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August 21-25, 2000 / Mordad 31-Shahrivar 4, 1379

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BUSINESS NEWS INDEX

Friday,
August 25, 2000

Japan sets its sights on opportunities in Iran

Financial Times (London), August 24, 2000 -- Japan was to defy the world again more than four decades later when several countries withdrew their ambassadors from Tehran in 1997 after a German court linked Iran with the assassination of Kurdish leaders in Berlin. Japan stopped official dialogue for a few months but took no other action >>> FULL TEXT

Tehran moves to encourage more inward investment

Financial Times (London), August 24, 2000 -- Iran's parliament yesterday approved a draft law to encourage direct foreign investment, a move welcomed by the foreign business community as a step in the right direction. However, businessmen warned that a conflict of interests with the Islamic Republic's constitution could still throw up significant barriers >>> FULL TEXT

"Problem" forces flight to return to Tehran

TEHRAN, Aug 25 (AFP) - An unspecified "problem" forced a Paris-bound Iran Air Boeing 747 to return to Tehran's Mehrabad airport Friday minutes after taking off, passengers told an AFP correspondent after landing >>> FULL TEXT

INDEX

INDEX

* Japan sets its sights on opportunities in Iran
* Tehran moves to encourage more inward investment
* "Problem" forces flight to return to Tehran
* Iran think-tank seeks gas exporters' union
* Iran ends state monopoly on caviar exports
* Norway's Saga wins drilling contract in Iran's western provinces
* Iran Air says capacity hit by costs, U.S. sanctions
* Tax revenues up in smoke as two out of three cigarettes contraband
* Parliament approves direct foreign investment * Clinton to push OPEC to lower oil prices
* Iran 's buyback negotiator set for London post
* Iran to create "tourist police" to protect foreign visitors
* Doom and gloom among carpet makers as Tehran fair opens
* Parliament mulling ways to boost foreign investment
* Kharrazi suggest long-term oil contract with S. Africa
* Japanese energy delegation arrives in Tehran
* Iran says it makes big oil, gas find
* Iran says it holds up to three billion barrels of oil in Caspian

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Thursday
August 24, 2000

Iran think-tank seeks gas exporters' union

STAVANGER, Norway, Aug 24 (Reuters) - An Iranian think tank said on Thursday it had proposed to the country's energy ministry the formation of an international gas exporters' cartel as a forum to share experience and plan strategy.

"We have proposed to the ministry an idea to form a union of gas exporting states... We want to learn from each other," Seyed Abdoljabad Alavi, director of international affairs at the Institute for International Energy Studies, told a group at the Offshore Northern Seas conference >>> FULL TEXT

INDEX

Iran ends state monopoly on caviar exports

TEHRAN, Aug 24 (AFP) - Iran has ended its state monopoly on the export of caviar in a bid to revive the sluggish industry, the director of the national fisheries industry said in Thursday's newspapers. Khodakaram Jalali said "interested firms" would be supplied with sturgeon in a bid to encourage the private sector, as the price of caviar has skyrocketed some 70 percent in the past year >>> FULL TEXT

INDEX

Norway's Saga wins drilling contract in Iran's western provinces

TEHRAN, Aug 24 (AFP) - Norway's Saga Petroleum has won the exploration and drilling contract for oil-rich areas near Iran's western city of Dehloran, the official IRNA news agency reported Thursday. It cited provincial officials saying that Saga had signed the contract with Iranian oil authorities and would begin seismographic research and drilling soon >>> FULL TEXT

INDEX

Iran Air says capacity hit by costs, U.S. sanctions

TEHRAN, Aug 24 (Reuters) - Iran 's national airline cannot increase capacity in line with growing demand because of U.S.-imposed sanctions and budget limitations, the airline's managing director said. "Because of financial limitations and the issue of sanctions, plans to add to our airliners were scrapped," Ahmad Reza Kazemi was quoted by Kar Va Kargar newspaper as saying on Thursday >>> FULL TEXT

INDEX

Tax revenues up in smoke as two out of three cigarettes contraband

TEHRAN, Aug 24 (AFP) - Iran is losing out on tax revenue from tobacco because two out of three cigarettes smoked nationwide are smuggled into the country, the official IRNA news agency said Thursday. "Currently 45 billion cigarettes are smoked annually in Iran, 30 billion of which are smuggled into the country without earning any tax revenue for the government," free-trade zone official Hossein Nasiri said, cited by IRNA >>> FULL TEXT

INDEX

Wednesday
August 23, 2000

Parliament approves direct foreign investment

TEHRAN, Aug 23 (AFP) - Iran's reformist parliament on Wednesday passed legislation that would for the first time authorise and protect direct foreign investments in Iran. The bill marks a success for the reform movement of President Mohammad Khatami, who has been under fire for his inability to revive the sluggish economy >>> FULL TEXT

INDEX

Clinton to push OPEC to lower oil prices

WASHINGTON (Reuters) - President Clinton said Wednesday that crude oil prices were too high and that they needed to drop to sustain economic growth, adding that he would discuss OPEC output with members of the oil cartel. Speaking to reporters, Clinton said he would bring up the issue of OPEC oil output with Nigerian President Olusegun Obasanjo during his visit to the African nation this weekend. Nigeria is a member of OPEC and the cartel meets in Vienna on September 10 to discuss its new production levels >>> FULL TEXT

INDEX

Iran 's buyback negotiator set for London post

LONDON, Aug 22 (Reuters) - Veteran Iranian oil and gas buyback negotiator Seyed Mehdi Hosseini is heading to the National Iranian Oil Company's London branch to run the KALA upstream oil procurement arm, industry sources said on Tuesday. Deputy Oil Minister Hosseini - who hammered out a number of buyback development deals with foreign oil companies - is due to arrive in about three months to take over from Ardeshir Fathi Nejad, an oil executive said >>> FULL TEXT

INDEX

Iran to create "tourist police" to protect foreign visitors

TEHRAN, Aug 23 (AFP) - Iran's tourist organisation will set up a special security force in cooperation with the country's police aimed at protecting foreigners visiting the country, the Khorassan daily reported Wednesday. According to the report, the new "tourist police" will be charged with protecting tourists "across the country's main tourist attraction centers and cities as well as airports and transportation terminals," said Rasoul Akbari, head of the Khorassan tourism organisation >>> FULL TEXT

INDEX

Tuesday
August 22, 2000

Parliament mulling ways to boost foreign investment

TEHRAN, Aug 22 (AFP) - Iran's reformist parliament held a closed-door session Tuesday to discuss ways of lowering the barriers to foreign investment in the Islamic republic, sources told AFP. Economy Minister Hossein Namazi, Intelligence Minister Ali Yunessi and central bank chief Mohsen Nourbakhsh were among the participants but there were no further details available on the session, they said >>> FULL TEXT

INDEX

Doom and gloom among carpet makers as Tehran fair opens

TEHRAN, Aug 22 (AFP) - Carpets from across Iran went on show at Tehran's ninth carpet fair Tuesday, but exporters were gloomy about the future of the country's most famous craft in the face of bureaucratic obstacles and competition from inferior foreign products. A total of 130,000 precious carpets from all 28 provinces will be on show for six days at the fair organised by the trade ministry. Persian carpets, regarded as the best in the world, are the country's second most important export after oil, with some eight million of the country's 62 million people involved in the industry >>> FULL TEXT

INDEX

Kharrazi suggest long-term oil contract with S. Africa

PRETORIA, Aug 22 (AFP) - Iranian Foreign Minister Kamal Kharazi said Tuesday he hoped along-term oil contract could be concluded between his country and South Africa. "I'm here to upgrade the level of trade between South Africa and Iran," he told journalists in Pretoria at the start of the fifth meeting of the South-African-Iran joint economic commission >>> FULL TEXT

INDEX

Monday
August 14, 2000

Japanese energy delegation arrives in Tehran

TEHRAN, Aug 21 (AFP) - A Japanese delegation arrived in Tehran Monday for two days of meetings with Iranian officials, state radio said, in what are the first-ever high-level direct energy talks between the two nations. The delegation, linked to Tokyo's powerful Ministry of International Trade and Industry (MITI), is to meet Oil Minister Bijan Namdar-Zanganeh and central bank chief Mohsen Nourbakhsh, it said >>> FULL TEXT

INDEX

Iran says it makes big oil, gas find

TEHRAN (Reuters) - Iran has made new discoveries of 1.07 billion barrels of oil and 800 billion cubic feet of gas, an energy official was quoted on Sunday as saying. Mahmoud Mohaddes, director of exploration at the National Iranian oil company, told state television that more reserves could be found after drilling a number of appraisal wells in the Changuleh field in western Ilam province >>> FULL TEXT

INDEX

Iran says it holds up to three billion barrels of oil in Caspian

TEHRAN, Aug 21 (AFP) - Iran said Monday that the oil reserves in its part of the Caspian Sea amount to between 2.5 and three billion barrels, state radio reported. "Preliminary studies of the Caspian Sea reveal that some 2.5 to 3 billion barrels belong to Iran," said Mehdi Mir-Moezi, the deputy head of the National Iranian Oil Company, cited by the radio >>> FULL TEXT

INDEX


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