An Italian asset manager has purchased stakes in an Iranian financial company thus becoming the first foreign fund house to invest in the nation’s financial sector.   The Financial Times reported that Azimut, a €48-billion group headquartered in Milan, had acquired 20 percent of Mofid Entekhab, an Iranian asset manager, for an undisclosed sum. “We were looking […]

TEHRAN- Transit of goods via Iran rose 27 percent during the first six months of the current Iranian calendar year (March 21-September 22) compared to the same period of time in the past year, according to a transport official. Reza Nafisi, director general of Transit and International Transportation Department in Iran Road Maintenance & Transportation […]

TEHRAN – Central Bank of Iran (CBI) and Economic Cooperation Organization (ECO) Trade and Development Bank signed a memorandum of understanding (MOU) on bilateral cooperation on Monday. the MOU was signed by ECO bank’s Vice President Burhanettin Aktas and Hossein Yaqoubi, the director general of CBI’s International Affairs Department, in Ankara. The MOU specifies the […]

Iraq’s central government has launched a probe into the hefty oil revenues of the semi-autonomous Kurdistan Regional Government (KRG), further seeking to seize key businesses in the separatist northern region two weeks after the Kurdish leaders held a highly controversial referendum to secede from the Arab country in open defiance of Baghdad. According to a statement […]

TEHRAN- Russia will set up a trading house in Armenia on the border with Iran, Vestnik Kavkaza reported. It means a joint agreement signed with the Russian Export Center on work in the Free Economic Zone (FEZ) in Armenia, the president of the Armenian public organization ‘International Forum of the Eurasian Partnership’ and the Union […]

TEHRAN- Iranian Deputy Transport Minister Asghar Fakhrieh Kashan announced that allocation of $12 billion of finance is to be finalized for being used in transport and urban development projects, ILNA quoted the official as saying on Sunday. Explaining that no ceiling has been predicted for allocation of the approved $55 billion of finances in Iran’s […]

In its latest report on easing doing business index, the World Bank has put Iran at the position of 120 among 190 countries. Dr. Hossein Mirshojaeian, the deputy finance and economic affairs minister, is of the opinion that submitting precise data and information by the country to the World Bank and also changing specific methodologies […]

The Czech Republic says it plans to allocate a credit line of €100 million to support Iran’s infrastructure projects.  The announcement was made by Czech Ambassador to Tehran Svatopluk Cumba who said an agreement to the same effect would be signed between the two countries in the near future. Cumba added that there had been […]

TEHRAN- According to the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), the Iranian private body will dispatch its trade delegation to Astrakhan, Russia on October 23, 2017. The delegation, to be led by the Iranian Head of Iran-Russia Chamber of Commerce Assadollah Asgar-Oladi, plans to attend the 16th meeting of the […]

Abbas Ghorbanalibeik, the first director in the Islamic Republic of Iran Railways (known as RAI) appointed in 2006 to initiate railway electrification in the country, believes that the first electrification of railway line from Tehran to Mashhad should be conducted in Iran as soon as possible so that we can expand this system to the […]