Gold prices drop by Tk1,166 per bhori
Jewellers in the country have reduced gold prices by Tk1,166 per bhori or 11.664 grams. Bangladesh Jewellers Samity (Bajus) came up with the decision on Monday as a result of gold price dip in the global market. According to the new rate, 22-carat (11.664gm) gold will cost Tk77,682. Besides, 21-carat gold will cost Tk74,183 while 18-carat gold will be available at Tk63,568 and gold acquired in the traditional method will cost Tk53,051.Bajus has kept the price of silver unchanged. Each bhori of 22-carat silver will be sold at Tk1,516, while 21-carat and 18-carat silver are still available at Tk1,435 and Tk1,225 respectively. The prices of silver acquired in traditional methods will remain at Tk 933 per bhori.
Profit-booking hits stock trading
Stocks slipped into the red on Monday, snapping a four-day winning streak, as the risk-averse investors opted for booking profit on quick-gaining issues. The market opened lower and the downward trend continued until the end of the session amid profit-taking, eventually ending over 16 points lower. DSEX, the prime index of Dhaka Stock Exchange, went down by 16.32 points or 0.24 per cent to settle at 6,666, after gaining 201 points in the past four consecutive sessions. The market turnover fell to Tk 5.93 billion on the country’s premier bourse, down by 34 per cent over previous day’s mark of Tk 8.95 billion. Market analysts said as many stock prices went up sharply in the past four trading days backed by institutional support, the risk-averse investors favoured profit booking.The general insurance, engineering and banking sectors tried to add some points to the indices, but failed to offset the losses of other sectors. Prices of 42 insurers out of 53 listed insurance companies rose with eight insurers in the day’s top 10 gainers’ list.The Chittagong Stock Exchange (CSE) also ended lower with the CSE All Share Price Index – CASPI -losing 46.68 points to settle at 19,599 and the Selective Categories Index – CSCX -falling 28 points to close at 11,761.
City Bank joins UN-convened Net-Zero Banking Alliance
City Bank has recently joined the Net-Zero Banking Alliance (NZBA), an industry-led, UN-convened alliance of banks worldwide, in line with its commitment to a greener planet. City Bank is committed to align its lending and investment portfolios with net-zero emissions by 2050, following the temperature goals of the Paris Agreement. To attain the global targets set through the Paris Agreement and the broader United Nations Sustainable Development Goals (SDGs), in light of the government’s Intended Nationally Determined Contributions (INDC) and Sustainable Finance Policy of the central bank of Bangladesh, City Bank incorporates responsible financing in its lending practices and steers customers’ Environmental, Social, and Governance (ESG) investments for the betterment of people and planet. It looks forward to engaging with its clients as an NZBA member bank to support them in their low-carbon transition plans and accelerate action on climate.