The newly formed government will take steps to defer Bangladesh's graduation from the Least Developed Country (LDC) category, said Commerce Minister Khandaker Abdul Muktadir.

Speaking to reporters at the Secretariat today (18 February), the minister said the government is committed to pursuing a delay in LDC graduation and will take "all required measures" to achieve that goal.

The initiative has already been launched by the Ministry of Commerce in coordination with the Economic Relations Division (ERD), he added.

Referring to long-standing demands from business associations, the minister said the issue is being treated with the highest priority. Although there is no obligation to submit a formal request within the first week of taking office, work on the matter has already begun, he said.

Exports must be diversified

Addressing the recent slowdown in exports, the minister noted that Bangladesh's export structure remains heavily concentrated, with nearly 85% of total exports dependent on a single product category.

"To overcome this vulnerability, we must diversify our export basket, introduce new products and expand into new markets," he said. The government also aims to support private sector entrepreneurs willing to invest and expand operations.

He pointed to global trade uncertainties, particularly sudden shifts in US tariff policy, as contributing factors. As a developing economy with limited margins for error, Bangladesh cannot afford policy missteps, he said, adding that the government will work to reverse the recent sluggish trend in trade and investment.

Ramadan market a 'major test'

On concerns over price stability during Ramadan, the minister said the government has sufficient stocks of essential commodities and adequate pipeline supplies to ensure market stability.

"If supply remains normal, the market will remain stable. There is no reason for panic," he said.

Responding to questions about alleged market syndicates that often surface during Ramadan, the minister said he prefers results over rhetoric. "I will not give sound bites; Inshallah, I will demonstrate through action," he remarked.

He attributed price hikes at the beginning of Ramadan to a one-time surge in demand, as consumers often purchase for the entire month at once, temporarily increasing pressure on retail markets.

Investment climate key to growth

On domestic and foreign investment, the minister stressed that uncertainty discourages investors. "The first condition for investment is stability. Investors need assurance of expected returns on their capital and labour," he said.

Bangladesh has a large working-age population, with approximately 2 to 2.2 million people entering the labour market annually. However, stagnant investment over the past two to three years has created mounting pressure on employment and economic growth, he warned.

Responding to a question about whether managing Ramadan immediately after assuming office poses a challenge, the minister described it as a significant test for the government.

"This is not about any individual—it is about the country," he said, urging cooperation from the media and all stakeholders. "If we work together and correct mistakes when they occur, we can move the country forward."

The Foreign Investors’ Chamber of Commerce and Industry (FICCI) has urged the government to prioritise foreign direct investment (FDI)-friendly policies, backed by structural and regulatory reforms to strengthen investor confidence and ensure sustainable economic growth.

In a press release, the chamber said it stands ready to work closely with the government to improve the investment climate, attract quality foreign investment, support economic reforms, generate employment and reinforce the country’s economic foundations.

The chamber also congratulated the newly formed government following the swearing-in of the cabinet, including Prime Minister Tarique Rahman and other members of the parliament.

FICCI expressed hope that the new leadership’s vision for national progress would translate into timely and effective actions to accelerate economic growth and foster a favourable investment environment.

FICCI President Rupali Chowdhury said the new leadership had assumed office at a defining moment in the country’s history. “We wish the government every success in steering the country forward,” she said.

She emphasised the need to restore investor confidence, improve the ease of doing business, reduce operational costs, ensure policy predictability and pursue business-friendly reforms.

Highlighting the role of foreign direct investment, she said FDI remains critical for driving sustainable growth, creating jobs and enhancing Bangladesh’s global competitiveness.

Shares of S Alam Cold Rolled Steels Limited surged 9.59% today (18 February) to close at Tk16 on the Dhaka Stock Exchange PLC (DSE), capping a sharp rally that has seen the stock gain 50% so far in February.

Since 1 February, the company's share price climbed from Tk10.7 to Tk16 as of today, despite ongoing operational and financial challenges. Yesterday (17 February) saw some 14.31 lakh shares traded, with a turnover of Tk2.23 crore.

The rally comes even after the DSE downgraded the company from "B" to "Z" category on 4 January 2026 under a directive of the Bangladesh Securities and Exchange Commission (BSEC). The downgrade followed the company's failure to hold its annual general meeting within the stipulated timeframe.

In line with another BSEC directive, stockbrokers and merchant bankers have been instructed to refrain from providing margin loan facilities to purchase the company's shares from the same date.

Company officials have attributed the non-holding annual general meeting due to the absence of its directors. They also reported operational disruptions due to raw material shortages, caused by difficulties in opening letters of credit as banks were uncooperative.

The firm, the only listed entity under the controversial S Alam Group, recently disclosed that its bank accounts have been frozen and that restrictions on opening LCs have severely hampered production.

Several banks, including Janata Bank and Islami Bank, have initiated processes to auction the company's assets to recover mounting defaulted loans.

Financial disclosures paint a challenging picture. For the first nine months of FY24, the company reported revenue of Tk388.82 crore, down 18% year-on-year, while profit plunged 56% to Tk2.50 crore.

In FY23, it posted a net profit of Tk4.78 crore and declared a 5% cash dividend.

However, the company has yet to publish its annual accounts for FY24 and FY25 and has also missed the deadline for releasing its first-quarter FY25 financial statements.

Shares dipped and oil prices dropped back Tuesday as Tehran gave an encouraging response during talks with US officials in Geneva on Iran’s nuclear programme, after days of escalating rhetoric from President Donald Trump.

Oil prices had earlier risen after Trump ramped up threats towards Iran, a large crude producer, but Iranian Foreign Minister Abbas Araghchi “a new window of opportunity has opened”.

“We are hopeful that negotiation will lead to a sustainable and negotiated solution,” he said, though he said “Iran remains fully prepared to defend itself against any threat or act of aggression”.

West Texas Intermediate was down 0.2 percent at $62.75 per barrel after earlier jumping 1.5 percent, while international benchmark Brent North Sea Crude slipped 1.4 percent to $67.64. “There’s speculation that Iran could agree to dilute its most highly enriched uranium in exchange for the full lifting of financial sanctions, but it’s not clear if that will be enough to seal a deal between the two parties,” said Aarin Chiekrie, analyst at Hargreaves Lansdown.

Wall Street was off in early trading with the tech-heavy Nasdaq giving up one percent and the Dow sliding around 0.3 percent and the broader-based S&P 500 was off 0.2 percent.

“Insurance brokers, wealth advisors, real estate services, and logistics were all in the firing line last week, and investors are cautiously watching for what slice of the market could be next on the AI hit list,” Chiekrie added.

European stocks steadied in early afternoon deals after Tokyo closed lower, with Chinese markets again shut for the Lunar New Year.

In foreign exchange, the dollar rose against the British pound as official data showed UK unemployment rising to a five-year high.

Analysts said the reading of 5.2 percent for the final quarter of last year increased the likelihood of the Bank of England cutting its benchmark interest rate next month.

The greenback was also higher versus the euro but fell against the yen.

Europe’s biggest economy Germany is unlikely to rebound in 2026 as geopolitical uncertainty, high costs and weak domestic demand weigh on growth, the country’s Chamber of Industry and Commerce said Tuesday.

Germany returned to weak growth in 2025 after two years of recession.

India’s Adani Group said Tuesday it plans to invest $100 billion by 2035 to develop “hyperscale AI-ready data centres”, a boost to New Delhi’s push to become a global artificial intelligence hub.

The announcement comes as India hosts a five-day global AI summit that will see deliberations over issues ranging from job disruption to child safety.

The summit will gather 20 national leaders and 45 ministerial-level delegations -- with the key day on Thursday -- who will rub shoulders with tech CEOs including Sam Altman of OpenAI and Google’s Sundar Pichai.

The $100 billion investment would catalyse an additional $150 billion in spending across “server manufacturing, advanced electrical infrastructure, sovereign cloud platforms and supporting industries”, the Adani Group said in a statement.

“Together, this is projected to create a $250 billion AI infrastructure ecosystem in India over the decade,” the statement noted.

The sprawling ports-to-power conglomerate said its vision is “anchored” by key partnerships with Google -- which aims to establish a massive data centre campus in the coastal city of Visakhapatnam -- and Microsoft.

“The Adani Group is also in discussion with other major players seeking to establish large scale campuses across India thereby further cementing its position as India’s premier AI infrastructure partner,” the statement added.

Last year India leapt to third place -- overtaking South Korea and Japan -- in an annual global ranking of AI competitiveness calculated by Stanford University researchers.

But despite plans for large-scale infrastructure and grand ambitions for innovation, experts say the country has a long way to go before it can rival the United States and China.

The dollar held gains on Tuesday as markets awaited signals, expected later this week, about the potential timing of rate cuts by the Federal Reserve.

The yen trimmed losses from a day earlier when worse-than-expected Japanese economic data stirred expectations that the government would ramp up stimulus. The Aussie dollar edged lower after minutes from the Reserve Bank of Australia showed policymakers were in no rush to raise rates.

Trading was thin with many markets in Asia closed for the Lunar New Year holiday and following the President’s Day holiday in the US Key economic events lie later in the week, with minutes from the Fed’s last meeting and advance figures on US gross domestic product.

“We’re quite positive on the US economy,” said Kristina Clifton, senior currency strategist at Commonwealth Bank of Australia in Sydney. “The market is currently pricing a high chance of a June interest rate cut, which is also our view. However, we differ from the market in that we expect a follow-up cut in July.”

“We judge that the most important driver of the dollar through 2026 will be the narrative of US exceptionalism,” she added.

The dollar index , which measures the greenback against a basket of currencies, inched up to 97.12 after a 0.2 percent gain in the previous session. The euro slid 0.1 percent to $1.184.

The yen strengthened 0.3 percent to 153.04 per dollar. Sterling weakened 0.11 percent to $1.3607.

Data on Friday showed US consumer prices increased less than expected in January, giving the Fed additional leeway for policy easing this year. Money market traders are pricing about 59 basis points of easing for the rest of this year.

The Fed’s Open Market Committee issues minutes from its January meeting on Wednesday. Other key data points this week include inflation readings for Britain, Canada and Japan, as well as preliminary readings of global business activity on Friday.

A recent rally in the yen stalled on Monday when official figures showed Japan’s economy barely grew last quarter. Japan’s currency remains about 4 percent weaker against the dollar since fiscal dove Sanae Takaichi became prime minister last year.

Money flowing into Japan’s ebullient stock market along with expected rate hikes by the Bank of Japan are starting to turn the tide on yen weakness, said Bart Wakabayashi, the Tokyo branch manager at State Street.

“Investments continue to come into Japan and it’s looking good,” he said. “Real money investors have been reducing their overweight in dollar-yen, so buying the yen and selling the dollar.”

Exports from the Port of Los Angeles, the busiest US gateway for ocean trade, fell 8% in January to the lowest monthly output in nearly three years, Executive Director Gene Seroka said on Tuesday.

"Exports to China look dismal," Seroka said after the Port of Los Angeles handled 104,297 20-foot equivalent units (TEUs) of loaded export containers in January.

President Trump's aggressive use of tariffs has upended global trade and retaliatory trade duties from China and other nations have hit US exporters like farmers particularly hard.

Soybean shipments from the Port of Los Angeles to China dropped 80% last year, Seroka said, adding that the trade did not improve in November or December, following discussions between representatives of the two nations on the sidelines at the Asia-Pacific Economic Cooperation Summit.

"There's not much that the United States is exporting to China these days," said trade expert Chad Bown, a senior fellow at the Peterson Institute of Economics, who added that outgoing US shipments of everything from beef and corn to crude oil and coal also fell in 2025.

Closely watched imports to the Port of Los Angeles came in at 421,594 TEUs in January, down 13% from the unusually strong result the year earlier, Seroka said.

So far, imports in February appear relatively flat compared with a year earlier. Imports will slow in March due to China factory closures for the Lunar New Year holiday, he said.

Still, Seroka expects total first-quarter volume at the port to fall less than 10% versus the year-earlier quarter, when US importers were rushing in goods before President Donald Trump's threatened tariffs on countries like China took effect.

"I don't see the economy or cargo volume dropping off a cliff after that, and even though holiday sales were softer than we would have liked, I don't see a dire situation," Seroka said, referring to lackluster US December retail sales that signaled potential weakness in consumer spending that drives about 70% of the nation's total economic activity.

Senior executives from major British banks are set to hold their first meeting on Thursday to advance plans for a national alternative to US-owned payment networks Visa and Mastercard, amid concerns about the United Kingdom's reliance on foreign systems.

The meeting will be chaired by Vim Maru, chief executive of Barclays' UK operations, and will bring together a group of City institutions tasked with financing a new payments company, currently known as DeliveryCo. The initiative aims to ensure the UK economy can continue functioning in the event of disruption to existing card networks, says the Guardian.

Visa and Mastercard currently facilitate around 95% of UK card transactions. One executive involved in the discussions said that if the services were disabled, the UK would be "sent back to the 1950s" when businesses relied entirely on cash.

The project has been under discussion for several years and is backed by the government, although it is being funded by private-sector institutions. Participants in the funding group include Lloyds Banking Group, NatWest, Santander UK, Nationwide and the ATM network Link. Visa and Mastercard are also part of the group.

The initiative has gained urgency against a backdrop of geopolitical tensions. Some executives have expressed concern that US-owned networks could be disrupted during periods of political strain. European officials have voiced similar worries in recent years, with some calling for a "European Airbus for payment systems" to reduce dependence on foreign providers.

The potential vulnerability of national payment systems has been highlighted in the past. In Russia, US sanctions led Visa and Mastercard to suspend certain services, limiting access to funds for some users.

UK officials have framed the proposed system as a resilience measure rather than a replacement for existing providers. They describe it as providing "extra resilience" and serving as an "additional payment rail" within the financial landscape.

The Bank of England is developing infrastructure blueprints for the proposed system, which are expected to be handed to the funders next year. The new payments system is projected to be operational by 2030.

Visa and Mastercard have said they remain committed to the UK market and welcome competition that fosters innovation and choice.

Gold dropped more than 2 percent on Tuesday, as holidays in major markets hit liquidity, while a stronger dollar and easing geopolitical tensions added to the pressure.

Spot gold dropped 1.5 percent to $4,917.90 per ounce by 0800 GMT after hitting $4,862 per ounce, its lowest level in more than a week. US gold futures for April delivery lost 2.2 percent to $4,936.60 per ounce.

“Thin liquidity with the holidays in the last 24 hours, especially in China and Asia, but also obviously in the United States too, means we just lacked a bid in the market,” said Kyle Rodda, senior market analyst at Capital.com.

Mainland Chinese, Hong Kong, Singapore, Taiwan and South Korea markets are closed for the Lunar New Year holidays. US markets were shut on Monday for Presidents’ Day.

The US dollar index rose 0.3 percent against a basket of currencies, making greenback-priced bullion more expensive for holders of other currencies.

The minutes of the Federal Reserve’s January meeting, due Wednesday, could give investors further clues about the central bank’s future monetary policy path. The market currently expects the first of three interest rate cuts for the year to be in June, according to CME’s FedWatch Tool.

“Now it’s going to be interesting to see what these FOMC minutes say in the sense that the markets want many more rate cuts now than what the Fed said that it would do,” said Ilya Spivak, head of global macro at Tastylive.

Non-yielding bullion tends to do well in low-interest-rate environments.

On the geopolitical front, US President Donald Trump said Monday he would be “indirectly” involved in US–Iran nuclear talks in Geneva on Tuesday, while Ukrainian and Russian representatives will also meet there this week for US-mediated peace discussions.

“The immediate range top (for gold) is somewhere around $5,120, but the next real kind of objective here is back to the highs at $5,600 or so, and then of course, we march to record highs,” Spivak said.

Bangladesh Bank (BB) has clarified that no final decision has been taken regarding the issuance of digital bank licences, amid reports published in several national dailies.

As part of the government's initiative to expand technology-driven inclusive financial services and build a "Cashless Bangladesh," Bangladesh Bank issued a public notice on August 26, 2025, inviting applications for establishment of digital banks. Applications received within the stipulated timeframe are currently being evaluated in accordance with relevant policies and prescribed procedures.

The evaluation process is being conducted in phases by three separate committees: the Technical Evaluation Committee (TEC), the Business Evaluation Committee (BEC) and the Financial Evaluation Committee (FEC).

At the 447th meeting of the Board of Directors held on February 16, 2026, progress reports on the ongoing evaluation process were presented to the Board alongside other agenda items, it said.

According to the central bank, discussions at the meeting were limited strictly to procedural aspects, including the evaluation process and criteria. No decision regarding the granting of digital bank licenses was taken at the meeting.

However, on the same day, a small group of bank officials reportedly organized a press conference on the digital bank licensing issue without prior authorisation from the appropriate authority. Despite the absence of any decision-making agenda on the matter, several national newspapers published reports without adequately verifying the information, leading to what the central bank described as misleading coverage.

Bangladesh Bank expressed concern that such reports could create confusion and misperceptions among the public. The central bank urged media outlets to verify information with the appropriate authorities before publication and to avoid one-sided reporting on controversial matters. It also called on the media to uphold responsible journalism by presenting the views of all relevant parties in the public interest.

The Bangladesh Securities and Exchange Commission (BSEC) has decided to extend the lock-in period for shares held by sponsors, directors, and placement shareholders of Asiatic Laboratories Limited due to unauthorized business diversions and failure to utilize IPO funds according to the original plan.

The decision was made during the 999th Commission meeting held today, presided over by BSEC Chairman Khondoker Rashed Maqsood.

According to a BSEC press release, Asiatic Laboratories was previously permitted to raise TK 95 crore through an Initial Public Offering (IPO) on August 31, 2022, for business expansion, factory construction, and loan repayment.

However, the company has failed to utilize the IPO funds as per the prospectus.

An inspection by the Dhaka Stock Exchange (DSE) revealed that on September 28, 2025, the company announced Price Sensitive Information (PSI) regarding the construction of a 32-story luxury building without conducting any project evaluation, feasibility tests, or obtaining necessary regulatory approvals from RAJUK and environmental authorities.

Furthermore, entering the real estate or hotel business is inconsistent with the company’s Memorandum of Association (MoA).

In the interest of general investors and the capital market, the Commission has decided to extend the lock-in period for shares held by 183 sponsors, directors, and placement shareholders mentioned in the prospectus.

The lock-in will remain in effect for an additional three years or until the completion of the proposed building and the acquisition of a RAJUK occupancy certificate, whichever is later.

In the same meeting, the BSEC also approved the draft “Bangladesh Securities and Exchange Commission (Capital Market Information Disclosure and Whistleblower Protection) Rules, 2026”. The draft will be published in national dailies and on the Commission’s official website to solicit public opinion.

Two listed general insurers, Crystal Insurance Company Limited and Sena Insurance PLC, have declared cash dividends for the year ended 31 December 2025, alongside mixed investor reactions despite stronger earnings.

Crystal Insurance's board of directors has recommended a 12% cash dividend, after reporting higher profitability.

The company reported earnings per share (EPS) of Tk3.34, net asset value (NAV) per share of Tk27.65 and net operating cash flow per share (NOCFPS) of Tk1.74 for the year ended 31 December 2025.

In comparison, it posted EPS of Tk3.13, NAV per share of Tk25.67 and NOCFPS of Tk2.20 for 2024.

Its annual general meeting is scheduled for 30 March at 11:00am via a digital platform, with 9 March fixed as the record date.

Following the dividend declaration at the Dhaka Stock Exchange (DSE), Crystal Insurance's share price fell 4.58% today (17 February) to close at Tk81.20, reflecting investor reaction despite improved earnings performance.

Meanwhile, Sena Insurance has recommended a 15% cash dividend for 2025. The insurer reported EPS of Tk5.17, NAV per share of Tk28.58 and NOCFPS of Tk5.00 for the year, compared to EPS of Tk4.29, NAV per share of Tk25.16 and NOCFPS of Tk7.23 in the previous year.

The company will hold its AGM on 31 March at 11:30am under a hybrid system, allowing both physical presence and participation through a digital platform. The record date has also been set for 9 March.

In a separate disclosure, Sena Insurance said its board has decided to purchase 11.31 decimals of land in Narayanganj' Rupganj upazila for Tk1.28 crore, excluding registration and other fees, subject to approval from the Insurance Development and Regulatory Authority (Idra).

After the announcements, Sena Insurance's share price declined 3.13% to Tk58.90.

The pre-IPO shares held by the sponsors, directors and placement shareholders of Asiatic Laboratories will remain under lock-in until three years beyond the existing lock-in expiry date or until the completion and commercial operation of its proposed 32-storey building — whichever occurs later.

The decision was taken by the Bangladesh Securities and Exchange Commission (BSEC) today (17 February), according to a press release. The extended lock-in will apply to shares held by 183 individuals and institutions mentioned in the company's prospectus.

The regulator said the decision was made considering recommendations from an inspection report of the Dhaka Stock Exchange, prevailing market conditions and the interest of general investors.

Asiatic Laboratories received approval from the commission at its 837th meeting on 31 August 2022 to raise Tk95 crore through an initial public offering (IPO). According to its prospectus, the company planned to use the IPO proceeds for business expansion, including purchase and installation of machinery, construction of a factory building, repayment of bank loans and covering issue management expenses.

However, the company has yet to complete the utilisation of the IPO funds.

Without completing the utilisation process and without conducting project evaluation, feasibility studies or securing necessary regulatory approvals — including building plan approval from RAJUK and environmental clearance — the company disclosed price-sensitive information on 28 September 2025, announcing an ambitious plan to construct a 32-storey building.

The BSEC also noted that entering into the real estate or hotel business through the construction of such a building is not consistent with the company's Memorandum of Association. An inspection conducted by the DSE identified these inconsistencies.

Premier Cement Mills PLC has received regulatory approval to raise Tk161 crore through the issuance of preference shares, as the company moves to restructure its balance sheet and reduce rising finance costs.

The Bangladesh Securities and Exchange Commission (BSEC), in a letter dated 16 February, approved the cement maker's plan to issue 322 fully redeemable, non-convertible, non-participating and cumulative preference shares of Tk50 lakh each at par, totalling Tk161 crore, under the Securities and Exchange Commission (Issue of Capital) Rules, 2001.

According to the company, the proceeds from the preference shares will be used to restructure its existing balance sheet and repay high-cost short-term liabilities, in line with a decision taken by its board of directors and later endorsed by shareholders at an extraordinary general meeting.

Following the disclosure filed with the Dhaka Stock Exchange today (17 February), Premier Cement's share price remained unchanged at Tk39.30.

Preference shares are a class of stock that entitles holders to receive dividends ahead of ordinary shareholders. In the event of liquidation, preference shareholders also have priority over common shareholders in claims on company assets.

The approval comes after an earlier setback. In June 2025, the BSEC rejected Premier Cement's initial application to issue the preference shares, citing the absence of required provisions in the company's Memorandum of Association.

The company later amended the memorandum and submitted a fresh application in October 2025.

In a letter issued on 5 October, the commission asked the bourse to provide its opinion on the proposed issuance within 15 working days. The DSE later gave its consent, paving the way for the commission's final approval.

Explaining the move, the company said rising bank lending rates had significantly increased its financing burden.

"The interest rate on bank loans has increased significantly. That is why the company is going to issue preference shares," it said in a statement, adding that lending rates from local banks have exceeded 14%.

Repaying part of its existing loans would help cut interest expenses, it added.

Financial disclosures show Premier Cement's performance weakened in the first half of FY26. Revenue for the July-December period slipped to Tk1,059 crore, while net profit fell 49% year-on-year to Tk1.97 crore.

The company attributed the sharp decline mainly to higher finance costs.

As of December 2025, Premier Cement reported Tk679 crore in long-term loans and Tk1,693 crore in short-term borrowings, alongside Tk24 crore owed to directors.

Finance costs rose to Tk122 crore during the period, up from Tk89 crore a year earlier, largely due to elevated interest rates.

The fresh capital injection is expected to ease liquidity pressure and strengthen the company's financial structure amid a challenging operating environment.

Stocks extended their losing streak for a second straight session today (17 February), with key indices edging lower as investors adopted a cautious stance following the swearing-in of the new government.

The benchmark DSEX of the Dhaka Stock Exchange (DSE) fell 18 points to settle at 5,570. The blue-chip DS30 index also declined by 9 points to close at 2,126. Market breadth remained negative, as 238 issues declined against 131 advances, while 27 remained unchanged.

Turnover at the premier bourse slightly decreased to Tk1,222 crore compared to the previous session, indicating subdued participation.

Market insiders said investors remained watchful of the evolving political landscape after the new government took oath today, prompting many to lock in recent gains rather than take fresh positions.

Analysts expect investors to remain cautious in the near term as they assess policy signals from the new administration.

In its daily market review, EBL Securities Limited noted that profit-booking sentiment gripped the market for the second consecutive session, with investors choosing to realise gains from the recent election-driven rally and remain cautious amid the evolving political situation.

The market experienced see-saw trading throughout the session, reflecting a tug-of-war between buyers and sellers. Opportunistic investors continued to accumulate momentum-driven stocks, taking advantage of the prevailing risk-averse sentiment. However, late-session profit-taking, particularly in major large-cap scrips, ultimately dragged the indices into negative territory.

Among the most traded stocks were Square Pharma, ACI, City Bank, Dhaka Bank and BRAC Bank, reflecting active participation in heavyweight and banking sector counters.

On the gaining side, Shurwid Industries rose 9.83%, followed by AB Bank, BIFC, BD Welding and Tung Hai Knitting.

Meanwhile, Bay Leasing topped the losers' chart with a 9.25% decline, followed by Phoenix Finance, Midas Finance, Hamid Fabrics and AB Bank First Mutual Fund.

Power Grid Company of Bangladesh (PGCB), a state-owned power transmission company, is set to convert Tk1,324 crore in share money deposits received from the government for its development projects into preference shares.

In a letter dated today (17 February), the Bangladesh Securities and Exchange Commission (BSEC), the capital market regulator, approved the issuance of the shares in favour of the secretary of the Power Division under the Ministry of Power, Energy and Mineral Resources.

Under the government financing structure, 60% is treated as equity and the remainder as loans, with the equity portion recorded as deposits for shares. At the end of June 2025, PGCB's outstanding share money deposits stood at Tk2,954.81 crore.

Power Grid has already issued 20.10 crore general shares and 1,014.65 crore irredeemable and non-cumulative preference shares at Tk10 each in favour of the secretary of the Power Division.

According to company sources, Tk1,324 crore was received from the government in the 2023–24 fiscal year, and the company is now proceeding with the share issuance to comply with a notification issued by the Financial Reporting Council (FRC).

Preference shares are company shares where dividends are paid to shareholders before dividends are distributed to common stockholders. The government will receive dividends on the preference shares at a fixed rate before any dividend is declared or distributed to general shareholders.

The dividend rate for the government on the preference shares will be determined as a percentage of total capital, calculated as 25% of the assumed share of net profit after tax attributable to the preference shareholders.

Explaining the dividend mechanism to The Business Standard, Power Grid Company Secretary Md Jahangir Azad said, "Suppose preference shares account for 25% of the company's paid-up capital. If the company makes a profit of Tk100 in a financial year, the entitlement of the preference shares would be Tk25 from that profit. The government would then receive a 25% dividend on this Tk25 allocated to the preference shares."

Regarding the issuance of preference shares, he added, "We are instructed to convert share money deposits into shares within six months after the end of the fiscal year. That is why we are gradually converting share money deposits into preference shares."

In the first half of the current fiscal year, Power Grid's revenue grew by 9% to Tk1,671 crore, and profit soared 236% to Tk476 crore.

Its shares closed at Tk33.70 each yesterday, down 2.03% from the previous trading session.

Amir Khasru Mahmud Chowdhury, who is set to take charge as the finance and planning minister of the BNP-led new government, has set boosting investment and employment as his top priority, saying the government will focus on simplifying the business climate and lowering the cost of doing business to stimulate economic activity.

In a short interview with The Business Standard shortly after taking oath in the government led by Tarique Rahman, Khasru said effective measures would be taken to curb corruption and extortion, which he identified as barriers to growth.

He said deregulation would be introduced to ease bureaucratic complexity and reduce business costs.

High bank lending rates and elevated gas and electricity charges are discouraging private-sector investment and limiting job creation, he added.

"Lowering lending rates to a tolerable level, removing bureaucratic hurdles and improving ease of doing business will be central policy priorities," the minister said.

Amir Khasru described the broader economic landscape as challenging, citing Bangladesh's declining tax-to-GDP ratio, weaknesses in the banking and financial sectors, and a struggling capital market.

"Although inflation has eased slightly, it remains high, while private-sector credit growth has slowed sharply, investment and job creation remain weak, capital machinery imports have fallen, and poverty is rising.

"To overcome this situation, we will have to take major and difficult decisions," he said, adding that stricter reforms will be needed compared with previous administrations.

Reducing the cost of doing business to encourage investment and employment will be pursued at any cost, alongside efforts to raise the tax-to-GDP ratio through economic expansion, he said.

The minister added that as the finance minister, he will undertake a comprehensive review of the economy to determine its current condition, after which the government will outline a roadmap defining its economic direction.

Iqbal Hasan Mahmud Tuku, set to become the minister for Power, Energy and Mineral Resources, expressed confidence in addressing Bangladesh's long-standing energy challenges, drawing on his previous experience leading the ministry.

Speaking shortly after taking the oath, the Sirajganj-2 MP acknowledged the sector's complexity. "There are lots of problems in our power and energy sector. It is a technical matter. I need lots of brainstorming to identify the problems," he said. Emphasising careful preparation, Iqbal Hasan added, "It is very difficult to solve, but we will do homework to address the issues. Since I ran the ministry before, I am confident to streamline the problems."

Looking ahead, he expressed hope for actionable plans. "Hopefully, I will be able to create some packages of work to solve the problems," he said. On the National Review Committee's recommendation to cancel the Adani Group power purchase agreement, Iqbal Hasan remained measured: "I need to do homework. We need to do lots of brainstorming." The committee had highlighted serious anomalies and warned that the deal could be financially burdensome for Bangladesh.

Iqbal Hasan is scheduled to brief journalists at the secretariat soon, where he is expected to outline the current state of the sector and his approach to tackling persistent issues, including rising outstanding bills and an energy shortfall affecting economic growth.

Earlier, at a 3 February seminar, Iqbal Hasan highlighted the challenge of balancing production costs with affordable consumer prices. "Balancing production costs with affordable prices for consumers requires deep thought and a long time, which is not possible in a five-year tenure," he said.

He recalled a previous framework where 65% of power generation remained under government control, with the rest developed through public-private partnerships. "This policy allowed the state to maintain leverage over prices," he noted.

Criticising deviations from this approach, Iqbal Hasan said one-on-one deals bypassing public procurement rules had fueled corruption and rent-seeking. "For years, development was treated as an end in itself. Now ordinary people are paying the hidden costs through higher electricity bills and mounting public debt," he added.

Our business community is facing mountain-sized challenges right now. In this situation, the first priority must be improving the law and order situation – especially curbing extortion.

Those appointed to the ministries will need to be held accountable for what they plan to do in the first 90 days and what they will do afterwards. We don't want to see five years pass with everyone just sitting idle.

The selections made for the cabinet seem appropriate. Now, the real test is how much they can deliver. The government will have to take many policies, and it will be important to see how supportive the officials and opposition parties are in implementing them.

There are immense challenges in the economy. Investor confidence, especially in terms of investment, is almost nonexistent. But we are also seeing potential. Amid this, the government will need to manage challenges, including opposition movements. Whenever a situation arises, officials will try to seize the opportunity.

Bangladesh's total foreign exchange reserves have risen to $29.86 billion, Bangladesh Bank (BB) Spokesperson and Executive Director Arif Hossain Khan said this evening (17 February).

The central bank has been increasing reserves mainly by purchasing US dollars from commercial banks through auctions.

The rise in remittance inflows through formal banking channels has contributed significantly to this growth.

In the first month of 2026, Bangladesh received $3.17 billion in remittances, the third-highest monthly inflow on record. This marks a 45.41% increase compared to the same month in 2025.

In January of the previous year, remittance inflows stood at $2.18 billion.

A senior Bangladesh Bank official told The Business Standard that the supply of dollars in banks has increased due to higher remittance inflows.

To prevent the dollar rate from falling, the central bank has been purchasing dollars through auctions, he added.

The official further said that by buying dollars from commercial banks, Bangladesh Bank is simultaneously boosting reserves while maintaining stability in the exchange rate.