Business
Stocks dive, oil jumps above $100 as Russia invades Ukraine
Oil prices broke above $100 a barrel for the first time since 2014, stock markets slumped and the Russian rouble hit a record low on Thursday after Russian President Vladimir Putin launched an invasion of Ukraine.
Markets displayed all the predictable reactions. Europe’s main stock markets opened 2.5%-4% lower and benchmark government bonds, the dollar, Swiss franc, Japanese yen and gold all rallied in a move to safety, Reuters reported.
Putin said he had authorized what he called a special military operation and the Ukraine government accused Moscow of launching a full-scale invasion.
The rouble weakened nearly 7% to an unprecedented 86.98 per dollar and there were 10% plus falls on the Moscow stock exchange when it opened after an initial suspension.
The dollar index was up 0.5%, in the currency markets, Reuters reported.
Brent crude futures jumped more than 3.5% to shoot past $100 a barrel for the first time since September 2014.
West Texas Intermediate rose 4.6% to $96.22 per barrel, its highest since August 2014, while gold jumped more than 1.7% to hit its highest level since early January 2021.
Business
Afghanistan-Kazakhstan banking ties discussed in Kabul meeting
Business
Afghanistan, Kazakhstan envoys discuss expanding trade and regional connectivity
Ambassador Shakeeb thanked Kazakhstan for its continued support and constructive engagement with Afghanistan, particularly in efforts aimed at peace and economic development.
Afghanistan’s Ambassador to Pakistan, Sardar Ahmad Shakeeb, has met with Kazakhstan’s Ambassador to Pakistan, Yerzhan Kistafin, to explore ways to strengthen bilateral relations and advance regional cooperation.
The two envoys exchanged views on Afghanistan–Kazakhstan ties, regional connectivity, and major infrastructure initiatives, as well as the opportunities and challenges facing regional trade. Discussions also touched on Kazakhstan’s role in promoting regional stability and other matters of mutual interest.
Ambassador Shakeeb thanked Kazakhstan for its continued support and constructive engagement with Afghanistan, particularly in efforts aimed at peace and economic development.
He expressed hope that the proposed $3 billion joint trade agreement, once finalized, would bring tangible benefits to both countries and contribute to broader regional economic integration.
Ambassador Kistafin reaffirmed Kazakhstan’s support for stability and economic growth in Afghanistan, highlighting his country’s involvement in key regional connectivity and trade projects.
He said the current security and stability situation in Afghanistan has increased Kazakhstan’s confidence in expanding regional trade and transit, and praised the efforts of the Islamic Emirate in this regard.
He also stressed the need for coordinated regional efforts to ensure lasting stability, sustainable economic development, and the smooth movement of goods and transit across the region.
Business
Mahirood Customs leads Iran’s exports to Afghanistan
More than 1.5 million tonnes of goods were exported to Afghanistan through the border crossing during this period.
Mahirood Customs in South Khorasan province has become Iran’s main export gateway to Afghanistan, accounting for 36 percent of the country’s total exports to its eastern neighbor, Iranian officials said.
South Khorasan Governor Seyed Mohammadreza Hashemi told local media that Mahirood ranked first among Iran’s 71 active customs points during the first eight months of the current Iranian year.
More than 1.5 million tonnes of goods were exported to Afghanistan through the border crossing during this period.
Official customs figures show that Iran’s total exports to Afghanistan exceeded 4.26 million tonnes in the first eight months of the year, with Mahirood handling the largest share, Hashemi said.
He attributed the strong performance to South Khorasan’s strategic location, improved border infrastructure, effective planning, close cooperation with traders, and coordinated efforts by government agencies.
Hashemi said the expansion of exports via Mahirood Customs is contributing to economic growth, job creation, and stronger economic diplomacy for the province.
He added that continued support for exporters and streamlined customs procedures could further increase South Khorasan’s share of the Afghan market and other target markets in the future.
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