Bangladesh Bank announced that the country received a record USD 35.56 billion in remittances during the 2025–26 fiscal year, marking the highest annual inflow in its history. The total remittance through formal channels from July to June stood at USD 3,556.20 crore, up from USD 3,032.90 crore in the previous year—an increase of USD 523.30 crore or 17.3 percent.

Officials attributed the growth to the government’s strict measures against informal money transfers, cash incentives for legal remittance channels, improved banking accessibility, and faster digital transfer options. These factors encouraged more expatriates to use official systems for sending money home.

Although June saw a slight decline with USD 280.06 crore—the lowest in seven months—Bangladesh Bank noted that data from 11 banks were not yet included, suggesting the final figure may rise. The strong remittance and export earnings have also bolstered the country’s foreign exchange reserves, which now stand at USD 37.56 billion gross and USD 32.90 billion in net usable reserves under IMF’s BPM-6 method.

Turkey has increased transit fees for ships passing through the Bosphorus and Dardanelles straits by about 15 percent, effective July 1, 2026. The country’s Ministry of Transport and Infrastructure confirmed the adjustment to Russian news agency RIA Novosti, stating that the new rate will be 6.70 US dollars per ton, up from the previous 5.83 dollars set in 2022. The revision is part of the ministry’s annual review process.

The Bosphorus and Dardanelles are among the world’s busiest and most strategically important maritime routes. This latest increase continues a trend of fee adjustments that began in 2022, after nearly four decades of unchanged rates at 80 cents per ton since 1983. In 2022, Turkey raised the fee more than fivefold to 4.8 dollars per ton as part of a policy shift.

According to preliminary estimates by Transport and Infrastructure Minister Abdulkadir Uraloğlu, Turkey expects to earn about 254 million US dollars from ship transits between July 2025 and June 2026, roughly 31 million dollars more than the previous fiscal year.

The house rent allowance for teachers employed in MPO-listed private educational institutions has been raised by 15 percent of their basic salary, effective from Wednesday, July 1, 2026. According to the Directorate of Secondary and Higher Education (DSHE), the issue of increasing the allowance has been finalized, and teachers and staff will receive the enhanced benefit from July.

Earlier, on October 21, 2025, the Ministry of Finance approved a 15 percent increase in the house rent allowance for MPO-listed teachers and employees of private institutions. The ministry’s approval letter stated that, considering the government’s budget limitations, the allowance would be implemented in two phases: 7.5 percent from November 1, 2025, and an additional 7.5 percent from July 1, 2026, making a total of 15 percent of the basic salary, with a minimum of 2,000 taka.

The DSHE confirmed that the finance ministry’s directive has now come into effect, ensuring that eligible teachers and staff will receive the revised allowance starting this month.

Bakshiganj Municipality in Jamalpur has announced a proposed budget of Tk 30 crore 5 lakh 39 thousand 942 for the 2026–27 fiscal year. The announcement was made on Tuesday afternoon at the municipal office conference room, where municipal administrator and Upazila Assistant Commissioner (Land) Asma Ul Husna presented the budget.

According to the proposal, total income is estimated at Tk 30 crore 5 lakh 39 thousand 942, while total expenditure is set at Tk 28 crore 58 lakh 88 thousand 119. The projected revenue income for the fiscal year stands at Tk 5 crore 77 lakh 75 thousand 823, with revenue expenditure estimated at Tk 4 crore 31 lakh 24 thousand. The revised budget for 2025–26 showed revenue income of Tk 9 crore 33 lakh 6 thousand 666 and expenditure of Tk 7 crore 33 lakh 79 thousand 490.

The budget announcement event was attended by local political leaders, municipal officials, social service officers, journalists, and other dignitaries, reflecting broad community participation in the fiscal planning process.

At least 30 people have died in Ghana and Ivory Coast following several days of continuous heavy rainfall that triggered floods and landslides. Hundreds of people trapped by rising waters have been rescued, according to local emergency services. In Ghana, a spokesperson for the national fire department confirmed that at least 12 people had died after heavy rain began a day earlier, warning that the toll could rise further.

In the capital city of Accra, torrential rain on Monday submerged homes and roads, prompting overnight rescue operations. Fire service commander Rashid Kwame Nissau said more than 400 people had been rescued by Tuesday, while teams continued pumping water from flooded houses and assisting affected residents. In Ivory Coast, heavy rain since Saturday also caused fatalities, though the government has not yet released an official death toll. A source close to the fire service and the interior ministry reported around 20 deaths.

Authorities in both countries are continuing rescue and relief operations as rainfall persists, raising concerns about further flooding and damage.

Rainfall began in Dhaka and surrounding areas around noon on Wednesday, July 1, 2026, following a cloudy morning. The Bangladesh Meteorological Department reported that the temperature in the capital dropped after the rain, with 27.2 degrees Celsius recorded at 6 a.m. and humidity at 93 percent. The city received 3 millimeters of rain in the previous 24 hours.

According to the department’s forecast, partial to heavy cloud cover and intermittent rain or thundershowers are expected across Dhaka and nearby regions. Winds from the south and southeast may blow at 10 to 15 kilometers per hour. Light to moderate rain with gusty winds and lightning is likely in several divisions, including Chattogram, Sylhet, Rangpur, Rajshahi, Mymensingh, Khulna, and Barishal. Some areas could experience moderate to heavy rainfall.

The forecast indicates that rainfall may intensify across the country through Saturday, July 4, particularly in Dhaka, Mymensingh, Khulna, Rajshahi, Barishal, Chattogram, and Sylhet divisions, while temperatures are expected to slightly decrease during the day and remain nearly unchanged at night.

A strong earthquake measuring 6.0 on the Richter scale struck parts of Mexico’s Baja California Peninsula on Tuesday. According to the U.S. Geological Survey, the quake occurred at 12:45 p.m. local time in the Gulf of California, with its epicenter located south and southwest of El Progreso. The tremor originated about six miles below the surface. No immediate reports of casualties or major damage were received. Light shaking was felt in the cities of Los Mochis and Culiacán in Sinaloa state.

The report noted that earthquake activity has recently increased worldwide. In Venezuela, two powerful quakes measuring 7.2 and 7.5 struck within 39 seconds of each other, a phenomenon known as a “doublet.” The U.S. Geological Survey also recorded 93 earthquakes of magnitude 4.5 or higher globally between June 19 and June 26, suggesting heightened seismic activity.

During the same period, a moderate 5.6 magnitude earthquake was recorded near Redwood Valley in Northern California, with its epicenter in Mendocino County about five miles underground.

State Minister for Planning Zunaid Saki emphasized strengthening the institutional capacity of the Bangladesh Public Procurement Authority (BPPA), modernizing the electronic government procurement (e-GP) system, and updating procurement laws and regulations to make public procurement more transparent, competitive, and technology-driven. He made these remarks on Tuesday at a stakeholder consultation workshop titled “e-GP System Development, Mandatory Implementation of e-GP, and Capacity Building of BPPA,” held at the BPPA conference room in the Planning Commission premises.

The workshop was chaired by BPPA Chief Executive Officer S. M. Moin Uddin Ahmed, with IMED Secretary Sirajun Noor Chowdhury as special guest. Participants included representatives from government agencies, business organizations, academia, and the media. Presentations highlighted BPPA’s progress, challenges, and future plans for procurement reform. Discussions also covered the proposed 110-member staffing structure, which participants deemed insufficient for BPPA’s expanding regulatory and training responsibilities.

Officials underscored the need for effective integration of the e-GP platform with other government digital systems and for expanding training to enhance officials’ skills in procurement laws and procedures.

The Dhaka Chamber of Commerce and Industry (DCCI) has expressed concern that Bangladesh’s newly announced contractionary monetary policy could undermine the positive effects of the national budget’s tax and tariff incentives aimed at boosting investment, industrialization, and private sector growth. The business body issued its reaction shortly after Bangladesh Bank unveiled the monetary policy for the next six months.

According to DCCI, private sector credit growth has already slowed to 5 percent, while the policy interest rate remains unchanged at 10 percent, discouraging new investment. Despite four years of tight monetary policy, inflation rose to 9.42 percent in May, the highest in South Asia. The organization also noted that government borrowing from banks has surged by about 26 percent, squeezing liquidity and making credit access harder for private entrepreneurs.

DCCI welcomed the central bank’s Tk 60,000 crore stimulus fund as a positive step but stressed the need for transparent and efficient implementation. It urged better coordination between fiscal and monetary policies to ensure sustainable, private sector–driven growth and effective delivery of incentives to struggling entrepreneurs.

The Premier Bank PLC held its 27th Annual General Meeting (AGM) on Tuesday morning at Golf Garden in Dhaka through a hybrid format. The meeting was chaired by the bank’s founder shareholder and chairman, Dr. Arifur Rahman, and attended by directors, senior executives, shareholders, and officials. Company Secretary Mohammad Akram Hossain presented the meeting notice, while the chairman welcomed shareholders and outlined the bank’s overall performance, achievements, and future plans.

Dr. Arifur Rahman stated that the bank is moving forward with honesty and transparency after overcoming past irregularities, aiming to position Premier Bank among the country’s top five banks through restructuring and good governance. Managing Director Md. Monzur Mofiz emphasized that the institution is advancing toward a strong and sustainable future by maintaining depositor confidence and protecting long-term shareholder interests.

The meeting also presented the audited financial statements, the board of directors’ report, and other agenda items for approval. Shareholders shared their opinions and participated in a question-and-answer session.

Across Europe, rising temperatures have intensified demand for air conditioning, yet most German households still lack such systems. Data show that while nearly 90 percent of U.S. homes have air conditioning, the European average is only 20 percent, and in Germany just 6 percent of homes have central cooling. The shift is driven by climate change, with June 2026 temperatures in Europe recorded as 2 to 4 degrees Celsius higher than late 20th-century averages, sharply increasing electricity demand for cooling.

Experts attribute Germany’s slow adoption to housing design optimized for heat retention, high installation costs, and strict architectural preservation rules in historic cities. Many residents live in rented apartments where installing air conditioners requires landlord approval. High electricity prices also discourage use, with 38 percent of Europeans reporting they cannot afford adequate cooling during heatwaves.

Environmental concerns are prompting interest in sustainable alternatives such as natural ventilation, heat-resistant materials, green roofs, district cooling, and AI-powered air conditioning systems that operate up to 40 percent more efficiently. Analysts note that as summers grow hotter, northern European countries are gradually adapting to this new climate reality.

Saudi Arabia’s Ministry of Human Resources and Social Development has announced an extension for expatriate workers facing work permit issues. The ministry said the deadline to regularize their status has been extended until the end of the current year, according to a report published on Tuesday by Gulf News.

The decision applies to expatriates whose work permits expired more than a year ago or who have not received a permit within six months of joining a company. The ministry stated that the move aims to ensure strict enforcement of labor laws, protect the rights of all contractual parties, and allow both employers and employees additional time to complete necessary legal and regulatory procedures.

Authorities have warned that failure to issue or renew work permits within the extended period will result in strict legal action. Additionally, the government has limited the number of immediate work visas available to new companies to a maximum of five.

Local residents of Merurchar Union in Bakshiganj upazila, Jamalpur, held a human chain on Tuesday afternoon along the Brahmaputra River at Bhati Kolkihara area. The demonstration called for urgent and effective measures to stop severe river erosion that has been destroying homes, farmland, and trees across nearly four kilometers of riverbank.

Speakers including Delwar Hossain, Aminul Islam, and Lepu Mia said continuous erosion has already engulfed parts of Fakirpara, Shantinagar, Baghadoba, and Bhati Kolkihara villages, leaving hundreds of families destitute. They warned that five villages risk disappearing from the map as new areas are being swallowed daily. Despite the growing threat, no permanent or effective steps have yet been taken to prevent further damage.

Participants demanded immediate construction of sustainable embankments and implementation of protective projects. They also urged government intervention, particularly from State Minister for Civil Aviation and Tourism M. Rashiduzzaman Millat, MP, and announced plans for larger protests if no prompt action follows.

Bangladesh Bank Governor Mostakur Rahman announced that Islami Bank has so far received Tk 13,000 crore in liquidity support. He disclosed this information on Tuesday during the presentation of the monetary policy for the first half of the 2026–27 fiscal year.

According to the governor, banks received Tk 17,000 crore in liquidity support during the Awami League government and Tk 51,000 crore during the interim government. He added that no funds were provided in the first four months after the current administration took office, but the liquidity assistance was extended to Islami Bank due to its financial crisis.

The announcement highlights the central bank’s intervention to stabilize Islami Bank’s liquidity position as part of broader monetary management efforts for the new fiscal year.

Bangladesh Bank has announced the monetary policy for the first half of the 2026–27 fiscal year, setting the private sector credit growth target at 6.8 percent through December. The policy was published on the central bank’s website on Tuesday afternoon, outlining the revised target as part of its updated monetary framework.

According to the information released, private sector credit growth stood at 5 percent in May of the previous fiscal year, while the full-year target for 2025–26 had been set at 8.5 percent. The new target represents a reduction compared to that earlier goal. Meanwhile, the target for domestic credit growth has been fixed at 10.5 percent.

The announcement reflects Bangladesh Bank’s continued efforts to manage credit expansion and align monetary policy with current economic conditions for the upcoming fiscal period.