Economy

President Hassan Rouhani has called for a national movement to opt for domestic products instead of foreign brands.

For more than 35 years, western sanctions against Iran's aviation industry have forbidden the world's major aviation manufacturing companies to do business with Iran. However now, commercial…

It was hard to assume that private businesses in Iran would one day  deliberate on pumping money into the Syrian market, a market of roughly 23 million people that is all but cut off from the…

All the cigarettes sold in the Iranian market under the brand Marlboro are smuggled as there is yet no official permission issued for the import of this brand, said deputy minister of industries,…

As it was predicted earlier the preferential tariff agreement (PTA) deal between Tehran and Ankara, which came into force in January, is working more to the benefit of Turkey than Iran. Turkey’s…

More than 5 trillion rials ($178.5 million based on official exchange rate) worth of goods was exported from Aras Free Zone (AFZ) during the past Iranian year (ended March 20), recording an…

The Iran Mercantile Exchange’s export trading floor listed the offering of about 32,300 tons of bitumen, 22,000 tons of vacuum bottoms, 3,000 tons of lube-cut oil, and 1,600 tons of sulfur on…

The minister of industry, mine and trade has described the auto, home appliance, steel, cement and food sectors as the country's leading industries.

Iran and Guinea have moved to reactivate a bauxite mining project in the West African country, after a 23-year delay.

Innovations in the window and door sectors have resulted in a surge towards the use of UPVC (unplasticized polyvinyl chloride) in the construction industry, which is rapidly replacing the…

Stocks massively underperformed at Tehran Stock Exchange on Saturday trade, dragging down the overall index to keep wiping out the gains it made earlier this year (started March 21) after a…

The central bank deputy governor for foreign exchange affairs announced on Sunday that several bilateral currency swap agreements have been signed between Iran and Turkey, Iraq and Russia, aiming…

A Karafarin Bank Stakeholder failed to liquidate his stake on Thursday.

The stakeholder, Hamed Hakimi, wanted to sell one percent of Karafarin’s shares but failed to secure a single buyer,…

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…

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.