Economy

The International Monetary Fund is optimistic that Iran can unify its dual foreign exchange rates in 2017-18 despite recent challenges facing the country, such as currency market volatility.

The rate of smuggling is expected to decline by 20% from last year’s $15.5 billion and reach $12-13 billion this year, the spokesman of Headquarters for Combating Smuggling of Commodities and…

The government grants 860 billion rials ($22.9 million) worth of subsidies to media groups every year.  Minister of Culture and Islamic Guidance Reza Salehi Amiri added that in the current…

There are 19 million vehicles in Iran, Minister of Roads and Urban Development Abbas Akhoundi announced. “Including the motorcycles, the figure tops 29 million,” he was quoted as saying by the…

Mashhad International Airport handled 9.41 million passengers and 65,343 flights during the 11 months to February 18, registering an increase of 18% and 17% respectively compared with the…

The second meeting of the Supreme Labor Council on setting the next Iranian year’s (March 2017-18) minimum wage for nearly 13 million Iranian workers will be held today at the Ministry of…

After days of cold snaps, it was a sunny Wednesday morning at Neauphle-le-Chateau Street in downtown Tehran. The press had gathered at the French Embassy for a briefing on the country’s plans for…

Women held 89% of all the jobs created over the past Iranian year (March 2015-16), according to the minister of cooperatives, labor and social welfare.

“The employment of women in…

The domestic auto industry is plagued with a myriad of problems, from inflation to production of high-emission vehicles. But its newest challenge comes from rather unexpected quarters: the Persian…

Volkswagen Group has signed a memorandum of understanding with Tata Motors to explore cooperation in India, sources close to the matter said, as VW takes a fresh attempt at conquering low-cost…

Volkswagen AG pleaded guilty on Friday to fraud, obstruction of justice and falsifying statements as part of a $4.3 billion settlement reached with the US Justice Department in January over the…

The International Organization of Motor Vehicle Manufacturers (OICA) says  Iran’s auto industry had the largest growth rate internationally during 2016.

A chart published on the…

The Organization for Economic Cooperation and Development should upgrade Iran’s risk classification in view of the country’s current economic situation, said the CEO of Austria’s Oberbank.

The Central Bank of Iran has updated its list of bureaux de change officially allowed to operate in the market. According to the latest update by CBI on March 4, a total of 419 exchange houses…

The governor of the Central Bank of Iran believes that the country will be able to meet the conditions needed to become a full-time member of the Financial Action Task Force when the organization…

For the first time in Iranian history, the country has exported milk to the United States, Deputy Agriculture Minister Hassan Rokni announced on Thursday without providing any further information…

India is keen on expediting the development of Chabahar Port in Iran and hopes to complete the first phase of the project next year. This was announced by India’s Minister for Road Transport and…

A factory manufacturing fittings for unplasticized polyvinyl chloride doors and windows was launched by Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh on Wednesday in the city…

Iran’s Minister of Agricultural Jihad Mahmoud Hojjati is in Ukraine to scope out opportunities of bilateral cooperation with the East European country. Leading a 40-member delegation, the minister…

Economy Minister Ali Tayyebnia said Iran is set to lift government controls on iron ore pricing in the domestic market.

“There is a large gap between domestic iron ore prices and…

With around 84,000 hectares of olive orchards and an annual production of 100,000 tons, Iran is ranked by the International Olive Council as 14th in the world in terms of area under olive…

Some 284 million tons of mineral products were produced in Iran during the 11 months to February 18, the Iranian Mines and Mining Industries Development and Renovation Organization’s latest…

Tehran Stock Exchange’s main index shed 1,190 points or 1.5% during the week that ended March 8 to close at 76,285.

IFX, the over-the-counter Iran Fara Bourse’s benchmark, lost 5 points or…

About 52% of Refah Chain Stores Company’s shares worth 3.8 trillion rials (about $102 million) belonging to four major banks are being offered to investors in the domestic stock market (starting…

In the past few years, network marketing has become a popular occupation among Iranian youth.

Having successfully distanced themselves from controversy involving pyramid schemes, these…