Iran Economy

Iran’s Parliament Approves Establishing Free Trade Zone with Eurasia

Iranian lawmakers have approved a bill to temporarily run a free trade zone between Iran and Eurasian Economic Union.

Iran Blames Turkish Traders for Rising Prices of Agricultural Produce

A senior Iranian agriculture official says one of the reasons behind a sudden rise in the prices of agricultural produce in Iran is Turkish businessmen who come to Iran to buy products wholesale.

Iran’s Reliance on Oil Revenues Down to 30 Percent: VP

Iran’s first vice president says the country’s reliance on oil revenues has reduced significantly due to the hard efforts made over the recent years.

Is Iran Planning to Recognize Bitcoin?

The unveiling of a new system during the recent International Exchange, Bank and Insurance Fair (IRAN FINEX) in Tehran has aroused speculations that Iran might be planning to legalize Bitcoin as a legal currency in a bid to survive the new round of US bans.

Brazil Says Ready to Help Iran in Face of US Sanctions

The Brazilian ambassador to Iran says the US’ anti-Iran sanctions are cowardly and, if necessary, Tehran can count on Brazil in this regard.

US Seeking to Devaluate Iranian Currency: Rouhani

Iran’s president says the United States wants to have the Iranian currency devalued in order to achieve its illegitimate objectives.

Enemies Plotting to Disrupt Iran’s Forex Market, Chief Banker Warns

Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati said enemies have hatched secret plots to hit the country’s foreign exchange market, calling for more efforts to foil the conspiracies.

Iran’s Exports Hit $70bn despite Sanctions: Customs Chief

Head of Iran’s Customs Administration says despite the cruel sanctions imposed by the US, the Islamic Republic’s oil and non-oil exports have reached $70 billion.

Iran Says to Launch Mechanism Proportionate to INSTEX

Governor of Central Bank of Iran (CBI) Abdolnasser Hemmati announced late on Friday that the mechanism proportionate to the channel introduced by the three European states will soon be registered in Tehran.

Women Entrepreneurs Shining in Iran despite Sanctions

The “Women of the Sanctions Era” campaign composed of successful women entrepreneurs has recently gone viral on social media networks in Iran as the country is grappling with the “toughest sanctions ever” imposed by the US.

Iran Ready to Boost Ties with China within ‘One Belt, One Road’

Iranian Minister of Economic Affairs and Finance has called for expansion of mutual ties between Iran and China in all areas within the One Belt, One Road Initiative.

Iran, Syria Sign 18 Deals to Expand Business Ties

Iran and Syria have signed at least 18 deals as part of a larger plan to expand their trade ties amid the US unilateral sanctions on the Islamic Republic.

Iranian, Iraqi Presidents Agree on Enhanced Trade Ties

Iranian President Hassan Rouhani and his Iraqi counterpart Barham Salih have called for expansion of bilateral ties between the two neighbouring states in line with the interest of both nations.

Iran President in Iraq to Expand Mutual Trade to $20bn

Iranian President Hassan Rouhani, who is currently on a historic visit to Iraq, says Tehran and Baghdad can easily raise their mutual trade to 20 billion dollars a year.

Iranians on Shopping Sprees in Run-up to New Year

Iranian people from all walks of life are going on shopping sprees as the Persian New Year is around the corner.

Rouhani Says 3.4m Jobs Created in 5 Years, but More Needed

Iranian President Hassan Rouhani says his administration has managed to create over three million job opportunities during the past five years he’s been in office, but that’s far behind what the society needs.

Rouhani Gov’t Denies Rumours It’s Behind Currency Hikes

The Iranian president's chief of staff has rejected rumours that this week’s hike in the value of foreign currencies in Iranian markets was planned by the government as part of efforts to meet FATF guidelines, saying the government would not “play games” with people’s livelihood.

Iran Parliament Allows Gov’t to Get $5 Billion Loan from Russia

The Iranian parliament has extended a licence allowing the government to receive a total of $5 billion loan from Russia for infrastructure projects.

Iran Signs MoU with Russia, Kazakhstan for Free Trade

Russia, Kazakhstan and Iran have signed a memorandum of understanding for cooperation in wheat trading, taking another step towards setting up a free trade zone.

Iran’s Economy to Undergo Structural Changes upon Leader’s Order

A senior lawmaker says Iranian officials will in coming weeks start debating a structural shakeup of the economy, which had been stressed by Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei.

Iran Turns Dream into Reality by Unveiling Its Own Cryptocurrency

They say every dream begins with a dreamer. But dreams cannot be realized through miracles and magic. They take hard work, determination, and lots of sweat. This is the current state of Iran. What started as a dream in the summer of 2018 seems to have become a reality as the country just unveiled a state-backed cryptocurrency.

Shipping Line Between India and Chabahar Port Established

The first Indian cargo entered Chabahar’s Shahid Beheshti Port on Sunday, formally establishing shipping lines between India’s port and the strategic Iranian port.

Iran’s Not Joining FATF Detrimental: Official

A senior Iranian official says if Iran does not join the Financial Action Task Force (FATF) that would mean the country will be deprived of selling oil, even to China.

Iranian Firm Ready to Develop Chabahar’s Second Phase

An IRGC-affiliated firm has announced readiness to develop the second phase of Chabahar port in southern Iran.

Japan Begins Importing Oil from Iran: CBI Governor

Governor of Central Bank of Iran says after China, South Korea, India and Turkey, Japan has begun the process of importing oil from the Islamic Republic.

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