Connect with us

Business

MoU of road construction of Farah signed

Published

 on

(Last Updated On: February 17, 2016)

vlcsnap-2016-02-17-19h11m05s226

The memorandum of understanding of the road construction with the length of 12, 8 kilo meter in Anar Dara district of Farah province has been signed in between the Afghanistan Ministry of Public interests and Japan official in Kabul.

Afghan officials are optimistic over the road construction saying it will boost the economy of the area and the residents living along side of the road.

Minister of Public interests Mahmood Balegh said,” we will not allow anyone to interfere within the project,the following road will develop the economy for the residents of the areas.”

Mr. Balegh has also demanded the residents of the Anardara district to be cooperative in implementation of the project.

“We will try to resolve the people problems from different channels but the cooperation of the residents within the areas is so important and vital Ministry of Public interests Mahmood Balegh said.”

The road construction costs 370 million Afghani,the construction phase will being next month.

Advertisement

Business

Saudi Arabia may raise Nov official crude prices for Asia

Published

on

(Last Updated On: October 3, 2022)

Top oil exporter Saudi Arabia may raise prices for most crude grades it sells to Asia in November on expectations for demand recovery and Chinese refineries to increase output following the issuance of new product export quotas.

The November official selling prices (OSP) for flagship Arab Light crude may rise by 25 cents a barrel, according to the median of the responses of five refining sources surveyed by Reuters on Sept. 29-30.

“Oil demand is expected to improve, which we can see from current market structure,” said one respondent.

The backwardation in the Dubai market structure widened during trading last month, implying that demand for crude in the near-term is rising. The premium for front-month Dubai over the price for the third-month averaged $5.36 a barrel in September, up from $5.07 in August.

The market also expects China, the world’s biggest crude importer, to increase purchases as Beijing has issued a fresh round of refined product export quotas, totalling 15 million tonnes. That could encourage Chinese refineries to lift their crude buying to ramp up fuel output.

Refining margins for gasoline and diesel plunged on China’s new export quotas as a flood of refined products would knock down the prices of the products.

“That’s a reason why we forecast the official prices for lighter crude grades to only see a small hike,” said another respondent.

The respondents polled by Reuters assess the price increase for Arab Medium and Arab Heavy to be larger than Arab Light, as the refining margins, also known as cracks, for fuel oil are performing better than the light- and middle-distillate products , .

China issued 1.75 million tonnes of export quotas for low-sulphur fuel oil, compared to 13.25 million tonnes for other products in the recent round.

OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) during their monthly meeting this week, in what would be the biggest move yet since the COVID-19 pandemic to address oil market weakness.

Benchmark oil prices have fallen by more than 30% since March.

Saudi crude OSPs are around the fifth of each month, and set the trend for Iranian, Kuwaiti and Iraqi prices, affecting more than 9 million barrels per day (bpd) of crude bound for Asia.

Saudi Aramco sets its crude prices based on recommendations from customers and after calculating the change in the value of its oil over the past month, based on yields and product prices.

Saudi Aramco officials as a matter of policy do not comment on the kingdom’s monthly OSPs.

Continue Reading

Business

Pakistani minister: Promotion of trade, regional peace are priorities

Published

on

(Last Updated On: October 3, 2022)

Pakistan’s Federal Minister for Overseas Pakistanis and Human Resource Development Sajid Hussain Turi said on Saturday that promotion of trade and regional peace remain as priorities of his country.

The official said this while visiting Kharlachi near the Durand Line.

Turi said Kurram valley was rich with natural beauty and it was important not only for tourists and historians, but also for international traders as it connected Pakistan with Kabul and Central Asian states by the shortest, easiest and safest routes through Kharlachi and Borki crossings.

The minister said he had taken up the issue of extension of China-Pakistan Economic Corridor project to Kurram with the concerned authorities. He said it would bring peace and prosperity to the region.

He said that road to the crossing would be paved soon while other issues would also be addressed on priority. He said he had taken up with the railway authorities to restore the rail track up to Tall area so that trade at border could be enhanced.

The minister advised the authorities to support local population’s engagement in the cross-border trade and that maximum employment opportunities should be given to them.

Continue Reading

Business

Pomegranate harvest down in Kandahar

Published

on

(Last Updated On: October 2, 2022)

Pomegranate production has declined by 10 percent in Afghanistan’s southern Kandahar province, local officials said this week.

Drought and floods are said to be the main reasons behind the decline in pomegranate yield in Kandahar this year.

“We have pomegranate trees covering 10,000 hectares of land. Unfortunately, this year’s harvest saw a 10 percent decrease,” said Shams-ur-Rahman Musa, head of agricultural products at Kandahar agriculture department.

Meanwhile, the provincial chamber of commerce said that they have exported 13,134 tons of pomegranate so far this year.

Abdul Baqi Bina, deputy head of Kandahar Chamber of Commerce, said that pomegranate was also being transported to other provinces of the country.

Local farmers also said that drought and floods affected pomegranate production this year, but added that the demand for the fruit remains high in the market.

“Pomegranate harvest has declined this year due to drought. Hopefully it will increase next year,” said Juma Khan, a farmer in Kandahar.

“I request the Islamic Emirate’s authorities to help provide us with pesticides,” said Abdullah Jan, a farmer in Kandahar.

Continue Reading

Trending

Copyright © 2022 Ariana News. All rights reserved!