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Briefing 15-05-2022

May 15, 2022 00:00:00

Undistributed dividends in CMSF

Audit and Accounts Management Committee of Capital Market Stabilisation Fund (CMSF) will accelerate its monitoring if issuer companies fail to transfer investors' undistributed dividends into the account of the CMSF within the stipulated deadline. The Audit and Accounts Management Committee (AAMC) said this after a meeting held on Thursday. Page 9

Ukraine thwarts Russian river crossing

Ukrainian forces destroyed a pontoon bridge and parts of a Russian armoured column as it tried to cross a river in the Donbas region, video released by Ukraine's military showed on Friday, and a Russian naval ship was set afire in the Black Sea. Ukraine has driven Russian troops back from the second-largest city of Kharkiv in the fastest advance since Kremlin forces pulled away from Kyiv and the northeast over a month ago. Page 14

SBI misses Q4 profit estimates

State Bank of India (SBI) missed fourth-quarter profit estimates despite record earnings as higher overhead costs and interest expenses weighed, with a rise in new bad loans sending shares falling to lowest levels in over two months. Shares of SBI, India's biggest lender widely seen as a bellwether bank, reversed course and closed 3.9 per cent lower at 444.65 rupees ($5.74) apiece - the lowest level since March 8 2022, after rising as much as 3.1 per cent earlier. Page 12

RMG can grab 10pc of global mkt by 2025

The global market share of locally made readymade garments could reach 10 per cent by 2025 if steps are taken to increase competitiveness, reduce lead time and attract investment in backward-linkage industry. Page 16

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