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

Securities regulator needs overhaul to free it from political bias: DBA

The DSE Brokers Association (DBA) of Bangladesh placed a 30-point demand, including a massive overhaul of the securities regulator and immediate removal of corrupt officials to ensure good governance. The past two chairmen of the Bangladesh Securities and Exchange Commission (BSEC) failed to ensure transparency and accountability in the market....

Stock brokers admit failing to hold BSEC to account

Stock brokers have admitted their failure to hold the market watchdog to account for allowing listing of weak companies, one-sided regulatory decisions, and corruptions of its top officials in the last 15 years. "We acknowledge we could raise our voices at the right time. But the situation was not in...

Minister launches 'Shorot Offer'

Minister-MyOne Group has come up with 'Shorot Offer' for this autumn season, offering discounts on all products, including air conditioners (AC), refrigerators, and televisions, says a press release. Shorot Offer includes special discounts of up to 53 per cent on selected televisions. TVs of 24-inch and 32-inch Minister LED Deluxe...

Joe Biden to tackle helpline wait times in pro-consumer push

WASHINGTON, Aug 12 (Reuters): The Biden administration on Monday unvei-led new rules and efforts targeting consumer annoyances ranging from hard-to-cancel subscriptions, cumbersome insurance forms, and not being able to get a live customer service agent on the phone.The "Time is Money" initiative is aimed at cracking down on endless hold...

China's bond market rattled as central bank squares off with bond bulls

SHANGHAI/HONG KONG, Aug 12 (Reuters): China's bond market, the world's second largest, is on edge following a turbulent week in which the central bank started intervening heavily to stem a plunge in yields even as the economy is struggling.But die-hard investors say the bull market in government bonds still has...

Billions in dollar, euro notes reach Russia despite sanctions

LONDON, Aug 12 (Reuters): Around $2.3 billion in dollar and euro bills have been shipped to Russia since the United States and EU banned the export of their banknotes there in March 2022 following the invasion of Ukraine, according to customs data seen by Reuters.The previously unreported figures show Russia...

S Korea holds emergency meeting as EV fires stir consumer fear

SEOUL, Aug 12 (Reuters): South Korean officials met on Monday to discuss electric vehicle safety and whether to require car firms to disclose battery brands amid growing consumer concern after an EV blaze in an underground garage extensively damaged an apartment block.The fire on Aug. 1, which appeared to start...

StanChart folds industries team into M&A, cutting over 20 jobs

LONDON, Aug 12 (Reuters): Standard Chartered has folded its industries coverage team into its dedicated mergers and acquisitions advisory team, eliminating more than 20 roles globally to reduce duplication, a source with direct knowledge of the matter told Reuters.The move, which began on Friday, doubles the mergers and advisory team...

Vietnam plans electricity subsidies for EV charging stations

HANOI, Aug 12 (Reuters): Vietnam is planning to subsidise electricity prices for electric vehicle (EV) charging stations, as part of its efforts to promote the use of EVs and meet its energy transition commitments.The subsidy scheme is due to be submitted to the central government by mid-September for approval, the...

Asian stocks mostly rise as focus turns to US inflation data

HONG KONG, Aug 12 (AFP): Asian markets mostly rose Monday as investors tried to move on from last week's upheaval fuelled by US recession worries, with focus shifting to the release of key inflation and retail data.After a painful collapse fuelled by a big miss on US jobs creation, equities...

Adani Group shares lose up to $19b after Hindenburg accusations against regulator

BENGALURU, Aug 12 (Reuters): Adani Group companies lost as much as $19 billion in market value on Monday but recovered much of the losses after Hindenburg Research accused the head of India's market regulator of having links to offshore funds also used by Adani.The battle between Hindenburg Research and the...

BT shares jump as Bharti eyes quarter of telecoms group

LONDON, Aug 12 (AFP): Shares in British telecoms group BT jumped over six percent Monday after the conglomerate run by Indian tycoon Sunil Bharti Mittal agreed to buy almost one quarter of the company.BT said in a statement that Bharti plans to acquire the 24.5-percent stake in BT owned by...

Taiwan is punching well above its market weight

HONG KONG, Aug 12 (Reuters Breakingviews): Taiwan's markets are not falling in line. The MSCI index comprised of Taiwanese stocks has dropped sharply in recent weeks but, unlike its peers in Japan and South Korea, has not come close to reversing its rise for 2024. Indeed, its year-to-date gains of...

US stock index futures muted ahead of data-packed week with CPI in focus

US stock index futures were subdued on Monday, as investors braced for a data-packed week, with focus on US consumer prices that will provide strong cues about Federal Reserve's interest rate move in September, reports Reuters.Markets rounded off last week amid heightened volatility, beginning with a sharp selloff on a...