Briefing 09-08-2022

Stocks run out of steam
Dhaka bourse closed lower on Monday, extending the losing streak for a second consecutive session as many investors offloaded shares to lock in profits from the last week's bullish run in the market. The fuel oil price surge has also renewed fears of an economic slowdown, prompting investors to adopt a cautious stance, which was reflected in the market, according to market operators. The benchmark DSEX index of Dhaka Stock Exchange (DSE) opened the session on a positive note but it started declining soon after. Page 9
US climate action bill clears Senate bar
The US Senate has approved a bill that includes $369bn (£305bn) for climate action - the largest investment in America's history. The authors of the Inflation Reduction Act say it will cut the country's carbon emissions by 40% by 2030. Some households could receive up to $7,500 in tax credit to buy an electric car and $4,000 for a used car. Page17
Oil stays near multi-month lows
Oil prices inched up from multi-month lows on Monday as lingering worries about demand weakening on the back of a darkened economic outlook outweighed some positive economic data from China and the United States. Erasing earlier gains, Brent crude futures were down $1.54, or 1.6 per cent, at $93.38 a barrel by 1128 GMT. US West Texas Intermediate crude was at $87.63 a barrel, down 41.38, or 1.6 per cent. Page 19
Tigers making same mistakes: Domingo
Bangladesh's bowlers were out of sync with the plans that had been discussed, and repeated mistakes, according to head coach Russell Domingo, and that was the reason they failed to defend two decent totals in a row in the ODI series against Zimbabwe. Page 15