Tag Archives | Singapore

Iran Falls in Ease of Doing Business Index

By John Lee. Iran has been ranked 128th out of 190 countries in the World Bank‘s recent Doing Business 2019 report, down from 124th place the previous year. Top of the list were New Zealand, Singapore and Denmark, with last place going to Somalia, just behind Eritrea and Venezuela. Libya ranked 186th, with Iraq 171st. Doing […]

Singaporean Firm wins $98m Iran Desalination Deal

Singapore-based Hyflux Ltd has announced that its wholly owned subsidiary, Hyflux International Pte Ltd, has been awarded a contract by Asia Water Development Engineering Company (AWDEC) to design, manufacture and supply a seawater reverse osmosis desalination package in Bandar Abbas, Iran. The project excludes local marine, civil and structural works, and is valued at approximately […]

Iran Falls in Ease of Doing Business Index

By John Lee. Iran has been ranked 124th out of 190 countries in the World Bank‘s recent Doing Business 2018 report, down from 120th place the previous year. Despite the fall in the rankings, the report notes that over the previous year Iran improved access to credit information by reporting data on credit payments from […]

Singapore Firm signs deal to Study Iran Oilfield

The National Iranian Oil Company (NIOC) and Singapore’s Berlanga signed a memorandum of understanding (MoU) for the latter to start studies on development of Iran’s Dalpari Oilfield. The deal was signed by Gholamreza Manouchehri, NIOC deputy managing director for development of engineering, and Shyngys Kulzhamov, director of Berlanga UK, in Tehran on Wednesday. West Oil […]

Iran eyes Closer Ties with Singapore

Iran’s president congratulated his new Singaporean counterpart on taking office, hoping for the expansion of relations with the Southeast Asian nation in all fields. In a message on Monday, President Hassan Rouhani congratulated Halimah Yacob on becoming the eighth president of the Republic of Singapore. Given the mutual political determination and the great potential for […]

Talks on Iran-EAEU Partnership in Final Phase

Russia’s First Deputy Prime Minister Igor Shuvalov said talks with Iran over its partnership with the Eurasian Economic Union (EAEU) are nearing an end. “We are in talks with Singapore and we are close to conclusion of negotiations with Iran,” Shuvalov said on Wednesday, the Tass news agency reported. Iran and the EAEU negotiated for […]

Singaporean Firm Fined for Violating Sanctions

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced a $415,350 settlement with COSL Singapore Ltd, headquartered in Singapore, to settle COSL Singapore’s potential civil liability for 55 apparent violations of the Iranian Transactions and Sanctions Regulations, 31 C.F.R. Part 560 (ITSR). Between on or about October 7, 2011 to […]

Firm Fined $12m for “Apparent Violations” of Sanctions

CSE TransTel Pte. Ltd. (“TransTel”), a wholly-owned subsidiary of the international technology group CSE Global Limited, both of which are located in Singapore, has agreed to pay $12,027,066 to settle its potential civil liability for 104 apparent violations of the International Emergency Economic Powers Act and the Iranian Transactions and Sanctions Regulations, 31 C.F.R. part […]

Talks on Iran’s EEU Membership to Conclude Soon

Timur Suleimenov, Kazakhstan’s minister of economy, said the Eurasian Economic Union (EEU) would finalize talks with Iran over the country’s membership to the union by the end of 2017. “We believe we can come up with something substantial by the end of the year . . . finished talks,” Suleimenov told the Financial Times on […]

Singaporean Minister discusses Trade and Banking in Iran

Senior Minister of State of Singapore Mohamad Maliki Osman has met Iranian foreign minister Javad Zarif in Tehran. Osman, state minister at Singapores foreign affairs and defense ministries discussed economic, trade, banking and investment cooperations with Zarif, according to the Iranian foreign ministry. They also discussed regional and international issues, including Syria and fighting terrorism […]

1st FPSO Vessel to Recover Oil from South Pars

1st FPSO Vessel in Iran’s Waters to Recover Oil from South Pars The first vessel of Floating Production, Storage and Offloading (FPSO) unit has entered Iran’s territorial waters to recover oil from the country’s giant South Pars gas field in south, the managing director of Petro Iran Development Company (PEDCO) said. “The $300-million FPSO unit […]

Iran near Bottom in “Passport Power”

By John Lee. Iran has been rated joint-tenth-from-the-bottom of the list in a ranking of the ‘passport power’ of 199 countries around the world. The list, compiled by passportindex.org, ranked passports by their ability to allow persons to travel visa-free to other destinations. Top of the list was Germany, followed by Sweden and Singapore, while […]

Iran, EAEU to Start Talks on Free Trade Zone

Formal talks on creation of a free trade zone (FTZ) between Iran and the Eurasian Economic Union (EAEU) will begin soon, the Armenian president said. “The presidents of four countries have approved the proposal that it is necessary to launch negotiating process (on creation of free trade zone) with Iran, Egypt, India and Singapore. That […]

Iran Ready to Boost Banking Ties with Singapore

The Governor of Central Bank of Iran (CBI), Valiollah Seif, who is on an official visit to Singapore, voiced the Islamic Republic’s readiness to boost banking cooperation with the Southeast Asian country. Speaking in a meeting with Managing Director of Monetary Authority of Singapore (MAS) Ravi Menon in Kuala Lumpur on Tuesday, Seif highlighted the […]

Growth to Reach 5% This Year, Next: CBI Chief

Governor of Central Bank of Iran (CBI) Valiollah Seif, who is on an official visit to Singapore, predicted that the economic growth of the country will reach five percent this year and the next year, calling on Asian companies to invest in the Islamic Republic. Speaking at a business seminar in Singapore on Wednesday, Seif […]

Trafigura to Boost Metals Trading with Iran

By John Lee. Commodity trader Trafigura has advertised for a Persian-speaking Business Development Analyst for its refined metals division, to work with its traders to “identify, analyse, assess and propose business opportunities in the Arabian Gulf, especially within the rapidly changing Iranian market.” The candidate will be expected to “undertake analysis of the Middle Eastern […]

Iran to Launch Regular Shipping Line to Japan

The Managing Director of the Islamic Republic of Iran Shipping Lines (IRISL), Mohammad Saeidi, said the country plans to establish a regular shipping line to Japan in the near future. Addressing a ceremony in Tehran, Saeidi pointed to the removal of sanctions in January, saying that during the sanctions era there was only one active […]

Singapore Firm Signs €400 MoU With Iran Marine Fund

The Board of Singapore’s Kim Heng Offshore & Marine Holdings Limited has announced that the Company’s wholly owned subsidiary, Kim Heng Marine & Oilfield Pte Ltd (KHMO) has entered into a non-binding memorandum of understanding (MoU) with the Iran Marine Fund (IMF) to explore opportunities in the marine and oil and gas areas, including: Shipbuilding […]

Iran’s FM Meets Singaporean PM, Speaker

Iranian Foreign Minister Mohammad Javad Zarif has held separate meetings with Singapore’s Prime Minister Lee Hsien Loong and Parliament Speaker Halimah Yacob in the Southeast Asian country’s capital. In his meeting with PM Lee, Zarif underlined the existing capacities in different economic fields for the expansion of Tehran-Singapore cooperation after the recent nuclear deal (known […]

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) […]