The UK’s National Crime Agency has ordered the seizure of two properties belonging to Ahmed Shayan, son of Bangladeshi MP and business magnate Salman F Rahman. One is a luxury apartment at 17 Grosvenor Square, purchased for £6.5 million in 2010. The other is a property in Gresham Gardens, North London, bought for £1.2 million in 2011. According to UK electoral data, Sheikh Rehana once resided at the Gresham Gardens property, though her current residency status is unclear.

Bangladesh Bank Governor Dr. Ahsan H. Mansur stated that the country’s foreign exchange reserves are projected to reach between $27 billion and $30 billion by the end of June. The target for the next fiscal year is to boost reserves to $40 billion. “Microloans cannot be sustained with a 26% interest rate,” he warned. According to central bank data, as of May 19, the country’s total reserves stood at $25.44 billion.

Dr. Mohammad Emdad Ullah Mian, Secretary of the Ministry of Agriculture, announced that mango exports to China mark a new milestone in Bangladesh’s agricultural trade. On May 28, the first shipment—about 50 tons—is scheduled to be sent. The government is also working to export jackfruit and other fruits. He added that farmers are receiving support through various projects and incentives to meet international standards. A centralized management information system is being introduced for all agencies under the ministry, and a long-term plan is in place to ensure safe and nutritious food for all by 2050.

Despite the Eid-ul-Azha holidays, all customs houses and duty stations across Bangladesh will remain operational, ensuring uninterrupted import-export activities. Only Eid day will be observed as a full closure. Eid-ul-Azha is expected to be celebrated on June 6 or 7. The government has declared a 10-day public holiday starting June 5.

According to Bangladesh Bank, looters have depleted nearly Tk 2 trillion in capital from 20 banks over the past 15 years. Beyond hostile takeovers, massive loans were misappropriated. As of Q4 2024 (Oct–Dec), capital shortfalls in these banks reached Tk 1.72 trillion, up from Tk 532.53 billion in Q3. Despite some banks having surplus capital, the net sector-wide deficit now stands at Tk 1.18 trillion. Additionally, total non-performing loans (NPLs) have risen to Tk 3.46 trillion by the end of December 2024.

To pave the way for negotiations aimed at reducing additional U.S. tariffs, Chief Adviser Muhammad Yunus has approved lowering tariffs on at least 100 import items in the upcoming budget. The decision also includes raising the tax-free income threshold, setting the minimum individual tax at Tk 5,000, and increasing the maximum tax rate to 30%. The National Board of Revenue (NBR) believes this move could help reduce the trade deficit with the U.S., especially on state-only purchases such as oil, gas, weapons, fighter jet parts, and missiles. Notably, the U.S. had previously imposed an additional 37% duty, raising total tariffs on Bangladeshi products to 52%.

Bangladesh Bank spokesperson Arif Hossain Khan announced Monday night that the country's foreign exchange reserves have reached $25.44 billion. However, according to the IMF’s BPM6 calculation, usable reserves stand at $20.07 billion. As of May 7, reserves under BPM6 were $20.29 billion, while total gross reserves were $25.67 billion. Earlier, Bangladesh had repaid $1.88 billion in dues to the Asian Clearing Union (ACU).

The US is moving forward with a new law to impose a 5% tax on all remittances sent abroad, under the proposed “One Big Beautiful Bill Act” introduced by Donald Trump. The bill has passed the budget committee and awaits a full congressional vote. While US citizens are exempt, non-citizens—including millions of Indian workers—will be affected. India, the top recipient of US remittances, could suffer significant economic consequences, with $32.9 billion sent from the US in 2023–24 alone.

According to Bangladesh Bank, overseas credit card spending by Bangladeshis fell to Tk 361 crore in March — a 6.25% drop from February’s Tk 503 crore. Spending in India saw a sharp 72.26% year-on-year decline, falling to Tk 27.6 crore from Tk 106 crore in March 2023. Meanwhile, spending rose in the US (Tk 57.4 crore), UK (Tk 36 crore), and Saudi Arabia (Tk 35 crore). Domestic credit card transactions jumped 26.52% in March, reaching Tk 3,755 crore compared to February.

Planning Adviser Dr. Wahiduddin Mahmud has assured that the upcoming national budget will be responsible and sustainable. “It will not burden the next fiscal year,” he said. While the size of the Annual Development Programme (ADP) has been reduced, allocations will be increased in health and education. Around 2,500 doctors and healthcare workers will be recruited, and operating funds for the health sector will be adjusted accordingly. Provisions for repaying teacher welfare dues and other debts have also been included. The budget aims to control inflation, increase revenue collection, reduce foreign debt, improve implementation capacity, and ensure a sustainable economic framework.

Chaired by the Chief Adviser, the National Economic Council (NEC) has approved a Tk 2.3 trillion Annual Development Programme (ADP) for the fiscal year 2025-26—Tk 350 billion less than the previous year. Of the total allocation, Tk 1.44 trillion will come from the government’s own funds, while Tk 860 billion is expected from foreign assistance. An additional Tk 85.99 billion will be contributed by implementing agencies from their own sources, bringing the total ADP size to Tk 2.385 trillion.

Sector-wise allocation includes:

25.64% for transport and communications

14.8% for power and energy

12.42% for education

9.9% for housing and community facilities

7.89% for health

Together, these five sectors account for 69.93% of the total ADP allocation.

India has imposed a ban on the import of Bangladeshi garments through its northeastern land ports. From now on, shipments will only be allowed via Kolkata and Nhava Sheva seaports. Analysts say this move may be even harsher than U.S. tariffs on China. This development follows Bangladesh’s own restrictions, imposed about a month ago, on importing yarn through several land ports including Benapole, Bhomra, Sonamasjid, Banglabandha, and Burimari.

Dr. Salehuddin Ahmed, a former central bank governor and current economic adviser, criticized banks for failing to provide prompt customer service. He cited a recent case where a senior civil servant was kept waiting for an hour because the bank lacked sufficient cash—only to be paid after the branch borrowed money from the central bank. “This is unacceptable. Banks must ensure customers receive timely service,” he said. He stressed the growing importance of card-based transactions and warned that Bangladesh must overcome significant challenges to graduate from LDC status by 2026. Sharing his experience in Europe, he said, “Nobody accepts dollars there—only euros and cards. For businesspeople, credit cards are essential.”

Bangladesh Bank Deputy Governor Dr. Habibur Rahman has said the central bank will intervene if the USD exchange rate increases excessively. “We’ve taken preemptive measures to prevent banks from inflating the rate. Any manipulation will be met with strict action,” he warned.

Economist Anisuzzaman Chowdhury added, “Economic reform doesn’t require drastic changes. Countries like Japan turned their economies around in just 15 years.” He emphasized the importance of coordinated policy implementation. Notably, since allowing market-based dollar pricing two days ago, the market has remained stable with most banks trading around BDT 122 per dollar.

Former U.S. President Donald Trump has urged Apple CEO Tim Cook not to set up manufacturing plants in India. Trump reportedly told Cook, “I don’t want you to build factories in India,” citing concerns over U.S. interests and trade imbalances.

He argued that India is one of the highest tariff-imposing countries in the world, making it a difficult market for American products. Trump added, “India can take care of itself. You can build in India if you want to take care of them. But I don’t want you to build there.”

Trump also criticized Apple's past investments in China, saying the U.S. tolerated it for years, but further offshoring—especially to India—is not something he supports.