Economy

Development projects worth $5 billion in the steel sector are ready and awaiting funds from the Iranian and foreign investors, Mehdi Karbasian, head of the Iranian Mines and Mining Industries…

The construction of an aluminum factory has officially started in the southwestern city of Masjed Soleyman, in a ceremony attended by local officials including the governor of Khuzestan province,…

Iran is planning to build cement factories in Libya and Iraq, ISNA quoted the minister of industry, mine, and trade as saying on Wednesday. The ministry added that the country is highly capable…

Stocks edged up at Wednesday close with the benchmark notching up 0.02 percent, following a seesaw trading day at the Tehran Stock Exchange (TSE) as investors lined up over upbeat news about…

Domestic steel producers still suffer from the declining prices especially those of reinforcing bars (rebars), reported Fooladnews on Wednesday. The declining prices of rebars are much worse than…

The government has allocated 23 trillion rials ($850 million at official exchange rates) in the next year’s budget bill to settle the debts it holds to the Social Security Organization (SSO), the…

Bank Saderat has announced it will now offer special services for people who work in the medical sector, Banker news reported.

The new offer primarily aimed at doctors and nurses across the…

State-owned commercial lenders will raise capital to increase lending to the private sector, lawmakers decided on Wednesday. The parliament ratified a bill to raise the capital of the banks by 100…

Private lender Sina issued its latest financial statements on Thursday. The financial statements include Sina Bank’s balance sheet, income statement, statement of cash flows of previous periods…

I magine that Iran and the P5+1 – the US, Britain, France, Russia, China and Germany – have come to an agreement on Tehran’s nuclear energy program.

Offering lower premiums on third party insurance schemes have recently disrupted the insurance market. Compulsory third party motor vehicle insurance is the main insurance product in Iran’s…

Under an approval by the Money and Credit Council (MCC), the customers of banks who manage to pay their foreign currency debts in six months time will be offered a 30% discount, an MCC member…

Following the collapse of negotiations between the Iranian ministry of road and urban development and the Turkish government, Energy Minister Mahmud Va’ezi left Tehran for Ankara on Tauesday in…

High tariff rates as well as bans imposed on the import of certain commodities are the root cause of smuggling in the country, Mojtaba Khosrowtaj, deputy minister of industry, mine and trade, said…

The money supply was growing at an extreme pace and the rate of economic growth was falling, but despite these concerning economic facts, banks (both public and private) were still forced by…

The administration is planning to support the export of domestically produced dates, Mahmud Hojjati, the minister of agricultural Jihad said in Bushehr on Wednesday. About one million tons of…

Iranians chew 5 trillion rials ($147 million at market exchange rate) worth of gum every year, 83 percent of which is imported. This makes Iran the world’s largest consumer of chewing gum, IRNA…

The southern port city of Bandar Lengeh earned 2.42 trillion rials ($89.6 million at official exchange rate) in the first nine months of the current Iranian calendar year (March 21-Decenber 21),…

Iran International Feed Expo 2015 opens in Tehran Thursday, ministry of agricultural Jihad reported. According to IRNA, domestic and foreign unions, cooperatives, and producers of livestock,…

Customers are apparently more satisfied with services offered by car importers and those in the assembly business compared to major automakers, a recent report by the Iran Standard and Quality…

Close to 57 grades of various polymers from local petrochemical complexes were offered on the oil and petrochemical trading floor of Iran Mercantile Exchange on Tuesday, IME’s public relations and…

The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) said the Mouteh Gold Complex produced 216 kilograms of gold during the first 9 months of the current…

The deputy head of Geological Survey of Iran (GSI) in mineral affairs says inappropriate extraction of coal by the private sector negatively affect the mining industry, reported Eghtesadnews on…

The Iranian Mining Engineering Organization held a one-day international conference on processing minerals, underground mining, and tunnels on Tuesday, which was attended by experts from Germany,…

The head of the Parliamentary Committee on Mines, Dariush Esmaeili has called for the removal of tax exemption on export of raw minerals in a bid to boost domestic production.

“The…