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Stocks stay upbeat as blue chips keep rising

Stocks extended their rally for the eighth straight week, with the benchmark equity index surpassing 5,400 mark for the first time in 10 months, as buoyant investors continued to put fresh bets on blue chip shares.The improving macroeconomic factors, supported by healthy foreign exchange reserves, rising exports, and record remittance...

IDLC Finance sees 45pc profit surge in Q2 on higher investment income

IDLC Finance has reported an impressive 45 per cent year-on-year growth in profit for the second quarter (April-June) of this year, driven by higher investment income. The non-bank financial institution (NBFI) posted a profit of Tk 579 million in Q2, up from Tk 398 million in the same period last...

Microsoft reaches $4 trillion valuation after solid results

Microsoft hit $4 trillion in stock market value on Thursday, becoming the second publicly traded company after Nvidia to surpass that milestone following a blockbuster earnings report that showed its massive bets on AI are paying off, reports Reuters Strong results from Microsoft and Meta Platforms late on Thursday also...

Unilever beats sales forecasts as ice cream business shines

Dove soap maker Unilever beat forecasts for second-quarter underlying sales growth on Thursday, citing strong demand at its ice cream business which it will spin off later this year as part of an ongoing reorganization, reports Reuters.The company said the ice cream spin-off is set for mid-November. Unilever will retain...

US securities regulator lays out sweeping plans to accommodate crypto

The head of the US securities regulator unveiled sweeping plans to overhaul capital markets regulations on Thursday to accommodate cryptocurrencies and blockchain-based trading, in a major win for the digital asset industry, which has long pushed for tailored rules, reports Reuters.Securities and Exchange Commission Chair Paul Atkins said in remarks...

European equity funds log sharp outflows

European equity funds came under selling pressure in the week through July 30 as a rally in regional stocks cooled, with investors growing cautious over the uncertain economic implications of the US-EU trade deal and signs of weakening corporate earnings, reports Reuters.However, a record-setting rally on Wall Street drew investors...