Iran has been bearing losses of about $2.5 billion per month ever since the international oil price plummeted by more than 56 percent from its peak of $114 per barrel in June last year to…
Economy
Iran economy news, Get the latest news about Iran economy, trade, growth prediction, agriculture, transport, aviation, infrastructural developments and investment opportunities.
Following the Financial Tribune’s report last week on the low-profile entry of Microsoft in Iran, another development has occurred to back up the claim that Microsoft is now beginning to support…
Shetab is Iran’s only nationalized ATM card system currently in use. Right now it is not accepted abroad but one day in the not too distant future that could change.
The world expects a lot of its central bankers,” wrote The Economist. Politicians demand that they control inflation, keep the economy growing and the financial sector stable. The same goes on in…
The Swiss franc is set for a huge jump versus the rial on Saturday, as Tehran catches up to late Thursday’s changes in the global arena. Stunning monetary-policy shifts in Switzerland and India…
The Iran Mercantile Exchange (IME)’s oil and petrochemical trading floor on Wednesday featured, for the first time, commodities supplied by a Singaporean company.
According to IME’s public…
Giant carmakers Iran Khodro and Saipa produced 83% of the vehicles in the market during the first 9 months of the current Iranian year (ending December 21, 2014), reported ISNA on Wednesday.
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Development projects worth $5 billion in the steel sector are ready and awaiting funds from the Iranian and foreign investors, Mehdi Karbasian, head of the Iranian Mines and Mining Industries…
The construction of an aluminum factory has officially started in the southwestern city of Masjed Soleyman, in a ceremony attended by local officials including the governor of Khuzestan province,…
Iran is planning to build cement factories in Libya and Iraq, ISNA quoted the minister of industry, mine, and trade as saying on Wednesday. The ministry added that the country is highly capable…
Stocks edged up at Wednesday close with the benchmark notching up 0.02 percent, following a seesaw trading day at the Tehran Stock Exchange (TSE) as investors lined up over upbeat news about…
Domestic steel producers still suffer from the declining prices especially those of reinforcing bars (rebars), reported Fooladnews on Wednesday. The declining prices of rebars are much worse than…
The government has allocated 23 trillion rials ($850 million at official exchange rates) in the next year’s budget bill to settle the debts it holds to the Social Security Organization (SSO), the…
Bank Saderat has announced it will now offer special services for people who work in the medical sector, Banker news reported.
The new offer primarily aimed at doctors and nurses across the…
State-owned commercial lenders will raise capital to increase lending to the private sector, lawmakers decided on Wednesday. The parliament ratified a bill to raise the capital of the banks by 100…
Private lender Sina issued its latest financial statements on Thursday. The financial statements include Sina Bank’s balance sheet, income statement, statement of cash flows of previous periods…
I magine that Iran and the P5+1 – the US, Britain, France, Russia, China and Germany – have come to an agreement on Tehran’s nuclear energy program.
Offering lower premiums on third party insurance schemes have recently disrupted the insurance market. Compulsory third party motor vehicle insurance is the main insurance product in Iran’s…
Under an approval by the Money and Credit Council (MCC), the customers of banks who manage to pay their foreign currency debts in six months time will be offered a 30% discount, an MCC member…
Following the collapse of negotiations between the Iranian ministry of road and urban development and the Turkish government, Energy Minister Mahmud Va’ezi left Tehran for Ankara on Tauesday in…
High tariff rates as well as bans imposed on the import of certain commodities are the root cause of smuggling in the country, Mojtaba Khosrowtaj, deputy minister of industry, mine and trade, said…
The money supply was growing at an extreme pace and the rate of economic growth was falling, but despite these concerning economic facts, banks (both public and private) were still forced by…
The administration is planning to support the export of domestically produced dates, Mahmud Hojjati, the minister of agricultural Jihad said in Bushehr on Wednesday. About one million tons of…
Iranians chew 5 trillion rials ($147 million at market exchange rate) worth of gum every year, 83 percent of which is imported. This makes Iran the world’s largest consumer of chewing gum, IRNA…
The southern port city of Bandar Lengeh earned 2.42 trillion rials ($89.6 million at official exchange rate) in the first nine months of the current Iranian calendar year (March 21-Decenber 21),…
