I n 2011 a plan to extend Tehran’s satellite city of Parand—20km southwest of the capital city—was made public by a group of developers. They announced that the newly proposed city would be called…
Economy
Operations have started in Golgohar iron ore mine’s 5th mineral reserve, which is estimated to hold at least 24 million metric tons of iron ore, the Iranian Mines and mining Industries Development…
The nepheline syenite mine in the northwestern city of Sarab has begun producing alumina, the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) reported on…
Major iron ore companies produced 23.56 million metric tons of iron ore concentrate during the eleven months ending on February 19, Fooladnews reported. The production recorded a 7% growth in…
The TSE’s main index (TEDPIX) kept paring losses on Sunday to notch up to a new record high since February 18, with the equity market underpinned by fresh fund inflows that were unleashed…
More than 17.5 million metric tons of cement and clinker – the raw material to produce cement – were exported during the past 11 months of the current Iranian year (to end March 20), according to…
IRICA (Islamic Republic of Iran Customs Administration) is to implement the so-called ‘single-window system’ as of the new Iranian year (March 21) to help facilitate international trade, the…
As much as 60% of auto parts in the market are poor quality products imported mainly from China, said a member of Auto Parts Manufacturers Association (APMA) board of directors, Farhad Behnia on…
“The government will identify high-income households [to be excluded from the cash subsidy list] based on the place of residence, household size and income level,” Member of Parliament’s Joint…
Bureaucracy and graft are seen as some of the primary reasons undermining business and pushing entrepreneurs and investors further away. It has also saddled productive sectors of the economy,…
The ‘Quinoa Project’, a global project to cultivate quinoa on a trial run is being implemented in seven regions of Iran including Iranshahr in collaboration with Food and Agriculture Organization…
Nearly 1.5 million people are employed in the cooperative sector, said ISNA quoted deputy minister of cooperatives, labor and social welfare, Hamid Kalantari as saying on Sunday. The government…
Iranian and Turkish officials on Sunday signed 11 memorandums of understanding (MoU’s) to further develop cooperation in banking and customs affairs, IRNA reported on Sunday.
Nearly $163 million worth of different goods have been exported from South Khorasan Province to neighboring Afghanistan since the beginning of the current Iranian year (to end March 20),…
The Iran Mercantile Exchange (IME)’s trading halls played host to various commodities by local petrochemical complexes on Saturday trading, IME’s public relations office reported.
Despite vast mineral resources of high quality, the mines in Chaharmahal and Bakhtiari Province in southwestern Iran remain largely unexplored, Iran newspaper reported.
Major aluminum makers produced 30,577 metric tons of ingots in the 11th month of the current Iranian year (January 21-February 19), which indicates a 7% increase compared with the same period last…
Contrary to the popular belief among steel industry experts that imposing higher import tariffs will help the domestic steel sector, a member of Auto Parts Manufacturers Association (APMA) board…
A fresh bullish sentiment at the Tehran Stock Exchange (TSE) over optimistic speculations about the ongoing nuclear talks led to the benchmark experiencing a three-month record high at Saturday's…
Banks will no longer be allowed to purchase participatory bonds, stated deputy minister of economic affairs and finance Shapur Mohammadi.
The official explained that for the following year…
The Export Development Bank of Iran (EDBI) provided funding for eight national development projects in the fiscal year ending March 20, IRNA reported on Saturday.
Apart from the projects,…
Disruptions in the banking network grow as the Iranian New Year approaches and the number of physical and virtual visits to the bank portals increase, Tasnim news agency reported.
UniCredit is in discussions with US authorities investigating the Italian bank for possible violations of sanctions on Iran, its chief said after reports that Commerzbank agreed to a settlement in…
The rial surged versus all foreign currencies and equities rose in Tehran on Saturday, as optimism that Iran and the six world powers (P5+1) would strike an accord ending the 12-year nuclear…
Iran Insurance Company (IIC) which has taken over Tose’e Insurance Company (TIC) is now in charge of the failed insurer, Banker reported, citing IIC’s managing director. After TIC’s…
