Bank of Industry and Mine is negotiating a $3 billion credit line with a consortium of six European banks, said the bank’s CEO Ali Ashraf Afkhami on Tuesday.
“The credit line will be used…
Economy
Banks have lent six trillion rials ($167.3 million) to 7,500 small and medium sized factories so far this year, according to Mohammadreza Nematzadeh, the minister of industries, mines and trade.…
The number of Iranian traders using railroad for exports to Turkmenistan has been on the rise following the neighboring country’s recent decision to increase tariffs on Iranian transit trucks, CEO…
Senior advisor to the president and Secretary of the High Council of Free Zones, Akbar Torkan attended the opening ceremony of Iran-Afghanistan Joint Exhibition in Kabul on Tuesday. More than 75…
Exports to Oman is expected to double in this fiscal year compared to last year’s $375 million, Iran’s commercial attaché to the neighboring country, Abbas Abdolkhani said. The current…
Deputy Energy Minister Rahim Meydani says Iran must put an end to policies that promote water-intensive yet low-value agricultural products because “the country’s development won’t occur through…
Iran’s Small Industries and Industrial Parks Organization and the German state of Baden-Württemberg signed a 5-year memorandum of understanding to share technology and exchange trade delegations…
The Iranian Privatization Organization is selling 14 trillion rials ($390.4 million) in government property in thei current Iranian month to September 21. The assets on sale include an 80% stake…
Iran has an ambitious target to become the world’s 6th largest steel producer by raising crude steel production capacity to 55 million tons per year, as part of the goals envisioned in the 20-Year…
Tehran Stock Exchange’s main index gained 147.40 points or 0.19% to end Tuesday trade at 76,669.6.
More than 1.5 billion shares valued at $82.6 million changed hands for the day.
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Iran’s High Council of Cyberspace has ruled that 50% of the funds allocated for the establishment and expansion of National Information Network (Iran’s homegrown and internalized network) must go…
A new website, Rahbal.ir, has been launched recently to enable travelers to book cheap package holidays and flights, making it the latest offering in a burgeoning industry. Customers can search…
Deutsche Telekom is considering options, including thousands of job cuts at its German business, a review of its holdings in Eastern Europe and Greece, and a partial sale of its subsidiary T-…
Samsung has recalled its new Galaxy Note 7 smartphones in Iran after reports it can overheat and even explode spread around the world.
Although the phone has not been officially launched in…
Internet service providers have been obliged to expand bandwidth and improve service quality, according to a new diktat by the Communications Regulatory Authority of Iran.
Local production of industrial valves used in primary industries including petroleum is one of the significant achievements of the country that was realized thanks to Joint Comprehensive Plan of…
The Taiwan-based payment company Castles, specializing in payment tools, has started a semi knocked-down production line in Iran’s Arvand Free Trade Zone, in cooperation with Bank Pasargad’s…
Iranian banks can only provide (or choose not to provide) clients with banking services based on the laws and regulations of the country, but are not allowed to cite any form of international…
The insurance industry’s total generated premiums amounted to 76.1 trillion rials ($2.4 billion at market exchange rate) in the four months that ended July 20, marking a year-on-year growth of 20…
The German state of Bavaria has authorized three Iranian lenders to open branches in Munich, announced its State Minister of Economic Affairs and Media Ilse Aigner at a press conference in Tehran…
The pistachio trees in a village in southern Iran are long dead, bleached white by the sun - the underground water reserves sucked dry by decades of over-farming and waste, reads an AFP report.…
Deputy minister of cooperatives, labor and social welfare Hamid Kalantari says non-oil goods worth more than $1.7 billion were exported by the cooperative sector during the past fiscal year (March…
The Islamic Republic of Iran Customs Administration and the Ministry of Defense have signed an agreement for the ministry to provide the customs with new domestically-made cargo scanning equipment…
The consul general of Turkey in Tabriz Çağlar Fahri Çakıralp says 166 Turkish companies have invested over $1 billion in Iran.
Iran’s non-oil exports to Russia during the first four months of the current fiscal year (March 20-July 21) stood at 89,800 tons worth $59 million, registering a 2% decline in value compared to…
