Author: Finance for Sight

GAZA CITY: Hamas said it remained open to negotiations while calling for pressure on Israel Wednesday to implement a Gaza truce after its deadliest bombing since the fragile ceasefire began in January. Israel carried out fresh air strikes on Gaza on Wednesday, killing 13 people according to the territory’s civil defence agency, after Israeli Prime Minister Benjamin Netanyahu said Tuesday’s raids were “only the beginning”. The United Nations and countries around the world condemned the high civilian death toll in the renewed strikes, which have killed more than 400 people, according to Hamas-run territory’s health ministry. Hamas is open to…

MAZAR-I-SHARIF: Young, urban women in Afghanistan are increasingly ditching the all-enveloping blue burqa with a face mesh that has become a symbol of the Taliban’s oppression of women. Since their return to power in 2021, the Taliban have imposed an ultra-strict vision of Islamic law, modelled on their previous rule from 1996 to 2001. But while women must still have their bodies and faces covered, restrictions from the feared religious police do not specifically mention the burqa. So young women are instead following fashions seen in many Gulf nations. Many prefer a flowing abaya robe, worn with a hijab headscarf…

Positive momentum continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 900 points during intra-day trading on Wednesday. At 12:20pm, the benchmark KSE-100 Index was hovering at 117,925.77, an increase of 924.68 points or 0.79%. Buying was observed in key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks including PRL, NRL, HUBCO, MARI, OGDC, PPL, POL, HBL, MEBL and NBP traded in green. Market experts attributed the upward trend to multiple positive developments. “Last week, it was reported that progress has been made in…

WASHINGTON: Mahmoud Khalil, the Columbia University Palestinian graduate student who the Trump administration is seeking to deport for his role in pro-Palestinian protests, called himself a political prisoner on Tuesday, in his first direct comments since his detention. The detention of Khalil, a US permanent resident, has been condemned by multiple human rights groups as an assault on free speech and due process. Over 100 Democratic lawmakers from the US House of Representatives have questioned the detention’s legality in a letter, opens new tab to the administration of Republican President Donald Trump. Justice Department lawyers say Khalil, 30, was subject…

Buying rally continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index settling above the 117,000 level amid a gain of over 800 points on Tuesday. Bullish momentum prevailed throughout the trading session, pushing the benchmark index to hit an intra-day high of 117,202.09. At close, the benchmark index settled at 117,001.09, an increase of 801.50 points or 0.69%. Buying was observed in key sectors including oil and gas exploration companies, OMCs, power generation and refineries. Index-heavy stocks including HUBCO, ARL, PRL, PSO, SNGPL, OGDC, POL and PPL settled in the green. In a key development, Business Recorder…

GENEVA: The UN migration agency said on Tuesday that unprecedented cuts in donor funding this year will force it to scale back or shut down projects around the world, resulting in a severe impact on migrants. The International Organization for Migration said it expected funding to be reduced by a record 30% this year due to a major decrease in US-financed projects after President Donald Trump announced a major overhaul of aid funding. This would mean scaling back or ending projects affecting over 6,000 staff worldwide and more than 250 at its Geneva headquarters, IOM said, without giving a full…

JERUSALEM: Prime Minister Benjamin Netanyahu on Tuesday said that a wave of deadly overnight strikes on Gaza was “only the beginning” of Israeli action in the Palestinian territory. “Hamas has already felt the strength of our arm in the past 24 hours. And I want to promise you – and them – this is only the beginning,” Netanyahu said in a televised address. “From now on, negotiations will take place only under fire,” he said, adding: “Military pressure is essential for the release of additional hostages”. Tuesday’s strikes, by far the largest since a truce took effect in January, killed…

The Security Papers Limited (SPL) has awarded a paper machine upgrade project worth Rs3.4 billion to a German firm Giesecke+Devrient (G+D) ahead the roll-out of Pakistan’s new design banknotes. “The estimated cost of the project is Rs3.4 billion, which includes an international tender worth Euro 8.297 million awarded to Giesecke+Devrient (G+D), Germany٫” SPL said in a press statement. “The upgrade is expected to be completed within 18 months.” The project is aimed at enhancing SPL’s production capabilities – to meet the latest international trends and incorporate advanced security features for banknote paper to accommodate the evolving requirements of the State…

BR100 12,458 Increased By 125.9 (1.02%) BR30 38,307 Increased By 534.6 (1.42%) KSE100 117,001 Increased By 801.5 (0.69%) KSE30 36,134 Increased By 227.9 (0.63%)

Most stock markets in the Gulf ended higher on Tuesday ahead of talks between U.S. President Donald Trump and Russian President Vladimir Putin aimed at ending Russia’s war with Ukraine, while tensions in the region dampened investor sentiment. Trump said he would speak with Putin to discuss a potential Russia-Ukraine cease-fire proposal, which could alleviate some geopolitical uncertainty. Saudi Arabia’s benchmark index dropped 0.8%, dragged down by a 1.4% fall in Saudi Aramco as the oil behemoth traded ex-dividend. Israeli air strikes on Gaza killed more than 300 people, Palestinian health authorities said, threatening a complete collapse of a two-month…