Economy

"Given the Business Secretary's focus on the steel industry, he (Javid) has decided to postpone his trip to Iran," a spokesman from the business department said on Tuesday as cited by Reuters. "He remains committed to exploring the opportunities for trade and investment with this emerging market and an alternative …

LNG exports, gas market cooperation and transfer of experience in the field of gas trade were the main topics of the letter of understanding signed between the National Iranian Gas Exports Company (NIGEC) and South Korea's Gas Corporation (KOGAS) on Monday, Platts reported. The agreement was signed during an ongoing …

Refiners in India took in 393,000 barrels per day (bpd) of Iranian oil in April, according to preliminary tanker arrival data from trade sources, Reuters reported. Part of India's recent resurgence in Iranian purchases comes from Reliance Industries, operator of the world's biggest refining complex, which in March took oil …

At a meeting attended by senior Iranian and South Korean officials in the Iranian capital on Monday, Woori Bank officially launched its office in Tehran, becoming the first South Korean commercial bank to start banking activities in the Islamic Republic. Gholamali Kamyab, the vice governor of the Central Bank of …

Germany has begun working closely with Iran to develop renewable energy strategies based on the successes and failures its policymakers have learned from its own Energiewende (energy transition), Power Magazine reported on Sunday. Germany’s government recently released a commissioned report titled “Enabling PV Iran,” which discusses opportunities offered by the …

“Oman Air will be adding another destination in Iran, happy to be flying to Mashhad soon,” the Omani airline announced in a post published on its Twitter account on Sunday, Times of Oman reported.   Oman Air had recently added a second daily flight to Tehran following a lasting nuclear …

Belgium’s KBC, Germany’s DZ Bank and Austria’s Erste Bank on Sunday unveiled their plan to start their business activities in the Islamic Republic, the Financial Times reported. KBC, Belgium’s biggest bank, said it had “decided to support its well-established customers in its home markets” of Belgium, the Czech Republic and …

Iran's oil and gas condensate exports are now at more than 2 million barrels per day, Shana news agency quoted Zangeneh as saying. Referring to the country’s massive South Pars gas project, the oil minister stressed that completion of the energy hub’s phases will be high on the ministry’s agenda …

The two 15,000 gt (Gross tonnage) general cargo ships are owned by IRISL (Islamic Republic of Iran Shipping Lines), the leading shipping company in Iran, the Maritime Standard reported on Sunday.  A classification society is a non-governmental organization that establishes and maintains technical standards for the construction and operation of …

With the gradual termination of anti-Iran sanctions, many Iranian and international banking professionals are keen on finding out the impact this will have on the current banking system and what kind of opportunities will soon be available for the benefit of both international organizations and domestic entities. The Iran International …