Economy

Close to 205,000 tons of goods were offered on the spot and secondary market of the Iran Mercantile Exchange (IME) on Monday trading.

According to IME public relations, about 4,000 tons of…

The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has managed to absorb 200 trillion rials (over $7 billion based on official currency exchange rate) in…

New Congestion Zone ID cards can be used in the banking network from May 22. Congestion Zone ID cards for the fiscal year which started March 21, can be used in the public transport and parking…

A lawmaker has downplayed the real effects of the recent decision by the Money and Credit Council to cut interest rates, saying that lack of transparency by certain businesses hampers initiatives…

The recent cut in the deposit rate ceiling, from 22 percent to 20 percent, will probably help send part of the savings to the equity market, an expert has said.

Details of a bilateral currency swap agreement between Iran and Russia was revealed on Monday. The deal was made to settle mutual payments by elimination of the US dollar and euro as trade…

Bureaux de change will get legal status by obtaining official permits from the Central Bank of Iran (CBI).  The director of CBI's regulatory and anti-money laundering office said the move is…

Bank Melli plans to expand its foreign exchange operations, said its chief executive, Abdonasser hemati. The official told the press on Monday that the lender is moving to do so as “mobilizing…

President Hassan Rouhani has called for a national movement to opt for domestic products instead of foreign brands.

For more than 35 years, western sanctions against Iran's aviation industry have forbidden the world's major aviation manufacturing companies to do business with Iran. However now, commercial…

It was hard to assume that private businesses in Iran would one day  deliberate on pumping money into the Syrian market, a market of roughly 23 million people that is all but cut off from the…

All the cigarettes sold in the Iranian market under the brand Marlboro are smuggled as there is yet no official permission issued for the import of this brand, said deputy minister of industries,…

As it was predicted earlier the preferential tariff agreement (PTA) deal between Tehran and Ankara, which came into force in January, is working more to the benefit of Turkey than Iran. Turkey’s…

More than 5 trillion rials ($178.5 million based on official exchange rate) worth of goods was exported from Aras Free Zone (AFZ) during the past Iranian year (ended March 20), recording an…

The Iran Mercantile Exchange’s export trading floor listed the offering of about 32,300 tons of bitumen, 22,000 tons of vacuum bottoms, 3,000 tons of lube-cut oil, and 1,600 tons of sulfur on…

The minister of industry, mine and trade has described the auto, home appliance, steel, cement and food sectors as the country's leading industries.

Iran and Guinea have moved to reactivate a bauxite mining project in the West African country, after a 23-year delay.

Innovations in the window and door sectors have resulted in a surge towards the use of UPVC (unplasticized polyvinyl chloride) in the construction industry, which is rapidly replacing the…

Stocks massively underperformed at Tehran Stock Exchange on Saturday trade, dragging down the overall index to keep wiping out the gains it made earlier this year (started March 21) after a…

The central bank deputy governor for foreign exchange affairs announced on Sunday that several bilateral currency swap agreements have been signed between Iran and Turkey, Iraq and Russia, aiming…

A Karafarin Bank Stakeholder failed to liquidate his stake on Thursday.

The stakeholder, Hamed Hakimi, wanted to sell one percent of Karafarin’s shares but failed to secure a single buyer,…

Last week’s decision by the Money and Credit Council is now affecting the ‘sight deposits’ which used to enjoy, in some banks or financial institutions, attractive rates of 22-24%, though the…

The Central Bank of Iran officially lowered sterling's exchange rate versus the rial on Sunday, to keep pace with international developments in foreign exchange markets.

The Central Bank of Bahrain (CBB) placed two Iranian financial institutions into administration as of April 30, according to Bahrain’s media. No explanation, however, has been provided for the…

Although the removal of western sanctions can open new vistas for Iran to engage with the international community, one should not expect that all the problems the economy has been grappling with…