Bangladesh Bank has issued new directives to resolve letter of credit (LC) complications in importing essential energy, including liquefied petroleum gas (LPG). The central bank’s Banking Regulation and Policy Department (BRPD)-2 released a circular on Wednesday, aiming to maintain smooth energy supply across the country. The order temporarily suspends certain provisions of Section 26Ka(1) of the Bank Company Act, 1991, which restricts bank loans to a single person, institution, or group for energy imports.

According to the circular, the suspension will remain effective until December 31, 2026. During this period, Bangladesh Bank will determine the new upper limit replacing the previous 25 percent cap mentioned in the Act. The directive was issued under the authority granted by Section 121 of the Bank Company Act and has been sent to managing directors and chief executive officers of all scheduled banks.

The move is intended to ease financing constraints for energy importers and ensure uninterrupted fuel supply in the domestic market through year-end 2026.

Cabinet Secretary Nasimul Gani announced that Bangladesh currently holds a one-month reserve of fuel oil, exceeding the usual 15-day stock. He said the government is working to further increase reserves to ensure supply stability. The statement came during a press briefing at the Secretariat following a Cabinet meeting chaired by Prime Minister Tarique Rahman.

Gani explained that the Prime Minister reviewed the national energy situation, assessing ministry actions and available resources. He urged the public not to panic-buy fuel, noting that excessive purchases could lead to waste. The government has approved the purchase of two LNG cargoes through the Cabinet Committee on Public Procurement to maintain energy supply amid international market challenges.

Addressing rumors of possible fuel price hikes, the Cabinet Secretary said he was unaware of any such plans or indications. He also clarified that all types of fuel currently have sufficient reserves and that international jet fuel price increases have not directly affected domestic pricing.

India has resumed importing liquefied petroleum gas (LPG) from Iran for the first time in several years, despite ongoing tensions in the Strait of Hormuz. According to Reuters, the shipment became possible after the United States temporarily eased sanctions on Iranian oil and energy exports. The sanctioned tanker named 'Aurora', carrying Iranian LPG, is expected to arrive soon at Mangalore port on India’s western coast. The cargo will be distributed among three state-owned energy companies: Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation.

India had halted energy imports from Iran in 2019 due to pressure from Western sanctions. The renewed trade comes as energy transport through the Hormuz Strait has been disrupted following the outbreak of war between the United States, Israel, and Iran, leaving India among the most affected countries.

The development highlights India’s efforts to secure energy supplies amid regional instability and fluctuating global sanctions policies.

The Bangladesh Securities and Exchange Commission (BSEC) has approved a Tk 500 crore zero-coupon bond proposed by Akij Food and Beverage Limited. The approval was granted during a commission meeting held on Wednesday, chaired by BSEC Chairman Khondkar Rashed Maksud, according to an official press release.

The bond will be unsecured, non-convertible, and fully redeemable at face value upon maturity, with no interest payments. Its tenure will range from six months to a maximum of five years. Each unit of the bond will have a face value of Tk 10 lakh and will be issued through private placement to banks, non-bank financial institutions, insurance companies, institutional investors, and high-net-worth individuals. Sena Kalyan Insurance PLC will act as the trustee, while North Star Investments (BD) Limited will serve as the fund arranger.

The approval marks a significant financing initiative for Akij Food and Beverage Limited, expanding its access to institutional capital through the domestic bond market.

Kuwait has decided to reduce oil production due to a security crisis in the Strait of Hormuz. The state-owned Kuwait Petroleum Corporation (KPC) announced the decision in a statement on Tuesday, citing increased risks to maritime navigation. The company said production had already been reduced since the second week of March and would return to normal levels once the situation stabilizes. Under normal conditions, Kuwait produces more than three million barrels of oil per day.

The Strait of Hormuz is a critical global energy route, used daily by nearly 20 percent of the world’s oil and gas shipments. Security risks in the region have intensified since the start of the Middle East war, with several oil tankers reportedly attacked. In response, Iran has warned that vessels belonging to the United States, Israel, and their allies could face continued attacks as long as the conflict persists.

The production cut reflects Kuwait’s precautionary stance amid growing instability in the region, which has already disrupted energy supplies and affected daily life across parts of Asia.

Prime Minister Tarique Rahman has made it clear that fuel prices will not increase, according to his Policy and Strategy Adviser Jahid Ur Rahman. Speaking at a press conference organized by the Ministry of Information and Broadcasting on March 25, the adviser warned that petrol pump owners would not benefit from hoarding fuel. He emphasized that the government is monitoring the situation and urged citizens to refrain from panic buying.

Jahid Ur Rahman explained that the current fuel supply strain is linked to global crises and public fear rather than government mismanagement. He compared the situation to a bank run, noting that excessive withdrawals—or in this case, hoarding—can disrupt normal supply chains. The adviser said the government deliberately avoided raising domestic fuel prices to prevent inflation, given the country’s limited purchasing power.

He added that fuel rationing before Eid was lifted to ensure smooth travel, and called for public awareness to prevent unnecessary shortages caused by fear-driven behavior.

Nobin Fashion has announced the reopening of its showrooms with attractive offers ahead of Eid. The company made the announcement on its official Facebook page on Wednesday, stating that the decision to resume operations was made possible through the intervention of NCP leader and Member of Parliament Hasanat Abdullah.

According to the announcement, all branches except the Moghbazar outlet will remain open and host a 15-day Eid festival featuring various special offers and events for customers. The company’s managing director will join a Facebook Live session from China to share details of the promotional campaign.

Earlier, on Tuesday night, Managing Director Enamul Hasan posted a status from Shahjalal International Airport on his personal Facebook account, signaling preparations for the reopening.

Information and Broadcasting Minister Jahir Uddin Swapan has stated that Bangladesh is not facing any fuel crisis and that the government has no plan to increase fuel prices. He made the remarks on Wednesday morning during a press conference marking the government’s first month in office. The minister urged citizens not to panic or purchase extra fuel unnecessarily.

Swapan acknowledged that Bangladesh, like other countries, is facing challenges due to the conflict in the Middle East. However, he emphasized that the domestic fuel supply remains stable. His comments came amid public speculation about possible price adjustments following global tensions.

Earlier in the day, Prime Minister Tarique Rahman chaired a special meeting at the Secretariat to discuss measures for managing the country’s fuel situation, according to information released by the Prime Minister’s Office.

Diesel prices in Vietnam have more than doubled following the outbreak of war in the Middle East, according to data released Wednesday by the country’s Ministry of Trade. The ministry reported that since two days before the United States and Israel began attacks in Iran on February 26, diesel prices have risen by about 105 percent. The price increased from 19,270 dong per liter last month to 39,660 dong, or roughly 1.50 dollars. During the same period, 95-octane gasoline prices climbed nearly 68 percent, from 20,150 dong to 33,840 dong per liter.

The conflict has driven up global oil prices, raising fuel costs and sparking fears of a worldwide energy shortage. In response, Vietnam has sought energy assistance from countries including Qatar, Kuwait, Algeria, and Japan. On Monday, it signed an oil and gas production agreement with Russia. The Finance Ministry also proposed halving environmental protection taxes on petrol and diesel to ease domestic pressure.

Local residents have reported difficulties coping with the price surge, with some reducing vehicle use due to unaffordable fuel costs.

Dubai’s property market has suffered a sharp downturn following the spread of conflict across the Middle East after US and Israeli attacks on Iran. The city’s long-standing image as a safe investment haven has been damaged, leading to a rapid decline in real estate transactions and falling property values. Some housing agents have already signaled price cuts, while shares of major developers have dropped significantly, with Emaar Properties losing more than 26 percent since the war began.

A Goldman Sachs analysis reported that property transactions in the UAE fell 37 percent in the first 12 days of March compared with the same period last year, and nearly 49 percent compared with February. Some properties are being sold at discounts of 12 to 15 percent. The downturn follows five years of steady price growth, raising concerns of a broader market slowdown.

Citibank analysts warned that the ongoing conflict poses a major risk to Dubai’s future population growth and investor confidence, potentially deepening pressure on the housing market.

Larry Fink, chairman and chief executive of BlackRock, has warned that the global economy could face a severe recession if international oil prices rise to 150 dollars per barrel. In an interview with the BBC, he said the final outcome of the ongoing conflict in the Middle East remains uncertain but could lead to two extreme scenarios.

According to Fink, if the conflict is resolved quickly and Iran regains acceptance within the international community, oil prices could fall below pre-war levels. However, if the conflict drags on, prices may remain above 100 dollars for an extended period and could approach 150 dollars, which would have a serious impact on the global economy.

BlackRock, founded in 1988, manages about 14 trillion dollars in assets and is considered one of the world’s largest investors. Fink, one of its co-founders, is known for his insights into global economic trends.

Bangladesh’s total foreign debt rose to 113.51 billion dollars by the end of December 2025, marking the highest level on record. According to the latest Bangladesh Bank report released on Tuesday, the debt increased by 1.30 billion dollars in the last quarter of the year. At the end of September, the figure stood at 112.21 billion dollars. When the Awami League government left office, the debt was 103.41 billion dollars, meaning it grew by 10 billion dollars during the 18 months of the interim government.

The report shows that both public and private sector debts increased between October and December. Government debt rose from 92.55 billion to 93.46 billion dollars, while private sector debt climbed from 19.65 billion to 20.05 billion dollars. Economists noted that foreign borrowing had been rising for years, driven by large infrastructure projects such as metro rail, power plants, and expressways. The interim government also borrowed externally to cover salary payments during its first year.

Former World Bank economist Zahid Hossain said most of the debt is government-held and warned that misuse of borrowed funds could undermine repayment capacity, even though the debt-to-GDP ratio remains manageable.

A severe fuel shortage has spread across Bangladesh as most petrol pumps remain closed or impose strict rationing due to global war-related supply disruptions. Reports from Rajshahi, Khulna, Rangpur, Cumilla, Barishal, Cox’s Bazar, and Mymensingh show long queues, limited distribution, and widespread public suffering. In Rajshahi, pumps have run out of fuel since Monday, while in Khulna and Cumilla, drivers wait for hours only to receive small amounts. In Rangpur, allegations surfaced that some dealers are selling fuel on the black market at inflated prices.

The crisis began after U.S.-Israeli strikes on Iran led to the closure of the Hormuz Strait, pushing global oil prices above $100 per barrel. Bangladesh Petroleum Corporation (BPC) introduced rationing by vehicle type to manage the shortage, but supply gaps forced many stations to shut down. Local pump associations have urged authorities to deploy the army to prevent chaos during fuel distribution.

Officials and pump owners expect partial improvement within days, though uncertainty remains about when normal supply will resume.

Bangladesh’s apparel exports to European Union countries, the sector’s largest destination, dropped sharply at the start of 2026. According to Eurostat data, exports in January 2026 fell by 25.25 percent year-on-year to 1.43 billion euros, down from 1.91 billion euros in January 2025. The decline was driven by a 17.49 percent fall in export volume and a 9.41 percent drop in average price per kilogram. Industry stakeholders expressed concern that a prolonged downturn in the EU market could negatively affect Bangladesh’s overall economy, as nearly half of its export earnings come from this region.

Analysts attributed the slump to weaker consumer demand in Europe, rising living costs, higher interest rates, and slower retail sales. Increased competition from China, India, Vietnam, and other exporters has also intensified price pressure. Other major suppliers, including Turkey and China, also saw export declines. Former BGMEA director Mohiuddin Rubel noted that EU apparel imports overall fell by about 15.48 percent in January, reflecting a broader market slowdown.

Industry representatives urged swift policy action, emphasizing product diversification, higher value addition, stronger trade diplomacy, and exploring new markets to sustain export growth.

Israel has incurred more than $57 billion in economic losses due to its two-year-long military campaign in Gaza, according to the Bank of Israel’s 2025 annual report, as cited by Bloomberg. The report states that from 2023 to 2025, the country lost about 177 billion shekels, equivalent to roughly 8.6 percent of its gross domestic product. The majority of this loss was attributed to the Gaza conflict.

The report did not include the economic effects of Israel’s ongoing war with Iran, which involves Israeli airstrikes and retaliatory attacks. Earlier in March, Israel’s wartime cabinet approved a revised 2026 budget allocating an additional $13 billion to fund the war. The Bank of Israel also noted that trade with eight European Union countries criticizing Israeli strikes on Iran fell by $1.5 billion in 2025.

The report further warned that exports to countries taking a critical stance toward Israel could continue to decline, reflecting early signs of reduced trade activity.