Latest News
Over $50 million damages incurred so far in massive border crossing fire
The enormous fire that destroyed more than 500 trucks at the Islam Qala port facility in Herat province, along the border with Iran, has left business owners reeling as financial losses are estimated to be over $50 million.
The massive fire burned for over 24 hours after a fuel tanker reportedly exploded at midday on Saturday.
Explosions continued for hours and two very large ones, just after 1 pm local time on Saturday, were seen from space, NASA reported.
The fire quickly spread through the facility destroying trucks and Herat officials, who were unable to bring the fire under control, eventually appealed to Iran for help.
Iranian firefighters managed to extinguish the blaze on Sunday afternoon, sources confirmed.
Health officials meanwhile said that at least 50 people who sustained burn wounds were transferred to hospitals in Iran.
The cause of the fire has not yet been established but officials said an investigating team has been assigned to the case.
Business owners however blasted the government on Sunday and said corruption among customs officials, the lack of standard regulations around vehicle checks, long border crossing processes and lack of facilities at the land port was of serious concern.
Younus Qazizada, the head of the Herat Chamber of Commerce and Industries, said the fire had caused millions of dollars in damage. “Preliminary investigations show that more than $50 million of damage has been caused by the fire so far,” he said.
The Islam Qala border crossing is around 120km west of the city of Herat and is a major transit route between Afghanistan and Iran.
The US allows Afghanistan to import fuel and oil from Iran as part of a special concession that exempts Kabul from US sanctions against Iran.
Latest News
Doha process private sector meeting highlights growth and coordination in Afghanistan
The session was divided into two segments, focusing on growth and inclusion in the first part, and coordination and transparency in the second.
The 3rd session of the Doha Process Private Sector Working Group was held both in-person and online at Kabul’s Grand Hotel, hosted by the United Nations Assistance Mission in Afghanistan (UNAMA).
The meeting brought together representatives from the Islamic Emirate of Afghanistan, including the Ministries of Foreign Affairs, Finance, Industry and Commerce, Economy, Labor and Social Affairs, and the Central Bank, alongside UNAMA, UN agencies, international and regional organizations, as well as ambassadors, diplomats, and private sector experts.
The session was divided into two segments, focusing on growth and inclusion in the first part, and coordination and transparency in the second.
Afghanistan’s Islamic Emirate representatives shared achievements and progress since assuming governance, while participants acknowledged these efforts and highlighted their ongoing support for the private sector. All parties offered recommendations to address challenges and emphasized enhanced cooperation moving forward.
International Sports
IPL 2026: Franchise sales gather pace as global investors circle teams
Royal Challengers Bengaluru (RCB) has been put on the market by its current owner and is estimated to be worth up to $2 billion.
Developments off the field are drawing growing attention ahead of the 2026 Indian Premier League season, with two franchises — Royal Challengers Bengaluru and Rajasthan Royals — formally up for sale and attracting interest from high-profile domestic and international investors.
Royal Challengers Bengaluru (RCB), one of the league’s most recognisable teams, has been put on the market by its current owner, Diageo’s United Spirits Ltd, following a strategic review. The sale process is expected to be completed by the end of March 2026. Market estimates suggest the franchise could be valued at around $2 billion, reflecting the soaring commercial value of the IPL.
Several bidders have been shortlisted for RCB, including investment groups led by Indian industrialists, private equity firms and overseas sports owners. Among those reported to have shown interest is a consortium linked to the Glazer family, co-owners of English Premier League club Manchester United. Non-binding bids have already been submitted, with binding offers expected in the coming weeks.
Rajasthan Royals (RR), winners of the inaugural IPL title in 2008, are also in the process of being sold. A shortlist of potential buyers has been finalised, featuring a mix of Indian and international investors, including private equity firms, entrepreneurs and media-linked groups. The franchise is expected to attract a valuation of more than $1 billion, according to market estimates.
Final bids for Rajasthan Royals are anticipated in early March, while the RCB transaction is expected to move into its final phase later this month. Any change in ownership will require approval from the Board of Control for Cricket in India (BCCI).
The potential sales mark one of the most significant ownership shake-ups in IPL history and underline the league’s growing appeal as a global sports investment as preparations continue for the 2026 season.
Latest News
FM Muttaqi meets Uzbek Central Asia Institute Chief, stresses stronger bilateral cooperation
During the meeting, the two sides discussed ways to further strengthen political and economic cooperation, as well as key regional issues.
Afghanistan’s Minister of Foreign Affairs, Amir Khan Muttaqi, has met with a delegation led by Joulan Vakhabov, head of Uzbekistan’s International Institute of Central Asia and adviser to the country’s deputy president.
During the meeting, the two sides discussed ways to further strengthen political and economic cooperation, as well as key regional issues.
Muttaqi said Uzbekistan has adopted a positive and goodwill-based policy toward Afghanistan, expressing hope that bilateral relations and cooperation would continue to expand.
He also underscored the important role of research institutions in promoting mutual understanding, enhancing cooperation, and developing a realistic assessment of regional dynamics.
For his part, Vakhabov praised the progress and stability in Afghanistan and voiced optimism that trade between the two countries would increase further in the current year.
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