United News of Bangladesh

Ahsan Ullah, former executive director of the regulator has joined as an advisor to the governor of Bangladesh Bank. He will assist Governor Dr. Ahsan H. Mansur with the central reform activities. Ahsan Ullah joined the advisory post after this appointment was issued on Monday. In this regard, the internal order of the central bank said that Ahsan Ullah had been appointed as the advisor to the governor on the Bangladesh Bank (BB) reform activities on a contractual basis for one year. The central bank has formed a task force to reform the financial sector in which banks play a leading role. Now Ahsan Ullah has been appointed as advisor to the governor for the reform and strengthening of Bangladesh Bank. Read: Financial sector danger removed but full stability to take time: BB After regular retirement, Ahsan worked as an advisor to the central bank and was associated with the central bank strengthening project. Later, he joined the teaching staff at the Bangladesh Institute of Bank Management (BIBM).

The bank account details of former Prime Minister Sheikh Hasina and all her closest family members, including her sister Sheikh Rehana, have been summoned. The Bangladesh Financial Intelligence Unit (BFIU) of the Bangladesh Bank has sent instructions to banks and financial institutions this week to get details of their financial transactions. The BFIU's letter states that the Prevention of Money Laundering Rules provisions will apply in this order to summon transactions. The letter provides the name of the person summoned, and national identity card information. Read: BFIU freezes bank accounts of 11, including 10 journos Ousted as prime minister by a student-led uprising, the account details of Sheikh Hasina, her daughter Saima Wazed (Putul) and son Sajeeb Ahmed Wazed (Joy) have been sought. In addition, the account information of Sheikh Rehana's son Radwan Mujib Siddiq (Bobby), and two daughters Tulip Rizwana Siddiq and Azmina Siddique have been sought.

The Dhaka Stock Exchange (DSE) ended Tuesday’s trading with a downtrend. Trading started in the morning with an upward trend, but indexes started to drop after 12 pm. According to the trade record, the DSEX (broad index) decreased by 8.06 points to settle at 5,190.77 points, compared to 33.67 points up in the previous session (Monday). The Shariah-based DSES index fell by 2.69 points to settle at 1158.89 points, and the DS30 blue-chip index increased by 10.87 points to settle at 1922.74 points on Tuesday. A total of 17.14 crore shares and units changed hands through 127188 transactions, while 12.87 crore shares were traded in the previous session. A total of Tk 427.5 crore worth of shares and bonds were traded in the DSE on Tuesday which saw an increase from the previous session of Tk 362.6 crore. Out of the 399 companies that participated in trading, 162 advanced, 164 declined and 73 remained unchanged at the DSE. Read: DSEX index gains 33.67 points, prices of 223 companies up The port city bourse, CSE, also settled on an upward trend of trading. The All-Share Price Index (CASPI) increased by 36.6 points and settled at 14502.88 points. On the CSE, 206 companies participated in trading. Of them, 115 companies recorded price gains, 61 companies saw decline, and 30 companies remained unchanged. At the CSE, shares and units of 27.26 lakh changed hands through 1966 transactions. The value of trading shares and units was Tk 6.73 crore, which was Tk 8.49 crore in the previous session.

Bhomra land port in Satkhira has posted impressive revenue of Tk 16.24 crore from the export of various products to India in the first half of fiscal year 2024-25, according to the National Board of Revenue (NBR). The increasing exports through this land port have significantly contributed to the country's foreign exchange earnings, as revealed by an analysis of comparative data collected from the port's entry section. Sources said a total of 23 types of local products are currently being exported to India through the port. The products include yarn, waste, cleaning cloth, caps, jute yarn, polyester staple fiber, mustard oil, furniture, mosquito nets, polyester thread, fish nets, plastic bathroom fittings, handloom saris, lungis, clay products, unrefined sesame oil, cotton waste, travel bags, soy acid oil, readymade garments, toasts, juices, chips and lychees. In July 2024, the port earned Tk 2.34 crore, Tk 2.63 crore in August, Tk 2.77 crore in September, Tk 2.43 crore in October, Tk 3.15 crore in November and Tk 2.96 crore in December, totalling Tk 16.24 crore. Read: Sheola land port fails to meet revenue target Abu Musa, general secretary of the land port C&F Agents Association, said Bangladesh is benefiting from export opportunities, similar to other developing countries. He also said traders are increasingly opting for this port, resulting in a rise in both imports and exports, thereby boosting government revenue due to the proximity of the land port to Kolkata. Abul Kalam Azad, deputy commissioner of the land port, confirmed that the export trade with India has increased recently through the land port, resulting in bagging Tk 16.24 crore from the first half of the current fiscal year. Read more: Trade with India through 3 land ports suspended, uninterrupted at Benapole He said that the port has witnessed an export growth rate of 18.95% compared to other land ports in the country.

Bangladesh's inflation slightly eased in December, with overall inflation dropping by 0.49 percentage points and food inflation by 0.88 percentage points, providing some relief to consumers. According to the latest data released by the Bangladesh Bureau of Statistics (BBS) on Monday (January 6), overall inflation in December stood at 10.89%, down from 11.38% in November. Food inflation, a significant contributor to the country's rising cost of living throughout the past year, dropped to 12.92% in December, compared to 13.80% in November. Read: Inflation in Bangladesh climbs to 11.38% in Nov Non-food inflation also saw a marginal decline, decreasing from 9.39% in November to 9.26% in December. Rural and Urban Trends Inflation trends varied slightly between rural and urban areas. In rural regions, overall inflation dropped by 0.44 percentage points to 11.09% in December. Read: Inflation overshadows Bangladesh’s economic stride in 2024 Among this, food inflation stood at 12.63%, while non-food inflation reached 9.65%. In urban areas, overall inflation declined by 0.53 percentage points, settling at 10.84% in December. Food inflation in cities was reported at 13.56%, with non-food inflation at 9.17%. This fall in inflation offers some relief to households across the country, although rates remain high, particularly for food items, said economists, urging policymakers to focus on stabilising prices further to ensure economic resilience in the months ahead.

Sheola Land Port in Beanibazar has missed its revenue target for the first half of the 2024-25 fiscal year, collecting only Tk 20 crore out of the Tk 30.86 crore target that left a significant shortfall of Tk 10 crore. Customs officials attribute the missed target to political instability earlier in the fiscal year, which disrupted the assessment and clearance of goods for several days. They claim the activities of the Audit, Investigation, and Research (AIR) unit have curbed false declarations and minimised opportunities for revenue evasion, affecting overall import volumes. Workers at the port have a different perspective as they argue that irregularities, particularly weight manipulation during the assessment of goods, have discouraged trade through the port. Allegations of Corruption Recent allegations of corruption against Customs officials have also triggered labour unrest at the port. Workers claim that weight manipulation is a major issue. For example, stones imported from India are often mixed with soil and sand during loading at the mines. Previously, port authorities at Tamabil and Sheola deducted the weight of soil and sand before calculating duties. But current Sheola officials are reportedly unwilling to exclude this weight, leading to dissatisfaction among importers. Import Decline Over the past six months, Sheola Customs processed imports worth Tk 11 crore, including coal, ginger, oranges, apples, Shatkora, limestone, and rice. Customs sources highlighted that January’s revenue appears inflated due to the clearance of outstanding dues from the previous month. Read: Trade with India through 3 land ports suspended, uninterrupted at Benapole They cautioned that a more accurate picture of revenue trends will emerge from August onwards. Coal importer Iqbal Hossain noted that the rising value of the US dollar has hindered many traders from opening letters of credit (LCs). Those who managed to do so had to purchase dollars at higher rates in the open market and show 100% margin deposits in banks, leading to reduced import activity. Official Statement Sheola Customs Assistant Revenue Officer Shimul Sen remarked, “Revenue targets are increased each year, and we have also seen a corresponding rise in collections. However, meeting targets remains challenging. While this year’s target was somewhat achievable, political unrest and reduced imports due to high duties have impacted revenue collection in the first six months of the fiscal year.” Read more: 131MT rice imported from India through Hili Land Port Port users said that the challenges at Sheola Land Port reflect broader issues within Bangladesh’s customs and trade infrastructure, where balancing enforcement with facilitation remains a critical challenge.

The Dhaka Stock Exchange (DSE), the country's main capital market, saw a mixed trend of trading in the first hour on Monday. The 3 indexes of the Dhaka stock market DSEX, DSES went up, and DS30 decreased in the first session of the second day of the week. The main index DSEX increased by 6.91 points to 5,172.08 points, the DSES Shariah index up by 2.73 points to 1150.85 points, and the DS30 special blue-chip index down by 0.34 points to 1919.27 points during the first hour on Monday. DSEX index drops by 34.44 points, prices of 270 companies decrease On the day, the trading record in the DSE shows that shares and units of 3.31 crore were exchanged through 27171 transactions. In the first hour, the market witnessed huge selling pressure, and shares and mutual funds worth Tk 81.5 crore were traded. During this time, a total of 357 companies participated in trading. Among these, prices of 174 companies increased, 90 companies decreased and 93 companies remained unchanged at the DSE.

The International Chamber of Commerce-Bangladesh (ICCB) has said adopting a circular economy model is both a necessity and an opportunity, stressing that Bangladesh is highly vulnerable to climate change and is considered one of the most climate-vulnerable countries in the world. As a rapidly developing nation, Bangladesh faces significant environmental challenges, including waste management issues, pollution, and resource depletion, said the ICCB. The transition to a circular economy could provide solutions to these problems while unlocking new avenues for economic growth, according to the editorial of the current news bulletin of the ICCB released on Wednesday. Asia was the world's most disaster-hit region from climate and weather hazards in 2023 with floods and storms the chief cause of casualties and economic losses. The latest World Meteorological Organization report said the impact of heat waves in Asia was becoming more severe, with melting glaciers threatening the region's future water security. To fight against climate hazards, the just concluded COP29 in Baku has adopted to raise at least $300 billion core goal per year by 2035, with developed countries taking the lead, in the context of the broader mobilisation of $1.3 trillion per year from all actors to support climate action in developing countries. In order to fight against plastic pollution, the 5th Session of the Intergovernmental Negotiating Committee (INC-5), concluded in Busan, Republic of Korea on 1 December 2024 could not decide on development of an “international legally binding instrument (ILBI) on plastic pollution, including in the marine environment”.  Delegates from 179 Member States concluded that time had run out to resolve all outstanding issues and that a resumed session of the Committee was necessary to afford additional time for further negotiations to develop a legally binding instrument to address plastic pollution. In an era where environmental degradation and resource scarcity dominate global conversations, the circular economy emerges as a beacon of hope. Unlike the traditional linear economy—defined by a "take-make-dispose" model—the circular economy emphasizes sustainability, efficiency, and resourcefulness. By redefining how we produce, consume, and dispose of goods, the circular economy offers a transformative solution that turns waste into wealth, fostering economic growth while protecting the environment. The circular economy is based on three key principles: designing out waste and pollution, keeping products and materials in use, and regenerating natural systems. These principles focus on extending the lifecycle of products, promoting the reuse and recycling of materials, and minimizing waste. The approach not only conserves resources but also reduces greenhouse gas emissions, addresses pollution, and creates new economic opportunities. However, some developed countries have taken the initiative to showcase the circular economy's potential. The Netherlands aims to halve raw material use by 2030 through recycling and repairable goods. Sweden converts 99% of household waste into energy. Patagonia, an outdoor clothing brand, fosters sustainability by encouraging clothing repair and recycling, reducing waste and exemplifying circular practices. As one of the world's largest textile exporters, Bangladesh has the potential to lead in sustainable fashion. By adopting circular practices, such as recycling fabric waste and promoting second-hand clothing markets, the industry can reduce its environmental footprint while enhancing profitability. In agricultural waste, including rice husks and jute byproducts, can be converted into bioenergy and organic fertilizers, supporting sustainable farming practices. Circular models can complement renewable energy goals by integrating waste-to-energy solutions, reducing dependency on fossil fuels. Bangladesh generates approximately 3,000 tons of plastic waste daily, of which only 30% is recycled. Additionally, improper disposal of electronic waste and agricultural byproducts further exacerbates environmental degradation. By investing in recycling infrastructure and waste-to-energy projects, Bangladesh can mitigate these issues while generating economic value. It may be mentioned here that Bangladesh’s position in having the largest and highest number of green factories in RMG sector is commendable, with numerous factories recognized for sustainable practices. These achievements highlight the country’s commitment to eco-friendly manufacturing, setting an example for the global textile and apparel industry.

Price of liquefied petroleum gas (LPG)  will remain unchanged for the month of January. This is second consecutive month the price of LPG remains the same. According to Bangladesh Energy Regulatory Commission (BERC), the price of per kg LPG will remain at Tk 121.25 for the month of January as it was in November and December. The decision will be effective from 6 pm today (December 3, 2024). BERC announced the decision saying that a 12 kg LPG cylinder’s price will remain unchanged. Prices of other sizes of LPG cylinders – from 5.5 kg to 45 kg – will be the same, BERC said at a press briefing on Thursday at its Dhaka office. BERC officials said LPG price remains unaffected in the local market as Bangladeshi LPG operators normally import their products from the Middle-Eastern market on the basis of Saudi CP which did not change. Read: LPG prices remain unchanged for December: BERC As per the BERC decision, the price of “auto gas” (LPG used for motor vehicles) also remained at Tk 66.78 per litre (including VAT). The price of LPG, marketed by state-owned LP Gas Company, will also remain the same as it is locally produced with a market share of less than 5 percent. LPG witnessed the highest price at Tk 1,498 (per 12 kg cylinder) in the local market in February last year.

The Dhaka Stock Exchange (DSE), the country's main capital market, saw a downtrend in the first hour on Thursday. The 3 indexes of the Dhaka stock market DSEX, DSES, and DS30 decreased in the first session of the second day of the New Year. The main index DSEX decreased by 3.22 points to 5,214.93 points, the DSES Shariah index fell by 3.59 points to 1161.48 points, and the DS30 special blue-chip index down by 3.36 points to 1938.57 points during the first hour on Thursday. Read: DSEX index drops 2.38 points, Tk 209.2cr traded in 3 hours on first day of 2025 On the day, the trading record in the DSE shows that shares and units of 4.38 crore were exchanged through 25160 transactions. In the first hour, the market witnessed huge selling pressure, and shares and mutual funds worth Tk 86.5 crore were traded. During this time, a total of 347 companies participated in trading. Among these, prices of 114 companies increased, 141 companies decreased and 92 companies remained unchanged at the DSE.