Haque Specialized Group's News

Oil prices hit a two-month high on Monday, lifted by a tightening US crude market and the threat of sanctions against OPEC-member Venezuela. Brent crude futures, the international benchmark for oil prices, were at $52.67 per barrel at 0247 GMT on Monday, up 15 cents or 0.3 per cent.  Prices hit $52.76 per barrel earlier in the day, their highest since May 25. US West Texas Intermediate (WTI) crude futures were up 16 cents, or 0.3 per cent, at $49.87 per barrel, the highest since June 30. The price rises put both crude benchmarks on track for sixth consecutive session of gains. Oil prices have risen around 10 per cent since the last meeting of leading members by the OPEC and other major producers, including Russia, when the group discussed potential measures to further tighten oil markets. After rising by more than 10 per cent since mid-2016, US oil production dipped by 0.2 per cent to 9.41 million barrels per day (bpd) in the week to July 21. US crude inventories have fallen by 10 per cent from their March peaks to 483.4 million barrels. Drilling for new US production is also slowing, with just 10 rigs added in July, the fewest since May 2016. The tighter market was also visible in the price curve, which shows backwardation in the front end. Backwardation is a market condition in which prices for immediate delivery of a product are higher than those later on. Brent prices for delivery in September are currently around 35 cents above those for October, according to Reuters.....

Published at: 2017-07-31 00:00:06

Wells Fargo & Co said it is cutting 69 executive jobs at its retail unit, as part of a restructuring in the division. Some of the executives will retire with benefits while others may find positions elsewhere within the bank, Wells Fargo spokesman Paul Gomez said on Friday. Some of the executives may leave the bank, Gomez added. "We have just completed the process of consolidating the Regional President and Area President roles into a new position, Region Bank President," Mary Mack, senior executive vice president for community banking, said in an internal memo seen by Reuters. There will be 91 executives in the position that was newly created as part of the reorganisation. News of the scandal-hit lender cutting senior executive jobs was earlier reported by Bloomberg. Wells Fargo has been engulfed in scandal since September, when it reached a $190 million settlement with regulators over complaints that its retail banking staff had opened as many as 2.1 million unauthorised client accounts. Wells Fargo shares ended down 2.6 per cent on Friday.....

Published at: 2017-07-31 00:00:06

Health and Family Welfare Minister Mohammed Nasim has said BNP is hatching conspiracy to stop the polls as the party has no trust in countrymen. "BNP is out to misguide people. But they will not be successful," he said while addressing the inaugural ceremony of three 10-seated "Ma o Shishu Kollyan Kendro" in Kazipur upazila in Sirajganj district on Saturday. Nasim, also Awami League presidium member, said the next general election will be held under Prime Minister Sheikh Hasina in line with the constitution.  The minister urged the countrymen to pin their reliance on Awami League and partner the party to transform Bangladesh into developed one, reports BSS.  ....

Published at: 2017-07-30 00:00:05

A brawl between a group of students and teachers during a meeting of the Dhaka University Senate has left eight people injured. The scuffle started when the students, protesting against the nomination of vice-chancellor candidates without their representatives, tried to enter into the Senate building and the teachers blocked their entry. Witnesses said, at least two teachers and six students were injured in the incident that occurred in front of the Senate Building during a meeting convened to nominate the VC panel on Saturday. Both the students and teachers blamed each other for the brawl. The Senate called the meeting ahead of the end of the tenure of current VC AAMS Arefin Siddique, according to bdnews24.com.  ....

Published at: 2017-07-30 00:00:05

With a view to providing real-time and credible factory data to the industry stakeholders through an interactive online platform (like Google Maps), a project for framing digital RMG factory mapping in Bangladesh (DRFM-B) has been launched. Commerce Minister Tofail Ahmed inaugurated the DRFM-B project as the chief guest at the Apparel Club in BGMEA headquarters on Saturday, according to BSS.  ....

Published at: 2017-07-30 00:00:05