United News of Bangladesh

For Europe, money is as crucial to Ukraine’s survival as weapons and intelligence. But the EU’s most realistic funding solution relies on accessing billions of dollars in frozen Russian assets — the same assets U.S. President Donald Trump has suggested taking control of. An early draft of Trump’s 28-point peace proposal envisioned a reconstruction fund for Ukraine managed by the U.S., financed by $100 billion in frozen Russian assets and matched by another $100 billion from the European Union — with half of the profits flowing back to Washington. The idea caught European officials off guard, especially after years of internal arguments over what to do with Russia’s immobilized financial reserves. These assets form the backbone of European Commission President Ursula von der Leyen’s strategy to tighten pressure on Moscow and boost support for Ukraine, even as unexplained drone incidents and sabotage make governments across Europe uneasy. “I cannot imagine a future where European taxpayers foot this bill alone,” von der Leyen told lawmakers in Strasbourg on Wednesday, drawing applause. The EU has already committed close to $197 billion to Ukraine since Russia’s invasion in 2022. While countries remain divided on new funding, nearly all agree on tapping Russian assets to meet Kyiv’s projected $153 billion budget and defense needs for 2026–27. Most of those assets — worth about $225 billion — sit at Euroclear, a major financial clearinghouse in Brussels. A plan with perks — for Washington Trump’s assertive style has left many EU officials convinced the U.S. wants a fast settlement that leaves Europe to finance and facilitate it, while the U.S. benefits financially. Analysts describe the initial proposal as a U.S. attempt to seize control of the assets just as Washington and Brussels reopen trade talks. Agathe Demarais of the European Council on Foreign Relations compared the idea to a “signing bonus” for a peace deal leaning heavily in Moscow’s favor. Fabian Zuleeg of the European Policy Centre called the proposed U.S. takeover “outrageous,” though he noted Europeans might still accept it “if that’s the price of a genuinely good agreement.” Following high-level discussions among the U.S., Germany, France, the U.K. and the European Commission, the investment scheme was removed from the latest draft. Russia has already dismissed the new version outright. Kirill Dmitriev emerges as key figure in Russia’s Ukraine peace plan Belgium’s pivotal role Experts say the EU could strengthen its negotiating leverage by moving quickly to claim the frozen assets before Washington intervenes. “If the EU acts first, it may sharply reduce Trump’s appetite for a poor-quality deal,” Demarais argued. Von der Leyen’s Commission wants the EU to take legal ownership of the assets and issue Ukraine a loan to be repaid only if Russia pays war reparations. But much depends on Belgium. Euroclear — where most of the funds are held — is based there, and Belgian Prime Minister Bart De Wever has long refused to approve using the assets as collateral for major Ukraine loans, warning of potential Russian retaliation. “We are a small country, and retaliation could hit us hard,” he said in October. Belgium’s hesitation has also been tied to internal political disputes over high national debt. With a domestic compromise reached last week, EU officials from across the bloc hope De Wever may now soften his stance. After a meeting in Brussels on Wednesday, Sweden’s Foreign Minister Maria Malmer Stenergard stressed urgency: “Time is running out. This is the only realistic financing option that truly matters and the fairest for taxpayers.” EU foreign policy chief Kaja Kallas echoed that sentiment, noting strong support for Belgium. “It would send the clearest message to Moscow that it cannot wait us out. We must act quickly,” she said. EU leaders, including De Wever, will revisit the issue at a Dec. 18 summit in Brussels, where seizing Russia’s frozen assets will be a major topic of debate. Source: AP 

Alibaba Group reported a strong 34% rise in cloud business revenue for the July–September quarter, powered by soaring demand for artificial intelligence technologies. However, the company’s overall performance grew at a slower pace. Total revenue increased only 5% year-on-year to 247.8 billion yuan ($35 billion), while profit tumbled 52% as aggressive price competition in China’s e-commerce and food delivery markets weighed on short-term earnings. Rival JD.com also saw its net profit drop 55% over the same period. Once focused mainly on e-commerce, Alibaba has shifted heavily toward cloud services and AI. Earlier this year, it committed to investing at least 380 billion yuan ($53 billion) over three years to strengthen its AI and cloud infrastructure. CEO Eddie Wu said Tuesday that heavy investments in AI were a major factor behind the cloud division’s rapid growth, which outpaced the 26% increase recorded in the previous quarter. The company noted that AI demand continues to rise sharply and hinted that total AI investment may ultimately exceed its initial 380 billion yuan target. Alibaba also announced Monday that its upgraded AI chatbot, Qwen — pitched as a competitor to OpenAI’s ChatGPT — reached 10 million downloads within a week of its public release. China's Alibaba sees revenue surge on back of artificial intelligence, e-commerce Investor sentiment was positive: Alibaba’s Hong Kong-listed shares rose 2% on Tuesday, while its U.S.-listed shares climbed 2.4% before the New York trading session. The stock has surged more than 90% this year amid confidence in the company’s AI momentum. Across the broader tech sector, Chinese firms have been rapidly advancing in AI, especially since startup DeepSeek disrupted the landscape and challenged U.S. dominance. Recent earnings have varied: Tencent posted a robust 15% revenue increase, while Baidu saw a 7% decline compared with last year. Analysts, meanwhile, continue to warn of a potential AI bubble, though strong results from Nvidia last week provided some reassurance. Source: AP 

After opening on a positive note, the Dhaka Stock Exchange (DSE) closed Tuesday’s session in the red, while the Chittagong Stock Exchange (CSE) managed to maintain its upward momentum. At the DSE, the key index DSEX dropped by 6 points at the end of the day, though the other two indices advanced — the DSES gained 2 points and the DS30 rose by 6 points. Most issues saw price declines, with 227 companies losing value against 129 gainers, while 30 issues remained unchanged. The turnover inched up slightly to Tk 636 crore, compared to Tk 635 crore the previous day. In the block market, shares worth Tk 16 crore were traded across 25 companies, with Simtex Industries PLC alone offloading shares worth Tk 5 crore. Simtex Industries PLC topped the DSE gainers’ list with a 10% price rise, while People’s Leasing and Financial Services Ltd hit the bottom, falling 9%. Meanwhile, the CSE closed higher, with its all-share price index CASPI advancing by 114 points. DSE rebounds; index tops 5,000 after 20-day dip The port-city bourse saw 125 issues gain, 53 decline, and 15 remain unchanged. The turnover at the CSE stood at Tk 21 crore, up from Tk 19 crore in the previous session. New Line Clothings Ltd led the CSE gainers with a 10% jump, while United Power Generation & Distribution Company Ltd ended as the biggest loser, slipping nearly 10%.

Bangladesh Bank (BB) has further expanded the scope of policy support available to classified loan borrowers. All loans classified as adverse (defaulted) on upcoming November 30 will now be eligible for rescheduling under a special facility. This new concession aims to help restructure the business and financial framework of distressed institutions. The central bank's Banking Regulations and Policy Department (BRPD) issued a circular in this regard on Monday, November 24. Extended Tenure and Grace Period: The new directive states that classified loans as of November 30, 2025, can be rescheduled for a maximum term of ten (10) years, with the provision to include a maximum two-year grace period. This means that borrowers with loans classified within the specified timeframe will be eligible for the new policy's rescheduling benefits. Relaxation for Unclassified and Restructuring Loans: Special Restructuring: Concessions have also been extended for unclassified term loans. These loans, including those previously rescheduled, can now be restructured by setting an additional maximum maturity period of two (02) years beyond the term described in the BRPD Circular No. 16/2022. Special Exit Facility Changes New flexibility has been introduced for the special exit facility as well: Extended Period: Alongside taking the down payment as per previous instructions (BRPD Circular No.-13/2024), the duration of the exit facility can be extended by an additional one (01) year. Repayment Obligation: While the rule for monthly or quarterly installment payments remains, the total annual repayment must not be less than 20% of the total loan amount. Classification: During this period, the loans must be displayed as 'Exit (SMA)' (Special Mention Account), and the required General Provision must be maintained. Provisions: Specific Provision maintained previously cannot be transferred to the bank's income account without actual realization, although a part of it can be transferred for maintaining General Provision. Restrictions on New Loans: No new loan facilities can be granted to the institution until the entire loan is fully paid off. Failure to Pay: If the borrower fails to pay three monthly or one quarterly installment, the loan must be classified in the usual manner.

Bangladesh's export sector has officially opened its doors to major global online marketplaces for selling their products with simplified documentation and revenue collection. In a significant move, Bangladesh Bank has granted permission for local exporters to sell goods directly overseas through platforms like Amazon and eBay, creating a vast new opportunity for the country's exporters. The central bank's Foreign Exchange Policy Department issued a circular to this effect on Monday (November 24). The central bank stated that this new policy initiative is designed to boost Bangladesh's participation in the global online marketplace. To make cross-border e-commerce more streamlined and effective, the bank has authorized exports under a Business-to-Business-to-Consumer (B2B2C) framework. According to the circular, Authorized Dealer (AD) banks can now process export transactions where the foreign consignee acts not as the final buyer, but as an intermediary platform or marketplace. This means Bangladeshi goods can now be exported through major international platforms, including Amazon, eBay, Alibaba, Etsy, or any international subsidiary or third-party warehouse. The new structure also simplifies the necessary documentation and revenue collection, such as: Registration Proof: Exporters engaging in this activity must submit proof of their registration with the relevant global platform or warehouse to their AD bank. Pricing: Since the B2B2C model typically lacks a conventional sales contract, the fair value of the exported goods can be declared based on a Proforma Invoice. Shipping Documents: If the consignee is solely a service provider, the bank may also accept shipping documents prepared in their name. The policy also eases rules for realizing export income. Funds earned from these exports are now acceptable not only through standard banking channels but also via international payment service operators. Recognizing that payments for multiple shipments may arrive collectively in platform-based exports, banks are advised to reconcile the export income using a 'First-In, First-Out' (FIFO) principle. Sector Sees Growth Potential: Industry experts believe the Bangladesh Bank's decision will significantly revitalize cross-border e-commerce. "This policy will unlock new markets for small and medium-sized exporters and strengthen Bangladesh's position in the global online marketplace," said Mohammad Hatem, President of BKMEA. The new framework is expected to play a crucial role in diversifying exports and increasing the volume of Bangladeshi products sold through international digital retail channels, he said.

The board of directors of Islami Bank Bangladesh on Monday underscored the importance of ensuring uninterrupted customer services and accelerating the collection of outstanding loans. The board, in its meeting at Islami Bank Tower, also emphasised the opening of Letters of Credit (LCs) for essential goods in line with central bank guidelines ahead of Ramadan, according to a press release. Professor Dr. M. Zubaidur Rahman, chairman of the bank, presided over the meeting. Other participants included Mohammad Khurshid Wahab, chairman of the executive committee; Md. Abdus Salam, FCA, FCS, chairman of the audit committee; Professor Dr. M. Masud Rahman, chairman of the risk management committee; Md. Abdul Jalil, independent director; Md. Omar Faruk Khan, managing director; Professor Dr. Mohammad Abdus Samad, member secretary of the shari’ah supervisory council; and Md. Habibur Rahman, company secretary.

Bangladesh Bank has set a target to establish a fully interoperable digital transaction system by July 2027, linking banks, Mobile Financial Services (MFS), insurance firms and other financial institutions, said Governor Dr Ahsan H Mansur. The Governor made the announcement at a programme titled ‘Instant Payment in Bangladesh: Unveiling Inclusion Opportunities’ held at a hotel in Dhaka on Monday. Addressing the current state of digital payments, the governor admitted that Bangladesh Bank's existing interoperable payment system, launched on November 1, has not been successful so far. "Although the interoperable system has been launched, it has not been successful because many institutions are not conducting transactions through it," said Dr Mansur. To overcome this hurdle and accelerate the shift toward a cashless economy, the central bank has signed an agreement with the ‘Gates Foundation’s Mojaloop’ to establish a new Instant Payment Platform. The agreement was virtually signed for security reasons. Introducing IIPS The new Mojaloop-based platform will be named the Inclusive Instant Payment System (IIPS). Governor Mansur highlighted the key feature of the new system: it will eliminate the need for cash-out transactions, facilitating seamless digital transfers across the entire financial ecosystem. The Governor emphasised the mandatory nature and benefits of this digital transformation, saying, “We must transform our entire transaction ecosystem into a cashless one. Banks, MFS operators, agent banking and financial institutions everyone must be brought under a single channel. The plan is to launch it by July 2027.” He pointed out that this shift to the IIPS is vital for macroeconomic stability. “In the future, there will be no alternative but to move towards this system. It will increase transparency, reduce corruption, and boost revenue collection.”

Trading at the country’s two major bourses opened with a sharp rise on Monday, as most company shares posted gains during the first hour. On the Dhaka Stock Exchange(DSE), the benchmark DSEX advanced by 63 points in early trading. The Shariah-based DSES gained 13 points, while the blue-chip DS30 index rose by 21 points. Of the 337 companies that traded during the opening hour, prices increased for the majority — with 337 issues advancing, 30 declining and 22 remaining unchanged. The turnover crossed Tk 300 crore within the first hour. The Chittagong Stock Exchange (CSE) also began the day on a positive note, with its all-share price index climbing 69 points. Stocks open lower at DSE, CSE as market extends downtrend Among 121 traded companies, 95 saw price gains, 18 declined and 8 remained unchanged. The turnover at the CSE exceeded Tk 9 crore in the first hour. Both bourses reflected strong investor participation at the start of the week’s second trading day.      

The government has issued the ‘Deposit Protection Ordinance, 2025’ to enhance the protection of depositors and increase public confidence in the country's banking sector. Considering the importance of financial sector stability during the dissolution of parliament, the president promulgated the ordinance using the power vested under Article 93(1) of the constitution. This ordinance repeals the existing ‘Deposit Insurance Act, 2000,’ and introduces a modern framework. The information was revealed through a circular published on Sunday (November 23) by the Deposit Insurance Department of the Bangladesh Bank. The primary objective of the new law is to ensure the protected return of deposits placed with both Bank Companies and Finance Companies. New Department: A separate Deposit Protection Department will be established under the Bangladesh Bank to oversee the protection programme. This department will be responsible for collecting regular premiums, fund management, inspecting member institutions, settling claims, and conducting awareness programs. Fund Structure: The ordinance mandates the formation of two separate Deposit Protection Funds for bank and finance companies. These funds will be managed using premiums collected from member institutions, fines, investment income, and other approved sources. Governing Body: The administration of the funds will be overseen by the Bangladesh Bank's Board of Directors, which will act as the 'Trustee Board'. Membership: Newly licensed bank and finance companies must submit an initial premium at a prescribed rate. All existing bank companies will automatically be considered member institutions under this law, while finance companies will be included from July 1, 2028. The law also includes provisions for the collection of risk-based premiums on a quarterly basis. Coverage and Claim Settlement The ordinance explicitly excludes certain classes of deposits from protection, including those belonging to the government, foreign entities, and international organizations. Conversely, deposits made by general individuals or institutions will be considered 'protectable' and will be secured up to a defined limit. In the event of a bank or finance company's liquidation or resolution, the Deposit Protection Department will directly pay the secured deposits. If necessary, the protection process can also be managed by transferring assets and liabilities to a bridge bank or a third party through the resolution authority. The Bangladesh Bank has also been empowered under this law to sign Memoranda of Understanding (MoU) with domestic and foreign regulators, exchange information, receive technical assistance, and conduct deposit protection activities in line with international standards. Experts believe the implementation of this new law will increase the financial sector's capacity to manage risk and combat crises, providing depositors with greater protection. END/UNB/AI/ssk

Despite opening lower, both Dhaka and Chattogram stock exchanges closed higher on the first trading day of the week. At the Dhaka Stock Exchange (DSE), the benchmark DSEX gained 46 points while the Shariah-based DSES rose 9 points and the blue-chip DS30 index added 5 points. Most stocks ended higher, with 250 companies posting gains, 84 declining, and 47 remaining unchanged. In the block market, shares worth Tk 19 crore were traded among 17 companies, with Square Pharmaceuticals PLC leading at Tk 12 crore. The total turnover at DSE stood at BDT 385 crore, down from BDT 445 crore in the previous session. Sun Life Insurance Company Limited topped the gainers with nearly 10% rise, while Energypac Power Generation PLC fell around 8% to the bottom. The Chittagong Stock Exchange (CSE) also saw an upward trend, with the CASPI index rising 34 points. Out of the traded companies, 95 saw price increases, 56 declined, and 15 remained unchanged. The turnover doubled to Tk 15 crore from Tk 7 crore in the previous session. Ring Shine Textiles Limited led the gainers with a 10% rise, while Kohinoor Chemical Company (BD) Limited fell about 13% to the lowest.