Economy

Iran supplies only 5% of Iraq’s annual demand for steel (8 million metric tons), a member of the Iranian Steel Producers Association (ISPA) told IRNA, adding that Iran’s share in Iraq’s steel…

In a metallic trading day at the Iran Mercantile Exchange (IME), Khuzestan Steel Company (KSC) offered almost 135,000 tons of bloom on the industrial and mining trading floor on Sunday, IME’s…

The financial statements have been signed to help remove the last obstacle in the way of privatization of the two major state-owned football clubs, Persepolis and Esteghlal, said Jaafar Sobhani,…

Mobarakeh Steel Company has established the first production line for interstitial-free (IF) steel, reported iribnews on Saturday. IF is mainly used in manufacturing car bodies. It has typically…

The new management of the Securities and Exchange Organization has provided a 5-year comprehensive plan to transform Iran's bank-based financial system into a market-based system – with special…

The administration would not tolerate any delays in the implementation of major steel projects across the country, said the minister of industry, mine and trade during his visit to a steel project…

The Iron Ore Producers and Exporters Association of Iran (IROPEX) criticized the government for a 300% increase in mining royalties, mentioning Australia as an example that reduced the mining…

Railway development is quite costly and over $27 billion in infrastructure investment is required to transfer 20 percent of freight and passenger traffic from road to rail by 2025, Abbas Akhundi,…

Farmers want the Rouhani administration to increase the guaranteed price for wheat at the official exchange rates, Masoud Asadi, the chairman of the supervision council of agricultural…

Inflation decreased further in the Iranian month of Azar (ending December 21) to 17.2 percent, the Central Bank of Iran said Saturday, though the year-on-year inflation shows an increase for the…

Iran’s exports to Italy reached $79.2 million in October 2014 from $10.24 million in October 2013, recording an eightfold increase compared with the same period last year, TNA reported Saturday…

Member of parliament and chairman of the Budget and Planning Committee, Gholamreza Mesbahi Moghadam, has proposed restricting government cash subsidies “only to those at the bottom” of the…

Iran’s new Ambassador to Tajikistan Hojatollah Faghani and Tajik Minister of Labor, Migration, and Employment Sumangul Tagoeva on Saturday explored avenues for bolstering bilateral cooperation in…

Import tariff on home appliances has increased this year to 85 percent from 55 percent last year, said Habibollah Ansari, secretary general of the Home Appliance Association, as reported by IRNA.…

Iran’s Trade Promotion Organization (TPO) and the Islamic Republic of Iran Customs Administration (IRICA) have signed a memorandum of understanding (MoU) to create an integrated online system for…

One hundred airplanes are grounded in Iran due to financial problems of domestic airliners caused by western sanctions, Mohammad Ali Ilkhani, managing director of the Iranian Airports Company (IAC…

Currency prices will not fluctuate like the past, as the central bank now has the power to calm the market, said economy minister Ali Tayebnia. He responded to a question on whether the recent…

Allegations that the government withdrew $4.1 billion from the country’s sovereign wealth fund, are baseless, said the government’s spokesman, Mohammad Bagher Nobakht.

“Those who have…

Trade between Iran and Ireland has been hampered in recent years due to the ongoing closure of the Irish embassy in Tehran. In 2012, the Irish government decided to shutter the embassy stating a…

Japan is willing to make investment in Iranian infrastructure projects, including the under construction Isfahan-Tehran high-speed railway, ISNA reported on Saturday.

Standard Chartered Plc. has hired two former prosecutors to police its transactions for criminal activity, a spokesman said on Friday, as the British bank wrestles with a series of legal and…

After six months, China has eventually announced the offering of €18 billion in credit to the giant industrial projects in Iran, Tasnim news agency reported on Friday. Beijing has already agreed…

The parliament is mulling over to set the guaranteed price of agricultural commodities via the Iran Mercantile Exchange. Formerly, the government guaranteed farmers to purchase their products but…

Over 66% of the plan drawn up to produce copper cathodes in the current Iranian calendar year (ending March 20, 2015) has been realized, IRNA reported on Friday citing a top official at the…

The annual 20-million-metric-ton sThe annual 20-million-metric-ton surplus in the cement sector together with theurplus in the cement sector together with the continuous stagnation in the capital…