The Trump administration has returned nearly $100 billion to importers in the United States after courts struck down a major portion of tariffs imposed on goods from various countries using emergency powers. Al Jazeera reported the figure, citing US customs authorities. The report was published on August 6, 2026.

In February this year, the US Supreme Court voted 6-3 to invalidate a major part of the administration's tariff policy. The court said imposing tariffs at such high rates through emergency economic powers was not lawful. Before the ruling, the administration had collected about $166 billion in tariffs from importers. Lower-court judges subsequently directed US Customs and Border Protection, or CBP, to begin the refund process.

In a court filing submitted Tuesday, CBP said it had accepted refund claims exceeding $128.68 billion for processing, with more than three-quarters already returned. Trade lawyer Ted Murphy and analyst Walker Livingston expressed surprise at the speed of the refunds. US lawmakers, however, alleged that the money is largely going back to large companies rather than consumers and small businesses that ultimately bore the higher tariff costs.

Oman has begun accepting visa applications to recruit agricultural workers from Bangladesh under an approved labour recruitment programme. The announcement was made by the Al Dhahirah branch of the Oman Agricultural Association, according to a Thursday report by Oman Daily Observer. Omani farmers are now permitted to apply for visas to hire Bangladeshi agricultural workers.

The recruitment process is being run on the basis of approvals issued by Oman’s Ministry of Labour and the Royal Oman Police. Registered farm owners will be able to obtain visas for Bangladeshi workers. Farmers seeking to hire them can submit applications at the association’s Al Murtafa office from August 9 to August 20. Applications containing any discrepancies will not be accepted.

Applicants must provide proof of annual fee payment, an agricultural holding certificate, a national identity card, a valid approval letter from the Ministry of Labour and other documents. An owner of a government service centre, Sanad, said approval has been granted to recruit 5,000 Bangladeshi workers in total. The facility is limited to registered agricultural association members, and each association may recruit no more than 330 workers.

Bangladesh Commerce Minister Khandaker Abdul Muktadir and Australian High Commissioner to Bangladesh Susan Ryle stressed broader, more institutional cooperation in trade, investment, skills development and research. At a Thursday meeting at the Commerce Ministry in the Secretariat, they discussed expanding cooperation in trade-negotiation capacity, education, agriculture, livestock and investment to deepen bilateral economic ties. Commerce Ministry Secretary Md Ataur Rahman Khan attended the meeting.

The minister said the government plans long-term institutional training to strengthen officials’ skills in international trade, particularly World Trade Organization law and trade negotiations. He said an initiative has been taken to establish a research and study centre, envisioned as a future regional hub for knowledge and skills exchange. He also cited planned specialised training for project directors.

Ryle said Australia was interested in supporting such long-term capacity-building programmes, including trade negotiations, legal aspects of international agreements and policy skills. The sides also discussed post-LDC trade benefits and future market access. Bilateral trade is about $5.5 billion and growing, she said. An Australian business delegation is planning a Bangladesh visit, while beef exports, halal certification, animal traceability and livestock management were also discussed.

The Bangladesh government has begun work on a draft revised Gold Policy 2018, aiming to move the country’s gold sector from an informal condition into a legal, recognized and accountable business sector. At a meeting at the Commerce Ministry in the Secretariat on August 6, Commerce Minister Khandaker Abdul Muktadir instructed relevant government agencies and stakeholders to submit written opinions on the draft by next Sunday.

The meeting was chaired by Commerce Ministry Secretary Md Ataur Rahman Khan and included Bajus President Enamul Haque Khan, Export Promotion Bureau Vice Chairman Mohammad Hasan Arif, and representatives of the National Board of Revenue, Bangladesh Bank and the gold sector. The minister said the sector had not become fully institutional because of inadequate policy and regulatory structures, and that regulatory weaknesses should also be considered rather than placing responsibility solely on businesses.

The proposed framework calls for every stage of purchasing, selling and storing legally imported gold to be recorded and monitored by regulators. The government is also considering employment, lawful imports, revenue collection, transparency and the potential for value-added jewellery exports. After stakeholder views are compiled, another meeting may be held if needed before work proceeds to finalize the revised policy quickly.

Gas supply to the national grid has resumed from the Excelerate Energy-operated floating LNG terminal in Maheshkhali after a two-week shutdown. From 3:10am on Thursday, the terminal began supplying 115 million cubic feet of gas a day, Petrobangla officials said. Total gas supplied to the grid from imported LNG has consequently risen to 660 million cubic feet daily.

Officials of Rupantarita Prakritik Gas Company Limited said one unit of the terminal was restarted early Thursday and supply began on a limited scale. Operations are being restored gradually, with the terminal expected to deliver gas at greater capacity within four to five days. Grid supply could increase further if sufficient LNG cargoes are available.

The terminal was completely shut down after a fire on July 21 was followed by technical problems. The outage created a daily shortfall of about 500 million cubic feet of gas in the national grid, while imported LNG supply fell by nearly half. Residential consumers, industrial operators and CNG users faced the greatest disruption, and load-shedding increased in several areas as gas-fired power plants received less fuel.

Pakistan and Iran have agreed to introduce round-the-clock border operations to increase bilateral trade. The decision was made on Wednesday during a meeting between Pakistani Prime Minister Shehbaz Sharif and an Iranian delegation led by Minister of Industry, Mines and Trade Mohammad Atabak. The two sides also agreed to improve border infrastructure and logistics and strengthen coordination in customs procedures.

The countries decided to expand cooperation in mining, particularly in processing and adding value to precious gemstones. Sharif said Pakistan would continue diplomatic efforts for regional peace and stability. He expressed hope that joint efforts by both countries could achieve their set target of $10 billion in bilateral trade. He also emphasized expanding trade in food and agricultural products.

Atabak praised Pakistan's hospitality and reiterated Iran's interest in further strengthening economic and commercial ties between the two countries. He said technical-level discussions on a Pakistan-Iran free trade agreement, or FTA, are under way. The reported measures focus on facilitating cross-border commerce through longer operating hours, infrastructure and logistics improvements, and greater customs coordination.

International gold prices rose for a fourth consecutive day, reaching their highest level in seven weeks as prospects strengthened for the Strait of Hormuz to reopen. Reuters reported on August 6 that spot gold gained 1% to $4,285.69 per ounce, its highest level since June 18. US gold futures also climbed 0.9% to $4,345.50 per ounce.

The report linked the rise in gold prices to market expectations surrounding developments in the Strait of Hormuz. The gains marked a continued advance in the precious metal over four straight trading days.

Analysts said a proposed agreement between Iran and Oman could help ease the five-month conflict between Iran and the United States. The prospect of normal shipping resuming through the Strait of Hormuz has raised investor confidence, according to the report.

Bangladesh’s banking sector reforms begun by the interim government after the July 2024 mass uprising are continuing under the current government, but bad loans, capital shortages, provision deficits and liquidity stress remain severe. When the interim government took office, the sector faced falling foreign-exchange reserves, an unstable dollar market, inflationary pressure and banks struggling to repay depositors. Bangladesh Bank responded with investigations, new loan-default policies, board restructuring, legal reform proposals and plans involving five weak Islamic banks.

Gross foreign-exchange reserves rose from $25 billion before the Awami League government’s fall to $36 billion at the end of July, an increase of $11 billion over two years. The report says the dollar market stabilised after Bangladesh Bank introduced a market-based exchange-rate system on May 14, 2025. Remittances reached $35.56 billion in fiscal year 2025-26, up 17.30 percent year on year, while deposit growth rose to 11.5 percent.

At the end of March, classified loans stood at Tk588,704 crore and the provision shortfall at Tk205,665 crore. The banking sector’s capital adequacy ratio fell to negative 2.64 percent last year. Economists say lasting recovery requires loan recovery, return of funds allegedly laundered abroad, capital restoration and restructuring of weak banks.

Chattogram Port Authority has asked the National Board of Revenue for permission to store empty containers outside port yards and off-docks under the supervision of shipping agents and main line operators. In a letter sent to the NBR chairman on July 26, the authority said empty containers are accumulating because fewer are removed than are emptied each day. The proposal aims to ease congestion and support normal port operations.

Port Secretary Syed Refayet Hamim said more than 3,000 of the slightly over 33,000 containers in different port yards are empty. He said they occupy space, make equipment movement harder, and add operational time and costs. The authority said it had first raised the issue with the NBR on October 13, 2025, but had received no response. It also cited arrangements in neighbouring countries for storing empty containers in non-bonded areas.

Chattogram Customs said empty containers are considered bonded goods and cannot be moved or stored without a bonded warehouse licence. BICDA called the proposal unrealistic, saying 18 off-docks had capacity for more than 30,000 additional containers. It said two new off-docks are expected to add capacity for 18,000 more units.

International oil prices edged lower after reports of progress in talks between Iran and Oman over the Strait of Hormuz. By Thursday morning, August 6, 2026, Brent crude futures had fallen 37 cents, or 0.5%, to $79.8 a barrel, according to Reuters.

US West Texas Intermediate crude futures also declined, dropping 53 cents, or 0.7%, to $74.69 a barrel. Investors hope the discussions could help create a path toward a peace agreement between the United States and Iran.

The report said such an agreement could end a conflict that has lasted five months and allow navigation through the Strait of Hormuz to return to normal. At the close of trading on Wednesday, Brent crude had risen slightly, while WTI crude finished the day marginally lower.

The world’s eight leading listed oil producers made about $93 billion in profit from April to June amid the Iran conflict and a global energy crunch, according to a Guardian analysis published on August 5, 2026. The report said the US-Israel war involving Iran pushed energy prices higher, with crude oil exceeding $126 a barrel at one point. Their combined profit was nearly double the figure of just under $50 billion recorded in the same period last year.

The companies were Saudi Aramco, BP, Shell, Equinor, TotalEnergies, Eni, Chevron and ExxonMobil. Aramco reported net income of more than $33 billion, up 34 percent. BP reported $5.73 billion in profit, Shell $9.84 billion in net income, Chevron $12.2 billion, and ExxonMobil $14.5 billion. The eight companies’ combined market value also rose by about $600 billion to more than $3 trillion.

Environmental groups said oil companies had profited from supply instability and urged that some earnings be used for climate-damage measures and renewable-energy investment. Global Witness official Patrick Galey called for oil companies to pay their fair share of tax. UN climate chief Simon Stiell said coal, oil and gas use must be reduced rapidly in favour of renewable energy.

Iraq exported more than 30 million barrels of crude oil through the Strait of Hormuz between July 4 and August 4, according to an AFP report published on August 5, 2026. The volume was about 29 percent of Iraq’s average monthly exports before the war. Iraq’s state oil marketing company SOMO said an estimated 35.5 million to 37 million barrels were transported through the strait in July.

Before the war, Iraq exported an average of 105 million barrels of oil each month through the Strait of Hormuz. Most of those supplies came from oil terminals in the southern Basra area. SOMO chief Ali Nizar provided the July transport estimate cited in the report.

Nizar said Iraq also exported another 7 million barrels through the Iraq-Turkey pipeline via the port of Ceyhan during the same period. Iraq transported some crude through Syria by tanker trucks as well. Discussions are still under way on plans to build a pipeline to Syria’s port of Baniyas.

International crude oil prices declined on hopes of a possible agreement to normalize shipping through the Strait of Hormuz. The report, published on August 5, said Brent crude, a key global benchmark, had fallen below $80 a barrel after exceeding $100 during the most intense period of the war.

By 1:10 p.m. Greenwich Mean Time on Wednesday, Brent had risen 26 cents, or about 0.33 percent, to $79.62 a barrel. US West Texas Intermediate crude was trading 12 cents, or 0.16 percent, higher at $75.90 a barrel. Investor confidence also increased amid expectations of a possible deal to restore shipping through the strait.

Analysts said ongoing talks between Iran and Oman, the stability of the US economy, and record profits at US companies contributed to positive market sentiment. On Tuesday, as Brent declined, the Dow Jones ended above 54,000 points at a new record. Analysts cautioned, however, that the positive market situation could change quickly if the Hormuz discussions fail to produce an agreement.

Kuakata, a tourist destination in Patuakhali, is experiencing up to 15 or 16 power cuts a day because it receives roughly half of its electricity demand from the national grid. The report, published on August 5, says tourists, hotel and resort owners, restaurant operators and local residents are facing severe disruption. Many tourism-related businesses are relying on generators for much of the day to keep operating.

The Kuakata zonal office of Patuakhali Palli Bidyut Samity supplies Kuakata municipality and the unions of Mahipur, Latachapli, Dhulasar and Dalbuganj. Residents said outages have occurred frequently during both day and night for several days. About 200 residential hotels and motels, more than 100 restaurants and other tourism businesses have had normal operations disrupted, while generator fuel and operating costs have increased.

Deputy General Manager Mostafa Aminur Rashed said local demand stands at 11 to 12 megawatts, while the area receives only 5 to 6 megawatts from the national grid. He said Kuakata has no additional allocation or special budget as a tourist destination, and the office has requested extra power allocations from higher authorities. Residents and tourism stakeholders called for a separate allocation and increased grid supply.

Saudi Arabia’s Deputy Minister of Human Resources, Muhannad bin Ahmed Al-Issa, said Bangladeshi workers can renew their iqama under another employer if their original employer or sponsor does not renew it. The announcement was made during a bilateral meeting on Tuesday with Bangladesh’s Expatriates’ Welfare and Overseas Employment Minister Ariful Haque Chowdhury, according to a report published on August 4, 2026.

Al-Issa said workers would be able to renew their iqama promptly under another employer or sponsor in such circumstances, without legal obstacles. Saudi Deputy Minister of Foreign Consular Dr. Mohammed A. M. Alshamri was also among the Saudi delegation at the meeting.

Bangladesh proposed formal reviews and renewals of three domestic worker recruitment agreements, a Skills Verification Program agreement, and a general worker recruitment agreement. It also called for meetings of a joint commission and joint technical committee, and proposed a Saudi-Bangladesh joint technical training institute in Bangladesh. Bangladeshi officials urged increased recruitment of skilled workers ahead of the 2034 World Cup in Saudi Arabia, protections for female domestic workers, and clemency for Bangladeshi workers held in Saudi detention facilities during Ramadan and Eid.