EghtesadOnline: Hungarian bus manufacturer Ikarus and the Iranian City Industries and Mines Development Group (City IMD), affiliated to Shahr Bank (City Bank), have signed a memorandum of understanding to import buses.

EghtesadOnline: Owing to the fact that most municipalities, including that of Tehran, are struggling with a hefty credit crunch, Shahr Bank has invested 100 trillion rials ($2.5 billion) to support the development of subways in the country, especially in Tehran, the head of Transportation and Civil Affairs Commission of Tehran City Council announced.