US stock futures rose and the dollar wavered on Wednesday after President Donald Trump said he would indefinitely extend the Iran ceasefire, keeping sentiment buoyed, although with the Strait of Hormuz still closed, oil prices stayed near $100.

Trump's announcement appeared to be unilateral, and it was not immediately clear whether Iran, or US ally Israel, would agree to extend the ceasefire, which began two weeks ago.

Markets took the latest development in stride as investors weighed the extension with no signs of resumption in talks yet. Iran had rejected a second round of negotiations before Trump's announcement.

S&P futures EScv1 rose 0.4% while Nasdaq futures NQc1 gained 0.5%. European futures STXEc1 eased 0.3% pointing to a subdued open.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.7% after hitting a seven-week top on Tuesday. Japan's Nikkei .N225, South Korea's KOSPI .KS11 and Taiwan stocks .TWII hit record highs on renewed AI wagers.

Thomas Mathews, head of markets for Asia-Pacific at Capital Economics, said the earlier ceasefire was widely seen as indefinite so it was not surprising the latest announcement had not moved markets much.

"Obviously, any news on the re-opening of the Strait is a good candidate for the next big market flashpoint," Mathews added.

Hormuz remains key

After a sharp selloff in March due to the war in the Middle East, markets across the globe have swiftly rebounded this month and are back at pre-war levels as the prospect of a peace deal and the ceasefire spurred a risk-on rally.

That has also left the US dollar, which benefited from safe haven demand in March, on the back foot, giving up most of its war-induced gains.

"It appears markets were right to assume peak war uncertainty is behind us," said Matt Simpson, a senior market analyst at StoneX. "Risk seems likely to remain buoyant and dips viewed favourably by equity bulls. The closure of the Strait of Hormuz is already priced in."

Trump said he would continue the US Navy's blockade of Iran's ports and shores. Tehran has effectively closed the Strait of Hormuz through which one-fifth of the world's energy supply usually flows, causing a global energy shock.

Oil prices swung between gains and losses, with Brent crude futures LCOc1flat at $98.47 per barrel. US West Texas Intermediate crude CLc1 futures slipped 0.25% to $89.45 a barrel. O/R

While oil prices have come down from their March peaks they are still well above pre-war levels, worrying investors that elevated energy prices could quicken inflation and keep global rates higher for longer.

"We expect markets to remain volatile for now given the uncertainty with Hormuz and because the duration and scale of the crisis remain unclear," said Vasu Menon, managing director of investment strategy at OCBC.

Warsh senate appearance

Investors parsed comments from Federal Reserve chief nominee Kevin Warsh as he tried to assure US senators considering his confirmation to lead the central bank that he would act independently of the White House.

Warsh said he had made no promises to Trump about cutting rates and called for a new approach to controlling inflation and a communications overhaul that could discourage his colleagues from saying too much about the direction of monetary policy.

Separately, data on Tuesday showed US retail sales rose more than expected in March as the war with Iran boosted gasoline prices and led to a record surge in receipts at service stations, while tax refunds underpinned spending elsewhere.

Bangladesh is witnessing a steady rise in remittance inflow, offering renewed support to the country's foreign exchange reserves and overall economic stability, officials and analysts observed.

According to data from Bangladesh Bank, the country has maintained a significant upward trajectory in remittance earnings over the last two fiscal years, achieving historic milestones that have surpassed all previous benchmarks.

During the 2023-24 fiscal year, the nation recorded $23.9 billion in inflows. Growth accelerated sharply in FY 2024-25, reaching a record high of $30.3 billion, which represented a year-on-year increase of more than 25 per cent.

The momentum has continued into the current 2025-26 fiscal year, with the July-March period alone bringing in $26.21 billion, compared to $21.79 billion during the same period in the previous year.

Most recently, data from July through April 20 of FY 2025-26 shows that remittance inflows reached $28,426 million, significantly outpacing the $23,666 million collected during the same timeframe last year.

The central bank has attributed the growth to a combination of incentives, stricter monitoring of informal transfer systems, and the gradual recovery of global labour markets.

Economists noted that remittance earnings remain one of the key pillars of Bangladesh's economy, alongside exports. The inflow has helped ease pressure on the balance of payments and stabilise the exchange rate amid ongoing global economic uncertainties.

The government has been encouraging migrant workers to send money through official banking channels by offering a 2.5 per cent cash incentive for sending money through formal channels.

Officials from the Ministry of Expatriates' Welfare and Overseas Employment mentioned that awareness campaigns and digital financial services have also contributed to the increasing trend.

Bangladeshi workers in the Middle East, Europe, and Southeast Asia continue to be the main contributors to remittance inflows. Countries such as Saudi Arabia, the United Arab Emirates, and Malaysia remain among the top sources.

Experts, however, emphasised the need for diversification of overseas job markets and skill development initiatives to sustain long-term growth in remittance earnings.

They also called for further reduction in transaction costs and expansion of mobile financial services to each rural household more effectively.

Renowned economist Dr Zahid Hussain stated that Bangladesh's macroeconomic stability has been restored, albeit modestly, and external indicators like the balance of payments and foreign exchange reserves remain in a comfortable position.

He credited the economy's current stability to the adoption of a flexible exchange rate system.

The economist said that the remittance surge played a crucial role in replenishing reserves, noting that issues faced during the dollar crisis, such as difficulty opening letters of credit (LC) for banks, have already become normal.

The economist, however, urged the government to urgently explore alternative overseas labour markets as the ongoing Middle East conflict threatens to disrupt migration and remittance inflows, a key pillar of the country's economy.

He said Bangladesh's heavy dependence on Gulf countries for overseas employment has created vulnerability, particularly at a time when geopolitical tensions are affecting labour demand, recruitment processes and worker mobility.

"Any prolonged conflict in the Middle East could significantly affect manpower export and remittance inflow. It is now crucial to diversify labour markets to minimise risks," he added.

Bangladesh Bank Executive Director and Spokesperson Arif Hussain Khan said remittance inflows to the country remain stable despite ongoing tensions in the Middle East, although the situation is being closely monitored due to Bangladesh's heavy reliance on migrant workers in the region.

"Remittance inflow has shown a positive trend in recent months, which is helping stabilise the foreign exchange market," he said.

"Remitters now feel encouraged to send their money through formal banking channels instead of the illegal 'Hundi' system, which can help boost the country's foreign exchange reserves," he added.

Foreign exchange reserves, according to Bangladesh Bank data released on 16 April, currently stand at $35.04 billion.

However, when calculated using the International Monetary Fund (IMF) methodology under the Balance of Payments and International Investment Position Manual (BPM6), the reserves total 30.37 billion.

Deputy Managing Director (DMD) of the Dutch-Bangla Bank Limited, Mohammed Shahid Ullah, confirmed that demands for 'Hundi' and 'Hawala'-illegal cross-border money transfer channels-have declined following a crackdown on operators after the political changeover, diverting more remittances through formal banking channels.

He added that the positive effects of the remittance boom are highly visible across Bangladesh, particularly in rural communities that rely heavily on money sent from relatives working abroad.

He noted that remittances have consistently increased since August 2024, providing the interim government with a respite following the rapid depletion of foreign exchange reserves.

Mohammed Shahid Ullah, however, noted that remittance enhances financial inclusion by encouraging recipients to engage with formal banking systems.

"It also supports domestic investment through increased savings and liquidity in the financial sector. In times of global economic stress, remittance has proven more stable compared to foreign direct investment or portfolio flows, thus acting as a buffer against external shock," he added.

Despite progress, he mentioned, there remains substantial scope for further improvement.

"Reducing transaction costs and ensuring near real-time fund transfers (T+0 settlement) would make formal channels more competitive. Expanding banking access in rural areas and strengthening partnerships with international money transfer operators can further streamline inflows," he added.

He described that remittance is not merely a financial inflow; it is the lifeblood of Bangladesh's socio-economic progress.

"It strengthens macroeconomic stability, uplifts millions of households, and fuels sustainable development. While the country has made commendable strides in increasing remittance through formal channels, sustained policy innovation, technological advancement, and global labour market integration will be key to unlocking its full potential in the years ahead," he added.

Bangladesh’s financial system remains overwhelmingly bank-dominated with 765 other financial institutions making only a limited contribution to boosting the economy.

According to a Bangladesh Bank report, the other financial corporations (OFCs) — a broad group that includes non-bank financial institutions, insurance companies, brokerage firms, mutual funds and mobile financial services — together account for just 4.6 per cent of total financial sector assets, compared with 78.1 per cent held by banks.

This imbalance highlights a structural weakness, where alternative financing channels remain underdeveloped despite their large number and potential role.

BB identified 765 other financial institutions operating in the country.

These institutions are expected to complement banks by mobilising long-term funds and supporting capital market activities.

At the end of December 2025, total assets of OFCs stood at Tk 2.02 lakh crore, marking a 13.45 per cent increase from Tk 1.78 lakh crore in the previous year.

While this growth appears significant, it has not translated into stronger support for business investment or industrial expansion.

Instead, the sector’s role in direct financing remains limited.

A closer look at the asset composition explains the issue.

Around 85 per cent of OFC assets are concentrated in claims on other sectors, claims on banks, and claims on the government.

This indicates that a large portion of funds circulates within the financial system or goes into public sector instruments, rather than being channelled into private sector investment.

More concerning is the decline in lending activity.

Loans provided by OFCs dropped by 6.7 per cent year-on-year and 4.35 per cent on a quarterly basis.

This contraction suggests that financial institutions other than banks are reducing their exposure to credit at a time when the economy needs diversified funding sources, especially as banks face rising stress.

The term ‘claims’ in the report refers to financial assets held by institutions, such as loans, deposits, or investments in securities.

A higher share of claims on banks, for example, means OFCs are placing funds with banks instead of lending directly to businesses.

Such behaviour reduces their effectiveness as independent financing channels.

On the liability side, the structure further reflects limited market development.

Equity accounts for about 32 per cent of total liabilities, while insurance and pension-related reserves make up around 23.5 per cent.

These are relatively stable sources of funds, but they are not being fully utilised for long-term investment in the real economy.

The absence of a functioning bond market remains a key constraint.

Debt securities represent only a negligible share of liabilities and showed no meaningful growth over the year.

In most economies, bond markets allow companies and governments to raise long-term funds without relying on banks.

In Bangladesh, this channel remains largely inactive, placing more pressure on the banking system.

Within the OFC sector, life insurance companies hold the largest share of assets at about 25 per cent, followed by other financial institutions and brokerage houses.

Mobile financial services are also expanding, accounting for around 9.6 per cent of total assets, reflecting increased digital transactions.

However, these segments largely facilitate payments or manage savings, rather than providing substantial long-term financing for industry.

The long-term trend shows that OFC assets have more than doubled over the past several years, rising from Tk 92,640 crore in 2018 to over Tk 2 lakh crore in 2025.

However, a significant part of this increase is linked to improved data coverage rather than a fundamental expansion of financing capacity.

The report also highlights gaps in data reporting.

Out of 765 identified institutions, only 525 were included in the final analysis due to incomplete submissions.

The overall picture points to a financial system where banks continue to carry the primary burden of financing both short-term and long-term needs.

This creates asset-liability mismatches, as banks use short-term deposits to fund long-term projects, increasing financial risk.

Non-bank financial institutions have yet to evolve into effective channels for capital mobilisation.

The Ministry of Finance has earmarked Tk 1.17 trillion, or 39 per cent of the proposed Tk 3.0-trillion Annual Development Programme (ADP), for the next fiscal year, as block and special allocations across various sectors.Banking sector news

The remaining Tk 1.83 trillion, or 61 per cent of the ADP, is set to be allocated to ongoing projects under different ministries and divisions, according to sources at the Ministry of Planning.

Officials said the Finance Division on Tuesday sent the final ministry-wise expenditure ceilings for ADP allocations for the next fiscal year to the Programming Division of the Planning Commission.

The allocations will be finalised after distribution among projects before being placed at a meeting of the National Economic Council (NEC) for approval.

A review shows that more than Tk 1.07 trillion of the proposed allocation has been kept as block allocation to facilitate approval of new projects. In addition, Tk 97.98 billion has been set aside to meet special needs of local government bodies.

Around 80 per cent of the proposed allocations for several ministries and divisions -- including the Medical Education and Family Welfare Division, Health Services Division, and the Ministry of Primary and Mass Education -- has been kept as block allocation.

Experts and economists say several ministries and divisions often fail to utilise even their project-specific allocations, raising concerns that block allocations may remain underutilised and merely inflate the size of the ADP.

The Local Government Division has proposed the highest allocation in the proposed ADP at Tk 362.28 billion, reflecting continued priority on local infrastructure and service delivery.

It is followed by the Road Transport and Highways Division with Tk 310.65 billion, underscoring strong emphasis on transport connectivity.

The Health Services Division ranks third with Tk 268.08 billion, while Tk 213.48 billion has been proposed for the Ministry of Primary and Mass Education.

The Secondary and Higher Education Division has been allocated Tk 208.35 billion, indicating sustained focus on human capital development.

In the energy sector, the Power Division has been earmarked Tk 192.86 billion, while the Science and Technology Division will receive Tk 173.16 billion. The shipping sector has received the lowest allocation among the listed divisions at Tk 109.69 billion.

Overall, the allocation pattern highlights continued priority on infrastructure, energy and social sectors.

In terms of block allocation, the Health Services Division tops the list with Tk 208.0 billion, accounting for 77.59 per cent of its total allocation, followed by the Ministry of Primary and Mass Education with Tk 162.99 billion.

Secondary and Higher Education has received Tk 115.0 billion, representing 55.19 per cent of its total allocation, while the Medical Education and Family Welfare Division shows the highest reliance on block allocation at Tk 68.0 billion, or 80.52 per cent.

In other key sectors, the Technical and Madrasha Education Division has received Tk 30.79 billion in block allocation, more than half of its proposed allocation, while agriculture shows a relatively lower share at Tk 17.0 billion, or 25.99 per cent.

Economist Dr Mustafa K Mujeri, former director general of the Bangladesh Institute of Development Studies (BIDS), said several ministries -- particularly in health and education -- are unable to utilise even their project-based allocations effectively.Bangladesh market report

"In this context, it is questionable what role block allocations would play for such ministries," he said, raising concerns over their efficiency and absorption capacity.

"Utilisation of block allocations depends on approval of new projects, which is very difficult," he added,

warning that such allocations may only serve to expand the size of the ADP.

Former Planning Division secretary Md Mamun Al Rashid also criticised the practice, saying block allocations are not earmarked for specific projects and may lead to inefficient spending.

"When there is no defined project or sector, such funds often end up being spent on unnecessary areas later," he said, adding that large block allocations create scope for misuse and wastage of public resources.

Sources said the ADP size for the current fiscal year was initially set at Tk 2.3 trillion but later revised to Tk 2.0 trillion.

The proposed ADP for the next fiscal year stands at Tk 3.0 trillion, with Tk 1.9 trillion expected from domestic sources and Tk 1.1 trillion from external financing.

Even though fuel supply in the country has increased, with higher allocations and improved depot dispatches easing some of the earlier pressure at filling stations, persistent gaps in supply management and uneven distribution continue to blunt the impact on the ground.

On paper, availability appears more stable, but in reality, public ordeal has not eased as expected, with long queues and persistent pressure still visible across most areas.

Agriculture-dependent regions such as Naogaon are facing an added strain from diesel shortages, with farmers often returning empty-handed as pumps run out of fuel needed for irrigation, putting them at risk of significant crop losses amid ongoing watering difficulties.

Dhaka: Queues shorten, but demand pressure remains

In the capital, fuel supply has improved, with most filling stations receiving higher volumes of petrol and octane. This has reduced extreme congestion, but queues remain visible.

At 1:30pm yesterday (22 April), the queue at Ramna Filling Station stretched from Matsya Bhaban past Shilpakala Academy to Birdem Hospital – still long, but significantly shorter than earlier weeks when it extended up to the Public Works Department.

Motorcycles were receiving Tk800-Tk1,000 worth of fuel, while cars were supplied Tk2,000 worth.

Pump owner Nazmul Haque said daily supply has increased from 18,000 litres to 22,500 litres. "From my long experience, to eliminate long waiting times at filling stations, the government will have to increase supply further," he said.

At Meghna Model Star Service in Paribagh, a steady flow of vehicles moved in and out throughout the afternoon. Assistant Manager Ahmed Rushd said supply has doubled compared to earlier levels.

"We started sales this morning with 27,000 litres of octane and 10,000 litres of petrol. More fuel will arrive again at night," he said.

However, nearby Purbal Traders had no fuel stock. Cashier Dulal said the station received 13,500 litres on 20 April but none on 21 April. Despite a 20% announced increase in octane supply, he said the benefit has not materialised due to the pump's tanker capacity limits of 13,500 litres.

Savar: Supply improves, congestion unchanged

In Savar, queues persist despite increased supply. Around 65% of stations reportedly have no petrol or octane, while operational outlets face concentrated pressure. Birulia Filling & LPG Station had only 268 litres of octane yesterday morning.

Consumers continue to feel the strain. Md Shoaib Hossain said, "I have been waiting for three hours and still haven't received fuel." Motorcyclist Sakib added, "The same long lines remain. If I get Tk300 worth of fuel after hours of waiting, how far will that take me?"

Operators say depot-level rationing prevents simultaneous distribution, shifting demand to a limited number of functioning pumps.

Around 70% of stations have diesel, but frequent load-shedding continues to disrupt supply.

At Lalon CNG & Refuelling Station, manager Ahmed said supply has remained inconsistent since the shortage began, and the promised increase in allocation has yet to arrive.

SI Chowdhury Filling Station manager Mostak Ahmed echoed the same experience, saying supply has improved in volume but remains irregular. "Earlier, we wouldn't get octane for five to six days; now it comes every three to four days in 4,500-litre batches. But the issue is consistency. Because supply is not regular and not all pumps receive fuel at the same time, pressure remains. Supply may have increased, but customer pressure is still the same," he said.

The same pattern is reflected at the association level. Bangladesh Petroleum Dealers, Distributors, Agents and Petrol Pump Owners Association convener Syed Sazzadul Karim Kabul told The Business Standard there is still no real improvement. "The lines may look shorter, but nozzles are running nonstop as customer flow continues," he said.

He added that queues alone do not capture the full picture, as oil companies continue to supply fuel in an uncoordinated way, often sending 2,000, 3,000 or 4,000 litres per station at their own discretion rather than through a uniform distribution system.

Sazzadul also noted that ongoing load-shedding is worsening diesel shortages, with rural areas facing 7-8 hours of power cuts. He warned that rising irrigation demand in the coming days is likely to put additional strain on already stretched supplies.

Sylhet: Demand surge offsets supply gains

In Sylhet, small increases in depot supply have not translated into real relief at the pump level. Dealers say what looks like an improvement on paper is not being felt in reality.

Riasad Azim Adnan, acting president of the Sylhet District Petrol Pump Owners Association, said, "The increase exists on paper rather than in practice." He noted allocations have risen from 100 litres to 120 litres, but added, "We are not actually receiving higher quantities as announced."

At the same time, demand has shot up sharply. "Earlier, my pump sold 6,000-7,000 litres of octane per day. Now it is 14,000 to 16,000 litres," he said. "We cannot fully explain this surge. It could be panic buying or even smuggling across the border."

Zubayer Ahmed Chowdhury, divisional committee president of petroleum dealers, said local production should first meet local demand. "If local demand is met, there will be no shortage," he said. He added that one extra truck every four days is being supplied, but "this is not having any meaningful impact."

Naogaon: Farmers under irrigation pressure

The fuel situation in Naogaon is hitting hardest where it matters most – agriculture. With the irrigation season underway, diesel shortages are directly affecting farming activity.

Farmer Atikul Islam said around 90% of the land in the area is agricultural. "Even after going to nearby filling stations for diesel for irrigation pumps, most of the time we do not get fuel," he said.

UNO Shaheen Mahmud said supply has not kept pace with demand. "We have sent letters, requesting increased diesel supply to agricultural areas. We hope the situation will stabilise within a week," he said.

Bogura coordination committee official and Deputy District Magistrate Md Masud Hossain confirmed that supply has increased after price adjustments, but said exact figures are not available: "I can confirm that supply has been raised."

Atithi Filling Station representative Abu Toha added, "Fuel supply has increased slightly, but it is still below current demand."

Although Expat Welfare Minister Ariful Haque Choudhury said yesterday that the situation should return to normal within two to three days, consumers remain sceptical. Truck driver Habibur Rahman, waiting in a fuel queue, said, "The situation will take time to normalise."

Pressure eases in Khulna

Unlike most other areas, field observation at Ferry Ghat intersection in Khulna, Meghna Filling Station, was seen to have a relaxed demand. Around noon, only 10-12 motorcycles were in the queue, with each receiving Tk500-Tk700 worth of petrol or octane.

Just five days earlier, hundreds of motorcycles would crowd the same station, with a cap of around Tk300 per vehicle.

Station manager Masud said supply has improved significantly. "Earlier, we received one tanker a day. Now supply has increased by nearly one and a half times," he said, adding that higher allocations across stations have reduced the need for long queues.

At the Power House intersection, the KCC Filling Station also showed lighter pressure. Motorcyclist Humayun Ahmed said, "There used to be 20-30 vehicles ahead of me. Now there is almost no queue. I can even fill a full tank these days."

A Jamuna Oil official said earlier supply disruptions had halted open-market drum sales, forcing all demand onto filling stations. "Now, limited drum supply has resumed, which has eased pressure slightly," he said, adding that further supply in the open market would gradually help stabilise the situation.

State Minister for Power, Energy and Mineral Resources Anindya Islam Amit announced yesterday that the government has secured sufficient fuel supply to meet demand in May, with preparations underway for June and July.

Stocks at the Dhaka Stock Exchange extended their gains today (22 April), with turnover crossing the Tk1,000-crore mark for the first time in two months as investors increased purchases of oversold and fundamentally strong shares.

Turnover at the premier bourse rose 13.67% to Tk1,056 crore from Tk929 crore in the previous session, marking the highest level since 17 February, when turnover stood at Tk1,222 crore.

The benchmark DSEX index gained 41 points to close at 5,299, while the blue-chip DS30 index rose 20 points to 2,005. The Shariah-based DSES index also edged up by 3 points to finish at 1,066.

Total market capitalisation increased by Tk2,587 crore to Tk6,86,184.18 crore, reflecting stronger investor participation and improved trading activity.

Market breadth remained sharply positive, as 213 issues advanced compared to 121 declining, with 57 stocks unchanged.

According to market insiders, the stock market had been maintaining a positive momentum following the election, but the ongoing Middle-East conflict interrupted that trend and created pressure throughout the month. As a result, the market moved into an oversold position, creating fresh buying opportunities for investors seeking fundamentally strong stocks at lower prices.

Declining yields on government securities encouraged a portion of funds to shift towards the stock market in search of better returns.

At the same time, investors are showing growing interest in December closing companies that are expected to declare attractive dividends. This buying interest has increased trading floor activity despite continued geopolitical uncertainty in the Middle East, leading to a higher volume of share transactions in the market.

However, large investors are still closely monitoring both domestic and international economic uncertainties. Analysts warn that if the Middle-East conflict worsens further, the market could face renewed pressure. For this reason, institutional and major investors are still maintaining a cautious investment approach despite the recent recovery in market activity.

Among the top gainers, Desh Garments led with a 9.96% rise, followed by Purabi Gen Insurance 9.95% and Samata Leather Complex, up 9.92%. Besides, Bangladesh Lamps, Bangas, Rupali Bank, Agni Systems, Monno Fabrics, Anwar Galvanising, and Mir Akhter Hossain Limited were placed at the top ten gainer list.

On the losing side, Shepherd Industries suffered the biggest drop at 7.59%, followed by Nahee Aluminum down 7.52%, and ICB Employees Provident MF 1: Scheme, which fell 7.89%.

In its daily market review, EBL Securities said that the capital bourse staged a strong recovery, buoyed by improved investor sentiment following the emerging signals of a potential ceasefire extension in the Middle East conflict, prompting continued accumulation of beaten-down scrips in anticipation of improved market momentum.

Market indices tracked a firm upward trajectory from the outset of the session with predominant buying interest, while investor participation strengthened steadily as the session progressed, driving broad-based price appreciation across most of the scrips, according to the commentary.

On the sectoral front, Engineering dominated turnover with a 17.3% share, followed by Textile at 13.9% and General Insurance at 13.5%.

Most sectors ended the session on a positive note. Financial Institutions rose 2.0%, Banks gained 1.7%, and Paper advanced 1.4%, leading the gainers.

On the other hand, a few sectors saw corrections. Tannery declined 0.7%, Ceramic fell 0.7%, and Services slipped 0.6%.

Meanwhile, the Chittagong Stock Exchange also closed in positive territory today. The Selective Categories' Index gained 37.0 points, while the All Share Price Index rose 60.4 points.

The European Commission will set out plans on Wednesday to cut electricity taxes and coordinate the summer refill of countries' gas storage, as it seeks to cushion the energy fallout from the Iran war.

Draft proposals seen by Reuters show the EU will, for now, avoid major market interventions such as capping gas prices or taxing energy companies' windfall profits - measures it used in 2022 when Russia cut gas supplies and prices hit record highs.

Instead, the Commission plans to curb EU tax rules to favour electricity over oil and gas, and make it easier for governments to cut industries' electricity taxes to zero, according to the drafts, which could still change before publication.

The EU would also step in to coordinate countries' efforts to fill gas storage in the coming months, and provide guidance on how governments should handle potential jet fuel shortages.

Europe's heavy reliance on oil and gas imports has left it exposed to spiralling prices since the Strait of Hormuz, a vital fuel shipping route, was effectively closed and Iran started attacking energy infrastructure in the Middle East.

Europe's benchmark gas price on Tuesday was roughly a third higher than before the US-Israeli war with Iran began on 28 February.

However, the EU's biggest oil and gas suppliers - the US and Norway - are outside the Middle East, and the Iran crisis has not yet triggered fuel shortages in Europe. Airlines have warned, though, that jet fuel shortages could emerge in weeks.

EU officials told Reuters the bloc's relatively restrained response reflects the fact that national governments, rather than Brussels, control many crisis-management levers, including subsidies and cutting national taxes and levies.

The Commission's plans outline non-binding ways for governments to provide "immediate relief", including requiring businesses to avoid air travel where possible.

Some officials said the response also reflects an assessment that the war-driven energy shock could last for months, making it prudent to hold back more extreme measures for now.

Elisabetta Cornago, assistant director at the Centre for European Reform think tank, said continued closure of the Strait of Hormuz "may lead us to a worse shock regarding oil than in 2022, a similar gas shock, but I think a smaller shock on electricity prices".

That's because countries have significantly expanded renewable electricity since 2022, she said.

The EU produced 71% of its electricity from low-carbon sources, including renewables and nuclear, last year, up from around 60% in 2022, data from think tank Ember showed.

Foreign buyers have begun scaling back export orders as concerns over Bangladesh's energy stability and "negative messaging" regarding fuel shortages rattle international markets, Bangladesh Chamber of Industries (BCI) President Anwar-Ul-Alam Chowdhury (Parvez) said today (22 April).

"Negative messaging is going out. I think we should be more careful in what we say. We keep saying we have fuel shortages and gas issues. Foreign buyers are now getting concerned. They are starting to say 'your country will not even have sufficient gas'," he said during a pre-budget discussion in the capital.

He noted that concerns over electricity supply and overall economic stability in Bangladesh are growing among international buyers. As a result, several sourcing companies are increasingly shifting orders to India and other competing markets.

According to him, expected purchase orders for July and August have slowed significantly, with multiple large buyers already expressing caution. While liaison offices in Dhaka are attempting to manage concerns, top-level management abroad is becoming more reluctant to place new orders.

"In the last one week, four major international companies told me that their top management is not approving orders because they fear there may not be reliable electricity in Bangladesh," he said.

He also warned that several global buyers have started sending similar signals, adding that the readymade garment sector could come under pressure if the trend continues.

Beyond energy concerns, Anwar-Ul-Alam pointed to global market volatility and domestic structural issues as additional reasons behind the slowdown in export orders.

He said the expected order flow for the upcoming July-August period has largely stalled.

He further criticised the existing tax framework for small entrepreneurs, calling it unrealistic under current business conditions.

According to him, the requirement to pay a minimum 1% tax regardless of profit or loss is becoming increasingly burdensome.

"If small entrepreneurs can be brought under a proper tax slab system, it would help them survive. Even when there is no profit, they are still required to pay tax, which is putting them under serious pressure," he said.

He also called for a reduction in withholding tax on export earnings.

The Dhaka Chamber of Commerce & Industry (DCCI) yesterday proposed reducing the corporate tax rate for non-listed companies to 25 percent from the current 27.5 percent in the upcoming budget for the 2026-27 fiscal year.

The proposal was part of a 54-point fiscal package the chamber submitted to the National Board of Revenue (NBR) yesterday, according to a press release.

Among the headline measures, DCCI urged raising the individual tax-free income ceiling to Tk 500,000, reducing advance tax on commercial imports from 7.5 percent to 5 percent, and removing the upper limit on VAT refunds.

It also proposed cutting the source tax on interest income from company security deposits from 20 percent to 10 percent and gradually abolishing the surcharge on companies’ net assets.

Convener of DCCI’s Customs, VAT, Taxation and NBR-Related Issues Standing Committee, MBM Lutful Hadee, said the proposals were aimed at expanding the tax net, reducing the cost of doing business, and stimulating investment in the manufacturing sector.

DCCI Acting Secretary General AKM Asaduzzaman Patwary proposed a central API integration system to close revenue gaps and reduce the deficit.

Responding to the proposals, NBR Chairman Md Abdur Rahman Khan said the board would prioritise easing non-tariff barriers over cutting tariff rates outright.

He said there would be no leniency towards tax evaders, while pledging to ease compliance burdens for honest taxpayers.

Khan added that fewer than 8 lakh businesses were currently VAT-registered, a figure he described as inadequate, noting the number should exceed 10 lakh given the country’s economic scale.

He said that corporate tax had already been reduced from 50 percent to 27.5 percent over time, leaving limited room for further cuts.

The NBR chairman added that online corporate tax return filing and digital refund systems would be operational from the coming fiscal year.

The DCCI acting secretary general presented the proposals at a pre-budget discussion held at the NBR in Dhaka, on behalf of DCCI President Taskeen Ahmed.

Japanese household and personal care giant Lion Corporation has begun production in Bangladesh, targeting a share of the country's 18 crore-strong consumer market.

The company, which dates back to 1891, entered the Bangladeshi market in 2022 through a joint venture – Lion Kallol Limited – with the local Kallol Group, in which it holds a 75% stake.

Commercial operations started last month at its factory in the Bangladesh Special Economic Zone in Araihazar, widely known as the Japanese Economic Zone.

The plant has begun production with two flagship products – Mama Lemon dishwashing liquid and Systema toothbrush – while the company plans to gradually expand its portfolio of household and personal care items.

A visit to the factory on 9 April showed a compact, elevated single-storey facility reflecting Japanese industrial discipline and efficiency. Product displays at the entrance featured a range of items, including Kodomo baby care products, Jet fabric-cleaning products, and oral care offerings.

Company officials said the investment reflects a long-term commitment to Bangladesh, aimed at strengthening local manufacturing, reducing reliance on imports and improving supply chains. The project is also expected to create jobs, facilitate technology transfer and support the development of ancillary industries.

"This new plant represents our long-term commitment to Bangladesh. It strengthens our supply capabilities and enhances our ability to deliver innovative, value-added products while contributing to healthier lifestyles and broader economic development," said Go Ichitani, chairman of Lion Kallol.

Lion Corporation, with more than 130 years of business operations, produces a wide range of everyday household and personal care products, including toothpaste and toothbrushes, detergents, soaps, hair and skincare products, and over-the-counter pharmaceuticals.

Its business operations are broadly divided into consumer goods, industrial products and overseas operations, with consolidated net sales exceeding ¥400 billion (around $2.52 billion) as of the 2025 financial year.

Apart from Bangladesh, Lion operates across Asia and other regions through subsidiaries and joint ventures in countries including India, Australia, Vietnam, Thailand, Malaysia, Indonesia, South Korea, China and Singapore.

As of 2025, the firm employs more than 8,000 people worldwide and continues to invest in research, digital transformation and environmentally friendly technologies as part of its long-term growth strategy.

Ghulam Mostafa, managing director of Kallol Group, said the partnership with Lion Corporation would bring advanced technologies and help raise quality standards in the local market.

Takashi Ochiai, director of factory operations, said the facility had been built with strong emphasis on quality assurance, workforce capability and manufacturing discipline, adding that it could also support export markets in the future.

Built on about 3.3 hectares inside the economic zone, the factory is equipped with modern production lines, quality control systems and environmentally compliant processes. The facility was designed and constructed by Shimizu Corporation.

Currently producing fast-moving consumer goods, the plant is expected to employ around 273 workers. According to officials from the Bangladesh Economic Zones Authority, the company has so far invested about $7.6 million, with plans to expand investment to around $19.41 million in the next phase.

Ashik Chowdhury, executive chairman of both the Bangladesh Investment Development Authority and the Bangladesh Economic Zones Authority, told The Business Standard that such investments send a strong signal to the market, noting that investor confidence has improved following the national election.

"Such large-scale investments create a positive signalling effect. We already have several major investment proposals in the pipeline," he said, expressing optimism about stronger inflows this year.

He added that employment generation and skill development remain central to economic zone strategies, with the government extending full support to investors.

Chiharu Tagawa, managing director of BSEZ Ltd, said three companies are currently in production in the zone, including Lion Kallol, while 12 firms have leased land, several of which have begun construction.

Investor interest has increased notably after the election, with fresh enquiries from foreign companies, he said.

A senior official of Lion Kallol declined to disclose sales or growth figures, citing confidentiality, but said the company's presence in Bangladesh is expanding through products focused on hygiene and family care.

"From Kodomo baby care to Mama Lemon dishwashing liquid and Systema oral care, we are proud to serve Bangladeshi households," the official said.

Asian stocks fell and oil prices rose Thursday as the United States and Iran appeared no closer to holding fresh peace talks and Tehran continued to refuse to reopen the Strait of Hormuz.

Hopes that the two would meet for a second round of negotiations in Pakistan have dissipated, with the Islamic republic targeting three container ships in the waterway and citing Washington's blockade as its reason for keeping it closed.

Investors have spent most of the week upbeat that a breakthrough to end the seven-week conflict will be made soon, while healthy earnings and a resumption of the AI trade has also provided support.

Crude prices jumped as much as four percent in early Asian business after global security monitors and Iran's Revolutionary Guards said Iranian forces had seized two ships and fired on a third in the Strait of Hormuz.

Tehran has said vessels must seek permission to leave or enter the Gulf through the waterway, which in peacetime accounts for around a fifth of the world's oil and gas exports along with other vital commodities.

However, the White House said Donald Trump did not consider the move to be a ceasefire violation because the vessels are not American or Israeli.

Meanwhile, Iran's parliament speaker said the Islamic republic would not reopen the Strait as long as the US naval blockade remained, calling it a "blatant violation" of the two countries' ceasefire.

"A complete ceasefire only has meaning if it is not violated through a naval blockade... Reopening the Strait of Hormuz is not possible amid a blatant violation of the ceasefire," speaker Mohammad Bagher Ghalibaf said on X.

Still, Trump's Press Secretary Karoline Leavitt said he "has not set a firm deadline to receive an Iranian proposal" for talks.

"Ultimately, the timeline will be dictated by the commander in chief," she told journalists.

Oil prices remained elevated, with Brent holding above $100 following a surge Wednesday, though they pared Thursday's initial gains.

Most equities fell, though, with Tokyo, Hong Kong, Shanghai, Sydney, Singapore and Wellington all down.

But Seoul rallied more than one percent to a new record thanks to a fresh rally in the tech sector that has been the backbone of a surge in the Kospi index this year.

Taipei, Manila and Jakarta were also up.

"Whether it's conflict fatigue or confidence that the conflict between the US and Iran will be resolved soon, there is limited evidence that the rise in the oil price dampened bond and equity markets," said National Australia Bank's Skye Masters.

However, she added that the Washington Post had reported a senior Defence Department warned it could take six months to fully clear the Strait of Hormuz of mines and that such an operation would probably not unlikely start before the end of the war.

"It is questionable whether financial markets are correctly pricing the reality that supply constraints will remain an issue for some time," she wrote.

Raphael Olszyna-Marzys, of Bank J. Safra Sarasin, added: "Financial markets are pricing a high likelihood that traffic through the Strait of Hormuz will soon normalise.

"Our game-theory model suggests that a narrow agreement to reopen the strait is in both parties' best interests. This outcome remains our base case. But it also reveals that a misreading of the other party's intentions could lead to a further ratcheting-up of tensions before we get there."

Investors took some heart from strong earnings reports, with South Korean chip titan SK hynix posting a nearly 400 percent jump in net profit that hit a record for January-March thanks to the artificial intelligence boom.

That came after Tesla announced forecast-topping first-quarter profits and Texas Instruments offered a healthy outlook.

Bloomberg said almost 80 percent of the S&P 500 firms that have reported first-quarter earnings had beaten analyst estimates so far.

Key figures at 0230 GMT

West Texas Intermediate: UP 0.7 percent at $93.65 a barrel
Brent North Sea Crude: UP 0.6 percent at $102.47 a barrel
Tokyo - Nikkei 225: DOWN 1.1 percent at 58,952.11 (break)
Hong Kong - Hang Seng Index: DOWN 0.9 percent at 25,926.59
Shanghai - Composite: DOWN 0.1 percent at 4,100.38
Euro/dollar: UP at $1.1710 from $1.1709 on Wednesday
Pound/dollar: DOWN at $1.3501 from $1.3506
Dollar/yen: DOWN at 159.41 yen from 159.49 yen
Euro/pound: UP at 86.73 pence from 86.70 pence

Ibn Sina Pharmaceutical Industry PLC reported a strong growth in earnings for the first nine months of the current fiscal year, despite a decline in its third-quarter performance.

According to its price-sensitive information, the company's consolidated earnings per share (EPS) rose to Tk19.94 during the July-March period, marking a 32.75% increase compared to the same period in the previous fiscal year.

The company's board approved the third-quarter financial statements at a meeting held today (22 April) in line with listing regulations. The financials are yet to be audited.

However, in the third quarter alone (January-March), the company's EPS declined by 16% to Tk4.67, down from Tk5.55 recorded in the corresponding period a year earlier.

Meanwhile, the company's consolidated net asset value (NAV) increased to Tk434.61 crore, up from Tk392.69 crore in the previous period.

প্রতি বছর ব্যাংক থেকে যে পরিমাণ মেয়াদি ঋণ দেয়া হয়, তার একটি নির্দিষ্ট অনুপাত (যেমন ২ লাখ কোটি টাকার বিপরীতে ২০-৩০ হাজার কোটি টাকা) পুঁজিবাজার থেকে সংগ্রহের লক্ষ্যমাত্রা মুদ্রানীতিতে থাকা উচিত। এটি বাস্তবায়নে সুদের হার ও করনীতির ক্ষেত্রে কোথায় সমন্বয় করতে হবে এবং কোন কোন খাতকে অগ্রাধিকার দিতে হবে সেটি নির্ধারণে বাংলাদেশ ব্যাংক, এনবিআর ও বিএসইসির মধ্যে সমন্বয়ের প্রয়োজন আছে।

পুঁজিবাজারের বিনিয়োগ জমি বা বন্ডের তুলনায় বেশি ঝুঁকিপূর্ণ। তাই এ ঝুঁকি সামাল দিতে বিনিয়োগকারীদের একটি ‘প্রিমিয়াম’ বা বিশেষ সুবিধা দেয়া উচিত। এক্ষেত্রে পুঁজিবাজারে বিনিয়োগের সময়সীমার ওপর ভিত্তি করে মূলধনি মুনাফার ওপর করহার নির্ধারণ করা উচিত। এক বছর পর্যন্ত বিনিয়োগের ক্ষেত্রে ১৫ শতাংশ, দুই-তিন বছর মেয়াদি বিনিয়োগের ক্ষেত্রে ১০ শতাংশ, চার-পাঁচ বছর মেয়াদি বিনিয়োগের ক্ষেত্রে ৫ শতাংশ এবং বিনিয়োগের মেয়াদ পাঁচ বছরের বেশি হলে শূন্য কর নির্ধারণ করা যেতে পারে।

বিদেশী বিনিয়োগকারীদের প্রধান উদ্বেগের জায়গা হলো মুনাফা প্রত্যাবাসন ও করসংক্রান্ত জটিলতা। এজন্য পুঁজিবাজারে বিদেশী বিনিয়োগ আকর্ষণে কর ব্যবস্থা সহজ করা প্রয়োজন। এক্ষেত্রে শেয়ার বিক্রির পরপরই যেন স্টক এক্সচেঞ্জের মাধ্যমে উৎসে কর কেটে নেয়ার সুযোগ থাকে এবং তাৎক্ষণিক নিষ্পত্তি করা যায় এমন ব্যবস্থা রাখা দরকার।

বাজেটে সম্পদ করের বিষয়টি নিয়ে আলোচনা হচ্ছে। শেয়ারের দাম পরিবর্তনশীল হওয়ায় বছর বছর কর দেওয়ার পর লোকসানে শেয়ার বিক্রি করলে বিনিয়োগকারী বড় ক্ষতির মুখে পড়বেন। সম্পদ করের চাপে বিনিয়োগকারীরা দীর্ঘমেয়াদে শেয়ার না রেখে দ্রুত বিক্রি করে দেবেন, যা বাজারে অস্থিরতা বাড়াবে।মূলধনি মুনাফার ওপর করের পাশাপাশি সম্পদ কর আরোপ করলে বিনিয়োগের সক্ষমতা ও আগ্রহ দুটোই কমে যাবে। তাই শেয়ার ও বন্ডে বিনিয়োগের বিষয়টি সম্পদ করের আওতার বাইরে রাখাটাই যুক্তিসংগত হবে।

Grameenphone, the country's largest telecom operator, reported a 4.40% year-on-year rise in net profit to Tk662 crore in the January-March quarter of 2025, up from Tk634 crore in the same period last year, even as revenue declined.

According to a company disclosure issued today (22 April), the earnings growth was supported by lower depreciation and amortisation costs, reduced finance expenses, and improved operational efficiency across the business.

Despite macroeconomic pressures, earnings per share (EPS) increased to Tk4.90 from Tk4.69 a year earlier, reflecting stronger profitability per share.

Revenue, however, fell 2.0% year-on-year to Tk3,758 crore from Tk3,835 crore, largely due to challenging economic conditions. The decline was partially offset by growth in data services, which helped cushion weaker voice revenue.

The company maintained a strong EBITDA margin of around 58%, although it recorded a slight 1.5% decline year-on-year due to lower revenue. Operating expenses dropped 2%, while cost of goods sold fell 7.3%, indicating tighter cost control without affecting service quality.

Grameenphone's subscriber base stood at 8.42 crore at the end of the quarter, with 4.92 crore users (58.4%) using internet services. Active data users grew 1.7%, while average data consumption rose 5.4% to about 7.7 GB per user, underscoring continued digital adoption.

Chief Executive Officer Yasir Azman said the company remained resilient amid external challenges and continued to invest in network expansion, IT infrastructure, spectrum, and AI-driven transformation. He noted that Grameenphone is advancing towards an AI-first telecom model as part of its broader digital strategy.

He also highlighted the recent acquisition of 700 MHz spectrum, which is expected to improve rural coverage and strengthen indoor connectivity, helping bridge long-standing service gaps and support future data demand.

Chief Financial Officer Otto Risbakk said that while revenue was affected by macroeconomic pressures, disciplined cost management helped sustain profitability. He added that earnings quality improved during the quarter, with efficiency gains achieved without compromising customer experience or network performance.

In 2025, the company declared a 105% final cash dividend, bringing total dividend payout to 215%, including the interim dividend, reflecting strong cash generation despite a challenging operating environment.

However, on a full-year basis, Grameenphone's profit after tax declined 18.53% year-on-year to Tk2,958 crore in 2025, down from Tk3,631 crore in 2024, as weaker consumer spending, rising costs, and cautious business activity weighed on earnings.

Retail sales in the United States soared past expectations in March, government data showed Tuesday, as gasoline prices surged on fallout from war in the Middle East.

Sales rose by 1.7 percent from the prior month to $752.1 billion, more than analysts expected -- its biggest jump in a year, Commerce Department data showed.

From a year ago, retail sales bounced 4.0 percent.

The acceleration came on the back of a 15.5 percent month-on-month increase in gasoline station sales, as energy costs climbed in March.

US-Israeli strikes targeting Iran from February 28 triggered Tehran's retaliation in virtually blocking the Strait of Hormuz, a key waterway for energy transit.

Since then, oil and gas prices have surged, and gasoline costs have risen in the world's biggest economy as well.

Steeper costs -- which have added pressure on households and businesses -- have in turn fueled fears of a broader inflation uptick, and an impact on consumer demand and growth.

Excluding gasoline stations, overall retail sales were up by just 0.6 percent on a month-on-month basis.

"The war-driven spike in gas prices drove the surge in headline retail sales in March," said economist Nancy Vanden Houten of Oxford Economics.

Beyond that, however, sales were likely boosted by "this year's surge in income tax refunds," she added in a note.

She warned: "The tailwind from a blockbuster refund season will fade soon, causing households to cut back on discretionary spending as energy costs remain high."

Chris Zaccarelli, chief investment officer at Northlight Asset Management, expects that further resilience in consumer spending would depend on the health of the jobs market.

Among other categories, sales at motor vehicles and parts dealers picked up by 0.5 percent from a month ago, while those at food and beverage stores climbed by 0.7 percent.

Load-shedding is expected to intensify in the coming days after a unit at Adani Power went offline early yesterday (22 April), slashing electricity imports by almost half and placing additional strain on an already stretched power system grappling with coal shortages and limited gas supply.

According to the Bangladesh Power Development Board (BPDB), a technical fault forced Unit-1 of the Adani Power plant to go offline at 1am yesterday, cutting electricity imports from roughly 1,500MW to 764MW.

The national grid remains under severe pressure as generation continues to fall short of the critical 15,000MW peak demand threshold.

Data from Power Grid Bangladesh shows that power generation reached only 13,198MW against a projected demand of 15,200MW at 1am yesterday.

The nearly 2,000MW deficit – aggravated by rising summer temperatures – mirrors a similar gap recorded last Monday and highlights the system's continuing struggle to stabilise supply.

The outages have disrupted industry and daily life, with rural communities facing the longest blackouts.

Load-shedding varies widely across regions, ranging from around 28% in Gazipur to more than 45% in Savar, while Sylhet is experiencing outages of about 40%. In many areas, electricity is going out several times a day for hours, with rural regions enduring outages lasting seven to ten hours.

BPDB chairman Md Rezaul Karim told The Business Standard the shutdown was caused by a bearing issue linked to the boiler's air preheater.

"Rising vibration in the air preheater bearing prompted the shutdown to prevent further damage," he said.

"Adani has informed us that it may take at least three to four days to bring Unit-1 back online," a BPDB official said.

Data from Power Grid Bangladesh shows that supply from Adani had already fallen to 1,109MW before the shutdown and dropped further to 764MW by 2am as only one unit remained operational.

Yesterday, peak demand during the day was projected at 15,450MW, while generation stood at only 13,112MW, leaving a shortfall of more than 2,338MW.

BPDB officials warned that the disruption in Adani supply could further widen the gap between demand and supply in the coming days.

April-May generation plan under strain

The BPDB had earlier planned to generate more than 17,500MW during April and May to meet peak summer demand. Under that plan, 5,600MW was expected to come from gas, 6,000MW from coal, 1,435MW from Adani Power, 3,500MW from liquid fuel and around 1,000MW through HVDC power imports.

Gas-fired plants – the backbone of Bangladesh's power system – are currently operating far below capacity due to gas shortages.

BPDB data shows gas supply to power plants stood at about 891.6 million cubic feet per day (mmcfd) on 21 April, producing between 4,600MW and 5,000MW of electricity.

Although installed gas-based capacity is around 11,000MW, actual generation rarely exceeds 5,000-5,100MW under current supply conditions.

Officials say that an additional 100-150mmcfd of gas could raise generation close to 6,000MW, but such an increase remains uncertain amid the continuing supply crisis.

Coal plants hit by supply shortage

Coal-fired power generation is also under pressure due to coal shortages. While the earlier plan aimed for 6,000MW from coal plants, actual output has remained far lower, hovering between 4,500MW and 4,600MW.

At 4pm yesterday, electricity generation from coal plants stood at 4,605MW.

The decline in output from the 1,320MW SS Power plant has also complicated efforts to manage load-shedding during the hot and humid days of April. The plant is currently operating below capacity because of a coal shortage, with one unit offline and another producing only about 300MW.

According to BPDB, SS Power is a reliable plant to meet summer demand, but coal shortage forced it to run under capacity. Officials said supply from the plant could improve next week after new coal shipments arrive, expected by Sunday.

One unit of the 1,320MW Patuakhali power plant is also operating below capacity, generating only about 300MW, while the second unit has yet to be commissioned.

Meanwhile, the 1,200MW Matarbari power plant is generating around 900-950MW.

Despite a plan to produce 3,500MW from liquid fuel-based plants, the BPDB has adopted a cautious approach to using furnace oil due to concerns over global fuel supply uncertainties.

Data from Power Grid Bangladesh shows that generation from heavy fuel oil (HFO) plants reached 2,944MW during the evening peak on 13 April.

Other sources and imports

Yesterday, the power generation mix included about 5,096MW from gas, 4,559MW from coal and around 900MW from furnace oil plants, along with smaller contributions from hydro, solar and wind.

Electricity imports included 922MW through HVDC links and 188MW from Tripura, in addition to about 751MW from the Adani plant after the disruption.

BPDB officials warned of a widening power deficit as shortages of gas and coal, coupled with the underutilisation of furnace oil-based plants, strain the grid.

With demand projected to climb in the coming weeks, officials further cautioned that outages could intensify nationwide unless fuel supplies stabilise and the Adani unit is swiftly restored to service.

The US-Israeli war with Iran and the closure of the Strait of Hormuz have caused the biggest oil supply disruption on record by daily output lost, though at least one earlier shock had a greater cumulative impact, according to Reuters calculations based on International Energy Agency and US Department of Energy data.

The IEA said on Tuesday that the conflict is the worst energy crisis the world has faced, when combined with the tail end of the European gas crisis caused ​by Russia's invasion of Ukraine in 2022.

The scale of the disruption has revived comparisons with past energy shocks, from the 1973 Arab oil embargo to the Iranian Revolution and the 1991 Gulf War, while underscoring how ‌much global energy markets have changed.

A DIFFERENT KIND OF ENERGY SHOCK

Unlike earlier crises, the Iran war has simultaneously hit crude, natural gas, refined fuel and fertiliser supplies, exposing new vulnerabilities created by decades of rising demand, deeper global trade links and the Middle East’s expanded role as a supplier of finished fuels.

Earlier energy shocks of the 1970s caused lasting economic damage, weakened governments and remain etched in the memory of citizens in industrialised nations such as the United States, which faced months of fuel supply shortages and queues at the gas pumps.

The IEA was established in the wake of the Arab ​oil embargo to advise industrialised countries on energy supply and security. The IEA also manages its members' emergency oil stocks and has responded to the crisis by releasing a record 400 million barrels from strategic stockpiles to stabilise oil ​prices and offset lost Middle Eastern supply.

HOW DOES THE CURRENT DISRUPTION COMPARE BY SCALE?

The peak supply loss from the current crisis stands at more than 12 million barrels per day, the IEA ⁠said earlier this month. That is equivalent to 11.5 percent of global oil demand, which this year is expected to average around 104.3 million bpd.

The outright daily supply loss is larger than earlier peak supply losses of 4.5 million bpd during the 1973-74 Arab ​oil embargo and of 5.6 million bpd during the Iranian Revolution in 1978-79 combined, the IEA said. It is also higher than the estimated peak supply losses of 4.3 million bpd during the 1991 Gulf War, the IEA said.

The Iran war has also triggered ​the shutdown of roughly a fifth of the world's liquefied natural gas production in Qatar. The world consumes much more gas than it did during the oil shocks of the 1970s-1990s. During the Arab oil embargo and the Iranian Revolution, the LNG industry was nascent. Qatar first exported LNG in 1996.

The current disruption also extends beyond crude and gas into fuel markets. The US-Israeli war on Iran has disrupted millions of barrels per day of fuel production and exports from refineries in the Gulf, triggering shortages of jet fuel and diesel. Huge refineries built inside the Gulf in recent decades ​are key to global fuel supplies. They send jet fuel to Africa, Europe and Asia, for example.

HOW DO DURATION AND LOSSES COMPARE WITH PAST SHOCKS?

The International Energy Agency did not immediately respond to a Reuters request for comment on how the current disruption ​compares with earlier energy shocks in terms of cumulative supply losses.

In the absence of official comparisons, Reuters assessed cumulative losses by calculating the scale and duration of major supply disruptions.

Based on that approach, the current conflict has lasted 52 days and removed an estimated 624 million barrels ‌from the market, ⁠assuming a loss of 12 million barrels per day over that period, according to Reuters calculations.

Even if a peace deal is reached quickly, supply disruptions are expected to persist for months and, in the case of gas, for years, pushing the final cumulative impact significantly higher.

The IEA says the 1978-79 Iranian Revolution resulted in a peak loss of 5.6 million bpd, smaller in scale than the current disruption. The revolution, however, led to a larger cumulative loss, according to Reuters calculations.

According to the US Department of Energy, the revolution caused an average drop of 3.9 million bpd in Iran's crude oil production from 1978 to 1981 - a loss of some 4.27 billion barrels over three years according to Reuters calculations - although the Energy Department says much of this loss was compensated by Iran's Gulf ​neighbours.

During this crisis, the countries with spare capacity - Saudi Arabia, the ​United Arab Emirates - have been unable to compensate - because ⁠they themselves have been hit by the halt in shipments through the Strait of Hormuz.

Oil journalist and author Ian Seymour estimates Iran pumped an average of 3.1 million bpd during 1979 compared to 6 million bpd in late 1978 - resulting in a cumulative loss of over 1 billion barrels in 1979 alone.

During the 1973-1974 Arab oil embargo, producers took three months to reach full production cuts ​of 4.5 million bpd. The embargo lasted from October 1973 to March 1974, resulting in around 530 million to 650 million barrels of lost production, according to Reuters calculations. That ​would mean the Arab oil embargo was ⁠comparable in its cumulative impact to the disruption caused by the US-Israeli war on Iran.

SHORTAGES IN ASIA, AFRICA

The current crisis has played out initially in shortages of supply to Asia and Africa. Top oil consumer the United States was much harder hit by the Arab oil embargo, which led to motorists enduring long lines for gasoline. The disruption lasted months and sparked an overhaul of energy policy and a rethinking of what constituted energy supply security.

The 1991 Gulf War, which disrupted oil output for four months according to a government document from ⁠IEA member Australia, resulted ​in a cumulative loss of at least 516 million barrels according to Reuters calculations assuming losses at 4.3 million bpd over that time, making the ​cumulative losses smaller than the current crisis and the Arab oil embargo.

Russia's invasion of Ukraine in 2022 triggered a global energy crisis as European countries scrambled to reduce their dependence on Russian oil and gas.

Russian oil output declined by 9 percent in April 2022, according to the US Energy Information Administration, or roughly 1 million ​bpd and much smaller than the current disruption. Russia's output stabilised in later months as Moscow rerouted exports to counter Western sanctions, although in 2026 Ukrainian drone attacks are causing output cuts.

A Norwegian-flagged vessel, Huelva Knutsen, carrying 60,000 tonnes of liquefied natural gas (LNG) from Nigeria, anchored at the FSRU terminal in Moheshkhali this morning (22 April).

Cargo unloading from the vessel began in the afternoon, said Nurul Alam, Deputy General Manager of local shipping agent Uniglobal.

He added that the unloading process may take two to three days to complete.

Meanwhile, the Chattogram Port Authority said another LNG-laden vessel, La Seine, carrying 69,196 tonnes of LNG from the United States, is expected to arrive at Moheshkhali on Friday (24 April).

Earlier, two LNG vessels arrived at Moheshkhali, one from Angola carrying 69,015 tonnes on 18 April, and another from Australia with 64,679 tonnes on 16 April.

India's textile exports increased by 2.1 % from Rs 3,09,859.3 crore in Financial Year 2024–25 to Rs 3,16,334.9 crore in FY 2025–26 with readymade garments being the top contributor, official data released today (22 April) said.

RMG exports rose from Rs 1,35,427.6 crore in 2024-25 to Rs 1,39,349.6 crore in 2025-26, an increase of 2.9%.

Cotton yarn, fabrics, made-ups and handloom products recorded exports of Rs 1,02,399.7 crore in FY 2025–26 as against Rs 1,02,002.8 crore in FY 2024–25, a growth of 0.4%, said the Textile Ministry of India.

Man-made yarn, fabrics and made-ups posted a stronger growth of 3.6%, with exports increasing from Rs 41,196.0 crore to Rs 42,687.8 crore.

Among value-added segments, handicrafts, excluding handmade carpets, recorded the highest growth among major categories, rising by 6.1% from Rs 14,945.5 crore to Rs 15,855.1 crore.

Export growth was registered in more than 120 destinations during April 2025 to February 2026 over the corresponding period of the previous year, indicating broad-based geographical expansion in India's textile export basket.

A notable growth has been observed in markets like the UAE (22.3%), the UK (7.8%), Germany (9.9%), Spain (15.5%), Japan (20.6%), Egypt (38.3%), Nigeria (21.4%), Senegal (54.4%), and Sudan (205.6%).

Prime Minister Tarique Rahman has said effective initiatives have been taken to introduce the much-anticipated online payment gateway PayPal to create large-scale employment through the expansion of information technology in the country.

He said this in response to a question from treasury bench lawmaker from Natore-4 Md Abdul Aziz in parliament on Wednesday (22 April), with Speaker Hafiz Uddin Ahmed in the chair.

The prime minister informed that a master plan has been adopted to issue identity (ID) cards to 200,000 freelancers over the next five years and to train several thousand youths in advanced technologies.

Tarique said various organizations and departments under the Information and Communication Technology (ICT) Division have undertaken multiple plans and activities aimed at generating employment through the expansion of IT.

He said the Department of ICT will impart training to 1,000 individuals over five years to develop them as freelancers and provide ID cards to 200,000 freelancers during this period.

A total of 7,500 freelancers have already been issued ID cards, and the programme is ongoing, he added.

The prime minister said 2,400 people will be trained in advanced technologies such as artificial intelligence (AI), machine learning (ML), and virtual reality in 2026 through the Bangladesh Hi-Tech Park Authority.

To accelerate investment and employment, 83 services are currently being provided online, with plans to add 10 more services within the next year, he said.

Tarique said a committee has already been formed to ensure the effective operation of hi-tech and software parks and ICT centres, and to take necessary steps for launching PayPal services in Bangladesh.

He said over the next five years, around 1,000 undergraduate and graduate students will receive IT training in 20 batches through the Bangladesh Computer Council (BCC).

Initiatives have also been taken to provide training to 5,020 job-seekers and students in areas such as AI, mobile app development, Python programming, data analytics, and cyber security, including short courses as well as one-year diploma and postgraduate diploma programmes, he mentioned.

The prime minister said initiatives have also been taken to provide basic computer training to about 700 persons with special needs to help them become self-reliant.

Additionally, around 700 women entrepreneurs will receive skills development training under the "Women in ICT Frontier Initiative" to create employment opportunities, he said.

Highlighting ongoing programmes, the prime minister said that under IT training initiatives, 300 students from 15 universities are currently receiving training in the April 2026 session.

He also noted that training has been completed for 40 persons with special needs in basic computer skills and for 20 women entrepreneurs in Wi-Fi-related skills development.