Experts have warned that the Iran war’s impact on global oil markets could inflict lasting harm on the US economy. The International Energy Agency (IEA) described the situation as one of the worst oil supply crises in history, triggering what economists call “demand destruction,” where soaring prices force consumers to permanently change spending habits. Rising fuel costs are already draining Americans’ savings and tax refunds, hitting low-income households hardest.

RSM US chief economist Joe Brusuelas said the US economy faces a chain reaction: higher energy prices act like an extra tax on families and businesses, eroding confidence, halting major purchases, reducing profits, and prompting layoffs. The Federal Reserve may raise interest rates, worsening the downturn. With the Strait of Hormuz closed, fertilizer and industrial raw material supplies are also disrupted, raising fears of further food price increases in coming months. Michigan State University’s David Ortega noted that food price shocks may take six months or more to fully appear.

Oxford Economics’ Nancy Vanden Houten said a ceasefire and partial oil price stabilization may have prevented a total collapse, though conditions remain volatile.

Supreme Court senior lawyer and Jamaat-e-Islami central working committee member Mohammad Shishir Monir has criticized the construction of unplanned embankments in the haor areas of Sunamganj. Speaking live on Facebook from Chhaya Haor in Shalla on Friday morning, he said hundreds of crores of taka are spent every year on embankments that lack proper water drainage systems. He emphasized that canals and wetlands are not being excavated and called for immediate dredging of haor canals, rivers, and wetlands to ensure water flow.

Monir stated that heavy rainfall has submerged boro paddy fields in Sunamganj, causing the crops to rot and resulting in widespread distress among farmers. He described the situation as a humanitarian disaster, with people struggling to find food for themselves and their cattle. He urged the government to declare Sunamganj an environmentally affected area and to stand beside the farmers.

He also mentioned that the government has announced three months of financial assistance but questioned how many people would actually receive the support.

The Fire Service and Civil Defence of Bangladesh has launched an e-Fire License system aimed at simplifying public service access. The initiative was inaugurated on Thursday at the EOC building in Mirpur-10 by Director General Brigadier General Muhammad Zahed Kamal. From May 1, all activities related to new fire license issuance, renewal, and reassessment will be conducted online, ending the manual process. Applicants can now complete all steps—from application to license receipt—digitally from home.

During the inauguration, officials emphasized that the manual method of issuing fire licenses has officially ended. The event was attended by senior officials including the Director (Operations and Maintenance) Lieutenant Colonel Md. Mahmudul Hasan, who led the e-Fire License implementation team. Participants joining online, including directors and deputy directors from various divisions, praised the initiative.

Representatives from Perky Rabbit Corporation Limited, the implementing partner, were also present. The Fire Service requested cooperation from all concerned to ensure smooth implementation of the new online system.

A breach in the embankment of the 20th PIC under the Kailani sub-project in Madhyanagar upazila of Sunamganj has been brought under control through joint efforts. The embankment began to overflow on Thursday night, leading to gradual erosion. In response, local administration, Water Development Board officials, political leaders, and farmers rushed to the site early Friday morning and began repair work using geo-bags, bamboo, and other materials. As of Friday afternoon, repair operations were still ongoing.

PIC president Md. Lal Mia said continuous rainfall caused soil erosion, lowering the embankment, and he stayed on-site overnight to oversee protection efforts. Upazila BNP joint convener Abul Bashar stated that the embankment was now somewhat stabilized due to collective action. According to agricultural sub-assistant officer Kabir Hossain, around 300 hectares of land in Shaldigha Haor were affected, with 30 hectares submerged before harvest and 160 hectares of paddy already reaped.

Acting Upazila Executive Officer Sanjay Ghosh said authorities responded immediately after receiving reports of water intrusion and expressed hope that the embankment would soon be fully stabilized.

Singapore’s Prime Minister Lawrence Wong has warned that the country faces a potential economic collapse due to the prolonged closure of the Hormuz Strait caused by the ongoing Iran war. Speaking on May 1 during a May Day address, he said the conflict shows no sign of ending soon and that supply chains could face further disruption in the coming months.

Wong noted that Asian economies are heavily dependent on energy and essential goods from the Gulf region, making them particularly vulnerable to the crisis. He cautioned that global inflation will rise, pushing up prices of fuel, food, and other necessities, while many countries could slip into recession. Singapore, he said, will directly feel the impact as growth slows and inflation pressures businesses, workers, and families.

The prime minister added that even if the Hormuz Strait reopens soon, recovery will take time due to damaged ports and energy infrastructure and the need to clear naval mines. He described the Middle East conflict as casting a dark shadow over the global economy.

Global trade patterns have shifted sharply after the closure of the strategic Hormuz Strait due to the ongoing Iran war. According to an AFP report, ships can no longer reach Gulf destinations such as Bahrain, Kuwait, and Sharjah directly, forcing shipowners and importers to rely on alternative land routes. The Red Sea port of Jeddah in Saudi Arabia has emerged as a new commercial hub, with major shipping companies including MSC, CMA CGM, Maersk, and COSCO unloading cargo there before trucking goods across desert highways to Gulf states.

The surge in freight traffic has caused severe congestion at Jeddah port, which was not designed to handle such large volumes of imports. Shipping firms are also planning to use ports outside the Hormuz Strait, including Sohar in Oman and Khor Fakkan and Fujairah in the UAE. Additionally, Jordan’s Aqaba port is being used as a base for shipments to Baghdad and Basra, while a Turkish corridor is facilitating transport to northern Iraq.

These rerouted logistics networks indicate a major regional adjustment in maritime and land trade flows across the Middle East.

In Sunamganj, two days of sunshine followed five days of heavy rain and flash floods, offering brief relief to farmers drying their soaked paddy. However, much of the crop has already rotted, leaving the haor region unusually quiet and lifeless this harvest season. Farmers are seen cutting paddy in knee- to chest-deep water, with many reporting severe losses and exhaustion.

Local farmers described extensive damage, with large portions of their fields submerged and much of the harvested paddy spoiled before drying. Some hope for government financial assistance to recover. According to the Department of Agricultural Extension, 2047 hectares of land across 137 haors have been affected out of 223,511 hectares of Boro cultivation, with an estimated production target of 1.4 million metric tons worth about Tk 5,000 crore. Officials are coordinating with mill owners to use dryers for wet paddy.

The Water Development Board reported a slight drop in water levels but warned that further rainfall could strain embankments. The district administration extended a ban on sand extraction until May 5 to address labor shortages in the haor areas.

A discussion meeting was held in Moulvibazar to ensure the proper implementation of the 2026 Boro paddy and rice procurement program. The meeting, organized by the District Food Department, took place on Thursday afternoon at the conference room of the Deputy Commissioner, who also presided over the session. Officials discussed various aspects of the procurement activities planned for the Boro season.

During the meeting, it was informed that the targets for collecting parboiled and non-parboiled rice have not yet been set. Paddy will be purchased directly from farmers through an app, and selected farmers must complete online registration. Rice will be procured from millers through contracts. To ensure fair prices for farmers, the price per kilogram of paddy has been fixed at 36 taka.

The procurement drive will run from May 30 to August 31. Participants were instructed to maintain transparency and accountability throughout the process. Representatives from the agriculture and food departments, mill owners’ association, and related committees attended and emphasized coordination in implementation.

The United States has remained in a state of 'permanent war' for the past 25 years, leading to soaring defense expenditures. Dan Grazier, a senior fellow at the Washington-based Stimson Center, told Al Jazeera that many American companies and national security officials have become accustomed to high defense budgets, making it difficult to reverse the trend.

Grazier explained that maintaining elevated defense spending often depends on engaging in new conflicts. He cited the ongoing Iran war, noting that the missiles and bombs currently being used will need to be replaced, creating lucrative opportunities for major weapons producers such as Lockheed Martin and RTX. This cycle of sustained military spending has become a significant source of income for the U.S. arms industry.

According to the report, the entrenched pattern of high defense budgets continues to benefit American defense contractors, reinforcing the economic incentives tied to prolonged military engagements.

In Madarganj upazila of Jamalpur, continuous rain and strong winds have caused extensive damage to boro paddy, jute, maize, and other crops. Fields are submerged, and half-ripe paddy is rotting as farmers face both yield losses and difficulties in harvesting. According to the local agriculture office, 560 hectares of boro paddy, 350 hectares of jute, 120 hectares of maize, 50 hectares of vegetables, and several banana fields have been affected, with some areas completely destroyed.

Farmers in several low-lying areas, including Tartapara, Jorkhali, and Gabergram Jhalupara, are struggling to harvest crops in knee- to waist-deep water. Many are cutting half-ripe paddy to prevent further losses, while others are tying fallen stalks to keep them upright. Local farmers described severe waterlogging and crop damage, saying they were forced to harvest early to avoid total loss.

Upazila Agriculture Officer Habibur Rahman said officials are assessing the damage and advising farmers to drain water quickly, harvest fallen paddy, and tie up unripe plants to reduce further losses.

The Directorate of Films and Publications (DFP) under the Ministry of Information and Broadcasting has announced a government initiative to produce two short films highlighting Bangladesh’s history, heritage, and culture. According to a public notice issued by the DFP, experienced consultancy firms are invited to submit applications and scripts for the projects by May 9, 2026, at noon.

One of the films will be based on the folk tale 'Gazi Kalu and Champabati' and will run 25 to 30 minutes with English subtitles. The government has allocated Tk 2 million for its production. The second film will focus on a story promoting Islamic culture, tolerance, and unity, with a duration of 12 to 15 minutes and a budget of Tk 1 million. Selected firms will be responsible for all stages of production, including scripting, casting, shooting, editing, dubbing, and color grading.

The DFP emphasized that the films must combine modern technical standards with creativity, and participating firms must have at least five years of professional experience.

State-owned Bangladesh Petroleum Exploration and Production Company (BAPEX) has launched gas exploration up to six kilometers beneath the surface, marking the deepest drilling effort in the country’s history. Preparations are complete for exploration wells at Titas in Brahmanbaria, Bakhrabad and Srikail in Cumilla, and Mobarakpur in Pabna’s Santhia upazila. Petrobangla sources confirmed that one well has already begun operations, breaking the previous depth record of four kilometers.

Officials said the initiative follows 3D surveys indicating potential gas reserves below hard rock layers, with estimates suggesting around 2.5 trillion cubic feet of gas across the targeted fields. Petrobangla plans deep drilling at four wells—two under Bangladesh Gas Fields Company Limited and two under BAPEX. The move comes after years of limited exploration activity, during which Bangladesh’s energy sector became increasingly import-dependent.

Petrobangla Chairman Md. Erfanul Haque described the six-kilometer drilling as a bold step to address the national gas shortage. He said 150 wells are planned under short-, medium-, and long-term programs, with expectations of adding about three trillion cubic feet of gas reserves upon completion.

A mobile court in Sirajganj’s Raiganj and Ullapara upazilas fined five illegal brick kilns a total of Tk 1.1 million for environmental violations. The joint operation, conducted by the district administration and the Department of Environment from 11 a.m. to 7 p.m. on Thursday, also demolished the kiln of one brickfield for causing severe environmental damage. The drive was led by Assistant Commissioner (Land) and Executive Magistrate Ruhul Amin.

According to officials, the action followed reports that toxic emissions from Messrs Tanzila Bricks in Bilchandi area had damaged nearby farmland. On April 30, around 80 bighas of Boro paddy were reportedly destroyed, prompting farmers to protest and demand compensation. After the issue gained attention through media coverage, authorities launched the mobile court operation.

The fined brick kilns were Messrs Sufia Bricks (Tk 200,000), Messrs Ruhi Bricks (Tk 200,000), Messrs Raninagar Bricks (Tk 100,000), Messrs Asha Bricks (Tk 500,000), and Messrs Tanzila Bricks (Tk 100,000). Officials stated that similar drives against illegal and environmentally harmful brick kilns will continue in the future.

Widespread load-shedding and fuel shortages have severely disrupted garment production in Savar and Ashulia, two major industrial areas near Dhaka. Factory officials reported that production has dropped by 15–20 percent, with some plants operating generators to maintain limited output. Abul Kashem, Deputy Managing Director of AKH Group, said daily production has fallen by about 10 percent due to fuel scarcity and rising costs, while transport delays are causing missed shipment deadlines and reduced foreign orders.

At Al Muslim Group and JK Group factories, managers said fuel shortages and higher prices have forced them to cut production from over 100,000 pieces a day to 80,000–90,000. Transport disruptions have led some owners to ship goods by air at their own expense, increasing costs. Jahangir Hossain of Stitches Limited warned that if the situation continues, operating garment factories will become unsustainable.

Dhaka Palli Bidyut Samiti-1’s Senior General Manager Akhtar Uzzaman Laskar said electricity supply shortages stem from lower-than-demand generation, but the government has taken measures to boost output soon.

The United States Air Force has entered into an agreement to purchase interceptor drones from Powerus, a Florida-based company supported by Donald Trump’s sons, Eric Trump and Donald Trump Jr. The company’s founder, Brett Velicovich, confirmed the deal, citing a Bloomberg report. The exact number of drones being purchased has not been disclosed.

In a post on social media platform X, Velicovich said the deal is about maintaining US drone dominance amid growing threats from inexpensive drones that challenge costly defense systems. He emphasized that modern warfare has changed, with the economics of conflict shifting dramatically, and claimed that Powerus’s technology aims to restore balance and protect American lives.

The report, sourced from Al Jazeera, highlights the growing role of drone technology in US defense strategy but does not specify financial details or delivery timelines.