• New Forex Initiative Unable to Tip Scales

    The new forex initiative has only managed to fix major policy mistakes of the past two quarters, which is not enough to control profiteering in the foreign exchange market.
    The above statement was made by economist Vahid Shaqaqi Shahri in an interview with ISNA.
    The new forex policy announced by Abdolnasser Hemmati, as his first move as the new head of the Central Bank of Iran, has managed to prevent the rise in forex market prices and consequently of gold coins, to some extent. 

Economy

Iran economy news, Get the latest news about Iran economy, trade, growth prediction, agriculture, transport, aviation, infrastructural developments and investment opportunities.

  • Potato Seeds Imported From  5 Countries
    08/16/2018
    More than 875 tons of potato seeds worth $1.63 million were imported into Iran from five countries during the last Iranian year (March 2017-18), data released by the Islamic Republic of Iran...
  • Central Bank of Iran Against Market Intervention
    08/16/2018
    Central Bank of Iran's Governor Abdolnasser Hemmati said the regulator's policy under his watch continues to be non-intervention in the foreign exchange market. "We have said repeatedly that we do...
  • Over €81m Worth of Airport Equipment Purchased  Post JCPOA
    08/16/2018
    Iran Airports & Air Navigation Company, an arm of the Ministry of Roads and Urban Development, has purchased €81.38 million worth of airport equipment since the nuclear deal was signed between...
  • Tehran Shows 4th Biggest Upturn in Economist’s Livability Index
    08/16/2018
    Tehran is one of the top five cities in the world to have improved by 5 percentage points or more in livability over the past five years, according to the Economist Intelligence Unit.  The scores...
  • Shaparak Transactions Show Strong Growth
    08/16/2018
    About 1.77 billion transactions worth 2.03 quadrillion rials ($48.33 billion) were transacted by Shaparak...
  • Persian Melon Exports Earn $34 Million
    08/16/2018
  • Tehran Home Rents Up 26.7 Percent in Q1
    08/16/2018
    The average price of renting a residential unit in Tehran jumped significantly on a year-on-year basis...
  • Aluminum Output Rises 11%
    08/16/2018
    Iran’s major aluminum companies produced an aggregate of 121,909 tons of aluminum products during the first four months of the current fiscal year (March 21-July 22), which indicate an 11% increase...
  • New Forex Initiative Unable to Tip Scales
    08/16/2018
    The new forex initiative has only managed to fix major policy mistakes of the past two quarters, which is not enough to control profiteering in the foreign exchange market. The above statement was...
  • Date Exports Grow 27.7% to $102m in 4 Months
    08/16/2018
    Close to 89,220 tons of different kinds of dates worth more than $102 million were exported from Iran to 69 countries during the first four months of the current Iranian year (March 21-July 22)....
  • IKCO Has Offered 274,000 Cars Since March
    08/16/2018
    Since the beginning of the current fiscal that started in March, Iran’s largest auto manufacturer, Iran Khodro has sold and presold 274,000 cars. Since March, the value of the rial has plummeted...
  • TEDPIX Ends Week Lower
    08/16/2018
    Tehran Stock Exchange’s main index lost 450.82 points or 0.34% on Wednesday to end trading at 130,476.9. About 1.15 billion shares valued at $44.99 million changed hands at TSE for the day....
  • Auto Market Sees  Price Spikes Again
    08/16/2018
    US pressure on Iran’s key auto industry coupled with domestic faulty policies have pushed up car prices once again, only a few days after the introduction of the government’s new forex policy which...
  • S. Korea Bans Recalled BMWs Over Fire Fears
    08/16/2018
    The South Korean government has said it will ban about 20,000 BMWs from its streets after...
  • Afflictions of Higher Education: Degreeism, Poor Supervision
    08/16/2018
    Less than a decade ago, education, especially in prestigious universities, was considered a powerful cultural asset, but now the phenomenon of non-conformity of education with what a person does to...
  • VDMA Backs Iran Trade
    08/16/2018
    Germany’s plastics and rubber machinery trade association, VDMA, has highlighted the importance...
  • Gold Jewelry to Get VAT Exemption
    08/16/2018
    A bill is under review by parliamentary committees to boost the gold jewelry sector by exempting domestic producers from a 9% value-added tax on sales, the head of Gold and Jewelry Union said. “In...
  • Musk Bid for Tesla Still Murky
    08/16/2018
    Tesla Inc’s board named a special committee of three directors on Tuesday to decide what to do about...
  • Equity-Based Sukuk Return to Iran Capital Market
    08/16/2018
    The government is set to clear part of its debt to Social Security Organization by issuing 12 trillion rials ($150 million) of equity-based Ijarah sukuk on the capital market. The three-year bonds...
  • 9,000 Physicians Failed to File Tax Returns
    08/16/2018
    Of the nearly 20,000 physicians registered with the Tax Administration of Tehran Province, only 11,000 have filed their tax returns for the last fiscal year (ended March 20, 2018), director of the...
  • Decline in Non-Oil Trade With Taiwan
    08/16/2018
    Iran traded 455,922 tons of non-oil commodities worth $326.43 million with Taiwan during the first four months of the current fiscal year (March 21-July 22), registering a 19.31% and 7.57% decline...
  • New Government Policies Reduce Forex Demand
    08/15/2018
    The implementation of new foreign exchange policies by the Iranian government has meaningfully curbed unnecessary demand for cheap currency, the industries minister said.   Addressing a gathering...
  • HSA Growth Beats Expectations
    08/15/2018
    More than 480,000 people have opened Bank Maskan’s Housing Savings Account that offers Iran’s cheapest home loans since its inception about three years ago, the bank’s chief executive said. “Some...
  • Call for Combating Online Gambling
    08/15/2018
    Telecoms Minister Mohammad Javad Azari Jahromi has urged the Central Bank of Iran to help crack down on online gambling which, he warned, is spreading at an alarming rate. “There have been reports...
  • How Turkey’s Lira Crisis Could Impact Iran
    08/15/2018
    Over the past week, the value of Turkish lira collapsed yet another time.  At first glance, this seems like a problem peculiar to Turkey, but economists are warning that the Turkish lira’s slide...

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