Fakir Knitwear Invests $45.8M in BSMSN

NRB Bank reported a profit of Tk 850 million in Q2 2021, up from a loss of Tk 28.5 million in the same quarter the previous year. The bank's foreign exchange gain and operational efficiency contributed to the turnaround. The bank's half-yearly results also showed positive results, with a profit of Tk 100 million in January-June 2021.

DBL Group, a prominent garment exporter, typically ships apparel worth about $50 million monthly. However, due to recent violence surrounding a quota reform movement and a nationwide curfew, their shipments will plummet by at least 30% this month. The group's production facilities, which include spinning, dyeing, and garment factories, were forcibly closed during the unrest, resulting in significant financial setbacks. 

Stock trading in Bangladesh resumed after a three-day break, resulting in a 1.5-year low turnover at the Dhaka Stock Exchange. The market indices saw a decline, with the benchmark DSEX dropping 95 points to 5,350. The shariah-based DSES fell 21 points, and the blue-chip DS-30 plummeted 37 points. Investor confidence was affected by the ongoing quota reform movement, leading to selling pressure. Trading was limited due to an internet blackout. The market analyst suggested that the market may improve once internet access is restored.

Bangladesh Telecommunications Company Limited (BTCL) has been unable to collect Tk 316 crore in dues from various companies, including Tk 79.64 crore from Teletalk, Tk 50 crore from Bangladesh Cable Shilpa, Tk 12.81 crore from government entities, and Tk 174 crore from defunct companies, falsely reporting it as "current asset" in its financial statements.

An investment of Tk 5 crore for Bangladesh's largest ed-tech platform, 10 Minute School, was turned down by Startup Bangladesh, a government investment fund. Agreements on confidentiality prevent us from mentioning the reason for rejection. Ayman Sadiq, the CEO of 10 Minute School, has openly backed the quota reform demonstrations, which are aligned with this choice.

The Anti-Corruption Commission (ACC) filed a legal action against six government officials and Md Imran Hossain, the owner of Sadeeq Agro, for corruption and violations regarding the sale and import of cattle of the Brahman breed, which are banned in Bangladesh. There they have 2 parties who have committed violations.