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  • CBI to Control Civil Service Pay


    The Central Bank of Iran will be in charge of paying the salary of civil servants from the start of the next Iranian year (starting March 21, 2017). Rahmatollah Akrami, deputy minister of economy for financial supervision and treasury, said the central bank is working on fundamental measures to help the treasury, mainly through digitalization, ISNA reported on Thursday. ... See more

  • New Page in Iran-Syria Economic Relations


    Iran has signed major economic contracts with Syria in what Tehran and Damascus have hailed as “a new page” in economic ties. Syria’s economy is shrinking fast as industrial and agricultural output falls after six years of civil war, and almost two-thirds of the population live in extreme poverty. Five memorandums of understanding were signed during a visit by Syrian Prime Minister Imad Khamis to Tehran on Tuesday, including a license for Iran to become a mobile phone service operator in Syria, and phosphate mining contracts, Reuters reported... See more

  • China Leader Warns Against Protectionism, Trade Wars


    Chinese President Xi Jinping used his first appearance at the 47th World Economic Forum to mount a robust defense of globalization. “It is the result of growing social productivity and is the natural outcome of scientific and technological advances”, Xi said in the forum’s opening plenary. “It is not something created by individuals or any countries”. He said many people are concerned about what has gone wrong with the world in recent years. But, he said, it was wrong to blame economic globalization, news outlets reported.... See more

  • CBI Eases Leasing Regulations


    The Central Bank of Iran announced on Tuesday that it has revised regulations regarding the operation of leasing companies, allowing lenders to offer their services at approximately 3% higher interest rate than those offered by the banking sector. The measure is coming after successive complaints made by lenders over the Money and Credit Council’s imposition of an interest rate cap on lease contracts, which is 21% at present. Leasing companies claim that the real cost of lease contracts ranges between 25-29%.... See more

  • TEDPIX Breaks Above Resistance Level


    Tehran Stock Exchange’s main index rose 197.30 points or 0.25% to end Sunday trade at 79,073.5. More than 1.9 billion shares valued at $94.3 million changed hands for the day. Ardakan Industrial Ceramics Company was the biggest riser, going up 5% to 3,866 rials per share. Gharb Cement Company incurred the biggest loss among all TSE-listed companies, as it went down 4.97% to 3,595 rials per share.... See more

  • Economy Minister Reiterates Business-Friendly Strategy


    Economy Minister Ali Tayyebnia said the administration of President Hassan Rouhani has come a long way to salvage the country's economy from years of inefficiency and mismanagement by implementing reforms in key areas. These reforms, according to him, focus on supporting private enterprise, organizing the government's massive debts and overhauling the tax system..... See more

  • 2017, a Crucial Year for Euro


    urope has not been doing well. In 2016, GDP per capita for the eurozone as a whole finally returned to pre-crisis levels. It is claiming victory in Spain—even though unemployment remains near 20% and youth unemployment is more than twice that—simply because things are better today than they have been since the euro crisis began a half decade ago..... See more

  • Genaveh Power Plant Fully Operational


    he steam unit of Bandar Genaveh Combined Cycle Power Plant with an output capacity of 160 megawatts is expected to go on stream on Thursday in a ceremony attended by Hamid Chitchian, the energy minister, in Bushehr Province, Iran’s Thermal Power Plants Holding Company (TPPHC) project director said on Tuesday. “The launch of the steam unit mark the completion of Genaveh power plant,” Mahdi Khabaz Pisheh was quoted as saying by IRNA. ... See more

  • Imports, Exports Even Out


    Iran’s non-oil foreign trade during the nine months of the current Iranian year (started March 20) stood at $63.12 billion. According to the latest report released by the Islamic Republic of Iran Customs Administration, 91.26 million tons of commodities worth $31.59 billion were exported during the period, registering a 9.05% rise compared with the corresponding period of last year..... See more

  • Donya-e-Eqtesad Launches Market Data Website


    The Tehran-based media corporation Donya-e-Eqtesad launched a stock market information service called Donya-e-Bourseon Sunday. Ali Reza Bakhtiari, owner and managing director of the media group, said the new service is in line with his declared policy to help “promote the free market, competiveness and openness.” Regarding the team that will feed the bourse website, he said, “Their mandate is to premised on expanding and augmenting transparency and information in the capital market.”... See more

  • NDFI Ready to Finance Trade With Latin America


    Iran's sovereign state fund is ready to bankroll projects involving the export of goods and techno-engineering services to Latin American countries, announced the fund's director. "The National Development Fund of Iran is able to provide credit to sellers and buyers, issue advance payment guarantee and finance the equipment of workshops in overseas projects of Iranian contractors," Ahmad Doust-Hosseini was also quoted as saying by IBENA.... See more

  • US Easing Medical, Agro Exports to Iran


    The US Treasury Department unveiled new regulations on Dec. 22, which make it easier for pharmaceutical, medical device and agricultural sectors to more easily sell their products in the 80-million-strong Iranian market. In a first, the Office of Foreign Assets Control is also allowing relevant companies to send Americans to Iran to help with their operation and maintenance.... See more

  • Iran, Kazakhstan Agree to Enhance Banking Coop.


    banking memorandum of understanding was signed between the central banks of Iran and Kazakhstan during President Hassan Rouhani's three-nation tour of Armenia, Kazakhstan and Kyrgyzstan. Central Bank of Iran Governor Valiollah Seif and National Bank of Kazakhstan Governor Akishev Daniyar Talgatovich signed the agreement in the presence of Rouhani and his counterpart Nursultan Nazarbayev, the website of CBI reported.... See more

  • 25% Rise in Tax Revenues


    The government’s tax revenues have grown by 25% in the first eight months of the current Iranian year (started March 20) compared with last year’s corresponding period, the head of National Tax Administration said. However, Kamel Taqavinejad did not specify how much the administration earned over the period. In the budget bill submitted to parliament earlier this month, the government is projecting that taxes will rise to 1,130 trillion rials ($28.6 billion at market exchange rate) for the upcoming fiscal year, up from this year’s estimated 1,010 trillion rials ($25.6 billion).... See more

  • JCPOA Panel to Meet on ISA in Weeks


    An international commission that monitors the implementation of the 2015 nuclear deal will convene early next month to address Iran's complaint over the extension of a US sanctions law for another 10 years, a lawmaker said. A bill passed almost unanimously by the US Congress earlier this month renewed the Iran Sanctions Act, first adopted in 1996 to target Iran's energy sector.... See more

  • 1st Airbus Delivery Next Month


    Iran has finalized an agreement with Airbus to acquire 100 jetliners, the first of which is expected to be delivered in mid-January, Iran's deputy roads and urban development minister, Asghar Fakhrieh-Kashan, told Reuters on Monday. The deal, split roughly equally between narrow-body and wide-body aircraft, will be signed in the coming days, possibly as early as Monday or Tuesday, he added.... See more

  • Iranian Gov’t Moves to Defend Citizens’ Rights


    President Hassan Rouhani unveiled the final version of the Charter on Citizens' Rights in a ceremony on Monday, which is expected to raise public awareness on their rights and commits all government bodies to ensure their enforcement. Rouhani's move is intended to fulfill one of his 2013 electoral pledges to clearly delineate, promote and defend the rights of citizens.... See more

  • Russia's Lukoil, NIOC in Swap Talks


    Russia's second-biggest oil producer Lukoil is in talks with the National Iranian Oil Company over oil swap operations, Oil Minister Bijan Namdar Zanganeh said. "Lukoil has shown interest in concluding swap deals, but negotiations have not come to fruition yet," Zanganeh was quoted as saying by IRNA on Saturday.... See more

  • Iran Economy Grew 7.4% in H1


    The Central Bank of Iran, in its latest report on the country's economic growth, said the gross domestic product during the first half of the current fiscal year (started March 20) grew 7.4% compared with last year's corresponding period. According to the CBI report, most of the growth came from the oil sector.... See more

  • Steel Growth Driven by Construction, Railroad Boom


    Projects underway in Iran in the construction, automotive and railroad infrastructure sectors should provide a substantial boost to demand for steel in the country. A fast-developing country, marked by a fast-growing population—80 million and rising—and a high level of urbanization, with 70% living in cities, the country has the potential to become one of the biggest construction markets in the Middle East, reads an article published in the latest edition of Metal Bulletin magazine based on Financial Tribune’s data. Below is the full text.... See more

  • Gov’t, Private Sector at Odds Over Forex Rates %


    President Hassan Rouhani’s government does not want foreign exchange rates to surge against the rial, as it would not be in its favor, the administration’s spokesman said. “The official rate of the US dollar is not higher than 32,000 rials and it would not be in the benefit of the government for greenback rates to be high,” Mohammad Baqer Nobakht was also quoted as saying by IBENA.... See more

  • Iran Mineral Trade Data Out: Exports Up 34% in Value, Imports Down 22%


    ran exported more than 34 million tons of mineral products worth over $4.41 billion in the eight months to November 20, registering a 36% and 34% growth in weight and value respectively compared with last year’s corresponding period. Imports stood at 3.89 million tons worth $2.4 billion to indicate a 30.2% and 22.3% decline, according to a communique published by the Iranian Mines and Mining Industries Development and Renovation Organization on the social media and seen by Financial Tribune... See more

  • Boeing Signs $16.6b Deal for 80 Passenger Jets


    Flag carrier Iran Air signed a final contract in Tehran on Sunday to purchase 80 passenger jets from American plane manufacturer Boeing. The $16.6 billion deal includes 50 of Boeing’s narrow-body 737max 8s, 15 wide-body 777-300ERs and 15 777-9s, which will be delivered to Iran Air over 10 years, according to the website of the Ministry of Roads and Urban Development’s news service.... See more

  • To Intervene or Not to Intervene?


    Iranian miners and the government are locked in a peculiar, strained relationship. Miners, most of whom belong to the private sector, hold that the government must act simply as a legislator and support paving the path for the sector’s growth, by avoiding pricing intervention, manipulating trade barriers and picking favorites among companies..... See more

  • Plans to Extend Oil, Gas Exploration in Sea of Oman


    Plans are underway to extend oil and gas development studies in the Sea of Oman for the next five years in search of hydrocarbon deposits in the region, the deputy head of exploration department at the National Iranian Oil Company said. “Iran has so far not drilled in the Sea of Oman. But this will change under the auspices of the next economic development plan (2016-21),” Bahman Soleimani said, adding that early appraisals point to huge oil and gas reserves in the region, Shana reported on Saturday.... See more

  • New Banknotes a Possibility as Rials's End Looms


    If the decision made by the Cabinet to change Iran’s monetary unit is implemented, Iranian banknotes will also undergo changes, a deputy governor of the Central Bank of Iran said. “If the decision is approved by the parliament, it is possible that minor changes will be considered when printing new banknotes at the beginning of the next year (in March),” Akbar Komijani was also quoted as saying by the official Telegram channel of CBI..... See more

  • IRISL Places $650m Order for 10 South Korean Vessels


    Islamic Republic of Iran Shipping Lines has signed its first post-sanctions shipbuilding deal with the world's largest ship manufacturer Hyundai Heavy Industries on December 9. Based on a report by IRNA, “HHI will build 14,500 TEU container ships and 49,000 DWT tankers with the funds provided by South Korean banks and financial institutions.”.... See more

  • Currency Market and the Folly of Old Ways


    The past two weeks saw the US dollar surge to a historic high in Tehran’s market, unleashing the usual panic emblematic of all currency upheavals elsewhere. The occasion was reminiscent of the currency crisis of 2012 when the rial lost 57% of its value over three months in the thick of sanctions against the country’s nuclear program.... See more

  • Oil Tops $55 for 1st Time in 16 Months


    Brent crude oil prices rose above $55 a barrel on Monday, trading at a fresh 16-month high, on rising prospects of a tightening market after OPEC members agreed on a landmark deal to cut production last week. Brent crude oil futures, the global benchmark used to trade oil, soared to their highest since July 2015 to $55.33 a barrel. WTI crude oil traded up 44 cents, or 0.8%, at $52.12 a barrel, Reuters reported..... See more

  • Greenback at Four-Year High


    The US dollar was sold for 39,500 rials in Tehran market on Sunday to mark a 2.4% growth compared with the previous day’s close of 38,600 rials. Reports suggest some moneychangers had sold the currency for as high as 39,800 rials. The currency, however, lost some ground and closed at 39,100 in late trade..... See more

  • Steel Potential, Challenges in Iran


    There is a mismatch between Iran’s steelmaking capacity and steel demand at present. A number of obstacles must be overcome for its steel industry to reach its true potential, reads an article published in Metal Bulletin magazine’s latest edition. The full text follows: .... See more

  • Budget Shrinks 4.6%, Gov't Rolls Back Spending


    President Hassan Rouhani will ask for a smaller budget from the parliament for next year. The government is rolling back its expenses in appreciation of economic realities. He will take the budget for the next Iranian year (startting March 21, 2017) to the parliament on Sunday. .... See more

  • CBI Chief Claims: Dollar Bull Run Temporary


    The governor of the Central Bank of Iran is trying to assuage concerns about the recent surprise rally in currency markets saying the surge is temporary and will abate in the last three months of the current fiscal year that ends next March. .... See more

  • Leap in Working Capital Loans


    The total amount of loans allocated to the services sector by Iranian banks in the first seven months of the fiscal year to October 22 has been more than five times the amount of loans handed out to the agriculture sector, a report by the Central Bank of Iran indicates. In its latest report published on its official website containing data which will prove useful to monetary policymakers and experts, the central bank highlights the share of loans given as working capital..... See more

  • Iranian Steelmakers Need to Look Beyond Borders


    The current situation in the domestic steel market has compelled most Iranian producers to shift their attention to exports. However, they need to tackle an array of problems including lack of funding, high transportation costs, strong international competition and unstable market environment..... See more

  • IFRS Accounting Standards Mandated


    The Securities and Exchange Organization has mandated companies to prepare their financial statements based on International Financial Reporting Standards for the current fiscal year (ends March 20), in an official letter to all Iranian securities issuers and auditors. SEO’s board of directors is doing this in accordance with a directive by Iran Audit Organization. “This is a pertinent step to enhance transparency and development of the Iranian capital market and uplift its international status,” Hassan Amiri, SEO's deputy for supervision on exchanges and issuers, wrote in the letter..... See more

  • 2 Major Firms to Make Debut at TSE This Month


    A drug maker and an oil company, slated to go public this month (the Iranian month that started on Nov. 21), will be the vanguard of 37 listings planned by Tehran Stock Exchange for the next six months. Barekat Pharmaceutical Group and Jey Oil Refining Company will each sell a 10% stake on Tehran Stock Exchange, Esmaeil Dargahi, TSE's listing deputy, was quoted as saying by Boursepress..... See more

  • TSE Gauge Ends Week Lower


    Tehran Stock Exchange’s benchmark index shed 1,259 points or 1.6% during the trading week that ended on November 9 to close at 78,411. TSE trading begins on Saturday and ends on Wednesday. Iran’s markets were rocked by Donald Trump’s surprise election as the 45th president of the United States on Wednesday. TSE experienced its largest drop since April 16, as Tehran reacted to the clouds gathering over the nuclear deal with the West..... See more

  • Private Sector Leads Growth in Iran Steel Industry


    Iranian private steelmakers produced more than 1.9 million tons of crude steel during the first half of the current Iranian year (started March 20), registering a 37% jump compared with last year’s corresponding period, according to Iranian Steel Producers Association. The private sector also produced over 3.1 million tons of steel products during the six-month period to register a 3% increase. The output for all their products recorded an upward trend, with the exception of cold-rolled coil, which dropped 11% to 226,000 tons.... See more

  • Turkey-(P)GCC Anti-Iran Statement Dismissed


    Iran’s Foreign Ministry denounced Turkey and the (Persian) Gulf Cooperation Council for their recent anti-Iran statement, calling on them to stop shifting blame on others to cover their failures. Turkey and (P)GCC countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE) held a joint ministerial meeting in Riyadh on Thursday, at the end of which they issued a statement that criticized Tehran for what they alleged as its interference in other countries’ affairs.... See more

  • SEO Mandates Monthly Corporate Statistics


    Data is the lifeblood of modern markets. For better or worse, many investors tune into latest developments and base their trades on newest statistics, decisions and announcements by companies and governments. These days, the most recent earnings report can change sentiment in many investors, though some argue those decisions should be made with a longer time horizon in mind.... See more

  • Russia Firm Helping Iran's Water Development Projects


    Russia has opened a $5 billion credit line to help finance infrastructure projects in Iran, $250 million of which is allocated for deep-water discovery projects, a deputy energy minister said, referring to a memorandum of understanding signed between Tehran and Moscow in 2015. Rahim Meidani underscored the conclusion of an MoU between the Energy Ministry and Russia's Rosgeologia, and said, "The MoU was signed after President Vladimir Putin's trip to Tehran in December last year," Mehr News Agency reported.... See more

  • Iranian Saffron Spices Up German Food Business


    Once cultivated by Persian kings and believed to have healing powers, saffron is now fuelling the growth of a small German business that imports tons of the spice from Iran to make fine food products for sale in Europe and beyond. “We try to capture the soul of saffron and the magic it contains,” Reuters quoted Michael Sabet, an Iranian-German business executive who quit his banking job six years ago to found Miasa GmbH, which is now doubling its revenues every year..... See more

  • Anti-Smuggling Drive to Promote Trade


    Trade between Oman and Iran dates back millennia, according to Marc Valeri, a political scientist and expert on Persian Gulf countries. In the past, trade was illicit and conducted by smugglers, as longstanding international sanctions on Iran made financial transactions through legal channels difficult. But at present, smugglers may face a hard time now that the sanctions have been lifted over Iran's compliance with the terms of the nuclear deal signed last year, reads an article published by Al Jazeera. .... See more

  • Moderation Only Path to Development


    President Hassan Rouhani said the government should maintain the path of moderation in its domestic and foreign policies, as there is no other way to advance the country and Islamic Revolution of 1979. The president made the statement in an address to local officials in Qazvin Province on Thursday, IRNA reported. Rouhani said viewing all other countries as adversaries and having no outside contact will not help the country progress..... See more

  • Venezuela Announces $3.2b in Oil Deals as Default Looms


    Venezuela, teetering on the brink of an economic collapse, is rushing through a tender for billions of dollars of drilling contracts to boost oil production in the Orinoco Belt. Its state-owned oil and natural gas company PDVSA said last week that it has awarded $3.2 billion in contracts to drill in the Orinoco Belt. The contracts, PDVSA says, will add 250,000 barrels per day within 30 months from about 480 wells to be drilled, Oil Price reported. The deal asks the drilling companies to pay for the cost of drilling and then receive compensation in future oil production. PDVSA described its drilling campaign as “one of the world’s largest drilling projects.”.... See more

  • Iran's Energy Ministry Outlines Plan to Tackle Water Woes


    Iran's Energy Minister Hamid Chitchian said the government is determined to tackle the country's aggravated water scarcity and drought in an overarching program under the sixth five-year development plan (2016-21). "We have plans to restore balance to surface and underground water resources, deploy measurement and control systems in the water network, expand water purification facilities, filter out nitrate and heavy metals, and recycle wastewaters," he added...... See more

  • IPC Will Spur Growth, Seen as Hedge Against Sanctions


    a senior Iranian economist says Iran's new oil contracts will help the country expand its footprint on the global energy map and work as a bulwark against international sanctions that can be snapped back. "We should look at the new contracts as a transitional phase -- from selling heavy crude to exporting products with higher value added. Iran Petroleum Contract will enhance our technical capability and create many jobs," Mehrdad Emadi, a senior economist at the Betamatrix International Consultancy in London and former advisor to the EU said in an interview with ILNA..... See more

  • Eastern Europe Future in Doubt


    The EU is falling apart. Europe’s exporters face a crisis. Its southern economies are troubled. Germany has economic challenges of its own. But as Europe’s crises deepen, something else will become more important. The erosion of the Schengen zone could hurt Eastern members’ ties with the West. Their economic and social stability depends on access to the EU. This includes funding, investments, trade, and labor markets. So the East is sensitive to economic changes in western Europe and the continued fracturing of the bloc, news outlets reported. .... See more

  • Zanganeh, Lukoil Discuss Oilfields


    Oil Minister Bijan Namdar Zanganeh discussed developing two Iranian oilfields by Russia’s Lukoil in a meeting with Vagit Alekperov, the company’s chief executive director in Tehran. “We will hand over the results of our surveys on Abteymour and Mansouri oilfields to the National Iranian Oil Company in the near future. Our team of experts will be in Ahvaz (Khuzestan Province) to expand studies,” Alekperov was quoted as saying by Shana on Monday. .... See more

  • Strong Economy Key to Countering Threats


    Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei warned of plots by hostile powers that have targeted the Islamic Republic’s economic efficiency to undermine its legitimacy. “The enemy is seeking to hurt the people’s financial wellbeing and, ultimately, create public dissatisfaction with Islam and the Islamic system,” the Leader’s official website quoted him as saying on Tuesday.... See more

  • 2nd CAPA Summit Opens in Tehran


    The Iran Aviation Finance Summit organized by the Center for Asia-Pacific Aviation opens at Tehran’s Imam Khomeini International Airport today. Iranian officials, alongside 150 officials and business executives from Britain, France, Germany, the Netherlands, Brazil, Canada and China, among others are participating in the two-day event, Mehr News Agency reported. .... See more

  • NAM Presidency Handed Over to Venezuela


    Iran handed over the rotating presidency of the Non-Aligned Movement to Venezuela for three years. It took place at the 17th summit of the heads of state and government of the international group held on Venezuela’s Margarita Island on Saturday, IRNA reported.... See more

  • Zarif in Venezuela for NAM Meeting


    Foreign Minister Mohammad Javad Zarif left Iran for Venezuela on Tuesday morning to attend a meeting of the foreign ministers of Non-Aligned Movement. The ministerial meeting of NAM, due to be held on Margarita Island, will precede a summit meeting to be attended by leaders of the movement's members, Tasnim News Agency reported .... See more

  • Iran Signs MoU With 2 Int'l Bodies on Wasterwater Projects


    he National Water and Wastewater Engineering Company of Iran (Abfa) has signed a memorandum of understanding on wastewater treatment with two international organizations, namely the International Water Association (IWA) and the International Commission on Irrigation and Drainage (ICID). .... See more

  • German Delegation Eager to Ease Financial Operations


    The German state of Bavaria has authorized three Iranian lenders to open branches in Munich, announced its State Minister of Economic Affairs and Media Ilse Aigner at a press conference in Tehran on Monday. Aigner said Parsian Bank, Middle East Bank and Sina Bank will open branches in the capital and largest city of the state by August 2017. .... See more

  • Iran Ready to Ramp Up Crude Output to 4 mbpd


    Iran is ready to raise oil production to 4 million barrels per day in the next two to three months depending on market demand, a senior official from the National Iranian Oil Company said on Monday. "We can increase crude production based on market requirement," Mohsen Qamsari, the director for international affairs at NIOC, said at the Argus Crude Forum in Singapore, Reuters reported. .... See more

  • Banking Sector Indispensible to 8% Growth


    Head of the Management and Planning Organization said Iran is aiming for an average annual growth of 8% over the course of the next five years and to achieve this ambitious goal, the banking sector needs to extend 1.8 quadrillion rials ($ 57.6 billion ) in credits to private firms. Mohammd Baqer Nobakht added that the country’s growth target and its commitment to turn itself into a regional power hub by 2021 is simply a “must” and not some “option.” “Financing through the money market takes center stage here and banks as the most important finical intermediaries should be able to provide 24% of the resources to businesses in need,” he said in the opening remarks to the 27th Annual Islamic Banking Conference in Tehran on Tuesday. .... See more

  • Iran Unveils Name, Date for 1st IPC Tender


    Iran on Tuesday underlined the giant South Azadegan Oilfield as the first of dozens of projects to be tendered under its new oil contracts, known as Iran Petroleum Contract. The bidding process for the sought-after onshore project will begin next month or in early October, said Ali Kardor, head of state-owned National Iranian Oil Company, the Oil Ministry news agency Shana reported.... See more

  • Bill Proposes Enhanced Central Bank Autonomy


    The Central Bank Bill is set to improve the regulator's independence in various aspects, said the CBI vice-governor, Ali Akbar Komijani, elaborating on details of the Central Bank Bill and the Banking Reform Bill awaiting parliamentary approval, “The bill calls for legal independence for the central bank in various aspects, namely organization and structure, budgeting and regulatory affairs,” the CBI website quoted him as saying on Sunday.... See more

  • Europe, Asia Stocks Slump


    uropean stocks kicked off the week in negative territory, with rising expectations the US Federal Reserve will raise interest rates later this year punching the air out of the recent rally. The Stoxx Europe 600 index SXXP, -0.38% lost 0.6% to 341.80, pulling back after a 1.1% climb last week, news outlets reported.... See more

  • Russian Firm in $1b Oil Rig Deal With Iran


    Iran and Russia have signed a contract worth $1 billion to build five offshore drilling rigs for exploration and production in Iran's oil and gas fields in the Persian Gulf. The contract was signed by Ehsan Mousavi, managing director of Tasdid Offshore Development Company and Aleksandr Ilichev, head of Russia's Krasnye Barrikady in a meeting in Tehran late Saturday, IRNA reported...... See more

  • Persian Carpet Reemerging


    The 25th Persian Handmade Carpet Grand Exhibition was held in Tehran as the economic landscape starts to improve for this Iranian craftsmanship in the global market after the lifting of sanctions in mid-January. Handmade rug exports were hit during the sanction years as Iran lost most of its markets in Europe and the US -- the main destination of the fine carpets. With Iranians nowhere around, its long time rivals India, Pakistan, China, Afghanistan, Nepal grabbed the opportunity and secured a foothold in the global markets where the Persian rug was king.... See more

  • Siemens Releases 1st Batch of Blocked Oil, Gas Equipment(02/29/2016)

    The first batch of high-tech turbines and compressors blocked by Siemens due to international sanctions was released and unloaded in Assaluyeh, Bushehr Province, on Friday. Hassan Bouyeri, director of South Pars phases 17 and 18, said the cargo, which the Oil Ministry had bought to upgrade its aging oil and gas facilities, consisted of seven sets of electro-compressors to be installed in the South Pars phases 12, 17 and 18 refineries, Shana reported on Sunday. ... See more
  • Japan Bank Resumes Normal Iran Business(02/26/2016)

    The Bank of Tokyo-Mitsubishi UFJ (BTMU), Japan’s largest bank, has resumed transactions with Iranian banks, including payments for Iranian crude oil bought by Japanese refiners, a company official told Platts. BTMU’s move follows the lifting of nuclear sanctions against Iran by the US and EU on January 16. This was followed by Japan lifting its key sanctions against Iran, including its ban on Japanese banks dealing with Iranian banks, on January 22. ... See more
  • Iran Expanding Flight Routes(02/24/2016)

    Figures released by the Trade Promotion Organization of Iran show that the member states of the Organization of Islamic Cooperation were the main destinations of Iran’s exports among all other international organizations during the nine months ending December 21, 2015. These states imported 29.16 million tons of goods worth $13.66 billion from Iran during the period, IRNA reported. ... See more
  • OIC Major Recipients of Iranian Exports(02/10/2016)

    Figures released by the Trade Promotion Organization of Iran show that the member states of the Organization of Islamic Cooperation were the main destinations of Iran’s exports among all other international organizations during the nine months ending December 21, 2015. These states imported 29.16 million tons of goods worth $13.66 billion from Iran during the period, IRNA reported. ... See more
  • Dutch Exports to Iran Grew 21% in 2015(02/10/2016)

    Dutch exports to Iran increased by 21% in 2015, ahead of the lifting of sanctions in January this year. The value of exports reached €450 million, placing Iran 64th in the ranking order of destinations. Medical equipment made up more than one-third of all exports, Dutch News cited data provided by Statistics Netherlands otherwise known as CBS. ... See more
  • UK Businesses Want to Enhance Iran Trade(02/08/2016)

    Lack of banking relations is British companies’ main concern for enhancing commercial relations with Iran, said Sirous Mehdizadeh, director of the British- Iranian Chamber of Commerce. “Banks in the UK paid the heftiest fines for doing business with Iran during the sanctions which has made them cautious in resuming ties with Iranians,” IRNA quoted him as saying on Saturday. ... See more
  • Iran, Japan Can Stop Crude Price Rally(02/08/2016)

    In the presence of sluggish demand and a persisting supply glut, global oil markets are likely to face continuous downward price pressure from decreased demand and additional supply coming from two countries: Iran and Japan. Iran’s pledge to return to the pre-2012 sanctions export levels of 4 million barrels a day by adding a million barrels of oil production is certainly going to exert further downward pressure on prices, Oil Price reported. Iran could be ... See more
  • Iran, Japan Sign Investment Pact(02/06/2016)

    Iran and Japan signed a bilateral investment pact on Friday aimed at giving Japanese firms a helping hand, as foreign competitors jostle for access to the resource-rich country. Japan's Foreign Minister Fumio Kishida signed the pact with Iran’s visiting Minister of Economic Affairs and Finance Ali Tayyebnia during a ceremony at the Foreign Ministry in Tokyo, The Japan Times reported. ... See more
  • FM: Commercial Ties With UK Can Resume(02/06/2016)

    ranian Foreign Minister Mohammad Javad Zarif said good economic and commercial relations could resume with Britain. “Iran and Britain have had traditionally good commercial and economic relations and I think those can resume,” Zarif said at Chatham House in London on Thursday. “We need to work together on moving the political relations forward ... See more
  • Global Stocks Snap Again(02/03/2016)

    World stocks dipped after a three-day run of gains and emerging markets were back under pressure on Tuesday, as a sharp drop in oil prices following lackluster economic data sparked renewed nerves.Oil struggled to steady, having fallen as much as 7% on Monday, and the glum macro mood sweeping back though markets saw European shares follow Asia deep into the red, Reuters reported. ... See more
  • ATR Plane Deal Finalized Services: (02/03/2016)

    CEO of French planemaker Airbus, Tom Enders, and chief executive of French-Italian light aircraft manufacturer, Patrick de Castelbajac, met Iran’s Roads and Urban Development Minister Abbas Akhoundi and board members of flag carrier IranAir in Tehran on Monday to finalize the deals for Iran’s purchase of new aircraft. ... See more
  • Ecuadorian Minister at ICCIMA (02/02/2016)

    To bolster economic relations between Iran and Ecuador, their respective chambers of commerce need to play a more significant role, said the head of Iran Chamber of Commerce, Industries, Mines and Agriculture. Mohsen Jalalpour made the statement in a meeting with Ecuador’s Minister of Exterior Commerce Diego Aulestia Valencia on Monday. ... See more
  • Cheap Feedstock Reducing Power Plant Efficiency (02/02/2016)

    In order to enter the international electricity markets, the price of natural gas as feedstock for power plants should be based on global gas prices, a deputy oil minister said on Monday. "Power plants' efficiency in Iran stands at 23% compared to that of the global average of 60%," Mansour Moazzami was quoted as saying by ISNA. ... See more

Top issue

Why Invest In Iran ?

With 1.65 million sq. km in surface, Iran is the 18th largest country in the world, and was the 2nd great economy in the MENA(Middle East and North Africa) in 2013 in term of GDP after Saudi Arabia, and in term of population (77 million) after Egypt.

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S.B.B. National Awards

  • p5
  • p6
  • p7

SBB Company in the last years had accelerated move to forward, and recieve top national awards in brokerage industry.

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