United News of Bangladesh

BRAC Enterprises has opened its Greenpak factory in the Tongi Industrial Area of Gazipur, marking a significant step towards advancing environment-friendly and sustainable packaging solutions in Bangladesh.  The facility, which was inaugurated on Tuesday, has the capacity to produce 300–350 tonnes of eco-friendly, biodegradable packaging annually. Unlike conventional plastic, the biodegradable products manufactured at the factory naturally decompose within six months. BRAC Bank celebrates silver jubilee with exclusive offers for customers The Greenpak factory was formally inaugurated by Tamara Hasan Abed, managing director of BRAC Enterprises. At the event, it was shared that the Greenpak factory is currently producing between 12 and 15 tonnes of eco-friendly packaging each month. Once operating at full capacity, the facility will be able to produce 300-350 tonnes annually.  This production capacity will replace an equivalent volume of conventional plastic packaging each year, significantly reducing the amount of plastic waste entering the environment. The event also highlighted the growing global challenge of plastic pollution. More than 400 million tonnes of plastic are produced worldwide each year, around 40 per cent of which is used for packaging. While conventional plastic can take between 200 and 500 years to decompose, Greenpak's biodegradable products naturally break down within just six months, making them an effective and sustainable alternative to conventional plastic packaging.

Asian stock markets closed lower on Tuesday, led by a sharp fall in South Korean shares, even as AI-related stocks helped lift major US indexes overnight. Oil prices edged higher, while US stock futures showed mixed performance. South Korea's Kospi briefly plunged as much as 8% before recovering some ground to end the day down 4.9% at 7,656.31. Shares of Samsung Electronics dropped 7.7%, despite the company reporting a 19-fold jump in quarterly operating profit to 89.4 trillion won (about $58.7 billion) and more than doubling its revenue. Chipmaker SK Hynix also fell 6.7%. Kim Seok-hwan, an analyst at Mirae Asset Securities, said Samsung's decline was mainly due to foreign investors taking profits after recent gains and adjusting their investment portfolios. Technology stocks linked to artificial intelligence have seen sharp swings in recent weeks as investors question whether the massive spending on AI chips and data centres will generate enough profits to justify the investments. Stephen Innes of SPI Asset Management said the market reaction to Samsung's strong earnings suggested investors were becoming more cautious about AI-related stocks. Investor sentiment will face another test this week as SK Hynix plans to raise $28 billion through a Nasdaq share offering in the United States. If successful, it would rank among the largest US stock offerings, following SpaceX's $75 billion IPO last month. Despite recent losses, SK Hynix shares have more than tripled this year on strong optimism over AI demand. Elsewhere in Asia, Japan's Nikkei 225 fell 2.1% to 68,256.96. Tokyo Electron lost 3.9%, while Kioxia Holdings dropped 11.3%. Hong Kong's Hang Seng Index slipped 0.7% to 23,444.20, while China's Shanghai Composite Index declined 1.3% to 3,990.25. Taiwan's Taiex lost 2.3%. Australia's S&P/ASX 200 edged down 0.3%, while India's Sensex gained 0.5%. On Wall Street, the S&P 500 rose 0.7% on Monday to 7,537.54, moving within 1% of its record high despite most of its listed stocks ending lower. The Nasdaq Composite climbed 1.1% to 26,121.16, driven by gains in AI-related technology companies, while the Dow Jones Industrial Average added 0.3% to close at a record 53,055.91. Broadcom was among the biggest contributors to the S&P 500's gains after rising 3.7% on news of long-term agreements to supply silicon products to Apple. SpaceX fell 1% in its final trading session before joining the Nasdaq-100 index, a move expected to trigger buying by funds that track the benchmark. AI infrastructure company TeraWulf gained 4.9% after announcing a 20-year agreement with Anthropic to use its Kentucky data centre. The company expects the deal to generate about $19 billion in revenue as it shifts its business from bitcoin mining to high-performance computing. In energy markets, Brent crude, the international benchmark, rose 84 cents to $72.83 a barrel, while US benchmark crude increased 73 cents to $69.28. Oil supply concerns resurfaced after the British military reported that a liquefied natural gas tanker caught fire off the coast of Oman in the Strait of Hormuz after being struck by a projectile early Tuesday. The latest attack highlighted continuing security risks in the strategic waterway, through which about one-fifth of the world's oil and natural gas trade once passed during peacetime. Iranian state television reported that the tanker was attacked after ignoring warnings but stopped short of claiming responsibility. In currency trading, the US dollar slipped to 162.01 Japanese yen from 162.09 yen, while the euro eased to $1.1431 from $1.1442.

Md. Anis Ur Rahman, Executive Director of Bangladesh Bank, has been appointed as the Deputy Governor of the central bank for a three-year term. The Financial Institutions Division of the Ministry of Finance issued an official gazette notification to this effect today, Monday (July 6). According to the office order, the appointment has been made by order of the President in accordance with Article 10(4) of the Bangladesh Bank Order, 1972. The notification, signed by Md. Shafi Ullah, Senior Assistant Secretary of the Financial Institutions Division, states that Md. Anisur Rahman has been appointed on a contractual basis for a period of three (3) years from the date of his joining. The appointment is subject to the condition of his voluntary retirement from his current post as Executive Director and the suspension of his Post Separation Leave (PRL). Other terms and conditions of this appointment will be determined by a contract agreement. The order, issued in the public interest, will take effect immediately, the notification added.

The Bangladesh Jewellers Association on Monday reduced the price of 22-carat gold by Tk 3,266 per bhori (11.664 grams), following a decline in the local market price of pure gold. In a statement issued on Monday, BAJUS said the new prices, inclusive of VAT, took effect from 12:15pm after reviewing the overall market situation and the fall in the price of tejabi gold (pure gold) in the domestic market. Under the revised rates, the price of 22-carat gold has been fixed at Tk 225,290 per bhori, including VAT. The price of 21-carat gold has been set at Tk 215,142 per bhori, while 18-carat gold will cost Tk 184,758 per bhori. Gold produced under the traditional method has been priced at Tk 150,932 per bhori. BAJUS said the new rates will remain effective at all jewellery outlets across the country until further notice. However, making charges will vary depending on the design of the jewellery. The association also said customers cannot be charged VAT separately, as VAT is already included in the retail price of gold and silver ornaments. Existing BAJUS rules regarding jewellery exchange and buyback, excluding specified VAT, making charges and the value of gemstones, will remain unchanged. The latest revision comes just three days after BAJUS raised gold prices on July 3, increasing the price of 22-carat gold by Tk 4,374 per bhori to Tk 228,556, including VAT. With the latest adjustment, gold prices have been revised 87 times in Bangladesh so far in 2026. Of those, prices were increased on 43 occasions, reduced 43 times, while one adjustment was made to reflect changes in VAT. Despite the reduction in gold prices, silver prices remain unchanged. Currently, 22-carat silver is selling at Tk 4,899 per bhori, while 21-carat silver is priced at Tk 4,666 per bhori. The price of 18-carat silver stands at Tk 4,024 per bhori, and traditionally manufactured silver is selling at Tk 3,033 per bhori.

The Bangladesh Jeweller’s Association (BAJUS) raised the price of gold for the second consecutive day on Friday, pushing up the rate of 22-carat gold by 4,374 per bhori. The organisation announced the new price through a notice in the morning. According to the new rate, each bhori (11.664 grams) of 22-carat gold will now cost Tk 228,556 in the domestic market, including VAT. BAJUS also fixed the price of 21-carat gold at Tk 218,292 per bhori, 18-carat gold at Tk 187,440 per bhori, and traditional gold at Tk 153,148 per bhori. The association last revised the gold price on July 2, raising it by Tk 2,216 per bhori to set the price of 22-carat gold at Tk 224,182, including VAT. It said the new price will remain effective at all jewellery outlets across the country until further notice, though making charges will apply depending on the design of the ornaments. Since VAT is included in the sale price of gold and silver ornaments, jewellers cannot charge VAT separately from customers. The association's existing rules will continue to be applicable to exchange and purchase of ornaments, excluding specified VAT, making charges and the cost of stones. So far, the price of gold has been adjusted 86 times in the domestic market this year, with 43 hikes, 42 cuts, and one VAT adjustment. Alongside gold, the price of silver has also been increased. The price of 22-carat silver has been set at Tk 4,899 per bhori, up by Tk 117. The price of 21-carat silver has been fixed at Tk 4,666 per bhori, 18-carat at Tk 4,024 per bhori, and traditional silver at Tk 3,033 per bhori. The price of silver has been adjusted 53 times so far this year, with 27 hikes and 26 cuts.

Stock markets across Europe and Asia moved higher on Friday after the Dow Jones Industrial Average closed at another record high, helped by gains in several major artificial intelligence (AI)-related companies, although some chipmakers continued to face selling pressure. Futures for the S&P 500 rose 0.4%, while Dow futures gained 0.2%. US financial markets remained closed on Friday for the Independence Day holiday. In early European trading, Germany's DAX climbed 0.7% to 52,643.30, France's CAC 40 added 0.3% to 8,497.30, and Britain's FTSE 100 advanced 0.4% to 10,689.77. Asian markets also posted solid gains. South Korea's Kospi rebounded 5.8% to 8,088.34 after falling nearly 8% a day earlier. Samsung Electronics rose 8.2%, while chipmaker SK Hynix jumped 10.9%. Japan's Nikkei 225 gained 1.5% to 69,744.07. Chip equipment maker Tokyo Electron edged up 0.4%, while memory chip producer Kioxia surged 9.2%. Hong Kong's Hang Seng index rose 1.3% to 23,345.28, while China's Shanghai Composite added 0.4% to 4,043.64. Taiwan's Taiex increased 0.1%, India's Sensex gained 0.7%, and Australia's S&P/ASX 200 advanced 1.4% to 8,844.40. Stephen Innes of SPI Asset Management said Asian markets regained some stability after two difficult sessions led by losses in technology stocks, with South Korea staging a strong rebound. On Thursday, the Dow Jones Industrial Average rose 1.1% to a record close of 52,900.07. The broader S&P 500 ended almost unchanged, adding less than 0.1% to close at 7,483.24, even though about 70% of its listed companies gained. The tech-heavy Nasdaq Composite fell 0.8% to 25,382.67, weighed down by losses in major chipmakers. Investor sentiment was supported by a US jobs report showing employers added 57,000 jobs in June, below economists' forecast of 100,000 and slower than May's hiring pace. The weaker-than-expected jobs data eased concerns that inflation could remain high. Oil prices, which had surged during the Iran conflict, have now fallen below pre-war levels, raising hopes that inflation may cool in the coming months. If inflation continues to slow, the US Federal Reserve may face less pressure to raise interest rates repeatedly this year. Lower interest rates generally support economic growth by reducing borrowing costs for households and businesses and often boost stock prices. Cryptocurrency-related shares also advanced as bitcoin recovered after recent losses. Robinhood Markets gained 3.8% and Coinbase Global rose 3.9%. Bitcoin was up 0.5% early Friday after climbing about 2% the previous day. Despite the broader market gains, several leading AI-related chip companies remained under pressure as investors questioned whether their rapid share price increases and heavy spending on AI infrastructure would generate the expected profits. Micron Technology reversed early gains to end down 5.5%, following a 10.6% drop the previous day. Nvidia fell 1.4%, while Lam Research slid 10.2%, making them among the biggest drags on the S&P 500. Nvidia remains the largest company in the index with a market value of nearly $4.7 trillion. In commodity trading, Brent crude oil rose 0.6% to $72.26 per barrel, while US benchmark crude gained 0.5% to $69.05 per barrel. In currency markets, the US dollar slipped to 160.97 Japanese yen from 161.11 yen, while the euro strengthened to $1.1450 from $1.1431.

Bangladesh Bank (BB) has approved the introduction of Forward Rate Agreements (FRAs) in import trade to protect local importers from international interest rate fluctuations, particularly involving the Secured Overnight Financing Rate (SOFR). The central bank issued a circular on Thursday allowing Authorised Dealer (AD) banks to sign these agreements with local buyers and borrowers tapping into supplier and buyer credits for usance imports. A Forward Rate Agreement is a financial contract that allows parties to lock in an interest rate for a specific future period, offering an effective shield against future interest rate uncertainty. Usance imports allow businesses to defer their payments for a specified timeframe after receiving the imported goods. Central bank regulations specify that these contracts can only be used for risk-mitigation purposes directly linked to actual import transactions. The guidelines explicitly prohibit any form of speculation or maintaining unprotected financial positions through these derivative contracts. Settlements will be executed based on the difference between the pre-agreed contract rate and the prevailing benchmark rate. To ensure systemic stability and prevent individual banks from carrying excessive market risk, the central bank has imposed strict risk-management guidelines. AD banks must fully offset any contract-related risks through parallel, same-day matching transactions, ensuring they do not hold volatile market risks on their own books. Furthermore, the central bank capped the banks' maximum pricing margin at 10 basis points. The total volume of FRAs executed by an individual bank cannot exceed 25 percent of its average monthly foreign exchange inflows recorded over the past 12 months. The circular emphasises compliance with international contract frameworks, daily mark-to-market valuations, and robust internal risk assessments. In the event of early termination, contracts must be settled based on existing market rates, with meticulous document preservation made mandatory.

Bangladesh's merchandise exports posted a robust 25.91 percent year-on-year growth in June 2026, closing out fiscal year 2025-26 with renewed momentum despite persistent global economic and geopolitical headwinds, according to provisional data released by the Export Promotion Bureau (EPB) on Thursday. The country earned US$ 4,202.69 million from merchandise exports in June 2026, up from $ 3,337.92 million in the same month last year, with broad-based growth recorded across ready-made garments (RMG), leather and leather products, jute and jute goods, home textiles, engineering products, and agricultural products. Total export earnings for the entire fiscal year 2025-26 (July-June) stood at $ 48,001.91 million, remaining largely stable compared to $ 48,283.93 million in the previous fiscal year. The EPB noted that maintaining earnings near the previous year's level, amid geopolitical tensions, global inflationary pressures, supply chain disruptions, energy market volatility, and subdued consumer demand in key markets, reflects the underlying strength and adaptability of the export sector. The RMG sector, the mainstay of Bangladesh's export economy, registered 21.52 percent year-on-year growth in June, earning $ 3,387.71 million against $ 2,787.78 million a year earlier. Knitwear exports grew by 19.49 percent while woven garments rose 24.02 percent during the month. The sector contributed $ 38,701.15 million to overall export earnings in FY26. Several other sectors also posted strong gains. Leather and leather products exports rose 47.68 percent in June and 7.09 percent for the fiscal year, reaching $ 1.23 billion. Jute and jute goods recorded a 76.60 percent jump in June and 7.75 percent growth for the year, totalling $ 883.69 million. Home textiles grew 59.95 percent in June and 6.52 percent for FY26, while engineering products posted 44.74 percent growth in June and 21.77 percent for the fiscal year. Agricultural products exports rose 46.77 percent in June, reflecting sustained international demand for Bangladeshi agro-based goods. On the destination front, the United States remained Bangladesh's largest single-country export market, with earnings of $ 9,048.05 million in FY26, up 4.09 percent year on year, and strong growth recorded in June as well. Germany and the United Kingdom retained their positions as the second and third largest export destinations, respectively, both showing continued positive momentum. The EPB data further showed that all of Bangladesh's top 20 export destinations recorded positive year-on-year growth in June 2026, pointing to a broad-based recovery in external demand and strengthening market diversification. The EPB expressed optimism that the positive momentum seen in June, along with continued product and market diversification, will provide a strong foundation for export growth in FY 2026-27 and support the country's sustainable economic development.

The Bangladesh Securities and Exchange Commission (BSEC) on Wednesday organised a day-long training programme on “Primary Investment Education (Financial Literacy)” for investors and potential investors in the capital market. The programme was held at the multipurpose hall of the BSEC Building in the capital's Agargaon area, with around 100 teachers and students from the Department of Finance and Banking of Dhaka Commerce College taking part, according to a press release. BSEC Executive Director Mir Mosharraf Hossain Chowdhury inaugurated the event. BSEC Director Sheikh Mahbub Ur Rahman spoke on “Fundamentals of Financial Literacy”, while Additional Director Sk. Md Lutful Kabir discussed “Investment Risk and Investor's Protection.” BSEC Commissioner Nafeez Al Tarik delivered a detailed presentation on “Financial Planning.” The training covered basic concepts of capital market investment, investment accounts and risk management, investor rights and protection, personal financial planning, long-term investment strategies, and informed investment decision-making, both from theoretical and practical perspectives. Participants took part actively in the question-and-answer session and exchanged views on various real-life issues related to investment. At the closing session, Commissioner Nafeez Al Tarik delivered concluding remarks. Certificates were distributed among the participating teachers and students at the end of the programme. BSEC said it will continue organising such investment education programmes for educational institutions, investors, and potential investors across the country in the future.

The Bangladesh Securities and Exchange Commission (BSEC) has decided to allow the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) to independently determine and implement market control parametres, including circuit breaker limits, in line with relevant regulations, policies and operational requirements. The decision was taken at the commission's 1018th meeting held on Wednesday, chaired by BSEC Chairman Masud Khan. As the stock exchanges have the regulatory authority to fix and enforce such market control parametres under their respective regulations, the commission decided to direct DSE and CSE to independently set and implement these standards. In line with the decision, the commission repealed its earlier order, issued on June 17, 2021 on the matter. In another decision, the commission said asset management companies may, upon proposal, be allowed to reinvest the income earned by close-ended mutual funds at the end of a fiscal year without distributing it as dividends, if such a move serves the interest of investors and the capital market. The decisions were taken considering the operational efficiency of the stock exchanges and the interests of investors and the capital market, according to a press release said.