Tag Archives | DJ

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 […]

Russian Company to Survey Iranian Caspian

By John Lee. Russia’s Geology Without Limits (GWL), in conjunction with the Geological Survey of Iran (GSI) and Ministry of Mine, Industry and Trade (MMIT), plana to acquire 4 800 km of 2D seismic, gravity and magnetic data in the Iranian sector of the Caspian Sea. The survey will be completed in Q3-Q4 2017 and […]

Swedish Govt Authorizes Firm to Invest in Iran through Bitcoins

The government of Sweden is reported to have authorized a local business to create a mechanism based on a globally popular virtual currency to transfer funds to Iran. The move is already believed to have the potential to facilitate investing in the Islamic Republic where transferring money in and out became complicated as a result […]

German Forwarders in Iran Venture

German-based M&M Militzer & Münch GmbH and Andreas Schmid Logistik AG have established a joint venture for international cargo transport. Starting May 1st, the joint venture under the name MMAS Eurasia Logistics GmbH will offer regular services to Iran and the Maghreb region. Dr. Lothar Thoma, CEO M&M Militzer & Münch International Holding AG, said: […]

Portugese Telecom Firm Enters Iran

Potugal-based Altice Labs has announced that it will provide GPON technology to equip apartment buildings in Tehran. In the first phase, a supply of a set of active station equipment (OLT) is planned, namely: 15 OLT1T0, 3 OLT1T3 and 3000 ONTs (terminal equipment) that will allow the interconnection of IP video gateways, including the possibility […]

Swedish Firm Accepts Deposits in Bitcoin for Iran Biz

Swedish Firm Accepts Deposits in Bitcoin to Facilitate Business with Iran A Swedish company has come up with an innovative solution which both bypasses US sanctions and does away with the need for banks to process transactions with Iran, a report said. Brave New World Investments AB is reportedly accepting deposits in bitcoin which it […]

Sinclair Pharma sees Strong Growth in Iran

By John Lee. International aesthetics company Sinclair Pharma has said it has seen strong growth in Iran, with another strong year expected in 2017. In its preliminary results announcement, the UK-based company said: “Revenues to Iran increased strongly in 2016 and with our partner in Iran now responsible for the full Sinclair portfolio, further growth is […]

Payment App wins FinTech Award

By John Lee. A payment application for foreign tourists has reportedly won Bank Pasargad’s award for best fintech innovation at the First Fintech Festival. ZPay allows visitors to shop in Iran while keeping their money outside the country. (Source: CryptoCoinsNews)

Indigo Holdings buys into Iranian Online Classifieds Marketplace

Indigo Holdings plc (NEX: INGO), the Middle East focused Investment Company that provides investors with exposure to early stage businesses, has invested €375,587 (approximately £320,000) in Net Tejarat Ahoura Company (“Net Tejarat), which owns 100% of the issued share capital of Sheypoor, a leading Iranian online classifieds marketplace. Indigo has acquired a 1.09% stake in […]

MTN Irancell Invests in IIG

The Iran Internet Group (IIG), the leading internet group in Iran with several million unique and paid transactions every month, just announced the closing of a funding round led by MTN Irancell. The group, whose ventures include the by far market-leading car hailing platform Snapp, has secured the funding in a move that will further […]