United News of Bangladesh

Bangladesh Jewelers Association (Bajus) has reduced the price of gold by Tk 3137 per bhori from Tuesday. According to the new price, the price of a bhori of the good quality 22-carat gold will be Tk 167,623, which was sold at Tk1,70,761 per bhori on Monday.  18th Bangladesh Denim Expo kicks off The Bajus notification stated that the price of pure gold (acid gold) has decreased in the local market. As a result, the new price of gold has been determined considering the overall situation. According to the new prices, the price of the best quality or 22-carat gold per bhori (11.664 grams) has been fixed at Tk 1,67,623, 21-carat gold per bhori at Tk1,59,995, 18-carat gold per bhori at Tk1,37,145 and the price of traditional gold per bhori at Tk1,13,339. Bangladesh Bank increases limit for overseas medical treatment expenses The previous price was for the best quality or 22-carat gold per bhori at Tk 170,761, 21-carat gold per bhori at Tk1,63004, 18-carat gold per bhori at Tk1 39711 and the price of traditional gold per bhori at Tk115532. Although the price of gold has increased, the price of silver has remained unchanged. 

Community Bank Bangladesh PLC on Monday launched ‘Dedicated Service Desk’ for police simultaneously in all its branches and sub-branches across the country. The ‘Dedicated Service Desk’ will ensure specialised and priority banking services for police members. Community Bank launched officially in a ceremony held at the Dhanmondi branch in the capital on Monday. Additional DIG of Bangladesh Police and Director of Community Bank, Ahmad Mueed, opened the service as the chief guest. He said that this initiative is a reflection of the sincere respect and sense of responsibility of Community Bank towards the Bangladesh Police. From now on, police members in any branch of the country will know that there is a desk and an officer designated for them, who will provide fast and priority services. Kimiwa Saddat, MD (current Charge) of Community Bank was present at the event as the special guest. He said, “Bangladesh Police are the foundation of this bank; it is our moral responsibility to provide them with respectable, fast, and convenient banking services.” From today, every branch and sub-branch will have a dedicated desk where police members will receive special services. If it is not possible to provide any service immediately, it will be recorded on the central server and followed up regularly until it is resolved, he said. The scope of the dedicated service desk includes: • Full support regarding accounts, loans, deposits and cards. • Priority in cash transactions and service by a designated officer. • Quick resolution of incomplete services or complaints by recording them in the central database. • Informing about the progress of the service through direct phone calls • Providing information and advice on all banking products and services applicable to the police.

The two-day 18th Bangladesh Denim Expo began on Monday at the International Convention City Bashundhara (ICCB) in Dhaka. A total of 57 exhibitors from 13 countries, including Bangladesh, India, Pakistan, China, Turkey, Spain, Italy, Vietnam, UAE, Germany, Switzerland and USA, have been participating in the expo. Addressing the event, Mostafiz Uddin, founder & CEO of Bangladesh Denim Expo, said, “Bangladesh has emerged as the fastest-growing apparel exporter to the United States in the first quarter of 2025, posting the highest year-on-year growth of 26.64%. This performance placed Bangladesh ahead of other major exporters such as India with a 24.04% rise, while Pakistan, Vietnam, and China with the rise of 17.49%, 13.96%, and 4.18% respectively at a time when US market is volatile because of imposing worldwide reciprocal tariff by the Trump’s Administration recently. I think even on the negotiation table of the trade issues our card should be the industry’s steady progress towards skill development, sustainability and innovation. As we need our trade partners as much as their consumers need us.’’ Bangladesh is the largest denim exporter both to the USA and Europe and enjoying duty-free market access to the EU under the Everything But Arms (EBA) and Generalized Scheme of Preferences (GSP) as an least developed country (LDC) but the status to be changed to a developing nation next year, he said. Medical equipment, health tourism, food and agro expositions kick off in Dhaka If Bangladesh fails to attain GSP Plus, the country will not be able to export products with duty free facility to the EU from 2029, the region accounts for 50.15% of Bangladesh’s total apparel export, he continued. “In the last edition of Bangladesh Denim Expo, we had expert panel sessions on the LDC graduation where all the speakers unanimously stressed on the capacity building of the industry to cope up with the changing tariff regimes. So, in this edition of the expo, all the panel sessions we designed are solely meant for capacity building of both the professionals and the industry. You may also say that from this edition we shifted from plans to actions to prepare Bangladesh’s denim industry for 2029 and beyond,’’ added Mostafiz Uddin. There are two panel sessions scheduled for the two-day event on the topics “The growth of the Bangladesh denim industry, through the perspective of denim washing” and “Stretch-ability of Bangladesh denim traceability”. Abdus Samad, Director of Well of Washing, Arief Labu, Co-founder & Creative Director of Ruhrose RBT Ltd. Julie Davies, GM - Processing Innovation, and Education Extension, The Woolmark Company, Kamal Uddin Mia, Chief Operation Officer (Washing), Bitopi Group, Marco Volpi, Head of Sales for the Europe and Africa region, Bluesign Technologies AG, Md. Forhad Hossain, Owner, Pure Chemicals, Raquib Imtiaz, Business manager, LC WAIKIKI, Reza e Rabbi, Head of Operation, Vertex Wear Limited, Shohel Rana, CEO, Designer Fashion LTD and Designer Wash LTD, are sharing their expert insights in the panel sessions. Businesspeople think the country will continue to be an indispensable global sourcing destination even during the times of tariff and trade wars. Capacity building and innovation will be the building stone for the industry to sail through the uncertain times. 2-day Meet Bangladesh Exposition ends with strong buyer interest There will also be one special presentation on ‘The denim business beside sewing and wash production’ by Mohammad Jahangir Alam, Head of Operation, Square Denims Ltd, Garment Unit. At the expo, a fashion trend-zone was set up to showcase cutting-edge denim innovations and unique fabrics from Bangladesh.

Bangladesh Bank has raised the limit of funds to be sent abroad for medical treatment expenses from US$ $10,000 to $15,000. The foreign exchange policy department of the central,bank on Monday, through a circular confirmed this. The new directive allows individuals to send up to $15,000 for this purpose without prior approval from the central bank. Previously, banks were authorised to remit a maximum of $10,000 for medical expenses without special permission. This limit has now been raised by an additional $5,000. According to the Bangladesh Bank's notification, up to $15,000 in foreign currency can be released in the name of the hospital or through international cards. Within this limit, customers can also withdraw up to $5,000 in cash. Bangladesh Bank to release newly designed banknotes ahead of Eid Sources indicated that due to visa complexities with India, many individuals seeking advanced medical treatment are now opting for alternative destinations such as Thailand, China, Singapore, the United Kingdom, and the United States. The cost of travel and treatment expenditures in these countries tends to be higher, considering that the central bank has relaxed dollar spending. The central bank clarified that for medical expenses exceeding $15,000, the remitting bank will need to seek special authorisation from the Bangladesh Bank. Bangladesh Bank stated that simplifying the process for legitimate medical expense transfers aims to discourage individuals from resorting to illegal channels like hundi, which can negatively impact inward remittances. This move follows a decision earlier this month by the Bangladesh Bank to ease regulations for sending funds abroad for various purposes, including education. Bangladesh Bank urges best practices in LC payments Banks can now utilise international card platforms to facilitate payments for membership fees, IT-related expenses, overseas education costs, visa fees, foreign training registration fees, and medical expenses.

Naogaon district administration has set May 22 to deliver mangoes to the market for the buyers, commencing with local variety of mango ‘Guti’. The decision was taken from a meeting chaired by Deputy Commissioner Mohammad Abdul Awal on Monday, with mango growers, traders, agriculture officers, and administrative officials from all 11 upazilas of the district, attending. According to the meeting, only the early-ripening local varieties will be harvested on May 22 while the popular premium varieties such as Gopalbhog will follow on May 28, Khirsapat and Himsagar on June 2 and the Geographical Indication (GI)-recognised ‘Nak Fazli’ on June 5. The district's most widely cultivated variety ‘Rupali,’ will be available from June 18. Other varieties of mangoes will be available according to the schedule below: Gopalbhog on May 28, Khirsapat, Himsagar on June 2, Nak Fazli on June 5, Langra, Haribhanga on June 10, Rupali on June 18, Fazli, Banana Mango on June 25, Ashwina, BARI-4, Gourmoti, and Katimon on July 10. No timeframe set for mango harvesting in C’nawabganj this year

The Dhaka Stock Exchange (DSE) on Monday announced that the stock market will remain open for normal trading on two upcoming Saturdays—17 May and 24 May—prior to the Eid-ul-Azha holidays. Despite Saturdays being regular weekly holidays, this move comes in light of the extended break for Eid. According to the DSE, the stock market will observe a 10-day closure from 5 June to 14 June, aligning with the government-declared public holidays and the usual weekend closures. The government has declared 11 and 12 June as official holidays, while 13 and 14 June fall on Friday and Saturday, respectively, which are already non-working days. In a related development, the Department of Off-site Supervision (DOS) of Bangladesh Bank has directed that all scheduled banks across the country will also remain open on the same two Saturdays—17 May and 24 May—as the stock market. DSE announces new trading hours for Ramadan While banks and the stock market will remain closed on 11 and 12 June in accordance with the government declaration, Bangladesh Bank has clarified that bank branches, sub-branches, and booths located in port and customs areas, including sea, land and airports, will remain operational 24/7 throughout the week, except on Eid day itself. This ensures uninterrupted banking services in vital economic zones during the holiday period. The extended holiday and adjusted working days are aimed at facilitating both investors and financial institutions while accommodating the religious and cultural significance of Eid-ul-Azha. DSE opens lower, CSE sees early gains

Although the week began with a downturn, trading on the country’s stock markets ended on a positive note on Sunday, with indices rising and share prices increasing for the majority of listed companies in both Dhaka and Chattogram. At the Dhaka Stock Exchange (DSE), the benchmark DSEX index increased by 19 points, while the main index posted gains, the other two indices in Dhaka did not perform as strongly. The Shariah-based DSES index rose by just 1 point and the DS30 index, which tracks blue-chip companies, fell by 4 points. Out of the 395 companies that participated in trading at the DSE, the share prices of 189 companies increased, while 160 declined and 46 remained unchanged. Across all three categories — A, B and Z — share prices were mostly on the rise. Among the 216 companies listed under the A category, which includes firms with consistent dividend payouts, 122 posted gains. Stock market sheds Tk 17,000cr in April as DSEX down by 302 points The share prices of 80 A-category firms declined, and 14 remained unchanged. Mutual funds also saw a positive trend, with 30 out of 36 funds gaining in value. Only 3 saw price declines, while the remaining 3 stayed the same. In the DSE block market, 21 companies traded shares worth Tk 6.83 crore. Beacon Pharmaceuticals accounted for the highest transaction, selling shares worth Tk 2.24 crore. Despite the favourable movement in indices and share prices, overall turnover at the DSE remained stagnant. Total transactions stood at Tk 364 crore, slightly lower than the previous session’s Tk 366 crore. Northern Islami Insurance emerged as the top gainer on the DSE with a 10% rise in share price. On the other hand, Bay Leasing and Investment Ltd saw the biggest drop, losing over 3.5%. Chattogram Market Also Sees Gains Like Dhaka, the Chattogram Stock Exchange (CSE) also ended the day with an upward trend. The CSE’s overall index rose by 19 points during the day’s trading. Out of 182 companies that traded on the CSE, 91 advanced, 71 declined, and 20 remained unchanged. DSE, 2 other South Asian stock markets unite to drive regional growth Total turnover at the CSE amounted to Tk 7.29 crore — a sharp decline from the previous session’s figure of over Tk 21 crore. Phoenix Insurance Company Ltd topped the gainers’ list at the CSE with a price surge of 9.87%. Meanwhile, Green Delta Insurance PLC ended at the bottom, shedding 10% in value.

Bangladesh’s stock markets began the first trading day of the week with a decline, as all major indices in both Dhaka and Chattogram opened lower on Monday. At the Dhaka Stock Exchange (DSE), the benchmark index DSEX dropped by 2 points. The Shariah-based DSES index fell by 1 point, while the blue-chip index DS30 declined by 7 points. During the first half of the session in Dhaka, share prices of 169 companies increased, 166 declined and 55 remained unchanged. Overall, trading volume on the DSE surpassed Tk 170 crore in the first two hours, reflecting moderate investor activity. Share markets rebound sharply in both Dhaka, Chattogram Similarly, the Chittagong Stock Exchange (CSE) also witnessed a downward trend, with the overall index falling by 6 points. Out of 98 companies that participated in trading on the CSE, prices rose for 47, fell for 33, and remained unchanged for 18. In the first half of trading, the CSE recorded share and unit transactions worth over Tk 4 crore.  

The lead U.S. negotiator in the trade discussions with China praised the progress made over two days of meetings in Switzerland, noting "a great deal of productivity" in addressing ongoing disputes between the world's two largest economies. The talks followed a recent escalation in tensions after President Donald Trump imposed heavy tariffs on Chinese goods, prompting retaliatory measures from Beijing. U.S. Treasury Secretary Scott Bessent described the weekend negotiations as making “substantial progress,” though he provided few specifics about the discussions. He indicated that more details would be shared during a scheduled press briefing on Monday. U.S. Trade Representative Jamieson Greer also hinted at a breakthrough, suggesting that an agreement had been reached, but he, too, declined to elaborate. Both Bessent and Greer briefly spoke to reporters outside the Swiss ambassador’s official residence in Geneva, where the meetings took place, but did not answer questions. Greer emphasized the swift resolution of some key issues, implying that the gap between the two sides may not have been as wide as previously assumed. He underscored the Trump administration’s priority of narrowing the U.S. trade deficit with China, which hit a record $263 billion last year. “We believe the agreement we’ve reached with our Chinese counterparts will help address that serious national concern,” Greer said. Following the talks, the White House released a statement titled “U.S. Announces China Trade Deal in Geneva,” which reiterated quotes from Bessent and Greer but offered no additional insight into the deal’s content. China’s delegation later held its own press conference, characterizing the discussions as “candid, in-depth and constructive.” Chinese Vice Premier He Lifeng said both parties agreed to create a consultation mechanism to support continued dialogue on trade and economic issues. Additionally, Chinese officials confirmed that both sides would issue a joint statement on Monday, although the exact timing remained uncertain. Bank ordinance gazette published keeping provision to take over any bank “No matter when the statement is released, I believe it will be welcomed as good news for the international community,” said Li Chenggang, China’s ambassador to the World Trade Organization. Trump was anxious to declare the sessions a win. Even before the final day of talks opened on Sunday, the president posed on his social media site that “GREAT PROGRESS” was being made toward what he suggested could be a “total reset” on the tariffs that have put the global economy on edge. Beijing, however, appeared largely more measured about the negotiations’ overall direction, noting in a Saturday night editorial published before the second day of negotiations kicked off, that it would “firmly reject any proposal that compromises core principles or undermines the broader cause of global equity.” During the Sunday evening news conference, He said “global trade wars that were provoked or initiated by the U.S. have captured global attention“ but “China’s position towards this trade war has been clear and consistent, and that is: China doesn’t want to fight a trade war, because trade wars produce no winners.” “But if the U.S. insists on forcing this war upon us, China will not be afraid of it and will fight to the end,” the vice premier said, before adding: “We are ready to work together.” Negotiations could go a long way toward stabilizing world markets roiled by the U.S.-China standoff that has ships in port with goods from China unwilling to unload until they get final word on tariffs. Trump last month raised U.S. tariffs on China to a combined 145%, and China retaliated by hitting American imports with a 125% levy. Tariffs that high essentially amount to the countries’ boycotting each other’s products, disrupting trade that last year topped $660 billion. Still, top members of the Trump administration were following the president’s lead in insisting that a hard reset of U.S.-China trade relations could be in the offing. “Secretary Bessent has made clear that one of his objectives is to de-escalate,” U.S. Commerce Secretary Howard Lutnick, who wasn’t in Geneva, said on “Fox News Sunday.” He added that the U.S. and China have both imposed tariffs that are “too high to do business, but that’s why they are talking right now.” “We are the consumer of the world. Everybody wants to sell their goods here,” Lutnick said. So they need to do business with America and we’re using the power of our economy to open their economy to our exporters.” Kevin Hassett, director of the White House National Economic Council, told Fox News Channel’s “Sunday Morning Futures” that “what’s going to happen in all likelihood is that relationships are going to be rebooted. It looks like the Chinese are very, very eager to play ball and to renormalize things.” “We’re essentially starting over, starting from scratch with the Chinese,” Hassett said “and they seem to think that they really want to rebuild a relationship that’s great for both of us.” The talks mark the first time the sides have met face-to-face to discuss the issues. The prospects for a major breakthrough still appear slight, but even a small drop in tariffs — particularly if taken simultaneously — could help restore some confidence.    

To resolve the ongoing crisis in the banking sector, the government has made the ‘Bank Resolution Ordinance 2025’, which has been published as a gazette notification. The ordinance is empowering Bangladesh Bank, so stricter and more organised steps can be taken to maintain the stability of the banking sector, as stated in the introduction of the ordinance. Bangladesh Bank can take over any bank, including and financial institutions to bring stability to these institutions. Bangladesh Bank to release newly designed banknotes ahead of Eid To this end, the 67-page Bank Resolution Ordinance, 2025 was published in the form of a gazette on Friday (9 May), a holiday. Earlier, on 17 April, the advisery council approved the draft of the ordinance. The new provision states that the central bank can temporarily take over any scheduled bank or financial institution, including any Islamic banks, under government ownership. For this, Bangladesh Bank can issue an order to transfer one or more shares. However, the recipient of the shares must be a government-owned institution. According to the ordinance, if the owner of a bank misuses the bank's assets for personal gain or resorts to fraud, then Bangladesh Bank can take any action against that bank through a resolution. If necessary, there will be an opportunity to appoint a temporary administrator in the bank, reinvest capital, transfer assets and shares to a third party, and suspend operations partially or completely. Bridge Bank Concept and Liquidation Process: As part of the restructuring of a weak bank, an opportunity has been provided for establishing a "bridge bank", which can also be sold at a later date. If it is necessary to completely close the bank's operations, Bangladesh Bank can take the initiative for liquidation through the court. In this case, a time limit has also been set for the appointment of a liquidator and settlement of liabilities. Personal liability and fines: The liability of the persons involved in the failure of the bank has been determined, and it has been said that if the bank suffers losses as a result of the actions or decisions of any person, he will be personally liable. In addition, a provision has been made for imposing a fine of up to Tk50 lakh and an additional penalty of Tk5,000 for each day of violation of the ordinance. Inter-institutional Council for Crisis Management: A seven-member ‘Banking Sector Crisis Management Council’ will be formed to deal with the crisis in the banking sector, headed by the Governor of the Bangladesh Bank. The other members are the Finance Secretary, the Secretary of the Financial Institutions Division, the BSEC Chairman, the Legislative Secretary, and two Deputy Governors of the Bangladesh Bank. The council will meet every three months and prepare emergency crisis plans.