The move was launched under Section 301 of the Trade Act of 1974, and it comes months after the Trump administration tapped similar authorities to investigate dozens of trading partners over issues like forced labor and industrial overcapacity. A federal register notice released by the USTR charged that "evidence indicates that Germany implements unfair pricing policies and practices with regard to innovative pharmaceutical products."

It added that reduced revenue associated with these practices also appeared to contribute to reduced investment for research and development, among other issues. "As a result, the United States pays a disproportionate share of global R&D costs for innovative pharmaceuticals," the notice said. The probe will look into the means that Germany uses to implement its pricing policies and practices.

"President (Donald) Trump has made clear that American patients should not be shouldering a disproportionate share of global pharmaceutical research and development," said USTR Jamieson Greer in a statement. He expressed concern over Germany's plans to fast-track legislation "that would further reduce its spending on innovative pharmaceuticals."

The trade envoy's office will next receive comments and hold a hearing in September as part of the investigation. Earlier this month, the USTR's office proposed new tariffs of up to 12.5 percent on dozens of economies under its investigation into forced labor concerns. Trump has rolled out sweeping tariffs since returning to the White House last year, although the Supreme Court struck down many of them in February. His administration has since turned to trade probes as officials look to reimpose more lasting duties.

Excluding also energy, the reading was 1.8 percent, down from 1.9 percent and in line with market forecasts. Unadjusted, inflation inched up to 1.5 percent from 1.4, also meeting forecasts. The Bank of Japan (BoJ) raised its benchmark rate on Tuesday by 25 basis points to 1.0 percent, the highest level since 1995 and marking the first increase since December. The United States and Iran have agreed a peace deal to end their three-month conflict and reopen the Strait of Hormuz, a vital waterway for oil and gas.

But the full resumption of traffic through the strait back to pre-conflict levels is expected to take considerable time. The European Central Bank hiked rates last week after the war pushed up prices for oil and other goods worldwide. The US Federal Reserve on Wednesday held rates steady. But with US inflation at a three-year high, expectations are growing that its policy rate will rise later this year, despite pressure from President Donald Trump to cut.

Australia's central bank, which has raised borrowing costs three times this year, also held rates steady this week as did the Bank of England. Indonesia has hiked rates three times in four weeks. Before the conflict began on February 28, Japan relied on the Middle East for around 90 percent of its crude supplies. Government subsidies has helped to keep core inflation under the BoJ's target of two percent.

But the BoJ warned on Tuesday that there was a risk that inflation could accelerate past its objective as firms pass higher prices for raw materials onto consumers. Marcel Thieliant at Capital Economics said that "there are no clear signs yet that higher energy costs are lifting prices of other goods and services". "However, that is only a matter of time," he said in a note, forecasting inflation excluding fresh food and energy to rise to around 3.5 percent in the first half of next year. The yen has also come under major pressure in recent weeks, caused by the rise in oil prices and the gap between US and Japanese interest rates, pushing up resource-poor Japan's already colossal import bill.

Takaichi's government spent around 11.7 trillion yen ($72 billion) last month propping up the currency, which has been languishing at around 160 yen against the dollar.

The 27-nation bloc's trade deficit in goods hit around 360 billion euros ($413 billion) last year, meaning Chinese exports sharply exceeded the EU's. During a two-hour summit dinner in Brussels, leaders chewed over how the EU could address the imbalance, and whether the bloc needed to boost its arsenal.

After talks ended early on Friday, an EU official said the leaders tasked the commission with continuing to engage "in a constructive dialogue with our main economic partners" but did not directly say China. They also asked the executive "to develop and eventually complement the toolbox in the area of trade defence" and to make sure the EU has "all the instruments it needs to defend its interests and derisk", the official said.

While EU capitals agree on a common diagnosis, the positions differ on the cure and several leaders on Thursday had called for dialogue as a priority. Spanish Prime Minister Pedro Sanchez struck a more conciliatory tone than his counterparts before the dinner. "We need friends, we need balanced relationships, we need to be pragmatic, and we need to build bridges both with major economies and potential allies, such as China," Sanchez told reporters.

One way to beef up the EU's arsenal could be creating a new tool to impose sector-specific tariffs such as chemicals or green tech -- taking a page out of President Donald Trump's playbook. French President Emmanuel Macron last month called for a "European equivalent of Section 301" -- the trade tool Trump has employed to set sweeping tariffs -- arguing Europe's "sovereignty is at stake". Germany has until now adopted a cautious posture because its economy is more exposed to potential retaliation, while Spain has sought to avoid tensions as it chases Chinese investment.

But Berlin appeared to be coming around to France's way of thinking. A German official said Berlin was "open" to new tools if they are necessary so long as they were "not targeted at specific recipients". German Chancellor Friedrich Merz, however, would not be drawn on China by reporters in Brussels. Irish Prime Minister Micheal Martin said before the dinner he wanted to see "the shape and nature of any mechanisms" introduced but warned Europe had to make sure it understood the consequences.

The EU official did not comment on what any new tools would look like. Concern about Chinese dominance is not limited to the EU. Fears are rising in the West over Beijing's control in the market for rare earth minerals used in everyday electronic appliances, and China was on the agenda of G7 talks in France this week. Brussels often evokes the need for fair competition, pointing to the unfair advantage Chinese companies have because of massive state subsidies.

Between 2005 and 2024, Chinese firms received around three to eight times more government support than firms in the Organisation for Economic Co-operation and Development, according to the OECD, which called it "a conservative estimate". Even as its resolve appears to be hardening, the EU has shown no appetite to trigger a broader trade war with China. Fears over Chinese retaliation are not unfounded. After the EU hit Chinese electric cars with higher tariffs in 2024, China imposed anti-dumping duties on European cognac.

And Beijing has vowed to hit back if the EU pushes through rules that would exclude certain products manufactured outside the bloc from public contracts. Sefcovic has invited Chinese Commerce Minister Wang Wentao to Brussels later this month as the bloc still hopes it can prevent escalation through dialogue with China -- but an EU official would not confirm the visit.

The market opened on a firm note and maintained upward momentum throughout the session, driven by sustained buying pressure in large-cap stocks, which played a key role in lifting overall indices. Market participants said the recovery was mainly led by focused accumulation in quality equities, as investors positioned themselves in perceived undervalued stocks following recent market adjustments.

Improved macro sentiment and easing geopolitical concerns also contributed to strengthening risk appetite in equities. Despite the index gain, market turnover slightly declined by 1.2 percent to Taka 12.0 billion from Taka 12.1 billion in the previous session, indicating cautious but selective participation in the market. Sector-wise turnover remained concentrated in key areas, with Pharma (14.3%) leading, followed by Textile (12.7%) and Engineering (11.1%), reflecting continued investor preference for large, liquid, and fundamentally strong sectors.

On the price front, sector performance was mixed. Mutual Funds (4.3%), Cement (2.5%), and Telecom (1.6%) recorded the highest gains, while Miscellaneous (-2.6%), Services (-2.1%), and Ceramic (-1.0%) faced notable corrections, indicating ongoing sector rotation. Market breadth remained slightly negative, with 171 issues advancing, 181 declining, and 44 remaining unchanged out of 396 traded securities, suggesting that the recovery was driven by selective stock performance rather than a broad-based rally.

Meanwhile, the port city bourse also closed higher. The Chittagong Stock Exchange (CSE) indices-CSCX and CASPI-rose by 74.4 points and 116.6 points respectively, mirroring the positive trend in Dhaka.

On June 17, 2026, expatriates sent US $88 million through official banking channels, reflecting the continued contribution of overseas workers to the country's foreign exchange reserves. During the first 17 days of June, remittance inflow totalled US $1816 million.

The adviser made the remarks while addressing a budget discussion as the chief guest at the CIRDAP Auditorium in the capital. The discussion was organized by Research and Policy Integration for Development (RAPID). Titumir said the government has adopted a new development model centred on investment, production, employment generation and enhanced domestic resource mobilization without increasing tax rates.

"We have moved towards a new model - from investment to production, from production to employment, and from employment to increased domestic resource mobilization without raising tax rates. This marks a significant departure from previous approaches," he said. He noted that the government is promoting production-oriented industrialization to help the country cope with emerging global uncertainties and economic challenges.

Referring to recent global disruptions, including the COVID-19 pandemic and geopolitical tensions in the Middle East, he said Bangladesh is pursuing country-specific strategies to strengthen economic resilience and reduce vulnerability to supply chain disruptions. "Our people have placed their trust in us, and every strategy we adopt is designed in line with the country's realities and requirements," he added.

Highlighting the government's energy sector reforms, the adviser said the reform agenda is based on five key priorities. The first priority, he said, is ensuring a livable planet for future generations by gradually shifting from fossil fuels to renewable and nuclear energy sources. Secondly, he noted, the government aims to make energy affordable and keep it within the purchasing capacity of consumers.

He said several initiatives are underway in this regard and their outcomes will become visible in the coming years. Titumir also said that the government has found that gas exploration and extraction activities were neglected in the past and is now working to accelerate exploration and production both onshore and offshore. He also stressed the importance of developing domestic capacity in renewable energy production, particularly solar power, and said the current budget includes a range of measures to support that transition.

The adviser expressed optimism that these initiatives would strengthen the country's productive capacity, create employment opportunities and contribute to sustainable economic growth.

IBFB president said this at a press conference titled “Proposed Budget 2026-27: Expectations and Outcomes,” at Jatiya Press Clubtoday, said a press release. Lutfunnisa Saudia Khan noted that if effectively implemented, these measures could help attract both domestic and foreign investment, generate new employment opportunities, and accelerate overall economic growth. 

However, she also underscored the need to address key challenges, including ambitious revenue targets, inflationary pressures, weaknesses in the banking sector, and limitations in implementation capacity. IBFB also reiterated its long-standing recommendations including full digitalization of tax administration, structural reform of the National Board of Revenue (NBR), improvement of the ease of doing business, expansion of SME financing, attraction of foreign investment, development of the capital market, and ensuring policy continuity.

Former IBFB President Humayun Rashid, Life Member and former Chairman of NBR Dr. Muhammad Abdul Mazid, IBFB Director M.S. Siddiqui, and Vice President Engr. Utpal Kumar Das were present.  Responding to a journalist’s query, Dr. Abdul Mazid stressed that policy continuity and predictability are essential for maintaining an investment-friendly environment and ensuring long-term economic stability. IBFB observed that with effective implementation, strengthened governance, and necessary reforms, the FY 2026-27 Budget could play a significant role in reinforcing the foundation for sustainable economic growth, increased investment, and development in Bangladesh.

Under the new directive, Authorized Dealers (ADs) in foreign exchange are now permitted to process remittances for ship lease rentals on a ‘mutatis mutandis' basis, applying existing aviation-sector rules with necessary adjustments for maritime operations. The policy aligns with Paragraph 53 of FE Circular No. 37 (dated September 30, 2025), which earlier allowed airlines to remit lease payments up to “guaranteed hours” specified in contracts. 

The central bank said the same framework will now be adapted for shipping companies to reduce administrative complexities and support fleet expansion. To qualify for outward remittances, shipping companies incorporated in Bangladesh must meet strict regulatory requirements, including securing all necessary government approvals for vessel operations, maintaining regular submission of financial returns to Bangladesh Bank, and complying with rules on repatriation of surplus earnings under Paragraph 08 of FE Circular No. 08 (dated May 07, 2026) and subsequent updates.

Bangladesh Bank has directed all Authorized Dealers to inform their clients about the updated provisions promptly.  It also clarified that all other existing provisions of the 2025 aviation-related circular will remain unchanged and must be strictly followed by financial institutions.

The notification said that as per the previous decision of the Ministry of Power, Energy and Mineral Resources and the decision of the 1414th General Board Meeting of BPDB, an amount equivalent to 400 units of electricity bill is being paid as electricity allowance to officers and employees. But recently, Bangladesh Energy Regulatory Commission (BERC) has re-determined the retail price of electricity, so the amount of allowance has been increased in line with the current cost of using 400 units of residential electricity, it said.

The notification, however, said as per latest decision, the BPDB will pay Tk 3,584, per month for a residential connection of one phase with 2 kilowatt load. However, a condition was imposed in order to receive the aforesaid benefit. As per the condition, officers and employees under distribution areas of BPDB will have to ensure collection of outstanding electricity bills.

Of these, one proposal was submitted by the Ministry of Industries and two by the Prime Minister’s Office. According to official decisions of the meeting, the committee approved a proposal from the Ministry of Industries to import urea fertilizer from Russia through the direct procurement method in a move aimed at ensuring a stable supply of the essential agricultural input.

The committee also endorsed, in principle, a proposal from the Prime Minister’s Office regarding the Development Agreement and Land Lease Agreement signed with Bangladesh CEIZ Company Limited, a Special Purpose Company (SPC), for establishing the CEIZ at Anwara Upazila in Chattogram. The planned economic zone is expected to attract substantial Chinese investment, promote industrialization, create employment opportunities and strengthen economic cooperation between Bangladesh and China.

In another decision, the CCEA approved a proposal related to the establishment of a Free Trade Zone.  The approval covers the specific recommendations put forward by the Bangladesh Economic Zones Authority (BEZA) based on the findings of a committee report. The decisions are expected to facilitate foreign investment, enhance industrial development and support the country’s long-term economic growth strategy.

It brought together class representatives, teachers, members of the Board of Studies, syllabus sub-committee members, councilors and syllabus resource persons. The event focused on the revised curriculum covering Certificate, Professional and Advanced levels, highlighting changes introduced since the previous syllabus and discussing implementation strategies. Participants also emphasized the need for continuous curriculum enhancement to develop future-ready chartered accountants.

Welcoming the participants, ICAB Acting Chief Executive Officer (CEO) Mostafa Kamal, FCA, said the institute remains committed to providing a globally competitive professional education framework aligned with international standards, technological advancements and evolving business needs. He noted that the revised syllabus reflects ICAB's vision of producing professionals capable of thriving in an increasingly dynamic and digital economy. Speaking on the occasion, ICAB Vice-President (Education and Training) and Chairman of the Board of Studies Md Rokonuzzaman, FCA, underscored the importance of the Revised Syllabus-2025 in developing competent, ethical and innovative chartered accountants. He said the new curriculum is designed to strengthen critical thinking, analytical skills, professional judgment and practical competencies essential for success in today's changing business landscape.

He informed the workshop that the revised syllabus is scheduled to be implemented from the examination sessions due in November-December 2026. He also revealed that another version of the syllabus, aligned with the "Next Generation ACA" model of the Institute of Chartered Accountants in England and Wales (ICAEW), is under consideration and may be introduced between late 2027 and early 2028. ICAB President N K A Mobin, FCA, highlighted the institute's ongoing efforts to modernize its education system and learning methodologies. He described the revised syllabus as a strategic initiative to nurture chartered accountants capable of leading organizations, promoting sustainable growth and contributing to the country's economic development. A detailed presentation on the revised syllabus was delivered by Professor Dr. Ali Noor, Dean of the Faculty of Business Studies at Jagannath University and Convener of the Syllabus Sub-Committee of the ICAB Board of Studies.

The presentation outlined key features of the curriculum, including outcome-based learning, enhanced professional skills development, updated technical content, modern assessment methods and stronger alignment with international best practices. The presentation was followed by an interactive discussion and feedback session where participants shared views and suggestions on various aspects of the curriculum. Questions raised during the session were addressed by syllabus resource persons and policymakers.

Concluding the workshop, Mohammad Redwanur Rahman, FCA, co-chairman of the Board of Studies, thanked participants for their contributions and reaffirmed the board's commitment to the effective implementation of the revised syllabus. The programme ended with a vote of thanks delivered by ICAB Director (Education and Examination) Masud Parvez, FCA. The workshop reflected ICAB's commitment to strengthening chartered accountancy education in Bangladesh and developing highly skilled, ethical and globally competitive professionals. Through the Revised Syllabus-2025, the institute aims to equip aspiring chartered accountants with the knowledge, competencies and leadership qualities needed to contribute meaningfully to the country's economic progress.

"Despite the significant reductions in demand for crude oil and refined products, the buffers in the system continue to erode at a record pace," the agency said. To ease the burden from soaring oil prices due to Tehran's effective closure of the Strait of Hormuz, the IEA organised coordinated stock releases of 400 million barrels to the global market, of which 252 million have been released as of June 12.

"The flow of emergency stocks is expected to decelerate somewhat in June and July," the agency said, after a deal was announced this week to end the war that began on February 28 with US and Israeli strikes on Iran. But the impact of high prices will weigh heavily on demand through this year, with an expected decline of 1.1 million barrels a day compared to 2025 levels. "We see growth rebounding to 2 mb/d in 2027, as a normalisation of trade flows, lower oil prices and an improving economic outlook contribute to the recovery," the IEA said.

Crude has tumbled more than 10 percent this week on optimism for a lasting agreement between the two countries after more than three months of conflict that rattled energy markets and revived inflation.

The latest drop was boosted by a report in The Wall Street Journal that Washington could ease sanctions on Iranian crude as part of the deal to end the war, allowing Tehran to immediately sell crude and refined oil products.

Attention now turns to Friday's official signing ceremony in Switzerland and the subsequent negotiations that will focus on the fate of Tehran's nuclear programme and a plan for the lifting of international economic sanctions.

US President Donald Trump has said the Strait of Hormuz -- through which a fifth of global crude usually passes -- would "completely open" once the peace agreement is signed.

Both main contracts started Wednesday slightly higher after shedding more than five percent on Tuesday before turning negative, though analysts warned that with so many hurdles ahead prices were likely to be sensitive to developments.

"The risks are skewed to the upside," said Fabien Yip, market analyst at IG.

"Any failure at the 19 June signing to produce a durable and transparent agreement -- particularly on nuclear provisions -- could rapidly reverse the recent decline, as each prior false start has demonstrated.

"A sustained recovery in strait traffic remains the most credible evidence that the deal is holding."

Meanwhile, oil industry experts and shipping companies have cautioned that the restoration of normal operations after the strait's near shutdown will take time.

And on Wednesday the OECD said inventories held by member countries fell in May to their lowest level since 1990 as governments drew down stocks to offset the blockage of Gulf crude shipments during the war.

Equity markets mostly advanced ahead of the Federal Reserve's first policy announcement under new, Trump-appointed boss Kevin Warsh.

Tokyo and Seoul enjoyed their best finishes -- both markets building on their breakneck tech rallies.

Shanghai, Sydney, Singapore, Mumbai and Taipei also rose, though Hong Kong, Wellington, Manila, Bangkok and Jakarta all fell.

Paris rose but London and Frankfurt edged down.

The broad gains came after a mixed day on Wall Street, where the Dow hit a fresh record high but the S&P 500 and Nasdaq retreated.

While expectations are for the Fed to stand pat on interest rates, investors will be keeping a close eye on its post-meeting statement for an idea about the policy committee's thinking in light of surging inflation and a strong jobs market.

Data last week showed US consumer prices rose in May at their highest level for three years owing to the impact of surging oil costs caused by the war.

Some observers predict the Fed will eventually announce an increase before the end of the year, despite Trump's previous demands for cuts.

"Warsh... inherits the most divided committee in more than three decades, with three voting members already dissenting against the easing bias in April, while outgoing governor Stephen Miran again voted in favour of a rate cut," said Michael Krautzberger, chief investment officer for public markets at AllianzGI.

"The minutes suggested that the committee's centre of gravity has shifted in a more hawkish direction as uncertainty about the duration and economic implications of the Middle East conflict continues to mount."

He added that "resilient economic activity and indications that labour-market conditions are stabilising support a less accommodative policy outlook".

"In a rapidly evolving economic and geopolitical environment, we expect the (bank) to remain on hold this year," he said.

"But resilient growth, a stabilising labour market and increasing inflation pressures have shifted the balance of risks in a hawkish direction."

- Key figures around 0810 GMT -

West Texas Intermediate: DOWN 1.1 percent at $75.18 a barrel

Brent North Sea Crude: DOWN 0.9 percent at $78.25 a barrel

Tokyo - Nikkei 225: UP 0.7 percent at 69,902.25 (close)

Hong Kong - Hang Seng Index: DOWN 0.7 percent at 24,312.16 (close)

Shanghai - Composite: UP 0.4 percent at 4,108.08 (close)

Seoul - Kospi: UP 1.6 percent at 8,864.24 (close)

London - FTSE 100: DOWN 0.1 percent at 10,484.22

Euro/dollar: DOWN at $1.1606 from $1.1608 on Tuesday

Pound/dollar: DOWN at $1.3418 from $1.3427

Dollar/yen: DOWN at 160.17 yen from 160.45 yen

Euro/pound: UP at 86.50 pence from 86.45 pence

However, bargain hunters gradually entered the market and maintained buying support throughout the day. Following active participation from both buyers and sellers, strong buying interest in the final trading hours pushed the index into positive territory at the close. Market turnover also increased by 1.3 percent to Taka 12.1 billion, compared with Taka 12.0 billion in the previous session. Among the sectors, textile stocks accounted for the largest share of turnover at 15.9 percent, followed by engineering at 11.8 percent and pharmaceuticals at 10.1 percent.

Most sectors posted gains during the session. The information technology sector led the advance with a 3.3 percent rise, followed by services with 3.1 percent and ceramics with 2.0 percent. On the other hand, miscellaneous stocks declined by 3.0 percent while life insurance and general insurance sectors fell by 0.9 percent and 0.8 percent respectively. Meanwhile, trading at the port city bourse ended in negative territory. The Chittagong Stock Exchange's Selective Categories Index (CSCX) and All Share Price Index (CASPI) fell by 17.2 points and 22.0 points respectively at the close of trading.

The central bank said that under the International Monetary Fund's (IMF) Balance of Payments and International Investment Position Manual (BPM-6) accounting standard, the country's reserves were recorded at US$31.24 billion.

Officials noted that the reserve position reflects the country's external sector stability amidst ongoing global economic uncertainties.

The central bank noted that some media reports had calculated so-called distressed loans by adding together classified or non-performing loans, rescheduled loans and written-off loans. It described this method as an inappropriate and technically incorrect approach that led to inflated figures. Bangladesh Bank further stated that there is no internationally recognized or standardized definition of "distressed loans" among global regulatory and policy-making institutions.

While the term is often used to describe loans that are not generating income or are not being serviced regularly, the aggregate calculation used in the reports does not conform to accepted regulatory or accounting practices. Explaining its position, the central bank said rescheduled loans cannot be considered distressed because borrowers continue to make repayments under approved restructuring arrangements. These loans remain active assets that generate cash flow for banks.

It also noted that written-off loans are maintained off-balance sheet in line with international practices and therefore cannot be added to active loan portfolios when assessing the current condition of the banking sector. Bangladesh Bank warned that publication of unverified and technically inaccurate financial data could create negative perceptions about the country's financial stability among domestic and international stakeholders, potentially affecting confidence in the economy. The central bank urged media organisations to exercise greater caution in reporting financial sector data and to verify information with official sources to ensure accuracy and maintain public and investor confidence.

"We will have a respectful but firm discussion," Macron told French television on Monday ahead of the meeting. "Tariffs don't do anyone any good, especially tariffs between G7 countries," Macron said, calling for trade "stability". In the Post interview, Trump said he had asked Macron "not to charge American companies"."If they do, I have no choice but to charge a 100 percent tariff on all champagnes and all wines coming out  of France," he was quoted as saying.

"All he has to do is get rid of the sales tax, and he wouldn't have that kind of pressure," he said of Macron. Gabriel Picard, president of the French Federation of Wine and Spirits Exporters (FEVS), called for preserving a "balanced and constructive trade relationship between France and the United States in the interest of both economies." The dispute "concerns issues that fall outside our scope of action, even though our companies could directly suffer the consequences... This new threat is bad news for our highly export-orientated sector," Picard told AFP. The United States is the biggest importer of French wines and spirits, according to the FEVS, accounting for 21 percent of the overall export market  last year.

French and European wines exported to the United States already face a 15 percent tariff, up from an earlier 10 percent. FEVS said exports of French wines and spirits to the United States slumped by 21 percent last year.

- Repeated threats -

According to the French customs agency, the United States imported 2.9 billion euros ($3.4 billion) of wines and spirits between May 2025 and April 2026, representing 18 percent of total exports. That made it by far the biggest single market for French producers, ahead of the UK (11 percent) and Germany (six percent). Champagne and cognac accounted for 40 percent of the export values, at around 600 million euros each.

Red wines from Bordeaux were next, at 220 million euros, followed by whites from Burgundy at 170 million euros. But some French regions are especially dependent on the US market. Producers of Loire Valley whites send 45 percent of their exports to the United States and Beaujolais sends 30 percent, whereas just 16 percent of  champagne exports go to the US market. In January, Trump threatened 200 percent tariffs on French wine over France's intention to decline an invitation to join his "Board of Peace" aimed at  resolving international conflicts. Canada decided to scrap its digital services tax last year in order to salvage trade talks with the United States, following pressure from Trump.

Proponents for special taxes on big tech firms say the goal is to force them to pay taxes where they carry out business, as well as to counter tax  optimisation strategies. During his first term Trump also threatened to set tariffs on US imports of champagne and French cheese.

On June 14 alone, expatriate Bangladeshis sent home US$179.08 million through official banking channels. The steady inflow of remittances has also strengthened the country's external sector performance during the current fiscal year.

According to the data, total remittance inflows stood at US$34.30 billion during the period from July 2025 to June 14, 2026, compared with US$28.69 billion received during the corresponding period of fiscal year 2024-25. As a result, remittance earnings recorded a robust 19.54 percent growth during the current fiscal year up to June 14, 2026.

Opening the session, AmCham President Syed Mohammad Kamal welcomed several budget measures, including VAT exemption on recycled cotton, zero-percent turnover tax incentives for startups and technology-driven businesses, and continued support for renewable energy through tax exemptions and rebates. While appreciating these initiatives, he said some concerns of the business community remain unresolved and stressed the need for further tax rationalization to encourage investment, business expansion, and long-term economic development.

Delivering the keynote presentation, Chairman and CEO of Policy Exchange Bangladesh Dr. M. Masrur Reaz described the proposed FY2026-27 budget as a pragmatic effort aimed at supporting economic recovery while laying the foundation for long-term transformation. He said the budget sends positive signals for private sector-led growth through measures designed to ease business costs, promote investment, and strengthen social protection programmes.

However, Dr. Reaz noted that achieving the budget's objectives would require addressing several challenges, including the ambitious 6.5 percent GDP growth target, significant revenue mobilization requirements, persistent inflationary pressures, and vulnerabilities in the banking and energy sectors. He emphasized that effective implementation would be crucial to translating policy intentions into tangible outcomes. The panel discussion, moderated by MetLife Bangladesh Vice President and Chief Executive Officer Ala Uddin Ahmad, featured Syed Mohammad Kamal, former Standard Chartered Bank Bangladesh CEO Naser Ezaz Bijoy, Centre for Policy Dialogue (CPD) Executive Director Dr. Fahmida Khatun, and PRAN-RFL Group Chairman and CEO Ahsan Khan Chowdhury.

Panelists identified weak revenue mobilization as a major challenge for the FY2026-27 budget, noting that revenue targets remain ambitious amid a subdued economic environment. They warned that increased government borrowing from the banking sector to finance fiscal deficits could crowd out private sector credit, raise interest rates, and limit businesses' access to financing. Such pressures, they said, could constrain investment, business expansion, and job creation, ultimately slowing economic growth. Responding to a question on inflation's impact on vulnerable groups, speakers acknowledged the government's efforts to expand social protection programmes but stressed the need for stronger governance and improved targeting mechanisms.

They observed that weaknesses in beneficiary selection often result in support reaching less needy individuals, while many vulnerable households remain excluded, reducing the effectiveness of social safety net programmes in addressing rising living costs. AmCham Bangladesh welcomed several positive measures in the proposed budget, particularly those promoting sustainability, entrepreneurship, digitalization, and renewable energy. The chamber, however, noted that several of its recommendations remain unaddressed and called for continued reforms to enhance competitiveness, strengthen investor confidence, and accelerate private sector-led economic growth.

The event concluded with a vote of thanks by AmCham Treasurer Reza-Ur-Rahman Mahmud. The discussion was attended by AmCham Executive Committee members, former AmCham presidents, officials of the US Embassy, senior government representatives, business leaders, media professionals, and AmCham Executive Director Chowdhury Kaiser Mohammad Riyadh.

The central bank said that under the International Monetary Fund's (IMF) Balance of Payments and International Investment Position Manual (BPM-6) accounting standard, the country's reserves were recorded at US$31.08 billion.

Officials noted that the reserve position reflects the country's external sector stability amidst ongoing global economic uncertainties.

"The Deal with the Islamic Republic of Iran is now complete," US President Donald Trump swiftly confirmed with his own statement on Sunday. Trump also announced that the strategic Strait of Hormuz -- a vital maritime chokepoint through which roughly 20 percent of the world's crude oil supply transits -- would reopen. "I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!"

Soon after, Iran said that the newly announced agreement with the United States put an "immediate end" to the countries' war. "This is a first step deal, not a final peace settlement," Stephen Innes of SPI Asset Management said. "The market will now trade verification," he said including the official signing in Switzerland, mine clearance and Israeli restraint. "It is a marketable ceasefire framework that kicks the hard problems down the road. Iranian compliance, and Hezbollah quiet."

At around 0030 GMT the Nikkei 225 was up 3.91 percent, after briefly jumping above four percent, while South Korea's benchmark Kospi index surged 7.80 percent.

Trump's announcement fuelled a rally on Wall Street on Thursday and oil prices tumbled, although Iran's position was unclear, with foreign ministry spokesman Esmaeil Baqaei saying Tehran "had not reached a final conclusion on the agreement".

Claiming that talks with Iran had been "brought to the highest level of Iranian leadership and approved," Trump said he had "cancelled the scheduled strikes and bombings against Iran this evening."

"Time and place of the signing to be announced shortly," he said.

first 10 days of June as expatriate Bangladeshis continued to send higher amounts of money through

formal banking channels.

According to the latest data, the country received US$1,203.15 million in remittances during the

period from June 1 to June 10, 2026, compared to $956.19 million during the corresponding period of

June last year.

The inflow registered a significant 25.83 percent year-on-year growth, reflecting sustained

confidence among expatriate workers in the country's formal financial system.

On June 10 alone, remittance inflow amounted to $104.84 million, indicating steady momentum in

foreign currency earnings.

Banking sector experts said the continued rise in remittance inflow is playing a vital role in

easing pressure on the foreign exchange market and strengthening the country's external sector.

They said various policy supports, including cash incentives for remitters, simplified banking

services and stricter monitoring against illegal money transfer channels, contributed to the

encouraging growth trend.

Meanwhile, total remittance inflow during the current fiscal year from July 2025 to June 10, 2026

reached $33.96 billion, up from $28.46 billion during the same period of the previous fiscal year,

marking a 19.31 percent growth.

"The underlying philosophy of the proposed FY27 budget appears to be one of economic recovery through human development, private-sector-led growth, and social protection. Alongside physical infrastructure, this budget also emphasises jobs, entrepreneurship, education, healthcare, and welfare," she said. She said that this orientation broadly aligns with the BNP's election manifesto, which stressed employment generation, private investment, business-friendly policies, deregulation, and improvements in the social sector.

Fahmida Khatun made the remarks today while speaking at a media briefing session titled 'CPD's Analysis of the National Budget FY2026-27' at a hotel in the city. She welcomed the introduction of a five-year roadmap for Personal Income Tax (PIT), saying it would provide taxpayers with greater predictability regarding future tax obligations. Fahmida Khatun also praised the proposed incentive-and-penalty mechanism for tax return submissions, including a five percent incentive for early filing, which she believes will strengthen compliance and reduce the need for repeated extensions of filing deadlines.

She highlighted the reduction of corporate tax for private universities, medical colleges and IT-based educational institutions from 15 percent to 10 percent, noting that it had previously recommended such a move to support the education sector. She termed it inspiring that health and education remain among the top five sectors in the Annual Development Programme (ADP).

According to her, the health sector allocation has increased by around 50 percent to Tk 62,852 crore, while education received Tk 1,22,495 crore, marking a 28 percent rise from the previous fiscal year. She also welcomed the introduction of the Family Card and Farmer's Card programmes under the government's social protection framework. The Family Card Programme will support around 41 lakh beneficiaries, including female-headed and landless households, making it the largest women-focused social protection initiative in the proposed budget, she added.

She said that the Farmer's Card Programme is expected to benefit about 42.5 lakh marginal farmers through direct cash assistance and subsidised agricultural inputs, contributing to food security and rural development. Dr. Khatun further praised a number of green and technology-oriented fiscal measures included in the budget. These include a zero percent tax rate for the solar power sector until 2035, reduced annual income tax on electric vehicles (EVs), and the withdrawal of import duties on EV charging equipment.

She also noted the extension of VAT exemptions on locally manufactured computers and ICT products until 2030 and the proposal to remove SIM card taxes, which could help expand digital access. She said the budget offers additional support to domestic industries through VAT exemptions on agricultural fertilisers and raw materials used in medicine production. Fahmida Khatun also welcomed VAT exemptions on imported heart rings and intraocular lenses, saying the measures would help lower healthcare costs for patients.

In her concluding remarks, Dr. Khatun said the larger budget presents an important opportunity for the government to accelerate economic recovery. She added that the strong emphasis on entrepreneurship, education and social welfare provides a solid foundation for building a more humane and inclusive economy, provided that implementation is effective and efficient. CPD Distinguished Fellow Professor Mustafizur Rahman, among others, spoke on the occasion.

International benchmark, Brent North Sea crude, shed 5.0 percent to $85.86 a barrel, on hopes of unblocking the waterway through which large amounts of the world's oil and gas are shipped.

The main US contract, West Texas Intermediate, lost 5.0 percent to $83.32 a barrel.

He said the proposed reforms would have a positive long-term impact on the country's industrial sector and contribute to economic recovery at a time of global uncertainty, persistent inflationary pressures, energy challenges and sluggish investment. The BCI president also welcomed the government's emphasis on developing ten priority sectors, the creative economy and the blue economy, saying these initiatives would help diversify the economy and create new opportunities for sustainable growth.

The chamber appreciated budgetary measures aimed at supporting small and medium enterprises (SMEs), reopening closed industrial units and expanding the tax net, which it believes will strengthen the industrial base and improve revenue collection. Highlighting the need for export diversification, Chowdhury urged the government to include halal products among the country's priority export sectors. 

He said Bangladesh has significant potential to capture a larger share of the rapidly expanding global halal market due to its production capacity and competitive advantages. The BCI also lauded the government's deregulation initiatives aimed at improving the ease of doing business, although it stressed that the success of such measures would depend on effective implementation. While describing the budget as necessary for meeting the development aspirations of a nation of nearly 190 million people, the chamber noted that implementation capacity remains a major challenge.

To ensure successful execution of the budget, BCI recommended preparing detailed action plans and implementation timelines from the beginning of the fiscal year and ensuring active participation of stakeholders throughout the process. The chamber expressed hope that the proposed budget would contribute to the overall development of the economy through reforms, export diversification and industrial expansion, provided the announced measures are implemented effectively.

The chamber noted that the budget has been formulated amid significant economic challenges, including persistent inflationary pressure, global geopolitical uncertainties, elevated interest rates and sluggish investment growth. MCCI welcomed the government's targets of achieving 6.5 percent GDP growth and reducing inflation to 7.5 percent in the coming fiscal year. 

It also appreciated the identification of 10 priority areas aimed at restoring economic discipline and providing relief to citizens. MCCI also welcomed the proposed allocation of Taka 144,338 crore for social safety net programmes, a 13.89 percent increase from the previous fiscal year. 

It particularly appreciated initiatives such as family cards for low-income households and farmer cards that will provide financial assistance through mobile banking channels. The chamber also praised the increased allocations for education and health sectors, with education spending projected to rise to 2.0 percent of GDP and health expenditure to 1.01 percent of GDP. On taxation, MCCI appreciated several business-friendly measures, including raising the tax-free income threshold for individuals to Taka 375,000, introducing a tax calendar under the Income Tax Act 2023, reducing tax payment requirements for appeals, recognizing labour as an input for VAT purposes and shifting VAT return submission from monthly to quarterly.

At the same time, it urged the government to reconsider the proposed increase in the minimum tax rate from 5 percent to 10 percent and the reduction of the investment tax rebate from 15 percent to 10 percent, warning that these measures could discourage savings and penalize compliant taxpayers. The chamber also expressed disappointment over the absence of a refund mechanism for the Minimum Turnover Tax and stressed the need for strong legal and technological safeguards to protect data privacy under new digital connectivity initiatives.

MCCI emphasized that the ultimate success of the budget would depend on institutional good governance, a harassment-free tax regime and efficient revenue administration. It called for full digitalization of tax management and the adoption of risk-based audit systems to improve compliance while fostering a more business-friendly environment. The chamber reaffirmed its commitment to working with the government to ensure economic stability, sustainable growth and inclusive development.

Speaking at a post-budget press conference at the Osmani Memorial Auditorium in the capital this afternoon, following the presentation of the FY2026-27 national budget on Thursday, the finance minister acknowledged that inflation remains one of the country’s biggest economic challenges and warned that the problem cannot be solved through short-term administrative measures alone.

“Inflation is not a three-month issue. It has been building up for years, and over the last three years it has become a persistent challenge. On top of that, the Middle East conflict has added a new external pressure,” he said.

The finance minister noted that Bangladesh is facing both domestic and international inflationary pressures. He said rising global fuel prices, supply disruptions caused by geopolitical tensions and increasing import costs continue to affect local markets.

At the same time, he pointed to structural weaknesses within the economy, including inefficiencies in business operations, logistics and financing.

“Banks are carrying huge capital shortages because of years of looting and money laundering. As a result, the cost of funds remains very high, and that cost is ultimately reflected in prices,” he said.

The finance minister explained that obtaining business permits often takes months, while inefficiencies at ports, customs and regulatory agencies increase costs throughout the production and distribution chain.

“From obtaining a licence to receiving goods from the port and transporting them to factories, costs continue to rise at every stage. All these costs are eventually added to the price consumers pay,” he said.

He stressed that inflation cannot be controlled by market raids or law enforcement actions alone.

“Prices cannot be controlled by deploying police, RAB or government officials. Inflation must be controlled through sound policies and efficient management,” he added.

The government, he said, plans to reduce business costs through deregulation, digitalisation, improved logistics and greater transparency. It also intends to move away from excessive reliance on spot purchases of fuel and essential commodities and instead adopt long-term procurement strategies.

“If we can reduce our domestic cost of doing business, it will have a positive impact on inflation. We want to build reserves and maintain better planning in fuel, food and fertiliser procurement,” he said.

On the issue of government salaries, the minister defended the decision to introduce a new pay scale, noting that public servants have not received a major salary revision for nearly 11 years despite significant increases in living costs.

“The government employees have also been suffering from inflation. While wages in the private sector have adjusted over time, government employees have not had a pay-scale revision for more than a decade,” he said.

Asked whether higher salaries would reduce corruption, the minister replied: “When people face financial hardship, there is naturally a tendency to seek unethical means. We hope that as incomes rise and living standards improve, corruption will decline.”

He added that improving the quality of public services and strengthening accountability would remain essential alongside salary adjustments.

The proposed budget projects inflation at 7.5 percent in FY2026-27 and places strong emphasis on reforms aimed at lowering structural business costs and improving economic efficiency.

Information and Broadcasting Minister Zahir Uddin Swapon, Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood, Education minister Dr. A N M Ehsanul Hoque Milon, Health and Family Welfare Minister Sardar Md. Sakhawat Husain, Agriculture Minister Mohammed Aminur Rashid, State Minister for Planning Zonayed Abdur Rahim Saki, Adviser to the Honorable Prime Minister on Post, Telecommunication and Information Technology Rehan Asif Asad, Prime Minister's Adviser and PMO Spokesperson Dr Mahdi Amin, Prime Minister's Special Assistant on Investment and Capital Market Tanvir Gani, Cabinet Secretary Nasimul Gani, Principal Secretary to the Prime Minister A B M Abdus Sattar, Bangladesh Bank Governor Md Mostaqur Rahman, Finance Secretary Dr. Md Khairuzzaman Mozumder, chairman of the National Board of Revenue (NBR) Md. Abdur Rahman Khan were present on the dais.

“We have to move towards an investment-driven economy. If we continue to rely excessively on borrowings, especially from local banks, sustainable growth will be difficult to achieve,” he said. Addressing a post-budget press conference at the Osmani Memorial Auditorium in the capital this afternoon, the minister said government borrowings from domestic banks have historically crowded out private-sector investment and limited economic dynamism.

The finance minister noted that the government has already reduced planned bank borrowings compared with the previous fiscal year and intends to further diversify financing sources. “We are gradually moving from a debt-dependent economy towards equity and investment-driven economy,” he said. A central pillar of the government’s strategy, he said, is a broad deregulation agenda aimed at reducing bureaucratic barriers and improving the overall investment climate.

“If we cannot implement deregulation effectively, neither local nor foreign investors will invest in Bangladesh,” he warned. To ensure implementation, the government plans to establish a high-powered oversight mechanism and digital monitoring system to track delays and hold officials accountable. The minister said investment reforms would be accompanied by extensive social protection programmes to ensure that economic growth remains inclusive.

Highlighting the Family Card programme, he said the initiative is designed to support vulnerable households without any political discrimination. “We are providing services to citizens, not to political parties. The budget is for every citizen of Bangladesh,” he said. According to the minister, a pilot phase involving around 37,000 beneficiaries has already produced encouraging results. “We were surprised by the success of the pilot programme. The error rate was only over one percent, and we are correcting those issues before expansion,” he said.

The government plans to expand the programme significantly, eventually covering around 4.1 million women across the country in the next fiscal year. The finance minister stressed that beneficiaries are selected through objective criteria rather than political considerations. He also highlighted other major initiatives, including Farmer Card, universal healthcare programmes, skills-development projects and investments in the creative economy.

Referring to the creative economy initiative, the minister said the government aims to support rural artisans, musicians, performers, designers and cultural entrepreneurs by providing financing, design support, training and market access. “Bangladesh has enormous untapped potential in culture, tourism and creative industries. We want to monetise these opportunities and bring millions of people into the economic mainstream,” he said.

The minister said creative industries would also complement tourism development and strengthen Bangladesh’s cultural presence internationally. Reiterating the philosophy behind the budget, he said the government’s objective is to ensure that every segment of society—from farmers and workers to entrepreneurs and artists—benefits from economic growth. “Bangladesh comes first. This budget has been designed for all citizens, regardless of background or political affiliation,” he said, adding that they have already taken decision that there would be no political appointment in the financial sector.

Information and Broadcasting Minister Zahir Uddin Swapon, Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood, Education minister Dr. A N M Ehsanul Hoque Milon, Health and Family Welfare Minister Sardar Md. Sakhawat Husain, Agriculture Minister Mohammed Aminur Rashid, State Minister for Planning Zonayed Abdur Rahim Saki, Adviser to the Prime Minister on Post, Telecommunication and Information Technology Rehan Asif Asad, Prime Minister's Adviser and PMO Spokesperson Dr Mahdi Amin, Prime Minister's Special Assistant on Investment and Capital Market Tanvir Gani, Cabinet Secretary Nasimul Gani, Principal Secretary to the Prime Minister A B M Abdus Sattar, Bangladesh Bank Governor Md Mostaqur Rahman, Finance Secretary Dr. Md Khairuzzaman Mozumder, chairman of the National Board of Revenue (NBR) Md. Abdur Rahman Khan were present at the dais.

Finance Minister Amir Khasru Mahmud Chowdhury today announced the national budget for the FY 2026-27 in the Jatiya Sangsad Bhaban. 
Presenting the budget, the minister said enhancing legal and scientific capacity to protect women and children remains one of its highest priorities which will strengthen women’s empowerment, child protection, social security and rehabilitation initiatives across the country.

Under the multi-sectoral programme to prevent violence against women, a National Forensic DNA Profiling Laboratory and seven divisional DNA screening laboratories have already been established to strengthen investigation and justice mechanisms.

To bring emerging and aspiring women entrepreneurs under a formal state framework, the government is compiling a comprehensive national database. The initiative is expected to facilitate training opportunities, access to credit and stronger market linkages for women entrepreneurs.

The budget speech also highlighted specialised adaptation projects for women living in coastal regions to enhance resilience and strengthen their capacity to cope with climate change challenges.

To increase women’s economic self-reliance, the second phase of the Income-Generating Activities (IGA) Training Project for Women is being implemented successfully at the upazila level.
Under the Vulnerable Women Benefit (VWB) programme, 1,040,000 women across 4,586 unions in 493 upazilas are currently receiving 30 kilograms of rice and fortified rice every month.

The government is also implementing extensive social awareness and parenting programmes to ensure the proper development, protection and social security of children from conception to eight years of age.

A ‘Quick Response Team’ has been formed to respond immediately to incidents of violence against women as well as children and strengthen integrated support services.

To support working women, the government has undertaken an initiative to establish 20 modern daycare centres in the first phase, followed by an additional 60 centres in the next phase to facilitate greater participation of women in the workforce.

Specific projects have also been adopted to ensure social security and rehabilitation support for returnee female migrant workers with the aim of reducing migration-related vulnerabilities.

The government announced special long-term rehabilitation initiatives for street children and children at risk. Measures include reintegrating educated and trained children into their families and providing financial assistance to those households.

For girl children in conflict with the law, Child Development Centers are currently providing accommodation for an average of 350 girls annually while ensuring legal aid, social protection and access to justice.

At present, 33 Integrated Child Rehabilitation Centers are operating across 17 districts, offering separate accommodation and livelihood facilities for 3,300 boys and 3,300 girls through government support.

Special action plans are also being implemented for children with speech, hearing and visual impairments as well as children with autism.

The budget speech further recognised the sacrifice of children who lost their lives during the July Mass Uprising. As part of government support measures, financial assistance was provided to 84 affected families during World Children’s Day and Children’s Rights Week, including a one-time award of Tk 50,000 in prize bonds and a crest of honour.

“A total of Taka 28,881 crore have been proposed for the agriculture sector where Taka 20,935 crore for operating expenditure and Taka 7,946 crore for development”, according to the proposed budget. In 2025-26, the budgetary allocation for the agriculture sector was Taka 27,224 crore and Taka 24,825 crore was in the revised budget. Of the total proposed budget, Taka 22,963.47 crore has been allocated under the head of recurrent expenditure and Taka 5,917.91 crore for capital expenditure. 

Of these allocations, Taka 1671 crore will be spent for wages and salaries, Taka 255.55 crore for administrative expense and Taka 17,001 crore for public nonfinancial corporations subsidies. In the revised budget of 2025-26, Taka 1550.89 crore earmarked for wages and salaries in cash and over Taka 200 crore for administrative expenses. While presenting the national budget of 2026-27, the finance minister said, “We are committed to developing the agricultural sector, which is the foundation of the country's economy and food security, into a self-reliant, climate-resilient and technology driven modern system”. 

The finance minister said special priority was given to ensure affordable price of agricultural inputs including fertilizers, seeds, and irrigation aimed at reducing production costs at farmers’ level, as well as to promoting agricultural mechanization. One of the principal commitments of the present government is to transform agriculture into a key driver of national prosperity, he said. Above all, our objective is to ensure safe food and nutritional security through good agricultural practices and achieve the sustainable transformation of the rural economy, said the finance minister.

For the welfare of the farmers, he said, fishermen, livestock farmers, and salt cultivators have also been brought under the coverage of this special Farmer Card programme which was launched on April 14, this year. As a pre-pilot for the 2025–26 fiscal year, 22,065 farmers have been provided with cards across 11 blocks in 11 upazilas of 10 districts, he said. In the 2026–27 fiscal year, 42.5 lakh cards will be distributed across 100 upazilas, with plans to gradually provide Farmer Card to all farmers in the country.

Through this card, landless, marginal, and small farmers will receive an annual one-time cash assistance of Taka 2,500, along with an additional 10 types of multifaceted benefits as per electoral commitments of BNP. The minister said to strengthen the agricultural sector, agricultural and rural credit programs will be expanded through scheduled banks. Loans at a 4 percent concessional interest rate for the cultivation of pulses, oilseeds, spices, and maize will continue in order to reduce import dependency. In order to address the impacts of climate change, initiatives have been taken to strengthen agricultural research for the development of salt-tolerant and drought-resistant crop varieties, the minister added.

In addition, to create employment opportunities for youth, initiatives have been taken to formulate an “Agropreneurship Start-up Policy” and an “Agricultural Cooperative Policy” to ensure the balanced distribution of modern agricultural technology and agricultural credit on a large scale. 

 “Of this amount, I propose to collect Tk 6 lakh 4 thousand crore through the National Board of Revenue (NBR) and Tk 91 thousand crore from other sources,” he said. Meanwhile, the proposed total expenditure for the upcoming FY 2026-27 is estimated at Tk 9.38 lakh crore, which represents 13.7 percent of GDP and is Tk 1.48 lakh crore higher than the budget of the previous financial year. “Of this amount, I propose an allocation of Tk 3 lakh 16 thousand 75 crore for development expenditure, including Tk 3 lakh crore for the Annual Development Programme(ADP), and  Tk 6 lakh 21 thousand and 925 crore for operating and other expenditures,” he said. 

The Finance Minister said the government has adopted a plan to gradually increase the share of development expenditure in the budget. “In line with that objective, it has been proposed to raise the share of total development expenditure in the fiscal year 2026–27 from 27.27 percent in the current fiscal year (revised) to 33.70 percent and to reduce operating expenditure from 72.73 percent in the current fiscal year to 66.30 percent in the upcoming fiscal year,” the minister said.  He said the total expenditure includes Tk 1 lakh 5 thousand crore for interest payments on domestic debt and Tk 22 thousand 5 hundred crore for interest payments on foreign debt.

In the proposed budget, utmost importance has been given to ensuring social protection for marginalised and low-income groups to achieve the development goals.  At the same time, in allocating resources for the Annual Development Programme (ADP), priority has been given to human resource development and education, health, science, research, and technology which are vital for building a knowledge-based society.

In addition, special emphasis has been placed on the development of physical infrastructure necessary for investment and sustainable development. In the proposed budget, a total allocation of Tk 2 lakh 79 thousand 1 crore has been proposed for the social infrastructure sector, which accounts for 29.74 percent of the total allocation. An allocation of Tk 1 lakh 74 thousand and 988 crore has been proposed for the physical infrastructure sector, representing 18.66 percent of the total budget. For the general services sector, Tk 2 lakh 45 thousand and 117crore has been proposed, which is 26.13 percent of the total allocation. “The increased and highest allocation for the social sector reflects the government’s electoral commitment to giving priority to education, healthcare, and social safety net programmes.” added the Finance Minister.

According to the budget document, the government is undertaking multifaceted initiatives, including the development of railway infrastructure, introduction of modern technologies and establishment of an integrated transportation system. Efforts are underway to strengthen the country's communication network by bringing all districts and major cities under railway connectivity, expanding rail links with seaports and land ports, improving regional and cross-border railway communication and increasing commuter train services.

The document said work is progressing on the construction of dual-gauge double lines, gauge unification, modern signalling systems and the introduction of electric traction. A chord line will be constructed on the Dhaka-Cumilla section of the Dhaka-Chattogram railway corridor. Once completed, the proposed new chord line will reduce the distance between Dhaka and Chattogram by approximately 80 kilometres, bringing the total route length down from 320 kilometres to 240 kilometres.

As a result, train travel time between Dhaka and Chattogram is expected to decrease from the current five hours to only three hours, bringing a transformative improvement to the communication system in the region. The budget document said freight trains carrying goods from Chattogram Port, the Bay Terminal and the Matarbari Deep Sea Port will be able to connect directly to the proposed Dhirashram Inland Container Depot (ICD) through the existing Chattogram-Feni-Cumilla-Brahmanbaria-Bhairab-Narsingdi railway line, further strengthening the country's economy and logistics sector.

Integrated development activities in the railway sector will be further strengthened with greater priority during the tenure of the present government. To this end, initiatives are being undertaken for the construction of new railway lines and rail bridges, procurement of modern locomotives, coaches and wagons and strengthening the maintenance of existing railway tracks and bridges. Measures are also being taken to enhance the capacity of the railway workshops at Saidpur and Pahartali to facilitate the local assembly of coaches and locomotives.

Furthermore, the quality of passenger and freight transport services will be improved through the introduction of new train services, modernization of signalling systems and expansion of optical fibre-based communication networks. To transform Bangladesh Railway into a commercially viable institution, greater emphasis is being placed on freight transport services alongside passenger services, while private investment is also being encouraged.

The document said plans have been undertaken to introduce electric trains, establish high-speed rail connectivity and procure new rolling stock as part of the sector's modernization, while railway infrastructure development will be carried out through Public-Private Partnership (PPP) arrangements.

He said remittance inflows reached a historic milestone in March this year, when expatriate Bangladeshis sent US$ 3.75 billion through official channels, the highest amount ever received in a single month in the country's history. The Finance minister said the record remittance inflow came just one month after the government assumed office and reflected the confidence and trust of expatriate Bangladeshis in the country's democratic administration.

"We expect this positive trend to continue in the coming years," he said. To maintain the momentum in remittance growth, the government will continue to encourage the use of formal channels for money transfers and retain the existing 2.5 percent cash incentive for remittances sent through legal means, he added. The minister expressed optimism that the ongoing measures would further strengthen foreign exchange earnings and contribute to the country's overall economic stability.

The minister also outlined a set of taxpayer-friendly reforms accompanying the budget, including simplifying corporate tax compliance, enabling online income tax return filing and payment, reducing regulatory burden on businesses, expanding allowable business expenditures, and scrapping provisions that disallow costs when withholding tax is not deducted. He added that the process of selecting tax cases for audit and withholding tax verification would be made fully transparent and automated.

Under existing rates, now carried forward, general companies defined under the income tax law face a flat rate of 27.5 percent. Listed companies that transfer more than 10 percent of paid-up capital through IPO are taxed at 22.5 percent, reducible to 20 percent upon meeting additional conditions. Publicly traded banks, insurance companies, and non-bank financial institutions face a 37.5 percent rate, while their non-listed counterparts pay 40 percent. Merchant banks are taxed at 27.5 percent.

Tobacco product manufacturers, including cigarettes, bidis, zarda and gul, face the steepest burden at 45 percent plus a 2.5 percent surcharge. Publicly traded mobile phone operators with at least 10 percent IPO shareholding are taxed at 40 percent, while non-listed operators face a 45 percent rate. Co-operative societies are taxed at 20 percent. Private universities, medical, dental and engineering colleges, and IT-focused private institutions enjoy a concessional rate of 10 percent.

This is the first budget of the current BNP government after it took office through the February 12, general election.

Prices likely to go down

The FY27 budget is likely to reduce prices of Kidney dialysis equipment, heart stents or rings, intraocular lenses (for eye surgery), special assistive devices for persons with disabilities, cancer medicines, active Pharmaceutical Ingredients (API), other life-saving medicines, medical equipment, laptop computers, desktop computers, computer printers, computer monitors, computer accessories, SSD (Solid State Drive), Point of Sale (POS) machines, baby food, all types of spices, all types of dates, all types of fertilizers, veterinary medicines, insecticides and pesticides, poultry, dairy, and fish feed, Electric vehicles (EVs) up to $50,000, Plug-in hybrid electric vehicles (PHEV) up to 2000 cc, electric buses and trucks, E-bikes, EV chargers/stations, solar panels / photovoltaic cells, solar inverters, calcium battery packs, Battery Energy Storage Systems (BESS), solar panel mounting structures, smart cards (banking cards), Sewage Treatment Plants (STP), mortuary refrigerators, cosmetic and beauty products, musical instruments (e.g., piano, guitar, violin, etc.), cinematography cameras and projector accessories, hair care and beauty products, jewelry, SIM cards, electric cookers, induction cookers, infrared cookers, water purifiers, water heaters, irons, locally produced products, mobile phones, refrigerators, freezers, Washing machines, ATM machines and CCTV cameras.

Prices likely to go up

On the other hand, prices are likely to increase for Cigarettes and tobacco products nicotine pouches, locally produced alcoholic beverages in Bangladesh, passenger vehicles with 1200–1600 cc engine capacity, imported washing machines, imported copper tubes, imported cold-rolled and coated coils/sheets, imported transformers (1 kVA capacity), imported DC motors up to 1200 watt capacity, imported honey, imported coffee, imported cashew nuts, imported toys, imported tiles, imported toilets and basins, imported paints and sanitary fixtures, imported mayonnaise and edible oils, imported potato chips, imported leather and leather products and MS (mild steel) products.

Placing the national budget in the parliament, the finance minister said the proposed health allocation would account for 1.01 percent of the country's Gross Domestic Product (GDP), up from 0.58 percent of GDP in the revised budget of the outgoing fiscal year.

“I propose an allocation of Tk 69 thousand and 409 crore for the Ministry of Health and Family Welfare in the fiscal year 2026-27, which is equivalent to 1.02 percent of GDP. In the revised budget for fiscal year 2025-26, the allocation for this sector was Tk 35 thousand and 477 crore, representing 0.58 percent of GDP,” he told parliament while unveiling a Tk 9.38 lakh crore national budget.

The minister described the increased allocation as the first major step towards fulfilling the BNP government's electoral commitment to gradually raise health spending to 5 percent of GDP within the next five years.

“Building a healthy nation is the prerequisite for sustainable development and a prosperous Bangladesh,” he said, adding that years of neglect, corruption, political interference and lack of accountability had weakened the country's healthcare system.

Outlining the government's policy direction, Khosru said the administration aims to transform Bangladesh's healthcare system from a treatment-centred model to a prevention-focused one by strengthening primary healthcare, expanding immunisation, improving maternal and child health services, enhancing nutrition programmes and ensuring early detection of non-communicable diseases.

A key feature of the government’s plan is the establishment of modern primary healthcare units in every union and urban ward, a commitment included in the BNP manifesto. The government has already begun implementing the initiative, with each unit to be supported by three community clinics providing preventive healthcare, maternal and child services, nutrition support and primary medical care at the grassroots level.

The minister also announced plans to introduce a nationwide Health Card system under universal health coverage. Linked to an Integrated Patient Management System and Referral System, the digital platform will allow healthcare providers across the country to instantly access patients' medical histories, prescriptions and diagnostic records.

To strengthen secondary healthcare, district hospitals and upazila health complexes will be integrated into comprehensive healthcare units, while complex surgeries and specialised treatment will be concentrated at district headquarters hospitals. A National Ambulance Pool and Emergency Services Network will also be established to improve patient transportation.

The minister said the government would continue strengthening immunisation programmes after successfully administering measles-rubella vaccines to nearly all eligible children within its first 100 days in office following a nationwide measles outbreak.

Significant emphasis was also placed on healthcare workforce expansion. The government has initiated the recruitment of 5,000 MBBS doctors to fill long-vacant positions and launched the process of hiring 100,000 additional health workers, around 80 percent of whom are planned to be women, to strengthen preventive and community healthcare services.

The budget also outlines reforms in medical education, including the introduction of a modern competency-based MBBS curriculum by 2030, enhanced use of artificial intelligence in medical training and expansion of nursing and midwifery education.

Alongside healthcare delivery reforms, the government announced support for pharmaceutical exports, development of an Active Pharmaceutical Ingredient (API) industrial park, expansion of vaccine and medicine supply networks and initiatives to develop a domestic medical equipment manufacturing industry.

Calling healthcare investment a cornerstone of human resource development, Khosru said the increased allocation marked “the beginning of a people-centred, accountable and future-oriented healthcare system”.

The proposed budget, he added, seeks not only to improve healthcare services but also to ensure that “no poor family is ruined by the cost of medical treatment”, reflecting one of the BNP government's central electoral commitments.

The total outlay of the budget has been set at Tk 9.38 lakh crore, the largest national budget in the country's history. This is the first budget of the BNP government this time following a landslide victory in parliamentary election held on February 12 this year. A BNP-led government had last presented its national budget for the fiscal year 2006-'07 under then Finance Minister M. Saifur Rahman. The proposed budget, the largest in the country's history, reflects the government's commitment to economic recovery, investment promotion, human resource development and improved public service delivery.

According to budget documents, the total expenditure outlay has been estimated at Tk 9.38 lakh crore, while domestic revenue mobilisation is projected at around Tk 6.95 lakh crore. The overall budget deficit is expected to stand at Tk 2.43 lakh crore, equivalent to 3.6 percent of the Gross Domestic Product (GDP). The government has set a GDP growth target of 6.5 percent and an inflation target of 7.5 percent for FY27, with the projected size of the economy estimated at Tk 68.30 lakh crore. In his budget speech, the finance minister highlighted the government's priorities in education, healthcare, employment generation, private-sector-led investment and social protection. He reiterated the government's pledge to build a knowledge-based economy and expand opportunities for the country's growing youth population.

The budget speech also featured a series of deregulation and business facilitation measures, including simplification of licensing procedures, modernisation of tax administration and expansion of digital services to improve the ease of doing business and attract both local and foreign investment. Officials said the FY27 budget has been framed in line with the government's electoral commitments and long-term development vision, placing greater emphasis on human capital development alongside macroeconomic stability. The proposed budget will be discussed in parliament before its passage and implementation from July 1, 2026.

The association noted that on May 4, 2026, it had submitted a formal letter to BSEC seeking the removal of the floor prices in order to eliminate market stagnation and restore normal trading activities.  The letter, signed by DBA President Saiful Islam, highlighted that the prolonged floor price restrictions on the shares of Islami Bank and Beximco had hindered normal trading activities for sellers and disrupted the market's price discovery mechanism.

The DBA also pointed out that the floor price system increased the risk of negative equity for investors who had taken margin loans and created a negative perception of Bangladesh's capital market among international investors. Considering the DBA's proposal and the overall market situation, the newly constituted BSEC commission decided to withdraw the floor prices on the shares of Islami Bank Bangladesh PLC and Beximco Limited. Welcoming the decision, DBA President Saiful Islam expressed his sincere thanks and appreciation to Chairman Masud Khan and the commission under his leadership.

The DBA believes that the timely decision will play a significant role in removing long-standing market stagnation, restoring normal trading activities and strengthening investor confidence.  It also said the move would help make the market-based price determination system more effective, transparent and dynamic. The association further expressed hope that under the leadership of Masud Khan, the new commission would undertake necessary reforms to remove regulations and barriers that have long been considered inconsistent with a business- and investment-friendly environment, and take effective steps to build a transparent, modern, sustainable and confidence-based capital market.

Saiful Islam also welcomed and congratulated the newly appointed chairman and all commission members, reaffirming the DBA's commitment to working closely with the regulator and providing full cooperation in promoting capital market development, protecting investors' interests and ensuring market stability.

Stung by surging energy costs, the rupiah has fallen to more than 18,000 to the dollar, a record low. The country's stock market has lost a third of its value in 2026. "This increase is a further step to strengthen the stability of the rupiah exchange rate against the impact of high global volatility due to the war in the Middle East," the central bank said in a statement. It called the move a "preemptive measure to maintain inflation in 2026 and 2027 within the government's target range of 2.5 +/- 1.0 percent".

The hike "is also intended to increase returns and attract foreign portfolio investment inflows into Indonesia". Despite recently tightening the rules for dollar purchases, the central bank has been unable to halt the exchange rate rout. Last week, parliament passed a bill expanding the central bank's mandate to include responsibility for economic growth, and increasing lawmakers' oversight of the institution -- raising fears for its independence.

The rupiah has tumbled more than seven percent this year and has been Asia's worst-performing currency, according to financial outlet Bloomberg News. The global oil price surge caused by the Middle East war has also had a strong impact on Indonesia, a net oil importer. Despite the country's struggles with high crude costs, the government has insisted on leaving heavily subsidised fuel prices unchanged.

The country's trade surplus narrowed to just $89 million in April from $3.3 billion a month before, according to government data. Further fuelling investor concerns, President Prabowo Subianto announced commodity export controls last month, sending a tremor through the markets with investors concerned over "resource nationalism" in the world's largest palm oil producer.

The launch follows a memorandum of understanding (MoU) signed between BDBL and the National Pension Authority on July 14, 2025. To facilitate the service, the bank opened a special SND account at its Principal Branch and integrated its Core Banking System (CBS) with the authority's software platform. Speaking at the function, Dr. Suratuzzaman underscored the growing importance of a comprehensive pension system in the face of changing demographic trends.

 Referring to data from the United Nations Population Fund, he said life expectancy in Bangladesh is projected to increase from the current 73 years to 84.3 years by 2075, while the elderly dependency ratio is expected to rise sharply from 8.6 percent in 2022 to 48 percent by 2075. He said the Universal Pension Scheme is designed to provide social security to the country's 77.4 million labour force, around 85 percent of whom are engaged in the informal sector and remain outside formal pension and provident fund coverage.

 The government aims to bring at least one member from each of the country's 40 million families under the scheme by 2030. Currently, the Universal Pension Scheme offers four packages: Probash for expatriate Bangladeshis, Progati for private-sector employees, Surokkha for self-employed and informal-sector workers, and Somota for low-income citizens. Monthly contributions range from Tk 1,000 to Tk 15,000, with pension benefits determined by the amount and duration of contributions.

The programme has also attracted international support. The Asian Development Bank has pledged a soft loan of US$100 million to strengthen universal pension activities, and a feasibility study is currently underway. Officials said future plans include introducing Shariah-compliant versions of all pension packages to better serve the country's Muslim-majority population, as well as considering lifelong pension benefits for nominees. These initiatives are in line with the government's 2026 election manifesto commitment to establishing pension funds for private-sector workers.

BDBL Managing Director and CEO Md. Jasim Uddin said the bank's involvement in the Universal Pension Scheme would add a new dimension to the country's socio-economic development. Following the inauguration, a special training programme was held for BDBL officials on customer registration, subscription collection and the operation of the integrated CBS software. Citizens can obtain further information and register for the scheme through the official website, (Universal Pension Scheme Portal) (https://www.upension.gov.bd?utm_source=chatgpt.com), or by visiting any BDBL branch.

The market maintained positive momentum throughout the session, supported by broad-based gains across most sectors. Continued accumulation of insurance shares reflected investors' preference for momentum-driven stocks and expectations of short-term returns. Investor sentiment also remained resilient despite the recent withdrawal of floor price restrictions on the remaining two heavyweight stocks, helping the market sustain its upward trend.

Turnover on the DSE increased significantly by 29.4 percent to Tk 13.9 billion, up from Tk 10.7 billion in the previous session. Among sectors, general insurance stocks dominated turnover with 24.4 percent of total transactions, followed by engineering (11.8 percent) and pharmaceuticals (9.4 percent). Sector-wise performance remained mixed. Services advanced by 4.4 percent, financial institutions by 3.1 percent and general insurance by 2.6 percent. In contrast, miscellaneous stocks declined by 4.4 percent, while cement and food sectors fell by 1.2 percent and 0.7 percent, respectively. Out of 396 traded issues, 241 gained, 94 lost ground and 61 remained unchanged.

Meanwhile, the Chittagong Stock Exchange also ended the day in positive territory. The Selective Categories Index (CSCX) edged up by 0.8 point, while the All Share Price Index (CASPI) gained 3.0 points.

During the same ceremony, an Exchange of Notes (E/N) was signed by Siddiky and Saida Shinichi, Ambassador of Japan to Bangladesh, on behalf of their respective governments. Under the agreement, JICA will provide a Development Policy Loan to support Bangladesh in enhancing its economic and energy resilience. The programme is the first Official Development Assistance (ODA) loan initiative under the Partnership on Wide Energy and Resources Resilience Asia (POWERR Asia), a Japanese initiative aimed at addressing energy supply vulnerabilities and supply-chain disruptions across the region.

The programme is structured around two key pillars—strengthening energy resilience and enhancing economic management and governance. Under the energy resilience component, the programme will support policy measures aimed at diversifying energy sources and improving energy efficiency.  It is expected to contribute to a stable power and energy supply through the sustainability of high-efficiency power generation facilities, strengthened grid system planning and increased energy conservation efforts.

The second pillar focuses on economic management and governance reforms and will be co-financed in collaboration with the Asian Development Bank (ADB). Officials said the initiative is expected to help maintain macroeconomic stability, strengthen the resilience of the energy sector and improve the country's overall economic structure. The support comes as Bangladesh continues implementing reforms to ensure sustainable and inclusive growth amid growing uncertainties in the global economy.

The successful conclusion of the agreement before the end of the current fiscal year reflects the strong partnership between Bangladesh and Japan and reaffirms JICA's commitment to supporting Bangladesh's long-term development priorities. The initiative is also expected to further strengthen bilateral friendship and cooperation while contributing to Bangladesh's journey towards resilient and sustainable economic growth.

According to the latest data from Bangladesh Bank released today, remittance inflow reached $33.74 billion till June 8 of FY2025-26, up from $28.41 billion received during the same period of FY2024-25. On June 8, 2026, expatriates sent $107.94 million through official banking channels, reflecting the continued contribution of overseas workers to the country's foreign exchange reserves.

Inflow of remittances also witnessed a year-on-year growth of 7.92 percent reaching US$979.09 million in the first eight days of June. Last year, during the same period, the country's remittance inflow was $907.20 million. 

The scheme will provide refinancing facilities for the establishment of green industries and green factory buildings under Bangladesh Bank's broader sustainable financing framework that covers 70 environmentally friendly products and projects. Under the scheme, participating financial institutions (PFIs) will receive refinance support from Bangladesh Bank at an interest or profit rate of 2 percent per annum, while the maximum lending rate for customers has been capped at 5 percent.

The refinance tenure will range from three to ten years, with a grace period of up to one year. All repayments will be made under the Fixed Principal Method. The circular also prohibits PFIs from imposing any hidden charges or additional fees on borrowers beyond applicable government taxes and duties. The facility will be available to all conventional banks, Islamic banks and financial institutions.  State-owned banks and finance companies are automatically eligible, while private and foreign commercial banks must maintain a classified loan ratio below 10 percent. 

The central bank may relax the threshold up to 15 percent in special cases, depending on institutional performance. Interested financial institutions will be required to sign participation agreements with Bangladesh Bank's Sustainable Finance Department before accessing the fund. To qualify for financing, borrowers must not be loan defaulters according to Credit Information Bureau (CIB) records and must maintain a minimum debt-equity ratio of 70:30. The maximum refinance limit for an individual borrower has been fixed at Tk 100 crore.

For green factory building projects, Bangladesh Bank will recognize certifications from LEED, EDGE, BEEER and GreenARCH in the absence of a dedicated national certification framework.  Foreign certification agencies must collaborate with local partners to ensure compliance with domestic requirements. The circular also requires PFIs to ensure that financed projects comply with standards and regulations prescribed by relevant authorities, including the Department of Environment, Fire Service and Civil Defence, Sustainable and Renewable Energy Development Authority (SREDA), Directorate General of Health Services and the Office of the Chief Inspector of Boilers.

Bangladesh Bank said the initiative is aligned with several national and international development commitments, including the Perspective Plan of Bangladesh, National Sustainable Development Strategy, Intended Nationally Determined Contributions (INDCs), Bangladesh Delta Plan 2100 and the Sustainable Development Goals (SDGs). The Sustainable Finance Department will oversee implementation of the scheme. Participating institutions must submit refinance applications through Bangladesh Bank's E-Refinance Software and provide quarterly utilization reports.

Repayment installments, including interest or profit, will be automatically deducted from the participating institutions' current accounts maintained with Bangladesh Bank every quarter. Failure to maintain sufficient balances will result in penalties based on the applicable refinance rate plus the prevailing bank rate. The central bank warned that submission of false information or failure to submit reports on time may result in financial penalties and exclusion from the refinance programme. 

Bangladesh Bank also reserves the right to conduct on-site inspections to verify proper utilization of funds.

The circular was issued under Section 45 of the Bank Company Act, 1991 (amended 2023) and Section 41 of the Finance Company Act, 2023, and came into effect immediately.

Market operators said investors opted to lock in profits following the recent rally, while many remained watchful of market momentum amid pre-budget uncertainties. The market opened on a volatile note and remained in negative territory throughout the session as selling pressure persisted across major stocks.

Turnover on the premier bourse also fell significantly, dropping 29.9 percent to Tk 10.7 billion from Tk 15.3 billion in the previous session. Among sectors, General Insurance dominated turnover with a 19.2 percent share, followed by Engineering at 13.2 percent and Pharmaceuticals at 12.1 percent.

Most sectors posted losses during the session, with Services, Cement and Financial Institutions registering the sharpest declines. However, General Insurance gained 1.9 percent, while Paper and Tannery sectors rose by 0.7 percent and 0.4 percent respectively. Out of 396 issues traded on the DSE, 98 advanced, 246 declined and 52 remained unchanged, reflecting the prevailing bearish sentiment. The Chittagong Stock Exchange (CSE) also closed lower. The Selective Categories' Index (CSCX) fell by 56.5 points, while the All Share Price Index (CASPI) declined by 84.7 points at the close of trading.

According to the circular, the fund aims to strengthen production activities, revive economic momentum and create direct and indirect employment opportunities by providing working capital support to active CMSMEs facing financial constraints. Under the scheme, Bangladesh Bank will provide refinance to participating banks at an interest or profit rate of 4 percent, while banks may charge a maximum interest or profit rate of 9 percent to end borrowers. The revolving nature of the fund will ensure continued liquidity as repayments are recycled into new financing. Interest will be calculated quarterly in March, June, September and December.

Borrowers will be eligible for a grace period of three to six months before repayment of installments begins. The circular directs Shariah-based banks and Islamic banking windows of conventional banks to provide financing under approved Shariah-compliant models while maintaining the maximum profit rate of 9 percent and complying with all conditions of the scheme.

Active CMSMEs experiencing production or service disruptions due to working capital shortages will be eligible for financing under the fund. Refinance facilities will also be available against renewed working capital loans. However, borrowers classified as defaulters by the Credit Information Bureau (CIB) will not qualify for the facility. Bangladesh Bank said clients already benefiting from other refinance schemes may also be considered for financing under the new fund, subject to banks' assessment and credit limits.

All scheduled banks will be eligible to participate after signing a Participation Agreement with Bangladesh Bank's SME and Special Programmes Department. Banks maintaining an advance-to-deposit ratio (ADR) or investment-to-deposit ratio (IDR) above 70 percent will receive priority in accessing the fund, although they must remain within overall regulatory limits. The central bank said participating banks would bear full responsibility for loan recovery and would be required to repay Bangladesh Bank regardless of whether funds are recovered from borrowers.

To mitigate credit risk, banks may obtain collateral from clients but will not be allowed to charge any fees beyond the approved Schedule of Charges. Bangladesh Bank expects the fund to contribute to income growth, employment generation and the development of import-substituting products and services, while supporting small entrepreneurs and stimulating industrial activity. Issued under Section 45 of the Bank Company Act, 1991, the circular takes immediate effect. Bangladesh Bank also reserved the authority to inspect loan utilization and seek relevant documents from participating banks to ensure compliance with the scheme's provisions.

President of the Sampadak Parishad and New Age Editor Nurul Kabir, General Secretary and Bonik Barta Editor Dewan Hanif Mahmud, The Financial Express Editor Shamsul Huq Zahid, Manab Zamin Editor Matiur Rahman Chowdhury, Prothom Alo Editor Maitur Rahman, Daily Inqilab Editor AMM Bahauddin , The Daily Samakal Editor Shahed Mohammad Ali and Agamir Shomoy Editor Mustafa Mamun attended at the meeting.

During the discussion, the governor highlighted the central bank's efforts to strengthen governance in the banking sector, address challenges facing weak banks and accelerate modernization initiatives. Referring to the merger of weak banks, Rahman said the process was progressing steadily, with a number of administrative and management reforms already completed.  He added that the restructuring efforts would gain further momentum once the integration and development of the banks' Core Banking Systems (CBS) are finalized.

On the issue of non-performing loans (NPLs), the governor said amendments to the Money Loan Court Act are being prepared to expedite the settlement of loan-related cases. He also informed the editors that a new Distressed Asset Management Company Act is being formulated to deal with irrecoverable loans more effectively. The governor further disclosed that $25 million in stolen assets had already been seized in the United Kingdom and that efforts were underway to repatriate the funds to Bangladesh at the earliest opportunity.

Emphasizing the need to keep the banking sector free from political influence, Rahman said the reform initiatives are aimed at ensuring professionalism, accountability and sound governance in bank management and loan disbursement.  He also briefed the delegation on measures taken to safeguard depositors' interests through the reconstitution of boards and management changes at several major banks, including Islami Bank.

Highlighting the central bank's digitalization agenda, the governor said BB envisions an integrated digital financial ecosystem featuring digital nano-loans, artificial intelligence-based credit assessment and the concept of "One Citizen, One Identity, One Wallet." He said wider adoption of Bangla QR would promote cashless transactions and improve revenue collection by bringing customer transactions into the formal reporting framework.

The governor also assured that Bangladesh Bank is providing prompt approval for foreign currency requirements exceeding authorized limits for overseas medical treatment, provided applications are submitted through the relevant banks. In addition, he said the reduction in interest rates for fund discounting under the Usance Payable at Sight (UPAS) facility is expected to help lower the cost of imported goods. The editors offered a number of constructive suggestions during the meeting, while both sides expressed their commitment to continued cooperation for the development and stability of the country's banking sector.

The envoy made the remarks at a meeting between the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and a high-level Indonesian business delegation held at Motijheel in the capital, said a press release. Highlighting the upcoming “D-8 Halal Expo 2026,” scheduled to be held in Jakarta from July 8 to 12, Listyowati  urged Bangladeshi businesses to participate in the exhibition with their products. 

She expressed hope that a high-level Bangladeshi business delegation would attend the event and assured that the Indonesian Embassy in Dhaka would provide all necessary support. Listyowati noted that halal products extend far beyond halal meat and food, encompassing clothing, cosmetics, medicines, healthcare, medical equipment, halal finance and tourism. She described the D-8 Halal Expo as more than a conventional trade exhibition, saying it would serve as a unique platform for strengthening the halal ecosystem among D-8 member countries while promoting trade, investment and business partnerships across multiple sectors.

At the meeting, Director General of Indonesia’s National Committee for Islamic Economy and Finance (KNEKS), Putu Rahwidhiyasa, presented a report on the D-8 Halal Expo 2026. He said Indonesia is not only focused on exporting halal products but is also working to develop a comprehensive halal value chain. Rahwidhiyasa expressed optimism that Bangladesh and Indonesia could further expand bilateral trade by leveraging opportunities within the halal value chain.

According to the report, Indonesia ranked among the top 10 exporters in intra-OIC trade in 2022, trailing only Türkiye and the United Arab Emirates (UAE) among OIC member countries. Indonesia currently ranks sixth globally in the Halal Economy Trade and Investment Index.  The country holds the fourth position in the halal food sector and sixth place in fashion and apparel, demonstrating the strength and diversity of its halal market.

The report also noted that halal food remains the largest contributor to the global halal economy.  Consumer spending on halal food in OIC countries reached approximately US$1.24 trillion in 2023, with an estimated annual growth rate of 6.2 percent.  Spending on halal clothing, the second-largest segment, stood at US$277.9 billion, with an annual growth rate projected at 6.8 percent.

President of the Indonesia-Bangladesh Chamber of Commerce and Industry (IBCCI) and former FBCCI director Mohammad Riyad Ali said the D-8 Halal Expo would provide an important opportunity to observe how D-8 countries incorporate halal practices into daily life and commerce. He added that Bangladesh could also learn from their experiences in improving halal certification systems. Earlier, FBCCI Secretary General Md. Alamgir, in his welcome remarks, said Bangladesh and Indonesia enjoy strong trade relations, although Bangladesh still faces a trade imbalance. 

He expressed the view that participation in large international platforms such as the D-8 Halal Expo would help diversify bilateral trade and unlock new opportunities in the halal economy. He also assured the Indonesian delegation that FBCCI would work sincerely to facilitate the participation of a Bangladeshi business delegation in the D-8 Halal Expo 2026. Among others present at the meeting were former FBCCI directors and business leaders Abdul Haque, Gias Uddin Chowdhury (Khokon) and Md. Abul Hashem, along with representatives from various chambers and associations, members of the FBCCI General Council, and officials from the ministries of foreign affairs, industries and livestock, as well as representatives from BSTI, BIDA, EPB and the Islamic Foundation.

Consumer price rises in the 21 countries that use the euro accelerated to 3.2 percent in May, above the ECB's two-percent target. Analysts expect the central bank's governing council to deliver a quarter percentage point increase to the key deposit rate, taking it from 2.00 to 2.25 percent, when it meets Thursday. "Anything but a rate hike at the ECB meeting would be a big surprise," said ING economist Carsten Brzeski. Higher borrowing costs tend to dampen demand, helping to bring down inflation.

Other major central banks, including the US Federal Reserve and the Bank of England, have so far kept rates on hold as they assess the fallout from the conflict. Thursday's move would mark the first time the Frankfurt-based institution has increased rates since September 2023, as it battled a historic surge in inflation unleashed by Russia's invasion of Ukraine. Following that, the central bank delivered a series of cuts as inflation eased, but has held rates steady since June last year.

Several ECB officials have been laying the groundwork for an increase in borrowing costs in their public remarks. Chief economist Philip Lane signalled in late May a hike is ahead, with comments that he expects the ECB's inflation forecasts to be raised again at Thursday's meeting. "There are several factors related to the Iran war that show that the macroeconomic outlook has gotten worse," he told Japanese business daily Nikkei.

But some economists have criticised the expected hike as it could constrict growth further in the sluggish eurozone by making it more costly for households and businesses to borrow. This comes with the war already adding to headwinds as the single currency area is heavily dependent on energy imports. The European Union last month slashed its growth forecast for the eurozone to 0.9 percent for 2026, down from a previous prediction of 1.2 percent.

Revised data released Friday showed the eurozone economy contracted 0.2 percent in the first quarter. Chief economist at Allianz, Ludovic Subran, told AFP that raising borrowing costs would be a bid to "provide reassurance" that the ECB was keeping an eye on higher inflation. But he added: "This hike is not necessary; the ECB could wait, especially since the slowdown in growth is clear."

ECB officials may however be nervous about waiting too long to act, especially after facing criticism for moving too slowly to tame the inflation surge in 2022. Investors will be watching ECB President Christine Lagarde's post rate-decision press conference closely for any clues about the path forward, although she is expected to stay tight-lipped. Most analysts stress the economic backdrop now is different to that in 2022; inflation was already elevated before the outbreak of the Ukraine war, and the global economy was struggling with post-pandemic supply chain woes.

Given that, they don't expect Thursday's move to herald the start of an aggressive rate-hiking cycle. Jack Allen-Reynolds, deputy chief eurozone economist at Capital Economics, said he thought that the ECB would likely deliver another hike at its next meeting in July, but stop there. The knock on-effects "of higher energy prices on inflation should be limited, meaning that the ECB's tightening cycle will be short," he said.

"The financial and banking sector, both at the Italian and European level, requires a consolidation process that creates large-scale projects capable of supporting the necessary investments," Intesa said. Larger banking groups can "compete with new players and maintain adequate levels of profitability in an increasingly integrated market", it added.

Intesa's bid is also a direct challenge to Banco BPM, which on Sunday said it would invite MPS to discuss a potential "merger of equals" to create Italy's second-biggest bank. BPM said the combined company would be worth "more than EUR50 billion" ($58 billion) and constitute "a new national champion". MPS recently formed the country's third-biggest banking group after buying Mediobanca last year.

Chowdhury possesses multidisciplinary academic qualifications in Law, Finance and Banking, and Computer Science. He has also received advanced professional training from several reputed national and international institutions.

Apart from his extensive regulatory career, he is widely recognized as a trainer, mentor, and guest faculty member in the banking and financial sector. Welcoming the new appointment (effective from June 7, 2026), ICSB expressed confidence that Chowdhury's leadership, regulatory expertise, and commitment to institutional excellence will contribute significantly to advancing the institute's strategic goals and strengthening its professional activities.

Brent crude was up 2.4 percent at $95.32 per barrel, while West Texas Intermediate was 2.3 percent higher at $92.59. Air raid sirens sounded in Israel on Sunday as its military said it intercepted incoming Iranian missiles, the first such barrage since an April ceasefire took hold in the Middle East war.

Iran's powerful Revolutionary Guards called the attack a "warning" after Israel struck Beirut's southern suburbs earlier in the day, threatening wider strikes in the event of repeated aggression. On Friday, Wall Street's key indices closed heavily in the red, hit by a massive sell-off in technology stocks following a recent surge driven by AI investment.

President Donald Trump described on Wednesday the talks as being on the "borderline" between a deal and renewed strikes. Cautious hopes rippled quickly through financial markets. Oil prices fell more than five percent Wednesday, while US stocks rose, though analysts warned investors remained wary after weeks of false starts. Trump, who said earlier that negotiations were in their "final stages," later warned that the window for diplomacy could close quickly.

Iranian foreign ministry spokesman Esmaeil Baqaei said Tehran had "received the points of view of the American side" and was examining them. Overnight gains of US shares, hopes for the end of the war in Iran and drops of oil prices were among factors that cheered Tokyo investors, said brokerage house Monex. "Following the upward trend in the US market", the Japanese market was expected to open with "buying activity dominating today", it said.

The decision "reflects a sustained weakening in fiscal strength that accelerated in 2024 and that we expect to persist," Moody's said. It cited government spending levels, a narrow revenue base and continued fiscal support to state-owned petroleum corporation Pemex as factors that limited the government's ability to stabilize its debt.

Moody's said the government's policy priorities, including pursuing energy sovereignty and a redistributive spending model, had weakened the fiscal outlook. "Mexico's fiscal position has weakened relative to Baa-rated peers and its vulnerability to fiscal shocks has increased," the agency said. Moody's expects near-term economic growth "to remain subdued," and to return to around two percent gradually.

In addition to the cuts, Meta said in April it would cancel plans to hire 6,000 people and shift 7,000 other employees into AI workflow-related roles. In a memo to staff Wednesday, posted by Business Insider, Zuckerberg expressed thanks to departing employees and sought to reassure those remaining.

"It's always sad to say good-bye to people who have contributed to our mission and to building this company," he wrote. "I feel the weight of that." Zuckerberg said he did not expect additional company-wide layoffs this year, and acknowledged the company had fallen short in its communications with staff.

He struck an optimistic tone about the company's direction, saying Meta was "one of the few companies positioned to help define the future" and reaffirming his goal of delivering "personal superintelligence" to users worldwide. The restructuring is the largest company-wide round of cuts since Zuckerberg's 2022-2023 "Year of Efficiency" campaign, which eliminated roughly 21,000 positions. The move comes as Meta dramatically ramps up spending on AI infrastructure. Meta has forecasted capital expenditures to reach between $125 billion and $145 billion for the year -- more than double the company's 2025 outlay.

The licence is of "indefinite duration", according to the Department of Business and Trade website, and will be periodically reviewed. The Labour government also issued a temporary licence loosening sanctions on liquefied natural gas originating from certain Russian plants. The UK had announced in October it would ban imports derived from Russian crude, part of a push to cut off revenues funding Russia's war in Ukraine.

But Starmer said the government was issuing "two targeted short-term licences to phase the new sanctions in and to protect UK consumers". "This is not a question of lifting existing sanctions in any way whatsoever, and we will continue to work with our allies on further sanction packages," he said. Starmer told Zelensky that Britain is "ramping up measures to crack down on Russia's economy including through the new package of sanctions".

The British prime minister said this was part of an "ongoing commitment to do everything possible to debilitate and degrade (Russian President Vladimir) Putin's war machine", Downing Street said. But Conservative leader Kemi Badenoch accused the prime minister of "choosing to buy dirty Russian oil. That money will be used to fund the killing of Ukrainian soldiers". Britain imposed a stringent sanctions regime on Russia following the 2022 invasion of Ukraine, targeting oil exports as well as more than 3,000 individuals and companies.

The decision follows a US sanctions waiver for Russian oil cargoes already at sea, which was extended Monday for the second time as its war against Iran squeezes global oil supplies and sends energy prices soaring. The European Union criticised the US waiver extension at a meeting of G7 finance ministers on Tuesday that the UK was part of.

EU economics commissioner Valdis Dombrovskis said it was not a time to "ease pressure on Russia". But UK Treasury minister Dan Tomlinson said the sanctions easing was "protecting the UK national interest". "The government has announced yesterday this time-limited change to the rules around oil and refining given the extremes of the impacts of the conflict in Iran, and the impact of it washing up on our shores," Tomlinson told Sky News.

Later, trade minister Chris Bryant apologised to MPs for the government's "clumsy" handling of the issue and said he wanted the licences to be as "temporary as possible". In retaliation to US-Israeli strikes launched in February, Iran effectively shut the Strait of Hormuz, a key shipping lane for global gas and oil, though traffic has slowly edged higher during a ceasefire. On Wednesday, the international benchmark Brent North Sea crude remained close to $110 a barrel, far above pre-war levels.

"We're in the final stages of Iran, we'll see what happens," Trump told reporters. "We'll either have a deal or we're going to do some things that are a little bit nasty. But hopefully that won't happen." Later Wednesday, Trump described talks with Iran as "on the borderline" between a deal to end the Middle East war and a resumption of strikes on Iran. All three major US indices powered higher, with the Dow winning 1.3 percent and the Nasdaq 1.5 percent.

Oil prices slid more than five percent while yields on the 30-year US Treasury bond retreated from Tuesday's 19-year peak. "We've been hearing about negotiations for two months, so investors are taking President Trump's rhetoric with a cautious tone," said Jack Ablin of Cresset Capital. Ablin said Wednesday's gains were also fueled by positive results from big-box retailers such as Target, as well as anticipation of earnings later Wednesday from chip giant Nvidia, which has a record of sometimes buoying the broader equity markets.

While Asian markets mostly fell in the wake of losses on Wall Street Tuesday, European indexes gained as bond yields fell back from inflation-driven highs. Oil prices were also under pressure, with the main US contract, WTI, falling under $100 per barrel, but sticking well above pre-war levels. Earlier Wednesday, a South Korea-flagged tanker transited the Strait of Hormuz, one of 26 that Iran's Revolutionary Guards later said it had allowed to pass over the past 24 hours.

Since the United States and Israel began their war with Iran, the Strait of Hormuz -- an energy corridor through which 20 percent of global crude usually transits -- has been effectively closed to shipping. "Oil remains the central macro pressure point," said Sucden Financial analyst Viktoria Kuszak. "We expect the combination of higher yields, a firm dollar and unresolved energy risk to keep risk appetite constrained, with Nvidia earnings the next key test for equity sentiment," she added. A majority of US Federal Reserve policymakers indicated that interest rate hikes could be needed if inflation continued to run persistently above the central bank's two-percent target, according to minutes of their last meeting.

- Key figures at around 2015 GMT -

Brent North Sea Crude: DOWN 5.6 percent at $105.02 a barrel

West Texas Intermediate: DOWN 5.7 percent at $98.26 a barrel

New York - DOW: UP 1.3 percent at 50,009.35 (close)

New York - S&P 500: UP 1.1 percent at 7,432.97 (close)

New York - Nasdaq: UP 1.5 percent at 26,270.36 (close)

London - FTSE 100: UP 1.0 percent at 10,432.34 (close)

Paris - CAC 40: UP 1.7 percent at 8,117.42 (close)

Frankfurt - DAX 30: UP 1.4 percent at 24,737.24 (close)

Tokyo - Nikkei 225: DOWN 1.2 percent at 59,804.41 (close)

Hong Kong - Hang Seng Index: DOWN 0.6 percent at 25,651.12 (close)

Shanghai - Composite: DOWN 0.2 percent at 4,162.18 (close)

Euro/dollar: UP at 1.1629 from $1.1605 on Tuesday

Pound/dollar: UP at 1.3442 from $1.3395

Dollar/yen: DOWN at 158.89 from 159.07 yen

Euro/pound: DOWN at 86.53 from 86.64 pence 

Four of 12 voting officials, however, opposed the outcome, the largest number of dissents since 1992. Three regional Fed presidents -- Beth Hammack, Neel Kashkari and Lorie Logan -- backed the pause but not language in the Fed statement that signaled an inclination towards interest rate cuts. One member, outgoing Fed Governor Stephen Miran, voted for an interest rate cut. The divisions at the Fed will be a key challenge for incoming chair Kevin Warsh, who will be sworn in this week at the White House and who himself has backed interest rate cuts in the recent past.

The meeting's minutes, released after the customary delay of three weeks, revealed divisions on the Fed's path forward. "In discussing risk-management considerations bearing on the outlook for monetary policy, participants assessed that both upside risks to inflation and downside risks to employment remained elevated," the minutes said. The Fed has a dual mandate of keeping inflation to a long-term two-percent target while ensuring maximum employment in the world's largest economy.

US households have been battered by higher-than-expected inflation since the pandemic, with consumer inflation hitting a peak of 9.1 percent in mid-2022. Last month, that figure hit a three-year high of 3.8 percent, fueled by the economic fallout of US President Donald Trump's war on Iran, which has seen energy prices surge due to Tehran's retaliatory action. The US unemployment rate has remained relatively steady over the past year, but job growth has see-sawed between expansion and contraction, prompting concerns about labor market weakness.

Some participants of the meeting expressed concern at the possibility of a long-term conflict in Iran leading to a sustained energy price surge, potentially "creating a greater tradeoff between the Committee's employment and inflation goals." Setting the economy's key interest rate is the Fed's main tool in addressing its dual mandate. Cutting rates tends to boost economic activity and job growth; raising them can cool both inflation and growth. At the meeting, Fed policymakers "generally judged that the current policy rate was within the range of plausible estimates of its neutral level," meaning one with neither a restrictive nor expansionary effect.

Fed policymakers agreed at the meeting that the situation in the Middle East was "contributing to a high level of uncertainty about the economic outlook." Before the United States and Israel launched the war in February, markets had priced in two interest rate cuts for 2026, after the Fed held rates steady in January. Price increases due to the conflict, however, "could necessitate maintaining the current policy stance for longer than previously anticipated," the latest meeting's minutes said. The Fed is now not expected to change rates until late in the year -- after which the next move is expected to be a hike, according to derivatives marketplace CME Group's FedWatch tool. 

President Donald Trump described on Wednesday the talks as being on the "borderline" between a deal and renewed attacks. Cautious hopes rippled quickly through financial markets. Oil fell more than five percent Wednesday, while US stocks rose. But analysts warned investors remained wary after weeks of false starts, and on Thursday crude prices edged up around 0.5 percent.

South Korea's benchmark Kospi index soared 6.8 percent in morning trade -- with Samsung Electronics trading 5.9 percent higher. Samsung's union said late Wednesday that a strike had been put on hold after negotiations with management resumed with the participation of Seoul's labour minister. The labour union at the world's top memory chip maker had planned to begin a strike on Thursday after talks over bonuses broke down -- raising concerns about potential disruption to semiconductor production.

But the strike "will be put off until further notice", it said, adding that it would put a tentative wage deal to a members' vote between May 23 and May 28. Taipei jumped 3.6 percent, Sydney gained 1.6 percent and Singapore was up 0.4 percent. Hong Kong, Shanghai, Bangkok and Wellington were up, but Jakarta lost 1.5 percent.

Adding to tech investors' excitement over the IPO for US rocket and satellite giant SpaceX was a Wall Street Journal report that ChatGPT maker OpenAI could be next. Citing people familiar with the matter, the newspaper said OpenAI was preparing to file for a stock market listing in the coming days, possibly as early as Friday. OpenAI did not immediately reply to a request for comment. But shares in Japan's SoftBank Group -- a major investor in the top US artificial intelligence startup -- skyrocketed 20 percent.

Chip giant Nvidia also posted record quarterly revenue Wednesday, blowing past Wall Street forecasts thanks to insatiable demand for its AI hardware. Overnight gains of US shares, hopes for the end of the war in Iran and drops of oil prices were among factors that cheered Tokyo investors, said brokerage house Monex. "Following the upward trend in the US market", the Japanese market was expected to open with "buying activity dominating today", it said.

In Iran, foreign ministry spokesman Esmaeil Baqaei said Tehran had "received the points of view of the American side" and was examining them. "We've been hearing about negotiations for two months, so investors are taking President Trump's rhetoric with a cautious tone," said Jack Ablin of Cresset Capital.

- Key figures at around 0230 GMT -

West Texas Intermediate: UP 0.5 percent at $98.75 a barrel

Brent North Sea Crude: UP 0.4 percent at $105.43 a barrel

Tokyo - Nikkei 225: UP 3.5 percent at 61,920.02

Hong Kong - Hang Seng Index: UP 0.3 percent at 25,716.38

Shanghai - Composite: UP 0.8 percent at 4,194.28

Pound/dollar: DOWN at $1.3428 from $1.3442 on Wednesday

Euro/pound: UP at 86.55 pence from 86.53

Euro/dollar: DOWN at $1.1622 from $1.1629

Dollar/yen: UP at 158.92 yen from 158.89

New York - DOW: UP 1.3 percent at 50,009.35 (close)

London - FTSE 100: UP 1.0 percent at 10,432.34 (close)

"EU-US trade: Council and Parliament strike a deal to implement the tariff elements of the Joint Statement," said a statement announcing the provisional deal, which puts the bloc on track to meet Trump's deadline.

High energy prices sparked by the Middle East war have fuelled fears of inflation, in turn prompting the bond sell-off. Trump told reporters at the White House on Tuesday that he had been just "an hour away" from relaunching Washington's attacks on Iran before postponing the order, after weeks of a fragile truce and stalled talks to end the war that began late February. "You know how it is to negotiate with a country where you're beating them badly. They come to the table, they're begging to make a deal," he said.

"I hope we don't have to do the war, but we may have to give them another big hit. I'm not sure yet." Iran's army spokesman Mohammad Akraminia warned the Islamic republic would "open new fronts against" the United States if it resumed its attacks. Trump offered a deadline of several days for resuming strikes if a deal was not agreed. "I'm saying two or three days, maybe Friday, Saturday, Sunday, something, maybe early next week, a limited period of time," he said.

Since the United States and Iran began their war with Iran, the Strait of Hormuz -- a key energy corridor which normally sees 20 percent of global crude transit through -- has been effectively closed to shipping. Oil prices above remained above $100 a barrel since then, raising concerns that inflation could remain elevated for longer and erode corporate margins as well as consumer demand. Across Asia, most major markets were in the red, with Tokyo leading losses as the Nikkei fell more than one percent in morning trade.

Sydney, Hong Kong, Singapore, Shanghai, Wellington, Manila and Kuala Lumpur were also trading down. Seoul and Taipei were ahead. The retreat comes just days after a tech-driven rally pushed global equities to fresh highs. But investors are increasingly questioning whether the artificial intelligence-led surge in valuations has outrun underlying fundamentals. Attention is also turning to upcoming earnings from chip giant Nvidia as investors determine whether huge spending on AI data centres is justified by potential returns.

Gold and silver, typically seen as safe-haven assets, held near recent losses as rising yields reduced the appeal of non-yielding assets.

- Key figures at around 0230 GMT -

Brent North Sea Crude: DOWN 0.4 percent at $110.86 a barrel

West Texas Intermediate: DOWN 0.4 percent at $103.78 a barrel

Tokyo - Nikkei 225: DOWN 1.2 percent at 59,855.73

Hong Kong - Hang Seng Index: DOWN 0.7 percent at 25,611.99

Shanghai - Composite: UP 0.6 percent at 4,145.06

Euro/dollar: DOWN at 1.1599 from $1.1606 on Tuesday

Pound/dollar: DOWN at 1.3391 from $1.3401

Euro/pound: UP at 86.62 from 86.60 pence

Dollar/yen: DOWN at 158.96 from 159.04 yen

London - FTSE 100: UP less than 0.1 percent at 10,330.55 (close)

New York - DOW: DOWN 0.7 percent at 49,363.88 points (close)

"Today the Government of the Republic of Indonesia, under my leadership, is issuing a government regulation on the governance of exports of natural resource commodities," Prabowo told parliament.

The 27-nation bloc struck an accord with Washington last July setting levies on most European goods at 15 percent, but to Trump's frustration it had yet to make good on its pledge to scrap levies on most US imports in return. After lengthy talks, negotiators from the EU's parliament and capitals reached a deal to move forward early Wednesday. While broadly welcoming the deal, Germany's auto industry association VDA warned that "newly added safeguard clauses must not lead to the US side terminating the agreement".

"Both sides are therefore now called upon to reliably finalise the negotiations as quickly as possible," the group's president Hildegard Mueller said in a statement. "This also includes a withdrawal of the recent tariff threats by US President Trump," she said. Trump had threatened to raise duties on European cars and trucks from 15 to 25 percent.

The final text empowers the European Commission to trigger a suspension mechanism if Washington fails to meet its commitments or disrupts trade and investment with the EU, and also gives the bloc means to address spikes in US imports that are deemed a threat to domestic producers.

Britain imposed a stringent sanctions regime against Russia following the 2022 invasion of Ukraine, targeting oil exports as well as over 3,000 individuals and companies. The decision follows a US sanctions waiver for Russian oil cargoes already at sea, which was extended Monday for the second time as its war against Iran squeezes global oil supplies and sends energy prices soaring. The European Union criticised the US waiver extension on Tuesday at a meeting of G7 finance ministers that the UK was a part of.

EU economics commissioner Valdis Dombrovskis said it was not a time to "ease pressure on Russia". UK Treasury minister Dan Tomlinson said the sanctions easing was "protecting the UK national interest". "The government has announced yesterday this time-limited change to the rules around oil and refining given the extremes of the impacts of the conflict in Iran, and the impact of it washing up on our shores," Tomlinson told Sky News.

In retaliation to US-Israeli strikes launched in February, Iran effectively shut the Strait of Hormuz, though traffic in the key waterway has slowly edged higher during a ceasefire. Kemi Badenoch, leader of the opposition Conservative party, denounced the move. "After 18 months of 'standing up to Putin' the Labour govt quietly issued a licence allowing imports of Russian oil refined in third countries," Badenoch said on X.

The NBR chief made the remarks while presiding over a business session on "Improving Financial Statement Quality: Role of CFOs, Accountants, Managements and Oversight Bodies" at the "Financial Accounting and Reporting (FAR) Summit 2026" at a hotel in the city. Financial Reporting Council (FRC) organised the summit in collaboration with the Institute of Chartered Accountants of Bangladesh (ICAB) and the Institute of Cost and Management Accountants of Bangladesh (ICMAB).

Mahatab Uddin Ahmed, FCMA - Founder, Buildcon Consultants Ltd; Suraiya Zannath, FCA - Vice President; Ala Uddin, FCA - ICAB Council Member, DMD & CFO MetLife; Zinnia T Huq, FCMA - CFO & Finance Director, Unilever Bangladesh; and Nabil J Ahmad - Executive Director, FRC took part as panellists at the session. Highlighting challenges in the tax system, The NBR chief said that many businesses continue to complain about a high effective tax burden despite a significant reduction in corporate tax rates over the years from nearly 50 percent to around 20 percent.

He attributed part of the problem to inaccurate and manipulated financial reporting, which often forces revenue authorities to adopt discretionary assessments and policy interventions to recover potential revenue losses. According to him, widespread underreporting of turnover and omission of cash transactions have become major concerns in corporate reporting practices, creating friction between taxpayers and tax officials.

He said dishonest financial disclosures not only hurt government revenue collection but also create unfair competition by allowing non-compliant businesses to evade taxes while compliant taxpayers suffer disadvantages. The NBR chief stressed that transparent and accurate financial statements are vital for ensuring a fair taxation system, protecting investors, strengthening banking stability and restoring confidence in the wider economy. He also underscored the importance of strengthening the FRC to ensure better oversight and accountability in financial reporting practices across the country.

Speaking at the meeting, Taskeen Ahmed said New Zealand has established a strong global reputation in dairy production, dairy processing, advanced agriculture, and food safety standards. He noted that Bangladesh could greatly benefit from New Zealand's expertise in dairy processing and livestock feed production, modernization of dairy farms, development of improved cattle breeds, fisheries, veterinary training, and technology transfer. He urged New Zealand's private sector to undertake both joint venture and independent investments in Bangladesh's agriculture, food processing, consumer goods, food supply chain management, water and climate management, and renewable energy sectors.

Referring to the bilateral trade volume of US$497.43 million in FY2025, the DCCI President also called upon New Zealand businesses to increase imports of Bangladeshi products, including readymade garments, leather goods, and ICT-enabled services, to further strengthen bilateral trade ties. David Pine said New Zealand would continue duty-free and preferential market access facilities for Bangladeshi products even after Bangladesh graduates from the Least Developed Country (LDC) category.

He said New Zealand has been placing special importance on ensuring continued market access for Bangladeshi goods following the country's LDC graduation. The envoy also stressed the need to explore trade agreements, including a possible Free Trade Agreement (FTA), to expand bilateral trade and investment opportunities between the two countries. Highlighting evolving global trade realities, he said countries should diversify not only their export destinations but also their import sources. 

He described New Zealand as a reliable trade partner known for high standards, strict food safety measures, and GMO-free products, adding that the country is interested in establishing a stable and long-term trade framework with Bangladesh. DCCI Senior Vice President Razeev H. Chowdhury and Vice President Md. Salem Sulaiman were also present at the meeting.

The theme of the summit was "Trustworthy Financial Reporting: What Really Matters." Finance Minister Amir Khosru Mahmud Chowdhury attended the event as the chief guest, while Prime Minister's Finance Adviser Rashed Al Mahmud Titumir joined as the special guest. Finance Division Secretary Dr Md Khairuzzaman Mozumder chaired the programme. FRC Chairman Dr Md Sajjad Hossain Bhuiyan delivered the keynote presentation, highlighting the importance of transparency, compliance and quality financial statements in ensuring investor confidence and institutional stability.

The summit brought together policymakers, regulators, business leaders, accountants, auditors and corporate executives to discuss the future of financial reporting standards and oversight mechanisms in Bangladesh. In his remarks, Amir Khosru Mahmud Chowdhury underscored the need for rebuilding trust in financial systems through stronger governance, professional integrity and effective regulatory enforcement.

Rashed Al Mahmud Titumir emphasized the importance of institutional reforms and responsible financial management to ensure long-term economic resilience. The event also featured special remarks from Bangladesh Textile Mills Association (BTMA) President (Acting) Md. Abul Kalam, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Mahmud Hasan Khan (Babu), ICAB President NKA Mobin FCA and ICMAB President Md. Kausar Alam FCMA.

Two technical business sessions were held during the summit. The first session, titled "Improving Financial Statements Quality: Role of CFOs, Accountants, Managements and Oversight Bodies," focused on strengthening financial discipline and enhancing reporting standards through coordinated institutional efforts. The second session, "External Audit and Assurance: International Practice and Compliance," discussed global best practices in auditing, regulatory compliance and assurance frameworks. Senior professionals from regulatory bodies, multinational companies, accounting firms and business organizations participated as session chairs and panelists.

The lease agreement was signed by Md. Tanvir Hossain, Executive Director (Investment Promotion) of BEPZA, and Liang Difa, Chairman of Sunshine Outdoor (BD) Co., Ltd. BEPZA Executive Chairman Major General Mohammad Moazzem Hossain, ndc, afwc, psc, G, MPhil witnessed the signing ceremony. The company will produce annually 1.5 million pieces of outdoor products like tent, canopy, bag, duffel bag, waterproof dry bags, and sleeping bag, back pack, tarpaulins, inflatable pillows and mattresses, air pillows, mosquito nets, carpets, mats, folding chairs, and different types of bins & baskets.

 The company is expected to create employment opportunities for 2,975 Bangladeshi nationals. The Executive Chairman of BEPZA thanked Sunshine Outdoor (BD) Co., Ltd. for choosing Bangladesh, particularly the BEPZA Economic Zone, as its investment destination and assured them of BEPZA's seamless cooperation to ensure smooth and successful business operations in the zone. He emphasized that this investment would further accelerate BEPZA's efforts toward export diversification. 

The ceremony was attended by Abdullah Al Mamun, Member (Engineering); Md. Khorshid Alam, Executive Director (Enterprise Services); Samir Biswas, Executive Director (Administration); Khadiza Parvin, Executive Director- Additional Charge (Public Relations); along with senior officials of BEPZA and representatives of Sunshine Outdoor (BD) Co., Ltd.

Earlier, on May 11, CAG Nurul Islam virtually inaugurated the programmes of the special service week at all audit and accounts offices and audit directorates across the country,  During the visit, the CAG inspected various activities conducted under the special service week, including receiving replies to audit objections through the Audit Management and Monitoring System (AMMS-2), quick disposal of objections based on broadsheet replies supported with proper information and evidence, providing necessary advice, reconciliation of audit objections with audited institutions, and issuance of No Objection Certificates (NOCs).

He also exchanged views with directors general and other officials of the concerned audit directorates and was briefed on the progress of the activities. Speaking on the occasion, the CAG said the government has been working relentlessly to ensure faster, transparent and quality public services for the people. He said the present government is continuously working to make the service delivery system easier, more humane, technology-driven and accountable with a view to building a people-friendly administration.

The CAG said various audit operations are carried out through the 17 audit directorates. He noted that the government has attached special importance not only to compliance audits but also to performance audits to ensure economy, efficiency and effectiveness in public expenditure and in achieving the objectives of ongoing and implemented development projects.

In this regard, he provided necessary directives to the directors general of the concerned audit directorates for conducting audits properly. According to the CAG office, special service activities were carried out from May 11 to May 19, 2026 at 17 audit directorates, the Controller General of Accounts (CGA), 50 CAFO offices, offices in eight divisions, 64 districts and 495 upazilas, as well as CGDF, SFC, FC offices in different cantonments, area FC/FPO offices, ADG Finance Bangladesh Railway, FA&CAO and DFA offices in Dhaka, Chattogram and Rajshahi, alongside all audit and accounts offices across the country.

The initiative seeks to address a long-standing challenge for millions of holidaymakers leaving Dhaka, who often struggle to secure tickets both out of the capital and for their return journeys before resuming work. As a digital transformation partner in public transport, bdtickets offers instant booking confirmation and round-the-clock customer support, aiming to curb seasonal travel problems such as ticket scalping and inflated fares. Holidaymakers can book round-trip tickets through the official bdtickets mobile app or website (www.bdtickets.com).

The Minister made the remarks while speaking as the chief guest at the “Financial Accounting and Reporting (FAR) Summit 2026” titled “Trustworthy Financial Reporting: What Really Matters,” organized by the FRC in collaboration with the Institute of Chartered Accountants of Bangladesh (ICAB) and the Institute of Cost and Management Accountants of Bangladesh (ICMAB) at the Pan Pacific Sonargaon hotel in the city. Amir Khosru Mahmud Chowdhury said that the economy currently stands at a crossroads following years of turbulence that weakened several key institutions.

,He expressed deep concern over widespread financial indiscipline in the banking and capital markets, noting that a number of companies entered the stock market through false disclosures and misleading financial representations. According to him, such practices discouraged fundamentally strong companies from participating in the market under fair competitive conditions. Emphasizing the importance of proper price discovery and asset valuation, he warned that the existing weaknesses have contributed to a serious capital deficit in both the banking industry and the private sector.

The minister linked the situation to rising Non-Performing Loans (NPLs), money laundering, and cases where bank owners and management allegedly colluded to siphon off funds. He also criticized the long-standing culture of treating banks as privately owned entities despite operating with depositors’ money, stressing that conflicts of interest must be addressed decisively to restore discipline and public confidence in the sector. Calling for stronger professional responsibility, the minister urged the ICAB and the ICMAB to ensure rigorous self-regulation among their members.

While acknowledging the oversight role of the Financial Reporting Council, he said the primary responsibility for maintaining the quality and credibility of financial reporting ultimately lies with accounting professionals themselves. Referring to his earlier experience, the minister cited a successful example where responsibility for issuing Utilization Certificates was delegated to a private-sector association, arguing that self-regulation can be highly effective when exercised with professionalism and accountability.

Despite the challenges, he highlighted growing international interest in Bangladesh’s economy, revealing that major global fund managers, including JPMorganChase and investment funds based in London and Hong Kong, have shown strong interest in investing in Bangladesh. However, he cautioned that attracting such investment would depend heavily on the credibility of audited financial statements and compliance with international accounting standards.

“If investors find that reporting does not meet standard accounting practices, that are the end of the story,” he warned. The minister concluded by urging stakeholders in the financial sector to move beyond short-term interests and focus on building a sustainable and professionally managed economic system.  He reaffirmed the government’s commitment to carrying out comprehensive reforms in the banking and capital markets to establish a stronger foundation for long-term economic stability and investor confidence.

Prime Minister’s Finance Adviser Rashed Al Mahmud Titumir attended the summit as the special guest, while Finance Division Secretary Dr. Md Khairuzzaman Mozumder chaired the session. FRC Chairman Dr. Md Sajjad Hossain Bhuiyan delivered the keynote address at the summit, which brought together senior government officials, accounting professionals, auditors, valuers, actuaries, and business leaders. The event also featured business sessions on improving financial statement quality and strengthening external audit and assurance practices in line with international standards.

Financed by the Department of Foreign Affairs of the Australian government, the programme was jointly organized by Bangladesh Livestock Research Institute (BLRI) and Australian leading Charles Sturt University (CSU). The main theme of the seminar was “Climate-resilient food systems–practical solutions and partnerships”. The minister said, safe and nutritional food now becomes very much important in the present world. Invention of genetically modified or GMO food could not achieve full benefit for the people.

So, people are ultimately waiting for safe and organic food for getting overall health benefit. Regarding the research-based invention of Napier grass, a feed commonly used across the tropics and subtropics for dairy and meat production, the minister said the new grass variety which containing 18 percent protein, has been invented. Noting that the innovation of such high-protein and drought tolerant grass variety for the livestock is a remarkable progress in the livestock sector, he said this innovation will play a significant role in producing high quality animal feed in low cost.

The animal feed will reduce meat production cost and it would possible to bring the meat price comparatively at a tolerable limit for the common people, the minister added. Addressing the researchers and scientists, Rashid said opportunity should be created for conducting research and innovative works for the welfare of the country. The innovation by the Bangladeshi scientists will get recognition in coming days at the international level and it will more enrich country’s livestock and agriculture sector. 

Regarding the higher livestock feed cost, state minister for fisheries and livestock Sultan Salauddin Tuku said if the livestock feed cost is reduce the meat production cost will also come down enabling the consumers to buy meat at affordable price. He emphasized research and technology based initiative aiming to ensure quality grass and animal feed in less cost. With BLRI Director General (DG) Dr Shakila Faruque in the chair, the seminar also was attended by fisheries and livestock secretary M Delwar Hossain and Australian Deputy High Commissioner to Bangladesh Clinton Pobke.

Director General of the Department of Livestock Services (DLS) Shahzaman Khan also spoke on the occasion. BLRI director Dr M Zillur Rahman and Professor of Farming Systems and Deputy Director of the Gulbali Institute at Charles Sturt University Professor Cameron Clark gave the welcome address at the seminar. BLRI’s senior scientific officer and project coordinator Dr Mohammad Khairul Bashar presented a key note paper titled ‘Environmentally sustainable low-cost beef production practical solutions and partnership”.

Both sides "agreed to continue working together to define concrete areas of technical collaboration for the benefit of the economic and social development of the Venezuelan people," it added. The renewal of relations between Caracas, the World Bank and the International Monetary Fund -- which had been frozen since 2019 -- has opened the door to possible financial support for Venezuela, if the government asks for it. The January capture by US special forces of Venezuelan leader Nicolas Maduro prompted the IMF to poll its members about how to proceed, and if they saw Rodriguez as the country's legitimate leader.

At the same time, the United States has heaped pressure on Caracas to open its flailing economy to foreign investment, particularly in its energy sector. Venezuela has the world's largest proven crude oil reserves, but its infrastructure is dilapidated and has suffered from corruption and underinvestment. Washington has lifted a large number of sanctions targeting Caracas, and direct flights between the two countries are progressively resuming. Increased exchanges between global financial institutions and Venezuelan leaders could reassure investors who are hesitant to commit funds to the fledgling government.

"This included an initial commitment for 200 aircraft and we expect further commitments will follow after this initial tranche," Boeing said, without specifying which models were on the negotiating table. When asked by AFP to specify which planes were part of the deal, Boeing declined to comment. The group thanked the Trump administration "for making this milestone happen," adding: "We now look forward to continually addressing China's aircraft demand."

In its latest 20-year outlook for global commercial aviation, published in June last year, Boeing estimated that 44,000 planes would be built worldwide by 2044, both to replace the existing roughly 21,000 aircraft in use and to respond to a growth in demand. About half of that demand is expected to come from China, South Asia and Southeast Asia -- music to the ears of Boeing executives, who really only have one major competitor, Europe's Airbus. China's last order from Boeing dates back to 2017, when Trump went to Beijing at the start of his first White House term. At that time, it ordered 300 single-aisle and wide-body planes -- a mega-deal valued at $37 billion.

On Thursday, Trump had said China planned to order "200 big ones," in an interview with Fox News host Sean Hannity. "I think it was a commitment," the president said. "That's a lot of jobs." Speaking to reporters aboard Air Force One as he flew home from China, Trump said the deal included "a promise of 750 planes, which will be by far the largest order ever, if they do a good job with the 200." US media have reported for several months that Beijing was poised to make a major order from Boeing that would include 500 single-aisle 737 MAXs and about 100 larger 787 Dreamliners and 777s.

The overall record in terms of number of planes for an aircraft order came from IndiGo, which purchased 500 Airbus A320s. China was the last country in the world to reauthorize flights by Boeing 737 MAXs, after two fatal accidents on Lion Air in 2018 and Ethiopian Airlines in March 2019 that left a total of 346 people dead. The 737 MAX family, Boeing's top seller, was grounded worldwide for 20 months after the accidents. It returned to the skies in the United States in November 2020 and in Europe in January 2021 -- but only in 2023 in China.

In 2019, Beijing had suspended all deliveries of Boeing aircraft. Four years later, in December 2023, it gave the green light to a delivery of 787 Dreamliners, and for 737 MAXs one month later. Chinese regulators again halted deliveries for a few weeks in mid-2024 over a lithium battery issue in several models. Boeing, the biggest US exporter by dollar value, was caught up in the tariff war launched when Trump returned to the White House in January 2025.

Beijing retaliated by forbidding Chinese companies from ordering Boeing jets -- or receiving those already ordered. The world's top two economies reached a trade war truce late last year, allowing Boeing to resume normal activity with Chinese customers. As of late last month, Boeing had 6,814 planes on order, including 4,371 737 MAXs, for a total value of an estimated $600 billion. 

Hasriya had been governor since April 2025, taking over from Maysa Sabreen, who had been appointed caretaker governor in December 2024, after an Islamist-led offensive toppled longtime president Bashar al-Assad. Hasriya oversaw the change in Syrian money bills at the start of the year, removing two zeros, which does not impact the currency's value but was done to make transactions easier and restore trust in the Syrian pound.

They also replaced bills showing images of Assad and his family. The governor change is the latest since a partial overhaul last week saw Sharaa replace two ministers, several governors and even the secretary-general for the presidency, a post previously occupied by his brother Maher. The reasons behind the overhaul are unclear.

The dollar firmed against the British pound, the euro and the yen. The London, Paris and Frankfurt stock markets all ended the day with losses of more than 1.5 percent. "It's been a strong, strong rally and there are some valid reasons for a pause," said Angelo Kourkafas of Edward Jones. "Today the catalyst is really the rally in bond yields, bond markets are under pressure as oil prices rise. There are some growing worries about government debt as countries potentially look to cushion the impact of higher energy prices via some consumer support."

Rising crude futures also pushed up government bond yields, including in Britain, where Prime Minister Keir Starmer faced fresh threats to his leadership. The yield on 30-year UK government bonds reached 5.869 percent, surpassing Tuesday's mark to hit its highest level since 1998, as investors demanded higher returns to reflect growing inflation risks. In Japan, the 30-year bond rate hit four percent for the first time since 1999.

"The equity markets have been supported by fast-rising corporate profits and all the AI investments, while bond performance has been reflecting the concerns around energy and inflation," said Kourkafas. Investors were left disappointed as a highly anticipated summit between US President Donald Trump and Chinese leader Xi Jinping in Beijing failed to deliver major breakthroughs on the Middle East war or trade relations. Washington and Beijing both said trade agreements had been made, but no details were shared. Trump told Fox News that Beijing had voiced interest in buying US oil and soybeans.

He also said he did not bring up the issue of tariffs -- on pause since October -- during the summit. China's top diplomat later said the two countries had agreed to continue implementing "all" agreements previously reached and to establish councils for trade and investment. "The meeting... was big on warm words and symbolism but not outcomes," said Susannah Streeter, chief investment strategist at Wealth Club.

"With diplomatic efforts aimed at resolving the Middle East conflict in limbo, fresh uncertainty has flooded in," she added. The White House said the leaders had "agreed that the Strait of Hormuz must remain open to support the free flow of energy." But investors had hoped for more progress toward reopening the crucial strait, where oil tanker traffic has ground to a near standstill since the outbreak of the war, sending energy prices soaring.

Trump also told Fox News on Thursday that he was "not going to be much more patient" with Iran. "Stalled US-Iran diplomacy keeps supply fears firmly in focus," said Matt Britzman, senior equity analyst at Hargreaves Lansdown. "Even if resolved next month, the oil market could remain undersupplied through October, keeping inflationary pressures high and adding another headache for consumers, central banks, and, eventually, investors," he added.

In Asia, Tokyo stocks closed two percent lower, while Hong Kong and Shanghai fell more than one percent.

- Key figures at around 2000 GMT -

Brent North Sea Crude: UP 3.4 percent at $109.26 a barrel

West Texas Intermediate: UP 4.2 percent at $105.42 a barrel

New York - DOW: DOWN 1.1 percent at 49,526.17 points (close)

New York - S&P 500: DOWN 1.2 percent at 7,408.50 (close)

New York - Nasdaq Composite: DOWN 1.5 percent at 26,225.14 (close)

London - FTSE 100: DOWN 1.7 percent at 10,195.37 (close)

Paris - CAC 40: DOWN 1.6 percent at 7,952.55 (close)

Frankfurt - DAX 30: DOWN 2.1 percent at 23,950.57 (close)

Tokyo - Nikkei 225: DOWN 2.0 percent at 61,409.29 (close)

Hong Kong - Hang Seng Index: DOWN 1.6 percent at 25,962.73 (close)

Shanghai - Composite: DOWN 1.0 percent at 4,135.39 (close)

Pound/dollar: DOWN at $1.3316 from $1.3400

Euro/dollar: DOWN at 1.1620 from $1.1673 on Thursday

Dollar/yen: UP at 158.78 yen from 158.33 yen

Euro/pound: UP at 87.25 pence from 87.09 pence

Cunningham's 21 points included five three-pointers, while at the defensive end, Detroit center Jalen Duren delivered a dominant performance that included 11 rebounds, three blocks and a steal. Cunningham was one of six Pistons players to finish in double figures, with Paul Reed adding 17 off the bench, and Duren and Daniss Jenkins scoring 15 points apiece. "We're just playing our brand of basketball, coming out competing, trying to execute our system to the best of our ability, and we're together," Cunningham said afterward.

"We stick together through everything, so it's a great win for us." James Harden led Cleveland's scoring with 23 points while Donovan Mitchell was restricted to 18 points. The Cavs started Friday's game brightly, opening up a six-point lead in the first quarter before the Pistons started firing to take a grip on the contest.

A devastating 22-4 run by Detroit saw the visitors accelerate into a commanding 39-27 lead in the second quarter and although Cleveland closed the gap to 54-51 at halftime, the Pistons regrouped impressively to snuff out the Cavs' threat with a 30-19 third quarter. That left Detroit leading by 14 points heading into the fourth and the result was never in doubt, with the Pistons maintaining a double-digit lead to close out victory.

Vehicle were charged a customs duty of 30 percent but several other taxes make the effective import tax on a car more than 100 percent. Sri Lanka has increased energy prices by more than a third since the start of the Middle East war and has rationed diesel and petrol in a bid to reduce the import bill. Official figures show that Sri Lanka's rupee has depreciated by 4.5 percent against the dollar so far this year.

Central Bank Governor Nandalal Weerasinghe told a parliamentary panel last week that the rupee would continue to slide unless global oil prices fell or Sri Lanka slashed energy imports. Sri Lanka is emerging from its worst economic meltdown in 2022, when it ran out of foreign exchange to finance even the most essential imports such as food, fuel and medicines. Since then, the country has been under a $2.9 billion IMF bailout programme.

The minister said Bangladesh has limited natural resources and therefore electricity, gas, and water must be used efficiently in industrial production.  He stressed the need for energy conservation, water recycling, circular production systems, and improved management practices to ensure optimum utilization of resources, said a press release. Muktadir said although Bangladesh’s RMG industry has achieved remarkable success over the past decades, exports still remain heavily dependent on a limited range of products. 

He warned that the country would face difficulties sustaining its competitive edge globally unless it moves quickly towards higher value-added products such as sportswear, man-made fibre-based apparel, and technical textiles. Referring to the European market and the challenges following Bangladesh’s graduation from the Least Developed Country (LDC) category, he said the country must become more proactive in diversifying products and exploring new export destinations. 

At the same time, greater emphasis should be placed on research, design development, skills enhancement, and the adoption of modern technologies to take the industry to a new height, he added. Highlighting the contribution of the textile sector to the country’s economic development, the minister said the industry has become one of the main driving forces of industrialization and export growth by generating large-scale employment with relatively low investment. 

He noted that the sector still holds immense untapped potential if supported by proper planning and innovation. On the issue of reopening closed industrial units, the minister said the government would not spend money on non-functional factories while keeping outdated machinery unchanged.  Instead, industry-specific solutions would be adopted, including the development of industrial parks, public-private partnership (PPP) initiatives, and lease-based investment models to attract fresh investment.

He said decisions in this regard would be taken in consultation with experienced private sector entrepreneurs. The minister also said promising sectors such as leather, light engineering, and shipbuilding would be revitalized through modern technology, skills development, and international cooperation.

Welcoming the Textile Innovation Exchange initiative, Muktadir said collaboration between industry and academia, along with the exchange of experiences among entrepreneurs, would help make Bangladesh’s textile sector more modern, environmentally friendly, and competitive. The government, he added, would continue to support such initiatives. Among others, Professor Dr Engineer Md Julhas Uddin spoke as guest of honour, while Enamul Haque Khan, Professor Dr Engineer Ayub Nabi Khan, Md Abdul Hamid, and Engineer Md Enayet Hossain addressed the event as special guests.

Engineer Md Shamsuzzaman delivered the welcome speech. Dr Md Hasib Uddin and Tareq Amin also spoke at the programme, while Engineer Ehsanul Karim Kaisar delivered the concluding remarks. Later, the minister inaugurated the Innovation Textile Exchange platform and visited different stalls at the venue. 

“The government had to spend Taka 40,000 crore from budget for fuel purchase and another Taka 50,000 crore for foreign debt payment in the power sector,” he said. “With all together, the country’s economy is not in a good shape. Even though government has decided to provide highest allocation in health sector in upcoming budget to ensure healthcare services for downtrodden people free of cost” Amir Khosru said.

The Finance Minister said this while speaking as chief guest at the foundation laying ceremony of 17th storey academic building of Chattogram Maa O Shishu Medical College Hospital here today. He alleged that most of the allocation in health sector during the fallen regime was misappropriated, and both administrative and academic atmosphere as well as medication education deteriorated due to political interference. The minister said the present government would give highest allocation to health sector and closely monitor whether the allocation is spent properly.

Amir Khosru said primary healthcare is fundamental rights of every citizen, but people are being deprived of such rights for a long time. The present government is working to strengthen the primary healthcare delivery system, preventive and universal healthcare measures, he said.  The minister urged the hospital authorities not to enroll students beyond their capacity and strictly maintain standard teacher-student ratio.

The planning minister said the government has been planning to provide medical services commoners to poor in private hospitals, considering the limitations of the public sector facilities.  The government will pay for the poor patients if they take treatment in any designated private hospitals, he said. The minister put importance on setting up medical technology institute as the country has been facing acute dearth of skilled medical technologist and valuable medical equipment are laying idle or being damaged due to lack of sufficient number of medical technologist. 

Presided over by chairman of the hospital governing body Syed Morshed Hossain, General Secretary Rezaul Karim Azad and hospital Principal Prof. Ashim Barua spoke at the function held at the college premises. Later, the Finance and Planning Minister attended a prize distribution and reception given to brilliant students and freshers at Agrabad Mohila College.

Chairman of the Chattogram Education Board Prof. Abdullah Al Mamun, Chattogram Regional Director of Department of Secondary and Higher Secondary Education Prof. Fazlul Quader Chowdhury addressed, among others, on the occasion while College Governing Body President Advocate Mofizul Haque Bhuiyan was in the chair.

DCCI publishes the EPI to address the lack of adequate information regarding business, trade, investment planning and economic forecasting. Noted Economist and Chairman of Policy Research Institute of Bangladesh (PRI) Dr. Zaidi Sattar,  Professor Mizanur Rahman of Business Studies of Dhaka University, Professor M Niaz Asadullah of Economics department of DU, Additional Secretary of Ministry of Commerce Shibir Bicitro Barua; International Trade Expert Nesar Ahmed, former DG of BIDA Ariful Hoque, DG of International Trade, Investment & Technology Wing of Ministry of Foreign Affairs Dr. Syed Muntasir Mamun, and Senior Private Sector Specialist of IFC Miah Rahmat Ali, took part in the seminar. 

Dr. Zaidi Sattar, though the Index was conducted focusing on Dhaka, its acceptability and effectiveness would increase significantly if it can be expanded nationwide. Such an index would help entrepreneurs to assess the current business climate and take appropriate measures, he said. Nesar Ahmed said the CMSME sector is at risk of being severely affected. He stressed that there is no alternative to reducing the cost of doing business and ensuring supportive business policies to overcome the current situation.

Shibir Bicitro Barua said, Bangladesh’s economy is currently going through a difficult phase and to better understand the actual state of the economy this type of research should be conducted nationwide. He also informed that the Ministry of Commerce has taken steps for necessary reforms to the “Import Policy Order,” which is expected to be finalized within the next few months. Prof. Mizanur Rahman emphasized the necessity of institutional reforms, especially strengthening the capacity of financial sector institutions.

Dr. Syed Muntasir Mamun said, Bangladesh should depend more on capital market for long-term financing instead of relying heavily on the banking sector. Dr. Akhand Mohammad Akhtar Hossain, Chief Economist of Bangladesh Bank said, there is no alternative to FDI for increasing economic growth, an area in which Bangladesh is still lagging behind. Miah Rahmat Ali emphasized that the government must come forward with necessary policy and financial support for entrepreneurs to tackle global economic instability caused by wars and climate change.

In his welcome remarks, DCCI President Taskeen Ahmed stated that Bangladesh’s economy is currently going through a challenging period marked by high inflation, pressure on foreign exchange reserves, sluggish investment, energy uncertainty, rising manufacturing costs and declining employment opportunities, all of which are creating pressure on the macro economy. He mentioned that the “Economic Position Index (EPI)” developed by DCCI is a timely initiative that will help policymakers, entrepreneurs, and researchers take effective decisions based on actual economic conditions.

DCCI Secretary General (Acting) Dr. A.K.M. Asaduzzaman Patwari in the keynote paper said, Dhaka Chamber has undertaken the initiative to develop the “Economic Position Index (EPI)” on a quarterly basis to address the lack of adequate information regarding business, trade, investment planning and economic forecasting. Considering the concentration of industrial activities, he said, the research was conducted in Dhaka using data collected during the first quarter (July-September) and second quarter (October-December) of FY2025-2026. 

He mentioned that the data for this index was collected from 762 respondents, including 330 representatives from the manufacturing sector and 432 from the service sector. During the open floor discussion session, former Senior Vice President of DCCI Alhaj Abdus Salam, former Director M. Bashirullah Bhuiyan among others also spoke. DCCI Senior Vice President Razeev H Chowdhury, Vice President Md. Salem Sulaiman, members of the Board of Directors and representatives from both public and private sector were present.

“Billions of taka was looted” under the patronage of former Prime Minister Sheikh Hasina, he said adding that public money had been misappropriated during the previous administration. He said the present government aims to recover from the situation and rebuild the country’s financial and banking institutions. The event was chaired by former secretary Dr. A.F.M. Matiur Rahman, chairman of the board of directors of Karmasangsthan Bank. Among others, Member of Parliament Abdus Salam Azad, Religious Affairs Secretary Munshi Alauddin Al Azad, Financial Institutions Division Secretary Nazma Mobarek, Karmasangsthan Bank Managing Director Arun Kumar Chowdhury, Deputy Commissioner Syeda Nurmahal Ashrafi and Superintendent of Police Md. Menhajul Alam, were present at the function.

The Principal Secretary said that discussions about banks now bring to mind ‘two contrasting images- one positive and one negative’, and expressed his hope that Karmasangsthan Bank would maintain a positive image. He urged the bank’s officials and employees to work with honesty, dedication and sincerity.

Referring to the 2024 mass uprising, Sattar claimed that the Awami League was responsible because of what he described as “irregularities and fascist behavior,” which, he said, were disliked not only by the public but also by members of the party itself.

He also said that present Prime Minister Tarique Rahman intends to govern the country following the examples of former President Ziaur Rahman and former Prime Minister Khaleda Zia. He called upon the citizens to extend full cooperation to the government, saying such support would help to build the country in a better way.

Sattar further announced that the present government plans to provide four crore family cards under which each recipient family would receive Taka 2,500 per month. He added that farmers would receive farmer cards, while mosque imams and temple purists would receive monthly allowances.

"Whatever the actual percentage may be, if we can work collectively, we will be able to significantly increase the contribution of this sector to GDP," he said, adding that the ICT and telecom sector would remain a thrust sector for the BNP-led government. He said the government's goal is not only to remain among the world's top countries in terms of mobile subscribers but also to bring service quality to the top level globally.

Telecom and Technology Reporters' Network (TRNB) organized the seminar titled "Telecom Future: New Government's Vision" in a city hotel. Rehan Asif Asad said the effective tax rate for mobile operators in Bangladesh currently ranges between 51 percent and 56 percent, while the global average is around 22 percent. He said Bangladesh's tax-to-GDP ratio stands at 6.5 percent according to the World Bank Spring Summit, which is among the lowest in the world, making it difficult to maintain balance despite the telecom sector.

"It is highly difficult for government to reduce taxes in this situation . . . We can't solve all the problems in the next budget, we will make tangible progress and solve those step by step," he said, adding that multiple meetings had already been held regarding budget and tax rates. "We will make those changes what is possible for us," he said, adding, "Our key point, when it comes to tax, better, international competitiveness, we want to be one of the best country in the world, which invite the foreign direct investment."

The adviser said attracting foreign direct investment (FDI) remains one of the government's major priorities, noting that Bangladesh's FDI-to-GDP ratio is 0.34 percent compared to 4.63 percent in Vietnam. He said predictability in VAT, tax, customs duty and related policies for at least five years is essential for business planning in the telecom and IT sectors. On connectivity, the adviser said affordability of devices is the key factor for expansion of 4G and 5G services.

He stressed the importance of mobile manufacturing and said countries including India, Pakistan, Sri Lanka and China are moving towards smartphone manufacturing and operator-based smartphone networks. Rehan Asif Asad said the government's priority regarding spectrum is no longer only revenue generation, but also creating an ecosystem, building a value chain and ensuring overall economic development. He also highlighted the importance of AI, cyber security, data centres, CDN, POP and connectivity infrastructure, saying Bangladesh must have its own data centres and connectivity as a sovereign nation.

The adviser said the government would encourage young innovators and entrepreneurs through startup funds and support mechanisms, while efforts would be made to build a complete startup value chain with support from the ICT ministry and private sector stakeholders. He expressed optimism that Bangladesh could emerge as one of the world's leading manufacturing hubs and said the ICT sector could become one of the world's top sectors alongside the country's goal of becoming a one trillion-dollar economy.

Bangladesh Telecommunication Regulatory Commission (BTRC) Chairman Major General (Retd) Emdad Ul Bari spoke as the main discussant. He said the telecom regulator wants to build a subscriber-centric industry through balanced policies, transparent regulation and a diversified connectivity ecosystem comprising fibre, wireless cellular mobile and satellite services. He said the government has already sought a proposal for preparing a National Connectivity Master Plan involving industry and academia, adding that a committee and roadmap are expected to be formed before Eid, while work may begin after Eid.

BTRC Chairman said the regulator wants to maintain a balance among the three major stakeholders of the telecom sector - subscribers, telecom businesses and the government or regulator. "Even if we equally emphasise all three stakeholders, my starting point would be subscribers," he said, adding that businesses would be supported for ensuring services to subscribers. The BTRC chairman said the regulator wants service delivery to remain technology-agnostic so that subscribers receive all services regardless of delivery systems.

He said the government's vision, followed by clear strategy, policy and implementation plans on connectivity, access, digital services, digital payment systems, data governance and security-based trust building, would be highly useful for regulators. Emdad Ul Bari said the telecom sector's core functions are connectivity and access, while digital services would become the "lifeline" of the digital economy.

Referring to spectrum management, he said BTRC published its first spectrum roadmap in late 2024 for both local operators and international investors. According to the roadmap, 700 MHz spectrum auction was scheduled for 2025, while 3.5 GHz spectrum for 5G has been planned for 2027 and 2028, he added.

He said the 700 MHz auction, held in early 2026, was open to all operators and no participant was barred from joining. On concerns over monopoly and duopoly, he said the new licensing regime does not allow such opportunities, although "natural oligopoly" may emerge in heavy capex-dependent segments of the telecom industry. The BTRC chief also stressed data-driven decision making, transparency and extensive use of regulatory sandbox provisions introduced under the new telecom act.

He urged the media to maintain objective reporting, saying incomplete information could affect policy decisions and harm the industry. Barrister Shahed Alam, Head of Regulatory and Corporate Affairs, Robi presented the keynote paper titled "Shaping the Next Era of Telecom: Bangladesh Perspective." With TRNB President Samir Kumar Day in the chiar, General Secretary Masuduzzaman Robin delivered welcome address.

The meeting was held with a view to collecting opinions and recommendations from stakeholders considering the country’s overall economic situation, global economic uncertainties and the current realities of the domestic market. “The opinions of stakeholders are very important in the policy-making process. The constructive recommendations received at today’s meeting will be reviewed properly and reflected in the monetary policy for the first half of FY2026-27,” the BB Governor added.

The governor also stressed transparency, accountability and expansion of technology-based services in the banking sector. Emphasis was laid on ensuring easy-term financing for small, medium and export-oriented industries at the consultation meeting,organised by Bangladesh Bank, Khulna, on formulation of the monetary policy for the first half of fiscal year 2026-27.

Participants discussed issues relating to inflationary pressure, stability of the foreign exchange market, interest rate management, private sector credit flow, production and investment situation and employment generation in the present economic context.

They observed that a balanced and timely monetary policy is crucial at this moment so that inflation can be controlled while maintaining positive momentum in production, investment and export activities.

Special emphasis was given on ensuring easy financing conditions for small, medium and export-oriented industrial sectors.

Calls were also made for necessary policy support to further strengthen the agriculture, fisheries and rural economy sectors.

Deputy Governor Dr. Md. Habibur Rahman, Executive Director Mahmud Salahuddin Naser of Monetary Policy Department at Bangladesh Bank headquarters, Executive Director Md. Rukunuzzaman of Bangladesh Bank Khulna, officials of Bangladesh Bank, university teachers, regional heads and senior officials of different scheduled banks, businessmen, industrial entrepreneurs, exporters, importers, agricultural entrepreneurs, SME representatives, leaders of Khulna Women Chamber and Khulna Chamber, representatives of civil society and media personnel were present at the meeting.

Focusing on the Khulna region, participants highlighted the prospects and challenges of Mongla port-based commercial activities, shrimp and fisheries exports, jute and jute goods, agro-based industries and other production-oriented sectors.

They said stability in foreign currency supply, simplification of LC opening procedures and improvement in efficiency and transparency in banking services are essential to remain competitive in the international market.
Importance was also attached to strengthening good governance in the banking sector, reducing default loans and ensuring overall stability of the financial sector.

Participants expressed satisfaction over the opportunity to hold open discussions and welcomed such initiatives by Bangladesh Bank.

At the end of the meeting, hope was expressed that the monetary policy formulated on the basis of coordinated cooperation and constructive opinions of all stakeholders would play an important role in maintaining macroeconomic stability, controlling inflation, increasing investment and employment and achieving sustainable development goals. 

The company initially targeted a price range of $115 to $125 per share, before raising it to between $150 and $160, and finally settling at $185. It plans to issue 30 million shares, with an over-allotment option for an additional 4.5 million shares, according to a Cerebras statement released Wednesday evening. Raising $5.55 billion will place Cerebras among the 15 largest initial public offerings ever completed on Wall Street, and the largest since medical equipment group Medline in December.

Cerebras specializes in giant processors, also known as wafer-scale systems. They are viewed as suitable for the development and use of AI models. After three years of sustained growth following the release of OpenAI's ChatGPT, the AI infrastructure market has exploded this year. In January, OpenAI committed to acquiring a massive quantity of Cerebras processors, a contract valued at over $10 billion. As part of this agreement, Cerebras granted OpenAI warrants -- derivative products that can be converted into shares under certain conditions. If all the conditions are met, OpenAI could control more than 10 percent of Cerebras's capital.

Polls show he faces stiff competition from his main rival, senator Flavio Bolsonaro -- son of far-right former president Jair Bolsonaro, who is in jail for an attempted coup attempt. The pro-government camp is thus on the lookout for anything that might help their cause. Brazilian gas stations have seen skyrocketing prices ever since the outbreak of the US-Israel war against Iran on February 28.

But prices have eased slightly in recent weeks, according to authorities. "The situation is still complex," planning and budget minister Bruno Moretti told a press conference in Brasilia. "That requires us to constantly update our strategy for mitigating the impacts of the war on fuel prices and on the population," he said.

The latest measures would have no fiscal impact, according to the minister. Brazil, a net crude exporter according to the International Energy Agency (IEA), is relatively more insulated to exteral petroleum price shocks compared to countries that rely on imports.

While the Dow edged lower, both the S&P 500 and Nasdaq powered to fresh records. The Nasdaq led major US indices, piling on 1.2 percent behind big gains in most tech giants, including Google parent Alphabet and Nvidia. The strong session on Wall Street came on the heels of a benign day in Europe and Asia, where leading bourses also advanced. That came despite a US wholesale inflation report that greatly exceeded expectations, following Tuesday's rise in the consumer price index.

Wholesale prices rose six percent for the 12 months ending in April, according to US Department of Labor data. Month-on-month increases greatly exceeded expectations and were at their highest level since March 2022. The average price of a gallon of diesel in the United States is up around 50 percent since the start of the war, according to the AAA motor club.

"There are also signs that higher energy costs are beginning to bleed through to other goods and services, like transportation costs, which will keep producer price inflation lifted in the coming months," said Grace Zwemmer, US economist at Oxford Economics, in a note. Also Wednesday, the International Energy Agency warned that countries were tapping into oil inventories and strategic reserves at a "record pace," meaning further price volatility was likely. "Rapidly shrinking buffers amid continued disruptions may herald future price spikes ahead," the IEA warned in its monthly report.

Despite these concerns, equity markets advanced for the most part, a sign of hope ahead about the talks in China. Trump landed in Beijing, accompanied by leading CEOs, including Tesla boss Elon Musk and Nvidia chief Jensen Huang. Trump and Xi are set to discuss extending a one-year tariff truce, which the two leaders reached during their last meeting in South Korea in October, although a deal is far from certain.

China's controls on rare earth and agriculture exports are also expected to be on the menu.

- Key figures at around 2015 GMT -

Brent North Sea Crude: DOWN 2.0 percent at $105.63 a barrel

West Texas Intermediate: DOWN 1.1 percent at $101.02 a barrel

New York - DOW: DOWN 0.1 percent at 49,693.20 (close)

New York - S&P 500: UP 0.6 percent at 7,444.25 (close)

New York - Nasdaq Composite: UP 1.2 percent 26,402.34 (close)

London - FTSE 100: UP 0.6 percent at 10,325.35 (close)

Paris - CAC 40: UP 0.4 percent at 8,007.97 (close)

Frankfurt - DAX 30: UP 0.8 percent at 24,136.81 (close)

Tokyo - Nikkei 225: UP 0.8 percent at 63,272.11 (close)

Hong Kong - Hang Seng Index: UP 0.2 percent at 26,388.44 (close)

Shanghai - Composite: UP 0.7 percent at 4,242.57 (close)

Euro/dollar: DOWN at $1.1714 from $1.1739 on Tuesday

Pound/dollar: DOWN at $1.3522 from $1.3539

Dollar/yen: UP at 157.87 from 157.63 yen

Euro/pound: DOWN at 86.59 pence from 86.69 pence 

US President Donald Trump and Chinese counterpart Xi Jinping met in Beijing for a closely watched summit that covered thorny issues including Taiwan, but yielded few concrete outcomes in its opening phase.

The cautious mood came after another tech-led rally on Wall Street, where the Nasdaq and S&P 500 hit record highs, driven by continued enthusiasm for artificial intelligence investment.

Trump praised Xi as a "great leader" and "friend", predicting a "fantastic future together" in talks lasting more than two hours at the Great Hall of the People.

Xi, however, delivered a blunt warning on Taiwan -- which Beijing claims as its territory -- saying missteps could push the two powers into conflict.

Accompanying Trump was a US delegation including Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and high-powered business leaders such as Nvidia's Jensen Huang, Apple's Tim Cook and Tesla's Elon Musk.

"China's doors to the outside world will open wider and wider... American companies will enjoy even brighter prospects in China," Xi told the business executives, according to Chinese state media.

Experts said the presence of top executives underscored the deep economic interdependence between the two nations despite years of tensions and talk of decoupling.

SPI Asset Management's Stephen Innes said in a comment that Beijing used the summit to project "stability, strategic coexistence, and economic interdependence".

"The presence of top US corporate leaders highlighted how deeply connected the American and Chinese economic systems still remain," he added.

He warned the key risks facing markets were increasingly intertwined.

"Rare earths, AI, Taiwan, and the Strait of Hormuz are now interconnected strategic pressure points shaping the next phase of global market risk," Innes said.

The meeting in Beijing took place against the backdrop of conflict in the Middle East, which has disrupted shipping through the Strait of Hormuz and driven energy prices higher.

International benchmark Brent crude hovered just above $105 a barrel on Thursday.

Across Asia, Seoul led gains as the Kospi climbed 1.75 percent, nearing the 8,000 mark. Taipei, Mumbai, Bangkok and Manila also advanced.

Shanghai, Tokyo, Jakarta, Wellington and Singapore slid. Hong Kong was flat.

Following Wall Street's lead, Taiwanese tech giant Foxconn reported a 19-percent jump in quarterly net profit, fuelled by booming demand for AI servers, and forecast strong growth in shipments this year.

But there were signs of strain elsewhere.

Japanese automaker Honda announced a $2.6 billion operating loss, its first since 1957, after a sweeping overhaul of its electric vehicle strategy in the United States, citing heavy charges and policy shifts under the Trump administration.

Honda blamed tariffs and the removal of EV incentives, as well as intensifying competition in China.

London, Paris and Frankfurt opened on the front foot, tracking the positive lead from Wall Street.

The Nasdaq led major US indices Wednesday, piling on 1.2 percent behind big gains in most tech giants, including Nvidia and Google parent Alphabet.

That came despite a US wholesale inflation report that greatly exceeded expectations, following Tuesday's rise in the consumer price index.

Wholesale prices rose six percent for the 12 months ending in April, according to US Department of Labor data.

Month-on-month increases greatly exceeded expectations and were at their highest level since March 2022.

- Key figures at around 0820 GMT -

Brent North Sea Crude: UP 1.20 percent at 106.90 a barrel

West Texas Intermediate: UP 1.20 percent at 102.18 a barrel

Tokyo - Nikkei 225: DOWN 1.0 percent at 62,654.05 (close)

Hong Kong - Hang Seng Index: FLAT at 26,389.04 (close)

Shanghai - Composite: DOWN 1.5 percent at 4,177.92 (close)

London - FTSE 100: FLAT at 10,321.42

Pound/dollar: DOWN at 1.3514 from $1.3522 on Wednesday

Euro/pound: UP at 86.65 from 86.59

Euro/dollar: DOWN at 1.1709 from $1.1714

Dollar/yen: UP at 157.89 from 157.87

New York - DOW: DOWN 0.1 percent at 49,693.20 (close)

New York - S&P 500: UP 0.6 percent at 7,444.25 (close)

New York - Nasdaq Composite: UP 1.2 percent 26,402.34 (close)

abs/fox

NVIDIA (isin = US67066G1040)

Alibaba (isin = KYG017191142)

Tencent (isin = KYG875721634)

S&P Global Ratings (isin = US78409V1044)

INDEX CORP. (isin = JP3153300003)

As part of the programme, the CAG visited the CGA office along with activities being carried out by 50 CAFO offices under different ministries, divisions, departments and agencies, said a press release. Deputy Comptroller and Auditor General (Senior) Md Shariful Islam, Deputy Comptroller and Auditor General (A&R) Saifullah Sobhan were present. During the inspection, the CAG observed various citizen service initiatives, including instant support relating to salary allowances and pension services for pensioners and service recipients, life verification services and related mobile applications, settlement of General Provident Fund (GPF) issues, one-stop service centres, help desks and different automation activities.

He also exchanged views with officials and employees concerned. The CAG gave necessary directives to the CAFOs for speedy disposal of family pension and restored pension cases as well as issues relating to disabled children and their entitlements. Highlighting the government’s commitment to ensuring quick, transparent and quality public services, Md Nurul Islam said the present government is working relentlessly to make the service delivery system easier, more humane, technology-based and accountable with the goal of building a citizen-friendly administration.

He urged all concerned to work with sincerity, dedication and responsibility to ensure quality services for pensioners and all service recipients. Officials of the concerned offices briefed the CAG on the special activities being conducted during the service week. Pensioners and other service recipients also expressed satisfaction over the prompt and cordial services being provided. The special service activities are being conducted nationwide at 17 audit directorates, the CGA office, 50 CAFO offices, offices in eight divisions, 64 districts and 495 upazilas, alongside CGDF, SFC, FC offices at different cantonments, Area FC/FPO offices, ADG Finance Bangladesh Railway, FA&CAO and DFA offices in Dhaka, Chattogram and Rajshahi.

Under the programme, important services including pay fixation, pension settlement, GPF/DSPF/DSOP services, TA/DA bills, commutation bills and Net Entitlement (NE) cases are being delivered with due respect, efficiency and promptness.

Data also showed that expatriate Bangladeshis sent a total of $31,076 million in remittances during the period from July to May 13 of the current fiscal year. In comparison, the inflow was $25,805 million during the corresponding period of the previous fiscal year. The upward trend in remittance earnings is expected to provide support to the country’s foreign exchange reserves and help stabilise the external sector, analysts added.

In his speech, Muktadir urged Chinese investors to make meaningful investments that would create a win-win partnership between the two countries. Highlighting that China is Bangladesh’s largest trading partner, Muktadir emphasized the importance of increasing Chinese Foreign Direct Investment (FDI) to help reduce the bilateral trade gap.  He specifically sought Chinese cooperation in reopening and modernizing closed state-owned mills, revitalizing the jute sector, promoting renewable energy, and advancing green industrialization initiatives.

The minister noted that Bangladesh currently has the world’s highest number of green-certified garment factories, reflecting the growing environmental awareness among local entrepreneurs.  He said the textile and garment sector must ensure efficient use of water, electricity, and fuel to remain globally competitive and environmentally sustainable. Expressing optimism about the exhibition, Muktadir said the joint initiative would create new opportunities for technology exchange, investment expansion, and sustainable industrial development.

Chinese Ambassador to Bangladesh Yao Wen attended the event as special guest. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Shah Rayeed Chowdhury, Bangladesh China Chamber of Commerce and Industry (BCCCI) President Mohammad Khorshed Alam, Bangladesh Garments Buying House Association (BGBA) President Abdul Hamid Pintu, Savor International Limited Managing Director Md. Foyzul Alam, Chinese Enterprises in Bangladesh President Han Kun, and Overseas Chinese Association in Bangladesh Vice President Lisa Lu, among others, were present. 

Following the inaugural ceremony, the minister visited different stalls at the expo. The three-day international exhibition has brought together leading textile and garment companies, investors, and technical experts from Bangladesh and China. The event also features seminars and panel discussions on eco-friendly and recyclable textile technologies. The expo remains open to visitors daily from 10am to 7pm and will conclude on May 16.

Market turnover, however, registered a notable increase, rising 16.5 percent to Taka 9.9 billion from Taka 8.6 billion in the previous session, indicating improved trading activity. On the sectoral front, the General Insurance sector dominated turnover, accounting for 18.6 percent of total transactions, followed by Textile at 14.1 percent and Pharmaceuticals at 11.5 percent. Sector performance remained mixed during the session. Financial Institutions posted the highest gain with a 3.4 percent rise, followed by Ceramic with 1.7 percent and Life Insurance with 1.5 percent gains. On the losing side, the Food sector declined by 1.1 percent, while Information Technology and Jute sectors fell by 0.8 percent and 0.7 percent respectively.

Out of the 397 issues traded on the DSE, 197 advanced, 138 declined, and 61 remained unchanged. Meanwhile, the Chittagong Stock Exchange also ended the session in positive territory, although its key indices showed declines. The Selective Categories’ Index (CSCX) fell by 32.7 points, while the All Share Price Index (CASPI) declined by 44.7 points at the close of trading.

Market turnover, however, registered a notable increase, rising 16.5 percent to Taka 9.9 billion from Taka 8.6 billion in the previous session, indicating improved trading activity. On the sectoral front, the General Insurance sector dominated turnover, accounting for 18.6 percent of total transactions, followed by Textile at 14.1 percent and Pharmaceuticals at 11.5 percent. Sector performance remained mixed during the session. Financial Institutions posted the highest gain with a 3.4 percent rise, followed by Ceramic with 1.7 percent and Life Insurance with 1.5 percent gains. On the losing side, the Food sector declined by 1.1 percent, while Information Technology and Jute sectors fell by 0.8 percent and 0.7 percent respectively.

Out of the 397 issues traded on the DSE, 197 advanced, 138 declined, and 61 remained unchanged. Meanwhile, the Chittagong Stock Exchange also ended the session in positive territory, although its key indices showed declines. The Selective Categories’ Index (CSCX) fell by 32.7 points, while the All Share Price Index (CASPI) declined by 44.7 points at the close of trading.

Against a total face value of Taka 5,900 crore, the auction attracted bids amounting to Taka 72,597.94 crore, reflecting strong confidence in Shariah-compliant government investment instruments. The seven-year Sukuk carries an annual profit or lease rate of 10.40 percent.  Due to the massive oversubscription, Bangladesh Bank allocated the Sukuk certificates among investors on a pro-rata basis.

The auction was conducted through Bangladesh Bank’s dedicated Shariah Securities Module (SSM), an internal digital platform designed to facilitate Islamic securities operations efficiently. To enhance liquidity and encourage institutional participation, the Sukuk has been recognized as an eligible asset for maintaining the Statutory Liquidity Reserve (SLR).  In addition, Shariah-based banks and conventional banks operating Islamic windows or branches will be able to use the Sukuk certificates as collateral under the Islamic Banks Liquidity Facility (IBLF).

The auction drew participation from a broad range of investors, including Islamic banks and financial institutions, conventional banks with Islamic banking operations, insurance companies, mutual funds, provident funds, deposit insurance entities, and individual investors.  The strong participation from retail and category-based investors highlighted the increasing popularity of Islamic financial products among the public.

According to official data, Taka 441.62 crore worth of Sukuk certificates were allocated to 1,011 successful individual and category-based bidders. Secondary market trading of the CIBRR-1 Sukuk is scheduled to begin on May 14, 2026. Funds raised through the Sukuk issuance will be utilized for the construction of important bridges on rural roads across Bangladesh under the CIBRR-1 project. The initiative is expected to strengthen rural connectivity, facilitate trade and transportation, and improve socio-economic conditions in different regions of the country through enhanced infrastructure development.

Muktadir made the remarks while virtually addressing a directive meeting with divisional commissioners, city corporation administrators, and deputy commissioners on overall raw hide management at the Secretariat in the city, said a press release. The minister described raw hides as an important national asset and said proper preservation would strengthen the country’s leather industry, increase export earnings, and improve the financial capacity of orphanages, madrasas, and Lillah boarding institutions. 

He noted that a significant number of hides are wasted every year due to lack of awareness and inadequate preservation practices, adding that the government is determined to prevent such losses this year through coordinated initiatives. Muktadir instructed divisional commissioners to ensure that Khatibs and Imams emphasize the importance of proper hide preservation and correct skinning techniques during Friday sermons in the two weeks leading up to Eid. 

He also directed them to supervise training programmes arranged by deputy commissioners for madrasas, orphanages, and other stakeholders involved in hide collection and preservation. The minister further ordered the formation of special monitoring teams at the field level and instructed deputy commissioners to maintain active supervision after the training activities.  City corporation administrators were also asked to integrate raw hide preservation monitoring with ongoing waste management operations during Eid.

During the meeting, officials informed that the government has already allocated more than Tk 17 crore for the free distribution of salt among madrasas, orphanages, and Lillah boarding institutions across the country to help maintain the quality of raw hides. In addition, around Tk 2.63 crore has been allocated for training programmes, including Tk 50,000 at the upazila level and Tk 75,000 at the district level.

To raise public awareness, the government plans to distribute 300,000 posters and 800,000 leaflets nationwide. Awareness campaigns will also be conducted through television, radio, newspapers, social media platforms, and mobile SMS services. Documentary films demonstrating proper hide management techniques will be aired on television channels beginning three days before Eid.

The meeting was moderated by Md. Abdur Rahim Khan, Secretary (Routine Charge) of the Ministry of Commerce, where divisional commissioners and other officials shared local-level action plans and recommendations. Concluding the session, the commerce minister expressed optimism that through coordinated implementation of the government’s initiatives and collective public participation, the country would be able to preserve this valuable national resource and prevent wastage of sacrificial animal hides this year.

Government officials, aviation leaders, tourism experts, academics, private entrepreneurs and media professionals attended the roundtable chaired by H M Hakim Ali, President of United Tourism Stakeholders Society of Bangladesh. General Secretary of UTSSOB Rezaul Ekram gave welcome address while the session was moderated by Vice President Toufiq Rahman.

Speaking at the event, Mofizur Rahman, Managing Director of Novoair and Secretary General of the Aviation Operators Association of Bangladesh, said Bangladesh remains significantly behind in research-based tourism planning despite possessing enormous natural and cultural potential. “Without credible data, market intelligence and proper research, it is impossible to formulate sustainable tourism policies,” he said, adding that aviation and tourism are deeply interconnected, but both continue to suffer from policy inconsistency and lack of institutional coordination.

He stressed the need for a united voice among tourism stakeholders and urged policymakers to include industry professionals in decision-making process. Deputy Director of the Bangladesh Tourism Board, Borhanuddin said, Despite limited manpower and budget  the Tourism Board continues to work on innovative destination branding by integrating local heritage, indigenous products and rural cultural experiences into tourism development.

He dismissed the perceptions of rivalry between the Tourism Board and Bangladesh Parjatan Corporation, saying both institutions share the same goal of advancing the national tourism industry. Pointing out the extremely limited research on tourism sector, former DU professor and tourism expert Badruzzaman Bhuiyan said universities, researchers and students should be involved in destination planning.

Director of the Tour Operators Association of Bangladesh (TOAB) Taslim Amin Shovon called for stronger public-private coordination, international standard tourism fairs, road shows, digital marketing, simplified visa systems and tourist-friendly infrastructure to promote country’s tourism.

Aviation and Tourism Journalists Forum of Bangladesh (ATJFB) president Tanzim Anwar said Bangladesh has failed to transform many of its tourism assets into globally marketable products due to inadequate research and lack of reliable statistics.

“Destinations like Bali have built million-dollar attractions around simple cultural experiences, while many of Bangladesh’s rural traditions and natural assets remain commercially underutilised,” he said. Speakers also warned that exaggerated or misleading destination branding could damage Bangladesh’s credibility in the international tourism market and called for research-driven, realistic and data-based strategies to make a position of the on the global tourism map.

According to central bank data, total foreign currency purchases by Bangladesh Bank during the current fiscal year 2025–26 stand at $5,883.50 million now. The intervention in the foreign exchange market is part of the central bank’s ongoing measures to manage liquidity and ensure stability in the foreign exchange regime.

The project will be implemented on 412 acres of BEZA-owned land in Sonagazi Upazila of Feni. The initiative aims to establish a bankable and sustainable solar energy model that can be replicated nationwide by utilizing unused government land for renewable energy production. Under the proposed framework, the plant will have a generation capacity of 130-140 MW (AC) with integrated battery storage facilities.

 The Bangladesh Power Development Board (BPDB) will serve as both the contracting authority and the purchaser of the electricity generated by the project.  The procurement process is expected to begin by August 2026. Speaking as the chief guest, Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood said the government intends to spark a revolution in the solar sector similar to the transformation achieved in the garment industry.

He added that an investment-friendly renewable energy policy is expected to be unveiled by June to support private sector participation. State Minister for Power, Energy and Mineral Resources Aninda Islam Amit said expanding solar power generation is essential to reduce Bangladesh’s dependence on imported fuels and strengthen grid stability. The initiative will be developed under the newly approved “Guidelines for Development of Renewable Energy Projects using Land Owned by Government Agencies under PPP Modality, 2026.”

 An MoU between BEZA and BPDB was signed on May 7, 2026, formalizing their respective roles as land owner and contracting authority. The Asian Development Bank (ADB) is providing technical support for the project, including feasibility studies, financial modeling, environmental impact assessments, and legal evaluations. The ADB is also assisting with the international competitive bidding process to ensure transparent tariff determination.

Executive Chairman of BEZA Chowdhury Ashik Mahmud Bin Harun, who chaired the workshop, said the project represents a strategic effort to attract private investment while making productive use of government-owned land. Once operational, the solar plant is expected to provide uninterrupted electricity to industrial zones and significantly reduce carbon emissions within the national power grid, he added.

Under the revised framework, the central bank has deferred the implementation of Section 2A(i)(b) of BRPD Circular No. 01/2022, which had capped the aggregate principal amount of funded exposure to a single borrower or borrower group at 15 percent of a bank’s capital. In place of that restriction, banks will now be permitted to maintain combined funded and non-funded exposure of up to 25 percent of their capital base. This enhanced limit will remain effective until June 30, 2028, enabling banks to extend larger credit facilities to industrial and commercial clients.

In another major relief measure, Bangladesh Bank reduced the conversion factor applied to non-funded exposures — such as Letters of Credit (LCs) and guarantees — from the standard 0.50 to 0.25 for the general industrial sector. The move effectively doubles banks’ capacity to provide trade finance facilities under existing capital constraints and extends benefits that were previously available mainly to the power sector. The central bank has outlined a phased normalization roadmap for the conversion factor over the next four years. The factor will remain at 0.25 until June 30, 2027, before increasing gradually to 0.30 by December 31, 2027, 0.40 by December 31, 2028, and returning to the standard 0.50 on January 1, 2030.

Bangladesh Bank has also revised the large loan portfolio ceiling structure by replacing Section 2B(i) of the 2022 circular with a performance-based mechanism linked to banks’ non-performing loan (NPL) management. Under the new structure, banks with classified loans of 10 percent or less of total outstanding loans will be allowed to maintain large loan portfolios equivalent to up to 50 percent of their total loans and advances.  The allowable ceiling gradually declines as NPL ratios rise, falling to 46 percent for banks with classified loans between 10 and 15 percent, 42 percent for banks between 15 and 20 percent, 38 percent for banks between 20 and 25 percent, 34 percent for banks between 25 and 30 percent, and 30 percent for banks with classified loans exceeding 30 percent.

The revised framework will remain effective until December 31, 2027. However, the central bank has retained an overarching prudential safeguard by stipulating that aggregate large loan exposure must not exceed 600 percent of a bank’s total capital. The policy changes were introduced under the authority granted to Bangladesh Bank through Sections 26(Kha) and 45 of the Bank Company Act, 1991 (as amended). The central bank stated that all other provisions of BRPD Circular No. 01/2022 will remain unchanged unless specifically modified by the latest directive.

Longtime arch-foes Washington and Caracas pressed the reset button on relations after Maduro's January 3 overthrow by US special forces in a raid on Caracas. US President Donald Trump approved Maduro's former deputy Delcy Rodriguez to succeed him on condition that she grant the United States access to Venezuelan oil. The two countries formally restored diplomatic relations in March.

Rodriguez moved immediately after Maduro's fall to end state control over the oil sector to attract foreign investors. The United States, for its part, has eased a series of sanctions on the Venezuelan oil industry and granted licenses to foreign companies to operate in the country. Several US oil companies have signed deals with the Venezuelan state, which has also liberalized its mining code. Venezuela's second-biggest export to the United States is coffee, whereas its chief imports were grain, electrical equipment and animal feed.

The war on Iran, launched on February 28, has engulfed the Middle East in violence, with Tehran's retaliatory action targeting US regional allies and virtually blocking the key Strait of Hormuz. The halt in shipping through the waterway, which normally sees about a fifth of global oil and gas traffic, has seen energy prices skyrocket.

As of Tuesday, the average price of a gallon of regular gasoline in the United States had risen about 51 percent since the start of the war, according to data from the AAA motor club. The US Federal Reserve has a long-term two-percent target for inflation, but policymakers have not achieved that level in more than five years. Inflation hit a recent peak of 9.1 percent in 2022. Asked if Americans' financial situation motivated him to make a peace deal with Iran, Trump offered a robust response.

"Not even a little bit. That only thing that matters when I'm talking about Iran: they can't have a nuclear weapon," he said. "I don't think about Americans' financial situation, I don't think about anybody."

Iran's chief negotiator said Tuesday that Washington must accept Tehran's latest peace plan or face failure.

"The longer they drag their feet, the more American taxpayers will pay for it," Mohammad Bagher Ghalibaf said in a post on X.

Trump, on his way towards Beijing, said he expected a "long talk" with counterpart Xi Jinping about Iran, which relies on China as the top customer for its US-sanctioned oil.

But he also played down disagreements on Iran, saying that Xi has been "relatively good, to be honest with you."

"I don't think we need any help with Iran. We'll win it one way or the other. We'll win it peacefully or otherwise," Trump told reporters as he left the White House.

But the lack of progress means the Strait of Hormuz remained largely closed to tanker traffic. The international benchmark Brent North Sea crude and the main US contract, West Texas Intermediate, both rose more than three percent.

Meanwhile, the latest consumer price index data in the United States confirmed that high energy prices are stoking inflation, with the index recording the largest annual gain in nearly three years in April.

CPI rose 3.8 percent year-on-year, up from March's 3.3 percent figure, the US Bureau of Labor Statistics said.

Analysts see the report as dimming the odds for Federal Reserve interest rate cuts this year.

The inflation report weighed on Wall Street stocks throughout the session, but major indices finished well above session lows. The S&P 500 finished at 7,400.96, down 0.2 percent after earlier losing around one percent.

"The market remains calm," said Mabrouk Chetouane, head of global markets at Natixis, adding that investors believe Washington and Tehran will reach an agreement before too long.

Markets are also optimistic about the upcoming US-China summit, Chetouane said, while noting that any additional tariffs after the meeting would be an unwelcome surprise.

"Stability is essential for the capital markets," he said.

Europe's main stock markets ended the day in the red after losses for some major Asian indices.

In Britain, the yield on the country's 30-year bonds reached 5.814 percent Tuesday, the highest level since 1998.

The rise in yields reflects political uncertainty as Prime Minister Keir Starmer clings to power.

More than 80 of Labour's 403 members of parliament have now called for Starmer to quit immediately or to set out a timetable for his departure.

On Tuesday, more than 100 Labour members of parliament signed a statement backing their leader, highlighting the deep divisions within the beleaguered ruling party.

In South Korea, calls for a social tax on artificial intelligence profits largely dragged down the tech-rich Kospi index by five percent.

South Korea is riding a chip boom driving massive earnings for tech giants Samsung and SK hynix, which had sent the Kospi to record highs in recent weeks.

- Key figures at around 2020 GMT -

Brent North Sea Crude: UP 3.4 percent at $107.77 a barrel

West Texas Intermediate: UP 4.2 percent at $102.18 a barrel

New York - DOW: UP 0.1 percent at 49,760.56 points (close)

New York - S&P 500: DOWN 0.9 percent at 7,400.96 (close)

New York - Nasdaq Composite: DOWN 0.7 percent at 26.088.2 (close)

London - FTSE 100: DOWN less than 0.1 percent at 10,265.32 (close)

Paris - CAC 40: DOWN 1.0 percent at 7,979.92 (close)

Frankfurt - DAX 30: DOWN 1.6 percent at 23,954.92 (close)

Tokyo - Nikkei 225: UP 0.5 percent at 62,742.57 (close)

Hong Kong - Hang Seng Index: DOWN 0.2 percent at 26,347.91 (close)

Shanghai - Composite: DOWN 0.3 percent at 4,214.49 (close)

Euro/dollar: DOWN at $1.1745 from $1.1783 on Monday

Pound/dollar: DOWN at $1.3542 from $1.3610

Dollar/yen: UP at 157.57 from 157.19 yen

Euro/pound: UP at 86.70 pence from 86.58 pence 

The officials are likely to put the finishing touches on any announcements made during Trump's summit with Chinese leader Xi Jinping. Washington and Beijing last year slapped tit-for-tat tariffs on each other's exports, with levies exceeding 100 percent. Trump and Xi agreed on a year-long trade truce at their October meeting in South Korea.

"Economic security is national security," Bessent said as he announced his South Korea trip on social media. Bessent will then travel to Beijing for the Trump-Xi summit, he added. More than a dozen business executives including Nvidia CEO Jensen Huang and Tesla boss Elon Musk are also travelling to China with Trump.

Speaking at the event, DCCI President Taskeen Ahmed said that Bangladesh and Turkiye enjoy longstanding friendly relations, adding that stronger business-to-business engagement can significantly boost bilateral trade and investment in the coming years. He informed that bilateral trade between Bangladesh and Turkiye during FY 2024-25 stood at around USD 1.05 billion, while Turkish investment in Bangladesh has already reached US$74.05 million across different sectors. 

He urged Turkish investors to undertake both joint venture and independent investments in Bangladesh's high-potential sectors, including readymade garments, leather and footwear, jute goods, agro-processed products, pharmaceuticals, ICT services and software, light engineering products, home textiles, and consumer goods. Taskeen Ahmed also emphasized the importance of expanding cooperation in the electronics and electrical equipment sectors, stating that increased Turkish participation would help diversify Bangladesh's industrial base and strengthen technology transfer and industrial capacity.

Burak Basegmezlar said that there is strong demand in Bangladesh for electronic equipment, home appliances, generators, and related products, adding that Turkish investors are keen to explore investment opportunities in these sectors. He informed that a delegation of Turkish entrepreneurs from the electronics and electrical equipment sector is scheduled to visit Bangladesh in November this year for bilateral discussions and B2B meetings with local businesses.

Ambassador Ramis Sen said that there is substantial untapped potential in Bangladesh-Turkiye trade relations and stressed the need for closer private sector cooperation between the two countries.  He also mentioned that DCCI can play an important role in strengthening economic and commercial ties between Bangladeshi and Turkish businesses. DCCI Senior Vice President Razeev H Chowdhury and Vice President Md. Salem Sulaiman, among others, were present at the meeting.

As of December 2025, the company maintained a capital adequacy ratio (CAR) of 30.73 percent, while return on equity (ROE) for 2025 stood at 9.8 percent. Founded in 1996, the company has disbursed home loans of more than Tk 17,600 crore to over 63,000 families over the past 30 years to meet housing needs.

DBH Finance PLC, through its 17 branches across the country, provides conventional home loans, Islamic housing finance and affordable housing loans to customers.  It also mobilises both conventional deposits and mudaraba deposits from retail and corporate clients. The company’s non-performing loan ratio has never exceeded 1 percent to date, which has helped it maintain the highest credit rating, AAA, for 20 consecutive years, said the press release.

The trainers delivered detailed presentations on different aspects of securities laws, particularly focusing on recent amendments and additions to regulations. They also explained legal interpretations for accurate report preparation and highlighted common mistakes frequently found in reporting procedures to help participants gain a clearer understanding of compliance requirements.

Speaking at the programme, CSE Managing Director M. Shaifur Rahman Mazumdar said the capital market is passing through unprecedented global, political and structural challenges, making regulatory and technical adaptation essential for business sustainability. He said there is a misconception that strict legal compliance creates obstacles for businesses, adding that greater compliance actually enhances transparency and helps institutions build stronger confidence among customers and stakeholders for long-term success.

Shaifur Rahman also said the CSE is working on introducing new products, including a Commodity Market, and urged market participants to become familiar with the rules and operational framework of the upcoming segments. Chief Regulatory Officer Mohammad Mahadi Hasan said such training programmes help officials remain updated with frequent regulatory changes and ensure the proper application of securities laws for maintaining a transparent and dynamic capital market.

The programme ended with an interactive question-and-answer session where participants sought clarification on different legal issues. Participants termed the session timely and effective and requested the CSE authorities to arrange similar training programmes regularly. The event was moderated by M. Sadek Ahmed, Head of Training and Awareness at CSE, while senior officials, including Md. Nahidul Islam Khan, DGM and Head of Compliance, Inspection and Enforcement, were also present.

Representatives from several BSIA member companies, including Dynamic Solution Innovators (DSi), PrimeSilicon Technology Limited, Siliconova Limited, Ulkasemi Private Limited, and Neural Semiconductor Ltd., later met with SuperGate, a Korean semiconductor design house, to explore potential collaboration opportunities in semiconductor design services, verification, embedded systems, AI-centric chip design, and engineering support capabilities, said a press release.

The BSIA delegation also held an important bilateral meeting with the Korea Semiconductor Industry Association (KSIA). The discussion focused on three major strategic initiatives: Exploring the formation of a collaborative “15-nation semiconductor alliance” to strengthen global semiconductor resilience, talent mobility, and long-term ecosystem cooperation. The discussions also include expanding collaboration in semiconductor talent development through joint training, research initiatives, academic engagement, and workforce development programs apart from establishing long-term cooperation between KSIA and BSIA for the joint promotion of the Korean and Bangladeshi semiconductor industries and exploring opportunities for global collaboration.
KSIA leadership expressed appreciation for Bangladesh’s emerging semiconductor vision and acknowledged the country’s unique strategic positioning, demographic advantage, growing engineering base, and focused ecosystem-building initiatives. Discussions highlighted the potential for Bangladesh to evolve into the world’s 12th semiconductor hub through disciplined capability development, international partnerships, and long-term policy alignment.

The evening concluded with a major Banquet Reception jointly organised by BSIA and the Embassy of Bangladesh in Seoul. The event brought together semiconductor industry leaders, policymakers, researchers, academia, and corporate representatives from both countries.  The programme included remarks from KSIA leadership, BSIA President M A Jabbar, and Toufiq Islam Shatil, Ambassador of Bangladesh to the Republic of Korea.  

Professor Muhammad Mustafa Hussain of Purdue University delivered a strategic presentation titled “Vision of Bangladesh for Semiconductor Packaging,” highlighting the growing importance of advanced packaging, heterogeneous integration, AI-driven semiconductor infrastructure, and ecosystem-oriented value creation. BSIA member companies also presented their technical capabilities and ongoing engagements across semiconductor design, verification, testing, reliability engineering, memory systems, embedded systems, AI hardware, and advanced engineering services. 

Presentations demonstrated that Bangladeshi companies are already contributing to globally relevant semiconductor workflows and technologies. The event further featured an industry case-study session by Changhyun Kim, Vice President and Head of Packaging & Module at SK hynix, on Korea’s packaging success story and the evolution toward AI-era memory packaging technologies. 

An insight session by McKinsey & Company explored the dynamics of the advanced packaging ecosystem, emphasizing the growing importance of 2.5D and 3D packaging architectures, memory-centric AI infrastructure, and the emergence of advanced packaging as a new “middle-end” of the semiconductor value chain. BSIA noted that the South Korea Roadshow reflects Bangladesh’s broader “Silicon River” vision, which seeks to build a sustainable deep-tech ecosystem through the convergence of talent, industry, policy, global partnerships, and strategic infrastructure development.

As part of the evening remarks, BSIA formally invited Korean industry leaders, researchers, and ecosystem partners to participate in the BEAR Summit 2026 to be held in Dhaka, Bangladesh on July 25-26, 2026.

Data also showed that expatriate Bangladeshis sent a total of $30,938 million in remittances during the period from July to May 12 of the current fiscal year. In comparison, the inflow was $25,671 million during the corresponding period of the previous fiscal year. The upward trend in remittance earnings is expected to provide support to the country's foreign exchange reserves and help stabilise the external sector, analysts added.

According to a BSEC press release, Fortune Shoes had declared a 10 percent cash dividend and 5 percent stock dividend for the fiscal year ended June 30, 2022.  However, the company failed to disburse Tk 3.98 crore out of the total declared cash dividend of Tk 16.25 crore. The company also failed to pay Tk 18.29 lakh in listing fees to the Dhaka Stock Exchange as of July 31, 2023. 

The commission directed the company to clear the unpaid dividend and listing fees within 30 days. BSEC said the penalties were imposed due to violations of securities laws and actions deemed harmful to general investors. As part of the enforcement action, Md. Mizanur Rahman was fined Tk 5 crore, while Roksana Rahman, Md. Amanur Rahman, Robiul Islam and Md. Khosrul Islam were each fined Tk 50 lakh.

In addition, Jamil Ahmed Chowdhury was fined Tk 10 lakh, while Md. Nazmul Hossain and Riaz Uddin Bhuiya were each fined Tk 5 lakh. The penalized officials have been instructed to deposit the fines to the commission within seven days. The commission meeting also approved issuance of a notification regarding capital raising, including rights and bonus shares, for companies where sponsor-directors jointly hold less than 30 percent shares.

Besides, 'A' category banks will now be allowed to maintain dividend accounts within their own banks. The BSEC further announced the "BSEC Capital Market Journalism Excellence Awards & Fellowship 2026" aimed at encouraging analytical and credible reporting on the capital market.  Under the initiative, nine journalists from print, electronic and online media will receive awards and fellowships.

Turnover, however, declined by 22.3 percent to Taka 8.6 billion from the previous session’s Taka 11.0 billion, when a large block transaction involving BRAC Bank PLC boosted overall market activity. Among the major sectors, General Insurance accounted for the highest share of turnover at 17.5 percent, followed by Textile at 12.7 percent and Pharmaceuticals at 12.1 percent. The IT sector posted the highest gain, advancing 2.5 percent, followed by General Insurance with 2.1 percent and Financial Institutions with 1.0 percent gains. In contrast, Mutual Funds and Jute sectors each declined by 2.3 percent, while Life Insurance fell by 0.8 percent.

Out of the 396 issues traded on the DSE, 147 advanced, 184 declined and 65 remained unchanged. Meanwhile, the Chittagong Stock Exchange PLC closed in the red. The Selective Categories’ Index (CSCX) lost 8.8 points, while the All Share Price Index (CASPI) fell by 13.1 points at the close of trading.

The report placed strong emphasis on improving bilateral trade volume, encouraging cross-border investment, and strengthening commercial connectivity between the two countries. It identified sectors including ICT, agriculture, healthcare, tourism, education, and manufacturing as promising areas for deeper economic cooperation. BPCCI leaders said there remains significant untapped trade potential between Bangladesh and the Philippines, which could be unlocked through stronger business-to-business engagement, policy support, and institutional collaboration.

The report also recommended expanding market access, facilitating trade promotion activities, and enhancing private sector partnerships to accelerate economic exchanges. Raquib Md. Fakhrul expressed appreciation to the Embassy of the Philippines in Dhaka and the Embassy of Bangladesh in Manila for supporting the delegation visit, saying BPCCI is committed to creating new trade and investment opportunities for businesses in both countries. Humayun Rashid stressed the need for continuous dialogue between the business communities of the two nations to strengthen commercial relations and diversify bilateral trade cooperation.

Ambassador Nina P. Cainglet welcomed BPCCI’s initiative and reiterated support for continued engagement aimed at boosting economic and trade relations between Bangladesh and the Philippines. The meeting reflected growing momentum in bilateral economic cooperation and highlighted the private sector’s increasing role in advancing trade diplomacy between the two friendly countries.

The directive also outlined separate application methods depending on the type of credit facility. For continuous and demand loans or investments, the penalty will be charged on the total outstanding amount. In the case of term loans or investments, the penalty will apply only to the overdue installment amount, ensuring the charges remain proportionate to the extent of default.

According to the central bank, the revised ceiling is intended to ease financial pressure on borrowers and investors, encourage business expansion, and help sustain productive economic activities during a challenging global economic environment. Bangladesh Bank also clarified that all other instructions contained in the earlier BRPD Circular No. 10 will remain unchanged and effective, while actions already taken under the previous guidelines will continue to be considered valid.

Growth in eleven island nations monitored by the World Bank has slowed to 3.2 percent in 2024-25, down from 6.5 percent in 2023, it said. It now expected economic growth to fall to below three percent in 2026. "Turbulence has become the new normal, with shocks transmitting rapidly to small island economies acutely exposed to forces far beyond their control," the report said. "Growth this decade is expected to remain below the pace of the 2010s, insufficient to return incomes to their pre-pandemic trajectory."

The slowdown was led by Fiji as tourism fell, while the Solomon Islands saw its logging industry decline. Workers in Australia and New Zealand sending money home had become an essential income source for Pacific households. However island states needed to create local jobs and build essential services such as water, energy, transport and digital connectivity to increase resilience from repeated natural disasters and "external turbulence", the bank said.

Only around half of working age adults are employed, and nearly 20 percent of youth are not in education, employment, or training, it said. Improving water services, for example, would create jobs, support tourism and improve health, the report recommended. Despite high rainfall access to fresh water varies widely. On steep volcanic islands, about 70-80 percent of rainfall is rapidly lost to runoff, limiting dry-season reliability. Disasters also frequently disrupt water supply. Poor sanitation is a cause of absenteeism from work, and stunted growth among children, the World Bank said.

Following a soft start, Wall Street's three main indices finished a meandering session modestly higher as traders continued to shrug off the war.

"Basically the market has decided that geopolitics are just background noise right now," said Steve Sosnick of Interactive Brokers, who characterized the market as "very momentum-driven right now."

In Europe, London and Frankfurt rose while Paris fell, pulled down by luxury shares following an analyst report that warned of weak growth opportunities for the sector.

The stalemate between the United States and Iran dashed investors' hopes of an imminent peace deal and heightened concerns over further violence and disruptions to oil supplies through the Strait of Hormuz.

Trump described Tehran's response to the latest US outline for peace talks as "TOTALLY UNACCEPTABLE" in a social media post.

Iran said it had demanded the release of its frozen assets and the end of a US blockade of its ports.

Oil prices spiked more than four percent following the exchange, before easing.

Brent oil futures finished up almost three percent at $104.21 a barrel.

"The price of oil remains highly reactive to news around the reopening of the Strait of Hormuz, both positive and negative," said Kathleen Brooks, research director at trading group XTB.

But Briefing.com analyst Patrick O'Hare said traders see Trump as unlikely to aggravate the oil supply situation ahead of his summit meeting with his Chinese counterpart Xi Jinping this week.

Beijing has said it is ready to work with Washington in pursuit of "more stability" as the two countries remain at odds over key issues including trade tariffs, the Middle East war and Taiwan.

In Asia, Tokyo stocks fell, Hong Kong was little changed and Shanghai jumped more than one percent, while Seoul climbed around four percent, supported by a rally in tech stocks.

A tech-led surge driven by strong quarterly earnings and optimism about artificial intelligence has pushed several markets to record highs despite the Mideast crisis.

In Tokyo, Nintendo shares plunged almost 10 percent after the Japanese gaming giant warned Friday of lower profits this year and said it would raise the price of its Switch 2 console.

- Key figures at around 2010 GMT -

Brent North Sea Crude: UP 2.9 percent at $104.21 a barrel

West Texas Intermediate: UP 2.8 percent at $98.07 a barrel

New York - DOW: UP 0.2 percent at 49,704.47 (close)

New York - S&P 500: UP 0.2 percent at 7,412.83 (close)

New York - Nasdaq Composite: UP 0.1 percent at 26,274.13 (close)

London - FTSE 100: UP 0.4 percent at 10,269.43 (close)

Paris - CAC 40: DOWN 0.7 percent at 8,056.38 (close)

Frankfurt - DAX 30: UP 0.1 percent at 24,350.28 (close)

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US federal taxes on gasoline amount to 18.4 cents per gallon on gasoline and 24.4 cents per gallon for diesel, according to the US Energy Information Administration (EIA). Suspending the tax would require an act of Congress, where Trump's Republican party holds a razor-thin majority in both houses. Trump ally Senator Josh Hawley said he would introduce legislation to do so on Monday. In the House, Republican Anna Paulina Luna made a similar pledge to introduce a bill "this week." US fuel prices have skyrocketed since Trump launched the war on Iran, with gasoline and diesel both up about 50 percent since late February.

Iran's retaliatory action has included virtually closing the key Strait of Hormuz, through which about a fifth of the world's oil and natural gas passes. On Monday, the average price of a gallon of regular gasoline in the United States was $4.52, with diesel at $5.64, according to the AAA motor club. Suspending the federal fuel tax would bring those prices down by about four percent. State taxes on fuel, which average 32.61 cents per gallon for gasoline and 34.76 cents for diesel according to the EIA, would be unaffected by the move.

Managing Director of DSE Nuzhat Anwar and Managing Director & CEO of BRAC Bank Tareq Refayet Ullah signed the agreement on behalf of their respective organizations. Senior officials from both institutions, along with representatives of the lead arranger and trustee, were also present at the ceremony. The bond was arranged by BRAC EPL Investment Ltd. while UCB Investment Ltd. acted as trustee for the issue.

With the inclusion of the BRAC Bank Second Subordinated Bond, the total number of bonds listed on the DSE Alternative Trading Board has risen to eight, while the platform currently hosts one equity listing. The listing is expected to contribute to the expansion and diversification of the ATB market by enhancing participation in specialized trading instruments and strengthening the country's capital market structure.

Data also showed that expatriate Bangladeshis sent a total of $30,775 million in remittances during the period from July to May 11 of the current fiscal year. In comparison, the inflow was $25,459 million during the corresponding period of the previous fiscal year. The upward trend in remittance earnings is expected to provide support to the country’s foreign exchange reserves and help stabilise the external sector, analysts added.

Market analysts said investors showed renewed buying interest in fundamentally strong stocks at attractive price levels, helping restore some momentum to the market. The market opened on a strong note and maintained steady upward momentum throughout the trading session, with most traded issues posting gains and pushing the indices into positive territory by the close. Turnover on the prime bourse surged significantly, crossing TK 10 billion mark. Total turnover rose by 54.1 percent to TK 11.0 billion, compared to TK 7.1 billion in the previous session, mainly supported by a block market transaction of TK 3.4 billion in shares of BRAC Bank PLC.

Sector-wise, the banking sector dominated turnover, accounting for 36.0 percent of the total market turnover, followed by engineering at 11.0 percent and pharmaceuticals at 9.7 percent. Most sectors showed mixed performance during the session. The jute sector posted the highest gain with a 2.5 percent rise, followed by services with 1.6 percent and information technology with 1.2 percent gains. On the other hand, mutual funds suffered the highest correction, declining by 2.2 percent, while paper and printing lost 1.0 percent and tannery shares shed 0.9 percent.

Out of the 396 issues traded on the DSE, 185 advanced, 135 declined and 76 remained unchanged. Meanwhile, the Chittagong Stock Exchange (CSE) also ended higher. The Selective Categories’ Index (CSCX) gained 25.3 points, while the All Share Price Index (CASPI) rose by 41.1 points at the close of trading.

The central bank said various embassies and visa centres have been experiencing difficulties in instantly verifying financial documents due to the absence of a streamlined digital verification system.  To address the issue, the new directive seeks to reduce the time and administrative costs associated with visa processing and establish an infrastructure enabling immediate online verification of submitted financial documents.

Under the new framework, banks must ensure that scanning the QR code on the specified documents provides secure and instant access to five key data points: account number, account name, report date opening balance, report date closing balance, and statement generation date. The directive further stated that the information embedded in the QR-based verification system must remain digitally accessible for at least six months from the date of issuance of the document.

Bangladesh Bank instructed all scheduled banks to complete the required technical preparations and system upgrades within 90 days from May 12, 2026. During the implementation and operation of the verification systems, banks have also been directed to strictly comply with prevailing cyber security standards and data protection regulations to safeguard customer financial information. The instruction was issued under Section 45 of the Bank Company Act, 1991, and took immediate effect. 

The minister made the remarks while presiding over the 62nd board meeting of the institute held at the ministry’s conference room in the city, said a press release. Highlighting the growing complexity of global commerce, Muktadir said a permanent expert panel would be formed under the BFTI comprising experienced trade specialists, legal experts and researchers from both the public and private sectors.

The panel will provide support in areas including World Trade Organization (WTO) dispute settlement mechanisms, trade policy analysis and negotiations relating to bilateral and multilateral trade agreements, he added. “We want to develop BFTI as a permanent and effective resource base,” the minister said, adding that the institute’s expert support would play an important role in safeguarding national interests during international trade negotiations.

As part of broader institutional reforms, the board approved a recommendation for appointing a qualified Chief Executive Officer (CEO) to ensure dynamic leadership of the organisation. The meeting also decided to introduce post-graduate diploma programmes in international trade, trade law and trade policy research under the BFTI, subject to approval from the University Grants Commission (UGC).  The programmes are aimed at developing skilled professionals in specialised trade-related disciplines.

The board further stressed the need to expand the institute’s research activities, strengthen training capabilities and establish collaborative research networks at both national and international levels.

Among others, the meeting was attended by Md. Abdur Rahim Khan, secretary (routine duty) of the Ministry of Commerce; Md Shahriar Kader Siddiky, secretary of the Economic Relations Division (ERD); Md. Obaidur Rahman, secretary of the Ministry of Industries; Md. Nazrul Islam, rector of the Foreign Service Academy; Mohammad Hassan Arif, vice chairman of the Export Promotion Bureau (EPB); Md. Abdul Gafur, Chairman of the Bangladesh Trade and Tariff Commission; Mahbubur Rahman, President of ICC Bangladesh; Mahmud Hasan Khan Babu, President of BGMEA; Taskin Ahmed, President of the Dhaka Chamber of Commerce and Industry (DCCI); Kamran T Rahman, President of the Metropolitan Chamber of Commerce and Industry (MCCI); and Dr. Saif Uddin Ahmed, CEO of BFTI.

The fund has been designed to support startups across three major growth stages — seed, late-seed and Series A. The seed-stage financing will focus on product development and market research, while late-seed investments will help startups refine business models ahead of larger fundraising rounds. Series A financing will target businesses seeking to scale operations after establishing proven concepts. Addressing the programme, Finance Minister Amir Khosru Mahmud Chowdhury acknowledged that the country’s financial sector is passing through a difficult period.

“Everyone knows what happened in the banking sector and stock market in the past. We are working to overcome those challenges,” he said. Md Mostaqur Rahman said that the next phase of the country’s financial sector development would require institutions capable of supporting innovation while ensuring transparency, accountability and discipline. He also stressed the importance of ensuring that marginalised communities benefit from the new investment initiatives.

“If marginalised communities remain outside this process, a large segment will remain deprived,” he said. BSIC Chairman Mashrur Arefin said the initiative aimed to connect local entrepreneurial potential with international venture capital standards. “We are creating a bridge between local confidence and global venture standards,” he said. Arefin, who is also the Managing Director of The City Bank, said the initiative would help Bangladeshi startups strengthen governance, improve access to financing and attract credible foreign investment partnerships.

Among the key decisions, the committee recommended approval of a proposal from the Health Services Division for procuring 10,69,80,000 units of Anti-TB Drug (2FDC) under Package No. GR-2558(R) through the open tender method. The procurement cost has been fixed at Tk 74.35 crore, while M/S Renata PLC of Mirpur, Dhaka, emerged as the recommended bidder for supplying the medicines. Officials said the procurement is aimed at ensuring uninterrupted supply of anti-tuberculosis medicines across the country under the national TB control programme.

The committee also approved a major edible oil procurement proposal submitted by the Ministry of Commerce for purchasing 2 crore litres of refined palm olein oil in 2-litre PET bottles through the local open tender (national) method. The total procurement cost has been estimated at Tk 368.90 crore. Under the proposal, Sonargaon Seeds Crushing Mills Ltd. will supply 1 crore litres of palm olein, while Shabnam Vegetable Oil Industries Limited will provide another 1 crore litres.

The edible oil is expected to help stabilise prices and ensure supply in the domestic market. In another decision, the committee approved a proposal under the “Customs Modernisation and Infrastructure Development” project for construction of residential buildings of Customs House, Chattogram under Package No. WD-01. The proposal was submitted by the Internal Resources Division.

The construction work will be implemented at a cost of Tk 102.41 crore by M Jamal & Company Limited of Dhaka. The project is intended to strengthen accommodation and infrastructure facilities for customs officials as part of broader customs modernisation initiatives. The committee also approved a procurement proposal under the revised project titled “Construction of 34 Buffer Godowns at Different Places of the Country for Fertiliser Preservation and Distribution Facilities.” The proposal, submitted by the Industries Ministry, involves construction of a warehouse at Rangpur with a storage capacity of 20,000 metric tons under Package-5, Lot-5.

The work will be carried out by SS Rahman International Ltd. at a cost of Tk 59.20 crore. Officials concerned said the warehouse project would help improve fertiliser storage and distribution management across the country, ensuring timely supply to farmers. 

The Minister made the remarks during a call-on meeting with a delegation from Business Initiative Leading Development (BUILD) held in the capital,  said a press release. Regarding the expansion of bonded warehouse facilities, the minister said any sector with a viable proposal would be encouraged to come forward. He also expressed the government’s interest in working with BUILD for the development of the jute sector, noting that jute pulp produced from green jute could emerge as a promising option.

The Commerce Minister further informed that plans are underway to unify investment-related authorities, including Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zones Authority (BEZA), and Bangladesh Export Processing Zones Authority (BEPZA), under a single umbrella entity to streamline the country’s investment ecosystem. He added that concerns regarding private sector representation in Public-Private Partnership (PPP) initiatives have also been noted for further review.

Speaking at the meeting, BUILD Chairperson Abul Kasem Khan said deregulation remains the most effective tool for controlling the grey economy and bringing more businesses into the formal sector. He observed that the current trade license system remains a major obstacle for new entrepreneurs and stressed the need for introducing a “One License” system to foster innovation and entrepreneurship. To encourage youth-led ventures, he proposed a five-year tax exemption for young entrepreneurs.

Khan also said BUILD is in active discussions with the Prime Minister’s Office regarding critical logistics reforms and plans to present its proposals to the Prime Minister shortly. He added that BUILD intends to organise a “Policy Summit” later this year to outline the private sector’s priorities for the next decade in support of achieving a trillion-dollar economy. BUILD Trustee and Metropolitan Chamber of Commerce and Industry President Kamran T. Rahman said the jute sector remains a pillar of the national economy but requires urgent modernization.

He stressed the need for  integrating  modern technology into the jute industry to improve efficiency and value addition, ensuring long-term profitability and sustainability. BUILD Chief Executive Officer Ferdaus Ara Begum highlighted the importance of product traceability, saying it has become mandatory for maintaining access to global supply chains, particularly in the European Union market. She said a robust National Traceability Strategy is essential to ensure transparency and compliance with evolving international sustainability standards, which directly affect the competitiveness of Bangladesh’s exports.

Ferdaus Ara Begum also suggested leveraging Geographical Indication (GI) products to promote the “One Village, One Product” initiative. She noted that manufacturing industries currently require up to 23 different licenses to operate and urged the government to reduce the regulatory burden to maintain the country’s competitive industrial edge.

The group, majority-owned by the state, said in a statement published on the Saudi stock exchange website that "total revenue for the first quarter of 2026 was 433.10 billion Saudi riyals ($115.49 billion), compared to 405.65 billion riyals ($108.17 billion) for the same quarter in 2025".

"The increase in revenue was mainly due to higher prices and volumes sold of refined and chemical products as well as higher crude oil volumes sold and higher crude oil prices," it said.

The April PMI reading increased by 1.1 points from the previous month, signalling faster expansion in overall business activity.  The manufacturing sector returned to growth after contracting in March, while agriculture sustained strong momentum.  The services sector continued to expand, though at a slower pace, whereas the construction sector experienced a sharper contraction.

The agriculture sector recorded its eighth consecutive month of expansion, supported by faster growth in business activity, input costs and order backlogs. New business and employment also returned to positive territory during the month. Manufacturing rebounded into expansion on the back of stronger factory output, increased input purchases and higher input prices. 

New orders, export orders and employment also returned to growth. However, finished goods inventories and imports remained in contraction, though at a slower pace than before, while supplier deliveries and order backlogs slipped back into contraction. Construction activity contracted for the third straight month, with the pace of decline accelerating further in April.

New business, construction activity and employment all remained weak, although input costs and order backlogs continued to expand at a slower rate. The services sector marked its nineteenth consecutive month of expansion, supported by growth in business activity, employment and input costs. However, both new business and order backlogs reverted to contraction during the month.

The report said future business expectations remained positive across agriculture, manufacturing, construction and services, indicating sustained optimism among businesses despite ongoing economic pressures. Despite several challenges, many businesses expressed cautious optimism that production and overall business conditions would improve in the coming months if the energy situation stabilises and broader economic conditions improve.

Commenting on the findings, the report noted that although the Middle East conflict has contributed to higher oil prices, supply chain disruptions and inflationary pressures, strong future business indicators across all sectors suggest that short-term business confidence in Bangladesh remains stable and cautiously optimistic.

The program commenced with the opening remarks from Uttam Kumar Dey, Chairman of the Members’ Placement Sub-Committee.  In his address, Dey stated that the series has been carefully designed to bridge the gap between academic excellence and professional success, enabling members to remain competitive in the dynamic job market, said a press release today.

M. Zulfiquar Hussain, CEO & Lead Consultant of Grow n Excel, conducted the first session and provided participants with practical insights on job market overview, employer expectations, CV writing, interview preparedness, and job-search strategies. Md. Rakibul Hasan Mahmud, CEO of Professional Business Solutions Bangladesh, facilitated the second session, which focused on career development and skill enhancement techniques. 

The event concluded with an address by the President of ICSB, Hossain Sadat, who emphasized the Institute's commitment to member development and highlighted the importance of equipping Chartered Secretaries with modern skills and a strategic mindset to lead in today's evolving corporate environment. This was followed by the formal distribution of participation certificates among the attendees.  In the closing remarks, Muhammad Rony Islam, Co-Chairman of the Members’ Placement Sub Committee, expressed gratitude to the facilitators and participants, reinforcing the Institute's commitment to the professional development of its members.

Maria Howlader, JBCCI Secretary General, said that the chamber proposed reducing the corporate tax rate from 25 percent to 20 percent in order to align Bangladesh with competing regional economies. As an alternative, she suggested implementing a gradual one percentage point reduction annually over the next five years to balance fiscal requirements while signaling a more business-friendly investment climate. She also recommended major reforms in the Value Added Tax (VAT) system, including reducing the standard VAT rate from 15 percent to 7.5 percent and introducing a unified structure to simplify compliance procedures for businesses.

She further called for the withdrawal of the minimum tax imposed on gross receipts for loss-making enterprises, arguing that such measures place additional pressure on struggling businesses and hinder sustainability. In addition, she urged the government to lower customs duties on industrial raw materials, renewable energy equipment and manufacturing inputs to enhance export competitiveness and industrial productivity. 

She also proposed introducing an automated and time-bound refund mechanism for VAT and income tax payments to reduce delays and release blocked working capital for businesses. Highlighting strategic growth sectors, JBCCI also identified, agro-processing, textiles and automobiles as industries capable of transforming the country’s economic landscape. Regarding the automobile sector, JBCCI Founding President Matiur Rahman noted that the domestic market is expected to surpass five lakh units annually by 2030. 

He recommended gradually reducing the dominance of used vehicles in the market in order to encourage local automobile assembly and attract foreign investment in the sector. In the textile industry, the chamber emphasized the need to shift toward high-end technical textiles and man-made fiber production to enable Bangladesh to move further up the global value chain. 

It also underscored the significant potential of the agro-processing sector, noting that the global halal food market exceeds $2 trillion and remains largely underutilized by Bangladesh. The chamber also stressed the importance of logistics and administrative reforms, observing that logistics costs in Bangladesh currently account for 12 to 15 percent of GDP, significantly higher than the 8 to 10 percent seen in competing economies. To address this gap, it called for greater automation at Chattogram Port to reduce vessel turnaround times and container dwell periods.

JBCCI further recommended repealing the “Bangladesh Flag Vessels (Protection) Act 2019” to improve maritime competitiveness and called for stronger coordination among the country’s 47 ministries to eliminate contradictory policies and reduce bureaucratic delays affecting trade and investment. The chamber leaders also expressed support for the newly elected government under Tarique Rahman, praising what they described as an agenda of transformative reform. To ensure continuity in policy implementation and trade facilitation, they proposed establishing a quarterly dialogue mechanism between the government and business stakeholders.

Among others, JBCCI President Tareq Rafi Bhuiyan, JBCCI Vice President Md Anwar Shahid also spoke on the occasion. 

The agreement will remain effective from May 2026 to February 2028 and establishes a broad framework for technical cooperation focused on green industrial transformation. The agreement was signed by BGMEA President Mahmud Hasan Khan and Gundolf Klaehn on behalf of GIZ Cluster Coordinator Thomas Rolf. Senior representatives from both organizations attended the ceremony, including BGMEA Vice President Vidya Amrit Khan, Vice President Mohammed Rafiq Chowdhury, Director Shah Rayid Chowdhury, Director Sheikh Hossen Mohammad Mustafiz, Director Enamul Aziz Chowdhury, alongside GIZ Bangladesh officials including Michael Klode and Md. Tanveer Masud.

Under the partnership, BGMEA and GIZ will jointly implement a range of technical initiatives in coordination with the Ministry of Commerce, the Export Promotion Bureau (EPB), and the Department of Environment (DoE). The cooperation is designed to align industrial growth with international sustainability benchmarks and climate commitments. A major focus of the collaboration is the energy transition of the apparel sector. Initiatives including Energy Efficiency for Development (EE4DEV), Technical and Vocational Education and Training for Renewable Energy (TVET4RE), and the Project Development Programme (PDP) will support renewable energy adoption and energy efficiency improvements in garment factories. 

These projects will be complemented by the Skills for Sustainable Employment (SKILLs4SE) programme, aimed at upgrading workforce capabilities to meet emerging industrial demands. The MoU also prioritizes circular economy practices, compliance, and worker welfare through projects such as Sustainability in the Textile and Leather Industries (STILE II), Skills for self-Monitoring and Compliance with Clean and Fair Production in the Textile Industry (SCAIP), Social Protection for Workers in the Textile and Leather Sector (SOSI), and the CIRCLE initiative. 

These programmes are expected to strengthen environmental accountability, improve social protection mechanisms, and enhance textile waste management systems. The agreement outlines several strategic areas of cooperation, including preparation for evolving European Union market requirements related to supply chain due diligence, traceability, and decarbonization. 

The Responsible Business Helpdesk (RBH) will also receive institutional support to improve compliance readiness among manufacturers. Additional areas of collaboration include advanced environmental and chemical management, regular energy audits, technical workforce training, digitalization of worker protection systems, transparent textile waste marketplaces, and greater adoption of international technologies for sustainable manufacturing.

Gender inclusion has also been identified as a key pillar of the partnership. Both organizations will work to strengthen the “Shakti Kanya” network to increase women’s participation in engineering, technical, and leadership positions within the apparel industry. To ensure effective implementation and accountability, BGMEA Vice President Vidya Amrit Khan has been appointed as the focal point for German technical cooperation. GIZ will coordinate directly with BGMEA’s specialized working groups on circularity, decarbonization, energy efficiency, data systems, and responsible business practices.

Speaking at the event, BGMEA President Mahmud Hasan Khan described the partnership as a major step toward strengthening Bangladesh’s reputation as a sustainable manufacturing destination. “This partnership will serve as a milestone in establishing the Bangladesh garment industry as a responsible and eco-friendly global hub,” he said.

GIZ reaffirmed its commitment to providing sustained technical assistance to support the green transformation of Bangladesh’s apparel sector.  Industry stakeholders believe the collaboration will further strengthen the country’s position as a reliable sourcing destination for international brands by enhancing compliance with global environmental and ethical standards.

Commerce Minister Khandakar Abdul Muktadir is scheduled to officially inaugurate the sales programme in the Agargaon area of the capital on May 11, 2026. According to an official order signed by TCB Deputy Director (Commercial) Md. Shahadat Hossain, the special sale will continue until May 21, excluding Fridays.

The programme has been designed to reach a broad segment of the population, with each of the 720 trucks expected to serve around 400 consumers daily. Over the 10-day campaign, an estimated 28.80 lakh people are expected to benefit from the subsidized sales. Unlike the regular TCB cardholder programme, the special truck sale will remain open to all consumers, allowing anyone to purchase products without requiring a TCB permanent card.

A total of 13,939 metric tons of essential commodities will be distributed under the emergency measure. Consumers will be able to buy edible oil at Tk 130 per litre with a maximum purchase limit of two litres, sugar at Tk 80 per kilogram with a limit of one kilogram, and lentils at Tk 70 per kilogram with a limit of two kilograms per person. To ensure nationwide coverage, TCB has adopted a strategic deployment plan for the 720 trucks. Fifty trucks will operate in Dhaka Metropolitan and Dhaka district, while 20 trucks will serve Chattogram Metropolitan and Chattogram district. 

Other divisional cities and their respective districts will receive 15 trucks per division across six divisions, while the remaining 56 districts will each receive 10 trucks. Officials said the Eid-season truck sale is intended as a supplementary initiative alongside TCB’s ongoing permanent card holder programme for low-income families. In May 2026, around 72 lakh cardholder families are expected to receive 34,848 metric tons of subsidized products under the regular programme. Authorities confirmed that the prices and quantities of edible oil, sugar, and lentils under the permanent distribution system will remain unchanged.

The steady rise in inward remittances reflects continued resilience in external earnings and stronger inflows through formal banking channels, officials said. Data also showed that expatriate Bangladeshis sent a total of $30,362 million in remittances during the period from July to May 9 of the current fiscal year. In comparison, the inflow was $25,401 million during the corresponding period of the previous fiscal year.

The upward trend in remittance earnings is expected to provide support to the country’s foreign exchange reserves and help stabilise the external sector, analysts added.

According to the circular, the verification booths must remain operational continuously from the opening of the cattle markets until the night before Eid-ul-Azha. Banks have been strictly instructed to provide note verification and cash-counting services free of charge to traders and buyers. The central bank directed banks to equip the booths with modern note-counting and counterfeit detection machines while ensuring that experienced cash officers capable of identifying forged notes are stationed at every booth. 

Each booth must prominently display banners identifying it as a “Fake Note Verification Booth” to ensure visibility and public awareness. To ensure effective implementation, Bangladesh Bank instructed every scheduled bank to appoint a Deputy General Manager-level official as coordinator for the operation. In districts where the central bank does not maintain branches, Sonali Bank PLC has been assigned to lead the initiative through its chest branches in coordination with other scheduled banks.

The circular further instructed banks to provide appropriate allowances and financial benefits to employees assigned to the verification booths in recognition of the additional responsibilities during the Eid period. Banks have also been directed to maintain close coordination with City Corporations, Municipalities, and Upazila administrations, while ensuring security support through cooperation with law enforcement agencies including the Police, Rapid Action Battalion, Border Guard Bangladesh, and Ansar.

The central bank reiterated that officials must strictly follow existing counterfeit note management policies when forged currency is detected. Under the prescribed protocol, suspected counterfeit notes must be immediately seized and the presenter’s full identity, including local and permanent addresses, must be recorded. 

Officials are also required to collect a statement regarding the source of the note and obtain the presenter’s signature or thumb impression on the reverse side of the impounded currency. 

The seized note must then be marked “Forged” or “Fake” in red ink. If bank officials suspect that the note was knowingly presented in bad faith, the matter must be referred to the police for further investigation. As part of a broader public awareness campaign, all bank branches have been instructed to display videos demonstrating the security features of genuine banknotes on branch monitors throughout banking hours ahead of Eid-ul-Azha. 

Banks will also be required to submit detailed reports on the activities and outcomes of the verification booths to the Department of Currency Management within 30 working days after the completion of Eid operations. Bangladesh Bank has also assigned specific banks to manage verification booths at major cattle markets in the capital. 

At Gabtoli Permanent Cattle Market, responsibilities have been assigned to Islami Bank Bangladesh PLC and Simanto Bank PLC, while Sarulia Bazar will be managed by the Premier Bank PLC and Uttara Bank PLC. Verification operations at Uttara Diabari Sector 16 and 18 areas will be conducted by BRAC Bank PLC and Bangladesh Commerce Bank. 

United Commercial Bank PLC has been assigned to the Merul Badda Kachabazar area, while IFIC Bank PLC and Meghna Bank PLC will oversee operations near the Dhaka Polytechnic Institute area. Jamuna Bank PLC has been assigned to the Shyampur Kadamtali Truck Stand area, while Mercantile Bank PLC will operate at the Golapbagh Math Outfall Staff Quarter area. The central bank’s initiative reflects a broader effort to protect cattle traders, farmers, and consumers from financial fraud during one of the country’s busiest seasonal trading periods. 

By ensuring accessible verification services and strengthening coordination among banks, local administrations, and law enforcement agencies, Bangladesh Bank aims to enhance confidence and transparency in the Eid-ul-Azha livestock market economy.

Trump imposed the temporary 10-percent duty in February, shortly after the Supreme Court struck down many of his global tariffs. The new tariff was meant to deal with balance of payments deficits, citing Section 122 of the Trade Act of 1974. It lasts only until late-July, unless extended by Congress, but the Trump administration has in the meantime been pursuing more lasting means to rebuild his trade agenda. To do so, US officials have opened new investigations into dozens of trading partners over forced labor and overcapacity concerns -- which could lead to fresh tariffs or other action.

The Court of International Trade ruling on Thursday ordered defendants to implement the decision within five days, and for the importers who sued in this case to receive refunds. The Trump administration could appeal the trade court's decision. "Section 122 was passed in response to a specific historical crisis that resulted in the United States's currency and gold reserves being depleted," said Liberty Justice Center senior counsel Jeffrey Schwab after the ruling.

"The United States has a trade deficit, not a balance-of-payments deficit, and does not have international payments problem," Schwab said in a statement. Trump's sector-specific tariffs on goods like steel, aluminum and autos remain unaffected by these legal challenges. Yet, Thursday's ruling marks the latest complication in Trump's tariffs agenda. Since the high court dealt a sharp blow to Trump's economic policy, businesses have also rushed for refunds.

US Customs and Border Protection estimated in March that more than 330,000 importers could be eligible for refunds after the Supreme Court's decision. The tariffs that were earlier struck down, imposed under the International Emergency Economic Powers Act, collected approximately $166 billion in duties and estimated deposits.

Von der Leyen said Thursday that the bloc has made "good progress" towards ratifying the deal by early July. "We remain fully committed, on both sides, to its implementation," she added on X. The 27-member EU bloc and the United States struck a deal last July, setting tariffs on most European goods at 15 percent.

But Trump has been dissatisfied at the speed of its implementation. The situation became more complicated after the US Supreme Court ruled in February that Trump had exceeded his authority in imposing a wide swath of his tariffs, including on the EU. The Trump administration has since imposed a temporary 10-percent duty, while his administration pursues more lasting ways to rebuild his trade agenda.

But the court ruling did not affect sector-specific tariffs like those on cars, which under the EU agreement had been lowered to 15 percent. As the deal continues to await signoff by EU member states, Trump vowed last week to raise duties on EU cars and trucks to 25 percent, accusing the bloc of failing to hold up its side of the bargain. Cyprus, which holds the rotating presidency of the Council of the European Union, said it wanted to maintain "positive momentum" at talks with MEPs on May 19.

"I've been waiting patiently for the EU to fulfill their side of the Historic Trade Deal we agreed in Turnberry, Scotland, the largest Trade Deal, ever!" Trump posted on his Truth Social platform. "A promise was made that the EU would deliver their side of the Deal and, as per Agreement, cut their Tariffs to ZERO!" In late March, EU lawmakers gave their green light to the tariff deal with Trump, but they also sought additional safeguards. Despite conditional approval by the European Parliament, the deal must be negotiated with EU states before it can be implemented by the bloc.

The benchmark international oil contract Brent Crude finished just above $100 at $100.06 a barrel, down 1.2 percent. Major US indices were in positive territory early in the day, but finished lower. Both the S&P 500 and Nasdaq retreated from records. "I just think the market is a little tired here after a pretty extensive run since the end of March," said Tom Cahill of Ventura Wealth Management.

"There are a lot of bits of information coming out with reference to what's going on between Iran and the United States," Cahill said. "So I think the market right now is more focused on that than anything else." Earlier, European stock markets declined after big gains the previous session, while leading Asian markets climbed. Tokyo soared 5.6 percent, which largely reflected resumption of trading in Japan after public holidays this week.

"The wild streak of enthusiasm which hit markets amid hopes for a major de-escalation in the Iran conflict is tempering," noted Susannah Streeter, chief investment strategist at Wealth Club. "There's a realization that there are more hurdles to climb for a longer-term resolution to be agreed, even though Iran is reported to be studying a US peace proposal aimed at formally ending the conflict." US President Donald Trump said an agreement could be near after what he called positive talks. Iran said it would pass on its latest position to mediator Pakistan.

The war, launched by the United States and Israel in late February, has seen Iran respond with attacks across the Middle East and impose a chokehold on the Strait of Hormuz, the gateway to the Gulf oil and gas industries and a strategic trade route. Norway's central bank on Thursday hiked its guiding rate by a quarter point to 4.25 percent, citing a risk that the war in the Middle East could worsen already elevated inflation.

"Inflation is too high and has run above target for several years," Norges Bank governor Ida Wolden Bache said in a statement. Elsewhere, Emirates Group on Thursday announced a three-percent rise in annual profits to $5.7 billion despite severe disruption to flights owing to the war. Whirlpool fell 11.9 percent as it reported an $85 million loss on lower sales, saying that the Iran war "resulted in recession-level industry decline in the US as consumer confidence collapsed in late February and March."

Ventura's Cahill said more companies could face such pressures due to spiking gasoline prices that have left consumers strapped for cash.

"The consumer continues to feel the pinch of higher prices," he said.

- Key figures at around 2015 GMT -

Brent North Sea Crude: DOWN 1.2 percent at $100.06 a barrel

West Texas Intermediate: DOWN 0.3 percent at $94.81 a barrel

New York - DOW: DOWN 0.6 percent at 49,596.97 (close)

New York - S&P 500: DOWN 0.4 percent at 7,337.11 (close)

New York - Nasdaq Composite: DOWN 0.1 percent at 25,806.20 (close)

London - FTSE 100: DOWN 1.6 percent at 10,276.95 (close)

Paris - CAC 40: DOWN 1.2 percent at 8,202.08 (close)

Frankfurt - DAX: DOWN 1.0 percent at 24,663.61 (close)

Tokyo - Nikkei 225: UP 5.6 percent at 62,833.84 (close)

Hong Kong - Hang Seng Index: UP 1.6 percent at 26,626.28 (close)

Shanghai - Composite: UP 0.5 percent at 4,180.09 (close)

Euro/dollar: DOWN at $1.1746 from $1.1748 on Wednesday

Pound/dollar: DOWN at $1.3576 from $1.3593

Dollar/yen: UP at 156.83 yen from 156.39 yen

Euro/pound: UP at 86.52 pence from 86.42 yen

Atsushi Mimura, Japan's top currency official, on Thursday declined to comment, local media reported. US Treasury Secretary Scott Bessent was due in Japan next week to discuss currency issues and other matters, the Nikkei daily reported. Bessent was then due to join US President Donald Trump in China, the report said, citing US- and Japanese diplomatic sources.

The yen has weakened on the back of the recent rise in oil prices as well as the gap between US and Japanese interest rates. The last time Japanese authorities intervened was in July 2024 as the yen neared 162 per dollar, spending some 5.5 trillion yen.

The refinery resumed operations after receiving the new supply. A vessel named MT Ninemia brought 100,000 tonnes of crude oil to the Kutubdia Channel, bypassing the Strait of Hormuz route disruption. Due to the large size of the vessel, the crude oil is being transferred to smaller tankers through lightering operations before being delivered to the refinery in Patenga. Commodore Mahmudul Malek confirmed the safe arrival of the vessel carrying the crude oil needed for refinery operations.

After completion of customs and survey formalities, the process of transporting the crude oil to Eastern Refinery through lighter vessels has begun. Another tanker named MT Fossil has been dispatched to collect another 100,000 tonnes of crude oil from Fujairah in the United Arab Emirates. The tanker is expected to arrive at the port on May 9 and will begin loading on May 10. 

Additionally, Bangladesh Petroleum Corporation (BPC) has 100,000 tonnes of crude oil on board the vessel 'Nordics Pollux', which is currently stranded in Ras Tanura port in eastern Saudi Arabia due to disruptions in shipping through the Strait of Hormuz. The state-owned Eastern Refinery processes around 1.5 million tonnes of crude oil annually, meeting approximately 20 percent of the country's annual fuel demand of 7.2 million tonnes.

Bangladesh still depends heavily on imported fuel to meet domestic demand, while a small portion is supplied from local gas condensate processing. Diesel remains the country's most demanded fuel, followed by furnace oil, petrol, octane, kerosene and jet fuel used in aviation operations. In the fiscal year 2024-2025, BPC sold 6,835,341 tonnes of fuel.  

The agreement marks a significant step toward integrating renewable energy infrastructure into the country’s industrial development strategy and creating a framework for utilizing unused government land for clean energy generation. Under the MoU, the two organizations will jointly develop a pilot solar power project on approximately 412 acres of land in Sonagazi Upazila of Feni district, which falls under the National Special Economic Zone extending across Mirsarai and Sonagazi.

The project will be implemented in accordance with the “Guidelines for Development of Renewable Energy Projects using Land Owned by Government Agencies under PPP Modality, 2026,” recently approved by the Ministry of Power, Energy and Mineral Resources. Officials said the MoU establishes a clear institutional framework for project implementation, defining the responsibilities of both agencies under a split-governance structure. According to the agreement, BEZA will act as the land-owning authority and will provide the project site while ensuring alignment with industrial requirements inside the economic zone. BPDB, on the other hand, will serve as the contracting authority responsible for technical procurement, grid integration and management of the Power Purchase Agreement (PPA).

Officials described the agreement as a strategic initiative to encourage private investment in renewable energy by reducing land acquisition complexities and providing a structured policy framework for investors. The Sonagazi project was officially designated as the country’s pilot renewable energy PPP initiative during a high-level ministerial meeting held on April 2, 2026.  Earlier, the Advisory Committee on Economic Affairs approved the policy concept on March 6, 2025, while the ministry formally endorsed the guidelines on April 7 this year.

Sector experts believe the MoU could become a model for future renewable energy projects on government-owned land, allowing state agencies to transform underutilized assets into productive clean energy infrastructure. A key feature of the proposed project is the inclusion of Battery Energy Storage Systems (BESS), aimed at ensuring grid stability and reliable power supply for industrial consumers within the economic zone. Officials said the initiative is expected to strengthen Bangladesh’s green industrialization efforts, improve the environmental sustainability of economic zones and enhance the country’s attractiveness to environmentally conscious foreign investors.

As part of the next phase, authorities are preparing to organize a market sounding workshop to engage potential domestic and international investors and finalize the structure of the competitive bidding process. The government expects the pilot project to serve as a replicable framework for future PPP-based renewable energy developments across the country.

Although the index remained marginally positive during mid-session trading, persistent selling pressure gradually eroded early gains, pushing the market into negative territory by the close. Market activity showed a rise in participation, with turnover increasing by 10.1 percent to TK  8.4 billion from TK  7.7 billion in the previous session. Analysts noted that despite the index decline, heightened trading reflected active repositioning by investors across select sectors.

Sector-wise performance remained mixed. Engineering accounted for the highest share of turnover at 15.5 percent, followed by Textile at 13.5 percent and General Insurance at 12.9 percent. Among sectors, General Insurance led gains with a 2.5 percent rise, while Travel and Ceramic advanced by 0.8 percent and 0.5 percent respectively. On the other hand, Paper declined by 1.4 percent, while Life Insurance and Jute each fell by 0.8 percent.

Investor sentiment remained cautious as market participants weighed global uncertainties, including developments surrounding ceasefire negotiations in the Middle East. Speculative activity, however, shifted selectively toward the insurance sector, driven by short-term trading opportunities. Of the 396 issues traded on the DSE, 123 advanced, 194 declined, and 79 remained unchanged. Meanwhile, the port city bourse also ended lower. The Chattogram Stock Exchange (CSE) Selective Categories Index (CSCX) fell by 61.7 points, while the All Share Price Index (CASPI) declined by 98.8 points.

During the meeting, the Ambassador said Bangladesh’s ongoing industrialization, infrastructure development, and large consumer market have made the country an attractive destination for international investors. The two sides discussed issues relating to the creation of a business-friendly environment, expansion of investment opportunities, infrastructure development, and strengthening long-term strategic partnerships. 

Ambassador Séré-Charlet welcomed the government’s initiatives aimed at making business operations more efficient and streamlined. Muktadir said the government is implementing a series of reforms to maintain a competitive and investment-friendly economic environment. He noted that special emphasis is being placed on improving the ease of doing business through reducing administrative complexities, digitalizing approval processes, and ensuring faster services for investors. The meeting was also attended by Md. Abdur Rahim Khan, Secretary (Routine Duty)  of the Ministry of Commerce.

“We have registered 8.1 percent YoY growth and that too under very adverse socio-economic conditions intensified by the war in the west Asia,” said Robi Managing Director and CEO, Ziad Shatara. He said “This clearly shows that our AI-driven personalized product and service offers supported by sustained investment in network improvement is producing the desired result.” “Meanwhile, we have been able to generate healthy profit for our shareholders in Q1’26 by sustaining our disciplined approach to cost management and investment planning,” said Ziad, adding, “We look forward to continuing this performance with brightening economic climate over time.”

According to the statement, CAPEX for Q1’26 reached TK 349.5 crore, while total payment to the Government exchequer reached TK 2,073.6 crore at the end of Q1’26, which was 82 percent of the total revenue for the quarter. Active subscriber base in Q1’26 stood at 5.74 crore followed by 4.45 crore and 4.03 crore at Data subscriber base and 4G subscribers base respectively.  On average, each data user used 8.95 GB data every month in Q1’26, which was 15.4 percent higher than same period last year.

EBITDA reached TK 1,350.3 crore with 53.3 percent margin in Q1’26. YoY EBITDA growth of 21.6 percent indicates that the company’s high level of discipline in cost management is producing the desired results.  YoY EBITDA margin grew by 5.9 percentage points (pp). Network milestones included over 19,300 4G sites at the end of Q1’26, achieving 98.98 percent population coverage. 

From the quarterly perspective, Robi’s revenue in Q1’26 dipped slightly by 2.1 percent compared to the last quarter (QoQ). This dip was primarily caused by having couple of fewer calendar days than the last quarter. Average data usage by data users in Robi network grew by 6.1 percent compared to last quarter. EBITDA saw a decent growth of 4.3 percent and the EBITDA margin experienced a growth of 3.3pp compared to last quarter.

Data also showed that expatriate Bangladeshis sent a total of $30,085 million in remittances during the period from July to May 6 of the current fiscal year. In comparison, the inflow was $25,163 million during the corresponding period of the previous fiscal year. The upward trend in remittance earnings is expected to provide support to the country’s foreign exchange reserves and help stabilise the external sector, analysts added.

In a significant development for the country’s offshore energy exploration framework, the committee accorded in-principle approval to the draft “Bangladesh Offshore Model Production Sharing Contract (PSC) 2026”. The proposal, presented by the Energy and Mineral Resources Division, seeks to modernize and strengthen the contractual structure governing offshore hydrocarbon exploration activities. 

The committee recommended the draft for approval in- principle to facilitate future investment and operational arrangements in offshore oil and gas exploration. The CCEA also discussed a proposal from the Power Division concerning subsidy support for selected power import and generation entities to maintain uninterrupted electricity supply. Following discussions, the committee granted “in-principle approval (Partial)” to the proposal. 

The partial approval covers subsidy eligibility for power imports from India and Nepal, electricity imports from Adani Power Jharkhand, government-owned power plants, and joint venture-based power projects.

The Minister made the remarks while speaking as the chief guest at the inauguration of the three-day 1st International Dhaka Industrial Packaging Expo 2026 at the Bangladesh-China Friendship Conference Centre in the city. On logistics, the Minister said the sector accounts for about 16 percent of Bangladesh’s GDP, compared to the global average of around 10 percent.

He attributed the higher cost to inefficiencies in port management and said the government is bringing in internationally experienced foreign operators to improve efficiency. Muktadir stressed that as Bangladesh moves toward developing country status, temporary measures are no longer sufficient and long-term structural reforms are necessary.

Regarding state-owned industries, he said many large enterprises under the Ministry of Industries and the Ministry of Textiles and Jute have remained idle or loss-making for years, requiring continued government subsidies. He said there are around 40 such units under the Industries Ministry and 50 under the Textiles and Jute sector.

The government, he added, plans to open up these assets for private investment within the next one to two years, including converting underutilized sugar mills into modern industrial parks and multi-purpose production hubs. Highlighting the packaging sector, the minister urged entrepreneurs to expand into global markets, assuring policy and institutional support from the government. 

He said the industry itself must take the lead in driving growth. Export Promotion Bureau (EPB) Vice-Chairman Mohammad Hasan Arif said packaging plays a crucial role in export diversification and accessing new international markets. The event also underscored the strength of the domestic plastic industry, which comprises over 6,000 production units, employs around 1.5 million people, and meets more than 80 percent of domestic demand, with about 450 export-oriented units.

Organized by Exponet Exhibition Private Limited, the expo aims to connect entrepreneurs, technology providers, and investors to promote industrial growth and innovation.

The directors elected from panel 'Kha' are: Touhid Hasan, Mainul Haque, Md. Shamsuzzaman, Tasnim Hossain, Golam Saklain, A J M Jannatul Islam, Aminul Islam, and Mahmud Hasan. The biennial election of the Board of Directors for the Rajshahi Chamber of Commerce and Industry was held on Saturday, after 17 years, in a festive atmosphere. Voting took place from 8:00 am to 5:00 pm at the Chamber building. Chief Election Commissioner Arif Hossain, Assistant Commissioner (Land) of Boalia Thana Land Office, announced the results around 11:30 pm after counting.

Out of 2,900 total voters, 2,434 cast their votes. The election was in a peaceful and festive atmosphere. The election saw strong voter turnout from morning onward, with candidates actively seeking support until the final hour.

They emphasized that the FY27 budget must proactively address these constraints to prevent further economic deceleration. The speakers made the observation at a seminar on "National Budget 2026-2027: Private Sector Priorities and Perspectives," at a hotel in the city. The Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) and the Economic Reporters' Forum (ERF) jointly organised the seminar. In the seminar, Kamran T. Rahman, MCCI president, presented a comprehensive series of recommendations for the upcoming fiscal year 2024-25, calling for a decisive transition from a punitive tax approach to a supportive and growth-oriented fiscal framework.

He underscored the necessity of a balanced and realistic policy to stimulate investment and employment. He also sought the continued cooperation of the media, expressing gratitude for the professional role journalists play in highlighting the critical challenges facing the private sector. To bolster revenue collection and broaden the tax base, the MCCI president recommended the full integration of the National ID (NID) and Taxpayer Identification Number (TIN) databases. Citing a significant discrepancy, he pointed out that while the country has over 10 million TIN holders, less than half currently file tax returns. To address this, he suggested specific measures intended to remove the fear associated with entering the tax net, including introduction of a nominal annual tax of Tk 100 or Tk 1,000 for new taxpayers to encourage registration and development of a simplified mobile application for hassle-free return filing.

The minister said FBCCI must play a stronger and more active role in protecting the interests of businessmen and thus effectively placing their demands before the government, said a Commerce Ministry press release. He noted that the apex trade body should also take a constructive and positive stance, including creating necessary pressure when required, to secure policy support. He, however, cautioned that the organization must not be used for any political purposes.

"We want to see an FBCCI that truly works as a united platform for all businessmen," he said, adding that the body would act as a force supportive to the Ministry of Commerce by providing realistic inputs in policymaking. Muktadir said dynamic and result-oriented leadership is essential to make the organization more effective, adding that leadership should come from within the business community to ensure it can safeguard interests of the businesses properly.

Assuring the business leaders, he said the government remains committed to creating a business-friendly environment. "A new import policy is at its final stage and will be unveiled soon," he said, adding separate committees comprising business representatives will be formed to simplify services in the ministries of textiles and jute, industries, and commerce. Additional Secretary (Export) of the Ministry of Commerce and FBCCI Administrator Md Abdur Rahim Khan also spoke at the meeting.

Among others, former FBCCI president Mir Nasir Hossain, BKMEA president Mohammad Hatem, former FBCCI director Nasrin Fatema Awal, Abdul Haque, president of Bangladesh CNG Machineries Importers Association Zakir Hossain Nayan, general secretary of Bangladesh Super Market Association Zakir Hossain, former FBCCI director Gias Uddin Chowdhury Khokon, former Rangamati Chamber president Belayet Hossain Bhuiyan, former FBCCI vice-president Nizam Uddin Rajesh and former director Syed Bakhtiar, among others, took part in the meeting.

The business leaders placed various recommendations to make FBCCI more effective and business-friendly. They also proposed appointing a representative from the business community as administrator ahead of the upcoming election.

Although the indices held steady through mid-session, the momentum fell short as mounting selling pressure in major large-cap scrips eroded early gains, ultimately pulling the market into negative territory by the session's close. Nevertheless, market turnover remained resilient, while slightly increasing by 1.6% to Taka  8.2 billion from Taka 8.1 billion in the previous session. 

On the sectoral front, Engineering (18.9%) accounted for the highest share of turnover, followed by Textile (13.6%) and General Insurance (13.3%) sectors. Sectors mostly displayed dismal returns, out of which Paper (-1.7%), Travel (-1.5%) and Jute (-1.1%) displayed the most corrections on the bourse today, while General Insurance (2.2%), Textile (0.4%) and Tannery (0.1%) exhibited positive returns. 

Of the 397 issues traded, 123 advanced, 208 declined, and 65 remained unchanged. The port city bourse, CSE, also settled on a negative territory. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) declined by 5.4 points and 10.0 points, respectively.

The inclusion of five leading banks will allow investors to access essential banking services from a single platform, he added. The banks that joined the initiative are NCC Bank PLC, One Bank PLC, United Commercial Bank PLC, Shimanto Bank PLC, and Al-Arafah Islami Bank PLC.  Under the agreement, investors will now be able to open bank accounts online through the OSS portal, including temporary accounts for foreign investors. Currently, the OSS platform offers 142 services and is integrated with 47 stakeholder agencies.

So far, more than 215,000 applications have been processed through the system. With the addition of the five banks, the scope of services is expected to expand further. BIDA has so far signed 68 MoUs with various service providers. BIDA also plans to expand OSS services to more than 150 services across 60 institutions in the coming years. In addition, it is working on developing "BanglaBiz", a unified single digital platform that will integrate all investment promotion agencies (IPAs), enabling investors to access services through a "one-time information" principle.

At the beginning of the programme, Director (OSS & Data Analytics) Sunil Kumar Adhikari delivered the welcome speech. A presentation on the OSS system was given by BIDA Director General Jiban Krishna Saha Roy. Speakers at the event included Md Shahidul Islam, Head of Business at Shimanto Bank; Adnan Masud, Additional Managing Director of UCB; M. Shamsul Arefin, Managing Director and CEO of NCC Bank; Md Rafat Ullah Khan, Managing Director and CEO of Al-Arafah Islami Bank; and Kazi Ziaul Islam, Managing Director and CEO of One Bank.

During the meeting, Khandaker Abdul Muktadir underscored the government's prioritized focus on attracting both domestic and foreign investment to the renewable energy sector. Highlighting a central pillar of the nation's energy strategy, the minister revealed that the government has already initiated comprehensive activities to reach a 10,000 MW solar power production target. In a direct call to action for international partners, the minister assured that the government is prepared to offer all necessary policy and institutional support to facilitate foreign capital.

In the meeting, Ajit Singh acknowledged the robust foundation of the Bangladesh-Canada relationship, noting a vast potential for further trade expansion. He specifically pointed to the Bangladeshi diaspora in Canada as a vital economic bridge, contributing significantly to the prosperity of both countries. According to the High Commissioner, Canadian investors are increasingly eyeing the Bangladeshi market, with a strategic focus on three key areas, Agri-food, Fintech and Renewable Energy (Solar Power).

The High Commissioner expressed confidence that such sectoral cooperation would not only drive economic returns but also further solidify the friendly diplomatic relations between Dhaka and Ottawa. The meeting concluded with both parties reaffirming their commitment to a broader economic partnership. The dialogue was characterized by a mutual intent to transform diplomatic goodwill into tangible trade milestones. Additional Secretary (Export) of the Ministry of Commerce Md. Abdur Rahim Khan, among others, was present on the occasion.

In his speech, Ashik Mahmud Bin Harun, contended that for Bangladesh to thrive, policymakers and business leaders must pivot from a reliance on conventional local trade toward a deep integration with the global economy. To regain the confidence of international investors and shareholders, the BIDA Chairman urged a transition from traditional administrative functions to a model of genuine stewardship.

He positioned Chartered Secretaries as the primary facilitators of this transformation, noting that their expertise is essential for restoring institutional trust and ensuring that corporate entities operate with the highest levels of transparency and accountability. During the session, the leadership of the ICSB articulated several strategic policy recommendations designed to modernize the nation's regulatory framework and enhance investment facilitation. Hossain Sadat FCS, President of the Institute of Chartered Secretaries of Bangladesh (ICSB), formally urged the government to include a Chartered Secretary on the BIDA Advisory Board to leverage professional governance expertise in national investment strategies.

He further emphasized the urgent need for the mandatory introduction of Corporate Governance Audits and Secretarial Audits to provide systemic verification of compliance and ethical conduct. Mohammad Sanaullah FCS, Past President and Chairman of the Professional Development Committee (PDC) of ICSB, called for the enactment of a new Companies Act, arguing that updated legislation is prerequisite to attracting and sustaining significant Foreign Direct Investment (FDI).

Presenting the keynote paper, Akhter Matin Chaudhury FCA, FCS, former Councilor of ICSB, defined the Board of Directors as the central driver of governance, strategy, and sustainable value creation. He noted that a board’s effectiveness is measured by its ability to translate statutory mandates into disciplined oversight and strategic clarity. Akhter Matin Chaudhury FCA, FCS identified ethical leadership, independence, and diversity as the foundational operational pillars of sound governance.

He cautioned that regulatory complexity and existing governance gaps, particularly in family-owned enterprises, frequently create structural weaknesses. He concluded that long-term organizational success hinges on a triad of balanced integration: control, foresight, and strategic leadership, all supported by continuous director development. The symposium featured a high-level panel discussion exploring the evolution of professional board standards. 

Md. Naharul Islam Molla, Managing Director of Unilever Consumer Care, focused on the board's role in fostering sustainability through a trust-based governance culture. He advocated for a relationship between the board and management that is both independent and constructive, emphasizing the need for forward-looking practices and adaptability. Contributing a different perspective, Mohammad Iqbal Chowdhury FCS, Chief Executive Officer of LafargeHolcim Bangladesh PLC, addressed the challenge of transforming family-owned businesses into professionally governed institutions. He stressed the importance of the tone at the top, transparency, and the strategic utilization of external expertise and reverse mentoring.

Traffic in the strategic waterway, through which one-fifth of the world's crude oil normally flows, has been disrupted by Iran since the US-Israeli offensive began on February 28, at one point sending oil prices to a peak of nearly $120 a barrel and roiling the global economy. Both Brent, the benchmark international contract, and its US equivalent WTI fell below $90 per barrel following Tehran's announcement. Brent later cut its losses and finished at $90.38 a barrel, down 9.1 percent. "This news is having an immediate impact on markets," said Kathleen Brooks, research director at XTB.

The move also sent a jolt through equity markets, extending a rally in New York, where equities have pushed ever higher since late March in anticipation of a breakthrough in the Middle East crisis. "We had seen a big move the last two weeks and now it's just really pricing completely out the worst-case" scenario, said Angelo Kourkafas, from Edward Jones. Kourkafas also pointed to underlying strength in the US economy that should get more attention in the coming period as geopolitical concerns ebb.

"Geopolitical developments are moving the right direction and at the same time the earning strength is hard to ignore," Kourkafas said. The broad-based S&P 500 finished at 7,126.06, up 1.2 percent for the day and 4.5 percent for the week. Earlier, European stocks closed higher, with both Frankfurt and Paris gaining two percent. US President Donald Trump cheered the reopening of the Strait of Hormuz in an interview with AFP.

"We're very close to having a deal," Trump said in a brief telephone call with AFP from Las Vegas, adding there were "no sticking points at all" left with Tehran. But Iran quickly pushed back on one key point. Iran's foreign ministry said Friday that its stockpile of enriched uranium would not be transferred "anywhere," rejecting an earlier claim by Trump that the Islamic republic had agreed to hand it over. Shipping industry figures, meanwhile, gave a cautious welcome to Iran's announcement.

A spokesman for German transportation giant Hapag-Lloyd, which has ships stuck in the Gulf, told AFP by phone that the reopening was "in general... good news." But he cautioned that shippers still needed details of what route vessels could take and in what order, citing fears of mines. "One thousand ships cannot just go now to the entrance of the strait, that will be chaos. They (the Iranians) need to give clear orders," said the spokesman, Nils Haupt.

"We would be ready to go very soon if some of these open questions can be solved within the weekend."

- Key figures around 2020 GMT -

Brent North Sea Crude: DOWN 9.1 percent at $90.38 a barrel

West Texas Intermediate: DOWN 11.5 percent at $83.85 a barrel

New York - Dow Jones: UP 1.8 percent at 49,447.43 (close)

New York - S&P 500: UP 1.2 percent at 7,126.06 (close)

New York - Nasdaq Composite: UP 1.5 percent at 24,468.48 (close)

London - FTSE 100: UP 0.7 percent at 10,667.63 (close)

Paris - CAC 40: UP 2.0 percent at 8,425.13 (close)

Frankfurt - DAX: UP 2.3 percent at 24,702.24 (close)

Tokyo - Nikkei 225: DOWN 1.8 percent at 58,475.90 (close)

Hong Kong - Hang Seng Index: DOWN 0.9 percent at 26,160.33 (close)

Shanghai - Composite: DOWN 0.1 percent at 4,051.43 (close)

Euro/dollar: DOWN at $1.1776 from $1.1781 on Thursday

Pound/dollar: UP at $1.3530 from $1.3527

Dollar/yen: DOWN at 158.49 yen from 159.17 yen

Euro/pound: DOWN at 87.02 pence from 87.09 pence

Gross domestic product in the world's second-largest economy expanded 5.0 percent year-on-year in January-March -- beating an AFP forecast of 4.8 percent -- according to data published by the National Bureau of Statistics.

Gross domestic product in the world's second-largest economy expanded 5.0 percent year-on-year in January-March, according to the National Bureau of Statistics (NBS). The reading was slightly higher than an AFP forecast of 4.8 percent based on a survey of economists. During the first quarter, China's economy "achieved a strong start to the year, further demonstrating its resilience and vitality", the NBS said in a statement announcing the data.

The reading came days after the International Monetary Fund cut its 2026 global growth projection, warning that the world economy could be "thrown off course" by the Middle East war. It also reduced its forecast for China to 4.4 percent growth, from a previous estimate of 4.5 percent. "The global economy is facing this next test of resilience as signs of unevenness lie beneath the surface," it said, noting that China's "domestic activity -- especially in the housing sector -- lags behind exports".

Beijing has set a 2026 target of 4.5-5.0 percent growth -- the lowest in decades. A years-long crisis in the property sector and a persistent slump in domestic spending have left leaders reliant on exports to meet growth targets. Outbound shipments have boomed, exemplified by the country's whopping $1.2 trillion trade surplus last year. But data this week showed export growth slowed sharply in March, indicating that war in the Middle East was already taking a toll.

Thursday's NBS data also showed retail sales grew 1.7 percent on-year in March, well short of a Bloomberg forecast of 2.4 percent. Industrial production rose 5.7 percent, the NBS said, beating a Bloomberg estimate of 5.3 percent but well down from the 6.3 percent seen in January and February combined. The first-quarter acceleration in growth was fuelled by exports, Zichun Huang of Capital Economics wrote in a note.

"We think growth will soften a bit over the rest of the year," she said. "While the Chinese economy is holding up well, it is becoming ever more dependent on external demand," she said, noting that the Iran war "is likely to add to this trend". A major international trade fair kicked off this week in Guangzhou -- a metropolis in China's southern manufacturing heartland -- where attendees told AFP the war is impacting their business. Chinese exporters and Middle Eastern buyers at the opening day of the Canton Fair on Wednesday gloomily told AFP the Iran war had pummelled orders and led to price hikes.

Wang Jun, the deputy head of China's customs administration, this week acknowledged "many uncertainties and instabilities in the external environment". "The impact of international geopolitical conflicts on global industrial and supply chains is still evolving in a complex manner," he said.

The deal was executed by Saleh Ahmed, Additional Secretary and Executive Member for Investment Development at BEZA, and Abu Sufian Chowdhury, Managing Director of Modern Syntex Limited. Under the agreement, Modern Syntex will invest US$7.5 million to expand its existing facility on 3.75 acres of land in Mirsarai, Chattogram. During the ceremony, Saleh Ahmed highlighted that investments from prominent domestic groups like Modern Syntex are pivotal in reducing Bangladesh's dependency on foreign imports. 

He reiterated BEZA's commitment to fostering an investment-friendly climate and providing necessary logistical support, while urging the investor to prioritize rapid industrial setup and eco-friendly production methods. Representing the investor, Abu Sufian Chowdhury noted that the company is leveraging modern, technology-driven, and eco-friendly practices at the NSEZ site. 

He added that the firm is focused on the swift expansion of its facilities to better serve both domestic and international markets by utilizing its established reputation and experience. The NSEZ remains the centerpiece of Bangladesh's industrial strategy, stretching 25 kilometers along the coast as the country's largest planned industrial hub. The zone is rapidly maturing, with 15 industrial units already in production and another 20 units currently under construction. Beyond manufacturing capacity, the zone is being developed as a comprehensive city system, integrating sophisticated urban facilities to create a holistic environment for both industry and workers.

The move comes two weeks after the United States lifted sanctions against Venezuela's interim President Delcy Rodriguez, who took power after Washington ousted her predecessor Nicolas Maduro in a military operation in January. Ties between Washington and Caracas have warmed since Maduro's ouster, with Rodriguez complying with US President Donald Trump's demands for Caracas to open up its energy industry to American companies.

The United States has eased a seven-year-old oil embargo on Venezuela and issued licenses allowing a handful of multinationals to operate in the country under certain conditions. The US embassy in Venezuela also resumed operations last month after being closed for seven years.

President Donald Trump said Tuesday that US-Iran peace talks could resume later this week, and Israel and Lebanon agreed to launch direct negotiations, signaling movement on two key fronts in efforts to ease the Middle East conflict.

"Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has informed that the Kingdom of Saudi Arabia has committed USD 3 billion in additional deposits, with disbursement expected in the coming week," the ministry said in a statement.

Aurangzeb, who is in Washington for the International Monetary Fund's annual Spring Meetings, added that an existing $5 billion Saudi deposit would also be extended for an unspecified period.

In the 2024-25 fiscal year, BEPZA zones accounted for 17.03 percent of national exports and 19.47 percent of total foreign direct investment (FDI). Over the past 45 years, the authority has attracted $7.29 billion in investment and facilitated exports worth over $125 billion. The efficiency of the zones is reflected in the contribution of each acre of land, which generates approximately Taka 13.82 crore annually for the economy. The press release said that BEPZA has also contributed to industrial diversification beyond the ready-made garments (RMG) sector. At present, 32 percent of its 450 active factories produce RMG products, while the remaining 68 percent manufacture diverse goods including automobile parts, camera lenses, drones, archery equipment and caskets.

The BEPZA Economic Zone in Mirsarai is emerging as a hub for high-tech industries, including the country's first commercial drone manufacturing facility. BEPZA currently employs over 5.5 lakh workers, a large portion of whom are women, contributing to social empowerment and workforce inclusion. Workers in EPZs receive a minimum wage of Taka 12,800 excluding food and transport, compared to Taka 12,500 including allowances in outside factories.

The authority is also recognized for its commitment to sustainable industrialization, with 27 LEED-certified green factories, including eight Platinum-rated units. It has introduced Central Effluent Treatment Plants (CETP), renewable energy initiatives and improved water management systems. To expand industrial capacity, BEPZA is developing two new EPZs in Jashore and Patuakhali, with plot allocation expected within the year. Two additional EPZs have also been proposed for Rangpur and Sirajganj.

Despite global economic challenges, BEPZA signed investment agreements worth $629.93 million with 30 local and foreign companies in the first nine months of the 2025-26 fiscal year, reflecting continued investor confidence.

The adviser made the remarks today while talking to reporter after the first meeting of the Advisory Committee for the General Economics Division at NEC conference room in the city. In his speech, Titumir outlined a vision to transform the national economy into a US$1 trillion powerhouse by 2034 while ensuring that growth is inclusive and generates employment. To safeguard against future global crises, the adviser mentioned that the government is focusing on strategic reserves for food and energy. 

This includes a push to increase the extraction of domestic gas and other energy resources to ensure national energy security, he added. The adviser expressed concern over recent economic census data showing a decline in industrial production. He stressed the need for industrial diversification and enhanced productivity to build a resilient economy. He also identified deep-seated crises in the education and health sectors, specifically citing a decline in students' skills and overall performance as a major challenge. 

To support the population within a damaged economy and a hostile international environment, he said, the government has introduced Family Cards and Farmer Cards to bolster social protection and improve living standards. The adviser noted that the new economic blueprint calls for a fundamental change in governance, focusing on transparency and accountability. Titumir stated that the government aims to move away from plans that were isolated from the public.

He proposed making data-such as energy supply schedules-publicly available to allow citizens to evaluate government effectiveness. Additionally, he said, the government seeks to restore confidence in the capital markets, which have been hampered by post-COVID scandals that discouraged small investors. By converting election pledges into implementable strategies, he said, the government aims to navigate current economic headwinds and ensure a more equitable distribution of wealth.

Market indices were range bound throughout the session with active participation on both sides; however, buying momentum ultimately prevailed, driving broad-based price appreciation across most scrips. However, cautious selling persisted in sector-specific large-cap scrips that continued to temper the market’s upward momentum. Meanwhile, market turnover increased by 5.4% to TK 8.4 billion from TK  7.9 billion in the previous session. 

On the sectoral front, Engineering (21.2%) accounted for the highest share of turnover, followed by Pharma (11.0%) and General Insurance (10.7%) sectors. Sectors mostly displayed mixed returns, out of which Ceramic (3.4%), Travel (2.9%) and IT (1.6%) exhibited the most positive returns, while Bank (-0.3%), Cement (-0.2%) and Food (-0.1%) displayed the most corrections on the bourse today. 

Of the 397 issues traded, 235 advanced, 87 declined, and 74 remained unchanged. The port city bourse, CSE, also settled on a positive territory. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) declined by 12.8 points and 23.5 points, respectively.

"We do not want to dictate to Bangladesh Bank in any way," Titumir stated, clarifying that the relationship will instead focus on the synchronization of fiscal and monetary policies. The adviser made these remarks while speaking at a Focus Group Discussion (FGD) on 'Synergizing Banking Sector: Lenders' and Borrowers' Perspective' organized by the Dhaka Chamber of Commerce and Industry (DCCI) at its conference room in the city. DCCI President Taskeen Ahmed delivered the welcome remarks and keynote presentation.

Senior Executive Director of the Walton Hi-tech Industries PLC Md Zahidul Islam, Deputy Managing Director of City Bank PLC Ashanur Rahman, Managing Director of the NCC Bank PLC M. Shamsul Arefin, Director (SME & Special Programmes Department) of the Bangladesh Bank Nawshad Mustafa and Chairman of the Bangladesh Association of Banks (BAB) Abdul Hai Sarkar, were the distinguished panel discussants. In his speech, Titumir highlighted that the Governor of Bangladesh Bank has already initiated a program for economic recovery, restoration, and reconstruction. 

"This new agenda moves away from prescribed textbook styles of management to focus on objectives that go beyond traditional price and financial stability, specifically targeting growth and employment generation," he added. To address the firefighting phase of the current economy, he mentioned that the central bank is expected to roll out several targeted initiatives including Targeted Refinancing and Performance-Based Stimulus. Titumir critiqued past COVID-19 stimulus packages for being marred by nepotism and benefitting those close to power. 

He advocated for a transition to performance-based stimulus packages to ensure that aid reaches productive sectors rather than the 5,000 major borrowers who currently hold a high concentration of defaulted loans. To assist industrial sectors lacking adequate assets, he said, the government and the central bank are exploring Credit Guarantee Schemes and joint funds. In his presentation, Taskeen Ahmed has highlighted a paradoxical landscape in the national banking sector, where record-high excess liquidity exists alongside a contraction in private sector credit. 

In a detailed presentation, he outlined the critical challenges facing both lenders and borrowers, urging a comprehensive synergy framework to restore economic stability. He mentioned that the banking sector currently holds total liquid assets of Taka 626,044.90 crore, marking a 6.78% increase. However, he said, despite excess liquid assets reaching Taka 321,255.47 crore, private sector credit growth has slowed to 6.03%, down from 7.15%. 

The DCCI President noted that banks are accumulating liquidity as a buffer against perceived credit risks rather than deploying it for productive lending. This trend is exacerbated by a massive surge in government borrowing from the banking system, which rose by 673% between July and January of the 2026 fiscal year, he added. The DCCI President proposed a three-pillar Synergy Framework. The pillars are Stabilize the System; Expand and Equalize Credit; and Governance Reform.

He laid emphasis on enforcing strict NPL targets (below 10% for State-Owned Banks and below 5% for Private Commercial Banks by June 2026) and prosecuting willful defaulters under the Banking Companies Amendment Act. The President concluded that the current problem is not a scarcity of capital, but rather a crisis of risk perception and credit allocation dysfunction that must be corrected to prevent further business failures and economic slowing.

He emphasized the potential for joint ventures in several key sectors, including ready-made garments (RMG), textiles, agro-based industries, and light engineering. The Minister specifically invited Turkish entrepreneurs to invest in leather and jute products, pointing out that Bangladesh's lower production costs offer a competitive advantage for investors seeking rapid returns. In response, Ambassador Ramis Sen praised the rapid growth of the Bangladesh economy and the availability of skilled human resources, which he identified as major attractions for Turkish investors. 

He particularly lauded Bangladesh's eco-friendly jute products, noting their popularity in the Turkish market. The Ambassador also extended his congratulations to Khandaker Abdul Muktadir for his appointment as Commerce Minister following his victory in the national elections. The meeting was also attended by Additional Secretary (Export) of the Ministry of Commerce Md. Abdur Rahim Khan and other senior officials.

The deals see Chevron increasing its stake in a joint venture it has with the Venezuelan state oil company, known as PDVSA, that extracts oil from the Orinoco Oil Belt -- one of the world's largest oil deposits, according to the US Geological Survey. In return, Chevron will hand over some rights to offshore gas extraction and reduce a stake in other ventures.

Since the stunning capture of former Venezuelan president Nicolas Maduro by US forces in early January, the Trump administration has worked closely with Rodriguez to drum up foreign investment in the country's petroleum sector. The push has been met with a mixed reaction, as some companies have felt skeptical about the heavy investment needed in infrastructure.

Rodriguez shepherded a reform of the country's petroleum regulations in late January, unwinding decades of state control over the oil sector. In return, the United States eased sanctions on Venezuela's oil industry, expanding the ability of US companies to operate in the country.

Some analysts cited President Donald Trump's claim that Iranian representatives phoned him and expressed keen desire for a deal after weekend talks in Pakistan failed to yield an agreement.

Oil prices, which had surged back above $100 a barrel as the United States imposed a blockade on Iran's imports, later eased. Both major contracts ended higher but below $100 a barrel.

"The market is betting that Trump will get some sort of a deal," said Peter Cardillo of Spartan Capital Securities.

Trump warned Monday that any Iranian attack boats that approach the American naval blockade around Iran's ports would be destroyed, despite international calls for a ceasefire to be respected.

But markets also took in the US president's White House comments that Iranian representatives had called to make a deal since the Islamabad talks failed.

"I can tell you that we've been called by the other side. They'd like to make a deal. Very badly, very badly," he told reporters outside the Oval Office, without identifying which officials had called.

US indices picked up momentum after Trump's remark near midday, with the broad-based S&P 500 finishing up 1.0 percent.

The advance in stocks suggests "that the market remains confident that a potential end to the conflict could be imminent and that it will spur a sharp upward move across equities," said Briefing.com.

But the heightened risk of inflation and a global slowdown is expected to dominate this week's annual spring meetings of the International Monetary Fund and the World Bank in Washington.

On Friday, the US government reported that consumer-level inflation climbed to 3.3 percent in March, the highest since May last year.

"The stagflation word is being widely aired once again as geopolitical turmoil threatens to stymie international growth and stoke inflationary pressures," said Russ Mould, investment director at AJ Bell.

Asian and European markets ended the day mostly lower.

"Reopening the Strait of Hormuz remains the key requirement for reigniting a sustainable rally across risk assets," said David Morrison, an analyst at Trade Nation.

"Yet there's also a conviction, rightly or wrongly, that the war will end relatively soon," he said, noting that oil futures contracts for deliveries later this year are currently priced well below current market prices.

"As far as oil traders are concerned, this war may be in its seventh week, but it should be resolved by summer," Morrison said.

But Chancellor Friedrich Merz warned Monday that Germany, Europe's biggest economy, would feel the effects of the energy shock from the war "for a long time to come, even after it is over", as his government announced relief measures including a fuel-tax cut.

In Hungary, stocks rallied five percent after conservative Peter Magyar won a thumping majority in parliamentary elections Sunday, ousting Prime Minister Viktor Orban after 16 years in power and opening the way to improved relations with the European Union.

Economists at ING said that alongside economic reforms, Hungary's new pro-Europe government could set a target date for adopting the euro.

"If timed perfectly, this could boost market confidence and give the Tisza party more time to work on the Hungarian economy with some tailwinds," they wrote in a research note.

- Key figures at 2040 GMT -

Brent North Sea Crude: UP 4.4 percent at $99.36 a barrel

West Texas Intermediate: UP 2.6 percent at $99.08 a barrel

New York - Dow Jones: UP 0.6 percent at 48,218.25 (close)

New York - S&P 500: UP 1.0 percent at 6,886.24 (close)

New York - Nasdaq Composite: UP 1.2 percent at 23,183.74 (close)

London - FTSE 100: DOWN 0.2 percent at 10,582.96 (close)

Paris - CAC 40: DOWN 0.3 percent at 8,235.98 (close)

Frankfurt - DAX: DOWN 1.3 percent at 23,742.44 (close)

Tokyo - Nikkei 225: DOWN 0.7 percent at 56,502.77 (close)

Hong Kong - Hang Seng Index: DOWN 0.9 percent at 25,660.85 (close)

Shanghai - Composite: UP 0.1 percent at 3,988.56 (close)

Euro/dollar: UP at $1.1761 from $1.1723 on Friday

Pound/dollar: UP at $1.3507 from $1.3462

Dollar/yen: UP at 159.41 yen from 159.27 yen

Euro/pound: FLAT at 87.08 pence

That has also come amid a trade standoff with the United States that played a role in last year's growth reading coming in at its lowest level in decades. Still, analysts expected the economy to have expanded 4.8 percent in the first quarter of this year, up from 4.5 percent in the final three months of 2025, according to the median forecast of an AFP survey before official results are published Thursday.

That is at the top end of the 4.5-5.0 percent target set by officials last month, though that figure is the lowest since 1991, excepting 2020 during the pandemic. Sarah Tan of Moody's Analytics told AFP the headline economic growth in the range targeted by Beijing "masks underlying imbalances, with external demand driving growth as domestic momentum remains weak". China's trade surplus last year reached an eyewatering $1.2 trillion, the largest on record.

The boom in shipments offers a key lifeline for Beijing, while persistent woes in the vast domestic real estate market weigh on investment and consumer moods. Dan Wang, a director on the Eurasia Group's China team, told AFP that "global dependence on Chinese exports increased (since the war) as China's full supply chain and energy security are less affected than other industrial nations".

Skyrocketing oil prices have also boosted demand overseas for Chinese electric vehicles, with official data last week showing shipments of those and hybrids rose 140 percent year-on-year in March. "China's exports of green technology and products got a lift" last quarter, Gene Ma, Head of China Research at the Institute of International Finance, told AFP. While figures Tuesday pointed to a slowdown in shipments last month, the surge in exports held up in the first quarter -- despite the Iran war, which "seems to be doing little to dent exports", wrote Zichun Huang of Capital Economics in a report on Friday.

Critical to withstanding pressure from the Middle East war is a long-term push by Beijing to ensure energy security, which experts say is now bearing fruit. "China is unlikely to face significant direct impacts from the Middle East conflict," Sarah Tan of Moody's Analytics told AFP. While China relies on oil imports, "it mitigates this exposure through diversified suppliers, ties with Iran, substantial strategic reserves and continued reliance on coal", she said.

Still, analysts warn that prolonged disruption from the Middle East war could eventually present hurdles. "If the war triggers a broad global slowdown... China's exports will suffer too," wrote Macquarie economists Larry Hu and Yuxiao Zhang in a recent report. "In that case, Beijing will step up domestic stimulus to offset the external shock, so that they can still hit this year's growth target," they wrote.

Chinese leaders have battled weak domestic consumption since the end of the Covid-19 pandemic. The slump comes as economists argue that the country must shift towards a model powered more by household spending than construction and exports -- long the key growth drivers. Soaring energy costs caused by the Middle East war ended a three-year deflationary streak for the country's factory gate prices, data showed last week.

But Sheana Yue, senior economist at Oxford Economics, told AFP that "this type of energy-driven cost-push inflation is unlikely to generate sustained reflationary pressures without meaningful demand recovery". A top concern is the years-long debt crisis in China's massive property sector, which began in 2020 and has spooked consumers.

Once a key storage of wealth, home prices across the country have stagnated, dissuading would-be buyers from investing. "Consumption can't recover until property does," Derek Scissors, a senior fellow at the American Enterprise Institute, told AFP. Until then, any improvement in official retail sales data "will be minor", he said.

"Today's outcome helps bring much-needed stability for our producers to thrive in Europe". Under the deal, which follows a proposal put forward by the European Commission last year, import tariff-free quotas will be reduced to 18.3 million tons a year -- the total volume of steel the EU imported in 2013. That year was chosen because the EU considers the market became unbalanced from that point on because of excess production -- mainly due to China, which massively subsidises local steelmakers and now produces more than half the world's steel.

The new measures will apply to imported products from all countries, except for European Economic Area members Iceland, Liechtenstein and Norway. They will replace the current safeguard scheme, which imposes 25-percent duties beyond set import quotas but ends at the end of June. The deal is provisional and needs to be officially endorsed by the European Council representing member states and the parliament before it is formally adopted.

BPCCI Advisor Humayun Rashid presented the roadmap. It emphasizes strengthening cooperation in the sectors of agro-processing, tourism, and healthcare. The goal is to further advance economic relations between the two countries by increasing institutional coordination in these sectors. Identifying several potential sectors in the roadmap, Humayun Rashid said increasing cooperation in these areas would accelerate skill exchange, joint investment, and sustainable growth. Three sectors, agro-processing, tourism and connectivity, and healthcare and skills development, have been prioritized for the proposed economic corridor.

Focusing on these sectors, the roadmap discusses strengthening partnerships, technology exchange, and increasing joint initiatives between the two countries. It expresses hope that both the business communities and people of the two countries will benefit. The Philippine Ambassador highlighted the growing friendly relations and broad partnership between Bangladesh and the Philippines.

On the occasion of the 55th anniversary of diplomatic relations between the two countries next year, she reaffirmed the commitment to further strengthen trade, investment, and development cooperation.

The Expo was part of the “Partnerships for a More Tolerant and Inclusive Bangladesh (PTIB)” project, jointly implemented by UNDP and the ICT Division’s Bangladesh Computer Council (BCC), with support from Norway. Through the project, young innovators developed technology-based solutions addressing key governance challenges, aligned with national priorities on democratic accountability, rule of law, human rights, women’s safety, and digital inclusion.

Quazi Anowar Hossain, secretary of the Information and Communication Technology Division under the Ministry of Posts, Telecommunications and Information Technology, emphasized the importance of integration and accessibility: “These apps should not remain isolated. They need to be brought together under an open platform and made accessible in multiple languages to ensure wider usability.” Highlighting the international significance of the initiative, Håkon Arald Gulbrandsen, ambassador of Norway to Bangladesh, emphasized the role of youth, saying, “I am very pleased to see the youth ecosystem actively contributing to the growth of Bangladesh’s civic tech sector.”

Sonali Dayaratne, deputy resident representative of UNDP, stated “Seeing small actions evolve into real services from prototypes to practical implementation makes me happy. It is inspiring to witness solutions that directly address practical life challenges.” Md. Abu Sayeed, executive director of the Bangladesh Computer Council, underlined the broader vision of the initiative and  said, “This project is fundamentally focused on digital literacy. We are very happy to see how it aligns people more closely with governance and strengthens their engagement in the digital space.”

During the Expo, youth-led teams demonstrated solutions including AI-based legal information platforms, tools to counter misinformation, citizen feedback systems for public policies, and digital applications to improve public services and environmental sustainability. Several of these solutions show strong potential for integration into public systems. The event concluded with the handover of innovation grants to top solutions, reinforcing collaboration between youth, government, and development partners. The Expo marks an important step toward transparent, citizen-centric governance and inclusive digital transformation in Bangladesh.

The extension applies to all entities whose income year ended on June 30, 2025, according to the order signed under the relevant provisions of the Income Tax Act, 2023. Earlier, the deadline for submitting these tax returns was set to expire on April 15, 2026.

Although market indices opened on a positive tone, the momentum swiftly lost traction as jittery investor sentiment triggered broad-based sell-offs, reflecting a lack of confidence across the trading floor. As the session progressed, selling pressure intensified in large-cap stocks, ultimately dragging the broad index to close in negative territory. Market turnover decreased by 5.2 per cent to Taka 7.9 billion from Taka 8.3 billion in the previous session. On the sectoral front, Engineering (16.6pc) accounted for the highest share of turnover, followed by Pharma (11.3pc) and General Insurance (11.1pc) sectors.

Sectors displayed mixed returns, out of which Mutual Fund (1.8pc), Ceramic (0.7pc) and Paper (0.7pc) exhibited the most positive returns, while Life Insurance (-1.6pc), Bank (-1.4pc) and General Insurance (-1.4pc) displayed most correction on the bourse today. Of the 397 issues traded, 124 advanced, 209 declined, and 63 remained unchanged. The port city bourse, CSE, also settled on a negative territory. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) lost 23.4 points and 41.5 points, respectively.

The meeting focused on strategic planning to make the capital market more investment-friendly and to attract new investors.  Ma Ben, Vice President of CEAB, led the Chinese delegation, while Nuzhat Anwar, Managing Director of DSE, welcomed the group and outlined the exchange's vision for modernization. During the discussions, Nuzhat Anwar emphasized that the DSE is currently prioritizing market development and effective transformation. 

She revealed that a new strategy is being formulated to define the future direction of the market, with a particular focus on engaging Chinese companies to achieve mutual goals.  Nuzhat Anwar further noted that China is expected to play a vital role as a partner in the DSE’s upcoming five-year development plan. To facilitate this, the DSE management offered to provide personalized assistance to interested Chinese companies regarding the listing process and investment procedures.

CEAB Vice President Ma Ben highlighted the expanding influence of Chinese enterprises in the country, noting that the association now represents over 250 members. These companies are active in critical sectors including trade, infrastructure, information technology, energy, and logistics. Ma Ben pointed out the significant contributions of Chinese firms to Bangladesh’s national development through projects such as power plants, tunnels, bridges, expressways, and sewage treatment plants.

 He expressed optimism that 2026 would be a landmark year for opening "new horizons" in bilateral economic and commercial cooperation. Representing the DSE alongside the Managing Director were Chief Operating Officer Mohammad Asadur Rahman, Chief Technology Officer Dr. Md. Ashifur Rahman, and Chief Financial Officer Md. Adib Hossain Khan. Following the formal meeting, the CEAB delegation toured the DSE Tower’s multipurpose hall and Training Academy.

The delegation, led by BGMEA President Mahmud Hasan Khan, included First Vice-President Selim Rahman and Vice-President (Finance)Mizanur Rahman. Energy Secretary Mohammad Saiful Islam was also present at the meeting. During the meeting, the BGMEA President said that although buyer confidence has started to restore following the recent general election, the ongoing Middle East conflict has once again posed challenges to the global market. 

He noted that neighboring countries are ahead in energy security, and the current energy situation triggered by the conflict has put Bangladesh’s garment industry in a vulnerable position, said a BGMEA press release here. He further informed that due to insufficient gas and electricity supply, production capacity in factories has declined by 25–30 percent.  

To address the situation, the BGMEA delegation placed several key proposals, including: Emergency fuel supply: Ensuring prompt diesel supply to garment factories from nearby filling stations under special arrangements. Gas connection and distribution: Providing urgent gas connections, especially for small and medium industries (with boiler capacity of 300–500 kg), and ensuring equitable gas distribution across industrial zones surrounding Dhaka.

Infrastructure development and automation: Installation of at least two additional Floating Storage Regasification Units (FSRUs) at the earliest and simplification of the process for installing EVC meters in industries. Tax and duty reduction: Withdrawal of import duties and consumer-level taxes on imported fuel to reduce production costs and lessen the government’s subsidy burden.

The meeting also emphasized the importance of renewable energy. BGMEA requested special tariff concessions on the import of solar PV system components to promote environmentally sustainable industrialization. The association proposed reducing the existing high duties (ranging from 28.73 percent to 61.80 percent) on essential equipment such as solar panels, inverters, DC cables, and Battery Energy Storage Systems (BESS) to 1 percent

The Minister and State Minister listened attentively to the proposals and assured that necessary steps would be taken considering the vital contribution of the RMG sector to the national economy.  They also acknowledged BGMEA’s proposed format to facilitate emergency diesel supply from nearby filling stations.

A day before speaking to AFP, Garcia said he had been forced to raise the price of a bowl of pares to 65 pesos ($1.08) after fuel costs reduced his daily earnings by a quarter. "I'm only earning 1,500 pesos (per day), because the rest is spent on LPG," he said. Garcia, who begins cooking at 3 am every morning before hauling his stew to a middle-class neighbourhood on a converted motorbike, said an 11 kilo tank of fuel, which typically lasts four days, that once cost 870 pesos (about $14.50) now costs 1,600 pesos.

"It's the highest price of LPG that I've ever seen since I started here," said Carlo Manalad, a supervisor at a store selling tanks of the gas, 90 percent of which is imported. "If (our suppliers') prices are high, we also raise our prices. Our profit is still the same," the 64-year-old told AFP. Many of the capital's streetside food sellers, however, have no such luxury. "If we raise our prices, our customers will buy from other stalls," said Ronilo Titom, who has run a curbside canteen that caters call centre workers and jeepney drivers, for two years.

Even while holding the line on prices, Titom said he had noticed his customer base slowly shrinking since the war erupted. "Many of them have started to bring packed lunches instead (to save money)," said the 48-year-old who, like Garcia, is using his LPG ever more judiciously. "Sometimes we let the soup get cold," he admitted, noting that the cost of ingredients for his dishes had also been on the uptick since the war broke out.

The Philippines revealed Tuesday war-driven inflation figures that showed food prices had increased nearly twice as fast in March as the month before. French fry vendor John Mark Abella, 25, who has also upped his prices by five pesos to compensate for LPG costs, told AFP he believed inflation was putting the squeeze on his mostly student customers. "I think we've got fewer customers ... because they're limiting their expenses because of the high prices of fuel and food," he said.

Sam Natividad, a 25-year-old call centre worker, said that was no illusion. "I'm limiting my expenses because... I also have to pay bills at home. I don't have a big budget for my meals here," she told AFP at a roadside canteen, adding it was "understandable" if street vendors had to raise their prices. Near Garcia's pares stall, Allan Palong, a driver for a motorbike ride-hailing app, said he understood the vendor's need to charge five pesos more for a bowl of stew, even if his own earnings were being crippled by fuel price hikes.

"It's very difficult for us now, all prices have gone up ... the five-pesos mean a lot," he said, while calling on the government to slash the excise tax on imported fuel. "What they're doing is not enough... we can't feel it."

Addressing the closing ceremony as the chief guest, ICC Bangladesh President Mahbubur Rahman highlighted that current global economic uncertainties have escalated risks such as fraud and malpractice in international trade. He warned that the chances of recovering losses from such incidents are often limited, making it essential for bankers, exporters, and importers to understand and prevent modern fraud techniques. Mahbubur Rahman noted that maritime trade remains a cornerstone of economic growth, but rising maritime incidents threaten both seafarers and the stability of global supply chains.

He stressed that ensuring safe passage at sea requires sustained cooperation among regional and international partners to safeguard maritime commerce. The workshop underscored that financial crime is evolving, with fraud and data security threats emerging through diverse channels. While all stakeholders-including consumers and merchants-play a role, the responsibility of financial institutions is the most critical. Mahbubur Rahman urged bankers to adopt latest detection and prevention technologies to mitigate risks before significant damage occurs. A total of 88 participants from 23 banks, including the central bank, along with two participants from the Bangladesh Institute of Bank Management (BIBM), attended the workshop in the city. A similar workshop was held in Chattogram on April 12 (today), attended by 56 participants from 19 banks, including the central bank, along with 18 clients sponsored by Eastern Bank, Mutual Trust Bank and Prime Bank.

After witnessing volatility through mid-session with investors’ participation from both sides of the trading fence, the market gained traction in the latter half as buyers assumed control through the session’s close. Moreover, insurance stocks also gained positive momentum owing to the buying appetite of short-term gain-focused investors ahead of anticipated earnings declarations. Apparently, market turnover increased by 7.8% to Taka 8.4 billion from Taka 7.8 billion in the previous session. On the sectoral front, General Insurance (14.2%) accounted for the highest share of turnover, followed by Engineering (13.7%) and Pharma (11.8%) sectors.

 Sectors mostly displayed mixed returns, out of which General Insurance (4.3%), Life Insurance (1.3%) and IT (1.0%) exhibited the most positive returns, while Services (-1.1%), Telecom (-1.0%) and Financial Institution (-0.6%) displayed the most corrections on the bourse today. Of the 397 issues traded, 185 advanced, 136 declined, and 75 remained unchanged. The port city bourse, CSE, also settled on a positive territory. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) declined by 9.8 points and 0.9 points, respectively.

During the discussion, both sides expressed optimism about further strengthening bilateral relations between Bangladesh and Saudi Arabia, particularly through enhanced cooperation in the tourism sector. Highlighting Bangladesh's growing aviation market, the state minister drew attention to the potential for operating flights not only from Dhaka but also from Sylhet and Chattogram, urging Saudi authorities to consider broader connectivity.

The minister underscored the need to further improve service standards of Saudi airlines for Bangladeshi passengers. In response, the ambassador assured that necessary steps would be taken to enhance the quality of services in a prompt manner.

The directive, effective immediately, is aimed at maintaining a natural and smooth flow of cash transactions for the public. The central bank clarified that while the exchange service must be provided for notes of various denominations, banks must place special emphasis on small denominations, specifically Tk 5, 10, 20, and 50.  To facilitate this and avoid public harassment, all bank branches are required to utilize special counters to receive these notes and provide exchange value through fresh or re-issuable notes.

- US inflation surges -

Inflation in the United States rose sharply in March, government data showed, as higher energy prices due to the war in the Middle East hit Americans hard.

Prices rose 3.3 percent year-on-year in March, much faster than the 2.4 percent registered in February. Gasoline prices alone surged 21.2 percent between February and March -- the largest monthly increase since the government began publishing a related index in 1967.

- Stocks rise, oil steady -

Stocks rose and oil was steady as investors remained guardedly optimistic about the US-Iran ceasefire ahead of planned weekend talks.

European indices were up about half a percent in late afternoon trading, with prices on Wall Street also up but by not as much.

Brent and West Texas Intermediate were hovering under $100 a barrel.

- Lebanon faces food shortages -

The United Nations warned Friday that food insecurity was on the rise in Lebanon, with prices surging and supply chains disrupted as Israel has continued military strikes on the country.

The UN's World Food Programme (WFP) said the entire food system in Lebanon was reeling from the conflict, with Israel launching its heaviest strikes on the country this week.

- Total refinery shut -

French energy giant TotalEnergies said it had shut down a major refinery in Saudi Arabia after it was damaged during the war.

The Saudi energy ministry said there had been "multiple attacks" recently on its oil and gas sites, including the SATORP refinery, a joint venture of TotalEnergies and the Saudi state-owned Aramco group.

No details on production impacts, nor the type of attack, were disclosed.

- EU considers windfall tax -

The EU said it was looking into calls for a tax on windfall profits of energy companies to respond to the surge in prices caused by the Iran war.

The finance ministers of Spain, Austria, Germany, Italy and Portugal urged Brussels take the measure to ease the burden on consumers in a letter published last week.

- Ireland to meet farmers -

The Irish government was set to hold talks Friday with agricultural and haulage representatives, as days of protests over spiralling fuel prices sparked warnings over supplies, including for emergency services.

The demonstrations began Tuesday over the soaring cost of petrol and diesel amid the Middle East war, with protesters partly blocking Ireland's only oil refinery and restricting access to at least two other fuel depots.

- IMF warns of 'scarring effects' -

The International Monetary Fund will lower global growth forecasts because of the war, said managing director Kristalina Georgieva, warning of the conflict's "scarring effects" despite the fragile ceasefire.

Georgieva said the IMF expected to have to provide up to $50 billion in immediate financial assistance to countries affected by the war.

She added that food insecurity because of transport and supply chain disruptions caused by the war was expected to affect at least 45 million people and "even in a best case, there will be no neat and clean return" to the way things were before the conflict.

Markets had anticipated the surge, according to the consensus published by MarketWatch. The United States and Israel began bombing Iran on February 28 and Tehran retaliated by blocking traffic in the Strait of Hormuz, a waterway used to carry a fifth of the world's oil and gas deliveries. Despite being the world's top producer of crude oil, the United States also felt the pain, as prices at the gas pump shot up.

A gallon (3.78 liters) of regular gasoline currently costs an average of $4.15 in the United States, compared to approximately $3 just before the war. The Trump administration -- elected in part on a promise to quash inflation -- maintains that the war's economic disruptions will be temporary. Reacting to the data, White House spokesperson Kush Desai said the US economy "remains on a solid trajectory." Economic advisor Kevin Hassett claimed some wins for the White House, citing drops in the price of eggs, beef and concert tickets on Fox News.

US Vice President JD Vance said he hoped for a "positive" outcome as he departed Washington for US-Iran peace talks in Pakistan this weekend. But experts predicted more economic pain ahead due to the war in Iran, especially for middle and lower-income households already squeezed by rising energy and airfare prices. Heather Long, chief economist at Navy Federal Credit Union, said that inflation soared in March to the highest level in almost two years.

"This is only the beginning. Food prices, travel and shipping costs are all going up in April and will exacerbate the pain," she said. "March CPI was as expected, so no surprises. But there is a huge increase in fuel prices, boosting inflation," Christopher Low of FHN Financial told AFP. "And we got the news last night that the ceasefire is not being honored by either side, apparently," he said. "There's still very little traffic through the Strait of Hormuz."

Some economists calculate the oil price surge will cost each US household at least $350 per household. Consumer sentiment also dipped sharply -- 11 percent -- this month, according to a University of Michigan survey. During the Federal Reserve's most recent meeting in mid-March, Chairman Jerome Powell said that the war risked delaying efforts to bring inflation under control in the United States. The US central bank's target for inflation is two percent -- an objective it has not met in five years due to the Covid pandemic, the war in Ukraine and tariffs.

A cloud of uncertainty hung Friday over the scheduled start of talks in Pakistan this weekend to turn a shaky two-week truce into a lasting accord that would reopen the key Strait of Hormuz.

But there has been no announcement yet on the arrival of negotiators and both sides have accused the other of failing to properly implement the ceasefire.

"Investors remained cautious as they kept a close eye on developments surrounding the fragile ceasefire between the US, Israel and Iran," said David Morrison, an analyst at Trade Nation, adding that investors were pausing "to catch their collective breath heading into the weekend".

The main international oil contracts were up around one percent, holding just under $100 a barrel even as only a trickle of tankers have so far transited the Strait of Hormuz, where a fifth of the world's oil passes in normal times.

Some two hours into trading on Wall Street the main US indices were mixed as the Dow stood off 0.3 percent while the broader S&P 500 and the tech-heavy Nasdaq were barely in the green.

In Europe, London and Frankfurt closed virtually flat as Paris added 0.2 percent.

New York shares had rebounded late Thursday on news that Israel and Lebanon had agreed to talks, upping the chances for the ceasefire after five weeks of fighting.

But despite this week's rebound, stock markets remain lower and oil prices significantly higher than before the war -- though oil was flat Friday after weeks of gyrations.

Investors were also watching US inflation and the prospects for interest rates in the world's largest economy as the Gulf war sends economic shock waves through myriad sectors.

US consumer prices rose 3.3 percent in March from a year earlier, according to data released Friday, and while that was up sharply from the previous month as gas prices surged, it was below what some economists expected.

White House spokesperson Kush Desai responded by saying the US economy "remains on a solid trajectory."

Core inflation, which strips out volatile categories like food and energy, rose 2.6 percent from a year ago, again lower than what some analysts had feared.

A higher rate might have ruled out any interest rate cuts from the Federal Reserve for several months.

"Although core inflation was seemingly subdued in March, the concern is that the energy price shock will bleed through more to core inflation in April," said Patrick J. O'Hare, an analyst at Briefing.com.

- Key figures at around 1545 GMT -

Brent North Sea Crude: UP 1.0 percent at $96.89 a barrel

West Texas Intermediate: UP 0.9 percent at $98.76 a barrel

New York - Dow Jones: DOWN 0.3 percent at 48,025.82 points

New York - S&P 500: UP 0.1 percent at 6,832.44

New York - Nasdaq Composite: UP 0.5 percent at 22,939.17

London - FTSE 100: FLAT at 10,600.53 (close)

Paris - CAC 40: UP 0.2 percent at 8,259.60 (close)

Frankfurt - DAX: FLAT at 23,803.95 (close)

Tokyo - Nikkei 225: UP 1.8 percent at 56,924.11 (close)

Hong Kong - Hang Seng Index: UP 0.6 percent at 25,893.54 (close)

Shanghai - Composite: UP 0.5 percent at 3,986.22 (close)

Euro/dollar: UP at $1.1728 from $1.1707 on Thursday

Pound/dollar: UP at $1.3463 from $1.3441

Dollar/yen: UP at 159.19 yen from 159.06 yen

Euro/pound: UP at 87.11 pence from 87.09 pence

On Thursday, Ecuador hiked tariffs on Colombian goods from 50 percent to 100 percent, prompting Petro to recall his ambassador to Bogota. Colombia has imposed reciprocal tariffs every time Ecuador has raised tariffs since the start of the year, going from an initial 30 percent to 100 percent. But Petro specified Friday afternoon that some materials essential to Colombian industrial production will have "zero percent tariff," in an X post.

"We have exhausted all diplomatic efforts," Colombian Commerce Minister Diana Morales said in a statement. The simmering tensions between the two Andean nations intensified this week after Petro called former Ecuadorean vice president Jorge Glas a "political prisoner." Glas, in office from 2013 to 2018 during the presidencies of leftist Rafael Correa and then Lenin Moreno, was sentenced last year to 13 years in prison for corruption.

Glas alleges he has experienced cruel and degrading treatment in prison, where he has been held since November. Petro also raised the possibility of Colombia withdrawing from the Andean Community of Nations (CAN), a bloc that includes Peru, Bolivia and Ecuador, on Thursday. CAN facilitated a meeting of diplomatic delegations from both countries on Friday to encourage dialogue. Colombia's main legal exports to Ecuador are electricity, medicines, vehicles, cosmetics and plastic products, while it imports vegetable fats and oils, canned tuna, minerals and metals, according to trade associations.

Additionally, about 70 percent of the cocaine produced in Colombia and Peru, the world's largest producers, transits through Ecuador for export via its Pacific ports. Once a haven of peace, Ecuador is now torn apart by infighting between criminal groups, leading to a rise in homicides in the country.

The measures are intended to "protect vulnerable groups of people and prevent the situation from spreading to other sectors", Finance Minister Ekniti Nitithanprapas said. Farmers and small business owners will also be able to benefit from preferential-rate loans, as will people wishing to buy electric vehicles or install solar panels.

The government has also approved subsidies for transport operators, ahead of Thai New Year or "Songkran" celebrations. "This challenge will be long term. Therefore, we are not only implementing short-term measures but also preparing the public and entrepreneurs to adapt to potentially higher energy and product costs," Ekniti added.

"Rajshahi silk is not just an industry; it is part of the country's heritage and pride," the state minister said, adding that the government is working to revive the sector through modern technology, research and training. He said the visit was aimed at assessing field-level challenges and identifying necessary steps to rejuvenate the industry. Highlighting its historical background, Shariful Alam noted that the Rajshahi Silk Board was established in 1977 under the leadership of former President Ziaur Rahman. He added that former Prime Minister Khaleda Zia also undertook various initiatives to support the board.

Under the guidance of Prime Minister Tarique Rahman, the government has now set a target to modernise the industry further through research and innovation, he said. The state minister said the country currently requires 400 to 450 metric tonnes of silk annually, but nearly 90 percent of the demand is met through imports due to the decline of local factories. To address this, the government is prioritising research to improve sericulture practices, develop mulberry cultivation and enhance the quality of silk yarn, he added.

Shariful Alam also voiced concern over the declining number of traditional artisans, locally known as 'Bosnis'. He said there are around 11,500 Bosnis in the country, but their numbers are gradually decreasing due to ageing. "If the next generation is not trained, there is a risk that this heritage could be lost," he warned.

He further said the government plans to reopen closed factories, expand market access and attract both local and foreign investment, noting strong export potential in markets such as China and Japan. Earlier, Director General of the Bangladesh Silk Development Board Md Toufiq Al Mahmud presented an overview of the board's activities. Among others present were Textiles and Jute Ministry Secretary Bilkis Jahan Rimi, Rajshahi Zilla Parishad Administrator Advocate Ershad Ali, Rajshahi Deputy Commissioner Kazi Shahidul Islam and senior officials.

President Donald Trump has set a Tuesday deadline for Iran to end the war and reopen shipping in the critical Strait of Hormuz waterway, threatening in an expletive-laden social media post Sunday to strike the country's power plants and bridges if it did not comply. "Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!!" Trump wrote on his Truth Social platform, before later telling Fox News he thought there was a "good chance" Iran would agree to a deal on Monday.

The war, entering its sixth week since the US and Israel first attacked Iran on February 28, has engulfed the Middle East in conflict and upended the global economy. Iran has virtually blocked the Strait of Hormuz, through which about 20 percent of the world's oil and gas transits, sending petroleum prices skyrocketing.

Many Asian markets were closed for public holidays, but stocks in Tokyo and Seoul rose, while movements on other open exchanges were mixed.

"Geopolitical risks remain the dominant driver of market sentiment," MUFG's Lloyd Chan said in a note on Monday.

US President Donald Trump had made an expletive-laced threat Sunday to destroy Iran's civilian infrastructure, demanding Tehran bow to his demands for a deal to reopen the Gulf to shipping.

Hours later, Iran's central military command warned of "much more devastating" retaliation if its adversaries hit civilian targets.

Chan said "it remains to be seen whether this escalatory rhetoric ultimately proves to be another 'TACO' moment" -- a jokey acronym for "Trump always chickens out".

But "the persistence of threats to critical Iranian infrastructure keeps escalation risks elevated, with no credible de-escalation path in sight", Chan said.

"As a result, oil prices are likely to remain elevated."

Crude oil prices spiked at the week's market opening but pared gains in morning trade. US benchmark West Texas Intermediate was flat at $111.61 a barrel and North Sea Brent crude gained 1.2 percent to $110.35.

"Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!!" Trump wrote on his Truth Social platform, later telling Fox News there was a "good chance" Iran would agree to a deal.

The tumultuous developments are keeping Asian currencies under pressure while "reinforcing a bias toward USD strength", Chan wrote. Gold prices also fell Monday.

Tokyo was up 1.6 percent and Seoul gained 2.2 percent. Singapore was also up 0.4 percent, but Jakarta shed 0.6 percent.

Chinese markets were closed for the Qingming Festival while others, including Sydney and Wellington, took a break for Easter Monday.

The war, entering its sixth week since the US and Israel first attacked Iran on February 28, has engulfed the Middle East in conflict and upended the global economy.

Iran has virtually blocked the Strait of Hormuz, through which about 20 percent of the world's oil and gas transits, sending petroleum prices skyrocketing.

- Key figures at around 0230 GMT -

Tokyo - Nikkei 225: UP 1.6 percent at 54,001.64 (break)

Hong Kong - Hang Seng Index: CLOSED for holiday

Shanghai - Composite: CLOSED for holiday

Euro/dollar: DOWN at $1.1522 from $1.1535 on Friday

Pound/dollar: DOWN at $1.3214 from $1.3224

Dollar/yen: DOWN at 159.57 from 159.63

Euro/pound: DOWN at 87.19 pence from 87.22 pence

West Texas Intermediate: FLAT at $111.61 per barrel

Brent North Sea Crude: UP 1.2 percent at $110.35 per barrel

New York - Dow: DOWN 0.1 percent at 46,504.67 (close)

London - FTSE 100: UP 0.7 percent at 10,436.29 (close)

Speaking to journalists after the meeting, FBCCI Secretary General Md Alamgir said the EDF, created to support exporters, has significantly declined in size. "Previously, the EDF stood at around $7 billion, but it has now come down to nearly $2.2 billion. We did not propose increasing it to $5 billion at once; rather, we suggested that the fund be expanded gradually," he said.

Alamgir also said the FBCCI urged the central bank to reduce the bank rate to ease business operations, stressing the importance of maintaining a stable exchange rate. Referring to the governor's remarks, he said there is little likelihood of an increase in the US dollar rate, as banks currently have adequate dollar liquidity. He also expressed optimism that US dollar inflows would remain strong in the near future.

Regarding lending limits, he said the current single borrower exposure limit stands at 15 percent, and the FBCCI proposed raising it to 25 percent to facilitate larger financing for businesses. He further emphasised the need to protect borrowers who have taken loans from Sammilito Islami Bank, noting that businesses must remain operational to ensure loan repayment.

Md Tanvir Hossain, Executive Director (Investment Promotion) of BEPZA, and Mr Jin Ho Bae, Chairman of PH Creative (BD) Ltd., signed the agreement on behalf of their respective organizations. Major General Mohammad Moazzem Hossain, ndc, afwc, psc, G, MPhil, Executive Chairman of BEPZA, witnessed the signing ceremony.

PH Creative (BD) Ltd. will manufacture a wide range of products including steel, aluminum and iron frames; fiberglass poles; tents; sleeping bags; camping chairs; and various tent accessories such as PVC wear covers, caps, chair patches, hangers and hammers. The company will also produce trolley bags, handbags, and garment accessories including toggles and beads. The project is expected to create employment opportunities for around 2,000 Bangladeshi nationals. 

In his remarks, BEPZA Executive Chairman thanked PH Creative (BD) Ltd. for choosing Bangladesh, particularly the BEPZA Economic Zone, as their investment destination. He also encouraged the company and other South Korean investors to explore further investment opportunities in high-tech sectors, especially in semiconductors and electronic products. The signing ceremony was attended by -- Abdullah Al Mamun, Member (Engineering) , A N M Foyzul Haque, Member (Finance) , Md Khorshid Alam, Executive Director (Enterprise Services) , Samir Biswas, Executive Director (Administration) , A.S.M. Anwar Parvez, Executive Director (Public Relations) , along with senior officials of BEPZA and representatives of the company.

Although the market opened on a positive note, adding nearly 75 points within the first 30 minutes of the session, morning optimism faded gradually with the market encountering a bout of selling pressure that briefly reversed the move and dragged the indices back toward flat territory. Meanwhile, market turnover decreased by 8 per cent to Taka 4.7 billion from Taka 5.1 billion in the previous session. On the sectoral front, Pharma (15.1pc) accounted for the highest share of turnover, followed by Engineering (13.8pc) and General Insurance (10.pc) sectors.

Sectors mostly displayed mixed returns, out of which Cement (0.6pc), Mutual Fund (0.6pc) and Bank (0.5pc) exhibited the most positive returns, while IT (-0.8pc), Jute (-0.6pc) and Telecom (-0.4pc) displayed the most corrections on the bourse today. Of the 397 issues traded, 148 advanced, 171 declined, and 77 remained unchanged. The port city bourse, CSE, also settled on a positive territory. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) declined by 6.6 points and 8.3 points, respectively.

He highlighted that the current monetary environment, characterized by high policy rates and a widening spread, has made financing increasingly expensive and less accessible for manufacturing industries and Small and Medium Enterprises (SMEs). To stimulate recovery, the DCCI advocated for a gradual lowering of the policy rate to reduce borrowing costs. Alternatively, the Chamber pressed for the provision of subsidised loans specifically targeted at priority sectors, including manufacturing and export-oriented SMEs.

The Chamber expressed significant concern regarding the recent tightening of loan classification rules, which reduced the grace period from nine months to three months. President Taskeen Ahmed maintained that this shift, combined with energy shortages and weak demand, has placed unsustainable pressure on legitimate businesses. "Considering these challenges, the central bank should reconsider loan rescheduling facilities for unintentional defaulters and extend the loan classification period to at least six months," Ahmed stated during the discussion.

Responding to the Chamber's concerns, Governor Md. Mostaqur Rahman, FCMA, observed that the national economy has become over-dependent on a limited range of products and export markets. He maintained that prioritizing the Cottage, Micro, Small, and Medium Enterprise (CMSME) sector and agricultural management is the only viable path to stimulating the domestic economy and generating employment. Addressing the persistence of high inflation, the Governor attributed the trend to elevated costs in logistics and product management, emphasizing that everyone must work together to remove these obstacles to ensure price stability.

He linked the need for policy reform directly to the nation's ability to compete for capital. "In recent years, our GDP growth rate has not been satisfactory, which has left us behind in attracting both foreign and domestic investment. To overcome this, there is no alternative to reforming business and trade policies and easing the cost of business," he added. The BB Governor assured the DCCI leadership that the central bank remains committed to fostering an environment conducive to sustainable industrial growth while managing inflationary pressures. The meeting was attended, among others, by DCCI Senior Vice President Razeev H Chowdhury, Vice President Md. Salem Sulaiman and members of the DCCI Board of Directors alongside senior officials of Bangladesh Bank.

According to port sources, ships carrying fuel products from India, Malaysia, Nigeria, and China have recently arrived at the port. The 'Gas Challenger' with LPG from India arrived on March 31 and is currently in the 'Bhatiyari' area. The 'Shan Gang Fa Xian' carrying gas oil from Malaysia arrived on April 3 and is at the 'DOJ-6' jetty for unloading by April 7.

The 'Cool Voyager' with LNG from Nigeria arrived on April 5 and is being unloaded at the 'FSRU' with completion expected by April 8. The 'Gas Journey' with LPG from China arrived on April 5 and is currently at the 'Charlie' area, with unloading expected to be completed by April 8. Syed Refayet Hamim, Secretary of the Chattogram Port Authority, stated that priority is being given to quickly unloading these fuel products to maintain a steady fuel supply and ensure continuous power generation in the country. It is anticipated that all ships will be unloaded within the scheduled timeframe, providing relief to the country's energy crisis.

The request highlights the growing financial pressure of a conflict now in its fifth week, and sets up a political battle in Congress over how to fund a dramatic expansion of military spending. US media -- citing closed-door congressional briefings -- have reported that the Iran war could be costing as much as $2 billion a day, underscoring the scale of the burden even before longer-term reconstruction and resupply costs are factored in.

To offset part of the increase, Trump is proposing around $73 billion in cuts to non-defense spending -- roughly 10 percent -- "reducing or eliminating woke, weaponized and wasteful programs, and by returning state and local responsibilities to their respective governments." The president has framed the defense budget increase in urgent terms, arguing that military investment must take precedence during wartime, even at the expense of federal social programs.

"It's not possible for us to take care of day care, Medicaid, Medicare," Trump said at a recent private event, adding that such responsibilities could be handled at the state level while Washington focuses on "military protection." Democrats swiftly attacked the proposal, with the party's Senate budget leader Patty Murray warning it prioritized military spending over Americans' needs and accusing Trump of pursuing "reckless foreign wars."

"Donald Trump might be happy to spend more money on bombs in the Middle East than on families here in America -- but I am not," Murray said in a statement. The White House released the request as part of a detailed 92-page budget proposal, alongside summaries outlining its priorities across federal agencies. The plan is not binding but serves as a statement of the administration's priorities as Congress begins drafting spending legislation, with lawmakers retaining the power to rewrite or reject it.

Trump is urging Congress to approve the bulk of the defense budget -- more than $1.1 trillion -- through the standard appropriations process, while seeking to pass a further $350 billion using a party-line mechanism that would not need Democratic support. Republican leaders have shown openness to that approach, particularly as they push for higher defense and immigration enforcement spending.

But the plan may face resistance within Trump's own party, where some lawmakers are wary of deepening federal deficits. The United States is already running annual shortfalls approaching $2 trillion, with total debt exceeding $39 trillion, leaving limited fiscal space for new spending without further widening the gap.

Lawmakers from both parties have also raised concerns about the scale of the proposed military increase, particularly as the administration has provided limited detail on the trajectory of the Iran conflict. There is similar skepticism about the domestic cuts, many of which Congress has previously rejected. Spending bills passed earlier this year largely preserved funding for programs the White House is again seeking to reduce or eliminate.

Beyond defense, the administration is proposing increased funding for federal law enforcement, including a boost of more than $40 billion for the Justice Department. Trump is also asking for $152 million to kickstart his pet project to reopen the notorious San Francisco Bay island prison Alcatraz -- a drop in the ocean compared with the total estimated cost of $2 billion. The budget could add trillions more to the federal debt over the coming decade, but Republicans backed the push, saying the increase would help move US military spending toward five percent of GDP and strengthen deterrence.

Roger Wicker and Mike Rogers, the respective chairmen of the Senate and House armed services committees, praised Trump in a joint statement for "sending a clear signal for our allies and partners to build on recent progress and meet this benchmark alongside us."

The programme fulfils a pledge made last week by Prime Minister Sebastien Lecornu, whose government, like many worldwide, is seeking to contain the economic pain caused by the war's impact on fuel prices. Public investment bank Bpifrance will issue the loans via a streamlined digital process that will make the money available within seven days, the ministry said in a statement.

The three-year loans will have an interest rate of 3.8 percent. Separately, French Economy Minister Roland Lescure said he had written to the European Commission to ask it to investigate whether the continent's refineries were taking advantage of the war to commit "abuses" in setting fuel prices.

- More ships pass Hormuz -

A French-owned and a Japanese-owned vessel are among a handful of ships to have transited the war-torn Strait of Hormuz, maritime tracking data showed Friday.

The passage, a vital route for oil and liquified natural gas, has been virtually blocked by Tehran since US-Israeli strikes on Iran triggered conflict throughout the Middle East.

Both ships made the crossing on Thursday, according to tracking company Marine Traffic.

In addition, three tankers -- including one co-owned by a Japanese company -- crossed the strait on Thursday via an alternative, southern route.

They hugged close to the shore of Oman's Musandam Peninsula, a first in nearly three weeks, according to Lloyd's List.

- UAE gas site fire kills one -

One person was killed and four others wounded after a fire at a gas complex in Abu Dhabi, caused by falling debris from an intercepted attack on Friday, the government media office said.

It also reported "significant damage" at the facilities.

- Italian central bank cuts forecast -

Italy's central bank revised down its growth forecasts due to "sudden energy price hikes" linked to the war.

The Bank of Italy now expects gross domestic product (GDP) to grow by 0.5 percent both this year and next, and then by 0.8 percent in 2028.

It previously forecast 0.6-percent growth in 2026 and 0.8 percent in 2027.

- White House seeks $1.5 tn -

US President Donald Trump asked lawmakers to approve a massive $1.5-trillion defence budget for 2027, as the United States faces rising costs from its war with Iran and mounting global security commitments.

The proposal would increase Pentagon spending by more than 40 percent in a single year -- the sharpest rise since World War II.

- UAE company needs year to restart aluminium -

Emirates Global Aluminium, one of the world's largest aluminium producers, said it could take up to a year to resume full production after an Iranian missile attack damaged its Abu Dhabi site.

Iran has attacked several smelters in the United Arab Emirates and Bahrain since the war began on February 28, saying they play a role in supplying US military.

- Israel re-opens gas field -

Israel resumed operations at its Leviathan offshore major natural gas field.

It had been shut down since the onset of its war with Iran, halting exports to neighbouring Egypt and Jordan.

- Bangladesh cuts office hours -

Bangladesh cut office and shop hours and banned decorative lighting at weddings starting Friday, to conserve energy stocks after price hikes.

Bangladesh imports 95 percent of its oil and gas needs. About 60 percent of its electricity is generated using imported gas, while diesel is primarily used for farming.

- Free bus rides in Pakistan -

State-run public transport in Pakistan's capital and most populous province will be free for the coming month, officials said Friday.

The announcement came hours after a late-night decision to impose a 43-percent rise in the price of petrol and 55 percent on diesel, prompting street protests and long queues at gas stations.

- Food prices rise -

The UN's Food and Agriculture Organization (FAO) said its Food Price Index, which measures the monthly changes in international prices of a basket of food commodities, rose 2.4 percent in March from February due to higher energy and fertiliser costs.

- Australia faces petrol shortages -

Australia's government urged motorists to fill their cars at city petrol stations ahead of any long road trips over the Easter holiday.

Energy Minister Chris Bowen said hundreds of service stations in rural towns had run out of diesel nationally and more than a hundred were without unleaded petrol.

Friday's data significantly beat analyst expectations, with economists polled by Dow Jones Newswires and The Wall Street Journal expecting an increase of 59,000 jobs. The data was stronger than forecast, "but vastly overstates the sustainable pace of job growth," said Oxford Economics lead US economist Nancy Vanden Houten. "The end of a strike, seasonal quirks and a rebound after harsh winter weather likely boosted job growth in some sectors," she said.

Trump touted the numbers as a success. "My Economic Policies have created an enormously powerful engine of Economic Growth, and nothing can slow it down," Trump said on his Truth Social platform, hailing the number of private sector jobs gained. Earlier, White House spokesperson Kush Desai said that once the "short-term disruptions" of the US-Israel war on Iran are over, "America's economic resurgence is set to only accelerate."

Markets were closed Friday in the United States for Good Friday. Much of March's recovery was fueled by health care jobs, which have remained resilient even as labor demand has dropped in other sectors. Health care added 76,000 jobs in March, after having lost jobs the month before, in part due to strike actions. Employment in construction also grew by 26,000 in March, although the Labor Department flagged that it had changed little over its level from a year ago.

Federal government employment continued to decline, down 11.8 percent since October 2024. Trump has taken a hatchet to the sector in a drive aimed at cost-cutting and reducing the size of government. The new data reflected a revision in the figures for January and February, showing employment for those two months combined was 7,000 lower than previously reported. The US-Israel war on Iran has engulfed the Middle East, sent oil prices surging and snarled supply chains, leading to fears of a global economic slowdown.

Analysts signaled caution as the economic impact of the war begins to hit Americans. Nationwide Chief Economist Kathy Bostjancic said the March report showed the labor market was in "good standing," with "broad-based gains in the private sector." Oxford Economics' Houten, however, said the report "doesn't change our assessment that the downside risks to the labor market have increased" due to the war.

"As the labor market softens due to the fallout from the war, we expect the unemployment rate to edge up," she said. High energy prices tend to drive up production costs, curbing economic activity, with analysts expecting the current "low-hire, low-fire" trend to continue. "If you look through the noise you have, you know that same picture that we've been looking at, which is a labor market that's holding up, but that has become more fragile, and that remains stuck in this low-hire, low-fire type of environment," EY-Parthenon Senior Economist Lydia Boussour told AFP. 

Uncertainty about the war's economic shock has so far led policymakers at the Federal Reserve to adopt a wait-and-see approach on interest rate moves, as they balance curbing stubbornly high inflation with managing unemployment. Unemployment rates have remained relatively steady in the United States -- but the figure has hidden churn under the surface, analysts warn, as weak jobs growth has been matched by a drop in labor supply. That drop in supply is largely attributed to Trump's crackdown on migrants.

For Fed policymakers, however, inflation currently appears to be a bigger risk than unemployment. "We are getting mixed signals, with some key indicators showing signs of steadying while others are suggesting a weakening labor market," New York Fed President John Williams said Monday. EY-Parthenon's Boussour said Friday's report will provide "a little bit of reassurance and a little bit of breathing room for the Fed to focus on the inflation side of their mandate in the coming months."

However, bank branches, sub-branches, and booths located in sea, land, and airport areas will continue to operate 24/7 as per the existing directives. The new timings follow after the government on April 2 announced a series of austerity measures, including curtailing office hours and early closure of shopping malls and shops, considering the ongoing energy situation in the wake of the crisis in the Middle East.

Kharg Island, located off Iran's western coast, is a vital oil export terminal for the country. US President Donald Trump has recently threatened to destroy the island if a deal to end the war is not reached soon and the Strait of Hormuz does not "immediately" reopen. On March 13, the US said it had bombed military targets on the island but refrained from hitting oil infrastructure there.

Iranian officials have in recent days warned that the United States may be planning a ground attack, particularly targeting one of Iran's islands, and have repeatedly cautioned against such a move. The warnings came as the USS Tripoli, an amphibious assault ship carrying around 3,500 Marines and sailors, arrived in the Middle East last week.

The directive has been issued in line with the Section 41 (2) (Gha) of the Finance Company Act, 2023. The new timings follow after the government on April 2 announced a series of austerity measures, including curtailing office hours and early closure of shopping malls and shops, considering the ongoing energy situation in the wake of the crisis in the Middle East.

- Stocks rise, oil slides -

Stocks rallied and oil fell Wednesday after US President Donald Trump said the Middle East war might be over within weeks, and comments by his Iranian counterpart that Tehran had "the necessary will" to end the conflict.

International benchmark Brent North Sea crude dropped 2.7 percent to $101.16 a barrel, and the main US oil contract WTI fell 1.2 percent to $100.12 a barrel.

Wall Street's main indices built on strong gains made Tuesday. European and Asian markets also finished higher.

- New Iranian strikes -

Iran's military announced Wednesday evening a new wave of missile and drone attacks targeting Israel and US bases in the Gulf, though there was no immediate word from either of any direct hits.

- UK meeting on Hormuz shipping -

Britain will hold a meeting of about 35 countries Thursday to discuss how to reopen the strategic Strait of Hormuz that has been crippled by the Middle East war, Prime Minister Keir Starmer said.

The meeting will "assess all viable diplomatic and political measures that we can take to restore freedom of navigation, guarantee the safety of trapped ships and seafarers and resume the movement of vital commodities", Starmer said.

- World Bank 'extremely concerned' -

The World Bank is "extremely concerned" about the effect the war on Iran will have on inflation, jobs and food security, and is in talks with member states on how to address immediate needs in the crisis, a top official told AFP.

Managing Director Paschal Donohoe's comments came as his organization announced a new partnership with the International Monetary Fund and International Energy Agency to coordinate aid responses to the war.

- Germany outlook dims -

Leading economic institutes cut their growth forecasts for Germany on Wednesday, warning that surging inflation resulting from the Middle East war and rising energy costs would hit Europe's biggest economy hard.

The German economy is expected to grow by 0.6 percent this year, the seven institutes said, down from a September forecast of 1.3 percent, while inflation is predicted to stand at 2.8 percent, up from 2.0 percent.

- Bank of England warning -

The Bank of England said the Middle East war had caused "a substantial negative supply shock to the global economy", increasing risks to the financial system.

Following a surge in oil prices that is set to push up overall inflation, the BoE said the fallout would also weigh on economic growth and tighten financial conditions, such as restricted lending by banks.

- India fuel hike -

India's oil ministry said that domestic jet fuel prices would rise as the Middle East war pushed up energy costs, but that it had cushioned airlines from an expected 100-percent jump.

- Kuwait airport hit -

Kuwait's international airport came under an Iranian drone attack that led to "a large fire" at fuel tanks, but no casualties were reported, the civil aviation authority said.

In a further sign of strain in the Gulf state, the National Bank of Kuwait said it would close its headquarters for two days along with another branch as Iran carries out daily strikes on the Gulf.

- Save fuel, Australians -

Australian Prime Minister Anthony Albanese urged his countrymen to switch to public transport and save fuel for rural communities and essential services.

"Farmers and truckies, small businesses and families are doing it tough. And the reality is, the economic shocks caused by this war will be with us for months," Albanese said in a national address.

- Cambodia farmers suffer -

The price of diesel in Cambodia spiked to double the level at the start of the Middle East war after the latest government increase.

Farmers are being particularly hard hit as they rely on the fuel for tractors and water pumps.

- Tanker struck off Qatar -

A tanker has been hit by a projectile off the coast of Qatar's capital Doha, a British maritime security agency said, reporting damage but no casualties.

Donohoe flagged that countries in Asia and Africa were particularly vulnerable to the energy, price and supply-side shocks of the crisis. "At the moment, we are consulting with many governments and countries in relation to what their needs will be, and I would anticipate within the next number of weeks that will become far clearer," Donohoe said. The United States and Israel launched strikes on Iran on February 28, igniting a war that has engulfed the Middle East, snarled key supply chains and sent energy prices soaring.

The World Bank offers development assistance and immediate budgetary support to member nations in the form of loans and technical assistance. Donohoe said the organization was currently offering both forms of support in talks with countries in need. "We are extremely concerned regarding the effect that this will have on inflation, on jobs and on food security," he said. "That is why we will put in place responses that have a financing element and a policy element that can and will be of support."

Discussions regarding financial options -- which could take the form of immediate loans -- were "underway," but were not expected to conclude for "a number of weeks." On the policy advice front, Donohoe expected talks to wrap up "in a few days' time." Since the start of the war, Tehran has virtually blocked the key Strait of Hormuz, through which roughly a fifth of the world's crude oil and liquefied natural gas -- and one-third of its fertilizers -- pass.

Much of that is bound for Asian countries, which have seen energy flows abruptly dry up, as prices spike and supplies shrink. Several countries -- including top World Bank borrowers Pakistan, Indonesia and Bangladesh -- have implemented widespread fuel-saving measures to address the crisis, saving what they have for use in key industries and sectors. Vulnerable countries in Asia and Africa have flagged several issues of concern to the bank.

"They're calling out the income shock that will be created due to rising prices, what that will mean for households and businesses," said Donohoe. In addition to the shock of lower energy availability -- which can lead to a drop in economic output -- there are also concerns about food security related to fertilizer supply chains being frozen. Earlier this week, the IMF flagged that the war could have a serious effect on low-income countries if food prices rise significantly.

"People in low?income countries are most at risk when prices rise because food accounts for about 36 percent of consumption on average, compared with 20 percent in emerging market economies and nine percent in advanced economies," said an IMF report. In Africa, South Asia and the Middle East, the IMF warned that a number of countries were already struggling with meager foreign reserves and "limited market access," making them vulnerable to "dangerous" debt shocks.

Donohoe, of the World Bank, said the lender was "well positioned to assist countries in their economic response" and was engaged in "intense" talks with member states. "While this challenge is going to begin in energy, it really has the ability to have consequences that go across entire economies," he said.

Starlink says it operates more than 10,000 satellites, offering connectivity to people on the ground. US tech and e-commerce giant Amazon, founded by billionaire Jeff Bezos, is building a competing network called Amazon Leo, which has more than 200 satellites in orbit. Globalstar, whose market value is about $9 billion, has its own, smaller "low Earth orbit" satellite constellation.

The newspaper said one factor complicating the lengthy talks was the fact that Apple holds a 20 percent stake in Globalstar, meaning that Amazon and Apple also had to negotiate a deal. AFP has contacted Amazon, Globalstar and Apple for comment. The Financial Times report said no deal had been struck and discussions could still collapse. Globalstar's share price has soared nearly 230 percent over the past year.

In October, Bloomberg reported that the company was exploring a potential sale with several potential buyers including SpaceX. Globalstar told the Financial Times it "does not comment on industry speculation or rumours," while Amazon declined to respond. On Wednesday, a source familiar with the matter confirmed SpaceX's confidential IPO filing to AFP, which would reportedly put the rocket and satellite builder on track to list its shares by July. Media reports have said the SpaceX IPO could be valued at a whopping $75 billion or more. SpaceX did not respond to a request for comment.

Most of the goods are imported by member companies of BGMEA and BKMEA. The port authorities said the congestion has increased pressure on port operations. In the letter, the port authority requested the organisations to instruct their member companies to promptly take delivery of LCL cargo stored at CFSs and sheds.

During the meeting, the Commerce Minister detailed the vast potential for Japanese engagement in Bangladesh’s burgeoning economy. He specifically sought Japanese technical and financial cooperation in the strategic areas, including Special Economic Zones (SEZs), infrastructure development, industrialisation and export diversification. The Commerce Minister characterised the proposed Economic Partnership Agreement (EPA) between the two nations as a milestone for bilateral trade and investment. 

Highlighting its long-term diplomatic value, he noted that the Japan-Bangladesh EPA would not only strengthen ties with Tokyo but also serve as a vital reference for Bangladesh during its future negotiations for similar economic agreements with other global partners. Responding to the minister's remarks, Kazuyuki Kataoka observed that the investment climate in Bangladesh has witnessed a marked improvement after election. 

He noted that this revitalised environment has acted as a catalyst, with a significant number of Japanese investors already expressing keen interest in the Bangladeshi market. Kataoka underscored that the influx of Japanese capital would be instrumental in employment generation and the continued infrastructure development of the country, further solidifying the economic transition. Kazuyuki Kataoka cited the Third Terminal of Hazrat Shahjalal International Airport and the Dhaka Metro Rail as flagship examples of infrastructure that have successfully integrated Japanese investment.

The meeting concluded with both parties expressing a firm resolve to elevate the existing robust economic relationship between Bangladesh and Japan. The Commerce Minister and the JETRO representative pledged to work jointly to explore fresh avenues of cooperation, ensuring a deeper and more resilient economic partnership for the future.

Ahead of the opening bell, Tokai Tokyo Securities said the Japanese market was expected to rise "as information suggesting a ceasefire has been provided from both the US and Iranian side". Trump said on Tuesday that US forces would end operations in Iran "very soon", adding that he thought the military would leave "within maybe two weeks, maybe a couple of days longer".

Wall Street stocks had already rocketed higher on Tuesday after Iranian President Masoud Pezeshkian told the president of the European Council that Tehran had the "necessary will" to end the war provided its enemies guaranteed it would not flare up again. They appeared to shrug off subsequent remarks from Israeli Prime Minister Benjamin Netanyahu, who said the more than month-long military campaign against Tehran was not over, vowing to crush Iran's "terror regime".

President Masoud Pezeshkian, in a phone call with the president of the European Council, said Iran had "the necessary will to end this conflict, provided that essential conditions are met -- especially the guarantees required to prevent repetition of the aggression."

The comments prompted a surge in US equities, with the blue-chip Dow index finishing up 2.5 percent, or more than 1,125 points, at 46,341.51.

"This is the first concrete communication coming from Iran that feels verifiable," said Art Hogan of B. Riley Wealth Management. "The market has been coiled for good news after having been down the last five weeks."

Stocks appeared to shrug off subsequent remarks from Israeli Prime Minister Benjamin Netanyahu, who said the more than month-long military campaign against Tehran was not over, vowing to crush Iran's "terror regime."

Pezeshkian's remarks also shifted the oil market, which has been a major driver of financial markets since the US and Israel began their attacks on Iran on February 28.

Brent oil futures finished down 3.2 percent at $103.97 a barrel.

Even before Pezeshkian's remarks, US and European stocks had risen following reports that President Donald Trump had said he was willing to end the war even if the Strait of Hormuz was not reopened.

But worries about oil supplies continue to hang over markets.

The head of a maritime analyst group warned in an interview with AFP that Asia was confronting a major energy crisis as it faces the gravest fallout from the war.

"We think Asia will, for now, be the ones suffering the most," Kpler president Jean Maynier told AFP at the company's offices in Singapore.

Oil "remains painfully high for economies to deal with," noted Susannah Streeter, chief investment strategist at Wealth Club.

In a sign that Trump will likely face pressure to bring crude prices down, the American Automobile Association said US gas prices jumped above an average of $4 a gallon for the first time since 2022, when Russia began its invasion of Ukraine.

European stocks rose despite data showing that eurozone inflation leapt in March because of surging energy prices, hitting its highest level since January 2025.

Consumer prices rose 2.5 percent, up sharply from 1.9 percent in February, the EU's statistics agency said.

Asia's main stock markets closed mixed.

- Key figures at around 2030 GMT -

Brent North Sea Crude: DOWN 3.2 percent at $103.97 a barrel

West Texas Intermediate: DOWN 1.5 percent at $101.38 a barrel

New York - Dow: UP 2.5 percent at 46,341.51 (close)

New York - S&P 500: UP 2.9 percent at 6,528.52 (close)

New York - Nasdaq Composite: UP 3.8 percent at 21,590.63 (close)

London - FTSE 100: UP 0.5 percent at 10,176.45 (close)

Paris - CAC 40: UP 0.6 percent at 7,816.94 (close)

Frankfurt - DAX: UP 0.5 percent at 22,680.04 (close)

Tokyo - Nikkei 225: DOWN 1.6 percent at 51,063.72 (close)

Hong Kong - Hang Seng Index: UP 0.2 percent at 24,788.14 (close)

Shanghai - Composite: DOWN 0.8 percent at 3,891.86 (close)

Euro/dollar: UP at $1.1551 from $1.1465 on Monday

Pound/dollar: UP at $1.3236 from $1.3186

Dollar/yen: DOWN at 158.77 from 159.71 yen

Euro/pound: UP at 87.28 pence from 86.94 pence

But while the remarks from the two leaders provided hope for an end to the month-long crisis, crude prices jumped on lingering worries about the closure of the strategic Strait of Hormuz.

They also come as the economic impact of the conflict worsens, with average US gasoline prices topping $4 a gallon for the first time in four years, European inflation spiking, and governments unveiling a range of support measures.

Trump told reporters in the Oval Office the United States would be leaving Iran "very soon", perhaps within "two weeks, maybe three".

"But we're finishing the job," he insisted.

"We want to knock out every single thing they have," Trump said, before adding that "it's possible that we'll make a deal before that."

The White House also said he would address the nation at 0100 GMT Thursday "to provide an important update on Iran".

Earlier, Iranian leader Masoud Pezeshkian told the head of the European Council the country had "the necessary will to end this conflict, provided that essential conditions are met -- especially the guarantees required to prevent repetition of the aggression".

Wall Street surged, with the Nasdaq up 3.8 percent and the S&P 500 adding almost three percent.

In Asia, Seoul -- the standout before the war but among the worst-hit since it started -- was up more than six percent, while Tokyo and Taipei gained at least four percent.

Hong Kong, Shanghai, Sydney, Singapore, Manila and Jakarta were also sharply higher.

Traders appeared to brush off Prime Minister Benjamin Netanyahu's comments that Israel would press ahead with its campaign and that "we will continue to crush the terror regime".

However, Trump also said US forces would not work to unblock the Strait of Hormuz, through which a fifth of global oil and gas passes, and said it was up to other countries to do so.

"What happens with the strait we're not going to have anything to do with," he said.

In a Truth Social post earlier Tuesday, Trump lashed out at NATO allies and other countries that have refused to help the United States secure the waterway.

"The U.S.A. won't be there to help you anymore, just like you weren't there for us," he wrote. "Iran has been, essentially, decimated. The hard part is done. Go get your own oil!"

The remarks came after he said Monday he was willing to end the war even if the strait remained closed.

Trump has zigzagged on whether Washington plans to escalate the conflict -- possibly by deploying American ground forces -- or try to end it through negotiations.

Still, City Index's Fiona Cincotta warned in a commentary: "Even if outright military tensions ease, the economic damage from elevated oil prices may already be feeding through.

"With oil still above $100 a barrel, higher energy costs are likely to tighten financial conditions, raise inflation pressures, and weigh on growth."

She added that "diplomatic signals remain mixed, and as long as uncertainty persists and shipping disruptions remain in place, oil prices are likely to stay elevated".

Both main crude contracts rose more than one percent Wednesday, a day after Brent dived more than three percent and West Texas Intermediate shed 1.5 percent.

That came as more US troops continued to arrive in the region, and after the Wall Street Journal cited Arab officials as saying the United Arab Emirates was preparing to help Washington open the Strait by force, which would make it the first Gulf nation to join the battle.

The report said the UAE, which has been targeted by Iran during the war, was lobbying for a United Nations Security Council resolution to authorise such action.

The head of maritime analyst group Kpler told AFP Asia faced the gravest fallout from the war.

"We think Asia will, for now, be the ones suffering the most," president Jean Maynier said.

- Key figures at around 0230 GMT -

West Texas Intermediate: UP 1.3 percent at $102.73 a barrel

Brent North Sea Crude: UP 1.5 percent at $105.50 a barrel

Tokyo - Nikkei 225: UP 4.0 percent at 53,128.33 (break)

Hong Kong - Hang Seng Index: UP 2.0 percent at 25,278.50

Shanghai - Composite: UP 1.4 percent at 3,947.40

Euro/dollar: UP at $1.1566 from $1.1551 on Tuesday

Pound/dollar: UP at $1.3239 from $1.3236

Dollar/yen: DOWN at 158.70 from 158.77 yen

Euro/pound: UP at 87.38 pence from 87.28 pence

New York - Dow: UP 2.5 percent at 46,341.51 (close)

London - FTSE 100: UP 0.5 percent at 10,176.45 (close)

Profits fell 35 percent to $520 million while revenues were unchanged at $11.3 billion for the quarter ending March 31. Nike has been plagued in recent years with consumer product mismatches that have left it with excess inventories, leading to profit-reducing price cuts. The company's sales have been particularly weak in Greater China, while executives have also faced questions about product innovation.

Revenues in Greater China fell again in Tuesday's batch of results, this time by seven percent. Executives also cautioned about soft demand in the Europe, Middle East Africa region, where traffic disruption due to the Middle East war also looms as a negative factor. Nike executives cautioned that they would see a rise in inventories in EMEA in the fourth quarter. Shares of Nike sank 9.1 percent in after-hours trading.

The carmaker confirmed Wednesday it had registered 36 incidents connected with the problem worldwide, including 12 fires, and added that more than 200,000 of the recalls were in France.

The NBR chief made the remarks during a pre-budget meeting with the Association of Bankers Bangladesh (ABB),  Bangladesh Association of Banks (BAB), DSE Brokers Association of Bangladesh (DBA), Central Depository Bangladesh Limited (CDBL), Bangladesh Insurance Association (BIA),  Bangladesh Merchant Bankers Association (BMBA), Dhaka Stock Exchange and Chittagong Stock Exchange (CSE) at the NBR in the city. Under the existing fiscal policy, he mentioned that the NBR provides an excise duty exemption for balances up to Taka 3 lakh. He said that a move to expand this threshold further, stating his intention to consult with the Finance Minister to determine the extent of the new limit.

In a candid assessment of the tax, the Chairman characterized excise duty as a ‘black thing’ describing it as an undesirable and illogical element of the revenue structure. He expressed a long-term vision to abolish the duty entirely as the national economy strengthens and more sophisticated revenue streams are established. During the meeting, ABB Chairman Mashrur Arefin submitted a strategic roadmap of budget recommendations for the 2026-2027 fiscal year aimed at national economic modernization. 

He called for a sweeping recalibration of corporate tax rates, the removal of systemic barriers to Foreign Direct Investment (FDI), and urgent relief for the CMSME sector and banking professionals struggling against persistent inflationary headwinds. He proposed reduction of the corporate tax rate for listed banks from the current 37.5% to below 30%.  He contended that the existing rate places Bangladesh at a severe competitive disadvantage, noting that the average corporate tax rate among OECD and Asian nations is approximately 20%. He  underscored that narrowing this gap is essential to making Bangladesh a viable destination for FDI. 

By aligning more closely with regional peers, he sought to incentivize banks to seek stock market listings and reinforce their capital bases. He recommended a 100% tax exemption on all expenditures related to Corporate Social Responsibility (CSR), challenging the current regulatory treatment of these funds. Under existing rules, banks face disallowance on CSR spending, effectively taxing social investments as if they were non-business expenses, he added. He argued that because CSR activities directly advance government objectives in healthcare, education, and social welfare, they should be incentivized as public-private partnerships rather than being penalized. 

Removing this tax barrier would allow the sector to broaden its social impact without the current fiscal friction that characterizes social spending, he added.

The directive was issued to all Authorized Dealers in foreign exchange in Bangladesh, who are required to facilitate the audit process for these claims. As per the circular, the central bank has identified seven firms as eligible to perform auditing assignments for export subsidy and cash incentive applications. The firms are A. HANNAN & CO, HOSSAIN & CO., MUJIBUR RAHMAN & CO., PODDER & ASSOCIATE, SAFE-Q ASSOCIATES & CO.,  SAIFUR ENAYET & ASSOCIATES and SAM & ASSOCIATES.

The central bank has established specific operational constraints to ensure balanced professional distribution and effective supervision. Under the new instructions, a single CMA firm is restricted from undertaking auditing assignments for a maximum of three banks in a particular financial year.

Authorized Dealers have been further instructed to bring the contents of this circular to the attention of their respective clientele to ensure compliance across the export sector. Bangladesh Bank confirmed that all instructions contained in the December 2023 circular, along with all other relevant circulars and circular letters pertaining to export subsidies and cash incentives, remain unchanged and in full effect.

The testing of wheat samples on the ship has begun, and arrangements are in place for the swift unloading of the 61,000 metric tons of wheat. 29,450 metric tons will be offloaded at Chattogram, with the remaining 31,550 metric tons at Mongla Port. Bangladesh has initiated wheat imports from the United States through government-to-government agreements. All 467,884 metric tons of wheat under G2G-01 and G2G-02 agreements have arrived in the country, out of which 237,845 metric tons are under G2G-01 and 230,039 metric tons under G2G-02.

The country's total wheat demand is around 7 million metric tons, with domestic production at 1 million metric tons. The shortfall is met through government and private imports.

In his speech, the Minister focused on salvaging the economy to stabilize its inherited state, fulfilling manifesto commitments promised to the public, and managing external shocks from the Middle East conflict that have increased fuel import costs. The Minister stressed that resource mobilization is critical, as the government cannot implement its commitments without securing adequate revenue. To foster a conducive environment, the Minister highlighted several reforms including policy stability, deregulation and financial discipline.

He said that the government aims to ensure long-term policy consistency so that investors can plan with confidence without fearing sudden changes in regulations. Plans are underway for serious deregulation to simplify business processes, which will be visible soon, he added. He mentioned that restoring order and discipline in the financial sector and the capital market is a top priority to build investor trust.

The Minister noted that many international investors were waiting for the post-election period and have shown significant interest in bringing billions of dollars into the country.  The Minister stated that instead of these groups being an afterthought, the budget will start with the deprived, ensuring they are integrated into the mainstream of economic benefits. The ultimate goal is to use these investments to generate widespread employment opportunities, he added.

To reduce over-reliance on the Ready-Made Garment (RMG) sector, he said, the government plans to diversify exports. Regarding international status, the Minister confirmed that the process for LDC (Least Developed Country) graduation is ongoing.  He mentioned that a proposal is being prepared for the Prime Minister to send to the UN General Assembly requesting a three-year extension to the graduation timeline to ensure a smoother transition. He said that the government is also engaging in high-level bilateral discussions with international partners, including the Japanese and German ambassadors, to explore further economic cooperation and support during this period of crisis. 

The Minister concluded that while these efforts are a work in progress, the government is committed to creating a disciplined and stable economic environment to attract the necessary capital for national development.

The joint secretary stated that among all fuel types, diesel holds the largest share of reserves, playing a crucial role in ensuring uninterrupted supply to the agriculture, transport and industrial sectors. Meanwhile, octane stocks stand at 7,940 metric tons, which is sufficient to meet current demand for private vehicles and high-performance engines. Petrol reserves are reported at 11,431 metric tons. In addition, jet fuel stocks stand at 44,609 metric tons, which is adequate to meet existing demand.

Chowdhury further noted that the fuel supply is being continuously managed through regular imports and unloading operations, ensuring both daily supply and updated stock levels. To strengthen supply management, tag officers have been appointed at divisional and district levels. In Dhaka Division, 479 officials have been deployed across 13 districts and 116 in metropolitan areas. In Chattogram Division, 330 officials are assigned in 11 districts and 62 in metropolitan areas. Rajshahi Division has 340 officials in eight districts, while Khulna Division has 301 officials across 10 districts. Similar deployments have been made in Rangpur, Barishal, Mymensingh, and Sylhet divisions.

He added that these tag officers will closely monitor fuel supply and sales activities at the field level, ensuring greater transparency and discipline in the system. Additionally, surveillance has been strengthened in border areas to prevent fuel smuggling. No major shortages or abnormal situations have been reported so far.

The authorities expressed optimism that fuel supply will remain stable in the near future, including throughout April. The government is also set to launch a digital app soon to further strengthen market control and monitoring of fuel distribution. Initially, the app will be introduced on a pilot basis.

Access to North Korea has always been heavily restricted, but the country became almost entirely cut off when it sealed its borders in 2020 during the pandemic. Flight CA121 departed Beijing Capital Airport at 7:58 am (2358 GMT on Sunday), according to FlightStats data, and arrived at Pyongyang's Sunan International Airport at 10:37 am (0137 GMT). The plane was a Boeing 737-700 with capacity for up to 128 passengers, according to travel website Trip.com, though only travellers with business, study or other special purposes can make the cross-border journey.

China's ambassador to North Korea Wang Yajun and other Chinese diplomats greeted the passengers at the airport, Xinhua news agency said. Earlier, AFP journalists saw travellers at Beijing's bustling airport forming a snaking queue to check in their luggage with the airline. Pyongyang-bound business traveller Zhao Bin showed reporters his air ticket, and expressed optimism that tourism would resume for Chinese visitors.

"I expect both railway routes and Air China flights will increase, and there will be more exchanges and travel between people," said Zhao, who will be spending around a week in North Korea. He has visited North Korea multiple times, most recently in 2024, and said that the resumption of the flight route will offer "greater convenience to those of us who frequently travel between Beijing and Pyongyang". Zhao told AFP he was looking forward to eating North Korea's "incredibly rich and diverse" cuisine and hoped increased exchanges between both countries could deepen ties "to a new level".

"The relationship between the two countries is now as close as brothers," he said. Air China did not immediately reply to AFP when asked for details on the flight, including the number of passengers travelling from Beijing to Pyongyang. Economy class tickets had been available for around $200 and a return flight from Pyongyang is scheduled for midday. Daily passenger train services resumed this month with China, and AFP journalists in China's northeastern town of Dandong -- long a key gateway for exchanges with North Korea -- saw a mostly empty passenger train travelling into the isolated nation last week.

While China has fully reopened its borders since the pandemic, North Korea has proceeded at a much slower pace. North Korea resumed direct flights and train services with Russia last year and state carrier Air Koryo restarted flights between Beijing and Pyongyang in 2023. Young Pioneer Tours, which specialises in travel to North Korea, told AFP in March that Air China resuming its route to Beijing opens Pyongyang up to more accessible connections. While the announcement of flights was "promising" for tourism, "there is still no further confirmation regarding Western tourists", Young Pioneer tour manager Rowan Beard said.

Prior to the pandemic, Chinese tourists made up the bulk of foreign visitors to North Korea, numbering roughly 350,000 in 2019 and providing a huge revenue stream for Pyongyang, according to NK News, a specialist website that provides analyses of the country. By comparison, around 5,000 Western tourists visited North Korea each year from 2009, with US citizens accounting for 20 percent of those, according to the 38 North programme at the Washington-based Stimson Center.

The moratorium, which has been renewed every two years since it was introduced in 1998, is now set to lapse on Monday.

Its expiration does not automatically trigger duties on digital trade, since WTO members can continue to individually choose not to impose customs duties on online goods and services ranging from e-books and music to telemedicine.

The Nikkei dipped 5.16 percent and the Kospi was down 4.41 percent before both indexes recovered slightly. The speaker of Iran's parliament, Mohammad Bagher Ghalibaf, accused the United States on Sunday of plotting a ground attack despite publicly pushing for a negotiated deal, after a US warship with around 3,500 military personnel arrived in the Middle East.

His comments came after more than a month of aerial bombardments of Iran by US and Israeli forces, and as key regional players held talks in Pakistan. The war has escalated into a regional conflagration as Iran has retaliated with attacks on Gulf states and the Strait of Hormuz shipping lane, sending energy markets into a tailspin and threatening the world economy.

As the conflict moved into its fifth week, the spectre of a widening conflict grew as Yemen's Houthi rebels on Saturday said they had fired "a barrage of cruise missiles and drones" at strategic sites in Israel.

The strikes raised concern about the war spreading to the Red Sea, with Saudi Arabia rerouting much of its oil exports there to avoid the Strait of Hormuz, through which 20 percent of crude and gas passes and has been effectively closed by Tehran.

The news sent the price of oil to its highest level since earlier in the month after the United States and Israel began their campaign against Iran. Both main contracts jumped more than three percent at one point, with Brent hitting close to $117 a barrel.

Adding to the dour mood were Donald Trump's remarks to the Financial Times (FT) that he wanted to "take the oil in Iran" and could take the country's Kharg Island "very easily".

Kharg Island, located off the west coast of Iran, is a vital oil terminal for the country and is being eyed by the Pentagon for ground operations, though the United States insisted it would stop short of a full-scale invasion.

"Maybe we take Kharg Island, maybe we don't. We have a lot of options," he told the FT. "It would also mean we had to be there for a while."

While Pakistan said Sunday it was ready to broker and host "meaningful talks" between Washington and Tehran to end the war, Iran's parliament speaker Mohammad Bagher Ghalibaf said the United States was "secretly planning a ground attack".

The surge in oil prices and the prospect of an extended conflict put more pressure on equities amid fears about a surge in inflation that could hit the world economy.

Tokyo sank more than four percent and Seoul more than three percent, while Hong Kong, Shanghai, Sydney, Singapore, Wellington, Taipei, Jakarta and Manila were also sharply down.

The losses followed a bad day on Wall Street, where all three main indexes tumbled after the United States and Israel struck Iranian nuclear sites.

"The market is now reacting to higher crude pricing and towards the fallout in the economic consequences," wrote Pepperstone's Chris Weston.

"Higher short-term inflation expectations, volatility in the interest rate markets, and growing concerns around supply shortages/inventory and the subsequent impact on the March/April economic data series and corporate earnings is now front and centre," he added.

"The Houthi's ability to disrupt shipping through the Bab al-Mandab Strait, which accounts for roughly 12 percent of global trade, is the new key risk" he said, referring to the waterway between Yemen and the Horn of Africa.

"Any meaningful disruption, married with a sharp rise in insurance costs, could drive another leg higher in crude and further pressure risk assets."

The selling came after a relatively calm period last week after Trump delayed until next month a threatened attack on Iran's energy infrastructure citing progress in talks with Tehran.

Skye Masters at National Australia Bank said: "Trump's decision to extend the pause in Iran's energy sector... has clearly not been enough to support investor sentiment where the focus is turning to the global economic impact of such a shock -- this is now not just about the price of oil it includes fertilizer, petrochemicals, metals."

- Key figures at around 0230 GMT -

West Texas Intermediate: UP 3.0 percent at $102.61 a barrel

Brent North Sea Crude: UP 3.2 percent at $116.15 a barrel

Tokyo - Nikkei 225: DOWN 4.6 percent at 50,936.13 (break)

Hong Kong - Hang Seng Index: DOWN 1.9 percent at 24,479.15

Shanghai - Composite: DOWN 0.7 percent at 3,886.86

Euro/dollar: DOWN at $1.1506 from $1.1517 on Friday

Pound/dollar: DOWN at $1.3249 from $1.3272

Dollar/yen: DOWN at 159.87 yen from 160.20 yen

Euro/pound: UP at 86.84 pence from 86.78 pence

New York - Dow: DOWN 1.7 percent at 45,166.64 (close)

London - FTSE 100: DOWN less than 0.1 percent at 9,701.95 (close)

"Budget agreements are made to be respected," Finance Minister Jens Stoltenberg, of the Labour Party which opposed the move, told public broadcaster NRK. "We need to sit down around the table with our partners and make sure this kind of situation doesn't happen again," he said. The tax cuts also apply to mineral oils used in fishing and hunting, the government said.

Parliament estimated the tax cut would cost around 6.3 billion kroner. Norway, Europe's biggest oil and gas producer after Russia, has the highest number of electric vehicles per capita in the world, representing around 32 percent of the country's car fleet in December 2025. Diesel cars accounted for 31.8 percent of the fleet, compared to 23.9 percent for petrol cars and 12.6 for various hybrids.

In a presentation detailing the FY2025 Survey on Business Conditions of Japanese Companies Operating Overseas, Kazuiki Kataoka, Country Representative of JETRO Dhaka, revealed that 56.9% of Japanese firms in Bangladesh plan to expand their operations over the next one to two years. 

“This expansion sentiment matches that of Vietnam and is primarily driven by the increase of local market demand, cited by 66.7% of surveyed companies,” he said while delivering the presentation at an event marking the Japan Business Day at a hotel in the city.

Organized by the Embassy of Japan and the Japan External Trade Organization (JETRO) Dhaka Office, the event was attended by chief guests, Dr Rashed Al Mahmud Titumir, Prime Minister's Adviser on the Ministry of Finance and Planning, and Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of the Bangladesh Investment Development Authority (BIDA). 

Kazuiki Kataoka said that the business outlook for Japanese enterprises in the country is on an upward trajectory.
 
Reffering the survey, he mentioned that 50% of Japanese companies in Bangladesh forecast an operating profit for 2025, a notable increase from the 41.9% reported in 2024. 

The non-manufacturing sector is particularly bullish, with 62.2% of these firms expressing intentions to expand, significantly higher than the 47.6% seen in the manufacturing sector, he added.

He underscored Bangladesh’s massive market potential, supported by a population of over 180 million and a decade of sustained GDP growth exceeding 5-6%.

 Kazuiki Kataoka said that  Bangladesh is projected to become the 9th largest consumer market globally by 2030, surpassing the United Kingdom.

Per capita income is nearing the $3,000 mark ($2,769 in FY24-25), attracting Japanese brands to serve local consumers directly, he added.

Currently, he noted, approximately 350 Japanese companies operate in Bangladesh, with a growing presence in consumer-facing sectors. 

High-potential areas include FMCG, food processing, electronics, automobiles, and healthcare, he mentioned.

He said that notable Japanese entities already making strides include Lion Corporation, Ajinomoto, Kewpie, Kikkoman, Mitsubishi (RANCON), and Honda, alongside the SHIP International Hospital.

He explained that the top advantages for investing in Bangladesh were identified as low labour costs, market scale, growth potential, and fewer linguistic barriers compared to other regions.

 Furthermore, he said, Bangladesh leads developing countries in the region for Human Rights Due Diligence (HRDD) implementation, with 40.7% of companies already conducting these initiatives.

The morning session of the event was dedicated to the "Commemorative Event for EPA Agreement with Bangladesh." 

The proceedings commenced with a welcome speech by Yutaro Mochida, Head of Economic Section at the Embassy of Japan in Bangladesh.
 
This was followed by an online message from Izuru Kobayashi, Deputy Director-General (Ambassador) at the Ministry of Foreign Affairs of Japan.

During this segment, Tareq Rafi Bhuiyan (Jun), President of the Japan Bangladesh Chamber of Commerce and Industry (JBCCI), and Shinichi Saida, Ambassador of Japan to Bangladesh, addressed the assembly.
 
In his speech,  Tareq Rafi Bhuiyan said that Bangladesh and Japan have embarked on a landmark transition in their bilateral relations, moving decisively from decades of development cooperation toward a comprehensive, rules-based economic alliance. 

The proposed Bangladesh-Japan Economic Partnership Agreement (EPA), the nation’s first comprehensive bilateral agreement of its kind, represents a strategic evolution aimed at anchoring the country’s economic stability as it navigates the complexities of its upcoming transition from Least Developed Country (LDC) status, he added.

He said that the EPA is a defining moment in Bangladesh's macroeconomic policy. 

As the nation approaches its graduation from LDC status, he said that it faces the inevitable expiration of existing preferential trade schemes, such as the Generalised Scheme of Preferences (GSP). 

In this context, he mentioned that the EPA is an essential national imperative to replace diminishing protections with a structured framework for growth.

The afternoon session transitioned to a detailed examination of the "Investment Environment of Bangladesh based on 2025 JETRO Survey." Kazuiki Kataoka, delivered a presentation titled "2025 JETRO Survey on Business Conditions of Japanese Companies in Asia and Oceania."

Following the survey overview, a secondary presentation titled "Recent Japanese Interest in Bangladesh Consumer Market" was delivered by Tomotaka Minoura, Representative of JETRO Dhaka, and Shariful Alam, Senior Director of JETRO Dhaka. 

A panel discussion, moderated by Tareq Rafi Bhuiyan (Jun), featured a diverse group of representatives from the public and private sectors. 

The panelists included Nahian Rahman Rochi, Executive Member and Head of Business Development, BIDA; Manabu Sugawara, President, SHOO-KOO-KAI; Hiroshi Uegaki, Country Representative, Mitsubishi Corporation; Syed Nasim Manzur, Managing Director, Apex Footwear Limited; and Dr. M Masrur Reaz, Chairman and CEO, Policy Exchange Bangladesh.

The meeting was also attended by Bangladesh's Commerce Secretary Mahbubur Rahman and other senior officials from both nations. Highlighting the vision and goals of the newly elected government, Muktadir emphasized Bangladesh's commitment to creating a business-friendly environment and increasing active participation in global value chains. 

He noted that as the country prepares for its upcoming graduation from Least Developed Country (LDC) status, the government is prioritizing strategic market diversification to ensure economic sustainability. The minister informed his counterpart that Bangladesh has already signed an Economic Partnership Agreement (EPA) with Japan and is currently engaged in active negotiations for similar trade arrangements with South Korea, Singapore, and the United Arab Emirates (UAE).

During the discussions, the Commerce Minister reiterated Bangladesh's strong interest in joining the Regional Comprehensive Economic Partnership (RCEP), seeking New Zealand's support for the accession. He pointed out that Bangladesh's strategic geographic location as a bridge between South and South-East Asia, coupled with its rapidly growing middle-class population, makes it a vital and suitable partner for the regional trade bloc.

In response, Minister Todd McClay lauded Bangladesh's geopolitical importance and economic potential, describing the country as a "suitable partner" for RCEP. He assured that New Zealand would work to coordinate with other member states to facilitate Bangladesh's inclusion in the bloc.

Regarding the proposed bilateral FTA, the New Zealand Minister underscored that such an agreement would not only enhance trade volumes but also send a powerful positive signal to the global investor community about the stability and potential of the Bangladesh market during its critical post-LDC transition phase. The New Zealand Minister also accepted an invitation from his Bangladeshi counterpart to visit Dhaka, expressing his intent to undertake the visit by the middle of the current year.

Both sides concluded the meeting by reaffirming their mutual commitment to exploring fresh avenues of economic cooperation and maintaining the long-standing friendly ties between the two countries , the release adde.

According to the circular, the framework balances aggressive financial inclusion with AML/CFT compliance, setting a strict December 31, 2026, implementation deadline.  It establishes tiered thresholds, including life insurance sums up to Taka 2,000,000 and securities deposits up to Taka 1,500,000.

The BFIU move marks a pivotal shift in the nation’s digital architecture, aligning with Bangladesh’s trajectory toward a trillion-dollar economy. By digitizing on boarding, the regulator aims to unlock dead capital and increase the velocity of money through broader inclusion, while simultaneously satisfying stringent Financial Action Task Force (FATF) standards. 

Inaugurating the seminar, Nurun Nahar, Chairman of the BIBM Executive Committee and Deputy Governor of Bangladesh Bank, underscored that strong Shariah governance is vital for maintaining the integrity of Islamic banking. She noted that effective governance ensures compliance with regulatory requirements while upholding Shariah principles, thereby enhancing sector resilience and sustainability.

Dr. Md. Ezazul Islam, Director General of BIBM, who chaired the program, emphasized that Shariah governance goes beyond technical compliance, encompassing institutional culture, professional competence, depositor protection, transparency, and ethical accountability. He remarked that for a country like Bangladesh, where Islamic banking has expanded significantly, strengthening governance is indispensable to meet depositor expectations for both financial soundness and Shariah authenticity.

A keynote paper presented by a research team led by Dr. Md. Mahabbat Hossain, Associate Professor of BIBM, evaluated existing governance practices and identified challenges while proposing policy recommendations to improve standards across Islamic banks.  Professor Dr. Said Bouheraoua, Director of the ISRA Institute at INCEIF University, Malaysia, shared international perspectives and global best practices during the session.

Earlier, Md. Shihab Uddin Khan, Professor and Director at BIBM, delivered the welcome address, highlighting the need for strong governance to ensure transparency, credibility, and public trust. A distinguished panel of discussants, including Abdul Awal Sarker, Director of Janata Bank PLC; Md. Abdus Salam, Independent Director of Islami Bank Bangladesh PLC; Mosleh Uddin Ahmed, Managing Director of Shahjalal Islami Bank PLC; Nabil Ahmad from the Financial Reporting Council; and Mohammad Anisur Rahman, Director at Bangladesh Bank, shared insights on regulatory oversight and strategies for governance enhancement. The seminar was attended by senior bankers, regulators, academics, and researchers.

The adviser made the remarks while speaking as the chief guest at an event marking the Japan Business Day at a hotel in the city today. The Embassy of Japan and the Japan External Trade Organization (JETRO) Dhaka Office organised the event. Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of the Bangladesh Investment Development Authority (BIDA), also spoke on the occasion as the chief guest.

In his speech, Titumir emphasized the deep civilizational and historical ties between the two nations, symbolized by the ‘rising red sun' shared in both national flags. He noted that while Japan has been a long-term partner in Bangladesh's development through ODA, the current government seeks a new economic model where investment leads to production, employment generation, and sustainable growth.

The adviser urged Japanese stakeholders to ensure that their investment in Bangladesh exceeds the average per-country parity for Japanese global investments. He specifically invited Japanese firms to invest in the manufacturing sector, highlighting that this is essential for creating sustainable jobs and upholding labour and human rights. "We would really like to see that Japan is investing in manufacturing because ... that would ensure sustainable jobs," the adviser stated, adding that the embassy should act as a champion for driving this investment flow.

He proposed a model of joint ventures where risks and profits are shared between Bangladeshi and Japanese partners, citing this as a potential global best practice to avoid debt-related concerns. To reassure investors, the adviser highlighted the government's track record and commitment to deregulation, liberalization, and privatization. The adviser stressed that the interim government is focused on walking the talk through concrete administrative mind-set changes. 

He expressed hope for a future epoch-making summit between the Prime Ministers of Bangladesh and Japan to solidify these future-oriented steps. "We are looking forward to moving from the talking ... to seeing that we walk the talk," he concluded, while extending an invitation for the Japanese Prime Minister to visit Bangladesh at a convenient time. In his speech, Chowdhury Ashik Mahmud Bin Harun, signalled a fundamental paradigm shift in the nation’s economic relationship with Japan, announcing a transition from an "aid-based" model to an "investment-based" story.

Addressing the investment climate, Chowdhury highlighted the post-election environment as a cornerstone of social and political stability. He characterized the recent national elections as "free, fair, and festive," noting that the resulting majority government provides international partners with the continuity and comfort necessary for long-term capital commitments.

The Chairman identified the ongoing Economic Partnership Agreement (EPA) negotiations with Japan as a historic trade milestone. Asserting that the EPA is not just another crazy trade document, he described the agreement as a foundational benchmark for Bangladesh’s future economic engagements. He acknowledged the rigorous 1.5-year negotiation process, highlighting the challenges overcome in navigating the system to establish this inaugural agreement.

The EPA serves as a clear signal of intent to the Japanese business community that Bangladesh is open to business and fully committed to the Japanese investment narrative, he added. Having established this initial framework, the Chairman expressed confidence that Bangladesh is now positioned to successfully negotiate multiple EPAs with other nations over the next three to five years. Chowdhury revealed that the government intends to transfer sick and unused assets to the private sector to catalyze growth.

"These are actually very good assets, but they are effectively costing taxpayer money," the Chairman stated, emphasizing the need to transform liabilities into productive entities. By inviting local and foreign investors to revitalize these assets, the government aims to generate employment and create new economic development case studies, he added. 

While acknowledging that time-consuming tax procedures and licensing regimes still require significant reform, he reiterated that the administration’s top levels are committed to a private sector-led economic model. The Executive Chairman lauded the JETRO survey as the government’s most structured feedback tool but noted a critical need for more real-time data. He observed that the current survey results are pre-election and reflect data from last year, resulting in a lag that can hinder responsive decision-making.

In a notable move toward transparency, Chowdhury challenged the investor community to hold the government accountable. He requested that investors use the specific metrics in the next survey to evaluate whether BIDA’s 180-day plan and the government's manifesto have successfully moved the needle on investor concerns. "If we do not improve in some of these specific metrics, you should hold us accountable," he added.

Reflecting on the long drawn history between the two nations, the Chairman cited major flagship projects such as the Japanese Economic Zone and the construction of Terminal 3 at Hazrat Shahjalal International Airport as evidence of a special relationship. Concluding his remarks, Chowdhury urged Japanese investors to maintain a continuous loop of candid feedback. He reaffirmed BIDA’s commitment to turning investor concerns into opportunities, ensuring that the Bangladesh-Japan partnership remains a premier example of successful economic cooperation.

At the closing remarks of the event, Shinichi Saida, Ambassador of Japan to Bangladesh, highlighted that the EPA represents a fundamental shift in the economic and diplomatic landscape between the two nations. He called for a multi-sectoral approach to navigate the complexities of the new economic landscape. He emphasized that the success of the bilateral relationship depends on a Triple Helix of cooperation involving the public sector, private sector, and academia.

These three pillars must work together jointly to build upon the foundation laid by the EPA, he added. The ambassador concluded by emphasizing the necessity to further deepen dialogue across every field to ensure the partnership continues to evolve effectively. 

- Iran Guards target aluminium plants in Bahrain, UAE -

Iran's Revolutionary Guards said they launched missile and drone strikes on aluminium plants in Bahrain and the United Arab Emirates, targeting what they described as industries linked to the US military.

Aluminium Bahrain (Alba) said in a statement that its facility was targeted by Iran and that two employees were wounded in an attack on Saturday, while UAE's Emirates Global Aluminium (EGA) said one of its sites in Abu Dhabi suffered significant damage, and six people were wounded.

- Taiwan to freeze LPG prices in April -

Taiwan said it is freezing prices of liquefied petroleum gas (LPG) in April.

"Liquefied petroleum gas (LPG) prices will remain unchanged in April, and key feedstocks such as ethylene and propylene will be prioritised for domestic downstream industries," a statement from Taiwan's cabinet said.

- Iran allows 20 more Pakistan ships through Hormuz -

Pakistan Foreign Minister Ishaq Dar announced that Iran had allowed "20 more ships" under the Pakistani flag -- or two ships daily -- to pass through the Strait of Hormuz.

- Indian tile makers squeezed by energy crunch -

India's vast ceramics hub in Morbi has been paralysed after the Middle East war choked LPG supplies, forcing hundreds of propane-fired kilns to go cold.

More than 400 plants have shut as imports through the Strait of Hormuz stalled and tens of thousands of workers have beensent home. The region produces 90 percent of India's ceramics and employs nearly a million people.

- Ship insurers juggle war risks -

Iranian forces' threat to shipping in the Strait of Hormuz has driven up insurance payments for the world freight industry.

Operators face sharply higher costs, with some quotes running into tens of millions of dollars for a single passage. Rates that once sat below one percent of a vessel's value have jumped to as high as 10 percent, changing by the hour as underwriters reassess danger in the Gulf's newly expanded "listed" zones.

- Trapped seafarers buzz helplines -

Seafarers' helplines say they are inundated with pleas from crews trapped in the Gulf as the Middle East conflict leaves roughly 20,000 workers stuck in the war zone.

The International Transport Workers' Federation has logged more than 1,000 messages since February 28, with seafarers reporting shortages of food and water, sending videos of nearby bomb strikes and begging for repatriation.

Many are entitled to repatriation and double pay under International Bargaining Forum rules, but crews on vessels without such labour agreements say operators are refusing to release them or cite a lack of flights.

- Thailand secures Hormuz transit -

Thailand has reached an agreement with Iran to allow Thai oil vessels to travel through the Strait of Hormuz, its prime minister said.

- Iran turns back ships -

Iran's Revolutionary Guards said that they had turned back three ships trying to transit the Strait of Hormuz, saying the route was closed to vessels travelling to and from ports linked to countries aiding the US-Israeli attacks.

Energy market intelligence firm Kpler said it had identified two container ships belonging to the Chinese firm COSCO that had attempted to leave the Gulf by crossing the narrow waterway, but had turned around.

- Egypt imposes business curfew -

Egypt has ordered shops, restaurants and shopping malls to close at 9:00 pm (1900 GMT), hoping to curb energy bills that have more than doubled because of the Iran war.

More than 5 million individual taxpayers have already registered in the NBR's e-return system, and over 4.15 million taxpayers have submitted their returns online for the current tax year. The deadline for submission of income tax returns for individual taxpayers has been extended until March 31, 2026. However, taxpayers who submit a written application before March 31, 2026, may receive up to 90 days of additional time from the concerned tax commissioner to file their returns.

To make the time-extension process easy, fast, transparent and convenient, the NBR has introduced a fully online system for submitting applications and approving extensions. Taxpayers can now log in to the e-return system and apply for deadline extension through the "Time Extension" menu, said an NBR press release today. In the last few days, more than 5,000 taxpayers have applied online for extension of the return submission deadline, and most of the applications have already been approved online within a short time.

Based on the online applications, tax commissioners of respective tax zones are approving extension requests digitally. Once the extension is granted, taxpayers can submit their returns within the extended period without paying any penalty or additional tax. Taxpayers who have not yet submitted their returns must apply for extension before March 31, 2026, if they want to avoid penalties and submit returns within the extended period. Those who are not registered in the e-return system must first complete registration using their biometric SIM before applying for the extension.

Taxpayers for whom online return submission is not mandatory can apply for extension either online or by submitting a written application directly to their respective tax circles. The NBR has urged all individual taxpayers to submit their income tax returns through the e-return system by March 31, 2026, to avoid penalties or additional tax. However, those unable to submit within the deadline may apply online for up to 90 days' extension by providing valid reasons before March 31, 2026.

According to industry sources, the newly certified factories include Epic Garments Manufacturing Co. Ltd. Unit-7 in Narayanganj, Surma Garments Ltd. in Dhaka, NAFA Apparels Ltd Unit-02 in Dhamrai, Winter Dress Limited in Savar, and Meher Garments Limited in Chattogram. Epic Garments Manufacturing Co. Ltd. Unit-7 secured Gold certification under LEED BD+C: New Construction v4 with 67 points, while Surma Garments Ltd. achieved Gold certification under LEED O+M: Existing Buildings v4 with 71 points.

NAFA Apparels Ltd Unit-02 received Gold certification under LEED BD+C: New Construction v4 with 65 points. Winter Dress Limited earned Platinum certification under LEED O+M: Existing Buildings v4.1 with 85 points, and Meher Garments Limited secured Platinum certification under LEED O+M: Existing Buildings v4.1 with 89 points.

Industry leaders said the achievement demonstrates Bangladesh's continued progress in adopting green technologies, energy efficiency, and environmentally sustainable production systems in the RMG sector. Bangladesh currently leads the world in green garment factories, with the sector increasingly focusing on energy efficiency, water conservation, reduced carbon emissions, and improved workplace standards to ensure sustainable development and competitiveness in the global market.

In addition, executive magistrates from the Energy Division are conducting mobile court operations daily at various locations across Dhaka city. The drive will also continue tomorrow in the capital and its surrounding areas. Authorities have urged the public to report any suspected irregularities by contacting the vigilance team through designated phone numbers.

However, the central bank will determine the specific lending limit for any particular institution. The relaxation is applicable only to LPG importers to prevent any disruption in imports. The Bangladesh Bank will permit banks to exceed the 25% limit in such cases.

Analysts pointed out, however, that the arrival of more US troops in the Middle East and fresh missile strikes between Iran and Israel suggested that the path forward was far from clear. US President Donald Trump on Wednesday threatened to "unleash hell" if Iran did not strike a deal, but Tehran's Foreign Minister Abbas Araghchi said his country did not intend to negotiate.

Moreover, an unnamed Iranian military official told local media that Tehran would target shipping in the Red Sea if the Washington launched a ground invasion. While global shares rose modestly, oil prices dipped as the Brent crude benchmark was down 2.2 percent at $102.22 a barrel, while West Texas Intermediate was also off 2.2 percent at $90.32 a barrel.

Earlier, crude futures had plunged more than six percent. Jack Ablin, from Cresset wealth management, said the stocks rally was driven by investors "really just latching on to any promising news right now." The equities push was "really related to oil prices going down and that anticipated end of the hostilities, or at least a settling down of hostilities." As World Trade Organization ministers prepared to meet in Yaounde, the head of the International Chamber of Commerce bluntly warned that the conflict could cause the "worst industrial crisis" in decades.

"The head of the International Energy Agency has warned that the world is facing an energy crisis more severe than the oil shocks of the 1970s," said John Denton. "From a business perspective, we believe this could yet become the worst industrial crisis in living memory." Offering respite to some countries, Tehran announced it would let oil vessels from "non-hostile" nations pass through the crucial Strait of Hormuz.

The head of the International Energy Agency, Fatih Birol, said he was "ready to move forward" with an additional release of oil reserves "if and when necessary." Wall Street closed in the green, with the Dow rising 0.7 percent, the broader-based S&P 500 up 0.5 percent and the tech-heavy Nasdaq adding 0.8 percent.

In Europe, London, Frankfurt and Paris closed up just shy of 1.5 percent ahead. Asian markets closed with strong gains, led by Tokyo, which won nearly three percent. European Central Bank chief Christine Lagarde said the ECB has several options for dealing with the energy shock, vowing policymakers would not be "paralysed by hesitation." At its most recent meeting last week, the ECB kept interest rates on hold, while warning of higher inflation and lower growth in the eurozone owing to the war.

However, analysts have raised bets on the central bank hiking borrowing costs as soon as next month to try and keep the lid on an expected surge in consumer prices.

- Key figures at around 2015 GMT -

Brent North Sea Crude: DOWN 2.2 percent at $102.22 a barrel

West Texas Intermediate: DOWN 2.2 percent at $90.32 a barrel

New York - Dow: UP 0.7 percent at 46,429.49 points (close)

New York - S&P 500: UP 0.5 percent at 6,591.90 (close)

New York - Nasdaq Composite: UP 0.8 percent at 21,929.83 (close)

London - FTSE 100: UP 1.4 percent at 10,106.84 points (close)

Paris - CAC 40: UP 1.3 percent at 7,846.55 (close)

Frankfurt - DAX: UP 1.4 percent at 22,957.087 (close)

Tokyo - Nikkei 225: UP 2.9 percent at 53,749.62 (close)

Hong Kong - Hang Seng Index: UP 1.1 percent at 25,335.95 (close)

Shanghai - Composite: UP 1.3 percent at 3,931.84 (close)

Euro/dollar: DOWN at $1.1565 from $1.1583 on Tuesday

Pound/dollar: DOWN at $1.3365 from $1.3381

Dollar/yen: UP at 159.47 yen from 159.03 yen

Euro/pound: DOWN at 86.52 pence from 86.57 pence

In Asia markets, Japan's Nikkei index and South Korea's Kospi were up by more than three percent. Trump sent a peace plan to Iran as he voiced optimism Tuesday at ending nearly a month of a war, with Tehran announcing that it will let "non-hostile" oil vessels go through the crucial Strait of Hormuz. The tentative signs of a diplomatic solution came despite new violence, with an Iranian missile causing injuries in Israel which in turn pressed on multiple fronts and vowed to seize control of a strip of southern Lebanon. The fall in oil Wednesday came after prices jumped a day earlier, with traders turned cautious over the prospect of a negotiated agreement to end the war.

After nearly four weeks of conflict, investors jumped on the first signs that hostilities could wind down, though analysts pointed out that the arrival of more US troops in the region suggested the chance of escalation remained.

The economic impact of the crisis has begun to bite around the world, with governments looking to cut energy consumption and airlines scaling back flights.

Both main crude contracts plunged more than six percent -- with Brent back below $100 -- after US President Donald Trump voiced optimism at ending the war and said officials were "in negotiations right now". Iran has not confirmed any formal talks.

"They did something yesterday that was amazing actually. They gave us a present and the present arrived today. And it was a very big present worth a tremendous amount of money," Trump told reporters in the Oval Office.

"That meant one thing to me -- we're dealing with the right people."

He did not explain further but said it related to the Strait of Hormuz, through which a fifth of global oil and gas flows and which Iran has largely blockaded, sending global energy prices soaring and fuelling fears of another surge in inflation.

Trump said that he sent a plan and that it "all starts with, they cannot have a nuclear weapon", while the New York Times quoted unnamed officials saying the 15-point proposal was sent through Pakistan.

Israel's Channel 12 said that Trump was suggesting a one-month ceasefire during which they would discuss handing over Iran's enriched uranium and banning further enrichment, while Tehran would also ensure safe passage through the Strait of Hormuz.

The Israeli report also said Iran would see an end to all sanctions and receive assistance in developing civil nuclear energy.

- Economic impact -

Meanwhile, Tehran, in a message circulated by the International Maritime Organization, assured safe passage through the strait to "non-hostile vessels".

Iran had already said it was not targeting friendly nations.

The news comes after Trump on Saturday gave Iran 48 hours to open Hormuz or he would strike the country's energy infrastructure, before making a surprise U-turn Monday, citing "very good" talks.

Equity traders pounced on the developments, with Tokyo and Seoul spiking more than three percent at one point, while Hong Kong, Sydney, Shanghai, Singapore, Wellington and Taipei also rallied.

However, violence continued, with an Iranian missile wounding people in Israel, which in turn pressed on multiple fronts and vowed to seize control of a strip of southern Lebanon.

"Markets have tentatively repriced towards a slightly higher probability of de-escalation, but conviction remains low," said Pepperstone's Chris Weston.

However, he added that "developments on the ground do not fully support a de-escalation narrative".

"Reports that the 82nd Airborne Division could deploy around 3,000 troops to the Middle East, alongside discussions around raising the US enlistment age from 34 to 42, point to continued preparation and an increased presence in the region, which in Trump's thinking could increase the pressure on Iran to forge an agreement in the reported upcoming talks."

The economic impact is becoming increasingly clearer.

Data Tuesday showed business activity in the eurozone slowed significantly in March as energy prices surged and global supply chains were hit, while France's INSEE statistics agency trimmed its growth forecast for the first and second quarters of this year.

Philippine President Ferdinand Marcos declared a state of "national energy emergency", citing risks to domestic supplies, and Sri Lanka ordered street lights, neon signs and billboard lighting to be switched off.

Bangladesh raised jet fuel prices 79 percent and Ireland slashed the excise duty on petrol and diesel to stem surging prices at filling stations.

And major airlines Lufthansa, Cathay Pacific and Air France extended flight suspensions to destinations across the Middle East.

- Key figures at around 0210 GMT -

West Texas Intermediate: DOWN 5.2 percent at $87.52 a barrel

Brent North Sea Crude: DOWN 6.3 percent at $97.90 a barrel

Tokyo - Nikkei 225: UP 2.7 percent at 53,664.86

Hong Kong - Hang Seng Index: UP 1.0 percent at 25,321.32

Shanghai - Composite: UP 0.9 percent at 3,916.28

Euro/dollar: UP at $1.1611 from $1.1583 on Tuesday

Pound/dollar: UP at $1.3414 from $1.3381

Dollar/yen: DOWN at 158.70 yen from 159.03 yen

Euro/pound: DOWN at 86.55 pence from 86.57 pence

New York - Dow: DOWN 0.2 percent at 46,124.06 (close)

London - FTSE 100: UP 0.7 percent at 9,965.16 (close)

- Oil drops after Trump peace plan -

Crude oil prices fell sharply in early Wednesday trading after US President Donald Trump sent a peace plan to Iran and voiced optimism about ending nearly a month of war.

After rising in Europe and the United States on Tuesday, Brent crude was down six percent at $98.30, and the contract, West Texas Intermediate, was down five percent at $87.72.

The closure of the Strait of Hormuz in the Gulf has roiled energy and financial markets, with oil prices up around 40 percent since the start of the fighting.

- 'Non-hostile vessels' in Hormuz? -

Iran has said "non-hostile vessels" can transit the Strait of Hormuz if they meet safety and security regulations in coordination with the relevant authorities, the International Maritime Organization (IMO) said Tuesday.

In a statement, Iran insisted that "vessels, equipment and any assets belonging to the aggressor parties -- namely the United States and the Israeli regime -- as well as other participants in the aggression do not qualify for innocent or non-hostile passage".

- Suspect betting -

Thousands of oil contracts -- a far higher volume than normal -- were traded 15 minutes before US President Donald Trump pledged to halt strikes on Iranian energy infrastructure, sending prices tumbling, data showed Tuesday.

Bloomberg estimated the value of oil contracts that changed hands between 1049 and 1050 GMT was $650 million, with people who bet on prices dropping ahead of Trump's announcement potentially pocketing millions.

No evidence of insider trading has so far been established.

- Strike near Iran nuclear plant -

The UN nuclear watchdog said Iran informed it that "another projectile hit the premises" of the Bushehr nuclear power plant on Tuesday, without damaging the plant itself.

"IAEA Director General Rafael Grossi reiterates call for maximum restraint to avoid nuclear safety risks during conflict," the International Atomic Energy Agency (IAEA) said.

- Philippines declares 'energy emergency' -

Philippine President Ferdinand Marcos declared a state of "national energy emergency", citing risks to the domestic fuel supply.

The state of emergency was declared hours after the country's energy secretary said the Philippines planned to boost the output of its coal-fired power plants to keep electricity costs down as the war wreaks havoc with gas shipments.

- Sri Lanka switches off lights -

Sri Lanka ordered street lights, neon signs and billboard lighting to be switched off as part of measures to cut energy consumption by 25 percent and tackle supply shortages.

Government spokesman Nalinda Jayatissa said all state institutions had been asked to reduce the use of air conditioning.

Sri Lanka has already raised fuel prices by a third, and last week, President Anura Kumara Dissanayake urged electric car owners to avoid overnight charging.

- Economic activity slows -

Business activity in the eurozone and the United States slowed in March as war in the Middle East drove energy prices higher and disrupted global supply chains, surveys showed.

The HCOB Flash Eurozone purchasing managers' index (PMI) published by S&P Global fell to 50.5 from 51.9 in February. A reading above 50 indicates growth, while a figure below 50 shows contraction.

"The flash Eurozone PMI is ringing stagflation alarm bells as the war in the Middle East drives prices sharply higher while stifling growth," said Chris Williamson, chief business economist at S&P Global Market Intelligence.

Meanwhile the initial reading for the S&P composite US PMI dipped to an 11-month low of 51.4 points in March from 51.9 points in February.

- France cuts growth outlook -

France's INSEE statistics agency trimmed its growth forecast for the first and second quarters of this year to 0.2 percent as the country's economy is "struck by global turmoil".

- Bangladesh hikes jet fuel costs -

Bangladesh raised jet fuel prices by 79 percent as costs surge in the wake of the war.

The order by the Bangladesh Energy Regulatory Commission, the second this month, means jet fuel prices have surged by 111 percent since the start of the war.

- Ireland cuts fuel taxes -

Ireland slashed the excise duty on petrol and diesel in a bid to stem surging prices at filling stations.

Excise duty on diesel will fall by 20 euro cents a litre and by 15 cents a litre on petrol until the end of May, said Irish prime minister Micheal Martin.

Diesel prices have skyrocketed about 105 percent from February 26, two days before the US and Israel launched strikes on Iran. The government raised the price to 39,660 dong ($1.50) per litre Wednesday, up from 19,270 dong last month, trade ministry figures showed.

The price of 95-octane petrol also jumped nearly 68 percent over the same period, from 20,150 dong to 33,840 dong.

Bloomberg estimated the value of oil contracts that changed hands between 1049 and 1050 GMT was $650 million. At 1105 GMT, Trump stepped back from a threat to attack Iranian energy sites, citing "very good" talks to end the war in a social media post. The statement sent crude prices plunging more than 14 percent in a fresh burst of trading activity. Traders who bet on prices dropping ahead of the announcement would likely have profited from Trump's sudden reversal, prompting analysts to question whether some market participants had acted on prior information.

"What stands out here isn't just the size of the trades, but the timing," Stephen Innes, an analyst at SPI Asset Management, told AFP. "Traders are not clairvoyant. When positioning shifts minutes ahead of a market-moving headline, it usually means someone is acting on... intel before the story broke," he added. No evidence of insider trading had been established as of Tuesday.

The Chicago Mercantile Exchange (CME) and the Commodity Futures Trading Commission (CFTC), the US regulator of financial derivatives, did not immediately respond to an AFP request for comment. The White House also did not respond to an AFP request for comment on the issue. Similarly, S&P 500 stock index futures showed an unusual burst of trading activity early Monday, about 15 minutes before Trump's social media post, CNBC reported. US Senator Chris Murphy, responding to a social media post that alleged a single $1.5 billion purchase of S&P 500 futures just before Trump's announcement, called it an example of "mind blowing corruption."

"A $1.5 BILLION BET... 5 minutes before Trump's post. Who was it? Trump? A family member? A White House staffer? This is corruption. Mind blowing corruption," the Democratic lawmaker said on X. The speculation about insider trading has also spread to prediction markets, which allow people to bet on the likelihood of thousands of global events. CNN reported that one trader made $1 million from dozens of well-timed bets on Polymarket that correctly predicted US and Israeli military actions against Iran.

Based on findings from Bubblemaps, an analytics company that tracks blockchain transactions, this particular bettor has had a pattern of prescient bets, including hours before Israeli's October 2024 strikes on Iran, CNN reported. Innes noted that the oil market is "not just traders speculating on price; it's a tightly connected ecosystem of physical players, refiners, shippers and governments, all operating within overlapping information channels."

He added that the activity could have been driven by a large producer hedging against a potential price drop, given that oil futures had surged 40 percent since the start of the war. A few hours after Trump's announcement, Tehran's parliamentary speaker, Mohammad Bagher Ghalibaf, reportedly involved in talks, said "no negotiations" were under way, insisting Trump was seeking "to manipulate the financial and oil markets."

Rising clothes prices last month were "offset by falls in petrol costs, with prices collected before the start of the conflict in the Middle East and subsequent rise in crude oil prices", noted Grant Fitzner, chief economist at the Office for National Statistics.

Market indices observed sideways momentum for most of today’s session as investor participation remained prevalent on both sides of the trading fence. However, buyers emerged in the final hour that drove broad-based price appreciation by the session's close. Apparently, market turnover increased by 22.6% to Taka 6 billion from Taka 4.9 billion in the previous session. 

On the sectoral front, Engineering (13.6%) accounted for the highest share of turnover, followed by Pharma (12.7%) and Bank (11.1%). Almost all the sectors displayed positive returns, out of which Mutual Fund (3.7%), General Insurance (3.1%), Life Insurance (2.8%) exhibited the most positive returns while Services (-1.0%), Telecom (-0.7%), Cement (-0.2%) exhibited the most corrections returns on the bourse today. Of the 397 issues traded, 241 advanced, 100 declined, and 55 remained unchanged. The port city bourse, CSE, however settled on a negative territory. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) declined by 16.6 points and 39.3 points, respectively.

According to the regulatory decision, the bond is structured with a tenure ranging from a minimum of six months to a maximum of five years. The face value per unit of the instrument has been set at Taka 10 lakh, bringing the aggregate face value of the entire issuance to Taka 500 crore. The commission has authorized the issuance of the bond through private placement. Subscription to the debt instrument is limited to specific categories of eligible investors, including banks, non-bank financial institutions, insurance companies, institutional investors, and high-net-worth individuals.

To facilitate the transaction and ensure regulatory compliance, Sena Insurance PLC has been appointed as the Trustee for the bond. Furthermore, North Star Investments (BD) Limited will serve as the fund arranger for the issuance. BSEC Director and Spokesperson Md. Abul Kalam confirmed the details of the approval through a formal press release, noting that the decision reflects the commission's ongoing mandate to oversee and regulate the country's securities market.

The container throughput for the period was 54,898 TEUs, with 28,961 TEUs of import goods and 25,937 TEUs of export items. Despite the holiday, vessel traffic at the port remained smooth, with 64 ships berthing during the week, averaging more than nine vessels per day. Daily activity peaked on March 18, with the port handling 434,434 tonnes of cargo and 11,861 TEUs of containers, the highest for the week. 

On Eid day, March 21, operations slowed down with cargo handling dropping to 255,874 tonnes and container movement to 962 TEUs, as only three vessels berthed the lowest for the week. Officials highlighted the port's ability to maintain essential services and keep supply chains functioning during the holiday period. Syed Refayet Hamim, the port authority's secretary, mentioned that operations were mostly normal except on Eid day. Special measures were taken to ensure uninterrupted supply, although delivery operations were slower due to transport workers being on holiday. Operations are expected to pick up as government and private offices reopen.

The Chattogram Port Authority ensures key operations continue during major holidays to prevent congestion and ensure timely delivery of essential imports and industrial raw materials. 

Equity markets in New York jumped and crude plunged Monday after the US president made the surprise announcement that he would hold off fresh attacks on energy infrastructure for five days following negotiations with an unidentified "top person".

The news ramped up hopes for an end to the conflict and the reopening of the Strait of Hormuz, through which a fifth of oil and gas flows.

Brent slumped as much as 14 percent at one point to $96, while all three main indexes on Wall Street climbed more than one percent, with commentators suggesting prices could drop to as low as $90.

However, the mood was deflated somewhat after Iranian media said there had been no talks between Tehran and Washington.

And the Fars news agency reported that Deputy Speaker of Parliament Ali Nikzad said there would be no talks, while the Strait of Hormuz would remain effectively closed.

Asian markets enjoyed a positive start, with Tokyo, Hong Kong, Shanghai, Sydney, Seoul, Taipei and Manila all up, though the gains were pared as the morning wore on. Singapore and Wellington both fell.

Crude bounced, with both main contracts up more than three percent as investors remain sceptical about the chances of a breakthrough in talks.

And the dollar climbed against the euro, pound and yen after sinking on Monday.

Markets had started the week deep in the red after Trump warned Saturday that Iran had 48 hours to allow traffic through Hormuz or he would strike the country's energy infrastructure. Tehran replied by saying the waterway "will be completely closed" should he act on his threat.

His decision to U-turn hours before the deadline came up was pounced on by observers as another example of a TACO moment -- an acronym of "Trump Always Chickens Out" -- in which he escalates before pulling back from the brink.

But Stephen Innes at SPI Asset Management warned the president may have overplayed his hand.

"You can talk down a market. You can jawbone crude lower. You can release emergency reserves and tweak sanctions to flood the tape with supply optics," he wrote.

"But you cannot instantly repair disrupted shipping lanes, fractured refining capacity, or the insurance black hole forming around tanker traffic. The market may trade the headline in the short term, but it settles on the barrel in the medium term. And right now the barrel is still constrained."

Meanwhile, the Wall Street Journal reported that Saudi Arabia and the United Arab Emirates were considering joining the fight following persistent and damaging attacks from Iran since the US-Israel strikes began on February 28.

The article said they were not deploying troops but pressure was building on them to do so as Tehran looks to exert greater sway over the region.

Elsewhere, the European Union and Australia struck a long-awaited free trade deal on Tuesday as they completed years of negotiations to boost exports in the face of global uncertainty over trade.

They also signed an agreement to step up defence cooperation as well as critical raw materials.

- Key figures at around 0230 GMT -

Brent North Sea Crude: UP 3.7 percent at $103.60 per barrel

West Texas Intermediate: UP 3.8 percent at $91.48 per barrel

Tokyo - Nikkei 225: UP 0.8 percent at 51,910.42 (break)

Hong Kong - Hang Seng Index: UP 0.8 percent at 24,568.43

Shanghai - Composite: UP 0.3 percent at 3,824.09

Euro/dollar: DOWN at $1.1585 from $1.1616 on Monday

Pound/dollar: DOWN at $1.3395 from $1.3437

Dollar/yen: UP at 158.62 yen from 158.34 yen

Euro/pound: UP at 86.50 pence from 86.45 pence

New York - Dow: UP 1.4 percent at 46,208.47 points (close)

London - FTSE 100: DOWN 0.2 percent at 9,894.15 (close)

- Oil jumps after Iran facilities hit -

Oil prices surged after Israeli strikes hit Iranian facilities at a major Gulf gas field, prompting Tehran to call for retaliatory strikes on energy infrastructure.

Brent oil rose over six percent at one point to nearly $110 a barrel, before finishing at $107.38, up 3.8 percent.

The strikes hit the South Pars/North Dome mega-field, the largest known gas reserve in the world, supplying around 70 percent of Iran's domestic natural gas.

- Fed raises inflation outlook -

The US Federal Reserve raised its outlook for inflation as it held interest rates steady, citing an "uncertain" economic outlook due to the war in Iran.

Fed Chair Jerome Powell said he expected higher energy prices to boost inflation in the near term, though he added that further economic impacts remain uncertain.

The European Central Bank and the Bank of England follow Thursday.

- Iranian retaliation keeps oil market on edge -

Iran launched attacks targeting oil and gas facilities around the Gulf.

QatarEnergy said emergency teams had brought under control a fire caused by an Iranian attack on the country's main gas facility that caused "extensive damage" at the site.

Qatar later ordered Iran's military and security attaches along with their staff to leave the country within 24 hours.

Saudi Arabia's defense ministry said on Wednesday that five drones approaching an energy facility were intercepted in the kingdom's east, while Emirati air defense was countering an Iranian missile threat.

- Trump waives shipping law -

President Donald Trump temporarily waived a century-old shipping law to help ease energy costs that have surged since US-Israeli strikes on Iran plunged the Middle East into war.

Trump's move to issue a 60-day Jones Act waiver would lift a ban on foreign-flagged vessels transporting cargo between US ports over this period.

Separately, the US Treasury Department issued a license Wednesday to authorize certain transactions between established US entities and Venezuela's state-owned oil company PDVSA.

- Italian govt acts to reduce fuel prices -

Italy adopted by decree measures to reduce fuel prices in the country, the government said, in response to spiking prices due to the war.

"We are reducing the price of fuel by around 0.25 euros (28 US cents) per liter for everyone," along with a tax credit for truckers, Prime Minister Giorgia Meloni wrote on social media.

- Iraq exports via Turkey -

Iraq announced it had resumed limited oil exports through the Turkish port of Ceyhan, using a pipeline that avoids the Strait of Hormuz.

The state-owned North Oil Company said it was sending an initial 250,000 barrels a day from its fields in the northern Kirkuk province through the pipeline, well below the 3.5 million barrels a day it has shipped in normal times from its southern Basra fields via the Strait of Hormuz.

But Iraq officials said the country's gas imports from Iran were completely halted. The news came as Iran denounced the South Pars attack.

- Ship fuel prices soaring -

Shipping fuel prices have reached "truly unprecedented" levels, having nearly doubled from the cargo crunch driven by the Middle East war, an industry leader told AFP Wednesday.

- Asia petrochemical output slows -

The Middle East war is forcing petrochemical giants in key Asian economies to cut production as the conflict rattles supplies of naphtha, a crucial oil-derived component used to make a range of plastic goods.

Mitsubishi Chemical and Mitsui Chemicals have cut output, Shin-Etsu Chemical said it would raise prices, and LG Chem warned it may not be able to fulfil some orders.

- Emergency shipping talks -

The International Maritime Organization began an "extraordinary session" to discuss shipping amid the war.

The IMO's 40-member council could vote Thursday on several proposed resolutions, including one to "establish a safe maritime corridor to allow the safe evacuation of seafarers and ships stranded in the Persian Gulf".

However, if passed, resolutions remain non-binding.

- South Korea secures UAE oil -

South Korea said it would receive an additional 18 million barrels of oil from the United Arab Emirates through alternative supply channels, bypassing the need to use the Strait of Hormuz.

The presidential chief of staff declined to elaborate on the route.

About 70 percent of South Korea's oil imports normally pass through the strait.

- Sri Lanka unplugs EVs -

Sri Lanka has urged electric vehicle owners to stop charging their cars at night, saying the surge in demand is forcing the country to burn more coal and diesel to keep the power grid running.

Faced with an energy crisis driven by the war, Sri Lanka has begun rationing fuel and has also imposed a four-day working week in a bid to reduce travel.

- BASF raises prices -

German chemicals giant BASF raised prices on some of its industrial products in Europe by 30 percent due to rising energy and input prices triggered by the war in the Middle East.

Since returning to power in 2023, leftist leader Luiz Inacio Lula da Silva has called for a rate cut to stimulate the economy of the South American giant, as the 80-year-old leader seeks a fourth term in elections set for October. "The international environment has become more uncertain with the escalation of geopolitical conflicts in the Middle East, with consequences for global finance," the central bank's Monetary Policy Committee said.

"Such a situation demands caution on the part of emerging economies, in a context of increased price volatility for financial assets and raw materials," it added. Lula has already announced temporary measures to limit fuel price increases after global oil prices surged when Iran moved to block tanker traffic through the Strait of Hormuz, a key Gulf transit route. In particular his government suspended taxes on diesel fuel, which Brazilian truckers rely on to get goods to stores.

Brazil's inflation slowed to an annual rate of 3.8 percent in February, within the range targeted by the central bank. But economists noted the decline was due in part to lower fuel prices -- which could again turn higher if the war in the Middle East drags on.

However, analysts warned the positive mood could fade if the crisis drags on and energy costs spiral with Hormuz -- through which a fifth of global oil and gas flow -- effectively closed by Iran as an economic weapon. That comes with central banks increasingly in a bind as the need for lower interest rates to support the economy goes up against the prospect of rising prices, which would need higher borrowing costs. In a bid to ease traffic through the crucial Strait, US forces dropped several 5,000-pound (2,250 kg) bombs on "hardened Iranian missile sites" near the coast, Central Command said.

Iran has sought to extract a heavy toll on the global economy in retaliation for the US-Israeli attack, including by driving up the cost of oil. US President Donald Trump on Tuesday fumed that allies, which have largely distanced themselves from his war, were not lining up to help escort tankers through Hormuz. The attacks came as Israel announced it had killed security chief Ali Larijani, a key force leading Iran since the death of Supreme Leader Ayatollah Ali Khamenei in the first strikes of the war. Meanwhile, Saudi Arabia intercepted six drones and Kuwait's air defences responded to a rocket and drone attack, authorities from both countries said Wednesday, while two people were killed by missiles near Tel Aviv.

Israel also hit a central Beirut neighbourhood as it looks to take out the Iran-backed Hezbollah. Rystad Energy estimated just 12.5 million barrels per day of Middle Eastern oil remains online, down from the 21 million per day pre-war base. "But the 12.5 million bpd figure is not secure," Rystad said. "If the (Hormuz) situation persists, the drop in departures could start feeding through into additional export losses in the weeks ahead, as producers face growing difficulty moving crude out of the Gulf."

Still, oil prices fell, with West Texas Intermediate losing more than one percent to sit around $95, while Brent dipped 0.8 percent, though it was still holding above $102. And stocks continued to defy gravity following gains on Wall Street that were helped by tech giants including Apple and Amazon. Seoul jumped more than three percent thanks to a surge in chip giants Samsung and SK hynix. The Kospi, however, is still well down from the record highs touched before the war broke out.

Tokyo was up more than two percent, while Taipei, Sydney, Singapore and Wellington also rallied. Hong Kong and Shanghai dipped. "Asia is picking up the baton with a cautiously constructive tone... all of it leaning on the signal from Wall Street where the S&P and Nasdaq have now strung together a second day of gains, suggesting the market is actively choosing to look through the geopolitical noise rather than price it in the fore," wrote SPI Asset Management's Stephen Innes.

However, Fawad Razaqzada at Forex.com warned that traders might begin to rethink their positions the longer the conflict rumbles on. "If the war continues then the US and Israel will have to continue alone, because other NATO members have decided against joining the conflict," he wrote. "This may work in favour of Iran keeping the Strait of Hormuz closed for longer." Focus is also on the Federal Reserve's policy meeting that concludes later Wednesday.

The bank is expected to keep borrowing costs on hold but it will release its "dot plot" forecast for rates in the coming months, amid speculation it could be forced to hike again.

- Key figures at around 0230 GMT -

Brent North Sea Crude: DOWN 0.7 percent at $102.66 per barrel

West Texas Intermediate: DOWN 1.2 percent at $95.03 per barrel

Tokyo - Nikkei 225: UP 2.2 percent at 54,898.44 (break)

Hong Kong - Hang Seng Index: DOWN 0.2 percent at 25,829.00

Shanghai - Composite: DOWN 0.2 percent at 4,041.19

Euro/dollar: DOWN at $1.1533 from $1.1536 on Tuesday

Pound/dollar: DOWN at $1.3351 from $1.3352

Dollar/yen: DOWN at 159.00 yen from 159.05 yen

Euro/pound: UP at 86.39 pence from 86.38 pence

New York - Dow: UP 0.1 percent at 46,993.26 (close)

London - FTSE 100: UP 0.8 percent at 10,403.60 (close)

Fourth?quarter growth eased from 5.6 percent a year earlier, the Department of Census and Statistics said. But full?year growth held steady at 5.0 percent, matching 2024. Officials said the lifting of a five?year ban on vehicle imports helped boost economic activity, alongside a stable exchange rate and higher electricity generation. Sri Lanka is still recovering from its worst economic meltdown in 2022, when the island ran out of foreign exchange to finance even the most essential imports such as food, fuel and medicines.

Since then, the country has secured a $2.9 billion IMF bailout and has been following a reform agenda aimed at maintaining stability. However, the World Bank warned late last year that Sri Lanka's recovery remained "uneven and incomplete", with many households yet to regain livelihoods lost during the 2022 crisis. The World Bank had forecast Sri Lanka's economy to grow 4.6 percent last year, but the country performed slightly better according to the statistics department's figure.

Sri Lanka's economy suffered its worst recession in 2022, contracting 7.3 percent, when then-president Gotabaya Rajapaksa was forced to resign following months of street protests. The leftist administration of President Anura Kumara Dissanayake, who came to power in late 2024, has retained many of the austerity measures and high taxes introduced by his predecessor.

Improved access to the European market for Australia's lamb and beef is among the few issues still to be resolved for Canberra to commit to a deal and officials have indicated the final hurdles need to be discussed between the leaders. "I look forward to welcoming President von der Leyen to Australia and continuing discussions to further expand our cooperation," Albanese said in a statement.

"Australia and Europe are friends and partners, working together to advance peace, security and economic prosperity," he said. Australia's largest export market is China, and the United States its largest source of investment. Officials have redoubled efforts to diversify export markets for farmers since a 2020 dispute with Beijing saw agriculture exports blocked for several years, and then last year's global imposition of US trade tariffs.

The European Union is Australia's third largest two-way trading partner and second largest source of foreign investment. Trade Minister Don Farrell, who spoke on Tuesday with Sefcovic, told Sky News Australia that an EU deal would add Aus$10 billion (US$7.1 billion) in trade for Australia in the first year. "They are potentially our second largest trading partner if we can pull this off, and we've just got to get over those last few hurdles," he said.

Australia has previously said it could drop a luxury car tax on European vehicles in return for greater access to EU agriculture market. Australia's use of geographical indicator names for cheese and wine products, was an earlier sticking point.

Around 0630 GMT, a barrel of WTI was down 4.26 percent at $92.11, retreating after an almost three percent jump the previous day. Brent crude, the global market benchmark, was down 2.82 percent at $100.50 a barrel.

“The government places a high priority on large-scale job creation, alongside skills and investment, and the World Bank Group shares this commitment,” said Zutt.

In this context, we are stepping up our focus on supporting the government priority of creating jobs, notably for youth and women.” he added.

Zutt met with the Finance and Planning Minister, Commerce Minister, Prime Minister’s Adviser on Finance and Planning, and the Bangladesh Bank Governor to discuss the government’s development priorities and the areas in which the World Bank Group can help, said a World Bank press release today.

“In the past decade, 14 million youth entered Bangladesh’s labor market, competing for only 8.7 million jobs. This means that nearly half of working-age youth did not find jobs. Young women face particularly steep barriers. With global uncertainties rising, it is urgent for the government to undertake the long-pending macro-economic and financial sector reforms that are needed to address foundational bottlenecks to economic growth and job creation,” Zutt added. 

The World Bank Group is helping countries to build economies that convert growth into local jobs—not by shifting work from developed countries, but by unlocking opportunity where people already live. 

To accelerate job creation at scale, the World Bank Group invests in the foundational physical and human infrastructure for jobs, supports a business-friendly environment, and mobilizes private capital.

The World Bank was among the first development partners to support Bangladesh following its independence and has committed more than $46 billion in International Development Association (IDA) financing in the form of grants, interest-free loans, and concessional credits to help the country address its development priorities.

The figure topped a forecast of 2.5 percent in a Bloomberg survey of economists. China's authorities typically combine data for the first two months of the year to account for distortions caused by the varying Lunar New Year holiday, which normally sees a boost in activity.

The retail sales growth announced Monday was the largest since October but fell short of the jumps recorded during the same months in past years, including four percent in 2025. Industrial production rose 6.3 percent in January-February, the NBS data showed. That also beat the 5.3 percent forecast in the Bloomberg survey. And fixed asset investment leapt back into positive territory, rising 1.8 percent during the same period, the NBS said.

He also warned attacks could expand to energy infrastructure if the Islamic republic interferes with transit through Hormuz, which has been effectively closed since the US-Israel operations began on February 28. Iran's Fars news agency reported soon after that no oil infrastructure was damaged in strikes. Trump urged other countries to send warships to keep the waterway open but offered no specifics or commitments from the US side, saying he hoped China, France, Japan, South Korea and the UK would take part.

He later wrote Saturday in a Truth Social post: "The Countries of the World that receive Oil through the Hormuz Strait must take care of that passage, and we will help -- A LOT! "This should have always been a team effort, and now it will be." However, Japan said Monday it was "not at the moment considering issuing a maritime security operation", while Australia announced it would not send any navy ships to the region.

Trump said Tehran wanted a deal to end the fighting, but that he was not prepared to make one on current terms, without giving further details. Iran's Foreign Minister Abbas Araghchi said his country was not interested in talks with Washington. "We don't see any reason why we should talk with Americans, because we were talking with them when they decided to attack us," he told CBS's "Face The Nation" in an interview aired Sunday. "There is no good experience talking with Americans," adding that "we never asked for a ceasefire, and we have never asked even for negotiation".

However, he did say he was ready to speak to countries "who want to talk to us about the safe passage of their vessels". "I cannot mention any country in particular, but we have been approached by a number of countries" seeking such safe passage, he added. Meanwhile, traders hoping for an early end to the conflict were left disappointed after Trump's top economics adviser Kevin Hassett said the Pentagon estimates it could take up to six weeks, though the operation was ahead of schedule.

Both main crude contracts advanced. Brent shot up around three percent to as high as $106.50 before paring the gains, while West Texas Intermediate sat around $99. And with worries growing about a possible energy crisis that could hammer the global economy, equity markets remained under pressure. Tokyo, Shanghai, Sydney, Seoul, Wellington, Manila and Jakarta were all down, though Hong Kong, Singapore and Taipei edged up.

"Equities may welcome any sign that Hormuz could be reopened, but with further strikes still being threatened and diplomacy still patchy, conviction is low," said Charu Chanana at Saxo Markets. Adding to economic concerns was data showing Friday that fourth-quarter US gross domestic product expanded 0.7 percent, much slower than the initial reading of 1.4 percent. And delayed figures showed the Federal Reserve's preferred inflation gauge dipped to 2.8 percent in January before energy prices shot higher.

"Developments over the weekend, while no more disconcerting than at the end of last week, don't offer any obvious pretext for a less pessimistic start to the new trading week," warned National Australia Bank's Ray Attrill. Also in view this week are policy meetings at seven major central banks including the Fed, Bank of England and the European Central Bank. While they are expected to stand pat on interest rates, any remarks on the impact of the war on their respective economies will be closely followed.

- Key figures at around 0230 GMT -

West Texas Intermediate: UP 0.1 percent at $98.75 per barrel

Brent North Sea Crude: UP 1.0 percent at $104.21 per barrel

Tokyo - Nikkei 225: DOWN 1.3 percent at 53,138.42 (break)

Hong Kong - Hang Seng Index: UP 0.3 percent at 25,550.23

Shanghai - Composite: DOWN 0.9 percent at 4,059.70

Euro/dollar: UP at $1.1448 from $1.1416 on Friday

Pound/dollar: UP at $1.3255 from $1.3223

Dollar/yen: DOWN at 159.57 yen from 159.74 yen

Euro/pound: UP at 86.37 pence from 86.33 pence

New York - Dow: DOWN 0.3 percent at 46,558.47 points (close)

London - FTSE 100: DOWN 0.4 percent at 10,261.15 (close)

Commercial activities are scheduled to resume on March 28. The association said the decision was taken after discussions with local traders. A formal notification regarding the closure has been sent to the relevant authorities of both Bangladesh and India. The letter, signed by the association's General Secretary ASM Niaz Nahid, has been delivered to the Burimari Land Customs Station, Land Port Authority, district administration, police administration, Border Guard Bangladesh (BGB), India's Changrabandha Customs, the Border Security Force (BSF), as well as customs authorities in Bhutan and transport and labour organisations of both countries.

Burimari C&F Agents Association President Faruk Hossain said the temporary suspension of commercial activities was agreed upon in consultation with traders to mark the religious and national occasions. "Commercial operations will remain closed for 11 days during Shab-e-Qadr, Eid-ul-Fitr and Independence Day. All activities will resume as usual from March 28," he said. Despite the suspension of trade, cross-border passenger movement will continue normally during the period.

Sub-Inspector Saifur Rahman, officer-in-charge of the Burimari Land Port Police Immigration Post, confirmed that travelers holding valid passports and visas will be able to cross the border through the immigration check post as usual. Meanwhile, Assistant Director (Traffic) of the Burimari Land Port Authority Mahmudul Hasan said port operations naturally remain inactive when traders suspend their activities. Deputy Commissioner of the Burimari Land Customs Station Muhammad Mohi Uddin added that internal customs operations will continue on a limited scale during the holiday period.

The revenue authority has made online submission of income tax returns mandatory for most individual taxpayers for the current tax year, with a few exceptions. According to NBR data, nearly five million individual taxpayers have already registered in its e-Return system, while about 4.1 million taxpayers have so far submitted their returns. However, taxpayers who submit an application before the deadline may receive an additional extension of up to 90 days, subject to approval by the concerned tax commissioner.

To make the extension process easier, faster and more transparent, the NBR introduced the online facility through its e-Return system. Taxpayers can now log in and apply for an extension using the "Time Extension" option in the system. Based on the online application, the concerned tax commissioner of the respective tax zone will approve or reject the request through the system.

If the request is approved, taxpayers will be able to submit their income tax returns within the extended period without paying any penalty or additional tax. The NBR said taxpayers must be registered in the e-Return system and submit their application before March 31, 2026 to avail the online extension facility. Taxpayers for whom online return submission is not mandatory may apply for an extension either through the online system or by submitting a written application directly to the relevant tax circle. The revenue authority urged all individual taxpayers to submit their returns for the 2025-2026 tax year through the e-Return system by March 31, 2026, or within the extended deadline approved by the tax commissioner.

Its oil infrastructure has also suffered from years of underinvestment, with the country currently producing only a few million barrels per day despite having the world's largest oil reserves. But since January, the US has eased a seven-year-old oil embargo on Venezuela and issued licenses allowing a handful of multinationals to operate in the country under certain conditions. On Friday, the US also authorized imports of fertilizer from Venezuela, as the US-Israel war against Iran drives up prices of the key agricultural commodity.

"Unilateral coercive measures against the Venezuelan people also affect people across Latin America," Rodriguez said during a meeting with a Colombian delegation in Caracas. "It affects the economy of Colombia, the economy of Venezuela, and our people," she said. The talks in Caracas aimed to mark a thaw in relations between the two South American neighbors, with Rodriguez now pushing Colombian rebels back across the border. The Trump administration has pressed both sides to tackle groups operating across the border like the National Liberation Army, or ELN, a leftist guerrilla group deeply involved in the drug trade.

"This is a problem we have as countries and we are determined to make progress together," Rodriguez said. Her predecessor Maduro and his wife Cilia Flores were taken by US forces to New York to face trial on drug trafficking charges. They have pleaded not guilty. 

But stocks slid back into the red as Brent climbed back above the $100 mark. It closed at $103.14 per barrel, and has soared by more than 42 percent since the start of the conflict. US-Israeli strikes on Iran on February 28 plunged the Middle East into war, sparking a surge in fuel prices as Tehran vowed to choke the Strait of Hormuz -- a critical artery for global energy transport. "Crude oil is continuing to dictate direction for markets as we head towards the end of a volatile week," said Fawad Razaqzada, market analyst with Forex.com.

"The pressure remains with no end in sight in the Middle East conflict," Razaqzada added. "Traders are trying to figure out what a fair value for crude oil is right now, given the big release of emergency oil reserves, and the temporary relaxation of sanctions on Russian oil sales that's already at sea," he said. Iran's threats over the Strait of Hormuz, through which a fifth of global crude oil and liquefied natural gas passes, is causing worries of rising prices rippling through the world economy. "Fears of a burgeoning energy crisis remain front and center for investors," noted Joshua Mahony, chief market analyst at Scope Markets.

"Inflationary fears are particularly prevalent," Mahony added. Major central banks, which prior to the war's outbreak were heavily forecast to keep cutting interest rates, are now widely expected next week to freeze borrowing costs or even hike them to keep a lid on inflation. An unprecedented seven central banks are due to hold meetings on interest rates next week. Investors also digested updated US economic growth data for the fourth quarter, which was revised down to 0.7 percent from an initial reading of 1.4 percent.

And delayed data showed the US Federal Reserve's preferred inflation gauge had dipped to 2.8 percent in January. This is still higher than the Fed's two-percent inflation target, and reflects a period before energy prices shot higher. The US central bank now faces an environment where inflation remains sticky and could soon be boosted by energy prices, while GDP growth and the labor market continue to lose momentum, said eToro US Investment Analyst, Bret Kenwell.

On foreign exchange markets, the dollar held gains against major rivals owing to its safe-haven status and expectations that US interest rates will remain elevated longer than expected. AJ Bell investment director Russ Mould said next week's central bank meetings "come at a delicate time." "Markets will be watching closely for any signals on how they plan to deal with surging oil and gas prices and whether they see it as a short-term bump to look through."

- Key figures at around 2055 GMT -

Brent North Sea Crude: UP 2.7 percent at $103.14 per barrel

West Texas Intermediate: UP 3.1 percent at $98.71 per barrel

New York - Dow: DOWN 0.3 percent at 46,558.47 points (close)

New York - S&P 500: DOWN 0.6 percent at 6,632.19 (close)

New York - Nasdaq Composite: DOWN 0.9 percent at 22,105.36 (close)

London - FTSE 100: DOWN 0.4 percent at 10,261.15 (close)

Paris - CAC 40: DOWN 0.9 percent at 7,911.53 (close)

Frankfurt - DAX: DOWN 0.6 percent at 23,447.29 (close)

Tokyo - Nikkei 225: DOWN 1.2 percent at 53,819.61 (close)

Hong Kong - Hang Seng Index: DOWN 1.0 percent at 25,465.60 (close)

Shanghai - Composite: DOWN 0.8 percent at 4,095.45 (close)

Euro/dollar: DOWN at $1.1416 from $1.1514 on Thursday

Pound/dollar: DOWN at $1.3223 from $1.3346

Dollar/yen: UP at 159.74 yen from 159.39 yen

Euro/pound: UP at 86.33 pence from 86.27 pence

- Iran threatens oil and gas sector -

Iran has threatened to "set the region's oil and gas on fire with the slightest attack on Iran's energy infrastructure and ports", said a spokesman for its military central operational command.

- Brent closes above $100 -

Oil prices jumped Thursday with Brent crude settling above $100 a barrel for the first time since August 2022. It surged 9.2 percent to $100.46 a barrel.

The rise in energy prices could cause price hikes throughout the global economy.

- Iran vows to keep Strait of Hormuz closed -

Iran's new supreme leader Mojtaba Khamenei called for using "the lever of blocking the Strait of Hormuz", which the country's Revolutionary Guards vowed to carry out.

The strait is a key waterway through which a fifth of global crude passes.

Earlier, Energy Secretary Chris Wright said the US military was "not ready" to escort tankers through the strait as all its assets are focused on striking Iran.

- 'Historic' fallout: IEA -

The Middle East war "is creating the largest supply disruption in the history of the global oil market" as Iran's chokehold on regional supplies forces Gulf producers to slash production, the International Energy Agency said.

It noted that crude production is down by at least 8.0 million barrels per day.

- Deadly attacks on tankers off Iraq -

An attack on two oil tankers off Iraq killed at least one crew member, an Indian national, as Iran pressed a campaign to disrupt global energy markets in retaliation for US and Israeli strikes.

The other crew members were rescued, Farhan Al-Fartousi, from Iraq's General Company for Ports, told AFP.

- Cargo ship catches fire after hit with shrapnel -

German shipowners Hapag-Lloyd said that one of their cargo vessels in the Gulf caught fire after being "hit with shrapnel" overnight, adding that no one was injured.

"We don't know where (the debris) came from, whether it was a rocket or a drone" or another munition, a company spokesman told AFP.

- Drone falls near Dubai finance hub -

A drone fell near Dubai's financial district, an AFP journalist saw, a day after some companies evacuated the area following Iranian threats against economic targets linked to the US and Israel.

Kuwait's international airport saw damage from drone attacks, civil aviation said.

- China cuts refined oil exports -

China has tightened export curbs on refined oil products, Bloomberg News reported, as Beijing seeks to shield its economy from the war.

The world's second-largest economy is the biggest importer of crude oil, with its refining operations mainly serving the country's massive domestic market.

- Countries try to limit cost pressures -

South Korea said a fuel price cap would be imposed to mitigate pressure on the country's energy supply during the Iran war, the first such measure introduced there.

The country is heavily reliant on energy imports, including shipments through the Strait of Hormuz.

Spain's government also said it would soon present a plan to contain the war's impact on electricity and fuel prices.

- Airlines react to higher fuel prices -

New Zealand's national airline said it would cancel 1,100 flights over the next two months.

Hong Kong aviation giant Cathay Pacific announced new jet fuel surcharges for most routes, and Air France-KLM said it was raising ticket prices.

- TotalEnergies says shuts 15% output -

TotalEnergies said it had shut down 15 percent of its total oil and gas production due to the war in the Middle East.

The move came after Washington last week temporarily allowed Russian oil that was stranded at sea to be sold to India. US Treasury Secretary Scott Bessent said in a statement that the latest authorization aimed to "increase the global reach of existing supply." But he insisted this was a "narrowly tailored, short-term measure." He added it would not provide "significant financial benefit to the Russian government, which derives the majority of its energy revenue from taxes assessed at the point of extraction."

Bessent had earlier said President Donald Trump's administration was considering lifting sanctions on more Russian oil. War in the Middle East has upended the world's energy and transport sectors, virtually halting activity in the critical Strait of Hormuz through which a fifth of global oil transits.

The US-Israel strikes on Iran and Tehran's retaliatory attacks across the Gulf region have upended the world's energy and transport sectors, virtually halting activity in the strategically vital Strait of Hormuz. The United States is temporarily allowing the sale of oil from Russia -- one of the world's largest oil producers and exporters -- that is at sea, the Treasury Department said Thursday, as nations scrambled to boost supply and bring down prices.

Oil prices soared to almost $120 a barrel this week, the highest price since the pandemic. Russia's economic envoy Kirill Dmitriev said on Friday that it was "increasingly inevitable" that Washington would lift more sanctions. "The United States is effectively acknowledging the obvious: without Russian oil, the global energy market cannot remain stable," Dmitriev posted on Telegram.

"Amid the growing energy crisis, further easing of restrictions on Russian energy sources appears increasingly inevitable, despite resistance from some in the Brussels bureaucracy," he added. But French President Emmanuel Macron, whose country holds the rotating presidency of the Group of Seven advanced economies, said that the Strait of Hormuz's shutdown "in no way" justified lifting the sanctions on Russia.

"The consensus was that we should not change our position on Russia and should maintain our efforts on Ukraine," Macron told a G7 videoconference discussing the economic fallout from the US-Israeli war with Iran. On Thursday, the Treasury issued a license authorizing the delivery and sale of Russian crude oil and petroleum products that have been loaded on vessels on or before 12:01 am Eastern Time March 12, through 12:01 am on April 11.

The move came after Washington last week temporarily allowed Russian oil that was stranded at sea to be sold to India. US Treasury Secretary Scott Bessent insisted that the India authorization was a "narrowly tailored, short-term measure." He said in a statement it would not provide "significant financial benefit to the Russian government, which derives the majority of its energy revenue from taxes assessed at the point of extraction." Dmitriev said earlier this week he had joined a "productive meeting" with US negotiators in Florida, the first talks between Moscow and Washington since the start of the Iran war.

"This will allow the release of up to 762 million litres of petrol and diesel from Australia's domestic reserves, where these can be targeted towards localised market disruption," he said in a statement. "This will take time to move through Australia's long and complex supply chain from where fuel is held to the regional areas where it's needed," he said. Australia's government has blamed price gouging by retailers for rising domestic costs of fuel.

Bowen said on Friday: "I ask Australians to buy as much fuel as you need. No more, no less." He said people selling fuel at inflated prices were engaging in actions that were "un-Australian" and "dangerous". "It shouldn't be done," he said. In the most populous state of New South Wales, police warned rural residents on Friday about increasing fuel theft as prices rose. Police are investigating the disappearance of 800 litres of diesel from a farm in the state's west. "Be aware of any vehicles that you may not recognise in your local community," said detective acting inspector Andrew Maclean.

Meanwhile, the government has insisted the country's fuel supply is secure. On Thursday, Canberra said it would adjust fuel quality standards to allow higher sulphur levels for around two months in a move it said would release 100 million litres into the domestic supply. Oil prices on Thursday topped $100 a barrel again after Iranian attacks on shipping effectively closed the Strait of Hormuz -- a response to the US-Israeli strikes that killed Supreme Leader Ayatollah Ali Khamenei.

Responding to Friday's data, finance minister Rachel Reeves acknowledged "there is more to do" to grow the UK economy "in an uncertain world". On Monday, she warned that Britain risked rising inflation as a consequence of the war involving Iran, the United States and Israel. January's growth data "is almost entirely overshadowed by events in the Middle East, with oil prices continuing to climb despite the release of emergency reserves and fears growing over unprecedented supply disruption", noted analyst Samuel Edwards at financial services firm Ebury.

"With the UK heavily exposed to this inflationary shock, businesses across the country will be bracing for a surge in energy and fuel costs and interest rates staying higher for longer." The Bank of England, which before the start of the war, was widely expected to cut its benchmark interest rate next week, is now forecast to freeze borrowing costs or even hike because of inflation risks. And "GDP growth is more likely to lose momentum in the coming months rather than gain it", said Paul Dales, chief UK economist at Capital Economics research group. "An energy price shock also reduces GDP growth," he added.

Navana Pharmaceuticals was listed on the country’s stock market in late 2022. At the time the pharmaceutical and chemical sector company was led by its managing director Dr. Junaid Shafique. After the fall of the Awami League government on 5 August 2024 he reportedly left Bangladesh and later resigned from all positions connected with the company. Several legal cases have since been filed against him.

Analysts say the situation has taken a different dimension since the political transition. Individuals familiar with the developments claim that Shafique has recently been attempting to present himself as sympathetic to the Bangladesh Nationalist Party. Investigators believe the move may be part of a broader effort to return to Bangladesh and re establish influence within financial institutions.

Financial investigators say Navana Pharmaceuticals entered the stock market on the basis of financial reports that later attracted scrutiny from regulators and market observers. At the time the securities regulator was headed by Shibli Rubaiyat Ul Islam, who is now in custody in connection with separate financial investigations. After the company’s listing Shafique allegedly withdrew more than Tk 500 crore from the capital market and the banking sector through various financial arrangements.

Sources say Shafique is currently residing in Dubai and living a comfortable lifestyle. Despite the controversies surrounding him he is believed to be exploring ways to re establish a presence in Bangladesh’s financial sector. Family connections appear to link Shafique with several influential political and business figures. He is reported to be a cousin of former land minister Saifuzzaman Chowdhury and also related to Saiful Alam Masud, chairman of the S Alam Group. During the previous political period he allegedly maintained close relationships with regulatory officials and financial sector leaders.

Through those networks he is said to have gained influence in several financial institutions including United Commercial Bank, Meghna Bank, Peoples Bank and Delta Life Insurance. At one stage the chairman of United Commercial Bank was Rukmila Zaman, the wife of former land minister Saifuzzaman Chowdhury, while Shafique himself served as a director of the bank.

The Anti Corruption Commission later filed a case accusing Shafique of embezzling about Tk 25 crore from United Commercial Bank and transferring the funds abroad. The charge sheet in the case includes several defendants including Saifuzzaman Chowdhury and former UCBL chairman Rukmila Zaman. Investigators say that during his tenure as managing director of Navana Pharmaceuticals Shafique withdrew more than Tk 500 crore from the capital market and banking system. Before leaving the country in August 2024 he reportedly left behind bank loans totaling around Tk 540 crore owed by Navana Pharmaceuticals.

Shafique also served as managing director of Japan Bangladesh Friendship Hospital and Japan Bangladesh Retirement Home. People associated with those institutions say he secured more than Tk 120 crore in loans from multiple banks without the knowledge of founding chairman Professor Dr. Sardar A Nayeem. The loans were reportedly obtained against project work orders while Shafique simultaneously held a directorial position in United Commercial Bank.

Financial investigators say at least Tk 70 crore was borrowed from NRBC Bank alone, of which nearly Tk 19 crore was transferred abroad. Much of the borrowed money was allegedly used for personal purposes rather than the projects tied to the loan agreements. Part of the funds were reportedly sent to his two daughters living in the United States and Canada, with transfers totaling about 1.5 million dollars.

Professor Dr. Sardar A Nayeem, chairman of Japan Bangladesh Friendship Hospital, said Shafique gradually became involved in financial ventures under the influence of several individuals in the sector. According to him many people are aware of the circumstances that led to Shafique’s shift from medical practice to financial dealings.

The Anti Corruption Commission later opened investigations into a number of allegations involving Shafique and his associates. Evidence gathered in two of those investigations led to formal charge sheets submitted to the court. The cases are currently under trial at the Chattogram Metropolitan Sessions Judge Court where arrest warrants have been issued against him.

The Bangladesh Financial Intelligence Unit has also frozen bank accounts belonging to Shafique, his wife Masuma Parveen and several related individuals. Investigators say at least twenty six additional cases are currently under review.

Before the legal process could advance Shafique reportedly left Bangladesh shortly after the political change in August 2024. Sources say he is now living in Dubai and frequently appears in luxury hotels and entertainment venues.

Individuals close to him say he is preparing for a possible return to Bangladesh. According to those sources he plans to surrender before the court and seek hospital treatment citing health complications before applying for bail. If released on bail he may attempt to regain influence over financial and business institutions where he once held authority. Repeated attempts were made to contact Dr. Junaid Shafique through his WhatsApp number for comment. Calls were placed and messages explaining the purpose of the inquiry were sent, but no response was received before publication of this report.

Navana Pharmaceuticals itself faced several controversies after entering the capital market, including allegations of financial irregularities, tax related disputes and inconsistencies in financial reporting. Critics say many of those issues occurred during Shafique’s leadership. Despite those challenges the company has recently shown signs of recovery under new management. Financial records show that Navana Pharmaceuticals had debts of about Tk 540 crore when Shafique left the company. Over the past eighteen months the current management has repaid more than Tk 205 crore of those liabilities.

The company has also resumed construction of a new eight storey facility in Rupganj, Narayanganj. Work has been completed up to the fifth floor and the roof structure of the sixth floor has been installed without direct financial assistance from banks. Banking relationships that weakened after August 2024 have gradually improved as the new management stabilized operations.

Financial data for the fiscal year ending 30 June 2025 shows that Navana Pharmaceuticals recorded sales revenue of about Tk 884 crore compared with around Tk 690 crore in the previous year. The figures represent growth of roughly 28 percent.

Net profit during the same period reached about Tk 48.7 crore. Earnings per share rose to Tk 4.54 compared with Tk 3.77 a year earlier, marking an increase of around 20 percent. Net asset value also increased by about 7 percent.

The company also improved its cash collection from customers. In the most recent fiscal year it collected about Tk 843 crore from customers compared with roughly Tk 668 crore the previous year, representing a 26 percent increase. Market observers say the improved performance under the current management has restored some confidence among general investors who had previously been concerned about the company’s stability.

When contacted for comment, BSEC spokesperson Abul Kalam said the commission has not yet received a formal complaint against former managing director Dr. Junaid Shafique. He added that if such a complaint is submitted and verified the commission will take appropriate action. Nurul Haque, senior vice president of the Bangladesh Capital Market Investors Unity Council, said individuals like Shafique often shift political allegiance depending on which party holds power. According to him such opportunistic actors can harm the economy by manipulating financial markets and transferring funds abroad.

Navana Pharmaceuticals currently has a paid up capital of Tk 107.41 crore. General investors hold about 27.95 percent of the company’s shares while sponsors and directors hold 42.20 percent. Institutional investors own 10.21 percent and foreign investors hold 19.64 percent.

- Oil prices fall -

- Comments from President Donald Trump declaring the Middle East war "pretty much" over sent oil prices down, and pushed US stocks skyward.

- Both the US crude oil benchmark West Texas Intermediate (WTI) and Brent crude fell more than 10 percent, with WTI down to $85.29 per barrel and Brent at $88.95 at around 0230 GMT.

- Meanwhile, all three major US stock indices moved suddenly higher with the Dow Jones Industrial Average finishing 0.5 percent up at 47,740.80, a swing of 1,125 points from earlier in the day.

- US to roll back oil sanctions -

- Trump announced on Monday that he will waive some sanctions on oil due to the market turmoil.

- "We're also waiving certain oil-related sanctions to reduce prices," Trump told reporters after his administration previously signaled it would roll back sanctions on oil exports from Russia.

- Asian stocks rebound -

- Stock markets in South Korea and Japan rose sharply in early trade on Tuesday.

- South Korea's benchmark Kospi rebounded more than five percent, and the Nikkei 225 in Tokyo jumped more than three percent before falling back slightly.

- G7 finance ministers -

- France's finance minister said the G7 was "not there yet" in terms of any release of strategic oil reserves as the world's leading industrialised nations held crisis talks on the economic fallout of the Middle East war, even as they stand ready to do so.

- G7 energy ministers are set to meet on Tuesday.

- Transport/tourism -

- President Emmanuel Macron said France and its allies were preparing a "defensive" mission to reopen the Strait of Hormuz as the war entered its second week.

- Several ships anchored in the Gulf or transiting the Strait of Hormuz are changing their tracking data to claim links to China in an attempt to evade Iranian attacks, according to data from shipping tracker MarineTraffic analysed by AFP.

- Lufthansa and Air France extended flight cancellations to Middle East destinations.

- Global shipping company MSC announced it was formally halting certain export shipments from the Gulf due to the war and that "all affected cargo will be discharged".

- Initial measures-

- Croatia, Hungary, South Korea and Thailand imposed price caps on fuel.

- China asked key refiners in early March to suspend their exports of diesel and gasoline.

- Nigeria's Dangote mega-refinery pledged to prioritise the domestic market to help prevent fuel shortages.

- In Japan, the Nikkei newspaper reported that authorities have asked oil reserves to prepare for their release.

"I think the war is very complete, pretty much. They have no navy, no communications, they've got no air force," Trump told CBS News by phone. "If you look, they have nothing left. There's nothing left in a military sense," he added. Trump told the US broadcaster that the United States was "very far" ahead of his initially stated war time frame of four or five weeks.

He later told a news conference in Florida that "it's going to be ended soon, and if it starts up again they'll be hit even harder". When asked if he thought the war could end in days or weeks, he replied: "I think soon. Very soon." The US leader also threatened an attack of "incalculable" size if Tehran blocks oil supplies coming through the Strait of Hormuz, through which a fifth of global supplies pass.

His remarks come just days after he issued a statement saying Iran's "unconditional surrender" was the only acceptable outcome for ending the war, which sent shivers through markets fearing an elongated war. Still, Iran's Revolutionary Guards responded by saying that they, not the Americans, would "determine the end of the war". Investors jumped on the comments, sending crude prices plunging around 10 percent Tuesday.

That came a day after extreme swings that saw the commodity rocket 30 percent to a peak above $119 a barrel before plunging to as low as $84. The recovery had already begun earlier Monday after it emerged that finance ministers from the Group of Seven industrialised nations would discuss tapping stockpiles to ease supply constraints. Trump also said he would waive some Ukraine war-linked sanctions on Russian oil sales to India, with White House officials reassuring G7 partners that the move would only be temporary.

And Asian stock markets rallied, with Seoul up more than six percent and Tokyo gaining more than three percent. There were also healthy advances in Hong Kong, Shanghai, Sydney, Singapore, Wellington, Taipei, Manila and Jakarta. That came after all three main indexes on Wall Street ended sharply higher, having reversed early heavy selling. Meanwhile, diplomatic efforts focused Monday on the Strait of Hormuz, which has been blocked to nearly all oil tankers.

French President Emmanuel Macron said France was working with allies on a "purely defensive" mission to reopen the waterway. About 10 vessels in or near the Strait of Hormuz have come under attack since Iran blocked the strait in retaliation for the US-Israeli strikes, shipping experts say. Global shipping giant MSC announced it was formally halting some export shipments from the Gulf, while Bahrain's state-owned energy company Bapco joined counterparts in Qatar and Kuwait in declaring "force majeure" -- a warning that events beyond its control may lead it to miss export targets.

The Saudi defence ministry said Monday it had thwarted a drone attack targeting an oil field in the kingdom's east, near the Emirati border. "It has been an incredibly wild ride for traders and investors to navigate the price action put to them over the past 24 hours, with breathtaking reversals taking place across many parts of the financial markets," Chris Weston, an analyst at Pepperstone.

"The pressure valve has clearly been released for now. However, volatility across energy markets remains exceptionally elevated. "While the most extreme stress has eased, markets are still pricing a significant degree of uncertainty and risk. "The geopolitical backdrop remains fluid, and traders should expect volatility to remain a defining feature of the trading environment in the days ahead."

- Key figures at around 0230 GMT -

West Texas Intermediate: DOWN 10.0 percent at $85.29 per barrel

Brent North Sea Crude: DOWN 10.1 percent at $88.95 per barrel

Seoul - Kospi: UP 6.2 percent at 5,575.62

Tokyo - Nikkei 225: UP 3.2 percent at 54,399.08 (break)

Hong Kong - Hang Seng Index: UP 1.5 percent at 25,777.49

Shanghai - Composite: UP 0.5 percent at 4,115.78

Euro/dollar: UP at $1.1623 from $1.1614 on Monday

Pound/dollar: UP at $1.3435 from $1.3427

Dollar/yen: DOWN at 157.65 yen from 157.85 yen

Euro/pound: UP at 86.51 pence from 86.49 pence

New York - Dow: UP 0.5 percent at 47,740.80 (close)

London - FTSE 100: DOWN 0.3 percent at 10,249.52 (close)

Brent Crude was down 6.78 percent $92.25. Prices had soared Monday, with WTI hitting as high as $119.48 and the Brent international benchmark reaching $119.50 before dropping. The market reversed course after US President Donald Trump unexpectedly told a CBS News journalist on Monday that he considered the war as being to close to finished.

Developments were "enough to spark hopes of some normalisation in supply and logistical dynamic", said Chris Weston, an analyst with Pepperstone. "Traders moved quickly to sell crude and equity volatility." However he warned that "the geopolitical backdrop remains fluid, and traders should expect volatility to remain a defining feature of the trading environment in the days ahead".

The instruction was given following a request from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), which urged the authorities to keep customs operations active during the holiday period to maintain the flow of international trade, particularly for the country’s export-oriented industries. Officials said the decision aims to facilitate smooth trade operations and prevent disruptions in the supply chain during the extended holiday period.

The directive also asked the concerned customs authorities to take necessary measures to ensure that import and export-related services remain operational on government and weekly holidays within the specified period. The move is therefore expected to provide relief to exporters by ensuring that cargo handling, documentation and clearance processes can continue during the Eid holiday period.

The additional cuts would come from premium brands Audi and Porsche as well as Volkswagen's software subsidiary Cariad, Blume added. Even before US President Donald Trump slapped tariffs on non-American carmakers last year, Europe's largest automobile manufacturer was facing a triple whammy of stagnant demand in Europe, the costs of investing in electric cars despite patchy demand as well as cratering sales in China. Long the biggest player in the Chinese market, the world's largest, Volkswagen is struggling with fierce competition from local rivals and sales there have slipped behind those of BYD and Geely.

Earnings after tax fell about 44 percent last year, Volkswagen said, with US tariffs, fierce competition in China and a costly revamp of its sportscar-maker Porsche all hitting performance. At 6.9 billion euros ($8 billion), earnings were at their lowest since 2016, when the group took billions in one-off charges due to recalls and legal troubles over cheating on diesel emissions tests. Warning that the group's profit margin was "not sufficient in the long run", Volkswagen finance boss Arno Antlitz said further cost-cutting was needed to make the firm more competitive.

"We can only realise this if we continue to rigorously reduce costs," he said. "That is what we will focus on in the coming months." For 2026, Volkswagen said it expected a core profit margin of between 4 and 5.5 percent -- potentially lower still than the 4.6 percent it achieved this year, adjusted for one-off expenses related to restructuring and the costs of moving back to petrol cars at Porsche. The group warned last September of a bumper 5.1 billion-euro hit for the year after Porsche cut its medium-term profit target and said it would carry on selling petrol vehicles for longer than previously planned in the face of tepid demand for its electric vehicles.

The forecast assumed that tariffs put in place last year by US President Donald Trump would remain, Volkswagen said, adding that "uncertainties regarding restrictions in international trade and geopolitical tensions" as well as "volatile" commodity and energy markers could prove challenging.

Oil prices briefly surged above $119 a barrel on Monday before plunging to around $84 after US President Donald Trump said the US-Israel war with Iran would end soon. Diesel, one of Egypt's most widely used fuels, rose by three Egyptian pounds, or about 17.1 percent, to 20.50 pounds ($0.38) per litre, up from 17.50 pounds.

Prices for 80-octane gasoline rose by about 16.9 percent, to 20.75 pounds per litre, while 92-octane gasoline increased by roughly 15.6 percent to 22.25 pounds. Prices for 95-octane climbed by about 14.3 percent to 24 pounds, the ministry said. Natural gas used for vehicles saw the largest hike, jumping 30 percent to 13 pounds per cubic metre.

Egypt has raised fuel prices four times over the past two years under an $8 billion loan programme from the International Monetary Fund. An October increase of up to 13 percent was expected to be the last under the plan.

Warning that the group's profit margin was "not sufficient in the long run", Volkswagen finance boss Arno Antlitz said further cost-cutting measures could lie ahead to make the firm more competitive. "We can only realise this if we continue to rigorously reduce costs," he said. "That is what we will focus on in the coming months."

Even before US President Donald Trump slapped tariffs on non-American carmakers last year, Europe's largest automobile manufacturer was facing a triple whammy of cratering sales in China, stagnant demand in Europe and the costs of investing in electric cars despite patchy demand. Volkswagen struck a deal with unions at the end of 2024 to cut 35,000 jobs by 2030, mostly at its namesake brand, as part of wider plans to save 15 billion euros a year.

She made the remarks at a media briefing on “CPD’s Recommendations for the National Budget FY2026-27”  held at the organisation’s office at Dhanmondi in the capital today. Fahmida Khatun observed that the current fiscal framework for FY26 has been characterized by significant implementation gaps, including modest revenue growth of only 12.9% and the lowest Annual Development Programme (ADP) implementation rate in fifteen years at 20.3%. 

Consequently, she said, many highly optimistic targets set for the previous year are likely to be missed, necessitating a more cautious and data-driven approach for FY27. She emphasized that setting realistic revenue mobilization and GDP growth targets is crucial to avoid a business-as-usual scenario that fails to address domestic and external economic pressures. To enhance domestic resource mobilization while minimizing the burden on citizens, Fahmida Khatun suggested that the government should pursue its manifesto goal of raising the tax-GDP ratio to 15% by 2035 through a well-written action plan and strong political will.

“Initiatives such as meaningful taxation on wealth and property, and taxes on the expanding digital economy, should be considered,” she added. She said all ad-hoc provisions for tax incentives should be discontinued starting in FY27 to exercise caution and selectivity in the current political scenario. With general inflation persistently exceeding 9%, she recommended a balanced fiscal approach to address supply-driven price hikes.  “Food, energy, and power sector subsidies should be focused on supporting vulnerable and low-income groups,” she added.

She mentioned that the CPD supports the introduction of Family Cards for pilot beneficiaries and the integrated digital Farmer Smart Card to provide farmers with integrated services and subsidies. She urged for strengthening the Competition Commission to curb anti-competitive practices and prevent hoarding. Fahmida Khatun said that the FY27 budget must take cognizance of external developments such as the Economic Partnership Agreement (EPA) with Japan and the Bangladesh-US Agreement on Reciprocal Trade (ART). 

Furthermore, she said that preparing the economy for a post-LDC future requires aligning tariffs with WTO commitments and phasing out incompatible export subsidies. To revitalize an investment climate where private investment has fallen to a decade low of 22.03% of GDP, she recommended establishing a digital one-stop service for business compliance. In the energy sector, she advocated for prioritizing the Energy Division budget to fund the drilling of 150 gas wells to reduce reliance on volatile LNG imports.

She urged for reducing high tariffs (currently up to 58.6%) on solar and wind components to achieve the target of generating 40% of electricity from clean energy sources by 2041. She called for increasing public expenditure in health and education towards 5% of GDP each, as pledged in the government's manifesto. She also recommended implementing a uniform specific excise duty of Taka 10 per cigarette stick and Taka 3 per Bidi to raise revenue and reduce health costs.

Fahmida Khatun suggested standardizing parallel education streams and providing targeted stipends to increase female enrollment in higher education. She concluded that the FY27 budget presents a unique opportunity for the government to demonstrate leadership in fiscal management and lay a robust foundation for sustainable economic recovery.

It also urged officials to avoid overseas trips. Thailand said last week it had secured two months' worth of oil supplies but was suspending exports to conserve its holdings. It also capped the price of diesel at just under 30 baht ($0.94) per litre for a 15-day period. In neighbouring Vietnam, the government scrapped duties on Monday on many imported petroleum products in an effort to prevent fuel shortages and stabilise the domestic market. It also encouraged companies to allow employees to work from home "whenever feasible" to alleviate demand for fuel, the government said on its website.

Hanoi also recommended the public limit the use of personal vehicles, and instead opt for public transit, cycling or carpooling. But thousands of motorbike riders queued for petrol on Tuesday at stations across the Southeast Asian nation, where prices for unleaded gasoline have surged more than 20 percent since the start of the US-Israel war against Iran more than one week ago.

A 57-year-old who gave his name as Tuan told AFP at a Hanoi petrol station that he was furious after waiting for almost an hour to gas up. "I still have enough to run my motorbike today, but definitely I have to fill it tonight. Then I have to queue again tonight?" he said. Vietnam has so far avoided mass shortages, but state media reported that dozens of smaller petrol stations have either temporarily closed or shortened their operating hours due to dwindling supplies.

"We may unsanction other Russian oil," Bessent told Fox Business on Friday. "There are hundreds of millions of barrels of sanctioned crude on the water. And in essence, by unsanctioning them, Treasury can create a supply." Washington has insisted that the new measures are not aimed at easing restrictions on Moscow, imposed over its conduct in negotiations to end the war in Ukraine, but instead only affect supplies already in transit. "We're going to keep a cadence of announcing measures to bring relief to the market during this conflict," said Bessent, with high oil prices a pain point both domestically and for international markets.

Kremlin economic adviser Kirill Dmitriev said he was discussing the issue with the United States, posting on X that: "Western sanctions have proven detrimental to the world economy." On Thursday, the US government temporarily eased economic sanctions to allow Russian oil currently stranded at sea to be sold to India. It said the transactions, including from vessels blocked by various sanctions regimes, are authorized through the end of the day on April 3, 2026.

Expensive gasoline could also prompt the independent central bank to put the brakes on the world's largest economy as it battles stubborn inflation. Since last week, US average domestic fuel prices have risen 11 percent, according to the AAA's fuel price gauge. It is the kind of move that Robinson said will have him cutting down on all but the essentials. "It just determines what I'm going to do on a day-to-day basis," he said. "Pretty much start thinking about (watching) Netflix, staying in the house instead of burning gas."

Others at the gas station agreed. "It impacts all areas of life," said Toloria Washington, 39. "We are in a state of survival mode." Washington, who works in finance, said fuel expenses are non-negotiable for her. With prices rising at the pump, she had to make cuts elsewhere. That, she said, is a problem for people already battered by years of high prices post-pandemic. "That's the key thing, it's tapping into everybody's basics," she added. "It's the basics. Daily survival of food, water, housing." US inflation hit a peak of 9.1 percent during the pandemic. While it has cooled since then, analysts warn of risks of another pick-up.

"Inflation showed signs of accelerating prior to the jump in energy prices," said KPMG chief economist Diane Swonk. "That has left consumers in a sour mood," she added. Swonk warned that rising fuel prices added "insult to injury" for low-income Americans, who are already seeing higher healthcare costs and a tightening of welfare benefits under Trump. Trump, who has bragged about oil prices falling during his term, sought to address the political fallout on Friday, telling CNN he expected prices to come down quickly.

His Republican party holds only a slim majority in both the House and Senate. With midterm elections due in November, he will be hoping that voters do not let tightening household budgets weaken his political position. Trump could see further complications if inflation from gasoline price hikes pushes the Fed to respond by keeping interest rates at a higher level. The central bank has a dual mandate of maintaining stable prices and maximum employment, but has one main tool to do so -- adjusting interest rates.

Raising them generally cools economic activity and reduces inflation while lowering them can spur activity, boosting the weakening employment market. The prospect of more inflation due to oil prices raises the specter of what some analysts call a nightmare scenario. "This could not come at a worse time for the Federal Reserve," said KPMG's Swonk. "It now has a dueling mandate with the risk that inflation not only lingers but accelerates." Fed policymakers remain cautious.

Addressing higher domestic energy prices on Friday, Federal Reserve governor Christopher Waller told Bloomberg TV he considered them "unlikely to cause sustained inflation." But this is scant consolation for many Americans hit by even a temporary bout of price increases. "One thing after another, it's chaos, you know, every day," said Lucas Tamaren, 32, at a gas pump in Los Angeles. "Living in America feels unpredictable and chaotic and it's hard." Robinson, the schoolteacher, said he will be watching gas prices every day now. He expects price pressures will be reflected at the voting booth in November. "The more you pay higher gas, higher groceries (costs)," he said, voters will "start to see" that the middle class is shrinking.

The main US contract, West Texas Intermediate, soared more than 12 percent to over $90 per barrel, topping off the biggest weekly gain on record. Maritime traffic has all but dried up through the Strait of Hormuz, through which a fifth of the world's crude oil and liquefied natural gas supplies run. Market reaction to the conflict had been tempered by hopes that it would be short, but Trump's demand for Iran's capitulation increases the prospect of a long conflict.

Trump's comments "dashed hopes that the conflict will be averted quickly, and the oil price has continued its push" higher, said XTB research director Kathleen Brooks. The prospect of high energy prices for a sustained period has fanned fears of a fresh spike in inflation that could hit the global economy while curbing the ability of central banks to cut interest rates to prop up growth. "The longer that key energy infrastructure and shipping routes in the region are affected, the greater the chance of a significant inflationary impact," said AJ Bell investment director Russ Mould.

Attacks on oilfields were reported in southern Iraq and in the northern autonomous Kurdistan region, which forced a US-run oilfield to cease production. Kuwait has also begun cutting production due to a lack of storage capacity, the Wall Street Journal reported. Earlier this week, Trump pledged to protect ships through the Strait of Hormuz, but shipping companies have exercised caution in the region.

Trump's pledge helped "reduce some of the risk premium in oil markets," but will have "limited impact unless Iran's extensive disruption capabilities are first neutralized," said a note from analysts at JPMorgan Chase. Meanwhile, data showed the US economy had unexpectedly lost jobs in February, while unemployment also edged up. The world's biggest economy shed 92,000 jobs last month, down from revised job growth of 126,000 in January, said the Labor Department.

New data released Friday also showed US retail sales had fallen by 0.2 percent in January. Investors often look at data showing a slowdown in the economy as raising the chances of the US Federal Reserve lowering interest rates, but analysts say higher oil prices complicate that picture. Until recently, the markets were anticipating the Fed would resume interest rate cuts in June, but that has now shifted to September.

Wall Street's main indices finished down around one percent or more. Europe's main markets finished the day with losses of around one percent. An exception to Friday's sell-off was Boeing, which piled on 4.1 percent following a Bloomberg report that said the company was close to a big sales agreement with Chinese carriers.

- Key figures at around 0410 GMT -

Brent North Sea Crude: UP 8.5 percent at $92.69 per barrel

West Texas Intermediate: UP 12.2 percent at $90.90 per barrel

New York - Dow: DOWN 1.3 percent at 47,501.55 (close)

New York - S&P 500: DOWN 1.3 percent at 6,740.02 (close)

New York - Nasdaq Composite: DOWN 1.6 percent at 22,387.68 (close)

London - FTSE 100: DOWN 1.2 percent at 10,284.75 (close)

Paris - CAC 40: DOWN 0.7 percent at 7,993.49 (close)

Frankfurt - DAX: DOWN 0.9 percent at 23,591.03 (close)

Seoul - Kospi: FLAT at 5,584.87 (close)

Tokyo - Nikkei 225: UP 0.6 percent at 55,620.84 (close)

Hong Kong - Hang Seng Index: UP 1.7 percent at 25,757.29 (close)

Shanghai - Composite: UP 0.4 percent at 4,124.19 (close)

Euro/dollar: DOWN at $1.1604 from $1.1609 on Thursday

Pound/dollar: UP at $1.3385 from $1.3357

Dollar/yen: UP at 157.88 yen from 157.59 yen

Euro/pound: DOWN at 86.67 pence from 87.00 pence

Market moves have been comparatively mild in light of the conflict amid hopes that the crisis will be short-lived and not cause a major problem for the global economy. But analysts warned that the longer it goes on the more painful it would be on the global economy as supply chains are hit and prices surge. US President Donald Trump said the war, which began Saturday with a strike that killed Iran's supreme leader Ayatollah Ali Khamenei, was going "substantially" ahead of schedule but that it could go on for more than four weeks.

He also for the first time laid out objectives -- destroying Iran's missiles, navy and nuclear programme, and stopping its support for armed groups across the region -- which notably did not include toppling the Islamic republic. The US State Department urged Americans to leave all of the Middle East from Egypt eastward. Iran has responded by unleashing missiles and drones across the Middle East, including Lebanon, Saudi Arabia, Qatar and Dubai, while threatening explicitly to drive up global energy costs.

That sent oil prices soaring nearly 14 percent Monday before easing slightly, while European natural gas prices spiked almost 40 percent after Qatar's state-run energy firm said it had halted liquefied natural gas production. Meanwhile, a general in Iran's Revolutionary Guards threatened to "burn any ship" seeking to navigate the Strait of Hormuz. "We will also attack oil pipelines and will not allow a single drop of oil to leave the region. Oil price will reach $200 in the coming days," he warned.

Crude rose at least one percent on Tuesday, and the rise in energy costs could give most central bankers a headache as they look to bring down inflation while also cutting interest rates to support their economies. "A spike in energy prices creates a dilemma for central banks," said Rodrigo Catril at National Australia Bank. "Stagflation makes central banks very uncomfortable, a longer-lasting energy shock is inflationary and at the same time it weakens growth. "When in doubt, the best course of action is to wait and we are seeing a bit of that in terms of central banks' pricing expectations."

And Chris Weston at Pepperstone added: "With the Strait of Hormuz temporarily constrained, the longer the disruption persists, the greater the risk that additional facilities and infrastructure across the Gulf region may be forced offline. "Gulf producers do have storage capacity, pipelines, and tanker alternatives, but these are not unlimited." Equity markets mostly retreated to extend losses in most of Asia Monday.

Seoul, which has surged more than 40 percent this year on the back of a tech rally, sank more than two percent as investors returned from a long weekend. Tokyo, Hong Kong, Shanghai, Sydney, Wellington, Taipei and Jakarta were also sharply lower. Airlines were again among the biggest losers, with Tokyo-listed Japan Airlines down more than five percent, Cathay Pacific down 3.3 percent in Hong Kong and Qantas losing nearly three percent in Sydney.

- Key figures at around 0230 GMT -

West Texas Intermediate: UP 1.0 percent at $71.95 per barrel

Brent North Sea Crude: UP 1.2 percent at $78.70 per barrel

Tokyo - Nikkei 225: DOWN 2.3 percent at 56,727.27 (break)

Hong Kong - Hang Seng Index: DOWN 0.4 percent at 25,962.03

Shanghai - Composite: DOWN 0.8 percent at 4,150.87

Euro/dollar: UP at $1.1701 from $1.1688 on Monday

Pound/dollar: UP at $1.3415 from $1.3399

Dollar/yen: UP at 157.40 yen from 157.31 yen

Euro/pound: DOWN at 87.22 pence from 87.23 pence

New York - Dow: DOWN 0.2 percent at 48,904.78 (close)

London - FTSE 100: DOWN 1.2 percent at 10,780.11 (close)

Brent crude, having gained 7.3 percent on Monday -- after jumping as much as 13 percent early in the session -- was not yet being traded. Japan's Nikkei was down 0.84 percent, having fallen 1.4 percent on Monday. South Korea's Kospi, closed the day earlier due to a public holiday, was down 1.6 percent.

The main risk to the oil market remains a blockade of the Strait of Hormuz, a vital waterway connecting the Middle East to the rest of the world for oil and gas shipments. According to data from maritime analytics site Marine Tracker, traffic through the artery has plummeted and a slew of oil tankers have turned around or been stopped at the strait. Local Iranian media reported late Saturday that the country's Revolutionary Guards had warned "various ships" that the strait was currently unsafe to navigate due to US and Israeli attacks and therefore effectively closed.

Washington also warned ships about safety risks in the Gulf. The impact on oil prices will remain unknown until Brent futures markets reopen for the coming week, but analysts have sounded warnings about such a scenario. "$100+ oil per barrel soon," Kremlin economic adviser Kirill Dmitriev said on X. Approximately 20 million barrels of crude oil passed through the narrow waterway daily in 2024, equivalent to nearly 20 percent of global liquid oil consumption, according to the US Energy Information Administration (EIA).

"Even a doubt about security in the Strait would prompt many vessels, for insurance reasons, to face difficulties transiting, as premiums would rise sharply," said Rasmussen. According to Saxo Bank analyst Ole Hansen, "only Saudi Arabia and the United Arab Emirates possess meaningful bypass infrastructure". The route could transport a maximum of 2.6 million barrels daily, noted the EIA. But US air and navy assets could re-establish shipping security if Washington chose to do so, said Jakob Larsen, safety chief at shipping association BIMCO.

Iranian crude is relatively easy and cheap to extract, with production costs as little as $10 per barrel, making it particularly profitable, Rasmussen said. Only Saudi Arabia, Iraq, Kuwait and the UAE enjoy similarly low production costs. By comparison, major Western producers like Canada and the US typically face costs of $40 to $60 per barrel. With such low costs, Iran gains disproportionately from high global prices, a crucial factor for an economy heavily reliant on oil revenues.

US sanctions imposed since the 1979 Islamic Revolution have left Iran with few export options -- especially after President Donald Trump revived a "maximum pressure" policy on Tehran upon his return to office. Iran exports between 1.3 and 1.5 million barrels daily, with more than 80 percent of the total bound for Chinese refineries owing to US sanctions, according to Ole Hansen, analyst at Saxo Bank. Oil producing US allies Kuwait, the UAE and Iraq were all targeted by Iranian reprisal attacks Saturday, and multiple explosions were heard over Saudi Arabia. "The risk of escalation is greater than seen in recent regional conflicts," said Jason Bordoff, founding director at Columbia University's Center on Global Energy Policy.

Iran's neighbors hosting US military bases "know they are vulnerable because the Iranians have enough basic intermediate-range missiles that allow them to strike vital points" in the worst-case scenario, noted Pierre Razoux, director of studies at the Mediterranean Foundation for Strategic Studies. At-risk infrastructure includes hydrocarbon hubs as well as electrical power and seawater desalination plants, he added. Soaring oil prices meanwhile risk a return to soaring inflation, hurting the global economy.

Crude reaching $100 per barrel for the first time since the start of Russia's invasion of Ukraine in February 2022 could also hurt Trump in the midterm elections at the end of the year, especially as he has promised American voters cheap energy.

Last year, the V8 group -- comprising Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman -- boosted production by around 2.9 million barrels per day (bpd) in total before announcing a three-month pause in output hikes. But now the picture has changed dramatically. Even before the conflict erupted on Saturday, the market had already priced in a growing geopolitical risk premium over months of US military build-up in the region.

Brent, the global benchmark for crude oil, jumped more than three percent on Friday to trade over $73 per barrel, up from $61 at the beginning of the year. Several other developments have squeezed oil supply since early January, said UBS analyst Giovanni Staunovo. They include "cold weather in the US across January (that) resulted in temporarily production shut-ins", "disruptions in Russia" linked to drone attacks, as well as in Kazakhstan, where "a power outage disrupted production from the Tengiz oil field", he added.

That's why, even before Saturday's strikes, the market was anticipating a quota increase of 137,000 barrels per day. "These relatively high prices are a good incentive for OPEC+ to resume its production increases" from April, Kpler analyst Homayoun Falakshahi told AFP. Before the weekend, Falakshahi said a US strike on Iran would not necessarily alter the OPEC+ decision, as the group might prefer to wait and assess the impact on flows before adding more oil to the market than previously planned.

In the short term, the US attack will likely trigger "a massive surge in prices" with what follows depending on how far the conflict escalates, Falakshahi said. The conflict could certainly severely disrupt global oil supplies and send barrel prices soaring to a level not seen in years. Iran is a significant oil producer, but the principal risk remains a prolonged blockade of the Straits of Hormuz, through which around 20 million barrels of crude pass each day -- around 20 percent of global production. And there are virtually no alternatives for crude transport.

Only Saudi Arabia and the UAE have pipeline networks, capable of carrying a maximum of 2.6 million barrels per day, that allow them to bypass the Straits of Hormuz, according to the US Energy Information Administration. "That said, even if strikes remain limited, we think Brent crude oil prices might rise to about $80pb (around their peak during the 12-day war in June 2025), from $73pb yesterday", wrote William Jackson, chief emerging markets economist at Capital Economics.

But prices would rise much more if the conflict is a prolonged one, particularly if the Strait of Hormuz is blocked for an extended period. "That could cause oil prices to jump, perhaps to around $100pb," said Jackson. Even if OPEC+ agrees on an output increase of 137,000 barrels per day on Sunday, the impact on oil prices will be limited, especially since the hike would only translate into an actual increase of 80,000 to 90,000 barrels, according to Kpler estimates.

"Spare capacity is much smaller than some perceive, and primarily in the hands of Saudi Arabia," Staunovo told AFP, adding that Russian production had been "on a declining trend over the last two months". Boosting production would nevertheless allow OPEC+ members to regain market share in the face of competition from other key players such as the United States, Canada, Brazil, and Guyana. "OPEC+ would prefer prices of $80-90, but around $70 per barrel is the ideal price level for this strategy" because it is "not enough to encourage further investment by US producers but acceptable for OPEC+," Falakshahi said.

The programme commenced with a formal discussion session focusing on the significance of Free Trade Agreements (FTA) and their potential impact on trade and investment between Bangladesh and the CIS countries. During the discussion, the speakers highlighted the importance of strengthening bilateral trade relations, enhancing export opportunities, and exploring new avenues of economic cooperation. The participants actively exchanged views on trade facilitation, market access, and the role of chambers in promoting international business collaboration.

Emphasis was also given to identifying challenges and opportunities related to FTA implementation and future trade prospects. The Acting President of CIS-BCCI, in his remarks, underscored the Chamber’s commitment to promoting trade, investment, and business connectivity between Bangladesh and the CIS region. He also appreciated the valuable suggestions and active participation of the members and stakeholders.

The event concluded with a Doa, during which the guests prayed for the country’s economic development, as well as the peace and welfare of its people. Following the discussion session, an Iftar Party was hosted in a warm and cordial atmosphere, fostering networking and strengthening relationships among members, guests, and business leaders. Besides the Keynote Speaker, Dr. Mostafa Abid Khan, Former Member of the Bangladesh Trade and Tariff Commission, attended the program. CIS-BCCI Acting President, Jadab Debnath, Advisers Mahbub Islam Runu M. S. Siddiqui and Directors of the Board and Members were also present.

The commission has drafted these rules by exercising the powers conferred under the following legislative provisions ‘Section 33(1) of the Securities and Exchange Ordinance, 1969 (Ordinance No. XVII of 1969)’ and ‘Section 24(1) of the Bangladesh Securities and Exchange Commission Act, 1993 (Act No. 15 of 1993)’.

The proposed regulation, titled Bangladesh Securities and Exchange Commission (Capital Market Related Information Disclosure and Whistleblower Protection) Rules, 2026, establishes a dual-purpose mechanism for maintaining market integrity.

 It provides a comprehensive framework for the transparent disclosure of capital market information while simultaneously ensuring robust legal protection for whistleblowers who report financial irregularities or sector-specific malpractices.

Despite a partial recovery from the initial plunge, the market largely remained under sustained downward pressure throughout the session, with most scrips trading in negative territory. Meanwhile, market turnover also decreased by 18.1% to Taka 7.8 billion from Taka 9.5 billion in the previous session. On the sectoral front, Bank (24.2%) issues exerted the highest turnover, followed by Pharma (13.1%) and Textile (8.7%) sectors. All the sectors displayed dismal returns, out of which Travel (-4.2%), Paper (-3.7%) and Financial Institution (-3.2%) exerted the most corrections on the bourse today. 

Out of the 397 issues traded, 30 advanced, 350 declined and 17 remained unchanged. The port city bourse, CSE, also settled on a negative zone. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) lost 165.4 points and 245.9 points, respectively.

The hydroponics tents represent a non-traditional and high-value export product, reflecting BEPZA’s strategic focus on product diversification and entry into specialized global markets. The products will be exported to major international destinations including the USA, Europe, the UK, Canada, and Japan. The project is expected to create employment opportunities for 3,000 Bangladeshi nationals, said a press release.

The agreement was signed today at the BEPZA Complex in the capital. BEPZA Executive Director (Investment Promotion) Md Tanvir Hossain and Green Pure Houseware Managing Director Wang Shenyu signed on behalf of their organizations. BEPZA Executive Chairman Maj Gen Mohammad Moazzem Hossain witnessed the signing ceremony. Welcoming the investor, the Executive Chairman reaffirmed BEPZA’s commitment to providing seamless services and a business-friendly environment to ensure the successful implementation and operation of the project. 

The ceremony was attended by Abdullah Al Mamun, Member (Engineering); A N M Foyzul Haque, Member (Finance); A.S.M. Anwar Parvez, Executive Director (Public Relations); along with senior officials of BEPZA and representatives of the company. 

But the program was contingent upon securing financing assurances and enacting a budget, among other elements. "The overarching goals of the authorities' new program are to continue anchoring economic and financial stability, restore debt sustainability" and advance reforms that will help with post-war recovery and support Ukraine's aim for accession to the European Union, said the IMF. "Ukraine and its people have weathered a long and devastating war for over four years with remarkable resilience," IMF Managing Director Kristalina Georgieva added in a statement.

Ukraine's Prime Minister Yulia Svyrydenko said in a statement posted on Facebook that the initial funds would be directed to finance the budget deficit and support economic stability. "It is very important for us that in the fifth year of a full-scale war, against the background of systemic attacks on the energy sector, Ukraine has guaranteed international financial support from partners and a resource for the stable operation of the state," she said.

Georgieva added that the new arrangement "aims to preserve the hard-won macroeconomic and financial stability" as well as to extend and deepen structural reforms as the war continues. IMF spokeswoman Julie Kozack said this month that Ukraine had met all conditions required for board approval for the deal.

Hundreds of thousands of people have died since Russia invaded its neighbor on February 24, 2022, unleashing the deadliest war on European soil since World War II. The IMF has made more than $10 billion -- not including Thursday's new $8.1 billion program -- available to Ukraine since the start of the war. Ukrainian President Volodymyr Zelensky said Thursday that he expected the next round of talks to end the war with Russia in early March in Abu Dhabi.

On the political side, around 60 government ministers from around the world are expected on the floors, where more than 2,900 companies' stands will be showing off the latest smartphones and connected services. Exhibitors include telecoms and smartphone giants like Samsung, Huawei, Nokia, Orange, Xiaomi or Honor and big tech heavyweights including Google, Microsoft, Meta and Amazon. One notable abstainer is Apple, which has never participated -- preferring to show off new products at its own worldwide events, with the next one taking place on Wednesday.

Highly anticipated speakers include Gwynne Shotwell, president of Elon Musk's rocket company SpaceX. Among the gadgets to watch out for, Chinese group Honor will show off the first "robot phone" powered by AI -- although plenty of other products will be on display for the first time. "Sovereign AI will be a big discussion item" at this year's MWC, GSMA analysts told journalists this week. Telecoms have a key role to play in the blossoming of generative artificial intelligence, which requires vast quantities of data to circulate swiftly, reliably and securely over operators' networks.

Satellite connectivity for smartphones and other devices will also be a key topic in the shadow of debate over how Europe can stand apart from the US in the digital world. This year, telecom companies are still working to extend 5G mobile coverage while "laying foundations that won't be ripped out when 6G arrives" with the next generation of connectivity, industry expert Paolo Pescatore said. "It's all about the network." Global smartphone sales are picking up steam again, powered by a slew of new models offering innovative new features -- many of them from Chinese manufacturers.

More than 1.2 billion devices were sold in 2025, a 1.9 percent year-on-year increase, according to specialist data firm IDC. "Despite a challenging year marked with tariffs volatility, supply chain disruption and persistent macroeconomic headwinds across several markets, the global smartphone market demonstrated remarkable resilience," IDC research director Nabila Popal said. Beyond the commercial tensions that have buffeted global trade, device manufacturers are also facing massive increases in the price of memory chips, driven by heavy demand from companies building computing infrastructure to develop and power AI models.

In market share, Apple accounted for 19.7 percent of global smartphone sales in 2025, a nose ahead of Samsung at 19.1 percent. China's top seller Xiaomi was in third place at 13.1 percent.

Worries about the impact of new tools that many warn pose a risk to a range of companies were compounded by a report on Sunday that signified parts of the global economy that could be at risk from the new gadgets, including credit card and food delivery firms. That uncertainty has seen a shift from "downstream" companies that run apps and software to "upstream" firms such as chipmakers, many of which are based in Asia.

That was highlighted this week by another Wall Street sell-off, despite Nvidia reporting quarterly profits more than doubled, projecting more strong growth for the coming period. Analysts said the losses showed firms needed to far exceed even elevated forecasts, making it even harder to please investors who have been piling into tech in recent years. "Market expectations were already very elevated and part of the positive results had been priced in," said City Index's Julian Pineda.

"There are also concerns related to stretched valuations and Nvidia's dependence on capital spending by large technology companies investing in AI infrastructure."If the pace of AI investment moderates due to cost optimisation efforts, it could indirectly affect Nvidia's growth outlook." Most of Wall Street fell, with the Nasdaq shedding more than one percent. Asia was mixed, with the Supreme Court's decision last Friday to slap down many of US President Donald Trump's tariffs seen largely benefiting regional economies.

Hong Kong, Singapore and Wellington edged up, while Sydney and Shanghai shifted between gains and losses. But Seoul sank more than one percent, having chalked up gains of around 8.5 percent this week thanks to a surge in market heavyweights Samsung and SK hynix. Tokyo, Manila and Jakarta also fell. The yen extended a minor recovery against the dollar after a top Bank of Japan board member again urged officials to continue hiking interest rates.

However, the case for a pause was boosted by data showing Tokyo's inflation -- seen as a barometer for the country -- cooled last month. The currency came under pressure this week after Prime Minister Sanae Takaichi nominated two academics to the BoJ board who are considered policy doves, days after reports said she had told its boss Kazuo Ueda of her concern about tightening further.

Oil prices slipped after mediators said Iran and the United States made "significant progress" in nuclear talks Thursday as they look to avert a war in the crude-rich Middle East. The two sides agreed to further discussions next week in Austria. The Oman-mediated negotiations follow repeated threats from Trump to strike Tehran, with the US president last Thursday giving it 15 days to reach a deal.

- Key figures at around 0230 GMT -

Tokyo - Nikkei 225: DOWN 0.4 percent at 58,528.09 (break)

Hong Kong - Hang Seng Index: UP 0.2 percent at 26,427.58

Shanghai - Composite: FLAT at 4,146.82

Dollar/yen: DOWN at 155.85 yen from 156.11 yen on Thursday

Euro/dollar: DOWN at $1.1796 from $1.1799

Pound/dollar: DOWN at $1.3484 from $1.3489

Euro/pound: UP at 87.49 pence from 87.47 pence

West Texas Intermediate: DOWN 0.3 percent at $65.02 per barrel

Brent North Sea Crude: DOWN 0.3 percent at $70.54 per barrel

New York - Dow: UP less than 0.1 percent at 49,499.20 (close)

London - FTSE 100: UP 0.4 percent at 10,846.70 (close)

Net profit edged up 0.2 percent to Aus$925 million. "What's driving this performance is really clear: continued strong demand for travel combined with new aircraft that are fundamentally changing how we deliver for our customers and grow our business," said chief executive Vanessa Hudson. "Australians' appetite for travel continues to be incredibly strong." Passengers were showing strong demand for premium seats on Qantas while budget offshoot Jetstar was flying more people to holiday destinations, she said.

Jetstar's new fleet was delivering better fuel efficiency, lower maintenance costs, and providing the flexibility to open new routes, Hudson said. Qantas expected to see similar benefits as it brought in new aircraft, with 30 new planes due to arrive over the next 18 months. The airline also reported higher spending on salaries, fuel and other costs such as aviation and landing charges, and passenger handling. "Airport charges and government fees have increased at double the rate of inflation over the past 12 months," Hudson said.

"We are offsetting these where possible through transformation and we're working across the industry to minimise the impact and see what can be done to ensure this doesn't impact the ongoing affordability of air travel in this country." Qantas forecast strong travel demand in the rest of the financial year across its business, adding that it would be monitoring the "evolving economic environment" in the United States.

In 2024, before US President Donald Trump returned to office and upended global trade through a flurry of tariffs, more than 75 percent of Canadian exports went to the United States. Two-way trade that year exceeded $900 billion. US tariffs targeting specific sectors have hurt the Canadian economy over the past year. But Trump has so far broadly adhered to the North American free trade agreement he signed during his first term and 85 percent of US-Canada trade remains tariff-free. The US president has said, however, that he may scrap that deal, calling it "irrelevant" with "no real advantage" to the United States.

Carney has made boosting commerce with Europe and Asia cornerstones of his strategy to backstop Canada's economy, should free trade with Washington collapse. University of Toronto public policy expert Drew Fagan said Carney was wise to pursue other markets, calling for a strategy that seeks to do "more elsewhere, when there's an opportunity." The prime minister has said he wants to more than double two-way trade with India by 2030, eyeing a target of Can$70 billion ($51 billion) by 2030.

Fagan cautioned that progress with countries like India cannot mitigate the damage of a US rupture. "It's not a solution. It's not a replacement and it never will be," Fagan told AFP. Carney's outreach to India is facing domestic scrutiny and his talks with Indian Prime Minister Narendra Modi will be closely watched. Before Carney took office last year, Ottawa accused Modi's government of direct involvement in the 2023 killing of Hardeep Singh Nijjar, a naturalized Canadian citizen who advocated for an independent Sikh state called Khalistan.

Former prime minister Justin Trudeau's government further charged India with directing a campaign of intimidation against Sikh activists across Canada. India has denied those allegations. Canadian Foreign Minister Anita Anand was asked Monday if Canadian concerns about transnational repression would feature at the New Delhi talks. "Yes, that is always at the forefront of our minds," Anand told reporters in Ottawa.

Carney's hopes for trade growth with Australia and Japan are more modest, but his office said cooperation over critical mineral supply chains will be a priority. Advanced economies have made a push to deepen critical mineral cooperation, especially in the processing of rare earth elements essential to power many high-tech products. China currently has dominant control of rare earth supply chains, a concern that Canada highlighted throughout its just-concluded G7 presidency.

Hong Kong Exchanges and Clearing (HKEx) chairman Carlson Tong said the performance was driven by "strong interest and increasing participation of international and Chinese Mainland investors, amid the ongoing dynamic macro backdrop". The city's IPO market welcomed 119 new listings and raised a total of US$36.7 billion, a 226 percent increase year-on-year. Dozens of companies from China piled into the city last year to raise overseas capital thanks to policy support from Beijing and optimised listing rules by Hong Kong regulators.

"In 2025, HKEx reinforced its role as a global superconnector, regained its position as the world's leading venue for IPOs and set new trading as well as financial performance records," chief executive Bonnie Chan said. The firm expects volatility to "persist amid the prevailing macro landscape in 2026", she added. But she said there was cause for optimism in capital markets as global investors seek diversification and risk management opportunities in Asian and Chinese assets.

In his annual budget on Wednesday, the city's finance chief Paul Chan said the exchange would continue to explore establishing a multi?asset post?trade securities platform to cover China and Hong Kong equity and debt markets. HKEx will also advance listing rules and board lot reforms, as well as a review to attract aerospace enterprises into going public in the city. The exchange operator is processing more than 400 listing applications, its database shows.

The EBRD was founded in 1991 to help former Soviet bloc nations embrace free-market economies, before extending its reach to the Middle East, North Africa and parts of sub-Saharan Africa. "The impact of the US tariffs for our countries of operation has been limited, much lower than anticipated," Javorcik said. In its latest report released on Thursday, the EBRD forecast growth to accelerate to 3.6 percent this year and rise further to 3.7 percent in 2027.

"There are some countries that potentially could gain to see lower tariffs, like Serbia, Bosnia and Herzegovina, Moldova or Tunisia, but overall the picture is unchanged," Javorcik said. She cautioned that "we have not felt the full impact of tariffs yet," as a large share of 2025 exports reached US markets before the measures took effect. The EBRD also said that the artificial intelligence boom has boosted US imports of technology-related goods, including semiconductors.

This could benefit countries in Central Europe, the Baltics, Bulgaria and Romania that export these types of products, Javorcik said.

Investors have adopted a more sanguine view following a presentation by AI company Anthropic that emphasized the compatibility of its technology with existing programs. Hopes are also elevated ahead of an earnings report from Nvidia later Wednesday. "People are speculating that likely they'll (Nvidia) have good things to say," said Briefing.com analyst Patrick O'Hare, who also attributed the rise to investor bargain hunting after earlier declines. A surge in shares in big tech firms deploying AI helped drive equity markets to record highs last year. Investors have sometimes been seized in recent months by concern that share prices have become over-valued and that the technology might not become profitable, however.

Other declines have been driven by concerns that the technology will disrupt other businesses. Such worries were sparked by a weekend report by Citrini Research that said certain sectors, from financial to food delivery firms, could be at risk from new AI tools. Earlier, Seoul's Kospi topped 6,000 points for the first time, led once again by chip titans Samsung and SK hynix. The index has surged more than 40 percent this year, having rallied 76 percent in 2025.

Tokyo piled on more than two percent to hit a new peak, with tech firms Advantest and Tokyo Electron among the best performers. In Europe, shares in HSBC jumped 6.7 percent after the global bank posted better-than-expected 2025 earnings. Elsewhere, the yen retreated further against the dollar on media reports that Japanese Prime Minister Sanae Takaichi had told Bank of Japan boss Kazuo Ueda of her concern about hiking interest rates further. Oil prices edged higher ahead of a third round of talks between Iran and Washington in Geneva on Iran's nuclear program.

In his State of the Union address on Tuesday, US President Donald Trump accused Tehran of "sinister nuclear ambitions" after he ordered a massive military deployment around the Gulf.

- Key figures at around 2115 GMT -

New York - Dow: UP 0.6 percent at 49,482.15 (close)

New York - S&P 500: UP 0.8 percent at 6,946.13 (close)

New York - Nasdaq Composite: UP 1.3 percent at 23,152.08 (close)

London - FTSE 100: UP 1.2 percent at 10,806.41 (close)

Paris - CAC 40: UP 0.5 percent at 8,559.07 (close)

Frankfurt - DAX: UP 0.8 percent at 25,175.94 (close)

Tokyo - Nikkei 225: UP 2.2 percent at 58,583.12 (close)

Hong Kong - Hang Seng Index: UP 0.7 percent at 26,765.72 (close)

Shanghai - Composite: UP 0.7 percent at 4,147.23 (close)

Dollar/yen: UP at 156.46 yen from 155.87 yen on Tuesday

Euro/dollar: UP at $1.1805 at $1.1772

Pound/dollar: UP at $1.3554 from $1.3489

Euro/pound: DOWN at 87.10 pence from 87.26 pence

Brent North Sea Crude: UP 0.1 percent at $70.85 per barrel

West Texas Intermediate: UP 0.3 percent at $65.42 per barrel

After completing the fifth and sixth reviews of the Extended Fund Facility, the IMF said on Wednesday around $2 billion will be unlocked for Egypt. It will be able to draw an extra $273 million under the Resilience and Sustainability Facility (RSF) after the first review was completed, the IMF said in a statement. "Egypt's macroeconomic situation has improved amid sustained stabilization efforts," it said.

"Tight monetary and fiscal policies together with exchange rate flexibility have helped restore macroeconomic stability, reduce inflation, and strengthen the external position." But it warned that structural reforms under the program have been "uneven" and efforts to reduce the state's footprint "have been slower" than predicted.

Engie is a private energy producer and distributor in France, with considerable renewable energy assets. It said the acquisition of UK Power Networks "is an essential step in rebalancing its infrastructure activities toward regulated electricity networks." It added the transaction will improve its growth and risk profiles via a higher share of regulated and predictable revenues and cash flows.

Engie said it expects the deal to close in mid-2026 subject to regulatory approvals, and that it would boost earnings within its first year. The company said it plans to pay for the acquisition via a mix of debt, raising capital and asset sales. Engie also published its 2025 results, which showed a 6.8 percent drop in net profits to 3.8 billion euros ($4.5 billion).

It has, however, raised questions about trade deals Washington has agreed since Trump's "Liberation Day" bombshell in April, with the European Union demanding clarity on the issue before ratifying its agreement. On Monday, Trump said on social media that countries that "play games" in the aftermath of the ruling, "will be met with a much higher Tariff, and worse, than that which they just recently agreed to". Japan said Tuesday that it would stick to a pact agreed last year.

Observers said 2026 could see more tariff-based friction but they did not expect it to be as painful for markets as last year's upheaval. "While the legal 'means' through which tariffs are implemented may change, the macroeconomic 'ends' will remain largely the same," said Michael Brown at Pepperstone. "Hence, the overall impact on growth, unemployment, inflation, or any other economic variable, as well as on the monetary and fiscal outlooks, should prove minimal at most." Sentiment in Asia was dragged Tuesday, however, by renewed concerns about the impact of artificial intelligence on the tech sector, with software firms again in the firing line.

The latest blow came from a report Sunday by a firm called Citrini Research that used possible scenarios set in the future showing parts of the global economy that could be at risk from new tools, such as credit card and food delivery firms. Adding to the downbeat mood was a post by Anthropic saying its Claude chatbot could help to update the COBOL programming language used on IBM computers. IBM fell more than 13 percent in New York. "One minute, investors were gaming Supreme Court rulings and 15 percent blanket levies... the next, they were pricing in the possibility that code writes code and legacy business models become museum pieces," said Stephen Innes of SPI Asset Management.

The releases come after Anthropic earlier this month unveiled a model that could replace numerous software tools, including for legal work and data marketing. That compounded fears that had already been mounting over the vast sums companies such as Microsoft and Meta have been spending on AI infrastructure and when investors will see returns, if ever. Still, while all three main indexes on Wall Street sank at least one percent, Asia fared slightly better, though there were nerves.

Seoul, the standout market this year thanks to a shift into chip giants such as Samsung and SK hynix, climbed more than one percent to another record, while Tokyo also advanced as it reopened after a long weekend. Shanghai returned from a week-long holiday to rally, with Wellington, Taipei and Jakarta also faring well. However, Hong Kong, Sydney, Singapore and Manila retreated. The risk-off outlook helped safe-haven gold hold Monday's rally, with the precious metal sitting around $5,200, while bitcoin was stuck just above $64,000, having dropped from around $68,000.

- Key figures at around 0230 GMT -

Tokyo - Nikkei 225: UP 0.8 percent at 57,256.55 (break)

Hong Kong - Hang Seng Index: DOWN 1.7 percent at 26,631.94

Shanghai - Composite: UP 1.0 percent at 4,123.20

Euro/dollar: DOWN at $1.1782 from $1.1792 on Monday

Pound/dollar: DOWN at $1.3490 from $1.3492

Euro/pound: DOWN at 87.33 pence from 87.40 pence

Dollar/yen: UP at 154.95 yen from 154.68 yen

West Texas Intermediate: UP 0.2 percent at $66.44 per barrel

Brent North Sea Crude: UP 0.2 percent at $71.63 per barrel

New York - Dow: DOWN 1.7 percent at 48,804.06 (close)

London - FTSE 100: FLAT at 10,684.74 (close)

The US president has doubled down on imposing tariffs on trading partners since the high court on Friday struck down many of his sweeping and often arbitrary duties, in a rebuke of his signature economic policy. His sector-specific tariffs on goods like steel and autos remain intact, but the ruling sets the stage for a complex fight for refunds elsewhere. The new duty taking effect Tuesday only lasts for 150 days unless extended by Congress and is widely seen as a bridge towards more durable trade policy.

US Customs and Border Protection has said it would stop collecting tariffs struck down by the court starting Tuesday, too. It separately said it would start collecting the new 10-percent tariffs Tuesday. The conservative-majority court ruled six to three that Trump had exceeded his authority in using a 1977 law to impose sudden tariffs on individual countries. Trump's new tariff will apply to $1.2 trillion worth of imports on an annual basis or about 34 percent of total goods imported, said Erica York, vice president of federal tax policy at the Tax Foundation.

"The Trump tariffs amounted to an average tax increase per US household of $1,000 in 2025," she added. With Trump's global tariffs imposed under the International Emergency Economic Powers Act ruled illegal, his new and existing duties are still set to "result in a household burden of $700 in 2026," she said. Trump insisted Monday that the Supreme Court gave him "far more powers and strength" with its ruling, adding that he could "use licenses to do absolutely 'terrible' things to foreign countries."

"With his tariff wings clipped, Trump needs a new tool to express displeasure on actions by others," said Wendy Cutler, a former US trade official. "Threatening steep licensing fees is an alternative but it lacks the flair and quantitative nature of tariffs," added Cutler, senior vice president at the Asia Society Policy Institute. Trump also threatened Monday to hike tariffs on countries that choose to "play games" following the court decision, in a warning to nations that recently struck trade deals with Washington under the threat of duties.

Over the past year, Trump has imposed various tariff rates on partners -- sometimes changing them on short notice -- to cajole and punish both friend and foe. He has used this as leverage in trade talks. US Trade Representative Jamieson Greer said Sunday on CBS that tariff agreements remain in force despite the ruling: "We expect our partners to stand by them." But the threatened 15-percent duty, for some countries like Britain and Australia, exceeds a 10-percent rate they faced under the previous program.

Cutler warned that Trump's actions could intensify US partners' disappointment. While it is doubtful that they would retaliate, they could step up efforts to diversify away from the United States, she said.

Shortly after the court's 6-3 ruling that rejected the president's authority to impose tariffs under a 1977 economic emergency powers act, Trump had initially announced a new 10 percent global levy by invoking a different legal avenue. At the same time, the Republican launched an extraordinary personal attack on the conservative justices who had sided with the majority, slamming their "disloyalty" and calling them "fools and lap dogs."

The ruling was a stunning rebuke by the high court, which has largely sided with the president since he returned to office, and marked a major political setback in striking down Trump's signature economic policy that has roiled the global trade order. Saturday's announcement is sure to provoke further uncertainty as Trump carries on with a trade war that he has used to cajole and punish countries, both friend and foe.

It is the latest move in a process that has seen a multitude of tariff levels for countries sending goods into the United States set and then altered or revoked by Trump's team over the past year. The new duty by law is only temporary -- allowable for 150 days. According to a White House fact sheet, exemptions remain for sectors that are under separate probes, including pharma, and goods entering the US under the US-Mexico-Canada agreement.

On Friday, the White House said US trading partners that reached separate tariff deals with Trump's administration would also face the new global tariff. Friday's court ruling did not impact sector-specific duties Trump separately imposed on steel, aluminum and various other goods. Government probes still under way could lead to additional sectoral tariffs. But it nevertheless marked Trump's biggest defeat at the Supreme Court since returning to the White House 13 months ago. The court has generally expanded his power.

Trump heaped praise on the conservative justices who voted to uphold his authority to levy tariffs -- Clarence Thomas, Samuel Alito and Brett Kavanaugh, a Trump nominee -- thanking them "for their strength and wisdom, and love of our country." The president alleged the majority of six justices, including two nominated during his first term, had been "swayed by foreign interests."

"I think that foreign interests are represented by people that I believe have undue influence," he said. Shares on Wall Street -- a metric closely watched by Trump -- rose modestly Friday after the decision, which had been expected. Business groups largely cheered the ruling, with the National Retail Federation saying this "provides much-needed certainty" for companies. In court arguments, the Trump administration said companies would receive refunds if the tariffs were deemed unlawful. But the Supreme Court's ruling did not address the issue.

Trump said he expected years of litigation on whether to provide refunds. Kavanaugh noted the refund process could be a "mess." Several countries have said they are studying the Supreme Court ruling and Trump's subsequent tariff announcements. German Chancellor Friedrich Merz said Saturday he would hold talks with European allies to formulate "a very clear European position" and joint response to Washington before he travels to the US capital in early March.

On the domestic front, Pennsylvania Governor Josh Shapiro, a Democrat, said on X it was time for Trump to "listen to the Supreme Court, end chaotic tariffs, and stop wreaking havoc on our farmers, small business owners, and families."

"We are hopeful that negotiation will lead to a sustainable and negotiated solution," he said, though he added that "Iran remains fully prepared to defend itself against any threat or act of aggression." West Texas Intermediate was down 0.9 percent at $62.33 per barrel after earlier rising 1.5 percent, while international benchmark Brent North Sea Crude slipped 1.8 percent to $67.42. "There's speculation that Iran could agree to dilute its most highly enriched uranium in exchange for the full lifting of financial sanctions, but it's not clear if that will be enough to seal a deal between the two parties," said Aarin Chiekrie, analyst at Hargreaves Lansdown.

Wall Street was vacillating earlier in the session but eventually closed marginally higher. "Insurance brokers, wealth advisors, real estate services, and logistics were all in the firing line last week, and investors are cautiously watching for what slice of the market could be next on the AI hit list," Chiekrie added. European stocks closed in the green with London and Frankfurt adding 0.8 percent, while Tokyo retreated and Chinese markets were again shut for the Lunar New Year.

Official data showed UK unemployment rising to a five-year high, and analysts said the reading of 5.2 percent for the final quarter of last year increased the likelihood of the Bank of England cutting its benchmark interest rate next month. The greenback fell against the yen. Europe's biggest economy Germany is unlikely to rebound in 2026 as geopolitical uncertainty, high costs and weak domestic demand weigh on growth, the country's Chamber of Industry and Commerce said Tuesday.

Germany returned to weak growth in 2025 after two years of recession. Shares in German agrochemical giant Bayer rose almost eight percent, meanwhile, as it revealed subsidiary Monsanto had proposed a class settlement of up to $7.25 billion to settle claims that the Roundup weedkiller causes blood cancer, potentially drawing a line under years of costly litigation.

- Key figures at around 2200 GMT -

New York - Dow: UP 0.1 percent at 49,533.19 points (close)

New York - S&P 500: UP 0.1 percent at 6,843.22 (close)

New York - Nasdaq: DOWN 0.1 percent at 22,578.38 (close)

London - FTSE 100: UP 0.8 percent at 10,556.17 (close)

Paris - CAC 40: UP 0.5 percent at 8,361.46 (close)

Frankfurt - DAX: UP 0.8 percent at 24,998.40 (close)

Tokyo - Nikkei 225: DOWN 0.4 percent at 56,566.49 (close)

Hong Kong - Hang Seng Index: closed for holiday

Shanghai - Composite: closed for holiday

Euro/dollar: FLAT at $1.1854 from $1.1854 on Monday

Pound/dollar: DOWN at $1.3568 from $1.3630

Dollar/yen: DOWN at 153.29 yen from 153.48 yen

Euro/pound: UP at 87.37 pence from 86.98 pence

West Texas Intermediate: DOWN 0.9 percent at $62.33 per barrel

Brent North Sea Crude: DOWN 1.8 percent at $67.42 per barrel

Sydney also finished higher but the Lunar New Year holiday period meant that trading floors were shut in Hong Kong, Shanghai, Seoul and Taipei. West Texas Intermediate was up 0.1 percent at $62.40 per barrel, while Brent also rose 0.1 percent to $67.51

Oil prices had dropped Tuesday as Iran appeared upbeat after talks with US officials. That followed an earlier rise when Trump ramped up threats towards Iran, a large crude producer, but Iranian Foreign Minister Abbas Araghchi said "a new window of opportunity has opened". "We are hopeful that negotiation will lead to a sustainable and negotiated solution," he said, though he added that "Iran remains fully prepared to defend itself against any threat or act of aggression".

The announcement on the first round of investments by Japan detailed commitments of $36 billion for three infrastructure projects and came as the country comes under pressure to deliver on its pledges made in 2025 in return for lower US trade tariffs. "Investors are likely to focus on Japanese companies tied to gas-fired power generation, crude oil exports, and synthetic diamonds," sectors targeted by these initial US investments, noted analysts at Tokai Tokyo Intelligence.

Traders are also keeping an eye on artificial intelligence this week, as tech CEOs and global leaders rub shoulders at the AI Impact Summit in New Delhi. Touted as the biggest edition yet, the five-day summit aims to declare a "shared roadmap for global AI governance and collaboration". While frenzied demand for generative AI has turbocharged profits for many tech companies, anxiety is growing over the risks that it poses to society and the environment.

- Key figures at around 0630 GMT -

Tokyo - Nikkei 225: UP 1.0 percent at 57,143.84 (close)

Hong Kong - Hang Seng Index: closed for holiday

Shanghai - Composite: closed for holiday

Dollar/yen: UP at 153.44 yen from 153.29 yen on Tuesday

Euro/dollar: DOWN at $1.1843 from $1.1854

Pound/dollar: DOWN at $1.3557 from $1.3568

Euro/pound: DOWN at 87.36 pence from 87.37 pence

West Texas Intermediate: UP 0.1 percent at $62.40 per barrel

Brent North Sea Crude: UP 0.1 percent at $67.51 per barrel

New York - Dow: UP 0.1 percent at 49,533.19 points (close)

London - FTSE 100: UP 0.8 percent at at 10,556.17 (close)

According to the case documents, unidentified hackers stole $101 million from BB's accounts with the Federal Reserve Bank of New York on February 5, 2016.  Of the amount, $81 million was transferred to four accounts with Rizal Commercial Banking Corporation in the Philippines, while another $20 million was sent to a bank in Sri Lanka.

However, the transfer of $20 million to Sri Lanka failed due to a spelling error made by the hackers. Later, Bangladesh Bank managed to recover about $15 million from the Philippines. Former Deputy Director (Accounts and Budgeting) of Bangladesh Bank Zobayer Bin Huda filed the case with Motijheel Police Station on March 15, 2016.

Cargo handling reached 8.266 million metric tons during the period, registering a 25.03 percent increase over the corresponding period of the previous fiscal year. Officials said the steady growth in maritime traffic reflects the port's expanding role in facilitating the country's import and export trade and reducing pressure on other seaports. Deputy Director of Mongla Port Authority Md. Makruzzaman said the port had already exceeded last year's total container handling volume with five months of the current fiscal year still remaining.

"To improve services for port users and accommodate more vessels, three new operational anchor berths - HP-1, HP-2 and HP-3 - have been declared at Hiron Point," he said. He added that on a trial basis, 16 commercial vessels with a draft of 9.00 meters have successfully completed operations at the new berths. The facilities can now accommodate vessels up to 200 meters in length with a maximum 9.00-meter draft, enabling larger cargo operations and quicker turnaround times. At present, the port handles imports of essential commodities including food grains, cement raw materials, clinker, fertilizer, automobiles, machinery, rice, wheat, coal, oil, stone, maize, oilseeds and LPG.

Exports through Mongla Port include white fish, shrimp, crab, frozen foods, jute and jute goods, clay tiles, silk fabrics and other locally manufactured products. Port stakeholders expressed optimism that ongoing infrastructural development and rising vessel calls would further enhance trade throughput and make a stronger contribution to the national economy in the years ahead.

In a formal message issued today, DBA President Saiful Islam noted that the absolute victory in the February 12 polls is a clear reflection of the public's trust in the leadership of the BNP Chairman. He observed that the successful implementation of the "Bangladesh First" slogan would fulfil the aspirations of the people and contribute to the overall economic development and prosperity of the country. He underlined that restoring discipline to the financial sector and the capital market is an urgent demand of the times. 

DBA President mentioned that addressing long-standing structural weaknesses, governance deficits, and policy inconsistencies is essential to ensuring sustainable economic growth. To achieve a transparent and accountable financial landscape, he identified the some priority areas including ensuring transparency and accountability across all financial institutions; encouraging the increased flow of both domestic and foreign investment; strengthening the capital market to serve as a primary source of long-term financing; restoring and maintaining investor confidence through disciplined operations; stablishing a modern, technology-dependent market structure; and ensuring a policy-supportive and stable regulatory environment.

He expressed its expectation that the government, under the leadership of Prime Minister Tarique Rahman, will effectively implement the commitments made in its election manifesto. He highlighted the importance of the government's plans for capital market reform to make the nation's economic progress more dynamic.

Saiful Islam pledged its full cooperation to the government's reform initiatives, aiming to build a strong, transparent, and sustainable capital market. He concluded its message with well-wishes for the Prime Minister's health, longevity, and success in leading the nation.

The Minister provided a detailed assessment of the current pipeline and existing inventory of daily necessities, asserting that the volume of goods is more than sufficient to maintain market equilibrium. He dismissed concerns regarding potential shortages, issuing a clear directive to the public that there is no reason for anxiety. "The stocks of daily necessities currently in our possession and in the pipeline are sufficient to keep the market stable during the month of Ramadan and the period following it. There is no cause for concern for the general public regarding supply," he stated.

Addressing the recurring issue of market syndicates, the Minister signalled a departure from historical verbal warnings, opting for a strategy defined by tangible outcomes. When questioned on his stance against market manipulation, he refused to provide mere sound bites, instead committing to a philosophy of showing results through work. Regarding Bangladesh’s graduation from Least Developed Country (LDC) status, the Minister revealed that work has started today on a strategy to defer the transition to ensure the economy is better prepared. 

He emphasized that this process requires seamless coordination between the Commerce Ministry, which initiates the move, and the Economic Relations Division (ERD). The Minister expressed concern over the current concentration of the country's export profile, noting that a single product category dominates 25% of the market and accounts for 50% of total export income.  To mitigate this, he laid emphasis on incorporating a wider range of goods into the export basket; actively seeking new international trade destinations and assisting private entities in entering the global trade arena.

He noted that these efforts face significant turbulence due to an unstable global environment. Specifically, he cited the American tariff regime and its sudden changes as a source of global uncertainty. For a developing nation, the Minister warned, the margin of error is slim, and the country cannot afford the luxury of mistakes caused by external disasters. The Minister highlighted that both foreign and domestic investments are contingent upon a stable environment.

He characterized the stagnated investment observed over the last two to three years as a huge liability that the country must urgently overcome. In his concluding remarks, the Minister described his approach as one rooted in teamwork, stating that the success of these ministries is a collective national effort rather than an individual one. He called upon the media and the public to act as partners, helping to identify and correct errors as the government works to move the country forward.

Copper is in demand as countries expand electrical networks to harness renewable energies. The red metal is now the biggest contributor to overall earnings at BHP, Henry said. "With four compelling growth options across Chile, Argentina, Arizona and South Australia, we are well positioned to capture the forecast higher long term copper prices," he said in a statement. The firm also reported record first-half shipments of iron ore from Western Australia.

Overall revenue climbed 10.8 percent from a year earlier to US$27.9 billion in the six months to December 31, BHP said. Profit surged 27.7 percent to US$5.64 billion in the same period. Looking ahead, BHP said it expected the global economy to grow by about three percent in 2026. "China's economy is resilient after meeting its around five-percent target last year. India continues to outperform," Henry said. "We are optimistic that the economic backdrop is supportive for our key commodities."

Considering LPG as an essential commodity for both industrial use and household consumption, the government has decided, in the public interest, to rationalise the tax structure to ease the burden on consumers and ensure market stability, said an the release. According to the release, following an application from the LPG Operators Association of Bangladesh (LOAB) and recommendations from the Ministry of Power, Energy and Mineral Resources, the government issued two separate statutory regulatory orders (SROs) on February 16. 

Under the new measures, effective until June 30, 2026, the 7.5 percent VAT at the local production and trading stages and the 2-percent Advance Tax at the import stage have been withdrawn. Instead, a 7.5 percent VAT has been imposed at the import stage of LPG. As a result of this restructuring, no VAT will be applicable on the value addition at the local production and distribution stages after import. 

This means that the tax will be collected only once at the import stage, eliminating multiple layers of VAT previously applied throughout the supply chain. The NBR said that from the effective date of the SROs, the overall VAT burden on consumers is expected to decrease by around 20 percent compared to the previous structure. Officials concerned believe that the decision will help maintain price stability in the LPG market, ensure uninterrupted supply, and provide relief to consumers, particularly middle- and lower-income households who rely heavily on LPG for cooking and other daily needs.

The move is also expected to support industrial users by reducing cost pressures and enhancing overall market efficiency. The NBR reiterated that the decision has been taken in the greater public interest and will remain in force until June 30, 2026, unless further extended or revised.

"From cutting hay to feeding the cattle to maintaining equipment, maintaining staff, feed, everything has gone up," he said. "When does that stabilize and stop?" Trump's latest move to boost Argentine beef imports is adding to concerns, vexing a key support base of the Republican president as midterm elections approach.

Stem, 40, has a herd of around 250 cattle in Ashland, Virginia. Most are sold at larger markets where they are purchased and fed to slaughter weight, while around 15 percent is processed nearby and sold at Stem's butcher shop. For him, higher beef prices have been a double-edged sword. His revenue from selling cattle has risen, but so have operational costs. And there are limits to how much he can hike consumer prices at his shop to make up the margins. "They will only spend but so much on a cut of beef, especially when you have imported meats that you can purchase for 50 percent to 60 percent less at a larger store," Stem said.

Already, ribeye that sold for $14.99 a pound in 2019 now sells for $32.99, he said. His customer sales have dropped by 30 percent. To afford the property, he has diversified operations at Oakdale into winemaking and hosting events like weddings. Steeper beef prices have become a symbol of high living costs in the world's biggest economy, which has fueled voter frustration. Last fall, Trump demanded that ranchers slash their prices. Trump has since exempted Brazilian beef from sharp tariffs, and moved this month to expand imports of trimmings from Argentina to cool ground beef prices. Yet, officials predict costs will keep creeping up.

Beef and veal prices were up 15 percent year-on-year in January while ground beef prices, which hit a new high in December, have continued climbing. Costs will likely stay elevated as consumer demand remains robust, while it takes years to rebuild American herds depleted by drought and import restrictions over a parasite. Meanwhile, American farmers and ranchers fear Trump's policies will undercut their production and profits. "We do need to feed the people of the United States," said Stem. "But we're opening a door that's going to, I think, significantly harm farmers."

"I'm a supporter of the Republican administration," he added. "I'm not a supporter of the of the unknowns that we get right now." The Ranchers Cattlemen Action Legal Fund United Stockgrowers of America warned recently: "Our industry is in a state of crisis and needs protection against price-depressing imports." Iowa farmer Lance Lillibridge told AFP that cattle producers have been "living off very skinny margins" for years. "People are getting tired of working this hard for nothing," he added. "Right now, our cattle prices are exactly where they should be."

But households are feeling the pinch. Endawnson Nungo, 56, a South Carolinian in the railroad industry, told AFP "we've cut back a lot" due to beef prices. At a butcher shop in Washington, scientist Caleb Svezia, 28, said he started noticing higher meat prices around six months ago. He has cut back on snacks when grocery shopping, to save up for better quality meats. Jamie Stachowski, who runs Stachowski's Market, said customers have pulled back. Like Stem, he has had to raise prices, lifting them by 30 percent over the past year. In turn, his sales dropped by 15 percent. Some consumers also pivoted from prime cuts to secondary ones -- or buy other meats altogether. "The beef industry is billions and billions of dollars," he said. "Yet everybody just makes pennies on the pound."

Market activity saw a sharp rise as a total of 46.42 crore shares and mutual fund units were traded. The total turnover on the premier bourse stood at Taka 1,275.09 crore. Out of the 394 companies traded, the prices of 364 issues advanced, 26 declined, and 4 remained unchanged. Based on the value of transactions, the top ten companies were City Bank, Dhaka Bank, Square Pharma, BRAC Bank, BSC, Robi Axiata, Saiham Cotton, Jamuna Bank, Islami Bank, and Orion Infusion.

The top ten companies with the highest price appreciation were One Bank, Munnu Fabrics, LankaBangla Finance, Asia Insurance, Daffodil Computer, NRB Bank, LR Global MF-1, Dhaka Bank, VFS Thread, and Dragon Sweater. The ten companies that saw the most significant price declines were Islami Bank, Zeal Bangla Sugar, Jute Spinners, Apex Spinning, Islami Finance, Ibn Sina, Al-Arafah Islami Bank, Shyampur Sugar, Aftab Auto, and Navana CNG. The Chittagong Stock Exchange (CSE) also ended on a positive note. Its overall index, CASPI, gained 484.37 points. Of the traded issues, prices of 220 companies advanced, 17 declined and 10 remained unchanged.

This partnership marks a significant step toward building an inclusive, gender-smart, and climate-aligned capital market ecosystem in the country. The partnership brings together IIX’s global leadership in impact investing and gender-lens finance with DSE’s central role in the development of Bangladesh’s capital market. 

The Orange Movement is a global financial initiative launched in 2022 by IIX to integrate gender equality, climate action, and sustainable development into capital markets. It aims to mobilize US$10 billion by 2030 and empower 100 million women, girls, and gender minorities through Orange Bonds™, which are the first asset class to combine gender-lens investing with climate resilience.

Under the MoU, DSE will explore facilitating the listing of Orange Bonds and Sukuk under a dedicated thematic or sustainable finance category, subject to regulatory approvals. 

The collaboration will also focus on enhancing market readiness, raising awareness, and engaging with regulators to position Orange instruments as credible thematic debt securities within Bangladesh’s capital market.

“Capital markets play a vital role in channeling long-term finance toward national development priorities,” said Nuzhat Anwar, Managing Director of DSE. 

“Our collaboration with IIX reflects DSE’s commitment to deepening market, and supporting financial sustainable instruments that deliver measurable social and environmental outcomes alongside financial returns,” she added.

Professor Durreen Shahnaz, Founder and CEO of IIX, stated, “Bangladesh stands at a critical juncture in realigning its financial markets with the nation’s inclusive economic growth priorities. Dhaka Stock Exchange has been a pioneer in developing Bangladesh’s capital market ecosystem. We look forward to collaborating with DSE to jointly advance the Orange capital market, championing gender equality and climate action while strengthening trust, transparency, and credibility in Bangladesh’s financial system. By integrating global best practices and standards, the Orange Movement can help attract international investors to Bangladesh and establish stronger global financial linkages, with DSE serving as an anchor for the nation’s economic resurgence and sustainable development.”

The MoU further outlines plans for joint advocacy, market promotion, and capacity-building initiatives, including workshops, investor engagement programs, and policy dialogues with key stakeholders such as regulators, financial institutions, and development partners. All activities will be conducted in accordance with Bangladesh’s regulatory framework and subject to the oversight of the relevant authorities.

This partnership underscores a shared commitment by IIX and DSE to advancing sustainable finance innovation and positioning Bangladesh as a regional leader in inclusive and resilient capital market development. Debashish Roy, Director, Impact Investment Exchange; Arup Datta, Head of Corporate Advisory, BRAC EPL Investment Limited; Syed Rashed Hossain, CEO, BRAC EPL Investment Limited; Mohammad Asadur Rahman, FCS, COO, DSE; Dr. Md. Asifur Rahman, CTO, DSE; Md. Abid Hossain Khan, FCA, CFO, DSE; Mohammad Shafiqul Islam Bhuiyan, FCS, CRO (Acting), DSE; and Saied Mahmud Zubayer, DGM, Product and Market Development Department, DSE were also present at that time.

About Impact Investment Exchange (IIX) Since 2009, Impact Investment Exchange (IIX) has been a pioneer in the global impact investing movement, reshaping finance for sustainable development with a focus on gender equality and climate action through capital mobilization and data-driven solutions. From establishing the Impact Partners™ platform and creating the Women’s Livelihood Bond™ Series, to launching the Impact Institute™ and Research & Advisory, IIX operates across 60 countries, having mobilized nearly US$500 million in private capital, positively impacted over 185 million lives, avoided more than 1.9 million metric tons of carbon emissions, and collected over 90,000 data points on MSMEs globally.

Since 2009, Impact Investment Exchange (IIX) has been a pioneer in the global impact investing movement, reshaping finance for sustainable development with a focus on gender equality and climate action through capital mobilization and data-driven solutions. From establishing the Impact Partners™ platform and creating the Women’s Livelihood Bond™ Series, to launching the Impact Institute™ and Research & Advisory, IIX operates across 60 countries, having mobilized nearly US$500 million in private capital, positively impacted over 185 million lives, avoided more than 1.9 million metric tons of carbon emissions, and collected over 90,000 data points on MSMEs globally.

Dhaka Stock Exchange PLC. is the premier stock exchange of Bangladesh and a key institution in the country’s financial system. DSE plays a central role in capital mobilization, market development, and investor protection, supporting the growth of transparent, resilient, and innovative capital markets. DSE operates as a fully demutualized, modern securities exchange, committed to international standards of transparency, market integrity, and investor protection. DSE now operates from its state-of-the-art headquarters in Nikunja-2, Dhaka, serving as the cornerstone of Bangladesh’s capital market and a key platform for national economic growth.

The consumer price index (CPI) rose 2.4 percent year-on-year, the Department of Labor said, down from December's 2.7 percent and slightly below analysts' median forecast. This was the lowest level since May 2025. Trump lauded the report, telling reporters that inflation was "way down, and we have it back on track." Yet, affordability worries have come to the fore in recent months as price increases in areas like food weighed on households, and as Trump's tariffs flowed through the world's biggest economy.

Although tariffs have not triggered a broad inflation surge, firms have reported higher business costs. Many companies have tried to soften the blow by stocking up on inventory ahead of planned levy hikes and avoided passing on additional costs in full to consumers. Late last year, Trump also broadened a slate of tariff exemptions, particularly on agriculture imports, as he came under pressure from voters grappling with soaring costs of living. For now, CPI was up 0.2 percent on a month-on-month basis in January, inching down from December's 0.3 percent rise.

This was helped by a 1.5 percent month-on-month slide in overall energy costs, in part due to gasoline. But food costs remained 0.2 percent higher than in December, and were up 2.9 percent from a year ago. Still, "this is encouraging news for many American families that have been struggling," said Navy Federal Credit Union chief economist Heather Long in a note. US consumers in lower income groups have shown reluctance to spend on non-essentials, the Federal Reserve noted last month.

"The tariffs have had a clear impact on products such as furniture and appliances, but the key items in many family budgets are cooling off," Long said. "Gas prices, used cars and medical care all declined in January," she added. But Diane Swonk of KPMG warned that disruptions from a recent government shutdown are likely suppressing year-over-year inflation measures. "What's important is that goods prices still increased," she told AFP. Excluding the volatile food and energy sectors, core inflation was 2.5 percent, a touch below December's level.

"Even though consumers have seen, on average, the wages outpace inflation in recent years, it takes a long time to regain ground lost from those compounding price levels," Swonk said. Swonk noted that despite various tariff threats since the beginning of the year, the Trump administration's actions have been "going in the other direction to try to mitigate those effects." These should bear fruit towards the back half of the year.

"We've still got some more bumps in inflation to endure, which is why the Fed will welcome this news, but they're not likely to cut on it," she said of Friday's data. "They need to see more sustained improvement in inflation to feel comfortable about where we're going." Although overall inflation has cooled, underlying price pressures, coupled with a jobs market that has proven more resilient than expected, could allow the Fed to continue holding interest rates steady for a while. The US central bank made three rate cuts last year but has been holding off further action, seeking to bring inflation back down to officials' two-percent target.

From May 1, zero levies will apply to all African countries except Eswatini, which maintains diplomatic relations with Taiwan. China claims the democratic island as its own and does not rule out using force to take it.

Many African countries are increasingly looking to China and other trading partners since US President Donald Trump imposed steep tariffs worldwide last year. Xi said the zero-tariff deal "will undoubtedly provide new opportunities for African development", announcing the date as leaders across the continent gathered in Ethiopia for the annual African Union summit.

According to M Zaman, superintendent of the Hili Land Port Customs Department, several trucks carrying imported goods such as corn, spices, and fruits entered Bangladesh from India on Saturday afternoon. Unloading operations for these goods are already underway, and port activities have returned to their usual pace. Md. Yusuf Ali, plant quarantine officer at Hili Land Port, also confirmed that goods import and export activities, starting from 12:30 pm on Saturday, have been fully restored. Trucks carrying goods from India are entering the port, and the goods are being transferred to domestic trucks for distribution in various parts across the country.

Ferdous Rahman, president of the Hili C&F Agents Association, highlighted the significant impact of the brief shutdown, which lasted from February 11 to February 13. However, with the resumption of services today, goods are once again flowing between Bangladesh and India through the Hili Land Port. The reopening of the port is expected to facilitate the smooth continuation of trade between the two neighboring countries, marking a swift return to normalcy after the election-related closure.

“On behalf of BGMEA, I convey our sincere and heartfelt congratulations to you and to leaders and activists of all levels of the party for this unprecedented and sweeping victory,” the message said. The association described the electoral mandate as a reflection of the people’s aspirations for safeguarding democratic continuity and building a prosperous and equitable Bangladesh. It termed the outcome an “unforgettable milestone” in the nation’s democratic journey.

Expressing confidence in the new leadership, the BGMEA president said the dynamic and bold leadership of Tarique Rahman would help position Bangladesh as a respected and strong economic force on the global stage. Referring to the country’s ready-made garment (RMG) sector as the backbone of the national economy, BGMEA noted that the industry currently stands at a critical juncture in its development trajectory.  The association underscored the importance of visionary policy support and a business-friendly approach from the new government to address post-LDC graduation challenges, ensure uninterrupted energy security, and consolidate Bangladesh’s competitive position in the global apparel market.

“The RMG sector is facing multifaceted global challenges following Bangladesh’s graduation from the LDC category. Ensuring sustainable growth will require pragmatic policy measures, stable energy supply and strategic trade support,” the message added. The BGMEA expressed strong optimism that with the full support and guidance of the new government, the sector would be able to realize its national target of increasing garment exports to US$100 billion by 2030. It also voiced hope that under Tarique Rahman’s direction, the “Made in Bangladesh” brand would further strengthen its global reputation as a symbol of excellence and resilience.

The association further congratulated BGMEA members who were elected Members of Parliament with overwhelming public support in the recent election. It said their active participation in the Jatiya Sangsad would play a significant role in resolving sectoral challenges and strengthening the overall economy. The BGMEA also expressed its expectation that the new government would establish a stable, innovative and robust economic framework where investors can operate with confidence and Bangladesh can advance toward greater economic prosperity.

The association concluded its message by wishing Tarique Rahman good health, longevity and continued success in leading the nation in the days ahead.

But any actions aimed at undoing Trump's tariffs on Canada and other trading partners will still need US Senate passage and the president's signature. Even if it clears the Senate, it would face a certain veto by Trump, and Congress would unlikely muster the two-thirds majority needed to override a veto. Trump sought to inject himself into the action at the last minute, issuing a direct political threat to lawmakers from his own Republican Party as the vote was taking place on the House floor.

"Any Republican, in the House or the Senate, that votes against TARIFFS will seriously suffer the consequences come Election time," Trump posted on his Truth Social platform. "TARIFFS have given us Economic and National Security, and no Republican should be responsible for destroying this privilege," he added. Wednesday's rebuke comes after the expiration of a measure barring any vote on the issue of tariffs in the chamber -- a move that has stifled opposition to Trump's trade policy.

House Speaker Mike Johnson, a Trump ally in Congress, sought to renew this prohibition on Tuesday but was unsuccessful, as three House Republicans voted alongside Democrats to block the move. Earlier Wednesday, House Republican Don Bacon posted on social media that lawmakers "cannot & should not outsource our responsibilities." "As an old fashioned Conservative I know tariffs are a tax on American consumers," he added, noting that debates and votes on the issue should occur in the House.

Canada -- like other US trading partners -- has been hit by various waves of Trump's tariffs since he returned to office early last year, tapping emergency economic powers to justify the duties. Broad exemptions for Canadian goods however have softened the blow. Trump may have imposed a 35-percent tariff on many Canadian products last year, but he provided lower rates for energy imports and created sweeping exclusions for goods entering under the US-Mexico-Canada trade agreement (USMCA).

Trump's separate sector-specific tariffs -- especially on autos, steel and aluminum -- have hit Canada hard. But overall, more than 85 percent of all bilateral trade has remained tariff-free under USMCA terms. Trump's country-specific tariffs, justified by emergency economic powers, have faced legal challenges too and the Supreme Court is due to rule on their legality in the near future. While Trump has repeatedly touted tariffs as a positive development for the country, a Pew Research Center survey released this month indicated that 60 percent of Americans disapprove of Trump's higher tariffs.

Shrestha is a seasoned development leader with over 27 years of professional experience, including 23 years at ADB. Prior to this appointment, Shrestha was Deputy Director General for SARD. She has also served as Deputy Director General of ADB’s Independent Evaluations Department, Assistant Secretary, Director in the Financial Sector and Trade Division for Southeast Asia, and Deputy Country Director for Indonesia, said an ADB press release.

In earlier professional roles in ADB, she gathered extensive operations experience across Central and West Asia, South Asia, and Southeast Asia.  A national of Nepal, Shrestha holds doctorate and master’s degrees in?economics from University of California in the United States. She also has a bachelor’s degree in economics from Smith College, Massachusetts.

ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.

The BBS data showed that point-to-point food inflation slightly increased to 8.29 percent in January, 2026 compared to 7.71 percent in December, 2025. On the other hand, the non-food inflation rate, however, declined to 8.81 percent in January, 2026 down from 9.13 percent in the previous month. Meanwhile, inflation in both the rural and urban areas recorded slight increase in the last month.

He said overall situation at the port would become normal “gradually from today”. The press conference was called as protesting workers called afresh the indefinite shutdown after two days of pause following previous six days of work abstention under the banner of “Chattogram Bandar Rakkha Sangram Parishad” or “Chattogram Port Protection Movement Council”. The workers are mounting protests against planned leasing out of the port’s New Mooring Container Terminal to Dubai-based DP World but Moniruzzaman said right now there was no chaos at the port.

“Vehicles are operating normally and officials and employees have confirmed their intention to work,” he said but warned that no one should debar them from performing their duties. The CPA chief, however, alleged that some striking employees were trying to hold the port hostage being influenced by external forces and asked them to abide by the code of their service being loyal to the State and the Constitution.

He said despite the actions of these “misguided” actions, the port operations were continuing smoothly and those who were causing disruptions were actually acting against the state and the people, aiming to create unrest ahead of the holy fasting month of Ramadan. The CPA chief said the government was not trying to ink the deal in haste despite speculations this was being done in unusual swiftness.

“I don't see any rush” on government’s part to lease out the terminal to the foreign company and had it been so the process would have been completed within the past 17 months. He said the notion that the agreement was being signed before the elections was “baseless” as "the agreement has not been finalized yet” and “misleading information is being spread prematurely”. "Protests and work stoppages began at the port after the High Court verdict. The matter is now progressing through the legal process, and the next steps will be taken after exhastion of required process in the Supreme Court," he said.

The CPA chief, however, said the “state's decisions will prioritize the interests, needs, and welfare of the people and the country" but added “until the agreement is signed, the details cannot be confirmed”. He also commented “misinformation is hindering the process".

The high-profile briefing, organized by the bank's Department of Communications and Publications, will be graced by Bangladesh Bank Governor Dr. Ahsan H. Mansur as the chief guest. He will be joined by senior leadership, including the deputy governors, the Bangladesh Bank Advisor, and the Head of the Bangladesh Financial Intelligence Unit (BFIU).  Other key officials slated to attend include the Executive Director of the Monetary Policy Department (MPD), the Executive Director of the Research Department, and the bank's Spokesperson and Assistant Spokesperson.

This upcoming MPS is regarded as a critical framework for the second half of FY26, as the central bank aims to balance inflation containment with the necessary credit flow to support economic growth. Financial analysts expect the statement to provide essential clarity on interest rate paths and liquidity management strategies intended to maintain macroeconomic stability through the end of the fiscal year.

The PPP Authority made the remarks at a press conference at the Foreign Service Academy. Despite the positive feedback on the process, Ashik Chowdhury noted that DP World has requested additional time to review the Draft Concession Agreement. With only two working days remaining in the current schedule, he suggested a high probability that these negotiations will continue beyond the upcoming election period and into the next administration to ensure a thorough review.

He clarified that the project is being conducted under a Government-to-Government (G2G) framework, stemming from a Memorandum of Understanding (MOU) between two governments. The primary entities involved in this project-specific partnership are the Chittagong Port Authority (CPA) and DP World, he added. While the PPP authority is deeply involved in the process to ensure the negotiations are streamlined, Ashik Chowdhury emphasized that they do not act as the final decision-makers; rather, they support the contracting authority throughout the process.

Although the NMCT project was initially launched in 2019, he said, it has entered a final and highly intensive stage of negotiation over the past month. These talks are currently ongoing across various levels of the government to reach a successful conclusion, he added. Ashik Chowdhury, however, said that improving Bangladesh's port efficiency and infrastructure is important for successful LDC graduation and attracting foreign investment. 

He highlight that Bangladesh must operate global-standard ports to shed the image of being "inefficient and corrupt." Ashik Chowdhury stressed that deep national interest issues, such as port development, should be mandatory and require political consensus. He lamented that political divisions often lead to opposition for the sake of opposition, which hinders the country's progress. He expressed hope that future governments will follow the established project pipeline to see significant investment improvements within the next three to five years. Chief Adviser's Press Secretary Shafiqul Alam, among others, was present on the occasion.

The additional 25 percent US duty will be removed at 12:01 am Eastern Time on Saturday. The executive order comes days after Trump announced a trade deal to reduce tariffs on India, saying that Prime Minister Narendra Modi had promised to stop buying Russian oil over the war in Ukraine. The pact would also see Washington cutting so-called "reciprocal" levies on Indian products to 18 percent, down from a 25-percent level.

The rollout of this reduction is still to come. Other terms of the agreement include the removal of tariffs on certain aircraft and parts, according to a separate joint statement released Friday by the White House. The statement added that India intends to purchase $500 billion of US energy products, aircraft and parts, precious metals, tech products and coking coal over the next five years. The shift marks a significant reduction in US tariffs on Indian products, down from a rate of 50 percent late last year.

The deal eases months of tensions over India's oil purchases, which Washington says fund a conflict it is trying to end. It restores close ties between Trump and Modi, a fellow right-wing populist that the US leader has described as "one of my greatest friends." The 18 percent tariff level also gives Indian exporters a slight edge in the US market over competitors in the region who secured duties of around 19 percent to 20 percent, said Wendy Cutler, senior vice president at the Asia Society Policy Institute, this week.

The levies "may be imposed on goods imported into the United States that are products of any country that directly or indirectly purchases, imports, or otherwise acquires any goods or services from Iran", the order said. Trump issued a threat of 25 percent tariffs on any country trading with Iran last month. This order establishes a process for his administration to impose tariffs on goods from those countries. The rate is to be determined by Secretary of State Marco Rubio, although the order specifies that it could be "for example" 25 percent, the level first mentioned by the US president in mid-January.

Tariffs would affect trade with a number of countries including Russia, Germany, Turkey and the United Arab Emirates. More than a quarter of Iran's trade is with China, with $18 billion in imports and $14.5 billion in exports in 2024, according to World Trade Organization data. The talks on Friday in Muscat, mediated by Oman, were the first between the two foes since the United States joined Israel's war with Iran in June with strikes on nuclear sites.

"We likewise had very good talks on Iran," Trump told reporters on board Air Force One en route to his Mar-a-Lago resort in Florida, adding, "we're going to meet again early next week." Diplomatic relations between Iran and the US broke down with the 1979 Islamic Revolution that brought the current government into power after hostages were taken at the US embassy in Tehran for 444 days. Direct engagement has been rare in the decades since.

Iran remains under an internet blackout amid a harsh government crackdown on economic protests that began in December across the country. The US-based Human Rights Activists News Agency (HRANA) said Friday it has confirmed 6,505 protesters were killed, as well as 214 members of the security forces and 61 bystanders.

It ended at 50,115.67, up more than 1,200 points, or 2.5 percent. The 50,000 mark constitutes "a nice big number," said Briefing.com analyst Patrick O'Hare. "What it really reflects is a market that's broadening out and buying into the growth story." The landmark in New York came on a mixed day for global stocks, while bitcoin and precious metals both won significant gains, extending a period of volatility across markets.

US stocks had been under pressure this week, with the Nasdaq falling the last three sessions following big drops in software equities and some tech giants related to the AI push. On Friday, Amazon was the biggest loser on the Dow, falling 5.6 percent after announcing it planned $200 billion in capital spending in 2026 to build up AI capacities. While investors continue to worry Amazon and other AI "hyperscalers" may not see a sufficient return on massive investments, their plans will bolster infrastructure, banking and other sectors. Caterpillar, 3M, JPMorgan Chase, Goldman Sachs, Amgen and Nvidia all rose at least four percent Friday.

The AI plans mean "massive amounts of money are going to be deployed and that filters out to other companies," said O'Hare. Gina Bolvin, of Bolvin Wealth Management, said Friday's gains showed "confidence is real" in terms of the outlook for earnings growth. "Equity investors are likely to be rewarded -- but the path won't be smooth," Bovin said in a note. "Volatility should be expected. For investors, this is a reminder to stay intentional: lean into quality businesses with strong earnings power and be prepared for more rotation, not straight-line gains."

Earlier milestones for the Dow include when it hit 40,000 points in May 2024 and 30,000 points in November 2020. The index has risen fairly steadily for most of the last two and a half years with the exception of the period around Donald Trump's April 2025 "Liberation Day" tariff proposals, which the president later walked back. "CONGRATULATIONS AMERICA," Trump said in a social media post celebrating Friday's benchmark.

Elsewhere, both gold and silver rebounded after bruising drops on Thursday, joining bitcoin, which climbed back above $70,000 after dropping to around $60,000 the prior day. After steep losses Thursday, European markets all pushed higher, while Asian bourses were mixed. In company news, shares in Jeep maker Stellantis plunged over 24 percent in Paris after it warned of a 22-billion-euro ($26-billion) write-down due to misjudging the shift in demand to electric vehicles.

Stellantis shares are now down around 80 percent over the past two years. Meanwhile, shares in British-Australian mining giant Rio Tinto finished flat in Sydney after it dropped merger talks with Swiss resources firm Glencore. The deal would have created the world's biggest mining firm, worth about $260 billion.

Rio Tinto's London-listed stock edged 0.3 percent higher on Friday, while Glencore climbed 1.5 percent, clawing back some of the previous day's losses. Toyota jumped two percent in Tokyo after hiking profit and sales forecasts for the current fiscal year despite the impact of US tariffs.

- Key figures at around 2115 GMT -

New York - Dow: UP 2.5 percent at 50,115.67 (close)

New York - S&P 500: UP 2.0 percent at 6,932.30 (close)

New York - Nasdaq Composite: UP 2.2 percent at 23,031.21 (close)

London - FTSE 100: UP 0.6 percent at 10,369.75 (close)

Paris - CAC 40: UP 0.4 percent at 8,273.84 (close)

Frankfurt - DAX: UP 0.9 percent at 24,721.46 (close)

Tokyo - Nikkei 225: UP 0.8 percent at 54,253.68 (close)

Hong Kong - Hang Seng Index: DOWN 1.2 percent at 26,559.95 (close)

Shanghai - Composite: DOWN 0.3 percent at 4,065.58 (close)

Euro/dollar: UP at $1.1825 from $1.1777 on Thursday

Pound/dollar: UP at $1.3615 from $1.3531

Dollar/yen: UP at 157.09 yen from 157.04 yen

Euro/pound: DOWN at 86.82 pence from 87.04 pence

West Texas Intermediate: UP 0.4 percent at $63.55 per barrel

Brent North Sea Crude: UP 0.7 percent at $68.05 per barrel

Under normal conditions, the port moves around 2,000 to 2,500 export containers daily.  However, the release said, recent work stoppages have almost completely halted operations, leaving export consignments and container movements in limbo. EuroCham said its members and European brands sourcing from Bangladesh are increasingly alarmed as export schedules collapse, delivery windows are missed and additional logistics costs mount. 

It estimated that export goods worth around US$660 million, equivalent to nearly Tk 80 billion, are currently stuck in approximately 13,000 containers at port facilities, private inland depots and vessels unable to berth or depart. Stressing the wider implications, EuroCham Bangladesh said predictable, uninterrupted and efficient port operations are vital to safeguarding export performance, protecting millions of jobs supported by overseas demand and maintaining Bangladesh's reputation as a reliable sourcing destination for European and global markets.

The chamber urged all relevant stakeholders to take immediate steps to fully resume normal port operations, resolve ongoing disputes through constructive dialogue in a manner that safeguards national economic interests, and advance port modernisation initiatives to enhance efficiency, reliability, competitiveness and predictability. EuroCham Bangladesh reaffirmed its commitment to supporting business growth and strengthening Bangladesh's trade infrastructure, saying it stands ready to engage constructively with authorities and stakeholders to help ensure a stable, efficient and future-ready port system.

According to available data, Chattogram Port handled more than 831,000 export container units valued at US$42.3 billion in fiscal year 2024-25, while textiles and ready-made garments account for around 80 percent of Bangladesh's total exports, making the country the world's second-largest garment exporter.

It said the Japan-Bangladesh Economic Partnership Agreement (EPA), signing on Friday in Tokyo, Japan marks a historic milestone in Bangladesh's trade diplomacy. This is Bangladesh's first-ever EPA, signed by Sk. Bashir Uddin, adviser for Commerce, Textiles and Jute, and Civil Aviation and Tourism of the government of Bangladesh, and HORII Iwao, state minister for Foreign Affairs of Japan. The agreement is the outcome of seven rounds of negotiations covering trade in goods and services and reflects a shared commitment to deepen economic engagement in a mutually beneficial manner.

Japan has long been Bangladesh's largest development partner, and as the country's largest ODA provider, its contributions have been instrumental in supporting Bangladesh's infrastructure development, industrial expansion, and overall economic transformation, said a press release. This agreement therefore represents not only a trade arrangement, but also the natural progression of a trusted and long-standing partnership. BGMEA also expressed its deepest appreciation to the interim government of Bangladesh for this timely and forward-looking initiative. As Bangladesh prepares for LDC graduation, securing stable and predictable market access through bilateral trade agreements has become an urgent national priority. In this context, the Japan-Bangladesh EPA is both strategic and timely.

From a trade perspective, the EPA is expected to significantly improve market access for Bangladesh's exports, particularly ready-made garments, which dominate Bangladesh's export basket to Japan. In FY2024-25, Bangladesh exported US$1,411.6 million worth of garments to Japan, while Japan's total global imports stood at approximately US$23 billion. Japan is the world's second largest garment importing country after the United States when considered as a single market. Despite this scale, Japan currently accounts for only about 3 percent of Bangladesh's total garment exports. As Bangladesh aspires to reach US$100 billion in garment exports by 2035, having the EPA in effect, increasing Japan's share to at least 10 percent should be a clear strategic objective. An initial assessment of the EPA shows that it favors the ready-made garment sector of Bangladesh by ensuring uninterrupted duty-free market access, and maintaining favorable rules of origin. At present, Bangladesh enjoys duty- free access to Japan under the GSP scheme. However, post LDC graduation, Bangladesh would otherwise face Japan's general MFN tariffs, which range from 8 to 15 percent for knitwear and from 10 percent to more than 15 percent for woven garments.

Under the EPA, customs duties on garment items will be eliminated entirely from the date of entry into force. Furthermore, Bangladesh is deeply thankful to Japan for the extraordinary flexibility extended in the rules of origin, particularly for garment products. Chapter 3 and Annex 2 of the agreement specify that garments produced under a single-stage processing will qualify for duty-free access in Japan under the EPA. This is similar to the current Japan GSP rules of origin and is among the most favourable arrangements for a garment-exporting country like Bangladesh. As the EPA creates a favourable and predictable trade environment, it is now imperative for Bangladesh to develop a clear roadmap to fully utilise its benefits and potential in line with the country's 100 billion dollar garment export vision. Bangladesh currently runs a trade deficit of approximately US$ 456 million with Japan; while the BGMEA believe the EPA will also play a significant role in reducing this gap.

It presents an opportunity to diversify exports beyond garments, while encouraging greater engagement from Japanese garment importers, retailers, machinery suppliers, and long-term investors. The Japan-Bangladesh EPA should be seen as the beginning of a broader and much-needed shift in Bangladesh's trade policy direction. The EPA should serve as a guiding light for further such agreements that will be required in the post-LDC period, along with the challenges of EU GSP+. Therefore, the EPA with Japan can be used as a negotiating guideline across other countries for the Ministry of Commerce and the government to fast- tracking negotiations and move forward without delay. The BGMEA also urged the Ministry of Commerce and all parties negotiating with the USTR to ensure that the signing is completed within this timeframe so that Bangladesh can start preparing itself with the preferential deal of utilizing U.S. cotton to attain zero tariff access.

Desormeaux was among 100 or so people turning up in near-freezing temperatures in Hyattsville, a suburb of the US capital Washington, to seek groceries for their families, as anxiety about living costs rises in the world's biggest economy. Although US economic growth has been solid, with President Donald Trump's administration touting Wall Street records and tax relief, analysts warn that a "K-shaped economy" has taken hold. This is a situation where wealthier households benefit from rising asset values, but median- and lower-income families increasingly struggle.

Nearly 60 percent of consumer spending in the third quarter last year came from the top 20 percent of income earners, according to Mark Zandi of Moody's Analytics. In the greater Washington area, some 36 percent of households experienced food insecurity in the past year, according to the Capital Area Food Bank. "We're seeing more individuals in what we would traditionally consider higher-income quartiles," said Radha Muthiah, the food bank's CEO. That means a family of four making $90,000 to $120,000 a year could find themselves in need of "extra assistance in putting food on the table," she told AFP.

A key reason is "prolonged, sustained levels of inflation" after the Covid-19 pandemic, with wage growth not keeping pace, Muthiah said. "People are suffering," Desormeaux said. Salih Taylor, a federal worker, said he had not considered visiting a food drive until speaking with his church's pastor. "I used to be like, 'I've got food, I don't need it,'" the 49-year-old told AFP. But he conceded: "It helps out a lot."

Food prices in December were 3.1 percent higher than a year ago, although Trump has said there is "virtually no inflation." While Taylor makes around $4,200 a month, his salary quickly goes towards his mortgage, utilities and food. Now, he occasionally collects free groceries, including for his mother. "I'm scraping," he chuckled dryly, saying his family has cut back on eating out and going on longer drives.

Pastor Oliver Carter of No Limits Outreach Ministries, which runs the distribution point in Hyattsville, said he sees rising demand and more immigrants seeking aid since food stamps were slashed for many asylum seekers. "Now, they're left to fend for themselves," he said. Federal funding cuts under the Trump administration also meant less support for food drives. "It's really a struggle now to continue doing what we do," he said. Beyond the US capital area, a New York Times/Siena poll in January flagged a widespread belief that a middle-class lifestyle is out of reach for most people.

For Delaware resident Tricia Jones, who has lived in a hotel room with her husband and toddler for months, this sentiment strikes home. Jones, 46, temporarily lost her income source after spinal surgery last year. Her family was soon unable to afford rent, and she turned to GoFundMe at one point to raise funds. While Jones and her husband are both employed now, she said: "The pay doesn't keep up with the cost of living."

"We don't get any assistance with childcare," she added. "I couldn't even get assistance with a hotel voucher, because they told me that I work." Meanwhile, the cost of groceries has climbed. A loaf of bread easily costs $6 and the price of milk has recently risen from $3.79 to $5.79, she said. With a salary of around $1,300, "there's no way I can pay $1,800 a month for rent on top of all my utilities and childcare," she said. "There's no way to stretch it."

The company expects capital expenditures between $175 billion and $185 billion in 2026, double its 2025 spending, to meet customer demand for AI products. Despite Alphabet relentlessly investing in computing infrastructure for AI, demand outstrips supply, according to chief executive Sundar Pichai. "We've been supply constrained even as we've been ramping up our capacity," Pichai said on an earnings call. Alphabet shares were down slightly more than one percent in after-market trades. Google's Gemini AI continued to grow quickly, ending the year with 750 million monthly users in an increase of 100 million from the previous quarter.

"We expect Google to overtake OpenAI this year for the top spot in AI," said Emarketer analyst Nate Elliott. Alphabet brought in $113.8 billion in the final three months of 2025, powered by its core search business and cloud computing, earnings figures showed. Alphabet reported profit of $34.5 billion in the recently ended quarter as revenue from cloud computing soared 48 percent to $17.7 billion.

"We're seeing our AI investments and infrastructure drive revenue and growth across the board," Pichai said. Google's core search and advertising business remained the primary revenue driver, generating $82.3 billion, up from $72.5 billion a year earlier. YouTube advertising revenues also grew strongly to $11.4 billion from $10.5 billion. The cash flowing in from online advertising gives Alphabet an advantage when it comes to investing in AI infrastructure.

Google said it now counts over 325 million paid subscriptions across consumer services, including Google One and YouTube Premium. The cloud division, which competes with Amazon Web Services and Microsoft Azure, has become a key growth engine for Alphabet. Alphabet continues to benefit from a US court ruling late last year that spared the Internet giant from having to sell off its Chrome browser to address monopoly concerns.

Google recently notified the court it will appeal the federal judge's ruling that it held an illegal monopoly on online search, court records show. Despite the robust growth, Alphabet's experimental "Other Bets" division, which includes autonomous vehicle unit Waymo, posted a loss of $3.6 billion on revenues of just $370 million. Self-driving car star Waymo said this week that it raised $16 billion in a funding round that valued the Alphabet subsidiary at $126 billion.

Alphabet was the majority investor in that funding round. Waymo co-chief executives Tekedra Mawakana and Dmitri Dolgov touted the massive investment as a sign that the age of large-scale autonomous mobility has arrived. "This infusion of capital will ensure we are positioned to move forward with unprecedented velocity, while maintaining our industry-leading safety standards," Dolgov and Mawakana said in a blog post. Last year, Waymo more than tripled its annual volume to 15 million rides and now provides more than 400,000 rides weekly in the six major US metropolitan areas where it operates, according to the company.

More recently, prices have rallied as Trump ramped up military threats against major oil producer Iran, but have since cooled on easing tensions between Washington and Tehran. Shell said its underlying earnings, which strip out some energy-price movements and one-off charges, dropped 22 percent to $18.53 billion last year. In the fourth quarter alone, net profit fell 22 percent from the previous quarter, to $4.1 billion.

"In Q4, despite lower earnings... cash delivery remained solid," chief executive Wael Sawan said in the statement. He added that Shell was raising its dividend to shareholders and would begin a new share buyback programme worth $3.5 billion. Shell's share price fell 1.5 percent following the update at the start of trading in London. 

"The final quarter was one which Shell will want to forget, although the numbers for the year as a whole were slightly more palatable," said Richard Hunter, head of markets at Interactive Investor. "The volatility of the oil price inevitably had an effect as tepid demand and oversupply put a dampener on any price progress," he added.

The international oil price benchmark, Brent North Sea crude, was down 1.7 percent at $68.31 per barrel on Thursday. Shell announced in November that it was ending its participation in two offshore wind projects in the North Sea, part of its shift away from alternative energy to focus on its fossil fuels business. The company, like some of its rivals, has scaled back various climate objectives in favour of more profitable oil and gas production.

Shell's British rival BP, which publishes its 2025 earnings next Tuesday, said last month that it would take a write-down of up to $5 billion linked to its own energy operations. Shell's end of year was marked by survivors of a deadly 2021 typhoon in the Philippines filing a UK lawsuit against the company, seeking financial compensation for climate-related harms. Typhoon Rai struck the southern and central regions of the Philippines in mid-December 2021, toppling power lines and trees and unleashing deadly floods that killed more than 400 people and left hundreds of thousands homeless. The lawsuit, brought by the British law firm Hausfeld on behalf of 103 survivors, argues that Shell's carbon emissions contributed to climate change, impacting Philippine communities.

Trump has used trade and tariffs -- which he has called his "favorite word" -- as a carrot and a stick to reshape international relations, as he sees fit. In a statement, Greer vowed to "work with Congress over the next year to modernize the program to align with" current US policy. A cornerstone of US-Africa trade relations for 25 years, the AGOA has allowed the United States to buy billions of dollars of duty-free cars, clothes and other items from select African countries each year. But the deal, which operates in 32 African nations, expired last September, affecting thousands of jobs and forcing exporters to absorb high tariff duties.

In 2024, $8.23 billion worth of goods were exported under the accord, half of which came from South Africa, mainly cars, precious metals and farm produce, and one fifth from Nigeria, mainly oil and other energy products, according to the United States International Trade Commission (USITC). Smaller countries were hard hit, too. Lesotho's textiles sector, the country's biggest employer, was hard hit by AGOA's expiration, and hundreds of workers demonstrated in the capital Maseru in late October against cuts sparked by the new American customs tariffs. Lesotho, which Trump described as a place "nobody has ever heard of," exported $150 million of goods under the accord in 2024.

"This is a growth market and Southeast Asia actually leads the world in terms of regional growth potential," he told a briefing during the Singapore Airshow. "A growing middle class and strong tourism demand are driving this rise in air travel across the region's domestic and international routes," he told journalists. To support the expected fleet growth of 4,885 new planes, Southeast Asia's aviation industry is expected to need 243,000 new professionals, including 62,000 pilots, 103,000 cabin crew and 78,000 new technicians, Hulst added.

Southeast Asia is a vast region where air connections play a vital role, particularly in archipelagic nations such as Indonesia. Regionally "air travel continues to be the most efficient way to connect people and places", Hulst said. Boeing on Tuesday signed a deal with Air Cambodia for 10 "narrowbody" 737 Max 8 passenger liners, the deal first to be announced at this year's Singapore Airshow. The two-engined plane usually carries 178 passengers and has a range of around 6,500 kilometres (4,000 miles). Now in its tenth year, the Singapore Airshow is the region's premier aviation exhibition event and features both civilian and defence companies.

Concerns over artificial intelligence have also kept traders on their toes amid questions over the vast sums invested in the sector and warnings of a bubble that could pop at any time. The latest flare-up came in New York, where markets were spooked by news that AI startup Anthropic -- which created the Claude chatbot -- had revealed a tool that could be used by firms to carry out legal work. The announcement hit firms in the software, financial services and asset management industries. Downbeat sales projections from Advanced Micro Devices compounded the darker mood.

Tech firms around Asia sank, though broader markets flitted between gains and losses. Hong Kong, Shanghai, Sydney, Seoul, Singapore, Wellington, Taipei and Bangkok rose but Tokyo, Manila and Mumbai slipped. The mixed day pointed to a return of stability after two days of sharp swings sparked by AI concerns and Donald Trump's hawkish pick to lead the Federal Reserve, which dampened interest rate cut bets. Precious metals rose for a second day, after tanking on Friday and Monday as the US president's tapping of Kevin Warsh -- a former Fed governor -- sent the dollar surging.

The greenback had been taking a battering for most of last week on worries Trump was happy to have a weaker currency. Gold was sitting just above $5,070 an ounce and silver around $89 -- both well off last week's record highs of $5,595 and $121 but up from the lows of $4,597 and $71 seen in the past two days. "Investors and traders are dipping their toes in the waters after the clear-out of a lot of the froth and leveraged speculative positions," said Saxo Markets' Neil Wilson.

This "A) might give them confidence that perhaps the worst of the volatility is over; and B) prices had plunged so much so fast they think it's worth a go at these levels. "A lot of people sitting on the sidelines for months feeling every day they'd missed their chance to get in will be part of this renewed wave of buying." Oil prices rose after it emerged a US fighter jet had taken out an Iranian drone that approached an aircraft carrier Tuesday.

That was the second clash that day between the two in Middle Eastern waters, after Iranian forces attempted to detain a US-flagged tanker in the Strait of Hormuz. The incidents come after Washington and Tehran agreed to talks despite Trump's repeated threat of military action against Iran -- and Iran's warning that it would respond with strikes on US vessels and bases. White House spokeswoman Karoline Leavitt told Fox News that US envoy Steve Witkoff is still expected "to have conversations with the Iranians late this week".

Traders were cheered by news that Trump had signed into law a congressional spending bill to fund government agencies while buying more time for lawmakers to negotiate over the administration's controversial immigration crackdown. Negotiations had broken down following the killing of two US citizens by federal agents in Minneapolis, the Minnesota city which has become the flashpoint for the Republican president's policies.

However, lawmakers now have just two weeks to negotiate a full-year Department for Homeland Security bill. In corporate news gaming giant Nintendo tanked 11 percent -- its biggest loss in 18 months -- after releasing disappointing quarterly earnings and amid concerns about its profitability due to a shortage of memory chips.

- Key figures at around 0700 GMT -

Tokyo - Nikkei 225: DOWN 0.8 percent at 54,293.36 (close)

Hong Kong - Hang Seng Index: UP 0.5 percent at 26,956.45

Shanghai - Composite: UP 0.9 percent at 4,102.20 (close)

Euro/dollar: UP at $1.1830 from $1.1829 on Tuesday

Pound/dollar: UP at $1.3713 from $1.3701

Dollar/yen: UP at 156.36 yen from 155.74 yen

Euro/pound: DOWN at 86.27 pence from 86.30 pence

West Texas Intermediate: UP 0.9 percent at $63.79 per barrel

Brent North Sea Crude: UP 0.8 percent at $67.88 per barrel

New York - Dow: DOWN 0.3 percent at 49,240.99 (close)

London - FTSE 100: DOWN 0.3 percent at 10,314.59 (close)

"After 11 consecutive years of growth in remittances, during which these inflows nearly tripled, 2025 confirms the end of this growth streak," Juan Jose Li, an analyst at the BBVA group, said in a report. He said the trend coincided with a drop in Mexican migration to the United States. Other risks to remittance flows in 2026 included a possible economic slowdown in the United States, which has been cracking down on undocumented migrant entries, as well as an appreciation of the Mexican currency against the dollar, said the expert.

In Mexico, Latin America's second-largest economy after Brazil, remittances in 2024 were equal to 3.5 percent of GDP. In 2025, the country's economy had its worst performance since the Covid-19 pandemic, growing 0.7 percent year-on-year as trade tensions with the United States took a toll. The Mexican government announced Tuesday it would increase public investment over the next five years, notably on infrastructure spending. It announced a spending plan totaling 5.6 trillion pesos (some $325 billion) for roads, railways and airports as well as energy, health and education, as it seeks to boost production and consumption.

The session brought together key stakeholders from the RMG, shipping, aviation, and development sectors, along with officials from the U.S. Embassy, Dhaka. AmCham President Syed Ershad Ahmed underscored that while the sector has evolved, it continues to lag behind regional competitors and remains poorly understood domestically.  He emphasized that global forces such as AI, automation, and decarbonization are reshaping the landscape, requiring Bangladesh to bridge knowledge and capacity gaps to support growing trade needs.

Highlighting the economic impact of the sector, Dr. M. Masrur Reaz, Chairman of Policy Exchange Bangladesh, noted that a mere 1% reduction in logistics costs could increase national exports by approximately 7%. He pointed out critical structural risks, including a heavy 70% reliance on the Dhaka–Chattogram corridor and the absence of a central logistics authority.  Dr. Reaz identified the Matarbari Deep Sea Port, Bay Container Terminal, and the third terminal of Hazrat Shahjalal International Airport as pivotal opportunities for long-term capacity building.

Regarding air logistics, Mahbubul Anam, Managing Director of CF Global, revealed that logistics costs at Dhaka airport are 20–25% higher than road transport. He stressed the need for cost rationalization and noted that while clearance facilities exist for the EU, direct cargo flights and cargo clearance for the United States remain pending. Nusrat Nahid Babi, Senior Transport Specialist at the World Bank, outlined a phased reform agenda focused on five pillars: policy simplification, multimodal infrastructure, skills development, digitalization, and investment. 

She specifically called for the formation of a Logistics Division under the Prime Minister’s Office (PMO) as promised in the NLP 2025 to ensure high-level coordination. On the financial and regulatory front, Md Moinul Huq, Citi Country Officer, urged customs authorities to operationalize the Customs Act 2023 by defining electronic document submission and payment modalities.  He also advocated for greater flexibility in import and export settlements to reduce the country’s heavy reliance on letters of credit.

Participants at the discussion emphasized moving decisively from policy intent to implementation. They called for ending government monopolies in rail and air cargo, increasing private and foreign investment in cold chains, and deploying AI-enabled cargo visibility systems to enhance the resilience and efficiency of the national supply chain.

Berenberg bank economist Felix Schmidt told AFP that the "big topic" at Thursday's meeting in Frankfurt "will obviously be the euro's strength against the dollar, and what officials will have to say about it". The dollar has been weakening -- and the euro strengthening -- for some time, in particular due to worries about US President Donald Trump's erratic stewardship of the world's biggest economy. But it extended gains sharply last week due to various factors, briefly hitting a four-and-a-half year high above 1.20 against the dollar when Trump appeared to welcome the US currency's weakening. The moves are causing jitters at the ECB -- a stronger euro makes imports cheaper, potentially adding to downward pressure on inflation, at a time officials were already worried about too sharp a slowdown.

While stressing recent gains were "modest", Austrian central bank governor Martin Kocher warned that the ECB might have to consider rate cuts if there were further increases in the euro. Lowering borrowing costs tends to support inflation while weakening currencies. "If the euro appreciates further and further, at some stage this might create of course a certain necessity to react in terms of monetary policy," Kocher, who sits on the ECB's rate-setting Governing Council, told the Financial Times. The ECB does not target any particular exchange rate, but officials do monitor currency movements as they could impact inflation.

A stronger euro is also problematic for the region's export-driven economies, particularly Germany, as it makes the cost of companies' goods pricier overseas. It could thus hit the eurozone economy at a time growth was starting to get back on track, potentially undermining efforts to close the gap with China and the United States. Chancellor Friedrich Merz said last week he understood concerns about the rising euro, calling it "a considerable additional burden for the German export industry".

A stronger euro is not all bad news -- it boosts household spending power, at home and on holidays overseas. The rise of the single currency also points to the growing appeal of Europe at a time of investor worries about the United States due to Trump's policies, from his tariff blitz to attacks on the Federal Reserve's independence. Trump on Friday nominated Kevin Warsh as the US central bank's next chief. A former Fed official, Warsh was long an inflation foe but has aligned his views with those of Trump officials seeking aggressive rate cuts. ECB President Christine Lagarde has previously sought to talk up the euro as a potential new global reserve currency, arguing the economic order backed by the dollar was "fracturing".

Still, ING economist Carsten Breski said the jitters over the stronger euro show that it is "hard to reconcile the ambition of a global euro with an export?orientated economy". Analysts expect the currency movements to have no impact on the ECB's rate call this week, and Lagarde will likely stay tight-lipped on the path ahead. But Brzeski said that, if the euro strengthens further, the chances of a cut at the central bank's next meeting in March "would clearly increase".

Washington has hit out at the country's leadership in recent weeks over its deadly response to anti-government protests last month, with Trump threatening military action while ordering the dispatch of an aircraft carrier group to the Middle East. He has also pushed for an agreement over Iran's nuclear programme. Supreme leader Ayatollah Ali Khamenei on Sunday likened the recent protests to a "coup" and warned that a US attack would trigger a broad conflict.

"The Americans should know that if they start a war, this time it will be a regional war," he said. Asked about the Iranian leader's warning, Trump told reporters on Sunday: "Of course he is going to say that. "Hopefully we'll make a deal. If we don't make a deal, then we'll find out whether or not he was right," he said. Oil's drop was helped by a stronger dollar, which came on the back of news that Trump had tapped Kevin Warsh to take the helm at the US central bank.

The president said Warsh, a former Morgan Stanley investment banker and Fed governor, "will go down as one of the GREAT Fed Chairmen, maybe the best". Traders regard Warsh as the toughest inflation fighter among the final candidates, raising expectations of monetary policy that would underpin the greenback. The choice also eased recent concerns about the Fed's independence following a series of attacks on incumbent Jerome Powell over his reticence to cut rates as quickly as the president wanted. The dollar surged across the board on the news, having taken a battering for most of last week on concerns the White House was happy to see it weaken.

While Warsh is seen as more open to keeping rates higher, Stephen Innes at SPI Asset Management said: "People do not get handed the keys to the most powerful central bank on earth because they plan to drive in the opposite direction of the people who gave them the keys. "The Fed may be independent, but personnel is policy, and this appointment was unlikely to have been made in a vacuum." The announcement sent dollar-priced precious metals plunging Friday, with gold losing as much as 12 percent and silver more than 30 percent at one point.

And the losses mounted on Monday, with gold shedding as much as six percent to touch $4,586, while silver briefly lost around 11 percent to $75. Both bounced back slightly but were well down from their record highs of $5,595 and $121 touched last week. The easing of Iran tensions added to the selling pressure on gold and silver, which are also considered go-to havens in times of turmoil and uncertainty. Most equity markets were in the red following a sell-off on Wall Street that came amid fresh concerns over the wisdom of the vast sums being invested in artificial intelligence and when traders will begin to see returns.

Seoul, which has hit multiple records this year thanks to its big tech weighting, sank more than two percent, while Hong Kong, Shanghai, Sydney, Singapore, Taipei and Manila were also well down. Tokyo rose.

- Key figures at around 0230 GMT -

Tokyo - Nikkei 225: UP 0.2 percent at 53,422.01 (break)

Hong Kong - Hang Seng Index: DOWN 1.7 percent at 26,919.07

Shanghai - Composite: DOWN 0.8 percent at 4,083.84

Euro/dollar: UP at $1.1870 from $1.1856 on Friday

Pound/dollar: UP at $1.3693 from $1.3688

Dollar/yen: UP at 155.00 yen from 154.64 yen

Euro/pound: UP at 86.68 pence from 86.63 pence

West Texas Intermediate: DOWN 3.5 percent at $62.92 per barrel

Brent North Sea Crude: DOWN 3.3 percent at $67.02 per barrel

New York - Dow: DOWN 0.4 percent at 48,892.47 (close)

London - FTSE 100: UP 0.5 percent at 10,223.54 (close) 

The Ready-Made Garments (RMG) sector maintained its role as the primary driver of the nation's exports, contributing $22,980.20 million during the July–January period. The sector registered a robust growth of 11.77 percent over the previous year, highlighting sustained global demand and the enhanced competitiveness of Bangladeshi apparel. Beyond RMG, several other key sectors showed promising trends. Leather and Leather Goods, Jute and Jute Goods, Home Textiles, Plastic and Plastic Goods, and Light Engineering all registered growth on both a year-on-year and month-on-month basis. However, performance remained mixed in other top sectors, such as Agro-Processed products and Frozen Fish.

In terms of market destinations, the United States retained its position as Bangladesh’s largest export market, with earnings totaling $5,216.34 million. Exports to the U.S. grew by 1.64 percent for the period and saw a 2.24 percent increase on a month-on-month basis. Germany and the United Kingdom followed as the second and third largest destinations, with earnings of $ 2,852.20 million and $2,779.52 million, respectively. Major European Union markets showed positive turnarounds, with Spain, the Netherlands, and Great Britain also recording growth across multiple timeframes, reaffirming Bangladesh’s strong trade ties with major global economies.

The remarks were made at the inauguration of the three-day 2nd Bangladesh Light Engineering Expo 2026, organised by the Bangladesh Engineering Industry Owners Association (BEIOA), which began in the capital today. The expo will run until February 4 and remain open daily from 11:00 am to 7:00 pm, showcasing the latest technologies, components, machinery, and innovative products from the country’s light engineering sector.

Speaking as the chief guest, Md Abdur Rahim Khan, additional secretary and project director of the Export Competitiveness for Jobs (EC4J) project, said that although development issues across various sectors had long been discussed and studied, the expected outcomes had not been fully realised. He observed that, globally, light engineering products play a critical role in shifting export structures, but Bangladesh has failed to capitalise on this opportunity over the past five decades. “Gradually, we moved from agriculture to manufacturing and became deeply involved in textiles and readymade garments. But, the next step — light engineering — has not seen the kind of transition it should have,” he said.

Khan noted that Bangladesh is scheduled to graduate from LDC status in November this year, after which duty-free access for Bangladeshi products will begin to phase out — starting in some countries as early as 2026 and in others from 2029. He added that while the country should ideally have built stronger capacities by now, time has not yet fully run out. “We still have adequate time. We must strengthen the capacity of institutions responsible for implementing government policies, while entrepreneurs need to further activate management efficiency, innovation, and research,” he said.

He further said that under the EC4J project, a technology centre was being established in Gazipur to support capacity building and encouraged industry players to make full use of its facilities. As a special guest, Hosna Ferdous Sumi, senior private sector specialist (finance, competitiveness, and investment) at the World Bank, said that under the EC4J project, the World Bank was providing a wide range of support to enhance the competitiveness of the light engineering sector. She highlighted that alongside export markets, the domestic market — valued at around $8 billion — also presents a significant opportunity for the sector.

“The biggest challenge we face, both in local and international markets, is product quality and whether products are truly serving their intended purpose,” she said. According to her, quality compliance, improving production efficiency, and reducing costs are major challenges. If these issues are addressed, light engineering products from Bangladesh would gain a strong competitive edge in international markets.

She also noted that global production and growth trends are changing rapidly, making it essential to adopt Internet of Things solutions, reduce rejection rates, shift to resource-efficient production, and use precision technologies. In his address as chair, Abdur Razzaque, president of BEIOA, said that the light engineering sector provides critical backward linkages to agriculture, textiles, construction, power, automobile, and household appliance industries. He said that Bangladesh currently has around 50,000 small and medium light engineering enterprises, employing nearly 300,000 skilled workers, with the sector contributing about 3 per cent to national GDP.

He also said that the sector meets nearly half of the country’s $8.2 billion domestic demand and produces around 3,800 types of machinery, spare parts, dies, and moulds. However, significant reliance on imported machinery and components still remains, indicating substantial scope for expansion. Globally, the engineering products market is estimated at around $7 trillion, yet Bangladesh’s share remains below 1 per cent. At present, exports from the light engineering sector stand at approximately $795 million. With appropriate policy support, technological advancement, and increased investment, exports could reach $12.56 billion by 2030, he said.

He also outlined key policy proposals, including the establishment of dedicated light engineering zones; support for technology transfer and research; reduced duties on raw material imports; simplified patent and design protection; training programmes for women and youth; cash incentives; and preferential access to bank financing. Razzaque added that proper implementation of the recently formulated Light Engineering Industry Development Policy, particularly its time-bound action plans, could significantly contribute to export diversification.

The inauguration ceremony was attended by BEIOA senior vice president Abdur Rashid, vice president Raju Ahmed, other central directors, representatives from the EC4J project, and representatives from the Ministry of Commerce.

Under the agreement, BRIC will be allotted five acres of land to set up a modern, export-oriented, and eco-friendly industrial unit. The facility is expected to begin commercial production within the next three years. The primary products will include paste, pulp, and puree; juice and beverages and spices. The project is designed to be environmentally friendly, requiring relatively low amounts of water, electricity, and gas. Furthermore, the company plans to source more than 50 percent of its raw materials locally, which will encourage the domestic agricultural market and strengthen the country's agro-based industrial sector. While catering to the internal market, BRIC intends to export 15 percent of its produced goods to international markets.

This new venture marks a strategic expansion for BRIC, which has been operating in Bangladesh for over three decades. BRIC is already the largest single investor in Renata Limited (pharmaceuticals) and holds significant investments in Direct Fresh Limited (food and commodity distribution) as well as the renewable energy sector. Speaking at the signing ceremony, Saleh Ahmed highlighted that the Jamalpur Economic Zone is evolving into a plug-and-play economic enclave.

This investment serves as a prime example of BEZA's commitment to green industrialization and expressed hope that it would inspire further domestic and foreign investment in the region, he noted. The Jamalpur Economic Zone is the first government-owned economic zone in the Mymensingh Division, spanning 436 acres. According to feasibility reports, the zone is ideal for agro-based industries, light engineering, and garments. Significant infrastructure developments have already been completed, including gas connection lines and a 33/11 KVA power substation; administrative and dormitory buildings and boundary walls and ground-water reservoirs.

To date, 18 institutions have signed lease agreements to set up industries in this zone, with construction currently underway for six industrial units and one skill development center. Once fully operational, the zone is expected to create direct employment for approximately 32,000 people, contributing significantly to the sustainable economic growth of the region.

In his speech, the Governor outlined a vision for Sonali Bank to function as a wholesale bank or a 360-degree bank, offering a comprehensive range of financial services. He noted that while the bank has made strides, its current commercial operations are only partial and must become fully profit-driven to ensure future sustainability.  He specifically tasked the bank with fulfilling all capital and professional requirements to secure its long-term success.

The governor highlighted that field-level officials are the primary stakeholders responsible for identifying correct customers to prevent loans from becoming non-performing. He urged a shift in focus toward productive sectors, including ultra-micro, small, and medium enterprises (SMEs), rather than solely focusing on large-scale borrowers,. Reflecting on recent financial challenges, the Governor praised Sonali Bank for its resilience during the global dollar crisis, noting that it had provided liquidity support to other banks when they were unable to secure funds elsewhere. 

To further strengthen the national economy, he directed the bank to enhance remittance inflows and improve export performance; expand the debit card business and digital service distribution and increase income through export-import commissions and diverse collection services. The Governor acknowledged that the government had previously imposed restrictions on lending due to recovery concerns. 

However, he advocated for a cautious yet brave approach to identifying new investment sectors to ensure that the bank's achievements are sustainable and not lost. In his closing remarks, the Governor called upon the bank’s leadership and staff to work with integrity and dedication. He expressed his hope that every employee would take pride in serving at such a prestigious institution, aiming to elevate Sonali Bank to a higher level by the end of their careers.

The canal, which handles about 40 percent of US container traffic and five percent of world trade, was built by the United States, which operated it for a century before ceding control to Panama in 1999. CK Hutchison's contract to operate the ports had "disproportionate bias" toward the Hong Kong-based company, according to the court ruling that annulled the deal. On Friday, the AMP said port operator APM Terminals, part of the Maersk Group, would be a "temporary administrator" of the Balboa and Cristobal ports on either end of the waterway.

It would take over from the Panama Ports Company (PPC) -- a subsidiary of CK Hutchison Holdings -- which has managed the ports since 1997 under a concession renewed in 2021 for 25 years. The United States on Friday welcomed the decision, but Chinese foreign ministry spokesman Guo Jiakun said Beijing "will take all measures necessary to firmly protect the legitimate and lawful rights and interests of Chinese companies." For its part, PPC said the ruling "lacks legal basis and endangers...the welfare and stability of thousands of Panamanian families" who depend on its operations.

The annulment of the PPC contract was requested last year by the office of the comptroller -- an autonomous body that examines how government money is spent. It argued the concession was "unconstitutional" and said Hutchison had failed to pay the Panamanian state $1.2 billion due. The PPC argues it is the only port operator in which the Panamanian state is a shareholder and says it has paid the government $59 million over the past three years.

"It is very hard to imagine that (the court ruling) was not influenced by persistent US pressure on canal ownership," said Kelvin Lam, a China-focused economist at the consultancy Pantheon Macroeconomics. He said foreign investors would likely be increasingly cautious about committing capital "to strategic infrastructure projects in the United States' backyard." Panama has always denied Chinese control over the 50-mile waterway, which connects the Atlantic and Pacific oceans and is used mainly by the United States and China.

Panamanian President Jose Raul Mulino, who has called the CK Hutchison contract "extortionate," said Friday the canal will continue operating "without disruption." He added there would be a transition period leading up to a new concession "under terms and conditions favorable to our country." Mulino did not specify when a new concession will be put on offer. APM Terminals said in a statement earlier Friday it was willing to operate the ports "to support operational continuity" and to mitigate any risks to essential services.

CK Hutchison Holdings -- founded by Hong Kong's richest man Li Ka-shing -- announced in March 2025 it would offload a 90 percent stake in PPC and sell a slew of other non-Chinese ports to a group led by US asset manager BlackRock. But the transaction fizzled out after China protested

The move has raised questions about the outlook for last year's US-EU trade deal, while French President Emmanuel Macron has called for the deployment of a powerful, unused instrument aimed at deterring economic coercion. In response, US Treasury chief Scott Bessent said Monday that any retaliatory EU tariffs would be "unwise". The prospect of another trade standoff between two of the world's biggest economic powers has fuelled a rush to safety and dealt a blow to risk assets.

After hefty selling in Europe, Asia equities extended losses. Tokyo, Hong Kong, Shanghai, Sydney, Seoul, Singapore, Taipei, Manila and Wellington were all down. Silver hit another record high, touching $94.73 in Asian trade, while gold held just shy of its own peak hit Monday. Meanwhile, Treasury yields rose amid a move out of US assets fuelled by the uncertainty sparked by Trump's latest volley. Japanese government bonds yields also rise, with that on the 40-year note hitting the highest since it was launched in 2007, after Prime Minister Sanae Takaichi called snap elections Monday and pledged to cut a tax on food for a two-year period.

The announcement fuelled fresh worries the government will borrow more cash at a time when questions are already be asked about the country's finances. Her cabinet approved a record 122.3-trillion-yen ($768 billion) budget for the fiscal year from April 2026, and she has vowed to get parliamentary approval as soon as possible to address rising prices and shore up the world's fourth-largest economy. Eyes are now on Davos, Switzerland, where the US president is expected to give a speech to the World Economic Forum.

"Davos now becomes the theatre that matters. Not for soundbites, but for whether the adults step back into the room," wrote Stephen Innes of SPI Asset Management. "If this turns sour, volatility will not stay bottled. What would normally be a Ukraine-focused week risks being hijacked by a far more destabilising question, namely, whether the transatlantic alliance is being stress-tested in public. "A NATO fracture, even a rhetorical one, is not something markets are trained to shrug off."

- Key figures at around 0230 GMT -

Tokyo - Nikkei 225: DOWN 1.2 percent at 52,931.11 (break)

Hong Kong - Hang Seng Index: DOWN 0.6 percent at 26,401.75

Shanghai - Composite: DOWN 0.7 percent at 4,087.43

Euro/dollar: DOWN at $1.1639 from $1.1641 on Monday

Pound/dollar: DOWN at $1.3417 from $1.3428

Dollar/yen: UP at 158.15 yen from 158.09 yen

Euro/pound: UP at 86.76 pence from 86.71 pence

West Texas Intermediate: UP 0.4 percent at $59.69 per barrel

Brent North Sea Crude: UP 0.1 percent at $64.01 per barrel

New York - Dow: Closed for a holiday

London - FTSE 100: DOWN 0.4 percent at 10,195.35 (close)

"The current economy faces the problem of strong supply but weak demand," said Wang Changlin, Vice Chairman of the National Development and Reform Commission (NDRC), the country's top body for economic planning. Wang said that the NDRC will "study and formulate an implementation plan for expanding domestic demand from 2026 to 2030", vowing to "create new demand through new supply and provide strong innovative measures".

A protracted debt crisis in China's vast real-estate sector has discouraged would-be homebuyers from investing in property -- long a key store of wealth. Complicating the challenges are demographic trends, with a shrinking and ageing population weakening the outlook for a future spending boom. Recent figures have highlighted the hurdles facing policymakers in their bid to spur spending. Retail sales grew just 0.9 percent year-on-year in December, official data showed Monday. That marked the weakest pace since the end of 2022, when the country's stringent zero-Covid measures were scrapped.

Tuesday's figures also updated the situation regarding wages. ONS director of economic statistics, Liz McKeown, noted that during the reporting period, "wage growth in the private sector has slowed to its lowest rate in five years, while public sector wage growth remains elevated". A more recent picture on UK inflation arrives Wednesday with official data for December. Along with the unemployment figures and some recent positivity on the economic growth front, the consumer prices inflation (CPI) numbers will be used by the Bank of England to determine its next moves on interest rates.

The unemployment data "suggests that the next policy meeting in February may be too soon for another interest rate cut", noted Ashley Webb, UK economist at Capital Economics research group. But if December's CPI inflation figures turned out much weaker than the Bank expects, "it's possible the door for a February rate is pushed ajar", he said.

The Finance Division noted that delegation of financial powers was first introduced through operating budget-related orders in 1983 and 1985. Subsequently, broader financial powers were delegated in 1994, followed by revised orders in 2000 and 2004. The most recent comprehensive order before the current one was issued in 2015, covering both development and non-development expenditures.

Since then, significant changes have occurred in government operations, procurement practices and budget execution. Moreover, amendments to the Public Procurement Act, 2006 and the formulation of the Public Procurement Rules, 2025 have made it necessary to further update and harmonise the delegation of financial powers.

The new order incorporates institutional levels in line with the New Budget and Accounting Classification System (BACS). Four institutional levels and relevant economic codes have been clearly specified in Columns 3 to 8 of the Financial Power Delegation and Re-delegation Model 2026, ensuring consistency across ministries, attached departments and subordinate offices. Under the revised framework, the Senior Secretary, Secretary or Acting Secretary of each ministry or division will act as the Principal Accounting Officer. They will be responsible for ensuring that expenditures are incurred strictly for approved purposes, relevant financial rules are followed, budgetary limits are respected and no expenditure is made in anticipation of supplementary grants without prior approval.

The order further emphasised accurate budget classification, monthly reconciliation of expenditure with accounts provided by the Chief Accounts Officer, and prompt settlement of audit objections. Ministries are also authorised to re-delegate financial powers to attached departments and subordinate offices within reasonable limits, following a uniform model to maintain consistency across government offices. It has been clarified that officials who have already been granted special financial powers through separate government orders will continue to exercise those powers. However, if the revised delegation provides higher limits for any item, the higher authority stipulated in the new order will prevail.

All sanctions issued under the delegated authority must be sent to the concerned Chief Accounts Officer, clearly stating that the sanction has been issued under the powers delegated through this order that adequate budget provision exists in the approved budget. In cases requiring Finance Division concurrence, sanctions must be endorsed by the relevant wing of the Finance Division before being forwarded. The Finance Division stated that the order will take immediate effect from the date of issuance and remain in force until further notice.

Finance and Science and Technology Adviser Dr. Salehuddin Ahmed will chair the meeting to be held at the Cabinet Division Conference Room of Bangladesh Secretariat. According to Cabinet Division officials, the committee will review a proposal from the Ministry of Commerce to procure 2,71,50,000 litres of refined soybean oil from the international market through the Direct Procurement Method (DPM), aiming to ensure adequate domestic supply and stabilize the edible oil market ahead of the Holy Month of Ramadan.

The meeting will also discuss a proposal from the Ministry of Industries to import 30,000 metric tons of bagged granular urea fertilizer from Karnaphuli Fertilizer Company Limited (KAFCO) under the 11th lot for the current fiscal year 2025-26, to meet demand for such key agricultural input.

In addition to these key import proposals, the committee is expected to consider several other agenda items, including construction of fertilizer buffer warehouse in Faridpur and Gaibandha, procurement of vessels and high-speed boats for the Bangladesh Coast Guard, variation proposals for inland and coastal vessels under BIWTC projects, and multiple road safety and road connectivity projects across different regions of the country.

The meeting is also likely to consider a procurement proposal for hiring a UN agency for the FDMN (Forcibly Displaced Myanmar Nationals) part under the project titled “ISO Component-01: Pre-Primary and Primary Education Improvement Project in Cox’s Bazar and Bandarban Districts, and Bhasanchar of Noakhali” (Package No SD-08) in line with the grant agreement between the World Bank’s International Development Association (IDA) and the government of Bangladesh.

The meeting is likely to consider a procurement proposal for construction of one fertilizer godown at Faridpur (10,000 MT capacity) under Package-2, Lot-3 of the project titled “Construction of 34 Buffer Warehouses at Different Locations Across the Country for Fertilizer Storage and Distribution (1st Revised)” as well as another procurement proposal for construction of one fertilizer godown at Gaibandha (10,000 MT capacity) under Package-4, Lot-4 of the same project.

Apart from these, procurement proposal for construction of five Riverine Patrol Vessels (RPV) under Package WD-1 of the project titled “Procurement of Replacement Vessels to Enhance the Capability of Bangladesh Coast Guard (1st Revised)”, procurement proposal for purchase of two large high-speed boats for Bangladesh Coast Guard under the revenue budget are also likely to be considered in the tomorrow’s purchase committee meeting.

In addition, a procurement proposal for consultancy services covering road infrastructure assessment, design, supervision, environmental and social management, and land acquisition services under Package No. SP (RHD)-02m of the “Bangladesh Road Safety” project is likely to be discussed.

In his address, the chief guest AHM Ahsan said that the primary objective of the Competition Act is not to punish anyone, but rather to prevent anti-competitive practices in the market and to maintain a balanced and healthy business environment. At the beginning of the meeting, Assistant Director of the Competition Commission Nuruddin Jobayer delivered a detailed presentation highlighting the objectives of the Competition Act, 2012, and the roles and responsibilities of the Bangladesh Competition Commission.

During the open discussion session, business leaders emphasised the need to enhance awareness of the Competition Act among grassroots-level business communities, particularly at the district level. They noted that compliance becomes difficult without a clear understanding of the law. The business representatives also strongly urged for the direct involvement of FBCCI and private sector stakeholders in the formulation and amendment of rules under the Act, as well as in the hearing processes of the Commission.

Among others, members of the Bangladesh Competition Commission Dr. Md. Akhtaruzzaman Talukder and Dr. Afroza Bilkis were present at the meeting. FBCCI Secretary General Md. Alamgir, former FBCCI directors, leaders of various chambers and associations, and representatives from the Ministry of Commerce, the Directorate of National Consumer Rights Protection, and the Consumers Association of Bangladesh (CAB) also attended the event.

The inauguration ceremony was also attended by the Honourable Advisor , Investor, Land Owners, Clients, Managing Director, Directors, COO, and all officials of Fortress. The expo is organized to bring modern housing and profitable investment opportunities under one roof. This provides a golden opportunity to find sky villas, penthouses, apartments, or commercial spaces in prime Dhaka locations. The expo will run until January 31. 

During the expo, special emphasis will be placed on the quality construction, contemporary design, and long-term investment potential of Fortress's projects. Fortress Founder Chairman Lutfar Rahman Opu stated, "We ensure aesthetically pleasing designs and internationally standard earthquake-resistant housing with a team of the best local and foreign engineers. All our projects are handed over to clients within the stipulated time. We have many ongoing projects in Jolshiri Abashon, Bashundhara, and Uttara.

It was announced at the event that customers have the opportunity to choose their preferred flat or office space from over 80 ongoing projects spanning more than 21 lakh square feet. The expo is open to the general public every day from 10 am to 8 pm.

Sector-specific tariffs on Taiwanese auto parts, timber, lumber and wood products will also be capped at 15 percent, while generic pharmaceuticals and certain natural resources will face no "reciprocal" duties, the Commerce Department added. Meanwhile, Taiwanese chip and tech businesses are set to make "new, direct investments totaling at least $250 billion" in the United States to build and expand capacity in areas like advanced semiconductors and artificial intelligence. Taiwan will also provide "credit guarantees of at least $250 billion to facilitate additional investment by Taiwanese enterprises," to support the growth of the US semiconductor supply chain, the department said.

Taiwan's government said the new tariff will not stack on top of existing duties, which had been a major concern for local industries. The department's announcement did not mention names, but the deal has key implications for Taiwanese chipmaking titan TSMC, the world's biggest contract maker of microchips used in everything from Apple phones to Nvidia's cutting-edge AI hardware. In an interview with CNBC, Commerce Secretary Howard Lutnick said TSMC has bought land and could expand in Arizona as part of the deal.

"They just bought hundreds of acres adjacent to their property. Now I'm going to let them go through it with their board and give them time," he said. Taiwanese producers who invest in the United States will also be treated more favorably when it comes to future semiconductor duties, the Commerce Department said. Firms building new US chip capacity may import up to 2.5 times their planned capacity without paying sector-specific duties during construction. The quota lowers to 1.5 times once projects are completed.

A day prior, US officials held off imposing wider chip tariffs, instead announcing a 25 percent duty on certain semiconductors meant to be shipped abroad -- a key step in allowing Nvidia to sell advanced AI chips to China. Ryan Majerus, a former US trade official, told AFP that although chip tariffs are currently narrowly targeted, Washington "signaled there is certainly potential for it to grow." Majerus, now a partner at law firm King & Spalding, added that the deal had parallels to those with other US partners. The European Union and Japan, for example, both also secured a 15-percent tariff rate.

"The objective is to bring 40 percent of Taiwan's entire supply chain and production, to domestically bring it into America," Lutnick told CNBC. "We're going to bring it all over, so we become self-sufficient in the capacity of building semiconductors," he added. The agreement comes after months of negotiations. Taiwanese President Lai Ching-te had pledged to boost investments in the United States and increase defense spending as his government tried to lower US duties, and avoid a toll on its semiconductor chip exports. Taiwan is a powerhouse in the manufacturing of semiconductor chips, which are the lifeblood of the global economy, as well as other electronics.

But US President Donald Trump previously accused Taiwan of stealing the US chip industry, and his administration had made clear it wants more of the critical technology made on American soil. Taiwan's trade surplus in goods with the United States was around $74 billion in 2024. More than half of its exports to the United States are information and communications technology products -- including semiconductors.

Trump added that he had been told that the killings of protesters there had stopped. Crude prices had surged over recent days as Trump talked about coming to the aid of the Iranian people over the crackdown on demonstrations, sparking concerns over possible disruption to global supplies. "As tensions are dialed down between Iran and the US, the political risk premium is rapidly getting priced out of the oil price," said XTB research director Kathleen Brooks.

In stock market trading, a forecast-busting fourth-quarter net profit by Taiwanese chipmaking titan TSMC helped turn around investor sentiment. The tech-rich Nasdaq piled on more than one percent early in the session behind large gains among leading chip companies. But later in the day there was "kind of a roll-back in the megacap stock and semiconductors," said Briefing.com analyst Patrick O'Hare. The weakening of US equities followed remarks from US Commerce Secretary Howard Lutnick indicating that semiconductor companies that don't build in the United States could face 100 percent tariffs.

All three US indices finished moderately higher, with the broad-based S&P 500 up 0.3 percent. Investment banks Morgan Stanley and Goldman Sachs surged 5.8 percent and 4.6 percent after reporting strong profits on surging revenues tied to mergers and acquisitions. In European trading, London's top-tier FTSE 100 index hit a fresh record high after official data showed that Britain's economy rebounded in November.

Frankfurt rose as traders reacted to news that Germany's economy eked out meager growth in 2025, dodging a third straight year of recession. The Paris stock market fell slightly, dragged down in part by a drop in the share price of TotalEnergies in the wake of oil's retreat. In Asia, Tokyo closed down 0.4 percent, cooling off after gains fueled by speculation that Prime Minister Sanae Takaichi would call an election to capitalize on strong public approval ratings.

Silver prices, which have surged to records in recent weeks, moved 0.3 percent lower after tumbling more than seven percent at one point. Gold prices also retreated modestly.

- Key figures at around 2115 GMT -

Brent North Sea Crude: DOWN 4.2 percent at $63.76 per barrel

West Texas Intermediate: DOWN 4.6 percent at $59.19 per barrel

New York - Dow: UP 0.6 percent at 49,442.44 (close)

New York - S&P 500: UP 0.3 percent at 6,944.47 (close)

New York - Nasdaq Composite: UP 0.3 percent at 23,530.02 (close)

London - FTSE 100: UP 0.5 percent at 10,238.94 (close)

Paris - CAC 40: DOWN 0.2 percent at 8,313.12 (close)

Frankfurt - DAX: UP 0.3 percent at 25,352.39 (close)

Tokyo - Nikkei 225: DOWN 0.4 percent at 54,110.50 (close)

Hong Kong - Hang Seng Index: DOWN 0.3 percent at 26,923.62 (close)

Shanghai - Composite: DOWN 0.3 percent at 4,112.60 (close)

Euro/dollar: DOWN at $1.1605 from $1.1644 on Wednesday

Pound/dollar: DOWN at $1.3377 from $1.3443

Dollar/yen: UP at 158.63 yen from 158.46 yen

Euro/pound: UP at 86.75 pence from 86.61 pence

Economists estimated a median figure of 4.9 percent, in what would be the weakest growth since 1990 when China was under Western sanctions after the deadly Tiananmen Square crackdown. The announcement will be "close enough for officials to declare victory" in meeting the roughly five-percent number, a "political comfort blanket" for Beijing, said Sarah Tan of Moody's Analytics. But the composition of Chinese growth was "deeply uneven" and official figures "mask the weak sentiment on the ground", she said.

Analysts agreed the main problem was China's property sector, which has failed to overcome a persistent debt crisis despite rate cuts and loosened restrictions on homebuying. House prices have risen slightly in some large cities but the broader market remains sluggish. "We see no sign of a near-term property sector bottoming out," analysts from Goldman Sachs said.

Without bolder measures like converting housing stock into affordable homes, the industry will remain unstable, analysts warned. Investments in property and infrastructure likely took a hit last year. Official figures already show that fixed-asset investment slowed 2.6 percent between January and November, its sharpest rate since 2020. Larry Hu and Yuxiao Zhang of Macquarie Group attributed the decline to unannounced "data revisions" by Beijing, adding they did not expect policymakers to respond.

Property investment could fall by 12 percent in 2026, they predicted. Tianchen Xu of the Economist Intelligence Unit (EIU) also forecast a real-estate "correction" in 2026, adding: "This will remain a drag on growth." Meanwhile, constraints on local government finances pushed a wider slowdown in manufacturing and infrastructure investment last year, Goldman Sachs analysts said. China's outbound foreign direct investment continued to outpace inbound flows in recent quarters, they noted.

Domestic spending is also cause for concern. Retail sales, a key indicator of consumption, grew at their slowest pace in nearly three years in November. Economists have long urged Beijing to move towards a growth model powered by consumption rather than exports and manufacturing. Excess supply remains an issue in manufacturing despite a government campaign last year to combat overcapacity and price cutting. China aims to become a global powerhouse in advanced manufacturing, but that promises little for domestic spending, according to Goldman Sachs analysts.

"High-end manufacturing and frontier technology will not generate many jobs or lead to significantly higher incomes for average households, making only a limited contribution to private consumption," they said. Chinese consumers remain jittery about the wider economy and high unemployment, even though officials have relaxed fiscal policy and subsidised the replacement of household items in a sputtering bid to boost spending. "That anxiety is shaping how households spend," Tan said, noting that while domestic tourism rebounded to pre-pandemic levels last year, the average outlay per traveller was lower.

Robust exports have been a bright spot in the cloudy economic picture despite a bruising trade war with the United States that saw Trump slap steep tariffs on Chinese products. Official data showed Chinese exports to the United States plunged by 20 percent in 2025, but that had little impact on demand for Chinese products elsewhere. China's trade surplus hit a record $1.2 trillion last year, with officials lauding a "new historical high" filled by other trade partners.

"The trade war 2.0 didn't impact China much, leading Beijing to refrain from implementing major stimulus measures," said Hu and Zhang of Macquarie. Tan agreed that "exports are propping up the economy while consumers and property developers hang back". But whether they continue to drive the economy in 2026 remains to be seen. Economists expect Beijing to reveal new stimulus measures -- potentially at its annual parliamentary session in March -- to address core challenges.

"We think there will be a turnaround this year driven by policy support from fiscal and new financing policy tools," said Erin Xin at HSBC. Xu, of the EIU, predicated that fiscal policy would be "expansionary by historical standards" for China to reach its growth target. Macquarie analysts, however, were more conservative, saying "the size of the stimulus package will largely depend on the magnitude of the export slowdown".

The MoU was signed on behalf of Bangladesh by Mr. Ashik Chowdhury, CEO, PPP Authority, while H.E. Mr. Joris van Bommel, Ambassador of the Kingdom of the Netherlands to Bangladesh, signed on behalf of the Netherlands. 

Speaking at the ceremony, PPP CEO Ashik Chowdhury emphasized that PPP has become the most viable and strategic option for developing new infrastructure in Bangladesh. He noted that the MoU will pave the way for enhanced knowledge exchange, technical cooperation and investment facilitation, benefiting both countries and supporting Bangladesh’s long-term infrastructure and economic development goals.

H.E. Ambassador Joris van Bommel highlighted the Netherlands’ strong interest in partnering with Bangladesh through structured PPP frameworks, sharing global best practices and expertise to deliver sustainable and high-impact infrastructure projects. The MoU marks a significant step forward in deepening bilateral cooperation and reinforcing PPP as a key engine for inclusive growth and development in Bangladesh.

"Germany's export business faced strong headwinds owing to higher US tariffs, the appreciation of the euro and increased competition from China," Brand said. Investment also remained weak last year, and fell in the construction and machinery manufacturing industries, according to the provisional data released by Destatis. For the final quarter of 2025, the agency estimated that the economy grew 0.2 percent from the third quarter.

Battered by an energy shock triggered by the Ukraine war, a manufacturing slump, US tariffs and weakening demand in the key Chinese market, the world's third-biggest economy shrank in both 2023 and 2024. A return to growth could offer some relief to Chancellor Friedrich Merz, who took power last May vowing to revive the economy but has faced mounting criticism that efforts are moving too slowly.

At the meeting, all 18 demands raised by the workers were reviewed with due importance and resolved unanimously. The most important demand was to increase in workers’ wages. In this context, the owners’ side decided to increase wages by 26 percent over the existing customary wage rate for the normal eight-hour working day. In addition, special consideration was given to the issue of workers’ transportation from their residences to the workplace. 

It was decided that the time from departure before the scheduled duty hours from Kiyara Launch Ghat to reaching the workplace, as well as the time until safely returning home after duty, would be counted as working hours. At the same time, it was unanimously decided that the owners’ side would ensure quick and safe transportation of workers to Kiyara after completion of duty. The remaining 16 demands will be resolved gradually through mutual understanding and consensus.

 Dr Khondaker Golam Moazzem, Research Director of CPD; Md Mehadi Hasan Shamim, Research Associate; Abrar Ahammed Bhuiyan, Research Associate; Atikuzzaman Shazeed, Research Associate; Sabiha Sharmin, Research Associate; Maleehah Sabah Ali, Programme Associate; and Md. Khalid Mahmud, Programme Associate; among others, were present on the occasion.  Helen Mashiyat Preoty, senior research associate, delivered the presentation at the briefing.  

In her presentation, Helen Mashiyat Preoty said that the zone wise power demand and supply should be planned according to the upcoming RE power plants and National Solar Rooftop Programme. “As there are already plans to intergrade more than 5000 MW of RE from utility scale and more than 3000 MW from national rooftop programme, the location wise planning and estimation must be done by the zonal mapping,” she added. She also urged the government to give more focus on the areas where solar and wind electricity potential is higher in the country.

She said that allowing carbon credit without any extensive scrutiny might backfire energy transition and normalising carbon credit at this stage can unintentionally legitimize emission. “Hence a detailed review and scrutiny before establishing a framework might be needed,” she added. She noted that a monitoring and evaluation framework is needed to measure the implementation progress of the EPSMP in achieving energy transition. She recommended institutional reform of the Power Grid Company of Bangladesh (PGCB) to ensure independent and efficient system planning.

She laid emphasis on allocating a big chunk of investment specifically for RE expansion and domestic gas exploration (onshore and offshore) instead of LNG. Mashiyat Preoty also focused on unbundling the roles of the Bangladesh Power Development Board (BPDB) and strengthening the autonomy and enforcement powers of the BERC and SREDA.

The meeting featured extensive discussions on a wide range of issues aimed at enhancing bilateral trade and economic cooperation. Key areas of discussion included the promotion of bilateral trade through a Preferential Trade Agreement (PTA), simplification of visa procedures, reduction of tariff, para-tariff and non-tariff barriers, expansion of market access for goods, facilitation of payment systems, development of port infrastructure, expansion of rail connectivity, simplification of customs procedures, and effective implementation of transit facilities. 

The meeting also covered issues related to tourism development and expansion of air connectivity, investment opportunities, exchange of experiences for sustainable development in the post-LDC graduation period, and the prospects of strengthening trilateral cooperation among Bangladesh, Nepal and India. Detailed discussions were also held on finalising the Preferential Trade Agreement (PTA) between the two countries. Both the sides emphasised the importance of expediting the finalisation of the PTA draft text, Rules of Origin, and product lists (Request List and Offer List). 

The Bangladesh side proposed implementing the PTA initially with a limited number of products, with gradual expansion in later phases. To this end, it was decided to convene a meeting of the Trade Negotiating Committee (TNC) within the next three months to finalise the PTA draft text, Rules of Origin and product lists. The two sides also agreed to strengthen cooperation between relevant agencies of both the countries in implementing existing Memorandums of Understanding (MoUs), as well as in addressing issues related to Sanitary and Phytosanitary Measures (SPS) and Technical Barriers to Trade (TBT).

Both countries agreed to facilitate business visas, visas for professionals and their families, and tourist visas to enhance mutual travel and boost trade, investment and tourism. They committed to taking coordinated initiatives to further simplify visa procedures. The meeting also reached consensus on expanding market access for products, simplifying payment systems, and strengthening reliable transaction mechanisms. Emphasis was placed on addressing non-tariff barriers, simplifying product testing and certification procedures, and undertaking joint promotional initiatives for potential products to expand bilateral trade.

Discussions were held on promoting bilateral trade through government-to-government (G2G) and business-to-business (B2B) initiatives, including trade fairs, exhibitions and exchange of business delegations. Both the sides agreed to organise regular trade fairs, exchange market-related information, enhance capacity building, and strengthen cooperation at the Micro, Small and Medium Enterprises (MSME) level. It was also decided that the 9th Commerce Secretary-level meeting will be held in Nepal at a mutually convenient time.

The nation will be represented by a total of 38 exhibitors, a move that reflects its expanding export potential and established strengths in multiple living goods sectors. The fair provides extensive exposure across various categories, including Global Sourcing, Dining, Living, Giving, and Beauty and Bath, as well as specialized sectors like office supplies and decorations. 

A total of 32 Bangladeshi companies will participate as direct exhibitors, including Dhaka Handicrafts, Oporajeo, RFL Plastics, Prokritee, BD Creation, ASK Handicrafts, Akij Ceramics, CORR – The Jute Works, Protik Ceramics Ltd, San Trade, Thanapara Swallows Development Society, Hajiganj Handicrafts Ltd, Mony Jute Goods & Handicrafts, Peoples Ceramic Industries / Standard Ceramic Industries, Artisan House BD, Julhash Handicrafts, Saidpur Enterprises, Paragon Ceramic Industries, Hand Touch, Conexpo, Golden Jute Product, Global Golden Jute & Crafts, Artisan Ceramics, Earth Bound, ASIX BD, Creation, Crafts Villages, Ava Clay Tiles Bangladesh, Parijat Trading, Shinepukur Ceramics, and AUS Bangla Jutex.

In addition, 05 Participation through the Export Promotion Bureau (EPB) includes Eco Crave, Sonali Aansh Industries, Jute Crafts, Maaf Craft BD, and Tarango, representing Bangladesh’s artisan, sustainable, and craft-based manufacturing sectors.  Ambiente Frankfurt remains a strategic platform for Bangladeshi exporters to strengthen engagement with European and global markets, enhance brand visibility, promote sustainable and artisan-made products, and align with emerging global consumer and trade trends.

Out of the issues traded, 140 companies saw their prices increase, while 175 companies closed lower. The share prices of 78 companies remained unchanged. In terms of monetary value, the top 10 turnover leaders were spearheaded by Orion Infusion, City Bank, Dominage Steel, Square Pharma, and Fine Foods. Other major contributors to the turnover included Crystal Ins, Chartered Life Ins, Khan Brothers PP, Taufika Food, and Saiham Cotton. The list of top gainers was led by Chartered Life Ins, Crystal Ins, and Mozaffar Hossain Spinning. These were followed by Central Ins, Pubali Bank, Green Delta Mutual Fund, and Islami Bank.

The top losers of the day were primarily from the financial sector, including Premier Leasing, Prime Finance, Fareast Finance, and International Leasing. Other notable decliners included ICB AMCL Second Mutual Fund, FAS Finance, and Apollo Ispat. The port city bourse, CSE, also settled on a negative zone. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) decreased by 10.26 points and 20.38 points, respectively.

The central bank has directed all Authorized Dealers and Licensed Money Changers to take note of the new structure, which is scheduled to come into effect on January 15, 2026. The circular, signed by Director Monoar Uddin Ahmed, clarified that while the fee amount has changed, all other instructions regarding the renewal process will remain unchanged.

Despite existing central bank directives to facilitate credit for women, entrepreneurs mentioned that significant hurdles at the field level. Participants noted that commercial bank managers at the district and upazila levels often create obstacles by demanding unnecessary documentation, effectively bypassing central bank instructions. Nasreen Fatema Awal, President of the Women Entrepreneur Association of Bangladesh (WEAB), emphasized that the proper implementation of existing policies is crucial, alongside a focus on low-interest rates, specialized training, and workshops.

Ferdaus Ara Begum, CEO of Business Initiative Leading Development (BUILD), pointed out that while the government has introduced many women-friendly policies, many emerging entrepreneurs in rural areas remain unaware of them. She urged entrepreneurs to become compliant to take advantage of these government facilities. To address structural challenges, FBCCI Administrator Md. Abdur Rahim Khan announced that the government has taken steps to establish women’s chambers in every district.

 He highlighted that increasing women's participation in economic activities is essential for the country’s overall economic growth. Tanvir Ahmed, Senior Advisor of the She-Trades Initiative, highlighted the need to eliminate gender discrimination in trade and increase connectivity with experienced international entrepreneurs.

Entrepreneurs demanded the introduction of English versions of trade licenses and special discounts for women at fairs organized by the Export Promotion Bureau (EPB). Sultana Yasmin, Joint Secretary of the Ministry of Industries, assured the participants that their recommendations would be presented to the appropriate authorities.  The meeting also saw participation from representatives of Bangladesh Bank, UNDP Bangladesh, and the SME Foundation, all of whom discussed various initiatives to empower women in the business sector.

The notification specified that the appointment is grounded in Section 24(1)(gh) of the Money Laundering Prevention Act, 2012 (amended in 2015) and Rule 22 of the Money Laundering Prevention Rules, 2019. As a condition of this high-profile role, Mamun is required to sever all existing work-related ties and relationships with other institutions and organizations. The terms and conditions of this contractual service will be finalized through an approved agreement. The order has been issued in the public interest and is set to take effect immediately. Earlier, Shahinul Islam served as the head of the BFIU, but the government cancelled his appointment in September last year after a controversial video spread on social media.

The BFIU works as the country's main financial intelligence agency, monitoring suspicious transactions by banks and financial institutions and helping prevent money laundering.

The notification specified that the appointment is grounded in Section 24(1)(gh) of the Money Laundering Prevention Act, 2012 (amended in 2015) and Rule 22 of the Money Laundering Prevention Rules, 2019. As a condition of this high-profile role, Mamun is required to sever all existing work-related ties and relationships with other institutions and organizations. The terms and conditions of this contractual service will be finalized through an approved agreement. The order has been issued in the public interest and is set to take effect immediately. Earlier, Shahinul Islam served as the head of the BFIU, but the government cancelled his appointment in September last year after a controversial video spread on social media.

The BFIU works as the country's main financial intelligence agency, monitoring suspicious transactions by banks and financial institutions and helping prevent money laundering.

He said some US$3,877.74 million was required to import 350,766,440 MMBtu (Million British Thermal Units). “The LNG import appeared essential since the gas availability from domestic sources appeared inadequate,” an official of state-run Rupantaroto Prakritik Gas Company Ltd (RPGCL) said. Bangladesh, however, started importing LNG in 2018, with the first consignment coming from Qatar under a long-term agreement. “We import LNG regularly under long-term, short-term agreements as well as spot markets to meet the growing energy demand in the country,” Petrobangla director AKM Mizanur Rahman said.

He said the last year’s imported LNG also came under long-term, short term agreements and spot market procurement process. The Planning Commission officials, meanwhile, said government initially planned to import 115 LNG cargoes in 2025-2026 fiscal under long-term contracts and spot procurements.
RPGCL officials said each LNG-filled cargo contain nearly 33.60 lakh MMBTu gas while under long-term contracts the price stands at $9.5 per MMBTu. RPGCL is responsible for LNG conversion and supply.

Patrobangla’s deputy general manager and spokesman Tariqul Islam Khan said Bangladesh received LNG cargos every month to meet energy demand in the country. He said the country’s 24-hour gas production from at am on January 5, 2026 to 8 am next day including LNG was 2594.7 mmcfd against the demand for 3,800 mmcfd. Petrobangla officials said against the backdrop of declining domestic gas extraction, the projected per day demand is to reach 6,240 million cubic feet by 2030. QatarEnergy received around $1,204.49 million and supplied 40 cargos of LNG having 127,391,359 MMBTu, while Oman's OQ Trading (OQT) got around $44.45 million for 16 cargos of LNG with 51,014,884 MMBTu under long term deal in 2025.

The officials said OQT also supplied five cargos of LNG with 15,995,972 MMBTu under short term deal, while the government procured 48 cargos of LNG having 156,364,225 MMBTu from spot markets. They said the government procures LNG from spot market through various energy supplying companies including petroChina International, TotalEnergies Gas and Power, M/S Posco International Corporation. The planning commission officials said Bangladesh also signed a deal with US-based Excelerate Energy for LNNG import.

They said when the Russia-Ukraine war broke out in 2022, the average LNG price rose to $18.43 per MMBTu while it dropped to $12.84 in 2024 and $13.52 per MMBTu in June last year and $11.02 in November, 2025. Gas demand is projected to reach 6,240 million cubic feet per day (mmcfd) by 2030, according to the Integrated Energy and Power Master Plan 2023, which maps out the energy sector through to 2050. By the end of 2023, domestic gas production stood at about 2.08 billion cubic feet per day from all fields, including those operated by international oil companies while the volume is lower than the 2012 average of around 2.20 billion cubic feet per day.

Cumulatively, total net FDI inflows for January–September 2025 stood at $1.41 billion, marking an 80 percent increase compared to $780 million during the corresponding period of 2024. All major FDI components saw significant improvement in Q3’25. Equity investment rose 31.69 percent YoY, from $76.79 million to $101.12 million; reinvested earnings soared 190.07 percent YoY, from $72.90 million to $211.47 million and intra-company loans reversed from a negative -$45.36 million to a positive $2.49 million.

This growth builds on a strong H1 performance. In April–June 2025, net FDI had already reached $303.27 million, compared to $272.22 million in Q2 of the previous year—representing a year-on-year gain of 11.4%. Overall, net FDI in H1’25 (January–June) increased by more than 61% compared to H1’24. “BIDA’s core work is to improve the business climate and develop a credible pipeline of investment. It is encouraging to see this pipeline begin to convert into realized inflows. The benchmark remains low, but these back-to-back quarterly gains highlight that investors are placing their trust in Bangladesh,” said Ashik Chowdhury, Executive Chairman of BIDA. 

“We expect some moderation in Q4’25 due to the upcoming elections, but anticipate a rebound post-election, supported by a strong investment pipeline,” he added. Beyond the actualized figures, BIDA’s dedicated investment pipeline for 2025 has already surpassed $1.5 billion in addition to the traditional registered proposals.

At the inaugural event, tax payments were made on a pilot basis using bKash Limited’s online merchant wallet service. An amount of BDT 130 million was paid as withholding tax, while BDT 640 million was paid as VAT, marking a significant milestone in the country’s digital tax system.

Speaking at the event, Secretary of the Internal Resources Division and Chairman of the National Board of Revenue, Md. Abdur Rahman Khan, said that the introduction of large-value tax payments through MFS would significantly simplify and speed up tax payments for corporate taxpayers. He added that the initiative would play an important role in modernizing and updating the country’s tax collection system.

He further noted that many corporate entities are already using MFS platforms to pay employee salaries. With this new system, they will now be able to pay withholding tax, VAT, and other taxes through the same digital platform. He also expressed optimism that other MFS providers would introduce similar services in the near future.

According to NBR officials, withholding tax can now be paid through the eTDS system, while VAT payments are being processed through the Finance Division’s e-Challan system under this new service. The digital initiative is expected to enhance transparency, reduce transaction time and costs, and encourage taxpayers to make large-value tax payments more efficiently.

The National Board of Revenue stated that the government will continue its efforts to modernize revenue administration, expand digital transactions, and strengthen cashless government financial services.

While successive governments in the country of 6.4 million people have advocated joining the euro currency over hopes it will boost the economy of the EU's poorest member, reinforce ties to the West and protect against Russia's influence, some have been opposed to the switch. Bulgaria, which joined the EU in 2007, faces unique challenges, including anti-corruption protests that recently swept a conservative-led government from office, leaving the country on the verge of its eighth election in five years.

Outgoing Prime Minister Rossen Jeliazkov said on Tuesday that he nonetheless felt his cabinet had accomplished a milestone. "Bulgaria is ending the year with a gross domestic product of 113 billion euros (nearly $133 billion) and economic growth of more than three percent, which places us among the top five countries in the EU," he said before a government meeting.

He added that inflation in the Black Sea country, which hovers around 3.6 percent, was "linked to increased purchasing power" and a less corrupt economy, and not in any way to the introduction of the euro. Some Bulgarians worry the introduction of the euro could lead to price increases. Those fears were fuelled in part by a protest campaign that emerged this year to "keep the Bulgarian lev", which tapped into a generally negative view of the single currency among much of the population.

According to the National Statistical Institute, food prices rose by five percent year-on-year in November, more than double the eurozone average. "Unfortunately, prices no longer correspond to those in levs (...) 40 levs is not 20 but 30 euros for certain products," pastry shop owner Turgut Ismail, 33, told AFP, saying that prices have already begun surging. Some people, including business owners, have complained that it has been difficult to get their hands on euros, with shopkeepers saying they haven't received the euro starter packages they ordered.

Banks have already warned of possible disruptions to card payments and ATM withdrawals on New Year's Eve. On Tuesday, people queued outside the Bulgarian National Bank and several currency exchange offices in the capital Sofia to obtain euros, an AFP journalist observed. Elena Shemtova, 37, who owns a small gallery and jewellery shop in the city centre, said she is optimistic.

"We will experience difficulties at first, there will be problems with giving change, but within a month we will have gotten used to it," she told AFP. According to the latest Eurobarometer survey, 49 percent of Bulgarians are against the single currency. As political instability has been rocking the country, any problems with euro adoption would be seized on by anti-EU politicians, said Boryana Dimitrova of the Alpha Research polling institute.

"There will be challenges, but we are counting on the tolerance and understanding of both citizens and businesses," said Jeliazkov. He stressed that introducing the euro will have "a positive long-term effect on the Bulgarian economy and on the environment in which the country is developing". The euro was first rolled out in 12 countries on January 1, 2002. Croatia was the last to join in January 2023. Bulgaria's accession will bring the number of Europeans using the euro to more than 350 million.

The wealthy Southeast Asian nation is heavily reliant on international trade and is vulnerable to any global slowdown induced by the tariffs. In his New Year's message, Prime Minister Lawrence Wong said 2025 "marked a major turning point in global affairs" as "long standing assumptions about open markets and win-win cooperation were questioned and sometimes rejected."

The world has "become less predictable and secure," he said, adding however that "despite these external troubles, our economy performed better than expected". He said the global economy turned out to be more resilient than anticipated and US tariffs were imposed at lower levels than feared. "We also benefitted from an AI-related surge in demand for semiconductors and electronics. As a result, unemployment and inflation remained low, and real incomes have risen across the board," he added.

However, Wong, warned that sustaining that level of economic expansion into next year would be "difficult" and urged Singaporeans to be realistic. "Fractured trade and geopolitical tensions are not transient problems, but permanent features of a more fragmented world," he said. "We will face more obstacles to growth and inflationary pressures may intensify... as a small and open economy, Singapore cannot fully shield ourselves from these headwinds."

The trade ministry has said that the economy is expected to grow at a slower pace of "1.0-3.0 percent" in 2026 due to a weaker global economy as the effects of US tariffs become more pronounced. Wong said Singapore "must rethink, reset and refresh" its economic strategies to remain competitive. Singapore has long depended on the open global trading system to power its growth for decades, but Trump's tariff policies has upended that foundation. A government task force is expected to soon release its recommendations on new economic paths.

Such an annual expansion would be in line with the official government target and on par with the five percent growth recorded in 2024. The world's second-largest economy has come under increasing pressure in recent years, with consumer sentiment having so far failed to recover from a Covid-19 pandemic-induced plunge.

A persistent debt crisis in the property sector, industrial overcapacity and heightened trade conflict with Washington have also darkened the outlook. "We faced challenges head-on and strived diligently, successfully achieving the main goals of economic and social development," Xi said in his remarks to the Chinese People's Political Consultative Conference, according to Xinhua. "The growth rate is expected to reach around five percent," he said.

Experts widely expect Beijing to announce a similar economic growth target for 2026 at a major annual political gathering in early March. Xi said in a later speech broadcast to the nation that China had "overcome many difficulties and challenges" in recent years but that its economic, technological and defence capabilities had improved. "Many large AI models have been competing in a race to the top, and breakthroughs have been achieved in the research and development of our own chips," Xi said, according to Xinhua.

China should "focus on our goals and tasks, boost confidence, and build momentum to press ahead" in the coming year, he said. Data released on Wednesday offered a positive sign for policymakers, with factory activity in December inching into expansionary territory to snap an eight-month streak of contraction.

The notification said with the approval of the authorities concerned and through the Election Commission Secretariat of Bangladesh Election Commission, the order issued in the public interest to come into effect immediately. This has done due to the approval of the officials and employees working in the offices of the Customs and VAT sub-divisions under the NBR for the purpose of posting to newly created offices and inter-departmental transfers, it mentioned.

The above officers are requested to send a copy of their joining letter to the NBR’s Customs and VAT Administration-1 Branch, the release added.

While successive governments in the country of 6.4 million people have advocated joining the euro, hoping that it will boost the economy of the European Union's poorest member, reinforce ties to the West and protect against Russia's influence. Some have opposed the switch however. European Commission president Ursula von der Leyen said Wednesday that Bulgaria's move into the eurozone marked "an important milestone for the country, for the history of the euro, and for the EU as a whole."

The euro will bring "practical benefits to Bulgarian citizens and businesses," she added. "It will make travelling and living abroad easier, boost the transparency and competitiveness of markets, and facilitate trade." Bulgaria, which joined the EU in 2007, faces unique challenges however, including anti-corruption protests that recently swept a conservative-led government from office, leaving the country on the verge of its eighth election in five years.

Outgoing Prime Minister Rossen Jeliazkov still said on Tuesday that his cabinet had accomplished a milestone. "Bulgaria is ending the year with a gross domestic product of 113 billion euros (nearly $132.75 billion) and economic growth of more than three percent, which places us among the top five countries in the EU," he said. He added that inflation in the Black Sea country, which hovers around 3.6 percent, was "linked to increased purchasing power" and a less corrupt economy, and not to the looming euro switch.

- Cheers, fears and queues -

Some Bulgarians worry the introduction of the euro could lead to price increases. Those fears were fuelled in part by a protest campaign that emerged this year to "keep the Bulgarian lev", which tapped into a generally negative view of the single currency among much of the population. According to the National Statistical Institute, food prices rose by five percent year-on-year in November, more than double the eurozone average.

"Unfortunately, prices no longer correspond to those in levs (...) 40 levs is not 20 but 30 euros for certain products," pastry shop owner Turgut Ismail, 33, told AFP, saying that prices have already begun surging. Some people, including business owners, have complained that it has been difficult to get their hands on euros, with shopkeepers saying they haven't received the euro starter packages they ordered. Banks said there could be some disruption at cash machines in the hours before the switch. On Tuesday, people queued outside the Bulgarian National Bank and several currency exchange offices in the capital Sofia to obtain euros.

Elena Shemtova, 37, who owns a small gallery and jewellery shop in Sofia, said she is optimistic. "We will experience difficulties at first, there will be problems with giving change, but within a month we will have gotten used to it," she told AFP. According to the latest Eurobarometer survey, 49 percent of Bulgarians are against the single currency. Amid the political instability, any problems with euro adoption would be seized on by anti-EU politicians, said Boryana Dimitrova of the Alpha Research polling institute.

"There will be challenges, but we are counting on the tolerance and understanding of both citizens and businesses," said Jeliazkov. He stressed that introducing the euro will have "a positive long-term effect on the Bulgarian economy and on the environment in which the country is developing".

The euro was first rolled out in 12 countries on January 1, 2002. Croatia was the last to join in January 2023. Bulgaria's accession will bring the number of Europeans using the euro to more than 350 million.

On August 4, Finance Adviser Dr Salehuddin Ahmed inaugurated the online e-return filing process for the tax year 2025-26 through the website www.etaxnbr.gov.bd. So far, about 45 lakh taxpayers have registered in the e-return system while more than 30 lakh taxpayers have filed e-returns for the tax year 2025-26.  Those for whom e-return filing has not been made mandatory are also filing e-returns online.

About 251,784 taxpayers submitted e-return in August, while 301,302 in September, 454,076 in October, 1040,472 in November and about 10 lakh in December.  In the same period last year, 102,298 taxpayers filed e-returns. For the convenience of taxpayers, the government has already extended the return filing date to January 31, 2026. The NBR is optimistic that more than 40 lakh taxpayers will file e-returns this year within the extended period. Although online filing of returns is not mandatory for Bangladeshi taxpayers residing abroad; if any applicant applies by sending information such as passport number, national identity card number, e-mail address to e-mail ereturn@etaxnbr.gov.bd, an e-mail is being sent to the applicant's e-mail and through this, Bangladeshi taxpayers residing abroad can also register in the e-return system and easily submit income tax returns online. Moreover, their authorised representatives on behalf of the taxpayers can also file e-returns online this year.

Without uploading any papers or documents, taxpayers can easily and hassle-free enter their actual information about their income, expenses, assets and liabilities into the e-return system and pay income tax online through debit card, credit card, internet banking or mobile financial services (Bikash, Nagad, etc.) from home and immediately get an automatic e-return filing acknowledgement. Printout of the automatic income tax certificate is being made.  If there is any mistake in the submitted e-return, a revised return can be filed within 180 days of the return filing. So far, about 30,000 taxpayers have filed revised returns for the tax year 2025-26 in the e-return system.

To make the e-return filing process easy, the NBR has also trained taxpayers and their authorised representatives, including income tax lawyers, chartered accountants, cost and management accountants and chartered secretaries, on the e-return filing process. Taxpayers can get immediate telephonic solutions to their e-return related queries by calling the call center established by the NBR dialling 096437171 71. 

In addition, taxpayers can get solutions to any issue related to e-return in writing from the e-tax service option of www.etaxnbr.gov.bd.  Besides, all services and advice related to e-return filing are being provided during office hours from the e-return help-desks established in all tax regions of the country.

The NBR has requested all individual taxpayers to file their income tax returns for the fiscal year 2025-2026 by January 31, 2026, using the e-return system. 

Large tech names are "kind of carrying the market in today's session," said Briefing.com analyst Patrick O'Hare. Those gains "helped stabilize a market that was kind of acting a little squirrely over the past week," he added. Stocks have been choppy in recent weeks amid unease over the massive spending spree on AI infrastructure. But Micron's results helped reignite the AI stock trade. The Dow and S&P 500 also advanced on a day in which most leading European and Asian bourses also rose.

Also Friday, the Bank of Japan hiked interest rates to a 30-year high. The unanimous vote to lift the main borrowing rate to 0.75 percent from 0.5 percent came hours after official data showed the country's core inflation rate held steady in November but was still well above policymakers' two percent target. The bank began hiking rates from below zero in March last year as figures signaled an end to the country's "lost decades" of stagnation, with inflation surging.

However, the dollar jumped about 1.3 percent following comments from BoJ governor Kazuo Ueda that left some traders wondering about what comes next. "Cautious comments on the rate outlook from BoJ Governor Ueda at his press conference have undercut the yen." said a note from Scotiabank. Russia's central bank said it was cutting its benchmark interest rate to 16 percent as the country's economy sags under the financial burden of the Ukraine offensive and Western sanctions.

The Bank of England cut rates Thursday, when the European Central Bank left eurozone borrowing costs unchanged. Shares in Oracle jumped nearly seven percent after TikTok said it had signed a joint venture deal with investors that would allow the company to maintain operations in the United States. The deal will see Oracle take a 15-percent stake in the joint venture with private equity fund Silver Lake and Abu Dhabi-based MGX, an Emirati state-owned investment fund for artificial intelligence technologies.

But Nike tumbled 10.5 percent after reporting lower quarterly earnings as the sports giant continues to be dogged by poor sales in China.

- Key figures at around 2115 GMT -

New York - Dow: UP 0.4 percent at 48,134.89 (close)

New York - S&P 500: UP 0.9 percent at 6,834.50 (close)

New York - Nasdaq Composite: UP 1.3 percent at 23,307.62 (close)

London - FTSE 100: UP 0.6 percent at 9,897.92 (close)

Paris - CAC 40: FLAT at 8,151.38 (close)

Frankfurt - DAX: UP 0.4 percent at 24,288.40 (close)

Tokyo - Nikkei 225: UP 1.0 percent at 49,507.21 (close)

Hong Kong - Hang Seng Index: UP 0.8 percent at 25,690.53 (close)

Shanghai - Composite: UP 0.4 percent at 3,890.45 (close)

Dollar/yen: UP at 157.59 yen from 155.55 yen on Thursday

Euro/dollar: DOWN at $1.1719 from $1.1722

Pound/dollar: UP at $1.3386 from $1.3381

Euro/pound: DOWN at 87.55 pence from 87.60 pence

Brent North Sea Crude: UP 1.1 percent at $60.47 per barrel

West Texas Intermediate: UP 0.9 percent at $56.66 per barrel

"This is just an idea that I had standing here," Trump said. "I bet you if I called a meeting of the insurance companies, the companies that are involved with health care costs, I would be willing to bet, I think, that they would reduce their prices." The announcement reflects growing concern within Trump's own party over how soaring health care costs could haunt Republicans in the 2026 midterm elections. At year's end subsidies under the Affordable Care Act will expire, after lawmakers failed to reach a deal to extend them. Cash-strapped families will no longer receive health care financial assistance and could see their premiums soar -- or be priced out of medical care entirely.

Meanwhile Trump has been announcing pricing deals with drug companies, convincing them to commit to "Most Favored Nation" pricing: matching the lowest price offered in other wealthy nations. The companies added to the list are Amgen, Bristol Myers Squibb, Boehringer Ingelheim, Genentech, Gilead Sciences, GSK, Merck, Novartis, and Sanofi. The agreement follows similar accords announced in recent months including by Pfizer, AstraZeneca and Novo Nordisk, bringing the total number so far to 14.

The lowered rates will be charged to Medicaid, officials said, the US health insurance program for low-income Americans, which already must get the lowest drug prices in the US. Some drugs will also be available via websites -- which patients are set to be able to find via the yet-to-launch TrumpRx site -- for direct purchase. In a briefing officials said they expect TrumpRx to be up and running in January. Companies have been making these voluntary deals after Trump sent a letter to 17 major companies over the summer demanding lower drug prices. In exchange drugmakers have received incentives including tariff relief.

Sky-high drug prices are a perennial source of widespread ire in the United States, and have sparked numerous legislative and administrative actions the impact of which can be difficult to determine.

The fuel price increases, which took effect on Thursday, caused fares for buses -- the main mode of transport in the Andean country -- to double. Bus drivers took to the streets of the administrative capital La Paz, satellite city of El Alto and eastern economic hub of Santa Cruz to demand the subsidies be reinstated. They were joined in La Paz by traders, who said the fuel hikes were making their goods too expensive for customers.

"For us, there is no Christmas anymore," Paulina Tancara, a 74-year-old small-business owner, told AFP, expressing her disappointment with Paz, whom she backed in the two-round August-October elections. Bolivia is experiencing a severe shortage of the foreign currency needed to import fuel and other essentials. Annual inflation rose to nearly 20 percent in November. Previous attempts to eliminate the country's cherished fuel subsidies have however encountered stiff resistance.

Apart from transport workers and traders, other sectors have announced protests over the fuel increases. One mining union has declared an indefinite strike, and on Monday coca growers led by former socialist president Evo Morales will march on the central city of Cochabamba. Morales, who served three terms as president between 2006 and 2019, had attempted to stand again in this year's election but was barred by constitutional term limits.

The two vacant positions were created as current shareholder directors Mohammad Shahjahan and Md. Shakil Rizvi will retire during the DSE's 64th Annual General Meeting. The DSE Board of Directors formed a three-member Election Commission (EC) on October 14, 2025, during its 1101st board meeting to oversee the election for the two vacant director positions.

The EC is chaired by Retired Justice (Bangladesh Supreme Court’s High Court Division) Md. Abdus Samad. The other two members of the Election Commission are shareholder representatives Mohammad Ibrahim and Dr. Md. Zahirul Islam. The Election Commission announced the election schedule for the two shareholder director posts on October 28, 2025. The designated time for accepting and submitting nomination papers was from November 13 to November 19, 2025, until 5:00 PM during office hours.

During this period, Md. Hanif Bhuiyan, representing Rapid Securities Limited, and Md. Sazedul Islam, representing Shyamol Equity Management Limited, filed their nominations.

Shares in HashKey Group, which was established in 2018 and runs an exchange alongside other ventures, ended the morning down 2.69 percent at HK$6.50 (US$0.84) on its market debut, having raised US$205 million in its initial public offering. CEO Xiao Feng hailed the debut as a "glorious day" that showed how "taking the compliant route can also lead to success". "As entrepreneurs, we come from mainland (China), but HashKey is a homegrown Hong Kong company," Xiao said at its listing ceremony.

"We firmly believe that even in the digital asset industry, a complete set of regulatory rules -- built on centuries of human societal experience -- is essential," he added. Hong Kong is seen as an experimental field for using cryptocurrencies as mainstream investment tools. Earlier this year the city launched a licensing system for stablecoins, a less volatile type of digital unit.

"China is still quite careful of the use of cryptocurrency," Merton Lam, head of the digital asset firm Crypto HK, told AFP. So the world's second-largest economy likely sees Hong Kong as "a testing ground" for the technology, he said. "Crypto is a global thing" and people in Hong Kong can already use major international exchanges such as Binance, but local operators like HashKey can be convenient for those who want to transfer cash into crypto, Lam added.

Etelka Bogardi, a financial technology lawyer at Reed Smith, said the timing was good for HashKey given the "very buoyant IPO market" but the city's crypto-friendly policies had also played a role. "Hong Kong in particular in the last 12, 18 months has really pushed ahead with a lot of regulations, clarifications, pushes by the administration to make it a more facilitative environment" for blockchain technology, she told AFP.

The pharma giant last month completed an acquisition of biotech firm Metsera, deepening its portfolio of products in the fast-growing market for weight loss drugs. Pfizer has also identified oncology as a major growth area, while Chief Executive Albert Bourla insisted the company would continue to invest in vaccines in the face of recent controversial policies under the vaccine-skeptic Trump administration.

The drugmaker expects a drop of $1.5 billion in 2026 revenues tied to lower Covid-19 sales and the decline of another $1.5 billion from products experiencing a loss of exclusivity. Pfizer has maintained a dividend but not undertaken share repurchases in 2025. Executives said they would continue to steer cash into development programs rather than stock repurchases. "Obviously I would love to do share repurchases," Chief Financial Officer David Denton said on a conference call. "The reality is at this point in time, I think the best and highest use of capital is continued investment in business development."

Briefing.com said the results underscored Pfizer's "painful transition" out of the Covid-19 era. The tepid outlook "indicates that earnings will likely remain stagnant or decline slightly as the company digests the Metsera deal and ramps up R&D," Briefing.com said in its note. On vaccines, Bourla characterized recent policy shifts under US Health Secretary Robert Kennedy as misguided.

"Vaccines are an essential part of any health care system," Bourla said. "We will continue investing in vaccines because ... this is an anomaly that will correct itself. I hope pretty soon." Under Kennedy, an appointee of Donald Trump, the Centers for Disease Control recently revised its website with language that undermines its previous, scientifically grounded position that immunizations do not cause autism. Bourla has also touted a deal announced in September with the Trump administration in which the company promised to lower some drug prices in exchange for a three-year reprieve on planned tariffs. Shares of Pfizer fell 3.8 percent in afternoon trading.

Hiring picked up again in November to 64,000, but this was still a slower pace than before. "Today's US data releases were overall weaker than expected, although not as bad as some had feared either," said Forex.com analyst Fawad Razaqzada. He noted that market expectations of a Federal Reserve rate cut in March increased to 60 percent after the jobs report, up from around 50 percent. While poor data boosting the chance of interest rate cuts by the US Federal Reserve can often prop up stocks, Wall Street's main indices pushed lower on signs of a weaker economy.

Separate data showed US retail sales held stable in October, while analysts had been looking for a small gain, and September's rise was revised down to 0.1 percent. But eToro analyst Bret Kenwell pointed out that part of the report that is used for calculating gross domestic product hit its highest level since the summer. "Today's update underscores two themes that have been in place: A resilient consumer and a cooling labor market," he said. Meanwhile, the Brent international oil benchmark dropped below $60 per barrel for the first time since May, while the main US crude contract, the WTI, briefly fell below $55 per barrel for the first time since 2021.

A deal to end the war in Ukraine could ease sanctions on Russian oil, adding to oversupply concerns already weighing on the market. US President Donald Trump said Monday that a deal to end the war was closer than ever, after Washington said it offered Kyiv NATO-like security guarantees and voiced confidence Moscow would accept. Kathleen Brooks, research director at XTB, also pointed out that prices on Middle Eastern oil for immediate trade are lower than those for futures contracts.

"When this happens, expectations are that future prices will fall back towards spot price levels, which can aggravate price declines," she said. European defense stocks slid Tuesday following the update on the talks, analysts said. "A peace deal between Russia and Ukraine looks to be back on the agenda but there have already been multiple false dawns this year," noted Derren Nathan, head of equity research at Hargreaves Lansdown. Weak UK jobs data strengthened expectations that the Bank of England will trim borrowing costs on Thursday.

The European Central Bank is set to hold interest rates steady this week. The yen held gains against the dollar ahead of an expected rate hike by the Bank of Japan on Friday. Among individual companies, Pfizer fell 3.4 percent after it projected a dip in full-year adjusted profits per share on roughly flat revenues. The big drugmaker is ramping up investments in new products to offset declines in Covid-19 revenues.

- Key figures at around 2115 GMT -

New York - Dow: DOWN 0.6 percent at 48,114.26 (close)

New York - S&P 500: DOWN 0.2 percent at 6,800.26 (close)

New York - Nasdaq Composite: UP 0.2 percent at 23.111.46 (close)

London - FTSE 100: DOWN 0.7 percent at 9,684.79 (close)

Paris - CAC 40: DOWN 0.2 percent at 8,106.16 (close)

Frankfurt - DAX: DOWN 0.6 percent at 24,076.87 (close)

Tokyo - Nikkei 225: DOWN 1.6 percent at 49,383.29 (close)

Hong Kong - Hang Seng Index: DOWN 1.5 percent at 25,235.41 (close)

Shanghai - Composite: DOWN 1.1 percent at 3,824.81 (close)

Euro/dollar: DOWN at $1.1747 from $1.1753 on Monday

Dollar/yen: DOWN at 154.80 yen from 155.23

Pound/dollar: UP at $1.3422 from $1.3376

Euro/pound: DOWN at 87.52 pence from 87.86

Brent North Sea Crude: DOWN 2.7 percent at $58.92 per barrel

West Texas Intermediate: DOWN 2.7 percent at $55.27 per barrel

Comptroller and Auditor General (CAG) of Bangladesh Md Nurul Islam attended the event as the chief guest. The special guests included Ambassador of the European Union to Bangladesh Michael Miller, Ambassador of Poland to India Piotr Antoni Świtalski, and Vice-President of Poland’s Supreme Audit Institution (NIK) Jacek Kozłowski.

Senior officials of the Office of the Comptroller and Auditor General (OCAG), representatives from Poland’s Supreme Audit Institution, officials from various ministries, departments and agencies, members of diplomatic missions, development partners and other stakeholders were also present at the conference, said a press release received here today.

Speaking on the occasion, CAG Md Nurul Islam said the Office of the Comptroller and Auditor General plays a crucial role in strengthening accountability, transparency and public trust in state institutions. He expressed confidence that the strategic partnership with Poland’s Supreme Audit Institution would contribute significantly to the modernization of audit management and enhancement of audit capacity in priority areas.

Welcoming the launch of the project, EU Ambassador Michael Miller reiterated the European Union’s continued commitment to strengthening public oversight and financial governance in Bangladesh. He said effective and independent audit institutions are essential for ensuring sustainable development.

Polish Ambassador to India Piotr Antoni Śitalski praised the long-standing cooperation between Bangladesh and Poland. He expressed hope that the partnership between the Office of the Comptroller and Auditor General of Bangladesh and Poland’s Supreme Audit Institution would further deepen professional exchanges, institutional development and bilateral relations between the two countries.

Vice-President of Poland’s Supreme Audit Institution Jacek Kozłowski reaffirmed NIK’s commitment to sharing international best practices and professional experience with the Office of the Comptroller and Auditor General of Bangladesh. He said the project reflects a shared vision for strengthening public sector auditing and improving accountability frameworks.

Under the Twinning Project, the capacity of the Office of the Comptroller and Auditor General will be enhanced to conduct financial, performance and information system (IT) audits in line with international standards. The key areas of cooperation include institutionalization of financial audits, strengthening of performance audits, and advancement of IT audits through model audits and strategic development.

The successful implementation of the project is expected to improve Bangladesh’s public financial management system by enhancing independent assurance on the use of public resources and further strengthening the country’s position as a reliable international partner.

Leading companies in the tobacco industry today issued a joint statement, expressing their serious concerns over the Government’s attempt to pass the proposed amendment to the Tobacco Control Act without a stakeholder-inclusive consultation in the absence of appropriate Parliamentary process. Industry players believe that the proposed amendment will result in far-reaching, negative consequences on the country’s economy, investment climate, risk to consumer product quality, and, most importantly, the livelihood of the associated communities.

In a unified statement, the industry leaders, British American Tobacco Bangladesh (BATB), Philip Morris Bangladesh, and JT International Bangladesh, said:  “While we fully support the Government’s commitment to public health, we believe that the certain measures proposed in the draft ordinance are not evidence-based, and will jeopardize the local livelihoods, further fuel an already growing illicit tobacco market, result in government tax revenue leak, and discourage further foreign investment – ultimately severely impacting an already declining industry.

“Amongst multiple detrimental clauses, the draft includes an ingredient ban, which poses direct threat to the current cigarette operations in the country entirely. The ingredients included in the proposal for ban are essential for processing, manufacturing, and preservation, and are critical to ensure product integrity. In addition, other business-critical clauses, such as mandating retailers license to sell cigarettes, will impact the current 1.5 million retailers and disrupt the legal sales of tobacco products to the retailers and the operations of associated 150,000 tobacco farmers, until the licenses are made available to all the impacted parties and this requires a fair and transparent process with proper consultation.

“Furthermore, the proposed prohibition of smokeless nicotine and tobacco products will take away legitimate choices for adult nicotine consumers, who are looking for reduced risk profile alternatives compared to combustible cigarettes, to transition from combustible tobacco. A de-facto ban on these important product categories will further boost an existing illicit market with compromised quality products, as seen in other countries such as India and Australia. The illicit products will not be controlled by any standards to ensure product quality, further increasing the risk for consumer access to these products.”

“Enacting the proposed Bill without a holistic stakeholder-inclusive consultation poses significant risks to Bangladesh’s economy and public health objectives. We urge the Government to consider the views of manufacturers, impacted farmers, marginalized retailers, hawkers, printers, and others in the value chain, to avoid the negative, unintended consequences caused by these proposed amendments. We are fully committed to collaborating with the Government, alongside other stakeholders, to find a balanced and comprehensive solution.”

When the Tobacco Control Act was first drafted in 2005, the Government coordinated a stakeholder-inclusive dialogue with the manufacturers, as well as impacted parties across the value chain. As a result, the adopted tobacco control act was balanced and effective. Since its adoption, the smoking prevalence has decreased, and the illegal market of cigarettes had been contained at the minimal level.

Given the economy of the country is already at a challenging stage, any non-stakeholder inclusive decision can put the entire industry and much-needed tax revenue at risk. Excluding the year impacted by COVID-19, the tobacco sector delivered an annual government revenue growth of 12-15%, but in the fiscal year of 2024-25, it has come down to only around 4- 5%.

The tobacco industry has also played a vital role in employment of the local communities, directly and indirectly supporting an estimated 4.4 million livelihoods across the value chain, including over 150,000 farmers and 1.5 million retailers.  Furthermore, the sector has historically attracted significant foreign direct investment (FDI), including the landmark USD 1.5 billion acquisition of a local tobacco business by JT International Bangladesh—the largest FDI inflow in Bangladesh in the past 50 years.

"We want to ensure that the January coupon payments don't lower the level of reserves," Caputo said. According to local press reports, the debt maturities are estimated to be around $4.2 billion. Since April, Argentina has had a $20 billion program with the International Monetary Fund. The Washington-based fund has asked the government for "additional efforts" in accumulating reserves, which as of December 3 stood at $41.9 billion, according to the central bank.

Caputo denied that Argentina was negotiating a $20-billion loan with private banks and the amount had later been reduced to $5 billion. "There is no possibility that banks will lend Argentina $20 billion. It was a lie," he said. In October, US Treasury Secretary Scott Bessent had mooted the idea of a $20-billion loan after the two countries signed a separate US financing agreement for Argentina for the same amount.

"We weren't talking to banks to get a $20-billion loan, we were talking to the United States ... and two other countries," Caputo said, clarifying that this is what Bessent had been referring to. Caputo did not specify which other two countries he was referring to. 

The need for more action was further stoked by data from payrolls firm ADP showing 32,000 posts were lost in November, compared with an expected rise of 10,000, according to Bloomberg. "Hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment," ADP chief economist Nela Richardson said. The reading was also the most since early 2023 and is the latest example of a stuttering labour market.

"Right now, the data argues for additional Fed funds rate cuts. US labor demand is weak, consumer spending is showing early signs of cracking, and upside risks to inflation are fading," Elias Haddad, of Brown Brothers Harriman & Co, wrote. Markets in Asia stumbled as they struggled to match New York's advance. Tokyo advanced with Sydney and Manila, but Hong Kong, Shanghai, Seoul, Singapore, Wellington and Taipei were all down.

Still, Pepperstone's Michael Brown said in a note: "Path continues to point to the upside, with the bull case remaining a very solid one indeed, and with participants seeking to ride the coattails of the rally higher, especially amid the increased influence of FOMO/FOMU flows as we move into the end of the year." However, while market players remain confident that the Fed will continue to cut interest rates into the new year, economists at Bank of America still had a note of caution. "The most immediate source of volatility remains the U.S. Federal Reserve," they wrote.

"While inflation has moderated and the trajectory of policy easing is intact, uncertainty around timing persists. Any delay in rate cuts could remain a source of volatility."

- Key figures at around 0230 GMT -

Tokyo - Nikkei 225: UP 1.5 percent at 50,596.24 (break)

Hong Kong - Hang Seng Index: DOWN 0.3 percent at 25,687.40

Shanghai - Composite: DOWN 0.4 percent at 3846.39

Euro/dollar: DOWN at $1.1660 from $1.1667 on Wednesday

Pound/dollar: DOWN at $1.3336 from $1.3352

Dollar/yen: UP at 155.37 yen from 155.23 yen

Euro/pound: UP at 87.43 pence from 87.39 pence

West Texas Intermediate: UP 0.2 percent at $59.09 per barrel

Brent North Sea Crude: UP 0.2 percent at $62.77 per barrel

New York - Dow: UP 0.9 percent at 47,882.90 (close)

London - FTSE 100: DOWN 0.1 percent at 9,692.07 (close)

The need for more action was further stoked by data from payrolls firm ADP showing 32,000 posts were lost in November, compared with an expected rise of 10,000, according to Bloomberg. "Hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment," ADP chief economist Nela Richardson said. The reading was also the most since early 2023 and is the latest example of a stuttering labour market.

"Right now, the data argues for additional Fed funds rate cuts. US labor demand is weak, consumer spending is showing early signs of cracking, and upside risks to inflation are fading," Elias Haddad, of Brown Brothers Harriman & Co, wrote. After New York's advance, Tokyo rallied more than two percent, with Hong Kong, Sydney, Taipei and Bangkok also up, along with London, Paris and Frankfurt.

Shanghai, Seoul, Singapore, Wellington, Manila, Mumbai and Bangkok slipped. A healthy 30-year Japanese government bond sale provided some support as it slightly eased tensions about a posible rate hike by the central bank this month. The news compounded a strong response to a 10-year auction earlier in the week that settled some nerves. On stocks, Pepperstone's Michael Brown said in a note: "Path continues to point to the upside, with the bull case remaining a very solid one indeed, and with participants seeking to ride the coattails of the rally higher, especially amid the increased influence of FOMO/FOMU flows as we move into the end of the year."

However, while market players remain confident that the Fed will continue to cut interest rates into the new year, economists at Bank of America still had a note of caution. "The most immediate source of volatility remains the US Federal Reserve," they wrote. "While inflation has moderated and the trajectory of policy easing is intact, uncertainty around timing persists. Any delay in rate cuts could remain a source of volatility."

On currency markets the Indian rupee wallowed at record lows of more than 90 per dollar as investors grow increasingly worried about a lack of progress in trade talks with Washington, as observers say Donald Trump's 50 percent tariffs are taking a toll on the economy.

- Key figures at around 0815 GMT -

Tokyo - Nikkei 225: UP 2.3 percent at 51,028.42 (close)

Hong Kong - Hang Seng Index: UP 0.7 percent at 25,935.90 (close)

Shanghai - Composite: DOWN 0.1 percent at 3,875.79 (close)

London - FTSE 100: UP 0.1 percent at 9,701.92

Euro/dollar: DOWN at $1.1663 from $1.1667 on Wednesday

Pound/dollar: DOWN at $1.3337 from $1.3352

Dollar/yen: UP at 155.25 yen from 155.23 yen

Euro/pound: UP at 87.45 pence from 87.39 pence

West Texas Intermediate: UP 0.7 percent at $59.36 per barrel

Brent North Sea Crude: UP 0.6 percent at $63.04 per barrel

New York - Dow: UP 0.9 percent at 47,882.90 (close)

Under the Ministry of Commerce, the government will procure 50 lakh litres of soybean oil from Sonargaon Seeds Crushing Mills Ltd. at a cost of TK 89.92 crore, with the per-litre price fixed at TK  179.85. The Committee also endorsed the purchase of 1 crore litres of refined rice bran oil through local competitive bidding. Of this, 30 lakh litres will come from Tamim Agro Industries Ltd., and 70 lakh litres from Majumder Bran Oil Mills Ltd. The total contract value is TK 161 crore, with a per-litre price of TK 161. Officials said the move is aimed at ensuring stable edible oil supply ahead of increased seasonal demand.

The meeting was chaired by BSEC Chairman Khondoker Rashed Maqsood. According to a BSEC notification, the extension was granted after the commission reviewed and considered the action plan submitted by these institutions regarding the provisioning and adjustment of their negative equity and unrealized losses.

The 11  institutions are: Fintra Securities Ltd., Sheltech Brokerage Limited, Joytun Securities International Ltd., BDBL Investment Services Ltd., Hazrat Amanat Shah Securities Ltd., GMF Securities Ltd., Wifang Securities Limited, BRB Securities Ltd., BNB Securities Ltd., BMSL Investment Limited and Midas Investment Limited. This latest regulatory action highlighted a continuing trend of financial stress among capital market intermediaries. This extension follows a similar decision made by the BSEC earlier in November.

 "Our main goal will be regaining the trust of the depositors. The United Islami Bank will become a symbol of trust to the nation," Ayub said. Ayub Mia noted that the discussion with the central bank governor focused on reviewing the bank's vision, mission, legal framework, and operational roadmap. He said the process of establishing the bank as a fully operational entity – along with the legal merger of the five institutions – will now move forward.

Earlier on Sunday, a special board meeting chaired by Bangladesh Bank Governor Ahsan H Mansur decided to merge five troubled Islamic banks – First Security Islami Bank, Global Islami Bank, Social Islami Bank, Exim Bank, and Union Bank – into a single new entity. The central bank formally handed over the licence yesterday.

 The bank has already started official activities from its head office at Sena Kalyan Bhaban in Motijheel. Bangladesh Bank announced that Governor Mansur will formally inaugurate the new institution at a press conference on Thursday.  Sammilito Islami Bank PLC has been established with a paid-up capital of Tk35,000 crore, of which the government will provide Tk20,000 crore, while the remaining Tk15,000 crore will be raised through depositors' shares. The authorised capital has been set at Tk40,000 crore.

 Bangladesh Bank expects the newly merged institution to play a significant role in stabilising the Islamic banking sector. The process of returning deposits of up to Tk200,000 is set to begin next week, while a roadmap is being prepared for reimbursing larger deposits. 

Market liquidity continued to remain tightened as average market turnover declined by 8.9% to Taka 3.8 billion as against Taka 4.2 billion in the previous session. On the sectoral front, Engineering (15.4%) issues exerted the highest turnover, followed by Pharma (13.7%) and Textile (11.2%) sectors. Sectors, except Services (-0.4%), displayed positive returns, out of which Textile (19.2%), General Insurance (1.9%) and Travel (1.8%) exhibited the most positive returns on the bourse today. Out of the 397 issues traded, 283 advanced, 54 declined and 60 remained unchanged.

The port city bourse, CSE, however witnessed a negative session today. The selected indices (CSCX) and All Share Price Index (CASPI) edged down by 0.9 points and 1.9 points, respectively.

The meeting was held at the BGMEA office in Uttara, where BGMEA Senior Vice President Inamul Haque Khan, Vice President (Finance) Mizanur Rahman, Director Shah Raid Chowdhury, Director Md. Hasib Uddin, Director Nafis-ud-Doula, and Director Zowardar Mohammad Hosne Komar Alam were present. During the discussion, LPP S.A. expressed a clear intention to enhance sourcing from Bangladesh, particularly for products such as outerwear, heavy knit, men’s underwear, and joggers, and to work closely with BGMEA in this regard, said a press release.

The meeting also emphasized building long-term partnerships, ensuring stability and transparency in the supply chain, and enhancing the capacity of Bangladesh’s apparel sector. Both sides also discussed creating direct export opportunities by on boarding small and medium factories (SMEs) into the RSC. It is noteworthy that LPP S.A. currently sources apparel worth US$770 million annually from Bangladesh and considers the country its largest sourcing hub, keeping Bangladesh at the top of their preferred list.

LPP S.A. Procurement Director Joanna Sikorska said, “Bangladesh is an extremely important sourcing hub for us. We are keen to strengthen our business base here and will continue working to maintain stability in our supply chain.” She also reaffirmed the brand’s commitment to supporting sustainable development and responsible business practices in Bangladesh’s apparel industry.

BGMEA President Mahmud Hasan Khan urged the Polish brand to further increase its sourcing from Bangladesh. He said, “LPP S.A. is a highly important buyer for Bangladesh’s apparel sector. We believe both sides will benefit from expanding their sourcing from Bangladesh and building long-term relationships with suppliers. Bangladesh’s garment industry is committed to meeting all compliance and quality standards required by buyers.” Both parties agreed on the importance of establishing strong mutual understanding and long-term strategic engagement between LPP S.A. and Bangladeshi suppliers.

Thirteen officers and employees received special awards for outstanding service, while eight others were honoured for performing high-risk duties. Twenty-nine port-using institutions were also recognised for excellence in various operational categories. In addition, 56 officers and employees who went on PRL over the past year were accorded a farewell. Established on 1 December 1950 as Chalna Port, it was renamed Mongla Port Authority under the Port of Chalna Authority Act, 1987.

In FY 2024-25, the port handled 10.41 million tonnes of cargo against the target of 8.88 million tonnes, and 21,456 TEUs of containers against a target of 20,000 TEUs. Revenue stood at Tk 343.30 crore, surpassing the target, while net profit reached Tk 62.10 crore against the target of Tk 20.46 crore.

Officials said modern equipment now enables handling over 24 containers per hour, and regular dredging ensures simultaneous operation of five ships at five jetties. In the first five months of the current fiscal year, the port received 356 ships, handled 13,854 TEUs, imported 4,139 vehicles and managed 4.4 million tonnes of goods.

The November 2025 issue of Economic Update and Outlook, published by the General Economics Division (GED) of the Planning Commission, offers a cautiously optimistic view but warns that deep structural weaknesses—along with the political transition period—could constrain economic momentum. According to the analysis, the economy could regain pace if the election produces a clear political direction and the next government decisively undertakes long-delayed reforms, particularly in improving the business climate, stabilising the banking system, and ensuring fiscal and energy security. Without such reforms, the recovery may be short-lived.

The Asian Development Bank (ADB) has forecast around 5 percent GDP growth for FY26 following a sluggish period. Remittances and garment exports continue to provide much-needed resilience. But, the GED notes that the broader economic environment remains fragile as both investors and entrepreneurs appear to be “waiting” for political stability before committing to new ventures. Election-related spending and possible disruptions during the transition are expected to add further pressure on inflation and the foreign exchange market, complicating stabilisation efforts.

Overall inflation dropped to 8.17 percent in October 2025, from 10.87 percent a year earlier, driven almost entirely by a sharp fall in food inflation. Food inflation plunged from 12.66 percent in October 2024 to 7.08 percent in October 2025 as rice supply improved due to the Aman harvest, imports and public procurement. However, non-food inflation inched up to 9.13 percent, reflecting persistent pressure in housing, transport and healthcare—an indication that inflation remains far from under control. The report points out that rice alone accounted for about 47 percent of total food inflation in October. While vegetables exerted a strong negative contribution due to seasonal abundance, protein items such as beef, chicken and hilsa saw steady inflation, influenced by feed and transport costs.

While bank deposits grew at nearly double-digit rates through August and September, private-sector credit growth fell to just 6.29 percent—the lowest in at least four years and well below the Bangladesh Bank’s FY26 target of 7.2 percent. High lending rates, cautious bank behaviour and political uncertainty have depressed investment appetite. Meanwhile, government borrowing from commercial banks surged 24.45 percent in September, raising concerns about crowding out private borrowers. Interest rate spreads also exposed deep structural distortions. Foreign commercial banks maintained spreads close to 9 percent—far higher than state-owned and private banks—highlighting issues such as high operational costs, non-performing loans and market concentration.

Revenue collection in October 2025 fell short of the target by Tk 8,324 crore, achieving only 77.37 percent of the month’s goal. All major revenue streams—import duties, domestic VAT, and income tax—underperformed. Although collection was slightly higher than in October 2024, the growth of just 2.2 percent was described as “pessimistic” given inflationary pressures and increased public spending needs. ADP utilisation continues to lag despite marginal improvements. Up to October, utilisation stood at 8.33 percent, only a slight increase from 7.90 percent last year. Lower overall allocations and reduced spending under own-financing components indicate financial strain and weak project execution.

The report notes that while utilisation rates improved marginally in some categories, the decline in total expenditure—from Taka 8,762 crore last year to Tk 7,720 crore this year—reflects ongoing bottlenecks in planning, fund release and implementation. Foreign exchange reserves improved significantly, rising from US$24.35 billion in November 2024 to US$ 32.34 billion in October 2025. BPM6 reserves also rose sharply, supported by stronger remittances and prudent reserve management.

Remittances surged in the first four months of FY26, with each month outperforming the previous year and September recording the highest inflows. However, export earnings remained volatile. Exports peaked in July at US$ 4.77 billion but suffered sharp declines in April and June. RMG exports mirrored these fluctuations, while non-RMG exports also experienced mid-year downturns. Imports—especially capital machinery—saw steep contractions year-on-year, signalling depressed investment demand. A slight month-on-month recovery in August and September suggests only tentative stabilisation.

The real effective exchange rate (REER) appreciated notably, indicating eroding external competitiveness. The report warns that large-scale dollar purchases by the central bank—unless sterilised—could fuel inflation and distort market-based exchange rate mechanisms. 

He expressed sincere appreciation to the Interim Government and people of Bangladesh to open a new chapter in this democratic journey. "As a faithful development partner of Bangladesh, Japan will support as always," SHINICHI added. He also mentioned that so many projects are ongoing in Bangladesh with Japanese support. Emphasizing that these impartial and interconnected projects will continue to move forward even during Bangladesh's current transitional phase.

"Japan is determined to staying at the center of Bangladesh's development journey," He praised JBCCI as a unique bilateral institution jointly composed of companies of both nations, expected to foster the further wide and deepen both nation's economic cooperation. He added that both nations can help each other to bridge the gaps, that may be coming up from cultural and business opportunity purpose. He concluded by wishing all the best to the participants for a fruitful exchanging at the AGM. JBCCI President Tareq Rafi Bhuiyan (Jun) delivered his welcoming remarks and illustrated JBCCI's role play in recent times for developing bilateral trade relations between Japan and Bangladesh further.

He emphasized the long-standing friendship between Japan and Bangladesh, highlighting JBCCI's 20-year journey in strengthening trade, investment, and cooperation. He expressed gratitude to partners such as the Embassy of Japan, JETRO, JICA, and other stakeholders for their continued support. He mentioned that JBCCI's one of the key focuses this year has been the Economic Partnership Agreement (EPA), now under negotiation. Once finalized, this EPA will establish an upgraded framework for trade, investment, and economic cooperation.

Maria Howlader, Secretary General, JBCCI described the major activities of JBCCI undertaken during October 2024 to November 2025. She stated that currently JBCCI consist of 369 Member companies including Japanese and multinational companies. Continuous growth of Membership engagement in JBCCI shows the bilateral trade relations are strengthening further. Kenji Kimura, Treasurer, JBCCI presented the audited Annual Financial Report and highlighted key points from the report.

The participants appreciated JBCCI for arranging seminar, round table discussion, networking, meeting with government & other organizations on different issues being implemented during October 2024 to November 2025. Officials of the Embassy of Japan also participated in it. The meeting concluded with a Vote of Thanks delivered by Md Anwar Shahid, Vice President, JBCCI, who expressed gratitude to all guests and members for their participation and contributions to the AGM.

The Adviser said the Global Sourcing Expo will open doors for meaningful dialogue, collaboration and long-term business partnerships, enabling experts, manufacturers, policymakers, investors and innovators from home and abroad to share ideas, said a Commerce Ministry press release. Bashir Uddin said Bangladesh is soon graduating from the Least Developed Country (LDC) category. "This milestone reflects the nation's progress, but it also brings new challenges. The preferential market benefits and tariff concessions that Bangladesh currently enjoys will gradually diminish."

He added that to successfully manage this transition, Bangladesh must rapidly move towards diversifying its products and export markets, enhancing competitiveness and adopting forward-looking trade policies. In this context, organizing the Global Sourcing Expo is not only timely, but also strategically important for the country's future, he noted. Special guest at the event was Dr Lutfey Siddiqi, Special Envoy for International Affairs to the Chief Adviser.

The welcome speech was delivered by Mohammad Hasan Arif, Vice Chairman of the Export Promotion Bureau (EPB). The programme was chaired by Commerce Secretary Mahbubur Rahman. Other special guests included FBCCI Administrator and Additional Secretary (Export), Ministry of Commerce, Md Abdur Rahim Khan, and BKMEA President Mohammad Hatem.

To showcase Bangladesh's export potential in the global market, the government has been organizing the country's first-ever Global Sourcing Expo. The three-day exhibition will run from today till December 3 at the Bangladesh-China Friendship Exhibition Centre, Purbachal. The event is jointly organized by the Export Promotion Bureau (EPB) and the Ministry of Commerce.

Eight major export sectors of Bangladesh are being showcased at this year's expo: readymade garments, leather and leather goods, jute and jute products, agricultural products, plastics and kitchenware, home decor and furniture, pharmaceuticals and information and communication technology (ICT). More than a hundred companies from these sectors, including multinational enterprises, wholesalers and supply-chain representatives, are participating.

Buyers, investors and sourcing organizations from Afghanistan, China, Iran, Japan, Myanmar, Pakistan, Singapore, Sri Lanka, Thailand, the UAE, the USA and various other countries are attending the expo.  They will participate in B2B meetings, engage in trade negotiations and finalize purchase contracts. The expo also features 10 thematic seminars, online and offline B2B sessions, more than 150 stalls, networking events and a fashion show.

The license was officially transferred by Bayezid Sarker, Director of the Department of Banking Regulation and Policy. Accepting the license on behalf of Nazma Mobarek, Secretary of the Financial Institutions Division of the Ministry of Finance were Md. Azimuddin Biswas, NDC, Additional Secretary, and Sheikh Farid, Joint Secretary.

Several senior officials from the central bank were present during the presentation. In addition to Governor Dr. Mansur, attendees included Dr. Md. Kabir Ahammed, Deputy Governor, and officials from the Governor’s Office.

At the event, certificates and crests were handed over to some 200 trainees who successfully completed the industry-based training programme, said a press release here today. The BASIS Administrator further said, "The IT sector is now playing a vital role as one of the key stakeholders in the nation's progress. Therefore, for their own advancement and the development of the country, students should prepare themselves not only for the IT sector but also as entrepreneurs across other sectors."

The event was graced by Khandaker Mahbub Uddin Khokon, president of the Bangladesh Supreme Court Bar Association, as the chief guest. Also present were Manzur Mohammad Shahriar, director of DEIED Project under the Bangladesh Hi-Tech Park Authority; Mostafa Kamal Duke, managing director (MD) of Flora Telecom and Member of BASIS Associate Committee; Rowshan Kamal James, member of BASIS Associate Committee; renowned young entrepreneur and political organiser Robiul Islam Noyon, along with senior officials, trainers, and trainees of Atova Technology. In his speech, Mahbub Uddin Khokon said, "Practical training enhances the efficiency and confidence of young people.

Initiatives like this are highly commendable for human resource development." Speaking at the ceremony, DEIED Project Director Manzur Mohammad Shahriar said, "The core objective of the DEIED project is to enhance industry-ready skills among youth. Atova's initiative will further strengthen this goal." Robiul Islam Noyon said, "Industry-based training enables young people to better prepare for real workplace environments." Rowshan Kamal James stated, "BASIS welcomes every initiative aimed at developing skilled IT professionals. Atova's efforts are undoubtedly praiseworthy." In his remarks, Ferdous Alam, chief executive officer (CEO) of Atova Technology, said, "Our goal is not only to provide training but to prepare young people to work effectively in real industrial environments. In the coming days, we will expand our training and career support programmes even further." During the event, the trainees shared their learning experiences and received guidance on future career pathways.

Senior officials from BGMEA present on the stage included Senior Vice President Inam ul Haque Khan (Babulu); Vice Presidents Md. Rezwan Selim, Mizanur Rahman (Finance), Md. Shihab Uddowza Chowdhury, Shah Raeed Chowdhury; Directors Nafis-ud-Doula Chowdhury, Sheikh Hossain Mohammad Mostafiz, Kazi Mizanur Rahman, Asef Kamal Pasha, Mohammad Sohel; Chairman of the BGMEA Sports Committee Md. Sajjad Ali Khan; Chairman of the Press, Publication & Publicity Committee Mohammad Masud Kabir; and Chairman of the Branding BGMEA Committee Khan Monirul Islam (Shuvo).

Representing BFF, Vice President Fahad Mohammad Ahmed Karim and Executive Committee Member Iqbal Hossain were also present, said a press release. The MoU aims to improve the quality of life of garment workers and contribute to the advancement of Bangladeshi football through joint programs, training initiatives, talent development, and welfare-oriented activities. Key areas of collaboration include: BFF will provide technical teams and training assistance to BGMEA for organizing football events; BFF will help train garment workers in soft-skill areas such as referee and coaching licenses; BGMEA and BFF will jointly undertake programs for BGMEA member factories; Promotional documentaries of BGMEA will be showcased on big screens during international football matches as part of the “Made in Bangladesh” branding initiative; BFF will promote BGMEA and the Bangladeshi garment sector at global football platforms; BGMEA will collaborate with partners to support BFF’s jersey requirements and contribute to designing national team kits and travel apparel in the future.

Besides, both organizations will jointly conduct awareness campaigns on child protection, women’s empowerment, and nutritional improvement, alongside efforts to involve workers’ children in grassroots football. BGMEA President Mahmud Hasan Khan expressed his gratitude to the BFF President for forging this partnership. He said, “The world knows Bangladesh today for the strength of its garment sector and our economic achievements. We dream of a day when Bangladesh will also be recognized globally for its excellence in football and sports. This collaboration between industry and sports will elevate Bangladesh’s image to new heights.”

BFF President Tabith Awal said the MoU would create a new path for the garment industry and football to work together for the nation. He sought BGMEA’s continued cooperation in taking football to the grassroots level. The welcome speech at the event was delivered by BGMEA Director Shah Raeed Chowdhury, whose dedicated efforts led to the signing of the MoU between BGMEA and BFF. Among others, BGMEA Senior Vice President, Vice President (Finance) Mizanur Rahman, and BFF Vice President Fahad Mohammad Ahmed Karim also addressed the ceremony.

The extension was finalized following the recommendation of the Shariah Advisory Committee (SAC), which operates under the Debt Management Department. The Government’s Cash and Debt Management Committee (CDMC) also provided its approval for the measure. With the extension, the new maturity date for the investment Sukuk is December 29, 2030. Supporting documentation necessary for the extended term was approved during an SAC meeting held today at the headquarters of the Bangladesh Bank.

The instrument is based on the lease method. For the utilization of the leased Sukuk assets during the extended period, the Government or Originator has committed to pay investors a total of Taka 3,804.00 crore as rent. This rent will be distributed to investors semi-annually at a proportionate rate. Based on calculation, the annual return rate is 9.51%, which is currently calculated at 4.69%.

While the Sukuk’s term has been extended, investors are provided with clear options regarding their holdings. Sukuk investors may hold the discussed Sukuk for the extended five-year period. Any investor who does not wish to continue their investment may cash out on the original maturity date, December 29, 2025. Investors who opt for the cash-out must submit an application through their respective banks. The application should be directed to the Special Purpose Vehicle (SPV), specifically the Islamic Securities Section, which falls under the Debt Management Department.  The circular noted that detailed procedures regarding the cash-out process will be conveyed to all relevant parties in due course.

Speaking briefly at the beginning of the programme, BGMEA President Mahmud Hasan Khan, former President Kazi Moniruzzaman and Director Dr. Rashid Ahmed Hossaini recalled the significant and uncompromising contributions of Begum Khaleda Zia to the country's democratic journey with profound respect. A special munajat was offered seeking her good health and quick recovery, which was led by Dr. Rashid Ahmed Hossaini. The gathering also offered prayers for the eternal peace of the late Annisul Huq-- former BGMEA President and former Mayor of Dhaka North City Corporation-to mark his death anniversary, which is also observed today.

As part of the visit, the delegation conducted the annual New Crop Seminar, led by Cereals Canada, where Bangladeshi millers, bakers and wheat importers received updates on Canada's 2025 wheat crop, including its quality characteristics and grading standards. These technical sessions were aimed at strengthening the long-standing trade relationship between the two countries and at supporting informed purchasing decisions within Bangladesh's rapidly expanding food processing and milling sectors.

"Bangladesh remains one of Canada's most important export destinations for high-quality wheat," the Canadian mission said, adding that Canadian wheat is highly valued by Bangladeshi millers for its consistency, reliability and superior performance. The High Commission noted that the quality of Canadian wheat is supported by world-leading scientific research, transparent regulatory oversight and a rigorous quality assurance system extending from production to shipment. Canada and Bangladesh share a longstanding partnership in the agriculture and food security sectors, which continues to grow through ongoing collaboration in the wheat trade, it added.

As Bangladesh's food industry continues to expand, Canada reaffirmed its commitment to remaining a reliable partner by providing consistent, high- quality wheat and supporting the technical expertise that enhances productivity, strengthens food security and contributes to economic growth.

The new bank was created under the provisions of the Bank Resolution Ordinance, 2025, as a mechanism to resolve five struggling Shariah-based banks. The five banks brought under resolution were EXIM Bank PLC, First Security Islami Bank PLC, Global Islami Bank PLC, Social Islami Bank PLC, and Union Bank PLC. The decision to establish ' Sommilito Islami Bank PLC' for the purpose of resolving these five struggling Shariah-based banks was made during an Advisory Council meeting held on October 9, 2025.  Following this decision, on November 5, 2025, Bangladesh Bank declared the five institutions non-viable under the Bank Resolution Ordinance, 2025, and appointed administrators.

Subsequently, Bangladesh Bank issued a Letter of Intent (LOI) along with a No-Objection Certificate for the proposed bank on November 9, 2025. The bank fulfilled the conditions of the LOI by registering with the Registrar of Joint Stock Companies and Firms. The determined paid-up capital for Sommilito Islami Bank PLC is Taka 35,000 crore. The government has already paid its portion of Taka 20,000 crore toward this capital.

Dr. Mohammad Ayub Mia, a former Secretary, has been appointed as the Chairman of the newly formed bank. Bangladesh Bank provided strong assurance to the people that depositors should feel completely confident about the security of their deposits and that they will not lose their money. Under the Deposit Protection Ordinance, 2025, deposits up to Taka two lakh are fully secured. For deposits exceeding Taka two lakh, payment will be supervised with maximum professionalism and efficiency, and will be repaid soon after the consolidation is complete. 

A specific repayment scheme will be published as soon as possible. The new bank is set to operate under the close supervision of Bangladesh Bank. The government and Bangladesh Bank are committed to restoring public confidence in the banking sector. Bangladesh Bank is hopeful that this merger will contribute to making the country's banking sector stronger, more sustainable, and inclusive. It is anticipated that the bank will prove its potential and capability as a dynamic, modern, and competitive Shariah-based bank within a short period.

A string of top Fed officials have lined up to back a third straight reduction, mostly saying that worries over a weakening labour market trumped still elevated inflation. Attention now turns to a range of data releases over the next week or so that could play a role in the bank's final decision, with private hiring, services activity and personal consumption expenditure -- the Fed's preferred gauge of inflation. With the government shutdown postponing or cancelling the release of some key data, closely watched non-farm payrolls figures are now due in mid-December, after the Fed's policy decision.

"This delay places much greater scrutiny on the latest November ADP (private) payrolls report," wrote Market Insights' Michael Hewson. He said there would likely be a Thanksgiving-linked spike in hiring "that is not entirely representative of recent slower trends in the US labour market". "While a big jump in payrolls in November could be construed as a positive signal for the US labour market it might not be enough to stop the Fed from cutting rates again with another close decision expected on 10th December," he added.

Markets see around an 85 percent chance of a cut next month and three more in 2026. With no catalyst from New York, Asia markets were mixed heading into the weekend. Hong Kong, Shanghai, Seoul and Jakarta fell, while Tokyo was marginally lower and Sydney, Singapore, Taipei and Wellington all edged into the green. The yen swung against the dollar after data showed inflation in Tokyo, seen as a bellwether for Japan, came in a little higher than expected, reigniting talk on whether the central bank will hike interest rates in the coming months.

The yen remains under pressure against the greenback amid concerns about Japan's fiscal outlook and pledges for more borrowing, but it has pulled back from the levels near 158 per dollar seen earlier this week.

- Key figures at around 0230 GMT -

Tokyo - Nikkei 225: FLAT at 50,144.76 (break)

Hong Kong - Hang Seng Index: DOWN 0.3 percent at 25,868.06

Shanghai - Composite: DOWN 0.1 percent at 3872.43

Euro/dollar: DOWN at $1.1586 from $1.1602 on Thursday

Pound/dollar: DOWN at $1.3230 from $1.3252

Dollar/yen: UP at 156.44 yen from 156.30 yen

Euro/pound: UP at 87.58 pence from 87.56 pence

West Texas Intermediate: UP 0.6 percent at $59.00 per barrel

Brent North Sea Crude: FLAT at $63.34 per barrel

New York - Dow: Closed for a public holiday

London - FTSE 100: FLAT at 9,693.93 (close)

The primary goal of the BGMEA Padel Cup is to strengthen the spiritual bond and inject new work enthusiasm among the members of the garment industry family. The Padel Cup is being organised under the special initiative and supervision of BGMEA Board Director Shah Raiid Chowdhury. During the opening ceremony, Inamul Haq Khan delivered the welcome speech, and Director Shah Raiid Chowdhury also addressed the attendees. 

Key individuals present on the stage included BGMEA Vice President Vidia Amrit Khan, different Directors, participating players, and the Managing Director of United Commercial Bank Ltd. The event was conducted by Md. Sajjad Ali Khan, chairman of the Sports Committee. The competition features participants from among BGMEA members and their family members. Players are competing in two distinct skill levels: Beginner and Advanced. Notably, six BGMEA Board Directors are participating as players: Shah Raiid Chowdhury, Nafis-Ud-Doula, Joardar Mohammad Hosne Komar Alam, Asef Kamal Pasha, Mohammad Sohail, and Sakif Ahmed Salam.

Following the inauguration, the thrilling group stage matches began. Teams that qualify from the group stages are scheduled to compete in the semi-finals and finals tomorrow.  A large number of general BGMEA members were present at the Padel Tennis Ground to enjoy the group stage matches. The participating entities span both the Beginner and Advanced categories, representing various prominent companies in the sector, including Nice Apparels Industries Ltd., Fashion Watch Ltd., Square Knit Composite PLC, Evitex Dress Shirt Ltd., and Cotonnex Fashions Ltd., among many others.

Market participants rely heavily on CME platforms to manage risk through futures contracts tied, for example, to stock indices, interest rates and currencies. The outage also froze pricing on the US benchmark crude contract, WTI, for several hours. "It's been a while since we've had such a long outage," said Neil Wilson, UK investor strategist at Saxo Markets. "Good news was it happened during the US holiday so there was not a lot of action and orders," he said.

With Wall Street closed Thursday for Thanksgiving and operating a half-day Friday, investors took a breather from AI-fuelled debates that had helped drive November trade. Without direction from New York, European and Asian markets moved with little conviction. London, Paris, Tokyo and Shanghai edged marginally higher, while Frankfurt and Hong Kong slipped. Focus this week has been firmly on growing expectations that the Federal Reserve will cut interest rates again next month.

A string of top Fed officials have backed a third straight reduction, mostly citing a weakening labour market despite elevated inflation. Attention now turns to a range of data releases over the next week or so that could play a role in the bank's final decision, with private hiring, services activity and personal consumption expenditure -- the Fed's preferred gauge of inflation. With the government shutdown postponing or cancelling the release of some key data, closely watched non-farm payrolls figures are now due in mid-December, after the Fed's policy decision.

Markets see around an 85 percent chance of a cut next month and three more in 2026. Meanwhile, the yen was erratic against the dollar after data showed inflation in Tokyo, seen as a bellwether for Japan, came in a little higher than expected, reigniting talk on whether the central bank will hike interest rates in the coming months. The Japanese unit remains under pressure against the greenback amid concerns about Japan's fiscal outlook and pledges for more borrowing.

- Key figures at around 1115 GMT -

London - FTSE 100: UP 0.1 percent at 9,699.71 points

Paris - CAC 40: UP 0.1 percent at 8,107.84

Frankfurt - DAX: DOWN 0.1 percent at 23,755.67

Tokyo - Nikkei 225: UP 0.2 percent at 50,253.91 (close)

Hong Kong - Hang Seng Index: DOWN 0.3 percent at 25,858.89 (close)

Shanghai - Composite: UP 0.3 percent at 3888.60 (close)

New York - Dow: Closed for a public holiday

Euro/dollar: DOWN at $1.1558 from $1.1602 on Thursday

Pound/dollar: DOWN at $1.3205 from $1.3252

Dollar/yen: DOWN at 156.26 yen from 156.30 yen

Euro/pound: DOWN at 87.54 pence from 87.56 pence

Brent North Sea Crude: DOWN 0.1 percent at $62.84 per barrel

West Texas Intermediate: UP 0.7 percent at $59.08 per barrel

Made by Japanese firm Science, the device is an update of a product displayed the last time Osaka hosted the event, in 1970. "Our (company) president was inspired by that as a 10-year-old boy at the time," Science spokeswoman Sachiko Maekura told AFP. The machine "not only washes your body but also your soul," she added, while also monitoring users' heartbeats and other vital signs.

After a US resort company contacted Science to see if the prototype would be commercialised, the firm decided to produce it for real. A hotel in Osaka bought the first machine and is preparing to offer the service to hotel guests, the spokeswoman said. Other customers include Yamada Denki, a major consumer electronics retail chain in Japan, which hopes the machine will draw people to visit its outlets, she said.

"Because part of the appeal of this machine is rarity, we plan to produce only about 50 units," Maekura said. Local media reported that the retail price will be 60 million yen ($385,000). 

According to the circular, managing directors, chief executive officers, and all other officials must refrain from traveling abroad. The restriction has allowed exceptions only in cases of absolute necessity or when the travel is deemed indispensable.

The restriction will remain in place until the end of the national election scheduled for February next year. The BB issued the directive in line with the Bank Company Act, 1991. It did not clarify what would constitute essential travel.

The Commerce Adviser said the government remains supportive of the private sector, but businesses must come forward with logical, acceptable and realistic proposals.  “Not just complaints—bring constructive proposals. The government is your facilitator. We are obliged to ensure your opportunities and support, but they must be based on fairness and responsible industrial practices,” he said.

Referring to the country’s evolving political and economic context, he noted that the era of “connection-dependent businesses” has ended. “Times have changed. Now success depends on skills, competence and technological capability,” he added. Raising the question of why the ceramics industry has not been able to grow into a major export earner despite its potential, he compared it with the remarkable rise of the apparel sector within just a decade. 

“Why is ceramics not reaching that level? Because, we still are facing challenges in sustainable cost competitiveness, design innovation, logistics efficiency, productivity and energy management. We must identify these issues and work towards practical solutions,” the Adviser stressed. The three-day expo, which began on 27 November, will continue until 30 November. The event is organized by the Bangladesh Ceramic Manufacturers and Exporters Association (BCMEA).

BCMEA President Moinul Islam chaired the ceremony, while the Ambassador of Italy to Bangladesh, Antonio Alessandro, EPB Vice-Chairman Mohammad Hasan Arif, and Expo Committee Chairman and BCMEA General Secretary Irfan Uddin delivered remarks as special guests. A total of 135 companies and 300 brands from 25 countries, along with 500 international delegates and buyers, are participating in the expo. 

Ceramic Expo Bangladesh 2025 is the country’s fourth and one of Asia’s largest international exhibitions in the sector. The event features three seminars, a job fair, B2B and B2C meetings, live demonstrations, spot orders, raffle draws and new product launches. Visitors can attend the fair every day from 10 a.m. to 6 p.m.

Bangladesh’s ceramics industry has grown significantly over the past decade. More than 70 factories are currently operating in tableware, tiles and sanitaryware production. The domestic market size has reached approximately Taka 8,000 crore annually. Production and investment in the sector have increased by nearly 150 percent over the last 10 years. Bangladeshi ceramic products are now being exported to more than 50 countries, generating around Taka 500 crore annually. Total investment in the sector has crossed Taka 18,000 crore, creating employment for nearly five lakh people directly and indirectly.

In the past, “window dressing” practices were used to make banks appear profitable. Encouragingly, deposit growth has reached double digits after 17 months—an achievement that can be considered a policy dividend. Sustaining this trend for five consecutive years could help offset losses from non-performing loans (NPLs). Dr. Monzur Hossain, Member (Secretary) of the General Economics Division (GED), Bangladesh Planning Commission, graced the session as the chief guest. In his address, he emphasized that “Investment depends on the overall economic ecosystem and cannot be revived overnight. 

He said the tight monetary policy should be relaxed moderately to encourage investment growth. “Although the government is not interfering with the central bank’s decision to maintain a high policy rate, it is worth asking how long such a stance can be sustained. Countries like Bangladesh must foster close coordination between monetary and fiscal authorities. Central bank independence remains essential, but the system as a whole must function effectively; otherwise, progress will remain limited.”

Dr. Zaidi Sattar, Chairman of PRI, chaired the event. In his opening remarks, Dr. Sattar highlighted that, “US-Bangladesh trade was determined in the past by competitive advantage driven by comparative advantage in a labor-intensive garment and other products.” Dr. Ashikur Rahman, Principal Economist at PRI, delivered the keynote presentation. 

He mentioned that political parties that aspire to represent a new brand of politics, anchored in good governance and social welfare, must insulate financial sector from their mischievous influence. “This is why it is imperative to ensure central bank independence, as we want to protect our financial assets from any future plundering,” He went on saying, “This is a critical agenda that will require commitment from both the Interim Government and the next elected political government - and it will determine if our economic stabilization process continues in the near future.”

The discussion featured insights from a distinguished panel comprising Dr. Bazlul Haque Khondker, Research Director at PRI; Dr. M. Masrur Reaz, Chairman and CEO of Policy Exchange of Bangladesh; and Tanjima Mostafa, Director of Meghna Group of Industries. The panelists examined the implications of global economic shifts, domestic investment trends, and structural reforms for Bangladesh’s medium-term outlook.

Dr. Khondker stressed that growth alone is insufficient to reduce poverty and inequality. With a tax-to-GDP ratio of only 6.6%, Bangladesh lags far behind peers, limiting fiscal capacity for social protection. Dr. Reaz cautioned that without new greenfield investments, job creation will remain constrained. He emphasized the need for institutional reform and better risk management in the banking sector. Joshua Gacutan, Second Secretary (Economic) and Deputy Head of Mission, Australian High Commission, commended PRI and DFAT’s partnership in promoting evidence-based dialogue on macroeconomic trends and policy reform.

PARK Young Sik, Ambassador of the Republic of Korea to Bangladesh, echoed the importance of central bank independence and tax reform in ensuring macroeconomic stability under the next government. Mr. Owais Perry, Country Economic Advisor, UNDP, emphasized that in developing countries, monetary policy alone cannot tame inflation—supply-side measures must play a stronger role.

Dr. Khurshid Alam, Executive Director, PRI, concluded by noting that while economic stabilization is underway, “True sustainability requires balancing growth with structural resilience. The recent rise in LC openings for capital machinery is encouraging—it signals renewed investor confidence in long-term prospects.”

Strengthening urban governance has become crucial as Bangladesh is experiencing rapid urban growth. In recent years, two key initiatives, JICA’s Capacity for Cities (C4C) program and SDC’s PRABRIDDHI: Local Economic Development (LED) project, have been working closely with the Local Government Division to support them in this work that is central to building cities that are smarter, more liveable, and better equipped to compete in future.

As both projects approach their final phase in December 2025, this workshop served as a vital platform for participants to share experiences, reflect on achievements, and explore future directions. The event brought together approximately 200 participants, including city leaders, government officials, private sector partners, academicians, and development partners, said a press release.

The program featured experience-sharing sessions, presentations from participating cities, and interactive discussions on budgeting, revenue generation, local economic development, citizen engagement, digital transformation, and performance metrics. An exhibition gallery was set up to display innovations and project outcomes for both projects.

In terms of the project activities, C4C has focused on governance and institutional capacity building of City Corporations, introducing modern management systems and tools to improve service delivery and accountability, measured by the annual City Governance Assessment (CGA). 

In the same way, PRABRIDDHI has focused on secondary city municipalities, championing local economic development, driving competitive business environments, and the integration of smart infrastructure, culminating in tools such as the Municipal Competitiveness Index (MCI).

By hosting this workshop, JICA and SDC, together with the government of Bangladesh and their partners, reaffirmed their shared commitment to supporting long-term urban development in line with national priorities and the Sustainable Development Goals (SDG), particularly Goals 9, 11, and 16.

The event concluded with a strong call to continue building smarter, stronger and more resilient cities through innovation and partnership across Bangladesh.

The Bangladesh side was headed by Secretary of the Power Division, Ministry of Power, Energy and Mineral Resources, Farzana Mamtaz while the Nepalese delegation led by Secretary of the Ministry of Energy, Water Resources and Irrigation, Chiranjeevi Chataut.   The JSC discussions were preceded by a Joint Working Group (JWG) meeting held yesterday, which examined the agenda items in detail and submitted recommendations for consideration by the steering committee.

The mission team inspected the ongoing development work in Satkhira district from November 22 to 24. On November 25, the team discussed the progress of the CRIM-CReLIC project with LGED Chief Engineer Javed Karim. The review mission also held discussions on the activities and future prospects of CRIM-CReLIC with the Local Government Division (LGD), Economic Relations Division (ERD) and the German Development Agency (GIZ) on November 26.

On November 27, KfW’s review mission concluded with an exchange of views with LGED officials and consultants on the progress, pending tasks and future plans of CRIM. LGED’s Additional Chief Engineer (Urban Management) and Additional Director of CRIM, Md Shahanur, were present. LGED was represented in the mission by CRIM Project Director Md Abdul Khalek; Executive Engineer of CRIM Md Latif Hossain; Senior Assistant Engineer Fatema Ismat Ara; Assistant Engineer Arpan Pal; and the concerned consultants.

Monday's buoyant session "ties back to the whole idea that the AI trade still has life in it," said Briefing.com analyst Patrick O'Hare. "The heart of the rebound we're seeing today" is because the market was "rethinking" its earlier skepticism on whether there would be another rate cut in December, he added. US equities had also enjoyed a solid session on Friday following comments from New York Fed President John Williams that signaled the central bank could cut interest rates in December.

On Monday, Federal Reserve Governor Christopher Waller told Fox Business that he was advocating for a rate cut next month, pointing to a "still weak" labor market. Major European markets were a little more cautious. Frankfurt closed 0.6 percent ahead after German business sentiment fell more than expected in November, the latest sign that industry is losing faith in the government's plans to revive the economy. London ended narrowly negative, while Paris closed down 0.3 percent. Earlier, Hong Kong closed up 2.0 percent and Tokyo was shut for a Japanese public holiday.

Wall Street indices have surged to multiple records in 2025 thanks in part to bullish sentiment about AI. The strong performance has also been supported by easing Fed policy and lately by the market's judgment that US President Donald Trump's tariffs have not had as much of a negative impact as initially feared. But recent weeks have nonetheless seen investors grow increasingly fearful that the vast sums pumped into tech may have been overdone and could take time to see profits realized, leading to warnings of a possible market correction.

That has been compounded by uncertainty over whether the Fed will cut rates for a third successive time next month, although the latest comments from central bankers boost those odds. Focus is now on the release this week of the US producer price index, one of the last major data points before officials gather, with other key reports postponed or missed because of the recent government shutdown. Trading volumes in New York are expected to be lighter than usual. The market will be closed for Thursday's Thanksgiving holiday, followed by a half session on Friday.

- Key figures at around 2115 GMT -

New York - Dow: UP 0.5 percent at 46,456.05 (close)

New York - S&P 500: UP 1.6 percent at 6,705.57 (close)

New York - Nasdaq Composite: UP 2.7 percent at 22,872.01 (close)

London - FTSE 100: DOWN 0.1 percent at 9,534.91 (close)

Paris - CAC 40: DOWN 0.3 percent at 7,959.67 (close)

Frankfurt - DAX: UP 0.6 percent at 23,239.18 (close)

Hong Kong - Hang Seng Index: UP 2.0 percent at 25,716.50 (close)

Shanghai - Composite: UP 0.1 percent at 3,836.77 (close)

Tokyo - Nikkei 225: Closed for a holiday

Euro/dollar: UP at $1.1523 from $1.1513 on Friday

Pound/dollar: UP at $1.3110 from $1.3099

Dollar/yen: UP at 156.81 yen from 156.41 yen

Euro/pound: UP at 87.91 pence from 87.89 pence

Brent North Sea Crude: UP 1.3 percent at $63.37 per barrel

West Texas Intermediate: UP 1.3 percent at $58.84 per barrel

The new research centre in Hefei is Volkswagen's only one dedicated exclusively to electric cars, the firm said, and it would also play a role in exports from China to South East Asia and the Middle East. "We are taking our development capabilities in China for China to the next level," Volkswagen China boss Ralf Brandstaetter said.

"We are strengthening our ability to respond quickly to local needs and to shape technologies directly where they will be used." German carmakers have come under intense pressure from local competitors in China in recent years, with worldwide sales and profits suffering amid their slump in China. Chinese carmakers last year held almost a 60 percent share of their domestic market, according to consultancy Jato Dynamics, up from 35 percent in 2019, and German rivals have responded by moving work over to China in a bid to learn from locals and better cater for Chinese customers.

Speaking at the Munich car show in September, Volkswagen CEO Oliver Blume told reporters that producing a majority of cars in Germany before exporting them all over the world "doesn't work anymore". "Therefore we decided with a clear China strategy, in China for China," he said. "This is our new strategy." Some aspects of model development can be done in China at half the cost of what it would take in Europe, Volkswagen said, and the new facilities in Hefei meant vehicle development times could be cut by up to 30 percent compared to Volkswagen's current Chinese development cycle.

"So I'm advocating for a rate cut at the next meeting." His comments echoed those of San Francisco Fed president Mary Daly, who told the Wall Street Journal: "On the labour market, I don't feel as confident we can get ahead of it." She added that the risk of a bust higher in inflation was a lower risk as the impact of US President Donald Trump's tariffs had been less than expected. New York Fed boss John Williams said Friday that he still sees "room for a further adjustment" at the bank's December 9-10 policy meeting.

Analysts pointed out that the lack of pushback from the Fed on the remarks suggested boss Jerome Powell backed them and was preparing for another cut. Traders now see about a 90 percent chance of a reduction, having been around 35 percent last week. The prospect of lower borrowing rates pushed Wall Street sharply higher for a second successive day Monday, with the S&P 500 up around 1.6 percent. The Nasdaq charged 2.7 percent higher thanks to a surge in market heavyweights including Alphabet, Meta and Amazon. And the gains continued in Asia, which built on a strong Monday.

Hong Kong, Shanghai, Seoul, Taipei, Manila and Jakarta all rallied, though there were pullbacks in Sydney, Singapore and Wellington. Tech firms have enjoyed a revival after suffering a period of selling in recent weeks, owing to concerns that the AI-led splurge this year may have pushed valuations too far and the huge investments made in the sector could take time to come to fruition. While there is debate about whether the advance has more legs, observers say the outlook is more nuanced.

"AI remains one of the most powerful forces reshaping markets, but the tone is changing," wrote Saxo Markets' Charu Chanana. "Strong earnings from leading chipmakers... reassure investors that demand is real, yet the sharp swings in market reaction show that enthusiasm now sits alongside questions around sustainability, profitability, and execution. "The broad 'everything goes up' phase of the AI trade is fading. What replaces it is a more nuanced market: one that rewards fundamentals over narratives."

She added that investors now had to "separate the durable players from those caught up in the momentum". Sentiment was also given a lift after Trump praised "extremely strong" US-China relations following a call with his Chinese counterpart Xi Jinping. He also said he will visit China in April and that Xi will make a trip to Washington later in 2026. However, he made no mention of the fact that they had spoken about the ever-sensitive issue of Taiwan. China's foreign ministry said Trump had told Xi the United States "understands how important the Taiwan question is to China".

- Key figures at around 0230 GMT -

Tokyo - Nikkei 225: UP 0.4 percent at 48,815.27 (break)

Hong Kong - Hang Seng Index: UP 1.2 percent at 26,031.67

Shanghai - Composite: UP 1.1 percent at 3,877.86

Euro/dollar: UP at $1.1526 from $1.1523 on Monday

Pound/dollar: DOWN at $1.3109 from $1.3110

Dollar/yen: DOWN at 156.68 yen from 156.81 yen

Euro/pound: UP at 87.92 pence from 87.91 pence

West Texas Intermediate: DOWN 0.2 percent at $58.73 per barrel

Brent North Sea Crude: DOWN 0.2 percent at $63.23 per barrel

New York - Dow: UP 0.4 percent at 46,448.27 (close)

London - FTSE 100: DOWN 0.1 percent at 9,534.91 (close)

The meeting was chaired by BSEC Chairman Khondoker Rashed Maqsood. The institutions benefiting from this time extension include a mix of stock broker-dealers and merchant banks. According to a BSEC notification, the extension was granted after the commission reviewed and considered the action plan submitted by these institutions regarding the provisioning and adjustment of their negative equity and unrealized losses.

The eight institutions are: City Brokerage Limited, One Securities Limited, Standard Bank Securities, BD Sunlife Securities Limited, IFI C Securities, Apex Investments Limited, Abasi Investment Limited, and Sonali Investment PLC. This latest regulatory action highlighted a continuing trend of financial stress among capital market intermediaries. This extension follows a similar decision made by the BSEC earlier in November. 

At the 984th Commission meeting on November 14, the BSEC had already granted a conditional time extension to 28 other institutions facing issues related to negative equity and insufficient provision coverage for unrealized losses. Collectively, these two recent commission meetings have addressed provision deficiencies and financial distress among at least 36 intermediary institutions operating in the capital market, offering them conditional regulatory forbearance to remedy their financial deficits.

The delegation briefed the envoy on their recent business visit to Bangladesh. The delegation praised Bangladesh's infrastructural development and expressed interest in investing in promising sectors of the country. The Ambassador highlighted Bangladesh's export potential beyond readymade garments, noting that Bangladesh is a strong source of frozen fish, vegetables, processed foods, leather goods, handicrafts and other products. 

He also outlined the government's initiatives to expand trade, Bangladesh's comparative advantages, and its growing capabilities in the IT sector. He further requested AEON to include more Bangladeshi students under its scholarship programme and to employ Bangladeshi workers across its outlets in Japan.

The renewed collaboration underscored the shared vision of promoting excellence, integrity, and innovation across the profession.  During the meeting, both Institutes discussed several key areas shaping the future of public finance, including expanding pathways into the profession through enhanced education and training and facilitate membership recognition; the evolving intersection of the public and private sectors, including the role of state-owned enterprises; to jointly work for development of PSFM areas in Bangladesh and forensic accounting and initiatives aimed at preventing corruption. 

ICAB President NKA Mobin FCA, Vice Presidents Suraiya Zannath FCA and Md. Rokonuzzaman FCA, and Chief Operating Officer Mahbub Ahmed Siddique FCA represented ICAB at the event. CIPFA CEO Owen Mapley, Chief Operating Officer Anna Blackman, Senior Lead – International Partnership Steve Watkin, and Head of Qualification and Membership Anna Howard welcomed the ICAB delegation and actively took part in the discussion.

He mentioned that Canada is the 20th largest FDI Source of Bangladesh and total FDI stock from Canada to Bangladesh recorded $132.83 million.  The acting president noted that there is an ample opportunity for Canadian businesses to invest in Bangladesh, particularly in sectors like renewable energy, green technology, waste management, automotive components, education, healthcare, medical equipment, financial services, IT & digital infrastructure, smart logistics, warehousing and cold chain systems. 

He also mentioned that Canada can source leather and leather products, Jute and Jute products, handicrafts, bi-cycle, high-end RMG, ceramics, furniture, pharmaceuticals, processed & frozen food, software, BPO services from Bangladesh. Canadian Senior Assistant Deputy Minister (International Trade) Sara Wilshaw said companies in Canada are mostly of SMEs. “Almost 75% of Canadian exports and most of the FDI from Canada go to the USA. On the other hand Canada receives most of the FDI from the USA. But at the same time, it is also important to diversify exports, export market, products to compete in the international market. Canada is good at educational sector and a lot of students from Bangladesh study in Canada,” she added. 

She also said that in the education and skill development sector both countries have equal opportunities to work together.  She mentioned that Canada has a commendable strength in automotive industry as well as in the food processing industry.  She noted that Canada wants to facilitate Bangladesh to be more competitive globally in terms of enhancing supply chain ecosystem. 

The Canadian automotive sector is now looking for new market diversification, in that case Bangladesh could be a great market, she added.  Ajit Singh said that to strengthen the contact between the businesses, chamber to chamber relation is more important. He said the private sector of Bangladesh is engine of growth of this country and Canada is very much interested to boost its trade with Bangladesh. 

“We would like to work in the skills training, technical assistance, vocational training, nursing, agro-tech industry, ease of doing business development side in Bangladesh” he told. Later, he said that there are huge opportunities to strengthen the bilateral trade relation to a new height in the days to come.   

DCCI Vice President Md. Salim Sulaiman, Members of the Board of Directors and Counsellor and Senior Trade Commissioner, High Commission of Canada Debra Boyce, among others, were also present during the meeting. 

This year, online filing of income tax returns has been made mandatory for all categories of individual taxpayers except senior citizens aged 65 years or above, physically disabled or specially-abled taxpayers, Bangladeshi taxpayers residing abroad, legal representatives filing on behalf of deceased taxpayers, and foreign nationals working in Bangladesh. Although several categories have been exempted from mandatory online filing, they may still file e-returns voluntarily if they wish, said an NBR press release.

Authorized representatives of taxpayers are also allowed to submit e-returns online this year. For Bangladeshi taxpayers residing abroad, online filing is not mandatory; however, they may register in the e-return system and file online by sending information such as passport number, NID number, and email address to ereturn@etaxnbr.gov.bd. Upon application, OTP and registration links are sent to their email, enabling them to register and file returns online easily. Without uploading any documents, taxpayers can enter accurate information on income, expenditure, assets, and liabilities in the e-return system, pay taxes online using debit card, credit card, internet banking or mobile financial services (bKash, Nagad, etc.), and submit the e-return from home. 

They can instantly download the automated acknowledgement slip and tax certificate, making e-return filing increasingly popular among taxpayers both at home and abroad. To make the online filing process easier, NBR has provided training this year as it did last year. Besides general taxpayers, authorized representatives such as income tax lawyers, chartered accountants, cost and management accountants, and chartered secretaries have been trained on e-return filing procedures.

For any e-return related issues, NBR has established a call center. Taxpayers can receive instant telephone assistance by calling 09643 71 71 71. Additionally, taxpayers can report issues through the eTax Service option on www.etaxnbr.gov.bd and receive solutions. Help desks at all tax zones across the country provide in-person and telephone support during office hours. The NBR also urged all individual taxpayers to file their income tax returns for tax year 2025–26 using the e-return system by December 31, 2025. As of now, more than 1.8 million taxpayers have filed e-returns this year.

Since a large number of employees work in garment factories, it is very important to strengthen the structural safety of factory buildings, the BGMEA suggested.  There are many types of machines in factory buildings that generate continuous vibrations while some sensitive places inside the units like elevators, boilers, generators, sub-stations, if damaged, can cause serious accidents at any time, it said.

As a result, a large number of workers may be injured, the BGMEA said, recommending immediate inspection of factories by structural or civil engineer to assess buildings for any cracks or other structural flaws to protect the buildings from aftershock or subsequent earthquake damage. It also advised inspecting elevators, boiler rooms, generator rooms, substations by qualified engineers.

An earthquake, measuring 5.7 on the Richter scale, shook Bangladesh on Friday morning. The country experienced another earthquake on Saturday evening at around 6:06 pm with 3.7 magnitude on the Richter scale after another tremor was felt at 10:36 am, measuring 3.3 on the Richter scale. 

State Secretary of the Trade and Investment of the Ministry of Foreign Affairs of Denmark Lina Gandlose Hansen and Ambassador of the Embassy of Denmark Christian Brix Moller were present as special guests. Chief Executive Officers of the PPP Authority Chowdhury Ashik Mahmud Bin Harun presided over the signing ceremony. In his speech, Sakhawat Hussain said the investment is expected to significantly boost employment, particularly for the youth. "Once the project is complete, many young generations, particularly the educated youth of Bangladesh, will get jobs," he added.

He highlighted the presence of a skilled workforce domestically, noting that the hardworking people of Bangladesh often work outside the country in Europe and America. He stressed the desire to use this skilled workforce within Bangladesh. Acknowledging that investment has historically been low in Bangladesh, Sakawat described the agreement as a new journey. He used the platform to extend an invitation to other nations, stating "I'm inviting other countries as well to invest in Bangladesh". He further asserted that Bangladesh is the most reliable investment area, attributing this reliability to the country's hardworking populace.

Sakawat concluded with the hope that this major inter-governmental contribution would eliminate any existing doubts about the project's benefit to the nation and the country. Brix Moller highlighted the nation's efforts to rebuild and strengthen, positioning it as a key focus for future investment and sustainable collaboration. He extended congratulations to Bangladesh and to all businesses involved in the historic agreement.  "The investment commitment, described as being by Danish investment, is intended to play a critical role in Bangladesh's development by sharing knowledge, expertise, and know-how, leveraging Denmark's status as a global leader in efficiency," he added.

The envoy emphasized that this specific project serves as conclusive proof that Bangladesh and Denmark are now strong partners in sustainable growth.  Historically, Denmark has been deeply committed to working with Bangladesh, unlocking immense potential, he added. In fact, he said, over the past 50 years, Bangladesh has been Denmark's second largest development partner globally. He concluded his speech on an optimistic note, confirming that there are more projects in the pipeline and expressing enthusiasm for continuing the excellent collaboration and partnership. The event served as a celebration of commitment, deep friendship, and strong partnership between the two nations, he added.

Lina Gandlose Hansen emphasized that the success of this project is a testament to the unwavering dedication and commitment of all stakeholders involved. She painted a vision of the future where ports are not merely infrastructures but ecosystems of people and purpose, imagining a facility where ships dock smoothly, goods move quickly, and workers operate in safer and smarter conditions. She noted that this partnership, connecting Denmark to Japan and Copenhagen to Chittagong, is linked by trade, water, and an aligned vision. The State Secretary underscored Bangladesh's remarkable development over the last 54 years. 

"The nation is projected to become among the largest 30 economies globally by 2030. Furthermore, Bangladesh's RMG (Ready-Made Garments) export is already the second largest in the world, with enormous potential visible in other sectors," she added. According to the CPA, the ownership of the port will continue with CPA, while APM Terminals & a local JV partner will only be responsible for construction, operations, and management. This will reduce the capital expenditure burden for Bangladesh government. 

APM Terminals B.V. is wholly owned by A.P. Moller - Maersk, headquartered in Denmark. It is one of the world's leading terminal operators (more than 60 terminals in 33 countries), operating terminals in 10 of the world's Top 20 best-performing container ports (World Bank, 2024). With extensive global experience across the world including East and South Asia (example: China, Singapore, Sri Lanka, Vietnam, and Malaysia), the Laldia project will introduce world class technology and operational excellence to Bangladesh, helping make the country's logistics sector futureready in the post-LDC era.

The newest green port will accommodate large container vessels (2x vs current size), reduce per-unit freight cost and enable direct shipping connectivity worldwide. Developed under a revenue-sharing concession model, the project will generate a stable foreign-currency income stream for Bangladesh while minimizing public capital expenditure. 

Along with that 24/7 port operations with night navigation capabilities for ships with permissible length and draught will be enabled for the first time in Bangladesh. Under the Concession agreement, APM Terminals B.V. will bring in Foreign Direct Investments (FDI)'s for an expected amount of about US $550 million via construction of a greenfield port terminal in Laldia, Chittagong.  This will be the single largest European equity investment in Bangladesh to date. A marquee global investor such as APM Terminals entering the port sector also signals confidence to other international financers, crowding-in additional FDI to logistics, manufacturing, and ancillary services.

Stocks have enjoyed a healthy rally since their tariff-fuelled swoon in April, with tech firms leading the way as companies pumped eye-watering amounts of cash into all things linked to artificial intelligence. That has been compounded by a weakening US jobs market that has fanned expectations the Fed will cut rates. However, the gains have petered out in recent weeks as investors re-evaluate those two pillars. Fed boss Jerome Powell said a third-straight reduction in borrowing costs was not certain next month, while other officials have hinted they intend to stand pat.

The decision makers said they were concerned that inflation remained stubbornly anchored above the bank's two percent target, overshadowing labour market fears. Traders are keenly awaiting the release of several reports -- including on jobs and inflation -- that had been held up by the record government shutdown that ended last week. The winding back of rate cut bets comes amid growing unease about the sky-high valuations in the tech sector and warnings that a bubble has formed that could soon burst.

All eyes are on this week's release of earnings from chip titan Nvidia, which this month became the first $5 trillion company. "Nvidia has been partly responsible for powering the AI rally, but is now facing pressure amid concerns about stretched valuations in the sector," wrote Fiona Cincotta, senior market analyst at City Index. "Worries about an AI bubble have weighed on the sector, and investors are questioning not only the amount of money companies are spending on the tech relative to the returns they're seeing, but also the circular nature of the spending."

After a tepid lead from Wall Street, Asian markets fluctuated. Hong Kong, Shanghai and Singapore all dropped, though Seoul, Manila, Bangkok, Wellington and Taipei advanced. Sydney was barely moved. Tokyo also sank as figures showed Japan's economy shrank 0.4 percent in the three months to September. Tourism and retail firms were among the worst hit after China advised its citizens not to travel to Japan amid a diplomatic spat over comments by Prime Minister Sanae Takaichi about Taiwan.

Cosmetics firm Shiseido dived more than nine percent, department store group Takashimaya nearly six five percent and Fast Retailing -- the owner of Uniqlo -- shed 4.8 percent. Department store group Mitsukoshi fell 11.3 percent and Pan Pacific, behind discount retail chain and tourist magnet Don Quijote, slid 5.3 percent. Japan Airlines gave up 3.4 percent. China is the biggest source of tourists to Japan.

Takaichi's comments earlier this month were widely interpreted as implying an attack on Taiwan could warrant Tokyo's military support. If a Taiwan emergency entails "battleships and the use of force, then that could constitute a situation threatening the survival (of Japan), any way you slice it", she told parliament. The two sides last week summoned each other's ambassadors, with China then telling its citizens to avoid travelling to Japan.

Bitcoin was also suffering from the uncertain climate on trading floors, with the digital unit briefly dropping to $92,935.51 -- below the $93,714 mark it finished at on December 31 -- according to Bloomberg data. It bounced back slightly in the afternoon to sit above $95,000. The cryptocurrency hit a peak of $126,251 on October 6. Investors spend most of the year piling into bitcoin after Donald Trump returned to the White House pledging to deregulate the crypto sector.

The president's embrace of digital assets has reversed years of US government scepticism towards the industry, with the US House of Representatives passing three landmark cryptocurrency bills in July.

- Key figures at around 0705 GMT -

Tokyo - Nikkei 225: DOWN 0.1 percent at 50,323.91 (close)

Hong Kong - Hang Seng Index: DOWN 1.0 percent at 26,312.44

Shanghai - Composite: DOWN 0.5 percent at 3,972.03 (close)

Dollar/yen: UP at 154.68 yen from 154.55 yen on Friday

Euro/dollar: DOWN at $1.1603 from $1.1621

Pound/dollar: DOWN at $1.3148 from $1.3171

Euro/pound: UP at 88.26 pence from 88.22 pence

West Texas Intermediate: DOWN 1.1 percent at $59.46 per barrel

Brent North Sea Crude: DOWN 1.0 percent at $63.78 per barrel

New York - Dow: DOWN 0.7 percent at 47,147.48 (close)

US President Donald Trump stunned Switzerland in August when he slapped an added 39-percent duty on imports of goods from the country, among the highest in his global tariff campaign. But this now looks to be reversed. The US and Switzerland said on Friday they had reached an agreement to sharply lower the tariffs, with the Alpine nation vowing to invest $200 billion in the US to win over the White House. The latest framework agreement brings this tariff down to 15 percent for Switzerland's products, the White House said.

The deal will alleviate fears, including in the country's famed watch industry and machine tool sector, of any lasting impact of the devastating tariff hike. Switzerland had last month warned of an economic slowdown in 2026, partly sparked by the high tariffs. Watch exports spiked in July before the higher tariffs entered into force but then fell by 23.9 percent in August and 55.6 percent in September, according to the country's watchmakers' association.

Employer federation Swissmem last week reported an overall 14.2-percent drop of Swiss exports to the US in the third quarter compared to the period a year earlier. The association said it was "relieved" following Friday's deal, although the strength of the Swiss franc against the dollar was still a worry as it makes Swiss products more expensive for American consumers. "The good news from the US tariffs was counterbalanced by the franc's persistent strength," commented Ipek Ozkardeskaya, senior analyst at Swissquote, a currency trading firm. "The strong franc sure sounds like a first world problem -- and it is -- but it has concrete implications for businesses," she said.

Market analysts observed that market indices maintained an upward trajectory throughout the session, with most scrips managing to recover part of their earlier losses. Moreover, investor sentiment was also somewhat influenced by market-wide rumors over a favorable outcome in the ongoing legal proceedings related to the court’s ruling on the newly enacted margin rules, they added.  Meanwhile, the Dhaka bourse observed a slight increase in participation, as total turnover rose by 16.8% to Taka 3.5 billion from Taka 3.0 billion in the previous session. On the sectoral front, Pharma (14.5%) issues exerted the highest turnover, followed by Engineering (12.5%) and Bank (9.9%) sectors.

Almost all the sectors displayed positive returns, out of which IT (4.1%), Mutual Fund (3.7%) and Life Insurance (3.0%) exhibited the most positive returns on the bourse today, while only Cement (-0.5%) exerted some corrections. Out of the 397 issues traded, 321 advanced, 30 declined and 46 remained unchanged. The port city bourse, CSE, also settled on a positive zone. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) advanced by 19.0 points and 41.7 points, respectively.

This clarification is intended to ensure precision in calculating the cash assistance payment, the circular added. All concerned parties involved in the export and payment process have been advised to take note of this clarification. The move is part of the government's effort to streamline the calculation of financial support provided to exporters of these vital commodities.

Salehuddin Ahmed pointed to concrete signs of positive momentum, highlighting improvement in both reserves and exports. Despite acknowledging existing domestic challenges, he said that Bangladesh holds a largely positive perception internationally.  Major global institutions recognize the work being done by the country and acknowledge its progress, he added. Looking ahead, the finance adviser called for fiscal prudence and accountability, referencing past expenditures on mega projects. 

He remarked that some projects have become monuments, consuming hundreds of crores of Taka but yielding limited practical benefits.  He said that lessons must be learned from these experiences, urging for greater accountability and restraint in future projects.  The adviser stated, "The coming months are crucial. A key responsibility is to refine and coordinate existing structures so they can be handed over to the incoming government, enabling them to be advanced more modernly and effectively."

Saying that national development cannot be restricted solely to the economy, Dr. Ahmed emphasized that people require more than just food and basic sustenance. "Crucial components for comprehensive development include education, health, and social security. Focusing on these areas is imperative to make Bangladesh a happier and more developed nation," he added. The adviser, however, called for the importance of journalistic responsibility and encouraged journalists to conduct investigative reporting to uncover deep truths and to engage in constructive criticism, pointing out flaws. 

Dr Ahmed reassured the audience that the country is progressing and is expected to advance even faster in the future. Chairman of the Management Board BPO-Nagad Kaiser A. Chowdhury attended the function as the special guest while Dhaka Reporters Unity President Abu Saleh Akon and its General Secretary Mynul Hasan Sohel spoke.

Federal judge Sean Lane said in a New York court that he would sign off on the company Chapter 11 plan, with a formal ruling expected at a hearing on Tuesday. "Today cements the end of a long chapter, and brings us very near to the end of the book for Purdue," board chairman Steve Miller said in a statement. "Soon, Purdue will cease to exist." "We will now commence the process of satisfying all outstanding requirements for Purdue to emerge from bankruptcy so that resources from the settlements can flow to communities across America as quickly as possible," he said.

The Sacklers will pay $6.5-7.0 billion while the company will pay $900 million. A separate fund of $865 million will be created to compensate victims. The remnants of Purdue will become Knoa Pharma, a company owned by a foundation, that will provide opioid use disorder treatments and overdose reversal medicines, "with no obligation to maximize profits," the company said. For many people, opioid addiction begins with prescribed pain pills, such as OxyContin, before they increase their consumption and eventually turn to illicit drugs such as heroin and fentanyl, an extremely powerful synthetic opioid.

The Sacklers have consistently denied wrongdoing over the opioid crisis. The company statement says the family "have had no involvement in Purdue since the end of 2018," while officials said the January settlement had ended the Sacklers' control of Purdue Pharma. 

An Alibaba Group spokesperson told AFP "the assertions and innuendos in the article are completely false". The Hangzhou-based firm called the memo a "malicious PR operation (that) clearly came from a rogue voice looking to undermine President Trump's recent trade deal with China". The dispute highlights persisting suspicions between Beijing and Washington, which are locked in competition for technological superiority.

Since returning to office in January, US President Donald Trump has reignited a fierce trade war with China. After months of tit-for-tat tariffs, he and counterpart Xi Jinping agreed to a one-year truce late last month. A spokesman for China's embassy in the United States also denied the reported memo's claims. "The Chinese government... will never require companies or individuals to collect or provide data located in foreign countries in violation of local laws," said Liu Pengyu in a statement on X. The report adds to growing concern in Washington about China's potential use of advanced technology to spy.

On Thursday, California-based artificial intelligence firm Anthropic said it had detected and disrupted what it described as the first documented cyber-espionage campaign conducted largely autonomously by AI. The activities were attributed to a "Chinese state-sponsored group" designated as GTG-1002, Anthropic said. Asked about the report at a news conference on Friday, Chinese foreign ministry spokesman Lin Jian said he was "not familiar with the specifics", adding that Beijing had consistently fought hacking activities.

A visit to the Hili Land Port market on Saturday afternoon revealed a noticeable improvement in the supply of domestic onions, which is contributing to the declining prices. Traders said that the increased availability of onions has helped stabilize the market, with some predicting that the prices may drop further if the supply from India continues. Ali, a regular buyer in Hili market, Onion prices have increased... just last week, I bought onions for around Taka 60 to 65 per kg, but the price suddenly shot up to Taka 100. Since the government allowed imports, the price has fallen again by Taka 20 per kg. I hope it stays affordable for the customers."

Shoppers are calling for more stability in prices, as the sudden swings in onion costs have made it difficult for them to plan their purchases. Golam Mustafa, an onion seller in Hili Bazar, explained that the price hike was primarily due to a sudden decrease in the supply of domestic onions towards the end of the local harvest season.  "A few days ago, the price of onions increased by Taka 10 to 15 per kg, and I was selling onions at Taka 100 per kg. After the government's import decision, prices have begun to drop," Mustafa said.

He added that this reduction in prices has been a relief to both sellers and buyers, and they hope the trend will continue with the expected influx of imported onions. Shakhawat Hossain Shilpi, president of the Hili Land Port Importers-Exporters Association, confirmed that some importers have already opened Letters of Credit (LCs) to bring onions from India.  "We expect the imported onions to arrive at Hili land port in the next two to three days, which will further ease the pressure on the local market," Shilpi said.

The arrival of imported onions is anticipated to bring much-needed relief to consumers, particularly as the prices of domestic onions fluctuate during the end of the local season. As the situation unfolds, both buyers and sellers in the region are keeping a close eye on the supply dynamics, with hopes that the government's move to allow onion imports will provide long-term stability to the market.

Sixteen representatives, comprising BCI members and delegates from various institutions, participated in the training. During the discussions, BCI Director Md. Jahangir Alam reiterated the view that Bangladesh is poised for new possibilities in the global economy. He emphasized that a business environment reliant on prudence, good governance, efficiency, and fair competition will be instrumental in building a strong future Bangladesh. Dr. Delowar Hossain Raja said bin his introductory remarks that the BCI regularly organizes training programs focusing on critical laws and policies related to national industrialization, foreign trade, and business, emphasizing that this specific workshop is part of that ongoing continuity.

In the first session, Md. Khaled Abu Naser detailed strategies for ‘Ensuring Fair Competition in Business’.  His topics included fair competition, the prevention of the misuse of a dominant market position, anti-competitive behaviours, and the prevention of cartels and illogical pricing practices. Naser also highlighted the importance of governance and shared international experiences regarding these issues. Crucially, Naser underscored the necessity of implementing the Competition Act, rigorous market monitoring, and ensuring ethical business conduct to elevate Bangladesh’s business environment to meet international standards. He also pointed out the active role customers must play in this effort. 

The second session focused on international trade frameworks. Md. Hafizur Rahman addressed ‘WTO Rules and Trade Challenges for Bangladesh’.He elaborated on important rules and regulations concerning WTO Goods, Services, and Intellectual Property. Furthermore, Rahman highlighted the type of impact these WTO rules might have on Bangladesh following its graduation from Least Developed Country (LDC) status. The workshop concluded with participants sharing their feedback, and BCI Director Dr. Delowar Hossain Raja distributed certificates to all attendees.

By cutting trade costs, he said, the WTO’s agreement on trade facilitation helps Bangladesh's exporters access new markets. To ensure effective implementation, he mentioned that WTO members established the Trade Facilitation Agreement Facility (TFAF). Xiangchen Zhang stated that the TFAF plays a vital role in supporting developing economies, including LDCs like Bangladesh, by helping them better access development partner support and assisting development partners in targeting their aid for ongoing TFA implementation needs.

“Specific support has already been provided, with the Global Alliance on Trade Facilitation and the World Bank Group offering assistance to Bangladesh for implementing the TFA,” he added.  Furthermore, he said, developing and LDC members can apply for grants ranging from US$ 30,000 to $ 200,000 under the TFAF grant programme for capacity building measures, particularly when assistance from other development partners is unavailable. Regarding the enhancing SPS capacity and market access, Xiangchen Zhang said, WTO offers many options to help developing members, including LDCs, strengthen their capacity in implementing the SPS agreement.

“They range from using e-Ping system to keep abreast of the changes in SPS requirements to Transparency Champion Trainings to demand-driven in country trainings to help address implementation challenges,” he added. Last year, he said, WTO Members adopted a declaration on special and differential treatment provisions in SPS and Technical Barriers to Trade (TBT) agreements.  “It ensures that developing countries, including LDCs, get timely help when standards or technical regulations are being put in place by Members so that they have an opportunity to shape them,” he added. 

In addition, he said, the Standards and Trade Development Facility (STDF) helps address particular SPS needs of developing countries, including LDCs. For example, he mentioned that Bangladesh has been working with the STDF to build trade capacity of small-scale shrimp farmers, to promote biopesticides, to boost see trade and to improve the implementation of SPS best practices for export-oriented vegetables.  Bangladesh's participation in the WTO-TFA and SPS  agreements involves implementing trade procedures to simplify trade, enhance transparency, and improve border compliance, while also managing regulations to protect human, animal, and plant life and health. The country is working to implement TFA to boost its export competitiveness and has established an SPS Information Management System to provide a one-stop source for SPS-related information for both exporters and importers.

The first shipment of 56,959 metric tons arrived on October 25, 2025, followed by the second consignment of 60,802 metric tons on November 3, 2025.  With today's delivery, the total quantity of wheat received so far stands at 1,78,636 metric tons. Sample testing of the wheat on board has already begun and preparations are underway for its prompt unloading once testing is completed.

Leaders are targeting overall growth in 2025 of five percent, a goal experts say remains within reach despite an apparent slowdown in the latter half of the year. "External instability and uncertainty factors remain numerous, domestic structural adjustment pressures are significant, and the stable operation of the economy faces many challenges," Fu Linghui, chief economist at the National Bureau of Statistics (NBS), told a news conference Friday. Retail sales rose 2.9 percent on-year last month, data from the NBS showed, slightly lower than the three percent increase recorded in September.

The figure marked the fifth straight month of slowing growth since the peak of 6.4 percent reached in May. The slower spending last month came as Beijing and Washington worked to ease a damaging trade war, with presidents Donald Trump and Xi Jinping agreeing at an October 30 meeting in South Korea to a one-year truce. China's exports have largely remained resilient this year despite Washington's tariffs, with a decline in shipments to the United States offset by increases elsewhere, particularly Southeast Asia.

But spurring activity in the domestic economy has been more challenging. At a key gathering of the ruling Communist Party last month focused on economic planning, leaders said the country must "vigorously boost consumption". Moody's Ratings warned in a report this week that China's "domestic demand may be slow to revive". After last month's meeting, priorities are "accelerating innovation in strategic technologies and reinforcing domestic demand through structural improvements in income distribution and social safety nets", the report said.

NBS data also showed factory activity in October fell short of expectations. Industrial production rose 4.9 percent year-on-year, lower than a Bloomberg forecast of 5.5 percent and the slowest increase since August last year. "A key drag came from weaker external demand -- export values and industrial sales for export both weakened significantly," Zichun Huang of Capital Economics said in a note about Friday's data.

"We expect the economy to remain weak over the coming quarter," she wrote, adding that Beijing's recent trade truce with Washington "is unlikely to provide much relief". China's real estate sector has been mired in a debt crisis since 2020, having enjoyed a decades-long construction boom powered by rapid urbanisation and rising living standards. Friday data showed home values -- a key store of wealth for Chinese households -- continued to decline.

Prices for new residential properties fell year-on-year in October in 61 out of 70 major cities surveyed by the NBS. In another worrying sign for policymakers, fixed-asset investment in the January-October period was down 1.7 percent year-on-year. The indicator slipped into negative territory in September, falling 0.5 percent year-on-year. The latest drop "reflects the weak property sector investment as well as lacklustre infrastructure investment", wrote Zhiwei Zhang, president and chief economist at Pinpoint Asset Management, in a note.

Zhang added that because China appears to be "on track" to achieve the five percent annual growth target, stimulus measures before the end of the year are not expected.

Modelled on the UN's Intergovernmental Panel on Climate Change (IPCC), it would analyse all aspects of inequality -- from land ownership to tax avoidance -- and seek to inform policymaking. In an open letter published on Friday, the experts -- also including Nobel laureate Daron Acemoglu, France's Thomas Piketty, and former US treasury secretary and former Federal Reserve chair Janet Yellen -- backed the idea.

"We are profoundly concerned... that extreme concentrations of wealth translate into undemocratic concentrations of power, unravelling trust in our societies and polarising our politics," they said. The Stiglitz report found that the world's richest one percent captured 41 percent of all new wealth between 2000 and 2024. In contrast, just one percent went to the poorest 50 percent, according to data from the World Inequality Lab. "Inequality is not inevitable; it is a policy choice," the letter said.

"Clear and proven steps can be taken to reduce it and build more equal societies and economies," they said, adding that experts stood ready to volunteer their time, as many do with the IPCC. South Africa, which will host the G20 leaders' summit in Johannesburg on Nov 22-23 -- the first ever held in Africa -- has made tackling economic inequality a central theme of its presidency. It is unclear whether the resolution will be adopted, as the G20 is not a treaty-based organisation like the United Nations and has no legal charter or constitution, functioning instead as an informal forum that operates by consensus.

Members are split over a range of policy issues, and the group's richest member, the United States, has said it will boycott the Johannesburg summit, accusing South Africa's agenda of being anti-American. Founded in 1999, the group brings together 19 countries plus the European Union and the African Union, representing about 85 percent of global GDP and roughly two-thirds of the world's population. 

Delta Life Sciences, a sister concern of Delta Pharma Limited, plans to establish international standard production facilities using modern technology and innovative initiatives within the country's burgeoning pharmaceutical industry. The project involves a significant investment of approximately US$30 million and is expected to create around 700 direct employment opportunities.

The specialized pharmaceutical production facilities are intended to meet growing domestic and global demands, contributing significantly to the national economy and healthcare sector.  Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of BEZA, congratulated Delta Life Sciences and stated that the National Special Economic Zone has created a unique opportunity for investors. 

He emphasized that this investment in the pharmaceutical sector will lead to product diversification. The chairman further noted that investments of this nature are crucial for playing a significant role in creating jobs, boosting exports, and increasing the country's capacity in the healthcare sector. Managing Director of Delta Life Sciences PLC., Dr. Md. Zakir Hossain, expressed optimism that the company would be able to supply competitive products to the global market after meeting the local market demand, facilitated by the modern production setup at the NSEZ.

Dr. Hossain noted that the company is hopeful about commencing production of Oral Solid medicine and oncology medicine within the next three years. The NSEZ is highlighted as the largest planned industrial area in Bangladesh, stretching 25 kilometers along the coastline. The zone is designed to integrate all urban system amenities alongside industrial establishments.

Currently, the NSEZ is a rapidly developing hub, with approximately 17 industrial units already operational and around 28 industrial units under construction.

The participation by Matador Ballpen Industries helped strengthen the country's brand image and solidify its position in the international market, the release added. Furthermore, the event generated opportunities for Bangladesh to establish new commercial relationships. Key buyers and business partners from regions including the Middle East, Africa, and South Asia were targeted for these new connections.

The exhibition is widely acknowledged as the largest and most crucial international platform in the Middle East dedicated to the paper, stationery, gift, and lifestyle industries. The event attracted approximately 15,000 visitors from more than 100 countries, with over 450 exhibitors displaying more than 650 international brands. Several nations, including India, Germany, China, Hong Kong, Turkey, and Jordan, also participated via official government pavilions.

However, even with the US president expected to sign the bill, the mood on trading floors was less upbeat than earlier in the week, when a deal was announced. Investors will now be able to get a long-awaited glimpse of the reports that have been held up by the closure, particularly the Fed as it decides whether or not to meet expectations and cut rates next month. Even then, the White House said figures on jobs and consumer prices for October were not likely to be released as statistics agencies were unable to collect the necessary data.

"Reopening also doesn't mean an instant snap-back to normal for the real economy. When you starve a system of staffing and pay for six weeks, the backlog doesn't vanish just because a bill passed at 8 pm," wrote Stephen Innes at SPI Asset Management. "The shutdown ends with a vote and a signature; the aftershocks show up in queues, call centres and cash-flow stress far away from the Capitol dome."

Meanwhile, concerns continue to mount that this year's AI-led market rally may have pushed valuations too high and led to a bubble in the tech sector that could burst at any time. Some have warned that the hundreds of billions invested in artificial intelligence has been overdone and the return could take time to come through.

Observers suggested that the recent tepid performance in several high-flying firms may be a sign of that, with the Nasdaq dropping for two days. The S&P 500 has also struggled of late, though the Dow on Wednesday ended at a record amid speculation that traders are shifting from tech into industrials. The mixed showing on Wall Street was reflected in Asia, where Hong Kong, Sydney, Seoul, Singapore, Taipei, Manila and Wellington fell.

Tokyo edged up while Jakarta and Shanghai were flat. Oil prices extended losses after plunging around four percent Wednesday after OPEC's monthly crude market report forecast an oversupply in the third quarter. That came just a month after it had predicted a deficit in the period. The commodity has come under pressure of late amid easing tensions in the Middle East and increasing output by OPEC and other key producers.

And the International Energy Agency earlier this year estimated a record surplus in 2026. Attention is also on Tokyo after Japanese Finance Minister Satsuki Katayama said Wednesday the government was keeping an eye on currency markets as the yen continued to weaken. She told parliament that "the government is watching for any excessive and disorderly moves with a high sense of urgency".

Since her remarks, the unit has weakened further to around 155 per dollar, prompting speculation that authorities could step in to provide support. The currency has come under pressure following dovish comments from Japan's central bank that tempered best on another interest rate hike and as the US moved towards reopening its government.

- Key figures at around 0230 GMT -

Tokyo - Nikkei 225: UP 0.2 percent at 51,166.78 (break)

Hong Kong - Hang Seng Index: DOWN 0.1 percent at 26,894.91

Shanghai - Composite: FLAT at 4,000.55

Dollar/yen: UP at 154.90 yen from 154.80 yen on Wednesday

Euro/dollar: DOWN at $1.1585 from $1.1587

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"While it is still early days and there is more to do, we now have proof points that Burberry Forward is the right strategic path to restore brand relevance and value creation," chief executive Joshua Schulman said in Thursday's earnings statement. Burberry, famed for its trench coats, has refocused also on outerwear in a bid to improve its fortunes.

Schulman was appointed chief executive in July last year after former CEO Jonathan Akeroyd left the group following weak results blamed also on poor strategy. Signs of improvement were already evident in September when Burberry rejoined London's top-tier FTSE 100 shares index, which it had exited a year earlier. Nevertheless, the group announced Thursday that sales fell five percent to o1.0 billion in its first half.

The growth figure comes after official data this week showed UK unemployment rising more than expected to 5.0 percent in the third quarter, ahead of the November 26 budget. Prime Minister Keir Starmer's Labour party has struggled to consistently grow the economy since returning to power in July last year following 14 years of Conservative party rule. Many analysts blame the weak growth on a decision by finance minister Rachel Reeves to increase a tax on businesses in her first budget last year.

She has indicated that taxes could rise on some salaries in the upcoming budget to help drive down government debt and to fund public services. "There's more to do to build an economy that works for working people," Reeves said in response to Thursday's figures. "At my budget later this month, I will take the fair decisions to build a strong economy," she added.

In September alone, the economy contracted 0.1 percent after a cyberattack on carmaker Jaguar Land Rover hit the manufacturing sector, the ONS data showed. "Growth slowed further in the third quarter of the year with both services and construction weaker than in the previous period," said ONS director of economic statistics Liz McKeown. "There was a particularly marked fall in car production in September, reflecting the impact of a cyber incident, as well as a decline in the often-erratic pharmaceutical industry," she added.

The latest quarterly figure was well below the 0.7-percent growth recorded in the first three months of the year.

EU trade chief Maros Sefcovic has now told EU finance ministers in a letter seen by AFP and dated Wednesday to agree on a temporary solution for next year. "It is a crucial step in ensuring the European Union bolsters its position in the face of rapidly changing trade realities," Sefcovic wrote. "This timeline is incompatible with the urgency of the situation," he added. Sefcovic said European industries, especially retailers, have stressed that "this distortion of competition be removed without delay".

"It will be extremely difficult to explain to our businesses and citizens why the EU cannot act faster to provide a solution," he added. The letter does not mention at what level the fee should be set, but Sefcovic said the ministers should work on a "simplified temporary customs fee and a better link of IT tools". EU member states and the European Commission are expected to agree during Thursday's talks to scrap the duty exemption and agree on finding a temporary solution for next year.

In a draft statement seen by AFP that could still change, they will agree to "develop a simple, temporary solution to enable earlier implementation as soon as possible in 2026" to "bridge the interim period". The aim will then be to submit the plan for approval during the next meeting of EU finance ministers on December 12. Fed up with waiting, some member states have already moved forward with their own plans including Romania which has imposed a five-euro fee on small parcels.

Toyota played down the comments, with finance chief Kenta Kon saying last week that it was "difficult to confirm the accuracy of the $10 billion figure". But on Thursday Toyota announced an "additional investment" of $10 billion over the next five years. "This will bring the company's total US investment to nearly $60 billion since beginning operations in the US nearly 70 years ago," a statement said. The announcement coincided with the opening of its first US factory making lithium-ion batteries for electric and hybrid cars.

The North Carolina plant is "Toyota's eleventh manufacturing facility in the US, representing an investment of nearly $14 billion and the creation of up to 5,100 new jobs," it said. In exchange for lowering tariffs to 15 percent from a threatened 25 percent -- 27.5 percent for Japanese cars -- Tokyo agreed in July to invest $550 billion in the US economy. Japanese automakers are also being pressured by the Trump administration to export vehicles made in their US plants to Japan.

Toyota has stated that it is ready to do so if conditions are met. "Efforts are underway to harmonise Japanese certification standards with those of the United States. If these preparations are successful, we would be willing to consider it," said Hiroyuki Ueda, Toyota's head of public affairs, at the Tokyo Mobility Show. Toyota imported about half of the vehicles it sold in the US last year, mostly from Canada and Mexico but also including some 281,000 vehicles made in Japan, Bloomberg News reported.

Last week Toyota hiked its operating income and net profit forecasts for the current fiscal year "despite" the impact of US tariffs. Toyota shares were down 0.1 percent at 3,187.0 yen at the break in Tokyo on Thursday.

According to Bangladesh Bank data, total deposits in the banking sector reached Tk19.14 lakh crore at the end of September 2025, compared to Tk17.41 lakh crore recorded in September 2024. Experts have described the September figures as "encouraging," noting that the overall performance reflects a significant recovery compared to the previous 16 months. They attributed the increase to three main factors – a shift of deposits towards strong banks, relatively higher interest rates compared to inflation, and a fall in treasury bill and bond yields.  Top-tier banks have seen the most growth as depositors increasingly trust well-governed institutions. Following the change of government last year, many customers withdrew funds from weaker banks and moved them to stronger ones.

Currently, most banks offer deposit rates between 8.5% and 9.5%, which remain higher than the 8.36% inflation recorded in September.  The report noted that during September, deposit interest rates were 25 to 50 basis points above average, encouraging people to park funds in banks as a safe investment option. At the same time, yields on treasury bills and bonds began to decline in September, prompting many individuals and institutions to shift their investments from government securities to bank deposits. Deputy Managing Director (DMD) of the Dutch-Bangla Bank Limited Mohammed Shahid Ullah said that deposits are rising in banks that have improved their quality and governance.

Confidence in the banking sector has grown, which is why deposits are increasing, he added. DMD of the Premier Bank PLC Abdul Quaium Chowdhury also said that year-end campaigns by banks, aimed at meeting annual targets, played a role in boosting deposits. According to Bangladesh Bank data, total deposits in the banking sector stood at Tk19.14 lakh crore at the end of September 2025, compared to Tk17.41 lakh crore in the same month last year. Customer confidence is gradually returning to Islami Bank Bangladesh Ltd (IBBL), IFIC Bank, and United Commercial Bank (UCB), which have all reported strong growth in deposits in recent months. After the change in government, Bangladesh Bank dissolved the boards of several banks, including IBBL, IFIC, and UCB. Fearing instability, many depositors withdrew their funds, putting pressure on liquidity.

Despite concerns about governance, these banks did not face difficulties in repaying depositors. After a year of weak growth, deposits are once again on the rise. IBBL, the country's largest private bank, recorded a 14.7% growth in deposits over the past year, driven by renewed public trust. As of September 2025, deposits at IBBL stood at Tk179,579 crore, up from Tk156,564 crore in September 2024. The bank came under pressure after 5 August 2024, when Chattogram-based businessman S Alam lost control of its board, sparking panic among depositors who rushed to withdraw funds. IFIC Bank also faced unrest and internal protests following the political transition, when its then-chairman Salman F Rahman, was removed. Rumours that the bank might collapse prompted a wave of withdrawals.

However, over the past year, IFIC's deposits have grown by Tk5,714 crore, a 12.6% rise, reaching Tk51,127 crore in September 2025, up from Tk45,412 crore a year earlier. UCB also faced significant withdrawals in the wake of the government change, but the bank has since recovered, adding over Tk11,000 crore in deposits within a year. Deposits rose from Tk54,439 crore in September 2024 to Tk65,524 crore in September 2025. Bangladesh Bank data showed that currency held outside the banking system declined by Tk8,829 crore year-on-year. As of September 2025, currency outside banks stood at Tk2.74 lakh crore, compared to Tk2.83 lakh crore in September 2024. 

The Commission has made the full text of the Rules accessible to the public on its official website. Interested parties can find the document by navigating to the 'Securities Laws' menu and then selecting the 'Securities Laws, Rules, Regulations' sub-menu.

To qualify for these benefits, producer-exporter companies engaging in sub-contracting must adhere to specific conditions. As per the circular, the firm or company must possess its own operational factory. The producer-exporter company will be eligible for cash assistance on the Net FOB value when exporting ready-made garments or textile goods produced via the sub-contracting process. Sub-contracting processes must strictly follow two specific regulatory documents- the Sub-Contracting Guideline for the Readymade Garment Industry – 2019 and the Rules for Direct Export-Oriented Garment Establishments (Temporary Import under Warehouse System, Warehouse Management, and Procedures) 2024.

It is specified that trading firms or companies not involved in production are not eligible for this extended facility. The new directive is effective immediately for products that are shipped or vessel-loaded from the date the current circular was issued.

Addressing the Wales-Bangladesh Chamber of Commerce (WBCC) Business Expo & Seminar recently, the High Commissioner showcased Bangladesh's growing potential as a key trade and investment partner for Wales, according to a message received here today. 

The event brought together leading Welsh figures, including Lord Lieutenant of West Glamorgan Louise Fleet, Minister of Finance Mark Drakeford, and Secretary of State for Wales Jo Stevens MP.

Highlighting Bangladesh's dynamic economic transformation, Abida Islam pointed to several promising sectors for collaboration, renewable energy, life sciences, FinTech, semiconductors, education, tourism, and agro-processing, calling for increased bilateral engagement and investment partnerships.

The High Commissioner also participated in a panel discussion and interactive Q&A session, encouraging Welsh enterprises to join upcoming trade missions to Bangladesh to expand commercial cooperation.

On the sidelines, she met with representatives from FinTech Wales and the Chartered Institute of Export & International Trade Wales, exploring avenues for future institutional collaboration.

The successful WBCC Expo Seminar reaffirmed the growing Bangladesh-Wales partnership, paving the way for deeper economic ties, greater investment flows, and shared prosperity between the two nations.

DSEX, the broad index of the DSE, declined by 47.4 points and settled at 4,825 points as against 4,873 points in the previous trading session.  Market turnover further declined, falling by 14.6% to Taka 2.9 billion from Taka 3.4 billion in the previous session.

Sector-wise, the Engineering sector accounted for the highest share of turnover at 13.1%, followed by Pharmaceuticals (13.1%) and Textiles (10.7%). All the sectors exhibited dismal performances, with Jute (-4.2%), Life Insurance (-3.7%), and Mutual Fund (-3.4%) experiencing the most corrections during the session.

Of the 397 issues traded, 52 advanced, 299 declined, and 46 remained unchanged. The port city bourse, CSE, also exhibited substantial correction as the Selective Categories Index (CSCX) plunged by 67.8 points, while the All-Share Price Index (CASPI) declined by 120.9 points.

This initiative is part of the Transformative Economic Policy Programme (TEPP), implemented by  United Nations Development Programme (UNDP) with support from the UK Government’s Foreign, Commonwealth & Development Office (FCDO), aimed at improving efficiency, transparency, and coordination in investment facilitation processes. Bangladesh’s rapid economic growth has increased demand for skilled foreign professionals and investors. However, delays and complex procedures for obtaining work permits and security clearances have often discouraged potential investors. 

The workshop focused on aligning institutional processes, strengthening coordination, and promoting professional and respectful engagement with foreign applicants. “A streamlined, technology-driven work permit system will strengthen investor confidence and position Bangladesh as a more attractive destination for global businesses,” said Md. Shaharul Huda, Executive Member, BIDA. He added, “Strong coordination among the institutions involved in the work permit process is essential for improving service delivery and ensuring a transparent and investor-friendly environment.”

“Work permit reforms are not just administrative, they are strategic steps toward creating a secure, business-friendly, and globally competitive Bangladesh,” stated Md. Ariful Hoque, Director General, BIDA. “Security vetting must be conducted with both rigor and efficiency, our objective is to safeguard national interests while ensuring investors experience a clear and predictable clearance process,” said Jesmin Akhter Khan, Joint Director, NSI.

She further emphasized, “Ensuring complete, verifiable documentation and channeling salary payments through formal banking systems are essential for compliance and for strengthening confidence in Bangladesh’s work permit framework.” UNDP is supporting this effort through TEPP by helping digitize and streamline processes between BIDA’s One Stop Service (OSS) and the Ministry of Home Affairs. These reforms aim to reduce manual steps, improve transparency, and make the overall process smoother for foreign experts and investors.

The consultation marks a major step toward creating a more efficient and investor-friendly environment, helping Bangladesh attract global expertise and investment to support its continued economic growth.

The decision to keep the financing scheme operational was made based on several key considerations. A primary factor is that the CMSME sector is recognized as a government priority sector. Additionally, there is extensive demand for the scheme among entrepreneurs. The continuation of the scheme also specifically considered the greater interest of the customers within this sector.

The programmme itself is considered vital for ensuring the uninterrupted provision of loan or investment facilities to these enterprises. These facilities are provided under relatively low interest or profit rates and easy conditions.

The appeal was made at a discussion meeting with businessmen and stakeholders at the FBCCI’s Motijheel office today. Khan emphasized in his address that achieving market stability requires a coordinated effort involving the government, the private sector, and the media, asserting that the government cannot manage the commodity market unilaterally, said an FBCCI press release.

The session commenced with a detailed market report presented by FBCCI Secretary General Md. Alamgir. Traders stressed that maintaining a stable supply by mill owners is crucial for market calm ahead of the Holy Month of Ramadan. Mill owners, despite favorable global sugar prices, raised concerns that recurrent winter gas supply disruptions could severely impede their production capabilities.

To ensure broader market normalization, business leaders proposed revisiting duties on specific commodities and suggested the government should actively participate in edible oil imports to bolster private sector efforts.