RFL launches handmade kitchen sinks

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.

Amid a severe liquidity crunch, Beximco Group has halted operations at Shinepukur Ceramics, marking its 24th closed venture. Since August 2024, the conglomerate has been unable to open letters of credit (LCs) for raw material imports, leading to the shutdown of 23 ready-made garment and textile factories at its Gazipur industrial park.

Monno Ceramic’s profit for the fiscal year 2023-24 plunged by 86%, reaching just Tk 1.47 crore, a significant drop from the previous year. This decline was mainly due to decreased revenue and rising financing costs. The company's earnings per share (EPS) fell from Tk 2.91 to Tk 0.39, and its net asset value per share also dropped as a result of lower total assets.

Prime Bank PLC has signed an agreement with Crown Cement PLC to offer preferential banking services to the cement company’s employees. The agreement was signed by Md Nazeem A Choudhury, deputy managing director of Prime Bank, and Mohammad Ahasan Ullah, group CFO of Crown Cement, at Prime Bank’s corporate office in Dhaka.