United News of Bangladesh

The strong inflow of remittances has continued into April, with expatriates sending $1.78 billion in the first 19 days of the month. This follows a record-breaking $3.29 billion received in March. Bangladesh Bank’s latest update revealed that Bangladeshi expatriates have sent around US$ 1.72 billion in inward remittance in 1-19 days of April. In April last year, the expatriates sent $2.04 billion remittance, while in the 19 days of April this year sent $1.78 billion remittance. Accordingly, Bangladesh received $90.45 million remittance so far in each day of April. The state-owned commercial banks received a total of $639.7 million, two specialised banks received $90.26 million, private banks received $985.42 millio,n and foreign banks received $3.35 million. Among the banks, Solani Bank Plc received the highest $278.09 million, Islami Bank Bangladesh PLC received the second highest $266.88 million, and Agrani Bank PLC received the third highest 183.41 million in 19 days of April. Bangladesh received $1.05 billion in remittances in first 12 days of April The expertise sent $21.77 billion remittance in the 9 months (July-March) of the current fiscal year FY2024- 25. On the other hand, remittances of $17.07 billion were received in the first 9 months of the previous FY2023- 24. March $3.29 billion February $2.53 billion. January $2.19 billion December $2.64 billion November $2.2 billion October $2.39 billion September $2.4 billion August $2.22 billion In July $ 1.91 billion

The latest hike in gold prices in Bangladesh has pushed the precious metal’s value beyond levels anticipated from global market trends. On Sunday, high-quality 22-carat gold was being sold at Tk 167,833 per bhori (11.664 grams), marking the highest price ever recorded in the country. This follows the most recent price revision, which came into effect today. Meanwhile, Goldman Sachs has forecast that the global price of gold could reach USD 3,700 per ounce by the end of 2025. One ounce equals 31.1035 grams. The Bangladesh Jewellers' Association (Bajus) has fixed the 22-carat gold price at Tk 14,389 per gram. Accordingly, the local price of one ounce of gold stands at Tk 447,548. But, the current spot price for gold in the United States is approximately USD 3,328.30 per ounce, equivalent to around Tk 402,724. Gold prices rising globally due to central bank policies This means gold in Bangladesh is being sold at Tk 44,824 higher than the international market rate. Bajus had earlier raised the price of gold by Tk 3,033 per bhori last Wednesday. On Saturday, the association announced a further increase of Tk 2,624 per bhori, effective from Sunday. As per the new pricing, from Sunday, hallmarked 22-carat gold is being sold at Tk 167,833 per bhori, 21-carat at Tk 160,205 per bhori, and 18-carat at Tk 137,309 per bhori. Besides, the price of traditional method gold has risen to Tk 113,491 per bhori. Up until Saturday, the prices stood at Tk 165,209 per bhori for 22-carat hallmarked gold, Tk 157,697 for 21-carat, Tk 135,174 for 18-carat, and Tk 111,660 per bhori for traditional gold. Gold prices reach record high in Bangladesh ahead of Eid In a press release, Bajus stated that the selling prices of gold and silver must include a 5 percent VAT as mandated by the government, along with a 6 percent minimum wage set by the association. The wage component may vary based on the jewellery’s design and craftsmanship.

The stock markets of Dhaka and Chattogram suffered a significant setback this past week, with all major indicators, transaction volumes and the majority of share prices experiencing considerable declines. A review of the Dhaka Stock Exchange (DSE) weekly report reveals that the benchmark index, DSEX, dropped by 108 points over the four trading sessions. Starting the week at 5,205 points, the index ended at 5,097, marking a fall of over 2 per cent. Other indices also saw marked drops. The Shariah-based DSES index shed 29 points, losing nearly 2.5 per cent of its value. Even the blue-chip DS30 index, which tracks performance of well-established companies, declined by 52 points or 2.72 per cent, leaving investors in high-performing stocks in a grim situation. The SME index also mirrored the negative trend, falling by 4.15 per cent. The DSMEX lost 40 points over the week, underlining the overall distress in the capital market. Turnover, too, took a hit. The average daily turnover dropped to Tk 399 crore from the previous week’s Tk 487 crore—an 18.11 per cent fall. Investor participation waned, leading to a sharp reduction in share transfers. From Tk 98 crore in the second week of April, the total value of traded shares and units fell to Tk 57 crore in the third week. Only 77 companies recorded gains during the week, while 299 lost value and 20 remained unchanged. Only two sectors—corporate bonds and general insurance—posted positive returns. All other sectors continued to struggle, with mutual funds and ceramics seeing more than 6 per cent drop in returns. Despite a marginal overall gain in the banking sector, individual bank stocks performed poorly. Of the 36 banks involved in trading, 24 witnessed price drops. Mixed trends in stock markets: DSE gains, CSE declines in early trading The non-bank financial institutions sector performed dismally, with a 41 per cent drop in share prices and 31 per cent fall in turnover. Out of 23 listed financial institutions, only one recorded a price increase, 17 declined, and 5 remained unchanged. While the general insurance sector saw an 85 per cent gain in share prices, life insurance faced a setback with over 50 per cent decline. The telecom and IT sectors declined by 32 per cent and 38 per cent respectively. The engineering sector also underperformed, losing 16 per cent in value. In the block market, the top sellers were Marico, Beach Hatchery, and ACI Ltd. Marico offloaded shares worth Tk 25.2 crore, Beach Hatchery Tk 25.1 crore, and ACI Tk 20.68 crore. Among the week's top-performing shares was Desh General Insurance Company Ltd. A B-category company, it posted a return of over 24 per cent in just four trading sessions—its share price climbing from Tk 25 to Tk 31. In contrast, Bangladesh Finance was the worst performer, losing over 15 per cent. The A-category company’s share dropped from Tk 12 to Tk 10. Chattogram Market Equally Strained The Chattogram Stock Exchange (CSE) experienced a similar downturn. Its benchmark index fell by 250 points over the week. Excluding Z-category (non-dividend paying) companies, the selective CSCX index declined by 149 points. DSE announces new trading hours for Ramadan The CSE-50 benchmark index slipped by 17 points, while the Shariah-based CSI index dropped 21 points. The SME index fell by 4.57 per cent. Among 301 companies that traded throughout the week in CSE, prices rose for only 65, fell for 218, and remained unchanged for 18. Anwar Galvanizing Ltd topped the weekly gainers’ list in CSE, with its share price increasing by Tk 28—from Tk 68 to Tk 87. Meanwhile, Shamarita Hospital saw the steepest fall, losing Tk 20 per share. Orion Infusion recorded the highest turnover in the CSE with Tk 7.6 crore in total trades. Investor Confidence Falters Ongoing price falls have left investors demoralised. Many are closing their Beneficiary Owner (BO) accounts and exiting the market altogether. According to Central Depository Bangladesh Ltd (CDBL), the number of BO accounts with zero balance rose from 3,69,210 before the Eid holidays to 3,73,367 by the end of the latest trading session—a net exit of 4,157 investors in just a few days. Tareq Hossain, a retail investor, said, “No visible reforms have taken place in the market so far. There’s no progress in penalising or trying those involved in manipulation. Investors are gradually losing interest.” Another investor, Habibur Rahman, added, “None of our demands have been met. Despite repeated discussions, the buy-back policy hasn’t been implemented. Those who lost everything through margin loans have also been ignored.” Faridur Rahman pointed out the cascading effect of margin loans: “When junk stocks fall, investors are forced to sell off quality stocks to cover their losses—dragging even good stocks down.” Where Are the IPOs? Another major concern is the lack of quality IPOs. Several reputed companies were expected to go public this year, but those plans have not materialised. Weekly Review: DSE plunges as investor confidence wanes; key sectors hit hard A senior official from the Bangladesh Securities and Exchange Commission (BSEC), requesting anonymity, confirmed that no new IPOs are expected this year. “Good companies are not confident enough to enter the market,” he said. He explained that BSEC is in the process of overhauling IPO listing rules. “The revised IPO guidelines may not be gazetted until September. After that, it may take another 5–6 months for new listings, meaning we may not see fresh IPOs before March or April 2026.” In response to queries about the current commission's inability to attract strong listings, the official noted that many previously well-performing firms have undergone management changes due to political shifts. Moreover, higher interest rates on bank loans have cut into company profits, discouraging them from seeking public capital. He concluded that substantial tax incentives are needed to attract large corporations to the market. “Offering meaningful benefits could encourage top firms to list, which would, in turn, revitalise the stock market.”

Drew Greenblatt is fully on board with the Trump administration’s use of tariffs to rebalance a global trading system that it says favors foreign companies over U.S. manufacturers. Greenblatt is the president and owner of Marlin Steel Wire Products in Baltimore, Maryland, which makes baskets and racks for medical device manufacturers, aerospace companies, food processing companies and others. It has 115 employees and makes its products in three locations in Maryland, Indiana and Michigan. The steel is sourced from Tennessee, Illinois and Michigan. Currently, it’s hard to compete with baskets made overseas., Greenblatt says, because the countries he competes against have an “unfair advantage.” For example, due to European tariffs and taxes, it costs much more for a German consumer or company to buy Marlin wire baskets than it does for Americans to buy a German-made basket, creating an uneven playing field, Greenblatt said. “It’s wildly unfair to the American worker,” he said. “And this has, by the way, been going on for decades.” What Trump is doing The Trump administration has called U.S. manufacturing an “economic and national security” priority. U.S. manufacturing has been declining for decades. In June 1979, the number of manufacturing workers peaked at 19.6 million. By January of 2025, employment was down 35% to 12.8 million, according to the Bureau of Labor Statistics. Small manufacturers, which make up 99% of all American manufacturing, have been hit particularly hard. The administration has implemented some tariffs against major U.S. trading partners, while putting a hold on other tariffs pending negotiations. The Trump administration says tariffs will force companies to have more products made in the U.S. to avoid steep price increases on their imports, which will mean “better-paying American jobs,” for people making cars, appliances and other goods. Spanish PM in China to boost ties amid Trump tariffs Greenblatt agrees, saying he could double his staff if “parity” in tariffs becomes a reality. Uncertainty for businesses While other small manufacturing businesses also support the tariffs, other owners have concerns. The Trump tariffs threaten to upend the existing economic order and possibly push the global economy into recession. And the uneven rollout of the policy has created uncertainty for businesses, financial markets and U.S. households. For Corry Blanc, the injection of uncertainty around the economy outstrips any potential benefit. He started his business, Blanc Creatives in Waynesboro, Virginia, in 2012. He makes handcrafted cookware such as skillets and other kitchenware and bakeware with American steel and wood and employs 12 staffers. He gets his steel from a plant in South Carolina and a distributor in Richmond. Wood comes from local regional sawmills near the company’s headquarters in Waynesboro, Virginia. He said he’s been fielding worried calls from customers in Canada and overseas. And he says the infrastructure isn’t in place to increase production if more people do start buying American-made goods. Blanc said he survived the pandemic and other tough times, but conditions now are the hardest they’ve ever been. “There’s so much uncertainty and not a lot of direction,” he said. Michael Lyons is the founder of Rogue Industries, a company that makes wallets and other leather goods in a workshop in Standish, Maine, with a staff of nine. He uses leather from Maine and the Midwest. About 80% of his products are made in Maine and 20% are imported. He said the uncertainty around the tariffs is outweighing any potential long-term benefit. A long-time customer from Canada recently told Lyons that he would no longer be buying from Rogue Industries because of the friction between the two countries. “Hopefully this will pass, and he’ll be able to come back,” he said. “But I did think that was kind of an interesting indicator for him to reach out.” Lyons would like to expand his business, but says, “at the time being, it’s probably going to be, we hold with what we have.” Hoping for more American-made products Asian stocks tumble following Wall Street drop on Trump tariffs American Giant CEO Bayard Winthrop takes a more positive view. He founded his clothing company in 2011 after watching the textile industry go offshore, and seeing a lack of quality, affordable American-made clothing. He started by selling one sweatshirt, and now sells a wider range of clothing, mostly direct-to-consumer, but he also has a contract with Walmart. He sources cotton from Southeastern states like Georgia, Florida and North Carolina and has a factory in North Carolina and a joint partnership facility in Los Angeles. “People forget that in about 1985 that all the clothing that Americans bought was made in America,” he said. “It is only in the last 40 years that that we really pursued as a country a very aggressive approach to globalization.” In 1991, more than half of U.S. apparel, about 56%, was made in the U.S., according to statistics from the American Apparel and Footwear Association. By 2023 that number had shrunk to less than 4%. Winthrop hopes the tariffs will bring about a return to more American-made products. “The imbalances between our trading, in particularly with China, particularly the textiles, it’s just shocking, to be honest with you,” he said, adding that he hopes Trump's policies "put domestic manufacturers on a bit more of a competitive footing.” Winthrop understands people’s concerns but said it’s important to think longer term. “Americans are worried about tariffs, and I think there’s a lot of justification for the worry because I think the administration can be volatile and unpredictable,” he said. But he added that people should put that aside. Trump tariffs ignite global backlash, shake markets, trade alliances “The idea that we’re going to be more protective of our domestic marketplace and have an industrial policy that includes manufacturing jobs is, an old idea. It’s not a new idea,” he said.

The new US ambassador to Japan arrived in Tokyo on Friday and said he is optimistic that his country and its key Asian ally will reach a deal in their ongoing tariff negotiations. George Glass, a prominent businessperson known for his background in finance, investment banking and technology, arrives as Washington and Tokyo are negotiating President Donald Trump's tariff measures, which have triggered worldwide concern about their impact on the economy and global trade, AP reports. “I'm extremely optimistic ... that a deal will be get done,” Glass told reporters after landing at Tokyo's Haneda international airport. His arrival comes a day after the two countries held their first round of tariff talks between their top negotiators in Washington where both sides agreed to try to reach an agreement as quickly as possible and hold a second round of meetings later this month. Trump, alongside his top economic advisers, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, attended the meeting with the Japanese delegation headed by Economic Revitalization Minister Ryosei Akazawa at the White House. With his reputation as a dealmaker being tested, Trump likely wants to finalize a series of trade deals as countries around the world seek to curb damages from the US tariffs. US tariffs will weaken global economy and trigger inflation but not a global recession, IMF says Trump's recent announcement of a 90-day pause temporarily spared Japan from 24% across-the-board tariffs, but a 10% baseline tariff and a 25% tax on imported cars, auto parts, steel and aluminium exports remains in place. Japanese Prime Minister Shigeru Ishiba has said the tariffs would deal a blow to Japan's economy and chill Japanese companies' investment in the US and that the two sides should seek a settlement that would benefit both. Trump is also pushing Tokyo to further increase its defence spending and shoulder more burden for hosting some 50,000 American troops as the allies strengthen military cooperation. He brought up the issue during his tariff talks with Japan. “We sit with Japan in a very tough neighborhood. You have Russia, you have China, and you have North Korea,” Glass said Friday, adding that the allies need to make sure their militaries have all the materials they need “to push back against a country like China.”

Surging U.S. tariffs will weaken the global economy and push up inflation this year, according to projections to be released next week by the International Monetary Fund. The IMF’s Managing Director, Kristalina Georgieva, said Thursday that the Trump administration’s sharp increases in duties have caused global uncertainty to spike. The import taxes will slow global growth, but not cause a worldwide recession, she added. The details of the IMF’s outlook will be issued Tuesday. The world economy’s resilience is being tested “by the reboot of the global trading system” that threatens to cause turbulence in financial markets, Georgieva said. That turbulence has been playing out in financial markets for weeks now, especially on Wall Street, which has experienced wild swings from day-to-day and often times even hour-to-hour. The IMF chief also echoed some Trump administration concerns. She called on countries to reduce their tariffs and lower other barriers to trade, a process that she said had stalled out in the past decade after making steady progress for many years after World War II. “Trade distortions — tariff and nontariff barriers — have fed negative perceptions of a multilateral system seen to have failed to deliver a level playing field,” she said. “This feeling of unfairness in some places feeds the narrative: we play by the rules while others game the system without penalty.” Spanish PM in China to boost ties amid Trump tariffs Georgieva added that tariffs cause uncertainty, which can be costly. Due to the complexity of supply chains, the cost of a single item can be affected by tariffs in dozens of countries, she said. Increased trade barriers also tend to immediately impact growth, and while it can lead to more domestic production, that takes time to implement, she added. In its most recent projections issued in January, the IMF forecast the world economy to grow nominally faster and for inflation to come down, though it warned that outlook was clouded by President Donald Trump's policies, including tax cuts and increased tariffs on foreign imports. The Washington-based lending agency said at the time that it expected the world economy to grow 3.3% this year and next, up from 3.2% in 2024. Global inflation, which had surged after the COVID-19 pandemic disrupted global supply chains and caused shortages and higher prices, was forecast to fall from 5.7% in 2024 to 4.2% this year and 3.5% in 2026. However, in a blog post that accompanied those projections, the fund’s chief economist, Pierre-Olivier Gourinchas, wrote that the policies Trump has promised to introduce “are likely to push inflation higher in the near term.’’ Those forecasts from January are expected to change — possibly significantly — as Trump's trade war has escalated in recent months, particularly with the U.S.'s biggest trade partner, China. Trump has paused or pulled back on many of his tariff threats — leading to more volatility in the stock market — but has been in a tit-for-tat tariff battle with China and has shown no sign of backing down. Each time Trump has raised tariffs on China, Beijing has retaliated with tariffs on U.S. imports. EU welcomes Trump tariff pause, silent on retaliation The IMF is a 191-nation lending organization that works to promote economic growth and financial stability and to reduce global poverty.

China-founded e-commerce sites Temu and Shein say they plan to raise prices for U.S. customers starting next week, a ripple effect from President Donald Trump's attempts to correct the trade imbalance between the world's two largest economies by imposing a sky-high tariff on goods shipped from China. Temu, which is owned by the Chinese e-commerce company PDD Holdings, and Shein, which is now based in Singapore, said in separate but nearly identical notices that their operating expenses have gone up “due to recent changes in global trade rules and tariffs.” Both companies said they would be making “price adjustments” starting April 25, although neither provided details about the size of the increases. It was unclear why the two rivals posted almostidentical statements on their shopping sites. Since launching in the United States, Shein and Temu have given Western retailers a run for their money by offering products at ultra-low prices, coupled with avalanches of digital or influencer advertising. The 145% tariff Trump slapped on most products made in China, coupled with his decision to end a customs exemption that allows goods worth less than $800 to come into the U.S. duty-free, has dented the business models of the two platforms. Asian shares mostly gain as Trump temporarily eases tariffs E-commerce companies have been the biggest users of the widely used exemption. Trump signed an executive order this month to eliminate the “de minimis provision” for goods from China and Hong Kong starting May 2, when they will be subject to the 145% import tax. As many as 4 million low-value parcels — most of them originating in China — arrive in the U.S. every day under the soon-to-be canceled provision. U.S. politicians, law enforcement agencies and business groups lobbied to remove the long-standing exemption, describing it as a trade loophole that gave inexpensive Chinese goods an advantage and served as a portal for illicit drugs and counterfeits to enter the country. Shein sells inexpensive clothes, cosmetics and accessories, primarily targeting young women through partnerships with social media influencers. Temu, which promoted its goods through online ads, sells a wider array of products, including household items, humorous gifts and small electronics. Last year the companies were among the largest advertising spenders on social media platforms, but they've both slashed that spending in recent weeks, according to data analytics provider Sensor Tower. That could be bad news for the platforms such as Facebook, Instagram, Snap, X and TikTok that rely on advertising. In November, American e-commerce giant Amazon launched a low-cost online storefront featuring electronics, apparel and other products priced at under $20. Many of the electronics, apparel and other products on the storefront Wednesday resembled the types of items typically found on Shein and Temu. In their customer notices about the pending price increases, the companies encouraged customers to keep shopping in the days ahead. China’s exports surge while imports dip amid rising US tariffs “We've stocked up and stand ready to make sure your orders arrive smoothly during this time,” Temu's statement said. “Were doing everything we can to keep prices low and minimize the impact on you.”

Bernard Arnault, chairman and CEO of French luxury conglomerate LVMH, called on Thursday for a free trade zone between the European Union and the United States and said that unresolved trade tensions could seriously hurt European industries. His remarks, in the wake of the tariffs announced by President Donald Trump, appeared to echo a similar call by Elon Musk on April 5 for a zero-tariff zone between the U.S. and EU. The EU has long pushed for a “zero-for-zero” trade agreement — with both sides dropping tariffs — but Trump has rejected the offer. Speaking at LVMH’s annual shareholder meeting, Arnault said European leaders should negotiate “cleverly” with the U.S. administration and that national governments should take a more prominent role instead of than leaving negotiations solely in the hands of Brussels, the center of EU’s “bureaucratic power.” Trump joins tariff talks with Japan as US seeks deals amid trade wars France’s LVMH has for decades been the world’s dominant luxury group — known for products such as Moët & Chandon Champagne, Hennessy Cognac, Louis Vuitton handbags and Dior perfumes — but this week lost its title as the world’s largest luxury company to rival Hermès. “Europe is not run by a political power, but by a bureaucratic power that spends its time issuing regulations that are unfortunately imposed on all member states and that penalize our business sectors,” the 76-year-old CEO said. The European Commission, the EU’s executive branch, negotiates trade deals on behalf of all 27 member states. The bloc is the largest trading entity in the world. LVMH shares fell 7.8% earlier this week, following an unexpected drop in first-quarter sales. Arnault said the company may be forced to expand U.S. operations. "We would be forced to increase our American production to avoid tariffs if Europe failed to negotiate with intelligence,” he said. In 2019, LVMH shifted part of its production to the U.S. by opening a Louis Vuitton workshop in Alvarado, Texas, during Trump’s first term. Trump and Arnault toured the facility together, promoting it as a symbol of U.S. manufacturing revival. But on Thursday, Arnault admitted the Texas site has underperformed so far. According to documents presented at the meeting, the U.S. accounts for 25% of LVMH’s total sales. Arnault also criticized France’s proposed corporate tax increases, calling them a “tax on ‘Made in France’” and warned they could push companies to relocate abroad. He praised the U.S. model, citing lower taxes and state-backed industrial investment. “When you come back to France after spending a few days in the U.S., it’s a bit of a cold shower,” he said.

Importers who opened or amended letters of credit (LCs) for yarn on or before April 13 will be allowed to bring in cotton through land ports, the National Board of Revenue (NBR) said on Thursday. The clarification came amid confusion following the recent government ban on yarn imports through land ports. On April 13, the NBR suspended the import of yarn including cotton yarn through major land ports such as Benapole, Bhomra, Sonamasjid, Banglabandha, and Burimari. The move followed a request from the Bangladesh Textile Mills Association (BTMA) and recommendations from the Commerce Ministry. The decision aims to support local yarn producers and curb under-invoicing of imported yarn. The ban applies to all importers including 100% export-oriented industries and took effect immediately.    

Trading at the Dhaka Stock Exchange (DSE) began on a positive note on Thursday, the week's final working day, with the key index advancing, while the Chattogram bourse continued its recent downward trend, remaining in negative territory. During the first two hours of trading, the DSEX, the benchmark index of the DSE, rose by 8 points. The Shariah-based index (DSES) posted a marginal gain, while the blue-chip index (DS30) advanced by 2 points. DSE, 2 other South Asian stock markets unite to drive regional growth Despite the index ticking upwards, overall turnover remained sluggish due to the recent bearish spell. Whereas turnover would often surpass Tk 200 crore during the first half in previous sessions, it stood below Tk 150 crore on this day. The share prices of most participating companies increased. A total of 161 companies saw their share prices rise, while 132 declined and 96 remained unchanged. Meanwhile, the Chattogram Stock Exchange (CSE) could not shake off its ongoing slump. In the first half of the session, the CSE’s overall index dropped by 73 points. A majority of the stocks traded on the CSE saw a decline. Out of the traded issues, 66 companies experienced a fall in share price, 33 recorded gains and 24 remained unchanged. The turnover at the CSE during the first two hours reached Tk 2.3 crore.