Dhaka, Aug 29 (UNB)- Local mobile network operator Robi managed to make 1.2 crore taka profit in the second quarter of this year.
The company saw its revenue grow by 1.6% compared to the previous quarter reaching 1,858.7 crore taka. Compared to the same quarter last year, the revenue grew by 12.4%.
Compared to the previous quarter, Robi’s voice revenue grew by 2.8% and in relation to the same quarter last year, the voice revenue grew by 9.7%. While, its data revenue grew by 2.5% compared to last quarter and by 28.9%, compared to the same quarter last year.
Robi’s subscriber base grew by 1.3% from last quarter to reach 4 crore 79 lakhs in Q2,’19, representing 29.6% of the subscriber market share. Compared to the same quarter last year, the subscriber base grew by 7.2% in this quarter. At end of Q2’19, 3 crore 1 lakh subscribers were data users, representing 62.8% of its subscriber base.
Without considering the financial implications of implementing IFRS 16, Robi’s EBITDA stood at 662.6 crore taka in Q2,’19 with 35.6% margin. In terms of EBITDA margin growth in percentage point (pp), Robi’s EBITDA grew by 6.6 pp (without IFRS 16) compared to the previous quarter and by 11.0 pp (without IFRS 16) compared to the same quarter last year. Considering IFRS 16 implications, Robi’s EBITDA stood at 849.9 crore taka at the end of the third quarter of 2019.
Robi’s capex investment declined by 11.7% from last quarter reaching 269 crore taka in Q2,’19. The capex investment was made to finance the company’s 4.5G network expansion and other network upgradation activities. As of now, the company has taken a commanding lead in creating the largest 4.5G network of the country by on-airing 8,080 4.5G sites.
The total capex investment made by the company since its inception reached 23,720 crore taka in this quarter; during this period, Robi has paid a paltry 290 crore taka to its shareholders in the form of dividend.
Robi contributed 679.7crore taka to the Government exchequer in Q2’19 which amounts to 35.6% of the total revenue for the quarter. Robi’s total payment to the Government exchequer since its inception reached 25,190 crore taka in this quarter.
Dhaka, Aug 29 (UNB)- Islami Bank Bangladesh Limited inaugurated its Agent Banking outlet at Bhawal Mirzapur, Gazipur recently.
Abu Reza Md Yeahia, Deputy Managing Director of the Bank inaugurated the outlet as the chief guest. Mohammod Ullah, Executive Vice President and Head of Dhaka East Zone presided over the program while Md Anwar Hossain, Senior Vice President and Head of Gazipur Chowrasta Branch addressed welcome speech.
Md Fazlul Haque Musulli, Chairman of Bhawal Mirzapur Union Parishad, Md Abu Taher Musulli, former Vice Chairman of Gazipur Sadar Upazila, Awlad Hossain Mridha, Managing Director of Unity Febrics Industries Limited and Md Shafiqul Islam, educationists and social workers were present as special guests.
Md Shah Alam, bank’s agent and proprietor of M/s Bipu Enterprise along with local businesspersons, professionals and dignitaries attended the occasion.
Beijing, Aug 29 (AP/UNB) — Asian stocks declined Thursday following Wall Street's rebound amid uncertainty about U.S.-Chinese trade tension.
Market benchmarks in Shanghai, Tokyo and Hong Kong declined.
Investors were looking for news about the outlook for U.S.-Chinese trade negotiations following confusion over President Donald Trump's conflicting statements about the status of talks.
Negotiators are due to meet in September but there has been no sign of progress. Investors worry the spiraling tariff war over trade and technology could tip the global economy into recession.
"Investors are growing more and more uncertain," said Hannah Anderson of JP Morgan Asset Management in a report.
Markets are less sensitive to each announcement of U.S. and Chinese tariff hikes, but "we will likely continue to see downward price action at the announcements of new measures," said Anderson.
The Shanghai Composite Index lost 0.2% to 2,886.83 and Tokyo's Nikkei 225 declined 0.5% to 20,377.97. Hong Kong's Hang Seng retreated 0.8% to 25,394.32.
South Korea's Kospi shed 0.2% to 1,936.70 and Sydney's S&P-ASX 200 was 5 points lower at 6,495.80. Benchmarks in Taiwan, New Zealand and Southeast Asia also retreated.
Wall Street closed broadly higher, recovering from the previous day's losses.
Retailers, health care and industrial companies notched solid gains. Financial and energy stocks also helped power the rally.
The Standard & Poor's 500 index rose 0.7% to 2,887.94. The Dow Jones Industrial Average climbed 1% to 26,036.10. The Nasdaq gained 0.4% to 7,856.88.
Traders looking for safety snapped up U.S. government bonds. The trend drove long-term bond yields further below short-term ones. That inversion of the U.S. yield curve is a rare phenomenon that has correctly predicted previous recessions.
The yield in the 10-year Treasury fell below that of the two-year Treasury for a second day. The 10-year yield slid to 1.47%, down from 1.49% late Tuesday. The two-year dropped to 1.50% from 1.52%.
When the U.S. yield curve inverted earlier this month for the first time since 2007, it led to a broad market sell-off. This week, investors' reaction has been more muted.
U.S. economic growth slowed to an annual rate of 2.1% in the April-June quarter from 3.1% in the first quarter.
While an inverted yield curve has preceded every U.S. recession, it is not a signal that one is imminent. It has taken 14 to 34 months for past recessions to being following a yield curve inversion.
ENERGY: Benchmark U.S. crude lost 20 cents to $55.58 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 85 cents on Wednesday to close at $55.78. Brent crude, used to price international oils, shed 35 cents to $59.58 per barrel in London. It rose 90 cents the previous session to $59.93.
CURRENCY: The dollar declined to 105.89 yen from Wednesday's 106.11 yen. The euro gained to $1.1083 from $1.1078.
Dhaka, Aug 28 (UNB) – Leading electronics manufacturer of the country Walton signed a deal with Indian giant Reliance Retail to sell their products in Indian markets.
Under the agreement, Walton’s line of electronics home appliances will be made available through Reliance to be sold across India.
Walton’s International Business Unit (IBU) President Edward Kim and Executive Vice President and Chief Merchandising Officer (CMO) of Reliance Retail Ltd. Koushal Nevrekar inked the agreement on behalf of their company at Walton Headquarter in Chandra of Gazipur.
SM Ashraful Alam, Managing Director and SM Mahbubul Alam, Director of Waltion Hi-tech Industries Ltd, among others, attended the signing ceremony.
Dhaka, Aug 27 (UNB) - A group of Chinese companies on Tuesday showed interest in investing in different sectors in Bangladesh.
They expressed the interest at a seminar on China-Bangladesh Investment Facilities organised by multinational professional services network, PricewaterhouseCoopers (PwC) at a hotel in the capital.
William Yuan, Partner of Global China Business Network, said they are looking for investment opportunities in Bangladesh.
“There’re a lot of investment opportunities in the infrastructure, energy and power sectors and in the economic zones of Bangladesh,” he said.
Planning Minister MA Mannan said the government is ensuring congenial atmosphere for investment. “We want better investment in the country,” he said.
State Minister for Power Nasrul Hamid said Bangladesh is expecting more from China, noting that there are big investment opportunities in power and energy sectors.
“Many Chinese companies have already invested here,” he added.
Mamun Rashid, Managing Director of PwC Bangladesh, said his organisation is delighted to host so many prominent leaders from both Chinese and Bangladeshi companies at the seminar.
“Bangladesh has emerged as a significant investment destination in South-East Asia over the last few years,” he said.