TBS Bulletin: What happened in past five days

Since Friday (19 July), we were rendered incapable of serving our online readers the current news due to internet disruptions. With connections restored, we are now bringing you the top headlines that you may have missed.

For quota reform related news, follow our page.

19 July (Friday)

Supply chain disrupted, export-import hampered; fare doubles

The nationwide shutdown programme demanding quota reforms has slowed down the country's economic activities and import and export transportation, leading to soaring costs, shipment delays, and supply chain disruptions.

Businesses said the resulting economic strain threatens to undermine business operations already under pressure from nearly two years of stubbornly high inflation, a dollar crisis and taka devaluation.

Cenbank sticks to tight monetary policy; keeps rates, crawling peg steady

While many central banks worldwide considered lowering policy rates this year due to moderate global prices, the Bangladesh Bank maintained its stringent monetary policy stance for the first half of FY25 (July-December) amid persistently high inflation.

In its latest policy update, the central bank kept policy rates unchanged, noting that the country's economy has started to respond to the contractionary measures implemented over the past year, which included significant increases in money rates.

Cotton dominates Ctg port imports, high-speed diesel oil leads revenue charts

Chattogram Port experienced significant cotton imports valued at Tk35,968 crore during the fiscal 2023-24, making it the highest assessed product imported through the port.

According to Chattogram Custom House data, 14.40 lakh tonnes of cotton were imported during this period.

Cotton imports primarily serve as raw material for Bangladesh's export-oriented garment industry, benefiting from duty-free privileges. Consequently, despite its high import value, no revenue is generated for the government from cotton imports.

Govt to update, verify allowance list for widows, abandoned women

The government will update and verify the list of widows and abandoned women who receive monthly allowances under the social safety net programme.

A circular issued by the Ministry of Social Welfare states that allowances will be cancelled for beneficiaries who remarry or return to live with their husbands. Additionally, if a beneficiary permanently relocates and does not return to her original area within a year, her name will be removed from the list.

20 July (Saturday)

How internet blackout cripples the economy

Complete internet blackout nationwide since 9pm Thursday night has crippled the economic activities, especially those that are internet-based.

From export and import to mobile financial transactions, app-based banking, air-ticketing, e-commerce services, mobile re-charge, bill payments and port activities – everything was rendered virtually inoperable.

For example, Custom House in Chattogram Port handles on average 5,000 export bill of entries and 2,000 for imports daily and the valuation of these export and import goods are made online. But the service is completely halted due to internet blackout since Thursday night.

Internet outage throws Dhaka airport into chaos, 70 flights delayed

The nationwide internet shutdown amid the ongoing violence centering the quota reform protests has thrown flight operations at the Hazrat Shahjalal International Airport in Dhaka into disarray.

Airlines have been facing hurdles in conducting flight operations since Thursday evening as they could not maintain online communications and resorted to the manual mode, resulting flight delays.

At least 70 flights of various airlines including the national flag carrier Biman and US- Bangla were delayed on Friday, according to airlines sources.

Internet issues worry apparel exporters about shipment

Apparel exporters have lost contact with their global buyers because of internet blackout since Thursday night, which they fear might lead to shipment delays and costly air freight, according to industry insiders.

The blackout in the midst of student movement for reform in government job quota has also affected their product design development and production process as much of these is based on internet, they said.

Besides, transportation of cargos has been severely hampered because of the nationwide protest, which they worry may cause shipment delay and lead to costly air freight.

21 July (Sunday)

Repairing 2 Metro stations may take a year: DMTCL secretary

It may take one year to repair Kazipara and Mirpur-10 Metro rail stations that were vandalised on Friday night amid students' protests, said Abdur Rouf, secretary of Dhaka Mass Transit Company Limited (DMTCL).

BNP accuses govt for students' deaths, demands resignation

The BNP has held the ruling Awami League government accountable for the killings of people, including students, in the ongoing nationwide unrest, and demanded resignation of the government.

PM cancels official visit to Spain, Brazil: Hasan Mahmud

Prime Minister Sheikh Hasina cancelled her official visit to Spain and Brazil, considering the current situation.

Livelihood at stake for ride-sharers, delivery men amid internet blackout, curfew

More than 1.2 lakh bike trips and around 35,000 car trips were taking place every day in the country by ride sharing drivers before, said Fahim Ahmed, CEO of Pathao, a leading platform for ride hailing, food delivery and also smart logistics.

"At least 50,000 individuals depend on this income and now they are earning nothing due to the situation in the country," he added.

Mobile recharge down 40% while people spending more on voice calls, SMS

The internet blackout later coupled with a nationwide curfew reduced daily mobile recharge by around 40% as buying balance became inconvenient for the people already habituated with app-based recharge.

UK 'deeply concerned' by violence in Bangladesh

Expressing deep concern over the current situation, the United Kingdom urged all sides in Bangladesh to immediately end violence and find a peaceful way forward.

22 July (Monday)

Chiefs of three services meet PM Hasina

Chiefs of three services met Prime Minister Sheikh Hasina on Sunday to discuss the current situation in the country.

BNP-Jamaat turned peaceful quota reform protest violent, destructive: FM to diplomats

Foreign Minister Hasan Mahmud told the foreign missions in Dhaka that anti-liberation and anti-state elements and religious extremists, including the BNP-Jamaat clique, infiltrated the peaceful quota reform movement of students and turned it extremely violent and destructive.

He also expressed regrets for the unwarranted disruption of daily life caused by the recent episode of violence at a "diplomatic briefing" held yesterday in state guest house Jamuna.

Ctg port grinds to halt in the wake of internet shutdown

Thousands of export-import containers were stranded at the Chattogram Port and inland container depots as Customs and port authorities could not give clearance for the last few days due to the nationwide internet blackout since 9pm Thursday.

According to officials, around 6,000 export containers were stranded in 19 inland container depots and exporters have already missed their shipment schedules mostly to their European and US buyers. Also, 41,000 containers loaded with imported goods are in the port.

Internet blackout hits freelancers hard

More than 6 lakh freelancers of the total workforce are registered with the global online freelancing platforms such as Upwork and 3.5 lakh of them are getting work there on a regular basis. At least 1 lakh were joining the online workforce every year to earn as freelancers, while many of the experienced ones leave platforms to directly work with selected online clients after securing a profile.

Registered online freelancers collectively contribute about $150 million in service export earnings yearly. Meanwhile, a larger amount of earnings goes unaccounted for due to various reasons.

23 July (Tuesday)

Unrest, shutdown, curfew leave industries limping

Some industries in the country were in still recovery from the pandemic, some were coping with Ukraine war shock, and some were even thriving. Unprepared and unwary, they are all now shaken by the horror of the recent unrest on the streets and the total brake in the economy's wheels.

Violence, internet blackout, shutdown of banks, and curfew have created a mountain of loss that may keep many industries reeling for years to come.

Banks unable to make foreign payments, face additional charges

Banks may have to pay additional interests against their payments related to letters of credit (LCs) and repayment of foreign loans because of internet blackout and general holidays announced by the government for an extended period.

Supermarket sales plummet amid curfew, internet blackout

The persisting supply and demand shock dragged down supermarket sales since Thursday, making life harder.

Sales were down by around 30% by Friday and after curfew with some recovery it is still around 17-18% down from the usual business days, said Sabbir Hasan Nasir, managing director of the country's largest supermarket chain Shwapno.

Customs houses trying to start export-import process manually

In an effort to ease the owes of export and import businesses amid a prolonged internet blackout, the country's custom houses are trying to clear consignments — especially perishable goods, industrial raw materials and food items — manually.

Khatunganj traders face Tk10,000 loss in five days

Business in Chattogram are suffering hefty losses as amid protests coupled with ongoing curfew and internet blackout for the last few days.

No charges for late payments of loans, credit card bills: Banks

Banks on Monday announced that they will not charge additional fines for late payments of loans and credit card bills, considering the general holidays and nationwide internet blackout.

Violence, curfew: Chicken, fish, dairy farms face feed crisis, sales decline

Fish, chicken meat, egg and milk producers are facing severe trouble in marketing their products and purchasing feeds due to supply chain disruptions and interruptions in financial transactions amid nationwide curfew imposed to control the violent situation in connection with quota protests.