United News of Bangladesh

Director General of the Directorate of National Consumer Rights Protection Alim Akhter Khan on Tuesday said eggs must be sold at the government-fixed rates from Wednesday. During a meeting with egg producers and suppliers on Tuesday afternoon, the DG said from Wednesday, the price of each egg at the production level will be Tk 10.91, at the wholesale level Tk 11.01, and at the retail level Tk 11.87. Read: Govt permits import of 40.5 million eggs to stabilise market The consumers will get a dozen of egg at Tk 142.44 from now, he said. Alim said from now on, there will be no involvement of middlemen in the egg market.

Bangladeshi expatriates have sent US $986 million in remittance in 12 days of October, showing an upward trend of inward remittance flow in the legal channel. According to the latest update of the Bangladesh Bank (BB), the expatriates have sent $8.22 crore in the country in a day till Monday (October 14). Bangladesh received a $425mn remittance in 5 days of Oct: BB Analysing the central bank data shows that state-owned 6 bank received $ 245.57 million in remittance, specialized Bangladesh Krishi Bank received $44.45 million, 43 private commercial banks received $693.57 million and 5 foreign commercial banks received $2.64 million in remittance till Monday. Forex reserves increase thanks to positive trend in remittance inflow: Bangladesh Bank In the current fiscal year FY2024-25, the expatriates sent $1.91 billion remittance in July, $2.22 billion in August, and $ 2.4 billion in September.

The Bangladesh Bank (BB) has increased the values of commemorative gold coin prices by Tk10,000 in line with the record price surge of gold in the country. BSEC Chairman urges stakeholder cooperation for stock market reforms The prices of commemorative gold coins weighing 10 grams with boxes titled 'International Mother Language Day-2000', 'Bangabandhu Centenary 1920-2020' and 'Golden Jubilee of Independence 1971-2021' made of 22-carat gold, has been revised to Tk1,25,000, the central bank said in a notification on Monday. Government plans major redesign of Taka notes, removing Sheikh Mujibur Rahman’s image The new prices will come into effect tomorrow (Tuesday).  

City Bank Director Rubel Aziz has expressed his intention to sell 34 lakh shares from his holdings in the bank at the prevailing market price. He announced a disclosure published on the Dhaka Stock Exchange (DSE) online on Monday (14 October). According to the disclosure, Rubel Aziz holds more than 3.08 crore shares of City Bank. Out of his holdings, Rubel will sell 34 lakh shares in the public market of the DSE within 31 October. BSEC Chairman urges stakeholder cooperation for stock market reforms On the day, City Bank shares traded at Tk22.50. City Bank's consolidated net profit for the first half of 2024 increased by 5 percent to Tk250 crore compared to the same period last year. The price-sensitive information of the private sector lender saw that consolidated earnings per share (EPS) for the January-June period was Tk1.85, up from Tk1.76 a year ago. BSEC and World Bank discuss capital market reforms in Bangladesh

Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Khondoker Rashed Maqsood, emphasized the need for active cooperation from all stakeholders to drive the development and reform of the country’s stock market.   During a meeting with top representatives of the DSE Brokerage Association (DBA) on Monday at the BSEC headquarters in Agargaon, Dhaka, the Chairman called for coordinated efforts from all institutions involved in the stock market to support ongoing reform initiatives.   The BSEC has recently formed a task force to spearhead stock market reforms, and the task force has already begun its work, according to a press release from the commission. Maqsood stressed the importance of collaboration between the BSEC and other market participants to build a sustainable and prosperous stock market for the future.  

Trade between Bangladesh and India through the Benapole land port resumed on Monday morning after a five-day closure marking Durga Puja, the largest religious festival of Hindus. Shamsur Rahman, president of the Benapole Clearing & Forwarding agent, said the land port again became vibrant with activities. Read more: 479 MT hilsa exported to India through Benapole Hundreds of Indian trucks carrying goods started entering the land port in the morning as those were stranded at the Indian end for the last five days, he said. Imtiaz Bhuiyan, Officer-in-Charge of Benapole Checkpost Immigration police, said the movement of passengers between the two countries with valid documents remained uninterrupted.

Bangladesh Securities and Exchange Commission (BSEC) Chairman Khandaker Rashed Maqsood met with Abdoulaye Seck, Country Director of the World Bank Group in Bangladesh, today to discuss crucial reforms aimed at strengthening the country’s capital market. According to a press release, BSEC Commissioner Farzana Lalarukh also participated in the meeting held at the BSEC headquarters in Agargaon, Dhaka. The World Bank was represented by Abdoulaye Seck and Senior Financial Sector Specialist Toshiaki Ono. World Bank cuts Bangladesh’s growth to 4 pc in FY25 for floods, uncertainty The discussion centered on several key aspects of the capital market's development, including reforms to enhance market governance and infrastructure. Both parties emphasized the need for stronger governance practices within companies listed on the stock exchange, as well as improvements across the entire market ecosystem to ensure sustainable growth and investor confidence. This collaborative effort aims to further modernize and stabilize Bangladesh's capital market, aligning it with global standards. South Asia’s growth to reach 6.4 pc outpacing expectations: World Bank  

The Anti-Discrimination Officers Forum of Bangladesh Bank has demanded the immediate resignation of two deputy governors, Nurun Nahar and Dr. Habibur Rahman, accusing them of involvement in corruption. The forum claims these officials were appointed under the Awami League government and are perpetuating malpractice in the institution. In a letter addressed to the central bank's governor, Dr. Ahsan H. Mansur, on Wednesday, said that the continued presence of these individuals—closely tied to corruption—undermines the integrity of Bangladesh Bank. The letter went on to accuse Nurun Nahar and Dr. Habibur Rahman of being "deputy governors of bank robbers," demanding that they step down to avoid further damage to the institution's credibility. Read: Bangladesh Bank server tech glitch disrupts inter-bank cheque clearing The platform also raised concerns about the upcoming "BB Night," an event organized by the Bangladesh Bank Officers Council scheduled for October 20. The forum urged Governor Mansur not to attend the event, citing it as a continuation of the council’s alleged favoritism and political bias. The forum highlighted that other high-ranking officials, including a former governor, two deputy governors, the chief of the Bangladesh Financial Intelligence Unit (BFIU), and a policy advisor, have already been forced to resign under similar allegations of corruption. Read more: Bangladesh Bank Governor has assured liquidity crisis resolution for pvt banks: Abdul Awal Mintoo

The “International Lift & Escalator Expo 2024" began at the International Convention Center Bashundhara (ICCB) in Dhaka on Thursday. The three-day event, the only exhibition in Bangladesh dedicated to elevators and escalators, is open from 10am to 7pm till Saturday at Hall 2,  said a media release. The 5th edition of the expo aims to promote the growth and development of the lift, escalator, and elevator industry in Bangladesh’s rapidly expanding housing market. The event features participation from nearly 50 local and foreign companies including from China, Japan, Italy, Turkey, Finland, and Spain. It showcases a wide range of elevators, escalators, lifts, and safety equipment. The expo offers manufacturers a unique opportunity to gain insights into the industry, display their products, and explore new business opportunities both locally and internationally. Anita Raghunath, Director of Vargo Communications and the expo organizer, said the world is now driven by technology. From businesses to homes, technology is reshaping lives, making everyday tasks more accessible and efficient. “This expo brings world-class manufacturers and importers of elevators and escalators to Bangladesh, ensuring that our customers' evolving needs are met,” she added. Visitors to the expo can explore products from renowned brands such as Fuji International, Sigma, Hidohs, Kone, SRH, Handok, and more.  

Bangladesh has so far exported 479 metric tonnes (MT) of hilsa to India marking Durga Puja, the largest religious festival of the Hindu community, through Benapole land port. The export started through the country's largest land port with 54.460 MT on September 26, and India has so far received 479 tonnes over the past 13 days. The government set a price of $10 equivalent to Tk 1, 180 for per kilogram of hilsa. Visiting local Benapole Fishery Market, this correspondent found per kilogram of hilsa weighing under one Kg was selling at TK 1, 300 and the Hilsa weighing over one Kg at Tk 1800-2000, Tk 600 to 800 more per kg compared to the export price. Read: 410 metric tons of hilsa exported to India via Benapole Land Port Asked about the low price of the exported hilsa, Mahbubur Rahman, an official at Fisheries Inspection and Quality Control Centre of Benapole land port, said the circular on hilsa export dates back a few years but now the export price of hilsa may be adjusted in line with the domestic market price. Masudur Rahman, revenue official at the Check-post Cargo Section of the land port, said seven trucks entered India carrying 22 MT of hilsa on Wednesday night. Read more: Bangladesh missing hilsa export target to India for Durga Puja since 2019 With this, India received 479MT of hilsa from Bangladesh through Benapole land port in 10 consignments since September 26, he said.