Economy

In a meeting with senior members of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) earlier this week Afghan President Mohammad Ashraf Ghani pledged to offer every possible…

The extraction and processing of minerals in mines affiliated to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) experienced growth in the past Iranian…

The Central Bank of Iran lifted a ban on one billion rial checks issued by Iran Zamin Bank, allowing the lender’s checks to be processed in all bank branches across the country.

The domestic economy is currently on the right track, said Central Bank Governor Valiollah Seif in an interview with CCTV America on Sunday.    

Iran’s financial system is dominated by banks. With a small and undeveloped stock market, the only way firms can raise money is through borrowing from them. This slaves the economy and businesses…

Saman Bank has started offering a new online service which enables customers to verify bank guarantees. Through the system, customers will have access to the amount, date of validity and bank’s…

Iran ranked 6th out of 179 countries in terms of having high Gross National Saving (47.3%) in 2014. Presented as a percent of GDP, it is derived by deducting final consumption expenditure from…

According to the minister of industry, mine, and trade, the production of 50 to 60 million metric tons of crude steel by 2025 – as targeted by the National Vision Plan – can be only achieved…

Khuzestan Oxin Steel Company, located in the southwestern city of Ahwaz, unveiled its new steel plates during a ceremony attended by the head of the Civil Servants Pension Organization (CSPO),…

According to the Trade Promotion Organization of Iran (TPO), Iran was the biggest exporter of steel to Iraq in 2013, Fooladnews reported on Wednesday.

Iran Mine House (IMH) has decided to form a special committee for mineral laboratories aimed at providing services to the private sector, Eghtesadnews cited deputy chairman of the IMH Mohammad-…

Wednesday trading at Iran Mercantile Exchange (IME) was accompanied by the offering of 227 tons of scrap metal in the secondary market by the Islamic republic of Iran Shipping Lines (IRISL), IME…

Stocks at the Tehran Stock Exchange (TSE) failed to get a boost with all indices settling in red, pushing the TEDPIX to mark its third consecutive negative trading day at Wednesday close.

The National Development Fund of Iran (NDFI) allocated €118 million to finance a steel ingot manufacturing project in Iran Alloy Steel Company (IASCO), IRNA reported. The NDFI will inject the fund…

For the first time in Iran's history, arc steel sections are being manufactured by Esfahan Steel Company (ESC), IRNA reported on Wednesday. The steel section, technically known as V21, is highly…

Women’s participation in the economy increased by 0.1% in the third quarter of the past Iranian calendar year (ended March 20) compared with the previous quarter, an official from the ministry of…

Passenger air transport grew by 11 percent in the past Iranian calendar year (ended March 20) compared to a year before, head of Iran’s Civil Aviation Organization (CAO) announced on Tuesday, as…

Iran is ready to link Bulgaria’s railway network with those of China and East Asian countries, ISNA quoted Minister of Roads and Urban Development Abbas Akhoundi as saying on Tuesday. He made the…

Iran’s agricultural trade deficit decreased by 32% in the past Iranian calendar year (ended March 20), reaching $5.4 billion from the preceding year’s $8 billion, Abdolmahdi Bakhshandeh, a senior…

Contrary to what was initially expected, the framework nuclear deal reached between Iran and the P5+1 group in the Swiss city of Lausanne on April 2 failed to stimulate the domestic housing market…

Establishing six new Free Trade Zones has been approved by the Supreme Council of Iran’s Free Trade, Industrial and Special Economic Zones and the bills will soon be submitted to the parliament…

The two-day technology conference titled ‘German Technology meets Iranian Textile and Carpet’ organized by the German Engineering Association (VDMA) in Tehran ended on Wednesday. The conference…

Four insurance companies have received penalties from the country’s main insurance regulator, Central Insurance of Iran (CII), IRNA reported on Tuesday. The four companies are Iran Insurance…

The plan proposed last year by Bank Maskan (Housing Bank) to increase the mortgage ceiling from 350 million rials to 600 million rials ($21,000 at official exchange rate) is now being assessed by…

Top managers of private and state-owned banks eventually agreed last week to set the deposit rate ceiling at 20% (for one-year deposits), down from 22%. The decision is yet to be finalized by the…