Iran gives 30-day visas at airports

By John Lee. Iran is to start issuing 30-day visas for tourists from 58 countries upon arrival at its airports. The Persian-language newspaper Donya-ye Eqtesad says the visas can be extended by 15 more days. Foreign tourists could previously get 14-day visas at Iran’s airports and their visas could not be extended. Eligible countries are: […]

Russia to Build $1.2bn Electric Rail Line in Iran

By John Lee. Iran said on Thursday that it plans to award a $1.2-billion electric train project to Russia. Abbas Akhundi (pictured), Iran’s minister of roads and urban development, told reporters that the new service will connect Garmsar in eastern Tehran to the border town of Incheh Borun in the northeastern Golestan province. The proposal […]

120 Chinese Firms Involved in Iranian Projects

By John Lee. Iran’s former ambassador to China, Fereidoun Verdinejad (pictured), said about 120 Chinese companies are currently engaged in projects in Iran, according to a report from IRNA. Adding that trade could easily rise to $50 billion, he said cooperation between the two countries could focus on areas such as reviving the Silk Road, […]

Gazprom offers Gas Swap Deals

By John Lee. Russian-controlled gas producer Gazprom has offered gas supplies to Iran under a swap arrangement, according to Reuters. Iran normally supplies gas to its northern regions from the south of the country and the proposed swap deals would help to cut its transportation costs. “We could supply gas through to Iran’s north and […]

Tabriz Power Plant Closed on Pollution Concerns

By John Lee. IRNA reports that the Tabriz thermal power plant has been closed following news that it was using low quality fuel to generate electricity, leading to increased pollution. The 28-year-old plant, designed and constructed by the French company Alstom, is only allowed to use gas, but has been found to be using ‘mazut’, also […]

Russia to Open $5bn Iran Credit Line

By John Lee. Russia plans to open a US$5 billion credit line for Iran to help finance infrastructure projects in the country, according to a report from AFP. During a visit by Moscow’s energy minister, Alexander Novak (pictured), to Iran on Thursday he told Iranian Telecommunications Minister Mahmoud Vaezi, “we hope we can open a […]

Swiss Govt to Ease Iran Sanctions

By John Lee. According to a report from Associated Press, the Swiss government says it plans “in principle” to ease sanctions against Iran in line with the European Union and the United Nations following an international accord on Tehran’s nuclear program. The Federal Council said it has instructed the Economy Ministry to prepare changes to […]

Italian Textile Machinery Makers to Visit Iran

Iran has historically been a primary trading partner for Italy’s textile machinery industry. Although international sanctions have blocked the flow of textile machinery exports to Iran, it is hoped that the recent nuclear agreement may pave the way toward a competitive relaunching of the local textile industry. To consolidate its presence in Iran, ACIMIT, the […]

Destinia Opens New Office in Iran

By John Lee. The Spanish online travel agency Destinia has opened an office in Iran, and created a Persian language website allowing payments to be made in the local Iranian currency. “Our objective is to be one of the top three Arabic online travel agencies in the region by 2017,” said Amuda Goueli (pictured), CEO […]

Iran to Seek Bids on 15 Mining Deals

Iran is to seek bids for 15 mining projects for international investors to develop, according to Bloomberg. Mehdi Karbasian (pictured), the deputy minister of Industries, Mines and Trade, said in an interview in Tehran that President Hassan Rouhani plans to visit France and Italy in November to sign development agreements on some of the projects. […]

Japan Tobacco buys Iranian Cigarette Maker

Japan Tobacco International (JTI) has reportedly bought an Iranian cigarette maker in an attempt to reinforce its position as the market leader in a country prior to the expected relaxation of sanctions. The Financial Times reports that JTI Pars, its Iranian subsidiary, recently acquired the privately owned Arian Tobacco Industry (ATI) for an undisclosed amount. […]

Video: Iran Nuclear Deal Enters New Phase

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. The nuclear agreement between Iran and world powers reached in July has come into effect. Tehran will begin what’s being called the biggest nuclear dismantlement in history. Its compliance with the deal will […]

Iran Preparing for ‘Tsunami’ of Tourists

Iran’s vice president Masoud Soltanifar has told The Associated Press that his country is preparing for a “tsunami” of foreign tourists as Iran begins implementing the deal that will lift sanctions in return for curbs on Iran’s nuclear program. Soltanifar, who is also Iran’s Cultural Heritage, Handicrafts and Tourism Organization chief, said President Hassan Rouhani’s […]

French Insurers Eager to Invest in Iran

Chairman of the Board of French insurance group NASCO met and talked with the President of Iran Central Insurance and announced the company’s readiness to cooperate with Iranian insurance companies. During the meeting, Mohamed Ibrahim Amin offered his solutions for attracting foreign investment in the Iranian insurance companies. Gabriel Bejjani, Chairman of the Board of […]

UN Concerned by Rising Number of Executions in Iran

Expressing his “deep sadness” at the recent execution by Iran of two juvenile offenders, United Nations Secretary-General Ban Ki-moon today noted with concern the alarming increase in executions in the country over the last decade. “Over 700 executions are reported to have taken place so far this year, including at least 40 public, marking the […]

Prague ready to Invest in Infrastructure Projects

The Charge d’Affaires of the Czech Republic to Iran, Peter Stephen, has said that Czech investors and companies are ready to undertake development and infrastructural projects in the Islamic Republic. Speaking to officials in Alborz Province, Stephen said the lifting of economic sanctions against Iran will bring more Czech companies to the country. The Czech […]

Japanese Firms want Increased Ties with Iran

The Japanese Foreign Minister Fumio Kishida (pictured) has said that there are an increasing number of Japanese companies which want to resume cooperation with Iran’s oil firms in the post-sanction era. “Today, we exchanged views on expansion of economic ties,” he told Shana following a meeting with Iranian Petroleum Minister Bijan Zangeneh during which they […]

NPC, Mitsubishi Discuss Petchem Ventures

Iran’s Deputy Petroleum Minister for Petrochemical Industry Abbas Shari-Moqaddam [Abbas Shari Moghadam], and the Senior Executive Vice President of Mitsubishi Corporation’s Chemical Group, Takahisa Miyauchi, exchanged views on the possibility of the Japanese firm’s participation in Iran’s projects. The CEO of the National Petrochemical Company (NPC) welcomed Mitsubishi’s interest in presence in Iran and said […]

Petroleum Minister Underlines Anti-Corruption Drive

The Minister of Petroleum, Bijan Zangeneh, has called for the fight against financial corruption across the country urging the ministry’s staff to be careful to provide an honest service. “Due to large amounts of monetary transactions in the oil industry, there is the possibility of corruption. The money in the oil belongs to the public […]

British, Swedish Firms Shortlisted to Insure Iranian Tankers

The Director of Commerce of the National Iranian Tanker Company (NITC) has said that two major British and Swedish insurance companies have been selected to provide coverage for Iranian vessels. “Following the international political opening, numerous number of qualified international firms have approached NITC negotiating terms of insurance policies,” Nasrollah Sardashti told Shana. They are […]