The domestic copper industry’s path to growth is impeded by rising exchange rates, shrinking global prices, low profit margins and the country’s underdeveloped downstream industries which, in turn…
Economy
A high-ranking Iranian delegation headed by Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh will attend the St. Petersburg International Forum to be held during June 16-18, 2016…
Over 80% of Iran’s mines have either gone out of business or are operating below capacity, while those still in the business are state-owned and barely making a profit, the head of the Mining and…
Iran’s annual demand for steel pipes and profiles is close to 1.8 million tons, according to Bahram Sobhani, the managing director of Mobarakeh Steel Company.
According to Tehran Industries, Mining and Trade Organization, cigarettes and tobacco top the list of confiscated smuggled goods during the first two months of the current Iranian year (March 20-…
Iran accounted for 64% of Turkey›s date imports last year, as more than 16,540 tons of the fruit worth over $4.9 million were shipped to the neighboring country.
Meanwhile, Tunisia exported…
More than 190,000 tons of watermelon worth $32 million were exported in the first two months of the current Iranian year (March 20-May 20, 2016).
The main export destinations for Iranian…
Iran is gearing up for a comeback in global shipping by systematically replacing its aging fleet.
An under-construction concrete runway in Mehrabad International Airport in western Tehran will become operational by September, a deputy transport minister said.
Ford Motor Company and Fiat Chrysler Automobiles are cutting production of smaller cars and idling workers at some North American factories, while boosting output of crossovers and SUVs in…
Two South Korean automakers are opening official dealerships in Iran's southwestern Arvand Free Trade Zone, according to sources familiar with the issue. Arvand Free Trade Zone is spread over 144…
SAIPA is in talks with troubled Pakistani auto assembler Dewan Farooq Motors Limited to produce right-hand drive versions of its Pride vehicles, according to a new report in the Persian-language…
Researchers at Pen Test Partners have wirelessly hacked the Mitsubishi Outlander Hybrid SUV, allowing the group to take control of the vehicle's electric charging and even switch off the alarm…
Iran and South Korea will replace their mutual customs documentations with electronic ones, the Islamic Republic of Iran Customs Administration reported.
Iran and China are planning to set up a joint industrial town, in which auto parts will be manufactured, the deputy head of Iran Small Industries and Industrial Parks announced.
Reza…
Temenos is closing in on a core and digital banking software deal in Iran, Banking Technology reported. The vendor is believed to be in talks with Ayandeh Bank (Future Bank). The bank offers…
The Minister of Economy and Finance Ali Tayebnia says extensive plans are underway by the government to help fix the credit crunch besetting the economy and raise the capital of banks.
Italy’s export credit agency SACE plans to move into Islamic finance, including developing business with Iran, where the banking system is designated Islamic, after the lifting of international…
The Central Insurance company of Iran–the industry’s regulator– is working on a comprehensive program to overhaul the insurance industry which includes plans to reorganize the domestic market and…
Reiterating the need and necessity to reform the banking sector and improve standards to meet global norms, the Governor of the Central Bank of Iran, Valiollah Seif, said Tuesday that the…
Pakistan’s mango exports to Iran seem to be facing a threat of ban due to the negligence of Pakistani authorities in observing sanitary standards. Three Pakistani consignments were intercepted…
Iran exported $20.4 million worth of commodities to the United States during the first four months of 2016. The Islamic Republic had no exports to the US during last year’s corresponding period,…
Iran’s Taban Air launched its first flight between Tehran and Russia’s Astrakhan on Tuesday, according to the deputy head of Trade Promotion Organization of Iran. “The flight will operate two days…
A senior Brazilian official will lead a trade delegation to Iran during June 10-13.
Economic reform is a choice between short-term relief and long-term reward, and “creative destruction” is what the doctor has prescribed for Iran’s economy.
That is the central idea of…
