Briefing 2023-11-10

Investors at risk of losing out of ICB, Sea Pearl bond-share transfer deal

Investors of Sea Pearl Beach Resort & Spa may lose their profit partially, as the company is going to convert 20 per cent of its bonds worth Tk 3.25 billion into ordinary shares. The Investment Corporation of Bangladesh (ICB), which had fully subscribed the bonds, wrote a letter to the Sea Pearl last month, asking for conversion of debt securities into equity. Page 9

New Zealand on brink of WC semis

New Zealand beat Sri Lanka by five wickets on Thursday. Kiwis are now all but in the semi-finals of the World Cup, although it will not be officially confirmed until the result of the match between England and Pakistan on Sunday. If they do go through, they are set to face India, with the winner of that to face either Australia or South Africa in the final. Page 15

Western, Arab officials meet on Gaza aid

Officials from Western and Arab nations, the United Nations and non-governmental organizations were set to gather in Paris on Thursday for a conference on how to provide aid to civilians in the Gaza Strip, including proposals for a humanitarian maritime corridor and floating field hospitals. French President Emmanuel Macron wants the conference to address Gaza's growing needs including food, water, health supplies, electricity and fuel. Page 17

RMG buyers urged to raise prices

BGMEA has urged the global brands, retailers and their representatives in Bangladesh to adjust the prices of all goods to be shipped from December next commensurate with the wage hike announced on Tuesday. On the following day, BGMEA President Faruque Hassan in a letter to the buyers said, from now on, all the business negotiations and deals will have to adhere to the new wage policy. Page 20