Oil rose on Tuesday as the world’s ‌biggest supply disruption persisted and as Iran denied it had talks with the US to end the war in the Gulf, contradicting US President Donald Trump who said a deal could be reached soon.

Crude futures ​had dropped more than 10 percent on Monday, after Trump ordered a five-day ​delay to attacks on Iran’s power plants, saying the US had talks with unnamed Iranian officials that produced “major points of agreement”.

Brent futures rose $1.83, or 1.8 percent, to $101.77 ​a barrel at 1130 GMT. US West Texas Intermediate (WTI) climbed $2.21, or 2.5 percent, to $90.34.

The war ​has all but halted shipments of about one-fifth of the world’s oil and liquefied natural gas through the Strait of Hormuz, causing what the International Energy Agency has called the biggest-ever oil supply disruption.

“The reality ​on the ground is unchanged,” said Nikos Tzabouras, analyst at Jefferies-owned Tradu.com. “The Strait of ​Hormuz remains effectively closed and supply disruptions linger, tightening the market.”

Iran on Tuesday sent waves of missiles ‌into Israel. Three senior Israeli officials, speaking on condition of anonymity, said Trump appeared determined to reach a deal, but that they thought it highly unlikely that Iran would agree to US demands in any new round of negotiations.

“The Iran conflict sees tentative de-escalation, but unresolved ​risks remain around Hormuz,” ​BCA Research said in a report. “Given continued attack risks and headline volatility, it remains too early to position aggressively for lower oil prices.”

If the strait ​remains effectively shut until the end of April, Brent could still ​reach $150 a ⁠barrel, Macquarie said. That would exceed the all-time high of $147 set in 2008.

In the latest attacks on energy infrastructure across the region, a gas company office and a pressure-reduction station ⁠were ​hit in the Iranian city of Isfahan, while a ​projectile struck a gas pipeline feeding a power station in Khorramshahr, Iran’s Fars news agency reported.

Dhaka is set to host one of South Asia’s largest pharmaceutical manufacturing exhibitions as the 17th Asia Pharma Expo 2026 and Asia Lab Expo 2026 open at the Bangladesh-China Friendship Exhibition Centre in Purbachal from March 29 to 31.

Organised by the Bangladesh Association of Pharmaceutical Industries (BAPI), the three-day event continues a 23-year legacy of promoting innovation, collaboration, and industrial advancement in the country’s fast-growing pharmaceutical sector, according to a press release.

More than 400 companies from over 20 countries are expected to participate, showcasing technologies in pharmaceutical processing and packaging, active pharmaceutical ingredients (APIs) and excipients, laboratory and analytical instruments, cleanroom and HVAC systems, water management, and turnkey project solutions.

Following the inauguration, the exhibition will remain open to trade visitors throughout the three days, offering opportunities for sourcing, networking, technology assessment, and business expansion.

The organisers expect this year’s edition to build on the momentum of the 2025 expo, which drew around 14,500 trade visitors.

The upcoming event aims to deepen international engagement and facilitate technology transfer within Bangladesh’s expanding pharmaceutical manufacturing ecosystem.

Since its launch in 2003, Asia Pharma Expo and Asia Lab Expo have positioned themselves as dedicated platforms covering the full pharmaceutical manufacturing supply chain.

The exhibitions bring together entrepreneurs, researchers, and corporate decision-makers to explore advancements in machinery, raw materials, packaging, and laboratory technologies.

Bangladesh’s pharmaceutical industry has emerged as a key contributor to the national economy, meeting about 98 percent of domestic demand and exporting medicines to 157 countries, including the United States, the United Kingdom, Germany, and Canada.

Valued at more than $3.5 billion, the sector is projected to exceed $6 billion by 2026, with an annual growth rate of 15 to 18 percent.

Remittance inflow witnessed a year-on-year growth of 7.4%, reaching $2,828 million in the first 23 days of March, according to the latest data from Bangladesh Bank issued today (24 March).

Last year, during the same period, the country's remittance inflow was $2,633 million.

During the period from July to 23 March of the current fiscal year, expatriates sent remittances of $25,281 million, which was $21,123 million during the same period of the previous fiscal year, it added.

Finance and Planning Minister Amir Khasru Mahmud Chowdhury today (22 March) said the ongoing conflict in the Middle East is creating pressure on Bangladesh's economy, urging people to remain patient and cooperative during the challenging period.

"Global instability has pushed up pressure on the fuel market, which is directly affecting import-dependent Bangladesh. We cannot control the impact of the conflict, but the government is making every effort to tackle its effects," he told journalists at his residence in Chattogram's Mehedibag.

The minister noted that finding alternative sources of fuel and maintaining regular supply remain the government's primary challenges. "Managing the situation will be difficult without public cooperation."

He claimed, "Despite the pressure, the government has been able to maintain fuel supply. There was no fuel shortage anywhere during the Eid travel period, and the transport system is functioning normally."

Khasru also said the early payment of wages and allowances to ready-made garment (RMG) workers ahead of Ramadan and Eid helped avoid major labour unrest, calling it a positive sign for the economy.

Referring to ongoing social safety-net programmes, the minister said family cards for low-income people, farmers' cards, loan waivers and allowances for religious figures are continuing.

He urged the public to stay united with patience, restraint and mutual support to deal with the impact of the global crisis.

Agrani Insurance Company has recommended no dividend for shareholders for the year ended 31 December 2025, following a sharp drop in earnings compared with the previous year. In 2024, the company paid shareholders a 6% cash and 6% stock dividend.

Announcing the annual disclosure today (16 March), the company's share closed at Tk21.20 on the Dhaka Stock Exchange. According to a price-sensitive statement, consolidated earnings per share (EPS) fell to Tk0.18 in 2025 from Tk1.45 in 2024, a decline that appears to have influenced the board's decision to withhold dividends.

Despite lower earnings, cash flow performance improved. Consolidated net operating cash flow per share rose to Tk0.96 in 2025 from Tk0.58 in 2024, indicating stronger cash generation from core operations. However, the company's net asset value per share dipped slightly to Tk19.42 from Tk20.10 at year-end 2024.

Agrani Insurance will hold its annual general meeting (AGM) on 14 May 2026, virtually. The record date for shareholder eligibility is 15 April 2026.

Previously, in September 2024, the company withdrew its rights share application submitted in March 2024 due to unavoidable circumstances. In June 2021, the BSEC rejected an earlier rights share offer for failing to submit a Credit Information Bureau report.

With a view to ensuring sustainable business and reducing carbon emissions, Paramount Textile, a company listed on the stock exchanges, has decided to install a 9.81MW rooftop solar power plant at its factory in Gazipur.

In this regard, Paramount Textile PLC will enter into a power purchase agreement (PPA) with Paramount Solar Limited, according to a disclosure published on the stock exchanges yesterday.

Paramount Solar is a firm in which 99.99% of the total paid-up capital is held by Paramount Textile.

Under the agreement, Paramount Solar will design, build, operate and manage the rooftop solar project under the OPEX model at a fixed tariff of Tk8.20 per kilowatt-hour, excluding VAT and AIT. The facility will be installed at the company's factory premises in Sreepur, Gazipur.

The solar power generator will supply electricity generated from the project for 20 years from the date the photovoltaic system is commissioned and becomes operational.

The company said its board of directors discussed and approved the decision at a meeting held on Sunday for signing the PPA between Paramount Textile and Paramount Solar.

At the beginning of the agenda, the textile company's Managing Director Shakhawat Hossain informed the board that the management had decided to install the rooftop solar facility at the factory premises to ensure sustainable business operations and reduce carbon emissions.

Paramount Textile reported that its consolidated profit fell 19% year-on-year in the second quarter of the current fiscal year due to a decline in revenue.

During the October-December period, the company posted a consolidated profit of Tk20.77 crore, with earnings per share (EPS) of Tk1.16.

In the same period of the previous fiscal year, the company reported a profit of Tk25.79 crore and EPS of Tk1.44, according to its financial statements.

For the first half of the 2025-26 financial year, profit declined 4.23% year-on-year to Tk42.27 crore, while EPS stood at Tk2.36. In the first half of FY25, the company reported a profit of Tk44.06 crore and EPS of Tk2.46.

In January this year, the company said Paramount Textile PLC and Paramount Holdings Limited, both part of the Paramount Group, planned to invest $268 million – around Tk3,275 crore – in four solar power plants with a combined capacity of 295 megawatts through a joint venture.

The Bangladesh Power Development Board awarded the Notification of Award (NOA) to the joint venture on 29 December last year for the development of the projects under the Public Procurement Rules, 2008.

In just two months, shares of Bangladesh Industrial Finance Company (BIFC), a non-bank financial institution (NBFI), skyrocketed by over 600%, according to data from the Dhaka Stock Exchange.

Starting from Tk0.9 on 14 January, its share price rose to Tk6.6 on 17 March – the last trading day before the Eid vacation – marking a surge of 633%.

Following the recent surge, BIFC's share price has returned to the level seen nine months ago. Earlier, in mid-last year, the stock was traded in the Tk6-7 range, the data showed.

With a view to reviving the weak and scam-hit NBFIs, the Bangladesh Bank has planned to liquidate nine NBFIs to protect the depositors' interest.

With the initial discussion begun in mid-2025, the weak NBFIs stocks saw continuous sell-offs amid growing investor fears.

That is why the price of BIFC's shares saw a sharp fall amid heavy sell-offs, putting its shares below Tk1 each, the first time in the history of the capital market.

It eventually fell to as low as Tk0.9. Later, after the central bank decided to allow the institution three months to improve its financial condition, the price began to rise.

The stock then recorded gains for nearly 22 consecutive trading days, climbing from Tk0.9 to Tk3.9 each.

After a one-day correction, the share price resumed its upward trend. In the second phase of the rally, it rose to Tk7.2.

Subsequently, the stock corrected again, dropping to Tk5.9. It then rebounded to Tk7.2 before closing at Tk6.6 on 17 March.

Auditor opinion

The auditor of BIFC said it has been experiencing losses for several years, accumulating a total loss of Tk1,425.45 crore as of December 2024.

As of the same date, its total liabilities exceeded its total assets by Tk1,269.68 crore.

These conditions or events indicate that a material uncertainty exists on the company's ability to continue its operation in the foreseeable future unless arrangements are made to increase capital or to improve liquidity position by means of facilitating equity support/long-term loan, the auditor said.

The auditor also said it should maintain a cash reserve ratio at a rate of 1.5% on term or fixed deposits (except from banks and financial institutions), but it could not maintain such provision, noncomplying with the above regulation.

The government has decided to increase fuel imports by 25% in the course of the current year to tackle potential supply disruptions caused by the ongoing conflict in the Middle East, Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood said today (23 March).

"Despite global concerns over fuel supply, there is no immediate crisis in Bangladesh. As a precautionary measure, the government has decided to raise fuel imports by 25%," Iqbal told reporters at his residence in Dhaka in the afternoon.

The minister said vessels carrying sufficient fuel supplies are arriving at ports, and the government is maintaining strict vigilance to ensure uninterrupted distribution across the country.

Highlighting the government's subsidy efforts, the minister said fuel is being purchased at higher prices from the spot market but sold to consumers at lower rates.

"The duration of the conflict remains uncertain, the government will continue providing subsidies for as long as possible, considering people's purchasing capacity," he added.

Referring to disruptions in global supply routes, Iqbal noted that oil shipments through the Strait of Hormuz are facing challenges. "Ships are unable to move normally through the Strait of Hormuz and require special permissions, which is causing some disruptions to regular supply."

On fuel reserves, the minister said stock levels are being managed based on demand, and uninterrupted supply has so far prevented any major crisis.

Urging the public to remain calm, he called on consumers to avoid panic buying. "Please refrain from panic buying. Purchase only what you need. Panic buying is increasing pressure on depots and fuel stations."

Meanwhile, visits to several fuel pumps in the capital found vehicles waiting in long queues for fuel, while some stations were temporarily shut after running out of stock due to increased demand: further fuelling public anxiety.

The dollar rose today (23 March) as escalating retaliatory threats in the Middle East conflict curbed risk appetite and lifted demand for safe-haven assets.

The Australian dollar, ​a liquid proxy for global sentiment, slid as equities sold off across Asia. Japan's top currency diplomat said his government is ready ‌to take action to counter foreign-exchange volatility as the yen edged lower.

Hopes for an off-ramp to hostilities dimmed over the weekend, with US President Donald Trump threatening to strike Iran's electricity grid and Tehran vowing to hit back at infrastructure of its neighbours. The head of the International Energy Agency (IEA) said the crisis is worse than the two oil shocks of the ​1970s put together.

"The market's going with the idea that those countries and economies that enjoy a positive supply shock from energy are likely to ​perform better than those that are suffering from a negative supply shock," Rodrigo Catril, a currency strategist at National ⁠Australia Bank, said on a podcast.

"So you're seeing the euro and the yen struggling to perform. And again, if this conflict proves long-lasting, you would think ​that those are the currencies that are likely to suffer a bit more."

The dollar index , which measures the US currency against a basket of peers, rose 0.29% ​to 99.83. The gauge on Friday closed out its first weekly decline since the start of the war, as the inflationary effects of surging oil prices prompted central banks to turn hawkish.

The euro sank 0.38% to $1.1526, as the yen weakened 0.22% to 159.55 per dollar. Sterling weakened 0.37% to $1.329.

The conflict broadened today, with Israel announcing wide-scale strikes on Tehran, ​while Saudi Arabia said two ballistic missiles had been launched at Riyadh.

Trump issued his latest threat to Iran on Saturday, less than a day after ​signaling the US might be considering winding down the conflict. Iran pledged retaliatory strikes on infrastructure in nearby countries and that the Strait of Hormuz shipping lane for oil would remain ‌closed.

The prospect ⁠of tit-for-tat strikes on civilian infrastructure in the region threatens the livelihoods of millions of people who rely on desalination plants for water.

With the yen weakening back toward the key 160 per dollar level, Japan's top currency diplomat Atsushi Mimura signaled caution about speculative activity in oil markets spilling over into foreign exchange.

Speaking in Sydney, IEA Executive Director Fatih Birol warned that the current crisis poses a major threat to the global economy, surpassing the Middle East energy shocks of ​the 1970s.

Major equity indexes across Asia tumbled, ​with Japan's Nikkei down as much ⁠as 5% at one point. Inflation concerns hit global debt markets, with Japanese government bonds falling sharply, and the 10-year U.S. Treasury yield rising to a near eight-month high of 4.415%.

Before the U.S.-Israeli war on Iran began in late ​February, investors had priced in two cuts by the Federal Reserve this year. But even one cut is now ​considered a distant ⁠prospect, and other major central banks are turning more hawkish.

"If markets price a U.S. tightening cycle, the USD will lift strongly against all currencies in our view," Joseph Capurso, head of international economics at the Commonwealth Bank of Australia, wrote in a note. "AUD would fall against most, if not all, major currencies if global downgrades occur."

The ⁠European Central ​Bank kept rates on hold on Thursday, but warned of inflation driven by energy prices. The ​Bank of England also kept rates steady, while the Bank of Japan left the door open to a hike as soon as April.

The Australian dollar sank 0.95% versus the greenback to $0.6956, while New ​Zealand's kiwi weakened 0.7% versus the greenback to $0.5793.

In cryptocurrencies, bitcoin jumped 0.76% to $68,704.51, while ether rose 0.16% to $2,061.87.

Bangladesh's state-run Petrobangla has sought an additional US$350-million loan guarantee from the World Bank to augment LNG imports amid escalating Middle East tensions and soaring global fuel prices.Loan guarantee services

"We have requested the Economic Relations Division (ERD) to expedite the funding to facilitate the buying of liquefied natural gas (LNG) from global suppliers," Petrobangla's director of finance, AKM Mizanur Rahman, told the Financial Express on Tuesday.

"Initially our plan was to seek an additional $250 million but later decided to seek more to meet the growing need," he said.

The fresh fund request would add up to an existing $350-million guarantee facility, totaling fund support from World Bank's concessional lending arm -- International Development Association (IDA) -- to $700 million for the country's energy-security programme, he said.

The government's move is a part of a strategic shift to ensure the country's energy-supply chain strong amid volatile global energy market against the backdrop of dwindling domestic natural gas output, Rahman said.

Bangladesh already purchased five LNG cargoes from spot market at very high prices.

Bangladesh's payment against the import of LNG has become easier from early 2026 with the World Bank's loan guarantee worth $350 million, which was approved last year, to facilitate its import.World Bank reports

The World Bank's Board of Executive Directors approved late June last year the 'Energy Sector Security Enhancement Project,' worth $350 million to help Bangladesh import LNG to improve the country's overall gas supply, he said.

The project aims to improve Bangladesh's gas- supply security by facilitating access to affordable financing for LNG import. It will use an IDA guarantee to mobilise up to $2.1 billion in private capital over the next seven years to support LNG imports, according to Rahman.

Petrobangla has selected eight local and foreign commercial banks to facilitate the import of LNG, backed by the repayment guarantee from the World Bank, to provide financial support for LNG imports, he said.

The selected banks have formed a consortium to provide Petrobangla with a stand-by letter of credit (SBLC) worth $200 million, valid for up to 12 months, in favor of long-term LNG suppliers under existing sales and purchase agreements (SPAs), he said.

They are offering an additional SBLC worth US$50 million, valid for up to 90 days, for spot LNG suppliers under master sales and purchase agreements (MSPAs).

In addition, the banks provide a US$100-million credit line in the form of short-term loans with up to a 12-month tenure to help Petrobangla meet payment obligations for specific LNG cargoes under the SPAs and MSPAs, Mr Rahman said.Banking services comparison

The IDA, the World Bank's soft-lending arm, will guarantee Petrobangla's repayment obligations to the banks for loans and SBLC draws, covering up to $350 million in principal and accrued interest.

However, the guarantee will not cover penalties, default interest, or similar charges, Rahman added.

The IDA guarantee is expected to enhance Petrobangla's credit profile, enabling it to secure LNG supplies more effectively amid mounting foreign-currency constraints, said the Petrobangla official.

The World Bank has noted that LNG now accounts for over a quarter of Bangladesh's total gas consumption, with imports costing around $4.5 billion annually.

Approximately 42 per cent of the country's gas is consumed by the power sector, making LNG- supply disruptions a major risk to electricity generation and overall economic activity, it said.

Since LNG imports began in 2018, Bangladesh has imported around 35.59 million tonnes of LNG through 571 cargoes as of January 2026, according to official data from Rupantarita Prakritik Gas Company Ltd (RPGCL).

With domestic gas reserves rapidly depleting, Bangladesh is expected to need 30 million mt of LNG per year by 2041 to meet surging demand, according to official data of Petrobangla.Bangladesh economic news

The corporation projects that by 2041, daily gas demand could reach 8 Bcf/d, significantly higher than the current supply of around 2.45 Bcf/d as of March 17, 2026.

Bangladesh Bank (BB) has instructed banks, mobile financial service providers, payment service providers and payment system operators to establish a dedicated “Cashless Bangladesh Unit” at their head offices by March 31 to accelerate digital transactions nationwide.

The central bank issued a circular in this regard on Monday, aiming to reduce dependence on cash and expand digital payment services to customers at the grassroots level under the broader Cashless Bangladesh initiative.

As per the directive, each bank must establish a full-fledged unit supervised by a deputy managing director or an equivalent official linked to payment system operations.

For mobile financial service providers, payment service providers and payment system operators, the unit will be supervised by an official directly below the managing director.

Each bank must establish a full-fledged unit supervised by a deputy managing director or an equivalent official linked to payment system operations
Banks must assign at least four officials to the unit, while MFS, PSP and PSO operators must appoint at least two officials.

The central bank said Bangla QR and Bangladesh’s digital payment ecosystem have expanded significantly in recent years through interoperable digital payment infrastructure, mobile financial services, internet banking, point-of-sale terminals and online payments.

According to the circular, the unit will prepare and implement institution-specific roadmaps for expanding digital payments, accelerate merchant onboarding through Bangla QR channels, and regularly monitor customer registration in institution-owned mobile applications.

The unit will also oversee staff training, awareness campaigns, seminars, customer protection measures, complaint resolution and risk mitigation related to digital transactions.

In addition, institutions have been asked to submit annual implementation reports to their boards and send copies to BB by the last working day of March each year.

The US Treasury on Friday temporarily lifted sanctions on Iranian oil already loaded onto vessels, in Washington's latest step to stem a supply crisis over the Middle East war.

The authorization allows for the delivery and sale of Iranian crude oil and other petroleum products loaded onto ships before March 20, and will last through April 19, the Treasury said in a statement.

The move by the Office of Foreign Assets Control, which Treasury Secretary Scott Bessent had said Thursday was under consideration, follows a similar lifting of sanctions on Russian oil at sea.

Iran's de facto blockade of the Strait of Hormuz, through which 20 percent of the world's oil and gas normally flows, and the numerous attacks on energy infrastructure in the Middle East, have sent crude oil prices soaring.

Bessent described the move in a statement Friday as a narrowly tailored, short-term authorization that follows President Donald Trump's intention to "maximize the flow of energy to the world" and ensure market stability.

"At present, sanctioned Iranian oil is being hoarded by China on the cheap," Bessent said in a statement.

"By temporarily unlocking this existing supply for the world, the United States will quickly bring approximately 140 million barrels of oil to global markets, expanding the amount of worldwide energy and helping to relieve the temporary pressures on supply caused by Iran."

Tehran, however, said Friday it had no surplus crude oil to offer to international markets.

"Currently, Iran basically has no surplus crude oil left on the water or for supply in other international markets, and the US treasury secretary's statement is solely aimed at giving hope to buyers," Iranian oil ministry spokesman Saman Ghoddoosi wrote on X.

The Treasury's authorization on Friday does not apply to deliveries of oil to Cuba, North Korea or Russian-occupied areas of Ukraine.

Oil markets ended higher Friday, although they remained below the $120-per-barrel threshold which has been approached multiple times since the conflict began three weeks ago.

A barrel of North Sea Brent crude gained 3.26 percent to $112.19. Its US counterpart, the traditionally cheaper West Texas Intermediate (WTI), rose 2.27 percent to $98.32.

Oil prices fell by 7% today (23 March) after US President Donald Trump said he would postpone any military strikes against Iranian power plants for five days after constructive talks, hours ahead of a deadline that threatened further escalation in the conflict now in its fourth week.

Brent crude futures were down 9.72% at $101.28 a barrel at 1254 GMT after sliding as much as 14.5% to a session low of $96. US West Texas Intermediate was down almost 8.9% at $89.49 after losing 14.2% to a session low of $84.37.

Prices gradually pared some losses after the steep initial slide after Iran's Tasnim ⁠news agency reported that no talks were under way between the US and Iran.

The US President had warned on Saturday that Iranian power plants would be destroyed if Tehran failed to "fully open" the Strait of Hormuz to all shipping within 48 hours, setting a deadline of around 7:44 p.m. EDT (2344 GMT) on Monday.

His comments sparked threats of retaliation from Iran's Revolutionary Guards, which said they would attack Israel's power plants and those supplying US bases across the Gulf region if Trump followed through with his threat to "obliterate" Iran's power network.

The war has damaged major energy facilities in the Gulf and nearly halted shipping through the Strait of Hormuz, which handles about 20% of global oil and liquefied natural gas flows.

Analysts have estimated a loss of 7 million to 10 million barrels per day of Middle East oil production.

The crisis in the Middle East is worse than ‌the two ⁠oil shocks of the 1970s put together, Fatih Birol, executive director of the International Energy Agency, said on Monday.

"Oil sentiment may lurch on threats and rhetoric in the near term, but its more durable direction will continue to be shaped by the state of Middle East oil flows," said Vandana Hari, founder of oil market analysis provider Vanda Insights.

Iraq has declared force majeure on all oilfields developed by foreign oil companies, three energy officials said, while oil production at ⁠Basra Oil Company has been cut to 900,000 bpd from 3.3 million bpd, Iraqi Oil Minister Hayan Abdel-Ghani said in a ministry statement.

The supply crunch has led to a temporary waiving of US sanctions on Russian and Iranian oil already at sea. Indian refiners plan to resume buying Iranian oil while refiners elsewhere in ⁠Asia are examining such a move, traders told Reuters.

Meanwhile, Russia's Baltic Sea port of Ust-Luga resumed oil loadings after a drone attack alert was lifted, industry sources said, while neighbouring Primorsk remained shut after air strikes, adding to global shortages.

Libya's El Feel oilfield has been in shutdown since ⁠Thursday after state oil company National Oil Corporation (NOC) used its pipeline to transport crude from the Sharara field after its pipeline was damaged by fire, two El Feel engineers said.

Production is expected to resume in a week to 10 days, one of the engineers said.

The war in the Middle East could see the world face its worst energy crisis in decades, International Energy Agency chief Fatih Birol warned on Monday (23 March), describing the situation as "very severe".

"Many of us remember the two consecutive oil crises in the 1970s... at that time, in each of the crises, the world has lost about five million barrels per day, both of them together, 10 million barrels per day," Birol told the National Press Club in Australia's capital.

"As of today, we lost 11 million barrels per day, so more than two major oil shocks put together," he said.

Remittance inflows rose sharply in the first two weeks of March ahead of the Eid-ul-Fitr, despite tensions in the Middle East stemming from the US-Israel war on Iran.

Expatriates sent home $2.2 billion in the first 14 days of March, up 36 percent from $1.62 billion during the same period last year, according to Bangladesh Bank (BB) data.

Bankers expect remittances to exceed $3 billion by the end of the month, as expatriates typically send more money home during Eid. Full data for the month will be available after the Eid holidays.

In February, remittances stood at $3.02 billion.

In the current fiscal year, inflows have remained strong.

Between July and March 14, remittances reached $24.65 billion, marking a 22.6 percent year-on-year growth.

However, industry insiders and economists warn that inflows may slow in the coming months due to the Middle East crisis.

A BB quarterly report also projected a possible slowdown in remittances amid migration disruptions and economic uncertainty in the region.

The escalating tensions in the Gulf have already driven up prices of oil, liquefied natural gas, fertiliser and sulphur, as Iran controls the Strait of Hormuz, a key route for about one-fifth of global oil exports and nearly one-third of fertiliser shipments.

During March 1-14, Islami Bank Bangladesh handled the highest inflow at $395 million, followed by BRAC Bank with $228 million, state-run Agrani Bank with $165 million, and Trust Bank with $163 million.

The steady rise in remittances is helping ease pressure on the balance of payments and stabilise the foreign exchange market.

Under the International Monetary Fund’s calculation method, reserves were $29.64 billion, up from $19.74 billion in the same period last year.

However, signs of volatility have emerged in the foreign exchange market after more than a year, with the taka weakening against the US dollar since early March amid rising uncertainty over the war in the Middle East.

Prime Bank FinTech Limited, a subsidiary of Prime Bank PLC., has been awarded a license to operate Mobile Financial Services (MFS) in the country.

This enables Prime Bank FinTech Ltd. to formally launch its own brand of MFS services in Bangladesh.

With this regulatory approval, Prime Bank FinTech Limited is set to reshape the country's digital financial ecosystem by addressing the vast untapped spaces. The goal is to move beyond traditional competition and foster a collaborative market environment that prioritises financial literacy and inclusive growth. By acting as a digital guardian for users, this will aim to bridge the gap for the unbanked and empower every individual to navigate the cashless economy with confidence and security.

Prime Bank FinTech Limited will operate its Mobile Financial Services under a dedicated brand identity. The brand will work closely with regulators, partners and stakeholders to ensure compliance, operational excellence and a seamless customer experience as it prepares for its formal launch.

Gold prices ticked down on Wednesday, as investors weighed the ‌risk of a more hawkish US Federal Reserve policy stance, with high oil prices increasing concerns over renewed inflation pressures.

Spot gold fell 0.4 percent at $4,986.79 per ounce as of 0915 GMT. US ​gold futures for April delivery fell 0.3 percent to $4,990.70.

“Investors are worried about rates ​staying ‘higher-for-longer’ due to elevated energy prices ... the longer the Iran conflict goes on, the more likely that scenario,” making non-yielding gold less attractive, ​said Jamie Dutta, market analyst at Nemo.money.

The Middle East conflict is in its ​third week, as Iran targeted Tel Aviv with missiles in what it said was retaliation for Israel’s assassination of Iran’s security chief Ali Larijani, Iranian state television reported on Wednesday.

Brent crude oil ​prices eased slightly, but held above $100 per barrel, as escalation in the Iran conflict ​and the ongoing closure of the Strait of Hormuz offset some relief to supply concerns.

Elevated oil prices ‌add to inflationary pressures by pushing up transport costs. While gold is viewed as a hedge against inflation and uncertainty, high interest rates curb its appeal by raising the cost of holding bullion and boosting returns on yield-bearing assets.

The Fed is widely ​expected to hold ​rates steady for ⁠a second straight meeting when it announces its policy decision later in the day.

Investors are also awaiting remarks from Fed chair Jerome ​Powell to assess the central bank’s policy view for the ​rest of ⁠2026, with futures markets seeing only one quarter-percentage-point rate cut this year, in September, and another cut in late 2027.

“Long-term drivers like central bank buying, stagflation risks and ⁠diversification ​demand still remain. That should mean higher (gold) prices ​by end of 2026,” Dutta added.

Remittance inflows to Bangladesh reached $2.2 billion in the first two weeks of March 2026, according to data from Bangladesh Bank.

The total includes inflows through state-owned, specialised, private and foreign commercial banks.

State-owned commercial banks brought in $372.49 million, with Agrani Bank leading the group at $164.52 million. Janata Bank followed with $129.92 million, while Sonali Bank contributed $63.08 million.

Specialised banks received $272.88 million, entirely through Bangladesh Krishi Bank.

Private commercial banks accounted for the largest share, bringing in $1.55 billion. Islami Bank Bangladesh topped the list with $395.29 million, followed by BRAC Bank with $228.24 million and Trust Bank with $162.53 million.

Foreign commercial banks contributed the least, with a total of $4.54 million. Standard Chartered Bank led this category, bringing in $3.37 million.

The UN Committee for Development Policy (UN CDP) is preparing a "crisis assessment" report, evaluating Bangladesh's request to delay graduation from the Least Developed Country category by three years, which is expected to be released within March, according to officials from the Economic Relations Division (ERD).

The officials said the committee will examine whether Bangladesh is facing an actual economic or structural crisis. If the CDP finds evidence of such a crisis, it may recommend extending the country's LDC graduation by three years. The recommendation would then be forwarded to the UN Economic and Social Council for consideration.

Proposals of this nature are usually approved through consensus within the economic council. However, if any member state vetoes, the matter could be put to a vote. Officials in the economic relations said the government has already asked the foreign ministry to begin diplomatic outreach and lobbying efforts to secure support from UN member states for the proposed delay.

A CDP delegation may visit Bangladesh in April and they are expected to present the findings of a readiness study conducted earlier at Bangladesh's request. However, officials said the visit will not directly influence the final decision, as the crisis assessment report will be the main factor.

The final decision could come in September during the UN General Assembly session. If the proposal is approved at that stage, Bangladesh will get three more years before formally graduating from the LDC.

For now, policymakers keep an eye on the upcoming assessment report, as its recommendations will determine the next steps.

However, a high-level meeting of the government on LDCs is scheduled to be held on 5 April, with the finance minister in the chair, where the "Crisis Assessment" report will be evaluated.

Under the current schedule, Bangladesh is set to graduate from the LDC group on 24 November this year. The third and final review process ahead of graduation is already underway.

Soon after taking power, on 18 February, the government sent a letter to CDP Chair José Antonio Ocampo seeking a three-year deferral of the graduation until November 24, 2029.

In the letter, Bangladesh noted that although it continues to meet the three graduation criteria – gross national income per capita, the Human Assets Index, and the Economic and Environmental Vulnerability Index — the five-year preparatory period has been severely disrupted by a series of global and domestic shocks.

The government cited the lingering impacts of the COVID-19 pandemic, the Russia-Ukraine war, tensions in the Middle East, tight global financial conditions, and the slow recovery of international trade.

On the domestic front, it highlighted irregularities in the financial sector, the change in government following the July 2024 uprising, and the ongoing pressure of hosting displaced Myanmar nationals.

According to the letter, these shocks have led to macroeconomic instability, slower GDP growth, high inflation, and a decline in both public and private investment. It also pointed to mounting pressure on foreign exchange reserves, reduced imports of capital machinery and raw materials, and slower job creation due to weakened investment.

Against this backdrop, the government said its policy focus had shifted toward short-term stabilisation and crisis management, preventing effective utilisation of the preparatory period.

The letter also raised concerns about post-graduation trade risks, including the potential loss of preferential market access for ready-made garment exports to the European Union and the risk of possible countervailing duties from the United States.

Considering the crisis, Bangladesh has requested a three-year extension to stabilise the economy and complete priority actions under its Smooth Transition Strategy.

Officials added that beyond the issues mentioned in the letter, the ongoing conflict across the Middle East could pose additional risks for Bangladesh. Rising military tensions involving the United States, Israel, and Iran have heightened instability in the region.

A prolonged conflict could fuel inflation and disrupt macroeconomic stability, further strengthening the case for deferring LDC graduation by three years.

Stakeholders warn that extended tensions among the US, Israel, and Iran could exert multidimensional pressure on Bangladesh's economy. There are concerns over rising energy import costs, given the country's heavy reliance on oil and gas imports from the Middle East. Escalating conflict could drive up global energy prices, increasing electricity generation and transportation costs.

Additionally, a large number of Bangladeshi workers are employed in countries such as Saudi Arabia, Qatar, Oman, and the United Arab Emirates. Heightened regional instability could shrink labour markets and create income uncertainty.

There are also fears of increased transportation costs for exports. Rising tensions in the Red Sea or the Strait of Hormuz could push up marine insurance and shipping costs, affecting key export sectors, including ready-made garments. Higher energy and import costs would also increase demand for US dollars, putting further pressure on foreign exchange reserves, experts say.

The Cabinet today (17 March) approved Bangladesh's proposal to join the 'Investment Facilitation for Development Agreement (IFDA)' under the plurilateral Joint Statement Initiative of the World Trade Organization (WTO).

The decision was made at a Cabinet meeting held at the Secretariat, chaired by Prime Minister Tarique Rahman.

Cabinet Secretary Nasimul Ghani told reporters that the agreement aims to facilitate foreign direct investment (FDI) in Bangladesh.

He said the pact does not impose any new obligations regarding market access or investor-state dispute settlement. Instead, it seeks to enhance transparency in investment procedures, simplify registration and approvals, reduce unnecessary multiple applications, and maintain a database of domestic investors.

The government expects that joining the agreement will further boost Bangladesh's international reputation as an attractive destination for foreign investment.