Economy

Bank Pasargad Iran is seeking to launch a branch or a subsidiary in Switzerland, said the bank’s chief executive, Majid Qassemi on Thursday.

“Switzerland is one of the countries we have set…

The Central Bank of Iran has finally agreed with the long-pending real estate leasing scheme which was proposed by the National Association of Leasing Companies. The scheme will be legally-binding…

The Insurance industry’s loss ratio stood at 63.8% during the fiscal year that ended on March 19, marking a year-on-year increase of about 5%.

In a move to ease trade relations with Iran, the Central Bank of Turkey has issued instructions for banking transactions to be conducted in local currencies. Chairman of the Istanbul Chamber…

The central banks of India and Iran have reached an arrangement to use European banks to process pending oil payments to Tehran, India's Oil Minister Dharmendra Pradhan told Reuters, unlocking $6.…

Siemens revised upwards its valuation of its backlog of orders from Iran on Wednesday, citing resurgent business prospects in the country following the easing of international sanctions.

German multinational engineering and electronics company Robert Bosch GmbH will resume its business in Iran under the brand name of “Bosch Tejarat Pars” private joint stock.  

The…

Compared to most oil-rich countries in the Middle East, Iran has a diversified economy, such that its tourism sector is on the verge of a major windfall.

Iran’s Refah Chain Stores Company and Korea Agro-Fisheries and Food Trade Corporation have signed a memorandum of understanding for cooperation.

Iran is in talks with Moody’s Investors Service and Fitch Ratings about restarting sovereign credit ratings for the oil-rich state, Iran's Economy Minister Ali Tayyebnia said.

Iranian stocks remained in slumber while the dollar sank to a six-week low against the rial due to rising oil prices during the past week. This is while Azadi gold coin got knocked off its highest…

Iranian Aluminum Company (Iralco) signed an investment agreement worth $2 billion with China Railway Group Limited in Tehran on Wednesday. “The project will be carried out in the second plant of…

Tehran and Minsk agreed over an economic cooperation roadmap for 2016-17 on Wednesday during the 13th session of Iran-Belarus Economic Commission. Iranian Minister of Industries, Mining and Trade…

Lebanon’s Industry Minister Hussein Hajj Hassan said he is planning to visit Iran soon together with a delegation of industrialists, bankers and investors to discuss ways of enhancing cooperation…

Iran has started the cultivation of wheat and oilseeds in Kazakhstan as part of its agro outsourcing program, said the deputy agricultural minister.  Abbas Keshavar added that Ukraine, Russia…

The Third Europe-Iran Forum concluded on May 4 after the European business community reviewed the current challenges with regard to doing business with Iran.

The two-day event in the Swiss…

President Park Geun-hye arrived in Seoul on Wednesday after a landmark state visit to Tehran focused on boosting bilateral economic cooperation.

The visit–the first by a South Korean…

The Google Self-Driving Car Project and Fiat Chrysler Automobiles have announced that they will integrate Google’s self-driving technology into all-new 2017 Chrysler Pacifica Hybrid minivans to…

Apple Inc has lost a battle for the use of the "iPhone" trademark on leather goods in China, after a Beijing court ruled against the world's biggest technology company in favor of a local firm,…

South Korea and Iran agreed to promote partnership in the fields of science and technology during South Korean President Park Geun-hye's landmark visit to Tehran.

Islamic Azad University’s Oxford Branch will start admissions from the next academic semester, said IAU’s deputy for education. The Oxford Branch has obtained the permits and licenses for…

The First IORA Free Trade Zones Authorities Conference will be held on May 19-20 in Chabahar Free Zone in the southeastern Sistan-Baluchestan Province.

India has agreed to pay Iran 1.5 % interest on $6.5 billion that refiners like Essar Oil and Mangalore Refinery (MRPL) owe it in oil dues, as a ‘goodwill gesture’.

Iran had sought an…

The first South Korean bank inaugurated its representative office in Tehran at a ceremony held at the Central Bank of Iran on Monday.  

The Export-Import Bank of Korea (Korea Eximbank) said Tuesday that it signed a financial package worth $15 billion with the Iran’s central bank and government, paving the way for local companies…