Banks lent 1.86 quadrillion rials ($61.38 billion at the official exchange rate) in the first seven months of the fiscal year (ends March 19, 2016), marking an increase of 5% or 88.6…
Economy
Economy
Heads of transportation departments of the five Caspian littoral states clinched an agreement in Tehran on Wednesday to expand multilateral cooperation in key areas including maritime transport…
Economy
The domestic steel industry is now self-sufficient in the production of steel pipes and has completely indigenized the technology required for its manufacture, announced Aziz Qanavati, managing…
Economy
Close to 2.7 million tons of steel were imported during the eight months ending November 21, says the head of Iranian Mines and Mining Industries Development and Renovation Organization. Mehdi…
Economy
The 66% plunge in oil since June 2014 poses a tremendous challenge to the Iranian economy.
The government’s main source of revenue has shrunk to a third of the level it had been for years.…
Economy
Iran Mercantile Exchange’s export trading board witnessed the supply of 12,000 tons of aluminum oxide for the first time by Iran Alumina Company at the base price of $299 per ton on Wednesday.
Economy
Chadormalu Industrial and Mining Company must pay an aggregated $565 million in mining royalties and usufruct to the government for the 2013-16 period, says managing director of the company.
Economy
The agriculture sector makes up 20% of Iran’s non-oil exports, 15% of GDP and 20% of employment, said the deputy head of Agricultural Research, Training and Promotion Organization. Gholamhossein…
Economy
Iran is planning to build two million housing units in Algeria by 2019, says an official with Trade Promotion Organization of Iran.
Economy
Economic cooperation with Iran’s East Azarbaijan Province is on top of Azerbaijan Republic’s agenda, said the visiting Azeri Minister of Economic Development Shahin Mustafayev during the second…
Economy
The goods and services Consumer Price Index for urban areas increased by 12.6% in the 12-month period ending December 21, which marks the end of the Iranian month of Azar, compared with last year’…
Economy
Iran Chamber of Commerce, Industries, Mines and Agriculture has established an investment consulting center to act as a bridge between Iranian companies and foreign investors, in preparation for…
Economy
Scotland’s former first minister, Alex Salmond, led a fact-finding mission to Tehran this week to open a dialogue between Scotland and Iran and boost economic and cultural links between the two…
Economy
As Russia is looking for new markets amid the prospects of sanctions removal, dozens of companies from the state-backed Russian Railways and other high-profile companies displayed their products…
Economy
A total of 50 Turkish food, furniture and seafood exporters met their Iranian counterparts as well as Iranian officials to discuss fresh opportunities of cooperation in the new climate of Iran.…
Economy
Porsche workers have agreed to concessions worth several hundred million euros to secure production of an all-electric sports car at the manufacturer's biggest plant, a company spokesman said.…
Economy
Russia's automotive sector is likely to be one of the main beneficiaries of the nuclear deal reached by Iran and the West come January, as it has initiated moves to develop a market for its…
Economy
Google and Ford Motor Company are in talks about forming a partnership to develop autonomous car technology, a person briefed on the matter said on Tuesday.
Economy
A total of 165,000 clunkers have been taken off the streets up to now, Iran’s Transportation and Fuel Management Headquarters announced.
In the last Iranian fiscal year (ended March 20,…
Economy
Iran's second largest vehicle manufacturer, SAIPA, has announced a plan that will allow owners of SAIPA cars to swap their secondhand cars and clunkers with newer models, said the company's sales…
Economy
Uber on Tuesday announced a partnership with a major Chinese automaker, as the controversial ride-sharing service revved up efforts in the country.
Uber and Guangzhou Automobile Group will…
Economy
With China making repeated attempts to wean away India from Chabahar Port upgrade, New Delhi is rushing through a $150-million credit line for Iran and is fast-tracking bilateral negotiations to…
Economy
The Export Guarantee Fund of Iran and Kaz Export Garant have signed a MoU on the sidelines of the 6th annual meeting of the Union of Islamic Credit Insurers in Muscat, EFGI said in a press release…
Economy
Iran’s gold export market could be revived after the economic sanctions are removed, the head of Gold and Jewelry Producers and Exporters Union said.
Economy
Iran and Azerbaijan have signed agreements to start a correspondent banking relationship by the end of next month, Minister of Communication and IT, Mahmoud Vaezi said on Tuesday. He added that…
Economy
