The manager of Norway's $2.3 trillion sovereign wealth fund has proposed significantly cutting its exposure to US Treasuries as part of ‌a wider shake-up of its bond investments to improve returns, according to a letter published this week.

Norges Bank Investment Management has recommended reducing its weighting to government bonds within its benchmark bond index to 50% from 70%, with US Treasuries, the biggest holding, getting the biggest cut, according to the letter.

The changes would mean cutting nearly $80 billion from the fund's current holdings of about $215 billion of US Treasuries as of the end of June, according to Reuters' calculations.

Government bond markets have been under pressure recently, with long-term borrowing costs soaring as rising inflation and government debt levels spooked investors.

Norway's sovereign wealth fund, the world's largest, owns on average 1.5% of ⁠all listed companies globally. Its scale means that portfolio decisions can influence broader market flows. Any cuts to its bond holdings are unlikely to be implemented until several months into 2027 at the earliest.

The letter containing the fund's proposals was sent in response to questions from Norway's finance ministry about the wealth fund's investment strategy for bonds.

Norges Bank IM said it would await the ministry's response, and any changes would be done gradually to limit market impact and transaction costs.

The proposals will form part of recommendations to the ministry in January. They will be discussed as part of the fund's annual white paper process next spring, after which the ministry will make a final recommendation to parliament which will then hold a hearing, a Norges Bank IM spokesperson said.

"We recommend that the government subindex of the bond index be reduced from 70% to 50%," Ida Wolden Bache, governor of Norges Bank, and Norges Bank IM CEO Nicolai Tangen wrote in the letter.

"A government share of 50% will be ‌sufficient to ⁠cover the liquidity needs, including in periods of turbulence in financial markets."

The fund also proposed considering an increase in investments in unlisted assets in a separate letter, in part as a way to reduce concentration risks that have grown in its equity portfolio amid the boom in the share prices of a handful of US tech companies.

Under its current mandate, the fund can own unlisted real estate and renewable energy assets, but it has a lower share of unlisted investments than comparable funds.

Companies will not be shut down solely because of graft allegations against individuals, Finance Minister Amir Khosru Mahmud Chowdhury told parliament today (6 September).

"If there are allegations of corruption against an individual, a case can be filed against that person and they will be tried according to the law. But a company's operations cannot be shut down because of an individual," he said.

Khosru made the remarks in response to a supplementary question from Noakhali-6 lawmaker Abdul Hannan Masud during the question-and-answer session in parliament over the provision of new loans to S Alam Group, which has been accused of loan default.

The session was chaired by Deputy Speaker Kayser Kamal.

The finance minister said individuals and companies are separate legal entities, noting that a company is a legal and corporate entity with employees, loans, liabilities and an economic contribution.

Referring to S Alam Group, he said those accused of corruption were not being spared.

"Cases are being filed against them and the trials will continue. But before shutting down any company, we also have to assess its impact on the country's economy. An economy does not run on emotion. It has to run on law," Khosru added.

He further said Bangladesh Bank was not providing loans to anyone in violation of the law. "Companies eligible for loan rescheduling can avail themselves of the facility in accordance with the law."

Khosru also reiterated that individuals accused of corruption would continue to face trial.

Per capita public debt Tk1,29,239

In response to a question from Kushtia-1 lawmaker Reza Ahmed, Khosru said per capita public debt stood at Tk1,29,239 as of 31 March 2026.

He said the government was focusing on increasing revenue collection, improving public financial management and strengthening debt management to reduce the debt burden on citizens.

The government is also seeking to reduce its reliance on borrowing by increasing domestic revenue, while lowering financing needs through more cost-effective and productive public spending and controlling unnecessary expenditure, he said.

Bangladesh borrowed $81.83 billion from abroad

In response to a question from Cox's Bazar-3 lawmaker Lutfor Rahman, Khosru said Bangladesh had borrowed $81.83 billion from abroad between 2010 and June 2024.

During the same period, the government repaid $17.11 billion in principal and $6.04 billion in interest on its external debt.

Sammilito Islamic Bank has received nearly Tk5,000 crore from Bangladesh Bank to repay deposits, while customers have sought to withdraw Tk3,925 crore over the past four working days. A senior Bangladesh Bank official confirmed the figure to The Business Standard.

Since 1 September, around 74,221 customers have applied to withdraw Tk3,925 crore. Applications stood at 18,046 worth Tk1,329 crore on the first day, 19,613 worth Tk1,016 crore on the second, 21,086 worth Tk923 crore on the third and 15,476 worth Tk657 crore on the fourth.

Md Abedur Rahman Sikder, managing director of Sammilito Islamic Bank, said, "Figures are much lower than our expectations, which shows customer trust and confidence in us".

He said the bank had adequate preparations at branches of its five constituent banks and applications had declined gradually. The bank has nearly Tk10,000 crore in its current account with Bangladesh Bank, of which Tk5,000 crore was transferred today (6 September) to the five banks' accounts.

"The government owns this bank. Customers will transact with this bank with the same confidence they have in other state-owned banks," the official said.

Customers withdrawing before maturity will receive only the principal, while those keeping deposits until maturity will receive profits as agreed. They can withdraw cash or transfer funds to other banks through RTGS.

The official said adequate funds had been supplied to branches and there was no reason for depositors to be concerned.

Withdrawals begin tomorrow
Individual depositors can withdraw principal from Al-Wadiah current, Mudaraba savings, MTDR, DPS and other accounts. The bank accepted applications until today to complete cash and branch preparations and will begin payments tomorrow (7 September).

Customers keeping accounts open will continue receiving profits at agreed rates; once operations fully resume, deposits and withdrawals, including profits, will be allowed without limits. The Bangladesh Bank's Bank Resolution Department issued the directive on 31 August.

Formed under the interim government after Exim, Social Islami, First Security Islami, Global Islami and Union Bank failed to return deposits amid irregularities and fraud allegations, Sammilito Islamic Bank has 7.6 million depositors with Tk1.42 lakh crore in deposits.

Its loans total Tk1.92 lakh crore, 86% of which are in default, while capital shortfall exceeds Tk1.5 lakh crore.

The state-owned bank began operations last November with Tk40,000 crore authorised and Tk35,000 crore paid-up capital, including Tk20,000 crore from the government and Tk15,000 crore to be issued as depositor shares.

He made the remarks during the question-and-answer session of the Jatiya Sangsad while responding to a supplementary query from Md. Abdul Alim, Member of Parliament for Bagherhat-4. Deputy Speaker Barrister Kayser Kamal presided over the session.

The Finance Minister acknowledged that there is a widespread fear among people regarding coming under the tax net for various reasons, which discourages voluntary compliance. "It is true that there is a fear among people about falling under the tax net for various reasons. That is why people are reluctant to come forward. It is not just about audits; there are many other barriers contributing to taxpayers' apprehensions," he said.

Referring to the structural overhaul of the NBR to simplify the tax system, the minister stated: "We are moving the entire tax system toward bifurcation. Those who formulate tax policies at the NBR and those who implement them are being separated." He added that previously, this overlap created significant opportunities for corruption and undue influence. Separating the two functions will largely eliminate such opportunities, he asserted.

The government is striving to ensure transparency in implementation, the minister said. "We want every taxpayer to come forward to pay taxes easily. Bangladesh's tax-to-GDP ratio is very low. The lack of sustained efforts on this front in previous years has caused us to fall far behind. The simpler we make the tax system, the more people will voluntarily come forward. We are focusing on that," he added.

The finance minister assured Parliament that the government is identifying and resolving issues such as audit-related problems to simplify the tax system, promising that positive results would be visible very soon.

The dollar jumped on Friday after data showed that US employers added 162,000 jobs in August, well above the 56,000 additions expected by economists, boosting bets on a September Federal Reserve interest rate hike.The dollar gave up some of its early gains, however, as US markets head into a three-day holiday weekend and as traders waited on next week’s inflation data.
Labor Day on Monday is a US public holiday.

August’s job gains followed an unexpected 23,000 job decline in July. The unemployment rate held steady at 4.1 percent.“I don’t think this number changes anything really,” said Noel Dixon, senior macro strategist at State Street, pointing ahead to next week’s inflation reading.

“It’s all going to boil down to what that core number is going to be next week and I think the markets are going to react accordingly.”

Economic data for August is seen as key to whether the Fed will hike at its September 15-16 meeting.

Fed Governor Christopher Waller said on Thursday that if upcoming data confirms inflation pressures are cooling off, he is inclined to argue in favor of keeping interest rates steady.

Producer price inflation data is due on Thursday and consumer price inflation data is scheduled for Friday next week.

Economists expect core CPI to ease to 2.4 percent on the year, from 2.5 percent in July.

Elements of Friday’s jobs data also supported slowing inflation, Dixon said.

“In today’s number the unemployment rate stayed steady but if you look at wages year over year, that’s the lowest since June 2021. So if Waller and (Fed Chairman Kevin) Warsh and (Fed Bank of New York President John) Williams, who I think are very influential, wanted to hang their hat on something, they could hang it on that,” Dixon added.

The US trade deficit in July widened to its largest since March 2025, government data showed Thursday, as imports climbed on the back of the booming AI tech build-out.

US trade has seen wide fluctuations since President Donald Trump returned to the White House last year and rolled out sweeping tariffs on allies and competitors, in efforts to narrow the trade gap.
But the trade deficit in the world’s biggest economy grew to $88.6 billion in July -- a 24.4 percent increase from the month prior -- as exports of crude oil and gold fell while imports of tech products jumped.Exports dipped 2.1 percent to $310.7 billion, the Department of Commerce said.

Imports rose 2.8 percent to $399.3 billion, bolstered by computers, computer accessories and semiconductors.The US deficit with Taiwan, a major manufacturer of chips, reached a record $20.7 billion for the month.

The trade gaps with Mexico, Vietnam, Thailand, South Korea and Malaysia meanwhile also hit their highest on record.

While Trump’s tariffs have hit economies representing the majority of US trade, American officials have been careful to exempt products like chips, smartphones and other types of electronics.

Washington is looking to develop new tariffs on semiconductors, Commerce Secretary Howard Lutnick told CNBC Wednesday, adding that tech giants are aware of the Trump administration’s intent.

“What you’re going to see is targeted, thoughtful tariff policy that basically says if you build here, you don’t pay,” Lutnick said.

Over the past year, businesses have scrambled to step up imports before new waves of US duties kicked in.

Some firms expect further challenges in managing through Trump’s policies, which have caused business costs to rise, according to services sector survey data from the Institute for Supply Management. Activity in the sector jumped in August.

Although the US Supreme Court struck down many of Trump’s global tariffs in February, officials in July replaced them with fresh duties targeting 60 trading partners.

A separate trade investigation taking aim at 16 partners including China, the European Union and Taiwan, could lead to a further round of tariffs.

The United States meanwhile is engaged in a trade war with neighboring Canada, with which its deficit narrowed in July. Last month, Trump slapped a 50-percent duty on billions of dollars in Canadian goods, prompting Ottawa’s planned retaliation.

Also weighing on trade flows is fallout from the Middle East war, with Iran largely blocking off the Strait of Hormuz -- a key waterway for global energy and fertilizer transit.

Non-performing loans (NPLs) at six state-owned banks stood at Tk1.47 lakh crore at the end of June, with Janata Bank alone accounting for more than half of the total.

Janata Bank topped the list with Tk75,396 crore in NPLs, followed by Agrani Bank at Tk29,029 crore, Rupali Bank at Tk19,281 crore and Sonali Bank at Tk15,048 crore. BASIC Bank had Tk8,131 crore, while Bangladesh Development Bank had Tk888 crore in NPLs.

Finance Minister Amir Khosru Mahmud Chowdhury disclosed the figures yesterday in reply to a question from Jamaat MP Md Abdul Alim of Bagerhat-4 during the parliamentary session chaired by Deputy Speaker Kayser Kamal.

According to the latest Bangladesh Bank data, the banking sector's total NPLs reached Tk6,06,555 crore at the end of June, accounting for 32.78% of total loans. NPLs rose by Tk17,851 crore from Tk5,88,704 crore three months earlier.

Loans waived for 14 lakh farmers

In reply to Chuadanga-4 MP Md Ruhul Amin, the finance minister said loans, including interest, of 1,434,482 farmers who had borrowed up to Tk10,000 were waived between the government's assumption of office and July 2026.

The government paid Tk1,352.74 crore to banks to settle the waived loans.

Asian wheat importers, including Bangladesh, have bought at least half a million metric tons of Australian and Argentinean wheat in recent deals, three trade sources said, as buyers scramble to replace Black ​Sea cargoes delayed by attacks on vessels and grain export infrastructure.

Importers in the region, including ‌Indonesia, the world's second-largest wheat buyer, are paying sharply higher prices for alternative supplies, they said, with several countries relying heavily on imports to meet domestic demand.

"There have been bulk deals in the last one week to 10 days for ​Australian as well Argentinian wheat to fulfil urgent needs," said one Asian-based trader at an international ​trading company which supplies wheat to millers in the region.

"Importers are trying to take ⁠alternative shipments for cargoes that have not arrived from Russia and Ukraine."

Global wheat importers are facing tight supplies ​as Russian and Ukrainian attacks on ports and vessels have disrupted grain terminals, forcing shippers to delay or ​cancel loadings of dozens of cargoes during the peak export season.

US agricultural commodity group ADM said on Wednesday that a drone strike on August 31 damaged its UEP grain terminal at the Ukrainian Black Sea port of Odesa.

Buyers paid around $315-$330 per ton, ​including cost and freight, for Australian Premium White wheat, while deals for Argentinean wheat were concluded around $310-$315 ​per ton, traders said.

This compares with most Black Sea cargoes booked around $260 to $280 per ton for August-September arrivals.

Benchmark Chicago futures ‌have climbed ⁠about 35% since late June, fuelled largely by a shortfall in Black Sea supplies, while cash prices have jumped across rival exporters Argentina, Australia and the United States.

CBOT wheat reached its highest level in 3-1/2 years on Tuesday after reports Moscow had rejected a moratorium on attacks in the Black Sea region and ​launched overnight strikes on Ukrainian ​port infrastructure.

Grain processors in ⁠Asia have booked about 2.0 million to 2.5 million tons of Black Sea wheat for July-September shipment, or about 30% to 50% of import demand. Yet growing ​shipping delays have fuelled concerns that a portion of the grain may fail ​to reach ⁠buyers.

Besides Indonesia, other Asian buyers of Black Sea wheat include Bangladesh, Vietnam, Malaysia, Thailand and Sri Lanka.

While buyers are securing bulk volumes of Australian and Argentine wheat, some have turned to container shipments to meet immediate needs, ⁠traders said.

"Some ​millers are preferring containers as they have agreed with suppliers to ​further delay the arrival of Black Sea cargoes," said a second Asia-based trader. "They don't want to take on too much exposure to ​high prices, so they are using containers to meet their immediate needs."

Import-export activities between Bangladesh and India through Hili land port in Dinajpur resumed yesterday after remaining suspended for six days due to an indefinite strike by Indian traders.

Md Anwar Hossain, deputy director of the Customs Preventive Department at Hili land port, confirmed the resumption of activities to BSS around 4:30pm yesterday.

The activities resumed after Indian traders withdrew their indefinite strike at noon yesterday following assurances from the Indian government and administration.

With the reopening of the port, business activities have returned to normal, bringing renewed bustle among traders, customs officials, transport workers and others associated with the port.

Md Shahinur Islam Mondal, general secretary of the Hili Customs C&F Agents Association, said many traders at Hili in India had been suffering financial losses as the port was lagging behind other land ports in West Bengal in terms of commercial competition.

He said a section of the traders had decided to suspend import-export activities indefinitely over the issue, resulting in a complete halt to the movement of goods between the two countries through Hili land port for the past six days.

By 4:30pm, five trucks carrying imported Indian goods had entered Bangladesh through the port.

After the resumption of trade, Bangladeshi cargo trucks also started entering India, while trucks carrying various goods from India began entering Bangladesh. Arrangements were made for the immediate unloading of imported goods, and cleared consignments were transported to different parts of Bangladesh by local trucks, port authorities said.

Meanwhile, SI Md Zakaria, officer-in-charge of Hili Immigration Checkpost, said the movement of passport-holding passengers between the two countries had remained normal despite the suspension of import-export activities.

He said passenger movement through the immigration checkpost was continuing smoothly.

Bangladesh's per capita debt stood at Tk1,29,239 as of 31 March 2026, Finance Minister Amir Khosru Mahmud Chowdhury told parliament today (6 September).

He disclosed the figure in response to a question from Kushtia-1 lawmaker Reza Ahmed during the question-and-answer session in parliament.

The finance minister said the government was prioritising higher revenue collection, efficient management of public finances and disciplined debt management to reduce the debt burden on citizens.

The government is also taking steps to reduce its reliance on borrowing by increasing its own revenue, while seeking to lower financing requirements through more cost-effective and productive public spending and by curbing unnecessary expenditure, he said.

Khosru said the government was also placing greater emphasis on debt management to keep the country's borrowing requirements under control.

In another response to question from Cox's Bazar-3 lawmaker Lutfor Rahman, Khosru said Bangladesh had borrowed $81.83 billion from abroad between 2010 and June 2024.

During the same period, the government repaid $17.11 billion in principal and $6.04 billion in interest on its external debt.

Shares of Sharp Industries PLC have plunged 56% in 16 trading sessions on the Dhaka Stock Exchange (DSE), following a sharp rally that prompted the Bangladesh Securities and Exchange Commission (BSEC) to order an investigation into the company's abnormal share price movement and trading activities.

According to DSE data, the share price fell from Tk44.10 on 12 August to Tk19.50 today(6 September), losing Tk24.60, or nearly 56%, in 16 trading sessions.

The decline came after the stock had more than doubled in value in less than two months. On 15 June, the share was trading at around Tk17. It subsequently surged to Tk44.10 on 12 August, gaining Tk27.10, or around 156%, in nearly eight weeks.

Following the unusual rise in the share price and trading volume, the BSEC instructed the DSE to investigate the company's trading activities. Earlier, the DSE had sought an explanation from Sharp Industries regarding the abnormal movement.

The company informed the DSE that it had no undisclosed price-sensitive information that could explain the unusual movement in its share price.

The DSE investigation is expected to examine the trading pattern of the company's shares and determine whether there was any market manipulation, unusual or coordinated trading, misuse of inside information or violation of securities laws and regulations.

The sharp fall has now erased a significant portion of the gains recorded during the stock's rapid rally. The share price is currently more than 55% below its 12 August peak.

The unusual price movement has come at a time when the textile spinning company is facing significant operational challenges, particularly shortages of electricity.

Power shortages have reduced the company's production by around 40%, according to company information. Sharp Industries has production capacity of around 70 tonnes of yarn per day, but its current output has fallen to about 42 tonnes.

The company operates around 1,20,000 spindles. The production disruption has also put pressure on its financial performance.

During the first nine months of fiscal year 2025-26, the company reported revenue of around Tk257 crore but incurred a net loss of Tk65 crore. Its loss per share stood at Tk2.16, while net asset value per share was Tk7.92 as of March 2026.

In the January-March quarter, the company generated around Tk56 crore in revenue and incurred a loss of approximately Tk21 crore. Its accumulated losses stood at around Tk78 crore at the end of March.

Despite the financial pressure, the company sees several factors that could support its business recovery.

According to the company, it has confirmed orders for six months, while yarn prices have increased. Higher export incentives and reduced pressure from India's anti-dumping measures are also expected to support the business.

The company expects that an improvement in electricity supply would allow it to increase production, utilise more of its existing capacity and fulfil its confirmed orders. It also sees an opportunity to secure additional orders as production disruptions at competing factories constrain market supply.

Shares of Aamra Networks Limited plummeted by 10.60% today (6 September), hitting a multi-year low after the company recommended a nominal 1-paisa dividend for its general shareholders for the fiscal year ended 30 June 2025.

The sharp decline in the stock price followed the removal of standard price limits (circuit breakers) for the session, a typical regulatory procedure following a corporate dividend declaration.
According to a price-sensitive statement filed with the Dhaka Stock Exchange (DSE), the company's board recommended a 0.10% cash dividend, equivalent to Tk0.01 or 1 paisa per share. The payout is exclusively for general shareholders, while sponsors and directors, who collectively hold 3.07 crore shares, will receive no dividend. The total payout to public shareholders' amounts to just Tk6.22 lakh.

The announcement triggered heavy selling, sending the share price down to Tk17.70 from its previous close.
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The investor backlash comes on the heels of a disastrous financial report. For FY25, Aamra Networks reported an earnings per share (EPS) of just Tk0.13, a massive drop from the Tk2.46 recorded in the previous fiscal year.

The company's liquidity position has also turned critical. Its net operating cash flow per share (NOCFPS) swung to a negative Tk0.69 from a positive Tk2.72 a year earlier, while its net asset value (NAV) per share edged down to Tk36.14.

Management attributed the collapse in profitability to a combination of falling sales and rising operating costs. However, a senior official at Aamra Networks, speaking on condition of anonymity, revealed a deeper systemic crisis.

"The company is grappling with an acute fund shortage primarily because our corporate clients have failed to clear significant dues for services rendered. This has essentially crippled our cash flow and operational flexibility," the official said.

Aamra Networks has been struggling to regain its market standing since being downgraded to the 'Z' or junk category in February 2025 after failing to disburse an approved 10% dividend for FY24

The company also faces further administrative hurdles. As it failed to hold its Annual General Meeting (AGM) within the legally mandated timeframe, it must now seek High Court permission to convene the meeting and finalise the 1-paisa dividend.

The record date for the dividend has been set for 24 September 2026.

Bangladesh's gross foreign exchange reserves have reached $36.38 billion, underscoring a cautious stabilisation of the country's external finances.

According to data released by Bangladesh Bank, reserves calculated under the International Monetary Fund’s rigorous manual (BPM6) stood at $31.47 billion on Sunday.

The current reserve position points to a steady accumulation of foreign currency, driven largely by remittance inflows and export receipts.

While global commodity pricing and debt servicing continue to test the economy, $31.47 billion usable reserves provide the central bank with headroom to manage exchange rate volatility.

Even at the higher end of the import bill ($6.5 billion per month), the BPM6 reserves provide about 4.8 months of cover.

This remains above the IMF’s standard minimum safety threshold, which recommends maintaining at least three months of import coverage to absorb external economic shocks.