IsDB to Provide €270m for Rural Housing

Singer Bangladesh Limited reported a 60% decline in net profit for H1 2024, attributing it to rising business costs due to the forex crisis and increased interest rates. Net profit fell to Tk23.59 crore from Tk58.31 crore, with earnings per share at Tk2.37. Sales revenue rose 9% to Tk1,185 crore in H1. In Q2, revenue increased by 10% to Tk785 crore, but net profit dropped 47% to Tk25 crore.

"Paperfly", Bangladesh's biggest logistics company, bought back its 82% interest from Indian investor Ecom Express for a price that was not disclosed. This comes after Ecom Express faced problems in the global investment market, pushing them to withdraw from a planned second round of funding.

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.

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.