People walk on a mostly empty street during a lockdown aimed at curbing the spread of the coronavirus in Kabul. AP
People walk on a mostly empty street during a lockdown aimed at curbing the spread of the coronavirus in Kabul. AP
People walk on a mostly empty street during a lockdown aimed at curbing the spread of the coronavirus in Kabul. AP
People walk on a mostly empty street during a lockdown aimed at curbing the spread of the coronavirus in Kabul. AP

UN Security Council urges Afghan ceasefire


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The UN Security Council urged Afghanistan’s warring parties to heed a call from UN Secretary General Antonio Guterres for an immediate ceasefire to respond to the Covid-19 pandemic and ensure delivery of humanitarian aid throughout the country.

On Tuesday, the council issued a statement after a closed briefing by UN deputy special representative for Afghanistan Ingrid Hayden, who said the country “appears to be reaching a defining moment” over whether its leaders would “engage in meaningful talks with the Taliban to achieve a sustainable peace".

“The choice is made stark by the all-encompassing threat of Covid-19, which poses grave dangers to the health of Afghanistan’s population and, potentially, to the stability of its institutions,” she said.

Afghan President Ashraf Ghani and political opponent Abdullah Abdullah have been locked in a power struggle since last September’s election.

Both declared themselves president and held parallel inauguration ceremonies in early March.

The discord has prompted the Trump administration to say it would cut $1 billion (Dh3.67bn) in assistance to Afghanistan if the men could not work out their differences.

Ms Hayden said “with the onslaught of Covid-19, many donors are likely to turn inwards to meet the needs of their own population".

“Afghanistan needs to demonstrate a compelling case for the continued investment of international resources,” she said.

“Now is not the time for divisions. Now is the time for statesmanship, accommodation and inclusivity.”

The rivalry and political turmoil have impeded each step towards talks between the government and the Taliban, negotiations that were supposed to come next under a peace deal Washington signed with the insurgents in February.

The deal, which has been touted as Afghanistan’s best chance yet of ending the war, calls for the eventual withdrawal of all 13,000 US soldiers from the country in exchange for guarantees from the Taliban that they would fight other militant groups, including ISIS.

The council “called on the political leadership of Afghanistan to put aside their differences and put the interest of the country first".

Council members “commended the presentation of a negotiating team for the upcoming intra-Afghan negotiations, including several women,” and expressed hope that those negotiations would start “without delay, bearing in mind the challenge the Covid-19 situation poses".

Despite last week’s announcement of the negotiating team by Mr Ghani, the Taliban have continued attacks.

The most recent were carried out on Monday in the north and south of the country, killing at least 11 Afghan soldiers and policemen, according to the Afghan Defence Ministry and a provincial official.

The council “condemned the recent heinous terrorist attacks in Afghanistan and stressed the importance of sustained efforts to continue to reduce the violence and to ensure that the territory of Afghanistan will not be used by Al Qaeda, ISIS or other international terrorist groups to threaten or attack any other country".

Mr Guterres called for an immediate global ceasefire on March 23 so the world could respond to the Covid-19 pandemic.

Germany’s deputy UN ambassador, Jurgen Schulz, said the continuing Taliban attacks against security forces went against the February agreement with the US and must stop.

“As the coronavirus crisis has also spread to Afghanistan and we can’t even estimate its true extent there yet, an end to violence is even more urgent,“ he said.

“Afghan refugees are already leaving Iran without the necessary medical facilities to treat them in western Afghanistan.

“The same is likely to happen with Afghan refugees from Pakistan. This is bound to exacerbate the health crisis.“

France’s deputy UN ambassador Anne Gueguen said it was crucial to continue support for the Afghan people who had “been plagued by war, terrorism, poverty, and now a pandemic".

She said humanitarian aid was crucial, especially to help Afghans deal with “the risk of the spread of the Covid-19 pandemic".

UAE currency: the story behind the money in your pockets
GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

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The biog

Name: Abeer Al Shahi

Emirate: Sharjah – Khor Fakkan

Education: Master’s degree in special education, preparing for a PhD in philosophy.

Favourite activities: Bungee jumping

Favourite quote: “My people and I will not settle for anything less than first place” – Sheikh Mohammed bin Rashid.

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Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

'The Sky is Everywhere'

Director:Josephine Decker

Stars:Grace Kaufman, Pico Alexander, Jacques Colimon

Rating:2/5

The specs: 2019 BMW X4

Price, base / as tested: Dh276,675 / Dh346,800

Engine: 3.0-litre turbocharged in-line six-cylinder

Transmission: Eight-speed automatic

Power: 354hp @ 5,500rpm

Torque: 500Nm @ 1,550rpm

Fuel economy, combined: 9.0L / 100km

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Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
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Ultra processed foods

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The specs

Engine: Two permanent-magnet synchronous AC motors

Transmission: two-speed

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Range: 456km

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SPECS

Engine: Two-litre four-cylinder turbo
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UAE currency: the story behind the money in your pockets
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Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE