Author: Finance for Sight

European shares were steady on Thursday as gains in industrials and materials were offset by declines in heavyweight sectors such as energy and healthcare. The pan-European STOXX 600 index held its ground at 552.47 points. The benchmark index logged its worst day so far in 2025 in the previous session. The industrial goods and services sector rose 0.6%, led by a 5.4% jump in Schneider Electric after the electrical equipment maker forecast a bigger-than-expected rise in its 2025 profit margin. Siemens gained 1.1% after the engineering company said it was selling a 2% stake in healthcare subsidiary Siemens Healthineers, raising…

ISTANBUL: Six migrants drowned while another 27 were rescued by the coastguard when their boat started sinking off the western coast of Turkey, the interior minister said on Wednesday. The incident took place before dawn just south of the seaside resort of Izmir in the waters separating the Turkish coast from the Greek island of Samos, which lies just 15 kilometres (nine miles) away. “The bodies of six lifeless illegal immigrants were fished out of the water,” Interior Minister Ali Yerlikaya wrote on X, adding that the coastguard had rescued 27 others, one of whom was detained on suspicion of…

MUMBAI: The Indian rupee topped gains among major Asian currencies and settled at a one-week high on Thursday, aided by dollar sales from foreign banks and softness in the greenback. The rupee closed at 86.66 against the U.S. dollar, up 0.3% on the day. It was the best performer among regional peers that rose amid gains in the Chinese yuan and Japanese yen. While U.S. President Trump’s remark that a new trade deal with Beijing is possible lifted the yuan, the yen hit its strongest level in more than two months as investors ramped up bets on further rate hikes…

TEHRAN: Faced with myriad problems including gridlocked traffic and a sinking earth surface in its current capital, Iran is considering a drastic solution — moving it to an altogether different location on the Gulf of Oman. Though the idea of moving the capital has cropped up on various occasions since the 1979 Islamic Revolution, the proposals were repeatedly shelved as unrealistic due to the massive financial and logistical hurdles. But reformist President Masoud Pezeshkian, who took office in July, has recently revived the idea, citing Tehran’s growing challenges. These include traffic snarls, water shortages, resource mismanagement, extreme air pollution, as…

KAMPALA: The Ugandan shilling was firmer on Thursday on the back of dollar inflows from charities and offshore investors who participated in this week’s Treasury bond auction, traders said. Uganda shilling steady, bias on the firming side At 0911 GMT commercial banks quoted the shilling at 3,662/3,672, from Wednesday’s closing rate of 3,670 /3,680.

U.S. President Donald Trump told reporters on Air Force One on Wednesday that he was talking to China about TikTok as the United States seeks to broker a sale of the popular app. TikTok returns to Apple, Google app stores

JOHANNESBURG: South Africa’s rand firmed slightly in early trade on Thursday, recouping some of the previous session’s losses as focus shifted from a delay in the national budget to the first meeting of G20 foreign ministers in Johannesburg. At 0812 GMT, the rand traded at 18.4925 against the dollar , about 0.2% stronger than its previous close. The local currency slipped on Wednesday after a last-minute postponement of the budget due to disagreements within the country’s coalition government over a proposal to hike value-added tax (VAT). President Cyril Ramaphosa said the cabinet would work together to deliver a new budget,…

WASHINGTON/KYIV: U.S. President Donald Trump denounced Ukrainian President Volodymyr Zelenskiy as a “dictator” on Wednesday and warned he had to move quickly to secure peace or risk losing his country, deepening a feud between the two leaders that has alarmed European officials. The extraordinary attacks – a day after Trump claimed Ukraine was to blame for Russia’s 2022 invasion – heightened concerns among U.S. allies in Europe that Trump’s approach to ending the Russia-Ukraine conflict could benefit Moscow. Less than a month into his presidency, Trump has upended U.S. policy on the war, ending a campaign to isolate Russia with…

Power generation in Pakistan clocked in at 8,152 GWh (10,957 MW) in January 2025, a decrease of 2% YoY compared to the same period of the previous year, amid a decline in the overall demand. Back in January 2024, power generation stood at 8,314 GWh (11,175 MW). On a monthly basis, power generation improved by 4.5% as compared to 7,801 GWh in December. In the first seven months of FY25 (July-January), power generation fell by 3.2% YoY to 74,794 GWh compared to 77,296 GWh in the SPLY. Analysts have voiced concerns over Pakistan’s decline in electricity consumption, which is accompanied…

GAZA CITY: Hamas on Thursday accused Israeli Prime Minister Benjamin Netanyahu of “procrastinating” on negotiations for the second phase of a fragile ceasefire in Gaza, after Palestinian returned the bodies of four deceased hostages to Israel. “The second phase negotiations have not practically begun, and we are ready to engage in them as stipulated in the agreement,” Hamas spokesman Abdul Latif Al-Qanou said in a statement, adding that “Netanyahu is procrastinating regarding the second phase”. The fragile truce took effect on January 19 after more than 15 months of fighting between Israel and Hamas, sparked by the Palestinian group’s October…