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Iran Chamber Newsroom

Toman: Iran government passes bill to slash four zeros from currency

Tehran has been planning since 2008 to redenominate the national currency as it continued devaluation. Now, the government is pushing the plan forward following the drastic loss of the currency value last year after the restoration of economic sanctions on Tehran in 2018.

Financial Markets

Syria, Iran to set up joint factories in coming days

Iran and Syria are set to establish three joint factories that will supply the country with vital staples such as anti-cancer medicine, baby formula and cars.

Trade

Sweden eyes entering INSTEX to resume Iran trade

Many countries are considering joining the European payment mechanism. Sweden, after Finland, is the second Scandinavian country to express readiness to be part of the trade channel.

Financial Markets

Iran private sector sets eyes on Iraqi reconstruction market

Iran private sector says it has all the capacity to fully enter the Iraqi reconstruction market as the neighbouring country eyes foreign investment to rebuild itself.

Mine and Industry

Iran, Iraq to set up joint investment fund

Securities and Exchange Organization (SEO) of Iran and the Iraqi Securities Commission (ISC) signed a Memorandum of Understanding (MoU) to create a joint investment fund.

Financial Markets

Iranian ship Bavand sets sail from Brazil, second vessel following soon

Iranian ship Bavand, which had been at the heart of a geopolitical spat between Brasilia and Tehran, set sail from Brazil on Monday after receiving fuel from state-run Petroleo Brasileiro, the port of Paranaguá said.

Energy

INSTEX to renew management, services to fast-track Iran transactions: Report

In a push to process transactions more quickly, INSTEX is rolling out a new factoring service for European exporters. The company is also making new hires that will enable it to expand operations in the coming year.

Financial Markets

Iran to open regulated forex market 12 August to rein in currency fluctuations

The foreign exchange market is meant to bring under control the market that has been spiraling out of control following the reimposition of unilateral US sanctions.

Financial Markets

Asghar Ghandchi, father of Iran’s heavy trucks industry, dies at 91

Asghar Ghandchi was one of the first entrepreneurs that started to revolutionise Iran’s industrial sector by assembling and manufacturing big lorries, later Mack Trucks, that were built to suit the Iranian climate and bad roads in the 70s.

Mine and Industry

Iran’s vice president urges China, friendly countries to buy oil

After one year of the imposition of oil sanctions, Iran’s economy now enjoys a stable status. Iran expects friend countries to act more actively in buying Iranian oil, Iran’s Vice President Jahangiri said.

Energy

Iran Chamber of Commerce, Industries, Mines and Agriculture

Established in 1884, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) is a non-profit and non-governmental institution which aims at facilitating economic growth and development in the country. Iran Chamber tries to further coordinate the activities of the private sector. As an economic forum, representatives from both the government and the private sector attend Iran Chamber's sessions. Meanwhile the institution acts as an advisory body to the government, parliament and judiciary.

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