Canadians Accused of Exporting Rail Equipment to Iran

By John Lee. Two Canadians accused of illegally selling railway equipment to Iran appeared in court in Montreal on Wednesday. Michael Allen (67) and Hugo Dreckmann (75) were ordered to return to court on 19th February, 2016. The two, directors of Romic Marc Rail, are accused of illegally exporting nearly $10 million worth of American-made railway equipment to Iran, […]

Video: Iran Reveals Underground Missile Bunkers

From PressTV. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. This is the first time Iranian media are allowed there. Military officials say the tunnels are dug some 500 meters into high mountains. The Commander of Aerospace Force of Iran’s Islamic Revolution Guards Corps […]

Jet Engine Falls Off during Iran Flight

By John Lee. AFP reports that a Boeing 747 operated by Iran’s Mahan Air lost an engine shortly after takeoff from Tehran on Thursday. The flight, with 300 passengers on board, was destined for Bandar Abbas in southern Iran when one of its engines crashed into a nearby field, forcing the jumbo to return and […]

Video: Iran ‘deploys troops’ to help Syria

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. Thousands of Iranian troops are reported to have arrived in Syria to help the government carry out a ground offensive in northern Syria:

Iran to Launch over 50 New Oil Projects

Iran says it plans to introduce more than 50 new oil projects to international investors in what will be a key part of the country’s plans to boost oil production in an emerging post-sanctions era. Seyed Mehdi Hosseini, head of Iran’s Oil Contracts Restructuring Committee, has emphasized that the projects will comprise exploration and production […]

Kuwait may Import Gas from Iran

By John Lee. The Chief Executive of the Kuwait Petroleum Corporation (KPC) has said that his company has conducted negotiations with both Iran and Iraq to import gas. Nizar Al-Adsani (pictured) said in a statement: “Kuwait is in need of gas for power plants … [but] up until now we have not agreed on the […]

World’s Biggest Tour Firm Eyes Iran

By John Lee. Germany’s TUI Group, the world’s largest leisure, travel and tourism company, is reported to be considering investment in Iran. The minister of economic affairs, labor and transport for the federal state of Lower Saxony in Germany, Olaf Lies, told PressTV that preliminary negotiations have been held for the multinational tour operator to […]

Thailand to Assemble Toyotas for Iran

Toyota has announced that it will begin shipping cars to Iran from its assembly facilities in Thailand. Local press reports say that the Japanese auto maker will begin exporting fully-built vehicles to Iran in the coming weeks. It has not been announced which vehicles will be shipped from Thailand. (Source: Financial Tribune)

Iranian Parliament backs Nuclear Deal

Iran’s parliament has approved the deal on its nuclear programme. The official IRNA news agency said the deal was passed with 161 votes in favour, 59 against and 13 abstentions. However, parliament insisted that international inspectors would have only limited access to military sites. The Joint Comprehensive Plan of Action (JCPOA), finalised in July after […]

Extra Drilling Rigs to Boost South Azadegan

Twelve more drilling rigs will be added to the existing giant towers in the South Pars oil field in southern Iran upon signing of contracts with domestic and foreign firms, said an official in the Petroleum Engineering and Development Company (PEDEC). “The equipment will be installed by yearend. In the meantime, we expect activities to […]

British, Japanese Insurers visit Iran

The Chairman and CEO of the Iran Insurance Company has hosted representatives of the British United Insurance Brokers (UIB) and Japanese insurer, Sompo. The purpose of the meeting was to increase the level of interaction in the post-sanctions era, to develop reinsurance, to provide reinsurance coverage requirements, and to improve the coverage especially in property […]

FlyBaghdad Starts Iran Flights

By John Lee. Iraq’s youngest airline, FlyBaghdad, is to start flying between Iraq and Iran, according to a report from Gulf News. The airline’s Regional Commercial Manager, Mohammad Abdali, told the news agency that the Iraqi-owned airline will start flights from Baghdad International Airport to Tehran, Isfahan and Mashhad on October 16. He added that […]

OMV Seeks Technical Cooperation in Iran

A senior official with Austrian oil giant OMV says his company is hunting out technical cooperation in Iran for developing the country’s oil and gas fields. “Stronger technical cooperation in potential field developments in Iran by using new or existing technology” are the company’s future agenda in cooperating with its Iranian counterparts, said Stephan Hannke, […]

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 […]

UNDP Recruits for Roles in Tehran

The United Nations Development Programme (UNDP) has advertised for two jobs in Tehran: Technical Officer – click here for details; Procurement Clerk – click here for details. (Source: UNDP)  

Video: Washington Post’s Jason Rezaian Convicted

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. Judicial spokesman says the Iranian-American journalist accused of spying, can appeal undisclosed verdict. The Washington Post’s Tehran bureau chief has been held for more than 400 days, on accusations of spying. Al Jazeera’s […]

Video: Iran Successfully Test-Fires New Missile

From Iran’s PressTV. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. Iranian armed forces have successfully test-fired a new domestically built ballistic missile. The projectile dubbed “Emad” is a new generation surface-to-surface missile manufactured by Iran’s Defense Ministry. Defense Minister Hossein Dehghan says Emad […]

Iran ‘Key Player’ in Global War on Drugs

By Amir-Pasha Tabrizian, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Shortly after the announcement of the Joint Comprehensive Plan of Action (JCPOA) in July, thousands of Iranians took to the streets to celebrate the historic nuclear deal. “[Foreign Minister Mohammad Javad] Zarif, thank you,” […]

Foreign Partners Needed for HSE

An official in the Iranian Offshore Oil Company (IOOC) has called for the participation of foreign firms in managing health, safety, and environment (HSE) issues on oil platforms. “HSE is an imported concept and it can be delegated on a pilot basis to a competent foreign company,” said Iman Shirianpour, IOOC director of HSE. “In […]

IGRC-Linked Companies may Partner with IOCs

The man responsible for Iran’s new oil contracts has said that domestic companies linked to the Islamic Revolutionary Guards Corp (IRGC) may be approved to partner international oil companies (IOCs) in joint ventures. Seyed Mehdi Hosseini, head of the Oil Contracts Restructuring Committee, said: “The point of these Revolutionary Guards is that they are engineering companies, […]