Economy

Bank Pasargad has been distinguished for its efficiency among 360 Islamic banks and financial institutions in the year 2015. Majid Ghasemi, the CEO of the bank, said Pasargad during its 9-year…

The parliament on Tuesday approved the single-urgency of a motion which would amend the usury-free banking law (first approved in 1983), with 151 votes for it, 4 votes against it, and 7…

Chadormalu Mining and Industrial Company said it supplied the domestic market with 10.32 million metric tons of iron ore concentrate last Iranian year (ended March 20), IRNA reported on Tuesday.…

The Tehran Stock Exchange (TSE) investors are still spooked by bearish trade at the TSE, after the TEDPIX ended another seesaw trading day in red at Tuesday close, to accumulate up to 4.3 percent…

The Iran Mercantile Exchange (IME)’s export trading floor played host to 261,650 tons of bitumen of various grades, offered by local suppliers on Tuesday trading, IME public relations reported.

The potential for the expansion of seaports, maritime repairs, shipping and transit in Iran is enormous, but economic activity at sea has so far been limited to gas and oil excavation works. With…

Based on statistics published by the ministry of industry, mine, and trade, 23.78 million metric tons of mineral products, worth $1.5 billion were exported in the past Iranian calendar year (ended…

Head of General Inspectorate Organization of Iran, Naser Seraj, criticized the excessive imports of steel, urging the officials to lend support to the domestic steel manufacturing sector, Mehr…

About 70,000 metric tons of chicken eggs were exported in the past Iranian calendar year (ended March 20), registering a record high compared to the preceding years, Eghtesad news quoted the head…

A delegation of 20 Pakistani officials, headed by the secretary general of the country’s southern Baluchistan province, took part in Iran-Pakistan Joint Border Meeting on Tuesday. The delegation…

Nearly 5,000 metric tons of honey, valued at $28 million, was exported during the past Iranian calendar year (ended March 20), senior official at the ministry of agriculture Mashallah Jamshidi…

Expansion of trade with Turkey will be a priority in the post-sanction era, said vice president for international affairs at Tehran’s chamber of commerce, industries and mine Mohammad Reza…

Swiss business representatives, who arrived in Tehran earlier this week, met with the business community and chairman of Iran Chamber of Commerce, Industries and Mines, Gholam-Hossein Shafei on…

Speaking during a ceremony to mark the National Labor Week on Tuesday, President Hassan Rouhani called for a shift from oil-dominated economy toward Resistance Economy. “We must be able to stand…

The government is planning to stop payment of cash subsidies to 6 million high-income Iranians by the end of the current Iranian year (March 19, 2016), deputy minister of cooperatives, labor and…

The decision on the long-debated issue of altering deposit and loan interest rates was set to be made today (Tuesday).

The Money and Credit Council chaired by the Central Bank Governor…

R epresentatives from 57 Omani businesses  visited Iran on Saturday. Oman has been a traditional partner of Iran since 1866, but the sultanate’s market, like several others, seems to have…

A single-urgency motion to amend the usury-free banking law was proposed jointly by juridical and economic committees of the parliament, Banker news website reported on Monday. The law was…

During a ceremony to mark the achievements of Bank Maskan (Housing Bank), minister of roads and urban development, Abbas Akhundi said the true potentiality of the bank has not been realized yet.…

Monday trading at Iran Mercantile Exchange (IME) was accompanied by the offering of various commodities on the industrial and mining trading floor, IME public relations reported.

Polymetallic mines with estimated reserves of about 10 million metric tons have been discovered in the southwestern Province of Chaharmahal and Bakhtiari, IRNA quoted head of the province’s…

The ministry of industry, mine, and trade is aiming to terminate the sales and export of raw minerals within the next two years. This is while many of the processing facilities in the mining…

Close to 75 percent of listed companies at the Tehran Stock Exchange (TSE) underperformed amid bearish sentiment at the equity market, with the overall index stumbling 0.95 percent to its 18-day…

Foreign investors are looking at the fast emerging opportunities in Iran, which is being referred to as one of the world’s last frontier markets. A few institutional investors have already beaten…

Tariff rates on aquatic exports to Eurasian Economic Union (EAEU) based on Preferential Trade Agreements (PTAs) with the member states have been reduced from 26 percent to 7 percent, deputy…