Economy

Last year was bleak for shareholders in Tehran. Risk aversion was high. Money sipped away from the equity markets as banks soaked up deposits. Heavyweight industries in the Tehran stock Exchange,…

Iran Insurance Company (IIC) will increase the compensation payment ceiling for Compulsory Motor Third Party Liability Insurance (CMTPL) to 2.2 billion rials ($78,000 at official exchange rate)…

The Tehran Stock Exchange (TSE) overall index lost steam Tuesday amid skeptical sentiments and overreactions.

A  report released by the International Monetary Fund (IMF) this week showed a growing interest in Islamic banking among the lenders, which is expanding in much of the world. Last October,…

The Iran Alloy Steel Company (IASCO) produced more than 419,000 metric tons of alloy steel in the Iranian calendar year 1393 (ended March 20), indicating 8% growth compared to the previous year,…

Ilam Cement Company exported more than 1 million metric tons of cement during the past Iranian calendar year (ended march 20), IRNA reported. A company official, Hassan sabbagh-Bigdeli spoke of…

Google has announced that it has been in intense talks with Hutchison Whampoa, the owner of Britain's Three network to allow US citizens to use their phones in Europe at no extra cost, the…

Samsung electronics, South Korea's largest electronics manufacturer, has hit back at reports circulating that it actively paid Chinese students to attend a Galaxy S6 launch event in Shanghai, GSM…

MTN-Irancell, Iran's second largest mobile operator by number of subscribers, announced it has reduced the price of its 4G SIM cards from IRR 200,000 to 100,000 with IRR 20,000 initial airtime,…

The 3rd International Biotechnology Festival is to be held in Tehran on May, 21-23, said Mostafa Ghaneie, the secretary of the biotechnology development headquarters, IRNA reported.

The ceiling for payment via debit cards has been limited to 500 million rials ($15,300 at market exchange rate) by the Central Bank of Iran, apparently to counter rising financial crime. A…

State-owned banks have jointly sent a letter to the Central Bank of Iran (CBI) calling for an official decision about cuts in interest rates, said a senior banking official on Monday.

The…

Last week’s nuclear agreement between Iran and the major powers will create an enabling environment for the banking operations in the next three months, a banker has predicted.

“Banks…

Three new insurance companies are set to start operating in the year that started March 21, said Mohammad Ebrahim Amin, director of Central Insurance of Iran (CII), the primary insurance regulator…

As hot debates over Iran’s post-sanction economy continue a university lecturer has speculated that the US dollar may plunge further to as low as 26,000 rials because supply seems to be increasing…

The industry and mining sectors managed to attract more than 907 trillion rials of banking facilities during the first 11 months of the past Iranian year (ended March 20), based on a report issued…

Around 18,216 tons of various polymers from local petrochemical complexes were offered in a bustling day in Iran Mercantile Exchange’s oil and petrochemical trading floor on Monday, IME’s public…

Vast exploration operations have resulted in the discovery of more than 250 million metric tons of iron ore reserves as well as 150 million tons of coal; Fooladnews cited chairman of the Iranian…

The head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) says a “comprehensive coal plan” will be formulated in the current Iranian calendar year (started…

The chinaware industry in Iran is experiencing hard times as almost 60 percent of active chinaware manufacturing units have been forced to close down in recent years due to decline in demand in…

The latest report released by the Central Bank of Iran (CBI) estimates economic growth of 2.8 percent, including the oil sector, and 2.5 percent, excluding the oil sector,  during the third…

Government revenues during the third quarter of the past Iranian calendar year (September 23- December 21, 2014) stood at 230,173 billion rials ($8.22 billion at official exchange rate), while the…

The Central Bank of Iran (CBI) report for the third quarter of the last Iranian calendar year (September 23- December 21, 2014) indicates an unemployment rate of 10.5 percent during the period,…

Member of Parliament’s Agricultural Commission, Mohamamd-Mehdi Boroumandi on Sunday criticized the excessive imports of sugar, warning about multiple difficulties faced by sugarcane farmers and…

The volume of trade between Iran and Iraq has exceeded $12 billion and the figure is expected to hit $25 billion, said Hassan Danaeifar, Iran’s ambassador to Iraq.