Author: Finance for Sight

Toronto’s main stock index rose 1% on Friday ahead of Mark Carney’s appointment as prime minister of Canada, while still set for a weekly loss amid growth concerns from an ongoing trade war. The Toronto Stock Exchange’s S&P/TSX composite index was up 1.01% at 24,446.46, with a majority of sectors clocking gains. Carney, a former central banker and political novice, has projected himself as the best person to take on U.S. President Donald Trump, who has repeatedly discussed annexing Canada and escalating tariff wars, potentially risking a recession for Canadians. TSX’s technology index led the gains, rising 2.3%, boosted by…

CAIRO: At least nine Palestinians including three local journalists were killed on Saturday in an Israeli air strike on Gaza’s northern Beit Lahiya town, the local health ministry said, as Hamas leaders held ceasefire talks with mediators in Cairo. Several were critically injured as the strike hit a car, with casualties inside and outside the vehicle, health officials told Reuters. Witnesses and fellow journalists said the people in the car were on a mission for a charity called Al-Khair Foundation in Beit Lahiya, and they were accompanied by journalists and photographers when the strike hit them. At least three local…

BUCHAREST: Thousands of Romanians took to the streets of Bucharest on Saturday to show their support for the European Union, amid political disputes over a presidential election rerun scheduled for May. Romania is due to repeat its two-round presidential election on May 4 and 18 after the Constitutional Court voided the initial ballot in December following accusations of Russian meddling in favour of Calin Georgescu, who had been leading in the polls. The cancellation of the ballot has placed the EU and NATO state at the centre of a dispute between Europe and U.S. President Donald Trump’s administration over free…

U.S. equities staged a modest recovery on Friday, after a turbulent week marked by a broad selloff as investors assessed the economic fallout of the Trump administration’s chaotic trade policies, putting major indexes on track for weekly losses. The technology sector, which bore the brunt of the selloff, spearheaded sectoral gains with a 2.8% rise. An index tracking banks gained 2.9%, while chip stocks such as Nvidia and Broadcom advanced, aiding the broader chip index’s 3% rise. “These growth companies that have been selling off these highs, the reality is their valuations were high, but they’re good companies and they’re…

GAZA CITY: Gaza’s civil defence agency said nine people including journalists were killed in Israeli strikes on Saturday, attacks which could further endanger the fragile truce in the Palestinian territory. Following the reported strikes, the deadliest since the ceasefire took hold on January 19, Hamas accused Israel of a “blatant violation” of the truce which largely halted more than 15 months of fighting. The first phase of the truce ended on March 1 without agreement on the next steps, but both Israel and Hamas have refrained from returning to all-out war. A senior Hamas official said on Tuesday fresh talks…

The government on Friday officially launched the Pakistan Crypto Council (PCC), with an aim to regulate and integrate blockchain technology and digital assets into its financial landscape, according to a statement from the Finance Division. The development comes a week after the government appointed Bilal bin Saqib as the Chief Advisor to the Finance Minister for the PCC. The PCC is a government-backed initiative aimed at regulating, fostering, and integrating blockchain and cryptocurrency innovations into Pakistan’s financial and economic framework. “The Pakistan Crypto Council has officially been launched, marking a significant step in the country’s efforts to regulate and integrate…

WASHINGTON: At least 19 were killed as U.S. President Donald Trump launched large-scale military strikes against Yemen’s Houthis on Saturday over the group’s attacks against Red Sea shipping, warning “hell will rain down” on them if they do not stop. Trump also warned Iran, the Houthis’ main backer, that it needed to immediately halt support for the group. He said if Iran threatened the United States, “America will hold you fully accountable and, we won’t be nice about it!” The unfolding strikes – which one official said would last days and maybe weeks – represent the biggest U.S. military operation…

LONDON: British Prime Minister Keir Starmer said on Saturday that Western allies other than the U.S. were stepping up preparations to support Ukraine in the event of a ceasefire with Russia, with defence chiefs set to firm up “robust plans” next week. Starmer hosted a virtual meeting to marshal more pressure on Russian President Vladimir Putin to accept a ceasefire deal being pushed by U.S. President Donald Trump, and to gather commitments to help secure any agreement – something Trump has made clear he expects Europe to take on. Around two dozen leaders took part, including those from Germany, France,…

Gold prices in Pakistan declined on Saturday in line with their decrease in international rates. In the local market, gold price per tola clocked in at Rs313,700 after it shed Rs300. Moreover, 10-gram gold was sold at Rs268,947 after it registered a decrease of Rs257, as per All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Friday, gold prices soared to a fresh record high in Pakistan after it increased by Rs4,700 to clock in at Rs314,000. Similarly, the international rate of gold also decreased on Saturday. As per APGJSA, the rate was at $2,984 per ounce (with a premium of…

CAIRO: At least nine Palestinians were killed, including two local journalists, and others wounded on Saturday in an Israeli airstrike on Gaza’s northern Beit Lahiya town, Gaza’s health ministry said, as Hamas’ leaders hold Gaza ceasefire talks with mediators in Cairo. Several were critically injured as the strike hit a car, with casualties inside and outside the vehicle, health officials told Reuters. Witnesses and fellow journalists said the people in the car were on a mission for a charity called Al-Khair Foundation in Beit Lahiya, and they were accompanied by journalists and photographers when the strike hit them. At least…