Singapore has expressed its interest in strengthening bilateral relations with Bangladesh and expanding cooperation in areas of mutual benefit, opening up new opportunities in trade, investment and other key sectors.

Non-Resident High Commissioner of Singapore to Bangladesh Derek Loh expressed the interest during a visit to Dhaka, when he held meetings with key political leaders and senior government officials.

During the visit, he called on Speaker Hafiz Uddin Ahmad, Home Minister Salahuddin Ahmed, Law, Justice and Parliamentary Affairs Minister Md Asaduzzaman, Science and Technology, Posts, Telecommunications and Information Technology Minister Faqir Mahbub Anam, Liberation War Affairs Minister Ahmed Azam Khan, and Road Transport, Bridges, Railways and Shipping Minister Shaikh Rabiul Alam.

Derek Loh also met BNP acting Secretary General Ruhul Kabir Rizvi, Leader of the Opposition and Bangladesh Jamaat-e-Islami Ameer Dr Shafiqur Rahman, Executive Chairman of Invest Bangladesh Authority Ashik Chowdhury, Chattogram Port Authority Chairman Rear Admiral SM Moniruzzaman, and representatives of leading think tanks.

Discussions during the meetings focused on strengthening cooperation between the two countries in artificial intelligence, cybersecurity, energy, digitalisation, capacity building, healthcare, trade and investment.

Port development, including PSA's proposed Bay Terminal project, also featured in the discussions.

The Executive Committee of the National Economic Council (Ecnec) today (4 November) approved 13 development projects worth Tk58,088.92 crore, including 11 new projects and two revised ones.

The approvals came at an Ecnec meeting chaired by Prime Minister and committee chairperson Tarique Rahman at the Cabinet Division's conference room in the Bangladesh Secretariat.

Of the total project cost, Tk50,041 crore will come from government funds, Tk7,974.65 crore from project loans and grants, and Tk73.07 crore from the implementing agencies' own resources.

The Ministry of Local Government, Rural Development and Cooperatives secured approval for five projects. These include safe water supply and sanitation in the Barind region, restoration and re-excavation of canals in Barishal city, climate-resilient urban development and social infrastructure development.

The third revision of a project for priority-based development of important rural infrastructure was also approved.

Police, housing and healthcare projects

Two projects under the Ministry of Home Affairs received approval to procure specialised and operational vehicles to strengthen the capacity of Bangladesh Police.

Other approved projects include the construction of B-type residential accommodation for army officers in the Moinul Road residential area of Dhaka Cantonment and a multi-storey residential building for government employees at Gabtola Colony in the capital's Jigatala.

The Ministry of Science and Technology received approval to establish Institutes of Nuclear Medicine and Allied Sciences on the campuses of five medical college hospitals.

The Fifth Primary Education Development Programme, under the Ministry of Primary and Mass Education, was also approved.

In the energy sector, Ecnec cleared a project to drill two appraisal-cum-development wells, Titas-32 and Titas-33, at the Titas Gas Field.

The committee also approved the third revision of a project to construct bridges and culverts up to 15 metres long on rural roads.

Five more projects approved

The meeting was also informed that the planning minister had approved five additional projects, each costing less than Tk50 crore.

The projects include one to modernise cardiac treatment services at the Zia Heart Foundation Hospital and Research Institute in Dinajpur, another to promote safe internet use among children, adolescents and secondary school students, and a third to improve traffic infrastructure and road safety in areas under Dhaka North City Corporation.

The other two projects involve expanding and modernising the Dhaka Central Drug Addiction Treatment Centre and procuring modern vehicles and equipment to improve waste management in Gazipur City Corporation.

Relevant ministers, state ministers, advisers and senior officials from various ministries and divisions attended the meeting.

Around 370 garment factories suspended production today (4 November) amid labour unrest and fears of further agitation, according to factory owners and industry leaders.

Meanwhile, fresh unrest erupted in Fatulla, Narayanganj, one of the country's major garment manufacturing hubs.

"So far as we know, about 370 factories have had to suspend production due to unrest," ABM Shamsuddin, director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told The Business Standard.

The number of factories forced to halt production was lower than the previous day, said Mahmud Hasan Khan Babu, president of the BGMEA.

"The number of factories forced to suspend production is lower than the previous day," he told TBS.

Ealier, on Tuesday (3 November), around 600 garment factories suspended operations, mainly in Gazipur, Savar, Mymensingh, Mirpur in Dhaka and Narayanganj.

The number was even higher on Monday, when around 700 factories suspended production.

The Bangladesh Bank has allowed authorised dealer (AD) banks to provide foreign currency custodial accounts to licensed money changers, aiming to improve cash management and reduce the risks of transporting physical currency.

The central bank issued a circular today (4 November) outlining the rules for the accounts, which will be used exclusively to keep, deposit and withdraw physical foreign currency notes.

The accounts will not earn interest, the circular stated.

Under the guidelines, Deposits may be made without a ceiling, subject to documented business turnover and transaction profiles. Licensed money changers must maintain valid cash-in-transit insurance.

Currency movements exceeding limits set by authorised dealers must be handled by licensed cash-in-transit service providers or through secure, escorted transport.

Banks have also been advised to provide secure counters and temporary vault storage for deposits made late in the day.

Withdrawals may be made by cheque or withdrawal slip through duly authorised representatives, subject to available balances. Overdrafts and credit facilities are prohibited.

The circular also bars transfers, remittances and third-party transactions through these accounts. All transactions must be settled exclusively in physical foreign currency notes.

The initiative is intended to strengthen operational security, improve cash management and enhance regulatory compliance in foreign currency transactions involving licensed money changers.

Bangladesh earns only around $16 million a year from carbon credits, despite having the potential to generate up to $1 billion annually, said Md Saimum Parvez, special assistant to the prime minister for environment, forest and climate change affairs.

The government has finalised a national carbon credit framework, which will go to the cabinet within a month. It also plans to set up a national registry, remove bureaucratic hurdles and support small-scale solar and other eligible projects to attract public and private investment.

Speaking at an event in Dhaka organised by the Power Division and Infrastructure Development Company Limited (IDCOL) yesterday, Saimum said current earnings came mainly from improved cooking stoves and solar cooking projects. Renewable energy, irrigation and energy efficiency could also generate carbon credits if emission reductions were properly verified.

He said developers must consider carbon finance from the planning stage, as international standards require them to prove that projects would not have gone ahead without such funding. Projects in the pipeline, particularly private-sector initiatives, have a better chance of qualifying.

The government also plans to convert more than one million diesel- or electricity-powered irrigation pumps to solar power within the next one and a half to two years.

Stakeholders at the event identified low awareness, investment risks and limited access to affordable finance as major barriers to renewable energy and carbon credit projects.

Fazlul Hoque, administrator of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), said the main challenge was not a shortage of funds but weak grassroots demand and limited awareness among businesses and investors.

Habibur Rahman, deputy governor of Bangladesh Bank, called for cheaper loans, longer repayment periods and clear guidelines. He said the central bank had promoted green banking since 2011 and introduced the $200 million Green Transformation Fund, which provides banks with funds at 1 to 2 percent interest, while borrowers pay 5 percent.

Jean Pesme, World Bank country director, stressed the need for predictable policies, reliable contracts and transparency to attract private investment. He also suggested grouping smaller projects to draw larger investors.

Md Mahbub ur Rahman, chief executive officer of HSBC Bangladesh, said reliance on conventional energy exposed the country to supply risks and rising costs.

He called for a roadmap to increase renewables’ share of power generation from less than 5 percent now to 20 percent by 2030 and 30 percent by 2040.

He also stressed net metering, affordable financing and better coordination among government agencies, banks and development partners, while welcoming tax incentives and lower import duties on renewable energy equipment.

The stock market staged a broad-based recovery today (4 November), with nearly 74% of traded securities advancing, as the Bangladesh Securities and Exchange Commission (BSEC) decided to ease restrictions on selected beneficial owner (BO) accounts that had remained frozen for more than two years.

The regulatory move, which allows affected investors to resume share trading and inject fresh funds into their accounts, boosted investor sentiment. Bargain hunting in fundamentally sound stocks that had suffered significant corrections in recent sessions also contributed to the market rebound.

The Dhaka Stock Exchange (DSE) benchmark DSEX gained 57.32 points, or 1.08%, to close at 5,341.63, snapping a four-session losing streak.

The blue-chip DS30 index rose 16 points to 2,037.62, while the Shariah-based DSES advanced seven points to 1,036.88.

According to EBL Securities, the market opened on a positive note, supported by modest buying interest. However, intermittent selling pressure trimmed some of the early gains. Buying momentum gradually regained strength in the second half of the session, while a late-session surge in purchases pushed the indices further upward, helping the market close firmly in positive territory.

The brokerage firm said bargain hunting in recently battered stocks helped restore some investor confidence. However, persistent uncertainties and lingering caution continued to weigh on overall market sentiment.

Of the 383 issues traded on the DSE, 282 advanced, 51 declined and 50 remained unchanged. This means nearly 74% of the traded securities closed higher.

Despite the broad-based recovery, market turnover declined by around 8% to Tk522 crore from Tk565 crore in the previous session, suggesting that investors remained cautious about increasing their exposure.

On 3 November, the BSEC decided at a meeting to partially lift restrictions on selected BO accounts after reviewing applications from individual investors.

Under the decision, account holders will be allowed to buy and sell shares, inject fresh funds and settle claims against their accounts. However, restrictions on withdrawing money from the accounts will remain in place.

BSEC spokesperson Abul Kalam said the commission had partially unfrozen selected BO accounts following individual applications. The account holders can now resume trading and adjust their margin facilities, although cash withdrawals remain prohibited.

Following the political change in August 2024, the regulator ordered the freezing of 617 BO accounts as part of investigations into alleged market manipulation and other irregularities. Some accounts were frozen on the commission's own initiative, while others were restricted following directives from government agencies, including the Bangladesh Financial Intelligence Unit (BFIU), and court orders.

According to market sources, around half of the accounts were frozen by the commission over alleged share manipulation. Some account holders were also fined substantial amounts for their involvement in market manipulation. The remaining accounts were frozen following directives from the court and the BFIU.

On the sectoral front, all large-cap sectors posted positive returns, according to BRAC EPL Securities. Non-Bank Financial Institutions (NBFIs) led the gains, rising 1.69%, followed by Fuel and Power at 1.06%, Banks at 1.01%, Food and Allied at 0.98%, Telecommunications at 0.72%, Engineering at 0.67% and Pharmaceuticals at 0.51%.

EBL Securities reported that all sectors posted positive returns. Paper stocks led the sectoral gains, rising 2.7%, followed by Ceramics at 2.5% and Textiles at 2%.

Textiles accounted for the largest share of market turnover at 30.5%, followed by General Insurance at 11.9% and Pharmaceuticals at 10.2%.

Matin Spinning Mills was the most traded stock, recording turnover of Tk32.6 crore, according to BRAC EPL Securities. Evince Textiles and Shahjibazar Power were also among the most actively traded securities.

Shinepukur Ceramics topped the gainers' list, rising 9%, followed by Purabi General Insurance, which gained 8.65%, and SK Trims and Industries, up 8.55%.

GSP Finance Company was the biggest loser, falling 9.33%. Atlas Bangladesh declined 4.28%, while Orion Pharma lost 4.18%.

The positive trend also extended to the Chittagong Stock Exchange (CSE). Its All Share Price Index (CASPI) gained around 101 points to close at 14,315, while the Selective Categories Index (CSCX) rose 63 points to 8,791. Turnover on the port city bourse stood at Tk4.40 crore.

Asian nations that have borne the brunt of the US-Israeli war on Iran and US President Donald Trump’s trade tariffs are hopeful that Democrats will be able to temper his most harmful policies.
Democrats were on track to claim the House of Representatives and the Senate in US midterm elections, with early results from Tuesday’s voting showing gains against Republicans.

While Trump will remain in office, his ability to get his way might be constrained by Democrats, who can use congressional powers to control government spending and launch investigations into Trump, his family and his allies.

The Iran conflict is the most pressing issue for Asian countries, especially importers of fossil fuels like crude oil, refined products and liquefied natural gas (LNG). The war launched by the US and Israel on February 28 has seen energy prices surge across Asia, especially for refined fuels, with Singapore gasoil - the building block for diesel - closing at a record high of $199.89 a barrel on March 30.

It has since eased to end at $164.18 a barrel on Tuesday, but this is still 80 percent higher than the $91.42 from the day before the Iran war started. Spot LNG prices for delivery to North Asia have tripled since the start of the conflict to $32.50 per million British thermal units, while Australian thermal coal at Newcastle Port, a grade popular with utilities in Japan and South Korea, has jumped 30 percent to $151.15 a metric ton.

It’s not just the price increases that have spooked Asian economies; there have also been issues with securing supply, given the continent was the destination for about 80 percent of crude oil and refined fuels from the Middle East.

Australia, the world’s largest importer of diesel and a close US ally, had to scramble to ensure sufficient supplies in the early months of the conflict, effectively leveraging its exports of coal and LNG to ensure buyers of these products were able to supply liquid fuels in return.
Asian energy importers will be hoping that Democrats can limit Trump’s ability to continue the war against Iran, while at the same time encouraging a diplomatic end to the conflict. If Asian economies are to lower the risk of recession, then limiting energy-led inflation is seen as vital.

Asian countries, particularly US allies such as Japan, South Korea and India, will also be hoping that Democrats in Congress will be able to moderate the worst impacts of Trump’s trade policies, which have seen unilateral tariffs imposed and unrealistic promises made in order to seal deals offering some relief.

There is a Trump policy that many Asian countries will be hoping continues: his administration’s efforts to build supply chains outside China for critical minerals. This has seen US investment into mines and processing facilities and an increase in capital available for new projects.

Given that there is bipartisan support for many of these efforts, it’s likely that Democrats would be broadly supportive of continuing to invest in minerals like rare earths, tungsten and lithium, with the caveat that they may want to launch investigations into companies with ties to Trump that have benefited from funding.

Overall, what Asian nations that are traditional friends of the US want most out of Democrats is a brake on Trump’s impulsive decision-making, an end to the conflict in the Middle East, a rolling back of trade tariffs and more consistency in how allies are treated. For countries that are less friendly to the US, or are seen as rivals, such as China, a return to a more predictable foreign and trade policy would be welcome.

The main risks are doubts as to whether Democrats will be able to rein in Trump, given his cavalier attitude to obeying legislation and previously followed rules. There is also wariness over the risks presented in the next two months until the new Congress first sits on January 3, with fears Trump may be tempted to use the window of a lame-duck but still Republican Congress to revive the Iran war and enact more trade tariffs.

Combined net interest income at the country’s listed commercial banks turned negative in the first nine months of this year, for the first time in at least six years, as demand for new loans stayed weak and non-performing loans weighed heavily.

Income from investments, especially government bonds, carried much of the load during the period for the banks, according to their financial statements.
A Daily Star analysis shows that 27 listed lenders reported negative net interest income of Tk 5,624 crore in the January-September period this year. In the same period last year, the amount was a positive Tk 3,016 crore.

Interest income should be the bread and butter of banks, since lending is their core business. But private-sector credit demand has fizzled out, and a huge stock of bad loans is straining the balance sheets of many lenders, according to banking experts.

They said banks are putting more money into government bonds because lending has become less attractive.“The overall business scenario of the banking sector is horrible,” said Shah Md Ahsan Habib, a professor at the Bangladesh Institute of Bank Management (BIBM).

He said banks now depend heavily on government bonds because their main source of interest income has turned negative.

Of the 27 listed banks, net interest income fell at 20 in the first nine months of this year. The number of banks reporting negative interest income rose to 10 from six a year earlier.

Over the same period, net investment income across the 27 banks rose 21 percent to Tk 32,622 crore.

SEVEN BANKS LOSE MORE THAN 20 BANKS MAKE IN PROFIT

The analysis shows that the 20 profitable banks made combined profits of Tk 9,600 crore in the first nine months. The other seven lost more than Tk 13,000 crore between them.

The losses are concentrated in commercial lenders weighed down by heavy non-performing loans, many of which turned sour under the previous Awami League government.

BRAC Bank, Pubali Bank, City Bank, Prime Bank and Eastern Bank were the five most profitable. Islami Bank, National Bank, AB Bank, IFIC Bank and Rupali Bank posted the biggest losses.

Mashrur Arefin, managing director and CEO of City Bank, said private-sector credit growth has been hovering at the lowest levels on record, mainly because of global economic uncertainty and war. Banks are therefore earning from their older loans and from government securities.

The combined net interest income has turned negative because loan growth was too slow, and some banks held huge non-performing loans that earned no interest, said Mashrur, also chairman of the Association of Bankers Bangladesh (ABB), the apex professional body for top bank executives.

However, BIBM Prof Ahsan said weak credit demand is only part of the problem.

He said, “Banks themselves are wary of lending to many businesses, and regulatory forbearance, which lets banks delay recognising bad loans, has made them reluctant to extend credit.”

“It is a dangerous combination,” added Prof Ahsan.

Anis A Khan, a former ABB chairman, agreed that most banks have run into trouble after lending generously and are now cautious.

“It is better not to lend at all than to lend indiscriminately, because the funds a bank lends are ultimately the public’s money,” he said.
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The former banker also said the broader economic climate is poor. “Supply chains are disrupted, and commodity prices have risen. All in all, both the external and internal business environments are unfavourable.”

LOWER BAD-LOAN PROVISIONS FLATTER PROFITS

Despite the fall in lending income, most listed banks reported higher profits in the first nine months of this year. They earned more from investments and set aside less money to cover bad loans, a practice known as provisioning.

Provisions across the 27 banks fell by almost a third, to Tk 6,900 crore from Tk 10,000 crore a year earlier.

At the 20 profitable banks, provisions fell by Tk 3,286 crore, more than the Tk 2,238 crore rise in their combined profits.

Adding provisions back shows the effect. Profit before provisions at these banks fell about 6 percent to Tk 16,150 crore from Tk 17,200 crore.

This is a rough calculation that ignores tax, but it suggests that lower provisioning, rather than stronger core earnings, drove much of the profit growth.

Dutch-Bangla Bank recorded the biggest fall in provisions, down Tk 823 crore, while its profits rose by about Tk 370 crore.

Among the five most profitable banks, Pubali Bank’s profits rose by Tk 673 crore while its provisions fell by Tk 387 crore. Loan provisions also dropped at City Bank and Prime Bank.

BRAC Bank bucked the trend among the large lenders. Its profit rose 38 percent to Tk 2,120 crore even though provisions rose 80 percent to Tk 263 crore. Net interest income rose 42 percent to Tk 1,655 crore and net investment income rose 22 percent to Tk 4,143 crore.

The seven loss-making banks set aside just Tk 371 crore in provisions, against combined losses of Tk 13,340 crore.

Rupali Bank provisioned Tk 1 crore, IFIC Bank Tk 4 crore and National Bank Tk 9 crore, while Standard Bank and The Premier Bank set aside nothing.

Contacted by The Daily Star, Dutch-Bangla Bank said its loan provisions dropped because its non-performing loans fell.

Faisal Rahman, chief executive officer of Prime Bank, said their provisions for loans and advances have decreased because asset quality improved, non-performing loans declined and cash recoveries from classified loans and impaired assets increased.

The Daily Star tried to reach Pubali Bank by phone and SMS, but the lender did not respond by yesterday evening.

Meanwhile, ABB chairman Mashrur said provisioning by banks might have fallen because the commercial lenders wrote off loans.

He thinks the central bank should check whether any bank engaged in “window dressing” to overstate profits where provisions fell sharply.

BIBM Prof Ahsan said the central bank should take a tougher line on wilful defaulters and stop granting them regulatory concessions. Making borrowers repay would help restore confidence among banks.

He also urged the government to make the business climate more conducive and predictable, build confidence and cut red tape.

A government committee has recommended introducing uniform base rates for construction materials, equipment and labour across public engineering agencies to reduce inconsistencies in estimating construction and maintenance costs of development projects.

The recommendations were made in the "Schedule of Rates Update and Reform Report 2026", prepared by a committee formed following instructions from the Executive Committee of the National Economic Council (Ecnec). The report was presented at an Ecnec meeting chaired by Prime Minister Tarique Rahman at the Secretariat today (4 November).

The report, signed by Prime Minister's Adviser on Finance and Planning Rashed Al Mahmud Titumir, also proposes standardising cost analysis, introducing regional rate adjustments and establishing a digital system for preparing and approving rate schedules.

Speaking at a press briefing after the meeting, State Minister for Planning Md Zonayed Abdur Rahim Saki said the government was preparing a rate schedule to determine project costs.

"Software and artificial intelligence (AI) would be used to monitor whether project costs followed the prescribed rates," he said.

The government has also directed that relevant experts be included in project evaluation committees to assess the justification and actual prices of items or work not covered by the rate schedule.

Saki said the government was working to ensure that public procurement prices reflected market rates while strengthening accountability in public spending.

According to the report, government engineering agencies currently follow separate rate schedules, resulting in different cost estimates for similar materials and construction work. Delays in updating these schedules also create discrepancies between official estimates and market prices.

To address this, the committee recommended common base rates and a standard cost analysis method, with unique codes for construction materials and work items.

It also proposed updating rate schedules every three years based on market conditions, with earlier adjustments allowed if fuel, electricity or key construction material prices rise sharply.

A software-based web portal has been recommended to allow engineering agencies to prepare, review and update rate schedules through a common platform.

Regional cost adjustments

The committee proposed regional rate adjustments alongside uniform base rates, as transporting and supplying construction materials costs more in hilly, coastal, island and remote areas. A uniform rate structure may not adequately reflect these differences, the report said.

It also recommended including modern construction methods, prefabricated materials and environmentally friendly and recycled products in the rate schedules.

The report identified duties and taxes, transport costs, alleged extortion by transport operators, manipulation by intermediary importers and market dominance by some traders as factors that could drive up construction material prices.

It recommended reviewing taxes and duties on rods, stone and bitumen, alongside the VAT and tax structure for contracting work.

Greater use of railways and waterways for transporting heavy construction materials was also proposed to reduce costs, along with stronger monitoring to prevent extortion and irregularities.

The committee further recommended clearer responsibilities for engineering agencies in preparing sector-specific rate schedules.

Six-month implementation plan

The report proposed implementing the reforms within six months.

Under the plan, uniform base rates and cost analysis methods would be approved within the first three months, while engineering agencies would update their respective rate schedules over the following three months.

The committee expects the reforms to reduce discrepancies in project cost estimates and bring government construction rates closer to market prices.

Mongla Port, the country’s second-largest seaport, is set for a major modernisation drive as the government moves to expand its cargo and container-handling capacity and strengthen its role in regional trade.

The government is going to invest more than Tk 4,000 crore in two container jetties and supporting infrastructure at the port in the southwestern coastal region under a project titled “Expansion and Modernisation of Facilities at Mongla Port”.
Prime Minister Tarique Rahman is expected to lay the foundation stone for the project at the port today.

Despite its potential as a regional logistics hub, Mongla has yet to establish itself as a major trade gateway, largely because of poor navigability in the Pashur Channel and inadequate port facilities.

Under the project, the Mongla Port Authority (MPA) will build two modern container-handling jetties for the first time, along with container storage yards. The facilities are expected to increase the port’s annual container-handling capacity by around 400,000 twenty-foot equivalent units (TEUs).

The port handled 29,700 TEUs in fiscal year 2025-26, up 38 percent from the previous year, according to MPA data.The port currently has five bulk cargo-handling jetties, which are also used for container handling.

The shipping ministry said 49 pieces of modern equipment would be installed at the new facilities, which are expected to handle more than 30 containers an hour.

The MPA will also create facilities for hazardous cargo. Together with the extra container capacity, these measures are expected to raise annual cargo-handling capacity to 1.5 crore tonnes. The port handled 1.22 crore tonnes in FY26, up 18 percent on the year before, according to MPA data.

According to the shipping ministry, China is financing most of the project. It would provide around Tk 3,600 crore in loans through the Export-Import Bank of China, and Bangladesh would bear the rest.

The China International Development Cooperation Agency and the Economic Relations Division signed the agreement on June 25, during the prime minister’s visit to China. China Civil Engineering Construction Corporation (CCECC), a subsidiary of China Railway Construction Corporation (CRCC), will be the engineering, procurement and construction contractor.

A high-level Chinese delegation led by CRCC chairman Dai Hegen is due to meet the prime minister today. Talks are expected to cover infrastructure development, industrial investment, special economic zones and ways to expand bilateral investment cooperation.

Invest Bangladesh and CRCC are also expected to sign a memorandum of understanding on investment cooperation, which would open the way for Chinese investment in infrastructure and industry.

Separately from the China-financed project, the port authority is carrying out a five-year dredging programme in different sections of the Pashur Channel to maintain its navigability.

However, the port, roughly 100 kilometres north of the sea, has no scanner facility, which slows cargo clearance.

Talking to The Daily Star, MPA Chairman Rear Admiral Arif Ahmed Mustafa said the port would boost economic activity in the southern and northwestern parts of the country by providing logistics facilities for imports and exports.

He said the expanded facilities could strengthen Mongla’s position as an alternative gateway for the country’s international trade, particularly for businesses in the southwestern region.

However, attracting more cargo and shipping lines, improving road connectivity and ensuring year-round navigability would be crucial to securing returns on the investment, he added.

The port mainly handles cargo and imported used cars. It recorded an average turnaround time of 3.44 days in FY26 and the arrival of 12,000 cars, up 4 percent on the year before, according to MPA data.

Bangladesh and the Republic of Korea have agreed to further deepen their economic partnership, with greater emphasis on investment, advanced technology, AI, infrastructure, innovative financing and private-sector cooperation.Bangladesh

The commitment was reinforced on the second working day (Tuesday) of the official visit of the Bangladesh delegation to the Republic of Korea, led by Amir Khosru Mahmud Chowdhury, MP, Minister of Finance and Planning, through meetings with senior Korean officials, KEXIM, KIC, leading companies and technology institutions, reports BSS.

The Bangladesh side emphasised that Korea can play a central role in Bangladesh’s next phase of transformation, complementing development finance with investment, technology, industrial partnerships and institutional capital, said a press release issued today.

EDCF Cooperation and Priority Projects

At a meeting with Hwang Kiyeon, Chairman and CEO of KEXIM, the two sides reviewed the US$3 billion EDCF Framework Arrangement for 2023–2027 and discussed priority projects, including the Dhaka MRT Line-5 Southern Route, Matlab Uttar–Gazaria Bridge and 260 broad-gauge passenger carriages.

KEXIM noted that EDCF priorities are currently under review and indicated that project proposals would be considered in consultation with the relevant Korean authorities. Bangladesh proposed a clear roadmap for the remaining EDCF resources and highlighted emerging areas including AI, digital transformation, smart infrastructure and resilient supply chains.

Strategic Economic Dialogue

In a separate meeting with Chang Huh, 2nd Vice Minister, Ministry of Finance and Economy of the Republic of Korea, the Finance and Planning Minister called for taking Bangladesh–Korea relations to a broader and more strategic level.

Bangladesh highlighted opportunities in trade, investment, advanced manufacturing, energy, shipbuilding and digital technologies, and welcomed Korea’s ongoing technical support for the master planning of the ADB-supported Integrated Growth and Development (IGND) initiative.

The Finance and Planning Minister encouraged Korea to build on this engagement through broader participation in the initiative, including its financing and implementation.

The Korean side indicated readiness to continue discussions on AI, digital transformation, alternative financing, future EDCF cooperation and wider engagement in the IGND Mobilising Korean Institutional Investment.

Discussions with the Korea Investment Corporation (KIC) focused on mobilising institutional capital for infrastructure, renewable energy, digital infrastructure and other commercially viable opportunities in Bangladesh.

The proposed Bangladesh Sovereign Fund, with a potential size of US$1–2 billion, was discussed as one possible investment vehicle. The two sides also explored the potential for combining KIC equity investment with Korea Eximbank financing, including through Korean fund managers.

AI and Digital Transformation

AI emerged as a promising new area of Bangladesh–Korea cooperation, with Bangladesh’s AI agenda closely aligned with the Korean Government’s priority emphasis on AI and digital transformation.

During discussions with LG AI Research, the delegation explored cooperation on a culturally and linguistically relevant Bangladeshi Large Language Model (LLM) and AI applications in education, healthcare, manufacturing and public services.

Bangladesh also highlighted its ambition to develop as a regional AI and data-centre hub, while discussions with FuriosaAI focused on strengthening Bangladesh’s higher-value AI ecosystem. KEXIM expressed interest in exploring AI-embedded infrastructure projects.

Korean Private-Sector Investment

The delegation engaged Korean companies on opportunities in energy, LNG, renewable energy, shipbuilding, advanced manufacturing, urban development and infrastructure, with an emphasis on moving towards long-term investment and PPP partnerships.

In discussions with Samsung C&T, Bangladesh explored cooperation in infrastructure, renewable energy, urban development, tourism and PPP projects, including rooftop and utility-scale solar and selected urban development opportunities. Samsung C&T expressed interest in expanding from EPC contracting into longer-term investment, and both sides agreed to continue technical discussions on priority projects.

At a Korean investment business roundtable organised by Youngone, Bangladesh highlighted opportunities in light engineering and component manufacturing and encouraged Korean companies to pursue joint ventures, technology transfer and integration of Bangladeshi suppliers into Korean value chains.

Towards a Broader Economic Partnership

The discussions reflected a shared interest in evolving Bangladesh-Korea relations beyond traditional development cooperation towards a broader partnership based on trade, investment, technology and shared economic opportunities.

Bangladesh welcomed the growing interest of Korean Government institutions, financial organisations, businesses and technology companies and encouraged continued engagement in Bangladesh’s development and investment agenda.

Both sides agreed to continue consultations to translate the discussions into concrete projects, investment partnerships and mutually beneficial outcomes.

The European Union has spent four years building a regulatory architecture for sustainable textiles. It is the shift in market access Bangladesh’s RMG industry has faced since the Multi-Fiber Arrangement ended. The foundation is the EU Strategy for Sustainable and Circular Textiles, adopted in 2022: by 2030, every textile on the EU market should be durable, repairable, recyclable, made from recycled fibres, free of hazardous substances, and produced with respect for social rights. The Strategy is not binding law, but binding rules built on and alongside it are already in force.

The Carbon Border Adjustment Mechanism entered its definitive phase on January 1, 2026 and does not cover textiles. The Commission’s December 2025 proposal extends CBAM to roughly 180 downstream products from 2028, including fabricated metals, machinery, vehicles and appliances. Council and Parliament lists in trilogue exclude textiles, so the threat is not imminent. The Corporate Sustainability Reporting Directive and Corporate Sustainability Due Diligence Directive were narrowed by the EU Omnibus reform, in force since March 2026. CSRD now applies only to companies above 1,000 employees and €450 million turnover; CSDDD to those above 5,000 employees and €1.5 billion, with substantive duties deferred to July 2029. Far fewer EU buyers must now legally police supply chains. That relieves rather than removes pressure, since buyers in scope, and many who are not, will keep passing emissions data, supplier mapping and labour records downstream.

Traceability, chemical compliance and circular design are becoming prerequisites for EU market access. Manufacturers should not wait for buyers to ask
The Ecodesign for Sustainable Products Regulation is where urgency is greatest, though on a longer timeline than assumed. From July 19, 2026, large EU companies are banned from destroying unsold textiles and footwear; medium-sized firms follow from 2030, and small and micro enterprises are exempt. This would not touch Bangladeshi factories directly but will tighten buyer forecasting and shrink speculative orders, since overproduction can no longer be landfilled or incinerated. The bigger story is the Digital Product Passport. Its registry went live in July 2026, but the textile-specific delegated act, defining what data a passport must carry, is expected around the end of 2027, with application at least 18 months later. Realistic compliance lands around 2029. Direction matters more than the date: fibre composition, origin and recyclability will need to be recorded in verifiable digital form, accessible via QR code. This is a production systems challenge, not a customs formality. Factories that cannot generate batch-level material data would not meet passport requirements, and buyers will ask for proof well before any legal deadline. A few years sounds comfortable. It is not, for a factory starting from zero.

The revised Waste Framework Directive, in force since October 2025, mandates extended producer responsibility schemes for textiles, rolling out in 2027-2028. Eco-modulated fees will push brands towards recyclable design, making mono-material construction and recycled content real differentiators. The Empowering Consumers for the Green Transition Directive, applying from September 27, 2026, bans unsubstantiated environmental claims, so vague “eco-friendly” language would not survive scrutiny. Existing rules are tightening too: REACH Regulation 2023/2055 restricts synthetic polymer microparticles, with reporting live from May 2026 and wider supplier reporting from 2027, and rules on microfibre shedding from polyester and nylon are in development.

The message is consistent: traceability, chemical compliance and design for circularity are becoming prerequisites for EU market access. Bangladeshi manufacturers should not wait for buyers to ask. Our industry has time to prepare. It does not have time to wait.

Global stocks recovered on Wednesday from lows hit overnight, while the dollar dipped, after Democrats won control of both the Senate and the House in the US midterm elections, which has fuelled fears ​that rapid AI sector growth could be hamstrung by regulatory scrutiny.

In a major setback to President Donald Trump, Democrats scored sweeping victories in Republican strongholds for the first time in ‌generations.
The breadth of the party's success was underscored by gains in districts long considered safely conservative, highlighting a political shift that may have caught some investors off guard.

"Democrats pulled off a double victory in the US midterm elections that few saw coming at the onset of the year. The blue wave means the federal government is sure to be divided on most issues," Deborah Cunningham, chief investment officer, global liquidity markets at Federated Hermes, said.

"That typically creates a blockade ​against new legislation — an environment which broad financial markets traditionally view favourably as variables decrease."

Opinion polls have shown Democratic voters favouring more control over AI, and investors expect the Democratic-controlled Congress ​to apply more scrutiny to the sector.

AI stocks in Asia initially led the decline in equity markets, while bonds and safe-haven currencies such as the Swiss ⁠franc gained.

By the time the bulk of the midterm results had filtered through in the European day, equities had turned higher. MSCI's All-World index. was up 0.3%, while Europe's STOXX 600, which has ​acted as a hedge against AI-related risks, jumped 1.4% to two-month highs. US stock futures also , reversed course to rally around 1%, having fallen by as much as 2% overnight.

Shares in Elon Musk's Tesla and ​SpaceX , which he intends to merge, were down around 4.5% to 5% in premarket trading, compared with rises of 0.8% to nearly 3% for other Big Tech stocks.

"Overall, these results have had a mild impact on markets so far. Investors will move on from trading the uncertainty of the election results to trading the reality of what they mean for policy," XTB research director Kathleen Brooks said.

"This is bad news for Tesla and SpaceX on Wednesday, but the semiconductor ​names, the backbone of the AI trade, could brush off concerns about AI regulation and continue to move higher after Tuesday's stunning rally for the sector," she said.

The AI boom has helped propel ​global markets in recent years, driven by heavy spending from tech giants racing to build data centres and expand computing capacity. That has made investors acutely sensitive to anything that could derail the technology's rapid expansion.

The election outcome could ‌also hold broad ⁠implications for the US fiscal outlook as well as sectors such as defence, healthcare and banking.

Futures on the small-cap Russell 2000 index , which is more exposed to the US domestic economy, were last up 1.3%, having lost 1% earlier.

Assets with particular sensitivity to US foreign policies gained sharply. The Mexican peso strengthened, leaving the dollar down nearly 1%, while the Canadian dollar also forged higher, pushing its US counterpart down 0.3%. Emerging-market international debt also bounced. The price of Ukraine's international bonds hit its highest since September, while those issued by Egypt and Gulf sovereigns such as Saudi Arabia posted solid gains.

Meanwhile, defence stocks on both sides ​of the Atlantic fell, with Britain's BAE Systems ​down nearly 4%, Germany's Rheinmetall down 2% and ⁠US weapons makers Lockheed Martin, Northrop Grumman and RTX down 1.5% to 2.8%.

Investors flock to safe havens

Treasuries rallied as investors expect gridlock in Washington to cut government spending, with AI regulation also possibly slowing growth and reducing the need for rate hikes.

The yield on the benchmark US 10-year Treasury note was ​down 3 basis points on the day at 4.92%, having fallen as much as 6 bps to a low of 4.89% overnight, which, in ​turn, weighed on the dollar .

"Bonds ⁠are coming out as the clear winner as markets put the AI trade on the chopping block and embrace the higher possibility that further tax cuts are put on ice and government spending slows," Prashant Newnaha, senior rates strategist at TD Securities in Singapore, said.

In currencies, the dollar weakened broadly, leaving the euro up 0.5% at $1.125 and the pound up 0.5% at $1.349 .

The yen and the Swiss franc — both safe-haven currencies — also notched up ⁠gains. The Swiss ​franc was the standout performer, with the dollar down 0.6% against it at 0.8163 francs. The dollar also fell 0.4% ​against the Japanese yen to 158.12.

In the oil market, prices were choppy on Wednesday after they hit a four-week low in the previous session as investors weighed talks to end the wars in Ukraine and Iran against worries that recent attacks in ​both conflicts could further disrupt supplies. Brent crude was down 0.4% on the day at $103.17 a barrel.

Bangladesh Bank has sold $120 million from the country's foreign exchange reserves to commercial banks through an auction, as demand for the US dollar remains high amid increased pressure from government letter of credit (LC) payments.

The central bank sold the dollars today (4 November) at rates ranging from Tk124.30 to Tk124.35 per dollar.

It initially offered $100 million through the auction but increased the amount by another $20 million in response to higher demand from banks.

On 3 November, Bangladesh Bank also called an auction to sell $100 million. However, it later withdrew the offer as the exchange rate rose, according to sources.

Bankers said the dollar rate had increased amid stronger demand for foreign currency to settle government LC payments in October.

Bangladesh Bank (BB) has severed the online payment gateway DGePay from the National Payment Switch Bangladesh (NPSB) following an inspection that flagged security breaches, including server access from India.Bangladesh Investment Guide
Central Bank Executive Director and Spokesperson Arief Hossain Khan told reporters that safeguarding citizen data confidentiality is a top priority, noting that operating critical financial infrastructure from outside the country poses a direct security threat.

DGePay Managing Director and CEO Rashed Mahmud acknowledged that the disconnection took effect on October 29, though he learned of it on November 1.

He explained that the central bank raised concerns over staffing—such as lacking a dedicated database administrator—and development work managed by an India-based team.

Rashed defended the setup, stating that foreign developers were granted access solely for development purposes and that no security breaches have occurred.

He added that discussions with the central bank were ongoing to resolve the compliance issues.

Licensed as a Payment System Operator (PSO) in August 2023, DGePay functions as a white-label merchant acquirer under Dipon Group, serving 600 to 1,000 merchants.

Bangladesh Bank has relaxed rules allowing companies to issue preference shares to non-resident Bangladeshis without BB’s approval if dividends paid by the companies do not exceed 5 per cent.

The revised rules also simplify procedures for redeeming preference shares and converting them into ordinary shares, potentially making it easier for local companies to mobilise foreign investment.

The central bank issued a circular on Tuesday, outlining the responsibilities of issuing companies, non-resident investors and authorised dealer (AD) banks involved in such transactions.

Issuing companies will have to submit a report to the central bank's Foreign Exchange Investment Department after issuing the shares, ensuring regulatory oversight of the transactions.

The circular has also waived the requirement for approval before the repatriation of dividends to non-resident preference shareholders.

Similarly, companies will be able to redeem preference shares held by non-resident investors without seeking prior approval from the central bank, simplifying the process of returning invested capital to overseas shareholders.

Preference shares generally carry specified dividend rights and may offer priority over ordinary shares in receiving dividends and repayment of capital. Depending on their terms, they may also be convertible into ordinary shares or redeemable after a specified period.

The latest regulatory relaxation is expected to broaden financing options for Bangladeshi companies by facilitating access to overseas capital and reducing procedural complexities in foreign investment transactions.

Leading banks and financial institutions have been increasingly choosing trusted asset management companies (AMCs) to manage their capital market portfolios, so they can tap into professional services at a low cost.

Talking to the FE, several lenders said they had secured a good return on investment through asset managers even when the overall secondary market suffered value erosion.

For example, BRAC Bank's return from its market investments was 0.05 per cent in 2025, when the DSEX, the broad index of the Dhaka Stock Exchange, fell 6.7 per cent. That means the bank did not experience any erosion in its portfolio amid a moderate fall in the capital market.

In 2024, BRAC Bank's return was 6.03 per cent even though the DSEX experienced a steep fall of 16.5 per cent during the year.

Industry insiders emphasise the large-scale deployment of AMCs in portfolio or fund management, as they can use their expertise to read the market better and allocate resources accordingly.

However, professional asset management is met with scepticism following scams and fund embezzlement by a handful of fund managers.

Talking to the FE, a senior official of BRAC Bank said the lender's internal workforce had limited knowledge of the market.

"A fund manager is likely to have a better understanding of the secondary market than bank officials. That's why we have chosen a professional fund manager to make decisions for investments and execute them on behalf of the bank," said the official, who preferred anonymity.

He elaborated that the bank had engaged VIPB Asset Management to handle its portfolio after incurring heavy losses.

The portfolios of Mutual Trust Bank, United Commercial Bank (UCB), and Midland Bank are also managed by AMCs.

Of the leading non-banking financial institutions, IDLC Finance and DBH Finance also have their market investments looked after by asset managers.

Several of these companies have subsidiaries that provide brokerage services to clients, but they preferred AMCs over brokerage firms.

Apart from banks and NBFIs, many companies outside the financial sector have started maintaining their investment portfolios with support from AMCs.

Representatives of these organisations said asset managers had been picked based on their performance, and that those who had secured higher returns than those of fixed income securities were chosen.

VIPB Fixed Income Fund, managed by VIPB Asset Management, reported an annualised return of 19.76 per cent since inception in September 2024, while VIPB SEBL 1st Unit Fund secured an average annual gain of 10.88 per cent since 2011.

The chief executive officer (CEO) and managing director of VIPB Asset Management, Shahidul Islam, said making the right investment decisions was a fund manager's specialisation.

Besides, management of a company's portfolio by its own team is more expensive.

"Apart from avoiding irrational investment decisions, companies, including banks, can get their portfolios managed cost-effectively by AMCs," Mr Islam said.

He noted that the returns of funds managed by his firm had been much higher than the rise in the index over the past 16 years.

Arif Khan, vice-president of Shanta Asset Management, said, "The trend of managing portfolios by AMCs will rise day by day."

Apart from its own open-ended funds, Shanta Asset Management manages the portfolios of some textile and IT companies.

IDLC Finance handed over responsibility for managing its portfolio to its subsidiary, IDLC AMC, after the latter was launched. IDLC AMC also manages the portfolio of MetLife.

On the role of asset managers, Syed Javed Noor, additional managing director of IDLC Finance, said AMCs run their own analyses and track the market daily. "That makes the difference."

The chairman of the Bangladesh Securities and Exchange Commission (BSEC), Masud Khan, hailed the companies' decision to manage investments through AMCs with good track records.

He said banks could avoid irrational erosion in their investment portfolios by appointing fund managers. That way, the institutions could also expand their exposure to the capital market.

The BSEC chief added that the regulator would create awareness among banks and other companies to increase investments in mutual funds alongside maintaining portfolios through fund managers.

Country's listed textile companies faced mounting pressure on profitability in FY26 as energy shortages, rising production costs, and liquidity constraints squeezed margins, with more than half of the firms reporting lower earnings or losses.

According to the Dhaka Stock Exchange (DSE) data, of the 58 textile companies listed on the stock market, 37 have disclosed their financial results and dividend decisions for FY26. Twelve companies reported profit growth, while 13 saw earnings decline and another 12 remained in the red.

The pressure on earnings was also reflected in dividend declarations. Thirteen companies reduced their cash dividends compared with the previous year, seven announced no dividend, and nine kept payouts unchanged. Only seven companies declared higher dividends.

The results show a mixed picture across the sector. While a handful of companies managed to improve earnings, several established manufacturers reported substantial declines or slipped into losses.

Square Textile's profit fell 38% to Tk88.70 crore in FY26 from Tk142.80 crore a year earlier. Envoy Textile, one of the sector's largest listed players, posted a marginal 1.42% decline to Tk138 crore, despite raising its cash dividend to 32.5% from 30%.

Malek Spinning's profit dropped 6% to Tk134 crore, while Argon Denim recorded a 31% decline to Tk16 crore. Shasha Denim's earnings fell 34% to Tk14.50 crore, and Tamijuddin Textile reported a 30% fall to Tk14.10 crore.

Among the gainers, Matin Spinning increased its profit by 35% to Tk62 crore and declared a 45% cash dividend alongside a 10% stock dividend, compared with a 35% cash dividend in FY25. Rahim Textile's earnings rose 133% to Tk2.80 crore, while Queen South Textile posted 40% growth to Tk4.20 crore.

However, the number of loss-making companies highlights the depth of the sector's challenges. Sharp Industries reported a loss of Tk72.50 crore after making a profit of Tk3.30 crore in the previous year. Esquire Knit moved from a profit of Tk5.90 crore to a loss of Tk36 crore, while Fareast Knitting swung from a profit of Tk37.40 crore to a loss of Tk14.60 crore.

Industry insiders said energy shortages and rising utility costs remained among the biggest threats to textile manufacturers. Unreliable gas and electricity supplies have forced some factories to operate below capacity or depend on costly diesel generators, increasing production expenses.

At the same time, higher prices of imported cotton, synthetic yarn and chemicals, coupled with increased local energy tariffs, have narrowed operating margins.

Factory closures and work stoppages disrupt production schedules and shipment deadlines, sometimes forcing exporters to use expensive air freight to meet buyers' delivery requirements, they said.

The industry is also facing a liquidity crunch. High borrowing costs and delays in opening letters of credit have made it harder for manufacturers to import raw materials on time. Smaller and mid-sized suppliers are particularly vulnerable because delayed payments from international buyers tie up working capital.

Weak demand in major Western markets, geopolitical uncertainty and cautious inventory management by international retailers have added to the pressure on export-oriented manufacturers.

The sector's stock market profile also reflects the difficulties faced by many companies. Fourteen textile firms are in the A category, 14 in the B category and 26 in the Z category. Fourteen companies are reported to be out of operation.

The sector's total market capitalisation stood at Tk14,421 crore, accounting for just 4.35% of the Dhaka Stock Exchange's total equity market.

Despite the weak financial results and operational challenges, textile stocks have recently attracted investor interest. The sector accounted for the largest share of DSE turnover in recent weeks, while its stocks delivered positive returns over three consecutive trading sessions.

Textile shares gained around 2% today (4 November) following a 1.5% rise on Tuesday and a 0.7% increase on Monday.

Bangladesh's foreign exchange reserves stood at US$36.38 billion, according to the latest data released by Bangladesh Bank (BB) on Wednesday.

Reserves calculated under the IMF's BPM6 methodology stood at US$31.52 billion, reports BSS.

Gold prices rose over 2 percent on Wednesday, bolstered by a weaker US dollar after Democrats seized control of both the Senate and House in US midterm elections, while investors await non-farm payrolls data for clues to the Federal Reserve’s policy path.

Spot gold climbed 2.4 percent to $4,021.68 per ounce by 0718 GMT, while US gold futures for December delivery rose 2.3 percent to $4,031.20.
We’ve seen gold benefit from the fact that yields and the dollar have dropped, and that’s because of this opinion that the gridlock that could emerge between the executive and the legislature in the US now could slow the amount of spending in the US, said Kyle Rodda, senior financial market analyst at Capital.com.

Global stocks slumped, and the dollar hit a one-month low on Wednesday as Democrats scored a decisive win in the US midterm elections, fuelling fears the Democratic sweep could disrupt the data-centre buildout that has powered the AI trade and hurt tech spending. A softer dollar makes greenback-priced bullion more affordable for buyers overseas.

Additionally, the demand for protection against a potentially more unpredictable and confrontational Trump administration looks to be providing a compelling backdrop for gold buyers, said Chris Weston, head of research at Pepperstone.

On the geopolitical front, Iran and the United States are still far from a deal to end their war, a senior Iranian official told Reuters on Tuesday, as US President Trump declined to rule out resuming US combat operations after the elections.

Markets now await the US non-farm payrolls report due on Friday. India’s gold demand is expected to fall to a six-year low in 2026, as elevated prices weigh on jewellery sales and investment demand moderates, the World Gold Council said on Tuesday. Among other metals, spot silver gained 4 percent to $51.74, platinum rose 2.5 percent to $1,451.95 and palladium climbed 4.2 percent to $972.74.