Economy

Sterling rose to a three-week high versus the rial on Saturday, on the British currency’s rally in the international markets coupled with a general retreat of the rial against major currencies.…

A senior central bank official said on Saturday that commercial banks should be provided with cash if they are to raise capital, rejecting an alternative solution that urges lenders to increase…

The Central Insurance of Iran (CII) or Bimeh Markazi has completed a new system known as ‘SANHAB’, through which the activities of all insurance companies can closely be monitored.

The new…

Bank Sepah has targeted “equal distribution” of its financial resources in a bid to help boost growth and development in country, the bank’s CEO said on Saturday.

“Bank Sepah is more…

A parliamentarian has blamed the limited financial resources and high interest rates on loans as two major problems nearly 80 percent of manufacturing units across Iran are struggling with.

Nearly 500,000 Iranian nationals are employed in engineering and technical sectors of Middle Eastern and Central Asian countries, deputy minister of cooperatives, labor and social welfare,…

Every year, 110 trillion rials ($3.9 billion at official exchange rate) worth of medicine are consumed domestically, 85 percent of which are covered by insurance, Ali Rabi’ee minister of…

Rail freight transport increased by nearly 8% this year, head of Islamic Republic of Iran Railways, Mohsen Pour Seyed Aghaie, said on Saturday.“This is an unprecedented record within the past ten…

Small and medium-sized enterprises (SMEs) are the backbone of the economy and create job opportunities for a major part of the labor pool, said an expert in the labor market, Alireza Heidari,…

The establishment of a free trade zone in the border city of Mehran in Ilam province is expected to benefit the regional and national economy and boost the level of exports to neighboring Iraq, an…

A business delegation headed by First Vice President, Es'haq Jahangiri will leave Tehran for Baghdad on Monday to discuss further expansion of bilateral trade ties.

The value of trade with China has reached $52 billion so far this year (to end March 20), recording a 30% increase compared with last year, Iran’s ambassador to Beijing, Ali Asghar Khaji, said on…

More than 100 trillion rials ($3.6 billion at official exchange rate) is required to complete the Mehr housing project, deputy minister of roads and urban development Ahmad Asghari Mehrabadi told…

Automotive companies have been clearing some of their long-standing debts to auto part suppliers, even though they have been complaining of being hit by recession and unable to recover their money…

According to a recent agreement reached between the IME and steel suppliers, the steel market is expected to reach equilibrium in terms of supply and demand; SENA quoted Hossein Panahian, SEO of…

Anguran mine in Zanjan province extracted nearly 17% more zinc and lead in the first ten months of the current Iranian year (to end March 20) than the similar period last year, based on a report…

The two key private associations in the iron ore and steel sectors formed a joint council, in a bid to address the steel industry issues and boost production in line with the country’s Vision Plan…

Tehran Stock Exchange (TSE)’s overall index snapped 3 days of losing streak at Saturday’s close, after Brent crude oil prices hit their highest level so far this year.

Major iron ore companies produced more than 21.32 million metric tons of iron ore concentrate during the first ten months of the current Iranian year (a period spanning from March 21, 2014 to…

Nearly 60% of shares of an ochre (red soil) mine on the southern Hormoz Island in Hormozgan province were offered to the island’s residents during a ceremony attended by provincial officials on…

Iran’s annual import of drugs and pharmaceutical products currently stands at nearly $1 billion, said the head of Iranian Pharmaceutical Importers Association, Nasser Riahi, ISNA reported.

Iran Financial Center (IFC) in collaboration with the Central Securities Depository of Iran (CSDI) will organize the first Mergers and Acquisitions (M&A) Conference on February 16 to enhance…

Stocks thrashed amid lingering fears over the outcome of nuclear talks, and the limping economy, with the Tehran Stock Exchange (TSE)’s benchmark tumbling more than 1.4 percent during the week…

An exhibition of Iranian products will be held in the Iraqi capital Baghdad, from February 16 to 19, IRNA reported.

Domestically manufactured home appliances meet 75 percent of local needs, said Habibollah Ansari, secretary general of the Home Appliance Association, as reported by ISNA on Friday. The official…