Author: Finance for Sight

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…

ABUJA: Nigeria’s central bank held its benchmark lending rate at 27.50%, its governor Olayemi Cardoso said on Thursday. The decision follows six rate hikes last year totaling 875 basis points to try to get inflation under control. Earlier this week the statistics agency unveiled a much lower annual inflation rate of 24.48% in January after a rebasing exercise. The naira currency has been relatively stable since December, potentially reassuring the central bank.

Three Palestinians were killed on Wednesday by Israeli forces in the al-Faraa camp near Tubas in the occupied West Bank, the Palestinian state news agency WAFA reported. Security forces told WAFA the three people were killed after the Israeli military fired bullets and shells at their home. The Israeli army said in a statement on Wednesday that the three people were “wanted terrorists who sold weapons for terror purposes”. They said two other individuals were detained. Wednesday’s incident comes as Israel continues with a weeks-long offensive that has demolished houses and torn up vital infrastructure in refugee camps in the…

Most stock markets in the Gulf ended higher on Thursday, as investors cautiously shrugged off concerns over U.S. President Donald Trump’s tariffs threats and the Federal Reserve’s dovish tone. Trump has been making waves with his tariff announcements this week, targeting a broad range of imports, including pharmaceuticals, semiconductor chips, and lumber. The big one, though, is the impending tariff on autos, set to kick in as early as April 2. These moves have investors on edge, fearing an all-out trade war. However, some analysts believe Trump’s aggressive stance is simply a negotiating tactic. Saudi Arabia’s benchmark index gained 0.6%,…

MIAMI: The United States’ envoy to the Middle East said on Thursday that President Donald Trump’s plan for Gaza was not about evicting Palestinians, and the conversation about Gaza’s future was being shifted towards how to create a better future for Palestinians. Trump proposed on February 4 the U.S. should take over Gaza, with Palestinians resettled in other places including Egypt and Jordan, a suggestion which caused an international outcry. However, speaking at a Miami conference hosted by a non-profit linked to the Saudi Arabian sovereign wealth fund, U.S. envoy Steven Witkoff said that Trump’s comments on Gaza were more…

Canada’s primary stock index fell on Thursday, dragged by concerns that U.S. President Donald Trump’s fresh tariff threats could stoke a global trade war. At 10:03 a.m. ET (1503 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 0.6% at 25,489.09 points. The technology sector was the worst performer, dragged by a 4.3% drop in Blackberry. Trump announced plans to unveil fresh tariffs within the next month or sooner, targeting lumber and forest products in addition to previously announced duties on imported cars, semiconductors, and pharmaceuticals. This announcement is particularly significant for Canada, one of the world’s leading producers…

DUBAI: Saudi Crown Prince Mohammed bin Salman has invited the leaders of Gulf Arab countries, Egypt, and Jordan for a meeting in Riyadh on Friday, the Saudi state news agency SPA reported on Thursday. Arab states have pledged to work on a post-war plan for the Gaza Strip’s reconstruction to counter U.S. President Donald Trump’s proposal to redevelop the enclave as an international beach resort after resettling its Palestinian inhabitants elsewhere. Saudi Arabia said Friday’s meeting would be unofficial and held within “the framework of the close brotherly relations that bring together the leaders”, SPA said. Gaza Arab plan may…

Gold prices in Pakistan maintained their upward trajectory on Thursday in line with their rise in international rates. In the local market, gold price per tola gained Rs1,000 to reach a new all-time high of Rs309,000. Similarly, 10-gram gold was sold at Rs264,917 after it registered an increase of Rs857, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Wednesday, gold price per tola increased by Rs3,800 to settle at the then-all-time high of Rs308,000. The international rate of gold increased on Thursday. As per APGJSA, the rate was at $2,953 per ounce (with a…