South Korea’s stock market experienced a major decline on Wednesday following reports of a joint US-Israel military strike, prompting authorities to temporarily halt trading. The KOSPI index dropped more than 8 percent, triggering an automatic 20-minute suspension under the market’s safety mechanism. When trading resumed, the index fell further, losing over 10 percent. Officials said the circuit breaker could be reactivated if the market drops by 15 percent.

This was the first activation of the circuit breaker since August 2024. The mechanism is designed to prevent excessive volatility by pausing trading during sharp declines. The temporary halt was part of the exchange’s standard risk control measures.

Analysts noted that South Korea’s heavy dependence on Middle Eastern oil imports and its export-driven economy make it particularly vulnerable to geopolitical instability. Disruptions in energy supply or trade routes can quickly affect investor confidence and market performance.

Bangladesh Bank has fixed the maximum rent rates for bank branches and other business centers across different regions of the country. The directive, issued on Thursday, states that banks will no longer need prior approval from the central bank if the rent remains within the prescribed limits. However, approval will be required if the rent exceeds those limits. Banks can now decide on leasing or renting business premises with their board of directors’ approval, including new contracts or renewals.

According to the circular, if the property owner is a bank director or a related party, prior approval from Bangladesh Bank will still be necessary. Approval will also be required for relocating business centers before the contract expires, or for renting premises for head offices and controlled divisions. The circular instructs banks to follow previous guidelines on advance payments, establishment costs, and rent escalation.

The maximum rent per square foot has been set at 104 taka in Dhaka City Corporation areas, with varying rates for other cities and rural areas. Banks must determine rent rationally within these limits, considering location, floor level, and building quality.

China has reportedly instructed its major oil refineries to temporarily suspend exports of diesel and petrol due to supply disruptions caused by the ongoing war in the Middle East, according to a Bloomberg News report published Thursday citing unnamed sources. The directive was said to have been delivered verbally by officials from the National Development and Reform Commission (NDRC) during a meeting with refinery representatives and was to take effect immediately.

The report noted that China, a net importer of crude oil, relies heavily on the Strait of Hormuz for energy shipments, which are currently halted. Last year, 57 percent of China’s seaborne crude imports came from the Middle East, according to data from analytics firm Kpler. Refineries were also told not to sign new export contracts and to negotiate cancellations of finalized shipments. When asked about the matter, a Chinese foreign ministry spokesperson said they were unaware of such a decision.

Bloomberg identified PetroChina, Sinopec, CNOOC, Sinochem Group, and Zhejiang Petrochemical as regular fuel exporters contacted by AFP, though none commented on the reported suspension.

State Minister for Textiles and Jute Md. Shariful Alam announced that closed state-owned jute mills will be reopened gradually under private management. He made the statement during a briefing at the Ministry of Textiles and Jute in Dhaka on Thursday, ahead of National Jute Day. According to the minister, seven mills are already being reopened in phases, while others will follow later under similar arrangements.

He noted that nine leased mills currently employ 7,200 workers, contributing positively to national production and employment. The minister also said that National Jute Day will be observed on March 6, inaugurated online by President Mohammed Shahabuddin. The main event will take place at the Osmani Memorial Auditorium, alongside a nine-day fair on jute and diversified jute products at the Bangladesh Shilpakala Academy premises from March 6 to 14.

The minister reaffirmed the government’s commitment to reviving the jute sector as part of its broader goal to transform Bangladesh into a modern, democratic, upper-middle-income country with a one-trillion-dollar economy by 2034.

The National Board of Revenue (NBR) has made it mandatory to use data from the ASYCUDA System’s Business Intelligence (BI) server for determining income tax based on actual information about imported goods and advance income tax payments at the import stage. The directive, issued on March 4 under the NBR’s Income Tax Wing, details procedures for tax officials to access and use the BI server. According to an NBR press release on March 5, the system will be used during tax audits, case reopenings, and corrections of faulty tax orders.

The order specifies that tax commissioners and range officers can log in to the BI server from pre-approved IP-bound computers to collect import-related data. Range officers must record the collected information in a designated register and inform relevant circle officers in writing. Initially, only range officers will have access to the BI server, not the assessing officers directly.

NBR stated that the initiative will enhance transparency, prevent tax evasion, expedite tax case resolution, and improve coordination between customs and income tax departments, marking a new phase in inter-departmental data sharing.

Depositors of five merged Shariah-based banks staged a sit-in in front of Bangladesh Bank on Thursday morning, demanding the return of their deposits and cancellation of a profit reduction decision. The demonstration began around 10 a.m. and included slogans and speeches criticizing the central bank’s previous policy. Law enforcement took strict positions around the area to maintain order.

Speakers at the human chain alleged that a former governor of Bangladesh Bank decided to cut profits on deposits from the past two years, offering only a 4 percent government concession instead. They described the move as inhumane and unfair, claiming many depositors have been unable to withdraw their principal or profits for two years, leaving families in severe financial distress.

Protesters demanded full repayment of deposits with profits for 2024 and 2025 and called for normal banking operations at the unified Islamic bank. They warned that if their demands are not met, they will besiege Bangladesh Bank on March 12.

After remaining closed for four years, the Shahjibazar 330-megawatt combined cycle power plant in Habiganj has resumed partial electricity production. The plant had been shut down since a fire on May 29, 2022, damaged its transformers. Due to a funding delay of about 4.5 crore taka, the government reportedly incurred losses of around 20,000 crore taka during the closure. Following approval of a 111.18 crore taka repair proposal in August 2025, Chinese firm Sepco-111 Electric Power Construction began restoration work and partially restarted one unit on February 27.

Currently, one unit with a capacity of 110 megawatts is supplying 40 megawatts to the national grid. Chief engineer Abdul Mannan stated that output could reach 165 megawatts within the month, potentially saving about 8 crore taka daily. The gas-based plant, inaugurated in 2017 after commercial operation began in 2016, had previously produced power at a significantly lower cost than furnace oil-based generation.

Officials expect the partial resumption to improve the national power supply situation after years of reduced capacity.

Production at two major fertilizer factories in Chattogram—Chittagong Urea Fertilizer Limited (CUFL) and Karnaphuli Fertilizer Company Limited (KAFCO)—was temporarily halted from 3 p.m. Wednesday following a government directive due to an ongoing gas shortage. Authorities said the decision was made after gas pressure dropped to levels that made normal production impossible.

According to factory sources, CUFL typically produces around 1,100 to 1,200 metric tons of urea fertilizer daily, while KAFCO has a daily capacity of about 1,725 metric tons of urea and 1,500 metric tons of ammonia. With gas supply suspended, this large-scale production has been stopped. Officials explained that fertilizer production is entirely gas-dependent, and operating under low pressure could damage machinery, prompting the temporary shutdown for safety reasons.

Although the sudden halt has raised some concern about fertilizer supply, officials assured that production will resume quickly once gas supply stabilizes to ensure market availability.

Energy economist Ed Hirs has warned that global oil prices could soar to 150 dollars per barrel due to ongoing military operations by the United States and Israel against Iran. Speaking to Al Jazeera, the University of Houston lecturer said that if even half of the oil shipments through the Strait of Hormuz are disrupted, prices could reach that level. He cautioned that such a scenario could occur if the US Navy fails to ensure the safety of tankers navigating the strait.

Hirs noted that the impact is already visible in the liquefied natural gas (LNG) market, where prices rose by more than 40 percent on the first day of the attacks. Between Monday and Tuesday, natural gas prices in several European countries nearly doubled. Diesel prices have also increased sharply, prompting gas-dependent nations to stockpile petroleum, which is affecting future energy orders in some US states.

He further warned that the New England region of the United States could face significant challenges, potentially increasing domestic pressure on the Donald Trump administration ahead of the upcoming midterm elections.

The closure of the Hormuz Strait following a joint US-Israel attack on Iran has triggered global concerns over energy supply disruptions. The strait, a key route for global oil transport, has been shut down for strategic reasons, leaving at least 700 oil tankers stranded in Middle Eastern ports. Among them is a vessel carrying 100,000 tons of crude oil for Bangladesh Petroleum Corporation’s Eastern Refinery, which remains stuck at Saudi Arabia’s Ras Tanura port. Another shipment scheduled from the UAE on March 22 is also at risk of delay, raising fears of a raw material shortage at Bangladesh’s only state-owned refinery.

Eastern Refinery officials warned that if crude oil shipments fail to depart within the next week, production could halt, intensifying pressure on Bangladesh’s fuel market. Energy experts have urged immediate exploration of alternative routes and suppliers, suggesting Abu Dhabi’s Zayed Port and refined oil imports from Singapore, Malaysia, China, or Indonesia. Current reserves can sustain operations for about a month, but prolonged disruption could severely impact national energy security.

Fuel prices have already surged globally, with diesel rising from USD 85 to 118 per barrel within days, reflecting the mounting crisis.

Bangladesh’s economy is under severe strain due to declining investment, employment shortages, revenue deficits, and falling export earnings. The situation has worsened following a joint U.S.-Israel attack on Iran that triggered regional conflict, driving up global oil and LNG prices and threatening supply chains. Iran’s retaliatory strikes on neighboring Gulf countries have further destabilized the Middle East, raising fears of a deep economic crisis in Bangladesh if the conflict continues.

Analysts note that Bangladesh is almost entirely dependent on imported crude oil and LNG, mainly from Saudi Arabia, the UAE, and Qatar. The closure of the Strait of Hormuz and production halts in Qatar have disrupted supply routes, pushing prices higher. Experts recommend austerity measures, prioritizing essential spending, and exploring alternative energy sources such as Malaysia and Brunei. They also urge short- and medium-term plans to ensure energy and food security.

The conflict threatens remittance inflows from the Middle East, where about one million Bangladeshi workers are employed, and could disrupt garment exports to Europe due to shipping route blockages. Analysts warn that prolonged instability may severely impact reserves, trade balance, and currency stability.

The Ministry of Social Welfare has finalized the 'Family Card Piloting Implementation Guideline-2026', which will be officially launched by Prime Minister Tareq Rahman on March 10 at the Karail slum in Dhaka. The program was initially planned for Bogura but was shifted due to the upcoming by-election in Bogura-6. The finalized policy excludes families with government pensioners, car or air-conditioner owners, government employees, and large business owners from eligibility.

According to the guideline, priority will be given to landless and homeless families, households with disabled members, and marginalized groups such as hijra, bede, and ethnic minorities. Eligible women beneficiaries will receive funds directly into their mobile wallets or bank accounts. The existing TCB card will be integrated into a dynamic social registry, enabling access to food aid and future benefits like education stipends and agricultural subsidies.

The pilot project will cover 13 diverse areas with a budget of 21.1 million taka, aiming to reach 6,500 poor families initially and expand to 20 million families. The long-term goal is to transform the Family Card into a universal social ID card by 2030.

A European Union official stated on Wednesday that the ongoing war involving Iran has not disrupted Europe's oil supply. Despite the conflict, the official noted that oil continues to flow normally to EU member states. However, the rising price of oil remains a major concern for the bloc, as it could affect economic stability if the trend continues.

According to Reuters, the official added that EU member states are not planning any immediate measures in response to the current oil market situation. The statement comes amid reports of nearly 200 tankers stranded in the Persian Gulf due to the closure of the Strait of Hormuz, and other regional tensions including a Hezbollah attack on Israel Aerospace Industries’ headquarters.

The EU’s position suggests a cautious approach, focusing on monitoring market developments rather than taking emergency action at this stage.

Israel’s Ministry of Finance reported that the country could face economic losses of about $3 billion per week due to the ongoing war with Iran. The ministry stated on Wednesday that restrictions under the Home Front Command’s ‘red’ alert have limited workplace attendance, closed schools, and mobilized reserve forces, leading to an estimated weekly loss of 9.4 billion shekels starting next week.

The conflict intensified after a joint U.S.-Israel strike in Iran last Saturday killed Iran’s Supreme Leader Ayatollah Ali Khamenei and several senior officials. In response, Tehran launched retaliatory attacks targeting U.S. bases and Israeli facilities across the Middle East, according to Reuters.

The ministry’s projection highlights the severe economic strain Israel faces as military operations and emergency restrictions disrupt normal economic activity.

QatarEnergy, the world’s largest producer of liquefied natural gas (LNG), has declared force majeure for its affected buyers after halting LNG and related product output. The company announced on Monday that production at its facilities in Ras Laffan Industrial City and Mesaieed Industrial City was suspended due to military attacks on those sites.

According to QatarEnergy, the force majeure declaration releases it from liability for failing to meet supply obligations caused by events beyond its control. The announcement immediately triggered a sharp reaction in global energy markets, with benchmark Dutch and British wholesale gas prices rising by about 50 percent, and benchmark Asian LNG prices increasing by roughly 39 percent.

Given Qatar’s central role in global LNG supply, the production shutdown has had a significant impact on international energy markets, intensifying concerns over supply stability and price volatility.