Russia’s central bank has filed a lawsuit against Belgium-based financial clearing house Euroclear, seeking $230 billion in compensation for frozen sovereign assets. The case, accepted by a Moscow commercial court on December 12, follows the European Union’s plan to use part of the seized Russian reserves to fund loans for Ukraine’s military and civilian needs in 2026 and 2027. The Kremlin described the move as the beginning of a “legal nightmare” for Europe.

After Russia’s 2022 invasion of Ukraine, EU states froze roughly €210 billion of Russian central bank assets. EU leaders recently agreed to keep these assets frozen indefinitely, arguing that supporting Ukraine is essential to deter future Russian aggression. Moscow, however, calls the EU’s plan “theft” and warns it will erode global trust in the euro and European financial institutions. Legal experts suggest Russian courts may rule quickly in Moscow’s favor.

If successful, Russia could seek to seize Euroclear’s assets in friendly jurisdictions such as China, the UAE, and Kazakhstan. The dispute underscores deep divisions within Europe and raises concerns about the precedent of confiscating sovereign assets during wartime.

The Government of Bangladesh has approved the purchase of 50,000 metric tons of non-basmati parboiled rice from India for the 2025–26 fiscal year. The procurement, valued at BDT 2.147 billion (USD 17.55 million), was sanctioned at a meeting of the Cabinet Committee on Government Purchase chaired by Economic Adviser Dr. Salehuddin Ahmed. The rice will be sourced from India’s M/S Bagadia Brothers Pvt Ltd at USD 351.11 per ton, equivalent to BDT 42.98 per kilogram.

According to officials, the decision follows a proposal from the Ministry of Food aimed at strengthening national food reserves and ensuring stability in government distribution channels. The Economic Affairs Committee also approved the import of up to 900,000 tons of rice from international sources to meet emergency and public demand.

Analysts note that the move reflects the government’s precautionary approach amid concerns over domestic production and price volatility. The imports are expected to bolster food security and maintain supply continuity ahead of the next fiscal year.

A new joint survey by RTL Info, Ipsos, and Le Soir reveals that 67% of Belgians oppose the European Union’s proposal to use frozen Russian assets to finance loans for Ukraine. The poll, released Monday, shows strong public backing for Prime Minister Bart De Wever’s stance that Belgium should not consent to releasing the seized funds.

Analysts attribute this opposition to concerns over potential financial and institutional risks for Belgium, as a significant portion of the frozen assets are held in Brussels-based Euroclear, a key financial clearinghouse. Only 22% of respondents supported the EU plan, while 11% expressed no opinion. Russia’s central bank has denounced the proposal as illegal and vowed to defend its interests through all available means.

The EU recently decided to keep Russian assets frozen indefinitely. Leaders are expected to debate the allocation of these funds to Ukraine during a two-day Brussels summit starting Thursday, amid growing legal and political divisions among member states.

India’s Ministry of External Affairs has revealed that nearly 900,000 Indian citizens have renounced their citizenship over the past five years. Minister of State Kirti Vardhan Singh presented the data in a written reply to the Rajya Sabha on December 14, noting that the government maintains detailed annual records of such cases. The figures indicate that citizenship renunciations have risen steadily since the pandemic slowdown.

According to the ministry’s data, more than 2 million Indians have given up their citizenship in the past 14 years, with a notable surge in recent years. The trend reflects a growing inclination among Indians to acquire foreign citizenship, often for better economic or educational opportunities abroad. In 2020, the number dropped to 85,256 due to COVID-19 restrictions, but rebounded sharply in subsequent years, reaching over 200,000 annually.

Analysts suggest that the continued rise may reflect both global mobility trends and domestic economic factors. The government has not indicated any policy changes in response, but the data may prompt renewed debate on migration and talent retention.

At least 21 people have been killed and 32 injured after sudden flash floods struck Morocco’s Atlantic coastal province of Safi following an hour of intense rainfall. Authorities confirmed the casualties on Sunday, noting that most of the injured have since been discharged from hospitals. The downpour inundated more than 70 homes and shops in Safi’s old city, swept away vehicles, and damaged several roads, disrupting transport routes across the port area.

Local residents described the event as devastating, with one calling it “a black day.” The Moroccan weather service has forecast further heavy rainfall across the country through Tuesday, marking a dramatic shift after seven years of severe drought. Emergency teams continue rescue and recovery operations amid fears of additional flooding.

The incident highlights Morocco’s growing vulnerability to extreme weather events linked to climate variability. Authorities are expected to review urban drainage systems and disaster preparedness as rainfall patterns become increasingly unpredictable.

Bangladesh Bank’s latest report reveals a deepening crisis in the country’s banking sector, with 17 out of 61 banks now holding between 50% and 99% of their total loans as non-performing. As of September, the overall default loan ratio across the sector surged to 36%, up from 17% a year earlier, with total defaults reaching Tk 6.44 trillion. State-owned banks such as Janata, Rupali, and BASIC show default ratios above 50%, while several private banks—including Union, First Security Islami, and Global Islami—exceed 90%.

Banking officials attribute the surge to years of politically influenced lending and loan concealment under the previous government. Following a change in administration, previously hidden bad loans were reclassified, exposing the true scale of the problem. Analysts warn that the rapid deterioration threatens liquidity, investor confidence, and overall economic stability.

The government has begun merging several distressed banks to protect depositors and prevent systemic collapse. Economists urge urgent structural reforms, stronger regulatory oversight, and accountability measures to restore trust in Bangladesh’s financial system.

Bangladesh’s economy, under pressure from declining exports, weak private investment, and rising non-performing loans, is being sustained largely by record remittance inflows. According to Bangladesh Bank, expatriates sent $29.59 billion up to November 2024, an 18% increase from the previous year. Following the July 2024 political transition, remittance inflows surged by over 46%, helping foreign exchange reserves rise from $22 billion to nearly $32 billion.

Economists such as Dr. Zahid Hossain and Dr. Helal Uddin Ahmed note that remittances have stabilized the exchange rate and improved the balance of payments, offsetting weaknesses in exports and investment. Analysts attribute the surge to reduced money laundering, tighter monitoring, and a narrower gap between formal and informal dollar markets. Policy Exchange Bangladesh Chairman Masrur Riaz described the remittance boom as a “lifeline” for the economy.

Despite the relief, experts warn that gas shortages, export contraction, and slow investment continue to threaten recovery. They urge diversification of labor markets and skill development to sustain remittance growth and macroeconomic stability.

The Ministry of Foreign Affairs of Bangladesh has issued an urgent warning to citizens planning to travel abroad, cautioning them against fraudulent websites imitating the official MyGov platform. The ministry confirmed that cybercriminals are operating fake domains resembling government sites to issue counterfeit apostille certificates, undermining the credibility of legitimate digital authentication services.

According to the ICT Division’s Aspire to Innovate (a2i) program, the MyGov platform (https://www.mygov.bd) has processed around 1.7 million applications in the past 11 months, significantly improving transparency and efficiency in document verification. However, authorities recently identified multiple fake domains, including apostillemygovbd.news and apostille-mygovbd.com, used for scams. Police have already shut down two such fraudulent sites following ministry directives.

Officials warned that these scams could jeopardize the acceptance of Bangladeshi public documents abroad and disrupt lawful migration processes. Citizens are urged to use only the official MyGov website and avoid sharing personal data through suspicious links. Law enforcement efforts to identify and prosecute the fraudsters remain ongoing.

Australia’s government has approved South Korea’s Hanwha Group to raise its stake in local shipbuilder Austal to 19.9%, while imposing strict conditions to limit foreign influence over the country’s key defense assets. The decision follows multiple failed takeover attempts by Hanwha, which already owns 9.9% of Austal. Finance Minister Jim Chalmers said the move aligns with national security interests and ensures Hanwha remains a minority shareholder.

The approval has sparked debate within Australia’s defense community, with analysts warning that Hanwha’s growing presence could affect Austal’s operations and its U.S. business segment, which generates most of its revenue. Austal plays a central role in Australia’s naval modernization and holds major contracts with Japan’s Mitsubishi Heavy Industries, a direct competitor of Hanwha.

Experts say Canberra’s decision signals a cautious openness to foreign investment but underscores the government’s intent to retain domestic control over strategic defense assets. Austal’s management has pledged to evaluate any future proposals carefully, balancing shareholder interests with national security priorities.

Despite the government’s decision to allow onion imports from India to curb soaring prices, retail rates in Bangladesh have remained stubbornly high. Over the past week, imported onions have entered the country through several land ports, yet both local and imported varieties continue to sell at Tk 120–150 per kilogram in Dhaka’s retail markets.

According to the Department of Agricultural Extension, import permits (IPs) have been issued for 7,500 tons, though only about 3,000 tons have arrived so far. Officials attribute the delay to transport time from India’s Maharashtra region. Wholesalers report buying imported onions at Tk 95–98 per kg and selling to retailers at Tk 100–110, who then add further margins. Consumers express frustration that prices have not fallen despite imports, while traders cite limited supply and quality concerns.

Market analysts suggest that sustained import flows could ease prices by the end of the week. However, they warn that weak monitoring and profit-seeking by importers may continue to delay relief for consumers.

Bangladesh’s tea sector, long affected by sluggish sales and low profitability, has seen a dramatic turnaround in recent weeks as national election activities drive record demand. In the latest three auctions, nearly 90% of tea offered was sold at the highest prices in years, with average rates reaching BDT 265.06 per kilogram—up from BDT 218.15 in the same period last year. Major buyers, including Abul Khair, Ispahani, and Meghna, have been aggressively purchasing and stockpiling tea ahead of the upcoming parliamentary polls.

Industry insiders attribute the surge to a mix of election-related consumption, reduced production, and government adjustments to minimum auction prices. Tea production this year is estimated to be at least 10% lower than in 2023, when the country recorded its highest-ever output. Stakeholders say the short-term boom may help offset earlier losses but stress the need for long-term policy support to stabilize costs and sustain profitability.

Economists note that election seasons traditionally stimulate rural and urban economies, with tea being a symbolic and practical staple of campaign activities. The trend is expected to continue through the winter months as political competition intensifies.

Agricultural economists and policy experts in Bangladesh have called for the establishment of an Agricultural Price Commission to stabilize crop prices and safeguard farmers’ incomes. The proposed commission would be responsible for setting fair prices for key agricultural products, ensuring that farmers receive adequate returns while maintaining market stability. The call comes amid growing concerns about fluctuating commodity prices, rising production costs, and the impact of climate change on agricultural yields.

Analysts argue that a dedicated pricing body could help reduce middlemen’s influence and promote transparency in agricultural trade. They note that similar commissions in India and other countries have improved price predictability and rural livelihoods. Farmer associations have also voiced support, emphasizing that guaranteed minimum prices could prevent distress sales and encourage sustainable farming practices.

If implemented, the commission could play a pivotal role in shaping long-term agricultural policy, improving food security, and reducing rural poverty. The government is expected to review the proposal before the next fiscal policy cycle.

A mild cold wave has been sweeping across Panchagarh district in northern Bangladesh for three consecutive days, marking the season’s first significant temperature drop. On Saturday morning, the Tetulia Weather Office recorded a minimum temperature of 9.3°C, accompanied by occasional winds of 10–12 km/h. Despite sunshine during the day, the chill remains intense, particularly in the early morning and at night.

Local residents, especially low-income workers such as sand laborers and easy-bike drivers, are struggling to cope with the cold. Many report delays in starting work due to the biting morning chill. According to Jitendranath Roy, acting officer at the Tetulia weather station, temperatures fell to around 8°C the previous day, confirming a mild cold wave in the region. He added that while sunshine offers some relief, colder conditions are expected to persist through the rest of December.

Meteorologists warn that northern districts may face further temperature drops as winter deepens, potentially affecting daily livelihoods and agricultural activities.

Japan’s Meteorological Agency has issued a rare warning for a potential mega-earthquake, forecasting the possibility of a magnitude 8 or higher quake within the coming week. The alert follows a series of powerful tremors that recently struck northeastern Japan, including a 7.5-magnitude quake off the northern coast on Monday. Local authorities have strengthened emergency preparedness in coastal areas and urged residents to stay alert and follow safety instructions.

Experts warn that the ongoing seismic activity could significantly impact millions in northern Japan. The country, located along the Pacific ‘Ring of Fire,’ experiences frequent earthquakes, but this is the first time such a high-level alert has been issued. Disaster management agencies are advising people to maintain safe distances from coastal zones and prepare emergency supplies.

While no travel bans have been issued, several foreign governments have advised caution for travelers to Japan. The government remains on high alert, recalling the devastating 2011 quake and tsunami that killed over 18,000 people. Authorities emphasize that Japan’s early warning systems remain among the most advanced globally.

Dhaka’s metro rail operations were suspended on Friday, December 12, after employees launched a full-scale strike protesting the government’s failure to implement an independent employment regulation. Trains scheduled to depart from Uttara at 3:00 p.m. and from Motijheel at 3:20 p.m. did not operate, leaving hundreds of passengers stranded across multiple stations.

The strike was called by a section of regular officers and staff of Dhaka Mass Transit Company Limited (DMTCL), which oversees metro construction and operations. Despite DMTCL’s assurance on Thursday that services would run as usual, protesting workers refused to comply. DMTCL spokesperson Zahidul Islam stated that the authorities were working to address the employees’ demands, noting that procedural steps were underway but service disruption still occurred.

The sudden shutdown caused significant inconvenience for commuters and families planning weekend outings. Government officials are now reviewing the situation, though no timeline has been announced for service resumption.