Archive | Investment

Indigo Holdings acquires 5% of Iranian Car Share App

Indigo Holdings plc, the Middle East focused Investment Company, has acquired a 5% stake in the Iranian car ride-sharing app, Carvanro, after investing €176,800 in its Series A fundraising round. Carvanro is a car ride-sharing marketplace aggregator, which connects drivers and passengers embarking on the same car journeys. It provides a flexible and transparent platform […]

MTN Irancell Invests in IIG

The Iran Internet Group (IIG), the leading internet group in Iran with several million unique and paid transactions every month, just announced the closing of a funding round led by MTN Irancell. The group, whose ventures include the by far market-leading car hailing platform Snapp, has secured the funding in a move that will further […]

Iran, Iraq to build “Industrial Townships”

By John Lee. Iranian Industry Minister Mohammad Reza Nematzadeh (pictured) and his Iraqi counterpart Mohammad Shiya al-Sudani have reportedly agreed on designing and building “industrial townships” in some Iraqi provinces. According to IRNA, Nematzadeh said that there a total of 750 industrial townships where over 40,000 industrial and producing units are active, adding, “we are […]

Iran Eyes Joint Investment with Sweden

Iranian President Hassan Rouhani voiced the country’s willingness to make joint products with Sweden for exports to regional and international markets. As a regional hub of industry and diverse technologies, Iran is ready for joint investment with Sweden to manufacture joint products for exports, President Rouhani said at a meeting of high-ranking delegations from Iran […]

Iran Mercantile Exchange plans Branch in Iraq

By John Lee. The Iran Mercantile Exchange (IME) has set up a taskforce to “strengthen and deepen” its relationship with Iraq. Among the areas being considered are free economic zones on both sides, simplification of customs regulations, and the use of modern financial instruments like Certificate of Depositary Receipt based on warehousing systems to be […]

Iran Offers Private Sector Cooperation with Kyrgyzstan

Iran’s President Hassan Rouhani highlighted the ample grounds for cooperation between the private sectors of Iran and Kyrgyzstan. “Iranian companies are ready to expand cooperation with Kyrgyzstan in the fields of road construction, energy, technical and engineering services, medicine, and pharmacy,” President Rouhani said at a Sunday meeting with Kyrgyzstan’s new ambassador to Tehran. The […]

Iran in Talks with European Firms on Petchem Projects

Iran is negotiating with major European enterprises from France, Germany and Britain on cooperation in petrochemical projects, an official announced, saying the talks have not still led to any agreement. Speaking to reporters in Tehran on Wednesday, Managing Director of Iran’s National Petrochemical Company (NPC) Marziyeh Shahdaei said Iran continues to hold talks with France’s […]

Bank Mellat Shares Lose 37.5% in One Day

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 sudden and sharp fall in the main index of the Tehran Stock Exchange (TSE) on Jan. 24 came as a real shock to investors. After allowing the resumption of trade in Bank Mellat shares, […]

Iran and France sign five Agreements

By John Lee. Iran and France have signed five agreements at the end of a business forum hosted by the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA). The Memorandums of Understanding (MoU’s) included a cooperation document for development of Mashhad International Airport, two involving the Iranian Fisheries Organization, one for the construction of […]

Why Pension Funds could face Bankruptcy Tsunami

By Navid Kalhor, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. One of the key underlying economic challenges of Iran is the current underfunding of its pension system. Make no mistake: Pension reform must be a priority for the country. Figures posted by the Ministry of […]