United News of Bangladesh

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.

Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) President Mohammad Hatem has said the current tax system discourages investment, and called for substantial reforms in the tax structure. The BKMEA president was speaking on Saturday as the chief guest at the biennial general meeting of the Bangladesh Labour Rights Journalists Forum (BLRJF) at Tamanna World Family Park in Dhaka. BLRJF President Kazi Abdul Hannan chaired the meeting, with its General Secretary Ataur Rahman overseeing the programme. Hatem said, “The NBR imposed multiple taxes on businessmen. For instance, when raw materials are imported, customs collect advance income tax (AIT) along with duties. At the end of the year, a businessman files a tax return, and upon calculating their business volume, they may find that their tax liability is Tk 40. However, the NBR had already collected Tk 100 as AIT, with the understanding that it would be adjusted against the total tax liability at the end of the year. Similarly, the NBR also imposed a 30% surcharge on a businessman's profits.” “This complex tax system is discouraging for investors, and current businesses are not interested in expanding into new ventures,” he said. The interim government must focus on attracting more investment, creating additional jobs, and fostering industrial growth, the BKMEA president said. He also criticised the increase in gas and electricity prices without ensuring adequate supply to industrial units. There is a need for formulating actionable policies through consultations with businessmen and other stakeholders, added the BKMEA president. Hatem, also managing director of MB Knit Fashion Limited, said most businessmen want their workers to receive fair wages. “This will help increase production and foster industry growth. However, international buyers focus only on trade unions. If they do not offer fair and ethical prices for Bangladeshi products, it will be impossible to ensure the rights of workers.” Also present at the event were BLRJF Joint General Secretary Md Alamgir Hossain, Deputy Director of Programmes at the Bangladesh Labour Foundation (BLF) Mahmudul Hasan Khan, and General Secretary of the Bangladesh Tannery Workers Union Abdul Malek.  

Trading at both the Dhaka and Chattogram stock exchanges began on an upward trend on Wednesday (5 February), with most company shares witnessing price increases. At the start of the trading session, the benchmark index of the Dhaka Stock Exchange (DSE), the DSEX, rose by 27 points. The Shariah-based DSES index and the blue-chip DS30 index each gained 7 points. In the early hours of trading, share prices increased for 250 companies, while 52 saw declines, and 59 remained unchanged. Weekly Review: DSE plunges as investor confidence wanes; key sectors hit hard During the first hour, the DSE recorded share and unit transactions worth over Tk 100 crore. Meanwhile, the overall index of the Chattogram Stock Exchange (CSE) increased by 14 points at the beginning of the session. Among the 60 companies traded on the CSE, prices rose for 38, fell for 16, and remained unchanged for 6. The total value of shares and units traded at the start of the session surpassed Tk 50 lakh.

The 9th Social Business Youth Summit (SBYS) 2025, held at the InterContinental Dhaka on February 1-2, brought together over 350 entrepreneurs, changemakers, policymakers, youth leaders, and ecosystem builders from around the world to co-design solutions for critical global challenges, including food security, health and education, climate change, gender equality, and sports for social change. The two-day summit, curated by YY Ventures, co-hosted by Impact Hub Dhaka, and powered by The Embassy of the Kingdom of the Netherlands in Bangladesh, was part of the Festival of Youth 2025: Creating a New Bangladesh, an initiative of the Chief Adviser’s Office, said a media release issued on Tuesday.  The theme of the summit was, "Change the Country, Change the World," and it featured a powerful keynote from Chief Adviser Professor Muhammad Yunus, who emphasized the urgency of youth-led, social business-driven innovation in shaping a better future. “The world, as it stands today, has no escape route from the crises created by the old system— we need to design a new engine. And social business is key to that change. This room is full of enough people to change the world, not by numbers alone, but through the power of imagination, thought, and execution. I’m not saying everything else should disappear; I’m simply saying: Make space for social business. People will naturally join in because they experience immense joy in solving others' problems. This is a unique expression of commitment—one that leads us toward a world of three zeros. That is our path, and it is achievable,” said he. The summit commenced with a warm welcome from Sadia Hossain, Director of the Board of YY Ventures and Impact Hub Dhaka, who said that this summit is meant to be a springboard for collective leadership rooted in respect, empathy, courage, and a commitment to leave no one behind. Thijs Woudstra, Chargé d’Affaires of the Embassy of the Kingdom of the Netherlands in Bangladesh, delivered the Opening remarks underscoring the importance of cross-sector collaboration in empowering young entrepreneurs. 9th Social Business Youth Summit in Dhaka Feb 1-2 He said, “The Netherlands has been active in Bangladesh supporting youth for a long time, for example, supporting young entrepreneurs to build a sustainable business. Public and private organization have to work together on this, because youth is the best investment for the future.” In the fireside chat, Jurriaan Middelhoff, Ambassador-at-Large for Youth, Education and Employment, Ministry of Foreign Affairs, Government of the Netherlands, mentioned, "Young people are our most important stakeholder in many countries, like Bangladesh. Therefore, we take a "Youth at Heart" approach in our work, investing in youth, entrepreneurship and creating job opportunities. An important aspect is to ensure that youth voices are involved in a meaningful way in decision-making processes." The first day of SBYS 2025 also featured discussions on scaling youth-led social businesses, ensuring food security, and zero waste lifestyles. A workshop was held on the global 3ZERO Club initiative, along with a special feature on the Social Fiction Storytelling Competition. Panel discussions explored youth-driven social business, linkages between education, employment and entrepreneurship, and innovations in sustainability. The Orange Corners Bangladesh Showcase also spotlighted emerging Bangladeshi entrepreneurs, providing them with a platform to present their innovative business solutions to drive social impact. A special segment was the launch of the Orange Corners Innovation Fund (OCIF) to empower young entrepreneurs to grow and scale their impact enterprises in Bangladesh. The second day of SBYS 2025 featured dynamic discussions on harnessing AI for social impact, the role of business in accelerating the green transition, and the power of sports in driving social justice. One panel of experts explored talent development for social innovation, while another delved into potential ways of building a world of three zeros. Breakout sessions were held on equity in healthcare, inclusive entrepreneurship ecosystems, and gender equity for a balanced world. Youth Summit Highlights Demands for Policy Focus on Youth Expectations The event concluded with an inspiring closing keynote by Lutfey Siddiqi, Chief Adviser’s Special Envoy for International Affairs, who urged participants to turn their ideas into sustained action. “Young people and nation building. How do we put it all together? We make sure that we— and I include myself in young people— do not let other people set the agenda for us. If someone says it’s one or the other, we should ask: why can it not be one and the other? If someone says we should focus so much on the past rather than the future, we should flip it around. We should spend more time on the future— more dreams than memories,” said he.   Osman Dhali, Chief Operating Officer of YY Ventures, closed the summit with a call for collaboration across different sectors and actors beyond the event.

Standard Chartered Bangladesh, in partnership with BRAC, has successfully completed two agricultural initiatives aimed at uplifting farmers in Sunamganj, Habiganj haor areas, and the Barind region, helping them mitigate the adverse effects of climate change in flood- and drought-prone areas. In addition, a second initiative has been completed to improve the livelihoods of 560 fishermen in the Sundarbans, according to a press release. Under the first initiative, Standard Chartered and BRAC provided farmers with resilient seed inputs, 353 types of essential agricultural technologies, post-harvest storage solutions, and training opportunities. The project also advanced sustainable agricultural mechanisation by introducing modern equipment and techniques, improving efficiency and productivity. To further protect lives and livelihoods in haor regions, 34,825 palm trees were planted to reduce lightning-related fatalities—an increasingly common threat due to erratic weather patterns. In the Barind region, 28 solar-powered irrigation pumps were installed, lowering irrigation costs and creating additional income opportunities through water trading. This comprehensive intervention addressed key phases of the agricultural cycle, equipping farmers with the knowledge and tools needed to enhance sustainability and food security. The second initiative focused on strengthening the livelihoods of small-scale fishermen by providing essential equipment, including boats and nets. BRAC’s Youth Career Expo connects job seekers with employers in Chattogram With limited access to their own tools, many fishermen struggle to sustain their trade. By equipping 560 fishermen with resources tailored to their needs, the initiative is enabling them to take control of their economic futures. Two types of boats—large engine-powered vessels and smaller boats—were distributed to accommodate different fishing needs. A total of 10 large boats and nets were provided to support deep-sea fishing, particularly for Hilsa, while 56 small boats and nets were allocated for catching white fish within the mangrove forest area. Head of Corporate Affairs, Brand & Marketing, Standard Chartered Bangladesh Bitopi Das Chowdhury said that Farmers and fishermen are at the heart of Bangladesh’s economy, yet their livelihoods are among the most vulnerable to climate change. BRAC Bank CEO issues apology for remarks on Bangladesh Bank officials “By equipping them with the right tools, knowledge, and sustainable solutions, we can help them not just survive, but thrive. Through our partnership with BRAC, we are championing resilience, modernisation, and financial inclusion—ensuring that those who feed the nation have the resources they need to build a stronger, more sustainable future.”

Dhaka’s stock market ended Tuesday’s trading session on a positive note, though the index recorded only a marginal increase. Despite this, most company shares saw a decline in prices, while overall market turnover rose. The benchmark DSEX index of the Dhaka Stock Exchange (DSE) increased by just 1 point. The other two indices, the Shariah-based DSES and the blue-chip DS30, saw only decimal-level gains. Out of the 399 companies traded throughout the day, the share prices of 140 companies increased, while 185 declined and 74 remained unchanged. Performance Across Categories Although most companies under the A and B categories experienced price declines, shares in the Z category showed a higher proportion of price increases. In the A category, 78 companies saw their prices rise, 103 declined, and 38 remained unchanged. The B category saw 24 price gains, 48 declines, and 14 unchanged shares. Meanwhile, in the Z category, 37 companies experienced price increases, 34 saw declines, and 21 remained unchanged. Among 37 mutual funds traded, 17 remained unchanged, while 6 rose and 14 fell in value. Block Market Activity In the block market, 19 companies exchanged 25 lakh shares worth Tk 9.50 crore. Beach Hatchery Limited led these transactions, selling 2.37 lakh shares for Tk 2.34 crore—the highest value transaction of the day. Top Gainers and Losers Energypac Power Generation PLC topped the list of gainers, with its share price increasing by 9.70% in a single trading day. On the other hand, Anlima Yarn Dyeing Limited saw the highest decline, dropping by 5.86%. Weekly Review: DSE plunges as investor confidence wanes; key sectors hit hard Dividend Announcements and Category Changes Grameenphone, a leading telecom company, has announced a 170% face-value dividend for investors. The company’s annual general meeting is scheduled for 23 April this year. According to its 2024 financial report, Grameenphone’s earnings per share stood at Tk 26.89. As per regulations, the circuit breaker for the company’s shares was lifted on Tuesday following the dividend announcement. DSE has decided to downgrade Beacon Pharmaceuticals Limited and Rahima Food Corporation Limited to the Z category due to failure to distribute dividends within the stipulated time. Despite announcing dividends of 20% and 10%, respectively, in 2024, both companies missed the deadline. Similarly, Bangladesh Building Systems PLC, a B-category company, declared a 0.50% dividend but failed to meet the deadline, leading to its relegation to the Z category. The DSE has instructed merchant banks and brokerage houses not to provide any loans to investors for purchasing shares of these newly downgraded companies. Dividend Distribution by Five Companies Five DSE-listed companies have distributed previously declared dividends to investors. Pharma Aids led with a 25% dividend, followed by Rangpur Foundry Limited at 23%, Lovello Ice Cream at 10%, Agni Systems Limited at 4.80%, and GQ Ball Pen Limited at 3%. Sector-wise Market Performance The paper and printing sector performed the best, with a 2.59% increase in share prices. All six listed companies in this sector saw price gains. DSE index declines while CSE sees gains in first hour Conversely, the cement sector faced a decline, losing 1.27% in value. Out of seven companies in this sector, five saw price drops, while only two recorded gains. CSE Performance Similar to the DSE, the Chittagong Stock Exchange (CSE) also experienced an index gain, with the overall index increasing by 30 points. Of the 196 companies traded, 80 saw price increases, 83 declined, and 33 remained unchanged. The top gainer in the CSE was Khulna Printing & Packaging Company, with a 9.97% rise, whereas Evince Textile Limited suffered the biggest loss, falling by 9.90%. While the DSE saw an increase in total turnover by Tk 13 crore from the previous session, reaching Tk 444 crore, CSE’s turnover declined to Tk 3.94 crore from the previous Tk 4.23 crore.