United News of Bangladesh

The Dhaka Stock Exchange (DSE) has witnessed an 18 percent decline in average daily turnover this week, even as all major indices edged higher, reflecting cautious investor sentiment amid a modest market recovery. The report shows that the market’s average daily turnover during the week stood at Tk 427 crore, down from Tk 522 crore in the previous week — a decline of nearly Tk 100 crore. Despite the lower trading volume, all DSE indices recorded growth over the five working days. The benchmark DSEX rose 30 points, starting the week at 5,119 points and closing at 5,149 points. The blue-chip DS30 index gained 30 points, the Shariah-based DSES added 2 points, and the SME index DSMEX rose 24 points. However, price movements were mostly negative. Out of the companies active in trading, 203 saw their share prices decline, 157 companies recorded price gains, and 32 remained unchanged. Sector-wise Performance Among the 21 sectors, prices fell in 16 and rose in five. Corporate bonds suffered the steepest decline at 77 percent, followed by the banking sector (-22 percent), general insurance (-35.59 percent), and life insurance (-30.67 percent). Other notable declines were seen in energy (-30.91 percent), leather (-47.39 percent), telecom (-10.88 percent), textiles (-32.63 percent), tourism (-27.58 percent), ceramics (-26.21 percent), and the food sector (-7.88 percent). Miscellaneous (-21.68 percent), paper (-6.51 percent), and pharmaceuticals (-5.50 percent) also posted losses. On the upside, mutual funds led sectoral gains with a 32.89 percent increase, followed by financial institutions (+2 percent), real estate (+2 percent), IT (+13 percent), and cement (+6.34 percent). Top Five Gainers at DSE ·         Information Services Network Ltd. ·         Bangladesh Finance PLC ·         VFS Thread Dyeing Limited ·         Samata Leather Complex Ltd. ·         Aramit Limited   Top Five Losers at DSE: ·         Apex Footwear Limited ·         First Security Islami Bank PLC ·         Khan Brothers PP Woven Bag Industries Limited ·         Monno Agro & General Machinery Limited ·         Zaheen Spinning PLC ·         Chittagong Stock Exchange (CSE) At the CSE, the benchmark CASPI fell 55 points during the week. While the CSE30 index rose 46 points, the CSCX lost 16 points. Among 310 companies traded during the week, prices fell for 191 companies, rose for 97, and remained unchanged for 22. Top Five Gainers at CSE ·         Bangladesh Finance Limited ·         VFS Thread Dyeing Limited ·         National Housing Fin. & Inv. PLC ·         Union Capital Limited ·         Crown Cement PLC Top Five Losers at CSE ·         New Line Clothings Limited ·         Apex Footwear Ltd. ·         FAS Finance & Investment Ltd. ·         Union Bank PLC ·         People’s Leasing & Fin’l Serv.    

Bangladesh Bank is ready to extend all possible support -- from policy reforms to easier loan access -- to strengthen the country’s private sector, said Nawshad Mustafa, Director of the central bank’s SME and SPD departments. Speaking at a seminar organised by the Dhaka Chamber of Commerce and Industry (DCCI) on Saturday, Nawshad said the SME loan policy has already been revamped to make credit access smoother. “However, if further simplification is needed, Bangladesh Bank is ready to take that step,” he added. Nawshad urged businesses to provide specific feedback rather than general requests. “Instead of saying ‘make loans easier,’ please tell us exactly where and how much flexibility would help you. We will consider those points in revising the policy,” he said. Terming the private sector the main driving force of Bangladesh’s economy, Nawshad reaffirmed the central bank’s openness to cooperate with businesses, and emphasised the importance of timely and reliable data for effective policymaking. “The data we receive must be actionable and free of major gaps. Discussing 2024’s data in 2025 won’t lead to timely solutions,” he noted. Bangladesh Bank reinstates extra increment benefit to attract, retain top talent Unlike countries such as the UK, Nawshad said, Bangladesh’s monetary policy is not yet credit-oriented, an area where future reforms could bring positive changes. Bangladesh Bank’s Director (Research) Salim Al Mamun also spoke at the event, stressing that data should not only highlight progress but also reveal underlying challenges. “Only then can proper analysis lead to meaningful decisions,” he said. Salim underscored the importance of cross-time comparisons to better interpret economic indicators and understand subtle trends within the economy.

The Dhaka Chamber of Commerce and Industry (DCCI) has announced plans to introduce a quarterly Economic Position Index (EPI) to assess Bangladesh’s overall economic activities on a regular basis. DCCI President Taskeen Ahmed disclosed the initiative on Saturday during a focus group discussion held at the DCCI Auditorium in Motijheel. He said the existing indicators — such as the Business Confidence Index, Ease of Doing Business Index, or GDP growth — cannot fully capture the country’s real economic dynamics. “To bridge this gap, DCCI has taken the initiative to develop the EPI.This index will provide real-time insights into key aspects of the economy including production, sales, order flows, exports, employment and investment trends,” said the DCCI president. Initially, the survey for the index has been conducted in Dhaka, but the chamber plans to gradually expand it nationwide to reflect broader economic movements across the country. Taskeen said the EPI will not just be a statistical report, but a practical policy-support tool that can help identify sectoral trends and shifts more faster. DCCI voices deep concern over HSIA cargo village fire The index will enable a quarterly analysis of performance across manufacturing and service sectors, covering areas such as ready-made garments, textiles, wholesale and retail trade, real estate, transport, storage and banking. Discussants at the event emphasised that in a rapidly changing economy, timely and data-driven policymaking is essential.  They said the EPI will serve as an 'early-warning economic assessment platform,' helping policymakers take informed and effective decisions. Effective branding, compliance key to boosting CMSME exports: DCCI  

President Donald Trump has announced an end to “all trade negotiations” with Canada, citing anger over a television commercial sponsored by the province of Ontario that uses Ronald Reagan’s words to oppose U.S. tariffs. The move escalates tensions with Washington’s closest trading partner. Trump’s post on his social media platform late Thursday came shortly after Canadian Prime Minister Mark Carney reiterated his intention to boost the country’s exports to markets beyond the United States, saying Trump’s tariff threats were driving the shift. White House officials said the president’s response reflected deep frustration over Canada’s recent trade strategy. By Friday afternoon, Ontario Premier Doug Ford agreed to pull the ad, saying it will stop airing after the weekend so negotiations can restart. He said the message had already reached “U.S. audiences at the highest levels.” “Our intention was always to initiate a conversation about the kind of economy that Americans want to build and the impact of tariffs on workers and businesses,” Ford said, adding that the campaign had “achieved our goal.” Trump argued the ad distorted Reagan’s stance and was aimed at influencing a looming Supreme Court case that could determine the president’s authority to impose sweeping tariffs, a cornerstone of his economic agenda. He has indicated he may personally attend the court arguments. Oil prices surge as Trump sanctions Russian giants; Wall Street opens mixed “You know, it’s a crooked ad,” Trump told reporters Friday before leaving for Asia. “They could have pulled it tonight. Well, that’s dirty play — but I can play dirtier than they can, you know.” The dispute grew after the Reagan Presidential Foundation said the ad “misrepresents” a 1987 radio address on free and fair trade and was used without permission. Trump claimed online the advertisement was “FAKE” and said, “ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED.” While Reagan routinely warned against tariffs, Trump maintains they are vital to America’s security and economy. Officials at the White House suggested the reaction was not solely about the ad. “It’s not just about one ad,” said Kevin Hassett, director of the National Economic Council, pointing to Canada’s “lack of flexibility” and “leftover behaviors from the Trudeau folks.” Carney said Canada remains open to talks to reduce tariffs in key sectors, though he acknowledged American trade policy has “fundamentally changed.” Trump, however, dismissed the possibility of meeting Carney at the ASEAN summit in Malaysia, where both are traveling. Carney vows to double Canada’s non-U.S. exports, says country ‘can’t rely on one partner’ Ontario invested more than $275,000 to air the Reagan-themed ad across most major U.S. media markets this month. It follows previous trade tensions between Ford and Trump, including retaliatory tariff exchanges that hit Canada’s auto industry hardest. Earlier this month, automaker Stellantis revealed plans to shift a production line from Ontario to Illinois due to the tariff dispute. Despite the current freeze, more than three-quarters of Canada’s exports still head to the United States, with nearly $2.7 billion in goods and services crossing the border each day. Source: AP 

Noted businessman Abdul Awal Mintoo has been awarded the Top Agri-Food Pioneer (TAP) 2025 by the World Food Prize Foundation for his outstanding contribution to agriculture, food technology and innovation in Bangladesh. The award was handed over to Mintoo on Wednesday at the Borlaug Dialogue conference held in Des Moines, Iowa, in the United States, said a press release on Friday. The event was jointly organised by the World Food Prize Foundation (WFPF) and the US Department of State. This prestigious recognition, coinciding with the Foundation's 39th anniversary, celebrates Mintoo's outstanding contributions to transforming food systems and strengthening global food security. Lal Teer Seed Ltd and Lal Teer Livestock Development (BD) Ltd are concerns of Multimode Group. The Foundation gives this award every year to honour individuals who play a leading role in transforming the global agriculture and food system through innovation, sustainability and improvement of farmers’ livelihoods. Taufiq Uddin Ahmed awarded for contributions to aviation and tourism sectors The organisers said Mintoo has made remarkable contributions in three areas – improving the quality of Bangladesh’s agriculture and food sector, expanding technology-based farming, and building a market for local agricultural products. Mintoo is the founder of Lal Teer Seed Ltd and Lal Teer Livestock Development (BD) Ltd, two leading concerns of the Multimode Group. Founded in 1995, Lal Teer Seed Ltd is now one of the country’s top seed suppliers, meeting around 20 percent of the total national demand. The company works with about 14,000 contract growers, benefiting around 15 million farmersacross Bangladesh. In 2011, Mintoo set up Lal Teer Livestock Development (BD) Ltd to boost milk and meat production. The company produces quality semen from improved breeds of bulls and runs sustainable artificial insemination programmes. Its farmer training and knowledge-sharing initiatives have also helped increase livestock productivity. Speaking after receiving the award, Mintoo said the honour was the result of the joint efforts of Bangladesh’s farmers, researchers and young entrepreneurs. Agri-visionary Abdul Awal Mintoo named ‘Global Agri-Food Pioneer’ “This achievement belongs to all who work for our country’s agriculture. We want Bangladesh’s farming to be innovative, sustainable and globally competitive,” he said. Mashal Husain, President of the World Food Prize Foundation, said the 2025 TAP award highlights individuals who show extraordinary leadership and creativity in building a fair and sustainable global food system. A law and agricultural economics graduate, Mintoo has long been recognised for his contribution to promoting food and nutrition security in Bangladesh.

For most business leaders, a year marked by plunging profits, lawsuits, boycotts, and federal investigations would spell disaster. But Elon Musk is not most business leaders. Despite a string of setbacks, the world’s richest man has become even wealthier this year — and shareholders at Tesla could soon make him richer still. The electric carmaker is set to vote next month on a proposed trillion-dollar pay package for Musk, betting that his bold vision for a “robot army” and other futuristic technologies will pay off, even as some of his earlier promises remain unmet. “The genius of Elon Musk is keeping investors focused on what the company might look like in five or ten years — while ignoring very near-term challenges,” said Garrett Nelson of CFRA Research. Zacks Investment’s Brian Mulberry put it more bluntly: “Your average CEO would likely not survive this.” Musk began the year with a controversial government role as head of President Donald Trump’s Department of Government Efficiency (DOGE), pledging to slash $2 trillion in spending — a goal he later halved. DOGE ultimately claimed $240 billion in savings, though experts question whether those cuts were sustainable, with many essential roles now being refilled. “He cuts without a plan, without regard to function,” said Elaine Kamarck, a senior fellow at the Brookings Institution, noting that 17,000 government positions are now being reinstated. Musk’s cost-cutting tactics have also resurfaced in his management of X, formerly Twitter. In recent months, he quietly settled lawsuits brought by about 2,000 former employees and executives who alleged wrongful termination or unpaid severance. The settlements’ total cost remains undisclosed but could amount to hundreds of millions of dollars for a company still struggling with a collapse in advertising revenue. Adding to his woes, Tesla reported a 37% plunge in third-quarter earnings on Wednesday. While vehicle sales rose 6% as customers rushed to take advantage of an expiring tax credit, overall demand is expected to drop sharply, as consumers turned off by Musk’s polarizing political views continue to boycott the brand. A year ago, Musk had projected sales growth of up to 30%. Despite the decline, Tesla shares have rebounded in recent months, doubling since May after Musk’s much-publicized exit from DOGE. The stock is now up nearly 9% for the year, boosting his personal fortune by $62 billion to $483 billion, according to Forbes. Investors appear willing to overlook short-term turbulence, focusing instead on Musk’s next ventures — from driverless robotaxis to home and factory robots. Yet many of these projects remain in early stages. Tesla’s robotaxi service, operating in Austin and San Francisco, still requires human “safety monitors,” and regulators are scrutinizing its self-driving technology. U.S. authorities have opened four investigations this year, including one into Tesla’s failure to promptly report accidents involving its software. Musk has a history of overpromising and missing deadlines, only to rebound later. Investors who endured Tesla’s production struggles in 2018 eventually saw the stock soar as the Model 3 found success. “He frequently teeters on the edge of disaster,” said Nancy Tengler, a longtime Tesla investor. “And then he pulls back just in the nick of time.” Even so, analysts warn that expectations are sky-high. While the average S&P 500 company trades at 24 times next year’s projected earnings, Tesla’s valuation stands at a staggering 250 times — reflecting both boundless faith in Musk’s vision and the enormous risks if he falters. For Elon Musk, a year that would have broken most CEOs is shaping up to be another paradoxical triumph — a turbulent yet spectacular ride that only he could pull off. Source: AP

Wall Street opened Thursday with modest, mixed trading, while oil prices spiked more than 5% after U.S. President Donald Trump announced sweeping sanctions on Russia’s top energy companies. Futures for the S&P 500 and Nasdaq inched up less than 0.1%, while the Dow Jones industrials slipped about 0.1%. The sanctions on Rosneft and Lukoil aim to pressure Russian President Vladimir Putin into peace talks and help end Moscow’s war on Ukraine. In Europe, leaders meeting in Brussels were preparing to approve additional sanctions on Russia and move forward with plans to use Moscow’s frozen assets to fund Ukraine’s war effort and stabilize its economy for the next two years. U.S. benchmark crude jumped $3.13 to $61.63 per barrel, and Brent crude rose the same amount to $65.72. Corporate earnings weighed on markets. Tesla shares fell 3.2% after reporting a 37% year-over-year drop in quarterly profit — its fourth straight decline. CEO Elon Musk downplayed car sales, instead promoting the company’s robotaxi service, AI products, and humanoid robot line. IBM tumbled 6.8% after showing slower cloud revenue growth, despite beating forecasts. Molina Healthcare plunged more than 20% after missing earnings expectations and cutting its annual profit outlook amid high costs. Across Europe, Germany’s DAX slipped 0.3%, while London’s FTSE 100 gained 0.6% and France’s CAC 40 rose 0.4%. In Asia, markets were mixed as China wrapped up a key Communist Party meeting outlining its five-year economic strategy. Hong Kong’s Hang Seng gained 0.7% to 25,967.98, and the Shanghai Composite added 0.2% to 3,922.41, amid reports of tighter U.S. export controls on China. Japan’s Nikkei 225 fell 1.4% to 48,641.61 after reports that Prime Minister Sanae Takaichi is planning a stimulus package exceeding 14 trillion yen ($92 billion). SoftBank shares dropped over 4% after announcing bond plans to fund AI investments. The yen weakened as Takaichi signaled support for low interest rates, with the dollar rising to 152.75 yen from 151.94. South Korea’s Kospi fell 1% to 3,845.56 amid slow progress in U.S. trade talks, while Australia’s S&P/ASX 200 edged up 0.1%. Taiwan’s Taiex slipped 0.4%, and India’s Sensex rose 0.6%. Gold prices rebounded 1.6% to $4,131.80 after two days of declines from record highs.

Prime Minister Mark Carney has set a goal to double Canada’s non-U.S. exports within the next decade, saying that rising American tariffs are undermining investment and threatening Canadian jobs. Speaking ahead of his government’s budget release on November 4, Carney said Wednesday that Canada’s long-standing economic dependence on the United States has turned from a strength into a vulnerability. “The jobs of workers in our industries most affected by U.S. tariffs — autos, steel, lumber — are under threat. Our businesses are holding back investments, restrained by the pall of uncertainty that is hanging over all of us,” Carney said. U.S. President Donald Trump has imposed tariffs on several Canadian sectors and recently claimed Canada could become “the 51st state,” remarks that have further strained relations between the two neighbors. In a televised address, Carney said the decades-long process of deepening economic ties between Ottawa and Washington has effectively ended. “The U.S. has fundamentally changed its approach to trade, raising its tariffs to levels last seen during the Great Depression,” he said. “We have to take care of ourselves because we can’t rely on one foreign partner.” Japan's exports and imports grow in September despite Trump's tariffs While tensions have eased slightly as Carney pursues a new trade deal with Washington, tariffs continue to hit key industries such as steel, aluminum, autos, and lumber. More than 75% of Canada’s exports currently go to the United States. Carney said Canada is “re-engaging with the global giants India and China” in an effort to diversify its trade. Canada remains a vital supplier of energy and resources to the U.S., providing 60% of its crude oil imports, 85% of its electricity imports, and large shares of steel, aluminum, and uranium. The country also holds 34 critical minerals and metals sought by the Pentagon for national security. “Canada is an energy superpower,” Carney said, noting the country’s third-largest oil reserves and fourth-largest natural gas reserves globally. The 2026 review of the Canada-U.S. free trade agreement is expected to further test the economic relationship between the two allies. China’s economic growth slows to 4.8% in Jul–Sep amid tariffs, weak demands “I will always be straight about the challenges we have to face and the choices we must make,” Carney said. “To be clear, we won’t transform our economy easily or in a few months — it will take some sacrifices and some time.” Source: AP 

After eight consecutive price hikes, the Bangladesh Jewellers Association (BAJUS) has slashed gold prices by over Tk 8,000 per bhori, marking the steepest single-day drop of the year. According to a BAJUS press release issued Wednesday night, the price of 22-carat gold has been reduced by Tk 8,386 per bhori (11.664 grams), bringing it down to Tk 2,08,996, the sharpest decline recorded in 2025. The new rates will come into effect from Thursday. BAJUS said the latest adjustment was made considering a fall in the price of pure gold (tejabi gold) in the local market. Under the new rates, the price of 21-carat gold has been set at Tk 1,99,501 per bhori, 18-carat gold at Tk 1,70,994 per bhori, and traditional gold at Tk 1,42,219 per bhori. The association also said the government-fixed 5% VAT and BAJUS-determined minimum making charge of 6% must be added to the selling price. However, making charges may vary depending on the design and craftsmanship of jewellery. BAJUS last revised the gold price on October 19, when it raised the price by Tk 1,050 per bhori, setting a record high of Tk 2,17,382 per bhori for 22-carat gold. With the latest revision, BAJUS has adjusted gold prices a total of 67 times this year, increasing them 48 times and reducing them 19 times.

Chief Adviser’s Special Assistant Anisuzzaman Chowdhury on Wednesday stressed the need for ensuring operational autonomy of the Bangladesh Securities and Exchange Commission (BSEC) to strengthen its role as the capital market regulator as enjoyed by the central bank. “If Bangladesh Bank can enjoy autonomy, then BSEC should too,” he said while addressing the BSEC’s monthly coordination meeting with capital market stakeholders. Anisuzzaman said all stakeholders must work collectively and move beyond traditional mindsets to build a stronger and more resilient capital market. “We must act in the collective interest of all stakeholders in the market. Upholding integrity and democratic practices is essential. Every decision should be guided by market realities and proper coordination.” He also directed that the registration of Central Counterparty Bangladesh Limited (CCBL) be completed and the entity made operational within December this year. BSEC Chairman Khondoker Rashed Maqsood informed the meeting that three major regulatory frameworks — The Margin Rules 2025, The Mutual Fund Rules 2025, and The Public Offer of Equity Securities Rules 2025 — are at the final stage of completion. “These rules will be gazetted soon. There’s no reason for concern, as we have revised the new margin rules after an in-depth review and in consultation with all stakeholders,” he said, assuring participants that a transition period of six months to one year will be allowed for necessary adjustments once the new rules come into effect. During the meeting, participants discussed the progress of ongoing reform initiatives and emphasised modernising surveillance mechanisms, upgrading market infrastructure, shortening the settlement cycle, introducing transaction facilities on record dates, implementing scrip netting and expediting the launch of the commodity exchange and futures market. They also called for strengthening BSEC’s institutional independence, enhancing API connectivity among market entities, ensuring robust cybersecurity, and bringing state-owned enterprises, large local companies, and multinational firms to the stock market through accelerated IPO reforms. Other key recommendations included encouraging new company listings through joint initiatives by DSE and ICB, improving corporate governance, resolving negative equity issues, and finalising CCBL’s phased operational plan.