Economy

The parliament on Tuesday decided to lower the cap for the total cash subsidies paid by the government to Iranian households from 42 trillion rials ($1.5 billion at official exchange rate)…

The Persian Gulf Special Economic Industrial and Mining Zone (PGSEZ) has attracted $9 billion in domestic and foreign investments over the past decade, Managing Director of PGSEZ, Masoud Hendian…

Following a parliamentary approval, the conditions for handing over unfinished development projects to state-owned banks have been made clear for the coming year (starting March 21), IRNA reported…

Central bank officials have expressed concern over the recent acceleration of commercial banks lending, saying it might lead to higher inflation. Economic experts, however, believe that the…

The private banks have fiercely slammed the new sample bank charter, recently issued by the Central Bank of Iran (CBI), suggesting private banks to sell 20 percent of their shares to the…

The official rate of the US dollar broke above 27,800 rials on Wednesday, bringing down its gap with the market rate to under 6,500 rials.

On Ferdowsi Street – the center of currency trade…

Sarmayeh Bank's shares opened for trading on Wednesday, after being closed for eight months, Bourspress reported. The bank is listed in Iran Farabourse over the counter market. Its trading was…

Technological advances in recent years have led to the growth of high-tech industries which have direct impact on the economy, particularly in developed countries. High-tech sectors and …

AAccording to official statistics released by Iran Customs Administration (IRICA), Iran’s iron ore exports have decreased substantially, reaching around 0.02 million metric tons in January from 1.…

As Tasnim News Agency reported on Wednesday, 1.09 million cars were manufactured in the country in 2014, recording a 46.7% growth compared to 2013. According to the latest report published by the…

More than 80,000 metric tons of different soft commodities were offered in Iran Mercantile Exchange on Tuesday, IME’s Public Relations and Foreign Affairs reported. According to the report, the…

In a meeting between the ministry of industry, mine, and trade and steel manufacturers, it was decided that 10-20 percent duty will be imposed on the import of steel products, in a bid to protect…

A report by the ministry of industry, mine and trade indicates that while the total number of permits issued by the ministry in the first ten months of the current Iranian year (to end March 20)…

Currently, there are 88,000 suspended industrial projects across the country, with progress ranging from 1 to 90 percent, IRNA quoted deputy minister of industry, mine, and trade, Mehdi Danesh-…

According to official statistics released by the ministry of industry, mine, and trade, 80 mine discovery certificates were issued during the 10th month of the current Iranian calendar year (…

The steel sector could become a viable alternative to the oil sector in terms of generating revenues, especially upon completion of the value chain in the steel sector, said the deputy chairman of…

A system designed to report bank loan collaterals will be launched in five months, said Mohammad Jalili, CEO of Customer Credit Evaluation Company.

Designing the system was proposed to…

Five Iranian firms have attended Mobile World Congress, the world’s premier technology fair, in Barcelona, Spain. The four-day event, which will be underway by March 5, is the first global…

Over a month ago the Central Bank of Iran issued a directive which added to prior limitations on currency trade in Iran’s foreign exchange market. Its aim was to increase the central bank’s grip…

A new banknote was unveiled on Monday, replacing the nuclear energy sign with a depiction of Tehran University’s main gate on the note’s reverse. The new note will go into print in spring.

…

The Iranian ministers of industry and finance have called on commercial banks to resume the opening of letters of credit (LCs) for domestic use, Eghtesad News reported.

Serbia’s deputy prime minister and minister of trade, tourism and telecommunications, Rasim Ljaji?, in a meeting with Iranian Ambassador to Serbia, Majid Fahimpour, held in the Serbian capital…

Tehran-Ankara cooperation in railway industry and rail transportation will open a new chapter in trade ties between the two neighboring countries, Iran’s consul general to Turkey, Mohsen…

Iran is expected to export 70,000 metric tons of eggs by the end of the current (ending March 20), which is twice the amount exported last year, secretary-general of Iran’s Egg-Laying Hens…

With proper planning, we can reduce tax evasion by at least 60 to 70 percent, head of Iran’s National Tax Administration (INTA), Ali Asgari said on Sunday, noting that “tax evasion in Iran…