Iran, China sign 17 documents, MoUs

The Islamic Republic of Iran and People’s Republic of China signed 17 documents and Memorandums of Understanding aimed at developing and cementing ties. The documents were signed by the high-ranking officials of both countries at the presence of President Hassan Rouhani and President Xi Jinping. An MoU regarding Silk Road and establishment of a maritime […]

Global Insurers “Circling Iran for Business Opportunities”

Reuters reports that global insurance firms are “circling Iran for business opportunities“, and the first test of their appetite could come in March when some Iranian companies seek new cover. Insurers, reinsurers, and brokers are exploring ways to tap a market worth $7.4 billion in premiums; Allianz, Zurich Insurance, Hannover Re and RSA, for example, […]

Comprehensive Strategic Partnership between Iran and China

Full text of Joint Statement on Comprehensive Strategic Partnership between Iran and China At the end of Chinese President Xi Jinping’s trip to Tehran, the Islamic Republic of Iran and People’s Republic of China announced that by achieving a major agreement in all areas of bilateral relations and regional and international issues, they have established […]

Video: West-wary Iran Deepens China Ties

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. President Xi Jinping is one of the first world leaders to visit Iran since the lifiting of international sanctions. China signed 17 agreements with Iran to boost trade to 600 bn dollars. Xi’s […]

Is Iran prepared for more Saudi Surprises?

By Hassan Ahmadian, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. When two rivals constantly make contradictory strategic decisions, they are bound to eventually end up in a direct confrontation. Iran and Saudi Arabia are no exception. Since 2005, both countries have made conflicting strategic […]

Video: China President Visits Iran

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. Chinese President Xi Jinping arrived Friday in Iran on the third leg of a Middle East tour aimed at boosting economic ties with the region:

Iran to Generate 7,600MW from Renewables

By John Lee. Iranian Minister of Power Hamid Chitchian (pictured) said his ministry plans to reach an output of 7,500 megawatts from renewable energy by 2030. The power will be generated by wind, water, solar, biomass, and geothermal plants. He added that the ministry has managed to reduce energy wastage by 4 percent during the […]

Big Potential for Pakistani Food Exports to Iran

By John Lee. The head of the All Pakistan Fruits and Vegetables, Exporters, Importers and Merchants Association (PFVA) has estimated an export potential of $80 million with Iran. Chairman Waheed Ahmed said: “Pakistan can ship 80,000 tonnes of kinno worth $50 million annually, followed by 15,000 tonnes mango of $10.3m, mango pulp of $30,000 and […]

Investment Firms Buying Iran Shares

By John Lee. UK’s Charlemagne Capital has bought around $50 million of 18 Tehran-listed stocks, joining another British investment company, Sturgeon Capital, that bought shares in Iran’s stock market in December. The company was reported last year to have teamed up with Turquoise Partners, a Tehran-based investment firm. Dominic Bokor-Ingram from Charlemagne Capital told Reuters: […]

Japan Lifts Nuclear Sanctions on Iran

By John Lee. Japan lifted its sanctions on Iran on Friday. Chief Cabinet Secretary Yoshihide Suga (pictured): “Japan would like to strengthen our cooperative relationship with Iran further and contribute to the peace and stability of the Middle East through our traditional friendly relationship with Iran.” Reuters reports that Japanese companies, including those in the […]

Iran Supplies 10% of China’s Imported Oil

By John Lee. The Chinese Ambassador to Iran, Pang Sen, has said that Iran contributes 10 percent of China’s imported oil. Speaking ahead of the first visit to Iran by a Chinese head of state in 14 years, he added that China has been Iran’s largest trading partner for six consecutive years and also the […]

Suzuki Eager to Return to Iran

By John Lee. The President of Japan’s Suzuki Motor Corporation said on Thursday that it is considering re-entering the Iranian market: Toshihiro Suzuki told reporters: “We signed a licensing deal with Iran Khodro Industrial Group for local production in 2005. With the recent easing of sanctions, we’d like to consider restarting our business there.” Under […]

Iran Signs Electricity Deal with Malaysian Firm

By John Lee. SUNIR (Iran Power & Water Equipment and Services Export Company) has signed a technical and engineering cooperation agreement with Malaysia’s BNC Electrical. The 2-year contract was signed by Bahman Salehi (Sunir CEO) and Zeydan Almerani (BNC Electrical CEO). SUNIR has carried out over 200 power projects in the region ever since it […]

Int’l Banks Exploring Prospects in Iran

By John Lee. Reuters reports that Dubai’s largest lender, Emirates NBD (ENDB), is just one of the many banks that are already meeting prospective clients and taking legal advice about entering Iran. According to the report, non-U.S. banks may trade with Iran without fear of punishment in the United States, but U.S. banks may not, […]

Saudi-backed Shipping Line Resumes Iran Business

By John Lee. The United Arab Shipping Company (UASC) said on Wednesday it had “started accepting shipments to and from Iran,” according to a report from Reuters. The company, which suspended all Iran business in April 2013, is owned by the governments of the United Arab Emirates (UAE), Bahrain, Saudi Arabia (35%), Kuwait, Qatar (51%) and […]

Italian Group to Build 5 Hospitals in Iran

By John Lee. An Italian construction group has signed a preliminary agreement with Iran to build five hospitals, according to a report from The Local. Pessina Costruzioni will build the first three 1,000-bed hospitals in Tehran, with two other 500-bed facilities will be built in Rasht and Nishapur. Guido Stefanelli, the CEO of the Milan-based company, […]

One of the First Funds Investing in Iran Launched

International law firm Simmons & Simmons has acted on the restructuring of the Sturgeon Central Asia Fund, to enable it to be one of the first funds to invest in Iran. In a statement, the company said: “Although the repeal of pre-existing sanctions is good news for those wanting to do business with Iran, restrictions […]

Iran, Netherlands to Expand Oil Tech Ties

By John Lee. The Dutch Ambassador to Tehran, Susanna Terstal, said there is a vast potential for boosting ties between Dutch research firms with Iran’s Research Institute of Petroleum Industry (RIPI), saying that the sanctions’ removal paves the way for enhancing mutual ties between Dutch research institutes with their Iranian counterparts. Visiting RIPI this week, […]

Kazakh-Iranian Business Forum

By John Lee. The Trade Promotion Organization of Iran (TPO) will host the Kazakh-Iranian Business Forum on 7th February. Minister for Investment and Development of the Republic of Kazakhstan, Asset Issekeshev (pictured), and the president of the country’s largest state-run financial and investment company, Baiterek, Kuandik Bishimbayev, will attend the Forum, as will representatives of […]