Economy, Domestic Economy

Financial Tribune's Most-Read Stories on Iran Economy in 2017

Financial Tribune's Most-Read Stories on Iran Economy in 2017Financial Tribune's Most-Read Stories on Iran Economy in 2017

The Financial Tribune website attracted some millions of visitors in 2017. The list below shows the most-read stories about Iran economy, excluding those developed by other media:


9. MunichRe Signs 1st Post-Sanctions Deal With Iran

Back in July, Iran's Saman Insurance Company announced that it has signed a contract with the world's largest reinsurance company Munich Re, based on which risks in life insurance and capital formation categories are reinsured by German reinsurer.


8. A Tesla in Iran: First Driverless Car Experience

A Swiss couple traveling across Europe and West Asia arrived in Tehran in June to promote the concept of non-polluting driving, and where top auto companies like Iran Khodro may hopefully one day venture into in terms of their technology.

Two journalists from the local automotive blogging website Asbe Bokhar met with the husband and wife team while they were on the Iran-leg of their trip, and got to use the Tesla Model S 85 (85 kWh) in the Shahrak Qarb neighborhood of the capital city.

7. Qatar Economy Minister in Tehran: Doha Seeks to Expand Trade with Iran

Back in November, Qatari Minister of Economy Ahmed bin Jassim Al Thani held a meeting with Iranian Minister of Industries, Mining and Trade Mohammad Shariatmadari in Tehran.

The official said that his country was seeking to increase bilateral trade with Iran.

Financial Tribune’s earlier inquiries in statistics released by the Islamic Republic of Iran Customs Administration revealed that Iran exported $139 million worth of non-oil goods to Qatar during the seven months to October 22, registering a remarkable %117.5 increase compared with the same period last year.

During Al Thani’s visit, Turkey, Iran, and Qatar also signed a transportation pact for boosting trade among the three countries.



Keep up we the latest developments in Iran-Qatar relations here.

6. Customs Reforms Help Uncover Biggest Import Violation in Iran

In Late 2016, leaked documents of the Islamic Republic of Iran Customs Administration revealed that a South Korean company, which later turned out to be LG Electronics, was fined $750 million dollars for violating Iran import regulations.

Later in January, in an interview with the Financial Tribune, a source at IRICA’s public relations, who spoke on condition of anonymity, explained that “this is the first such case considering the scale of the violation” and that there are “similar ongoing investigations for other companies as well”.

The source also told us that such findings have become possible as a result of reforms implemented by IRICA over the past few years, including the use of electronic equipment that has helped the administration create a “comprehensive database” for the first time. 


5. Iran Signs €500 Million Finance Deal with Denmark

Iran signed two agreements worth a total of €1.5 billion ($1.8 billion) with Austria's Oberbank and Denmark's Danske Bank on September 21. These were Iran’s first finance deals clinched with cautious European banks after the implementation of the nuclear accord provided sanctions relief in January 2016.

In mid-September, China's CITIC Trust signed an agreement signed between the company and five Iranian banks at CITIC Group headquarters in Beijing, based on which ta $10 billion credit line was extended for supporting projects in lran.


4. Iran's Yazd City Inscribed on World Heritage List

The historical city of Yazd in central Iran has become the country's 22nd world heritage site after the World Heritage Committee voted in favor of its inscription in July 20, 2017.

Yazd became the only UNESCO-listed Iranian city where people still live. It is also believed to be the world's largest inhabited adobe city.


3. Iran Signs $2b Refinery Expansion Deal With Daelim

In January, Tehran finalized an agreement worth $2 billion (2.3 trillion won) with South Korea's Daelim Corporation to renovate and expand a refinery in Isfahan Province.

In another update, South Korea’s Hyundai and Daelim Corporation and Japan’s Chiyoda Corporation inked a preliminary agreement worth $3 billion to develop Siraf Refining Park, a major downstream project in the city of Siraf in the southern Bushehr Province in mid July.

The agreement included the funding and construction of eight new petroleum processing facilities in Siraf by the East Asian consortium.

2. Why Iran Air Turned Down Boeing’s Offer for Two 747-8

In Boeing’s talks with Iran Air after major powers signed the nuclear deal with Iran in 2015, the American planemaker offered to sell two available wide-body 747-8 jetliners to the flag carrier, but the airline refused to take them

In an exclusive interview with the Financial Tribune, Farhad Parvaresh, the ex-chief executive of Iran Air, elaborated on why Iran Air missed the chance to receive two available Boeing planes.


1. Iran to Ditch US Dollar in Official Reports

The governor of the Central Bank of Iran announced that Iran will stop using the US dollar as its currency of choice in its financial and foreign exchange reports from the new fiscal year that begins in March.

Valiollah Seif gave strong hints that the country may opt for euro in releasing its key economic reports. 

"In other words, we have to set a currency as the basis of financial reporting that has better stability and greater application in our foreign trade," he said.

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