Briefing 2023-05-14

Linde reports lowest profit in

10 quarters for Jan-Mar

Linde Bangladesh has reported the lowest profit in 10 quarters for January-March this year, mainly due to costlier raw materials. Business has been tougher also because of the stronger dollar and a sharp decline in revenue from the healthcare segment. Linde has reported Tk 140 million in profit in the quarter this year, the lowest since April-June 2020 when its business was hampered by the country-wide lockdown aimed at curbing the spread of Covid. Page 9

BJP set to lose Karnataka in polls

Prime Minister Narendra Modi's Hindu nationalist party was set to lose Karnataka, the only southern India state it governs, according to an early vote count Saturday that showed opposition Congress party leading in the crucial state polls. With vote counting continuing, India's Election Commission said the Congress was leading in 135 out of the 224 seats in the state assembly. Page 16

G7 finance leaders vow to contain inflation

The Group of Seven's top financial leaders united Saturday in their support for Ukraine and their determination to enforce sanctions against Russia for its aggression but stopped short of any overt mention of China. The finance ministers and central bank chiefs ended three days of talks in Niigata, Japan, with a joint statement. Page 20

Asian spot LNG prices fall for third week

Asian spot liquefied natural gas (LNG) prices fell for the third straight week on Friday to the lowest level in nearly two years due to weak demand from top regional importers and as inventories remained high. Page 19