Economy

UK Minister in Tehran to Discuss Business Ties despite US Bans

Iran and Britain are slated to hold a new round of bilateral talks in the Iranian capital Tehran on September 1, defying the US sanctions re-imposed by the Trump administration.

Iran to Dispatch Skilled Workforce to UK, Germany

A senior official says skilled Iranian workforce will be dispatched to Germany and the United Kingdom as part of deals signed with the European countries.

Iran Developing National Blockchain Platform

An Iranian central bank official says the country is working to create its homegrown, seamless blockchain platform, which will enable the country to create a money transfer network involving Iran and its allies.

Iran Calls for Opening Joint Shipping Line with Qatar

Iranian President Hassan Rouhani has called for further expansion of relations with Qatar, especially by launching a joint shipping line between the two Persian Gulf states.

Iran’s Economy Minister Sacked by Parliament

Iran’s Minister of Economic Affairs and Finance Masoud Karbasian could not survive an impeachment by the Iranian Parliament and will have to leave his office.

Rouhani Optimistic Iran Could Overcome Existing Challenges

The Iranian president says his government is determined to handle challenges the nation is facing, and he is optimistic the country will succeed in foiling hostile plots, just like the way it managed to discredit nuclear allegations against Iran.

US Still Top Importer of Persian Rugs despite Sanctions

The United States is still the main importer of Iranian carpets despite the sanctions it has imposed on the country’s economy.

Iran Chamber of Commerce Says Tehran Must Join FATF

Iran’s Chamber of Commerce has urged the Rouhani administration to join the Financial Action Task Force (FATF), an international body which develops policies to combat money laundering.

Scorpion Poison Trade: An Emerging Lucrative Business

The trade of scorpion venom has turned into one of the most lucrative emerging businesses in Iran, tempting many opportunists to get engaged in hunting or farming scorpions.

“FDD Plotting to Depreciate Value of Turkish Lira”

A complicated plot hatched by the Foundation for Defence of Democracies (FDD) and the funds provided by the UAE and Saudi Arabia have been at work to decrease the value of the Turkish national currency, a media report claims.

Saudi Tourists Flocking to Turkey’s Shops amid Lira Plunge

Tourists from Saudi Arabia and other regional countries are flocking to high-end shops in Turkey, as a historic plunge in the value of the country’s national currency has made prices extremely affordable for foreigners.

Turks Break iPhones into Pieces in Response to Erdogan’s Call

A number of Turkish citizens have broken their iPhones into pieces in response to a call by President Recep Tayyip Erdogan to boycott US electronics amid escalating tensions between Ankara and Washington.

Mismanagement, Not Sanctions, Main Cause of Iranian Currency Devaluation: Leader

Leader of Iran's Islamic Revolution Ayatollah Seyyed Ali Khamenei has blamed the government for the ongoing economic crisis in the country, saying the internal factor has been much more effective than external ones like sanctions.

Iran Leader Urges “Swift, Just” Prosecution of Those Involved in Economic Corruption

In response to a letter by Head of Iran's Judiciary Branch, seeking permission to take special measures in order to confront economic corruption, the Leader of the Islamic Revolution approved the request and called for “swift and just” legal action against economic corruption.

Swiss Companies Urged to Keep Doing Business with Iran

The Swiss government has promised to defend the economic interests of its companies that are active in Iran and would be targeted by renewed US sanctions, recommending that they go on with their business in the Islamic Republic.

Return of US Sanctions Real Chance for Economic Modernization: Iran

Iran’s Parliament Speaker Ali Larijani says the snapback of US sanctions could be a good chance for renovating the Iranian economy, if the Iranian people decide to stand on their own feet and move to boost domestic production.

Iran Unveils New Policies to Restore Calm to Forex Market

Abdolnasser Hemmati, the newly-appointed governor of Iran’s Central Bank, unveiled a package of measures to rein in the recent turbulence in foreign currency market in Iran.

Arab Pilgrims Exchanging Currencies in Iranian Streets

The three-month closure of currency exchange offices in the holy city of Qom in central Iran has prompted many ordinary people and even foreign pilgrims to turn to the city’s streets to exchange their money and even earn a livelihood.

Rouhani to Appear before Parliament to Reveal “Truths” behind Economic Crisis

Iranian President Hassan Rouhani has decided to go to the Parliament to respond to the lawmakers’ questions about the Iranian economy, planning to use the opportunity to reveal “truths” behind the country’s conditions.

Iranian Lawmakers Summon President amid Economic Crisis

After several failed attempts, Iranian lawmakers for the first time mustered enough votes on Wednesday to summon President Hassan Rouhani to answer their questions in coming weeks over issues related to his handling of the country’s struggling economy.

“Iranian Government to Resolve Economic Crisis Soon”

Iran’s First Vice-President Es’haq Jahangiri says the new economic conditions in Iran will not continue and the government plans to introduce a new foreign currency package to deal with the situation.

Gov’t under Pressure to Do More to Stop Rial’s Historic Plunge

The Iranian government is under great pressure to take more steps to normalize what the Central Bank calls “unusual” economic conditions, as the country grapples with a flagging economy and the national currency slides to record lows.

14% Rise in Iran’s Non-Oil Exports despite US Pressures

The Islamic Republic of Iran Customs Administration (IRICA) has released details of the country’s foreign trade, which show during the first four months of current Iranian year the value of Iran’s non-oil exports has risen by over $30 billion.

Turkey Working to Avoid Negative Impacts of US’ Sanctions on Iran

Turkey's Foreign Ministry says the country's officials are working to prevent Ankara from being negatively affected by the US move to re-impose nuclear sanctions against Iran in the wake of Washington's withdrawal from a historic nuclear deal signed between the Islamic Republic and the P5+1 group of countries in 2015.

Iran Ready to Expand Business Ties with D-8 States: FM

Iranian Foreign Minister Mohammad Javad Zarif and the Secretary General of the D-8 Organization for Economic Cooperation, Dato’ Ku Jaafar Ku Shaari, sat for talks on bilateral relations in Tehran.

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