Oil prices climb on expectations of lower OPEC+ exports in August
Oil prices rose on Monday as global supply is tightening with lower exports from Saudi Arabia and Russia, offsetting nagging concerns about global demand growth amid high interest rates. Brent crude climbed 75 cents to $85.55 a barrel by 0301 GMT, while US West Texas Intermediate crude was at $82.05 a barrel, up 80 cents. The September WTI contract expires on Tuesday and the more active October contract gained 73 cents to $81.39 a barrel. The world’s top crude importer is drawing on record inventories amassed earlier this year as Chinese refiners scale back purchases after supply cuts by the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, known as OPEC+, drove global prices above $80 a barrel.
Dhaka Bank Provides Agri Inputs for Farmers
Dhaka Bank Limited distributed improved seeds, fertilisers and pesticides among 500 marginal farmers in Shailkupa upazila of Jhenaidah district recently as part of Corporate Social Responsibility (CSR) programme. Razia Akhter Chowdhury, UNO of Shailkupa upazila, was present as the chief guest while Emranul Huq, Managing Director and CEO of Dhaka Bank, and Mohammad Hedayet Ullah, Managing Director of Syngenta Bangladesh Limited, were present as special guests.
Abdus Samad Labu elected chairman of Al-Arafah Islami Bank
Abdus Samad Labu has been elected as the chairman of Al-Arafah Islami Bank Limited (AIBL) unanimously at the 390th meeting of the board on Sunday. Mr Samad is one of the founding directors of AIBL. He is a renowned name in the country’s business arena and manages various business enterprises in different capacities. He serves as the vice chairman of S Alam Group, one of the largest industrial groups in Bangladesh. Besides, he holds the position of chairman at S Alam Cold Rolled Steels Ltd and vice chairman at Ekushey Television (ETV), a leading satellite TV channel in the country. Salim Rahman previously served as a director at another private bank for 15 years before joining as a director at Al-Arafah Islami Bank Limited. He earned his Master’s in Business Administration from the USA.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↓ 36.97||↓ 0.11 %|
|FTSE100||$ 7,257.82||↓ 4.61 ||↓ 0.06 %|
|Nikkei 225||$ 31,803.42||↑ 237.78||↑ 0.75 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 80.73||↑ 0.01 ||↑ 0.01 %|
|Crude Oil (Brent)||$ 84.37||↓ 0.09||↓ 0.11 %|
|Gold Spot||$ 1,896.10||↑ 1.17||↑ 0.06 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 109.5000||BDT 109.5000|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<