Economy

Lawmakers have passed a clause regarding Social Housing Plan, stressing that it will be launched in 2017.

Official statistics show the housing sector recently experienced a hike in prices but the increase has not been in line with inflation, which means that the sector is still in recession.

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Bank Melli Iran announced it can now transfer money overseas for individuals, as the bank expands its international ties in the post-sanctions era.

“The customers are now able to transfer…

The Central Bank of Iran’s monthly stats show the banking system’s total lending stood at 8.48 quadrillion rials ($215.5 billion at the market exchange rate) by November 20, with private banks and…

Billet sellers from Iran are still able to find a buyer in the Persian Gulf states amid uncompetitive prices from China. At the same time, Iran’s offer levels have been kept relatively stable over…

The railroads of Iran and Azerbaijan will be connected in a month, according to Minister of Communications and Information Technology Mahmoud Vaezi.

The two country’s rail networks will…

The Iranian Parliament has projected a new duty on steel imports, likely to be effective from September this year, according to the ICANA news agency, which is affiliated to the parliament.

The Iranian government is considering whether to impose a 10% export duty on unprocessed iron ore, so as to promote the sale of value-added raw materials and steel products.

The measure…

Tehran Stock Exchange’s main index rose 254.20 points or 0.32% to end Saturday trade at 78,876.2.

More than one million shares valued at $72.3 million changed hands for the day.

Iran…

Iran Air CEO Farhad Parvaresh said the carrier’s newly purchased Airbus A321 will be used on international routes within two months.

“Iran Air is planning to fly the plane to domestic…

Members of the Iranian Parliament approved on Saturday cigarette and tobacco tax rates, as part of the sixth five-year development plan (2016-21). Based on the new law, the tax rate on locally-…

Pakistan and Iran have agreed to boost mutual cooperation in air aviation and transportation by establishing direct flights.

The issue was raised in a meeting between Iran’s Ambassador to…

Over the past two decades, Airbus and Boeing have traded the crown in the annual orders race and it was usually clear who had bragging rights in the fiercely competitive $120 billion annual jet…

British Airways owes more than $13 million to Iran Airports Company, according to Iran’s Ministry of Roads and Urban Development.

Japanese carmaker Nissan said it will conduct its first European real-world trials of self-driving cars in London, choosing Britain just months after it said it would build two new models in the…

The government expects to earn 18.3 trillion rials ($460 million) in the next fiscal year through two automotive charges.

The proposed budget for March 2017-18 shows the amount will be…

French prosecutors are investigating Renault over suspected cheating on vehicle exhaust emissions, a source at the Paris prosecutor’s office told French journalists on January 13, sending shares…

New import regulations passed by the Cabinet indicate that vehicles no more than a year old can be imported into the country.

The new ruling that was passed last week was proposed by the…

Citroen-owned luxury sub-brand DS has imported the medium-sized DS4 Crossback for the Iranian market. According to local automotive news website, Asbe Bokhar, the new model is estimated to cost 1.…

The parliament has tasked the government with increasing the share of cooperatives in gross domestic product to 25% by the end of the sixth 5-year economic development plan (2016-21).

Iran Insurance Company, fully owned by the government, has insured Iran Air’s new Airbus jet that arrived in Tehran on Thursday.

Mohsen Pourkiani, IIC’s chief executive, said his firm has…

Lawmakers on Wednesday approved the formation of a fiqh council at the Central Bank of Iran to supervise banking operations’ compliance with Islamic law and usury-free banking law.

Lawmakers defined new responsibilities for the Central Bank of Iran and law enforcement, as they ratified more enhanced regulatory measures to counter the operations of uncertified financial…

In the first half of the current Iranian year 1395 (started March 20, 2016), the monetary base grew by 7.9% compared to the end of 1394 and by 20.4% compared with the same period of the previous…

Lawmakers voted on Thursday to allocate the government’s entire revenues from mining royalty and usufruct fees for the development of the infrastructure of large Iranian mines, expansion of…