Abdur Rahman Khan, the recently retired chairman of Bangladesh’s National Board of Revenue (NBR), is set to be appointed as the country’s next executive director at the World Bank. He will succeed Sharifa Khan, the former senior secretary of the Economic Relations Division (ERD), who currently holds the position. Once the official government notification is issued, Abdur Rahman Khan will represent Bangladesh on the World Bank’s Board of Executive Directors.

According to relevant sources, the Prime Minister’s Office has already approved the file related to his appointment. The executive director represents member countries on the World Bank’s board, participating in key decisions regarding loans, grants, development projects, policy matters, and other financial operations. The alternate executive director performs duties in the absence of the executive director and assists in board activities.

The appointment marks a continuation of Bangladesh’s representation in the World Bank’s decision-making body, ensuring the country’s participation in shaping global development and financial policies.

A free shuttle service has been launched at Hazrat Shahjalal International Airport in Dhaka to ensure safe, convenient, and comfortable transport for arriving and departing passengers. The initiative, funded by the Civil Aviation Authority of Bangladesh (CAAB), was inaugurated by Group Captain S M Ragib Samad, Executive Director of the airport, at a ceremony held in front of the airport canopy.

The service operates under the guidance of the Minister and State Minister for Civil Aviation and Tourism and the CAAB Chairman. Initially, the buses will run between the airport and key nearby points including the Airport Bus Stand, Jasimuddin Mor, Airport Railway Station, and Kawla. The service aims to provide free, fast, and secure travel between major connection points for passengers, particularly benefiting senior citizens, women, children, physically challenged travelers, and those carrying heavy luggage.

According to CAAB, the initiative is expected to reduce dependence on private vehicles, ease traffic congestion around the airport, and promote an environmentally friendly transport system while improving overall passenger service quality.

Global oil prices rose sharply after U.S. President Donald Trump announced that the ceasefire with Iran was over. The declaration came following overnight retaliatory attacks between the United States and Iran, triggering volatility in energy markets. On Wednesday, international benchmark Brent crude increased by 6 percent to reach 78 dollars per barrel, while U.S. benchmark West Texas Intermediate (WTI) rose 5.95 percent to 74.60 dollars per barrel. In contrast, European share prices fell by 1.6 percent.

Earlier, oil prices had already climbed more than 2 percent on Wednesday following renewed U.S. strikes and the reinstatement of trade sanctions against Iran. On Tuesday, prices had risen by nearly 3 percent. The developments reflect heightened geopolitical tensions affecting global energy markets.

Speaking at the NATO summit alongside Secretary-General Mark Rutte, Trump said the memorandum of understanding with Iran was “over” and described it as a waste of time, signaling a further deterioration in U.S.-Iran relations.

The state-owned National Jute Mill in Sirajganj, one of northern Bangladesh’s largest industrial units, has remained closed for two years, leaving thousands of workers unemployed. Machinery has rusted due to prolonged inactivity, while the government continues to spend around Tk 6.5 to 7 million monthly on salaries for 189 officials and employees, as well as electricity bills. Despite generating no income, the mill continues to drain public funds.

The mill, originally built in 1960 as Qaumi Jute Mill, was once a major source of employment for about 5,000 people. It faced repeated closures due to corruption and bureaucratic complications, first in 2007, then again in 2020. A private group briefly leased and operated it in 2022 but shut down in 2024, leaving unpaid wages and bonuses. Workers and local leaders have demanded the mill’s reopening to restore livelihoods and prevent further waste of public money.

The mill’s general manager said efforts are underway through the Bangladesh Jute Mills Corporation to lease the facility again, expressing hope that operations could resume soon.

Global oil prices climbed again after the United States launched airstrikes on Iran and reinstated trade sanctions. According to a Reuters report, oil prices rose more than 2 percent on Wednesday, with Brent crude increasing by 1.92 dollars to 76.08 dollars per barrel and West Texas Intermediate rising by 1.82 dollars to 72.26 dollars per barrel. The renewed sanctions on Iranian oil sales and the breakdown of a temporary truce between the two countries have fueled market instability.

Analysts noted that while the decision may not cause major structural changes in the oil market, investor anxiety has increased. The United States said its strikes followed Iranian attacks that damaged three commercial ships in the Strait of Hormuz. Experts warned that the incident underscores ongoing risks to shipping in the region, and prolonged tensions could reduce global oil supply if vessel traffic falls below half of normal levels.

Oil prices had previously declined after a ceasefire agreement between the United States and Iran last month, which had raised expectations of increased Middle Eastern oil supply.

A recent report by India’s government think tank NITI Aayog has revealed that despite producing about 20 percent of the world’s generic medicines, India remains heavily dependent on China for key raw materials. The report highlights that over 65 percent of key starting materials and active pharmaceutical ingredients used in Indian drug manufacturing come from China, with dependency exceeding 85 percent for critical drugs such as antibiotics and fever medicines. This structural reliance poses a major risk to India’s pharmaceutical supply chain, which could be disrupted by geopolitical tensions or trade restrictions.

The report contrasts India’s global reputation as the “pharmacy of the world” with its limited financial returns and fragile industrial base. It notes that while India supplies around 60 percent of global vaccines, its share in the vaccine market’s total value is only 0.6 percent. NITI Aayog attributes this imbalance to low research and development investment, bureaucratic hurdles, and restrictive environmental regulations that have driven manufacturers to import cheaper Chinese materials.

The analysis warns that without sustained R&D investment, streamlined patent processes, and practical environmental policies, India’s “Made in India” initiative will remain dependent on “Made in China.”

Saudi Arabia has introduced a new pilot program called the package visa to make travel easier for foreign tourists. Under this system, visitors can obtain a comprehensive travel package that includes a tourist visa, flight tickets, accommodation, and other essential travel services. According to a report published on Tuesday, the initiative will initially be implemented through approved travel and tourism service providers.

The program allows travelers to book round-trip flights, licensed hotel stays, and apply for electronic tourist visas in one process. They can also add events, tourism activities, and experiences to their packages. Only authorized travel agencies with digital platforms, technical capacity, and 24-hour customer service can offer this facility. The initiative is part of Saudi Arabia’s Vision 2030 plan to boost the tourism sector, jointly implemented by the ministries of tourism, foreign affairs, interior, and the insurance authority.

Officials expect the package visa to enhance the travel experience, strengthen tourism partners, and make Saudi Arabia a more attractive destination, encouraging longer stays and higher spending by foreign visitors.

Kuwait’s Ministry of Finance announced that the country’s budget deficit for the 2025–26 fiscal year has risen to 7.1 billion Kuwaiti dinars, equivalent to about 23.9 billion US dollars. The ministry attributed the increase to a significant drop in oil revenues, according to a statement cited by Al Jazeera.

Compared with the previous fiscal year, the deficit expanded by 13.2 percent. The government’s total revenue fell by around 10 percent from earlier projections, with income from the oil sector declining by 11.2 percent to 15.3 billion Kuwaiti dinars, or roughly 49.4 billion US dollars.

The data highlight Kuwait’s continued dependence on oil income and the fiscal pressure caused by lower global energy prices, as reflected in the ministry’s report.

Continuous heavy rainfall has raised the water level of Kaptai Lake, enabling the Karnafuli Hydropower Plant in Rangamati to increase electricity generation. With improved water availability, all five units of the country’s only hydropower facility have been brought back into operation, producing a total of 150 megawatts of electricity as of Tuesday evening, July 7, 2026.

According to plant officials, the water level in Kaptai Lake has been rising steadily over the past several days due to persistent rain in Rangamati and surrounding areas. Previously, only two of the five units were operational because of low water levels. The resumption of all units marks a significant boost in generation capacity.

Officials noted that if rainfall continues and the lake’s water level increases further, there will be potential to expand electricity production beyond the current output. The Karnafuli Hydropower Plant has a maximum generation capacity of 230 megawatts.

Bangladesh’s foreign currency reserves declined following the settlement of Asian Clearing Union (ACU) import bills for the May–June period. According to Bangladesh Bank data, the country’s total reserves stood at 36.17 billion dollars on Tuesday, down from 37.84 billion dollars the previous day. Under the IMF’s BPM-6 calculation method, reserves dropped to 31.72 billion dollars from 33.19 billion dollars, while net reserves were recorded at 27.29 billion dollars.

The ACU payment for May–June amounted to about 1.67 billion dollars. Earlier, Bangladesh paid 1.51 billion dollars for March–April, 1.37 billion dollars for January–February, 1.53 billion dollars for November–December, and 1.61 billion dollars for September–October. The ACU is a regional settlement system among nine Asian central banks, including Bangladesh, India, Iran, Nepal, Pakistan, Sri Lanka, Myanmar, Bhutan, and the Maldives.

The ACU mechanism allows participating countries to settle import and export payments every two months, unlike other international transactions that are settled immediately.

Malaysia has reopened its labor market for Bangladeshi workers, according to Expatriates’ Welfare and Overseas Employment Minister Ariful Haque Chowdhury. Speaking to journalists at Sylhet Circuit House on Tuesday, he said worker deployment could begin within one to two months under a new system. Bangladesh will now select recruiting agencies to ensure transparency in the hiring process.

The announcement comes less than two weeks after Prime Minister Tarique Rahman’s official visit to Malaysia, during which he discussed labor recruitment, regularization of irregular workers, and a free trade agreement with Malaysian Prime Minister Anwar Ibrahim. Malaysia had previously suspended worker recruitment from Bangladesh in March 2024 after irregularities resurfaced, following earlier closures and reopenings since 2018.

The minister also indicated that positive developments may soon follow regarding labor markets in the Middle East, Japan, and Mauritius. Authorities emphasized coordinated efforts between the government and recruiting agencies to prevent syndicates and corruption in the new recruitment framework.

The Bangladesh Energy Regulatory Commission (BERC) has reduced jet fuel prices for the third consecutive month, providing relief to the country’s aviation sector. According to a notification issued on Tuesday, the new July rates lower domestic jet fuel prices by 19.22 taka per liter, from 150.21 to 130.99 taka. For international routes, the price has been reduced from 0.9808 to 0.8556 US dollars per liter.

This marks a total reduction of 96.09 taka per liter over three months, following sharp price hikes in March and April when domestic rates rose by about 80 percent. The recent cuts follow a decline in global crude oil prices, prompting local adjustments in May and June. Industry stakeholders say the lower fuel costs will reduce operating expenses for both domestic and international flights, though ticket prices are unlikely to drop immediately.

Energy experts note that if global oil markets remain stable, further price adjustments may be possible in the coming months. However, geopolitical instability or supply disruptions could reverse the trend.

Saudi Arabia has introduced a new pilot package visa program aimed at simplifying travel procedures for foreign tourists. The initiative, announced on Tuesday, allows visitors to obtain a comprehensive travel package that includes a tourist visa, flight tickets, accommodation, and other essential travel services through approved travel and tourism providers.

According to the country’s state news agency, the program will initially be implemented through authorized agencies with digital platforms, technical capacity, and 24-hour customer service. Travelers will be able to book round-trip flights, licensed hotel stays, and apply for electronic tourist visas in one process, with options to add events and tourism activities. The initiative is part of Saudi Arabia’s Vision 2030 plan to boost the tourism sector, jointly managed by the ministries of tourism, foreign affairs, interior, and the insurance authority.

Officials expect the program to enhance the travel experience, strengthen tourism partnerships, and increase visitor spending and engagement in the country.

Sheltech Group, one of Bangladesh’s leading industrial conglomerates, has announced a new investment plan worth Tk 1,504 crore across agriculture processing, real estate, textiles, manufacturing, and renewable energy sectors. The company stated that the initiative could create around 45,000 new jobs, largely through contract farming. The announcement was made on July 7, 2026.

Founded in 1988, Sheltech Group operates in real estate, construction, tiles, electrical poles, agriculture, garments, textiles, and hospitality. The group said the new investments will support industrialization, export growth, employment, and sustainable economic development. Funding will come from internal resources, joint ventures, bank loans, and foreign financing. Managing Director Tanvir Ahmed said the expansion responds to growing global demand for Bangladeshi products.

The plan includes Tk 400 crore already invested in a Spain-Bangladesh agro joint venture in Parbatipur, Tk 575 crore for a 17-story green shopping complex in Banasree, Tk 85 crore in abrasive paper production in Sylhet, and Tk 179 crore to expand blended yarn capacity. Sheltech also plans to install 10 MW of solar power. The group expects annual turnover to rise from Tk 6,700 crore to Tk 9,200 crore by 2030.

U.S. President Donald Trump has claimed that Walmart reduced product prices at his administration’s request. In a social media post, Trump said the retail giant agreed to lower prices, including a 15 percent cut on ground beef, to mark the nation’s 250th anniversary. However, Walmart’s official statement made no mention of any government involvement, saying the decision was aimed at giving customers and Sam’s Club members better value during the summer season.

The announcement comes as Trump faces criticism over rising inflation during his tenure, which increased from 3 percent to 4.2 percent over the past year. The president has blamed Democrats for high prices and mocked them as “communists” ahead of the upcoming midterm elections. Walmart, which benefited from higher consumer traffic amid inflation, said it would also reduce prices on corn, cherries, ice cream, potato chips, and soft drinks.

According to the Bureau of Labor Statistics, inflation remains elevated, though a temporary truce with Iran has eased oil prices slightly, potentially reducing pressure on consumers.