Economy

State-owned commercial banks will raise capital in order to increase lending to the private sector, MPs decided. The money will come from state budget. The lenders are obligated to lend triple…

The ministry of communications and information technology is reportedly planning to launch 5G services in the next six months, while mobile operators have only recently been authorized by the…

The deputy minister of industry, mine, and trade says the government is planning to end the allocation of official exchange rate currency for importing coking coal with the aim of protecting the…

The government’s earning from mine royalties will remain unchanged in next year’s budget, said parliament member Iraj Nadimi. The parliament’s integration committee has recently agreed to lower…

The Tehran Stock Exchange’s main index (TEDPIX) posted tiny gains in the week that ended January 28. Despite the unremitting retreat at the equity market within the past few months, with the…

Several giant companies and key players in the steel industry attended the 5th International Steel Market Conference held on January 27-28 in Tehran.

I ron ore has been among the hardest hit industrial commodities, with global prices falling more than a quarter this year and Iran’s export of the raw material in 2014 reaching its lowest in…

More than 56 hectares of land is currently under saffron cultivation in the western province of Kermanshah, which shows a notable growth compared to two years ago when merely 6 hectares of land…

Plastic production reduced six percent during the first nine months of the current Iranian calendar year (March 21- December 21, 2014), due to lack of raw materials, Nasrollah Reza-Zadeh, the head…

The Iranian Apparel Exhibition will be held on February 1-4, to coincide with the Turkish Textile and Garment Fair in Tehran, Valliolah afkhamirad, the deputy minister of industries, mines, and…

An Iranian trade delegation, led by head of Tehran’s Chamber of Commerce, Industry, Mines and Agriculture Yahya Al-Es’haq, which had traveled to Spain on Monday to take part in an economic…

In a meeting between Azerbaijani President Ilham Aliyev and Iran’s Minister of Economy and Financial Affairs Ali Tayebnia in Baku, President Aliyev underlined the importance of the so-called North…

Over-regulation in the textile industry and unfair competition between Iranian and Turkish companies have led to a drop in textile production, Alimardan Sheibani – vice president of textile…

Central banks of Iran and Azerbaijan plan to expand financial ties. Iran’s Economy Minister Ali Tayebnia met with the governor of Azerbaijan Central Bank Elman Rustamov in Baku. Both officials…

Banks are traditionally considered as a place of confidence and their whole business revolves around it. You expect your bank to take good care of your money and while taking reasonable risk, you…

Iran’s economic freedom score is 41.8, making its economy the 171st freest in the 2015 Index.

The Central Bank of Iran (CBI) holds 770 trillion rials ($28 billion at official exchange rate) of commercial lenders’ assets as reserve requirement.

Caviar production in Iran has not yet reached the objectives set by authorities in previous years.

In February 2013 Iran’s Fisheries Organization Director Gholamreza Razeqi stated total…

Lower oil prices will have a negative effect on Iran’s economic and financial systems in the next Iranian year, Business Monitor International predicts.

A new online startup based in Tehran aims to tackle office inefficiency and communications with their new online platform. The new online platform called Taskulu attempts to tackle inefficiency in…

Commercial banks in Iran invest 18 percent of their net profit on IT services each year, while the global figure is about 35 percent, an expert said, warning that Iranian bankers must keep abreast…

The Money and Credit Council met this week to discuss the optimal provision of capital to commercial banks in hard cash.

During the meeting, it was approved that for increasing capital in…

The government has received a hefty payment in rials tantamount to 1.2 billion dollars from the Central Bank of Iran (CBI) with the permission of the Special Solutions Committee, during the…

The world of banking and financial services is starting to hear a new term. Fintech, short for financial technology, is the crossing of tech startups into financial services territory. The term…

The ongoing construction slump due to the prevailing recession in the housing sector has led to a remarkable decrease in demand for cement; ISNA quoted Abdol-Reza Sheikhan, secretary of cement…