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First Iranian English Economic Daily financialtribune.com twitter.com/fintribune Contacts, ads: @FTD_ADS_Bot Print subscription: +982142710123 Digital subscription: financialtribune.com/subscription-plans
Foreign Investments in #Iran Debt Market Reach $8 billion
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Iran Seeks $50b in Mining Investment Over 5 Years
I ran is seeking $50 billion in investment for its mining industries up to 2022 and has signed agreements with several European and Asian banks in the past few months, a deputy minister of industries, mining and trade said on Wednesday.
“We are in need of $50 billion for investment in the mining and mining industries of Iran,” Mehdi Karbasian also told Reuters, speaking on the sidelines of the IMARC Mining Conference in Melbourne, Australia. Read More
Iran, Norway Sign Caspian Sea Oilfield Study MoU
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Iran H1 Hand-Woven Carpet Exports Up 13%
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Iran Foreign Trade Up 6.2%
Iran’s non-oil foreign trade during the first seven months of the current fiscal year (started March 21) stood at $52.52 billion, indicating a 6.2% rise compared to last year’s corresponding period.
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Iran: Battle to Put Out Burning Oil Well
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Foreign Investment to Help Diversify Iran's Petrochem Products
Streamlining the process of attracting foreign finance can help domestic petrochemical companies to diversify their products, the head of the Energy and Environment Commission of Tehran Chamber of Commerce, Industries, Mines and Agriculture said.
"Domestic producers are already producing a broad range of petrochemicals and polymers, but the country lacks cutting edge know-how and new equipment to diversify its petrochemical products," Reza Padidar also told NIPNA, the National Petrochemical Company's official news agency, on Monday. Read more
Peugeot-Citroën Pledges to Help Iran Auto Industry Grow
Executive vice president of Groupe PSA (Peugeot-Citroën) for Africa and the Middle East says the French automotive conglomerate has plans to help Iranian companies transform into capable auto manufacturers.
In an interview with the Financial Tribune’s sister publication @TejarateFarda Jean-Christophe Quémard said, “Technology transfer to Iran and localization are on top of Groupe PSA’s agenda.” Read More
Deadline for Ending Lenders’ Non-Banking Ventures
Minister of Economic and Finance Affairs Masoud Karbasian announced that Iranian banks have about eight months to end their non-banking activities for which they have constantly come under fire.
According to Karbasian, banks will need the help of the country's capital market to shed their non-banking ventures. Read More
HiWeb Signs Merger Deal With Pars Online
HiWeb, one of Iran’s largest Internet service providers, has signed a merger agreement with its archrival Pars Online. The agreement was officially signed late Saturday by the two ISPs’ managing directors, Bourse Press reported Read More
Rouhani Cabinet Complete
Lawmakers voted to confirm nominees proposed by President Hassan Rouhani on Oct. 21 for the two remaining vacant places in his 18-minister Cabinet.
The parliament had a week to vet the proposed candidates until the vote of confidence on Sunday. It had approved 16 Cabinet members nominated by the reelected president in early August.
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Majlis Approves 2 Ministers to Complete Rouhani's Cabinet
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$25b of Foreign Investment Attracted in Four Years
Iran attracted $24.95 billion in foreign investments from Sept. 23, 2013, to Sept. 22, 2017, the director general of the Ministry of Industries, Mining and Trade’s Foreign Investment Office said.
Afrouz Bahrami added that the figure accounts for less than 2% of all the FDI made worldwide during the period
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TEDPIX Wins 1% in Trading Week+Charts
Stocks closed the rather uneventful first week of the month with strong growth, mostly owing to the upsurge at both Tehran Stock Exchange and Iran Fara Bourse on Saturday Read More
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Japan’s NRI to Help Manage State Assets
Nomura Research Institute, a Japanese firm that provides asset management consulting and finance solutions, is interested in identifying Iran’s potential assets and helping efficiently utilize them Read More
Interview: Bank Melli Iran Upbeat on Int’l Expansion
Interview
Iranian banks remain devoid of ties with major European counterparts who understandably err on the side of caution for fear of having to pay millions of dollars courtesy of potential US retribution, but the man helming the biggest Iranian bank anticipates a brighter future even as uncertainties abound.
"Personally, I remain very hopeful," Mohammad Reza Hosseinzadeh, chief executive of Bank Melli Iran, told Financial Tribune on whether he sees any top-tier financial institutions working with Iran in the next couple of years. Read More
Iran-EU Trade Doubles
Iran’s trade with the European Union stood at €13.1 billion in the eight months ending August 2017, almost double compared with the same period of last year.
Exports to the EU’s 28 states stood at €6.5 billion, about 2.4 times more than in the same period of 2016, Eurostat data show, as reported by the Economic Studies Department of Tehran Chamber of Commerce, Industries, Mines and Agriculture.
Iran imported €6.6 billion worth of commodities from the European Union, recording a 37.5% rise year-on-year. Read More
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Russia President Vladimir Putin arrives in Tehran to take part in the 2nd tripartite meeting among presidents of Iran Russia and Azerbaijan
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Economic Departments in Embassies
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More On Iran-India Relations:
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🎥 Rag Sefid #oil rig fire is still burning three days after it started (taken on Monday)
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IFX Hits All-time High
Iran Fara Bourse’s main index IFX gained 8.9 points or 0.93% to close Monday trade at its all-time high record of 969.57.
IFX’s previous historical high of 961.03 was reached on September 27.
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Non-Oil Trade Between Iran, India on Rebound
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India on Sunday sent its first consignment of wheat for Afghanistan to be transited through Chabahar Port in Iran, seen as a “landmark” move
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Iran Confectionery Giant Makes Inroads Into Qatar Market
Iran’s biggest confectionery company, which is also one of the biggest in the Middle East, is planning to enter Qatar’s retail market.
Shirin Asal Food Industrial Group, with a turnover of about $5 billion per annum, is planning to set up a factory in Qatar. Read More
Interview: Iran's Need for Foreign Trade Paradigm Shift
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Marzieh Shahdaei Appointed First Deputy of #Iran's Oil Ministry
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TEDPIX Wins 1% in Trading Week
Base Metals Lead the Charge
Base metals were again the leading industry for the week, as the index gained 4.3% in the five trading days with Mobarakeh Steel Company spearheading the growth.
Iran’s largest flat steelmaker was continuously in the green with the exception of a slight downtick on Monday. It gained a total of 10.3% during the week to reach 2,360 rials per share. Read More
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Iran-Russia Bank Card Integration in 3 Months
The first stage of integrating the banking payment systems of Iran and Russia will be implemented in the next three months, announced the CEO of Informatics Services Corporation of Iran–a leading developer of banking and payment solutions affiliated with the Central Bank of Iran. Read More
At least six people were killed and two injured in a blaze at #Tehran Oil Refinery
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