United News of Bangladesh

Shares were mixed in thin Asian trading on Monday after U.S. stocks edged back from their all-time high. Oil prices fell and U.S. futures sank, while Chinese shares shed some of their early gains after a survey of manufacturers showed export orders dropping to a five-month low. The official manufacturing purchasing managers index fell to 49.1 in January from 50.1 in December, slipping into contractionary territory on a scale where 50 and above indicates expansion. Zichun Huang of Capital Economics said the slowdown might be temporary given increased government spending. “But the disappointing PMI data underscores the difficulty policymakers face in achieving a sustained recovery in growth,” Huang wrote in a commentary. The Hang Seng in Hong Kong was up 0.9% at 20,249.64, while the Shanghai Composite index was up 0.1%, at 3,256.91. Tokyo's Nikkei 225 gave up 0.6% to 39,699.76, extending losses after the Bank of Japan raised its benchmark interest rate to 0.25%, its highest level since 2008. The U.S. dollar was steady against the Japanese yen, at 155.73 yen, up from 155.72. The euro slipped to $1.0471 from $1.0483. In Bangkok, the SET fell 0.2%. Markets were closed in many other Asian markets due to lunar new year holidays. On Friday, U.S. stocks pulled back from their all-time high to close out a second straight winning week. The S&P 500 slipped 0.3% a day after setting a record, closing at 6,101.24. The Dow Jones Industrial Average dipped 0.3% to 44,424.25, and the Nasdaq composite sank 0.5% to 19,954.30. Trading was quiet, aided by relative steadiness in the bond market, which has been driving much of the action on Wall Street lately. When worries about inflation and the U.S. government’s swelling debt have been on the rise, Treasury yields have climbed and helped knock down stock prices. When concerns ebb, such as after last week’s encouraging update on inflation, yields have eased and helped stocks rise. A mostly encouraging start to the earnings reporting season for big U.S. companies has also helped prop up the stock market. Even if higher Treasury yields are pushing downward on their stock prices, companies can make up for it by delivering bigger profits. Texas Instruments fell 7.5% despite reporting profit for the latest quarter that topped analysts’ expectations. In a sign of how much pressure is on companies to keep growing, analysts focused on discouraging signals of how much profit the company is likely to make from each $1 of revenue during the first three months of 2025. That helped drag down stocks across the semiconductor industry. CSX sank 2.9% even though the railroad delivered a profit for the latest quarter that matched analysts’ expectations. Its revenue for the last three months of 2024 just missed analysts’ forecasts as it dealt with the effects of hurricanes. On the winning side of Wall Street were Novo Nordisk’s U.S.-listed shares, which jumped 8.5%. The Danish company reported results from a clinical trial of a treatment for people who are overweight or obese, which could mean bigger profits in the future. The yield on the 10-year Treasury eased to 4.61% from 4.65% late Thursday. Other yields also pulled lower following a couple reports on the U.S. economy that came in worse than expected. One said U.S. consumer sentiment is weaker than economists had forecast and fell in January for the first time in six months. A separate preliminary report suggested U.S. business activity is also weaker than expected. A third, potentially more encouraging report said sales of previously occupied homes were slightly stronger last month than expected, following the weakest year for such sales since 1995. Traders don’t expect the weak data to push the Federal Reserve to cut its main interest rate at its meeting next week. They’re virtually certain the central bank will hold steady, according to data from CME Group. In other dealings early Monday, U.S. benchmark crude oil shed 47 cents to $74.13 per barrel. Brent crude, the international standard, lost 47 cents to $77.08.

Bangladesh received $1.68 billion in remittance through legal channels during the first 25 days of January. On average, expatriates sent $67.04 million per day during this period. According to the latest data from Bangladesh Bank (BB), the total remittance flow for January is likely to surpass $2 billion if the current trend continues. A breakdown of the central bank’s data shows that of the $1.68 billion received: ·         $354.28 million came through state-owned banks, ·         $74.4 million through a specialised bank, ·         $1,242.53 million from private banks, and ·         $479 million via foreign banks. However, eight banks did not record any remittance inflow during this period. These include the state-owned Bangladesh Development Bank (BDBL) and the specialised Rajshahi Krishi Unnayan Bank. Bangladesh receives over $1.20 billion remittance in 18 days of January Private banks such as Community Bank, ICB Islami Bank, and Padma Bank also failed to report any remittance. Among foreign banks, Habib Bank, National Bank of Pakistan and State Bank of India did not receive any remittance. During the first half of FY2024-25 (July–December), remittance inflows totalled $13.78 billion, compared to $10.8 billion during the same period last year—an increase of $2.98 billion. US tops in remittance inflows to Bangladesh for 3 months: BB

Keya Cosmetics Limited has announced the permanent closure of its factories due to ‘ongoing challenges in the market’ from May next. In a media release on Thursday, the company cited market instability, discrepancies in accounts with its bank, shortages of raw materials and declining production activities as the primary reasons behind the decision. BRAC’s Youth Career Expo connects job seekers with employers in Chattogram The factory is scheduled to cease all operations from May 1, 2025. Besides, the dyeing and utility division of the company will be permanently shut down from May 25, 2025. This development marks a significant shift for Keya Cosmetics, which has been a key player in the cosmetics and personal care industry. The company has yet to release details about its future strategy following the closure. CSE extends trading hours, faces opposition from brokers’ association The decision comes amidst growing concerns over market conditions and the financial pressures faced by businesses in the sector. Keya Cosmetics’ management has expressed regret for the situation but emphasised the necessity of the move to address the challenges at hand.

The Dhaka Stock Exchange (DSE) witnessed a rise in indices during the first hour of trading today, while the Chattogram Stock Exchange (CSE) faced a sharp decline. On Thursday, the DSE's key index, DSEX, increased by 10 points within the first hour of trading. Among the other indices, the Shariah-based DSES rose by 2 points, while the DS30, the blue-chip index, climbed by 1 point. During this period, the DSE recorded a trading turnover of Tk 90 crore. Read: DSE sees sharp fall as most stocks suffer price drops Of the traded companies, share prices increased for 202, decreased for 72, and remained unchanged for 76. In contrast, the CSE experienced a notable dip in its key index, the CSE All Share Price Index (CASPI), which fell by 32 points at the start of the day. The CSE’s trading turnover in the first hour amounted to Tk 79 lakh. Of the traded companies, share prices rose for 28, declined for 26, and remained unchanged for 7. The contrasting trends in the two stock exchanges reflect a mixed start to the trading day across the country.

The private-sector Dutch-Bangla Bank PLC has received approval from the Bangladesh Securities and Exchange Commission (BSEC) to issue subordinated bonds worth Tk 1,200 crore in the market. The approval follows the bank's application on December 28, 2023, seeking to issue the bonds to strengthen its capital base under the Basel III international regulatory framework. According to the Dhaka Stock Exchange (DSE), the bonds will be unsecured, non-convertible, and redeemable in nature. Dutch-Bangla Bank plans to issue a total of 1,200 bonds, each priced at Tk 1 crore. The bank's financial performance has shown a declining trend in recent quarters. Read: MTB invests in treasury bills, bonds as private sector credit growth declines In the third quarter of last year, the bank's earnings per share (EPS) stood at Tk 0.38, a significant drop from Tk 1.97 during the same period in 2023. For the first three quarters of 2024, the bank reported an EPS of Tk 2.70, compared to Tk 4.71 during the same period the previous year.

A high-level delegation from the American Apparel & Footwear Association (AAFA) and the Fair Labor Association (FLA) visited the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Tuesday. The visit aimed at discussing workers’ rights issues and exploring ways to enhance the partnership between the US and Bangladesh in the readymade garment (RMG) sector. The BGMEA delegation, led by Administrator Anwar Hossain, engaged in discussions with the AAFA and FLA representatives. Members of the BGMEA Support Committee — Miran Ali, Asif Ashraf, Rezwan Selim, ANM Saifuddin, Shehabudduza Chowdhury and Shams Mahmud accompanied the administrator. The meeting highlighted opportunities of cooperation in fostering a more sustainable and ethical RMG industry in Bangladesh while strengthening trade relations with the United States. They discussed elaborately the issues of workers' rights, workplace safety, labour law and reforms in Bangladesh. Read: Bangladesh Bank extends import bill payment period to 360 days Several key areas, including increasing trade access for Bangladeshi apparel in the US market, promoting responsible purchasing practices, and the industry’s impressive progress in sustainability initiatives got due importance in the meeting. The delegation also explored potential collaborations in workers’ training programmes and initiatives to further enhance workers’ welfare in the RMG sector. During the meeting, the BGMEA urged AAFA, which represents over 1,000 globally renowned brands, retailers, and manufacturers, and FLA to promote responsible purchasing practices that benefit both buyers and suppliers. BGMEA also requested AAFA’s support in advocating for Bangladesh’s trade interests in the US market, ensuring continued growth and mutual benefit. The delegation appreciated Bangladesh’s progress in workers’ rights and the government’s initiative of forming the labour reform commission and labour law reforms. Read more:Bangladesh's RMG exports reach $38.48 billion in 2024, with strong growth in non-traditional markets The delegation included Nate Herman, Senior Vice President - Policy, American Apparel & Footwear Association; Shelly Han, Executive Vice President and Chief of Staff, Fair Labor Association; Ismail Murad, Manager - Corporate Social Responsibility | Bangladesh & Jordan, Columbia Sportswear Company; Kate Miller, Social Impact Manager, KMD Brands Limited; Tayob Muhammed, Head of Finance/HR, Bangladesh, Perry Ellis International; Stella Mondol, Social Compliance Officer, Bangladesh, Perry Ellis International; Viola Wan, Director of Social Sustainability, Puma; Md. Mostafizur Rahman, Manager of Social Sustainability, Bangladesh, Puma; Moyeen Chowdhury, Branch Manager - Apparel & Accessories, Bangladesh, Puma; Bushra Baten, Manager - Corporate Responsibility, Bangladesh & Pakistan, PVH; Jessica Nursoo, Regional Director - South Asia and Indonesia, VF Corporation; Tiffany Rogers, Director - Innovation and Development, Manufacturing, Fair Labor Association; Chaimae Azmi, Fair Compensation and Member Engagement Manager, Fair Labor Association; and Hannah Larson, Social Compliance Associate, Fair Labor Association.

The Bangladesh Investment Development Authority (BIDA) has unveiled the FDI Heatmap, a data-driven framework designed to drive Foreign Direct Investment (FDI) into the country. Focusing on 19 high-potential sectors, the Heatmap offers a strategic approach to attract global investors. According to BIDA Executive Chairman Ashik Chowdhury, the Heatmap will serve as the guiding framework for all future investor engagements, from roadshows to bilateral treaties and policy support. “This is more than just a plan; it’s the blueprint for all our future touchpoints with investors,” he said. While Bangladesh’s economic fundamentals remain strong, FDI contributions currently stand at just 0.5% of GDP, well below the global average of 3-4%. The Heatmap aims to address this gap by prioritising sectors, identifying key investor markets, and aligning investment strategies with national development goals, including SDGs and ESG priorities. Read: Govt to facilitate business, won’t engage in it: BIDA Executive Chairman The Heatmap categorises 19 sectors into four groups based on market readiness, resource availability, and strategic alignment: Category A (Immediate Targets): Core Apparel, Pharmaceuticals (without API), Agro Processing, IT-Enabled Services, Advanced Textiles, and Renewable Energy.Category B (Enable Quick Entry): Automotive Parts, Footwear, Light Engineering, and Leather.Category C (Customized Deals): Logistics and Electronics & Assembly.Category D (Policy & Capacity Development): EV Batteries, Medical Devices, Technical Textiles, Toys, Active Pharmaceutical Ingredients, Semiconductors, and Plastics.Developed with input from industry leaders including Standard Chartered Bank, HSBC, PwC, EY, BCG, and several other local and international partners, the Heatmap will be operationalised through targeted activities like international investment roadshows and the formation of a public-private advisory council. Read more: Govt approves National Semiconductor Taskforce headed by BIDA The Heatmap will be reviewed annually to ensure its relevance in an ever-evolving global market.

The Dhaka Stock Exchange (DSE) witnessed a slight rise in its key index during the first hour of trading on Sunday, the first working day of the week. In the opening hour, the DSEX, the benchmark index of the DSE, gained 1 point. Among the other indices, the Shariah-based DSES also rose by 1 point, while the blue-chip DS30 index declined by 3 points. During this period, the total turnover on the DSE stood at Tk 94.36 crore. Of the traded companies, the share prices of 165 increased, 116 decreased, and 83 remained unchanged. In a notable development, Power Grid Company Limited announced the removal of its price limit on share trading. Read: DSE ends Sunday’s trading with a downtrend; prices of 282 companies go down Besides, the company revealed that it would not declare any dividends for investors for the July quarter of the last year. Despite the absence of dividends, the company's earnings per share (EPS) for the period stood at Tk 5.01. Meanwhile, the Chittagong Stock Exchange (CSE) also started the week with an upward trend. The CSE All Share Price Index (CASPI) increased by 11 points in the first hour of trading. On the CSE, share prices of 37 companies rose, 19 fell, and 8 remained unchanged. Read more: DSEx and DS30 indexes slide while DSES up by 4.16 points in 1st hour The total turnover at the CSE during this time amounted to Tk 62.29 lakh. Both markets reflect cautious optimism among investors as the week begins, despite mixed movements in individual indices and shares.

The 4-day Dhaka Int'l Yarn and Fabric Show, organized at the International Convention City Bashundhara (ICCB) from January 15-18, was concluded on Saturday with a call to foreign investors to invest more in the textile and apparel sector in Bangladesh. Conference and Exhibition Management Services (CEMS-Global USA) and the Sub-Council of Textile Industry, China Council for the Promotion of International Trade (CCPIT Tex China) jointly organized the four-day exhibition titled: 23rd Dhaka International Yarn and Fabric Show 2025. The 7th Dhaka International Denim Show 2025 also took place alongside the expo. Organisers said the inauguration ceremony of the exhibitions took place on January 15 at Rajdarshan Hall of the ICCB. Besides, four international seminars took place during the exhibition. A series of seminars on different topics were held during the expo where traders and investors got an opportunity to exchange their views on doing business in Bangladesh. Dhaka Int’l Trade Fair: Families flock to Purbachal venue despite distance The exhibitions were open to the Business visitors upon registration every day from 10.00 am to 7.00 pm. Over 325 Exhibitors from 15+ Countries showcased their premium yarns, fabrics, trims, and accessories. Anwar Hossain, Vice Chairman of the Export Promotion Bureau (EPB) & Administrator of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) was present as the chief guest at the opening ceremony of exhibitions on January 15, 2025. Song Yang, Commercial Consulate of the Chinese Embassy in Dhaka and Mohammad Hatem, President, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), Dr. Dewan Muhammad Humayun Kabir, Secretary and Executive Member (Investment Ecosystem), Bangladesh Investment Development Authority (BIDA), Zhang Jian, Secretary of Chinese Embassy were present on the occasion. Bangladesh's RMG exports reach $38.48 billion in 2024, with strong growth in non-traditional markets Panelists in the seminar highlighted the importance of training and education to develop people's behaviour on certification on compliance and how it adds value. The panelists also emphasized the benefits of employees and their functionality. More than 150 participants from different sectors attended the seminar. Prof. Dr. Engr. Ayub Nabi, Pro-Vice Chancellor, BGMEA University of Fashion & Technology talked about the potential of Bangladesh becoming export driven, making imports to zero percent. He said that Bangladesh can expect 100-billion-dollar exports by 2030. A.K.M Saifur Rahman, Vice President, Bangladesh Garment Buying Housing Association (BGBA), emphasised on industry sustainability rather than garment sustainability. Businesses that are inherited should be run well by the consecutive generations coming next. This way industries can sustain. Amer Salim, Director of Knit Asia Ltd. a LEED -Certified Green Garment Factory in Bangladesh said about designing green garments and making them sustainable. A factory should be made green starting from buying land to making finished products-said he.

The Bangladesh Association of Software and Information Services (BASIS) has led a remarkable transformation in the country’s ICT sector evolving from just 18 members in 1998 to over 2,650 thriving national business organisations today, said its Administrator Dr Muhammad Mehedi Hasan on Saturday. “Through this journey, millions of jobs have been created, and local innovative products and services have achieved global recognition. In the fiscal year 2023-24, ICT exports reached $840 million, spanning over 137 countries" he said at a seminar titled “Bangladesh: The Emerging ICT Powerhouse”, held at the Bangladesh-China Friendship Exhibition Centre in Purbachal. "To sustain this progress, I urge all stakeholders to work together towards fostering new innovations, collaboration, and sustainable development,” he added. The seminar underscored Bangladesh’s potential as a global digital hub. Rafael Kabir, Chairman of BASIS's Advisory Committee, emphasised the need to nurture skilled professionals to realise the ICT sector’s vast potential. “With a talented youth base and proper training, Bangladesh can lead globally in ICT. BASIS is instrumental in achieving this, and this seminar will pave the way for new opportunities,” he added. Fida Haq, a member of BASIS’s Advisory Committee, hosted the event, while members Raisul Kabir and Syed Mosharraf Ali shared inspiring success stories of their companies. Policy Advisor Faiz Ahmed Tayeb highlighted BASIS’s ambitious targets for 2030, which include creating 6 to 8 million skilled ICT professionals, contributing 5% of the GDP through ICT, and establishing a robust data governance framework. He also outlined plans to reform high-tech parks and implement the Bangladesh National Data Architecture (BNDA) design. Baby Rani Karmakar, Director General of the Export Promotion Bureau (EPB), lauded young innovators’ contributions to building a tech-driven Bangladesh. She noted how initiatives like reducing entry times at the Dhaka International Trade Fair (DITF) 2025 exemplify the effective use of technology. Special guests included Faiz Ahmed Tayeb, Chief of JICA Bangladesh Ichiguchi Tomohide, JETRO Bangladesh Chief Representative Yuji Ando, and KOTRA Director General Samsu Kim, alongside senior officials. The seminar showcased BASIS’s achievements, such as implementing transformative projects like the E-Tax Filing System, Land Registration Process, and Telehealth Contact Centres. These initiatives, managed by BASIS members, exemplify the sector’s dynamism and success.