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G20 summit concludes with India, Brazil & Russia boasting success

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g20 summit 2023

Indian Prime Minister Narendra Modi concluded the G20 summit on Sunday (10 September), where divisions over the Ukraine conflict and climate change took center stage, granting him a moment in the diplomatic spotlight.

The G20 leaders have been deeply divided over the Ukraine war since Russia’s invasion last year, with Russian President Vladimir Putin notably absent from the summit to avoid political scrutiny. Finding common ground has been a persistent challenge, particularly regarding the ongoing conflict.

In a bid to mitigate a diplomatic embarrassment, India, as the host, pushed for a joint statement on Saturday that condemned the use of force for territorial gain but refrained from direct criticism of Russia. The move was met with mixed reactions, with Kyiv stating that the G20 had “nothing to be proud of,” while Russian Foreign Minister Sergei Lavrov, standing in for Putin, claimed a diplomatic victory by stating that the text didn’t mention Russia.

On Sunday, Modi officially closed the summit by passing a ceremonial gavel to Brazilian President Luiz Inacio Lula da Silva, who will assume the bloc’s presidency in December. Lula emphasized the importance of not letting geopolitical issues overshadow the G20’s discussions and stressed the need for peace and cooperation.

Despite the urgent climate crisis, G20 leaders failed to reach an agreement on phasing out fossil fuels, instead endorsing a target to triple global renewable energy capacity by 2030 and committing to a “phasedown” of coal in line with national circumstances.

Modi, who sees the summit as India’s diplomatic maturation and seeks a permanent seat on the UN Security Council, celebrated the African Union’s accession to the G20, transforming it into a more inclusive “people’s G20.” He also proposed another G20 leaders’ meeting in November via video link, opening the door for Putin and China’s Xi Jinping to participate.

Lula stated that Putin would be welcome to attend next year’s event in Rio de Janeiro, even though Brazil is a signatory to the International Criminal Court (ICC), which has issued a warrant for Putin’s arrest on war crimes charges.

On the summit’s sidelines, Turkish President Recep Tayyip Erdogan held face-to-face talks with Egyptian President Abdel Fattah al-Sisi, marking a significant step in mending a decade-long rift between their countries.

World leaders paid their respects to Mahatma Gandhi, India’s revered independence hero, by visiting the site of his cremation. Many leaders, including Modi, walked barefoot in the rain-dampened area, while others wore slippers as a mark of respect. They observed a moment of silence and laid wreaths at the marble plinth that honors Gandhi’s memory.

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PM Sheikh Hasina Urges UAE Investors to Tap into Bangladesh’s Special Economic Zones

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PM Sheikh Hasina Urges UAE Investors to Tap into Bangladesh's Special Economic Zones

Prime Minister Sheikh Hasina has called on United Arab Emirates (UAE) investors to invest in Bangladesh’s special economic zones. The request was made during a meeting with UAE Ambassador Abdulla Ali Abdulla Khaseif Alhmoudi at her official residence, Ganabhaban, this morning.

According to the Prime Minister’s Press Secretary, Md Nayeemul Islam Khan, the UAE ambassador assured the prime minister that his country would issue visas for Bangladeshi workers, ensuring they have jobs waiting for them in the UAE. The envoy emphasized the importance of preventing illegal migration from Bangladesh, a concern both countries agreed to address more diligently.

The UAE ambassador also mentioned that several UAE ministers are planning to visit Bangladesh soon to explore new avenues for strengthening bilateral relations. “We already have a very extensive and deep tie, but we are eager to take it to a new height,” Alhmoudi stated.

Alhmoudi highlighted that approximately 20,000 Bangladeshis travel to the UAE each month, with the UAE embassy issuing around 1,000 visas daily—500 directly and 500 through agents. He extended an invitation to Prime Minister Sheikh Hasina to visit the UAE, noting that UAE President Sheikh Mohamed bin Zayed Al Nahyan and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum are eagerly waiting to welcome her.

In response to Sheikh Hasina’s appeal for UAE investment in Bangladesh’s special economic zones, Alhmoudi said that the visiting UAE ministers would discuss the matter further. The envoy also sought cooperation from the prime minister to expedite UAE investments in Bangladesh, including in the container terminal sector. Sheikh Hasina assured him that her government is accelerating processes across all sectors.

Additionally, Alhmoudi mentioned that a UAE company is in the final stages of negotiating prices to provide an Advance Passenger Information System (APIS) to Bangladesh’s civil aviation sector. The prime minister delegated the task to PMO Secretary Mohammad Salahuddin.

For security reasons, the US, EU member states, and other countries now require detailed passenger information from airlines before travel, known as Advance Passenger Information (API).

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Bata Shoe Reveals Impressive EPS Surge in Q1

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Bata Shoe

One of the listed companies, Bata Shoe Bangladesh Limited discloses its financial reports for the first quarter, (January – March 24).

The company’s earnings per share (EPS) was Tk 13.42 paisa in Q1 of the current financial year (January – March 24). EPS was Tk 9.96 (restated) paisa during the same period last year. As of March 31, 2024, at the end of the first quarter of the fiscal year, the company’s net asset value (NAV) per share stood at Tk 251.35.

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Rupali Bank Discloses their Dividends

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Rupali Bank

One of the Listed companies, Rupali Bank PLC has recommended No Dividend for the year ended December 31, 2023.

In terms of financial performance, The Company has also reported Consolidated EPS  of Tk. 1.35 for the year ended December 31, 2023. NAV per share of Tk. 36.90 paisa.

The Annual General Meeting (AGM) of the company will be held on July 30, through the digital platform. The record date for this has been fixed at June 12.

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