United News of Bangladesh

Asian shares were mixed Friday after Wall Street suffered losses, as a US Treasury Department plan to increase purchases of government debt offered only limited relief to financial markets. US stock futures edged higher in early trading. Japan’s Nikkei 225 fell 0.2% to 66,080.25, while South Korea’s Kospi rose 0.9% to 6,914.09. Hong Kong’s Hang Seng gained 0.7% to 25,888.36, while the Shanghai Composite was little changed at 3,903.81. Australia’s S&P/ASX 200 dropped 0.3% to 9,053.90. Taiwan’s Taiex gained 0.4%, while India’s Sensex slipped 0.1%. The Treasury Department said Wednesday it would at least double planned purchases of longer-term government bonds. Treasury Secretary Scott Bessent said Thursday that the buyback programme could be expanded further. The announcement briefly pushed bond yields lower. Yields had risen amid concerns over high inflation, partly linked to the war in Iran, and growing US government debt. Higher yields can increase borrowing costs and put pressure on economic growth and stock prices. However, analysts said the impact was likely to be short-lived. The yield on the 10-year US Treasury note stood at around 4.71% early Friday, up from nearly 4.64% Thursday and back near its level before the Treasury announcement. The 30-year Treasury yield also rose to about 5.26%, from 5.18% Thursday. Bond yields in Asia also moved higher. Japan’s 10-year government bond yield rose to 2.88% from around 2.83% Thursday, after recently reaching levels not seen in about 30 years. Rising bond yields have put pressure on stocks. On Thursday, the S&P 500 fell 0.9%, the Dow Jones Industrial Average dropped 1.3% and the tech-heavy Nasdaq Composite lost 1%. Oil prices edged lower early Friday despite increased US economic pressure on Iran and limited progress in reducing tensions between Washington and Tehran. Brent crude, the international benchmark, fell 0.2% to $93.64 a barrel. It was trading at around $72 before the war began. US benchmark crude fell 0.3% to $86.59 a barrel. The US dollar slipped to 159.01 Japanese yen from 159.05 yen. The euro rose to $1.1694 from $1.1678.

Asian shares rose Thursday, following gains on Wall Street, while South Korea’s benchmark Kospi jumped more than 6% after the US Treasury announced plans to significantly increase its purchases of longer-term government debt. US stock futures also edged higher after the Treasury said it would at least double the size of its planned buybacks of longer-term government bonds. The move could reduce pressure on stock markets from rising bond yields. Increased government bond purchases can push bond prices higher and, in turn, lower yields. South Korea’s Kospi surged 6.1% to 6,858.91 after falling 5.8% on Wednesday as investors sold shares linked to artificial intelligence. Samsung Electronics rose 9.7%, while SK Hynix, a major memory chipmaker, gained 14.1% after announcing a large share buyback programme. Japan’s Nikkei 225 climbed 1.3% to 66,178.26, recovering from losses earlier in the week. Japan reported a trade deficit for the third consecutive month in July, with both imports and exports reaching record levels. SoftBank Group, which has invested in OpenAI, gained 3.8%. Hong Kong’s Hang Seng Index rose 1.1% to 25,786.32, while the Shanghai Composite gained 0.3% to 3,905.23. Australia’s S&P/ASX 200 increased 0.3% to 9,066.40. Taiwan’s Taiex was little changed, while India’s Sensex gained 0.7%. US government bond yields fell after the Treasury announced its expanded buyback plans. Bond prices and yields generally move in opposite directions. The announcement appeared to ease investor concerns about rising borrowing costs. On Wednesday, the S&P 500 rose 0.2%, ending a three-day losing streak. The Dow Jones Industrial Average and Nasdaq composite each also gained 0.2%. US bond yields have climbed in recent months amid concerns about inflation linked to the prolonged war in Iran, rising government debt and other economic pressures. The yield on the 10-year US Treasury note fell to about 4.64%, down from 4.71% on Tuesday. However, it remains significantly higher than before the war in Iran began. The 30-year Treasury yield also declined to 5.18% from 5.28%. Bond yields in Asia also eased following the US Treasury announcement. Japan’s 10-year government bond yield dropped to about 2.83% from above 2.89% on Wednesday. It had recently reached its highest level in about 30 years. Oil prices edged higher Thursday as negotiations between the US and Iran showed little progress. Brent crude, the international benchmark, rose 0.3% to $91.90 a barrel. It was trading at around $72 before the war began. US benchmark crude gained 0.2% to $84.57 a barrel. The US dollar rose to 158.60 Japanese yen from 158.16 yen. The euro was trading at $1.1676, slightly.

Asian shares fell Wednesday as technology stocks came under pressure and rising oil prices added to concerns about inflation and interest rates. South Korea’s Kospi led the regional decline, dropping 5.7% to 6,487.34. Samsung Electronics fell 7.5%, while SK Hynix, a major memory chipmaker, lost 8.8%. In Japan, the Nikkei 225 dropped 3.2% to 65,332.04 as investors sold technology shares and worried about rising bond yields. The yield on Japan’s 10-year government bonds has remained near a three-decade high of more than 2.9%. Investors expect the Bank of Japan to raise interest rates as it tries to control inflation. China’s Shanghai Composite fell 2.2% to 3,903.61. Shares of humanoid robot maker Unitree initially surged nearly 630% in its debut on the Shanghai Stock Exchange’s STAR Market. The company raised about $900 million through its initial public offering. However, shares of UBTech, another major Chinese humanoid robot maker listed in Hong Kong, fell 10.6%. Hong Kong’s Hang Seng index edged down less than 0.1% to 25,460.46. Taiwan’s Taiex lost 1.7%, while Australia’s S&P/ASX 200 declined 0.2% to 9,053. Oil prices also weighed on investor sentiment amid uncertainty over whether the United States and Iran can reach an agreement that would allow oil tankers to move freely out of the Persian Gulf. Brent crude, the international benchmark, rose 0.6% to $91.57 a barrel, while U.S. benchmark crude gained 0.7% to $84.66. Wall Street also ended lower Tuesday, with the S&P 500 falling 0.7% for its third consecutive loss. The Dow Jones Industrial Average slipped 0.2%, while the Nasdaq composite dropped 1.3%. Technology companies that benefited strongly from the artificial intelligence boom led the decline. Investors have become concerned that some AI-related stocks may be overpriced and that demand for chips, memory and other equipment used in data centers could weaken if AI businesses fail to deliver the expected profits. Micron Technology fell 7%, while Nvidia declined 2.3% and Broadcom dropped 3.2%. Despite recent losses, these companies remain among the biggest winners of the AI boom. Micron’s shares, for example, have more than tripled this year. Rising bond yields have also worried investors. Higher oil prices are increasing inflation pressure, while governments are facing large debt burdens and higher borrowing costs. The yield on the 10-year U.S. Treasury fell slightly to 4.70% from 4.72% late Monday but remained well above the 3.97% level recorded before the war with Iran began. The 30-year Treasury yield also edged lower but stayed close to its highest level since 2007. Higher bond yields can make investors less willing to pay high prices for stocks, especially expensive technology shares. They have also pushed the average U.S. mortgage rate close to its highest level in a year, putting pressure on the housing market. A report Tuesday showed that U.S. homebuilders started fewer new homes last month than economists had expected. Higher borrowing costs could also discourage major technology companies from taking on debt to finance new data centers, potentially slowing an important source of growth for the U.S. economy. In early trading Wednesday, the U.S. dollar fell to 159.26 Japanese yen from 159.61 yen. The euro rose to $1.1582 from $1.1577.

Japan’s economy grew an annual rate of 1.1% in the April-June quarter even as private consumption stayed flat and the growth of exports declined, according to government data released Monday. Japan ’s real GDP, or gross domestic product, the sum value of nation’s goods and services, grew at a seasonally adjusted rate of 0.3% from the first quarter to second quarter of this 2026, according to Cabinet Office data. The annualized rate shows what the growth rate would have been if it had continued for a whole year. It was 2.1% in the January-March period. Private spending dipped 1.2% in April-June compared to January-March, while exports grew 0.5%. Exports for the latest period were driven by the global demand for Japanese autos and semiconductors. Japan is home for Toyota Motor Corp., Honda Motor Co. and other top automakers. Global demand for computer chips being powered by interest in AI, helping to support Japan's exports. Government consumption rose 1.6%. Quarterly GDP growth was lower than what analysts had expected. The Japanese economy has been hurt by the war in Iran, which has sent energy costs surging. That’s especially difficult for resource-poor Japan, which imports almost all its oil. The Strait of Hormuz, a vital transport route for oil exports from the Persian Gulf to Asia, has been effectively blocked due to the war, pushing prices higher. Japan has released some oil reserves and is working on alternate routes. Brent crude has been recently trading at about $88 a barrel, up from about $65 a year ago, although that’s lower than earlier this year, when it shot above $110 a barrel. A weak yen has also worked as a plus for some Japanese companies, including giant exporters like Toyota, boosting the value of overseas earnings when translated into yen. But a weak yen makes it more expensive to import raw materials, raising prices for consumers and denting spending. Concerns have been growing about rising prices, as wage growth in Japan has been relatively stagnant. Prime Minister Sanae Takaichi has promised to get growth going again, but her public support ratings, while still high compared to some of her predecessors, have been gradually sinking. The U.S. dollar has been trading at near 160 Japanese yen levels lately, up from about 145 yen a year ago. It was trading at about 159 yen after Monday’s economic data got released. The Bank of Japan recently raised its economic growth outlook to 0.6% for the fiscal year through March next year, from an earlier 0.5%.

Asian and European shares traded mixed on Wednesday as investors awaited the latest US inflation data, while oil prices rose amid uncertainty over when crude supplies disrupted by the war with Iran will return to normal. US stock futures were slightly higher. Futures for the S&P 500 rose 0.2%, while Dow Jones Industrial Average futures were almost unchanged. In early European trading, Germany's DAX gained 0.3% to 26,480.04, while France's CAC 40 fell 0.2% to 8,698.79. Britain's FTSE 100 slipped 0.1%. Asian markets were mixed. Japan's Nikkei 225 rose 0.8% to 67,524.06, while South Korea's Kospi jumped 3.7% to 6,579.04 as investors bought computer chip stocks. Samsung Electronics rose 6.7% and SK Hynix gained 5.5%. Taiwan's Taiex advanced 0.9%. China's Shanghai Composite rose 0.3% to 3,946.68, while Hong Kong's Hang Seng fell 0.8% to 25,440.17. Australia's S&P/ASX 200 dropped 0.5% to 9,209.40. Brent crude, the international benchmark, rose 1% to $89.79 a barrel in early trading. US benchmark crude also gained 1% to $84.07. Oil prices have risen as uncertainty continues over the impact of the war with Iran on global supplies and shipping routes. Iran has rejected US President Donald Trump's remarks that Tehran's demand for compensation in any negotiations to end the war would lead Washington to make a similar demand. The United States and Israel attacked Iran in late February, leading to the closure of the Strait of Hormuz and disrupting the movement of a significant amount of oil from the Middle East. Brent crude prices fluctuated between $72 and $102 a barrel last month. Concerns about regional shipping also increased after Iran-backed Houthi rebels attacked a vessel in the Bab el-Mandeb strait near Yemen. Ben May, director of global macro research at Oxford Economics, said renewed fighting between the United States and Iran could result in a prolonged reduction in shipping through the Strait of Hormuz. Oxford Economics expects Brent crude to average around $85 a barrel for the rest of this year before falling gradually to about $65 by late 2027. Higher oil prices can add to inflationary pressure. The average price of regular gasoline in the United States has risen to $4.01 a gallon, according to AAA, up from less than $3.14 a year ago. Investors are now closely watching the US government's latest inflation report, due Wednesday. Economists expect annual inflation to ease slightly to 3.4% in July from 3.5% in June. On Wall Street on Tuesday, the S&P 500 fell 0.3%, extending its second modest decline since reaching a record high on Friday. The Dow dropped 184 points, or 0.3%, while the Nasdaq composite fell 0.6%. A weaker-than-expected inflation reading could reduce pressure on the Federal Reserve to raise interest rates. While higher rates can help control inflation, they also make borrowing more expensive for households and businesses and can weigh on economic growth and investment prices. US Treasury yields have risen since the war with Iran began, driven by higher oil prices and inflation concerns. The increase has pushed long-term mortgage rates to their highest level in a year. In early currency trading, the US dollar slipped to 159.22 Japanese yen from 159.30 yen. The euro was unchanged at $1.1544.

Oil prices remained largely unchanged Tuesday after rising 5% in the previous session, as uncertainty continued over when the Strait of Hormuz might reopen and allow crude shipments to resume normally. US stock futures edged higher in early trading. Brent crude was unchanged at $87.72 a barrel, while US benchmark West Texas Intermediate also remained flat at $82.13 a barrel. Brent prices jumped 5% Monday after fluctuating sharply in recent weeks amid uncertainty over whether the United States and Iran could reach an agreement that would allow oil tankers to leave the Middle East freely and supply global markets. Asian stock markets were mixed Tuesday after US shares moved lower from their recent record highs. South Korea's Kospi rose 1.5% to 6,391.71, helped by a 4.6% gain in Samsung Electronics shares. Chipmaker SK Hynix also advanced 1.3%. Tokyo markets remained closed for a public holiday. Hong Kong's Hang Seng Index fell 0.6% to 25,773.56, while the Shanghai Composite slipped 0.1% to 3,964.79. Australia's S&P/ASX 200 gained 0.5% to 9,277 after the Reserve Bank of Australia kept its benchmark interest rate unchanged at 4.35%. Taiwan's Taiex rose 0.4%, while India's Sensex declined 0.4%. On Wall Street Monday, the S&P 500 fell 0.1% from Friday's record high. The Dow Jones Industrial Average also lost 0.1%, while the Nasdaq composite declined 0.3%. The strong US stock market rally has recently slowed despite robust corporate earnings. According to FactSet, earnings per share for S&P 500 companies are expected to have risen about 50% in the spring from a year earlier. If confirmed, it would mark the strongest growth in five years. Berkshire Hathaway rose 1.5% after reporting stronger-than-expected quarterly profit. The company, which is known for investing in stocks it considers attractively priced, also said it had invested part of its large cash reserves in stocks under new CEO Greg Abel. MarineMax surged 46.1% after the retailer and marina operator agreed to be acquired for about $1.5 billion in cash by a Blackstone portfolio company. Varex Imaging jumped 48.8% after Teledyne Technologies announced plans to acquire the X-ray imaging components maker for $18.90 per share in cash. Intel shares, however, fell 4.1% after the company said it could sell up to $15 billion worth of stock. The move could reduce existing shareholders' ownership stakes, while the company said the proceeds would likely be used to invest in artificial intelligence technology. Investors are now focusing on Wednesday's US inflation report for July. Economists expect annual inflation to ease to 3.4% from 3.5% in June, which could reduce pressure on the Federal Reserve to raise interest rates. Higher interest rates can help control inflation but may also slow economic growth by increasing borrowing costs for households and businesses. They can also put pressure on stock and other investment prices. In currency trading early Tuesday, the US dollar slipped to 159.19 Japanese yen from 159.30 yen. The dollar has continued to strengthen against the yen despite recent intervention by Japan and the US aimed at supporting the Japanese currency. The euro was unchanged at $1.1544. Gold, which is often considered a safe-haven asset during periods of uncertainty, rose 1.2% to $4,472.90 an ounce.

Asian shares were mixed on Monday after US stocks ended last week higher, with Japan's Nikkei 225 leading gains. Oil prices also rose amid concerns over tensions in the Middle East and threats to key shipping routes. US stock futures were little changed. In Tokyo, the Nikkei 225 rose 2% to 66,890.02, helped by strong gains in technology stocks. Tokyo Electron, which makes equipment for chip production, gained 3.5%, while chip-testing equipment maker Advantest jumped 4.9%. South Korea's Kospi rose 0.8% to 6,305.86, although major chipmakers fell. Samsung Electronics dropped 0.9% and SK Hynix declined 1.3%. Analysts said some foreign investors were selling shares in major technology companies to take profits after recent gains and shift money into other sectors, including defense companies. Hong Kong's Hang Seng Index gained 0.6% to 25,810.95, while China's Shanghai Composite was almost unchanged at 3,941.48. Australia's S&P/ASX 200 fell 0.4% to 9,231.00. Taiwan's Taiex rose 1.8%, while India's Sensex gained 0.1%. Oil prices climbed amid renewed concerns over the Middle East. Israel rejected a Gaza deal announced by US President Donald Trump, while details also emerged about a possible agreement between Iran and Oman concerning the Strait of Hormuz. Iran has suggested that vessels linked to countries it considers hostile could be barred from using the strategic waterway. Meanwhile, Yemen's Iran-backed Houthi rebels attacked a government-controlled port on the country's Red Sea coast, raising further concerns about the safety of shipping routes and the possibility of renewed conflict in Yemen. Brent crude, the international benchmark, rose 0.6% to $84.04 a barrel, while US benchmark West Texas Intermediate crude gained 0.5% to $78.58 a barrel. Wall Street ends week higherUS stocks gained on Friday after government data showed employers unexpectedly cut 23,000 jobs last month. The weaker jobs figures raised expectations that the Federal Reserve could delay raising interest rates as it tries to control inflation. The news helped push all three major US indexes to their second consecutive weekly gains, with the S&P 500 reaching another record high. The S&P 500 rose 0.6% to 7,757.64, while the Dow Jones Industrial Average gained 0.3% to 54,036.93. The Nasdaq Composite jumped 1.3% to 26,690.62. The jobs report also raised concerns about household spending as inflation remains high. The government revised its figures for May and June, reducing the combined number of jobs reported for those months by 103,000. Slower job growth makes it more difficult for the Federal Reserve to balance supporting employment with controlling inflation. Higher interest rates can reduce inflation by slowing economic activity, but they can also make borrowing more expensive for businesses. Technology companies again led the gains. Nvidia rose 2.3%, while Broadcom gained 1.7%. The yield on the 10-year US Treasury note fell to 4.64% from 4.67% before the jobs report. The two-year Treasury yield, which is more closely linked to expectations for Federal Reserve policy, dropped to 4.20% from 4.22%. Inflation data in focusInvestors will closely watch several inflation reports this week, particularly the consumer price index (CPI). US consumer inflation is expected to have risen 3.4% in July, slightly slower than the 3.5% increase recorded in June. Inflation has remained above 3% for most of the year. In early Monday trading, the US dollar rose to 158.37 Japanese yen from 157.71 yen. The euro fell to $1.1553 from $1.1568.

Asian stocks were mixed on Friday after US shares pulled back in the previous session, while oil prices climbed more than 1% amid continued uncertainty over the reopening of the Strait of Hormuz. Japan's Nikkei 225 fell 0.3% to 65,500.10, while South Korea's Kospi declined 0.8% to 6,242.88. Taiwan's Taiex also dropped 0.4%. In contrast, China's Shanghai Composite rose 0.8% to 3,931.54 after the country reported that exports increased by around 24% in July. Although growth slowed slightly, demand remained strong for electronics and other high-tech products. China's trade surplus narrowed during the month, while imports also eased. Hong Kong's Hang Seng edged up 0.2% to 25,582.34, while Australia's S&P/ASX 200 slipped less than 0.1% to 9,265.20. On Wall Street, stocks fell Thursday as higher oil prices and a stream of corporate earnings weighed on investors. The S&P 500 declined 0.2%, the Dow Jones Industrial Average dropped 0.9% and the Nasdaq composite lost 0.1%. Brent crude jumped nearly 4% Thursday as uncertainty continued over efforts to reopen the Strait of Hormuz, a key route for global oil supplies. Iran has said it is nearing an agreement with Oman on reopening the strategic waterway, while US President Donald Trump has also previously indicated that a deal could be close. However, negotiations have faced repeated setbacks over the past five months. A reopening could require a compromise, as the Trump administration has rejected any Iranian plan to charge fees to ships. Iran, meanwhile, has insisted on retaining some control over the waterway. Early Friday, Brent crude, the international benchmark, rose 1.6% to $83.78 a barrel, while US benchmark crude gained 1.2% to $78.22. About one-fifth of the world's traded oil and natural gas previously passed through the Strait of Hormuz. Oil prices have climbed as high as $113 a barrel during the conflict, increasing inflationary pressure by raising fuel and shipping costs. Markets remain concerned about the war and the possibility of an investment bubble linked to artificial intelligence. However, stronger-than-expected corporate earnings have eased some worries that US stocks may be overvalued. About 85% of S&P 500 companies have reported their latest earnings, with overall profit growth on track to be the strongest since 2021. Warner Bros. Discovery gained 1.7% after posting better-than-expected earnings, while Molson Coors rose 1.3% following encouraging results. Honeywell Aerospace was among the biggest losers, falling 23.2% after its results came in well below expectations. Digital advertising company AppLovin dropped 19.7% after reporting mixed quarterly results. Meanwhile, SpaceX shares rose 6.1% after a lockup period expired Thursday, making more than 911 million shares held by early investors and employees eligible for sale. That figure is more than twice the number of shares initially offered to the public in the company's initial public offering. SpaceX shares climbed as high as $225 following its market debut in June but have since fallen below the initial offering price of $135. The stock was trading around $115. Investors are also awaiting the US monthly jobs report for July, due Friday. The US labour market remains relatively strong, although hiring growth has slowed. A weekly report released Thursday showed applications for unemployment benefits increased last week, though layoffs remained at historically low levels seen in recent years. Employers added only 57,000 jobs in June. In early Friday trading, the US dollar slipped to 158.35 Japanese yen from 158.42 yen, while the euro was unchanged at $1.1524.

United States apparel imports experienced a broad decline in the first half of 2026, according to recent data from the Office of Textiles and Apparel (OTEXA). Total apparel imports fell to $35.09 billion during the January-June period of 2026, marking an 8.04 percent decrease compared to the same period in 2025. In terms of volume, measured in square metre equivalent (SME), imports dropped by 8.50 percent, while the average unit price saw a slight rise of 0.50 percent. Garment production hit in Savar as fuel crisis, load shedding disrupt operations Apparel imports from Bangladesh by the US totalled $4.01 billion in the first six months of 2026, down by 5.75 percent year-on-year. However, for the single month of June 2026, imports from Bangladesh grew by 5.74 percent compared to June 2025, reaching $763.57 million. In terms of import value during the January-June period, Cambodia posted the highest growth at +12.32 percent, followed by Indonesia +3.40 percent and Vietnam +1.08 percent.  Conversely, major supplying countries recorded declines, with Pakistan down 3.50 percent, Bangladesh down 5.75 percent, India down 25.27 percent, and China seeing the steepest decline at 37.69 percent. In terms of import volume, Cambodia +14.59 percent, Indonesia +10.89 percent, Vietnam +3.30 percent, and Pakistan +2.26 percent all achieved positive growth. On the other hand, Bangladesh's import volume dropped by 3.69 percent, while India experienced a 22.74 percent fall and China's volume dropped by 26.30 percent. Regarding average unit prices, all major suppliers saw a reduction. Unit prices for both Vietnam and Bangladesh fell by 2.15 percent, while Cambodia dropped 1.98 percent, India dropped 3.28 percent, Pakistan dropped 5.63 percent, Indonesia dropped 6.75 percent, and China dropped 15.46 percent. Analysing the trends, Mohiuddin Rubel, founder and chief executive officer of Bangladesh Apparel Voice (BAV), noted that Bangladesh's decline in the first half of 2026 was smaller than those of China and India, and remained roughly in line with Pakistan's performance.

The Ministry of Commerce has invited government agencies and stakeholders to submit written feedback by Sunday on a draft "Gold Policy 2018 (Amended) 2026," aimed at transforming the country's gold sector from an informal state into a legal, recognised and accountable business sector. Commerce Minister Khandaker Abdul Muktadir gave the directive on Thursday while chairing a meeting on the draft policy at the ministry's conference room. Gold price jumps by Tk 9,856 per bhori The minister said the gold sector has long played a significant role in the economy but has failed to achieve full institutional shape due to the absence of proper policy and regulatory frameworks, adding that regulatory weaknesses, not businesses alone, should be held responsible for the situation. "We need to fix our mindset. It has not been right for a recognised business sector to remain outside a formal structure for so long. This situation arose because necessary steps were not taken in time. We now want to bring the sector under a legal and institutional framework," the minister said. Noting that the government aims to allow the gold sector to operate like other industrial and business sectors, Muktadir said formalisation would boost employment generation, legal imports, revenue collection, and transparency in gold stocks and transactions, with businesses paying duties and taxes as per rules while the government ensures favourable regulations. Every stage of the purchase, sale and storage of legally imported gold must be brought under accounts, he said, adding that regulators should have regular oversight of how much gold traders hold, how much is sold, and where it is sourced from. Highlighting the economic importance of gold, the minister said one of the primary functions of currency is to preserve value, and gold is similarly recognised internationally as a means of preserving value, with central banks across the world holding significant gold reserves alongside foreign currency. "If $4 billion or $10 billion worth of gold is legally imported into the country and remains here instead of being illegally taken abroad, then value is essentially being preserved within the country," he said. To prevent gold from being smuggled abroad, the minister stressed avoiding an abnormal gap between domestic and international market prices, noting that a significantly lower local price compared to neighbouring or nearby countries creates economic incentives for illegal outflow. He said international gold prices, particularly rates from major trading hubs including Dubai, must be considered while setting customs duties and tax rates. The minister said the policy is not limited to gold imports but also gives serious consideration to the potential for jewellery manufacturing and exports through value addition within the country, adding that allowing raw material imports at minimal and reasonable duties would enable local artisans and entrepreneurs to produce internationally competitive products. He said two aspects need consideration: first, whether gold imported at international prices can be exported after value addition domestically; and second, the significant domestic demand for gold, particularly for weddings and social occasions, which requires the policy to also account for the purchasing power of ordinary consumers. Noting that rising gold prices are putting pressure on common people, the minister said a rational policy and supply system would increase market competition and allow consumers to purchase gold at comparatively fairer prices. Before finalising the draft policy, the ministry will review the policies and regulatory systems of three to four gold jewellery-exporting countries, including India, the minister said, adding that a comparative analysis will be conducted of their import systems, tariff structures, stock management, export facilities and monitoring mechanisms against Bangladesh's proposed policy. He called on the National Board of Revenue (NBR), Bangladesh Bank and other relevant agencies to identify possible questions, risks and implementation-related complexities and submit written opinions accordingly. "It is not the government's intention to push the sector into a new crisis by formulating this policy. Everyone involved here is experienced and aware. We must collectively build a framework that prioritises the country's interest, so that the gold sector becomes legal, transparent and sustainable," the minister said. The meeting was told that after compiling feedback from various stakeholders, another stakeholder meeting would be held if necessary, following which the revised gold policy would be finalised at the earliest. Commerce Secretary Ataur Rahman Khan presided over the meeting, where Bangladesh Jewellers Association (BAJUS) President Enamul Haque Khan and Bangladesh Export Promotion Bureau (EPB) Vice Chairman Mohammad Hasan Arif, among others, spoke. Representatives from the NBR, Bangladesh Bank and other relevant government agencies and the gold sector also shared their views at the meeting.