United News of Bangladesh

The Bangladesh Bank (BB) has relaxed the eligibility criteria for commercial banks and financial institutions to participate in Tk 25,000 crore refinance schemes for the Cottage, Micro, Small, and Medium Enterprise (CMSME) sector. The move is a direct response to the banking sector's escalating rate of non-performing loans (NPLs). The new directive issued by the SME and Special Programs Department said that banks and financial institutions can now access the fund even if their total classified (defaulted) loans reach up to 20 percent of their portfolio. This is a significant change from the previous condition, which required institutions to maintain a classified loan ratio of less than 10 percent to be eligible for the scheme. The central bank's decision to raise the NPL ceiling comes after the government change last year, which led to the disclosure of a large volume of previously unpublicized defaulted loans across the banking sector. While the NPL limit has been adjusted, other key guidelines of the original circular remain unchanged. The central bank emphasizes the need to prioritize lending to: •Women entrepreneurs •Entrepreneurs with special needs •Entrepreneurs affected by disasters (such as river erosion, cyclones, floods, fire, or pandemics like COVID-19) The distribution limits are also strictly defined as production and service sector at least 70 percent, business and trading sector maximum 30 percent, cottage, micro and small entrepreneurs at least 75 percent, medium entrepreneurs maximum 25 percent. About the Refinance Scheme: The CMSME Term Loan Refinance Scheme was launched by the Bangladesh Bank in July 2022. The fund, established entirely by the central bank, allows banks and financial institutions to borrow money at a 2 percent interest rate. They are then permitted to lend this money to CMSME entrepreneurs at a maximum interest rate of 7 percent. The scheme has an announced duration of three years, but loans to customers can have a term of up to five years, including a grace period. The central bank has also noted that the size of the fund may be increased if necessary.

CEMS-Global USA and CEMS Bangladesh have inaugurated a major series of international trade exhibitions focusing on the construction, energy, and water sectors at the International Convention City Bashundhara (ICCB) in Dhaka. The three-day expos, taking place from 13 to 15 November, bring together hundreds of local and international exhibitors, along with thousands of visitors, to explore innovation and sustainability across key industries. The opening ceremony was presided over by Meherun N. Islam, President and Group Managing Director of CEMS-Global USA and Asia-Pacific. Dr. Engr Mohammad Giasuddin Haider, Director General of the Housing and Building Research Institute (HBRI); M. A. Kamal Billah, Additional Secretary, Ministry of Industries; Md. Mustafizur Rahman, Deputy Managing Director (Finance) (O&M), Dhaka Water Supply and Sewerage Authority (WASA); and Md. Tanvir Masud, Head of Project, Skills4SE, GIZ Bangladesh, attended as special guests. The exhibitions, running from 10:30am to 8pm daily, feature the 30th Build Bangladesh International Expo 2025 and the 24th Real Estate Expo 2025, marking the 30-year milestone of the Build Series. Over the past three decades, the Build Series has evolved into Bangladesh’s largest and longest-running platform for the construction industry, highlighting advanced materials, technologies, and modern housing solutions. Highlighting the contribution of the construction sector, Meherun N. Islam said that the expos play a vital role in driving industrial growth and promoting sustainable development. “For the past 30 years, CEMS-Global has been at the forefront of organising international trade exhibitions that bridge industries and nations. The Build, Power, and Water Series reflect Bangladesh’s remarkable industrial growth and commitment to sustainability,” she said. Running concurrently, the 27th Power Bangladesh International Expo 2025, the 22nd Solar Bangladesh International Expo 2025, and the 7th Dhaka International Lighting Expo 2025—collectively known as the Power Series—are showcasing the latest technologies in power generation, renewable energy, and smart lighting systems.

Trading at both the Dhaka and Chattogram stock exchanges began Thursday with a steep fall, as most listed companies saw a decline in their share prices. At the Dhaka Stock Exchange (DSE), the key index DSEX dropped by 57 points, while the Shariah-based DSES and the blue-chip DS30 indices fell by 16 and 22 points, respectively. Out of all traded issues, prices of 298 companies declined, while 40 advanced and 39 remained unchanged. DSE ends 10-day losing streak; turnover dips The DSE recorded transactions worth over Tk 150 crore in the first hour of trading. The downward trend continued at the Chittagong Stock Exchange (CSE) as well, where the overall index slid by 93 points. At the CSE, prices of 73 companies fell, while 12 gained and 4 remained unchanged, with total turnover exceeding Tk 5.4 crore in the first half of the session.

Foreign ministers from the Group of Seven (G7) nations reaffirmed their united support for Ukraine and condemned escalating violence in Sudan on Wednesday but avoided divisive issues such as U.S. trade tensions with Canada and recent American military strikes in the Caribbean. At the two-day meeting, the G7 ministers met with Ukraine’s Foreign Minister Andriy Sybiha, who urged continued international support as his country braces for a harsh winter amid intensified Russian attacks. In a joint statement, the ministers pledged to increase economic pressure on Moscow and target those financing its war. Canada and the UK announced new sanctions and energy aid for Ukraine, while U.S. Secretary of State Marco Rubio said discussions focused on strengthening Ukraine’s defense. The gathering came shortly after President Donald Trump halted trade talks with Canada over a provincial advertisement that angered Washington. Canadian Foreign Minister Anita Anand declined to discuss the issue, emphasizing that the focus was on G7 cooperation. G7 foreign ministers gather in Canada amid rising trade tensions with Trump Rubio also confirmed that U.S. military operations against alleged drug-smuggling vessels “didn’t come up once” in discussions, dismissing reports of intelligence-sharing tensions with Britain. The G7 ministers also issued a strong condemnation of Sudan’s worsening conflict, with Rubio calling for urgent action to stop the flow of weapons to the paramilitary Rapid Support Forces. The G7 includes Canada, the U.S., Britain, France, Germany, Italy and Japan, with ministers from Australia, India, Brazil, Saudi Arabia, Mexico, South Korea, South Africa and Ukraine also invited. Source: AP

The National Board of Revenue (NBR) has directed all Customs Bond Commissionerates to bar unauthorised individuals from entering offices or participating in official activities, citing concerns over workplace discipline and security. A circular issued by the NBR’s Customs Export and Bond Division expressed alarm over reports that outsiders have recently taken part in official functions at several Bond Commissionerates without approval. The NBR said such activities have disrupted office operations and undermined discipline and security. Despite repeated instructions at revenue review meetings, compliance with access restrictions has remained inadequate, the circular added. The NBR also indicated that some recent untoward incidents at various Bond Commissionerates may have involved these outsiders. Officials or employees found linked to outsiders, directly or indirectly, will face disciplinary action under the Government Servants (Discipline and Appeal) Rules, 2018.

Bangladesh Jamaat-e-Islami and representatives of the International Monetary Fund (IMF) held a meeting at the organization's (Jamaat's) central office on Wednesday (November 12). The meeting focused on various issues related to Bangladesh's sustainable economy, different financial sectors, the tax system, and the social sector. The discussions also covered key areas crucial for Bangladesh's economic stability and growth, including policies concerning the tax structure and the overall financial health of the nation. The IMF delegation was led by Chris Papageorgiou, the Mission Chief's Advisor for Bangladesh. He was accompanied by Maxim Krasko, IMF Resident Representative in Dhaka, Ivo Krezner, Deputy Chief of Mission, and Tawhid Elahi, Economic Analyst. Representing Bangladesh Jamaat-e-Islami were Mobarak Hossain, Central Executive Council Member, Prominent Academicians Dr. Abdur Rab and Shafiullah.

The Bangladesh Bank has directed banks to keep the cash margin requirement at the minimum possible level for opening Letters of Credit (LCs) to import ten essential food items ahead of the holy month of Ramadan. The ten commodities covered under this special facility are rice, wheat, onion, pulses, edible oil, sugar, chickpea (chhola), motor (peas), spices, and dates. The directive, issued by the Banking Regulation and Policy Department of the Bangladesh Bank on Wednesday and sent to the Managing Directors and Chief Executive Officers of all scheduled banks for execution. The new instruction is effective immediately and will remain in force until March 31, 2026. The central bank stated that the initiative was taken to ensure adequate supply and keep prices stable in the market, as the demand for these goods typically increases significantly during Ramadan. The directive explicitly states that the necessary cash margin for importing these ten essential items must be maintained at the minimum possible level, based on the banker-customer relationship. Previously, the central bank had imposed a requirement for banks to maintain up to 100 percent cash margin for opening LCs for certain consumer goods during the Ramadan season. This was later relaxed to a minimum requirement, based on the banker-customer relationship, a facility that expired on March 31 of the previous year. The Bangladesh Bank further instructed banks to prioritize the establishment of LCs for these commodities to ensure their sufficient supply in the domestic market.

Bangladesh is set to receive a record $550 million in foreign direct investment (FDI) from Denmark’s global terminal operator APM Terminals, marking the largest European investment in the country’s history, according to the Public Private Partnership Authority (PPPA). Speaking at a press briefing at the Foreign Service Academy on Wednesday afternoon, PPPA Chief Executive Officer Chowdhury Ashik Mahmud Bin Harun said APM will build a world-class container terminal in Laldia, Chattogram, with an investment equivalent to Tk 6,700 crore. The company will bear the entire project cost. “This is the biggest-ever single investment from Europe in Bangladesh,” Ashik said, adding that APM will sign the agreement next week. A high-level delegation from APM, along with a Danish minister, is scheduled to visit Dhaka to attend the signing ceremony. SoftBank sells Nvidia stake for $5.8 billion to boost investments in OpenAI Upon signing, APM will pay Bangladesh a Tk 250 crore signing bonus, he added. The Laldia terminal, with the motto ‘Not for Sale – For Success and Growth’, will be capable of handling vessels twice the size of those currently entering Chattogram Port. Its minimum annual capacity will be 800,000 containers. The construction is expected to begin in 2026 and be completed by 2029. APM will operate the terminal for 30 years, sharing profits with Bangladesh on a per-container (TEU) basis. After the concession period, the government will review key performance indicators (KPIs) to decide whether to retain the operator or assign it to another entity. The project is expected to create 500–700 jobs locally, with opportunities for Bangladeshis to work at APM’s other global terminals. “APM is not investing purely for commercial purposes; their interest in Bangladesh also stems from a broader social commitment,” Ashik said. Once gets operational, he said, the Laldia Terminal will boost the country’s cargo handling capacity by 40%. The National Board of Revenue (NBR) has already been provided with a roadmap to prepare for the increased trade flow. To manage higher transport demand, the Roads and Highways Department has prepared a master plan to balance container movement — with 70–80% via road and the rest distributed between river and rail routes. The government is also working to fully activate the Pangaon Inland Container Terminal. Ashik said the landmark European investment has been discussed with political parties, all of whom have responded positively. Once launched, the Laldia Container Terminal will operate 24/7, and Bangladesh’s overall port capacity is expected to grow sixfold within a decade, he added.    

Foreign ministers from the Group of Seven (G7) industrialized nations are meeting in southern Ontario this week as trade and defense tensions escalate between the United States and its traditional allies, including Canada, alongside growing uncertainty over U.S. President Donald Trump’s Gaza ceasefire plan and efforts to end the Russia-Ukraine war. Canadian Foreign Minister Anita Anand, who is hosting the meeting of G7 counterparts from the U.S., Britain, France, Germany, Italy and Japan, told The Associated Press that maintaining cooperation “across a range of issues” remains essential despite trade pressures. “We’re tackling a range of critical issues with one main focus: putting the safety and security of Americans FIRST,” U.S. Secretary of State Marco Rubio said in a social media post ahead of the talks. Anand also invited top diplomats from Australia, Brazil, India, Saudi Arabia, Mexico, South Korea, South Africa and Ukraine to join portions of the two-day meeting. Key agenda items include promoting long-term peace and stability in the Middle East and reaffirming commitment to Trump’s proposed Gaza ceasefire plan. On Wednesday morning, the ministers are scheduled to meet with Ukraine’s foreign minister. The U.K. announced ahead of the talks that it would contribute 13 million pounds ($17 million) to help repair Ukraine’s energy infrastructure ahead of winter. The funds will support power, heating and water system repairs, as well as humanitarian assistance. “President Putin is trying to plunge Ukraine into darkness and cold,” U.K. Foreign Secretary Yvette Cooper said, adding that Britain’s aid aims to “keep the lights and heat on.” Canada has made a similar pledge in recent weeks. SoftBank sells Nvidia stake for $5.8 billion to boost investments in OpenAI Canada’s tenure as G7 host this year has been overshadowed by strained relations with Washington, largely due to Trump’s tariffs on Canadian imports and renewed friction over defense spending demands. Trump has pressed NATO allies — all G7 members except Japan — to spend 5% of GDP on defense. While some have agreed, others, including Canada and Italy, remain far below that benchmark. Anand said Canada plans to reach the target by 2035. Differences within the G7 also persist over the Israel-Hamas war, with Britain, France and Canada supporting recognition of a Palestinian state, even without a peace deal. Meanwhile, several allies have taken a harder stance on Moscow’s aggression in Ukraine than Trump has. The meeting near the U.S. border follows Trump’s abrupt suspension of trade talks with Canada after Ontario’s provincial government ran an anti-tariff ad campaign in the U.S. Prime Minister Mark Carney has since apologized and expressed readiness to resume negotiations. Anand said she will meet separately with Secretary Rubio to discuss bilateral and global issues, though trade matters fall under a different U.S. official’s purview. “Every complex relationship has numerous touch points,” she said. “There’s continued work to be done — both on trade and beyond — and that’s where Secretary Rubio and I come in.” China’s exports dip 1.1% in October as shipments to US plunge 25% U.S. officials said Rubio will focus on halting the wars in Gaza and Ukraine, as well as maritime security, Haiti, Sudan, and cooperation on critical minerals. Canada’s priorities include Arctic security, the Ukraine war, and Haiti. A working lunch will center on energy and the supply of critical minerals vital to modern technologies and defense industries — a key area of U.S.-Canada cooperation. Source: AP 

Japanese technology conglomerate SoftBank said Tuesday it has sold its shares in U.S. chipmaker Nvidia for $5.8 billion, signaling a strategic shift toward investing more heavily in OpenAI, the developer of ChatGPT. SoftBank Group Corp., based in Tokyo, said the Nvidia stake was sold in October. The move comes as the company’s net profit nearly tripled in the first half of the current fiscal year compared with the same period a year earlier. Between April and September, SoftBank’s profit surged to about 2.5 trillion yen (approximately $13 billion), while revenue rose 7.7% year-on-year to 3.7 trillion yen ($24 billion). SoftBank’s earnings often fluctuate because of its wide-ranging investments through its Vision Funds, which have recently performed well. In February, SoftBank Chairman Masayoshi Son joined U.S. President Donald Trump, OpenAI CEO Sam Altman, and Oracle co-founder Larry Ellison to announce plans for a major artificial intelligence initiative called Stargate, which could see investments of up to $500 billion. SoftBank has already poured tens of billions of dollars into OpenAI and is partnering with the U.S.-based firm to expand AI services in Japan. The sale of its Nvidia shares marks Son’s strategic pivot toward artificial intelligence and also generated substantial gains for the company, benefiting from Nvidia’s meteoric rise in market value. Japan and China trade sharp words after PM Takaichi’s comments on Taiwan Nvidia recently became the world’s first $5 trillion company—just three months after hitting the $4 trillion mark—and has pledged to invest $100 billion in OpenAI to build massive new AI data centers with at least 10 gigawatts of computing capacity. While Nvidia and other AI-related firms have fueled this year’s stock market rally, some analysts warn that tech valuations may be overheating, drawing parallels to the early 2000s dot-com bubble. Despite the divestment, SoftBank and Nvidia maintain close ties, as many SoftBank-backed ventures use Nvidia’s technology. SoftBank also holds stakes in chipmakers Arm Holdings and Taiwan Semiconductor Manufacturing Co., both benefiting from the growing global demand for AI technologies. SoftBank shares have nearly doubled in value over the past year, rising another 2% on Tuesday. Nvidia’s stock dipped 1.3% in premarket trading after gaining 5.8% on Monday. Source: AP