Economy

Bureaucracy and graft are seen as some of the primary reasons undermining business and pushing entrepreneurs and investors further away. It has also saddled productive sectors of the economy,…

The ‘Quinoa Project’, a global project to cultivate quinoa on a trial run is being implemented in seven regions of Iran including Iranshahr in collaboration with Food and Agriculture Organization…

Nearly 1.5 million people are employed in the cooperative sector, said ISNA quoted deputy minister of cooperatives, labor and social welfare, Hamid Kalantari as saying on Sunday. The government…

Iranian and Turkish officials on Sunday signed 11 memorandums of understanding (MoU’s) to further develop cooperation in banking and customs affairs, IRNA reported on Sunday.

Nearly $163 million worth of different goods have been exported from South Khorasan Province to neighboring  Afghanistan since the beginning of the current Iranian year (to end March 20),…

The Iran Mercantile Exchange (IME)’s trading halls played host to various commodities by local petrochemical complexes on Saturday trading, IME’s public relations office reported.

Despite vast mineral resources of high quality, the mines in Chaharmahal and Bakhtiari Province in southwestern Iran remain largely unexplored, Iran newspaper reported.

Major aluminum makers produced 30,577 metric tons of ingots in the 11th month of the current Iranian year (January 21-February 19), which indicates a 7% increase compared with the same period last…

Contrary to the popular belief among steel industry experts that imposing higher import tariffs will help the domestic steel sector, a member of Auto Parts Manufacturers Association (APMA) board…

A fresh bullish sentiment at the Tehran Stock Exchange (TSE) over optimistic speculations about the ongoing nuclear talks led to the benchmark experiencing a three-month record high at Saturday's…

Banks will no longer be allowed to purchase participatory bonds, stated deputy minister of economic affairs and finance Shapur Mohammadi.

The official explained that for the following year…

The Export Development Bank of Iran (EDBI) provided funding for eight national development projects in the fiscal year ending March 20, IRNA reported on Saturday.

Apart from the projects,…

Disruptions in the banking network grow as the Iranian New Year approaches and the number of physical and virtual visits to the bank portals increase, Tasnim news agency reported.

UniCredit is in discussions with US authorities investigating the Italian bank for possible violations of sanctions on Iran, its chief said after reports that Commerzbank agreed to a settlement in…

The rial surged versus all foreign currencies and equities rose in Tehran on Saturday, as optimism that Iran and the six world powers (P5+1) would strike an accord ending the 12-year nuclear…

Iran Insurance Company (IIC) which has taken over Tose’e Insurance Company (TIC) is now in charge of the failed insurer, Banker reported, citing IIC’s managing director.  After TIC’s…

Minister of Cooperatives, Labor and social Affairs, Ali Rabei says 600,000 new jobs have been created by the current administration, adding that 8 million employees in the country do not have…

Suitcase trade –purchasing consumer goods where prices are low and later selling them elsewhere for profit— between Iran and the Commonwealth of Independent States (CIS) amounted to $74.3 million…

The head of the Islamic Republic of Iran Customs Administration (IRICA) says foreign fruits in the market have not been legally imported; the daily Ta’adol reported on Saturday. Masoud Karbasian…

Ever since the so-called ‘subsidy reform plan’ was launched in December 2010, the government has been annually spending nearly 420 trillion rials (about $15 billion at official exchange rates) on…

Iran is ready to supply the Republika Srpska in Bosnia and Herzegovina with oil-based products, Iran’s ambassador to Sarajevo, Seyed Hossein Rajabi, said in a meeting with Vice-President of…

Iran signed a memorandum of understanding (MoU) with Azerbaijan to expand transit and transportation cooperation with the northern neighbor, IRNA reported on Saturday.

China has been the biggest exporter to Iran over the past 11 months of the current Iranian year (to end March 20), exporting $11.58 billion worth of goods during the period, ISNA cited data…

The minister of industries, mine, and trade, Mohammad Reza Nematzadeh, said that a financial collaboration between Iran and Iraq could help boost bilateral trade. The minister said an initial…

The Central Bank of Iran (CBI) has issued a bylaw calling on banks to increase financing to the manufacturing sector, a policy that officials say is in line with the “resistance economy” -- a set…