GPH Ispat Reports Record 205% Profit Growth

Appollo Ispat Complex, which once thrived with its "Rani Marka Dheutin" brand, disclosed accumulated losses of Tk 7.6 billion for FY19 to FY23 in a filing on November 21, 2024. The company has failed to hold any general meetings over the past five years, and its factory has been shut for more than three years.

Emerald Oil Industries has faced over six months of halted production due to a gas supply shortage, as revealed in a response to a Dhaka Stock Exchange query on November 21, 2024. The company, which began producing Spondon-branded rice-bran oil in 2011, had previously announced plans for a capacity expansion with a new husk boiler over a year ago.

Bangladesh Services Limited, owner of InterContinental Dhaka, has faced nine consecutive years of losses, with Tk78 crore lost in FY24 and accumulated losses reaching Tk700 crore. The company, listed since 1984, has not paid dividends since FY14.

BRAC Bank has reached a significant milestone by achieving a net deposit growth of Tk 10,000 crore within the first ten months of 2024, covering the period from January to October. Despite the challenging economic landscape, the bank's strong market presence and customer trust have driven this impressive achievement.

Dhaka Bank PLC signed a memorandum of understanding (MoU) with Dhaka South City Corporation (DSCC) on November 22 to streamline the collection of holding tax and trade licence fees. Under the agreement, the bank will integrate with DSCC servers via API connectivity, enabling residents to pay taxes and fees at designated branches, sub-branches, and five newly established collection booths at Nagar Bhaban and zonal offices during the first phase.

Moody's downgraded Bangladesh's sovereign rating from B1 to B2, shifting its outlook to negative, citing heightened political risks and potential economic slowdown. However, Bangladesh Bank (BB) criticized the downgrade, labeling it as retrospective and not reflective of current progress.