United News of Bangladesh

Speakers emphasised the need for accelerating institutional reforms and private investment in the economic corridor to unlock the growth potential of the country. They stressed the urgency of advancing economic corridor development and logistics modernization to transform Bangladesh’s growth trajectory and ensure inclusive, regionally balanced development. The speakers came up with the observations at a seminar on Economic Corridor and Logistics Development in Bangladesh: Investment Opportunities organized jointly by International Chamber of Commerce (ICC) - Bangladesh, The world business organization and Asian development Bank (ADB) at a city hotel. Chief Guest Planning Adviser Wahiduddin Mahmud said neighbouring countries, specially North-Eastern states of India could be benefitted from the economic corridor in Bangladesh that connects ports, economic zones through rail, road, and water routes. He said the interim government can’t take up new development projects as all of the development allocations of the interim government are going to be allocated to the development projects taken by the previous government. Speaking as chair, President of ICC Bangladesh Mahbubur Rahman said the case for economic corridor development is no longer inspirational.  "It is urgent, evidence-based, and actionable," he said. SANEM urges institutional reforms to revitalize Bangladesh's economy He stated that, if implemented effectively, the corridor could increase the region’s combined output from $32 billion in 2020 to $286 billion by 2050 under a business-induced scenario (BIS), and generate up to 71.8 million jobs over the same period. Rahman emphasized that regulatory reforms, digitized customs processes, and strategic partnerships with regional and multilateral institutions — particularly the ADB — are positioning Bangladesh as a key player in South Asia’s evolving trade landscape. "ICC Bangladesh stands ready to support this agenda," he said, noting the institution's role in bridging the private sector with the global policy community. Special Assistant, Ministry of Finance Dr. Anisuzzaman Chowdhury said the country should prioritize two to three products including pharmaceuticals and electronics to diversify export basket immediately.  Country Director of Bangladesh Resident Mission Hoe Yun Jeong said Bangladesh’s logistics sector faces significant structural challenges including over reliance on road transport, congestion, high cost and insufficient multi-modal infrastructure which hinder export-oriented manufacturing. “This is where logistics sector development is crucial apart from corridor development,” he said. A key presentation was delivered by Barun Kumar Dey, Senior Economics Officer, ADB, who provided an overview of Bangladesh’s economic growth journey and the strategic vision for future development. Salehuddin stresses good governance in public investment Mohammad Nazrul Islam, Senior Transport Specialist, ADB, and Sabyasachi Mitra, Senior Logistics and Economic Corridor Expert (Former Director, SARD, ADB), jointly presented detailed insights into the proposed economic corridors, logistics hubs, and the critical role of private sector investments in their implementation. A dynamic panel discussion followed, featuring prominent business leaders and policy experts, including Md. Mahbub Ur Rahman, CEO, HSBC Bangladesh; Syed Mahbubur Rahman, Managing Director & CEO, Mutual Trust Bank PLC; Syed Ershad Ahmed, President, AmCham & MD, Expeditors (Bangladesh) Ltd; Mir Nasir Hossain, Executive Board Member, ICC Bangladesh & MD, Mir Akhter Hossain Ltd; Gokarna Raj Awasthi, DG, FNCCI (Nepal), and Prof. Dr. Selim Raihan, Executive Director, SANEM.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) continued its series of candidate introduction sessions for the upcoming 2025–2027 election under the election board for the third consecutive day on Monday. The programme took place at the auditorium of the BGMEA Complex in Uttara. During the session, Abul Kalam, Managing Director of Chaity Group and Panel Leader of the Sammilito Parishad, presented his panel's election manifesto to voters from the Dhaka region. Candidates representing ballot numbers 36 to 70 from the parishad were introduced to the voters in attendance. Chaired by Mohammad Iqbal, Chairman of the BGMEA Election Board and former Chairman of the Bangladesh Chemical Industries Corporation (BCIC), former BGMEA Presidents Kazi Moniruzzaman, Kutubuddin Ahmed, and S.M. Fazlul Hoque, BKMEA President Mohammad Hatem and board members, were present at the event. Candidate introduction meeting for BGMEA elections 2025-2027 begins Chief Election Coordinator and former BGMEA President Faruque Hassan also attended the session alongside other leaders of the Sammilito Parishad. Addressing the event, Mohammad Iqbal thanked the candidates and urged everyone to work together to ensure a fair and transparent election process.

Bangladesh's e-commerce sector has seen major transformation in recent years, with Daraz playing a central role in this shift, says its Chief Corporate Affairs Officer (CCAO) AHM Hasinul Quddus Rusho. “From improving digital literacy to reaching rural consumers, the platform has played a significant role in shaping the current market,” he told UNB. Founded nine years ago, Daraz has grown to serve 8 million monthly active users, Mr Rusho said, the company has focused on providing a trusted and simplified online shopping experience through offerings like Daraz Mall, which ensures product authenticity and consistent service. As the sector continues to evolve, he said, Daraz expects e-commerce to become a part of daily life for most Bangladeshis—not just in urban areas, but across all regions. The company’s logistics network now spans all over 64 districts, with tailored delivery solutions for rural zones and partnerships with external logistics providers to maintain fast delivery nationwide. With major events like the 6.6 Big Eid Sale, Daraz aims to create a blend of high-value offers and accessible services. This year’s campaign includes discounts of up to 80 percent and giveaways such as an Eid cow under the “Jitsen Bhai” contest. Despite the promotional focus, the platform maintains its regular delivery schedules, low delivery charges, and standard return and refund processes during peak demand periods. Daraz also invests in customer support through multiple channels, including 24/7 virtual assistants, live chat, and phone-based services. This infrastructure helps the company quickly address issues and ensure service reliability across urban and rural markets. Rusho said Daraz’s user base and seller network outside Dhaka continue to grow. The company sees this as a sign of successful decentralisation and is committed to making e-commerce more inclusive. Part of this effort involves seller training and internal control measures to prevent fraud, alongside initiatives like Daraz University, which provides digital skills training. Looking ahead, Daraz aims to build a full digital commerce ecosystem in Bangladesh, supporting both consumers and sellers in adapting to an increasingly digital economy.

Samsung has recently joined hands with Rangs eMart in Gulshan 2 in the capital to double the joy of Eid by buying refrigerators of their choice. The carnival, which started on May 24, will continue until Eid. This was announced at a press conference held at Rangs eMart today. The most attractive aspect of the fair is that by purchasing a specific refrigerator from any outlet of Rangs eMart, buyers will get a golden opportunity to win refrigerators, ACs and other attractive gifts in the Buy and Win campaign. There are also great discounts, bank offers, easy exchange offers and much more. Speaking at the event, Shahriar Bin Lutfar, Director and Head of Business, Samsung Electronics Bangladesh said, “Samsung is always committed to bringing the best technology to its customers across the country. In addition, its energy-saving technology will ensure a more efficient and eco-friendly experience. In the joy of Eid, we want to make cutting-edge refrigerator technology more accessible, so that our customers can enjoy a comfortable and healthy lifestyle with their families.” Yeamin Sharif Chowdhury, Divisional Director of Rangs eMart, said, “Rangs eMart always works with brands that are committed to modern technology and improving people’s lifestyles. Through this fair, we want to make the shopping experience more enjoyable for customers.” Chief Manager Product Planning Samsung Electronics Bangladesh Anika Rahman ,  Head of Business of Rangs eMart  Rashedul Islam, Head of Sales Golam Azam Khan and COO Mr. Iraj H. Siddiqui and other officials were present. 

Indices at both the Dhaka and Chattogram stock exchanges extended their losing streak for the third consecutive session on Tuesday, with most listed companies witnessing a decline in share prices. At the Dhaka Stock Exchange (DSE), the benchmark index DSEX shed 16 points. While the Shariah-based DSES index remained flat, the DS30 index, which tracks blue-chip companies, lost 4 points. Of the 393 issues traded, prices declined for the majority. A total of 168 issues ended lower, while 148 advanced and 77 remained unchanged. All three categories – A, B, and Z – saw more losers than gainers. Among 213 A-category stocks, known for offering regular dividends, 100 lost value, 77 gained, and 36 remained unchanged. Among the 36 mutual funds traded, most saw no change in unit prices. Twelve funds gained in value, while six declined and 18 stayed flat.  Capital Market: Trading ends week with downtrend The block market at the DSE saw transactions worth Tk 12 crore from 28 companies. Midland Bank accounted for the highest block transaction, offloading shares worth Tk 2 crore. The total turnover at the DSE stood at Tk 282 crore, up from Tk 235 crore in the previous session. BBS Cables emerged as the day’s top gainer with a 10% rise in its share price, while One Bank topped the losers’ list, falling over 7%. Indices Down in Chattogram as Well The downward trend mirrored at the Chattogram Stock Exchange (CSE), where the key index dropped 52 points. Out of the 174 companies traded at the CSE, 83 saw a fall in share prices, 73 advanced and 18 remained unchanged. Stocks: Dhaka sees gains in early trade, Chattogram dips The turnover at the CSE rose to Tk 11.73 crore, compared to Tk 8.68 crore in the previous session. Among the top movers, Beacon Pharma gained 10%, while Brac Bank lost over 10%, ending the day at the bottom of the performance chart.  

President Donald Trump said Sunday that the U.S. will delay implementation of a 50% tariff on goods from the European Union from June 1 until July 9 to buy time for negotiations with the bloc. That agreement came after a call Sunday with Ursula von der Leyen, the president of the European Commission, who had told Trump that she “wants to get down to serious negotiations,” according to the U.S. president’s retelling. “I told anybody that would listen, they have to do that,” Trump told reporters on Sunday in Morristown, New Jersey, as he prepared to return to Washington. Von der Leyen, Trump said, vowed to “rapidly get together and see if we can work something out.” In a social media post Friday, Trump had threatened to impose the 50% tariff on EU goods, complaining that the 27-member bloc had been “very difficult to deal with” on trade and that negotiations were “going nowhere.” Those tariffs would have kicked in starting June 1. But the call with von der Leyen appeared to smooth over tensions, at least for now. Boeing reaches $1.1bn deal with US Justice Dept to avoid prosecution over 737 Max crashes “I agreed to the extension — July 9, 2025 — It was my privilege to do so,” Trump said on Truth Social shortly after he spoke with reporters on Sunday evening. For her part, von der Leyen said the EU and the U.S. “share the world’s most consequential and close trade relationship.” “Europe is ready to advance talks swiftly and decisively,” she said. “To reach a good deal, we would need the time until July 9.”

The Justice Department has reached a deal with Boeing that will allow the airplane giant to avoid criminal prosecution for allegedly misleading U.S. regulators about the 737 Max jetliner before two of the planes crashed and killed 346 people, according to court papers filed Friday. Under the “agreement in principle,” which still needs to be finalized, Boeing would pay or invest more than $1.1 billion, including an additional $445 million for the crash victims’ families, the Justice Department said. In return, the department has agreed to dismiss the fraud charge against Boeing, allowing the manufacturer to avoid a possible criminal conviction that could have jeopardized the company’s status as a federal contractor, according to experts. “Ultimately, in applying the facts, the law, and Department policy, we are confident that this resolution is the most just outcome with practical benefits,” a Justice Department spokesperson said in a statement. “Nothing will diminish the victims’ losses, but this resolution holds Boeing financially accountable, provides finality and compensation for the families and makes an impact for the safety of future air travelers.” Boeing on Friday declined to comment. Some relatives of the passengers who died in the crashes, which took place off the coast of Indonesia and in Ethiopia less than five months apart in 2018 and 2019, have been pushing for a public trial, the prosecution of former company officials, and more severe financial punishment for Boeing. The Justice Department noted that the victims’ families had mixed views on the proposed deal. “This kind of non-prosecution deal is unprecedented and obviously wrong for the deadliest corporate crime in U.S. history,” said Paul Cassell, an attorney for many of the families in the long-running case. “My families will object and hope to convince the court to reject it.” Javier de Luis, whose sister, Graziella, died in the Ethiopia crash, said the Justice Department is walking away “from any pretense to seek justice for the victims of the 737Max crashes.” “The message sent by this action to companies around the country is, don’t worry about making your products safe for your customers,” he said in a statement. “Even if you kill them, just pay a small fine and move on.” Boeing was accused of misleading the Federal Aviation Administration about aspects of the Max before the agency certified the plane for flight. Boeing did not tell airlines and pilots about a new software system, called MCAS, that could turn the plane’s nose down without input from pilots if a sensor detected that the plane might go into an aerodynamic stall. The Max planes crashed after a faulty reading from the sensor pushed the nose down and pilots were unable to regain control. After the second crash, Max jets were grounded worldwide until the company redesigned MCAS to make it less powerful and to use signals from two sensors, not just one. The Justice Department charged Boeing in 2021 with deceiving FAA regulators about the software, which did not exist in older 737s, and about how much training pilots would need to fly the plane safely. The department agreed not to prosecute Boeing at the time, however, if the company paid a $2.5 billion settlement, including the $243.6 million fine, and took steps to comply with anti-fraud laws for three years. Federal prosecutors, however, last year said Boeing violated the terms of the 2021 agreement by failing to make promised changes to detect and prevent violations of federal anti-fraud laws. Boeing agreed last July to plead guilty to the felony fraud charge instead of enduring a potentially lengthy public trial. But in December, U.S. District Judge Reed O’Connor in Fort Worth rejected the plea deal. The judge said the diversity, inclusion and equity, or DEI, policies in the government and at Boeing could result in race being a factor in picking a monitor to oversee Boeing’s compliance with the agreement. The plea deal had called for an independent monitor to be named to oversee Boeing’s safety and quality procedures for three years. Under the agreement announced Friday, Boeing must retain an “independent compliance consultant” who will make recommendations for “further improvement” and report back to the government, according to court papers.

Speakers on Sunday highlighted the importance of increasing youth involvement, strengthening public-private collaborations, and aligning policies and investments to accelerate growth in agricultural exports. They said that Bangladesh's market for vegetables, fruits, and flowers is growing steadily. In the first nine months of FY2024–25 (July–March), the country earned $55.6 million from vegetable exports and $39.1 million from fruit and flower exports. Despite this momentum, Bangladesh remains far behind regional peers such as China, Thailand, and Vietnam in agri-exports—primarily due to structural inefficiencies and weak management systems in production. To unlock the sector's full potential, speakers at the Bangladesh Agro Conclave 2025 emphasized the need for increased youth engagement, stronger public-private partnerships, and coordinated policy and investment initiatives. New policy on temporary daily workers ‘misleading and exploitative’: Agri Farm Workers’ Federation The event, titled “Bangladesh Agro Conclave 2025: Unlocking Bangladesh’s Agri-Potential for Global Competitiveness and Sustainable Growth,” was held at Hotel in Dhaka on Sunday, jointly organised by international consultancy Lightcastle Partners and the Sustainable Agriculture Foundation (SAF), a global development organisation. Keynote presenter Shubham Roy, revealed that around 20–40% of vegetables produced in Bangladesh are wasted annually, resulting in an estimated $2.4 billion in financial losses. For fruits and vegetables, 20–35% are lost before export due to inefficiencies in the supply chain. Chief guest Dr. Mohammad Emdad Ullah Mian, Secretary of the Ministry of Agriculture, highlighted the government’s commitment to inclusive and technology-driven agriculture. He said that the government is finalizing the ‘Agriculture Future Outlook Plan 2025’, aimed at scaling modern technology to the grassroots. A key initiative under this plan is the ‘Khamari App’, designed to provide farmers with real-time crop management tools and market information. Mango shipments to China to begin this month: Agri Secy Dr. M. A. Sattar Mandal, Emeritus Professor and former Vice Chancellor of Bangladesh Agricultural University, stressed the dual challenge of increasing food production for an additional 15 million people, while overcoming the constraints posed by fragmented agricultural land. He emphasized the need for innovation-led solutions to structural bottlenecks. The event featured three panel discussions: session 1 on charting the path towards global export market, moderated by Bijon Islam, CEO of LightCastle Partners; session 2 on empowering women and youth in agri-food enterprise development was moderated by Md. Abdur Rouf, Director, Program Development, SAF, and the final session on food safety, traceability, and cold chain management was, moderated by Zahedul Amin, Managing Director, Lightcastle Partners.

The 2025 Shandong International Friendship Cities Cooperation and Exchange Week is scheduled to take place from May 26 to 30 in Shandong Province, with the main venue in Jinan, the provincial capital. An opening ceremony is set for May 27, according to China Daily. A total of 900 representatives, including 154 delegations from friendship cities, local governments, enterprises, and business communities across 47 countries, have registered to participate, with around 600 coming from abroad. International friendship cities play a vital role as channels for sub-national exchanges and serve as important platforms for cultural and tourism cooperation. Jiang Qingpeng, deputy director of the Department of Culture and Tourism of Shandong Province, highlighted at a recent press conference that these city partnerships have become key drivers of international cultural communication and inbound tourism growth in the region. In the first quarter of this year, visitors from countries hosting Shandong's friendship cities accounted for 77.3% of all inbound tourists, reflecting a 91.1% year-on-year increase, Jiang noted. Looking ahead, Shandong plans to organize more exchange activities centered around major events such as the Shanghai Cooperation Organization’s tourism and cultural capital, Kazakhstan Tourism Year in China, and China-Russia Year of Culture. These initiatives aim to strengthen inbound tourism, deepen cultural exchanges, and expand Shandong’s international network in culture and tourism sectors.

Trading at both the Dhaka and Chattogram stock exchanges began at a sluggish pace on the second working day of the week on Sunday, with the Dhaka market showing a rise in its index while the Chattogram market remained largely unchanged. At the Dhaka Stock Exchange (DSE), the benchmark index DSEX rose by 13 points in the opening hour. Among the other two indices, the Shariah-compliant DSES gained 3 points, and the blue-chip DS30 index increased by 1 point. A majority of the listed companies saw their share prices rise. Of the traded issues, prices advanced for 177 companies, declined for 114, while 78 remained unchanged. The total turnover at the DSE crossed Tk 75 crore in the first hour. Market swings amid volatile trading at DSE and CSE At the Chittagong Stock Exchange (CSE), the overall index showed a marginal gain within the decimal range. Out of the 62 companies that traded on the CSE, share prices increased for 28, declined for 26, and remained unchanged for 8. The turnover at the CSE exceeded Tk 1 crore during the first hour of trading.