Briefing 23-07-2022

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FE Team | Published: July 22, 2022 23:47:41

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Slowdown fears weigh on investors
Stocks tumbled in the week to Thursday, extending the losing streak for a third consecutive week, as jittery investors scrambled to exit the market by selling off their holdings amid growing worries about a potential economic downturn in the coming months. All the five trading sessions of the week saw the benchmark equities index fall although the bargain hunters tried to buy lucrative stocks in the last two days. Page 9
Oil prices fall as Libya resumes output
Oil prices fell on Friday on a weakening global demand outlook and the resumption of some Libyan crude oil output. Brent crude futures fell 55 cents to $103.32 a barrel by 1251 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down $1.05 to $95.30 a barrel. Page 15
Sohan named Tigers' new T20 captain
Wicketkeeper-batter Nurul Hasan Sohan has been appointed as the new captain of Bangladesh for the T20I format, according to the Bangladesh Cricket Board (BCB). He will lead the team in the upcoming Zimbabwe tour, replacing all-rounder Mahmudullah Riyad, a BCB official said Friday. Page 16
Eurozone biz activity at 17-month low
Eurozone business activity has gone into reverse for the first time since February 2021 after companies were hit by falling orders and rising prices, fuelling economists' expectations of a recession this year. Fears that the 19-country single currency zone is heading for a sharp downturn were reinforced by S&P Global's flash eurozone composite purchasing managers' index for July. Page 16