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Hedge funds suffer $32b of outflows in Q2

2022-10-06 00:00:00

Investors pulled $32 billion from hedge funds in the second quarter of 2022, spooked by inflation, geopolitical tensions and the war in Ukraine, according to a report from data provider Preqin, reports Reuters.The outflows were the largest that the $4.1...

Renewables grow to meet global electricity demands

2022-10-06 00:00:00

PARIS, Oct 5 (AFP): Electricity generation from fossil fuels would have risen by four percent if not for boosts in wind, solar and hydropower as the world's energy demand grew in the first half of 2022, a study found Wednesday.Renewable...

Russia says it should be part of Nord Stream leaks probe

2022-10-06 00:00:00

MOSCOW, Oct 5 (AFP): Moscow said Wednesday it should be part of the probe into leaks on the Nord Stream gas pipelines, after Sweden blocked off the area around the pipelines pending an investigation."There should really be an investigation. Naturally,...

Australia hikes rates less than forecast, boosting stocks

2022-10-06 00:00:00

SYDNEY, Oct 5 (AFP): Australia raised interest rates less than expected Tuesday, boosting stocks and dragging the local dollar lower, as officials grow concerned about a slowing global economy sparked by rising borrowing costs and surging prices.While the Reserve Bank...

UK's Truss rejects 'drift and delay' in defiant speech to Tories

2022-10-06 00:00:00

BIRMINGHAM, (United Kingdom), Oct 5 (AFP): Britain's Prime Minister Liz Truss is set Wednesday to close her party's tumultuous annual conference with an unabashed defence of "disruption" to counter economic "drift and delay".Just a month since she succeeded Boris Johnson,...

US private hiring picks up in September: ADP

2022-10-06 00:00:00

WASHINGTON, Oct 05 (AFP): Hiring by US firms accelerated slightly in September, but remained below the three-month average, according to data Wednesday from payroll firm ADP.Private employment increased by 208,000 last month as schools reopened and pandemic concerns receded, up...

European markets retreat

2022-10-06 00:00:00

European stocks retreated on Wednesday as the positive trend seen in global stocks in recent days faded, reports CNBC.The pan-European Stoxx 600 was down 0.9 per cent by mid-afternoon. Autos dropped 3.5 per cent to lead losses as the majority...

Asian stocks strengthen

2022-10-06 00:00:00

HONG KONG, Oct 5 (Reuters): Asian stocks rose on Wednesday as investors grew hopeful future global interest rate rises might become less aggressive amid early signs previous policy tightening was working to temper price pressures in some major world economies.MSCI's...

News Briefs (2022-10-06)

2022-10-06 00:00:00

bKash 'Science Festival' To promote and nurture the creativity and experimentation in science among the school students, bKash and BigganChinta, a leading science-related monthly publication, are going to organise 'bKash-BigganChinta Science Festival-2022' for the second time across the country. An...

Thai food producer Betagro to raise $464 million in IPO

2022-10-06 00:00:00

BANGKOK, Oct 5 (Reuters): Thai food company Betagro Pcl said in a stock exchange filing on Tuesday that it plans to raise at least 17.4 billion baht ($463.38 million) in an initial public offering (IPO) later this month.The IPO would...

IBBL OPENS ASKAR DIGHIR PAR BRANCH:

2022-10-06 00:00:00

 Islami Bank Bangladesh Limited opened its 388th branch at Askar Dighir Par in Chattogram on Tuesday. Maj Gen (Retd.) Engr Abdul Matin, Chairman of Risk Management Committee of the bank, inaugurated the branch as the chief guest while Mohammed Monirul...

Pharmacies to lose licence if sell antibiotics without prescription: Minister

2022-10-06 00:00:00

No pharmacies will be allowed to sell antibiotics without prescriptions of physicians and if they do so, their liscenses will be revoked, said Health Minister Zahid Maleque on Tuesday (October 4), reports UNB."The government is going to enact a new...

Massive Bangladesh Railway overhaul schemes in the offing

2022-10-06 00:00:00

The government has taken a massive move to upgrade the country's railway network as the sector is considered as the safest, comfortable, affordable and environment-friendly means for transporting passengers and goods, reports UNB.According to an official document, considering the importance...

CSE revises CSE-50 index

FE REPORT | 2022-10-06 00:00:00

Chittagong Stock Exchange (CSE) has revised its CSE-50 index on the basis of the performance of listed securities.During the semi-annual review of the index, the CSE has added a new company to the index after dropping one company. The newly...

DSE seeks BSEC's opinion on offloading of shares

FE REPORT | 2022-10-06 00:00:00

Dhaka Stock Exchange (DSE) wants to sit with the securities regulator to discuss ways to accelerate the process of offloading the exchange's shares on the capital market.The premier bourse has recently sent a letter to the Bangladesh Securities and Exchange...

Experts favour ‘target-oriented roadmap’ on clean energy

2022-10-06 00:00:00

A move by the government to review a 14-year-old renewable energy policy has been lauded by experts and industry stakeholders as Bangladesh is desperate to find out alternative sources of power generation amid a volatile global fuel market and gas...

Gold fallas as dollar retains upper hand

2022-10-06 00:00:00

Gold fell 1.0 per cent on Wednesday as the dollar regained traction and made bullion less appealing for other currency holders, while markets looked ahead to US jobs numbers for clarity on the Federal Reserve's rate hike path, reports Reuters....

WTO cuts 2023 global trade forecast as recession looms

2022-10-06 00:00:00

GENEVA, Oct 5 (AFP) : The World Trade Organization on Wednesday dramatically lowered its global trade forecast for 2023, as Russia's war in Ukraine and other shocks take their toll on the world economy.Presenting a revision of their annual trade...

Apparel makers urge diesel price cut

FE REPORT | 2022-10-06 00:00:00

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) urged the government to readjust the local diesel price, citing the decline in price of the fuel oil in the international market.It also said that the country's export-oriented readymade garment (RMG) industry and...

More than 500 injured as quake shakes Iran

2022-10-06 00:00:00

TEHRAN, Oct 05 (AFP): A 5.4 magnitude earthquake in northwestern Iran injured more than 500 people early Wednesday, most of them lightly, state media reported."The quake that hit at a depth of 10 kilometres (6.2 miles) in West Azerbaijan province...

Russia warns US of direct military clash risk over Ukraine war

2022-10-06 00:00:00

MOSCOW, Oct 05 (BBC/AP): The US's decision to send more military aid to Ukraine "increases the danger of a direct military clash" between Russia and the West, Moscow has warned.Russia's ambassador to the US, Anatoly Antonov, said it was an...

Residents 'thought it was a war'

2022-10-06 00:00:00

SEOUL, Oct 05 (Reuters): Hours after North Korea flew a ballistic missile over neighbouring Japan on Tuesday, residents in a South Korean seaside town were startled to see flames leaping from a nearby military base and missiles soaring into the...

Iran schoolgirls heckle paramilitary speaker

2022-10-06 00:00:00

TEHRAN, Oct 05 (BBC): A new video posted online appears to show schoolgirls heckling a member of Iran's feared paramilitary Basij force, after anti-government protests sweeping the country spread to the classroom.The teenagers are seen waving their headscarves in the...

Trump asks Supreme Court to intervene

2022-10-06 00:00:00

WASHINGTON, Oct 05 (AFP): Former US president Donald Trump asked the Supreme Court on Tuesday to intervene in the legal tussle over classified documents seized in the FBI raid of his Florida home.Trump urged the conservative-dominated court to stay a...

25 killed in India road crash

2022-10-06 00:00:00

NEW DELHI, Oct 05 (BBC/AP): At least 25 people have died after a bus plunged into a gorge in the northern Indian state of Uttarakhand.Officials said at least 40 were on board when the bus veered off the road and...

South Africa win over India in 3rd T20

2022-10-06 00:00:00

INDORE, Oct 05 (AFP): Rilee Rossouw hits his maiden Twenty20 International century to set up a 49-run consolation win for South Africa in the third match against India on Tuesday.The left-handed Rossouw made an unbeaten 100 in 48 balls to...

Indonesian leader says locked gates contributed to deaths

2022-10-06 00:00:00

MALANG, Indonesia, Oct 05 (AP): Indonesia's President Joko Widodo said on Wednesday that locked gates had contributed to the crush at the soccer stadium that left 131 dead and over 400 injured when police fired tear gas and set off...

Australia secure narrow win

2022-10-06 00:00:00

GOLD COAST, Australia, Oct 05 (AFP): Aaron Finch dropped to four in the batting order and found some confidence-boosting form Wednesday, hitting 58 to steer Australia to a three-wicket win over the West Indies in the opening Twenty20 international. The...

Bangabandhu Int'l Squash tourney kicks off in city

2022-10-06 00:00:00

The opening ceremony of the '2nd Bangabandhu International Squash Tournament-2022' was held at the Gulshan Club in the city on Wednesday. The tournament is sponsored by Ispahani Group for the second consecutive year, says a press release.The inaugural function was...

Shakib yet to join Tigers in New Zealand

2022-10-06 00:00:00

Bangladesh skipper Shakib Al Hasan has not yet New Zealand even though his side will play their opening game in tri-nation series in less than 48 hours.Due to Shakib's absence vice-captain Nurul Hasan Sohan was present at the trophy unveiling...