EghtesadOnline: The Indian Cabinet on Wednesday cleared a double taxation avoidance agreement between India and Iran, which will promote investment flow and curb tax evasion.
EghtesadOnline: The Central Bank of Iran has allowed lenders to issue guarantees for Iranian businesses planning to invest in Oman or those who seek to take out loans from Omani banks, the head of Iran-Oman Chamber of Commerce announced.
EghtesadOnline: Iran’s largest privatization attempt in the current fiscal year (started March 21, 2017) kicked off on March 12 with less than a percent of the offered assets finding buyers.
EghtesadOnline: The Central Bank of Iran is working to fulfill the longstanding pledge of unifying the dual foreign exchange rates, despite recent volatility that unsettled the currency market.
EghtesadOnline: The new directive, which bans the use of the US dollar in import order registrations by Iranian traders, serves the double purpose of sidelining the US dollar and curbing the volatility that gripped the foreign exchange market in recent weeks.
EghtesadOnline: Iran's economy is bedeviled by a series of major issues arising from decades of mismanagement that has made the banking system bear the brunt as the country's predominant financer, although efforts in the last few years have been made to balance things out.
EghtesadOnline: For the first time in almost half a century, 46 years to be precise, the Iranian economy is expected to register a single-digit inflation rate for two years in a row.
EghtesadOnline: In a sample of 25-odd developing countries that make up acronyms like Next-11, MINT, BRICS, ASEAN, BIMSTEC and CIVETS, Iran at 38% had one of the highest savings rate in 2016.
EghtesadOnline: Following the Financial Action Task Force’s latest decision, Iran’s Ministry of Economic Affairs and Finance issued a statement declaring that while it expected better results, the country will continue to take action to improve the situation.
EghtesadOnline: Iran is working to curb its trade ties with the UAE, replacing its traditional hub for trade activities, Dubai, with Doha in Qatar and Muscat in Oman.