AkijBashir Group has become the first Bangladeshi company to join RE100, the global corporate renewable electricity initiative led by Climate Group.

According to a press release issued today (4 September), the group is reinforcing its transition toward 100% renewable electricity across its operations, placing renewable energy at the core of its long-term strategy for responsible industrial growth.

Sk Bashir Uddin, managing director of the group, said, "Joining RE100 is more than a renewable energy commitment for AkijBashir Group; it is a step towards transforming how we power our business and build sustainable growth."

"As the first company from Bangladesh to join this global initiative, we are proud to take a pioneering step towards 100% renewable electricity. We believe the future of business must be built on both growth and responsibility," he said.

"Through this commitment, we aim to contribute to Bangladesh's transition towards a cleaner and more resilient energy future, while inspiring other businesses and industries to accelerate their journey towards renewable energy. Together, we can create lasting value for our business, our people, and Bangladesh," he added.

What RE100 means for AkijBashir Group

RE100 is the world's leading corporate renewable electricity initiative, bringing together more than 400 businesses globally that have committed to using 100% renewable electricity by 2050 at the latest.

Members report progress annually, while renewable electricity claims are reviewed against RE100's technical criteria. The initiative also provides access to peer learning, renewable-energy expertise, policy engagement and international best practice.

For AkijBashir Group, RE100 provides a globally recognised framework to make its renewable-energy journey more structured, measurable and transparent.

It can help the group strengthen accountability around renewable electricity sourcing, benchmark progress against international practice and reinforce credibility with global customers and partners.

Household budgets are facing another squeeze. Barely two weeks after transport fuel prices rose, the cost of cooking gas has jumped, with the price of a 12kg LPG cylinder rising by Tk 252 to Tk 1,837 yesterday.
Meanwhile, many households are already paying much more than the regulated rate amid a supply crunch.
The new price took effect at 6:00pm, but finding a cylinder at the official rate has become increasingly difficult. Of 10 retailers contacted by The Daily Star in the capital, eight said they had not received any cylinders since September 20-22.

The two retailers who had cylinders said they had only one brand each. One was selling a 12kg Jamuna cylinder for Tk 1,900, while another was asking Tk 2,250 for a United Aygaz cylinder.

That means consumers could be paying up to Tk 413 more than the newly fixed price.

Reduced supply drives up LPG cylinder prices

Reduced supply drives up LPG cylinder prices
The situation was similar even before yesterday’s hike. On September 30, The Daily Star found 12kg cylinders being sold for Tk 2,000-2,200 when the regulated price was Tk 1,585.

On September 21, transport fuel prices were raised by Tk 20 a litre across the board, adding another burden on households already facing higher everyday expenses.

The latest LPG hike comes just three months after the price fell by Tk 357 to Tk 1,528 in July, the lowest since the supply crunch began on the international market. Since then, the official price has increased by Tk 309.

The Bangladesh Energy Regulatory Commission (BERC) attributed yesterday’s increase to higher international prices of propane and butane, the two main components of LPG, as well as higher shipping costs.

The average import cost of propane and butane has risen to $712 per tonne from $593 in July. Shipping costs, including premiums, have also increased to $250 per tonne from $160, according to BERC.

LPG supply in the local market has reportedly fallen since mid-September, with retailers saying importers and wholesalers have reduced supplies.

The shortage is particularly significant for households, which account for around 80 percent of Bangladesh’s LPG consumption. Restaurants and tea stalls also rely heavily on LPG cylinders.

Despite the reported shortage, Bangladesh imported 1.58 lakh tonnes of LPG last month, almost unchanged from 1.57 lakh tonnes in August.

BERC Chairman Jalal Ahmed said the import figures did not indicate a supply problem at the import level.

Industry sources, however, said some operators had reduced market releases while waiting for BERC to raise the regulated price, creating an artificial shortage.

The shortage and price gap have already affected consumption.

When LPG reached Tk 1,940 in May, one distributor told The Daily Star that his daily sales had fallen from around 60 cylinders to 35.

Industry estimates put monthly demand at around 1.3 lakh tonnes, down from about 1.5 lakh tonnes earlier, with some households switching to induction and infrared cookers.

BERC reviews LPG prices in the first week of every month based on global prices and import-related costs.

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Before the latest global price pressures, the regulated price stood at Tk 1,306 per 12kg cylinder in January. It rose by Tk 387 and Tk 212 in April and May respectively as international LPG prices increased.

Prof M Shamsul Alam, energy adviser to the Consumers Association of Bangladesh, said BERC never properly examines shipping costs and simply accepts businesses’ proposals.

“If international LPG prices and shipping costs increase, there is no question that prices may have to rise. The question is: by how much, and how will that increase be determined?” he said.

Shamsul said the law requires prices to be set after a public hearing, which BERC has ignored. The regulator has also failed to enforce its own orders and ensure competition among importers, he added.

“With the latest adjustment, BERC has again shown it is protecting unscrupulous businesses and keeping LPG licence holders beyond accountability,” he said.

Opposition Jamaat-e-Islami Secretary General Mia Golam Porwar yesterday condemned the price hike, calling for its immediate withdrawal.

Alleging that syndicates were controlling the market, he said, “Money will end up in the pockets of ministers, leaders, their sons and daughters, relatives, friends and associates.

“Prices will be raised here, mega projects will be awarded there -- all kinds of arrangements are being made to generate income.”

Finance Minister Amir Khosru Mahmud Chowdhury on Sunday said the face of Bangladesh’s capital market will change completely within the next year, with the market becoming far stronger.

“If there is no accident and the capital market keeps running the way it is now, a huge positive change will come in the market within the next year,” Khosru said at World Investor Week 2026, organised by the Bangladesh Securities and Exchange Commission (BSEC) at Khamarbari in the capital.

The minister said the capital market is in a much better position than in the past and investors are regaining confidence.

He added that many large foreign companies have also shown interest in investing in Bangladesh’s stock market.

“I was not confident about how I could approach big foreign companies with the capital market in this state. But when I talked to them, they expressed interest. They are constantly keeping track of Bangladesh. They trust the current leadership of Bangladesh. They will come to the Bangladesh market soon,” he said.

Urging everyone to stop dwelling on past events in the capital market and move forward, Khosru said, “If we want integrity and transparency, we must become self-regulated. Every institution, including brokers, exchanges, investors and financial entities, must play the role of a self-regulator. I do not believe in regulatory bodies.”

Stressing the need to bring the capital market into the broader economic ecosystem, he said the NBR, Bangladesh Bank and the capital market had so far worked like isolated islands. “Now we have built an ecosystem where everyone will work together.”

The minister also warned that businesses relying on high-interest bank loans will not survive competition.

He said the government and private institutions alike tend to borrow from banks at high interest rates at the slightest need, an approach that cannot sustain businesses in the global market.

“Money must be raised from the market, and the best avenue for that is the capital market. We are also working to strengthen the bond market,” he said.

Khosru said Bangladesh can never become a trillion-dollar economy by 2034 by borrowing from the International Monetary Fund (IMF) and the World Bank.

“I have cancelled my meeting with the IMF. I have told them plainly that the government is not bound to accept their conditions. We need $50 billion every year. How much will the IMF give us? And then we would have to accept conditions again. All that is out from now on. We will raise money from the market and do business,” he said.

Saying the government will not finance the business needs of state enterprises, the minister said, “Why should the government pay to buy aircraft? It cannot be that the government provides taxpayers’ money and enterprises do business with it.”

He said the country’s financial architecture is being overhauled and the economy will become market-based in the days ahead.

The depth of the shallow capital market will be increased to make the economy more market-oriented, he added.

OPEC+ agreed to keep oil production ‌targets steady for November at a meeting today (4 October), the producer group said, in line with expectations that further output policy adjustments are unlikely until next year.

Seven core members of the group comprising the Organization of the Petroleum Exporting ​Countries and allies including Russia made the decision for November in a brief online meeting ​on Sunday (4 October). The core members are Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and ⁠Oman.

Gulf OPEC+ producers have been pumping well below output targets in the face of continuing export ​disruptions from the US-Israeli war on Iran, with exports fluctuating at 60% to 80% of normal levels in recent ​months.

"The OPEC+ group of seven kept their production ceilings unchanged, in line with market expectations. That said, despite rising flows through the Strait of Hormuz, their output levels remain well below quota," said UBS analyst Giovanni Staunovo.

"Consequently, the oil ​market remains tight."

Oil prices had dropped on Friday after European leaders agreed to US President Donald Trump's ​request to release diesel reserves. Even so, Brent crude remains above $100 a barrel, up from about $73 before the Iran ‌war started ⁠in late February.

Output hikes have been largely on paper this year

The Iran war has also delayed the group's output capacity review — crucial to determine members' 2027 output quotas — because it has thrown estimates of future production potential into uncertainty, industry sources told Reuters last week.

OPEC+ has been raising output targets for much ​of 2026 after years of ​production cuts, but most ⁠of the increases stayed on paper because of the Middle East conflict.

The seven core OPEC+ members pumped 25 million barrels per day in August, up ​630,000 bpd from July, yet still roughly 5 million bpd below prewar levels ​in February, ⁠OPEC data shows.

The seven hold their next meeting on 1 November.

OPEC+ still has about 2 million bpd of output cuts in place covering most members. It needs the result of the capacity review to decide how ⁠to distribute ​increases and any changes to output are unlikely before 2027, sources ​have said.

A separate OPEC+ ministerial group called the Joint Ministerial Monitoring Committee (JMMC), which does not decide policy, also met on Sunday ​to review the market.

Foreign investors’ participation in Bangladesh’s capital market is increasing amid reform initiatives and efforts to simplify investment procedures, with their total transactions rising 37.6 percent in the first eight months of this year compared to the same period last year.

The total value of foreign investors’ transactions from January to August this year reached Tk 3,701.29 crore, compared to Tk 2,687.39 crore during the corresponding period in 2025, according to data from the Dhaka Stock Exchange (DSE).

The transactions increased by around Tk 1,013.90 crore year-on-year. Moreover, the volume of foreign transactions during the first eight months of 2026 reached nearly 94 percent of the total transactions recorded throughout 2025.

Market insiders attribute the rise in foreign participation to a range of reform initiatives, including preparations to upgrade Bangladesh’s capital market from frontier market status to emerging market status, engagement with international index providers, simplification of procedures for foreign investors and efforts to shorten the settlement cycle.

DSE Managing Director Nuzhat Anwar told BSS on Saturday that the increase in foreign transactions was not attributable to any single initiative by the DSE.

“Preparations to upgrade the market from frontier to emerging market status, engagement with organisations such as MSCI, simplification of Bangladesh Bank’s rules relating to Non-resident Investors’ Taka Accounts (NITAs), and the initiative to introduce a T+1 settlement system have collectively sent positive signals to foreign investors,” she said.

She said a procedural complication concerning NITAs, which are used by foreign portfolio investors to invest in Bangladesh, had recently been eased by Bangladesh Bank.

Previously, the accounting of funds through NITA accounts had to be handled separately for individual transactions. Following the DSE’s communication with the relevant authorities, Bangladesh Bank simplified the procedure.

Under the revised arrangement, foreign investors can complete the necessary accounting when repatriating funds from Bangladesh instead of undertaking separate calculations for every transaction. The change is expected to make the investment process more convenient for foreign investors.

The proposed transition to a T+1 settlement system has also sent a positive signal to international investors, Anwar said.

She added that the DSE was working to ensure professional market management, transparency and accountability while maintaining regular communication with foreign investors. The combined impact of these initiatives is contributing to increased foreign participation, she noted.

DSE data show that foreign transactions fluctuated considerably during the first eight months of 2026, although the overall volume remained significantly higher than that of the corresponding period last year.

Foreign transactions stood at Tk 377.24 crore in January and rose to Tk 663.28 crore in February. The figure subsequently declined to Tk 272.04 crore in March and Tk 175.16 crore in April.

Transactions surged in May to Tk 831.70 crore, the highest monthly figure recorded during the first eight months of this year.

Foreign transactions amounted to Tk 540.17 crore in June and Tk 523.15 crore in July before declining to Tk 318.57 crore in August.

In comparison, foreign investors’ transactions totalled Tk 2,687.39 crore during the first eight months of 2025.

Monthly transactions that year stood at Tk 181.81 crore in January, Tk 264.14 crore in February and Tk 171.96 crore in March.

The volume increased to Tk 426.94 crore in April and peaked at Tk 506.74 crore in May. Transactions then declined to Tk 285.31 crore in June before rising to Tk 491.44 crore in July and falling to Tk 371.56 crore in August.

For the whole of 2025, foreign investors’ total transactions amounted to Tk 3,920.42 crore.

Against that backdrop, the Tk 3,701.29 crore recorded in the first eight months of 2026 indicates that foreign transactions have already reached nearly 94 percent of last year’s full-year total.

Consumers are growing worried over the latest LPG price hike as shortages persist across the country, with 12-kg cylinders being sold for Tk2,200 to Tk2,500 in areas where gas is available, far above the newly announced official price of Tk1,837.

Bangladesh Energy Regulatory Commission (BERC) on Sunday announced a fresh hike in Liquefied Petroleum Gas (LPG) prices at the consumer level, raising the rate of a 12-kilogram cylinder by Tk252 to Tk1,837.

However, field reports indicate that consumers across the country are already trapped in a chaotic retail market where 12-kg cylinders are selling for between Tk2,200 and Tk2,600—up to Tk1,000 above government-fixed benchmarks—while many retail outlets have run completely out of stock.

While state-owned LP Gas Limited (LPGL) maintains a price of Tk777 for its 12.5-kg cylinder, its negligible market share leaves over 98 percent of the country's bottled gas consumers entirely dependent on private distributors.

High-level meetings and govt crackdown

The price hike comes just a day after Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood Tuku and Commerce Minister Khandaker Abdul Muktadir held an urgent meeting with LPG importers at Secretariat on Saturday to address the deteriorating market situation.

12kg LPG cylinder price rises by Tk252 to Tk1,837
The high-level intervention follows the Energy Minister's September 30 directive to Deputy Commissioners (DCs) to investigate whether an artificial crisis is being engineered by market syndicates and to take strict legal action against price gougers.

Pipeline gas deficit fueling LPG demand

Industry insiders and energy experts attribute the unprecedented supply strain to a severe shortfall in national pipeline natural gas.

According to Petrobangla, against a nationwide demand of nearly 4,000 million cubic feet per day (MMCFD), current domestic extraction and LNG regasification deliver only around 2,600 MMCFD.

The resulting power cuts and pipeline gas shortages have forced thousands of households, commercial eateries, and small industries to shift to bottled LPG, creating a demand surge that existing private distribution networks are struggling to meet.

Global shipping & freight surge

Compounding local issues, private importers cite mounting international headwinds.

For September, Saudi Aramco raised its Contract Price (Saudi CP) to $625 per tonne for propane and $660 per tonne for butane.

More critically, global LPG availability has tightened due to Middle East geopolitical conflicts, driving ocean freight rates to record highs.

Importers said while BERC calculated retail prices using a freight benchmark of $160 per tonne, actual international shipping costs have surged to $400 per tonne, forcing several private operators to curtail import volumes to prevent heavy financial losses.

Blame game over import data

The market crisis has also triggered internal friction within the LPG sector.

Official reports indicate that LPG imports dropped from nearly 160,000 tonnes in August to around 120,000 tonnes in September.

However, a group of LPG operators submitted a formal letter to the Energy Division on October 1 claiming import volumes remained steady.

They alleged that certain major importers deliberately delayed offloading and releasing imported LPG cargoes to generate artificial market pressure and inflate prices, demanding an independent inquiry into the bottleneck.

With winter approaching—a season that traditionally sees a seasonal uptick in global heating fuel demand—consumers and industry stakeholders warn that without strict market monitoring and streamlined import support, Bangladesh's LPG market could face even deeper instability in the coming months.

Experts denounce BERC's 'regulatory failure'

Denouncing the price hike, Consumers Association of Bangladesh (CAB) Energy Adviser Prof. M. Shamsul Alam termed BERC's decision a "validation of illegal market manipulation."

He said the raising official prices while failing to enforce retail compliance only shields dishonest syndicates without ensuring gas availability for ordinary citizens.

Energy expert and former BUET professor Dr. Ijaz Hossain highlighted the policy oversight behind the crisis, emphasising that shifting the nation's energy demand from depleted domestic pipeline gas to imported LPG without expanding state-owned buffer stocks or establishing a price stabilisation fund leaves consumers at the mercy of private cartels and volatile global freight markets.

Biman Bangladesh Airlines is set to sign a multibillion-dollar agreement with European aircraft manufacturer Airbus on Wednesday to acquire 10 new aircraft – days after signing a deal for ​11 additional Boeing jets – as the government pushes ahead with plans to expand the national carrier's ​fleet, according to sources familiar with the development.

The signing ceremony is scheduled to take place at a city hotel on Wednesday evening and is expected to mark a major step in Biman's fleet expansion and modernisation plans, the sources told The Business Standard today (4 OCtober).

Biman and Airbus have reached a consensus on several outstanding issues following a series of negotiations, leaving no major matters unresolved between the two sides, they said.

The proposed package comprises four Airbus A350-900 widebody aircraft and six A321neo narrowbody jets, which are intended to support Biman's future long-haul and regional network expansion.

Civil Aviation and Tourism Minister M Rashiduzzaman Millat had earlier confirmed that Bangladesh would acquire 10 Airbus aircraft and said an agreement was expected to be signed in October.

"Yes, we are buying 10 Airbus aircraft. Inshallah, the agreement will be signed in October," the minister recently told journalists at the Secretariat.

The upcoming signing with Airbus would mark the conclusion of months of evaluation and negotiations over Biman's Airbus procurement, coming shortly after the national flag carrier expanded its Boeing acquisition programme to 25 aircraft.

The Airbus deal, together with two Boeing agreements, would take Biman's planned new-aircraft pipeline to 35 aircraft, including 19 widebody and 16 narrowbody jets.

The latest Airbus package is expected to be worth more than $2 billion, according to sources.

Boeing fleet expansion

Biman's latest Boeing agreement was signed in New York on 23 September under a "Right to Purchase Additional Aircraft" provision included in the 14-aircraft purchase agreement signed on 30 April.

The supplementary agreement covers five Boeing 787-10 Dreamliner widebody aircraft and six Boeing 737-8 MAX narrowbody aircraft. The 11 aircraft will cost about $2.7 billion, based on the same pricing agreed under the April contract, Civil Aviation and Tourism Minister M Rashiduzzaman Millat said during a question-and-answer session with journalists.

The 30 April agreement covered the purchase of 14 Boeing aircraft worth $3.7 billion.

Together, the two Boeing agreements cover 25 aircraft, 15 widebody jets, comprising two 787-9s and 13 787-10s, and 10 737-8 MAX narrowbody aircraft.

Under the contracts, the first Boeing aircraft is scheduled for delivery in November 2031, with the final aircraft expected to be delivered by 2035.

However, Biman has requested Boeing to deliver at least one aircraft earlier, possibly in 2027 or 2028, the minister said.

With the planned Airbus purchase, Biman is set to undertake one of the largest fleet expansion programmes in its history, with the 35 new aircraft expected to significantly increase its capacity for both long-haul and regional operations.

Dhaka stocks opened the week on a downbeat note for a second consecutive session as risk aversion gripped investors, pushing benchmark indices sharply down on both bourses amid caution over ongoing fiscal year-end earnings disclosures and broader economic headwinds.

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) surrendered 48 points, or 0.89%, to settle at 5,482 points. The blue-chip DS30 index followed suit, slipping 18 points, or 0.87%, to close at 2,085 points.

Market capitalisation on the premier bourse witnessed a significant contraction of Tk7,700 crore, while daily trading turnover plunged by 25% to Tk542 crore.

Market breadth deteriorated heavily across the floor, with 291 issues declining against 66 advancing, while 28 scrips remained unchanged.

In its daily review, EBL Securities noted that trading commenced on a dismal note as persistent selling pressure dominated from the opening bell. Although the market briefly recovered after the initial plunge, sustained selling pressure kept most scrips in negative territory throughout the session.

Brokerage firms attributed the weakness to two key factors.

Sheltech Brokerage Limited said in its daily commentary that investor sentiment was weighed down by caution over the fiscal year-end earnings and dividend announcements of June year-end companies, alongside growing concerns about a recessionary macroeconomic outlook. Unrelenting sell-offs dragged the benchmark index to an intraday low of 5,482 points, where it closed.

Market analysts observe that near-term market direction will depend largely on upcoming earnings disclosures, regulatory measures by the Bangladesh Securities and Exchange Commission (BSEC) to improve liquidity, and developments in regional economic stability.

Major banking and pharmaceutical stocks led the market decline, with BRAC Bank, Beximco Pharmaceuticals, National Bank, Islami Bank and Pubali Bank weighing heavily on the index.

Sector-wise, losses were broad-based. Ceramics posted the steepest decline at 2.3%, followed by IT at 2.1% and Mutual Funds at 1.9%. Jute bucked the trend, gaining 3.5%, while Non-Bank Financial Institutions rose 2.3% and Paper edged up 0.3%.

Despite the broader market contraction, trading remained concentrated in a few sectors. Textiles accounted for the largest share of turnover at 28.1%, followed by general insurance at 14.9% and pharmaceuticals at 10.3%.

The day's most actively traded stocks included Saiham Textile, Paramount Textile, Malek Spinning, Dominage Steel, and Sonali Life Insurance.

In the individual price charts, Investment Corporation of Bangladesh (ICB) led the gainers' list with a 9.92% surge, followed by Bangladesh Lamps with 8.72%, Sonar Bangla Insurance with 7.67%, Sonali Life Insurance with 7.16%, and Nurani Dyeing gaining 7.14%.

On the losing side, Saif Powertec registered the highest drop of 9.21%, followed by Information Services Network at 8.52%, Bangladesh Industrial Finance Company (BIFC) at 6.06%, National Bank at 5.88%, and Peoples Leasing declining by 5.55%.

A similar bearish trend played out on the port city bourse. The Chittagong Stock Exchange (CSE) ended significantly lower, with its CSCX index falling 96 points to close at 9,004, while the broader CASPI index plummeted 171 points to settle at 14,660.

South Asian countries need stronger regional partnerships in energy, trade and investment to cushion the impact of geopolitical tensions and disruptions to global supply chains, experts and business leaders said yesterday (4 October).

They said the US-China trade war, Israel-Iran conflict, Russia-Ukraine war and weakened capacity of the World Trade Organization (WTO) have pushed global trade to a critical juncture, making regional cooperation increasingly important.

The disruptions have also exposed South Asian countries to energy supply risks and higher import costs, they said.

"We can build a regional power hub involving Bangladesh, India, Nepal and Bhutan so that we can face global disruptions in trade," said Dibya Mani Rajbhandari, a former member of parliament of Nepal.

He was speaking at a roundtable titled "Rewiring Global Trade", held on the sidelines of the three-day Bay of Bengal Conversation 2026, organised by the Centre for Governance Studies (CGS) at Pan Pacific Sonargaon Hotel in Dhaka.

Rajbhandari also called for greater cooperation among South Asian countries in trade and investment to mitigate the impact of geopolitical tensions.

The session was moderated by Suthikorn Kingkaew, adviser to the KBU Research Institute of Thailand.

Calls to revive regional cooperation

Showkat Aziz Russell, president of the Bangladesh Textile Mills Association (BTMA), called for reviving the activities of the South Asian Association for Regional Cooperation (SAARC) to strengthen regional cooperation in trade, investment and energy.

"Trade in the SAARC region should be a win-win situation so that all countries can benefit equally," he said, adding that a lack of warm relations among member states has constrained the region's potential.

Anwar-ul Alam Chowdhury (Parvez), president of the Bangladesh Chamber of Industries, said Bangladesh has an opportunity to expand trade following the signing of a trade agreement with the United States.

However, he warned that Bangladesh could struggle to fully benefit from the agreement if the US imposes restrictions on the use of Chinese-imported inputs.

"Bangladesh should sign trade agreements with different major trading partners," he said.

Diversification requires greater capacity

Nicolas Weeks, ambassador of Sweden to Bangladesh, said Bangladesh has significant potential in renewable energy, while Sweden and the European Union can contribute technology to support the country's transition.

He also stressed the need to diversify Bangladesh's export base beyond the garment sector.

"The EU can very much be a part of the journey that Bangladesh goes towards diversification of export," he said, stressing the importance of reducing excessive dependence on a single sector.

Weeks said around 44% of Bangladesh's exports go to the European Union, with Sweden accounting for a significant share indirectly through garment companies such as H&M and IKEA.

Smruti S Pattanaik, research fellow at India's Manohar Parrikar Institute for Defence Studies and Analysis, said industrial diversification could not happen overnight.

South Asian countries need to build domestic and regional capacity in strategic industries such as magnets and batteries, she said, noting that China had developed its capacity in these sectors over many years.

Nikolaos Margaropoulos, president of the World Federation of Consuls (FICAC), said the challenge was often not finding opportunities but connecting the right people and building confidence among them.

Technology now provides businesses with extensive information about markets, but stronger networks are needed to turn those opportunities into actual trade and investment, he said.

Imran Karim, chairman of Confidence Power & Energy, Bangladesh, and Sriparna Pathak, professor at O.P. Jindal Global University in India, also spoke at the discussion.

Bangladesh's stock market showed relative resilience in September, with the benchmark DSEX posting the shallowest monthly decline among major regional equity markets, according to Sheltech Brokerage Ltd's monthly market overview.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), fell 47 points, or 0.85%, month-on-month (MoM), to close at 5,550 at the end of September.

In contrast, major regional indices declined between 2.27% and 6.57% during the month.

Indonesia's IDX Composite recorded the steepest decline among the markets reviewed, falling 6.57%, followed by India's S&P BSE Sensex, which dropped 5.82%.

Malaysia's FTSE Bursa Malaysia KLCI fell 4.33%, while Pakistan's KSE 100 declined 3.96% and Vietnam's VN-Index dropped 3.47%.

Sri Lanka's ASPI and Thailand's SET Index declined 2.46% and 2.27%, respectively, during the month.

The comparatively smaller decline in Bangladesh, however, came amid weak trading activity and broad-based selling pressure, suggesting that the market's resilience was relative rather than a sign of strong buying momentum.

A monthly market overview is a periodic assessment of a stock market's performance during a particular month, covering benchmark-index movements, trading activity, market breadth, sectoral performance, major market-moving events and, in some cases, developments in the money market. Such reports help investors assess the direction and underlying strength of the market over a defined period, according to the Sheltech Brokerage.

According to Sheltech Brokerage, average daily turnover on the DSE fell 25.67% MoM to Tk651 crore in September, while market breadth weakened to 0.56, indicating that declining stocks significantly outnumbered advancing issues. Of the traded securities, 238 declined, 134 advanced and 17 remained unchanged. The market capitalisation also fell by around Tk7,200 crore during the month.

The brokerage attributed the market's performance to several domestic and external factors, including an energy-supply crisis, renewed geopolitical tensions, higher fuel prices and Bangladesh Bank's decision to keep its policy rate unchanged.

The market initially witnessed strong buying interest amid optimism over proposed market-development initiatives by the Bangladesh Securities and Exchange Commission (BSEC). The momentum, however, weakened as concerns over energy supplies intensified following the renewed conflict in the Middle East.

The DSEX subsequently fell below the 5,529.40–5,563.60 support zone, according to the brokerage.

Buying interest returned around mid-month after the BSEC held discussions with leading brokerage firms on the prolonged market downturn. Sentiment received further support from Moody's revision of Bangladesh's economic outlook from negative to stable, along with an improvement in domestic gas supplies.

These developments helped the DSEX move towards the 5,600 level before renewed selling pressure emerged towards the end of the month.

The late-month weakness was driven partly by the government's fuel price hike and Bangladesh Bank's decision to keep the policy rate unchanged, despite market expectations of further monetary easing.

Investors also remained cautious ahead of earnings and dividend announcements from companies with June year-end financial reporting.

Blue-chip stocks showed greater stability than the broader market. The DS30 index, which tracks 30 leading companies on the DSE, declined only 0.23% during the month to 2,108.

Sectoral performance, however, remained largely negative. Ceramics was the weakest-performing sector, falling 4.97% during the month, followed by engineering, down 3.46%, and non-bank financial institutions, which declined 3.28%.

Insurance and mutual funds were among the exceptions, posting gains of 4.87% and 11.79%, respectively, according to the report.

Trading activity remained concentrated in a handful of sectors. Textile stocks accounted for 26.03% of total turnover, followed by insurance at 17.53% and pharmaceuticals and chemicals at 11.61%.

Selective mutual fund and insurance stocks also dominated the monthly gainers. Bangladesh National Insurance gained 62.49%, while First Prime Finance Mutual Fund and ICB AMCL Second Mutual Fund advanced 58.85% and 38.89%, respectively.

On the other hand, BD Thai Food, Sharp Industries and Saif Powertec were among the major decliners, falling 20.82%, 19.67% and 17.20%, respectively.

Sharp Industries, Saiham Textile, Envoy Textiles, IPDC Finance and Malek Spinning were among the most actively traded stocks during the month.

The money market also showed mixed trends in September, with government security yields moving in different directions across maturities.

Yields on short- to medium-term government securities declined sharply during the month. T-bill yields fell by 50–57 basis points, while yields on five-year and 10-year Treasury bonds declined by 77 basis points and 81 basis points, respectively.

In contrast, yields on 15-year and 20-year Treasury bonds increased by 24 basis points each, resulting in a significant steepening of the yield curve at the longer end.

The spread between the 20-year and 91-day securities widened from 19 basis points in August to 97 basis points in September, highlighting the divergent movement in short- and long-term borrowing costs.

The Bangladesh Securities and Exchange Commission (BSEC) has directed the Dhaka Stock Exchange (DSE) to complete the transfer of 30.78 lakh shares of Dominage Steel Building Systems Limited to the new owners within seven days.

The shares are currently held by the company's sponsors/directors and are subject to restrictions during the prohibitory period.

In a letter issued to the DSE on 28 September, the BSEC said the transfer could proceed despite the restriction because the transferees would acquire the entire shareholding of the transferors and take charge of operating the company.

The commission also said the transferred shares would remain under lock-in and the transfer would not affect the interests of general shareholders.

The DSE has therefore been directed to complete the transfer within seven days. All other conditions imposed in the BSEC's earlier letter dated 27 August 2026 will remain unchanged.

The DSE had sought BSEC's guidance before processing the transfer because of the relevant provisions of the Bangladesh Securities and Exchange Commission (Beneficiary Business Prohibition) Rules, 2022.

The rules are intended to prevent related persons from gaining an advantage by using internal or confidential information. They impose restrictions on share transactions by sponsors, directors and other related persons during specified periods and under specified circumstances.

As the Dominage Steel shares held by the sponsors and directors were covered by such restrictions, the DSE sought clarification from BSEC on whether and how the proposed transfer could be processed.

In response to the DSE's 15 September letter, BSEC said that although the transferors are restricted from transferring shares during the prohibitory period, this particular transaction could proceed.

The commission considered that the new owners would acquire the entire shareholding covered by the transfer, assume responsibility for operating the company, and keep the transferred shares under lock-in. As a result, the interests of general shareholders would not be affected.

Earlier, on 27 August, the BSEC conditionally approved the proposed transfer of 3.078 crore shares, equivalent to around 30% of Dominage Steel, to Akij Resources Limited, Sheikh Jasim Uddin and Faria Hossain.

The shares are to be transferred from the company's sponsor-directors to the new investors.

The proposed transaction will be executed through an off-market negotiated transaction under CDBL Bye-Laws 11.6 through a matched transaction.

The company's board had approved the proposed sale of the sponsor-directors' shares at a meeting on 25 April. The company subsequently applied to the BSEC for approval of the transfer.

The latest BSEC decision clears the way for the transfer of the sponsor-directors' entire shareholding covered by the proposal.

The commission specifically noted that the new investors would acquire the full shareholding of the transferors and take charge of operating the company.

This means the transaction involves not only a change in share ownership but also a potential change in the company's management and control.

The transferred shares will remain under lock-in, as required by the regulator.

Dominage Steel has been facing financial and operational challenges for some time.

During July-December of FY2025-26, the company's revenue fell 54% year-on-year to Tk5.75 crore. It incurred a net loss of Tk0.94 crore during the period, resulting in a loss per share of Tk0.09.

The company has also faced scrutiny over its operational activities. During a DSE inspection in late 2025, its factory in Narsingdi was found closed.

The company, however, said its Savar unit remained operational. It also explained that its engineering and construction business is largely project-based, meaning continuous production is not required at all of its facilities.

The BSEC's latest instruction has moved the proposed ownership change closer to completion.

The DSE must now complete the transfer within seven days, while the conditions set out in the regulator's 27 August approval will remain in force.

Once the transfer is completed, the new investors will take over the shares covered by the transaction and assume responsibility for operating the company.

The effectiveness of the ownership change will ultimately depend on how the new owners address Dominage Steel's financial and operational challenges and whether they can restore the company's business performance.

Finance Minister Amir Khasru Mahmud Chowdhury has urged the state-owned Investment Corporation of Bangladesh (ICB) to become more market-oriented, competitive and professional, saying it must match the efficiency of private-sector institutions.

Speaking at an event marking ICB's golden jubilee in Dhaka today (1 October), the minister said the corporation needed to rethink its strategy after five decades of operation and transition to a fully digitalised system.

"The private sector is smart, intelligent and operates closely with both global and local markets. ICB must reach that level – you have to be market-based, competitive, efficient and professional," he said.

He also rejected the idea of seeking tax waivers for ICB while other businesses pay taxes.

The minister said the government would discuss ICB's capital restructuring proposals, without elaborating on the issue.

He also said deregulation of the capital market would continue as Bangladesh aligns its regulatory framework with global best practices. He noted that the timeline for direct listing had been reduced from 18 months to three months under the newly appointed securities regulator.
ICB seeks Tk10,000cr low-cost fund

At the event, ICB sought government support, including a Tk10,000 crore low-cost fund, to restructure its capital and ease its financial pressure.

ICB Managing Director Niranjan Chandra Debnath said the corporation had formulated a 10-year plan to overcome its crisis, with the proposed fund to be used partly to repay high-cost loans and partly for investment in the capital market.

ICB currently has around Tk14,000 crore in high-interest borrowings, he said.

The government has already provided Tk4,000 crore, part of which was used to repay debt and part invested in the stock market, generating returns for ICB, he added.

Niranjan said lower interest costs after debt repayment would help ICB return to profitability from the second year. He also outlined plans for capital restructuring, business expansion and recovery of nearly Tk1,000 crore stuck with various financial institutions.

BSEC Chairman Masud Khan said ICB's contribution to industrialisation and the capital market was undeniable but urged it to improve its professionalism to compete with private asset management companies.

He stressed better reporting, governance, portfolio rebalancing and adherence to international standards.

He further said stock market investments involve both gains and losses, making them cyclical. He stressed the need for a loss-averse approach, saying investors should rebalance their portfolios when stock prices fall to avoid missing opportunities to invest in quality stocks.

Financial Institutions Division Secretary Nazma Mobarek said ICB was currently in distress, partly because of investments made without adequate market analysis and heavy reliance on high-cost borrowing.

She said the corporation needed to assess the viability of capital restructuring and focus on rebalancing its investment portfolio.

ICB Chairman Professor Abu Ahmed said high-interest borrowing before 2024 had contributed significantly to the corporation's current crisis.

He said severe portfolio erosion, including losses linked to "pump and dump" operations, had weakened the institution and reiterated the call for Tk10,000 crore in low-cost government funding.

He added that the government assistance will ensure the survival of this institution established during the tenure of President Ziaur Rahman.

The event was organised at Hotel Purbani International to mark ICB's golden jubilee. Established in 1976, ICB has played a key role in developing Bangladesh's capital market and providing financing and other financial services.

Among others, Finance Division Secretary Dr Md Khayeruzzaman Majumder, former ICB Managing Director and former BSEC official Ziaul Haque Khondker, former ICB chairmen and managing directors, and senior officials from the Finance Ministry, Bangladesh Bank and BSEC attended the event.

Major US automakers have watched their domestic market share shrink even more thanks to their Asian competitors -- a situation that may worsen if Chinese firms are able to enter the US market, an idea floated by President Donald Trump.
“The broader market story continues to be the growing (sales), and mostly on the strength of Asian automakers,” said Charlie Chesbrough, a senior economist at Cox Automotive.

The analyst said that Asian brands are expected to account for more than half of US new vehicle sales in the third quarter, for the second quarter in a row, “approaching record-high market share levels.”

At the same time, Detroit’s historic Big Three -- General Motors, Ford and FCA/Stellantis (which makes Chrysler, Jeep and Dodge) -- will see their market share dwindle to a bit more than 36 percent, the lowest on record.

Chesbrough says the trend is rooted in the fact that Asian companies have “significant advantages” over US firms on hybrid vehicles, which more and more consumers are embracing given the volatile price of gas due to conflict in the Middle East.

GM is still the overall leader in terms of US sales, but Japan’s Toyota is quickly catching up.

GM has slipped from 17.4 percent market share in 2025 to 16.7 percent in the first nine months of this year. Toyota meanwhile went from 15.2 percent to 15.6 percent in the same period, according to Cox Automotive.

In the third quarter, GM sales fell 5.5 percent to 670,974 units, while Toyota sales rose 0.6 percent to 633,223 units.

A similar pattern emerges when comparing Ford and Hyundai-Kia, which are third and fourth, respectively. Market share and sales are down for the Dearborn, Michigan, heavyweight, and up for the South Korean group.

Cox even predicted that Ford would soon drop to fourth place, but Hyundai-Kia’s sales did not advance as much as estimated, so Ford remained in the number three spot.

FCA US sits in sixth place behind Japan’s Honda.

Michael Orange, head of US retail sales for FCA US, said Friday the companies were operating against “a highly competitive industry backdrop.”

And the situation could get worse.

In mid-September, Trump said he was “okay” with the idea of Chinese cars on American highways, as long as their manufacturers opened factories in the United States and hired American workers.

He made the comments before Chinese President Xi Jinping paid him a visit, his first trip to the White House in more than a decade.

Lobbyists representing carmakers, parts manufacturers and dealers reacted quickly, asking Trump to “keep the door firmly shut to Chinese automakers seeking to sell, import or manufacture vehicles inside the US.”

Among those who signed the letter were the American Auto Policy Council, which represents the Big Three, and Auto Drives America, which represents carmakers from Japan, Germany and other countries with US plants.

Peter Nagle, an expert at Mobility Global, estimated recently that Chinese makers such as BYD, Geely and SAIC could sell up to 1.7 million cars in the United States -- about 11 percent of the market -- from now until 2038, according to Bloomberg.

Importing Chinese vehicles is not strictly forbidden, but punitive customs duties and tariffs imposed by multiple governments would make it prohibitively expensive.

According to industry observers, these punitive measures allow the US to avoid a massive influx of low-cost Chinese vehicles, a fate seen in Europe, Australia, Southeast Asia and Latin America.

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Last month, the Alliance for Automotive Innovation -- which includes all carmakers present in the United States -- called on congressional leaders to put in place a “permanent ban” on Chinese cars, citing high-risk hardware and software they use.

Such a ban would include sale, importation and manufacturing on US soil.

Alliance president John Bozzella justified the request by invoking national security and the need to curb what he called “China’s strategy to dominate global automotive manufacturing.”

He accused Chinese carmakers of “dumping subsidized vehicles with connected software and hardware... capable of collecting, processing and transmitting sensitive vehicle and consumer data to the Chinese Communist Party.”

Prime Minister Tarique Rahman on Saturday called for deeper regional cooperation in trade, energy, technology, climate and maritime affairs to turn the Bay of Bengal into a region of shared prosperity.

"Let the Bay of Bengal become a region where nations grow together, embrace mutual and reciprocal benefits, and citizens expand meaningful cooperation," he said while inaugurating the fifth Bay of Bengal Conversation 2026 at the Pan Pacific Sonargaon Hotel in Dhaka, reports UNB.

The Prime Minister said Bangladesh's strategic location, ports, waterways and coastal economy offered significant opportunities to connect the country with the wider world through shipping, fisheries, tourism, energy and regional supply chains.

"Regionally, our shared geography should become a shared prosperity," he said, stressing the need for deeper bilateral and multilateral engagement.

Tarique said Bangladesh could expand cooperation with regional and global partners in trade, energy, education, technology, climate and maritime affairs, while opening new markets and creating more opportunities for young people.

"We can build stronger cooperation based on equality, fairness and justice. Geography has brought us together; and we are confident that people-to-people ties can take us further," he said.

The Prime Minister said Bangladesh believes in dialogue, partnership and mutual respect and would protect its national interests and sovereignty while working positively with all regional and global partners.

"Because peace and harmony are the foundation of shared prosperity and development," he said.

The three-day Bay of Bengal Conversation 2026 is being organised by the Centre for Governance Studies (CGS) from October 3 to 5 under the theme "Fragments, Frontiers and Futures: Navigating Power, Technology and Trust in a World Rewritten".

The conference brings together around 200 speakers, more than 300 delegates and over 1,000 participants from more than 100 countries.

Participants include former heads of state, ministers, diplomats, policymakers, researchers, academics, journalists, business and investment leaders, technology experts and civil society representatives.

Former Serbian President Boris Tadic and former Malian Prime Minister Moussa Mara are among the notable participants.

In his address, Tarique also outlined his government's five-year priorities, saying Bangladesh is moving "from commitment to implementation" with a focus on national interests, policy continuity, economic stability and institutional reform.

He said the government is working to make Bangladesh an attractive destination for investment and a strong manufacturing and investment hub, with a focus on creating jobs in production, services and exports.

Tarique also highlighted the government's social protection initiatives, including the Family Card, Farmer's Card, Health Card and an eventual Universal Card to provide integrated access to public services.

On healthcare, the Prime Minister said the government is working to employ 100,000 healthcare workers, around 80 percent of whom would be women, to provide basic care, health advice and referrals at the community level.

He said his government is also focusing on maternal and child healthcare and expanding access to education, including free uniforms, school bags, midday meals and scholarships from Class One.

The Prime Minister said Bangladesh's young population is a major national asset but turning the demographic dividend into development required skills and jobs.

"We are embracing technological changes and artificial intelligence, while promoting language skills and employment pathways," he said, adding that the government is supporting innovation, entrepreneurship and start-ups.

"We want our youth to compete globally and turn 'brain drain' into 'brain circulation'," the Prime Minister added.

On agriculture and climate resilience, Tarique said his government is improving farmers' access to technology, irrigation, finance and markets while supporting fisheries, livestock and rural enterprises.

He said Bangladesh planned to dig 20,000 kilometres of canals and waterways over the next five years, advance the Padma Barrage project and develop a Teesta Master Plan.

Tarique also announced a target to plant 250 million trees over five years and said Bangladesh was expanding solar energy, waste recycling and green factories.

On governance, the Prime Minister said development required strong institutions, with transparency and accountability, human rights, democratic principles and freedom of expression protected. "The rule of law must apply equally to every citizen," he said.

On the Rohingya crisis, Tarique said Bangladesh continued to host around 1.2 million refugees and remained committed to their early, voluntary, safe, dignified and sustainable repatriation to Myanmar.

"This requires sustained political support and global finance. It also requires addressing the root causes of the crisis, which started in Myanmar and must end in Myanmar," he said.

The Prime Minister reiterated Bangladesh's readiness to play its part in promoting cooperation in the Bay of Bengal and beyond.

The Prime Minister formally opened the three-day event around 10am.

CGS President Zillur Rahman and Executive Director Parvez Karim Abbasi delivered the welcome remarks at the opening of the conference.

The programme includes public sessions such as plenaries, leadership forums and spotlight talks, as well as smaller invitation-only roundtables for in-depth discussions, according to the organisers.

The discussions will focus on major regional and global issues, including geopolitics and security, technology, trade and connectivity, climate change, human security, democracy, governance, trust, spirituality and humanity.

Crude futures finished down after European leaders agreed to US President Donald Trump’s request to release diesel reserves to lower prices and reduce fuel imports from the US.
Brent settled down 6 cents, or 0.06 percent, at $102.25 a barrel. WTI finished down $1.76, or 1.90 percent, at $91.11 a barrel.

For the week, Brent was up 0.11 percent with WTI 1.6 percent lower.European Union countries agreed to a French proposal to release additional diesel stockpiles, a source familiar with details of the discussion told Reuters.

“Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil,” Trump wrote in a post on Truth Social. Previously, Trump had said he was mulling a ban on US diesel exports.

“Europe is feeling pretty vulnerable,” said Phil Flynn, senior analyst with the Price Futures Group. “Europe would be one of the areas to suffer the most if we put an export ban on diesel.”

EU governments acted after discussing the proposal by France for European countries to release 50 million barrels of diesel, and for International Energy Agency members to release 50 million barrels of crude oil, three sources familiar with the discussions told Reuters.

Under the proposal, Europe would release part of the diesel volumes in a 20-day period, two of the sources said. French President Emmanuel Macron chaired a videoconference with G7 leaders on Friday, the Elysee Palace said.

It was not immediately clear if G7 countries had agreed to France’s proposal on the volumes of fuel to be released.

“This highlights that the main stress in the energy market is no longer crude availability, with Middle East flows recovering, but rather refined product supply, constrained by reduced refinery capacity and output across the Middle East and Russia,” said Ole Hansen, head of commodity strategy at Saxo Bank.

John Kilduff, partner with Again Capital, listed other issues shaping the oil market.

“The rhetoric back and forth between the US and the Iranians,” Kilduff said.

“The midterm elections. What kind of cliff does that represent for the president?”

“What’s really making the Iranians talk again is the squeeze on their economy,” Kilduff added.

On Thursday, prices settled higher after Reuters reported that Chinese refiners had suspended oil product exports for October to preserve domestic stocks.

Also supporting prices, the Wall Street Journal reported that the US was sending a third aircraft carrier and up to 10,000 more troops to the Middle East as Trump weighed resuming strikes on Iran after the midterm elections.

Hamad Hussain, senior climate and commodities economist at Capital Economics, said another release of oil stocks “could be enough to help tip the overall market back into a slight surplus if the recent pick-up in flows from the Middle East is sustained”.

Barclays said in a note that despite better crude flows out of the Middle East, physical market fundamentals remained strong, with inventories still being drawn, and prompt cargoes commanding steep premiums over forward prices.

It raised its fourth-quarter Brent forecast by $20 a barrel to $115 and lifted its 2026 forecast to $100 a barrel.

Elsewhere, Ukraine has struck oil facilities in Russia’s Samara and Volgograd regions over the past 24 hours, President Volodymyr Zelenskiy said on social media on Friday.

Invest Bangladesh, the country’s apex investment promotion agency, has introduced an incentive scheme to encourage Bangladeshis at home and abroad to attract fresh foreign direct investment (FDI), seeking a cost-effective way to promote the country to overseas investors.

The scheme will offer a cash incentive of 1.25 percent to individuals who mobilise at least $1 million in fresh foreign investment, according to an official of the agency.

It targets around $600 million in fresh equity investment, based on the previous year’s benchmark, against Bangladesh’s average annual FDI inflow of about $1.5 billion, a significant portion of which comes from reinvestment.

The initiative comes amid sluggish FDI growth in Bangladesh, particularly compared with regional peers.

The Cabinet approved the Foreign Direct Investment (FDI) Incentive Scheme Policy, 2026, on June 4 to encourage expatriate Bangladeshis and other citizens to leverage their networks to attract foreign investment.

However, the Cabinet Division did not disclose the specific benefits or incentives under the policy at the time.

The policy addresses a key challenge for Bangladesh: the country remains relatively unknown to many potential investors, while promoting it overseas requires substantial spending.

Speaking to The Daily Star, Nahian Rahman Rochi, an executive member of Invest Bangladesh, said many investors, particularly in emerging markets, remain unaware of Bangladesh’s market size and investment opportunities.

“We do not have the budgetary support to promote Bangladesh on a mass scale,” he said.

The incentive scheme aims to address this limitation by tapping Bangladeshis and non-resident Bangladeshis (NRBs) who have established business and professional networks abroad.

“Many NRBs are in very good positions abroad. They have the right connections,” Rochi said.

The government wants to leverage these networks to reach potential investors, particularly in emerging markets where Bangladesh has limited visibility and companies are exploring new investment destinations.

Rochi cited Turkey, where high inflation and interest rates have prompted some businesses to consider relocating. Turkish textile and advanced textile companies, for instance, are exploring investment opportunities in countries such as Egypt and Ethiopia.

Bangladesh, with its established textile industry, could potentially attract some of these investors, but reaching the right decision-makers remains a challenge, he said.

The incentive scheme seeks to reward individuals who can turn their overseas connections into actual investments in Bangladesh.

The scheme will focus on fresh foreign equity investment rather than existing investments or reinvestment. Prospective investors must be registered under the scheme before making the investment, and incentives will be paid only after the funds have been brought into Bangladesh and verified.

Authorities will assess whether investors have taken concrete steps, such as opening bank accounts, acquiring land or starting construction, to ensure that investments are genuine.

The incentive will be paid in two instalments, with 52 percent disbursed after the investment is verified and the remaining 48 percent after the project is fully completed, Rochi said.

For instance, an individual who mobilises Tk 100 crore in investment will be entitled to a cash incentive of Tk 1.25 crore. After deductions for taxes and VAT, the individual will receive Tk 1 crore, he added.

Rochi said the scheme’s objective is not merely to increase the headline FDI figure but to attract fresh foreign equity that might otherwise not reach Bangladesh.

The initiative will enable the country to tap into the networks of Bangladeshis based in key overseas markets, reducing the need to establish and maintain an extensive investment-promotion infrastructure abroad, he added.

An inspection report by the US aircraft manufacturer Boeing claims that Biman is struggling to maintain its existing fleet.

Chronic shortages of spare parts and tools are forcing Biman to keep flying with components that should have been repaired long ago, while an inadequately trained workforce is contributing to disruptions, says the report of October 2025.

An expert sees no immediate safety concern, but the findings raise questions about Biman’s ability to support a much larger fleet.

Its challenge is not just expanding the fleet but keeping aircraft in service reliably.

Biman Bangladesh Airlines has ordered 25 new Boeing aircraft this year.

The “Biman Bangladesh Airlines 777/787 Onsite Enhanced Support Close-Out Report” compares Biman’s 777 and 787 fleets with what the manufacturer describes as its global fleet standard. Boeing’s on-site maintenance team spent several months at Biman last year at the airline’s invitation, according to sources familiar with the exercise.

Of the 19 aircraft in Biman’s fleet, four are 777-300ERs, four 787-8s and two 787-9s.

Biman suffers many flight delays due to a high rate of odd technical issues, unlike other carriers’ Boeing fleets, and it takes Biman up to three times longer than “standard” to maintain its planes, the report said.

Of the top 10 problems identified in Biman’s and the global fleets, Biman’s 777s had only two in common with the global fleet -- the backup power system and the air-conditioning system’s cooling and temperature controls.

Biman’s 787s shared four, faults in a core computing unit known as the general processing module; the common motor start controller; and two different faults in motor controllers for the hydraulic spoilers, which help slow the aircraft.

Biman’s Boeing fleet issues are concentrated in complex systems, but wear-and-tear issues account for many of the service interruptions across Boeing’s global fleet.

For instance, the top driver of service interruptions for Biman’s 787s was the brake system control unit. Its breakdown rate was 14 times higher than the global fleet.

Brake-system failures do not even feature in the global fleet’s top 10.

The second-highest cause for Biman’s 787s was the spoilers, the panels on the upper surface of the wings that rise to increase drag and help the aircraft slow down.

There were two such occurrences in six months, and Boeing took corrective action in at least one case in August 2017.

The spoiler ranks ninth among the global fleet’s top 10 problems, but Biman’s rate of breakdown is about five times higher.

For the global 787 fleet, the top three causes are related to the general processing module, passenger seats and in-flight entertainment units.

For Biman’s 777s, the leading cause of service interruptions was the temperature control system, which fails six or seven times more often than it does in the global fleet, where it ranks eighth.

The second-highest cause was the cargo door, where Biman experiences about 14 times as many malfunctions as the global average.

Globally, the biggest concerns for 777s are the engine air supply and passenger seats, neither of which is a major problem for Biman.

The report notes a “lack of critical spares in stock at Dhaka base for 787 and 777”.

“Limited availability of parts leaves aircraft vulnerable and adds risk to dispatch situations,” it says.

The shortage has contributed to what Boeing described as a “high minimum equipment list (MEL) count”.

The MEL specifies which components are allowed to remain inoperative while an aircraft continues to fly, so a high count means an aircraft is operating with many inoperative components awaiting maintenance.

“MEL repair interval extensions are common and vastly over-utilised,” the report says, indicating that Biman frequently defers repairs.

It recommends an “urgent need to address MEL issues without waiting for the last minute”.

The report also identified shortages of maintenance tools at Biman’s main base and outstations, along with a shortage of skilled workers.

It recommended a proper succession plan to bridge the gap between the ageing workforce and new hires, career opportunities and incentives to retain talent, more training for mechanics working on newer aircraft models, and apprentice programmes.

Poor coordination was also contributing to delays, according to the report.

The departure ramp is 20 to 40 minutes from the hangar, and engineering staff must print manuals for last-minute technical problems because they do not have tablets with electronic manuals. There are no airside vans and only one high-lift platform in the hangar, the report said.

Biman also has no pool agreement or labour support at international bases, so “people must be dispatched from Dhaka base” to support aircraft on the ground. Visa procedures and travel time can cause further delays, it added.

That was the case in Rome on August 7 this year, when a Biman 787 operating from Toronto to Dhaka was stuck at Fiumicino Airport because of a technical problem.

Biman had to send two engineers and replacement parts from Dhaka, and nearly 260 passengers remained stranded there for more than 40 hours.

Amina Anjum Tonni, a Dhaka-based private-sector employee who was bringing her parents back from Canada on the flight, described the ordeal. “My father has had three bypass surgeries and had no opportunity to sleep during those 40 hours. They were sleeping upright throughout. He did not have his medication with him,” she said.

On August 22 this year, a Biman flight from Dhaka to Toronto via Rome was delayed by six hours, according to the airline’s operational summary.

Over the 24 hours from August 22 to 23, Biman recorded 10 flight delays, at least two of them caused by technical issues.

A Biman internal report recorded 37 delays due to technical issues over five weeks, from July 5, 2025.

The Biman report said recurring problems included wheel replacement or loss of tyre pressure (causing more than six delays), cabin-pressure control faults (causing more than five delays) and engine-related problems (causing more than four), as well as sensor faults, spoiler actuator problems, and cracked windscreens.

The report also cited several incidents.

On July 19, a Biman aircraft returned to Dhaka after developing a crack in its windscreen.

On February 28, 2025, a Dhaka-Bangkok flight was forced to return because of cabin decompression. Oxygen masks were deployed but allegedly did not work because their stated expiry date was June 2001, according to the report.

Air Commodore Mohammad Akhter Jamil, chair of avionics engineering at Aviation and Aerospace University Bangladesh, said the spare-parts shortage could be costly for the airline.

“When a plane is brought in for maintenance, and there are no spare parts, the engineer may refuse to sign it off as fit to fly. It would have to be taken out of the rotation, which would throw off the entire schedule,” he said.

The shortage could point to two possibilities, Jamil said, adding, “Either procurement is not being done on time, or parts are being consumed at a very high rate because of more frequent technical problems.”

The Daily Star contacted Biman’s managing director and CEO multiple times over two weeks but had not received a response as of filing this report yesterday.

Questions were also sent to the MD’s office through Biman’s public relations officer.

Asked whether Biman had acted on any of Boeing’s recommendations in the year since the report was prepared, a Biman official, speaking on condition of anonymity, said it had not.

The government's economic priorities include restoring macroeconomic stability, controlling inflation, reforming the tax system and strengthening governance in the banking sector, Finance Minister Amir Khosru Mahmud Chowdhury said on Saturday.

He also identified restoring confidence in the banking sector, increasing investment and creating employment as major challenges for the economy.

The minister made the remarks as chief guest at the Grand Finale of ECONTHON 2026, a national inter-university economics competition, held at United International University (UIU) in the capital.

"Inflation was putting pressure on people's purchasing power, while tax collection as a share of gross domestic product remained far below the level required to meet the country's development needs," he said.

Calling for structural reforms in the tax system, Khosru said it should be made fair, simple and technology-driven. He also stressed the need to improve the environment for private investment to support economic growth and employment.

The finance minister said the country also needed to ensure better returns from public spending on education, health and social protection. "Policy should be based on data and evidence," he said, adding that policymakers must assess whether a policy is implementable, how much it will cost, who will benefit and who will bear the burden.

He said Bangladesh's export sector would increasingly need to rely on competitiveness rather than trade preferences as the country prepares for graduation from the least developed country (LDC) category.

"There is no benefit in hiding problems; acknowledging them is where solutions begin," he said.

Khosru also pointed to growing uncertainty in the global economy, citing slower growth, higher financing costs, rising protectionism and tariff barriers, geopolitical conflicts and increasing economic losses caused by climate change.

"Uncertainty in the global economy has become a normal reality," he said.

For an import-dependent and export-oriented economy like Bangladesh, such global shocks directly affect commodity prices, the exchange rate and export orders, he added.

He also said the country was preparing for LDC graduation irrespective of the timeline, stressing the need to strengthen economic competitiveness to cope with the changing global trade environment.

The programme was organised by the Junior Economists Forum (JEF) of UIU in collaboration with its Department of Economics.

A total of 224 teams from universities across Bangladesh registered for ECONTHON 2026, which sought to help students apply classroom knowledge to real-world economic challenges while developing analytical thinking, problem-solving, adaptability, creativity and economic reasoning.

ECONTHON 2026 had a total prize pool of Tk 265,000. The team "Vini Vedi Vici" from North South University was crowned grand champion and received Tk 100,000.

Team "Shield" from the University of Dhaka secured the first runner-up position and received Tk 75,000, while team "Dhaka-99" from UIU secured the second runner-up position and received Tk 50,000.

Hasan Mahmood Raja, chairman of the Board of Trustees of UIU and chief adviser of United Group, attended the programme as the guest of honour, while KMA Shamim, member of the Board of Trustees of UIU and adviser of United Group, was present as a special guest.

The programme was presided over by Md Abul Kashem Mia, vice chancellor of UIU, and moderated by Mohammad Omar Farooq, head of the UIU Department of Economics.

G7 countries agreed Friday to release 100 million barrels of diesel and crude oil to ease global energy supply concerns, as President Donald Trump hailed the decision and said the US would not impose a threatened diesel export ban.
The announcement came following a video conference of G7 leaders chaired by French President Emmanuel Macron after Washington stepped up pressure on Europe to release strategic reserves and threatened a diesel export ban.The talks, convened by Macron after a conversation with Trump, focused on coordinating a response to soaring fuel prices among the other G7 economies of Britain, Canada, Germany, Italy, Japan and the United States.

The US-Israeli war with Iran has sent energy prices skyrocketing, coming back to bite Trump at home with high fuel costs that have become a key issue ahead of midterm congressional elections in a month.

Trump had floated the possibility of banning US exports of diesel, which is used in trucks and other hauling vehicles, an alarming prospect for the EU, which relies heavily on fossil fuel imports.

The seven countries agreed to a coordinated release through the International Energy Agency (IEA) of 100 million barrels "to begin immediately over four months, including a frontloaded substantial diesel release within the first 20 days," the leaders said in a statement released by Macron's office.

They also said there would be no ban on diesel exports between them.

"We reaffirm our commitment to refrain from export restrictions on energy and energy products between G7 countries and call on all producers to refrain from imposing bans that could exacerbate market tensions," the leaders said.

"Our citizens' concerns about energy prices remain a top priority."

Trump said European countries had agreed to release a "massive amount" of diesel from their reserves.

"The process will begin immediately," he posted on his Truth Social network.

"Europe has a lot of diesel and they're going to be making a major world contribution -- and so are we," Trump said later, adding "Europe did a great thing".

"And we're not going to be doing the export ban," he said.

- US pressure -
Earlier the EU pushed back hard against US threats to impose a diesel export ban, something Macron also warned against during his conversation with Trump.

The flurry of diplomatic activity came a day after US Treasury Secretary Scott Bessent cranked up the pressure on European nations.

"American farmers, truckers, and businesses should not be left carrying the burden of a global diesel shortage," he said.

US Energy Secretary Chris Wright likewise held talks with his British counterpart Miatta Fahnbulleh on the crisis, including on the UK's strategic reserves.

British dairy farmer Keith Blackshaw, in the Derbyshire hamlet of Newhaven, complained of a "vicious circle" with high fuel prices being passed onto customers.

"I'd like to see Mr Trump support us a little bit more really," the 69-year-old said. "He looks after his own. Maybe we should do the same, look after our own."

The 32 members of the IEA agreed last March to unlock 400 million barrels of oil from reserves, their largest release ever.

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- 'Sanctions against Russia' -
Earlier this week, IEA chief Fatih Birol said European nations had yet to release part of those stocks, which could happen soon.

About a third was yet to come to market, Birol said, adding that further releases were possible since 80 percent of overall IEA stocks were "still in our pocket".

Diesel prices in the United States and Europe have hit record highs in recent weeks, with an export ban imposed by major producer Russia in response to Ukrainian attacks on fuel facilities also contributing to global market pressures.

The G7 leaders said on Friday: "We will maintain sanctions against Russia while working with the IEA and global partners to prevent further spillovers into fuel, gas, and other commodity markets."

Energy prices surged in the eurozone in September, pushing inflation to 3.8 percent, the highest level in three years.

Policy-based lending by the Asian Development Bank (ADB) is expected funnel several-hundred million dollars into government's ambitious recipe to heal electricity crises by enhancing solar-power generation, officials said.

A team of the ADB, led by its Director of the South Asia Energy Team Sujata Gupta, held out the support in meetings with the officials from Finance Division, Power Division, Sustainable and Renewable Energy Development Authority (SREDA), Bangladesh Energy Regulatory Commission (BERC) and Bangladesh Power Development Board (BPDB) during three days ending Thursday.Track Investments

Earlier, the Power Division had requested the ADB support through policy-based lending to accelerate renewable-energy development, reduce reliance on fossil fuels, promote clean and environmentally sustainable electricity generation, reduce power-sector subsidies, strengthen sector sustainability, and contribute to the achievement of the UN-designated Sustainable Development Goals.

The Power Division also had requested the Finance Division to seek $2.0 billion from the ADB to materialise its rooftop solar power ambition. Subsequently, the Finance Division requested the Economic Relations Division to place the proposal to the ADB for getting the loan "as soon as possible".

Sources said during the meetings with the officials, the ADB team discussed the government priorities and ongoing policy and regulatory reforms for accelerating renewable-energy development.

Also, they reviewed recent policy and regulatory and institutional measures to identify key constraints to scaling up renewable energy investment, including private-sector participation, sources said.Access Services

Moreover, they discussed issues and areas for identifying potential policy actions that could be supported under the proposed ADB policy-based loan.

Also, the proposed policy-reform areas and implementation arrangements came into discussion during the meetings, sources familiar with the developments said.

According to officials concerned, initially, the ADB officials said they would bring forward US$100 million from the pipeline and add some more to the amount for releasing several hundred million dollars to help materialise the government's solar- power ambitions.

The size of the proposed policy-based loan and an indicative timeline for processing the loan will be finalised after having meeting with the top officials from the ERD, sources said.

In exchange, the ADB asks Bangladesh to carry out reforms for financial sustainability, energy-ecosystem development, and integration of renewable energy in grid system, according to officials concerned.Get Solar Panels

In the recent weeks, the government has taken a range of measures to accelerate renewable-energy deployment. It has issued several regulatory orders and notifications to incentivise rooftop solar development, introduced policy directions to promote private- sector investment in merchant power plants, and issued guidelines to facilitate renewable- energy projects through public-private partnerships on land owned by state-owned entities.

The government also set target to generate an additional 3,000 to 4,000 megawatts of electricity from rooftop solar before next summer to avoid the possible power crisis then.

Also, the government high-ups ordered diversion of necessary funds from the development budget as the private-sector renewable-energy producers suggested creation of funds for financing rooftop solar-power generation.

Following that, a Tk 15-billion fund has been created by repurposing Tk 10 billion from budgetary allocation for Small and Medium Enterprise (SME) sector and Tk 5.0 billion from operating loans.Compare Utilities

President of Bangladesh Sustainable and Renewable Energy Association (BSREA) Mostafa Al Mahmud told The Financial Express a large sum of financial support is necessary to materialise the government's target of generating 3,000 to 4,000MW electricity from rooftop solar before next summer.

"Foreign funds can be a good option for the government since many multilateral development partners provide low-cost funds for clean energy generation," he said.