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DSEX 4453.29 0.008% Gold (Ounce ) $1,522.90 CSCX 8195.14 0.088% Oil (Barrel) $ 66.22 Daily News Flash 2nd January 2020 Sell Sell Dollar 86.20 87.00 GBP 110.20 113.60 Sell Sell Euro 94.20 97.00 Rupee 1.20 1.25 Table of Contents Macro Economy ............................................................................................................ 1 FOREIGN AID RISES BY 9.0PC IN JUL-NOV .............................................................................................. 1 NBR EXEMPTS SUMMIT FSRU FROM VAT, DUTY .................................................................................... 2 REMITTANCE: NEXT LARGEST SOURCE OF INCOME ................................................................................ 2 'REVENUE THINK-TANK' TO SUPPORT FORMULATION ............................................................................ 3 BANKS’ RURAL BRANCHES RISE TO 10,467 ............................................................................................ 4 THREE MORE MONTHS TO WAIT FOR SINGLE-DIGIT INTEREST RATE | DAILY SUN .................................... 5 1.4M TONS CRUDE OIL TO BE IMPORTED IN 2020 ................................................................................. 5 REMITTANCE SOARS TO RECORD $18B ................................................................................................. 8 PVT SECTOR CREDIT GROWTH PLUMMETS BELOW 10PC ..................................................................... 10 BTRC ORDERS TELCOS TO RESTORE NETWORK TO BORDER AREAS ....................................................... 11 1.4MN TONNES CRUDE OIL TO BE IMPORTED IN 2020 ......................................................................... 11 ২২% হারে আইসিসি চা쇍জ বরে তৎপে পপাশাক সশল্প ............................................................................................. 12 টানা চতু র্জ মারি িংরকাচরন ভােরতে প্রধান খাত巁র া .......................................................................................... 13 পেব্রুয়াসেরত এসশয়ায় াইট ক্রু রিে দাম কমারত পারে পিৌসদ আেব ........................................................................... 13 পবিেকাসে 뇍াংরক িুরদে হাে পবসশ র্াকরব: অর্জমন্ত্রী ............................................................................................. 14 Capital Market Specific................................................................................................ 15 STOCKS OPEN NEW YEAR ON FLAT NOTE ............................................................................................ 15 ADN TELECOM TO MAKE DEBUT JAN 6 ............................................................................................... 16 ACTIVE USERS OF DIGITAL APPLICATION UP 30PC ................................................................................ 16 BANKING STOCKS BATTERED .............................................................................................................. 17 BSEC ALLOWS MTB TO FLOAT TK 500CR BOND.................................................................................... 18 KAMAL CLUELESS ABOUT STOCK MKT BEHAVIOUR .............................................................................. 18 পশয়ােবা쇍ারে তাস কাভু ক্ত পকাম্পাসন ২০১৮-১৯-뇍বিা বৃসিে শীরষজ িাসমট স쇍সপএইচ সবএিআেএম ...................................... 20 পতন সদরয় �쇁 সিএিইে নতু ন িূচরকে ........................................................................................................... 22 Daily News Flash Thursday, January 2, 2019 Macro Economy FOREIGN AID RISES BY 9.0PC IN JUL-NOV Foreign aid commitment to Bangladesh dropped by 47 per cent to US$2.6 billion in the first five months of the current fiscal year compared to that of the same period last fiscal, officials said on Monday. However, foreign aid went up by 9.0 per cent to $1.62 billion during the July-November period of this fiscal year compared to that of the same period last fiscal, the Economic Relations Division (ERD) provisional data showed. According to the ERD, the Bangladesh government had signed US$2.6 billion worth of loan and grant deals with overseas development partners during this period for getting assistance for different development projects. During the same period last FY2019, multilateral and bilateral development partners made commitment of $3.83 billion worth of foreign aid. Meanwhile, development partners disbursed $1.63 billion worth of medium-and long-term (MLT) concessional aid during the July-November period of the current fiscal year. In the same period last FY2019, overseas development partners disbursed $1.49 billion worth of assistance, the official statistics showed. Out of the $1.63 billion aid during July-November this fiscal, development partners disbursed $1.54 billion worth of loans and $82.35 million in grants. A senior ERD official said: "Since some big loan deals were signed in last FY2019, commitment was higher compared to the same period this FY2020." But it is good news that aid disbursement has picked up in July-Nov period this FY compared to the same period last FY2019. Out of the $2.6 billion worth of aid commitment, development partners confirmed $2.41 billion worth of loans while the remaining $191.81 million as grants through signing different agreements. The ERD official said: "Although commitment has been showing a downward trend in the first five months, it will pick up in the last quarter of the current fiscal." Meanwhile, the government has paid interest worth US$ 163.06 million in the first five months of the current FY 2020 as the government's borrowing especially short-term hard loan increased over the years, ERD officials said. During the July-November period of the current fiscal, the government repaid US$ 687.89 million interest and principal amount against outstanding external MLTs loans, according to the ERD. In the same period last FY2019, it repaid $524.83 million worth of interest and principal amount for outstanding loans. "Since our borrowing has increased over the years, debt servicing is also increasing," said the senior ERD official. "The government has taken a huge amount of buyers' credit and short-term loans over the last few years. Grace period of most of the loans was 5-6 years. So, the government has to start their debt servicing in recent years," the official said requesting for anonymity. Development partners including World Bank, Asian Development Bank, JICA, UKAID, and Islamic Development Bank disbursed concessional assistance every year for the development of Bangladesh. The government has set an ambitious target for US$6.0 billion concessional foreign assistance disbursement and $8.47 billion commitment in the current FY2020. Source: https://today.thefinancialexpress.com.bd/trade-market/foreign-aid-rises-by-90pc-in-jul-nov- 1577891279 1 Back to Table of Contents Daily News Flash Thursday, January 2, 2019 NBR EXEMPTS SUMMIT FSRU FROM VAT, DUTY The National Board of Revenue (NBR) has exempted Summit LNG Terminal Co (Pvt) Ltd from paying VAT and import duty for implementation of the floating, storage and re-gasification unit (FSRU) project, according to a special order. The FSRU, having a capacity to re-gasify 500 million cubic feet of gas per day (mcfd), initiated commercial operation since April 29, 2019. The company is entitled to enjoy exemption from payment of value added tax (VAT), advance tax and supplementary duty on products and services related to the FSRU. However, the products and services that would be imported for personal use will not be entitled to the exemption, according to the order. The NBR issued a special order on December 18, 2019, signed by NBR Chairman Md Mosharraf Hossain Bhuiyan. The floating LNG terminal was built on the Build, Own, Operate and Transfer (BOOT) basis under the 'Speedy Supply of Power and Energy (Special Provision) Act 2010'. Earlier, the NBR had exempted US-based Excelerate Energy Bangladesh from paying similar VAT and taxes for implementation of a similar FSRU. Excelerate Energy's LNG terminal initiated commercial operations in August 2018. Both the FSRUs re-gasified around 548 mmcfd of LNG on December 29, 2109, which is around half of their total capacity to re-gasify of around 1,000 mmcfd of gas. Source: https://today.thefinancialexpress.com.bd/trade-market/nbr-exempts-summit-fsru-from-vat- duty-1577891369 REMITTANCE: NEXT LARGEST SOURCE OF INCOME The flow of inward remittance jumped more than 18 per cent or US$2.80 billion last year (2019) which may partly be attributed to the incentive provided by the government for sending money through official channels. Depreciation of the local currency against the US dollar has also jacked up the inflow of remittances in the recent months. Although official figure is yet to be revealed, remittance is set to reach $18.34 billion in 2019 from $15.54 billion a year ago despite a falling trend in outbound jobs of Bangladeshis. The upward trend of inward remittance is expected to continue in the coming months as the government has announced 2.0 per cent incentive for remittance receipts. The government had already allocated Tk 30.60 billion as incentive in the budget for the current fiscal (FY) 2019-20 to encourage expatriate workers to send their money through legal channels. What the current trend suggests is that the flow of inward remittance may cross $20 billion-mark by the end of this fiscal. In order to get more remittances, there is a need for strengthening monitoring and supervision to avoid possible misuse of the government incentive. The local currency depreciated by Tk 1.0 against US dollar

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