Briefing 22-08-2022

Stocks extend gains on positive sentiment
The stock market extended the winning streak for a fourth straight session on Sunday as buoyant investors renewed their appetite for sector-wise stocks anticipating positive momentum ahead. The market opened higher and the positive trend sustained till the end of the session amid modest volatility. Page 9
Russia China's top oil supplier
Russia held its spot as China's top oil supplier for a third month in July, data showed on Saturday, as independent refiners stepped up purchases of discounted supplies while cutting shipments from rival suppliers such as Angola and Brazil. Page 19
Truss downplays prospect of UK recession
Tory leadership favourite Liz Truss downplayed Sunday the prospect of a UK recession, while the man tipped to be her finance minister vowed "help is coming" over the soaring cost of living. Truss, the frontrunner in polls to beat rival Rishi Sunak and become Britain's next prime minister, pledged in an interview to lead a "small business and self-employed revolution" if in power. Page 17
City wholesalers behind egg mkt volatility
The syndicate of wholesalers and dealers of leading poultry companies made a huge profit by raising egg prices exorbitantly - citing the reason of rise in diesel prices, which caused volatility in local egg market this month. It was revealed in a discussion of the Directorate of National Consumer Rights Protection (DNCRP) with the egg wholesalers and retailers in the city on Sunday. DNCRP Director General A H M Shafiquzzaman said egg transportation cost increased by only Tk 0.3-0.4 per piece due to increase in fuel oil price. Page 20