Briefing 29-04-2022

Paddy procurement drive begins
The government has started procurement of paddy directly from farmers at Tk 27 per kg, said Food Minister Sadhan Chandra Majumder. Besides, the government will start rice procurement from May 07 and it will continue until August 31, he said. The food minister inaugurated the programme through a video conference held at the conference room of the Food Department. Page 32
Stocks slip into red before Eid holiday
Stocks slipped into the red on Thursday, the last trading day before Eid holidays, as cautious investors opted for booking profit amid ongoing corporate declarations. Trading and official activities on the bourses will remain closed from May 1 to May 4 in line with the government holidays on the occasion of Eid-ul-Fitr, the biggest religious festival of the Muslims, officials said. Page 9
Truss for tanks, warplanes to Ukraine
Britain's top diplomat called Wednesday for Western allies to send tanks, warplanes and other heavy weapons to Ukraine, saying fears of escalating the war were misplaced and "inaction would be the greatest provocation." Foreign Secretary (FS) Liz Truss said "this is a time for courage, not caution" among nations helping Ukraine fight Russia's invasion. Page 14
Chevron well resumes gas production
US oil major Chevron resumes gas supply from its damaged well in Bibiyana hydrocarbon hub, ramping up overall output of the much-needed fuel in Bangladesh. The damaged onshore gas well in Bibiyana, located in Bangladesh's gas-rich northeastern region, is currently producing around 30 million cubic feet per day (mmcfd) of natural gas, less than half of its 70mmcfd capacity, a senior Petrobangla official told the FE Thursday. Page 21