The administration of US President Donald Trump has announced a broad sanctions programme called “Operation Economic Outcast,” aimed at fully isolating Iran from the global economy and cutting off its main revenue sources. The US Treasury Department formally announced the measure on Monday, August 24. Treasury Secretary Scott Bessent described the initiative as an “economic D-Day.”

Bessent said the operation seeks to halt all Iranian sources of income, including the oil sector, and deter other countries and companies from doing business with Tehran. He said Washington’s global objective is to sever every economic lifeline sustaining Iran’s ruling authorities and leave Tehran isolated.

The US warned countries and entities continuing oil trade or other commerce with Iran that they would be targeted if they facilitate such transactions. Bessent said countries would have to choose between the United States and Iran, adding that no one was beyond the reach of US sanctions. The announcement came amid heightened Middle East tensions, while shipping through the strategic Strait of Hormuz has fallen sharply, raising concern in international markets.

Canada is considering several ways to pressure the United States as their trade dispute intensifies, including dollar-for-dollar retaliatory tariffs proposed by Prime Minister Mark Carney. The preliminary list could cover steel, dairy products, household appliances, farm machinery, electronics, pulp and paper, although it has not been finalized. Canada sends about 70 percent of its goods to the United States, while Canada is a major market for products from 26 US states and among the top three buyers for 45 states.

Carney said Canada supplies a large share of US imported natural gas and electricity, as well as about 60 percent of US crude-oil imports. Energy is not currently on Canada’s retaliation list, but political leaders say the option remains open. Ontario Premier Doug Ford has raised a possible energy surcharge and also cited Canada’s importance as a supplier of potash and critical minerals such as lithium, nickel and graphite.

Canadian provinces have already removed US alcohol from many store shelves, with official data showing US wine exports to Canada fell 78 percent annually. Carney said a threatened 50 percent US tariff on Canadian vehicles and parts after January 1 would hurt American workers dependent on Canadian buyers.

Global ocean surface temperatures reached a record high on Saturday, with the average sea surface temperature rising to 21.1 degrees Celsius, according to the European Union’s Copernicus Climate Change Service. The reading is described as the highest recorded ocean temperature and is especially concerning because global sea surface temperatures usually peak in March and April, not August.

The previous record for the highest daily average temperature was 21.09 degrees Celsius, recorded in March 2024. Scientists say long-term human-caused climate change has been raising ocean temperatures, while a strong El Niño condition in the Pacific Ocean has added to the warming. They caution, however, that El Niño alone cannot explain the record.

Oceans absorb more than 90 percent of Earth’s excess heat, so warming waters place added strain on the climate system. Higher ocean temperatures can raise sea levels and intensify storms and marine heatwaves, while threatening coral, seagrass and fish species. Experts say rapid cuts in fossil-fuel use and carbon emissions are necessary to limit the situation and protect marine ecosystems.

Climate change impacts are becoming increasingly visible worldwide, including record temperatures, drought, crop losses and wildfires in the United Kingdom, while some political debate remains focused on the cost of implementing climate policies. A BBC Radio 4 discussion examined whether it is already too late to address the crisis.

Guardian columnist Joe Williams said there is still no reason to lose hope and argued that collective action is needed regardless of how much global temperatures rise. Participants also said some climate-related losses may already be irreversible, citing concerns over the survival of birch trees in southern and eastern England.

Williams criticized comments by Conservative MP Nigel Huddleston, saying it conflicts with reality to emphasize the expense of cutting carbon emissions and reaching net zero amid visible climate impacts. He also rejected the argument that the UK should avoid responsibility because it accounts for about 1 percent of global carbon emissions, warning that waiting for countries including China to act would deepen the crisis. The article says political statements should align with the reality of climate change as time to respond rapidly narrows.

Prime Minister’s Political Adviser Zahir Uddin Swapan said the elected government is working relentlessly to overcome a fragile economy inherited amid problems in the power and energy sectors. He made the remarks on Tuesday at a discussion marking the 43rd founding anniversary of the Daily Janata newspaper at the National Press Club.

Swapan attributed the situation to what he described as 17 years of flawed energy policy, unplanned projects and extensive looting by the previous government. He said the government had automatically inherited the crisis after being elected and was pursuing hard work to emerge from it.

He also said the government was prepared to provide policy support to institutionalise the media and protect the interests of all parties connected with newspapers. Calling the media the fourth pillar of the state, he said journalism should question those in power to ensure accountability, and that an elected democratic government welcomes such questions. He reiterated support for newspaper owners, editors, journalists, printing workers and others in the media industry.

Bangladesh’s Financial Institutions Division has directed Sonali Bank PLC to prioritize actual cash recovery of defaulted loans rather than relying on reclassification or accounting adjustments. The instruction was raised at a recent meeting between Financial Institutions Division Secretary Nazma Mobarek and the bank’s board, which reviewed its financial and operational condition, progress, risks, opportunities and policy needs.

Although Sonali Bank’s default-loan ratio has fallen to 16.4 percent, the division considers the level still high by the standards of a sound and efficient commercial bank. It called for strict oversight, stronger governance and safeguards to ensure Bangladesh Bank’s special exit facility supports genuine settlement and cash collection, rather than extending loans. The board was also asked for information on classified loans eligible for the facility, applications received and cases resolved.

The government urged greater financing for cottage, micro, small and medium enterprises, agriculture, women and new entrepreneurs, while stressing borrower assessment, cash flow, business viability and ownership checks before lending. Priorities for the next 12 to 24 months include improving recoveries, expanding quality lending and digital banking, strengthening risk management, and improving customer services and financial-inclusion programmes.

Farmers in several Bangladeshi regions say an ongoing fertilizer shortage is disrupting cultivation during the Aman season, with concerns that production could fall below target. They report difficulty obtaining TSP and DAP fertilizers despite queues and higher prices, while the Agriculture Ministry has ordered stronger oversight by deputy commissioners and formed a high-level monitoring committee.

Farmers in Kurigram said non-urea fertilizer is unavailable even after waiting in line, and alleged that supplies are sold at prices above government rates. Dealers say monthly government supplies meet demand for about 15 days before shortages emerge. Ministry-linked officials and agricultural officers contend that overall stocks are adequate, blaming artificial shortages, panic buying, misuse, hoarding and fertilizer resale.

The ministry has instructed authorities to act against dealers in 15 northern districts, excluding Panchagarh, who did not collect fertilizer using demand orders. Three deputy directors were withdrawn for negligence, while the new committee must submit weekly reports. The Bangladesh Fertilizer Association urged sales at fixed prices and warned that policy violations could lead to dealership cancellation. The ministry secretary said conditions were expected to improve within a week.

Bangladesh’s hilsa fishery is facing seasonal shortages, unusually high prices and a growing presence of small fish in markets, despite hilsa’s status as the national fish and a geographically indicated product. The article argues that national pride in hilsa cannot protect the resource without science-based management, effective law enforcement, good governance and sustained political commitment. Hilsa production totaled about 529,000 tonnes in fiscal year 2023-24, down from roughly 571,000 tonnes a year earlier, an estimated decline of about 8 percent.

The article identifies river degradation, pollution, loss of navigability, jatka catching, prohibited fine-mesh nets and climate change as major pressures on the migratory fish. It says poor fishers may violate seasonal bans when food support is inadequate, while eligible fishers can miss government assistance because of irregularities or political influence. Enforcement campaigns against illegal nets have not produced lasting results because producers, wholesalers and influential syndicates are not consistently targeted.

The article also links retail price increases to intermediaries, depot operators, stockpilers and weak market oversight. It calls for coordinated action across agencies on river protection, pollution control, livelihoods and market transparency, alongside dredging, cold chains, digital auctions and stronger fisher cooperatives. It says permanent, accountable reforms are needed beyond seasonal campaigns.

Fresh erosion driven by the Padma River’s strong current has hit Jajira upazila in Shariatpur, affecting nearly 1,000 families in Majhirghat, Palerchar Bazar, Kathuria, Modhu Madbarer Kandi, Pailan Mollar Kandi and nearby areas. In Kathuria, about 150 metres of land, including a road and electricity poles, has already been swallowed by the river. Thousands of residents are living in fear as the erosion continues.

Within several hours, several more metres of land disappeared in Kathuria, according to an on-site account. Twenty-five homes and seven shops have been dismantled and moved for safety. Electricity workers are relocating vulnerable poles, while residents are removing bricks from the road. Locals allege that illegal sand extraction from the riverbed and delayed action by the Bangladesh Water Development Board have worsened the situation.

The water board said work is underway through 39 packages on a 10.67-kilometre riverbank protection embankment from Naodoba to Pathaliakandi at a cost of Tk 1,130 crore. It said three kilometres of the project are currently at risk, while emergency sand-filled geobags are being placed after earlier geobags were washed away by strong currents.

Average global sea-surface temperature outside the polar regions reached a record 21.1°C on Saturday, according to the European Union’s Copernicus Climate Change Service. The reading slightly exceeded the previous 21.09°C record registered for three days in March 2024. Scientists said the timing is particularly concerning because the new record was set in August, whereas global ocean temperatures usually peak in March or April.

The record has occurred before the strengthening El Niño reaches its maximum intensity. El Niño brings unusually warm water to the surface in the central and eastern equatorial Pacific, raising global average temperatures. Copernicus deputy director Samantha Burgess said the record was a clear signal of mounting pressure on the oceans, with El Niño adding heat to a system already warmed over decades by human activity.

Scientists said El Niño could strengthen until around Christmas and warned it may be heading toward one of the strongest events in several centuries. Marine heatwaves are also affecting waters near Europe, while warmer seas can intensify storms, increase coastal flood risks and damage marine ecosystems, including coral reefs.

Bangladesh Bank Governor Md Mostaqur Rahman has said depositors of the five merged banks will face no haircut on their profits. The central bank has also instructed Sammilito Islami Bank to make arrangements so depositors can withdraw money according to their needs from September 1.

The directive was issued during a Tuesday meeting between the governor and Sammilito Islami Bank Chairman Kazi Shairul Hasan and Managing Director Abedur Rahman Sikdar. Bangladesh Bank said the governor asked the bank to remove uncertainty among depositors over profits, stressing that all depositors must be clearly informed that no haircut will be applied.

Under a scheme announced on December 29, deposits are already being repaid, Bangladesh Bank said. From September 1, individual depositors will be able to withdraw funds beyond the specified portion of principal in Al-Wadiah current accounts, Mudaraba savings accounts and Mudaraba term deposits, based on need. The bank, launched with Tk35,000 crore in capital, was also told to take steps to resume all normal banking operations quickly.

State Minister for Water Resources Farhad Hossain Azad inspected a damaged Khowai River embankment in Kaliganj, Laskarpur Union of Habiganj Sadar Upazila at 11am on Tuesday. He said projects needed to ease people’s suffering would be taken up quickly, following flooding caused by the breach.

Azad said he visited on the instruction of Prime Minister Tarique Rahman to pursue a permanent solution. As an immediate measure, he said the embankment would be repaired with geo-bags. Habiganj-3 MP and Whip Alhaj GK Gaus, Habiganj-2 MP Dr Sakhawat Hasan Jibon, Deputy Commissioner GM Sarfaraz, Water Development Board Executive Engineer Sayedul Haque and local residents were present.

He said several projects had been adopted to prevent Habiganj town from being inundated, with work expected to begin immediately after the monsoon. Rising Khowai River water breached the embankment on Sunday morning, flooding at least 20 villages. Cropland, ponds and fish from fisheries were washed away, according to the report.

Noakhali authorities removed the controversial “Rickshaw Puller’s Embankment,” also known as the Farakka embankment, from Algeer canal in Kabirhat উপজেলা on Monday, August 24. BNP Vice Chairman and Noakhali-4 lawmaker Md Shahjahan said resolving waterlogging and drainage problems would free Noakhali from a long-standing burden and support its prosperity. The embankment was cut to restore the canal’s natural water flow.

The earthen embankment was originally built to stop saline water from the Bamni River from entering the area. It later became a major obstruction to water drainage in Noakhali Sadar, Kabirhat and Companiganj. Noakhali-5 lawmaker Mohammad Fakhrul Islam, former district BNP president Golam Haider BSc, local party leaders, officials, public representatives and residents attended the removal.

Authorities decided to remove the embankment after construction of a closure and a 19-vent regulator on the Bamni River. They are also re-excavating a combined 10.5 kilometres of Algeer and Jaliar canals. The administration said the work could relieve waterlogging for about 900,000 people across 150 square kilometres, while supporting agriculture and fisheries and helping protect immovable assets valued at about Tk 2.8 billion.

The High Court has ordered authorities in Muradnagar, Cumilla, to submit a progress report on implementing measures to stop the extraction of fertile soil from agricultural land. The order was issued on Monday by a division bench of Justice JBM Hasan and Justice Aziz Ahmed Bhuiyan following a public-interest writ petition filed by Advocate Md Abul Kalam Azad.

The court directed the Upazila Nirbahi Officer and Assistant Commissioner (Land) to seize dredgers and equipment used to excavate fertile soil, shut illegal brickfields, and investigate cultivated land and sand pits damaged by dredging. It also called for a time-bound action plan to protect farmland and measures to restore pits created through soil cutting and dredging to their previous agricultural condition.

The order requires progress reports from the Cumilla deputy commissioner, police superintendent, Muradnagar UNO, AC Land, and officers-in-charge of Muradnagar and Bangra Bazar police stations. The petitioner, who heads the Agriculture and Environment Foundation, said local residents had long sought action against illegal dredgers and brickfields, while local journalists had reported on the issue.

Bangladesh’s government has approved the purchase of two cargoes of liquefied natural gas from suppliers in South Korea and the United Kingdom. The decision was taken on Monday at the 41st meeting of the Cabinet Committee on Government Purchase, which approved a proposal submitted by the Energy and Mineral Resources Division.

The proposal was presented under an international quotation collection process for procuring the two LNG cargoes. Under the approved plan, one cargo will be purchased from POSCO International Corporation for delivery during September 13-14 at $24.625 per MMBtu.

A second LNG cargo will be bought from TotalEnergies for delivery during September 23-24 at $24.25 per MMBtu. The LNG procurement proposal was among 13 proposals presented at the committee meeting.