United News of Bangladesh

Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of the Bangladesh Investment Development Authority (BIDA), on Sunday invited both local and foreign investors to come forward to revive state-owned industrial enterprises through private investment. Stressing that the private sector is best suited for running commercial entities, he noted that the government's primary role should be to facilitate private investment rather than competing with it. In a post shared on his official LinkedIn account on Sunday, the BIDA chief highlighted that this initiative would provide investors with quick business expansion opportunities via ready infrastructure or "plug-and-play" facilities. At the same time, it will relieve fiscal pressure on the government and generate new employment opportunities, making it a win-win scenario for both parties. According to the BIDA Chairman, a total of 44 investable opportunities has already been identified across various state agencies. These opportunities span sectors including steel, textiles, chemicals, sugar, food, and jute, covering an aggregate land area of over 10,000 acres. Ashik emphasized that these industrial assets are strategically located within critical industrial zones across the country rather than being isolated properties. In most cases, these sites already boast essential infrastructure—such as electricity, gas, and transportation links—alongside an established industry-oriented workforce and community. Discussions are currently underway with domestic and international investors regarding the productive reuse of these assets. While some enterprises may be restarted within their original sectors, other assets could be repurposed for new industries aimed at reducing import dependency or boosting export capabilities. To facilitate this transition, the BIDA Chief assured investors of a transparent framework, fast-tracked approvals, and integrated assistance during the asset acquisition process. Interested investors can access the comprehensive list and detailed information on the investable assets through the designated online portal.  

Bangladesh Bank (BB) on Sunday issued fresh directives regarding the appointment of audit firms to examine applications for alternative cash assistance and export subsidies in customs bonds and duty draw-backs for export-oriented domestic textile and other applicable sectors. According to a circular issued by the Foreign Exchange Policy Department-1 (FEPD-1) of the central bank, banks can now appoint audit firms to scrutinize cash incentive applications for exports made in FY2026-27, subject to a 'No Objection Certificate' (NOC) from the FEPD-1. BB announces export incentives for 43 sectors for Fy26-27 The circular, signed by FEPD-1 Director Md. Harun-Ar-Rashid, stated that banks may engage an equal number of audit firms as those currently employed for their regular bank accounting audits. However, if any bank requires additional audit firms beyond that number, it must submit a formal application to Bangladesh Bank for approval. The central bank specified that such applications must clearly outline the justification for appointing extra firms, the previous history of those firms working with the bank, the volume of cash assistance/export subsidy cases, and other necessary data. The central bank noted that all other previous instructions regarding audit procedures—including those detailed in FE Circular Letter No. 10 (dated July 08, 2024) and FE Circular No. 20 (dated December 03, 2023)—will remain unchanged. All Authorized Dealer (AD) banks have been instructed to immediately inform the relevant stakeholders about the new guidelines.

Industries Minister Khandaker Abdul Muktadir said on Sunday said the government is working to raise the contribution of the cottage, micro, small and medium enterprise (CMSME) sector to at least 60 percent of the national economy. He also directed officials of the Bangladesh Small and Cottage Industries Corporation (BSCIC) to submit specific proposals within the next seven days to help accelerate the implementation of ongoing and new industrial projects. The directives came while addressing a daylong workshop titled "Contribution of BSCIC Industrial Estates to the National Economy and Measures to Overcome Existing Challenges" at the BSCIC headquarters in Tejgaon, Dhaka. The workshop brought together officials from BSCIC industrial estates across the country to discuss the organisation's achievements over the past 69 years, as well as the challenges and future prospects of the sector.

Bangladesh Bank (BB) on Sunday announced export incentives and cash assistance rates for 43 sectors for the fiscal year FY2026-2027, aimed at encouraging the export trade. The new rates will be applicable to products shipped between July 1, 2026, and June 30, 2027, according to a circular issued by the Foreign Exchange Policy Department (FEPD) of the central bank. Bangla QR records Tk 22.02 crore transactions in 48 hours: Bangladesh Bank  The highest incentives have been allocated for frozen shrimp, furniture, diversified jute products, agro-processed products, potato, leather goods, light engineering products and halal product exports. According to the circular signed by BB Director Md. Harun-Ar-Rashid, cash assistance applications submitted by exporters must undergo periodic audits by external audit firms in compliance with the central bank’s guidelines. All other existing conditions regarding foreign exchange circulars will remain effective. As per the newly issued matrix, the highest incentive rate of 10 percent has been set for several high-priority sectors. These include diversified jute products, leather goods, agricultural and agro-processed products, potatoes, light engineering products, 100 percent halal meat and processed meat products, and accumulator batteries. Meanwhile, the readymade garments (RMG) and textile sectors will continue to receive tailored assistance. Alternative cash assistance for the export-oriented domestic textile sector in lieu of customs bond and duty drawback has been fixed at 1.50 percent. Exporters of textiles to the Eurozone will receive additional special assistance of 0.50 percent. Small and Medium Enterprises (SMEs) within the export-oriented RMG sector (knitwear, woven, and sweaters) will enjoy an extra benefit of 3.0 percent. Special cash assistance of 0.30 percent has also been designated for the overall RMG sector. For new products or expansion into new markets (excluding the USA, Canada, EU, and UK), the textile sector will receive a 2.0 percent incentive. Among other major sectors, an 8.0 percent incentive has been allocated for furniture, carbon made from jute sticks, jute particle boards, seeds of crops and vegetables, agar and attar, and frozen shrimp (with up to 20 percent ice capping). Software, hardware, and IT-Enabled Services (ITES) exports will receive a 6.0 percent incentive, while individual-level freelancers exporting software and ITES will get 2.50 percent. Active Pharmaceuticals Ingredients (API) will receive 5.0 percent, and pharmaceutical products will enjoy a 6.0 percent cash incentive. The circular also specified fixed subsidy rates for companies located in Specialized Zones, including BEZA, BEPZA, and Hi-Tech Parks. Processing agricultural products under Type-A and Type-B enterprises in these zones will receive a 2.0 percent subsidy, while other designated sectors will receive incentives ranging from 0.30 percent to 2.0 percent.

The country's stock markets witnessed a broad-based rally on the first trading day of the week, with share prices of most listed companies rising and overall turnover increasing on both bourses. At the end of the day's trading on Sunday, the Dhaka Stock Exchange's (DSE) benchmark index DSEX rose 43 points. The Shariah-based index DSES gained 9 points, while the blue-chip index DS30 advanced 29 points. Of the issues traded, 177 companies saw their share prices rise, 153 declined, and 59 remained unchanged. Turnover on the DSE stood at Tk 1,530 crore in shares and units. In the block market, shares worth Tk 48 crore of 53 companies changed hands. Unique Hotel and Resorts PLC topped the gainers' list, posting nearly a 10 percent rise, while Familytex (BD) Limited was the worst performer, losing around 8 percent. The Chittagong Stock Exchange (CSE) also closed higher, with its overall index CASPI adding 8 points. Of the traded companies, 141 advanced, 96 declined, and 19 remained unchanged. Total turnover on the CSE stood at Tk 66 crore, up from Tk 60 crore in the previous session. Phoenix Finance 1st Mutual Fund, Eastern Cables Limited, and IFIL Islamic Mutual Fund-1 led the gainers, each rising about 10 percent, while Meghna Life Insurance PLC was the top loser, shedding nearly 10 percent.

State Minister for Local Government, Rural Development and Cooperatives, Mir Shahe Alam, MP, has called for effective initiatives to modernise products manufactured by cooperatives and expand their exports to both domestic and international markets. He made the call while addressing a discussion meeting marking the 104th International Day of Cooperatives, at the Multipurpose Hall of the Department of Cooperatives in Agargaon on Saturday. This year’s theme was “Cooperatives for a Peaceful World.” He said Bangladesh’s cooperative movement requires improving the quality, efficiency and institutional capacity of existing cooperative societies rather than merely increasing their number. The programme began with the hoisting of the national flag. The State Minister formally inaugurated the event by releasing balloons and doves, symbols of peace. He also visited exhibition stalls showcasing products made by cooperatives. During the event, the State Minister held an interactive session with officials of the Department of Cooperatives from divisional, district and upazila levels and was briefed on various field-level challenges. He emphasised greater caution in assigning responsibilities and stressed the importance of placing the right people in the right positions. He also instructed the authorities to take necessary measures to strengthen district offices removing all bureaucratic blockades. Mir Shahe Alam said the government of Prime Minister Tarique Rahman attaches special importance to the cooperative sector. He noted that the International Day of Cooperatives is not merely an occasion for celebration but also an opportunity to reaffirm the ideals, values and contributions of the cooperative movement. Speaking as a special guest, Abdus Salam, President of the Bangladesh National Cooperative Union and Administrator of the Dhaka South City Corporation, said the Department of Cooperatives has made significant contributions over the years to economic inclusion in rural areas, women’s empowerment and employment generation. He said cooperatives have the potential to make an even greater contribution to improving people’s livelihoods and called for the expansion of training programmes, low-interest loans, incentive packages and necessary legal reforms to make the sector more people-friendly. With registrar and director general of the Department of Cooperatives Md Selim Fakir in the chair, the function was also addressed, among others, by Rural Development and Cooperatives Division secretary Shaukat Rashid Chowdhur, and Additional Registrar of the Department of Cooperatives Md Nabirul Islam.

The Bangladesh Jeweller’s Association (BAJUS) raised the price of gold for the second consecutive day on Friday, pushing up the rate of 22-carat gold by 4,374 per bhori. The organisation announced the new price through a notice in the morning. According to the new rate, each bhori (11.664 grams) of 22-carat gold will now cost Tk 228,556 in the domestic market, including VAT. BAJUS also fixed the price of 21-carat gold at Tk 218,292 per bhori, 18-carat gold at Tk 187,440 per bhori, and traditional gold at Tk 153,148 per bhori. The association last revised the gold price on July 2, raising it by Tk 2,216 per bhori to set the price of 22-carat gold at Tk 224,182, including VAT. It said the new price will remain effective at all jewellery outlets across the country until further notice, though making charges will apply depending on the design of the ornaments. Since VAT is included in the sale price of gold and silver ornaments, jewellers cannot charge VAT separately from customers. The association's existing rules will continue to be applicable to exchange and purchase of ornaments, excluding specified VAT, making charges and the cost of stones. So far, the price of gold has been adjusted 86 times in the domestic market this year, with 43 hikes, 42 cuts, and one VAT adjustment. Alongside gold, the price of silver has also been increased. The price of 22-carat silver has been set at Tk 4,899 per bhori, up by Tk 117. The price of 21-carat silver has been fixed at Tk 4,666 per bhori, 18-carat at Tk 4,024 per bhori, and traditional silver at Tk 3,033 per bhori. The price of silver has been adjusted 53 times so far this year, with 27 hikes and 26 cuts.

Stock markets across Europe and Asia moved higher on Friday after the Dow Jones Industrial Average closed at another record high, helped by gains in several major artificial intelligence (AI)-related companies, although some chipmakers continued to face selling pressure. Futures for the S&P 500 rose 0.4%, while Dow futures gained 0.2%. US financial markets remained closed on Friday for the Independence Day holiday. In early European trading, Germany's DAX climbed 0.7% to 52,643.30, France's CAC 40 added 0.3% to 8,497.30, and Britain's FTSE 100 advanced 0.4% to 10,689.77. Asian markets also posted solid gains. South Korea's Kospi rebounded 5.8% to 8,088.34 after falling nearly 8% a day earlier. Samsung Electronics rose 8.2%, while chipmaker SK Hynix jumped 10.9%. Japan's Nikkei 225 gained 1.5% to 69,744.07. Chip equipment maker Tokyo Electron edged up 0.4%, while memory chip producer Kioxia surged 9.2%. Hong Kong's Hang Seng index rose 1.3% to 23,345.28, while China's Shanghai Composite added 0.4% to 4,043.64. Taiwan's Taiex increased 0.1%, India's Sensex gained 0.7%, and Australia's S&P/ASX 200 advanced 1.4% to 8,844.40. Stephen Innes of SPI Asset Management said Asian markets regained some stability after two difficult sessions led by losses in technology stocks, with South Korea staging a strong rebound. On Thursday, the Dow Jones Industrial Average rose 1.1% to a record close of 52,900.07. The broader S&P 500 ended almost unchanged, adding less than 0.1% to close at 7,483.24, even though about 70% of its listed companies gained. The tech-heavy Nasdaq Composite fell 0.8% to 25,382.67, weighed down by losses in major chipmakers. Investor sentiment was supported by a US jobs report showing employers added 57,000 jobs in June, below economists' forecast of 100,000 and slower than May's hiring pace. The weaker-than-expected jobs data eased concerns that inflation could remain high. Oil prices, which had surged during the Iran conflict, have now fallen below pre-war levels, raising hopes that inflation may cool in the coming months. If inflation continues to slow, the US Federal Reserve may face less pressure to raise interest rates repeatedly this year. Lower interest rates generally support economic growth by reducing borrowing costs for households and businesses and often boost stock prices. Cryptocurrency-related shares also advanced as bitcoin recovered after recent losses. Robinhood Markets gained 3.8% and Coinbase Global rose 3.9%. Bitcoin was up 0.5% early Friday after climbing about 2% the previous day. Despite the broader market gains, several leading AI-related chip companies remained under pressure as investors questioned whether their rapid share price increases and heavy spending on AI infrastructure would generate the expected profits. Micron Technology reversed early gains to end down 5.5%, following a 10.6% drop the previous day. Nvidia fell 1.4%, while Lam Research slid 10.2%, making them among the biggest drags on the S&P 500. Nvidia remains the largest company in the index with a market value of nearly $4.7 trillion. In commodity trading, Brent crude oil rose 0.6% to $72.26 per barrel, while US benchmark crude gained 0.5% to $69.05 per barrel. In currency markets, the US dollar slipped to 160.97 Japanese yen from 161.11 yen, while the euro strengthened to $1.1450 from $1.1431.

Highlighting a significant momentum in the country’s push toward a cashless society, the nationwide mandatory rollout of the unified "Bangla QR" payment standard recorded 77,165 transactions amounting to Tk22.02 crore over a span of just two days, central bank data showed. The transactions were registered on June 30 and July 1, 2026, marking the official eve and day of the central bank's deadline for financial institutions to fully transition to the standardized system. According to Bangladesh Bank, the introduction of the standardized, interoperable Quick Response (QR) code aims to fundamentally restructure retail payment infrastructure, phase out cash dependencies, and foster a more efficient digital financial ecosystem. Unified Payment Standard for Small and Large Merchants: Developed by the central bank under the National Payment Switch Bangladesh (NPSB) platform, Bangla QR serves as a single "one country, one QR" payment mechanism. The primary technological advantage is its low-cost infrastructure. Instead of expensive Point of Sale (POS) card terminals, merchants—ranging from large retail malls to roadside micro-vendors and street hawkers—only require a printed QR code sticker to receive digital payments. Previously, merchants had to display multiple QR codes issued by individual banks or Mobile Financial Service (MFS) providers. The new mandatory guidelines ensure complete interoperability, allowing a customer using any participating bank app or MFS wallet (such as bKash or Nagad) to scan a single universal code. Cost Caps and Consumer Security: To further incentivize the digital transition and promote affordable access, Bangladesh Bank issued a fresh circular on July 1, capping the maximum Merchant Discount Rate (MDR) at percent (including VAT) for transactions channelled via Bangla QR. This fixed rate applies across bank accounts, debit, credit, or prepaid cards, and MFS platforms. Addressing social media speculation regarding additional operational expenses, Bangladesh Bank spokesperson Arif Hossain Khan clarified that the payment service is entirely free for consumers.  "Consumers can make purchases through Bangla QR without paying any charge. The transaction fee applies strictly to merchants and cannot be legally passed down to the customers," the spokesperson stated, adding that asking buyers to pay extra violates official payment guidelines. The central bank expects that moving retail trade into recorded digital channels will gradually reduce the informal footprint of the economy, improve financial transparency, mitigate risks associated with physical cash handling or card cloning, and significantly boost the country's tax-to-GDP ratio.

BRAC Bank has unveiled a range of exclusive offers for the valued customers, marking its 25th anniversary, celebrating the trust and loyalty of the millions of customers who have been part of the bank’s long journey. As part of its silver jubilee celebrations, the bank is offering a 25% waiver on SME loan processing fees for all eligible SME loan applications submitted throughout July 2026. Selected debit and cardholders will also enjoy a premium dining campaign featuring an exclusive “Buy 1, Get 3 Free” buffet dinner offer at leading hotels, including Crowne Plaza Dhaka Airport, InterContinental Dhaka, Radisson Blu Chattogram Bay View, Sheraton Dhaka and The Westin Dhaka. The offer will be available from 3 July to 5 July 2026 on selected BRAC Bank cards. The anniversary initiatives have been designed to thank customers by creating meaningful value while celebrating a significant milestone in the bank’s journey, according to a press release. Managing Director and CEO of BRAC Bank Tareq Refat Ullah Khan described the silver jubilee as a celebration of the trust customers have placed in them over the past 25 years. “These special offers are a small token of our appreciation for their enduring partnership as we continue our journey of delivering innovative, inclusive, and customer-centric banking.”