Business
Gold surpasses $5,000, yen strengthens on intervention fear
Gold surged past $5,000 per ounce on Monday, buoyed by safety flows amid dollar weakness following a turbulent week where tensions over Greenland and Iran rattled investors, while markets remained on tenterhooks after violent spikes in the yen.
The yen rose over 1% to 153.99 per dollar as of 0427 GMT, after sharp spikes on Friday sparked speculation over potential intervention. The New York Federal Reserve conducted rate checks on Friday, sources told Reuters, raising the chance of joint U.S.-Japan intervention to halt the currency’s slide.
“The market’s inclination is to short the yen but the possibility of co-ordination means it no longer is a one-way bet,” said Prashant Newnaha, senior rates strategist at TD Securities in Singapore.
The prospect of joint intervention to support the yen pulled the dollar lower and broadly lifted other currencies.
Japan’s Nikkei dropped about 2% while S&P 500 futures fell 0.25% and European futures were 0.27% lower as traders awaited the Federal Reserve’s policy meeting later in the week.
U.S. President Donald Trump provided temporary relief to markets last week by reversing tariff threats and downplaying potential forceful action against Greenland. However, further sanctions targeting Iran have reinforced market anxiety.
Increased U.S. pressure against Iran is pushing oil prices higher and lifting safe-haven gold to record peaks. Precious metals, including silver , have surged in a blistering rally so far this year, also aided by a softer dollar.
INTERVENTION CHATTER KEEPS YEN ALOFT
While authorities in Tokyo declined to comment on the yen’s wild swings, sources told Reuters about the rate checks on Friday, leaving traders on edge at the prospect of an intervention that could come any time.
Japanese Prime Minister Sanae Takaichi said on Sunday her government will take necessary steps against speculative market moves.
Carlos Casanova, senior Asia economist at UBP, said the mere expectation of potential intervention could, in itself, contribute to some strengthening of the currency.
“The Japanese yen is likely to stabilise to some extent – though the catalysts for significant appreciation remain limited – while long-term yields are expected to face continued pressure at their current elevated levels.”
A steep bond market rout in Japan last week had put the spotlight on Takaichi’s expansionary fiscal policy as she called a snap election that is due for February 8. The bond market has since calmed somewhat, but investors remain jittery.
The yen was broadly firmer against other currencies too on Monday, inching away from the record low against the euro and Swiss franc and multi-decade lows against sterling.
Charu Chanana, chief investment strategist at Saxo, said the rate-check style warning could help reset positioning and remind the market there’s a line near 159–160.
“With the dollar starting to look softer, this is actually a cleaner window for Japan to lean against yen weakness. Intervention works better when it’s going with the broader USD tide, not fighting it.”
The dollar index , which measures the U.S. currency against six rivals, fell as much as 0.2% to a four-month low of 96.996 after dropping 0.8% on Friday in its biggest one-day drop since August.
Investor focus this week will also be on the Fed. The central bank is expected to hold rates steady at a meeting overshadowed by a Trump administration criminal investigation of Fed Chair Jerome Powell, whose term ends in May.
In commodities, oil prices were little changed after rising about 3% on Friday, with traders weighing the impact of Trump pressuring Iran through more sanctions on vessels that transport its oil.
Brent crude futures were flat at $65.91 a barrel, while U.S. West Texas Intermediate crude stood at $61.1 per barrel.
Business
UAE firm eyes investment in Salang’s second tunnel and pharmaceutical factories
The proposals will be submitted to the Inter-Ministerial Investment Committee for further review and discussion.
A United Arab Emirates-based company, HHM Global Industry Group, has expressed interest in investing in the construction of the second Salang Tunnel and establishing pharmaceutical factories in Afghanistan.
The issue was discussed at a regular meeting of the Inter-Ministerial Investment Committee, held on September 8, 2026, at the Marble Palace under the Economic Deputy Office of the Prime Minister’s Office.
The committee welcomed the company’s interest in investing in Afghanistan and assured its representatives that the relevant ministries and government agencies are prepared to provide comprehensive cooperation.
Following extensive discussions, company officials were asked to prepare detailed investment proposals for the construction of the second Salang Tunnel, pharmaceutical manufacturing facilities, as well as other potential investment projects.
The proposals will be submitted to the Inter-Ministerial Investment Committee for further review and discussion.
If implemented, the proposed investments could contribute to the development of Afghanistan’s transport infrastructure and strengthen domestic pharmaceutical production.
Business
Saudi energy group signs major Afghanistan deals covering gas exploration and pipeline plans
The agreements cover exploration across the Kushk and Tirpul contract area in Herat, spanning approximately 23,317 square kilometers.
Saudi Arabia’s Delta Energy Group has signed a series of agreements with Afghanistan’s Ministry of Mines and Petroleum covering hydrocarbon exploration, natural gas utilization in Herat and a proposed regional gas pipeline.
According to a statement issued by Delta Energy on September 6, the agreements cover exploration across the Kushk and Tirpul contract area in Herat, spanning approximately 23,317 square kilometers.
Under the agreements, Delta Energy will conduct geological and geophysical studies, seismic surveys, exploration drilling and reservoir evaluations to determine the scale and commercial potential of Afghanistan’s hydrocarbon resources.
The company will also finance a study on the utilization of natural gas for Herat Industrial Park, Herat city and other approved areas, including potential applications in industry and power generation.
A separate agreement provides a framework to assess the proposed 700-kilometre CentGas “Corridor of Prosperity” pipeline, which would potentially connect a gas receipt point near Guzara district in Herat with a delivery point near Spin Boldak in Kandahar.
Delta Energy estimates the proposed pipeline could require about $10 billion in investment over 10 years, subject to technical and economic feasibility, financing, regulatory approvals and a final investment decision.
The company said the broader integrated programme could represent tens of billions of dollars in potential investment over the coming years, covering exploration, field development, gas utilization and related infrastructure. However, all subsequent phases will depend on exploration results, commercial viability, financing and required approvals.
Sheikh Badr Mohammed Al-Aiban, chairman of Delta International Holding Group, said the project was more than an oil and gas investment, describing it as an opportunity to develop an integrated energy ecosystem that could create jobs, support industry and improve regional connectivity.
Afghanistan’s Minister of Mines and Petroleum, Hidayatullah Badri, welcomed the agreements, saying cooperation with Delta Energy could help advance exploration of the country’s hydrocarbon resources, strengthen energy security and support economic activity.
Business
Imam Abu Hanifa exhibition to draw exhibitors from more than 20 countries
Representatives from more than 20 countries are expected to attend, including Russia, India, Türkiye and Japan.
The fifth Imam Abu Hanifa National and International Exhibition will be held in Kabul from October 7 to 13, the Afghanistan Chamber of Commerce and Investment (ACCI) says.
Representatives from more than 20 countries are expected to attend, including Russia, India, Türkiye and Japan.
Ahmad Shakil Hazim, ACCI’s Deputy for Policy and Technical Affairs, said the exhibition would give traders, investors and producers an opportunity to showcase their products and expand business ties with international markets.
Economic experts say international trade exhibitions can strengthen commercial relations between Afghan and foreign businesses and help attract investment.
The fourth edition of the exhibition was held in Kabul last year, with officials saying trade agreements and contracts worth more than $700 million were signed between Afghan and foreign traders on the sidelines of the event.
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