Economy

The banking reform draft bill which is pending debate in the Majlis requires banks to offer risk-adjusted returns on investment fund deposits, rather than a fixed rate, a new report shows.…

Ending the dual exchange rate regime is a professed priority of the Central Bank of Iran. Ever since the landmark nuclear deal was sealed between Iran and the six world powers, the CBI has often…

European companies are flocking to Iran apparently without their favored lenders at their side. This has added a complicating factor for manufacturers from Airbus Group SE to PSA Group, the maker…

Bank Sarmayeh is planning to expand investment in the sports arena after its affiliated team won Iran’s Volleyball Super League championship title in March. Mohammad Reza Khani, the bank’s CEO,…

Bank Pasargad Iran and South Korea’s Woori Bank agreed to expand correspondent relations to help improve commercial relations between the two countries. BPI and Woori Bank also agreed to start…

West European car sales rose 8% in April, although the sales momentum has slowed, auto industry data provided by LMC Automotive showed on Friday. Monthly car sales rose to 1.21 million vehicles,…

Iran's Industrial Development and Renovation Organization and Germany's Technical Inspection Association (TUV) have signed a memorandum of understanding for checking the quality of Iran-made cars…

Iran Khodro Company has showcased its latest achievements in car production in the third solo exhibition of Iran in Kabul, Afghanistan.

Fiat Chrysler Automobiles next-generation Ram pickup truck will go on sale by January 2018, Chief Executive Officer Sergio Marchionne said on Friday.

 "We will be in market by January…

Skoda said its new large SUV will be called Kodiaq after a bear that lives on an island off Alaska.

Bank Pasargad Iran is seeking to launch a branch or a subsidiary in Switzerland, said the bank’s chief executive, Majid Qassemi on Thursday.

“Switzerland is one of the countries we have set…

The Central Bank of Iran has finally agreed with the long-pending real estate leasing scheme which was proposed by the National Association of Leasing Companies. The scheme will be legally-binding…

The Insurance industry’s loss ratio stood at 63.8% during the fiscal year that ended on March 19, marking a year-on-year increase of about 5%.

In a move to ease trade relations with Iran, the Central Bank of Turkey has issued instructions for banking transactions to be conducted in local currencies. Chairman of the Istanbul Chamber…

The central banks of India and Iran have reached an arrangement to use European banks to process pending oil payments to Tehran, India's Oil Minister Dharmendra Pradhan told Reuters, unlocking $6.…

Siemens revised upwards its valuation of its backlog of orders from Iran on Wednesday, citing resurgent business prospects in the country following the easing of international sanctions.

German multinational engineering and electronics company Robert Bosch GmbH will resume its business in Iran under the brand name of “Bosch Tejarat Pars” private joint stock.  

The…

Compared to most oil-rich countries in the Middle East, Iran has a diversified economy, such that its tourism sector is on the verge of a major windfall.

Iran’s Refah Chain Stores Company and Korea Agro-Fisheries and Food Trade Corporation have signed a memorandum of understanding for cooperation.

Iran is in talks with Moody’s Investors Service and Fitch Ratings about restarting sovereign credit ratings for the oil-rich state, Iran's Economy Minister Ali Tayyebnia said.

Iranian stocks remained in slumber while the dollar sank to a six-week low against the rial due to rising oil prices during the past week. This is while Azadi gold coin got knocked off its highest…

Iranian Aluminum Company (Iralco) signed an investment agreement worth $2 billion with China Railway Group Limited in Tehran on Wednesday. “The project will be carried out in the second plant of…

Tehran and Minsk agreed over an economic cooperation roadmap for 2016-17 on Wednesday during the 13th session of Iran-Belarus Economic Commission. Iranian Minister of Industries, Mining and Trade…

Lebanon’s Industry Minister Hussein Hajj Hassan said he is planning to visit Iran soon together with a delegation of industrialists, bankers and investors to discuss ways of enhancing cooperation…

Iran has started the cultivation of wheat and oilseeds in Kazakhstan as part of its agro outsourcing program, said the deputy agricultural minister.  Abbas Keshavar added that Ukraine, Russia…