Gold (Ounce) $1, Oil (Barrel) $ REPO Rate 3.19% (23/04/2017) REPO Rate 3.34% (20/04/2017) Source: Bangladesh Bank (W AV))

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1 DSEX 5, CSCX 10, Gold (Ounce) $1, Oil (Barrel) $47.53 Dollar (Buy) (Sell) Euro (Buy) (Sell) Source: DSE and CSE Source: Yahoo Finance Source: One Bank Limited REPO Rate 3.19% (23/04/2017) REPO Rate 3.34% (20/04/2017) Source: Bangladesh Bank (W AV)) National News Safety net schemes to get a boost Bangladesh to buy supercomputer: Palak BB relaxes farm loan release ratio for 9 new banks amid pressure AB Bank faces fund crisis for bad loans VAT rate to be brought down to a comfortable level : Muhith VAT exemption list may be doubled Steel millers oppose 15pc VAT on rod Accord to give half of remediation costs Shadow banking activity continues to grow: FSB report International News Oil price rebound to boost economic growth, says European bank IMF could be on board for Greek bailout: Slovak FM Amazon trounces rivals in battle of the shopping bots US small businesses worry about trade policy, too National News Safety net schemes to get a boost Expenditure under the social safety net programmes, including allowance for the elderly and widows, will be increased substantially in the next fiscal year to give more benefits to the ultra-poor. At a meeting on April 30 with Finance Minister AMA Muhith in chair, it was decided that the number of beneficiaries and the amount of money under the programmes will be increased. Of the schemes, the biggest is the one for the elderly, whose count of beneficiaries will be raised to 35 lakh people in the next budget that will be announced on June 1 by Muhith. At present, the total number of beneficiaries for old-age allowance is lakh. Each beneficiary gets Tk 500 per month and from next fiscal year they will get Tk 600. The government has already prepared a national social security strategy with the aim of bringing all vulnerable citizens under the social safety net.

2 More than one crore people will qualify for old-age allowance if all poor people above 60 years of age were to be brought under the social safety net scheme as per the plan. The strategy also recommended giving Tk 800 as allowance per month to the beneficiaries. Introduced in with four lakh beneficiaries who got Tk 100 each, Bangladesh's old-age allowance scheme has one of the lowest transfer values in the world. Due to fund constraints, the old-age allowance programme could not be expanded as much as the document recommends, but efforts are ongoing to raise it gradually, said a finance ministry official. The allowances for the widowed, deserted and destitute women will be raised to Tk 600 a month from existing Tk 500 in the forthcoming fiscal year. The number of beneficiaries will be increased 10 percent to make it lakh. The existing number of beneficiaries is lakh. The allowance for financially-insolvent disabled people will be Tk 700 in fiscal , up from Tk 600. The number of beneficiaries under the programme will be increased to 8.25 lakh in fiscal from existing 7.5 lakh. The programme started in fiscal with a budget of Tk 25 crore; each person was given Tk 200 per month then. Education stipend for insolvent disabled students is Tk 500 at primary level, Tk 600 at secondary level, Tk 700 at higher secondary level and Tk 1,200 at higher level. It will be kept unchanged. However, the number of beneficiaries will be increased by 5,000 at both the primary and secondary levels, to make the total number of beneficiaries 80,000. The maternity allowance programme for the poor lactating women will be extended to all municipalities from next fiscal year. At present, the scheme is being run in 10 municipalities. The total number of beneficiaries for maternity allowance will be six lakh instead of five lakh. In both cases the allowance will be Tk 700 from next fiscal year from existing Tk 500. The fund to provide assistance to cancer, kidney and liver cirrhosis patients will be raised by Tk 30 crore to Tk 50 crore. Each of them will get a maximum of Tk 50,000. The allowance for transgender people in the next budget will be Tk 700 per month from existing Tk 600. Some Tk crore will be allocated in the next budget to give allowance to about 7,550 transgender people. Each of the elderly from the gypsy community (locally known as bede community) and other lagging populations will get Tk 700 instead of Tk 600 from next fiscal year. Tea labourers are likely to be given Tk 5,000 per head instead of food assistance. Besides, the freedom fighters' honourarium of Tk 10,000 will remain the same. They will get two festival bonuses each year totalling Tk 20,000. Source: Bangladesh to buy supercomputer: Palak The government is set to buy a supercomputer to analyse critical data and reap the maximum benefits of digitisation, said Zunaid Ahmed Palak, state minister for ICT. A supercomputer is a high-performance computing machine designed to have extremely fast processing speeds, and is employed to handle very large databases or for applications that require immense amount of mathematical calculations. For instance, Bangladeshi researchers used supercomputers for genome sequencing of jute in Malaysia. The demand for a supercomputer came from the Bangladesh Meteorological Department after the recent floods in the haor areas.

3 If we have a supercomputer, we might avoid floods in the haor areas by analysing data much before the disaster hits. It will help us save assets worth thousands of crores of taka, Palak said at a programme held at the Daffodil International University in Dhaka on Tuesday. In the absence of one in Bangladesh, people go to Malaysia or developed countries during emergencies to access supercomputers. We need this computer for the sake of digitisation, which will ultimately save our assets and money, the state minister said, adding that the purchase will be made shortly. The supercomputer will be sourced from Inspur, a Chinese information technology company with speciality in server hardware manufacturing. The ICT division has asked Inspur to share the price of the supercomputer and the rate of return on investment. Officials of the ICT Division said they would involve the Bangladesh Atomic Energy Commission and other allied public offices with the process. Source: BB relaxes farm loan release ratio for 9 new banks amid pressure Bangladesh Bank has taken a decision to allow nine new commercial banks to disburse 2.50 per cent of their outstanding loans as farm loans from previous limit of five per cent in accordance with their (nine banks) wish. Nine new scheduled banks had been pursuing the central bank for long to withdraw many of the conditions, including disbursement of five per cent farm loan of their outstanding loans, under which they were given licences in To push for their demand, the banks came up with a set of proposals at a meeting with the BB at its headquarters in Dhaka on November 21 last year. The BB earlier asked the fourth generation banks to disburse at least 5 per cent of their total loans and advances as agriculture loans in a year. The previous generation banks have to disburse 2.50 per cent of their total loans as farm loans in a year. The central bank will have to revise the conditions of licence which was given to the nine banks in 2012, a BB official told New Age on Monday. The central bank will issue a circular within the shortest possible time to allow the nine new banks to disburse 2.50 per cent farm loan of their outstanding disbursed credit, he said. He said, The central bank s initiative will create a bad example in the country s banking sector when it will revise the conditions of licence. The nine banks are : Meghna Bank, Midland Bank, Modhumoti Bank, NRB Bank, NRB Commercial Bank, NRB Global Bank, South Bangla Agriculture and Commerce Bank, The Farmers Bank and Union Bank. The BB has recently asked banks to distribure at least 30 per cent of their farm loans through their own channel as some banks disburse their whole agriculture loans through their linkages namely nongovernmental organisations. At the meeting, the nine banks also demanded that the central bank give them a waiver from disbursing 30 per cent of their farm loans through their own channel saying that they did not have sufficient number of branches in the rural areas for doing the job. The central bank, however, rejected the plea of the nine banks not to disburse 30 per cent of their farm loans through their own channel. The BB asked the nine banks to spend at least 10 per cent of their net profit in the interest of underprivileged people under their corporate social responsibility programme. The new banks requested the central bank to withdraw the provision as such type of condition is not now imposed on older banks.

4 The owners of the banks had been pursuing the central bank to allow their banks to open two new branches in the urban areas against one new rural branch. The BB earlier asked all banks to set up one rural branch against one urban branch to speed up financial inclusion in the country. The central bank is yet to take decision to relax the conditions for the new banks. Source: VAT rate to be brought down to a comfortable level : Muhith Finance minister Abul Maal Abdul Muhith on Wednesday hinted about a potential change in VAT rate stipulated at 15 per cent in the new VAT law to make it more comfortable for traders and consumers. He the hint amid strong opposition from the businesses, experts and others stakeholders against the rate. I have already said that VAT rate would be brought at a comfortable zone, he said after inaugurating VAT online mobile help desk at the National Board of Revenue premises in Dhaka. He, however, declined to disclose what the new rate would be. In reply to a question on giving some relief in VAT rate, he said, Yes, that s alright you can say that some amendments in the VAT law may come. The new Value-Added Tax and Supplementary Duty Act-2012 is scheduled to come into effect from July 1 this year that will impose 15 per cent single rate VAT on almost all goods and services with some exceptions like essential foods, agricultural products, life saving drugs and education. Terming uniform 15 per cent VAT too high, traders, economists and experts have been opposing the rate saying that it would push cost of living and increase inflationary pressure on consumers. Trade bodies including the Federation of Bangladesh Chambers of Commerce and Industry and research organisations are suggesting the government to lower the VAT rate between 7 per cent and 12 per cent to avoid inflationary pressure after implementation of the law. Some sectors like steel and jewelry have also been demanding to lower the rate, even within 3 per cent to 5 per cent. Traders and finance minister on April 30 at a budget meeting locked in a heated exchange of words on implementation of VAT law. In reply to a question on the demand to keep the VAT rate between 3 per cent and 5 per cent, Muhith said that his only comment on the proposal was rubbish. Officials of the revenue board, however, said that they were yet to get any instruction in this connection. The finance ministry and NBR officials headed by Muhith will meet with prime minister Sheikh Hasina today to discuss the overall budget measures related to tax, they said. They said that the issue might be discussed at the meeting. The finance minister also inaugurated VAT online help desk in front of NBR headquarters at Segunbagicha in Dhaka. Under the VAT online mobile help desk, VAT officials boarding minibuses equipped with internet facility will roam around the city and make stoppage in front of different markets to help businesses to obtain online VAT registration number or business identification number. Three such buses will be included in the mobile help desk in Dhaka and two buses in Chittagong to provide the traders with services. NBR chairman Md Nojibur Rahman, VAT Online Project director Rezaul Hasan, among others, were present at the function.

5 Source: VAT exemption list may be doubled The number of VAT exempted products and services is likely to be doubled in the new VAT law from the items currently enjoying exemption to minimise pressure of price hike on consumers and facilitate businesses, officials of the National Board of Revenue said. They said that the revenue board had almost finalised the list of products and services for giving exemption from payment of value-added tax under the new law which is scheduled to be implemented from July 1 this year. The list will be circulated within few days to enhance the confidence of consumers and traders on the law as consumers are in fear of price hike in many cases after implementation of the law that will impose uniform 15 per cent VAT on almost all goods and services. Uniform 15 per cent VAT is much higher compared with that of in the countries in South Asia, East Asia and other lower middle income countries where the average VAT rate is 10.7 per cent and median rate is 12 per cent. Currently, some 535 products mostly basic food, life-saving medicines and agriculture goods and some services enjoy VAT exemption under the existing VAT Act The law has, in general, specified some areas like basic food items for human consumption, life-saving drugs, transportation services, medical services, education and agriculture. But it did not specify the name of goods and services for providing the exemption, officials said. In the new list, the list of exemption will be widened, they said, adding that almost all the goods and services currently enjoying VAT exemption will also be included in the new list. A significant number of goods like sugar, vegetable oil, spices and MS rod, currently on which VAT is applicable, may be exempted from payment of VAT to avoid any price hike of essential goods. Traders will also get some relief as many goods and services will be included in the exemption list, they said. They said that education and medical services were likely to be totally exempted from payment of VAT. Currently, VAT is applicable on tuition fees of English medium schools while some medical services also pay VAT. Overall VAT burden on consumers and businesses will be lower after widening of VAT exemption and increasing the VAT-free annual turnover limit for small traders, they added. The VAT-free turnover ceiling may be increased to Tk 50 lakh from Tk 30 lakh set in the new law. In the existing law, traders having annual turnover above Tk 7 lakh have to pay VAT in any forms like package VAT and trade VAT. Source: AB Bank faces fund crisis for bad loans AB Bank is facing financial crunch after its provision shortfall totalled Tk 1,340 crore at the end of The first generation private commercial bank maintained only Tk 250 crore against the required provision of Tk 1,590 crore because of bad loans, mostly in its offshore banking unit. The bank will face capital shortfall if the deficit amount is maintained. The required capital of the bank was over Tk 3,000 crore while its capital surplus was only Tk 135 crore as of December last year. Amid this situation, the BB on May 3 appointed Sheikh Mozaffar Hossain, a general manager of the central bank, as an observer to AB to closely monitor the bank's financial activities.

6 According to a Bangladesh Bank investigation report, AB's offshore unit disbursed over $55 million in foreign currency loans to four companies breaching rules in The companies are: Globatt ME General Trading LLC of the UAE, Semat City General Trading LLC of the UAE, ATZ Communications Pte Ltd of Singapore and Eurocars Holding Pte Ltd of Singapore. AB was asked to recover the outstanding loans from the four companies by May 31 last year. The outstanding loans with the four companies stood at $59.47 million as of June But the bank could recover only $ million as of October 2016, according to the BB report. AB did not classify the loans; rather it sought exemption from the central bank from maintaining the required shortfall, in an effort to show inflated profit in its balance sheet to retain investor's confidence. Last month, the central bank gave AB a chance to get rid of the shortfall in phases in four years which started from The bank was asked to maintain 10 percent of the shortfall in 2016 and 30 percent from 2017 to The net profit of the bank stood at Tk 101 crore in 2016 after maintaining 10 percent provision against the total deficit, according to the BB. Of the 10 percent retained provision, Tk 29 crore was set aside for the default loans of the offshore unit. Bad loans are not responsible for the high provision shortfall, said Moshiur Rahman Chowdhury, managing director of the bank. Businessmen have a tendency to file writ petition to avoid being declared as a loan defaulter, he said. He said banks have to keep provision against the loans to restrict them from becoming bad. The number of writ petition filed against AB is too high, Chowdhury said. Over 75 percent of the total provision requirement of the bank was for the loans against which writ petitions were filed, he said. The CEO said the bank now plans to raise capital because of its deteriorating financial health. As of December 2016, the bank's total default loan amounted to Tk 666 crore, which was 3.24 percent of its total loan outstanding, BB data shows. The BB sent a report about the overall financial situation of the bank to the parliamentary standing committee on finance this week. Source: Steel millers oppose 15pc VAT on rod Steel millers yesterday warned of slowdown in infrastructure development and housing construction in both rural and urban areas if 15 percent VAT is slapped on rod under the new law. At present, only Tk 900 is levied on each tonne of rod as VAT. The amount of VAT, also known as consumption tax, will rise to Tk 7,500 at a market price of Tk 50,000 per tonne once the new law comes into effect from July 1, the steel millers said. The steel industry will suffer, said Manwar Hossain, chairman of the Bangladesh Auto Re-Rolling & Steel Mills Association (BARSMA), at a press conference held at the National Press Club. BARSMA, Bangladesh Steel Mill Owners Association, and Bangladesh Re-rolling Mills Association jointly organised the press meet to share their concerns for the application of 15 percent VAT on rod, a key construction ingredient. Infrastructure development and housing construction will be affected for the imposition of the 15 percent VAT. Subsequently, he called for bringing down the rate to 3-5 percent. Industry operators said the sector could keep up with the country's fast growing construction demand because of the reduced VAT rate on rod. The country's annual demand for rod is estimated to be more than 25 lakh tonnes, according to EBL Securities' 2016 research report on the steel sector. In recent years, steel makers started expanding their capacity to make billet, the main raw material for rod, in order to cut the cost of production by reducing import dependence.

7 The country's billet production capacity more than doubled to nearly lakh tonnes per year, accounting for more than two-thirds of the annual demand, according to industry operators. Hossain said the imposition of the 15 percent VAT on rod will push up the price sharply and discourage a large number of people to build homes. As a result, the other related industries will suffer for the fall in demand for construction. We know how much our buyers can afford, he said in response to a question on why the steel millers are worried even though the indirect tax is paid by consumers. The price spiral will also push up the cost of the government's major infrastructure projects, including Padma bridge and metro rail projects. Infrastructure will be badly hit, said SM Khorshed Alam, vice-president of the Bangladesh Association of Construction Industry. Realtors present at the meet said the cost of apartments would rise, affecting the real estate sector, which has been registering sluggish demand, in the process. The steel millers also demanded zero VAT on the import of scrap and sponge iron. Source: Accord to give half of remediation costs The Accord on Fire and Building Safety in Bangladesh has launched a remediation fund to provide financial assistance to garment factory owners to help them improve safety standards. The Accord will directly contribute 50 percent of the remediation fund, according to a statement. However, it did not give details of the fund. The Accord Remediation Fund will provide qualified suppliers with access to direct funding for 50 percent of the remaining remediation costs for covered factories with no current Accord business, said Joris Oldenziel, head of public affairs of the Accord at its office in the Netherlands. This direct support is limited and will be implemented on a 'first-come first-served' basis. Oldenziel added: We need to ensure that major and costly safety measures, such as protected fire exits, fire alarms and fire protection systems and structural retrofitting work can and will be remediated urgently. Local garment makers have spent more than $1 billion for remediation to strengthen workplace safety since the collapse of Rana Plaza in April The Accord is a legally binding five-year agreement of 220 European retailers and brands and it is entering its fifth year of operation in Bangladesh. The signatory companies are committed to supporting the factories they source from, said the statement of the Accord. In the fifth year, the Accord's major focus will be to establish safety committees at factories and organise training programmes at as many factories as possible. It will also seek to effectively address safety complaints filed at factory-level safety committees or through the Accord safety complaints mechanism. Looking beyond 2018, apparel brands and retailers and unions are in discussions on how to best ensure that safety regulations and rights in the garment industry in Bangladesh are adequately upheld and further developed, the statement said. The Accord wants to extend its tenure by three more years after the expiry of the current agreement in June The initiative of forming a separate fund for remediation is too late because many factories are already near completion of the remediation, said Mahmud Hasan Khan Babu, vice-president of Bangladesh Garment Manufacturers and Exporters Association.

8 So far, no garment factory has received any financial assistance from the Accord signatories for remediation purposes, although they were supposed to provide such support as per the commitments made in the charter of the Accord, Babu added. He said many of the Accord signatories have severed business ties with many factories due to slow progress in the remediation. More than 1,800 factories under the Accord banner have received initial fire, electrical and structural safety inspections. Over 100,000 safety hazards were identified at the factories inspected. Source: Shadow banking activity continues to grow: FSB report Growth in global bond, real estate and money market funds continues to swell the world's "shadow banking" sector, which provides credit outside the regulated banking system and plugged a market gap opened up by euro zone banks cutting back on their lending, according to the global Financial Stability Board. The FSB, which coordinates financial regulation for the Group of 20 Economies (G20), said its "narrow" measure of shadow banking activities that could pose a threat to stability, rose 3.2 percent to $34.2 trillion in 2015, the latest year for which figures have been collated. Apart from debt investment funds, the measure of shadow banking also includes the repurchase or repo and debt securitization markets as well as hedge funds involved in credit. Some of the sector's growth was in the euro area where credit was reduced by banks, saddled with bad loans and tougher regulation, the FSB said in its 94-page annual monitoring report. The measure has risen from 60 percent of economic output of countries monitored in 2011, to 69 percent in 2015, outpacing growth generally. Shadow banking accounts for about 13 percent of financial system assets. The financial crisis prompted the FSB to monitor and recommend rules to mitigate risks in the sector. "This helps to inform our judgment on appropriate policy responses as we transform shadow banking into resilient market-based finance," FSB Chairman Mark Carney said in a statement. The FSB will publish a broader review for G20 leaders in July, saying whether additional rules might be needed. Figures from the Cayman Islands, a key hedge fund center, are included for the first time in the latest report and Luxembourg may be included from next year. But detailed analysis for China, which has a growing shadow banking sector, was received too late to be included in the narrow measure. Increases in the narrow measure of shadow banking can also be put down to better reporting and not just an acceleration in activity. Some 65 percent of the $34 trillion is made up of open-ended fixed income funds, real estate funds and money market funds which have grown about 10 percent on average over the past four years. In the meantime, secured funding from broker dealers and secularisations has fallen. Source: ম ল য স য জন কর (ম সক) ১৫ শত শ বহ ল থ কযল প রতত টন রয র দ ম ব ড়যব ৭ হ জ র ৫০০ ট ক অ থ ৎ, প রতত টন রয র দ ম বতথ ম যন য খ যন ৫০ হ জ র ট ক, আগ ম ১ জ ল ইয র পর ত যবযড় দ ড় যব ৫৭ হ জ র ৫০০ ট ক

9 জ ত যপ রসক ল যব গতক ল ব ধব র ত ল ও অযট -তরযর তল খ যতর ততন সতমততর য থ আয জযন অন ত ত স ব দ সয ল যন এমন দ তব কর হয য সতমততগ যল হয ব ল যদশ অযট তর-যর তল অয ন ড ত ল তমল স অয যস তসয শন, ব ল যদশ তর-যর তল তমল স অয যস তসয শন এব ব ল যদশ ত ল তমল ওন সথ অয যস তসয শন সতমততগ যল বযল য, প রতত টন রয বতথ ম যন ম সক তদযত হ ৯০০ ট ক এক ল য ত ব তড়য কর হয ৭ হ জ র ৫০০ ট ক এযত একতদযক সরক তর-যবসরক তর সব অবক ঠ যম তনমথ য রই বয যবযড় যব, অনযতদযক তবল ত ত হযব যদযশর ব তষথক উন ন ন কমথস ত (এত তপ) ব স ব ন ত ই অন তত আগ ম তনবথ যনর আযগ রয র দ ম যবযড় ও র যক যন উযদয গ যনও সরক যরর ঠ ক হযব ন ক র প থ য রয র ক ম যল যক যন ম সক ন র খ এব তবতক র প থ য এমএস র, এমএস তবযল ট ইতয তদযত ৩ যথযক ৫ শত শ ম সক তনধথ রয র দ তব জ তনয য সতমততগ যল ক র প থ য বতথ ম যনও যক যন ম সক যনই ব ল যদশ অযট তর-যর তল অয ন ড ত ল তমল স অয যস তসয শযনর য রময ন মযন র যহ যসন বযল ন, ম য ম য সরক রযক জনগয র কথ শ নযত হযব আব র জনগ যকও শ নযত হযব সরক যরর কথ স মযন আম যদর এতগয ও র অযনক পথ ব তক তকন ত এই সময এযস ১৫ শত শ ম সক আযর যপ যগ ট খ যতর জনযই খ র প হযব এর সম ভ বয যনততব ক প রভ ব যথযক আমর ম ত ই ব ল যদশ তর-যর তল তমল স অয যস তসয শযনর মহ সত ব ম হব ব র রতশদ বযল ন, রয ১৫ শত শ ম সক আযর প করযল ত ল তশল প খ ত ক ষততগ রস হযব, বয হত হযব অবক ঠ যম র উন ন ন ও আব সন তনমথ রয র সয সম পতকথ ত অনয প য ও যসব র দ ম যবযড় যব এ ড় যদযশর অবক ঠ যম তনমথ য র ল ম ন প রকল প ব ত র বয ও যবযড় যব ব ল যদশ অযট তর-যর তল অয ন ড ত ল তমল স অয যস তসয শযনর মহ সত ব যম হ দ শহ দ ল ল হ বযল ন, আব সন খ ত এমতনযতই ন জ ক অবসৎ রয য ব ড়তত ম সযক আব সন খ যতরই সবয য যবতশ ক ষতত হযব শহ দ ল ল হ আরও বযল ন, ইস প ততশল প খ যত ম সক বতথ ম যন ১ শত যশরও কম বড়যজ র ত ব তড়য ৩ শত শ কর য যত প যর তকন ত ৫ শত যশর যবতশ যক যন ভ যবই ন তকন ত ১৫ শত শ ম সক হযব প যর খ যতর জনযই বড় যব সতমততর স যবক সভ পতত যশখ ম স দ ল আল ম বযল ন, তক যল ক সরক যরর শ ষথমহল যক ভ ল ব ত য আব সন, ইস প তসহ অবক ঠ যম খ যতর ক ষতত কর র য ষ ট তল প ত কনজ ম রস অয যস তসয শন অব ব ল যদযশর (কয ব) মহ সত ব হ ম ন কতবর ভ ই বযল ন, ১৫ শত শ ম সক তপয যদযবন যকন? ম সক আমর যদব তকন ত ত সহনশ ল ত র মযধয র খযত হযব অন যর ধ থ কযব আগ ম তনবথ যনর আযগ সরক র নত ন হ যর ম সক আযর প করযব ন তততন আরও বযল ন, তদ ম রযতই থ যকন, ম রযতই থ যকন, মযর ব যত! তখন তকন ত অ থমন ত র, ব ত জযমন ত র যকউই ব যত প রযবন ন ম সক যদযবন যভ, বযবস র শ ধ আদ কযর যদযবন, ত হযল সমসয যক থ এমন প রয র জব যব মযন র

10 যহ যসন বযল ন, যভ যদর হয ই কথ বল ত ক র, আমর জ তন, যভ যদর যভ যগর স ম ট কত দ র প থন ত আয Source: গ র হকযদর ক থ যসব সযবথ চ চ স তবধ তদযত যস সয ল ইসল ম বয ক তল তমযট (এসআইতবএল ) এব ম রক থ য থভ যব ক থক রম শ র করযত য এ উপল যক ষ ঢ ক এসআইতবএযল র করযপ যরট অত যস আয তজত এক অন যন বয কট র বযবসৎ পন পতর ল ক ও প রধ ন তনবথ হ সতহদ যহ যসযনর ক য ল ইযসন স ক যমন ট হস ন তর কযরন ম রক থ ব ল যদযশর ক ত ময যনজ র সস দ যম হ দ ক ম ল এই প টথ ন রতশযপর যল ম রক য থ র ক থ ইস যর যক ষয তপ রতন সপ ল যম যরর ভ তমক থ কযব এসআইতবএল Source: যদযশ নত ন যম স যমর (২০১৭-১৮) য র তনল ম শ র হ গত ২৫ এতপ রল প রথম তনল যম প রতত যকতজ গযড় ২০৮ ট ক তবতক র হয ত ল এর পযরর দ ট তনল যমই দ ম কযময প ন প যট র এর মযধয ত ত তনল যম (ম ল ব র অন ত ত) প রতত যকতজ গযড় ১৮৯ ট ক তবতক র হয য বযবস র বল য ন, ব জ যর ভ যল ম যনর য র সরবর হ কম থ ক দ ম কময ট টগ র যম গত ম ল ব র অন ত ত ত ত তনল যম সব তমযল ২৬ হ জ র ১৫১ পয যকযট ১৪ ল খ ৩৪ হ জ র ৬১৭ যকতজ তবতক রর জনয যত ল হ এর মযধয দ ন দ র ১২ ল খ ১৯ হ জ র ১৩৭ ও গ যড় ২ ল খ ১৫ হ জ র ৪৮০ যকতজ ২০১৬-১৭ যম স যমর ত ত তনল যম যম ট ১৩ ল খ ৩ হ জ র ৪২০ যকতজ তবতক রর জনয যত ল হয ত ল এ তহস যব এক ব যরর বযবধ যন ব জ যর সরবর হ যবযড়য প র ১ ল খ ৩০ হ জ র যকতজ যখ জ তনয জ ন যগয, যম স যমর প রথম তনল যম প রতত যকতজ গযড় ২০৮ ট ক তবতক র হয ত ল ত ত তনল যম যসখ ন যথযক কযম প রতত যকতজর দ ম তসৎর হ ১৯৩ ট ক আর সবথযশষ তনল যম প রতত যকতজ গযড় ১৮৯ ট ক তবতক র হ অ থ ত দ ই তনল ম বযবধ যন ট টগ র যম য র দ ম কযময যকতজযত ১৯ ট ক নত ন যম স যমর প রথম দ ই তনল যম ৭০-৭৫ শত শ তবতক র হযল ও সবথযশষ তনল যম তবতক রর পতরম ত ল ৬০ শত শ য র দরপতন সম পযকথ বযবস র বল য ন, যম স যমর প রথম তনল যম ভ যল ম যনর সরবর হ যবতশ থ ক দ মও ত ল যবতশ পযরর দ ই তনল যম ব জ যর ভ যল ম যনর সরবর হ ত ল ন ম ল ক কম ত ল এ ক রয প যট র দ মও কযম আসয ম ল ব র অন ত ত ত ত তনল যম সবয য যবতশ দ ম যপয য মধ প র ব গ যনর সবয য যবতশ দ যম তবতক র হও ১০ট য র স তট ই ত ল এ ব গ যনর এর মযধয ২৭৫ যকতজ তবতক র হয য ২৮৬ ট ক যকতজ দযর সবয য যবতশ দ যম তবতক র হও য র ত তল ক আযর ত ল আমর ইল, তক লভ ন ও দ র গ ও ব গ যনর বযবস যদর সয কথ বযল জ ন যগয, আগ ম তনল যম ( ত থ) ২১ হ জ র ১৩১ পয যকযট যম ট ১১ ল খ ৫৯ হ জ র ২২৬ যকতজ তবতক রর জনয প রস ব কর হযত প যর য র স ম প রততক ব জ র প রসয যর ক সথ ও ট ট এতবর যনত আবদ ল হ ই বত ক ব তথ যক বযল ন, গত যম স যম তনধথ তরত দ ট তনল ম ব দ তদয বষথ যশষ কর হ এ ক রয নত ন যম স যমর প রথম তনল যম প যট র দ ম ত ল ন ম ল ক যবতশ ত ল তযব

11 সরবর হ ব ড়যত থ ক দ যমও প রভ ব পড়যত শ র কযরয ব জ যর ভ যল ম যনর সরবর হ ব ড়যত শ র করযল দ ম ব ড়যব ট য সথ অয যস তসয শন ব ল যদশ (ট ট এতব) স য জ ন যগয, প র যদড় ম যসর তবরতত তদয গত ২৫ এতপ রল শ র হ য র নত ন তনল ম যম স ম ২০১৭-১৮ যম স যম ৪৫ট তনল ম আয জযনর তসদ ধ ন ত তনয য যব থ অন ক ল পতরযবশ থ ক যম স যমর শ র যতও প থ প ত সরবর হ প ও যব বযল আশ করত যল ন স ত ষ টর তযব প যট র সরবর হ প রতয শ ম ত ক হয ন এর আযগ ল তত ব যরর ২১ ম থ ২০১৬-১৭ যম স যমর যশষ তনল ম অন ত ত হ উৎপ দন যবযড় ও ও ভ যল ম যনর সরবর হ কযম আস ৪৬ট তনল যম যম স ম যশষ হ তদও গত যম স যম ৪৮ট তনল ম আয জযনর পতরকল পন ত ল উযল লখয, গত ব র যদযশ ৮ যক ট ৫০ ল খ যকতজ উৎপ দন হ প যট উৎপ দযন এট নত ন যরক থ আবহ ও অন ক ল থ কযল ল তত যম স যমও যবক থ পতরম উৎপ দন হও র প রতয শ করয ন স ত ষ টর Source: International News Oil price rebound to boost economic growth, says European bank Europe's development bank predicted Wednesday a pick-up in economic growth in most of the regions where it operates this year as rebounding oil prices boost Russia and other commodity exporters. One weak spot is Turkey where growth is expected to slow as political uncertainty hits the economy, the European Bank for Reconstruction and Development (EBRD) said at its annual meeting in Cyprus. Average economic growth in the EBRD region -- which also includes countries in eastern and central Europe, central Asia and the Mediterranean -- is expected to pick up to 2.4 percent in 2017 and 2.8 percent in 2018, the EBRD said. That would mark an improvement from growth of 1.8 percent seen in "Overall the news is good. Growth is faster... despite all the risks, all the global challenges," EBRD chief economist Sergei Guriev told a news conference. The rebound in world oil prices since the first quarter of 2016 has been positive for Russia as well as countries that rely on it for remittances and export demand, the bank said. Russia is emerging from a two-year recession but even so the economic recovery is expected to be relatively muted with growth seen at 1.2 percent this year and 1.4 percent in 2018, the EBRD said. "Even though recession in Russia is over, we forecast only a very slow recovery and we don't see remittances going back to the peak of 2013, which means for the countries that rely on remittances from Russia this is continuing to be a difficult time," Guriev said. Growth in Turkey is predicted to slow further to 2.6 percent in 2017 from 2.9 percent in 2016 as security and political concerns hit investor sentiment and tourism. "While increased disposable income on the back of a 30-percent hike in the minimum wage in January 2016 resulted in an increase in private consumption, growth was hit by a sharp fall in tourism receipts, Russian sanctions, and geopolitical tensions in the Middle East," the EBRD said in its economic update. "Weak consumer and investor sentiment following the attempted military coup in July 2016 compounded these problems." Growth in the southern and eastern Mediterranean region -- which includes Egypt, Jordan, Morocco and Tunisia -- is projected to pick up to 3.7 percent in 2017, from 3.4 percent last year. Source:

12 IMF could be on board for Greek bailout: Slovak FM Slovak Finance Minister Peter Kazimir suggested Wednesday that the International Monetary Fund was on board for financing Greece's third bailout. "It seems to me that yes, that finally" the IMF is going to participate, Kazimir said at the European Bank for Reconstruction and Development's annual meeting in Cyprus. "We have to congratulate (IMF chief) Christine Lagarde that she managed to convince the board to do it," he said. "The amount is not important. It's symbolic... I've repeated many times that for us the IMF must be on board with technical assistance," the finance minister continued, according to a transcript provided by his ministry. Greece and its creditors agreed a third, 86-billion-euro ($94-billion) bailout deal in July 2015, but the IMF refused to take part, on the grounds that the targets were unrealistic and Athens' debt mountain unsustainable. The IMF played a central role in the first two financial rescues of Greece. But the fund never formally joined the third bailout alongside the eurozone and there has been increasing talk it may choose to walk away. Source: Amazon trounces rivals in battle of the shopping bots Earlier this year, engineers at Wal-Mart Stores Inc who track rivals' prices online got a rude surprise: the technology they were using to check Amazon.com several million times a day suddenly stopped working. Losing access to Amazon.com Inc's data was no small matter. Like most big retailers, Wal-Mart relies on computer programs that scan prices on competitors' websites so it can adjust its listings accordingly. A difference of even 50 cents can mean losing a sale. But a new tactic by Amazon to block these programs - known commonly as robots or bots - thwarted the Bentonville, Arkansas-based retailer. Its technology was unable to work around the blockade for weeks, forcing it to retrieve Amazon's data through a secondary source, according to a person familiar with the matter who was not authorized to speak publicly. The previously unreported incident offers a case study in how Amazon's technological prowess is helping it dominate the retail competition. Now the largest online retailer in the world, Amazon is best known by consumers for its fast delivery, huge product catalog and ambitious moves into areas like original TV programming. But its mastery of the complex, behind-the-scenes technologies that power modern e-commerce is just as important to its success. Dexterity with bots allows Amazon not only to see what its rivals are doing, but increasingly to keep them in the dark when it undercuts them on price or is quietly charging more. "Benchmarking against Amazon is going to become hard," said Guru Hariharan, a former Amazon manager who now sells pricing software to retailers as chief executive of Mountain View, California-based Boomerang Commerce. A Wal-Mart spokesman declined to discuss the January episode but said the company improves its technology regularly and has multiple tools for tracking items. He said the company offers value not only through pricing but from discounts for in-store pickup and other benefits. A spokeswoman for Amazon said the company is aware of competitors using bots to check its listings and denied any "campaign" to stop them. "Nothing has changed recently in how we manage bots on our site," she said. Still, she said, "we prioritize humans over bots as needed." Bots can slow down a website, a big motivator for retailers to block them.

13 Reuters interviewed 21 people familiar with bots and how they are deployed, including current and former Wal-Mart employees, former Amazon employees and outside specialists. Many spoke only on condition of anonymity because they were not authorized to discuss the issues publicly. The company's technological edge has been good for its profit margin, and it's proving a winning formula for investors. Shares of the internet powerhouse have risen about 15-fold since the market's bottom in March 2009, while the S&P 500 has more than tripled in value. Amazon hit $100 billion in annual sales in faster than any company in history, it said. Bot-driven pricing has represented a massive change for the retail industry since Amazon helped pioneer the practice more than a decade ago. Traditionally, brick-and-mortar stores changed prices no more than weekly because of the time and expense needed to swap labels by hand. In the world of e-commerce, though, retailers update prices with ease, sometimes multiple times a day, helped by algorithms that consider inventory levels, sales forecasts and rivals' pricing data. To stay in the game, companies such as online wholesaler Boxed, based in New York, depend on a variety of methods including bots to ensure they do not lag others' price moves for even 20 minutes. "That's like a lifetime during Christmas," said Chief Executive Chieh Huang, whose company sells bulk staples like toilet paper and pet food. "If we're not decently priced, we'll see it almost immediately" in sales declines. Using bots to view massive amounts of data on public websites - a process known as crawling or scraping - has many purposes. Alphabet Inc's Google, for example, constantly crawls the Web to gather information for its search engine results and to sell ads. In e-commerce, though, the use of bots has developed into a cat-and-mouse game. Companies try to thwart the practice on their own websites while aiming to penetrate their competitors' defenses. Thirdparty services abound to help less-savvy retailers. To protect data from rivals, some retail websites use what's known as a "CAPTCHA" - typically a distorted string of letters and numbers that humans can read but most bots can't. Amazon shies away from the practice because it annoys some customers. For merchants seeking to evade such defenses, disguising their computer programs as real shoppers is key. Some pricing technology experts have programmed computer cursors to meander through a Web page in the way a person might, instead of going directly to the prized data. Another technique is to use multiple computer addresses so that retailers cannot track a barrage of clicks to a single source. "It is an arms race," said Keith Anderson, a senior vice president at e-commerce analytics firm Profitero, based in Ireland. "Every week or every month, there's some new approach from both sides." Source: US small businesses worry about trade policy, too Small business owners trying to break into international markets say US trade policies and the strong dollar affect their ability to export, states a report released Tuesday. The exchange rate "has been a big one," said Jamie Deering, whose parents started Deering Banjo in 1975 in San Diego, California. Exports of the iconic American folk instrument account for 30 percent of the company's business. Many of the 16 small businesses featured in the report entitled "The New Faces of American Trade" also cite the strong US dollar as a factor weakening their potential to export, a complaint they share with larger manufacturers. A strong dollar makes US products more expensive, and thus less competitive, in overseas markets. Wei- Shin Lai, who with her husband Jason Wolfe invented SleepPhones -- wearable headphones in a flexible

14 headband -- said the company had to pull out of the Boots convenience store chain in Britain because they could no longer compete due to the unfavorable exchange rate. "It became untenable for us to make money," she said at a forum on the report Tuesday. Her company is based in the struggling Rust Belt city of Erie, Pennsylvania. The report, produced by the Global Innovation Forum, a nonprofit connecting small businesses with policymakers and resources to join the global marketplace, examined how these companies use internet resources to expand their export presence. Like bigger companies, small businesses favor open trade and consistent rules. And trade negotiations are key to keeping markets overseas open to American products. "If we're not at the table another voice will step in," Lai said. "We need to be there," she said of international trade negotiations." Deering told the forum about changes in rules on exporting rosewood that have forced changes in production procedures, since the company uses rosewood inlay on their banjos. LoveBook, which produces customized individual books as gifts for a loved ones, has resorted to partnering with companies overseas to print their product, an arrangement which in many cases is easier than dealing with export rules. Source: