• 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.

  • 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, 
  • 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...
  • China Appreciates US Position on ZTE
    05/15/2018
    China’s Foreign Ministry said on Monday the country appreciated the US position on ZTE Corp, following...
  • Maritime insurers are warning that the winding down of businesses can lead to serious ramifications, including processing of the protection and indemnity cover and other related payments.
    05/15/2018
    As the countdown begins for the restoration of US sanctions on Iran, many shipping companies such...
  • Iran Road Casualties Cost 7% of GDP
    05/15/2018
    Motor vehicle crashes cost Iran as much as 6-7% of the country’s gross domestic product, the head of Air Emergency Medical Services said on Monday.  Noting that road accidents claimed the lives of...
  • 144% Rise in Trade With Indonesia
    05/15/2018
    Iran traded $909.02 million worth of non-oil goods with Indonesia in the last Iranian year (ended March 20, 2018), which was 144% more compared to the year before, making the Southeast Asian...
  • Russian Delegation in Mazandaran
    05/15/2018
    A delegation from Russia’s Volgograd Oblast arrived in Sari, the provincial capital of Mazandaran, on Monday for a three-day visit aimed at exploring ways of boosting bilateral trade. The Russian...
  • TEDPIX Gains 537 Points
    05/15/2018
    Tehran Stock Exchange’s main index gained 537.65 points or 0.57% on Monday compared to the day before to end trade at 94,703.5. About 795 million shares valued at $39.96 million changed hands at...
  • Payment Industry Awaiting Currency Allocation
    05/15/2018
    After the unification of the US dollar’s exchange rate, the payment industry has yet to receive hard currency at the rate of 42,000 rials for importing equipment and hardware. The CEO of Beh...
  • Millions of Hours Down the Drain in Tehran’s Massive Traffic Snarls
    05/15/2018
    Tehran citizens are forced to squander 20 million hours a day in the overcrowded, traffic-clogged metropolis. According to Mohammad Darvish, a prominent member of the Iranian Research Institute of...
  • North Railroads Double-Tracking Feasibility Studies Underway
    05/15/2018
    Feasibility studies are underway to double-track the North Railroads Network, stretching from the city of Garmsar in Semnan Province in central Iran to Galougah in the northern Mazandaran Province...
  • US Threatens European Firms With Sanctions for Business With Iran
    05/15/2018
    The United States threatened on Sunday to impose sanctions on European companies that do business...
  • 180 People Arrested Over Forex-Related Offences
    05/15/2018
    Tehran Prosecutor Abbas Jafari Dolatabadi said the judiciary has arrested 180 people on charges of...
  • $4m Allocated for Revival of  Palm Trees in Shadegan
    05/15/2018
    Some 170 billion rials ($4 million) have been earmarked in the current fiscal budget to revive the palm trees of Shadedan in the southern Khuzestan Province, the government spokesperson said....
  • IKCO Launches Stock Monitoring Application
    05/15/2018
    Iran largest automaker Iran Khodro has launched an application to ease the shareholders’ work in observing their stocks and the latest changes in their value. Investors can use the app to receive...
  • ATR to Continue Delivering Iran Air Planes; Boeing, Airbus to Decide Soon
    05/15/2018
    Franco-Italian planemaker ATR is ready to deliver a number of airplanes to Iran Air before the US sanctions’ revival in August, an advisor to the minister of roads and urban development said on...
  • CAR is one of the biggest weak points of the country, as the Central Bank of Iran still operates on the  more than two-decade old Basel I standards.
    05/15/2018
    After reviewing Iran’s conformance to a host of international banking regulations and standards, the research arm of the parliament has noted that the country’s banking woes are rooted internally...
  • AML Law Amendment Underway
    05/15/2018
    In view of the Financial Action Task Force’s next plenary meeting in June, Iran is updating its Anti-Money Laundering Law, along with other ongoing reforms to fulfill the body’s action plan.  Last...
  • 5 MoUs to Boost Relations With Sri Lanka
    05/15/2018
    Iran and Sri Lanka signed five memoranda of understanding in the presence of the two countries’ presidents...  
  • $1b of Domestic  Investment for Kurdestan Steel Production
    05/15/2018
    Iran's largest state-owned mining holding and a consortium of steelmakers signed an agreement on Sunday to invest $1 billion in setting up an integrated steel production chain in Kurdestan Province...
  • SAIPA-Citroen JV Announces Iran Presale
    05/14/2018
    Iranian carmaker SAIPA and its French partner PSA’s Citroen brand announced an upcoming presale of the Citroen C3 in Iran few days after the hawkish President Donald Trump pulled the United States...
  • An Irancell TD-LTE modem
    05/14/2018
    Iran’s major mobile operator and Internet service provider MTN-Irancell is swapping subscribers’ WiMAX modems which are mostly used at homes for TD-LTE ones, which will translate into increased...
  • Sorena Sattari (R) met with Mauro dell’ Ambrogio in Tehran on May 9.
    05/14/2018
    Iran’s Vice President for Science and Technology Sorena Sattari met with Swiss State Secretary for Education, Research and Innovation Mauro dell’ Ambrogio in Tehran to hold talks about expansion of...
  • TEDPIX Ends Sunday Trade 0.29 Percent Higher
    05/14/2018
    Tehran Stock Exchange’s main index gained 274.54 points or 0.29% on Sunday compared to the day before to end trade at 94,165.6. About 704 million shares valued at $34.15 million changed hands at...
  • Mohammad Javad Azari-Jahromi
    05/14/2018
    ICT Minister Mohammad Javad Azari-Jahromi took a one-day trip to the northern province of Gilan on Friday to inaugurate several ICT projects and discuss the future of the administration’s long-...

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