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Logar to soon meet its electricity needs

A USD 62mn project, provided from the development budget of the Ministry of Water and Energy, is granted to a private company to supply electricity to central Logar province. The survey of the site would get under way next week,

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Afghanistan caps US dollar outflow to Iran

With Iranian Rial plunging, Afghan authorities have imposed a limit of USD 1,000 travelers can take out of Afghanistan to Iran. Rial has lost 1/3 of its value against the US in the past week, resulting in clashes between Iranian

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Fuel prices double in Bamyan

Fuel prices in the central province of Bamyan have doubled after the government shut down two coal mines in the area. The price of per seven kilograms of coal has increased from 30 AFN to 70 AFN, and per seven

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New Kabul Bank bidding process set in motion

As per the decision of the Cabinet on privatizing Kabul Bank, Afghanistan’s central bank in collaboration with the Ministry of Finance set in motion the bidding process for the New Kabul Bank. Both Afghan and foreign investors will take part

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India opens more sectors to foreign investment

In a bid to revive the economy, the Indian cabinet has approved 49% foreign direct investment in insurance companies and opened the pension sector for the first time ever to foreign investors. The citizens responded to the reforms with protests

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“Spain does not need a bailout at all”

Rumors have it that Spain will very soon ask for a bailout, as it seems unable to get itself out of its financial difficulty that has hit it since 2008, when global financial crisis cause a big crash in the

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“No Afghan teacher would be homeless in the next two years”

The World Bank is assisting Afghanistan’s Ministry of Education with their development programs for the next 5 years, said the Ministry’s officials. Meanwhile, Education’s minister Dr. Farooq Wardak said that distribution of residential plots of lands to the teachers is

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