The director of the National Development Fund of Iran (NDFI) rejected recent reports that the government has illegally withdrawn around $4.1 billion from the fund’s account.
Economy
The job market has not much benefited from the loans granted by commercial banks, Minister of Cooperatives, Labor and Social Welfare Ali Rabiee said.
Minister of Roads and Urban Development, Abbas Akhoundi, has urged the private sector to play a more active role in the development of ports, saying that despite some financial restrictions the…
The government has more than 75,000 unfinished infrastructure projects in hand, completion of which would require around 4,170 trillion rial ($154 billion at official exchange rate) in investment…
Since the discovery of the first oil well in Masjid Suleiman in 1908, Iran has produced over 100 billion barrels of crude oil. In the meantime, although efforts to develop and industrialize the…
The ministry of agriculture has banned setting up of new poultry units across the country. Hassan Rokni, a deputy minister, argues that the government prefers to help improve the quality of the…
The small industrial units shut down over the past few years due to economic hardships will resume activity, Mohammad Ail Seyed Abrishami, the CEO of the Iranian Small Industries and Industrial…
The government is planning to handle oil price fluctuations by managing the allocation of financial resources, Government Spokesman Mohammad Bagher Nobakht said in a news conference after Tuesday’…
The high interest rate currently offered by the commercial banks will in the long-term have a negative impact on the economic activities in the country, Hassan Taei, the deputy minister of…
The new chairman of the Securities and Exchange Organization (SEO) says he will throw his support behind stock market traders and activists in a bid to reinvigorate the first market.
Week’s last trading day saw various agricultural commodities listed on the board, including soybean meal, corn, sugar, and cubic sugar for being traded on the agricultural floor at the Iran…
Recent studies by the ministry of roads and urban development has revealed that housing price fluctuations in the past 17 months has been of a descending order. In fact, since its last climax of…
The Tehran Stock Exchange’s benchmark recorded a fresh record low within the past 14 months at Wednesday’s close, amid brittle economic state that has underscored the persistent shaky sentiment of…
More than 51,000 tons of aluminum ingots have been exported by Almahdi Hormozgan Aluminum Company since the beginning of the Iranian calendar year (March 21, 2014), IRIB reported on Wednesday.
Iran’s burgeoning startup scene took another step forward this week, with the 11th iteration of its business meet-ups. The event on Tuesday was held at Tehran University’s Technology campus in…
Iran is known by many as the new frontier in tech startups. The country is filled with unexplored possibilities and despite all the economic problems some tech savvy entrepreneurs are building…
The managing directors of Kish and Qeshm free trade zone organizations have signed a joint cooperation agreement with the Iranian National Standard Organization (INSO), IRNA reported.
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Bank Keshavarzi has opened a center of excellence for the financial empowerment of women, Banker reported. The center is affiliated to the Asia-Pacific Rural and Agricultural Credit Association (…
The minimum rate set for the dollar in the next year's budget might be subject to change, said Central Bank Governor Valiollah Seif on Tuesday.
The government set the rate of the dollar at…
The government is able to run the economy despite the sharp drop in oil prices and the West’s economic sanctions.
“Despite the oil price fall in the international markets, 220,000…
A conference entitled “Entrepreneurship in Iran and Commercialization of Products in Iraq” was held in Tehran on Monday, ISNA reported on Tuesday.
The conference was organized by Iran-Iraq…
The need for developing new trade ties in the fields of banking and investment was underlined in a joint meeting between the head of Iran’s Trade Promotion Organization (TPO) and the director of…
Minister of Agriculture Mahmoud Hojati says his ministry is ready to help Iranian companies to easily export their products to Russia. He made the comment in a meeting with the Iranian ambassador…
No decision has yet been made to increase utility prices for the upcoming year (to begin March 21, 2015), IRNA reported Tuesday citing Energy Minister Hamid Chitchian.
Based on the Subsidy…
Some economists in Tehran believe that the government should rely more on taxes rather than oil sales as a source of revenue, amid falling oil prices in international markets.
President…
