Economy

Finally Iran's financial industry is opening up to foreigners, as Iran moves to increase competition in the sector. The government is preparing a bill to allow foreign ownership of banks in Iran,…

Iran has one of the world’s most avid tea drinking population, but tea plantation has suffered greatly over the past years from an influx of imports and smuggled tea as well as lack of government…

Iran plans to buy a total of 80-90 airplanes a year from American planemaker Boeing and its France-based counterpart Airbus in the first phase of renovating its ageing air fleet once sanctions are…

The government officially announced on Monday that it will further reduce its heavy subsidy burden by removing two million people from the cash subsidy list before the month is out.

In a meeting with head of Iran Chamber of Commerce, Industries, Mines and Agriculture Mohsen Jalalpour, Thailand’s Ambassador to Iran Rasmee Chittham expressed his country’s willingness to…

Iran is planning to send commercial attachés to Italy, the United Arab Emirates, Algeria, Kenya, Vietnam, Oman, Iraqi Kurdistan and China’s Shanghai in the coming weeks, announced the managing…

More than 492,000 tons of non-oil goods were exported via Shahid Bahonar Port in the city of Bandar Abbas, Bushehr Province during the first four months of the current Iranian year (started March…

About 10,000 tons of Listao worth $20 million and 2,000 tons of Tilapia worth $8.5 million were imported from South Korea and China respectively in the first quarter of the current Iranian year (…

A new report released by the Parliament’s Industries and Mining Commission estimates the country’s annual steel production capacity at about 14.5 to 16 million tons from the previously assumed 20…

Earlier this month, the United States reached a historic nuclear agreement with Iran aimed at limiting Tehran’s nuclear program. The pact was welcomed in New Delhi, with one Indian official…

The Securities and Exchange Organization is planning to launch a new comprehensive database of all listed companies, known as CODAL system within the next three months.

The new system is…

About 100,000 tons of granulated iron ore were offered by Sangan Iron Ore Complex on Iran Mercantile Exchange’s export trading floor on Monday.

The export trading floor also played host to…

An aerial geophysical surveying project to explore mines in East Azarbaijan Province has been launched. Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh on Saturday attended the…

Prevailing ups and down at Tehran Stock Exchange on Monday, especially for large-cap stocks, curbed investors’ enthusiasm and led to lingering low trade volume and value at the equity market.

Sales of Fiat vehicles have officially begun in Iran for the first time. An Iranian company named Lotus International Development announced on their website that Fiat 500, Fiat 500 L, Doblo and…

Iran Khodro Company, Iran's largest auto manufacturer, has started the production of Haima S7. According to Eghtesad News, 40% of the Chinese SUV's parts will be produced locally. IKCO plans to…

The market for Iran-produced cars is changing rapidly in its northern Caspian Sea neighbor, Azerbaijan.

In a report published in Baku's Trend News Agency this week, auto experts from the…

Iran's Customs Administration has announced a 55% drop in car imports during the first four months of the current Iranian year (started March 21).

According to the latest statistics released by the central bank’s Office for Economic Policies on the housing market in Tehran, the number of home deals dropped by 25.1% and 16.5% over the month…

A report said the Central Bank of Iran plans to adopt a quantitative easing policy to get banks on track, but the bank itself has not yet released any details on the mechanism it may apply to…

Competition in the Iranian financial industry is rising. Financial institutions are battling over existing territory and opening new frontiers. Anyone who falls behind will be left in the dirt and…

Unlicensed bureaux de change are in hot water as countdown to their deadline—Aug. 19—to obtain a permit from the Central Bank of Iran approaches.

The uncertified bureaux de change had in…

After a seven-year hiatus, exports of pomegranates will resume as of late September, said the deputy manager of Fruit Exporters and Importers’ Union. “In the last seven years, pomegranate trees…

As Iran’s Civil Aviation Organization says it is planning to negotiate with Russia for the purchase of aircraft to upgrade the country’s ageing air fleet, the high number of Russian airplane…

In a meeting with the head of Iran Chamber of Commerce, Industries, Mines and Agriculture, Mohsen Jalalpour, the board of directors of the chambers of Germany, Italy, Switzerland, France and…