Economy

Iran hopes to raise hundreds of billions of dollars needed to repair its sanctions-hit economy, but first it must win over global investors.

The government will increase its spending in next year's budget [new Iranian fiscal year starts March 20, 2016], says Economy Minister Ali Tayebnia. Most of the increase will come from capital…

The president’s senior economic advisor published a note last week that highlighted “11 super challenges” in Iran’s path to sustainable economic growth and stable single-digit inflation—a target…

The nuclear deal clinched between Iran and world powers is no silver bullet for improving trade ties between Iran and Turkmenistan, said Deputy Economy Minister Mohammad Khazaei in a forum…

Decades of economic restrictions have strained Iran’s ability to finance its growth and to trade with the world. Now this market of 80 million is ready for–and can afford–everything from airplane…

Some 1.6 million tons of goods, namely 1.4 million tons of non-oil products and 200,000 tons of oil commodities, were handled at Kish Port from March to October, Mohammad Jahanshahi-Nasab, the…

Iran and Azerbaijan are scheduled to hold the next meeting of their joint economic commission in Iran this week. The upcoming meeting will be held in two sessions during December 22-23: one in the…

The completion of Iran’s Integrated Tax System and direct taxation plan, creation of financial transparency and nurturing of tax culture as well as the overhaul of Value Added Tax Law top Iran’s…

The current share of compressed natural gas in the national fuel basket is more than 23%, that is, gas comprises almost a quarter of all transport fuel consumed in Iran.

French car manufacturer Renault has announced that the company exported 8,050 cars to Iran in November 2015.  

According to Tasnim News Agency, a year-on-year comparison shows a…

Starting in the second half of 2016, Iran’s second largest auto manufacturing company, SAIPA, will start the production of five models in Algeria, said Mehdi Jamali, the company’s CEO.

The…

The auto loans helped jumpstart the auto part manufacturing industry, said a member of Iran’s Auto Part Manufacturers Association. Last month, the auto part industry made a fresh start and the…

Russia may cut or cancel import duties on agricultural produce, mainly vegetables and fruits, from Iran, Economy Minister Alexei Ulyukayev was quoted as saying by the ministry's press service on…

Central Bank of Iran will soon reduce up to 3% of banks’ reserve requirement based on their recent performance and increase the reserve requirements of unruly banks as a punitive measure.

Central Bank of Iran released the details of the credit card scheme on Wednesday. According to CBI’s website, the new cards will be valid only for purchasing home appliances made by domestic…

Asian banks are expected to be among the first institutions to venture into Iran once sanctions are eased, with western financial players remaining cautious for now, banking officials said on…

A Tehran-based analyst has censured the Central Bank of Iran for recent raids on the unofficial foreign exchange market by Law Enforcement Forces saying the unlicensed money exchange networks…

A cut in interest rates looms large for businesses big and small, drawing mixed reactions from businesses of all stripes. Insurance companies were among the first to voice dismay and concern over…

According to Iranian Mines and Mining Industries Development and Renovation, 17.8 million tons of iron ore concentrate were produced during the eight months ending November 21, indicating a 1%…

The value of Tehran Stock Exchange-listed industrial and mining companies plummeted as much as 80% in the eight months ending November 21, announced a deputy minister of industries, mining and…

Pistachio accounts for 10% of Iran’s non-oil exports, a board member of National Institute of Generic Engineering and Biotechnology said. Seyyed Mehdi Seyyedi added that Iran was the world’s top…

Exports by cooperatives in the seven months ending October 22 stood at $1.3 billion, according to deputy minister of cooperatives, labor and social affairs, Hamid Kalantari. The cooperatives…

Algeria’s Prime Minister Abdelmalek Sellal underlined the need to step up efforts to boost economic cooperation with Iran.

Japan is preparing to sign an investment deal with Iran in January.  A Japanese government official told NHK that the two sides are now at the final stage of working out the details of the…

German engineering trade group VDMA said it planned to open an office in Tehran in the first half of 2016 to help companies sell machinery.

“Embargo products are very specific products. Our…