Four major business organizations have jointly appealed to the Shipping Minister Sheikh Robiul Alam for urgent assistance following heavy rainfall and flash floods that disrupted operations at Chattogram port. In a letter sent on Sunday, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), Bangladesh Textile Mills Association (BTMA), and the Chittagong Chamber of Commerce and Industry (CCCI) requested immediate measures to restore port and transport connectivity and to compensate affected industries.

The letter stated that flooding has hampered unloading, storage, and transport of goods, putting imported raw materials and export-ready products at risk of damage and shipment delays. The port authority’s earlier notice rejecting compensation claims has caused dissatisfaction among traders. The organizations demanded a neutral investigation to determine responsibility for losses and called for waivers on demurrage, detention, and storage charges. They also sought low-interest refinancing, extended loan repayment periods, and special fast-track customs clearance for essential goods.

The groups outlined nine specific demands, urging swift implementation to protect industrial output, maintain export commitments, and restore business confidence in the country’s main seaport.

Bangladesh Bank has increased the cash incentive for the domestic export-oriented textile sector from 1.5 percent to 5 percent. The central bank issued a circular on Sunday implementing the decision based on a directive from the Ministry of Finance. The incentive serves as an alternative to the duty bond and duty drawback facilities previously available to exporters.

According to the circular, exporters who are members of BGMEA, BKMEA, or other relevant associations must submit proof of sourcing raw materials, particularly yarn and fabric, from domestic sources before receiving the incentive. The measure aims to encourage the use of locally produced inputs in textile exports.

Industry sources noted that about two and a half years ago, exporters using local yarn received a 4 percent incentive, which was gradually reduced to 1.5 percent by mid-2024 as part of preparations for Bangladesh’s graduation from the least developed country list. The new increase to 5 percent is expected to support local raw material use and strengthen the textile sector’s competitiveness.

Finance Minister Amir Khasru Mahmud Chowdhury informed the National Parliament that nine state-owned banks in Bangladesh hold defaulted loans totaling Tk 1,88,701.75 crore as of May 31. He provided the figure while responding to a question from Jamaat-e-Islami lawmaker Sabikun Nahar during a parliamentary session chaired by Speaker Hafiz Uddin Ahmed.

The minister identified the banks as Agrani, Janata, Rupali, Sonali, BASIC, Bangladesh Development Bank, Krishi Bank, Rajshahi Krishi Unnayan Bank, and Probashi Kallyan Bank. He emphasized the need to reduce the high rate of defaulted loans to restore discipline in the banking sector. In response to other parliamentary questions, the minister also disclosed that as of December 31, the government’s total debt stood at Tk 22,06,462 crore, including Tk 9,59,311 crore in foreign loans and Tk 12,47,151 crore in domestic loans.

He further stated that during the 2025–26 fiscal year, Bangladesh repaid foreign loans amounting to USD 4.65 billion, comprising USD 3 billion in principal and USD 1.65 billion in interest.

Finance Minister Amir Khosru Mahmud Chowdhury announced that Bangladesh’s new program with the International Monetary Fund (IMF) will be designed to safeguard public interest and national economic security. Speaking to reporters at the Secretariat on Sunday, July 12, 2026, he emphasized that the government will not join any IMF initiative that undermines the welfare of the people.

The minister criticized the previous IMF program adopted by the former government, describing it as contrary to public interest and incompatible with a democratic administration. He stated that the current government withdrew from that program to protect the nation’s economic priorities. Chowdhury reiterated that the main goal is not merely to secure funds but to ensure the protection of Bangladesh’s economic sovereignty and citizens’ welfare.

He also announced plans to revise the country’s visa policy to make it simpler and more modern, aiming to attract more foreign tourists and investors while strengthening global confidence in Bangladesh.

Electro Mart Group CEO Md. Nurul Afsar has received the Asia Prestige 50 Under 50 CEO Excellence Award 2026, recognizing his leadership and contributions to the electronics industry. The award ceremony took place at the Shangri-La Hotel in Phnom Penh, Cambodia, where over 280 senior corporate leaders from 28 countries gathered. The event was inaugurated by Cambodia’s Minister of Industry, Science, Technology and Innovation, Hem Vandi, and celebrated young, dynamic, and visionary business leaders under 50 across Asia.

The award highlights Afsar’s more than 33 years of dedication to innovation, participation, and development within Electro Mart Group and Bangladesh’s electronics sector. Under his leadership, the company achieved significant growth through strategic marketing, product diversification, and sustainable development initiatives. The Electro Mart chairman congratulated Afsar, noting that his visionary leadership has driven the company’s culture of excellence.

In his remarks, Afsar expressed gratitude to the organizers and said the recognition would inspire further responsibility and collaboration to advance Bangladesh’s electronics and home appliance industries.

The Association of Bankers, Bangladesh (ABB) has submitted a proposal to Bangladesh Bank seeking approval to impose new fees on 14 banking services that are currently free of charge. The proposal also includes increases in existing charges for various services such as account maintenance, loan processing, letters of credit, bank guarantees, demand drafts, pay orders, and solvency certificates. If approved, the changes would significantly raise banking costs for depositors, businesses, importers, exporters, and borrowers.

According to the proposal, dormant account reactivation would cost 500 taka, and cash withdrawals beyond certain limits would incur new fees. Loan management, restructuring, and early settlement charges would rise, while fees for letters of credit and bank guarantees would also increase. ABB has argued that rising operational and technology costs, along with inflation, justify a revision of the current fee structure. It has requested that the proposed schedule of charges be approved as the maximum limit for all banks.

ABB also suggested allowing banks to adjust charges annually by up to 10 percent in line with operational and inflationary changes, subject to Bangladesh Bank’s approval.

The government of Bangladesh has approved a policy decision to introduce ration benefits for government employees in grades 12 to 20, aiming to ease financial pressure caused by rising living costs. The Finance Division and the Cabinet Division have already given their consent, and implementation activities are underway. The decision follows prolonged discussions and was initiated after a proposal from the Pirojpur Deputy Commissioner at the May 3 District Commissioners’ Conference.

According to officials, many lower- and mid-level government employees have been struggling with inflation and relying on loans to manage expenses. The ration plan seeks to reduce living costs, ease mental stress, and improve work efficiency. The Cabinet Division instructed ministries to report monthly progress by the 10th of each month and to present an overall review after three months. Public administration experts welcomed the move as timely and positive but urged strict oversight to prevent irregularities and ensure genuine beneficiaries receive the support.

Currently, ration benefits are available to members of the armed forces, police, BGB, Ansar, prison, fire service, NSI, SSF, ACC, and narcotics control departments.

UNESCO has reported that in 2025, 113 developing countries spent more on foreign debt repayments than on education. The agency’s latest report highlights that sub-Saharan African nations, on average, allocated 3.6 times more funds to debt servicing than to education, undermining education systems and threatening long-term economic growth. The report warns that the situation could worsen as low and lower-middle-income countries have already lost 21 percent of international education aid compared to 2023, with projections of a further 30 percent decline by 2027.

Debt Justice, a UK-based campaign group, attributed the growing debt burden to the COVID-19 pandemic, rising energy prices, higher interest rates, and climate-related disasters. In 2024, poor countries’ debt repayments reached a 35-year high, with 56 nations spending about one-fifth of their total government income on debt servicing. UNESCO noted that the funding shortfall has disrupted school operations, delayed teacher salaries, and hindered educational activities.

UNESCO called for reforms in global debt restructuring mechanisms and urged the creation of long-term debt-assistance frameworks to help developing countries maintain investment in education and essential public services while managing debt obligations.

Continuous heavy rainfall has caused severe waterlogging at Benapole, the country’s largest land port, submerging imported goods worth crores of taka. Several sheds and yards near Gate No. 3 were flooded, disrupting storage, transport, and unloading operations. The port authority has deployed power pumps to remove water, but the effort has been hampered by ongoing rain.

Port users and traders have blamed the recurring problem on the absence of an effective drainage system despite multiple infrastructure projects. They alleged that authorities were repeatedly informed but took no lasting action. A committee formed earlier to address drainage issues has shown no visible progress. Many importers, lacking insurance coverage, are now facing significant financial losses.

Business leaders expressed frustration that despite Benapole generating around Tk 10,000 crore in annual revenue for the government, the drainage crisis persists. The port director said water removal is underway and expects improvement once the rain stops.

After being closed for one month and 22 days, stone extraction at the Maddhapara hard rock mine in Dinajpur resumed on Saturday morning. Operations had been suspended 52 days earlier when the supply of ammonium nitrate explosives used for underground rock extraction ran out. The resumption followed the import and delivery of new explosive materials, confirmed Md. Amjad Hossain, Managing Director of Maddhapara Granite Mining Company Limited (MGMCL).

According to MGMCL, 88 metric tons of ammonium nitrate have now reached the mine, sufficient for about two and a half months of extraction work. The company has requested a total of 300 metric tons, with the remaining quantity expected to arrive in phases. The mine has faced similar disruptions in previous years due to shortages of explosives, storage constraints, and mechanical issues.

Maddhapara Granite Mining Company Limited, the country’s only underground hard rock mine, began commercial production in May 2007. Around 750 workers currently operate in three shifts, and under a renewed six-year contract with contractor GTC, the mine produces an average of 5,500 metric tons of stone daily.

The Ghorashal-Palash Urea Fertilizer Factory in Narsingdi failed to meet its production target for the 2025–26 fiscal year due to a 40-day suspension of operations caused by a gas shortage. The plant produced 764,535 tons of urea, about 85,000 tons short of its target. The facility, one of Southeast Asia’s largest, had achieved its production goal in 2024–25, the first year after its inauguration.

Built under the Bangladesh Chemical Industries Corporation at a cost of about Tk 15,500 crore, the plant began commercial production in March 2024 with an annual capacity of 924,000 tons. In its first year, it earned Tk 2,632 crore in revenue and Tk 232.69 crore in net profit, making it the only profitable state-owned urea factory that year. Officials attributed the shortfall in 2025–26 to the gas supply disruption linked to conflict in the Middle East.

The management has set a new production target of 940,000 tons for the current fiscal year, expressing optimism that stable gas supply and proper maintenance will enable the plant to exceed its goal.

Bangladesh observed World Population Day on Saturday with the theme “Fulfilling youth aspirations for a better tomorrow,” highlighting the need to transform its large working-age population into skilled human resources. The main event was held at the Osmani Memorial Auditorium in Dhaka, attended by President Md. Shahabuddin and Health Minister Sardar Md. Sakhawat Hossain. Both the President and Prime Minister Tarique Rahman issued separate messages, while national broadcasters aired special programs.

Experts noted that despite population growth, the country has not seen a proportional rise in skilled manpower. They warned that without adequate investment in education, technical training, and employment, the demographic dividend could turn into a burden. Rapid urbanization, internal migration due to climate change, and pressure on housing, transport, and healthcare were cited as growing challenges.

Speakers emphasized that planned population management, women’s empowerment, and youth skill development in technology, artificial intelligence, and modern agriculture are essential for sustainable growth. Officials from the Directorate of Family Planning added that long-term investment in maternal and child health can transform the population into productive human capital.

Saudi Arabia has introduced a new 'package visa' program aimed at simplifying travel procedures for tourists from seven countries, including Bangladesh. According to a Gulf News report published on Friday, the first phase of the initiative covers Bangladesh, Egypt, Jordan, India, Pakistan, Indonesia, and Mexico. The program allows eligible travelers to obtain tickets, accommodation, and other travel services under a single booking.

Under the new system, travelers can complete their visa and travel arrangements together without visiting a Saudi embassy. The package includes a return flight ticket, accommodation in licensed hotels, and an electronic tourist visa. The visa will be issued electronically within 48 hours of completing the booking through approved travel providers, currently identified as 'Rizerval' and 'Almosafer'.

The visa will be valid for three months and allow a single entry for stays between two and eighty-eight days. The minimum package cost is set at 4,000 Saudi riyals for the first two days, with an additional 1,000 riyals per extra day. The total visa fee, including travel insurance, is 402.21 riyals.

Bangladesh’s Minister for Road Transport, Bridges, Railways, and Shipping, Sheikh Robiul Alam, held a bilateral meeting in London with UK Transport Minister The Right Honourable Heidi Alexander. During the meeting, he requested the United Kingdom’s assistance in simplifying and expediting OKTB, transit, and seafarer-related visas for Bangladeshi sailors working on international vessels. The discussion took place on Thursday, with details released by Bangladesh’s Ministry of Shipping on Friday.

The minister called for greater British investment, joint ventures, technology transfer, and public-private partnerships in Bangladesh’s shipbuilding, marine engineering, port development, and maritime industries. He highlighted Bangladesh’s commitment to implementing the Hong Kong International Convention to ensure global standards in ship recycling, noting that 27 of the country’s 42 recycling yards already meet international criteria. He also reaffirmed Bangladesh’s support for global efforts to reduce greenhouse gas emissions and promote sustainable maritime transport.

Both sides expressed determination to strengthen cooperation in transport, shipping, railways, port development, trade, and investment. Sheikh Robiul Alam invited the UK minister to visit Bangladesh at a convenient time.

Saudi Arabia has reportedly suspended or delayed money transfers to the United Arab Emirates, according to a Financial Times report published on Tuesday. The move, in effect since May, has prevented funds from Saudi banks from reaching Emirati accounts, signaling growing friction between the two Gulf nations. The Saudi central bank denied imposing any formal restrictions when contacted by the newspaper.

The Financial Times report noted that disputes between Riyadh and Abu Dhabi have become increasingly visible since early this year. Once close allies, the two countries have diverged over issues such as relations with Israel, policies in Somalia, Sudan, and Yemen, and competition for regional economic influence. The UAE’s decision to leave OPEC earlier this year and its support for separatist groups in Yemen have further strained ties.

Analysts cited in the report said economic rivalry between the two major Arab economies is longstanding. The current financial disruption could deepen mistrust and complicate cooperation in trade, energy, and regional security.