Author: Finance for Sight

Bullish momentum returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 700 points during the opening hours of trading on Thursday. At 11:10am, the benchmark index was hovering at 112,989.28 level, an increase of 735.52 points or 0.66%. Buying was witnessed in key sectors including automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration companies, OMCs and refinery. Index-heavy stocks including PRL, HUBCO, PSO, SNGPL, MARI, OGDC, HBL, NBP and UBL traded in the green. Investors are keenly watching ongoing talks between the Pakistani authorities and the International Monetary Fund (IMF) regarding the first…

WASHINGTON: The United States broke a longstanding diplomatic taboo by holding secret talks with Hamas on securing the release of U.S. hostages held in Gaza, sources told Reuters on Wednesday, while President Donald Trump warned of “hell to pay” should the Palestinian group not comply. U.S. hostage affairs envoy Adam Boehler has the authority to talk directly with Hamas, the White House said when asked about the discussions, which broke with a decades-old policy against negotiating with groups that the U.S. brands as terrorist organizations. Boehler and Hamas officials met in Doha in recent weeks, two sources briefed on the…

HOUSTON: Oil prices declined for a third day on Wednesday after US crude oil stocks posted a larger-than-expected build, adding a further headwind as investors worried about OPEC+ plans to proceed with output increases in April, and US President Donald Trump’s tariffs on Canada, China and Mexico escalated trade tensions. Brent futures fell $2.19, or 3.1%, to $68.85 a barrel by 10:49 a.m. EST (1549 GMT). US West Texas Intermediate (WTI) crude declined $2.55, or 3.7%, to $65.71 a barrel. US crude stocks rose more than expected, while gasoline and distillate inventories fell in the week ending February 28, the…

WASHINGTON: The Trump administration has been conducting secret talks with Hamas on the possibility of releasing U.S. hostages being held in Gaza, a source briefed on the conversations told Reuters. U.S. special envoy for hostage affairs Adam Boehler has been holding the direct talks with Hamas in recent weeks in Doha, the source said, confirming a report by Axios. Until recently the United States had avoided direct discussions with the group. The U.S. State Department designated Hamas as a foreign terrorist organization in 1997. The Israeli embassy in Washington did not immediately respond to a request for comment. Boehler’s office…

KYIV: Ukrainian President Volodymyr Zelenskiy said on Wednesday there had been “positive movement” in cooperation with the United States that could lead to another meeting between the two sides soon. Kyiv is eager to repair ties with its top military supporter against Russia’s invasion after Zelenskiy publicly clashed with U.S. President Donald Trump in the White House last week over how to end the war in Ukraine. Trump says Ukraine willing to negotiate, Russia ‘ready for peace’ “Today our Ukrainian and U.S. teams began working on a meeting. Andriy Yermak and Mike Waltz spoke,” Zelenskiy said in his evening address,…

LONDON: OPEC oil output rose in February, a Reuters survey found, as Iranian exports held strong, despite renewed U.S. attempts to curb the flows, and Nigeria boosted output above its target within the wider OPEC+ group. The Organization of the Petroleum Exporting Countries pumped 26.74 million barrels per day last month, up 170,000 bpd from January’s revised total, the survey showed on Wednesday, with Iran and Nigeria posting the largest gains. OPEC+, which includes OPEC plus Russia and other allies, is keeping production cuts in place through March due to expectations of limited demand and rising output outside the group.…

WASHINGTON: US President Donald Trump vowed Tuesday to “wage war” on Mexico’s drug cartels, which he accused of rape and murder as well as “posing a grave threat” to national security. “The cartels are waging war on America, and it’s time for America to wage war on the cartels, which we are doing,” he told Congress in his first address since returning to power. The warning came hours after Trump slapped 25 percent tariffs on Mexico and Canada, citing a lack of progress in stemming the flow of drugs such as fentanyl into the United States. Cracking down on gang…

The sale of HOBC (high octane blending component) hit record high at around 33,000 metric tons in Pakistan in the wake of discounts offered by the oil marketing companies (OMCs) in February 2025, attracting commuters to buy the better quality fuel in place of comparatively cheaper oil i.e. MS petrol. Citing Oil Companies Advisory Council’s (OCAC) data, Optimus Capital Management (OCM) reported the sale of HOBC stood at around 15,000 metric tons in September 2024. It continued to surge every passing month since then, hitting a record high sale in February 2025. Govt reduces petrol, diesel prices for next fortnight…

WASHINGTON: President Donald Trump on Tuesday said the person responsible for killing 13 US service members during the withdrawal from Afghanistan in 2021 had been arrested with the help of Pakistan and was now on his way to the US to face justice. Trump shared the news during an address to Congress, but gave no further details. US Attorney General Pam Bondi said the person, whom she did not identify further, would be taken into US custody by the Justice Department, FBI and CIA. “We hope this brings some closure to the families of the 13 American Heroes lost at…

WASHINGTON/KYIV: US President Donald Trump said on Tuesday he received a letter from Ukrainian President Volodymyr Zelenskiy in which the Ukrainian leader expressed willingness to come to the negotiating table over the Russia-Ukraine war. “Ukraine is ready to come to the negotiating table as soon as possible to bring lasting peace closer. Nobody wants peace more than the Ukrainians,” Trump said in an address to Congress on Tuesday while quoting from the letter. Trump also said he had been in “serious discussions with Russia” and had “received strong signals that they are ready for peace”. “Wouldn’t that be beautiful?” he…