Economy

GAZ Group, a Russian automotive conglomerate, has signed a memorandum of understanding (MoU) with the municipalities of four Iranian cities for the delivery of 900 buses to renovate public…

French car sales rose 5.8% in December, according to industry data published on December 1, closing a second consecutive year of strong growth in Europe’s third-biggest auto market. Registrations…

The price of imported cars has shot up due to the increase in foreign currency rates in the past four weeks as the rial took a new drubbing.

Iran’s deputy minister of industries told…

The Central Bank of Iran has issued a foreign exchange directive that curbs the activities of bureaux de change and increases banks' role in forex trading, the CBI governor announced.

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Bank Sepah has opened a $1 billion credit line for a gas refinery project, as the first tranche of a $2.2 billion syndicated loan, said Bank Sepah’s chief executive.

Lawmakers in an open session on Sunday ratified new articles related to the sixth five-year development plan (2016-21), obligating the government and the Central Bank of Iran to take initiatives…

The Central Bank of Iran will launch the interbank foreign exchange market to prevent fluctuations in foreign exchange, CBI’s governor announced on Sunday. Valiollah Seif added that the interbank…

Tehran Stock Exchange’s main index shed 590.60 points or 0.74% to end Sunday trade at 78,896.

The support level refers to the price level, below which, historically, a stock or an index has…

One hundred forty-eight parliamentarians approved last week a motion to hand over all Iranian free trade zones to the Ministry of Economic Affairs and Finance.

The measure was added by the…

The government is unwilling to pull down the inflation further.

Economy Minister Ali Tayyebnia said the government has reached “the stiff core of the inflation” and that “it has become…

Over $25 billion will be raised in the capital market from Salaf contracts and capital increase by the end of the current Iranian year (March 20), the head of Securities and Exchange Organization…

Irish farmers have called on their government to reopen the Irish Embassy in Iran, which was closed in 2011.

The Ministry of Industries, Mining and Trade issued 498 mineral exploration and 527 mineral production permits during the eight months to November 20. The figures show a 5.6% and 8.7% growth…

Close to 90% of the 40 bitumen mines in the city of Gilan-e Gharb in Kermanshah Province have gone out of business, a local official said. “Bitumen prices declined alongside oil and now stand at…

The National Iranian Productivity Organization has signed a memorandum of understanding with Korea Productivity Center to improve productivity through cooperation between Iranian and…

Over 4.3 million tons of goods worth $1.42 billion were exported from Kermanshah during the nine months to November 20, a provincial customs official said. “The exported commodities mainly…

Foxconn, a Taiwan tech-giant, plans to build an $8.8 billion factory in China, state media said on December 31, amid reports its billionaire boss is cooling off on future US investments.

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Private Internet service provider Shatel has hit back at the Telecommunications Company of Iran (TCI) after the state firm barred the ISP’s new Voice Over Internet Protocol (VOIP) service from…

The fourth edition of Iran Web Festival has started accepting applications from exhibitors. Those owning a website, a web-based software or mobile phone application in the country can take part.…

An Iranian knowledge-based company has manufactured a device for tracking eye movement, a process widely used in medicine, psychology and business.

The company, staffed by young…

Bank Maskan, the agent bank of the housing sector and the country’s main mortgage lender, announced a whopping year-on-year increase in the value of mortgages in the first three quarters of the…

The unification of Iran's dual foreign exchange regime and the decline in the exchange rate of major currencies were among the most important topics discussed at Saturday's meeting between top…

Noor Credit Institution is planning to increase its capital from the current 3 trillion rials ($7.5 million) to 6 trillion rials ($15 million) and become a bank, said the credit institution’s…

There is not much buying or selling happening in the UAE’s hot rolled coil market due to the uncertain situation and fluctuating prices. Besides, demand is weak at the end of the year and…

The steel industry is one of the most strategic sectors of the Iranian economy, as it accounts for the bulk of the mining sector’s exports and revenue and is at the same time vital for the…