There’s been a lot of skepticism towards the stock market’s strong year-to-date rally of 16%, especially amid the ongoing decline that started in August. But Bank of America equity strategist Savita Subramanian sees plenty of reasons for optimism, even as […]
Last month the South African stock market followed global equity markets lower (the FTSE/JSE Capped SWIX Index was down 4.8% month-on-month (MoM)), leaving local equities only slightly positive, up 2.8%, for the year-to-date (YTD) at end August. Mining stocks were […]
Gold prices extended losses to hit their lowest level in a week on Wednesday as U.S. Treasury yields and the dollar strengthened on expectations that interest rates are likely to remain high. Spot gold was subdued at $1,925.70 per ounce […]
The S&P 500 slumped on Tuesday to kick off the first trading day of a holiday-shortened week, weighed by a jump in crude oil prices. The Dow Jones Industrial Average lost 50 points, or 0.1%. The S&P 500 dipped 0.2%, […]
The country’s foreign exchange reserves are set to slip below $22 billion after clearing the import bills of $1.2 billion with the Asian Clearing Union (ACU) next week, according to Bangladesh Bank sources. The reserves stood at $23.06 billion as […]
The China Development Bank (CDB) has agreed to provide the African Export-Import Bank (Afreximbank) with a $400-million term loan facility to fund small and medium-sized enterprises (SMEs) across Africa. The agreement allows Afreximbank to deploy the facility to support African […]
Bangladesh will continue to enjoy duty-free access to Canada market till 2034 as per a bill passed in Canadian parliament in June. The Canadian government has extended duty-free market access to all developing countries that will benefit Bangladesh once it […]
The SEC says a fast-food employee obtained a $200,000 advance loan by making fraudulent deposits. Auntie Anne’s employee deposited the entire amount in Tesla, Nvidia, GameStop, AMC and other stocks. His broker caught on and liquidated the holdings a day […]
The BRICS group — Brazil, Russia, India, China and South Africa — on Thursday said it had invited six countries to join its ranks. South African President Cyril Ramaphosa made the announcement on X, the social media platform formerly known as Twitter. “We […]
National Bank of Kuwait – Egypt (NBK-Egypt) has posted EGP 1.57 billion (KWD 16.2 million) in half-year net profit, a 106.9% year-on-year (y-o-y) increase from EGP 756.5 million a year ago. NBK-Egypt said its net operating income in the six […]
