Tag Archives | featured

Video: Iran Reveals Underground Missile Bunkers

From PressTV. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. This is the first time Iranian media are allowed there. Military officials say the tunnels are dug some 500 meters into high mountains. The Commander of Aerospace Force of Iran’s Islamic Revolution Guards Corps […]

Jet Engine Falls Off during Iran Flight

By John Lee. AFP reports that a Boeing 747 operated by Iran’s Mahan Air lost an engine shortly after takeoff from Tehran on Thursday. The flight, with 300 passengers on board, was destined for Bandar Abbas in southern Iran when one of its engines crashed into a nearby field, forcing the jumbo to return and […]

Iran to Launch over 50 New Oil Projects

Iran says it plans to introduce more than 50 new oil projects to international investors in what will be a key part of the country’s plans to boost oil production in an emerging post-sanctions era. Seyed Mehdi Hosseini, head of Iran’s Oil Contracts Restructuring Committee, has emphasized that the projects will comprise exploration and production […]

Kuwait may Import Gas from Iran

By John Lee. The Chief Executive of the Kuwait Petroleum Corporation (KPC) has said that his company has conducted negotiations with both Iran and Iraq to import gas. Nizar Al-Adsani (pictured) said in a statement: “Kuwait is in need of gas for power plants … [but] up until now we have not agreed on the […]

World’s Biggest Tour Firm Eyes Iran

By John Lee. Germany’s TUI Group, the world’s largest leisure, travel and tourism company, is reported to be considering investment in Iran. The minister of economic affairs, labor and transport for the federal state of Lower Saxony in Germany, Olaf Lies, told PressTV that preliminary negotiations have been held for the multinational tour operator to […]

Thailand to Assemble Toyotas for Iran

Toyota has announced that it will begin shipping cars to Iran from its assembly facilities in Thailand. Local press reports say that the Japanese auto maker will begin exporting fully-built vehicles to Iran in the coming weeks. It has not been announced which vehicles will be shipped from Thailand. (Source: Financial Tribune)

Iranian Parliament backs Nuclear Deal

Iran’s parliament has approved the deal on its nuclear programme. The official IRNA news agency said the deal was passed with 161 votes in favour, 59 against and 13 abstentions. However, parliament insisted that international inspectors would have only limited access to military sites. The Joint Comprehensive Plan of Action (JCPOA), finalised in July after […]

Extra Drilling Rigs to Boost South Azadegan

Twelve more drilling rigs will be added to the existing giant towers in the South Pars oil field in southern Iran upon signing of contracts with domestic and foreign firms, said an official in the Petroleum Engineering and Development Company (PEDEC). “The equipment will be installed by yearend. In the meantime, we expect activities to […]

British, Japanese Insurers visit Iran

The Chairman and CEO of the Iran Insurance Company has hosted representatives of the British United Insurance Brokers (UIB) and Japanese insurer, Sompo. The purpose of the meeting was to increase the level of interaction in the post-sanctions era, to develop reinsurance, to provide reinsurance coverage requirements, and to improve the coverage especially in property […]

FlyBaghdad Starts Iran Flights

By John Lee. Iraq’s youngest airline, FlyBaghdad, is to start flying between Iraq and Iran, according to a report from Gulf News. The airline’s Regional Commercial Manager, Mohammad Abdali, told the news agency that the Iraqi-owned airline will start flights from Baghdad International Airport to Tehran, Isfahan and Mashhad on October 16. He added that […]

Shell Delegation in Iran for Oil Talks

A delegation from global energy giant Royal Dutch Shell is visiting Iran for talks with the country’s oil officials. The delegation, which arrived in capital Tehran on Friday , will stay in Iran for four days, the local media reported. They are also scheduled to have separate meetings with Iran’s key banks, the Iran-UK Chamber […]

Private Sector Cash to Pump Iranian Gas to Iraq

The pipeline to carry gas to Iran’s western and northwestern regions as well as exporting it to neighboring Iraq will start soon with BOT (Build-Operate-Transfer) financing from Bank Pasargad, the bank’s CEO has said. “We have increased our investment for the development of oil, gas, refining, and petrochemical industries. The contract to finance the Iraq […]

Iran LPG Volume Up 70%

Gas refining companies affiliated to the National Iranian Gas Company (NIGC) produced more than 1.337 million metric tons of LPG in the first half of the current year (March 21-September 22), marking a record 70 percent increase compared to the corresponding period last year. “Gas output was also up by 4 percent with a total […]

Iran Insures Foreign Investors Against Non-Economic Risks

The President of the Organization for Investment, Economic and Technical Assistance of Iran says that any foreign investor wishing to enter the country will be fully insured against all non-economic risks by the government of the Islamic Republic of Iran. At the first international conference on Investment Opportunities in Transportation, Housing and Urban Development, Mohammad […]

Ministers Secretly Warn PM on Economy, but Why?

By Arash Karami, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Four ministers from the administration wrote a letter to President Hassan Rouhani (pictured) warning him that Iran’s economic situation could turn into a “condition of crisis” that would take many years to recover from. […]

Iran to Supply Water Treatment Materials to Iraq

By John Lee. Iraq‘s Ministry of Construction and Housing and Public Municipalities is reported to be about to sign a contract worth 10 billion Iraqi dinars ($8.6 million; 260 billion Iranian rials) with an Iranian company to buy chlorine and alum for water purification. Tariq al-Kikhany said that in view of the cholera epidemic that […]

What Rouhani’s done to Fight Corruption

By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. There has been a lot of talk in Iran about fighting administrative and financial corruption over the past decade. Yet, corruption has not diminished. Rather, the phenomenon has continued to plague the Iranian economy. […]

Iran Khodro Exports Break Records

By John Lee. Iranian vehicle maker Iran Khodro (IKCO) has exported over 6,000 vehicles to the international markets in the first half of the current Persian calendar year surpassing the car manufacturer’s export record throughout last year. IKCO ‘s Deputy for Export and International Department, Saeed Tafazzoli said IKCO’s main foreign site is located in […]

UK FM Hopes to Lead Trade Delegation to Iran

Britain’s Finance Minister George Osborne will lead a trade delegation to Iran next year if the Islamic Republic honours a nuclear deal with world powers, the Financial Times reported. “Assuming that Iran honors the nuclear deal, and it’s properly verified, I think there will be growing potential to do business with Iran,” the FT quoted […]

Iran, Iraq Foreign Ministers Meet

On the sideline of the UN General Assembly meetings, Iraqi foreign affairs minister Dr. Al-Jaafari met his Iranian counterpart, Mr. Mohammed Javad Zarif. During the meeting, they discussed the bilateral relations and horizons to promote them in the interest of the two neighbouring countries; in addition to, discussing the political and security situations in the […]

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