Economy

The Iran Mercantile Exchange’s export trading floor listed the offering of about 32,300 tons of bitumen, 22,000 tons of vacuum bottoms, 3,000 tons of lube-cut oil, and 1,600 tons of sulfur on…

The minister of industry, mine and trade has described the auto, home appliance, steel, cement and food sectors as the country's leading industries.

Iran and Guinea have moved to reactivate a bauxite mining project in the West African country, after a 23-year delay.

Innovations in the window and door sectors have resulted in a surge towards the use of UPVC (unplasticized polyvinyl chloride) in the construction industry, which is rapidly replacing the…

Stocks massively underperformed at Tehran Stock Exchange on Saturday trade, dragging down the overall index to keep wiping out the gains it made earlier this year (started March 21) after a…

The central bank deputy governor for foreign exchange affairs announced on Sunday that several bilateral currency swap agreements have been signed between Iran and Turkey, Iraq and Russia, aiming…

A Karafarin Bank Stakeholder failed to liquidate his stake on Thursday.

The stakeholder, Hamed Hakimi, wanted to sell one percent of Karafarin’s shares but failed to secure a single buyer,…

Last week’s decision by the Money and Credit Council is now affecting the ‘sight deposits’ which used to enjoy, in some banks or financial institutions, attractive rates of 22-24%, though the…

The Central Bank of Iran officially lowered sterling's exchange rate versus the rial on Sunday, to keep pace with international developments in foreign exchange markets.

The Central Bank of Bahrain (CBB) placed two Iranian financial institutions into administration as of April 30, according to Bahrain’s media. No explanation, however, has been provided for the…

Although the removal of western sanctions can open new vistas for Iran to engage with the international community, one should not expect that all the problems the economy has been grappling with…

Iran has signed cooperation agreements with Iraqi Kurdistan on various areas including agriculture and construction, IRNA quoted Ali Eghbalpour, deputy consul general of Iran in the Iraqi city of…

Nomads account for 25 percent of the country’s overall red meat production, deputy head of Nomadic Affairs Organization, Mir-Vali Safarzadeh, announced on Saturday, as reported by ISNA.

The government is planning to import 2 million metric tons of wheat during the current Iranian calendar year (started March 21) in a bid to avert possible shortage of wheat in the domestic market…

Head of western Ilam province’s Chamber of Commerce, Industries, Mine and Agriculture on Sunday spoke of a fivefold increase in transit fees imposed by Iraqi customs authorities on the Iranian…

The 15th Caspian Sea littoral states’ chambers of commerce summit was held in the port city of Anzali in northern Gilan Province April 29-30. According to IRNA, heads of chambers of commerce,…

Iran welcomes the idea of setting up a joint chamber of commerce with Singapore, which can help traders exchange information on the economic capacities of both sides, chairman of the Iranian…

At an event hosted by Bank Tejarat, a book on nonperforming loans (NPLs) in the banking system was unveiled this week. Asghar Pourmatin a co-author of the book said they have sought the best…

The Money and Credit Council (MCC) has urged the Central Bank of Iran to take tighter supervision measures against banks and financial institutions violating deposit rate regulations.

The Royal Bank of Scotland is reported to have reached a settlement with its Iranian customers who charged the giant high street bank of discriminating against them based on their race.

The…

As the Turkish lira continues to lose value against the US dollar, experts are weighing the potential consequences of such a fall for the Iranian economy given the large bilateral trade between…

After the Money and Credit Council finalized a decision on deposit rates in a meeting held on April 28, it also announced approvals on the reserve requirement rate, among other issues.

Food exports are set to increase to $3 billion in the current Iranian calendar year (started March 21), according to the director general of health ministry’s food, medicine and health office.…

Tea plant harvest has officially started, head of Iran’s Northern Tea Farmers’ Union, Iraj Mousemi, announced as reported by ISNA. The official noted that out of 32,000 hectares of tea farms in…

Head of the Association of Iranian Confectionery Manufacturing Companies, Jamshid Maghazeie warned against irregular import of chewing gum, adding that chewing gum worth about 15 trillion rials ($…