Economy

About 9 trillion rials is annually spent on welfare projects, Minister of Cooperatives, Labor and Social Welfare, Ali Rabiee, said on Tuesday. “Although a huge amount of money is allocated every…

Almost 615 tons of local and foreign soybean meal was offered on the agricultural trading floor at Iran Mercantile Exchange (IME) on Tuesday, the IME’s PR and foreign affairs office reported.

The Iranian Association of Steel Manufacturers has criticized the frequent changes to the iron ore export duties, reported Fooladnews.

With an annual production of 78 million metric tons, Iran’s cement industry ranks third in the world after China and India and first in the Middle East, IRNA reported on Tuesday citing an industry…

Iran continues to dominate the global pistachio export market, with a 50% share in exporting the popular nut, said the Iranian Pistachio Association (IPA), attributing the figure to the high ratio…

Despite a desperate need at home for scrap steel, it is widely exported due to higher prices in international markets, reported Fooladnews. The Customs Administration recently announced the export…

Foreign firms especially from India have shown interest in investing in Chabahar Port, Secretary of Free Zones Coordination Council, Akbar Torkan, said on Monday.

“Appropriate…

More than 90 percent of Bank Keshavarzi’s (Agri-Bank) facilities have been directed at the agriculture sector including farming, livestock, poultry, fisheries, forestry, farm mechanizations and…

In a bid to address the liquidity problem faced by the manufacturers, a new production fund will be established to provide loans to the manufacturing units through a new line of credit, the head…

A sum of $15.3 million, the largest insurance claim in Iran’s history, has been given to Tehran Metro Company in damages for a flash flood two years ago, Mahmood Amrollahi, the CEO of Iran…

The latest 2014 report by the World Steel Association shows Iran is slightly behind its rising growth trend in production of crude steel, despite a significant 50% production growth during the…

The country is developing new qualitative goals for the auto industry, an official in the ministry of industry, mine, and trade told Mehr News.

More than 41,643,000 tons of cement was produced in the seven months ending October 22, Mehrnews reported. Moreover, 45,024,204 tons of clinker was produced within the same period. The figures…

Nearly 86,400 tons of unwrought aluminum worth $155.1 million was exported in the seven months ending October 22, showing a 26 percent decrease compared to the same period last year, ISNA reported…

Iran is set to extend its national rail network by 10,000 kilometers, Ali Noorzad, the deputy minister of roads and urban development announced in a meeting with his Armenian counterpart, Arthur…

Exports to Iraq through Mehran international border—located in the west of Ilam Province—since the start of the current year (March 21) amounted to over $647 million, showing 20 percent increase,…

In a bid to improve Iran’s transportation infrastructure and provide the required machineries for the maintenance of the national road network, the cabinet has ratified the allocation of 2…

Tracking codes will be issued for imported commodities as from the end of this year (March 2015), director of the valuation office at Islamic Republic of Iran Customs Administration, Khodakaram…

Brent crude’s price has fallen to its lowest level in four years. Pierre Andurant, one of the most respected and successful fund managers in the oil industry, predicted late last month that oil…

The director of the Iranian World Trade Center has criticezed government efforts to join the World Trade Organization, arguing that the decision cannot be a good idea given the unsatisfactory…

The southern province of Hormozgan is ready to boost its trade ties with foreign countries, Khalil Qasemi, the head of Hormozgan’s industry, mine, and trade organization told IRNA on Monday.

Two copper ore beneficiation plants, each a 150,000-ton capacity, will be operational for processing copper from the Sarcheshmeh (in Kerman Province) and Sungun (Azerbaijan Province) mines. The…

Iran and Portugal have, for the first time in their history of mutual economic cooperation, signed a 25-article Air Transport Agreement (ATA), Alireza Jahangirian, head of Iran’s Civil Aviation…

The first International summit on Iran-Iraq trade development will start today in Tehran’s Milad Tower, IRIB reported. The summit is co-organized by the Iran-Iraq Joint Chamber of Commerce,…

The Rouhani administration has no plans to continue the purchase of used wagons from China, Mohsen Pooraghai, the general director of the Islamic Republic of Iran Railways told ILNA on Sunday.