Author: Finance for Sight

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…

JAKARTA: Malaysian palm oil futures rose on Wednesday, after two sessions of losses, mirroring movement in the Chicago soyoil market while the market awaits data from the Malaysian Palm Oil Board. The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange was up 21 ringgit, or 0.48%, to 4,370 ringgit ($983.13) a metric ton by the midday break. “The futures will try to recover some of yesterday’s drop before resuming its direction while waiting for next Monday’s MPOB data,” a Kuala Lumpur-based trader said. The Malaysian Palm Oil Board is scheduled to release its monthly data…

OTTAWA: Prime Minister Justin Trudeau told U.S. President Donald Trump on Tuesday that his tariffs on Canadian imports were “a very dumb thing to do” and said Ottawa was striking back immediately at its closest ally. Trudeau, who is stepping down at the end of the week, also accused Trump of wanting to ruin the Canadian economy. Speaking hours after Trump launched a trade war against Mexico and Canada, Trudeau announced immediate 25% tariffs on C$30 billion worth of U.S. imports. If need be, Canada will target another C$125 billion worth in 21 days’ time, he said. “There is absolutely…

NEW YORK: Wall Street stocks opened lower Tuesday as new US tariffs kicked in, spurring retaliatory moves by trading partners and investor unease about the effects on the economy. New US tariffs on Canadian, Mexican and Chinese goods went into effect overnight. All three countries have either imposed their own retaliatory tariffs or said they will. About 15 minutes into trading, the broad-based S&P 500 was down 1.1 percent at 5,785.57, below the level it traded on November 6, the day after Trump’s election win. The Dow Jones Industrial Average also dropped 1.1 percent to 42,712.06, while the tech-rich Nasdaq…

WASHINGTON: US President Donald Trump has suspended military aid to Ukraine, heaping pressure on Kyiv to agree to peace negotiations with Russia and prompting Europe to unveil an 800 billion euro plan to shore up its defense. The move comes just days after a stunning public clash between Ukrainian President Volodymyr Zelensky and Trump, who is seeking a rapid end to the war. Russia said the suspension of US-Ukraine aid was the “best contribution” to peace, Kremlin spokesman Dmitry Peskov said, adding that it was a “solution which could really push the Kyiv regime to a peace process”. Any disruption…