Economy

Nearly 170 metric tons of saffron was exported during the past Iranian calendar year (ended March 20), deputy head of the National Council of Saffron, Gholamreza Miri said on Monday. “Khorasan…

Iran has temporarily banned rice and sugar imports due to oversupply in the market, deputy minister of agriculture, Abbas Keshavarz told ISNA. “The sugar market is saturated with both domestic…

Remittances to and from Iran equally grew last year, according to the World Bank’s latest Migration and Development report. This new data lays bare the difficulties the government faces in…

While official records put the import of home appliances during the past Iranian year (ended March 20) at $450 million, data provided by auditing organizations indicate that more than $5 billion…

Iran’s economy is ready for a “take-off” as the authorities have unanimously come to conclude that economic affairs must be transferred to the private sector, former chairman of Tehran chamber of…

Deputy director of economic affairs in the ministry of cooperatives, labor and social affairs, Seyed Abbas Hosseini says the government, with parliament’s backing, has allocated 40 trillion rials…

The CEO of Bank of Industry and Mine announced that the specialized bank managed to get $2 billion in credits through the National Development Fund of Iran (NDFI) over the last year ( ended March…

Minister of Economic Affairs and Finance Ali Tayebnia made it clear that the government has no plans to manipulate the foreign exchange rates, saying the non-meddling policy was the direct opinion…

The masters of Iran’s finance met to discuss the troubles of the banking system late Saturday. The meeting was held in Tehran to get bankers on board with central bank policies and hear their…

The deputy manager of the Iranian Nomad Organization, Mirvali Safarzadeh, announced that all nomad population -- 17% of which already have insurance coverage -- will receive social security…

Based on a new initiative, the revenue made from exports to Russia can be transmitted without limits to Iran’s banking system.

The 4th international exhibition of elevators, escalators, lifts, conveyors and related components and equipment opened in Tehran's permanent fairground on April 25, with a focus on exports.

The National Iranian Copper Industries Company (NICIC) offered various types of commodities at the Iran Mercantile Exchange (IME) on Sunday trading.

Lack of faith in the landscape of the economy in the short run, and the uncertainties hovering over the issue of western sanctions are draining the equity market with the TEDPIX settling in red.…

Iran is willing to promote Halal brand in Europe, head of Trade Promotion Organization of Iran (TPOI), Valiollah Afkhami, announced on Sunday, as reported by IRNA.  The official made the…

The total economic value of Iran’s farmed animals including livestock, poultry, fish and honeybee is estimated at 1,030 trillion rials ($31 billion) by head of Iran Veterinary Organization, Mehdi…

Iran imports $600 million worth of tea annually; however the value of exports amounts to $20 million per year, the head of north of Iran’s tea farmers’ union said on Saturday, as reported by ISNA…

First Vice President Es’haq Jahangiri called for the development of knowledge-based companies, noting that it could help reduce the country’s dependence on oil revenues, and create job…

The cost of creating a single job in the cooperative sector is one third of that in other sectors, IRNA quoted a senior official at the ministry of cooperatives, labor and social welfare Alireza…

The Central Bank of Iran (CBI) on Saturday announced inflation rate of 15.5% for the twelve-month period ending on April 20, which marks the end of the first month of the new Iranian calendar year…

B usinesses are suffering from a “credit crunch” in the Iranian economy. For the right and wrong reasons businessmen are asking for cheaper money. They contend that with adequate financing,…

A decision to cut the deposit rate ceiling will not necessarily support the capital market in Iran, said an expert on Saturday.  

The marathon decision-making process to lower the…

A member of the parliament’s budget and planning committee has voiced his discontent with the way banks are currently conducting business.

In an interview with IRNA, Jafar Ghaderi, an MP…

Bad debts held by Iranian commercial banks have been rising in recent years since the financial institutions have chosen the interest rate as their main source of revenue. A former banking…

Minister of Industry, Mine and Trade, Mohammadreza Nematzadeh has anticipated that raw mineral exports will come to an end within the next three years as investments in the manufacturing sectors…