United News of Bangladesh

The price of Brent crude oil dropped below $70 per barrel on Monday for the first time since the latest round of hostilities between Iran and Israel began. The decline came after Iran launched retaliatory attacks on Monday in response to US airstrikes over the weekend targeting three Iranian nuclear facilities. The strikes resulted in no casualties but triggered a sharp fall in oil prices, with Brent crude losing around 8.6% as of 0900 GMT. In retaliation, Iran fired missiles at Al Udeid Air Base in Qatar, the largest American military installation in the Middle East. US President Donald Trump, in a social media post, thanked Iran for providing advance notice of the attack, which he said helped avoid any casualties. Stocks rise, oil drops as Wall Street hopes for limited US retaliation on Iran “Perhaps Iran can now move toward peace and harmony in the region, and I will strongly encourage Israel to do the same,” Trump added. At the time of reporting, Brent crude was trading at $69.40 per barrel, down 8.64%. Prices were at $65 earlier this month and surged to $77 during the peak of clashes last week. Source: With inputs from Anadolu 

The International Monetary Fund (IMF) has finally approved a $1.3 billion disbursement of the third and fourth tranches of Bangladesh's $4.7 billion loan program. As a result, it is set to receive a significant boost to its foreign exchange reserves, with the IMF approving the disbursement of US$1.3 billion from its ongoing $4.7 billion loan program.  This amount, covering both the third and fourth tranches, is expected to be deposited into Bangladesh's account on June 26. Economist Abu Ahmed questions logic behind complying with all IMF conditions The news was confirmed by Bangladesh Bank Governor Ahsan H. Mansur on Monday night, who stated, "We are receiving $1.3 billion. It has been approved by the IMF board today." Sources from the Finance Division of the Ministry of Finance and Bangladesh Bank indicate that the approval came during a meeting of the IMF's Executive Board at its headquarters in Washington D.C., held late Monday Bangladesh time. During the meeting, reports from the third and fourth reviews of Bangladesh's loan program were presented and subsequently approved. The IMF initially approved the $4.7 billion loan proposal for Bangladesh on January 31, 2023, for a period of three and a half years.  IMF finally agrees to release $1.3bn loan tranche for Bangladesh in June At the time, the IMF stated that the loan program aimed to help Bangladesh maintain macroeconomic stability, protect vulnerable and marginalized populations, and foster inclusive and environmentally sustainable growth. The then-Awami League government had sought the loan primarily due to a widening current account deficit, depreciation of the Bangladeshi Taka, and declining foreign exchange reserves. The release of these two tranches is expected to provide much-needed support to Bangladesh's economy, which has been grappling with external sector challenges.

Bangladesh's apparel exports to the European Union (EU) witnessed a notable surge, reaching US$8.07 billion during the January-April period of 2025, up significantly from $6.51 billion in the same period of 2024. This impressive growth represents a 23.98 percent rise in the country’s readymade garment (RMG) exports, largely fuelled by a 19.71 percent increase in export volume. According to Eurostat, the EU’s global apparel imports also saw substantial growth in the first four months of 2025, rising by 14.21 percent to a total of $32.49 billion. This overall rise was accompanied by a notable 15.84 percent increase in volume, despite a slight 1.41 percent drop in average unit prices. Bangladesh's RMG exports show moderate growth, EU remains key market Bangladesh’s performance is particularly commendable for its rising unit prices across various categories within the EU, even as China maintains its leading position and Vietnam continues to post strong results. The sector, however, faces several challenges, including growing tensions in the US market and intensifying competition from China within the EU. Besides, the ongoing conflict between Iran and Israel poses significant concerns for businesses, causing trade disruptions and increased operational costs. Industry experts stress the importance of Bangladesh maintaining its competitive edge and planning strategically for sustained growth in the EU market. This includes strict compliance with forthcoming EU regulations, which are expected to influence the volume of work orders from 2025 onwards. At the same time, continued efforts to explore new markets are considered vital for diversifying Bangladesh’s export portfolio and reducing dependence on the EU and US markets. A comparative analysis of major apparel exporters to the EU during this period reveals substantial growth among several countries: China’s apparel exports to the EU reached $8.39 billion, up from $6.90 billion in the same period of 2024—an increase of 21.49 percent in value and a notable 7.37 percent rise in unit price.Vietnam posted a 15.62 percent growth, with exports totalling $1.48 billion, alongside a 5.68 percent increase in unit price. Bangladeshi apparel exports to US market grow slightly amid global market pressure India, Pakistan, and Cambodia recorded exports of $2.01 billion, $1.42 billion, and $1.56 billion respectively, with growth rates of 20.58 percent, 23.42 percent, and 31.78 percent. In contrast, Turkey experienced a 5.41 percent decline in apparel exports to the EU, totalling $3.10 billion during January-April 2025.

Bangladesh has received a record-high inward remittance of $29.5 billion so far in the current fiscal year (2024–25), marking the highest amount ever recorded in a single fiscal year. According to the Bangladesh Bank, from July 1, 2024, to June 21, 2025, the expatriates sent $29.5 billion remittance. In FY2023–24, inward remittance grew by 26.7 percent to reach $23.28 billion. The expatriates sent $1.98 billion remittance in 21 days of the current month --June. Earlier this month, Central bank Governor Dr Ahsan H Mansur expressed satisfaction over the flow of remittance earning. Bangladesh’s remittance growth almost 25 percent in outgoing fiscal He then claimed that remittance will be reached at $30 billion in the FY2024- 25, as people's trust in the country’s financial system is restored. The expatriates sent $27.5 billion remittance in 11 months (July-May) of the current FY2024- 25. Except for July 2024, the remittance crossed $2 billion so far. The scenery of 11 months remittance is as follows- May $2.97 billion April: $2.75 billion March: $3.29 billion February: $2.53 billion. January: $2.19 billion December: $2.64 billion November $2.2 billion October: $2.39 billion September: $2.4 billion August: $2.22 billion July: $ 1.91 billion  

Hyundai motor company's vehicle exports from its US plant dropped significantly last month, according to industry data released Sunday, as the South Korean automaker steps up production realignment strategies in response to intensifying tariff pressures. Hyundai Motor Manufacturing Alabama (HMMA), the company’s US production unit, exported just 14 vehicles in June, a dramatic fall from 1,303 units in the same month last year and 2,386 in May, Yonhap reported. This marked the first time HMMA’s monthly exports fell below 100 units since April 2020, during the early phase of the COVID-19 pandemic. HMMA exported a total of 22,600 vehicles last year. Industry insiders attributed the plunge to Hyundai’s production realignment strategy aimed at minimizing the effects of Washington’s tariff policies, which currently impose a 25 percent duty on all imported vehicles. China's foreign trade demonstrates resilience despite challenging global environment Hyundai motor, which exported 637,000 vehicles to the United States last year, is reportedly considering redirecting US-produced vehicles to the domestic market rather than exporting them overseas. To reduce tariff exposure, the company previously announced plans to expand production capacity in the United States by increasing output at its Alabama and Georgia plants to meet local demand. Concurrently, it will cut production of US-bound models at Kia Corp.’s plant in Mexico. "In order to minimize the impact of US tariffs, we have implemented measures to shift Tucson production from Mexico to HMMA and moved HMMA's Canadian-bound production to Mexico," a Hyundai official said during an earnings call in April. Reflecting that shift, Hyundai shipped around 2,100 units of the Tucson crossover from Mexico in February. That number fell to 522 in March and has remained at zero since April.

Tianjin Port, recognised as one of China’s leading modern comprehensive ports and the world’s highest-grade artificial deep-water port, continues to expand its global reach. Connecting with over 500 ports across more than 200 countries and regions, it operates more than 40 sea-rail multimodal routes and 147 container shipping lines. In recent years, the port has shifted its focus towards intelligent shipping services, transforming into a comprehensive port and logistics operator. As part of the “China Up Close: Tianjin Tour,” journalists from various countries recently visited the port. The visit was co-hosted by China Global Television Network (CGTN) and the Tianjin Municipal People's Government. During the tour, journalists observed the port’s operations, which are powered entirely by clean energy. In 2019, President Xi Jinping visited Tianjin Port and instructed authorities to digitalise the facility. Since then, the port has focused on implementing digital technologies, achieving automation across several sectors, according to a port official. "We offer our partners online services through a single station, and many new methods are currently being trialled to enhance our service efficiency," said the official. Feng Miao, Manager of Operation Management at Tianjin Port, said that the port utilises its own global navigation satellite system, BeiDou (BDS), for precise positioning and navigation. Furthermore, all dispatching and instructions within the port are managed by Huawei, which has contributed to increased operational efficiency, he added. Tianjin Port handles various types of cargo, including liquid bulk, general cargo, roll-on/roll-off (RoRo) vehicles, and containers, facilitating seamless connections with ports worldwide. The port is also equipped to manage specialised cargo such as metal ore, coal, oil, automobiles, steel, and grain.

Bangladesh has showcased strong and growing participation in this year's China South-Asia Expo, underscoring the nation's dedication to strengthening regional cooperation and expanding economic partnerships. The expanded engagement highlights Bangladesh’s strategic efforts to promote trade, investment, and collaboration across South Asia and beyond. When asked about the changes in participation, Bhuyan Muhammad Hussain, Vice President of the China-Bangla Friendship Association, noted significant developments.  

Crude oil prices declined slightly and Asian stock markets showed mixed performance on Friday, as investors awaited signals on whether the U.S. would intervene in the ongoing conflict between Israel and Iran. U.S. stock futures also inched down following the Juneteenth holiday closure on Wall Street. West Texas Intermediate (WTI) crude dropped 24 cents to $73.64 per barrel, while global benchmark Brent crude slipped 18 cents to $76.56. Oil prices have remained volatile amid growing concerns that the Iran-Israel conflict could disrupt global crude supplies. Iran is a key oil producer and controls the Strait of Hormuz, a critical chokepoint for global oil shipments. Investor sentiment remained cautious after the White House indicated former President Donald Trump may make a decision within two weeks on whether to launch strikes against Israel, though diplomatic avenues remain on the table, according to trader Anderson Alves of ActivTrades. “Tensions between Iran and Israel continued to weigh on risk appetite,” Mizuho Bank noted in a commentary. Meanwhile, Tokyo’s Nikkei 225 slipped 0.2% to 38,403.23 after core inflation rose to 3.7% in May, complicating policy decisions for Prime Minister Shigeru Ishiba and the central bank. ING’s Min Joo Kang said the Bank of Japan is likely to focus more on the potential impact of U.S. tariffs on Japan’s economic recovery. China-South Asia Expo kicks off focused on trade and regional connectivity Elsewhere, Hong Kong’s Hang Seng rose 0.8%, the Shanghai Composite dipped 0.1%, Australia’s ASX 200 fell 0.2%, and South Korea’s Kospi advanced 1.5%. The Bank of England kept its key interest rate steady at 4.25%, citing escalating geopolitical risks. In currency markets, the U.S. dollar eased to 145.37 yen, while the euro edged up to $1.1521. Source: With inputs froma agency 

Speakers at a high-level workshop stressed the need for improving hatchery quality and workforce skills to ensure the sustainable growth of Bangladesh’s poultry sector. A key challenge identified is the excessive fluctuation in chick (Day-Old Chicks- DOC) production, which is causing instability in supply and pricing, ultimately threatening small-scale hatcheries and market balance. Fluctuations in chicken prices significantly impact the production of Day-Old Chicks (DOCs). When market prices are high, hatcheries often respond with overproduction, which eventually drives down prices and affects profitability for both hatcheries and farmers. Conversely, when chicken prices fall, DOC production declines sharply, leading to shortages of poultry and eggs. This cyclical imbalance contributes to market volatility and poses serious sustainability challenges for hatchery operators. This concern was raised during the closing ceremony of a three-day training workshop titled ‘Hatchery Management’, held from June 16 to 18 at a hotel in Gulshan, Dhaka. The event was part of the PoultryTechBangladesh project and was jointly organized by Larive International, LightCastle Partners, Axon Limited, and Royal Pas Reform, with support from the Embassy of the Kingdom of the Netherlands. The objective of the workshop was to provide practical recommendations and technical guidance to hatchery owners, staff, and other stakeholders on building and operating modern, high-quality hatcheries aligned with global standards. In addition to production fluctuations, the training highlighted several pressing challenges in the sector: Hatching inefficiencies, inadequate storage and transportation, poor hatchery management, lack of modern incubation technology, environmental impact and disease outbreaks, limited access to advanced technology, shortage of skilled manpower, marketing and distribution challenges Speakers emphasized that these issues can be addressed through improved production planning and farm management tailored to market demand. Osman Haruni, Senior Policy Advisor at the Embassy of the Netherlands in Bangladesh; Mostafa Kamal, Secretary of the Bangladesh Poultry Industries Central Council (BPICC); and Zahidul Islam, Managing Director of Axon Limited, were among the distinguished speakers at the event. Shariatpur poultry farmers' dreams now stretch beyond Padma Bridge The keynote presentation on the PoultryTechBangladesh project was delivered by Naziba Ali, Business Analyst at LightCastle Partners. Participants highlighted that hatchery quality relies heavily on the use of advanced equipment, accurate hatching and incubation techniques, a conducive production environment, and a well-trained workforce. The workshop also stressed the importance of strengthening collaboration between Dutch technology providers and Bangladeshi companies to build a modern, tech-driven poultry sector. Training sessions were conducted by Gerd de Lange, Senior Poultry Specialist, and Lotte Hebnick, Incubation Specialist, both representing Royal Pas Reform, a global leader in hatchery solutions. A notable feature of the training was its focus on practical, hands-on knowledge in addition to theoretical learning. According to the latest data from BPICC, there are currently an estimated 90,000 to 100,000 hatcheries in Bangladesh. The sector employs around 6 million people, directly and indirectly. Demand for processed poultry products continues to rise steadily. Between 2016 and 2022, daily per capita chicken meat consumption increased from 17.3 grams to 26.2 grams. The commercial poultry industry is growing at an annual rate of approximately 15%, producing around 23.37 billion eggs and 1.46 million metric tons of poultry meat per year. Industry representatives noted that the poultry sector contributes approximately 1.6% to Bangladesh’s GDP. With poultry product demand expected to double by 2050, the sector holds significant potential for growth. However, realizing this potential will require focused investment in hatchery modernization, infrastructure development, and workforce skill enhancement.

Masrur Arefin, managing director and CEO of City Bank PLC, has been elected as the new chairman of the Association of Bankers, Bangladesh (ABB), a leading organization for top bankers. The appointment was made at a recent meeting of ABB's Board of Governors. He will serve in this interim capacity until the organization's next Annual General Meeting (AGM). The position of ABB chairman became vacant following the recent resignation of Selim R.F. Hussain from his role as MD & CEO of BRAC Bank PLC. City Bank to introduce inflation-adjusted wages in payroll In the same meeting, Mohammad Ali, managing director and CEO of Pubali Bank, was elected as the new Vice Chairman of ABB. Abul Kashem Md. Shirin, managing director and CEO of Dutch-Bangla Bank PLC, will continue to serve in his previous role as Vice Chairman.