Author: Finance for Sight

After hitting record high in the previous session, gold prices fell in Pakistan on Friday, in line with their decline in the international market. In the local market, gold price per tola reached Rs318,800 after a single-day fall of Rs2,000. Similarly, 10-gram gold was sold at Rs273,319 after it registered a decline of Rs1,712, as per All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Thursday, gold price per tola increased by Rs1,800 to hit then all-time high of Rs320,800. The international rate of gold also increased on Friday. As per APGJSA, the rate was at $3,031 per ounce (with a…

GENEVA: Last year was the deadliest year for migrants, with nearly 9,000 people dying worldwide, the United Nations said on Friday, calling the “tragedy… unacceptable and preventable”. “At least 8,938 people died on migration routes worldwide in 2024,” the fifth year that numbers have reached record highs, the UN’s migration agency said. “The tragedy of the growing number of migrant deaths worldwide is both unacceptable and preventable,” said Ugochi Daniels, the deputy director of the International Organization for Migration (IOM). “Behind every number is a human being, someone for whom the loss is devastating,” Daniels said. “The actual number of…

CHICAGO: Following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Friday. Wheat – Steady to up 2 cents a bushel Wheat futures firm on technical buying and short covering following three sessions of declines. Gains capped by tepid U.S. export demand and a firmer U.S. dollar. Actively traded CBOT May wheat hit overhead chart resistance at its 20-day moving averages in overnight trading. CBOT May soft red winter wheat was last up 1 cent at $5.58-1/4 per bushel. K.C. May hard red winter…

LONDON: The closure of Britain’s Heathrow Airport is set to affect the global aviation system for days at a cost of tens of millions of dollars, experts say, posing questions about why better contingency planning was not in place at the hub. Experts were in shock at the scale of the outage, which has not been seen since the Icelandic ash cloud of 2010, as they tried to estimate the cost and breadth of the repercussions caused by a fire at a nearby electrical substation that knocked out the airport’s power supply and its back-up power. The chaos delivered a…

Britain’s competition regulator fined four sports broadcast and production companies about 4 million pounds ($5.2 million) on Friday for sharing sensitive information about fees for freelance camera operators and sound technicians. The Competition and Markets Authority (CMA) said five companies – Sky, BT, IMG, ITV and the BBC – admitted “to breaking the law” after “colluding” on pay rates for freelancers. BT, IMG, ITV and the BBC were given a discount on penalties since they assisted the regulator in the case, while Sky was exempted because it notified the regulator before it began its investigation, the regulator said. IMG did…

KAMPALA: The Ugandan shilling traded flat early on Friday as activity remained subdued on both demand and supply sides, traders said. Ugandan shilling steady as commodity flows lend support At 0726 GMT commercial banks quoted the shilling at 3,660/3,670, same level as Thursday’s close.

Glaciers around the globe are disappearing faster than ever, with the last three-year period seeing the largest glacial mass loss on record, according to a UNESCO report, opens new tab released on Friday. The 9,000 gigatons of ice lost from glaciers since 1975 are roughly equivalent to “an ice block the size of Germany with the thickness of 25 meters,” Michael Zemp, director of the Switzerland-based World Glacier Monitoring Service, said during a press conference announcing the report at the UN headquarters in Geneva. The dramatic ice loss, from the Arctic to the Alps, from South America to the Tibetan…

Gold prices continued to soar in Pakistan in line with their increase in the international rates. In the local market, gold price per tola gained Rs1,800 on Thursday to reach a record Rs320,800. 10-gram gold was sold at Rs275,034 after it registered an increase of Rs1,543, as per All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Wednesday, the yellow metal soared to Rs319,000 in Pakistan. The international rate of gold also increased on Thursday. As per APGJSA, the rate was at $3,050 per ounce (with a premium of $20), an increase of $12 during the day. Moreover, silver price decreased…

WASHINGTON: Donald Trump has told Volodymyr Zelensky that the United States could own and run Ukraine’s nuclear power plants as part of his latest bid to secure a ceasefire in Russia’s invasion of its neighbor. The offer comes as some 30 military chiefs from countries keen to help protect an eventual ceasefire between Russia and Ukraine prepared for talks in Britain on Thursday to discuss planning for a peacekeeping force. EU leaders were also set to discuss the three-year war at a summit in Brussels on Thursday, as well as the bloc’s defence capabilities as it grapples with an aggressive…

WASHINGTON: Donald Trump has told Volodymyr Zelensky that the United States could own and run Ukraine’s nuclear power plants as part of his latest bid to secure a ceasefire in Russia’s invasion of its neighbor. The offer comes as some 30 military chiefs from countries keen to help protect an eventual ceasefire between Russia and Ukraine prepared for talks in Britain on Thursday to discuss planning for a peacekeeping force. EU leaders were also set to discuss the three-year war at a summit in Brussels on Thursday, as well as the bloc’s defence capabilities as it grapples with an aggressive…