Economy

Minister of Industry, Mine and Trade Mohammad-Reza Nematzadeh has welcomed investments by Iranian expatriates in domestic industries, saying: “The manufacturing sectors can forge partnership with…

More than $17 billion worth of various goods, including home appliances, cosmetics, mobile phones and cigarettes, are smuggled into the country every year, head of the Central Taskforce to Combat…

Trade between Iran and Turkey stood slightly above $3.5 billion during the four months since a preferential trade agreement (PTA) came into effect in January 2015, which indicates a 17% decline…

A delegation from Slovakia left Iran on Saturday after a weeklong visit aimed at scoping out possible opportunities to develop bilateral trade ties in different areas, including glass design and…

BMW is recalling 420,661 US vehicles due to issues involving Takata airbags, US auto safety regulators said, Reuters reported.

BMW of North America said it is recalling 20 models from 2002…

Toyota Motor kept its title as the most valuable car brand in 2015 despite recent airbag recalls denting its worth, Auto News Europe reports, citing a new study.

BMW remained No. 2,…

The CEO of Saipa, Iran's second largest carmaker, has been replaced after three years, IRNA reported on Friday. Saeed Madani was replaced by Mehdi Jamali during a ceremony in Tehran. Madani's…

Years have passed since leasing firms gained their foothold in Iran. Statistics show that around 600 leasing companies are operating in Iran, but only 32 are under central bank’s supervision.…

Global and domestic gold prices are not expected to fluctuate much in the coming days, said Mohammad Keshti-Aray, head of Tehran Gold and Jewelers Union, on Thursday.

“The market has been…

E conomists and state officials have commonly taken a dim view of excessive agricultural imports since it is contrary to the very premises of a Resistance Economy doctrine that has been hailed as…

The governor of Central Bank of Iran has advocated raising banks' capital as a strategy to make an exit from the recession and achieve economic growth.

Employees of Sina Bank celebrated the lender’s 30th anniversary on Friday. The entity was established as Bonyad Credit Institution in May 1985 with an equity of 10 billion rials. It received a…

India has allowed the Kudremukh Iron Ore Company (KIOCL) to source iron ore from Iran to manufacture iron ore pellets under rupee trade mechanism and export it back to Iran to be used in Iranian…

At least 300 million square meters of ceramic tiles are piled up at factories or in distributors’ storehouses, as the manufacturers face shortage of demand in both domestic and foreign markets,…

Some 5.4 trillion rials ($187.3 million based on official currency exchange rate) have been allocated to the mining sector out of the mining royalties which will be received in the current Iranian…

More than 3.05 billion securities changed hands in 84,000 transactions at Iran Fara Bourse during the working week that ended May 27, valued at a total of $739.3 million to record an unprecedented…

The western Kurdistan Province accounts for 10 percent of Iran’s gold mine reserves, Mehr News Agency quoted head of Kurdistan’s Industry, Mine and Trade Organization, Mohammad Dare Vazami, as…

The shoe industry in Iran is one of the most neglected sectors of the economy, to the extent that official data about the sector are hard to come by.

An estimated 3,700 inactive manufacturing units will be revived by the end of the current Iranian year (started March 21), deputy minister of mine, industry and trade, Mojtaba Khosrwotaj, said on…

The Iranian Tobacco Company (ITC) plans to increase production by 66% to 15 billion cigarettes in the current Iranian year (started March 21), ISNA reported. The ITC produced more than 1.7 billion…

One-fifth of Iran’s small-sized enterprises is working at less than 50% capacity, director of Iran Small Industries and Industrial Parks Organization, Mehr News Agency quoted Mohammad Ali…

The National Iranian Productivity Organization released figures showing that labor productivity shrank by as much as 2.5 percent between the Iranian years 1390 and 1392 (March 2011 to March 2013…

Officials in Anzali Free Trade Zone have welcomed the idea of setting up the so-called “House of Switzerland” in the region, deputy head of Iran-Switzerland chamber of commerce, Reza Rafiei,…

China and Iran have opened a joint nano center in Suzhou Science Park in China, according to ISNA.

The center was inaugurated in a ceremony attended by the deputies of Iranian vice…

Google announced on Friday it will offer its mobile mapping application, Google Maps, completely offline, according to Engadget. Now if a user has no mobile signal, or their 3G signal continues to…