Chinese Firm Invests $45M in Bangabandhu Sheikh Mujib Shilpa Nagar

Monno Ceramic Industries Ltd, a prominent tableware manufacturer in Bangladesh, reported a steep 89% drop in profits for the first quarter (July-September) of FY 2024-25. The company’s earnings fell to Tk 30.17 lakh during this period, significantly lower than Tk 2.66 crore recorded in the same quarter of the previous year.

Bangladesh's steelmakers have presented a five-point demand to the interim government to alleviate challenges plaguing the industry. At a press briefing on November 18, the Bangladesh Steel Manufacturers Association (BSMA) urged for expedited infrastructure projects to mitigate the economic crisis affecting businesses.

GPH Ispat, a major Bangladeshi steelmaker, achieved a profit of Tk 6.59 crore in the first quarter of the current financial year, recovering from a Tk 16.46 crore loss in the same period last year. The earnings per share (EPS) improved to Tk 0.14 from a loss per share of Tk 0.34, driven by an 82.57% reduction in exchange losses on foreign currency transactions.

The equity market in Bangladesh has seen a surge in foreign investment since the political transition in August 2024. Foreign portfolio transactions on the Dhaka Stock Exchange rose to Tk 13.91 billion in July-September 2024, doubling the figure from the same period last year. Net portfolio investment by foreign investors also soared to $49 million in July-August FY25, compared to $3 million in the previous year.

Austrian companies are showing interest in investing in Bangladesh as part of efforts to enhance bilateral economic ties, according to Austria's non-resident ambassador, who visited Dhaka on November 18, 2024. During a meeting with the Chief Adviser, the envoy highlighted Austria's willingness to support Bangladesh's interim government in implementing sweeping reforms.