For Bangladesh, where rising temperatures are increasingly threatening the health and productivity of garment workers, a new heat stress management toolkit from the American Apparel and Footwear Association (AAFA) offers manufacturers and global brands a framework to address heat risks in factories.

The toolkit, launched at Cascale’s Annual Meeting 2026 in Athens, Greece, recently, aims to help manufacturers and brands manage heat stress in workplaces.

Rising temperatures are making it difficult for workers to cope with heat generated by heavy machinery, particularly in factories with inadequate cooling systems and ventilation and unhealthy working environments.

The AAFA recommends setting maximum thresholds for workplace heat and implementing structural measures to prevent or reduce heat stress.

It also suggests adjusting workloads, water and bathroom breaks according to heat conditions, and establishing heat stress education and medical monitoring programmes to help workers, supervisors and health staff identify and prevent heat-related illnesses.

The association further recommends regular discussions between buyers and suppliers to reduce heat stress and share responsibility for its impact on workers, suppliers and buyers during extreme heat days.

“As extreme heat becomes an increasingly common reality worldwide, our industry must act to protect the workers who are at the heart of our supply chains,” said AAFA Executive Vice President Nate Herman in an AAFA statement.

Brands and manufacturers should share responsibility for the investments and potential disruption involved in building resilience, creating the commercial conditions needed to protect workers, the AAFA said.

The risks of extreme heat in Bangladesh are exacerbated by the country’s high-humidity climate, labour-intensive economy and limited financial capacity for adaptation, according to a study by Climate Rights International (CRI) referred to by the AAFA.

A recent study by the Global Labor Institute at Cornell University found that, over the past two decades, 17 of 23 apparel production centres studied recorded increases of more than 10 percent in the average number of days with temperatures of 35°C (95°F) or more.

A separate Cornell study, released on September 21, found that heat stress was associated with an average 4.1 percent loss in working-time productivity across eight garment factories studied in Bangladesh.

Addressing high heat stress across Bangladesh’s apparel export industry would require an estimated $239 million in capital expenditure, equivalent to 0.2 percent of 2025 apparel export revenue if spread over three years, the study said.

Global Labor Institute says that Dhaka experienced a seven-month heat-stress season in 2025, describing it as “the new norm.”

Back in 2020, an estimated 70 million workers in Bangladesh were exposed to excessive heat on the job, a 51 percent increase over the previous 20 years, according to CRI, citing International Labour Organization (ILO) calculations.

Heat-related labour losses in Bangladesh were also more than two-and-a-half times the global average as of 2020.

Without adequate adaptation measures, Bangladesh is projected to lose 4.84 percent of working hours by 2030 due to heat stress, equivalent to 3.8 million full-time jobs, according to research cited by CRI.

The ILO estimated that excessive workplace heat is linked to 18,970 deaths and 22.85 million occupational injuries.

The ILO has described heat stress as “an invisible killer” because it can cause sudden and severe illnesses, such as heatstroke, as well as chronic and debilitating diseases affecting the cardiovascular and respiratory systems and kidneys.

Md Towhidur Rahman, president of Bangladesh Apparel Workers Federation, said he was not aware of the AAFA’s heat stress toolkit yet, but his organisation has been conducting training on heat and other just transition-related issues for workers over the last few years.

Because climate change has been causing floods, droughts, stagnation and water-borne diseases, workers are directly affected and are victims, and the issue must be jointly addressed by international retailers and brands along with local manufacturers, Towhidur said.

Mahmud Hasan Khan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said the AAFA had not sent any letter to the BGMEA officially yet, although many individual factories had received such instructions from their buyers.

Heat stress in the workplace during certain seasons, especially in summer in Bangladesh, is a health risk for workers as temperatures rise, he said.

Mongla Port, the country's second-largest seaport, earned a record revenue of Tk 387.95 crore in the 2025-26 fiscal year, exceeding its target by Tk 40.08 crore.

The port had set a revenue collection target of Tk 347.87 crore for the fiscal year.

Mongla Port Authority (MPA) Chairman Rear Admiral Arif Ahmed Mostafa disclosed the figures at a meeting with journalists from Bagerhat and Mongla press clubs at the port authority auditorium yesterday (22 September).

He said the port also recorded growth in vessel arrivals, cargo handling and container handling during the fiscal year.

A total of 815 vessels arrived at Mongla Port in FY2025-26.

Against a cargo-handling target of 91.50 lakh metric tonnes, the port handled 1.2251 crore metric tonnes, an increase of 18.39 lakh tonnes or 17.66 percent from the previous fiscal year.

Container handling also rose significantly. Against a target of 25,000 TEUs, the port handled 29,714 TEUs, up 8,258 TEUs or 38.49 percent year-on-year.

During the fiscal year, 12,075 reconditioned vehicles were imported through Mongla Port, 496 more than in the previous fiscal year.

The chairman said the authority was holding regular consultations with port users, stakeholders, shipping agents, C&F agents, stevedores and businesses to improve port operations. Activities are also continuing through the Internal Business Development Standing Committee to increase vessel arrivals.

According to the MPA, Mongla currently has annual handling capacities of 1,500 vessels, 15 million metric tonnes of cargo, 100,000 TEUs of containers and 20,000 vehicles.

Several projects are underway to further expand the port's capacity, including the procurement of support vessels, upgrading of port facilities and construction of container terminals and yards.

Under a support vessel procurement project, the acquisition of two tugboats, a buoy-laying vessel, a search-and-rescue vessel, a pilot mother vessel and a survey-and-research vessel is at the final stage. The project is scheduled for completion by June 2027.

Under the Upgrade of Mongla Port project, financed through India's Line of Credit-3, plans include constructing two container terminals, a container-handling yard and a delivery yard equipped with modern machinery.

The chairman said implementation of the projects would create additional employment opportunities in shipping, C&F, stevedoring and other port-related sectors.

He said a modern waste-management project for collecting waste generated by ships and industries and removing discharged oil was completed in June 2025. The initiative is expected to reduce pollution in the Pashur Channel and surrounding waterways and help protect the Sundarbans.

Maintaining navigability along the port's 144-kilometre channel remains a major challenge, he said. Other priorities include ensuring safe and pollution-free navigation, replacing ageing support vessels, procuring new vessels, developing skilled manpower and encouraging greater use of Mongla Port.

The authority is also working to establish Mongla as a direct "first calling port", increase container vessel arrivals, introduce direct feeder services to major ports including Singapore, and improve road connectivity along the Khulna-Mongla and Khulna-Bhanga routes.

Rear Admiral Arif Ahmed Mostafa said the government's broader plan is to enhance Mongla Port's capacity and accelerate trade and economic activity in the country's southwestern region.

Prime Minister Tarique Rahman and his Croatian counterpart, Andrej Plenković, discussed ways to strengthen bilateral relations and expand trade, investment, and cooperation in areas of mutual interest during a meeting in New York on Wednesday (23 September).

The bilateral meeting took place on the sidelines of the 81st session of the United Nations General Assembly at UN headquarters, according to a Facebook post by the Prime Minister's Office.

The two leaders emphasised expanding cooperation in economic relations, trade and investment, skilled manpower, education, technology and other areas with potential for collaboration, according to the post.

They also stressed the need to strengthen cooperation between Bangladesh and Croatia at the United Nations and other multilateral forums, as well as enhance coordination on international issues of mutual interest.

The Bangladeshi Taka has strengthened significantly against the Indian rupee over the past two years, gaining around 11.6 percent in value against the Indian currency, including a 7.6 percent gain over the past year compared to September 22, 2025.

According to exchange-rate data, Tk 1 was equivalent to around ?0.781 on September 22, 2026, compared to about ?0.726 on September 22, 2025 and around ?0.700 on September 22, 2024.

This means that the Taka gained around 5.5 Indian paisa against the rupee during the one-year period, raising its purchasing power against the Indian currency by approximately 7.6 percent.

In terms of the reverse exchange rate, one Indian rupee was worth around Tk 1.281 on September 22, 2026, compared to Tk 1.3782 a year earlier. Thus, the amount of Taka required buying one Indian rupee declined by around Tk 0.0972, or about 7.1 percent, over the year.

On September 22, 2024, one Indian rupee was worth Tk1.4292. Against that level, the Taka has gained approximately 11.6 percent against the Indian currency over the past two years.

The year-on-year movement is therefore particularly notable, as the Taka's value increased from around ?0.726 per Taka on September 22, 2025 to around ?0.781 on September 22, 2026, representing a gain of approximately 7.6 percent.

The latest Bangladesh Bank data also indicate continued strength of the Taka against the Indian rupee in the foreign-exchange market.

Bangladesh Bank reported an INR cross rate of Tk 1.2789 to Tk 1.2796 per Indian rupee on September 21, 2026, equivalent to roughly ?0.781 to ?0.782 per Taka.

The exchange-rate movement means that one Indian rupee now buys fewer Taka than it did a year earlier, while one Taka buys more Indian rupees.

Talking to BSS, Bangladesh Bank Executive Director and Spokesperson Arif Hossain Khan said the strengthening of the Taka against the Indian rupee could have a positive impact on Bangladesh-India economic and trade relations, particularly by reducing the local-currency cost of imports from India.

He said a stronger Taka means Bangladeshi importers may need to spend comparatively fewer Taka to purchase the same amount of Indian goods and services, provided other factors, including international prices, transportation costs and trade-related charges, remain unchanged.

“This development can help reduce the Taka cost of Indian goods and services for Bangladeshi importers. It can also lower the local-currency cost of expenses for Bangladeshis travelling to India,” he said.

For Bangladesh-India trade, Arif Hossain Khan said the movement of the exchange rate could influence the overall local-currency cost of imports from India.

If the Taka remains relatively stronger against the Indian rupee, importers may benefit from a lower Taka requirement for settling payments denominated in Indian currency, he added

He said the exchange-rate movement could also provide some relief to businesses importing raw materials, industrial inputs, machinery and other products from India, as the currency component of their import costs may become relatively lower.

At the same time, he noted that the actual impact on market prices would depend on several other factors, including the prices of imported commodities, freight and logistics costs, tariffs and taxes, and the pricing decisions of importers and traders.

The Bangladesh Bank spokesperson said the exchange rate is one of the factors influencing the cost of cross-border trade, and movements in the Taka-rupee rate should therefore be viewed in the broader context of bilateral trade and foreign-exchange market developments.

He also said a stronger Taka against the Indian rupee could benefit Bangladeshi travelers to India by reducing the Taka equivalent of expenses such as accommodation, food, transportation and other local payments, depending on prevailing market rates.

However, he stressed that exchange-rate movements alone do not determine the final prices of imported goods or the overall cost of travelling abroad, as other domestic and international market factors also play a role.

Arif Hossain Khan said Bangladesh Bank continues to monitor developments in the foreign-exchange market and exchange-rate movements to maintain stability and support an orderly foreign-exchange market.

The cost of migrating to Saudi Arabia, the largest destination for Bangladeshi workers, has risen further after the fee for the mandatory Skill Verification Programme (SVP), widely known as Taqamul, was increased to $85 from $50 in early September.

The increase comes despite Bangladesh's efforts to reduce the testing fee, adding to costs migrant workers already bear for visas, medical tests, training and other procedures.

While employers were initially expected to pay the SVP fee, workers are now paying it themselves, according to sector insiders.

The additional cost is particularly significant for cleaners, load-unloaders and other low-skilled workers, who account for nearly 80% of Bangladesh's Saudi-bound employment, according to the Bureau of Manpower, Employment and Training (BMET).

On the matter, State Minister for Expatriates' Welfare and Overseas Employment Nurul Haque Nur told TBS, "Since the Saudi side is conducting the examination, we have limited scope to intervene in the matter."

"Saudi Arabia has always given special consideration to Bangladesh, and a large number of Bangladeshi workers go there. So, if the fee has been increased to some extent based on their requirements, we should look at the matter accordingly, particularly because Saudi Arabia is providing significant employment opportunities for our workers," he added.

TBS contacted the Saudi Embassy in Dhaka and emailed it on 16 September seeking its response on the fee increase, as instructed by the embassy. However, it had not responded by the time the report was filed.

Around 447,572 aspiring migrant workers had taken the SVP test as of 16 September, since its introduction in mid-2023, paying more than Tk273 crore to the Taqamul authority. Of them, 122,909, or more than 27%, failed the test. Workers who fail and retake it must pay the fee again.

The rising costs are particularly concerning as wages for many low-skilled Bangladeshi workers in Saudi Arabia have remained unchanged for the past three years despite the mandatory SVP, labour recruiters said.

Recruiting agencies estimate that additional charges introduced in recent months, including Taqamul, have added Tk11,064-Tk14,470 to an individual worker's costs, on top of migration expenses that can already reach Tk3.5-5 lakh.

The financial burden continues after arrival.

According to sector insiders, workers can also face Iqama-related expenses of around 9,700-11,000 Saudi riyals, although such employment-related costs are generally supposed to be borne by employers. An Iqama is a residence permit issued to foreign nationals, serving as both a work permit and identification card.

Workers unable to meet the expenses risk falling into undocumented status.

While Taqamul was introduced to ensure workers have the skills required by the Saudi labour market, industry representatives question whether mandatory certification is justified for jobs such as cleaning and loading and unloading.

Yesterday, several former leaders of the Bangladesh Association of International Recruiting Agencies (Baira) submitted a four-point memorandum to the expatriates' ministry.

Their demands include withdrawing the mandatory skill test for workers in the cleaner and general labour categories.

They also called for the immediate cancellation of the recent Tk2,000 increase in the Wage Earners' Welfare Board fee per worker. On 20 September, the ministry raised the fee from Tk3,500 to Tk5,500, further increasing the cost of migration.

Fee rose despite Bangladesh seeking a reduction

On 24 November last year, former expatriates' welfare secretary Neyamat Ullah Bhuiyan held a meeting with officials of Taqamul Holding in Riyadh.

He told them the $50 test fee and $50 retake fee were an additional burden on financially constrained Bangladeshi workers and requested a reduction or waiver.

Senior Taqamul official Adel Al-Furaidi said the proposal would be considered but stressed that the certificate was mandatory. About a year later, the fee rose 70% to $85.

Muhammad Abdul Quader, proprietor of Quader Associates, said the fee could rise further.

"Now they have increased the rate to $85 from $50. The way it goes, they would increase it gradually to $100 and then more," he said.

He said a Saudi employer had also questioned why Bangladesh remained silent over a test that was increasing workers' migration costs. "It is totally unnecessary to verify unskilled workers through a certification process," Quader said.

Meanwhile, TTC sources claimed that of the previous $50 fee, $13 went to the BMET and $37 to Saudi Arabia. When asked about the current breakdown of the $85 fee, officials were unable to clarify.

Low-paid workers paying more

The extra testing cost has not translated into higher wages, according to recruiting agencies. Low-skilled workers such as cleaners and construction workers generally earn Tk25,000-Tk30,000 a month, while semi-skilled workers earn around Tk40,000.

Jahangir Alam, who is seeking a hospital cleaner's job in Saudi Arabia, paid $85 for the mandatory test in early September but failed. Six other workers taking the test through the same agency also failed. He passed on his second attempt after paying the same fee again.

"I am going abroad for a salary of 800 Saudi riyals (over Tk26,000). I have had to borrow money and take out loans to cover my migration costs of Tk3.5 lakh," he told TBS.

Baira former joint secretary-general Fakhrul Islam also questioned the need for a computer-based test for cleaners, general labourers and helpers. "Many of them do not have specific technical skills. Yet they have to sit for a computer-based test," he said.

"If the skill test resulted in higher wages, there would be some justification. But their salaries have not increased. Cleaners and general workers earn 800-1,000 riyals, while semi-skilled workers get around 1,200-1,300 riyals. So what benefit are they getting?"

Shakirul Islam, chairman of the grassroots migrant-rights organization Ovibashi Karmi Unnayan Program (Okup), said, "Skill verification has turned into a lucrative business. On paper, authorities claim that skilled workers are going abroad. In reality, I have spoken to many loading and unloading workers who migrated without any skill upgrades."

"As migration costs continue to rise, it only deepens the exploitation of our workers," he added.

Bangladesh sent 533,885 workers abroad until 15 September this year, with 294,093, or more than 55%, going to Saudi Arabia.

Saudi Arabia currently hosts more than 32 lakh Bangladeshis, according to an unofficial estimate. It is also Bangladesh's largest source of remittances, with inflows from the country rising to $5.84 billion in FY2025-26 from $4.26 billion in the previous fiscal year.

Training costs add to the burden

To help workers prepare for the Taqamul examination, selected government technical training centres offer a three-day preparatory course for Tk2,000.

By comparison, three-month technical courses in electrical, automobile and computer technology at government TTCs cost around Tk748, according to sector insiders.

Asked why workers are charged the preparatory course when technical courses at government TTCs cost less than half that amount, BMET Additional Director General (Training) Md Sharifuzzaman told TBS, "The fee for each course is determined based on its necessity. I am new here, so I will look into whether there are any abnormalities."

Saudi Arabia initially introduced the SVP in Bangladesh for skilled trades such as plumbing, electrical work, welding, refrigeration and automobile electrical work. The programme was later expanded to 73 occupations, including cleaning and loading-unloading jobs.

In mid-2025, the Saudi Embassy in Dhaka stopped issuing visas to cleaners and load-unloaders without SVP certificates.

Taqamul is not the only additional cost for Saudi-bound workers. Saudi Arabia launched a separate visa-processing system in mid-2023, requiring Bangladeshi workers to visit the Tasheer centre at Jamuna Future Park for biometric procedures.

Tasheer, formerly known as Tasheel or VFS Tasheel, is the official global visa service centre appointed by the Saudi Ministry of Foreign Affairs. Industry insiders said fingerprinting costs around Tk694, while a premium service costs about Tk2,100.

Bangladesh’s recent easing of inflation may prove short-lived, with higher fuel prices, the new public-sector pay scale, energy shortages, and persistent supply-side problems threatening to keep price pressures elevated.

The Asian Development Bank (ADB) yesterday raised its inflation forecast for Bangladesh to 9 percent for FY2026-27, from 8.8 percent projected in July, placing the country among the highest-inflation economies in Developing Asia and the Pacific region.

The forecast comes at a difficult moment for the economy, with diesel prices recently increased, a new public-sector pay scale taking effect, and global energy markets remaining volatile amid prolonged tensions in the Middle East.

Economists argue that Bangladesh’s inflation problem runs deeper than external shocks, with policy measures failing to fully rein in prices.

The Bangladesh Bank’s Monetary Policy Committee, however, yesterday decided to keep the policy rate unchanged at 9.5 percent, saying it wanted to assess the impact of domestic and global shocks before making any further move. The policy rate is the central bank’s key interest rate and is used to influence borrowing, spending and inflation.

Bangladesh’s point-to-point inflation fell to 8.26 percent in August from 8.32 percent a month earlier, according to the Bangladesh Bureau of Statistics. The rate, however, remains well above the government’s FY27 target of 7.5 percent.

The ADB now expects Bangladesh to record the fourth-highest inflation rate among 43 developing economies in Asia and the Pacific, behind only Turkey, Myanmar and Kazakhstan.

In South Asia, Pakistan is next at 8.3 percent, while India’s inflation is projected at 4 percent.

The immediate concern is the transmission of the recent fuel price hike through the wider economy.

The government raised the prices of diesel, petrol, octane and kerosene by Tk 20 a litre effective September 21. Diesel, widely used in freight transport, public transport, irrigation and industry, rose 17.4 percent to Tk 135 a litre.

The ADB, in the latest Asian Development Outlook, said higher energy and shipping costs were already feeding into domestic prices through more expensive imports.

It also identified energy shortages, higher transport costs and potential shipping disruptions as major sources of inflationary pressure.

“Rising global energy and shipping costs have transmitted directly into Bangladesh’s domestic market via elevated import prices,” the lender said.

The impact of the fuel adjustment is likely to spread well beyond filling stations, as higher diesel costs raise freight, irrigation and production expenses and ultimately the cost of moving goods from producers to consumers.

The central bank’s Monetary Policy Committee also flagged the risk. In its latest meeting, it noted that international energy prices remain volatile amid the prolonged Middle East conflict.

The new fuel prices and implementation of the new pay scale could add to inflationary pressure, it added.

That leaves policymakers with a difficult trade-off, according to Zahid Hussain, former lead economist at the World Bank’s Dhaka office.

“There is no painless option,” he said.

Keeping fuel prices unchanged would have meant allowing Bangladesh Petroleum Corporation (BPC) to absorb mounting losses, Zahid said.

Financing those losses through bank borrowing would put further pressure on the banking system, while government subsidies would strain already tight public finances, he said.

At the same time, if BPC cannot finance fuel imports and open letters of credit, the resulting supply disruption could itself push prices up sharply, the economist added.

POLICY ‘NOT TIGHT ENOUGH’

Zahid said external shocks alone do not explain why inflation has remained elevated in Bangladesh for so long.

The Russia-Ukraine war, global energy-price shocks and other disruptions affected economies across the world, but many of them saw inflation rise sharply and then ease, he said.

Bangladesh’s problem is that the transmission of those shocks has been amplified by domestic policy and supply-side weaknesses.

From an inflation-control perspective, neither monetary nor fiscal policy has been as restrictive in practice as it appears on paper, Zahid said.

Although the policy rate has remained high, Bangladesh Bank has simultaneously provided liquidity support, expanded refinancing schemes and introduced other measures that have softened the impact of monetary tightening, he explained.

“So what we call a tight anti-inflationary policy is actually either accommodating or even expansionary,” he said.

Fiscal policy can also add to inflation. Even without a large budget deficit, higher government spending at a time of high inflation can put further upward pressure on prices, he said.

Supply-side weaknesses provide another major source of pressure.

Zahid pointed to weak market regulation, market manipulation and the costs imposed by informal payments, such as extortion, throughout supply chains.

Such costs effectively function as an additional “tax on goods” and can rise alongside general prices, he said.

The ADB also mentioned the policy issue, saying a gradually less restrictive monetary policy stance and expanded liquidity support are expected to add upward pressure on prices.

It added that weak economic activity and sluggish credit growth would help limit inflationary pressure driven by consumer demand.

The report further warned that the outlook faces significant downside risks.

A prolonged Middle East conflict, higher oil prices, further shipping disruptions, tighter trade restrictions and continued exchange-rate pressure could further weaken growth and keep inflation elevated.

GROWTH OUTLOOK WEAKENS

The ADB has also cut Bangladesh’s growth forecast for FY27 to 4 percent from 4.5 percent projected in July.

The lender said persistent banking-sector stress, severe energy shortages, structural bottlenecks and weak investment would constrain the recovery.

High non-performing loans, weak bank balance sheets, elevated borrowing costs and banks’ preference for safer government securities are limiting credit to the private sector, it said.

Unreliable energy supplies, logistics constraints and lengthy regulatory procedures are further weighing on investment, reducing the economy’s ability to respond to either monetary easing or fiscal support.

Industrial growth is projected to slow to 3.3 percent in FY27 as energy shortages, higher production costs, weak external demand and uncertainty weigh on manufacturing and private investment.

Agriculture also faces risks from adverse weather and limited fertiliser availability.

“The downgrade for FY2027 reflects trade headwinds, energy import volatility and weather-related disruptions impacting agriculture and output across South Asia,” the ADB said.

The services sector is expected to remain comparatively resilient, growing 4.7 percent, supported by remittance inflows and a modest recovery in domestic activity.

“The economy is beginning to recover, but the recovery remains vulnerable to external shocks and domestic constraints,” said ADB Country Director Qingfeng Zhang.

He called for faster reforms in macroeconomic management, the financial sector, energy security and the business environment to revive private investment and create jobs.

Bangladesh's central bank has introduced a new framework allowing eligible cross-border trade payments to be settled in taka through Non-Resident Taka, or vostro, accounts maintained by authorised dealer (AD) banks for correspondent banks in trading partner countries.

Vostro accounts are not new. Under the existing system, AD banks could open taka vostro accounts for their overseas branches and correspondent banks against inward remittances in freely convertible foreign currencies.

The new arrangement changes how these accounts can be funded and used. Eligible import payments can now create taka balances in vostro accounts without an initial inward remittance in a freely convertible currency. These balances can then be used to settle eligible export payments and for other permitted purposes.

So, how will the new taka settlement framework work? Here are the key terms and the process in simple terms.

What is a vostro account?

In simple terms, it means a foreign bank can keep a taka account with a Bangladeshi bank and use the money in that account to make or receive payments related to trade with Bangladesh. For example, suppose a bank in India maintains a taka account with a Bangladeshi bank. For the Bangladeshi bank, it is a 'vostro' account. The word 'vostro' is Latin for "yours", meaning "your account with us".

The foreign bank owns the money, but the account is maintained by the Bangladeshi bank. Bangladesh Bank's guidance describes a vostro account as an account maintained by a domestic bank in the name of a foreign bank, overseas branch or correspondent bank to facilitate local-currency transactions and settlements.

What is a correspondent bank?

A correspondent bank is a bank that provides banking services to another bank, particularly when the latter does not have its own banking presence in a country. For example, a UK bank may not have a branch in Bangladesh. It can maintain a relationship with a Bangladeshi bank, which can hold its taka account and process eligible payments on its behalf.

In this arrangement, the Bangladeshi bank acts as the correspondent bank.

So, in simple terms, a correspondent bank is a local bank that helps a foreign bank conduct banking and payment transactions in a country where it does not have its own full banking presence.

What is an authorised dealer, or AD, bank?

An authorised dealer (AD) bank is a bank authorised by Bangladesh Bank to conduct foreign-exchange transactions. The new framework says these AD banks can maintain Non-Resident Taka vostro accounts for correspondent banks in trading partner countries.

How will a trade payment work?

Suppose a Bangladeshi company exports garments to a US buyer worth $1 million. The new arrangement does not mean that the exporter and importer have to rewrite the contract in taka. The letter of credit (LC), contract and invoice can continue to be denominated in US dollars or another freely convertible or admissible currency.

But when the payment is settled through the taka vostro account, the invoiced amount will be converted into taka at the prevailing exchange rate.

For example, if the applicable exchange rate is $1 = Tk120, a $1 million invoice would be settled at its taka equivalent of Tk12 crore.

What happens if money is left in the vostro account?

This is another important part of the new arrangement. Suppose a foreign bank has Tk50 crore in its taka vostro account. After making eligible payments, Tk10 crore remains. That Tk10 crore is the surplus balance.

Bangladesh Bank now allows such surplus taka, subject to prevailing regulations, to be used for certain permitted investments in Bangladesh. These include: foreign direct investment (FDI), foreign portfolio investment (FPI), alternative investment funds, open-end mutual funds.

Will exporters lose their foreign-currency facility if they are paid in taka?

No. Bangladesh Bank says exporters receiving proceeds in taka under this arrangement will remain eligible for foreign-currency retention facilities, where applicable. This is important because exporters may need foreign currency to pay for imported inputs or repay eligible Export Development Fund (EDF) loans.

What is a nostro account?

Nostro is essentially the opposite perspective of vostro. If a Bangladeshi bank keeps a foreign-currency account with a bank in another country, that is its nostro account – Latin for "ours", meaning "our account with you".

For example, if a Bangladeshi bank keeps a US-dollar account with a US bank, the Bangladeshi bank calls it its nostro account.

What is the benefit of the new system?

The main change is that Bangladesh is creating another route for settling eligible international trade transactions.

Instead of requiring every trade payment to be settled through a foreign currency such as the US dollar, suitable trading partners can use a taka-based mechanism through vostro accounts.

This could make cross-border settlement more flexible and increase the use of taka in bilateral trade.

The ability to use surplus taka for permitted investment also gives foreign banks and their customers an additional use for taka balances accumulated through trade.

India's rapid expansion of renewable energy is outpacing the country's power grid, leaving a growing amount of clean electricity unused even as non-fossil sources take a larger share of the electricity mix.

On a hot July afternoon this year, electricity generated from renewable sources briefly met more than half of India's peak power demand, only the second time this has happened. The first instance was around the same period a year earlier, reports BBC.

Solar, wind, hydropower and nuclear power together briefly produced more electricity than coal-based generation, marking the rapid growth of non-fossil energy in India's power system.

"It showed that renewable energy is no longer a marginal source sitting at the edge of the power system," Sumant Sinha, CEO of Nasdaq-listed clean energy company ReNew Power, told the BBC.

However, coal-fired plants still generate around 70% of India's electricity on average because they operate for more hours than solar and wind facilities.

A decade ago, India had barely 4GW of installed renewable energy capacity. That figure has now reached around 300GW, accounting for 54% of the country's total installed capacity of 552GW. India has therefore achieved its target of having half of its installed electricity capacity from non-fossil sources five years ahead of schedule.

But the rapid expansion has exposed major weaknesses in the infrastructure needed to transmit and store that electricity.

Transmission capacity falls behind

The growth of renewable generation has significantly outpaced the expansion of transmission infrastructure, creating difficulties in moving electricity from generation sites to consumers.

Transmission constraints accounted for nearly two-thirds of all renewable energy curtailment in the first quarter of 2026, amounting to around 300 gigawatt-hours (GWh), according to global energy think-tank Ember.

In other words, a substantial amount of renewable electricity that was generated could not be used because the grid lacked sufficient capacity to carry it.

One in four inter-state transmission projects is facing delays of more than a year, further widening the gap between the development of power generation and transmission infrastructure.

Sinha said generation projects can be built within 18–24 months, while transmission projects generally take longer because they involve right-of-way issues, land acquisition, regulatory approvals and coordination among multiple agencies.

Vibhuti Garg of the Institute for Energy Economics and Financial Analysis also attributed the problem to "poor planning".

She said the grid was able to absorb new capacity when India was adding around 10–15GW of generation annually. But additions reached a record 51GW last year, putting much greater pressure on the existing network.

The concentration of renewable energy projects in the north-western states of Gujarat and Rajasthan has compounded the problem, as the grid faces difficulties evacuating power from these major generation centres.

Ember analysts now consider the growing mismatch between rapidly expanding generation and slower transmission development the "most critical operational risk" to India's target of reaching 500GW of non-fossil electricity capacity by 2030.

Storage could reduce wastage

Battery storage at renewable power pooling stations could help address the mismatch by storing electricity when renewable generation is high and supplying it during periods of greater demand, particularly in the evening when solar generation declines.

"Had that been the case, India could have stored the energy and used it during evening hours rather than wasting it," Garg said.

However, storage capacity has not expanded sufficiently.

A sharp increase in battery prices, shortages of raw materials linked to the war in the Middle East and a fall in the value of the Indian currency have increased financing costs for Indian companies, Garg said.

As a result, many planned storage projects have fallen through.

Financing remains a wider challenge

Access to finance is a broader challenge for India's clean energy industry.

India is estimated to require $400–500 billion in investment to meet its 500GW renewables target by 2030. Yet around 83% of the country's climate-mitigation finance currently comes from domestic sources, according to the government's Economic Survey.

Under the Paris Agreement, developed countries committed to providing developing countries with $100 billion annually in climate finance through 2025. However, access to that funding has remained difficult.

Sinha said emerging and developing economies outside China receive only around 15% of global clean-energy investment despite accounting for roughly two-thirds of the world's population.

He said India does not necessarily need developed countries to finance its entire energy transition but needs support through cheaper loans, guarantees and protection against currency losses to encourage greater private investment.

Rising demand adds pressure

The need to address the infrastructure and financing gaps is becoming more urgent as India's electricity demand continues to rise.

India is the world's third-largest emitter of greenhouse gases, while its electricity demand has grown at a compounded rate of more than 7% annually. Demand is expected to increase further as industries such as data centres and chip manufacturing expand.

The International Energy Agency expects India's electricity demand to rise by 80% by 2035, the sharpest increase among emerging economies.

The agency has also credited India's rapid renewable energy expansion as a major contributor to slowing emissions growth in the developed world this year, even as energy-related carbon dioxide emissions in advanced economies rose more sharply for the first time since the 1990s.

With India's power demand rising and its renewable capacity expanding rapidly, experts say closing the gaps in transmission, storage and financing will be critical to making use of the electricity the country is generating.

How successfully India addresses these bottlenecks will have implications beyond its own energy sector, given the country's scale of electricity demand and its importance to global efforts to reduce greenhouse gas emissions.

Industries are going to gas-rich Bhola as PRAN-RFL Group is set to begin constructing factories in its new industrial park in the island district next month with a planned investment of around Tk 60 billion in the project.

The industrial park is being developed on nearly 1,000 bighas of land in Char Veduria under Bhola Sadar upazila. Land acquisition for the project is nearing completion, while offices for officials and employees and sheds for storing construction materials have already been built, according to group officials.

The investment will focus partly on industries that require relatively high volumes of gas and energy, such as gas-based ceramics and glassware manufacturing, taking advantage of Bhola's natural gas availability and waterways for transporting goods.

A substantial portion of the investment will come from PRAN-RFL's own funds and bank loans, while the group also plans to bring in foreign investors through joint ventures.

Kamaluzzaman Kamal, director (marketing) of PRAN-RFL Group, told The Financial Express that the group had already completed the drawings and designs for the production floors.

"Construction of four production floors will begin in the last week of October," he said.

Each floor will cover 60,000 square feet, taking the combined area of the four floors to 240,000 square feet, group officials said. Production will begin in phases after construction is completed.

The group plans to manufacture products in the Bhola industrial park that require relatively higher gas consumption, as gas is trapped there in absence of transmission pipelines connecting the national grid.

"These will include gas-based ceramic and glassware industries, which are new product lines for the group," Mr Kamal said.

The group also plans to set up factories to expand production capacity in line with market demand for products currently manufactured in its other industrial parks. These include pipes, floaters, injection-moulded products, chairs, water tanks, tables, doors, toys and footwear.

PRAN-RFL plans to bring the industrial park into full-scale production by 2028. Once fully operational, the park is expected to create more than 25,000 direct jobs, according to group officials.

Construction of internal roads, land development, housing for workers and officials, and a 60,000-square-foot warehouse is currently underway.

PRAN-RFL has applied to the relevant government authorities for gas connections for the proposed factories. It has also applied for the installation of a new 7.5-kilometre gas pipeline to the industrial park.

"Ensuring uninterrupted gas supply will allow us to expand production rapidly," he said. "If a factory is located far from the gas field, pipeline infrastructure will be needed to supply gas. A competitive gas price for industries in Bhola would also encourage more entrepreneurs to invest in the area."

Most of Bangladesh's industrial facilities are concentrated in and around Dhaka, leaving relatively fewer industrial and employment opportunities in other regions. At the same time, gas-supply constraints in and around Dhaka have now emerged as a major challenge for industries.

Against this backdrop, PRAN-RFL has been pursuing an investment strategy focused on areas where gas is relatively accessible but large-scale industrialisation remains limited.

Group officials cited the industrial park in Shayestaganj, Habiganj, which employs around 35,000 people, as an example of this strategy.

They said the Bhola park could become another major investment of this kind and help establish a new industrial base in the country's southern region.

Mr Kamal said the government's plan to establish road connectivity with Bhola, if implemented, would further improve access to the industrial park. The use of the Mongla and Payra seaports could also increase, potentially boosting economic activity in the southern region.

PRAN-RFL plans to transport goods produced in Bhola by waterway wherever feasible. The company expects this to reduce pressure on roads and help contain transportation costs.

Mongla and Payra ports are relatively close to Bhola but are not operating at their full potential because of inadequate cargo volumes. The establishment of large factories by PRAN-RFL and other companies in Bhola could increase cargo movement through the two ports, according to industry officials.

They believe the availability of natural gas in Bhola presents a major opportunity for industrialisation in the southern region. They said policy and infrastructure support from the government would be needed to fully utilise the opportunity.

The industrial park's construction and preparatory activities are expected to create employment for at least 2,000 people this year, including construction workers, according to PRAN-RFL.

The group will provide training to workers employed at the industrial park under its own training programmes. It plans to draw on the experience of training systems already operating in its other industrial parks and factories.

Once fully operational, the industrial park could generate substantial employment and business opportunities for the local economy, the company said. Higher incomes and purchasing power among local residents could also reduce the need for people to migrate to other districts in search of work.

Products manufactured in the park will initially be supplied to the domestic market. The group also plans to export the products to international markets where opportunities arise after meeting local demand.

The billionaire family behind H&M is quietly increasing its stake, fuelling speculation it could take the fast-fashion retailer private as CEO Daniel Erver's turnaround efforts have so far failed to boost the shares or lift sales significantly.

The Persson family's Ramsbury Invest holding company, primarily owned by Sweden's richest person Stefan Persson, has bought 36.8 million H&M shares so far this year, regulatory filings show.

Stefan Persson is the son of H&M founder Erling Persson and the father of chairman Karl-Johan Persson.

The family and related entities owned more than 68 percent of H&M's shares at the end of August, according to the company's website, up from 49.5 percent at the start of 2021.

"It is very difficult to view it any other way than that their strategy is to slowly buy out the company," said Sverre Linton, chief legal officer of the Swedish Shareholders' Association, which represents small shareholders.

"You could call it Sweden's slowest buyout."

Under Swedish rules, shareholders who own 90 percent of a company can compel the purchase of the remaining shares.

Minority shareholders would be best served either by a successful turnaround that lifts H&M's share price or by a "decent" cash offer from the Persson family, Linton said.

"I believe there are many shareholders who would be willing to accept such an offer at this stage."

Deutsche Bank analyst Adam Cochrane expects the family to take H&M private by 2030.

H&M referred questions about the share purchases to Ramsbury Invest, where a spokesperson declined to comment on any plans to take the company private, saying only:

"The Persson family believes in the company, are long-term owners and have historically increased their ownership over time."

H&M has struggled to lift sales as shoppers have cut back on spending and competition has intensified from ultra-cheap online retailers such as Shein and from Zara owner Inditex.

The stock has lost more than 50 percent of its value since peaking in 2015.

Erver took over as CEO in January 2024 with a mandate to improve profitability and strengthen the brand, but has yet to reignite sales growth.

Sales fell 1 percent in the first quarter and were flat in the second. Analysts expect only modest growth in the third quarter, which H&M reports on Thursday.

"Maybe the family feels that they get so much negative feedback from the markets, it's better for them to just be outside the market and then they can go ahead with much more long-term strategies," said Peter Magnusson, a portfolio manager at Cicero Fonder in Stockholm, who also expects the Perssons to take H&M private.

Stocks rebounded strongly on the Dhaka Stock Exchange (DSE) today (23 September), as renewed buying interest in undervalued scrips pushed the benchmark index higher, even as economic and geopolitical concerns persisted.

The DSEX gained 55 points, or 1%, to close at 5,596. The blue-chip DS30 index rose 16 points to settle at 2,122.

Market breadth was strongly positive, with 246 issues advancing against 102 decliners, while 37 remained unchanged. Turnover rose 7% to Tk844 crore, and market capitalisation increased by around Tk2,900 crore.

In its daily market review, EBL Securities said the recovery resumed after momentum had briefly faltered following the recent fuel price hike. "Investors returned to perceived attractive stocks despite concerns over the market outlook amid ongoing economic challenges," the brokerage said.

The market opened on a firm footing and maintained its upward momentum throughout the session, resulting in broad-based price appreciation and a positive close for the major indices, EBL Securities added.

Sheltech Brokerage attributed part of the renewed buying to expectation-based positioning ahead of fiscal year-end earnings and dividend announcements from companies whose financial year ends in June.

"Strong buying interest" emerged from the early session and strengthened further towards the close despite geopolitical uncertainty and the spillover effects of the recent fuel price hike, it said.

The DSEX climbed to an intraday high of 5,603.62 points before settling at 5,596, it added.

According to the EBL Securities, BRAC Bank, Unique Hotel, Square Pharmaceuticals, Eastern Bank and LafargeHolcim Bangladesh were among the major stocks contributing to the index's gains.

Textile stocks accounted for the largest share of market turnover at 19.9%, followed by pharmaceuticals at 16.8% and general insurance at 11.8%.

Most sectors posted gains, with travel stocks leading the sectoral performance by rising 5.6%. Paper stocks gained 5%, while life insurance advanced 3.1%. Mutual funds and general insurance were the only sectors to close lower, falling 2.4% and 0.5%, respectively.

Square Pharmaceuticals, Beximco Pharmaceuticals, Dominage Steel, Orion Infusion and IPDC Finance were the most traded stocks of the session.

Orion Pharma topped the gainers, rising 10%, followed by Unique Hotel at 9.95%, Index Agro at 9.94%, Chartered Life Insurance at 9.92% and Sea Pearl Beach Resort at 9.91%.

Among the decliners, Reliance Insurance First Mutual Fund fell 5.22%, Golden Jubilee Mutual Fund 5.20%, ICB Third NRB Mutual Fund 4.68%, IFIC First Mutual Fund 4.65% and Prime Bank First Mutual Fund 4.34%.

The Chittagong Stock Exchange also ended higher, with its benchmark CSCX gaining 38 points to 9,129, while the broader CASPI index rose 54 points to 14,870.

OpenAI on Monday called for the United States to lead a global effort on establishing standards for developing artificial intelligence as CEO Sam Altman prepares to brief the United Nations this week.

Concerns about AI safety have escalated over the past few months amid a series of security incidents and doomsday warnings, prompting regulators and others around the world to call for more action.
OpenAI voiced support for global cooperation to create a set of safety and security standards for AI development that could mitigate safety risks.“The United States is well positioned to lead because its AI industry is at the technical frontier,” OpenAI said in a blog post. “Leading now will determine whether the United States shapes the global AI framework or watches a fragmented, uneven, and conflict-ridden system take hold around it.”The San Francisco-based AI lab also said that recursive self improvement, or RSI, should not be pursued “unless and until it can be done safely.”

RSI is a technique where software begins to teach itself and improve autonomously, which critics fear could have catastrophic outcomes if humans are not able to intervene. In July, OpenAI’s models were involved in a security breach of Hugging Face, a site used by AI developers to store and share code.

Though the models involved were unreleased and undergoing testing, the incident sparked concerns about autonomous agents, which are software programs that can perform tasks for humans.

Anthropic and Google have reported security incidents involving their models, as well. “The Hugging Face Incident we disclosed, while not a direct result of RSI, is a preview of the kinds of risks that could become much more severe without robust safeguards and alignment.”

Altman is expected to brief the UN Security Council on Wednesday, the same week as the UN General Assembly.

The meeting is being organized by France, which currently holds the rotating presidency of the 15-member Security Council, and comes as major players in the industry have said a slowdown in AI development could be necessary out of safety concerns.

UN Secretary-General Antonio Guterres on Wednesday called for coordinated international action to address AI risks as fears rise about the dangers of the fast-evolving technology.

“National action is essential. But global coordination is also indispensable,” Guterres told reporters.

The concerns about AI safety escalated further this month when workers at major AI developers said they resigned over concerns about the dangers posed by the technology.

Anthropic chief executive Dario Amodei published an essay soon after urging caution and a slowdown in AI development.

Altman and tech titan Elon Musk lent their support to the idea, as did Google DeepMind’s Demis Hassabis, who himself has called for a US-led global regulatory body for the technology.

President Donald Trump has dismissed warnings against AI risks as a “hoax.”

The World Bank and International Monetary Fund have said on Monday that their executive boards had approved proposed reforms to their joint framework for evaluating the debt of low-income countries to reflect a more complex and riskier environment.

A joint review, the first since 2017, recommended changes in several areas, including better analysis of domestic debt and broader assessment of long-term development challenges, including climate change.

The reforms will improve analysis of risks to debt sustainability by refining how countries' debt-carrying capacity is measured and introducing new tools to assess debt sustainability.

The World Bank and IMF will also work to enhance the "realism tools" and stress tests used to ensure the consistency and accuracy of forecasts, while encouraging countries to improve debt data transparency, the World Bank said.

The IMF and World Bank use the debt sustainability framework to assess a country's ability to take on new debt without jeopardising its ability to service existing loans.

Changes were recommended as many low-income countries have seen rising debt levels and a shift in financing sources to include more domestic and external borrowing on commercial terms.

The revised framework is expected to become operational in the second half of 2027, the World Bank said.

A review completed in July confirmed that the debt sustainability framework had worked well to identify debt distress episodes ahead of time and help countries make informed borrowing and lending decisions.

But it also identified several areas where the framework could be improved to account for new challenges at a time of elevated development needs and a sharp decline in official development assistance.

The Dhaka Stock Exchange (DSE) has set a target of bringing at least 10 blue-chip companies to the capital market by 2027 to address the prolonged market slump and shortage of quality securities.

The target includes state-owned enterprises, multinational corporations and large local companies, according to DSE Chairman Mominul Islam.

At a press briefing, DSE chairman said the capital market had not seen any major quality initial public offering (IPO) or new listing for more than two years.

To address the shortage of new securities, the Bangladesh Securities and Exchange Commission (BSEC) has prepared draft regulations to simplify and expedite both the IPO and direct-listing processes.

“We hope that through the combined efforts of the government, regulator, stock exchanges and merchant banks, we will be able to achieve the target of bringing at least 10 blue-chip companies to the market by 2027,” the DSE chairman said.

The DSE has also cut bond listing fees significantly to encourage companies to raise funds through the capital market.

“Companies applying for listing by March 2027 will be eligible for a 50 per cent waiver on listing fees,” he said.

The prime bourse has also taken a major step to compensate investors affected by five defaulting brokerage houses.

Of the 17,925 investors affected by the five firms, those whose claims are up to Tk 500,000 will receive their dues in full from the IPF. This means 17,332 investors, or about 97 per cent of the affected investors, will get their money back in full.

Disbursement will begin on September 28, with the process expected to be completed within two months, the DSE chairman informed.

For the remaining 593 investors with claims exceeding Tk 500,000, the commission will pursue legal measures to recover the money.

The measures will include selling shares and immovable properties of the defaulting brokerage firms, as well as personal assets of their directors, the DSE chairman said.

“Many people, including retired teachers, judges and bankers, had invested their life savings and were caught in the crisis. The decision to expedite repayment was taken out of a sense of humanitarian and moral responsibility,” he stated.

The move is expected to help restore confidence among small investors in the capital market, the official added.

The Dhaka Stock Exchange (DSE) extended its losing streak for a second consecutive session today (22 September), as concerns over potential domestic fuel price hikes and escalating geopolitical tensions in the Gulf continued to weigh on investor sentiment.

The benchmark DSEX index fell 10 points, or 0.18%, to settle at 5,540. The blue-chip DS30 index, however, edged up 0.25 points to close at 2,106.

Market breadth remained firmly negative, with 227 issues declining, compared with 103 advancing and 55 remaining unchanged. Meanwhile, daily turnover rose slightly to Tk791 crore from the previous session.

According to EBL Securities' daily market review, the capital market faltered in its recovery attempt as investors maintained a cautious stance amid persistent uncertainties.

Concerns over elevated inflationary pressures and their potential impact on corporate profitability prompted investors to reduce their equity exposure, the brokerage said.

Trading remained volatile throughout the session, with selling pressure regaining momentum after the mid-session, it added.

Sheltech Brokerage Limited noted that the session was characterised by a tug-of-war between bargain hunters and profit-takers following deteriorating market sentiment.

On the sectoral front, textile led the turnover chart by accounting for 18.3% of the total transaction value, followed by general insurance at 14.6% and pharmaceuticals at 13.9%. Most sectors posted negative returns, with services falling 1.1%, life insurance losing 1.0%, and travel dropping 0.9%. Conversely, mutual funds, ceramic, and engineering managed marginal gains of 1.1%, 0.5%, and 0.3% respectively.

Dominage Steel Building Systems emerged as the most-traded stock of the day and also topped the gainers' chart with a 9.98% surge. Other top turnover leaders included Eastern Bank, Square Pharmaceuticals, Saiham Textile, and Anwar Galvanizing. Among other top gainers, Information Services Network jumped 9.92%, First Prime Finance Mutual Fund rose 9.85%, ICB AMCL Second Mutual Fund advanced 9.09%, and Orion Infusion gained 8.74%.

Conversely, New Line Clothings led the losers' list, dropping 5.26%. It was followed by Metro Spinning, which lost 5.10%, Tung Hai Knitting down 4.87%, Mercantile Bank declining 4.54%, and Familytex sliding 4.16%.

The port city's bourse, the Chittagong Stock Exchange (CSE), displayed a mixed trend. The selective CSCX index managed a modest gain of 3 points to close at 9,091, while the all-share price index, CASPI, dropped 6 points to end at 14,815.

The government on Monday formed five specialised working groups to implement the National Logistics Policy 2025 and strengthen Bangladesh’s capacity for domestic and international trade.

The working groups will focus on logistics digitalisation, investment, skills development, multimodal logistics infrastructure and trade facilitation, according to notifications issued by the Prime Minister’s Office by the end of last week.
The panels have been formed in line with decisions of the National Logistics Development and Coordination Committee (NLDCC).

The interim government framed the National Logistics Policy 2025, aiming to position Bangladesh as a leading regional trade and logistics hub by 2050, after annulling the previous policy formulated in April 2024 by the ousted Awami League-led government.

Of the groups, the trade facilitation working group will be headed by the commerce secretary.

It is mandated to formulate time-bound action plans to reduce the time, operational costs and procedures involved in imports and exports, customs clearance, cargo release, and port and border management under the policy.

The group will also review progress under the World Trade Organization Trade Facilitation Agreement (WTO-TFA) and propose frameworks for pre-arrival processing, electronic declarations, automated clearance, risk management, green channels, Authorised Economic Operators and post-clearance audits, according to the notification.

Headed by the secretary of the Information and Communication Technology (ICT) Division, the logistics digitalisation working group will prepare a roadmap for real-time tracking and tracing of goods, containers and vehicles from source to destination. It will also integrate digital systems across customs, ports, transport, warehousing, tax and banking, and define verification metrics for a National Logistics Dashboard.

The investment working group, led by an executive member of Invest Bangladesh, will identify foreign and local investment potential in the sector and impediments to investment.

The logistics infrastructure working group will formulate short-, medium- and long-term action plans for physical infrastructure development.

The panel, led by the member for physical infrastructure at the Planning Commission, will also identify bottlenecks across transport modes, ports, inland container depots, container freight stations and logistics hubs.

It will also evaluate and prioritise public-private partnership projects in the logistics sector.

The skills development working group has been tasked with identifying skill gaps and assessing human resource requirements across the logistics sector.

The 2026 Food Systems Countdown analysis reveals that progress is too slow and insufficient to meet 2030 goals, but 2050 could still be achievable, provided actions are consistent and accelerated.

The latest study from the Food Systems Countdown Initiative (FSCI) reveals the stark reality of where global food systems transformation stands – for most indicators on health, environment, livelihoods, governance and resilience, a vast majority of countries will not meet the internationally agreed 2030 goals. And for some indicators such as greenhouse gas emissions from food systems, no country in the world is projected to meet the target.

The study, published in Nature Food, represents the most comprehensive performance assessment of food systems to date, covering 197 countries and 44 indicators across five themes: diets, nutrition and health; environment, natural resources and production; livelihoods, poverty and equity; governance; and resilience.

And for the first time, the study goes beyond tracking trends to assess progress and measure how food systems are actually performing, and how much more needs to improve to meet globally set targets.

"What makes this Countdown paper different is that it doesn't just tell countries whether they're moving in the right direction - it tells them how far they still have to go, and against a benchmark that's actually within reach. That distinction between tracking trends and measuring performance is what turns a monitoring exercise into a tool for accountability," said Dr. Bianca Carducci, lead author.

Key findings

The study finds that, of 30 indicators, only one - mobile phone subscriptions, a proxy for connectedness and resilience - has been met by most countries. For 22 indicators, fewer than one third of countries will meet their global target or benchmark by 2030.

The indicator 'greenhouse gas emissions from food systems' has one of the largest gaps, with the global average 75% away from the target. No country in the world will meet the target at its current pace.

Most regions of the world would need dramatic annual changes to achieve 2030 targets. For example, Africa will require at least a 15-20% improvement across 23 indicators every single year, and Asia will have to cut food insecurity by over 63% every year.

High-income regions are not exempt. In Europe, 19 indicators remain unattainable by 2030. The analysis also shows that some indicators are moving in the wrong direction, notably civil society participation, governmental accountability, ultra-processed food sales, agricultural water withdrawal, pesticide use and changes in emissions from food systems.

"Accountability for food systems transformation requires accelerated progress — without it, efforts risk becoming performative rather than transformative. We can no longer afford to continue at the present pace," said Dr. Mario Herrero, Professor, Ashley School of Global Development and the Environment, Cornell University.

Bright spots offer hope

Despite the sobering picture for 2030, the study is not entirely bleak. For 7 of 33 indicators, at least a third of countries are already on track to meet the 2030 target. And half the indicators have been moving in a desirable direction at the global level. The study also offers the pace at which changes are required to achieve the targets by 2050, making progress feel achievable rather than impossible.

In some cases, regional and income benchmarks provide more realistic milestones that can motivate countries. For example, on average, African countries are 58.7% away from the global benchmark for affordability of a healthy diet, but that gap narrows to 32.2% when measured against a regional benchmark set by the average of the top fifth of African countries.

"Bold global targets are vital for inspiring ambition. But they can become a source of inertia if they seem permanently out of reach. Therefore, regional and income-group benchmarks keep progress within sight and help identify the exemplar countries that can show others how it is achievable," said Dr Jessica Fanzo, James Anderson Professor of Food Policy and Climate at the Johns Hopkins University School of Advanced International Studies Europe.

Urgent call to accelerate action

The study highlights the urgent need for accelerated action across all indicators. Priority actions should focus on indicators where progress is most off track, like food affordability, food insecurity, government effectiveness and food systems emissions. Food systems emissions change will require annual reductions exceeding 60%, which is challenging even for 2050.

"Food systems transformation is a shared responsibility. The governance indicators, including government effectiveness, accountability and civil society participation, are not just one category among five. They are the enablers. Improving them unlocks progress across the entire system," said Dr Lawrence Haddad, Executive Director, Global Alliance for Improved Nutrition.

Improving government effectiveness and accountability are the critical leverage points that interact with the largest number of indicators. However, the urgent need for transformation involves more concerted, creative and accelerated action from the global community that must recommit to achieving these targets by 2050, especially for those most vulnerable.

"The kind of comprehensive assessment that this Countdown study provides is critical for governments and all other partners to set priorities, direct investments and resources, and draft and redraft policies. Our global food systems demand urgent, decisive action — starting now," said Dr José Rosero Moncayo, Chief Statistician and Director of the Statistics Division, Food and Agriculture Organization (FAO).

The 2026 Food Systems Countdown analysis gives every country a mirror, as well as a signpost for what needs to be done, in which direction and at what pace. The world owes it to the billions whose livelihoods depend on food systems, and the billions more who cannot afford a healthy diet, to act now, and to act fast.

Bangladesh received US$7.888 billion in workers’ remittances during the first 83 days of the current fiscal year, marking a 13.8 percent increase compared with US$6.930 billion received during the corresponding period of the previous fiscal year.

According to the latest Bangladesh Bank data, remittance inflow stood at US$2.063 billion during September 1-21, 2026, against US$2.031 billion during the same period last year, registering a 1.6 percent year-on-year growth, BSS reports.

On September 21 alone, expatriate Bangladeshis sent US$69 million in remittances.

The latest inflow data showed that workers’ remittances continued to maintain a positive growth trend in the current fiscal year, supporting the country’s external sector and foreign exchange position.

Bangladesh's welding electrode manufacturers have urged the National Board of Revenue (NBR) to restore a concessional duty facility on imported hot-rolled non-alloy steel wire rod, saying the current 88.51% duty assessment could make local production commercially unviable.

The Bangladesh Welding Electrodes Manufacturers Association (BWEMA) made the demand in a letter to the NBR chairman yesterday (21 September), following an NBR directive requiring wire rod imported by VAT-registered electrode and wire-drawing manufacturers to be assessed under HS Code 7213.91.10 without the existing concessional facility.

The association said the resulting duty burden would be 88.51%, compared with 52% on finished welding electrodes imported under HS Code 8311.30.00.

"This would not make it possible to import the raw material by paying the said 88.51% duty and thereafter manufacture and supply welding electrodes," BWEMA General Secretary Md Shahjahan Kabir said in the letter.

According to the association, the higher duty would put domestic manufacturers at a disadvantage while making imports of finished welding electrodes more commercially attractive.

Consignments held at Ctg Port

Several consignments of wire rod imported by BWEMA member companies are currently stuck at Chattogram Port over the dispute surrounding HS classification and duty assessment, the association said.

The affected companies are incurring more than Tk1 lakh a day in additional costs, including port and shipping demurrage, it said.

BWEMA urged the NBR to allow provisional assessment and release of the consignments under Section 93 of the Customs Act, 2023, to prevent further losses.

Wire rod is the main raw material used to manufacture welding electrodes. The association said domestic production of the raw material has increased in recent years, reducing the sector's dependence on imports.

The NBR had earlier provided a concessional facility under SRO No 151-Law/2026/06, issued on 8 June, and its amendment issued on 30 June.

Under the facility, imports under HS Code 7213.91.90 by electrode, wire-drawing and electric cable clip manufacturers were eligible for 0% regulatory duty and 0% supplementary duty, instead of 5% and 45%, respectively.

BWEMA said similar consignments had previously been assessed under concessional facilities provided through earlier SROs.

Industry seeks policy continuity

The association said the latest NBR directive has created uncertainty because the concessional facility remains applicable to HS Code 7213.91.90, while the new instruction requires wire rod to be classified under HS Code 7213.91.10.

BWEMA has requested the NBR to review and withdraw its 15 September directive and allow the consignments to be assessed under the existing concessional facility.

Alternatively, it urged the revenue board to include HS Code 7213.91.10 in Table-3 of the relevant SRO and extend the concessional facility to the code with retrospective effect.

The association warned that failure to resolve the issue could force local manufacturers to scale back or shut operations, threatening jobs and increasing dependence on imported finished welding electrodes.

BWEMA said maintaining the concessional facility would help protect domestic investment and employment while supporting local manufacturing.

Prime Minister Tarique Rahman and Turkish President Recep Tayyip Erdogan discussed ways to expand cooperation between Bangladesh and Türkiye in the areas of economy, trade and investment during a meeting in New York on Tuesday.

The high-level meeting was held at the Turkish House at 821 United Nations Plaza.

The two leaders exchanged views on various issues of mutual interest and discussed the scope for further expanding existing cooperation in the economic, trade and investment sectors.

They also discussed important regional and international issues and stressed the need for continued close cooperation and coordination between the two countries.

The two leaders expressed their commitment to further strengthening the long-standing friendly relations between Bangladesh and Türkiye and opening up new areas of cooperation based on mutual interests and shared priorities.