• 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.

  • BMI Loans for Turkey Business
    05/14/2018
    Bank Melli Iran, the nation’s biggest state-owned lender, has called on Iran and Turkey’s businesspeople to tap into special letters of credit facilities offered as part of the nations’ currency...
  • Raw Silk Imports Top $11m
    05/14/2018
    About 292 tons of raw silk worth 385.76 billion rials ($11.28 million) were imported during the last Iranian year (March 2017-18), figures released by the Islamic Republic of Iran Customs...
  • MSC Sees Double-Digit Growth in Output, Sales
    05/14/2018
    Iran’s largest flat steel producer Mobarakeh Steel Company ended the first month of the current fiscal year (started March 21), with double-digit upticks in production and sales value while sales...
  • Doha Hosts 6th Meeting of Iran-Qatar Economic Commission
    05/14/2018
    The first day of the sixth meeting of Iran-Qatar Economic Commission was held on Sunday in Doha where economic and business experts from the two countries surveyed issues of mutual interest.  The...
  • 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...
  • Iran-Bulgaria Business Forum in Tehran
    05/14/2018
    A forum between Iranian and Bulgarian businesses has been scheduled to be held at Iran Chamber of Commerce, Industries, Mines and Agriculture on Monday. The Bulgarian delegation is headed by the...
  • 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-...
  • Non-Oil Trade With Belgium Rises 53%
    05/14/2018
    Iran traded $756.65 million worth of non-oil goods with Belgium in the last Iranian year (ended March 20, 2018), which is 53.5% more compared to the year before, making the European country Iran’s...
  • Rial’s Devaluation Makes Room for Stocks Growth
    05/14/2018
    The market capitalization of companies listed on Tehran's two stock exchanges has dropped by about 33% in US dollar terms in the past 14 months due to the rial's sharp devaluation against the US...
  • Chewing Gum Market Replete With Contraband
    05/14/2018
    Some 75% of the Iranian chewing gum market is dominated by foreign brands, most of which have been smuggled into the country while only 25% of the market is supplied by domestic brands, the...
  • The Bulgarian economic delegation met Iranian officials  in Tehran on May 13.
    05/14/2018
    Minister of Economic and Finance Affairs Masoud Karbasian called for increasing banking cooperation with Bulgaria, proposing that the EU member state open bank branches in Iran for facilitating...
  • ICCIMA Delegation to Accompany Rouhani in July Europe Visit
    05/14/2018
    An Iranian business delegation headed by Iran Chamber of Commerce, Industries, Mines and Agriculture Chairman Gholamhossein Shafei is scheduled to accompany President Hassan Rouhani to Switzerland...
  • NASA Sending Chopper to Mars
    05/14/2018
    NASA has long been able to check out Mars on the ground with rovers and landers and from far above...
  • 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...
  • Most State Entities Barred From Receiving Bank Interests
    05/14/2018
    The Central Bank of Iran has notified rules concerning interest paid to state bodies on their bank deposits.  According to the IBENA report on Sunday, most state entities cannot receive any...
  • Peanut Imports at $33 Million
    05/14/2018
    Iran imported more than 28,117 tons of peanuts worth $33.88 million during the last fiscal year (March 2017-18), Mizan Online reported, citing data from the Islamic Republic of Iran Customs...
  • Iran Air’s eight brand-new ATR turboprops took the flag carrier back to small airports.
    05/13/2018
    Since the lifting of anti-Iran sanctions on January 2016, as part of the deal it signed with six powers, 11 new planes have joined Iran Air’s fleet.  The impact of the long-awaited move was not...
  • About 1.05 billion shares valued at $51.4 million changed hands at TSE on May 12.
    05/13/2018
    Tehran Stock Exchange’s main index gained 199.94 points or 0.21% on Saturday compared to the day before to end trade at 93,891.12. About 1.05 billion shares valued at $51.4 million changed hands...
  • Haval H2
    05/13/2018
    During the ceremony to deliver the first series of the Haval H2 to customers, Bahman Motor CEO Hamid Davoudzadeh announced that Haval H6 will arrive in the market in October. While the private...
  • Hyundai Kona's Iran Debut Slated for Summer
    05/13/2018
    Iranian automaker and local partner of Hyundai Motor is set to unveil the South Korean firm's small SUV Kona by late June. According to Kerman Motor's marketing manager, the Kona will be...
  • The production facility was inaugurated on April 24, during a ceremony attended by Industries Minister Mohammad Shariatmadari.
    05/13/2018
    With an investment of 1.2 trillion rials ($28.5 million), Iran’s first die-casting mold factory has started operations in the northwestern city of Tabriz. The project aims to cater to the needs of...
  • Banking Sector to Take No Hit From US JCPOA Exit
    05/13/2018
    Iran’s banking sector has rebounded in the absence of sanctions lifted under the 2015 nuclear deal and will continue to rebuild its foreign correspondent relations despite the recent US withdrawal...
  • Wheat Output Estimated to Top 13m Tons
    05/13/2018
    About 13.4 million tons of wheat are estimated to be produced in the country during the current fiscal year (March 2018-19), the manager of “Wheat Project” undertaken by the Ministry of Agriculture...
  • BMI Targets Lower Lending Rates
    05/13/2018
    One of Iran’s top bankers has renewed the beleaguered banking system’s call for service fees to emerge as the main source of income instead of interests. “Bank Melli Iran has started charging...

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