Iran, Italy to Co-op in Airport Construction

By John Lee. Italy’s Vitali SPA will build a new terminal for Tabriz International Airport in northwestern Iran. ILNA reports that the Iranian Airports Holding Company (IAC) and Vitali signed the agreement for the investment, design and construction of the new airport terminal during the recent Iran-Italy trade meeting in Tehran. The estimated value for […]

Fight over Iran’s Access to Dollars takes Partisan Turn

By Julian Pecquet, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Congressional Republicans appear to be hurtling toward a showdown over Iran’s access to the US dollar with little or no support from Democrats, potentially dooming their legislative efforts to block further concessions to Tehran. […]

Kerry Says Iran Has Received Only $3bn Since JCPOA

US Secretary of State John Kerry said Iran has recovered only around $3 billion of frozen assets since it finalized a nuclear deal with six world powers. “Remember the debate over how much money Iran was going to get? Sometimes you hear some of the presidential candidates putting out a mistaken figure of $155 billion. […]

Austrian Company to Build Hospitals in Iran

Iran’s Social Security Organization and a major Austrian firm signed a Memorandum of Understanding (MoU) for the construction of two hospitals in the Islamic Republic. The report from Tasnim does not mention the name of the company. The MoU for the construction of the hospitals was signed on Wednesday during a ceremony attended by representatives […]

Iran Not to Relinquish Share in Oil Market

Iranian Oil Minister Bijan Namdar Zanganeh dismissed the idea of Iran joining other oil-producing countries in a possible freeze of production to counter low prices, insisting that Iran will by no means relinquish its “historical” share in the global oil market. Speaking in a television talk show, Zanganeh made it clear that Iran “cannot relinquish […]

Video: Iran unveils S-300 Missile System Parts

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. Iran used its annual Army Day parade Sunday to showcase parts of a long-awaited air defence system ordered from Russia, a move likely to irk critics of the arms deal.

Russia Says Legal Barriers for Iran Loan Cleared

A Russian deputy minister said that the legal barriers for Moscow’s key state loan to Tehran have been lifted. “Contradictions in the intergovernmental loan have been removed,” Russian Deputy Foreign Minister Sergei Storchak said as quoted by Sputnik on Monday. “We’ll sign them (the documents) as soon as the decision is made by the authorities,” […]

Prague to Cooperate with Tehran on Joint Project

Czech Deputy Foreign Minister Martin Tlapa, who is on an official visit to Tehran, voiced his country’s willingness to boost cooperation and implement joint projects with the Islamic Republic in various areas of economy. Speaking at a meeting with Iranian Deputy Foreign Minister for American and European Affairs Majid Takht Ravanchi in Tehran on Monday, […]

German Economy Minister Due in Iran Next Month

German Economy Minister Sigmar Gabriel will pay an official visit to Iran in coming weeks to finalize agreements on a number of joint development projects, Iranian Minister of Road and Urban Development Abbas Akhoundi said. Akhoundi, who is on a visit to Germany, described his meeting with Gabriel as “very constructive” and said the German […]

Video: Iran says cannot access Frozen Funds

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. The Governor of Iran’s Central Bank, Valiollah Seif, tells the Council on Foreign Relations in Washington that Iran still cannot access its frozen funds abroad and he doesn’t think that their Western partners are […]

Iran’s Pasta Holding, Italy’s Itway Sign Deal

Itway SpA, an Italy-based holding company, has signed an agreement with Iran’s Pasta Holding to develop common network projects in the Islamic Republic following the removal anti-Iran sanctions. According to a report carried by Reuters on Wednesday, the agreement aims to identify and develop common projects in Iran in the fields of Networking, Data Center, […]

Rouhani Hopes for Enhanced Ties with Afghanistan

Iranian President Hassan Rouhani in a meeting with Afghanistan’s Chief Executive reaffirmed Tehran’s support for the Afghan nation and government, and urged the deepening and strengthening of mutual cooperation between the two neighboring countries. During the Thursday meeting with Abdullah Abdullah held on the sidelines of the Organization of Islamic Cooperation (OIC) Summit in the […]

EU Delegation visits Iran

On 16 April 2016, the EU High Representative and Vice-President of the European Commission (HRVP) Federica Mogherini met Iranian Foreign Minister Mohammad Javad Zarif in Tehran. European Commission representatives present included EU Commissioners Elżbieta Bieńkowska (Internal Market, Industry, Entrepreneurship and SMEs), Miguel Arias Cañete (Climate Action and Energy), Christos Stylianides (Humanitarian Aid and Crisis Management), Violeta Bulc […]

Air France to Resume Direct Flights to Tehran Sunday

The French airline company, Air France, will resume direct flights to Tehran on Sunday following the removal of anti-Tehran sanctions. According to a report carried by the Financial Times on Friday, “Air France is set to resume Paris-Tehran flights on Sunday”. The resumption of a thrice-weekly service between Paris and Tehran is planned for April 17 […]

Iran’s President in Ankara for Official Visit

Iranian President Hassan Rouhani arrived in Ankara at the invitation of his Turkish counterpart Recep Tayyip Erdogan for an official visit that would include a meeting of high-ranking delegations to sign new agreements. The Iranian president and his entourage arrived in Ankara’s Esenboga airport on Friday evening, and received a welcome by Turkish Minister of […]

Iran revs up for Auto Revolution

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 auto giant PSA Peugeot Citroen has become the first foreign company since the Jan. 16 implementation of the Joint Comprehensive Plan of Action to obtain a license from the Iranian government to invest […]

IRGC Commander Orders Flood Relief for Victims

Commander of the Islamic Revolution Guards Corps Major General Mohammad Ali Jafari ordered the IRGC units in flood-stricken provinces of Iran to fully employ their capabilities to provide relief aid to victims. Speaking to the Tasnim News Agency, IRGC Spokesman General Ramezan Sharif said the top commander has issued an order to provide relief aid […]

Time Ripe for Rise in Trade with Indonesia

Iranian President Hassan Rouhani called for efforts to use the good opportunity for a jump in economic relations between Tehran and Jakarta, as a lasting nuclear deal with world powers has rid Iran of the sanctions and enabled it to reconnect to the international banking network. The removal of sanctions and reconnection of the banking […]

Italy extends $5bn Credit Line and Export Guarantees to Iran

During the visit of Italian Prime Minister Matteo Renzi to Iran, Italy’s Cassa Depositi e Prestiti (CDP Group), along with SACE and SIMEST, has announced that it is supporting Italian exports to Iran through a series of common integrated initiatives: € 4 billion in credit lines issued by CDP under the “export bank” system to […]