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Afghanistan to issue Computerized ID Cards

A contract on computerizing ID cards in Afghanistan, which was signed between the Ministry of Telecommunication and Information Technology and JTR in December 2010, is going to kick off on December 30 of this year, with President Karzai receiving the

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Difficult for Afghan Legislation to Ban Big Budget Wedding

Afghans, whose annual income do not exceed USD 400, have resumed holding up high wedding costs since the fall of the Taliban in 2011. As per request of the groom’s family who has to bear the burden of high cost

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Four people sentenced to death in Iran bank scandal

Iran saw its history’s biggest bank scandal, exposed last year, in which USD 2.6bn loan was embezzled in Sedarat Bank of Iran. The scandal comes amid the time when Iran is hit by sanctions and soaring inflation. The trial began

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European Banks hit by Eurozone Crisis

European lender UBS and Deutsche Bank blamed the economic downturn in Europe and the US for lower profits. UBS made $425m Swiss francs ($434m; £276m) compared with 1bn francs a year earlier, down 58%. UBS also said it had suffered

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Ghor Province to See its First Ever Recreational Park

Funded by the United States International Development Agency , the work on the recreational park in western Ghor Province was launched Monday. The park, with a one square kilometer area, would include a green area, basketball and volleyball courts, shops

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US poor planning of reconstruction projects in Afghanistan

A report to US Congress says that the millions of dollars spent on Afghanistan’s reconstructions projects may have been mostly wasted, given the poor conditions of the built infrastructure. The report also found that several construction projects were so far

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Ministry of Telecommunications to solve the Issue of Unregistered SIM Cards

Afghanistan’s Telecommunication Ministry announced to proceed legally against selling of unregistered SIM cards. Deputy Head of Office of Telecommunication Services Regulation Khair Mohammad Faizi said in a press conference on Sunday that the Ministry of Telecommunication has installed a mechanism

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Cigarette Taxes to Spike Up in Afghanistan

The National Security Council instructed the Ministry of Finance in a meeting at the Presidential Office to increase cigarette taxes. The Council called for higher cigarette taxes to prevent unchecked imports of cigarette into the country. Low custom duties on

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Traffic Signals Launched in Kandahar City

The installation of electric traffic signals was launched in Kandahar City on Sunday as part of a joint plant of the traffic department and the municipality. The signals were first installed at the Eidgah Gate four months ago and would

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Ariana Airline Collapsed Due to High Government Officials

Ariana Afghan Airlines chief Nasir Hakimi claimed before the Parliament’s Economic Commission that high-ranking government officials used to travel in flights of other lines instead of the national flag carrier, as a result of which the airline collapsed. The airline

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Turkmenistan plans to attract investors for the TAPI Project

Turkmenistan’s government says they are making efforts to attract foreign investors for extending a new gas pipeline project that will connect Central Asia with South Asia. Some analysts are skeptical of the TAPI (Turkmenistan, Afghanistan, Pakistan and India) pipeline project

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Afghan Government making effort to promote insurance culture

Ministry of Mines hosted a one day conference on introducing insurance to the employees of the ministry. Afghan Insurance Commissioner Fazl Bari Mumtaz has undertaken the task of spreading knowledge of insurance, starting within the government offices. According to Mr.

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Economics of Crime- Is Crime Rational?

IT HAS been a bumper summer for corporate fines and settlements. In the past three months alone firms in Britain and America have agreed to pay out over $10 billion because of wrongdoing. But the economics of crime suggests that

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US To Increase Assistance For Reconstruction Process In Daikundi

US Embassy officials gave their commitment to continuing their contribution towards the reconstruction process in Daikundi. The financial assistance would mostly be allocated towards improvement of health facilities, schools and roads, which Governor of Daikundi province Qurban Ali Urozgani stated

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Eurozone Crisis Negative Effects on Afghan Aid

Italy and Spain, two of the Eurozone countries who are majorly involved in the development and rebuilding process of Afghanistan, are cutting back their aid due to the debt crises widening at home. Italy scaled back its aid to Afghanistan

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US economy growing at a slow pace

The US economy grew at an annualized rate of 1.5% in the second quarter. The figure could have been worse. Some analysts were predicting even lower growth in the second quarter. The slowdown is reflective of a weak consumer spending.

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Spanish Economy Needs Further Reforms- Says IMF

The International Monetary Fund forecast the Spanish economy to shrink by 1.7% this year and 1.2% next year, before growing by 0.9% in 2014. The Fund has said that Spain’s outlook remains “very difficult” with “significant downside risks”. Spanish unemployment

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Afghan traders are skeptical of scales on the highways

Afghanistan Chamber of Commerce and Industries (ACCI) officials are skeptical of the scales installed on the large highways of Afghanistan, claiming that employees who weigh the vehicles obtain extra money from the merchants. The officials also say that in most

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Mazar-e-Sharif workers faced with Ramadan’s higher expenses

Daily-waged orkers in Mazar-e-Sharif are having a hard time to find jobs in the city in northern Balkh province and are unable to earn enough money to meet the expenses of their households. With less construction projects during the month

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ECB ready to do “whatever it takes” to support the Euro- Mario Draghi

Speaking at a conference in London marking the start of the Olympics, the president of ECB Mario Draghi announced a strong message of support to the Euro, saying “within our madnate, the ECB is ready to do whatever it takes

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Chinese industries’ earnings dipping for the third successive month

After seeing a decline of 5.3% in May and 2.2% in April, profits at China’s industrial companies dropped by 1.7% for the third successive month. China, the world’s second largest economy, is experiencing its slowest economic growth in three years

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Gold, fuel prices down in Kabul

Gold and fuel prices declined in Kabul during the outgoing week. A liter of petrol was at 57afs compared to its last week’s price of 58 afs. Diesel rate decreased from 57afs to 56afs, while liquefied gas stayed stable at

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Investigation on Former Head of Pashtanay Bank was non-transparent and unjust

After Hayatullah Dayani, the former head of Pashtanay Bank, was sentenced to 20 years in prison for embezzlement and corruption, his defense lawyer argued that the trial was not fair. Khalid Ahmad Dayani, brother and deputy attorney to Hayatullah Dayani,

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Herat’s Dry Port Seeing a Boost in its Revenue

The income of Torghondi dry port in western Herat province has increased twofold over the past four months compared to last year’s corresponding period. The high revenue is linked to improved administrative affairs and security in the town that allow

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The former head of Pashtanay Bank Sentenced to 20 years in prison

Hayatuallh Dayani, the former head of Pashtanay Bank, was alleged for embezzlement of USD 26million from 2006-2008 and has now been sentenced to 20 years in prison. Fifteen others who were involved in the fraud case have also been jailed,

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