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November 24 2014
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Iran nuclear deal could spur rapid growth

- Companies and global investors are sizing up Iran's economic potential in anticipation of a deal that could end years of isolation. -CNN - 11/23/14

Two Futures: With An Iran Nuclear Deal, And Without

- As the six world powers and Tehran try to reach a deal in Vienna, there is more at stake than simply ending the crisis over Iran's nuclear program. Equally important is how the success or failure of the negotiations could set the stage for determining the West's relations with Iran for years to come. -Charles Recknagel, RFE - 11/21/14

Iran: Thousands rally against legislative attack on workers' rights

- Thousands of Iranian workers took part in a rally on Thursday November 20 organized by Tehran Manufacturing and Service Workers, protesting the government's attempts to change the country's employment legislation to the benefit of employers. - 11/21/14

Photos: International Air Show kicks off in Kish, Iran

- The Kish Development and investment company fully supported by Kish Free Zone Organization is holding the 7th edition of the International Iran Kish Air Show with the cooperation of Civil Aviation Organization of Islamic Republic of Iran (CAO-IRI) from 18-21 Nov. 2014 on Kish Island in Persian Gulf. - 11/20/14

IRNA: Iran to Hold Market Share Talks With Saudi at OPEC

- Iran's oil minister said he will talk with top oil exporter Saudi Arabia about market share when OPEC meets next week in Vienna, as Tehran plans for the possible end of sanctions and unfettered crude exports. -Reuters - 11/20/14

Iran allows private sector to import aircraft

- Iran Civil Aviation Organization Director Alireza Jahangirian announced that Iranian private entities are allowed to import aircraft. He made the remarks on the sidelines of the 7h International Air Show of Iran (Iran Air Show 2014), which is underway ON THE Persian Gulf island of Kish - 11/19/14

Iran's Kish Air Show: Investment Opportunities

- The 7th Biennial Kish Air Show opens on November 18 on the Persian Gulf Island. The 4-day exhibition is aimed at helping participants understand changes in the Iranian aviation industry, discover attractive business opportunities and meet new partners as well as competitors. - 11/17/14

Iran's wheat imports up 124% in 7 months

- Iran imported over 3.753 million tons of wheat in the first seven months of the current Iranian calendar year (March 21-October 22), a 124 percent rise compared to the same period in the previous year. - 11/17/14

Photos: Iran opens largest Middle East gold plant, doubling production

- First Vice-President Eshaq Jahangiri inaugurated the largest gold plant in the Middle East in Zareh Shuran of Takaab in West Azarbaijan Province on Saturday. With the operation of the plant the gold bullion production capacity in the country will be doubled and reach 5.5 tons. - 11/15/14

Energy agency sees lower oil prices continuing

- The latest estimate by the International Energy Agency, published on Friday Nov. 14, foresees that depressed oil prices on the international market will continue until 2015. The agency cites falling demand as the reason for the drop in oil prices. - 11/15/14

Stewarding the Deal: Business Diplomacy and Iran's Private Sector

- It's no secret that business leaders worldwide are eagerly awaiting the announcement of an agreement on Iran's nuclear program this month. "Apart from Mars and the Moon, Iran is the only remaining opportunity for [our] clients," declared Sir Martin Sorrell, the CEO of British advertising giant, WPP, last month at the Europe-Iran Forum in London. Business owners in Iran are meanwhile looking forward to sanctions relief and a flood of foreign investment, as are average Iranians. -Esfandyar Batmanghelidj - 11/14/14

NIAC Urges President Obama to Establish U.S.-Iran Banking Channel

- ith a potential nuclear deal only weeks away, the National Iranian American Council is urging that a direct banking channel be established between the U.S. and Iran. Such a channel would allow for humanitarian transactions, the sale of licensed goods like phones and computer software, and the transfer of personal remittances and inheritances between the U.S. and Iran. -Tyler Cullis and Jamal Abdi, NIAC - 11/14/14

Renault negotiating to buy stake in Iranian carmaker

- French carmaker Renault is negotiating with Iranian carmaker Saipa to acquire a stake in Saipa's subsidiary Pars Khodro, according to Majid Souri, the Saipa investment management director. - 11/12/14

Foreign insurance companies resume business in Iran

- The new round of activities by foreign insurance companies in Iran has started with Nasco Insurance Group of France opening its office in Tehran. The French insurance company this week hosted a number of activists from the private sector and those engaged in insurance industry. - 11/12/14

Iran divests state shares worth over $9.2b in 18 months

- Iran has transferred 300 trillion rials (about $9.2 billion) of shares of state-run companies to the private sector over the past one and a half years, Iran Privatization Organization Director Abdollah Pouri Hosseini said. - 11/11/14

Policy Memo: Establishing a Direct Financial Channel between the United States and Iran

- On the eve of a potential settlement to the Iranian nuclear dispute, the United States must be prepared to provide Iran the sanctions relief pledged it under a nuclear deal. Unwinding the sanctions will be crucial to ensuring that Iran upholds its commitments under a final deal and remains compliant with its nuclear non-proliferation obligations, while also setting the stage for the White House to pursue a broader opening to Iran. -Tyler Cullis, NIAC - 11/9/14

Iran slams EU's fresh bans against Iranian institutions, companies

- Iran has strongly condemned the European Union's latest move to impose fresh sanctions on a number of Iranian institutions and companies despite the ongoing negotiations between representatives of Iran, the US and the EU in the Omani capital, Muscat. - 11/9/14

Falling Oil Prices May Not Pressure Iran, Russia

- The global price of oil fell sharply in recent months, providing some benefits to consumers and putting economic pressure on exporting countries, including two that are involved in disputes with the West. But analysts say the impact on those two countries - Iran and Russia - may not be as great as some might expect. -Al Pessin, VOA - 11/8/14

Direct US-Iran banking channel could cement nuclear deal

- As nuclear talks enter a crucial period ahead of the Nov. 24 deadline, one of the incentives the Barack Obama administration is dangling before Iran is a direct banking channel between a US and an Iranian financial institution, Al-Monitor has learned. -Barbara Slavin, Al-Monitor - 11/6/14

German trade with Iran springs back to life

- German exports to Iran rose by 32.7 percent in the first eight months of 2014. Reuters reports that according to German statistics, exports to Iran from Germany reached 1.6 billion euros in the first eight months of 2014. - 11/5/14

American carmakers invited to Iran's Auto Expo

- Secretary of Iran's Second International Auto Exhibition Sasan Qorbani said Benz, Volkswagen, Volvo, Fiat and Skoda auto makers would take part in the Iranian auto expo, adding that the US car-manufacturers may also join the event. - 11/4/14

Iran's Culture Ministry Defends 'Successful' U.S. Presence

- Iran's Culture Ministry has defended the "successful presence" of an Iranian delegation in an October 28 conference in Pittsburgh that was reportedly also attended by State Department official Greg Sullivan. The conference, "Growing Business between the U.S. and the Middle East," was organized by the American Middle East Institute. -Golnaz Esfandiari, RFE - 11/4/14

Iran plans to double gas production by 2017

- Over the next three years, our plan is to increase production to 1 billion cubic meters (bcm) per day," Managing Director of National Iranian Gas Company (NIGC) Hamid Reza Araqi told Bloomberg. He added that Iran's daily gas output will increase to 680 mcm in winter, up from 550 mcm. - 11/4/14

12.000 European tourists register to visit Iran

- Head of Iran Tourism Operators' Association Ebrahim Pour-Faraj said 12.000 European tourists have registered for visiting Iran via Golden Eagle Danube Express. The luxurious train with 13 wagons can carry only 150 passengers, and it should arrive in Iran 80 times if it wants to bring all of the tourists to Iran. - 11/2/14

Iran looks at legislation protecting intellectual property

- President Hassan Rohani has presented to the parliament a bill to protect of intellectual property which includes artistic, industrial and scientific property. Iran is not a signatory to the Berne Convention and international copyright laws. - 11/2/14

Iran was OPEC's 3rd largest oil producer in first half of 2014: EIA

- Iran was the third-largest crude oil producer in the Organization of the Petroleum Exporting Countries in the first half of 2014, according to the U.S. Energy Information Administration. The largest buyers of Iranian crude and condensate are China, India, Japan, South Korea, and Turkey, the EIA stated. - 11/2/14

Iran advised to cut expectations for oil revenue

- The National Oil Company of Iran says the Iranian government should abandon scenarios based on oil selling for $100 a barrel and instead base its budget on a price of $70 per barrel. - 11/1/14

US Tech And Aerospace Companies Could Miss Out If Iran Sanctions Are Suspended

- "Iranians have by and large maintained good trade and economic ties with European countries," said Alex Vatanka, an Iranian analyst at the Middle East Institute. "Those connections are much easier to revive should sanctions be removed than for the American side, which needs to go out and recover 35 years of lost time." -Erin Banco, IBI - 11/1/14

U.S. firms eager to sell to Iranians after sanctions lifted

- Apple, Boeing and General Electric are prepared to officially enter the Iranian market as soon as international sanctions against the country are lifted. According to The Wall Street Journal, the three companies have already entered preliminary talks for offering iPhones and spare parts in Iran. - 10/31/14

How Much is Iran's Economy Recovering?

- Iranian President Hassan Rouhani could not wait for the quarterly Economic Trends report published by the Central Bank of Iran (CBI) to be issued. It showed that from March 2013 to March of this year, Iran's GDP increased by 4.6 percent. -Djavad Salehi-Isfahani, LobeLog - 10/31/14

Iran rises in World Bank Doing Business rankings

- The Doing Business 2015 report updates all indicators as of June 1, 2014, ranks economies on their overall ease of doing business, and analyzes reforms to business regulation - identifying which economies are strengthening their business environment the most. - 10/30/14

Iranian Entrepreneurs Make Pitches That Are Just Practice, For Now

- Imagine this: You have a great idea for an Internet startup. You're sure it will work. You are ready to be part of the global market. There's one big problem: You live in Iran, a country facing some of the most extensive financial sanctions imposed on any country in the world. -Deborah Amos, NPR - 10/29/14

Iran foreign trade value tops $57.214bn in 7 months

- Based on latest statistics of the Customs Administration's Public Relations Department, value of Iran's foreign trade reached $57.214 billion in the first seven months of the year. - 10/28/14

Iran to increase oil production capacity to 4.3m bpd

- Deputy Oil Minister Mansour Moazami said oil production capacity will increase to 4.3 million barrels per day in a near future, noting that by the yearned 100 million cubic meters will also be added to the county's gas production capacity. - 10/27/14

Cage fish farming in Caspian, catastrophic or beneficial?

- While some lecturers describe implementation of the plan for farming rainbow trout in cage in the Caspian Sea unprincipled and catastrophic for the environment, executive officials believe the plan is beneficial in creating job opportunities. - 10/27/14

Iran nuclear deal would open last big frontier stock market

- Years of economic sanctions and isolation have ravaged Iran's economy but created one of the last unexploited opportunities for international portfolio investors, who could start moving their money in this year if geopolitics permit. -Andrew Torchia, Reuters - 10/27/14

Decoding Iran's economic indicators

- In the past few weeks, there has been a major debate in Iran about the validity of economic data presented by the Central Bank of Iran (CBI) and government officials. It all started with a detailed report by the CBI stating that the Iranian economy grew by 4.6% in the 12-month period ending in spring 2014. -Bijan Khajehpour, Al-Monitor - 10/24/14

Iran, Russia to open new chapter in trade ties

- Iran and Russia are considering possibilities of opening a new chapter in their trade relations, with experts saying the new measures could break the domination of Western currencies over bilateral exchanges, Press TV reports. - 10/22/14

Iran, Armenia to form joint commission to boost trade ties

- The Armenian prime minister arrived in Tehran on Monday to discuss bilateral ties and the latest regional and international developments with high-ranking Iranian officials. A host of topics, particularly energy issues, is slated to be discussed during the two-day visit of the Armenian prime minister. - 10/21/14

Over 800 firms participating in 2 international trade fairs in Tehran

- Two international trade exhibitions were inaugurated on Friday at the Tehran Permanent International Fairgrounds. Over 800 Iranian and foreign firms are participating in the exhibitions. - 10/18/14

Explainer: The Oil Price Plunge

- In the past several days-despite the conflicts affecting Iraq, Syria, Iran and Russia-oil prices have been on a downward trend, hitting their lowest number in the past four years. As of October 2014, oil prices are more than 20 percent lower than June. -Sara Vakhshouri, LobeLog - 10/17/14

Iranian investment scene 'improving' as relations thaw

- International investors looking to exploit opportunities in Iran have been meeting for the first time in concert since the country's 1979 revolution. Hundreds of people gathered at The 1st Europe-Iran Forum in London to hear from the likes of former foreign secretary Jack Straw and meet members of Iran's top business families. -hilip Hampsheir, BBC - 10/17/14

1st Europe-Iran Forum kicks off in London

- With the prospect of improved political relations and a new business climate between Europe and Iran, the 1st Europe-Iran Forum kicked off in London Wednesday morning. The two-day event, organized by European Voice aims to "properly prepare and evaluate the post-sanctions trade framework and investment opportunities", according to a brochure released by the organizers. - 10/16/14

Falling Oil Prices Spell Trouble For Some, But Could Also Boost Global Growth

- Suddenly, the world seems to be awash in oil, with benchmark Brent crude that sold for $110 a barrel in June dropping to under $88 a barrel on October 13. That's a 20 percent price plunge and one that bodes serious economic trouble for countries whose revenues depend heavily on their oil exports. -Charles Recknagel, RFE - 10/15/14

Why President Rouhani's "Economic Package" is Empty

- Tired of the oppressive financial hardship, wrought largely by the imperialist economic war against Iran, the Iranian people elected Hassan Rouhani president (June 2013) as he promised economic revival. He premised his pledge of economic recovery mainly on his alleged ability to bring the brutal sanctions against Iran to an end and integrate the Iranian economy into the world capitalist system. -Ismael Hossein-zadeh - 10/14/14

Iran oil price cut nothing to do with rivalry with Saudi Arabia: NIOC

- In a recent report, Bloomberg reported that Iran has slashed its crude prices in an attempt to attract Asian customers following Saudi Arabia's decision to cut its oil price to the lowest level since 2008. - 10/13/14

Iran needs to create 8 million jobs in near future: Finance Minister

- Iran's minister of finance and economic affairs says that the administration of President Hassan Rouhani has made the task of creating jobs one of the core pillars of its new economic policy package. In recent remarks, Ali Tayyebnia said that one of the main policies of the government of prudence and hope is to create jobs. He also added that 8 million jobs need to be created in the near future. - 10/12/14

Iran to invest $220m in 30 tourism projects

- Iran's Cultural Heritage, Tourism and Handicrafts Organization will invest 7 trillion rials (about $220 million) to implement 30 projects to promote tourism in the country. The investments will be made to build hotels, guest houses, and accommodation camps across the country - 10/12/14

US: 'Severe Penalties' if Europe-Iran Forum Violates Sanctions

- WASHINGTON- A State Department official said an upcoming Europe-Iran business conference, the first gathering of its kind, underscores to Iran the great benefits of reaching an agreement with world powers on its nuclear program, as well as the cost of failing to do so. - 10/11/14

Iran's jobless rate dropped to 9.5% in summer

- Iran's jobless rate reached 9.5 percent in summer, the Statistical Center of Iran reported. The center put the number of unemployed people at 2.257 million - 10/11/14

Investors: Absent sanctions, "no emerging market has as much potential as Iran"

- Washington, DC - "Iran is going from an emerging [economy] to a developing economy. What's missing from Iran making that leap is connectivity with the West," said Bijan Khajehpour, a strategic analyst and entrepreneur, while speaking on a panel regarding the business implications of a nuclear deal at NIAC's 2014 Leadership Conference. - 10/11/14

Accused Iranian tycoon's location unclear to investigating team

- The committee established to follow up on the charges against Iranian tycoon Babak Zanjani, who's accused of failing to pay back trillions of toumans he owes to Iran's oil ministry, says it is not certain whether Zanjani is in prison. - 10/10/14

IMF projects 2.2% GDP growth for Iran in 2015 amid global economic slowdown

- In its World Economic Outlook for the month of October, the International Monetary Fund has projected 2.2% real GDP growth for the Islamic Republic of Iran in 2015, dropping it from the 2.3% that was predicted in its April report. - 10/9/14

Eni ranks Iran 2nd in gas exports in 2013

- Iran was ranked second in 2013 among natural gas exporters, pumping 128.08 billion cubic meters of gas abroad, the Italian energy company, Eni, said in a report (World Oil and Gas Review 2014) published Monday. - 10/8/14

EU sanctions on Iran oil tanker firm annulled

- The European Union's sanctions against Iran's main oil tanker firm, the National Iranian Tanker Company (NITC), have been annulled. In July, the Luxembourg-based General Court ruled there were no grounds to blacklist the NITC in the bloc after the company contested the designation. The EU did not appeal the decision. - 10/8/14

Can Technology Bridge the Schism of Politics?: What a Berkeley event says about the power of diasporas and technology

- The Bridge 2014 gathering on "High-Tech Entrepreneurship in Iran," held at the Wheeler Auditorium of the University of California at Berkeley on the first Saturday of September, broke new ground on multiple fronts. It drew seven hundred people from across the U.S. and internationally. Over a dozen leading academics and entrepreneurs came from Iran itself... -Alidad Mafinezam - 10/6/14

Iranian ecommerce thrives despite obstacles

- High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/e44136e6-3cdb-11e4-9733-00144feabdc0.html#ixzz3EzQTsmrG When brothers Hamid and Saeed Mohammadi founded online retailer Digikala in 2007 they had capital of $20,000, an office in a small apartment in Tehran and a couple of engineers on the payroll. Now the company controls about 85 per cent of Iran's online retail market and leads the country's ecommerce sector -Najmeh Bozorgmehr, Financial Times - 10/2/14

Is Iran facing a liquidity crisis?

- Amidst some positive news on the economy, the business community is growing aware of the enormous downside risks on the horizon as nuclear talks again come to a head. Our exclusive sources reveal the severity of the situation, with Iran facing a potential liquidity crisis and a perfect storm in the financial sector if hope of sanctions relief is permanently lost. -VerityIran - 10/2/14

Iran's Non-Oil Trade Up 44 Percent In 6 Months

- Iran's total non-oil trade hit $49.69 billion in the first half of the current Iranian calendar year (March 21-September 22), a 44 percent rise compared to the same period in the previous year. - 9/29/14

Iranian Women Unemployment Rate at 43.4 Percent

- Women's unemployment rate in the last eight years reached 43.4 percent, according to the latest report released by the Statistical Center of Iran. Although it has been years since women are working outside home, job opportunities for women have been restricted by the male-dominated society and unjust competition. - 9/28/14

Iran's inflation rate has dramatic fall

- Iran's Central Bank says the inflation rate has been cut in half compared to the same time last year, falling to 20.1 percent. The report adds that health services have been hit with the highest inflation at 30.1 percent, with transportation trailing at 25 percent. - 9/27/14

Iran economy attains positive growth after two years

- The Central Bank of Iran (CBI) says country's economy has attained positive growth for the first time in two years. New figures released by the CBI on Thursday show the economy expanded 4.6 percent in the first quarter of the current Iranian calendar year (started March 21, 2014). - 9/26/14

EU Plans for Iran Gas Imports If Sanctions Go

- The European Union is quietly increasing the urgency of a plan to import natural gas from Iran, as relations with Tehran thaw while those with top gas supplier Russia grow chillier. -Reuters - 9/25/14

Iran ready to supply Europe gas via Austria: President Rouhani

- Iranian President Hassan Rouhani says the Islamic Republic can be a reliable supplier of energy for Europe, adding that Tehran is ready to transfer gas to the European countries via Austria. The Iranian president made the remarks in a Tuesday meeting with his Austrian counterpart Heinz Fischer in New York on the sidelines of the 69th UN General Assembly meeting. - 9/24/14

Caspian Sea is not the sea of peace: On the occasion of the 4th Summit of Caspian Leaders

- Leaders of the Caspian Sea littoral states keep talking about the peace and security in the Caspian Sea. They even signed a security agreement in the Third Summit of the Caspian States (Baku, Azerbaijan Republic, 18 November 2010). But the reality is that the Caspian Sea is not as peaceful as it looks. -Bahman Aghai Diba - 9/23/14

EU court rescinds Iran central bank sanctions

- A top European court has struck down restrictions imposed by the European Union against the Central Bank of Iran (CBI) on an alleged charge of circumventing US-led sanctions against the Islamic Republic. - 9/19/14

Private homes in Iran hold more gold than Central Bank

- The lack of a clear outlook on the Iranian economy has led Iranians to store large quantities of gold in their home, and recent reports indicate that the amount of gold stored in homes now exceeds the amount in the Central Bank. - 9/13/14

Iran, Russia call for promotion of bilateral relations

- Iranian President Hassan Rouhani and his Russian counterpart, Vladimir Putin, met Friday on the sidelines of the summit of the Shanghai Cooperation Organization (SCO) in the Tajik capital to discuss issues of mutual interest as well as regional and international developments. - 9/13/14

China seeks expansion of strategic ties with Iran: Xi

- In a Friday meeting with Iranian President Hassan Rouhani in the Tajik capital, Dushanbe, Xi underscored the Islamic Republic's significant position in the region and the entire world, saying Beijing seeks to promote "strategic" ties with Tehran. - 9/13/14

Iran-Russia trade could jump tenfold in 2 years: Iranian Oil Minister

- Iranian Oil Minister Bijan Namdar Zanganeh says Iran and Russia can increase bilateral trade by tenfold over the next two years. On Tuesday, Zanganeh and Russian Energy Minister Alexander Novak signed an agreement in Tehran to expand cooperation in the areas of industry, mining, trade, agriculture, tourism, modern technology, and energy. - 9/11/14

IMF sees jobless rate rising in Iran

- The International Monetary Fund (IMF) has predicted that the unemployment rate in Iran will rise to 14.65 in 2015, the Tasnim News Agency reported on Sunday. IMF said Iran's unemployment rate stood at 12.93 percent in 2013, while the figure is forecast to reach 14.01 percent in 2014. - 9/11/14

Iran: Minister warns of ballooning unemployment

- Iran's Labour Minister is sounding an alarm about the rising rate of unemployment, warning that if the current trend continues, the country could have 10 million unemployed workers within seven years. - 9/10/14

Oil prices suffer steady decline

- Oil prices have fallen below $100 a barrel for the first time in the past 14 months. Reports on Monday September 8 indicate that Brent North Sea Crude oil is now priced at $99.95 a barrel. - 9/10/14

Iran sees no limits to expansion of economic ties with Russia: Oil Minister

- Iran sees no limits to expand economic ties with Russia, Iranian Oil Minister Bijan Namdar Zanganeh said. Iran and Russia will hold their 11th joint economic committee meeting in Tehran on September 9-10. - 9/7/14

Germany, EU's leading exporter to Iran: Eurostat

- Germany was the leading exporter of goods to Iran among the EU nations in June 2014, according to the EU statistics agency Eurostat. The European country exported 207 Euro million of goods to Iran in June 2014, an 88 percent rise compared to June 2013. - 9/2/14
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