United News of Bangladesh

Stocks extended their losing streak for a second consecutive day on Tuesday, with the key index of the Dhaka Stock Exchange (DSE) falling by 46 points amid widespread sell-offs across sectors. After a brief stable opening, the market turned negative within the first hour and remained downbeat throughout the session.  At the end of the day, the DSEX dropped to 5,377 points from 5,423 in the previous session. The Shariah-based DSES index shed 10 points, while the blue-chip DS30 index fell by 23 points. Despite the overall decline, turnover at the DSE rose to Tk 787 crore, up from Tk 736 crore in the previous session. Of the 401 issues traded, prices increased for 85, declined for 282, and remained unchanged for 34. Prices fell across all categories — A, B and Z — with the A-category, which includes the market’s most fundamentally sound companies, seeing 138 losers against 67 gainers and 19 unchanged. In the block market, shares worth Tk 15 crore were traded across 34 companies, led by Envoy Textiles Ltd, which accounted for Tk 3.9 crore in transactions. First Security Islami Bank PLC topped the day’s gainers with a 10% rise, while Bangladesh Industrial Finance Company Ltd plunged over 8% to become the worst performer. The downtrend was mirrored at the Chittagong Stock Exchange (CSE), where the overall index dropped by 107 points. Out of the traded issues, 63 advanced, 136 declined, and 18 remained unchanged. The turnover at the CSE fell slightly to Tk 12.20 crore, compared to Tk 12.54 crore in the previous session. Pioneer Insurance Company Ltd gained 10% to top the gainers’ chart at the CSE, while Information Services Network Ltd lost over 9%, becoming the worst loser of the day.

The point-to-point inflation in Bangladesh edged up slightly to 8.36 percent in September, from 8.29 percent in August. According to data released by the Bangladesh Bureau of Statistics (BBS) on Monday, the rate was significantly higher at 9.92 percent during the same month last year. Inflation has now remained above 8 percent for more than three years since August 2022. The BBS data shows that both food and non-food inflation increased in September. Food inflation rose to 7.64 percent from 7.60 percent in August, while non-food inflation climbed to 8.98 percent from 8.90 percent. Inflation falls to 8.29% in August, lowest in over 3 years A year earlier, in September 2024, food inflation stood at 10.40 percent and non-food inflation at 9.50 percent. Rural areas experienced slightly higher inflationary pressure than urban areas last month. Rural inflation rose to 8.47 percent in September from 8.39 percent in August. In the same month last year, it was 10.15 percent. In rural regions, food inflation edged up to 7.54 percent from 7.50 percent, while non-food inflation increased to 9.40 percent from 9.28 percent. In urban areas, overall inflation inched up to 8.28 percent in September from 8.24 percent the previous month. Urban food inflation rose to 7.94 percent from 7.87 percent, while non-food inflation moved slightly higher to 8.51 percent from 8.49 percent. Meanwhile, the BBS data shows that the general wage growth rate slipped to 8.02 percent in September from 8.15 percent in August. In September last year, the rate was 8.01 percent — marking the 44th consecutive month that wage growth has trailed behind inflation.  

Gold prices in Bangladesh have reached an unprecedented high, crossing the Tk 2 lakh mark per bhori (11.664 grams) for the first time, driven by continuous price surges in September and early October. On Monday night, the Bangladesh Jewellers Association (BAJUS) announced an increase of Tk 3,150 per bhori for 22-carat gold, setting the new rate at Tk 2,726 per bhori, the highest in the country’s history. The revised prices will take effect from Tuesday. According to BAJUS, the hike reflects a rise in the value of pure gold in the local market. The association’s Standing Committee on Pricing and Price Monitoring recalculated the rates to align with market trends. The new prices include the mandatory 5 percent VAT imposed by the government, as well as a 6 percent minimum wage determined by BAJUS. However, actual prices may vary depending on jewellery design and quality. Under the updated rates, gold in Bangladesh is priced as follows: *22-carat: Tk 2,726 per bhori*21-carat: Tk 1,91,605 per bhori*18-carat: Tk 1,64,229 per bhori*Traditional (Sanatani): Tk 1,36,445 per bhori BAJUS had previously set a record on October 4, when 22-carat gold rose by Tk 2,192 to Tk 1,97,576 per bhori. This year alone, the association has revised gold prices 61 times, including 43 increases and 18 decreases. The surge in domestic prices mirrors global trends, with international gold rates also hitting record levels, surpassing $3,900 per ounce for the first time. As gold continues its upward trajectory, consumers and investors alike are keeping a close eye on market developments, making this historic milestone a topic of widespread attention across Bangladesh.

The Bangladesh Bank (BB) has purchased an additional US$104 million from commercial banks through an auction to maintain stability in the foreign exchange market, raising the country’s foreign exchange reserves to $26.62 billion. The central bank bought the dollars at a rate of Tk 121.80 from eight commercial banks on Monday, said BB spokesperson and executive director Arif Hossain Khan. With this latest purchase, the central bank’s total acquisition through auctions in the current fiscal year has reached $1.98 billion. Economists and bank officials have described the move as ‘essential’ for stabilising the volatile dollar market. While a sharp rise in the dollar rate pushes up import costs, a steep fall can hurt remittance inflows and export earnings, he said. Officials said that purchasing dollars through auctions gives a slight advantage to remitters and exporters, supporting foreign currency earnings. At the same time, they said, the move is helping the central bank gradually rebuild its reserves. Bangladesh Bank officials indicated that dollar purchases through auctions will continue until the market reaches a stable balance between demand and supply.

Islami Bank Shareholders' Forum today (Monday) held nationwide human chains and protest rallies, including in front of the Islami Bank Tower in Dilkusha, Bangla Motor, Mirpur, Uttara of Dhaka, demanding the immediate removal of officials allegedly appointed illegally by S Alam. Simultaneous demonstrations were also held in front of every Islami Bank branch across the country. Speakers at the rally alleged that S Alam "illegally seized" Islami Bank in 2017 using state force and intimidated legitimate owners and foreign shareholders into leaving. Following the alleged takeover, he reportedly appointed thousands of "inefficient people" from the Patiya and Chattogram regions without any public notification, which the speakers claimed has destroyed the bank's reputation and skilled workforce structure. Forum leaders claimed that between 2017 and August 2024, a total of 7,224 individuals were illegally appointed to the bank, with over 4,500 of them hailing solely from Patiya Upazila. They further alleged that this practice broke bank discipline by favouring candidates from one district while depriving qualified candidates from the country's other 63 districts. According to the Shareholders’ Forum leaders, these alleged illegal appointments are costing the bank more than Tk 1,500 crore annually. In a move to assess their competence, bank authorities recently arranged an evaluation test for these officers through the Dhaka University's Institute of Business Administration (IBA) on September 27. However, out of the 5,385 officials called, 4,971 refused to sit for the examination. The protesting groups stated that those who defied the bank’s decision have been placed on ‘On Special Duty’ (OSD), and approximately 400 "rebel" officers have been terminated from service. Addressing the rally in front of the head office, speakers including Md Mohtasim Billah, Hafizur Rahman, Imam Hossain, and Mahmudul Hasan said the removal of illegally appointed individuals is not a violation of human rights. "The true violation of human rights is depriving candidates from 63 districts to favour a select few from a single part of Chattogram," a speaker stated.   They also alleged that S Alam's control led to the forced resignation of older, experienced bank officials through intimidation. An executive, speaking anonymously, claimed that several senior officers were arrested and presented in the media as criminals for refusing to sign "fake investment files." The protesters warned that if all illegally appointed officials are not removed by next Thursday, they will launch a larger, intensified movement. They called for the recruitment of honest, qualified, and talented candidates through rigorous verification to "save Islami Bank from the grip of mafias." Other groups, including the Islami Bank Customer Forum, Conscious Businessmen's Forum, Islami Bank Ex-Bankers Council, Anti-Discrimination Job Seekers' Council, Conscious Professionals Group, Islami Bank CBA, and Conscious Banker Society, joined the human chain in solidarity.

The key index of Dhaka Stock Exchange (DSE) slipped on Monday while Chittagong Stock Exchange (CSE) ended higher, even as turnover rose on both bourses amid a broadly bearish trend. At the DSE, the benchmark DSEX shed 23 points to close lower. The Shariah-based DSES and the blue-chip DS30 indices also declined by 2 points and 3 points respectively. Out of 395 issues traded on the DSE, the prices of 96 advanced, 255 declined and 44 remained unchanged. Across all categories—A, B and Z—the majority of stocks ended in the red. In the A-category, which comprises the companies with the highest dividend records, prices of 61 issues rose, 134 declined and 24 remained unchanged. Block market transactions stood at Tk 33 crore, led by Brac Bank, which alone accounted for Tk 18 crore in block trades. The turnover at the DSE stood at Tk 736 crore, up from Tk 619 crore in the previous session. Progoti Insurance Limited topped the gainers’ list with a rise of nearly 10 percent, while Khulna Printing & Packaging Limited dropped more than 8 percent to become the day’s worst loser. On the other hand, the overall index of the CSE gained 10 points to close higher. Despite the index gain, most shares at the port city bourse ended lower. Stocks rise at DSE, CSE as indices gain Of the 200 issues traded, the prices of 76 advanced, 100 declined and 24 remained unchanged. The CSE recorded a turnover of Tk 12 crore, up from Tk 10 crore in the previous session. Union Bank led the gainers’ chart at the CSE with a 10 percent rise, while Anwar Galvanizing Limited fell nearly 9 percent to end as the day’s top loser.    

Bangladesh Bank (BB) has instructed all commercial banks to immediately sign agreements with 12 international asset recovery and law firms to launch a coordinated effort to repatriate money laundered allegedly by former prime minister Sheikh Hasina, her family members, and several major industrial groups. The directive was given on Monday during a meeting with managing directors of 32 commercial banks with Bangladesh Bank Governor Dr. Ahsan H. Mansur in chair, said Managing Director and CEO of Islami Bank Bangladesh PLC Omar Faruk Khan. All banks will engage the international law and asset recovery firms to trace and bring back the laundered money, he said. "Some banks will act as lead banks, forming consortia with others to sign agreements with these firms. Once finalised, we will assess how to repatriate and deposit the recovered money," he said. He added that the Criminal Investigation Department (CID) has already identified 11 industrial groups under investigation for money laundering including  Bashundhara , Nasa, and S Alam groups. "We will work with the asset recovery agencies under Non-Disclosure Agreements (NDAs). Some preliminary negotiations have begun," Faruk added. AB Bank managing director Mizanur Rahman  said the initiative represents a comprehensive effort in the entire banking sector involving multiple institutions. Pubali Bank Managing director Mohammad Ali said the central bank named the 12 international firms in the context of anti-money laundering efforts and directed banks to engage them for foreign asset recovery under NDAs. The list of individuals and entities allegedly involved in money laundering, a portion of which is believed to have benefited former Prime Minister and her family, includes former Land Minister Saifuzzaman Chowdhury's Aramit Group,S. Alam Group, Beximco, Bashundhara, Sikder Group, Nasa Group, Orion, Gemcon, Nabil, and Summit, among others. In a related move to strengthen regulatory oversight, the central bank recently established a new dedicated body called the Money Laundering and Terrorism Funding Prevention Department to enhance its ability to combat illicit financial flows. The central bank's action comes as four global organisations—the Stolen Asset Recovery (STAR) Initiative, International Anti-Corruption Coordination Centre (IACCC), US Department of Justice (DOJ), and International Centre for Asset Recovery (ICAR)—have reportedly already gathered key information and initiated legal processes related to the funds. Bangladesh's investigative agencies have so far traced an estimated Tk40,000 crore worth of assets built with laundered money, according to a recent statement from the CA Press Wing.

The country’s stock markets showed a mixed trend in the first half of Monday’s trading, with indices falling in Dhaka while gaining in Chattogram. During the first hour of trading, the key index of the Dhaka Stock Exchange (DSEX) dropped by 2 points, while the Shariah-based DSES and the blue-chip DS30 indices each gained 2 points. Most of the companies traded on the DSE saw a decline in share prices. Prices increased for 133 companies, fell for 182 and remained unchanged for 80 others. The total turnover on the DSE crossed Tk 380 crore in the first half of the session. DSE warns investors against dealings with Moshihor Securities over fraud Meanwhile, the overall index of the Chittagong Stock Exchange (CSE) rose by 26 points during the same period. Despite the index gain, most of the companies on the CSE witnessed a fall in prices — 57 advanced, 61 declined, and 21 remained unchanged. The turnover at the CSE stood at over Tk 4.40 crore in the first half of trading.

Japan’s benchmark Nikkei 225 index soared 4.5% on Monday after the ruling Liberal Democratic Party (LDP) elected ultra-conservative Sanae Takaichi as its new leader, positioning her to become Japan’s first woman prime minister. Other major Asian markets also traded mostly higher. Takaichi, 64, a close ally of former Prime Minister Shinzo Abe, is widely expected to continue his market-friendly “Abenomics” policies. Admired by former British Prime Minister Margaret Thatcher, Takaichi has long backed Abe’s conservative vision for Japan. Although the LDP does not hold a full majority in the lower house, its dominance and a fragmented opposition virtually guarantee her appointment as prime minister. Takaichi faces several daunting challenges, including revitalizing Japan’s competitiveness, strengthening its industrial base, and tackling an aging population and mounting public debt, according to analysts at BMI of Fitch Solutions. Despite these challenges, investor sentiment turned sharply positive. Neil Newman, head of strategy at Astris Advisory Japan, said foreign investors appeared to drive Monday’s rally. “Obviously investors like what she has been saying, and judging by which stocks moved, it seems like foreigners are leading the charge so far,” Newman said.Market optimism was also boosted by reports suggesting U.S. President Donald Trump might consider easing some tariffs on auto parts and manufacturing materials — news that sent automakers’ shares higher. Toyota rose 4.9% and Honda gained 4.7% in Tokyo trading. Japan’s first female LDP leader Takaichi sparks gender equality concerns By midday, the Nikkei 225 was up 4.5% at 47,835.36, while Hong Kong’s Hang Seng index slipped 0.8% to 27,930.45. The Japanese yen weakened to 149.88 per U.S. dollar from 149.33, as expectations grew that Takaichi’s policies could lead to increased government spending and inflationary pressure. The euro eased slightly to $1.1720. Australia’s S&P/ASX 200 edged down 0.1% to 8,977.10, while markets in mainland China, Taiwan, and South Korea remained closed for holidays. On Wall Street, U.S. stocks ended Friday mixed but near record highs. The S&P 500 gained less than 0.1% to 6,715.79, marking its seventh positive week in the last nine. The Dow Jones Industrial Average rose 0.5% to 46,758.28, while the Nasdaq slipped 0.3% to 22,780.51. The U.S. government shutdown, now in its third day, delayed the release of key monthly jobs data that investors were watching closely for clues about the Federal Reserve’s next moves on interest rates. Meanwhile, oil prices rose after OPEC+ members agreed to a modest production increase of 137,000 barrels per day for November, matching October’s output hike. U.S. benchmark crude gained 88 cents to $61.76 per barrel, and Brent crude climbed 92 cents to $65.45. Source: AP

The Dhaka Stock Exchange (DSE) has advised clients of Moshihor Securities Limited to transfer their shares to other brokerage firms, as the company’s trading and Depository Participant (DP) operations have been suspended for several months over fraudulent activities. In a statement, the DSE said clients have to move the shares held in their BO accounts to another TREC-holder company by completing the prescribed form for opening a linked BO account. Investors owed funds or shares by Moshihor Securities must download and complete the complaint form from the DSE's official website and submit it, along with relevant documents like portfolios and their signature, to the DSE by October 30. The suspension follows reports that Moshihor Securities allegedly misappropriated Tk 161 crore from investors—Tk 68.58 crore from clients’ Consolidated Customer Accounts (CCA) and Tk 92.35 crore through share sales. This is reportedly the largest fraud by a single brokerage in the country's capital market history. Moshihor Securities was one of the country's largest brokerage houses by client accounts, maintaining nearly 200,000 BO accounts, with about 44,000 active, according to the Central Depository Bangladesh Limited (CDBL).