Briefing 26-05-2022

Square Pharma fire costs Tk 500m revenue
The recent fire at the factory of Square Pharmaceuticals Ltd at Kaliakoir will reduce the company's revenue and profit by about Tk 500 million and Tk 80 million respectively, the company claimed. A fire broke out in the newly-introduced large volume Parenteral (LVP) Plants at the factory promises at Kaliakoir in Gazipur on May 23 and came under control after eleven hours of effort, said the company in a filing with the Dhaka Stock Exchange (DSE) on Wednesday. Page 9
N Korea fires missiles
North Korea fired a volley of missiles Wednesday, including possibly its largest intercontinental ballistic missile, just hours after US President Joe Biden left Asia after a trip overshadowed by Pyongyang's sabre-rattling. North Korea has also been conducting "operational tests" of a nuclear detonation device, Kim Tae-hyo, Seoul's first deputy director of the National Security Office, said, adding a test could come "imminently". Page 17
Lanka 282/5 on day 3 against Tigers
Angelo Mathews and Dhananjaya de Silva each hit a fifty and put on a 102-run partnership to keep Sri Lanka going strong in the rain-hit second Test against Bangladesh on Wednesday. Mathews remained unbeaten on 58 after de Silva went out with the same score to take Sri Lanka to 282-5 at stumps on the third day, still trailing Bangladesh by 83 runs. Page 15
BGMEA for no hike in power, gas prices
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the government to drop the idea of increasing prices of electricity and gas at this crisis moment, in order to safeguard the garment and apparel industry, export sector and the country's economy. Page 18