Business
Absence of sports to cost $12 billion to US – COVID19 economic impact
As per the expert analysis, the sudden vanishing of sports due to the Coronavirus will cost at least $12 billion loss.
ESPN says, in an analytical report, that the sudden disappearance of sports will erase at least $12 billion in revenue and hundreds of thousands of jobs in the United States sports industry.
The $12 billion loss will derive from the shutdown of professional and college sports alone, the study estimates.
The scale of devastation is coming into view at all layers, be it stadium authorities, youth sports complexes, rec centers, and/or global TV networks.
According to the analysis, some organizations, especially at the lower levels of sports, say they’ll be lucky to survive.
The low-wage service workers who support pro and college sports and are now unemployed take most of the hit.
The tax revenue that helps support local services such as police and firefighters and contributes to the quality of everyday life, will also take the loss which will eventually affect the aforementioned services communities.
Patrick Rishe, who directs the sports business program at Washington University, said: “As an economist, you stand back, you look at the carnage that’s taking place – dumbfounded, awestruck, mind-numbing.”
He added, “All of those phrases, they’re all relevant because we just have never seen anything on this scale.”
Business
Iran-Afghanistan joint chamber of commerce delegation arrives in Kabul to boost trade ties
The delegation will participate in Afghanistan’s National and International Industry and Mines Exhibition and hold business meetings.
A delegation from the Iran-Afghanistan Joint Chamber of Commerce has arrived in Kabul to take part in an international exhibition, according to the Iranian Embassy in Afghanistan.
In a statement posted on its X account on Thursday, the embassy said the delegation will participate in Afghanistan’s National and International Industry and Mines Exhibition and hold business meetings and conferences with Afghan officials.
The embassy added that the visit aims to expand trade relations between Afghanistan and Iran and strengthen economic cooperation between the two neighboring countries.
The Afghanistan National and International Industry and Mines Exhibition opened in Kabul on Wednesday, June 29, 2026, bringing together domestic and foreign participants to showcase opportunities in industry, mining, and commerce.
Afghanistan and Iran share long-standing economic relations, with trade cooperation continuing despite ongoing regional political and financial challenges.
Business
Afghanistan eyes direct Basmati rice imports from India amid tensions with Pakistan
Afghanistan is exploring direct imports of Basmati rice from India as it seeks to diversify its supply sources amid ongoing tensions with Pakistan, according to a report by The Hindu.
The report said Indian exporters and Afghan importers are expected to meet next month to discuss expanding direct trade in Basmati rice, following preliminary talks between officials from both countries held last week with the facilitation of the PHD Chamber of Commerce and Industry.
Afghanistan consumes nearly 500,000 tonnes of Basmati rice annually and has traditionally relied on imports from neighboring Pakistan. However, industry sources told The Hindu that recent strains in Afghanistan-Pakistan relations have encouraged Kabul to seek alternative suppliers, including India.
Representatives of Afghanistan’s diplomatic mission in New Delhi reportedly took part in the discussions and expressed interest in increasing purchases of Indian Basmati rice. At present, some Indian rice reaches Afghanistan indirectly through traders in Iran and Dubai, a route that adds to transportation and transaction costs.
One proposal under consideration is to transport rice through Iran’s Bandar Abbas Port, subject to agreements between the two governments. The discussions are also expected to cover logistics, payment mechanisms, and the possibility of barter trade, with Afghanistan’s dried fruit exports to India seen as a potential component of future trade arrangements.
According to The Hindu, a direct trade arrangement could help India expand its share of Afghanistan’s Basmati market, which has historically been dominated by Pakistani suppliers.
Business
Afghanistan, Kyrgyzstan establish trade council to boost economic cooperation
The two sides signed a memorandum of understanding to establish the Afghanistan-Kyrgyzstan Trade Council.
The Embassy of the Islamic Emirate of Afghanistan in Kyrgyzstan says the Afghanistan-Kyrgyzstan Business Forum has been held with the participation of officials from both countries.
According to a statement issued by the embassy, Acting Ambassador Abdul Shakoor Haqqani said Afghanistan supports strengthening bilateral trade relations and promoting joint economic initiatives between the two countries.
The statement added that the two sides signed a memorandum of understanding to establish the Afghanistan-Kyrgyzstan Trade Council. The council aims to strengthen ties between business communities, coordinate joint initiatives, and expand and support economic projects.
Meanwhile, Sayed Karim Hashemi, Chairman of the Afghanistan Chamber of Commerce and Investment, arrived in Kyrgyzstan on Saturday at the head of a trade delegation to participate in the forum.
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