications with China in the field of nanotechnology. INIC Secretary General, Saeed Sarkar (pictured), said “we will be able to offer our nano-products to the world through China”, and that he hoped to […]

Will Boycott Stifle Iran’s Auto Industry?

By a Correspondent in Tehran, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Will boycott campaign put the brakes on Iran’s auto industry? Just as Iranian authorities are preparing for a post-sanctions economic revival, another problem has emerged. A group of Iranian citizens has launched […]

Accor Announces Tehran Hotels

France’s AccorHotels has announced that it has signed a management agreement with Aria Ziggurat for its two inaugural properties in Tehran. The new hotels – Novotel IKIA and ibis IKIA – are connected to the main terminal of Imam Khomeini International Airport and scheduled to open in October 2015. AccorHotels is the first international hotel […]

Video: Shopping Malls Sprout in Iran

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. The traditional bazaar has long been the place to shop in Iran but despite years of sanctions a new generation has discovered a vastly different consumer experience: blatant, unapologetic Western-style consumerism.