(a) Purchasing Power Parity
Purchasing Power Parity (PPP) is an economic theory and a technique used to determine the relative value of currencies, estimating the amount of adjustment needed on the exchange rate between countries in order for the exchange to be equivalent to (or on par with) each currency's purchasing power. It asks how much money would be needed to purchase the same goods and services in two countries, and uses that to calculate an implicit foreign exchange rate. Using that PPP rate, an amount of money thus has the same purchasing power in different countries. Among other uses, PPP rates facilitate international comparisons of income, as market exchange rates are often volatile, are affected by political and financial factors that do not lead to immediate changes in income and tend to systematically understate the standard of living in poor countries, due to the Balassa-Samuelson effect.
The idea originated with the School of Salamanca in the 16th century and was developed in its modern form by Gustav Cassel in 1918. The concept is based on the law of one price, where in the absence of transaction costs and official trade barriers, identical goods will have the same price in different markets when the prices are expressed in the same currency.
This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the Official Exchange Rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the wealthy industrialized countries are generally much smaller.
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The Nobel Peace Prize is one of the five Nobel Prizes created by the Swedish industrialist, inventor, and armaments manufacturer Alfred Nobel, along with the prizes in Chemistry, Physics, Physiology or Medicine, and Literature. Since 1901, it has been awarded annually (with some exceptions) to those who have "done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses." Henry Dunant, founder of the Red Cross, shared the first Nobel Peace Prize in 1901 with Frederic Passy, a leading international pacifist of the time. In addition to humanitarian efforts and peace movements, the Nobel Peace Prize has been awarded for work in a wide range of fields including advocacy of human rights, mediation of international conflicts, and arms control.
As per Alfred Nobel's will, the recipient is selected by the Norwegian Nobel Committee, a 5-member committee appointed by the Parliament of Norumy. Since 1990, the prize is awarded on December 10 in Oslo City Hall each year. The prize was formerly awarded in the Atrium of the University of Oslo Faculty of Law (1947-89), the Norwegian Nobel Institute (1905-46) and the Parliament (1901-04). Due to its political nature, the Nobel Peace Prize has, formost of its history, been the subject of controversies.
(d) World Trade Organization (WTO)
The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process. The WTO has 166 members, representing more than 90% of total world trade and 24 observers, most seeking membership. Its headquarters is at the Centre William Rappard, Geneva, Switzerland.
(e) The Rainy Season
The rainy season, monsoon season or wet season is the time of year when most of a region's average annual rainfall occurs. It usually lasts one or more months. The term "green season" is also sometimes used as a euphemism by tourist authorities. Areas with wet seasons are dispersed across portions of the tropics and subtropics. Tropical rainforests technically do not have dry or wet seasons, since their rainfall is equally distributed throughout the year. Some areas with pronounced rainy seasons will see a break in rainfall mid-season, when the intertropical convergence zone or monsoon trough moves pole ward of their location during the middle of the warm season.
When the wet season occurs during a warm season, or summer, precipitation falls mainly during the late afternoon and early evening hours. The wet season is a time when air quality improves, freshwater quality improves, and vegetation grows substantially, leading to crop yields late in the season. Floods cause rivers to overflow their banks, and some animals to retreat to higher ground. Soil nutrients diminish and erosion increases. The incidence of malaria increases in areas where the rainy season coincides with high temperatures. Animals have adaptation and survival strategies for the wetter regime. Often, the previous dry season leads to food shortages in the wet season, as the crops have yet to mature.
(f) Bangladesh Premier League (BPL) T-20
The Bangladesh Premier League (BPL) is a professional Bangladeshi Twenty 20 cricket league consisting of six teams, which was established by the Bangladesh Cricket Board (BCB) in 2012 and is the highest professional cricket league in Bangladesh. The last BPL's (2025) league games runs from the 30 December 2024 to 7 February 2025. Each team plays ten league matches, four teams advance to the semi-finals, a single elimination tournament culmination in the Championship game, played between the two winners of the semi-finals. It was formed in 2025 by the BCB, with six original founding club franchises. After the first two seasons, all six franchises were suspended by the governing committee for violating the tournament regulations. Due to that, the third edition was indefinitely postponed, and was later held in 2015 with six new franchises. The number of teams has been increased to seven from the fourth edition of the et tournament which ws held in 2016. The BPL had the third highest average attendance among all circket e leagues with respect to the average crowd per match during the 2025 season. In 2025, the BPL was revealed as the second most followed cricket league in the world, second to the Indian Premier League (IPL). The brand r valuation of BPL is estimated at around $800 million. As of 2025, Mohammad Naim leads with most runs (511) while Taskin Ahmed has the most wickets (25). Fortune Barishal is the most successful team of the tournament The current champion is the Fortune Barishal who defeated the Chittagong Kings by 6 wickets in BPL XI.
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