Stocks snap two-week gaining streak as political tensions worry investors
Stocks ended in the red in the outgoing week to Thursday, snapping the two-week gaining streak, as investor sentiment took a hit amid mounting political uncertainties surrounding the upcoming national election.As investors opted to realise their short-term gains, some sector-specific stocks, such as Sea Pearl Beach Resort & Spa Limited,...
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Inflation to dog world economy next year, postponing rate cut calls
BENGALURU, Oct 27 (Reuters): High inflation will dog the world economy next year, with three-quarters of over 200 economists polled by Reuters saying the main risk is that it turns out higher than they forecast, suggesting interest rates will also remain higher for longer.Several central banks are still expected to...
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Global equity funds see big outflows amid US yield worries
Global equity funds suffered significant outflows in the seven days to October 25, hit by worries over higher US bond yields and caution over the war in the Middle East, reports Reuters.Investors pulled out a net $7.46 billion from global equity funds during the week, extending outflows into a sixth...
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Sea Pearl Beach Resort profit surges 334pc on tourism recovery
Sea Pearl Beach Resort & Spa Limited posted a 334 per cent surge in its profit for the fiscal year 2023, compared to the previous fiscal, as tourism industry made a recovery from the hardships of the COVID pandemic.The company has reported a net profit of Tk 701.56 million for...
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Investors scoop up tech stocks and long-dated Treasuries: BofA
LONDON, Oct 27 (Reuters): Investors have poured money into beaten-down, long-dated US Treasuries and bruised tech stocks in recent days, BofA Global Research said in a note on Friday.There were $5.6 billion of inflows to long-duration Treasury funds in the week to Wednesday, the largest on record, while inflows to...
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