United News of Bangladesh

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has welcomed a significant new trade agreement between Bangladesh and the United States, signed today (Tuesday) following nine months of intensive bilateral discussions. The agreement introduces a strategic reduction in reciprocal tariffs and provides a major boost for garments made from USA raw materials. In its initial response, BGMEA expressed sincere gratitude to the USA Government and the Office of the United States Trade Representative (USTR), as well as to Chief Adviser Dr. Muhammad Yunus and the interim government’s leadership for their roles in achieving this milestone. BGMEA secures special healthcare benefits for members Reciprocal Tariff Reduction: The standard tariff on Bangladeshi products in the U.S. market will be reduced from 20 percent to 19 percent. Zero-Tariff Provision: Notably, garments manufactured in Bangladesh using cotton and man-made fibers imported from the United States will be exempt from reciprocal tariffs. Market Expansion: BGMEA believes these provisions will significantly enhance Bangladesh’s competitive edge and access to the USA market. To maximize these benefits, BGMEA emphasized the need for local spinners to ensure competitive yarn pricing, particularly since USA cotton is of superior quality but comes at a higher cost. The association also noted that ensuring the traceability and proper valuation of USA origin raw materials will be critical for exporters. BGMEA Instructs Factories Not to Respond to RSC Letters on Non-OSH Complaints

Asian stock markets mostly advanced on Tuesday, led by strong gains in Japan as investor confidence improved following a landmark election victory. Japan’s benchmark Nikkei 225 jumped 2.6 percent to 57,821.58, setting a new record. The index extended its rally from Monday, when it surged after the ruling party’s landslide win in parliamentary elections cleared the way for Sanae Takaichi to become the country’s first female prime minister. Investors are betting that the new leadership will push ahead with economic reforms that could support growth and corporate earnings. Elsewhere in the region, Australia’s S&P/ASX 200 rose 0.3 percent to 8,893.60, while South Korea’s Kospi gained 0.6 percent to 5,327.80. Hong Kong’s Hang Seng climbed 1.0 percent to 27,300.00, and China’s Shanghai Composite added 0.2 percent to 4,130.20. On Wall Street, US stocks closed higher, coming off their strongest session since May, although concerns remain that equity valuations have become stretched after the recent rally. The S&P 500 rose 0.5 percent to 6,964.82, edging closer to its all-time high. The Nasdaq composite gained 0.9 percent, while the Dow Jones Industrial Average was little changed. Investors continue to watch whether massive spending on artificial-intelligence technology by major companies will deliver sufficient returns. Still, optimism around the sector lifted chipmakers, with shares of Nvidia and Broadcom posting solid gains. January export earnings dip slightly amid mixed global trends In the bond market, US Treasury yields were largely steady ahead of key economic data later this week, including reports on employment and inflation. The data could shape expectations for future interest-rate moves by the US Federal Reserve. Gold prices rose 2 percent to $5,079.40 per ounce amid continued volatility, while silver posted a sharp jump. Bitcoin hovered just below $71,000 after recent swings. Oil prices were little changed in early Asian trading, and the US dollar edged slightly lower against the Japanese yen, while the euro also weakened modestly against the dollar.

Calling logistics a foundational pillar of modern economies, Syed Ershad Ahmed, President of AmCham Bangladesh, said efficient logistics systems are essential for sustaining supply chains, supporting economic growth, and ensuring the continuity of everyday life. The global logistics landscape is being rapidly reshaped by forces such as AI and automation, decarbonization and fuel transitions, geopolitics, regionalization, and supply chain resilience, and stressed the need to bridge existing knowledge and capacity gaps to better support the country’s growing trade and investment needs, he said. The AmCham President made the remarks at a focus group discussion titled “Framing the Logistics Sector Landscape: Challenges, Opportunities, and the Way Forward,” held at a city hotel on Tuesday. Read More: AmCham honours Khaleda Zia as legacy of an exemplary leader Drawing on over three decades of professional experience, he noted that while Bangladesh’s logistics sector has evolved, it continues to lag behind regional competitors and remains poorly understood domestically. M. Masrur Reaz, Chairman, Policy Exchange Bangladesh, highlighted key challenges and opportunities in Bangladesh’s logistics sector, affirming its critical role in trade competitiveness through cost reduction, faster delivery, and efficiency gains. Referring to the Chattogram port labor strike, he illustrated how logistics disruptions can severely impact the national economy, noting that logistics infrastructure and port capacity expansion will be crucial to supporting the projected GDP of USD 760 billion by 2030, while a 1% reduction in logistics costs could increase exports by around 7%, particularly as Bangladesh approaches LDC graduation.  He also identified major implementation gaps in the National Logistics Policy, including government monopolies in rail and air cargo, weak inter-ministerial coordination, and the absence of central logistics authority. Read More: AmCham dialogue stresses urgent reforms to boost investment competitiveness Seasoned entrepreneur Mahbubul Anam, Managing Director of CF Global, outlined key challenges in air logistics and express courier operations, emphasizing the need for stronger public–private coordination, supportive policy frameworks, stakeholder-informed infrastructure planning, and adequate equipment. He stressed the importance of cost rationalization, capacity expansion, efficient courier services, and robust contingency arrangements to support time-sensitive shipments, particularly as e-commerce-driven demand for express logistics continues to grow. He noted that logistics costs at Dhaka airport are 20–25% higher than those of road transport and underscored that stronger public–private cooperation is essential to address these constraints. Nusrat Nahid Babi, Senior Transport Specialist, South Asia, The World Bank, said that Bangladesh’s logistics reform momentum since 2022 must be reaffirmed by the new government through clear priorities and high-level consensus. She outlined a phased reform agenda structured around five thematic pillars: policy and procedural simplification; multimodal logistics infrastructure and connectivity; skills and institutional capacity development; supply-chain digitalization; and investment in logistics. Other speakers and the overall discussion emphasized the need to move decisively from policy intent to implementation, including ratification of the National Logistics Policy 2025, supported by a clear execution roadmap. Md. Moinul Huq, Citi Country Officer, Bangladesh Citibank, N.A., highlighted the urgent need for customs authorities to operationalise provisions of the Customs Act 2023 by clearly defining electronic document submission and payment modalities. Participants expressed concern about the heavy dependence on RMG exports, slow progress in new infrastructure development, and poor implementation of electronic documentation despite the presence of enabling policies. Read More: AmCham hosts session on Economic and Investment Outlook in Dhaka

US President Donald Trump announced on Monday that he has agreed to a trade deal with Indian Prime Minister Narendra Modi. Under the agreement, the US will reduce tariffs on Indian goods from 25% to 18%. In a post on Truth Social, Trump said India has agreed to eliminate trade barriers entirely and will stop buying Russian oil. The 25% tariff penalty previously imposed over India’s purchase of Russian oil will also be removed. The announcement comes less than a week after India and the European Union finalized a landmark trade agreement following nearly two decades of negotiations. Modi expressed his delight over the deal in a post on X, saying he was pleased that an agreement had been reached. Trump added that the morning phone call with Modi covered both trade and the Russia-Ukraine conflict. He said Modi agreed to increase oil purchases from the US and possibly Venezuela, and at Modi’s request, he immediately consented to the trade deal. This agreement will see India reduce tariffs and non-tariff barriers to zero. Trump threatens 10% tariff on 8 European countries over Greenland stance Trump further stated that Modi committed to purchasing more than $500 billion worth of American goods, including energy, technology, agriculture, and coal products. The trade relationship between the US and India had been strained since August, when the US imposed a 50% tariff on Indian goods, the highest on any Asian country, including a 25% penalty tied to Indian oil imports from Russia. A White House official confirmed that the Russian oil-linked tariffs will be removed and other tariffs reduced to 18% under the new deal. Modi thanked Trump for the announcement, saying the cooperation between the two largest democracies will benefit their people and open up significant opportunities for mutually beneficial trade. Indian exports to the US had fallen sharply after the previous tariffs were applied. The recent India-EU trade deal will also reduce tariffs on a wide range of goods and services and includes a joint security partnership. #With inputs from BBC

Bangladesh's export earnings saw a marginal decline of 0.5 percent in January 2026, totaling US $4.41 billion compared to $4.43 billion during the same month last year. According to the latest data from the Export Promotion Bureau (EPB) released on Monday, the cumulative export earnings for the first seven months (July–January) of the 2025–26 fiscal year fell by 1.93 percent to $28.41 billion. Despite the slight year-on-year dip, January demonstrated a significant recovery in trade momentum. Compared to December 2025, which saw a sharp 14.25 percent decline in earnings, January posted a double-digit month-on-month growth of 11.22 percent. This upward shift suggests a stabilization of the export sector following several months of consistent contraction. Read More: Bangladesh's garment exports to Europe exceed €18 billion, growing over 7.5% The Ready-Made Garments (RMG) sector remains the backbone of the nation's economy, accounting for $22.98 billion of the total July–January earnings. The sector registered a robust 11.77 percent growth over the previous year, reflecting sustained global demand and enhanced competitiveness despite broader economic headwinds. Performance in other major sectors was mixed. Growth Leaders: Leather and leather goods, jute and jute products, home textiles, plastic goods, and light engineering products all registered growth on both a year-on-year and month-on-month basis. Other Sectors: Agro-processed products and frozen fish showed varied trends, struggling to match the steady growth of the apparel sector. Key Export Destinations: he United States maintained its status as the top destination for Bangladeshi products, with exports reaching $ 5.21 billion during the July–January period, marking a 1.64 increase. Read More:  Bangladesh exports rise in Dec on monthly momentum, still down from year earlier United States: Recorded a 3.59 percent year-on-year growth and 2.24 percent month-on-month growth. Europe: Germany and the United Kingdom followed as the second and third largest markets, earning $ 2.85 billion and $ 2.77 billion, respectively. Other Markets: Spain and the Netherlands also recorded positive turnarounds, reaffirming strong trade ties with the European Union. While the overall recovery remains modest due to global trade conditions, the double-digit growth between December and January provides a sense of optimism for exporters. Analysts suggest that if the current momentum in the RMG and leather sectors continues, the fiscal year may conclude with a stronger performance than the initial months indicated.

Gold’s sharp slide—down more than 9 percent in a single session—has rattled global markets and raised a pressing question among investors: will prices sink below the $4,403 mark or stage a recovery? Spot gold fell to around $4,403 an ounce, marking its steepest one-day decline in decades. The selloff came amid broad weakness across commodities, equities and metals, following the nomination of Kevin Warsh as the next chair of the US Federal Reserve. The move sparked a surge in the US dollar and triggered heavy profit-taking after gold’s recent record highs. Gold prices drop by Tk6,590 per bhori in Bangladesh A stronger dollar typically weighs on gold, making the metal more expensive for investors holding other currencies. At the same time, easing geopolitical tensions and tighter trading conditions combined to intensify the downturn. What drove gold’s steep fall? Markets reacted swiftly after US President Donald Trump named Warsh, who is widely seen as hawkish on inflation, to lead the Federal Reserve. Expectations of a tougher stance on interest rates lifted the dollar and dampened demand for non-yielding assets like gold. Spot gold slid more than 9 percent to $4,403.29 per ounce, its sharpest daily fall since 1983. Silver fared even worse, dropping over 13 percent on Monday after plunging 27 percent on Friday. Both metals had hit record highs just days earlier. Selling pressure accelerated after CME Group raised margin requirements for metal futures, increasing trading costs and forcing many investors to pare back leveraged positions. Analysts said the move led to a rapid unwinding of speculative bets built up during the recent rally, reports The Economic Times. Gold and silver were sold alongside equities, pointing to a broader market shift as investors reassessed risk. The dollar’s continued strength after Warsh’s nomination added further pressure on precious metals. Beyond gold: a wider commodities selloff The downturn spread well beyond bullion markets. Oil prices fell nearly 5.5 percent as signs of easing US-Iran tensions reduced supply concerns. Trump said Iran was in talks with Washington, while Tehran signalled it would not conduct live-fire drills in the Strait of Hormuz. Gold sees sharpest one-day fall, down Tk15,746 per bhori Industrial metals also came under heavy pressure. Copper prices slid sharply as demand softened ahead of China’s Lunar New Year holiday, with the most-active contract on the Shanghai Futures Exchange falling 9 percent. Aluminium, nickel and tin also hit limit-down levels. On the London Metal Exchange, copper dropped nearly 5 percent, while aluminium, zinc, lead, nickel and tin posted steep losses, weighed down by high inventories and subdued buying interest. Will gold fall further or rebound? The immediate focus is whether gold will break below the $4,403 level or find support. Analysts say the selloff appears driven more by position unwinding and profit-taking than by a deterioration in fundamentals, suggesting the move could be a correction after an unusually rapid rally. Outlooks remain divided. Some analysts believe gold could regain strength later in the year if economic risks resurface or expectations around US interest rates shift. For now, however, volatility is likely to persist as markets digest signals on US monetary policy and global growth. What should investors watch? Market watchers advise caution in the near term. Movements in the US dollar and signals from the Federal Reserve will be key drivers for gold prices. While some see the recent fall as a healthy correction, others warn that price swings could remain sharp. 7.8 million ounces of new gold resources discovered in Saudi Arabia Long-term investors may prefer to wait for clearer signs of stability before increasing exposure, while short-term traders are urged to limit leverage amid higher margins and heightened volatility. Diversification, analysts say, remains crucial as markets navigate an uncertain phase.  

A day after hitting a record high, the prices of gold in Bangladesh fell sharply on Friday, with the Bangladesh Jewellers Association (BAJUS) cutting the rate by Tk 14,638 per bhori. In a notification, BAJUS said it has fixed the price of 22-carat gold at Tk 271,363 per bhori (11.664 grams), effective immediately. The jewellers’ body explained that the latest reduction comes following a fall in the price of pure gold (tejabi sona) in the local market. According to the revised rates, the price of 21-carat gold has been set at Tk 258,999 per bhori, 18-carat gold at Tk 222,024 per bhori, while the price of traditional gold stands at Tk 182,833 per bhori. Gold price skyrockets to Tk262,440 per bhori overnight in Bangladesh  In addition to the selling price, buyers will have to pay a mandatory 5 percent VAT set by the government and a minimum 6 percent making charge fixed by BAJUS. However, the making charge may vary depending on the design and quality of jewellery. On January 29, BAJUS had raised the price of gold by Tk 16,213 per bhori, setting the rate at Tk 286,000 — the highest ever in the country’s gold market. So far in 2026, gold prices have been adjusted 17 times, with increases on 13 occasions and decreases on four. Alongside gold, BAJUS has also reduced silver prices. The price of 22-carat silver has been cut by Tk 816 to Tk 7,757 per bhori, marking the first reduction after four consecutive hikes. Under the new rates, 21-carat silver will sell at Tk 7,407 per bhori, 18-carat at Tk 6,357 per bhori, while traditional silver has been fixed at Tk 4,782 per bhori. Gold hits record high in Bangladesh as prices jump Tk 7,348 per bhori Meanwhile, gold prices have also shown a downward trend in the global market.  In the spot market, gold was trading at around USD 5,600 per ounce on Thursday, which fell to about USD 5,100 on Friday — a decline of more than 4 percent within a day.

US tech giant Amazon has confirmed it will lay off about 16,000 employees, hours after an internal email detailing the cuts was mistakenly sent to staff. The email, seen by the BBC, was circulated late Tuesday and referred to job losses affecting employees in the United States, Canada and Costa Rica as part of efforts to streamline operations and strengthen the company. The message was quickly withdrawn, suggesting it had been shared accidentally. Amazon formally announced the job reductions early Wednesday, saying the move is aimed at cutting bureaucracy and improving efficiency. Beth Galetti, Amazon’s senior vice president of people experience and technology, said the company was not planning frequent, large-scale layoffs, referring to the 14,000 corporate job cuts announced in October. She noted that while many teams completed restructuring last year, others finalized their changes only recently. Amazon employs about 1.5 million people worldwide, including roughly 350,000 in corporate roles. The company has not specified which divisions or countries will be most affected by the latest layoffs, reports BBC. The accidental email, reportedly linked to an internal project codenamed “Project Dawn,” outlined Amazon’s ongoing effort to reduce management layers, increase accountability and move faster to meet customer needs. It acknowledged the difficulty of the decisions while positioning the changes as necessary for future growth. Current and former employees said the layoffs had been anticipated for weeks, with expectations that total job cuts could reach around 30,000 through multiple rounds extending into the coming months. Affected workers were encouraged to apply for other openings within Amazon, though opportunities were limited, while severance packages were offered based on tenure. Since founder Jeff Bezos stepped down as chief executive four years ago, his successor Andy Jassy has overseen several rounds of cost-cutting and introduced a stricter workplace culture, including a mandatory five-day office workweek. Amazon has also intensified efforts to curb expenses across its operations. Earlier this week, the company announced plans to shut its remaining Amazon Fresh and Amazon Go grocery stores while expanding its Whole Foods Market business.

President Donald Trump said Saturday that he would charge a 10% import tax starting in February on goods from eight European nations because of their opposition to American control of Greenland, setting up a potentially dangerous test of U.S. partnerships in Europe. Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland would face the tariff, Trump said in a social media post while at his golf club in West Palm Beach, Florida. The rate would climb to 25% on June 1 if no deal was in place for “the Complete and Total purchase of Greenland” by the United States, he said. The Republican president appeared to indicate that he was using the tariffs as leverage to force talks with Denmark and other European countries over the status of Greenland, a semiautonomous territory of NATO ally Denmark that he regards as critical to U.S. national security. “The United States of America is immediately open to negotiation with Denmark and/or any of these Countries that have put so much at risk, despite all that we have done for them,” Trump said on Truth Social. The tariff threat could mark a problematic rupture between Trump and America's longtime NATO partners, further straining an alliance that dates to 1949 and provides a collective degree of security to Europe and North America. Trump has repeatedly tried to use trade penalties to bend allies and rivals alike to his will, generating investment commitments from some nations and pushback from others, notably China. Trump is scheduled to travel on Tuesday to the World Economic Forum in Davos, Switzerland, where he likely will run into the European leaders he just threatened with tariffs that would start in little more than two weeks. French President Emmanuel Macron pushed back against Trump in a social media post that seemed to equate the threat to Russian leader Vladimir Putin's war in Ukraine. “No intimidation or threats will influence us, whether in Ukraine, Greenland or anywhere else in the world when we are faced with such situations,” Macron said in a translated post on X. “Tariff threats are unacceptable and have no place in this context. Europeans will respond in a united and coordinated manner.” There are immediate questions about how the White House could try to implement the tariffs because the EU is a single economic zone in terms of trading, according to a European diplomat who was not authorized to comment publicly and spoke on the condition of anonymity. It was unclear, too, how Trump could act under U.S. law, though he could cite emergency economic powers that are currently subject to a U.S. Supreme Court challenge. Trump has long said he thinks the U.S. should own the strategically located and mineral-rich island, which has a population of about 57,000 and whose defense is provided by Denmark. He intensified his calls a day after the military operation to oust Venezuela’s Nicolás Maduro earlier this month. The president indicated the tariffs were retaliation for what appeared to be the deployment of s ymbolic levels of troops from the European countries to Greenland, which he has said was essential for the “Golden Dome” missile defense system for the U.S., He also has argued that Russia and China might try to take over the island. The U.S. already has access to Greenland under a 1951 defense agreement. Since 1945, the American military presence in Greenland has decreased from thousands of soldiers over 17 bases and installations to 200 at the remote Pituffik Space Base in the northwest of the island, the Danish foreign minister has said. That base supports missile warning, missile defense and space surveillance operations for the U.S. and NATO. Resistance has steadily built in Europe to Trump's ambitions even as several countries on the continent agreed to his 15% tariffs last year in order to preserve an economic and security relationship with Washington. ‘Important for the whole world’ Earlier Saturday, hundreds of people in Greenland's capital, Nuuk, braved near-freezing temperatures, rain and icy streets to march in a rally in support of their own self-governance. Thousands of people also marched through Copenhagen, many of them carrying Greenland’s flag. Some held signs with slogans such as “Make America Smart Again” and “Hands Off.” “This is important for the whole world,” Danish protester Elise Riechie told The Associated Press as she held Danish and Greenlandic flags. “There are many small countries. None of them are for sale.” The rallies occurred hours after a bipartisan delegation of U.S. lawmakers, while visiting Copenhagen, sought to reassure Denmark and Greenland of their support. NATO training exercises Danish Maj. Gen. Søren Andersen, leader of the Joint Arctic Command, told the AP that Denmark does not expect the U.S. military to attack Greenland, or any other NATO ally, and that European troops were recently deployed to Nuuk for Arctic defense training. He said the goal is not to send a message to the Trump administration, even though the White House has not ruled out taking the territory by force. “I will not go into the political part, but I will say that I would never expect a NATO country to attack another NATO country,” he said from aboard a Danish military vessel docked in Nuuk. “For us, for me, it’s not about signaling. It is actually about training military units, working together with allies.” The Danish military organized a planning meeting Friday in Greenland with NATO allies, including the U.S., to discuss Arctic security on the alliance’s northern flank in the face of a potential Russian threat. The Americans were also invited to participate in Operation Arctic Endurance in Greenland in the coming days, Andersen said. In his 2½ years as a commander in Greenland, Andersen said that he hasn't seen any Chinese or Russian combat vessels or warships, despite Trump saying that they were off the island's coast. But in the unlikely event of American troops using force on Danish soil, Andersen confirmed that Danish soldiers have an obligation to fight back. ‘Almost no better' ally to US than Denmark Trump has contended that China and Russia have their own designs on Greenland and its vast untapped reserves of critical minerals. He said recently that anything less than the Arctic island being in U.S. hands would be “unacceptable.” The president has seen tariffs as a tool to get what he wants without having to resort to military actions. At the White House on Friday, he recounted how he had threatened European allies with tariffs on pharmaceuticals and he teased the possibility of doing so again. “I may do that for Greenland, too,” Trump said. After Trump followed through, Rep. Don Bacon, R-Neb., said "Congress must reclaim tariff authorities” so that they are not used solely at a president's discretion. European leaders have said it is only for Denmark and Greenland to decide on matters concerning the territory, and Denmark said this week that it was increasing its military presence in Greenland in cooperation with allies. “There is almost no better ally to the United States than Denmark,” said Sen. Chris Coons, D-Del., while visiting Copenhagen with other members of Congress. “If we do things that cause Danes to question whether we can be counted on as a NATO ally, why would any other country seek to be our ally or believe in our representations?”

Canada has agreed to reduce its 100% tariff on Chinese electric vehicles in return for sharp cuts to Chinese duties on key Canadian farm products, Prime Minister Mark Carney said Friday. Speaking after two days of talks with Chinese leaders, Carney said the deal will initially allow up to 49,000 Chinese-made EVs to enter the Canadian market. In exchange, China will lower its tariff on Canadian canola seeds from about 84 percent to around 15 percent. The announcement came as Canada and China signaled a broader effort to reset relations after years of tension. Carney said his visit, the first by a Canadian prime minister in eight years, marked “a historic and productive” step toward rebuilding ties and adapting cooperation to new global realities. He called for closer collaboration in agriculture, energy and finance. Chinese President Xi Jinping said talks since an initial meeting last October had helped open a new chapter in bilateral relations and that Beijing was willing to continue working to improve ties. Venezuela’s new leader signals oil sector reforms and warmer US ties Relations between the two countries deteriorated in recent years after Canada followed the United States in imposing steep tariffs on Chinese electric vehicles, steel and aluminum under former prime minister Justin Trudeau. China retaliated with heavy duties on Canadian canola oil, meal and seeds, as well as pork and seafood, effectively shutting Canadian canola out of the Chinese market. The renewed engagement comes as both countries face economic pressure from US President Donald Trump’s America-first trade policies, which have disrupted global commerce and hit both the Canadian and Chinese economies. Carney said his government is seeking to build an economy less dependent on the United States and to diversify trade partnerships during a period of global trade disruption. After leaving China on Saturday, Carney will visit Qatar before heading to Switzerland for the World Economic Forum, where he is expected to meet business leaders and investors to promote trade and investment.