Tag Archives | DJ

Dentons advises Quercus on €500m Solar Energy Deal

Dentons Europe LLP has advised Quercus, one of the world’s largest renewable energy investors, on a deal worth more than €500 million with Iran’s Ministry of Energy for the development, construction and operation of a 600 MW solar energy photovoltaic (PV) plant in Iran. This is Quercus’ first investment outside of Europe and represents the […]

Iranians rail against Apple, Google over pulling of Apps

By Holly Dagres, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Imagine trying to hail an Uber on a street corner only for the Uber app on your iPhone to suddenly stop working. That’s what happened to some Iranians when Apple pulled Snapp, a popular […]

Iran Signs €500m Deal with Danske Bank

By John Lee. Danske Bank has signed a €500-million finance deal with a group of Iranian banks. Under the agreement, the Danish bank will allocate resources to finance construction and production projects of the private and public sector in Iran. The Iranian banks involved include: Bank Mellat, Bank Pasargad, Bank Sepah, Parsian Bank, Saman Bank, […]

French Law Firm sets up Tehran Office

By John Lee. French law firm Gide Loyrette Nouel has announced the inauguration of its new office in Tehran. In a statement, the company said: “In line with its pioneering spirit, Gide becomes the first international law firm to obtain a licence in order to open a branch office and practise in Iran under its […]

Norwegian Firm in Talks to Build Solar Power Plants in Iran

The CEO of Norway’s Scatec Solar said the company is in negotiations to build its first solar power plants in Iran. “I wouldn’t like to say by when we (Tehran and Oslo) expect a signed deal but we are actively working on it,” Raymond Carlsen told Reuters on Friday. He added that the initial project […]

Due Diligence in Iran “Can Trigger Sanctions Violations”

The recent settlement agreed between the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and IPSA International Services of Phoenix, Arizona, highlights the risk that companies face when engaging third-party consultants to perform due diligence on counterparties in Iran. So says a paper from Washington-based legal and lobbying firm Akin Gump Strauss Hauer […]

Korean Firm signs Deal with Iranian Pharma

Korea’s Dong-A ST has reeportedly reached a technology transfer agreement with Iranian pharmaceutical firm Rooyan Darou. Under the agreement, Dong-A ST will immediately share its production technology of two therapies — growth hormone injection Growtropin and leukopenia therapy Leucostim — with the Tehran-based company. Rooyan Darou will also be granted a license to make and […]

Iran to Hold Exhibition in Istanbul in October

An exhibition of Iranian products and goods is planned to be staged in the Turkish city of Istanbul in late October, according to the Iranian Embassy in Turkey. The Iran Solo Exhibition will open on October 25 and last until October 28, the commercial attaché of the embassy, Hamid Zadboum announced. It will be launched […]

MTN’s IIG Expands 40-fold

By John Lee. South African telco MTN has given an update on its operations in Iran. In its financial results for the year ended 31 December 2016, the company said its MTN Irancell benefited from the country’s youthful demographics and higher smartphone penetration. Irancell is 51-percent owned by the state-owned Iran Electronic Industries. Iran Internet […]

Bureau Veritas to Inspect Iranian Automotive Industry

By John Lee. The National Accreditation Centre of Iran (NACI) has reportedly approved France’s Bureau Veritas to inspect the quality of cars, agricultural machinery and mining trucks produced in Iran. According to IntelliNews, Bureau Veritas re-established its Iran office in 2017. (Source: IntelliNews)

UK Fashion Group targets Iran

By John Lee. Fashion retailer Quiz Group says it is planning to open further concessions in “Cyprus and the Middle East (such as in Iran) with existing partners and further concessions with new partners in the short term.” The Scottish-based company has successfully completed a £102.7 million placing, and is intending to apply for the admission […]

easyHotel to deliver 500+ new Hotel Rooms in Iran

By John Lee. UK-based easyHotel, the owner, developer and operator of “super budget” branded hotels, has announced that it has signed a Master Development Agreement with 3SV Limited to develop the easyHotel brand across multiple sites in Iran. The Iranian Tourism industry has seen significant growth in recent years with the Government outlining ambitious plans […]

South Korean Retailer to Open in Iran

By John Lee. BGF Retail, the operator of South Korea’s largest convenience store chain CU, has reportedly signed a franchise deal with an Iranian company. According to Yonhap, the deal with home appliances firm Entekhab Investment Development Group is the first overseas expansion for the Korean company. (Sources: Yonhap, PressTV)

Iran Exports First Catamaran Ship to Turkey

Iran has sold its first domestically-made catamaran ship to neighboring Turkey, the managing director of the Arvandan Shipbuilding Company, the manufacturer of the vessel, announced. Speaking to reporters at a press conference on Thursday, Hossein Qorbani underlined that one of the features of the Iranian-made catamaran is that it is able to sail into shallow […]

Qeshm Airlines Adds European Routes

By John Lee. Iran’s Qeshm Airlines has commenced direct flights between Tehran and Brussels. Starting on Tuesday 27th June, the airline will fly every Tuesday, landing at Brussels Airport at 9:10 am and departing for Iran 2 hours later. The route will be served by a 132 seat Airbus A319. From 14th July, the airline is […]

New Generation of Iranian Hostels attract Younger Tourists

By Maysam Bizaer for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Tourism has been among the main sectors of the Iranian economy that immediately witnessed steady growth after the lifting of international sanctions last year as part of the 2015 nuclear deal. With the rise in […]

French Firm Positive about Prospects in Iran

An official at the French industrial conglomerate Groupe NOX said Iran’s nuclear deal with world powers which took effect last year has improved the prospects for financial and trade ties between Iranian and French companies, particularly in the oil and gas sector. Bernard Fages, Groupe NOX regional country manager made the statement on the sidelines […]

Germany’s Lewa Back in Iran Oil, Gas Sectors

Lewa, a worldwide leading manufacturer of industrial equipment, is resuming its activities in Iran in the wake of removed oil and gas sanctions. Speaking to Shana, Joachim Bund, head of Lewa’s sales division, said his company has been serving goods for decades in Iran and installs pumps in projects in all offshore, upstream, petrochemical, downstream […]

Rotana to Open 1st Hotel in Iran ‘Soon’

The head of Rotana hotels group, based in Abu Dhabi, said it plans to open its first hotel in Iran in less than a year. “We have signed hotels in Tehran, Mashhad and Isfahan. We expect to open our first hotel in Mashhad, a shrine city, by the first quarter of next year,” Rotana’s President […]

UK Banks “Close Accounts” of Iranian Customers

By John Lee. UK-based Blackstone Solicitors is reportedly handling more than 60 complaints by Iranian nationals who have had their bank accounts closed, allegedly because of their nationality. Some banks refuse to explain why they closed the accounts, while others cite sanctions against Iran as the main reason. The head of the firms Iran desk […]