Briefing 05-07-2022
Tuesday, 5 July 2022
Stocks extend losses as Eid festival nears
The stock market extended its losing streak for the second straight session Monday amid persistent volatility as investors were mostly cautious to put fresh funds in stocks ahead of the Eid festival. The market went through high volatility for the past few trading days while Bangladesh Bank's tighter monetary policy statement made investors more cautious. Page 9
Residents may need to flee Sydney
More than 30,000 residents of Sydney and its surrounds have been told to evacuate or prepare to abandon their homes on Monday as Australia's largest city braces for what could be its worst flooding in 18 months. Parts of the city of 5 million people are facing a fourth flooding emergency in a year and a half after torrential rain since Friday. Page 17
Eastern Cables signs $4.2m deal
The state-run listed company Eastern Cables Ltd (ECL) signed a $4.2-million deemed export agreement with a leading Chinese corporation on Monday. Under the deal signed at the Bangladesh Steel and Engineering Corporation (BSEC), the cable-maker will supply 4,000 KM AAC WASP Conductor to China National Technical Import and Export Corporation (CNTIEC). Page 20
Bond facility sought for poultry feed sector
Experts have proposed introducing a bonded warehouse facility for the feed sector aiming to boost both domestic production and exports of poultry products. Waste disposal system should also be compulsory in every poultry farm for producing environment-friendly safe products, stakeholders at the policy making discussion titled 'Safe and sustainable poultry production: Expectations and plans' said on Monday. Page 14