The Bangladesh Securities and Exchange Commission (BSEC), the regulatory body, and the country’s main stock market, the Dhaka Stock Exchange (DSE), will work together to develop the stock market. DSE informed the media about this information.
The Board of Directors of DSE went to congratulate Prof. Shibli Rubaiyat-ul-Islam on his re-appointment as BSEC Chairman on Tuesday. Then DSE sent a press release to the media and informed this information.
On behalf of the board of directors of DSE, Professor Dr. Hafiz Muhammad Hasan Babu felicitated the reappointed BSEC Chairman with flowers. At that time he was with the member of the board of directors Professor Dr. Abdullah Al Mahmud, Md. Afzal Hossain, Rubaba Daula, Md. Shahidul Islam, Kawsar Ahmed, Md. Shakeel Rizvi, Mohammad Shahjahan, Sharif Anwar Hossain, Richard de Rosario and managing director Dr. ATM Tarikuzzaman.
DSE Chairman Prof. Dr. Hafiz Muhammad Hasan Babu said that the re-appointment of Professor Shibli Rubaiyat-ul-Islam as the chairman of the capital market regulatory body Bangladesh Securities and Exchange Commission was the demand of time for the shareholders to keep the development intact. Your reappointment is an expression of the confidence the government has in your abilities
He said, we are sure that the stock market will achieve more success in the future with your leadership, wisdom and direction in the light of the experience of the past term. With your multifaceted professional experience and dynamic leadership in the corporate world, the current stock market will overcome all obstacles and move forward on the road to prosperity and build a developed and prosperous smart stock market.
At the same time, the stock market will act as a partnership for long-term financing of the industrialization of the country, which will further encourage domestic and foreign investors to invest in the stock market of Bangladesh. As Chairman of BSEC, I strongly hope that Dhaka Stock Exchange will move forward in the future with your cooperation – said Hasan Babu.
He said, on May 17, 2020, you assumed responsibility as the chairman of the Bangladesh Securities and Exchange Commission at a critical time in the country. During most of your tenure there were several global untoward events. For more than two years, the country fell into a great crisis as a result of the corona epidemic. The Russia-Ukraine war started soon after the corona virus. It has a negative impact on the economy of the country as well as the whole world For more than a year, the 12th National Parliament election has been hot and tense in the political circles.
He also said that despite the hostile conditions of full-time work, he has added SME market, bond market, Alternative Trading Board (ATB) to the stock market, started work to launch commodity exchange and derivative market. In addition, the initial public offering (IPO) process has undergone major changes. Also stopped the placement trade, changed the lottery. Efforts to strengthen the mutual fund and bond markets, as well as making government bonds tradable in the secondary market, are multifaceted initiatives.
Besides, you have highlighted the economy and stock market of Bangladesh through road-shows in different countries of the world to make the stock market of the country a world-class stock market and bring foreign investment. Your multiple action plans and innovative thinking about the stock market have caught the attention of the world court In view of this, you were elected as the vice chairman of the Asia Pacific region of the International Organization of Securities Commissions. It is the first time that the stock market of the country has gained glory – said the chairman of DSE.
He said, we think that you have the ability to bring positive changes by taking advantage of all the opportunities in your innovative way of thinking and exploiting all its possibilities as an operator in the current multifaceted challenges of the stock market.
Hasan Babu said, we strongly believe that joining the Bangladesh Securities and Exchange Commission, one of the regulatory bodies of the financial sector, in your second term will make the country’s stock market in a new form and a new form, one of the most attractive stock markets for domestic and foreign investors.
MAS/MAH/ASM
https://www.worldysnews.com/bsec-dse-will-work-together-to-develop-the-stock-market-2024-05-02-234805/
Apple’s Earnings: Setting the Stage for a Buyback Bonanza
Apple Inc. Faces Unusual Low Expectations Ahead of Second-Quarter Results
Apple Inc. is gearing up to report its second-quarter results after the close, and surprisingly, it is facing low expectations. The tech giant, known for its ability to outperform in all market conditions, has fallen behind its peers this year in terms of growth, AI narrative, and price competitiveness. This shift has set the stage for potentially less disappointment with a lowered bar, especially with a significant buyback announcement on the horizon.
Analysts' Insights and Expectations
According to Matt Stucky, chief portfolio manager at Northwestern Mutual Wealth Management, the current quarter doesn't carry high expectations. However, a positive outlook coupled with advancements in AI could lead to a significant expansion in valuation. Apple is considered a high-quality defensive stock with strong shareholder returns and cash flow, making it an attractive investment option.
Analysts anticipate Apple to allocate an additional $90 billion to its repurchase program, following the footsteps of other tech giants like Alphabet Inc. and Meta Platforms Inc. The company has already spent over $650 billion on stock buybacks since 2012, aiming to support its earnings amidst a projected nearly 5% revenue decline this quarter.
Market Performance and Growth Trends
Apple's revenue is expected to decline by almost 5% this quarter, marking its weakest rate in over a year. The tech industry as a whole is projected to experience an 8.6% revenue increase, highlighting Apple's underperformance in the current market landscape. The company's struggles are particularly evident in the Greater China region, where it faces challenges in iPhone sales against competitors like Huawei Technologies Co.
Despite its historical dominance, Apple's stock has declined by 10% this year, contrasting with the Nasdaq 100 Index's 3.9% gain. Analyst sentiment towards Apple remains cautious, with a decrease in revenue and earnings forecasts over the past quarter. The stock's performance relative to other megacap tech companies is under scrutiny, with less than 60% of analysts recommending a buy rating.
Investor Sentiment and Future Outlook
While headwinds persist, Bernstein recently upgraded Apple's stock, attributing the China weakness to cyclical factors rather than structural issues. Citi also sees a positive shift in sentiment towards Apple, suggesting that current challenges may be priced into the stock.
Looking ahead, Apple's AI strategy and capital-return initiatives could influence investor interest. The company's efforts to enhance AI capabilities in its products and potential collaborations with industry leaders like OpenAI and Alphabet signal a strategic shift towards innovation and growth.
Industry Developments and Tech News
Recent industry developments, such as SK Hynix Inc.'s focus on high-bandwidth memory chips for AI applications, underscore the growing demand for advanced semiconductor technology. Companies like Nvidia Corp. are at the forefront of AI development, driving the need for cutting-edge components.
- Universal Music Group NV resolves licensing dispute with TikTok
- Intel Corp. embarks on a comeback strategy with new investments
- Qualcomm Inc. anticipates increased demand for smartphone processors
- Huawei Technologies Co. funds research at US universities through independent foundation
Upcoming Earnings and Market Updates
Notable companies reporting earnings include CyberArk, Macom, Arrow Electronics, and more. Postmarket, Apple, Motorola Solutions, Expedia, and other tech firms will release their financial results, shaping market trends and investor sentiment.
As the tech industry evolves and competition intensifies, Apple faces challenges in maintaining its market position and driving growth. The company's strategic decisions in AI, capital allocation, and product innovation will be critical in navigating the ever-changing landscape of technology.
--With contributions from Subrat Patnaik and Yoolim Lee.
Related
Details of the new preferential policy for industrial cluster development take effect from today
Article 27 of the Decree also stipulates that the central budget ensures funding for industrial cluster development activities carried out by the Ministry of Industry and Trade, including: Investigation, construction, and operation of the industrial cluster database; organize conferences, seminars, coordinate investment promotion in industrial clusters; propaganda information, printing, publishing documents, training, professional development, laws and policies on industrial clusters.
Survey, evaluate, develop policies, management models, and experience in developing industrial clusters at home and abroad; Develop, disseminate and implement policies and laws on management and development of industrial clusters.
Research and develop criteria to determine effective and environmentally protective industrial cluster development models (such as specialized industrial clusters, supporting industrial clusters, ecological industrial clusters, etc.); Organize guidance and recognition for industrial cluster development models; organize rewards, summarize, and develop reports on industrial cluster development orientations.
In addition, the Decree also stipulates that local budgets ensure funding for industrial cluster development activities carried out by localities, including: Industrial cluster development activities specified in a and b, point 1.
Organize investment promotion activities for industrial clusters; Investigate and survey organizations and individuals wishing to relocate and invest in industrial clusters; establishing and appraising the establishment and expansion of industrial clusters; Prepare detailed planning for industrial cluster construction; Support the implementation of administrative procedures related to industrial clusters.
Support funds for establishing investment projects, transportation costs, and installation of machinery and equipment lines for businesses, cooperatives, cooperative groups, and households in craft villages and residential areas to relocate to. in industrial clusters and craft village industrial clusters. The specific level of support is decided by the Provincial People’s Committee.
The Decree clearly states that funding for industrial cluster development activities is a source of non-business funding; managed and used according to the provisions of the State Budget Law and guiding documents.
The Decree will officially take effect from May 1, 2024.
Ninh Phan
Related
Details of the new preferential policy for industrial cluster development take effect from today