The Bangladesh Bank has unveiled yet another exit strategy to tackle the country's ballooning non-performing loans, promising to bring them under control within 18 months through stronger supervision, loan restructuring, legal reforms and quicker recovery of distressed assets.

Similar promises were also made before. Successive governments and central bank governors relied on repeated loan rescheduling and regulatory relaxations, yet bad loans climbed to a record Tk5.89 lakh crore, a third of total bank loans. The question now is whether this roadmap marks a genuine break from the past – or, merely another attempt to buy time without fixing the banking system.

Taking office as finance minister of the now deposed Awami League government in January 2019, AHM Mustafa Kamal had said non-performing loans would not grow even by "a single penny from today". He had also promised of an exit plan to stop new loans from turning default. But NPLs continued to soar. And the measures taken by him and two governors during his time rather gave bad borrowers a safe exit and helped banks hide their real health under the carpet.

After the political transition in 2024, the Bangladesh Bank during the interim government's period uncovered the true scale of distress in several banks and launched emergency measures, including asset quality reviews, bank mergers, and efforts to recover stolen assets.

Before those measures could see preliminary success, the new government took office earlier this year. New central bank governor Mostaqur Rahman, in his first half-yearly monetary policy statement made on 30 June, outlined a long-term roadmap to tackle NPL within the next 18 months. His plan combines stronger supervision, capital restoration, restructuring for viable borrowers, quicker loan recovery through courts, emergency liquidity support, and implementation of the new Bank Resolution and Deposit Protection Acts.

The day before, the central bank announced a mega offer. As part of its bid to bring NPL under control to comply with the International Monetary Fund's new loan requirements, the central bank will now allow banks to waive interest on loans entirely in case of one-time settlement, meaning that defaulters would not have to pay any interest if they repay the principal amount only.

Analysts have cautioned such an offer might adversely affect capital positions of banks, particularly the cash-strapped ones.

Banks lend depositors' money, not their own. Waiving interest may clean up balance sheets, but it also erodes income. Who will bear that loss? Depositors? Shareholders? Bankers? Or, ultimately taxpayers if public money is used to recapitalise banks?

Countries that successfully brought down NPLs after banking crises rarely relied on a single measure. Instead, they combined swift recognition of bad assets, bank recapitalisation, specialised asset management companies (AMCs), legal reforms, and strict accountability. Experience from Asia, Europe and the United States shows that governments were often able to recover much of the public money used to rescue banks.

Following the Asian financial crisis, South Korea created its AMC named KAMCO to purchase distressed loans, while Malaysia established Danaharta to restructure viable borrowers and dispose of unviable assets. Both helped banks clean up balance sheets and resume lending.

Similar steps helped Sweden, Ireland and the USA overcome their banking crises in the 1990s.

But not every AMC did see similar success. Such initiatives in Indonesia and Nigeria did not yield much due to weaker governance and legal challenges.

International experiences suggest that the AMC is not a cure by itself if it is not backed by a comprehensive national strategy involving strong bank supervision, operational independence, legal reforms, out-of-the-court debt restructuring and development of a market for distressed loans.

These instruments succeed only when governments are willing to recognise losses, pursue influential defaulters and insulate the recovery process from political interference.

For Bangladesh, all these principles are yet to be tested, though Governor Mostaqur expects AMCs to become effective by 2027. Experience of Ukraine and Turkey in tackling bad loans has made him hopeful about the success of his exit plan, which, he said, will be supported by necessary legal reforms and strong monitoring.

Economist Dr M Masrur Reaz says the latest exit plan announced by the central bank is a welcome step, compared with previous bad practice of loan rescheduling that only kept NPLs soaring. "All defaulters are not wilful. The one-time settlement will provide good borrowers an exit."

Masrur, who is chairman of the think tank Policy Exchange Bangladesh, said the central bank should now sit with lending banks to discuss how they would implement the new scheme successfully and what support they might need.

The government needs to make the AMC a reality. Such initiative worked well in countries like the Philippines and India, he pointed out.

Masrur attributes "policy inertia" and abuse of political and business power to failure of previous steps to contain bad loans in Bangladesh.

He hoped it might work this time. "Those who abused power in the past have lost their business. Many of them even had to flee the country. These should be a strong safeguard against such abuses in future," he said.

Besides, he added, development partners such as the IMF and the World Bank have strictly attached NPLs and bank governance to their budget support packages, obliging the government to "walk the talk".

The Bangladesh Water Development Board (BWDB) has completed just 28.56 percent of its share of a nationwide project to modernise flood control, drainage and irrigation infrastructure and help farmers cope with climate shocks, forcing a two-year extension from the initial deadline of June 30, 2026.

The findings were revealed in an impact evaluation report of the project released last week by the Implementation Monitoring and Evaluation Division (IMED) of the planning ministry.
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The report assessed the implementation progress of the Climate-Smart Agriculture and Water Management Project as of April 2026, when cumulative financial expenditure stood at just 17.22 percent of the approved cost of Tk 1,182 crore.

Of the total estimated cost, Tk 332 crore will be funded by the government and Tk 850 crore by the World Bank. The project was scheduled to run from 1 January 2022 to 30 June 2026 across 27 upazilas in 17 districts spanning all eight divisions.

However, with it being clear the project cannot be completed on schedule, the Project Steering Committee, at a meeting on 17 May 2026, recommended a two-year extension, said the report.

The project was approved by the Executive Committee of the National Economic Council (Ecnec) on 7 December 2021.

A revised implementation plan is being prepared, pushing the completion date to June 2028.

THE DELAY

According to the IMED report, during the initial phase of the project, the recruitment of consultants took approximately 2.5 years due to the World Bank’s approval process.

As a result, no civil works contracts could be tendered or awarded during this period, causing delays in the commencement of construction activities at the outset of the project, it mentioned.

It also said the implementation of construction works under the project has been delayed due to complexities associated with land acquisition.

In addition, the establishment of markets and residential settlements adjacent to the flood control embankments has significantly increased land values, making the acquisition of land and the sourcing of suitable earth for construction more difficult.

The IMED report also said under a service package, the project’s proposal stipulated that the procurement expert would be engaged on 8 March 2022.

However, the contract was actually signed on 12 February 2023, resulting in a delay of nearly one year before the expert was appointed, it said.

In the absence of an expert, the project office prepared the draft requests for proposals and carried out procurement evaluations during the first eleven months of project implementation.

As these documents did not fully comply with the World Bank’s procurement requirements and standards, the development partner repeatedly raised queries and requested revisions, significantly prolonging the procurement process.

Consequently, approximately 2.5 years were spent before the procurement process could be brought into compliance, it added.

DELAY WAS AVOIDABLE

The IMED report said the delay was avoidable.

It explained that the procurement expert should have been recruited at least three months prior to the invitation of bids for the first works package.

Moreover, while the recruitment of the design consultant was in progress, the project office could have utilised its own engineers or the implementing agency’s technical team to prepare draft standard procurement documents and pre-qualification criteria for the remaining procurement packages.

This would have enabled the procurement expert, upon joining in February 2023, to review and finalise the documents promptly, allowing the work packages to be tendered before 2024 and minimising delays in project implementation.

RISING COST

With the project’s two-year extension, the cost is now expected to rise as well.

Escalating prices of construction materials, higher labour wages, increased fuel prices, rising transportation costs, and overall market inflation will require additional financial resources to complete the remaining works, the IMED said.

Furthermore, as the project is financed through external loan assistance, the extension may result in additional financial and administrative burdens.

According to IMED, the two-year extension could result in higher commitment charges, front-end fees, loan management costs, administrative complications arising from delayed disbursements, and the risk of renegotiating or revising the loan conditions.

RECOMMENDATIONS

To sustain the project’s benefits long-term, the IMED recommends turning water management organisations into more effective and participatory institutions.

It also recommends strengthening the participation of local fishers, women, and smallholder farmers; establishing user-based operation and maintenance funds; providing training on gate operation and water management; and introducing digital water management systems.

To maintain the effectiveness of the re-excavated canals and rivers, the report recommends installing silt traps and implementing regular maintenance dredging programmes.

It also suggests introducing an IoT-based automated water control system to monitor river water levels and upstream flood flows in real time.

For riverbank protection works specifically, it calls for digital weighing devices to verify geobag weight, regular field supervision by engineers, proper curing of concrete blocks, and prompt repair of weakened embankment sections.

In a sweeping commitment to modernise Bangladesh's capital market, the newly appointed Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Masud Khan, has vowed to dismantle the "analog hurdles" and "bureaucratic pains" that have long stifled the country's bourses.

Addressing a meet-and-greet programme organised by the DSE Brokers Association of Bangladesh (DBA) on 2 July at the DSE Tower, the BSEC chief promised to transition the market into a digital-first, transparent, and vibrant ecosystem.

His vision rests on a fundamental mantra: "Regulate where necessary and simplify where possible." From ending the culture of paper-based trade orders to introducing condensed quarterly reporting, the Chairman's roadmap signals a decisive shift toward deregulation and institutional empowerment.

Ending the 'analog' risk

One of the most significant reforms announced is the total digitisation of share trading orders. Masud Khan sharply criticised the existing practice where clients sign physical papers to authorise traders, often leading to unauthorised sales and misappropriation of funds.

"Our current share buy-sell orders are still paper-based. Clients sign a paper without even verifying what is written, giving traders the power to move their assets. Later, we see disputes where shares were sold against the client's will," Masud Khan observed.

"This analog system must end. We will introduce a system where clients place their own orders digitally, as is the global standard. Once we stop the analog method, no one will be able to embezzle investor funds."

Stopping the 'love letters'

Drawing from his 45 years of corporate experience, including his tenure as CFO of LafargeHolcim Bangladesh, Khan empathised with the "pain" of compliance reporting.

He noted that currently, listed companies are often harassed with dozens of queries – which he jokingly referred to as "love letters" – from both the DSE and BSEC after every quarterly submission.

"I have carried this pain with me to this office. Today, I stand here to say this pain will stop," Khan declared. He announced that the BSEC will introduce IAS 34 (Interim Financial Reporting) to allow for "condensed" quarterly reports.

"Beyond IAS 34, no additional queries will be sent for quarterly results. Detailed reporting will only be required for annual statements. We want to reduce the burden on companies so they can focus on growth," Masud Khan stated.

IPO and bond market: Breaking the stagnation

Addressing the long-standing drought of quality listings, the BSEC Chairman acknowledged that current IPO rules are far from "friendly." He compared the ease of securing a bank loan within three months to the years-long, exhausting process of going public.

"I know the pain of the IPO process. We are going to simplify these rules significantly through amendments," he said, adding that he would soon meet with the Institute of Chartered Accountants of Bangladesh (ICAB), the stock exchanges, and the Bangladesh Merchant Bankers Association (BMBA) to streamline the process.

Regarding the bond market, Khan questioned why corporate bonds are not getting listed or traded. He attributed the failure to "abnormally high" listing fees and promised to slash costs to encourage trading. "If we want a fixed-income option, it must be traded so people can decide its value. Corporate bonds need to be part of the daily market activity."

Legal reforms and the 'junk' share ghost

Masud Khan also highlighted a major technical flaw in the Capital Market Tribunal, which currently forces cases through civil courts before they can reach the tribunal, rendering the body ineffective. "We are amending the law so that capital market cases can be filed directly with the tribunal, ensuring swift justice," he said.

In a stern warning to market manipulators, the chairman noted that currently, the shares that "keep jumping" are often junk stocks of closed companies. To combat this, he announced the imminent launch of a robust, real-time integrated surveillance system between the BSEC, DSE, and CDBL.

"There will be triggers to halt and release trading automatically. This is the only way to control the 'uninformed, illiterate' speculation that dominates the floor today," he added.

Brokers push for netting and the 'FINRA' model

The DBA leadership, led by President Saiful Islam and Senior Vice President Moniruzzaman, presented their own set of demands to align with the BSEC's reform agenda. A primary concern was the Member Margin Requirement. Currently, brokers are forced to maintain margins based on gross "buy" amounts with the stock exchanges, regardless of their "sell" volume.

"The settlement is done on a net basis, but we are burdened with margins on a gross basis. This forces us to borrow hundreds of crores from banks unnecessarily," Moniruzzaman explained. He also urged the DSE to align with the Chittagong Stock Exchange (CSE) in accepting cheques as valid instruments for trading.

DBA President Saiful Islam called for a long-overdue review of the 2013 Demutualisation Scheme to further empower the exchanges. He also proposed a transformative shift for market intermediaries: the creation of a Self-Regulatory Organization (SRO), similar to the US FINRA or Japan's JSDA models.

"We want the BSEC to focus on policy while a separate body monitors and governs market intermediaries. This would reduce the regulator's burden and take our market to the next level," Saiful Islam said.

He also voiced a shared sentiment that the BSEC should never again be involved in "so-called roadshows," as seen under the previous regime.

A sustainable future

The programme concluded with remarks from DSE Chairman Mominul Islam, who urged for "investment-friendly regulations" while stressing that the industry must also develop its own internal capacity to comply with new standards.

Riad Mahmud, President of the Bangladesh Association of Publicly Listed Companies (BAPLC), added that the limitations on the utilisation of IPO proceeds should be withdrawn to allow companies operational flexibility.

Masud Khan ended the session with a pledge of action: "We want this capital market to grow sustainably, not through artificial booms. We are not just here to listen; we are here to execute. We will do it together."

Finance Minister Amir Khosru Mahmud Chowdhury today (Saturday) said Bangladesh is moving towards becoming a trillion-dollar economy, driven by growing domestic and foreign investments and the government's long-term development strategy.

Speaking to journalists at Shah Amanat International Airport during his visit to Chattogram, the minister said the national budget has been formulated with a focus on maximizing the country's regional economic potential and attracting investment, BSS reports.

He said Bangladesh is witnessing increasing inflows of investment, including foreign direct investment (FDI), capital market investment and contributions from international fund managers.

"The budget has been designed primarily for the benefit of Bangladesh, taking into account the unique potential of different regions and identifying ways to utilize those opportunities," he said.

Highlighting Chattogram's strategic importance, Amir Khosru said the government has undertaken a series of initiatives to transform the port city into a regional logistics hub.

"With its seaport and strategic geographical location, Chattogram holds immense potential. Recognizing this, the government has incorporated a number of initiatives into its development agenda," he said.

The minister said a decision has been taken to establish a 600-acre free zone in Anwara across the Karnaphuli River, while several port development projects are also planned in the region.

He said the budget includes measures to develop Chattogram into a logistics hub alongside plans to upgrade Shah Amanat International Airport into a major cargo and passenger hub.

Amir Khosru also said a Chinese economic zone will be established in Chattogram and the government plans to reduce rail travel time between Dhaka and Chattogram by about two hours through the improvement of the Laksam section of the railway.

"If these initiatives are implemented, the economic corridor centred on Chattogram will evolve into a logistics hub, allowing the ports to operate more efficiently," he said.

The minister said major development activities are also underway in the Matarbari area, adding that the budget has been prepared with particular emphasis on strengthening the economic and logistics capabilities of the Chattogram region.

Describing the initiatives as long-term projects, he said their implementation would take several years, although the government intends to begin work as early as possible.

Referring to the country's economy, Amir Khosru said implementing such a large budget remains a significant challenge.

"The current administration inherited a fragile economy from its predecessor, while the ongoing conflict in the Middle East has added further pressure. Our immediate priority is to stabilize the economy before fully utilizing our development potential," he said.

He expressed optimism that the country's economic outlook would improve in the third and fourth years of the current government's tenure, paving the way for sustained growth.

"Bangladesh will move towards becoming a trillion-dollar economy by fully utilizing its potential," he added.

Chattogram City Corporation Mayor Dr. Shahadat Hossain, Chattogram Development Authority (CDA) Chairman Engineer Belayet Hossain and Chattogram City BNP Joint Convener MA Aziz were present.

Economic growth in Bangladesh slows as inflation inflates household and governmental consumption expenses and deflates the volumes of goods and services consumed, just-past fiscal year's available accounts show such domino effect of price rises.

Provisional estimates prepared by Bangladesh Bureau of Statistics (BBS) show total consumption expenditure increased nearly 12 per cent in FY2025-26 to Tk 48.116 trillion.

The consumption-cost escalation is evident under the expenditure approach to measuring gross domestic product (GDP).

Consumption remains a predominant component of Bangladesh's GDP, accounting for more than 78 per cent of total expenditure, while investment represents most of the remaining share.

Private consumption alone contributes around 73 per cent of GDP, with government consumption accounting for about 6.0 per cent.

Officials at BBS told The Financial Express that consumption expenditure typically rises sharply during periods of elevated inflation because households and the government have to spend more money to purchase the same quantities of goods and services.

On average, inflation in the past 11 months of the immediate-past fiscal year was approximately 9.0 per cent while the GDP deflator-a broader measure of price changes across the economy-increased around 10 per cent.

The simultaneous rise in consumer prices and the GDP deflator substantially inflated nominal consumption expenditure, according to BBS national accounting wing.

"When inflation remains persistently high, the purchasing power of money declines. Consumers, therefore, have to spend significantly more to maintain the same standard of living, even if the actual quantity of goods and services consumed changes little," says a senior BBS official at the wing.

He says higher nominal consumption should not automatically be interpreted as an improvement in household welfare.

A large portion of the increase simply reflects higher prices rather than stronger real demand.

The provisional GDP estimates also show that total investment expenditure expanded by 8.59 per cent during the fiscal year, supported by increases in both private-sector investment and public development spending.

Under the expenditure method of GDP calculation, economic output is measured by combining three key components: household and government consumption expenditure, gross capital formation or investment, and net exports.

Bangladesh has consistently recorded a negative contribution from net exports because imports continue to exceed exports, reducing the overall expenditure-side GDP.

Officials say GDP estimates prepared under both the production approach and the expenditure approach broadly converge, with only limited statistical discrepancies, which are considered normal in national accounting.

The expenditure-side estimates suggest inflation remained the principal driver of nominal GDP growth during FY2025-26.

While households spent considerably more in monetary terms, much of that increase was needed merely to offset rising prices rather than to finance higher real consumption.

Economists say the latest figures highlight the distinction between nominal and real economic growth.

Dr Zahid Hussian, an independent economist, says although current-price GDP expands during periods of high inflation, the real purchasing power of consumers may stagnate or even decline if wage growth fails to keep pace with rising living costs.

Bangladesh stands at a rare moment of opportunity. Prime Minister Tarique Rahman enters office with a decisive mandate, a reform-minded coalition and the legitimacy of the July Uprising, which ended a decade of one-party rule.

Guided by the July National Charter and his "Bangladesh First" doctrine, he has pledged an inclusive state, an end to politics driven by fear and an economy that creates opportunities for the country's young majority.

His early instincts mirror the principles behind Singapore's success. The prime minister has sought to repair ties with India without compromising Bangladesh's position on the Teesta and Padma waters, courted Chinese investment while reviewing trade arrangements with the United States through the lens of sovereignty, and insisted that Bangladesh pursue its own national interests.

Combined with the institutional reforms enabled by the July Charter, this approach offers Bangladesh an opportunity to build a stronger and more resilient state.

Singapore and Bangladesh began from modest circumstances. Singapore emerged as a resource-poor island state in 1965 with no hinterland and a divided population.

Six decades later it is the world's third-largest recipient of foreign direct investment (FDI), behind only the United States and China, with an inward FDI stock of $2.63 trillion.

Bangladesh, despite having nearly thirty times the population, has an inward FDI stock of roughly $20 billion. The difference reflects two enduring disciplines: a balanced foreign policy and an investment regime built on consistency.

Fifty years, measured in capital

Singapore's inward FDI stock grew from only a few billion dollars in 1980 to around $30 billion in 1990, $111 billion in 2000, $633 billion in 2010 and $2.63 trillion by 2023, when it attracted nearly $160 billion in fresh investment.

Bangladesh's inward FDI stock remains roughly 128 times smaller. On a per capita basis, Singapore hosts about $430,000 of foreign investment per resident, while Bangladesh attracts just over $100.

The first discipline: a foreign policy that refuses to choose

Singapore has built its diplomacy on strategic balance. It maintains one of Southeast Asia's closest defence relationships with the United States while China remains its largest trading partner and partner in projects such as the Suzhou Industrial Park.

At the same time, it has maintained independent positions on Taiwan and supported the 2016 South China Sea arbitration without rupturing relations with either power.

The principle is simple: Singapore acts according to its own interests through a rules-based foreign policy. That consistency allows a small state to disagree with major powers without becoming trapped by them.

For investors, it provides confidence that their capital is located in a country unlikely to be drawn into geopolitical confrontation and able to maintain access to major global markets.

The second discipline: a compact with investors that never changes

Foreign policy provides stability; investment policy converts it into capital. Since establishing the Economic Development Board in 1961, Singapore has made one promise to investors and kept it: "Invest here, and the rules will not change."

Foreign companies are not forced into joint ventures or required to surrender management control. Domestic and foreign firms operate under the same laws. Capital and profits can be repatriated freely, company registration is streamlined through a single window, and incentives are transparent and based on published criteria rather than political connections.

These policies rest on strong institutions. Lee Kuan Yew regarded clean administration, enforceable contracts, protected property rights and an honest civil service as non-negotiable. Capital may not be sentimental, but it consistently rewards predictability.

Consistency as the asset itself

The common thread behind Singapore's success is continuity. Its one-party dominance is not a model Bangladesh should emulate, but the policy consistency beneath it is.

Through successive leaders – from Lee Kuan Yew to Goh Chok Tong, Lee Hsien Loong and Lawrence Wong – foreign policy and investor protections remained national assets rather than partisan projects. Investors making thirty-year commitments could trust the rules to outlast the governments that introduced them.

Bangladesh has too often sent the opposite signal. Incentives have been introduced and withdrawn, regulations revised with each administration, and special economic zones left underutilised because credibility, not infrastructure, has been lacking.

Frequent changes to tax and duty structures have further eroded investor confidence.

Bangladesh cannot replicate Singapore's geography or political system, nor should it try. But the disciplines behind its $2.63 trillion FDI stock are choices, not geography.

In foreign policy, Bangladesh should maintain balanced relations with Washington, Beijing and Delhi while acting consistently in its own national interest.

In investment policy, it should establish a durable framework based on equal treatment of investors, unrestricted capital repatriation, transparent incentives and taxation, a genuine single-window system, efficient courts and an honest bureaucracy – and preserve those rules across electoral cycles.

Bangladesh also enjoys advantages Singapore never had: a domestic market of about 170 million people, a large young workforce and favourable demographics. Those strengths will translate into sustained growth only if matched by credible, consistent and investor-friendly policies.

Tarique Rahman has inherited what few Bangladeshi leaders have enjoyed: a powerful reform mandate, institutional backing through the July National Charter and a strategic position sought by every major power.

By institutionalising a balanced foreign policy and consistent, investor-friendly rules that endure across governments, Bangladesh can emulate the enduring principles behind Singapore's success. The blueprint exists; the challenge is to implement it with discipline and continuity.

The author is the Director, Putnam Capital Advisory Pte Ltd, Singapore.

Oil prices were little changed for the week as traders held on to hopes for a successful outcome from attempts to secure peace between the US and Iran.

Brent futures were up 14 cents, or 0.19 percent, at $71.94 a barrel by 2:31 p.m. ET (1831 GMT), ending the week just 5 cents lower than last Friday’s close. West Texas Intermediate was up 9 cents, or 0.13 percent, at $68.78 a barrel.

Trading was light as US markets were closed ahead of the US Independence Day holiday on Saturday. On Thursday, the two oil benchmarks had hit their lowest levels since before the US-Israeli war with Iran began in late February.

Investor hopes for a full reopening of the Strait of Hormuz are being buoyed by peace talks between the US and Iran, Commerzbank analysts said.

The proportion of individuals using the internet across Bangladesh continued its upward climb in the third quarter of the current fiscal year, according to the latest quarterly report of the ICT Access and Use Survey 2025-26, published by the Bangladesh Bureau of Statistics (BBS).

Meanwhile, in the same period, mobile phone ownership recorded a marginal dip after two consecutive quarters of growth.

The report, covering the January-March 2026 quarter, found that 58.6 percent of individuals aged five years and above used the internet, up from 58.4 percent in the second quarter (October-December 2025) and a sharp rise from 48.9 percent in the first quarter (July-September 2025).

Mobile phone ownership, however, edged down slightly to 65.4 percent in the third quarter from 65.5 percent in the second quarter, after rising steeply from 56.5 percent in the first quarter.

Despite the dip in ownership, overall mobile phone usage — which includes shared devices — rose marginally to 89.5 percent in the third quarter from 89.4 percent in the previous quarter and 80.6 percent in the first quarter.

Computer use among individuals also inched up, reaching 11.7 percent in the third quarter, compared with 11.4 percent in the second quarter and 10 percent in the first, indicating a slow but steady increase in digital device adoption.

At the household level, the survey — conducted through Computer Assisted Personal Interviewing (CAPI) across all 64 districts — found that internet access rose to 57.4 percent of households in the third quarter from 57.2 percent in the second quarter and 56.2 percent in the first.

Comparing full-year figures, household internet access has climbed from 55.1 percent in 2024-25 to 57.4 percent in the current survey year so far.

Mobile phone ownership at the household level remained virtually saturated at 98.9 percent throughout all three quarters, unchanged from the previous year.

The proportion of households owning a smartphone rose slightly to 73.4 percent in the third quarter from 73 percent in the second quarter and 72.4 percent in the first, continuing a gradual upward trend from 72.7 percent recorded in 2024-25.

Ownership of computers at the household level, meanwhile, showed only marginal movement, dipping to 8.9 percent in the second quarter before recovering to 9 percent in the third quarter, broadly flat compared with 9 percent in 2024-25.

Other indicators showed limited change. The proportion of households with a television dipped slightly to 58.8 percent in the third quarter from 59.2 percent in the second quarter, while radio ownership remained largely static at around 15 percent throughout the year.

Fixed-line telephone ownership continued its long-term decline, falling to 0.7 percent of households from 0.8 percent in 2024-25, as mobile phones remained the dominant mode of household connectivity, with 98.2 percent of households relying exclusively on mobile phones.

Household access to electricity showed a slight downward trend over the year, falling from 98.9 percent in the first quarter to 98.5 percent in the third quarter, though it remained near-universal nationwide.

The ICT Access and Use Survey, conducted under the BBS project titled "Measurement of ICT access and use opportunities at individual and household level, district-wise", is the second large-scale, and the first district-representative, survey of its kind, following an earlier modular survey conducted in 2013.

It covers 2,568 sample areas nationwide, gathering data from 61,632 households per quarter, amounting to 246,528 households annually, through 214 trained field enumerators.

The findings, once compiled from all four quarters, will be released as an annual report and will also feed into 22 indicators to be submitted to the International Telecommunication Union, supporting national and global tracking of Sustainable Development Goal targets related to digital access and use.

Government authorities have identified 19 of the state-owned enterprises (SOEs) that are posing a "very high financial risk" with a combined liability burden of Tk 2.2238 trillion.

A recent assessment by the Ministry of Finance (MoF) has dug out the downside of the public-sector corporates, underscoring urgent reforms.

The findings signify mounting fiscal pressures from the country's public corporate sector while the government finds it difficult to make two ends meet in financing national budget.

A review, conducted by the Finance Division, has found many an SOE financially vulnerable despite their strategic importance to the economy.

Bangladesh currently has 122 state-owned enterprises operating across key sectors, including energy, transport, manufacturing, SME development, and public services.

Bangladesh Power Development Board (BPDB) accounts for the largest share of liabilities, with an outstanding debt buildup worth Tk 1.784 trillion. Also in the power sector, Gas Transmission Company Limited (GTCL) carries liabilities of Tk 141.31 billion.

The review has found the financial performance of many SOEs sliding continuously, with overall cost-recovery ratios remaining far below sustainable levels.

Operating revenues are insufficient to fully cover operating costs, while returns on assets and equity remain persistently low, reflecting weak operational efficiency and limited financial viability.

The assessment has also highlighted sizeable contingent liabilities amounting to Tk 345.42 billion.

These represent debt obligations for which the government has provided sovereign guarantees to domestic and foreign lenders.

"Should the borrowing entities fail to meet their repayment obligations, the government would be required to assume responsibility for the liabilities, increasing fiscal risks," the review report cautions.

In addition to loan guarantees, many SOEs continue to rely on substantial budgetary subsidies to sustain operations that further builds up pressure on public finances.

The Finance Division recognizes that SOEs play a critical role in supporting economic development, delivering essential public services and advancing strategic national objectives.

Several of the enterprises contribute directly to energy security, food security, infrastructure development and trade facilitation, making them integral to the country's long-term development agenda.

However, the ministry warns that persistent financial weaknesses across a number of enterprises require continued monitoring and sustained policy attention for a redress.

Without structural reforms, the deteriorating financial position of loss-incurring SOEs could increase fiscal vulnerabilities and reduce the government's capacity to allocate resources to other development priorities.

The report stresses that strengthening corporate governance, enhancing operational efficiency and improving financial sustainability should remain key priorities for policymakers. It says better financial management, stronger accountability and improved commercial performance would help maximise the public value generated by state-owned enterprises while containing the government's fiscal exposure.

The Finance Division adds that building a transparent, accountable and financially sustainable SOE sector is essential for safeguarding macroeconomic stability.

"A stronger public-enterprise sector," it recommends, "would contribute to greater economic resilience, support inclusive growth and help Bangladesh achieve its long-term sustainable- development objectives while reducing the burden on the national budget."

Washington is seeking to move away from unilateral trade preferences and ineffective aid towards a fairer, more reciprocal economic relationship with Dhaka centred on trade, investment and long-term cooperation, US Ambassador to Bangladesh Brent Christensen said yesterday.

“As I’ve said before, America First does not mean America alone,” he said, adding that the US values partnerships that advance mutual interests and benefits. “We want a genuine partnership -- one that creates opportunities for Americans and Bangladeshis alike.”

Bangladesh has the potential to become an increasingly important economic hub due to its dynamic private sector and young workforce, he said at an event marking 250 years of American independence, jointly organised by the US Embassy and the American Chamber of Commerce in Bangladesh (AmCham) at Sheraton Dhaka.

He described the US-Bangladesh agreement on reciprocal trade and investment as an important step towards expanding economic cooperation, boosting investment, creating jobs and facilitating skills transfer.

The ambassador said Bangladesh’s economic potential can be further unlocked through reducing bureaucracy, tackling corruption, encouraging competition and creating a more business-friendly environment.

He also emphasised growing cooperation in energy and said there is significant potential for collaboration in technology, the digital economy, healthcare, defence, security and investment.

Mahdi Amin, adviser to Prime Minister Tarique Rahman, said the BNP-led government is committed to creating a more attractive environment for foreign direct investment (FDI), pledging policy support, deregulation and a level playing field for international investors.

Foreign investment, he said, plays a critical role in generating employment, boosting revenue collection and accelerating growth through technology transfer and innovation.

Amin cited Bangladesh’s large youth population and expanding domestic market as key draws for investors, and pointed to profit repatriation, tax incentives, economic zones and high-tech parks as measures the “pro-business” administration has taken to attract capital.

He called for stronger Bangladesh-US trade and investment ties and urged more American companies to explore opportunities in the country.

Syed Mohammad Kamal, AmCham president, said the chamber has contributed significantly to Bangladesh’s economic growth over the past three decades, supporting investment and knowledge transfer in sectors including telecommunications, the digital economy, garments, medical equipment and aviation.

“AmCham has always tried to be the first point of contact for US investment coming to Bangladesh, and we will continue doing that,” he said, adding that the inclusion of the embassy’s commercial adviser on AmCham’s executive committee would help generate new initiatives to expand business engagement.

Kamal said the chamber remains committed to creating a conducive environment for investment and facilitating stronger connections between US businesses and Bangladesh’s private sector.

Muhammad Ala Uddin Ahmad, vice-president of the AmCham, said the chamber would continue to serve as a bridge between the two countries while promoting a competitive and future-ready Bangladesh.As the US marks the 250th anniversary of its independence, he said, both nations should look ahead with confidence to a new chapter of partnership, friendship and shared success.

The Bangladesh Securities and Exchange Commission (BSEC) plans to abolish the requirement for listed companies to submit quarterly financial statements and instead introduce mandatory half-yearly financial reporting as part of broader reforms to align Bangladesh's capital market with international standards.

Announcing the move at a programme organised by the DSE Brokers Association (DBA) at the DSE Tower on Thursday (2 July), BSEC Chairman Masud Khan said the existing reporting framework places an unnecessary compliance burden on listed companies.

"We will no longer ask companies to submit three-month financial reports. We will require half-yearly reports, and gradually our reporting framework will be aligned with international standards," he said.

Recalling his experience in corporate affairs, Khan said companies were often required to respond to numerous regulatory queries after submitting quarterly reports.

"When I was responsible for corporate affairs, we had to report every quarter to the regulators – the Dhaka Stock Exchange and the BSEC. After submitting reports, we would receive 10, 20 or even 30 follow-up queries. I have experienced that pain firsthand. Standing here today, I can say this will no longer continue," he said.

The BSEC chairman also announced plans to amend the country's initial public offering (IPO) rules. He said the commission would consult the Dhaka Stock Exchange (DSE), the Institute of Chartered Accountants of Bangladesh (ICAB) and the Bangladesh Merchant Bankers Association (BMBA) before finalising the reforms.

Khan said the regulator is also working to allow pension and gratuity funds to invest in the capital market, noting that these funds are currently invested mainly in national savings certificates and treasury bonds.

He added that the commission had found many such funds operating outside existing trust regulations and would take steps to bring them into compliance.

The BSEC chief also said investors would be allowed to file cases directly with the Capital Market Tribunal after the relevant rules are amended.

"At present, no one can file cases directly with the tribunal because the supporting rules are not in place. We will amend the rules," he said.

During the programme, DBA Senior Vice-President Moniruzzaman urged the regulator to address issues including script netting, introduce a T+0 settlement mechanism and reform member margin requirements.

He also highlighted differences in collateral requirements between the Dhaka and Chittagong stock exchanges, saying the Chittagong Stock Exchange accepts cheques as collateral while the DSE requires members to deposit the full amount. He called for replacing the existing Tk10 crore free limit with limits based on members' trading capacity.

DBA President Saiful Islam also urged the BSEC to review the DSE's demutualisation scheme to improve transparency in the exchange's operations.

The programme was attended by BSEC Commissioners Tanwir Habib Rahman, Nahid Mahtab and Md Nafeez Al Tarik, DSE Chairman Mominul Islam and other capital market stakeholders.

Prime Minister Tarique Rahman has asked the concerned officials to quickly complete the process of reopening loss-making and closed state-owned factories through domestic and foreign investment.

He gave the directive in a meeting held to review the procedural progress for resuming operation of the factories at his Tejgaon office today (4 July), said PM's deputy press secretary Hasan Shiplu.

During the meeting, officials reported that many private companies have expressed interest in investing in those factories.

The proposals submitted by the companies for revival of the industries will now undergo feasibility assessments.

The premier emphasised that the entire process must be carried out transparently. He also instructed officials to avoid unnecessary delay and complete the process as quickly as possible.

Industries and Jute and Textiles Minister Khandakar Abdul Muktadir, State Minister for Jute and Textiles Shariful Alam, PM's Finance and Planning Adviser Rashed Al Mahmud Titumir, Bangladesh Investment Development Authority (BIDA) Executive Chairman Ashik Chowdhury, Prime Minister's Principal Secretary ABM Abdus Sattar and secretaries of the relevant ministries and senior officials from various institutions under the ministry of Industries were present.

Mohammad Mohsin has been elected as the president of the Bangladesh Ship Breakers and Recyclers Association (BSBRA).

The election was held at the Radisson Blu Chattogram Bay View in the port city yesterday.

Mohammad Selim Uddin was elected senior vice-president, while Md Nuruddin Rubel and Gazi Mokarram Ali Chowdhury, respectively, were elected vice-presidents.

Election Board Chairman Md Aftab Uddin announced the results after the vote count.

A total of 71 members cast their ballots out of 84 eligible voters. Some 14 candidates contested 11 executive committee posts, while the presidency was decided uncontested.

The newly elected executive committee also includes Md Jahedul Haque, Taslim Uddin, SM Nurun Nabi, Md Ferdous Wahid, Obaida Asadi, Hosainul Arefin and AKM Saifullah Sayeed.

The election was originally scheduled for October 25 last year but was postponed after the then Election Board resigned.

Listed textile manufacturer Paramount Textile has decided to convert its Tk293 crore investment in subsidiary Dynamic Sun Energy Pvt. Ltd, a 100MW solar power project, into preference shares as part of restructuring its investment.

According to a stock exchange disclosure, Tk200 crore will be converted into convertible non-redeemable preference shares, while the remaining Tk93 crore will be converted into non-convertible redeemable preference shares.

The company said it had made substantial investments in Dynamic Sun Energy, in addition to its equity contribution, to develop the solar project. Paramount Textile holds a 60% stake in the subsidiary.

Under the restructuring, the Tk200 crore investment will be converted into preference shares with a face value of Tk10 each, carrying an annual dividend of 9%. These shares can be converted into ordinary shares within five years from the date of allotment.

The remaining Tk93 crore will be converted into non-convertible redeemable preference shares with the same 9% annual dividend and will be redeemed within five years.

Preference shares generally provide investors with fixed dividend income. Convertible non-redeemable preference shares can be exchanged for ordinary shares but do not have a fixed redemption date, while non-convertible redeemable preference shares cannot be converted into equity and are repaid after a specified period.

The investment restructuring comes as Paramount Textile continues to diversify into renewable energy. Besides Dynamic Sun Energy, the company has investments in associate Paramount BTrac Energy Ltd, a 200MW HSD power plant.

In March this year, it also decided to invest Tk29 crore in Paramount Solar Limited by acquiring a substantial stake in the company.

Despite weaker sales, Paramount Textile has maintained profitability this fiscal year.

During the first nine months of FY26, its revenue fell more than 15% year-on-year, while net profit edged up to Tk96.81 crore from Tk96.41 crore a year earlier.

The company said operating profit declined 14% because of lower revenue. However, a 250% surge in profit from associate companies to Tk36 crore and a 631% increase in other income to Tk10.81 crore offset the decline.

In the January-March quarter, revenue dropped 30% to Tk245.71 crore. Although operating profit fell 25%, quarterly net profit rose 6% to Tk52.65 crore, supported by Tk15.79 crore in earnings from associate companies.

For FY25, Paramount Textile posted a net profit of Tk116.06 crore with earnings per share of Tk6.48 and declared a 12% cash dividend for shareholders.

Trade in goods between the European Union and the US reached a record €875 billion ($1.00 trillion) last year despite tariffs, but the figures mask significant economic damage, notably to Germany’s auto sector, a study published on Friday found.

The research by the German Economic Institute, or IW, found a 7.7 percent rise in EU exports to the US to €580 billion, while US imports into the EU climbed 2.2 percent to €295 billion, pushing the EU’s trade surplus to nearly €285 billion.

The report attributed some of the increase to front-loading of exports ahead of tariffs that took effect in April and said European manufacturing had suffered.

“This first impression is misleading,” said IW economist Samina Sultan. EU car and parts exports to the US fell 20.4 percent in 2025, with Germany, which accounts for nearly two-thirds of EU auto exports to the United States, posting an 18.9 percent drop.

Ireland bucked the trend with a 52.7 percent surge in exports, driven by tariff-exempt pharmaceutical and chemical products. Most EU member states recorded a decline in their goods exports to the US. Apart from Ireland only the Czech Republic (+5.1 percent), Italy (+7.2 percent), Denmark (+10.6 percent) and Finland (+10.8 percent) reported growth.

TRANSATLANTIC SERVICES ALSO HIT A RECORD

Transatlantic services trade also hit a record €865 billion, though the EU ran a €178 billion deficit in that category. “The transatlantic trade relationship is therefore much more balanced, when considering both goods and service trade,” the study said, contrasting the EU deficit in services and the surplus in goods.

Intellectual property fees - covering software licences, patents and trademarks - accounted for more than 40 percent of EU service imports from the US, rising 13.7 percent. Although the services sector has so far avoided the impact of US tariffs, the trade conflict has had a negative effect.

EU imports of travel services from the US fell by around 8 percent. “This decline is likely attributable to the reduced number of European tourists in the US last year,” said co-author Galina Kolev-Schaefer.

The study said the Turnberry trade deal between the EU and the US asymmetrically benefited the US, but still it was a workable solution that should be honoured by both sides. “New tariff threats would cause new uncertainty that only hampers business activities on both sides of the Atlantic,” the IW said.

Finance and Planning Minister Amir Khosru Mahmud Chowdhury today (4 July) called on citizens to embrace cashless transactions as part of the government's efforts to build a fully digital economy.

Speaking as the chief guest at a programme titled 'One Country, One QR: Bangla QR for Payments' organised by Pubali Bank PLC's Principal Office in Chattogram, the minister said the government wants to establish a digital ecosystem all types of transactions - from government services to everyday shopping – can be completed online and in real time.

"We are digitising the entire country. Everything will be online," he said. "This will improve transparency in service delivery, reduce corruption and eliminate the need for people to visit government offices repeatedly to access services."

The minister said digitalisation cannot be implemented partially and that all financial transactions must be brought under a unified digital ecosystem to modernise the economy.

"When the entire system becomes digital, every transaction will leave a record, making economic activities more transparent and efficient," he said.

He said a cashless payment system would eliminate the need to carry cash, even in traditional markets, as people would be able to make payments within seconds by scanning QR codes with their smartphones.

"This will remove the hassle of counting cash, carrying change and handling physical money," he added.

Amir Khosru said younger generations, being more familiar with technology, would adapt quickly to digital payments. Although older citizens might initially find the transition challenging, he said cashless transactions would eventually become the easiest and fastest payment method for everyone.

Referring to global trends, the minister said many advanced economies are rapidly moving towards cashless payment systems.

Recalling his recent visit to China, he said cash transactions have become increasingly uncommon there, with QR code-based payments now dominating everyday transactions.

Bangladesh is moving in the same direction, he added.

Speakers at the programme said Bangladesh Bank has introduced the interoperable Bangla QR payment system nationwide under its "One Country, One QR" initiative to reduce reliance on cash.

The platform allows customers to make payments by scanning a single QR code using the mobile application of any participating bank or mobile financial service (MFS) provider.

According to the organisers, Bangla QR enables customers to pay bills directly from their bank or MFS accounts without paying any additional charges. The service is being expanded gradually across businesses nationwide in line with Bangladesh Bank's directives.

The programme was chaired by Mohammad Abdur Rahim, general manager of Pubali Bank PLC's Principal Office in Chattogram. Senior officials of the bank, business leaders, prominent citizens and representatives of the print and electronic media also attended the event.

Vietnam’s economy expanded at a forecast-busting 8.4 percent in the second quarter, according to official data Friday, as it overcame import disruptions and higher fuel costs stemming from the Iran war.

The country has long been a success story among Asian economies, and its communist government is targeting double-digit expansion over the next five years.
The April-June on-year growth -- released by the General Statistics Office -- was far better than the 7.0 percent estimated in a survey by Bloomberg and an acceleration from the previous quarter’s 7.9 percent.

The economy expanded eight percent last year, making it one of the best performers in the world despite being hit with tariffs from its largest export market, the United States.

Growth for the first half of 2026 came in at 8.2 percent thanks to a strong performance in its manufacturing and construction sectors.

Standre Bezuidenhout, at law firm DFDL, said the country “has been curiously effective at turning geopolitical and supply-chain shifts into investment opportunities”.

Vietnam was “attracting manufacturing, deepening trade integration, and building a reputation as a reliable capital destination”, he said.

The country’s “ability to outperform expectations at a time when many economies are revising growth projections downward” suggests it is “increasingly becoming a beneficiary of global uncertainty, rather than a victim of it”, he added.

Exports in January-June jumped 21 percent to hit $266.52 billion, while foreign investment for the same period jumped 61 percent to $34.65 billion.

The World Bank upgraded Vietnam to an upper-middle-income country this week, citing strong sustained growth.

The country's premier bourse, the Dhaka Stock Exchange (DSE), extended its winning streak last week as the benchmark index hit a 22-month high, fueled by a massive surge in trading activity and renewed investor confidence.

The DSEX, the broad index of the Dhaka bourse, gained 91 points or 1.6% to settle the week at 5,743, its highest level since late 2024.

Market participation saw a dramatic spike, with the daily average turnover jumping by 51% to reach Tk1,433 crore, compared to Tk949 crore in the previous week. On the final day of the fiscal year, turnover even crossed the Tk1,500-crore mark for the first time in two years, indicating a robust return of liquidity to the secondary market.
According to the weekly market review by EBL Securities, the benchmark index reverted to its gaining streak as sentiment remained buoyed by improving market outlook expectations and easing geopolitical concerns. A major catalyst for the rally was the approval of the Finance Bill 2026, which included supportive policy measures and preserved tax rebate opportunities for capital market investors, significantly enhancing the appeal of equities.

The week commenced on a firm footing, with the DSEX surpassing the crucial 5,700-mark after nearly 22 months. This momentum was sustained by broad-based accumulation in perceived undervalued scrips. Although the market faced a mild correction in the final session of the week due to profit-booking after six consecutive days of gains, analysts noted that participation remained resilient on both sides of the trading fence, EBL Securities added.

The blue-chip segment also mirrored the positive trend, with the DS30 index rising by 30 points to close at 2,162. Out of the 391 issues traded during the week, 272 advanced, 90 declined, and 29 remained unchanged.

Sector-wise participation showed that investors were most active in the textile sector, which accounted for 13.7% of the total turnover, followed by the banking sector at 12.2% and pharmaceuticals at 11.6%.

In terms of returns, the jute sector led the gainers with a 6.6% increase, followed by the information technology (4.7%) and ceramic (4.6%) sectors.

Individual stock performance was highlighted by Usmania Glass, which emerged as the top gainer with a 29.7% price surge. Other notable gainers included Shyampur Sugar (29.5%) and Zeal Bangla Sugar (24%). On the flip side, BD Thai Aluminium was the top loser, shedding 10%, followed by BD Thai Food and Associated Oxygen.

Farmers harvested a record 1.73 crore tonnes of rice during the last Aman season as they expanded the cultivation of high-yielding and hybrid seed varieties.

Recorded in fiscal year 2025-26, the rain-fed crop was grown on 57.36 lakh hectares, which was 2.19 percent higher year-on-year, according to production estimates released recently by the Bangladesh Bureau of Statistics (BBS).

The acreage under broadcast and local rice varieties cultivated during the rainy season declined. However, the area under inbred, or high-yielding varieties (HYVs), which account for most of the Aman acreage, increased by 3 percent year-on-year to 46.50 lakh hectares in fiscal year 2025-26.

Hybrid rice acreage grew by 5 percent year-on-year to 3.62 lakh hectares.

"Favourable weather, the use of improved seeds and the proper application of fertiliser have given a boost to Aman production," the BBS said.

Aman rice accounts for roughly 40 percent of annual rice production. Overall output increased by 5.11 percent this year to 1.73 crore tonnes from 1.65 crore tonnes a year earlier, also because of higher yields per hectare.

The surge in rice production during the latest Aman season offset the decline in Aus production in fiscal year 2025-26. Aus, the smallest contributor to rice production, declined by 3 percent, mainly due to reductions in both acreage and yield.

The BBS data showed that total rice production during the Aus and Aman seasons grew by 4 percent year-on-year to 2 crore tonnes.

The agency is yet to release its estimate for Boro, the largest rice crop, harvested during the May-June period of 2026.

In April, the US Department of Agriculture, in its Grain and Feed report on Bangladesh, forecast a marginal decline in Boro production due to lower yields caused by disruptions to irrigation and fertiliser application resulting from fuel and fertiliser shortages.

Gulf oil exports in June jumped more than 3 million barrels from May to exceed 10 million barrels per day as the US military helped to keep oil flowing through the Strait of Hormuz, data showed, though exports remained 40 percent below pre-war levels.

The United Arab Emirates led the recovery, allowing millions of barrels of crude stranded in the Gulf to reach international markets, enabling producers to raise output and lower oil prices to pre-conflict levels.

Combined crude and condensate exports from Saudi Arabia, the UAE, Kuwait, Iraq and Iran rose by more than 3.5 million bpd from May to 10.07 million bpd, Kpler data shows. Vortexa, another cargo analytics company, estimated June flows at 10.2 million bpd, up from 7 million bpd in May but still way short of the 16.5 million bpd a year earlier. Since the June 17 agreement between the US and Iran to halt the conflict and restore shipping through the Strait of Hormuz, the backlog of crude stranded in the Gulf cleared more quickly, leaving about 23 million barrels still to transit the waterway, said Kpler analyst Johannes Rauball. Floating storage in the strait had peaked at 96 million barrels in late April, he added.

UAE exports reached a record 3.7 million to 3.8 million bpd in June, Kpler, Vortexa and LSEG data showed, more than 1 million bpd above May levels. Ship broker BRS said 98 tankers crossed the strait between June 22 and June 28, about 14 a day and the highest since the conflict began. The traffic included 47 laden outbound tankers and 41 ballast vessels entering the Gulf, indicating ship owners are increasingly willing to send vessels into the region.

Saudi crude exports rose by 768,000 bpd to 4.52 million bpd in June, according to Kpler. Exports averaged about 6.3 million bpd last week, close to January levels, as Riyadh boosted loadings from Ras Tanura. During the conflict, Saudi Arabia and the UAE diverted some exports through pipelines bypassing Hormuz, an option largely unavailable to Iraq and Kuwait. ADNOC also used a tanker shuttle service to help to sustain exports.

Exports from Iraq and Kuwait recovered to about 800,000 bpd each, Vortexa data showed. Kuwait raised output sharply in June to 1.65 million bpd, a source told Reuters. Iran raised exports by more than 70 percent in June to 640,000 bpd as the US blockade eased, Vortexa said.