Economy

Even though enough licenses have been issued for building new hotels in Tehran, there are surprisingly few constructions in the capital.  

The Central Bank of Iran Saturday issued a directive for clearing financial institutions’ non-performing loans as a move to ease lending to businesses.

Sarmad Insurance Company -- a subsidiary of Bank Saderat, secured Level 1 ratio of capital adequacy during the past fiscal year (ended March 20). According to the banker website, the Iran Central…

The Ministry of Roads and Urban Development on Saturday opened a major conference to showcase investment opportunities worth €25 billion ($28 billion) in Iran.  Key investment areas include…

Tehran Stock Exchange’s gauge registered a new record low on Saturday since September 18, 2013, which eroded confidence among investors and exacerbated selloffs at the equity market.

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Falling imports and exports in the first quarter of the current Iranian year (started March 21) have raised concerns, especially after the upward trend in Iran’s foreign trade over the past few…

What has enabled cement to lead the charts among Iran’s main exports and remain competitive in foreign markets is the government subsidization of energy for the sector.

As Iranian carmakers have failed to pay their debts to auto parts makers, some companies have had to lay off up to 50% of their workforce.

Renault's Indian subsidiary is considering exporting Kwid to Latin American and African markets, the company’s CEO and managing director, Sumit Sawhney, told Indian media this week.

An investigation into the emissions scandal at the car firm VW should not turn into a campaign against the industry, German Vice Chancellor Sigmar Gabriel said on Friday. An investigation into VW…

Brilliance Auto, the Chinese carmaker based in Tehran, has announced its latest prices for the Iranian market. The new presale prices, agreed with local partner Pars Khodro, remain stable. The…

As the government of President Hassan Rouhnai prepares to submit a long-awaited banking reform draft bill to the Majlis, lawmakers say they are committed to examine the proposal promptly, IRNA…

Economy Minister Ali Tayyebnia says the Money and Credit Council could cut interest rates at its Tuesday’s meeting. He said the council, an affiliate of the central bank, will also decide on…

The Export Development Exchange Company -- a subsidiary of the Export Development Bank of Iran, will launch two new branches, one at Imam-Khomeini International  Airport, and the other at…

The US Supreme Court on Thursday agreed to consider whether Iranian funds worth $1.75 billion must be turned over to families of the victims of the 1983 bombing of a US Marine Corps barracks in…

Efforts are underway to set up an electronic budget management system to promote monetary discipline and monitor government debts, the Economy Minister Ali Tayyebnia said.

The Iranian government’s tradition of printing money to cover fiscal gaps is coming to an end. It is signaling to the public and international investors that it is moving toward a modern financing…

The agreement reached between Iran and world powers in Vienna, Austria, in July over the country’s nuclear program and the prospective lifting of sanctions is reopening the Iranian economy to…

The government plans to purchase 500 short, middle and long-range passenger planes by 2025, Mehr News Agency quoted Minister of Roads and Urban Development Abbas Akhoundi as saying on Friday.

Ahead of lifting of sanctions against Tehran, India’s President Pranab Mukherjee has pressed for reviving the long talked about Iran-Pakistan-India (IPI) gas pipeline and using Chabahar Port to…

Iran’s first successfully cloned sheep was born on September 30, 2006, from an adult cell in a test tube. Nine years since that historic day, the country is making rapid progress in the field of…

London's transport chiefs announced plans on Wednesday to tighten control on private hire vehicles, a move that could hit app-based ride-hailing firms such as Uber.

It costs Apple an estimated $236 to make and assemble its new iPhone 6s Plus, roughly one-third the $749 retail price of the smartphone, according to a teardown analysis by IHS Technology.

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Iran's Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh has stressed the importance of bolstering cooperation, instead of competition, between neighboring and Muslim countries.

The Customs Bureau of Markazi Province earned more than $84 million in revenue via import and exports of goods during the first six months of the current Iranian year (started March 21),…