A tanker carrying more than 27,000 tonnes of diesel reached the waters of Chattogram Port today (9 March), amid a nationwide fear of supply shortage ten days after the conflict in the Middle East broke out.

Shipping agents said four more diesel tankers are scheduled to arrive at the port within a week.

Together, the five tankers will bring about 147,205 tonnes of refined diesel imported from Asian countries, according to port and shipping sources.

The arrival comes at a time when diesel demand has increased due to panic buying following the war in the Middle East. To manage stock levels, the government has recently reduced the daily fuel supply.

Port sources said the tanker Xiu Chi, carrying 27,204 tonnes of diesel from Singapore, entered the port's maritime area earlier in the day. According to vessel tracking data from MarineTraffic, the tanker is currently anchored near Kutubdia.

Another tanker, Lian Huan Hu, is expected to reach the port tonight from Singapore with nearly 30,000 tonnes of diesel. The tanker SPT Themis is scheduled to arrive on Thursday carrying 30,484 tonnes.

Two additional vessels — Raffles Samurai and Chang Hang Hong Tu — are expected to reach the port next Saturday, each carrying around 30,000 tonnes of diesel.

Nazrul Islam, managing director of Pride Shipping Lines, the local agent for the four tankers, told The Business Standard that the vessels are expected to arrive within a week according to schedule.

"Once they reach the port waters, the unloading will begin sequentially," he said.

According to the Bangladesh Petroleum Corporation (BPC), the country's normal daily demand for diesel is around 12,000 tonnes. The five tankers together could meet roughly 12 days of demand.

However, since Sunday, the government has reduced daily diesel supply to about 9,000 tonnes to maintain adequate reserves. At that rate, the incoming shipments could cover around 16 days of demand.

Existing stockpiles are expected to last another 16 to 17 days, meaning the combined supply would be sufficient to meet nearly a month of the country's diesel demand.

BPC data shows that diesel accounts for about 70% of Bangladesh's total fuel consumption, with most of it imported directly.

According to the National Board of Revenue, Bangladesh imported 2.328 million tonnes of diesel from nine countries between July and February of the current fiscal year.

Of that total, 78% came from Singapore, Malaysia, and India, while no diesel was imported from Middle Eastern countries during the period.

The Group of Seven (G7) finance ministers will ‌discuss on Monday a joint release of oil from emergency reserves coordinated by the International Energy Agency, the Financial Times reported.

Three G7 countries, including ⁠the US, have so far expressed support for the idea, the FT said citing sources, and added that the ministers and the IEA Executive Director Fatih Birol will hold a call to discuss the impact of the Iran ‌war.

The ⁠report comes as oil prices surged more than 25% on Monday to their highest levels since mid-2022 as some major producers cut ⁠supplies and fears of prolonged shipping disruptions gripped the market due to the expanding US-Israeli ⁠war with Iran.

The IEA and the G7 presidency did not respond to ⁠requests for comment outside regular business hours.

Bangladesh Bank (BB) has appointed observers at National Bank, Al-Arafah Islami Bank, Premier Bank, and IFIC Bank to closely monitor their activities.

The central bank made the decision this week.

“The decision to appoint observers at these banks is part of a continuous process,” said Arief Hossain Khan, executive director and spokesperson of Bangladesh Bank.

Munir Ahmed Chowdhury, director of the Bank Supervision Department-12 of BB, has been appointed as an observer to the National Bank.

Mohammad Anisur Rahman, director of the Islamic Banking Regulations and Policy Department, has been assigned to observe Al-Arafah Islami Bank.

ANM Moinul Kabir, director of the Payment Systems Department-1, has been appointed to Premier Bank.

AKM Kamruzzaman, director of the Forex Reserve and Treasury Management Department-1, has been appointed to IFIC Bank.

The central bank usually appoints observers to banks whose financial health is deteriorating.

Observers take part in board meetings and monitor the banks’ operations. They are withdrawn once the financial health of the bank improves.

After the fall of the Awami League-led government on August 5, 2024, the central bank restructured the boards of 14 banks, including these four lenders.

The share price of British American Tobacco Bangladesh Company (BATBC) came under significant pressure after it reported a major loss and sharply reduced its dividend, triggering a negative investor reaction and a notable fall in the stock.

Around the annual disclosure on 2 March, the company's share price dropped by nearly 21% in four consecutive trading sessions.

The sharp fall came as the company, which has long been known for paying high dividends, significantly reduced its dividend payout this year, prompting many investors to sell their holdings.

Even before declaring the dividend, its share price had fallen 7% and after the news was widely reported, selling pressure intensified further. In the trading sessions following the publication of the news, the share price declined by around 21%, reflecting investors' concerns over the company's weak earnings performance and lower dividend declaration.

The company's share price today regained 2.41% to Tk216.80 on the Dhaka stock exchange, while the premier index DSEX rose 132 points in a positive sentiment.

BATBC recommended a 30% cash dividend for 2025, sharply lower than the 300% cash dividend it distributed in 2024, reflecting a significant decline in its financial performance.

The multinational tobacco company reported a loss of Tk136 crore in the October-December quarter of 2025, indicating a sharp deterioration in earnings due to declining cigarette sales and higher operating costs.

According to the company, earnings per share (EPS) fell by 67% for the year ended 31 December 2025, mainly due to lower turnover and increased operating expenses. Costs rose amid inflationary pressure and higher levels of operational activity in certain segments of the business.

In July 2025, the company shut down its Dhaka factory and transferred plant, machinery, and cigarette manufacturing equipment to its Savar factory. The forced closure, along with relocation and restructuring costs, created a one-off negative impact of Tk715 crore on operating profit compared to the previous year.

For the full year ended December 2025, the company's EPS stood at Tk10.81, while it posted a loss per share of Tk2.53 in the fourth quarter.

The company will hold its annual general meeting on 30 April, with the record date set for 1 April to approve the financial statements and proposed dividend.

After months of stability, Bangladesh’s currency has started to lose value against the US dollar as Bangladesh Bank stopped intervening in the market due to the possible impact of the US-Israel war against Iran.

Yesterday, the greenback was traded at a maximum of Tk 122.55 each, up from Tk 122.37 on the previous day.

The weighted average interbank exchange rate stood at Tk 122.49 per US dollar, up from Tk 122.43 a day earlier, according to the latest data from Bangladesh Bank.

The interbank exchange rate was Tk 122.36 last Thursday and Tk 122.33 on Wednesday, the data showed.

Central bank data shows that the weighted average interbank exchange rate against the greenback has continued to weaken since March 2 this year.

Officials of the central bank said the regulator has now stopped intervening in the market due to the possible impact, which is why the value of the taka has started to weaken against the US dollar.

They also noted that fuel prices in the international market have increased sharply, which is likely to raise import costs and lead to volatility in the forex market in the coming days.

Considering that potential impact, Bangladesh Bank halted purchasing US dollars from the market, they added.

Bangladesh Bank purchased more than $5 billion from the foreign exchange market since the beginning of this fiscal year until March 2.

However, between FY21 and FY25, Bangladesh Bank sold more than $25 billion from its foreign exchange reserves to meet import payments for fuel, fertiliser and food.

The new governor of Bangladesh Bank recently hinted that the regulator will provide US dollar support from forex reserves to import fuel if needed, officials said.

Due to Bangladesh Bank’s dollar purchase spree, the country’s foreign exchange reserves have continued to rise.

Forex reserves stood at $34 billion as of March 8 this year, according to Bangladesh Bank data. However, the reserves stood at $29.38 billion as per the IMF calculation.

On Saturday, eight leading economists of the country met the new governor of the central bank to discuss ways to address the possible impact of the Middle East crisis on the economy.

The economists suggested that Bangladesh Bank remain cautious about spending from the country’s foreign exchange reserves as tensions in the Middle East threaten to create fresh economic shocks.

They also warned that rising global fuel prices due to the Middle East crisis could increase the country’s import bills and eventually put pressure on the foreign exchange reserves.

The economists advised the central bank to explore alternative funding sources to settle fuel import payments instead of using the reserves.

The government has issued a fresh circular to appoint a managing director (MD) for state-owned Sammilito Islami Bank after the previously selected candidate declined to take the position.

The Financial Institutions Division of the Ministry of Finance published the new recruitment notice today (8 March), inviting applications from qualified and experienced candidates.

In February, Nabil Mustafizur Rahman, additional managing director of United Commercial Bank (UCB) PLC, was appointed as the MD of Sammilito Islami Bank.

However, he later expressed his inability to assume the role citing "physical illness," a reliable Bangladesh Bank source confirmed the matter to The Business Standard.

As he did not join the post, the authorities have issued a fresh recruitment notice for the position.

According to the circular, the selected candidate will initially be appointed on a three-year contractual basis, with the possibility of renewal based on satisfactory performance.

Applicants must have at least 20 years of experience in the banking sector. They must also have served either as the chief executive officer of a bank or held a position directly below the CEO for at least two years.

Candidates are required to have expertise in Islamic banking operations, Shariah governance, Islamic accounting systems, profit distribution mechanisms, and Islamic risk management. Experience in digital banking, organisational transformation, or bank mergers will be considered an added qualification.
Nabil Mustafizur Rahman appointed first MD of Sammilito Islami Bank

Applicants must be between 45 and 60 years of age at the time of the circular's publication and must not be loan defaulters.

The appointed MD will oversee all operations of the bank, including corporate, SME, retail, treasury, agriculture, international trade, and digital banking. The role will also involve developing Shariah-based banking products, strengthening risk management, and coordinating organisational integration following the bank merger.

Applications will initially be screened based on qualifications, after which shortlisted candidates will be invited for interviews. Final appointment will require background verification and approval under Bangladesh Bank's "fit and proper" criteria.

Interested candidates must submit their CV, cover letter, attested copies of academic and professional certificates, a copy of their national ID card, and a passport-size photograph. Applications must be sent in a sealed envelope addressed to the Secretary of the Financial Institutions Division at the Bangladesh Secretariat in Dhaka, along with a PDF copy sent via email.

The deadline for submitting applications is 25 March by 5pm.

Sammilito Islami Bank PLC was formed as a new state-owned bank through the merger of five weak Islamic banks – EXIM Bank, Social Islami Bank, First Security Islami Bank, Global Islami Bank, and Union Bank.

The bank's paid-up capital has been set at Tk35,000 crore, of which the government will contribute Tk20,000 crore and Tk15,000 crore will come from depositors' shares. Its authorised capital has been fixed at Tk40,000 crore.

Fuel reserves in Bangladesh have increased with the arrival of two fuel-laden ships, but the government will continue rationing supplies due to uncertainty surrounding the ongoing war, Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood Tuku said today (8 March).

"Once these two ships deliver fuel, our reserves will increase further," he said while speaking at a discussion programme at the Jatiya Press Club.

The minister said rising reserves do not mean fuel can be used in an uncontrolled manner. "We will continue rationing for as long as the war continues."

Explaining the need for rationing, Tuku said the duration of the war remains uncertain and the government wants to use the existing reserves carefully.

"We do not know when the war will end. That is why we have asked people to use fuel sparingly and introduced rationing so that the reserves last longer. If we consume everything at once, the reserves will quickly run out. But if we manage consumption properly, we will be able to continue for a longer time," he added.

Tuku also said rumours are being spread that the government may increase electricity and fuel prices due to the war.

"I want to assure people that we are not increasing power prices for now," he said.

The minister urged people not to panic or stockpile fuel out of fear of a price hike.

"There is no shortage of fuel, but rationing must continue. We do not know when the war will end, and people should understand that," he added.

The minister also urged BNP leaders and activists, as well as the public, to remain vigilant so that fuel is not smuggled or sold on the black market.

Referring to the condition of the power sector under the previous government, Tuku said the current administration inherited a fragile and debt-ridden system with outstanding dues of around Tk76,000 crore.

"Despite the challenges, we have managed to keep the system stable so far, and we hope it will remain stable in the future," he said.

Oil prices surged about 20% on Monday (9 March), hitting their highest since July 2022, as the expanding US-Israeli war with Iran ‌led some major Middle Eastern oil producers to cut supplies and on fears of prolonged disruption to shipping through the Strait of Hormuz chokepoint.

Iraq and Kuwait have begun cutting oil output, adding to earlier liquefied natural gas reductions from Qatar, as the war blocked shipments from the Middle East.

Analysts predict the United Arab Emirates and Saudi Arabia will have to also cut output ​soon as they run out of oil storage.

The war could leave consumers and businesses worldwide facing weeks or months of higher fuel prices even ​if the week-old conflict ends quickly, as suppliers grapple with damaged facilities, disrupted logistics and elevated risks to shipping.

Brent crude futures ⁠rose as much as $18.35, or 19.8%, to $111.04 a barrel and were up $15.24, or 16.4%, at $107.93 as of 0014 GMT on Monday.

US West Texas Intermediate (WTI) crude futures were ​up $16.50, or 18.2%, at $107.40 a barrel, after rising as much as $20.34, or 22.4%, to $111.24 earlier in the session.

Brent climbed 27% and WTI rose 35.6% last week, before ​the latest jumps.

"I think prices have rallied this morning on the reports that Middle East producers are now reducing output due to storage facilities filling up fast," said Daniel Hynes, senior commodity strategist at ANZ.

"The next flag will be whether it eventually gets to a point where they have to start shutting in oil wells, which not only impacts output even further, it ​delays a response once the conflict eases as well. That would potentially sustain those prices for much longer," Hynes added.

Iraqi oil production from its main southern oilfields ​has fallen by 70% to just 1.3 million barrels per day as the country is unable to export oil via the Strait of Hormuz due to the Iran war, three industry ‌sources said ⁠on Sunday. Crude storage has reached maximum capacity, said an official with the state-run Basra Oil Company.

Kuwait Petroleum Corporation began cutting oil output on Saturday and declared force majeure on shipments, though it did not say how much production it would shut.

Iran's attacks on oil infrastructure across the region have continued. Fujairah Media Office said fire broke out in the UAE's Fujairah oil industry zone resulting from debris falling, with no injuries reported. Saudi Arabia's Defence Ministry said on X it intercepted a drone heading to ​the Shaybah oilfield.

New leader

Iran on Monday named Mojtaba ​Khamenei to succeed his father Ali ⁠Khamenei as Supreme Leader, signalling that hardliners remain firmly in charge in Tehran a week into its conflict with the United States and Israel.

"With the appointment of the late leader's son as Iran's new leader, US President Donald Trump's goal of ​regime change in Iran has become more difficult," said Satoru Yoshida, a commodity analyst with Rakuten Securities.

"That view accelerated buying, ​as Iran is expected ⁠to continue its closure of the Strait of Hormuz and attacks on other oil-producing nations' facilities, as seen last week," he said, predicting WTI could rise to $120 and then $130 a barrel in a relatively short period.

Israel's military has threatened to kill any replacement for Khamenei, while Trump said the war might only end once Iran's military and rulers had ⁠been wiped ​out.

Meanwhile, as oil prices surged, US Senate Democratic Leader Chuck Schumer called on Trump to release ​oil from the Strategic Petroleum Reserve.

"President Trump should release oil from the SPR now to stabilise markets, bring prices down, and stop the price shock that American families are already feeling thanks to his ​reckless war," Schumer said in a statement.

Following the payment of $1.37 billion in bills to the Asian Clearing Union (ACU), the country's foreign exchange reserves have once again fallen below $30 billion.

Bangladesh Bank Spokesperson and Executive Director Arief Hossain Khan confirmed the development today (8 March), saying that after the ACU payment for January and February, the reserves now stand at $29.38 billion.

ACU payments are made every two months to settle import transactions among member countries under the regional clearing arrangement.

The ACU was established on 9 December 1974 under the initiative of the United Nations Economic and Social Commission for Asia, with its headquarters in Tehran, Iran.

The organisation facilitates the settlement of trade payments among its nine member countries – Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka – through a multilateral clearing system involving the central banks of these nations.

Banks will have to keep provisions for potential losses before loans turn bad, from January 2028, according to a directive given by Bangladesh Bank (BB), which aims to enable lenders to detect the risk of credit deterioration in advance and enhance transparency in financial reporting.

To identify potential loan losses, banks will be required to classify loans based on a global standard -- the International Financial Reporting Standard 9 (IFRS 9). It specifies how an entity should classify and measure financial assets, financial liabilities and some contracts to buy or sell non-financial items.

In a circular yesterday, BB introduced guidelines for the loan loss framework based on IFRS 9.

Under the guidelines, banks will be required to apply the IFRS 9-based Expected Credit Loss (ECL) model to funded and non-funded credit facilities from January 1, 2028. The system will later be extended to other financial instruments from January 1, 2029.

Under the new framework, loans will be classified into three stages based on changes in credit risk: performing loans (Stage 1), loans with a significant increase in risk (Stage 2), and credit-impaired loans (Stage 3).

Provisions will be calculated based on either 12-month or lifetime expected credit losses, depending on the stage. A provision against loans is an expense set aside by banks from their earnings to cover anticipated losses from unpaid or defaulted loans.

The new rules will also extend provisioning requirements to off-balance-sheet exposures such as loan commitments, bank guarantees and unused credit lines, enabling banks to assess risks more comprehensively.

Currently, banks follow a rule-based loan classification and provisioning system, which relies on the “incurred-loss” approach -- where provisions are typically made after loans show clear signs of deterioration.

The IFRS 9 framework will shift the system to a forward-looking model, requiring banks to estimate potential credit losses in advance rather than waiting for borrowers to default.

Lenders will also have to account for macroeconomic indicators such as economic growth, inflation and interest rate trends when assessing credit risk.

Banks will need to upgrade their data infrastructure and risk-modelling systems to implement the framework, while the central bank will provide regulatory guidance and supervisory support to ensure a smooth transition, central bank officials said.

Industry insiders said that the successful implementation of IFRS 9 would make the banking sector more resilient and attractive to foreign investors by strengthening international confidence.

The US dollar held broadly steady in Asian trade ​on Friday and was poised for its steepest weekly gain in more than a year as the escalating conflict in the Middle East drove demand for safe-haven ‌assets.

The euro and yen remained on the back foot as the crisis drove oil prices ever higher, spurring inflation risks in economies dependent on energy imports and upending policy expectations for the Federal Reserve and other central banks.

Earlier hopes for a de-escalation gave way to fresh uncertainty, with Iran warning that Washington would “bitterly regret” the sinking of an Iranian warship. US President Donald Trump said he wanted to be involved in choosing ​Iran’s next head of state after US and Israeli air strikes killed Supreme Leader Ali Khamenei in the early moments of the war.

“If the Middle Eastern conflict ​continues at its current intensity, it’s likely to bring sustained higher inflation, a stronger US dollar, and a vastly reduced chance of Fed ⁠rate cuts,” IG market analyst Tony Sycamore wrote in a note.

The dollar index , which measures the greenback against a basket of currencies, was trading a touch lower at 99.03, still on ​course for a 1.4 percent gain this week that would be the most since November 2024.

The euro was little changed at $1.161 and set for a 1.7 percent slide this week. The yen fell ​0.2 percent to 157.83 per dollar. Sterling nudged up 0.02 percent to $1.3358.

The war intensified on Thursday, with US and Israeli jets hitting areas across Iran, and Gulf cities coming under renewed bombardment.

In a phone interview with Reuters, Trump said Mojtaba Khamenei, a son of the late supreme leader who has been considered a favorite to succeed his father, was an unlikely choice.

The greenback was one of a handful of winners in a volatile ​few sessions that have dragged stocks, bonds and, at times, even safe-haven precious metals lower.

“Broadly speaking, we are seeing most clients reduce risk across both G10 and EM currencies,” said ​Nathan Swami, head of FX trading for Japan, Asia North, Asia South and Australia at Citi in Singapore.

“When the conflict started over the weekend, we saw hedgers and custodians buy dollars in many of the onshore ‌markets. Central bank ⁠support has kept Asian FX markets in check for now, but we think more depreciation pressure will build up the longer the conflict lasts.”

Bank of Japan Deputy Governor Ryozo Himino said in parliament that the weak yen was pushing up import costs and may affect underlying inflation.

If the Middle East conflict and closure of the Strait of Hormuz last only about a month, the impact on growth in developing Asia would be modest, said Albert Park, chief economist for the Asian Development Bank.

The spike in energy prices from the Middle East war has stoked fears of ​a resurgence in inflation, with overnight index swaps (OIS) ​showing shifts in rate outlooks for major ⁠central banks.

Flourish Garments Bangladesh Co Ltd, a China (Hong Kong)-based company, will invest $15.34 million to set up a high-end garment manufacturing factory at the Bepza Economic Zone (Bepza EZ) in Mirsharai, Chattogram.

The factory will annually produce four million pieces of garments, including fleece jackets, soft-shell jackets, down jackets, cotton coats, leather jackets, underwear, T-shirts, polo shirts, shorts and parkas.

The product range will also include long pants, ski suits, ski pants, windproof jackets, fishing suits, hiking suits, yoga suits, running suits, jeans, knitted shorts, faux leather clothing, deer-skin velvet clothing, golf clothing and casual skirts.

The investment will create job opportunities for 1,988 Bangladeshi nationals.

Md Tanvir Hossain, executive director (investment promotion) of the Bangladesh Export Processing Zones Authority (Bepza), and Han Junxiao, managing director of Flourish Garments Bangladesh Co Ltd, signed the agreement at the Bepza Complex in Dhaka yesterday, according to a press release.

Major General Mohammad Moazzem Hossain, executive chairman of Bepza, attended the programme. Speaking at the signing ceremony, Hossain assured the company of Bepza’s full support to ensure smooth and successful business operations in the zone.

He noted that Bepza continues to expand its facilities and develop new zones to accommodate growing investor interest and further strengthen Bangladesh’s export-oriented industrial base.

The Bepza executive chairman also urged the new investor to encourage and attract more high-quality and responsible investors to Bepza zones, contributing to sustainable industrial growth and export diversification in Bangladesh.

Abdullah Al Mamun, member (engineering); ANM Foyzul Haque, member (finance); Samir Biswas, executive director (administration), and ASM Anwar Parvez, executive director (public relations), along with senior officials of Bepza and representatives of the company, were also present.

US retail gasoline and diesel prices are soaring as the U.S.-Israel war with Iran constrains oil and fuel exports, which could be a political test for President Donald Trump's Republican Party ahead ​of midterm elections in November.

Fuel prices jumped more than 10 percent this week as oil rose above $90 a barrel, its highest in years, adding pain at the ‌pump for consumers already strained by inflation. Trump on Thursday shrugged off higher gasoline prices in an interview with Reuters, opens new tab, saying "if they rise, they rise."

The president had vowed to lower energy prices and unleash U.S. oil and gas drilling during his second term, but much of his tenure has been marked by volatility and uncertainty amid shifts in policies like tariffs and geopolitical turmoil. The US is the world's largest oil producer. It is a major exporter ​but also imports millions of barrels a day since it is the world's largest oil consumer.

As of Friday, the national average prices for regular gasoline stood at $3.32 a ​gallon, up 11 percent from a week ago and the highest since September 2024, according to data from the motorists association AAA. Diesel was at $4.33, ⁠up 15 percent from a week ago, surging to the highest since November 2023.

US motorists in parts of the Midwest and the South, including states that supported Trump, have ​seen some of the steepest increases in fuel costs since the conflict in Iran started.

In Georgia, a swing state, average retail gasoline prices rose 40.1 cents a gallon over the past week, ​according to fuel tracking site GasBuddy.

Andrenna McDaniel, a healthcare insurance worker in South Fulton, Georgia, said she was surprised to see prices skyrocket overnight.

“They jumped up so quickly," she said on Friday, adding that she does not agree with the war at all.

McDaniel, a Democrat, said that for now she is only driving for the most important things, and feels lucky that she works from home so she does not have to drive as ​much as other people do.

Georgia voted for Donald Trump in the 2024 election.

Trump voter Richard Soule, 69, a US Air Force veteran and a retired firefighter, said a little pain at the pump ​is worth Trump's efforts to protect America.

Gasoline prices are displayed at a gas station price display, in Carlsbad, California

Gasoline prices are displayed at a gas station price display, in Carlsbad, California, US, March 3, 2026. REUTERS/Mike Blake/File Photo Purchase Licensing Rights, opens new tab

"When President Trump went in there and bombed out their nuclear, and they just thumbed their nose at it, I believe he did the right thing at the right ‌time," Soule said ⁠on Friday as he filled up his Ford F-150 truck in Marietta, Georgia.

Other states, including Indiana and West Virginia have seen prices rise by 44.3 cents and 43.9 cents, respectively.

PRICES MAY RISE FURTHER

More pain may be on the way, analysts said, as oil prices continue to trend upward. On Friday, US oil futures settled at $90.90 a barrel, up nearly $10 and the biggest single-day rise since April 2020.

“Given current market conditions, the national average price of gasoline could climb toward $3.50 to $3.70 per gallon in the coming days if oil continues rising and supply disruptions persist,” GasBuddy analyst Patrick De ​Haan said.

The disruptions in the Middle East and ​the Strait of Hormuz, a key trade ⁠conduit, have boosted demand for US oil abroad, which in turn has driven up prices for domestic refiners too.

“The US has weaned itself off of its dependence on Middle Eastern crude, but obviously Asian refineries, and to a lesser extent, European refineries have not,” Denton Cinquegrana, chief oil ​analyst with OPIS.

“That’s what you’re seeing happen in the spot market, because the demand for US exports rise, and so the price rise."

Seasonal ​factors could add further ⁠pressure. Gasoline prices typically go up in the spring and peak in the summer due to higher gasoline demand and production of summer-blend gasoline, which is more costly to produce.

Diesel fuel saw an even more aggressive jump since Iran began retaliating against US and Israeli strikes, significantly disrupting shipping in the Strait of Hormuz.

Global diesel inventories have remained in tight supply due to heavy demand for heating and power generation ⁠during a ​prolonged winter in the US and other parts of the world and a structural tightness of refining capacity.

Sticker prices ​of everything from food to furniture go up when the cost of diesel goes up, as the fuel is mainly used in freight transportation, manufacturing, agriculture, and global shipping, analysts said.

“In a world where buzzword seems to be 'affordability', that is ​certainly not going to help," Cinquegrana said.

The benchmark index of the Dhaka Stock Exchange (DSE) suffered its steepest single-day fall in six years today (8 March) as escalating geopolitical tensions in the Middle East triggered panic selling across the market.

The DSEX index plunged 231 points, or 4.42%, to close at 5,008, hitting a two-month low and marking the biggest one-day decline since the Covid-19 pandemic era. The previous steepest fall was recorded on 9 March 2020, when the index dropped 279 points during global market turmoil caused by the pandemic.

The blue-chip DS30 index also came under heavy pressure, losing 91 points, or 4.55%, to settle at 1,919.

The sharp correction reflected widespread selling as investors rushed to cut losses amid growing uncertainty over global energy markets and the potential economic fallout for Bangladesh.

Market breadth was overwhelmingly negative. Of the traded issues, 371 declined, while only 10 advanced and nine remained unchanged, illustrating the scale of the sell-off.

Despite the slump in prices, trading activity increased as investors scrambled to exit positions. Turnover rose 16% to Tk532 crore during the session.

The panic-driven fall also wiped out a significant portion of market value. The overall market capitalisation of the Dhaka bourse declined by Tk13,400 crore to Tk6.84 lakh crore in a single trading day.

Major banking and blue-chip stocks exerted strong downward pressure on the index. Among the biggest draggers were BRAC Bank, Islami Bank, Square Pharmaceuticals, City Bank and BAT Bangladesh, which collectively accounted for a large share of the index's decline.

Negative sentiment also spilled over to the port city's bourse. At the Chittagong Stock Exchange PLC, the CSCX index fell 255 points, or 2.81%, to close at 8,805, while the CASPI index dropped 419 points, or 2.83%, to settle at 14,405. Turnover at the exchange plunged 60% to Tk16.37 crore, reflecting a sharp contraction in trading activity.

According to the daily market review by EBL Securities Limited, the capital market continued to witness a bloodbath, with no sign of relief for investors as pessimism surrounding the escalating Middle East conflict intensified.

The brokerage said relentless bearish sentiment gripped the market from the opening bell of the week's first trading session, prompting panic-stricken investors to dump holdings to minimise further losses in their already battered portfolios.

Selling pressure persisted throughout the session, leading to widespread price corrections across most sectors and leaving overall market sentiment deeply uncertain.

The latest fall extended the market's losing streak to four consecutive trading sessions. During this period, the benchmark index has shed a total of 526 points, while the market capitalisation of listed companies has declined by nearly Tk30,000 crore.

The downturn has been largely attributed to rising geopolitical risks following reported strikes involving the US and Israel against Iran, heightening fears of a broader conflict in the Middle East. Investors worry that any escalation could disrupt global energy supplies and significantly raise oil and gas prices.

Moniruzzaman, managing director of Prime Bank Securities, told TBS that the conflict has already pushed global oil and gas prices higher, raising concerns that Bangladesh's import bill could increase substantially.

He warned that disruptions to fuel imports could affect power generation and industrial production, particularly as the country approaches peak electricity demand during the summer months. A slowdown in industrial activity, combined with rising energy costs, could further intensify inflationary pressures.

Amid such uncertainty, investors opted for caution, triggering broad-based selling across nearly all sectors of the market. Moniruzzaman added that trading is likely to remain volatile in the coming sessions, depending on developments in the Middle East and movements in global energy markets.

Investor anxiety was further fuelled by recent domestic developments. On Sunday, the Bangladesh Energy Regulatory Commission increased the price of Jet A-1 aviation fuel for March, setting the rate for domestic flights at Tk112.41 per litre.

Market insiders said fears of a broader fuel price hike are spreading as global energy prices rise amid supply disruptions. Reports that energy exporters such as Qatar, Oman and Kuwait have declared force majeure on certain shipments have heightened concerns about Bangladesh's fuel imports.

They also noted that scenes of vehicles queuing at filling stations amid fears of potential shortages have further unsettled investors, contributing to panic in the stock market.

Analysts said the situation has been compounded by the lack of clear policy direction to stabilise the market. While several countries have introduced tax cuts on fuel or support measures for financial markets to cushion the shock, investors in Bangladesh are still waiting for concrete steps to restore confidence in the capital market.

Bangladesh’s stock market today recorded its steepest single-day decline in six years amid concerns over energy supply linked to the escalating conflict involving the United States, Israel and Iran in the Middle East.

The broad index, DSEX, of the Dhaka Stock Exchange (DSE) plunged 231 points, or 4.42 percent, to close the day at 5,008.

Of the traded stocks, the prices of 371 issues declined as investors rushed to sell, while only 10 advanced and the rest remained unchanged.

In March 2020, amid fears over the impact of the Covid-19 pandemic, investors witnessed three major declines within a span of 10 days.

The first had occurred on March 9, when the index dropped 6.5 percent. This was followed by another fall of 5.0 percent on March 16, and a further decline of 4.5 percent on March 18.

Dhaka stocks plunged amid investors’ jittery over energy security as US-Isarel war with Iran raises concerns of a prolonged hit to global energy markets.

The DSEX, the benchmark index of the Dhaka Stock Exchange, plunged 2.75 percent, or 144.17 points, to 5,096.65 as of 12:30 pm.

The market dipped just after opening at 10 am, and the benchmark index fell to as low as 5060 points at 12.01 pm. Later, it recovered.

Turnover at the DSE stood at Tk 335.43 crore. Among the traded shares, 25 gained, 344 dropped, and 16 remained unchanged.

“Energy is a key input for factories, and fears have grown among investors that the intensifying Iran war may affect fuel supply,” said a market analyst on anonymity.
Investors fear it could hamper production at listed firms, he added.
The Chittagong Stock Exchange also fell. The CASPI, the major index of the port city bourse, fell 347 points, or 2.37 percent, to 14,447.

Country’s overall economic activity gained momentum in February, with the Purchasing Managers’ Index (PMI) rising to 55.7, indicating a faster pace of expansion compared with the previous month.

The Bangladesh PMI February report, released on Sunday by the Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka and Policy Exchange Bangladesh (PEB), showed the index increased by 1.8 points from January.Bangladesh economic trends

The PMI is designed to provide timely insights into the country’s economic conditions to help businesses, investors and policymakers make informed decisions. The index was developed by MCCI and Policy Exchange Bangladesh with support from the UK Government and technical assistance from the Singapore Institute of Purchasing & Materials Management.

According to the report, stronger growth in agriculture, manufacturing and services drove the overall expansion, while the construction sector returned to contraction during the month.

The agriculture sector recorded its sixth consecutive month of expansion, with faster growth in new business and business activity. Input costs and order backlogs also returned to expansion, though employment in the sector continued to contract at a faster pace.

Manufacturing maintained expansion for the 18th straight month, with growth accelerating in February. Key indicators including new orders, factory output, imports, input prices and supplier deliveries remained in expansion. However, new exports, finished goods and employment continued to contract, while order backlogs reverted to contraction.

The construction sector slipped back into contraction after expanding in January. New business, employment and order backlogs declined, although construction activity and input costs showed expansion.Maps

Meanwhile, the services sector registered its 17th consecutive month of expansion, with faster growth across new business, business activity, employment, input costs and order backlogs.

The future business index pointed to continued expansion across all major sectors—agriculture, manufacturing, construction and services—indicating positive business expectations in the coming months.

Businesses surveyed in the report noted a degree of seasonal optimism ahead of Ramadan and Eid-ul-Fitr, which is expected to boost demand, particularly in services and retail. However, firms also highlighted persistent pressure from rising input costs, including raw materials, labour and utilities.

Dr M Masrur Reaz, Chairman and CEO of Policy Exchange Bangladesh, said the February PMI suggests a modest increase in economic activity, supported by stronger demand in agriculture and services linked to Ramadan-related consumption.

He also warned that escalating military tensions in the Middle East could pose downside risks to Bangladesh’s growth outlook.

Despite the seasonal boost in demand, the report noted that broader growth prospects remain constrained by persistent inflationary pressure, sector-specific challenges and external economic risks.

Olympic Industries PLC has approved the purchase and import of new capital machinery to expand its packaging and food processing capacity.

The decision was taken at a board meeting held on Saturday, according to a disclosure filed on the Dhaka Stock Exchange yesterday.

Under the plan, the company will import two sets of brand-new capital machinery to establish a carton production plant. The equipment will have a combined annual production capacity of 315.36 million pieces, with each set capable of producing 157.68 million pieces per year.

The machinery will be procured from China at a total cost of $500,000, including freight charges, which is equivalent to around Tk6.13 crore. The machines will be installed and commissioned at the company's Kutubpur factory in Narayanganj.

In a separate move, the board also approved the purchase of a brand-new egg washing and breaking machine for its food processing operations. The machine, which will have an annual capacity of 175.20 million pieces, will be imported from Hong Kong.

The cost of the machinery, including freight, is estimated at $46,000, equivalent to approximately Tk56.44 lakh. It will be installed and commissioned at the company's Lolati factory in Kanchpur.

The investment is expected to strengthen Olympic's packaging capability while enhancing efficiency in its food production process, said the company in its disclosure.

Olympic Industries, one of the leading fast-moving consumer goods companies, is producing a wide range of biscuits, confectionery and bakery products for both domestic and export markets.

The company has maintained steady financial growth in recent periods. For the July-December period of 2025, Olympic reported revenue of Tk1,548 crore, up from Tk1,490 crore in the same period a year earlier.

During the period, earnings per share rose slightly to Tk5.99 from Tk5.82 a year earlier. The company's net asset value per share stood at Tk65.34 as of December 2025.

Bangladesh's import of liquefied natural gas (LNG) from long-term contracts has become highly uncertain after all three suppliers invoked force majeure, a legal tool that allows them to suspend or delay contractual obligations in events beyond their control, amid the ongoing US-Israel war on Iran.

According to Petrobangla officials, the latest force majeure notice came from Oman-based OQ Trading Limited on 5 March, followed by the US-based Excelerate Energy the next day.

Earlier on 2 March, Bangladesh's largest LNG supplier QatarEnergy invoked the same.

Confirming the development, Petrobangla Chairman Md Arfanul Hoque on Saturday told TBS, "We are now looking for alternatives from the spot market to fill the window left vacant by the three suppliers."

With the three suppliers invoking force majeure, Bangladesh is set to lose all six LNG cargoes scheduled under long-term contracts for April, along with two additional deliveries from short-term arrangements.

Officials said the development could potentially block the supply of at least eight LNG cargoes from both long- and short-term contracts, leaving Bangladesh heavily dependent on the volatile spot market.

According to the import plan, three additional cargoes were supposed to be procured from the spot market in April too which means Bangladesh has a plan to procure 11 LNG cargoes in April.

All three suppliers interlinked

Petrobangla officials said once QatarEnergy – which is scheduled to supply around 40 LNG cargoes to Bangladesh in 2026 – invoked force majeure, similar moves by the other suppliers became almost inevitable as QatarEnergy accounts for around 20% of the world's seaborne LNG.

Officials added that supply arrangements from the other suppliers, OQ Trading (OQT) and Excelerate, are closely linked to deliveries tied to QatarEnergy under existing agreements.

While there is a provision to source LNG from alternative suppliers outside QatarEnergy if OQT and Excelerate can manage, the enforcement of force majeure effectively blocks this option.

Petrobangla said the force majeure imposed by OQ Trading will remain in effect until 8 April.

Petrobangla Chairman Arfanul said, "With the imposition of force majeure by OQ, Petrobangla will lose two cargoes scheduled for delivery on 3 and 8 April."

What was the April import plan

According to Petrobangla's earlier LNG import plan, 11 cargoes were scheduled to arrive in April. Of these, six were to come under long-term contracts, two under short-term, and three from the spot market.

Of the six long-term cargoes, three were to be supplied by QatarEnergy, one by QatarEnergy Trading, one by OQT, and one by Excelerate. Of these six cargoes, five were expected to pass through the Strait of Hormuz, while one was to come from Angola.

Energy officials said that out of the six deliveries planned for April, four cargoes have already been confirmed cancelled following the invocation of force majeure by the suppliers.

Talking to TBS yesterday, Energy Secretary Md Saiful Islam said the government is now stepping up efforts to import LNG from the spot market to maintain supply. "Bangladesh is also considering purchasing LNG through G2G arrangements under direct procurement."

Short-term supply also under threat

According to Petrobangla's plan for April, Bangladesh intended to import two cargoes under short-term contracts – one from OQ Trading and another from Saudi Aramco.

Officials said one of the cargoes originates from Qatar and normally transits through the Strait of Hormuz, while the origin and route of the other cargo have yet to be confirmed. As OQ Trading has invoked force majeure, supply from the company has become uncertain.

Besides, Bangladesh had planned to procure three cargoes from the spot market in April.

Volatile spot market now only hope

With the Strait of Hormuz effectively closed and production disruptions reported at facilities operated by QatarEnergy, LNG supplies under long-term contracts have become uncertain.

To mitigate the disruption, the energy secretary said the government has already invited tenders to purchase LNG cargoes from the spot market for April delivery.

"We floated a tender on 8 March for four cargoes from the spot market. Bidders have been given two days until Tuesday to respond," said Secretary Saiful. "Apart from the spot market, we are also opening a window to purchase LNG on a G2G basis."

Officials from the Energy Division and Petrobangla warned that LNG availability in the spot market is tightening as major buyers such as China, Japan, South Korea, and India scramble for additional cargoes, pushing prices higher.

They said the situation could leave price-sensitive importers like Bangladesh, already under fiscal strain, particularly vulnerable to the ongoing volatility.

Earlier, Petrobangla floated a tender to buy two LNG cargoes for the March delivery window from the spot market, but the first attempt drew no bids.

In the second attempt, the agency secured one cargo at over $28 per MMBtu and another at around $24 per MMBtu, nearly 2.5 times higher than prices below $10 per MMBtu on 1 March.

According to the Asian spot LNG benchmark Platts JKM, prices stood at $10.73 per MMBtu on 27 February but surged to around $15.7 per MMBtu in the latest trading sessions.

Meanwhile, Energy Minister Iqbal Hassan Mahmood Tuku yesterday said fuel reserves in Bangladesh have increased with the arrival of two fuel-laden ships, reports UNB.

"Once these two ships deliver fuel, our reserves will increase further," he said at a discussion programme. The minister said rising reserves do not mean fuel can be used in an uncontrolled manner. "We will continue rationing for as long as the war continues."

Prices of several food items in Khatunganj – one of the country's largest wholesale markets for essential commodities – have risen although stocks remain sufficient, and despite the fact those items had been imported before the Iran war began.

It takes around 45 days for soybean shipments from Latin America to reach Chattogram port. Yet following news of war in the Middle East on 1 March, the price of soybean oil in Khatunganj rose by up to Tk150 per maund.

This is despite the fact that 463,000 tonnes of crude soybean oil were imported during the first eight months of the current fiscal year. Although there are sufficient stocks, soybean oil has reportedly become scarce in retail markets in Dhaka and Chattogram a week after the war began, as unscrupulous traders allegedly manipulated the supply.

The price surge is not limited to soybean oil. Palm oil prices in Khatunganj have increased by up to Tk200 per maund, even though palm oil is imported from Malaysia and has no direct connection to the Middle East conflict. According to customs data, 1.038 million tonnes of palm oil were imported during the first eight months of the fiscal year.

Market insiders say there is no justification for prices to rise for goods that are already in stock due to the war. Even if prices were to increase, the impact would likely be felt only after two to three months. Experts blame the administration's inaction and unethical traders for the current volatility.

Dr Naeem Uddin Hasan Aurangzeb, a professor of economics at the University of Chittagong, told The Business Standard that the government has not yet increased fuel prices.

"If fuel prices increase, that may affect other commodities. But the conditions for the war to influence commodity prices have not yet arisen, and even if it does, it will take some time. In reality, dishonest traders are raising prices," he said.

Traders say prices in Khatunganj generally move in line with international markets – rising when global prices rise and falling when they fall. Although soybean prices fluctuate, mill owners sometimes reduce sales during uncertain periods such as wartime despite adequate stocks. They also note that the cost of imports depends heavily on international market prices.

According to traders, the war must end soon, otherwise it may affect the country's economy and foreign exchange reserves.

Market inquiries show that until the afternoon of 1 February, open refined palm oil was selling at Tk5,900 per maund. After news of an attack on Iran spread, the price rose to Tk6,000 in the evening. Although it fell slightly the following day, it later increased again by Tk200 and is now trading at around Tk6,200.

Similarly, wheat prices have risen to Tk1,300 per maund, around Tk150 higher than before. The price of open soybean oil has increased by Tk120 to Tk150 per maund and is now selling between Tk7,180 and Tk8,200. Sugar prices have also risen by Tk70 to Tk80 per maund to Tk3,470–Tk3,480.

Super oil prices have increased by Tk200 to Tk6,400. Drum bitumen is now selling for Tk15,000 compared to Tk12,000 previously. Raisins are selling at Tk780–Tk800 per kg, with prices rising by Tk100–Tk120 depending on quality. The biggest increase has been seen in the price of dried sour plums (tok alu), which have jumped from Tk300–Tk400 to Tk800–Tk1,000.

Prices of imported pulses and dry food products have also been trending upward, although they had begun to decline slightly in the wholesale market after the start of Ramadan.

Cumin is trading at Tk570–Tk580 per kg, cardamom at Tk4,200–Tk4,500, cinnamon at Tk355–Tk450, cloves at Tk1,300–Tk1,320 and black pepper at Tk1,020–Tk1,040. Nutmeg is selling at Tk720, mace at Tk2,700–Tk2,800, ginger at Tk100–Tk110 and onions at Tk25–Tk52 depending on quality. Chinese garlic is selling at Tk200 per kg while local garlic is priced at around Tk50.

Md Mohiuddin, general secretary of the Chaktai-Khatunganj Aratdar General Traders Welfare Association and an importer of consumer goods, told TBS that prices of a few items have increased but most commodities remain at normal levels.

"If the war in the Middle East becomes prolonged, it could affect the supply chain of consumer goods, creating a risk of price increases for all products," he said.

Consumer rights activists say some traders are using the war as an excuse to create instability in the market.

SM Nazrul Hossain, vice-president of the central committee of the Consumers Association of Bangladesh (CAB), told TBS that traders often look for an issue to raise prices.

"The war has provided them with such an excuse. There is no reason for such an immediate impact here because of the war. Only if there is a fuel shortage and transportation costs rise might there be an effect—but that is not the case now," he said.

He added that the administration has not taken any action on the issue.

"Even though there is a new government, no instructions have yet been issued from the ministries to the administration. The government must take a tougher stance," he said.