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Qosh Tepa Canal in Balkh to be rerouted to protect heritage sites

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The National Development Corporation (NDC) said on Monday that it will change the route of the Qosh Tepa Canal in northern Balkh province in order to protect historical structures situated between Kaldar and Dawlat Abad districts.

The National Development Corporation estimated that changing the canal’s route will cost an additional three million Afghanis.

NDC officials added that the first phase of the Qosh Tepa Canal will be finished in the next six months.

“The construction work of the Qosh Tepa Canal is underway in 120 locations and nearly 5,900 people are working on the project,” said NDC.

Meanwhile, Jawzjan residents said that once established, the canal will be of enormous benefit to farmers, and will boost the local economy.

The Qosh Tepa Canal is one of Afghanistan’s major projects and once complete, farmers will be able to increase crops including wheat and grain – with the aim being to eventually enable the country to be self-sufficient.

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Acting Minister of Economy meets with Afghan businessmen abroad

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Qari Din Mohammad Haneef, Acting Minister Economy, has met with a number of Afghan businessmen and experts living in Germany, France, Italy, Britain, Canada and the United States.

In a recent meeting, the economic and social situation of the country was discussed.

The Afghan businessmen and experts expressed their satisfaction with the security situation and considered the economic programs of the IEA important in improving the economic situation.

The Acting Minister of Economy, explaining the opportunities and facilities available to attract investment in various sectors, called on all Afghan businessmen living abroad to use these opportunities and invest within the country in order to improve the economic situation and create job opportunities.

 

 

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Gold bolts past $3,200 on dollar slide, safe-haven flows

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Gold prices breached the key $3,200/oz level for the first time on Friday, fuelled by a weaker dollar and an escalating trade war that sent investors rushing toward safe-haven assets.

Spot gold was up 1.4% at $3,217.78 an ounce as of 0350 GMT. Bullion scaled an all-time peak of $3,219.84 earlier in the session, and has gained almost 6% this week, Reuters reported.

U.S. gold futures climbed 1.9% to $3,237.50.

“The rapid weakening of the U.S. dollar seems to be the main driver of gold’s rebound at the moment. That seems to reflect an ongoing exodus from USD-based assets, with stocks and bonds’ selloff amid tariff policy uncertainty,” said Ilya Spivak, head of global macro at Tastylive.

The dollar was down nearly 1% against its major peers, making greenback-priced bullion cheaper for overseas buyers.

Major stock indexes also fell after U.S. President Donald Trump ratcheted up tariffs on Chinese imports to 145%, but hit a 90-day pause on previously announced tariffs for dozens of countries.

China has been matching Trump’s tariff hikes, sparking fears that Beijing could push duties on the U.S. beyond the current 84%.

“$3,500 is the next round number people will be looking at. I suspect we won’t get there immediately or without bumps along the way,” Capital.com’s financial market analyst Kyle Rodda said.

Apart from tariffs, central bank demand, expectations of interest rate cuts by the Federal Reserve, geopolitical instability in the Middle East and Europe, and increased flows into gold-backed exchange-traded funds also fuelled the metal’s rally this year.

U.S. consumer prices fell unexpectedly in March but inflation risks are tilted to the upside, data showed.

Traders now bet that the Fed will resume cutting rates in June and probably reduce by a full percentage point by the end of 2025.

Spot silver added 0.3% to $31.29 an ounce, while platinum dipped 0.1% to $936.85. Palladium gained 0.8% to $916.18.

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Russia, Uzbekistan to draft feasibility study for Trans-Afghan Railway project

A discussion session will be held within the framework of the Russia-Islamic World Forum in Kazan in May, bringing together key stakeholders

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Russia and Uzbekistan design organizations will work together this year to conduct the Trans-Afghan Railway project’s feasibility study, Trend news agency reported. 

According to a statement issued by Russia’s Ministry of Transport on Tuesday, Russian and Uzbek designers “will ensure the preparation of sections of the feasibility study for the project to build the Trans-Afghan Railway along the agreed routes, including in terms of determining the forecast for freight traffic volumes and economic efficiency.”

The ministry said two routes have been identified. These are: Mazar-e-Sharif – Herat – Dilaram – Kandahar – Chaman; and the other is Termez – Naibabad – Logar – Kharlachi.

The statement noted that the first session to discuss the project will be held within the framework of the Russia-Islamic World Forum in Kazan in May. A delegation from Afghanistan will attend, along with representatives from Pakistan Railways. 

 

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