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Afghanistan, Uzbekistan to sign power transmission contract

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Last Updated on: August 29, 2020

Acting Foreign Minister Mohammad Haneef Atmar and his Uzbek counterpart Abdulaziz Kamilov have agreed on an electricity transmission contract between the two countries, the Ministry of Foreign Affairs said in a statement on Friday.

“The two sides agreed on the signing of a power transmission agreement between Breshna Shirkat and the Uzbek Ministry of Energy, as well as expanding cooperation in trade and transport,” the statement said.

Abdulaziz Kamilov said: “We hope that this historic trip will further enhance political and economic cooperation between the two countries and strengthen our relations in the fields of trade, transport, electricity, and energy.”

According to the statement, the two sides discussed the importance of reconciliation in Afghanistan and the role of Uzbekistan in promoting peace and building regional consensus.

Kamilov emphasized Uzbekistan’s support for an Afghan-led and owned peace process and the position of the Afghan government.

“We hope to see the immediate start of negotiations between the Islamic Republic of Afghanistan and the Taliban,” he added.

Atmar, who headed a high-level Afghan delegation to Tashkent for a two-day official visit, has informed Kamilov about the need for an early start of peace talks, preservation of the Islamic Republic, and the achievements of the past 19 years to ensure a lasting peace.

Atmar assured his Uzbek counterpart that Afghanistan had a strong will to strengthen and expand relations with Uzbekistan.

“We want to improve political, economic, and cultural relations with our friendly neighboring country, Uzbekistan,” Atmar noted.

“In closing, both sides agreed on a roadmap aimed at unifying the views of the leaders of the two countries in order to develop and expand long-term relations,” the statement concluded.

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Afghanistan–China joint market opens in Kabul

In a statement issued on Monday, the ACCI said the newly launched “Afghan–China Market” offers approximately 28,000 varieties of Chinese products, now available to consumers across the capital.

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The Afghanistan Chamber of Commerce and Investment (ACCI) has announced the official opening of a joint Afghanistan–China market in Kabul, established through shared investment by Afghan and Chinese traders.

In a statement issued on Monday, the ACCI said the newly launched “Afghan–China Market” offers approximately 28,000 varieties of Chinese products, now available to consumers across the capital.

Officials overseeing the project said the goods are being sold at competitive prices while meeting quality standards, with the aim of expanding choices for Kabul residents and supporting local traders.

They noted that joint initiatives of this nature can contribute significantly to economic growth, enhance bilateral trade ties between Afghanistan and China, and encourage increased foreign investment.

The launch of the Afghan–China Market aligns with broader efforts to strengthen regional trade cooperation and generate new business and employment opportunities within Afghanistan.

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Gold edges past $4,600/oz as Powell-Trump rift stokes safe-haven demand

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Gold broke through $4,600/ounce for the first time on Monday, while silver also hit a record high, as investors snapped up safe havens due to heightened geopolitical uncertainties and a criminal probe into Federal Reserve Chair Jerome Powell.

Spot gold jumped 1.3% to $4,566.80 per ounce by 0410 GMT. Bullion hit a record high of $4,600.33 earlier in the day, Reuters reported.

U.S. gold futures for February delivery firmed 1.8% to $4,579.10.

“So, between events in Iran, and potential U.S. involvement, and the (Fed) chair being the focus of a criminal probe… U.S. futures turned lower on the Powell news, which was a green light for gold to take a run higher,” said Tim Waterer, KCM Trade’s chief market analyst.

Unrest in Iran has killed more than 500 people, a rights group said on Sunday, as Tehran threatened to target U.S. military bases if President Donald Trump carries out his renewed threats to strike the country on behalf of protesters.

Iran’s unrest comes as Trump flexes U.S. muscles internationally, having ousted Venezuelan President Nicolas Maduro, and discussing acquiring Greenland by purchase or force.

Powell said on Sunday the Trump administration had threatened him with a criminal indictment over Congressional testimony, an action Powell called a “pretext” aimed at putting further pressure on the central bank to lower rates. This sent the dollar and U.S. equity futures lower.

Investors currently expect at least two Fed rate cuts this year.

Non-yielding assets tend to do well in a low-interest-rate environment and during geopolitical or economic uncertainties.

“I expect that central bank appetite for gold and silver will continue to grow this year, with precious metals perceived as being a lower risk alternative to the dollar,” Waterer said.

Spot silver was up 4.1% at $83.20 per ounce, after hitting an all-time high of $83.96 earlier in the day.

Spot platinum climbed 3.4% to $2,349.59 per ounce after scaling a record high of $2,478.50 on December 29.

Palladium gained 3.4% to $1,877.96 per ounce.

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UN warns only 11% of Afghan returnees have found employment

In a report released on Sunday, the International Organization for Migration (IOM) said many returnees continue to face serious obstacles to resettlement and livelihoods.

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The United Nations has warned that returning to Afghanistan does not guarantee successful reintegration, with new figures showing that only 11 percent of Afghan returnees have been able to find jobs.

In a report released on Sunday, the International Organization for Migration (IOM) said many returnees continue to face serious obstacles to resettlement and livelihoods.

According to the assessment, one in four returnees has been unable to settle in their intended place of residence, while more than half lack essential documentation, severely restricting access to basic services and employment opportunities.

The report found that 25 percent of returnees have been unable to return to their original districts or areas of origin. Economic pressures remain acute, with 56 percent of heads of returnee households reporting they are unable to meet their families’ basic needs.

Employment remains a major challenge. The IOM said 35 percent of heads of returnee households and 36 percent of single returnees have not been able to secure work, raising concerns over long-term stability and sustainable livelihoods for those returning.

The findings come as the Islamic Emirate reports that around 1.8 million Afghan migrants returned to the country in 2025. International organizations, however, warn that without improved access to jobs, documentation and essential services, large-scale returns risk worsening Afghanistan’s already fragile humanitarian and economic situation.

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