Government employees will receive arrears under the new pay scale for the period between July 1 and the date of the issuance of the official order, according to a finance ministry gazette notification.

The Ministry of Finance issued the circular on September 17, implementing the National Pay Scale 2026 retrospectively from July 1.

This follows the government’s approval on August 31 of the largest pay hike for the civil service since independence, which doubled the basic salary of top officials and raised the lowest pay by a record 142 percent.

According to the order, the basic salary adjustments under the new pay scale will unfold in phases.

For employees in Grades 10 to 20, 50 percent of the total basic salary increase -- the difference between the 2026 scale and their existing basic pay -- will be added to their basic salary drawn on June 30, 2026, for the period from July 1 to December 31.

They will receive 75 percent of the increase from January 1, 2027, to June 30, 2027, and 100 percent of the new pay scale alongside annual increments from July 1, 2027.

For officials in Grades 1 to 9, 40 percent of the total basic salary increase will be disbursed from July 1 to December 31, 2026. This will rise to 70 percent from January 1, 2027, with the full 100 percent salary adjustment coming into effect from July 1, 2027.

All other allowances will continue to be paid at the existing rates drawn as of June 30, 2026, until December 31, 2027. The revised allowance rates specified in the new order will take effect on January 1, 2028.

Prior to this update, the last national pay scale was introduced in 2015, marking the highest hike until now, with basic pay rising by 95 percent in the top grade and 101 percent in the lowest.

Bangladesh Bank (BB) has fixed the maximum interest rate at 7.0 per cent for loans under the Tk200 billion pre-refinance scheme aimed at reopening closed industrial and service sector enterprises.

The central bank also introduced a six-month grace period on loan disbursements, during which no interest can be collected from borrowers.

The directive was issued through a circular on Thursday, reports UNB.

It specifies that the recovery of interest, including the accrued interest from the first two quarters, will commence only after the six-month grace period ends.

This circular follows two previous directives issued on June 4 and July 7, which established the "Closed Industrial and Service Sector Support Pre-Refinance Scheme" and laid down its policy framework.

Under the updated guidelines, the term "Large Industry" used in prior circulars has been replaced simply with "Industry." This adjustment widens the scope of financing under the scheme beyond large industries to include other eligible industrial enterprises.

According to Bangladesh Bank's instructions, participating commercial banks will receive pre-refinance facility from the central bank at an interest rate of 4 percent.

However, banks will not have to pay any interest during the initial six-month grace period.

Following the grace period, banks must settle interest payments to Bangladesh Bank on a quarterly basis, including the accumulated interest from the first two quarters.

Similarly, at the end-user level, the maximum interest rate charged by banks to borrowers cannot exceed 7.0 per cent. Borrowers will enjoy a complete exemption from interest payments during the six-month grace period, after which banks will collect regular interest along with the accrued balance from the initial two quarters.

Application Flexibility:

The central bank has eliminated rigid application deadlines for the scheme. Eligible enterprises can apply for pre-refinance facilities at any point during the scheme's three-year tenure, subject to fund availability.

This ensures that enterprises unable to apply at the onset of the scheme retain the opportunity to seek funding later if liquidity remains available.

Bangladesh Bank highlighted that the primary objective of the BDT 20,000 crore fund is to restore production and operational activities in long-closed industrial and service sector units.

Bangladesh Jewellers Association (BAJUS) has raised gold prices again, increasing the price of 22-carat gold by Tk1,691 per bhori to Tk2,34,621, including VAT.

BAJUS announced the new prices in a notice today, saying the price of tejabi gold (pure gold) had increased in the local market. Considering the overall market situation, the association revised the prices, which came into effect from 10am today (19 September).

Under the new rates, one bhori (11.664 grammes) of 21-carat gold has been set at Tk2,24,065 per bhori, 18-carat gold at Tk1,92,398 and traditional-method gold at Tk1,57,172.

BAJUS said the new prices will remain effective at all jewellery shops until further notice. However, labour charges will apply depending on the design of the jewellery.

As VAT is included in the selling price of gold and silver jewellery, jewellers cannot collect VAT separately from customers. BAJUS's previous rules will remain in place for jewellery exchange and purchase, excluding specified VAT, labour charges and the price of stones.

BAJUS last adjusted gold prices on 12 Sept, when it raised the price of 22-carat gold by Tk1,050 per bhori to Tk2,32,930, including VAT.

So far in 2026, gold prices in the country's market have been adjusted 116 times. Prices have been raised on 58 occasions, lowered on 57 occasions, and VAT adjusted once.

Meanwhile, silver prices have also been increased. The price of 22-carat silver has been raised by Tk116 per bhori to Tk5,132, including VAT.

The price of 21-carat silver has been set at Tk4,957 per bhori, 18-carat silver at Tk4,257 and traditional-method silver at Tk3,208.

Silver prices have been adjusted 70 times so far in 2026, with prices increased on 36 occasions and reduced on the remaining 34 occasions.

Bangladesh and Turkey have discussed ways to expand bilateral cooperation in the energy sector, particularly in renewable energy, mineral resources and LNG-related infrastructure.

The discussions also covered pipeline connectivity linking Bangladesh's offshore and island facilities with the mainland.

The issues were discussed at a recent meeting between Turkey's Energy and Natural Resources Minister Alparslan Bayraktar and Bangladesh Ambassador to Turkey M Amanul Haq at the Ministry of Energy and Natural Resources in Ankara.

According to the Bangladesh Embassy, the two sides explored potential areas of practical cooperation in the energy and mineral resources sectors and discussed opportunities to further strengthen bilateral collaboration.

During the meeting, Ambassador Haq handed over an invitation letter from Bangladesh Foreign Minister Khalilur Rahman, inviting Minister Bayraktar to visit Bangladesh at a mutually convenient early date.

Baraktar warmly accepted the invitation and expressed his intention to visit Bangladesh by the end of this year.

The Turkish Minister also instructed his officials to prepare a Memorandum of Understanding (MoU) for signing at the next possible opportunity, the Bangladesh Embassy said.

Ambassador Haq also handed over a proposed draft MoU between Bangladesh's Ministry of Power, Energy and Mineral Resources and Turkey's Ministry of Energy and Natural Resources, aimed at establishing a framework for enhanced bilateral cooperation in the energy sector.

The meeting was attended from the Bangladesh side by Deputy Chief of Mission Shahanoor Alam and Commercial Counsellor Akram Hossain of the Bangladesh Embassy in Ankara.

Senior officials from Turkey's Ministry of Energy and Natural Resources also attended the meeting.

The Federal Reserve yesterday (16 September) raised interest rates by 0.25 percentage points from 3.50-3.75% to 3.75-4.00% as inflation has become a concern. With this rate hike, the Fed aims to reduce borrowing and spending, cool demand, and bring inflation under control.

Inflation in the USA remains above the Federal Reserve's 2% target. As of July 2026, inflation was 3.7%. Higher energy prices, import tariffs, and strong investment and demand have continued to push prices higher.

With higher interest rates, loans are expected to become more expensive for households and businesses. This generally discourages consumption and investment and gradually eases price pressures.

Although the Fed raised US interest rates, its impact extends to the global economy through multiple channels. Higher rates make dollar-denominated investments more appealing, which encourages international investors to shift funds to the USA. This increases demand for dollars and strengthens the dollar, while currencies in developing countries come under downward pressure.

For governments and companies, borrowing dollars also becomes more expensive. Developing countries that seek new international financing may have to accept higher interest rates. Their repayment conditions could also become more difficult. Countries with large external debts, limited foreign-exchange reserves, or high levels of short-term borrowing are more likely to face increased pressure.

Global commodity markets may have an indirect impact. If rising US interest rates curb worldwide economic growth, demand for oil and other commodities could fall, lowering prices. This might benefit import-dependent countries like Bangladesh.

However, this relief remains uncertain because geopolitical tensions, conflicts, and supply disruptions can still affect global energy prices.

Besides, a stronger US dollar might offset some declines in international commodity prices. Since Bangladesh pays for most imports in dollars, a weaker taka could limit the benefits of moderate drops in oil, gas, fertiliser, or food prices for Bangladeshi consumers and businesses. The overall impact will hinge on changes in global commodity prices and the USD/BDT exchange rate.

In Bangladesh, a key issue is the increased pressure on the Bangladeshi Taka (BDT). A stronger dollar would raise the local cost of imported fuel, food, fertiliser, machinery, and industrial raw materials.

This could lead to higher inflation, increased production costs, and reduced household purchasing power. Businesses that rely heavily on imported inputs may face profitability challenges and may pass some of these costs on to consumers.

In such situations, Bangladesh Bank may feel compelled to sell dollars from its foreign-exchange reserves to curb excessive exchange-rate volatility. Some intervention may be necessary to prevent disorderly swings and sudden market instability.

However, consistently drawing on reserves to keep the exchange rate artificially stable is unsustainable. The BDT should be allowed to adjust gradually and transparently in line with market conditions. A credible exchange-rate system helps reduce uncertainty for importers, exporters, foreign investors, and remittance senders.

Bangladesh's external debt costs could rise as USD interest rates increase. Government agencies and private companies with variable-rate or dollar-denominated loans could face higher interest payments. Additionally, if the taka depreciates, repayment costs will rise further, as borrowers will need more taka to buy each dollar.

New foreign borrowing for infrastructure, power, energy, and private investment could become more expensive. Therefore, projects should be selected carefully. Foreign loans should be directed to economically viable projects that can generate sufficient economic returns or foreign exchange earnings. Projects with poor financial prospects could strain the budget and external debt repayment obligations.

The USA is the biggest market for Bangladesh's ready-made garments (RMG). If high interest rates curb US consumer spending, demand for clothing and other non-essential products might decline. Bangladeshi exporters could see fewer orders, face increased pressure from buyers to lower prices, and experience thinner profit margins. Smaller factories, with less ability to absorb rising financing, energy, and input costs, may be especially at risk.

However, a quarter-percentage-point hike alone probably would not lead to a sharp drop in garment demand. The overall effect will depend on factors like the US labour market strength, consumer confidence, inflation, and economic growth.

Bangladesh's competitiveness will also be affected by exchange-rate changes in countries such as Vietnam, India, China, and Pakistan. If their currencies depreciate faster than the taka, Bangladeshi exporters may face increased competition.

As a remittance-receiving country, Bangladesh may also feel the impact. However, the impact on remittances could be mixed. A stronger dollar boosts the taka value of remittances for Bangladeshi families, supporting household spending.

Still, formal remittance inflows will remain robust only if banks offer competitive exchange rates and the gap between formal and informal rates stays narrow. The government must encourage migrant workers to use official channels through transparent, market-driven exchange rates, faster transfer services, and lower costs.

As far as investment is concerned, higher returns on safer US assets might make foreign investors more cautious about Bangladesh, though significant portfolio outflows are unlikely. Investment decisions are strongly influenced by challenges such as energy shortages, regulatory uncertainty, exchange-rate risk, and difficulties repatriating profits.

These internal limitations may matter more than short-term portfolio shifts. Therefore, Bangladesh must strengthen its domestic investment environment, which is particularly crucial now.

Bangladesh Bank decreased policy rates on 30 July 2026 by 50 basis points, from 10% to 9.5%. This move aimed to bolster economic growth, promote private investment, and enhance credit flow following a lengthy period of restrictive monetary policy.

It also reflected concern over sluggish economic activity and subdued private-sector credit growth. Currently, Bangladesh Bank's room to lower domestic interest rates further is limited, given that inflation remains high.

While affordable credit is essential to support investment and employment, hastily lowering rates could weaken the taka, increase dollar demand, and fuel inflation. Therefore, Bangladesh's domestic policy should balance controlling inflation, maintaining exchange-rate stability, safeguarding financial sector health, and ensuring access to productive credit.

Overall, the consequences of the Fed's interest rate hike will depend more on the future path of US rates than on this single increase. Bangladesh should maintain a flexible, stable exchange rate, safeguard reserves, promote remittances through formal channels, restrict costly foreign borrowing, and monitor companies' foreign-currency risk.

At the same time, stronger fiscal discipline, better debt management, and improved banking governance are essential. In the medium term, Bangladesh needs to diversify exports and markets, enhance energy security, boost productivity, and increase investor confidence. These actions would help the economy withstand higher US interest rates and future external shocks.

Fahmida Khatun is a distinguished fellow at the Centre for Policy Dialogue (CPD).

US factory production unexpectedly fell in August and higher oil prices and rising interest rates could offset some of the support from an artificial intelligence buildout, likely keeping activity moderate for the rest of the year.

The decline in output, reported by the Federal Reserve on Friday, followed seven straight months of increases. The US central bank on Wednesday raised interest rates for the first time in three years and flagged further increases in borrowing costs in the months ahead. Oil prices are hovering above $100 a barrel with no end in sight to the US-Israeli war with Iran.

"Looking ahead, we think manufacturing output will rise a little further over coming months, but will fail to match the pace set in the first half of this year," said Samuel Tombs, chief US economist at Pantheon Macroeconomics.

"Some manufacturers likely will find that demand softens as they pass on higher energy prices to consumers."

Manufacturing output dropped 0.3 percent last month following an unrevised 0.2 percent rise in July. Economists polled by Reuters had forecast production would increase 0.3 percent. Output advanced 0.9 percent on a year-over-year basis in August, a modest increase that, according to some economists, indicated the Trump administration's aggressive trade policy had not had the desired effect of rejuvenating the nation's industrial base.

Production in the sector, which accounts for about 9.4 percent of the economy, received a boost in prior months as businesses rushed orders to avoid shortages and higher prices from the escalation of the war in the Middle East.

The decline in August was led by a 0.5 percent drop in the production of long-lasting manufactured goods. Motor vehicles and parts production decreased 1.2 percent, notching a second straight monthly decline. Output of computers and peripheral equipment fell 1.4 percent, but was up 5.5 percent on a year-over-year basis.

Production of communications equipment increased 0.8 percent. Though the output of semiconductors and related electronic components dipped 0.1 percent, this category was up 12.4 percent from a year ago.

The AI spending spree has cushioned the blow from import tariffs on manufacturing. Some economists are still betting on a strong manufacturing performance this year, despite a sharp rise in longer-dated US Treasury yields in recent weeks and the Fed's decision to raise its benchmark overnight interest rate by 25 basis points to the 3.75 percent-4.00 percent range.

POSSIBLE TAILWIND FROM HIGHER DEFENSE SPENDING

"We still look for manufacturing activity to pick up through next year, and the AI infrastructure buildout is a key reason for our sanguine outlook," said Bernard Yaros, lead U.S. economist at Oxford Economics. "The demand case for AI still seems strong enough to shrug off higher-for-longer rates and increased geopolitical risk. Greater defense spending will also act as another tailwind."

Restocking by businesses that have run down inventories for five straight quarters to meet robust demand could also provide a lift to manufacturing, though some economists argued that trend could be overshadowed by the drag from rising costs.

Production of nondurable goods was unchanged after falling 0.4 percent in July. Rises in output at textile mills as well as for apparel and leather products were offset by declines in the production of plastics and rubber goods, and petroleum and coal.

"Factory output shows the first signs of a slowdown which could worsen if the geopolitical headwinds intensify and diesel fuel prices do not come back down," said Christopher Rupkey, chief economist at FWDBONDS. "Soaring energy prices are costly for industry and higher diesel prices may start to chip away at the manufacturing renaissance picture painted by White House economic officials."

Mining production edged up 0.1 percent last month, matching the rise in July. Oil and gas well drilling increased 0.9 percent after accelerating by 5.2 percent in July.

Utilities production shot up 1.8 percent after climbing 0.5 percent in July. Overall industrial production was unchanged last month after gaining 0.2 percent in July. Industrial output advanced 1.4 percent on a year-over-year basis in August.

Capacity utilization for the industrial sector, a measure of how fully firms are using their resources, was unchanged at 76.3 percent in August. It is 3.1 percentage points below its 1972–2025 average.

The operating rate for the manufacturing sector fell 0.3 percentage points to 75.7 percent. It is 2.5 percentage points below its long-run average.

"There is no evidence here that tariffs or anything are generating an influx of new jobs in manufacturing and industry," said Carl Weinberg, chief economist at High Frequency Economics.

The number of millionaire accounts in Bangladesh's banking sector continues to rise despite the country's ongoing economic slowdown and sluggish business environment.
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The number of millionaire accounts increased by 5077 in the April-June quarter (Q2) of the current year in comparison with the previous quarter, according to the latest report published by Bangladesh Bank (BB).

According to the central bank data, the number of millionaire accounts in the banking sector reached 141,562 at the end of June this year while the figure was 136,485 at the end of March.

Earlier, the number of millionaire accounts was 134,044 at the end of December last year.

The total number of bank accounts stood at 182.61 million (182,612,015) at the end of March this year, the central bank data revealed.

By the end of June, the figure stood at 186.38 million (186,384,588).

Thus, the total number of bank accounts increased by over 3.77 million (3772573) in three months.

According to the BB data, the total balance of deposits held in the banking sector stood at Tk 21.58 trillion at the end of March this year while the amount rose to Tk 22.10 trillion.

Accordingly, bank deposits increased by Tk 524.19 billion during the three-month period.

Apart from the rise in the number of accounts holding at least Tk 10 million, the amount of money deposited with the accounts also increased.

At the end of March this year, the balance of deposits with at least Tk 10 million accounts holding stood at Tk 8.59 trillion.

By the end of June, the balance reached Tk 8.76 trillion, the central bank figure showed.

Accordingly, the amount deposited with at least Tk 10 million accounts increased by Tk 164.98 billion in three months.

People familiar with the development said an account holding Tk 10 million or more does not necessarily belong to a millionaire individual.

The list of accounts holding more than Tk 10 million includes many organisations as well as individuals.

Moreover, there is no specific limit on the number of bank accounts that an individual or organisation can open. As a result, a single individual or organisation may hold multiple bank accounts.

The list also includes accounts holding at least Tk 10 million belonging to various government institutions and agencies.

South Korea’s SK Hynix is in talks with Intel about a deal that would see it manufacture memory chips on US soil for the first time, three people familiar with the discussions said.

Under one potential scenario, SK Hynix would lease part of Intel’s long-planned chipmaking facility in Ohio, they said.
Under another scenario, it could form a venture with Intel and major cloud firms that are keen to lock in memory chip supplies, two of the people said.

A deal would relieve pressure on Intel, which has been struggling, and mark a big win for the Trump administration, which has been ramping up pressure on chipmakers to build in the United States as relentless investment in AI and data centres fuels an acute shortage of memory chips.

But potential opposition from Seoul could be a major hurdle, the sources said.

One of the sources described the talks as exploratory and stressed that no decisions have been made, adding that SK Hynix might also consider other ways to structure the deal.

Details about how a SK Hynix-Intel deal might be structured are being reported for the first time.

Reuters was, however, not able to learn what types of chips SK Hynix may manufacture in Ohio if an agreement is struck.

Its product lineup includes DRAM (dynamic random-access memory) chips used in servers, PCs and smartphones and NAND flash memory chips that provide long-term storage memory.

It is also the leading supplier of high-bandwidth memory (HBM) used in AI processing units.

Any agreement to produce advanced memory such as HBM or even DRAM could run into opposition from the South Korean government as those technologies are considered sensitive, said the three sources who declined to be identified as the information is not public.

SK Hynix said in a statement to Reuters that it is “reviewing various measures, including establishing additional production bases, to strengthen the competitiveness of its memory business,” but “no matters have been determined at this stage.”

Intel declined to comment on what it called speculation, but added that it was continuing with investments in Ohio to ready the site.

Asked about a potential SK Hynix plan to produce chips in the US, South Korea’s trade ministry said any decision would be at the company’s discretion but if it involved a “national core technology,” it would be subject to a review under the Industrial Technology Protection Act.

The US Commerce Department did not respond to a request for comment.

Manufacturing semiconductors in the US costs much more than in South Korea, according to two of the sources.

Building in the United States entails significantly higher labour and construction costs, and much of the semiconductor industry’s supply chain is located within Asia, which also increases US costs, one of them said.

Even so, SK Hynix, which recently completed a secondary listing on the Nasdaq in July and currently only has a chip packaging facility under construction in Indiana, has good reasons to pursue fabricating chips in the United States.

Chey Tae-won, chairman of the SK Group conglomerate that SK Hynix is part of, said in July that the company faces enormous pressure and lobbying from customers and countries to supply more chips.

“I think we need to build a factory in the United States. If possible, I believe we should build it,” he told reporters.
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A deal with SK Hynix would also ease some of the financial strain on Intel, which is part-owned by the US government.

Intel announced in 2022 that it would invest up to $100 billion to build potentially the world’s largest chipmaking complex in Ohio, with production scheduled to begin in 2025.

But completion of the site’s two plants has since been delayed to 2030 and 2031.

Pleasing both Washington and Seoul could be tough, however, particularly as SK Hynix and rival Samsung Electronics have been urged by the Seoul to accelerate plans to build a new cluster of chipmaking facilities in South Korea’s southwest.

US Commerce Secretary Howard Lutnick has threatened to impose up to 100 percent tariffs on South Korean and Taiwanese companies unless they commit to increased production on American soil.

Both countries have also been wrangling over the execution of a huge investment commitment that South Korea made to the US last year in return for lower US tariffs.

Some $150 billion of a proposed $350 billion has been earmarked for shipbuilding but the remaining $200 billion is undecided.

Two of the sources said this has left SK Hynix in a difficult position, with the South Korean government seeking to use any US investment by SK Hynix as leverage in the talks, and Washington heaping pressure on the firm to quickly commit to a US expansion.

Oil prices fell on Wednesday as reports that Saudi Arabia was offering additional crude cargoes via Oman eased concerns about the scale of Middle East supply disruptions.

Brent crude futures were down 83 cents, or 0.76 percent to $107.92 a barrel at 0801 GMT, while US West Texas Intermediate futures were down $1.41, or 1.33 percent at $104.42 a barrel.

In the previous session, oil prices settled more than $3 higher after shipping industry sources said crude loadings at Saudi Arabia’s Red Sea export hub of Yanbu had been suspended and Riyadh had cancelled some cargo deliveries to European customers, deepening concerns that disruptions to a critical export route could persist for weeks.

However, Saudi Arabia is offering more loadings of crude oil to Asian refiners via ship-to-ship transfer off Oman’s Sohar port after drone attacks damaged its key oil pipeline to the Red Sea, people familiar with the matter said.

“News around Saudi Arabia exporting from the Gulf suggests concerns that the disruption could be larger are easing,” said UBS analyst Giovanni Staunovo.

Visible vessel transits through the Strait of Hormuz remained in the single digits at four on Tuesday, down from seven a day earlier, preliminary shipping data showed on Wednesday. That was well below the 10-day average of 18.

The waterway handled a fifth of the world’s oil and liquefied natural gas supply before the US-Israeli war on Iran began in late February.

Macquarie analysts said flows of crude, condensate and refined products through the Strait of Hormuz had remained resilient despite escalating hostilities in the region and may have risen to more than 7.5 million barrels per day since fighting resumed on August 30. They said the link between developments in the strait and oil flows had weakened.

Citi expects near-term escalation in the Middle East to continue supporting crude oil and refined fuel prices before the Strait of Hormuz eventually reopens in the fourth quarter of 2026 with support from regional diplomatic efforts, the bank said in a note.

European diesel futures settled at a record high and rose to their highest intraday level since April on Tuesday, underscoring tightness in fuel markets as Middle East disruptions constrained crude and product flows.

“I would expect, unless there is a peace deal or an improvement in the situation in Russia, that diesel prices stay supported,” Staunovo said.

US INVENTORIES WEIGH

Separately, US crude oil, gasoline and distillate inventories all rose last week, market sources said on Tuesday, citing data from the American Petroleum Institute.

Crude inventories rose by 7.1 million barrels in the week ended September 11, the sources said, citing API data. That compared with analysts’ expectations for a draw of about 1.6 million barrels, according to a Reuters poll.

API’s data showed unexpected increases in gasoline and diesel inventories have weighed on prices, but regional stock increases do not change the underlying tightness in the global crude market, Haitong Futures said in a note.

Gold prices ticked up on Wednesday as oil prices eased, while market participants looked ahead to the US Federal Reserve’s policy decision, with a rate hike largely priced in.

Spot gold was up 0.8 percent at $4,326.83 per ounce, as of 0650 GMT, after touching a more than one-month low on Monday.

US gold futures for December delivery were down 0.8 percent at $4,367.20.

“A hawkish Fed could pull gold down, while any soft messaging may ease bets on hikes and help the metal recover. Traders are also monitoring oil prices and developments in the Middle East,” said Frank Walbaum, a market analyst at trading platform Naga.com.

Gold is often seen as an inflation hedge, but higher rates increase the opportunity cost of holding non-yielding bullion. Oil prices fell after an unexpected buildup in US crude inventories, while investors assessed supply risks after Saudi Arabia suspended oil loading at its Yanbu port.

Traders are pricing in a 92.7% chance of at least a 25-basis-point US rate hike later in the day, according to CME FedWatch.

The policy decision will be followed by a press conference from Fed Chair Kevin Warsh.

On the geopolitical front, Saudi Arabia’s air defences destroyed a Houthi drone south of Mecca before it entered prohibited airspace over the holy city, a spokesperson for the Saudi-led military coalition in Yemen said, as fighting spreads in the Middle East.

Commerzbank said it was somewhat surprising that gold prices had not come under greater pressure so far.

It noted that gold’s resilience may be supported by persistent fiscal concerns, reflected in elevated long-term government bond yields, as well as a recent rise in US political risks.

Among other metals, spot silver rose 1.5 percent to $64.59 per ounce, platinum edged 0.7 percent higher to $1,787.90, while palladium gained 2.2 percent to $1,317.50.

The Moscow Chamber of Commerce and Industry has expressed interest in forming a joint Russia-Bangladesh business council to strengthen trade, investment and economic cooperation between the two countries.

The Russian side also wants to organise a Russia-Bangladesh business forum in Moscow to facilitate direct business-to-business contacts between entrepreneurs from the two countries.

Alexander Grigoryevich Khozin, Russian ambassador to Bangladesh, conveyed the proposals during a meeting with Md Fazlul Hoque, administrator of the Federation of Bangladesh Chambers of Commerce and Industry, at the federation’s Gulshan office yesterday.

A formal announcement on the proposed business council may come at the meeting of the Intergovernmental Commission, scheduled to be held in Dhaka in early November, Alexander said.

The ambassador said the proposed forum in Moscow would bring Bangladeshi and Russian businesses together for direct B2B meetings and other sessions based on the profiles of participating Bangladeshi entrepreneurs.

At the meeting, Fazlul urged both sides to look beyond the readymade garment sector and explore new areas of trade.

He particularly highlighted pharmaceuticals, leather and leather goods, jute and jute products, ceramics and the export of manpower to Russia.

Alexander said Russia’s health ministry was already reviewing procedural and legal issues related to importing generic medicines from Bangladesh.

He also said there was good demand in Russia for heavy footwear and leather goods suitable for its harsh winter.

Russia has issued visas to around 3,000 Bangladeshi workers in recent months as employment opportunities have emerged in agriculture, fisheries, shipbuilding and the services sector, he informed.

The two sides also discussed the progress of the Rooppur Nuclear Power Plant project.

Around 4,000 Russian specialists and engineers are working to resolve technical issues related to the project, Alexander said.

He said work was progressing with the aim of supplying the first 300 megawatts of electricity to the national grid by next month.

Both sides expressed hope that greater cooperation between the government and private sectors would help strengthen commercial ties between Bangladesh and Russia.

SRI LANKA INVITES BANGLADESHI DELEGATION TO ATTEND FAIR

Meanwhile, Dharmapala Weerakkody, Sri Lankan high commissioner to Bangladesh, held a separate meeting with the FBCCI administrator yesterday.

He said the international trade fair Sri Lanka Expo 2027 would be held in Colombo from January 14 to 17 next year.

The Sri Lankan envoy invited a Bangladeshi business delegation, led by the FBCCI, to participate in the fair.

Hoque responded positively to the proposal to send a delegation to the expo.

Md Alamgir, secretary general of FBCCI, along with officials from the Russian Embassy and the Sri Lankan High Commission, attended the respective meetings.

মধ্যপ্রাচ্যে চলমান সংঘাত ও গুরুত্বপূর্ণ জ্বালানি পরিবহন রুটে নিরাপত্তা ঝুঁকির মধ্যে সৌদি আরবের ইস্ট-ওয়েস্ট পাইপলাইন ক্ষতিগ্রস্ত হওয়ায় ইউরোপের কয়েকটি রিফাইনারিতে নির্ধারিত তেল সরবরাহ বাতিল হয়েছে। একই সময়ে হরমুজ ও বাব আল-মান্দেব প্রণালিতে জাহাজ চলাচল কার্যত বন্ধ থাকায় বিশ্ববাজারে অপরিশোধিত জ্বালানি তেলের দাম বেড়েছে। তবে এ পরিস্থিতিতে বাংলাদেশের জন্য এখনই সরবরাহ সংকটের আশঙ্কা দেখছে না জ্বালানি বিভাগ ও বাংলাদেশ পেট্রোলিয়াম করপোরেশন (বিপিসি)। দেশে পর্যাপ্ত মজুদ থাকলেও সংঘাত দীর্ঘায়িত হলে এবং পরিবহন রুটের ঝুঁকি বাড়লে আন্তর্জাতিক বাজারে দাম ও পরিবহন ব্যয় বেড়ে বাংলাদেশের জ্বালানি আমদানি ব্যয়ে বড় চাপ তৈরি হতে পারে বলে আশঙ্কা করছেন সংশ্লিষ্টরা।
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সম্প্রতি সৌদি আরবের বৃহৎ জ্বালানি তেলের ইস্ট-ওয়েস্ট পাইপলাইন ক্ষেপণাস্ত্র হামলায় ক্ষতিগ্রস্ত হওয়ায় ইউরোপের তেল পরিশোধনাগারগুলোতে তেল রফতানি বন্ধ ঘোষণা করেছে। ইউরোপের রিফাইনারিগুলোর জন্য সেপ্টেম্বরে সরবরাহের শিডিউল থাকা বেশকিছু কার্গো এরই মধ্যে বাতিল করা হয়েছে। হরমুজ ও বাব আল-মান্দেব প্রণালিতে জাহাজ চলাচল কার্যত বন্ধ থাকায় ফিউচার মার্কেটে অপরিশোধিত জ্বালানি তেলের (ক্রুড অয়েল) দাম ব্যারেলপ্রতি ১০৮ ডলারের বেশিতে ওঠানামা করছে। পরিস্থিতি আরো অবনতি হলে জ্বালানি তেলের সরবরাহ সংকট এশিয়ার বাজারেও বড় ধরনের নেতিবাচক প্রভাব ফেলবে বলে জানিয়েছে জ্বালানির আন্তর্জাতিক বাজার বিশ্লেষণের পূর্বাভাস দেয়া প্রতিষ্ঠানগুলো।

ইউরোপের বাজারে তেল রফতানি স্থগিত কিংবা কার্গো সরবরাহ বাতিল করলেও বাংলাদেশ সরবরাহ বন্ধ-সংক্রান্ত কোনো বার্তা নেই বলে জানিয়েছেন জ্বালানি বিভাগের কর্মকর্তারা। বরং অপরিশোধিত জ্বালানি যে পরিমাণ আমদানি করা হয়েছে তা দিয়ে আগামী চার মাস কোনো অসুবিধা হবে না বলে জানিয়েছেন তারা।

জ্বালানি বিভাগের মুখপাত্র (যুগ্ম সচিব) মনির হোসেন চৌধুরী বণিক বার্তাকে বলেন, ‘সৌদি জ্বালানি সংকটে আমাদের আমদানি বন্ধ-সংক্রান্ত কোনো বার্তা নেই। আমরা জ্বালানি তেলের বড় অংশ এ অঞ্চল অর্থাৎ চীন, মালয়েশিয়া, সিঙ্গাপুর থেকে সংগ্রহ করি। সৌদি থেকে ক্রুড অয়েল আমদানি করি। এখন পর্যন্ত দুটো জাহাজ আমাদের স্টক রয়েছে, যা দিয়ে আগামী চার মাস ক্রুডের কোনো সমস্যা হবে না। এদিক থেকে আমরা নিশ্চিত রয়েছি।’

সৌদি আরবের তেল সরবরাহ কার্যক্রম বন্ধ থাকলে বাব আল-মান্দেব প্রণালি দিয়ে জাহাজ চলাচলে হুমকি, হরমুজ প্রণালি বন্ধ থাকলে তা জ্বালানি তেলের দাম ব্যাপক হারে বাড়িয়ে তুলতে পারে। এতে জ্বালানি আমদানিনির্ভর দেশ হিসেবে বাংলাদেশ ব্যয় বেড়ে যাওয়ার বড় ঝুঁকিতে রয়েছে বলে জানিয়েছেন জ্বালানি বিশেষজ্ঞরা।

এরই মধ্যে অপরিশোধিত জ্বালানি তেলের বিকল্প উৎস খুঁজছে বিপিসি। বিকল্প সরবরাহকারীদের সঙ্গে আলোচনাও করেছে সংস্থাটি। পাশাপাশি ইস্টার্ন রিফাইনারিতে পরিশোধনের উপযোগী চারটি দেশের অপরিশোধিত তেল চিহ্নিত করেছে বিপিসি। নাইজেরিয়ার ‘বনি ক্রুড’, মালয়েশিয়ার ‘মালয়েশিয়ান ব্লেন্ড’, নরওয়ের ‘আলভহেইম ব্লেন্ড’ এবং আলজেরিয়ার অপরিশোধিত তেলের বৈশিষ্ট্য পরীক্ষা করা হয়েছে। বিপিসি জানিয়েছে, বিদ্যমান শোধনাগার সুবিধা ব্যবহার করেই এসব অপরিশোধিত তেল প্রক্রিয়াজাত করে বাজারজাত করা সম্ভব। গত এপ্রিলে ইস্টার্ন রিফাইনারি নমুনা পরীক্ষার প্রতিবেদন বিপিসির কাছে জমা দেয়।

দেশে প্রতি বছর জ্বালানি তেলের চাহিদা ৬৫ থেকে ৭০ লাখ টন। যার মধ্যে অপরিশোধিত তেল আমদানি করা হয় ১৪-১৫ লাখ টন। দুটি দেশ থেকে এ তেল আমদানি করা হয়, যার মধ্যে সৌদি আরবের রাষ্ট্রায়ত্ত ‘অ্যারাবিয়ান লাইট ক্রুড’ এবং সংযুক্ত আরব আমিরাতের ‘মারবান ক্রুড’। এ দুই ধরনের অপরিশোধিত তেল থেকে ডিজেল, বিটুমিন ও পেট্রলসহ ১৩ ধরনের পেট্রোলিয়াম পণ্য তৈরি হয় দেশের রিফাইনারিতে।

বিপিসির নতুন চেয়ারম্যান মো. রফিকুল ইসলাম বণিক বার্তাকে বলেন, ‘বর্তমানে দেশে তেলের পর্যাপ্ত মজুদ আছে, আগামী ডিসেম্বর পর্যন্ত দেশে জ্বালানির কোনো ঘাটতি হবে না। সেই সঙ্গে অপরিশোধিত জ্বালানি তেলের বিকল্প উৎসগুলোর সঙ্গে বিপিসি এরই মধ্যে আলোচনা শুরু করেছে।’

Work is progressing with the target of supplying 300 megawatts of electricity from the Rooppur Nuclear Power Plant to the national grid within the next month, said the Russian Ambassador to Bangladesh Alexander Khozin.

He made the remarks on Wednesday during a courtesy meeting with Fazlul Hoque, administrator of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at the organisation’s Gulshan office in Dhaka, according to an FBCCI press release.

The meeting also discussed progress on the Rooppur Nuclear Power Plant project.

Khozin said that around 4,000 Russian specialists and engineers are working tirelessly to resolve the project’s technical issues as quickly as possible.

He further stated that the Moscow Chamber of Commerce and Industry has expressed interest in forming a joint "Russia-Bangladesh Business Council" to further intensify and expand trade, investment and economic cooperation between Bangladesh and Russia.

They also have plans to organise a Russia-Bangladesh Business Forum in Moscow, he said.

The Russian ambassador said that an official announcement on this matter may come during the inter-governmental commission meeting scheduled to be held in Dhaka early November.

He said the forum is being organised in Moscow to facilitate direct communication between entrepreneurs from the two countries. Various sessions, including direct business-to-business (B2B) meetings will be arranged based on the profiles of participating businessmen from Bangladesh.

At the meeting, FBCCI Administrator Fazlul Hoque called for greater focus on new and promising sectors alongside the readymade garment sector to boost bilateral trade.

He placed particular emphasis on exporting human resources to Russia, along with pharmaceuticals, leather and leather goods, jute and jute products and ceramics.

The Russian ambassador said the Russian Ministry of Health is already reviewing procedural and legal issues concerning the import of generic medicines from Bangladesh.

He added that there are also strong demand for heavy footwear and leather goods suitable for Russia’s severe winter.

Khozin further said Russia had issued visas to around 3,000 Bangladeshi workers in recent months as employment opportunities had emerged in agriculture, fisheries, shipbuilding and service sector.

Bangladesh's request for a smooth-transition mechanism after the graduation from the least-developed-country (LDC) category is "legitimate", says WTO deputy chief Xiangchen Zhang about the country's move for getting the process deferred.
The country will face changes in preferential treatment and new obligations under World Trade Organisation (WTO) rules after the graduation.

The Deputy Director-General (DDG) of the global trade body expressed his opinion here Wednesday at a training session titled 'The WTO's Work on Trade and development' held at the WTO headquarters in Geneva with participation of journalists from different countries. The session was organised under the Journalist Programme on Global Trade Polices in the context of the WTO Public Forum 2026.

"LDC graduation is an important subject in the WTO. Bangladesh, together with some other LDCs like Cambodia and Nepal, will graduate from the group. First of all, it is a subject for celebration. It is a demonstration of the progress you have made," Zhang said.

At the same time, he noted, graduating LDCs have legitimate grounds to seek a smooth transition to help them adjust to the changes arising from the loss of LDC-specific trade benefits.

Eligibility for LDC-specific support measures for a period beyond graduation is referred to as a smooth-transition period.

Bangladesh is scheduled to graduate from the world's poor-country club in November this year. The government has, however, submitted a formal request for deferring the gradation for three more years. If approved by the United Nations, the country will graduate in 2029.

Zhang drew an analogy with policies in China, saying that some regions below a certain poverty line receive additional government support and preferential treatment. When those regions move above the threshold, the benefits are withdrawn, which is a sign of progress but can also justify a transitional period.

"In China, our policy is that we give those countries some transitional period of time -- five years -- to continue to enjoy the preferential treatment," he told the journalists.

He said some WTO members had already responded positively to calls for extending preferential treatment for graduating LDCs for an additional three years. He mentions the European Union, the United Kingdom, Australia and Japan. "Not all the countries did the same," Zhang said, adding that the LDC Group, led by Bangladesh, is continuing to push for a smooth transition while the WTO is facilitating discussions among members.

There are currently 44 LDCs on the United Nations (UN) list of which 37, including Bangladesh, have become WTO members to date. Four LDCs are negotiating to join the WTO now.

The 13th Ministerial Conference (MC13) has provided graduating LDCs additional time to align with WTO disciplines on dispute- settlement system and also be eligible for LDC-specific technical assistance and capacity building.

Referring to his visit to Bangladesh two years ago, Zhang said he had witnessed the country's economic progress and the development of emerging industries, including the pharmaceutical sector.

He said graduating LDCs should also focus on specific areas where the impact of graduation could be significant, particularly emerging industries.

Bangladesh needs to understand the implications of new obligations arising from graduation, particularly those relating to the WTO's Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), he said.

"The TRIPS obligations are important for this new emerging industry," Zhang said, referring to Bangladesh's pharmaceutical sector.

He notes that Bangladesh had requested WTO assistance and training on intellectual-property rules for both government officials and entrepreneurs.

"I think it is the right approach."

In 2026, the organisation has conducted training on the TRIPS Agreement and Bangladesh's LDC graduation, focusing on intellectual property-related issues and the obligations that will become relevant after graduation.

Zhang has previously highlighted the need for graduating LDCs to prepare for changes in areas that include TRIPS, agricultural policies and non-agricultural subsidies, while stressing the role of WTO technical assistance in supporting the transition.

Meanwhile, Wednesday was the second day of the public forum, WTO's biggest annual outreach event. This year forum focuses on the fast-growing diversification of the trade in services.

Bangladesh and Italy have discussed enhancing investment, technological cooperation and business partnerships in the country's leather sector, including a possible visit by a Bangladeshi delegation to Italy.
The discussion was held between Commerce Minister Khandakar Abdul Muktadir and Italian Ambassador to Bangladesh Antonio Alessandro at the Ministry of Commerce in the city, BSS reports citing a press release.

Prime Minister's Finance and Planning Adviser Professor Dr Rashed Al Mahmud Titumir was present at the meeting.

Muktadir said the proposed Italy visit would focus on attracting new investors, expanding technological cooperation and strengthening international partnerships in Bangladesh's leather industry.

The Italian ambassador proposed visits to Milan, Florence and Rome to showcase Bangladesh's leather-sector capabilities, environmentally friendly production facilities and investment opportunities to Italian businesses and investors.

He suggested holding meetings with business organisations in Milan, visiting leather industry areas in Tuscany in Florence and conducting government-level discussions in Rome to establish effective contacts with potential investors.

The meeting also underscored the importance of ensuring international-standard certification, environmental management and an investment-friendly environment in Bangladesh's leather industry.

The Italian ambassador said progress in these areas would help expand mutually beneficial partnerships between companies of the two countries.

Waste management at the Savar Leather Industrial Estate also came up for discussion.

The Bangladesh side said large factories would be encouraged to develop their own waste-management facilities while central facilities would continue to be maintained for smaller factories. Plans are also being taken to promote the recycling of industrial waste.

The meeting also discussed the registration process of the Italy Chamber of Commerce and Industry in Bangladesh.

Both sides expressed optimism about further strengthening trade, investment and industrial cooperation between Bangladesh and Italy.

Bangladesh's foreign exchange reserves stood at US$36.32 billion (gross), according to the latest data released by Bangladesh Bank (BB) on Wednesday.

The country's gross foreign exchange reserves reached US$36.32 billion, while reserves calculated under the IMF's BPM6 methodology stood at US$31.47 billion.

The Dhaka Stock Exchange extended its recovery for a second consecutive session today (16 September) as investors bought beaten-down stocks, while Moody's revision of Bangladesh's economic outlook to stable supported market sentiment.

The benchmark DSEX index gained 21 points to close at 5,494, while the blue-chip DS30 index rose 5 points to 2,092.

Turnover rose 10% to Tk556 crore, indicating broader participation alongside the index gains. Of the 386 issues traded, 180 advanced, 153 declined and 53 remained unchanged.

According to daily market reviews by brokerage houses, trading was marked by a tug-of-war between bargain hunting and profit-taking.

EBL Securities noted that the bourse sustained its upward momentum as investors took positions in undervalued stocks following assurances over the resolution of industrial gas supply constraints and renewed regulatory engagement with leading brokers. However, lingering domestic and geopolitical concerns continued to weigh on sentiment and cloud the outlook for a sustained recovery.

Sheltech Brokerage Limited said strong early buying interest pushed the benchmark index to an intraday high of 5,532 points, before profit-taking pressure quickly emerged to erode early gains and drag the index down to an intraday low of 5,473 points. Buying interest subsequently strengthened and persisted until the closing bell, extending the recovery streak for two consecutive sessions. Market sentiment was also aided by Moody's revision of the country's economic outlook from negative to stable.

Meanwhile, insurance scrips pared back part of their previous-session gains amid uncertain market momentum and weak investor conviction toward a sustained upturn.

On the sectoral front, textiles accounted for the highest share of turnover at 27.6%, followed by general insurance at 15.0% and the banking sector at 10.9%.

Most sectors displayed positive returns, with jute exhibiting the most gain at 2.1%, followed by travel up 1.2% and paper rising 1.1%. Conversely, general insurance experienced the steepest correction, dropping 2.2%, followed by mutual funds down 1.7% and food stocks slipping 0.4%.

Trading activity was heavily concentrated in key counters, with Sharp Industries, Eastern Bank, Envoy Textile, Saiham Textile, and Malek Spinning leading the top-traded stocks list.

Individual scrips witnessed aggressive buying interest near upper circuit limits, led by Orion Infusion, which surged 9.96%, Al-Haj Textile up 9.91%, Information Services Network gaining 9.79%, Meghna PET rising 9.56%, and AB Bank advancing 9.09%.

On the losing side, BD Thai Food suffered the sharpest drop, falling 8.15%, followed by Sena Insurance down 7.50%, Exim Bank First Mutual Fund losing 6.75%, EBL First Mutual Fund dropping 6.66%, and Phoenix Finance First Mutual Fund contracting 5.71%.

Mirroring the positive sentiment on the primary bourse, the port city's Chittagong Stock Exchange (CSE) also closed higher. The CSCX index rose 39 points to reach 8,975, while the all-share CASPI index jumped 74 points to close at 14,673.

The Bangladesh Securities and Exchange Commission (BSEC) has urged eligible companies interested in entering the stock market under a proposed direct listing framework to begin preparations for listing.

The initiative is aimed at established companies that do not require fresh capital for business expansion or operations but want to access the capital market.

Under the proposed framework, these companies would not issue new shares to raise funds from general investors. Instead, their existing shareholders would be allowed to sell shares through the stock exchange.

The BSEC has already drafted the Bangladesh Securities and Exchange Commission (Direct Listing of Securities on the Stock Exchange) Rules, 2026 and published the draft for public consultation.

The proposed rules are intended to provide an alternative route for established companies to list on the stock market without raising fresh capital through an initial public offering.

According to the proposed rules, companies meeting the prescribed eligibility criteria would be able to apply for direct listing.

The regulator is encouraging companies that fall within the proposed framework and are interested in listing to take the necessary preparations in advance. This would enable eligible companies to move forward with the listing process once the proposed rules come into effect.

Under the proposed mechanism, a company itself would not raise fresh funds through the listing process. Rather, existing shareholders would get an opportunity to sell or offload their holdings through the stock exchange.

At present, companies seeking to raise funds from the capital market can enter through an initial public offering (IPO). However, established companies that do not require fresh capital but want to become publicly traded would have an alternative route under the proposed direct-listing framework.

The BSEC expects the proposed system to increase the participation of new and capable companies in the capital market. It would also create an opportunity for existing shareholders to offload their shares and help expand the depth and breadth of the market.

The proposed framework could therefore allow companies with different capital requirements to choose different routes to the stock market. Companies requiring fresh capital could use the IPO process, while established companies that do not need additional funds could potentially opt for direct listing.

The BSEC said the draft 'Bangladesh Securities and Exchange Commission Rules, 2026' would be made effective soon through gazette notification.

The regulator said it is continuing policy and regulatory reforms to expand listing opportunities and encourage more capable companies to participate in the capital market, with the aim of developing a deeper, more diversified, transparent and efficient market.

Bangladesh sells garment items to the European Union (EU) at less than half the prices of those from Vietnam because of the lack of high-value garment items in Bangladesh’s export basket.

Among the cheapest suppliers to EU buyers, Bangladesh ranks second-lowest in terms of export prices among major suppliers such as China, Vietnam, India and Cambodia.

In the price chart, Bangladesh is only above Pakistan, the cheapest supplier.

For instance, the unit price of Bangladeshi garment items fell to €13.80 per kilogram (kg) from €15.07 in the corresponding period of 2025, posting an 8.47 percent year-on-year fall, according to data from Eurostat.

However, Vietnam’s average price rose to €29 per kg in the first six months of this year from €25.95 in the same period last year.

In the same period, garment items exported by China experienced a 2.18 percent price fall, Eurostat also said.

Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said Vietnam sends high-value garment items to the EU, while Bangladesh still exports low-end items.

The price of low-end garment items is low, but the volume is high, he said. On the other hand, the value of high-end garment items is high, but the volume is low, he added.

For instance, if a T-shirt is sold at $2 from Bangladesh, the price of the same T-shirt from Vietnam is over $4, he said.

He also blamed unhealthy price competition among exporters domestically for lower prices from international clothing retailers and brands.

At the same time, Cambodia’s price rose by 7.86 percent to €18.67, gaining share while charging more, the opposite of Bangladesh’s pattern.

Turkey also saw a price hike of 1.53 percent, hitting €28.31 from €27.88.

Garments from India and Pakistan to the EU both registered a fall in prices. India experienced a 1.76 percent fall in garment export prices, while Pakistan recorded the highest decline, at 14.74 percent year-on-year, to €10.77.

In the first six months of this year, the average import price of garments by the EU was €19.84 per kg, down 1.93 percent from €20.23 per kg in the same period last year, Eurostat also said.

The EU apparel import market shrank overall. Total imports fell 5.10 percent by value to €54.38 billion and 3.23 percent by volume to 2,688.66 million kg. The average unit price across all sources dropped 1.93 percent to €19.84 per kg.

Bangladesh’s exports fell further than the market, declining 13.65 percent to €10.37 billion in value and 5.66 percent in volume to 751.91 million kg in the January-July period. As a result, it lost share rather than simply following the wider pullback.

Laos has suspended approval of new work permits, labour import plans and labour projects for Bangladeshi nationals nationwide from 1 September through the end of 2026, citing concerns over illegal entry, human smuggling and unauthorised labour recruitment.

The suspension was reported by English-language Lao news website Laotian Times on 14 September, citing a directive issued by Laos' Ministry of Labour and Social Welfare on 9 September.

The ministry said the measure aims to curb illegal entry, human smuggling, unauthorised labour brokers and employers who evade responsibility for workers they bring into the country. However, the directive did not explain why Bangladeshi nationals were specifically targeted.

Major government-approved priority projects with fixed contract schedules will be exempt from the freeze.

The order bars individuals, companies, employers and labour operators from independently authorising the entry or employment of Bangladeshi nationals. Laos has also stopped approving Labour Visa (LA-B2) permits for Bangladeshi workers through the end of 2026.

Violators could face fines, deportation and possible revocation of business licences. Employers importing or employing workers without authorisation face a fine of LAK2.5 million, or about $110, per worker per violation. The same penalty applies to those importing workers for redistribution to other labour units.

Employers using or accepting workers assigned to another labour unit face a fine of LAK2 million, or about $89, per worker per violation.

Workers moving to unauthorised worksites without permission face a LAK1 million, or about $44, fine per instance and deportation within 30 days. Employers or other violators must bear deportation and travel costs.

Repeat violations within the same category could result in triple fines and possible legal prosecution, according to the report.

The Lao ministry did not disclose the number of Bangladeshi workers currently employed in the country or the sectors most affected. Bangladeshi workers in Laos have traditionally been employed mainly in construction and manufacturing, according to Laotian Times.