United News of Bangladesh

The Dhaka Stock Exchange (DSE) is set to introduce a faster and more digitised Initial Public Offering (IPO) process that will allow companies to be listed within six months, said its Acting Managing Director and Chief Operating Officer Mohammad Asadur Rahman. He made the remarks during a discussion with the Bangladesh Ceramic Manufacturers and Exporters Association (BCMEA) at the DSE Tower on Wednesday. “Previously, the IPO process used to take two to four years. With the upcoming digital transformation, it will now be completed in less than half that time,” Asadur said. He said new IPO rules are expected to be approved soon, which will further enhance the authority of stock exchanges. “DSE is undergoing a major digitalisation drive. As part of our customer-centric service, we aim to make the entire IPO process online,” he added. As part of this effort, the DSE is introducing a Central Digital Submission System that will allow listed companies to submit all information, including price-sensitive disclosures, shareholding changes and management updates, in one place. For years, the shortage of new listings weakened the supply side of the market, Asadur noted, adding that the DSE is now focusing on attracting fundamentally strong companies to the bourse. Through its three platforms — the Main Board, SME Board, and ATB Board — the DSE is creating long-term financing opportunities for entrepreneurs, which he said will help reduce the country’s overreliance on bank-based financing. “DSE is now ready to offer one-to-one services. Any company interested in listing on the Main Board or SME Board will receive dedicated support from our team,” he said. Asadur described a strong capital market as one of the key pillars of sustainable economic growth, saying DSE’s transformation aims to bring the industrial sector more closely into the country’s capital market ecosystem. BCMEA Senior Vice President Md Mamunur Rashid lauded the DSE’s move to engage directly with the business community to discuss listing procedures, timelines, and challenges, calling it a “commendable initiative” that will help restore investor confidence. He noted that while Bangladesh’s economy has achieved significant growth over the past five decades, equity financing remains limited. “Around 98 percent of industrial investments still come through banks and financial institutions, which poses a major obstacle to building a sustainable capital market,” Mamunur said. He suggested simplifying the IPO process, shortening the checklist for listing documents, and making tax and dividend policies more investment-friendly. Mamunur also pointed out that compliance costs, including fees for issue managers, auditors, and regulatory submission, often burden companies. “Holding AGMs, filing regulatory documents, and paying various fees create financial and administrative challenges,” he said. He, however, praised the recent digital initiatives by the DSE and related agencies — such as online AGMs, hybrid meetings, and electronic filings — for significantly easing those burdens. Speakers at the discussion also recommended strengthening corporate governance practices, reducing compliance costs, ensuring greater transparency in the activities of issue managers, and organising international roadshows to attract foreign investors.

OpenAI said Tuesday it has completed a major restructuring of its business to become a public benefit corporation, after attorneys general in Delaware and California confirmed they would not oppose the plan. The move allows the developer of ChatGPT to more easily generate profits while its nonprofit arm retains overall control. The announcement follows more than a year of negotiations centered on the company’s governance and investor influence. Chief Executive Sam Altman told reporters that the most likely path for the company now includes a future public listing to meet growing capital demands, although no timeline was announced. OpenAI also finalized a new partnership agreement with longtime backer Microsoft, which will now hold roughly a 27% stake in the for-profit entity — just ahead of the nonprofit’s stake. Microsoft’s investment, valued at $135 billion, remains a crucial part of OpenAI’s funding and infrastructure strategy. Delaware Attorney General Kathy Jennings said her office would continue to monitor whether OpenAI maintains its charitable mission and AI safety standards. California Attorney General Rob Bonta delivered a similar assurance, saying officials will “keep a close eye” on the tech firm. Bret Taylor, chair of OpenAI’s board, said the restructure simplifies the corporate framework and ensures the nonprofit remains in control “with a direct path to major resources before AGI arrives.” AGI — or artificial general intelligence — refers to highly autonomous systems that outperform humans in most economically valuable tasks. The revised Microsoft agreement keeps the tech giant as a key commercial partner. It grants Microsoft access to OpenAI’s advanced technology until at least 2030, or until AGI is independently verified by an expert panel. Microsoft will also retain product rights through 2032. Analysts at JP Morgan called the deal a “positive development,” noting Microsoft can now count on seven years of guaranteed cooperation. The restructuring follows OpenAI’s recent expansion plans, including a massive data center project in Texas in partnership with Oracle and SoftBank, and additional facilities across several continents. Altman said these investments bring the company’s long-term financial commitments to roughly $1.4 trillion. OpenAI’s nonprofit arm — now named the OpenAI Foundation — plans to allocate up to $25 billion to initiatives in healthcare, disease prevention and cybersecurity. Details on the funding timeline were not disclosed. Despite safeguards ensuring nonprofit oversight, some critics remain unconvinced. Robert Weissman of Public Citizen said the arrangement risks prioritizing commercial interests over public benefit, arguing that nonprofit control “is illusory.” The restructuring comes nearly a year after Altman’s brief ousting by the nonprofit’s board sparked internal turmoil and a push for governance reforms. OpenAI continues to face a legal challenge from Tesla and xAI CEO Elon Musk, who claims the organization abandoned its original mission. A federal judge earlier declined to block the restructuring but signaled Musk’s lawsuit could proceed quickly. Source: AP

Wall Street posted modest gains on Tuesday as investors awaited the Federal Reserve’s interest rate announcement and a planned meeting between President Donald Trump and Chinese President Xi Jinping later this week. Futures for the S&P 500 rose less than 0.1%, Dow Jones futures gained 0.3%, and Nasdaq futures were up 0.1% before the opening bell. Investor attention was also on corporate earnings, with Amazon shares climbing slightly following the announcement of 14,000 corporate job cuts aimed at cost reductions and AI investment. UPS surged 12% after reporting strong third-quarter sales and profits, benefiting from cost-cutting measures. Traders widely expect the Fed to lower the federal funds rate by 0.25 percentage points to support the slowing job market, though officials have cautioned that rising inflation could alter plans. Key U.S. companies, including Alphabet, Meta, Microsoft, Amazon, and Apple, are set to release earnings reports this week. In Asia, Japan’s Nikkei 225 fell 0.6% after hitting record highs earlier this month following Prime Minister Sanae Takaichi’s economic stimulus and defense pledges. Other Asian markets, including Hong Kong, Shanghai, South Korea, and Australia, also saw minor declines. European markets showed mixed results, with slight losses in France and Germany and a small gain in the U.K. Crude oil prices fell early Tuesday, with U.S. benchmark crude down 83 cents to $60.49 per barrel and Brent crude at $64.08.    

In a move to deepen Bangladesh’s capital market and enhance access to finance for small and medium enterprises, the Dhaka Chamber of Commerce and Industry (DCCI) and the Dhaka Stock Exchange (DSE) on Tuesday inked a Memorandum of Understanding (MoU) to promote SME listings, attract investors and introduce innovative financial products. The signing took place as part of the follow-up to a meeting held on September 16 at the DCCI office in Gulshan between the boards of DCCI and DSE, where both sides agreed to work jointly for accelerating the country’s economic growth and ensuring a stronger, more sustainable capital market. DSE Chairman Mominul Islam signed the MoU on behalf of the Dhaka Stock Exchange, while DCCI President Taskeen Ahmed represented the Dhaka Chamber of Commerce and Industry. Speaking on the occasion, DSE’s Chief Operating Officer and Acting Managing Director Mohammad Asadur Rahman said the MoU marks a new chapter of joint efforts toward capital market development. He said a dedicated DSE team will work closely with DCCI to involve more SMEs in the capital market. Initially, awareness campaigns will be conducted, and necessary support will be provided to facilitate the listing process for entrepreneurs. “This joint initiative will yield positive results for both institutions and make the capital market more vibrant,” he added. DCCI Taskeen said the agreement is more than a formality—it is a joint commitment to make the private sector more dynamic, foster knowledge and innovation exchange, and explore new avenues in the economy through joint research. “Our economy is still heavily bank-dependent. It is time to work together for the development of the capital market,” he said, expressing confidence that collaborative efforts would help build a strong and sustainable financial base where the private sector and capital market complement each other. Taskeen said DCCI has long been working on MSME development and research. “This MoU will open new opportunities for SMEs to access financing through the capital market. We aim to enhance market participation of SME entrepreneurs through knowledge sharing, awareness building, and research,” he noted. DSE Chairman Mominul Islam said the country’s capital market has yet to meet the expectations of the national economy as there remains excessive reliance on the banking sector for long-term financing. “This dependence hinders the sustainable development of both the banking and capital markets,” he said. He stressed the need for enhancing market depth by increasing the number and quality of listed companies, introducing new investment products such as derivatives, and engaging institutional and high-net-worth investors. Describing DSE as a customer-centric organisation, he emphasised close collaboration and technological integration among stakeholders, including investors, listed companies, issue managers and fund managers. “DSE is working to establish an integrated technology ecosystem to ensure effective connectivity across all market participants,” he said. He also appreciated DCCI’s sincere cooperation in the initiative, saying the MoU will open a new horizon of collaboration between the two institutions. Mominul said DSE will also work to raise awareness about its Alternative Trading Board (ATB) to help unlisted companies transfer and trade shares transparently and efficiently. “In partnership with stakeholders like DCCI, we aim to move forward together—with trust, collaboration, and a shared vision—to make Bangladesh’s capital market stronger and more dynamic in the days ahead,” he said.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Mahmud Hasan Khan on Tuesday urged the government to review the recently approved Bangladesh Labour (Amendment) Ordinance 2025 as several of its provisions could destabilise the industrial sector and undermine Bangladesh’s export competitiveness ahead of its LDC graduation. Country’s manufacturing industries are already under ‘unprecedented pressure’ due to global economic challenges, rising domestic costs, and policy uncertainties, he said at an emergency press conference held at BGMEA’s Nurul Qader Auditorium in Dhaka. Hasan Khan expressed deep concern over several provisions in the new labour amendment, particularly the decision to allow trade unions in factories with as few as 20 workers. “This is an unrealistic and destabilising decision,” he said. “Such a low threshold will allow individuals unrelated to the industry to form unions, causing internal conflict and disruption in production.” AI reshaping Bangladesh’s industrial, service sectors: DCCI President He noted that in India, at least 10% of workers or a minimum of 100 workers are required to form a union while in Pakistan, the threshold is 20%. “Compared to these standards, Bangladesh’s provision is the weakest in South Asia. It will send a negative signal to foreign investors,” he added. The BGMEA president also objected to the approval of both the ‘Bhobisshot Tohobi’l and ‘Progoti’ schemes simultaneously, allowing workers to participate in both. “This will force employers to run two parallel financial systems,” Khan said, calling it a recipe for administrative disorder and higher costs. He cited examples from India, Pakistan, Vietnam, and Sri Lanka — all of which operate under a single national pension or provident fund structure. Turning to the recent 41% increase in Chattogram Port tariffs, the BGMEA president said the decision would further burden export-oriented industries already facing steep operational costs. Newly elected leadership of Petrobangla Officers' Association takes oath  “Chattogram Port is not a loss-making entity; it consistently reports profits. As a public service provider, its goal should not be profit maximisation,” he said. The BGMEA chief outlined multiple cost escalations facing the industry: 56% minimum wage increase effective from December 2024, 9% annual wage increment, higher gas and diesel prices, a 60% reduction in export incentives since 2023, and persistently high bank interest rates. “These factors have already raised production costs significantly,” he said.  “The issues we have raised — labour law reform, port tariff increases, and LDC transition — are not short-term concerns. They will shape our future generations’ economic reality,” he said. “On behalf of all export-oriented industries, we urge the government to take prompt, positive, and effective measures that align with the real needs of industry, workers, and the national economy,” he added.  He urged the government to take a business-friendly and pragmatic approach to sustain competitiveness as Bangladesh moves toward LDC graduation. He also called for urgent action to resolve gas shortages, simplify customs and NBR procedures, ensure efficient logistics and infrastructure, and expand access to affordable financing.     

Indices on both the Dhaka and Chattogram stock exchanges witnessed an upward trend in the first hour of trading on Tuesday, with most companies seeing gains. At the Dhaka Stock Exchange (DSE), the benchmark index DSEX rose by 18 points, while the Shariah-based DSES gained 3 points and the blue-chip DS30 advanced 9 points. Of the 380 issues traded, the prices of 209 companies increased, 100 declined and 71 remained unchanged. The DSE recorded a turnover of over Tk 160 crore in the first hour of trading. DSE to introduce Tk 0.01 tick size for shares priced below Tk 1 The Chittagong Stock Exchange (CSE) also saw a positive start, with its overall index rising by 3 points. Among the 77 companies traded, the prices of 32 advanced, 38 declined and 7 remained unchanged. The turnover at the CSE stood at over Tk 9 crore during the first hour.

The price of gold in the local market has dropped again within just 24 hours, with the Bangladesh Jewellers Association (BAJUS) reducing the rate by Tk 3,674 per bhori (11.664 grams). In a press release issued on Monday night, BAJUS announced that the price of 22-carat gold will now stand at Tk 204,283 per bhori, effective from Tuesday. According to the association, the price adjustment was made considering the fall in the price of pure gold (tejabi gold) in the local market. As per the new rate, the price of 21-carat gold has been set at Tk 194,999 per bhori, 18-carat at Tk 167,145 per bhori, and traditional gold at Tk 138,942 per bhori. BAJUS said a 5 percent government VAT and a minimum 6 percent making charge—determined by the association—must be added to the sale price of gold.  However, the making charge may vary depending on the design and quality of jewellery. Earlier, on October 26, BAJUS reduced gold prices by Tk 1,039 per bhori, setting the 22-carat rate at Tk 207,957 per bhori. With this latest adjustment, BAJUS has revised gold prices 69 times so far this year—increasing them 48 times and reducing them 21 times.

Dhaka Chamber of Commerce and Industry (DCCI) President Taskeen Ahmed on Monday said artificial intelligence (AI) is reshaping Bangladesh’s industrial and service sectors, making it imperative to develop smart and skilled human resources to remain competitive in the era of the Fourth Industrial Revolution (4IR). He made the remarks while speaking at a roundtable titled ‘Smart Human Capital Development in the Context of the Fourth Industrial Revolution (4IR)’ held at the DCCI Auditorium. Executive Chairman of the National Skills Development Authority (NSDA) Dr Nazneen Kawshar Chowdhury attended the event as the chief guest. Taskeen said the Fourth Industrial Revolution is not merely a technological shift but a fundamental transformation of production systems, business operations and labour markets. Citing a World Economic Forum report, he noted that nearly one-fourth of existing jobs will be transformed within the next five years. “In the post-LDC era, smart human resources will be a key instrument to sustain competitiveness,” he said, stressing the need for fundamental reforms in the education system, greater emphasis on technical education, and stronger industry-academia collaboration. Dr Nazneen Kawshar highlighted the lack of coordination among government agencies and limited awareness about skills development as major challenges. She said that after establishing its institutional structure, the NSDA is now focusing on human resource training, including initiatives to send 100,000 skilled workers to Japan through language and technical training programmes. She also called for integrating skill development with 4IR needs, enhancing public-private partnerships, and promoting upskilling opportunities for women workers. Presenting the keynote paper, Dr M Niaz Asadullah, Visiting Professor of Economics at the University of Reading, UK, referred to a 2019 a2i-UNDP study projecting the potential loss of around 5.38 million jobs in Bangladesh’s RMG, food, agriculture, furniture, tourism and hospitality sectors by 2030 due to technological advancements. He urged greater investment in workforce training and modernization of the education system to prepare workers for AI-driven transformations. ICMAB President Mahtab Uddin Ahmed said that only 20 percent of graduates secure jobs matching their qualifications, underscoring the need to promote technical and vocational education and change social perceptions regarding skill-based careers. DCCI Senior Vice President Razeev H Chowdhury, Vice President Md Salem Sulaiman, directors and other stakeholders were also present at the discussion.

Customers making the highest amount of bKash payments each month on flight, bus ticket purchases, and hotel bookings will win a trip to Nepal or the Maldives, according to a media statement. The second and third highest payers will receive a Cox’s Bazar tour and a luxury hotel staycation, respectively. In addition, travellers can enjoy cashback, discounts, and coupons worth up to Tk 4,000 on bKash travel payments. To encourage digital payments in travel services, bKash has jointly introduced these prizes with ShareTrip, Amy Travel, and InterContinental Dhaka. Based on the highest bKash payments, a total of 12 winners (3 winners per month over 4 months) will win these prizes during the offer period. The campaign started on October 1, 2025, and will run until January 31, 2026. Detailed information about the offer can be found at this link - https://tinyurl.com/537tapnk. Available offers are: Online Travel Agencies: Many travellers rely on online travel agencies to confirm their hotel or travel tickets before setting out. Customers will receive a cashback of Tk 1,000 to Tk 4,000 when they make a bKash payment of Tk 35,000 or more while booking through specific online travel agencies, including ShareTrip, Amy Travel, GoZayaan, and Firsttrip. This offer can be availed once per day and a maximum of two times during the campaign period. Customers can get the cashback by paying through the bKash app as well as from payment gateway. Travel Agencies: Additionally, for bookings from select travel agencies such as SS International Travels & Tours, Fortune Travels Ltd., Vromonto, Navigator Tourism, and Go Plane, customers can use code ‘T3’ and make a minimum bKash payment of Tk 5,000 to receive a Tk 200 discount. This offer can be availed once per day and up to two times during the campaign, for a total discount of Tk 400. Hotel Booking & Services: The service of booking small or large hotels across the country using bKash payment is quite popular. Customers will get up to Tk 300 cashback on a bKash payment of Tk 10,000 or more for bookings at specific hotels, including Sayeman Beach Resort, Sairu Hill Resorts, Seagull Resort, Momo Inn, and Radisson Blu Chattogram Bay View. The offer can be availed once per month and up to five times during the campaign, for a total cashback of Tk 1,500. Meanwhile, customers will get a Tk 100 discount on a minimum payment of Tk 5,000 using the code ‘T4’ during bKash payment for room bookings at specific hotels and resorts, including Chuti Resort, Brac CDM Savar, Naz Garden, and Nazimgarh Resort. The offer can be used once per day and up to three times during the campaign, for a total discount of Tk 300. Discounts on bKash payments are available not only for travel outside Dhaka but also for staycations within Dhaka. At select hotels such as InterContinental Dhaka, Sheraton Dhaka, and Pan Pacific Sonargaon, customers can use the coupon code ‘S1’ and make a minimum bKash payment of Tk 2,000 to receive a Tk 200 discount. This offer can be used once per day and up to five times during the campaign, for a total discount of Tk 1,000. Air Ticket Booking: Customers can receive discounts by purchasing tickets directly from airline service providers using bKash payments. For ticket bookings from Biman Bangladesh, Novoair, US-Bangla, and Air Astra, customers can use code ‘T1’ and make a minimum bKash payment of Tk 5,000 to receive a Tk 200 discount. This offer can be used once per day and up to two times during the campaign, for a total discount of Tk 400. Bus Ticket Booking: Due to affordability and accessibility, buses are one of the most popular and preferred modes of travel. Customers can also enjoy discounts on bus travel with bKash payments. For ticket purchases from Shyamoli Paribahan, customers can use code ‘T6’ and make a minimum bKash payment of Tk 1,000 to receive a Tk 100 discount. This offer can be used once per day and up to two times during the campaign, for a total discount of Tk 200. Additionally, for ticket purchases from Imperial Express and Sheba Green Line Transport, customers can use code ‘T5’ and make a minimum bKash payment of Tk 1,000 to receive a Tk 50 discount. This offer can be used once per day and up to two times during the campaign, for a total discount of Tk 100. Amusement Park Tickets: To purchase tickets for Fantasy Kingdom, Water Kingdom, Foy’s Lake, Sea World, and Foy’s Lake Basecamp, customers can use code ‘T2’ and make a minimum bKash payment of Tk 500 to receive a Tk 100 discount. This offer can be used once per day and up to two times during the campaign, for a total discount of Tk 200. Airport Lounge: To enhance the joy of travel, bKash customers can enjoy access to the Balaka Executive Lounge at Hazrat Shahjalal International Airport, along with a “Buy One Get One” offer. By using the lounge and making a bKash payment of Tk 4,800, customers will receive Tk 2,400 cashback. This offer can be availed only once.

China’s long-term effort to challenge the global dominance of Boeing and Airbus with a homegrown commercial jet is facing mounting obstacles, with deliveries of its C919 aircraft expected to fall significantly below targets set for this year. The C919, a single-aisle jet positioned to compete with Boeing’s 737 and Airbus’ A320, is developed by state-owned manufacturer COMAC. Beijing has held it up as a symbol of technological progress and growing self-reliance, despite the aircraft’s heavy use of Western components. Ongoing trade tensions with the United States are threatening access to crucial parts needed for COMAC’s production plans, a program that has relied on extensive Chinese government funding. “COMAC faces substantial risks in the current unpredictable policy climate, as its supply chain remains exposed to export controls and retaliatory measures between Washington and Beijing,” said Max J. Zenglein, Asia-Pacific senior economist at The Conference Board. Analysts at Bank of America say the C919 program depends on 48 major U.S. suppliers such as GE, Honeywell and Collins Aerospace, along with 26 European and 14 Chinese firms. Trump has signaled potential new export curbs on “critical” software, following China’s tighter restrictions on rare earths. “Existing choke points are increasingly being used as leverage between governments,” Zenglein noted. “This trend is likely to continue as strategic dependencies become political bargaining chips.” The C919 completed its first commercial flight in 2023 and is expected to help meet huge domestic demand for new aircraft over the coming decades, with hopes of eventual international expansion across Southeast Asia, Africa and Europe. According to aviation consultancy Cirium, COMAC delivered 13 C919s last year but only seven so far this year, falling behind plans to boost production and supply 30 jets in 2025. At present, only China’s three largest state-owned carriers — Air China, China Eastern and China Southern — are flying around 20 C919s in total. Dan Taylor, head of consulting at IBA, said trade friction has “directly affected” delivery timelines. The U.S. suspension of export licenses for the aircraft’s LEAP-1C engines earlier this year, only reinstated in July, disrupted production plans, he added. Trump vows extra 10% tariff on Canadian imports over Ontario ad dispute The LEAP-1C engines, jointly built by GE Aerospace of the U.S. and France’s Safran, require U.S. export clearance, making the jet highly sensitive to political shifts. “Reliance on Western engines and avionics continues to leave the program vulnerable to policy decisions outside COMAC’s control,” Taylor said. Operational caution has also slowed progress, said Zenglein, noting that quality and safety priorities have contributed to the slower-than-expected production increase. Efforts to replace foreign parts remain complex, and China’s alternative engine, the CJ-1000A, is still undergoing tests, according to IBA. Interest from foreign airlines including AirAsia has yet to translate into global operations due to the absence of U.S. and European certifications, which analysts say may take years. For the C919 to become competitive worldwide, it will require strong economics, a reliable global support network and approvals from major safety regulators, said Richard Aboulafia of AeroDynamic Advisory. China could require 9,570 new commercial aircraft between 2025 and 2044, Airbus forecasts, with single-aisle jets like the C919 making up the bulk of demand. Yet Airbus itself is ramping up its presence in China, adding a second A320 production line in 2026. Trump halts Canada trade talks after Ontario’s anti-tariff ad Analysts say breaking the Boeing-Airbus duopoly will take time. The C919 could expand its footprint within China and begin regional exports by the late 2020s, Taylor said. For now, limited certification and export control uncertainties are expected to continue restraining its international ambitions. Source: AP