Global oil prices rose sharply on Friday following renewed military tensions between the United States and Iran. In early trading in the US market, crude prices increased by up to 3 percent. The latest international market data showed West Texas Intermediate (WTI) crude climbing 2.58 percent, or 2.45 dollars, to reach 97.26 dollars per barrel.

The price surge came after reports of clashes between US and Iranian forces in the strategic Hormuz Strait on Thursday. Iran accused the United States of violating a ceasefire by attacking two of its ships and later bombing civilian areas along its coast. The incident triggered immediate volatility in the global energy market.

Market analysts warned that continued instability in the Hormuz Strait, a key maritime route for global oil transport, could disrupt energy supplies and push prices even higher if tensions persist.

The government has approved a proposal to construct a 12-storey government office building with three basements in Sher-e-Bangla Nagar, Dhaka, at a cost of Tk 108.70 crore. The approval came at a meeting of the Cabinet Committee on Government Purchase chaired by Finance Minister Amir Khosru Mahmud Chowdhury. The proposal, presented by the Ministry of Housing and Public Works, was one of 11 discussed, with one withdrawn by the Power Division.

According to meeting sources, the project titled “Construction of a 12-storey office building with three basements, internal sanitary, water supply and electrification works in the Sher-e-Bangla Nagar administrative area” will be implemented under package W-02 by the Public Works Department. The project, approved by ECNEC on November 9, 2023, will run from January 1, 2024, to December 31, 2026, funded entirely by the government.

Other approvals included importing 20 million liters of refined soybean oil for low-income families, purchasing vehicles for RAB, buying three LNG cargoes, approving additional costs for Jagannath University’s new campus, and sanctioning new power sub-station projects in Dhaka and Mymensingh.

The government of Bangladesh has approved the import of 20 million liters of refined soybean oil from Indonesia to distribute at subsidized prices among low-income families holding Trading Corporation of Bangladesh (TCB) family cards. The decision, costing over Tk 282.57 crore, was approved at a meeting of the Cabinet Committee on Government Purchase chaired by Finance Minister Amir Khasru Mahmud Chowdhury.

According to meeting sources, the procurement will be conducted through international open tender under the Ministry of Commerce. Of the two participating firms, Indonesia-based PT Trinity Chaya Energy was selected as the only technically and financially qualified bidder. The company will supply the oil at USD 1.151 per liter, totaling USD 23.02 million. Including import, transport, and storage costs, the total cost per liter will be Tk 178.56, about Tk 16.44 lower than the current market price of Tk 195.

Officials said the initiative aims to maintain stable edible oil supply and ease cost pressures on low-income consumers. For the 2025–26 fiscal year, TCB has set a target to procure 230 million liters of edible oil, of which 121.68 million liters have already been secured.

The Bangladesh Bridge Authority has recommended introducing a cashless, fast, and transparent toll collection system across all bridges under its jurisdiction. The proposals were presented on Thursday at the authority’s conference room under the ‘Human Resource Development and Capacity Building’ project, where three research papers were discussed. The studies focused on implementing a full electronic toll collection (ETC) system at the Padma Bridge, developing emergency communication protocols, and exploring toll payment through mobile banking.

Key recommendations include appointing a dedicated communication officer for each bridge, adding a live traffic tab to the authority’s website, reducing ETC registration steps from five to two, and enabling online registration. The research also suggested establishing a data-sharing system among BRTA, mobile financial services, and the Bridge Authority, as well as ensuring RFID reader accuracy and operator training. Another study proposed integrating mobile banking wallets with the ETC system for real-time balance checks and payments.

Bridge Secretary Abdur Rouf stated that the government is committed to implementing a fully cashless and automated toll system nationwide as part of building a self-reliant Bangladesh. The recommendations will be reviewed and implemented soon.

The French government is preparing special financial measures to support airlines struggling with rising global jet fuel prices. Transport Minister Philippe Tabarot announced on Wednesday that discussions with airline representatives had made progress on several issues, including extending deadlines for social security payments, easing tax payment schedules, and allowing greater flexibility in fuel transport. The initiative comes as energy market volatility and dependence on Middle Eastern supply chains raise fears of a potential aviation crisis across Europe.

The ongoing conflict involving the United States, Israel, and Iran has disrupted fuel supply systems, putting pressure on European countries to find urgent solutions. Airlines across Europe have warned that if the jet fuel shortage continues, severe supply gaps could emerge within weeks. Experts note that Europe imports about 75 percent of its jet fuel from the Middle East, making the region’s instability a direct threat to the aviation sector.

France’s planned assistance is viewed as a crucial step not only for its domestic airlines but also for maintaining stability in the wider European air transport system.

Commerce Minister Khandaker Abdul Muktadir announced that Bangladesh will transform idle state-owned industries into centers of investment and employment within the next one to two years. Speaking at an event at the Bangladesh-China Friendship Conference Center in Dhaka, he said the government is working to simplify business procedures, reduce logistics costs, and improve port efficiency to make the economy more competitive. He emphasized that old problems must be replaced by practical reforms and swift implementation.

The minister noted that entrepreneurs currently face 25 to 26 types of approvals to start a business, and the government plans to introduce a provisional clearance system to speed up operations. He said logistics costs account for about 16 percent of GDP, compared to the global average of 10 percent, and foreign operators are being engaged to improve port management. A Danish company has already begun operating a container terminal.

Muktadir added that around 90 state-owned industrial enterprises under the industries and textiles ministries will be gradually opened to private investment. He said modernization, new industries, and export-oriented production will be prioritized to boost employment and revenue.

The Bangladesh Energy Regulatory Commission (BERC) has reduced the price of jet fuel by Tk 22 per liter, effective from midnight on Thursday. The new rate for domestic flights has been set at Tk 205.45 per liter, down from Tk 227.08. For international flights, the price has been revised from USD 1.4806 to USD 1.3385 per liter, excluding duties and taxes.

According to the report, this decision follows three consecutive price hikes that had raised the rate by a total of Tk 132 per liter. Earlier in January, the price stood at Tk 94.93 per liter, which increased several times amid rising global fuel prices and the onset of conflict in the Middle East. The last increase in April had pushed the domestic rate to Tk 227.08 per liter.

The latest reduction marks the first downward adjustment in months, reflecting a shift in pricing policy after sustained increases earlier in the year.

Energy company Shell announced a significant profit increase of $1.3 billion in the first quarter of the year, despite global market instability caused by the Iran war. The British energy giant’s financial report showed total earnings of $6.9 billion for the quarter, about one-quarter higher than the same period last year. Refining operations alone contributed nearly $2 billion, driven by high prices of petrol and jet fuel.

The report noted that Shell’s total oil and gas production slightly declined compared to the previous quarter, mainly due to disruptions in Qatar linked to Middle East conflict. Shell CEO Wael Sawan stated that the company achieved strong results despite unprecedented volatility in global energy markets. Analysts said major energy firms’ trading divisions benefited from sharp oil price fluctuations.

Meanwhile, the Energy Poverty Eradication Alliance urged governments to impose a windfall tax on oil companies to offset rising household energy costs caused by the Iran war. The group argued that higher fuel prices have increased pressure on ordinary consumers.

Crude oil transfer from the outer anchorage of Chattogram port to Eastern Refinery began this week, marking the end of a two‑month raw material shortage. The MT Ninemiya, a mother tanker carrying 100,000 tons of crude oil, anchored at Kutubdia Channel on Wednesday. After customs clearance, lighter vessels started unloading the oil for transport to the refinery’s jetty. Eastern Refinery’s managing director confirmed that all units are expected to resume full operation from Friday morning.

According to Bangladesh Petroleum Corporation (BPC), the refinery had been running at limited capacity using remaining stock due to supply disruptions caused by the closure of the Hormuz Strait amid conflict in the Middle East. Eastern Refinery, the country’s only state‑owned oil refinery, imports crude oil from Saudi Arabia and produces 18 types of petroleum products including diesel, octane, petrol, jet fuel, kerosene, and LPG. The Bangladesh Shipping Corporation handles crude oil transportation for BPC.

The last crude shipment arrived on February 17, forcing two of the refinery’s three main units to shut down on April 14. After 22 days of partial closure, full production is set to restart on Friday.

The Bangladesh Atomic Energy Commission has issued a recruitment notice for 130 positions across seven categories. The online application process begins on May 7, 2026, at 10 a.m. and will continue until May 27, 2026, at 5 p.m. Both male and female candidates aged between 18 and 32 years as of May 7, 2026, are eligible to apply. Applicants must submit scanned copies of a 300x300 pixel photograph and a 300x80 pixel signature, and incomplete or late applications will not be accepted.

The positions are temporary and based in Dhaka. Candidates with educational qualifications as low as completion of the eighth grade or SSC pass are eligible to apply. Application fees must be paid through Teletalk pre-paid SIM within 72 hours: BDT 223 for posts 1–3, BDT 112 for post 4, and BDT 56 for posts 5–7. The commission has stated that affidavits will not be accepted as proof of age.

The recruitment notice provides an opportunity for lower-qualified job seekers to apply for government positions within the commission’s administrative framework.

Bangladesh’s Commerce Minister Khandaker Abdul Muktadir met with French Ambassador Jean-Marc Serre-Charlet at the minister’s office in the Secretariat on Thursday. The meeting focused on enhancing a business-friendly environment, expanding investment, improving infrastructure, facilitating trade, and strengthening long-term bilateral partnerships between Bangladesh and France.

During the discussion, Minister Muktadir highlighted that the government is implementing continuous reforms to build a competitive and investment-friendly economic environment. He said initiatives are underway to simplify administrative procedures, digitalize approval processes, and make services faster and more efficient. The minister also emphasized the government’s priority on improving facilities for foreign investors, including easier business registration and service delivery.

Ambassador Serre-Charlet described Bangladesh as an economically promising country in South Asia and expressed interest in expanding French investment. He welcomed the government’s efforts to make the business environment more efficient. The meeting was also attended by Md. Abdur Rahim Khan, acting secretary of the Ministry of Commerce.

The Minister of Civil Aviation and Tourism, Afroza Khanom Rita, announced that Bogura will be developed into one of Bangladesh’s major aviation hubs by utilizing the potential of the northern region. On Thursday, a delegation visited the site to assess the establishment of an international-standard airport, modern airbase, pilot training center, and cargo facilities. The minister said the initiative follows the Prime Minister’s directive and marks the beginning of a large-scale aviation development plan starting from Bogura.

State Minister M. Rashiduzzaman Millat MP stated that the plan includes constructing a 10,500-foot runway to accommodate both domestic and international aircraft. A cargo facility will also be established to support the export of agricultural and industrial products from the northern region. The government aims to expand Bogura Airport to open new opportunities in communication, trade, and aviation.

The inspection team included Air Chief Marshal Hasan Mahmud Khan, Secretary Fahmida Akhter, and senior officials from the ministry and the airport, reflecting high-level coordination in the project’s initial phase.

Import and export activities at the Banglabandha land port in Panchagarh resumed in full swing from 10 a.m. on Thursday. The operations had been suspended for two days due to the announcement of results from the Indian state assembly elections. According to Md. Jahangir Alam, general secretary of the Banglabandha Land Port Importers and Exporters C&F Association, several previously halted goods-laden trucks have now entered the port after receiving clearance from India’s Fulbari customs station.

Alam added that the formation of a new committee at the Fulbari customs station in India may take about a week, which could delay the full restoration of regular trade activities. The resumption marks a return to cross-border trade flow between Bangladesh and India through this key northern land port.

The gradual normalization of operations is expected to ease the backlog of goods and support regional trade once the administrative processes at the Indian customs station are fully completed.

In Kishoreganj’s Austagram upazila, relentless rainfall, upstream floods, and adverse weather have destroyed vast stretches of boro paddy fields, leaving local farmers in despair. Many, including smallholder farmers from Habelipara and Daspara, have seen their crops submerged or spoiled, turning their hopes of a good harvest into financial ruin. Farmer Md. Malek, who cultivated 20 acres on high-interest loans, managed to harvest only a fraction of his crop, with the rest lost under water. The poor quality of the salvaged paddy has further reduced its market value.

Another farmer, Md. Rezaul Islam Rezu, reported similar losses, while on May 2, 2026, farmer Md. Akhtar Hossain of Alinagar village reportedly died of cardiac arrest amid mounting debt and crop failure. Thousands of farmers across Austagram now face the dual burden of natural calamity and loan repayment pressure from moneylenders and NGOs.

The report warns that without urgent government or private assistance, recovering from these losses will be nearly impossible for affected farmers.

The government of Bangladesh has announced a plan to upgrade Bogura Airfield into an international-standard airport to strengthen air connectivity between the northern and northwestern regions and the capital. Civil Aviation and Tourism Minister Afroza Khanam revealed the plan during a visit to the airfield and surrounding areas on Thursday, accompanied by State Minister M. Rashiduzzaman Millat, State Minister for LGRD Mir Shahe Alam, and Air Chief Marshal Hasan Mahmud Khan.

Minister Khanam said the northern region holds significant potential in agriculture, industry, and tourism, and that modern infrastructure is essential for sustainable development. She noted that establishing an international airport would accelerate economic activity, attract investment, expand tourism, and create new employment opportunities.

Air Chief Marshal Hasan Mahmud Khan expressed optimism that the project would enhance both national economic growth and the region’s military and strategic capacity. He added that the Civil Aviation Authority of Bangladesh will take necessary steps to begin commercial flights soon, with full cooperation from the Air Force.