A member of Majlis Budget Commission announced that based on Act 35 of amendments to the Budget Law of 2015-16, the government will now be able to use forex resources to clear out 350 trillion…
Business And Markets
<p>Iran Business And Markets News, Get the latest business news about Iran including banking, stock market, real estate market, steel industry, mining, trade finance, fintech and insurance.</p>
The number of home sales in the current fiscal year (started March 20) has been on the rise, but that does not necessarily mean the housing sector has successfully managed to escape recession, the…
Banks doled out 934 trillion rials ($30 billion at market exchange rate) to various economic sectors in the three months ending June 20, with the industry and mining sector grabbing 30% of the…
Mouteh Gold Mine produced 92 kilograms of gold bullion during the first four months of the current Iranian year (March 20-July 20), which shows a 19% rise compared to the same period last year,…
Global production of potato is increasing and there is ample capacity for activity in the related processing industry. In Iran, 150,000 to 160,000 hectares are under potato cultivation, from which…
Iran is among countries the European Union has threatened to hit with tariffs to check their exports of hot-rolled flat iron and alloy and non-alloy steel products to the continent.
Other…
Tehran Stock Exchange’s main index lost 379.90 points or 0.48% to end Monday trade at 78,324.7.
More than 824 million shares valued at $51.9 million changed hands for the day.
Omid…
Over 16 million tons of cement are currently in warehouses due to low demand, according to deputy minister of industries, mining and trade Jafar Sargheyni, Mehr News Agency reported. The Iraqi…
Lawmakers on Monday allowed the government to settle its debts to the banking system through Central Bank of Iran’s foreign exchange resources for one year as part of the amendment to the 2016-17…
The central banks of Iran and Azerbaijan on Sunday agreed to connect the two countries’ payment networks to ease money transactions for tourists and traders.
Life insurance accounted for 14.8% of industry’s premiums generated during the first quarter of the current fiscal year (started March 20), marking a growth of 2.9% compared with the same period…
The Banking Overhaul Plan–enacted by President Hassan Rouhani to transform the outdated banking system–consists of several aspects, including a focus on core banking and a unified data platform,…
With the easing of sanctions, foreign exchange services of Bank Melli Iran have experienced a significant rise, the bank announced. In the first three months of the current fiscal year ending June…
Iranian banks have established corresponding relations with about 450 foreign banks since the lifting of the sanctions in January, said the vice president for executive affairs.
Iran is actively working over the balancing of steel production chain by expanding upstream segments to feed the future needs of the industry. Nevertheless, depending on the growth rate of steel…
More than 10 million tons of wheat worth about 128 trillion rials (more than $3.6 billion at current market exchange rates) have been purchased from local farmers by the government since the…
Tehran Stock Exchange’s main index gained 379.70 points or 0.48% to end Sunday trade at 78,704.6.
More than 1.2 billion shares valued at $87.7 million changed hands for the day.
Iran…
The government is pushing to wrap up the forever delayed construction of the so-called Tehran-North Freeway, a major road project connecting the capital to the famous tourist resort city Chalus in…
The Netherlands has taken practical steps to expand economic ties with Iran as is evident in the regular visits to Tehran by high-ranking Dutch officials. A joint economic commission has been…
Even with a significant annual rise in loan allocation during the first quarter of the current Iranian year (started March 20), the Central Bank of Iran’s Governor Valiollah Seif said the banks…
The government plans to present amendments to the 2016-17 Budget Law once again, the Central Bank of Iran's deputy for economic affairs said.
Unreal foreign currency rates, high import tariffs and lenient penalties for smugglers are adding fuel to the fire of illegal trade. This complaint was made by Mohsen Bahrami Arz Aghdas, head of…
Cooperation between Russia and Iran in the pharmaceuticals sector is on the upswing. Recently, Petrovax Pharm, a leading Russian pharmaceuticals innovator, signed a deal with Iranian counterpart…
Indian steel and energy company Jindal Steel and Power Limited says it will ship head hardened rails – a specialty finished steel product – to Iran. The unique product which has applications in…
Khuzestan Oxin Steel Company’s first shipment of rolled steel products valued at about $4.4 million was exported to Germany and Italy last week via Khuzestan Province’s Imam Khomeini Port, the…
