Tag Archives | Switzerland

Iran Seeking to Save Major Oil Deal with Vitol

The National Iranian Oil Company (NIOC) is in talks to salvage a $1 billion oil deal with Swiss trader Vitol Group as companies sever ties with the Islamic Republic ahead of US sanctions. Iran is fighting to keep one of its most profitable oil deals, according to people familiar with the matter, the Wall Street […]

Nestle to Remain in Iran despite US Sanctions

Nestle (NESN.S) sees no direct fallout from renewed US sanctions on Iran, the world’s biggest food company has said. “We continue to closely follow political developments regarding sanctions against Iran. There are no direct implications for our business at this stage,” it said in response to a query, Reuters reported. Nestle Iran has its headquarters […]

Oman, Switzerland Offer to Mediate between Iran, US

Iranian Foreign Minister Mohammad Javad Zarif confirmed that the country has received messages from Switzerland and Oman offering mediation between Tehran and Washington, but that no talks are currently underway between Iran and the US. “Of course, there are some messages from other countries to mediate (between Iran and the US),” Zarif said in an […]

Iran, Switzerland Ink Cooperation Deals

Iranian and Swiss officials on Tuesday signed three documents on cooperation between the two countries in scientific, medical, and transportation fields. Officials from the two countries signed the three documents after a meeting of high-ranking delegations in Bern, co-chaired by Iranian President Hassan Rouhani and his Swiss counterpart Alain Berset. The two sides signed two […]

Iran Rail signs Contract with Swiss Firm

Iran’s state-owned railroad company signed a contract with Swiss company Matisa for the maintenance and supply of railroad machines. According to the contract, Matisa, the Swiss manufacturer of track maintenance equipment that was established in 1945, will carry out the overhaul of two ballast machines in Iran. Apart from making repairs on nine other ballast […]

Iran, Switzerland hold New Round of Talks

Iran and Switzerland have held a fresh round of their bilateral political negotiations in Tehran. Given the Islamic Republic of Iran and the Swiss Confederations interest in the promotion of bilateral ties, the new round of comprehensive political talks was chaired by Iranian Deputy Foreign Minister for Political Affairs Abbas Araqchi and Head of the […]

Swiss Bank starts Wind-Down of Iran Business

By John Lee. Swiss-based Banque de Commerce et de Placements (BCP) has reportedly stopped all new transactions with Iran, following the US pullout from the nuclear deal. Reuters reports that the bank has started a ‘wind down period‘ within the framework of OFAC announcement. (Source: Jerusalem Post)

Tehran’s Quality of Living Ranking …

By John Lee. Tehran has been ranked in 200th place in Mercer’s 2018 Quality of Living Survey. This puts it just ahead of Luanda in Angola and Lahore in Pakistan, and just behind Douala in Cameroon and Dar es Salaam in Tanzania. Vienna again retains the top spot; Zurich and Auckland follow in second and […]

Swiss Firm Denies Major Infrastructure Deal with Iran

Switzerland’s Stadler Rail denied reports that it signed a $1.4 billion infrastructure contract with Iran for 960 wagons for an underground railway system. In a statement on Friday, Stadler Rail said there was no deal or decision between Tehran and Bern but merely a public tender, Swissinfo website reported. This is while the Swiss embassy […]

Autoneum enters Iran Growth Market

Swiss-based company Autoneum has concluded an exclusive license agreement with Iranian automotive supplier Ayegh Khodro Toos (AKT) for the production and distribution of its multifunctional components for acoustic and thermal management in Iran. In the future, Ayegh Khodro Toos will produce carpet systems and inner dashes at its plant in Mashhad (Razavi-Khorasan province) for IKAP, […]

Switzerland’s Exports to Iran Rise in 2017

The volume of Switzerland’s exports to Iran grew in 2017, the spokesman for the European country’s State Secretariat for Economic Affairs said. “The positive trend for the export of goods – apart from precious metals – continued this year,” Fabian Maienfisch told the audience at the fourth Europe-Iran Forum external link, which is being held […]

Swiss firms to build 300 MW of Solar in Iran

Swiss investors reportedly plan to build a 300-MW photovoltaic (PV) solar park n the North Khorasan province. Construction is scheduled to begin within four months, ANA News Agency said, with the company being responsible for the design, construction, installation and commissioning of the plant. Alireza Sabouri, managing director of North Khorasan Power Distribution Company told the […]

Video: Ski Diplomacy boosts Swiss-Iran ties

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. As a fierce blizzard sweeps mountains outside Tehran, a team of elite Swiss ski instructors refuses to allow the deep freeze to stand in the way of warming ties with Iran:

Major Austrian Banks to Open Branches in Iran

The head of the Chamber of Commerce of Austria’s Vorarlberg region said major Austrian banks plan to open branches in Tehran following the removal of anti-Tehran sanctions. Key banks such as Bank Austria and Raiffeisen Bank International would be specifically interested in cooperating with their Iranian partners, Helmut Steurer said. Stressing that there is a […]

Western Insurers Target Iran

By John Lee. Reuters reports that Iran is in active talks with insurers to provide cover in a market valued at $9 billion last year, and potentially double that in the next decade. This is despite the fact that Iran has secured ties with only a limited number of smaller banks as U.S. sanctions remain […]

Swiss Firm in $839m Wind Farm Deal

By John Lee. Switzerland’s MECI Group International has signed an agreement with Iran’s government to build a 750 million-euro ($839 million) wind farm. MECI Chairman Jeremiah Josey told Bloomberg: “Iran is at a very interesting point in history. There is so much growth to be had. They can get through at least 20 years of technological […]

Swiss Firm to Develop Iran Transport Hub

Iran’s Perse Transport Bar and Switzerland’s TransInvest Holding signed a deal to jointly develop a dry port in the vicinity of the Iranian capital, Tehran. Called Aprin Dry Port, the facility will connect Iran’s port cities to the capital and will act as the country’s central cargo train intersection. “We are trying to turn the […]

Iran Studying Europe Gas Export Plans

Iran is reviewing various options for exports of natural gas to Europe thus once more reviving an ambitious plan that had been previously shelved due to sanctions as well as technical problems. Alireza Kameli, the managing director of the National Iranian Gas Export Company (NIGEC), said that Iran’s media as saying that exporting natural gas […]

Israel Ordered to pay Iran $1.1bn

Israel has reporedly been ordered to pay Iran around $1.1 billion plus interest in a dispute that pre-dates the 1979 Islamic revolution. Switzerland’s highest court made the ruling in a case regarding the Eilat-Ashkelon Pipeline Co (EAPC), a joint venture set up in 1968, when the two nations were on friendly terms, to transport Iranian […]

Contract Signed for Iran’s Biggest Solar Plant

A Contract has been signed to build a 40-million-euro solar power station in North Khorassan Province using foreign financing. The Managing Director of Power Distribution Company in North Khorassan Province, Ali-Reza Saboori, said the contract was signed for establishment of the first solar power plant in the country have a capacity 30 megawatts. He said […]