Author: Finance for Sight

WASHINGTON: US President Donald Trump said Monday that he and Russian leader Vladimir Putin are discussing “major” economic deals as part of discussions on ending the war started by Moscow’s invasion of Ukraine. “I am in serious discussions with President Vladimir Putin of Russia concerning the ending of the War, and also major Economic Development transactions which will take place between the United States and Russia. Talks are proceeding very well!” Trump posted on his Truth Social platform. Trump issued the statement after being joined by French President Emmanuel Macron at the White House for a conference call with other…

BRUSSELS: Israeli Foreign Minister Gideon Saar called for a constructive dialogue but braced for criticism from some European countries as he arrived for talks on Monday in Brussels. The Israeli minister is meeting senior European officials, reviving a dialogue with the European Union as the bloc considers a role in the reconstruction of Gaza following last month’s fragile ceasefire deal. “I’m looking for a constructive dialogue, an open and honest one, and I believe that this is what it will be,” Saar told reporters on arrival. “We know how to face criticism,” he said, adding “it’s okay as long as…

Finance Minister Muhammad Aurangzeb on Monday reaffirmed the government’s commitment to economic reforms, highlighting the urgency of restructuring state-owned enterprises (SOEs) to curb mounting losses. Following his address at the “Pakistan Banking Summit 2025” held in Karachi, the finance minister spoke to the media. He said the government faces Rs1 trillion in losses from SOEs, which necessitates privatisation and SOE reforms. “At this point, reforming the SOEs and moving forward with the privatisation is the right thing to do for the country,” he said. Budget preparations commence in consultation with traders: Aurangzeb The finance minister reiterated that the government intends…

ROME: The United Arab Emirates plans to invest $40 billion in Italy, the two countries said at a bilateral summit in Rome, without providing any time frame. Italian Prime Minister Giorgia Meloni has pursued stronger ties with Gulf countries since taking office in 2022, ignoring concerns over human rights issues raised by political opponents. Under her watch, Italy lifted arms sales embargoes for the UAE and Saudi Arabia imposed by previous governments, linked to the war in Yemen. On Monday, Meloni welcomed UAE President Sheikh Mohammed bin Zayed Al Nahya on a state visit to Rome, and the pair pledged…

Gold prices soared to a fresh record high in Pakistan on Monday, in line their increase in the international rates. In the local market, gold price per tola reached Rs309,500 after a single-day rise of Rs1,500. Similarly, 10-gram gold was sold at Rs265,346 after it registered an increase of Rs1,286, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Saturday, gold price per tola gained Rs1,000 to settle at Rs308,000 in Pakistan. Internationally, gold prices retreated on Monday as traders locked in profits after recent record highs, with attention shifting to a key US inflation…

BRUSSELS: Europe must support Ukraine more than ever, its foreign policy chief said on Monday, as the bloc agreed to impose more sanctions against Russia ahead of a flurry of meetings in Brussels, Kyiv and Washington this week. European officials have been left flat-footed by US President Donald Trump’s decisions to hold talks with Russia – spurning both Kyiv and Europe. “We have to support Ukraine right now, more than ever,” European Union foreign policy chief Kaja Kallas said ahead of a meeting of EU foreign ministers in Brussels. The 16th package of sanctions against Russia, which the ministers agreed…

DHAKA: Bangladeshi students, who were at the forefront of last year’s protests that ousted then Prime Minister Sheikh Hasina, are set to launch a political party this week, two sources with direct knowledge of the development said. The Students Against Discrimination (SAD) group spearheaded the protests that began as a student-led movement against public sector job quotas but quickly morphed into a broader, nationwide uprising that forced Hasina to flee to India as the unrest peaked in early August. The student group is finalising plans to launch the new party during an event likely on Wednesday, said the sources who…

Australian shares edged lower on Monday, hurt by a decline in technology stocks following a slump in software maker WiseTech, while softer underlying prices pushed commodity stocks lower. The S&P/ASX 200 index fell 0.2% to 8,279.5 points by 0031 GMT. The benchmark ended 0.3% lower on Friday. Logistics software maker WiseTech Global plunged 22% after four of its non-executive directors decided to step aside owing to differing views around the ongoing role of the company’s billionaire founder and former CEO Richard White. WiseTech was the worst performer on the benchmark index and the technology sub-index, which plunged 8% in its…

MOSCOW: The Kremlin on Sunday hailed dialogue between Donald Trump and Vladimir Putin — two “extraordinary” presidents — as “promising”, and vowed it would “never” give up territory seized in eastern Ukraine. Trump broke with Western policy earlier this month by phoning Putin to discuss how to end the Ukraine conflict — a call hailed by Moscow as ending three years of isolation for the Kremlin leader since he launched his full-scale offensive in February 2022. Top Russian and US officials then met in Saudi Arabia last week to discuss a “restoration” of ties and start a discussion on a…

After hitting record peak in the previous session, gold price per tola fell Rs2,000 in Pakistan, in line with their decline in the international rates. In the local market, gold price per tola reached Rs307,000 after it shed Rs2,000 on Friday. Similarly, 10-gram gold was sold at Rs263,203 after it registered a decrease of Rs1,714, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Thursday, gold price per tola gained Rs1,000 to reach an all-time high of Rs309,000 in Pakistan. The international rate of gold decreased on Friday. As per APGJSA, the rate was at…