Economy

BMW is overhauling its research and development activities to focus on self-driving cars, board member Klaus Froehlich said.

The move includes a revamp of its “i” sub-brand of carbon-fiber…

Turkish passenger car and light commercial vehicle sales rose 15.16% year-on-year to 93,904 vehicles in May.

The organization said sales in the first five months of the year rose 0.3% to…

Japan’s transport ministry raided small-car maker Suzuki’s headquarters Friday in the wake of its shock admission that it used improper fuel-testing methods for years, affecting millions of cars…

Production of Brilliance H3 sedan has kicked off in China. The East Asian partner assembler of BMW launched its new large sedan previously known as F20 to the Chinese auto market this week. The…

Iran’s five specialized banks have an aggregate capital of 98 trillion rials ($3.6 billion), or 22% of the total capital of banks.

Ali Ashraf Afkhami, CEO of the Bank of Industry and Mine,…

The Joint Comprehensive Plan of Action (Iran’s nuclear deal with the six world powers) has had a “tangible” effect on Tehran’s international banking relations as it helped remove curbs on domestic…

The housing market has been grappling with a stubborn recession for at least three years and although housing officials and some market analysts hope for some recovery in the coming months, few if…

Iran and Turkey have reached an agreement based on which the Central Bank of Turkey will upgrade banking relations between the two countries to pre-sanctions levels, a sign of normalizing banking…

The United States must do more to assure international banks that they can do business with Iran, Iran’s Foreign Minister Mohammad Javad Zarif said on Tuesday. “It seems that there is a…

Trade Promotion Organization of Iran has urged all Iranian exporters to Iraq to ensure they have obtained their certificates of origin, as the Iraqi government has banned any import of goods…

Cooperative businesses exported $1.75 billion worth of their products in the last Iranian year (March 2015-16), said the deputy labor minister.

Hamid Kalantari added that the figure is…

Lack of proper employment is the main reason for the immigration of Iran’s highly educated population, an official with Iran’s National Elite Foundation said.

“There is a high brain drain…

Saffron worth $15 million were exported from Iran during the first month of the current Iranian year (started March 20), registering a 10% surge compared with the similar period of a year before.…

Bilateral trade with Turkey reached $2.9 billion during the first four months of 2016, posting a 17% decline compared with the similar period of a year before, Turkish Statistical Institute’s data…

Non-oil exports from Shahid Rajaie Port in the southern province of Hormozgan reached 5.6 million tons in the first two months of the current Iranian year (started March 20), registering a 95%…

Iran has signed new memorandum of understandings with three international export credit agencies. The country’s own ECA, the Export Guarantee Fund of Iran, has signed agreements with the Indian…

The Civil Servants Pension Organization is restructuring its holdings and looking for investment in foreign markets to keep up with its rising pension payments.

The organization is in…

Iran has unveiled a new Beechcraft King Air 350i aircraft used for flight inspection.

Poor packaging and transportation infrastructure has caused problems for Iran’s fruit and vegetable exports to Russia, according to Alireza Pourbasir, an official with the Agricultural Jihad…

TEDPIX, Tehran Stock Exchange’s primary index, inched down 60 points or 0.08% to close Wednesday trade at 76,084.2.

Losses incurred by oil and gas companies, banks and shipping firms were…

Over 7 billion square meters of concrete are produced worldwide every year, making this construction material the most abundant and mass-produced manmade material of all time, says Saeedreza Zare…

Volkswagen Group's profit rose 3.4% in the first quarter of 2016, although profit at the core VW brand plunged 86%, highlighting the challenge the carmaker faces in emerging from the nearly nine-…

The first consignment of Ario taxis will be delivered soon to Isfahan's Taxi Organization.

About 150 units have been loaded and are ready for delivery, local automotive website Asre Khodro…

Nearly 50% of the Iranian auto parts manufacturing units have been shut down because contrabands have flooded the market, said the secretary of Iranian Auto Parts Manufacturers Association.

GM Uzbekistan, formerly UzDaewooAuto, started the production of third-generation Nexia cars, Uzbek Association of Automotive Industry Enterprises (Uzavtoprom) said. The new model is produced on…