United News of Bangladesh

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.

The prices of vegetables, chicken, beef and other essential commodities rose once again in Banani Kitchen Market following the departure of the Commerce Ministry’s market monitoring team on Thursday. The prices of various kitchen staples dropped by Tk 15 to Tk 50 when the monitoring team was present, only to return to their previous high levels after the team left the market. The market inspection took place at around 11 am, led by Sultana Akhter, Deputy Secretary of the Ministry of Commerce. Magfur Rahman, Assistant Director of the Directorate of National Consumer Rights Protection and other officials were present during the monitoring. Read: Ban on polythene bags to be enforced in supermarkets from Oct 1, kitchen markets from Nov 1: Environment Adviser During the visit, the market appeared to comply with the ministry's pricing standards as price lists were visibly hung in different shops, showing beef being sold at Tk 750 per kg, mutton at Tk 1,000, broiler chicken at Tk 200 per kg, Sonali chicken at Tk 280 per kg, eggs at Tk 160 per dozen, potatoes at Tk 55 per kg, green chilli at Tk280 per kg, local onions at Tk 115 per kg, and Indian onions at Tk 110 per kg. Shortly after the officials left the market, the prices surged again with beef price rising to Tk 780 per kg, while that of broiler chicken to Tk 220 per kg, Sonali chicken to Tk 300 per kg, potatoes to Tk 60 per kg, local onions to Tk 120 per kg, and green chilli to Tk 300 to Tk 320 per kg. While talking to UNB, a trader said that they were compelled to adhere to the ministry’s price list during the inspection to avoid fines. “We were warned to follow the prices fixed by the Ministry. But selling at these prices means we can barely cover our costs,” he said. Jounal went on saying, “The wholesale prices are higher than what is mandated, and we are not at fault here. The wholesale syndicate should be broken first; otherwise, retail traders like us will continue to struggle under such inspections.” Read more: Essentials’ prices up in Khulna kitchen markets Most traders in Banani Kitchen Market were already aware of the monitoring team’s visit beforehand, allowing them to prepare and display the ‘appropriate’ prices during the inspection, Joynal added.

Advisers Council Committee on Government Purchase (ACCGB) on Wednesday approved a total of five proposals including imports of LNG, lentil, and fertiliser. Finance Adviser of the interim government Dr Salehuddin Ahmed presided over the meeting. As per a proposal, moved by the Energy and Mineral Resources Division,  state-owned Petrobangla will import a cargo, containing 33.66 lakh MMBtu of LNG, from Gunvor Singapore Pte Ltd at international spot market at a total cost of Tk 657.13 crore with each MMBtu at $13.93. Purchase body approves import of LNG, fertilisers The committee also approved a proposal of the Trading Corporation of Bangladesh (TCB) to procure 10,000 metric tons (MT) of lentil from Payel Traders of Chottagram at a cost of Tk 96.39 crore. The supplier was selected through an open tender. A proposal of Bangladesh Agriculture Development Corporation (BADC) received approval of the committee to import 30,000 MT of TSP fertiliser from OCP S.A of Morocco at a cost of Tk 149.40 crore with each MT at $415. The Ministry of Agriculture moved the proposal to import the bulk fertiliser under a state-level contract. Govt to purchase LNG from 23 listed companies in int’l spot market through open tender Two proposals of Bangladesh Chemical Industries Corporation (BCIC), moved by Industries Ministry received the nod of the ACCGB to import urea fertiliser. Under the proposals, the BCIC will import 30,000 MT of bulk granular urea fertiliser from SABIC Agri-nutrients Company of Saudi Arabia at a cost of 128.22 crore with each MT at $356.17. The BCIC will import 30,000 MT of bagged granular urea from Karnaphuli Fertiliser Company Ltd (Kafco) at a cost of Tk 123.61 crore.  

Dhaka Stock Exchange (DSE) closed on a positive note on Wednesday, gaining 98 points in its broad index with a daily transaction volume of Tk 376.60 crore, marking an increase from the previous day's turnover. The DSE Broad Index rose by 98 points to close at 5,422 points, while the DSE Shariah Index (DSES) increased by 18 points, reaching 1,205 points. The DSE-30 Index, which tracks the top 30 companies, gained 45 points, closing at 2,198 points. Of the 396 companies and mutual funds traded, 327 saw their share prices increase, 37 declined, and 32 remained unchanged, reflecting overall positive market sentiment. Read: DSEX climbs by 26.99 points as majority of listed companies show gains The daily turnover on the DSE amounted to Tk 376.60 crore, an increase of Tk 21.23 crore compared to the previous day’s transaction of Tk 355.37 crore. On the Chittagong Stock Exchange (CSE), the CASPI Index gained 173 points, closing at 15,135 points. A total of 204 companies participated in the day’s trading, with 125 seeing price increases, 53 experiencing declines, and 26 remaining unchanged. The CSE recorded a turnover of Tk 8.31 crore, down from the previous day’s transaction of Tk 11.32 crore. Read more: DSEX drops by 43 points as prices of 288 companies fall, Chittagong Stock Exchange follows suit

Bangladesh Bank has announced that all banks across the country will remain closed on Thursday, October 10, in observance of Durga Puja, following a government-declared holiday. The Ministry of Public Administration issued an official notification on October 8, confirming the nationwide general holiday as part of Durga Puja celebrations. The holiday was announced via an executive order from the interim government. In response, Bangladesh Bank issued a separate notice through its Department of Offsite Supervision. The notice was circulated late Tuesday night, informing banks of the closure. Read: Cumilla’s Bibir Bazar land port to remain shut for six days marking Durga Puja However, bank branches, sub-branches, and booths located in key areas such as seaports, land ports, and airports will remain operational under special arrangements to ensure uninterrupted services in these crucial sectors. This holiday closure is part of the national observance of Durga Puja, a major religious festival for Hindus. Read more: Durga Puja begins

With four days left to end the deadline, Bangladesh has so far exported 459 metric tonnes (MT) of Hilsa to India marking the Durga Puja, the largest religious festival of the Hindu community across the world, through the Benapole land port. The export started through the country's largest land port with 54.460 tonnes on September 26, and India received 459 tonnes sent through the land port over the past 12 days. The government set a price of $10 equivalent to Tk 1, 180 per Kilogram of Hilsa. 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. Then the export price of Hilsa was fixed at $ 10 per kg in line with the market price of that time. Hilsa is still being exported according to the circular. However, the price of hilsa may be adjusted in line with the domestic market price, he said. Rashedul Sajib Nazir, deputy director of the land port, confirmed that they could export only 459 tonnes of Hilas since September 26. Read more: Bangladesh missing hilsa export target to India for Durga Puja since 2019 It may be mentioned a five day holiday centring Durga Puja will begin from Thursday and activities of the land port will remain suspended till after the end of the Puja.

The Dhaka Stock Exchange (DSE), the country's main capital market, opened the week on a positive note as stock prices of the majority of listed companies showed an upward trend during Monday's trading session. According to early market data, the DSEX, DSE's benchmark index, gained 3.49 points, reaching 5,382 points within the first hour of trading by 11 am. The Shariah-compliant index, known as DSES, also saw a rise of 3.90 points to 1,194 points, while the DS-30 index, which tracks the performance of blue-chip stocks, increased by 1.68 points, reaching 1,965 points. Read: Dhaka Stock Exchange investors demand BSEC Chairman’s resignation amid market instability During this period, a total of 89.95 crore shares and units were traded across the exchange. Market performance was mixed, with the share prices of 147 companies rising, 145 companies falling, and 74 companies remaining unchanged.