Business - The Daily Ittefaq

Trump Weighs New 7.5% Tariff on China Over Cheap Exports

Click Ittefaq Desk — Tue, 25 Aug 2026 14:28:30 +0600

US President Donald Trump is considering imposing a new 7.5% tariff on Chinese goods, accusing Beijing of flooding global markets with cheaply priced products, according to people familiar with the matter. Two of three people who spoke to The Associated Press on condition of anonymity said the proposed tariff is being considered at a level that officials believe would not threaten the current... Details

MCAB sets new USD buy-sell rates for money exchanges

UNB — Tue, 25 Aug 2026 09:33:49 +0600

The Money Changers Association of Bangladesh (MCAB) has set new exchange rates for buying and selling US dollars in the open market to maintain stability and curb exchange rate fluctuations. Under the new rates announced on Monday, authorized money exchanges across the country will purchase the US dollar at Tk 125.50 and sell it at Tk 126.50. MCAB President MS Zaman officially announced the... Details

Oil falls as Trump pledges economic war on Iran

BSS — Mon, 24 Aug 2026 11:26:05 +0600

Oil prices fell on Monday as investors braced for details of a US plan to isolate the Iranian economy that President Donald Trump billed as the "most crushing" financial operation ever against Tehran. Asian stocks were mostly down in early trading, with South Korea's tech-rich Kospi falling 1.4 percent after Samsung Electronics said it spent a massive $80 billion to buy back its own shares... Details

Bangla QR transactions cross Tk 110cr daily

BSS — Sun, 23 Aug 2026 21:13:46 +0600

Transactions through Bangla QR have almost doubled in number and nearly tripled in monetary value since the introduction of the mandatory "One Country, One QR" system in Bangladesh. From July 1, 2026, Bangladesh made it mandatory to replace all proprietary QR codes with a single Bangla QR under the "One Country, One QR" initiative, said a press release here today. At the... Details

Invest Bangladesh begins journey

UNB — Sun, 23 Aug 2026 11:52:34 +0600

Invest Bangladesh officially started operations on Sunday following the publication of the gazette notification under the Invest Bangladesh Act, 2026. Formed through the merger of the Bangladesh Investment Development Authority (BIDA), the Bangladesh Economic Zones Authority (BEZA), and the Public-Private Partnership Authority (PPPA), the new entity now serves as the country’s apex... Details

Trump announces temporary tariff relief on ground beef imports

BSS — Sat, 22 Aug 2026 11:23:18 +0600

President Donald Trump announced Friday that the United States would temporarily allow a greater volume of foreign beef imports, in his latest bid to lower costs for American consumers as midterm elections approach. The US cattle herd has shrunk to its smallest size since the 1950s -- in part due to drought and international competition -- with the diminishing numbers pushing beef product... Details

Alibaba profit plunges 75% as AI investment surges

UNB — Fri, 21 Aug 2026 15:22:22 +0600

Chinese technology giant Alibaba reported a 75% fall in quarterly profit on Thursday as the company increased spending on artificial intelligence infrastructure, despite strong growth in its AI-related services. Alibaba, which is listed in Hong Kong and the United States, said its profit for the April-June quarter fell to 10.5 billion yuan ($1.6 billion), from 43.1 billion yuan ($6.4 billion)... Details

Trump pauses new tariffs on Canada for 3 days, saying deal close

Click Ittefaq Desk — Wed, 19 Aug 2026 23:03:54 +0600

US President Donald Trump said he will delay imposing new tariffs on a wide array of Canadian goods for three days as the countries firm up a trade deal. "I have paused the 50% Tariffs against Canada, that were scheduled to kick in tomorrow morning for a three day period, based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL!" Trump said in a... Details

UAE suspends all trade, financial transactions with Iran

Click Ittefaq Desk — Wed, 19 Aug 2026 14:43:52 +0600

The UAE has halted all trade, commercial exchanges and financial transactions with Iran until further notice, the Ministry of Foreign Affairs (MoFA) said. The announcement comes amid escalating regional tensions and follows allegations about the status of the UAE’s economic relationship with Iran, reports the Gulf News. UAE rejects claims over economic ties Afra Al Hameli, Director of... Details

Bangladesh's forex reserves hit $37.24bn

UNB — Tue, 18 Aug 2026 23:20:37 +0600

Remittance inflow to Bangladesh rose 21.6 percent year-on-year to $4.74 billion in the first 48 days of the current fiscal year, while the country's gross foreign exchange reserves stood at $37.24 billion on Tuesday. According to Bangladesh Bank data, the country received $4.74 billion in remittances between July 1 and August 17, 2026, compared with $3.90 billion during the corresponding... Details

BB revises Sukuk allocation rates for investors

BSS — Mon, 17 Aug 2026 19:36:41 +0600

Bangladesh Bank (BB) has revised the allocation rates of Sukuk among different categories of investors to ensure wider participation in the Islamic securities market. According to a circular issued by the central bank today, the revised allocation policy will apply to Sukuk issued by the government and other eligible entities. Under the new arrangement, 50 percent of an issued Sukuk will be... Details

Surplus liquidity in banking sector hits Tk 4 lakh crore

UNB — Mon, 17 Aug 2026 09:33:56 +0600

Excess liquidity in Bangladesh's banking sector reached an all-time high, crossing Tk 4.08 lakh crore at the end of June 2026, driven by rising bank deposits and a distinct reluctance among entrepreneurs to take new loans for business expansion or establishing industrial plants. Central bank data shows that deposit growth in the banking sector stood at 10.74 percent in June, whereas credit... Details

BB relaxes cash margin requirement for fruit imports

BSS — Sun, 16 Aug 2026 18:04:17 +0600

Bangladesh Bank (BB) has relaxed the cash margin requirement for opening letters of credit (LCs) for fruit imports, replacing the existing 100 percent cash margin requirement with a margin to be determined by banks based on their relationship with customers. The central bank issued the instruction in a circular today, saying the move was aimed at facilitating fruit imports, ensuring adequate... Details

BB consolidates foreign exchange rules for import trade

UNB — Thu, 13 Aug 2026 17:05:03 +0600

The Bangladesh Bank (BB) has streamlined foreign exchange regulations governing import trade, aiming to simplify procedures and align them with contemporary business needs. The central bank issued a new consolidated circular on Thursday, bringing together various directives issued over the past year into a single framework. The move is expected to facilitate international trade by making... Details

Oil prices rise, stocks mixed ahead of crucial US inflation data

BSS — Wed, 12 Aug 2026 12:01:28 +0600

Oil prices rose again Wednesday and stock markets were mixed, with eyes on the release of key US inflation data that could guide the Federal Reserve on its plans for interest rates. Traders trod nervously ahead of the consumer price index (CPI) figures, which follow a report last week showing the world's top economy lost more than 20,000 jobs last month, suggesting the labour market was... Details

PM welcomes Visa’s investment in digital economy

UNB — Tue, 11 Aug 2026 14:31:02 +0600

Prime Minister Tarique Rahman on Tuesday welcomed greater private-sector partnership in Bangladesh’s digital financial services and technology sectors as Visa expressed interest in expanding its investment and business operations in the country. Visa Asia-Pacific President Stephen Karpin paid a courtesy call on the Prime Minister at the Cabinet Division at the Bangladesh Secretariat... Details

Oil prices steady after 5% jump

UNB — Tue, 11 Aug 2026 11:56:20 +0600

Oil prices remained largely unchanged Tuesday after rising 5% in the previous session, as uncertainty continued over when the Strait of Hormuz might reopen and allow crude shipments to resume normally. US stock futures edged higher in early trading. Brent crude was unchanged at $87.72 a barrel, while US benchmark West Texas Intermediate also remained flat at $82.13 a barrel. Brent prices... Details

Trump media company reports massive loss

UNB — Tue, 11 Aug 2026 09:30:20 +0600

President Donald Trump's media company reported a massive loss in the second quarter and announced plans to abandon several new business ventures and refocus on its core mission as a social media platform. Trump Media & Technology, which operates the Truth Social platform, said Monday it lost $238 million in the three months through June after expanding into businesses outside traditional... Details

Bangla QR transactions near Tk 1,500cr since July 1

BSS — Mon, 10 Aug 2026 15:35:18 +0600

Transactions through the interoperable Bangla QR payment system have reached nearly Tk 1,500 crore through around 56 lakh transactions since July 1, signalling a rapid shift in payment behaviour and growing acceptance of digital transactions across the country. A senior Bangladesh Bank (BB) official told BSS that Bangla QR transactions have maintained strong momentum since the central... Details

Surprise fall in US jobs last month as slow summer continues

Click Ittefaq Desk — Sat, 08 Aug 2026 16:06:07 +0600

The US economy is creating fewer jobs than expected with the employment market performing weaker during the summer than previously thought, official figures show. There was a surprise shedding of 23,000 jobs last month, with declines driven by cuts in local government education and retail roles, despite analysts predicting growth, BBC reports. The Bureau of Labor Statistics also revised down... Details

Korean companies see prospect of upgrading RMG industry

BSS — Fri, 07 Aug 2026 11:31:35 +0600

South Korean companies see significant investment opportunities in upgrading Bangladesh's ready-made garment (RMG) industry. Bangladesh’s RMG may enhance value addition and strengthen the country's global competitiveness by expanding the use of man-made fibres (MMF), functional textiles, automated sewing equipment and garment accessories Talking to BSS, Deputy Director of the Korea... Details

BB takes 18-month action plan to tackle soaring NPLs

UNB — Thu, 06 Aug 2026 18:19:43 +0600

Around 36 percent of the total loans disbursed in the country's banking sector are currently non-performing, posing a major risk to the financial sector, Bangladesh Bank (BB) Governor Md Mostaqur Rahman said on Thursday. To tackle the crisis, the central bank has adopted an 18-month special action plan aimed at reducing non-performing loans (NPLs) and stabilising the banking sector, he said... Details

Oil prices fall on hopes of Hormuz reopening

Click Ittefaq Desk — Tue, 04 Aug 2026 23:24:25 +0600

Oil prices fell to a three-week low on Tuesday as senior US officials raised hopes of a deal with Iran to reopen the key Strait of Hormuz waterway. US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent both announced talks had progressed to allow shipments to potentially resume as soon as this week, BBC reports. The cost of a barrel of brent crude, the global benchmark for... Details

Green chilli import from India begins via Hili Land Port

BSS — Tue, 04 Aug 2026 07:48:31 +0600

Imports of green chillies from India through Dinajpur's Hili Land Port resumed today after a gap of more than eight months, raising hopes of easing the prices in the domestic market. “Three Indian trucks carrying green chillies entered Bangladesh through the port at around 4:30 pm,” said Hili Land Port Importers and Exporters Association President Md Sakhawat Hossain Shilpi. The impact of the... Details

RMG exports rebound to $3.88bn in July despite YoY dip

UNB — Mon, 03 Aug 2026 23:07:45 +0600

Bangladesh's ready-made garment (RMG) exports began fiscal year 2026-27 with a strong month-on-month rebound, rising 14.73 percent to US$3.88 billion in July from $3.38 billion in June, although earnings were slightly lower than a year earlier, according to the latest data from the Export Promotion Bureau (EPB). The July export earnings were 1.92 percent lower than the $3.96 billion recorded... Details

Oil prices fall nearly 5% after US announces new Iran talks

BSS — Mon, 03 Aug 2026 14:28:44 +0600

Oil prices tumbled on Monday in early Asia trade after US President Donald Trump announced fresh talks with Iran to end the Middle East war and reopen the Strait of Hormuz. The war, which began in late February when the United States and Israel attacked Iran, has caused oil prices to swing sharply as it effectively closed the waterway, a vital route for global oil and gas supplies. At around... Details

OPEC+ tipped to raise production again but new quotas loom

BSS — Sun, 02 Aug 2026 10:13:02 +0600

Saudi Arabia, Russia and five other members of OPEC+ are expected to raise their oil production quotas for September when they meet online Sunday as the Middle East war continues to disrupt global energy supplies. The enlarged Organisation of the Petroleum Exporting Countries will likely increase production by 188,000 barrels per day, following several months of similar hikes, said Jorge Leon,... Details

US economic growth sees surprise slowdown in 2nd quarter

Click Ittefaq Desk — Thu, 30 Jul 2026 23:35:22 +0600

There was a surprise slowdown in US economic growth in the three months to June despite an increase in consumer spending, according to official figures. The Commerce Department said the US economy grew at an annual rate of 1.5% in the second quarter, down from 2.1% seen in the first three months of the year. Analysts had forecast growth to remain around 2%, BBC reports. It comes as the... Details

BB launches Tk 2,000cr pre-finance scheme for leather sector

UNB — Thu, 30 Jul 2026 21:01:23 +0600

Bangladesh Bank (BB) has formed a revolving pre-finance scheme worth Tk 2,000 crore to foster the development, sustainability and international competitiveness of the country’s leather and leather goods sector. The central bank issued a circular, signed by Director of its Banking Regulation and Policy Department (BRPD) Gazi Md Mahfuzul Islam, on Thursday, outlining the operational... Details

Crude jumps on fresh Mideast flare-up, tech rout deepens

BSS — Wed, 29 Jul 2026 10:45:30 +0600

Oil prices spiked Wednesday after a fresh flare-up of fighting in the Middle East that revived fears over supplies through the Strait of Hormuz, while chip firms continued to bleed as nervous investors unwound their bets on the AI boom. Traders are also keeping a nervous watch on the Federal Reserve's policy decision later in the day, with some observers warning the US central bank could... Details

Oil price dives as US and Iran pause attacks

Click Ittefaq Desk — Mon, 27 Jul 2026 21:26:28 +0600

The price of oil has fallen sharply on hopes that a pause in attacks between the US and Iran could help to de-escalate the conflict. Brent crude, the global benchmark for oil, sank more than 9% to $87.59 a barrel at one point, marking a sharp turnaround from last week when it had risen above $100, reports the BBC. The fall came after the US ambassador to the UN said attacks on Iran had been... Details

CEIZ to open new horizon in economy: Khosru

BSS — Mon, 27 Jul 2026 18:15:09 +0600

Finance and Planning Minister Amir Khosru Mahmud Chowdhury has said the China Economic and Industrial Zone (CEIZ) in Anwara, Chattogram is expected to attract investments over one billion US dollars. He emphasized that this initiative will positively influence not only Anwara but also the broader Chattogram economy, paving the way for new industrialization opportunities. He... Details

Oil down over 5% on renewed hopes for US-Iran deal

UNB — Mon, 27 Jul 2026 08:59:30 +0600

Oil prices eased in early trading Sunday, falling further from a two-month high set last week, after the United States and Iran refrained from launching military strikes in the Persian Gulf for a second straight day. The price for a barrel of Brent crude oil to be delivered in September dropped 4.9% to $92.02 shortly after trading resumed. The decline followed a 3.9% drop on Friday. Brent... Details

Govt sets $63.4bn export target for FY27

BSS — Sun, 26 Jul 2026 18:24:00 +0600

The government has set export earnings target of US$63.4 billion for the current fiscal year (FY2026-27), aiming to achieve 15 percent growth in exports of both goods and services. Commerce Minister Khandakar Abdul Muktadir today announced the target at a press briefing held at the Ministry of Commerce conference room in the city. Of the total export target, $55.2 billion is expected to come... Details

Iran says it sold $18 bn of oil during war, ceasefire

BSS — Sun, 26 Jul 2026 09:22:37 +0600

Iran's oil ministry on Saturday said it was able to sell a total of $18 billion worth of oil during the war and the ensuing ceasefire with the United States. "The ministry sold $11.5 billion of oil during the war and $6.5 billion during the ceasefire" that collapsed earlier this month, the ministry said in a statement carried by its official website. "This covers more than 60 percent of the... Details

Why Trump's 'forced labor' tariffs leave the world puzzled

Click Ittefaq Desk — Sat, 25 Jul 2026 15:04:16 +0600

After the US Supreme Court struck down Donald Trump's emergency tariffs, the White House has turned to another trade law linked to alleged human rights abuses. Which countries will face Trump's new tariffs? The Trump administration on Thursday announced new tariffs on 60 economies, including the European Union, citing their handling of imported goods made with forced labor, according to a... Details

China hits travel giant Trip.com with $765 million penalty

BSS — Sat, 25 Jul 2026 11:18:43 +0600

China's market regulator said Saturday it had fined and confiscated 5.18 billion yuan ($765 million) from the country's largest online travel provider Trip.com Group for violating monopoly laws. Beijing has previously taken tough regulatory action on major internet companies over monopoly charges, notably launching an aggressive crackdown on tech and e-commerce giant Alibaba in late 2020.... Details

Groundbreaking ceremony of Chinese EZ to be held in Ctg on Monday

BSS — Fri, 24 Jul 2026 21:46:07 +0600

The groundbreaking ceremony of the Chinese Economic and Industrial Zone (CEIZ) will be held at Anwara in Chattogram on Monday, marking the formal launch of one of the Bangladesh's largest foreign investment projects aimed at accelerating industrialisation and strengthening economic cooperation with China. Finance Minister Amir Khosru Mahmud Chowdhury is expected to attend the ceremony as the... Details

Bangladesh faces fresh US tariffs

Click Ittefaq Desk — Fri, 24 Jul 2026 11:19:37 +0600

The Trump administration is set to impose new tariffs on products from 60 countries, including Bangladesh, alleging that these countries have failed to strictly enforce laws banning forced labor. The decision, which takes effect on Friday, introduces tariffs ranging from 10% to 12.5%, depending on the country. The White House announced the move immediately after the expiration of a temporary... Details

Oil prices hit $100 for the first time since May

Click Ittefaq Desk — Thu, 23 Jul 2026 20:35:01 +0600

Oil prices hit $100 a barrel for the first time since May as the escalating conflict in the Middle East reignited fears over global energy supplies. Brent crude - the global benchmark for oil prices - rose more than 5% on Thursday after several days of increases as the US stepped up military strikes against Iran, BBC reports. Prices spiked after Houthi militia attacked oil tankers in the... Details

Tesla shares fall as Musk touts ambitious and costly plans

BSS — Thu, 23 Jul 2026 19:08:48 +0600

Tesla reported weaker-than-expected quarterly profits on Wednesday despite increased auto sales, depressing shares in after-hours trading amid questions over massive capital spending plans. Elon Musk's fast-growing electric vehicle maker reported second-quarter profits of $1.1 billion, down about five percent from the year-ago level. That translated into 33 cents per share compared with... Details

Google burning through cash with spiralling AI costs

Click Ittefaq Desk — Thu, 23 Jul 2026 12:03:08 +0600

Google parent Alphabet saw its business continue to grow in recent months, yet growing spending on artificial intelligence (AI) infrastructure put its leftover cash into negative territory. The company's free cash flow, the cash it maintained after paying for operations and investments, came in at negative $5.9bn (£4.3bn) for the first time in at least a decade, according to its past... Details

BB doubles exporters' retention quota to 15pc

BSS — Wed, 22 Jul 2026 19:12:59 +0600

Bangladesh Bank (BB) has doubled the Exporters' Retention Quota (ERQ) for merchandise exporters of goods with high import content, raising the permissible retention limit from 7.5 percent to 15 percent of the repatriated Free on Board (FOB) value. The decision was announced through FEPD-1 Circular No. 23 issued today by the Foreign Exchange Policy Department (FEPD)-1 of the central bank.... Details

Brent crude passes $92 a barrel, highest price since June

BSS — Wed, 22 Jul 2026 09:21:18 +0600

Oil rose in Asian trade Wednesday, with Brent crude hitting its highest price in more than a month, as Iran targeted US radar and air defence installations in the Gulf. Brent crude was trading up 1.2 percent at $92.09 a barrel at around 0130 GMT, its highest intraday price since June 11. West Texas Intermediate (WTI), the main US oil benchmark, climbed 1.1 percent to $85.23. Iran stepped up... Details

BB issues new ICMS guidelines for banks

BSS — Tue, 21 Jul 2026 19:36:32 +0600

Bangladesh Bank (BB) has issued comprehensive Guidelines on the Internal Control Management System (ICMS) for all scheduled banks, replacing the decade-old Internal Control and Compliance (ICC) guidelines introduced in 2016. The new framework, issued by the Banking Regulation and Policy Department-2 (BRPD-2) under Section 45 of the Bank Company Act, 1991 (amended up to 2023), took... Details

Panama, China renew maritime port agreement

BSS — Tue, 21 Jul 2026 14:52:30 +0600

Panama announced on Monday an agreement with China to renew a maritime shipping treaty that grants advantages to Panamanian ships in Chinese ports. The agreement comes as Panama complains its boats are suffering tighter controls in China, following the cancellation of a Hong Kong company's concession to operate two ports in the Panama Canal. Following negotiations in Beijing last week, the... Details

Trump slaps 50% tariff on many Canadian goods

BSS — Tue, 21 Jul 2026 23:35:36 +0600

US President Donald Trump signed orders Monday to impose new 50-percent tariffs on many Canadian goods, claiming "discriminatory treatment" by Ottawa against American alcohol, automobile and dairy products. The tariffs take effect in 30 days and cover various items including wine, hockey sticks and cement, said the White House. Trump, who saw many of his tariffs struck down by the Supreme... Details

EU fines AliExpress €550m for allowing sale of illegal goods

Click Ittefaq Desk — Mon, 20 Jul 2026 22:59:53 +0600

Chinese online retail giant AliExpress has been fined a record €550m (£467m) by the EU for allowing the sale of illegal products such as unsafe toys and fake clothes. The European Commission said AliExpress has fallen short of its legal obligations "diligently assess" the risk of illegal, unsafe or fake goods on its platform, BBC reports. "The spread of counterfeit clothing, unsafe... Details

Brent oil tops $90 as US, Iran intensify attacks in Middle East

Click Ittefaq Desk — Mon, 20 Jul 2026 09:32:21 +0600

Oil prices jumped 3% on Monday, with Brent surpassing $90 a barrel, as the United States and Iran expanded attacks in the Middle East that have curbed energy shipments ‌in the Strait of Hormuz. Brent crude futures climbed $2.69, or 3.05%, to $90.79 by 2343 GMT, touching the highest since June 11, extending gains after rising 15.9% last week, its biggest weekly gain since April,... Details

Betel farming brings fortunes for three Naogaon villages

UNB — Sat, 18 Jul 2026 10:48:58 +0600

What was once a farming community dependent on seasonal rice cultivation has evolved into a thriving hub of commercial betel leaf production, bringing prosperity and optimism to hundreds of families in three villages of Naogaon. For many farming families in Jalm, Magura and Jageshwar, the vibrant green betel gardens symbolise more than agricultural success—they represent financial... Details

Bangladesh RMG exports to EU slump 19% in Jan-May

UNB — Thu, 16 Jul 2026 23:13:22 +0600

Bangladesh’s apparel exports to the European Union (EU) slumped by 18.89 percent year-on-year to €7.28 billion ($8.33 billion) in the first five months of 2026 (January-May), marking the steepest decline among the region's major global suppliers. Maps According to Eurostat data analysed by Mohiuddin Rubel, founder and CEO of Bangladesh Apparel Voice, the country is facing a... Details

External borrowing rules for foreign-owned industries eased

UNB — Wed, 15 Jul 2026 16:10:34 +0600

Bangladesh Bank has granted general permission for fully foreign-owned industrial enterprises, operating both within and outside specialised economic zones, to borrow directly from their parent companies, associates, or shareholders abroad, in a move aimed at easing access to finance for foreign investors. The central bank's Foreign Exchange Investment Department (FEID) issued the directive... Details

China economic growth falls sharply, missing target

Click Ittefaq Desk — Wed, 15 Jul 2026 10:02:01 +0600

China's economic growth slowed sharply between the start of April and end of June as weak domestic demand and the Iran war's impact on oil prices overshadowed the country's strong exports. Official gross domestic product (GDP) figures showed the world's second largest economy grew in the second quarter by 4.3%, below Beijing's annual target, and after a 5% rise in the first quarter, BBC... Details

Trump reverses Strait of Hormuz fee plan

UNB — Tue, 14 Jul 2026 22:56:55 +0600

U.S. President Donald Trump on Tuesday abandoned plans to impose fees on ships using the Strait of Hormuz, saying Gulf nations would instead boost investment in the United States, as renewed U.S. strikes on Iran and Iranian attacks on shipping and American allies further undermined an interim peace agreement. The temporary deal had been expected to reopen the strategic waterway, a vital route... Details

Oil prices jump above 3.5% on renewed US-Iran fighting

BSS — Mon, 13 Jul 2026 13:12:05 +0600

Oil prices opened sharply higher on Monday after the United States launched a wave of attacks on Iran and as Tehran announced it would close the Strait of Hormuz. A barrel of international benchmark Brent crude for September delivery rose 3.75% to $78.86 at around 2210 GMT on Sunday. US benchmark West Texas Intermediate rose 3.65 percent to $74.02 per barrel for August delivery. Details

US tariff move raises alarm for Bangladesh: ADB

Click Ittefaq Desk — Fri, 10 Jul 2026 12:18:11 +0600

Preparations by the United States to impose additional tariffs under Section 301 of its trade law have emerged as a major concern for Bangladesh’s export sector, according to the Asian Development Bank (ADB) in its latest report, Asian Development Outlook, July 2026. The ADB warns that the move would not only increase trade costs but also create long-term uncertainty across the Asian... Details

Oil prices climb sharply after US strikes Iran

UNB — Wed, 08 Jul 2026 12:15:01 +0600

Oil prices climbed sharply on Wednesday after fresh military action by the United States against Iran reignited concerns over supply disruptions, erasing the recent decline that had returned crude prices to pre-conflict levels. Brent crude, the global benchmark, gained as much as 3 percent, with September futures reaching $76.07 a barrel by 04:00 GMT, their highest level since June 23. The... Details

Bangladesh RMG exports slip 1.64% to $38.70bn in FY26

UNB — Tue, 07 Jul 2026 22:54:11 +0600

Bangladesh’s readymade garment (RMG) exports registered a slight year-on-year decline of 1.64 percent, totalling US$ 38.70 billion for the fiscal year 2025-26 from $39.34 billion in FY2024-25, according to recent data from the Export Promotion Bureau (EPB). The export performance highlights shifting trends across major global destinations, featuring an erosion in the European Union (EU)... Details

Microsoft cuts 4,800 jobs and shrinks Xbox

Click Ittefaq Desk — Tue, 07 Jul 2026 08:00:16 +0600

Microsoft has announced it has cut 4,800 jobs - roughly 2.1% of its workforce - with Xbox to bear a large number of its latest layoffs. Amy Coleman, executive vice president at Microsoft, told employees in a memo that the tech giant needed to focus on areas that can deliver for customers amid a "fast-changing industry". The sweeping layoffs will see more than 1,600 roles immediately axed at... Details

OPEC+ tipped to raise quotas again as Mideast calms

BSS — Sun, 05 Jul 2026 10:33:38 +0600

Seven OPEC+ members are likely to raise oil production quotas on Sunday as Gulf countries are reeling from the Middle East war, analysts told AFP. Saudi Arabia, Russia and five other members of the enlarged Organisation of the Petroleum Exporting Countries (OPEC+) are meeting online on Sunday to discuss quotas for August. OPEC+ will likely continue "to unwind the production cuts at the same... Details

Bangladesh's June exports surge by 25.91%

UNB — Thu, 02 Jul 2026 23:34:53 +0600

Bangladesh's merchandise exports posted a robust 25.91 percent year-on-year growth in June 2026, closing out fiscal year 2025-26 with renewed momentum despite persistent global economic and geopolitical headwinds, according to provisional data released by the Export Promotion Bureau (EPB) on Thursday. The country earned US$ 4,202.69 million from merchandise exports in June 2026, up from... Details

‘Bangla QR’ launched to drive cashless economy

UNB — Thu, 02 Jul 2026 14:45:05 +0600

Bangladesh Bank Governor Md Mostaqur Rahman on Wednesday officially inaugurated transactions using Bangla QR, marking a unified step toward a cashless society and a fully interoperable digital payment ecosystem. He launched the initiative by completing a transaction via the unified QR code at a bKash merchant outlet in Motijheel, the capital's commercial hub. Starting on Wednesday, the... Details

Trump reports over $1.4bn in income from crypto ventures

Click Ittefaq Desk — Wed, 01 Jul 2026 09:49:43 +0600

U.S. President Donald Trump reported more than $1.4 billion in income from his family’s crypto ventures last year, showing how Trump now derives most of his income from digital assets that have benefited from his policies, according to a review of his latest financial disclosures on Tuesday. The filings, his annual disclosure for 2025 with ‌the U.S. Office of Government Ethics,... Details

BB adopts cautious MPS to curb inflation

BSS — Tue, 30 Jun 2026 17:31:28 +0600

Bangladesh Bank (BB) today maintained its policy repo rate at 10 percent, adopting a cautious monetary policy stance for the July-December 2026 period to contain inflation while safeguarding the country's fragile economic recovery amid mounting global and domestic risks. Announcing the Monetary Policy Statement (MPS) at the central bank headquarters in the city, BB Governor Md. Mostaqur Rahman... Details

BB set to unveil monetary policy

UNB — Tue, 30 Jun 2026 14:49:21 +0600

Bangladesh Bank (BB) is likely to keep its key policy interest rate unchanged at 10 percent shelving an earlier plan to lower the rate amid growing global economic uncertainty triggered by the recent geopolitical tensions in the Middle East. The central bank is scheduled to announce the monetary policy on Tuesday afternoon at a press conference. The governor initially convened a meeting of... Details

Oil falls over Iran-US talks in Doha

Click Ittefaq Desk — Tue, 30 Jun 2026 11:02:02 +0600

Oil prices ‌dipped on Tuesday and were poised for a monthly decline, with investors eyeing potential U.S.-Iran talks in Doha amid a strained interim ceasefire in the four-month-old war. Brent August crude futures , which expire on Tuesday, were down 0.9%, or 64 cents, at $72.51 a barrel as of 0356 GMT. These levels are around $20, or 22%, lower than last month's closing. The more... Details

Remittances grow 17.6% to record $35.34bn in FY25–26

UNB — Mon, 29 Jun 2026 18:08:46 +0600

Bangladesh's remittance inflows crossed the US $35.34 billion mark in the concluding fiscal year FY2025–26, registering a robust double-digit annual growth, according to the latest data from Bangladesh Bank. The data, released by the central bank's Foreign Exchange Policy Department, showed that expatriate Bangladeshis sent $35.34 billion between July 2025 and June 28, 2026. This... Details

12 Chinese firms propose $9.21b investment in Bangladesh

BSS — Sun, 28 Jun 2026 23:34:24 +0600

Twelve Chinese companies have proposed investments worth US$9.21 billion in Bangladesh across energy, infrastructure, logistics, manufacturing and education sectors following meetings with Prime Minister Tarique Rahman during his recent visit to China. The investment proposals were presented when the chief executives and senior representatives of the 12 companies met Prime Minister Tarique... Details

Trump threatens 100% tariff on European nations over tech tax

Click Ittefaq Desk — Sat, 27 Jun 2026 15:05:39 +0600

US president Donald Trump has vowed to impose a 100% import tariff on any European country that introduces a digital services tax on American technology giants. Writing on his Truth Social platform, Trump said "Numerous European countries" had been discussing bringing in such a levy and some were close to doing so, BBC reports. He warned that the punitive penalties would be applied... Details

Japan needs more foreign workers, but many feel unwelcome

Click Ittefaq Desk — Fri, 26 Jun 2026 18:39:58 +0600

"I was shocked. It is too much to pay 100,000 yen to extend my visa every three years," said Srijana Sunar, a 29-year-old Nepali woman who has been working at factories in Japan since 2018. She earns 145,000 yen ($900/€790) per month. In late May, the Japanese government enacted a bill raising the maximum fee for changing residency status or extending a period of stay tenfold from the... Details

Remittance rises 17.7pc to $35.07bn in FY26 till June 24

BSS — Fri, 26 Jun 2026 11:18:58 +0600

Bangladesh received US$35.07 billion in remittances during the first 359 days of fiscal year (FY) 2025-26, marking a robust 17.7 percent growth compared with the corresponding period of the previous fiscal year. According to the latest data from Bangladesh Bank, expatriate Bangladeshis sent home $35.069 billion between July 1, 2025 and June 24, 2026, up from $29.792 billion received... Details

Elon Musk loses trillionaire status

Click Ittefaq Desk — Thu, 25 Jun 2026 23:41:35 +0600

Tech entrepreneur Elon Musk lost his trillionaire status on Tuesday, less than two weeks after becoming the first person to achieve it following SpaceX's public debut, according to data from Bloomberg. The Bloomberg Billionaires Index - updated daily at 17:30 in New York (22:30 BST) - valued his fortune at $957bn (£727bn) on Tuesday, down from the $1.11tn valuation less than 14 days ago,... Details

Bangla QR mandatory from July 1 to boost cashless transaction

BSS — Thu, 25 Jun 2026 15:59:57 +0600

Bangladesh Bank (BB) has made the use of Bangla QR code mandatory from July 1 as part of its efforts to reduce cash-based transactions and accelerate the country's transition towards a cashless economy. BB Deputy Governor Dr. Habibur Rahman today announced the decision while addressing the inaugural ceremony of the "Bangla QR Transaction Campaign" as the special guest at the central bank... Details

Brent crude falls below pre-Mideast war closing price

BSS — Thu, 25 Jun 2026 12:08:37 +0600

Brent crude fell more than one percent Thursday, slipping below its closing level on the eve of the Middle East war, as investors grow optimistic about US-Iran peace talks and tankers continue through the Strait of Hormuz. The contract for August hit a low of $72.44 a barrel, compared with the February 27 close of $72.48. Brent soared as high as $119 in the weeks after the United States and... Details

Govt urged to ease compliance regulations for RMG

UNB — Wed, 24 Jun 2026 22:52:14 +0600

A delegation from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Wednesday held a meeting with Environment, Forest and Climate Change Minister Abdul Awal Mintoo to advocate for pragmatic, science-based environmental compliance in the ready-made garment (RMG) and textile sectors. Led by BGMEA President Mahmud Hasan Khan, the delegation met the Minister at the... Details

1,200 cargo vessels stranded in Hormuz

UNB — Wed, 24 Jun 2026 14:43:53 +0600

More than 1,200 cargo ships carrying goods worth an estimated $125 billion remain stranded following the closure of the strategically important Strait of Hormuz, the Financial Times reported on Wednesday, citing a report by insurance company Allianz. According to the report, the disruption has significantly altered how insurers assess risks in major maritime chokepoints. “We used to... Details

Chattogram Port breaks records amid global slowdown

Click Ittefaq Desk — Wed, 24 Jun 2026 08:12:19 +0600

Despite the global economic slowdown, the revenue of Chattogram Port, widely regarded as the lifeline of Bangladesh’s economy, has been increasing significantly. At the same time, container handling volumes have also risen. The port has achieved remarkable success in both revenue generation and revenue growth. According to the port authority, this success has been achieved by reducing... Details

The future of oil prices may depend on China

Click Ittefaq Desk — Tue, 23 Jun 2026 13:35:19 +0600

As the US and Iran hammer out how to permanently reopen the Strait of Hormuz and restart the flow of Middle Eastern oil, the market’s next move may depend on one country absent from the negotiations: China. The world’s second-largest consumer of crude oil, China, has pulled out all the stops to preserve supplies as the war in Iran has cut off access to more than 11 million barrels... Details

Crude prices drop, most stocks rise on 'positive' US-Iran talks

BSS — Mon, 22 Jun 2026 15:12:08 +0600

Oil prices fell Monday on optimism over US-Iran peace talks, with mediators flagging a "roadmap" to a final agreement, while most equities rose thanks to another healthy start for tech firms. After a meeting planned for Friday was cancelled owing to fighting between Israel and Hezbollah, the negotiations finally got underway on Sunday in Switzerland with teams led by US Vice President JD Vance... Details

CPD finds FY27 budget ambitious but unlikely to deliver on key promises

Sun, 21 Jun 2026 12:59:32 +0600

Centre for Policy Dialogue (CPD) on Sunday said the national budget for FY2026-27 reflects a clear philosophy of economic recovery through human development but its ambitious macroeconomic targets rest on shaky ground and the fiscal framework is unlikely to hold as proposed. CPD Executive Director Dr Fahmida Khatun presented the think tank's Independent Review of Bangladesh's Development... Details

PM assures full support to investors to reopen closed factories

UNB — Sat, 20 Jun 2026 19:43:46 +0600

Prime Minister Tarique Rahman on Saturday assured investors of full government support in reviving non-operational and loss-making state-owned factories, saying the government is committed to removing any obstacles and creating a more business-friendly environment. “We just want you to grow further, and we want to help you by providing all necessary support,” he told local and... Details

Brexit cost 6% of UK economy

Click Ittefaq Desk — Fri, 19 Jun 2026 11:45:10 +0600

The UK economy has taken a 6% hit from the effects of Brexit, according to economists' analysis of internal Bank of England data about the decisions, views and financial results of thousands of British companies since the referendum a decade ago. Examining data that the Bank uses to decide on interest rates, the study analysed lost growth by trying to reconstruct how the UK would have grown if... Details

BB eases ship lease remittance rules to boost shipping sector

BSS — Thu, 18 Jun 2026 19:11:19 +0600

Bangladesh Bank (BB) has allowed domestic shipping companies to remit vessel lease rentals abroad, in a move aimed at strengthening and modernising the country’s maritime financing framework. The decision extends foreign exchange flexibility previously available only to the aviation sector, bringing shipping under a similar regulatory regime to facilitate smoother international leasing... Details

Oil prices tumble over 3% after Trump signs deal to reopen Hormuz

BSS — Thu, 18 Jun 2026 13:43:02 +0600

Oil prices fell over three percent Thursday after US President Donald Trump and his Iranian counterpart signed off on a deal to end their war and reopen the Strait of Hormuz. At around 0625 GMT, the main US oil contract, West Texas Intermediate, sank 3.4 percent to $74.18 a barrel. International benchmark Brent North Sea crude was down 3.02 percent at $77.15 a barrel. Details

Oil drops below $80 on US-Iran deal

BSS — Wed, 17 Jun 2026 12:57:02 +0600

Oil prices dropped below $80 a barrel Tuesday on optimism over the promised reopening of the Strait of Hormuz, easing inflation pressures on global economies. The slide accelerated to more than five percent after The Wall Street Journal reported that Washington could ease sanctions on Iranian crude as part of the deal to end the Middle East war, allowing Tehran to immediately sell crude and... Details

Pizza Hut sold for $2.7bn

UNB — Tue, 16 Jun 2026 23:39:39 +0600

Yum Brands has agreed to sell Pizza Hut for a combined $2.7 billion, ending its ownership of the iconic pizza chain as the company seeks to focus on higher-performing brands amid declining sales at Pizza Hut. The parent company of KFC, Taco Bell and Pizza Hut announced Tuesday that private equity firm LongRange Capital will acquire Pizza Hut’s operations outside mainland China for... Details

US says Hormuz to be toll-free under Iran deal

BSS — Tue, 16 Jun 2026 09:52:15 +0600

The United States said Monday that ships will move toll-free through the Strait of Hormuz under an Iran peace deal signed by President Donald Trump, and insisted Tehran would have to fulfill its commitments before getting any economic benefits. They included a possible $300 billion reconstruction fund for the war-battered country, but the release of funds will be "tied to performance," a... Details

Gold prices see two consecutive hikes after days of decline

UNB — Mon, 15 Jun 2026 14:19:10 +0600

Gold prices in Bangladesh have surged by Tk 12,072 per bhori over two consecutive days, reversing a prolonged declining trend, as the Bangladesh Jewellers Association (BAJUS) cited rising pure gold prices in the local market. BAJUS raised the price of 22-carat gold by Tk 5,482 per bhori on Monday, setting the new rate at Tk 2,30,422. The revision took effect from 10:00am. The hike follows a... Details

Oil prices down more than 4%

BSS — Mon, 15 Jun 2026 09:49:32 +0600

Oil prices plunged more than four percent Monday after the United States and Iran announced they had reached a peace agreement to end months of a war that had roiled energy markets. West Texas Intermediate was down 4.39 percent at $81.15 a barrel in Tokyo after mediator Pakistan said the United States and Iran agreed to a peace deal and an "immediate and permanent" end to military operations... Details

Govt to establish new EPZs in 2 districts, Economic Zones in 3 districts

BSS — Sun, 14 Jun 2026 14:09:12 +0600

The government has decided to establish Export Processing Zones (EPZs) in Barishal and Lalmonirhat to attract foreign investment, increase exports, and create employment opportunities. The Cabinet Division has already sent letters to the Secretary of the Prime Minister’s Office and other relevant authorities to begin implementing the EPZ projects. During the DC Conference held in May,... Details

Govt eyes inflation relief, lower debt through sweeping reforms

UNB — Sun, 14 Jun 2026 12:30:41 +0600

The government has placed the restoration of macroeconomic stability at the centre of its economic recovery, restoration and reconstruction agenda, pledging a series of fiscal, monetary and institutional reforms aimed at curbing inflation, strengthening public finances and reducing debt dependence. As per the budget document, the government acknowledged that persistently high inflation over... Details

SpaceX set for Wall Street debut in record-breaking IPO

UNB — Fri, 12 Jun 2026 14:51:11 +0600

Elon Musk's rocket company SpaceX is set to make its stock market debut on Friday in what could become the largest initial public offering (IPO) in history, drawing strong interest from both large investors and individual buyers. The company plans to sell about 555.6 million shares at $135 each, raising roughly $75 billion. The listing is expected to further boost the wealth of Musk, already... Details

Shopping malls, markets to stay open until 9pm

UNB — Thu, 11 Jun 2026 17:03:06 +0600

The government has decided to allow shopping malls, markets and retail shops across the country to remain open until 9pm from June 12, easing restrictions imposed earlier as part of power-saving measures. The Power Division issued a notification on Thursday saying that the revised operating hours would be from 11am to 9pm. Earlier, under a government decision that took effect on... Details

What may cost more in FY26–27 Budget?

Click Ittefaq Desk — Tue, 09 Jun 2026 17:02:26 +0600

In the proposed budget for the 2026–27 fiscal year, the government may increase taxes, customs duties, and VAT on various products and sectors. As a result, the prices of some consumer goods, import-dependent products, and luxury items are expected to rise. The first budget of the government led by Prime Minister Tarek Rahman will be presented at 3:00 PM on Thursday, June 11. Finance Minister... Details

China's exports rise 19.4% in May despite impact of Iran war

UNB — Tue, 09 Jun 2026 10:23:05 +0600

China's exports grew at a faster-than-expected pace in May, increasing 19.4 percent year-on-year despite disruptions linked to the Iran war, according to data released Tuesday by the country's customs authority. The May figure marked an acceleration from April’s 14.1 percent annual growth rate, underscoring the resilience of China's export sector. Analysts attributed the strong... Details

BB launches Tk 5,000cr revolving refinance fund for CMSMEs

BSS — Mon, 08 Jun 2026 19:13:08 +0600

Bangladesh Bank (BB) today launched a Tk 5,000 crore revolving refinance fund for the Cottage, Micro, Small and Medium Enterprise (CMSME) sector to ease working capital shortages, boost production and support employment generation. The central bank introduced the fund through an SMESPD circular issued by its SME and Special Programmes Department, utilizing surplus liquidity of scheduled banks.... Details

June 30 deadline to upload paper VAT returns to e-VAT system

UNB — Sun, 07 Jun 2026 18:38:27 +0600

The National Board of Revenue (NBR) has extended the deadline for businesses to enter previously submitted paper-based VAT returns into the electronic VAT (e-VAT) system until June 30, 2026, ahead of the planned introduction of mandatory online VAT return filing from July. According to an NBR press release issued on Sunday, a new sub-module titled “Hard Copy Return Entry” has been... Details

RMG exports decline 3.41% in 11 months of fiscal

UNB — Sun, 07 Jun 2026 09:25:28 +0600

Bangladesh’s ready-made garment (RMG) exports fetched US$ 35.31 billion during the July–May period of the fiscal year 2025–26, registering a 3.41 percent decline compared to the same period in the previous fiscal year FY2024-25, according to the latest data from the Export Promotion Bureau (EPB). The sector, which serves as the backbone of the country's export economy, faced... Details

Tk 20,000cr loan scheme at 7% interest launched to revive closed factories

UNB — Sat, 06 Jun 2026 11:26:33 +0600

In a major move to inject vitality into a sluggish economy and generate employment, Bangladesh Bank (BB) on Thursday night announced a Tk 20,000-crore pre-refinancing scheme aimed at fully reviving closed and partially operational industries. Under this new policy, titled the "Pre-Refinancing Scheme for Assisting Closed Large-Scale Industry and Service Sectors," eligible business entities and... Details

Rangpur farmers eye bumper harvest of Haribhanga mangoes

BSS — Fri, 05 Jun 2026 14:20:34 +0600

Enthusiastic farmers in Rangpur agricultural region are preparing to start harvesting the delicious local variety of 'Haribhanga' mangoes from June 15, hoping for a bumper harvest and good profits this season. Despite damage caused by hail and heavy rains during and after fruit setting periods, farmers and officials of the Department of Agricultural Extension (DAE) are optimistic about a... Details