BSRM Ltd, the largest steelmaker in Bangladesh, said its profits fell in the financial year ending in June 2023 even though it recoded 44 percent higher sales to take the turnover to over Tk 11,500 crore, the highest so far.
The leading steelmaker is the fourth among 392 listed firms to join the list of four with Titas Gas, Grameenphone and British American Tobacco Bangladesh Company Limited (BATBC).
Unstable dollar rates at the Bangladesh Bank and private banks, alongside crippling power cuts, have put the country's manufacturing sector in a fix as they still have no idea how to make up for the losses caused by these. Companies are finding it difficult to even open a new letter of credit (LC) to import raw materials in the face of depleting inventories. Besides, unstable
The Bangladesh Bank has given permission to four private business entities to invest $10 million in foreign countries, in a major leap forward for reining in capital flight alongside easing global marketing of local products. One of the permitted companies, Square Pharmaceuticals Limited, a subsidiary of Square Group, will invest $1 million in The Philippines,