Spanish energy company Repsol has signed an agreement to explore a light crude oil field in Venezuela. The deal was finalized on Tuesday in one of the country’s main oil-producing regions, which holds the world’s largest proven oil reserves. The exploration will take place on the eastern shore of Lake Maracaibo in the oil-rich northwest of the country.

Interim President Delcy Rodríguez has opened Venezuela’s hydrocarbon sector to foreign investment after President Nicolás Maduro was detained during a U.S. military operation. Under pressure from Washington, Rodríguez pushed reform legislation through parliament to attract international partners. Repsol had agreed in April to resume its operations in Venezuela.

State oil company PDVSA’s president Héctor Obregón Pérez said the country aims to achieve growth in both gas and oil sectors. Repsol CEO Josu Jon Imaz San reaffirmed the company’s commitment to investing in Venezuela, while Rodríguez emphasized that Repsol had maintained its dedication during difficult times and would now receive guarantees for expanding its investments.

Iran and the United States have outlined a proposed $300 billion private investment fund aimed at attracting global capital to Iran under a new bilateral agreement. According to a Reuters report citing a source directly involved, more than half of the fund’s capital has already been pledged. The agreement, expected to be signed on Friday in Washington and Tehran, is designed to encourage both sides toward a final and lasting peace settlement following months of conflict.

The fund will be entirely financed by private entities, with no government grants or public money involved. Companies from the United States, Gulf Arab states, Asia, South America, and Africa have reportedly committed to participate. The investment will target energy, logistics, manufacturing, and transport sectors. The initiative emerged after Tehran’s initial $400 billion compensation demand was rejected by Washington, leading to the creation of this reconstruction and development mechanism instead.

The fund will only become operational after the final agreement is signed, followed by a 60-day planning phase. Pakistan has acted as a mediator, while the White House confirmed that Iran must meet conditions including halting its nuclear program and allowing international inspections to access the fund’s benefits.

Bangladesh’s finance minister Amir Khosru Mahmud Chowdhury presented a new amendment to the Income Tax Act in parliament on June 11, 2026. The proposal states that if a company fails to pay loan interest within three years, the unpaid amount will be treated as business income and taxed accordingly. The measure aims to prevent companies from repeatedly claiming unpaid interest as expenses to reduce taxable profits.

According to the amendment, if the unpaid interest is later settled after the three-year period, it will then be considered an allowable expense for that year. The change aligns the tax law with international accounting standards under the International Financial Reporting System (IFRS), which follows the accrual basis of accounting. Previously, the National Board of Revenue (NBR) applied a cost basis, recognizing expenses only when payments were made.

Officials explained that the amendment resolves inconsistencies between accounting and tax reporting practices, ensuring that companies cannot indefinitely defer tax liabilities by delaying interest payments.

Bangladesh’s apparel exports to the European Union, the country’s largest export destination, dropped sharply in the first quarter of 2026. According to Eurostat data, export earnings from January to March fell by 19.26 percent year-on-year to 4.59 billion euros, down from 5.68 billion euros in the same period of 2025. In March alone, exports declined by 19.24 percent to 1.7 billion euros, a loss of about 410 million euros compared to the previous year.

The decline was driven by both reduced export volume and lower average prices. During the three months, Bangladesh’s export volume fell by 8.32 percent, while the average price per kilogram dropped by 11.93 percent. The EU’s total apparel imports from all countries also decreased by 11.62 percent in value and 8.32 percent in quantity during the same period.

Industry stakeholders warned that since nearly half of Bangladesh’s total export earnings come from the EU, a prolonged downturn in this market could negatively affect the broader economy. They also noted that global trade shifts and stronger competition from China, India, Vietnam, and other exporters have intensified challenges in the European market.

Bangladesh’s banking sector expanded loan rescheduling sharply in 2025 to reduce reported defaults. According to the Bangladesh Bank’s Financial Stability Report 2025, banks rescheduled Tk 984.33 billion in default loans last year, bringing total rescheduled loans to Tk 4.46 trillion by year-end. This marked a significant rise from Tk 3.48 trillion in 2024, with 57 percent of rescheduled loans concentrated in the top ten banks.

The report shows that rescheduling has accelerated since 2022, when banks were given full authority to renew defaulted loans. Policy changes allowed borrowers to reschedule by depositing as little as 2 to 4.5 percent of outstanding amounts, with up to ten-year terms and two-year grace periods. Of 1,516 applications under special policy support, 250 loans worth Tk 261.14 billion were implemented. However, 39.87 percent of rescheduled loans have again defaulted.

The IMF classifies rescheduled loans as “stressed,” and combined with defaults and written-off loans, Bangladesh’s distressed credit reached Tk 10.87 trillion by December 2025, or 30.6 percent of total lending. The industrial sector accounted for the largest share of rescheduled loans at 29.56 percent.

The government has dissolved the board of Islami Bank, Bangladesh’s largest private bank, following escalating political tensions surrounding its ownership and management. The move comes after prolonged disputes between the ruling party and the main opposition over control of the institution. The Association of Bankers Bangladesh (ABB) met with the central bank governor to express concern, and the governor acknowledged the issue had become politicized. The author argues that such politicization undermines governance and could unsettle international confidence.

The article traces the bank’s troubled history, including alleged misuse of state agencies under the previous administration to transfer ownership to businessman S. Alam, accused of large-scale financial misappropriation. The interim government led by Dr. Yunus had restructured the bank, restoring stability, but renewed turmoil has emerged under the current elected government. The author warns that political interference in banking could jeopardize economic recovery and foreign loan negotiations.

The commentary concludes that the government must restore depositor confidence by recovering misappropriated funds, appointing competent management, and ensuring liquidity support. Failure to depoliticize the financial sector could threaten remittance inflows and overall economic stability.

Global crude oil prices dropped sharply to their lowest level in three months following reports of a potential peace agreement between Iran and the United States. For the first time since the Iran war began, the benchmark Brent crude price fell below 80 dollars per barrel, reaching 79.96 dollars on Tuesday. Traders expect a lasting agreement to ease tensions between Washington and Tehran, which has driven a 15-dollar decline in Brent prices since last Thursday.

Iran’s state media reported that its oil tankers have resumed operations at sea after progress in talks with the United States. Three Iranian oil tankers were said to be sailing in the northern Indian Ocean, while two others carrying essential goods and livestock feed were heading to southern ports. The report also indicated that the naval blockade on Iran has begun to be lifted, suggesting a relaxation of US naval restrictions.

At the G7 summit, European leaders expressed less certainty than US President Donald Trump about the Strait of Hormuz reopening by Friday, reflecting differing levels of optimism among allies.

After the dissolution of Islami Bank’s chairman and entire board, the bank’s operations have begun returning to normal. Customer anxiety and cash withdrawal pressure have eased, while fixed deposit accounts are being reopened. ATM booths and online banking services, previously inactive, are now operational again. On Tuesday, deposits exceeded withdrawals by 964 crore taka, though electronic transfers kept the bank’s net position negative by about 450 crore taka.

Bank officials reported that pending electronic fund transfers and real-time settlements are being cleared, contributing to some remaining pressure. However, overall liquidity conditions are improving. About 502 customers have reopened their fixed deposit accounts, adding 45 crore taka in new deposits. The bank announced that customers who prematurely encashed deposits between June 1 and 15 may reactivate accounts within seven working days with previous benefits intact.

Senior management stated that ATM and online services are functioning, and full normalization may take another week. The interim board, led by Bangladesh Bank’s executive director Mohammad Zahir Hossain, is working to form a new five-member board to restore stability and depositor confidence.

The global economy is undergoing a structural transformation following the military operations by the United States and Israel centered on Iran. Although a recent framework agreement between Washington and Tehran has raised hopes of ending the conflict, analysts believe the pre-war global economic order will not easily return. The conflict has disrupted Middle Eastern security, global energy markets, trade supply chains, and international political balance.

Energy markets have been severely affected, with oil and gas supplies from the Middle East nearly halted during the war, forcing import-dependent nations to seek alternatives. Short-term reliance on coal in countries like Japan and South Korea is giving way to long-term investment in renewables such as solar and wind power, alongside renewed interest in nuclear energy. Russia has strengthened ties with Saudi Arabia and benefited from eased sanctions, while China has emerged as the main beneficiary of the global shift toward renewable energy.

Economists warn that even after the war, uncertainty in the Strait of Hormuz and damaged Gulf infrastructure will continue to raise transport and insurance costs. The World Bank has lowered global growth forecasts and expects persistent inflationary pressure, signaling a prolonged period of slower growth and heightened uncertainty.

The Executive Committee of the National Economic Council (ECNEC) has approved the Chinese Economic and Industrial Zone (CEIZ) project in Anwara, Chattogram, with an estimated cost of Tk 41.89 billion. The approval came on Tuesday, June 16, 2026, during a meeting chaired by the Prime Minister. The project, pending for nearly a decade, is expected to generate around 100,000 direct and indirect jobs and attract about USD 500 million in foreign investment, particularly in textiles, pharmaceuticals, and light engineering sectors.

According to the Bangladesh Economic Zones Authority (BEZA), the project will be developed on approximately 800 acres of land under a government-to-government arrangement between Bangladesh and China. Infrastructure construction is scheduled to begin in January 2027 and conclude by December 2031. Of the total cost, Tk 17.22 billion will come from domestic sources and Tk 24.67 billion from foreign loans. The China Road and Bridge Corporation (CRBC) has been nominated as the developer, replacing the earlier proposed China Harbour Engineering Company.

The zone’s location near the Karnaphuli Tunnel, Chattogram Port, and Shah Amanat International Airport is expected to enhance its logistical advantages and regional economic impact.

On June 16, 2026, Rangpur-6 Member of Parliament and Jamaat-e-Islami leader Md. Nurul Amin stated that no madrasa teachers had received their salaries for the month. He described the situation as deeply unfortunate, noting that some teachers were unable to meet urgent family needs due to the delay. The issue of delayed salary and allowance payments for madrasa teachers and staff has drawn attention in the national parliament.

The government has initiated steps to resolve the problem through the Madrasa Education Management and Information System (MEMIS) Support (2nd Revised, Proposed 3rd Amendment) project, which was approved by the Executive Committee of the National Economic Council (ECNEC) on June 9. The inclusion of electronic fund transfer (EFT) in the project is expected to streamline payments. The project, originally approved in 2017 at a cost of about Tk 10.12 crore, now stands at approximately Tk 38.07 crore.

Previously, only eight madrasa institutions under a pilot program used EFT for salary payments, while others relied on manual methods, causing delays. Authorities expect the new approval to resolve the issue soon.

The Bangladesh Air Force will conduct aerial seedball dispersal using helicopters as part of the Tree Plantation Program 2026. The initiative, announced by the Inter-Services Public Relations Directorate (ISPR) on Tuesday, aims to plant seeds across various regions of the country. The program follows the nationwide ‘25 Crore Trees in 5 Years’ campaign inaugurated by Prime Minister Tarique Rahman on June 13.

According to ISPR, the Air Force Chief, Air Chief Marshal Hasan Mahmud Khan, inaugurated the program by planting saplings at the Air Force Headquarters in Dhaka Cantonment. The Air Force will plant fruit-bearing, forest, and medicinal trees under this initiative. The aerial seedball dispersal will target coastal and remote hilly areas, including parts of the Chittagong Hill Tracts, to promote reforestation and environmental balance.

ISPR noted that similar aerial seedball operations had been carried out previously in remote coastal regions, demonstrating the Air Force’s continued commitment to national afforestation efforts.

Crude oil prices in the international market have fallen to their lowest level in three months. The decline followed a preliminary understanding between the United States and Iran and optimism over the reopening of the vital Hormuz Strait. On Tuesday, Brent crude dropped by 2.02 dollars or 2.4 percent to 81.15 dollars per barrel, briefly touching 80.89 dollars, the lowest since March 4. Meanwhile, US benchmark West Texas Intermediate (WTI) crude fell by 2.22 dollars or 2.8 percent to 78.53 dollars per barrel, reaching as low as 78.27 dollars, the lowest since March 10.

Market analysts attributed the price drop to expectations that shipping and oil supply through the Hormuz Strait would remain stable following the US-Iran understanding. This reduced global energy supply concerns and exerted downward pressure on prices. Earlier, oil prices had already fallen sharply after US President Donald Trump announced an interim agreement aimed at easing tensions involving the United States, Israel, and Iran.

The easing of geopolitical tensions and improved supply outlook may keep oil prices under pressure in the short term, according to the market trend described in the report.

Bangladeshi actor Mosharraf Karim reportedly faced an unpleasant situation in Kolkata while visiting with his wife, actress Robena Reza Jui. The incident gained attention on social media on Tuesday morning and was later covered by news outlets. Reports claimed that some individuals allegedly linked to the Awami League attempted to harass the actor outside his hotel on Sunday night, shouting abusive words before he quickly left the area.

However, Mosharraf Karim later told a media outlet that the situation was exaggerated online and that nothing significant had occurred. He urged people not to believe rumors spread on social media, saying the incident did not contain enough substance to be considered newsworthy. The general secretary of the Actors’ Association, Rashed Mamun Apu, said he had no information about the matter.

According to the report, Mosharraf Karim and his wife are currently in Kolkata for personal leisure, not for professional work, and are expected to return to Dhaka within a few days.

The traditional product ‘Manikganj’s Hazari molasses’ has officially received Geographical Indication (GI) certification from the Department of Patents, Designs and Trademarks under the Ministry of Industries. The recognition was granted on Monday, June 15, 2026, under the Geographical Indication of Goods (Registration and Protection) Act, 2013. According to the certificate, the product’s registration number is 64, and the registration date is May 20, 2024.

Hazari molasses, produced for generations across different parts of Manikganj, is widely known for its distinctive taste, quality, and cultural heritage. The GI recognition is expected to enhance the product’s reputation and open new market opportunities both nationally and internationally.

Local residents expressed joy over the certification, describing it as a matter of pride and fulfillment of a long-cherished dream. Stakeholders believe the recognition will help preserve the heritage of Hazari molasses, protect producers’ interests, and expand its market reach beyond Bangladesh.