Tag Archives | United Arab Emirates (UAE)

Did Rouhani Ban Film about Jailed Iranian-American Businessman?

By Rohollah Faghihi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Did Rouhani stop screening of hardline film about jailed Iranian-American? Ever since taking office, Iranian President Hassan Rouhani has come under increasing pressure from hard-liners who have been trying to tie his administration to the […]

India Drops Plan to Buy UAE Oil, Turns to Iran

India plans to buy 6 million barrels of Iranian crude oil after its talks with the United Arab Emirates’ national oil company for supplies came to a close over commercial terms, industry sources said. Three industry sources with direct knowledge of the matter said India would buy 6 million barrels of Iranian Mix crude from […]

RAK Ceramics wants to Expand Iran Operations

By John Lee. Ras Al Khaimah-based RAK Ceramics has said it wants to expand its manufacturing operations in Iran. According to a report from The National, the Abu Dhabi-listed company fully acquired its Iranian business last August, which was financed by the World Bank when it started in 2003. Nour Eldeen Sherif, an equity analyst at […]

Iran’s Non-Oil Exports up by 21%

By John Lee. Iran’s non-oil exports reportedly rose by 21 percent year-on-year over the past four months. IRNA says Iran exported some 41.161 million tons of non-oil commodities worth $16.308 billion in the four-month period which shows 36.37 percent increase in terms of weight and 21.11 percent growth in terms of value. Iran also imported […]

Are Hard-Liners moving in on Iran’s Oil Ministry?

By a Correspondent in Tehran, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran’s crude exports nearly tripled between November 2015 and May 2016. The state-run National Iranian Oil Company (NIOC) hit pre-sanctions levels of sales late this spring, shipping out 2.6 million barrels per […]

FT: Iran looks to Iraq and even Syria for Trade

The Financial Times reports that Iran finds Iraq to be a big market for its domestically produced goods, including fresh milk, antibiotics and cement. Yahya Ale Eshaq, head of the Iran-Iraq Chamber of Commerce, told the newspaper: “Iraq needs everything, which makes it the best market for Iranian-made goods … “We can work with European […]

Iran revs up for Auto Revolution

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. The auto giant PSA Peugeot Citroen has become the first foreign company since the Jan. 16 implementation of the Joint Comprehensive Plan of Action to obtain a license from the Iranian government to invest […]

Leading Experts to discuss Business Opportunities in Iran

Leading Experts to discuss Business Opportunities in Post-Sanctions Iran Following Implementation Day – January 16th 2016, many of the economic sanctions have been removed, paving the way for international companies to work in Iran without punitive action from the EU and US. Despite being the second biggest economy in the Middle East, Iran has a […]

Saudi-Iran Rivalry spills into UN Human Rights Council

By Fereshteh Sadeghi, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. On March 23, the United Nations Human Rights Council voted to pass Resolution A/HCR/31/L.27, thereby extending the mandate of the special human rights rapporteur for Iran, Ahmed Shaheed (pictured). The resolution was approved by […]

Dubai-Based Company Eager to Finance Projects in Iran

Yellow Door Energy, a company with technical expertise in solar energy projects in the Middle East, has expressed willingness to finance two solar power plants in Iran. Representatives of the company, which is headquartered in the Emirati city of Dubai and is mostly owned by Adenium Energy Capital, held a meeting at the Renewable Energy […]

Big Rise in Tenders for Iranian Offshore Projects

By John Lee. Zawya reports that the number of tenders for Iranian offshore projects increased by 20 percent in the last Iranian calendar year. The Head of the Contracts Department at the Iranian Offshore Oil Company (IOOC) said that 120 tenders were held last year for development of the offshore sector and the sea fields, […]

Airbus in Talks with Tehran to Produce Components

Iran could begin making parts for Airbus Group SE aircraft under plans being discussed following January’s historic agreement to purchase 118 jetliners from the European manufacturer. Airbus’s Middle East office said the company is evaluating areas of industrial cooperation with Iran that may include component production and maintenance and overhaul work, Bloomberg reported. Iran developed […]

UAE Payments Firm in talks with Iranian Banks

The CEO of Network International, the largest payments processor in the Middle East and Africa, has said the company could begin working with some of Iran’s largest banks this year. Bhairav Trivedi (pictured) told Reuters the company is in talks with the banks about how it could begin processing transactions without breaching the remaining economic […]

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 […]

Iran Expects Oil Dues to be Settled Soon

By John Lee. An official from Iran’s Ministry of Petroleum has confirmed that international oil companies (IOCs) have started paying the amounts owed to Iran for pre-sanction oil purchases. Ali-Asqar Hendi added that the country expects to receive all the oil dues from foreign companies by April, with the exception for the amounts owed by […]

First Western Company to Load Iranian Oil

By John Lee. Swiss-based Glencore has become the first Western company to load oil of energy-rich and sanctions-free Iran. The Wall Street Journal reports that a tanker chartered by Glencore loaded 80,000 metric tons of fuel oil at Bandar Mahshahr on Friday and left for the United Arab Emirates (UAE). Oil Minister Bijan Zanganeh said […]

Iran Debtors Ready to Settle Oil Debts

Iran says foreign oil firms are ready to settle their debts to Iran, probably in euros. Iranian Minister of Petroleum Bijan Zangeneh told a press conference on Tuesday that Greece’s Hellenic Petroleum, Italy’s Saras and Royal Dutch Shell owe Iran about $4 billion, which will be paid back to Iran in euros. Shell has said […]

Will Saudi’s Cut to Trade with Iran Really Matter?

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. Tension seems to be escalating further between Tehran and Riyadh after the Jan. 2 storming of the Saudi Embassy and consulate by a number of “extremists” in Iran. Although the administration of President Hassan […]

Int’l Banks Exploring Prospects in Iran

By John Lee. Reuters reports that Dubai’s largest lender, Emirates NBD (ENDB), is just one of the many banks that are already meeting prospective clients and taking legal advice about entering Iran. According to the report, non-U.S. banks may trade with Iran without fear of punishment in the United States, but U.S. banks may not, […]