In Sitakunda, Chattogram, discarded lifeboats from shipbreaking yards have become the foundation of a thriving multimillion-taka trade. Once considered waste, these sea-rescue vessels are now collected, repaired, and modernized for reuse across Bangladesh. The refurbished boats are being deployed in coastal, riverine, and tourism areas for fishing, passenger transport, and disaster rescue operations.

A bustling market for these boats has emerged in areas such as Bhatiari, Madam Bibirhat, Modonhat, Kadamrasul, Shitalpur, and Sonaichhari. Business owners acquire lifeboats through tenders from shipyards stretching from Faujdarhat to Chhoto Kumira, then refurbish them with fiber work, paint, and new engines. Prices range from Tk 50,000 for basic fiber boats to Tk 550,000 for high-speed rescue models. Traders report growing demand due to durability, low maintenance, and safety advantages over wooden boats.

Local entrepreneurs say the reuse of shipbreaking materials has created a new economic identity for Sitakunda, boosting opportunities in the marine, fisheries, and tourism sectors. With technical support and financing, the region could become a major national hub for recycled watercraft.

The government has issued a gazette maintaining the registration renewal fee for insurance companies in 2026 at one taka per thousand taka of gross premium. The Financial Institutions Division of the Ministry of Finance published the notification on July 19, confirming that the previous rate would remain in effect for the upcoming renewal period.

Earlier, on February 4, the division had raised the renewal fee to two taka fifty paisa per thousand taka of gross premium, which drew strong opposition from private life and general insurance companies. The Bangladesh Insurance Association (BIA) described the increase as an unreasonable financial burden on the industry and demanded its withdrawal. Despite the objections, the higher rate was initially enforced through a June 23 directive.

Following continued appeals from insurance companies, the Insurance Development and Regulatory Authority (IDRA) recommended retaining the earlier rate. Acting on this recommendation, the government decided to keep the 2026 renewal fee unchanged, easing financial pressure on the sector.

A total of Tk 2,800 crore in microloans will be provided during the 2026–27 fiscal year under the Credit Enhancement Scheme (CES) implemented by the Palli Karma-Sahayak Foundation (PKSF). The loans will be extended by 11 banks and one financial institution to PKSF’s partner organizations. The agreement was signed on Tuesday at PKSF Bhaban-1 in Agargaon, Dhaka, with PKSF Deputy Managing Director Muhammad Hasan Khaled and representatives of the participating banks signing on behalf of their institutions.

The participating institutions include Brac Bank, City Bank, Prime Bank, NCC Bank, Trust Bank, Southeast Bank, Mercantile Bank, Commercial Bank of Ceylon, Dhaka Bank, Madhumati Bank, Shimanto Bank, and the UAE-Bangladesh Investment Company Limited (UBICO). PKSF Managing Director Md. Fazlul Kader stated that the scheme aims to formally engage commercial banks in transforming low-income individuals into entrepreneurs. Under the scheme, PKSF’s partner organizations will distribute the loans to small entrepreneurs, with PKSF providing loan guarantees and ensuring proper utilization through close monitoring.

The CES began operations on July 1, 2025. In its first year, 10 banks and one financial company signed agreements with PKSF, disbursing Tk 1,082 crore to 26 partner organizations for small enterprise financing.

The Government of Bangladesh has announced new air travel privileges for expatriate cardholders, including discounted air tickets, access to the Balaka Lounge, and priority check-in and boarding. Civil Aviation and Tourism Minister Afroza Khanam revealed the initiative during a briefing at the ministry’s conference room on Tuesday, emphasizing that these benefits will be provided through the expatriate card system.

The meeting was attended by Expatriates’ Welfare and Overseas Employment Minister Ariful Haque Chowdhury, State Minister for Civil Aviation and Tourism M. Rashiduzzaman Millat, and other senior officials. Afroza Khanam stated that the government is committed to ensuring hassle-free air services for expatriates and has already introduced a shuttle bus service at Hazrat Shahjalal International Airport. Millat added that the ministry is also considering special discounts for expatriates at Bangladesh Tourism Corporation hotels and motels.

The initiative aligns with the government’s election manifesto, aiming to strengthen facilities for Bangladeshi expatriates and improve their travel experience through coordinated efforts between relevant ministries.

Owners of CNG filling stations in Bangladesh have announced an indefinite strike starting August 23, 2026, demanding an increase in their sales commission. The announcement came at a press conference held in Bijoynagar, Dhaka, on Tuesday, organized by the Bangladesh CNG Filling Station and Conversion Workshop Owners Association. As a preliminary step, the owners plan a symbolic one-day strike on July 30 from 6 a.m. to midnight if their demands are not met.

According to the association, the current commission rate of Tk 8 per cubic meter has remained unchanged for about 11 years, despite rising inflation, higher minimum wages, increased dollar value, and growing operational costs. The owners argue that continuing operations under the existing rate has become financially unsustainable.

The association presented four demands to the government: raising the commission to at least Tk 13.96 per cubic meter, introducing an automatic adjustment mechanism for future fuel price changes, abolishing the practice of collecting additional deposits from old customers, and reducing various government license and renewal fees to reasonable levels.

A new project worth Tk 685.86 crore to protect Bhola Sadar and Daulatkhan upazilas from severe erosion of the Meghna River is set to be placed before the Executive Committee of the National Economic Council (ECNEC) on Wednesday. The project, fully funded by the government, aims to reduce risks of erosion, tidal surges, and waterlogging through riverbank protection, coastal embankment rehabilitation, slope protection, and drainage infrastructure construction.

Before submission to ECNEC, the Planning Commission’s Project Evaluation Committee (PEC) raised objections, particularly over the high cost of Tk 505 crore for only four kilometers of riverbank protection, calling for a cost review. After minor adjustments, the cost was reduced to Tk 503.77 crore, and a revised proposal was resubmitted. The project, to be implemented by the Bangladesh Water Development Board under the Water Resources Ministry, is scheduled from March 2026 to June 2030.

The feasibility study by the Institute of Water Modelling found the project economically viable, with a benefit-cost ratio of 1.56 and an internal rate of return of 17.85 percent. The Planning Commission recommended approval, noting it would protect key infrastructure and strengthen coastal resilience.

Portugal’s parliament has approved a new law mandating that all ride-sharing drivers must know the Portuguese language, creating uncertainty for thousands of Bangladeshi migrants working in the sector. The legislation, passed on July 17 with support from the Social Democratic Party and the right-wing Chega party, is expected to affect drivers in Lisbon and Porto who rely on Uber and Bolt for their main source of income.

Under the new rules, drivers must complete at least 50 hours of driving training and score a minimum of 27 out of 30 on the final licensing exam. Passengers will also be able to select Portuguese-speaking drivers through the app, which could disadvantage those lacking language proficiency. The law further introduces permanent digital stickers for ride-sharing vehicles to prevent fraud and mandates video-only recording for passenger safety.

The changes are likely to disrupt the livelihoods of many Bangladeshi expatriates who entered the ride-sharing industry seeking better earnings in Portugal.

The Insurance Development and Regulatory Authority (IDRA) of Bangladesh has come under scrutiny after its new chair, Mir Nadia Nivin, initiated steps to reduce insurance company registration fees from 2.5 taka to 1 taka per thousand taka premium. The move follows pressure from the Bangladesh Insurance Association (BIA) and other industry groups, which had earlier opposed the fee increase introduced by former chairman Dr. M. Aslam Alam. Financial analysts warn that the reduction could significantly weaken IDRA’s institutional capacity and reduce government revenue by over 270 million taka.

Economist Dr. Mahmud Osman Imam stated that registration fees are a vital revenue source for IDRA, which lacks other major income streams. He argued that lowering the fee without stakeholder consultation raises transparency concerns and will not solve the sector’s structural problems. According to him, 42 of the country’s 82 insurance companies are financially weak, requiring deeper reforms rather than fee cuts.

Mir Nadia Nivin defended her decision, saying it was based on legal opinion and that the 1 taka rate would apply only for 2026, with the 2.5 taka rate effective from 2027. She denied allegations of favoritism and said all decisions were made in line with government policy and existing regulations.

U.S. President Donald Trump has announced a 50 percent tariff on a range of Canadian imports, including wine, hockey sticks, and cement. The White House stated that the measure will take effect within 30 days. Key Canadian exports such as energy, potash, critical minerals, and fish are exempt from the new tariffs. Trump justified the move by accusing Canada of unfair treatment toward U.S. automobiles, dairy, and alcohol products.

The decision applies to all listed goods regardless of their status under the United States–Mexico–Canada Agreement (USMCA), marking a new escalation in trade tensions between the two neighboring countries. Canadian Prime Minister Mark Carney responded that Canada is ready to intensify trade talks with the U.S. in the coming weeks. He criticized the tariffs as a continuation of unilateral actions that violate the USMCA and threaten Canada’s sovereignty.

The two countries were already engaged in trade disputes over steel, aluminum, copper, and softwood products. The new tariffs are expected to further strain economic relations across North America.

Bangladesh Bank extended a record Tk 4.10 trillion in liquidity support to commercial banks in June 2026, according to its ‘Money Market Dynamics’ report. The central bank provided the funds through repo, Standing Liquidity Facility (SLF), and Special Liquidity Facility mechanisms, marking the highest single-month assistance on record. The move came as the banking sector faced mounting liquidity pressure.

Sector insiders said weaker banks have long depended on central bank support, but the situation worsened in June following instability linked to the appointment of a new chairman at Islami Bank, which triggered heavy deposit withdrawals. As a result, Bangladesh Bank had to extend additional liquidity assistance to stabilize the bank and the broader sector.

The report showed Tk 1.79 trillion was lent via repo, Tk 1.49 trillion under SLF, and Tk 804.73 billion through the Special Liquidity Facility. Officials noted that stronger banks typically use repo borrowing, while weaker or irregular banks rely more on special facilities. Most of these short-term loans are repaid within their maturity periods, keeping net exposure relatively low.

International oil prices fell slightly on Tuesday as reports emerged of mediation efforts to ease tensions between the United States and Iran. Brent crude dropped by 35 cents, or 0.4 percent, to 88.87 dollars per barrel, while US West Texas Intermediate (WTI) for September delivery remained nearly unchanged at 82.47 dollars. The decline followed a recent surge that had pushed prices above 90 dollars per barrel earlier in the month.

The price movement came amid heightened geopolitical developments. Iran-backed Houthi forces in Yemen announced a naval blockade against Saudi Arabia, raising concerns about disruptions to oil supplies from one of the world’s leading exporters. A senior Iranian official said Tehran had received a 10-day ceasefire proposal from mediators aimed at building on a June 17 interim agreement. However, hostilities continued as the US launched new strikes on Iranian cities, prompting retaliatory attacks by Iran’s Revolutionary Guard on American military sites in the Middle East.

Analysts noted that while the ceasefire discussions have temporarily eased price pressures, uncertainty remains over whether the negotiations will yield lasting results.

The construction of the Anandabazar Bridge on the Garaduara–Mekhal Sarang Road in Hathazari, Chattogram, remains incomplete even two years after work began. Despite an extension beyond the original deadline, the contractor has not finished the project, leaving thousands of residents, including students, facing serious travel difficulties. Local authorities have stated that efforts are underway to complete the remaining work as soon as possible.

On-site observations show that the bridge pillars are finished, and iron structures for one span have been installed, but progress is slow. Recent rainfall has raised water levels in the river, further complicating construction. To maintain connectivity, the contractor has built a temporary bamboo footbridge, which residents and students use at personal risk.

According to the Hathazari Upazila LGED office, the project began on October 10, 2023, under contractor Majed Enterprise, with a budget of Tk 31.67 million and a completion target of October 14, 2024. Officials cited heavy rainfall as a key reason for the delay and confirmed that instructions have been issued to expedite completion.

Saudi Arabia has introduced a major relaxation in the renewal process for domestic workers’ residency permits, known as Iqama. From now on, employers can issue or renew Iqamas for as short as three months, instead of paying fees for one or two years at once. The initiative was jointly launched by the Ministry of Interior, the General Directorate of Passports, the Ministry of Human Resources and Social Development, and the recruitment platform Musaned.

According to local media Okaz, the new system allows employers to pay only for the selected duration, such as three months or its multiples, easing the financial burden on households. The service is available online through the government’s Absher digital platform.

Authorities said the decision aims to accommodate the diverse needs of domestic work, align with employers’ financial capacities, and modernize residency services as part of expanding digital government operations.

Dubai International Airport continues to operate at nearly full capacity despite ongoing military tensions and airspace restrictions across the Middle East, according to Dubai Airports CEO Paul Griffiths. Speaking to Bloomberg on the sidelines of the Farnborough International Airshow, Griffiths said airport operations remain normal and passenger traffic has not been significantly affected. Emirates Airline is currently operating 80 to 90 percent of its regular flight schedule, using Saudi airspace and southern alternative routes while northern routes remain restricted.

Since the start of the regional crisis, Dubai International and Al Maktoum International airports have handled over six million passengers, more than 32,000 aircraft movements, and over 213,000 tons of cargo. Griffiths said these figures demonstrate the resilience and capacity of Dubai’s aviation infrastructure amid geopolitical uncertainty.

About 50 international airlines are currently operating in Dubai, roughly half the normal number. However, Emirates’ additional flights have offset much of the capacity gap. Some major European carriers, including British Airways and Air France, have delayed resuming services due to government travel advisories and insurance conditions, not operational issues at Dubai Airport.

Bangladesh’s Minister of Power, Energy and Mineral Resources, Iqbal Hasan Mahmud Tuku, stated that energy security has become a major challenge amid the current global situation. Speaking on Monday at a workshop titled “Voice of Development: Bridging Dialogues, Policies and Partnerships for Sustainable Development” at the Bangladesh-China Friendship Conference Center, he emphasized the need to reduce dependence on fossil fuels and expand renewable energy, particularly solar power in rural areas. He noted that NGOs could play a key role by installing rooftop solar panels and using net metering to collect payments.

The minister said that fossil fuel imports have become increasingly difficult, with the government spending about USD 2 billion in two months on energy imports, putting pressure on foreign reserves. He highlighted growing gas shortages and reliance on imported LNG, whose prices are also rising. The government is providing large subsidies to the energy sector, which he described as unsustainable for the long term.

Tuku added that the government plans to raise solar power generation to 10,000 megawatts during its current term, reducing import dependency and saving funds for other development sectors.