Author: Finance for Sight

LONDON: Oil traded higher on Monday after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping while Chinese economic data fuelled hopes for higher demand. US President Donald Trump launched military strikes against the Houthis on Saturday over the group’s attacks against Red Sea shipping. One US official told Reuters the campaign might continue for weeks. Brent futures rose 76 cents, or 1.1%, to $71.34 a barrel by 1315 GMT while US West Texas Intermediate crude futures gained 65 cents, or 1%, to $67.83. Chinese economic data also supported prices. Retail…

SANAA: Yemen’s Houthi rebels said they attacked an American aircraft carrier group twice within 24 hours as they prepared for huge rallies on Monday after US strikes left dozens dead. The response from the Houthis follows attacks on Saturday ordered by President Donald Trump that hammered the rebel-held capital, Sanaa, and several other areas, killing 53 people, according to the rebels. The United States struck the Houthis over their repeated attacks on Red Sea shipping sparked by the Gaza war, which have put a major strain on the vital trade route. The rebels said they had hit back by firing…

PARIS: Frightened by the prospect of US security disengagement and three years of Moscow’s war against Ukraine, European countries are debating reinstating compulsory military service to boost their defences in the face of Russian aggression. Russian leader Vladimir Putin’s invasion of Ukraine in 2022 caught Europe off guard, and fears about the strength of NATO surged further after US President Donald Trump upended the transatlantic alliance, saying Europe must take care of its own security. Both military analysts and European governments acknowledge that the threat of Russian aggression is real, today even more so than three years ago. “The Russian…

NAIROBI: Kenya’s shilling weakened slightly on Monday, and was expected to ease further due to slowing dollar inflows, especially from non-governmental organisations, traders said. At 0655 GMT, the shilling traded at 129.35/65 per dollar, compared with Friday’s closing rate of 129.00/30. Kenyan shilling broadly steady, LSEG data shows The International Monetary Fund said on Monday they will discuss a new lending programme for Kenya, with both sides agreeing to abandon a ninth review of the current $3.6 billion loan.

WASHINGTON: There are “no guarantees” there will not be a recession in the United States, although there could be an adjustment, Treasury Secretary Scott Bessent said in an interview that aired on Sunday. But Bessent, speaking to NBC’s “Meet the Press,” ruled out the chance of a financial crisis. US stock markets closed down sharply last week amid mounting uncertainties arising from President Donald Trump’s frequently shifting policies, including tariff threats against the biggest US trading partners. Asked whether he could guarantee there would be no recession while Trump was in power, Bessent replied: “There are no guarantees. Who would…

LONDON: Gold soared above $3,000 for the first time ever on Friday, as investors flocked to the asset, seen as a safe-haven, amid uncertainty over the fallout of US tariffs. Gold rises as tariff uncertainty, cooler inflation data lend support In morning deals, gold rose 2.94 percent to $3,000.85 per ounce, a day after it surpassed its late February record.

WASHINGTON: The Committee to Protect Journalists urges United States congressional leaders to protect the US Agency for Global Media (USAGM) after President Trump signed an executive order on Friday aimed at dismantling the parent of Voice of America and six other federal agencies. “It is outrageous that the White House is seeking to gut the Congress-funded agency supporting independent journalism that challenges narratives of authoritarian regimes around the world,” said CPJ Program Director Carlos Martinez de la Serna in New York. “We call on congressional leaders to protect this critical agency, which provides uncensored news in countries where the press…

SANAA: Iran-backed Houthi rebels in Yemen said Sunday they attacked a US aircraft carrier group in the Red Sea a day after a wave of air strikes the White House said killed senior rebel leaders. “In response to this aggression, the armed forces conducted a military operation… targeting the US aircraft carrier USS Harry Truman and its accompanying warships”, the group said in a statement. The Huthis said they had launched 18 missiles and a drone at the American ships. There was no immediate comment from the United States about the claim. Iran says US has ‘no authority’ to dictate…

JOHANNESBURG: South Africa’s rand gained on Friday due to record high gold prices that were driven by investors seeking safe haven assets amid worries over a global trade war. At 1457 GMT, the rand traded at 18.1850 against the dollar , about 0.7% firmer than its previous close. The South African currency had fallen earlier this week on domestic political tensions sparked by a revised national budget. “The rand is ending the week on a strong note, bolstered by global market sentiment rather than domestic developments, despite uncertainty surrounding the ratification of the proposed budget,” said Zain Vawda, market analyst…

WASHINGTON: US strikes killed multiple Houthi leaders in Yemen, the White House said Sunday, adding Iran was “put on notice” to stop backing the rebel group and its attacks on Red Sea shipping. The airstrikes Saturday “actually targeted multiple Houthi leaders and took them out,” National Security Advisor Michael Waltz told ABC News. “We just hit them with overwhelming force and put Iran on notice that enough is enough,” he said in a separate appearance on Fox News. He also reiterated a US warning that “all options are on the table” to prevent Iran from attaining a nuclear weapon. The…