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August 25 2016
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Iran softens to oil production freeze?

- Iran has been ramping up output since the lifting of sanctions in January to reclaim its lost market share, dismissing demands to join the freeze initiative. On Tuesday, Reuters cited unnamed sources as saying that Iran was sending "positive signals" that it might get behind the push to curb production. - 8/24/16

Iran's foreign trade exceeds $35.8B in 5 months

- According to a Tuesday report by the Islamic Republic of Iran Customs Administration (IRICA), the country's non-oil exports in the aforementioned five months reached $19.108 billion, showing a 10.22-percent increase in comparison with the similar period the previous year. - 8/24/16

Upro Nature taps Iranian promise

- The new joint venture between Iran's Upro Tarh Pouya Kish and Italian firm Nature aims to bring Iran's agriculture sector into the modern era -Fruitnet - 8/24/16

Iranian FM Zarif meets Cuban President Castro

- Iran's Foreign Minister Mohammad Javad Zarif has met with Cuba's President Raul Castro while on the first leg of a six-nation tour of Latin American countries. Zarif leads a group of 120 businessmen and financial executives from government and private sectors. - 8/23/16

PHOTOS: 25th Iran Handmade Carpet Exhibition kicks off in Tehran

- Iran exported $82.9 million of hand-woven carpets, registering 39.5 percent rise, in the first four months of the current Iranian calendar year (March 20- July 21, 2016), compared with the same period last year, the Head of Iran National Carpet Center said on August 17. - 8/23/16

German exports to Iran soar in H1 2016

- Official figures show that Germany's exports to Iran soared in the first half of 2016 after a series of US-engineered sanctions that had been in place against the Islamic Republic for several years were eventually lifted. - 8/23/16

NIOC, Chinese CNPCI sign new deal on southern Iranian oil field

- Chinese CNPCI has been given a chance to participate Masjed Soleiman oil field recovery rate for the second time after an aborted deal in 2011. - 8/23/16

How Parasitic Finance Capital Has Turned Iran's Economy into a Case of Casino Capitalism

- Critics have often blamed President Rouhani of Iran for blindly following the neoclassical-neoliberal model of capitalism. The critical problem with Mr. Rouhani's economic policies, however, is more than just following the dominant economic model of neoliberalism; more gravely, it is following the worst aspects of that model. -Ismael Hossein-zadeh - 8/22/16

Iran to award two key oil deals to China

- Gholam-Reza Manouchehri, the deputy director for engineering and development affairs of the National Iranian Oil Company (NIOC), has been quoted by the media as saying that China's CNPC will be awarded the development of the second phase of North Azadegan project. Manouchehri added that the second company - Sinopec - will be awarded the development of the second phase of Yadavaran project. - 8/22/16

Iran Launches its First Private Cloud Data Center

- Iran's first private cloud data center gets launched in Tehran during a ceremony attended by the Minister of Communication and Information Technology. The construction for this data center took 3 years and 12 million dollars. -Hamed Jafari, Techsara - 8/22/16

Banks become Iran's economic nightmare

- In recent years, banks and financial institutions have mushroomed in Iran, engaging more in speculative activities than finance. A number of manufacturing corporations, pension funds, charity foundations as well as civil, military and state organizations have established their own banks to cash in on the lucrative speculative sector. - 8/21/16

Iran pitches huge gas reserves for Asia markets

- Iran is pitching its massive gas sector for trade with Asia where it sees a better market for exports than Europe. "Gas prices are more attractive in East Asia than in Europe," Deputy Petroleum Minister for trade and international affairs Amir-Hossein Zamaninia has said. - 8/21/16

First Medical Biotechnology Accelerator Established In Iran

- The first accelerator in the fields of medical biotechnology (medicines and equipment) and regenerative medicine (stem cells) and the ninth accelerator member of the Innovation Acceleration Center of Pardis Technology Park started its activity. - 8/20/16

Iran's pharmaceutical ambitions are a Catch 22

- Iran's pharmaceutical industry has found itself in a catch-22. On the one hand, the country is trying to grow its pharmaceutical exports and attract investment in the industry. But on the other hand... -Chloe Pfeiffer, Business Insider - 8/19/16

Norway To Fund 1 Billion Euro Development Projects In Iran

- Norway has opened a line of credit worth 1 billion Euro aimed at funding development and infrastructure projects in Iran. The Export Guarantee Fund of Iran and the Norwegian Export Credit Guarantee Agency signed three deals in the presence of Iran's Foreign Minister Mohammad Javad Zarif with his Norwegian counterpart Borge Brende in Tehran on Wednesday. - 8/18/16

Olive: The World's First Intelligent Suitcase

- A team of Iranian researchers at Tehran's Pardis Technology Park (PTP), using tracking algorithms, have recently presented a robotic intelligent suitcase. According to the public relations department of PTP, Olive Intelligent Robotic Suitcase is the outcome of efforts by the engineers at Idea Kavan San'at Pardis Company (IKAP) . - 8/17/16

Iranian carpets recapture US market

- According to head of the Iranian National Carpet Center Hamid Kargar on Tuesday, Iran's carpet exports to the US significantly grew in the four months since the beginning of the Persian year on March 21, totaling $27.6 million. - 8/16/16

President Rouhani: Iran removed bases for sanctions with JCPOA

- Iranian President Hassan Rouhani says his administration pulled off the task of removing the bases for sanctions against the Islamic Republic, not just the bans themselves, by achieving a nuclear deal with six world powers. - 8/15/16

Iran to introduce MasterCards: Communications Minister

- Iran is about to introduce credit card services processed by global payment operator MasterCard for the first time, Communications and Information Technology Minister Mahmoud Vaezi says. - 8/15/16

Boeing representatives in Tehran: Iranian Minister

- Boeing representatives are currently in Tehran, discussing the US plane maker's planned sale of commercial aircraft to Iran, an Iranian minister says. "Right now, Boeing representatives including three financial, legal and technical groups are in Tehran and negotiating" the sale of jetliners to Iran, Minister of Roads and Urban Development Abbas Akhundi said on Saturday. - 8/14/16

Iran oil fires raise cyber sabotage fears

- Iran's cyberspace security authorities are looking into possible sabotage by the US or Israel following a recent string of fires in Iranian oil and gas facilities. - 8/14/16

Iran's Foreign Minister Boosts Ties During Ankara Visit

- The foreign ministers of Turkey and Iran agreed Friday to boost trade relations and pledged greater cooperation on resolving the Syria crisis despite their differences on the issue. -VOA - 8/13/16

Iran's weak economic growth undermines supporters of engagement

- President Rouhani won the presidency of his country under a campaign which promised to improve Iran's economy and increase the standard of living of its people. This promise was grounded in another promise, to negotiate a deal with the United States which would end a decade's worth of economic sanctions -NIAC Insight - 8/12/16

Policy Memo: Understanding U.S. Sanctions-Related Obligations Under the JCPOA

- It is an elemental condition of the Joint Comprehensive Plan of Action ("JCPOA") -- the nuclear accord between the United States, other major world powers, and Iran - that the U.S. ensure that Iran receives the full benefit of the lifting of sanctions under the nuclear agreement. -Tyler Cullis, NIAC - 8/12/16

Turkey Says It Wants To Buy More Gas From Iran

- Turkish Foreign Minister Mevlut Cavusoglu says Ankara wants to buy more natural gas from Iran and that the two sides have discussed pricing issues. - 8/12/16

Iran to attract $30B for power projects

- Iran's Energy Minister Hamid Chitchian says the country has devised serious plans to overhaul its power industry within the next five years, adding that those plans need a collective investment of $30 billion to be materialized. - 8/12/16

Iran wins another legal battle against Israel

- Switzerland's highest court has rejected an appeal by an Israeli company against a verdict to pay Iran money owed over a joint venture set up before the 1979 Islamic Revolution. - 8/12/16

Iran expects first wheat export in years

- Iran is expecting a surplus of wheat this year, which it plans to release onto the regional markets, the country's top body in charge of ensuring food security says. - 8/11/16

Can Iran go around Turkey to reach Europe?

- Iran's geostrategic location, along with its historic role as a conduit for the exchange of goods -- especially its position on the ancient Silk Road -- has made the country one of the most active transportation hubs in the world. -Al Monitor - 8/10/16

Iran's President Rouhani heralds free trade with Caucasus and Eurasian countries

- President Hassan Rouhani said on Sunday that the purpose behind development of Iran's ties with countries in the Eurasian and Caucasus regions is to move toward "free trade." "Proximity and development of ties with Eurasian countries, the Caucasus region, especially the country of Azerbaijan, is very important and we should move toward free trade in the future," Rouhani told a press conference with his Azeri counterpart Ilham Aliyev in Baku. - 8/8/16

Ground broken for Iran-Azerbaijan joint car plant

- Iran-Azerbaijan joint car manufacturing project launched in Azerbaijan's Neftchala Industrial District on Saturday. Production capacity of the $15 million joint venture plant, which will be constructed by Iran Khodro Company and Azevrocar Company, is 10,000 cars per year and it is expected to create 300 new job opportunities. - 8/8/16

Israeli-owned oil company ordered to pay Iran $1.2 billion after losing appeal

- An Israeli-owned oil company has been ordered by an arbitration court in Switzerland to pay Iran USD 1.2 billion in revenues for oil supplied to Israel before the 1979 Islamic Revolution. - 8/8/16

Iran, Russia map out rival to Suez Canal

- A major project to foster trade connectivity through a less trodden path straddling a promising market is about to feature prominently in discussions when presidents of Iran, Russia and Azerbaijan meet in Baku on Monday. - 8/7/16

Putin renews vow to give Iran $2.5bn loans

- Russia says it is still committed to a pledge it has already made to grant two loans worth $2.5 billion to Iran. Russia's President Vladimir Putin says the loans will be meant to help Iran develop two key energy-related projects. - 8/5/16

Major Sanctions Renewal Risks Complicating Iran Deal

- Congress is expected to consider legislation soon to renew the Iran Sanctions Act, the law that mandates many of the existing U.S. sanctions on Iran's energy sector and which expires at the end of the year. Legislators from across the aisle have pledged to renew the bill but failed thus far to coalesce around a single proposal. -Roksana Borzouei, NIAC - 8/5/16

Iran supertanker smashes into container ship in Singapore Strait

- An Iranian supertanker collided with a container ship in the Singapore Strait with no loss of life or pollution despite damage to both vessels, shipping officials said on Thursday. - 8/5/16

Iran's South Pars Gas Field: Phase 18 platform installation completed

- The platform 18B of Iran's South Pars gas field was fixed on its jacket in the phase 18 of the giant gas field in the Persian Gulf on Tuesday, Shana reported. The operation of loading the 2,300-ton platform from Bandar-Abbas yard was conducted by Iran Shipbuilding and Offshore Industries Complex Co. (ISOICO) on June 23. - 8/4/16

Iranian Cabinet Adopts New Oil-Contract Model To Woo Foreign Investors

- Iran's government has approved a new oil contract model designed to attract foreign investors in its energy industry following the easing of sanctions in January. The contract model was approved at a cabinet meeting on August 3, local media reported. - 8/4/16

Iranian President Says World Powers Must Fulfill Nuclear Deal

- Iranian President Hassan Rohani has criticized world powers for not fulfilling all of their commitments under a historic nuclear deal signed last year. Rohani said on state television on August 2 that the failure to lift all sanctions against Iran had harmed the country's economic growth. - 8/3/16

Russian industrial giant seals deal with Iran

- Russia's Technopromexport has become the country's first enterprise to win a major industrial deal from Iran after the removal of the sanctions against the country. Technopromexport, part of Russia's state industrial conglomerate Rostec, will reportedly build a thermal power plant in Iran with a capacity of 1.4 gigawatts (1.4 billion watts). - 8/3/16

Iran's Rohani Orders Delay In State Recruitment Exams To Address Gender Quotas

- President Hassan Rohani has ordered the postponement of state recruitment exams for Iranians seeking government jobs, saying that gender quotas must be fixed and based on "justice." Rohani's order on July 31 followed Iranian media reports alleging that some of the 13 state bodies participating in the exam, which had been scheduled for September 6, have quotas that discriminate against women. -Golnaz Esfandiari - 8/2/16

Iran, Russia taking partnership to new levels

- More signs have appeared showing that Russia is already working on what may be a special industrial alliance with Iran. The country says it is preparing a road map for dozens of joint industrial projects with Iran, adding that it would be signed by the related officials of the two countries in the near future. - 8/1/16

Iran spurs Japan on $10 billion investment plan

- A senior Iranian official has called on Japan to move faster on rolling out a credit package worth $10 billion for investment in Iran. Japan signed a bilateral investment treaty and an agreement for a $10 billion debt guarantee for Iran in February after Tehran reached a nuclear accord with the US, EU, China and Russia. - 7/31/16

Promising Outlook for IKCO-LG Electric Car Deal

- Iran Khodro's CEO Hashem Yekezare recently confirmed a South Korean press statement that his company is in talks with LG International Corp to jointly develop electric-powered vehicles. The earlier news, which Financial Tribune reported in May, marks a turning point for Iran's largest automaker and assembler, which shows that it is actually thinking beyond CKDs and SKDs for the first time. -Morteza Raad, Financial Tribune - 7/31/16

Russia pushing North-South route to reality

- Russia says it has presented a plan to Iran which envisages establishing a unified transport company with India to operate along the emerging North-South Transport Corridor (NSTC) - an ambitious intercontinental multi-modal route that would link St. Petersburg to Mumbai. The plan was raised during a visit to Tehran by Alexander Zhilkin, the governor of Russia's Astrakhan region. - 7/29/16

Iran's global banking problems deepen with rise of Trump, Brexit

- Britain's vote to leave the European Union and the rise of U.S. presidential nominee Donald Trump have paralyzed efforts by Western governments to encourage already highly reluctant international banks to do business with Iran. - 7/29/16

Real Target of Tehran's Demand for Apple to Open Office in Iran is US Sanctions

- Tehran's recent ultimatum to Apple, the US tech giant, to open up an office in Iran or face a ban on Apple products in the country, was presented as a bid to end the loss of tax revenue from millions of iPhones smuggled into Iran, but its real goal is to break through the wall of US sanctions still blocking investment in Iran. - 7/28/16

Iran's Intelligence Ministry Interferes in Case of Imprisoned Christian

- Iran's Intelligence Ministry has directly interfered in the case of imprisoned Christian convert Maryam (Nasim) Naghash Zargaran-who has been on hunger strike to persuade the authorities to consider her for early release-in another example of the Judiciary's lack of independence. - 7/28/16

China to invest $3bn in Iran's fish farming

- More signs have appeared to show that East Asian countries are interested in Iran's fish farming business. China has joined South Korea to announce that it is planning to invest $3 billion in Iran's fisheries. - 7/28/16

Top Oil Market Embraces Iran Once Again as Asia Imports Jump

- The Persian Gulf state boosted exports to major oil consumers in Asia during the first half of this year, after international sanctions that restricted its supplies were eased in January. Japan's purchases increased 28 percent, India bought 63 percent more, South Korea's imports more than doubled while shipments into China gained 2.5 percent during the six months, government and shipping data compiled by Bloomberg show. -Heesu Lee, Bloomberg - 7/28/16

US Administration Failed to Enable Iran to Access Its Oil Revenues

- One year has passed since Iran and the P5+1 group reached an agreement on Tehran's nuclear program known as the Joint Comprehensive Plan of Action (JCPOA); an agreement, which put an end to more than one decade of tension between the two sides over Iran's nuclear program and turned into an important model for peaceful resolution of a difference. -Interview with Peter Jenkins by Sara Massoumi - 7/27/16

M&A deals, alternative approach towards Iran market

- Like any other opened up economy, the Iranian economy- recently relieved from sanctions - has been tried to be penetrated in the past few months. There is no argument that the second economy of the Middle East with around 80 million population which has been neglected for the past ten years in the current competitive business environment is hard to pass. -Mohsen Mohammadi - 7/27/16

Iranian officials allowed to receive maximum $2800 per month

- Iran has set ceilings for monthly salaries of political and non-political figures following widespread criticism of inflated salaries. The same figure for non-political figures, managers of economic institutions and factories will be 180 million rials (about $5,000) - 7/27/16

Iran self-sufficient in wheat for 2nd year

- Iran expects its state-sponsored purchases of wheat from domestic farmers to surpass 10 million tonnes this year, Agriculture Minister Mahmoud Hojjati says. Harvests in the 2016/2017 crop season are on track to make the country self-sufficient in wheat for the second year running, the government's official news website said. - 7/26/16

Tehran, Yerevan reach new gas deal

- Iran's oil minister has announced that on the basis of a new agreement between Tehran and Yerevan, Iranian gas will be transferred to Georgia through Armenia. Speaking to reporters on the sidelines of a meeting with the visiting Armenian Ministry of Energy and Natural Resources Levon Yolyan, Iran's Bijan Zanganeh said transit of Iranian gas via Armenia marked the main axis of the session. - 7/26/16

Focus Iran Summit 2016: September 26-27, 2016 in Tehran

- Following many years of international trade isolation, Iran has returned to the global fore by opening its doors to foreign investments and alliances. A vastly abundant state of geo-strategic importance, Iran is a Middle Eastern dynamo with well-established capital markets, a rooted industrial sector, and at its core - a young and well-educated population of under 80 million people. - 7/25/16

Daily output of Iran's South Pars gas field to rise to 540mcm by March 2017

- South Pars field, which Iran shares with Qatar in the Persian Gulf, is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world's reserves, and approximately 18 billion barrels of condensate. Meanwhile, the country maintained its rank as the third natural gas producer in the world after the U.S. and Russia for the second consecutive year. - 7/25/16

French Carmaker Signs Deal To Build Citroens In Iran

- French carmaker Peugeot-Citroen (PSA) said it has signed a preliminary agreement with Iranian company SAIPA to produce and sell Citroen cars in the country. In a statement released on July 21, the Paris-based carmaker said PSA and SAIPA will invest more than $330 million over five years. - 7/22/16

Congress Should Let the Boeing Deal Proceed

- Before adjourning for the summer, lawmakers in Congress found time to pass several bills that could imperil one of the most significant global security achievements in many years: the year-old nuclear deal that President Obama struck with Iran. This is not the first time that hard-line Republicans and their well-funded lobby group allies have tried to sabotage the deal... -New York Times Editorial - 7/22/16

Iran planning return to debt markets

- Iran says it is planning a return to the international debt markets in an effort which could help it rebuild public finances that have been battered by a plunge in oil prices. - 7/21/16

Iran's Aseman Airline to get Mitsubishi planes

- Iran says one of its airlines is planning to buy over two dozen planes from Japan's industrial giant Mitsubishi thus confirming earlier reports that a deal to the same effect is in the pipeline. - 7/21/16

US urged to facilitate Iran banking transactions

- The US has been urged by fellow members of the P5+1 group of countries to facilitate banking ties with Tehran through the clarification of transaction channels with the Islamic Republic, a senior Iranian official says. - 7/20/16

Former Iranian Banker Arrested On Corruption Charges

- Iran's Islamic Revolutionary Guards Corps (IRGC) has arrested the former manager of one of Iran's major banks and his deputy over alleged corruption, IRGC affiliated news agencies Fars and Tasnim reported on July 20. - 7/20/16

Europeans keen to invest in Iran's renewable energy sector: EWEA Chief

- Giles Dickson, the CEO of the European Wind Energy Association (EWEA), said that renowned European companies are keen to invest in Iran's renewable energy sector, especially in wind energy sphere. Dickson made the remarks in an exclusive interview with the Tehran Times on the sidelines of the 4th Iran Wind Energy Conference which was held in Tehran on Tuesday. - 7/20/16

Serious signs indicating Iran opening

- Iran says it has started talks with global engineering giants Siemens and Rolls-Royce over power projects - a development that experts say show the country is gradually opening up to investors after the removal of the sanctions. - 7/17/16

First episode of doc series on Iranian entrepreneurs released

- The first episode of "Karestan", a documentary series on Iranian entrepreneurs, was released on Saturday. Director Bahram Azimpur, project manager Rakhshan Bani-Etemad and producer Mojtaba Mirtahmasb attended a screening of the episode entitled "Cotton and Fire" at the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA). - 7/17/16

Iran Plans First Tender to Draw $12 Billion Green Investment

- Iran is planning its first tender for utility-scale renewable-energy projects by year end as it begins a green power build out that could draw $12 billion of investment by the time it's complete. -Bloomberg - 7/17/16

Firms say US Congress blocking Iran plans

- In the wake of the recent anti-Iran bills adopted by the US Congress, global corporate leaders are already complaining that American lawmakers are undermining their plans to approach the vast Iranian market. - 7/16/16

Italy's ANAS to build key highway link in Iran

- ANAS, Italy's state-owned national roads and highway construction company, says it has signed a major deal with Iran to construct what could be a strategic highway connecting one of the country's key ports on the shores of the Persian Gulf to the border point with Turkey. - 7/16/16

US Is Delaying Iran's Return to Global Economic Community

- It is a year on Thursday since Iran and the West struck their historic nuclear deal. It is in deep trouble - and the fault lies with the United States. Iran promised to cut back its peaceful nuclear program. In return Washington undertook to relax its sanctions against Iran and open the way for its return to the global economic community. This agreement, reached in Vienna on 14 July 2015, appeared to bring an end to nearly 40 years of cold war between Iran and the West stretching back to the 1979 Islamic revolution. -Peter Jenkins and Peter Oborne - 7/15/16

One Year On: Why Iran Has Yet To Cash In On Nuclear Deal

- A year ago, the inking of a historic nuclear deal with world powers led some euphoric Iranians to dream of an economic boom and the end of international isolation. Despite the lifting of crippling sanctions that freed billions in assets and removed many obstacles to trade, there are few signs that Iranians have reaped the economic benefits that they had expected from the July 2015 agreement, known as the Joint Comprehensive Plan of Action. -Frud Bezhan and Hannah Kaviani, RFE - 7/15/16

New Law Reduces Employment Prospects for Women in Iran

- Iran's Parliament has ratified an amended law that reduces the working hours of female employees with certain family obligations by eight hours per week. Although the law requires employers to pay these women full-time wages, rights advocates say the law will harm the employment prospects of women entering the job market and reduce the job security of those already employed, as employers balk at the costs the legislation will incur upon them. - 7/15/16

U.S. House Approves New Sanctions On Iran Over Missiles, Terrorism

- The U.S. House passed two bills imposing new sanctions on Iran for continuing to develop ballistic missiles and denying the Iranian government and banks access to the U.S. financial system and dollars. But Democrats called the GOP bills cynical attempts to score points with grass roots conservative constituents in an election year. - 7/15/16

Iran introduces 12 sectors to foreign investors

- KPMG, the giant global company that provides audit, tax and advisory services, has been quoted by the media as indicating in a report that the target sectors include oil, natural gas, mining and electronics. The KPMG report has estimated the value of potential investments in the 12 sectors at $250 billion. - 7/15/16

Iran reports huge rise in exports to US

- The latest official figures show that there has been a whopping rise in Iran's exports to the United States in the second quarter of 2016. Figures released by Iran's Customs Administration show that Iran exported Rials 300 billion (about $8 million) to the US over the period. The figure marks an 80-fold increase compared to the same period last year when it stood at only Rials 3.8 billion ($0.1 million). - 7/15/16
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