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

Berger Paints' profit drops on higher costs, foreign exchange loss

Despite higher sales, Berger Paints' profit dropped 1 per cent year-on-year to Tk 962 million in April-June this year, as higher operating costs and foreign exchange loss ate up a big chunk of the earnings.Berger, which follows the April-March financial year, made a profit of Tk 972 million in April-June...

DSE stocks slide on profit booking as week ends

The Dhaka bourse closed the week's last session with a sharp loss after a day of breaking the previous losing streak as selling pressure mounted to make profits. The Dhaka Stock Exchange (DSE) opened the day's session positively but soon the DSE broad index DSEX began to fall. A sign...

High interest rates have benefitted corporate America

LONDON, Aug 15 (Reuters): Logic suggests that US companies will benefit when the Fed's interest rate-cutting cycle gets underway, because they will pay less to service their debt, but counterintuitively, they may not see much of a net benefit at all this time around.When the Fed raised rates between March...

DHAKA BANK RECEIVES ISO CYBERSECURITY CERTIFICATION

Dhaka Bank PLC received the ISO 27032:2023 certification of the International Organization for Standardization (ISO), from the globally recognized certification body, Bureau Veritas, with IOTA Consulting Bangladesh serving as the consulting partner. Achieving the certification is a significant milestone in maintaining advanced cybersecurity standards, which no other bank in the...

SHAHJALAL ISLAMI BANK'S 879th EC MEETING HELD

The 879th meeting of the Executive Committee (EC) of Shahjalal Islami Bank PLC was held on August 14, 2024 at the bank's head office. The meeting was presided over by Akkas Uddin Mollah, the EC chairman of the Bank. The members of the committee discussed various issues related to investment...

AGRANI BANK HOLDS CERTIFICATE DISTRIBUTION CEREMONY

A certificate distribution ceremony of a 30-day foundation training course of 84th and 85th batches of Agrani Bank PLC was held in the city on Wednesday. Agrani Bank Chief Executive Officer (CEO) Md Murshedul Kabir distributed the certificates among the participants as the chief guest. Deputy Managing Director Wahida Begum,...

Asian stocks follow Wall Street climb

HONG KONG, Aug 15 (AFP): Asian markets mostly mirrored positive strides on Wall Street in early trade Thursday, as easing US consumer inflation buoyed hopes that a big interest rate cut was around the corner and economic growth in Japan outpaced expectations.The eagerly awaited US consumer price index (CPI) data...

Summer market shock not quite over as investors brace for more turmoil

LONDON, Aug 15 (Reuters): Big investors are bracing for this summer's stock market rout to run into the autumn, fearing a broader wave of selling will follow the turmoil sparked by US recession concerns and the Bank of Japan wrong-footing currency speculators.The sudden reversal of crowded equity and foreign exchange...

Shares of Trump's media firm near record low following his return to X

Shares of former US President Donald Trump's media company dipped and neared record lows on Wednesday, following weak quarterly results and the Republican presidential candidate's return to social media platform X, reports Reuters.Trump's dwindling lead in polls and election betting markets in recent weeks has also hit the stock, which...

China’s factory output slows, dashing speedy recovery hopes

BEIJING, Aug 15 (Reuters): China's factory output slowed for a third straight month in July, showing the recovery in the world's second-largest economy was losing steam, although the battered consumer sector perked up slightly as stimulus targeting households took effect.A mixed batch of data on Thursday pointed to a patchy...

Google brings AI answers in search to new countries

SAN FRANCISCO, Aug 15 (Reuters): Google parent Alphabet said on Thursday it was expanding its AI-generated summaries for search queries to six new countries, just two months after it rolled back some capabilities following a problem-riddled launch.The search giant made AI Overviews - which are displayed atop a search results...

UK economy continues recovery with 0.6pc growth

LONDON, Aug 15 (BBC): The UK's economy grew by 0.6 per cent between April and June as it continued its recovery from the recession at the end of last year.The latest figure was in line with forecasts and follows a 0.7 per cent increase in the first three months of...

Toyota bets big on hybrid-only models as EV demand slows

TEXAS, Aug 15 (Reuters): Toyota may be one of the slowest legacy automakers to develop electric vehicles but it could be the first to jettison cars powered only by gasoline.Almost three decades after launching the Prius, its pioneering gasoline-electric hybrid, Toyota is moving to convert most, and eventually maybe all,...

Abu Dhabi Global Market records 31pc surge

RIYADH, Aug 15 (Arab News): The number of operational entities in the Abu Dhabi Global Market rose to 2,088 in the first half of 2024, reflecting a 31 per cent surge compared to the same period in 2023.During the first half, ADGM - an international financial centre and free zone...

UBS puts $2b Credit Suisse real estate fund into liquidation

ZURICH, Aug 15 (Reuters): UBS has put a real estate fund of its former competitor Credit Suisse worth over $2 billion into an "orderly liquidation" as of Thursday, the Swiss bank said.The Credit Suisse Real Estate Fund International's total net assets were worth 1.88 billion Swiss francs ($2.17 billion) as...