Author: admin

KYIV, Ukraine (AP) — Ukraine and Russia targeted each other with long-range strikes, officials said Monday, amid continuing uncertainty about whether an agreement to stop their more than three-year war is within reach at the start of what America’s top diplomat called a “very critical” week.The Russian Defense Ministry said its forces downed 119 Ukrainian drones overnight, most of them over Russia’s Bryansk border region. In Ukraine, air raid sirens rang out across the country Monday morning. There were no immediate reports of casualties or damage.The outcome of a push by U.S. President Donald Trump’s administration to swiftly end the…

VATICAN CITY (AP) — Cardinals arriving for the first day of informal meetings after Pope Francis’ funeral were swarmed at the city-state’s gates by journalists eager for hints of whether any consensus was building around the election of a successor. A date for the start of the highly anticipated conclave could come as soon as Monday.In a chaotic scene, journalists shouted out questions about the mood inside, whether there was unity, and when the conclave would begin. A reporter for a satirical Italian television program repeatedly asked whether an Italian cardinal who has been convicted by the Vatican criminal court…

The Pakistan Stock Exchange (PSX) opened the week with a strong buying spree, as its benchmark KSE-100 Index gained over 1,100 points during intra-day trading on Monday. At 10:15am, the KSE-100 was hovering at 116,583.23, up by 1,113.89 points or 0.96% against the previous close. On Friday, the benchmark index had closed at 115,469.35. A rise in tensions between Pakistan and India following Pahalgam attack kept the stock market under pressure as the KSE-100 declined by 1.57% last week. “This decline can be attributed to cross border tension with India and futures rollover week. Other development during the outgoing week…

Selling returned to the Pakistan Stock Exchange (PSX) after a positive start, as the KSE-100 Index went into the negative territory to lose over 1,400 points during trading on Monday. The KSE-100 opened the session positive, hitting an intra-day high of 116,658.95 during the initial hours. However, selling pressure in the latter hours pushed the index to an intra-day low of 113,867.81. At close, the benchmark index settled at 114,063.90, down by 1,405.45 points or 1.22%. “Today’s trading session witnessed a classic tug-of-war between bulls and bears. The index opened on a positive note, gaining strong momentum in the early…

Bears took control of the trade floor on Monday as shares at the Pakistan Stock Exchange (PSX) reversed their short-lived gains in intraday trade, declining more than 1,400 points after a week of volatility due to heightened tensions between Pakistan and India. The benchmark KSE-100 index climbed by 941.79 points, or 0.82 per cent, to stand at 116,411.13 from the previous close of 115,469.34 at 10:05am. However, at 3:03pm, selling pressure ensued as the index decreased by 969.19 points, or 0.84pc, to stand at 114,500.15 from the previous close. Finally, the index closed at 114,063.90, down by 1,405.44 points or…

This article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersGood morning. While the financial world has been laser-focused on one geopolitical crisis — the trade war — two others are heating up in Asia. China is provoking the Philippines in the South China Sea, and tensions between India and Pakistan are high after killings in Kashmir. Unhedged tends to play down the market impact of geopolitics. But this is, at the very least, seriously bad…

China’s top general He Weidong missed another top political gathering on Friday amid speculation about his whereabouts over the past few weeks.Beijing has not offered an official explanation for his absence, although his absence is not expected to affect China’s political stability, according to an analyst.He, the second-ranked vice-chairman of the powerful Central Military Commission (CMC) and one of the 24-member of the Communist Party Politburo, last appeared in public on March 11.He was absent from a Politburo study session presided over by Chinese President Xi Jinping on Friday, according to footage made public by state broadcaster CCTV on Saturday.…

Hong Kong’s lived-in home prices fell for a fourth straight month in March, dragging a key market indicator to the lowest level in more than eight years, as the threat of a global tariff war stoked economic uncertainty and sapped investment appetite.Prices in the secondary market declined 0.49 per cent last month, according to an index published by the Rating and Valuation Department on Monday, following a 0.56 per cent setback in February. The index has retreated a cumulative 1.7 per cent for the quarter to the level last seen in July 2016.Since the city’s housing market peaked in September…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldIn 2019, I wrote a column about the coming “dollar doomsday scenario” in which a fundamental shift in globalisation and towards a post-Bretton Woods system would lead to a fall in both the value of the US dollar and dollar assets. This would raise bond yields, as well as the price of gold and various foreign currencies.And here we are. The S&P may rise and fall on President Donald Trump’s daily mood swings, but the die for a new era…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldChinese oil traders are setting aside concerns over the long-term economic damage of a US trade war as they seek to profit from one of the short-term consequences: lower crude prices.Imports of crude oil into China surged in March and have continued to accelerate in April, according to analysts, as the country replenishes stocks despite expectations a weaker global economy will reduce demand.Kpler, a data company that tracks tankers sailing into China, said the country is importing nearly 11mn barrels…