After a deadly 12-day war with Israel, Iran’s military leadership, including IRGC Commander Mohammad Pakpour and Armed Forces Chief Amir Hatami, convened on Thursday, declaring their readiness to resume resistance if war resumes.

General Pakpour described the war as one of the most complex conspiracies in Iran’s history and emphasized the IRGC’s enhanced unity. Hatami labeled Israel the greatest threat to the Muslim world and honored fallen martyrs. Both leaders affirmed that the army and IRGC will jointly protect Iran’s sovereignty and dignity.

The National Board of Revenue (NBR) has withdrawn the excise duty on raw materials used in the ready-made garments (RMG) sector, including cotton, synthetic fibers, and acrylic. According to a notification issued on July 17, these imported materials will now attract zero percent excise duty. Previously, there was a 2% advance income tax on cotton imports, which had been criticized by industry stakeholders.

The textile sector supplies approximately 70% of the yarn and fabric used in the RMG industry, which has investments worth nearly $23 billion. This decision is expected to provide some relief to the sector, which plays a crucial role in the country’s economy.

Bangladesh’s total foreign currency reserves have increased to $30.02 billion, according to the latest data from Bangladesh Bank. However, using the IMF’s BPM6 calculation method, which excludes short-term liabilities, the net reserve stands at $24.99 billion. The recent rise follows a payment of $2.02 billion to the Asian Clearing Union, which had temporarily reduced reserves earlier this month. Officials noted a gradual recovery over the past weeks. The BPM6 method is now the global standard for reporting accurate net reserves.

Chinese Ambassador Yao Wen met with Bangladesh's Commerce Advisor Sheikh Bashir Uddin on July 16 at the Secretariat in Dhaka. The two discussed strengthening trade and investment cooperation between the two nations. Both sides emphasized the importance of deepening bilateral ties and exploring new avenues for economic collaboration. The meeting reflects ongoing efforts by Bangladesh and China to enhance strategic partnerships, particularly in the areas of commerce and investment, aiming for mutual growth and long-term economic benefits.

Despite suspending normal visa operations after the fall of the Awami League government, India is now issuing a "significant number" of visas to Bangladeshi nationals, confirmed MEA spokesperson Randhir Jaiswal. He stated that visas are being granted for travel, medical, and educational purposes. However, he did not specify the exact number of visas issued.

India’s merchandise trade deficit is projected to rise to $300 billion in the 2025–26 fiscal year, up from $287 billion last year, driven by sluggish exports and robust import growth. According to an ICICI Bank report, weaker demand in major global markets—excluding the U.S.—has slowed export momentum. U.S. demand remains relatively high due to advance orders ahead of potential tariffs. Meanwhile, strong domestic consumption is expected to boost imports further, potentially widening the trade imbalance.

According to a statement from the Inter Services Public Relations (ISPR), Wednesday’s violence in Gopalganj was orchestrated by unruly groups in response to the National Citizen Party's (NCP) July march and public rally. The clashes led to injuries among police officers and journalists, along with arson and vandalism of public property. In a joint operation, the army, police, and Border Guard Bangladesh (BGB) intervened to disperse the attackers. Despite warnings from military loudspeakers, protestors hurled crude bombs and bricks, prompting a forceful response in self-defense. The situation is now under control with a curfew in place, and authorities have urged citizens not to fall for rumors.

Bangladesh's economy has hit a period of stagnation due to weak revenue collection, a widening budget deficit, and mounting inflationary pressures, according to the Bangladesh Bank’s annual report for FY 2023–24.

The report warns that the economic slowdown is threatening overall macroeconomic stability. Reduced funding for development projects has led to a liquidity crisis in the banking sector, forcing the government to rely heavily on borrowing—further fueling inflation.

However, the report notes some recent signs of recovery following a change in government. Improvements in fiscal discipline, rising domestic savings, and initiatives to boost investment have generated cautious optimism. Inflation is also showing signs of a gradual decline. To ensure long-term stability, the central bank emphasizes the need to increase private sector investment.

World Bank Vice President for South Asia, Martin Raiser, has commended the Government of Bangladesh for its commitment to transparency and accountability. Speaking at the end of his official visit on Wednesday, Raiser noted that bold and urgent reforms could significantly accelerate inclusive economic growth in the country.

The World Bank pledged over $3 billion in the last fiscal year to support Bangladesh’s health, water, sanitation, and social protection sectors. Raiser reaffirmed the World Bank’s continued partnership with Bangladesh, emphasizing support for economic and climate resilience and the creation of job opportunities.

Saudi Arabia has strongly condemned Israel’s continued airstrikes on Syrian territory and reiterated its firm support for Syria’s sovereignty and territorial integrity. The Saudi Foreign Ministry described Israel’s repeated violations of international law and breaches of the 1974 Disengagement Agreement as “deplorable.” Riyadh has called upon the international community to stand in solidarity with Syria. The latest Israeli air raids targeted Syrian tanks and military sites in Suwayda and Daraa, just hours after Syrian Defense Minister Murhaf Abu Qasra held ceasefire talks with Druze leaders. Prior to the attacks, the region witnessed armed clashes leaving over a hundred casualties.

The United States has finalized a trade agreement imposing a 19% tariff on Indonesian exports. Under the deal, Indonesia will purchase $15 billion worth of fuel, $4.5 billion in agricultural products, and 50 Boeing aircraft from the US. President Trump warned that attempts to bypass tariffs via third countries would result in stricter penalties. A similar trade deal with Vietnam is near completion. Analysts note that despite aggressive tariff policies, the Trump administration is lagging behind its goal of finalizing 90 trade deals within 90 days.

At the SCO summit in Tianjin, China, Pakistan’s Foreign Minister Ishaq Dar reaffirmed Pakistan’s commitment to maintaining the ceasefire and regional stability with India. However, he warned that peace cannot prevail if aggression and force become state policies. Tensions between India and Pakistan escalated after the April 22 Kashmir attack, later diffused through US-brokered mediation. Dar emphasized resolving disputes through dialogue and diplomacy, calling for SCO to act as a platform for regional stability. He also addressed anti-terror collaboration and the situation in Afghanistan.

Pakistan’s Deputy Prime Minister Ishaq Dar met with Chinese President Xi Jinping during the Shanghai Cooperation Organization (SCO) summit in Beijing. The two leaders discussed strengthening regional security, economic cooperation, and counter-terrorism measures. Dar reaffirmed Pakistan’s commitment to peace and integration and discussed UN Security Council matters in a phone call with Secretary-General António Guterres. He confirmed Pakistan’s continued support for SCO’s stability and economic growth.

In a high-level diplomatic move, Indian Foreign Minister S. Jaishankar met with Chinese President Xi Jinping in Beijing for the first time since the 2020 Galwan Valley clash. Jaishankar was in China to attend the Shanghai Cooperation Organization (SCO) Foreign Ministers’ Meeting. He conveyed greetings from Indian President Droupadi Murmu and Prime Minister Narendra Modi and discussed recent progress in bilateral relations.

The World Bank provided over $3 billion in funding to Bangladesh in the last fiscal year and has committed to maintaining similar support over the next three years. During a meeting in Dhaka with Chief Adviser Professor Muhammad Yunus, Vice President for South Asia Johannes Zutt praised the interim government's financial sector reforms and reaffirmed the Bank’s support for inclusive growth in Bangladesh. Zutt commended Yunus's leadership in youth engagement and women’s empowerment. Yunus emphasized harnessing youth for industrial growth and envisioned Bangladesh as a major economic force.