Dhaka, Bangladesh
German shares almost unchanged at start of trading

German shares almost unchanged at start of trading

BERLIN, Oct. 9 (Xinhua): German stocks were almost unchanged at the start of trading on Wednesday, with the benchmark DAX index rising by 3.62 points, or 0.03 percent, opening at 11,973.82 points. The biggest winner among Germany’s largest 30 companies at the start of trading was sportswear manufacturer Adidas, increasing 0.41 percent, followed by agrochemical giant Bayer with 0.27 percent and financial service provider Wirecard with 0.11 percent. Shares of Infineon fell by 0.52 percent. The German chipmaker was the biggest loser at the start of trading on Wednesday. The euro increased by 0.04 percent on Wednesday morning local time, trading at 1.0961 U.S. dollars. On Wednesday, the German association of the chemical industry is scheduled to present a study on the greenhouse gas emissions of German chemical companies in the context of greenhouse gas neutrality by 2050. Volkswagen subsidiary Audi is scheduled to present its vehicle sales figures for September on Wednesday. Audi shares, which are owned almost entirely by Volkswagen with only 0.36 percent in free float, increased by 0.74 percent during early trading.bBangladesh in July posted its first current account surplus in three years in the first month of the current 2019-20 fiscal year (July 2019-June 2020), a central bank official said Wednesday. The Bangladesh Bank (BB) official told Xinhua that the country recorded a current account surplus of 240 million U.S. dollars in July after a deficit of over five billion U.S. dollars at the end of the last 2018-19 fiscal year (July 2018-June 2019). He said Bangladesh’s current account balance posted 179 million U.S. dollars deficit in July last year. The BB official said the current account balance posted surplus in July this year mainly as both exports and remittances logged a big gain. Bangladesh’s exports in the first month of the current 2019-20 fiscal year surged 8.55 percent to nearly 4 billion U.S. dollars, showed Export Promotion Bureau (EPB) data. On the other hand, the BB data showed the flow of inward remittances surged 43.21 percent year-on-year to 1,597.66 million U.S. dollars in July this year. According to the BB official who did not like to be named, Bangladesh current account balance for the last time showed the surplus of 3,706 million U.S. dollars at the end of 2015-16 fiscal year (July 2015-June 2016) against the surplus of 2,875 million U.S. dollars in the previous fiscal year (July 2014-June 2015). Vietnam spent over 9.7 billion U.S. dollars importing cloth in the first nine months of this year, posting year-on-year increase of 3.2 percent, according to the country’s Ministry of Industry and Trade on Wednesday. Its largest import market of cloth was China, followed by South Korea and Japan. Between January and September, Vietnam imported more than 1.1 million tons of cotton worth roughly 2.1 billion U.S. dollars, down 7.8 percent in volume and 12.2 percent in value. The country also spent more than 1.8 billion U.S. dollars importing 822,000 tons of yarn in the same period, up 3.8 percent and 7.8 percent, respectively. In 2018, Vietnam poured 12.9 billion U.S. dollars in importing cloth, up 13.5 percent, over 3 billion U.S. dollars in importing cotton, up 28.5 percent and 2.4 billion U.S. dollars importing yarn, surging 32.7 percent. Vietnam reaped 30.4 billion U.S. dollars from exporting garments and textiles last year, up 16.6 percent against 2017, mainly to the United States, Japan and China, according to the country’s General Statistics Office.

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