Author: Finance for Sight

DAMASCUS: Israel struck the area of Syria’s southern city of Daraa, the state news agency SANA reported, with a war monitor saying the latest Israeli attack targeted a military site. “Israeli occupation jets launch air strikes targeting the surroundings of Daraa city,” said Damascus’s official news agency SANA, without immediately providing further details. The Syrian Observatory for Human Rights monitor said Israel targeted a military site once belonging to ousted president Bashar al-Assad’s army but now used by the forces of Syria’s new authorities. The Britain-based Observatory reported that a fire broke out, with ambulances rushing to the scene amid…

Pakistan’s current account (C/A) posted a deficit of $12 million in February 2025, against a surplus of $71 million recorded in the same month the previous year, data released on Monday by the State Bank of Pakistan (SBP) showed. On month-on-month (MoM) basis, the C/A posted a recovery from a deficit of $399 million (revised) in January 2025. Overall, the figure takes Pakistan’s current account to a surplus of $691 million in the first eight months of the current fiscal year (8MFY25), in stark contrast to a massive deficit of $1.730 billion in the same period of the previous fiscal…

NEW DELHI: Indian Prime Minister Narendra Modi said U.S. President Donald Trump was ‘far more prepared’ for his second term, furnished with a clear roadmap, speaking in a podcast interview weeks ahead of reciprocal tariffs planned by Washington. India is among the trading partners set to face the tariffs from April, which threaten to cause distress to its exporters in industries from automobiles to agriculture. After Modi and Trump met last month, the two nations agreed to resolve tariff rows and work on the first segment of a deal by the fall of 2025, aiming to reach two-way trade of…

LONDON: Oil traded higher on Monday after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping while Chinese economic data fuelled hopes for higher demand. US President Donald Trump launched military strikes against the Houthis on Saturday over the group’s attacks against Red Sea shipping. One US official told Reuters the campaign might continue for weeks. Brent futures rose 76 cents, or 1.1%, to $71.34 a barrel by 1315 GMT while US West Texas Intermediate crude futures gained 65 cents, or 1%, to $67.83. Chinese economic data also supported prices. Retail…

SANAA: Yemen’s Houthi rebels said they attacked an American aircraft carrier group twice within 24 hours as they prepared for huge rallies on Monday after US strikes left dozens dead. The response from the Houthis follows attacks on Saturday ordered by President Donald Trump that hammered the rebel-held capital, Sanaa, and several other areas, killing 53 people, according to the rebels. The United States struck the Houthis over their repeated attacks on Red Sea shipping sparked by the Gaza war, which have put a major strain on the vital trade route. The rebels said they had hit back by firing…

PARIS: Frightened by the prospect of US security disengagement and three years of Moscow’s war against Ukraine, European countries are debating reinstating compulsory military service to boost their defences in the face of Russian aggression. Russian leader Vladimir Putin’s invasion of Ukraine in 2022 caught Europe off guard, and fears about the strength of NATO surged further after US President Donald Trump upended the transatlantic alliance, saying Europe must take care of its own security. Both military analysts and European governments acknowledge that the threat of Russian aggression is real, today even more so than three years ago. “The Russian…

NAIROBI: Kenya’s shilling weakened slightly on Monday, and was expected to ease further due to slowing dollar inflows, especially from non-governmental organisations, traders said. At 0655 GMT, the shilling traded at 129.35/65 per dollar, compared with Friday’s closing rate of 129.00/30. Kenyan shilling broadly steady, LSEG data shows The International Monetary Fund said on Monday they will discuss a new lending programme for Kenya, with both sides agreeing to abandon a ninth review of the current $3.6 billion loan.

WASHINGTON: There are “no guarantees” there will not be a recession in the United States, although there could be an adjustment, Treasury Secretary Scott Bessent said in an interview that aired on Sunday. But Bessent, speaking to NBC’s “Meet the Press,” ruled out the chance of a financial crisis. US stock markets closed down sharply last week amid mounting uncertainties arising from President Donald Trump’s frequently shifting policies, including tariff threats against the biggest US trading partners. Asked whether he could guarantee there would be no recession while Trump was in power, Bessent replied: “There are no guarantees. Who would…

LONDON: Gold soared above $3,000 for the first time ever on Friday, as investors flocked to the asset, seen as a safe-haven, amid uncertainty over the fallout of US tariffs. Gold rises as tariff uncertainty, cooler inflation data lend support In morning deals, gold rose 2.94 percent to $3,000.85 per ounce, a day after it surpassed its late February record.

WASHINGTON: The Committee to Protect Journalists urges United States congressional leaders to protect the US Agency for Global Media (USAGM) after President Trump signed an executive order on Friday aimed at dismantling the parent of Voice of America and six other federal agencies. “It is outrageous that the White House is seeking to gut the Congress-funded agency supporting independent journalism that challenges narratives of authoritarian regimes around the world,” said CPJ Program Director Carlos Martinez de la Serna in New York. “We call on congressional leaders to protect this critical agency, which provides uncensored news in countries where the press…