Economy

Chadormalu Industrial and Mining Company must pay an aggregated $565 million in mining royalties and usufruct to the government for the 2013-16 period, says managing director of the company.

The agriculture sector makes up 20% of Iran’s non-oil exports, 15% of GDP and 20% of employment, said the deputy head of Agricultural Research, Training and Promotion Organization. Gholamhossein…

Iran is planning to build two million housing units in Algeria by 2019, says an official with Trade Promotion Organization of Iran.

Economic cooperation with Iran’s East Azarbaijan Province is on top of Azerbaijan Republic’s agenda, said the visiting Azeri Minister of Economic Development Shahin Mustafayev during the second…

The goods and services Consumer Price Index for urban areas increased by 12.6% in the 12-month period ending December 21, which marks the end of the Iranian month of Azar, compared with last year’…

Iran Chamber of Commerce, Industries, Mines and Agriculture has established an investment consulting center to act as a bridge between Iranian companies and foreign investors, in preparation for…

Scotland’s former first minister, Alex Salmond, led a fact-finding mission to Tehran this week to open a dialogue between Scotland and Iran and boost economic and cultural links between the two…

As Russia is looking for new markets amid the prospects of sanctions removal, dozens of companies from the state-backed Russian Railways and other high-profile companies displayed their products…

A total of 50 Turkish food, furniture and seafood exporters met their Iranian counterparts as well as Iranian officials to discuss fresh opportunities of cooperation in the new climate of Iran.…

Porsche workers have agreed to concessions worth several hundred million euros to secure production of an all-electric sports car at the manufacturer's biggest plant, a company spokesman said.…

Russia's automotive sector is likely to be one of the main beneficiaries of the nuclear deal reached by Iran and the West come January, as it has initiated moves to develop a market for its…

Google and Ford Motor Company are in talks about forming a partnership to develop autonomous car technology, a person briefed on the matter said on Tuesday.

A total of 165,000 clunkers have been taken off the streets up to now, Iran’s Transportation and Fuel Management Headquarters announced.

In the last Iranian fiscal year (ended March 20,…

Iran's second largest vehicle manufacturer, SAIPA, has announced a plan that will allow owners of SAIPA cars to swap their secondhand cars and clunkers with newer models, said the company's sales…

Uber on Tuesday announced a partnership with a major Chinese automaker, as the controversial ride-sharing service revved up efforts in the country.

Uber and Guangzhou Automobile Group will…

With China making repeated attempts to wean away India from Chabahar Port upgrade, New Delhi is rushing through a $150-million credit line for Iran and is fast-tracking bilateral negotiations to…

The Export Guarantee Fund of Iran and Kaz Export Garant have signed a MoU on the sidelines of the 6th annual meeting of the Union of Islamic Credit Insurers in Muscat, EFGI said in a press release…

Iran’s gold export market could be revived after the economic sanctions are removed, the head of Gold and Jewelry Producers and Exporters Union said.

Iran and Azerbaijan have signed agreements to start a correspondent banking relationship by the end of next month, Minister of Communication and IT, Mahmoud Vaezi said on Tuesday. He added that…

The International Monetary Fund has forecasted bright prospects for Iranian economy for 2016-17, as economic sanctions against the country are expected to be lifted.

A prominent economist has warned against rent-seeking that the recent credit card scheme may lead to, banker.ir website reported.

Central Bank of Iran has obliged the banks to pay POS terminals’ transaction fees, scrapping an earlier proposal to charge businesses and terminal owners for POS transactions, CBI’s website…

First Vice President Es’haq Jahangiri opened the 17th Marine Industries Conference and Exhibition in Kish on Tuesday. The conference, which aims to introduce the capabilities and latest…

Trade between Iran and Austria has grown 20% in 2015 compared to the previous year and is estimated to increase by the same rate next year, says Austria’s commercial attaché to Iran, Thomas…

Iran’s economy will grow between 5-6% in the next fiscal year (starting March 20, 2016), while inflation will drop below 11%, said the government spokesperson in a press conference on Tuesday.…