Britain’s economy contracted by 0.1% in April as the Iran war, the wider Middle East crisis and domestic political instability increased pressure on business activity, according to the Office for National Statistics. The figures, published on Thursday, marked the first monthly decline since August last year. Some companies cited the conflict as a factor raising costs and affecting turnover.

The ONS said economic performance was normal over the three months from February to April, with growth up 0.7% from the previous three-month period. March had recorded stronger-than-expected growth. However, growth in administrative and support services, arts, entertainment and recreation fell by 0.2% in April. An ONS official said British firms linked to cancelled Middle East sporting events were also affected, including Formula One Grands Prix planned in Bahrain and Saudi Arabia, as well as tennis and football events.

BBC reporting said the effective closure of the Strait of Hormuz pushed Brent crude as high as $120 a barrel before prices began to fall on hopes the war could end. Higher fuel prices have raised petrol, diesel and household bills in Britain. KPMG UK economist Yael Selfin warned of continued pressure on consumers and businesses, while RSM economist Thomas Pugh said conditions were likely to worsen.

Opposition leader and Jamaat-e-Islami chief Dr Shafiqur Rahman has urged the government to take urgent steps to resolve an ongoing crisis at CNG pumps across Bangladesh. He made the call in a post on his verified Facebook account on Friday morning.

In the post, Rahman said CNG pumps nationwide were facing an unbearable shortage. He said he wanted to see a clear statement and initiative from the government on the matter.

Rahman said urgent measures were needed for a prompt solution and that the crisis could not be resolved through concealment or falsehood. Referring to previous shortages, he said fuel prices had been raised after crises emerged in the past. He added that a similar increase would not be acceptable this time.

An international team of astronomers has identified three active supermassive black holes in the galaxy G0148-4214, more than 12.5 billion light-years from Earth. Led by the Max Planck Institute for Extraterrestrial Physics, the researchers said this is the first evidence of three active black holes in one galaxy in the distant universe. The study was published in Astronomy & Astrophysics.

Two of the black holes are located in the galaxy’s central region, separated by about 620 light-years, while the third lies about 5,500 light-years from the centre. All three are active, drawing in material from surrounding accretion disks. The team identified them through spectral signals from fast-moving hydrogen atoms, using James Webb Space Telescope data and spectro-astrometry to distinguish the close central pair.

The largest black hole has a mass of about 80 million Suns, while the other two are about 600,000 and 2 million solar masses. Researchers estimate the central pair could merge within several hundred million years. With a redshift of 5.02, the galaxy is observed as it was about 1.2 billion years after the Big Bang.

Gen Z students are expanding campus-based climate action through research, innovation and practical projects, according to a report published on August 14, 2026. Initiatives include recycling paper and other waste, developing alternatives to plastic, using renewable energy, and conserving water and electricity. The report says young people are using digital platforms, social media and technology to build environmental awareness and pursue workable solutions.

The report describes climate change as a major global crisis, citing rising temperatures, floods, droughts, sea-level rise and pollution as threats to lives and economies. Experts say government and international action alone is insufficient, and that universities can serve as important spaces for climate-related ideas and technologies. They argue that supporting student research and innovation could produce effective responses to local environmental problems.

The Green Terry Foundation, Smart Campus Cloud Network and Yango Energy have jointly developed University Determined Contributions, or UDCs, modeled on Nationally Determined Contributions. They plan to launch a global movement involving Gen Z students at universities and higher education institutions. Analysts stress the need for research funding, training, laboratory facilities and opportunities to implement successful initiatives.

The AFL-CIO, the largest labor union federation in the United States, said in a report that Tesla chief executive Elon Musk received compensation in 2025 that was about 2.5 million times that of the company’s average worker. The report, cited in an article published on August 14, 2026, put Musk’s total compensation at about $1.583 trillion.

Excluding Musk, the average pay gap between chief executives and workers at leading S&P 500 companies was 312-to-1, up from 285-to-1 in 2024, according to the report. Including Musk, the ratio rose to 5,387-to-1. His compensation pushed average compensation for top executives in 2025 to $341 million, while the figure was $22.8 million without him.

The report said workers’ share of US national income was at its lowest point since World War II, while many Americans faced financial strain over retirement savings, emergency expenses and medical costs. AFL-CIO Secretary-Treasurer Fred Redmond accused CEOs and the Trump administration of manipulating the economy to enrich themselves at the expense of working people. The report also cited President Donald Trump’s 2025 income of about $2.2 billion from multiple sources, including crypto assets.

A severe nationwide gas shortage is worsening load-shedding and disrupting daily life and industrial production in Bangladesh, according to a report published on August 14. Power plants, factories and fertilizer facilities are not receiving gas in line with demand. The Power, Energy and Mineral Resources Ministry said gas supplied to power plants, despite an increase, remains 60 percent below demand. On Thursday, electricity supply was 3,500 megawatts short of demand.

Gas-fired power plants have capacity of slightly more than 12,000 megawatts, but even with additional gas they supplied at most 5,000 megawatts to the national grid on Thursday. Gas is being diverted from industries to power plants, yet load-shedding has not been eliminated. BKMEA President Mohammad Hatem said 70 percent of member factories reported gas and electricity problems. Ashuganj Fertilizer and Chemical Company has remained fully shut for a long time, with officials reporting losses exceeding Tk100 crore a month.

Households in Brahmanbaria and Cumilla have turned to clay stoves, cylinders and other fuels as cooking gas supplies failed. Residents in rural Sunamganj alleged power is unavailable for 17 hours a day. Minister Iqbal Hasan Mahmud said load-shedding management and waiting were the only options until floating LNG terminals are repaired, while the government has initiated plans for three more LNG terminals.

Global crude oil prices rose on Friday as growing military tensions involving Iran renewed concerns over supply disruptions. At 1:30 a.m. Greenwich Mean Time, Brent crude was up 9 cents, or 0.1%, at $87.16 a barrel, while West Texas Intermediate gained 4 cents to $81.29. Supply worries intensified after the United States threatened to maintain a naval blockade on Iran indefinitely.

The Strait of Hormuz remains central to market concerns. Hossein Taieb, head of Iran’s Basij paramilitary force, said the strategic waterway was under the Islamic Republic’s management and control, according to the semi-official Fars news agency. The UAE’s state news agency WAM said two Abu Dhabi National Oil Company vessels were attacked while passing through the strait on Thursday evening, and the UAE government blamed Iran.

Demand concerns are limiting the price increase. OPEC and the International Energy Agency lowered their forecasts for global oil-demand growth this week, while US crude inventories posted their largest weekly increase in more than three and a half years. KCM chief market analyst Tim Waterer said supply concerns supported prices, but weaker demand expectations prevented sharper gains.

Shipping, Road Transport and Bridges, and Railways Minister Sheikh Rabiul Alam said the foundation stone for Chattogram Port’s Laldia Container Terminal will be laid on August 30 with Danish cooperation. He made the announcement at a Thursday morning meeting at the Ministry of Shipping with a delegation from Denmark-based APM Terminals. The minister described the project as a modern, environmentally friendly green terminal.

Alam said advanced technology would be used at the terminal, with cranes operated remotely from an office to improve efficiency and safety. He also said women’s active participation would be ensured in the project, opening a new avenue for inclusive employment in the port sector.

The minister said an international-standard terminal would increase Chattogram Port’s capacity and contribute to jobs, trade expansion and the national economy. APM Terminals delegates thanked the government for cooperation on port and terminal infrastructure development and discussed using modern technology, management expertise and international experience in Bangladesh’s port sector, including at Laldia. Ministry Secretary Zakaria, the Chattogram Port Authority chairman, senior ministry officials and APM Terminals’ CEO attended the meeting.

Power Minister Iqbal Hasan Mahmud Tuku said Bangladesh has no immediate option beyond counting the days and managing load-shedding until repairs to a floating LNG terminal, or FSRU, are completed. He made the remarks while joining an event organised online by the Centre for Policy Dialogue on Thursday.

The minister said engineers are working to fix the FSRU fault. He said that, apart from waiting for the work at the terminal, authorities are trying to manage the situation so that load-shedding can be reduced as much as possible.

Tuku also said the management effort includes supplying gas to industries. He told the event that Bangladesh will install three new floating LNG terminals by 2029.

Power Minister Iqbal Hasan Mahmud Tuku said Bangladesh has no immediate option beyond counting the days and managing load-shedding until repairs to a floating LNG terminal, or FSRU, are completed. He made the remarks while joining an event organised online by the Centre for Policy Dialogue on Thursday.

The minister said engineers are working to fix the FSRU fault. He said that, apart from waiting for the work at the terminal, authorities are trying to manage the situation so that load-shedding can be reduced as much as possible.

Tuku also said the management effort includes supplying gas to industries. He told the event that Bangladesh will install three new floating LNG terminals by 2029.

Bangladesh and Saudi Arabia have signed a new memorandum of understanding on air services, increasing authorized weekly passenger flights between the countries from 49 to 84. The Bangladesh Civil Aviation Authority chairman, Air Vice Marshal Md Mostafa Mahmud Siddiq, announced the agreement at a Thursday press conference at the authority’s headquarters. The arrangement also allows 21 weekly cargo flights and includes fifth-freedom traffic rights, code-sharing, co-terminalization and aircraft leasing opportunities.

The additional 35 weekly passenger flights are intended to help meet growing travel demand, according to the chairman. He said about 4 million Bangladeshis living and working in Saudi Arabia would benefit from increased flights and seat capacity. Hajj and Umrah travellers are also expected to benefit, particularly during the Hajj season when passenger pressure and seat shortages can arise. Greater airline competition could give passengers access to more competitive and affordable fares, he said.

The agreement creates scope to expand services from Chattogram and Sylhet to Riyadh, Dammam, Madinah and Jeddah. Cargo provisions could speed exports including garments, fresh vegetables and fruit to Saudi markets. Designated Bangladeshi airlines may also operate cargo services via Saudi Arabia to specified destinations including Spain and Germany.

Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmud Tuku said Bangladesh’s electricity demand has suddenly increased because of illegal battery-powered auto-rickshaws. Speaking to journalists on Thursday, he said a large number of battery-run auto-rickshaws operate across the country and nearly all are charged at night.

The minister said most electricity connections used to charge these vehicles are illegal. Authorities are conducting drives to disconnect such connections, but face protests during these operations, he said. He also said power department workers have been attacked while carrying out enforcement activities. Tuku urged people not to spread rumours about oil.

He said the government plans to establish three more terminals to increase LNG supply. An order for one terminal was placed 10 to 12 days earlier, he said, while an initiative has also been taken to set up another LNG terminal in the Mongla-Hiron Point area. He said the government is making its utmost effort to resolve electricity and gas problems, and blamed the previous Awami League government for bringing the energy sector to its current crisis situation over 17 years.

German container shipping giant Hapag-Lloyd said it suffered a $600 million loss in the second quarter because the Strait of Hormuz remained closed amid conflict in the Middle East. The report, published on August 13, 2026, said the closure created significant financial pressure for one of the world’s leading container shipping companies.

On Thursday, the company said its net profit fell to $83 million from $306 million a year earlier. Hapag-Lloyd said strong exports from Asia and improved demand in the United States partly offset losses caused by instability in the Middle East.

The strait’s closure increased costs for bunker fuel, insurance, storage, rerouting and inland transport. As a result, operating profit in Hapag-Lloyd’s liner shipping division declined to $153 million from $167 million. The source did not state any further company measures or provide a new outlook.

Iran has demanded compensation for pollution accumulated over recent decades in the Persian Gulf and nearby waters. Foreign Ministry spokesman Esmail Baghaei made the demand in a post on X on August 13, saying parties that profit from commercial shipping through the Strait of Hormuz have legal and moral responsibility to address environmental damage in the Persian Gulf and Gulf of Oman.

On Wednesday, a thick black layer of oil washed onto a beach on Iran’s Qeshm Island near the Strait of Hormuz. A CNN video verified through geolocation showed the oil spreading. Baghaei described the incident as only one visible example of pollution, saying the waters and marine ecosystem of the Persian Gulf and Gulf of Oman have suffered extensive and long-term contamination for decades.

Baghaei said damage to Iran’s coastal areas has reached trillions of dollars. He questioned whether compensation should come from countries using cheap energy, shipping insurance companies, or countries and allies he said had turned the two waterways into sites for military operations and tests of weapons of mass destruction. Oman’s environmental authority said oil from a sanctioned tanker carrying Russian crude had also reached beaches in Ras Madrakah.

A meeting between Prime Minister Tarique Rahman and representatives of 25 US companies was highly productive and effective, according to Dr Mahdi Amin, an adviser to the prime minister and spokesperson for the Prime Minister’s Office. He made the remarks after a US-Bangladesh Business Council delegation met at the Prime Minister’s Office at 9:30am on Thursday.

The meeting discussed Bangladesh-US trade relations and their potential, the report said. Amin said Bangladesh was moving toward a future as a self-reliant and prosperous country. He did not provide details of any agreement, investment commitment, or specific project arising from the discussion.

The delegation was led by Oliver Simpson, senior vice president of the Business Council and chief commercial officer of Excelerate Energy, and Atul Keshap, president for South Asia at the US Chamber of Commerce. Former US ambassador Peter Haas, diplomat Nisha Desai and Business Council members also attended. On August 12, the delegation paid a courtesy call on Humayun Kabir, the prime minister’s foreign affairs adviser.