Iran marks milestone by sending oil to terminal on Sea of Oman

The Goureh-Jask oil pipeline is about to carry 1 million barrels per day (bpd) of crude from Iran�s West Karun oil fields to the southeastern coast on the Sea of Oman. Iran has started sending oil to a new terminal on the Sea of Oman through a pipeline that bypasses the Strait of Hormuz, Chief Executive...

Cryptocurrencies lose nearly $280 BILLION in value after bitcoin drops below $40,000

Bitcoin fell sharply to below $39,000 on Wednesday, its lowest level since February, as news of further restrictions on cryptocurrency transactions in China sparked another major selloff. The world�s number one digital asset bounced back to just above $40,000 as of 8am GMT, but was still trading 11%...

BLM co-founder blasts �white supremacy� in housing market after $3 million property spending spree

FILE PHOTO: Co-founder of the Black Lives Matter movement, Patrisse Cullors, attending the 90th Academy Awards in Hollywood, California, March 4, 2018 © Reuters / Carlo Allegri A co-founder of Black Lives Matter, Patrisse Cullors, has highlighted the "history of racism inside of the housing market,"...

Gates left Microsoft board amid probe into prior relationship with staffer: WSJ

Microsoft founder Bill Gates (AFP photo) Bill Gates quit the Microsoft Corp. board in 2020 over an inappropriate relationship with a female employee, the Wall Street Journal reported Sunday. The board members pressured Gates to step down as they began an investigation in 2019 after a female engineer...

US Budget deficit hits record $1.9 trillion in current fiscal year

File photo of US Secretary of the Treasury Janet Yellen The US budget deficit has hit a record $1.9 trillion just in the first seven months of the current fiscal year, according to the Treasury Department�s monthly budget report. It marks nearly a three-percent increase compared to the same time...

EU court scorns German firm over Iran contract

EU legal advisor criticizes German company Telekom Deutschland for termination of contract with Iranian bank. An opinion provided by the European Union�s top court to German judges says that termination of a contract involving Bank Melli Iran by a major German company over fears of US sanctions was...

Russia denies any link to cyberattack on US fuel pipeline

Fuel tanks are seen at Colonial Pipeline Baltimore Delivery in Baltimore, Maryland, the US, on May 10, 2021. (Photo by AFP) Russia has denied involvement in a cyberattack that led to the shutdown of the biggest US fuel pipeline operated by the Colonial Pipeline Company. "Russia has nothing to do...

US gas prices head for highest in years as hacked key pipeline shut

US gas shortages have led to fears of spiking prices. (Photo by Getty) US gas prices could soon be headed for the highest level since 2014 due to a cyberattack that crippled the country�s biggest fuel pipeline system, according to the American Automobile Association (AAA). Average US pump prices...

UK house price growth hits five-year high in April: Halifax

Houses are seen painted in various colours in a residential street in London, Britain, May 15, 2019. (Reuters photo) British house prices increased last month at the fastest annual rate for five years, helped by finance minister Rishi Sunak�s extension of tax cut for buyers, mortgage lender Halifax...

US Southeast to see fuel price hikes after pipeline shutdown: Experts

Sold out gas pumps are shown at a station ahead of the arrival of Hurricane Dorian in Pompano Beach, Florida, US August 30, 2019. (Reuters photo) The southeastern United States will be the first to experience price hikes at the pumps because of the supply disruption following a cyberattack that shut...

Afghanistan resumes export of talc stone from Nangarhar

Afghanistan has resumed the export of talc stone from a key mine in the country�s eastern province of Nangarhar, the Ministry of Industry and Commerce said on Sunday. The ministry said in a statement that the process of exporting talc stone resumed recently. "In the last two months, thousands of...

Parliament rejects draft budget for second time

Members of the Wolesi Jirga (Lower House of Parliament) have rejected the proposed budget for the new fiscal year 1400 for the second time. MPs said the second draft budget is also unbalanced and still does not address the issue of equal pay for government employees. MPs said they will not approve...

Imported Power from Uzbekistan Increases to 400MW

The imported power from Uzbekistan has increased to 400 megawatts from 300 megawatts, the country�s power distributor, Da Afghanistan Breshna Sherkat (DABS), announced Monday, quelling complaints from Kabul residents who have been faced with an electricity shortage over the last few weeks. DABS said...

DABS working to increase power load from Uzbekistan

Afghanistan�s power utility company Da Afghanistan Breshna Sherkat (DABS) said efforts are underway to normalize the transmission of electricity imported from Uzbekistan and to increase this supply to more than 450 megawatts. DABS announced on Saturday that Uzbekistan�s electricity imports have been...

Bitcoin Tops $41,000, Setting New All-Time Record

Earlier this week, the cryptocurrency�s value hit $38,000, $39,000 and $40,000, each time breaking historical records. Bitcoin has crossed the $41,000 mark for the first time, the CoinMarketCap reported. According to the price-tracking website for crypto assets, bitcoin has gained 10.36% since Thursday,...

Afghan, Iran local officials sign trade agreement

Iranian media reported that two provinces of Afghanistan and Iran on Thursday signed an agreement covering the energy, transportation, customs, production, and investment sectors. The agreement signed during the fourth meeting of the Joint Economic Committee of Khorasan Razavi Province and Herat Province...

Oil gains with supply constraints in focus after Saudi cuts

An oil rig (File photo) Oil prices rose on Thursday after a fall in US stockpiles added further support following the unilateral decision by Saudi Arabia to cut output over the next two months. Brent crude was up 20 cents, or 0.4%, at $54.50 a barrel at 0925 GMT. US West Texas Intermediate (WTI) gained...

Nearly 4,000 financial firms in UK could fail due to COVID: Regulator

Canary Wharf business district in London, the UK (File photo) Nearly 4,000 financial companies in the UK are facing "heightened risk" of collapsing because of the coronavirus pandemic and its fallout, according to the Financial Conduct Authority (FCA). The FCA has surveyed 23,000 financial firms to...

US considering banning investments in Alibaba, Tencent by Americans

This taken on February 5, 2020 shows a security personnel walking in front of the Alibaba headquarters in Hangzhou, some 175 kilometres (110 miles) southwest of Shanghai. (AFP photo) The administration of outgoing US President Donald Trump is contemplating adding Alibaba Group Holding Ltd. and Tencent...

US imposes new tariffs on French, German products in Airbus-Boeing spat

France�s President Emmanuel Macron and Germany�s Chancellor Angela Merkel look at US President Donald Trump at the NATO leaders summit in Watford, Britain December 4, 2019. (Reuters photo) The United States plans to impose more tariffs on French and German products amid a 16-year US-EU dispute over...

Afghan parliament rejects next year�s budget

The Afghan parliament (Wolesi Jirga) on Wednesday rejected the new fiscal year�s budget due to "serious problems" which they said hinged on the disproportionate allocation of money including to emergency codes. MPs stated the allocation of 13 billion AFN to one emergency kitty, without stipulating...

Pakistan, Afghanistan Hold Trade Talks

Pakistan and Afghanistan on Monday kicked off high level talks in Islamabad to revise current transit trade relations and look into the possibility of a preferential trade agreement and a plan to establish border markets to facilitate bilateral trade, officials and diplomats told Xinhua news agency. Afghanistan...

World Bank to Stop Funds Pending Access to Afghan Banking Data

The World Bank in a letter to President Ghani on Nov 23 stated that it will stop $200 million aid to Afghanistan "till banking sector data is shared." "I would like to alert you, however, to two important issues that remain to be resolved and may impact our capacity to disburse the full amount of...

India draws rebuke from Beijing over ban on more Chinese apps

TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken Nov. 27, 2019.(Reuters photo) China has criticized India after it banned dozens more Chinese apps amid the already strained relations between the world�s most populous countries. The Indian government...

Saffron flower harvesting process underway in Helmand

In order to promote saffron cultivation in Helmand province, the Ministry of Agriculture, Irrigation and Livestock (MAIL) set up 12 model farms in the province last year and farmers are now harvesting their "gold". "Saffron cultivation in Helmand has been successful, I hope it grows [throughout] Helmand...

Iran finds deposit with 8 million tonnes of gold reserves

This photo shows Bazman mountains in Sistan and Baluchestan where gold reserves have reportedly been discovered. Iran has made a gold discovery in southeast Sistan and Baluchestan province, where definite reserves of 8 tonnes of the precious metal have been found, a provincial official says. "The discovered...

Asian, European stocks sink as virus, stimulus sour mood

A man looks at an electronic board showing a stock price of K-pop management agency Big Hit Entertainment after the company�s initial public offering ceremony at the lobby of the Korea Exchange in Seoul on October 15, 2020. (AFP photo) Concerns about the reimposition of virus lockdowns, stalled vaccine...

Citi to pay $400 million OCC fine over risk management issues

Citigroup Inc. will pay a $400 million fine over deficiencies tied to its risk management and internal controls, the Office of the Comptroller of the Currency said in a Wednesday statement. The OCC also said Citigroup must seek the regulator�s "non-objection before making significant new acquisitions,"...

ADB Approves $110M Grant to Enhance Afghan Power Supply

The Asian Development Bank (ADB) on Wednesday approved a $110 million grant to boost the power supply and strengthen Afghanistan�s energy sector by improving its sustainability and promoting cross-border trade in energy, read an ADB statement. According to the statement, the project will help address...

18 million tourism jobs at risk in EU

Throughout the summer, this was a familiar site; those in the hospitality sector, standing around waiting for customers. The EU�s tourism industry, which accounts for 10% of the bloc�s entire economic output or GDP, has been decimated by the coronavirus. The crisis has been debated in the European...