Economy of Iran

Defense lawyers asked a U.S. federal judge on Oct. 5 to throw out a case against an Iranian-Turkish tycoon accused of defying sanctions on Tehran.

The National Iranian Oil Company (NIOC) on Oct. 4 signed a new style output contract with an Iranian firm, a long-awaited template for new contracts it hopes will attract foreign energy investors back to boost output after years of sanctions.

Readymade clothing exports by Turkish companies hit $237 million in the first eight months of the year with a 219 percent increase from the same period of 2015, Istanbul Readymade Clothing and Confection Exporters' Association (İHKİB) President Hikmet Tanrıverdi has said. 

A leading Iranian economy official in Ankara has said Turkey and Iran have been in talks to increase the number of items within the scope of their preferential trade deal and the two sides will sign a free trade deal if these items hit 265. 

Despite hopes of a new dawn for Iran's economy after nuclear-related sanctions were lifted, major Western banks are reluctant to do business with the Islamic republic for fear of U.S. retribution.

Putting an end to all speculation, Japan has agreed to help India develop the strategically important Chabahar port of Iran.

Turkish energy company Unit International has reached a deal worth $4.2 billion with Iran's Energy Ministry to build seven natural gas power plants, in what it said was the biggest investment in Iran since the lifting of sanctions.

Serbia's public debt stood at EUR 24.44 billion at the end of March, the Ministry of Finance said on Wednesday.

The state's total direct liabilities in March stood at 22.15 billion, and indirect at 2.29 billion.

India has announced that it will try hard to complete the Chabahar port project in Iran as soon as possible in an attempt to get easy access to West and Central Asia, bypassing Pakistan.

An indictment for Reza Zarrab, an Iranian-born Turkish businessman who was arrested in Miami a month ago over attempting to evade U.S. sanctions on Iran, has expanded from New York to include "Turkey, the United Arab Emirates and elsewhere" as places where the crime may have been committed.