Briefing 2023-08-06

Top 10 open-ended MFs strike double digit return rates for FY22

As many as 10 open-ended mutual funds (MFs) generated returns at double-digit rates between 11.9 per cent and 26.7 per cent in FY22, with investments concentrating on blue-chip stocks, according to EBL Securities. The high incomes from investments were derived from dividends, interest income and capital gains at a time when there was no price restriction on stocks. Page 9

Japan, Spain into quarters in Women’s WC

Japan's surprise title charge at the Women's World Cup gathered pace with a clinical 3-1 win over Norway to reach the last eight while Spain thrashed Switzerland 5-1 on Saturday. Spain crushed Switzerland to reach the quarter-finals for the first time in their history and will face the Netherlands or South Africa next. Page 13

Ukraine's drones damage Russian warship

Ukraine said its sea drones struck a major Russian port Friday and damaged a warship in an attack that underlined Kyiv's growing naval capabilities as the Black Sea becomes an increasingly important battleground in the war. The strike on Novorossiysk halted maritime traffic for a few hours and marked the first time a commercial Russian port has been targeted in the nearly 18-month-old conflict. Page 14

Next two years crucial for energy sector: Nasrul

State Minister for Power and Energy Nasrul Hamid on Saturday said the next two years will be critical for the energy sector of the country. "In the next two years, we must take a leap forward in executing all our plans amid huge challenges," he said while addressing a seminar titled, 'Highest utilisation of natural resources of Bangladesh: Philosophy of Bangabandhu' at the FBCCI Bhaban in the city. Page 16