Bangladesh’s Minister for Road Transport, Bridges, Railways, and Shipping, Sheikh Robiul Alam, held a bilateral meeting in London with UK Transport Minister The Right Honourable Heidi Alexander. During the meeting, he requested the United Kingdom’s assistance in simplifying and expediting OKTB, transit, and seafarer-related visas for Bangladeshi sailors working on international vessels. The discussion took place on Thursday, with details released by Bangladesh’s Ministry of Shipping on Friday.

The minister called for greater British investment, joint ventures, technology transfer, and public-private partnerships in Bangladesh’s shipbuilding, marine engineering, port development, and maritime industries. He highlighted Bangladesh’s commitment to implementing the Hong Kong International Convention to ensure global standards in ship recycling, noting that 27 of the country’s 42 recycling yards already meet international criteria. He also reaffirmed Bangladesh’s support for global efforts to reduce greenhouse gas emissions and promote sustainable maritime transport.

Both sides expressed determination to strengthen cooperation in transport, shipping, railways, port development, trade, and investment. Sheikh Robiul Alam invited the UK minister to visit Bangladesh at a convenient time.

Saudi Arabia has reportedly suspended or delayed money transfers to the United Arab Emirates, according to a Financial Times report published on Tuesday. The move, in effect since May, has prevented funds from Saudi banks from reaching Emirati accounts, signaling growing friction between the two Gulf nations. The Saudi central bank denied imposing any formal restrictions when contacted by the newspaper.

The Financial Times report noted that disputes between Riyadh and Abu Dhabi have become increasingly visible since early this year. Once close allies, the two countries have diverged over issues such as relations with Israel, policies in Somalia, Sudan, and Yemen, and competition for regional economic influence. The UAE’s decision to leave OPEC earlier this year and its support for separatist groups in Yemen have further strained ties.

Analysts cited in the report said economic rivalry between the two major Arab economies is longstanding. The current financial disruption could deepen mistrust and complicate cooperation in trade, energy, and regional security.

International oil prices dropped by nearly 2 percent on Thursday as renewed US-Iran hostilities delayed the full reopening of the Strait of Hormuz. The disruption has kept global fuel supply tight, but concerns over rising inflation and slowing economic activity have weakened demand expectations. Brent crude fell by $1.72, or 2.2 percent, to $76.30 per barrel, while US West Texas Intermediate (WTI) crude declined by $1.44, or 2 percent, to $72.08 per barrel.

Before the conflict, about 20 percent of global oil supply passed through the Strait of Hormuz. The latest escalation followed US strikes on Iran’s southern and eastern provinces, prompting retaliatory attacks by Iranian forces on US military infrastructure in Gulf countries. The three-week ceasefire agreement between the two sides is now under renewed strain.

Analysts from Macquarie Group and Goldman Sachs noted that while tensions remain high, both nations face economic and political constraints. Qatar, Turkey, and Oman urged restraint and a return to diplomacy, as tanker traffic through the strait has fallen below 70 percent of normal levels due to renewed attacks.

The United States’ Strategic Petroleum Reserve has fallen to its lowest level since 1983, according to data from the Department of Energy. The decline comes as tensions between the US and Iran intensify, raising global concerns about oil supply stability and price volatility. On Wednesday, President Donald Trump acknowledged that oil prices rise whenever the US strikes Iran. That same day, Brent crude prices climbed 5.2 percent to reach 78.02 dollars per barrel, the highest since June 19.

The Energy Department reported that for the week ending July 3, the reserve dropped by 6.2 million barrels to 319.5 million barrels, far below its total capacity of 713.5 million barrels. The drawdown was part of Washington’s effort to stabilize global oil markets during the ongoing conflict with Iran and to prevent a severe crude shortage.

Analysts warn that maintaining adequate reserves is crucial for signaling market confidence. The current depletion could limit President Trump’s strategic options in managing the conflict and global oil policy.

Severe weather has disrupted Bangladesh’s import-export trade, leaving more than fifty cargo ships stranded off Chattogram Port for four consecutive days. Continuous heavy rainfall and rough seas have prevented lighter vessels from approaching mother vessels anchored offshore, halting unloading operations. Port officials reported that only three of fifty-five vessels are unloading on a limited scale during brief breaks in the rain. Several off-docks have also been flooded, damaging containerized goods, while traders estimate financial losses exceeding hundreds of crores of taka.

According to the port authority, the stormy conditions in the Bay of Bengal have made unloading unsafe, prompting restrictions to prevent accidents. Perishable goods are being prioritized for limited unloading. Although container handling at the main jetty remains normal, delivery volumes have dropped sharply due to flooding across the city. Daily container deliveries have fallen from 3,500–4,000 to about 2,500–2,600 units.

Business leaders said the disruption is affecting factory production and market supply, while importers face daily waiting charges of $15,000–$25,000 per vessel. The port expects congestion to ease once weather conditions improve.

Bangladesh’s Expatriates’ Welfare and Overseas Employment Minister Ariful Haque Chowdhury announced that the government plans to send 10 million skilled workers abroad over the next five years. He made the statement in parliament while responding to questions from lawmakers during the national budget session. The minister said that 110 training institutions, including 104 technical training centers and six institutes of marine technology, are currently providing skill development training in 55 trades and courses to prepare workers for overseas employment.

Chowdhury added that the government is working to ensure safe, regular, and orderly migration while controlling migration costs and curbing fraud by middlemen. A new digital platform, the Overseas Employment Platform (OEP), has been launched to make the migration process more transparent and accountable. The government has also introduced the 2025 regulations for licensing recruiting agents and registering sub-agents to bring them under legal oversight.

He further stated that district and upazila-level migration coordination committees have been formed to implement local migration activities, and that the government continues to assist expatriate workers, including repatriating deceased workers’ bodies at state expense.

The Washington-based research organization The Bengal Council has released a new policy paper analyzing the recently signed United States–Bangladesh trade agreement. Titled “The Cotton Corridor: Bangladesh’s Reciprocal Trade Agreement with the United States and the Path Forward,” the six-page paper examines the strategic importance, potential, and implementation aspects of the deal signed earlier this year. It emphasizes that the agreement should be seen not merely as a tariff reduction initiative or political issue but as the institutional basis for a long-term economic partnership between the two nations.

The paper discusses five key areas: Bangladesh’s export economy, the agreement’s core commitments, the global geopolitical and trade context, prospects for bilateral cooperation, and institutional challenges in implementation. It highlights that effective execution of the zero-tariff benefit for garments made with US cotton could significantly enhance Bangladesh’s apparel competitiveness. The report also notes that the deal could influence Bangladesh’s relations with other partners such as the EU, India, and China, while opening opportunities in investment, technology, supply chain stability, cybersecurity, and development finance.

Eight recommendations are proposed, including launching the zero-tariff corridor swiftly, strengthening parliamentary oversight, managing third-country relations strategically, and using the agreement to drive domestic reforms.

The Asian Development Bank (ADB) has projected Bangladesh’s gross domestic product (GDP) growth at 4.5 percent for the 2026–27 fiscal year, according to its updated Asian Development Outlook released on Thursday. The forecast suggests a modest improvement from the estimated 3.7 percent growth in the previous fiscal year but remains significantly below historical levels. The ADB noted that high inflation, weaknesses in the banking sector, energy supply constraints, and global economic uncertainty continue to weigh on the country’s recovery.

The report attributes last year’s slower growth to high inflation, weak exports, stagnant private investment, rising energy costs, and adverse global conditions. It expects some positive effects this year from easing inflationary pressure, regulatory reforms, improved governance, and sustained remittance inflows. However, the ADB warned that recovery will remain slow due to structural challenges, including energy shortages, high production costs, and limited competitiveness.

The inflation forecast for 2026–27 has been raised from 8.5 to 8.8 percent, reflecting recent adjustments in fuel, gas, and electricity prices. The ADB also cautioned that escalating Middle East conflicts or rising global oil prices could further strain Bangladesh’s external balance and fiscal management.

Commerce Minister Khandaker Abdul Muktadir announced that the government will facilitate the private sector to encourage new investments. Speaking at a contract signing ceremony at the Secretariat on Thursday, he said the government is working with full effort to create employment across various sectors as quickly as possible. He noted that private sector management tends to be more efficient than government operations, and facilitating private investment would help expand job opportunities.

State Minister for Textiles and Jute Shariful Alam stated that the government aims to ensure the maximum and effective use of state resources. To achieve this, initiatives have been taken to attract private investment in closed Bangladesh Jute Mills Corporation (BJMC) mills to revive production, employment, and economic activities. Out of 25 closed mills, 20 have been selected for leasing, with 14 lease agreements completed and production already resumed in nine mills.

According to the State Minister, these mills have created about 9,500 jobs and are producing around 160 metric tons of jute goods daily. Additional land leases and new investments are expected to further expand production and employment opportunities.

Bangladesh Bank has granted President Md. Shahabuddin special permission to withdraw Tk 2 million from his account at Global Islami Bank, exceeding the withdrawal limits set under the bank resolution scheme. The approval was given on June 16, 2026, following his application in late May through the bank’s Gulshan corporate branch, citing medical and family expenses.

Under the resolution scheme, depositors of five merged banks are generally allowed to withdraw up to Tk 200,000, with additional withdrawals of Tk 100,000 permitted every three months for larger deposits. In cases of serious illness, withdrawals of up to Tk 1 million per month may be approved. However, many depositors have complained about difficulties in accessing such special permissions despite medical needs.

Bangladesh Bank Executive Director and spokesperson Arif Hossain Khan confirmed the approval, stating that the President’s position and medical reasons were considered. He added that similar exceptions have been granted previously to other depositors facing critical health conditions.

Global gold prices fell sharply on Thursday, with spot gold dropping 0.3 percent to 4,066.24 dollars per ounce in Asian trading, according to Reuters. The decline followed renewed military tensions between the United States and Iran, after US President Donald Trump declared that the memorandum to halt war with Iran was no longer valid. Shortly afterward, the US military announced new strikes against Iran in the Strait of Hormuz.

The conflict pushed oil prices higher, with crude rising about 5 percent on Wednesday and continuing upward on Thursday. Analysts warned that prolonged Middle East tensions could further raise oil prices and global inflation, prompting the US Federal Reserve to keep interest rates elevated for longer. The dollar and global stock markets also came under pressure.

The International Monetary Fund reduced its 2026 global growth forecast to 3 percent, while Bank of America cut its average gold price forecast for 2026 by 14 percent to 4,360 dollars per ounce, citing the likelihood of tighter US monetary policy.

Global oil prices increased following new US airstrikes in Iran that killed eight Iranian soldiers. According to Reuters, as of 12:54 a.m. GMT, Brent crude rose by 78 cents, or 1 percent, reaching 78.80 dollars per barrel. The US benchmark West Texas Intermediate (WTI) crude also climbed 74 cents, or 1.01 percent, to 74.26 dollars per barrel.

Iran’s state news agency IRNA confirmed that the US strikes occurred early Wednesday in southern Iran, targeting areas near Bandar Abbas and Bushehr. The casualties included members of Iran’s air and naval forces. In response, Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed to have launched retaliatory missile and drone attacks on key US military bases in Kuwait and Bahrain.

The IRGC stated through state broadcaster IRIB that the attacks marked the first phase of a “punitive response,” targeting Camp Arifjan and Ali Al Salem bases in Kuwait, as well as Juffair and Sheikh Isa bases in Bahrain.

Registration of property gift and donation deeds has been suspended in several parts of Bangladesh for days due to complications arising from the newly imposed donation tax and the introduction of automated e-challan payment systems. The lack of prior understanding of the e-challan process has also led to a sharp decline in the number of sale deeds, reportedly falling to half of previous levels. Overall, deed registration activity at sub-registrar offices has dropped to one-third of normal, resulting in reduced government revenue.

To address the confusion, the National Board of Revenue (NBR) issued a clarification circular on Tuesday. The circular explains that under the Income Tax Act 2023 and the Withholding Tax Rules 2026, donation tax must be collected via e-challan for property transfers through gifts or donations, but not for sales. It also specifies that land tax receipts must show payment for fiscal year 2026–27, and certain urban property transactions require submission of income tax returns before registration.

Officials expressed hope that the clarification will resolve confusion and restore normal registration activities soon.

India’s stock markets plunged sharply after U.S. President Donald Trump declared the Iran peace deal “over,” erasing about eight lakh crore rupees in market value within hours. On Wednesday, the Nifty index fell 2.12% to 23,882.05 points and the BSE Sensex dropped 2.15% to 76,503.60 points, marking their steepest decline in three months. The announcement also rattled global markets, with major indices in Europe, Asia, and the U.S. futures all falling.

The renewed Middle East tensions pushed Brent crude oil prices up 6.3% to nearly $79 per barrel, the highest in two weeks, after reports of U.S. and Iranian strikes on each other’s targets. As the world’s third-largest oil importer, India faces rising import costs and inflationary pressure when oil prices surge. The rupee weakened 0.62% to 95.555 per U.S. dollar.

Analysts said the developments heightened concerns over energy supply and foreign investor sentiment. Heavy selling by foreign investors, especially in financial and IT sectors, contributed to the broad-based decline across all 16 major sectoral indices.

The Bangladesh government has moved to finalize the draft of the ninth national pay scale, proposing several structural changes. A secretary committee has recommended adjusting the ratio between the highest and lowest basic salaries from 1:8 to 1:7.5, along with revisions to various allowances and a two-phase implementation plan. Although the new pay scale was announced to take effect from July 1, the official gazette has not yet been issued, and the Ministry of Finance expects a delay of two to three months.

The draft also includes differentiated annual increments by grade instead of a uniform rate. Data from the Bangladesh Bureau of Statistics’ Living Standard Survey 2025 has been used to guide the new structure, reflecting average household expenses. The pay commission proposed a top basic salary of Tk 160,000 and a minimum of Tk 20,000, but the secretary committee is considering Tk 150,000 for the top grade and a slightly lower minimum. Allowances such as medical and education benefits are likely to be lower than the commission’s recommendations but higher than current levels.

Implementation will occur in two stages: basic salary increases in the current fiscal year and allowance adjustments from 2027–28. The proposal is expected to reach the cabinet within two weeks for approval.