United News of Bangladesh

The Bangladesh Furniture Shilpa Malik Samity (BFSMS) will hold the five-day 21st National Furniture Fair 2026 at the International Convention City Bashundhara (ICCB) in Dhaka, starting on 27 October.  The organizers informed the media on the fair at an online press conference on Monday. The fair is organized every year to promote the growth of the domestic furniture industry and expand its export markets, and it is regarded as the largest event of the country’s furniture sector. The fair will run from Tuesday, 27 October, to Saturday, 31 October, across Hall 2 (Pushpoguchcho), Hall 3 (Rajdarshan) and Hall 4 (Nobaratri) of ICCB. A total of 44 leading furniture companies will display their products and designs in 323 stalls.  Visitors will be able to see and buy the latest furniture from well-known brands including Akhtar, Hatil, Brothers, Nadia, Ayoto, Omega, JMG, Navana, Athenus, Partex, Regal and Legacy, all under one roof.  For younger visitors, a children’s art competition will be held on the opening day. Group A is open to children from pre-primary to Class 4, and Group B to those in Classes 5 to 8. Registration begins at 2:00 PM and the competition starts at 4 pm. Twenty children will receive awards, with total prize money of about Tk 200,000. Speaking about the fair, Alhaj Sheikh Abdul Awal, Convener of the Organizing Committee and Vice Chairman of BFSMS, said, "This fair is entirely focused on domestic consumers. Only locally made furniture will be on display, and there will be no imported furniture. The participating companies are coming with new designs, and this is a great opportunity for furniture manufacturers to show the country their latest design innovations. To boost sales, visitors will get discounts of up to 15 percent." The opening ceremony will begin at 10:30 AM on Tuesday, 27 October, in Hall 4 (Nobaratri). Mohammad Hasan Arif, Vice Chairman and Chief Executive Officer of the Export Promotion Bureau (EPB), will attend as chief guest. Md. Fazlul Haque, Administrator of FBCCI, and Dr. K M Akhtaruzzaman, President of the Bangladesh Furniture Exporters Association, will attend as special guests. The ceremony will be chaired by Selim H. Rahman, Chairman of BFSMS. Md. Elias Sarker, Senior Vice Chairman, A. Karim Mazumder, Secretary General, and Mohammad Maksudur Rahman, Organizing Secretary of BFSMS, will also speak.  At 11:30 AM, the chief guest will formally declare the fair open.The fair will be open to visitors every day from 27 to 31 October, from 10 am  to 9 am at ICCB.  Entry is free and no ticket is required. 

Prime Minister’s Adviser on Finance and Planning Rashed Al Mahmud Titumir  on Monday said that the ongoing Middle East crisis has created mounting pressure on the energy sector of Bangladesh, resulting in an additional expenditure of $4.12 billion over the past eight months. Despite these fiscal pressures, the government has initiated steps to develop the Matarbari area into a regional energy hub, the adviser said. He made the remarks while speaking at an event as the chief guest at BGMEA Complex in Dhaka where the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) launched a new platform designed to monitor environmental, social, and governance (ESG) practices and enhance compliance capacity in readymade garment (RMG) factories. Titumir said relying solely on low-cost products is no longer sufficient to survive in global competition. Adhering to environmental standards is imperative for future generations, he added. Highlighting the government's reform agenda to improve the investment climate, the adviser stressed the importance of policy consistency in boosting investments, noting that efforts are underway to ensure a five-year predictable framework for tax policies. Policy Exchange Bangladesh Chairman and CEO M. Masrur Reaz, Brac Institute of Governance and Development (BIGD) Research Director Munshi Sulaiman, and Danish Ambassador to Bangladesh Christian Brix Møller attended the event as special guests. Addressing the export market dynamics, M. Masrur Reaz pointed out that 70 percent of European buyers and 73 percent of US buyers prefer engaging with eco-friendly businesses, frequently demanding transparency on carbon footprints during production. Observing that countries like Vietnam and India have already advanced in similar initiatives, Reaz stressed that Environmental, social, and governance ESG compliance has become an indispensable component of global market competitiveness. Danish Ambassador Christian Brix Møller remarked that such proactive transparency and sustainability initiatives will significantly strengthen the manufacturing sector’s competitive edge. BGMEA President Mahmud Hasan Khan announced that the association intends to make ESG compliance mandatory for all member factories, adding that discussions will be held with BKMEA on the matter. He also noted that any potential extension of Bangladesh's Least Developed Country (LDC) graduation timeline would provide critical breathing room to accelerate such preparatory transitions.

China's economy grew 4.5% in the July-September quarter from a year earlier, supported by strong exports, bringing the country closer to its annual growth target even as domestic demand remained weak and trading partners stepped up pressure to address trade imbalances. The latest official growth figure, released on Monday, marked an acceleration from the 4.3% expansion recorded in the April-June quarter, which was the slowest in more than three years. Chinese leaders have set an economic growth target of 4.5%-5% for the full year, down from 5% growth last year. Earlier this month, the International Monetary Fund lowered its forecast for China's economic growth in 2026 to 4.5%, matching the lower end of Beijing's target. Strong exports support growth amid domestic weakness The headline growth figure is becoming "an increasingly poor indicator of how the broader economy is performing," said Max Zenglein, Asia Pacific senior economist at The Conference Board. He said the figure masks "widening disparities across industries, regions, and households". Beijing faces difficult policy choices, and addressing domestic economic imbalances could prove more challenging than managing external pressures, he added. China's domestic demand has weakened amid a prolonged downturn in the property market, which has eroded household wealth and encouraged people to save more. However, strong exports remain one of the economy's few bright spots. China is on course to exceed last year's record global trade surplus of $1.2 trillion after exports rose 36% in September. The country had already recorded a trade surplus of $938 billion in the January-September period. High US tariffs have affected some bilateral trade between Washington and Beijing, prompting China to seek alternative markets in Southeast Asia, Latin America and Europe. High-tech products, including semiconductors, as well as automobiles, particularly hybrid and electric vehicles, have been among the key drivers of export growth this year. As China seeks greater self-sufficiency to protect itself from Western export controls and trade uncertainty, it has expanded domestic manufacturing capacity across industries such as solar energy and electric vehicles, with substantial government subsidies supporting production. However, production capacity has grown rapidly amid weak domestic consumption, prompting manufacturers to sell more goods overseas at competitive prices. An export-dependent, technology-driven growth model has generated limited job creation and broad income gains, while the risk of artificial intelligence-driven job displacement continues to increase, said Ecaterina Bigos, senior market strategist at BNP Paribas Asset Management. EU steps up pressure over trade imbalance with China Many of China's trading partners are increasingly concerned that a surge in lower-cost Chinese manufactured goods threatens their domestic industries and economies. "It is untenable and unsustainable for the world's second largest economy to rely on foreign demand to prop up its own growth," said Eswar Prasad, a professor of economics and trade policy at Cornell University. Through its persistent and substantial trade surpluses, China "has become a drag on world growth rather than an engine that pulls the rest of the world along," he said. The European Union is among the trading partners seeking to reduce its trade imbalance with China. The 27-member bloc runs a trade deficit with China of more than $1.1 billion a day. Chinese exports to the EU increased 16% in the first nine months of the year. EU countries are considering further restrictions on Chinese products after the bloc reached an agreement with Beijing this month aimed at roughly halving the number of Chinese hybrid vehicle imports over the next few years. China wants to maintain access to foreign markets and can work with other countries to resolve trade disputes, said Gary Ng, a senior economist for Asia Pacific at French bank Natixis. He said the agreement with the EU on hybrid cars could allow China to continue increasing sales of Chinese-made products in European markets over the longer term while avoiding a broad increase in tariffs. However, trade imbalances are unlikely to be resolved quickly, said Lynn Song, chief economist for Greater China at Dutch bank ING. Policymakers have also argued that an undervalued yuan against the US dollar and the euro has contributed to China's growing trade surplus, although the country's central bank has rejected the claims. "We are likely to see continued resistance, rising protectionism, and persistent pressure from economies globally to protect their industries, and jobs, notably in high value sectors," Bigos said. Beijing has maintained that China does not seek a large trade surplus. On Friday, Chinese central bank Governor Pan Gongsheng said countries running trade deficits and those recording surpluses should work together. He also said China, as a responsible country, remained committed to expanding domestic demand.

Bangladesh’s inward remittances maintained a robust upward trend, recording a 13.3 percent growth during the first 17 days of October compared to the corresponding period of the previous fiscal year, according to Bangladesh Bank data. Data released by the central bank shows that expatriate workers remitted $1.74 billion between October 1 and October 17, 2026, up from $1.53 billion recorded during the same period in October 2025. On a single-day count, the country received $117 million in remittances on October 17 alone. Meanwhile, the cumulative remittance inflow for the current fiscal year FY 2026–27 from July 1 through October 17, 2026, touched $10.33 billion. This marks a 13.3 percent year-on-year growth compared to $9.12 billion recorded during the corresponding period of the previous fiscal year (July to October 17, 2025). Banking sector analysts attribute the steady growth in remittance inflows to growing reliance on formal banking channels by expatriate workers, alongside stable foreign exchange market conditions.

Bangladesh Bank has disbursed a total of Tk 14,519.79 crore across various stimulus and refinancing schemes as of October 15, 2026, out of the total Tk 60,000 crore allocations. According to the latest central bank update on the progress of 15 specialized stimulus packages, an additional Tk 2,559.97 crore remains under active processing. A breakdown of the central bank data reveals key sectoral distributions: Pre-Shipment Credit Refinancing Scheme:  Recorded the highest disbursement volume, with Tk 6,917 crore distributed out of its Tk 5,000 crore allocation (reflecting revolving or extended utilization capacity). Cottage and Micro Enterprise Special Scheme: Disbursed Tk 2,500 crore out of its Tk 5,000 crore fund. Creative Economy Scheme: Out of a substantial Tk 20,000 crore allocation, Tk 1,490.43 crore has been disbursed, while another Tk 500 crore is currently under process. CMSME Working Capital Refinancing Fund: Distributed Tk 907.73 crore against a Tk 5,000 crore pool. Agricultural Production, Food Security, and Rural Employment Scheme: Disbursed Tk 292.90 crore out of Tk 10,000 crore. Employment Generation for Unemployed Youth: Has Tk 1,000 crore completely under processing out of its Tk 1,000 crore allocations. Green Factory Building and Green Industries Scheme: Has Tk 527.47 crore under processing out of a Tk 1,000 crore fund.   Export Diversification Scheme & Frozen Shrimp/Fish Export Schemes: Currently show zero disbursement, with respective allocations of Tk 3,000 crore and Tk 2,000 crore. Other Initiatives: Included smaller disbursements or processing pipelines for foreign employment creation ($200 crore disbursed), northern Bangladesh agro-processing ($48.67 crore disbursed), startup financing ($37.59 crore total via disbursement and processing), and leather and footwear export financing ($98 crore under process). Overall, the comprehensive package aims to stimulate industrial output, bolster rural economic activity, support CMSMEs, and drive export-oriented growth across multiple sectors.

The Bangladesh Bank (BB) has received a total of 18,444 applications from 64 upazilas across eight districts under the primary activation phase of its nationwide youth entrepreneurship program, titled "UDYOG" (Upazila-based Youth Entrepreneur Identification, Selection, and Financing Program). Following the initial response, the central bank announced that the program will expand to all upazilas across the remaining 56 districts starting November 1, 2026. The initiative aims to identify, select, and fund potential young entrepreneurs at the upazila level to foster innovation and drive employment generation throughout the country. During the activation phase—which ran from September 16 to October 15, 2026—aspiring entrepreneurs submitted their applications to designated scheduled bank branches in eight selected districts representing eight divisions: Manikganj, Feni, Naogaon, Jhenaidah, Bhola, Habiganj, Rangpur, and Netrokona. According to initial data released by the central bank, Netrokona received the highest number of applications at 5,351, followed by Rangpur with 2,745, Naogaon with 2,456, Jhenaidah with 2,191, Habiganj with 1,552, Bhola with 1,545, Manikganj with 1,343, and Feni with 1,261. Under the next phase, interested young entrepreneurs from all upazilas of the remaining 56 districts can submit their completed application forms to any scheduled bank branch located within their respective upazilas from November 1 to November 30, 2026. Application forms can be downloaded from the official website of Bangladesh Bank, its SME portal, or the respective websites of scheduled commercial banks. The guidelines for the "UDYOG" program were issued on September 13, 2026, through SMESPD Circular No. 05, and remain available on the Bangladesh Bank website (www.bb.org.bd) and SME portal (www.bb.org.bd/smespd_portal). Bangladesh Bank has sought active cooperation from all stakeholders to ensure the successful execution of the program, highlighting its potential to accelerate economic growth and foster a vibrant entrepreneurship ecosystem.

Bangladesh Bank has issued a comprehensive, unified circular consolidating existing rules and regulations regarding the issuance and renewal of licenses for foreign exchange and gold businesses. The updated directive covers licensing guidelines for Authorized Dealers (ADs), money changers, limited money changers, Authorized Gold Dealers (AGDs), and importers of gold ore and dore. The circular released on Saturday (October 17), encompasses a wide range of regulatory parameters—spanning from initial licensing and renewals to foreign exchange transactions, gold import and export, anti-money laundering (AML), combating the financing of terrorism (CFT), and ongoing regulatory oversight. According to the central bank, gathering previously dispersed instructions into a single updated reference document is intended to simplify compliance, making it easier for relevant institutions to understand regulations and conduct their day-to-day operations smoothly. Under the new guidelines, when a decision is made to issue new licenses, Authorized Dealer (AD) banks can process license applications on behalf of clients for money changers and authorized gold dealers before submitting them to Bangladesh Bank. Divided into six distinct sections, the circular outlines-Procedures for license issuance and renewal, foreign exchange transaction protocols, gold import and export regulations, Compliance with Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) standards, Submission procedures for periodic reports, Bangladesh Bank's authority regarding institutional inspections and license cancellations. The circular will remain effective for one year from the date of issuance, during which previously issued instructions on the subject will be considered superseded. However, any subsequent instructions or amendments issued hereafter must be read in conjunction with this circular. Banking sector insiders believe that housing all scattered directives under one umbrella will improve regulatory clarity, ease adherence to compliance standards, and facilitate smoother administrative workflows for commercial banks and other licensed entities.

The Bangladesh Export Processing Zones Authority (BEPZA) hosted a 'Meet the Investors' event in Chattogram on Saturday, bringing together over a hundred local and foreign investors to foster closer communication, strengthen cooperation, and address industrial operational challenges. Under the motto "Dialogue, Partnership, and Shared Growth," this marked BEPZA’s second investor interaction event of the year, following a similar gathering held in Dhaka on October 10. Speaking at the program as the chief guest, BEPZA Executive Chairman Major General Mohammad Moazzem Hossain praised the business community for keeping the economy thriving through resilience, optimism, and innovation despite global geopolitical disruptions, energy market volatility, and infrastructure hurdles. "Your stubborn optimism, unflinching courage, brilliance, and decency have kept this economy alive. We are proud of you," the Executive Chairman said, while also commending the exceptional craftsmanship of workers in producing diversified, world-class products ranging from high-end apparel and Nordic bridal gowns to NATO military logistics. Highlighting BEPZA's recent operational milestones, Major General Moazzem Hossain noted that the authority signed investment agreements with 36 new enterprises during the 2025–26 fiscal year. In the same period, total exports from BEPZA-managed zones reached US$ 8.41 billion, registering a 2.22 percent increase compared to the previous fiscal year. He also pointed to the declaration of BEPZA Economic Zone-1, BEPZA Economic Zone-2, Jashore EPZ, and Patuakhali EPZ as full-fledged operating zones as a major achievement of the year. During the event, Member (Investment Promotion) Md. Tanvir Hossain delivered a presentation outlining the authority's key progress in FY 2025–26, emphasizing investment attraction, export growth, employment generation, and policy improvements. He highlighted that BEPZA has successfully attracted US$ 3 million in investment per acre of land while generating an annual return of BDT 13.82 crore per acre through optimal resource utilization. Additionally, BEPZA's Additional Executive Director (Enterprise Services & Industrial Relations) Md. Nazmul Islam Bhuiyan spoke on worker welfare initiatives, labor law reforms aligned with international standards, and digital transformation efforts, including the rollout of 45 online services and a 24/7 helpline (16128). The event concluded with an open discussion session where senior BEPZA officials and investors exchanged views on operational expansion, resolving industrial bottlenecks, and upholding international labor standards under the Bangladesh EPZ Labour Act, 2019. Since its inception in 1980, BEPZA has played a pivotal role in Bangladesh’s export-oriented industrialization. Operating eight EPZs and two Economic Zones, it has attracted approximately US$ 7.50 billion in cumulative investments from 38 countries, generating around US$ 130 billion in exports—accounting for roughly 20 percent of the national export total and nearly 19.17 percent of total FDI in Bangladesh.

Asian stocks mostly rose on Friday, recovering from a technology-driven sell-off a day earlier, while Indonesian shares plunged after global index provider MSCI warned it could downgrade the country’s market status. MSCI said Indonesia’s continued classification as an “emerging market” would “no longer be appropriate,” raising concerns about potential capital outflows. US stock futures edged higher after Federal Reserve Chair Kevin Warsh said artificial intelligence could deliver substantial benefits to the US and global economies. South Korea’s benchmark Kospi surged 3.6% after dropping 7.6% on Thursday. Samsung Electronics gained 4.2%, while SK Hynix rose 3.5%. Japan’s Nikkei 225 climbed 1.9% to 65,658.59 after losing 4.9% the previous day. SoftBank Group advanced 1.7%, Tokyo Electron rose 2.8% and Kioxia Holdings gained 3.2%. Technology shares across Asia recovered as losses in US artificial intelligence stocks eased. Speaking at the IMF and World Bank meetings in Bangkok, Warsh described AI as one of the most consequential changes to the US and global economies during his lifetime, saying the technology could generate significant economic benefits. Taiwan’s Taiex gained 0.6%, although shares of Taiwan Semiconductor Manufacturing Co. (TSMC) fell 0.4% despite the company reporting record quarterly profits on Thursday and saying demand for AI remained strong. Indonesia’s Jakarta Composite index plunged more than 10%, reaching its lowest level in years following MSCI’s warning. Hong Kong’s Hang Seng rose 1.2% to 24,353.69, while Shanghai’s Composite index gained 1% to 3,742.66. Australia’s S&P/ASX 200 advanced 1.1% to 8,812.90, and India’s Sensex edged up 0.2%. On Wall Street on Thursday, the S&P 500 gained 0.3%, the Dow Jones Industrial Average rose 1.1% and the Nasdaq Composite added 0.1%. AI and chip stocks showed mixed performances. AI cloud provider CoreWeave, which fell as much as 9.5% early in the session, recovered to finish 5.9% higher. Nvidia ended 1.8% lower after falling as much as 3.8% earlier. Broadcom lost 0.6%, while Advanced Micro Devices declined 1.5%. Oil prices steadied but remained elevated as global supplies faced pressure amid the absence of a deal between the US and Iran to end their war. The International Energy Agency said on Thursday that its members had agreed to release the remaining roughly 100 million barrels covered by their March pledge in a timely manner. The total release is expected to exceed the initially planned 400 million barrels. Brent crude, the international benchmark, fell 0.4% to $105.46 a barrel, still well above the roughly $72 level recorded in late February before the war began. ING commodities strategists Warren Patterson and Ewa Manthey said in a commentary on Friday that uncertainty over the Middle East and concerns about oil shipments through the Strait of Hormuz had left the market pricing in a substantial risk premium. The US dollar slipped to 157.83 Japanese yen from 158 yen, while the euro rose to $1.1228 from $1.1220.

Commerce Minister Khandakar Abdul Muktadir has called for eco-friendly production, workers’ rights protection and digital traceability from production to export to strengthen Bangladesh’s position in the international premium shrimp market. Although Bangladesh has more land under shrimp cultivation than neighbouring India, it lags behind in exports, he said, stressing the need to improve productivity and quality while ensuring responsible business practices at every stage of the supply chain. The minister made the remarks while speaking as the chief guest at a high-level dialogue on the shrimp sector at a city hotel on Thursday evening. The dialogue was jointly organised by the International Labour Organization (ILO), the Monterey Bay Aquarium (MBA) and TotalFood Processing (Pvt) Ltd, a member company of the Bangladesh Frozen Foods Exporters Association (BFFEA). Highlighting the shrimp sector’s potential to diversify exports, Muktadir said Bangladesh’s exports of frozen fish and shrimp rose 19 percent last year to nearly $300 million. However, he said the sector has much greater potential for growth. India exported more than $5 billion worth of shrimp in 2024-25. Despite having around 42 percent more land under shrimp cultivation than India, Bangladesh remains behind in exports, a gap the minister said should be viewed as a major opportunity to improve productivity and quality. Emphasising transparency in production to expand access to international markets, he said buyers now assess not only product quality but also who produces the goods, workers’ working conditions and whether production meets environmental standards. Muktadir said Bangladesh needs to move beyond paper-based documentation and establish an integrated and transparent digital traceability system. He said the Ministry of Commerce has already formed a Responsible Business Conduct Cell. “Work is also underway to formulate a national policy on responsible business conduct, including labour rights, and a traceability strategy.” Describing the European Union as Bangladesh’s largest market for shrimp, the minister said the government is committed to various reforms to deepen bilateral trade relations, including through a free trade agreement (FTA). Highlighting the shrimp industry’s importance to coastal livelihoods and the economy, he said ensuring the fair rights and protection of everyone involved in the supply chain, including farmers, depot workers, processing plant workers and exporters, was a government priority. Michal Krejza, head of the Development Cooperation unit at the Delegation of the European Union to Bangladesh, spoke as a special guest, while ILO Bangladesh Country Director Max Tunon delivered the closing remarks. Speakers said coordinated efforts by the government, development partners and the private sector could play an important role in establishing Bangladeshi shrimp as a responsible, eco-friendly and sustainable premium brand in international markets.