Canadian Prime Minister Mark Carney announced that Ottawa would impose equivalent retaliatory tariffs on US goods after last-minute trade negotiations with Washington collapsed. Canada decided on the “dollar-for-dollar” approach after the United States began applying new tariffs on Canadian products from midnight Saturday, according to the report published on August 22, 2026.

Carney said changes to US-proposed terms in the final stage of negotiations appeared unfair and economically unreasonable to Canada, raising doubts about the reliability of a possible agreement. Talks had continued intensively since July. US Trade Representative Jamieson Greer countered that Canada declined to finalize an agreement based on terms both sides had accepted earlier in the week.

The discussions had included reducing US tariffs on Canadian steel and aluminum from 50 percent to 25 percent, and on Canadian vehicles from 25 percent to 15 percent. Ontario Premier Doug Ford backed retaliatory tariffs. The Trump administration is also planning new 50 percent duties on various Canadian goods, while existing tariffs on steel, aluminum, vehicles and lumber would remain.

Finance Minister Amir Khasru Mahmud Chowdhury said Bangladesh has no opportunity to resolve its energy crisis quickly, despite the government taking all available initiatives to address it. He made the remarks on Saturday afternoon at a seminar in Motijheel, Dhaka, organized by the Dhaka Chamber of Commerce and Industry on the biannual economic situation for fiscal year 2026.

The minister said the solution to the energy crisis would come slowly. He also said the economy cannot emerge from its current crisis without investment, and that the government is working to create an investment-friendly environment to increase both domestic and foreign investment.

Chowdhury said the government aims to ensure three months of reserves in every energy sector. He said all possible efforts are being made by the government to meet that objective.

Gas supplies in Chattogram had not returned to normal by Saturday, August 22, 2026, causing severe disruption at CNG stations, households and industries. Long queues of gas-powered vehicles formed across the city, while residents in several areas reported little or no cooking gas. Most factories could not open on Saturday because of the shortage.

Karnaphuli Gas Distribution Company Limited said it received only 170.5 million cubic feet of gas in the 24 hours ending at 8am Saturday, roughly the same as Friday. The amount equals 55 percent of daily demand. The company said Chattogram needs 320 million cubic feet daily and normally receives an allocation of 246 million cubic feet from the national grid.

Queues at many CNG stations exceeded two kilometres, with some stations shutting supply because of low pressure. Factory owners said production at garment and steel plants had fallen to 20 percent, while use of diesel and furnace oil raised costs. Officials said supply may take at least another day to improve, with a new LNG cargo expected Sunday.

Canadian Prime Minister Mark Carney ended trade negotiations with the United States on Friday night, less than an hour before a deadline for new tariffs to take effect, according to the report published August 22, 2026. Carney said Canada would impose equivalent, dollar-for-dollar tariffs on US goods if Washington levies 50 percent duties on C$2 billion worth of Canadian products. He said he sought the best possible agreement for Canada but would not accept a deal at any price or within any deadline.

The talks collapsed after both sides accused the other of introducing new and unreasonable conditions at the last moment. US President Donald Trump had said on Tuesday that an agreement was nearly complete, while Carney repeatedly maintained that significant work remained. The report says Canada’s economy is deeply connected to the United States and that Ottawa relies heavily on its neighbour in defence, making Carney’s decision risky. He said the government would support Canadian industries and businesses harmed by the tariffs.

Provincial leaders from differing political camps backed Carney, including Ontario Premier Doug Ford and British Columbia Premier David Eby. Alberta Premier Danielle Smith urged a return to negotiations. Carney has sought to reduce Canada’s economic dependence on the United States by building partnerships in Asia and Europe, though the report says it remains uncertain whether those markets can quickly offset disruption in US-Canada trade.

Prime Minister Tarique Rahman has decided to build a highway on the Rahmatpur–Hizla–Mehendiganj–Bhola route to connect island district Bhola with Bangladesh’s main road network. The decision was made at a meeting at the Prime Minister’s Office in Tejgaon on Saturday, according to Deputy Press Secretary Hasan Shiplu. The report was published on August 22, 2026.

The meeting considered three proposals for direct road links between Bhola, Dhaka and Barishal. It selected the Barishal–Rahmatpur–Hizla–Mehendiganj–Bhola route proposed by the Roads and Highways Department. The prime minister stressed an integrated road system to overcome geographical barriers, ensure uninterrupted connectivity and expand trade opportunities, directing officials to advance the initiative quickly.

Project-related officials said existing roads along the proposed route would need widening, while new roads and three small bridges would also be required. Feasibility and implementation prospects will be examined quickly. Officials expect the project to establish direct road connections with Barishal, Dhaka and other areas, reducing travel time and costs and decreasing Bhola’s long-standing reliance on waterways.

Malaysia’s Foreign Worker Centralized Management System (FWCMS) has published a list of 25 Bangladeshi recruiting agencies approved to recruit workers from Bangladesh. The platform posted the names on its official website on Friday, according to a report published on August 22, 2026.

Leaders of a section of the Bangladesh Association of International Recruiting Agencies, known as BAIRA, had long demanded that Malaysia’s labour market be opened to all legally operating recruiting agencies in Bangladesh. However, Malaysian authorities finalised the list of 25 agencies through what the report described as a syndicate.

Malaysia temporarily closed its labour market for Bangladesh on May 31, 2024. At that time, many workers with tickets were unable to travel after the deadline expired, while others returned from the airport disappointed because they could not obtain airline tickets. Discussions and initiatives on sending Bangladeshi workers to Malaysia have continued since then, and FWCMS has now released the approved-agency list.

Farmers in Sherpur, Bogura, alleged on August 22 that TSP and DAP fertilizer are being sold above government-set prices and are unavailable at official rates. They said retailers and dealers often claim stocks are exhausted when farmers seek fertilizer at fixed prices, but supply becomes available if they agree to pay more. Farmers in several unions said the situation is causing concern during the cultivation season.

According to the complaints, TSP, officially priced at Tk1,350 per bag, is being sold for Tk1,700 to Tk1,800, while DAP, set at Tk1,050, is reportedly sold for up to Tk1,600. Farmers also alleged that shop memos are often not provided. Some anonymous retailers said they must buy fertilizer from BCIC and BADC dealers at an extra Tk200 to Tk300 per bag and receive memos showing the official price. Dealers denied the allegations.

One dealer said there was no fertilizer shortage and attributed temporary demand pressure to advance purchases by farmers, though he acknowledged some shortage of DAP. Upazila agriculture officer Farzana Akhtar said sufficient fertilizer was available and legal action would follow if proof of overcharging emerged. Upazila executive officer Saiduzzaman Himu said dealers have no scope to charge above official prices.

The World Bank forecasts that Lebanon’s economy will shrink by 6.4 percent in 2026 as the ongoing Israel-Hezbollah war severely disrupts the country’s recovery efforts. In a report released Friday, the bank cited a collapse in tourism, lower consumer spending, disrupted goods supply chains, heightened insecurity and prolonged displacement as major drivers of the projected contraction. Lebanese authorities say more than 4,300 people have been killed in Israeli air strikes and ground operations.

Lebanon has faced a severe financial crisis since 2019. Before the latest conflict, the World Bank’s preliminary estimate had suggested real GDP could grow by 4.2 percent in 2025, which would have been the country’s fastest economic growth since the financial crisis began. The bank also expects inflation to reach 17.5 percent this year, driven by supply disruptions, higher transport costs and rising oil prices, further reducing purchasing power.

World Bank Middle East director Dalia Khalifa said reforms must advance to restore confidence, preserve economic stability and secure financing for reconstruction and recovery. She highlighted banking-sector restructuring and public financial-management reform. Lebanon’s parliament last week approved amendments to a bank restructuring law, which the IMF praised as an important step. Lebanon is discussing economic assistance with the IMF, with talks set to resume in Beirut next month.

Farmers in Khetlal, Joypurhat, have alleged that some dealers and traders are selling fertilizer above government-set prices during the current Aman rice season, despite claims of adequate supply. The report, published on August 22, 2026, says growers are paying an extra Tk400 to Tk600 per 50-kilogram bag and in some cases are being denied receipts. Farmers say the higher costs are raising production expenses and increasing fears of losses.

Government prices are listed at Tk1,350 for urea and TSP, Tk1,000 for MOP and Tk1,050 for DAP per 50-kilogram bag. Farmers allege urea is selling for Tk1,900 to Tk1,950, TSP for Tk1,900 to Tk2,000, DAP for Tk1,500 to Tk1,600, and MOP for around Tk1,400. They say posted price lists do not match actual sales prices.

The agriculture department has set an Aman cultivation target of 10,850 hectares in Khetlal, with transplanting completed on about 97% of land. Dealers and officials said action would follow verified complaints, while an agriculture official said some pressure may stem from excess fertilizer use and advance storage for the potato season.

Canada has stepped back from finalising a trade agreement with the United States after last-minute negotiations failed, according to the report published on August 22, 2026. The Trump administration is preparing to impose new tariffs of up to 50 percent on nearly $20 billion in Canadian goods, representing about 5 percent of Canada’s total exports to the United States.

US Trade Representative Jamieson Greer said Canada had refused to finalise the agreement under terms agreed earlier in the week. Canadian Prime Minister Mark Carney said last-minute changes to the proposed US terms were unfair and unprofitable, raising questions about the reliability of any agreement. He said his government would soon announce measures to support Canadian workers and businesses.

Annual goods and services trade between the two countries totals about $880 billion, while their border stretches roughly 5,525 miles. About 72 percent of Canada’s goods exports depend on the US market, meaning tariffs could pressure Canadian businesses and employment. The report also said higher costs for US importers could raise consumer prices and pose a political risk for the Trump administration before November’s midterm elections.

Bangladesh’s ready-made garment industry is facing declining exports in its two major markets, Europe and the United States, contributing to factory closures and job losses in Chattogram. Eurostat data showed Bangladesh exported garments worth €8.6448 billion to Europe in the first six months of 2026, down 16.43% from €10.3444 billion a year earlier. Exports to the United States fell 5.75% to $4.0078 billion over the same period.

Chattogram Industrial Police said 50 factories closed during the past six months, including 25 permanently, leaving more than 7,000 workers unemployed. Analysis cited in the report indicates at least 20,000 workers nationwide were dismissed or laid off in the first half of the year, most of them from the garment sector. Workers reported hardship after closures and alleged unpaid dues.

Industry representatives cited weak orders, energy shortages, raw-material constraints, rising costs and global competition. They said gas-dependent textile factories were particularly affected, while operating factories were running at low capacity. Economists urged swift action to protect investment and sustain production, warning that lower exports could reduce foreign earnings and state revenue.

An opinion article by Chittagong University economics professor Dr Mohammad Saiful Islam says Bangladesh has formally asked the United Nations General Assembly to remain in the least developed country category for three more years. Bangladesh had been due to graduate from LDC status on November 24 this year under three UN criteria, but the article says the country has not completed the preparations needed for transition to upper-middle-income status.

The article contrasts the request with former prime minister Sheikh Hasina’s 2021 declaration that Bangladesh had become a developing country. It alleges that many economic indicators presented by the previous government were inaccurate, citing interim government finance adviser Dr Salehuddin Ahmed’s criticism of statistical manipulation. It says Bangladesh’s export base remains heavily dependent on ready-made garments, which account for about 82 percent of export earnings.

According to the article, graduation could end duty-free export preferences, pharmaceutical-sector TRIPS benefits, concessional lending and foreign grants. It cites estimates of average annual export losses of $17.5 billion and says Bangladesh plans revenue and financial-sector reforms during the requested extension. If planned measures are implemented, the article says Bangladesh could take on developing-country status in November 2029.

Industrial factories in Bangladesh are facing severe disruption from shortages of gas and electricity, with output reportedly falling by 25% to 30%. Factory owners and workers in Savar, Gazipur, Narsingdi and Narayanganj said unreliable energy supply is interrupting production, increasing costs and raising fears of missed deliveries and lost markets. The report was published on August 22, 2026.

Textile and garment businesses said repeated power outages and low gas pressure have particularly damaged gas-dependent dyeing operations. Some firms are using diesel generators or other fuels, but owners said this adds substantial expenses and cannot sustain full operations. BGMEA President Mahmud Hasan Khan said factories are extending work to 12 to 13 hours to maintain production and avoid order cancellations.

Petrobangla data cited daily gas demand of about 3.8 billion cubic feet, while supply recently fluctuated between 1.73 billion and 2.44 billion cubic feet. The power board said 21 gas-based plants were fully shut and eight partly operating because of gas shortages. Workers reported longer unpaid stays at factories and concern about job losses as some plants reduce output or close.

Bangladesh’s industrial factories are facing severe disruption from inadequate gas and electricity supplies, with production reported to have fallen by 25% to 30%. Factory owners and workers in Savar, Gazipur, Narsingdi and Narayanganj described interrupted operations, rising costs and concern over delayed deliveries and lost markets. The report was published on August 22, 2026.

Textile and garment producers said repeated power cuts and low gas pressure have particularly hurt gas-dependent dyeing operations. Sadama Fashionwear in Gazipur said its dyeing unit had been shut for a week, while Mosharraf Composite Textile said output had fallen to 30% to 35% of capacity. Entrepreneurs said factories are buying additional diesel, costing an average of Tk3 crore to Tk10 crore monthly per factory in some cases.

Petrobangla data cited daily gas demand of about 380 crore cubic feet, while supply recently fluctuated from 173 crore to 244 crore cubic feet before dropping to 218 crore cubic feet. The Power Development Board said 21 gas-fired plants were fully shut and eight partly operational because of gas shortages, while average daily load-shedding in August exceeded 2,000 megawatts.

China’s decision to draw on its strategic oil reserves has helped limit pressure on global oil markets after the Strait of Hormuz was closed, according to the report published on August 21, 2026. Six months after the closure, an estimated 10 to 14 percent of global oil supplies still cannot reach the market, yet oil-market volatility has remained lower than in several previous Middle East crises.

Before the war, about 20 million barrels of oil a day passed through the strait, roughly one-fifth of global daily consumption. International oil prices have risen about 50 percent in the current crisis, with Brent crude increasing from around $60 a barrel at the start of the year to a stable range of about $85 to $90.

The report contrasts the situation with the 1973 Arab oil embargo, when a 7 percent supply disruption was followed by a near fourfold price increase. Supply disruptions of 6 to 7 percent during the 1979 Iranian Revolution and Iraq’s 1990 invasion of Kuwait also drove prices to more than double. China has avoided buying large additional volumes of crude, preventing extra demand from adding market pressure.