Briefing 2024-01-06

Spinners worst hit in 2023 in a decade, battered by global yarn price fall

Spinners had the worst year in a decade in 2023 as yarn became cheaper in the global market, dragging most companies in the red. Of the companies, Metro Spinning Mills experienced a loss of Tk 192.40 million in FY23, whereas it had profits in the previous five fiscal years. Page 9

Blinken tackles Gaza with Erdogan

Washington's top diplomat discusses the Gaza war with Turkey's mercurial leader on Saturday before flying to Crete to address Greek worries about the looming sale of US fighter jets to Ankara. US Secretary of State Antony Blinken arrived in Istanbul late Friday for the first leg of a trip that includes visits to both Israel and West Bank. Page 11

Global food prices drop 13.7pc in 2023: FAO

World food prices fell in 2023, with considerable declines for grains and oils as supply concerns eased, the UN's Food and Agriculture Organisation said Friday. Overall, world food commodity prices fell 13.7 percent in 2023 against the previous year, Rome-based FAO said. Page 16