Stocks lose steam on profit-taking
Stocks closed this week lower, snapping an eight-week winning streak, as cautious investors rushed to book profits in quick-gaining stocks, particularly in the banking and blue-chip sectors.Market analysts attributed the correction to a wave of profit-taking after significant gains in recent weeks. Most bank stocks that rallied over 20 per...
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Global equity funds see outflows for 2nd week on tariff, economic concerns
Global equity funds came under selling pressure while safe-haven demand bolstered money market funds in the week through August 6, as US tariff announcements and data showing signs of weakness in the US economy fuelled risk aversion, reports Reuters. Investors sold off a net $7.82 billion worth of global equity...
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China ends tax exemption on bond interest income
SHANGHAI, Aug 8 (Reuters): China has reinstated value-added tax (VAT) on interest income from new bonds issued by government and financial institutions starting Friday, ending a long-standing tax break to ease growing fiscal pressure.The Ministry of Finance announced last week that the VAT exemption would no longer apply to interest...
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Bank Asia launches tree plantation programme
Bank Asia's Managing Director Sohail R K Hussain inaugurated a tree plantation programme by planting a sapling on the premises of Bank Asia Tower at Karwan Bazar in Dhaka recently. This initiative is a part of the 'Festival of Youth 2025' celebrations. Additional Managing Directors ANM Mahfuz and Nurullah Chaudhury...
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Singapore Exchange posts record profit, sees strongest IPO pipeline in years
SINGAPORE, Aug 8 (Reuters): Singapore Exchange (SGX) reported on Friday its highest annual earnings since its 2000 listing and said more than 30 companies are actively preparing to go public, signaling a revival in listings amid efforts to boost the country's equities market.Adjusted net profit for the year ended June...
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