Economy

A housing official has ruled out any immediate impact of the ongoing rally in the foreign exchange market on home prices but says that in the medium term, a weaker rial would make the housing…

Data released by the Central Bank of Iran indicate that the number of electronic payment instruments have been continuously on the rise in the past few years.

The regulator has disclosed…

Bank Mellat has now made facial recognition available as an option for unlocking its mobile banking app to become the first bank to offer this capability in the Iranian banking system.

Iran intends to establish a joint bank to promote trade ties with Latin America by repurposing its only bi-national bank with that of another country from the region, the chief executive of…

About 805,000 tons of goods were transited into the country from Bazargan border crossing in West Azarbaijan Province (northwestern Iran bordering Turkey) during the first 10 months of the…

Close to 314,000 tons of chocolate and pastry worth about $440 million were exported from Iran during the first eight months of the current fiscal year (March 21-Nov. 21, 2017), registering a 92…

Iran’s exports to its top trading partner China in 2017 witnessed a 25.2% rise compared to 2016 to reach $18.58 billion, an official with the Trade Promotion Organization of Iran said.

The Ninth International Exhibition of Bitumen, Asphalt, Insulation and Related Machinery, also known as BAIEX 2018, is slated for Feb. 12-26 at Tehran’s International Permanent Fairground, the…

Any rise in the prices of goods and services supplied by guilds is banned until April 20, which marks the end of Iranian month of Farvardin. The announcement was made by the head of Iran Chamber…

The Iranian Cabinet set the fiscal yearend (March 20) bonuses for full-time public sector employees, including civil servants, members of the judiciary and armed forces as well as pensioners, at…

Tehran Stock Exchange was the world’s third fastest-growing bourse, according to a study carried out by TSE analysts who monitored the benchmarks of 17 global exchanges from March 21, 2017, to…

The Agricultural Support Services Company affiliated with the Ministry of Agriculture has so far supplied around 1.9 million tons of nitrogen, phosphate and potassium fertilizers to farmers in…

Lawmakers have decided to extend the pilot plan for enforcing the value added tax for the next fiscal year (starting March 21). In doing so, they have complied with the government’s proposed…

Around 28,500 and 31,500 tons of wheat were exported to Oman and Italy respectively from Khuzestan Province during the first 10 months of the current Iranian year (March 21, 2017-Jan. 20, 2018…

The overall Producer Price Index for the services sector (using 2011 as the base year) stood at 247.1 in the third quarter of the current Iranian year (Sept. 23-Dec. 21, 2017), indicating a 3.7…

Monthly payments of cash subsidies will remain in place during the next fiscal year (March 2018-19) until a formula is devised to remove high-income earners from the list of recipients, the…

Ferrari, the Italian luxury sports car maker, delighted investors with its prediction that profits will double by 2022 as it reported earnings for 2017 way ahead of its current plan.

Nissan Motor Co plans to invest 60 billion yuan ($9.5 billion) in China over the next five years with its joint-venture partner as it seeks to become a top three automaker in the world’s biggest…

Pars Khodro, a subsidiary of SAIPA, has announced an increase in the price of Brilliance models with upgraded engines.

Three models, namely H320, H330 and C3, have been upgraded and will…

The Ministry of Industries has sent an amended version of auto import rules to the Cabinet that proposes newly-imposed higher import tariffs on hybrid cars be cut and be based on the vehicles’…

Former governor of the Central Bank of Iran, Tahmasb Mazaheri, lays the blame for the first-ever rejection of the general outlines of the country’s budget by parliamentarians on hereditary…

The rial continued to drop to record lows against the US dollar on Sunday, ending a short spell of stability that held for only a few days after the government assured the public that volatility…

The Central Bank of Iran has backtracked on its directive that was supposed to be implemented from Sunday and aimed at boosting information safety in the banking system by making end-to-end…

Bahar Azadi gold coin gained 0.63% on Sunday ahead of a presale by the Central Bank of Iran scheduled on Tuesday. The benchmark coin fetched 15.19 million rials ($320), staying above its…

Iran’s payment settlement network Shaparak processed more than 1.443 billion transactions worth 1.50 quadrillion rials ($32.02 billion) in the ninth month of the current fiscal year to Dec. 21,…