Tag Archives | DJ

Meliá Hotels Announces New 5-Star Hotel in Iran

Meliá Hotels International has announced its entry into the Iranian market with the first five-star branded hotel to be managed by an international hotel company. The Gran Melia Ghoo Hotel, located in the largest mixed residential, commercial and hotel complex to be developed in Iran, currently being built in Salman Shahr, a popular holiday destination […]

Iran, Singapore eye Joint Tanker Line

By John Lee. The Islamic Republic of Iran Shipping Lines (IRISL) has signed a major cooperation agreement with Singapore’s Pacific International Lines (PIL), which could to lead to the development of a major tanker service for shipping oil products and petrochemicals from East Asia to as far as West Africa. IRISL chief Mohammad Saeidi (pictured) […]

Alitalia to Resume Daily Flights to Tehran

By John Lee. Italy’s Alitalia has reportedly decided to re-launch daily direct flights to Tehran. The firm said the flights will start from 27th March, according to a report from IRNA. (Source: IRNA)

Bank Muscat to open Office in Iran

By John Lee. Bank Muscat has issued a statement saying that it is in the process of establishing a representative office in Iran. “We will ensure full compliance with all local and international regulatory requirements. We will inform the market once all regulatory approvals are in place,” the bank said. According to Reuters, the announcement […]

Petrofac to Reopen Iran Office

By John Lee. Oil services company Petrofac is to reopen its Tehran office. Chief Executive Ayman Asfari said the company was probably going to bid for oil services contracts though large oil companies once they have won new business. This means the amount of work it does in Iran would remain low in the next […]

Visa Issues Scupper Key Iran Banking Event

By John Lee. Visa problems have forced the postponement of a major conference on Iranian banking due to be held in London next month. A statement from the organisers, Euromoney, said that they hope to reschedule for 11th May, also in London. The plans were changed after Iranian delegates were unable to secure visas to […]

GE Explores Opportunities in Iran

By John Lee. The Wall Street Journal reports that the chief executive of General Electric‘s oil and gas business, Lorenzo Simonelli (pictured), has visited Iran to explore business opportunities in the country. A spokeswoman for GE Oil & Gas said: “In line with the easing of sanctions, we have begun looking at potential business opportunities in […]

Swiss Firm Ready for Petchem Tech Transfer

By John Lee. A delegation from the Swiss company Sulzer has said it is ready to cooperate with Iran in transferring technology to Iran’s petrochemical complexes as well as in licensing of Iranian companies. Company representative Thorsen Winter Greze said the firm has established ties with two Iranian petrochemical companies following removal of sanctions. The […]

Lingering Sanctions ‘Negatively Impact Risk Appetite’

By John Lee. A report from law firm Clyde & Co suggests that the insurance industry is still feeling cautious about doing business in Iran because of lingering US sanctions. It said that 85 percent cent of respondents at London-based insurance companies said US sanctions “negatively impact their risk appetite for Iran-related business”. Chris Hill […]

UK Firm Wins Smart Metering Order in Iran

Cyan (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control, announces receipt of an initial purchase order from telecommunications contractor Micromodje for a 2,000 unit smart metering implementation, which will be fitted into street traffic cameras in the Islamic Republic of Iran. This initial […]

British Airways Resumes Tehran Flights

British Airways has announced that it is resuming flights between London and Tehran. The route will launch as a six-per-week service before moving to daily flights from winter 2016. The service from Heathrow Terminal 5 will be operated by a four-class Boeing 777. Neil Cottrell, British Airways’ head of network planning, said: “Iran is a […]

First Major Int’l Law Firm Opens Tehran Office

CMS Germany has become the first major international law firm to open a dedicated office in the Iranian capital, Tehran, the company announced on Tuesday. This includes the right to provide legal advice in Iran. Following successful completion of detailed preparations, the CMS office and staff in Tehran opened for business on 1 February. Cornelius […]

Griffon Capital launches $108m Iran Fund

By John Lee. Tehran-based Griffon Capital has launched an offshore, Iran-focused equity fund and is seeking to raise 100 million euros ($108.28 million) from European investors by year-end, according to a report from ArabianBusiness. The new Griffon Iran Flagship Fund is to be domiciled in the Cayman Islands, managed by Griffon Asset Management, and focused […]

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 […]

Germany’s Plastics Industry targets Iran

Ten years ago, half of the imported plastics and rubber machines sold in Iran came from Germany, reports Plastics News. Today, after years of sanctions, it’s virtually zero, but Germany’s machinery industry is very interested in returning. Plastics machines weren’t covered under the sanctions, but with Iran excluded from global financial systems it was increasingly […]