United News of Bangladesh

United Group has brought global recognition to Bangladesh by winning the “Bangladesh Operational Innovation of the Year – Energy” award at the Asian Innovation Excellence Awards 2025, held at the Marina Bay Sands Expo & Convention Centre in Singapore. The award honors United Power Generation & Distribution Company Ltd. (UPGDCL), a concern of United Group, for its groundbreaking approach to operational innovation in power generation and distribution. This achievement highlights Bangladesh’s growing ability to deliver sustainable, efficient, and technology-driven energy solutions. BAJUS announces new executive committee; Enamul Haque president Organized by the Asian Business Review, the Asian Innovation Excellence Awards celebrate leading organizations across Asia that are transforming industries through innovation and leadership. Representing United Power, Shish Swapnik, Head of Group Brand & Communications, received the award at the ceremony in Singapore. Reflecting on the accomplishment, Swapnik said the achievement belongs to the entire United Power family, whose relentless commitment to innovation and efficiency continues to strengthen Bangladesh’s energy landscape. “It is truly inspiring to see our local efforts being recognized on a global stage,” he added. Abdur Rahim Khan appointed FBCCI administrator This milestone reflects United Group’s ongoing commitment to driving Bangladesh’s progress through innovation, sustainability, and operational excellence. As one of the country’s most diversified business groups, United Group continues to shape industries that contribute to national growth and global competitiveness.

Bangladesh Bank has laid out a clear two-phase mechanism for depositors of five merging Shariah-based banks to recover their funds, prioritising small savers and ensuring the security of all deposits as the banks are consolidated into a single new entity. Governor Dr Ahsan H Mansur provided the assurance while to UNB on Thursday, urging depositors to have ‘nothing to worry about’ as the central bank is committed to safeguarding their money. No Compensation for Shareholders Dr Mansur said the shares held by sponsor shareholders and general investors in the five banks undergoing merger will be valued at zero. No compensation will be provided to any shareholder. “The net asset value (equity) of the five banks has now reached a negative state,” the Governor explained, adding that the maximum deficit, against the Tk 10 face value per share, stands at Tk 450, effectively rendering the shares worthless. “Neither the sponsor shareholders nor the general investors will receive any compensation. Their investment equity has been wiped out due to the substantial deficit,” Dr. Mansur added. However, while the shares currently hold zero face value, profits generated by the merged entity in the future will be distributed, according to central bank officials involved in the merger policy. The five Shariah banks -- the five banks declared 'non-viable' and placed under the merger plan are First Security Islami Bank PLC, Global Islami Bank PLC, Union Bank PLC, EXIM Bank PLC and Social Islami Bank PLC (SIBL) -- are being merged into a single institution under a central bank decision aimed at stabilising the sector. While depositors’ funds are fully protected, shareholders will bear the full impact of the banks’ negative equity, officials said.  

Bangladesh Export Processing Zones Authority (BEPZA) has signed agreements with four companies to set up industries at the BEPZA Economic Zone in Mirsarai, Chattogram, involving a total investment of US$111.26 million and creating employment for 7,607 Bangladeshis. The agreements were signed on Thursday at the BEPZA Complex in Dhaka. Among the four investors, three are fully foreign-owned enterprises from China, Singapore and a China-Singapore joint venture, while one is a Bangladeshi firm. The new industries will produce footwear, processed leather, testing and quality assurance services, and garments accessories. China’s Tai Ma Shoes (BD) Company Limited is making the largest investment, committing US$55.05 million to establish a footwear manufacturing plant. The factory will have an annual capacity of 7 million pairs of formal and casual shoes and is expected to employ 5,900 local workers. Singapore-based Bangladesh Singsin Leather Company Limited will invest US$25.03 million to set up a leather processing facility. The plant will produce 36 million square feet of finished leather annually from crust leather and create 480 jobs. Anre Holding (BD) Company Limited, a China-Singapore joint venture, will invest US$20.03 million in establishing a testing laboratory. The facility will provide quality testing services for raw materials and finished products, mainly supporting industries operating in the BEPZA Economic Zone. The project will employ 770 local workers. Bangladeshi company Raptox Industries Limited will invest US$11.15 million to manufacture labels, tags, tapes, printing and packaging materials, and other garments accessories. The project, with a production capacity of 20,000 metric tonnes per year, will generate employment for 457 people. BEPZA Member (Investment Development) Md Ashraful Kabir signed the agreements on behalf of BEPZA, while representatives of the respective companies signed on their behalf. BEPZA Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony as chief guest. Welcoming the new investors, the BEPZA Executive Chairman expressed gratitude for choosing the BEPZA Economic Zone as their investment destination. Moazzem Hossain reaffirmed BEPZA’s commitment to providing continuous support to ensure smooth business operations. He said BEPZA is modernising its service delivery system to further enhance investor satisfaction. Moazzem Hossain encouraged the new companies to begin construction quickly and commence export operations, while also calling on them to promote investment opportunities in the electronics sector. During the event, BEPZA Member (Investment Development) Ashraful Kabir invited Chinese investors to explore opportunities in the upcoming Jashore and Patuakhali EPZs, which are being developed as future industrial hubs. JC, Chairman of Singsin Group PTE Ltd, said, “We are highly satisfied with BEPZA’s services. Choosing the BEPZA Economic Zone has been a good decision for us. We look forward to progressing together.”

Social Islami Bank PLC (SIBL) has incurred a record net loss of over Tk 1,704 crore in nine months (January-September) of 2025. This marks the largest loss ever reported by the bank since its listing on the stock market in 2000, standing in stark contrast to the net profit of over Tk51 crore recorded in the same period of 2024. According to the bank's unaudited financial report for the third quarter (July-September), the net loss after tax for the nine-month period (Jan-Sep 2025) was Tk704.48 crore, sharply down from the net profit of Tk51.16 crore in the corresponding period of last year. The bulk of the losses accumulated during the third quarter (July-September), which alone saw a net loss of Tk 1,235 crore. This is a drastic increase compared to the Tk28.98 crore loss reported in the third quarter of 2024. The massive loss is primarily attributed to a sharp increase in interest expenses and the requirement for substantial provisioning against loans. Interest Payouts: During the January-September period, the bank paid Tk2,444 crore in interest, representing a 32 percent increase year-on-year. This included Tk 1,552 crore paid to depositors and Tk891 crore to cover borrowing costs. The bank had to set aside Tk401 crore as provisioning against loans and advances. Bangladesh’s banking crisis deepens; audit uncovers Tk 1.55 lakh crore shortfall SIBL also registered an operating loss of Tk 648 crore against its income from shares, brokerage commissions, and other sources. An SIBL official, speaking anonymously, confirmed that the primary driver of the damage was the "intense increase in the cost of funds," mainly due to high interest rates offered on deposits and the higher interest paid on borrowed funds. Provisioning against loans at risk of becoming non-performing also played a negative role.

Bangladesh Bank has issued an urgent directive to all Mobile Financial Service (MFS) providers to immediately stop financial transactions linked to online gambling. The central bank sent letters to 13 MFS operators following instructions from the Information and Communication Technology (ICT) Division, instructing them to take strict measures against this illegal activity. According to the directive, MFS operators are required to:Prepare a list of suspicious accounts involved in gambling transactions.Form a dedicated task force to monitor and prevent illicit financial flows.Implement AI-based monitoring systems to detect and flag gambling-related transactions in real-time. Nagad to be privatised to boost MFS competition: BB GovernorEstablish a public reporting mechanism, including a portal and helpline, for registering complaints related to gambling. Bangladesh Bank has also scheduled a review meeting with seven MFS operators on November 6. The discussion will focus on the effectiveness of current control and monitoring systems, the capacity of MFS providers to implement new measures, and the support needed to curb online gambling transactions.

The Bangladesh Jewellers Association (BAJUS) on Monday announced its 35-member executive committee for the 2025–26 and 2026–27 terms. The new committee was unveiled at the association’s head office by Election Board Chairperson Nasrin Fatema Auwal, who expressed optimism, saying, “The current BAJUS committee will be even more successful than the previous one.” Enamul Haque Khan, owner of Diamond & Divas Jewellery, has been elected as the new President of BAJUS. Sananda Jewellers Limited owner Ranjit Ghosh was elected Senior Vice President, while Azad Ahmed, Abhi Roy, and Iqbal Hossain Chowdhury were chosen as Vice Presidents. Amit Ghosh will serve as Treasurer. In his first remarks as President, Enamul Haque said gold traders are often wrongly associated with smugglers. Swinging gold price: BAJUS hikes rates just days after a cut “No genuine gold trader is a smuggler,” he said, pledging to work towards reducing VAT on gold to 1.5 percent. “In India, VAT on gold is 2 percent, while in Bangladesh it is higher. Until the import issues are resolved, we’ll continue pushing for the reinstatement of baggage rules,” he added. The newly elected BAJUS committee is expected to officially assume office by December 15.

Grasping the real worth of gold starts with understanding what 'gold carat (karat)' means – a measure that reveals how much pure gold lies beneath its polished surface. This proportion of gold blended with other metals ultimately shapes the metal’s quality, character, and purpose. It distinguishes the brilliance of fine jewellery from the strength of everyday pieces. Let’s explore this spectrum by comparing the different types of gold carats (karats) to see how purity levels influence both beauty and practicality. What is Carat (Karat)? Essence of Gold’s Measurement Gold’s fineness – more commonly referred to through its carat value – serves as a precise indicator of purity. Since genuine gold is naturally soft and malleable, it cannot endure frequent wear or pressure without losing its shape. To strengthen it for practical use in jewellery, utensils, and coinage, gold is typically blended with small portions of other metals like silver, copper, or nickel. These combinations add durability, colour tone, and overall value, creating a delicate balance between beauty and resilience. Each carat represents one twenty-fourth of the total composition – meaning every unit reflects 4.1667% purity. For instance, a 14-carat piece contains fourteen parts gold mixed with ten parts alloy, while a 24-carat piece stands as the benchmark of purity, free from any metallic additions. Read more: Gold Investment in Bangladesh in 2025: Safe Haven or Risky Bet? Comparative Analysis of Different Types of Gold Carats (Karats) Gold’s purity scale varies widely, giving each carat grade its own visual tone, strength, and value. The following comparison explores how different carat levels influence the metal’s appearance and its suitability for daily wear and investment. Type Durability Color Tone Gold Fraction Hallmark Purity (%) Common Uses 24K Very soft, scratches and bends easily Bright, rich yellow/orange hue 24/24 999 99.9 or Higher Investment (coins, bars), electronics, medical devices, ceremonial items 22K More durable than 24K, but still soft Rich, vibrant yellow, slightly less intense than 24K 22/24 916 91.6 Traditional jewelry, special occasion pieces, bangles, necklaces 21K Moderate/Soft; more durable than 22k Very rich, deep yellow tone 21/24 875 87.5 Traditional jewelry (like bangles and necklaces) 20K Moderate Durability; softer than 18k Rich, deep yellow tone, close to pure gold's appearance 20/24 833 83.3 High-quality, vintage, and special jewelry 18K Good balance of purity and durability; prone to scratches Rich, warm yellow; available in white and rose gold 18/24 750 75.0 Fine jewelry, engagement rings, wedding bands, and high-end watches, suitable for daily wear with care 15K Durable Warm, rich yellow tone, but still slightly less intense than 18k 15/24 625 62.5 Historically used in vintage jewelry; less common in modern production 14K Highly durable, resistant to wear and tear Warmer yellow, but slightly paler than 18K; available in white and rose gold 14/24 583 58.3 Most popular for everyday jewelry (engagement rings, earrings, bracelets), active lifestyle wear 12K Durable Medium yellow color 12/24 500 50.0 Often used in industrial applications, older jewelry, and items like watch cases 10K Most durable and resistant to damage Light/pale yellow, less vibrant 10/24 417 41.7 Budget-friendly, sturdy pieces for heavy use, like simple chains and rings 9K Highly Durable/Hard; resistant to scratches Lighter yellow tone; can tarnish slightly more than higher carats 9/24 375 37.5 Widely used for everyday jewelry; popular for wedding bands and items needing resilience 8K Very Durable/Hard, but can be brittle; prone to tarnishing Pale yellow, less rich than higher carats 8/24 333 33.3 Budget-conscious jewelry and items 6K Very Durable/Hard, can be more brittle Very pale yellow; often needs surface treatment or plating to achieve a richer color 6/24 250 25.0 Primarily found in extremely budget-friendly or mass-market items; Uses are very limited Read more: Gold Buyer's Guide: Know the types, colors, karats of the precious metal

Barely 24 hours after raising prices by over Tk 8,000 per bhori, the Bangladesh Jewellers Association (BAJUS) has announced a reduction in gold prices once again. In a new decision, BAJUS has lowered the price of 22-carat gold by Tk 2,613 per bhori, setting the new rate at Tk 200,296 per bhori, effective from Friday. The association, in a statement, said that the price of pure gold (tejabi) has fallen in the local market, prompting the latest price adjustment. According to the new rate, the price of 21-carat gold will be Tk 190,998 per bhori, 18-carat gold Tk 163,716, and traditional method gold Tk 136,014 per bhori. BAJUS also noted that the government-fixed 5 percent VAT and a minimum making charge of 6 percent must be added to the selling price of gold ornaments. However, the making charge may vary depending on design and quality. Earlier, on October 29, BAJUS adjusted the gold price, increasing the rate of 22-carat gold by Tk 8,900 per bhori to Tk 202,709. On October 22, the price had reached a record high of Tk 217,000 per bhori, the highest in Bangladesh’s history. After four consecutive reductions, the price dropped to Tk 194,000 before rising again above Tk 200,000 per bhori. With this, the association has adjusted gold prices 72 times so far this year, increasing rates 49 times and reducing them 23 times. In 2024, the price was revised 62 times, with 35 hikes and 27 cuts. Meanwhile, silver prices remain unchanged. The price of 22-carat silver is Tk 4,246 per bhori, 21-carat Tk 4,047, 18-carat Tk 3,476, and traditional method silver Tk 2,601 per bhori. So far this year, silver prices have been revised nine times — increased six times and decreased three times. Last year, the rate was adjusted three times.

The remittance inflow to Bangladesh has surpassed $10 billion in the first four months (July–October) of the 2025-26 fiscal year. According to information provided on Thursday by Bangladesh Bank’s Assistant Spokesperson Shahriar Siddiqui, the remittance inflow exceeded $10 billion within the first 29 days of October, marking a 14.5 percent increase compared to the same period in FY 2024-25. In the same period last fiscal year, total remittance inflow stood at $8.75 billion. During the first 29 days of October alone, $2.43 billion was remitted through the country’s banking channels, up 10.2 percent from $2.20 billion in October 2024. On October 29 alone, remittance inflow was $93 million. In September 2025, remittance inflow amounted to $2.68 billion, recording a 12 percent increase over September 2024. In August, remittance reached $2.42 billion, up 9 percent year-on-year. In the first month of the fiscal year, July, remittance inflow was $2.47 billion. Banking sector officials said robust growth in expatriate earnings has positively impacted the country’s foreign currency reserves, easing pressure on the dollar in the exchange market. Strict government measures against illegal money transfers and incentives to encourage sending earnings through legal channels have played a key role in boosting remittance inflow. According to the latest Bangladesh Bank data, the country’s gross foreign exchange reserves currently stand at $32.14 billion, while reserves under the IMF’s BPM6 standard have increased to $27.34 billion. In FY 2024-25, remittance from overseas Bangladeshis hit a record $30.33 billion, up nearly $6.5 billion or 27 percent compared to FY 2023-24.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Mahmud Hasan Khan on Tuesday urged the government to review the recently approved Bangladesh Labour (Amendment) Ordinance 2025 as several of its provisions could destabilise the industrial sector and undermine Bangladesh’s export competitiveness ahead of its LDC graduation. Country’s manufacturing industries are already under ‘unprecedented pressure’ due to global economic challenges, rising domestic costs, and policy uncertainties, he said at an emergency press conference held at BGMEA’s Nurul Qader Auditorium in Dhaka. Hasan Khan expressed deep concern over several provisions in the new labour amendment, particularly the decision to allow trade unions in factories with as few as 20 workers. “This is an unrealistic and destabilising decision,” he said. “Such a low threshold will allow individuals unrelated to the industry to form unions, causing internal conflict and disruption in production.” AI reshaping Bangladesh’s industrial, service sectors: DCCI President He noted that in India, at least 10% of workers or a minimum of 100 workers are required to form a union while in Pakistan, the threshold is 20%. “Compared to these standards, Bangladesh’s provision is the weakest in South Asia. It will send a negative signal to foreign investors,” he added. The BGMEA president also objected to the approval of both the ‘Bhobisshot Tohobi’l and ‘Progoti’ schemes simultaneously, allowing workers to participate in both. “This will force employers to run two parallel financial systems,” Khan said, calling it a recipe for administrative disorder and higher costs. He cited examples from India, Pakistan, Vietnam, and Sri Lanka — all of which operate under a single national pension or provident fund structure. Turning to the recent 41% increase in Chattogram Port tariffs, the BGMEA president said the decision would further burden export-oriented industries already facing steep operational costs. Newly elected leadership of Petrobangla Officers' Association takes oath  “Chattogram Port is not a loss-making entity; it consistently reports profits. As a public service provider, its goal should not be profit maximisation,” he said. The BGMEA chief outlined multiple cost escalations facing the industry: 56% minimum wage increase effective from December 2024, 9% annual wage increment, higher gas and diesel prices, a 60% reduction in export incentives since 2023, and persistently high bank interest rates. “These factors have already raised production costs significantly,” he said.  “The issues we have raised — labour law reform, port tariff increases, and LDC transition — are not short-term concerns. They will shape our future generations’ economic reality,” he said. “On behalf of all export-oriented industries, we urge the government to take prompt, positive, and effective measures that align with the real needs of industry, workers, and the national economy,” he added.  He urged the government to take a business-friendly and pragmatic approach to sustain competitiveness as Bangladesh moves toward LDC graduation. He also called for urgent action to resolve gas shortages, simplify customs and NBR procedures, ensure efficient logistics and infrastructure, and expand access to affordable financing.