Toxic debt on commercial banks’ balance sheets is on the rise despite efforts to contain them, says the man who set out to reduce them.
Non-performing loans (NPLs) have risen 2.5 times…
Economy
Economy
Iran’s mobile payment system may be in its early stages and not widely used, but the largest Iranian mobile phone provider is now putting its weight behind its latest side project.
Economy
A media outlet has criticized the unveiling of a new reverse for the 50,000-rial banknote on Monday, initiating a response by the central bank.
A new 50,000-rial banknote was unveiled on…
Economy
Europe’s highest court has thrown out a challenge by a Hamburg-based Iranian trade bank to its inclusion on the European Union’s sanctions list on Thursday, a victory for the EU after a number of…
Economy
Investment units of SEPAS Exchange Traded Fund (ETF) will be publicly offered on March seventh. The ETF will be open for purchase from 9:30 to 12:30 Tehran time, under the ticker symbol “Sepas 1”…
Economy
Parliament members on Tuesday approved a 8.449 trillion-rial ($304 billion at official exchange rate) budget bill for the upcoming Iranian calendar year, starting on March 21.
Economy
The private sector has invested $1 billion in Belarus, the majority of which have already begun generating returns, IRNA quoted Minister of Industry, Mine, and Trade, Mohammad-Reza Nematzadeh as…
Economy
The government has reduced the tariff imposed on wood imports to zero, in an attempt to supply the domestic market with sufficient quantity of the material, deputy minister of agriculture,…
Economy
Iran’s packaging industry is far from meeting international standards, despite progress in recent years, IRNA quoted CEO of the Iranian Small Industries and Industrial Parks Organization (ISIPO),…
Economy
Paying cash subsidies to people under the so-called ‘Subsidy Reform Plan’ could, from a mathematical point of view, reduce economic disparity. Yet, experts believe after its implementation, the…
Economy
The parliament on Tuesday decided to lower the cap for the total cash subsidies paid by the government to Iranian households from 42 trillion rials ($1.5 billion at official exchange rate)…
Economy
The Persian Gulf Special Economic Industrial and Mining Zone (PGSEZ) has attracted $9 billion in domestic and foreign investments over the past decade, Managing Director of PGSEZ, Masoud Hendian…
Economy
Following a parliamentary approval, the conditions for handing over unfinished development projects to state-owned banks have been made clear for the coming year (starting March 21), IRNA reported…
Economy
Central bank officials have expressed concern over the recent acceleration of commercial banks lending, saying it might lead to higher inflation. Economic experts, however, believe that the…
Economy
The private banks have fiercely slammed the new sample bank charter, recently issued by the Central Bank of Iran (CBI), suggesting private banks to sell 20 percent of their shares to the…
Economy
The official rate of the US dollar broke above 27,800 rials on Wednesday, bringing down its gap with the market rate to under 6,500 rials.
On Ferdowsi Street – the center of currency trade…
Economy
Sarmayeh Bank's shares opened for trading on Wednesday, after being closed for eight months, Bourspress reported. The bank is listed in Iran Farabourse over the counter market. Its trading was…
Economy
Technological advances in recent years have led to the growth of high-tech industries which have direct impact on the economy, particularly in developed countries. High-tech sectors and …
Economy
AAccording to official statistics released by Iran Customs Administration (IRICA), Iran’s iron ore exports have decreased substantially, reaching around 0.02 million metric tons in January from 1.…
Economy
As Tasnim News Agency reported on Wednesday, 1.09 million cars were manufactured in the country in 2014, recording a 46.7% growth compared to 2013. According to the latest report published by the…
Economy
More than 80,000 metric tons of different soft commodities were offered in Iran Mercantile Exchange on Tuesday, IME’s Public Relations and Foreign Affairs reported. According to the report, the…
Economy
In a meeting between the ministry of industry, mine, and trade and steel manufacturers, it was decided that 10-20 percent duty will be imposed on the import of steel products, in a bid to protect…
Economy
A report by the ministry of industry, mine and trade indicates that while the total number of permits issued by the ministry in the first ten months of the current Iranian year (to end March 20)…
Economy
Currently, there are 88,000 suspended industrial projects across the country, with progress ranging from 1 to 90 percent, IRNA quoted deputy minister of industry, mine, and trade, Mehdi Danesh-…
Economy
According to official statistics released by the ministry of industry, mine, and trade, 80 mine discovery certificates were issued during the 10th month of the current Iranian calendar year (…
Economy
