globalEDGE Blog - By Tag: Iran

For the past few weeks, Western states have not only imposed sanctions on Iran, but also convinced many Asian countries to do the same.  These sanctions are an economically crippling bargaining technique to pressure Iranian officials into discontinuing their uranium enrichment program, which American and European officials claim to be a nuclear weapons program with malicious intent but Iranian officials claim to peaceful and a national right.  Furthermore, many financial institutions that interact closely with Iran’s central bank have also been targeted.  The assets of Iran’s central bank are currently frozen that are linked to Tehran.

Read More...

Some people say Wal-Mart, others say Carrefour, but Iran is saying Hyperstar. Hyperstar, found in western Tehran, is Iran’s first large U.S.-style supermarket, financed by a businessman from the United Arab Emirates. It is becoming incredibly successful with an average of 15,000 customers a day! Shoppers consist of mainly middle-class residents who show an increasing interest in shopping and traveling.

Read More...

An attempt by Iranian President Mahmoud Ahmadenijad to change the Iranian economy through the implementation of a new sales tax was met with heavy opposition by Iran’s merchant class, the primary bearers of the new tax.

According to the Washington Post, angry shopkeepers refused for the second straight day to open their stores in the central bazaar city of Esfahan. Shopkeepers in other Iranian cities such as Tehran, Mashad and Tabriz also refused to sell goods.

Read More...