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CBI Moves to Sideline USD

EghtesadOnline: As part of the latest measure to ditch the US dollar from the country's transactions, the Central Bank of Iran has removed the American currency from the list of Sanarate.ir, the website reporting the exchange rate of foreign currencies based on exchange bureaux information.
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Publish Date:26/August/2018 | 05:44

Bank Loans Hit €18 Billion in 4 Months

EghtesadOnline: Banks and credit institutions allocated a total of 1.67 quadrillion rials (€17.92 billion) to various sectors of the economy during the first four months of the current fiscal year that ended on July 22, the Central Bank of Iran ’s data show.
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Publish Date:26/August/2018 | 05:38

Iran , Italy Maintain Banking Ties Despite Sanctions

EghtesadOnline: Albeit facing many barriers at a low level, banking ties between Iran and Italy have not been fully severed despite the fact that the first round of US sanctions has snapped back, the president of Iran -Italy Chamber of Commerce said.
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Publish Date:26/August/2018 | 05:36

Europe Looks to Bypass Iran Payment Embargo

EghtesadOnline: Europe should look to bypass US payment systems by creating its own financial channels on the lines of a European monetary fund and international bank transfer system like SWIFT, Germany's foreign minister has said.
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Publish Date:26/August/2018 | 05:31

Amendments to New FX Policy Introduced

EghtesadOnline: New amendments were introduced into Clause V of the government’s new foreign currency policy on imports during a Cabinet meeting held last week.
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Publish Date:26/August/2018 | 05:22

Onion Exports Earn $22m in 4 Months

EghtesadOnline: Iran exported 65,480 tons of onions worth $22.25 million during the first four months of the current fiscal year (March 21-July 22), latest data released by the Islamic Republic of Iran Customs Administration show.
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Publish Date:20/August/2018 | 06:46

Hoarded Goods Worth $40m Confiscated in Tehran

EghtesadOnline: Essential goods worth 3.2 trillion rials (around $40 million) hoarded in nine warehouses of Tehran Province have been confiscated by police over the last week, the commander of Tehran’s Law Enforcement Force said.
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Publish Date:20/August/2018 | 06:44

Iran 's Non-Oil Trade With Japan Exceeds $310m

EghtesadOnline: Iran traded 276,030 tons of non-oil commodities worth $312.41 million with Japan during the first four months of the current fiscal year (March 21-July 22), registering a 40.9% and 13.71% decrease in tonnage and value respectively compared with last year’s corresponding period, latest data released by the Islamic Republic of Iran Customs Administration show.
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Publish Date:20/August/2018 | 06:43

4% Decline in Last Year’s Red Meat Production

EghtesadOnline: A total of 429,000 tons of red meat were produced in Iran ’s officially registered slaughterhouses during the past fiscal year (March 2017-18), registering a 4% decline compared to the year before, the Statistical Center of Iran reported on its website.
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Publish Date:20/August/2018 | 06:42

Press Iron Imported From 9 Countries

EghtesadOnline: More than 1,291 tons of press iron worth $7.34 million were imported into Iran from nine countries during the last Iran ian year (March 2017-18), based on figures released by the Islamic Republic of Iran Customs Administration.
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Publish Date:20/August/2018 | 06:40

Iran : Goods Clearance Eased As Customs Terminals Face Rising Cases of Abandoned Imports

EghtesadOnline: An increasing number of consignments have been piling up at customs terminals of major Iran ian ports, without being claimed by their owners. The issue took center-stage at Saturday’s joint meeting between the representatives of Tehran Chamber of Commerce, Industries, Mines and Agriculture (embodying the private sector) and the government.
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Publish Date:20/August/2018 | 06:39

Home Savings Deposits Cross $2 Billion

EghtesadOnline: Major savings initiatives in Iran aimed at easing home purchase and construction have continued to grow since the current Iran ian year began on March 21.
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Publish Date:20/August/2018 | 04:18

New Foreign Exchange Policy: Exporters’ Savior or Bane?

EghtesadOnline: The new forex policy, announced last week by the Central Bank of Iran , which will partially remove the ceiling for the price of the dollar and allow more freedom for market changes, has sparked a great deal of controversies.
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Publish Date:20/August/2018 | 04:17

Domestic Shoe Industry Hit by Raw Material Shortage

EghtesadOnline: Domestic shoe production has declined by over 70%, the head of Handmade Shoemakers and Sellers Union said, as raw materials needed by the producers have not been cleared from the customs due to foreign currency fluctuations.
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Publish Date:19/August/2018 | 04:34

Non-Oil Trade Value With Egypt Tops 80%

EghtesadOnline: Iran traded 298,616 tons of non-oil commodities worth $128.23 million with Egypt during the first four months of the current fiscal year (March 21-July 22).
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Publish Date:19/August/2018 | 04:33

Infrastructure Gets 10% of National Budget

EghtesadOnline: As little as 10% of the national budget, i.e. less than 400 trillion rials ($4.87 billion), are spent on the development of infrastructures and the rest goes to operational expenditures such as paying salaries of workers.
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Publish Date:19/August/2018 | 04:33

Milk Powder Exports Earn $24 Million

EghtesadOnline: Iran exported 7,238 tons of milk powder worth $24.78 million during the first four months of the current fiscal year (March 21-July 22), latest data released by the Islamic Republic of Iran Customs Administration show.
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Publish Date:19/August/2018 | 04:31

Vacuum Cleaners Imported From 14 Countries

EghtesadOnline: More than $29 million worth of vacuum cleaners were imported into Iran from 14 countries during the last Iran ian year (March 2017-18), data released by the Islamic Republic of Iran Customs Administration show.
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Publish Date:19/August/2018 | 04:31

Tehran to Host Handmade Carpet Expo

EghtesadOnline: The 27th Iran Handmade Carpet Exhibition is scheduled to open at Tehran International Permanent Fairground on August 25.
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Publish Date:19/August/2018 | 04:22