Tag Archives | featured

Korean SMEs “Go Bankrupt” Due to Sanctions on Iran

The chairman of Iran-South Korea Joint Chamber of Commerce said following last year’s move by the US to renew sanctions against the Islamic Republic, some Korean companies went bankrupt. Speaking to Tasnim, Hossein Tanhayee pointed to the 70 percent fall in bilateral trade between Iran and South Korea after the re-imposition of the US sanctions […]

Possible Iraq-Iran-Syria Rail Line

By John Lee. Iraq, Iran and Syria are reportedly planning to build a railway connecting the three countries. According to media reports, Salib al-Hussaini, the head of the Iraqi Railway Company, has announced a tripartite summit to discuss the project. (Source: Prensa Latina) (Picture credit: Christian Lindgren)

Iran, Iraq to Set Up 5 Joint Industrial Parks

The Iranian president’s chief of staff said Tehran and Baghdad have agreed to establish five joint industrial parks, including one in Iran’s border province of Kurdistan. Speaking at a meeting on economic development of Kurdistan in the city of Sanandaj on Saturday, Mahmoud Vaezi said Iran and Iraq have devised plans to set up five […]

Iran Plan for Air Defense Cooperation with Iraq

Iran’s Top General Unveils Plan for Air Defense Cooperation with Iraq Chief of Staff of the Iranian Armed Forces Major General Mohammad Hossein Baqeri said Tehran and Baghdad have agreed to launch air defense cooperation to combat possible threats to Iran’s western border. Briefing reporters on the results of a meeting with his Iraqi counterpart […]

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Iran, Pakistan Moving Closer to Free Trade Deal

Iran and Pakistan are expected to finalize the draft of a free trade agreement (FTA) in forthcoming talks in Islamabad. A final draft of the free trade deal between Iran and Pakistan is expected to be hammered out in negotiations due to be held in Islamabad on April 22 and 23, the International News reported. […]

Iraq gives Iranians Visas Free of Charge

Iraq has begun issuing entry visa for Iranians free of charge in a reciprocal move under a deal. Iranians travelling to Iraq can now obtain visa free of charge. The Iraqi cabinet of ministers said the decision that took effect on April 1 has been made as a reciprocal move which had been agreed upon […]

Iran “ready to Expand Gas, Power Trade with Iraq”

President Hassan Rouhani has called for Iran and neighbouring Iraq to expand their gas and electricity dealings and boost bilateral trade to $20 billion, state TV reported, despite difficulties caused by US sanctions against Tehran. “The plans to export electricity and gas and hopefully oil continue and we are ready to expand these contacts not […]

Zangeneh Appoints Deputy for Research, Technology

Iranian Minister of Petroleum Bijan Zangeneh issued a decree appointing Saeid Mohammad Zadeh as his deputy for engineering, research and technology affairs, replacing Habibollah Bitaraf. By entrusting Mr. Mohammad Zadeh with the post, Mr. Zangeneh delegated a number of tasks to his new research deputy including developing technological relations with universities and research centers in […]

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Blockchain Startup could Transform Traffic in Iran

By Maziar Motamedi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. How this Blockchain Startup could help people Transform Traffic in Iran As the transportation industry continues to grow around the globe, traffic congestion remains as one of the most significant, largely unresolved issues of […]

US labels IRGC as Terrorists

Today, the US Secretary of State Mike Pompeo (pictured) has announced his intent to designate the Islamic Revolutionary Guard Corps (IRGC), including its Qods Force, as a Foreign Terrorist Organization (FTO) under section 219 of the Immigration and Nationality Act. This designation is a historic step to counter Iran-backed terrorism around the world. The IRGC […]

Nokia may Reduce its Iran Business

By John Lee. Finnish telecom equipment maker Nokia has said it may have to reduce its business in Iran due to the reimposition of US sanctions. In a statement to the markets, the company said: “We continuously monitor international developments and assess the appropriateness of our presence and business in various markets. “The US’ unilateral […]

Will Iraq lose Shatt al-Arab to Iran?

By Omar al-Jaffal for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Will Iraq lose its benefits from Shatt al-Arab River to Iran? Iranian President Hassan Rouhani visited Baghdad March 11 to endorse the two countries’ renewed commitment to the 1975 Algiers Agreement regarding the shared border […]

Iraq “Needs to Buy Iranian Electricity for 3 Yrs”

Iraqi Parliament Speaker Mohammed al-Halbusi said he hopes the United States will keep waiving sanctions on energy imports from neighboring Iran, noting that the Arab country will need to purchase electricity from the Islamic Republic for three years. In November last year, Washington granted a 45-day waiver on electricity to the Arab country and extended […]

Iran GDP Shrinking

By John Lee. A new report from the World Bank Group forecasts real GDP growth (at constant market prices) of -1.6 percent for the year to the end of March 2019 in Iran, falling further to -3.8 percent next year: Economic growth in Iran continued to slowdown in the first quarter of 2018/19 (April-June) as […]

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Floods: Evacuation of 70 Villages

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. The Iranian government has ordered the evacuation of 70 villages threatened by flooding. A state of emergency has been declared in many southern provinces. Al Jazeera’s Raheela Mahomed reports:

New Career Opportunities in Iran

By John Lee. The United Nations has advertised new jobs in Iran: Adviser (Trafficking in Persons and Smuggling of Migrants), UNODC – Office on Drugs and Crime GIS and Remote Sensing, FAO – Food and Agriculture Organization of the United Nations LFS Project Manager, Norwegian Refugee Council (NRC) Monitoring & Evaluation Assistant , Norwegian Refugee Council […]

US Disrupts IRGC Front Company Network

United States Disrupts Large Scale Front Company Network Transferring Hundreds of Millions of Dollars and Euros to the IRGC and Iran’s Ministry of Defense Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action against 25 individuals and entities, including a network of Iran, UAE, and Turkey-based front companies, that have transferred over a billion dollars and euros to the Islamic […]

New Sanctions on Entities linked to Iran Nuclear Weapons Effort

U.S. Government Sanctions Organizations and Individuals in Connection with an Iranian Defense Entity Linked to Iran’s Previous Nuclear Weapons Effort The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), together with the U.S. Department of State, designated 14 individuals and 17 entities today in connection with Iran’s Organization of Defensive Innovation and […]

PEDEC Outlines Priorities

The CEO of Petroleum Engineering and Development Company (PEDEC) outlined the company’s priorities in the new Iranian calendar year which starts on March 21. According to PEDEC, Touraj Dehghani said accelerating the development of joint oil fields was top on PEDEC’s agenda in the new Iranian year. He said: “This year, given the special conditions […]

South Pars Gas Output to Hit 750 mcm by Late 2019

Iranian Minister of Petroleum Bijan Zangeneh said the country’s gas production capacity from the supergiant South Pars gas field would cross 750 million cubic meters per day by late 2019. Addressing a ceremony to officially launch phases 13 and 22-24 of the major joint gas field, that was held in the presence of the Iranian […]