Economy

Noor Credit Institution is planning to increase its capital from the current 3 trillion rials ($7.5 million) to 6 trillion rials ($15 million) and become a bank, said the credit institution’s…

There is not much buying or selling happening in the UAE’s hot rolled coil market due to the uncertain situation and fluctuating prices. Besides, demand is weak at the end of the year and…

The steel industry is one of the most strategic sectors of the Iranian economy, as it accounts for the bulk of the mining sector’s exports and revenue and is at the same time vital for the…

Iran, since the lifting of economic sanctions earlier this year, has become an increasingly attractive market for South Korean heavy industry businesses, especially the construction and…

In spite of the Iranian government’s policy to halt exports of raw materials, customs statistics show a sharp increase in iron ore exports in the first nine months of the Iranian year (to December…

A 10-kilometer railroad connecting Iran’s northwestern city of Astara to an Azeri city with the same name will become operational in three months, according to Abbas Nazari, an official with the…

The revival of Silk Road is a perfect opportunity for the development of Iranian economy, the president of Iran’s Chamber of Commerce, Industries, Mines and Agriculture said.

The Islamic Revolution Mostazafan Foundation accounts for 1.5% of Iran’s gross domestic product, says the head of the foundation.

Out of 43 auto importing firms in Iran, only ten have been registered as official representations of the brands they sell. The Ministry of Industries, Mining and Trade had set a deadline demanding…

Personal auto policy and health insurance accounted for 65% of insurers’ premium income during the eight months to November 20.

The Central Bank of Iran has announced that it will hand a list of people who traded large amounts of foreign exchange in recent weeks to Iran National Tax Administration for further investigation…

The end of the current Iranian year in March will bring about an end to currency fluctuations plaguing the market, as increased supply helps moderate the market, predicts the director of the…

The Malaysian Palm Oil Council will hold Malaysia-Iran Palm Oil Trade Fair and Seminar during February 7-8, 2017, in Tehran. Malaysian Minister of Plantation Industries and Commodities Mah Siew…

Kyrgyzstan attaches special importance to the development of economic relations with Iran.

Kyrgyz Economy Minister Arzybek Kojoshev made the above statement at the Kyrgyz-Iranian Business…

About $1.4 billion worth of goods were exported from production units located in Iran’s industrial parks during the nine months to December 21, Deputy Minister of Industries, Mining and Trade Ali…

Although Iran and Azerbaijan have made considerable efforts for connecting the two countries through railroads, it appears that the mission is unlikely to be completed by 2020.

Tehran…

Iran exported 1.2 million tons of non-oil goods worth $497.5 million to Pakistan during the eight months to November 20, registering a 30% increase compared with last year’s corresponding period…

Home appliances market in Iran is worth 200 trillion rials (more than $4.95 billion at market exchange rate). Domestic production accounts for only a quarter of this sum and the rest is dominated…

At present, 80% of domestic demand for food products are met through domestic production, a deputy agriculture minister said.

"The figure stood at 55% when President Rouhani first took…

Iranian aviation is being revitalized with the long-term prospects of reestablishing a global hub in Tehran.

Gold options trading started on Iran Mercantile Exchange on Wednesday.  The options are being traded through brokers for the time being but, according to IME CEO Hamed Soltani-Nejad, their…

A 10-member delegation of Mobarakeh Steel Company of Iran is in Karachi to examine the possibility of acquiring Pakistan Steel Mills, Pakistan Today reported.

Secretary of Industries and…

The recent news about a possible cut in the import duty on flat steel products entering Iran has led to a halt in trading, Metal Bulletin learnt on December 28.

The exact date when the…

With the surge in foreign exchange rates in Iran cell phone prices have shot up  15% in just two weeks. Head of Iran’s Telecommunications Guild, Gholamhossein Karimi, in an interview with…

Changing Iran’s official monetary unit from rial to toman would cost a hefty 30 trillion rials ($922.7 million), announced the head of Majlis Economic Commission.