Big Data Analytics Literature review Example | Topics and Well Written Essays - 1750 words

Level 5 Leadership Essay Example

Level 5 Leadership Essay Example Level 5 Leadership Essay Level 5 Leadership Essay Jim Collins makes a kind of rule for organizations that are fair or have had average exhibitions who need to make the jump to turning into an incredible organization. The manner in which Collins thought of these rules is by examining 11 extraordinary organizations that were chosen from a rundown of Forbes 500 organizations and esteemed incredible organizations utilizing a rules made by Collins look into group. These 11 organizations were than each contrasted with an organization in a similar industry with comparative assets yet who didn't proceed just as the extraordinary organizations in the multi year time length in which the organizations were examined. Collins had the option to make the flywheel idea out of his examinations which is separated into 6 sections. The one that is the focal point of this paper is the level 5 administration. Through the investigation of the incredible organizations and through examination with different organizations, one of the main considerations of the accomplishment of those organizations was the kind of administration set up in the organization. It takes a pioneer with two qualities to lead a really incredible organization to that achievement and those are: individual modesty and expert will. The manner in which an organization can really be incredible is by using a level 5 pioneer who represents the characteristics that Jim Collins depicts in his book, Good to Great. A pioneer is at their best when they can challenge the laborers in the organization and to rouse them by the manner in which they lead. What is diverse about the level 5 pioneer that Collins depicts is in the oddity, all things considered, A pioneer hushes up, laid back, nearly to the point of being viewed as timid yet simultaneously there is this unimaginable drive to be simply the best not for oneself but since that is what is best for the organization. The pioneer is placed in that position of the organization to shake things up and change the organization culture however the pioneer doesn't need to be some superstar from an alternate organization here to make all the difference. No, this pioneer is from inside the organization, he has a universal knowledge of the organization and he improves it ordinary. Regardless of what the organization consistently starts things out before oneself and long after the pioneer is gone the organization will keep on being incredible, truth be told, a level 5 pioneer would view themselves as a disappointment if their replacement and the organization isn't more effective than previously. Alongside that the pioneer makes a culture of responsibility while simultaneously framing a mirror window impact; when things are going extraordinary the pioneer glances out the window to give credit yet when things are turning sour a similar pioneer glances in the mirror to give himself fault. fundamentally he is removing the dread from his representatives so as to make them more put resources into the organization, by doing these straightforward advances the worker moral is kept high both during the great occasions and all the more significantly during the awful occasions. This calm yet very determined individual is the thing that makes a decent organization into an incredible organization. This thought a pioneer must be tranquil and driven so as to be a piece of an incredible organization can't be valid. As a prime model there was Steve Jobs, he was a fellow benefactor of Apple, at that point left and helped to establish Pixar, all before returning back to Apple to make it one of best organizations on the planet today. He was appealling, he was pompous, he was given kudos for the achievement of Apple and he benevolently took it, he was a VIP. At the point when individuals consider Apple they consider Steve Jobs, he made Apple and carried it to its significance. He was not a level 5 pioneer. He was very determined yet he was not the tranquil sort. He would not be the sort of pioneer to simply mix in with the group, rather several thousands would watch him during another item discharge and hold tight all his words. The way that he was fruitful as the CEO of various enormous name organizations while taking a lot of the credit, that was merited, is extraordinary compared to other counterexample to Collins level 5 pioneer. Steve Jobs was amazingly dedicated to the organizations he worked for and he worked enthusiastically to ensure they were as well as could be expected make them however he did the entirety of this by going with his own style that negated the lessons of Collins. There is no unmistakable decision between a pioneer like Steve Jobs and the one that Jim Collins depicts, a level 5 pioneer. There are an excessive number of components in the business world and there are such a large number of various enterprises to attempt to make portrayal of the ideal head. What Collins figured out how to do was to choose 11 organizations that he esteemed incredible and he discovered likenesses between the organizations, one of those similitudes being with the kind of pioneers those organizations had in control. For those organizations and the practices the organizations had set up, that sort of pioneer with individual lowliness and expert will was what was fundamental. For Apple and Pixar it was an alternate kind of pioneer that flourished, and in different organizations it will be that equivalent Steve Jobs sort of pioneer that will lead them to significance. It is preposterous to expect to make a model chief and organizations ought make an effort not to do so they should invest their amounts of energy on finding the pioneer that accommodates their need the best whether that pioneer originates from inside the organization or all things considered.

20 Jokes That Only Book Lovers Will Get

20 Jokes That Only Book Lovers Will Get Everyone loves a good joke, especially if theres a hint of insider knowledge involved. Thats why weve compiled 20 of the best jokes weve found that only book lovers will get. Feel free to share these with fellow literati, because as E.E. Cummings once said, The most wasted of all days is one without laughter.via GIPHYHow does Voltaire like his apples?Candied.Why did the comma break up with the apostrophe?Because it was too possessive.Jay Gatsbys car was a real hit with the ladies.What makes Civil Disobedience such a great essay?Thoreau editing.What would you find in Charles Dickenss pantry?The best of thyme, the worst of thyme.Why did the reader give up on Pride and Prejudice?The characters were too Austentatious.How can you get an A on everything?Commit adultery in a 17th-century Puritan town.Why do writers often feel cold?Because theyre surrounded by drafts.What is Holden Caulfields favorite childrens show?My Little Phony.What do you say to comfort the grammar police?There, their, theyre.Why is John Milton terrible to invite to game night?Because when hes around, theres a pair of dice lost.Why are you unable to make reservations at the library?Because theyre completely booked.What did the librarian tell Shakespeare when he tried to put the newest New York Times Bestseller on hold?No holds, bard.What do you call 2000 mockingbirds?Two kilo mockingbird.How did the high school music teacher create controversy?He had his students read band books.What do you get when you mix alcohol and literature?Tequila Mockingbird.Why was Shakespeare cold after his camping trip?Now is the winter of our discount tent.How did John Green break his ankle?The fault in our stairs.Why is a books plot so important?It builds character.What do pregnant women and apostrophes have in common?Theyre prone to contractions.via GIPHY

Essay on heart of darkness - 1844 Words

Various parallels can be drawn when comparing and contrasting Joseph Conrads Heart of Darkness and Frank Coppolas quot;Apocalypse Nowquot;, while taking into consideration Heart of Darkness is a novella and quot;Apocalypse Nowquot; is a film. These differences and similarities can be seen in themes, characters, events and other small snippets of information including anything from quoted lines to strange actions of the main characters. Both pieces follow the same story line but they are presented in different contexts, allowing for many differences as well as the ability to see how Conrad is able to write a piece of literature that can be transposed to many different settings regardless the time period and still convey the same†¦show more content†¦In Apocalypse Now, Captain Willard utters the line quot;cut em in half with a machine gun and give em a Band-Aid. It was a lie. And the more I saw them, the more I hated lies.quot; The central theme in this line can be seen in bot h quot;Apocalypse Nowquot; and Heart of Darkness. Essentially, this line depicts the truth of colonialism and imperialism, stating that we have the `best intentions and are going to civilize savages, even if we have to kill them, just to gain a sense of control and power. Unlike Heart of Darkness, quot;Apocalypse Nowquot; shows the Americans viewpoint on communism, do to the setting and time period and pulls in some political viewpoints based on the era. The United States, is horrified at the socialist idea that power at the top falls, and one reformed class is created. The United States is afraid that since Vietnam was a communist country that they might have influence on other countries, thus creating a sense of inferiority. Yet another parallel can be drawn between the actions of the characters and elements of the setting. Though it is in slightly different contexts, there are similarities between the French ships shelling into the jungle and Willards crew aimlessly shooting in the jungle. In Heart of Darkness Marlows steamboat passes a French steamer thatShow MoreRelatedHeart of Darkness1958 Words   |  8 PagesSTUDY GUIDE Joseph Conrad, Heart of Darkness Each detail to which your attention is drawn by the Study Guide is part of the puzzle of Heart of Darkness. It is important to notice the details, to ponder them, to see how patterns repeat themselves, and to see how the pieces fit together. Marlows journey and your reading about the journey require constant alertness, discipline, patience, and a willingness to look for what is not immediately apparent. Section 1 A. The Thames Setting 1. NoticeRead More The Darkness of Colonialism and Imperialism in Heart of Darkness1235 Words   |  5 PagesThe Light and Dark of Colonialism in Heart of Darkness      Ã‚  Ã‚   In the opening of his novel, Heart of Darkness, Conrad, through Marlow, establishes his thoughts on colonialism. He says that conquerors only use brute force, nothing to boast of because it arises, by accident, from anothers weakness. Marlow compares his subsequent tale of colonialism with that of the Roman colonization of Northern Europe and the fascination associated with such an endeavor. However, Marlow challenges this viewpointRead MoreThe Meaning Of Heart Of Darkness Essay1138 Words   |  5 PagesNishi Natalia AP Literature Comp The Meaning of Heart of Darkness Although, as a society, we discourage the process of not judging a book by its cover, we have all been guilty of doing it at some point. The first item we look at when we pick up a new book is the title and the cover as a whole. These are two key components when it comes to using our heuristics to decide if a book is worthwhile reading or not. With only two items to judge by, each has to hold significant importance in orderRead MoreHeart of Darkness Essay1068 Words   |  5 Pages1. Some critics believe that in Heart of Darkness Conrad illustrates how ‘’the darkness of the landscape can lead to the darkness of the social corruption.† This statement means that if the environment is dark, then the people in that environment will match the surrounding feeling, which is dark and depressing. For example, if it is a gloomy rainy day, most people feel tired and not as happy. If it is a bright sunny day, the most people feel motivated to get things done and joyful . Yes, thisRead MoreHeart of Darkness Paper984 Words   |  4 PagesHeart of Darkness, by Joseph Conrad, is an intriguing and extremely disturbing portrayal of mans surrender to his carnal nature when all external trappings of civilization are removed. This novel excellently portrays the shameful ways in which the Europeans exploited the Africans: physically, socially, economically, and spiritually. Throughout the nineteenth century, Europeans treated their African counterparts savagely. They were beaten, driven from their homes, and enslaved. Heart of DarknessRead MoreEssay on Heart of Darkness981 Words   |  4 PagesHeart of Darkness The nightmare of Joseph Conrad’s Heart of Darkness is found in its stark portrayal of madness under the influence of an environment filled with desolation. Its protagonist, Mr. Kurtz, was raised amongst civilized people, adapted virtues that were regarded proper in society during the Victorian era, yet when he travels into the Congo, where these qualities are of no consequence, he abandons them to become wild. To understand how Kurtz fell to this emotional corruptness, a readerRead MoreEssay on Heart of Darkness1208 Words   |  5 PagesJoseph Conrads The Heart of Darkness is a dark and haunting tale about the search for a substantial and mysteriously powerful man named Mr. Kurtz. Heart of Darkness centers around Marlow, a sailor and also narrator of the novella. Throughout the work, Conrad uses an array of literary devices to suggest his style of writing. The title of the work itself, The Heart of Darkness, is an example of the use of metaphor. Darkness is a significant part of the books title conceptually. However, it isRead More Heart of Darkness Essay941 Words   |  4 PagesHeart of Darkness Darkness permeates every circumstance, scene, and character in Joseph Conrads novella, Heart of Darkness. Darkness symbolizes the moral confusion that Charlie Marlow encounters, as well as the moral reconciliation he has within himself while searching for Kurtz. Marlows morals are challenged numerous times throughout the book; on the Congo river and when he returns to Brussels. Charlie Marlow characterizes the behavior of the colonialists with, The flabby, pretendingRead MoreEssay on Heart of Darkness934 Words   |  4 PagesHeart of Darkness The dark thoughts, which are usually ignored and not allowed to be brought up in conversation, are pushed back into the remote corners of the mind, but have the ability to run free when man is in his most vulnerable state. Sleep, the unconscious. It is in dreams where twisted stories of malevolence and horror take place. The soul’s core is full of sin from the first minute man is born. Even Adam, the original man, who was born when the earth began its timeline, has sin runningRead MoreHeart of Darkness Essay4410 Words   |  18 PagesThe Visions of Light Vs Darkness When Joseph Conrad composed Heart of Darkness he created a literary masterpiece which embodied the essence of light contrasting with darkness. Throughout the novel Conrad constantly utilizes the images of light and dark and uses them to mold a vision, which the reader is then able to use to decipher the literal and metaphorical meanings of the novel. As Conrad said, my task which I am trying to achieve is, by the power of the written word to make you hear, to

Is Abortion A Bad Thing Essay - 1488 Words

Abortion, a strong word that has multiple meanings. In a room full of people when this word is mentioned it quickly brings attention to the speaker. Different opinions and different beliefs is something that will always be a problem when it comes to this topic. Although many people believe abortion is a bad thing, there will always be the other half of the people that believe abortion isn’t good, but it might be the safest way to go. In addition more than 750,000 teenagers become pregnant every year. These young girls clearly have no idea how to take care of themselves, so to think they would have to take care of a baby is insane. We believe that teenage girls who want to get an abortion have every right to without parental consent. Whether a young girl is 16 or 21 they should know what they are doing and getting themselves into the minute they get pregnant. Furthermore, abortions will continue to happen with or without parental consent, young girls deserve to do what they desire with their body. In the end whether someone convinces a young teenager to not get an abortion or to go through with it, they will not help or support them in anyway. Among the same lines, having an abortion can be the best way to go in many occasions. Although many people disagree with abortions they don’t realize the consequences that having an unwanted baby may bring. March 3, 1970, in support of abortion legal organization support, the pseudonym Jane Roy (JaneRoe) McCaw lie to himself by theShow MoreRelatedIs Abortion A Bad Thing?1357 Words   |  6 Pagestwo types of abortion: one is spontaneous abortion and the other is induced abortion. Although these two are all abortion, the meaning between them is highly different. Spontaneous abortion is the abortion because of embryo or fetus itself or the health condition of the mother. However, unlike spontaneous abortion, induced abortion is the abortion because of the human factor, and it has been a huge ethical issue in today’s society. While there are lots of debates about whether abortion is doable, inRead MoreIs Abortion A Good Thing Or A Bad Thing?878 Words   |  4 Pages Is abortion a good thing or a bad thing? Is abortion good? Is it bad? Abortion is seen different for a lot of people, because everyone has different opinions. In 1973, U.S. Supreme Court held Roe V. Wade said â€Å" protected women’s rights.† The Supreme Court later found out that Roe V. Wade was wrong. It does count that abortion is a women’s right ,but it’s also the child’s right to stay alive. In 2013, 22 states passed abortion but 70 other countries restricted abortion. More and more people areRead MoreEssay on Buddhist view on Abortion686 Words   |  3 Pages It is quite clear from a variety of sources that abortion has been severely disapproved of in the Buddhist tradition. It is also equally clear that abortion has been tolerated in Buddhist Japan and accommodated under exceptional circumstances by some modern Buddhists in the U.S. The situation is similar to that of Roman Catholicism, where abortion, though disapproved of in the strongest terms by Church authorities, is still p racticed by a large number of devoted Catholics and defended by at leastRead MoreAbortion : A Controversial Topic986 Words   |  4 PagesAbortion has always been a controversial topic in the United States for decades. Abortion is like taking the life of someone without their permission so it is technically â€Å"murder†. There is no such thing as an unwanted child, millions of families in the United States are always willing to adopt. On the other hand, there are circumstances where a woman can barely care and sustain herself so chances are that she will not be able to take care of her child. Or when a rape occurs, having an abortionRead More Abortion Essays691 Words   |  3 Pageshave an abortion it’s their business and no one else’s. A woman should be able to get an abortion without having to be discriminated by people. I don’t think abortion is pretty but neither is heart surgery. I do think abortion is bad but I think it’s important that w e can all have our own choices. nbsp;nbsp;nbsp;nbsp;nbsp;I have looked at it from both sides and actually I agree with both sides. I don’t know if that’s a good or bad thing but I personally think that it’s a good thing. I’m notRead MoreAbortion is the Destruction of a Human Being Essay1010 Words   |  5 Pagesbaby? Babies are the most precious things in the world. Most people love babies I know I do, I’m having one of my own and happy to say my baby is coming to this world and me becoming a mommy. Abortion shouldn’t be allowed anywhere it’s the worst thing in the world. The important ways of looking at the issues of abortion are most categorized into five major points, legal precedence, birth control issues, human rights, religion, and when life begins. Abortions can cost around $350 to more than aRead MoreMaking a Decision about Abortion679 Words   |  3 PagesIn today’s world abortion is a big issue for woman concerning the fact that for years it had been said that abortion should not be legal, but some people believe it should. Many people feel aborting an unwanted child, or killing an unwanted child should be against the law and which I feel it should be illegal. Many people dont even know what an abortion is, or who can receive abortions. I feel a womans body is her own, and can do whatever she wants with it, but I also think that babies life shouldn’tRead MoreArgumentative Essay On Abortion1380 Words   |  6 PagesAbortion the deliberate termination of a human pregnancy, most often performed during the first 28 weeks of preg nancy. Abortion is one of the most common medical procedures preformed in the United States each year. More than 40% of all women will end a pregnancy by abortion at some time in their reproductive lives. Abortion, it is simply the one of the most debated issue in our society today. â€Å"Is abortion bad?† â€Å"Is the fetus a baby?† â€Å"Why is it bad to kill a fetus if it’s not living?† The simpleRead MoreAbortion Is One Of The Biggest, Controversial Issues In1701 Words   |  7 PagesAbortion is one of the biggest, controversial issues in the United States. In today’s fsociety it s almost split in half, 44% of people are pro life making 66% pro choice. With those stats, that shows us how close this world wide this issue is, and how this isn’t one outcome that is clear enough to be right. In my personal opinion I am pro choice, most of the time but sometimes I feel myself being pro life. This topic is so touchy and for a good reason. Bab ies and life, what everyone in the worldRead MoreShould Abortion Be Legal?923 Words   |  4 PagesAbortion is an extremely controversial topic, which brings out strong opinions on whether or not it should be illegal. â€Å"The U.S. Supreme Court legalized abortion in the Roe v. Wade decision in 1973† (emedicinehealth). Abortion is a widely discussed topic throughout the American society, some people find it to be a good thing, and others find it to be a bad thing, and lastly some people find there to be pros and cons of abortion. As Americans we have the choice of who to marry and where to live, so

Index Numbers of Commodity Prices and Industries Free Essays

Index Numbers of Commodity Prices and Industries In India index numbers are constructed for a wide range of economic subjects and their use is constantly increasing. The construction of index numbers started in India as early as the last quarter of 19th century. The main use of index numbers is to facilitate the assessment of average changes over the years with regard to wide range of economic activities. We will write a custom essay sample on Index Numbers of Commodity Prices and Industries or any similar topic only for you Order Now Many official and non-official agencies compile and publish index numbers of various kind. Index number of industrial production The Index Number of Industrial production was first compiled by the Office of the Economic Adviser to the Government of India with base 1937 = 100. The index has been revised from time to time with respect to the base year, the basis of weighing and the coverage of items. The current index number is with base 1970 = 100 and the items covered are divided into four groups, viz. , i. Basic industries, it. Capital goods industries, iii. Intermediate goods industries and ‘v. Consumer goods industries. Index numbers of commodity prices Index Number of commodity prices may be broadly classified as index number of wholesale prices and index number of retail prices. ) Index number of wholesale prices- The wholesale price index number are of two types: i. The general purpose index is constructed with a view to reflect the changes taking place in the general price level; hence it includes a large number of commodities. i’. A sensitive index on the other hand serves as an indicator of the movements of the general price levels and it includes only few important co mmodities which generally react quickly to the market trends. The current index number of wholesale prices has 1970-71 as the base year. (b) Index number of retail prices- The chief retail price index numbers ompiled in India are i. Labour bureau index number of retail prices for urban centres and it. Labour bureau index number of retail prices for rural centres. The Labour Bureau, Ministry of Labour, Government of India, compiles and publishes the index number of retail prices for 18 selected urban centres and 11 selected rural centres in various parts of the country on monthly basis. The index number initially had 1944 as the base. Now the construction of this index number is discontinued and it is replaced by simple price relatives of certain selected articles of consumption ith the calendar year 1960 as base year. c) Consumer price index numbers- The consumer price index number compiled and published by the Labour Bureau are important indicators of the changing economic situation in the country. At all India level three different series of consumer price index numbers are compiled. They are: i. Consumer price index of industrial workers, it. Consumer price index for non-manual employees and iii. Consumer pri ce index for agricultural labourers. http://classofl . com/homework-help/statistics-homework-help/ How to cite Index Numbers of Commodity Prices and Industries, Papers

Superman and Me free essay sample

In the article â€Å"Superman and Me†, Sherman Alexie gives a biography of his life as a poor Indian boy who successfully self-educated himself through literature. Through the medium of past experiences as a minority with a strong hunger for learning, Alexie reminds everyone of the potential for an individual to overcome adversity through perseverance and diligence. With an informal tone pervading throughout his article, Alexie aims considerably at non-Indian children, hoping to give initiative on the power and importance of education for minority students like him. Despite being characterized as a minority in the past, he was able to break away of stereotypes on society as a result of his race. Ultimately his ability to erase conventional beliefs on the ethics of Indian children allows Sherman Alexie to successfully portray such a notion. By using alliteration, Alexie prosperously emphasizes his ability to overcome hardship and stereotypical barriers by mentioning his self triumph and then linking it back to his teaching career in the future. We will write a custom essay sample on Superman and Me or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Alexie proclaimed that â€Å"[He] was smart. [He] was arrogant. [He] was lucky,† ultimately proclaiming that despite being pitied by non-Indians for being different from other students, he refused to give up on his passion for learning, and found reading as a habitual hobby of his. Note that he specifies his characteristics in a particular order putting â€Å"smart† as his first, because he first begins his narrative telling the audience that he was a child prodigy who was able to self-teach himself literature and reading comprehension through actions and visuals. He then goes on to being â€Å"arrogant† since he chose to be aloof from other students by being a â€Å"smart Indian,† after realizing his prodigy-like mentality. In the beginning he also mentions these statements in the past tense, then ending his article by saying the same statements in the present tense, exemplifying two different purposes to his statements. In his first statements, he uses the three sentences to proclaim his ability to break away from stereotypes a child of Indian heritage. In the last paragraph, however, Sherman uses these statements differently, professing his future initiative in teaching and believing he is smart, arrogant, and lucky for sharing his knowledge to the younger individuals. By doing so, Alexie is able to successfully portray his two successful triumphs by using the same statement in a different meaning. The purpose of Superman was not solely as a stepping stone to Sherman’s prosperous reading in writing, in that the figure of Superman also implies to the author as that of a superhero figure. In the beginning, Sherman notes that â€Å"Superman is breaking down the door,† and in the end, he mentions himself â€Å"throw[ing] [his] weight against their locked door. The door holds.† Notice that the author specifically used the action of â€Å"breaking† and throwing his weight onto the door rather than opening or leaning on the door, since Sherman is attempting to exemplify the ability of Superman to break down Sherman’s door of illiteracy. In the end, Sherman notes that he leans his weight against a locked door at a school setting, ultimately linking his action back to that of Superman. Therefore, he was actually describing himself as the superhero who was able to fight off the villain of adversity and break away from the stereotypes that a villain (illiteracy, in this case) was overpowering. Ultimately, his description of Superman breaking down the door and he leaning against a door, exemplifies that Superman is also Sherman.

The Basics of Fiction Writing Essays

The Basics of Fiction Writing Essays The Basics of Fiction Writing Essay The Basics of Fiction Writing Essay Plot The plot (sequence of events) in a short story can be broken into different parts: The exposition is the beginning of the story in which the author establishes the setting and introduces the characters. 1. How does the story beginning engage the reader? (dialogue, action, description, etc.) 2. What essential information does the author include early on? The initial incident is the event which occurs early in the story and which calls the problem or conflict to our attention. 3. What initial incident calls the problem or conflict to our attention? The rising action includes the events which increase the tension between the protagonist and the antagonist. The rising action comprises most of the plot of the story. 4. Jot the plot – Note the events in order and explain how the character struggles. The climax is the TURNING POINT – the conflict must be resolved one way or the other. 5. Decide when you think the TURNING POINT of the story is and explain how the conflict is resolved (Does the character defeat his obstacle? How do you know?) Think of the falling action as the way the author lands the plane of the story 6. What does the character say and do after he has won or lost? Why? 7. What other events, dialogue, descriptions are included after the climax? Why? Now that the plane has landed, the story needs to be resolved or unknotted. 8. Has the character changed in any way? 9. Has he learned anything about himself or his world? Why or why not? What has he learned? 10. What is the last sentence of the story? Why has the author written that sentence? More Plot Also, watch for the author’s use of these techniques: Foreshadowing: Does the author give hints or clues that point to the story’s outcome? Flashback: Does the author leap backwards in time to an incident that helps explain why things are the way they are? (Any action that has happened before the timeframe of the story is called antecedent action.) Suspens

Family Tree and Ancestors of Alfred Sharpton, Jr.

Family Tree and Ancestors of Alfred Sharpton, Jr. The Reverend Alfred Al Sharpton is a well-known civil rights activist and Pentacostal minister. He was preaching in his hometown of Brooklyn, New York, by the age of four, and in 1964, at the age of 10, he was ordained as a minister. His parents divorced the same year, after Alfred Sr. began an affair with Al Sharptons half-sister, Tina - his mother Adas daughter from a previous marriage. In 2007, Ancestry.com discovered that Al Sharptons paternal great-grandfather Coleman Sharpton was a slave once owned by a relative of the late segragationist South Carolina Senator Strom Thurmond. Tips for Reading This Family Tree First Generation: 1. Alfred Charles SHARPTON Jr. was born 3 October 1954 in Brooklyn, New York to Alfred Charles SHARPTON, Sr. and Ada RICHARDS. Rev. Al Sharpton married Kathy Jordan in 1983 and the couple has two daughters: Dominique and Ashley. Second Generation (Parents): 2. Alfred Charles SHARPTON Sr. was born about 1927 in Florida. 3. Ada RICHARDS was born about 1925 in Alabama. Alfred Charles SHARPTON Sr. and Ada RICHARDS were married and had the following children: i. Cheryl SHARPTON1 ii. Alfred Charles SHARPTON, Jr. Third Generation (Grandparents): 4. Coleman SHARPTON, Jr. was born 10 Jan 1884 in Florida according to his WWI Draft Registration Card and the SSDI, although this may be inaccurate, as he does not appear in the 1885 Florida State Census with the rest of his family. He died 25 April 1971 in Wabasso, Indian River County, Florida. 5. Mamie Belle JACKSON was born 25 Feb 1891 in Georgia and died 12 July 1983 in Jacksonville, Duval County, Florida. She is most likely the Mamie SHARPTON appearing in the 1910 Berrien County, Georgia Census, with husband C. Sharpton and son Casey JACKSON. Other SHARPTON siblings are also found in Berrien County in 1910. Coleman SHARPTON Jr. and Mamie Belle JACKSON married about 1910 and had the following children: i. Kate Kanovia SHARPTON b. 1 March 1912 and died 1 December 1979 in Florida. She married Louis Baker, Sr.ii. Remather SHARPTON b. abt. 1914 in Florida and died 1932 in Florida.iii. Jesse SHARPTON b. 23 June 1915 in Florida and died 8 Dec 1973 in Indian River County, Florida. He married Emma WARREN.iv. Charlie SHARPTON b. abt. 1917 in Floridav. Magnolia SHARPTON b. abt. 1918; married Chester YOUNG in 1934 vi. Nathaniel SHARPTON b. 3 May 1920 in Liberty County, Florida and d. 16 June 2004 in Brooklyn, New York. He was fully paralyzed in an accident on 9 September 1951.vii. Ladia Bell SHARPTON b. abt. 1922 viii. Elijah SHARPTON b. abt. 1923; married 1942 Jushita ROBINSONix. Elisha SHARPTON b. abt. 1923; married 1942 Inez COXx. Viola SHARPTON b. 24 Aug 1924 d. 24 Aug 2004xi. Essie Mae SHARPTON b. abt. 1926; married ? GREEN2. xii. Alfred Charles SHARPTONxiii. Leroy SHARPTON b. abt. 1929xiv. Raymond H. SHARPTON b. 24 May 1932 d. 23 Aug 1988 6. Emmett RICHARDS was born abt July 1900 in Henry County, Alabama and died 6 Nov 1954 in Henry County, Alabama. 7. Mattie D. CARTER was born 7 Mar 1903 in Alabama and died Dec 1971 in Eufaula, Barbour County, Alabama Emmett RICHARDS and Mattie CARTER were married abt. 1922 in Alabama and had the following children: i. Ree Dell RICHARDS b. abt. 19233. ii. Ada RICHARDS

Icasualties.Com, Statistics, and Presentation Assignment - 5

Icasualties.Com, Statistics, and Presentation - Assignment Example Specifically, the reporting and graphic presentation of statistics on the website icasualties.com. The website documents casualties in Iraq and Afghanistan since 2003 and 2001 respectively. This analysis will focus only on one aspect of the website, the presentation of statistics relating to Operation Enduring Freedom/Afghanistan. On the left side of the site, a news feed constantly updates on news stories about Operation Enduring Freedom and casualties. The data is presented on the remaining portion of the page. The first set of statistics presented in chart and bar graph format is Coalition Military Fatalities by Year. Both formats clearly depict the rising coalition fatality rate and the fact that 2010 is on track to become the deadliest year in the operation. The accuracy of the figures is incontestable. In this day and age, the U.S. military (as well as those of other nations operating in Afghanistan) cannot hide casualties. As the graph on the following page illustrates (making allowances for this year only being halfway through) the graph presents a minor decline to 2003, and an increasing number of fatalities steadily since. The site then presents charted data of coalition fatalities by year and month. The charts indicate the ebb and flow of fighting throughout the year. Fighting increases when the weather improves and the poppy harvest ends in May. It declines again in the fall as the weather deteriorates. Additionally, a pie chart identifies the nationality of coalition fatalities by country and provides links to the name, unit, date of death and cause of death of each individual. The charting of fatalities for all countries is identical and facilitates comparisons between countries. Finally, a map provides data on all coalition fatalities by province and, again, links to the name, unit, date of death and cause of death of each individual. As with the data sorted by nationality the charting of fatalities for all provinces is identical and facilitates comparisons between provinces.  Ã‚  

Differing views of salvation Essay Example | Topics and Well Written Essays - 1000 words

Differing views of salvation - Essay Example The emphasis on soteriology in Revelation has mainly to do with perseverance. Christ is introduced as the one who died and was raised again. Christ is also the Lamb slain who calls the thirsty to drink of the water of life. This is shown in His anticipated second coming when He is expected to judge the world. As in (Revelation 1:7.). John’s book of revelation is unique because of its apocalyptic nature. In his book, he fosters a sense of crisis, proclamations and impending traumas, which reveals a sense of world-ending catastrophes, which are unimaginable. However, his visions are just to clarify the importance of the churches for God’s purposes in the world and push them to ensure the fulfillment of the purposes. The vision of a slain lamb (Revelation 5) standing victorious underscores that the congregations are supposed to walk faithfully with the one with the definitive triumph. Their suffering can only be saved by the one sitting on the throne because He has power t hat creates, sustains and also brings fulfillment. John talks about the beast, and their allies that conquer with retributive violence, force, deception and domination. It seems like an overwhelming situation that nobody can stand against, but those who follow the lamb wherever He goes come out conquerors (Revelation 14:4). These worship visions also remind believers that despite overwhelming plagues, they can overcome them because the God of Jesus remains the true God and the one worthy of their trust.

Prohibiton :: American America History

Prohibiton What was Prohibition Introduced? In the 1920's American politics was dominated by democracy and the idea of isolationism to keep America prosperous was incredibly apparent. However in 1919, President Wilson passed the 18th Amendment to the American Constitution prohibiting the manufacture, distribution and consumption of alcoholic drinks (any drink containing over 0.5% alcohol). Prohibition was not just a novel American idea, at the turn of the Twentieth Century, other countries were also experimenting with limiting or totally banning the production, distribution and consumption of alcoholic drinks the primary origins can be found all over the world. However, to find the origins for the American Prohibition we must look back to rural America in the Nineteenth Century. Wilson was also pressured into passing the Prohibition Act by the powerful temperance movement during the Great War, claiming that alcohol was unpatriotic as it was made by American's from German descent. Even though he tried to veto the amendment, he was overturned by Congress and reluctantly passed the legislation. The law itself was amazingly ambitious as alcohol was the seventh largest industry in a nation which was ruled by "big business" and was an established and respected as part of the businesses which provided the wealth of America. Although the technical reason as to why the Prohibition Law was passed was because 66% of the Constitution voted for it, one of the main reasons why Prohibition happened was because of its mass support. By 1920, thirty-three out of forty-eight states had passed Prohibition laws, making approximately 63% of the total population of America 'dry'. The main support for Prohibition came from moral crusaders in the South who were very anti-urbanisation like the American Society for the Promotion of Temperance in Boston and the Washington Temperance Society, whose groups grew in number between the 1820's and the 1840's. These groups campaigned against the effects of drinking liquor. Often this excessive drinking was blamed on the industrialisation of the rural areas in many counties as a result of social and economic change at this time. There were some protesters like the Irish Catholics who apparently were against prohibition because of their love of gin (!) as well as the congressmen of Massachusetts who famously said that, "the better the county the higher the alcohol content". Still this was the beginning of the battle where it appeared that it was a case of "cornbelt over conveyor belt".

Report on Inflation

EVOLUTION OF EXCHANGE RATE REGIME: IMPACT ON MACRO ECONOMY OF BANGLADESH by Liza Fahmida A project submitted in partial fulfillment of the requirements for the degree of Professional Master in Banking and Finance Examination Committee: Dr. Sundar Venkatesh (Chairperson) Dr. Juthathip Jongwanich Dr. Yuosre Badir Nationality: Bangladeshi Previous Degree: Master in Finance and Banking University of Dhaka Bangladesh Scholarship Donor: Bangladesh Bank Asian Institute of Technology School of Management Thailand May 2012 ACKNOWLEDGEMENT The dissertation paper entitled â€Å"Evolution Of Exchange Rate Regime: Impact On Macro Economy Of Bangladesh† has been prepared for the partial fulfillment of Professional master in Banking and Finance (PMBF) program conducted by School of Management, AIT, Thailand. I would like to offer my wholehearted gratitude and respect to a good number of people who offered encouragement, data and information, inspiration and assistance during the course of co nstructing this dissertation paper.It would be difficult to prepare the paper and to present it in a lucid manner within stipulated time without the help of my guide teacher Dr. Sundar Venkatesh, Adjunct Faculty, School of Management, Asian Institute of Technology, Thailand. His utmost care, constant support and meticulous supervision guided me through the process. I am indebted to Begum Sultana Razia, General Manager, Monetary Policy Department, Bangladesh Bank, whose sincere co-operation and valuable advice help me to prepare this paper.I would like to thank all of my colleagues and other employees of Foreign Exchange Policy Department and Monetary Policy Department, Bangladesh Bank for their assistance in this regard. I would like to thank all of fellow course mates who contributed through their comments and suggestions to prepare the report in a comprehensive manner. ii ABSTRACT Bangladesh had two different exchange rate regimes- a fixed exchange rate system from January 1972-Ma y 2003 and a floating exchange rate regime since June 2003. After adopting the floating exchange rate regime Bangladesh experienced positive impacts on macro economic development.The variables of the macroeconomic factors have been considered as foreign reserve, workers’ remittances and export proceeds to evaluate the impact of exchange rate over them in this paper. But the ongoing challenges for the country are the depreciating trend in local currency in a highly inflationary economy. The objective of the paper is to evaluate the macroeconomic performance over the regimes and to analyze present currency situation of Bangladesh. iii Table of Content NO. 01 Title page Acknowledgement Abstract Table of contents List of Figures List of Abbreviations Chapter-01 02 1. 1 Rationale 1. Scope 1. 3 Objectives of the study 1. 4 Methodology 1. 5 Limitations 1. 6 Organization 02 Chapter-02 Literature Review 03 Introduction 3. 1 Factors Affecting Exchange Rate 3. 2 Performance of previous and current FX-Regime in Bangladesh rate of GDP 3. 2. 1 Growth Unde 3. 2. 2 Current Account Balance 3. 2. 3 Inflation Situation 3. 3 Justification of Floating Exchange Rate 3. 4 The Transition from Fixed to Float 04 Chapter-04 Performance of Floating Exchange Rate System On Macro Economy of Bangladesh 4. 1 The Export On Macro Economy of Bangladesh Situation 4. 2 Enhancement of Workers Remittance 4. Reserve Position 4. 4 The Growth Rate of GDP 13 14 14 15 7 8 8 8 9 10 10 Chapter-03 Exchange Rate Evolution in Bangladesh 7 Introduction 1 1 1 2 2 2 3 3 SECTION Page I ii iii iv V vi iv 4. 5 Relationship among variables 05 Chapter 5 Preset Exchange Rate Situation Preset Exchange Rate Situation 5. 1 Exchange Rate Movement 5. 2 Reasons for Currency Depreciation 5. 2. 1 High Inflation 5. 2. 2 Low Foreign Direct Investment 5. 2. 3 Trade Deficit Chapter 6 06 Recommendation and Conclusion 6. 1. Control Inflation 6. 2. Reduce Trade Deficit 6. 3 Enhancing Foreign Direct Investment 6. 3 Effective Capital Market 6. Short Term Foreign Borrowings 6. 5 Effective Capital Market 6. 6 Derivatives Market 6. 7 Formation of Domestic FX Market 6. 8 Autonomy of the Central Bank 07 08 References Appendix Trade Deficit of Bangladesh Yearly Reserve Position Yearly data of Workers Remittance Yearly data of Inflation Yearly data of Export, Remittance, Reserve and Exchanger Rate Monthly data of Remittance and Exchange Rat Regression Analysis FDI In Bangladesh 16 17 17 17 18 18 19 21 21 21 21 21 21 21 22 22 22 23 24 25 26 27 28 29 30 31 v LIST OF FIGURES TITLE 3. 4 3. 5 4. 1 4. 2 4. 3 4. 4 5. 1 5. 2 5. 3 5. Exchange Rate Movement immediately after inception of Floating Comparison of month end Real Effective Exchange Rate The Export Volume in US$ The Workers Remittance The Foreign Reserve Position (REER) and Nominal Exchange Bangladesh GDP Growth Rate Rate between 2003-2004. Exchange Rate Movement Figure: Inflation Growth Rate of Foreign Direct Investment Trade Deficit of Bangladesh PAGE 11 11 13 14 15 16 17 18 19 20 vi LIST OF ABBREVIATIONS AD ADB BB FDI FPI FX FY GDP IMF LC Authorized Dealers Asian Development Bank Bangladesh Bank Foreign Direct Investment Foreign Portfolio Investment Foreign Exchange Financial YearGross Domestic Product International Monetary Fund Letter of Credit NEER OANDA REER USD Net Effective Exchange Rate Website of exchange rates information. Real Effective Exchange Rate Us Dollar vii Chapter 1 INTRODUCTION At the preamble of the Bangladesh Bank order, 1972, it is stated that â€Å"Whereas it is necessary to establish a central bank in Bangladesh to manage the monetary and credit system of Bangladesh with a view to stabilizing domestic monetary value and maintaining a competitive external par value of the Bangladesh Taka toward fostering growth and development of country’s productive resources in the national interest. To maintain a competitive external par value of the Bangladesh Taka, as per Foreign Exchange Regulation Act, 1947, Bangl adesh Bank as a central bank of the country, regulates the foreign exchange on behalf of the government 1. 1 Rationale: Exchange rate indicates the global position of economy of the country. The country’s economic development is closely related with it’s foreign exchange system. Foreign exchange rate is a vital component for the country’s economic activities too. Bangladesh has been experienced the floating exchange rate regime since May 2003 and passed a number of Pons and cons in the overall economy.Due to the utmost importance of the exchange rate in the economy, the study has been conducted in this area. 1. 2 Scope: This paper covers the comparison of the fixed and floating exchange regime of Bangladesh. The key factor of this paper is the evaluation of the impact of exchange rate on the fundamental macroeconomic indicators of the economy. Three main fundamental factors have been identified to measure their impact with exchange rate. Those are export, worker s remittance and foreign exchange reserve. The empirical data of 2000 to 2012 has been used to ustify the whole thing. To get an idea about the Bangladesh’s position, some neighboring country’s experience also been compared here. 1. 2 Objectives of the study 1. To evaluate the exchange rate regimes in Bangladesh economy: Fixed and Floating 2 To evaluate the floating arrangement's performance in three macro economic variables: Export, Workers Remittance and Foreign Reserve. 3 To understand the reason for currency depreciation 1 1. 4 Methodology To obtain the objectives of the study, secondary data have collected.The sources of data are Bangladesh Bank, Board of Investment, Export Promotion Bureau, Websites of IMF, ADB, OANDA and other related links. Statistical analysis correlation has been calculated to understand the exchange rate’s significance on the economic variables of Export, Workers Remittance and Foreign Reserve . 1. 5. Limitations There were some limit ations to conduct the study. Being, sensitive, new one, problems were faced to relate with various components and linking with them. And for its very nature, primary data was not available.Since the exchange rate regime is a vast area, it was also challenging to prepare this report within a limited time. 1. 6. Organization There are six chapters in this report. Chapter I is the introduction that divided into six sub sections. Literature Review is in Chapter 2. Exchange Rate Evaluation in Bangladesh has been covered in Chapter 3. Chapter 4 covers Performance of Floating Exchange Rate System On Macro Economy of Bangladesh. Present exchange rate situation is describing in Chapter 5. The last chapter covers recommendation and conclusion. 2Chapter 2 LITERATURE REVIEW The basic policy variables of country is foreign exchange rate that ensured trade, business, long term funding, foreign direct investment, inflation, foreign exchange reserve, inward remittance etc. Various economists opined that the policy of the exchange rate system had a crucial impact on 1990’s economic catastrophe. Nevertheless, it is yet to be proved either theoretically or empirically regarding the role of exchange rate on the indicators of macroeconomic variables. Whatever the case may be, different countries adopt different exchange rate policies.Bangladesh, the focus of this paper, had a fixed exchange rate system in place since January, 3 1972. After more than 31 years, the Central Bank of Bangladesh (Bangladesh Bank) changed it into a floating exchange rate system in June 2003. Bangladesh has been pursuing a floating exchange rate system since then. Dr. Mirza Azizul Islam, the former advisor, Ministry of Finance of the Caretaker Government of Bangladesh, presented a paper in January 2003, right before the shift from fixed to floating regime, explaining the overall performance of the fixed regime and the probable implications of the floating regime on Bangladesh economy.He suggested t hat the experiences of other countries in the region show that floating regime generates greater volatility in exchange rates and this sort of uncertainty is likely to affect adversely the overall trade and investment climate which is already afflicted by many unfavorable elements in Bangladesh (See Islam, 2003). Bangladesh pursued a ‘fixed exchange rate’ regime upto 1979. After that, from 1979 to mid-2003, it followed a managed floating exchange rate system.Repeated depression of the home money, for maintaining a steady real exchange rate as well as keeping away from overvaluation of the local taka, were the prime factors for taking new system of the foreign exchange system. From May, 2003, Bangladesh took almost a new policy known as ‘clean floating’ exchange rate policy by creating fully convertible current account. But capital account convertibility is not yet done. The main reasons for all the policies that Bangladesh took were due to improve export si tuation, decrease import liability with the aim of improving balance of trade.The evidences in favor of the above mentioned opinion have been placed below. Islam( 2003) told that the regulators of the monetary policy decides the exchange rate policy of the country in order to obtain two basic goals. The first one is â€Å"domestic target† that covers preventing inflation rate of inflation, the growth of credit both in Government and Private levels, and also the growth in liquidity and M2. The second reason is â€Å"external target† which considers foreign exchange reserve hike, declining current account balance, prevent exchange rate volatility in the country’s nterbank foreign exchange market as well as balance the exchange rate flow with neighboring countries like India, Bhutan, Sri Lanka, Pakistan etc. Hossain (2005) referreing Rahman and Bayes that Bangladesh took floating exchange rate system due to: (i) global competitiveness; (ii) improve export dimension s ;(iii) eliminate subsidy from export; (iv) reduce import pressure; (v) increase the substitutes products for export. Aziz (2003) showed that according to the statements of the finance ministers for 3 ast decades, the prime causes of devaluation of taka in our country (i) rise in export;(ii) reduce import;(iii) improve local newborn industries; (iv) promote the inward remittances trough pursue wage earners, and (v) increase foreign exchange reserve. As per the â€Å"Financial Sector Review(2006)’ of the central bank of the country, the major reasons of exchange rate policy covers: (i) export promotion; (ii) encourage inward remittances;(iii) keeping the price level stable, and (iv) preserve a variable account situation externally.As a result, all the publications and write-ups have illustrated both directly or indirectly the export-growth and import reduction as the key reasons of the exchange rate policy of the country. Prior to adopting floating exchange rate regime, Isla m (2003) argued that the economic and institutional prerequisites of a floating exchange rate regime are not met in Bangladesh. Some recent studies have tried to explain the behavior of nominal exchange rates of Bangladesh after its transition to the floating rate regime.By doing a correlation analysis, Rahman and Barua (2006) explore the possible explanation of the exchange rate movement. They found that there is a strong correlation (-0. 40) between depreciation and export-import gap as a share of reserves; L/C openings for imports also have a positive correlation (0. 45) with volatility of the exchange rate, which implies that the higher the L/C openings the more volatile is the exchange rate.They conclude that high seasonal demand for foreign currency because of increased import bills, systematic withdrawal of excess liquidity by Bangladesh Bank, relatively faster expansion of credit and higher interest rates on various national savings instruments are the reasons behind the int erest rate hike in the money market and depreciation of the nominal exchange rate. William Miles, 2006 discussed about the effect of exchange rate system (both fixed and floating) on the long term growth in the economy.The effect of fixed rate, pegged rate and floating rate has been discussed here briefly on the basis of several literature reviews and the finding is that fixed and intermediate regimes have a clear, significantly negative impact on growth (holds only for emerging markets not for industrial nations. ) In this paper, the author has given an approach to determine if exchange rate regime itself truly extracts an independent effect on growth.Results here indicate that the effect of fixed exchange rates on growth in emerging markets is not direct, but rather contingent on the existence of macroeconomic imbalances and other distortions in place in the domestic economy. These results seem to conform more closely with exchange rate theory, which posits mostly positive, and fe w negative channels for pegged currencies to impact growth over the long run. Asad Karim Khan, June 2009 examines whether the floating exchange rate regime has any impact on the value of Bangladesh taka i,e does it make any lose on the value of the currency.He shows that regime change has no statistically significant impact on the value of Bangladesh currency once foreign exchange reserve is incorporated in the regression model. Younus and Chowdhury (2006) made an attempt to analyse Bangladesh's transition to floating regime and its impact on macroeconomic variables. They find that output growth in Bangladesh performed well in the intermediate and floating exchange rate regimes. Inflation is lower in the intermediate regime despite higher money supply and exchange rate depreciation. They also find that currency depreciation boosted export growth in the floating regime.Chowdhury and Siddique (2006) have analysed the exchange rate pass through to domestic inflation in Bangladesh. 4 Th e experiences of some countries in the region which implemented major changes in their exchange rate regimes in recent years can provide useful lessons for Bangladesh. I have tried to focus the comparison among different economic indicators between Bangladesh and some of the South Asian Countries (Afghanistan, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka) all of which adopted independently floating exchange rate regimes.Trade and financial policy measures are very important for the country’s economy and out of that consideration, Bangladesh has taken a new exchange rate policy according to the obligations of IMF (article number: VIII), as on 24th March,1994 introducing current account fully convertible. At the same time, Bangladesh was under pressure since it is the member of IMF. As a result, Bangladesh took floating exchange rate system in current account on 31st May, 2003. After that, IMF agreed Poverty Reduction and Growth Facility (PRGF) for our country with a new exchange rate system i,e, floating exchange rate system.However, Younus et al (2006) showed that free floating exchange rate system can arrange the prevention of overvaluation of local currency as it might make the export unattractive in the international world as well as alternative items of importable goods became difficult to bit with import goods. He illustrated that the prime goal of free floating system of exchange rate is supposed to avoid the main misalignment of exchange rate, specially, to stop unpredictable appreciation of real rate of exchange that might affect the demand of the total export of the country.The illustrations also included the encouragement of the export situation and decline the shortfall of the current account, control inflationary situation, and increase the position of inward remittances. Since the independence of the country, Bangladesh is following an dynamic exchange rate system that has been replicated in the nominal exchange rate that were de clared by the central bank of the country time to time. Islam (2003) stated 89 modifications in the exchange rate of Bangladesh currency with USdollar since 1983 and among them, 83 were depression.Aziz (2003) illustrated 41 depreciation in nine years (1991-2000). Younus et al (2006) showed that 130 times depreciation took place between 1972 to 2002 in Bangladesh Taka that also reduce balance of payment deficit. So, this paper, correctly identifies the exchange rate as the main important thing for economic changes of the country. After independence, Bangladesh fixed its Taka’s value with British Pound Sterling on 3rd 1972. Since 1972 to 1990 the Taka was overvalued. So there was a huge deficit in Balance of payment that hurt the economy badly.From 1990 the gap began to narrow down. The exchange rate regime worked quite well in terms of balance of payment, inflation, export and remittance. So there were some debate about incipience of this floating and criticism also rose about competence and preparation of Bangladesh Bank. But Bangladesh Bank performed well in managing the ‘new born’. But there is some volatility in the market in recent past. Bangladesh Bank, as a central bank of the country intervened prudently to curve the volatility and market became stable though Taka remains undervalued.The experiences of South East and South Asian countries showed that they had to intervene in the market for smooth moving. The experience supports the Mr. Kindleberger beliefs that â€Å"market work well on the whole† but occasionally â€Å"will be overwhelmed and 5 need help† from a lender of the last resort. (The Economist, July 19th 2003). So the regulator should be watchful about the market’s behavior and intervene when needed without hesitations. In the developing country these kind of intervention should be proactive rather than reactive.Naeem and Rasheed analyzed another important issue of whether stock prices and exchange rat es are related or not has received considerable attention after the East Asian crises. They said that during the crises the countries affected saw turmoil in both currency and stock markets. If stock prices and exchange rates are related and the causation runs from exchange rates to stock prices then crises in the stock markets can be prevented by controlling the exchange rates. Moreover, developing countries can exploit such a link to attract/stimulate foreign portfolio investment in their own countries.Similarly, if the causation runs from stock prices to exchange rates then authorities can focus on domestic economic policies to stabilize the stock market. If the two markets/prices are related then investors can use this information to predict the behavior of one market using the information on other market. They also claimed that most of the empirical literature that has examined the stock prices-exchange rate relationship has focused on examining this relationship for the develo ped countries with very little attention on the developing countries.This paper will assess whether the exchange rate regime change indeed has created any significant impact on the economy of the nation as well as the comparative analysis with the neighboring countries situation. There are some potentialities as well as difficulties in market based system, so in this study there are some recommendations for the regulator and for the market players. To manage the floating exchange rate, full automation as well as transparency is essential in banking sector. As the capital account of our economy is not convertible there is little scope of capital flight.If the inception of floating exchange rate is the beginning to liberalize capital account immediately that won’t be a wise decision. 6 Chapter 3 Exchange Rate Evolution in Bangladesh Introduction: The world economy experienced some sort of fixed and flexible exchange rate. Before 1875 there was Bimetalism of exchange rate and th en the Gold Standard (1875-1914). During Interwar period (1914-1944) the classical Gold Standard broken down and in July 1944 representatives of 44 countries succeeded to establish the ‘Bretton Woods’ system.Again the oil shock in the early 1970s and the dampen of demand broken down this system and world economy shifted to flexible exchange rate. Bangladesh has been experienced two major exchange rate regimes since the country’s Independence from 16th December1971. A Fixed Exchange Rate Regime from 1972 to 1979 and a Floating Exchange Rate Regime since May 2003. Among the time frame from 1971 to 2003, there were different exchange rate arrangements in terms of the currency mechanism, like: Pegged to Pound Sterling (? :1972-1979;Pegged to a basket of major trading partners’ currencies(? as the intervening currencies):1980-1982;Pegged to a basket of major trading partners’ currencies(US$ as the intervening currencies):19831999;Adjusted Pegged System:2 000-2003;Floatig Exchange Rate System: May 30, 2003Present. All the policies of exchange rate system Bangladesh implemented, with the objectives of accelerating exports, reducing import pressure and improve the balance of trade. After independence, Bangladesh fixed its Taka’s value with British Pound Sterling on 3rd 1972.Since 1972 to 1990 the Taka was overvalued. So there was a huge deficit in Balance of payment that hurt the economy badly. From 1990 the gap began to narrow down. The exchange rate regime worked quite well in terms of balance of payment, inflation, export and remittance. 3. 1 Factors Affecting Exchange Rate: Under Floating Exchange Rate Arrangements Exchange Rate is primarily determined by demand for foreign currency and Supply of foreign currency where demand and supply of foreign currency is also affected by some other sensitive factors.According to Jeff. Madura, (International Financial Management) theoretically demand for foreign currency is determined by several factors like, import payments, service payments which includes income payments, debt service payments, foreign investment (outward) and foreign investment (outward). The supply of foreign currency is composed of export Receipt, service receipts which includes income receipts, debt service receipts, foreign aid (inward) and foreign Investment (inward).Besides those some other factors affect the exchange rate movements. The factors are a)Purchasing Power parity; b)Interest rate parity; c) Relative income differential; d)Government Control; e)Expectations etc. 7 3. 2 Performance of previous and current FX-Regime in Bangladesh To evaluate the performance of Bangladesh considering the two different exchange rate regimes, some data comparison have been made among three neighboring countries in South Asia. Those are India, Pakistan and Sri Lanka. 3. 2. Growth rate of GDP Comparing the percentage of growth rate with major neighboring Countries, the following table shows that Bangla desh was more or less in a similar situation before the adoption of floating exchange rate regime. Since 2003 with the new floating exchange rate system, there is also a positive trend of the GDP growth rate except 2009-2010. The global recession affect the overall growth of the country at that time. Table 3. 1: Growth rate of GDP (% per year) Y Country Banglades h India Pakistan Sri Lanka 2001 5. 3 5. 8 1. 8 -1. 5 2002 4. 4 4. 0 3. 1 4. 0 2003 5. 3 8. 2 5. 1 5. 9 2004 5. 7 7. 4 5. 5 5. E 2005 A 2006 R 200 7 6. 4 9. 2 6. 8 6. 8 6. 0 6. 6 7. 6 9. 7 5. 8 5. 8 5. 5 7. 7 200 8 6. 2 6. 7 3. 7 6. 0 200 9 5. 7 8. 0 1. 2 3. 5 2010 5. 8 8. 6 4. 1 7. 6 2011 6. 3 8. 2 2. 5 8. 0 Source: Asian Development Outlook-2004 and 2011, ADB 3. 2. 2 Current Account Balance In comparison to other major South Asian countries, the table no. -2 shows that Bangladesh's achievement in terms of containing current account balance is better after the adoption of floating exchange rate regime (since 2003). It has d one consistently better than some of the neighboring countries like Sri Lanka, Pakistan, and India in all recent years excepting 2005.Table No. 3. 2 Current Account Balance as Percentages of GDP Y 2003 0. 5 0. 7 5. 9 -2. 2 E 2004 0. 0 0. 3 3. 0 -3. 0 A 2006 1. 3 -1. 2 -3. 9 -5. 3 R 2007 1. 4 -1. 4 -4. 8 -4. 3 Country Banglades h India Pakistan Sri Lanka 1999 -1. 5 -1. 1 -3. 0 -3. 6 2000 -1. 1 -0. 8 -0. 4 -6. 4 2001 -2. 3 0. 2 0. 6 -1. 5 2002 0. 4 0. 8 4. 6 -1. 8 2005 -1. 5 0. 3 2. 1 -3. 5 2008 0. 9 -2. 4 -8. 5 -9. 5 2009 2010 2. 7 3. 7 -2. 8 -5. 7 -0. 5 -3. 0 -2. 2 -3. 8 2011 0. 2 -3. 5 -1. 7 -4. 0 Source: Asian Development Outlook-2011, ADB 8 3. 2. Inflation Situation Exchange rate regime and inflation are relevant because a change in the exchange rate is almost certain to cause a change in the domestic price of tradable and indirectly the price of non-tradable also. The international competitiveness of the economy is badly eroded by inflation. It generally encourages capital fligh t, exacerbates income distribution, gives rise to inequities in income distribution and aggravates poverty. The relevant data are presented in the following table no. -3. Table 3. 3: Inflation in Bangladesh and Selected South Asian Countries Y 2002 200 3 2. 8 4. 4 3. 4 3. 5 10. 2 5. 3 3. 1 2. 6 E 200 4 4. 5. 0 4. 0 A 2005 5. 2 5. 0 6. 2 2006 7. 2 5. 2 7. 9 10. 0 R 200 7 7. 2 5. 0 7. 8 15. 8 Country Banglades h India Pakistan Sri Lanka 1999 8. 9 3. 3 5. 7 5. 9 2000 3. 4 7. 2 3. 6 1. 2 2001 1. 6 4. 7 4. 4 11. 0 200 8 9. 9 8. 7 12. 0 22. 6 200 9 6. 7 2. 1 20. 8 3. 4 2010 7. 3 9. 2 11. 7 5. 9 2011 8. 0 7. 8 16. 0 8. 0 Source: Asian Development Outlook-2011, ADB It is showing that there is an increasing trend of inflation since the adaptation of floating exchange rate regime. Data on inflation rates represent period averages. Except for India, which reports the wholesale price index, inflation rates presented are based on consumer price indexes.The higher inflationary situation take plac e due oil and food price hike in the international market as well as several natural disaster like, Sidor, flood etc. 3. 3 Justification of Floating Exchange Rate: From the above mentioned data analysis, it can be said the previous regime performed quite well in certain criteria. The major reasons behind the adoption of new exchange rate system is mainly the government’s commitment to the liberalization of the country’s economy and to take the appropriate steps to create suitable environment of the economy for entering into capital account convertibility regime.Rather than this, there was IMF's ‘conditionalities' to enter into new floating exchange rate regime. 3. 4 The Transition from Fixed to Float: To meet up the economic demand and to fulfill the IMF conditionality, on 29 May, 2003 Bangladesh Bank issued a circular stating- effective from 31st May, 2003, Bangladesh Bank floated its exchange rate and followed a fully market based exchange rate for Taka. Under this arrangement, exchange rate is determined on the basis of demand and supply of the respective currencies.Immediately after the inception of floating exchange rate banks, economists, currency traders and businessmen have welcomed the deregulation of the exchange rate saying that 9 the country's foreign trade and remittance would get a boast up due to it and it would make the currency market more efficient and effective. Since the introduction there is no unusual raise of exchange rate till mid 2004. Most of the time Taka maintains appreciating position during this period and Bangladesh Bank show a tremendous performance managing the ‘new born' exchange rate system.During mid 2004, Taka faced significant volatility against USD and it continued up to August 2004. After that period, the volatility of exchange rate of Taka against USD eased but resulting to appreciated USD till mid January 2005. In recent times, Taka has depreciated significantly against USD in the inter-bank m arket. This has happened as because of price hike in oil price and scrap vessel in the international market created a surge on import settlements. Figure3. 4: Exchange Rate Movement immediately after inception of Floating Exchange Rate Movment 58. 7 58. 65 58. 6 58. 55 58. 5 58. 45 58. 4 58. 35 58. 3 58. 25 58. Exchange Rate TK/$ Jun'-01 Jun'-04 Jun'-08 Jun'-11 Jun'-15 Jun'-18 Jun'-22 Jun'-25 Jun'-29 July'-03 July'-07 July'-10 July'-14 July'-17 July'-21 July'-24 July'-28 Banking days Source: Bangladesh Bank Unpublished Data Behavior of Real Effective Exchange Rate (REER) and Nominal Exchange Rate: REER is considered as a guiding FX-rate to the policy maker as well as the market participants and it also shows the international competitiveness of countries goods and services. The policy makers are always tried to keep the Nominal Exchange Rate near to the REER. Before 1990 Taka was overvalued (see table no-01,02 and 03. that distorted our international competitiveness and that was the causes of prolonged Balance of Payment crisis. Figure3. 5: Comparison of month end Real Effective Exchange Rate (REER) and Nominal Exchange Rate between 2003-2004. 10 July'-31 62. 00 61. 00 60. 00 Behavior of REER and Nominal FX-Rate Rate TK/$ 59. 00 58. 00 57. 00 56. 00 55. 00 54. 00 REER-2003 53. 00 Nominal TK/$-2003 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec REER-2004 Nominal TK/$-2004 Months Source: Bangladesh Bank Unpublished Data After 1990, Taka remained undervalued. The gap between Nominal Exchange Rate and REER were widened over the period.Before inception of floating exchange rate Taka was almost running on a free float for the last 12-15 month as rates were decided according to demand-supply situation and liquidity in market. Bangladesh Bank was also not virtually selling any dollar that time. This means the market has already factored in floating exchange rate. Moreover, before inception Bangladesh Bank took some measures for strengthening regulation, such as, keep ing close observation of Authorized Dealer’s (AD’s) daily activities; especially on ‘Open Position’, gave pressure for reconciliation of NOSTRO account balance, encourage every bank to set up dealing room and ressurized to make payment in due time etc. So we can obviously say that way to the floating exchange rate was prepared. 11 Chapter 4 Performance of Floating Exchange Rate System On Macro Economy of Bangladesh Introduction of floating exchange rate was debatable issue and also there were some criticisms about the competence of Bangladesh Bank's from some corner. But Bangladesh Bank performed a tremendous performance. There was no volatility; no speculation in price and market behaves rationally. If we consider the market statistics, we find that macro economic variables have positive performances over the period of time.Three major variables have been considered for evaluating the impact of exchange rate with them. The variables are Export, Workers Re mittances and Foreign reserve. 4. 1 The Export Situation: The export trend from 1998 to 2011 shows an increasing trend. It is shown here that there is upward trend of export after 2003,i. e, after adopting the floating exchange rate regime, the export has a robust growth in the economy. Figure:4. 1: The Export Volume in US$ Source: Bangladesh Bank Quarterly, January-March 2011 During the global recession, the export trend of Bangladesh was not that much affected mostly for the RMG sector.In the FY 09 and FY 10, the export volume increased significantly. 4. 2 Enhancement of Workers Remittance: The Inward remittances from Bangladeshi nationals working abroad remained strong in FY10 even in the face of global economic slowdown and continued to play an important role in strengthening the current account. Receipts on this sector increased by 13. 4 percent to USD 10987. 40 million in FY10 from USD 9689. 26 million in FY09. The underlying reason was that Bangladesh Bank has simplified the approval policy of drawing arrangements between foreign exchange houses and domestic banks.As a result, 40 banks 12 have been allowed for establishing 885 drawing arrangements with 300 exchange houses all over the world for collecting remittances, (of which approximately 650 drawing arrangements with 250 exchange houses are operative now). Figure-4. 2: The Workers Remittance Source: Bangladesh Bank Quarterly, January-March 2011 Considering the growth rate of workers’ remittances, it has been observed that the rate is quite higher after the free floating exchange rate regime that is 20. 52 % (2003-2010) than that of fixed exchange rate regime of Bangladesh which is calculated as 11. 9% (19932002). The increasing amount of workers remittance helps to balance the trade deficit in a prudent manner. 4. 3 Reserve Position: The amount of foreign exchange reserve has been increased significantly over the last couple of years. During the FY 2003 to FY 2005, the trend was quite steady and flat. But, it has an upward trend after FY 2007. The main sources of foreign reserve are workers remittance, foreign loans and grants and exports. 13 Figure-4. 3: The Foreign Reserve Position Period Reserves($) 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 2010-2011 469. 6 2705 2930 3483. 8 5077. 2 6148. 8 7470. 9 10749. 7 10911. 6 Source: Bangladesh Bank Quarterly, January-March 2011 After the inception of floating exchange rate regime, the foreign exchange reserve boosted up due to huge amount of workers remittance and increasing trend of export. 4. 4 The Growth Rate of GDP: The GDP growth rate reaches upto 6. 7% during FY 11. From 1994 to 2010, the average growth rate of GDP was 5. 47% reaching at high of 6. 63% in June 2006. The record low rate was 4. 08% during June 2004. For the last couple of years the growth rate was 5% above and Bangladesh is onsidered as a developing country. Figure-4. 4: Bangladesh GDP Growth Rate Source: Bangladesh Bureau of Statistics,2011 14 4. 5 The relationship among the variables: The relationship between the exchange rate and three variables i,e, export, remittance and reserve reflects quite positive in correlation. The correlation has been computed considering the data from 2002-2011. Correlation Exchange Rate Export 0. 928315219 Remittance 0. 859373146 Reserve 0. 825444493 One regression analysis has been done with workers remittance and exchange rate.The purpose of the quantitative analysis is to identify if there is any relationship between exchange rate and workers remittance of Bangladesh. The monthly data of workers remittance from the financial year 2007-2008 to financial year 2011-2012 has been taken for the calculation. The regression model, exchange rate is independent variable and remittance is dependent variable. The regression model is: Y=66. 15+. 010385 remittance The value of R square is . 37 which means that the regression model explains 37% variation in exchange rate. T he coefficient is very low which is and P value is quite high that is 3. 74.So, the remittance does not show any significant impact on foreign exchange rate. 15 Chapter 5 Exchange Rate Situation 5. 1 Exchange Rate Movement: In the recent Taka depreciates against US$ drastically: Over the period, July 2010-January 2012, from Tk 70 to Tk 86 — a depressing 23% fall down. Figure-5. 1: Exchange Rate Movement Source: Website OANDA The sharp fall of taka against US dollar continues for last couple of months. US dollar has been weakening against many other strong currencies like Euro, SF, Yen and GBP but getting stronger against Bangladesh Taka. Exchange rate depreciation creates the economy in a challenging situation.Continuous depreciating tendency higher the inflation rate that ultimately increase the trade deficit. The ongoing depreciation of Bangladeshi taka is becoming the challenge for the central bank as well as the Government. The increasing trend of the trade deficit (figur e: 7) also shows the possibility of the shortage of supply of the foreign currency i,e, US$ in the market. 5. 2 Reasons for Currency Depreciation: The reasons behind the currency depreciation are influenced by economic fundamental, exchange rate regime and Trading rules. There is a slow trend of capital inflow in the country for the last couple of years.The main reasons for that are low tendency of foreign direct investment and increasing trend of trade deficit. 16 5. 2. 1 High Inflation: Inflation is appearing as a major threat in the economy in the recent past. Inflation had a moderate trend upto 2003 within 6%. It started increasing from 2004 and got sharp rise in 2008-2009 and the increasing trend is still continuing. The main cause of high inflation in Bangladesh is oil and food price hike in abroad. Figure 5. 2: Inflation Source: Monthly Economic Trend-Bangladesh Bank, January 2012 The high level of inflation in the economy leads to lower the value of local currency taka.To co ver the deficit budget, Government borrowings from the Central Bank (BB) and overall money supply increased leads to high inflation in the market. 5. 2. 2 Low Foreign Direct Investment: The growth rate of foreign direct investment is showing a declining trend. The data has been used from 1996 to 2011. After 1998 and so on, the trend started to decline sharply. It increased a little bit during 2004-2005 but again has a very declining trend. 17 Figure-5. 3: Growth Rate of Foreign Direct Investment Source: Monthly Economic Trend-Bangladesh Bank, January 2012 In the recent past, the FDI growth rate is severely low.So, proper steps are supposed to be taken by the government authority. 5. 2. 3 Trade Deficit: Though the export volume has an increasing trend since the inception of floating exchange rate regime, there is huge amount of trade deficit with an increasing trend. 18 Figure: 5. 4 Trade Deficit of Bangladesh Source: Monthly Economic Trend-Bangladesh Bank , January 2012 The amount o f import has been increased sharply after 2006-2007. The gap between export and import becomes huge during the last financial year 2010-2011. Due to huge import payment, government debt has increased significantly in the country and demand for foreign currency increased. 9 Chapter 6 Recommendations and Conclusion Considering the above mentioned discussions, some recommendations have been formulated in order to bring stability in the foreign exchange market in the short run and long run for the Government and Bangladesh Bank i,e, the central bank of the country. Those are discussing as follows: 6. 1. Control Inflation: Effective measures are needed to be taken by the central bank to control inflation by reducing money supply in the economy. The formulation of the tighten monetary policy by the central bank is an important factor for controlling inflation.But the deficit budget of the Government creates huge Government Debt and prolong inflationary atmosphere. The related factors for reducing deficit budget 6. 2. Reduce Trade Deficit: One of the important components to reduce the trade deficit is to enhance export volume of goods and services. Bangladesh is a import depended country. The main importable items are petroleum and food. Local industrialization is utmost important specially in the food sector (substitute food items production) and other exportable items to reduce huge liability of the Government. 6. 3 Enhancing Foreign DirectInvestment: Sufficient inflow of foreign direct investment could enhance the capital inflow in the country for long term. Bangladesh Government has specific policy for inviting FDI. Ensuring good governance, Infrastructural development, Utility, political stability will help to promote more investment from abroad in the country. 6. 4 Short Term Foreign Borrowings: Borrowings from abroad is another option for supplying liquidity in the market. But the problem of short-term borrowing is that the country may fall into â€Å"Debt-tr ap† due to be unable to pay the money on time.Once the foreign currency injects in the market, it is difficult to recollect form the market as well. The Central Bank of Philippines in early 1990 can be remembered here. Due to short-term borrowing to meet the local market demand, got huge foreign liability. Continuous losses eroded it’s capital base and made it bankrupt in 1993. It took 25 years to reestablish the new central bank in that country. So, Instead of foreign borrowings, Concessionary loans at a low interest rate from World Bank and ADB and other bilateral donors might be a better option to meet the ongoing gap in the market. . 5 Effective Capital Market: The capital market development is utmost important in order to bring the steady situation in FX market. Ensuring enough flow of Foreign Portfolio Investment (FPI), good governance and security in the capital market is time demand. 6. 6 Derivatives Market: Introduction of various derivative products as options , currency swap, interest cap, interest swap, futures, forwards etc, as well as ensuring huge portfolio investment might bring the positive impact in the exchange rate market. 20 6. Formation of Domestic FX Market: A formal forex market forum should be created, with the participation of independent professional bodies and with representation from the dealers association, Bangladesh Bank and other relevant government officials. This forum would provide the logistic support and platform for the forex market. Ideally, this forum would develop a secured web-based market to which only the members or participating organizations would have access. From this website, all the logistic support required for completing the forex dealings among the members/participating organizations could be provided. 6. Autonomy of the Central Bank: The autonomy of the central bank is desirable issue for the economy. The central bank should operate and perform independently with full automation. Conclusion: Th is study shows that floating exchange rate regime has constructive effect on economic growth. The transition period from Fixed rate regime to Floating rate regime was quite smooth and stable. There is significant growth in the fundamental economic variables on the long path of the new exchange rate regime. The trend of export, workers’ remittances and foreign reserves have been analyzed and found considerable growth on these variables.Nevertheless, the ongoing exchange rate depreciation along with high inflation is becoming a challenging issue for the regulators and Government as well. The gap between demand and supply of foreign currency in the market is getting bigger in the high inflationary economy which lead continuous loses in the value of the local currency. The key reasons have been found for the currency depreciation are inflation, government debt, trade deficit, low FDI etc. The study recommended some issues for Government’s and Central’s bank’s part. The regulation should be proactive rather than reactive.There are some potentialities in this new regime; to reap this potentiality, Government as well as regulators should take effective steps. 21 REFERENCES Asian Development Bank. 2011. Asian Development Outlook 2010 Update. Asian Development Bank. 2006. Asian Development Outlook 2005, ADB: Manila, Philippines. Asian Development Bank. Manila,Philippines. 2005. Asian Development Outlook 2005, ADB: Asad Karim Khan Priyo, June 2009,Impact of the Exchange Rate Regime Change on the Value of Bangladesh Currency. Bangladesh Bank Annual Reports. 2010.Dhaka Bangladesh. Bangladesh Bank Monthly Economic Trend. January 2012 Bangladesh Bank, Scheduled Bank Statistics. July-September 2011. Financial Sector Review, 2006, Bangladesh Bank. Hossain, Akter. 2002, Exchange Rate, Capital flows and International Trade. Hossain, M. A. , and Alauddin, M. , (Fall 2005), Trade Liberalization in Bangladesh: The Process and Its Impact on Macro Variabl es Particularly Export Expansion, The Journal of Developing Areas, Volume 39, Issue 1, 127-150. Jeff. Madura, International Financial Management, 10th edition. Islam, Mirza A. 2003): â€Å"Exchange Rate Policy of Bangladesh – Not Floating Does Not Mean Sinking†, Keynote Paper presented at dialogue organized by Centre for Policy Dialogue, Bangladesh – January 2, 2003. Nusrate Aziz . June 2008. The Role of Exchange Rate in Trade Balance: Empirics from Bangladesh. The IMF, Annual Report 2010, Financial operations and transactions, The International Monetary Fund. Younus, S. and Chowdhury, M. I. , (December 2006), An Analysis of Bangladesh’s Transition to Flexible Exchange Rate Regime, Working Paper Series. 22 APPENDIX I Trade Deficit of Bangladesh Export Import Year (in million USD) (in million USD) 1994-95 3472. 5250. 6 1995-96 3882. 4 6237. 9 1996-97 4418. 3 6436. 8 1997-98 5161. 2 6768. 0 1998-99 5312. 8 7205. 4 1999-00 5752. 2 7536. 6 2000-01 6467. 3 840 1. 5 2001-02 5986. 1 7686. 0 2002-03 6548. 4 8691. 8 2003-04 7603. 0 9812. 9 2004-05 8654. 5 11832. 1 2005-06 10526. 2 13271. 7 2006-07 12177. 9 15441. 0 2007-08 14110. 8 19481. 4 2008-09 15565. 2 20291. 4 2009-10 16204. 7 21388. 2 2010-11 22928. 2 32398. 4 Source: Monthly Economic Trend-Bangladesh Bank , January 2012 Trade Deficit (in million USD) -1778. 1 -2355. 5 -2018. 5 -1606. 8 -1892. 6 -1784. 4 -1934. 2 -1699. 9 -2143. 4 -2209. 9 -3177. 6 -2745. 5 -3263. 1 -5370. -4726. 2 -5183. 5 -9470. 2 23 Yearly Reserve Position In million USD Reserves($) Period 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 2010-2011 Source: Monthly Economic TrendBangladesh Bank , January 2012 2469. 6 2705 2930 3483. 8 5077. 2 6148. 8 7470. 9 10749. 7 10911. 6 24 Yearly data of Workers Remittance: Remittances Year/Month 2011-2012* 2010-2011 2009-2010 2008-2009 2007-2008 2006-2007 2005-2006 2004-2005 2003-2004 2002-2003 2001-2002 2000-2001 1999-2000 1998-1999 1997-1998 199 6-1997 1995-1996 1994-1995 1993-1994 1992-1993 In million In million US dollar Taka Growth Rate 2117. 7 11650. 32 10987. 4 9689. 26 7914. 78 5998. 47 4802. 41 3848. 29 3371. 97 3061. 97 2501. 13 1882. 1 1949. 32 1705. 74 1525. 43 1475. 42 1217. 06 1197. 63 1088. 72 944. 57 157668. 7 829928. 9 760109. 59 666758. 5 542951. 4 412985. 29 322756. 8 236469. 7 198698 177288. 2 143770. 3 101700. 1 98070. 3 81977. 8 69346 63000. 4 49704 48144. 7 43549 36970. 4 Average Rate Growth 13. 39772078 22. 41982721 31. 94664639 24. 90541207 24. 79334977 14. 12586707 10. 12420109 22. 42346459 32. 8903884 -3. 448382 14. 28001923 11. 82027363 3. 389543316 21. 22820568 1. 622370849 10. 00349034 15. 2609 20. 51706112 11. 89409131Source : Foreign Exchange Policy Department, Bangladesh Bank Bangladesh Bank Annual Report 2009-2010 Growth rate is self calculated 25 Yearly data of Inflation Year 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 Point to Point 1. 66 3. 58 5. 03 5. 64 7. 35 7. 54 9. 2 10. 04 2. 25 8. 7 10. 17 11. 59 12 months average 1. 94 2. 79 4. 38 5. 83 6. 48 7. 16 7. 2 9. 94 6. 66 7. 31 8. 8 10. 91 Source: Monthly Economic Trend-Bangladesh Bank , January 2012 26 Yearly data of Export, Remittance, Reserve and Exchanger Rate (In million USD) Workers Year FX Rate Export Remittance in mil US$ (in mil US$) 62. 691 2501. 13 FY02 5985. 89 63. 2216 3061. 97 FY03 6548. 54 64. 0869 3371. 97 FY04 7602. 99 68. 0508 3848. 29 FY05 8654. 52 73. 9865 4802. 41 FY06 10526. 16 74. 1681 5998. 47 FY07 12177. 86 73. 4636 7914. 78 FY08 12685. 4 73. 8228 9689. 26 FY09 14170. 7 74. 5518 10987. 4 FY10 14763. 8 79. 1877 11650. 32 FY11 20313. 8 Source: Monthly Economic Trend-Bangladesh Bank , January 2012 Reserve (in mil US$) 1582. 9 2469. 6 2705 2930 3483. 8 5077. 2 6148. 8 7470. 9 10749. 7 10911. 6 27 Monthly data of Remittance and Exchange Rate Year Month Remittance ( In million USD) Ex rate (average) Year Month Remittance ( In million USD) Ex rate (average) 007-08 2008-09 2009-10 July August September October November December January February March April May June July August September October November December January February March April May June February March April May June July August September October November December January February March April May June 567. 11 470. 95 590. 67 559. 05 617. 39 635. 34 710. 74 689. 26 808. 72 781. 71 730. 26 753. 58 820. 71 721. 92 794. 18 648. 51 761. 38 758. 03 859 784. 47 885. 67 840. 99 895. 3 850. 5 784. 47 885. 67 840. 99 895. 3 850. 5 885. 38 935. 15 887. 57 900. 70 1050. 4 873. 86 952. 39 827. 96 956. 49 922. 16 903. 05 892. 15 73. 6518 73. 4389 73. 5663 73. 3004 73. 2946 73. 473 73. 4672 73. 4063 73. 2738 73. 4847 73. 2841 73. 3473 73. 38 73. 4947 73. 2884 73. 6468 73. 7971 73. 691 73. 7961 73. 8126 73. 8073 74. 1052 73. 9459 73. 9413 73. 8126 73. 8073 74. 1052 73. 9459 73. 9413 73. 9214 73. 6394 73. 7567 73. 7551 73. 5378 73. 8549 73. 8181 73. 9592 74. 2051 74. 0648 74. 4125 74. 6026 2010-11 2011-12 July August September October November December January February March April May June July August September October November December 57. 31 963. 92 837. 71 923. 85 998. 64 969. 10 970. 54 986. 97 1102. 98 1001. 97 998. 42 1038. 91 1015. 58 1101. 79 855. 44 1039. 48 908. 79 1147. 22 74. 5447 74. 4778 74. 5078 75. 0673 75. 3246 75. 5892 75. 8669 76. 0948 76. 8504 77. 8919 78. 42 78. 843 79. 6805 79. 534 79. 7888 80. 9414 81. 9104 84. 1857 28 Source: Monthly Economic Trend-Bangladesh Bank , January 2012 Regression Analysis: Exchange Rate and Remittance SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0. 610778 0. 373049 0. 360993 2. 020275 54ANOVA df Regression Residual Total 1 52 53 SS 126. 2866232 212. 2385435 338. 5251666 Standard Error 1. 622261594 0. 001867047 Lower 95. 0% 62. 90219774 0. 006638903 Upper 95. 0% 69. 41280968 0. 014131912 MS 126. 2866 4. 08151 F 30. 94114904 Significance F 9. 36275E-07 Coefficients Intercept X Variable 1 66. 1575 0. 010385 t Stat 40. 78103 5. 562477 P-value 3. 7402E-41 9. 36275E-07 Lower 95% 62. 90219774 0. 006638903 Upper 95% 69. 41280968 0. 014131912 2 FOREIGN DIRECT INVESTMENT (FDI) INFLOWS AND STOCKS BY COMPONENTS IN BANGLADESH (In million US$) Inflows Period 996-97 Jul-Dec Jan-Jun 1997-98 Jul-Dec Jan-Jun 1998-99 Jul-Dec Jan-Jun 1999-00 Jul-Dec Jan-Jun 2000-01 Jul-Dec Jan-Jun 2001-02 Jul-Dec Jan-Jun 2002-03 Jul-Dec Jan-Jun 2003-04 Jul-Dec Jan-Jun 2004-05 Jul-Dec Jan-Jun 2005-06 Jul-Dec Jan-Jun 2006-07 Jul-Dec Jan-Jun 2007-08 Jul-Dec Jan-Jun 2008-09 Jul-Dec Jan-Jun 2009-10 Jul-Dec Jan-Jun 2010-11 JulyDec. Jan-Jun Source : Stocks Total 366. 85 157. 63 209. 22 603. 30 366. 07 237. 23 394. 10 339. 23 54. 87 383. 22 254. 25 128. 97 563. 92 449. 67 114. 26 393. 76 240. 21 153. 56 379. 18 174. 75 204. 43 284. 16 145. 82 138. 34 803. 78 322. 06 481. 72 744. 61 363. 54 381. 07 792. 4 411. 41 381. 33 768. 69 285. 03 483. 66 960. 59 602. 65 357. 94 913. 02 342. 22 570. 80 Equity Capital 136. 71 40. 79 95. 92 349. 02 236. 14 112. 88 195. 54 167. 63 27. 91 152. 98 109. 56 43. 42 372. 27 306. 76 65. 51 230. 11 168. 27 61. 84 163. 98 71. 97 92. 01 111. 23 64. 13 47. 10 361. 14 108. 79 252. 35 447. 22 173. 24 273. 98 464. 50 229. 67 234. 83 545. 69 166. 78 378. 91 535. 42 430. 34 105. 08 515. 14 113. 47 401. 67 Reinvested Earning 151. 27 79. 92 71. 35 181. 31 92. 10 89. 21 120. 71 100. 67 20. 04 80. 71 56. 19 24. 52 81. 00 53. 25 27. 75 84. 66 37. 26 47. 40 164. 97 69. 42 95. 55 161. 38 74. 58 86. 80 297. 1 152. 99 144. 12 198. 64 103. 36 95. 28 281. 00 169. 46 111. 54 197. 71 101. 70 96. 01 336. 61 149. 72 186. 89 331. 10 178. 05 153. 05 Intracompany Loans 78. 87 36. 92 41. 95 72. 97 37. 83 35. 14 77. 85 70. 93 6. 92 149. 53 88. 50 61. 03 110. 66 89. 66 21. 00 79. 00 34. 68 44. 32 50. 23 33. 36 16. 87 11. 55 7. 11 4. 44 145. 53 60. 28 85. 25 98. 75 86. 94 11. 81 47. 24 12. 28 34. 96 25. 29 16. 55 8. 74 88. 56 22. 59 65. 97 66. 78 50. 7 0 16. 08 Equity Capital †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ 1010. 45 968. 83 1010. 45 1182. 07 1215. 54 1182. 07 1408. 98 1325. 97 1408. 98 1579. 15 1472. 70 1579. 15 1854. 10 1818. 86 1854. 10 2123. 50 1940. 7 2123. 50 2468. 63 2268. 39 2468. 63 2857. 96 2736. 50 2857. 96 3719. 99 3068. 07 3719. 99 3909. 60 3823. 32 3909. 60 5014. 96 4426. 69 5014. 96 Reinvested Earning †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ 505. 89 492. 80 505. 89 470. 44 470. 37 470. 44 505. 13 494. 15 505. 13 637. 75 550. 10 637. 75 708. 43 649. 08 708. 43 880. 01 822. 04 880. 01 974. 18 904. 81 974. 18 1146. 22 1133. 87 1146. 22 873. 76 1109. 59 873. 76 903. 65 742. 04 903. 65 544. 21 474. 06 544. 21 Intracompany Loans †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ 459. 04 428. 96 459. 04 454. 29 475. 85 454. 29 448. 82 382. 08 448. 82 410. 64 427. 89 410. 64 321. 16 408. 03 321. 16 362. 10 328. 7 362. 10 322. 72 363. 95 322. 72 364. 23 316. 86 364. 23 210. 68 221. 12 210. 68 325. 94 250. 66 325. 94 410. 29 378. 17 410. 29 Total †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ †¦ 1975. 38 1890. 59 1975. 38 2106. 80 2161. 76 2106. 80 2362. 93 2202. 20 2362. 93 2627. 54 2450. 69 2627. 54 2883. 69 2875. 97 2883. 69 3365. 61 3090. 68 3365. 61 3765. 53 3537. 15 3765. 53 4368. 41 4187. 23 4368. 41 4804. 43 4398. 78 4804. 43 5139. 19 4816. 02 5139. 19 5969. 46 5278. 92 5969. 46 118. 31 211. 57 12. 64 131. 64 233. 62 71. 26 Statistics Department, Bangladesh Bank. 342. 52 436. 52 5196. 21 5143. 70 533. 65 612. 69 342. 21 462. 67 6072. 07 6219. 06 3

6 Ways To Use the Spanish Preposition En

If you were told that en is a Spanish preposition and were asked what it means, you most likely would guess in or on. And youd be right in both cases. But en can also be translated as at, about, by, on top of, upon, inside of, and other ways, so its use isnt as straightforward as it may appear. The Spanish Preposition "en" The Spanish preposition en frequently means in or on when referring to physical locations.En can also be used to mean in in certain time expressions.En is so used in phrases and following certain verbs with translations that arent always predictable. These idioms and verb phrases must be learned individually. Fortunately, when en doesnt mean on or in, you can usually tell by the context what is meant. Like some other prepositions, en can seem quite versatile to the foreigner. Here are the most common uses: Using En for Locations and Meaning 'In' When it is used in describing locations, en can mean in or inside of. As in the third and fourth examples here, en can also be used this way figuratively. El dinero està ¡ en la caja. (The money is in the box.)Vivo en Espaà ±a. (I live in Spain.)La crisis sà ³lo està ¡ en la mente de las personas. (The crisis is only in the minds of people.)Hay cien cantavos en un dà ³lar. (There are 100 cents in a dollar.) Using En in Time Expressions En can be used in time expressions much as it is in English with periods of time other than days of the week. Llegamos por tren en una hora. (We arrive by train in one hour.)Trabajarà © en el verano. (I will work in the summer.)Esperan aprobar la ley en dos semanas. (They hope to pass the law in two weeks.) With days of the week, a preposition isnt needed: Llegamos el lunes. (We arrive on Tuesday.) Using En for Locations and Meaning 'On' En is frequently used to meet on in the sense of meaning on top of or placed on. El dinero està ¡ en la mesa. (The money is on the table.)Fijà ³ los carteles en la pared. (He put the posters on the wall. Note that the preposition a also could have been used here: Fijà ³ los carteles a la pared.)Las manchas en la cara pueden aparecer por diversos motivos. (Blemishes on the face can appear for various reasons.) Using En in Expressing Values Although not particularly common, en is sometimes used instead of por when referring to costs or similar values: Vendià ³ el carro en $2.000. (He sold the car for $2,000.)Comprà ³ el mà ³vil en un buen precio. (She bought the cellphone for a good price.)Tenemos el cojà ­n ideal para ti en sà ³lo $349.00 pesos. (We have the ideal cushion for you for only 349 pesos.) En in Miscellaneous Expressions Numerous phrases or idioms use en. Most of these need to be learned as phrases rather than simply translating word for word: en broma, as a jokeen busca de, in search ofen cambio, on the other handen casa, at homeen espaà ±ol, in Spanishen honor de, in honor ofen la actualidad, presentlyen la radio, on (the) radio; en la televisià ³n, on (the) televisionen lugar de, instead of, in place ofen secreto, in secreten seguida, immediatelyen serio, seriouslyen todas partes, everywhereen vez de, instead ofen vilo, anxiously awaitingen vista de, in view ofen vivo, live (as in live TV)en voz alta, in a loud voice; en voz baja, in a soft voice. Using En With Certain Verbs When used with many verbs, en is translated as in or on: ayudar en algo, to help in doing somethingcompeter en, to compete inconcentrarse en, to concentrate onconcurrir en, to concur inconfiar en, to trust in; creer en, to believe in; esperar en, to trust inempeà ±arse en, to persist in;insistir en, to insist onintervenir en, to participate inpersistir en, to persist inreflejar en, to reflect onresultar en, to result in. But it can have other translations as well: actuar en consecuencia, to act accordinglyadentrarse en, to get intoadvertir en, to noticeaplicarse en, to devote oneself tocaerle en suerte, to get luckycoincidir en que, to agree thatcomprometerse en, to get involved withconcurrir en, to meet atconsentir en, to agree toconsistir en, to be composed ofconvenir en, to agree toconvertir(se) en, to change intoequivocarse en, to be mistaken aboutextenderse en, to spread overfijarse en, to noticeingresar en, to be admitted toinscribirse en, to register forjuntarse en, to meet atmolestarse en, to bother bypensar en, to think aboutquedar en que, to agree thatreparar en, to noticevacilar en, to hesitate to.