Over 55% of Robi Subscribers Now Using 4G

Nagad, the fastest-growing mobile financial services (MFS) carrier in Bangladesh, is on track to become a profitable venture by 2025, driven by ongoing investments, technological advancements, customer acquisition, and expanded financial outreach

Indo-Bangla Pharmaceuticals Limited experienced a significant 91.65% decrease in profit, amounting to Tk 11.62 lakh, during the third quarter of the current financial year. In comparison, the company had earned a profit of Tk 1.39 crore in the same quarter of the previous year, 2021-22. The unaudited financial statements reveal that the earnings per share (EPS) for January-March 2022-23 stood at Tk 0.01, as opposed to Tk 0.12 in the corresponding quarter of 2021-22.

Active Fine Chemicals Limited experienced a significant decline in profit during the third quarter of the current financial year, with a year-on-year decrease of 50 percent to Tk 47.99 lakh. In comparison, the company's profit in the January-March quarter of 2021-22 was Tk 95.97 lakh. As a result, the earnings per share (EPS) also declined from Tk 0.04 in the third quarter of the previous financial year to Tk 0.02 in January-March of 2022-23, as indicated by the unaudited financial statements.

The country's mobile manufacturing sector is facing significant hurdles, including difficulties in obtaining letters of credit (LCs), plummeting sales, and the rise of the grey market, according to the vice president of the Mobile Phone Industry Owners' Association of Bangladesh. The shortage of US dollars has made it challenging to open LCs, leading to a decline in manufacturing. Mobile sales have dropped by over 40% in the first quarter of 2023, exacerbating the situation.

One Bank Limited, a private sector lender, has announced its plan to raise Tk500 crore through a private placement of a subordinated bond. The issuance of the bond is aimed at including it in the bank's Tier-II capital.

Premier Cement PLC has signed an agreement with Infrastructure Development Company Limited (Idcol) to receive a Tk 350 crore long-term loan for expanding production at two new units. The company has already commenced production at the Narayanganj and Chattogram units, involving a total investment of Tk 1,300 crore.