Briefing 11-06-2022

Budgetary hopes keep stocks afloat

Stocks extended the gaining streak for a second straight week to Thursday as bargain hunters put fresh bets on selective issues, with an eye on the national budget. Finance Minister AHM Mustafa Kamal on Thursday unveiled a budget of Tk 6.78 trillion for the Fiscal Year (FY) 2022-2023. This week saw five trading days as usual, with three sessions ending lower and two others edging up. Page 9

China will ‘not hesitate’ on Taiwan war

Beijing will "not hesitate to start a war" if Taiwan declares independence, China's defence minister warned his US counterpart Friday in the pair's first face-to-face talks, officials said. "If anyone dares to split Taiwan from China, the Chinese army will definitely not hesitate to start a war no matter the cost," Wu Qian quoted defence minister Wei Fenghe as saying during a meeting with Lloyd Austin. Page 14

Oil slips on China lockdown

Oil slipped on Friday as China imposed new COVID-19 lockdown measures and US consumer prices rose more than expected, but crude prices remained on track for another weekly gain due to solid demand for fuels in the United States. Brent crude was down 90 cents, or 0.7 per cent, at $122.17 a barrel at 1333 GMT and US West Texas Intermediate crude fell 84 cents, or 0.7 per cent, to $120.67 a barrel. Page 15

Bangladesh face Turkmenistan today

Bangladesh will face upper-ranked Turkme-nistan in their second group E game of AFC Asian Cup qualifiers scheduled to be held today (Saturday) at the Bukit Jalil National Stadium in Kuala Lumpur, Malaysia. Private satellite channel Ten-Sports will telecast the match live that kicks off at 3.15 pm (BST). Page 13