Bizdata Insights Main Logo

BizData Insights

RAK Ceramics Halt Production for Maintenance

Industry: Building Material, Ceramic
Company: RAK Ceramics (Bangladesh) Limited
Company Intelligence Tag: Business Insights

RAK Ceramics Ltd, the country’s largest tiles and sanitaryware manufacturer, is set to halt one of its four tiles production lines for three months for maintenance and modifications. The multinational company’s maintenance work began on August 9, 2023. Despite the closure, three other production lines will continue operating. RAK Ceramics has faced challenges, including a 34% year-on-year profit decline in the first half of 2023 due to rising gas and electricity prices, as well as surges in raw material costs globally. The company’s net profit fell to Tk 28.5 crore in the first half of the year 2023, down from Tk 43 crore in the same period last year.

Source for more details:

Related News

Paperfly Co-Founders Acquire Indian Investor’s 82% Stake

July 27, 2024

"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 Posts Tk 850 Million Profit

July 25, 2024

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.

DSE Turnover Reaches 1.5 Year Low

July 25, 2024

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.

BTCL Fails to Recover Tk 316 Crore in Dues

July 18, 2024

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.

Startup Bangladesh Turns Down Tk5 Crore Funding for 10 Minute School

July 18, 2024

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.

ACC Files Case Against Officials and Sadeeq Agro for Brahman Cattle Issues

July 18, 2024

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. 

Related News

Paperfly Co-Founders Acquire Indian Investor’s 82% Stake

July 27, 2024

"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 Posts Tk 850 Million Profit

July 25, 2024

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.

DSE Turnover Reaches 1.5 Year Low

July 25, 2024

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.

BTCL Fails to Recover Tk 316 Crore in Dues

July 18, 2024

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.

Startup Bangladesh Turns Down Tk5 Crore Funding for 10 Minute School

July 18, 2024

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.

ACC Files Case Against Officials and Sadeeq Agro for Brahman Cattle Issues

July 18, 2024

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. 

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here