Months after the Central Bank of Iran clinched an agreement with the Export Insurance Agency of Russia to pave the way for Russian banks to fund Iranian projects, four Iranian banks have signed an “unlimited finance deal” with the Eximbank of Russia. Bank Sepah, the Export Development Bank of Iran, Parsian Bank and Bank Pasargad have signed […]
Italy’s Techint Engineering and Construction signed an agreement with Ardabil Petrochemical Company to provide the technical know-how for the construction of a 500,000-ton petrochemical unit in northwest Iran, the company’s head of the board of directors said. The contract, worth €34 million ($40 million), was signed between Giorgio Veronesi, Techint’s commercial manager, and Bahram Shahsavari, […]
he Iranian government plans to impose a 10% export duty on non-concentrated iron ore from the beginning of the next Iranian year (March 21, 2018), according to a report by Steelprice, a domestic website close to the industry, citing Jafar Sargheini, a deputy at the mines and industries ministry. The duty will also be increased […]
Staff Writer, TradeArabia Iran’s leading car manufacturer Iran Khodro Company will provide Peugeot with the parts it needs in its proposed Algeria plant, according to a senior company official.The company can also invest in Algeria to produce and sell its products to Peugeot, Hashemi Yekke Zare, CEO of Iran Khodro, was quoted as saying in […]
Mineral Commodities Limited (MRC), a listed Australian junior mining company, has entered the Iranian market, announcing a series of acquisitions and exploration joint-ventures with an eye to the country’s rich copper, gold, cobalt, and lithium deposits. In July 2017, MRC established a wholly-owned Iranian subsidiary, Madan Rahjo Kanyab Company. Bahman Rashidi has been appointed country […]
BEIJING/LONDON (Reuters) – China’s top oil and gas company CNPC is considering taking over Total’s (TOTF.PA) stake in a giant Iranian gas project if the French company leaves Iran to comply with any new U.S. sanctions, industry sources said. Total signed the $1 billion deal to develop the South Pars gas field in July. The […]
Unilever, acting through its Iranian subsidiary, has signed a joint venture partnership with Golestan Company, the makers of Golestan tea and one of Iran’s best known consumer goods companies. The agreement was signed on November 29, but was formally announced this week. The new partnership will see Unilever and Golestan join forces to locally manufacture and sell […]
MOSCOW, December 13. /TASS/. Russia’s top gas producer Gazprom has signed a roadmap on implementation of projects in Iran and a memorandum of understanding and cooperation on an LNG project in the country, the company reported following a visit of its delegation headed by Chairman Aleksei Miller to the country. As part of the visit, Miller […]
WASHINGTON — European diplomatic efforts have helped persuade Congress to hold off on passing legislation that would violate the Iran nuclear deal, at least for now. In the wake of US President Donald Trump’s decision to not certify the Iran nuclear deal in October, a 60-day window for Congress to vote to reimpose Iran nuclear sanctions with […]
Switzerland’s Autoneum, a world leader in the acoustic and thermal insulation for automotive applications, has signed a new exclusive license agreement with Ayegh Khodro Toos (AKT), an Iranian auto parts company that specializes in noise and vibration damping materials. Autoneum and AKT will establish a new production like at AKT’s facility in Mashhad in order to begin producing carpet […]
Ahead of the Organization of the Petroleum Exporting Countries’ (OPEC) ministerial meeting in Vienna Nov. 30-Dec. 1, Iranian Oil Minister Bijan Namdar Zanganeh expressed hope that production cuts that were agreed to last year would be extended. What was at stake, however, was more than energy markets. Zanganeh and his counterparts, including Qataris, Saudis and Emiratis, met amid a delicate […]
ZURICH, Dec 11 (Reuters) – Swiss group Autoneum has reached an exclusive license agreement with Iranian automotive supplier Ayegh Khodro Toos (AKT) to produce and distribute components in Iran, it said on Monday. AKT will produce carpet systems and inner dashes at its plant in Mashhad for IKAP, a joint venture between carmaker Iran Khodro […]
President Trump inherited a Middle East convulsed by crisis and civil war with two fragile exceptions: the Israeli-Palestinian conflict and Iran’s nuclear program, both of which were quiescent. With two impulsive, egotistical decisions, taken against the strong recommendations of his national security team, he has endangered the status quo on both fronts. Now the question […]
TEHRAN — On a crisp morning in Vienna two summers ago, hours before concluding the nuclear deal with the United States, the European Union and five other world powers, I took to Twitter to write that the landmark accord was “not a ceiling but a solid foundation.” Unfortunately, for the past 11 months, the response […]
Iranian President Hassan Rouhani submitted a $337 billion draft budget to parliament that earmarks about $100 billion for public service programs that would create jobs, address a banking crisis and introduce a new social security program. Rouhani told lawmakers that the budget was based on oil prices forecast at $55 a barrel, according to an […]
Bus maker Ikarus has signed an agreement with Iran for the export of 1,000 buses, one third of its full-year production capacity, although it must adapt to local technical requirements. Ikarus Chairman Gábor Széles was among a 20-strong business delegation accompanying Minister for National Economy Mihály Varga on an official visit to Iran at the […]
SYLMAR, Calif.–(BUSINESS WIRE)–Second Sight Medical Products, Inc. (NASDAQ: EYES) (“Second Sight” or “the Company”), a developer, manufacturer and marketer of implantable visual prosthetics that are intended to create an artificial form of useful vision to blind patients, today announced market entry into Iran, implanting the first two patients with the Company’s Argus® II Retinal Prosthesis […]
Iran has launched one of its major post-nuclear deal projects – the port of Chabahar – pushing further for engagement with the global community, days before the US Congress’ expected decision on whether Washington will pull out of the landmark international accord. On Sunday, President Hassan Rouhani officially inaugurated the southeastern port in Iran’s Sistan […]
SEOUL, Dec. 4 (Yonhap) — Hyundai Rotem Co., the train manufacturing unit of Hyundai Motor Group, said Monday it won a 929.3 billion-won (US$856 million) order to supply diesel-powered trains in Iran. The company said in a statement that it signed the mega deal with the Iranian government Saturday (local time) to build 450 trains […]
Iran inaugurated a long-awaited new port at Chabahar in the southeast Sunday, which it is hoped will be a major new trade hub linking India and Africa with Central Asia. The first three shipments of Indian wheat to Afghanistan were unloaded in the morning, according to the Iranian ports organisation. “Through this port, goods will […]
Government officials and investors all agree that Iran needs to improve its business climate to attract the needed investment for job creation. One of the phenomena that can help ease the process of doing business is the country’s customs organization. Incidentally, Iran’s current minister of economic affairs and finance, Massoud Karbassian, was promoted from his previous position as […]