The European Union (EU) and the Group of 77 and China have reaffirmed their support for Bangladesh’s efforts to ensure a smooth, sustainable, and irreversible graduation from the Least Developed Country (LDC) category. The assurance came during two separate meetings at the United Nations headquarters, where Bangladesh’s Commerce Minister Khandaker Abdul Muktadir met with EU Ambassador Stavros Lambrinidis and G77 Chair Ambassador Laura Dupuy Lasserre of Uruguay.

During the discussions, the commerce minister highlighted Bangladesh’s request to extend the LDC transition period by three years, citing ongoing economic and political transformation, global economic uncertainty, and energy challenges. He reiterated the government’s commitment to strengthening governance, improving the financial sector, expanding infrastructure, mobilizing domestic resources, and fostering an investment-friendly environment.

Ambassador Lambrinidis praised Bangladesh’s commitment to good governance and sustainable development, welcomed the initiation of Bangladesh-EU free trade agreement talks, and assured continued EU support. Ambassador Lasserre endorsed Bangladesh’s rationale for extending the transition period and proposed a separate G77 briefing on Bangladesh’s graduation strategy, which the delegation welcomed.

In Dubai, widespread job losses have followed the outbreak of war involving the United States, Israel, and Iran. Migrant workers, including domestic helpers and accountants, are struggling to find employment as the city’s tourism- and aviation-driven economy suffers from Iranian missile and drone attacks. Many wealthy expatriates have left, while low- and middle-income workers face layoffs and pay cuts. The government has released little data on the economic damage, though the UAE’s economy and tourism minister described the disruption as temporary.

Workers from countries such as the Philippines, India, Egypt, and Cameroon report severe financial strain, with some unable to send remittances home. A ManpowerGroup survey found that one in four employers plans to reduce staff in the third quarter of 2026. Dubai Investments’ CEO expressed confidence in the city’s resilience, citing its history of recovery from crises. However, the downturn’s impact is extensive, threatening livelihoods and remittance flows across Asia and Africa.

Although a ceasefire between the United States and Iran has been reached, uncertainty over renewed conflict continues to weigh on Dubai’s labor market and economic outlook.

Finance and Planning Minister Amir Khosru Mahmud Chowdhury said the government is tirelessly distributing relief to flood-affected people, but ensuring their rehabilitation will be the biggest challenge. He made the remarks on Friday, July 17, 2026, while speaking to journalists after distributing relief at West Amirabad Government Primary School field in Lohagara, Chattogram. The minister stated that around 700,000 people in Chattogram district have been affected by the floods, and relief has already reached about 100,000 individuals through coordinated government efforts.

He emphasized that the government is focusing on agriculture, fisheries, livestock, housing, and health sectors to restore livelihoods. Efforts are underway to assist farmers, fish farmers, and poor families whose crops, livestock, and homes were damaged. Measures are also being taken to ensure medical treatment for those suffering from flood-related diseases.

The minister praised charitable individuals, social organizations, and voluntary institutions for their contributions and urged everyone to continue supporting rehabilitation activities as part of their humanitarian responsibility.

Badiur Rahman has been elected chairman of the board of directors of Al-Arafah Islami Bank PLC, while Selim Rahman has been chosen as chairman of the bank’s executive committee. The decisions were made unanimously at the bank’s 464th emergency board meeting held on Thursday.

Badiur Rahman, one of the founding directors of the bank, previously served as chairman from 2008 to 2016, during which the bank achieved notable growth. He is also a director of several business and social organizations, including AIBL Capital Market Services Limited, Central Hospital Limited, and Hardco International School. Upon assuming his new role, he noted that the appointment comes at a challenging time, as Bangladesh Bank has again appointed an observer to the institution, and he expressed hope for renewed progress with collective effort.

Selim Rahman, the newly elected executive committee chairman, is the managing director of KDS Group and has previously served two terms as chairman of Al-Arafah Islami Bank in 2021 and 2024. He is also the first vice president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Bangladesh’s position in the European Union’s apparel export market has weakened significantly in early 2026. According to Eurostat data, from January to May 2026, Bangladesh recorded the steepest decline among the EU’s top ten garment suppliers. The country’s apparel exports to the EU fell by 18.89 percent to 7.28 billion euros, with export volume down 10.46 percent and average unit price dropping 9.41 percent. In May alone, export earnings declined 17.12 percent, reflecting both lower demand and falling prices.

The overall EU apparel import market contracted by 9.96 percent year-on-year to 33.84 billion euros, driven by a 6.46 percent drop in import volume and a 3.74 percent fall in average prices. While Bangladesh suffered the most, competitors such as China and Vietnam showed more resilience. China’s export value fell only 4.20 percent while its shipment volume rose 1.96 percent, and Vietnam maintained higher income through increased unit prices.

Analysts cited in the report view Bangladesh’s simultaneous decline in both export volume and price as a sign of deeper structural challenges in competitiveness, product diversification, and market strategy. They warned that prolonged weakness in the EU market could negatively affect the country’s overall economy unless efficiency and product value are improved.

Global crude oil prices increased following continued retaliatory attacks between the United States and Iran. On Friday, the international benchmark Brent crude rose by more than one percent, surpassing 85 dollars per barrel, while US West Texas Intermediate (WTI) crude climbed to nearly 80 dollars. The gains erased the previous day's losses in the oil market.

Throughout the week, both Brent and WTI prices rose by about 12 percent. Brent marked its third consecutive week of price increases, and WTI recorded its second straight week of gains. The rise in oil prices also affected stock markets in Asia, where trading turned downward on Friday morning. Japan’s main stock index, the Nikkei 225, fell by more than three percent at the start of the day’s trading.

The report links the oil price surge directly to geopolitical tensions between the United States and Iran, which have intensified through ongoing reciprocal attacks.

The International Monetary Fund (IMF) has announced that discussions with Bangladesh on a potential new loan will continue over the next few months. The talks will focus on the size of the loan, the scope of the program, and the reform commitments tied to it. The statement followed a five-day visit to Dhaka by an IMF mission led by Ivo Krznar, which concluded on Thursday. The mission reviewed Bangladesh’s recent economic and financial conditions and discussed the government’s reform priorities.

According to the IMF, Bangladesh’s economic growth may slow to 3.5 percent, and could fall below 3 percent in the medium term if fiscal and banking sector pressures persist. The mission noted that inflationary pressures, rising subsidy costs, and external balance challenges have intensified due to higher global commodity prices and supply disruptions linked to the Middle East conflict. However, remittance inflows remain strong. The IMF emphasized the need for stronger revenue collection, rational subsidy reforms, and targeted social protection to support vulnerable groups.

The IMF also recommended maintaining tight monetary and prudent fiscal policies to control inflation and rebuild reserves, and implementing the 2025 crawling peg exchange rate system to enhance external stability.

Prime Minister’s Special Assistant (Health) Dr. S.M. Ziauddin Haider announced that separate development projects worth about Tk 800 crore have been undertaken for Jhalakathi district. The plan includes construction and improvement of rural roads, bridges, culverts, and other infrastructure. He made the announcement on Thursday morning at a development and assistance distribution meeting held at the Jhalakathi Sadar Upazila Parishad auditorium.

Dr. Haider said that Tk 150 crore has been allocated for building the country’s first Cultural Village in Jhalakathi. Land acquisition has started for a modern sports complex, which has been included in the Annual Development Programme. The complex aims to promote youth sports participation, reduce drug abuse, and create employment opportunities through trainer recruitment. He also mentioned that steps are being taken to protect the Sarengal Bazar area of Keora Union from river erosion and that the process to upgrade Jhalakathi Sadar Hospital to 250 beds is progressing.

At the end of the event, assistance was distributed among people with disabilities, farmers, and families affected by fire incidents.

The Ministry of Finance announced on Thursday that the monthly car maintenance allowance for government officials, from deputy secretaries to top-level officers, will remain at Tk 50,000. A previous initiative to reduce the allowance by half, to Tk 25,000, has been withdrawn. The decision was confirmed through an official circular issued by the ministry.

The allowance applies not only to civil government officials but also to officers in the judiciary, the Election Commission, and the armed forces. Over the past week, the finance division and the Ministry of Public Administration exchanged letters regarding the proposed reduction, which reportedly caused dissatisfaction among many officials.

The finance division sent a letter to the Ministry of Public Administration on Thursday afternoon instructing that no further action be taken on the earlier proposal made on July 9. As a result, the existing monthly car maintenance allowance of Tk 50,000 remains unchanged.

In Cumilla’s Titas upazila, a canal re-excavation project under the Prime Minister’s Special Priority Program and the Employment Generation Program for the Poorest (EGPP) failed to meet its completion deadline. The upazila administration returned Tk 4,556,703 of unused funds to the government treasury to ensure transparency and accountability in public spending. The project, inaugurated by the local Member of Parliament, aimed to restore water flow, improve drainage, and boost agricultural productivity across a three-kilometer stretch from Darigaon Kathalia River to Gangaprasad.

According to the Project Implementation Office, only 1.067 kilometers of the canal were re-excavated before the June 30 deadline, with Tk 3,172,000 spent on wages, equipment, and transport. Local farmers said the incomplete work left persistent problems of waterlogging during monsoon and irrigation shortages in the dry season. Project Implementation Officer Saidul Islam stated that the remaining funds were returned as per government rules.

Officials said future projects will emphasize stronger planning and supervision to ensure timely completion and full benefits for local residents.

The National Board of Revenue (NBR) is preparing to begin online income tax return submissions for individual taxpayers by the last week of July 2026. Although the fiscal year has already started, the filing process has not yet opened. NBR sources said preparations are nearly complete, and the system will launch soon to facilitate early submissions under a new incentive scheme. The initiative follows last year’s policy that made online filing mandatory for most individual taxpayers, excluding five specific categories.

According to NBR officials, corporate entities will also be brought under the online filing system for the first time, though that process may take two to three more months. The software provider Synosis IT is upgrading the system to align with recent tax law changes and plans to hand it over to NBR by July 20 for review. NBR is also working with Bangladesh Bank and commercial banks to enable automatic inclusion of banking data in tax returns, though this will remain optional.

Officials believe automated data integration with banks and other agencies could reduce tax evasion and increase government revenue collection.

Global gold prices dropped sharply on Thursday, July 16, 2026, as escalating conflict in the Middle East heightened investor anxiety over inflation and potential interest rate hikes. At 9:49 a.m. Bangladesh time, spot gold fell 0.6 percent to 4,034.42 dollars per ounce, while U.S. August futures declined 0.3 percent to 4,039.90 dollars. Analysts linked the decline to rising oil prices and renewed geopolitical tensions.

According to IndusInd Securities senior research analyst Jigar Trivedi, continued attacks between the United States and Iran have driven oil prices higher, reviving inflation fears and pressuring the gold market. The U.S. carried out two strikes on Iranian coastal defenses and missile bases and reimposed naval blockades, prompting retaliatory attacks by Iran on U.S. military sites in neighboring countries. Tehran described the confrontation as an “existential struggle.”

Although U.S. inflation eased slightly in June due to lower energy costs, markets remain uncertain about the Federal Reserve’s next moves. CME FedWatch data indicated a 73 percent probability of a rate hike in December. Fed officials reaffirmed their commitment to controlling inflation, while prices of silver, platinum, and palladium also fell alongside gold.

The government of Bangladesh has yet to finalize the long-awaited ninth national pay scale for public servants. A meeting of the National Pay Commission-2025 recommendation committee, chaired by Cabinet Secretary Nasimul Gani, was expected to approve the new structure but instead decided to conduct further reviews on key financial and administrative issues. The final recommendations will be sent to the Cabinet after several more meetings.

According to officials, the new pay structure will apply to civil servants, judicial officers, and members of the armed forces. The government is proceeding cautiously due to the financial impact and implementation schedule. The commission had proposed raising basic salaries by 100–140 percent, with the lowest grade increasing from Tk 8,250 to Tk 20,000 and the highest from Tk 78,000 to Tk 160,000. IMF’s warnings on expenditure control were also discussed, but policymakers emphasized domestic economic realities, including inflation and reduced purchasing power.

Economists believe the new pay scale could boost consumption but also raise government spending. The Cabinet’s decision and subsequent finance ministry notification will determine when the new structure takes effect.

Speakers at a seminar in Barishal on Wednesday called for upgrading the Bhanga–Kuakata highway to six lanes, citing its narrow condition as a major obstacle to industrialization in Bangladesh’s southern coastal region. The discussion took place at a divisional workshop on industrial survey organized by the Bangladesh Investment Development Authority (BIDA), where participants highlighted the need for improved infrastructure to support investment and regional development.

Barishal Divisional Commissioner Khalil Ahmed said the region has not attracted the expected level of investment and lacks major factories. He noted that large tracts of acquired land in Patuakhali and near Payra Port remain unused. Speakers emphasized that developing industries based on local resources such as hilsa fish, coconut, betel nut, and guava could accelerate economic growth. They also underscored Kuakata’s potential as a tourism hub if infrastructure and services are expanded.

Participants agreed that the poor condition of the Bhanga–Kuakata road discourages investors and hampers transport of raw materials, goods, and tourists. They argued that a six-lane upgrade could open a new era for industrial and tourism development in the southern region.

State Minister for Fisheries and Livestock Sultan Salauddin Tuku announced that a comprehensive list of entrepreneurs in the fisheries and livestock sectors will be prepared to ensure sustainable development. He made the statement on Wednesday during a virtual meeting with divisional directors of fisheries and livestock, held at the ministry’s conference room.

Tuku said that a national database will be created through coordination among divisional, district, and upazila-level officials to collect information on farmers and entrepreneurs. He emphasized that educated youth engaging in commercial and science-based farm management can enhance productivity, create employment, and strengthen food security. The minister noted that planned use of inputs reduces production costs and increases profitability, while unplanned use leads to financial losses.

He added that after the list is prepared, divisional meetings will be held with farmers to gather opinions on challenges and opportunities, helping formulate realistic policies and action plans. The government, he said, is committed to strengthening the sector in line with Prime Minister Tarique Rahman’s emphasis on entrepreneurship, employment, and production growth.