Author: Finance for Sight

MOSCOW: Ukraine struck a major Russian strategic bomber airfield on Thursday with drones, triggering a huge blast and fire about 700 km (435 miles) from the front lines of the war, Russian and Ukrainian officials said. Videos verified by Reuters showed a huge blast spreading out from the airfield, wrecking nearby cottages. Russia’s defence ministry said air defences had shot down 132 Ukrainian drones over Russian regions. Other verified videos showed a giant plume of smoke rising into the dawn sky and an intense fire. The base in Engels, which dates back to Soviet times, hosts Russia’s Tupolev Tu-160 nuclear-capable…

Pakistan Stock Exchange (PSX) continued its record-breaking run as the benchmark KSE-100 Index crossed the 119,000 level, for the first time, before closing at a new high of 118,769.77 on Thursday. Bullish momentum prevailed through most of the trading session, pushing the KSE-100 Index to a record intra-day high of 119,421.81. However, profit-taking in the final hours of the session trimmed market gains. The benchmark index settled at 118,769.77 level, a new high, amid a gain of 795.75 points or 0.67%. Buying was observed in key sectors including oil and gas exploration companies, OMCs, power generation and refineries. Index-heavy stocks…

TEHRAN: Iran’s Foreign Minister Abbas Araghchi said on Thursday that a recent letter sent by US President Donald Trump calling for new nuclear talks was “actually more of a threat”, and that Tehran would respond soon. Araghchi told Iranian state television that while the letter purported to offer up opportunities, it was “actually more of a threat”, adding that Iran was now studying its contents and would respond “in the coming days”. On March 7, Trump said he had written to Iran’s supreme leader Ayatollah Ali Khamenei calling for negotiations and warning of possible military action if Iran refused. Khamenei…

US stock indexes dropped on Thursday, as worries about the repercussions of an ongoing global trade war resurfaced, a day after the Federal Reserve left interest rate steady but warned of an uncertain economic backdrop. Global markets have been roiled with volatility over the past few weeks as investors were concerned that President Donald Trump’s aggressive stance on trade policies could stoke inflation, tip the economy into a recession and disrupt the Fed’s monetary policy easing cycle. The Fed maintained current interest rates on Wednesday as expected and reaffirmed its forecast for two 25 basis point reductions by the year-end.…

CAIRO: Hamas’ armed wing claimed on Thursday an attack with a barrage of rockets against Tel Aviv, in central Israel. The group said the attack was in response to “the Zionist massacres against civilians”. Three projectiles were identified crossing from southern Gaza into Israel, the Israeli military said. Hamas to release American hostage in Gaza, ready for second-phase ceasefire talks “The IAF successfully intercepted one projectile and two additional projectiles fell in an open area,” it added.

OCCUPIED JERUSALEM: Israel said it intercepted a missile launched from Yemen on Thursday, as the Iran-backed Houthi rebels claimed to have targeted Ben Gurion international airport. “A missile launched from Yemen was intercepted… prior to crossing into Israeli territory,” Israel’s military said. Part of Iran’s “axis of resistance” against the United States and Israel, the Houthis have been firing on ships in the Red Sea and at Israel since the start of the Gaza war, claiming solidarity with Palestinians. They had paused their attacks for the duration of an Israel-Hamas ceasefire that began mid-January, but resumed launching missiles and drones…

JOHANNESBURG: South Africa’s rand weakened early on Thursday, ahead of a much anticipated interest rate decision by the South African Reserve Bank (SARB). At 0715 GMT, the rand traded at 18.1750 against the dollar, about 0.3% weaker than its previous close. The dollar last traded up about 0.2% against a basket of currencies as markets digested the US Federal Reserve’s decision to hold interest rates steady and lower the nation’s growth forecast on Wednesday. The risk-sensitive rand has been rocked by national budget deadlock, tensions with the US and uncertainty over President Donald Trump’s tariffs, but investor focus will be…

SAN FRANCISCO: The only two Democrats on the US Federal Trade Commission have been fired by President Donald Trump, the White House said, opening the door for the Republican to appoint loyalists at the independent regulatory agency. The FTC’s primary function is to protect the US public against deceptive or unfair business practices. Speaking on condition of anonymity, a White House official confirmed that FTC commissioners Alvaro Bedoya and Rebecca Kelly Slaughter were dismissed. The FTC consists of five commissioners, typically representing both major political parties. “The president just illegally fired me,” Bedoya wrote in a post on X, formerly…

NEW YORK: Wall Street stocks climbed early Wednesday as markets awaited a Federal Reserve decision and news conference with updates on the monetary policy and economic outlook. The US central bank is widely expected to keep interest rates unchanged, but markets will be scrutinizing the Fed’s updated economic projections and whether it still expects two interest rate cuts in 2025. Fed Chair Jerome Powell is expected to again be pressed on how the Trump administration’s aggressive trade policies and tariffs affect the outlook for inflation. About 20 minutes into trading, the Dow Jones Industrial Average was up 0.5 percent at…

CAIRO: Israeli strikes killed at least 20 Palestinians in Gaza on Wednesday, local health workers said, as the Israeli military unleashed more bombardments of the enclave and ordered residents to evacuate combat zones. The United Nations said a foreign staffer was killed and five other workers were wounded in an Israeli airstrike on the site of a UN headquarters in central Gaza City. Jorge Moreira da Silva, Executive Director of the UN office for Project Services, said: “Israel knew that this was a UN premises, that people were living, staying and working there, it is a compound. It is a…