• New Report Reveals Banks’ NPL Ratio Gap

    A senior member of Majlis Article 90 Commission presented the latest report on the state of non-performing loans of Iran's banking system in Tuesday's open session, which painted a highly contrasting picture.
    "At present, even the banking regulator [Central Bank of Iran] lacks precise data about the volume of banks' restructured loan portfolios," Farhad Tajari was also quoted as saying by ICANA, the official news outlet of the parliament.
    However, he made a claim that, if proven to be true, paints a dark picture of the banking system.
    "Unofficial statements concerning the real volume of non-performing loans offered by the banking system using various techniques tell of a ratio going as high as 50% of all bank loans," he said. 

Economy

Iran economynews, Get the latest news about Iran economy, trade, growth prediction, agriculture, transport, aviation, infrastructural developments and investment opportunities.

  • SCI: Single-Digit Inflation Rates in 26 Provinces
    05/17/2018
    The Statistical Center of Iran has announced the latest inflation rates for the country’s 31 provinces.  The report shows 26 provinces posted single-digit inflation rates while western provinces...
  • BMI Housing Loan Applicants Reach 26,000
    05/17/2018
    The number of prospective homeowners applying for state facilities under a special housing scheme launched by Bank Melli of Iran as recently as January hit 26,000, BMI’s Public Relations Office...
  • First Sports Economy Conference Planned
    05/17/2018
    The private sector needs to play a bigger role to increase the impact of sports on Iran’s economic growth.  This was the focus of a roundtable organized by Donya-e-Eqtesad Media Group, the...
  • Home Rents  to Rise by 15%  in Summer
    05/17/2018
    Iranian tenants will experience a housing rent increase of 15% in the summer, which is beyond the current inflation rate of under 10%, according to the deputy head of Tehran Association of Realtors...
  • Local Ride-Hailing App Releases Latest Figures
    05/17/2018
    In a gathering to report MTN-Irancell’s activities and projects, ride-hailing company Snapp, supported by the mobile operator, announced statistics regarding the service’s fortunes. During the...
  • Since the Iran nuclear deal came into effect in early 2016, many EU companies have engaged in deals with Iranian companies.
    05/17/2018
    Tehran has taken preliminary steps to establish a bank for transactions between Iran and the European Union in euro to settle all financial issues that might arise after Washington's recent...
  • Non-Oil Trade With Sweden Exceeds 100%
    05/17/2018
    Iran traded $723.35 million worth of non-oil goods with Sweden during the last Iranian year...
  • Federica Mogherini
    05/17/2018
    The European Union on Tuesday launched work on a nine-point economic plan to keep the Iran nuclear deal alive after the abrupt withdrawal of the United States. Europe is scrambling to come up with...
  • IMIDRO Outlines Steel Sector’s Monthly Performance
    05/17/2018
    A total of 3.88 million tons of iron ore concentrate was produced in Iran during the first month of the current fiscal year (March 21-April 20), to register a 30% growth compared with last year’s...
  • Pergas Consortium Signs HOA to Develop Iranian Oilfield
    05/16/2018
    Pergas Consortium, a group of international oil and gas companies, signed a heads of agreement (HOA) on Wednesday with the National Iranian South Oil Company on developing Karanj Oilfield in...
  • Sorena Sattari
    05/16/2018
    A memorandum of understanding was signed between MTN-Irancell, University of Tehran and science and technology officials on Sunday, working toward the establishment of a venture capital fund and a...
  • Non-Oil Trade With Oman Rises 13%
    05/16/2018
    Iran traded $736.63 million worth of non-oil goods with Oman during the last Iranian year (ended March 20, 2018), marking a 13.63% rise compared to the year before, 
  • Zero Contribution of Productivity to Economic Growth
    05/16/2018
    Productivity was expected to contribute 30% of Iran’s economic growth as per the fourth and fifth five-year development plans (2006-11 and 2011-12) respectively, the head of National Iranian...
  • Google Under Scrutiny in Australia
    05/16/2018
    Google is under investigation in Australia following claims that it collects data from millions of Android...
  • China, Russia Ready to Replace Europeans in Railroad Projects
    05/16/2018
    European companies active in Iran’s rail sector have not yet taken a stance whether to continue or end their cooperation with the Iranian sides after the US unilateral pullout from Iran’s nuclear...
  • Iranian steelmakers produced 41.66 million tons of products during the year to register a 13.7% growth compared to last year’s corresponding period.
    05/16/2018
    Iranian steelmakers exported 8.49 million tons of products during the last fiscal year (ended March 20, 2018), registering a 53.4% year-on-year growth, the Iranian Steel Producers Association said...
  • About 907 million shares valued at $38.81 million changed hands at TSE on May 15.
    05/16/2018
    Tehran Stock Exchange’s main index gained 202.66 points or 0.21% on Monday compared to the day before to end trade at 94,906.1. About 907 million shares valued at $38.81 million changed hands at...
  • Compliance With US Demands Will Harm NZ Exporters
    05/16/2018
    New Zealand businesses would suffer if its government gave in to threats from the United States...
  • The Economy's Ministry's statement was issued in response to media reports that cast doubt over the fate of finance deals.
    05/16/2018
    The Economy Ministry has issued a statement, denying that the finance deals signed by Iran with other countries are jeopardized or dead, now that the US has decided to pull out of the multilateral...
  • Mazandaran to Establish House of Commerce in Volgograd
    05/16/2018
    An agreement has been reached between the head of Mazandaran Chamber of Commerce and the head of Volgograd Chamber of Commerce and Industry in Russia to set up a house of commerce in the Russian...
  • Akbar Qanbarpour
    05/16/2018
    The 7th International Innovation and Technology Exhibition (Inotex 2018) is set to put the development of smart cities under the limelight and draw attention to the application of modern...
  • EU Leaders to Discuss Iran Economic Options Today
    05/16/2018
    European Union leaders will discuss on Wednesday shielding European companies doing business with Iran from US sanctions, a senior official said as the bloc is in damage control mode following...
  • Alborz Attracts $555m in FDI Post JCPOA
    05/16/2018
    Alborz Province in north-central Iran has attracted $555 million in foreign direct investment following the nuclear deal Iran signed with world powers in 2015 (known as Joint Comprehensive Plan of...
  • With ITU’s Support Iran Hosts Cybersecurity Course
    05/16/2018
    A world-class cybersecurity training program is currently being held in Tehran jointly by the International Telecommunication Union (ITU), Indian Advanced Level Telecom Training Center (ALTTC) and...
  • Business as Usual at Iranian Ports
    05/16/2018
    Despite US withdrawal from the nuclear deal, it's currently business as usual for foreign container shipping operators at Iranian ports, a deputy head of Ports and Maritime Organization said. "...

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