United News of Bangladesh

A 4-day expo titled “International Plastics Fair-2025 organised byhe Bangladesh Plastics Goods Manufacturers and Exporters Association (BPGMEA) will begin on Wednesday.  Commerce Adviser Sheikh Bashiruddin will inaugurate the 17th edition of the fair at the International Convention City Bashundhara (ICCB) in Dhaka.   The exhibition will remain open to visitors from 11 am to 7 pm every day.   “Plastic is one of the significant sectors of the country. We are formulating a plastic sector roadmap. In the coming days, we expect that the use of plastic will increase from 5 kg to 30 kg, and exports will also increase several times,” said BPGMEA President Shamim Ahmed at a press conference held at the organisation’s head office in Dhaka on Monday.  BB's new monetary policy aims to bring inflation down to 7-8% by June He said the international fair will feature over 800 stalls, with more than 390 brands from 18 countries, including China, Germany, India, Italy, Japan, Vietnam, UAE, Turkey, and the UK, showcasing their products and technologies.  He said  investment and employment are increasing rapidly in Bangladesh's growing plastics and packaging sector, where BPGMEA member companies are collectively playing an important role.  “One of the main goals of this event is to increase the use of eco-friendly technology and modern machinery among domestic businessmen,” he said.  Not only will there be an exhibition, but seminars on the plastics sector will also be organised over these four days. Electric G-Wagon arrives in Bangladesh for the first time These seminars will include detailed and informative discussions on sustainable production, automated technology, recycling innovations, global markets, and the plastics sector in Bangladesh, he added.  “We believe that this fair will be very lively and effective with the presence of representatives from the plastic sector of different countries,” said the  BPGMEA president.  He noted that through the Plastic Fair, the introduction of plastic products and the addition of new technologies are gradually increasing. The consumer base is growing, and plastic products are being exported abroad after meeting domestic demand, he added.   

Bangladesh Bank (BB) has announced a new monetary policy for the remainder of the current fiscal year 2024-25, targeting an inflation rate of 7-8% and setting GDP growth at 4-5%. Governor Dr Ahsan H Mansur presented the new monetary policy during a press conference at Jahangir Alam Conference Hall of the central bank on Monday. The monetary policy focuses on stabilising three key financial indicators: exchange rates, inflation and interest rates. BB to announce contractionary monetary policy on Monday It also aims to provide a slight economic expansion, despite a significant decrease in private sector credit flow, as the global economic slowdown, along with the impact of domestic financial scams, has contributed to sluggish GDP and credit growths in Bangladesh. Bangladesh Bank set to unveil monetary policy as rate speculation swirls However, the policy interest rate remains unchanged, meaning lending rates will not rise further. Despite recommendations from the International Monetary Fund (IMF), the central bank has opted to maintain the policy rate.  

The Korean Export Processing Zone (KEPZ) has finally obtained its mutation documents from the government, paving the path for increased foreign investment. The documents, which had been pending for a long time, were issued by the Bangladesh government on February 6, 2025.  KEPZ is the largest private export processing zone in Bangladesh. The interim government has taken steps to expedite the mutation process to encourage greater foreign investment in the country.  According to Shafiqul Alam, press secretary to Chief Adviser Prof Muhammad Yunus, several foreign direct investment (FDI) proposals, including one from Samsung, were withdrawn due to the delay in obtaining the mutation documents for KEPZ. Dr Yunus urges quick solution to KEPZ land rights issue Alam shared this information during a press briefing in Dhaka on Sunday.  Korean entrepreneur Kihak Sung, the country’s top merchandise exporter through his company Youngone, also relocated some of his investments from Bangladesh to Vietnam because of the delay in receiving the mutation documents.  Sung acquired the land in Chattogram in 1999 and initiated the development of the export processing zone on 2,500 acres of land. 

The state-run Trading Corporation of Bangladesh (TCB) is set to resume its sales programme through trucks today (Monday), aiming to provide essential commodities at subsidised rates to consumers in Dhaka and Chattogram metropolitan areas. According to a media release issued on Sunday, the TCB will offer items including edible oil, lentils, sugar, chickpeas and dates through mobile trucks. This initiative is designed to assist low-income families and stabilise market prices. Purchase Limits and Pricing: Edible Oil: Up to 2 litres per person at Tk 100 per litre.Lentils: Up to 2 kilograms at Tk 60 per kg.Sugar: 1 kilogram at Tk 70.Chickpeas: Up to 2 kilograms at Tk 60 per kg.Dates: 500 grams at Tk 155. TCB trucks selling edible oil at Tk100 per liter set to hit the streets from tomorrow Each consumer is allowed to purchase the specified quantities to ensure wider distribution among the populace. The TCB said that the initiative will start in Dhaka and Chattogram, with plans to expand to other divisional cities and select districts in the near future. Consumers are encouraged to queue at designated truck station points to avail themselves of these subsidised goods.

Dhaka’s stock market opened on a positive note on Monday, the second trading day of the week, while Chattogram’s market saw a decline at the beginning of the session. At the start of trading on the Dhaka Stock Exchange (DSE), the benchmark DSEX index rose by 11 points. Meanwhile, the Shariah-based DSES index increased by 3 points, and the blue-chip DS30 index gained 2 points. At the beginning of the session, share prices of 170 companies increased, while 85 saw a decline, and 78 remained unchanged. Within the first half-hour of trading, shares and units worth over Tk 60 crore were exchanged on the DSE. Stock Market Slump: DSEX index falls by 40 points in three days On the other hand, the Chattogram Stock Exchange (CSE) witnessed a decline, with its overall index dropping by 18 points at the start of trading. Out of 39 companies traded on the CSE, prices of 21 shares increased, while 14 declined, and 4 remained unchanged. The total value of shares and units traded in the opening session exceeded Tk 20 lakh.

Anthente Bulk Bag Limited, a Chinese company, is set to invest US $10 million in the BEPZA Economic Zone (BEPZA EZ) to establish a container bag manufacturing industry. The Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company recently at the BEPZA Complex in Dhaka, according to a press release. BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc, attended the signing ceremony, alongside senior officials from BEPZA and representatives from Anthente Bulk Bag Limited. Member (Investment Promotion) of BEPZA Md. Ashraful Kabir and Managing Director of Anthente Bulk Bag Ma Xiaoming signed the agreement on behalf of their respective organizations. The Chinese company plans to produce 2.8 million pcs of Flexible Intermediate Bulk Containers (FIBC) bags, bulk bags, woven and non-woven bags annually, creating employment opportunities for 1150 Bangladeshi nationals.

Bangladesh Bank (BB) is set to announce a new monetary policy on Monday for the remainder of the fiscal year 2024-25. The central bank will continue its contractionary monetary policy to curb inflation and reduce excess money supply, sources said. A contractionary monetary policy is a strategy used by central banks to deliberately reduce the money supply in an economy—typically by raising interest rates, selling government bonds, or increasing reserve requirements for banks—to slow down economic growth and control inflation. Trading Begins with an Uptrend as Most Company Shares Gain In preparation for this policy decision, Bangladesh Bank has held discussions and consultations with prominent economists and key stakeholders. The official announcement will take place at 3:00 pm on Monday during a press conference at the Bangladesh Bank headquarters in Motijheel, according to a press release. Banking Diploma holders to get extra marks in promotion: BB  

Mercedes-Benz G 580 "Edition One," the first-ever electric G-Wagon, has officially arrived in Bangladesh. The vehicle was unveiled in a grand ceremony on Saturday. Rancon Motors Limited, the authorised distributor of Mercedes-Benz in Bangladesh, has introduced the 2025 G 580 "Edition One," marking a new era for luxury electric SUVs in the country. As the first production unit of the electric G-Class, the "Edition One" is a collector’s item for automotive enthusiasts. Renowned musician Bassbaba Sumon of Aurthohin and the country’s most accomplished motorsport racer, Avik Anwar, attended the launch event as special guests. The 2025 G 580 "Edition One" seamlessly blends the legendary off-road capability of the G-Class with cutting-edge electric technology, setting new benchmarks in luxury, performance, and sustainability. Retaining its iconic design and off-road prowess, the electric G-Wagon is equipped with a quad-motor setup—one motor per wheel—delivering a formidable 587 PS and 1,164 Nm of torque. The model also features innovative driving technologies such as G-Rower, G-Turn, and G-Steering.

Trading at both the Dhaka and Chattogram stock exchanges commenced on a positive note on the first working day of the week, with most company shares witnessing a price increase. On Sunday, the benchmark index of the Dhaka Stock Exchange (DSE), DSEX, rose by 4 points at the start of trading. The other indices, the Shariah-based DSES and the blue-chip DS30, also saw gains, though both remained below a decimal point. At the beginning of trading, the share prices of 164 companies increased, while 143 declined, and 74 remained unchanged. Weekly Review: DSE plunges as investor confidence wanes; key sectors hit hard During the first hour, shares and units worth over Tk 100 crore were traded on the DSE. Similarly, the Chattogram Stock Exchange (CSE) saw an overall index rise of 3 points at the start of trading. Out of the 66 companies that traded on the CSE, 32 witnessed price gains, 22 saw declines, and 12 remained unchanged. The total value of traded shares and units surpassed Tk 1.40 crore in the early hours.

The long-established, mostly family-owned business sector of Old Dhaka flagged traffic congestion, water logging, weak infrastructure, and inadequate access to SME finance, as the most significant bottlenecks to doing business in one of the country's oldest and largest trading hubs. They also pointed to the increasing exchange rate of taka against the dollar, delays in import and export procedures, high interest rates, the increased VAT and tax rates, apart from complex state revenue structures, as hurdles for their businesses, that mostly fall under the Micro and Small & Medium Enterprises (MSMEs) category. They voiced these views at a views-exchange meeting for MSMEs in 'Old Town' on Saturday, organised by the Dhaka Chamber of Commerce & Industry (DCCI) at Lalbagh. To address their concerns, Md. Jashim Uddin, Deputy Commissioner of Dhaka Metropolitan Police (Lalbagh Division); Director of Research at the Chief Economist’s Unit of Bangladesh Bank, Dr. Selim Al Mamun; and Additional Commissioner, Custom, Excise and VAT Commissionerate (South Dhaka) of the National Board of Revenue, Manash Kumar Barman, were present at the event as public sector representatives. DCCI President Taskeen Ahmed stressed the need to simplify the tax system, including the system for VAT collection according to the size, nature, and capacity of businesses, fixing realistic rates of VAT, and removing complexity and bottlenecks in the import-export process. "Despite being one of the ancient hubs for trade and commerce in the region for more than a hundred years, the entrepreneurs of Old Dhaka face various problems due to increased traffic congestion, lack of adequate infrastructure, and issues of tax and VAT," Taskeen said. The government and private sector must work together on joint initiatives to solve these problems, he added. Dr. Selim Al Mamun pointed out that from 2022 to 2024, the local currency, Taka, depreciated by 35 percent in the local market against the US Dollar, triggering a spell of prolonged instability in currency management.  "In fact, the central bank is still working to contain the instability, with the aim of restoring stability in the exchange rate," he said. He also said imports had increased by 3.5 percent, while exports spiked by almost 11 percent, in the last six months (July-December 2024) while remittances crossed $16 billion in the first seven months of the current fiscal, i.e. till the end of January. These trends are helping the foreign exchange market get stability, and the depreciation of the local currency has 'narrowed' in recent times, he pointed out. Additional Commissioner of NBR, Manash Kumar Barman, said the government has already taken the initiative to automate the VAT system through an online registration process. This is expected to ease the VAT payment return system for traders, and reduce harassment.  Deputy Commissioner Md. Jashim Uddin of DMP said that traffic police will be deployed at 8 important spots to ease traffic congestion within Old Dhaka, but also urged the businessmen to come forward to recruit volunteers to help them as well. He also suggested that traders take the help of police to transport cash during the upcoming Ramadan. At the end of the event, Taskeen Ahmed, also Vice Chairman of the Ifad Group, handed over membership certificates to 33 newly-enrolled members of DCCI, one of the oldest and largest trade bodies in the country.