Economy

The mining, oil and gas sectors account for 29% of Iran’s GDP, says Amir Sabbagh, an official with the Iranian Mines and Mining Industries Development and Renovation Organization.

Seoul-based home electronics company Dongbu Daewoo Electronics said on Monday it would exclusively provide home appliances to Iran’s largest electronics firm, Entekhab.

Companies are working on running more projects and plans, as Iran emerges from recession and a decade of sanctions. What they lack most, however, is money.

The garment industry has gone through drastic ups and downs in the past couple of years and is now struggling to keep the sizable market of men’s shirt production up and running.

Tehran Stock Exchange’s main index gained 165.60 points or 0.22% to close Monday trade at 76,613.9. Large-cap auto companies, banks and oil refineries were the main driving force behind TEDPIX’s…

Allameh Tabatabaei University agreed on Monday to help enhance Tejarat Bank’s compatibility with international banking norms, including risk management, corporate sovereignty and anti-money…

As the rules of the Central Bank of Iran prohibit lenders from offering high deposit rates to lure more savings, some banks have come up with alternative methods to get ahead in the race to…

The head of the Iranian National Tax Administration said Monday henceforth vacant homes would be taxed and the new rules would apply from the fiscal year that started in March.  

Respondents to a recent survey by donyayetablighat.com, a website specializing in ad industry news, have said that Tourism Bank’s ad campaigns have had the most effect on them among the ads run by…

Shaparak, the domestic payment and settlement network, handled 831 million transactions during the first month the fiscal year that ended in March with a total value of 786.3 trillion rials…

The Eurasian Economic Union has eliminated customs duties for a number of Iranian agricultural products, Iran’s Embassy in Russia announced.

Iranian traders will not be allowed to use preferential exchange rates for importing butter and frozen chicken, as per a new regulation passed by the Trade Promotion Organization of Iran,…

More than 350 tons of saffron were produced in the last Iranian year (March 2015-16), which was 25% more than the year before, Deputy Agriculture Minister Mitra Majdzadeh said. “The area under…

Halal production is a lucrative business and its growing global demand requires Iran and other Muslim countries to seriously pursue the trading of halal products.

It is estimated that in…

Mass production of Lifan 820 began at Kerman Motors Company and sales started on May 21 at all official showrooms, the company's head of customer support said.  As announced earlier, Lifan…

As part of SAIPA's push to develop its regional market, one of its latest locally assembled products, Ario—a midsize sedan—has been released in the southern Iraqi city of Basra.  SAIPA has…

German regulators suspect that Italian-American automaker Fiat Chrysler, like Volkswagen, used illegal software to cheat on emissions tests, a newspaper report said on Sunday.

The German…

Iran Khodro Company is in talks with India's Tata Motors to set up a joint venture for assembling its gasoline cars in Iran, as Tata looks to tap the fast growing market that has just emerged from…

New deposits of thermal and metallurgical coal have been discovered in the north and central Iran, which are estimated to be more than 350 million tons, announced Iran Minerals Production and…

Iran's central bank is trying to enhance the interbank market by using new instruments, like Islamic repo agreements, which would also help “form a debt market in the country,” according to the…

Britain and Europe are trying to come up with new mechanisms to help reestablish banking relations with Iran, said the UK Secretary of State for Foreign and Commonwealth Affairs, Philip…

Trends in Tehran’s housing prices decry the bitter truth that it is grappling with recession since November 2013 with no signs of respite any time soon.  However, data shows that home sales…

Larger UK banks may keep on avoiding business with Iran as long as the US sanctions program remains in place, but smaller and middle-sized banks and businesses are keen on commercial engagement…

Iranian and Singaporean officials discussed launching a joint bank, in an attempt to ease investments and commercial relations, said head of Iran’s Chamber of Commerce, Industries, Mining and…

According to the latest figures released by the Ministry of Industries, Mining and Trade, “Food and Beverage Industries” and “Chemical Materials and Products Manufacturing” groups were “the most…