Economy

A senior advisor to the minister of roads and urban development said unauthorized financial institutions should follow the rules or face closure.

Gholamreza Salami suggested that illegal…

The growing trend of banks’ debt to the Central Bank of Iran over the last couple of years is widely believed to be a major setback for the banking system.

According to banks’ financial…

Minister of Economy Ali Tayyebnia is in China to sign the constitution for the Asian Infrastructure Investment Bank on June 29.

Venezuela has signed an agreement with Iran for a $500 million credit line to fund joint investments and help improve supplies of goods “necessary for the Venezuelan people,” President Nicolas…

Shahr Bank has become the first Iranian bank to deploy a virtual teller machine (VTM). The new facility provides six services to customers, marking the first move by an Iranian bank toward a…

Jaguar Land Rover will never make a driverless car, R&D boss Wolfgang Epple said.

“We don’t consider customers cargo. We don’t want to build a robot that delivers the cargo from A-to-B…

The share of six largest companies importing to Iran comprises just 0.8% of the entire car industry of the country. The new statistics published by ISNA this week suggest the less than 1% figure…

Takata CEO Shigehisa Takada earned less than 100 million yen ($810,373) in the business year ended in March, or less than half of the 206 million yen ($1.67 million) he took home in the previous…

Based on the recent preliminary report released by the Central Bank of Iran, the economy expanded by 3 percent in the Iranian year ending March 2015. The year before that saw the economy contract…

By 30 June, Iran must have come to an agreement with world powers over its nuclear program in return for a lifting of economic sanctions.

Currently, key sectors, including energy and…

Mushroom cultivation has gained attention in recent years among small-scale growers due to its relatively short crop cycle and low investment.

A multipurpose port will be established is Suza, Qeshm Island, with a 700-million-euro budget fully funded by foreign investors, said Farzin Haqdel, financial and investment deputy of Qeshm Free…

After a long series of bumpy rides at Tehran Stock Exchange, the benchmark has been on the rebound for two weeks. The TEDPIX gained 2.04 percent in the week that ended June 24 compared to the…

Trade volume and value at Iran Fara Bourse in the week that ended June 24 saw an unprecedented growth compared to the prior week, with the Base Market leading the hike by 1,926 and 2,600 percent…

Chilean grapes, French apples, Chinese pears, Egyptian oranges, Turkish peaches, just name it! Fruit stores are awash with colorful, expensive foreign fruits which snub their humble Iranian…

The currency swap agreement with Turkey has entered into force, an official in Iran-Turkey  Commercial Council told ISNA on Friday.  “Commercial transactions between the two neighboring…

B ank Saderat said it has nothing to do with the defunct Mizan Credit Institution and its liabilities in a statement on Thursday.

Mashhad-based institution Mizan was closed down by the…

One ailing aspect of the Iranian economy has been the unhealthy growth of the money supply, which is largely blamed for the runaway inflation in recent years.

As the June 30 deadline for a nuclear deal between Iran and the six world powers—the US, Britain, France, Russia, China and Germany—draws ever nearer, the prospect  of a final  accord is…

The past couple of years have seen the housing market go through a downswing, mainly as a result of macroeconomic uncertainties that pushed capital investors out of the market and rendered the…

Three Iranian dairy companies have won the approval of Russia’s veterinary office to export their products to Russia, announced the secretary of Association of Food Industries. Cheese imports…

The removal of western sanctions against Iran (imposed over the country’s nuclear energy program) is expected to improve relations between Tehran and Mexico City, says the Mexican ambassador to…

An official at the Land Affairs Organization of Iran – a government organization affiliated to the Ministry of Agricultural Jihad – says mapping will be carried out on 10 million hectares of…

On a two-day visit to Lorestan Province to consider opportunities and capacities of the western province in terms of food products, pharmaceuticals and construction materials, Swedish Ambassador…

At a meeting in the Netherlands, Iranian Deputy Minister of Agriculture Jihad Khalil Aqaei-Moqaddam, and Sharon Dijksma, Dutch secretary of the Ministry of Economic Affairs, dealing with…