Olympic Cement Limited, a Barishal-based company under Khan Sons Group, has been abruptly shut down after allegations of large-scale money laundering and financial irregularities. Reports claim the company’s chairman, managing director, and directors siphoned off billions of taka to the United States, the United Kingdom, and Dubai, withdrawing all capital from company accounts and defaulting on bank loans. The closure has left over 350 workers without pay or benefits, while the company was allegedly sold secretly to Scan Cement.

Following complaints, Barishal Divisional Commissioner Khalil Ahmed summoned company officials and ordered immediate payment of workers’ dues. Authorities have frozen 90 company trucks and a lighter vessel and restricted the directors from leaving the country. The managing director has promised to pay Tk 9 crore in wages and benefits by June 19.

The National Board of Revenue’s customs and VAT intelligence units have launched investigations into alleged tax evasion, VAT fraud, and money laundering by the company. Officials indicated that the factory’s financial crisis deepened after years of irregularities and foreign fund transfers.

Bangladesh has recently experienced a series of mild earthquakes, sparking growing public concern and warnings from geologists that these tremors may signal an impending major seismic event. Although the recent quakes caused little damage, experts say the frequent low-intensity shocks indicate the gradual release of underground energy, heightening the risk of a large-scale earthquake. Government preparedness remains limited, with little visible progress on earlier expert recommendations.

At a recent roundtable in Dhaka, the state minister for health warned that a major quake in the densely populated capital could cripple essential services. UNICEF officials and government representatives stressed the need for better disaster planning and identification of vulnerable populations. Experts from BUET and Jahangirnagar University reiterated that Bangladesh sits on active tectonic fault lines and that the absence of a major quake for over a century has allowed dangerous pressure to build underground.

Specialists urged immediate structural assessments of buildings, retrofitting of weak structures, and legal reforms to strengthen disaster response. They cautioned that Dhaka’s unplanned construction and soft soil could amplify destruction if a strong earthquake strikes.

The Bangladesh Meteorological Department has issued a warning for 13 regions, forecasting gusty winds of up to 60 kilometers per hour by Thursday noon. The alert includes the possibility of rain or thunderstorms in affected areas. The regions under warning are Rangpur, Tangail, Mymensingh, Dhaka, Faridpur, Khulna, Barishal, Patuakhali, Cumilla, Noakhali, Chattogram, Cox’s Bazar, and Sylhet.

According to a special weather bulletin for inland river ports, winds may blow temporarily from the south or southeast direction with speeds between 45 and 60 kilometers per hour. The advisory instructs river ports in these regions to display cautionary signal number one from 5 a.m. to 1 p.m. on Thursday. Authorities have also advised vessels to navigate carefully during this period.

The warning comes amid ongoing monsoon conditions, with forecasts of continued rainfall in Dhaka and other parts of the country, offering some relief from recent heat and humidity.

The Bangladesh government is set to invite international tenders for oil and gas exploration onshore, following a similar initiative in offshore areas. Senior officials from the Energy Division and Petrobangla confirmed that the process has been finalized. The move aims to reduce import dependence and strengthen domestic energy production as part of the government’s broader energy security policy.

Officials noted that no major exploration initiatives had been undertaken in the past two decades, leaving the energy sector increasingly reliant on imports. Experts criticized the previous Awami League government for halting exploration and depending heavily on costly LNG imports, which strained the national budget. Current gas demand exceeds 380 crore cubic feet per day, while supply remains around 265 crore cubic feet, creating a daily shortfall of 115 crore cubic feet.

Energy State Minister Anindya Islam Amit said the government expects strong international participation in the new bidding round and plans to strengthen the state-owned Bapex. He added that the initiative seeks to ensure long-term energy security and reduce import dependency.

An embankment in the Palashtola Bakkar Mor area of Dhanua Kamalpur Union, Bakshiganj upazila of Jamalpur district, was breached by floodwaters following heavy rainfall and hill runoff. The breach has allowed water to enter low-lying areas, raising fears among local farmers of severe damage to Aus paddy and jute crops.

According to local sources, a section of the embankment had already collapsed about a month ago due to heavy rain, causing significant losses to Boro paddy at that time. Despite the earlier damage, no effective repair work was undertaken, and the recent downpour and hill floods have worsened the situation. Farmers now fear that hundreds of acres of farmland could be submerged if the embankment is not repaired immediately.

Local farmers have urged the administration and the Water Development Board to take urgent action to repair the damaged embankment and protect their farmland and crops from further destruction.

Dhaka Deputy Commissioner Farida Khanam has said that the Family Card program will become a symbol of empowerment for underprivileged families. She made the remarks on Wednesday at the inauguration ceremony of the Family Card program held at the Ruhitpur Upazila Parishad field in Keraniganj. In this third phase, a total of 1,275 families from two unions of Keraniganj upazila are receiving the cards.

Farida Khanam explained that the initiative reflects the government’s vision that the family, not the individual, is the core unit of development. The Family Card aims to bring genuinely poor, helpless, and disadvantaged families under an integrated social security framework. Currently, more than 95 social safety programs are being implemented through 23 ministries, and the Family Card is designed to unify these scattered services under one platform.

She added that the card will help transform social security from a donation-based system into a citizen’s right and may eventually serve as a universal social identity card for accessing government services more easily.

Global oil prices increased following remarks by US President Donald Trump suggesting potential military action against Iran if a memorandum of understanding between the two countries is not implemented. Trump stated that the United States would 'shoot again' and 'bomb again' if the agreement fails, prompting renewed concern in energy markets.

According to a Reuters report cited by Al Jazeera, Brent crude futures rose by 54 cents, or 0.7 percent, to reach 79.50 dollars per barrel. Meanwhile, US West Texas Intermediate (WTI) crude increased by 49 cents, or 0.6 percent, to 76.54 dollars per barrel. The comments triggered a modest rebound in prices after recent declines.

Despite the uptick, the report noted that global oil prices remain near their lowest levels in the past three months, indicating continued market caution amid geopolitical uncertainty.

The SME Foundation has announced a plan to distribute more than Tk 450 million in loans to micro, small, and medium entrepreneurs across Bangladesh. The loans will be provided under the foundation’s revolving fund through its Credit Wholesaling Program at an 8 percent interest rate. A separate facility, supported by the International Labour Organization, will offer returning migrants loans via the Employment Bank at a 7 percent rate. Agreements were signed in Dhaka with Mutual Trust Bank, Dhaka Bank, and Employment Bank to implement the initiative.

According to the foundation, loans up to Tk 1 million will require no collateral, with repayment periods of up to four years and a six-month grace period. Priority will be given to women, SME clusters, manufacturing, export-oriented and import-substitute industries, IT-based entrepreneurs, ethnic minorities, persons with disabilities, third-gender entrepreneurs, climate-vulnerable businesses, and returning migrants. At least 25 percent of funds will go to women entrepreneurs and 20 percent to SME clusters.

The SME Foundation stated that loan distribution and recovery will be closely monitored to ensure funds reach genuine entrepreneurs. Since its inception, the foundation has disbursed over Tk 12.5 billion to around 13,000 entrepreneurs under this program.

About 340 tons of government rice allocated for sea-going fishermen and beneficiaries under the Vulnerable Group Development (VGD) program remain undistributed in Tazumuddin upazila of Bhola. Although delivery orders were issued, the rice could not be transported due to a shortage of funds for transport costs. The rice, which includes expired and newly allocated stocks, has been lying in the local food warehouse beyond the scheduled distribution period, raising concerns about the effectiveness of the government’s food aid program.

Officials said that several unions failed to collect their allocations within the designated time, leaving large quantities of rice stored in the warehouse. Beneficiaries complained that despite having official documents, they have not received their food aid. Local representatives cited insufficient government transport allowances as the main reason for the delay, while officials from the Women Affairs Office and the Food Department gave differing statements about the status of distribution.

Local observers warned that if the issue is not resolved quickly, it could disrupt upcoming grain storage and procurement operations and undermine the objectives of the government’s food assistance initiatives.

Foreign Minister Khalilur Rahman told Parliament that Bangladesh has recently signed an Agreement on Reciprocal Trade (ART) with the United States. The deal ensures zero-duty benefits for garments made from US cotton and is expected to strengthen Bangladesh’s position in global supply chains while attracting foreign investment and enhancing energy security.

He said expanding export markets, diversifying exports, attracting international investment, and achieving employment-oriented growth are key government priorities. The government is emphasizing economic diplomacy to engage local entrepreneurs in global trade and boost economic dynamism through foreign investment. Relevant agencies, including BIDA, BEZA, and the Ministry of Commerce, are working together toward these goals.

The minister added that Bangladesh is pursuing trade agreements such as PTAs, FTAs, and CEPAs with several countries, including the UAE, Malaysia, Singapore, and Thailand, while also seeking stronger ties with regional blocs like GCC and Mercosur. He also noted new export opportunities for agricultural products, such as potatoes to Vietnam and ongoing efforts to export mangoes to Malaysia.

Popular Bangladeshi singer Asif Akbar has called for recognizing entertainment as the country's sixth basic need, citing a severe shortage of recreational opportunities. In a Facebook post on Tuesday, he emphasized that entertainment is vital for mental development, especially for children, and that its absence fosters violence, jealousy, and frustration. He argued that sports and cultural activities are the most effective ways to nurture creativity and emotional well-being.

Asif also highlighted the cultural vision of late President Ziaur Rahman, recalling his meetings with musicians in 1979–80 that helped shape the country's band music scene. He noted that Zia had removed import duties on Western instruments, which contributed to the 1990s band music boom. Asif praised the current government for fully withdrawing a previously imposed 5% duty in the 2026–27 budget, saying it would strengthen the foundation of Bangladeshi music amid the rise of AI-generated music.

He further urged the government to launch a nationwide cultural revolution, stressing that entertainment is a fundamental right for children and essential for building a healthy, prosperous nation.

Prime Minister and Leader of the House Tarique Rahman informed the National Parliament that the government is planning to construct another barrage on the Teesta River to conserve water during the dry season. He said that technical and financial aspects of the project are currently under examination at various stages. The announcement came on Wednesday in response to a question from NCP Member of Parliament Akhtar Hossain during a parliamentary session chaired by Speaker Hafiz Uddin Ahmed.

The Prime Minister added that a feasibility study for a sustainable and integrated development plan centered on the Teesta River has already been completed. The study report proposes the Teesta Master Plan, which includes 110 kilometers of riverbank protection, 110 kilometers of river dredging, 224 kilometers of flood control embankments with roads, construction and repair of 67 groynes or spurs, and recovery and development of 170 square kilometers of land.

The plan aims to ensure sustainable river management and enhance water resource utilization in the Teesta basin, though implementation details and timelines have not yet been disclosed.

The International Energy Agency (IEA) reported that the reopening of the Hormuz Strait will allow the global oil market to gradually return to normal conditions. According to its latest monthly oil market report, the removal of the U.S. naval blockade and the resumption of operations through the Iranian-controlled strait have eased a major supply disruption that had previously affected more than 14 million barrels of daily production and transport.

The IEA noted that if current agreements remain effective, oil production and exports from the Gulf region will steadily increase. The lifting of U.S. restrictions has created an opportunity for Iran to fully restart its oil exports. The agency’s data show that oil flow through the strait, which had dropped to 9.6 million barrels per day in May, has now risen to about 12 million barrels per day due to increased ship-to-ship transfers in the Gulf of Oman.

However, the IEA cautioned that full normalization will take time as mine clearance and supply chain repairs continue. Once these challenges are resolved, the agency expects stability and gradual improvement in global oil supply.

Bangladesh’s Commerce Minister said rice prices and supply remain stable following an inspection of wholesale and retail markets in Dhaka. Speaking at the ministry after visiting Badamtoli and Nayabazar markets on Wednesday, he noted that government stocks of rice and wheat are satisfactory. The visit was prompted by a newspaper report suggesting rising rice prices, but the minister found no significant change. Some traders reported a minor post-Eid increase of one to one and a half taka per kilogram, which he said does not indicate a major price hike.

The minister added that a few mill owners had attempted to raise prices by 100 taka per sack, but the market did not accept the increase and prices later fell. He explained that small variations of one to two taka are normal due to differences in rice quality and harvest timing. He also said supplies of essential goods, including edible oil, remain stable and are being monitored daily.

Food State Minister Md. Abdul Bari stated that the government currently holds about two million tons of food grains, exceeding emergency reserve requirements, ensuring no supply shortage or crisis in the rice market.

Bangladesh is set to establish its first-ever free trade zones in the Chattogram Port and Matarbari areas, according to Cabinet Secretary Nasimul Gani. The announcement came after a meeting of the Cabinet Committee on Economic Affairs held on Wednesday at the Secretariat. The zones will allow both foreign and local businesses to trade without taxes, marking a new step in the country’s trade policy framework.

The Cabinet Secretary stated that two sites have been selected for the initiative—one near Matarbari Port and another adjacent to Chattogram Port—covering between 300 and 600 acres each. Alongside this development, the government also approved imports of 30,000 metric tons of urea fertilizer from Russia, 25,000 metric tons from Saudi Arabia, and raw materials for 15,000 metric tons of sulfuric acid from three countries.

He added that due to the closure of the Hormuz Strait, Bangladesh is purchasing fuel from the spot market and has approved two shipments for June and early July. The government emphasized that administrative activities are progressing rapidly with a focus on public service delivery.