Ahead of Ramadan, edible oil prices have unexpectedly increased in Bangladesh despite adequate imports. Retailers report that companies have reduced commissions, indirectly raising prices. Unscrupulous traders are accused of artificially inflating soybean and palm oil prices. In contrast, vegetable prices have declined due to increased supply, while chicken prices rose by Tk 10 per kilogram and egg prices fell by Tk 5 per dozen.

Industry sources indicate that Bangladesh’s annual edible oil demand is about 2.5 million tons, with imports exceeding seasonal needs. By December, over 2.4 million tons of palm oil had been imported, and additional shipments are awaiting unloading at Chattogram port. Refinery owners claim that global price hikes have not yet affected the domestic market, suggesting that local manipulation and weak monitoring may be driving the rise.

Despite the oil price surge, traders say the supply of essential goods such as lentils and sugar remains stable, and they expect no major price hikes during Ramadan if monitoring improves.

Production at the state-owned Jamuna Fertilizer Factory in Jamalpur came to a halt early Friday after rats chewed through electrical wires, causing a short circuit and a sudden blackout across the plant. The incident occurred around 1 a.m. in the factory’s power plant, disrupting electricity supply and stopping the production process. General Manager (Operations) Md. Fazlul Haque confirmed that repair work was underway and production was expected to resume by Saturday.

The Jamuna Fertilizer Factory, the country’s largest urea producer, has faced repeated production interruptions in recent months. After resuming operations on November 24 following a 23-month gas shortage, the plant has experienced multiple shutdowns due to low gas pressure and technical faults. The latest disruption adds rodent infestation to its list of operational challenges.

Factory officials and engineers cited long-standing maintenance and safety constraints, including inadequate budgets and outdated equipment. Experts noted that proper cable protection and regular pest control could have prevented the blackout. Authorities said the situation was under control and pledged to strengthen preventive measures to avoid similar incidents in the future.

Bangladesh Bank officials have voiced disappointment that the central bank has not been granted autonomy during the interim government’s reform period. At a press conference held on Thursday, February 5, 2026, by the Bangladesh Bank Officers’ Welfare Council at the bank’s headquarters, officials also condemned recent comments by the finance adviser questioning their integrity, calling the remarks unjust, inappropriate, and offensive.

Council leaders, including President A.K.M. Masum Billah and General Secretary Golam Mostafa Shraban, stated that it is unfair to hold the central bank responsible for irregularities in the banking sector without granting it autonomy. They demanded that the bank’s accountability be placed under a parliamentary committee rather than the government. The officials also criticized the failure to amend the Bangladesh Bank Order and the Bank Company Act despite the presence of senior economic figures in the interim administration.

The council further urged the resolution of recruitment and promotion deadlocks, cancellation of all contractual adviser appointments made without transparent procedures, and greater focus from the governor on central bank affairs.

Bangladesh and the United States are set to sign a counter-tariff trade agreement on Monday, February 9, in Washington, D.C. The formal activities related to the signing will begin a day earlier, on February 8. Although the event will span two days, Bangladesh’s Commerce Adviser Sheikh Bashir Uddin and Commerce Secretary Mahbubur Rahman will not attend in person.

According to the Ministry of Commerce, a five-member Bangladeshi delegation will travel to the United States to represent the country at the signing ceremony. A government order issued on February 3 appointed Additional Secretary and WTO Division Head Khadiza Nazneen as the delegation leader. Other members include Joint Secretaries Firoz Uddin Ahmed and Mustafizur Rahman, Senior Assistant Secretary Sheikh Shamsul Arefin, and NBR Commissioner Rois Uddin Khan. The delegation is scheduled to leave Dhaka on February 6 and return around February 10.

Meanwhile, Commerce Adviser Sheikh Bashir Uddin and Commerce Secretary Mahbubur Rahman have departed for Tokyo to attend the Bangladesh-Japan Economic Partnership Agreement signing program, taking place from February 4 to 6.

The six-day-long strike by workers and employees at Chattogram Port has been suspended for two days following successful discussions with the shipping adviser. The decision was announced on Thursday, February 5, 2026, at a press conference held at the port building by Humayun Kabir and Ibrahim Khokon, coordinators of the Chattogram Port Protection Struggle Unity Council. Workers will resume full operations from Friday morning, bringing relief to port activities that had been paralyzed for nearly a week.

During the meeting, labor leaders presented four demands, including cancellation of the New Mooring Container Terminal (NCT) operation agreement, withdrawal of transfer orders for protesting employees, assurance against future legal actions, and removal of the current port chairman. The adviser accepted two of these demands and promised to consider the chairman’s removal. He also sought two days to consult the chief adviser regarding the NCT issue.

Union leaders warned that if the government does not withdraw from the NCT agreement within the given time, they will resume the strike from Sunday. The temporary suspension has restored confidence among traders and port stakeholders after days of disruption.

The Bangladesh government has decided to reduce value-added tax (VAT) on liquefied petroleum (LPG) gas, aiming to bring down its market price. The decision was made on Thursday, February 5, during an advisory council meeting chaired by Chief Adviser Professor Muhammad Yunus. Chief Adviser’s Press Secretary Shafiqul Alam announced the decision at a press briefing held at the Foreign Service Academy in Dhaka.

According to Shafiqul Alam, the council approved a proposal to exempt the existing 7.5 percent VAT and 2 percent advance tax on local production and trading of LPG, while imposing a 7.5 percent VAT at the import stage. He stated that this adjustment would reduce the overall tax burden on LPG and consequently lower its retail price in the domestic market.

The government expects that the revised VAT structure will ease consumer costs and stabilize LPG prices across the country, providing some relief to households and businesses dependent on the fuel.

Chittagong Port is set to reopen on Friday morning after six days of shutdown due to worker protests against the government’s decision to appoint a foreign operator at the port’s New Mooring Container Terminal (NCT). Shipping Adviser M Sakhawat Hossain announced the resumption following a series of meetings at the port building on Thursday, warning that strict legal action would be taken against anyone obstructing operations.

The adviser said discussions with worker representatives were not fruitful but assured that the terms of the agreement with DP World would be reviewed to include workers’ concerns where possible. He emphasized that the government could not withdraw from its current position on the deal. Hossain also noted that the country was in a sensitive period ahead of elections and Ramadan, making it essential to keep the port operational.

Leaders of the Port Protection Struggle Council have suspended their protest programs for Friday and Saturday following the adviser’s assurances. They warned that if the government fails to make a positive decision within two days, they will resume their movement from Sunday.

A meeting held in Chattogram on Thursday to resolve the ongoing deadlock at the port ended without any decision. The session, attended by Shipping Adviser M Sakhawat Hossain, was convened amid a six-day blockade by port workers protesting the government’s decision to lease the NCT terminal to a foreign company. Despite the adviser’s presence and discussions with port authorities and stakeholders, the protesting workers refused to join the meeting and continued their demonstrations outside.

Sakhawat Hossain told reporters that no foreign operator had yet been appointed and that there was no justification for halting operations at the country’s key economic hub ahead of Ramadan and the national election. He expressed hope that the crisis could be resolved if workers agreed to sit for talks. However, the workers, led by the Port Protection Struggle Council coordinator Humayun Kabir, rejected an invitation to a follow-up meeting at the Boat Club, insisting that any discussion must take place at the port building.

The standoff remains unresolved, with security forces maintaining a presence around the port premises.

The Washington Post, owned by Amazon founder Jeff Bezos, has begun large-scale layoffs affecting roughly one-third of its staff across all departments, according to a company spokesperson on Wednesday. The move will significantly reduce the size of the organization. Several foreign bureaus, including the entire Middle East desk, Ukraine coverage, and operations in Australia and India, have also been scaled back.

Employees were reportedly instructed via email to stay home on Wednesday morning, prompting questions from staff, former editors, and readers about Bezos’s silence and role in the decision. Many current and former employees expressed frustration, suggesting that Bezos is no longer as actively engaged with the newsroom as before.

U.S. media reports cited restructuring and financial challenges as the main reasons for the layoffs, rather than performance. Some dismissals were also linked to internal disputes or ideological differences. Former chief fact-checker Glenn Kessler wrote that Bezos appears focused on surviving under Donald Trump’s political climate rather than saving the paper, reflecting broader concerns about editorial and business decisions being influenced by non-journalistic factors.

Venezuelan interim president Delcy Rodríguez has met with senior executives from Spain’s Repsol and France’s Maurel & Prom to discuss the country’s energy sector. The state-owned oil company PDVSA confirmed the meetings on Wednesday, describing them as the new administration’s first major talks with foreign investors since the ouster of Nicolás Maduro one month ago.

According to PDVSA’s separate statements, discussions with Repsol focused on ensuring Venezuela’s energy security and sovereignty while maintaining mutual interests and profitability. Talks with Maurel & Prom emphasized strengthening strategic partnerships aimed at increasing Venezuela’s oil production capacity.

Both Repsol and Maurel & Prom have long been involved in Venezuela’s oil production and trade, though their operations have faced disruptions in recent years due to strict U.S. sanctions.

The United States has returned the entire $500 million from an initial oil sale to the Venezuelan government as part of an agreement between Caracas and Washington. A U.S. official, speaking anonymously on Tuesday, confirmed that the final $200 million had already been transferred to Venezuela. The funds were returned under a deal reached last month following the January 3 U.S. military operation in which Venezuelan President Nicolás Maduro was detained.

According to the U.S. official, the arrangement was designed to allow Venezuela to generate revenue from its own oil to pay salaries for teachers, firefighters, and police officers, and to maintain government operations. The money had been temporarily held in Qatar as a short-term measure to ensure that Venezuela could access the funds necessary for running its administration.

The official emphasized that the return of the funds was intended to prevent institutional collapse in Venezuela while maintaining essential public services.

A prolonged strike at Chattogram Port has escalated into a national crisis, disrupting supply chains and threatening market stability ahead of Ramadan. The strike, initially an eight-hour protest, has turned indefinite following opposition to the government’s plan to lease the New Mooring Container Terminal to foreign operator DP World. As a result, over 120 ships are waiting to unload, including at least 35 carrying essential Ramadan goods such as dates, lentils, chickpeas, sugar, and edible oil. Importers face rising storage costs, and analysts warn that these expenses will likely push consumer prices higher.

The port’s operations have slowed to half capacity, causing severe congestion and revenue losses at the Chattogram Customs House. Business leaders and shipping agents report that each day of delay costs importers tens of thousands of dollars, which will ultimately burden consumers. The government has banned gatherings near the port, ordered regular labor bookings, and formed a six-member committee to assess revenue losses and identify those responsible.

Labor leaders insist the strike will continue until the lease plan is canceled, while port authorities have declined to comment on the pending agreement with DP World.

Operations at Chattogram Port’s New Mooring Container Terminal (NCT) have come to a standstill due to an indefinite strike called by the Nationalist Workers Party and the Sramik Oikya Parishad (SKOP). The strike, initially an eight-hour work stoppage, escalated into a full shutdown after the government decided to appoint a foreign operator at the terminal. Despite warnings and transfer orders from the Ministry of Shipping, protesting workers have refused to leave their posts. The port has now accumulated 37,000 containers, with 120 cargo ships waiting offshore.

The unrest follows a High Court ruling on November 30 that upheld the legality of hiring a foreign operator, prompting preparations for a contract between Chattogram Port Authority and global terminal operator DP World. However, the agreement, scheduled for February 1, was postponed amid the protests. Business leaders and port users have expressed concern over the prolonged disruption, warning of severe impacts on trade and the national economy.

Port officials say the situation is being monitored by the government’s top level, while industry associations caution that continued paralysis could damage Bangladesh’s global trade reputation and cause market instability.

Foreign loan approvals for Bangladesh’s private sector fell sharply in fiscal year 2024–25, with only USD 454.6 million approved across 43 applications, compared to over USD 1.4158 billion for 76 applications the previous year. The Bangladesh Investment Development Authority (BIDA) reported the 75 percent decline in its annual report, attributing it to reduced investment and lower demand for imported capital machinery.

BIDA officials explained that the slowdown in domestic investment has reduced the need for foreign borrowing. Policy Exchange of Bangladesh’s chairman Dr. M Masrur Reaz noted that private sector credit growth dropped to 6.2 percent, the lowest in decades, reflecting weak domestic demand and slower economic output. He expressed hope that investment and loan demand would recover under a newly elected government.

Sources added that higher global interest rates and the depreciation of the taka against the US dollar have increased borrowing costs, further discouraging foreign loans. BIDA’s recent reform allowing short-term loans to be processed directly through banks also affected the reported figures.

Bangladesh Bank has purchased an additional 171 million US dollars from 16 commercial banks. The transaction took place on Wednesday, February 4, and was confirmed by the bank’s Executive Director and Spokesperson, Arif Hossain Khan. The cutoff price for the purchase was set at 122.30 taka per dollar.

According to the information provided, this is the second round of dollar purchases in February, bringing the total for the month to 389.5 million dollars. The central bank has been conducting multiple auctions to buy dollars during the 2025–26 fiscal year. As of the latest data, Bangladesh Bank has purchased a cumulative total of 4.32 billion dollars through these auctions.

The continued dollar purchases indicate the central bank’s ongoing efforts to manage foreign exchange reserves and stabilize the domestic currency market, as reflected in its repeated interventions through auctions.