Bangladesh’s Power Division has urged people not to spread misleading information or propaganda over allegations of excessive electricity bills. In a notice issued on August 3, the division said it and the relevant distribution companies had already resolved the complaints received about excess billing.

The division said some individuals or groups had recently been conducting propaganda centred on complaints of excessive electricity bills. It strongly protested against such campaigning and asserted that there was currently no scope for confusion on the issue.

Customers who still have complaints regarding excessive electricity bills were asked to apply to the relevant authority with necessary supporting documents. The notice said such applications would be verified and necessary action would be taken. The Power Division also requested all concerned to behave responsibly in relation to the matter.

Bangladesh Bank has abolished the TT discounting facility previously available to scheduled banks for short-term liquidity or cash collection. The central bank issued a directive on August 3, and said the decision will be considered effective from July 1 this year. Banks will no longer be able to obtain the facility by placing a lien on balances held in their current accounts with Bangladesh Bank.

The facility had been available to scheduled banks since 1994. Under the earlier rules, banks were required to keep an amount equivalent to 20 percent of their approved limit as a lien in their current accounts at the central bank. Those liened funds were not included in the calculation of statutory cash reserves, or CRR.

Bangladesh Bank said several modern mechanisms now meet banks' daily liquidity needs, including the call money market, repo, the Standing Liquidity Facility and interbank borrowing. Use of TT discounting has fallen to nearly zero in recent years. Yet the lien remained against approved limits even when the facility was unused, preventing the funds from being counted as CRR and creating unnecessary pressure in regulatory ratio management.

Bangladesh began importing green chilies from India through the Hili land port in Dinajpur on the afternoon of August 3 to help control domestic prices. Trucks carrying Indian chilies started entering the country after import procedures were completed. Eleven importers received permission to bring in about 3,400 tonnes through Hili, and traders said news of the imports had already lowered prices by Tk80 to Tk90 per kilogram.

Importer Shahabul Islam said continuous rain and adverse weather had damaged chili fields in several parts of the country, reducing production and creating a supply shortage. He said prices had climbed to Tk300 to Tk400 per kilogram. Importers had sought permission because green chilies were comparatively cheaper in India, and they opened letters of credit and completed other required formalities after approval.

Anwar Hossain, deputy director of the Hili Land Port Plant Quarantine Centre, said the government granted the import permission to control market prices. He said Indian green chilies were last imported through the port on November 20 of last year. Traders expect supplies to increase and prices to decline further if imports continue regularly.

Prime Minister Tarique Rahman invited South Korea’s president to visit Bangladesh at a convenient time during a courtesy meeting with South Korean Trade Minister Yeo Han-koo. The meeting took place at 2:30 p.m. on Monday at the Cabinet Division in the Bangladesh Secretariat. The invitation came as Bangladesh and South Korea move toward signing a Comprehensive Economic Partnership Agreement, or CEPA, aimed at strengthening trade, investment and economic cooperation.

According to Deputy Press Secretary Shahadat Swadhin, Yeo briefed the prime minister on the proposed agreement at the start of the meeting. The South Korean minister said the deal, once effective, would expand bilateral trade and economic cooperation and significantly increase South Korean investment in Bangladesh. He said many Korean companies already operate successfully in Bangladesh and that more are interested in investing there.

Rahman invited Korean companies to invest in toys, electronics, telecommunications, automobiles, semiconductors and shipbuilding. He said South Korea could establish training centres in Bangladesh to provide training and language education for Bangladeshi workers for its shipbuilding industry. The government would take necessary measures if Korean companies seek to invest in Bangladesh’s shipbuilding sector, he said. Plans for a Bangladesh seminar involving Korean companies were also discussed.

Prime Minister’s Finance and Planning Adviser Professor Dr Rashed Al Mahmud Titumir said completion of the Padma Barrage project could add between 0.5% and 1% to Bangladesh’s gross domestic product. He made the remarks on Monday at a National Press Club roundtable titled “Padma Barrage: Prospects and Challenges,” organised by the Institute for Global Co-operation Foundation.

Titumir said the project could store about 2,900 million cubic metres of water for agriculture, irrigation and hydropower generation. It is expected to produce an estimated 113 megawatts of environmentally friendly hydropower. Plans also include developing seven modern townships along riverbanks as part of sustainable urbanisation.

The barrage is intended to maintain dry-season flows in the Hisna, Mathabhanga, Gorai, Madhumati, Chanda, Barashia, Baral and Ichamati rivers. Regular irrigation could be ensured for about 4.69 million hectares of farmland across the greater Kushtia, Faridpur, Jashore, Khulna, Barishal, Pabna and Rajshahi regions. The first phase is targeted for completion by 2029, with the full project planned by 2033.

Bangladesh plans to formally seek permission for 84 weekly flights to Saudi Arabia, up from the current 49, as it moves to modernise and revise its bilateral air services agreement with the kingdom. A high-level delegation led by the chairman of the Civil Aviation Authority of Bangladesh is travelling to Saudi Arabia on Monday to finalise discussions. The initiative aims to expand air connectivity, resolve landing and take-off slot complications for Bangladeshi carriers, and ease travel for Hajj and Umrah passengers.

Industry participants say Bangladeshi airlines face recurring difficulties securing Saudi airport slots during the Hajj season. Last-minute allocations, unsuitable landing times and sudden schedule changes can leave passengers waiting for hours and lead to flight delays or cancellations. The problems affect travellers from the Ashkona Hajj Camp to Hazrat Shahjalal International Airport in Dhaka, while also increasing airlines’ operating costs.

If approved, the additional 35 weekly flights could increase services from Dhaka, Chattogram and Sylhet to Riyadh, Jeddah, Dammam and Madinah. Officials from Biman Bangladesh Airlines and US-Bangla Airlines will join direct talks with Saudi slot management authorities. Civil Aviation and Tourism Minister Afroza Khanam Rita said a new agreement could expand commercial opportunities and make travel easier and more affordable for Bangladeshi expatriate workers.

Civil Aviation and Tourism Minister Afroza Khanam said the government is working relentlessly to develop Bangladesh’s tourism sector sustainably and make it one of the economy’s main drivers. She made the remarks on Sunday at the oath-taking ceremony for the newly elected executive committee of the Tour Operators Association of Bangladesh at Gulshan Club in the capital.

Khanam congratulated the new committee and said its leadership would play an important role in developing the tourism industry. She said the government aims to build a sustainable, modern and world-class tourism sector. Work is under way on an integrated tourism master plan covering 1,498 tourist attractions, which she said would provide a long-term framework for tourism development.

The minister identified turning Cox’s Bazar into a regional tourism hub as a government priority and said the newly built Cox’s Bazar International Airport could help attract international visitors and expand the industry. She also announced plans for special discounts for expatriate Bangladeshis at Bangladesh Tourism Corporation hotels and motels. The government has set a target for tourism to contribute 6 to 7 percent of GDP and has initiated a nationwide Tourism Satellite Account to address data gaps.

Retail markets in Kuliarchar, Kishoreganj, were selling green chilies at Tk400 per kilogram, according to a report published on August 3. The sudden increase over several days has put pressure on low-income consumers. Visits to several markets in the upazila, including the traditional Lakshmipur market, found the same retail price.

Housewife Nazma Akter said high vegetable prices had disrupted household budgets, adding that vegetables were becoming unaffordable for ordinary people after fish and meat. Shopper Kajal Mia said he was buying less green chili than needed because of the higher price and that other vegetables had also become more expensive. At Japarabad market, a buyer named Sohag said he could not purchase Tk20 worth of chilies after being told to buy 100 grams for Tk40.

Vegetable trader Shariful Islam said green chilies had sold for Tk250 to Tk280 per kilogram in recent days, but wholesale prices rose after persistent rain. Another trader, Mizanur Rahman, said rain damaged chili crops and reduced supply. Upazila Nirbahi Officer Yasin Khandakar said authorities were regularly monitoring markets to keep essential commodity prices normal.

Bangladesh Prime Minister Tarique Rahman held a courtesy meeting with South Korean Trade Minister Yeo Han-koo at the Cabinet Division in Bangladesh Secretariat at 2:30 pm on Monday. The South Korean minister briefed the prime minister on the Comprehensive Economic Partnership Agreement, or CEPA, due to be signed between Bangladesh and South Korea. He said the agreement would expand bilateral trade and economic cooperation and significantly increase South Korean investment in Bangladesh once it takes effect.

Yeo said many South Korean companies are already operating successfully in Bangladesh and that more firms are interested in investing there. The prime minister invited South Korean companies to invest in toys, electronics, telecommunications, automobiles, semiconductors and shipbuilding. He highlighted South Korea's expertise in shipbuilding and Bangladesh's potential workforce.

The prime minister said South Korea could establish training centres in Bangladesh to train Bangladeshi workers and provide language education for work in South Korea's shipbuilding industry. He said the government would take necessary measures if South Korean companies invest in Bangladesh's shipbuilding sector. Bangladesh also outlined plans for a seminar involving South Korean companies and invited the South Korean president to visit Bangladesh.

Raozan Upazila Nirbahi Officer S. M. Rahatul Islam inspected a farmer card data collection drive in Haldia Union of Raozan, Chattogram. The visit took place on Monday afternoon at the programme run by the Upazila Department of Agricultural Extension in Union No. 1 Haldia.

During the inspection, the UNO reviewed how farmers’ information was being collected and registered, and checked the quality of services provided. He instructed the officials concerned to gather information accurately and transparently so that genuine farmers can more easily receive government agricultural services and various incentive benefits.

Raozan Upazila Agriculture Officer Md. Masum Kabir, sub-assistant agriculture officers Sanjib Kumar Sushil, Siku Barua, Bhutan Barua and Tamiz Uddin were present, along with BNP leader S. M. Kamal and local dignitaries. The agriculture department said the initiative will update the farmers’ database, enabling government agricultural assistance and incentive programmes to be implemented more effectively in the future.

Bangladesh has begun distributing rice at Tk15 per kilogram under its food-friendly programme to support food security for low-income people. Starting on August 1, 5.5 million cardholding families in 495 upazilas are receiving the benefit. Each eligible family can collect 30 kilograms of rice per month.

A government notice said beneficiaries will receive rice for six months each year: August, September, October, November, and March and April of the following year. Fortified rice is being distributed to about 2.529 million beneficiaries in 248 upazilas to address malnutrition and improve nutrition among women and children. Regular rice is being distributed to 2.971 million beneficiaries in 247 upazilas.

Rice and flour sales also continue under the Open Market Sale programme through 1,108 outlets and trucks nationwide. As of August 2, government warehouses held 2,349,385 metric tonnes of food grains, including 1,966,148 tonnes of rice, 280,010 tonnes of wheat and 152,109 tonnes of paddy in rice-equivalent terms. The Food Ministry said the government remains committed to food security, reducing malnutrition and expanding social protection programmes.

Former interim government chief adviser’s special assistant Fayez Ahmad Tayyeb warned that lower interest rates, higher reserve money, increased cash holdings amid weak banking confidence and flood-driven price increases are creating multiple inflationary pressures. Inflation reached a 16-month high of 9.42 percent in May 2026 before easing to 9.16 percent in June, while the writer said flooding could push it higher in July. The government’s budget target is 7.5 percent.

The government cut the repo rate by 0.5 percentage points to 9.5 percent and reduced the Standard Lending Facility ceiling to 11 percent. Tayyeb argued that these measures could expand money supply and directly affect inflation. He said the average banking spread was 5.72 percent against a government-set 4 percent cap, with 56 of 61 banks above the limit. After inflation adjustment, the real deposit interest rate was negative 2.8 percent.

The article said Tk19,000-20,000 crore of a Tk60,000 crore package for reopening closed factories would come from central bank reserve money. Reserve money growth reached 12.1 percent in January-June of fiscal 2025-26, above the 8 percent projection. Bangladesh Bank’s model projects 8.6 percent inflation in June 2027, exceeding the announced target.

Ernst & Young has warned that the UK economy could enter recession in 2027 if the strategically important Strait of Hormuz is not reopened by the middle of next year. The forecast, reported by Al Jazeera and published on August 3, 2026, says a prolonged closure would raise inflation and increase pressure on the British economy.

Peter Arnold, EY’s UK chief economist, said the country could avoid a major economic downturn if the strait reopens within the next few months. However, he said an extended closure lasting into 2027 would drive inflation higher and could push the economy towards contraction or recession next year.

EY estimates that if the strait remains closed until the beginning or middle of 2027, UK growth this year could fall to 0.5 percent, followed by a 0.2 percent economic contraction in 2027. Under a more positive scenario in which the route reopens by September, EY forecasts 0.9 percent growth this year, up from its earlier 0.8 percent estimate, and 1.2 percent expansion in 2027.

Bangladesh’s dollar rate has risen again as higher fuel and gas import costs combine with reduced foreign-currency supply, according to a report published on August 3, 2026. Banks bought dollars at Tk122.45 in May, while some are now buying at Tk123.90-95, with the market rate near Tk124. The central bank has set a dollar rate for banks amid the pressure.

Bankers said increased government letters of credit for energy imports have raised demand for dollars. Remittance inflows fell by about $1 billion over the past two months, export earnings also declined, and import spending remained broadly unchanged. Remittances totalled $2.81 billion in June and $2.85 billion in July. International fuel oil prices rose from $60-70 per barrel to about $90, a Bangladesh Bank official said.

A state-owned bank official said monthly spending for BPC, BPDB and fertilizer imports increased by about $100 million. Petroleum-product imports reached $9 billion in July-May of fiscal 2025-26, up from $4.80 billion a year earlier. Former Bangladesh Bank governor Ahsan H Mansur opposed selling reserve dollars and suggested allowing a Tk2-3 market-aligned depreciation.

Seven OPEC Plus member countries have decided to increase crude oil production by about 188,000 barrels per day from September this year. Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman formally announced the decision in a joint statement. They said the higher production quota forms part of a coordinated commitment to maintain stability in the global energy market.

The September increase will fully reverse a 2023 agreement to cut supply by 1.65 million barrels per day. The United Arab Emirates had also participated in that supply-cutting decision, but left the OPEC alliance in May this year.

Jorge Leon, a senior analyst at Rystad Energy, said OPEC Plus had ended its voluntary supply cuts and now faced the challenge of managing a potential oil surplus if export flows normalize. He cautioned that immediate market effects may be limited because shipping through the strategically important Strait of Hormuz still faces restrictions and disruptions. Leon said the decision's full impact on the market would be felt if overall export movement returns to normal.