United News of Bangladesh

The sixth international group art exhibition, 'Beyond the Surface', organised by the Chironton Art Group, will begin on Thursday at the newly established Gallery MAFA in Lalmatia. The five-day exhibition features 21 artists from six countries and is curated by artist Mahfuza Beauty. With the participation of both senior and emerging artists from Bangladesh, alongside creators from Canada, the United States, Bosnia and Herzegovina, Nepal and India, the exhibition seeks to explore beauty, emotion, inquiry, self-discovery and the deeper layers of the human psyche through 65 artworks in various media. The featured Bangladeshi artists are Wakilur Rahman, Sultanul Islam, GM Khalilur Rahman, Jahan Afroz, Shammy Yasmin, Dipro Bonik, Sadia Hussain, Mohammad Asadurjaman Aslam Molla, Zakia Ferdous, Monira Begum Lipe, Samir Kumar Bairage, Sunipa Islam, Nazmoon Akhter, Asif Reza Haque and Fahmida Khatun. The exhibition will also showcase works by American artist Jim Matthew, Canadian artist Clyde Finley, Alisa Teletovic of Bosnia and Herzegovina, Nepal's D.B. Yamphu Kirat, and Indian artists Manoj Das and Debarati Mukherjee. Mahfuza Beauty, founder and curator of Chironton Art Group, said the exhibition serves as an important platform for artistic practice, cultural exchange and creative expression. "Artists from different parts of the world have presented their unique perspectives, experiences and contemporary artistic ideas here," she said. By bringing together diverse media, themes and styles, the exhibition offers visitors an opportunity to explore the multidimensional forms of contemporary art from a fresh perspective, she added. Members of the media are invited to attend and cover the opening ceremony and subsequent exhibition activities.  

Unless irregularities in Bangladesh’s macroeconomic management are addressed, incidents similar to the large-scale looting of banks witnessed in the past could recur in the future, warned Centre for Policy Dialogue (CPD) Distinguished Fellow Dr Mustafizur Rahman on Tuesday. “The problems in the banking sector did not originate within the sector alone, and their solutions also do not depend solely on banking reforms. First and foremost, the macroeconomy must be put in order,” he said while speaking at a seminar on the upcoming national budget and the banking sector organised by Unnayan Samannay at its Banglamotor office. Mustafizur said every economy rests on a strong foundation, and in Bangladesh’s case that foundation is heavily dependent on the banking sector. Any major disruption to banking, he noted, will have far-reaching consequences for the entire economy. “Due to the mountain of non-performing loans, interest rates have had to be increased, investment has slowed, and inflation has remained elevated. The burden of these problems has ultimately fallen on ordinary people,” he said. Emphasising the importance of political economy, the economist said improvements in governance and political institutions will positively influence macroeconomic management, which in turn will help restore depositors’ confidence in the banking system. “Good politics leads to good economics. It is difficult to sustain good politics under a dysfunctional economic system, and the July uprising demonstrated that reality.”   He also argued that stabilising the economy should take precedence over pursuing higher GDP growth at the moment. “The economy is currently facing a fire of destruction that must first be extinguished. Once stability is restored, attention can return to accelerating GDP growth.” Referring to Bangladesh Bank’s proposed Tk 60,000-crore refinancing scheme aimed at reviving closed factories, Mustafizur urged the central bank to exercise the highest level of caution in disbursing the funds. “If any portion of this money is misappropriated, the refinancing mechanism itself could come under serious strain. Those who have genuinely suffered should be the primary beneficiaries of such loans.” Describing inflation control as one of the biggest challenges for the upcoming budget, he said inflation will begin to ease once investment gains momentum. “Investment does not depend solely on lower interest rates. Greater emphasis should be placed on implementing the single-window service and removing bottlenecks at ports.” The CPD economist also noted that the forthcoming budget envisages higher operating expenditures while much of the Annual Development Programme (ADP) remains debt-financed. “Bangladesh cannot rely only on a bank-based economy. The equity market, securities market and bond market must also be strengthened to diversify sources of financing.” Highlighting Bangladesh’s growing integration with the global economy, he stressed that international credit ratings and assessments could no longer be ignored. “If banks receive poor ratings, raising funds from abroad will become increasingly difficult, leaving the country with little option but to borrow at higher costs.” Although Bangladesh has secured additional time before graduating from the Least Developed Country (LDC) category, Mustafizur said there is no room for complacency. He said the country must begin preparing now for challenges associated with the loss of patent protections, duty-free market access and other graduation-related benefits, and that the upcoming budget should reflect those preparations.

US Ambassador to Bangladesh Brent T. Christensen on Tuesday paid a courtesy call on Leader of the Opposition and Jamaat Ameer Md Shafiqur Rahman at his office at the Jatiya Sangsad Bhaban. During the meeting, the two sides discussed a range of issues of mutual interest, according to a press release. The discussions focused on Bangladesh’s political and economic situation following the recent election, the upcoming national budget, prospects for expanding bilateral trade and investment, and various aspects of Bangladesh-US relations. Issues relating to the development of democratic institutions, the promotion of good governance, enhanced economic cooperation, and a number of regional and international matters also featured prominently in the talks. Both sides expressed their expectation of further strengthening the existing relationship between Bangladesh and the United States on the basis of mutual respect, trust and cooperation.

The government’s flagship Startup Bangladesh initiative has so far invested around Tk 109 crore in 36 approved technology-driven startups, Posts, Telecommunications and ICT Minister Faqir Mahbub Anam told Parliament on Tuesday. Responding to a starred question from ruling party lawmaker Md Ashraf Uddin (Narsingdi-5), the minister said Startup Bangladesh is currently operating under a combined funding structure that includes a proposed Tk 400 crore Fund of Funds and a Tk 300 crore Co-Investment Fund. "The government has also taken initiatives to gradually increase the total fund size to Tk 1,000 crore in phases to expand startup financing and attract greater private and international investment," he said. According to the minister, a total of 55 startups were initially approved for investment under Startup Bangladesh. However, 19 were later excluded during due diligence and negotiation stages due to inconsistencies and disagreements over investment terms. Of the remaining 36 approved startups, investments have been made in a wide range of technology and innovation-based ventures, including ride-sharing, edtech, fintech, logistics, healthtech and e-commerce platforms. The investment portfolio includes companies such as Pathao Limited, Chaldal Limited, 10 Minute School, Shohoz, Shikho and MedEasy, among others. Officials said these investments have significantly contributed to the country's startup ecosystem, creating more than 7,000 direct jobs and helping portfolio companies achieve average revenue growth of nearly five times. The startups have also paid over Tk 180 crore in taxes, which is nearly 1.7 times the total amount invested by Startup Bangladesh. The minister said the portfolio companies are expanding into international markets, attracting follow-on investments and developing sustainable business models. According to official data, about 80 percent of the investments have demonstrated positive growth performance. However, the ICT Division clarified that Startup Bangladesh does not provide direct loans, as its mandate focuses on equity and equity-linked investments in promising startups. To address the broader financing gap in the sector, the government is also working on specialised funding instruments to support early-stage innovation and entrepreneurship in the country, the minister added.

Islami Bank Bangladesh PLC, one of the largest private commercial banks, has hit a severe liquidity crisis, forcing it to seek Tk 10,000 crore in emergency liquidity support from the central bank. Amid agitation on the 7th day for resignation of Chairman Khursid Alam and mass withdrawal of cash, the bank requested the assistance after failing to maintain its required Cash Reserve Ratio (CRR) due to a significant drop in its current account balance at Bangladesh Bank. A top official of Islami Bank confirmed the development, stating that the bank's liquidity came under massive pressure following recent large-scale deposit withdrawals by panic-stricken clients. "While our principal account with Bangladesh Bank remains positive, a severe CRR deficit has been created. The balance in our principal account has fallen below the regulatory limit required to maintain the CRR," the official explained. According to bank sources, Islami Bank’s balance in its principal account with the central bank has plummeted to approximately Tk 2,600 crore, down drastically from its previous position of around Tk 7,015 crore. To tackle the sudden shortfall, the bank officially requested a Tk 10,000 crore liquidity injection from Bangladesh Bank. Insiders attribute this sudden cash crunch to growing consumer anxiety surrounding the recent leadership shakeup at the bank. Estimates suggest that customers have pulled out nearly Tk 4,000 crore from the bank within a short period. The bank had previously suffered a devastating liquidity crisis during the tenure of the ousted Awami League government, driven by massive financial irregularities and aggressive loan disbursements linked to the controversial S. Alam Group. During that period, the bank repeatedly failed to maintain its CRR and slid into a negative balance in its current account with the central bank. Although the bank had slowly recovered under the interim government—climbing out of its CRR deficit and stabilizing its central bank current accounts—fresh instability emerged recently. On May 24, following advice from Bangladesh Bank, the bank's then-chairman Professor M Zubaidur Rahman resigned. On the same night, former central bank deputy governor Khurshid Alam was appointed as the new chairman. Since then, groups of shareholders and customers have been holding protests opposing his appointment, leading to a renewed wave of panic withdrawals.  

Finance Minister Amir Khosru Mahmud Chowdhury on Tuesday told Parliament that Bangladesh requires an additional subsidy of approximately Tk 42,600 crore for four sectors –oil, gas, electricity, and fertiliser— in the outgoing fiscal year of 2025-2026 due to the conflicts in the Middle East. “Recent conflicts in the Middle East, including Iran, and the instability in the global energy market have put additional pressure on the (Bangladesh) government's subsidy spending in the oil, gas, electricity, and fertiliser sectors. According to preliminary estimates, the additional subsidy requirement in these four sectors alone is about Tk 42,600 crore by June in the 2025-26 Fiscal Year,” he said. The finance minister said this, while responding to a starred question from ruling party lawmaker SM Jahangir Hossain (Dhaka-18) who asked to know whether Bangladesh incurred any economical or business loss due to the recent war in the middle east.   Of the additional amount of the subsidy, some Tk 10,258 crore may be required for oil, Tk 11,170 crore for gas, Tk 19,821 crore for electricity and Tk 1,350 crore for fertiliser, he said. Amir Khosru said the Middle East conflict  has posed both immediate and potential risks to the Bangladesh economy. “So far, the impact has been mainly visible in the areas of fuel, fertiliser, import costs, transport costs, inflation, foreign exchange management, remittances and foreign employment,” he said. He said the increased prices of fuel oil, LNG and fertilisers in the international market have put pressure on import costs and production costs. The energy price-hike could increase costs in the electricity, transport, agriculture and industrial sectors, which can indirectly affect market prices and inflation. As the Middle East is an important destination for Bangladeshi expatriate workers, the prolonged instability can also pose risks to foreign employment and remittance inflows, he said. Noting that the government is closely monitoring the situation, the finance minister said a number of steps are being taken to address the current situation such as sources diversification for energy imports, exploring local gas, maintaining normal supply of essential goods, remaining cautious over foreign exchange management, and exploring alternative labour markets.  

A colorful dinner featuring traditional Filipino cuisine was arranged in the capital’s Baridhara area on Monday evening with presence of distinguished diplomats, development professionals, academics and corporate leaders. Masud Jamil Khan, Deputy Managing Director (DMD) of Cosmos Group and Honorary Consul of Ireland in Bangladesh and his wife Kate Jaro Khan hosted the event at their residence, highlighting the rich culinary heritage of the Philippines and the spirit of international friendship. Diplomats from various countries, representatives of international organisations, and distinguished personalities from the corporate and academic sectors gathered at the event. Among the guests were renowned scholar-diplomat and former Advisor on Foreign Affairs of a caretaker government Dr Iftekhar Ahmed Chowdhury, Executive Editor and Online Editor of The Daily Inqilab Fahima Bahauddin, UNESCO Bangladesh Head of Education Norihide Furukawa, Standard Chartered Bangladesh Managing Director Emamul Huq and BRAC University Professor Dr Ainun Nishat. Guests enjoyed a variety of traditional Filipino dishes while engaging in discussions on cultural exchange, mutual understanding and international cooperation. Held in a warm and friendly atmosphere, the dinner served as a platform for networking and interaction among diplomats, academics and corporate leaders from different countries. The hosts said such gatherings play an important role in strengthening mutual understanding, friendship and cultural ties among people from diverse backgrounds.  

The Executive Committee of the National Economic Council (ECNEC) on Tuesday approved eight development projects involving an estimated cost of Tk 2,266.41 crore. The approval came at an ECNEC meeting chaired by Prime Minister and ECNEC Chairperson Tarique Rahman at the Cabinet Division of Secretariat. Of the total project cost, the government will provide Tk 2,229.13 crore while implementing agencies will contribute Tk 37.28 crore from their own funds. Among the approved projects, three are new and three revised while two projects granted time extensions. Briefing reporters after the meeting, Planning Ministry officials said the approved projects cover the sectors of water resources, transport infrastructure, public administration, health, education and power. Among the major projects approved was the first-phase maintenance and rehabilitation of the Barishal Irrigation Project under the Ministry of Water Resources. The meeting also cleared a project to upgrade the Anwara-Banshkhali-Toitong-Pekua-Badarkhali-Chakaria (Idmani) regional highway to the required standard and width. A project for installing lifts at circuit houses and deputy commissioners’ offices in 33 districts, including Thakurgaon, was also approved. In the health sector, ECNEC approved the second phase of the Bangladesh Shishu Hospital and Institute Expansion Project. The committee also approved the first revised project for the expansion of existing grid substations and transmission lines under the Ministry of Power, Energy and Mineral Resources. Other approved schemes include the second phase of the Cancer Centre construction project at CMH Dhaka, the third revision of the Madrasa Education Management and Information System (MEMIS) Support Project, and the third revision of a project to establish multimedia classrooms in 653 madrasas across the country. During the meeting, ECNEC was also informed about six projects costing less than Tk 50 crore each that had already been approved by the Planning Minister. These include revised projects on water supply and sanitation services in 30 municipalities, waste management and mechanised parking facilities in areas under Dhaka South City Corporation, expansion of postal services, infrastructure development of the MES Training Cell at Dhaka Cantonment, the second phase of a child marriage prevention initiative, and the revised Paikgachha Agricultural College establishment project in Khulna. Several ministers and senior government officials attended the meeting.

Dr. Zubaida Rahman, renowned cardiologist and Vice President of Ziaur Rahman Foundation, is scheduled to visit the University of Dhaka (DU) on Wednesday. Ziaur Rahman Foundation issued a press release in this regard on Tuesday. The foundation is set to organise a month-long tree plantation programme and ‘Search for Future Scientists Science Fair 2026’, marking the 45th death anniversary of former President Ziaur Rahman. Zubaida Rahman has consented to inaugurate the programmes as the chief guest at 11 am on Wednesday at the Central Gallery of the Department of Botany, Curzon Hall, University of Dhaka, it said. DU Vice-Chancellor Professor Dr ABM Obaidul Islam will attend the event as a special guest while ZRF Acting Executive Director Professor Dr Morshed Hasan Khan will preside over the programme.

An activist of banned Bangladesh Chhatra League (BCL) was hacked to death by unidentified assailants on Shilashi Mazar Road in Gafargaon upazila of Mymensingh while returning home after celebrating his birthday with friends early Tuesday. The deceased was identified as Nahian Robin, 27, son of Mofazzal Hossain of Shilashi village under Gafargaon municipality. He was affiliated with a faction of BCL led by local Jubo League leader Tajmul. According to police and local sources, Robin, the only son of his parents, celebrated his birthday with friends on Monday night. After the celebration, he was returning home on a motorcycle with a friend around 12:45 am. When they reached Shilashi Mazar Road area, a group of five to six masked assailants, who had reportedly been lying in wait, intercepted the motorcycle and  hacked Robin, leaving him critically injured before fleeing the scene. Locals rescued him and took him first to Gafargaon Upazila Health Complex and later to Mymensingh Medical College Hospital where doctors declared him dead. Gafargaon Police Station Officer-in-Charge (OC) Md Atikur Rahman said a Chhatra League activist named Rajib was detained in connection with the murder. “We believe the killing was linked to an internal dispute within Chhatra League. Necessary legal steps are being taken,” the OC said.