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

Buoyed investors drive stocks up 306pts, highest in more than a decade

The prime index of the Dhaka Stock Exchange (DSEX) climbed a whopping 306 points on Thursday, the biggest single-day jump since the introduction of the new index in January 2013, as more and more investors joined the rally with high hopes.DSEX, the core index of the Dhaka Stock Exchange, shot...

BSEC slams fines above Tk 261m on individuals, institutions

The stock market regulator has slammed a fine worth Tk 100,000 on Snigdha Equities for violating three margin related rules.The Bangladesh Securities and Exchange Commission (BSEC) made the regulatory decision public for July this year through its website on Thursday.It conducted an investigation in October last year and found that...

Investors feel the pinch of thriftier consumers on company profits

MILAN, Aug 8 (Reuters): Investors in large consumer-goods companies are having to up their stock-picking game, as a post-pandemic spending splurge dries up and increasingly price-sensitive shoppers start to erode corporate pricing power.Profit warnings in sectors ranging from luxury to food and airlines have fed into worries about a slowdown...

Ethiopia's securities exchange to start operations in October

ADDIS ABABA, Aug 8 (Reuters): Ethiopia's securities exchange is expected to start operations in October, its chief executive was quoted as saying by state-affiliated media on Thursday.The establishment of a bourse is part of Prime Minister Abiy Ahmed's push to open up the country - which is heavily controlled by...

Slumping US tech stocks tempt some buyers to brave rocky market

NEW YORK, Aug 8 (Reuters): Investors are tiptoeing back into shares of US tech stocks following a sharp tumble, even as some still-elevated valuations threaten to punish dip buyers if markets stumble again.After a searing rally this year, the tech-heavy Nasdaq 100 is down more than 13 per cent from...

Tech stocks await AI's real reckoning

NEW YORK, Aug 8 (Reuters Breakingviews): The artificial intelligence boom was big on the way up, and it has already been big on the way down. A selloff in technology stocks wiped around $3 trillion of paper wealth from the industry in under a month. The rout looks more driven...

Gulf bourses end mixed on regional tensions, US data

Stock markets in the Gulf ended mixed on Thursday, with most posting weekly losses amid geopolitical tensions in the Middle East and traders awaiting economic data for insights into the US Federal Reserve's policy path, reports Reuters.The killing of senior members of militant groups Hamas and Hezbollah last week raised...

Kakao founder indicted for stock manipulation

SEOUL, Aug 8 (AFP): The billionaire founder of South Korean internet conglomerate Kakao was indicted on Thursday for stock manipulation in his pursuit of buying K-pop powerhouse SM Entertainment.Kim Beom-su has been held since his arrest last month, accused of manipulating stock prices in an attempt to thwart a rival...

China auto market hits milestone as EVs, hybrids make up half of July sales

BEIJING, Aug 08 (Reuters): Half of all vehicles sold in China in July were either new pure electric vehicles (EV) or plug-in hybrids, industry data showed, a milestone that underscores how far the world's biggest auto market has leapt ahead of Western counterparts in EV adoption.Sales of so-called new energy...

Shopify beats revenue estimates on AI boost

TORENTO, Aug 08 (Reuters): Shopify beat analysts' estimates for second-quarter revenue and forecast an upbeat current quarter as its e-commerce services attracted more merchants following the launch of AI-enabled tools, sending its US shares up 17 per cent before the bell.The Canadian company, which helps small and medium businesses build...

Siemens profits up on software, infrastructure businesses

FRANKFURT, Aug 08 (AFP): Germany industrial giant Siemens said Thursday its profits rose sharply in the third quarter due to a strong performance from its software and infrastructure businesses, and confirmed its full-year outlook.From April to June, net profit came in at 1.98 billion euros ($2.2 billion) -- up about...

Lilly lifts annual sales forecast by $3b

NEW YORK, Aug 08 (Reuters): Eli Lilly raised its annual sales forecast by $3 billion on Thursday, driven by surging demand and ramped up manufacturing capacity for its popular weight-loss drug Zepbound, lifting its shares more than 10 per cent premarket.The drugmaker also raised its annual profit forecast and said...

India's consumer goods sales hit over one-year low

NEW DELHI, Aug 08 (Reuters): Indian consumer products' sales slowed sharply to a more-than-one-year low from April to June due to softening demand for personal care products and packaged wheat flour, especially in urban areas, market researcher NielsenIQ said on Thursday.The overall sales volume growth slowed to 3.8 per cent...