Severe flooding has hit Haluaghat upazila in Mymensingh following heavy rainfall and flash floods from the Indian Garo Hills. Rising water levels in local rivers have inundated several unions, leaving thousands of residents trapped and causing extensive damage to homes and farmland. The situation worsened after continuous overnight rain caused the Menongchari River in India to overflow into Bangladesh’s Boraghat River, breaching embankments and flooding nearby villages.

At least six villages in Gazirvita Union are reported to be underwater, with crops such as boro paddy, peanuts, maize, and other seasonal produce submerged. Farmers fear severe losses if the water does not recede soon. Residents said the water rose rapidly overnight, forcing many to move belongings to higher ground as homes were flooded and daily life disrupted.

Flood pressure is reportedly highest in Kaliyani Kanda and Boalmara areas, where roads are submerged and communication severely hampered. Attempts to reach the Haluaghat Upazila Nirbahi Officer for comment were unsuccessful.

The Refugee and Migratory Movements Research Unit (RMMRU) has warned that around two million Bangladeshi expatriates in the United Arab Emirates could face serious livelihood risks if the ongoing war in the Middle East continues. The warning was issued at a press conference held at the National Press Club on Wednesday, where RMMRU presented a report titled “The Ongoing War Situation in Iran and the Gulf Region: Impacts and Actions for Bangladeshi Migrant Workers.”

According to the report, the conflict has already disrupted business activities across the Gulf region, causing uncertainty in the labor market. Declining investor confidence, rising costs, and infrastructure damage could halt projects and eliminate expected employment opportunities. The report also noted that disruptions in mobility have created a secondary crisis in the recruitment process, leading to disputes between agents and prospective workers over recruitment costs.

RMMRU highlighted the absence of a crisis response fund or real-time monitoring system to address job losses, forced returns, or stranded migrants. Dr. Tasneem Siddiqui, RMMRU’s founding chair, emphasized the need for new labor markets, skill development, language training, and modernization of the education system to adapt to long-term global labor market changes.

The government of Bangladesh has announced new prices for sacrificial animal hides ahead of the upcoming Eid-ul-Azha. Commerce Minister Khandaker Abdul Muktadir informed reporters at the Secretariat on Wednesday afternoon that the price of salted cowhide in Dhaka has been set between Tk 62 and Tk 67 per square foot. Outside Dhaka, the rate will range from Tk 57 to Tk 62 per square foot.

According to the minister, the price of salted goat hide has been fixed at Tk 25 to Tk 30 per square foot, while the price for she-goat hide has been set between Tk 22 and Tk 25. The announcement comes as part of the government’s annual price determination process for raw hides during the Eid-ul-Azha season, when large numbers of animals are sacrificed across the country.

The new rates are expected to guide traders and tanners in the upcoming hide collection and processing period during the festival.

The International Energy Agency (IEA) has forecast that global oil supply will decline by 3.9 million barrels per day throughout 2026 due to disruptions caused by the ongoing conflict in the Middle East. In its latest report, the agency said the stalemate in the region, particularly around the Strait of Hormuz, has led to a rapid depletion of global oil inventories.

According to the IEA, global oil demand is also expected to fall by 420,000 barrels per day this year. The agency noted that more than ten weeks after the start of the Middle East conflict, the continuing supply shortfall through the Hormuz Strait is driving inventories down at a record rate.

The report added that the ongoing deadlock and fast-declining reserves could signal a potential rise in oil prices in the near future.

The Executive Committee of the National Economic Council (ECNEC) on May 13, 2026, approved nine development projects with a total estimated cost of Tk 36,695.72 crore. Of this amount, Tk 36,490.93 crore will come from government funds and Tk 204.79 crore from the implementing agencies’ own resources. The meeting, held at the Bangladesh Secretariat, was chaired by Prime Minister and ECNEC Chairperson Tarique Rahman.

The approved projects include three new, five revised, and one extended project. Among them are initiatives under the ministries of culture, health, ICT, social welfare, defense, housing and public works, water resources, and power, energy and mineral resources. Notable projects include the Padma Barrage (Phase 1), Chattogram City Outer Ring Road (5th revision), and infrastructure for Hi-Tech City-2. Senior ministers and government officials attended the meeting.

The meeting was also informed about two additional projects costing less than Tk 50 crore that had already been approved by the planning minister, including infrastructure development at Mymensingh Zilla School and construction of an airmen barrack complex at Kurmitola Air Base.

Delegations from China and the United States have begun trade discussions in South Korea, according to Chinese state media reports released on Wednesday. The meeting is taking place near Seoul’s Incheon International Airport, just hours before U.S. President Donald Trump’s scheduled visit to Beijing. No further details about the discussions have been disclosed.

U.S. Treasury Secretary Scott Bessent had earlier confirmed plans to meet Chinese Vice Premier He Lifeng, both of whom have previously led multiple rounds of trade negotiations. The talks are believed to be final preparations for potential announcements expected during an upcoming summit between Trump and Chinese President Xi Jinping. Last year, Washington and Beijing imposed reciprocal tariffs exceeding 100 percent on each other’s goods, but in October they agreed in South Korea to suspend the trade war for one year.

Bessent stated that economic security is national security and announced he would travel to Beijing for the Trump-Xi summit, accompanied by more than a dozen business executives, including Nvidia CEO Jensen Huang and Tesla CEO Elon Musk.

The Padma Barrage Project has received final approval from the Executive Committee of the National Economic Council (ECNEC) at its meeting chaired by Prime Minister and ECNEC Chair Tareq Rahman on Wednesday at the Secretariat. The first phase of the project, proposed by the Ministry of Water Resources, will be implemented by the Bangladesh Water Development Board between this year and June 2033 at a cost of Tk 344.97 billion, fully funded by the government. The total estimated cost of the entire project is Tk 504.43 billion.

According to planning commission sources, the project aims to mitigate dry-season water shortages caused by the Farakka Barrage by storing about 2,900 million cubic meters of water in the Padma River. The stored water will help revive five rivers—Hisna-Mathabhanga, Gorai-Madhumati, Chandana-Barasia, Baral, and Ichamati—by supplying around 800 cubic meters per second during the dry season. The first phase includes constructing a 2.1-kilometer barrage at Pangsha in Rajbari with 78 spillways, 18 under-sluice gates, two fish passes, and a navigation lock.

The project is expected to enhance agriculture and fisheries production and benefit 19 districts across four divisions in its initial phase, with further expansion planned in later stages.

Indian Prime Minister Narendra Modi has ordered a 50 percent reduction in the number of vehicles in his official motorcade. The decision, announced amid a global energy crisis, aims to cut fuel consumption and promote the use of electric vehicles. The Special Protection Group responsible for Modi’s security has already begun implementing the directive.

The move comes as several Bharatiya Janata Party–ruled states follow suit. Chief Ministers Rekha Gupta of Delhi, Bhajan Lal Sharma of Rajasthan, and Mohan Yadav of Madhya Pradesh have also decided to reduce the size of their official fleets. The global energy shortage has been exacerbated by the ongoing United States–Iran war, which has driven up crude oil prices and disrupted supply chains.

Modi urged citizens to adopt a “nationally responsible” lifestyle, use local products, and avoid unnecessary gold purchases for one year to ease pressure on foreign currency reserves. He also advised against foreign travel and destination weddings abroad.

Scientists have warned that a 'super El Niño' could develop in 2026, intensifying global heat and wildfire risks. According to data compiled by World Weather Attribution, from January to April this year, more than 150 million hectares of land have already burned worldwide, 20 percent higher than previous records. The phenomenon, which warms the surface waters of the central and eastern Pacific Ocean, is expected to disrupt global weather patterns as the Northern Hemisphere enters summer.

Imperial College London wildfire expert Theodore Kipping said the wildfire season has started unusually early, with Africa losing about 85 million hectares and Asia around 44 million hectares to fires so far. He warned that the risk of wildfires could increase later this year as El Niño heightens the likelihood of heatwaves and droughts in Australia, Canada, the United States, and the Amazon rainforest.

The World Meteorological Organization stated last month that El Niño conditions are expected to begin in May, potentially bringing drought to parts of Australia, Indonesia, and South Asia, while causing floods and rising temperatures elsewhere.

The European Union is preparing to present a plan this summer to ban social media use for minors, according to European Commission President Ursula von der Leyen. She announced the initiative on Tuesday, citing growing pressure from several member states to strengthen child protection online. The proposal aims to address concerns about the impact of addictive online platforms on children.

Support for stricter regulation has increased in recent months, with France, Spain, Greece, and Denmark leading calls for stronger measures. Von der Leyen made the remarks at the European Summit on Artificial Intelligence and Children in Copenhagen, where she highlighted the rapid pace of technological advancement and its deep influence on childhood and adolescence.

Several EU countries are already moving toward national legislation on this issue. The European Commission has also formed an independent expert panel on online child safety to assess potential measures to combat addiction and social anxiety among minors. Similar restrictions have already been implemented in Australia and Indonesia.

The Ministry of Agriculture in Bangladesh is expanding the farmer card distribution program from 15 to 19 upazilas, with pilot implementation expected to begin in June 2026. A 13-member core committee met at the ministry to discuss potential challenges and future steps. The initiative, one of the government’s 31 election pledges, aims to provide cards to landless, marginal, and small farmers.

The program’s oversight is under discussion within the government. A prime minister’s adviser is working to bring the World Bank under the program’s supervision to ease financial pressure, while the agriculture minister prefers domestic management for equitable distribution. Pre-pilot phases revealed several issues, including land ownership complications and mismatches in beneficiary data during fund transfers.

The farmer card is designed to offer 10 types of benefits, including cash incentives, subsidized inputs, irrigation support, and easy loans. The government plans to distribute cards to 16.5 million farmers over four years at an estimated cost of 6.81 billion taka.

Share trading of four listed non-bank financial institutions will continue on the Dhaka Stock Exchange (DSE) for now, according to DSE sources. The exchange confirmed that trading will proceed as usual on Wednesday, pending written instructions from Bangladesh Bank regarding the liquidation decision. DSE’s chief operating officer Shafiqul Islam said the exchange has sought clarification from the central bank and will act upon official communication once received.

On Tuesday, Bangladesh Bank’s board approved the closure or liquidation of five non-bank financial institutions—FAS Finance, Fareast Finance, Aviva Finance, Peoples Leasing, and International Leasing—starting in July. Among them, four are listed on the capital market. The decision followed extremely high default loan rates, ranging from 93 to nearly 100 percent, and the institutions’ failure to return depositors’ funds. The central bank plans to appoint administrators and allocate about Tk 5,000 crore in the next budget to repay individual depositors.

The liquidation will proceed under the Bank Resolution Act, which outlines procedures for restructuring or closing distressed institutions and settling creditor claims through asset sales.

Reconditioned car imports through Bangladesh’s Chattogram Port have fallen by 55 percent in March and April 2026 compared to the same period last year. The decline began after a joint U.S.-Israel attack on Iran in late February, which disrupted global markets and raised fuel prices. In 2025, the port handled an average of 1,200 cars per month, but this year’s March and April saw only 497 and 744 units respectively. The port’s car sheds, which usually remain full, are now largely empty.

Industry figures attribute the slump to multiple factors including the Middle East conflict, rising fuel costs, and a slowdown in domestic economic activity. Former BARVIDA secretary Habibur Rahman said reduced consumer purchasing power and stalled business conditions have sharply cut vehicle sales and imports. Government and corporate car purchases have also declined due to halted loan facilities and project suspensions.

Customs officials reported that revenue from reconditioned car imports dropped from about Tk 800 crore in the first four months of 2025 to Tk 545 crore in the same period this year, reflecting the broader economic strain on the sector.

Grocery prices in the United States rose at the fastest monthly rate in four years, driven by inflation linked to the ongoing war involving Iran. According to the US Bureau of Labor Statistics, grocery prices increased by 0.7 percent in April, marking the sharpest monthly rise since 2022. Media reports noted that the surge confirms earlier warnings that the conflict with Iran is pushing up food costs for American consumers.

On an annual basis, fresh vegetable prices climbed by more than 44 percent compared to three months earlier, while staple items such as bread and milk rose by 8 percent and 6 percent respectively. Coffee and beef prices also showed sudden fluctuations, influenced by both the Iran war and other global factors. Rising transportation costs and strong demand have further contributed to the price increases.

The data suggest that US households are facing growing pressure from food inflation, with essential goods becoming increasingly expensive across multiple categories.

Bangladesh Bank has launched a comprehensive review of all bank loans exceeding Tk 20 crore disbursed since July 2025. The initiative, directed by Governor Mostakur Rahman, aims to verify whether these large loans are reaching genuine new entrepreneurs or being diverted to previously controversial or fraudulent entities. The central bank’s relevant department has already begun the scrutiny process, with a report to be submitted to the governor upon completion.

According to Bangladesh Bank data, total bank loans stood at Tk 17.77 trillion at the end of December, of which Tk 8.22 trillion involved loans above Tk 20 crore. The review follows earlier discussions under former governor Ahsan H. Mansur, who could not implement the plan before his contract was terminated. The move comes amid intensified efforts to trace and recover funds allegedly siphoned abroad by six major business groups during the former Awami League government.

Several affected banks have signed non-disclosure agreements with multinational firms to identify and recover overseas assets. The review is part of broader financial accountability measures initiated after the fall of the Awami League government in August 2024.