KABUL: The Taliban warned Turkey on Tuesday against possible plans to keep some troops in Afghanistan to run and guard Kabul’s main airport after the withdrawal of foreign troops, calling the strategy “reprehensible” and warning of “consequences.”
Ankara, which has offered to run and guard the airport in the capital after NATO’s withdraws, has been in talks with allies, namely the United States, on aspects of financial, political and logistical support.
“The Islamic Emirate of Afghanistan condemns this reprehensible decision,” the militant group said in a statement.
“If Turkish officials fail to reconsider their decision and continue the occupation of our country, the Islamic Emirate... will take a stand against them.”
In that case, it added, the responsibility for consequences would fall on the shoulders of those who interfere.
The Taliban, emboldened by the departure of foreign forces by a September target, are making a fresh push to surround cities and gain territory.
Clashes were continuing in the southern province of Kandahar, said Attaullah Atta, a provincial council member, with the Taliban being pushed back after a bid to break into a city prison.
Hundreds of families had fled the violence, he added.
Mohammad Daoud Farhad, director of Kandahar’s provincial hospital, said it had received eight dead and more than 30 people, mostly civilians, wounded in clashes in the past 24 hours.
Early on Tuesday, Afghan security forces had retreated from the district of Alingar in the eastern province of Laghman, a local government official said on condition of anonymity.
A cease-fire pact with the Taliban in the district fell through in May.
On Monday, the Taliban circled the central city of Ghazni and made attacks overnight in their latest offensive on a provincial capital, a local security official said, only to be pushed back by Afghan forces. (Reporting by Afghanistan and Turkey bureaux; Editing by Clarence Fernandez)
Taliban warn of ‘consequences’ if Turkey runs Kabul airport
https://arab.news/g9a25
Taliban warn of ‘consequences’ if Turkey runs Kabul airport
Ancient spring festival kicks off in Pakistan’s Chitral, drawing crowds with traditional music and dance
- Chilm Josht festival is celebrated by the Kalash people, often described as pagan due to their religious practices
- The annual event is integral to the identity of the Kalash community and the continuity of its ancient traditions
PESHAWAR: The Khyber Pakhtunkhwa (KP) Tourism Authority on Tuesday announced the beginning of a popular cultural festival in Pakistan’s northwestern Chitral region, saying the event had attracted large numbers of foreign and local tourists like in the past.
The Chilm Josht festival is celebrated by the Kalash people, who are often described as pagan due to their religious beliefs and practices involving the worship of multiple gods and spirits, to mark the arrival of spring and celebrate the bounty of nature.
Known for music, dance, and colorful clothes, the festival is also associated with the preparation for new crops, symbolizing hope and prosperity for the community.
“The ancient Kalash festival ‘Chilm Josht’ has kicked off in full swing,” the KP tourism authority said in a statement. “Young women of Kalash danced to the beat of drums while wearing intricately embroidered garments, enhancing the colors of the festival.”
The statement added that district administration officials, members of the Kalash Development Authority and a large number of domestic and foreign tourists were also attending the festivity.
“The district administration has arranged foolproof security for the festival,” it added. “Tourism police are also providing services for the guidance of tourists.”
Chilm Josht is said to be the oldest festival of the Kalash tribe. It involves various rituals, the most well-known being the one where people dance with walnut branches in hand.
The festival will last for three days in the area known for its rugged terrain and scenic beauty. The annual event is considered integral to the identity of the indigenous Kalash community and the continuity of its ancient traditions.
GCC bank’s profitability to remain strong in 2024 due to delay in US Fed’s rate cut
RIYADH: A delay in interest rate cuts by the US Federal Reserve will see Gulf Cooperation Council banks’ profitability remain strong in 2024, according to S&P Global Ratings.
This comes as most GCC central banks typically mirror the Fed’s rate movements to preserve their currency pegs.
In a statement, the US credit rating agency revealed that it also expects asset quality to remain robust despite the prolonged high interest rates, thanks to supportive economies, contained leverage, and a high level of precautionary reserves.
“We anticipate a slight deterioration in profitability in 2025, as the Fed could start cutting rates in December 2024, and most GCC central banks are likely to follow suit to preserve their currency pegs,” the statement said.
“However, we believe that several factors will mitigate the overall effect,” it added.
Moreover, S&P disclosed that every 100-basis point drop in rates cuts an average of around 9 percent off the region’s banks’ bottom lines.
This is based on the GCC banks’ December 2023 disclosures and assumes a fixed balance sheet and a parallel shift in the yield curve.
Pakistan shares hit fresh record on rate cut hopes, IMF talks
- Pakistan last month completed a short-term, $3 billion IMF program, seeking fresh, longer-term bailout
- IMF mission is in Pakistan to discuss financial year 2025 budget, policies, reforms under potential new program
Pakistan’s benchmark share index touched a lifetime high on Wednesday, breaching the key level of 75,000, on hopes that easing inflation could pave the way for interest rate cuts as early as June.
Still attractive stock valuations, expectations of more foreign inflows, and the start of talks with the IMF on a new loan program added to the bullish sentiment.
The index was trading at 75,013 points at 0531 GMT, up 0.7 percent, after hitting an intraday high of 75,115. It has surged 80 percent over the past year, and it is up 16.1 percent year-to-date after an IMF rescue last summer helped the government avert a debt default.
On Monday, the index closed at a record of 73,822, up 1 percent.
Mohammed Sohail, CEO of Topline Securities, said Wednesday’s gains were fueled by foreign fund buying.
On Tuesday, the MSCI index added a Pakistani bank, National Bank of Pakistan, to the MSCI frontier market index. Its shares rose 1.6 percent on Wednesday, outperforming the benchmark index.
“We estimate Pakistan’s weight will also increase, thereby having the potential to attract more passive foreign funds,” said Sohail.
The market is picking up steam due to an anticipated decline in inflation to 13.5 percent for May and expectations of a monetary easing cycle starting in June, said Shahid Habib, CEO of Arif Habib Limited.
Investors were also optimism about discussions on a new International Monetary Fund financing program and the economic roadmap ahead, Habib said.
Pakistan last month completed a short-term, $3 billion IMF program, but the government of Prime Minister Shehbaz Sharif has stressed the need for a fresh, longer-term program.
An IMF mission is in Pakistan to discuss the financial year 2025 budget, policies, and reforms under a potential new program.
Wall Street bank Citi expects Pakistan to reach a four-year agreement with the IMF worth up to $8 billion by end-July, and recommends going long on the country’s 2027 international bond.
Global conference in Riyadh spotlights procurement and supply chain challenges
RIYADH: Key issues concerning procurement and supply chains will take center stage at a global conference in the Saudi capital, featuring over 35 international speakers.
The upcoming CIPS MENA Conference and Excellence in Procurement Awards, slated to be hosted by the Government Expenditure and Projects Efficiency Authority on May 16 at the Hilton Riyadh Hotel and Residences, reflects the Kingdom’s position as a hub of expertise in procurement and supply chains, according to the Saudi Press Agency.
The agenda will address critical topics, including building sustainable supply chains, enhancing local content, and promoting industry localization. It will also tackle current supply chain challenges and discuss the digital transformation in procurement and corruption in public procurement.
The conference will also focus on building partnerships between organizations in the private sector and government agencies, targeting specialists in the field of procurement and supply chains in the public and the private sectors, decision-makers in the field, and procurement technical systems companies.
EU urges Israel to end Rafah military operation ‘immediately’
- EU statement: ‘Further disrupting the distribution of humanitarian aid in Gaza and is leading to more internal displacement, exposure to famine and human suffering’
BRUSSELS: The European Union on Wednesday urged Israel to end its military operation in Gaza’s Rafah “immediately,” warning that failure to do so would undermine ties with the bloc.
“Should Israel continue its military operation in Rafah, it would inevitably put a heavy strain on the EU’s relationship with Israel,” said the statement issued in the EU’s name by its foreign policy chief Josep Borrell.
“The European Union urges Israel to end its military operation in Rafah immediately,” the statement said, warning it was “further disrupting the distribution of humanitarian aid in Gaza and is leading to more internal displacement, exposure to famine and human suffering.”
The bloc — the main aid donor for the Palestinian territories and Israel’s biggest trading partner — said more than a million people in and around Rafah had been ordered by Israel to flee the area to other zones the UN says cannot be considered safe.
“While the EU recognizes Israel’s right to defend itself, Israel must do so in line with International Humanitarian Law and provide safety to civilians,” it said.
The law requires Israel to allow in humanitarian aid, the statement stressed.
The EU also condemned a Hamas attack on the Kerem Shalom border crossing which blocked humanitarian relief supplies.
“We call on all parties to redouble their efforts to achieve an immediate ceasefire and the unconditional release of all hostages held by Hamas,” it said.
Israel’s military operations in Gaza were launched in retaliation for Hamas’s October 7 attack on Israeli which killed more than 1,170 people, mostly civilians, and saw around 250 hostages taken, according to an AFP tally of Israeli official figures.
Israel’s military has conducted a relentless bombardment from the air and a ground offensive inside Gaza that has killed more than 35,000, mostly civilians, according to the Gaza health ministry.
Israel’s main allies, the United States and the EU, as well as the United Nations, have all warned Israel against a major operation in Rafah given that it would add to the civilian toll.
