Economy

Central Bank Governor Valiollah Seif announced on Monday night that it is not feasible to implement the plan to unify foreign exchange rates.

Officials have been discussing in recent months…

The Asian Clearing Union (ACU) meeting was held at Central Bank of Iran’s (CBI) headquarters in Tehran on Tuesday, according to CBI’s public affairs office.

Present were CBI’s foreign…

Foreign exchange rates have a direct impact on a country's economy. Thus, central banks as the overlords of monetary policy have another lever to pull when pushing their agenda. The Central Bank…

Bank Maskan kept mortgage ceiling unchanged for the current fiscal year starting March 21. The traditional mortgage provider will keep the ceiling for loans at 350 million rials ($10,500 at market…

Close to 334,000 tons of non-oil products, valued at 3.3 trillion rials ($1.1 billion at the official exchange rate), were exported via the customs offices of Bandar Lengeh in the southern…

Export of non-oil commodities, including gas condensates, reached $50 billion over the past Iranian calendar year (ended March 20), recording a 19% increase compared to the preceding year,…

The latest statistics released by the CBI indicate that the average price of an apartment in Tehran stood at 40 million rials per square meter (about $1400 based on the official exchange rate)…

About 800 kilograms of caviar with the average price of 1,200 euros per kilogram, and a total value of $1.2 million, were exported during the past Iranian calendar year (ended march 20), deputy…

The energy ministry’s deputy head of planning and economic affairs confirmed that water shortage will continue to affect the country for the next 30 years, Eghtesad news reported on Monday.

Iran is willing to collaborate with United States to enhance its technologies in the agricultural sector after western sanctions are lifted, Isa Kalantari, the head of Agriculture House, announced…

InternationalBusiness Machines Corporation, or IBM has announced it is furthering its partnership with Apple to make use of health information gathered by Apple mobile devices Reuters reported on…

An estimated 957,000 American shoppers ordered, Apple's new smartwatch on Friday, with the number of watches sold on pre-order expected to leap beyond the million mark throughout the course of the…

Finland's Nokia Oyj, the remainder of the company after selling its mobile division off to Microsoft last year, is close to a deal to buy Alcatel-Lucent's mobile networks unit to boost its core…

Hangzhou-based Alibaba Group, China's largest business-to-business online store, said it has a range of measures to fight counterfeit items going through its site, Reuters reported on Tuesday.…

The Iranian Space Agency (ISA) has said it is determined to continue its projects of sending humans into space as well as sending a research satellite into space if the administration finances…

Mobile Telecommunications of Iran (MCI), known informally as Hamra-e-Aval, has announced its intention to hold its annual general meeting (AGM) on June 1. The large mobile line provider made the…

The industrial and mining trading floor of the Iran Mercantile Exchange (IME) played host to 69,200 tons of various steel sheets offered by Mobarakeh Steel Company on Monday trading, according to…

The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) says it will unveil a top-priority plan in the central town of Bafq in Yazd Province to extract and produce…

Inspecting industrial projects in the southern province of Fars, minister of industry, mine and trade, Mohammad Reza Nematzadeh anticipated that the domestic steel production chain will be…

The national Iranian Copper Industries Company (NICICO) is targeting to produce 400,000 metric tons of copper by 2019, Eghtesadnews reported. According to Ahmad Moradalizadeh, the NICICO general…

After a January 2014 visit to Iran, Martin Cerisola, the International Monetary Fund’s assistant director, said Iran “stands at a crossroad” and at risk of low growth unless it enacts “fundamental…

As changes in the value of foreign exchange rates could heavily affect foreign trade, the government needs to help stabilize the currency market and enhance the value of the rial which can act as…

Bank Melli has managed to reduce bad debts by 60 trillion rials in the past Iranian year, the managing director of the bank announced.

The newly-revived Management and Planning Organization plans to help provide low-cost loans (4-percent) to the cooperative sector. Accordingly, a plan is in place to provide 930 billion rials in…

Four new mutual funds received their permits from the Securities and Exchange Organization this month, according to Securities and Exchange News Agency (SENA).  One of the funds, which is…