November 25th, 2013
02:15 PM GMT
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(CNN) -  The historic six-month agreement over Tehran's nuclear program may begin a new era of relations with Iran, but it will be a long road back for the country's most vital sector, oil.

Iran produces about two and half million barrels a day - far off its 4-million-barrel-per-day peak a decade ago. Output is hovering at a level last seen at the end of Iran's war with Iraq. With North Sea Brent crude averaging over $100 a barrel for a record three years running, the sanctions on energy alone are costing Tehran about $50 billion in lost annual revenue.

"During the six month phase, the oil sanctions that will remain in place will continue to cause over $25 billion in lost revenues to Iran or over $4 billion a month," he said.

With every year that has passed, the screws have been tightened by Washington and the countries of the European Union.  It was not only sanctions against oil, but also blocking Iran's ability to secure shipping insurance and to trade in U.S. dollars and euros.  That economic isolation, many Middle East strategists I have spoken with suggest, is what brought Iran's new government to the negotiating table.

Despite the deal breakthrough, U.S. Secretary of State John Kerry said most of the sanctions will stick as the world gauges the intentions of this relatively new administration in Tehran.

The message is clear: the pressure remains, but if all goes well, in a half year's time Iran can expect more in return for transparency.

It is still early days, but this country of nearly 80 million people has been described as potentially being the Germany of the Middle East with plenty of natural resources - that is, if it can emerge from years of economic isolation.

 



November 22nd, 2013
11:22 AM GMT
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The new Triple E is the world’s biggest container vessel, and it’s been produced by shipping company Maersk Line. CEO Soren Skou talks to CNN’s Executive Innovator about thinking big.

Filed under: Business


November 22nd, 2013
11:19 AM GMT
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India’s multinational Mahindra Group is best known for its utility vehicles – and its mantra is “alternative thinking.” Anand Mahindra, chairman, of the Mahindra Group, spoke to CNN's Executive Innovator about the importance of innovation.

Filed under: AsiaBusiness


November 19th, 2013
04:38 PM GMT
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Twitter co-founder Jack Dorsey might be a billionaire but his latest venture is designed to support small business. CNN's Maggie Lake caught up with the entrepreneur and founder of Square, the mobile payment system which is helping to build a community of small companies.



November 19th, 2013
04:37 PM GMT
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Luxury cars are hot property in the Middle East, but a new hypercar has upped the extravagant stakes. The $3.4 million Lykan HyperSport, built by Lebanese company W Motors, comes with a holographic display, 770 horsepower, LED lights encrusted with diamonds and sapphires and a 24-hour concierge service. But established brands pose fierce competition for the newcomer. CNN's Leone Lakhani takes a look at the luxurious new vehicle.



November 13th, 2013
02:52 PM GMT
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New technology is helping a woman who was born paralyzed walk for the first time. CNN's Sara Sidner reports on the amazing ReWalk suit, which is helping paraplegics do the impossible.

Filed under: Business


November 5th, 2013
02:50 PM GMT
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Due to its high nutritional value, quinoa has been dubbed a "superfood" and has exploded in popularity around the world. CNN's Nick Parker meets a Colombian business man who is pioneering efforts to cultivate and market the crop.

Filed under: Business


October 30th, 2013
09:59 AM GMT
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The Colombian government has been in conflict with the revolutionary guerrilla group FARC since 1964. CNN's Nick Parker meets a Colombian entrepreneur who is helping his country's defense forces with innovative life-saving technology.

Filed under: Business


October 22nd, 2013
02:54 PM GMT
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CNN's Ian Lee goes to Egypt to meet Faris Farrag, a former banker who now farms plants and breeds fish with an "aquaponic" system. Aquaponic systems rely on recirculation, meaning there is little waste and better efficiencies. On Farrag’s farm, gases exhaled by his fishes are pumped into the greenhouse, while oxygen produced by the plants is circulated back to the fish farm.

Filed under: Business


October 15th, 2013
02:32 PM GMT
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The Colombian city of Medellin was once famous for poverty and drugs violence. Now, after huge investment in the city's infrastructure, the Urban Land Institute has named it the world's most innovative city. CNN's Nick Parker reports.

Filed under: Business


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CNN International's business anchors and correspondents get to grips with the issues affecting world business, and they want your questions and feedback.

 
 
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