• 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.

  • Trump Meets Auto Executives
    05/13/2018
    CEOs or senior executives from ten American and foreign automakers met with President Donald Trump...
  • LME Keeps Status Quo on IRALCO After US Sanctions Snapback
    05/13/2018
    The London Metal Exchange is maintaining the status quo on its treatment of Iranian aluminum brand...
  • Housing Rent Index Grows
    05/13/2018
    The Central Bank of Iran has released its latest report on the index of housing rent across the country for the fourth quarter of the previous fiscal year (ended March 20, 2018), which shows an...
  • State Salaries to Be Made Public
    05/13/2018
    The Administrative and Recruitment Organization announced on Friday that a retrospective directive has been issued to all state entities on May 8 for disclosing the full details of payments,...
  • How Europe Could Save Iran Nuclear Agreement
    05/13/2018
    Foreign ministers from Germany, France and the UK on Monday will meet with Iranian officials...
  • 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...
  • The 2,300-kilometer Chinese railroad that links Urumqi, the capital of China’s Xinjiang Province, to the Iranian capital Tehran was first proposed in late 2015.
    05/13/2018
    A freight train service from Bayannur city in north China’s Inner Mongolia Autonomous Region to Tehran, Iran’s capital, was launched on Thursday morning. “The train, carrying 1,150 tons of...
  • 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...
  • 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...
  • 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...
  • Rosewater Exported to  30 Countries
    05/13/2018
    Around 4,344 tons of rosewater worth 428.1 billion rials ($12.24 million) were exported to 30 countries from Iran during the last fiscal year (March 2017-18), based on figures released by the...
  • Nvidia Sees Lower Crypto Revenue
    05/12/2018
    Too many cryptocurrency clients and fewer cloud computing orders than expected...
  • Export Billet, Slab Prices Increase With New Deals
    05/12/2018
    Prices for Iranian exports of steel billet and slab increased in the week ending May 9, with new...
  • ICT Minister Mohammad Javad Azari-Jahromi (R) and the Asia-Pacific Telecommunity’s secretary general, Areewan Haorangsi, met in Tehran on May 8.
    05/12/2018
    On the sidelines of a conference of the South Asian Telecommunication Regulators' Council (SATRC) in Tehran, Iran's ICT Minister Mohammad Javad Azari-Jahromi met with the Asia-Pacific Telecommunity...
  • France Vows Pushback Against US Sanctions  on Iran
    05/12/2018
    France pledged on Friday to push back against the threat of US sanctions against French companies...
  • So far, 200 startup teams have been formed with the accelerator’s support, leading to the development of 118 relatively successful firms.
    05/12/2018
    Since its inception three years ago, Innovation Acceleration Center (Technovation) based in the Pardis Technology Park has supported 200 startups, out of which 118 have matured into relatively...
  • Agriculture Minister Attends FAO Confab
    05/12/2018
    Iran’s Agriculture Minister Mahmoud Hojjati participated in the 34th Session of FAO Regional Conference for the Near East in the Food and Agriculture Organization of the United Nations headquarters...
  • CBI Underscores Support for Agricultural Sector
    05/12/2018
    Central Bank of Iran Vice Governor Akbar Komijani underscored the banking system’s contribution to the implementation of a national policy to promote domestic production by providing substantial...
  • CBI added that of the total foreign exchange allocations, $3.75 billion have been delivered by banks to the applicants.
    05/12/2018
    The Central Bank of Iran has announced allocating $6.6 billion to fulfill the country' foreign exchange needs between April 11 and May 8 at the unified rate of 42,000 rials.  CBI said in a...
  • This is not the first time Iranians have become the target of cryptojackers.
    05/12/2018
    Iran’s cybersecurity authority has cautioned computer users about a piece of cryptojacking malicious software which has gone viral in the country since April 1. Through its website, Iran’s...
  • German Economy Minister Peter Altmaier
    05/12/2018
    Germany is ready to help minimize the impact on its businesses of US President Donald Trump’s...
  • Banking Ties Unaffected by US Deal Exit
    05/12/2018
    Iran’s banking relations with the international community, excluding the US, will continue as usual following the United States’ May 8 withdrawal from the Joint Comprehensive Plan of Action (the...
  •  Shahid Rajaee Port is Iran’s biggest container port at the mouth of the Strait of Hormuz.
    05/12/2018
    Close to 6.55 million tons of oil and non-oil products were loaded and unloaded at Shahid Rajaee Port in the southern Hormozgan Province during the first month of the Iranian year (March 21-April...
  • Chabahar Port is the best entry point to connect three continents: Asia, Europe and Africa.
    05/12/2018
    US President Donald Trump on Tuesday pulled out from the Iran nuclear deal negotiated under his...
  • Impact of JCPOA Pullout on Housing Sector Uncertain
    05/12/2018
    Iran’s housing sector has been showing signs of exiting a deep recession that had undermined the country’s overall growth for more than five years, but US President Donald Trump’s pullout on May 8...

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