Economy

Russia is planning to build a port on the Caspian Sea near the city of Lagan to increase trade in the region and beyond. Plans to build the port have been included in the official Russian…

Guangzhou in China and Iranian capital Tehran are among four more destinations that will rejoin Emirates’ network this summer, bringing the total number served by the Middle Eastern carrier in…

India's Ministry of External Affairs has downplayed the recent controversy with its longstanding partner Iran, even as media reported that India had been dropped out of the Chabahar-Zahedan…

Iran’s red meat production has increased from 755,000 tons in March 2013-14 to 815,000 tons in the fiscal 2016-17, indicating a 7.9% rise over the four-year period.

Red meat production…

The Iranian Parliament, also known as Majlis, rejected the outlines of the upcoming fiscal year’s (starting March 20, 2020) budget bill on Monday. The legislators cast 67 votes for and 114…

The US Federal Aviation Administration is allowing US airlines to resume operations over large areas of the Persian Gulf after it barred American carriers from the area in the wake of tensions…

Recent allegations spread by the Islamic Republic of Iran Broadcasting that milk in Iran is contaminated with excessive levels of aflatoxin has hurt the domestic dairy industry and further…

The London-based Legatum Institute, which compared the Prosperity Index of 167 countries, found that Iran’s score has improved from 46.7 in 2009 to 48.3 in 2019.  However, its ranking…

Tehran Stock Exchange’s all-share index shed 82.60 points or 0.11% on Wednesday to close trade at 73,877.1.

The benchmark’s weak performance owed to significant losses incurred by steel and…

Russia has said it may join a European Union payment system aimed at salvaging the Iran nuclear deal if the mechanism is expanded to include oil purchases. 

1. Director of Iranian National Tax Administration Omid Ali Parsa: Tax evasion [in Iran] stands at a whopping 350 trillion rials [$3.73 billion per annum]. The establishment of electronic…

Supplying rural areas with clean water will be among the main activities of the Energy Ministry this year, deputy for engineering and development affairs at the National Water and Wastewater…

1. Foreign Minister Mohammed Javad Zarif: We can connect Chabahar and Gwadar, and then connect Gwadar to our entire railroad system, from Iran to the North Corridor, via Turkmenistan and…

1. Deputy Agriculture Minister Hossein Shirzad: Iran’s stockpiles of essential goods in reserve are enough to last for at least six months with absolutely no need for imports. This is while…

A month before OPEC and allies are set to discuss the future of their production cut deal, the leader of the non-OPEC group, Russia, appears to have finally fallen in line with its share of the…

1. Steffen Seibert, German government spokesman: Along with our E3 partners [France and Britain], we’re undertaking efforts to keep enabling legitimate trade with Iran, in particular by…

1. Governor of the Central Bank of Iran Abdolnasser Hemmati: Don’t make investment in the forex market based on political variables. (IRNA) 2. Afrouz Bahrami, managing director of Export…

1. Behrouz Nemati, a spokesman of Majlis Presiding Board: Gasoline rationing and price hikes have been put on hold for the time being. (IRNA) 2. Minister of Roads and Urban Development Mohammad…

1. Mousa Ghaninejad, economic analyst: The way out of Iran's economic crisis is by ensuring compliance with scientific economic principles. (Otaghiranonline.ir) 2. Hossein Raghfar, professor of…

1. Oil Minister Bijan Namdar Zangeneh: The US dream of reducing Iran’s oil exports to zero will not come true. (IRNA) 2. Turkish Foreign Minister Mevlut Cavusoglu: Turkey is looking into…

1. Mohammad Reza Pourebrahimi, chairman of Majlis Economic Commission: With the current inflationary trend, dropping four zeros from the  rial would be appropriate. (IRIB News)

A report released by the Iranian Legal Medicine Organization shows the number of deaths caused by car accidents witnessed a 0.4% year-on-year rise in the 10 months ending Jan. 20.

During…

1. Minister of Roads and Urban Development Mohammad Eslami: Flood-stricken Iranians need more than 55,000 homes. (Hibna) 2. Deputy Roads Minister Kheirollah Khademi: Flooding in Iran has caused…

The World Bank has downgraded Iran's economic growth estimates and forecasts in a new report. The report entitled "Reforms and External Imbalances: The Labor-Productivity Connection in MENA (…

1. Foreign Minister Mohammed Javad Zarif: A year after the US unlawful abrogation of the Joint Comprehensive Plan of Action [the formal name of the nuclear deal Iran signed with six world powers…