China has spent several decades building roads, bridges, tunnel and power plants across Bangladesh. Now, its focus is expanding.

The strongest evidence suggests it has, and the clearest sign is foreign direct investment (FDI).

China became Bangladesh’s second-largest source of net FDI in 2025, accounting for more than 18 percent of total inflows, according to Bangladesh Bank data.

That means nearly one in every five investment dollars entering Bangladesh came from Chinese businesses. Chinese FDI reached a six-year high, while cumulative investment approached $2 billion last year.

In 2025, power attracted the largest share of FDI, receiving $448.18 million, followed by food processing with $410.62 million and textiles and apparel with $360.16 million.

Banking, telecommunications, chemicals and pharmaceuticals, agriculture, leather and information technology also drew substantial investment.

For years, Chinese companies were best known in Bangladesh as engineering, procurement and construction contractors rather than long-term investors. They built landmark projects such as the Padma Bridge Rail Link and the Karnaphuli Tunnel.

Now BB data show their role is changing.

China is increasingly directing capital towards industrial investment, relocating manufacturing and embedding itself more deeply in Bangladesh’s production base.

That change is becoming visible across a series of developments which, taken together, point to a new phase in China-Bangladesh economic relations.

The most significant is the long-awaited start of construction of the China Economic and Industrial Zone (CEIZ) at Anwara in port city Chattogram.

First proposed during President Xi Jinping’s visit to Bangladesh in 2016, the project remained largely dormant for years despite land acquisition and planning. Following Prime Minister Tarique Rahman’s first foreign visit to Beijing in June, it regained momentum.

Designed to attract around $1.3 billion in investment and create more than 1 lakh jobs, CEIZ will be China’s first dedicated industrial zone in Bangladesh. More importantly, it marks a shift from delivering infrastructure to establishing industrial production.

Chinese interest is also expanding outside Chattogram.

During the prime minister’s visit, Dhaka and Beijing signed an agreement to develop the China-Bangladesh Mongla Port Economic Zone in Mongla, an area that had previously featured in India’s industrial cooperation plans.

At the same time, Chinese involvement has widened to include port infrastructure, logistics and industrial development. While many of these projects are still at the planning or memorandum stage, together they suggest China is looking to build industrial ecosystems rather than deliver individual projects.

The timing is no coincidence.

As labour costs rise in China and geopolitical tensions reshape global supply chains, Chinese manufacturers are increasingly relocating labour-intensive production overseas. Vietnam and Cambodia have attracted much of that investment over the past decade.

Bangladesh is now positioning itself as another destination, offering competitive labour costs, preferential access to Western markets and a well-established garment industry.

The energy sector reflects the same trend. Chinese companies continue to pursue opportunities in power generation, renewable energy and liquefied natural gas infrastructure.

Last week, Bangladesh approved in principle the country’s third floating storage and regasification unit (FSRU), which will be built by China at Maheshkhali in Cox’s Bazar.

Chinese investment in textiles, apparel, furniture, plastics, chemicals, batteries and other manufacturing industries also shows this wider regional shift rather than an isolated bilateral development.

Bangladesh’s own investment policy has evolved alongside these global changes.

The Bangladesh Investment Development Authority (Bida) has introduced dedicated engagement mechanisms for Chinese investors. The agency says about 510 Chinese companies now run businesses in Bangladesh across manufacturing, power, textiles, construction and trading.

Mustafizur Rahman, distinguished fellow at local think tank Centre for Policy Dialogue (CPD), said China’s growing investment reflects a convergence of trade ties, industrial familiarity and changing global supply chains.

“China has been Bangladesh’s largest source of imports for years. That has given Chinese businesses a deep understanding of the market,” he said.

Mustafizur said Chinese companies also built confidence through years of involvement in infrastructure, power and construction projects before expanding into manufacturing.

Global supply chain realignment has further strengthened Bangladesh’s position.

“As China moves towards higher-value manufacturing and faces higher US tariffs, labour-intensive industries are relocating overseas,” Mustafizur said.

He said the China Economic and Industrial Zone in Anwara could become a major catalyst for industrialisation by attracting new manufacturers while increasing commercial use of the Karnaphuli Tunnel and Matarbari Port.

“Greater Chinese investment would create jobs, facilitate technology transfer, strengthen foreign exchange earnings and diversify exports,” he said.

Al Mamun Mridha, former secretary general of the Bangladesh China Chamber of Commerce and Industry, said China’s investment story has unfolded in stages.

Chinese firms initially entered Bangladesh as suppliers of affordable industrial machinery, often offering supplier credit unavailable from European or Japanese competitors. They later established operations in export processing zones before expanding into textile machinery, garments, backward linkage industries, power generation and major infrastructure.

The next stage, he said, is manufacturing.

“Chinese companies are now looking beyond construction projects. Many are relocating manufacturing to Bangladesh because of its competitive labour costs, preferential market access and growing domestic market.”

Lee Wai Choong, managing director of Vernon & Oliver Furniture Company Limited, a Chinese mattress manufacturer in the BEPZA Economic Zone in Mirsharai, Chattogram, said Bangladesh offers competitive labour costs, a growing industrial ecosystem and expanding opportunities for labour-intensive production.

As workers gain more skills, he said, the country could gradually attract higher value-added industries including electronics, chemicals, semiconductors and advanced manufacturing.

“BEPZA has set a good example of investor support and responsiveness. If other government agencies could match that level of efficiency, Bangladesh would become much more attractive to foreign investors,” he said.

Nahian Rahman Rochi, executive member of Bida, said the recent increase reflects years of targeted engagement rather than a temporary spike.

“Over the past year, Bida has established a dedicated pipeline and relationship-management mechanism for Chinese investors. We have identified high-potential companies, engaged with them regularly, and worked with relevant agencies to address specific bottlenecks as investors move from initial interest to actual investment,” he said.

The China Economic and Industrial Zone has already received investment proposals worth around $500 million and is expected to become a major platform for export-oriented manufacturing, he said.

Bida also plans to establish its first overseas office in Guangzhou and deepen cooperation with the China Council for the Promotion of International Trade (CCPIT).

“These initiatives will help us build a stronger and more sustainable pipeline of Chinese investment and, crucially, translate investor interest into projects on the ground,” said Nahian.

Bangladesh's statistics agency is set to prepare to digitise the inflation data collection, a move officials say will speed up the release of consumer price figures and strengthen confidence among the people in one of the most closely watched economic indicators.
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The plan is to replace the paper-based price survey system with Computer-Assisted Personal Interviewing (CAPI), according to officials familiar with the initiative.

The shift is intended to address long-standing concerns over the reliability of manually collected price data while allowing the agency to publish monthly inflation figures days earlier than at present.

The Bangladesh Bureau of Statistics (BBS) expects to begin piloting the digital system in August and aims to roll it out later this year if the trial proves successful.

"We expect to publish inflation data within the same month. We may even be able to release the figures by the 25th," a senior BBS official told The Financial Express on Wednesday requesting anonymity because the matter is yet to be formally announced.

The inflation data is vital because it measures how fast prices rise and purchasing power drops, used mainly in wage adjustments in many organisations. It should be guided by the interest rate regime.

The Bangladesh Bank uses it to decide whether to raise the policy rate or not, while companies use it to plan future costs and set product prices.

The BBS currently releases inflation data during the first week of the next month after completing field surveys and data processing.

Officials say the digital platform will automatically detect unusual price movements and require verification before they are incorporated into the Consumer Price Index (CPI), reducing the scope for reporting errors and improving oversight.

The reform also seeks to counter persistent allegations that some enumerators have failed to visit markets and instead completed survey forms from their offices.

Officials say the new system would rely on automated validation tools, making such practices significantly more difficult.

Under the CAPI system, the agency expects to complete price collection, validation, and processing in around 18 days, substantially reducing the time needed to compile the monthly CPI.

The project is being financed under the Statistical Capacity Enhancement and Modernisation Project (SCEMP), which is supported by the World Bank.

The BBS gathers price information from 154 markets nationwide, including 90 urban and 64 rural ones.

Urban coverage includes 12 markets in Dhaka, four in Chattogram, 18 in other divisional cities, and 56 in district towns. Enumerators collect three price quotations for each product and its varieties.

The survey covers 127 food items with 242 varieties and 256 non-food items with 507 varieties.

Prices in Dhaka and Chattogram city corporations are collected weekly, while surveys in other urban centres and rural areas are conducted monthly.

Data is obtained from selected retail outlets and service providers, with average prices used to calculate the indices.

The index is based on the 2021-22 prices, while expenditure weights are drawn from the Household Income and Expenditure Survey 2016-17.

The national CPI combines the urban and rural indices using weights based on the Classification of Individual Consumption by Purpose (COICOP).

The BBS publishes separate inflation measures for the national, urban, and rural populations, with food and non-food indices reported individually.

Elementary indices are calculated using the Jevons formula and chained Jevons methodology.

Bangladesh Bank (BB) has formed a revolving pre-finance scheme worth Tk 20 billion (Tk 2,000 crore) to foster the development, sustainability and international competitiveness of the country’s leather and leather goods sector.
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The central bank issued a circular, signed by Director of its Banking Regulation and Policy Department (BRPD) Gazi Md Mahfuzul Islam, on Thursday, outlining the operational policy guidelines for all scheduled banks.

The main objective of the fund – financed entirely from BB’s own resources – is to meet domestic demand, expand export earnings, promote eco-friendly production, ensure international quality standards, and generate employment opportunities in the leather industry.

Under the guidelines, the fund will operate as a revolving scheme for a tenure of three years, managed and monitored by the SME & Special Programme Department at the central bank’s head office.

All scheduled banks in Bangladesh are eligible to participate in the scheme upon signing a Participation Agreement with the SME & Special Programmes Department. Interested banks must apply to the central bank within 15 working days of approving loans for clients.

At the customer level, the maximum interest rate for loans disbursed under this scheme will be 7 percent per annum. Participating banks will receive pre-finance facilities from Bangladesh Bank at an interest rate of 4 percent. Banks are strictly prohibited from charging any fees beyond the central bank's prescribed schedule of charges.

For setting up new tanneries, installing effluent treatment plants (ETP), and constructing cold storage for raw hide processing, institutions can receive project term loans up to a maximum of Tk 30 crore with a tenure of up to seven years (including a maximum grace period of two years).

For existing tanneries, existing leather product factories, or setting up new leather product units, term loans ranging from Tk 10 crore to Tk 20 crore will be available.

Additionally, working capital loans up to Tk 30 crore can be disbursed to cover operational expenses such as raw material purchases, salaries, and utility bills for up to three years through annual renewals. Ancillary component manufacturers for the leather industry can receive working capital loans up to Tk 5 crore.

Eligibility & Environmental Obligations

The circular prioritises raw hide processors and raw leather processing institutions. However, institutions that currently enjoy loan facilities under other government or central bank funds such as the Export Development Fund (EDF), Export Facilitation Pre-finance Fund (EFPF), or Green Transformation Fund (GTF) will not be eligible to receive loans under this scheme for the same sector. Identified loan defaulters under the Bank Company Act, 1991 are also strictly excluded.

To ensure environmental and compliance targets, the central bank has imposed several special conditions.

Leather processing entities receiving funds must present proof of obtaining Leather Working Group (LWG) certification within two years.

Beneficiary units must meet at least 10 percent of their electricity demand from solar power sources within two years.

Factories must ensure health and safety risk mitigation for workers.

Failure to fulfil these special conditions will disqualify the entity from receiving future loan facilities under this or any other Bangladesh Bank scheme.

Oil prices closed more than $1 per barrel higher on Friday, ending July with their biggest monthly gains since March, as concerns over global crude flows mounted on Iranian reports that some tankers were forced to turn back in the Strait of Hormuz.

Brent futures settled up $1.09, or 1.2 percent, at $90.12 a barrel, while US West Texas Intermediate (WTI) futures closed up $1.08, or 1.3 percent, at $84.67 a barrel.
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For July, Brent gained 24 percent and WTI rose 21 percent.

The war in Iran, which began on February 28, has sharply curtailed traffic through the Strait of Hormuz, a vital chokepoint that previously carried about a fifth of global crude oil and natural gas supplies, disrupting millions of barrels per day of Middle East output.

Iran has largely blocked shipping through the strait since the conflict began, while its Houthi allies in Yemen this month threatened vessels transiting the Bab el-Mandeb strait at the southern end of the Red Sea, jeopardizing an alternative export route used by Saudi Arabia and other regional producers.

Iran’s Revolutionary Guards stopped two tankers from transiting the Strait of Hormuz, while four others changed course, Fars News Agency reported.

Two very large crude carriers carrying oil loaded from the Gulf exited the strait on Friday, although traffic through the waterway remained sparse, according to Kpler ship-tracking data.

Twenty-nine commodity vessels passed through the Bab el-Mandeb strait on Thursday.

“The market has stopped trading the war and started trading the shipping data,” said Ole Hvalbye, market analyst at SEB Research.

Talks between Iran and Oman on managing the strait continue, according to the Iranian Labour News Agency, despite Tehran’s rejection of Oman’s proposal for joint management of the waterway.

Research firm Gelber & Associates wrote in a note that the “geopolitical risk premium (remains) firmly in place near chokepoints like the Strait of Hormuz. Domestic supply is reinforcing the move as well, with US crude stockpiles ... down to multi-year lows.”

The note was referring to Energy Information Administration (EIA) data showing US commercial crude stocks last week fell to their lowest levels since 2018.

A drone strike that sparked fires on two gas vessels in Egypt’s Mediterranean port of Damietta also raised threats to shipping through the Suez Canal.

Saudi Arabia this week said it is seeking to lead a coalition to boost defense cooperation in the Bab el-Mandeb strait, the Red Sea and the Gulf of Aden.

Ukraine’s military said it hit Russia’s Volgograd oil refinery overnight on Friday, causing a fire at the facility.

In Kazakhstan, Tengizchevroil, the operator of the giant Tengiz field, has resumed oil exports via the Georgian port of Batumi for the first time since March, two sources told Reuters.

Crude oil output in the US fell about 2 percent in May from a record high in April, while exports hit a record high for the second consecutive month, according to EIA data on Friday.

Higher oil prices, however, dented consumption, with demand for crude oil and petroleum products falling more than 3.5 percent in May to about 20.07 million barrels per day, the lowest level since March 2025, the data showed.

A report from Baker Hughes on Friday showed that US energy firms this week added rigs for a sixth time in seven weeks. The number of active rigs is an early indicator of future output.

Separately, a Reuters survey of 31 economists and analysts showed that oil prices are expected to rise further this year.

Brent crude is estimated to average $85.22 a barrel in 2026, up from June’s forecast of $84.50, the survey showed.

Bangladesh’s export sector is facing sharply higher ocean freight rates, largely driven by an escalating conflict between Iran and the US-Israel coalition that has choked shipping through the Strait of Hormuz, according to industry insiders.

However, most garment exporters, who account for the lion’s share of the country’s total exports, are expected to remain shielded from paying those costs directly, stakeholders say.

Import costs have risen too, though by a much smaller margin.

The Mideast conflict deepened this week, with Iran saying it stopped two vessels trying to leave the Strait of Hormuz and turned back four tankers, following a drone attack on ships at an Egyptian port earlier in the week, Reuters reported.

The US and Israel are reportedly planning strikes on Iran’s energy infrastructure, including power plants and refineries, possibly as soon as this weekend, though no final order had been given as of Friday.

RATES FOR MIDEAST TRIPLED

Khairul Alam Suzan, vice-president of the Bangladesh Freight Forwarders Association (BAFA), said freight rates to the Middle East had briefly dropped to $1,400 to $1,500 per container during a ceasefire three weeks ago.

They have since jumped to $5,000 to $6,000.

He also said rates to Europe have climbed from around $4,000 to $5,000 to about $11,000 per container. Rates to Africa are up by another $3,000 to $4,000.

“Freight charges have doubled or even tripled,” Suzan said. “Demand for 40-foot export containers remains high, while many containers are stranded in the Middle East because of the conflict.”

He said shipping lines have rerouted vessels to avoid the Strait of Hormuz, adding to fuel and insurance costs.

Houthi forces in Yemen have this month also begun threatening the Bab el-Mandeb Strait, the other route out of the Red Sea, adding a second pressure point for shippers.

Industry insiders say shipping companies have cut back on export bookings from Bangladesh as well, leaving exporters and freight forwarders paying more and waiting longer for vessel space — in some cases up to three weeks longer.

GARMENTS SHIELDED, FOR NOW: BGMEA

Mahmud Hasan Khan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said most garment exporters are insulated from the immediate impact, since 90 to 95 percent of export orders are shipped on Free on Board (FOB) terms.

“Under FOB contracts, exporters bear transportation costs only up to the port. Ocean freight, container charges and other international shipping costs are paid by overseas buyers,” he said.

But he warned the effects would eventually reach exporters too. “When logistics costs increase, buyers usually reduce imports or place fewer orders,” he said.

Large international buyers are more insulated, he said, since they lock in freight rates through annual contracts with major shipping lines.

Smaller buyers who rely on spot bookings have to absorb the higher rates — and that, he said, could start affecting where they choose to source from.

On the import side, traders report a comparatively smaller 20-30 percent rise in freight rates.

They attributed this partly to container-size dynamics – most inbound cargo moves in 20-foot containers, while exports mostly need 40-foot ones, which are running short during the disruption.

Stocks rebounded sharply this week, with the benchmark index recovering most of the previous week's losses as bargain hunters returned to the market amid growing optimism over corporate earnings.

Market operators said investor sentiment improved after retaliatory actions in the Middle East temporarily subsided, easing fears of a further escalation in the conflict.

Expectations of strong quarterly earnings, particularly from banks and several blue-chip companies, also prompted investors to rebuild positions, triggering broad-based buying across the market.

Meanwhile, most listed banks posted double-digit year-on-year profit growth in the first half of 2026, buoyed by higher investment income as well as increased earnings from fees and commissions.

Some of the multinational companies also posted higher profit despite prolonged inflation and rising energy costs, according to their financial statements released during the week.

A leading broker said investors took advantage of the recent price correction to accumulate fundamentally strong stocks, especially those expected to report robust earnings for the April-June quarter.

"The improving earnings outlook, coupled with relatively attractive valuations after the previous week's decline, helped restore confidence among both institutional and retail investors," said the broker.

However, many investors remained cautious over several domestic and external factors. Concerns over disruptions to gas supply, lingering geopolitical tensions in the Middle East and uncertainty surrounding the final amendment to margin loan rules prompted many investors to book profits during the week.

Of the five trading sessions during the week, three closed higher and two sessions ended lower.

The benchmark index of the Dhaka Stock Exchange (DSE) finally climbed more than 91 points or 1.57 per cent to close at 5,895 points, after shedding 96 points in the previous week.

According to EBL Securities, the market demonstrated resilience as renewed buying interest emerged in the final trading session, enabling equities to end the week on a firm positive note.

Expectations of favourable quarterly earnings from key sectors also boosted investor confidence, triggering broad-based buying across the market.

The DS30 Index, which tracks blue-chip companies, advanced 25 points to 2,217, while the Shariah-based DSES Index rose 12 points to 1,195.

Selective heavyweight stocks, including British American Tobacco Bangladesh (BATBC), Pubali Bank, Beximco Pharmaceuticals, Walton Hi-Tech Industries, and Dominage Steel Building Systems, accounted for nearly one-third of the benchmark index's weekly gain.

Trading activity also remained resilient. Total turnover on the Dhaka bourse stood at Tk 52.99 billion during the week, slightly down from Tk 53.16 billion a week earlier.

Consequently, average daily turnover dropped 0.31 per cent to Tk 10.60 billion from Tk 10.63 billion in the previous week, indicating that some investors preferred to remain cautious.

Textile sector accounted for the largest share of weekly turnover at 22.5 per cent, followed by pharmaceuticals with 12 per cent and engineering with 10.8 per cent.

Market breadth was firmly positive, with 264 issues advancing, 89 declining and 35 remaining unchanged on the prime bourse.

Dominage Steel Building Systems emerged as the week's most-traded stock with transactions worth Tk 1.86 billion. It was followed by IT Consultants, Summit Alliance Port, Fareast Knitting and Saiham Cotton.

Most sectors posted gain during the week. General insurance saw the highest gain of 8 per cent, followed by food, engineering, power, banking and pharmaceuticals.

The Chittagong Stock Exchange (CSE) also ended the week higher. Its All Share Price Index (CASPI) rose 140 points to 15,760, while the Selective Categories Index (CSCX) gained 80 points to close at 9,616.

Marico Bangladesh Limited, the producer of the popular Parachute brand, reported a 12.38% year-on-year decline in net profit for the April-June quarter of 2026, marking the first time the company has faced a quarterly earnings slump in four years.

According to its latest financial statements, the company's net profit for the quarter stood at Tk170.47 crore, down from Tk194.56 crore in the corresponding period of 2025.

This downturn comes despite a 4% growth in revenue, which reached Tk531.86 crore during the same period. The last time the multinational witnessed a contraction in its first-quarter profit was in 2022.

The company reported that its earnings per share (EPS) settled at Tk54.12 for the quarter, compared to Tk61.77 a year earlier.

Management attributed the profit squeeze primarily to a sharp rise in raw material prices and a decrease in finance income. Additionally, the net operating cash flow per share (NOCFPS) plummeted to Tk20.28 from Tk66.73, which the company explained was due to significantly higher payments made to suppliers during the three-month period.

Meanwhile, the company's net asset value (NAV) per share rose to Tk146.14 as of 30 June 2026, up from Tk92.02 in March, bolstered by a strong retained earnings position.

Despite the earnings dip, the board of directors declared a substantial 500% interim cash dividend, equivalent to Tk50 per share. The record date for the dividend entitlement has been set for 27 August.

Market analysts noted that while rising input costs remain a challenge for the manufacturing giant, the hefty dividend payout reflects the company's robust cash reserves and continued commitment to shareholder returns.

A widening imbalance between Bangladesh's container imports and exports is leaving inland container depots (ICDs) overflowing with empty containers, straining storage capacity for export cargo and prompting the Chattogram Port Authority (CPA) to renew its push for regulatory changes.

The CPA has asked the National Board of Revenue to allow shipping agents and main line operators (MLOs) to store empty containers at suitable non-bonded locations without requiring bonded warehouse licences, arguing that the current rules are worsening congestion at both the port and private depots.

In a letter sent on 26 July, the port authority revived a prior proposal submitted in October 2025 that has yet to receive approval.

Import-export gap reaches record high

CPA data show the gap between import and export containers has nearly doubled over the past five years, rising from 177,832 twenty-foot equivalent units (TEUs) in FY22 to a record 329,996 TEUs in FY26.

In FY22, the country handled 1.72 million TEUs of imports and 1.54 million TEUs of exports, leaving a gap of 177,832 TEUs.

The gap widened to 237,609 TEUs in FY23, despite imports falling slightly to 1.62 million TEUs and exports declining to 1.38 million TEUs.

In FY24, imports rebounded to 1.72 million TEUs, while exports reached 1.45 million TEUs, pushing the imbalance further to 278,500 TEUs.

Although the gap narrowed marginally to 276,357 TEUs in FY25, imports continued to outpace exports, with 1.79 million TEUs of imports compared with 1.51 million TEUs of exports.

Imports climbed to 1.93 million TEUs while exports rose to 1.60 million TEUs in FY26.

According to industry operators, the country's 24 private ICDs, which have a combined storage capacity of around 106,000 TEUs, are currently holding 56,565 TEUs of empty containers.

Ruhul Amin Sikder, secretary general of the Bangladesh Inland Container Depot Association, said the actual trade imbalance is even wider than official statistics indicate because the data include both loaded and empty containers.

"The country's real export volume is nearly half of its imports," he told The Business Standard.

"When vessels arrive and depart, both loaded and empty containers are counted in the port statistics. As a result, the published figures do not reflect the actual volume of export cargo," Ruhul Amin said.

According to detailed port data for calendar year 2023, the port handled 1,337,613 TEUs of imports, including 94,915 empty containers. During the same period, exports totalled 1,315,337 TEUs, of which 584,891 TEUs were empty containers shipped overseas.

Excluding empty boxes, loaded imports stood at 1,242,698 TEUs, while loaded exports amounted to just 730,446 TEUs, leaving an actual containerised trade gap of 512,252 TEUs.

He said the mounting stock of idle containers is reducing space available for export cargo.

"If shipping lines are allowed to store empty containers in non-bonded facilities, both ICD operators and shipping lines will get much-needed relief," he said.

Port calls for regulatory changes

In its letter to the NBR, the CPA said all imported less-than-container-load (LCL) cargo is destuffed inside the port, while nearly 70% of full container load (FCL) imports are opened for cargo delivery. As importers collect their goods, thousands of containers become empty every day.

However, empty containers are evacuated much more slowly than they are generated, leading to a steady build-up at both the port and private depots.

The authority noted that although shipping agents and MLOs are responsible for these containers, current NBR regulations prevent them from storing empty containers outside bonded facilities.

The CPA also pointed out that many countries, including Bangladesh's neighbours, allow shipping lines to manage empty container storage at suitable locations without requiring bonded warehouse licences.

Allowing similar arrangements in Bangladesh, it said, would improve yard utilisation, reduce congestion and streamline container handling.

Low commercial incentive to move empty boxes

Khairul Alam Suzan, former vice-president of the Bangladesh Freight Forwarders Association and former director of the Bangladesh Shipping Agents Association, said depot operators earn significantly more from handling loaded import and export containers than from storing empty ones.

Shipping lines also incur losses when transporting empty equipment.

"A loaded container may generate freight of around $300, while an empty container earns only about $100 despite occupying the same vessel space and requiring the same handling," he said.

"As a result, shipping lines often delay repositioning empty containers, prolonging their stay in Bangladesh and worsening congestion across the logistics chain," he said.

Long-term solutions needed

Industry experts say the growing stockpile of empty containers reflects Bangladesh's structural trade imbalance rather than simply a shortage of storage space.

Alongside allowing non-bonded storage, they recommend improving data on empty container movements, strengthening coordination among the CPA, Customs, NBR, shipping lines and depot operators, and boosting exports to narrow the persistent trade gap.

Without such measures, they warn, pressure on the port and the country's logistics network is likely to intensify as container traffic continues to grow.

Bangladesh Bank has reduced the policy rate by 50 basis points to 9.50 per cent just a month after announcing a cautious and contractionary monetary policy aimed at inflation combat.
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Amid cries from business circles, the central bank makes the downward adjustment in its benchmark rate in 22 months notwithstanding inflation remaining elevated.

The new rate will come into effect from August 2, according to a press release issued by the central bank following a meeting of the Monetary Policy Committee (MPC) held Thursday.

The central bank said the committee extensively reviewed domestic and global inflation trends alongside investment, private-sector credit growth, employment, economic growth and the country's external balance before reaching the decision.

"The MPC, after reviewing the latest developments in domestic and global economic indicators, decided to reduce the policy (repo) rate by 50 basis points from 10.00 per cent to 9.50 per cent," the statement reads.

The MPC also lowered the Standing Lending Facility (SLF) rate by 50 basis points to 11.00 per cent from 11.50 per cent, while leaving the Standing Deposit Facility (SDF) rate unchanged at 7.50 per cent, maintaining the lower bound of the interest- rate corridor.

The first MPC meeting of the current fiscal year was chaired by Bangladesh Bank Governor Mostakur Rahman. Deputy Governor Habibur Rahman, economist Mustafa K Mujeri, BIDS Director-General A K Enamul Haque, Dhaka University Economics Department Chair Ferdousi Nahar, Chief Economist Mohammad Akhtar Hossain, and Executive Director Imam Abu Sayeed attended the meeting.

The Dhaka Stock Exchange (DSE) rebounded last week as the benchmark DSEX climbed 1.57%, driven by renewed investor optimism over the ongoing quarterly earnings season despite lingering concerns over gas supply disruptions and regulatory uncertainty.

The DSEX, the key index of the Dhaka bourse, gained 91 points to close at 5,895, recovering from the sharp correction recorded in the previous week. The blue-chip DS30 index also advanced 24 points to end the week at 2,217.

According to EBL Securities' weekly market review, the rebound was supported by a temporary pause in retaliatory actions in the Middle East conflict, which revived investors' risk appetite.

Market participants also accumulated shares of companies expected to post strong quarterly financial results, resulting in broad-based buying across the market.

The benchmark index briefly crossed the 5,900-point mark during the week for the first time in nearly a fortnight before intraday profit-taking trimmed some of the gains.

However, concerns over ongoing gas supply disruptions and uncertainty over new margin lending rules kept investors cautious.

Despite these headwinds, market breadth remained strong, with gainers significantly outnumbering losers. Of the traded issues, 264 advanced while only 89 declined.

Trading activity edged lower during the week, with average daily turnover slipping slightly to Tk1,060 crore.

Among sectors, textiles dominated turnover, accounting for 22.5% of total weekly trading, followed by pharmaceuticals with 12% and engineering with 10.8%.

The general insurance sector emerged as the week's best performer, posting an 8% gain. Food and textile sectors followed with returns of 6.2% and 3.9%, respectively. Meanwhile, cement, paper and telecommunication stocks posted marginal losses as investors rotated their portfolios.

Among individual stocks, Exim Bank First Mutual Fund topped the gainers' chart with a 36.7% surge, followed by FAS Finance and Saiham Textile.

On the losing side, Renwick Jajneswar fell 12.8%, while Meghna Pet also recorded a notable decline during the week.

Apple shares fell nearly 10 percent on Friday after a disappointing forecast showed that the iPhone maker was struggling to secure enough components as the AI-driven data center boom strains global supply ​chains.

The drop, if sustained, would mark the stock’s worst day since the pandemic-driven selloff in March ‌2020. It would erase nearly $500 billion from Apple’s market capitalisation and return the crown of the world’s most valuable company to AI chip giant Nvidia, days after reclaiming it.

Tim Cook, widely hailed as a supply-chain genius, called the shortages “very significant” and said Apple had limited options ​to address them, speaking on his final earnings call as CEO before handing the reins to John ​Ternus in September and becoming executive chairman. “If even at Apple’s scale they are saying they are out all supply chain flexibility, it’s really bad for everyone,” said Ben Bajarin, CEO of tech consultant Creative Strategies.

Big ​Tech has been scooping up advanced chip-making capacity and memory chips to power its AI data centers, sparking shortages and ​price increases that are expected to shrink both the personal computer and smartphone markets this year.

Apple had cushioned some of the blow from surging memory costs by drawing on stockpiled inventory, but Cook said that the buffer was fading and shortages of processors were keeping ​it from meeting strong demand for iPhones and Macs.

Its forecast on Thursday for revenue growth of between 9 percent and 11 percent ​in the current quarter fell short of Wall Street’s roughly 12 percent estimate, and softer growth in its services business also overshadowed otherwise ‌strong June-quarter results.

SERVICES WEAKNESS WORRIES INVESTORS

The services weakness worried investors as it came during a stretch of strong iPhone sales, which typically feed the business that takes a cut of App Store purchases and includes everything from Apple Music to Apple TV.

That slowdown could deepen if iPhone sales take a hit from a price increase that many analysts expect during the ​launch of the new lineup, ​which typically happens in September.

“Apple’s leverage over the supply chain appears to be in question and it’s not clear that AI is serving as any measurable tailwind to products or services, with its future monetisation ​impact still uncertain,” Morgan Stanley analysts said.

“In fact, one could argue App Store softness ​might even be a result of AI re-prioritising customer time.”

Still, some analysts said that the iPhone has weathered price hikes before without denting demand significantly and that a recent US leasing deal with Klarna that offers monthly plans for Apple’s devices could soften the blow.

At least four brokerages cut their targets for the company’s stock price, while three ​raised. That moved the median view to $330, which is $3 lower than the last closing price, according to LSEG data. The stock has risen 22.7 percent this ​year as of Thursday’s close.

Bangladesh Bank (BB) has made it mandatory for applicants to withdraw all pending lawsuits filed against the government, the central bank, or the respective bank to qualify for any government-announced incentive packages or special policy support.
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In a circular issued to the chief executives of all scheduled banks, the central bank stated that the new directive comes into force with immediate effect.

Under the new instructions, applicants will not only have to withdraw all existing cases but must also submit a complete list of the withdrawn lawsuits alongside their applications.

Furthermore, applicants must furnish a formal declaration through an affidavit executed on a non-judicial stamp, confirming that no lawsuits filed by them against the government, Bangladesh Bank, or the bank concerned remain pending or under trial.

The BB noted that it has long been providing various policy supports and incentive packages aimed at generating employment, boosting credit flow to productive sectors, and building a private investment-led economy.

These measures include assistance for reopening closed export-oriented factories, providing credit facilities to entrepreneurs in the agricultural, cottage, micro, small, and medium enterprise (CMSME) sectors, and supporting other productive industries.

However, central bank observations revealed that certain clients were enjoying government incentives and policy benefits while simultaneously pursuing writ petitions and other legal suits against the government, Bangladesh Bank, or the lending banks. Central bank authorities noted that this dual position has created unnecessary legal complications within the banking sector and posed significant hurdles to implementing policy support smoothly.

Central bank officials expect the new directive to reduce unnecessary case backlogs and minimize legal uncertainties surrounding the implementation of government incentive packages. They added that the process will become more transparent and accountable for genuine entrepreneurs seeking to revive their businesses, expand production, and create jobs.

Bankers pointed out that, in the past, several institutions continued legal battles in court while simultaneously availing themselves of incentive schemes. This resulted in delays in policy execution and forced banks into prolonged litigation. The new policy is designed to discourage such dual stances.

Meanwhile, a section of legal experts emphasized that, while executing the directive, it will be crucial to maintain a balance between an applicant's right to seek constitutional remedies and the conditions attached to government policy support. They advised banks to strictly adhere to the provisions of the circular during implementation.

The BB expressed hope that the policy will ensure incentives reach actual entrepreneurs more effectively, lower legal friction, and invigorate national economic activities through increased investment, production, and employment generation.

The US dollar continues to gain against the taka amid increased demand for foreign currency to clear import bills.

On July 13, the weighted average rate of the greenback hit Tk 123 per dollar in interbank trading. The rate, after remaining steady for three days, began to increase gradually.
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On July 30, the taka-dollar exchange rate rose to Tk 123.82 per dollar in the interbank market. On the spot market, the dollar was traded at Tk 123.88 each on the same day, according to Bangladesh Bank (BB) data.

“We are seeing increased pressure for import payments, particularly for the import of fuel and fertiliser by government agencies. Overall, imports have increased too,” said a top executive of a private bank.

During the July-May period of FY26, Bangladesh’s imports grew 6.26 percent year-on-year to $64 billion. By contrast, exports declined 2 percent year-on-year to $40 billion, according to BB.

Bankers said that although the country received a record $35.5 billion in remittances sent by migrant workers and Bangladeshis living abroad, the inflow has slowed recently as the two major festivals -- Eid-ul-Fitr and Eid-ul-Azha -- have already been celebrated.

“It appears exports are likely to remain dull. The fresh escalation of the war in the Middle East and the consequent spike in oil prices have also raised concerns,” said another banker. “It appears that the taka will remain under pressure for some time.”

However, there is a flip side. A weaker taka will enhance the competitiveness of exports, bankers said.

As demand for foreign currency increases, BB has stopped buying US dollars from the market since June 8. The central bank bought $6.4 billion from the market between July 2025 and June 2026 as part of its effort to build foreign exchange reserves.

Cutoff time is now until August 15 for the centrally capital-deficient Janata Bank to fulfill its UAE outfit's jacked-up minimum-capital requirement or pull back, according to the gulf country's regulatory direction.

As such, the state-owned Janata Bank PLC (JBPLC) has run into severe crisis in the United Arab Emirates (UAE) due to its failure to meet the minimum capital requirement, as the Central Bank of the UAE (CBUAE) has issued a final directive for the bank to wind down its operations in the country.

According to the directive, Janata Bank has to appoint an Administrator or Liquidator by August 15, 2026 to initiate the liquidation process.

The CBUAE has warned that failing to comply within the deadline will result in a permanent freeze on Janata Bank's accounts maintained with the CBUAE-a move that could severely impact the bank's international operations.

Currently, there are four overseas branches operating in the UAE, including in Abu Dhabi, Al Ain, Dubai and Sharjah.

The urgency of the situation was highlighted in a letter sent by Managing Director (MD) of Janata Bank PLC Md. Mazibur Rahman to the Secretary of the Financial Institutions Division.

An official document shows that on July 15, the CBUAE issued a letter instructing Janata Bank to appoint an administrator within 30 days (by August 15, 2026) and wind down its business.

Subsequently, the Chief Executive of Janata Bank's UAE operations informed the headquarters through a letter dated July 29, 2026 that the CBUAE reviewed Janata Bank PLC's overall 2025 financials at entity level and decided to uphold its July-15th order.

Under CBUAE Circular No. 12/2021, the bank was required to meet some following financial criteria to keep its UAE operations active.

In accordance with the Circular No-12/2021 of the CBUAE, paid-up capital of Janata Bank has to increase from 100 million to 400 million dirham equivalent to approximately Tk 1.34 billion at the branch level in the UAE, reads the Janata Bank letter.

In addition, at the head office level, some 2.0 billion dirham, equivalent to approximately Tk 67.06 billion, along with adjusting this bank's own negative capital of Tk 164 billion, comes to a total capital arrangement plan for Tk 232.41 billion, the letter mentions.

Describing the situation as "extremely alarming," Janata Bank's Board of Directors has requested urgent intervention from the government and Bangladesh Bank (BB) to either secure permission to keep operations afloat or transition into alternative models, such as a non-banking financial institution or an exchange house.

Although the governor of BB previously emailed the CBUAE Governor requesting an opportunity to maintain operations, the CBUAE has been unmoved.

As the deadline rapidly approaches, the state-owned bank authorities have requested an emergency meeting with all relevant stakeholders, including the Ministry of Finance and the central bank, to determine the next steps.

Agenda items include exploring alternative models-such as converting the UAE operations into a non-banking financial institution or an exchange house-to avoid a complete shutdown and safeguard customer deposits.Arabs & Middle Easterners

Beyond the crisis in its UAE branches, the overall domestic financial health of the bank proper is said to be under severe strain, characterized by record losses, a massive bad-loan volume, and a staggering capital deficit.

As of December 2025, Janata's financial health had deteriorated sharply as its stock of non-performing loans (NPLs) surged to Tk 725.39 billion, exposing the state-owned lender to an unprecedented balance-sheet crunch.

The mounting volume of unrecovered loans pushed the bank's actual capital shortfall to a record Tk 644.06 billion, while its provisioning deficit-the mandatory reserves required against classified loans--widened to Tk 559.32 billion, according to official financial data.

The bank also posted a staggering net loss of Tk 39.31 billion for 2025.

Its core banking operations remained under severe stress, with net interest income staying deeply in the red as interest operations alone incurred a loss of Tk 59.03 billion.Public Finance

When contacted, the MD of Janata Bank said the Bangladesh Bank governor had officially written to the Central Bank of the UAE regarding the ongoing capital- requirement issues of its UAE branches.

"A joint meeting involving the Foreign Affairs Ministry, the Financial Institutions Division (FID), the Finance Division, and the Bangladesh Bank will be held very soon to discuss the matter," Md. Mazibur Rahman told The Financial Express.

The Janata Bank chief has noted that the capital deficit is not a recent development, but has persisted since 2016.

He highlighted that the minimum capital requirement was previously 40 million dirham, but the UAE authorities now asked for raising it tenfold to 400 million dirham in a single leap.

"Our four branches operating in the UAE are profitable. Historically, we have been managing and absorbing the capital deficit using the operating profits generated by these branches," he added.

Bangladesh Bank (BB) has extended the deadline for Mobile Financial Service (MFS) providers and scheduled banks to comply with specific regulatory requirements for the ‘Add Money’ facility from bank cards to personal MFS accounts until December 31, 2026.
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The central bank issued the directive on Thursday through PSD-1 Circular Letter No. 03/2026, revising the implementation timeline for instructions under Serial Nos. 02 and 03 of its earlier circular issued on May 19, 2026.

According to the circular, MFS providers and scheduled banks failing to comply with the stipulated requirements by the revised deadline will have their card-to-MFS ‘Add Money’ service suspended from January 1, 2027.

The directive was issued under Section 18 of the Payment and Settlement Systems Act, 2024.

Bangladesh Bank clarified that the extension applies only to the implementation timeline for the two specified instructions.

All other provisions of the original circular issued on May 19 will remain unchanged and must continue to be followed.

US petroleum giants ExxonMobil and Chevron released blowout profits Friday due to the Middle East war, as executives cautioned that elevated gasoline prices will probably continue to strain consumers.

The US oil giants scored huge profit increases, illustrating that the financial benefits from supply disruptions from the US-Iran war easily offset negative effects at both companies.

ExxonMobil’s second-quarter profits more than doubled to $14.5 billion, while Chevron’s came in at $12.1 billion, more than five times the level in the year-ago quarter.

But gasoline prices sit above the psychologically important $4 per gallon level, posing political risk to US President Donald Trump ahead of the US midterm elections.

While crude prices are relatively high, executives with the two oil giants emphasized the effects of diminished refinery capacity in the wake of Iran’s virtual shutdown of the Strait of Hormuz that has led some plants to shut or reduce runs.

“I wouldn’t hold my breath here in the short term,” ExxonMobil Chief Executive Darren Woods told CNBC in response to a question about when gasoline prices will fall.

“I think we’re going to see prices consistent with what we’re experiencing for quite a while yet,” said Woods, describing a “disconnect” between crude and gasoline markets distinct from long-term trends.

“We’ve got to get the Strait opened up and then we’ve got to resupply the inventories and get things moving,” Woods said.

Chevron Chief Executive Mike Wirth described the meager state of motor gasoline inventories as part of broader dearth of refined products supplies that also affects jet fuel and diesel, among other goods.

“We’re going to see upward pressure on product pricing here into the third quarter and perhaps beyond that,” Wirth told analysts on a conference call.

With revenues of $116 billion, up 42 percent, ExxonMobil pointed to higher oil prices as a factor in its earnings, while emphasizing huge increases in refining margins.

Refining margins, the profit from gasoline and other products minus crude oil costs, “reached record levels in the quarter,” ExxonMobil said in prepared remarks that cited a nearly nine percent drop in global capacity because of war-related dislocations.

Besides lost volumes due to the Strait of Hormuz, Woods cited a drop in China fuel exports and lost Russian refining capacity following attacks by Ukraine.

While the effects from the war mostly benefited ExxonMobil, damage to key liquefied natural gas assets in Qatar dented output, Woods said on a conference call with analysts.

Woods predicted shippers will “take some time” once the Strait of Hormuz reopens to believe transit is safe, adding further to market tightness.

The strong results from US oil giants come on the heels of massive profit increases at Shell and TotalEnergies that have prompted calls in some European countries to impose windfall profits taxes.

On Thursday, the Portuguese government approved a draft law imposing a windfall profits tax on the sector, saying the funds will benefit “families and sectors most impacted by fuel price increases,” as well as supporting investments to decarbonize the economy.

Woods, a frequent critic of European environmental policies, called windfall profits taxes “short-sighted,” saying such measures would “inflict more higher costs and lower standards of living on their population.”

Chevron’s results also benefited from increased refinery margins as well as higher crude prices, which came in at an average of $96.41 a barrel on international assets, up 64 percent from the year-ago period.

Another boost compared with the year-ago period came from increased upstream production after Chevron completed the acquisition of Hess in July 2025.

But Chevron also experienced some negative impacts from the war, pointing to reduced petroleum output from the “Partitioned Zone” between Saudi Arabia and Kuwait.

Results were also dented by reduced international refining runs because of a 10 percent drop in crude oil inputs.

ExxonMobil shares fell 1.9 percent near midday while Chevron climbed 1.4 percent.

Shipping companies have sharply reduced bookings for export containers from Bangladesh, creating fresh uncertainty for exporters and freight forwarders.

Representatives of importers, buying houses, shipping agents, and exporters said even when bookings are accepted, lead times have increased by up to three weeks in some cases, while freight rates have more than doubled. Freight to the USA has jumped from $4,500 per container a month ago to more than $11,000.

They alleged that shipping companies – also known as mainline operators (MLOs) – are deliberately creating an artificial shortage of container space to drive up freight rates.

Industry insiders warn that if the situation continues, exporters may have to switch to air freight, driving up logistics costs further. Over time, the added burden could fall on exporters and erode Bangladesh's competitiveness by prompting buyers to shift orders elsewhere.

MLO representatives, however, say the disruption is caused by shipping disruptions linked to tensions in the Middle East. Exceptionally strong demand from China is also leaving fewer booking slots for other countries, including Bangladesh, they add.

The major MLOs serving Bangladesh include Maersk, MSC (Mediterranean Shipping Company), CMA CGM, Hapag-Lloyd, COSCO, Evergreen Line, and OOCL.

DDP exporter suffering directly

The crisis is hitting exporters shipping under Delivered Duty Paid (DDP) terms directly as they bear freight costs until goods reach buyers' warehouses. Those exporting under Free on Board (FOB) terms are less directly affected because overseas buyers pay the ocean freight.

Shovon Islam, managing director of Sparrow Group, a leading garment exporter that ships under DDP, said most Bangladeshi exporters shipping under such terms are facing challenges.

"We are struggling to secure bookings for US-bound containers and are having to pay significantly higher freight rates," he told The Business Standard.

"Delayed shipments damages reputation and increases the risk of losing future orders. Besides, higher freight costs are pushing up our production costs," he said.

Neither the Bangladesh Garment Manufacturers and Exporters Association nor the Bangladesh Knitwear Manufacturers and Exporters Association has data on how many Bangladeshi exporters use the DDP model.

Freight cost doubles in a month

The Dhaka liaison office of US-based buying house Liang Fashion has spent nearly two weeks trying to secure bookings for 10 garment-laden containers bound for the US, despite approaching several MLOs, including Hapag-Lloyd and MSC.

Last week, the MSC informed the company by email: "Sorry we are unable to accept your booking currently. Our vessels have been fully booked for the next few weeks."

A senior Liang Fashion official, speaking on condition of anonymity, said the company eventually had to accept sharply higher freight rates for its 10 containers to secure space.

"Freight to New York has jumped from $4,500-$5,000 per container a month ago to as much as $11,400," he said. "Our containers will reach buyers two to three weeks late. That could hurt future orders, while our logistics costs are also rising."

He said most container shipments from Bangladesh to the US and Europe are facing booking delays and exorbitant freight rates.

Kabir Ahmed, managing director of Conveyor Logistics, said freight to Hamburg, Germany, has risen from about $2,500 a month ago to nearly $6,000 per container.

Kazi Iftequer Hossain, former president of the Bangladesh Garment Buying House Association, warned that the disruption could further weaken Bangladesh's exports.

"Bangladesh's exports are already under pressure. This latest crisis will further lengthen container transit times, hurting the country's export competitiveness," he said.

No industry body, however, could provide data on the number of exporters or containers affected, or the additional costs incurred.

Finger pointed at MLOs

Conveyor Logistics MD Kabir Ahmed alleged that MLOs have created an artificial shortage. "We believe they are acting in concert to reduce booking and drive up freight rates."

A senior executive at a Bangladesh-based shipping agency, speaking on condition of anonymity, echoed the claim. "Whenever the MLOs want to raise freight rates, they create this kind of artificial shortage," he told TBS.

Other Industry insiders said container bookings from China have surged in recent weeks, prompting shipping lines to allocate more capacity there.

They explained that Bangladesh does not typically receive direct calls from mother vessels, and export containers are first shipped by feeder vessels to transshipment hubs such as Colombo, Port Klang, and Singapore, where they are transferred to larger vessels bound for Europe and North America.

With more capacity being allocated to Chinese cargo, less space is available for containers from Bangladesh and other countries at these hubs. As a result, MLOs have reduced booking allocations from Chattogram.

Industry sources alleged that shipping lines are prioritising Chinese cargo because it generates higher returns, leaving fewer slots for Bangladesh and other countries.

MLOs deny allegations

A senior MSC official in Dhaka, speaking on condition of anonymity, acknowledged that booking allocations for Bangladesh had reduced, but said the cut was modest. "If we previously accepted bookings for around 2,000 containers, we are now taking about 1,500."

He said the disruption is caused by the conflict in the Middle East and continued disruptions in the Red Sea. "This is not a Bangladesh-specific problem; it is affecting global shipping."

The official also admitted that shipping lines are allocating more capacity to China because it is commercially more attractive. "Cargo from Bangladesh must first be transported by feeder vessels to transshipment ports, where additional loading, storage and handling costs are incurred. Those costs do not apply to cargo shipped directly from China," he said.

A senior official at Hapag-Lloyd's Bangladesh office also confirmed that freight rates from Bangladesh had surged because of the shortage of shipping space.

Crisis could worsen, adding pressure on exporters

Stakeholders warn the container space shortage could worsen in the coming months. While DDP exporters are bearing the immediate impact, they said even FOB exporters could eventually face pressure as higher logistics costs ripple through the supply chain.

A senior Hapag-Lloyd official in Bangladesh said the shortage is likely to intensify.

"If the situation worsens, we will have to revise our freight quotations. Eventually, part of the additional cost could be passed on to factories," he said.

Kabir Ahmed said exporters could increasingly be forced to use air freight, further raising costs.

A senior executive at a Dhaka-based buying house said sustained increases in freight costs would ultimately be passed on to suppliers. "We cannot absorb these additional costs indefinitely. Eventually, they will have to be reflected in product prices," he said.

He warned that if Bangladeshi exporters are unwilling or unable to absorb the higher shipping costs, international buyers could shift orders to competing sourcing destinations.

India said Friday it will provide $8.8 billion in financial support for offshore oil and gas exploration as part of its efforts to reduce its heavy reliance on energy imports.

India, the world’s third-largest importer of oil and the second-largest buyer of liquefied petroleum gas (LPG), has faced major disruptions due to restrictions on the Strait of Hormuz driven by conflict between the United States and Iran.

To cushion the impact, New Delhi has expanded its pool of crude suppliers from 27 to 41 countries, including Venezuela, while increasing purchases from Russia and several African nations.

The cabinet, chaired by Prime Minister Narendra Modi, approved what officials described as a “very ambitious” push to explore vast offshore areas on Friday under India’s jurisdiction for untapped oil and gas reserves.

“If exploration is carried out properly, India can achieve substantial production,” Information and Broadcasting Minister Ashwini Vaishnaw told reporters in New Delhi.

Modi first announced the offshore exploration mission during a speech marking the country’s Independence Day in August last year.

India’s Petroleum and Natural Gas Minister Hardeep Singh Puri told AFP last month that the recent energy crunch had provided fresh impetus to India to expand its domestic supplies.

India currently meets only around 10 percent of its crude oil requirements through domestic production.

The cabinet also approved a separate plan to expand renewable energy generation, targeting 102 gigawatts of solar power capacity over the next five years through photovoltaic installations on reservoirs, canals and industrial water bodies.

India’s installed solar capacity currently stands at about 162 gigawatts, among the highest in the world.

“This programme aims to prevent 10 million tonnes of CO2 emissions,” Vaishnaw said.

Energy demand in India, home to more than 1.4 billion people, is expected to continue rising rapidly even as the government pursues its goal of achieving carbon neutrality by 2070.

Listed multinational companies (MNCs) in Bangladesh delivered a resilient performance in the April-June quarter of 2026, with most reporting higher revenue and profit despite persistent inflation and the ongoing energy crisis.

Of the 13 MNCs listed on the Dhaka Stock Exchange, eight posted higher net profits while 10 recorded revenue growth. Together, the blue-chip companies had a market capitalisation of about Tk77,000 crore at the end of the quarter.

Reflecting strong cash generation, Grameenphone declared a 105% interim cash dividend, while Marico Bangladesh announced a 500% interim cash dividend.

Robi Axiata posted the highest quarterly profit at Tk263 crore. British American Tobacco (BAT) Bangladesh reported a 109% year-on-year profit growth to Tk203.67 crore, while Berger Paints Bangladesh doubled its profit to Tk173.2 crore from Tk86.5 crore a year earlier.

Berger attributed the sharp increase to strong sales, strategic price adjustments to offset higher raw material and packaging costs, lower interest expenses on UPAS loans and a reduced effective tax rate following favourable tax adjustments.

LafargeHolcim Bangladesh also maintained steady growth, reporting a net profit of Tk104.47 crore. Chief Executive Officer Iqbal Chowdhury said the performance reflected the company's strong brand equity, innovation and pricing discipline.

Singer Bangladesh and Bata Shoe returned to profit after posting losses in the same quarter last year.

Singer earned Tk13.58 crore but said sales remained below expectations due to persistent inflation, geopolitical uncertainty and adverse weather, which weighed on consumer demand for electronics. The company added that intense competition limited its ability to fully pass higher costs on to customers despite an improvement in margins.

Five MNCs, however, came under earnings pressure. Grameenphone remained the country's most profitable listed MNC, posting a net profit of nearly Tk759 crore, although this was down 14% year-on-year.

Marico Bangladesh's profit fell 12%, mainly because of higher raw material costs and lower finance income.

Unilever Consumer Care recorded the sharpest decline, with profit plunging 68% to Tk7.79 crore. The company attributed the fall to lower sales and the absence of a one-off gain recognised in the corresponding quarter last year following a reassessment of trademark and technology royalty obligations.

Heidelberg Materials Bangladesh was the only listed MNC to report a quarterly loss, posting a net deficit of Tk6.13 crore.

United Finance PLC has reported a stellar start to the 2026 financial year, with its net profit surging by 55.48% during the first half ended 30 June.

According to the company's financial results released on Wednesday, the non-bank financial institution earned a net profit of Tk5.03 crore in the January-June period, up from the corresponding period of the previous year.

The significant bottom-line growth pushed the company's earnings per share to Tk0.27 for the six months, compared to Tk0.17 in the first half of 2025. This robust performance was further highlighted by a 67% year-on-year increase in operating profit before provision, driven primarily by strong growth in net interest income and disciplined cost management.

In terms of business volume, United Finance recorded a steady expansion in its total portfolio, which reached Tk2, 349 crore. The company's lease, loan, and advance segment grew by 4.26%, while its deposit portfolio stood at Tk1, 465 crore – marking an 11.12% growth against December 2025. This double-digit growth in deposits reflects increasing customer confidence in the institution despite broader macroeconomic challenges.

United Finance has also positioned itself as a leader in sustainable banking. In the first half of 2026, a staggering 81% of its total disbursements were channelled into green and sustainable financing, significantly exceeding the targets mandated by the Bangladesh Bank.

On the technological front, the company's mobile app, UMA, has continued to streamline the customer journey through fully paperless services, including account opening and instant certificate downloads.

Commenting on the results, Mohammed Abul Ahsan, acting managing director of United Finance, attributed the performance to the company's "prudent risk management DNA and solid corporate governance."

He noted that these core strengths have allowed the firm to remain resilient and perform consistently even under macroeconomic stress.