Briefing 15-06-2022

Stocks sink amid gloomy sentiment

The equities benchmark index extended the losing streak as stock sell-off intensified on Tuesday amid the country's macroeconomic uncertainly. The prime DSEX index of the Dhaka Stock Exchange (DSE) slipped 30.60 points or 0.47 per cent further to settle at 6,361. The DSE lost over 119 points in the last three days since the national budget was unveiled. Page 9

EU action against UK on deal changes

The EU is expected to launch legal action against the UK government this week over its decision to scrap some post-Brexit trade arrangements. Ministers insist current checks on some goods travelling from Great Britain to Northern Ireland must end to avoid harm to the peace process. Page 17

No food export curbs, UN urges WTO

The United Nations urged on Monday world trade ministers meeting at the WTO not to impose export restrictions on food for humanitarian purposes, amid a food security crisis. The UN's human rights chief Michelle Bachelet and its trade and development head Rebeca Grynspan said Russia's war in Ukraine was increasing the risk of hunger and famine for tens of millions of people who are already food insecure or approaching food insecurity. Page 18

Elevator importers for 11pc duty

The Bangladesh Elevators, Escalators and Lift Importers Association (BEELIA) on Tuesday placed a charter of demands for keeping the 'capital machinery (CM)' status of the lifting machines. The proposed budget for fiscal year 2022-23 has scrapped the CM status of elevators and imposed a 31-per cent duty on this import-dependent equipment. Page 20