U.S. President Donald Trump has announced a reduction in tariffs on Indian goods following a phone conversation with Indian Prime Minister Narendra Modi. Under the new agreement, the U.S. will lower tariffs on Indian products from 25 percent to 18 percent, while India has pledged to eliminate tariffs and non-tariff barriers on American goods. Modi expressed gratitude to Trump for the decision, calling it beneficial for both nations.

Trump stated on his social media platform Truth Social that the discussion also covered the Russia–Ukraine war. He claimed Modi agreed to stop purchasing Russian oil and instead buy from the U.S. and Venezuela, leading to the removal of an additional 25 percent penalty previously imposed on India. As part of the deal, India will purchase over $500 billion worth of U.S. goods, including energy, technology, agricultural products, and coal.

The agreement follows months of trade tension after the U.S. imposed tariffs of up to 50 percent on Indian goods last August, sharply reducing Indian exports. The new deal is viewed as a major step toward easing that strain. (Sources: BBC, Reuters)

Samomilito Islami Bank PLC held its fourth board meeting on Monday at the City Center in Motijheel, Dhaka. The meeting was chaired by the bank’s chairman, Mohammad Ayub Mia, PhD, and attended by members of the board of directors. The executive director in charge of the Bank Resolution Department of Bangladesh Bank also participated in the session.

Administrators from five banks currently undergoing merger processes with Samomilito Islami Bank were present at the meeting upon the board’s invitation. The gathering marked a continuation of the bank’s ongoing coordination with regulatory authorities and merging institutions.

The meeting reflected the bank’s efforts to advance its merger process and strengthen institutional collaboration under the supervision of Bangladesh Bank.

The Chattogram Port Protection Struggle Council has declared a 24-hour work stoppage starting at 8 a.m. Tuesday to protest the government’s decision to lease the New Mooring Container Terminal (NCT) to a foreign company. The announcement was made Monday afternoon at the port building premises by the council’s coordinator and nationalist labor leader Md. Humayun Kabir.

According to Kabir, port workers and employees have been demonstrating for the past three days against what they describe as a conspiracy to hand over the port to foreign control. He said participation in the protests has been growing, disrupting import deliveries, container handling, and the movement of cargo vehicles inside the port. Kabir accused the government of ignoring the port’s interests and instead transferring leaders involved in the movement, which has further angered workers.

The council demanded an immediate halt to the process of appointing a foreign operator at NCT and the cancellation of transfer orders for protesting workers. Kabir warned that if these demands are not met, more severe programs will follow.

Industry leaders and policymakers have called for coordinated efforts to strengthen Bangladesh’s light engineering sector to make it more export-oriented and globally competitive. The call came at the opening of the three-day Bangladesh Light Engineering Expo 2026, organized by the Bangladesh Engineering Industry Owners Association (BAISHIMAS) in Dhaka on February 2. Speakers emphasized the need for capacity building, technological advancement, and policy support as the country prepares to graduate from Least Developed Country (LDC) status in November 2026, which will gradually reduce duty-free export benefits.

EC4J Project Director Md. Abdur Rahim Khan said Bangladesh has yet to fully capitalize on global opportunities in light engineering despite its growing importance in export structures. He stressed enhancing government implementation capacity and private sector innovation. World Bank specialist Hosna Ferdous Sumi highlighted quality compliance, production efficiency, and cost reduction as key challenges, while BAISHIMAS President Abdur Razzak noted the sector’s 3% GDP contribution and potential to reach USD 12.56 billion in exports by 2030 with proper policy and investment.

Speakers also underscored the need for technology transfer, research support, and easier financing to accelerate industrial diversification and domestic market growth.

Bangladesh Bank announced that a newly designed Tk10 banknote will enter circulation on Tuesday. The note will first be issued from the central bank’s Motijheel office and later distributed through other branches. The announcement was made in a press release on Monday. The new note, signed by Governor Dr. Ahsan H. Mansur, measures 123 mm by 60 mm and features a watermark of a Royal Bengal Tiger’s face with a predominantly pink color scheme.

According to the central bank, the front side of the note displays an image of the Baitul Mukarram National Mosque and a background design of the national flower, the water lily. The reverse side features an image titled “Graffiti–2024.” Security features include a 2 mm-wide security thread inscribed with “10 Taka,” which changes color from red to green when tilted, and a see-through image showing the number “10” when held against light. Microprinted text “BANGLADESH BANK” appears on both sides.

Existing paper notes and coins will remain legal tender. Additionally, non-exchangeable specimen notes will be available for collectors at the Taka Museum for a fixed price.

For the second consecutive day, workers and employees at Chattogram Port have enforced a blockade protesting the government’s decision to appoint a foreign operator at the New Mooring Container Terminal (NCT). The program, organized under the banners of the Nationalist Workers Party and the Workers-Employees Unity Council, has brought the country’s main import-export hub to a standstill. Although limited container handling continues at the jetty, no new goods are entering or leaving the port, raising fears of congestion in yards and off-docks.

The protest follows a High Court ruling favoring the government’s plan to hand over NCT operations to global terminal operator DP World. In response, the port authority has taken a hardline stance, transferring 11 workers so far and preparing a list of 180 for further action. Additional police have been deployed, and gatherings have been banned in the port area. A committee has been formed to assess financial losses, which stakeholders estimate to exceed hundreds of crores of taka.

Business leaders warn that prolonged disruption could harm the national economy, particularly the garment sector, and cause market instability if the deadlock continues.

Cash holdings outside banks in Bangladesh surged by about Tk 410 billion over December and January, according to Bangladesh Bank data confirmed by its spokesperson Arif Hossain Khan. The increase coincides with intensified campaign activities for the upcoming 13th parliamentary election scheduled for February 12. The central bank attributes the rise to withdrawals by candidates covering election-related expenses, while the Bangladesh Financial Intelligence Unit (BFIU) is monitoring large or suspicious transactions.

Bangladesh Bank data show that cash outside banks rose from Tk 2.69 trillion in November to Tk 3.10 trillion in January. This reverses a previous downward trend observed from July to November. Former World Bank economist Zahid Hossain noted that such increases before elections are not unusual, as campaign spending often involves cash transactions. The BFIU has tightened oversight since January 11, requiring weekly reports on cash transactions of Tk 1 million or more.

Additionally, mobile financial services will be restricted from February 8 to 13 to prevent misuse of funds for voter influence. Daily transaction limits will be capped at Tk 10,000, with a maximum of Tk 1,000 per transaction, as directed by the BFIU at the Election Commission’s request.

Bangladesh and the United States are expected to sign a bilateral trade agreement in Washington on February 9, aimed at reducing U.S. counter-tariffs on Bangladeshi goods and expanding trade benefits. Commerce Secretary Mahbubur Rahman said the draft agreement has been prepared and submitted for approval. He confirmed that the signing date has been set and that final tariff rates will be determined by that day.

The U.S. initially imposed counter-tariffs of 37 percent and later 35 percent on Bangladeshi products under the Trump administration, but after several rounds of talks, the rate was reduced to 20 percent on July 31 last year. Although no formal agreement was signed then, discussions continued to secure further tariff cuts and duty-free access for garments made with U.S. cotton. To gain these benefits, Bangladesh has pledged to reduce its trade deficit with the U.S. by increasing imports of Boeing aircraft, fuel, LNG, wheat, and cotton.

The Commerce Secretary also noted that Bangladesh is pursuing free trade agreements with other countries, including Japan and South Korea, to address post-LDC graduation challenges and enhance export growth.

The three-day Bangladesh Light Engineering Expo 2026 began on Monday, February 2, at the Shaheed Abu Sayeed International Convention Center in Dhaka’s Minto Road. The event was inaugurated by Md. Abdur Rahim Khan, Project Director of the Export Competitiveness for Jobs (EC4J) project. The expo, running until February 4, showcases the latest technologies, machinery, and innovative products from the country’s light engineering sector.

Speakers emphasized coordinated efforts to make the sector export-oriented and competitive as Bangladesh prepares to graduate from LDC status in November. They highlighted the need for capacity building, technology advancement, and policy support to offset the loss of duty-free trade benefits. The World Bank’s Hosna Ferdous Sumi noted that both export and domestic markets, worth around USD 8 billion, offer major opportunities but stressed quality compliance and production efficiency as key challenges.

BSCIC President Abdur Razzak said the sector contributes about 3% to GDP, employs 300,000 skilled workers, and meets half of the USD 8.2 billion domestic demand. With proper policy and investment, exports could reach USD 12.56 billion by 2030, he added.

The Bangladesh Energy Regulatory Commission (BERC) has increased the retail price of liquefied petroleum gas (LPG) for February. The price of a 12-kilogram LPG cylinder has been raised by 50 taka to 1,356 taka. The new rate will take effect from 6 p.m. on Monday. Alongside, the price of autogas has also been increased by 2.34 taka per liter, setting the new consumer price at 62.14 taka per liter including VAT.

According to BERC Chairman Jalal Ahmed, the February adjustment follows the previous revision on January 4, when the price of a 12-kilogram LPG cylinder was raised by 53 taka to 1,306 taka. Similarly, autogas prices were last adjusted on January 4, when the rate was increased by 2.48 taka per liter to 59.80 taka per liter including VAT.

The latest price adjustment reflects BERC’s monthly review process for LPG and autogas rates, which are periodically revised based on market conditions and other regulatory considerations.

Global oil prices declined on Monday following remarks by U.S. President Donald Trump expressing optimism about reaching a deal with Iran. In early Asian trading, West Texas Intermediate crude dropped 3.4 percent to 62.99 dollars per barrel, while Brent crude fell 3.2 percent to 67.09 dollars.

The price movement followed weeks of heightened tension between Washington and Tehran. After anti-government protests in Iran were met with a crackdown, Trump had threatened military action and ordered an aircraft carrier to the Middle East. He has been pressing for a new agreement over Iran’s nuclear program. On Sunday, Iran’s Supreme Leader Ali Khamenei compared the protests to an “uprising” and warned that any military intervention would lead to a regional war.

Responding to Khamenei’s comments, Trump told reporters he hoped for a deal but said time would determine whether Khamenei’s stance was right or wrong.

Bangladesh and the United States are expected to sign a bilateral trade agreement in Washington on February 9 aimed at reducing U.S. counter-tariffs on Bangladeshi goods and expanding trade benefits. Commerce Secretary Mahbubur Rahman said the draft of the agreement has been prepared and submitted for approval. He confirmed that the signing schedule has been set for February 9, pending final authorization.

The U.S. administration under President Donald Trump had initially imposed 37 percent counter-tariffs on Bangladeshi products, later reducing them to 20 percent after several negotiation rounds, though no formal agreement was signed at that time. The upcoming deal is expected to further lower tariffs and secure duty-free access for garments made with U.S. cotton. To obtain these benefits, Bangladesh has pledged to reduce its trade deficit with the U.S. by increasing imports of Boeing aircraft, fuel, LNG, wheat, and cotton.

The commerce secretary clarified that military items such as fighter jets are not part of the trade deal. He added that Bangladesh is also advancing free trade agreements with Japan, South Korea, and other partners to strengthen its post-LDC graduation trade position.

Bangladesh Bank has asked all banks in the country to provide detailed information on agricultural loans up to Tk 10,000. The request followed a query from board member and Dhaka University professor Rashed Al Mahmud Titumir. The central bank’s Agricultural Credit Department sent an email after office hours on Thursday, instructing banks to submit the data by noon on Sunday. Executive Director and spokesperson Arif Hossain Khan confirmed the directive.

According to the letter, banks were told to report the total principal, interest or profit, and outstanding balance of loans and investments in the agriculture and rural sectors up to Tk 10,000 as of December 31 of the previous year. The reason for the sudden request was not disclosed, and the spokesperson said he was unaware of the purpose behind it. The report notes that the data collection was not discussed at any board meeting or through the usual internal approval process.

In the first six months of the current fiscal year, banks disbursed Tk 21,000 crore in agricultural loans, marking a 29 percent increase from the same period last year.

Bangladesh Bank reported that remittance inflows rose sharply in January 2026, reaching USD 3.17 billion, a 45.10 percent increase compared to USD 2.185 billion in January 2025. Sector insiders attributed the surge to funds sent ahead of the upcoming national election and Ramadan, as many candidates and families transferred money from abroad. The data was published in the central bank’s latest report.

From July 2025 to January 2026, total remittances amounted to USD 19.43 billion, up 21.80 percent from the same period of the previous fiscal year. Bankers explained that the decline in money laundering and increased use of formal channels have boosted remittance inflows, improving dollar supply and strengthening foreign exchange reserves. Bangladesh Bank has purchased USD 3.93 billion since July to maintain market balance.

As of January 29, 2026, the country’s foreign exchange reserves stood at USD 33.18 billion, or USD 28.68 billion under BPM-6 standards. The central bank noted that higher remittance inflows and dollar purchases have contributed to the recent rise in reserves.

India’s new fiscal year budget has increased grant assistance to Bangladesh by 74 percent, allocating 600 million rupees for the 2027 financial year. According to The Hindu Business Line, citing India’s central budget documents, this marks a significant rise from the revised figure of 344.8 million rupees in the previous year. The report noted that despite domestic discussions about anti-India sentiment, New Delhi expanded its allocation to Dhaka.

The budget also shows India halting all grants to Iran’s Chabahar Port, which previously received 4 billion rupees, reportedly due to U.S. sanctions pressure. Meanwhile, Afghanistan’s grant rose by 50 percent to 1.5 billion rupees, and Bhutan remains the largest recipient with a total of 22.88 billion rupees. In contrast, allocations for Nepal, the Maldives, and Mauritius were reduced, with Mauritius facing the steepest cut of about 33 percent.

Overall, India proposed 87.92 billion rupees in total foreign grants and loans, down 27 percent from the previous year’s revised figure, signaling a strategic and financial restructuring of its foreign aid program.