Ethiopia has earned 1.226 billion U.S. dollars in revenue from coffee exports over the past eight months, the Ethiopian Coffee and Tea Authority (ECTA) said on Friday. Following several reforms taken by the government and pertinent stakeholders to gain the most out of the sector, the East African country exported more than 257,000 tonnes of coffee during the first eight months of the current 2024/2025 Ethiopian fiscal year, the ECTA said in a statement. The authority attributed the growing revenue to the government's reform, which resulted in increased coffee production, productivity, and quality, which in turn gave rise to higher export volumes. Ethiopia is projected to generate 2 billion dollars from coffee exports in the 2024/2025 Ethiopian fiscal year by exporting more than 400,000 tonnes of coffee. USPS partners with DOGE for reforms, plans 10,000 job cuts Regarded as the birthplace of Arabica coffee, Ethiopia earned over 1.4 billion dollars from coffee exports in the previous fiscal year. The ECTA said Saudi Arabia, Germany, and the United States have been the first three major export destinations of Ethiopian coffee during the period, while Belgium, South Korea, the United Arab Emirates, and China have taken from fourth to seventh positions.

While small and medium-sized enterprises (SMEs) maintained a strong position in Dhaka's capital market over the past week, the banking sector faced a significant setback following its previous upward trend. During the last five trading days, the SME index of the Dhaka Stock Exchange (DSE) surged by 3.58%. The index, which began the week at 970 points, increased by 34 points to close at 1,005 points. Not only the SME sector but also DSE’s main index saw an increase of 21 points by the end of the week. Besides, the selective blue-chip index, DS30, rose by 11 points, while the Shariah-based index gained 4 points. On the other hand, despite several weeks of bullish momentum, the banking sector faced a notable decline. Share prices in the banking sector dropped by 24.37% over the past week. As share prices began to decline, investors reduced their trading activities in the banking sector, resulting in a 25.30% decrease in the sector’s overall trading volume. Out of the 36 listed banks, share prices increased for 15 banks, declined for 16 and remained unchanged for 5. Alongside the banking sector, the financial institutions sector also struggled during the past five trading days. Among the participating financial companies, share prices increased for only 3 firms, fell for 13, and remained unchanged for 7. Mixed trends in stock markets: DSE gains, CSE declines in early trading Although indices saw gains, most companies in the market experienced price declines last week. Against the rise of 176 companies, share prices of 184 companies fell, while 34 companies remained unchanged. After an initial downturn on the first trading day of the week, March 9, investor sell-offs increased during the subsequent upturns. By the last trading day, 13 March, the average daily transaction volume on the Dhaka Stock Exchange stood at Tk 390 crore, compared to Tk 362 crore in the previous week. This represents a 7.78% increase in the average daily transaction volume over the week. The most traded stocks on the DSE last week were Orion Infusion, Beach Hatchery and Lovello. Among them, Orion Infusion topped the list with a 6.12% increase in trading volume. A majority of the top price-gaining stocks were from the B and Z categories, with only three A-category companies making it to the top 10 list. At the end of the weekly trading session, B-category company S Alam Cold Rolled Steels topped the price-gain chart. On the other hand, the biggest loser of the week was A-category company Alif Industries Limited, which saw an 11.47% drop in its share price over the week. Commenting on the dominance of weaker companies in the market, Minhaz Mannan Emon, a director at the DSE, stated that the stock market has yet to return to its normal state. He pointed out that market manipulators continue to take advantage of weak companies, while some investors invest in these stocks in an attempt to recover their losses quickly. As a result, B and Z category companies often dominate the top-performing stock lists. A member of the stock market reform task force, speaking on condition of anonymity, mentioned that reform efforts have already begun, but investor confidence is yet to be fully restored. He noted that once investors regain confidence, liquidity flow in the market will improve. Market analysts believe that the stock market will regain momentum if reputable companies invest in the market and foreign companies operating in Bangladesh launch Initial Public Offerings (IPOs).

U.S. Postmaster General Louis DeJoy has announced plans to cut 10,000 jobs and reduce the U.S. Postal Service (USPS) budget by billions, working in collaboration with Elon Musk’s Department of Government Efficiency (DOGE). The initiative, outlined in a letter to Congress on Thursday, also involves the General Services Administration in an effort to improve efficiency within the agency. DOGE will support USPS in tackling major operational challenges at the $78 billion-a-year organization, which has faced financial struggles in recent years. The agreement aims to streamline operations, including addressing mismanagement of retirement funds, the Workers’ Compensation Program, and various regulatory constraints that the letter describes as hindrances to “normal business practices.” “This initiative aligns with our ongoing reform efforts. While we have achieved significant progress, much more remains to be done,” DeJoy stated in the letter. However, critics argue that the proposed cuts could have severe consequences nationwide. Democratic Representative Gerald Connolly of Virginia, who received the letter, warned that DOGE’s involvement could undermine the Postal Service and push it toward privatization. “This surrender will have devastating effects on Americans—particularly those in rural and remote areas—who depend on USPS for essential services like mail, medication deliveries, and ballots,” Connolly said in a statement. Job cuts in tech sector spread, Microsoft lays off 10,000 USPS, which currently employs around 640,000 workers, plans to implement the job cuts within 30 days through a voluntary early retirement program, according to the letter. Neither USPS nor the Trump administration responded to requests for comment from The Associated Press. The postal agency had previously announced measures to reduce operating costs by more than $3.5 billion annually. In 2021, it eliminated 30,000 positions as part of broader cost-cutting efforts. Amid declining first-class mail volumes, USPS has struggled to remain financially viable while resisting calls for privatization, including proposals from former President Donald Trump to place the service under the Commerce Department’s jurisdiction. Brian L. Renfroe, president of the National Association of Letter Carriers, acknowledged the need for solutions to USPS’s challenges but opposed any moves toward privatization. “The Postal Service requires practical, common-sense solutions—not privatization efforts that jeopardize 640,000 jobs, 7.9 million related positions, and the universal mail service that Americans rely on daily,” Renfroe stated. DBS Bank to cut 4,000 jobs as AI replaces human roles DeJoy, a former logistics business owner and Republican donor, was appointed as postmaster general during Trump’s first term in 2020. His tenure has been marked by significant challenges, including the COVID-19 pandemic, increased mail-in voting, and efforts to mitigate financial losses through cost-cutting and service reductions. Source: With input from agency

The number of Tk1.0 crore and above has increased by 4,954 in three months, reflecting a regained confidence in the banking system.Banking sector experts say that money outside the banking system has started returning to the bank again. Wall Street edges lower ahead of US inflationAs a result, the number of deposits in the bank has increased. At the same time, the number of bank accounts of the wealthy has also started increasing.According to Bangladesh Bank's latest financial update, the number of accounts of individuals and institutions with more than Tk 1.0 crore and above has increased by 4,954 in three months. Currently, there are a total of 1,22,081 such account holders.According to the Central Bank, the total number of accounts in the banking sector up to December 2024 was 16.32 crore. The total deposit balance in these accounts stood at Tk18,83,711 crore. Stock market trends maintain upward momentum in Dhaka, ChattogramAt the end of September last year, the total number of accounts in the banking sector was 16,2028,155. These accounts had deposits of Tk18,250,33 crore. Accordingly, the number of accounts in the banking sector increased by 12,19,277 in three months. The volume of deposits increased by Tk45628 crore.The report said that at the end of December 2024, the number of bank accounts with deposits of more than Tk1.0 crore stood at 1,22,081, which was 1,17,127, three months ago in the September quarter. Bangladesh Bank reconstitutes boards of three private banksAccordingly, the number of accounts above Tk1.0 crore increased by 4954 in three months. Earlier, in the June quarter of last year, there were a total of 1,18,784 accounts deposited Tk 1.0 crore and above.

With anticipation growing over President Donald Trump's upcoming tariff announcements, Wall Street opened lower on Thursday ahead of key inflation and jobless claims data. Futures for the S&P 500 dropped 0.4%, while Dow Jones Industrial Average futures declined 0.2%. Nasdaq futures also fell, sliding 0.5%. Canada and the EU swiftly retaliate against Trump's steel and aluminum tariffs Intel emerged as one of the biggest gainers overnight, surging more than 11% after appointing semiconductor industry veteran and former board member Lip-Bu Tan as its new CEO. Tan, 65, is set to take on the challenging role next week, over three months after former CEO Pat Gelsinger’s abrupt retirement amid Intel’s ongoing downturn. Conversely, American Eagle Outfitters saw an early decline despite surpassing fourth-quarter sales and profit expectations. The retailer noted that an “uncertain consumer and operating landscape” was dampening demand for the current quarter. Its cautious outlook concerned investors, leading to a 9% drop in shares before the market opened. Uncertainty has dominated recent market trends, with fluctuations occurring each time President Trump announces—or postpones—a new round of tariffs. The market has been unsettled as investors and economists attempt to assess the extent of economic strain Trump is willing to impose through tariffs and other measures. In response to Trump’s tariff decisions, the European Union, Canada, and China have introduced retaliatory tariffs of their own. Even if Trump opts for less aggressive tariffs, the impact may still be significant. The continuous cycle of tariff announcements and reversals has already begun eroding confidence among U.S. consumers and businesses by amplifying uncertainty. This could lead to reduced spending by households and companies, slowing overall economic growth. Asian markets slip despite Wall Street rebound amid trade war uncertainty Some U.S. businesses report that customer behavior has already begun to shift. Later on Thursday, new government data will be released regarding inflation at the wholesale level, along with a report detailing the number of Americans who filed for jobless benefits in the past week. In European markets, Germany’s DAX was down 0.4% by midday, while France’s CAC 40 rose 0.1%. Meanwhile, Britain’s FTSE 100 remained unchanged. Asian markets experienced broad declines as investors monitored developments in Trump’s trade policies. Hong Kong’s Hang Seng index fell 0.6% to 23,462.65, while the Shanghai Composite index slipped 0.4% to 3,358.73. Japan’s Nikkei 225, which initially gained, closed 0.1% lower at 37,790.03. South Korea’s Kospi inched down 0.1% to 2,573.64, while Australia’s S&P/ASX 200 declined 0.5% to 7,749.10. Elsewhere, Taiwan’s Taiex dropped 1.4%, India’s Sensex slipped 0.1%, and Bangkok’s SET edged up 0.1%.

Canada and the European Union responded quickly to President Donald Trump’s new tariffs on aluminum and steel imports, imposing hefty retaliatory measures on a wide range of U.S. products, from textiles and electronics to bourbon and motorcycles. Canada, the largest steel and aluminum supplier to the U.S., announced Wednesday that it would apply a 25% counter-tariff on steel products while also increasing duties on items such as tools, computers, display monitors, sports equipment, and cast-iron goods. Meanwhile, the EU plans to hike tariffs on American beef, poultry, whiskey, peanut butter, jeans, and motorcycles—targeting industries based in both Republican and Democratic strongholds. Economic Impact & Global ResponseThe retaliatory tariffs are expected to cost businesses billions, leading to either reduced profits or higher prices for consumers. “Prices will rise in both Europe and the United States, and jobs are at risk,” said European Commission President Ursula von der Leyen. “Tariffs are taxes. They hurt businesses and, even more, they hurt consumers.” The EU strategically targeted products from key U.S. states, affecting goods from Kansas and Nebraska (beef and poultry), Alabama and Georgia (wood products), and Illinois (soybeans). The European spirits industry has also been caught in the crossfire, with whiskey producers expressing concerns over the impact on their export markets. Could There Be a Trade Deal?Despite the escalating tensions, von der Leyen stated that the EU remains open to negotiations. Canada’s incoming Prime Minister Mark Carney also signaled a willingness to meet with Trump, provided there is mutual respect and a broader trade discussion. “The greatest economic and security partnership in the world can be renewed and relaunched—but only if we approach it comprehensively,” Carney said. Trump's 25% tariffs on all steel and aluminum imports go into effect The American Chamber of Commerce to the EU warned that continued tariff battles would harm jobs, economic growth, and transatlantic security, urging both sides to seek a resolution. A Familiar PatternThis is not the first time Trump has imposed steep tariffs on the EU’s steel and aluminum exports. Similar actions during his first term prompted European countermeasures, including higher tariffs on U.S. whiskey, peanut butter, and jeans. The EU’s response this time will occur in two phases: April 1: The bloc will reinstate tariffs that were previously in place between 2018 and 2020 but suspended under the Biden administration.April 13: Additional duties will be imposed on $19.6 billion worth of U.S. exports.EU Trade Commissioner Maroš Šefčovič, who traveled to Washington last month to discuss trade concerns, said the EU had tried to prevent escalation. “I argued against unnecessary measures and countermeasures,” he said, “but it takes two to negotiate.” Canada’s CountermeasuresAs of 12:01 a.m. Thursday, Canada has implemented 25% tariffs on steel imports worth CAD 12.6 billion (USD 8.7 billion) and aluminum imports worth CAD 3 billion (USD 2 billion). Additional U.S. goods totaling CAD 14.2 billion (USD 9.9 billion) will also face new tariffs, bringing the total to CAD 29.8 billion (USD 20.6 billion). These tariffs come on top of the CAD 30 billion (USD 20.8 billion) in countermeasures that Canada imposed on March 4 in response to previous Trump administration tariffs, which were delayed by a month. Steel Industry ConcernsThe European steel industry is bracing for significant losses. The EU could lose up to 3.7 million tons of steel exports, according to Eurofer, the European steel association. The U.S. is the EU’s second-largest export market for steel, accounting for 16% of total exports. Japan's trade minister fails to win US assurances on tariff exemptions Despite trade tensions, the EU and the U.S. maintain a robust economic relationship, with annual trade between the two totaling approximately $1.5 trillion—roughly 30% of global trade. While the EU enjoys a surplus in goods exports, it points out that the U.S. has a trade surplus in services, helping to balance the overall economic relationship. Source: With input from agency

Asian markets mostly declined on Thursday, even as Wall Street recovered following a positive update on U.S. consumer prices. U.S. futures edged lower, while oil prices remained relatively stable. Investor focus remained on trade tensions, particularly in China, where markets retreated as traders awaited further developments in former President Donald Trump’s trade policies. Hong Kong’s Hang Seng index dropped 0.7% to 23,426.80, while the Shanghai Composite index fell 0.4% to 3,357.02. Japan’s Nikkei 225, however, bucked the trend, rising 0.5% to 37,014.82. South Korea’s Kospi dipped 0.1% to 2,573.05, while Australia’s S&P/ASX 200 lost 0.4% to 7,756.10. Taiwan’s Taiex also fell 0.4%, and Thailand’s SET slipped 0.1%. India’s Sensex managed a modest 0.1% gain. Wall Street’s Mixed PerformanceOn Wednesday, the S&P 500 climbed 0.5% to 5,599.30 after fluctuating between gains and losses throughout the session. The index had briefly fallen more than 10% below its record high set last month. Asian markets mixed as DeepSeek boosts Chinese tech stocks The Dow Jones Industrial Average saw similar volatility, ultimately closing down 0.2% at 41,350.93, while the Nasdaq composite rose 1.2% to 17,648.45. A new U.S. inflation report showed consumer prices increased at a slower pace than expected last month, offering some relief to investors. AI Stocks ReboundStocks tied to artificial intelligence helped lead the market’s recovery. Nvidia surged 6.4%, trimming its losses for the year to 13.8%. Super Micro Computer, a server manufacturer, gained 4%, while GE Vernova, which supports AI data centers, advanced 5.1%. Tesla also rebounded, rising 7.6%—its first consecutive daily gains in nearly a month—after seeing its stock price more than halve since mid-December. Trade War FalloutDespite the broader rebound, more stocks in the S&P 500 fell than rose. Companies exposed to trade tensions suffered sharp losses. Brown-Forman, the maker of Jack Daniel’s whiskey, dropped 5.1%, while Harley-Davidson tumbled 5.7%. Both companies face European Union tariffs in retaliation for Trump’s 25% duties on steel and aluminum, which took effect earlier in the day. Canada also responded with tariffs on U.S. goods, including tools and sports equipment. “Tariffs are essentially taxes,” said European Union President Ursula von der Leyen. “They hurt businesses and consumers alike.” Asian markets are mixed after Wall Street edges back from its record The uncertainty surrounding Trump’s trade policies continues to weigh on investor sentiment. While some believe he may implement milder tariffs, the constant shifts in trade policy have already affected confidence among U.S. consumers and businesses. This uncertainty could lead to reduced spending, slowing economic growth. For instance, on Tuesday, Trump initially announced he would double tariffs on Canadian steel and aluminum but later reversed course after a Canadian province agreed to drop a retaliatory measure. Business ReactionsSome U.S. companies are already seeing shifts in consumer behavior. Delta Air Lines fell 3%, extending a 7.3% decline from the previous day after the airline reported weakening demand for last-minute bookings. Meanwhile, Casey’s General Stores, a convenience store chain based in Iowa, provided a bright spot. Its stock jumped 6.2% after posting stronger-than-expected earnings and revenue, driven by solid sales of hot sandwiches and fuel. The company also reaffirmed its revenue outlook for the year. Inflation & The FedThe latest inflation report arrives as concerns grow that Trump’s tariffs could drive prices higher by increasing costs for importers, which may be passed on to consumers. The Federal Reserve had been cutting interest rates last year to support the economy but has paused this year, partly due to persistent inflation worries. The latest data may influence the central bank’s next moves. Stock market today: Asian markets mostly higher after Biden-McCarthy deal on US debt Oil & Currency MarketsIn early Thursday trading, U.S. benchmark crude dipped 11 cents to $67.57 per barrel, while Brent crude, the global benchmark, slipped 5 cents to $70.90 per barrel. In currency markets, the U.S. dollar weakened to 147.88 Japanese yen from 148.25 yen, while the euro edged up slightly to $1.0889 from $1.0887. Source: With input from agency

Bangladesh Bank has reconstituted the boards of directors of three private banks in its latest move to reform troubled financial institutions. This marks the central bank’s second initiative to overhaul the boards of struggling banks. The three banks are NRBC Bank PLC, NBR Bank PLC and Meghna Bank PLC. In the newly formed board of NRBC Bank, former Krishi Bank Managing Director Md. Ali Hossain Prodhania has been appointed as Chairman. Other board members include former Bangladesh Bank Executive Directors Md. Abul Bashar and Md. Anowar Hossain, former Sonali Bank Deputy Managing Director Md. Nurul Hoque, Supreme Court lawyer Barrister Md. Shafiqur Rahman, American International University–Bangladesh (AIUB) Professor Dr. Syed Abul Kalam Azad, and Chartered Accountant Muhammad Emdad Ullah. Bangladesh Bank halts exchange of new notes for Eid At NBR Bank PLC, entrepreneur-shareholder Iqbal Ahmed has been appointed as Chairman. The new board consists of former Grameen Bank Board Member Ferdous Ara Begum, former Bangladesh Bank Executive Director Sheikh Md. Selim, former Mercantile Bank Managing Director Md. Kamrul Islam Chowdhury, former Prime Bank Deputy Managing Director Sheikh Matiur Rahman, North South University Professor Sharif Nurul Ahkam, and Chartered Accountant Mizanur Rahman FCA. Meanwhile, the restructuring of Meghna Bank's board is still in progress. According to insiders, Bangladesh’s banking sector has been grappling with a prolonged crisis, which has intensified over the last two years. Key issues include the dominance of influential groups over bank management, misappropriation of funds under the guise of loans, large-scale money laundering, mounting defaulted loans, severe liquidity shortages and the ongoing dollar and foreign reserve crisis. Following the change in government on August 5, Bangladesh Bank dissolved the boards of 11 banks, including Islami Bank—formerly controlled by the S Alam Group—and appointed new boards. Bangladesh Bank reduces CRR to increase cash flow in banks This latest intervention marks the second restructuring effort by the central bank under the tenure of Governor Dr. Ahsan H. Mansur.

Wall Street experienced some relief after an encouraging report revealed that inflation eased more than anticipated last month, allowing stocks to recover a portion of their steep losses from recent weeks. The S&P 500 climbed 1% in early trading Wednesday, following a brief dip a day earlier of more than 10% below its record high set last month. Vision unveils affordable 4D Ultra series air conditioner The Dow Jones Industrial Average gained 251 points, while the Nasdaq composite rose by 1.8%. Leading the gains were Big Tech stocks, which had previously suffered due to concerns that their valuations had become excessively high in recent years. Tesla, whose stock price had fallen by more than half since mid-December, rebounded with a 7% increase. U.S. futures and oil prices showed an upward trend. France's CAC 40 edged up 0.9% in early trading to 8,014.58, while Germany's DAX jumped 1.5% to 22,644.81, and Britain's FTSE 100 rose 0.5% to 8,542.24. U.S. shares appeared poised to move higher, with Dow futures gaining nearly 0.1% to 41,510.00 and S&P 500 futures climbing 0.6% to 5,610.00. The escalation of Trump's trade war has unsettled global markets. He increased tariffs on Canadian steel and aluminium, leading Ontario to remove a surcharge that had sparked his ire. Japan's benchmark Nikkei 225 remained mostly unchanged, rising by less than 0.1% to 36,819.09. Meanwhile, Hong Kong’s Hang Seng fell 0.9% to 23,566.42, while the Shanghai Composite slipped 0.2% to 3,371.92. Australia's S&P/ASX 200 dropped 1.3% to 7,786.20, whereas South Korea's Kospi advanced 1.5% to 2,574.82. Market sentiment remained subdued due to uncertainty over how much economic strain Trump is willing to endure to achieve his objectives. “Trump’s tariff policies continue to create instability in markets, leaving investors uncertain about which measures will be introduced or revoked next,” said Tim Waterer, chief market analyst at KCM Trade. Actions taken by Trump and remarks from the White House on Tuesday provided little clarity. White House press secretary Karoline Leavitt stated, “The president will look out for Wall Street and for Main Street.” Recent market fluctuations have been accompanied by further warning signs regarding the economy, as Trump’s inconsistent tariff implementation generates confusion and pessimism among U.S. households and businesses. These tariffs have the potential to directly harm the economy by driving up costs for American consumers and disrupting global trade. Even if their impact is less severe than feared, the constant uncertainty may deter U.S. businesses and consumers from investing or spending. In energy markets, benchmark U.S. crude rose by 34 cents to $66.59 per barrel, while Brent crude, the global standard, increased by 31 cents to $69.87 per barrel. Stock market trends maintain upward momentum in Dhaka, Chattogram In currency trading, the U.S. dollar strengthened to 148.50 Japanese yen from 147.78 yen, while the euro inched up to $1.0921 from $1.0919.

Vision has introduced its new 4D Ultra Series air conditioners (ACs), designed to meet the diverse needs and preferences of customers. RN Paul, Managing Director of RFL Group unveiled the new series of ACs at a function held at Fuji Trade Center in the capital’s Badda recently, according to a press release. RN Paul said, "While buying an AC, many people hesitate whether to buy a good quality AC or consider the budget. To solve this problem and keeping the weather of Bangladesh and customer service in mind, Vision Electronics has brought the completely new 4D Ultra Series AC. Three types of 4D Ultra Series ACs—Regular, Inverter, and Inverter Hot & Cool (with WiFi technology)—will be available with advanced technology at prices 15-18% lower than before." Shohoz partners with Benchmark PR to strengthen brand communication He further said, " Vision Electronics always sets product prices with utmost importance to customer needs, affordability and convenience." Nur Alam, Executive Director of Vision Refrigerators and AC, said that the highest quality components have been used in the 4D Ultra series of Vision AC, ensuring long-lasting and effective performance. It has 100% copper tube, which ensure long-lasting performance and fast cooling of the AC. It uses R32 refrigerant, which is environmentally friendly. He also mentioned that this series incorporates dual inverter technology, which saves up to 70% of electricity. Moreover, the ACs can be controlled remotely via a mobile app, allowing users to operate them from anywhere at any time. Xiaomi Redmi Note 14 launched in Bangladesh Mohit Chakraborty, Head of Marketing of Vision AC, along with senior officials of the company, were present at the event. A total of nine models of 4D Ultra series ACs are available in the market, priced between Tk 43,900 and 77,900.