Briefing 27-08-2022

Stocks advance for second week

Stocks notched a second week of gains, as investors started coming off the sidelines to join the market rally, optimistic about improved economic outlook in coming days. Out of the five trading days this week, four sessions closed higher, thanks to higher participation of retail investors. DSEX, the key index of the Dhaka Stock Exchange (DSE), climbed 113.64 points or 1.82 per cent to settle the week at 6,355.07. Page 9

Asia Cup kicks off today

The Asia Cup 2022 kicks off today (Saturday) with a match between Sri Lanka and Afghanistan in the UAE. Defending champions India will kick-start their campaign with a match against arch-rivals Pakistan tomorrow (Sunday), report agencies. The continental event was earlier set to take place in Sri Lanka but the economic crisis in the country saw the tournament being shifted to United Arab Emirates. Page 13

US warns on power from Ukraine N plant

Washington on Thursday warned Russia against diverting energy from a nuclear plant, which Kyiv says was cut off from its grid, as the calls for an independent inspection of the facility mount. Ukraine's Zaporizhzhia nuclear plant is under occupation by Moscow's troops and was disconnected from the national power supply on Thursday, the state energy operator said. Page 14

Local smartphone mkt shrinks in April-June

Amid soaring inflation, Bangladesh's smartphone market shipments dropped 3.0 per cent year-on-year in in the second quarter of 2022, according to Counterpoint Research's Market Monitor Service. "Bangladesh's smartphone market experienced a good start with Eid celebrations during April. Page 16