Finance News: Latest Financial News, Finance News today in Bangladesh

Brokers, dealers ordered to bring back diverted funds to core business

The securities regulator instructed 57 stock brokers & dealers of the Dhaka bourse to bring back funds worth Tk 4 billion within three months into their core business from real estate where the money had been diverted. The core business of the intermediaries entails buying and selling securities from their...

Stocks rebound as investors show increased appetite in blue chips

Stocks rebounded strongly on Thursday, after a sharp decline the day before, as investors showed buying appetite in selective blue chip shares in anticipation of a turnaround.The market recovery was mostly supported by price appreciation of blue chip stocks as bargain hunters took control to seize opportunities of quick profits...

Foreigners sell nearly $1b in Indian equities in 2 days since budget

BENGALURU, July 25 (Reuters): Foreign investors sold nearly $1 billion worth of Indian equities in the two days since the government raised taxes on derivatives trades and on capital gains from equity investments in its annual budget.Foreign portfolio investors (FPIs) net sold shares worth 81.06 billion rupees ($968 million) on...

Khairul Alam re-elected chair of AB Bank

Barrister Khairul Alam Choudhury has been re-elected as AB Bank's chairman for the second consecutive term, according to a press release.Mr. Choudhury is a senior lawyer of the Supreme Court of Bangladesh. He completed his graduation from the University of Wolver Hampton, UK in 2001 and post-graduation from the City...

LPG sales boom as unrest fuels demand

Sales of LPG (liquified petroleum gas) witnessed a boom against the backdrop of the prolonged unrest affecting the country, taking advantage of the fact that prepaid and smart prepaid gas consumers are facing obstacles to recharging their balances, reports UNB.According to sources in the LPG operators, following chaotic situation centering...

Dettol, ToguMogu to promote better health for new mothers, children

Dettol, leading household name in Bangladesh, has recently announced its partnership with ToguMogu, the largest Bangladeshi parenting app, to promote better health for new mothers and children, reports UNB.The signing ceremony was held at the Reckitt's corporate office in Gulshan recently.This collaboration aims to leverage the strengths of both organisations...

IFIC Bank launches 'IFIC Islamic'

IFIC Bank launched 'IFIC Islamic,' a shariah-compliant full range of Islamic banking services,aiming to offer comprehensive Islamic financial solutions alongside its conventional banking services. The official inauguration of 'IFIC Islamic' took place on Thursday, July 25, 2024, at the multipurpose hall of IFIC Tower at 61 Purana Paltan, Dhaka. Salman...

Pak finance minister in Beijing to seek debt relief

ISLAMABAD, July 25 (Reuters): Pakistan's Finance Minister Muhammad Aurangzeb on Thursday arrived in Beijing to open talks on power sector structural reforms suggested by the International Monetary Fund (IMF), two government sources said.He held a meeting with his Chinese counterpart in Beijing, they said, and added that the finance minister...

China makes surprise cut to key lending rate

BEIJING, July 25 (AFP): China's central bank on Thursday unexpectedly cut a medium-term interest rate by the most in more than four years, marking the latest move by authorities to boost economic growth.The world's second-largest economy has encountered severe headwinds in recent years, as a heavily indebted property sector, sluggish...

Carrier's profit beats estimates on price hikes

NEW YORK, July 25 (Reuters): Carrier Global surpassed analysts' estimates for second-quarter profit on Thursday, benefiting from price hikes, resilient demand for its heating, ventilating and air conditioning products and aftermarket repair services.The air conditioner maker also said it plans to repurchase shares worth about $1 billion in the second...

Global investors scramble to dodge US election curveballs

LONDON, July 25 (Reuters): Investors are scrambling to shore up global portfolios against wild market swings ahead of the Nov. 5 US presidential election and backing out of assets stuck in the crosshairs of uncertainty, from big tech stocks to European government debt.With Republican Donald Trump and Democrat Vice-President Kamala...

Tesla's bleak margins sink shares as Musk hypes everything but cars

\Tesla shares tumbled 12 per cent on Wednesday, evaporating almost $100 billion in stock market value after CEO Elon Musk's talk of humanoid robots and driverless taxis failed to comfort investors worried about the electric car maker's shrinking profit margins, reports Reuters.Tesla posted its lowest quarterly profit margin in five...