Economy

The Ministry of Industries, Mining and Trade issued 498 mineral exploration and 527 mineral production permits during the eight months to November 20. The figures show a 5.6% and 8.7% growth…

Close to 90% of the 40 bitumen mines in the city of Gilan-e Gharb in Kermanshah Province have gone out of business, a local official said. “Bitumen prices declined alongside oil and now stand at…

The National Iranian Productivity Organization has signed a memorandum of understanding with Korea Productivity Center to improve productivity through cooperation between Iranian and…

Over 4.3 million tons of goods worth $1.42 billion were exported from Kermanshah during the nine months to November 20, a provincial customs official said. “The exported commodities mainly…

Foxconn, a Taiwan tech-giant, plans to build an $8.8 billion factory in China, state media said on December 31, amid reports its billionaire boss is cooling off on future US investments.

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Private Internet service provider Shatel has hit back at the Telecommunications Company of Iran (TCI) after the state firm barred the ISP’s new Voice Over Internet Protocol (VOIP) service from…

The fourth edition of Iran Web Festival has started accepting applications from exhibitors. Those owning a website, a web-based software or mobile phone application in the country can take part.…

An Iranian knowledge-based company has manufactured a device for tracking eye movement, a process widely used in medicine, psychology and business.

The company, staffed by young…

Bank Maskan, the agent bank of the housing sector and the country’s main mortgage lender, announced a whopping year-on-year increase in the value of mortgages in the first three quarters of the…

The unification of Iran's dual foreign exchange regime and the decline in the exchange rate of major currencies were among the most important topics discussed at Saturday's meeting between top…

Noor Credit Institution is planning to increase its capital from the current 3 trillion rials ($7.5 million) to 6 trillion rials ($15 million) and become a bank, said the credit institution’s…

There is not much buying or selling happening in the UAE’s hot rolled coil market due to the uncertain situation and fluctuating prices. Besides, demand is weak at the end of the year and…

The steel industry is one of the most strategic sectors of the Iranian economy, as it accounts for the bulk of the mining sector’s exports and revenue and is at the same time vital for the…

Iran, since the lifting of economic sanctions earlier this year, has become an increasingly attractive market for South Korean heavy industry businesses, especially the construction and…

In spite of the Iranian government’s policy to halt exports of raw materials, customs statistics show a sharp increase in iron ore exports in the first nine months of the Iranian year (to December…

A 10-kilometer railroad connecting Iran’s northwestern city of Astara to an Azeri city with the same name will become operational in three months, according to Abbas Nazari, an official with the…

The revival of Silk Road is a perfect opportunity for the development of Iranian economy, the president of Iran’s Chamber of Commerce, Industries, Mines and Agriculture said.

The Islamic Revolution Mostazafan Foundation accounts for 1.5% of Iran’s gross domestic product, says the head of the foundation.

Out of 43 auto importing firms in Iran, only ten have been registered as official representations of the brands they sell. The Ministry of Industries, Mining and Trade had set a deadline demanding…

Personal auto policy and health insurance accounted for 65% of insurers’ premium income during the eight months to November 20.

The Central Bank of Iran has announced that it will hand a list of people who traded large amounts of foreign exchange in recent weeks to Iran National Tax Administration for further investigation…

The end of the current Iranian year in March will bring about an end to currency fluctuations plaguing the market, as increased supply helps moderate the market, predicts the director of the…

The Malaysian Palm Oil Council will hold Malaysia-Iran Palm Oil Trade Fair and Seminar during February 7-8, 2017, in Tehran. Malaysian Minister of Plantation Industries and Commodities Mah Siew…

Kyrgyzstan attaches special importance to the development of economic relations with Iran.

Kyrgyz Economy Minister Arzybek Kojoshev made the above statement at the Kyrgyz-Iranian Business…

About $1.4 billion worth of goods were exported from production units located in Iran’s industrial parks during the nine months to December 21, Deputy Minister of Industries, Mining and Trade Ali…