Briefing 2023-11-09

Steelmakers pay heavy price for rise in scrap price in FY23

Listed steelmakers earned far less in FY23 than in the year before for costlier raw materials. They rely on scrap imports from the international market for production, but the dollar crunch came in their way. Prices of raw materials were high for some time in the overseas markets during the year, and then they fell, but the companies could not take advantage of it due to import curbs. Page 9

73 companies receive Nat'l Export Trophy

Seventy-three companies received National Export Trophy for FY2020-21 for their outstanding contribution to the development of the country's economy. Out of the entities, Rifat Garments Ltd has received the "Bangabandhu Sheikh Mujib Exports Trophy" as the best exporter of the FY '21. Page 14

Palestinians battle Israeli forces

The Palestinian resistance group Hamas continued to battle invading Israeli forces in Gaza City on Wednesday as international pressure for a ceasefire increased. Page 17