Economy

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.

Iran president’s pick for trade ministry says ‘rise in non-oil exports’ on agenda

Iranian President Massoud Pezeshkian’s nominee for the ministry of industry, mine, and trade says developing exports and boosting the country’s trade balance through increasing non-oil exports is a top priority in his program.

Survey shows Iranians upbeat Pezeshkian administration able to tame inflation

A new poll found that a majority of Iranians are upbeat that the new Iranian President Masoud Pezeshkian and his administration can tame high levels of inflation in the country. The swearing-in ceremony for Pezeshkian was held at the Parliament on Tuesday.

Data: Iran’s non-oil exports rise 8.3 percent

Iran’s export of non-oil items has increased by $1.35 billion during the first four months of the current year on the Iranian calendar, staring on March 20, according to official figures.

Russia’s largest bank to participate in major Iranian financial event

The secretary of the policy-making council of the 14th Iranian financial industry event says Russia’s largest bank which holds an asset value of 290 billion dollars, will certainly participate in this year's Stock Exchange, Bank and Insurance Exhibition in the Islamic Republic.

Iran’s trade with neighbors hits $20bn mark

Iran’s trade with its neighboring countries has reached 20 billion dollars, showing a 6-percent increase in the past 4 months.

Iran says has defused Western sanctions on gas condensates exports

Iran’s oil minister says the country has rendered the US-led Western sanctions on gas condensates exports completely ineffective.

China ambassador to Tehran says Chinese firms willing to invest in Iran

China's ambassador to the Islamic Republic of Iran says that Chinese companies are willing to invest in various projects in Iran and to that end, seek a stable environment for investment.

Official: Joint Iran-Saudi economic commission to be held soon

Iran’s deputy foreign minister for economic diplomacy says Saudi Arabia is keen on boosting economic cooperation with Iran, adding a joint commission will be held within three months.

Inauguration of Iran-China freight train

The Iran-China dual-load freight train was officially inaugurated at the Aprin Rail Dry Port near Tehran.

Official: De-dollarization, Rial’s immunity from sanctions in Iran-Russia monetary agreement

The Deputy for International Affairs at the Central Bank of Iran (CBI) detailed the monetary agreement between Iran and Russia aimed at achieving de-dollarization, stating that this move pushes the Iranian Rial towards being unsanctionable.

Official: Iranians can withdraw money from Russian ATMs with bank cards

Iran’s Central Bank governor says from late August, Iranians can withdraw money from Russian ATMs with Iranian bank cards.

Iran’s currency strengthens after Pezeshkian wins presidential election

Iran’s national currency, the rial, is still in the doldrums having lost considerable value since last year – but it regained some lost ground at market open on Saturday. It comes after Reformist candidate Masoud Pezeshkian won Iran's presidential election, securing 53.3% of the votes and defeating his principlist rival Saeed Jalili

Iran’s Central Bank chief proposes FATF-like institution for BRICS

In a forward-looking proposal, Governor of the Central Bank of Iran Mohammad Reza Farzin suggested the establishment of an institution akin to the Financial Action Task Force (FATF) among BRICS nations.

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