Briefing 23-04-2022

Leaders of 2 Koreas exchange letters
The leaders of the rival Koreas exchanged letters expressing hope for improved bilateral relations, which plummeted in the past three years amid a freeze in nuclear negotiations and North Korea's accelerating weapons development. Page 14
Stocks snap losing streak
The market bounced back in the gaining streak last week, snapping a two-week losing streak, as some investors put fresh stakes in lucrative stocks in later part of the week due to regulatory stances. Market analysts said the stocks rebounded with renewed investors' optimism as aggressive sell-off was halted following the securities regulator's crackdown and encouragement to increase institutional funds flow in the market. Page 9
Oil prices set for 4pc weekly decline
Oil prices extended losses on Friday, heading for a 4% weekly drop and burdened by the prospect of rate hikes, weaker global growth and COVID-19 lockdowns in China hurting demand, even as the European Union weighed a ban on Russian oil. Brent crude futures were down $1.17, or 1.1%, to $107.16 a barrel at 0420 GMT, while U.S. West Texas Intermediate (WTI) crude futures had declined $1.17 cents, or 1.1%, to $102.62 a barrel. Page 15
BB moves to support taka against US dollar
Bangladesh Bank has taken a series of measures in an effort to reverse a record slide in the value of the taka against the US dollar, but the moves appeared to be floundering. The deteriorating situation has upended trade as businesses are requiring more Bangladesh Taka to buy the greenback for imports of goods amid a global price hike. Page 16