Economy

Deputy director of the Iranian National Tax Administration (INTA), Alireza Taari, has confirmed that the rate of value-added tax (VAT) through the current Iranian calendar year (started March 21)…

The rial fell against the dollar and gold coins on Sunday, as stocks retreated from 4-month highs, with investors hedging their bets and locking in profits.

The first market maker or liquidity provider in the Iranian equity market for pharmaceutical industry started operation under Bank Keshavarzi (Bank of Agriculture), after receiving a go-ahead from…

Tose’e financial and credit institution is offering 22 percent interest on one-month deposits, defying a central bank decision that the maximum rate should only be applied to one-year deposits,…

M utual funds had their worst year since the first started working in 2008. That doesn’t say much for a seven-year-old industry, but the bear market that took over the Tehran Stock Exchange in the…

A number of European banks have made contact with banks in Iran after the nuclear framework agreement was reached between Iran and the P5+1 (five permanent members of the UN Security Council plus…

Lopping zeros from the rial is not high on the agenda of the Central Bank of Iran or the Money and Credit Council (MCC), a lawmaker said in an interview with ISNA.

MINI has shown off their new concept in driving assistance, an augmented windscreen which highlights coming up potential incidents, World Car Fans reported on Saturday. The new system isn't…

Toyota Motor Corporation is to introduce a new Lexus model in China for the second year in a row, highlighting a completely redesigned ES sedan in Shanghai this month, Bloomberg reported on Friday…

Iran's auto sector has seen a boost in production since it was exempted from US sanctions under the Geneva interim nuclear accord reached in November 2013 and executed in January 2014. With the…

Citroen is conserving a new naming structure to better help distinguish its cars within parent PSA Peugeot-Citroen's line up, Autonews Europe announced on Friday.

New registrations of cars have been banned since March 18, and will continue until April 30, ISNA reported on Friday. The report notes that registered car importers are obliged to renew their…

In anticipation of a boost in sales, national auto producers Saipa and Parskhodro increased prices of their products between two million rials ($60.8 at free market rate) to 10 million rials ($304…

Various trading floors at the Iran Mercantile Exchange recorded the offering of more than 121,000 tons of commodities by local suppliers on Saturday trading, IME public relations reported. The oil…

The Islamic Republic of Iran and the Sultanate of Oman have close diplomatic relations. Muscat, which has always tried to take a neutral stance in the regional political arena, maintains good ties…

Stocks registered their second rout in Tehran Stock Exchange (TSE) on Saturday since the beginning of the new Iranian year, which started March 20, with petrochemicals dragging down the benchmark…

Even though Iran is ranked globally as the 11th iron ore producer and the fourth supplier to China – the world’s biggest buyer of iron ore — next only to Australia, Brazil, and South Africa, the…

More than 2.7 million tons of commodities worth over $295 million were exported to Iraq in the past Iranian calendar year (ended march 20), via Mehran border crossing, showing an increase of 4…

Iran’s water resources supervision index in the second half of the past Iranian year (ended march 20) indicates that 13 provinces are suffering severe water shortage while 7 provinces are facing…

The high levels of import of certain goods during the past few years has caused problems for the economy, said Ali Fazeli, the head of Iran Chamber of Guilds. Lack of proper management over the…

In today’s globalized world, making trade between economies easier is becoming increasingly important. Excessive document requirements, burdensome customs procedures, inefficient port operations…

Shareholders will gain more after international sanctions are lifted, as more liquidity will flow into the equity market in upcoming months, a market expert said.

Given the fact that the administration has successfully improved business environment and the economy, the banking system will have the opportunity to offer services abroad, said a senior central…

The Central Bank of Iran is a playground for politicians. Its policies are set by a board heavily influenced by the government. Thus, it has to cover shortfalls in fiscal policies via monetary…

A return to pre-sanctions era, when Iranian banks were well connected with international banks, will take at least four to seven months, said a managing director of a privately-owned bank in…