Economy

Al-Monitor – Having access to working capital is considered the most basic requirement of manufacturers in Iran. Under normal circumstances, industry generally obtains liquidity from four main sources: financial institutions, the National Development Fund, the capital market and, ultimately, credit lines and foreign investment. Accessing capital is becoming more vital, but also more difficult in the presence of barriers imposed by Washington’s …

Radiofarda – The latest official figures from China show that its trade with Iran suffered a substantial drop in the first five months of 2019, compared with the same period last year. Trade figures published by China’s customs on June 17 show Iran’s exports, including crude oil, declined 46.6 percent totaling $7.17 billion. China’s exports to Iran also declined by …

VOA – The United States and more than 30 other nations belonging to a group that seeks to protect the global financial system have agreed to toughen their supervision of Iran’s financial institutions. In a statement released Friday after a meeting of the Financial Action Task Force (FATF) in Orlando, Fla., the 36 governments plus the Gulf Cooperation Council and European Commission said they …

Radiofarda – Iran imports Russian equipment and agricultural products in exchange for crude oil it had already sold to Moscow, Russian Energy Minister Aleksandr Novak said on Tuesday, June 18, in Tehran. Novak arrived in Tehran Monday to hold talks with the Iranian Oil Minister, Bijan Namdar Zangeneh. The Islamic Republic state-run monopolized TV&Radio news agency (IRIB) cited Namdar Zanganeh …

Radiofarda – Iran’s gross domestic product, including oil production, shrank 4.9 percent in fiscal year 2018-19 compared with the year before, according to the latest report by Statistical Center of Iran’s (SCI). Based on the report, published on SCI’s website on June 16, Iran’s overall GDP figure stood at 7,130 trillion rials ($52 billion at current market exchange rates) for …

VOA – Iran says its economy fell into a worse recession last year than international organizations expected, as the United States began re-imposing tough sanctions on Tehran’s vital oil industry and other financial sectors. In a report published Sunday, the Statistical Center of Iran said Iranian gross domestic product contracted by 4.9% in the last Persian year that ended on March …

Al-Monitor – It is becoming increasingly vital in Iran, with its economy squeezed by US sanctions, to strike a semblance of financial stability. With that in mind, the Central Bank of Iran (CBI) has in recent months started implementing a series of measures in the country’s payment systems to better manage the monetary and foreign currency markets. The new measures, …

worldview –Since the 1979 Islamic Revolution, Iran’s banking sector has languished as Tehran has politicized its central bank and monetary policy far more than almost any other country in the world. U.S. sanctions are putting tremendous pressure on Iran’s extremely fragile financial system by sending Iran into a period of stagnant economic growth accompanied by high inflation. President Hassan Rouhani …

Al-Monitor – Experts agree that the promotion of knowledge-based startups would be a suitable remedy to address the intensifying unemployment in Iran. In fact, with youth unemployment at 27.5%, the Iranian authorities need to look for opportunities to create jobs for the country’s young, educated and tech-savvy population. While in recent years a considerable growth has been recorded in information technology (IT) …

Reuters – Iran has been racing to step up exports of petrochemicals and tap new markets to compensate for sliding oil sales, Iranian and international industry sources said, but now risks losing that crucial revenue as Washington tightens the screw on sanctions.FILE PHOTO: A man counts Iranian rials at a currency exchange shop, before the start of the U.S. sanctions …