Economy

Banking ties with two major Austrian banks are being established, with Iranian banks establishing 22 correspondent relations only with Oberbank, the governor of the Central Bank of Iran said.

Bank Melli Iran, the country's largest commercial lender, is set to establish a company tasked with recovering its non-performing loans, announced a member of the state-owned bank's board of…

Bank Melli Iran’s Hamburg branch has conducted transactions worth €11 billion ($12.3 billion), noting that the bank’s activities soared after economic sanctions against Iran were lifted in January…

The unique conditions of Iranian economy, especially its low amount of foreign debt, help attract foreign investments, a deputy economy minister said.

Tehran Stock Exchange’s main index lost 306.60 points or 0.38% to end Monday trade at 79,564.1.

About 354 million shares valued at $20.1 million changed hands for the day.

SAIPA…

A total of 1.5 million tons of minerals have been extracted from Chaharmahal-Bakhtiari Province’s mines so far in the current Iranian year (started March 21), said Behzad Ebrahimi, the head of…

Iran has high long steel production capacity, small output and low exports. The scenario for flats is the exact opposite, which is testament to Iran’s unbalanced steel sector.

Iran Airports Company registered 84,043 takeoffs and landings in the first two months of the current Iranian year (March 21-May 21), which shows an 8% rise compared with the similar period of…

An Iranian union of chicken farmers said it has received requests from Qatar to import chicken eggs over a possible food shortage there after Saudi Arabia and its allies cut ties with Doha.

An average of $3 billion worth of livestock, poultry and fish feed inputs are imported by Iran every year, the head of Iran Feed Association said.

Some 220,000 tons of colza are estimated to be harvested in the current Iranian year (started March 21), from which about 100,000 tons of high-quality vegetable oil will be produced, a deputy…

Iran’s Minister of Cooperatives, Labor and Social Welfare Ali Rabiei has been elected to preside over the Asia and the Pacific Region Labor Ministers’ Meeting. The election took place at the 106th…

May 23rd marked the 35th anniversary of Islamic Azad University’s founding.

With 1.62 million students, 70,000 faculty members and about 10 million square meters of campus space, IAU is…

Iran's Automotive Policy Council is considering the possibility of merger of auto parts manufacturers to cut costs and to cater to the needs of the market which is facing shortage in auto parts…

The production of 100 Iran-made small electric cars called Yooz developed at a knowledge-based firm affiliated to the Islamic Azad University Qazvin, has started, according to the university dean…

The Industrial Development and Renovation Organization of Iran (IDRO) says firms wanting to benefit from its support must first meet its terms and conditions.

IDRO, created in 1967, is one…

A local firm, Kian Motor Varna, has reportedly come to an import agreement deal with Chinese-German carmaker Borgward.

According to local automotive website Aval Khodro, the deal was signed…

Central Bank of Iran’s Governor Valiollah Seif met with his Syrian counterpart on Sunday to review banking ties and discuss further cooperation to finance economic projects.

A total of 21.19 billion transactions were registered in the Iranian interbank information transfer network, or Shetab, in the previous fiscal year that ended in March, according to the…

Governor of the Central Bank of Iran Valiollah Seif has denied reports about Iranians having any problems regarding their bank accounts in Turkey, stressing that banking relations between the two…

Oberbank, one of Austria's biggest banks, has allocated a €1 billion ($1.2 billion) line of credit to finance investment projects in Iran, Austria's finance minister announced…

Tehran Stock Exchange’s main index gained 15 points or 0.02% to end Sunday trade at 79,870.7.

About 450 million shares valued at $47.51 million changed hands for the day.

Derakhshan…

The Central Securities Depository of Iran issued 17 trading codes for foreign investors in Iran’s capital market during the second month of the current Iranian year (ending May 21).

Investors warmly greeted the underwriting of the Iranian capital market’s first exchange-traded commodity on Iran Mercantile Exchange, as 80% of the units offered by Lotus Gold Fund were sold on…

Iran’s sportswear market is mainly dominated by foreign products.

Many Iranian sports teams and athletes tend to regard foreign brands as their first choice when it comes to sports clothes…