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Titanic’s replica to be moored on the Qi River of China

China’s Seven Star Energy Investment Group plans to pump up about USD 170mn into creating a life-sized replica of the infamous Titanic ship, which encountered the most well-known maritime disaster ever. The purpose of the ship is to act as

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AfghanMade Carpet Design Competition winners announced at Domotex Hannover

Winners of the 2014 Carpet Design Awards (CDA) were announced on Sunday at the Domotex Hannover ceremony. From 11 to 14 January 2014, the international carpeting and flooring trade presents itself on the Hannover Exhibition Grounds. The Domotex is the

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400 Afghan women complete vocational courses in Kandahar

Women’s Affairs Department in southern Kandahar province trained 400 women in tailoring, embroidery, curtain making, beautician and bead making in 2013. In an interview with Pajhwok Afghan News (PAN), Department’s economic section head Lailuma Noori said the trainings were provided

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Afghan government awards AGMC license to develop copper deposit

Afghan Gold & Minerals Company (AGMC) has won the license to develop a big copper deposit in the northwestern Afghanistan. The company was named preferred bidder for the Balkhab copper exploration license, one of the three gold and copper exploration

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Investment in Afghanistan soars to USD 762mn in 2013: AISA

According to Afghanistan Investment Support Agency (AISA), investment in Afghanistan stood at USD 762mn during the year 2013, indicating a 25% increase. In 2012, around USD 605 million was invested in various sectors of Afghanistan. AISA Chief Wafiullah Iftikhar said

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Sher Khan Port revenue increases by 130mn AFN

Sher Khan Port, situated next to Panj River in northeastern Kunduz province near the border with Tajikistan, has generated 730mn AFN worth of revenue this solar year, showing a 130 million AFN increase from last year’s revenue. Addressing a news

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World Bank grants USD 50mn to support Afghanistan Access to Finance Project

Afghanistan’s Ministry of Finance today signed a USD 50 million grant to support the government’s efforts to improve access to credit for micro, small and medium enterprises through the Afghanistan Access to Finance Project. Under the Afghanistan Access to Finance

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New building constructed for medicine department of Al-Beroni University

Work on the construction of a three-story building for medicine department of Al-Beroni University in Kapisa province has been completed. The building consists of 42 rooms and is built at a cost of USD 2.5mn, funded by the Afghan Ministry

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Afghanistan one of the candidates for 2013 FIFA Fair Play Award

The Fédération Internationale de Football Association (FIFA) has nominated the Afghan Football Federation (AFF) for the 2013 Fair Play Award. “Afghanistan, on the basis of the achievements gained in football over the year 2013, has now been nominated for 2013

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Afghanistan central bank dismisses SIGAR's report regarding possible banking crisis

Da Afghanistan Bank (DAB), Afghanistan’ central bank, rejects reports by the Special Inspector General for Afghanistan Reconstruction (SIGAR) that has warned of a possible banking crisis to loom. According to the report, DAB lacks the required ability to regulate commercial

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Afghanistan central bank dismisses SIGAR’s report regarding possible banking crisis

Da Afghanistan Bank (DAB), Afghanistan’ central bank, rejects reports by the Special Inspector General for Afghanistan Reconstruction (SIGAR) that has warned of a possible banking crisis to loom. According to the report, DAB lacks the required ability to regulate commercial

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Pakistan payments against exports to Afghanistan to be in US dollar only

Pakistan’s Finance Minister Ishaq Dar recently announced that payments against exports to Pakistan to be made in US dollar only. This comes as Khyber-Pakhtunkhwa Chamber of Commerce and Industries urged the government to take steps for removal of impediments in

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Number of factories in Kandahar industrial park reaches 86

Kandahar’s industrial park now consists of 86 factories after 5 new factories were inaugurated on Thursday. Costing USD 1.5mn, the factories will produce cotton, plastic tools, PVC pipes and other goods. Other factories operating in Kandahar’s industrial park produce soaps,

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A possible banking crisis to arise from Afghanistan's central bank: SIGAR warns

According to a recent report by the Special Inspector General for Afghanistan Reconstruction (SIGAR), a corruption watchdog, Afghanistan’s central bank, Da Afghanistan Bank (DAB), lacks the required ability to regulate commercial banks. DAB is responsible for controlling license issuance and

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A possible banking crisis to arise from Afghanistan’s central bank: SIGAR warns

According to a recent report by the Special Inspector General for Afghanistan Reconstruction (SIGAR), a corruption watchdog, Afghanistan’s central bank, Da Afghanistan Bank (DAB), lacks the required ability to regulate commercial banks. DAB is responsible for controlling license issuance and

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Decline in petrol, sugar prices in Kabul market

(Pajhwok Afghan News Weekly Price Report) The prices of petrol, sugar and oil decreased during the outgoing week in the central capital Kabul, retailers said on Thursday. The price of a 50-kilogram bag of Pakistani sugar fell from 1,550 AFN

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Afghanistan mining revenue declines by 40%

Afghanistan generated USD 50mn in revenue during the current solar year compared with last year’s over USD 90 million, indicating a 40% decline. In an exclusive interview with Pajhwok Afghan News (PAN), Deputy Mines Minister Ahmad Durrani said the decline

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Fruits worth USD 59mn exported from Kandahar

As many as 53 tons of fresh and dried fruits worth USD 59mn have been exported from southern Kandahar province to foreign countries this year, compared with last year’s 46 tons of exports worth USD 56mn. The 30 percent increase

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Mansur Faqiryar to establish professional football club in Afghanistan

Afghan goal keeper and winner of the North Athlete of the Year Award in Germany, Mansur Faqiryar, plans to set up a football club in Afghanistan in an attempt to provide professional training to children and youths passionate about football.

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Stalemate facing the new mines law angers Afghan officials

A number of officials have expressed anger at the impasse in new mining laws that are still pending at the Lower House for approval. The draft laws were submitted to the Lower House for ratification over eight months ago. Economic

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Paktia residents allege corruption in education department

Residents are infuriated by the endemic corruption in education department of Paktia. They alleged that presence of graft has prevented proper construction of playgrounds at four different schools: Abdul Hai Gardezi, Shari Nawan, Khwaja Hassan and Babrak Khan. According to

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Afghan goalkeeper wins the North Athlete of the Year Award in Germany

Afghan national football team’s goalkeeper, Mansur Faqiryar, received the best North Athlete of the Year Award in Germany. Faqiyar was nominated for the award for his outstanding performance in VfB Oldenburg football division. Based on a poll conducted by Germany’s

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52 projects implemented in Takhar

As many as 52 projects were executed in Takhar province in 2013 at a total cost of USD 13mn. The projects were jointly funded by the Ministry of Water and energy and donor organizations including Germany Development (GIZ), Agha Khan

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Afghan government to impose 50% extra tax duty on tobacco imports

A majority of the lawmakers voted in favor of the Tobacco Control Act that calls for imposing 50% extra duties on tobacco imports and charging fines to those found selling tobacco to children. The Act further bans smoking in public

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Afghan government fails to meets its revenue target

Afghanistan failed to meets its revenue target of 123 billion AFN in 2013 by 20% as the economy began to dwindle ahead of foreign troops withdrawal. “There was tension created by the media and investors held back, which brought some

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