Iran’s target of boosting its steelmaking capacity to 55 million mt/year by 2025 is achievable and could even be met ahead of deadline, domestic media quoted a key industry consultant as saying Tuesday. However, he said the main challenge for Iran was not expanding steelmaking capacity, but obtaining raw materials. “The country’s [nominal steelmaking] capacity […]
Iranian Deputy Foreign Minister for Political Affairs Abbas Araghchi has expressed hope that Europe will remain committed to the nuclear deal. On Jan. 29, Araghchi appeared on Ofogh TV’s hard-line political show to respond to the criticisms and ambiguous points of the Joint Comprehensive Plan of Action (JCPOA), which was achieved between Iran and the […]
BEIRUT (Reuters) – Oil production from the West Karoun oilfields in southwest Iran nearly doubled in the past year, oil minister Bijan Zanganeh said in an interview broadcast live on state TV Saturday. Oil production for the West Karoun oilfields for the Iranian month of Dey, which runs from late December until late January, was […]
Regional turboprop manufacturer ATR is hopeful that worsening relations between the US administration and Iran will not hinder its business relationship with Tehran. ATR delivered eight aircraft to Iran Air in 2017 and plans to deliver a further 12 by the end of this year, as part of Iran’s effort to replace its antiquated civil […]
The headquarters of Dongbu Daewoo Electronics are located in a skyscraper on “Teheran-ro” (Tehran Street) in downtown Seoul, South Korea. The street is the address for so many of Korea’s leading industrial and technology companies that the area is called Tehran Valley, a nod to Silicon Valley. The street name dates back to 1977, when, […]
The first shipment to pass through the port of Chabahar to Afghanistan was celebrated with much fanfare and excitement this late October. India, with the largest economy in South Asia and an ever-rising military footprint has much to be proud of regarding this development. In the face of regional tensions with its western neighbor, Pakistan, […]
The last time Europe was tested so heavily by a U.S. president was prior to the 2003 invasion of Iraq. Ever since, members of the European foreign-policy elite have questioned whether the continent failed to adequately push back against this disastrous decision, which proved so costly for European interests. European leaders should heed past experience and […]
Over the next three years, Iran will add more advertising dollars than any of the other countries included in Zenith’s Thirty Rising Media Markets report. Zenith predicts that ad spend in Iran will grow by $713m (£514.4m) between 2017 and 2020, to reach $2.1bn in total. This represents an average annual growth rate of 15%. The […]
In November, a government report detailing the first 100 days of President Rouhani’s second term, announced that Digikala, Iran’s leading e-commerce platform, had received a major new investment. A section of the report tabulating recent foreign direct investment in Iran notes that an entity called International Internet Investment Coöperatief UA (IIIC) has made an investment of USD […]
UNITED NATIONS (Reuters) – U.N. Secretary-General Antonio Guterres warned on Wednesday that any issues not directly related to the Iran nuclear deal “should be addressed without prejudice to preserving the agreement,” his spokesman said amid U.S. concerns with Tehran. U.S. President Donald Trump said on Friday that European allies and Congress have to work with […]
PARIS (Reuters) – French carmaker PSA’s (PEUP.PA) global sales jumped by 15 percent last year as strong growth in Iran and Latin America helped to offset difficulties in Britain and China. The owner of the Peugeot brand sold 3,632,300 vehicles in 2017, it said on Tuesday, a day after domestic rival Renault (RENA.PA) announced a […]
Executive Summary: The story of Iran’s post-sanctions economic recovery is so far one of great expectations and frustrating delays. On the two-year anniversary of the implementation of the Joint Comprehensive Plan of Action, this report examines the “economic implementation” of the nuclear deal. Multinational companies remain committed to the Iranian market, but the much-needed […]
A new crop of entrepreneurs are making Iran a hub for hardware development, drawing on the country’s deep pool of mechanical and electrical engineering talent. Iran’s burgeoning startup ecosystem has enjoyed extensive international attention over the last few years, but the focus has remained almost exclusively on app developers and software creators. Behind the scenes, […]
Iran’s landmark gas deal with French energy firm Total is moving ahead, Oil Minister Bijan Namdar Zanganeh said in a statement, lending confidence to the country’s biggest energy contract since the lifting of sanctions in Jan. 2016. Total signed a $5-billion deal in July last year to develop an offshore section of South Pars, the […]
Aboard member of Middle East Bank, which alongside Bank of Industry and Mine was one of the two Iranian banks that clinched a €5 billion finance deal with Italy’s Invitalia on Thursday, elaborated on the landmark deal. “The Middle East Bank will only use the credit line of the deal to fund the private sector, […]
Donald Trump has waived a raft of sanctions against Iran as required under a 2015 nuclear agreement, staying within the deal for the time being, but the US president warned European allies and Congress it will be the last such waiver he signs if they fail to agree to radical changes. With his announcement, the president […]
Iran’s foreign minister arrives in Brussels on Thursday for a visit threatening to become a lightning rod for critics of the EU’s tepid response to anti-regime protests in the Islamic Republic. Mohammad Javad Zarif will meet Federica Mogherini, Brussels’ top diplomat, and foreign ministers from Germany, France and the UK in a diplomatic show of […]
ROME (Reuters) – Italy and Iran will on Thursday sign a framework credit agreement worth 5.0 billion euros whereby Rome will help Italian companies invest in Iran, a Treasury source said on Wednesday. The accord foresees the opening of lines of credit to two Iranian banks by Invitalia, an Italian state-owned holding, in order to […]
During a planned visit to New Delhi, Iran’s Minister of Roads and Urban Development and his Indian counterpart are expected to make the final decision about details of a deal on financing a railroad linking the Iranian southeastern cities of Zahedan and Chabahar, an official said. In a meeting with India’s ambassador to Tehran, Iranian […]
A key OPEC minister has warned that the group risks overheating the oil market as crude prices head toward $70 a barrel. “Members of the Organization of Petroleum Exporting Countries are not keen on increased Brent crude prices above $60 a barrel because of shale oil,” Iran Oil Minister Bijan Namdar Zanganeh said, according to […]