Economy

Radiofarda – The latest report from Iran’s Central Bank (CBI) released on Thursday indicates a steep rise in the volume of money supply and increased government borrowing from banks. According to the report, the volume of liquidity has risen to 20,262 trillion rials or $174 billion (free market rate) showing a growth of 28% and 56% in December 2019 compared …

Radiofarda – U.S. Secretary of State, Mike Pompeo has once again urged the Islamic Republic of Iran to ratify the conditions set by Financial Action Task Force (FATF) and respect international laws and regulations against financing terrorism and money laundering. FATF, the Paris-based global financial watchdog issued a four-month deadline in mid-October, giving Tehran a last and final chance to …

Radiofarda – Statistical Center of Iran (SCI) has announced that the country’s Gross National Product (GDP) declined by 7.6 percent in the first 9 months of the current Iranian year compared with the previous year. The period included in the SCI report is from March 21 to December 20, 2019. The GDP declined by 410 trillion rials according to the …

Radiofarda – The Spokesman of Iraq’s Electricity Ministry has said that Iraq is searching for alternatives to generate the electricity it needs, including developing its own natural gas production, because Iran is now exporting only a fraction of the natural gas agreed upon for the current year. Speaking to Al Sabah newspaper, Ahmed al-Abadi said Iran is currently exporting only …

Iran-HRM – The number of women and youth working as porters (or back carriers) has increased dramatically in the Iranian border provinces of Kurdistan, West Azerbaijan, and Kermanshah. This was reported by the state-run Hamshahri daily on January 22. Unemployment crisis in Iran is one of the reasons why women have been dragged into this job. Women have to carry …

radiofarda – Iran’s top diplomat Mohammad Javad Zarif hosted his Omani counterpart Yusuf bin Alawi on Sunday for the second time within a week for talks on security in the sensitive Gulf. Alawi was making the visit to Tehran on the tail end of his trip to the World Economic Forum (WEF) in Davos, Switzerland, which Zarif skipped after scheduling …

Radiofarad – Turkish Trade Minister Ruhsar Pekcan on Thursday said sanctions on Iran, one of Turkey’s major trade partners, have significantly affected Turkey’s exports to the country. However, total Turkish exports in 2019 grew by more than 2% in comparison with the previous year. Speaking to Turkish broadcaster BloombergHT on the sidelines of the 50th World Economic Forum in Davos on …

Radiofarda – The spokesman of Iran’s Anti-Smuggling Task Force, Hamid-Reza Dehghaninia, on Thursday said according to the estimates of several state bodies and the Parliament two-thirds of the home appliances and electronics sold in Iran last year were smuggled goods. Dehghaninia said the value of home appliances and home electronics sold in the country during the said period (March 21 …

RFL/RE – The United States has imposed economic sanctions on four energy firms that it accuses of helping to move oil exports for the Quds Force of Iran’s elite Islamic Revolutionary Guards Corps (IRGC). The sanctions announced on January 23 come three weeks after U.S. forces killed the commander of the Quds Force, Major General Qasem Soleimani, in a targeted …

Radiofarda – A member of Iran’s Expediency Council on Wednesday said the Council’s deadline for endorsing the CFT (Combating the Financing of Terrorism) bill has ended and the bill should be considered as rejected. The endorsement and finalization of the bill would allow Iran to join the UN conventions against money laundering and funding terrorism. The Financial Action Task Force …