OPEC+ has announced it will raise crude oil production by 548,000 barrels per day in August, exceeding earlier plans. The group, which includes OPEC members and allies like Russia, cited a stabilizing global economy and declining oil inventories for the move. This follows earlier increases in May, June, and July. However, the news caused global oil prices to drop, with Brent and WTI falling by 0.7% and 0.75%, respectively, on Friday. Analysts attribute the price dip to anticipated market oversupply.

Imports of dried turmeric through Satkhira’s Bhomra land port rose to 32,291 tonnes in FY 2024–25, up 1,841 tonnes from the previous year. The increase, valued at BDT 542.54 crore, is driven by growing demand. As a result, prices of ground turmeric have fallen in local markets—from BDT 320 to BDT 280 per kg. Traders report higher supply, while officials monitor prices of other spices to ensure market stability. Imports are being distributed across major regions including Dhaka and Chattogram.

LNG prices in Asia's spot market fell this week due to increased supply, weaker industrial demand from China and India, and high inventory levels in China and South Korea. Eased geopolitical tensions between Iran and Israel also contributed to price stability. LNG for August delivery traded at $12.70 per MMBtu, down from $13.10 last week. Analysts expect prices to remain under pressure, though rising temperatures could spur future demand. European LNG prices also remained stable amid low global demand.

The U.S. national debt has now exceeded $33 trillion, sparking global concern among economists and policymakers. Analysts warn that former President Donald Trump's “Big Beautiful Budget Bill,” which includes significant tax cuts, could increase the debt by an additional $3 trillion. Financial expert Ray Dalio cautioned that the U.S. is at a tipping point, with three alarming paths ahead: slashing public spending and increasing taxes, printing more dollars, or facing a catastrophic default. Although the situation is grave, experts believe the crisis might be delayed due to the lack of a viable alternative to the U.S. dollar in global finance.

The Bangladesh Textile Mills Association (BTMA) has expressed deep concern over the government’s decision to impose a 2% advance income tax without prior discussion. At a press conference in Gulshan, industry leaders warned this measure—coming amid severe crises in gas supply, electricity, and bank loans—could devastate the sector. “Is this policy designed to destroy local industries and benefit our neighbors?” one leader asked. The association demanded the tax’s withdrawal within seven days, threatening factory closures if their call goes unheeded. They stressed that $75 billion in investments and the national economy itself are now at risk.

Dr. Salehuddin Ahmed, Economic Adviser to the interim government, cautioned that increasing interest rates on savings certificates could lead to a liquidity crisis in the banking sector. “Higher returns will drive people away from banks and toward savings instruments,” he warned during a meeting with government officials in Nabinagar. He emphasized the need for balanced policymaking and noted that steps are being taken to rehabilitate struggling banks. He also confirmed the formulation of a “Bank Resolution Act” to protect customer deposits and address instability within the National Board of Revenue (NBR).

The National Board of Revenue (NBR) has introduced an online system enabling importers and exporters to pay customs duties through automated challans from home. This initiative, integrated with internet banking and mobile financial services, allows goods to be cleared from ports faster and more efficiently. Already active in several customs houses, the system will be rolled out nationwide from July 7. The move is expected to boost transparency, improve government revenue collection, and ensure immediate deposit of funds into the state treasury.

The Registrar of Joint Stock Companies and Firms (RJSC) has allegedly removed Novartis Bangladesh Limited's information from its website without legal grounds, prompting concerns among legal experts and foreign investors. The company profile has been locked, blocking any share transfers despite no pending litigation or court orders.

Despite two formal requests from the company, the profile remains inaccessible. When contacted, the registrar's office stated that any clarification must be sought in person, adding to the frustration surrounding the lack of transparency.

Bangladesh Bank Governor Dr. Ahsan H. Mansur has stated that the Rooppur Nuclear Power Plant and the railway section of the Padma Bridge project cost nearly twice the estimated amount. The Rooppur project, he said, could have been completed for $6 billion but ended up costing $13 billion. The railway bridge expenses were described as unnecessarily extravagant. Dr. Mansur criticized policymakers for prioritizing personal gain over national interest and vowed to bring back funds that were illicitly transferred abroad.

Bangladesh has finalized a draft trade agreement with the United States aimed at reducing the bilateral trade imbalance. Commerce Secretary Mahbubur Rahman stated that both parties are optimistic about reaching a mutually beneficial deal before proposed U.S. tariffs take effect. Bangladesh has proposed increasing imports of U.S. wheat, cotton, oil, and Boeing aircraft. Former President Trump had postponed the imposition of a 37% tariff until July 9. In 2024, Bangladesh exported $8.36 billion worth of goods to the U.S. while importing $2.21 billion. So far, 28 meetings and document exchanges have taken place as part of the negotiation process.

The United States has imposed new sanctions on individuals, entities, and vessels involved in smuggling Iranian oil under the guise of Iraqi exports. The U.S. Treasury revealed that the network, led by Iraqi-British national Salim Ahmed Said, has sold billions of dollars’ worth of Iranian oil since 2020 using falsified documents. Additionally, senior officials of Al-Qard Al-Hassan, a Hezbollah-linked financial institution in Lebanon, have been sanctioned. Their assets have been frozen, and all business dealings with U.S. citizens are now prohibited.

The Bangladesh Textile Mills Association (BTMA) has urged the government to reconsider its proposed tax increases in the FY2025–26 budget. The new budget includes a 2% advance income tax (AIT) on cotton imports and an increased VAT on yarn. BTMA warned that these measures would raise production costs, reduce working capital, and undermine the competitiveness of the textile industry, especially amid rising utility prices and other economic challenges. The association called for immediate action to reverse these policies and ensure smooth industrial operations.

Despite the immense potential of Bangladesh’s semiconductor industry, the country has yet to establish a strong foothold in the $600 billion global market, said BIDA Executive Chairman Chowdhury Ashiq. He stated that Bangladesh currently earns only $6 million from this sector. However, he expressed optimism that investments worth several hundred million to billions of dollars could flow into the industry over the next five years. The government aims to expand participation through chip design, packaging, and skill development initiatives. The National Semiconductor Task Force has submitted 23 recommendations to the Chief Adviser to guide short, medium, and long-term strategies for developing this critical industry.

India has only one week to finalize a trade deal with the United States or risk facing higher tariffs on its exports. President Trump made it clear that India must grant American businesses access to its markets, particularly for agricultural goods, dairy products, and genetically modified crops. However, India is pushing for a narrower agreement excluding these sectors. Analysts say lowering tariffs could trigger severe political backlash against the BJP, as most Indian farmers are small or medium-scale producers. While Delhi has shown willingness to compromise on some areas, it is holding firm in key sectors.

Bangladesh has approved the import of 17 LNG cargoes from UAE-based OQ Trading Limited to address short-term energy needs. Five shipments will arrive in 2025 and twelve in 2026, with prices based on the JKM index plus 15 cents per MMBtu. The government also approved fertilizer imports from the UAE, China, and Saudi Arabia, and increased budgets for several development projects, including water transport and power substations. These decisions aim to ensure energy security, food production support, and infrastructure development.