Briefing 04-08-2022

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FE Team | Published: August 04, 2022 01:10:28

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DSEX gains 320 points in 4 days
Dhaka stocks witnessed another bullish session on Wednesday, with the turnover hitting nearly Tk 12 billion, as buoyant investors continued their buying spree - anticipating further positive momentum ahead. The market skyrocketed at the beginning of the session, riding on the investors' optimism - resulting from a positive development from the Ministry of Finance (MoF) regarding the banks' capital market investment exposure. Page 9
Lanka leader proposes 25-yr plan
Sri Lanka's new president said Wednesday that his government is preparing a national policy roadmap for the next 25 years that aims to cut public debt and turn the country into a competitive export economy as it seeks a way out of its worst economic disaster. President Ranil Wickremesinghe in his speech to Parliament said Sri Lanka needs long-term solutions and a strong foundation to stop a recurrence of economic crises. Page 14
Gold prices advance as dollar falls
Gold prices advanced on Wednesday as the dollar fell and US-China tensions rose, although firmer US Treasury yields capped gains in the non-yielding asset to hold it below a one-month high hit in the last session. Spot gold rose 0.4 per cent to $1,767.41 per ounce by 1223 GMT, after hitting its highest since July 5 on Tuesday at $1,787.79 before closing down 0.6 per cent to break a four-session winning streak. Page 22
Hossain Ali eliminated from round of sixteen
Bangladesh's Hossain Ali was eliminated from the round of sixteen after losing 5-0 points to Wayne Isaac Kibira of Uganda in the Commonwealth Games boxing event held Wednesday. Hussain Ali faced Kibira in the men's welterweight (63.5-67 kg) category with Hussain Ali in red jersey and Kibira in the blue jersey. Page 15