Briefing 2023-12-26

Fu-Wang Ceramic's Q1 profit grows 45pc on higher sales
Fu-Wang Ceramic Industries saw its net profit for the first quarter (Q1) of FY'24 jump 45 per cent year-on-year to Tk 11.64 million, driven by higher sales and a decline in operational costs. The surge in profit took the earnings per share (EPS) of the tiles manufacturer to Tk 0.09 for the July-September period as against Tk 0.06 for the same quarter a year before. Page 9
Ratcliffe agrees deal to buy 25pc ManU stake
British billionaire Jim Ratcliffe has agreed a deal to buy a 25 per cent stake in Manchester United for about $1.3 billion, vowing to return the Premier League club to the "top of world football." United also announced in a statement on Sunday that Ratcliffe's INEOS company would take control of football operations after years of under-achievement under the Glazer family. Page 13
70 killed in Israeli air strike on refugee camp
Gaza's Hamas-run health ministry says an Israeli air strike killed at least 70 people in the Al-Maghazi refugee camp in the centre of the strip. A spokesman said the death toll was likely to rise given the large number of families living in the area. It comes as Israeli and Arab media say Egypt has put forward a new proposal for a ceasefire between Israel and Hamas. Page 14
Bargain hunt by RMG buyers upsets owners
Bargain hunt by some evasive garment buyers upsets the industry owners and the apparel apex body moves for blacklisting those seeking "illogical" discount on clothing-price invoices, sources say. The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has asked its members to provide list of those global garment buyers asking cut-down prices as the number of such incidents has been on the increase in recent times. Page 16