Briefing-14-07-2022

Stocks extend losing streak

Stocks extended the losing streak for the second straight session Wednesday as investors released their holding amid growing macroeconomic worries. DSEX, the key index of the Dhaka Stock Exchange (DSE), went down by 30.68 points to settle at 6,325. The key index lost over 42 points in the past two days after Eid vacation. Turnover, the crucial indicator of the market, stood at Tk 7.02 billion, which was 3.40 per cent higher than the previous day's tally of Tk 6.79 billion. Page 9

Biden lands in TeI Aviv on first ME tour

US President Joe Biden started a Middle East tour on Wednesday in Israel, where leaders will urge tougher action against their common foe Iran, before a delicate stop in oil-rich Saudi Arabia. Biden's visit to Jeddah on Friday will be the focus of the tour, after he branded Saudi Arabia a "pariah" over the 2018 murder of dissident Saudi journalist Jamal Khashoggi. Page 17

Oil edges higher after slide below $100

Oil edged up on Wednesday, a day after settling below $100 a barrel for the first time since April, and gains were limited by a US supply report showing rising inventories and caution ahead of US inflation data. Despite a tight physical oil market, investors have sold oil futures on worries that aggressive rate hikes to stem inflation will slow economic growth and hit oil demand. Page 19

BPL resumes today

After a five-day recess due to Eid-ul-Azha, the TVS Bangladesh Premier League (BPL) football will resume today (Thursday) with a lone nineteen round match. As per the revised fixture, Abahani Limited, Dhaka take on bottom-ranked Swadhinata Krira Sangha at Shaheed Dhirendranath Datta Stadium in Cumilla at 4 pm. Page 15