United News of Bangladesh

The government on Tuesday approved a variation proposal involving the construction of Narayanganj Rice Silo under the Modern Food Storage Facilities Project (4th Revised), being implemented by the Directorate General of Food with financial support from World Bank. The approval came a meeting of the Advisers Council Committee on Government Purchase held virtually with Finance Adviser Dr Salehuddin Ahmed in the chair. According to the Food Ministry’s proposal, the variation applies to Package W-23 of the project. The original contract value was Tk 46.53 crore and USD 3.22 crore, which has now been revised to Tk 42.53 crore and USD 3.24 crore following an adjustment that includes an increase of Tk 4 crore and USD 1.53 lakh. The contract was awarded to Confidence Infrastructure Limited, Unique Trade Centre (Level 6 & 7), 8 Panthapath, Kawran Bazar, Dhaka, in association with The GSI Group LLC, Illinois, USA.

China has imposed sanctions on five U.S.-based subsidiaries of South Korean shipbuilder Hanwha Ocean, escalating tensions over Washington’s investigation into Beijing’s growing dominance in global shipbuilding. The Chinese Ministry of Commerce announced on Tuesday that all Chinese companies are now barred from conducting business with the sanctioned entities — Hanwha Shipping LLC, Hanwha Philly Shipyard Inc., Hanwha Ocean USA International LLC, Hanwha Shipping Holdings LLC, and HS USA Holdings Corp. The ministry also said it has launched its own investigation into the U.S. probe, calling it a threat to China’s national security and maritime industry. It accused Washington of using trade measures to undermine China’s position in the global shipbuilding sector. The U.S. Trade Representative initiated the Section 301 trade investigation in April 2024, concluding that China’s dominance in the industry was putting American shipbuilders at a disadvantage. Maritime trade has become a fresh battleground in U.S.-China relations, with both sides introducing new port fees on each other’s vessels effective Tuesday. Hanwha Ocean, one of South Korea’s leading shipbuilders, has been expanding its footprint in the U.S. market. The company acquired Philly Shipyard in Pennsylvania late last year for $100 million and announced a $5 billion investment plan in August to build new docks and quays in support of U.S. efforts to revive domestic shipbuilding. In its announcement, Beijing said the new Chinese port fees will apply to ships owned or operated by U.S. companies or individuals, those with a 25% or higher U.S. ownership stake, vessels flying the U.S. flag, and those built in the United States.   Source: AP

Trading at the country’s stock exchanges began on a positive note on Tuesday, with key indices posting early gains in the first hour of the session. At the Dhaka Stock Exchange (DSE), the benchmark index DSEX rose by 38 points within the first hour of trading. Other indices also moved upward, with the Shariah-based DSES advancing 5 points and the blue-chip DS30 gaining 9 points. Market breadth remained positive as prices increased for the majority of listed companies. Dhaka stocks rebound after five-day losing streak Out of the traded issues, 285 advanced, 40 declined, and 62 remained unchanged. The total turnover at the DSE stood at over Tk 180 crore during the first hour. The Chittagong Stock Exchange (CSE) also witnessed early gains, with its overall index climbing 49 points in the same period. At the CSE, 39 issues advanced, 13 declined and 9 remained unchanged, with shares and mutual fund units worth over Tk 60 lakh changing hands during the first hour of trading.

Customers can enjoy up to Tk 200 discount on pizza orders by paying through bKash at over 270 participating restaurants and cafes across various districts, including Dhaka, Chattogram, Sylhet, Rajshahi, and Khulna. According to a media statement, the offer aims to promote digital payments and will remain valid until November 1, 2025. To avail the discount, customers must use the promo code ‘D4’ while making a minimum payment of Tk 250 through the bKash app or by scanning the QR code via the app. Each customer will receive a 10% discount, up to Tk 100 per transaction, and can use the offer once per day, for a maximum of two times during the campaign. The list of pizza outlets, including their names, districts, and specific addresses, has been added to the bKash website. Customers can find out nearby restaurants and cafes that are running the offer by checking this link: https://www.bkash.com/page/payment-d4-pizza-fest-outlet-list-oct25.

Wall Street opened sharply higher Monday, led by gains in chipmakers, as trade tensions between the U.S. and China appeared to ease over the weekend. Dow Jones futures rose 0.9%, S&P 500 futures gained 1.2%, and Nasdaq futures surged 1.7%. The early rally, however, could not fully offset Friday’s losses, when the S&P 500 fell 2.7%, the Dow dropped 1.9%, and the Nasdaq tumbled 3.6%. The weekend saw a more conciliatory tone from U.S. President Donald Trump, who said on Truth Social, “The U.S.A. wants to help China, not hurt it!!!” This followed Beijing’s call for Trump to retract his Friday tariff threats after China imposed stricter export controls on rare earth materials. Chipmakers led Monday’s gains, with Micron climbing 4.9%, Advanced Micro Devices up 3.4%, and Nvidia and Broadcom each rising about 3%. Investors now look ahead to the start of U.S. bank earnings on Tuesday, along with reports from United Airlines and Johnson & Johnson. In Asia, markets were mixed as China’s exports rose 8.3% year-on-year in September, though U.S. exports fell 27%. Hong Kong’s Hang Seng dropped 1.5%, while Shanghai’s Composite edged down 0.2%. European indexes were modestly higher, with Germany’s DAX and France’s CAC 40 up 0.4%, and Britain’s FTSE 100 unchanged. Energy markets saw gains, with U.S. crude rising $1.21 to $60.08 per barrel and Brent crude up $1.12 to $63.85.

After five consecutive sessions of decline, Dhaka’s stock market returned to the green on Sunday, with key indices and most share prices edging higher. At the end of the day’s trading, the benchmark DSEX index of the Dhaka Stock Exchange (DSE) gained 25 points. Among the other indices, the Shariah-based DSES rose by 2 points, while the blue-chip DS30 advanced by 11 points. Despite the rebound in indices, turnover on the DSE slightly declined to Tk 530 crore, down from Tk 542 crore in the previous session. Out of the 400 issues traded, 230 advanced, 120 declined, and 50 remained unchanged. The prices of most companies in the A and B categories ended higher, while shares in the Z category — which comprises non-dividend-paying firms — mostly declined. In this category, 39 issues advanced, 40 fell, and 19 remained unchanged.  In the block market, 22 companies recorded transactions worth Tk 17 crore, with Midland Bank shares dominating the block trades, accounting for Tk 8 crore. Mixed trading at Bangladesh stock market in early hours Intech Limited topped the gainers’ chart on the DSE with a rise of over 9 percent, while Bangladesh Lamps PLC suffered the steepest loss, falling by more than 8 percent. CSE  In contrast, the Chittagong Stock Exchange (CSE) extended its losing streak, with the overall index dropping by 34 points. Of the 172 issues traded, 74 advanced, 76 declined, and 22 remained unchanged. However, the turnover at the CSE increased to Tk 19 crore from Tk 10 crore in the previous session. EBL First Mutual Fund emerged as the top gainer, soaring by 10 percent, while Apex Tannery Limited ended as the worst performer, losing 10 percent.  

Bangladesh’s two stock exchanges witnessed mixed trading in the first hour on Monday, with the key index of the Dhaka Stock Exchange (DSE) rising while the Chittagong Stock Exchange (CSE) saw a slight decline. During the first hour of trading, the DSE’s benchmark index, DSEX, gained 28 points. Among the other indices, the Shariah-based DSES advanced 5 points, and the blue-chip DS30 index edged up by 10 points. Out of 257 issues traded on the DSE, prices of 117 companies increased, 65 declined, and 75 remained unchanged. Indices rise in early trading at DSE, CSE The turnover stood at over Tk 220 crore in the first hour. Meanwhile, the overall index of the CSE dropped by 9 points. Of the 103 issues traded there, 53 advanced, 38 declined, and 12 remained unchanged, with a turnover of over Tk 10 crore during the first hour.

China’s exports to the United States slumped 27% in September compared with a year earlier, even as its overall global shipments recorded the strongest growth in six months, official data showed Monday. According to customs figures, China’s worldwide exports rose 8.3% year-on-year to $328.5 billion, beating economists’ expectations and improving sharply from August’s 4.4% growth. Imports also rose 7.4%, recovering from a modest 1.3% increase the previous month, though weak domestic demand and a deepening real estate downturn continue to cloud the outlook. Exports to the United States have now declined for six consecutive months, following a 33% drop in August, as trade tensions between Beijing and Washington intensify. The renewed strain comes amid an escalating tariff dispute between the two economic powers. U.S. President Donald Trump has threatened to impose an additional 100% tariff on Chinese goods and introduce new export controls on “critical” software. Beijing retaliated by announcing new port fees on American ships and expanding export restrictions on lithium-ion batteries, rare earths, and related technologies. The growing friction has cast doubt on a potential meeting between Trump and Chinese President Xi Jinping later this month, underscoring the limited progress toward a comprehensive trade deal. China vows to stand firm against Trump's 100% tariff threat Despite the U.S. slump, China’s exports to other regions surged — shipments to Southeast Asia rose 15.6%, while exports to Latin America and Africa jumped 15% and 56%, respectively. “China’s exports continue to show resilience given the low costs and limited alternatives globally, despite higher tariffs,” said Gary Ng, senior economist at Natixis. Analysts say China’s strategy to diversify export markets is helping offset losses from the U.S., but ongoing policy headwinds and geopolitical tensions remain major risks for trade growth. Source: AP 

China signaled Sunday that it would not back down in the face of a 100% tariff threat from President Donald Trump, urging the U.S. to resolve differences through negotiations instead of threats. U.S. Vice President JD Vance defended Trump's position and seemed to warn China not to be aggressive in its response. “China’s stance is consistent,” the Commerce Ministry said in a statement posted online. “We do not want a tariff war but we are not afraid of one.” It was China's first official comment on Trump's threat to jack up the tax on imports from China by Nov. 1 in response to new Chinese restrictions on the export of rare earths, which are vital to a wide range of consumer and military products. The back and forth threatens to derail a possible meeting between Trump and Chinese leader Xi Jinping and end a truce in a trade war in which new tariffs from both sides briefly topped 100% in April. In response, Vance said Sunday that Trump is committed to protecting America's economic livelihoods while making the United States more self-sufficient. He said the fact that China has “so much control over critical supply in the United States of America" is the definition of a national emergency and therefore justifies Trump's move to impose tough tariffs. “It’s going to be delicate dance and a lot of it is going to depend on how the Chinese respond. If they respond in a highly aggressive manner, I guarantee you the president of the United States has far more cards than the People’s Republic of China,” Vance said on Fox News Channel's “Sunday Morning Futures.” “If, however, they’re willing to be reasonable, then Donald Trump is always willing to be a reasonable negotiator. We’re going to find out a lot in the weeks to come about whether China wants to start a trade war with us or whether they actually want to be reasonable,” Vance continued. "I hope they choose the path of reason. The president of the United States is going to defend America regardless.” Trump has raised taxes on imports from many U.S. trading partners since taking office in January, seeking to win concessions. China has been one of the few countries that hasn't backed down, relying on its economic clout. “Frequently resorting to the threat of high tariffs is not the correct way to get along with China,” the Commerce Ministry said in its post, which was presented as a series of answers from an unnamed spokesperson to four questions from unspecified media outlets. The statement called for addressing any concerns through dialogue. “If the U.S. side obstinately insists on its practice, China will be sure to resolutely take corresponding measures to safeguard its legitimate rights and interests,” the post said. In addition to the 100% tariff, Trump threatened to impose export controls on what he called “critical software,” without specifying what that means. Both sides accuse the other of violating the spirit of the truce by imposing new restrictions on trade. Trump said in a social media post that China is “becoming very hostile” and that it is holding the world captive by restricting access to rare earth metals and magnets. The Chinese Commerce Ministry post said the U.S. has introduced several new restrictions in recent weeks, including expanding the number of Chinese companies subject to U.S. export controls. On rare earths, the ministry said that export licenses would be granted for legitimate civilian uses, noting that the minerals also have military applications. The new regulations include a requirement that foreign companies get Chinese government approval to export items that contain rare earths sourced from China, no matter where the products are manufactured. China accounts for nearly 70% of the world’s rare earths mining and controls roughly 90% of their global processing. Access to the material is a key point of contention in trade talks between Washington and Beijing. The critical minerals go into many products, from jet engines, radar systems and electric vehicles to consumer electronics including laptops and phones. China’s export controls have hit European and other manufacturers, as well as American ones. The Commerce Ministry statement said that the U.S. is also ignoring Chinese concerns by going forward with new port fees on Chinese ships that take effect Tuesday. China announced Friday that it would impose port fees on American ships in response.  

Dhaka and Chattogram stock markets opened the week with significant losses on Sunday as all major indices declined and most company shares fell. At the Dhaka Stock Exchange (DSE), the benchmark DSEX index dropped 81 points to close at 5,202. Other indices also fell, with the Shariah-based DSES losing 19 points and the blue-chip DS30 index down 34 points. Out of 396 listed companies that traded, 311 saw their share prices fall, while only 47 companies posted gains and 38 remained unchanged. Losses dominated across all categories — A, B, and Z. In the high-dividend A category, 175 companies declined in price compared to 27 that gained. In the block market, shares worth Tk 13 crore of 26 companies changed hands, with Envoy Textiles Limited topping the list at Tk 3.9 crore. The total turnover at DSE stood at BDT 542 crore, slightly higher than BDT 530 crore recorded in the previous session. Simtex Industries PLC led the gainers with a rise of over 9%, while Bangladesh Industrial Finance Company Limited suffered the steepest fall of more than 9%. The bearish trend continued at the Chittagong Stock Exchange (CSE), where the overall index fell 185 points. Out of 194 traded companies, 147 closed lower, 32 advanced and 15 remained unchanged. CSE’s turnover stood at BDT 10 crore, down from BDT 22 crore in the previous session. Simtex Industries PLC led the gainers with a 10% increase, while Union Bank recorded the highest decline of 10%.