Briefing 2023-06-24

Stocks rebound despite

tight monetary policy

Despite the announcement of a contractionary monetary policy last week, stocks rebounded, recovering half of the previous week's losses. Market analysts praised the new policy for correcting previous mistakes of artificially holding interest rates and believe its impact on the stock market will be minimal, as investors were already aware of the changes. Page 9

Pakistan evaluating WC participation in India

Pakistan's foreign ministry is evaluating the aspects of the country's participation in this year's cricket World Cup in India, considering the strained political relations between the two countries. Bilateral cricket matches have been limited to neutral venues, raising doubts about Pakistan's participation. Uncertainty over Pakistan's participation has led to delays in confirming the tournament's dates and venues. Page 13

Single-point mooring awaits trial run

Bangladesh prepares for a trial run of its long-awaited single-point mooring, a buoy that will pump imported crude oil to a storage facility off the coast of Cox's Bazar's Moheshkhali. The SPM project has faced delays and rising expenses. Page 16

Rich nations pledge funds for climate fight

Multilateral development banks like the World Bank are expected to find $200 billion in extra firepower for low-income economies by taking on more risk, a move that may require wealthy nations to inject more cash, world leaders said on Friday. Page 14