Economy

Economy minister says Iran’s rise in new world order promotes active role in global affairs

Iran’s minister of economic affairs and finance has stated that the increase in Tehran’s power in the new world order has enabled the country to play an active role in areas such as combating climate change, technology transfer and joint investments.

Iran’s Central Bank says to launch digital Rial in near future

Governor of the Central Bank of Iran Mohammad Reza Farzin has announced that the digital Rial will begin operations soon. He also stressed that the development of modern banking is one of the central bank’s key ongoing goals.

Iran’s economy minister to visit Saudi Arabia for annual investment meeting

Iran's Minister of Economic Affairs and Finance Abdolnasser Hemmati is set to travel to Saudi Arabia to attend the 28th annual meeting of the World Association of Investment Promotion Agencies (WAIPA) on Monday.

Iran ex-Central Bank Governor: FATF compliance could facilitate transactions with China, Russia

A former governor of Iran's Central Bank, underscored the potential benefits of Iran's compliance with the anti-money laundering Financial Action Task Force (FATF) standards, particularly in enhancing international banking transactions.

Economy minister: Remaining on FATF blacklist unjustly labels Iran as money launderer 

Iran's minister of economy has criticized the continued inclusion of Iran on the Financial Action Task Force (FATF) blacklist, arguing it unfairly labels the country as engaging in money laundering. 

Iran’s Chabahar Free Zone, Armenia business sectors sign cooperation agreements

The Chabahar Free Zone Organization on the coast of Oman Sea in southeastern Iran, has signed four cooperation agreements with four Armenian economic actors, aimed at providing the necessary groundwork and conditions to facilitate, expedite, guide, and support investment in the region.

Iran, Russia payment networks connected

Russia’s Mir payment network and Iran’s Shetab payment system were officially connected in a ceremony on Monday, as Tehran and Moscow continue to strengthen their financial cooperation.

Customs: Iran’s non-oil trade in past 7 months surpasses $70bn

Iran's Customs Administration released a report on Monday detailing the country's foreign trade statistics for the first seven months of the current Iranian year.

Iran’s foreign trade hits $100b

The value of Iran’s foreign trade has reached $99.7 billion during the first seven months of the current Iranian calendar year, the head of the Islamic Republic of Iran Customs Administration (IRICA) said in a report.

Former official: Iran president has sufficient momentum for FATF approval

The debate over the Financial Action Task Force (FATF) continues to intensify in Iran, with key political figures expressing divergent views.

Iranian vice president: Joining FATF under review by administration

The Iranian vice president for legal affairs says the Financial Action Task Force (FATF) is currently being reviewed by the ministry of economy and finance, following a directive by President Massoud Pezeshkian.

President Pezeshkian urges BRICS economic synergy, resistance against dominance of US dollar

Iranian President Massoud Pezeshkian has called on the BRICS group of emerging economies to create interconnected economic and trade cooperation among its member states, involving both public and private sectors, emphasizing that these endeavours would resist the dominance of the US dollar in their exchanges.

Iran’s president: BRICS ‘a path to counter U.S. unilateralism’

Iranian President Massoud Pezeshkian has highlighted the importance of the BRICS summit that is underway in the Russian city of Kazan, saying the intergovernmental organization can strengthen ties between member states and beat back U.S. unilateralism. 

Iran’s economy minister: Internet filtering has limited, slowed economic activities in cyberspace

Iran’s Minister of Economy says the internet filtering has damaged the country’s economy and urged relevant officials to lift the restrictive measure.

Iran’s First VP in Armenia for economic forum

Iranian First Vice President Mohammad Reza Aref landed in Armenia to attend the third edition of the Eurasian Economic Forum and a meeting of the Eurasian Intergovernmental Council.

Iran, Pakistan agree to settle dispute over gas pipeline project

Tehran and Islamabad made arrangements to remove the obstacles to the implementation of a gas pipeline project between the two countries.

Iran’s non-oil trade with neighbors reaches $32.6 billion in first half of 2024

Mohammad Reza Rezvanifar, the head of Iran's Customs Administration, announced that Iran's non-oil trade with 15 neighboring countries reached 50 million tons, valued at $32.6 billion, during the first half of the current year.

Iran vice president slammed for saying subsidized gasoline price ‘unreasonable’

Iranian Vice President Mohammadreza Aref has been the subject of criticisms for saying on Sunday that importing gasoline price at high prices and selling it at heavily-subsidized prices is ‘unreasonable.’

Chinese envoy blames Western sanctions for trade hurdles with Iran

China’s Ambassador to Tehran Cong Peiwu says the persisting problems for transactions between the Chinese and Iranian businesspeople are rooted in the Western, and specifically US, sanctions.

Head of Securities and Exchange Organization of Iran steps down amid loan row, red market

The Chairman of the Board of the Securities and Exchange Organization of Iran Majid Eshghi confirmed on Saturday he resigned from the post after a long period that the markets have been in the red, and days into a reported row over low-rate bank loans he received.

Controversy surrounds billion-toman loans to Iran’s stock market board amid public outcry

Iranian media is abuzz with controversy after it was revealed that senior members of the country's Securities and Exchange Organization (SEO) granted themselves loans totaling 10.5 billion tomans. 

Unofficial sources say several Iranian banks hit by massive cyberattack

A massive cyberattack that hit Iran last month threatened the stability of its banking system and forced Tehran to agree to a ransom deal of millions of dollars, Politico reported citing people familiar with the case. The Islamic Republic has yet to respond to the claim.

Official: Illegal import of iPhones costs Iran $900mn

Iran’s ban on importing iPhone cellphones has led to a capital flight of 900 million dollars to sneak the phones in high demand into the country through illegal channels and smuggling, the head of the country’s Association of Mobile Phone Importers says.

Iran’s president terms expansion of intl. interactions as key to resolving economic problems

Iranian President Masoud Pezeshkian has described the expansion of international interactions as a key solution to the country's economic challenges. He also emphasized his administration's endeavours to foster such cooperation and attract foreign investment.

Iran, Turkmenistan ink cooperation deals in various fields

Iran and Turkmenistan have signed a number of cooperation agreements during a visit by the Chairman of the People's Council of Turkmenistan, Gurbanguly Berdimuhamedow to Tehran.

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