Economy

The Central Bank of Iran has detailed the first phase of the banking overhaul plan and identified the strengthening of its supervisory and monetary policymaking role among the main goals of the…

The Central Insurance company of Iran is planning to gradually separate the life insurance sector from non-life policy in a bid to improve efficiency and the services it offers.  

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Following the recent rally in gold prices, Bank Melli Iran decided to auction a portion of its bullion that includes a limited edition of Bahar Azadi coins as part of an effort to shed excess…

Iran exported $32.7 million worth of goods to Vietnam during the first two months of the current Iranian year (March 20-May 20, 2015).  Imports stood at $2.4 million during the same period,…

Iranians annually purchase 15 million mobile phones, 60-70% of which demand are met by smuggled products, said the deputy head of Tehran Chamber of Guilds. Ebrahim Dorosti also blamed the high…

More than 106,400 tons of goods were exported from the port city of Bandar Lengeh in southern Hormozgan Province during the first three months of the current Iranian year (March 20-June 20, 2016…

Iran has joined the International Chamber of Commerce’s Certificate of Origin Accreditation Chain, leading to better coordination with other chambers of commerce across the world.

A politico-economic delegation from Chile headed by the country’s Foreign Minister Heraldo Munoz will visit Iran in September, according to Iran’s Chamber of Commerce, Industries, Mines and…

Given the new measures taken by Iran's carmakers in the area of research and development, local auto manufacturers will be able to export a third of their products by the end of the 20-Year…

South Korea's automobile exports fell more than 13% in the first six months of the year, weighed down by falling demand from emerging markets, data showed on July 10.

South Korean carmakers…

Mohammad Reza Motamed, Iran Khodro Company's vice president for engineering, has been appointed as the director of the IKCO-Peugeot joint venture known as IKAP. Hashem Yekezare, IKCO's CEO,…

Mohammad Reza Shahbakhsh, CEO of Kerman Motors Industrial Holding Group has appointed Saman Firouzi as CEO of Kerman Motors on June 9.

Kerman Motor and its many subsidiaries manufacture…

The government has purchased more than six million tons of wheat from local farmers since the beginning of the harvest season in late March, indicating a 13% increase compared to last year's…

Couples seeking housing loans in the form of housing bonds, will be eligible irrespective of the date of their marriage, Bank Maskan announced Sunday. Furthermore, all couples – not just the ones…

Bank of Industry and Mine has financed 560 small and medium-sized industrial plans with 12 trillion rials ($389 million), the bank’s CEO, Ali Ashraf Afkhami, said Sunday in a meeting with Minister…

International banking constraints looming over Iran’s economy will persist until the US presidential election in November, a prominent energy analyst said at the weekend.

The 9th International Exhibition of Exchange, Bank & Insurance opened in Tehran on Sunday with government officials and public sector and private bank CEOs in attendance. The three-day event –…

President Hassan Rouhani said Sunday the banking overhaul plan will be implemented before the fiscal year is out in March 2017, calling it “the most important financial and monetary package for…

Date production and exports are expected to rise in the current Iranian year (March 2016-17). According to the Agriculture Ministry, the output is estimated to increase by 100,000 tons from last…

Deputy Transport Minister Ali Nourzad says 1,500 kilometers of under-construction roads across the country will be completed by the end of the current Iranian year (March 20, 2017).  “…

The Food and Drug Administration of Iran has banned the import of Chinese dental equipment as well as autoclaves (dental sterilization units). The measure has been taken in support of domestic…

About 17-20% of Iran’s total exports head for Iraq, according to Iran’s commercial attaché in the neighboring country. “Iran’s exports to Iraq are three times as much as its exports to Europe,…

The import tariff on mobile phones has been reduced from last year’s 7% to 5% in the current Iranian year (March 2016-17), says the deputy head of the Association of Audiovisual Equipment…

The Iranian National Tax Administration has taken a new step toward trusting taxpayers and changing its operational procedures in line with the adoption of new Direct Tax Code, which aims to boost…

Iran bought 60,000 tons of Brazilian raw sugar last week in one of the first purchases this year after sanctions were lifted in January with further imports expected in coming months.