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

Foreign fund outflow is feared to accelerate from market

The deepening political crisis and fierce clashes centering the students' non-cooperation movement severely affected the foreign investors' sentiment, which market experts fear will intensify their sell-offs.Tension heightened among overseas investors, as much as local investors, amid a new wave of violence followed by curfew from 6:00pm on Sunday.The students' movement...

Stocks see highest single day fall in 26 months

The Dhaka bourse on Sunday experienced the highest single day fall in 26 months as a majority of the listed securities plunged amid the countrywide unrest centering the quota reform movements.On the day, only four securities, including a junk stock, experienced appreciation on the Dhaka Stock Exchange (DSE).Subsequently, the market...

Flaring economic worries threaten US stocks rally

NEW YORK, Aug 4 (Reuters): Economic fears are roiling Wall Street, as worries grow that the Federal Reserve may have left interest rates elevated for too long, allowing them to hurt US growth.Alarming economic data in recent days have deepened those concerns. US job growth slowed more than expected in...

Saudi Arabia launches 6th round of 'Sah' savings

RIYADH, Aug 4 (Arab News): Saudi Arabia has launched the sixth round of its subscription-based savings product, Sah, for August, offering an appealing return of 5.48 percent.This initiative, which began on Aug. 4 and will continue until Aug. 6, aims to bolster financial stability and encourage saving among Saudi citizens.Sah,...

Wall Street sees bigger 2024 Fed easing after soft jobs report

A surprisingly weak US employment report for June has turned Wall Street confidence on a soft landing into near panic that a recession is looming, prompting major firms to change forecasts for Federal Reserve easing this year to more aggressive interest rate cutting, reports Reuters.Employers added just 114,000 jobs in...

China issues plan to boost household consumption

BEIJING, Aug 04 (AFP): China has issued a set of directives aimed at boosting household consumption, a weakness weighing on growth in the world's second-largest economy, with the plan targeting sectors including child and elder care, and food and beverage.Leaders including President Xi Jinping pledged last month to help boost...

Berkshire halves Apple stake, boosts cash to $277b

WASHINGTON, Aug 04 (Reuters): Warren Buffett appears to have soured on stocks, letting cash at Berkshire Hathaway soar to nearly $277 billion and selling about half its stake in Apple, even as the conglomerate posted a record quarterly operating profit.Berkshire's results released on Saturday suggest the 93-year-old Buffett, one of...

Oman’s foreign reserves increase by 9pc

RIYADH, Aug 04 (Arab News): Oman's foreign assets reached 7.37 billion Omani rials ($19.1 billion) by the end of May, reflecting a 9 per cent increase from the previous year and indicating economic growth and stability. This surge underscores a solid buildup of reserves, positioning Oman well in the global...

EV transition worries French car industry workers

VOUZIERS (France), Aug 04 (AFP): As France faces a 2035 deadline to phase out new combustion engine cars, workers in the industry worry their days might be numbered too.While there is plenty of optimism in certain regions of France, in particular in the north of the country where a "Battery...

Maruti leads drop in Indian carmakers' sales to dealers

BENGALURU, Aug 04 (Reuters): India's top three carmakers by sales, on Thursday, reported a drop in car sales to domestic dealers in July as pent-up demand from last year began to taper off.Hyundai Motor India's sales to dealers dropped 3.3 per cent in July, the first decline in the fiscal...

Volkswagen profit dips on slowing Chinese demand

FRANKFURT, Aug 04 (AFP): German automaker Volkswagen pledged Thursday to focus on cutting costs following a drop in second-quarter profits as the group grappled with lower demand in China and restructuring expenses.The 10-brand auto giant reported a net profit of 3.6 billion euros ($3.9 billion) for the April-June quarter, a...