Author: Finance for Sight

Nestle India said on Friday it received a warning from the country’s markets regulator for a breach of insider trading regulations “by a designated person of the company”. The Indian arm of Swiss food giant Nestle said its compliance officer received an administrative warning letter from the Securities and Exchange Board of India (SEBI) on Thursday. Nestle India shareholders vote against rise in royalty to Swiss parent However, the firm stopped short of revealing details from the letter or about the person. Nestle India “would like to categorically assert that this information has no impact on the financial and operational…

WASHINGTON: US President Donald Trump said he wants to negotiate a nuclear deal with Iran and sent a letter to its leadership on Thursday saying he hoped the Islamic Republic, arch foe of longtime U.S. ally Israel, would agree to talk. “I said I hope you’re going to negotiate, because it’s going to be a lot better for Iran,” Trump said in the interview with Fox Business Network broadcast Friday. “I think they want to get that letter. The other alternative is we have to do something, because you can’t let another nuclear weapon.” There was no immediate response from…

Rupee’s Performance Against US Dollar Since 15 Jan 2025 The Pakistani rupee recorded marginal decline against the US dollar, depreciating 0.05% in the inter-bank market on Friday. At close, the rupee settled at 279.97, a loss of Re0.15 against the greenback. On Thursday, the rupee had closed at 279.82. Internationally, the US dollar wallowed near a four-month low on Friday as ever-shifting tariff policies fanned uncertainty and increased concern about growth prospects for the world’s largest economy, leaving investors grasping for jobs data due later in the day. Another reprieve of levies aimed at Mexico and Canada announced by US…

LONDON: The United States is planning to charge fees for docking at US ports on any ship that is part of a fleet that includes Chinese-built or Chinese-flagged vessels and will push allies to act similarly or face retaliation, a draft executive order stated. The administration of US President Donald Trump is drafting the executive order in a bid to resuscitate domestic shipbuilding and weaken China’s grip on the global shipping industry. Addressing China’s growing dominance of the seas and diminishing US naval readiness is a rare point of consensus between US Republican and Democratic lawmakers. Chinese shipbuilders account for…

WASHINGTON: U.S. President Donald Trump signed an executive order on Thursday to establish a strategic bitcoin reserve, a day before meeting with executives from the cryptocurrency industry at the White House. The reserve will be capitalised with bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings, the White House crypto czar, billionaire David Sacks, said in a post on social media platform X. Attendees at Friday’s White House crypto summit expect the event to serve as a stage for Trump to formally announce his plans to build a strategic reserve containing…

In a key development for Pakistan’s power sector, the government was planning to borrow Rs1.25 trillion from the banking sector to retire the circular debt, stated brokerage house Topline Securities in a report on Friday. Pakistan circular debt crisis is a significant challenge for the country’s energy sector and its broader economy. The circular debt refers to the cascading cycle of non-payments throughout the energy supply chain. “As per our channel checks and various news reports, presidents of the different commercial banks attended a meeting in Islamabad yesterday (Thursday) to discuss modalities of the Rs1.25 trillion borrowing being planned by…

ADDIS ABABA: Four boats carrying migrants have sunk off Djibouti and Yemen killing at least one person and leaving more than 180 missing, the International Organization for Migration told AFP Friday. The sinkings occurred late Thursday along a route that is increasingly used by Ethiopians hoping to find work in Gulf countries or escape conflict. “Over 180 migrants are missing after four boats sank last night off the coasts of Djibouti and Yemen,” the IOM said. Two of the vessels, one believed to be carrying at least 30 people and the other roughly 150, were missing off the coast of…

LONDON: Copper prices slipped on Friday on weak trade data from top metals consumer China, selling by miners and as investors reduced positions amid volatile changes in U.S. tariff policy. Benchmark three-month copper on the London Metal Exchange (LME) was down 0.5% at $9,684 a metric ton by 1100 GMT while U.S. Comex copper futures shed 0.6% to $4.78 a lb. LME copper touched its highest in four months on Thursday at $9,739 a ton on a weak dollar and after U.S. President Donald Trump relaxed his tariffs on Canada and Mexico. The upbeat sentiment carried over to Asian trading…

WASHINGTON: US President Donald Trump said on Thursday he likely will make his first trip abroad to Saudi Arabia to seal an agreement for Riyadh to invest upwards of $1 trillion in the US economy, including purchases of military equipment. Talking to reporters in the Oval Office, Trump said he would probably travel there in the next month and a half. He noted that the first overseas trip of his first term was to Riyadh in 2017 to announce Saudi investments estimated then to be worth $350 billion. “This time, they’ve gotten richer, we’ve all gotten older,” said Trump. He…

WASHINGTON: The US State Department will use artificial intelligence to revoke visas of foreign students who it perceives as supporters of Palestinian Hamas, Axios reported on Thursday, citing senior State Department officials. Fox News separately reported the State Department revoked the visa of a student who allegedly participated in what the department termed as “Hamas-supporting disruptions.” The revocation marked the first such action, according to the report. The State Department was working with the Department of Justice and the Department of Homeland Security, according to Axios. The State Department did not comment directly on the reports but Secretary of State…