Bangladesh Bank has made prior approval from the chief inspector of Boilers mandatory for the import of boilers and boiler components, in line with a directive from the Ministry of Industries.

The central bank's Foreign Exchange Policy Department issued a notification yesterday (14 July), instructing authorised dealer (AD) branches of all banks engaged in foreign exchange transactions to comply with the new requirement.

The notification said the fresh directive follows a memo issued by the Boiler Wing of the Ministry of Industries on 28 June, 2026, and has been made effective for all boiler and boiler component imports accordingly.

According to the notification, boiler manufacturers must complete construction within a maximum of 12 months from the date of drawing and design approval.

Manufacturers must also hand over all documents and certificates required for registration to the buying entity after supply or sale of a boiler, and must inform the chief inspector of Boilers in writing of the buyer's name and address.

The directive further requires that occupational health and safety of factory workers be ensured, with all relevant provisions of existing labour law to be followed.

Under the new instructions, prior approval from the chief inspector of Boilers must be obtained through a prescribed application form before any import of boilers or boiler components.

On receipt of an application, a designated officer will verify the necessary documents and submit a report to the Chief Inspector, who will grant or reject the import approval after reviewing the report.

If approved, the deputy chief inspector of Boilers will issue the approval letter.

If an application is rejected, the applicant must be informed in writing of the reasons within seven working days, after which they may reapply upon rectifying the deficiencies and paying the requisite fee.

The notification added that the concerned authority may also inspect a manufacturer's factory or production process, if required, to ensure the quality of boilers.

A high-level Saudi delegation today (15 July) met Prime Minister Tarique Rahman and expressed interest in investing up to $1 billion in Bangladesh's ports, railways and other key infrastructure projects.

The meeting took place at the Prime Minister's Office in the Jatiya Sangsad Bhaban, said a press release issued by the PM's Press Wing.

The delegation was led by Saudi Arabia's Vice Minister for Transport and Logistic Services Dr Rumaih Mohammed Al-Rumaih.

During the meeting, the two sides discussed Bangladesh-Saudi Arabia bilateral relations, investment opportunities and ways to expand cooperation in infrastructure development.

Members of the delegation also expressed their commitment to further strengthening ties between the two countries.

The prime minister said Bangladesh's long-standing friendly relations with Saudi Arabia are of great importance to his government.

The delegation informed Tarique Rahman that Red Sea Gateway Terminal International is interested in investing $180 million to develop a Bay Terminal in Bangladesh and increasing its overall investment in the country's port sector to $1 billion.

They also said Red Sea Gateway Terminal International and several other Saudi companies are keen to invest in various sectors in Bangladesh.

The prime minister briefed the delegation on his government's investment-friendly policies and initiatives aimed at attracting greater foreign investment.

The delegation said it explored investment opportunities in Bangladesh's ports, railways and several other sectors, adding that detailed discussions could be held at a future joint meeting between the two countries.

The Prime Minister thanked the Saudi delegation for visiting Bangladesh and for showing strong interest in investing in the country.

In response, the delegation said they are looking forward to welcoming Prime Minister Tarique Rahman to Saudi Arabia.

Road Transport and Bridges, and Railways Minister Shaikh Rabiul Alam, Prime Minister's Adviser on Foreign Affairs Humaiun Kobir and Bangladesh Investment Development Authority (BIDA) Executive Chairman Ashik Chowdhury were present at the meeting.

The Saudi delegation also included Assistant Deputy Minister for Investment Engineer Ammar Al-Taff, Red Sea Gateway Terminal International Board CEO Amer Reda, Red Sea Gateway Terminal CEO Lars Vang, Saudi Ambassador to Bangladesh Dr Abdullah Zafer H bin Abiyah and other senior officials.

India approved a new semiconductor programme on Wednesday, offering more than $13 billion in financial assistance to accelerate local chip production, as it seeks to become a global electronics powerhouse.

India’s Union Cabinet approved the “Semicon 2.0” initiative, expanding on a drive launched five years ago to reduce reliance on imports and attract investment in one of the world’s most strategically important industries.
It comes as countries race to secure semiconductor supply chains following pandemic-era disruptions and growing geopolitical tensions that exposed vulnerabilities in global chip production.The programme will focus on strengthening the local semiconductor ecosystem, encouraging domestic production of key materials and attracting global manufacturers to establish fabrication plants in India.

The plan recognised the need for “sustained and long-term support” to the industry and aimed to place India “on the semiconductor map of the world”, the cabinet said in a statement, without providing more details on how the money will be used. An earlier semiconductor incentive scheme “Semicon 1.0”, which was unveiled in 2021, offered support covering up to half the cost of setting up chip projects.

The incentives helped launch 12 manufacturing projects across fabrication, packaging and related segments, with at least three already entering commercial production. Among them is a semiconductor assembly and test facility established by US memory giant Micron Technology.

India’s chip market has grown from about $38 billion in 2023 to an estimated $45 billion-$50 billion in 2024-25.

The government is targeting a market size of $100 billion-$110 billion by 2030.

Bangladesh Bank eased regulations on external borrowing by fully foreign-owned industrial enterprises, allowing them to access loans from parent companies, associates, and shareholders abroad under a general authorisation framework.

According to a circular issued yesterday, eligible manufacturing and service-sector enterprises operating both within and outside specialised zones, including export processing zones (EPZs), economic zones (EZs), and High-Tech Parks, will be able to obtain short-, medium- and long-term foreign loans subject to specified conditions.

For short-term borrowings of less than one year, companies outside specialised zones may obtain interest-free loans for working capital purposes without prior approval from Bangladesh Bank.

They may also avail cost-bearing loans at a total cost of up to 3 percent “per annum” for “bona fide” business purposes, including input procurement.

Such loans must be repaid in a single lump sum at maturity and may be extended, up to a maximum term of three years.

For medium-term borrowings of one to five years, Bangladesh Bank allowed interest-free loans of up to $50 million and cost-bearing loans of up to $5 million for capital expenditure, including the purchase of machinery and equipment, as well as construction-related expenditure.

Long-term borrowings of more than five years will also be allowed, with borrowing costs capped at 3 percent “per annum” where applicable.

The circular also allows outstanding borrowings to be converted into equity subject to existing regulations.

As per industry insiders, the new measures are expected to improve access to affordable overseas financing and encourage greater foreign investment in Bangladesh.

The Bangladesh Securities and Exchange Commission (BSEC) has approved draft amendments to the Margin Rules, 2025, relaxing several restrictive provisions introduced last November to improve market liquidity and make margin lending more accessible.The proposed amendments, approved today (14 July), will be published in newspapers and on the commission's website for public opinion before being finalised.The existing rules, introduced under the previous commission led by Khondoker Rashed Maqsood by replacing the Margin Rules, 1999, drew strong criticism from brokers, lenders and investors.
Since taking office in June, the new commission led by Chairman Masud Khan has pledged to make the framework more market-friendly. BSEC spokesperson Abul Kalam said implementation of the rules exposed practical difficulties, prompting the proposed revisions.

In an interview with The Business Standard, Masud Khan said the current framework is overly restrictive and prevents excess liquidity in the banking sector from flowing into the capital market.

"BSEC will set broad risk parameters. Beyond that, brokers will have the flexibility to develop their own risk management frameworks and determine whom to lend to," he said.

Margin loans opened to all investors

The commission will remove restrictions on extending margin loans to students, homemakers and retired persons.

Under the current rules, only high-net-worth individuals within some of these groups could qualify under lenders' internal policies – a provision strongly opposed by market participants and challenged in court.

The amendment will allow lenders to provide margin financing to all investors based on their relationship with clients and internal risk assessment.

More stocks eligible for margin financing

The amendment will make all 'A' and 'B' category stocks eligible for margin loans by scrapping the existing requirement that 'B' category companies must pay at least a 5% dividend.

Securities listed on the SME, ATB and OTC platforms will remain ineligible.

Tk5 lakh investment requirement dropped

The regulator will abolish the requirement for investors to maintain an average investment of Tk5 lakh in listed shares over the previous year to qualify for margin loans. Instead, investors must maintain a minimum equity of Tk3 lakh.

"The one-year Tk5 lakh investment requirement will be withdrawn, but a Tk3 lakh minimum equity requirement has been added for prudent risk management. If someone invests Tk10,000 today and seeks a margin loan tomorrow, that would not be logical," Abul Kalam said.

Margin call threshold lowered

Under the current rules, lenders must issue a margin call when a portfolio's value falls below 75% and execute a forced sale when it drops below 50%.

The amendment lowers the margin call threshold to 70%, while the forced-sale threshold remains unchanged.

P/E restrictions relaxed

The proposed amendments retain the restriction on margin lending for stocks with a price-to-earnings (P/E) ratio above 30 but change how the ratio is calculated. Instead of using the cumulative earnings per share of the latest four quarters, the P/E ratio will now be based on annual audited financial statements.

The commission will also remove the rule linking margin financing to the market's overall P/E ratio. Currently, if the main board's market P/E exceeds 20, lenders cannot provide financing above a 1:0.5 equity-to-loan ratio.

Under the amendment, lenders will be able to extend financing of up to a 1:1 ratio based on mutual agreement with clients, regardless of the market P/E.

Higher lending limit for financiers

The commission also plans to raise the ceiling on margin lending by financiers from three times their core capital or net worth to five times their net worth, allowing brokers to extend significantly larger margin portfolios.

Bangladesh stands at a defining moment in its economic journey. Having grown into a $510 billion economy, the country now aims to become a $1 trillion economy by 2034. The national budget theme, Economic Democratisation and Decentralisation: Bangladesh in the Trillion-Dollar Economic March, reflects both the scale of that ambition and the need to ensure growth creates opportunities across the country. Achieving this vision will depend on three closely linked priorities: attracting more foreign direct investment (FDI), accelerating digital transformation and deepening financial inclusion.

Bangladesh’s remarkable progress has been built on manufacturing, exports, infrastructure and the resilience of its people. The next phase of growth will increasingly be driven by digital infrastructure, AI, cloud technologies and innovation. Around the world, countries that have reached higher-income status have paired physical infrastructure with strong digital ecosystems. Today, digital connectivity is as important as roads, ports and power in driving competitiveness.

FDI plays a vital role in this transformation. Beyond capital, it brings technology, innovation, international expertise and access to global markets. These are essential for raising productivity, creating skilled jobs and supporting sustainable growth. Bangladesh’s recent investment performance offers encouraging signs. After slowing between 2022 and 2024 amid global uncertainty and foreign exchange pressures, net FDI rebounded by 39.36 percent in 2025 to $1.77 billion. The next challenge is attracting higher-value investment into sectors that will shape the future economy, including AI, cloud computing and digital services. One promising example is the proposed “Invest in Bangladesh NOW” initiative discussed between Banglalink’s parent company, VEON, and the prime minister. The initiative aims to attract $1 billion in FDI, anchored by VEON’s initial $250 million commitment. It would focus on digital banking, AI, youth skills and connectivity while using VEON’s global network to attract further investment.

Investment also brings valuable expertise. Around the world, digital financial services have transformed financial inclusion. In Kenya, M-Pesa has enabled millions to access payments, savings and credit. In India, the Unified Payments Interface has made secure, low-cost digital payments widely accessible. In Pakistan, JazzCash has expanded access to financial services and supported the shift towards a less cash-based economy. Bangladesh can build on these examples by expanding digital banking, microfinance and microinsurance. Economic democratisation also means ensuring digital opportunities reach every part of Bangladesh. A young entrepreneur in Kurigram, a farmer in Bhola or a student in Bandarban should have the same opportunities as someone in Dhaka. Expanding digital infrastructure, including next-generation technologies such as satellite-enabled direct-to-cell connectivity, can help bridge the digital divide.

Banglalink’s experience over the past two decades shows how sustained investment in connectivity can narrow that divide. As part of the VEON Group, the company continues to expand digital access while introducing services that support education, healthcare, commerce, public services, entertainment and AI-enabled solutions. Drawing on VEON’s fintech expertise, Banglalink also aims to expand digital banking, microfinance and microinsurance, helping more Bangladeshis participate in the formal economy. Together, digital connectivity and financial inclusion can boost productivity and support inclusive growth.

Bangladesh’s greatest competitive advantage remains its people. With a workforce of more than 77 million, the country has the potential to become a leading digital economy. Realising that potential will require continued investment in digital skills, AI and innovation, backed by predictable policies, transparent regulation and close collaboration between government and the private sector. Bangladesh has consistently shown its ability to exceed expectations. Reaching a trillion-dollar economy will require greater investment, world-class digital infrastructure, deeper financial inclusion, skilled workers and strong public-private partnerships. If these priorities advance together, Bangladesh can strengthen its global competitiveness while creating broader prosperity and a better quality of life for all.

The telecom regulator has upheld a Tk 3 crore administrative fine on Summit Communications Ltd, the country’s largest telecom infrastructure operator, after concluding it engaged in discriminatory bandwidth pricing.

At a recent meeting, the Bangladesh Telecommunication Regulatory Commission (BTRC) has decided to issue a formal notice instructing Summit to deposit the penalty with the regulator’s Finance, Accounts and Revenue Division within 10 working days.

The decisions were taken after reviewing a hearing report, following Summit’s challenge to the fine originally imposed last year, according to minutes of the meeting.

An investigation found that Summit charged its own International Internet Gateway (IIG) business an average of Tk 8 per Mbps for bandwidth, while charging other IIG operators an average of Tk 196.65 per Mbps, a gap officials described as “clearly discriminatory”.

The commission’s decision follows months of regulatory proceedings after inspections at Summit’s Dhaka headquarters and its Terrestrial Cable Landing Station (TCLS) in Benapole, Jashore.

As an International Terrestrial Cable (ITC) operator, Summit imports internet bandwidth from India and sells it to its affiliated IIG at prices significantly lower than competitors. As BTRC collects revenue sharing based on operators’ earnings, a lower transfer price reduces the government’s revenue.

Bangladesh’s international bandwidth flows from submarine cables or ITCs to IIGs, then through Nationwide Telecommunication Transmission Network (NTTN) operators to mobile operators and ISPs before reaching consumers. BTRC collects revenue sharing at multiple stages of this value chain.

Based on its inspection findings, the commission imposed the Tk 3 crore fine in early May last year. Summit, in response, sought a waiver and requested meetings with the regulator, prompting a series of review proceedings.

The commission first appointed a deputy director to review the appeal. After examining the case, the officer recommended upholding the penalty. Summit appealed again without paying, after which the commission appointed Commissioner (Engineering and Operations) Brig Gen (Retd) Iqbal Ahmed to conduct a fresh hearing involving both the inspection team and the company.

According to the commission’s meeting documents, the hearing officer found that Summit acknowledged the government was entitled to revenue sharing from bandwidth its ITC business supplied to its own IIG operation.

The company claimed it had been sharing such revenue based on verbal instructions from BTRC, but it could not produce any written directive or regulatory decision supporting the claim.

The hearing officer rejected Summit’s argument that no approved tariff existed for ITC operators at the time, finding the pricing violated Sections 29(Ga) and 50(1) of the Bangladesh Telecommunication Regulation Act, 2001, as well as relevant provisions of the Competition Act, 2012.

The report also noted that ITC licensing guidelines do not permit operators to provide services without commission-approved tariffs.

The report further found that although Summit operates both its ITC and IIG businesses under the same Tax Identification Number and Business Identification Number, it was still required to maintain separate revenue accounts, since the two licences carry different revenue-sharing obligations.

The hearing officer found no violations of the Infrastructure Sharing Guidelines during the inspection.

In his recommendations, Brig Gen (Retd) Iqbal endorsed the findings that Summit had breached telecommunications law, but noted the company had apologised for the violations and suggested the penalty could be reconsidered. After reviewing the report, however, the commission decided to reinstate the fine in full.

The commissioner confirmed to The Daily Star that the commission had decided to uphold the fine.

Summit Communications told this newspaper that as of yesterday, it has not yet received any official communication from BTRC regarding the reinstatement of the fine.

The company said it had clearly stated its grounds during the BTRC hearing -- that the penalty does not correctly reflect the applicable laws or factual circumstances.

“If BTRC nevertheless decides to uphold the penalty, we will pursue legal recourse available to us under the Bangladesh Telecommunication Act, 2001 and/or any applicable laws,” it said.

Noting that its ITC and IIG licences are held by the same legal entity, Summit argued that the provisioning of bandwidth between the two businesses is an internal allocation, not a commercial sale between independent entities.

“Till date BTRC has never approved any tariff or pricing methodology for bandwidth sale or allocation from ITC to IIG. In the absence of such regulatory guidance, Summit adopted the prevailing industry practice following the discussion and decision taken at the BTRC meeting held on 5 May 2021,” the company said.

The company also stated that it had reported the relevant information through the DIS Portal and paid applicable revenue sharing throughout.

“Summit acted on full transparency and after due consultation with BTRC,” it said, adding that when BTRC later took the position that such internal allocation should be based on market rate, the company complied immediately “to demonstrate our continued commitment to regulatory compliance.”

“In the absence of any BTRC approved tariff or prescribed pricing methodology for ITC to IIG bandwidth provisioning, we follow the prevailing industry practice,” it further said.

BTRC officials, speaking on condition of anonymity, said that although the ITC and IIG businesses are part of the same legal entity, they are required to hold separate licences for different services, each operating under a different regulatory framework.

“The so-called industry practice was improper. It has now been uncovered, and those involved have been penalised. No previous commissions had dared to investigate these practices before the fall of the previous government,” one official said.

Iran and the US have both announced rival blockades of the Strait of Hormuz once again, crippling an already fragile ceasefire deal.

This should alarm oil traders who had been pricing in a rapid return to normal. But markets appear sanguine – and that may be a miscalculation.

The global oil and gas market proved remarkably resilient during the 108-day conflict, thanks in large part to the ample global reserves present before the war began on February 28.

But the energy market is no longer protected by ample emergency stocks, so the margin for error has become a lot smaller.

President Donald Trump said on Monday that the US was reinstating its blockade of Iranian shipping in the Strait of Hormuz.

This followed Iran’s declaration over the weekend that it was closing the waterway amid fresh missile and drone attacks between the two sides.

This leaves the June 17 interim ceasefire on shaky ground.

Trump also said Washington would become the “guardian of the Hormuz Strait”, ensuring the shipping chokepoint – through which a fifth of global oil and liquefied natural gas supplies previously transited – remained open to all other vessels.

In turn, the US would be reimbursed at a rate of 20 percent, Trump added.

Meanwhile, Yemen’s Iran-aligned Houthis on Monday threatened to disrupt ships transiting the Red Sea to the Suez Canal.

This potentially opens a new front in the regional war which could challenge cargoes seeking to bypass the strait.

The oil market response to all this has been surprisingly subdued.

Global benchmark Brent crude futures have risen over 10 percent to above $80 a barrel since the latest round of tit-for-tat attacks erupted last Tuesday.

That rise may be significant, but prices remain well below the wartime peak of $118 reached in late March.

Investors appear to be discounting the chances of a return to full-scale war and a complete shutdown of oil and gas flows through Hormuz.

That is a reasonable assumption – but it is still a risky one.

Neither side appears eager to return to war. Iran has been severely weakened by months of US and Israeli bombardment and stands to receive a substantial economic windfall from the interim agreement.

This is due to promised sanctions relief, unfrozen funds and potential investment. A renewed conflict would put all that at risk.

Trump, meanwhile, is unlikely to welcome a surge in domestic gasoline prices during the peak summer driving season, especially in the months before the crucial midterm elections in November.

Trump’s proposal to impose a fee on Hormuz transits also appears highly fanciful. For decades, the US has championed freedom of navigation.

Any attempt to impose mandatory tolls on vessels merely passing through an international strait would face formidable legal challenges.

The UN shipping agency said as much on Monday: “There is no legal basis through which to introduce mandatory tolls simply to transit through a strait.”

Does this mean Iran and the US will refrain from implementing their respective blockades? Probably not.

Both sides likely believe short-term blockades will do little damage to their respective positions.

Tehran is betting that Trump will ultimately accept some form of Iranian oversight of traffic through Hormuz.

They expect him to tolerate fees on passing vessels because of the US president’s political vulnerabilities.

Trump, for his part, appears to believe that pressure on Iranian exports will force Tehran to abandon its claims over the waterway.

What’s more, Trump may have been lulled into complacency by the energy market’s remarkable resilience during the war.

He may also rely on the rapid bounce back to prewar prices after the announcement of the June deal.

But prolonging this standoff – let alone returning to a new intensive phase of fighting – comes at a much higher risk than it did a few months ago.

That’s because the world’s oil safety cushion has been dramatically depleted.

During the 4.5-month conflict, governments, refiners and traders released record volumes of crude and fuel from emergency reserves.

This helped offset the loss of around 13 million barrels per day (bpd) of Middle Eastern exports.

Those releases helped prevent the kind of price shock many analysts feared at the start of the war, but they came at a cost.

According to the International Energy Agency, observed global oil inventories fell by a cumulative 360 million barrels between March and May, equivalent to around 3.9 million bpd.

Onshore stocks continued to decline in June, dropping by a further 96 million barrels, or roughly 3.2 million bpd.

The erosion has been particularly striking in the US.

Having exported record volumes of crude and refined products during the conflict, US inventories have been drawn down to lows not seen in decades.

Total crude and refined product stocks are at their slimmest since 2003, while gasoline inventories are at their lowest level for this time of year since 2012.

This leaves an exceptionally thin buffer against supply disruptions. That vulnerability has not gone unnoticed in Washington.

Earlier this month, Vice President JD Vance argued that the US-Iran agreement would provide the world with time to rebuild depleted oil reserves before any potential resumption of hostilities.

Based on current inventory levels, the world needs a lot more time.

For now, then, the oil market is probably right to assume that neither Trump nor Iran’s hardline clerics are actively seeking another full-scale conflict in the Middle East.

The most likely outcome remains a face-saving compromise that allows each government to claim victory. But that does not mean the danger has passed.

Both sides are engaged in high-stakes brinkmanship, which often produces miscalculations.

A missile strike, a naval incident or an attempt to enforce rival claims over the strait could trigger an escalation neither side intends.

And unlike in February, when inventories were full and emergency reserves abundant, the global oil market has far less capacity to absorb another major shock.

That may prove to be the most important lesson investors are missing today.

The benchmark index of the Dhaka Stock Exchange (DSE) climbed above the psychological 5,900-point mark on Tuesday (14 July), reaching a 23-month high as investors aggressively accumulated shares on expectations of regulatory reforms.

The DSEX gained 44 points, or 0.75%, to close at 5,911, its highest level in nearly two years. The blue-chip DS30 index also advanced 24 points to 2,227.

Trading activity strengthened significantly, with turnover rising 16% to Tk1,651 crore from the previous session.

According to EBL Securities' daily market review, the stock market extended its rally for a fourth straight session as investor sentiment remained upbeat over proposed revisions to margin loan rules and planned measures to improve market liquidity, including a shorter share settlement cycle and the introduction of scrip netting for intraday trading.

The market opened higher and maintained its upward momentum throughout the session. Strong participation and broad-based buying intensified in late trading, helping the benchmark reclaim the 5,900-point level for the first time in nearly two years.

Analysts said optimism over domestic policy initiatives outweighed concerns stemming from the renewed conflict in the Middle East.

The textile sector led trading, accounting for 14.1% of total turnover, followed by general insurance with 13.7% and engineering with 9.3%.

Among sectors, cement posted the highest gain, rising 3.5%, followed by tannery at 1.8% and jute at 1.7%. Life insurance, mutual funds and general insurance edged lower as investors booked profits.

Market breadth remained positive, with 199 stocks advancing, 137 declining, and 57 remaining unchanged.

Lovello Ice Cream was the most traded stock by value, followed by Bangladesh Shipping Corporation, Malek Spinning, LafargeHolcim Bangladesh and IPDC Finance.

Aman Feed topped the gainers with a 9.97% rise, followed by National Tea (9.96%), Northern Jute (9.94%) and Rahima Food (9.93%).

International Leasing was the day's biggest loser, falling 8.33%, followed by Meghna Insurance and Premier Leasing.

Market analysts said the DSEX could test the 6,000-point resistance level if the regulator implements the proposed margin rule changes and liquidity-enhancing measures over the next two weeks.

The Bangladesh Securities and Exchange Commission (BSEC) has approved Royal Footwear PLC's proposal to raise Tk12 crore through an Initial Qualified Investor Offer (IQIO) on the SME platform, marking the regulator's first approval for SME fundraising in more than two years.

The approval came at the commission's meeting held at the BSEC headquarters today (14 July).

The 100% export-oriented footwear manufacturer will issue shares under the fixed-price method and use the proceeds to expand its operations, strengthen its business, and meet growing export demand.

According to the approved utilisation plan, Tk8 crore will be used to repay bank loans, Tk2 crore to purchase raw and packing materials, Tk1.67 crore to procure spare parts, and the remaining Tk0.33 crore will cover expenses related to the IQIO.

Royal Footwear exports shoes to several international markets, including supplying products to the renowned US footwear retailer ROSS.

For the issue, Prime Bank Investment PLC has been appointed as the issue manager, while Prime Bank Investment PLC and EC Securities Limited will act as the underwriters.

The approval signals a gradual revival of fundraising through the SME capital market, where new public offerings had stalled for more than two years.

Royal Footwear had initially applied for the same fundraising plan in 2024 but later withdrew its IQIO proposal, citing political uncertainty, a slowing economy, and an unfavourable business environment for expansion.

With the business environment showing signs of improvement, the company has revived the plan to support capacity expansion and capitalise on growing export opportunities.

Royal Footwear shares some common directors with Al-Madina Pharmaceuticals PLC, an SME-listed company that raised Tk5 crore through the SME platform in February 2023. Al-Madina declared a 12% cash dividend for shareholders for FY25.

According to the company, incorporated in 2014, the decision to enter the capital market is aimed at expanding operations while strengthening corporate governance and compliance standards. Management said several international buyers have encouraged the company to become publicly listed, believing it would enhance governance, transparency, and compliance with global standards.

Royal Footwear primarily exports to European and Asian markets, where demand for its products has continued to grow. Management also views capital market financing as a more sustainable long-term funding source than relying heavily on bank borrowing.

According to the company's audited financial statements for the year ended 31 December 2025, the net asset value (NAV) per share, including revaluation, stood at Tk27.54, while the NAV per share without revaluation was Tk15.74. Its earnings per share (EPS) for the half-year stood at Tk0.82.

For FY2024-25, Royal Footwear reported revenue of Tk52.91 crore, slightly higher than Tk52.34 crore in the previous fiscal year. However, profit after tax declined to Tk2.78 crore from Tk3.19 crore a year earlier, while EPS fell to Tk0.82 from Tk0.94. The company's NAV per share, including revaluation, stood at Tk27.54.

SK Trims & Industries, an accessories manufacturer, has reported a narrower net loss for the first quarter of fiscal 2025-26, driven by lower manufacturing and operating expenses compared with the same period a year earlier.

According to a disclosure published today (14 July), the company's loss per share fell to Tk0.33 in the July-September quarter from Tk0.53 in the corresponding period of the previous fiscal year.

The company published its quarterly financials today, around six months after the quarter ended.

Explaining the improved performance, SK Trims said its negative earnings per share (EPS) improved due to lower manufacturing and operating expenses, which reduced its net loss after tax compared with the same period a year earlier.

Net operating cash flow per share improved to Tk0.28 from negative Tk0.02 in the July-September quarter of the previous fiscal year, mainly due to higher cash collections from turnover during the period, the company said.

However, its net asset value per share stood at Tk11.93 as of 30 September 2025, which was Tk14.96 as of 30 September 2024.

Following the disclosure, SK Trims shares surged by 5.97% today to Tk14.20 each at the Dhaka Stock Exchange.

According to its auditor, SK Trims incurred a loss of Tk28.17 crore and its revenue declined to Tk26.43 crore.

The auditor said a primary driver of the operational disruption was a significant delay in the renewal of the company's bond license, which stemmed from the internal administrative misstatement and procedural oversights.

The dollar steadied on Tuesday ahead of US inflation data, with Middle East tensions lifting oil prices.

The yen was calm amid caution over possible intervention and after policymakers’ comments on state pension fund allocations.The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, eased 0.09 percent to 101.18.Inflation risks remain in the spotlight with the release of US June CPI data on Tuesday.June PPI gauges follow the next day, along with Fed Chair Kevin Warsh’s first semiannual testimony before Congress.

Concerns over escalating tensions between the United States and Iran returned to the fore.

President Donald Trump said on Monday Washington was reinstating a naval blockade on Tehran.

He added that the US would ensure the Strait of Hormuz remained open for a fee following fresh exchanges of missile and drone strikes.

US and Iranian forces exchanged heavy missile and drone assaults at the weekend.

Tehran struck US facilities across the Gulf on Sunday and said it had again closed the vital Strait of Hormuz shipping route.

Oil prices climbed nearly 3 percent on Tuesday to their highest point in four weeks after the US said it would reimpose a naval blockade, heightening uncertainty about energy flows.

The euro was up 0.1 percent against the dollar at $1.1392 and sterling gained 0.09 percent to $1.3358.

Meanwhile, Federal Reserve Governor Christopher Waller said rates may need to rise “in the near term” if data shows inflation remaining well above the central bank’s 2 percent target.

A core CPI reading of 0.3 percent or higher would likely imply that the Fed’s preferred core PCE deflator is also running at 0.3 percent or above, depending on PPI data due later in the week.

This was noted by Ray Attrill, head of FX strategy at National Australia Bank, in a podcast.

“That may well be a trigger for a Fed rate hike as early as the July meeting,” Attrill said.

Economists’ median estimate for the June core CPI was 0.2 percent growth month-on-month

The government is operating “like the private sector, seven days a week” to clear red tape and achieve a $1 trillion economy by 2034, Finance Minister Amir Khosru Mahmud Chowdhury said yesterday.

Highlighting the massive scale of regulatory reforms, the minister noted that his recent budget speech required four and a half pages just to list the deregulation measures being introduced.

To prevent these changes from being stalled by bureaucratic bottlenecks, the government is taking direct enforcement actions, he said.

The minister made the comments while speaking as the chief guest at the formal inauguration of RSGT Bangladesh, held at the Sheraton Dhaka in Banani.

The Red Sea Gateway Terminal (RSGT) Bangladesh operates the Patenga Container Terminal at Chattogram port.

“I am constituting a task force to oversee the deregulation we have made, so nobody stands in the way,” the finance minister said.

“A website will be launched where anyone facing problems with the new deregulated framework can lodge a complaint, and we will take care of it. There will be no compromise.”

The entry of Saudi Arabia’s RSGT into Chattogram is seen as a vital step toward fixing the long-standing logistics issues that plague the local business community -- primarily vessel turnaround and delivery times, he said.

“Every hour and every day costs money in business,” the minister noted, stressing that port efficiency is the backbone of the country’s economic growth.

The goal is to establish Chattogram as the primary logistics hub not just for Bangladesh, but for the entire South Asian region, he said.

Reflecting on the historical relationship between Dhaka and Riyadh, the minister said the deepening Saudi-Bangladesh ties began with President Ziaur Rahman’s close relationship with the Saudi royal family.

The relationship expanded significantly under Begum Khaleda Zia, paving the way for over 4 million Bangladeshi expatriates currently working in Saudi Arabia.

The minister welcomed RSGT’s presence as a natural continuation of this historic bond and urged the Saudi firm to look beyond the port sector for future investments, promising the government’s full support.

Aamer Abdullah Zainal Alireza, executive chairman of RSGT, and Erwin Haaze, CEO of RSGT Bangladesh, also spoke at the event.

Stocks ended higher on Tuesday, extending the previous session's gains as growing investor confidence, driven by recent regulatory reforms and supportive fiscal measures, outweighed concerns over the possibility of renewed geopolitical tensions in the Middle East.

The benchmark DSEX index of the Dhaka Stock Exchange gained 44.69 points, or 0.76 per cent, to close at 5,911.24.

The day's index was the highest in 23 months, since August 14, 2024, when the index stood at Tk 5953.

Market operators said investor sentiment has continued to strengthen following the passage of the Finance Bill 2026, which introduced a range of incentives aimed at revitalising the country's capital market. They also noted that recent reform initiatives announced by the securities regulator have reinforced expectations of a more efficient and transparent market.

Analysts said the budgetary measures are expected to make equity investments more attractive, encourage greater participation from both retail and institutional investors, strengthen the mutual fund industry, and enable companies to raise long-term funds more efficiently through the capital market.

The DS30 index, comprising leading blue-chip companies, increased 24 points to 2,227, while the DSES index, which tracks Shariah-based stocks, increased 10.24 points to 1,207.

Market participation improved on Monday, with turnover on the Dhaka Stock Exchange (DSE) rising to Tk 16.51 billion from Tk 14.19 billion in the previous session.

Gainers outnumbered Losers on the DSE floor. Of the 393 issues traded, 199 closed higher and 137 ended lower, while 57 remained unchanged.

The Chittagong Stock Exchange also ended higher, with its All Shares Price Index (CASPI) gaining 67.5 points to 15,778 while the Selective Categories Index (CSCX) rose 38.6 points to 9,673.

China's exports surged more than expected last month, with official data on Tuesday showing that the global AI boom helped fuel demand for chips and computing equipment from the world's second-largest economy.

The figures came despite global trade disruptions caused by the US-Israeli war on Iran, providing a much-needed boost to China, which is increasingly reliant on exports to fuel growth.
Overseas shipments rose 27.0 percent year-on-year, beating the 19.0 percent forecast in a Bloomberg survey of economists.The General Administration of Customs data also showed imports soared 36.0 percent, easily outstripping the 26.1 percent estimated in the Bloomberg survey, and well up from the 27.4 percent jump seen in May."Trade values took another big leg up in June. This predominantly reflects the recent surge in semiconductor prices on the back of the AI boom," Julian Evans-Pritchard, of Capital Economics, said in a note.The value of China's semiconductor exports more than doubled from the same month a year ago and rose $2.7 billion from May, while data processing equipment shipments also rose 53.1 percent from a year earlier.

But that expansion was "entirely a price story caused by the ongoing shortage of memory chips", Evans-Pritchard said, noting that the volume of semiconductor exports actually fell year-on-year in June.

"Surging semiconductor prices are playing a key role in pushing up import values," rather than domestic consumption surging, he said.

Automobile exports jumped 69.6 percent on-year, reflecting strong demand for Chinese electric vehicles, he added.

Shipments to the United States rose 13.9 percent to $43.5 billion, putting China's trade surplus with its superpower rival at $28.9 billion.

Ties between Washington and Beijing have stabilised since US President Donald Trump visited Beijing in May, but the persistent trade imbalance remains a source of friction between the two.

China is also locked in a simmering trade feud with the European Union, with which it recorded a trade surplus of $32.9 billion in June, a rise from $30.7 billion in May.

June's data "showcases the competitiveness and resilience of China's manufacturing sector", Zhang Zhiwei, of Pinpoint Asset Management, wrote in a note.

"It also put further pressure on the trade tension between China and its trading partners, Europe in particular," he said.

The volume of rare earths exports sank 34 percent last month and 6.4 percent on-year in the first six months of the year as Beijing tightened restrictions on the critical elements.

China accounts for around two-thirds of the total global production of the minerals, which are used to make everything from smartphones to missiles, and has wielded its dominance in the sector as a weapon in trade wars with the West.

China's overall trade surplus hit $126 billion last month, up from $105 billion in May, a gap that is worrying for European economies and other governments.

Stakeholders and policy experts have urged the government to make the blue economy a national priority, calling for stronger governance, a comprehensive legal framework and greater inter-ministerial coordination to unlock Bangladesh's vast ocean-based economic potential.

The call came at a policy dialogue titled "National Stakeholder Consultation on Blue Economy Governance in Bangladesh", held yesterday (13 July) at the Doyel Seminar Hall of SIMEC Institute of Technology in Uttara.

The consultation was organised by the Blue Economy Think Tank and chaired by Prof S M Shameem Reza of the Department of Mass Communication and Journalism at the University of Dhaka.

Speakers said Bangladesh's marine resources present significant opportunities to boost sustainable development and economic growth, provided the sector is supported by effective policies, institutional collaboration and scientific research.

They called on the government to formulate a comprehensive national strategy and legal framework for the exploration, utilisation and sustainable management of marine resources.

Participants also stressed the need to strengthen coordination among ministries and foster closer collaboration between government agencies, research institutions and other stakeholders involved in the sector.

The discussants said policymakers and researchers with specialised expertise in the blue economy should play a leading role in designing and implementing policies.

They also highlighted the importance of public-private partnerships in attracting foreign investment and accelerating sustainable economic development through the responsible use of marine resources.

Among those attending the consultation were Bangladesh Investment Development Authority (BIDA) Director General (Investment Promotion) Jibon Krishna Saha Roy, Prime Bank Deputy Head of Sustainable Finance Fareba Naz Shaule, Executive Officer Sharmin Akter Shetu, SIMEC Group Executive Director Foara Yasmin, BRAC University Assistant Professor Ratan Kumar Roy, Port City University Senior Lecturer Md Nurul Amin, Maasranga Television Special Correspondent Noor-un-Nahar Weely, Australia Awards 2024 alumni, and faculty members and researchers from public and private universities.

The consultation was organised under the Australia Awards - Driving Change: Alumni Grants for Innovation initiative, which aims to promote knowledge-sharing on the blue economy and strengthen stakeholders' capacity to support sustainable ocean governance in Bangladesh.

Advanced Chemical Industries (ACI) PLC has decided to invest Tk700 crore in its subsidiary, ACI Logistics Limited, which operates under the retail brand Shwapno.

The investment decision was approved at a meeting held today (14 July), according to company sources.

As part of the investment, ACI will subscribe to 70 lakh convertible preference shares of ACI Logistics, each with a face value of Tk1,000. The investment is expected to be completed by 15 October of the current year.
The move is expected to strengthen ACI Logistics' capital base and support the continued expansion of its retail operations under the Shwapno brand, according to the company's statement.

RSGT Bangladesh, the country's first international container terminal operator, on Tuesday officially launched full-scale operations at the Patenga Container Terminal after investing $170 million over the past two years, aiming to enhance cargo handling capacity, reduce vessel turnaround time and strengthen Bangladesh's maritime logistics.

The inauguration ceremony in Dhaka was attended by Finance Minister Amir Khasru Mahmud Chowdhury as chief guest, alongside senior officials from the governments of Bangladesh and Saudi Arabia, underscoring growing bilateral cooperation in trade, logistics and investment.

RSGT Bangladesh said it has completed the deployment of modern container handling equipment, digital systems and operational infrastructure, marking the completion of its transformation of the Patenga Container Terminal under a 22-year concession agreement with the Chittagong Port Authority (CPA).
Since taking over operations in 2024, the company has invested in expanding the terminal's capacity and modernising its facilities.

The company said it has committed $170 million to develop the terminal into an international-standard facility.

Among the major investments are $30 million for four ship-to-shore (STS) cranes and $25 million for 14 hybrid rubber-tyred gantry (RTG) cranes. It also invested $3 million in a container scanner while expanding container yards, warehouse facilities and digital operations.

According to the company, the terminal now operates with a full fleet of modern container handling equipment and internationally trained personnel.

RSGT Bangladesh began commercial operations at the terminal in June 2024 by handling its first commercial vessel. It later introduced full import and export container operations, implemented digital process automation through an e-portal and obtained Green Terminal Certification from Bureau Veritas.

The company said the terminal has grown from handling only a few thousand containers during its initial months to becoming a modern international gateway capable of supporting Bangladesh's expanding external trade.

Speaking at the event, company officials thanked the Chittagong Port Authority for its support throughout the project's implementation, describing the development as an example of successful public-private partnership in port infrastructure.

They said the modernisation of the terminal is expected to improve operational efficiency, shorten vessel turnaround times, increase cargo handling capacity and strengthen Bangladesh's position as a regional trade and logistics hub.

The inauguration was attended by senior representatives from the Saudi Ministry of Investment and the Ministry of Transport and Logistics Services, the chairman of the Chittagong Port Authority, the Saudi ambassador to Bangladesh, executives from leading global shipping lines, including Maersk, CMA CGM, MSC and PIL, as well as representatives from BGMEA, BKMEA, BIDA, ICD operators and shipping and clearing agents' associations.

RSGT Bangladesh, a subsidiary of Saudi Arabia-based Red Sea Gateway Terminal Group, is operating the Patenga Container Terminal under a 22-year concession agreement with the Chittagong Port Authority. The company said it will continue investing in technology, infrastructure and workforce development to support Bangladesh's growing trade and logistics sector.

Speaking as the chief guest, Amir Khasru Mahmud Chwdhury said the entry of Saudi Arabia's RSGT into Chattogram is seen as a vital step toward fixing the long-standing logistics issues that plague the local business community -- primarily vessel turnaround and delivery times.

"Every hour and every day costs money in business," the minister noted, stressing that port efficiency is the backbone of the country's economic growth.

The goal is to establish Chattogram as the primary logistics hub not just for Bangladesh, but for the entire South Asian region, he said.

Reflecting on the historical relationship between Dhaka and Riyadh, the minister said the deepening Saudi-Bangladesh ties began with former president Ziaur Rahman's close relationship with the Saudi royal family.

The relationship expanded significantly under Khaleda Zia, paving the way for over 4 million Bangladeshi expatriates currently working in Saudi Arabia.

The minister welcomed RSGT's presence as a natural continuation of this historic bond and urged the Saudi firm to look beyond the port sector for future investments, promising the government's full support.

Aamer Abdullah Zainal Alireza, executive chairman of RSGT, and Erwin Haaze, CEO of RSGT Bangladesh, also spoke at the event.

The visiting International Monetary Fund mission yesterday (14 July) held a meeting with the Economic Relations Division (ERD) to assess the country's external debt risks.

During the meeting at the Secretariat, the IMF sought detailed information on Bangladesh's cost of debt, availability of concessional financing, growing reliance on market-based floating-rate loans, average borrowing costs, and external debt-servicing obligations.

According to ERD officials who attended the meeting, the multilateral lender also sought an explanation for the recent decline in external loan disbursements to Bangladesh. In addition, the mission asked why budget support from development partners has fallen in recent years.
The officials said they told the mission that Bangladesh is transitioning from a "low-risk stabilisation phase" to a "medium-risk acceleration phase" in terms of external debt risk.

They said external borrowing has become increasingly expensive as concessional financing dwindles. Bilateral lenders, particularly Japan, are shifting towards less concessional loans, while the share of market-based floating-rate borrowing from multilateral lenders such as the World Bank and the ADB continues to rise.

Floating-rate loans accounted for about 30% of Bangladesh's external debt portfolio in FY25, and officials expect that share to increase further in the recently concluded fiscal year.

Bangladesh is entering a period of intense fiscal pressure, with external debt servicing set to surge sharply over the next five years, exposing the limits of its already weak revenue base, officials told the IMF.

According to an ERD report, the country will need to pay nearly $26 billion in external debt servicing between the current fiscal year and FY30.

In the 54 years since independence in 1971, Bangladesh has paid around $40 billion in debt servicing. Now, nearly two-thirds of that amount will be repaid within just five years.

Review part of broader macroeconomic assessment

ERD officials said the IMF's review forms part of its broader assessment of Bangladesh's macroeconomic conditions and external debt sustainability.

As part of the exercise, the mission sought an update on the country's external borrowing position and asked what steps the government is taking to accelerate the disbursement of committed foreign loans that remain stuck in the pipeline.

Officials said they informed the IMF mission that the government is reviewing many ongoing projects inherited from the previous administration and is taking a cautious approach to approving new externally financed projects.

They added that development activities slowed during the interim government's tenure, contributing to weaker foreign loan disbursements.

According to ERD data, Bangladesh currently has $41.73 billion in undisbursed foreign loans in the pipeline. External loan disbursements totalled $4.577 billion in July-May, down 18.3% from $5.488 billion in the corresponding period a year earlier.

For FY25, total external loan disbursements stood at $9.26 billion, compared with $10.25 billion in the previous fiscal year, ERD data shows.

Budget support

Officials said the IMF also sought an explanation for recent trends in budget support.

According to the ERD, Bangladesh received a record $3.44 billion in budget support in FY25, but the amount fell sharply to $1.56 billion in FY26. Officials expect budget support to decline further in the current fiscal year.

They said budget support increased in the aftermath of the Covid-19 pandemic and the Russia-Ukraine war to help Bangladesh cope with mounting economic pressures.

More recently, heightened geopolitical tensions stemming from the Israel-US conflict with Iran have further increased the need for external financing.

Bangladesh exited an existing $5.5 billion IMF loan programme, agreed in 2023 under the previous government, and is now seeking a new three-year package worth $4-4.5 billion with revised reform conditions.

The high-level IMF delegation arrived in Dhaka on 12 July for a five-day fact-finding mission to assess the feasibility of the fresh loan package.

Bangladesh has called for stronger United Nations support to ensure a sustainable graduation from the Least Developed Country (LDC) category, implement the Sustainable Development Goals (SDGs), and advance the government's reform agenda.

Prime Minister's Finance and Planning Adviser Rashed Al Mahmud Titumir made the appeal during separate meetings at the UN Headquarters in New York with UN Under-Secretary-General Li Junhua, Executive Secretary of the UN Economic and Social Commission for Asia and the Pacific (UNESCAP) Armida Salsiah Alisjahbana, and UNDP Regional Director Kanni Wignaraja.
During the meetings, Titumir reiterated Bangladesh's request for a three-year extension of its LDC graduation preparatory period. He also outlined the government's "3R" strategy – Recovery, Restoration and Reconstruction for Acceleration – to restore macroeconomic stability and implement institutional reforms following the public mandate expected from the February 2026 national election.

UN representatives reaffirmed their continued support for Bangladesh's LDC graduation process, governance reforms, climate resilience initiatives and expansion of social protection programmes.

Photo: Courtesy
Photo: Courtesy

In his meeting with Li Junhua, Titumir formally presented Bangladesh's request for the extension, saying additional time is needed to maintain macroeconomic stability, effectively implement the Smooth Transition Strategy and ensure a sustainable and irreversible graduation from LDC status.

Li assured Bangladesh of the UN Department of Economic and Social Affairs' continued support and pledged to work closely with the country to facilitate a successful transition.

Bangladesh seeks stronger global support to bridge $132b SDG financing gap

Separately, speaking at the General Debate of the High-Level Political Forum on Sustainable Development (HLPF) 2026 at the UN Headquarters on Monday, Bangladesh's Country Statement highlighted the need for stronger international support, including grants, concessional financing and technology transfer, to bridge an annual SDG financing gap of more than $132 billion and accelerate progress towards the 2030 Agenda.

The statement said Bangladesh continues to face significant financial constraints in achieving the SDGs, particularly in clean energy, economic growth and infrastructure. It also noted a 37% funding shortfall for supporting around 1.3 million Rohingya refugees, with an immediate financing gap of approximately $261 million.