United News of Bangladesh

Global oil prices surged by more than 2 percent on Thursday following a drone attack on the Shaybah oil field operated by Saudi Arabia's state-owned oil company, Aramco, heightening concerns over potential disruptions to international energy supplies. International benchmark Brent crude climbed 2.4 percent to reach $111.40 per barrel. Meanwhile, the USA benchmark West Texas Intermediate (WTI) rose 2.22 percent to stand at $99.30 per barrel, according to figures recorded at 6:00am GMT on Thursday. The attack in Saudi Arabia resulted in two fatalities, casting fresh anxiety over the security of energy infrastructure in the Middle East. According to reports from Anadolu Agency, oil prices rebounded following early-day losses in the wake of the incident. Concurrently, extensive drone strikes launched by Ukraine targeting Russian oil infrastructure this week have further compounded uncertainties regarding future energy supplies. Market analysts note, however, that the upward momentum in oil prices could be curbed as crude shipments from the Middle East continue to rise, with regional exports nearing pre-war levels. Saudi Arabia's crude oil exports grew by 7.9 percent in August, marking their highest level since March. Additionally, Russia's first diesel shipment of the cycle was slated to reach the United States on Thursday.

The Bangladesh Jeweller’s Association (BAJUS) on Thursday said an allegation against an individual should not be allowed to cast the entire jewellery sector in a negative light. It urged all concerned to play a responsible role in media coverage of the arrest of Diamond World Ltd Managing Director and former BAJUS General Secretary Dilip Kumar Agarwala. In a statement signed by its President Enamul Haque Khan, the association said it was aware of the arrest of Dilip Agarwala. "BAJUS always stands against injustice and irregularities and does not support any unethical activity," the statement said. "However, it is not appropriate to indiscriminately subject the whole jewellery sector to negative propaganda because of any allegation." The association said the jewellery sector has been making a significant contribution to the economy, revenue collection and employment generation. Around 40,000 traders and 28 lakh people are directly and indirectly involved in the sector. BAJUS said the elected government has taken various initiatives since assuming office to bring the sector under a disciplined, modern and institutional framework. It said it has been working for the past eight months in coordination with the relevant ministries and departments to modernise and amend the Gold Policy 2018 (amended in 2021), and to keep policy initiatives on track. "If the normal business activities of this sector are disrupted, legal trade will shrink and various government revenue collection may be affected," the statement said. It warned that millions of people could lose their jobs, and part of the domestic market could shift overseas, leading to capital flight. "We do not want the progress of a promising industry to be hindered because of any incident or allegation," BAJUS added. Describing Diamond World Ltd as a business organisation which provides the employment and livelihoods to many people, it said due importance must be given to ensure that innocent officials, employees and their families are not unduly harmed because of allegations against an individual. BAJUS said it believes the positive progress of the jewellery sector will continue through the rule of law, justice, a responsible media environment and the cooperation of all concerned. "In the interest of developing the country's gold and diamond industry, expanding legal trade, creating employment and increasing national revenue, we expect a responsible and positive role from all concerned," the statement said.

Asian shares and US stock futures declined on Thursday following a rally on Wall Street, where stronger-than-expected earnings from SpaceX, Capital One Financial and other major companies lifted stocks. Japan's Nikkei 225 fell 1.6% to 63,595.58, led by heavy selling of major technology stocks. SoftBank Group dropped 5.6%, while Tokyo Electron declined 5.9% and Advantest lost 5%. South Korea's Kospi index slipped 2.6% to 5,586.89, as major memory chipmakers came under pressure. Samsung Electronics fell 3.9%, while SK Hynix dropped 4.7%. Technology stocks linked to artificial intelligence (AI) have faced selling pressure amid concerns that rising borrowing costs could slow investment in data centre construction. Hong Kong's Hang Seng Index lost 2.7% to 23,003.17, while the Shanghai Composite Index declined 0.9% to 3,679.86. Taiwan's Taiex fell 0.8%, and Australia's S&P/ASX 200 dropped 0.3% to 8,803.20. On Wednesday, US stocks advanced after several major companies reported better-than-expected earnings. The S&P 500 rose 0.6%, the Dow Jones Industrial Average gained 0.7%, and the Nasdaq Composite climbed 1.1%. SpaceX shares jumped 7.8% after the company reported stronger-than-expected summer profits. Its chief executive, Elon Musk, also said the company had taken a step towards considering a possible merger with Tesla, his electric vehicle maker. Tesla shares gained 3.4%. Capital One Financial rose 2.5%, while Winnebago Industries surged 10.7% after reporting earnings that exceeded analysts' expectations. Investors are closely watching corporate earnings to determine whether companies can sustain their growth despite persistent inflation, high interest rates and other economic challenges. Netflix shares, however, fell 5.3% despite the streaming company's stronger-than-expected profit, as investors expressed concerns about a possible slowdown in its growth. In the bond market, the yield on the 10-year US Treasury note climbed to 5.12%, recovering from an earlier decline. Oil prices also rose on Thursday amid uncertainty over the war involving Iran and its impact on global energy supplies. Brent crude, the international benchmark, gained 1.6% to $110.55 a barrel, while US benchmark crude increased 1.3% to $98.45 a barrel. Brent crude prices have fluctuated between $97 and $112 in recent days as markets assess when the conflict will allow global energy supplies to return to normal. In currency trading, the US dollar fell to 157.69 Japanese yen from 158.14 yen late Wednesday. The euro rose to $1.1248 from $1.1233.

Bangladeshis continue to spend significantly more using cards abroad than foreign nationals spend within Bangladesh, with outbound card transactions outpacing inbound spending by nearly fourfold, according to the latest central bank data. In August, transactions made by Bangladeshis using cards abroad reached approximately Tk 987 crore, a slight increase from Tk 985 crore in July. In contrast, foreign nationals spent about Tk 249 crore using cards inside Bangladesh in August, reflecting a 6.27 percent increase from Tk 234 crore the previous month. The wide gap between the two figures highlights the growing scale of international card-based expenditures by domestic users. According to Bangladesh Bank data, outbound expenditures in August comprised Tk 504.60 crore through credit cards, Tk 422.10 crore via debit cards, and Tk 60.10 crore using prepaid cards. When using credit cards abroad, the United States remained the top destination for Bangladeshis, accounting for 17.16 percent of total foreign credit card transactions. The US was followed by Thailand, the United Kingdom, India, and Singapore. For debit cards, the UK topped the list with 14.19 percent of total transactions, while India accounted for the highest share of prepaid card usage at 18.71 percent. Domestic Credit Card Spending Dips: While spending abroad increased, domestic credit card transactions within the country experienced a decline. Domestic transactions dropped by 5.44 percent, falling from Tk 4,324.80 crore in July to Tk 4,089.30 crore in August. Department stores accounted for the largest share of domestic credit card transactions at 48.14 percent. This was followed by retail outlets at 12.67 percent, utility bill payments at 10.80 percent, pharmacies and drug stores at 6.94 percent, and cash withdrawals at 6.43 percent. Despite the overall dip in domestic credit card turnover, spending in specific categories saw growth; transactions at retail outlets rose from Tk 477.90 crore to Tk 518.30 crore, alongside increases in utility payments, pharmaceuticals, clothing, and transportation sectors. Data from the central bank reveals a substantial surge in plastic money adoption over the past five years. At the end of September 2021, the country had 2.42 crore debit cards, 17.63 lakh credit cards, and 10.27 lakh prepaid cards. By August 2026, those numbers expanded to roughly 4 crore debit cards, 28.05 lakh credit cards, and 92.71 lakh prepaid cards. Overall, the total number of cards surged by 96 percent over five years, while transaction volumes grew by 103 percent, with prepaid cards witnessing the fastest growth rate. By the end of August, the total approved credit limit against credit cards stood at Tk 43,108 crore, with outstanding loans amounting to Tk 14,482 crore. Commenting on the trends, Bangladesh Bank Executive Director and Spokesperson Arif Hossain Khan told the press that the central bank has been implementing various initiatives to discourage cash transactions and promote digital payments. Alongside card usage, ongoing efforts include expanding interoperable digital payment methods such as the Bangla QR code system.

Mobile financial service (MFS) provider bKash has won two international awards at The Money Awards 2026 in recognition of its initiatives to drive small merchant inclusion and expand the cashless transaction ecosystem. The awards were presented at a ceremony, organised by global fintech event and networking platform Money20/20, in Las Vegas, United States, recently, according to a press release issued on Wednesday. bKash received the Gold Award in the Payments- Financial Inclusion category for its efforts to bring small and micro-entrepreneurs from diverse socioeconomic backgrounds into the formal financial system through accessible digital payment solutions. In the top-tier Diamond category, bKash received the Silver Award for developing an interconnected transaction loop between consumers and merchants, facilitating everyday digital payments and contributing to the expansion of cashless transactions in Bangladesh. The Money Awards are judged by an international panel of industry leaders and recognise solutions in the global fintech sector that promote financial inclusion and digital transformation. The awards cover six categories: Early Stage Startup, Growth Stage Startup, Banking, Payments, Partnerships & Strategic Alliance, and Diamond. In the inaugural edition in 2025, JPMorgan Payments, Ant Group and Mynt were among the winners.

Chinese-owned SBS Zipper Bangladesh Co Ltd has started commercial operations at the BEPZA Economic Zone-01 in Mirsharai, Chattogram, with plans to employ more than 2,000 local people once its factory reaches full capacity. The company formally inaugurated its operations on Tuesday, having invested US$15.51 million against a proposed investment of US$19.97 million, according to a press release. The factory, established on six industrial plots, manufactures various types of zippers, zipper components, plastic buttons and related accessories. It currently employs 140 Bangladeshi workers. The company expects to expand its workforce to over 2,000 as operations reach full scale. The inauguration ceremony was attended by the SBS Zipper Group chairman, international buyers, senior company officials and other guests. Abdullah Al Mahbub, executive director of BEPZA Economic Zone-01, attended the ceremony and congratulated the company on the launch of commercial production.  

Invest Bangladesh Chairman Ashik Chowdhury has urged major Chinese financial institutions to set up local banking operations in Bangladesh to provide direct trade finance, capital solutions, and long-term investment support for expanding bilateral trade and industrial partnerships. The call was made during "Bangladesh Day," organized jointly by the Export-Import Bank of China (China Exim Bank) and Invest Bangladesh at the bank’s headquarters in Beijing on Tuesday. The high-level event brought together representatives from 11 leading Chinese financial institutions—including three of the world’s four largest banks by assets: Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China, and Bank of China—alongside executives from 26 major Chinese corporate firms across infrastructure, power, ICT, environmental solutions, consumer electronics, and agri-tech. Addressing the forum as chief guest, Invest Bangladesh Chairman Ashik Chowdhury highlighted financial connectivity as the crucial next frontier of bilateral cooperation. "The next frontier of Bangladesh–China cooperation is financial connectivity. Chinese enterprises investing in Bangladesh need efficient trade finance, equipment financing, working capital solutions, and long-term investment support," Chowdhury said. "Our bilateral trade volume also suggests the same. Bangladeshi enterprises need access to technology and productive partnerships. A stronger presence of Chinese financial institutions could serve both sides and make investment decisions easier to execute," he added. Delivering a joint keynote presentation titled “The Next Frontier — Bangladesh–China Financial Connectivity,” Bangladesh Bank and Invest Bangladesh pointed out that bilateral trade between the two nations reached $19 billion in FY2025. However, despite this substantial volume, Bangladesh currently has no locally operating Chinese bank—unlike peer markets such as Cambodia, Sri Lanka, and Myanmar, which feature established Chinese financial footprints. The presentation outlined priority investment sectors in Bangladesh, focusing on specialized hubs such as the Chinese Economic and Industrial Zone (CEIZ) and the Mongla Economic Zone, detailing the growth opportunities available for Chinese enterprises and their supporting lenders. Wang Kang, Vice President of China Exim Bank, reaffirmed the institution’s commitment as a policy bank supporting international trade and investment. "We currently have nearly 40 projects in Bangladesh, spanning infrastructure, energy, agriculture, processing, and manufacturing," Wang stated. "We will also encourage more leading Chinese enterprises to invest directly in priority sectors such as textiles and healthcare, ensuring that finance continues to support the development of Bangladesh’s real economy." The event, which was also addressed by H.E. Md. Nazmul Islam, Ambassador of Bangladesh to China, featured dedicated sessions on bilateral trade financing and concluded with networking discussions on potential corporate partnerships.

The government has terminated the remaining terms of the contractual appointments of the managing directors and chief executive officers of three state-owned commercial banks – Sonali, Janata and Rupali. The Financial Institutions Division (FID) of the Ministry of Finance issued separate letters on Monday, conveying the decision to the chairmen of the respective bank boards. The three top officials affected by the government decision are Md Shawkat Ali Khan, MD and CEO of Sonali Bank PLC; Md Mazibur Rahman, MD and CEO of Janata Bank PLC; and Kazi Md Wahidul Islam, MD of Rupali Bank PLC. According to the letter issued regarding Sonali Bank, the government has provided its recommendation and consent to cancel the remaining duration of Shawkat's contractual service. The bank's Board of Directors has been requested to take necessary legal and administrative steps in line with the Bank Company Act and the terms of the employment contract. Identical letters were dispatched regarding Mazibur and Wahidul, confirming government approval for the cancellation of their remaining contractual terms. Following the government's consent, the respective bank boards will now complete the requisite legal and operational formalities to execute the terminations in accordance with existing regulations and contract clauses.

The Bangladesh Securities and Exchange Commission (BSEC) Monday said a photo card circulating on social media, carrying purported remarks by its chairman about a fall in the stock market, is false and misleading. In a press release issued Monday, the regulator said the matter had come to its notice that a photo card containing statements about the capital market downturn was being spread online in the name of BSEC Chairman Masud Khan, along with various false and misleading claims. "The commission clearly states that the statements in the photo card circulated in the chairman's name are not correct, and the chairman has made no such remarks," the press release said. The BSEC urged the public and investors not to believe or share any statement, photo card or information on social media without verifying its authenticity. It said everyone has a responsibility to refrain from spreading rumours, false, misleading or baseless information, in order to maintain normal market activities, protect investors' interests and preserve public confidence in the capital market. Such information can create misconceptions about the market and negatively influence investors' decisions, it added. The commission also asked all concerned to verify the authenticity and reliability of any statement, photo card or information circulated in the name of the BSEC chairman, commissioners, officials or other related persons before spreading it, and to refrain from circulating false and misleading information. The BSEC said it remains committed to the development, transparency and stability of the capital market and to safeguarding investors' interests, and called on investors and all stakeholders to act responsibly and cooperate to that end.

All banks and financial institutions, as well as the country’s twin stock exchanges—the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE)—will remain closed for five consecutive days due to the Sharadiya Durga Puja holidays. According to a notification issued by Bangladesh Bank, the government holiday for Durga Puja spans three days from Tuesday (October 20) through Thursday (October 22). Following this, regular weekend holidays on Friday (October 23) and Saturday (October 24) will extend the shutdown to five straight days. To compensate for the holiday cluster, commercial banks and financial institutions remained open last Saturday (October 17) as a regular working day, operating under standard business hours following central bank instructions. Since capital market trading is closely tied to banking operations, trading on both the DSE and CSE will also remain suspended throughout the five-day closure. Despite the general holiday, limited banking services will remain operational in port and customs areas to maintain continuous import and export activities. Bangladesh Bank has directed branch offices and booths located at sea, land, and airports to keep essential services running. In this regard, relevant banks have been instructed to coordinate with local administrations, port authorities, and customs officials to ensure seamless operations. Earlier on October 7, the Ministry of Public Administration declared a three-day government holiday from October 20 to 22 for Durga Puja, while announcing that offices would remain open on Saturday, October 17.