Global oil prices fell sharply on Monday after US President Donald Trump announced that the Strait of Hormuz would reopen following a peace agreement between the United States and Iran, mediated by Pakistan. Brent crude dropped 4 percent to 83.81 dollars per barrel, while US crude fell 4.7 percent to 80.89 dollars. Pakistani Prime Minister Shehbaz Sharif said the formal signing ceremony would take place in Switzerland on June 19. Iranian Deputy Foreign Minister Kazem Gharibabadi confirmed the deal on state television.

The Strait of Hormuz, a vital route for about 20 percent of the world’s oil and LNG shipments, had been closed since February 28 after US and Israeli airstrikes in Iran. Tehran had threatened attacks on vessels using the route. The conflict had previously driven oil prices as high as 120 dollars per barrel, up from around 70 dollars before the war.

Energy analysts cautioned that oil transport through the strait would not immediately return to prewar levels, citing the need to clear mines and ease tanker congestion. Asian stock markets rose sharply as investors welcomed the agreement.

Bangladesh Bank has annulled the appointments of the chairman and all members of the board of directors of Islami Bank, the country’s largest Shariah-based bank. The decision was confirmed by Shahriar Siddiqui, assistant spokesperson of Bangladesh Bank, and was taken on Sunday under the authority of the Bank Company Act, 1991.

According to an official notice, the central bank stated that the move was made in the interest of depositors and the public. Under section 47(3) of the Bank Company Act, 1991, Bangladesh Bank’s executive director Mohammad Zahid Hossain has been assigned to exercise all powers and responsibilities of the dissolved board.

The announcement follows recent discussions between Islami Bank’s top officials and the governor of Bangladesh Bank, as well as ongoing concerns about depositor protection and governance within the banking sector.

The government has issued the revised Trading Corporation of Bangladesh (TCB) Dealer Appointment and Management Policy 2025 to make subsidized goods distribution among low-income families more transparent and accountable. The updated policy, released in June 2026, restricts dealership applications exclusively to genuine grocery traders holding updated trade licenses. It also disqualifies all categories of salaried employees, including those in government, semi-government, autonomous, private, and MPO-listed educational institutions.

The new policy introduces several administrative changes, such as mandatory physical presence of dealers during official inspections, increased security deposit requirements from 30,000 to 50,000 taka, and a shortened renewal grace period of one month with a fine. It also allows district commissioners to appoint substitute dealers from nearby areas to ensure uninterrupted supply of essential goods. The 2025 and 2021 policies have been repealed with the issuance of this revised version.

According to the Ministry of Commerce, the revision was prompted by operational complexities and weak oversight found in the earlier policy. Currently, 8,273 dealers operate across the country, with new appointments and contract cancellations ongoing.

The Bangladesh Association of Banks (BAB) has called for the rapid identification, legal recovery, and return of embezzled or looted funds from the country’s banking sector to protect depositors’ interests. In a press release issued on Sunday, the organization welcomed the proposed national budget for fiscal year 2026–27, noting the government’s allocation of about Tk 40,000 crore for weak banks as a key step toward restoring stability.

BAB emphasized that the recapitalization effort will only be effective if accompanied by strong measures to recover stolen assets and hold those responsible accountable. It urged visible and strict actions against willful defaulters and individuals who have harmed the banking system, warning that they should not be allowed to re-enter the sector. The association also proposed establishing an asset management company to reduce non-performing loans and strengthen bank balance sheets.

BAB cautioned that recapitalization without effective recovery would bring only temporary relief. It called for equal emphasis on reform, recovery, and accountability to ensure sustainable growth and maintain public trust in the banking system.

Bangladesh received a $1 billion loan from the Asian Development Bank (ADB) as budget support, raising the country’s gross foreign exchange reserves to $35.63 billion by Sunday, the highest in 43 months. The reserves stood at $34.59 billion on Thursday, according to Bangladesh Bank spokesperson Arif Hossain Khan.

Under the International Monetary Fund’s BPM6 accounting method, reserves reached $31.07 billion. Earlier, on January 19 of this year, reserves exceeded the $30 billion mark for the first time under BPM6 reporting, which began in June 2023 when reserves were $24.75 billion. The highest reserve level in Bangladesh’s history was $48 billion in August 2021, but it declined sharply afterward due to increased capital outflows and a rising dollar rate from 84 to over 120 taka.

At the time of the Awami League government’s fall, reserves under BPM6 had dropped to $20.48 billion, marking a significant low before the recent recovery.

India’s latest Sample Registration System (SRS) report shows the country’s total fertility rate has fallen to 1.9 children per woman, below the replacement level of 2.1. Two decades ago, the rate stood at 3.3. Experts attribute the decline to higher education levels, career focus, rising living costs, and growing emphasis on personal freedom. Many couples now choose to delay or forgo parenthood altogether.

Specialists note that educated and financially independent women are increasingly prioritizing careers and self-development over traditional expectations of marriage and motherhood. The availability of fertility options such as egg freezing, now offered by over 2,000 centers, allows women to delay childbirth. Meanwhile, India’s infant mortality rate has dropped from 30 per 1,000 live births in 2019 to 24 in 2024, further influencing smaller family sizes.

Regional disparities remain: Bihar and Uttar Pradesh record higher fertility rates of 2.9 and 2.6, while Delhi, Tamil Nadu, and Kerala report rates near 1.2–1.3. Some states, including Andhra Pradesh, have introduced cash incentives for additional births, but experts argue that addressing underlying social and economic factors will be more effective than urging larger families.

Acting Managing Director of Islami Bank, Altaf Hossain, announced that customer service quality will improve starting tomorrow despite ongoing liquidity challenges and heavy withdrawal pressure. He made the statement after a meeting with Bangladesh Bank officials, including Governor Mostakur Rahman, where the bank’s liquidity situation and operational stability were discussed. The central bank has provided Islami Bank with cash support for the first time to help maintain normal operations.

Hossain stated that daily withdrawals currently range between Tk 1,100 crore and Tk 1,200 crore, yet efforts continue to ensure uninterrupted service. He said the bank’s current account position is now positive, and internet banking services will soon be fully restored. The acting MD described the chairman appointment issue as political, not managerial, and emphasized that management’s main responsibility is to maintain business and customer service continuity.

In a video message, Hossain apologized for recent service disruptions, assured depositors that their funds are safe, and urged customers not to withdraw more than necessary. He expressed confidence that, with central bank assistance and customer cooperation, the bank will soon return to full normalcy.

Bangladesh Bank Governor Mostakur Rahman held a meeting with senior officials of Islami Bank on Sunday afternoon at the central bank’s headquarters. The meeting began at 4 p.m., confirmed Assistant Spokesperson Shahriar Siddiqui of Bangladesh Bank. According to him, the purpose of the courtesy meeting was to brief the governor on the bank’s current overall situation and the latest updates on its business activities.

A high-level delegation from Islami Bank attended the meeting, led by the bank’s acting Managing Director. The team also included two Additional Managing Directors and six Deputy Managing Directors. The delegation was expected to inform the governor about the bank’s ongoing operational status.

The meeting comes amid continued attention to Islami Bank’s internal and business affairs, as the institution seeks to strengthen its service quality and maintain regulatory communication with Bangladesh Bank.

Bangladesh Bank has provided a special loan of Tk 25 billion to Islami Bank to address its liquidity crisis. The assistance was extended on Sunday, according to information from the bank. The crisis intensified after the appointment of a new chairman following Eid, which triggered protests by a group of customers under the banner of the 'Conscious Customer Forum'. Many depositors began withdrawing their funds, worsening the bank’s liquidity position.

As a result, Islami Bank failed to meet customer withdrawal demands and could not maintain the required cash reserve ratio (CRR) with the central bank. Last week, the bank sought Tk 100 billion in liquidity support from Bangladesh Bank, which responded by providing an initial Tk 25 billion. During a post-budget press conference on Friday, Bangladesh Bank Governor Mostakur Rahman had hinted at such support, assuring that depositors would face no withdrawal problems.

The central bank’s intervention aims to stabilize Islami Bank’s operations and restore depositor confidence amid ongoing unrest over leadership changes.

Tea growers in Panchagarh are struggling to protect their crops as leafhopper and red mite infestations spread amid a severe fertilizer shortage. The crisis has intensified during the peak leaf-picking season, with farmers unable to apply urea and DAP fertilizers on time due to the absence of allocations for the tea sector across five districts in the Rangpur division.

According to the Bangladesh Tea Board’s 2025 data, the region has over 8,400 small-scale tea gardens producing nearly 9.77 crore kilograms of green leaves annually, contributing more than 21 percent to national tea output. Farmers report that adverse weather has worsened pest attacks and increased production costs, while local agriculture offices say fertilizer allocations for tea fall under the Commerce and Industries ministries, not the Agriculture Department.

Officials from the Bangladesh Tea Board’s Panchagarh office said a request for fertilizer allocation has been sent to the ministries. Tea growers from Rangpur’s five districts have appealed to local administrators and lawmakers for urgent intervention to secure fertilizer and pesticide supplies.

The government of Bangladesh has decided to withdraw the tax exemption on income earned from investments in zero coupon bonds issued by banks, insurance companies, financial institutions, or other corporations. The exemption, previously granted under the Sixth Schedule of the Income Tax Act 2023, will no longer apply from the next fiscal year. The Finance Bill 2026 proposes the repeal of the relevant clause, as presented in the National Parliament by Finance Minister Amir Khasru Mahmud Chowdhury. The change also covers zero coupon Islamic certificates.

Alongside this measure, the 20 percent tax on company dividends has been withdrawn, and the rule requiring inclusion of such income in total taxable income for non-corporate taxpayers has been canceled. The Finance Bill 2026 also introduces a new condition for tax rebates on investments in government securities, mutual funds, and similar instruments: investors must now hold investments for the full term to retain the rebate.

Officials explained that the new condition aims to encourage long-term savings and prevent early withdrawals that undermine the purpose of tax incentives.

The BNP government has announced a national budget of Tk 9.38 trillion for the 2026–27 fiscal year, with Tk 43,335 crore allocated jointly to the agriculture, food, and fisheries and livestock ministries. This represents 0.63 percent of GDP and 3.2 percent of the total budget, a modest rise from the previous year’s Tk 37,126 crore. However, the budget does not specify how much each ministry will receive separately, leaving unclear the exact allocation for agriculture. The author argues that the increase is insufficient given the sector’s challenges and its importance to national food security.

The article highlights that the government’s focus remains on food storage and procurement rather than direct support for farmers. It criticizes the continued emphasis on fertilizer and pesticide subsidies, which benefit chemical companies more than farmers. The piece also notes that recent diesel shortages and untimely rains devastated Boro rice crops, affecting about 200,000 farmers, yet the budget offers no relief measures. The author warns that neglecting agriculture and fisheries endangers food and nutrition security and undermines the livelihoods of millions dependent on these sectors.

Global gold prices have declined sharply even amid the ongoing conflict involving the United States, Israel, and Iran in the Middle East. On January 28, gold reached 5,303 dollars per ounce but dropped to 4,235 dollars by June 12. Analysts attribute the fall to concerns that central banks will not cut interest rates due to persistent inflation, and may even raise them further to control prices.

The crisis in the Strait of Hormuz has disrupted oil and gas supplies, driving energy prices higher and fueling global inflation. In the United States, inflation has reached a three-year high of 4.2 percent, while a stable labor market has reduced the likelihood of near-term rate cuts. Experts note that gold, which yields no dividends, loses appeal when interest rates and the dollar strengthen.

Reports of a possible US-Iran agreement recently provided slight relief, lifting gold prices marginally. However, analysts caution that even if the war ends, multiple factors will continue to influence gold’s performance in the coming months.

Elon Musk has reportedly become the world’s first trillionaire after SpaceX’s stock market listing pushed his net worth beyond one trillion dollars. According to Fortune magazine, SpaceX’s valuation reached 1.77 trillion dollars following its initial public offering, boosting the combined value of Musk’s holdings in SpaceX and Tesla.

Despite his immense wealth, Musk continues to live a modest life. He resides in a small prefabricated house near SpaceX’s Starbase in Boca Chica, Texas. The house, built by housing startup Boxabl, measures only 20 feet by 20 feet and includes a living area, bedroom, kitchen, and bathroom. Musk previously stated that he rents the home from SpaceX for about 50,000 dollars. After moving from California to Texas in 2020, he sold most of his luxury properties, though some large houses remain under company ownership in Austin’s West Lake Hills area.

Musk’s simple lifestyle has drawn mixed reactions on social media, with some praising his minimalism and others suggesting it may be a public image strategy.

Bangladesh’s proposed national budget for the 2026–27 fiscal year has been set at 9.38 trillion taka, a figure described as significant within the country’s economic context. However, a comparison with the personal wealth of Elon Musk, recently reported to have surpassed one trillion US dollars following the stock market listing of SpaceX, reveals a striking disparity.

Based on an exchange rate of 122–125 taka per dollar, Musk’s total assets are valued between 134 and 138 trillion taka. This amount equals roughly 14 times the size of Bangladesh’s entire national budget for the upcoming fiscal year. The report highlights that the sum Bangladesh allocates annually for administration, education, health, infrastructure, defense, and social safety programs is equivalent to only one fourteenth of Musk’s declared wealth.

The comparison underscores the vast global wealth gap, illustrating how the fortune of a single individual can exceed the annual financial capacity of a developing nation.