One of Iran’s main economic policies, under the framework of the sixth five-year development plan, is modification of banking system and reformation of monetary policies, moving forward toward which the Rouhani administration put forward the plan to shift the national currency from Rial to Toman earlier in December 2016 by eliminating specific number of zeroes. […]

 India has started its commercial activities in Iran’s southeastern port of Chabahar, the Indian government said on Monday, Economic Times reported. “The Government of India took over the operations of a part of Shahid Beheshti Port, Chabahar, in Iran during the Chabahar Trilateral Agreement meeting held there on December 24, 2018,” the Indian Shipping Ministry […]

 Minister of Road, Transport and Highways Sh. Nitin Gadkari announced the Indian government has allowed an Iranian bank to open a branch in Mumbai. Iran’s Bank Pasargad will open its branch within the next three months, Gadkari said on Tuesday, after a meeting with Iran’s Foreign Minister Javad Zarif in New Delhi. Gadkari termed his […]

Deputy Industry, Mines and Trade Minister in Mines and Mining Industries Jafar Sarghini announced the export of 6.5 million tons of steel in the eight months of the current Iranian calendar year in 1397 (March 21-Nov. 21), showing a considerable 18 percent growth as compared to the last year’s corresponding period. He put the steel […]

 The CEO of National Iranian Oil Products Distribution Company (NIOPDC) said his company was supplying Euro-4 gasoil across the country, adding the item would soon be distributed nationwide soon. According to NIOPDC, Mohammad Reza Mousavikhah said the provinces of Keman, Yaz, Sistan and Balouchestan, Bushehr, Semnan and Fars would be fully supplied with the item […]

 The 3rd edition of Tehran International Exhibition of Automobile and Related Industries (Tehran Auto Show) became operational at Shahr-e-Aftab International Exhibition Center on Monday, IRIB reported. The exhibition aims to introduce Iranian Auto industry’s capabilities in various fields including domestic production, spare parts and related industries. In addition to the main exhibition, this year’s event […]

Japan’s JXTG Holdings intends to resume loading oil from Iran at the end of January, while Cosmo Oil aims to load around 1.8 million barrels of Iranian crude at the end of this month upon making final clearance, the presidents of the companies told S&P Global Platts Monday. “We hope to resume [Iranian oil imports] […]

 Iran’s Chaharmahal and Bakhtiari Province Automotive Sheet Making Company (CBASCO) has exported its first shipment of galvanized sheets to Europe, a senior official at the Ministry of Industry, Mine and Trade said. According to Naeim Imami, chairman of the Industry, Mine and Trade Organization of Chaharmahal and Bakhtiari province, the company exported 9,135 tons of […]

Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati said on Mon. that removing four zeros off national currency ‘rial’ will take about two years. The proposed bill for lopping four zeros off rial requires approval of both the government and the Parliament, he said, adding, “economic experts estimate that launching this task will take […]

 The Central Bank of Iran (CBI) submitted the draft of a bill to slash four zeroes from the national currency, rial, to the cabinet, Tasnim news agency quoted the governor of the CBI as saying on Sunday. “The government submitted the bill on crossing out four zeroes of the national currency to the parliament on […]