Economy

Bilateral economic relations between South Korea and Iran are expected to take another big leap forward following South Korean President Park Geun-hye's historic trip to Tehran in early May.

The government is giving Iranian airlines four months to get rid of their out-of-service planes, as airports grapple with a shortage of parking space. “The airlines will face heavy fines for each…

Iran has about 6.7 million honeybee hives, producing up to 77,000 tons of honey every year, an official with the Ministry of Agricultural Jihad said. According to Mohammad Mirzaei, the country is…

More and more Iranians are clicking themselves into the world of consumerism. Through their smartphones, computers and tablets, people purchased up to 610,000 billion rials (about $18 billion at…

Apple Inc. said on Thursday it has invested $1 billion in Chinese ride-hailing service Didi Chuxing, a move that Apple Chief Executive Tim Cook said would help the company better understand the…

MTN-Irancell, Iran's second largest mobile network in terms of subscribers, has announced it has begun testing Internet Protocol Version 6 or IPv6, to enable Internet of Things connectivity.

LG Group plans to work on an electric vehicle specifically for the Iranian market. The company recently signed a preliminary agreement with the Iranian government in this regard, Korea's Chosun…

TK Chemical Corp., the spandex-making affiliate of South Korea’s shipping-to-construction company SM Group, said on Wednesday it will build a spandex plant in Iran to gain a bigger share there and…

Head of Central Insurance company of Iran, Mohammad Ibrahim Amin, said on Wednesday he was stepping down as president of insurance industry’s sole regulator, following the unreasonably high…

Pasargad Financial Group, owner of Iran’s second-largest bank, is weighing the sale of shares in its energy unit as the removal of sanctions boosts confidence in the economy.

Small and medium-sized businesses are allowed to take out loans even if they have unpaid debts and/or bounced checks, the Central Bank of Iran announced Wednesday. New terms are offered to SMEs…

The head of Tehran’s Chamber of Commerce, Industries and Mines, Masoud Khansari says sustainable growth demands structural reforms in the economy and the banking sector in particular.

Tejarat Bank ATMs encourage users not to take out print receipts for their banking operations, as part of the bank’s environment-friendly campaign. Social media users have welcomed the move,…

Stocks are not things to dabble in these days. Tehran Stock Exchange’s main index sank to its lowest in three months on Wednesday.

Equities have fallen for the 12th straight day, with no…

Iran is home to more than 100 pharmaceutical firms, most of which produce generics or biosimilar drugs, while a large number of knowledge-based companies have also been established in recent years…

Since women are avid buyers and manteaus and shirtdresses are worn all year round, one would expect the market to be thriving and producers rolling in money.

Yet businesspeople in the field…

Over 15 million tons of cement were exported in the last Iranian year (March 2015-16), indicating a 20% decline compared with the preceding year’s corresponding figure, according to Abdolreza…

Omani ports have the potential of replacing those of other Persian Gulf countries, through which Iran has long been conducting trade, said the head of Iran-Oman Chamber of Commerce.

An Iranian scientist criticized the opponents of transgenic products who have recently mounted a massive campaign even against research in this field.

Behzad Ghareyazie, the chairman of…

Croatian President Kolinda Grabar-Kitarovic will head a large business delegation, comprising members of the Croatian Chamber of Economy, to Iran next week. About 50 Croatian companies will send…

Islamic Republic of Iran Shipping Lines’ standing has improved from 23rd to 22nd in global shipping monitor Alphaliner’s ranking of top 100 largest containership operators. According to Alphaliner…

A commercial delegation comprising Malaysian economic players and business owners met with the representatives of Iran’s Chamber of Commerce, Industries, Mines and Agriculture on Tuesday to survey…

Participants in Iran’s exclusive exhibition, which will be held in the Iraqi city of Basra later this month, will have 40% of their expenses covered by the government to promote their presence in…

SAIPA says discussions are underway to start a joint venture production with PSA Groupe.

Following courtship by western automotive supplier bodies such as FKG in Sweden and FIEV in France,…

The 12th Isfahan Auto Parts Exhibition opened on Tuesday with the participation of 130 local and foreign firms.

Aside from leading Iranian parts maker SAPCO and its subsidiaries, local…