Economy

Lawmakers set the agenda for the housing sector over the next five years in their latest open session on Monday as part of policies set in the sixth five-year development plan (2016-21).  …

The Central Bank of Iran has outlined an innovative, flexible and strong future for the banking system in its “2021 Roadmap”, the bank's deputy for innovative technologies said.

The agriculture sector now accounts for 12% to 13% of Iran’s gross domestic product, up from 9% to 10% three years ago (when President Hassan Rouhani first took office in August 2013), according…

The preferential tariff agreement between Iran and Turkey has given rise to the export of cheap Chinese apparel from Turkey to Iran under the guise of Turkish brands, the head of Tehran Knitwear…

Iran produces 94% of all the saffron in the world, yet it accounts for only 60% of the global saffron trade.

“About 34% of the saffron cultivated in Iran are labeled and sold by other…

Value-added tax collection during the nine months to November 20 increased 35% compared with last year’s corresponding period, according to the deputy head of Iran National Tax Administration,…

Tehran and other metropolitan regions in Iran get bogged down in heavy traffic jams every day. Commuting has become a nightmare, at times taking hours to drive a short distance.

Rail transport took center-stage in Monday’s parliamentary session.

MPs approved a bill to allocate 1% of oil revenues to the rail sector as part of the sixth five-year development plan (…

The operations of cement factories have been disrupted by continuous gas outages every winter, according to the head of Cement Employers Association. “This has been going on for the past two years…

GAZ Group, a Russian automotive conglomerate, has signed a memorandum of understanding (MoU) with the municipalities of four Iranian cities for the delivery of 900 buses to renovate public…

French car sales rose 5.8% in December, according to industry data published on December 1, closing a second consecutive year of strong growth in Europe’s third-biggest auto market. Registrations…

The price of imported cars has shot up due to the increase in foreign currency rates in the past four weeks as the rial took a new drubbing.

Iran’s deputy minister of industries told…

The Central Bank of Iran has issued a foreign exchange directive that curbs the activities of bureaux de change and increases banks' role in forex trading, the CBI governor announced.

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Bank Sepah has opened a $1 billion credit line for a gas refinery project, as the first tranche of a $2.2 billion syndicated loan, said Bank Sepah’s chief executive.

Lawmakers in an open session on Sunday ratified new articles related to the sixth five-year development plan (2016-21), obligating the government and the Central Bank of Iran to take initiatives…

The Central Bank of Iran will launch the interbank foreign exchange market to prevent fluctuations in foreign exchange, CBI’s governor announced on Sunday. Valiollah Seif added that the interbank…

Tehran Stock Exchange’s main index shed 590.60 points or 0.74% to end Sunday trade at 78,896.

The support level refers to the price level, below which, historically, a stock or an index has…

One hundred forty-eight parliamentarians approved last week a motion to hand over all Iranian free trade zones to the Ministry of Economic Affairs and Finance.

The measure was added by the…

The government is unwilling to pull down the inflation further.

Economy Minister Ali Tayyebnia said the government has reached “the stiff core of the inflation” and that “it has become…

Over $25 billion will be raised in the capital market from Salaf contracts and capital increase by the end of the current Iranian year (March 20), the head of Securities and Exchange Organization…

Irish farmers have called on their government to reopen the Irish Embassy in Iran, which was closed in 2011.

The Ministry of Industries, Mining and Trade issued 498 mineral exploration and 527 mineral production permits during the eight months to November 20. The figures show a 5.6% and 8.7% growth…

Close to 90% of the 40 bitumen mines in the city of Gilan-e Gharb in Kermanshah Province have gone out of business, a local official said. “Bitumen prices declined alongside oil and now stand at…

The National Iranian Productivity Organization has signed a memorandum of understanding with Korea Productivity Center to improve productivity through cooperation between Iranian and…

Over 4.3 million tons of goods worth $1.42 billion were exported from Kermanshah during the nine months to November 20, a provincial customs official said. “The exported commodities mainly…