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Italian firm signs solar plant deal with Iran

Italy’s Carlo Maresca on Saturday signed a $100-million contract with the Iranian organization to construct a solar power plant near Garmsar Special Economic Zone in the central province of Semnan. As per the deal, a 100-megawatt will be built on a 2,000-hectare area within 15 months, IDRO’s official website reported….

Iran says credit line with Russia to boost trade

Iran says credit line with Russia to boost trade Iran’s Minister of Economy and Financial Affairs Masoud Karbasian. Iran says it expects a recent agreement with Russia over the creation of a credit line to fund Iranian projects to help promote trade between the two countries. Iran’s Minister of Economy…

Iran huge rise in imports from Europe

Iran huge rise in imports from Europe Iran has reported a major rise in imports from several key European countries over a period of nine months starting 21 March 2017.  As Iran is celebrating the second anniversary of the removal of sanctions, figures show the country’s imports have been picking…

Iran opens third DRI steel mill using domestic technology

Iran opens third DRI steel mill using domestic technology Neyriz Steel Complex at the time of commissioning. Iran has brought online its third steel plant which uses domestic technology for production of direct reduced iron (DRI) or sponge iron. The hot commissioning of Neyriz Steel Complex in the southern Fars…

With better risk rating, Iran now stands next to Brazil

With better risk rating, Iran now stands next to Brazil The Organization for Economic Cooperation and Development (OECD) has improved Iran’s risk rating by one notch. Iran’s media are reporting that the country’s risk classification has improved by one notch in a vital sign of improved investment environment.  The English-language…

PSA invites Iran Khodro to produce Peugeots in Algeria

PSA invites Iran Khodro to produce Peugeots in Algeria Iran Khodro logo French carmaker PSA Group has invited Iran Khodro (IKCO) to set up a production line for Peugeot cars in Algeria, the Islamic Republic News Agency (IRNA) reports. PSA executive vice-president for purchasing, Yannick Bézard, on Tuesday visited Tehran-based…

Iran sues Deutsche Borse subsidiary for holding $4.9 billion of assets

Iran sues Deutsche Borse subsidiary for holding $4.9 billion of assets The file photo shows the office of Clearstream in Kirchberg, Luxembourg, which facilitates international exchanges of securities. The Central Bank of Iran (CBI) is reportedly suing a subsidiary of German stock-exchange operator Deutsche Borse for holding $4.9 billion of…

ATR hopes US brinkmanship wont’ wreck Iran deal

ATR hopes US brinkmanship won’t wreck Iran deal ATR delivered eight aircraft in 2017 and plans to deliver a further 12 by the end of this year. Franco-Italian planemaker ATR says it hopes to weather the storm from a new deterioration in US relations with Iran, which could affect business with…

Mercedes to resume Iran production soon: ISNA

Mercedes to resume Iran production soon Iran Khodro presents Mercedes-Benz products at Tabriz Autoexpo 2014. Mercedes-Benz, a division of Daimler AG, will resume production of cars in Iran from the beginning of the new Persian year in March, ISNA news agency has reported. The company is about to produce 2,500…

Iranian firms preparing to buy shares of China banks

Iranian firms preparing to buy shares of China banks A top Iranian trader says the country’s private sector plans to buy a certain volume of shares of a Chinese bank in a move that could help facilitate mutual trade payments that have lately become complicated as a result of Beijing’s…