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India to build Shahtoot dam in Kabul

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Last Updated on: November 26, 2020

India’s External Affairs Minister S. Jaishankar announced on Tuesday at the Geneva Conference 2020 that his country will build a new dam to provide Kabul residents with safe drinking water.

Addressing delegates virtually, Jaishankar said the Shahtoot dam will help supply Kabul residents with water.

“I am happy to announce today an agreement with Afghanistan for building the Shahtoot dam which will provide safe drinking water to two million Kabul residents.

He also said India will launch phase four of a high impact community development program in Afghanistan, which includes around 150 projects worth $80 million dollars.

He stated India has invested heavily in peace and development in Afghanistan but said his country calls for an immediate and comprehensive ceasefire.

“We also believe that the peace process must be Afghan-led, Afghan-owned and Afghan-controlled.”

A feasibility study for the dam was reportedly finalized in 2012 and the estimated cost will be around $236 million.

This dam would also allow for irrigation systems to cover 4,000 hectares of land in the Charasiab and Khairabad districts of Kabul province.

Once complete, officials said the dam will hold 146 million cubic meters of potable water for two million people in Kabul and irrigation water for over 4,000 hectares of land.

India has played a major role in the reconstruction of Afghanistan since the fall of the Taliban regime and has invested over $2 billion in various reconstruction and infrastructure projects.

In 2016, Ghani and Indian Prime Minister inaugurated the Indian-funded “Friendship Dam” in Heart Province, which can also irrigate over 80,000 hectares of land and provide electricity to thousands of homes in the western Afghan province of Herat.

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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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