United News of Bangladesh

Asian shares advanced on Thursday, following Wall Street’s record-setting gains, as investors shrugged off the U.S. government shutdown and technology stocks led the rally. South Korea’s Kospi jumped 2.9% to 3,555.63 after Samsung Electronics and SK Hynix announced a partnership with OpenAI to supply memory chips for its Stargate data hubs. Samsung shares rose 4.6%, while SK Hynix surged 10.8%. Taiwan-based TSMC gained 3.3%, lifting the Taiex by 1.7%. Japan’s Nikkei 225 added 0.3% to 44,675.96, while Hong Kong’s Hang Seng rose 1.3% to 27,206.18. Markets in mainland China remained closed for a national holiday. Australia’s S&P/ASX 200 climbed 1%, led by gold mining stocks, and India’s BSE Sensex gained 0.9% after the Reserve Bank of India kept its benchmark interest rate unchanged. Australian PM urges China to resume iron ore imports after reported trade halt In U.S. trading on Wednesday, the S&P 500 rose 0.3% to 6,711.20, the Dow Jones Industrial Average added 0.1% to 46,441.10, and the Nasdaq climbed 0.4% to 22,755.16. Investors are weighing the impact of the government shutdown and upcoming economic reports on the Federal Reserve’s interest rate decisions. Crude oil prices inched higher, with U.S. benchmark crude at $62.08 per barrel and Brent crude at $65.65. The U.S. dollar strengthened against the yen, while gold eased slightly from record highs. Source: AP

Prime Minister Anthony Albanese has urged China to allow the import of Australian iron ore without barriers following reports that a state-run Chinese company has asked steelmakers and traders to suspend purchases from mining giant BHP. According to media reports, China Mineral Resources Group Co. directed domestic buyers to temporarily stop buying dollar-denominated seaborne shipments from BHP, escalating a dispute over contract negotiations. Albanese said he was concerned by the reports, stressing that iron ore exports are vital to both economies.“I want Australian iron ore to be exported into China without hindrance. It makes a major contribution to China’s economy, as well as to Australia’s,” he told reporters. He described the measures as “disappointing,” adding, “Sometimes when people negotiate over price, these things occur. But I want to see this resolved quickly.” The suspension means new deals cannot be signed, even for shipments already sent from BHP’s mines in Australia. The Chinese company, created to strengthen Beijing’s influence in the global iron ore market, did not comment. BHP also declined to comment on the negotiations. Treasurer Jim Chalmers said he plans to meet BHP chief executive Mike Henry regarding the issue. “These are concerning reports, but ultimately they involve commercial arrangements between companies. Still, our government will continue to advocate for Australia’s interests and work through these matters calmly,” he said. North Korean, Chinese foreign ministers vow to deepen ties, resist hegemonism Since Albanese’s government took office in 2022, China has lifted a number of trade barriers worth up to 20 billion Australian dollars ($13 billion) annually. Iron ore, however, had previously been spared because of its importance to Chinese steelmakers. Analyst Kaan Peker from RBC Capital Markets noted that China cannot easily stop buying BHP ore without drastically cutting steel output. He said global suppliers, including Brazil’s Vale, Australia’s Fortescue, and Rio Tinto, are already producing at full capacity. “It seems more like a negotiation tactic, possibly aimed at securing lower prices,” Peker said. Source: AP 

The banking sector and the stock markets in Bangladesh will remain closed for four consecutive days starting from Wednesday. According to Bangladesh Bank, on the occasion of Durga Puja banks, other financial institutions and stock market will remain closed. The four-day closure includes two weekly  holidays. Bank holiday: Transactions, stock markets to remain suspended Tuesday Public holiday was announced on October 1 under a government executive order while October 2 holiday is for ‘Bijaya Dashami’ (the final day of Durga Puja). October 3 and 4( Friday and Saturday) are weekly holidays. However, essential automated services, including ATM, CRM (Cash Recycler Machines), and Mobile Banking, will remain operational.

The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday approved bond issuance proposals from three banks to bolster their Tier-II capital base under Basel III. The approval was given in the commissions’ its 975th meeting chaired by Chairman Khondoker Rashed Maqsood. BRAC Bank PLC received approval to issue an unsecured, non-convertible, fully redeemable, floating-rate social subordinated bond worth Tk 1,000 crore, carrying a coupon rate of Reference Rate plus 2.5% margin. The bonds will be issued through private placement to institutional investors at a face value of Tk 10 lakh per unit. Prime Bank Investment Limited will act as trustee and BRAC EPL Investment Limited as arranger. The bond will also be listed on the Alternative Trading Board (ATB). United Commercial Bank PLC was allowed to issue an unsecured, non-convertible, redeemable, floating-rate subordinated bond worth Tk 800 crore, with a coupon rate of Reference Rate plus 3% margin. The bond will be privately placed among institutional investors at Tk 1 lakh per unit. DBH Finance PLC will serve as trustee, while UCB Investment Limited will act as arranger. The bond will also be listed on the ATB. Trust Bank PLC received approval to issue an unsecured, non-convertible, redeemable, floating-rate subordinated bond worth Tk 500 crore, carrying a coupon rate of Reference Rate plus 3% margin. Jamuna, Pubali Banks get BSEC nod for subordinated bonds The bond will be issued via private placement to institutional investors at Tk 1 lakh per unit. DBH Finance PLC will act as trustee, with UCB Investment Limited and Trust Bank Investment PLC as arrangers. The bond will also be listed on the ATB. The proceeds from these bond issues will be used to strengthen the Tier-II capital base of the respective banks, enhancing their capital adequacy under Basel III requirements.

Gold traders in the country have started selling 22-carat gold at a historic high of Tk 195,384 per bhori (11.664 grams) from Tuesday. The Bangladesh Jewellers’ Association (BAJUS) increased the rate by Tk 2,415 per bhori, citing higher prices of pure gold in the local market. As per the revised tariff, 21-carat gold will cost Tk 186,496 per bhori, 18-carat gold Tk 159,855, and traditional gold Tk 132,725 per bhori. The selling price will include a mandatory 5 percent VAT set by the government and a minimum making charge of 6 percent fixed by BAJUS, with additional variations depending on design and quality. The latest hike comes just two days after BAJUS lowered the price on September 27, when the rate of 22-carat gold was set at Tk 192,969 per bhori. Earlier, on September 23, the association raised the price by Tk 3,663 to Tk 194,859 per bhori — then the highest on record. So far this year, gold prices in the local market have been revised 59 times — raised on 41 occasions and reduced 18 times. In September alone, BAJUS adjusted gold prices 12 times, with the metal soaring by Tk 21,000 per bhori in just one month.

Global shares slipped in cautious trading on Tuesday as investors weighed the possibility of a U.S. government shutdown. In Europe, France’s CAC 40 fell 0.5% to 7,845.73, Germany’s DAX dipped 0.1% to 23,718.17, and Britain’s FTSE 100 lost 0.2% to 9,282.13. U.S. stock futures also pointed lower, with Dow futures down 0.2% at 46,518.00 and S&P 500 futures falling 0.2% to 6,703.75. Asian markets showed mixed movements. Japan’s Nikkei 225 declined nearly 0.3% to close at 44,932.63. China released weak factory activity data for September, highlighting ongoing economic pressure amid U.S. trade tensions. In contrast, Hong Kong’s Hang Seng rose 0.9% to 26,855.56, while the Shanghai Composite gained 0.5% to 3,882.78. Australia’s S&P/ASX 200 slipped 0.2% to 8,848.80, and South Korea’s Kospi edged down nearly 0.2% to 3,424.60. The U.S. federal government faces a looming budget deadline that could lead to a shutdown. Previous shutdowns were usually brief and had limited market impact. However, prolonged political deadlock between Democrats and Republicans could delay key economic reports, including data on employment and inflation. This potential shutdown may be more severe if the White House moves to implement large-scale federal worker layoffs. North Korean, Chinese foreign ministers vow to deepen ties, resist hegemonism Stephen Innes, managing partner at SPI Asset Management, said, “The market has explored every angle of the government shutdown story, yet with less than 24 hours remaining before the deadline, the narrative continues to dominate investor attention.” Investors are also eyeing Friday’s report on U.S. job creation and layoffs. Balanced numbers could support the Federal Reserve’s plan to continue lowering interest rates, while unexpectedly strong data might reduce the likelihood of further rate cuts, putting pressure on stock prices that have already surged in recent months. In commodities, U.S. benchmark crude fell 97 cents to $62.48 per barrel, while Brent crude dropped $1.02 to $66.95 per barrel. In currency markets, the U.S. dollar rose to 148.87 Japanese yen from 148.60 yen, and the euro increased to $1.1761 from $1.1727. Source: AP 

Trading at Bangladesh’s two stock exchanges opened on a positive note on Tuesday, with major indices climbing and most shares posting gains. On the third working day of the week, the key DSEX index at the Dhaka Stock Exchange (DSE) rose 43 points within the first hour of trading. The other two indices also moved higher, with the Shariah-based DSES up 8 points and the blue-chip DS30 increasing by 5 points. Most stocks on the DSE recorded price appreciation, with 294 issues advancing, 39 declining and 59 remaining unchanged. Turnover on the DSE exceeded Tk 300 crore in the opening hour. Meanwhile, at the Chittagong Stock Exchange (CSE), the overall index gained 63 points. Of the 127 issues traded, 82 advanced, 31 declined and 14 remained unchanged, with turnover surpassing Tk 3 crore in the first hour.  

Dhaka, Sep 29 (UNB)-Bangladesh Bank (BB) has made it mandatory for all banks and financial institutions to report private sector foreign loans, including suppliers’ credit, to the central bank's Credit Information Bureau (CIB) database. The central bank issued a directive on Monday and sent it to the top executives of all commercial banks. The new instruction, aimed at improving financial sector governance, will be effective from November this year. Currently, foreign loan data is not included in the CIB database. This exclusion means the CIB report does not reflect the borrower's true debt burden, potentially allowing an entity that has failed to repay a foreign loan to still obtain a new local loan. By including foreign loan information, the BB expects to increase transparency and accountability in the banking sector, improve loan risk management, and allow banks and NBFIs (finance companies) to assess a customer's creditworthiness and risk more efficiently before approving a loan. Help maintain credit discipline in the financial sector, potentially enhance the nation's international credit rating and strengthen the confidence of foreign investors and international organisations. The circular outlines several specific reporting requirements for banks to report mandatory information on all foreign loans for individuals/institutions, whether approved by the Bangladesh Investment Development Authority (BIDA) or Bangladesh Bank, must be reported. Foreign credit facilities that do not require BIDA or BB approval but do not create any liability for the bank must also be reported. The central bank instructed that associated parties’ data must be reported for all interested parties, including directors, shareholders holding more than 20 percent of shares, and guarantors. The foreign lender and approving authorities’ name, address, and country of the foreign lender, as well as the local approval authority (such as BIDA, BB-FEID, or BB-FEPD), must be reported for every foreign loan. Besides, all foreign loan information must be reported in the approved foreign currency. Additionally, the outstanding and overdue amounts must also be reported in the equivalent of US dollars. Data up to October 2025 and all subsequent loan information must be reported every month starting from November 1 this year. Any new loan, adjustment, or change must be reported to the CIB database in ‘Real Time’, as stated in the directive.

The Dhaka Stock Exchange (DSE) bounced back on Monday after the previous session’s decline, with its key index, overall turnover and prices of most listed shares closing higher. At the end of the day’s trading, the benchmark DSEX index gained 9 points. The Shariah-based DSES and the blue-chip DS30 index, however, failed to follow the upward trend. While the broad market advanced, the DS30 slipped by 1 point and the DSE Shariah index closed flat. Out of 397 issues traded on the DSE, prices rose for 212 companies, declined for 105 and remained unchanged for 80. Gains were recorded across all categories — A, B and Z. Among the top A-category firms, 116 advanced, 61 declined and 43 remained unchanged. Turnover on the DSE stood at Tk 599 crore, up from Tk 564 crore in the previous session. In the block market, shares worth Tk 23 crore of 24 companies changed hands, with Eastern Bank PLC leading the block trade with Tk 7 crore. First Security Islami Bank PLC topped the gainers’ list with a rise of over 9%, while Union Capital Limited slumped more than 7% to finish at the bottom. The Chittagong Stock Exchange (CSE) also closed higher, with its broad index advancing by 11 points. Indices gain in early trading at DSE, CSE Of the 197 issues traded, 79 gained, 80 declined and 38 remained unchanged. But the turnover on the CSE dropped to Tk 12 crore, compared to Tk 13 crore in the previous session. First Security Islami Bank also led the gainers in CSE with a 10% rise, while Tallu Spinning Mills Limited plunged 19% to end as the worst loser.

Effective branding, proper marketing strategies and stronger compliance support are essential for unlocking the export potential of Bangladesh’s cottage, micro, small and medium enterprises (CMSMEs), experts said on Monday. They came up with their observations while addressing a focus group discussion, titled ‘Branding and Marketing Challenges for CMSMEs: Unlocking Export Potential’. The Dhaka Chamber of Commerce & Industry (DCCI) organised the discussions. DCCI President Taskeen Ahmed said CMSMEs contribute nearly 28% to Bangladesh’s GDP, while in countries like Sri Lanka, Vietnam and Cambodia the figure is close to 50%. “Despite making up about 90% of Bangladesh’s industrial sector and employing around 11.8 million people, CMSMEs are struggling due to limited access to finance, weak infrastructure, shortage of skilled manpower, policy bottlenecks and lack of technology adoption,” he said. Taskeen Ahmed also pointed out that recent additional tariffs imposed by the USA on Bangladeshi exports, particularly garments, will raise production and export costs. “Entrepreneurs must embrace innovation, efficiency and technology to reduce costs and stay competitive,” he said. To strengthen the sector, he urged for policy support including certification and compliance facilitation, training, incentives for sustainable technology, product quality improvement, branding, cluster development, a CMSME database, as well as foreign investment in backward linkage industries. Md Saiful Islam, Chairman of Bangladesh Small and Cottage Industries Corporation (BSCIC), said despite institutional challenges, BSCIC has been supporting entrepreneurs with industrial parks, low-cost finance and training. Saiful Islam said efforts are underway to exempt holding tax for industries inside BSCIC parks and called for greater presence of Bangladeshi products on global e-commerce platforms like Amazon, eBay and Alibaba. He also stressed the need for attractive packaging and international certifications to enhance export opportunities. Mohammad Hasan Arif, Vice Chairman & CEO of the Export Promotion Bureau (EPB), said local consumer mindset must change first to build a strong national image of Bangladeshi products abroad. He announced that EPB will soon launch an Export Ecosystem Platform and a CMSME Help Desk to provide entrepreneurs with comprehensive services, including focal points from relevant government agencies. EPB also plans to facilitate bilateral networking during international trade fairs and confirmed Bangladesh’s participation in a fair in Brazil next year. Muhammad Mustafizur Rahman, Additional Director at Bangladesh Bank’s SME & Special Programmes Department, highlighted the importance of product logos, demand-driven design, promotional campaigns and celebrating success with consumers. He informed that the central bank has issued a circular allowing entrepreneurs to have access to collateral-free loans of up to Tk 500,000. “As of December last year, 12% of total SME loans were provided without collateral,” he said. The speakers at the discussion agreed that CMSMEs, with proper branding, technology adoption and compliance, could play a much stronger role in diversifying Bangladesh’s export basket and strengthening the economy.