Economy

Bank Maskan, the special housing lender, paid a total 95.4 trillion rials ($3.15 billion) in loans during the eleven months ending February 19, indicating a year-on-year growth of 21%, said…

Iran and Turkey are planning to establish a joint bank, said Mahmoud Vaezi, minister of communications and information technology, who also is President Hassan Rouhani’s special envoy for Turkey…

The majority of Iranian banks are now connected to Swift, the international interbank messaging network, and more than 300 correspondent relations have been established with international banks,…

In a meeting with Sarmayeh Bank officials, Azerbaijan’s Zamin Bank presented its services including bank cards, in an attempt to enter ther Iranian market.

Central Bank of Iran and the National Bank of Kazakhstan signed an agreement on Monday, during President Nursultan Nazarbayev’s visit to Tehran, to expand banking relations. The agreement will…

Tehran Stock Exchange’s all-share index TEDPIX inched down 18.30 points or 0.02% to settle Monday trade at 80,262.4. Petrochemical, steel and auto manufacturing companies weighed most on the…

Visitors to Tehran marvel at the strength of Tehran’s infrastructure: from spaghetti junctions that rival LA, to an extensive and expanding underground metro system, as well as German-inspired…

Producers of glass and crystals in Iran believe the field is open to investment and new blood.

Bonab Steel Industry Complex, which was nearly driven out of business in the last Iranian year (ended March 19), has recently found new vigor following the signing of a cooperation agreement with…

The “Post-Sanctions Iran Commercial Aviation Spare Parts and Maintenance Congress 2016” is scheduled for May 24-25 in Istanbul, Turkey. The event will bring together foreign players active in…

An initiative is being discussed in the Iranian Parliament, based on which the prices of imported, joint venture and domestically produced cigarettes are to be increased by 19%, 12% and 40%…

The government’s wheat purchases from local farmers in the current Iranian year (started March 20) is expected to rise by 25% compared with last year to reach 10 million tons, says deputy…

The Fourth International Exhibition of Rail Transport, Related Industries and Services is to be held in Tehran during May 15-18, in which more than 300 local and some 100 foreign companies will…

After the removal of western sanctions against Iran over its nuclear program on January 16, 64 foreign delegations and investment companies have visited the port of Chabahar in Iran’s southeastern…

The parliament gave the government the go-ahead to issue more bonds this year to fund ministries.

Currently, the parliament is reviewing the government’s budget for the 1395 fiscal year (…

Persian rugs are often prized works of art in homes, their roots stemming to Iran where, for hundreds of years, they’ve been handmade by weavers and dyed with natural ingredients.

Iran Khodro Company and France's Peugeot will officially launch their joint venture in late April.

Iran's Deputy Minister of Industries, Mining and Trade Mohsen Salehinia touched upon the…

The latest data collected from 1,750 units of traffic counters on Iranian highways show that the average hourly traffic on the roads grew by 0.8% this year during the Iranian New Year holidays (…

Volkswagen CEO Matthias Mueller will push for a significant reduction in bonuses for the carmaker's management board on Monday, sources familiar with the matter said.

The Chinese-derived Dongfeng H30 is believed to be coming out of Iran Khodro's assembly line in the next few days. According to a new report from Donyaye Khodro, the compact crossover vehicle is…

Foreign companies that set up factories in Iran and export at least 20% of their products will be exempt from paying half of their corporate taxes for five years, says a deputy head of Trade…

Now it is the most opportune time for the unification of foreign exchange rates – a measure crucial for improving the struggling economy and moving forward, a former official of the central bank…

Bank of Italy has issued operation license for Bank Sepah's branch in Rome, Muhammad Kazem Choghazardi, the bank's CEO said on Sunday.

The Islamic Republic of Iran Customs Administration has launched the country’s first e-wallet system which is connected to smart cards.

Businesses expect the Central Bank of Iran to refrain from interfering in the foreign exchange market and let the market decide the rates, said Masoud Khansari, head of Tehran Chamber of Commerce…