Hyundai offers wage raise to South Korean workers

After a series of strikes from workers at the South Korean Hyundai Motor firm, workers at Hyundai Motor have voted in favor of a wage deal. The firm had offered to raise basic wage by 5%, pay a one-time bonus

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New Cashmere Processing Facility in Herat Will Boost Underdeveloped Sector

The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance arm of the World Bank Group, is bolstering foreign direct investment into Afghanistan by insuring a cashmere scouring and disinfection facility in Herat. The MIGA-supported project will boost a nascent

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New school building established in Takhar

A new building for a school in Warsaj district of Takhar has been established to provide better learning environment for the students. Previously, the students of this school were taught under tents. “The new two-story building consists of 8 classrooms

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A connecting road to be constructed in Panjshir province

Afghan Public Works Ministry reported that a connecting road would be constructed in Panjshir province, connecting several villages to the main highways. Estimated to cost about 13 million AFN, the project would be funded from the Ministry’s budget. Director of

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Delay in the approval of Investment Law hampers Afghan economy

The Ministry of Mines (MoM) have expressed concerns over the delay in the approval of the Investment Laws that is yet to be studied by the Parliament. Spokesperson to MoM, Rafi Rafiq Sediqi, said the Investment Laws have not been

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Indian company to execute power project in Afghanistan

Afghan Ministry of Energy and Water (MEW) signed a contract with an Indian company, Gammon India, for a power project that would benefit over 7,000 families. The project involves transferring of 20KW electricity from Mazar-e -Sharif to Balkh province through

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A 21 km road to be graveled in Samangan province

A 21-km road, connecting Khuram Sarbaagh district with Do Aab district of Samangan, is being graveled by the Ministry of Public Works. Head of Public Works in Samangan, Eng. Zia Humayun, said the 6m wide road would help resolve the

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Chinese company pulls out of the Iran-Pak gas pipeline project

A Chinese company, which had offered USD 500mn to fund the Iran-Pakistan gas pipeline, has backed out, leaving Pakistan to knock on Iran’s door for further funding. This comes after Pakistani government expressed its unwillingness to extend the bid validity

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Afghanistan storms into the SAFF Cup final after 1-0 victory against Nepal

The Afghan National Football Team narrowly beat Nepal 1-0 in the semi-final match of the 2013 South Asian Football Federation (SAFF) Cup on Sunday night. After its harrowing victory against the tournament hosts, Afghanistan will face-off against the winner of

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Afghan Ministry of Public Health repudiates SIGAR’s corruption allegations

The Ministry of Public Health has refuted all the charges lodged against them in the report by the Special Inspector General for Afghanistan Reconstruction (SIGAR). SIGAR in a recent report said the financial audit of the ministry was marked with

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Joint Afghan-Spanish school to open soon in Kabul

A joint Afghan-Spanish private primary school building has been inaugurated in Omid Sabz area of western Kabul. Loi Serat Soo, representative of the cultural Spanish organization Spanish Kid Runner,  said the school would open in March 2014 and would enroll

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10 Quotes All Entrepreneurs Should Memorize

  “What does not destroy me, makes me stronger.” – Friedrich Nietzsche, 1844-1900 “Great works are performed not by strength but by perseverance.” Samuel Johnson 1709-84. “Sweet are the uses of adversity.” – William Shakespeare, 1564-1616 “When it’s darkest, men see the stars.” –

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Salma dam to be completed in 9 months: Afghan Ministry of Energy and Water

During his visit to Salma Dam in Herat province, Energy and Water Minister Mohammad Ismail Khan said work on the project would be completed in the next 9 months. He said more than 75% of the project has been completed

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EU lifts sanctions on a number of Iranian companies

The EU’s General Court in Luxemburg lifted the sanctions imposed on seven Iranian companies by the US, ruling that there wasn’t sufficient evidence to justify the embargoes. The move has drawn the ire of the United States government, who have

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Import of second-hand goods weakens Afghanistan’s manufacturing industry

The Afghan Chamber of Commerce and Industries (ACCI) urged the government to check on the import of sub-standard goods that have flooded Afghan market and as a result hurting Afghan economy. According to the Chamber, over two billion dollars worth

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SIGAR concerned about aid management in Afghan Public Health Ministry

The Special Inspector General for Afghanistan Reconstruction (SIGAR) has expressed concerns about the aid management in Afghan Public Health Ministry. This comes after a new sum of USD 200mn has been allocated by the United States Agency for International Development

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Fake economic data a serious problem for Chinese policymakers

There have long been doubts about the quality of Chinese economic data, until finally the Chinese government has admitted it. China’s National Bureau of Statistics has said that a county government in Yunnan province “faked” economic data by inflating the

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Afghanistan finishes 0-0 draw against Maldives in SAFF Cup

The Afghan National Football Team finished a 0-0 draw against the Maldives on Friday, but is still set to face-off in the semi-finals of the SAFF Cup with hosts Nepal at the Dashrath Stadium on Sunday. The Maldives had the

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World Economic Crisis has not been resolved, says Putin at the G20 Summit

Russia’s President Vladimir Putin warned world leaders at the G20 Summit that economic risks remained. “Our main task is returning the global economy towards steady and balanced growth. This task has unfortunately not been resolved. Systemic risks, the conditions for

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Fuel price up, gold down in Kabul

(Pajhwok Afghan News Weekly Price Report) Prices of gold declined and of fuel jumped during the outgoing week in Kabul, where daily-use commodities stayed stable, retailers said on Thursday. One gram of Arabian gold declined from 2,200 afghanis to 2,150

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World Bank grants USD 50mn for economic growth and fiscal sustainability in Afghanistan

A USD 50 million grant, to finance to the Government of Afghanistan’s efforts for promoting economic growth and fiscal sustainability, was signed today between the Ministry of Finance and the World Bank. The grant is being provided by the International

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Safi Airways adds two new aircrafts to its fleet

In a bid to expand its services, Safi Airways have added two planes in the company’s fleet. According to the officials, the planes would be introduced on the Islamabad-Dubai route. The Afghan government and the Afghanistan Chamber of Commerce and

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Contract for Kabul’s largest-ever residential scheme signed

The USD 1bn contract for New Kabul City plan was signed between New Kabul City Independent Board and an international consortium, led by an American corporation with partners from Canada, the United Arab Emirates (UAE), Australia, Germany and Afghanistan. The

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Afghanistan reactivates International Road Transport operations

As of 4 September 2013, international road transport operations under TIR will resume, to, from and across Afghanistan, after more than 30 years of interruption. This welcome development will considerably boost regional trade and economic development by opening up global

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Afghanistan’s economy since 2002

According to a report by BBC, Afghanistan has witnessed a 70% increase in its Gross Domestic Product (GDP) since 2002. The GDP has increased from USD 3bn in 2002 to USD 20bn in 2012. The central bank’s foreign exchange reserves

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