First Europe bank to open Iran office
Austria’s Raiffeisen Bank International (RBI) says it wants to open a branch in Tehran “as quickly as possible,” becoming the first foreign lender to set up shop in Iran after the lifting of sanctions. RBI is in “intensive talks” with Iranian banks as Tehran is rejoining the international banking system,…
German MKM to invest €1b in Iran’s copper industry
Germany’s copper producing company Mansfelder Kupfer und Messing GmbH (MKM) signed a memorandum of understanding, worth €1 billion, to invest in a number of mineral projects including the ones in downstream copper industries in Iran. The MOU was signed on Tuesday with the National Iranian Copper Industries Company (NICICO), according…
European insurance offices ready for presence in Iran market
Head of the Central Bank of Iran Mohammad-Ebrahim Amin said on Tuesday that European insurance houses are ready to be present in Iranian market. Amin told a press conference on Tuesday that in the post-JCPOA era, cooperation between Iranian and foreign insurance companies will be possible and any decision for…
Austrian company ready for joint automatic transmission production
An Austrian company engaged in making auto parts voiced readiness for joint production of automatic transmission during a conference of the economic activists of Iran and the Austrian state of Steiermark on Wednesday. During the conference hosted by Tehran Chamber of Commerce, Industries, Mines and Agriculture, some 50 economic activists…
Iron, Steel 4th in list of Iranian major exports: ITDO
Iron and steel exports fetched dlrs 763 million over the past nine months, Iran Trade Development Organization said on Wednesday. It said that the steel manufacturers exported 1,6661,000 tons of steel, up by six percent compared to that of the preceding period. Over 1,178,000 tons of crude steel was exported…
Joint venture foreign investment separate from import of goods
Head of the Chamber of Commerce, Industries, Mines and Agriculture of Isfahan Province Abdolvahab Sahlabadi said on Wednesday that joint venture foreign investment is separate from import of goods from other countries. Talking to IRNA, Sahlabadi said that joint venture investment with foreign partners aims to help increase domestic products,…
Iran anticipated to attract $7b FDI by mid-March
Iran would attract $7 billion worth of foreign direct investment (FDI) by the end of the current Iranian calendar year (March 19, 2016), said Mohammad Khazaei, the Iranian deputy minister of economy. Khazaei said industry, agriculture, transportation and tourism are the main sectors to attract foreign investment, FNA reported on…
Spokesman says US freed $100 billion of Iran assets
Spokesman of the US State Department John Kirby said 100 billion dollar worth of Tehran’s assets have been freed so far. According the State Department website, he said there is no difference in the figures announced by the two ministries of treasury and state regarding the figure. Commenting on the…
