Corporate News & Business

 

Deal with ATR to provide Iran with 20 planes (Mehr News Agency, 10 April 2017)

Deputy-Minister of Road and Urban Planning Mr. Asghar Fakhrieh Kashan has announced a 3rd airline manufacturer – Italy’s ATR plane manufacturer – has signed a deal with Homa to sell 20 of its ATR 72-600. Efforts to sign a deal with Brazilian manufacturer Embraer have not yielded results yet.

 

155 Iran projects attract $7bn foreign investment (Middle East Association, 09 April 2017)

Iran’s Ministry of Industries, Mines and Trade Mr. Mohammad Reza Nematzadeh revealed that 155 projects were implemented nationwide over the past four years which drew US$ 7 billion in foreign investment, said a report by Iran Daily News. The ministry said that Iran’s President Hassan Rouhani had adopted a plan to absorb US$ 8 billion in foreign investment for implementing 159 projects. Mr. Nematzadeh further noted that over 19,000 incomplete projects involving investments of around $20 billion have become operational in the past four years. The Rouhani administration has made all-out efforts to encourage foreign investment by placing on its agenda the easing of business environment, simplifying cumbersome regulations that retard productivity and innovation, stifle economic growth and inhibit foreign investments.

First Boeing plane to land in Tehran next month (Mehr News Agency, 09 April 2017)

American airplane manufacturer Boeing will deliver its first plane to Iran within a month, an official of the Ministry of Roads and Urban Planning has said. The first Boeing to land in Tehran will be a Boeing 777, to be operated by Iran Air. The plane is part of the deal which includes 79 other short- and long-range Boeing planes to renew Iran’s antiquated air fleet. Boeing was not supposed to deliver its first plane before 2018. That Boeing 777 was ordered by Turkish Airlines, that no longer wants it and since it matched Iran’s requirements, the American aircraft manufacturer agreed to send it to Iran instead.

Tehran to host Iran RAILEXPO 2017 (Mehr News Agency, 09 April 2017)

The 5th International Exhibition of Rail Transportation Related Industries & Equipment will convene in the Iranian capital 15-18 May 2017. Alongside domestic actors, companies from various countries like Russia, Germany, China, Italy, Spain, Turkey, Czech Republic, India and Slovakia will take part at Iran RAILEXPO. The exhibition will include a presentation of the latest achievements and technologies in rail transportation and related industries, as well an present investment opportunities in railway projects and high-speed trains.

 

 

Finance

Iran’s government increases CBI deposits (Financial Tribune, 10 April 2017)

According to the latest data released by the Central Bank of Iran (CBI) for the month ending 18 February 2017, government deposits with CBI reached US$ 11 billion and registered an 11.3% and 20.7% increase on a monthly and year-on-year comparison, respectively. This could be a result of the government’s plan to move all its accounts from state-owned and private banks to CBI. The Iranian private sector’s deposits in banks and non-bank financial institutions reached US $315 billion by 18 February 2017, marking a 24.6% growth year-on-year. The CBI report indicates that the private sector’s debts to banks sharply grew by 25.6% during the period compared with the correspondent period of last year. Specialized and commercial banks accounted for 20.3% and 15.4% of the total debts, respectively.

 

TSE inks co-op MOUs with 12 foreign stock exchanges (Tehran Times, 10 April 2017)

Tehran Stock Exchange (TSE) has signed memorandums of understanding (MOUs) for cooperation with 12 foreign stock exchanges over the past year, according to TSE Managing Director Mr. Hassan Qalibaf-Asl.

 

Oil & Gas

 

SNSC to endorse new oil deals (Mehr News Agency, 09 April 2017)

Irans Oil Minister Mr. Bijan Zanganeh told Parliament’s open session on 9 April 2017 that foreign investments will bring prosperity and economic growth to the country. The major criticism by MPs in the Parliament relates to an article in buyback agreements. The latest version of Iran Petroleum Contract (IPC) assigns part of the project to contractors. This, seen by the Principlists as violation of the national governance over natural resources.

International

 

Iran’s postal connections increase (Financial Tribune, 10 April 2017)

The Islamic Republic of Iran Post Company has increased its connections with foreign postal companies and added 17 new international postal routes after the removal of sanctions to facilitate postal affairs, Director g-General of Iran’s Post Company Mr. Hossein Mehri said, adding that five foreign airlines have agreed to provide Iran with access to their services in this regard.

 

Economy & Society

 

Iran exports livestock, poultry products worth $1.2bn (Mehr News Agency, 10 April 2017)

Iran’s Deputy Agriculture Minister Mr. Hassan Rokni reported that last year, US$ 1.2-worth billion dollars in livestock and poultry were exported, noting that the sector enjoyed a trade surplus of US$ 554 million. He said 750 000 tons of dairy products were deployed to global markets in the meantime indicating an uplift of 150 thousand tons as compared to the corresponding period a year ago. On honey exports, Mr. Rokni said 1,430 tons of honey were exported in eleven months of the previous year though the figure had stood at only 1,200 tons in the earlier year.

Hardline cleric Raisi to take on Rouhani in Iran’s presidential election (Reuters, 09 April 2017)

Hardline cleric and custodian of the wealthy Imam Reza Shrine in Mashhad, Mr. Ebrahim Raisi announced on 9 April 2017 he would run in Iran’s May presidential election, challenging moderate President Mr. Hassan Rouhani’s economic record and his policy of detente with the West. The former prosecutor-general may struggle for recognition among voters though analysts say Mr. Raisi, thanks to the support he enjoys from Supreme Leader Mr.  Ali Khamenei, could pose a real challenge to Rouhani’s bid for a second term. Mr. Raisi has faulted Iran’s economic performance under Rouhani and his pursuit of detente that in 2015 yielded a landmark deal with world powers under which Tehran curbed its disputed nuclear program in exchange for the lifting of sanctions. Iranian conservatives are still trying to reach consensus on a presidential candidate, though Mr. Raisi seems well placed to become their top choice. Mr. Raisi was named on 6 April 2017 by the Popular Front of Revolutionary Forces, the conservatives’ main coalition, as a potential contender in the Islamic Republic’s election.

Iran, Oman to hold joint naval drills in Indian Ocean (Press TV, 08 April 2017)

The naval forces of Iran and Oman will hold five-day joint rescue and relief drills in Iran’s southern waters and the northern areas of the Indian Ocean has said the commander of Iran’s First Naval Zone, Rear Admiral Hossein Azad. He added that it was imperative to improve security in Iran’s southern waters and the Indian Ocean given their geographical significance in maritime economy and busy traffic of ships and oil tankers. Iran and Oman have so far held several naval relief and rescue drills aimed at enhancing readiness for providing relief services, conducting rescue operations and improving the level of regional cooperation. On 8 April 2017, the Iranian Navy dispatched a flotilla to the Kazakh port city of Aktau for the first time, commander of Iran’s fleet of warships in the northern province of Gilan, Admiral Ahmadreza Baqeri, said. The Iranian naval personnel and commanders on board the fleet are scheduled to visit Kazakhstan’s military and historical sites and hold talks with the country’s naval officials. In line with international efforts against piracy, the Iranian Navy has been also conducting patrols in the Gulf of Aden since November 2008 in order to safeguard merchant containers and oil tankers owned or leased by Iran or other countries.

By Natela Outtier