Economy

Parliamentarians have rejected a proposed increase on cigarette duties incorporated in the next fiscal budget bill (March 2018-19) and referred it back to the Majlis Joint Commission for…

Iran's oil price staged the third highest surge among international benchmark crudes in the week to Jan. 26, following the US West Texas Intermediate and Brent.

Android 7.0 Nougat has become the most-used version of the mobile operating system, running on 28.5% of devices, according to an update on Google’s developer portal. That number narrowly edges…

Tech insiders are rallying against the companies and products they helped create. Former employees at companies such as Google and Facebook are pushing for tech companies to rethink and redesign…

This week, after years of delay, SpaceX founder and tech mogul Elon Musk hopes to finally launch Falcon Heavy: the most powerful operational rocket in the world.

A housing official has ruled out any immediate impact of the ongoing rally in the foreign exchange market on home prices but says that in the medium term, a weaker rial would make the housing…

Data released by the Central Bank of Iran indicate that the number of electronic payment instruments have been continuously on the rise in the past few years.

The regulator has disclosed…

Bank Mellat has now made facial recognition available as an option for unlocking its mobile banking app to become the first bank to offer this capability in the Iranian banking system.

Iran intends to establish a joint bank to promote trade ties with Latin America by repurposing its only bi-national bank with that of another country from the region, the chief executive of…

About 805,000 tons of goods were transited into the country from Bazargan border crossing in West Azarbaijan Province (northwestern Iran bordering Turkey) during the first 10 months of the…

Close to 314,000 tons of chocolate and pastry worth about $440 million were exported from Iran during the first eight months of the current fiscal year (March 21-Nov. 21, 2017), registering a 92…

Iran’s exports to its top trading partner China in 2017 witnessed a 25.2% rise compared to 2016 to reach $18.58 billion, an official with the Trade Promotion Organization of Iran said.

The Ninth International Exhibition of Bitumen, Asphalt, Insulation and Related Machinery, also known as BAIEX 2018, is slated for Feb. 12-26 at Tehran’s International Permanent Fairground, the…

Any rise in the prices of goods and services supplied by guilds is banned until April 20, which marks the end of Iranian month of Farvardin. The announcement was made by the head of Iran Chamber…

The Iranian Cabinet set the fiscal yearend (March 20) bonuses for full-time public sector employees, including civil servants, members of the judiciary and armed forces as well as pensioners, at…

Tehran Stock Exchange was the world’s third fastest-growing bourse, according to a study carried out by TSE analysts who monitored the benchmarks of 17 global exchanges from March 21, 2017, to…

The Agricultural Support Services Company affiliated with the Ministry of Agriculture has so far supplied around 1.9 million tons of nitrogen, phosphate and potassium fertilizers to farmers in…

Lawmakers have decided to extend the pilot plan for enforcing the value added tax for the next fiscal year (starting March 21). In doing so, they have complied with the government’s proposed…

Around 28,500 and 31,500 tons of wheat were exported to Oman and Italy respectively from Khuzestan Province during the first 10 months of the current Iranian year (March 21, 2017-Jan. 20, 2018…

The overall Producer Price Index for the services sector (using 2011 as the base year) stood at 247.1 in the third quarter of the current Iranian year (Sept. 23-Dec. 21, 2017), indicating a 3.7…

Monthly payments of cash subsidies will remain in place during the next fiscal year (March 2018-19) until a formula is devised to remove high-income earners from the list of recipients, the…

Ferrari, the Italian luxury sports car maker, delighted investors with its prediction that profits will double by 2022 as it reported earnings for 2017 way ahead of its current plan.

Nissan Motor Co plans to invest 60 billion yuan ($9.5 billion) in China over the next five years with its joint-venture partner as it seeks to become a top three automaker in the world’s biggest…

Pars Khodro, a subsidiary of SAIPA, has announced an increase in the price of Brilliance models with upgraded engines.

Three models, namely H320, H330 and C3, have been upgraded and will…

The Ministry of Industries has sent an amended version of auto import rules to the Cabinet that proposes newly-imposed higher import tariffs on hybrid cars be cut and be based on the vehicles’…