US ambassador to India and special envoy for South and Central Asian affairs Sergio Gor has said Bangladesh has committed billions of dollars to buy additional Boeing aircraft from the United States under a new deal between Dhaka and Washington.

In a post on X last night (30 August), Gor said US President Donald Trump and Bangladesh Prime Minister Tarique Rahman had reached an "incredible Deal" under which Bangladesh would significantly increase its initial order for Boeing aircraft.

"Just this week, President Trump and the Prime Minister of Bangladesh made another incredible Deal, with Bangladesh committing to spend Billions of Dollars to buy more Boeing Aircraft, significantly increasing their initial order," Gor said.

President Trump is the Greatest JOBS President in American History. He works tirelessly every day to create millions of high-paying Jobs, drive Trillions of Dollars in Investment, and reinvigorate our Economy. Just this week, President Trump and the Prime Minister of Bangladesh…

However, Gor did not specify the number or models of aircraft involved, the total value of the reported commitment or whether a purchase agreement had been formally signed.

The US envoy's statement came nearly a month after his three-day official visit to Bangladesh from 30 July to 1 August. During the visit, he met senior government officials and discussed bilateral relations, trade and economic issues.

Bangladesh had previously increased its planned purchase of Boeing aircraft from 14 to 25 in July 2025 amid trade negotiations with the Trump administration.

The aircraft were planned for Biman Bangladesh Airlines as part of efforts to modernise and expand the national flag carrier's fleet.

Gor's latest post suggests the planned order could now be expanded further, although neither the Bangladesh government nor Boeing has so far publicly disclosed details of the reported new commitment.

Labour rights experts have called on the authorities to ensure a transparent, predictable and time-bound trade union registration process in line with existing labour law.

They also warned that delays and additional administrative requirements could undermine workers' freedom of association.

The call came at a stakeholders' experience-sharing meeting on recent amendments to the Bangladesh Labour Act, 2006, organised by Solidarity Center in Dhaka yesterday (30 August).

At the meeting, labour leaders alleged that officials of the labour department under the labour and employment ministry were delaying union registration and demanding bribes.

AKM Nasim, country programme director of Solidarity Center, presented the keynote paper, which reviewed several registration cases and found significant delays between application submission and acceptance.

Rashadul Alam Raju, general secretary of Bangladesh Independent Garment Workers' Union Federation, said online submission had become "a new hassle" as applications remain pending on the server for months.

Labour leader Kamrul Hasan said his organisation had submitted six applications for trade union registration over the past three months, but none had been approved. Referring to a Labour Department official by name, he alleged that the official openly demanded bribes.

"The longer the process takes, the higher the amount of the bribe becomes," he said.

Several other labour leaders also raised similar allegations against labour department officials.

Labour leader Nahidul Islam Nayan alleged that even instructions from the department's director general and the labour ministry secretary were not being followed by officials.

Nazma Akter, executive director of Awaj Foundation, said the general secretary of a proposed trade union was called by the industrial police and asked to meet the officer-in-charge. The union was later approved following pressure from the buyer, she added.

Jamil Ansar, senior programme officer at the ILO Country Office for Bangladesh, said the maximum punishment currently faced by labour department officials for misconduct was transfer from one office to another.

He urged labour leaders to raise their concerns collectively and make their voices heard.

Nasim's paper also raised concerns over the labour department's apparent practice of requiring employer certification of the total number of workers as a mandatory document for every application.

The paper cited the experience of Libas Knitwear Ltd Sramik Union, which submitted its application on 25 November 2025, but the department formally accepted it only on 27 February 2026—a delay of about 95 days.

Standing in a soybean field in Finley, Tennessee, Stefan Maupin sees far more than a crop ready for harvest. Her family has farmed the land for four generations, and she now manages nearly 1,000 acres of soybeans.

Yet the journey of those beans extends far beyond this farm.

From seed selection and breeding to precision farming, research, quality testing, storage and transportation, every stage is part of an integrated system designed to deliver a consistent product to buyers around the world.

Some of those soybeans may eventually travel thousands of kilometres to Bangladesh, where they are crushed into soybean oil and meal, with the meal becoming a key protein ingredient for poultry, livestock and aquaculture feed.

That farm-to-global-market journey was among the key lessons from a recent US Soybean Export Council (USSEC)-organised visit to soybean farms, research centres and supply-chain facilities in Tennessee, Arkansas and Illinois.

The visit, organised around Soy Connext 2026 in Chicago, offered a look beyond conference rooms into how the US soybean industry combines research, genetics, technology, farming, logistics and sustainability to build value around what is otherwise a global commodity.

Increasingly, the US industry is trying to convince buyers that the value of American soybeans cannot be measured by price alone.

For Bangladesh, the lessons are particularly relevant as the US rapidly expands its role as the country's leading soybean supplier.

USSEC said Bangladesh purchased 1.13 million tonnes of US soybeans in the marketing year 2025-26 through 5 February 2026. In November 2025, five major Bangladeshi companies also committed to buying US soybeans and soybean meal worth $1.25 billion over 12 months.

The farm is the beginning of a global chain

At Maupin's Tennessee farm, technology is embedded in almost every stage of production.

Modern machinery handles planting, crop management and harvesting across hundreds of acres, while data and field-level monitoring help farmers make decisions about crop performance and quality.

Maupin said technology is helping farmers maintain both quality and sustainability.

The system does not end when the crop leaves the field. Soybeans are tested, stored and transported through an extensive network designed to preserve quality until they reach domestic processors or international customers.

That network is one of the US industry's biggest competitive advantages. The Mississippi River provides a major artery for moving agricultural commodities from the country's interior to export terminals. Soybeans can travel from farms and grain elevators through inland waterways before being loaded for international markets.

For global buyers, the value of US Soy therefore begins not only with the bean itself but with the ability to deliver it consistently.

Todd Main, director of market development at USSEC, said reliability is one of the fundamental advantages of US Soy.

"If customers need soybeans, we can deliver them any time of the year," he said, pointing to the country's extensive transportation network linking farms, elevators, railways, waterways, export terminals and international shipping routes.

For feed manufacturers, reliability can be economically important. A disruption in soybean supplies can affect feed production, poultry prices and aquaculture operations.

USSEC therefore increasingly positions US Soy around reliability, nutritional value, sustainability and traceability, alongside price.

The farmer is part of the research system

The Illinois visit provided another perspective on how farmers create value.

Bryan Siebers, chairman of Illinois Soybean Association District 7 and a multi-generation soybean farmer, described farming as a responsibility passed from one generation to the next.

His family pays close attention to machinery cleaning, varietal purity, soil health and crop management. Cover crops are used to support soil health, while crop-protection decisions are carefully managed.

For Siebers, sustainability is not simply a certification or marketing exercise. It is about ensuring that the next generation inherits productive farmland.

He also highlighted a growing challenge for US agriculture: productive farmland is gradually being converted into warehouses, industrial facilities, roads and other infrastructure.

At the same time, farmers are developing closer relationships with international buyers through identity-preserved systems.

Specialty or non-GMO soybeans can be kept separate from other varieties from harvest through storage and transportation, allowing buyers to trace the product more closely to its origin. That is changing the traditional commodity relationship.

Instead of an anonymous shipment entering a global trading system, farmers can increasingly know where their soybeans are going and what type of customer is buying them.

For international food and feed companies, traceability can provide greater confidence over origin, handling and quality.

In Arkansas, the farm is also a seed laboratory

The integration of farming and research is particularly visible at Eagle Seed, a family-owned seed company in Weiner, Arkansas.

Established in 1975 and led by farmer and seedsman Brad Doyle, Eagle Seed combines commercial farming with its own breeding and seed-development programme.

The company develops and tests soybean varieties for higher yields, stress tolerance, biomass and other characteristics, working with more than 30 universities and industry organisations.

Rather than simply purchasing seed developed elsewhere, the company participates directly in developing and testing new genetics.

That creates another layer of value for American agriculture.

A farmer can earn not only from the crop harvested from the field but also from the development, multiplication and commercialisation of superior seed varieties.

The model shows how genetics has become an economic asset in modern US agriculture. Better genetics can mean higher yields, stronger resilience and greater value from every acre, while successful breeding can create an additional business around seed development.

Technology is changing the economics of farming

The US farms visited during the trip showed that mechanisation is only one part of the technology story.

Farmers increasingly use data to determine when to plant, how much seed to use, where to apply crop nutrients and how to manage pests and diseases.

Precision technology allows farmers to make decisions at a much more detailed level than was possible in previous generations.

This is important as input costs rise and environmental pressure increases.

The goal is not necessarily to use more fertiliser, pesticides or water, but to use them more efficiently.

That creates a direct connection between profitability and sustainability. If farmers can produce more from the same land while reducing unnecessary inputs, both their margins and environmental performance can improve.

Sustainability becomes part of the product

Sustainability was a recurring theme throughout the farm and research visits. USSEC increasingly presents sustainability not simply as an environmental obligation but as part of the commercial value of US Soy.

The organisation's Soy Sustainability Assurance Protocol allows international buyers to verify that US Soy has been produced under defined sustainability criteria.

USSEC reported that 71% of US Soy exports in 2025 were shipped with SSAP certification.

For global food companies, sustainability credentials are becoming increasingly important as consumers and businesses demand greater transparency about agricultural supply chains.

The US soybean industry is therefore trying to build a product that can compete on several dimensions simultaneously: quality, nutritional performance, reliability, sustainability and traceability.

The next soybean is being developed in laboratories

Perhaps the most important lesson from the US soybean industry is that productivity gains are being pursued not only in fields but also in research laboratories and experimental plots.

Researchers across Tennessee, Arkansas and Illinois are working to develop soybean varieties that can produce higher yields while maintaining nutritional quality and tolerating drought, flooding, pests and diseases.

At the University of Arkansas System Division of Agriculture, researchers are using breeding and advanced genetic tools to develop varieties adapted to local conditions.

Timothy N. Burcham, director of the university's Northeast Rice Research and Extension Center, said the programme produces around 200 soybean crosses a year, generating roughly 20,000 genetic combinations for evaluation.

The research includes flood tolerance, a particularly important area as farmers face increasingly unpredictable weather.

One variety, R19C-1035, averaged 66.1 bushels per acre between 2020 and 2025 and demonstrated a significant yield advantage over check varieties under flooding conditions, according to research presented during the visit.

The work illustrates how modern soybean breeding is moving beyond simply maximising yield.

At Agricenter International in Memphis, the connection between research and commercial agriculture becomes even clearer.

The facility has a 1,000-acre research farm, including around 600 acres of research land, and conducts more than 250 trials annually for more than 80 companies.

The trials cover soybean varieties, irrigation, crop nutrition, biostimulants, crop protection and other agricultural technologies.

Ashley Barth, associate director of Agricenter International, said the US soybean sector is combining traditional breeding and field trials with genomics and precision technologies to improve productivity and sustainability.

The objective, she said, is not simply to produce more soybeans, but to develop varieties that deliver better nutritional characteristics, withstand climate and disease pressures, use resources more efficiently and ultimately improve farm profitability.

Agricenter effectively acts as a bridge between researchers, technology companies and farmers.

New varieties and technologies can be tested under real Mid-South growing conditions before farmers adopt them commercially. That model helps shorten the distance between scientific research and practical farming.

Bangladesh: more than a soybean market

Bangladesh is already a major destination for US Soy, but the opportunity extends beyond imports.

The country's poultry, livestock and aquaculture sectors are expanding, creating sustained demand for soybean meal as a major protein source in feed.

USSEC's $1.25 billion purchase commitment with Bangladeshi companies last year underlined the scale of the market. Meghna Group of Industries, City Group, Delta Agrofood Industries, Mahbub Group and KGS Group were among the companies involved.

Md Mohammad Sameer Haque, director of Delta Agro Industries, was among the Bangladeshi business representatives who visited US farms and research facilities.

"The quality of US soy is better than others. Their research and sustainability practices are exceptional," he said.

Mosaraff Hossain, chairman of Asta Feed Mills, said Bangladesh should similarly look beyond simply importing soybeans and focus on learning from the systems and technologies that make the US soybean industry competitive.

"The US experience shows how research, farming, technology, logistics, sustainability and business can work together to build a globally competitive agricultural value chain," he said.

For Bangladesh, he said, the priority should be to adapt those lessons to local conditions and strengthen the ecosystem around seed development, agricultural research, feed production, aquaculture and sustainable farming.

Bangladesh Bank (BB) has formed a Tk 2,000 crore revolving pre-financing fund to support the frozen food industry, particularly shrimp and fish exporters, and help businesses cater to international markets.

The fund will provide financing at a maximum interest rate of 7 percent, while participating banks will receive funds from the central bank at 4 percent interest.

The initiative comes as exports of frozen and live fish rose marginally in fiscal year 2025-26, while exports of shrimp, the main export item, fell nearly 4 percent year-on-year to $286 million.

The low-cost financing is aimed at easing key financial constraints facing the export-oriented frozen food sector, including long cash-conversion cycles, high inventory costs, expensive cold-chain operations and limited access to affordable financing, according to a Bangladesh Bank circular issued yesterday.

The three-year fund will operate on a revolving basis. All scheduled banks operating in Bangladesh will be eligible to participate, subject to signing an agreement with Bangladesh Bank’s Agricultural Credit Department-2.

The facility will support the production, collection, processing and export of frozen shrimp, fish and other frozen food products. Financing can also be used to purchase raw materials, expand or modernise factories, buy machinery and set up cold-storage facilities.

It will also cover the reopening of closed or partially operational fish and food-processing factories, solar power projects and environmental remediation, including soil reclamation.

For new factories, banks can provide term loans for up to seven years, including a maximum one-year grace period. For the renovation, expansion and modernisation of existing facilities, the maximum loan tenure will be five years, also including a one-year grace period.

Working-capital loans can be provided for one year and renewed once, with a borrower eligible for the facility for a maximum of two years.

Under the scheme, new frozen-food factories will be eligible for term loans of up to Tk 30 crore, while existing processors can receive up to Tk 20 crore for renovation, expansion and modernisation.

Businesses can also obtain up to Tk 5 crore, or 30 percent of the main project loan, whichever is lower, for installing solar panels.

Working-capital loans for raw materials, production, wages and utility bills will be determined based on annual turnover, subject to a maximum of Tk 20 crore.

Banks have been instructed to prioritise frozen-food exporters whose factories are fully or partly closed because of working-capital shortages.

However, firms already receiving financing under other Bangladesh Bank or government schemes for the same purpose will not qualify. Classified loan defaulters will also be excluded.

Bangladesh Bank will provide pre-financing to participating banks, but lenders will bear the full credit risk and remain responsible for loan recovery. Banks that fail to repay the pre-financed amount on time will face an additional 2 percent interest for the delayed period.

Banks must monitor loan utilisation and inspect borrowers’ factories or offices every quarter.

Beneficiaries must also take steps to meet at least 15 percent of their electricity needs from solar power within two years. Non-compliance may result in the suspension of further financing.

The scheme aims to diversify exports, boost foreign exchange earnings, create jobs and expand rural economic activity.

Six months into the US-Israeli war with Iran, governments across Europe and Asia are scrambling to accelerate a renewables build-out in a bid to cut dependence on fossil fuel imports, providing a fresh impetus to the global energy transition.

As the effective closure of the Strait of Hormuz has choked off a fifth of the world’s oil and liquefied natural gas (LNG) shipments, governments from South Korea and Thailand to the European Union have pledged to increase funding for renewables.

Has the conflict delivered a boon to the clean energy transition? Here are some ways to measure the impact.

RENEWABLES ARE SURGING, BUT COAL IS ALSO UP

Renewable power output is soaring across the world, and the International Energy Agency (IEA) expects it to become the top electricity source for the first time this year.

Since the war began, rooftop solar has proved attractive because it is quick and cheap to install.

In the Philippines, high power prices driven by costlier imported fuel are pushing households and businesses onto solar, while a battery subsidy scheme is fuelling a rooftop resurgence in Australia.

European demand for rooftop systems has also jumped since the war began.

But coal is rising too.

With the Strait of Hormuz closed and renewables still unable to guarantee round-the-clock power, coal-fired generation is set to grow — though the IEA’s forecast 8.5 percent jump in renewable output this year dwarfs the 1.4 percent rise in coal.

In the United States, where President Donald Trump has opposed green energy, renewable generation rose 10 percent in the first half of the year from the same period in 2025.

EMISSIONS ARE STILL CLIMBING

Even as renewable generation surges, the IEA expects emissions of the greenhouse gases that cause climate change to rise 1.1 percent this year to an all-time high of 14.2 billion tonnes.

In 2027, the IEA expects coal output to dip by 0.7 percent, but gas-fired power generation to rise 1.5 percent from this year’s levels. Curbing climate change will require even more renewable energy and investments in power grids and energy storage.

ASIA BEARS THE BRUNT

Asian economies most dependent on oil and gas through the Strait of Hormuz have absorbed the sharpest shock.

China leaned hard into solar, with output rising more than three times as fast as coal between March and July.

India, Vietnam and South Korea went the other way, burning more coal.

Some European countries also saw extra coal burn, but the IEA expects EU coal generation to resume its decade-long decline in 2026.

Last month, the Vietnamese government said it was considering building more coal plants to secure supply — despite pledging at the 2021 U.N. climate summit to build no new coal after 2030.

TRANSPORT

Most of the world’s oil is burned as transport fuel — in cars, trucks, ships and planes.

The war has not collapsed that demand, but it has reversed the growth forecasters had pencilled in.

Higher prices, reduced air travel, softer Chinese consumption and faster EV adoption mean the world is now likely using less oil for transport than projected before the war.

Goldman Sachs estimates gasoline-related demand fell about 20 percent at the April peak of the disruption; GL Consulting puts the drop nearer 15 percent.

Costlier fuel has pushed drivers toward EVs, and China — the world’s biggest maker — has seen its EV export value top $10 billion for the first time this year.

Electric models made up 63 percent of the country’s passenger-car retail sales in June, up from 53 percent a year earlier, according to BofA analysts, who estimate electrification explains roughly a third of China’s year-to-date decline in crude imports.

EV sales have also soared across Europe since the war began as high oil prices have caused pain at the pump.

HOW LONG WILL IT LAST?

As long as Hormuz stays shut, high oil and gas prices are likely to persist, strengthening the case for countries to invest in cheaper, home-grown renewables and reduce their exposure to volatile fuel costs.

But whether a shift away from oil and gas gathers even more momentum is difficult to predict.

“Changing a nation’s energy mix requires investments, and higher interest rates will make the considerable upfront capital required for renewables and power grids more expensive. Thus, while the present conflict is likely to ultimately favour decarbonization, it is not a one-way street,” said Sverre Alvik, vice president and energy transition outlook director at DNV.

Many large Asian markets have substantial gas and coal resources to provide a buffer against Middle East supply disruptions and a lot more US LNG supply is expected to come online between 2026 and 2030.

“As this supply materialises, LNG should become more affordable for import-dependent Asian markets, reducing the incentive for a permanent shift away from gas driven solely by the current conflict,” said Victor del Carpio Neyra, senior research associate at Aurora Energy Research.

মধ্যপ্রাচ্য যুদ্ধ শুরুর পর এখন পর্যন্ত জি৭ জোটভুক্ত দেশগুলোর ঘাড়ে চেপেছে ১ হাজার ৬০০ কোটি ডলার ঋণ বাবদ বাড়তি ব্যয়ের বোঝা। এ প্রবণতা অব্যাহত থাকলে আগামী বছরের প্রথম প্রান্তিকের (জানুয়ারি-মার্চ) শেষ নাগাদ বাড়তি ব্যয় ৩ হাজার ৪০০ কোটি ডলারে পৌঁছতে পারে।

ফাইন্যান্সিয়াল টাইমসের (এফটি) সাম্প্রতিক বিশ্লেষণে এসব তথ্য উঠে এসেছে। বিভিন্ন সরকারের বন্ড ইস্যুর তথ্য বিশ্লেষণ করে বাড়তি ঋণ ব্যয়ের হিসাব করা হয়েছে। এতে দেখা গেছে, জি৭-এর প্রায় সব দেশেই বিভিন্ন মেয়াদের সরকারি বন্ডের ইল্ড ফেব্রুয়ারির তুলনায় এখন বেশি। ফলে নতুন করে ঋণ নিতে সরকারগুলোর বেশি অর্থ ব্যয় করতে হচ্ছে।

বাড়তি ঋণ ব্যয়ের সবচেয়ে বড় অংশ বহন করছে যুক্তরাষ্ট্র। দেশটির ক্ষেত্রে এ পর্যন্ত অতিরিক্ত ব্যয়ের পরিমাণ আনুমানিক ১ হাজার ৬০ কোটি ডলার। জি৭-ভুক্ত দেশের মধ্যে যুক্তরাষ্ট্রের অর্থনীতি সবচেয়ে বড়। দেশটির সরকারি বন্ডের বাজারও বিশ্বের বৃহত্তম। ফলে ইল্ড বাড়ার প্রভাবও দেশটির ওপর বেশি পড়ছে।

বর্তমান পরিস্থিতি অব্যাহত থাকলে আগামী বছরের প্রথম প্রান্তিকের শেষ নাগাদ যুক্তরাষ্ট্রের অতিরিক্ত সুদ বাবদ ব্যয় আরো ২ হাজার ১৭০ কোটি ডলার বাড়তে পারে ধারণা করছেন বাজার বিশ্লেষকরা।

সাম্প্রতিক সপ্তাহগুলোয় যুক্তরাষ্ট্রের বন্ড ইল্ড দ্রুত বেড়েছে। এর পেছনে রয়েছে দেশটির বাড়তে থাকা সরকারি ঋণ নিয়ে বিনিয়োগকারীদের উদ্বেগ। একই সঙ্গে ইরানের সঙ্গে যুদ্ধের কারণে মূল্যস্ফীতি আরো বাড়ার আশঙ্কাও কাজ করছে। যুক্তরাষ্ট্রের অর্থমন্ত্রী স্কট বেসেন্ট দীর্ঘমেয়াদি বন্ড কেনার মাধ্যমে ইল্ড কম রাখার চেষ্টা করলেও এর উত্থান থামেনি।

তবে শুধু যুক্তরাষ্ট্র নয়। যুক্তরাজ্য, ইতালি, জার্মানি ও জাপানের মতো বড় জ্বালানি আমদানিকারক দেশও চাপে রয়েছে। হরমুজ প্রণালি বন্ধ হয়ে যাওয়ায় সংকট তৈরি হয়েছে জ্বালানি সরবরাহে। এতে মূল্যস্ফীতির প্রত্যাশা বেড়েছে। এর প্রভাব পড়ছে এসব দেশের বন্ডের ইল্ডেও।

এফটির হিসাবে, ১ হাজার ৬০০ কোটি ডলারের বাড়তি ব্যয় নির্ধারণ করা হয়েছে যুদ্ধ শুরুর আগের ইল্ডের সঙ্গে বর্তমান ঋণ ব্যয়ের তুলনা করে। আর ৩ হাজার ৪০০ কোটি ডলারের সম্ভাব্য ব্যয়ের হিসাব করা হয়েছে বিভিন্ন দেশের অর্থ মন্ত্রণালয়ের প্রকাশিত বন্ড ইস্যু পরিকল্পনার ভিত্তিতে। কোন দেশে কোন মেয়াদের কত বন্ড ইস্যু হবে, সে তথ্যও হিসাবের মধ্যে নেয়া হয়েছে।

জেফরিজের প্রধান ইউরোপীয় অর্থনীতিবিদ মোহিত কুমার বলেন, ‘সুদহার বাড়া শেয়ার ও ঋণবাজারের জন্য বড় ঝুঁকি।’ তার মতে, সুদহার আরো বাড়লে শেয়ারবাজারে নেতিবাচক প্রতিক্রিয়া দেখা দিতে পারে। বিশেষ করে যুক্তরাষ্ট্রের ১০ বছর মেয়াদি ট্রেজারি বন্ডের ইল্ড ৫ শতাংশের ওপরে উঠলে শেয়ারবাজারে চাপ বাড়তে পারে।

বন্ডের ইল্ড বাড়লে শেয়ারের তুলনায় বন্ডের আকর্ষণ বাড়ে। একই সময়ে কোম্পানিগুলোর ঋণ নেয়ার খরচও বেড়ে যায়। এতে মুনাফার ওপর চাপ তৈরি হতে পারে। ফলে উচ্চ ইল্ড শুধু সরকারি অর্থ ব্যবস্থার জন্য নয়, বেসরকারি খাত ও শেয়ারবাজারের জন্যও ঝুঁকি তৈরি করছে।

প্রতিবেদন বলছে, বিশ্বের বিভিন্ন দেশে এখন বাজেট ঘাটতিও বাড়ছে। সরকারগুলো অর্থনীতিতে ব্যয় বাড়াচ্ছে। এর সঙ্গে যুক্ত হচ্ছে প্রতিরক্ষা খাতের ব্যয়, অবকাঠামো উন্নয়ন ও পরিবেশবান্ধব জ্বালানি খাতে বিনিয়োগ। এসব কারণে সরকারের অর্থের চাহিদা বাড়ছে। ফলে ঋণের বাজারে চাপ আরো বাড়তে পারে।

পিটারসন ইনস্টিটিউটের প্রেসিডেন্ট অ্যাডাম পোসেনের মতে, মূল্যস্ফীতির ঝুঁকির পাশাপাশি বিভিন্ন দেশের রাজনৈতিক স্থিতিশীলতা নিয়েও ঝুঁকি রয়েছে। যুক্তরাষ্ট্র, ফ্রান্স, জাপান ও যুক্তরাজ্যের রাজনৈতিক পরিস্থিতিও বন্ডের ইল্ডে প্রভাব ফেলতে পারে। এর সঙ্গে ভূরাজনৈতিক উত্তেজনা যুক্ত হলে ঝুঁকি আরো বাড়বে।

প্রতিরক্ষা, জনসংখ্যাগত চাহিদা, অবকাঠামো ও সবুজ বিনিয়োগে ব্যয় বাড়ায় দীর্ঘমেয়াদে সুদহার বাড়তে পারে। এর সঙ্গে যুক্ত হয়েছে কৃত্রিম বুদ্ধিমত্তা বা এআই খাতে বিপুল বিনিয়োগ। সম্পতি বিপুল অর্থ যাচ্ছে এআই অবকাঠামো তৈরিতে। এতে সরকারি বন্ডের মতো অন্যান্য বিনিয়োগ মাধ্যমের জন্য অর্থের জোগান কমে যেতে পারে। ফলে বন্ডের ইল্ডের ওপর আরো ঊর্ধ্বমুখী চাপ তৈরি হওয়ার আশঙ্কা রয়েছে।

আইএনজির প্রধান বৈশ্বিক অর্থনীতিবিদ জেমস নাইটলির মতে, বাড়তি ঋণ ব্যয় শুধু সরকারি অর্থ ব্যবস্থার জন্য সমস্যা নয়। যুক্তরাষ্ট্রে এটি এরই মধ্যে অর্থনৈতিক কর্মকাণ্ডেও প্রভাব ফেলছে। কারণ পরিবার ও কোম্পানির ঋণ নেয়ার খরচ বেড়ে যাচ্ছে। দেশটির আবাসন বাজারও স্থবির হয়ে পড়েছে। ইল্ডের ব্যবধান বাড়তে থাকলে বন্ধকি ঋণের সুদ ৭ শতাংশের ওপরে উঠতে পারে বলে সতর্ক করেন তিনি।

ইল্ডের উত্থানকে দীর্ঘস্থায়ী প্রবণতা হিসেবে দেখার বিষয়ে সতর্ক করেছেন মরগ্যান স্ট্যানলির ইউরোপীয় রেট কৌশল বিভাগের প্রধান জিয়ানলুকা সালফোর্ড। সব মিলিয়ে বন্ড ইল্ডের সাম্প্রতিক উত্থান এখন জি৭ দেশগুলোর জন্য নতুন আর্থিক চাপ তৈরি করছে। যুদ্ধ ও মূল্যস্ফীতির ঝুঁকির সঙ্গে বাড়ছে সরকারি ঋণ। একই সময়ে এআই ও অন্যান্য খাতে বিনিয়োগের চাহিদাও বাড়ছে। ফলে বিশ্বজুড়ে ঋণ ও বিনিয়োগের অর্থের চাহিদা-জোগানের পরিস্থিতিতে পরিবর্তন এসেছে। এমন পরিস্থিতিতে ইল্ড আরো বাড়লে সরকারি ঋণ ব্যয়ের পাশাপাশি ব্যবসা ও বিনিয়োগেও এর প্রভাব পড়তে পারে।

European Union nations outside the euro have made little to no progress in convergence in recent years and even Hungary, the nation most actively ​discussing accession, meets none of the key criteria, a European Central ‌Bank report showed on Wednesday.

All EU members except for Denmark have a legal requirement to adopt the common currency but non-compliance is not penalised, so only a few are actively ​working on joining, with most others preferring to retain the leverage provided ​by an independent monetary policy.

"Progress towards compliance with the convergence criteria ⁠has been held back by external shocks," the ECB said in a biennial ​report, echoing a similar conclusion made two years ago and suggesting that progress ​has essentially stalled.

"Public finances have deteriorated in most countries since the 2024 Convergence Report, with debt-to-GDP ratios in some cases rising significantly," the ECB said.

While Bulgaria joined the currency bloc at ​the start of the year, the five prospective members --the Czech Republic, Hungary, Poland, ​Romania and Sweden -- all appear many years away from membership.

Hungary's new government promised to meet key conditions, ‌commonly ⁠known as the Maastricht criteria, by 2030 but the country is among the furthest away.

It has the highest debt and interest rate level among the five, while its budget deficit, inflation rate and its currency's volatility level are all outside ​reference values.

In addition, its ​central bank law ⁠does not comply with requirements and it needs to improve the rule of law and tackle corruption, the ECB's report ​said.

"Further improving the quality of public institutions and ensuring that ​they are ⁠free from undue political interference, fighting corruption, implementing adequate product market policies and safeguarding the rule of law, are prerequisites for private sector-led economic growth," the ECB said ⁠of ​Hungary.

Hungary also faces structural challenges related to ageing ​as well as emerging skill mismatches in the labour market, the ECB added.

US consumer sentiment fell in August, survey data from the University of Michigan confirmed Friday, reflecting worries over persistent inflation as war in the Middle East weighs on the world’s biggest economy.

“Consumer sentiment confirmed its early month reading, falling about six percent from last month,” said Joanne Hsu, director of the survey.

This is 11 percent down from a year ago, with the gloominess fueled by “continued worries that inflation will remain elevated for the foreseeable future,” she added.

The university’s consumer sentiment index came in at 51.7 this month, a slight revision from the preliminary reading of 51.0 points.

This was a retreat from July’s reading of 55.2 points.

Global energy prices soared after the United States and Israel launched the war on Iran in late February, plunging the Middle East into conflict.

Tehran had retaliated by attacking Washington’s Gulf allies and snarling a fifth of the world’s oil and gas supplies. “Sentiment declines in August were seen for all political groups and were particularly acute among Republicans,” the University of Michigan survey found.

This comes just months ahead of key US midterm elections in November. Survey data added that older consumers, alongside those from lower- and middle-income groups, showed a sharper drop in sentiment.

War in the Middle East has already sent US inflation higher, with prices at the gasoline pump climbing and piling pressure on households.

“With ongoing policy uncertainty including the Iran conflict, consumers anticipate further increases in gasoline prices both in the short and long run,” Hsu said.

While year-ahead inflation expectations crept down to 4.0 percent, from 4.2 percent in July, current readings still exceed levels seen before the war began.

The government has identified 14 factors behind the slow implementation of the Annual Development Programme (ADP), including flawed project documents, lack of skilled project directors, delays in land acquisition and lengthy procurement processes.

It has taken several measures to address the problems, including improving feasibility studies, expanding e-GP use, appointing project directors based on skills and experience, and strengthening field-level monitoring.

Planning Minister Amir Khosru Mahmud Chowdhury disclosed the information in reply to a question from reserved women's seat lawmaker Rokeya Begum during the third session of the 13th parliament today (27 August). Speaker Hafiz Uddin Ahmed chaired the session.

The minister said weak project preparation, poor feasibility studies and inconsistencies in project data were among the major obstacles to timely ADP implementation.

Other factors include delays in land acquisition and utility relocation, repeated extensions of project timelines and costs, lack of proper exit plans and delays in procurement.

The government also identified inadequate use of research findings, weak project monitoring, mismatches between financing plans and budgets, weaknesses in selecting project locations, and poor coordination and division of responsibilities among agencies.

Delays in preparing Development Project Proposals or Technical Assistance Project Proposals after securing funding from development partners were also identified as a problem.

The minister said failure to follow guidelines in appointing project directors and performing their responsibilities, along with weaknesses in results-based planning and evaluation frameworks, were also slowing implementation.

Measures to speed up implementation

The government is working to improve the quality of feasibility studies and project preparation before projects are approved, the minister said.

Use of e-GP in public procurement is being expanded, while coordination among agencies has been strengthened to expedite land acquisition and utility relocation.

For project directors, professional qualifications, skills and practical experience will receive greater priority. The government is also seeking continuity in project leadership where necessary. Regular project review meetings and closer field-level monitoring have also been strengthened.

Projects with less than 30% implementation progress will undergo reviews to assess their relevance and effectiveness. Ministries and divisions have been asked to consider restructuring, changing project scope or continuing such projects based on the reviews.

Dashboards are also being introduced at relevant ministries and divisions to monitor project progress regularly.

The government will review delays, irregularities, cost increases and revisions in projects that fail to meet deadlines and take action against responsible individuals or organisations in accordance with regulations, the minister said.

Wall Street stocks dipped while the dollar rallied Friday after Federal Reserve chief Kevin Warsh flagged fighting high inflation as a priority in a speech received as more hawkish than expected.

“We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed. Otherwise, we have work to do,” Warsh said in a highly anticipated speech.

Short-term US Treasury bonds, which reflect monetary policy expectations, saw yields spike in anticipation of a higher Fed rate after the speech in Jackson Hole, Wyoming.

Futures markets also raised the odds of a rate hike in September, while the dollar jumped against the euro and other major currencies.

At 3.7 percent, inflation in the world’s biggest economy is nearly double the Fed’s target of two percent, and investors worry that high energy prices from the Iran war could persist as winter approaches.

“On the price-stability side of our mandate, the numbers are more concerning,” Warsh said, even as he said he was “impressed” with US economic performance, with employment “doing well”.

Wall Street stocks remained in positive territory for a stretch after the speech, but later moved downward. The S&P 500 finished down 0.3 percent.

“Kevin Warsh’s speech at the Jackson Hole symposium delivered a far clearer -- and hawkish -- message than his last press conference appearance” in July, said Stephen Brown, an economist at Capital Economics.

“Hikes are not guaranteed, but Warsh is now at least suggesting he is on board with them if economic growth remains strong” and inflation remains elevated, he said. Earlier, European stocks closed higher, with Paris climbing one percent as luxury shares led gains.

Asian equity markets largely advanced Friday, though tech firms struggled to extend Thursday’s rally that came on the back of Nvidia’s profit blowout and bumper forecast, which soothed worries over the AI boom.

Tokyo and Hong Kong rose, while Seoul and Shanghai retreated.

Oil prices finished slightly lower as traders weigh assessed the mixed signals over the prospects for a reopening of the Strait of Hormuz against US threats against Iran.

US officials have vowed an “economic asphyxiation” to make Iran open the Strait of Hormuz -- through which about a fifth of world oil usually passes -- after six months of war.

Dutch-Bangla Bank PLC (DBBL) has decided to more than double its authorised capital to Tk3,500 crore, creating room for future equity issuance as it prepares to meet Bangladesh Bank's new capital requirement for cash dividends.

The board approved the decision at its meeting on Tuesday (25 August), according to a price-sensitive disclosure filed with the Dhaka Stock Exchange (DSE) today (27 August).

The board approved raising authorised capital from Tk1,500 crore to Tk3,500 crore. The proposal will be placed before shareholders at an Extraordinary General Meeting (EGM) on 15 October, with 20 September set as the record date.

Following the disclosure, DBBL's share price rose 1.10% to Tk46.10 on the DSE.

Capital requirement drives move

The move comes after Bangladesh Bank, in a circular issued on 23 May, set a minimum paid-up capital requirement of Tk2,000 crore for commercial banks to remain eligible to declare cash dividends from 31 December 2026.

DBBL's current paid-up capital is Tk1,015 crore, leaving a Tk985 crore shortfall. The bank will therefore need to issue substantial bonus or rights shares to meet the threshold.

Increasing authorised capital will provide the legal headroom needed for such future equity issuance.

DBBL paid a 25% cash dividend and 5% stock dividend for 2025. Strengthening its capital base is expected to help the bank maintain dividend payments under tighter rules, which also cap the portion of declared dividends that even well-capitalised banks can pay in cash at 50%.

Earnings surge

DBBL's earnings also strengthened sharply in the second quarter of 2026. Its earnings per share (EPS) jumped 947% year-on-year to Tk1.78 in April-June, from a restated Tk0.17 a year earlier.

For January-June, EPS rose 318% to Tk4.35, compared with a restated Tk1.04 in the first half of 2025.

The bank's net asset value (NAV) per share stood at Tk61.15 as of 30 June, while net operating cash flow per share (NOCFPS) increased to Tk13.89.

Land purchase for data centre

The board also approved the purchase of 16.60 decimals of land in Baipail, Savar, for Tk3.48 crore.

Subject to Bangladesh Bank approval, the land will support the expansion of DBBL's ongoing data centre project at Dhaka Export Processing Zone (DEPZ), aimed at strengthening its digital banking operations.

US retailers, manufacturers and small businesses are paying hefty fuel surcharges to ship their goods, not only as the US-Israeli war on Iran boosts fuel costs but also as some shippers profit from the fees.

The charges have become a growing source of tension across supply chains, with customers arguing that some companies are using them to boost profits rather than simply recover higher fuel costs. Ultimately, those extra costs can be passed on to inflation-weary consumers.

The surcharges have generated tens of millions of dollars in profit for railroad operator Union Pacific and provided a modest earnings boost for UPS, the companies said.

In the clearest publicly available example, Union Pacific collected $91.1 million more in fuel surcharge revenue than it paid for fuel during the second quarter, boosting profits by $83.2 million, or 14 cents per share.

Union Pacific's result far outpaced rivals, spurring concerns that fuel recovery charges are generating profit.

"Ultimately, fuel surcharges are a component of the overall cost we negotiate with customers and ⁠something they take into consideration when choosing Union Pacific and the service we provide," the company said in a statement.

US railroads are the only transportation providers required to report fuel costs and surcharge revenue to federal regulators, offering a rare window into the impact of the charges since the Iran war began on 28 February.

Fuel surcharges are designed to offset higher energy costs, but customers have long argued they can become disconnected from the actual cost of fuel and boost profits.

UPS and FedEx, have steadily increased the size of their fuel surcharges in recent years.

"The original part of the cost consideration almost seems to be lost in translation," said Mingshu Bates, chief analytics officer at invoice auditing firm AFS Logistics, referring to the growing surcharge rates.

When the average diesel price was $3.35 a gallon in August 2021, UPS added a fuel charge of about 9% to the base shipping rate for the everyday packages shipped to homes and businesses. That surcharge is 24.25% today for UPS and 23.75% for FedEx, according to an analysis by AFS Logistics.

UPS and FedEx, often described as a duopoly because of their dominance of the market, offer customers little room to push back because their fuel surcharges are broadly similar.

UPS Chief Financial Officer Brian Dykes said fuel surcharge collections had a "modest" net impact on consolidated ⁠operating profit in the latest quarter. Brie Carere, chief customer officer at FedEx, said they were "not a material driver of our adjusted operating income."

Neither company explained why the surcharge percentages have risen so sharply.

For contrast, the heavily regulated United States Postal Service imposed its first surcharge on April 26: 8% on most packages.

MAERSK'S 'COMPETITIVE ADVANTAGE'

The issue extends beyond US railroads and parcel delivery firms. War-related disruption and higher fuel costs have rippled through global shipping networks, allowing some carriers to impose emergency surcharges and raise rates, fueling complaints that crisis-driven fees have become a profit source.

Fuel surcharges have also supported profits at container ship companies such as A.P. Moller-Maersk.

The Danish carrier reported second-quarter profit excluding items of $3 billion, almost $1 billion more ⁠than analysts expected and up from $2.3 billion the year earlier.

Maersk imposed emergency surcharges and made other adjustments to cover higher fuel costs for the roughly 70% of cargo it moves under longer-term contracts. A rate surge on the remaining spot market shipments drove profit in the quarter, executives said. The company did not directly address the impact of fuel surcharges on profits.

Chief Executive Vincent Clerc in an earnings call this month said digital investments helped the company raise rates more quickly ⁠than rivals, an ability he called a "competitive advantage." Maersk declined to elaborate further.

An analysis by supply chain data provider VesselBot showed that when marine fuel costs jumped about 30% this year, container shipping fuel surcharges surged by as much as 75%, decoupling dramatically after closely tracking fuel prices in 2025.

"After March, these charges exploded," said VesselBot CEO Constantine Komodromos.

Analysts said freight rates and surcharges in container shipping currently are driven as much by supply ⁠and demand as by underlying costs, giving carriers scope to recover more than just higher fuel bills when market conditions are favorable.

Ship operators' bargaining power is at its strongest since the COVID-era shipping boom, according to Xeneta chief analyst Peter Sand.

Industry earnings reports have reinforced container cargo customers' long-standing concerns that transport providers can use periods of disruption to push through additional charges. James Hookham, director of the Global Shippers Forum, said Maersk's latest profit figures would do little to ease those fears.

"The Maersk results further enforce the 'crisis-means-cash' syndrome," Hookham said.

Eel fish, which grows naturally in haors, beels and other water bodies across Bangladesh, has emerged as a major live fish export product, helping drive a more than threefold increase in the country's live fish exports over the past decade.

Although domestic demand for eel remains limited, exporters say strong demand in international markets has created opportunities for the fish collected from natural sources to be shipped abroad.

According to the Export Promotion Bureau (EPB), Bangladesh earned $8.05 million from live fish exports in FY2016-17. The figure rose to $25.98 million in FY2025-26, marking a 222.7% increase over the decade.

Recent trade data also indicate continued growth. Bangladesh earned $15.06 million from live fish exports during July-December of FY2025-26, up 5.98% from $14.21 million in the same period a year earlier.

Exporters say eel accounts for a significant share of live fish exports. With relatively low domestic demand, most eel collected from natural sources can be exported.

Mahmudur Rahman, proprietor of exporter HIS Investment, told The Business Standard that the company exports almost all the eel it collects because of limited demand in the local market.

China is the largest market, while Japan, Hong Kong, Thailand and Vietnam are also important destinations, he said. The company makes an average of two shipments a week.

Mahmudur said relatively low prices make Bangladeshi eel attractive in international markets.

Before the monsoon, exporters can receive around Tk300 per kilogram, although prices sometimes fall to Tk180. During Christian festivals, stronger demand can push prices up to around Tk600 per kilogram, he added.

However, exporters face challenges in maintaining consistent quality and supply as the industry relies heavily on naturally harvested eel.

"Alongside natural harvesting, the government needs to focus on artificial breeding and production to ensure a steady supply and maintain export continuity," Mahmudur said.

Bangladesh currently exports eel to around 15 countries, according to fisheries sector sources. Major markets include Japan, China, Mongolia, Thailand, Malaysia and South Korea.

Researchers warn that continued dependence on natural harvesting could create supply constraints as exports expand. They say developing eel farming and artificial breeding will be crucial to sustaining the industry.

Researchers also see scope for increasing the value of eel through processing into higher-value products such as canned food.

Dr Paresh Kumar Sharma, head of the eel fish research team at Bangladesh Agricultural University, said eel can be processed into safe, nutritious and long-shelf-life canned food. Scientific rearing after collection from natural sources can also improve its quality, he said.

Eel contains omega-3 fatty acids and has medicinal value, according to Paresh.

His research team has experimentally produced canned eel using temperature control, hygienic processing, quality packaging and preservation technologies.

However, limited access to authorised quality-testing facilities remains a challenge for the sector, he said. BSTI approval could encourage agricultural businesses to invest in commercial canned eel production and create new export opportunities, he added.

Research is also underway on artificial production of eel fry, Dr Sharma said. Successful breeding could reduce reliance on natural harvesting and help ensure a consistent supply of quality eel, creating scope for further expansion of the export-oriented industry.

Apex Footwear has introduced biodegradable shopping bags, replacing conventional plastic ones, for its customers amid growing concern over the widespread use of plastic in Bangladesh and its impact on the environment.

The bags use a bio-resin derived from corn starch and do not contain synthetic materials such as polyethylene and polystyrene, which are commonly used in traditional plastic packaging, Apex said in a press statement.

Apex, one of the largest footwear manufacturers in the country, said the bags have been tested by the Bangladesh University of Engineering and Technology (BUET) and the Bangladesh Council of Scientific and Industrial Research (BCSIR) to assess their quality and environmental characteristics.

According to test findings, the bags can fully biodegrade within seven months of disposal without leaving harmful residues.

Plastic waste, particularly single-use items such as polythene, has been cited by environmentalists and authorities as a major challenge for waste management, drainage systems and ecosystems.

Bangladesh generates around 800,000 tonnes of plastic waste a year, of which only about 40 percent is recycled, according to the Bangladesh Plastic Goods Manufacturers and Exporters Association.

Apex Footwear has a retail presence across 64 districts, with more than 250 retail outlets nationwide, along with more than 260 franchise outlets and a network of over 90 wholesale dealers, according to Raihan Kabir, head of marketing at Apex Footwear.

Together, its outlets require around 700,000 shopping bags a month, he said.

The footwear manufacturer is the latest to join the transition from plastic bags in stores.

Supershops have also moved to cut plastic use in recent years. Following the enforcement of a decades-old polythene ban, chains including Shwapno, Agora, Unimart and Meena Bazar began offering jute and paper bags at checkout counters.

Speaking on the launch of the bags, Raihan said the company had been seeking an alternative to its existing shopping bags for some time.

“We had been looking for something that would allow us to take our sustainability efforts to a wider group of consumers,” he told The Daily Star yesterday.

The search for a supplier took more than a year, as Apex evaluated several locally developed alternatives before selecting a manufacturer capable of meeting its requirements

Raihan informed that a group of students from Chattogram first approached the company with a jute-based bag.

“I found the idea interesting because sustainability is one of our core values. But when we looked at their production capacity, raw material availability and financial strength, we realised they were not yet in a position to supply a company of our size,” he said.

Later, a supplier from Rajshahi proposed a corn-starch bag, but was also found to lack sufficient production capacity to fulfill Apex’s needs.

The footwear company eventually began working with a packaging manufacturer supported by BRAC, after assessing its production capacity, financial stability, raw material availability and technical certifications.

“We checked their documents and were satisfied with their capacity. That was when we decided to start working with them,” he said.

Developing samples and negotiating prices took 6-7 months, as the initial cost of the biodegradable bags was considerably higher than that of conventional alternatives, Raihan said.

“After several rounds of sample development and negotiation, we reached a level where we felt we could move forward,” he said.

The bags were introduced at several outlets on a pilot basis to collect feedback from customers and staff before wider rollout. “The response was very positive. Our store managers, sales officers and customers appreciated the initiative.”

Raihan said the bag initiative is part of broader sustainability efforts at the company.Water-saving measures had also helped reduce electricity consumption from generators by around 30 percent, and Apex has also received a sustainability-related award from Singapore, he said.

Seat-trim covers made at a Japanese-owned factory in Bangladesh are shipped to Japan, where they are assembled into complete seats and fitted into vehicles made by manufacturers including Honda and Suzuki.

TS Tech Bangladesh Limited, located at Adamjee Export Processing Zone (EPZ), began operations in Bangladesh in January 2017. The company has invested $4.67 million in the country, employs 375 people and exported products worth $14.75 million in the last fiscal year, mainly supplying seat-trim covers to Japanese vehicle manufacturers.

The company operates from a six-storey Standard Factory Building (SFB) rented from the Bangladesh Export Processing Zones Authority (Bepza).

At the factory, workers cut leather and other materials, sew different components and prepare seat-trim covers according to specific designs. Most of the raw materials are sourced from Japan and China.

The finished covers are then sent to different TS Tech facilities in Japan, where they are assembled into complete seats before being supplied to the respective vehicle manufacturers.

"Among our major customers are Honda, Yamaha, Suzuki and Kawasaki in Japan. At our facility, we mainly produce car seat-trim covers, motorcycle seat-trim covers and various plastic parts like door trims and roof trims," Satoru Onishi, managing director of TS Tech Bangladesh, told TBS.

"Cutting and sewing of raw materials are mainly done at the Bangladesh factory. Complete seats are then prepared in Japan and later installed in vehicles at the manufacturers' end," he said.

The Bangladesh factory currently produces about 206,000 seat-trim cover units a year, and the company plans to maintain roughly the same level of production next year.

Automation and 3D printing

During a visit to the factory recently, the production floor was found busy across a large area. Leather materials were being cut in some sections, while workers used sewing machines to stitch different parts. Others were carefully joining sections of the covers, while workers elsewhere inspected and measured finished products.

Onishi said TS Tech is increasingly focusing on productivity and automation while using modern technologies such as 3D printing for internal production work. The company's production capacity has been expanded gradually since it began operations.

The company began several initiatives in August 2023 to improve its production system. These included installing conveyor belts, automation systems and auto-lay machines.

It also manufactures various jigs and production-support equipment in-house for use in its manufacturing process. Some of these tools are designed and produced using 3D printers.

TS Tech is a global company with 73 plants operated under 13 establishments around the world. The group has about 141,000 employees in total, including around 16,000 in Japan.

"In the Japanese market, we make products for various companies. Outside Japan, TS Tech also does business with various international vehicle manufacturers," Onishi said.

Day-care centre

Alongside its manufacturing operations, TS Tech Bangladesh has introduced workplace facilities aimed at supporting its employees, around 60% being women.

The company opened an in-house day-care centre in 2025. Onishi said 19 children were currently staying there under the care of five babysitters.

Asma, a Japanese-language interpreter at the company who has a child at the day-care centre, said, "It is very helpful for me. I can leave my child at the day-care centre and concentrate on my work without worry."

The company also provides special facilities for pregnant employees, who wear separate green ribbons so they can be easily identified and given the necessary support.

A worker wearing a green ribbon said, "Pregnant employees receive special care."

Bangladesh has sought greater cooperation from the United States on small modular reactors (SMRs), peaceful nuclear technology and other areas of the energy sector as it looks to strengthen energy security and meet rising electricity demand.

The issue was discussed at a meeting between Science and Technology Minister Faqir Mahbub Anam and US Energy Secretary Chris Wright in Washington, DC, on Thursday.

The Bangladesh minister stressed the importance of adopting modern and safe nuclear technologies and expanding the exchange of technology, expertise and knowledge with the US and other technologically advanced countries, according to a press statement

Anam said the peaceful use of modern and safe nuclear technology could play an important role in meeting the country's growing energy needs, strengthening energy security and supporting sustainable development.

Bangladesh remained committed to the peaceful, safe and responsible use of nuclear technology and wanted to deepen the exchange of knowledge, experience and technology with countries such as the US, he added.

US Energy Secretary Wright expressed a positive view of the potential for greater US-Bangladesh cooperation in the energy and nuclear technology sectors.

He noted that the development and expansion of modern nuclear technologies, including SMRs, were among the priorities of the US.

The two sides also discussed possible US assistance in the energy sector, technology and knowledge exchange, and ways to deepen mutual understanding and cooperation in nuclear science and technology.

They expressed interest in working together to further strengthen cooperation in nuclear science and technology as well as the broader energy sector.

The securities regulator has stepped in to protect general investors of three listed non-bank financial institutions (NBFIs), urging Bangladesh Bank (BB) not to proceed with liquidation or delisting without safeguarding shareholders’ legitimate interests, official sources said.
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In a letter to the Bangladesh Bank governor, the Bangladesh Securities and Exchange Commission (BSEC) said general investors should not be made to bear the consequences of the financial distress of the troubled institutions.

The three NBFIs -- Fareast Finance & Investment, International Leasing and Financial Services, and FAS Finance & Investment -- are facing liquidation after the BB deemed them non-viable due to persistent losses and erosion of capital.

The three are among four financial institutions brought under resolution by the BB through an order issued on August 10 under the Bank Resolution Act, 2026.

The BSEC's intervention comes at a critical stage because resolution of a financial institution ultimately involves restructuring, transfer of assets and liabilities, liquidation or cancellation of its listing—steps that may have major implications for ordinary shareholders.

One of the BSEC's key proposals is that if the government provides compensation to any party as part of the resolution process, a portion should be allocated to general investors.

The commission also proposed a mechanism for determining the minimum value of general shareholders' interests before liquidation.

The proposal is significant for small investors, who have purchased shares of the listed NBFIs from the stock market and may face substantial losses if the companies are liquidated or delisted without an investor-compensation mechanism.

The BSEC has also opposed any move to liquidate or delist the three companies before the interests of general shareholders are assessed and disclosed.

Alternatively, a price should be fixed and publicly announced for the shares held by general investors, it said.

Such a requirement, if followed, would provide shareholders with greater clarity over what their investments are worth before the companies cease to exist as listed entities.

The securities regulator has also asked BB to consult it on investor-protection issues whenever the resolution of the companies is discussed with the government.

The BSEC further requested that it be kept informed of developments in the liquidation process.

The developments involving the three listed NBFIs could become an important test of how the country's new resolution framework balances competing interests of depositors, creditors, shareholders and other stakeholders.

For ordinary shareholders, liquidation can mean losing both their investment and the opportunity to recover any value from their shares. Unlike controlling shareholders or management, however, general investors might have had little or no involvement in the decisions that led to the financial distress.

Meanwhile, the latest financial disclosures paint a grim picture of the three listed NBFIs.

FAREAST Finance reported a negative EPS of Tk 3.75 and negative NAV per share of Tk 54.23 for January-September 2025.

International Leasing's EPS stood at negative Tk 6.71, while its NAV per share plunged to negative Tk 219.03 during the same period.

FAS Finance reported an even steeper negative EPS of Tk 10.34 for January-June 2026, with its NAV per share deteriorating to negative Tk 158.39.

Japan External Trade Organization (JETRO) Country Representative Kazuiki Kataoka said political and social stability following Bangladesh's February 2026 general election has encouraged Japanese companies to reassess the country's market potential and investment opportunities.

In an interview with BSS, Kataoka said political and social instability had been one of the major concerns for Japanese investors under the interim government.

The establishment of a new government following the election, however, has provided companies with greater scope to formulate medium- and long-term business plans and consider investment decisions, he added.

According to JETRO's FY2025 Survey on Business Conditions of Japanese Companies Operating Overseas, 94.4 percent of Japanese companies operating in Bangladesh identified "unstable political and social conditions" as an investment risk.

The figure was almost unchanged from 94.8 percent in the previous year, indicating that political and social stability remained a major concern for Japanese businesses, he said.

"Greater stability makes it easier for companies to formulate medium- and long-term business plans and make investment decisions," Kataoka said.

He noted that JETRO has recently observed an increase in visits to Bangladesh by senior executives of Japanese companies from their headquarters in Tokyo and regional offices such as Singapore.

"I believe that one factor behind this trend is that, with political and social conditions becoming more stable, more companies are reassessing Bangladesh's market potential and business opportunities," he said.

However, Kataoka cautioned that political stability alone would not automatically lead to a significant increase in investment.

He stressed the need for continued improvements in the day-to-day business environment, particularly in taxation and customs clearance, licensing and permits, and the transparency of laws and regulations.

Regarding the future of Bangladesh-Japan economic relations, Kataoka said the two countries should move beyond traditional development cooperation and build a stronger trade- and investment-driven partnership.

He also emphasized that economic relations should not be limited to Japanese investment in Bangladesh.

"Economic relations should not be limited to investment from Japan into Bangladesh. We would also welcome investment from Bangladeshi companies into Japan," he said.

"To further develop economic relations between the two countries, it is important not only to promote investment in one direction, but also to expand investment and business transactions by companies from both countries and build a relationship that generates mutual economic benefits," Kataoka added.

He said Japanese companies have shown increasing interest in Bangladesh's domestic consumer market, particularly in Dhaka.

Citing a survey by the Dhaka Chamber of Commerce and Industry (DCCI), Kataoka said Dhaka accounts for approximately 46 percent of Bangladesh's GDP, while its per capita income exceeds US$5,000.

Alongside Bangladesh's population of around 180 million, rising income levels in Dhaka are making the capital increasingly attractive as a consumer market, he said.

Kataoka pointed to the growing number of cafes, restaurants and other businesses in Dhaka offering higher levels of quality and service as an indication of rising demand for quality products and services.

He also noted that Bangladesh's relatively high tariff rates can make imported products expensive.

"As a result, some Japanese companies are considering entering the market not simply through exports, but by combining local production with local procurement," he said.

He identified food and consumer goods as sectors that could offer increasing opportunities for Japanese companies as domestic demand expands.

The combination of Bangladesh's large population, rising consumer demand and potential for local production could provide a stronger basis for Japanese investment in the coming years, he said.

At the same time, Kataoka reiterated that sustained efforts to improve the business environment would be crucial to translating growing investor interest into actual investment commitments.

The amount of cash held outside Bangladesh's banking system continued to rise in June, signalling a growing preference for physical money at a time when economic activity remains subdued and confidence in banks has yet to fully recover.Bangladesh Trade Data
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Currency in circulation outside banks, often dubbed mattress money, rose to Tk 3.36 trillion at the end of June 2026, up 13.5 per cent from Tk 2.96 trillion a year earlier, according to Bangladesh Bank data.

The increase means an additional Tk 400 billion was held outside the formal banking channel over the year, potentially putting further pressure on banks' cash positions as demand for withdrawals remains elevated.

The latest figure also represents a sharp increase from Tk 3.03 trillion recorded in March, with cash outside banks rising by around 10.9 per cent in just three months.

The buildup gathered pace during the first quarter of 2026. Currency outside banks increased from Tk 2.83 trillion in January to Tk 2.86 trillion in February before jumping to Tk 3.03 trillion in March.

People familiar with the development said banks were continuing to face pressure on their vault cash as customers preferred holding physical money rather than keeping funds as deposits.

They said uncertainty surrounding the banking sector, including the unexpected change of leadership at the banking regulator and amendments to a relevant legal instrument, had not been viewed positively by depositors and other market participants.Economic Trend Analysis

Such developments have contributed to uncertainty and encouraged some depositors to hold more cash outside banks, they added.

The rise in cash holdings came as overall money supply expanded at a comparatively slower pace.

Broad money, or M2, increased 11.11 per cent year-on-year to Tk 24.16 trillion in June 2026, up from Tk 21.74 trillion a year earlier.

This means currency outside banks grew about 2.4 percentage points faster than broad money during the period, indicating that the increase in physical cash holdings outpaced the expansion of the overall money supply.

June's M2 growth was also higher than the central bank's estimated 10.80 per cent and well above the 6.95 per cent growth recorded in June 2025.

Meanwhile, reserve money (RM), which reflects the monetary base and includes currency in circulation and banks' reserves, surged by Tk 631.89 billion, registering 15.29 per cent year-on-year growth at the end of June 2026.

The faster growth in reserve money than M2 suggests that liquidity at the base of the monetary system expanded significantly, although a substantial portion of the increase in currency demand was held outside commercial banks.

Currency outside banks stood at Tk 2.96 trillion in June 2025, compared with Tk 2.90 trillion in June 2024, showing that the pace of cash accumulation has accelerated considerably over the past year.Market Analysis Service

The latest increase marks a significant shift from the relatively modest rise recorded between June 2024 and June 2025.

Industry Insiders said restoring confidence in the banking system would be crucial to bringing more cash back into formal financial channels.

They said sustained uncertainty could encourage households and businesses to maintain larger cash buffers, potentially weakening deposit mobilisation and constraining banks' ability to channel funds into productive lending.

M Masrur Reaz, chairman of Policy Exchange Bangladesh, said the rise in currency outside banks reflected heightened uncertainty among households and businesses and could indicate a preference for liquidity and precautionary cash holdings amid weak economic activity.

He said the trend could put additional pressure on banks' deposit mobilisation and reduce the funds available for productive investment if sustained.

"Restoring confidence in the banking sector is critical. Stronger governance, transparency and accountability, along with greater certainty over bank resolution measures, are needed to encourage people to keep their money within the formal financial system," he said.

Reaz added that the rise in currency outside banks should be monitored alongside deposit growth, credit demand and broader economic activity to determine whether it reflects temporary precautionary behaviour or a more persistent shift away from bank deposits.

Sales of state-run savings tools rebounded in the just-concluded fiscal year, signaling a recovery in demand for the government savings instruments after a sharp decline in the previous fiscal year.

However, the recovery remained fragile as investors continued to encash their certificates at a significant pace.

The instruments again recorded net repayment in the final month of the fiscal year, indicating continued pressure on household savings.

People familiar with the developments said the rise in fresh sales is encouraging, but the relatively weak net position suggests that investors remain cautious about locking their funds into savings certificates amid changing returns, liquidity needs and alternative investment opportunities.

Total sales of National Savings Certificates (NSCs) increased by Tk 240.74 billion, or 35.18 per cent, in FY26 over the previous fiscal year, according to Bangladesh Bank (BB) official data.

Total repayment also increased by Tk 175.75 billion, or 23.59 per cent, during the period.

As a result, the net sales of NSC stood at Tk 4.36 billion in FY26 against the net repayment of Tk 60.63 billion in FY25, reflecting a great improvement in NSC sales.

However, the government recorded a net repayment of Tk 3.69 billion in June, as repayments exceeded the volume of fresh sales.

The outstanding sales of NSCs stood at Tk 3.34 trillion at the end of June 2026, which was only 0.13 per cent higher than the amount a year earlier.

Dr Masrur Reaz, chairman of Policy Exchange Bangladesh, said the increase in the NSC sales was encouraging compared with the previous year's net repayment, but the relatively small net sales indicated that the recovery remained fragile.

"The renewed net repayment in June suggests that households are still cautious about keeping their funds locked in savings certificates. Investors are likely weighing returns against liquidity requirements and alternative investment opportunities," he said.

He said the government should focus not only on increasing gross sales but also on understanding the reasons behind the high level of repayments.

"A sustainable savings-certificate market requires predictable policies, prudent returns and greater confidence among small savers," Dr Reaz added.

He also suggested gradually diversifying the government's domestic borrowing sources and strengthening the bond market to reduce excessive reliance on NSCs.