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Beximco has laid off 40,000 garment workers, a significant move impacting the industry. This decision reflects ongoing challenges within the sector, raising concerns about employment and economic stability in the region. The ramifications of this action are likely to be felt widely.
Excelerate Energy, Inc. will participate in the UBS Global Energy & Utilities Winter Conference on January 14-15, 2025, at The St. Regis Hotel in Deer Valley, Utah. Steven Kobos, President and CEO, will conduct one-on-one meetings with investors during the event.
Adani Power Ltd. is pursuing new concessions from the Indian government for its $2 billion coal-fired power plant in eastern India. The facility is currently facing financial difficulties due to a backlog of payments from Bangladesh, its sole electricity buyer.
India's textile sector is set for growth as global disruptions in competing markets, particularly in China and Bangladesh, create new opportunities for exporters. With rising labor costs in China and political instability in Bangladesh, Indian apparel exports to the US and UK have increased, reaching 7% and 6% respectively in 2024. Companies like Gokaldas Exports anticipate improved demand in the second half of the year, driven by the festive season and the end of the global inventory de-stocking cycle.
Shares of Indian textile exporters, including Gokaldas, Trident, and Welspun, surged up to 14% as financial troubles mount for Bangladesh's Beximco Group. The Bangladeshi government plans to sell 32 struggling garment companies amid ongoing worker protests over unpaid wages, following the arrest of Beximco's Vice-Chairman. Trident saw a notable increase, with its stock rising 13.96% to an intraday high of Rs 39.27.
Farmers in Punjab, Pakistan, face challenges with new Super Seeders aimed at reducing crop stubble burning, which contributes to severe air pollution. While some, like Dilawar Khan Rath, see long-term benefits from the machines, high costs and limited availability hinder widespread adoption. The Punjab government plans to increase the number of Super Seeders and implement a leasing program to enhance accessibility and combat smog effectively.
An expert report reveals rampant nepotism and corruption in Bangladesh, with officials allegedly enriching themselves over the past fifteen years. The panel of economists identified 28 types of corruption, highlighting the disappearance of $230 billion and the falsification of growth figures.
Bangladesh is seeking to renegotiate its power purchase agreement with Adani Group, contingent on a court's decision regarding the contract's cancellation. The Bangladeshi high court has tasked a panel of experts with reviewing the deal, which involves power supplied from a plant in eastern India.
Bangladesh has frozen the bank accounts of 17 individuals linked to ISKCON for 30 days, following the arrest of former member Chinmoy Krishna Das on sedition charges. This action comes after the High Court dismissed a petition to ban ISKCON, amid tensions following a violent clash that resulted in a lawyer's death. The Bangladesh Financial Intelligence Unit has instructed banks to halt transactions and provide updated account statements for these individuals within three days.
Boryszew S.A. generates revenues primarily from the motorization segment (PLN 1.66 billion) and chemicals (PLN 161.59 million), but faces challenges with a high payout ratio of 486.5% and a volatile dividend history. Recent financial results indicate a net loss for Q3 2024 and declining revenues, raising concerns about future dividend sustainability. In contrast, St. Galler Kantonalbank offers a stable dividend yield of 4.5% with a payout ratio of 57.1%, while Taihei Dengyo Kaisha has a 2.99% yield and a 27.6% payout ratio, indicating better coverage by profits.
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