United News of Bangladesh

Coca-Cola announced Wednesday that its chief operating officer, Henrique Braun, will take over as CEO in the first quarter of 2026. The Atlanta-based beverage company said its board elected Braun, 57, to the role effective March 31. Current CEO and chairman James Quincey will transition to executive chairman. Braun, a 30-year Coca-Cola veteran, became COO earlier this year after leading operations in Brazil, Latin America, Greater China and South Korea. He has also overseen supply chain, marketing, innovation, bottling operations, general management, and new business development. Born in California and raised in Brazil, Braun holds a bachelor’s in agricultural engineering from the University Federal of Rio de Janeiro, a master’s from Michigan State University, and an MBA from Georgia State University. Trump says Coca-Cola to use cane sugar in US David Weinberg, Coca-Cola’s lead independent director, called Quincey, 60, a “transformative leader” who will remain active in the business. During his nine-year tenure as CEO, Quincey expanded Coke’s portfolio with more than 10 billion-dollar brands, including BodyArmor and Fairlife, and entered the alcoholic beverage market with Topo Chico Hard Seltzer. In 2020, he led a major restructuring that halved Coke’s brands and cut thousands of jobs to focus on faster-growing products like Simply and Minute Maid juices. As Quincey steps down, Coca-Cola faces challenges including slow demand in the U.S. and Europe and heightened consumer scrutiny of ingredients. This summer, following a suggestion from former President Donald Trump, the company announced it would release a cane sugar version of its classic Cola. Weinberg expressed confidence that Braun would build on the company’s strengths and pursue global growth opportunities. Coca-Cola shares were flat in after-hours trading. Source: AP 

Bangladesh Bank has finalized a draft special scheme to refund Tk2.0 lakh initially, then Tk 1.0 lakh in each three months to the depositors of merged five troubled Shariah Bank. This initial amount will be paid out from the ‘Deposit Insurance Fund’. Following this, depositors whose balances exceed Tk2.0 lakh will be allowed to withdraw a maximum of Tk 1.0 lakh every three months for up to two years, said an official to UNB on Wednesday. The authorities closed the merger process and said that the scheme was finalized at a crucial meeting chaired by Governor Dr. Ahsan H. Mansur at Bangladesh Bank on Tuesday.  The meeting included Mohammad Ayub Mia, Chairman of the newly formed 'Sammilito Islami Bank PLC,' four Deputy Governors, the Administrators of the five troubled banks, and relevant departmental officials. The complexities have arisen in returning the funds because the new bank (Sammilito Islami Bank PLC) has not yet developed its database or appointed a Managing Director, creating a legal hurdle.  Despite this, the Governor has issued a directive to begin the process of refunding the money within December 2025. Central Bank officials have discouraged customers from withdrawing money unnecessarily. They emphasized that since the new bank is fundamentally sound, withdrawing funds is not mandatory.  The primary goal of this scheme is to restore confidence among depositors and gradually bring stability back to the banking sector. The central bank outlined the specific withdrawal limits under the scheme. To avail themselves of the scheme’s benefits, customers must meet certain conditions. Such as the account must be valid and opened against a National ID Card, a customer with multiple accounts in a single bank will only receive the benefit against ‘one account’, a customer holding separate accounts in all five merged banks will be eligible for a separate payment against each account and depositors with outstanding loans cannot receive the payment until the loan is reconciled. The five banks being merged are Exim Bank, Social Islami Bank, First Security Islami Bank, Global Islami Bank, and Union Bank. They all fell into deep crises due to massive loan fraud and irregularities by the S. Alam Group, that exercised its influence with the Awami League government to illegally control four of them, and the Nassa Group of Nazrul Islam Majumdar, who controlled the other. The authorized capital for Sammilito Islami Bank PLC has been set at Tk 40,000 crore, with a paid-up capital of Tk 35,000 crore ( Tk20,000 crore from the government and Tk15,000 crore from depositors' shares). Bangladesh Bank data shows the five banks hold deposits of approximately Tk1.42 lakh crore from 75 lakh depositors, against loans totaling Tk 1.93 lakh crore, a large portion of which is now treated as non-performing. The new bank has already taken office space in the Senakalyan Bhaban in Motijheel. Measures, including a 20 percent cut in employee salaries and allowances and merging multiple branches in the same area, have been taken to reduce operational costs.

Bangladesh Bank now allows capital machinery import in foreign credit without permission from the Bangladesh Investment Development Authority (BIDA). Companies can now directly import necessary machinery and equipment using foreign loans with a minimum three-year term, without needing prior approval from the BIDA. The Foreign Exchange Policy Department of Bangladesh Bank issued the directive on Wednesday (December 10). Industry stakeholders believe this new initiative will significantly ease the import process for the industrial sector. The directive states that this industry-friendly measure was introduced as part of implementing the decision of BIDA’s foreign debt committee. Previously, the long-term credit facility was primarily available only for the import of new machinery. The new regulation expands the scope: Various capital goods, including ships, equipment, and machinery, can now be imported on three-year installment credit. The foreign loan can be secured from either the foreign supplier or a foreign bank. Entrepreneurs praised the decision, noting that it will reduce import complexities and help in the rapid procurement of essential capital goods, which is crucial for increasing production and industrial expansion. BKMEA President Mohammad Hatem said that the new rule will accelerate the industrial and manufacturing sectors, while also encouraging long-term planning and new investments.

The strong upward trend in remittance continues as Bangladesh received more than US$1.16 billion in the first nine days of December, according to the latest data from Bangladesh Bank. The amount marks a 22.6 percent rise from the same period last year when expatriates sent around $945 million. Officials attribute the growth to incentives for sending money through formal channels, stronger encouragement for using the banking system, and the active role of authorised exchange houses. Between July 1 and December 9, total receipts reached $14.2 billion, up by $2.12 billion from $12.08 billion in the corresponding period of FY 2024-25. This reflects a year-on-year growth rate of 16.5 percent.

Speakers at a discussion urged the interim government to strengthen its energy governance and accelerate exploration and infrastructure upgrades to prevent a deepening energy crisis. Speakers said this at a discussion titled ‘Powering Bangladesh Toward Energy Security’ organised by the American Chamber of Commerce in Bangladesh (AmCham) in the capital on Tuesday. The event was supported by Chevron Bangladesh, an industry leader whose 30-year partnership has significantly contributed to Bangladesh’s economic growth and community development, investing approximately USD 4.2 billion as the country’s largest gas producer, supplying nearly 60% of domestic demand, said a press release. Syed Ershad Ahmed, President of AmCham Bangladesh, underscored that energy security is currently critically important for Bangladesh. He also highlighted that the country’s energy sector faces persistent fuel shortages, outdated transmission systems, declining gas reserves, and overreliance on imported fuels, which undermine reliability and industrial growth. Strengthening regulatory governance, accelerating exploration, upgrading infrastructure, expanding renewables, and enabling clearer investment pathways are essential to building a resilient, secure, and future-ready energy ecosystem. Syed Ershad Ahmed, said that the country’s energy sector faces persistent fuel shortages, outdated transmission systems, declining gas reserves, and overreliance on imported fuels, which undermine reliability and industrial growth. Strengthening regulatory governance, accelerating exploration, upgrading infrastructure, expanding renewables, and enabling clearer investment pathways are essential to building a resilient, secure, and future-ready energy ecosystem. AmCham dialogue stresses urgent reforms to boost investment competitiveness Paul Frost, Commercial Counselor, U.S. Embassy, Dhaka, moderated the session, reflecting the continued commitment to strengthening U.S.–Bangladesh trade and investment cooperation. The event was also attended by Mr. Eric M. Walker, Vice President of AmCham and President, Chevron Bangladesh; Prof. M. Tamim, distinguished petroleum and mineral resources engineering scholar and Vice Chancellor of IUB; Mr. Muhammad Imrul Kabir, Director, Corporate Affairs, Chevron Bangladesh, AmCham members from the power and energy sector; and senior leadership from leading companies in the industry.    

The country’s capital market saw mixed movements on Wednesday as the Dhaka Stock Exchange (DSE) ended lower while the Chittagong Stock Exchange (CSE) posted gains. At DSE, the benchmark DSEX fell 21 points, while the Shariah-based DS30 and selected blue-chip index DS30 declined by 7 and 8 points respectively. Most companies saw their share prices drop, with 227 companies posting losses, 114 recording gains, and 53 remaining unchanged. In the block market, shares worth Tk 51 crore of 42 companies changed hands, with Paramount Textile PLC leading at Tk 20 crore. The market turnover rose to Tk 533 crore from Tk 458 crore in the previous session. Trust Islami Life Insurance Limited topped the gainers list with nearly 10% increase, while Familitex (BD) Limited was the biggest loser with more than 8% decline. Meanwhile, CSE's index CASPI rose 53 points, supported by price increases in the majority of listed companies. Out of the total, 84 companies saw their share prices rise, 68 fell and 26 remained unchanged. The total turnover stood at Tk 9 crore, down from Tk 15 crore the previous day. Bangas Limited led the gainers with a 10% rise, and Eastern Insurance Company Limited was the top loser, losing over 8%.

Canada’s top diplomat in Washington, Kirsten Hillman, announced Tuesday that she will step down next year, just as Canada and the United States prepare to reassess their free trade agreement. In a letter, Hillman said the timing is appropriate for appointing a successor who will manage negotiations on the United States-Mexico-Canada Agreement, which is scheduled for review in 2026. Prime Minister Mark Carney praised Hillman for laying the groundwork for Canada ahead of the upcoming assessment, noting she is one of the country’s longest-serving envoys to the U.S. Hillman, appointed in 2017 by then-Prime Minister Justin Trudeau, was also the first woman to hold the post. She played a key role in negotiating trade terms during former U.S. President Donald Trump’s first term and worked with U.S. and Chinese authorities to secure the release of two Canadians imprisoned in China. Hillman and Canada-U.S. trade minister Dominic LeBlanc have been leading discussions with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer. China’s exports rise 5.9% in November despite U.S. shipments falling sharply U.S. Ambassador to Canada Pete Hoekstra praised Hillman on social media, calling her a respected figure in bilateral relations and wishing her well in her next chapter. Trade tensions flared in October when Trump halted negotiations after Ontario aired an anti-tariff ad in the U.S., angering the president. This followed earlier friction over Trump’s suggestion that Canada should join the U.S. as its 51st state. Asked this week about resuming talks, Trump replied, “we’ll see.” Canada remains one of the world’s most trade-reliant nations, with over 75% of its exports headed to the United States under the USMCA, which is due for review. Carney has set a goal to double Canada’s non-U.S. trade within 10 years. Canada supplies about 60% of U.S. crude oil imports and 85% of its electricity imports. It is also America’s largest foreign source of steel, aluminum and uranium, and holds 34 critical minerals vital to U.S. national security. Source: AP 

China’s Premier Li Qiang on Tuesday warned that rising global tariffs have dealt a “severe blow” to the world economy, even as the country’s trade surplus surpassed $1 trillion. Speaking at a forum in Beijing with top officials from the International Monetary Fund, World Bank, and World Trade Organization, Li highlighted the negative impact of restrictive trade measures since early 2025. “The damaging effects of tariffs, which harm both others and oneself, have become increasingly apparent,” he said, without naming the U.S. specifically, while emphasizing growing calls to uphold free trade. Warner Bros fight heats up with $108 billion hostile bid from Paramount U.S. tariffs have contributed to a 29% drop in Chinese exports to the United States in November, marking the eighth consecutive month of decline. However, China’s overall exports rose 5.9% from a year earlier, keeping the trade surplus above $1 trillion. Li also urged “collaborative innovation” amid rising technology investments and stressed the importance of openness and cooperation. The remarks come during China’s Central Economic Work Conference, which sets the country’s economic plans and strategies for 2026–2030. China’s economy grew 4.8% in the last quarter, and economists expect it to reach the official 5% growth target for 2025, supported by strong exports. Source: AP 

Paramount has launched a hostile $108.4 billion bid for Warner Bros Discovery, escalating its battle with Netflix and attempting a final push to secure the media company. Netflix had appeared to win the months-long competition on Friday with a $72 billion equity deal for Warner Bros’ TV, film and streaming units, but Paramount’s surprise bid has kept the contest alive, reports Reuters. The Warner Bros Discovery board said Monday it will review Paramount’s proposal but is not altering its current recommendation in favor of Netflix, advising shareholders to hold off on any action regarding the new offer. Paramount’s $30-per-share all-cash proposal includes financial backing from Jared Kushner’s investment firm Affinity Partners, several Middle Eastern sovereign wealth funds, and the Ellison family. Larry Ellison, father of Paramount CEO David Ellison and a close ally of the White House, reportedly phoned President Trump after the Netflix deal was announced, warning it could hurt industry competition. Paramount argues its bid is superior, offering $18 billion more in cash than Netflix and fewer regulatory hurdles. The company says a merger would strengthen Hollywood, theaters, and consumers through increased competition. However, the deal would also create one of the largest media conglomerates ever, raising antitrust concerns that echo lawmakers’ warnings about excessive consolidation. Netflix co-CEO Ted Sarandos said he expected the hostile bid and remained confident in closing their agreement, while criticizing Paramount’s promised “synergies” as likely job cuts—something Netflix says it aims to avoid. If Warner Bros accepts Paramount’s bid, it must pay Netflix a $2.8 billion breakup fee, while Netflix would owe $5.8 billion if the deal collapses. Both bidders face political scrutiny. Senator Elizabeth Warren called the Paramount offer a “five-alarm antitrust fire,” pointing to its ties to Trump associates. Shares of Paramount and Warner Bros rose on the news, while Netflix stock declined. Analysts say the acquisition fight is far from over as Paramount continues pressing shareholders and regulators to block Netflix’s path.

President Donald Trump on Sunday warned that Netflix’s proposed $72 billion acquisition of Warner Bros. Discovery “could be a problem” because of the combined company’s market share. Speaking to reporters at the Kennedy Center Honors, Trump said he would be involved in the federal review of the deal, which would bring together two of the world’s largest streaming platforms and combine Warner’s television and film assets, including DC Studios, with Netflix’s extensive library and production capabilities. “Netflix is a great company. They’ve done a phenomenal job. Ted is a fantastic man,” Trump said, referring to Netflix CEO Ted Sarandos, whom he met in the Oval Office last week before the deal’s announcement on Dec. 5. “I have a lot of respect for him but it’s a lot of market share, so we’ll have to see what happens.” Asked whether Netflix should be allowed to acquire the Hollywood studio behind “Harry Potter” and HBO Max, Trump replied, “Well that's the question. They have a very big market share and when they have Warner Bros., that share goes up a lot, so I don’t know. I'll be involved in that decision, too.” Trump emphasized that Sarandos made no promises regarding regulatory approval but praised his track record in the entertainment industry. “There’s no question about it. It could be a problem,” he added. If approved, the merger is expected to significantly reshape the global entertainment and streaming landscape.