The International Monetary Fund (IMF) has reduced Israel’s projected economic growth for 2026 to 3.5 percent, down from its earlier forecast of 4.8 percent. The revision, published on Wednesday, attributes the downgrade to ongoing tensions and geopolitical uncertainty across the Middle East. The IMF report highlights that wars in Gaza, Lebanon, and Iran are exerting negative pressure on Israel’s economy, though it has shown resilience so far.

According to the IMF, persistent regional instability and long-standing structural issues are expected to weigh on Israel’s growth in the near term. The report warns that renewed escalation of regional tensions could pose significant risks to the economy. It also notes that rising energy prices and supply constraints may push inflation higher, even as the Israeli shekel has reached its strongest level against the U.S. dollar in over three decades.

The IMF projects that Israel’s growth could rebound to 4.4 percent in 2027, with inflation stabilizing around 2 percent in both 2026 and 2027. The forecast is based on data available up to June 10.

At least 59 people have died in floods across Ivory Coast since the beginning of this year, according to a government spokesperson on Wednesday. The announcement came after a cabinet meeting in the capital, Abidjan, where spokesperson Amadou Coulibaly described the situation as deeply concerning. He did not specify how many deaths occurred in the most recent flooding.

Earlier this week, continuous heavy rainfall caused severe flooding and landslides in both Ghana and Ivory Coast, killing at least 24 people and leaving many missing. In Ghana’s capital Accra and the nearby city of Tema, roads and buildings were submerged, cutting off transport links. In Ivory Coast, Minister of National Solidarity Myss Belmonde Dogo said most of the deaths occurred in Abidjan’s Attecoube and Yopougon districts. Coulibaly urged citizens to follow safety guidelines and avoid high-risk areas identified by the government.

The World Meteorological Organization noted that Africa remains one of the world’s most vulnerable regions to extreme weather events, which are increasing due to climate change, despite the continent’s minimal contribution to global greenhouse gas emissions.

Turkey’s defense and aerospace exports rose sharply between June 1, 2025, and May 31, 2026, reaching 10.9 billion dollars, a 47.1 percent increase compared to the previous year’s 7.4 billion dollars. The growth was driven largely by higher demand from NATO member countries, where exports totaled 6.2 billion dollars, accounting for 57.3 percent of Turkey’s total defense and aerospace exports.

During this period, Turkey exported defense and aerospace products to 178 countries. The top three destinations were NATO allies, reflecting Turkey’s expanding defense industry cooperation within the alliance. The increase was attributed to international outreach, bilateral meetings, and defense industry diplomacy coordinated by Turkey’s Defense Industry Secretariat.

Turkey has strengthened its position not only as a supplier of defense products but also as a developer of technology, a promoter of joint production models, and a long-term partner to its allies, according to the report.

Bangladesh Bank has directed 37 banks not to classify City Group as a loan defaulter until September 30, 2026, following requests from the company and the Association of Bankers Bangladesh (ABB). The decision aims to provide temporary relief to one of the country’s largest industrial conglomerates, which owes over Tk 24,000 crore to 47 domestic and foreign banks and financial institutions. City Group cited severe financial pressure caused by global and domestic crises, currency depreciation, and rising interest rates as reasons for seeking policy support.

In its appeal, City Group stated that it has never defaulted in its 50-year history but is now struggling due to increased production costs, foreign exchange losses, and delayed gas connections at its Hosendi Economic Zone factories. The group requested seven forms of policy assistance, including loan reclassification suspension, extended working capital, and relaxed single borrower limits. ABB supported the request, warning that disruption to City Group’s operations could affect national food supply.

Senior bankers and Bangladesh Bank officials noted that the relief is temporary and that sustainable recovery will depend on restoring production and restructuring loans. A committee of lending banks is currently working on a recovery plan.

Russia has started importing petrol from India by sea to ease a worsening fuel shortage triggered by ongoing Ukrainian attacks on its energy infrastructure. Two industry sources confirmed the move on Wednesday, noting that at least 60,000 metric tons of petrol have already been shipped in two tankers carrying 30,000 to 40,000 tons each. Fuel rationing, long queues, and record-high prices have been reported across Russia’s 11 time zones.

The Kremlin said on Tuesday that Russia is in talks with several countries to secure fuel imports at acceptable prices, though neither the Russian Energy Ministry nor India’s Oil Ministry commented. A third source indicated Russia plans to import about 400,000 tons of petrol monthly from multiple countries, including Belarus, which has already increased its rail shipments. President Vladimir Putin acknowledged that Ukrainian drone strikes on refineries have caused regional shortages but insisted the situation is under control.

Russia’s parliament recently approved tax amendments to subsidize fuel imports in line with Indian supply costs. Meanwhile, data from LSEG and Kpler showed India’s crude oil imports from Russia hit record highs in June.

Iran’s Deputy Foreign Minister Kazem Gharibabadi said the country will use its frozen funds held in Qatar to purchase essential goods. The move follows an agreement between Iran and the United States aimed at halting hostilities, under which Washington has agreed to allow Tehran access to its previously seized or restricted assets. This step is described as part of the broader implementation of that understanding.

In an interview with Iran’s state news agency IRNA, Gharibabadi explained that discussions were held with Qatari officials, including the central bank, on how to spend an initial portion of six billion dollars. He stated that the funds will be used to buy goods according to Iran’s domestic needs, which will then be delivered to the country.

However, the exact mechanism and timeline for releasing and utilizing the funds remain unclear, as no details have been provided on when the process will take effect.

Valuable trees from the social forest of Lohani Para Union in Badarganj, Rangpur, are reportedly being felled and smuggled nightly to sawmills in Badarganj and Mithapukur. Local sources allege that timber traders are purchasing the trees through dishonest forest officials, while seized wood worth millions of taka has been sold illegally.

Forest Beat Officer Mojibur Rahman has been accused of colluding with forest protection committee leaders to sell confiscated timber and of facilitating the disappearance of seized logs. Committee members claimed that despite their requests, officials ignored illegal tree cutting incidents. Senior forest officials redirected inquiries to other offices, while Mojibur Rahman cited manpower shortages as a reason for failing to prevent thefts.

Badarganj Upazila Executive Officer Anjuman Sultana stated that action would be taken if evidence of involvement in such activities is found.

Thousands of residents across ten villages in Phulpur upazila of Mymensingh are facing severe hardship due to the collapse of a bamboo bridge over the Kharia River in Payari Union. The bridge, built with local funds between Garpayari and Guptargaon villages, has long served as the only crossing point. With part of the structure now broken, small vehicles can no longer pass, worsening daily struggles for the community.

According to local sources, villagers had replaced an old ferry service with the bamboo bridge about 15 years ago, using bamboo poles and split trunks of chaul trees. The fragile structure frequently collapses, forcing residents to repair it several times a year at their own expense. Guptargaon, a major producer of vegetables and other crops, suffers most as farmers must travel an extra five kilometers to reach markets.

Upazila engineer Jahangir Alam stated that a proposal has been submitted to build a 95-meter permanent bridge over the Kharia River and improve the connecting road. He dismissed claims that previously allocated funds were diverted elsewhere.

A community-based safe water supply project under the Department of Public Health Engineering in Madhupur, Tangail, remains incomplete after four years, amid allegations of corruption and irregularities. The project, launched in the 2021–22 fiscal year to install submersible pumps, deep tube wells, and pipelines across nine unions and one municipality, received an allocation of about 14.8 million taka. Despite this, contractors were paid 60 percent of the bill before completing the work and have since gone missing.

Field visits revealed that only partial work was done, with many deep tube wells lying unused and several pumps and tanks either broken or never installed. In some areas, water connections were diverted to mosques and shrines instead of households. Locals reported paying money and submitting documents years ago but still lack access to clean water. Officials admitted that political influence and contractor negligence hindered progress, though letters were sent urging completion.

The project’s stagnation has left residents frustrated and raised concerns about the misuse of nearly 15 million taka in public funds.

Bangladesh is prioritizing Malaysia’s experience to expand its halal industry and tap into the global halal market. During Prime Minister Tarique Rahman’s recent visit to Malaysia, and earlier by interim government adviser Muhammad Yunus, bilateral cooperation on halal industry development was a key topic. Experts estimate the global halal market at around 3 trillion dollars, but Bangladesh faces major challenges due to the absence of international-standard laboratories and unified certification.

Malaysia is considered a global model in halal certification, having built a transparent and internationally recognized system since the 1970s. Its halal market is projected to reach 113 billion dollars by 2030, with food and beverages accounting for 85 billion. Malaysia’s JAKIM agency oversees certification, while the Halal Development Council works to strengthen the sector.

Bangladesh currently exports about 850 million dollars in halal products, mostly agricultural goods. Officials and business groups believe that improving certification and laboratory capacity, and establishing a dedicated halal economic zone, could enable Bangladesh to expand exports significantly. The Bangladesh Investment Development Authority has begun working with Malaysia’s HDC to address these issues.

Global oil prices fell to their lowest level in four months as positive comments from US leaders about relations with Iran eased market concerns. According to Reuters, the international benchmark Brent crude dropped by $1.38, or 1.89 percent, to $71.57 per barrel, while US West Texas Intermediate (WTI) crude declined by $0.92, or 1.32 percent, to $68.58 per barrel. Both benchmarks closed at their lowest levels since March.

Market analysts attributed the decline to recent remarks by US President Donald Trump and Vice President JD Vance, who described ongoing discussions between Washington and Tehran as progressing well. Their statements signaled a reduction in geopolitical tensions between the two countries, which directly influenced global oil trading.

The easing of supply concerns among investors following these diplomatic signals led to a rapid downward shift in oil prices, reflecting renewed optimism about stability in the global energy market.

Bangladesh Bank has given three months to four non-bank financial institutions to recover from their financial distress. The institutions—Prime Finance and Investment Limited, GSP Finance Company (Bangladesh) Limited, Bangladesh Industrial Finance Company Limited, and Premier Leasing and Finance Limited—must raise new capital, ensure liquidity, and make visible progress in repaying depositors within this period. Failure to meet these conditions will trigger resolution or liquidation proceedings under the Bank Resolution Act, 2026.

According to a central bank press release, the decision was made under Section 15 of the Bank Resolution Act, 2026, based on the board’s commitment to take corrective measures. The institutions are required to sell assets, recover overdue loans, and restructure classified loans to reduce default rates. Bangladesh Bank emphasized that depositors’ interests must be prioritized throughout the restructuring process.

The central bank has also approved a coordinated action plan for nine distressed financial institutions, dividing them into two groups. The most troubled five will enter the resolution process, and a special fund will be created to repay depositors after mandatory forensic audits identify irregularities and responsible individuals.

Prime Minister Tarique Rahman has expressed optimism that construction of the third terminal at Hazrat Shahjalal International Airport will be completed within the scheduled time, aiming for inauguration by mid-December this year. He made the remarks during a meeting at the Prime Minister’s Office in Dhaka with a Japanese delegation led by Japan’s Parliamentary Vice Minister for Foreign Affairs Shimada Tomaki, which included the President of the Japan International Cooperation Agency (JICA).

The meeting discussed progress on several JICA-funded development projects in Bangladesh, including the Matarbari deep seaport, MRT lines, and the airport’s third terminal. Japan responded positively to increasing its energy assistance to Bangladesh from 312 million to 500 million US dollars. Both sides reaffirmed their commitment to advancing the Bangladesh–Japan Economic Partnership Agreement (EPA).

During the talks, Japan also informed that it would provide five patrol boats to the Bangladesh Navy. The two sides discussed the Rohingya crisis, with the Prime Minister seeking Japan’s continued support for safe and sustainable repatriation. The Japanese delegation invited the Prime Minister to visit Japan, and he expressed hope to do so at a convenient time.

The United States and Iran have reached a preliminary understanding on the release of $3 billion during indirect talks held in Doha, Qatar, according to a report by Saudi-based outlet Al Arabiya citing sources on Wednesday. The discussions were mediated by Qatar and Pakistan, with each side communicating through their respective intermediaries. The Iranian delegation, comprising officials from the foreign ministry, central bank, and agriculture ministry, also attended a tripartite meeting with Qatar’s prime minister.

Sources indicated that Iran conditioned the phased release of the funds on progress achieved in the negotiations. The talks also addressed the situation in the Strait of Hormuz, based on a new proposal from Oman. Iranian Deputy Foreign Minister Kazem Gharibabadi said the main goal of the Doha meeting was to review progress in implementing an interim Tehran-Washington agreement.

A senior Iranian official told Reuters that the discussions, which began Tuesday night, focused primarily on the release of Iran’s frozen assets and regional maritime security. A diplomatic source told AFP that the Doha talks were proceeding under a memorandum of understanding and followed up on progress made at the Lake Lucerne conference in Switzerland.

Information and Broadcasting Minister Zahir Uddin Swapan stated that in the modern world, security is no longer confined to border defense or traditional systems. Speaking on July 1, 2026, at the launch of the Bangladesh Ansar and Village Defence Party’s media cell ‘Prantik Konthoswor’, he said that digital leadership, cyber security, and technology-based skills are now the foundation of future security frameworks.

The minister described ‘Prantik Konthoswor’ as an integral part of the government’s broader plan for digital transformation and information management. He urged the Ansar and Village Defence Force to engage its large workforce in modern technology and digital communication for national development. Citing the Bangladesh Bank reserve theft, he emphasized that protecting digital infrastructure from cyberattacks is now more critical than physical security.

Swapan highlighted that technology evolves continuously and called for a shift from analog to digital thinking. He urged the new platform to maintain ongoing innovation and capacity building. State Minister Habibur Rashid and Ansar Director General Major General A.M. Sajjad Mahmud also spoke at the event, where the importance of combating misinformation was underscored.