Economy

Russian Railways’ export business RZD International and Islamic Republic of Iran Railways signed a €1.2 billion contract on March 28 for the electrification of the 495-km route from Garmsar on the…

Around 2.2% of Iran’s population are foreign-born, the findings of the recent National Population and Housing Census show.

Iran’s current population is 79,926,270, of whom 1,583,979 or 1.98…

Close to 5.6 million tons of goods worth about $1.8 billion were exported from Kermanshah in the last Iranian year (ended March 20, 2017), according to the director general of the western Iranian…

Social Security Organization paid off 25 trillion rials (about $658 million) of its outstanding debts to hospitals amounting to 45 trillion rials ($1.18 billion) in the last Iranian year (ended…

China was Iran’s biggest trading partner in the last Iranian year (March 2016-17). The East Asian country exported $10.75 billion and imported $8.37 billion worth of goods last year to remain…

New-car registrations in Italy rose by 18% last month, partly due to one more working day compared with March 2016.

Sales for the month were 226,143, Italy’s Transport Ministry said on…

Hyundai confirmed it will join the booming subcompact SUV segment with a new model called the Kona, ending months of speculation about the car.

The SUV will compete with vehicles such as…

Deputy Minister of Industries, Mining, and Trade Mansour Moazemi, said local automakers produced 1.3 million cars during the last fiscal year that ended on March 20.

He said the ministry is…

Following an agreement with the government in Baghdad, cars registered in Iran can now legally enter Iraq without extra official processes or paperwork. The agreement will help hundreds and…

Iran exported $321 million worth of hand-woven carpets during the 11 months of the last Iranian year (March 20, 2016-February 18, 2017), the head of National Carpet Center said.

This shows…

Iran's insurance industry grew by 22% during the year to March 20, 2017, with insurance penetration rate improving by 0.4% to reach 2.1%, said the president of the Central Insurance of Iran.

Iran is fully prepared to expand cooperation with all members of the Islamic Financial Services Board in various areas, including opening banks and branches, establishing correspondent relations,…

Overhauling the laws and regulations of the country’s banking system would be one of the main priorities of Majlis Economic Commission during the current fiscal year that started on March 21, the…

Banque de France, the central bank of France, has reportedly removed all and any remaining restrictions on the Paris branch of Bank Saderat Iran, meaning that the branch is now able to provide…

The government has kicked off its guaranteed purchase of wheat from local farmers in the new Iranian year (started March 21). “Purchases have been made in Kerman and Sistan-Baluchestan provinces…

The three indices of employment, economic growth and inflation must be taken into consideration for the new Iranian year (started March 21), a former president of Iran Chamber of Commerce,…

Opinions are divided in the Iranian steel market about the forthcoming reduction of import tariffs on flat steel products amid insufficient supply and stronger domestic demand.

Iran Steel…

Tehran Province generated 290.89 trillion rials ($7.65 billion) in public revenues in the 11 months of the past Iranian year (March 20, 2016-February 18, 2017), registering an 18.5% rise compared…

More than 200,000 small- and medium-sized enterprises were founded in Iran during the Iranian year that ended on March 20, 2017, the head of Iran Chamber of Guilds said.

“SMEs account for…

Tehran with 969.2 people and Semnan with 7.2 living in each square kilometer are the most and least populated provinces in Iran respectively, the findings of the recent National Population and…

The Islamic Republic of Iran Shipping Lines has signed a memorandum of understanding with two Japanese port and logistics services in Singapore.

Since the signing and implementation of the Joint Comprehensive Plan of Action, European businesses have shown great interest in reentering Iran. Trade between Iran and the EU has already picked…

The Iranian ICT market has grown three-fold since 2013 as new players enter the robust sector with an eye on digitization and a share of the gradually expanding market.

Progress in the…

A sensational new material that could offer clean water for millions of people around the world has been created in the lab in the north of England.

The government is to invest 4.9 trillion rials ($130 million) in the ICT sector in the eastern Khorasan Razavi Province.

According to CITNA, 3.2 trillion rials ($84 million) will be…