Economy

Renault is set to operate independently in Iran and  produce low-budget cars starting with the Kwid model according to one auto expert.

Head of Iran’s Auto Part Manufacturers…

Realtors in Tehran recorded 15,600 residential real-estate deals during the 11th month of the Iranian fiscal year (ended February 18), indicating a 4.5% drop compared with the same period of last…

The parliament convened early Sunday and passed measures on foreign finance, withdrawals from the National Development Fund of Iran, transfer of funds from the banking network to the treasury,…

Insurers' total premium income reached 229 trillion rials ($6 billion) in the Iranian year ending March 2016 to register a 75% increase compared with the same time three years ago, said the head…

Since the extension of incentives that waived the penalties for motorcyclists without insurance, there has been a 60% increase in third-party motorbike insurance, said the director of Personal…

An Azerbaijani bank will open its branch in Iran, Economy Minister Shahin Mustafayev told a press conference on the outcome of an Azerbaijani delegation’s visit to Iran. The issue was discussed…

The Iranian lead and zinc industry needs 12 trillion rials ($315.78 million) of investment for development, according to managing director of Iran Zinc Mines Development Company, Ardeshir Sa’d-…

In the current tea harvest season, the government purchased more than 139,000 tons of fresh tea leaves, worth 2.34 trillion rials (close to $62 million), from farmers, of which 31,200 tons of…

Trade between Iran and Indonesia will grow 25% to hit $1.2 billion in 2017, the Iranian chairman of Iran-Indonesia Economic Commission, Mahmoud Vaezi, predicted in a meeting with visiting…

Packaging introduces the product and protects it from the time it is produced until it’s sold.

Unfortunately, the issue has been neglected in Iran such that domestic products’ packaging can…

The government pays 60 trillion rials ($1.58 billion) in wheat subsidies annually.

It paid 12,705 rials (around 34 cents) to local farmers for each kilogram of common wheat and 13,068 rials…

Iran imported 72,000 tons of tires worth $244 million this year (March 2016-17), registering a 9% decrease in terms of weight compared to last year, the chairman of Tire Industry Association of…

Isfahan Province exported 2.6 million tons of goods worth around $1.1 billion during the 11 months of the current Iranian year (started March 20, 2016), Isfahan Customs Administration’s Director…

The Iranian Parliament on Sunday passed Iran’s general budget for the upcoming new year (March 2017-18).  The lawmakers put the figure at 3.98 quadrillion rials ($104.6 billion).

The…

Mobile World Congress 2017 began in Barcelona on February 27 with dozens of new smartphones vying for media attention. LG, Sony, Huawei, and other companies will use the big event as a showcase…

Local messaging applications created by private firms which have been successful in attracting Iranian users will receive incentives from the Presidential Office for Science and Technology.

Iran’s ICT Startup Empowerment and Facilitation Center (ISEFC) is to open more than 20 startup incubators throughout the country in the next fiscal year that starts in mid-March.

ISEFC is a…

Iran’s Communication Regulatory Authority (CRA) has issued an official notice to the country’s largest mobile operator over the declining MCI call quality due to a poor rollout of 4G services.…

The total debt of insurance companies to pharmacies has reached 40 trillion rials ($1.05 billion), 97% of which are held by private drugstores and the rest is owed to public-sector entities, said…

Banks and credit institutions have been ordered not to extend any kind of banking services to businesses that have not presented their balance sheets, announced the head of Majlis Economic…

When foreign exchange rates are unified, setting a fixed rate for it will be meaningless since foreign exchange rates, like any other commodity, are determined by supply and demand, a member of…

The rial was 37,800 to the dollar on Saturday, marking a 0.08% gain against the US currency compared with the previous day’s close, according to Tehran Gold and Jewelry Union's website. 

For International Financial Reporting Standards to truly take hold in Iran, they must be accorded significance on the national scale, the governor of the Central Bank of Iran said.

The government has purchased around 20,000 tons of oranges from Egypt, which will enter the country in the coming days, Deputy Agriculture Minister Ali Akbar Mehrfard said on Saturday. Stressing…

Iran’s non-oil trade during the 11 months of the current Iranian year (started March 20, 2016) amounted to $76.9 billion, indicating a 1.8% increase compared with the…