Chinese telecom equipment maker ZTE Corp will set up a 1.2-billion-yuan ($180.38 million) fund to invest in private technology, media and communication startups, and diversify its business.
Economy
The US dollar on Wednesday surged to a 3-month high against the rial and was sold for 35,380 rials in Tehran’s open market. The American currency gained 0.94% from the previous day’s close of 35,…
Pakistan’s Federal Minister for Commerce Khurram Dastgir Khan has directed the representatives of the country’s banks to give viable proposals within a month for facilitating banking transactions…
The Money and Credit Council–the highest monetary decision-making body – voted Tuesday to lower lending rates by two percentage points. The decision comes after private banks decided earlier this…
In response to ambiguities concerning the status of Iran in the Financial Action Task Force (FATF), the general manager of the anti-money-laundering division of the Central Bank of Iran said…
Money and Credit Council–a decision-making body– has increased the minimum capital needed for the establishment of banks in free trade zones from €25 million to €150 million. The MMC also…
The Central Bank of Iran has prohibited banks and credit institutions from depositing money into accounts of other lenders or financial institutions outside the interbank market.
Iran’s first iron ore beneficiation plant will become operational by the end of September, says managing director of Jalalabad Iron Ore Complex. The plant, with an annual production capacity of…
Over 400 million tons of iron ore, 500 million tons of coal and 90 tons of gold deposits have been discovered since the government of President Hassan Rouhani took office in 2013.
Tehran Stock Exchange’s main index wiped 250.20 points or 0.34% to close Wednesday trade at 73,940.3.
More than 1.4 billion shares valued at $77.1 million were traded for the day.
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Iranian chromite miners are going through a tough time. High extraction costs, depressed domestic demand and global prices as well as unrestrained imports of the mineral have brought many of the…
Iran is home to the Middle East’s largest fire clay mines with refractory minerals unmatched in quality worldwide.
The country’s fire clay production sector, however, has so far been unable…
Iran exported 13,000 tons of chicken eggs during the first three months of the current Iranian year (March 20-June 20), which indicates a 46% drop compared to last year’s corresponding period, the…
More than 7,000 tons of olive oil are smuggled into Iran every year, according to the National Olive Council.
Iranian ports handled more than 36.6 million tons of freight during the first three months of the current Iranian year (March 20-June 20, 2016), which indicates a 15.1% increase compared with the…
Shanghai Cooperation Organization once again refused to initiate Iran’s accession in a summit held in the Uzbek capital Tashkent last week.
Iran applied for full membership in SCO in 2008,…
Iran finds neighboring Iraq its closest ally in the Arab world as well as a big market for its domestically produced goods, including fresh milk and antibiotics.
Once bitter enemies, non-…
Iran and Russia are scheduled to jointly hold a trade exhibition in Yerevan Expo Center in Armenia on October 26-28.
Following an internal review, the Chinese-derived SAIPA's Ario sedan has been announced as the new entrant to join the capital's taxi fleet.
Iran Khodro’s CEO Hashem Yekezare in a follow-up announcement concerning IKCO’s plans to team up with Japanese automaker Suzuki said that in addition to Swift, Celerio and Ciaz, another model,…
Toyota is recalling 1.43 million vehicles globally for defective airbags, although it is not part of the massive recalls of Takata airbags, the Japanese automaker said on Wednesday.
Toyota…
Azim Khodro brokerage group, renowned in Iran for its national auto sales network, has purchased a 70% share of Zagros Khodro, as part of a deal to revive the southern-based auto producer's…
The Majlis Research Center says in a new report that the housing sector is not capable of acting as a driving force for the economy, saying that the apparent weakening purchasing power and large…
A senior member of the Central Bank of Iran’s Fiqh Council says the disclosure of deposits’ performance as part of the new financial statements by banks is not only an advantage but a necessity…
German and Austrian banks have opened $1 million -10 million in credit lines for Iranian business, said Asadollah Asgaroladi, a board member of the Iran Chamber of Commerce, Industries, Mining and…
