Tag Archives | Sweden

Volvo Halts Iran Truck Assembly under US Pressure

Swedish truckmaker AB Volvo has stopped assembling trucks in Iran because US sanctions are preventing it from being paid, a spokesman for the company said on Monday. Volvo spokesman Fredrik Ivarsson said the trucks group could no longer get paid for any parts it shipped and had therefore decided not to operate in Iran. “With […]

Scania ‘Working to Deliver Parts to Iran after Sanctions’

Scania’s entire sales into Iran could be lost if the United States reinstates sanctions against the country, the Swedish truckmaker’s head warned on Friday. CEO Henrik Henriksson said Scania, which was one of the first truck companies to return to Iran after anti-Tehran sanctions were lifted in early 2016, had canceled all orders that it […]

Finland, Denmark, Sweden agree deal with Iran’s IDRO

The ambassador of Finland to Tehran said Helsinki, Copenhagen and Stockholm have signed an agreement with Iran’s IDRO Group to improve cooperation in various fields, including oil and renewable energies. “Finland, Denmark and Sweden signed an MoU with IDRO of Iran to promote collaboration in in the fields of oil & gas, high-tech, transportation, renewable […]

Swedish Bio-Pharma Firm confirms Iran Order

By John Lee. Swedish biopharmaceutical company Xbrane has confirmed an additional order of Spherotide from Pooyesh Darou, its partner in the Middle East, to a value of SEK 8.5 million ($1.1 million) to be delivered in Q4 2017. With this delivery Xbrane will meet its expected sales during 2017 of approximately SEK 20 million, as […]

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 […]

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 […]

Why Iran’s Auto Ambitions will Benefit Economy, not Consumers

By Alireza Ramezani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. In February, Iran hosted an international auto show for the first time in 11 years. Some two dozen European, Asian and Iranian brands, including Iran’s longtime French partners Renault and Peugeot, took part in the […]

Iran Eyes Joint Investment with Sweden

Iranian President Hassan Rouhani voiced the country’s willingness to make joint products with Sweden for exports to regional and international markets. As a regional hub of industry and diverse technologies, Iran is ready for joint investment with Sweden to manufacture joint products for exports, President Rouhani said at a meeting of high-ranking delegations from Iran […]

Scania Wins Iran Public Transport Contract

Sweden’s Scania has signed an agreement in principle with the Iranian province of Isfahan and the investment company Shahr-e Atiyeh for the delivery of 1,350 buses for public transport in Isfahan and four other Iranian cities. The first buses will go into service at the end of the year. Two memoranda of understanding were signed […]

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 Stops Producing 11 Truck Models

During the Iranian calendar month to 21st December, the production of 11 heavy duty vehicles and pickup trucks in Iran has been stopped. Iran Khodro Diesel (IKD), a subsidiary of Iran’s largest car manufacturer, stopped production of two heavy duty vehicles — the Mercedes-Benz tipper truck LK 2624 and Mercedes-Benz Axor K3335 — and the recently-introduced […]

Italian, Swedish Companies to Resume Activity in Iran

Senior directors of Italian and Swedish companies involved in manufacture of oil and gas pipelines consider Iranian market positive for resumption of activity. Alessandro D’angelo, Middle East & North Africa Regional Sales Manager of Italian Tenaris Company told Shana on the sidelines of the seminar of the manufacturers of oil and gas industry pipelines in […]

How Iran’s Auto Industry became a Political Football

By Alireza Ramezani, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iranian hard-liners have launched a new attack on the administration of President Hassan Rouhani, this time focusing on the country’s automotive industry. At an Oct. 25 parliamentary hearing, the Industries and Mines Committee grilled […]

Sweden Eager to Invest in Iran’s ICT Sector

Swedish Minister of Housing and Digital Development Peter Eriksson expressed his country’s enthusiasm for more active presence in Iran’s information and communications technology (ICT) market in the post-sanctions era. In a meeting with Iran’s Minister of Communications and Information Technology Mahmoud Vaezi in Stockholm on Thursday, Eriksson voiced support for Swedish investment in various fields […]

Scania sees Strong Demand in Iran

By John Lee. Scania, the Swedish manufacturer of commercial vehicles, has reported that in its buses and coaches division, the demand trend is positive, mainly due to strong order bookings in Mexico and Iran. (Source: Scania)

Russian Billionaire Invests in Iran

Billionaire entrepreneur Vladimir Potanin has become the first Russian investor to buy stakes in a number of Iranian companies after the removal of anti-Tehran sanctions, a report said. Potanin through his Winter Capital Partners fund became a shareholder in a number of Iranian internet companies, including the country’s biggest web retailer – Digikala, RT reported […]

Swedish Firm to Launch IPO for Investment in Iran

A senior official with a Swedish firm said the company plans to launch an Initial Public Offering (IPO) to raise finance for investment in Iran. Pomegranate Investment AB is looking to launch the first IPO to raise capital for investment in Iran, Florian Hellmich, the chief executive of the firm, said as cited by Reuters […]

Over 200 Foreign Investors Active in Iran Capital Market

The number of foreign shareholders in the capital market of Iran is now more than 200, the Managing Director of the Central Securities Depository of Iran (CSDI) has said. Last month 9 natural shareholders from Romania, Russia, South Africa, Italy, Britain (2 people), Kuwait, Pakistan, and Afghanistan received their codes to be active in the […]

Sweden to Invest in Energy, Transport, Communications

By John Lee. At a meeting with Mikael Damberg, Sweden’s Minister for Enterprise and Innovation, Mohammad Khazaei Deputy Minister of Economy and President of the Organization for Investment, Economic and Technical Assistance of Iran, proposed cooperation in the sectors of energy, transport and communications. Khazaei explained the macroeconomic performance of the country and said that […]

BASF Ready to Invest in Iran Petchem Projects

Major European chemical manufacturing companies including Germany’s BASF are ready to transfer technology and invest in Iran’s petrochemical industry, first deputy managing director of National Petrochemical Company (NPC) said. Mohammad Hassan Peyvandi told participants at the Petchem Investment Panel of an international financial conference in Kish Island on Tuesday that a secured Iran tops foreign […]