H ead of the Tehran Chamber of Commerce, Industries, Mines and Agriculture again faulted stringent CBI rules that govern the repatriation of export earnings.

In a meeting with chamber members on Tuesday, Masoud Khansari pointed to three flaws with the controversial earnings’ repatriation rules.

Firstly, the rules oblige exporters to bring back earnings within four"...

T he government’s debts to the Social Security Organization, Iran's biggest social insurance company that provides coverage to wage-earners and salaried workers as well as self-employed persons, amounted to 2,944 trillion rials ($11.2 billion) by the end of last fiscal year (March 19, 2020), the Ministry of Cooperatives, Labor and Social Welfare reported.

Although a fraction of the debt had accumulated before the year ending March 2011,"...

A total of 65,000 applicants have opened accounts with designated banks of the government-sponsored “National Housing Initiative” so far and 38,000 of them have made the initial payment of between 300-400 million rials [$1,165-1,554], says an official with Bank Maskan, the state agent bank of the housing sector.

“The construction of a number of residential properties of the National Housing Initiative has started. Bank Maskan will"...

The Zayed Sustainability Prize, the UAE's pioneering global award in sustainability, has announced the postponement of the 2021 Awards Ceremony, which was scheduled to take place in January, as part of the annual Abu Dhabi Sustainability Week (ADSW). Entities that have submitted their applications this year will be automatically moved to the 2022 cycle.

The decision was made due to travel restrictions for different countries and to ensure international"...

TEHRAN- The Majlis (Iranian parliament) disapproves of a plan proposed by the government that is said to bring about an “economic breakthrough” for the country through selling oil bonds, MP Hossein-Ali Haji Deligani told the Tehran Times.

Economic breakthrough should be attained either through submitting the budget amendment bill to the parliament or the pre-selling of oil on the Energy Exchange market in small packages,” the MP"...

TEHRAN- Since starting its job, the new parliament of Iran has announced in different occasions as being ready to confirm comprehensive packages proposed by the private sector to expand economic exchanges during hard times of pandemic, global economic depression and unilateral sanctions.

The parliament has also called on the government, especially the Ministry of Foreign Affairs to strengthen itself in the field of economic diplomacy.

The"...

A new residency law will be introduced that underlines that an expat can acquire a residency visa for up to 5 years and for an expat businessman with a valid project, it is for 10 years.

Among the provisions of the law, a Kuwaiti female citizen must obtain a residency permit for her expat husband and children, provided that none of them work for a governmental or non-governmental entity and under a clause that the Kuwaiti woman did not obtain citizenship"...

T he government has announced that holders of the so-called “Justice Shares” can henceforth trade 60% of their shares. Initially in May it had allowed tradability of only 30%.

Justice Shares are shares of government-owned companies that were given free to the six lowest income deciles almost fifteen years ago. Shareholders were not allowed to sell the shares until last May.

According"...

TEHRAN - Head of Iran’s Planning and Budget Organization (PBO) has said that offering shares of state-owned companies has brought the government 160 trillion rials (over $3.6 billion) in the first four months of the current Iranian calendar year (March 20-July 21).

According to Mohammad-Baqer Nobakht, the mentioned earnings came as the government had foreseen only 119 trillion rials (about $2.83 billion) of capital market revenues for the"...

The Office of the First Deputy Prime Minister (OFDPM) has announced the end of the registration period for the sixth edition of the FDPM Fellowship.

Registration for the sixth edition of the programme took place between 19 July 2020 and 2 August 2020, during which time the programme has attracted a wide variety of talents. All applications will be thoroughly assessed to identify the strongest candidates, who will in turn undergo a rigorous selection"...