The government of Bangladesh has approved separate proposals to buy 10 million liters of refined soybean oil and 10,000 tons of lentils to stabilize the market ahead of the upcoming holy month of Ramadan. The approvals were granted at the fourth meeting of the Advisory Council Committee held at the Cabinet Division on Tuesday, chaired by Economic Adviser Dr. Salehuddin Ahmed. After the meeting, Energy Adviser Muhammad Faozul Kabir Khan said the decision was taken to keep the prices of edible oil and lentils stable during Ramadan.

According to the approved plans, the lentils will be purchased from local company KBC Agro Products Pvt. Ltd. through open tender in 10 lots at a total cost of Tk 70.96 crore, with the price set at Tk 70.96 per kilogram. The soybean oil purchase will cost Tk 185.92 crore, with 5 million liters to be bought from Super Oil Refinery Ltd. at Tk 185.95 per liter and another 5 million liters from Shabnam Vegetable Oil Industries Ltd. at Tk 185.90 per liter.

The same meeting also approved fertilizer imports, a road sector project, and the purchase of a research vessel and speedboats for oceanographic research.

Bangladesh’s mobile phone sector is facing severe instability following the government’s implementation of the National Equipment Identity Registrar (NEIR) system. The Mobile Phone Industry Owners Association of Bangladesh (MIOB) raised branded handset prices soon after the rollout and donated Tk 46 crore to the Bangladesh Telecommunication Regulatory Commission (BTRC) to support the project. Meanwhile, grey market traders have protested the initiative, claiming it will render their unsold stock unusable. After a 20‑day closure, they reopened shops but suspended sales of officially distributed smartphones, pledging to continue demonstrations until March 15.

Industry sources said the price surge is not sudden but linked to a global rise in memory chip costs, which have increased by up to 60% since 2025. The higher component prices, coupled with growing demand for AI‑enabled smartphones requiring more RAM and processing power, have pushed production costs up by 10–15%. Retail prices in Bangladesh have risen 10–25% across categories, with brands such as Xiaomi, Vivo, Infinix, Realme, Samsung, and OnePlus all increasing prices.

The BTRC stated that it accepted MIOB’s donation due to the absence of government budget for NEIR, describing the move as being in the national interest.

Bangladesh’s Chief Adviser’s Special Envoy for International Affairs, Lutfey Siddiqi, has said that the United States is likely to announce a reduction in counter-tariffs on Bangladeshi products early next week. Speaking at a press conference at the Foreign Service Academy on Tuesday, he stated that the US is sincere about lowering tariffs and that an official announcement could come by the end of this week or the beginning of next. The current tariff rate stands at 20 percent, though the extent of the reduction has not yet been clarified.

Siddiqi explained that he held detailed discussions on the issue with US Treasury Secretary and cabinet member Scott Besent during the World Economic Forum in Davos. He noted that many elements of the US non-tariff policy align with Bangladesh’s interim government’s reform agenda and that the trade deficit between the two countries, previously around six billion dollars, has significantly narrowed. These developments, he said, have contributed to a positive outlook from the US regarding easing trade barriers for Bangladesh.

Siddiqi also discussed Bangladesh’s ongoing trade talks with the European Union, Japan, Singapore, and South Korea, highlighting both opportunities and challenges in securing future trade benefits after the country’s graduation from LDC status.

Bangladesh Bank has decided not to immediately liquidate three non-bank financial institutions—GSP Finance, Prime Finance, and Bangladesh Industrial Finance Company (BIFC)—while proceeding with closure plans for six others. The decision was made at a board meeting chaired by Governor Ahsan H. Mansur, where the institutions were given three to six months to improve their financial indicators. The central bank had earlier initiated liquidation proceedings against nine NBFIs due to high default loans and failure to return deposits.

The nine institutions under scrutiny include FAS Finance, BIFC, Premier Leasing, Fareast Finance, GSP Finance, Prime Finance, Aviva Finance, Peoples Leasing, and International Leasing. Their default loans reportedly range between 75 and 98 percent, attributed to long-standing irregularities and weak management. Hearings on the liquidation process concluded last Sunday, after which the board approved conditional time extensions for the three firms.

Governor Mansur also stated that depositors of the nine distressed NBFIs will receive their principal amounts before Ramadan, with the government verbally approving around Tk 5,000 crore for repayments. No interest will be paid on these deposits.

Oman has assured that work visas for Bangladeshi workers will be reopened within the next two months. The decision came following a meeting between Dr. Asif Nazrul, adviser to Bangladesh’s interim Ministry of Expatriates’ Welfare and Overseas Employment, and Oman’s Minister of Labour Dr. Mahad bin Saeed bin Ali Bawain Salim Al-Busaidi. The discussion took place on the sidelines of the Global Labour Market Conference in Riyadh.

During the meeting, Dr. Nazrul praised Oman’s initiative to regularize undocumented Bangladeshi workers without penalties and requested opportunities for skilled professionals such as engineers, doctors, and nurses to enter Oman’s labour market. He also urged reconsideration of the suspension on work visas for unskilled and semi-skilled workers.

Oman’s labour minister explained that the suspension, imposed in 2023, aimed to prioritize the regularization of irregular migrant workers. He confirmed that after reviewing the situation, Oman would resume issuing work visas for Bangladesh soon. Dr. Nazrul also proposed holding the next Joint Technical Committee session in Muscat and signing a finalized memorandum of understanding to strengthen bilateral labour cooperation.

Venezuela’s interim president Delcy Rodríguez has forecast that the country could attract around $1.4 billion in foreign investment in its oil sector in 2026. She said the projected amount would represent about a 55 percent increase compared to 2025 if planned reforms are implemented. Rodríguez made the remarks during a public consultation meeting with business leaders on opening the oil industry to private investment.

According to AFP reports from Caracas, Rodríguez explained that a proposed bill aimed at easing long-standing state control over the energy sector is awaiting final approval in parliament. She noted that last year’s oil investment stood at about $900 million, while contracts worth $1.4 billion have already been signed for the current year. She emphasized that Venezuela, which holds the world’s largest proven oil reserves, must regain a strong production position.

Rodríguez assumed the interim presidency on January 3 after U.S. special forces ousted Nicolás Maduro. She now faces U.S. pressure to grant American oil companies access to Venezuelan fields, a condition reportedly tied to former U.S. president Donald Trump’s support for her leadership.

Ha-Meem Group of Industries Managing Director AK Azad said that Bangladesh’s tight monetary policy has already led to the loss of 1.2 million jobs, with another 1.2 million at risk in the next six months. Speaking on Tuesday at a roundtable titled “Implications of LDC Graduation for Banking Industry: Bangladesh Perspective,” organized by the International Chamber of Commerce Bangladesh (ICC), Azad argued that inflation cannot be reduced solely through monetary tightening, as it is linked to revenue and other factors. The event was attended by Bangladesh Bank Governor Ahsan H. Mansur, ICC President Mahbubur Rahman, and several business and banking leaders.

Citing a study by Ahsan Habib, Azad noted that LDC graduation could reduce exports to the European Union by 45 percent and that the banking sector’s non-performing loans have reached 30 percent due to a slowdown in the ready-made garments industry. He warned that this could deepen liquidity pressures, with default rates at 50 percent in state banks and 30 percent in private ones. Azad added that the private sector has taken only 6 percent of total bank loans, compared to the government’s 27 percent, which may rise to 32 percent.

He emphasized that without boosting investment and employment, the economy cannot be stabilized through monetary policy alone and urged the new government to address the impacts of LDC graduation promptly.

The United States has sharply criticized the European Union over its long-awaited free trade agreement with India, accusing Europe of indirectly financing the Russia–Ukraine war. Senior economic officials in the Trump administration claimed that by purchasing refined Russian oil from India, Europe is unintentionally supporting Moscow’s war efforts. US Treasury Secretary Scott Bessent said that although Europe has restricted direct oil trade with Russia, its imports of refined oil from India amount to indirect funding of the conflict.

Bessent described Europe’s approach as unbalanced compared to Washington’s tougher stance. He noted that the US has imposed a 50 percent tariff on India as a punitive measure while Europe continues to benefit by buying refined oil. His comments came as India and the EU prepared to formally announce the trade deal after nearly 14 years of negotiations. European Commission President Ursula von der Leyen has called the agreement “the mother of all trade deals.”

The announcement adds a new dimension to global trade amid existing tensions driven by US tariff policies and the ongoing Russia–Ukraine war.

India and the European Union have finalized a landmark free trade agreement after almost twenty years of intermittent negotiations, Prime Minister Narendra Modi announced on Tuesday. The deal, reached amid global uncertainty surrounding the United States, aims to strengthen alternative economic and strategic ties between the two sides. It will open India’s large and relatively protected market to the 27 EU member states, while the EU remains India’s largest trading partner.

Modi described the agreement as a major breakthrough, calling it the “mother of all deals” that will create new opportunities for India’s 1.4 billion people and millions across Europe. He and European Commission President Ursula von der Leyen are expected to present the details at the India–EU summit in New Delhi. In the 2024–25 fiscal year, bilateral trade between India and the EU reached 136.5 billion dollars.

According to an Indian government official, the agreement is now undergoing legal review, expected to take five to six months. Once completed, it could come into effect within a year of formal signing.

Port workers at Benapole land port in Jashore staged a human chain protest on Tuesday morning demanding reinstatement of their discontinued allowance. The demonstration, held from 9:30 a.m. to 10:30 a.m. in front of the cargo vehicle terminal under the banner of the Land Port Demand Implementation Council, led to a complete halt in import, export, and unloading operations for one hour, causing congestion inside the port.

Speakers at the protest said they had been receiving the allowance for 21 years as compensation for overtime work, but the government stopped the payment two months ago without prior notice. They described the decision as causing severe financial and mental hardship for employees. Around 150 workers participated in the event, chanting slogans for reinstatement of the benefit.

Warehouse inspectors Shahadat Hossain, Hafizur Rahman, and Nahid Parvez addressed the gathering, warning that if their demands were not met soon, they would announce tougher protest programs in the future.

U.S. President Donald Trump has announced an increase in tariffs on imports from South Korea, raising the rate from 15 percent to 25 percent. He stated that South Korea failed to properly implement the terms of a bilateral trade agreement, prompting this decision. The announcement was made Monday through a post on Trump’s social media platform, Truth Social, where he said the measure targets cars, wood, pharmaceuticals, and other goods.

It remains unclear whether the new tariff has taken immediate effect, as no confirmation was available. CNN reportedly contacted the White House for comment but received no response. South Korea is one of the largest exporters to the United States, with exports worth about 132 billion dollars in 2024, including cars, auto parts, semiconductors, and electronics. Analysts fear the new tariffs could raise prices of these products in the U.S. market.

Trump’s authority to impose broad tariffs on multiple countries is currently under legal scrutiny in the U.S. Supreme Court. A ruling against the administration could limit his ability to unilaterally alter import tariffs in the future.

Saudi Arabia is significantly reducing the scope and size of its ambitious Neom megaproject following a year-long internal review. According to a Financial Times report cited on Sunday, the project’s cost has been cut and its design reworked. Crown Prince Mohammed bin Salman is now pursuing a smaller development plan due to delays, rising expenses, and technical challenges. The Neom project, launched in 2017 as part of the kingdom’s economic transformation plan, spans the Red Sea coast and includes the futuristic city concept known as “The Line,” which is now being redesigned and downsized.

Sources told the Financial Times that “The Line” may be converted into a conventional project using existing infrastructure, while Neom could evolve into a data center hub as Saudi Arabia seeks a stronger role in the global artificial intelligence sector. The review comes amid lower oil prices and a government cost-cutting drive, as the country prepares for major events such as Riyadh Expo 2030 and the 2034 FIFA World Cup.

Several subprojects, including the Trojena ski resort and the Oxagon industrial zone, are being scaled back or redesigned to align with Saudi Arabia’s current economic realities.

A five-member delegation led by US Ambassador to Bangladesh Brent T. Christensen visited Chattogram Port on Monday, January 26, and met with the port authority’s chairman, Rear Admiral S M Moniruzzaman. During the courtesy meeting, the chairman briefed the delegation on the port’s major achievements under the interim government following the July 2024 mass uprising.

He highlighted reforms implemented to overcome irregularities, labor unrest, pressure group influence, fire incidents, and digitalization barriers. These efforts led to record handling performance, reduced turnaround and dwell times, expanded port limits, higher profits, and progress in major projects such as the Bay Terminal and Matarbari Port. The chairman also welcomed US interest in establishing a cold chain industry for reefer container storage and noted the positive role of labor unions in ensuring smooth operations.

Ambassador Christensen expressed satisfaction with the port’s progress and future plans, assuring full US cooperation to make it more efficient and world-class. He also emphasized enhancing port-related foreign investment, workforce training, and requested support in handling US exports through Chattogram Port.

The Bangladesh Jewellers Association (BAJUS) has raised gold prices again within 24 hours, setting a new record in the country’s market. In a notice issued late Monday, January 26, 2026, BAJUS announced that the price of 22-carat gold has been increased by Tk 5,249 per bhori, bringing it to Tk 262,440. The new rate will take effect from Tuesday, January 27. The association said the adjustment was made considering the rise in the price of pure gold in the local market.

According to the revised rates, 21-carat gold will cost Tk 250,484 per bhori, 18-carat gold Tk 214,734, and traditional gold Tk 176,593. The previous adjustment was made on January 25, when the price of 22-carat gold was set at Tk 257,191 per bhori after a Tk 1,574 increase. Silver prices have also reached a record high, with 22-carat silver now priced at Tk 7,757 per bhori after a Tk 525 rise.

BAJUS noted that international gold prices have also surged, surpassing USD 5,000 per ounce, following a more than 60 percent increase in 2025.

The Bangladesh Economic Zones Authority (BEZA) has given policy approval to establish the country’s first Free Trade Zone (FTZ) in Anwara upazila of Chattogram. The decision was taken at a BEZA governing board meeting chaired by Chief Adviser Professor Muhammad Yunus in Dhaka’s Tejgaon. BEZA Executive Chairman Chowdhury Ashiq Mahmud Bin Harun said the proposed FTZ will cover about 600 to 650 acres and operate as an offshore territory exempt from customs duties, allowing storage, re-export, and production of goods.

Mahmud explained that the FTZ aims to significantly reduce the time required to supply raw materials to export-oriented industries. Materials such as cotton could be stored within the zone and used instantly by local factories or re-exported to other countries like Vietnam. He cited Dubai’s Jebel Ali Free Zone as a global example, noting its major contribution to Dubai’s GDP. The proposal will now go to the Cabinet for final approval, and legal amendments will be required for implementation.

The BEZA board also approved plans for a Defense Industrial Park in Mirsarai and to convert the Kushtia sugar mill area into a full industrial park under BEZA’s supervision.