Economy

The government pays 60 trillion rials ($1.58 billion) in wheat subsidies annually.

It paid 12,705 rials (around 34 cents) to local farmers for each kilogram of common wheat and 13,068 rials…

Iran imported 72,000 tons of tires worth $244 million this year (March 2016-17), registering a 9% decrease in terms of weight compared to last year, the chairman of Tire Industry Association of…

Isfahan Province exported 2.6 million tons of goods worth around $1.1 billion during the 11 months of the current Iranian year (started March 20, 2016), Isfahan Customs Administration’s Director…

The Iranian Parliament on Sunday passed Iran’s general budget for the upcoming new year (March 2017-18).  The lawmakers put the figure at 3.98 quadrillion rials ($104.6 billion).

The…

Mobile World Congress 2017 began in Barcelona on February 27 with dozens of new smartphones vying for media attention. LG, Sony, Huawei, and other companies will use the big event as a showcase…

Local messaging applications created by private firms which have been successful in attracting Iranian users will receive incentives from the Presidential Office for Science and Technology.

Iran’s ICT Startup Empowerment and Facilitation Center (ISEFC) is to open more than 20 startup incubators throughout the country in the next fiscal year that starts in mid-March.

ISEFC is a…

Iran’s Communication Regulatory Authority (CRA) has issued an official notice to the country’s largest mobile operator over the declining MCI call quality due to a poor rollout of 4G services.…

The total debt of insurance companies to pharmacies has reached 40 trillion rials ($1.05 billion), 97% of which are held by private drugstores and the rest is owed to public-sector entities, said…

Banks and credit institutions have been ordered not to extend any kind of banking services to businesses that have not presented their balance sheets, announced the head of Majlis Economic…

When foreign exchange rates are unified, setting a fixed rate for it will be meaningless since foreign exchange rates, like any other commodity, are determined by supply and demand, a member of…

The rial was 37,800 to the dollar on Saturday, marking a 0.08% gain against the US currency compared with the previous day’s close, according to Tehran Gold and Jewelry Union's website. 

For International Financial Reporting Standards to truly take hold in Iran, they must be accorded significance on the national scale, the governor of the Central Bank of Iran said.

The government has purchased around 20,000 tons of oranges from Egypt, which will enter the country in the coming days, Deputy Agriculture Minister Ali Akbar Mehrfard said on Saturday. Stressing…

Iran’s non-oil trade during the 11 months of the current Iranian year (started March 20, 2016) amounted to $76.9 billion, indicating a 1.8% increase compared with the…

Rail networks of Iran and Afghanistan will be connected by March 2018 as part of the Khwaf-Herat route, according to an official with the Islamic Republic of Iran Railways.

Lawmakers in the Iranian Parliament approved on Saturday income tax exemption for civil servants who earn less than 20 million rials (about $530) a month. The decision was part of the parliament’s…

Russian Deputy Prime Minister Igor Shuvalov visited Iran last week to discuss a trade agreement between Moscow and Tehran.

During talks with Iranian Minister of Communications and…

CRRC Changchun Railway Vehicles Company will supply 100 subway cars for Metro Line 2 in Mashhad, the second-biggest city in Iran in May, the company told China Daily on Thursday.

The Central Securities Depository of Iran issued 12 new trading codes to foreign investors during the Iranian month of Bahman (ended February 18), bringing the total number of foreign investors in…

The Ministry of Economy has been given the go-ahead to sell up to 145 trillion rials ($3.8 billion) worth of short-term bonds, as parliament speaker, Ali Larijani, has criticized the sheer volume…

Thailand has secured a deal to sell rice to Iran for the first time in 10 years, with delivery of 50,000-100,000 tons of white rice due over the next 1-2 months.

Demand for imported hot rolled coils in Iran remained sluggish, as buyers still preferred locally-produced material, which is available at more attractive prices vis-a-vis the import duty. …

Tehran Stock Exchange’s main index gained 16.30 points or 0.02% to end Saturday trade at 77,863.5.

About 619 million shares valued at $37 million changed hands for the day.

Khazar…

Volkswagen Group’s provisions for its diesel-cheating scandal increased by 6.4 billion euros ($6.8 billion) last year, as the automaker continued to tally the damages from the worst business…