Fortune Group has officially closed its Anan Shoes factory in Gazipur’s Sripur area, citing continuous financial losses and production disruptions. The company announced the shutdown after facing severe economic challenges linked to import-export complications. Over 300 employees were affected, with some reassigned to other Fortune Group units in Barishal and Dhaka. The company began operations in 2012 with 472 workers and expanded into a group of multiple shoe factories across Bangladesh.

Unnamed sources alleged that despite earning large profits, many employees had not received salaries for months, and the company’s chairman, Mizanur Rahman, allegedly laundered significant sums abroad while residing in Canada. However, a company official denied the money laundering claim, attributing the crisis to liquidity problems at Islami Bank that disrupted trade operations. Mizanur Rahman, who also holds political positions, declined to comment when contacted.

The closure has left many employees struggling financially, with several months of unpaid wages. The company has expressed hope that the situation will improve once financial constraints ease.

The Bangladesh Jewellers Association (BAJUS) has again reduced gold prices in the domestic market within 24 hours. In a notice issued on Tuesday morning, BAJUS announced that the price of 22-carat gold, including VAT, has been lowered by Tk 3,324 per bhori to Tk 221,966. The new rates took effect from 10 a.m. the same day. The association said the adjustment followed a decline in the price of pure gold in the local market.

According to the new pricing, 21-carat gold now costs Tk 211,993 per bhori, 18-carat gold Tk 182,075, and traditional gold Tk 148,774. BAJUS stated that these prices will remain effective until further notice, with design-based making charges applicable. VAT is included in the selling price, and customers cannot be charged separately. The association also mentioned that silver prices have been reduced by Tk 175 per bhori, setting 22-carat silver at Tk 4,491.

This marks the 84th gold price adjustment in 2026, with 41 increases, 42 decreases, and one VAT revision so far. Silver prices have been adjusted 51 times this year.

U.S. President Donald Trump has demanded that petrol stations and other fuel retailers immediately lower prices following a decline in global oil rates. In a post on Truth Social, Trump warned that retailers could face serious consequences if they fail to reduce prices for consumers. He noted that oil prices had dropped to 68 dollars per barrel and were continuing to fall, yet retail fuel prices remained high.

Trump emphasized that retailers must act quickly to adjust prices and avoid overcharging, which he described as illegal. His warning comes after a period of sharp increases in oil prices triggered by the U.S.-Israel war with Iran, during which Tehran closed the Strait of Hormuz, a key route for global energy supply.

Oil prices have since declined as Washington and Tehran signed a memorandum of understanding and moved toward a potential final agreement, easing market tensions and prompting Trump’s call for lower domestic fuel prices.

Bangladesh is facing a severe disparity in electricity supply between urban and rural areas, with rural residents enduring long hours without power while Dhaka remains largely unaffected. On Sunday, despite a national load shedding record of 3,280 megawatts, the capital experienced no outages. Protests erupted in several districts, where residents blocked roads and attacked power offices over frequent blackouts. In Jamalpur’s Madarganj, hundreds surrounded a local power station, citing disruptions to students’ studies.

According to the Power Division, national electricity demand reached 17,278 megawatts, but only 13,998 megawatts were supplied. While Dhaka’s utilities met full demand, rural areas under the Rural Electrification Board faced significant shortfalls. Officials reported that 65 percent of power plants remain idle, with gas and coal shortages limiting production. The government continues to pay high capacity charges for unused plants.

Energy Minister Iqbal Hasan Mahmud stated in parliament that production has improved to 14,500 megawatts against a demand of 14,839 megawatts and assured efforts to stabilize supply. Authorities are considering increasing output from oil-based plants to ease the crisis.

Bangladesh Bank has announced a special exit facility allowing defaulting borrowers to settle their dues in one payment with relaxed conditions for interest waivers. The circular, issued on Monday to all scheduled banks, aims to reduce non-performing loans and enhance banks’ capacity to issue new credit. The central bank stated that borrowers facing financial difficulties but still capable of operating their businesses and willing to repay will be eligible for this one-time exit option.

According to the circular, loans classified as substandard or bad up to June 30 of the current year will qualify for the facility, subject to board approval based on banker–customer relationships. The requirement for banks to recover their cost of funds before waiving interest has been eased, and both state-owned and private banks may now offer interest waivers. The policy also prioritizes short-term agricultural loans and CMSME sector loans.

The directive, issued under the Bank Company Act 1991, will remain effective until December 31. Bangladesh Bank expects the measure to help reduce bad loans and support production, investment, and employment growth.

Bangladesh’s foreign exchange reserves have risen above $37 billion for the first time in 45 months. As of Monday, the gross reserve stood at $37.05 billion, up from $36 billion last Wednesday. The last time reserves were above this level was in mid-September 2022, before declining steadily to $25.92 billion by August 2024, when the Awami League government fell.

According to the IMF’s BPM6 calculation method, reserves reached $32.48 billion, compared to $31.55 billion last Wednesday. The reserve crossed $31 billion after the Asian Development Bank disbursed a $1 billion loan on June 14. Bangladesh Bank began publishing reserves under the BPM6 system in June 2023, when the figure was $24.75 billion. The country’s highest reserve level was $48 billion in August 2021, before falling due to increased capital flight and a sharp depreciation of the taka from 84 to 120 per dollar.

Since August 2024, remittance inflows through banking channels have remained strong, totaling $35.34 billion by June 28 of the current fiscal year, up 17.62 percent from the same period last year, helping stabilize the foreign exchange market.

Bangladesh Bank has reinstated a maximum 4 percent spread between deposit and lending interest rates, aiming to reduce borrowing costs and support productive sectors. The directive, issued through a circular on Monday, excludes credit card and consumer loans. Currently, the average spread in the banking sector stands at 5.72 percent, with some banks maintaining spreads as high as 7 to 9 percent.

According to the central bank, many banks have sharply increased lending rates compared to deposit rates, widening the spread and negatively affecting business and industrial financing. The move seeks to bring lending rates to a reasonable level and ease financial pressure on borrowers. A bank collecting deposits at 8 percent interest will now be allowed to lend at a maximum of 12 percent.

The 4 percent cap had been lifted in November 2023 under an IMF-backed market-based interest rate system but has now been reinstated following recommendations from the central bank’s monetary policy committee, which cited high non-performing loans and excessive spreads as key concerns.

Jagannath University has approved a Tk 330 crore budget for the 2026–2027 fiscal year, showing a deficit of Tk 143.39 crore. The approval came during the university syndicate’s 112th special meeting held on June 29 under the chairmanship of Vice-Chancellor Professor Dr. Md. Raiqul Uddin. The syndicate also approved the revised budget of Tk 230.32 crore for the 2025–2026 fiscal year.

According to the approved figures, the 2026–2027 budget includes Tk 159.10 crore from the University Grants Commission (UGC) and Tk 27.50 crore from the university’s own income. Allocations include Tk 8 crore for research, Tk 60 crore for student scholarships, Tk 30 crore for temporary dormitory construction, and Tk 129.80 crore for salaries and allowances. The UGC has withheld allocations for research and vehicle purchases, while several other sectors received about 50 percent less than requested.

The syndicate recommended that the government, through the UGC, provide additional funding to cover the Tk 143.39 crore deficit. The university’s ongoing development project for a second campus has an estimated cost of Tk 1,746.06 crore, with Tk 201.21 crore allocated for 2026–2027.

Dhaka University has announced a proposed budget of Tk 1,033.21 crore for the 2026–2027 fiscal year, presented at the annual Senate session held on June 29, 2026, at Nabab Nawab Ali Chowdhury Senate Bhaban. The budget, presented by Treasurer Professor Dr. M. Jahangir Alam Chowdhury and presided over by Vice-Chancellor Professor Dr. A. B. M. Obaidul Islam, falls short by about Tk 390 crore compared to the university’s total demand. The University Grants Commission (UGC) has allocated no direct funds for research, creating an anticipated financial deficit of Tk 83.85 crore.

According to the treasurer, 66.73 percent of the university’s total financial requirement has been met, with Tk 949 crore from UGC grants and Tk 85 crore from internal income. The largest allocations are for salaries and allowances, consuming about 53 percent of the total budget. The administration warned that the lack of research funding and limited resources for libraries, laboratories, and student welfare will strain normal academic and research operations.

The UGC plans to change its policy by managing research funds directly instead of transferring them to universities, a move that may affect Dhaka University’s ability to ensure adequate research investment.

The Barishal City Corporation (BCC) has decided to maintain the previously set fares for three-wheelers operating within the city. The decision was made on Monday during a coordination meeting held at the city corporation office, chaired by BCC Administrator Advocate Bilkis Akter Jahan Shirin. Officials from the divisional and district administrations were present. The meeting also resolved to take strict legal action against unlicensed or non-renewed three-wheelers through joint drives.

The move follows widespread protests by students and passengers against excessive fare collection by three-wheeler and yellow auto-rickshaw drivers. Reports indicated that fares had nearly doubled on several city routes, prompting students to detain over a hundred vehicles near BM College. Despite earlier complaints and a memorandum submitted to the BCC, no action had been taken until the protests escalated.

During the emergency meeting, participants emphasized restoring order in the city’s transport sector through coordinated efforts. The BCC pledged to ensure compliance with licensing regulations and maintain passenger welfare by keeping fares unchanged.

U.S. President Donald Trump has claimed credit for the recent decline in global oil prices, attributing it to the effects of an interim agreement with Iran. In a social media post on Monday, Trump stated that oil prices are now lower than before the start of Iran’s nuclear disarmament process. In another post, he added that fuel prices are falling rapidly. He also asserted that his approval rating has reached its highest level ever.

According to the report, Brent crude futures traded at 73 dollars per barrel on Monday, while U.S. West Texas Intermediate stood at 69 dollars. These figures represent about a 15 percent decrease compared to prices before the start of the U.S.-Israeli war against Iran. The report cited Al Jazeera as the source of this information.

The statements come amid ongoing attention to global energy markets and geopolitical developments involving Iran, though the report did not specify further economic or political reactions.

Prime Minister Tarique Rahman has pledged to restore discipline in Bangladesh’s economic sector and repatriate laundered money, ending what he termed a fascist regime. Speaking during Monday’s national budget session, he proposed several amendments aimed at easing the tax burden on citizens, withdrawing the controversial provision for legalizing undisclosed income, and promoting domestic industries and private higher education.

The Prime Minister proposed raising the tax-free income threshold to 400,000 taka for 2026–27, gradually increasing it to 500,000 taka by 2030–31. He suggested reducing taxes on private universities from 10% to 5% while urging them to strengthen research, establish language labs, and offer free education to poor and meritorious students. He also recommended tax exemptions for small ethnic groups, tariff cuts on key industrial raw materials, and incentives for local manufacturing, including shrimp farming, LED lamps, and prefabricated buildings.

Rahman announced a 5 billion taka startup fund to support freelancers and entrepreneurs, calling it a historic first. He also proposed lowering VAT on online advertising and jewelry, and simplifying VAT compliance to foster a more business-friendly environment.

The government has decided to abolish Section 18A of the Bank Resolution Act 2026, which allowed former shareholders and directors of troubled banks to regain ownership under certain conditions. Finance Minister Amir Khasru Mahmud Chowdhury announced the decision during Monday’s budget discussion in the National Parliament, stating that the move followed feedback from various stakeholders. He emphasized that those responsible for misappropriating public funds would not be spared and that depositors’ interests would be protected.

Section 18A, added during the law’s passage, had permitted previous owners of weak banks to apply to Bangladesh Bank to reacquire shares, assets, and liabilities after meeting several conditions, including repayment of government or central bank funds. The clause drew criticism from opposition parties, economists, Transparency International Bangladesh, and bankers, who argued it opened the door for controversial business groups to regain control. Media reports also indicated that the World Bank had raised objections.

The Bank Resolution Act enabled the merger of five Islamic banks—EXIM Bank, Social Islami Bank, First Security Islami Bank, Union Bank, and Global Islami Bank—whose combined defaulted loans reportedly reached about Tk 1.47 trillion. The finance minister’s announcement aims to restore depositor confidence in the banking sector.

The Bangladesh Parliament has passed the Finance Bill 2026 with several significant amendments. The changes include raising the tax-free income limit for individual taxpayers and withdrawing the proposed rule requiring disclosure of investment information. Finance Minister Amir Khasru Mahmud Chowdhury presented the bill, which was passed by voice vote under the chairmanship of Speaker Hafiz Uddin Ahmed. The amendments followed the Prime Minister’s directives during budget discussions.

Under the revised proposal, the tax-free income limit will rise to 400,000 taka for fiscal years 2026–27 and 2027–28, 450,000 taka for 2028–29 and 2029–30, and 500,000 taka for 2030–31. The government also withdrew proposals that would have made Tax Identification Numbers mandatory for most bank accounts and property registrations. The minister proposed reducing the income tax rate for private universities from 10% to 5% and expanding tax benefits for ethnic minorities.

Additional proposals include lowering import duties on raw materials, reducing VAT on digital advertising to 5%, and cutting taxes on locally produced vehicles and jewelry. These measures aim to support domestic industries, improve tax compliance, and ease public concerns.

Depositors under the banner of the ‘Combined Five Islamic Bank Depositors Association’ held a protest rally and submitted a memorandum in Chattogram on Monday, June 29, 2026. The demonstration began at New Market intersection and concluded at the Bangladesh Bank’s Chattogram regional office. A six-member delegation from the association handed over a three-point memorandum to the regional head of Bangladesh Bank.

Their demands included withdrawal of the decision to impose a ‘haircut’ or deduction on customer funds, restoration of normal banking operations, and full protection of deposits. The Bangladesh Bank representative assured that the memorandum would be forwarded to the governor for positive consideration.

Following the submission, a brief rally was held at New Market intersection where association leaders, including President Md. Abul Kalam Azad and General Secretary Jahangir Hossain, urged swift action to safeguard depositors’ interests and warned of tougher programs if their demands were not met.