Last week’s decision by the Money and Credit Council is now affecting the ‘sight deposits’ which used to enjoy, in some banks or financial institutions, attractive rates of 22-24%, though the…
Economy
The Central Bank of Iran officially lowered sterling's exchange rate versus the rial on Sunday, to keep pace with international developments in foreign exchange markets.
The Central Bank of Bahrain (CBB) placed two Iranian financial institutions into administration as of April 30, according to Bahrain’s media. No explanation, however, has been provided for the…
Although the removal of western sanctions can open new vistas for Iran to engage with the international community, one should not expect that all the problems the economy has been grappling with…
Iran has signed cooperation agreements with Iraqi Kurdistan on various areas including agriculture and construction, IRNA quoted Ali Eghbalpour, deputy consul general of Iran in the Iraqi city of…
Nomads account for 25 percent of the country’s overall red meat production, deputy head of Nomadic Affairs Organization, Mir-Vali Safarzadeh, announced on Saturday, as reported by ISNA.
The government is planning to import 2 million metric tons of wheat during the current Iranian calendar year (started March 21) in a bid to avert possible shortage of wheat in the domestic market…
Head of western Ilam province’s Chamber of Commerce, Industries, Mine and Agriculture on Sunday spoke of a fivefold increase in transit fees imposed by Iraqi customs authorities on the Iranian…
The 15th Caspian Sea littoral states’ chambers of commerce summit was held in the port city of Anzali in northern Gilan Province April 29-30. According to IRNA, heads of chambers of commerce,…
Iran welcomes the idea of setting up a joint chamber of commerce with Singapore, which can help traders exchange information on the economic capacities of both sides, chairman of the Iranian…
At an event hosted by Bank Tejarat, a book on nonperforming loans (NPLs) in the banking system was unveiled this week. Asghar Pourmatin a co-author of the book said they have sought the best…
The Money and Credit Council (MCC) has urged the Central Bank of Iran to take tighter supervision measures against banks and financial institutions violating deposit rate regulations.
The Royal Bank of Scotland is reported to have reached a settlement with its Iranian customers who charged the giant high street bank of discriminating against them based on their race.
The…
As the Turkish lira continues to lose value against the US dollar, experts are weighing the potential consequences of such a fall for the Iranian economy given the large bilateral trade between…
After the Money and Credit Council finalized a decision on deposit rates in a meeting held on April 28, it also announced approvals on the reserve requirement rate, among other issues.
Food exports are set to increase to $3 billion in the current Iranian calendar year (started March 21), according to the director general of health ministry’s food, medicine and health office.…
Tea plant harvest has officially started, head of Iran’s Northern Tea Farmers’ Union, Iraj Mousemi, announced as reported by ISNA. The official noted that out of 32,000 hectares of tea farms in…
Head of the Association of Iranian Confectionery Manufacturing Companies, Jamshid Maghazeie warned against irregular import of chewing gum, adding that chewing gum worth about 15 trillion rials ($…
Monthly producer price inflation decreased by 2.4 percent in the Iranian month of Farvardin (March 21-April 20), bringing the rate into single digit territory for the first time in years,…
The Iraqi government’s decision to triple import duties has given rise to concerns among manufacturers and traders, arguing that the decision will lead to reduced competitiveness compared with…
A trade surplus of $760 million was recorded in the first month of the Iranian calendar year (March 21-April 20) according to data released by the Islamic Republic of Iran Customs Administration (…
Iran and the Czech Republic have agreed on a tax treaty according to which businesses and traders from both countries will be exempt from double taxation mechanism, IRNA reported.
The…
South Korea is planning to expand its service trade with Iran in May in an effort to restore bilateral commercial ties; Eghtesad News reported, citing Seoul-based news agency Yonhap. …
Despite last month’s agreement between Iran and the West, which lays out the framework for a possible final nuclear deal in June, the Tehran Stock Exchange has not fared well. The TSE’s…
After an eight-year hiatus, the construction of the first phase of South Aluminum Company (SALCO) was launched in the southern Fars Province. The company has the annual capacity of producing 300,…
