Oil prices jump on China demand and Ukraine escalation

The recent escalation in the Middle East, associated with intensified Israeli military operations in Gaza, has drawn constant global attention. The war has made ripple effects on Lebanon, Yemen and Iran, alongside uprising mass in many regions.

After the fall of former Prime Minister Sheikh Hasina on 5 August, many aspects of India-Bangladesh relations have slowed down significantly. The suspension of India’s visa service is one of the most remarkable instances as it has sparked public discontent. In the wake of Sheikh Hasina fleeing to India, it suspended tourist visas indefinitely, citing the instability in Bangladesh.

In the aftermath of Sheikh Hasina`s ouster from power, the relationship between neighbours Bangladesh and India seems to have gone cold. The former prime minister was considered pro-India, and many believe she gave India undue privileges to cement her hold on power. So, the anti-Hasina sentiment has rubbed off on India so much so that anti-India slogans were heard during the July Uprising. 

In the U.S. presidential election on November 5, Donald Trump of the Republican Party won a decisive victory, and he is scheduled to succeed Joe Biden as the U.S. president on January 20, 2025. The upcoming change in the U.S. administration is likely to substantially affect ties between Bangladesh and the United States, in areas including politics, the economy, migration, strategic and security ties, climate change, and humanitarian cooperation.

A major contributor to Bangladesh’s GDP, remittance has long been a pillar of the country’s steady economic growth and resilience. Remittance or expatriate income is currently in the best position among the primary indicators of the nation’s economy. After continuing to expand in August and September, the remittance inflow is gaining significant traction in October as well, indicating not just the expatriate community’s tenacity but also their restored faith in the economic security of their country.