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November 25 2015
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After summit in Tehran, GECF urges cooperation over market issues

- A landmark summit of the Gas Exporting Countries Forum (GECF) wrapped up in Iran's capital Tehran on Monday evening. The GECF member states at the end of the summit issued a declaration that underscored the need to facilitate stronger cooperation over a series of industry issues including the transfer of expertise and pricing mechanisms. - 11/24/15

Nuclear accord paves way for importing Persian rugs into U.S. again

- The earthy smell of silk and wool fills a showroom piled waist-high with thousands of hand-woven rugs, some of them centuries old. It is a familiar scent, one that links this Westwood shop to Tehran's bazaars nearly 8,000 miles away. -Sarah Parvini, Los Angeles Times - 11/24/15

GECF summit opens in Tehran

- A landmark summit of the Gas Exporting Countries Forum (GECF) has opened in the Iranian capital Tehran with the participation of the heads of nine member states. Presidents of Iran, Russia, Venezuela, Iraq, Bolivia, Equatorial Guinea, Nigeria, Turkmenistan as well as the Algerian prime minister are the key participants. - 11/23/15

Russia eyes $21 billion deals as Putin visits Iran

- As President Vladimir Putin arrives in Tehran on Monday, Russia looks to secure export deals worth $21 billion with Iran which is about to walk free from a web of Western sanctions soon. - 11/23/15

Turkmenistan-Iran trade to rise to $60 billion

- Iran and Turkmenistan have decided to raise their annual trade to $60 billion over the next decade, President Hassan Rouhani says. The Iranian president on Sunday received his Turkmen counterpart Gurbanguly Berdimuhamedov in Tehran where heads of states of several countries are descending for the most high-profile summit of gas exporting countries. - 11/22/15

US conglomerate General Electric sees opportunities in Iran

- GE Oil and Gas, the US conglomerate General Electric's oil division, says it sees opportunities in Iran as foreign firms are holding their breath for a lifting of sanctions to return to the country. - 11/22/15

Comeback for Iranian Caviar

- Foodies rejoice: Iranian caviar might be back on store shelves once again. Thanks to the recent nuclear deal between Iran and the United States, trade sanctions imposed on the Gulf state are beginning to lift, including one that banned the import of the delicate salt-cured sturgeon eggs that are synonymous with luxury. -Danny Lewis, Smithsonian Magazine - 11/22/15

Iran banks unprepared for post-sanctions world

- Iran knows full well that the end of international sanctions will only translate to more foreign trade and investment if major global banks re-connect with the Islamic republic. But of all foreign companies, banks are the most reluctant to resume relations with Iran. -Amir Paivar, BBC - 11/22/15

Gas-rich nations meet in Tehran ahead of summit

- An extraordinary meeting of gas exporting countries has begun in Tehran ahead of a Monday summit which will gather several leaders, including Russian President Vladimir Putin, to discuss issues related to gas production, exports and pricing. - 11/21/15

Behind the veil: a glance at Iran's leading app store

- Heard of Cafe Bazaar? I doubt it rings a bell unless you're in the Middle East or keeping tabs on trends in emerging mobile markets. It's the third-party app store that runs the show in the Islamic Republic of Iran. -Amir-Esmaeil Bozorgzadeh, Venture Beat - 11/20/15

Frankfurt hosts Iran investment confab

- A high-profile conference has started in Germany's Frankfurt to look into the prospects for investments in the Iranian economy. Dubbed 'Business Forum Iran-Europe', the two-day conference is to explore business opportunities in post-sanction Iran. - 11/19/15

Russia may produce Sukhoi Superjets in Iran

- Russian officials say the country is negotiating with Iran over the local production of the Sukhoi Superjet 100 (SSJ 100) airliner to replace the ageing Iranian fleet on regional routes. - 11/19/15

Obama says no more reductions of Iran oil purchases

- US President Barack Obama emphasized on Wednesday that Washington will not seek future reductions of oil purchases from Iran and is committed to keep Tehran's oil export at the levels of 2013. - 11/19/15

Iran, the Next Startup Hub? An Interview with Tehran's Millennial Ecosystem Insiders

- Silicon Valley, Miami, New York, Austin. These are places we typically think of when we think of startup ecosystems. On the international scale, Latin America has been a trending topic for startup news lately as well. But, there is another potential key player we may not be as familiar with. -Elnaz Moghangard, Huffington Post - 11/19/15

Growth, Energy and Climate: a View From Iran

- For the past several months most Iranians have been caught up in a "wait-and-see" collective mindset. Below the surface, in the murky shadows, movement can be detected amongst gigantic coiled up springs waiting for the starting gun. These gargantuan springs come in many shapes and forms. -Daryan Rezazad, Counterpunch - 11/19/15

Iran to host 9 heads of state in GECF summit: Oil Minister

- Iran's oil minister says the Islamic Republic will be hosting nine heads of state and a large group of other dignitaries during the third summit meeting of the Gas Exporting Countries Forum (GECF). - 11/18/15

Sweeping arrests target Iranian officials accused of corruption

- Six Sistan-Baluchistan government officials were arrested last week. ISNA reports that the deputy head of the Chabahar Free Zone and five others were arrested, and the Zahedan Prosecutor General Mohammad Marzieh said: "These individuals were arrested last Tuesday in coordination with the provincial capital court." - 11/17/15

Iran's economic growth to outperform MENA states: Report

- Iran's economic growth will outperform most of the Middle East and North Africa (MENA) countries in 2016 when sanctions are lifted, a Washington-based finance industry body says. Iran will post a growth increase of about six percent next year up from 1.4%, the Institute of International Finance (IIF) said in a report. - 11/16/15

Panel at TMT Finance World Congres: Iran Telecoms Opportunities

- The upcoming TMT Finance World Congress & Awards 2015 in London will be featuring a panel on "Iran Telecoms Opportunities." TMT Finance World Congress will featuring over 60 key speakers and 20 sessions on TMT Growth Strategies, Mergers and Acquisitions, Investing in Infrastructure and Innovation, Raising Finance, Media and Content,Spectru, Broadband, Datacentres, Mobile Towers, Unified Communications, Smart Cities and IoT. - 11/16/15

Wisconsin lawmakers propose ban on Iran business

- Republican lawmakers in the US state of Wisconsin have introduced a bill that would prohibit business with Iran. They say the measure would help blunt President Barack Obama's nuclear accord with the Islamic Republic. - 11/16/15

Iran lines up $25 billion energy investment

- Iran has put together a package for $25 billion of investment in its booming power industry which is key to the country's economic recovery, head of Iran Power Transmission, Generation and Distribution Company (Tavanir) says. - 11/15/15

Iran: Economy of Resistance and resistance of the centers of corruption

- While the right-wing factions of the Islamic Republic step up their opposition to the Rohani administration, and as the Revolutionary Guards directly oppose the so-called "economic infiltration", Iran's Supreme Leader has chosen to neither endorse or oppose the administration's "Resistance Economy policies action plan". He has, however, recommended four items to be kept in mind while drawing up future plans for economic development. - 11/14/15

Iran's Position on the Arms Trade Treaty

- The "axis of evil" club portrayed by George W. Bush in 2002 no longer exists. Iran has now famously exited from the group leaving bad boy Kim Jong Un all alone. But the two countries still share something in common. In March 2013, North Korea and Iran, both of whom are under UN arms embargoes, alongside Syria, blocked adoption of the Arms Trade Treaty (ATT) during the treaty drafting conference. -Emma Scott - 11/14/15

Iran signs second gas deal with Iraq

- Iran has signed a new contract with Iraq to export natural gas to the country's southern port city of Basra. Based on the contract, Iran will pipe a daily of 20-25 million cubic meters (mcm/d) of gas for Basra for a period of six years. The supply - that will increase to 45-60 mcm/d in a later stage - will be used to feed the main power plant of the city. - 11/12/15

France urges US guarantees for Iran trade

- French Foreign Minister Laurent Fabius has urged the US to give concrete guarantees that it will not penalize European companies for trade with Iran after sanctions are lifted on Tehran. Sectary of State John Kerry has said European firms would not be subject to penalties when sanctions are lifted but European governments want assurances that any new trade would be safe if the measures were re-imposed. - 11/11/15

Iran unveils long-awaited oil contracts

- Iran's Ministry of Petroleum publishes the new framework of oil and gas contracts which will be presented formally to foreign companies in a conference in Tehran later this month. The Iran Petroleum Contract (IPC), published on the website of the ministry's Shana news agency, was given the go-ahead by the government for implementation. - 11/11/15

Sukhoi sees Iran order for 100 Superjets

- Russia's Sukhoi Civil Aircraft Company (SCAC) says it sees Iran as a potential customer with a big order for its Superjet 100 (SSJ 100) planes. The company's head Ilya Tarasenko said the jet manufacturer could deliver about 100 Superjets to Iran after sanctions were fully lifted on the Islamic Republic. - 11/9/15

Interest rate reduction meant to stimulate Iran'a lagging economy

- Iranian media report that public and private banks have agreed to reduce interest rates by two percent. The Coordinating Council of Public and Private banks announced that the interest on a one-year deposit will be reduced to 18 percent from 20 percent. - 11/8/15

Iran offers loans to car buyers, factories to spur economy

- Iran's central bank and the Ministry of Industry, Mine and Trade announced that starting next week, they will offer loans to auto buyers. In addition, they announced loans will be offered to Iranian manufacturers. - 11/7/15

Iran Bans Import, Distribution Of U.S. Goods

- Iran's Commerce and Industry Minister Mohammad Reza Nematzadeh said in a directive that it is necessary "to stop entry of American consumer goods and to prohibit products that symbolize the presence of the United States in the country." The language of the directive suggests it does not apply to the private sector. - 11/6/15

Iran's 6-month imports from U.S. stands at $37M

- Iran imported 19,700 tons of products worth over $37 million from the U.S. in the first half of 2015, according to the Trade Promotion Organization of Iran (TPOI). The TPOI released a list of 119 products, mostly consisting of chemical raw materials, medicine, medical equipments and some other goods that are not produced in Iran, according to the IRNA news agency. - 11/5/15

Iran Closes 'KFC Branch' In Tehran

- Iran has shut down what officials reportedly thought was a branch of the U.S. fast food chain KFC. Iranian media reported that the restaurant, called Halal KFC, opened on November 1 in Tehran only to close a day later. - 11/4/15

Russia, Iran plan Caspian oil, gas swap

- Russia and Iran plan oil and gas swap as part of their new push to step up trade which is relatively minuscule compared with their strong political ties. Representatives of a major Russian energy company will arrive in Tehran soon for discussions on swap of crude oil, oil products and gas, Iran's Deputy Petroleum Minister Amir Hossein Zamaninia said on Monday. - 11/3/15

Iran Khodro: Peugeot yielded to all demands

- PSA Peugeot Citroen, which faces a backlash from its abrupt pullout from Iran in 2012, appears to have coaxed Iran Khodro into reviving their historic partnership. Iran was Peugeot's second largest market before the French automaker left the country in breach of contract, idling a massive assembly line which manufactured vehicles from kits of parts. - 11/2/15

Iranian-American Executive Arrested in Iran

- Iranian security forces have arrested an Iranian-American businessman who had promoted improved ties between the two countries, adding to signs that hard-liners in Tehran are trying to block foreign investors from entering the Islamic Republic in the wake of the historic nuclear deal. -Farnaz Fassihi and Jay Solomon, WSJ - 10/31/15

Iran to implement blockade on US goods

- Iran's Ministry of Industry, Mine and Trade says it will block imports of American goods in line with an order by Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei to develop an "economy of resistance". - 10/31/15

'Iran's Amazon' disregards post-sanctions competition, looks to expand

- Iranian twins Hamid and Saeed Mohammadi created online retailer Digikala after struggling to buy a digital camera and ending up with a counterfeit. Eight years later "Iran's Amazon" says it employs 900 people and processes 10,000 orders a day. -Reuters - 10/30/15

How The MIT Of Iran Helps Create Silicon Valley Startups

- If Iran abides by the terms of the nuclear deal that call for inspections and a reduction in its nuclear infrastructure, economic sanctions in place since the Revolution in 1979 could begin to lift early next year. What many people don't realize, though, is the extent to which Iranian immigrants have long been a force in the U.S. economy, especially in the tech sector. -Elizabeth MacBride, Forbes - 10/29/15

Iran's inflation rate falls to 14.8%: CBI

- Central Bank of Iran (CBI) has announced that the inflation rate for the 12-month period ended the seventh Iranian calendar month of Mehr (September 23-October 22) dropped to 14.8 percent compared to the same period of time last year. - 10/29/15

Persian rugs back in US in early 2016: Iranian Official

- Head of Iran National Carpet Center (INCC) expects direct exports of Persian rugs to the US to resume early next year, returning the key producer of hand-knotted floor coverings to the market which has been overtaken by India. A delegation of American merchants will visit Iran to revive trade in Persian carpets, Kargar said. - 10/29/15

Iran's Man in New York Is Hunting for Billions of Dollars

- Iran, by its own admission, needs $150 billion of investment annually for many years ahead to repair the damage from a decade of isolation. That's a tall order for a country that, even when sanctions are finally lifted, will still be an opaque and scary place to most foreign investors. Enter Hamid Biglari. -Kambiz Foroohar, Bloomberg - 10/29/15

Iran talking to six countries to buy aircraft

- Iran is in talks with six countries, including Brazil, for purchase of new commercial aircraft to renovate the country's aviation fleet after the removal of sanctions, an official says. Executives of plane manufacturers from France, Brazil, Canada, Russia, Japan and China have traveled to Iran and introduced their products, Secretary of the Association of Iranian Airlines Maqsoud As'adi-Samani said. - 10/28/15

Iran firms ditch Chinese for Europeans

- Iran's petrochemical manufacturers are turning to the Europeans to get finance for new projects, ditching Chinese investors who are charging high commissions and fees. So far, two petrochemical entities have abandoned plans to source funds from the Chinese and decided to use European finances instead, director of projects at the National Petrochemical Company (NPC) Marzieh Shah-Daei said on Tuesday. - 10/27/15

This ex-Deutsche Bank tech expert quit his job to risk everything on Iran's coming economic boom

- Xanyar Kamangar, who left his investment-banking job at Deutsche Bank to start Iran's first private-equity firm able to take foreign investment, wants to be ready for when it happens. -Business Insider - 10/27/15

Iran to export wheat for first time

- Iran will export wheat for the first time after wrapping up guaranteed purchases of the strategic crop from local farmers for the current harvest year, a senior official says. The State Trading Corporation of Iran (STC) plans to put out 400,000 metric tons of durum wheat for exports, STC Managing Director Ali Qanbari said. - 10/26/15

Iranians Irked By Reports That Burger King Could Open In Iran

- Iranians were irked by reports that Burger King registered to open in Iran, with some bashing the news as a sign of America's creeping capitalism and others joking that "soon, Jack Daniels and Smirnoff will enter the market." -Gilad Shiloach, Vocativ - 10/26/15

Iran, Russia design package of projects worth $25-$35 billion

- Iran said on Thursday that it has devised a package of joint projects with Russia, adding that the total value of the projects stands at $25 billion to $30 billion. Mahmoud Vaezi, Iran's minister of communications and information technology, told reporters after a meeting with the visiting Russian Energy Minister Alexander Novak that the projects will give a significant boost to the volume of trade between Tehran and Moscow. - 10/23/15

Microsoft, Other US Tech Companies Preparing To Invest In Iran

- Officials in Tehran said on Wednesday that Microsoft as well as several other leading US tech enterprises are preparing to enter the Iranian market in the near future. The announcement was made by Rouhollah Estiri, the director general for international business affairs of the Directorate for Science and Technology Affairs of Iran's Presidential Office. - 10/22/15

Iran to award electric rail plan to Russia

- Iran said on Thursday that it plans to award a project worth $1.2 billion to Russia to establish an electric train service to connect the north to a key city east of capital Tehran. Abbas Akhundi, Iran's minister of roads and urban development, told reporters that the train service will start in Garmsar in eastern Tehran and will lead to the border town of Incheh Borun in the northeastern Golestan province. - 10/22/15

Iran, Russia agree to establish joint bank

- Iran and Russia on Thursday agreed to establish a joint bank in a bid which is meant to facilitate financial transactions between the two countries. The agreement was announced by the Central Bank of Iran (CBI) which said it was reached during a meeting between the visiting Russian Energy Minister Alexander Novak and CBI chief Vaiollah Seif. - 10/22/15

Iran's telecom thrills European investors

- Two leading European companies are set to buy stakes in Iran's biggest cellular operator, Mobile Telecommunication Company (MCI), its head Vahid Sadouqi says. MCI, better known as Hamrah-e Aval to Iranians, dominates 70% of the telecom market share in the country of 80 million and is listed worth over $4.3 billion on the country's benchmark Tehran Stock Exchange. - 10/20/15

Italy's Eni and France's Total ready to return to Iran

- Eni's Chief Upstream Officer Antonio Vella told an energy forum in Tehran that the company plans to use the latest technologies in Iran's oil projects, stressing that this is crucial in decreasing the project costs. Another European oil major - France's Total - also announced at the same forum in Tehran on Monday that it is ready to provide the loans required for the development of Iran's oil sector projects - 10/20/15

Obama Orders US to Prepare to Lift Sanction on Iran

- President Barak Obama Sunday ordered the U.S. government to start preparing to lift sanctions against Iran on what was called Adoption Day -- the day all parties who signed the nuclear deal in July take the first steps towards implementing it. -Pamela Dockins, Ken Schwartz, VOA - 10/19/15

Iran Preparing For 'Tsunami' Of Tourists

- Iran's vice president says his country is preparing for a "tsunami" of foreign tourists after a historic nuclear deal that will lift sanctions on the country is implemented in the coming months. Iran -- which is home to 19 UNESCO-listed sites -- will soon unveil an investment package to attract foreign investment and boost tourism, which has suffered under international sanctions. - 10/19/15

Iran unveils stimulus package to lift economy

- The Iranian government has unveiled a policy package to stimulate the stagnant economy through higher investment in production and boosting consumer spending. -The measures are envisaged for a duration of six months in the run-up to the lifting of sanctions. - 10/18/15

EU to announce end to Iran sanctions Sunday: Report

- The European Union will announce on Sunday the formal end to economic sanctions on Iran, a European news agency says. Citing Western diplomatic sources, the Agence France Press said Saturday the decision will take effect around the end of the year. - 10/17/15

Changing Course on Economy in Iran

- A year after declaring the recession over, President Rouhani conceded earlier this week that the economy may experience negative growth this year and promised to unveil a new set of policies to prevent the recession from becoming a double-dip. -Djavad Salehi-Isfahani - 10/16/15

Russia's Energy Minister Novak due in Iran for important visit

- Russian Energy Minister Alexander Novak will visit Iran on Oct. 21 at the head of a large economic delegation to discuss expansion of bilateral trade. In Tehran, Novak will meet Iran's Minister of Petroleum Bijan Zangeneh and other officials as the two countries seek to increase bilateral trade to $10 billion a year from $2 billion at present. - 10/16/15

President Rohani Tells Iranians To Expect Economic Boom

- Iranian President Hassan Rohani says his country will face new conditions once the sanctions are removed, which he suggested could happen in the coming months. Rohani spoke several hours after Iran's parliament approved an agreement reached in July with world powers that significantly limits Tehran's nuclear activities in exchange for sanctions relief. - 10/14/15

Iran plans $25 billion rail investment splurge

- Iran has chalked up a plan for $25 billion of investment to modernize and expand its rail network, Managing Director of the Islamic Republic of Iran Railways Mohsen Poursaeed-Aqaei says. The country is courting investors with a number of incentives as it seeks to turn into a regional transportation hub by establishing a railway corridor linking the Persian Gulf and the subcontinent to the Central Asia and beyond. - 10/13/15

Iran's digital start-ups signal changing times

- Western business people returning to Iran in the wake of the nuclear deal may be surprised to find plenty of entrepreneurial drive from a new generation of online start-ups, which have appeared despite years of international sanctions. -Hossein Sharif, BBC - 10/12/15

U.S. Warns Against Rush To Invest In Iran Before Sanctions Lifted

- Reuters is reporting that the Obama administration has privately reminded foreign governments and U.S. bankers that sanctions against Iran remain in effect and they should not rush to invest in Iran. - 10/10/15

Iran to launch over 50 new oil projects

- Iran says it plans to introduce above 50 new oil projects to international investors in what will be a key section of the country's plans to boost oil production in an emerging post-sanctions era. - 10/8/15

Iran to seal deal with Mercedes-Benz soon

- Gholam-Reza Razzazi, the managing director of Iranian Diesel Engine Manufacturing (IDEM), told reporters that the cooperation with Mercedes-Benz will specifically involve the production of Arna mini-trucks as well as Arian mini-buses - both IDEM's upcoming products. - 10/8/15

IMF: Iran accord to lift Mideast economy

- The International Monetary Fund (IMF) says the Middle East and North Africa are set to benefit from Iran's nuclear agreement, lifting economic growth in the region next year. In its biannual World Economic Outlook, the IMF said growth will "pick up substantially in 2016, supported by accelerated activity in the Islamic Republic of Iran" which is the Middle East's second largest economy. - 10/7/15

Report: Iranians can buy from Amazon, Ebay

- Iranians can now make online shopping from major retailers Amazon and Ebay through a delivery channel established by the Iran Post Company, its managing director says. - 10/7/15

The Entrepreneur Behind Iran's Billion-Dollar Super Mall

- On the outskirts of Iran's historic city of Isfahan, one of the largest shopping malls in the Middle East has taken shape. -Golnar Motevalli, Bloomberg - 10/7/15

Accused Iranian tycoon pledges payback of "Oil Fraud" proceeds

- Judge Salavati announced at the beginning of the October 5 session that the foreign lawyers of Babak Zanjani have provided a draft of an unconditional commitment to pay off all the money owed to the National Iranian Oil Company. - 10/6/15

Iran, its Youth and the Tech Start ups

- "Iranians are just like the Israelis, very entrepreneurial", says Parsha Ghaffari CEO and founder of an Artificial Intelligence startup, Aylien. Parsha Ghaffari, an Iranian youth who launched his startup venture in Ireland represents the youth of contemporary Iran. -Snehal Manjrekar, Market Express - 10/6/15

Trendy Tehran: Meet the female entrepreneurs breaking boundaries in Iran

- Mahsa Rezazadeh started her cafe in Tehran seven years ago and now brings in a better wage than her husband, a lawyer. She attributes her success amid a sanctions-shattered Iranian economy to hard work and the fact that however bad things get in Iran, Iranians cannot resist the smell of a home-cooked meal and freshly brewed coffee. -Maryam Babak, International Business Times - 10/5/15

Trial starts for Iranian tycoon accused of keeping oil proceeds

- Iranian tycoon Babak Zanjani went on trial on Saturday for embezzlement charges involving the sale of oil. ISNA reports that Zanjani was brought to court under strict security measures on Saturday October 3, adding that his lawyer and two sisters were present in court. - 10/4/15

Four Iranian Ministers Warns President Of Looming Economic Crisis

- The Mehr News Agency reported on Sunday September 4 that the ministers of the economy, industry, labour and defence have delivered a joint letter to the Iranian president criticizing the "inconsistent policies of government bodies". - 10/4/15

'Unusual' wheat loadings for Iran in Europe

- Ships are scheduled to make unusual loadings of about 60,000 tonnes of wheat for Iran, but overall demand from the country is expected to be very low this year, European traders say. - 10/4/15

U.S. Supreme Court To Hear Iranian Bank's Appeal Over 1983 Lebanon Attack

- The U.S. Supreme Court has agreed to hear an appeal by Iran's central bank against a $1.75 billion judgment over a 1983 bomb attack on a U.S. Marines barracks in Lebanon. - 10/2/15

Shell, Total get first gas stations in Iran

- Royal Dutch Shell and France's Total are the first foreign companies ever to win access to Iran's retail energy market after getting permit for 200 service stations which they will set up across the energy-rich country. ​ - 10/2/15
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