The International Monetary Fund on Wednesday approved the third installment of a $12 billion, three-year loan for Egypt, bringing the total released to date to just over $6 billion. The IMF board approved the latest $2 billion disbursement under the deal signed in November 2016, after a fund team last month praised Cairo’s progress on […]

Britain’s markets watchdog will step up its scrutiny of the initial coin offering (ICO) market to see if new rules are needed to protect investors after issuing an alert in September. Start-ups have begun issuing new digital currencies via ICOs and the market has raised about 3.7 billion pounds this year according to an industry […]

TEHRAN – Iran and Czech Republic signed an agreement to encourage and support mutual investment. According to Shada news agency, the document was signed by Czech Deputy Finance Minister Ondrej Landa and Deputy Finance Minister of Iran Mohammad Khazaie in Tehran on Monday. Iranian Finance Minister Masoud Karbasian also attended the signing ceremony. After signing […]

TEHRAN – Tony Walker of Serica Energy says that his company is posed to have more interaction with Iran after the successful venture of the North Sea, Rhum Gas Field. Tony Walker, the CEO of Serica Energy plc, a UK-based oil and gas company, says that if the project in Rhum Gas Field in North […]

A 34 million euro contract for engineering of polypropylene production from natural gas was signed between Ardebil Petrochemical Company and Italy’s Techint Engineering & Construction. Under the contract signed on Tuesday, Italy’s Techint Engineering & Construction is tasked to determine a licensor for a 500,000-ton unit within 18 months and to estimate the final cost of constructing the main […]

Seyed Reza Aghazadeh, Iran’s commercial attaché in China, said several advantages of foreign investment in Iran had been examined at the international Silk Road summit held last week in Beijing. The two-day Belt and Road Forum for International Cooperation closed last Monday in Beijing, with Chinese President Xi Jinping declaring the event a success and […]

The EU’s top court will decide Wednesday if ride-hailing app Uber is an ordinary taxi company and should be regulated as such, in a decision that will be closely watched around the world. The case is yet another thorn in the side for scandal-rocked Uber, which has drawn the fury of local taxi drivers and […]

Southeast Asian nations are riding a global trade boom that’s set to underpin solid economic growth next year, supporting the region as it embarks on monetary policy tightening and braces for a spate of elections. The Philippines and Vietnam will remain the star performers in 2018, with economic growth projected to exceed 6% again, according […]

TEHRAN – Iran gained some 526.4 trillion rials (about $12.63 billion) in tax income during the first seven months of the current Iranian calendar year (ended on October 22, 2017). According to the report, the Iranian government could manage to collect $12.6 billion of the total 689.2 trillion rials (about $16.53 billion) anticipated to be […]

TEHRAN- Following holding discussions on December 2–13 on the 2017 Article IV Consultation with Iran, Catriona Purfield, the head of International Monetary Fund (IMF) delegation to Iran, predicted that the country’s real gross domestic product (GDP) growth will reach 4.2 percent in 2017-18. As Purfield reported growth has begun to broaden to the non-oil sector. […]