U.S. Secretary of State Marco Rubio announced during his visit to India that New Delhi has pledged to purchase $500 billion worth of American goods over the next five years. The statement has sparked widespread discussion among global media, trade experts, and economic analysts, who are questioning what India has agreed to and whether it will benefit sufficiently from the deal. The commitment follows an interim trade agreement announced in February, when U.S. President Donald Trump reduced tariffs on Indian goods from 50 to 18 percent, and India expressed interest in increasing imports of U.S. energy, coal, and technology equipment.

Analysts have raised concerns about the timing of such a large import plan, given recent changes in global trade conditions. After the U.S. Supreme Court invalidated some of Trump’s earlier tariff measures, Washington imposed a uniform 10 percent tariff on trade partners. Experts question why India is proceeding with such a massive purchase without securing further concessions and why it is limiting supplier options in sectors like aviation. The deal is viewed as politically sensitive and economically risky for India amid currency depreciation, high oil prices, and uncertain global trade.

Additionally, concerns persist in India about U.S. tariff and immigration policies, as well as Washington’s warming ties with China and Pakistan, which analysts say could complicate India’s strategic and economic positioning.

Leaders of the International Energy Agency (IEA), International Monetary Fund (IMF), World Bank, and World Trade Organization met to discuss the economic and energy impacts of the ongoing war in Iran and the wider Middle East. Following the meeting, the institutions issued a joint statement warning that if shipping through the Strait of Hormuz does not return to normal, global oil reserves could be depleted before the northern hemisphere’s summer demand peaks. They cautioned that this would heighten risks to energy security, market stability, and the broader global economy.

The statement also noted that the organizations are exploring ways to strengthen collective support through multilateral and bilateral measures to mitigate the crisis and its economic consequences. In April, the IMF, World Bank, and IEA had announced the formation of a joint team to assist vulnerable economies in managing the crisis.

The institutions’ coordinated approach signals growing concern over the potential escalation of the energy crisis and its ripple effects on global markets and economic stability.

In Lakshmipur’s Chandraganj upazila, the authorities of Ramnagar Madinatul Ulum Dakhil Madrasa buried around 150 sacrificial animal hides after failing to sell them. The incident occurred following Eid-ul-Azha when the madrasa collected hides from local households but could not find wholesale buyers or fair prices. Due to the lack of preservation facilities and concerns over odor and decay, the madrasa decided to bury the hides to prevent environmental pollution.

Local residents expressed mixed reactions, noting that poor preservation systems and ineffective market management have caused recurring crises in the leather trade. The madrasa’s management committee said they had spent significant funds on labor and transport to collect the hides, but the absence of buyers led to major financial losses.

According to the madrasa’s general secretary, despite waiting two days for buyers, none appeared, forcing them to dispose of the hides for environmental reasons. The institution now faces substantial financial damage as a result of the unsold collection.

Japan has reintroduced a ban on mango imports from India after nearly two decades, following the discovery of flaws in pest control and sterilization procedures by Japanese quarantine officials. The decision, announced by the Yokohama Plant Protection Association, means that shipments with inspection certificates issued after March 25, 2026, will no longer be accepted. The move affects premium Indian mango varieties such as Alphonso, Kesar, Langra, and Banganapalli, dealing a major blow to exporters this season.

Japan maintains a strict zero-tolerance policy against harmful agricultural pests, particularly fruit flies, which it considers a serious threat to domestic crops. The country had previously banned Indian mangoes for similar reasons but lifted the restriction in 2006 after India implemented stricter quality control measures. During a March inspection at a vapor heat treatment center in Rehmanpur, Uttar Pradesh, Japanese officials found technical issues in the heat treatment and sterilization process, though neither side disclosed details.

Exporters fear the renewed ban could undermine international confidence in India’s agricultural quality standards and prompt concern among other importing nations, adding financial strain to farmers already hit by poor yields due to extreme weather and El Niño effects.

A large quantity of sacrificial animal hides has spoiled in Chattogram due to alleged manipulation by market syndicates. Seasonal traders, unable to sell their collected hides at fair prices, abandoned thousands of pieces on the streets late into the night. On Friday morning, Chattogram City Corporation sanitation workers began dumping the rotting hides from areas including Aturar Depot, Bahaddarhat, and Chawkbazar.

Seasonal traders said that despite government assurances of market monitoring, no effective steps were taken to prevent syndicate control. Many traders chose to discard their hides in protest rather than sell at extremely low prices. The Raw Hide Traders Association claimed they met their target of collecting 400,000 hides and said only those who held out for higher prices suffered losses. Truck drivers from Fatikchhari and Sitakunda reported being stranded overnight with unsold hides that eventually decayed.

City officials confirmed that large volumes of spoiled hides were dumped but did not provide exact figures. Traders alleged that middlemen’s manipulation caused the crisis, with some hides going unsold even at Tk 50 per piece.

In Shyamnagar upazila of Satkhira, large quantities of sacrificial animal hides were discarded along the banks of the Kholpetua River after failing to attract buyers. The incident occurred following Eid when local traders, madrasa authorities, and orphanages struggled to sell raw hides due to a market collapse and lack of buyers. Piles of hides were seen near the Neeldumur ferry ghat area, causing foul odors and raising environmental concerns.

Local sources said that despite collecting hides from various areas since Eid morning, most sellers found no buyers throughout the day. Many were forced to bury or dump the hides to prevent stench. Traders reported that compared to previous years, the market situation was worse, with low purchase offers and high transport and salt costs discouraging collection. Madrasa and orphanage officials said they rely on hide sales to fund student welfare and education, but this year’s losses have severely affected them.

Authorities acknowledged the issue, noting that institutions had been advised to preserve hides before sale. The upazila administration stated that the matter is being addressed seriously.

Leather sellers in Dhaka and other districts expressed deep frustration on Friday, May 29, 2026, as sacrificial animal hides were sold at nominal prices during Eid-ul-Azha. Many sellers alleged that buyers were offering far below the government-fixed rates. In several areas, goat and cow hides were seen piled up on roadsides, with sellers unable to find fair buyers despite busy market scenes.

Madrasa representatives, orphanages, and seasonal collectors said the market price did not match the official rate, while traders blamed tannery owners’ unpaid dues and cash shortages for the crisis. In Dhaka’s Posta area, large cowhides fetched as little as 500 taka, dropping to 100–200 taka if damaged. Seasonal traders in Chattogram and Satkhira reported similar conditions, with some abandoning hides on roads or burying them to avoid losses and odor.

In Sirajganj’s Tarash upazila, the market collapsed entirely, with few buyers appearing. Many sellers either left hides behind or donated them to local madrasas and boarding houses, reflecting a recurring crisis in the country’s leather trade.

Israel has incurred financial losses of 248 million dollars over the past two months due to the presence of US military aircraft at Ben Gurion Airport, according to a report by Israel’s public broadcaster Kan. The airport is being used by the United States for military operations, significantly limiting its civilian capacity.

Sharon Kedmi, Director General of the Israel Airports Authority, stated that the airport is currently operating at only one-third of its capacity because of the space and equipment occupied by US military refueling planes. He noted that nearly 70 percent of the airport’s operations have been restricted as a result of Washington’s ongoing military activities.

Kedmi warned that if the current situation continues, Israel’s financial losses could reach billions of dollars and more flight cancellations may follow in the coming days.

European Union leaders are increasingly alarmed by their economic dependence on China, with top diplomat Kaja Kallas comparing efforts to reduce reliance to a painful medical treatment. The bloc’s trade deficit with China has reached record levels, driven by a surge in electric vehicle imports. Brussels is debating how to respond to Beijing’s aggressive trade policies, as Chinese officials warn of retaliation against any protective measures.

Analysts and policymakers describe a growing sense of urgency within Europe’s industrial sectors, particularly in Germany, where manufacturers face mounting competition. France, Spain, and several other EU members have urged stronger action to defend strategic industries, while Beijing has denounced proposed EU policies such as the Industrial Accelerator Act as protectionist. China’s recent export restrictions on rare minerals and new regulatory powers over foreign-linked firms have further strained relations.

Upcoming G7 and EU summits are expected to address these tensions, with European officials seeking ways to rebalance trade without triggering a full-scale trade war. However, fears of Chinese retaliation and consumer dependence on low-cost imports complicate the path forward.

Tourist turnout in Kuakata, Patuakhali, remained below expectations on the second day of Eid-ul-Azha, despite extensive preparations by local businesses. Hotel and motel owners had cleaned facilities, offered special discounts, and readied themselves for an anticipated influx of 300,000 to 400,000 visitors. However, field observations on Friday showed the beach areas, including Zero Point and Gangamati, were largely empty, with most visitors being local day-trippers returning home by evening.

Small traders in hotels, shell markets, and handicraft stalls reported sluggish sales due to the lack of tourists. Business owners attributed the downturn to the country’s overall economic situation and high inflation, which they said forced many families to cut travel budgets. Hotel managers reported low booking rates, with only 20–30 percent occupancy in top-tier hotels and 10–20 percent in mid-range ones.

Tourism leaders expressed hope that visitor numbers might rise later in the week, though they warned that continued low turnout could make it difficult to recover earlier losses. Police authorities confirmed enhanced security measures across the beach and nearby attractions.

Global crude oil prices fell slightly as optimism grew over a possible extension of the ceasefire between the United States and Iran. The decline was limited, with market movements slowing after comments from US Vice President JD Vance, who said that while both countries were close to an understanding, no final agreement had yet been reached.

On Friday, Brent crude for July delivery dropped by 35 cents, or 0.37 percent, to 93.36 dollars per barrel. US West Texas Intermediate (WTI) crude fell by 63 cents, or 0.71 percent, to 88.27 dollars per barrel. Brent crude for August delivery also decreased by 46 cents, or 0.50 percent, to 92.24 dollars per barrel.

The modest price decline reflects cautious market sentiment as traders await confirmation of any formal ceasefire deal between Washington and Tehran, which could influence future oil supply expectations.

A severe slump has hit the sacrificial animal hide market in Taraganj upazila of Rangpur, where thousands of unsold hides now lie abandoned along roadsides due to the absence of fair prices. The Kursha market, once bustling during Eid, has turned stagnant amid a shortage of buyers, leaving seasonal traders, farmers, and small sellers facing heavy losses.

Local traders report that good-quality cowhides are selling for only 300 to 350 taka, while lower-quality or damaged hides fetch between 100 and 150 taka. Compared with last year, prices have dropped sharply, creating a major imbalance between buyers and sellers. Across five unions of Taraganj, hides have been left piled up in courtyards, mosque grounds, and near shops, raising environmental and health concerns.

Traders expressed frustration, saying they had purchased hides with high expectations but now face losses even at purchase prices. Many fear that if the situation continues, sustaining their businesses will become increasingly difficult.

Seasonal leather traders in Nabinagar upazila of Brahmanbaria are struggling to sell sacrificial animal hides after purchasing them from households during the recent Eid season. On Thursday, May 28, hundreds of traders were seen waiting late into the night beside roads with piles of raw hides but without any buyers. Despite the government’s decision to raise the price of salted cowhide outside Dhaka by two taka to 60 taka per square foot, traders said the increase had no impact in rural areas.

Local traders expressed frustration over the lack of wholesale buyers and government support for preservation. One trader said they had not received any salt to store the hides and might have to discard them if unsold overnight. Others alleged that syndicates among wholesalers were destroying the leather trade, leaving small seasonal traders in financial distress.

Some traders reported buying hides for 200–300 taka each but being forced to sell at nearly the same price, resulting in losses after a full day’s labor.

Several Qawmi, Hafezia, and orphanage-based madrasas in Sitakunda have collected sacrificial animal hides during Eid-ul-Azha, but are now struggling to sell them due to falling market prices, rising preservation costs, labor shortages, and lack of buyers. Many administrators said the hides, once a source of support for orphans and poor students, have become a financial burden. Some institutions fear the hides may rot if unsold.

According to madrasa officials, each hide costs between Tk 130 and Tk 350 to collect and preserve, while market prices are often equal to or lower than these costs. One madrasa reported selling hides at Tk 200 each after failing to attract city buyers. The Sitakunda administration distributed 25 tons of salt to four madrasas to aid preservation, but manpower shortages limited its use.

Stakeholders noted that hide sales are a key annual income source for madrasas and orphanages, funding food, clothing, and education for orphans. They urged government action to ensure fair prices, proper collection, and coordination with tanneries to prevent future losses.

In Parshuram upazila of Feni, seasonal traders faced severe losses as sacrificial cowhides were sold at extremely low prices, ranging from Tk 50 to Tk 200, during Eid-ul-Azha on Thursday evening. Many small traders gathered at the local cattle market to sell hides but found buyers unwilling to pay beyond Tk 200. According to the local livestock office, around seven thousand cows, goats, and buffaloes were sacrificed in the area, leaving both donors and traders frustrated over the poor returns.

Several traders described their losses, including a 70-year-old man who bought a hide for Tk 500 but could not sell it for more than Tk 200, and another who sold four hides for Tk 550 after paying market tolls. Despite the government’s fixed rate of Tk 57–62 per square foot for salted cowhide outside Dhaka and Tk 25–30 for goat hides, buyers were largely absent. Many donors instead gave hides to local madrasas and orphanages as charity.

Parshuram municipal administrator and assistant commissioner (land) SM Shafayat Akhtar Noor said the issue of low prices had been reported to higher authorities for further action.