Iranian economy

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Iran’s Cabinet passes monetary reform motion

Iranian President Hassan Rouhani’s cabinet on Wednesday approved a motion put forward by the Central Bank of Iran (CBI) to change the national currency from rial to toman, leading to a ten-fold decrease in banknote denomination...

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Iran establishes relations with foreign banks

Iran has established correspondent relations with 230 foreign banks since January 16, 2016, the vice governor of Central Bank of Iran for foreign exchange affairs, Gholamali Kamyab, said. He noted that Iranian …

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Iran among 15 countries with rich mineral resources

Speaking in a local gathering, Mohammad-Taqi Korei said Iran enjoys more that one percent of global mineral resources while accessing to one percent of the world's land areas.  'At least 32 out of 42 natural hazards, …

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Rouhani hopes for 5% economic growth

Iranian President Hassan Rouhani has expressed hope that the country will register a 5% economic growth over the current Iranian calendar year (starting March 20). “I hope that by the end of the current (Iranian) …

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Iran FM to visit Switzerland on June 1

Iran's Foreign Minister Mohammad Javad Zarif will visit Switzerland on June 1, the Swiss Ambassador to Tehran Giulio Haas wrote today on his Facebook page. He noted Zarif will lead an economic …

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IMF calls for plan of action on Iran’s economy

David Lipton, first deputy managing director of the International Monetary Fund (IMF), has called for a plan of action aimed at reforming Iran's economy, Trend reports. "I suggest that while Iran will gain from …

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Iranian banks cut annual interest rate

Iranian banks have agreed to reduce the annual interest rate by 2% to 18%,  thus the daily interest rate will fall below 10%. It is worth noting that in recent years the interest rate in Iran has grown,  as …

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Ali Tayyebnia expects Iranian GDP to grow by 8%

Iranian Economy Minister Ali Tayyebnia predicts that Iran's GDP will grow by 8% in the next fiscal year, which begins on March 21, 2016. "We hope to achieve inflation-adjusted growth of 8%," the head of …

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Iran to receive $5 billion loan

The credit insurance company Euler Hermes will open a credit line worth $5 billion to Iran, which will be paid in two or three years, Iranian Deputy Minister of Economy Mohammad Khazaei said. The Iranian …

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D-Day for Iran

December 17th could be a turning point in the modern history of Iran and the entire region of the Greater Caucasus and the Middle East

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The railway range

The main railway line along the Caspian shore may become the first and the most important infrastructural project to be implemented in the past couple of years

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