Briefing 2023-05-05

Midland Bank's rise on DSE breaks the trend
Midland Bank jumped 20.35 per cent in the outgoing week to Tk 13.60 on Wednesday as its earnings disclosure for 2022 held out hope for good returns on investment in the stock. Five weeks after the debut trading on the Dhaka Stock Exchange, it broke the trend set by two other banks -- Global Islami Bank and Union Bank -- that were listed last year. They failed to draw investors and are now trading at a discount to the face value of Tk 10. Page 13
Govt introduces new policy for selecting CIPs
The government has introduced a new policy which includes an export earning ceiling as a criterion for selecting commercially important persons (CIPs). The commerce ministry published a gazette notification in this regard recently. It has issued the new CIP (Export and Trade) Policy-2023, replacing the CIP (export) Policy of 2013 and incorporating new provisions. Page 24
Record sea surface heat sparks fears
With sea surface temperatures swelling to new highs in recent weeks, scientists warn that humanity's carbon pollution has the potential to turn oceans into a global warming "time bomb". Oceans absorb most of the heat caused by planet-warming gases, causing heatwaves that harm aquatic life, altering weather patterns and disrupting crucial planet-regulating systems. Page 5
Abahani retain top spot in DPL
Abahani Limited retained their top spot in Dhaka Premier League (DPL) with a 42-run win over Prime Bank Cricket Club in their second match of the super league phase at Khan Saheb Osman Ali Stadium in Narayanganj on Thursday. Afif Hossain struck his first century in this season while Pakistan recruit Khushdil Shah claimed six wickets. Page 10