Author: Finance for Sight

GAZA CITY: Hamas accused Israel Saturday of “committing the war crime of collective punishment” by halting aid to Gaza for a seventh day, saying it also impacted Israeli hostages still held there. On Sunday, Israel announced it was blocking aid deliveries to Gaza until Palestinian fighters accepted its terms for an extension of the ceasefire which had largely halted more than 15 months of fighting. The first phase of the truce, which ended on March 1, had enabled the entry of vital food, shelter and medical assistance. Under the first phase, Gaza fighters handed over 25 living hostages and eight…

Pakistan’s chief crypto advisor Bilal bin Saqib has said that the Pakistan Crypto Council recognises the country’s strong position as one of the top 10 nations globally in crypto adoption and that the council will work to recognise crypto as a strategic asset. As Pakistan moves toward formalising its stance on cryptocurrency, the government on Wednesday announced the appointment of Bilal bin Saqib as the Chief Advisor to the Finance Minister for the Pakistan Crypto Council. Bilal’s appointment “marks a significant step forward in Pakistan’s commitment to embracing the transformative potential of digital currencies, ensuring financial security, mitigating risks, and…

SEOUL: Impeached South Korean President Yoon Suk Yeol was released from detention on Saturday after a court voided his arrest on procedural grounds – but he remains under investigation over his declaration of martial law. The suspended president, who was detained in a dawn raid in January on insurrection charges over his December 3 attempt to subvert civilian rule, walked out of the detention centre smiling, before bowing deeply before a small crowd of cheering supporters. “I bow my head in gratitude to the people of this nation,” Yoon said in a statement released through his lawyers. A court had…

After jumping in the previous session, gold prices in Pakistan decreased, in line with their fall in international rates. In the local market, gold price per tola clocked in at Rs306,000 after it declined by Rs1,000 on Saturday. As per rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs262,345 after it registered a decrease of Rs858. On Friday, gold price per tola increased by Rs3,000 to settle at Rs307,000 in Pakistan. The international rate of gold increased on Saturday. As per APGJSA, the rate was at $2,910 per ounce (with a premium…

JERUSALEM: More than 50 freed Israeli hostages urged Prime Minister Benjamin Netanyahu to fully implement the Gaza ceasefire deal and secure the release of those still held in the Palestinian territory. “We who have experienced the inferno know that a return to war is life-threatening for those still left behind,” a group of 56 freed hostages said in a letter posted on the social media platform Instagram on Friday evening. “Implement the agreement in full, in one single manoeuvre.” Among those to sign the letter was Yarden Bibas, whose wife and two young sons died while held captive in Gaza.…

GENEVA: The UN envoy for Syria voiced alarm Friday at reports of clashes and killings in coastal areas between Syrian caretaker authority forces and elements loyal to toppled president Bashar al-Assad’s regime. “While the situation remains fluid and we are still determining the precise facts, there is clearly an immediate need for restraint from all parties,” Geir Pedersen said in a statement. He also called for “full respect for the protection of civilians in accordance with international law”. His comment came after the fiercest attacks on the new authorities since Assad was ousted in December. The Syrian Observatory for Human…

Nestle India said on Friday it received a warning from the country’s markets regulator for a breach of insider trading regulations “by a designated person of the company”. The Indian arm of Swiss food giant Nestle said its compliance officer received an administrative warning letter from the Securities and Exchange Board of India (SEBI) on Thursday. Nestle India shareholders vote against rise in royalty to Swiss parent However, the firm stopped short of revealing details from the letter or about the person. Nestle India “would like to categorically assert that this information has no impact on the financial and operational…

WASHINGTON: US President Donald Trump said he wants to negotiate a nuclear deal with Iran and sent a letter to its leadership on Thursday saying he hoped the Islamic Republic, arch foe of longtime U.S. ally Israel, would agree to talk. “I said I hope you’re going to negotiate, because it’s going to be a lot better for Iran,” Trump said in the interview with Fox Business Network broadcast Friday. “I think they want to get that letter. The other alternative is we have to do something, because you can’t let another nuclear weapon.” There was no immediate response from…

Rupee’s Performance Against US Dollar Since 15 Jan 2025 The Pakistani rupee recorded marginal decline against the US dollar, depreciating 0.05% in the inter-bank market on Friday. At close, the rupee settled at 279.97, a loss of Re0.15 against the greenback. On Thursday, the rupee had closed at 279.82. Internationally, the US dollar wallowed near a four-month low on Friday as ever-shifting tariff policies fanned uncertainty and increased concern about growth prospects for the world’s largest economy, leaving investors grasping for jobs data due later in the day. Another reprieve of levies aimed at Mexico and Canada announced by US…

LONDON: The United States is planning to charge fees for docking at US ports on any ship that is part of a fleet that includes Chinese-built or Chinese-flagged vessels and will push allies to act similarly or face retaliation, a draft executive order stated. The administration of US President Donald Trump is drafting the executive order in a bid to resuscitate domestic shipbuilding and weaken China’s grip on the global shipping industry. Addressing China’s growing dominance of the seas and diminishing US naval readiness is a rare point of consensus between US Republican and Democratic lawmakers. Chinese shipbuilders account for…