24 May 2015 9:54
Iran is planning to bring three new petrochemical plants on-stream before the end of the current Iranian calendar year (ends March 20, 2016), an official says.
Maryam Shahedaei, the official in charge of projects at the National Petrochemical Company (NPC) was quoted by Iranian media as saying that the three plants will be located along the path of the West Ethylene...
23 May 2015 8:29
Iran will begin exporting natural gas to Iraq in a month’s time, Managing Director of the National Iranian Gas Company Hamid Reza Araqi said on Saturday.
The gas flow will begin with a one-month delay after final tests on the pipeline are completed, he said.
Exports were planned to begin this month but “the two sides were not technically ready” for...
18 May 2015 18:09
Iranian Economy Minister Ali Tayyebnia underlined that Iran's positive economic growth has made the world powers to sit to the negotiating table with Iran.
"The government has taken effective steps in reducing the country's dependence on the oil revenues over the past two years in a way that the country's economy witnessed positive growth last Iranian year (ended march 20); this...
18 May 2015 18:00
Bulgaria has called on Iran to join the Nabucco gas pipeline concurrent with the new round of Iran-Group 5+1 (the US, Russia, China, France and Britain plus Germany) talks, media reports said.
The call has been put forward during the recent meetings between Iranian Ambassador to Bulgaria Abdollah Norouzi and Bulgaria's prime minister as well as other Bulgarian officials, Sofia news...
17 May 2015 16:17
Iran on Sunday called for an expanded rail link between member states of the Economic Cooperation Organization (ECO).
Abbas Akhoundi, Iran's minister of housing and urban development, told a forum of ECO railroad chiefs, that more efforts are still needed to increase the share of rail links in transportation systems that connect the Organization’s member states.
Akhoundi added that private-sector...
16 May 2015 12:18
India owes Iran $8.8 billion which is blocked in a bank account under the US-led sanctions regime, Governor spokesman Mohammad Baqer Nobakht has said.
The money has piled up as India has kept purchasing oil from Iran under a nuclear agreement which allows the Islamic Republic to sell around one million barrels per day of crude.
Much of Iran’s oil money...
12 May 2015 7:39
Iran's media say French giant automaker Peugeot will form a joint venture with the country's leading car manufacturer Iran Khodro.
The Persian-language Iran newspaper said on Tuesday that final talks over the JV have been held in Paris and the two sides are expected to sign a deal to the same effect “within the next few weeks”.
Each side will have a...
7 May 2015 13:36
German engineering company Siemens is set to cut 4,500 jobs on top of a previously announced 7,800 cuts.
The Munich-based industrial group said some 2,200 of the latest redundancies will be in Germany itself and the rest from elsewhere around the world, where it employs more than 300,000 people in total.
Siemens’ newly announced job cuts came after another 7,800 cuts were...
5 May 2015 14:41
Iran says it plans to unveil a set of policies that have been specifically designed to facilitate foreign investments in the country during a conference that will be held in September.
Mohammad Fetanat, the president of the Securities and Exchange Organization of Iran (SEO), has been quoted by the media as saying that investors “from a large number of countries”...
4 May 2015 15:52
Iran has recently been witnessing an increase in the number of major trade delegations – mostly from Europe – that visit the country to explore the avenues for investments in the country in the post-sanctions era. This has already raised speculations about which specific market looks more attractive to investors and also how Iran would benefit the best from the...
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