Author: Finance for Sight

LONDON: Britain’s Royal Society will hold a crunch meeting on Monday following calls to expel technology billionaire Elon Musk, the world’s richest man, from the prestigious institute of scientists. Founded in 1660, the Royal Society describes itself as a “fellowship of many of the world’s most eminent scientists” and is a key voice in the global scientific community. Past members have included Albert Einstein, Isaac Newton, Charles Darwin, Dorothy Hodgkin, Benjamin Franklin and Stephen Hawking. But after members raised concerns about Musk, the owner of SpaceX, Tesla and the social network X who was elected a fellow in 2018, the…

Pakistan’s Balance of Trade Value in USD billion Pakistan’s trade deficit significantly increased by over 33% to $2.3 billion in February 2025, as compared to the same month of the previous year, data released by the Pakistan Bureau of Statistics (PBS) showed on Monday. The country’s trade balance, the gap between exports and imports, was recorded at a deficit of $1.72 billion in February 2024. The trade deficit expanded year-on-year (YoY) in February 2025 on the back of an increase in the country’s imports along with a decrease recorded in exports. Exports in February 2025 stood at $2.44 billion, down…

The United States is drawing up a plan to potentially give Russia sanctions relief as President Donald Trump seeks to restore ties with Moscow and stop the war in Ukraine, a U.S. official and another person familiar with the matter told Reuters. The White House has asked the State and Treasury departments to draft a list of sanctions that could be eased for U.S. officials to discuss with Russian representatives in the coming days as part of the administration’s broad talks with Moscow on improving diplomatic and economic relations, the sources said. The sanctions offices are now drawing up a…

WASHINGTON: Donald Trump said Monday that Washington would “not put up with” Volodymyr Zelensky’s rhetoric much longer, as the US president prepared to meet his top team after a disastrous Oval Office row with the Ukrainian. “This is the worst statement that could have been made by Zelensky, and America will not put up with it for much longer,” Trump said on social media, citing a story quoting Ukraine’s president saying the end of the war with Moscow was far off. “This guy doesn’t want there to be Peace as long as he has America’s backing.” Trump also took aim…

Gold prices in Pakistan rose on Monday in line with their increase in the international rates. In the local market, the price of gold per tola reached 301,500 after it increased by 1500. Similarly, 10-gram gold was sold at Rs258,487 after it registered an increase of Rs1,286, as per rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Saturday, gold price per tola decreased by Rs500. The international rate of gold also increased on Monday. As per APGJSA, the rate was at $2,869 per ounce (with a premium of $20), an increase of $12 during the day.…

CAIRO: Hamas said on Monday that Israel is trying to push things back to square one by asking to extend the first phase of their Gaza ceasefire agreement. Israeli Prime Minister Benjamin Netanyahu’s office said on Sunday it had adopted a proposal by US President Donald Trump’s envoy for a temporary ceasefire in Gaza for the Ramadan and Passover periods, hours after the first phase of the previously agreed deal expired. Phase one of Israel-Hamas truce due to expire “The occupation is pushing to return things to square one and overturn the agreement through the alternatives it is proposing,” senior…

LONDON: Oil prices were little changed on Monday after registering a monthly loss for the first time since November, while investors await the outcome of efforts to end the Russia-Ukraine war and repercussions from U.S. tariffs. Brent crude rose 11 cents, or 0.15%, to $72.92 a barrel by 1105 GMT while U.S. West Texas Intermediate crude was up 3 cents, or 0.04%, at $69.79. Ukrainian president Volodymyr Zelenskiy said on Sunday that he believed he could salvage his relationship with U.S. President Donald Trump. However, he said talks needed to continue behind closed doors after the heated Oval Office clash…

WASHINGTON: US Defence Secretary Pete Hegseth has ordered a pause on all of the country’s cyber operations against Russia, including offensive actions, multiple US media reports said on Sunday. The order was part of an overall reevaluation of US operations against Moscow, according to the New York Times, with the duration or extent of the pause unclear. The Pentagon declined to comment when queried by AFP. “Due to operational security concerns, we do not comment nor discuss cyber intelligence, plans, or operations,” a senior defence official said. “There is no greater priority to Secretary Hegseth than the safety of the…

LONDON: Britain must strengthen its safeguards against forced labour in supply chains to avoid the country becoming a dumping ground for products banned in other markets, lawmakers said in an report on Monday. Lawmakers on the cross-party Business and Trade Committee called on ministers to update Britain’s modern slavery legislation, penalise companies that fail to publish modern slavery statements, and consider creating a criminal offence around forced labour in supply chains. “The UK is at serious risk of becoming a ‘dumping ground’ for products made with forced labour if it does not keep up with our global partners on legislative…

SHANGHAI: China’s yuan hovered near a two-week low against the dollar on Monday as upbeat manufacturing data partially offset some investor worries over heightened Sino-US trade tensions after President Donald Trump proposed extra tariffs on Chinese goods. Trump’s additional 10% tariffs on Chinese goods will come into effect on March 4, while China is studying relevant countermeasures, state-backed Global Times said on Monday. Trade tensions had been one of the key drags on the yuan during Trump’s first term as the president, when a series of tit-for-tat US-China tariff announcements drove the Chinese currency down more than 12% against the…