Bangladesh ex-PM Khaleda Zia dies aged 80
Bangladesh’s former prime minister Khaleda Zia, who many believed would sweep elections next year to lead her country once again, died on Tuesday aged 80, her Bangladesh Nationalist Party said.”The BNP Chairperson and former prime minister, the national leader Begum Khaleda Zia, passed away today at 6:00 am (0000 GMT), just after the Fajr (dawn) prayer,” the party said in a statement.”We pray for the forgiveness of her soul and request everyone to offer prayers for her departed soul,” it added.Despite years of ill health and imprisonment, Zia vowed in November to campaign in elections set for February 2026 — the first vote since a mass uprising toppled her arch-rival Sheikh Hasina last year.The BNP is widely seen as a frontrunner.But in late November she was rushed to hospital, where, despite the best efforts of medics, her condition declined from a raft of health issues.Nevertheless, hours before her death, party workers had on Monday submitted nomination papers on her behalf for three constituencies for the polls.During her final days, interim leader Muhammad Yunus called for the nation to pray for Zia, calling her a “source of utmost inspiration for the nation”.BNP’s media chief Moudud Alamgir Pavel also confirmed Zia’s death to AFP.Zia was jailed for corruption in 2018 under Hasina’s government, which also blocked her from travelling abroad for medical treatment.She was released last year, shortly after Hasina was forced from power.There had been plans earlier this month to fly her on a special air ambulance to London, but her condition was not stable enough.Her son, political heavyweight Tarique Rahman, only returned to Bangladesh after 17 years in self-imposed exile on Thursday, where he was welcomed back by huge crowds of joyous supporters.Rahman will lead the party through the February 12 general election, and is expected to be put forward as prime minister if his party wins a majority.Bangladesh’s Prothom Alo newspaper, who said that Zia had “earned the epithet of the ‘uncompromising leader'”, reported that Rahman and other family members were by her side at the time of her death.”The lives of politicians are marked by rises and falls,” the newspaper wrote on Tuesday.”Lawsuits, arrests, imprisonment, persecution, and attacks by adversaries are far from uncommon. Khaleda Zia endured such ordeals at their most extreme.”
Precious metals fall again, Asian stocks swing as traders wind down
Precious metals extended losses Tuesday on profit-taking after hitting recent records, while equities fluctuated in quiet trade as investors wound down ahead of the New Year break.Traders were taking it easy in the last few days of 2025 following a stellar 12 months that have seen tech firms push several stock markets to all-time highs, while bitcoin, gold and silver have also enjoyed multiple peaks.Minutes from the Federal Reserve’s most recent policy meeting — at which it cut interest rates a third straight time — are due to be released later in the day and will be scanned for an idea about whether a fourth can be expected in January.The US central bank’s monetary easing in the back end of this year has been a key driver of the markets’ rally, compounding a surge in the tech sector on the back of the vast amounts of cash pumped into all things AI.It has also helped offset recent worries about a possible tech bubble and warnings that traders might not see a return on their investments in artificial intelligence for some time.Still, Asian markets have enjoyed a healthy year, with Seoul’s Kospi piling on more than 75 percent and Tokyo’s Nikkei 225 more than 25 percent — both having hit records earlier in the year.Still, both edged down Tuesday, with Shanghai, Sydney and Taipei also lower. Hong Kong, Singapore, Wellington and Jakarta rose. The mixed performance followed losses for all three main indexes on Wall Street.The big moves of late have been seen in precious metals, with gold hitting a record just shy of $4,550. Silver, meanwhile, topped out at $84 after soaring around 150 percent this year.Investors have been piling into the commodities on bets for more US rate cuts, a weaker dollar and geopolitical tensions.Silver has also been boosted by increased central bank purchases and supply concerns.However, both metals have pulled back sharply this week on profit-taking, with gold now around $4,340 and silver at $73.50.Oil dipped, having jumped more than two percent Monday when investors rowed back bets on peace talks to end Russia’s war with Ukraine as a meeting between US President Donald Trump and Ukrainian counterpart Volodymyr Zelensky ended with little progress.That surge followed Friday’s similar-sized rally on optimism for a breakthrough to end the nearly four-year conflict.An end to the war could see sanctions on Russian oil removed, which would see a huge fresh supply hit the market.Bitcoin, which has tumbled since spiking above $126,000 in October, was stabilising just below $90,000 after a shaky end to the year.- Key figures at around 0230 GMT – Tokyo – Nikkei 225: DOWN 0.1 percent at 50,465.35 Hong Kong – Hang Seng Index: UP 0.2 percent at 25,675.05Shanghai – Composite: DOWN 0.3 percent at 3,954.87Euro/dollar: UP at $1.1770 from $1.1766 on MondayPound/dollar: DOWN at $1.3499 from $1.3504Dollar/yen: UP at 156.30 yen from 156.06 yen Euro/pound: UP at 87.20 pence from 87.00 pence West Texas Intermediate: DOWN 0.3 percent at $57.91 per barrelBrent North Sea Crude: DOWN 0.3 percent at $61.75 per barrelNew York – Dow: DOWN 0.5 percent at 48,461.93 (close)London – FTSE 100: FLAT at 9,866.53 (close)
End of an era as Bangladesh ex-PM Zia dies
Bangladesh’s three-time prime minister Khaleda Zia, who hoped to lead her nation one last time after elections next year, died on Tuesday aged 80.Zia, a dominant figure for decades in the South Asian country’s turbulent power struggles, had vowed to run in elections next year, the first since a mass uprising toppled her arch-rival.Despite years of ill health and imprisonment, just last month Zia had promised to campaign in elections expected in February 2026, in which her Bangladesh Nationalist Party (BNP) is widely seen as a frontrunner.”Unite the party and prepare to lead,” Zia had urged BNP members earlier this year.But in late November she was rushed to hospital, where despite the best efforts of medics, her condition declined from a raft of health issues. Zia was jailed for corruption in 2018 under the autocratic government of Sheikh Hasina, which also barred her from travelling abroad for medical treatment.She was released shortly after Hasina’s ouster in August 2024.- ‘Battle of the Begums’ -For decades, Bangladesh’s politics was defined by the bitter rivalry between Zia and Hasina — a feud dubbed the “Battle of the Begums”, an honorific title in South Asia for a powerful woman.The hatred traces back to the 1975 assassination of Hasina’s father, independence leader Sheikh Mujibur Rahman, along with most of her family, in a coup.Three months later, Zia’s husband, Ziaur Rahman, then deputy army chief, effectively took control. He became president in 1977. He was himself assassinated in 1981.Zia, then a 35-year-old mother of two, inherited the BNP leadership.Initially dismissed as a political novice, Zia proved a formidable opponent, rallying against military dictator Hussain Muhammad Ershad, and later joining forces with Hasina to oust him in 1990.The two women alternated in power for the next decade and a half.Their intractable rivalry fuelled crises, including the January 2007 standoff that brought military-backed emergency rule. Both women were detained for more than a year.Hasina later dominated, ruling from 2008 until her violent downfall in 2024.Zia’s own tenure left a mixed legacy: she was admired for her resolve but criticised for her refusal to compromise, which often left her isolated, domestically and internationally.But Zia’s political legacy may yet continue.Her son, Tarique Rahman, 60, long seen as her political heir, has also said he will run in the polls.Rahman, known in Bangladesh as Tarique Zia, returned from exile in London on December 25, after fleeing what he called politically motivated persecution in 2008.Following Hasina’s fall, he was acquitted of the most serious charge against him: a life sentence handed down in absentia for a 2004 grenade attack on a Hasina rally, which he has always denied.His image is displayed alongside his mother’s on party banners, offering a potential new chapter in Bangladesh’s enduring political saga.



