Shibbir Ahmed, WASHINGTON DC — The United States has imposed sanctions on a Türkiye-based financial institution and two of its subsidiaries, accusing them of providing critical international banking access to Iran and facilitating tens of millions of dollars in transactions linked to the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF).

The U.S. Department of the Treasury announced the action Friday as part of Operation Economic Outcast, a broader campaign aimed at disrupting Iran’s access to international financial networks and cutting off revenue streams that Washington says support the Iranian regime’s regional activities.

The Office of Foreign Assets Control (OFAC) designated Golden Global Yatirim Bankasi Anonim Sirketi, also known as Golden Global Bank, under Executive Order 13902. Two Türkiye-based subsidiaries—Golden Global Varlik Kiralama Anonim Sirketi and Golden Global Portfoy Yonetimi Anonim Sirketi—were also designated.

According to the Treasury Department, Golden Global Bank provided correspondent banking services to Iranian financial institutions, allowing funds connected to Iran to move through the international financial system.

Treasury alleged that the bank was established to facilitate the transfer of Iranian oil revenues from China to Türkiye, where the proceeds could subsequently be converted into cash and gold through money exchangers associated with Iran’s financial networks.

The department also said the bank knowingly facilitated transactions involving accounts controlled by the IRGC-QF and its proxies. Treasury specifically cited a network connected to Turkish businessman Sitki Ayan and his companies, which the U.S. sanctioned in 2022 over alleged involvement in moving hundreds of millions of dollars related to IRGC-QF oil sales.

“Financial institutions continue to find out the hard way that we are serious about Operation Economic Outcast,” Treasury Secretary Scott Bessent said in announcing the action.

The Treasury said the latest sanctions are intended to send a warning to financial institutions around the world that facilitating Iranian sanctions evasion or illicit financial activity could result in restrictions on access to the U.S. financial system.

Part of broader pressure campaign

The action is the latest development in Operation Economic Outcast, which Treasury Secretary Bessent announced on Aug. 24. The campaign focuses on financial networks that the U.S. says Iran uses to generate revenue, evade sanctions and move money internationally.

Treasury said Iran’s existing U.S. sanctions have pushed the country toward multinational “shadow banking” networks that provide access to international financial channels, including U.S. dollar correspondent banking relationships.

Washington has increasingly targeted financial intermediaries outside Iran that it says help Iranian institutions access the global financial system. On Aug. 28, the Treasury Department announced measures targeting Iran’s access to banks in the United Arab Emirates, including a proposed rule that would restrict Banque Misr UAE’s correspondent banking access to U.S. financial institutions.

Sanctions take effect immediately

Under the latest action, property and interests in property belonging to the designated entities that are in the United States or under the possession or control of U.S. persons are blocked and must be reported to OFAC.

U.S. persons are generally prohibited from conducting transactions involving the blocked entities unless authorized by OFAC. The sanctions can also affect foreign financial institutions that knowingly conduct or facilitate certain significant transactions involving sanctioned persons.

OFAC said it has also issued Iran General License CC, which authorizes a limited wind-down of certain transactions involving persons blocked in the Sept. 4 action. The Treasury Department said it will continue identifying financial institutions and other intermediaries that provide Iran with access to international financial channels.

Washington has said the ultimate objective of the sanctions campaign is to pressure Tehran to abandon activities that the U.S. considers destabilizing, including support for armed groups in the Middle East and efforts related to its military capabilities.

Source: U.S. Department of the Treasury and Office of Foreign Assets Control (OFAC).

Shibbir Ahmed, New York — Bangladesh is set to take a prominent role at the United Nations as Foreign Minister Khalilur Rahman assumes the presidency of the 81st session of the UN General Assembly, which opens in New York on September 8.

Rahman was elected President of the 81st session on June 2, defeating Cyprus’s candidate Andreas Kakouris in a closely contested vote. The election placed Bangladesh at the center of one of the UN’s most important diplomatic forums at a time of growing geopolitical tensions and challenges to multilateral cooperation.

The 81st session will run from September 8, 2026, through September 7, 2027. During his one-year term, Rahman will preside over the General Assembly’s deliberations and high-level diplomatic engagements involving representatives of the UN’s 193 member states.

A critical moment for multilateralism

The theme of the 81st session is “Restoring trust and reigniting global solidarity.” The theme reflects the UN’s effort to rebuild confidence in multilateral institutions and strengthen international cooperation at a time when conflicts, humanitarian crises, economic uncertainty and geopolitical rivalries are placing pressure on the international system.

The General Assembly remains the UN’s principal policymaking and representative body, bringing together all 193 member states. Its annual high-level debate provides a platform for world leaders to address major international challenges and outline their countries’ priorities.

Bangladesh’s diplomatic opportunity

Rahman’s election gives Bangladesh an important diplomatic platform on the global stage. As President of the General Assembly, he will be responsible for guiding the Assembly’s proceedings, facilitating negotiations and encouraging dialogue among member states. The position does not give the president executive authority over the United Nations, but it carries significant diplomatic and political visibility.

For Bangladesh, the presidency provides an opportunity to highlight issues that are important to developing countries, including sustainable development, climate change, poverty reduction, migration, global peace and security, and greater international cooperation.

The presidency also comes at a time when developing countries are pressing for a stronger voice in global decision-making and for greater access to financing for development and climate action.

World leaders prepare for high-level week

The opening of the 81st General Assembly will be followed later in September by the UN’s annual high-level week, when presidents, prime ministers and other senior leaders gather in New York. The high-level segment is scheduled for September 22–28, bringing world leaders together for discussions on global cooperation and some of the most pressing international challenges. The gathering is expected to focus attention on ongoing conflicts, humanitarian emergencies, development, climate change and efforts to strengthen the international system.

Bangladesh at the center of UN diplomacy

Bangladesh has maintained a longstanding and active role in the United Nations, particularly on issues involving peacekeeping, development and the interests of developing countries. Rahman’s election to preside over the 81st General Assembly gives Dhaka a high-profile opportunity to contribute to discussions on how the international community can address increasingly complex global challenges.

The presidency will also require Bangladesh to maintain a balance between competing positions among UN member states while ensuring that the General Assembly’s work proceeds effectively. With the 81st session beginning on September 8, attention will now turn to Rahman’s opening priorities and the issues he intends to place at the center of the Assembly’s agenda.

For Bangladesh, the presidency represents both a diplomatic achievement and a significant responsibility as the country takes the chair of the world’s largest multilateral forum for the next year.

NEW DELHI — India hosted a meeting of senior officials from the Quad countries in New Delhi on Thursday, with the four nations reviewing ongoing initiatives and discussing ways to strengthen practical cooperation across the Indo-Pacific.

Indian Foreign Secretary Vikram Misri hosted the Quad Sherpas’ Meeting, which was attended by Elly Lawson, Deputy Secretary of the Strategic Planning & Coordination Group at Australia’s Department of Foreign Affairs and Trade; Hiroyuki Namazu, Japan’s Senior Deputy Minister for Foreign Affairs; and Sergio Gor, the U.S. Special Envoy to South and Central Asia and Ambassador to India.

The meeting followed the Quad Foreign Ministers’ Meeting held in New Delhi on May 26, 2026, and focused on implementing the outcomes of that meeting while preparing for the next gathering of Quad foreign ministers.

The Sherpas reviewed progress on a range of ongoing Quad initiatives and explored ways to deepen practical cooperation among Australia, India, Japan and the United States. The officials reiterated their shared commitment to promoting a free and open Indo-Pacific, amid evolving security, economic and geopolitical challenges across the region.

According to the media note, discussions covered several major areas of Quad cooperation, including maritime and transnational security, economic prosperity and security, critical and emerging technologies, and humanitarian assistance and emergency response.

The officials also exchanged views on developments across the Indo-Pacific as well as broader regional and global issues. The meeting placed particular emphasis on translating the Quad’s commitments into concrete and action-oriented initiatives, reflecting the grouping’s increasing focus on practical cooperation rather than solely diplomatic coordination.

The Sherpas reaffirmed the importance of continued consultations among the four countries and said they looked forward to further discussions ahead of the next Quad Foreign Ministers’ Meeting.

The Quad—comprising Australia, India, Japan and the United States—has increasingly focused on cooperation in areas ranging from regional security and maritime awareness to emerging technologies, economic resilience and disaster response. Thursday’s meeting in New Delhi is part of the continuing diplomatic process aimed at coordinating the group’s priorities and advancing initiatives across the Indo-Pacific.

Shibbir Ahmed, WASHINGTON DC — President Donald Trump has warned Iran that the United States is prepared to launch additional military strikes, as the latest round of fighting between Washington and Tehran threatens to widen into a broader regional conflict.

Trump’s warning came after U.S. forces conducted a major wave of strikes against Iranian targets, which the U.S. military said included air-defense systems, radar installations, maritime assets, mine-laying capabilities and communications facilities.

Speaking to reporters in the Oval Office on Wednesday, Trump said the United States had hit Iran “very hard” and was prepared to carry out another attack whenever he believed it was necessary. The warning came as Iran continued its retaliation against U.S. positions and regional countries hosting American forces.

Iran launches missiles and drones toward Kuwait

The conflict took another dangerous turn Thursday when Kuwait said its air-defense systems confronted incoming Iranian missiles and drones. Kuwait hosts several U.S. military facilities and has become increasingly exposed to the consequences of the widening U.S.–Iran confrontation. The Kuwaiti military said the attacks were hostile missile and drone strikes originating from Iran, although it did not immediately report casualties.

The latest attack follows Iranian strikes and attempted strikes against locations associated with U.S. forces across the Gulf and surrounding region. The developments have raised fears that the conflict could increasingly involve U.S. allies and partners, turning the confrontation between Washington and Tehran into a wider regional crisis.

U.S. strikes target Iranian military infrastructure

The Pentagon’s Central Command said the latest U.S. operation targeted Islamic Revolutionary Guard Corps facilities and military infrastructure. Among the targets were air-defense sites, radar systems, maritime equipment, communications facilities and capabilities that the United States says could threaten shipping through the strategically vital Strait of Hormuz.

The waterway is one of the world’s most important energy corridors, carrying a significant portion of global oil shipments. The renewed fighting has already disrupted commercial shipping through the area. Reuters reported Thursday that only six vessels passed through the Strait of Hormuz on Wednesday, compared with a normal daily average of about 13.

Civilian casualties increase pressure on Washington

The latest U.S. strikes have also generated concern over civilian casualties. Iranian officials reported that a strike in southern Iran hit a wedding gathering, with civilians among those killed and wounded. U.S. Central Command said the American military does not target civilians and said it was reviewing the reports.

Reuters reported Thursday that Iranian officials had reported 18 civilian deaths and more than 100 people wounded in the latest U.S. strikes. The competing claims have become another source of tension as the two sides present sharply different accounts of the conflict.

The United States maintains that its operations are directed against Iranian military capabilities, while Iranian officials accuse Washington of attacking civilian infrastructure and violating international law.

Iran reports military casualties

Iran has also suffered significant military losses during the latest American strikes. According to Iran’s semi-official Tasnim news agency, at least 13 Iranian military personnel have been killed in U.S. strikes this week. The reported dead include members of Iran’s regular military, the Islamic Revolutionary Guard Corps and its paramilitary forces.

The casualties come after a month-long lull in major direct hostilities. The latest fighting began again over the weekend, with the United States saying it had attacked Iranian launchers preparing to fire rockets into the Strait of Hormuz. Iran then retaliated against U.S.-linked targets in the region.

Gulf states caught between Washington and Tehran

The widening conflict is placing America’s Gulf partners in an increasingly difficult position. Countries including Kuwait, Bahrain, Qatar and the United Arab Emirates host important U.S. military facilities while maintaining their own relationships with the United States and other international powers.

Iran’s attacks or attempted attacks against locations in these countries raise the possibility that regional governments could become directly involved in the conflict even if they do not seek confrontation with Tehran.

Kuwait’s latest experience illustrates the problem. Although Kuwait is not a direct party to the U.S.–Iran war, its territory and military infrastructure are exposed because of the presence of American forces. Analysts have warned that Gulf states could face increasing pressure if Washington and Tehran continue exchanging attacks.

Strait of Hormuz becomes critical flashpoint

The Strait of Hormuz has emerged as one of the most important flashpoints in the conflict. The narrow waterway connects the Persian Gulf with the Gulf of Oman and the Arabian Sea and is critical to international energy markets. Any prolonged disruption could affect oil supplies, shipping costs and fuel prices around the world.

Oil markets reacted sharply to the latest escalation. Reuters reported Thursday that Brent crude rose to around $96 a barrel, while U.S. West Texas Intermediate crude approached $92 a barrel, putting both benchmarks near six-week highs. Higher energy prices could eventually increase transportation and consumer costs and add to inflationary pressures in the United States and other economies.

Pentagon prepares for a prolonged conflict

The military situation also suggests that Washington is preparing for the possibility that the conflict could last longer than initially expected.The Wall Street Journal reported Thursday that Defense Secretary Pete Hegseth has extended Middle East deployments into 2027. Approximately 50,000 U.S. troops remain in the region, supported by warships, air-defense systems, fighter aircraft and other military assets.

The deployment decisions indicate that, despite Trump’s public suggestion that the renewed campaign would not continue indefinitely, the Pentagon is maintaining a substantial military presence in the region.

That creates a complicated policy situation for the Trump administration. On one hand, the president has signaled that he wants to maintain pressure on Iran and has repeatedly warned Tehran against attacking American forces. On the other, prolonged military operations carry significant costs and risks, particularly if American forces become increasingly exposed to Iranian retaliation.

Political pressure grows ahead of midterm elections

The conflict is also unfolding against the backdrop of the November 2026 midterm elections. Reuters has reported that some Trump administration officials want to avoid allowing the war to dominate the political environment before voters go to the polls, while internal discussions have continued over whether the military campaign should be expanded or brought toward an end.

That creates a difficult political calculation for the White House. A continued military campaign could increase pressure over casualties, military spending and civilian deaths.But stepping back without achieving the administration’s stated objectives could create its own political challenges.

Trump has attempted to maintain flexibility, suggesting that the United States can strike again if necessary while also indicating that the renewed campaign will not necessarily continue indefinitely.

No clear diplomatic breakthrough

Despite occasional references to diplomacy, there is currently no clear indication of a comprehensive agreement between Washington and Tehran that would bring the conflict to an end. Instead, the latest developments point toward continued military pressure and retaliation.

The danger is that an attack initially directed at U.S. or Iranian military targets could trigger a chain reaction involving Gulf states, commercial shipping or other regional actors. The reported Iranian attack on Kuwait demonstrates how quickly the geographic scope of the conflict can expand.

A conflict with global consequences

The U.S.–Iran confrontation is no longer simply a bilateral military dispute. It has become a major international security and economic issue. The conflict is affecting shipping through the Strait of Hormuz, pushing oil prices higher and forcing Gulf governments to strengthen their defenses. It is also placing thousands of American service members across the Middle East in an increasingly dangerous environment.

For Iran, continued U.S. strikes threaten military infrastructure and economic interests while creating pressure on Tehran to demonstrate that it can retaliate. For Washington, the central challenge is balancing military pressure against the risk of a wider war.

Trump’s latest warning that the United States can launch another strike whenever it chooses underscores the uncertainty. Whether that warning becomes another military operation or part of a broader effort to force Iran back toward negotiations could determine the next phase of the conflict.

For now, however, the message from Washington is clear the United States has not ruled out further strikes, while Iran continues to retaliate. And with Gulf states increasingly exposed and the Strait of Hormuz under growing pressure, the consequences of the next move could extend far beyond the battlefield.

Shibbir Ahmed, WASHINGTON DC — President Donald Trump has signed a short-term government funding bill designed to keep the U.S. federal government operating through December 11, averting the threat of another government shutdown just weeks before the November midterm elections.

Trump signed the legislation Wednesday, September 2, after the U.S. House of Representatives approved the measure by an overwhelming bipartisan vote of 370–48. The Senate had already approved the legislation in August.

The measure, known as a continuing resolution, extends federal funding beyond the beginning of the new fiscal year on October 1. It largely maintains existing funding levels while giving Congress additional time to negotiate and approve the full set of spending bills needed to finance the federal government through fiscal year 2027.

Shutdown threat pushed beyond midterm elections

Without congressional action, federal funding was scheduled to expire at the end of September. That would have raised the possibility of a government shutdown during the final weeks of the midterm-election campaign. Instead, lawmakers have moved the deadline to December 11.

The timing is politically significant. Americans will vote in the November 3 midterm elections, and both Republicans and Democrats had strong incentives to prevent another prolonged disruption of federal services during the campaign season. The legislation gives Congress roughly two additional months to negotiate a longer-term agreement.

However, the agreement does not resolve the underlying budget dispute. Congress still has to complete the regular appropriations process covering major areas of federal spending, including defense, housing, energy and homeland security.

Bipartisan House vote

The House vote demonstrated unusually broad support for the temporary measure. The bill passed 370–48, reflecting support from members of both parties. Its passage followed the Senate’s earlier approval in August, allowing the legislation to reach Trump’s desk before the September 30 funding deadline. The overwhelming vote also underscored the political desire in Washington to avoid another shutdown. The United States experienced major funding disruptions during Trump’s second presidency, making another shutdown particularly politically risky as voters prepare to go to the polls.

What happens next?

The immediate crisis has been postponed, but the budget battle is far from over. Congress must now return to the more difficult task of reaching agreement on full-year appropriations for fiscal year 2027. The December 11 deadline will give lawmakers another opportunity to negotiate, but it also creates a new potential funding showdown later this year.

The outcome of the November elections could significantly influence those negotiations. If control of either chamber changes, the political balance surrounding federal spending, taxation, immigration, defense and domestic programs could shift substantially. For now, however, federal agencies have greater certainty that funding will continue beyond October 1.

A temporary solution, not a permanent budget

The legislation should therefore be viewed as a temporary political compromise rather than a final budget agreement. A continuing resolution allows the government to operate while Congress works toward completing its annual appropriations bills. It prevents the immediate disruption associated with a funding lapse but leaves many of the major disagreements unresolved.

The temporary agreement also means that the next major budget confrontation is likely to occur after the midterm elections, when lawmakers return to Washington with a new political landscape.

For federal employees, contractors and millions of Americans who depend on government services, the immediate message is straightforward: there will be no federal government shutdown at the beginning of October because of the current funding deadline.

But Washington’s budget battle has only been delayed. The next deadline — December 11, 2026 — could once again put Congress and the White House under pressure to reach a deal. With the midterm elections approaching and major disagreements over federal spending still unresolved, the temporary peace in Washington may prove to be just that — temporary.

Shibbir Ahmed, WASHINGTON, D.C. — President Donald J. Trump will mark the 25th anniversary of the September 11, 2001, terrorist attacks at the Pentagon on September 11, while Vice President JD Vance is expected to represent the Trump administration at the annual memorial ceremony in New York City. The developments come as the White House prepares for a separate September 8 commemoration featuring a massive piece of World Trade Center steel at the White House.

On September 8, Trump is expected to host 9/11 first responders and other officials as the “Steel Across America” tour arrives in Washington. A 21-foot-long, 16,900-pound steel beam recovered from the South Tower of the World Trade Center will be displayed on the White House Ellipse. Trump and Tunnel to Towers Foundation CEO Frank Siller are expected to speak at the event.

The Tunnel to Towers Foundation launched the nationwide Steel Across America campaign to carry the historic World Trade Center beam through communities across the country ahead of the 25th anniversary of the attacks. The tour is intended to connect Americans with the history of September 11 and honor the victims, first responders and military veterans whose lives were changed by the attacks and their aftermath.

Trump to observe 9/11 at Pentagon

On September 11, Trump will attend the official 9/11 observance at the Pentagon rather than the annual ceremony at the National September 11 Memorial & Museum in Lower Manhattan. Trump confirmed that he would commemorate the anniversary at the Pentagon, one of the three locations directly targeted on September 11, 2001. The president also marked the anniversary at the Pentagon last year.

Vice President JD Vance is expected to attend the memorial ceremony at the World Trade Center site in New York City. The New York ceremony traditionally focuses on the victims and their families and does not feature political speeches. Family members read the names of those killed in the attacks, while moments of silence mark the timeline of the attacks and their aftermath.

The 2026 observance will carry particular significance as the United States marks 25 years since the September 11 attacks, which killed nearly 3,000 people and reshaped U.S. national security and foreign policy for decades.

Trump’s decision to attend the Pentagon rather than the New York ceremony has drawn attention because he is a native New Yorker and had previously been expected to participate in the Ground Zero commemoration. Trump has rejected reports that his decision was related to restrictions on political speeches at the New York memorial.

The three major sites of the September 11 attacks — New York, the Pentagon and Shanksville, Pennsylvania — will all be represented in the nation’s 25th-anniversary commemorations, with administration officials expected to participate in ceremonies across the three locations.

For the Trump administration, the September 8 White House event and the September 11 Pentagon ceremony will provide two separate opportunities to honor the victims, first responders and military personnel connected to the attacks and the wars that followed.

Shibbir Ahmed, United Nations, New York: The devastating floods in Nepal and recent wildfires in Europe should serve as a wake-up call for the world to take more urgent action against the growing risks of climate change, said Mafalda Duarte, Executive Director of the Green Climate Fund (GCF).

In an interview with Agence France-Presse (AFP) in Palau, Duarte said climate change was receiving less urgency in global politics than other major crises. While the international community has demonstrated the ability to mobilise large amounts of funding quickly in response to wars, conflicts and other emergencies, climate-related challenges have not received a similar response, she said.

Duarte warned that the world is moving closer to several climate “tipping points”, beyond which reversing environmental damage could become increasingly difficult or even impossible.

“We can mobilise money quickly when we choose to respond to an emergency,” Duarte said, stressing that climate change should be treated with the same sense of urgency.

She cited Nepal’s recent floods, along with heatwaves and wildfires in Europe, as examples of the increasingly widespread impacts of climate change. According to Duarte, climate-related disasters are no longer confined to developing countries. Both developed and developing nations are increasingly facing the consequences of a changing climate.

Growing Concern Over Nepal Disaster

The recent floods and landslides in Nepal’s Himalayan region have caused extensive destruction and raised fresh concerns about the vulnerability of mountain communities to extreme weather events. The disaster occurred in the Himalayan region near the Nepal-China border, with sudden flows of water and large amounts of debris affecting several areas.

Nepal’s Prime Minister Balendra Shah has also described the disaster as a serious warning about the growing risks associated with climate change and called for stronger international action to support countries vulnerable to climate-related disasters.

Experts say rising global temperatures are contributing to changes in Himalayan glaciers, snow cover and other environmental conditions, potentially increasing the risks of floods, landslides and glacier-related disasters. However, determining the precise contribution of climate change to any individual disaster requires further scientific analysis.

Concerns Over Climate Finance

The Green Climate Fund provides financial support to developing countries for climate adaptation, resilience and efforts to reduce greenhouse-gas emissions. According to the BSS/AFP report, the fund has invested about $19 billion across 134 developing countries.

However, concerns remain over the future of international climate finance. The report said the United States withdrew from the fund in January, while Britain halved its contribution in May. Duarte stressed that climate-vulnerable countries need faster and more accessible financing to prepare for and respond to the growing impacts of climate change.

Pacific Region Sees Increased Investment

Duarte is currently in Palau, where leaders of Pacific island nations are attending their annual summit. For many of these small island states, climate change represents a major threat to their security, economies and long-term survival. The Green Climate Fund has increased its investment in the Pacific region significantly. Over the past three years, its investment there has doubled to around $1 billion.

Duarte acknowledged that accessing climate finance remains difficult for many small island nations. She said efforts were under way to streamline the process, with the average approval period now taking about nine months.

Tina Stege, the climate envoy of the Marshall Islands, has also called for faster and more tangible progress on climate finance. She expressed frustration over the limited funding available through the separate United Nations-backed “loss and damage” mechanism, which is intended to help vulnerable developing countries address the impacts of climate-related disasters.

Duarte said there was still time to act on climate change, but the window for effective action was narrowing. She urged governments and the international community to move faster, increase climate financing and work together to address the growing risks posed by a warming planet.

DHAKA – LGRD and Cooperatives Minister Dr Abdul Moyeen Khan has expressed hope that the World Bank will further strengthen its support for the country’s sustainable development and improvement of people’s quality of life. He said various government initiatives are underway in important areas such as water supply, sanitation, rural development and addressing the impacts of climate change.

Continued support from development partners is necessary to make these activities more effective and sustainable, he said when World Bank Division Director for Bangladesh and Bhutan Jean Pesme paid a courtesy call on him at his office at the Secretariat today.

Various issues including the World Bank’s support for various ongoing development projects in Bangladesh, water supply and sanitation systems, rural development, climate change and local government sector were discussed.

The minister said the government and development partners need to work in coordination to accelerate and sustain the country’s development activities. He said WB support could play an important role in strengthening the capacity of the local government sector and ensuring quality civic services reach people at their doorsteps.

The minister expressed gratitude for the World Bank’s longstanding support for Bangladesh’s development journey and hoped that the bank would continue its support for the country’s key development initiatives in the future.

During the exchange of views, emphasis was placed on further strengthening the existing cooperation between Bangladesh and the World Bank. LGD Md Shahidul Hassan, senior officials from the ministry and the WB were present at the meeting.

Shibbir Ahmed, Washington DC: Nearly 600,000 jobs in Bangladesh could be at risk if the economic fallout from the ongoing Middle East conflict persists, according to a World Bank assessment. The warning comes as Bangladesh faces rising fuel prices, severe gas shortages, disruptions to fertilizer production and growing pressure on industries and household incomes.

The World Bank’s mid-June assessment, prepared as part of a proposed Contingent Emergency Response Project, said the conflict could significantly weaken Bangladesh’s economic recovery and slow the pace of poverty reduction.

The assessment estimates that the number of people expected to move out of poverty in 2026 could fall from around 1.7 million to about 500,000 because of the conflict. Bangladesh had already been facing rising poverty. The World Bank estimated that the number of poor people increased by about 1.4 million in 2025, as weak job creation, slow growth in labor incomes and persistent inflation reduced the poverty-reducing impact of economic growth.

Energy crisis adds to pressure

The energy sector is among the areas most severely affected. Natural gas accounts for more than half of Bangladesh’s primary energy supply, while domestic gas production has fallen significantly from its 2016 peak. The country also relies heavily on the Middle East for imported energy, sourcing about 60–65% of its crude oil and 55–60% of its LNG from the region.

The conflict has disrupted LNG supplies, with five of Petrobangla’s six LNG supply contracts reportedly placed under force majeure. Spot LNG prices have risen to around $24–$28 per million British thermal units (MMBtu), more than double their previous level.

Higher energy costs are also expected to put additional pressure on inflation. The World Bank assessment said that passing higher energy prices on to consumers could increase inflation by more than 0.5 percentage points, with further effects on food and non-food prices.

Fertilizer production disrupted

Bangladesh’s agriculture sector is also vulnerable to the crisis. Gas shortages have forced five of the country’s six domestic urea fertilizer plants to suspend production, while international urea prices have increased by around 30%. The World Bank warned that fertilizer prices could potentially rise much further if the disruption continues, increasing production costs for farmers and putting additional pressure on food prices.

Smallholder farmers, who represent a significant share of Bangladesh’s population, could be particularly exposed to higher input costs and supply disruptions.

Industries and workers under pressure

The energy crisis is also affecting industrial activity. Factory operating hours, production and new industrial gas connections have reportedly been affected, while some businesses have faced rising operating costs.

The World Bank’s projection of nearly 600,000 jobs at risk reflects the broader economic consequences of higher energy costs, supply disruptions, weaker production and inflation. Economists have also pointed to signs of the crisis already appearing in the labor market, including factory closures, reduced working hours and job losses.

Government finances face additional strain

The crisis could also increase pressure on Bangladesh’s public finances. Higher energy subsidies could substantially increase government expenditure, potentially reducing the fiscal space available for social protection and emergency programs, according to the World Bank assessment.

The World Bank has already approved $1.1 billion in emergency financing for Bangladesh to help protect food security, support vulnerable households and businesses, and address volatility in global fertilizer and fuel markets.

Risk, not a confirmed job-loss figure

The World Bank’s figure of nearly 600,000 should be understood as a projection of potential job losses if the crisis continues, rather than a confirmed number of workers who will definitely lose their jobs.

The final impact will depend on how long the Middle East conflict lasts, global energy and fertilizer prices, supply conditions and Bangladesh’s ability to manage the economic shock. For Bangladesh, however, the warning highlights the vulnerability of an economy already struggling with inflation, weak job creation and limited fiscal space.

Source: World Bank assessment on Bangladesh’s proposed Contingent Emergency Response Project.

Shibbir Ahmed, Washington, D.C.: The United States House of Representatives has taken a major step to avert a potential government shutdown, overwhelmingly passing a short-term federal funding bill on Tuesday.

The measure passed by a vote of 370–48 and would keep the federal government funded through December 11, 2026. The bill has now been sent to President Donald Trump for his signature. The Senate had already approved the measure on August 8.

The vote came as Congress has yet to complete the full set of spending legislation needed to fund the federal government for fiscal year 2027. The new fiscal year begins on October 1. With lawmakers unable to complete the 12 regular appropriations bills, Congress turned to a temporary funding measure to prevent federal agencies from running out of money at the start of the new fiscal year.

The House vote received strong bipartisan support. According to the official House Clerk’s voting record, 193 Republicans, 176 Democrats and one Independent voted in favor of the measure. Nineteen Republicans and 29 Democrats voted against it, while 14 members did not vote.

The legislation, H.R. 6500, is a continuing appropriations measure designed to maintain federal government funding on a temporary basis. By extending current funding through December 11, it removes the immediate threat of a shutdown that otherwise could have begun when existing funding expires on October 1.

The Senate passed the measure on August 8. Following Tuesday’s House approval, the legislation was sent to President Trump. Once signed, it will become law and provide temporary funding for federal operations through December 11.

However, Tuesday’s vote does not resolve the broader budget dispute facing Washington. Instead, it postpones the most difficult funding decisions until later in the year. Congress will still need to negotiate and approve the full set of appropriations measures for fiscal year 2027 before the December 11 deadline.

The timing of the agreement also carries significant political implications. The United States is scheduled to hold its midterm elections on November 3, and lawmakers from both parties have a strong incentive to avoid a government shutdown during the final weeks of the campaign. A shutdown could disrupt federal services, affect government workers and create additional political pressure ahead of the elections.

The temporary funding agreement therefore allows Congress to move the broader budget confrontation beyond the November elections. Lawmakers will have additional time to negotiate the government’s full-year spending plans after the election.

The bill also contains funding provisions for specific areas. Among them is $1.2 billion in additional funding related to the continued construction of Virginia-class and Columbia-class submarines, according to information released by congressional lawmakers.

Despite the overwhelming bipartisan vote, disagreements between Republicans and Democrats over federal spending and policy priorities remain unresolved. Some Republicans opposed the measure over policy concerns, while Democrats have also criticized aspects of the administration’s spending and policy agenda.

Nevertheless, Tuesday’s vote represents a significant bipartisan effort to keep the federal government operating and prevent an immediate shutdown.

For now, Washington has avoided another shutdown crisis. But the underlying budget battle has not gone away. As the December 11 deadline approaches, Congress will once again face the question of whether it can reach agreement on the full fiscal year 2027 spending bills—or whether the United States will once again face the threat of a government shutdown.