Economy

Deputy minister of roads and urban development Ahmad Asghari Mehrabadi says 90 percent of Mehr housing units will be completed by the end of next year (March 20, 2016), ISNA reported on Monday. “…

All sectors are connected to petrochemical industries one way or another, Mohammad Hassan Peyvandi, vice-director of national petrochemical company said on Sunday. “Nowadays basic needs of human…

Head of Iran’s chamber of commerce, mines, industries and agriculture, Gholam Hossein Shafeie, has called for the establishment of Iran-Bangladesh Trade Committee, saying that the body can play an…

Increasing the share of railroads in domestic transportation by 20 percent until 2025 requires more than 350 trillion rials ($12.9 billion at official exchange rate) in investment, Minister of…

The issue of oil price in Iran’s next budget (stating March 22) is still a source of controversy among  business leaders, statesmen and lawmakers as falling crude in the international market…

The weakening of the Iranian currency against the dollar during the month ending December 21, created a 4 percent profit for export-oriented industries, based on a report released by Eqtesadnews…

Dairy manufacturers are selling their products at cheaper prices a few days before their expiry date, due to the dramatic fall in domestic consumption, ISNA reported on Monday. Following the…

More than 70 Iranian cement companies produced 56.8 and 51.6 million metric tons of clinker and cement respectively during the first 9 months of the current Iranian year (to end March 20),…

Tehran Stock Exchange (TSE)'s overall index snapped its heaviest 12-day losing streak at Monday's close, amid signals indicating positive support from both the cabinet and the administration to…

More than 25.7 million metric tons of iron ore concentrate and iron ore pellets were produced during the first 3 quarters of the current Iranian year (from March 21 to December 21, 2014), IRNA…

The prospect of the Fifth Iranian Conference on the steel and mine industry, which is due to be held on January 27-28, is already stirring the nerves of some industry commentators and analysts.…

Deregulation is needed for commercial lenders so that they can invest in the economy, said a top banking expert to IRNA.

“Investment by banks should become more liquid so as to help lift…

The Central Bank of Iran has issued a bylaw mandating all banks and credit institutions to approve three conditions before giving loans to economic entities, FNA reported Monday.

It has…

An unnamed bank was reprimanded by the central bank due to noncompliance with e-check system Checkavak, a central bank official said on Monday.

“We cannot let one bank’s weak performance…

Mobile phone users are receiving fraudulent text messages, which claim to facilitate the process of receiving loans and reduce the wait to only two months. Official banking procedures to apply for…

Alborz Insurance profits beat expectations after growing 30 percent for the current fiscal year ending March 2015, said the insurer’s CEO Rasoul Tajdar. The Tehran-based insurer expanded its…

O ver the past month the Central Bank of Iran has kept close watch regarding banks’ deposit interest rates and three cases of violations were reported and sorted out over the period, CBI Governor…

T he Times of India announced in November that it will offer online visa facilities for 45 countries including, the US, Australia, Germany, Japan UAE, Palestine, Jordan, Thailand, Singapore and…

Some iron ore mines will be forced to shut down if the export market for the product does not improve, warned the deputy minister of industry, mine, and trade, Mehdi Karbasian on Sunday.

The ministry of industry, mine, and trade said in the first 8 months of the current Iranian year (to end March 20), there were 4,145 unfinished industrial projects across the country with more…

Stocks’ sharp retreat continued on Sunday, after most of the shares at the equity market witnessed panicked selloffs due to the fragile atmosphere at Saturday’s close.

Failing to snap the…

Some 200 companies from Iran and foreign countries such as Germany, France, Spain, the US, Finland, Denmark, Switzerland, the UK, and Sweden are participating in the 11th Energy Exhibition on Kish…

Iran’s e-commerce industry has a new competitor in 2015 who is going to shake up the status quo. The new app is called Lendem short for “lend them” and aims to shake up how things are traded and…

Interest on sight deposits will be calculated via a new method, a newly issued directive by the Central Bank of Iran states.

According to the directive, interest on sight deposits will be…

T he old Persian language sarcastic adage of “take it if it’s free “ has come unstuck last week with the revelation of a SMS and online con which had fooled thousands of Iranians to give their…