Iran is stepping up the hunt for overseas investment in its energy infrastructure after talks with Siemens and Rolls-Royce that point to the gradual opening of the country’s economy following the lifting of international sanctions. Hamid Chitchian, Iran’s energy minister, met representatives of both companies in London last week to discuss collaboration in power generation technology. Read more…
Like many Western firms, Procter & Gamble Co. is eyeing new opportunities in Iran following the relaxing of trade sanctions earlier this year. But for a Swiss subsidiary of the U.S. consumer goods giant, Iran already is a very familiar market. Starting with market research in 2003, and culminating with more than $100 million in sales in the year ended in mid-2010, Geneva-based Procter & Gamble International Operations SA’s business in “Parthia”—an in-house byword for the Middle Eastern country—was a success story. Read more…
The Iranian government expects to bring in at least $40 billion in investments per year to an opening oil industry, a deputy trade official said. According to Deputy Petroleum Minister for International Affairs and Trading Amir Hossein Zamaninia, Iran expects to see signatures on the first new post-sanctions oil contracts within the next three months. Characterising the current status of the oil industry as satisfactory, the minister said Iran expects to bring in significant revenue from oil once new contracts unfold. Read more…
French car maker Renault will produce five new products in Iran in collaboration with two major Iranian companies, semi-official Mehr news agency reported on Sunday. Read more…
With Britons having voted to exit the European Union, Britain could eventually expand its trade with Iran — a country hungry for foreign investment, especially in its energy sector, compliance attorneys at the New York-based Sheppard Mullin told International Business Times. In the wake of a so-called Brexit, a warmer relationship between Britain and Iran could offer both countries solid economic opportunities. Read more…
It has the world’s largest gas reserves, the second-largest copper reserves and only three countries in the work have more oil – Iran is open for business! Read more…
AirAsia flight D7 776 successfully took off Tuesday evening, making its inaugural direct flight into the Iranian capital of Tehran from Kuala Lumpur with three times weekly flight. Read more…
Already, one Iranian official has said the deal could involve 100 aircraft while another has suggested Iranian airlines may purchase aeroplanes worth $US25 billion ($A33.56 billion) from Chicago-based Boeing, welcome news to workers on its massive assembly plants around Seattle and company stockholders. Read more…