Text
Next morning after having breakfast at the self-sevice bar of the hotel restaurant the participants went to the conference room to have a lecture on Trade Finance.
There was a folder on the big round table for each participant with the material relating to the lecture.
Here is one of the sheets of the file:
Trade finance
à Trade needs finance
à This must come from either the trader or from a lending institution.
à If the trade is international then the amount of finance is noimally greater
à In general, trade is handled on credit
à The buyer pays for the goods at a specified time after receipt
à If the trade is international then delivery time adds to the delay in payment
à This adds to the need for finance
à Also in international trade the buyer uses one currency, the seller another
à This requires an organisation with facilities for changing currencies
à On both counts the Bank is the best source of finance
Thus this page gave the most important hints on the subject.
And Mr. Hill, the lecturer, explained and developed each statement. The participants sometimes interrupted him and asked questions. Sometimes Mr. Lvov came to help when there was a problem of speaking or understanding.
The lecturer devoted some part of the lecture to financing small business companies who usually enjoy better terms, reduced taxes and other facilities especially during the first years oftheir work.
Words and expressions
| nineteen | девятнадцать (числ.) | |
| finance | финансы | |
| to finance | финансировать | |
| next | следующий | |
| next morning | на следующее утро | |
| next evening | вечером следующего дня | |
| next week | на следующей неделе | |
| next lesson | на следующем уроке | |
| breakfast | ['brekf@st] | завтрак |
| to have breakfast | завтракать | |
| folder | папка, скоросшиватель | |
| on | на | |
| round | круглый | |
| table | стол | |
| on the table | на столе | |
| file | папка, досье | |
| to need something | нуждаться в чем-либо | |
| the need for something | потребность в чем-либо | |
| to come from | приезжать из | |
| (came — come) | ||
| either ... or ... | ['аID@...'þ] | или или |
| trader | зд. продавец | |
| to lend (lent — lent) | предоставлять кредит | |
| institution | организация | |
| lending institution | [InstI'tjüSn] | кредитная организация |
| amount | сумма | |
| great | [greIt] | великий, большой |
| greater | еще больший | |
| Then the amount of finance is greater. | В этом случае сумма финансирования увеличивается | |
| in general | в целом | |
| to handle | обращаться с, иметь дело | |
| с, вести | ||
| credit | кредит | |
| on credit | на условиях кредита, в | |
| кредит | ||
| to handle trade on credit | вести торговлю, используя кредит | |
| buyer | [baI@] | покупатель |
| goods | товар,товары | |
| These goods are very good. | Этот товар очень хороший | |
| receipt | [rI'sÖt] | получение |
| delivery | поставка | |
| delivery time | срок поставки | |
| delay | задержка | |
| payment | платеж | |
| delay in payment | задержка платежа | |
| to use | использовать | |
| currency | ['kör@nsI] | валюта |
| to require | требовать | |
| organisation | организация | |
| facilities | [f@'sIlItIz] | средства, возможности, |
| льготы | ||
| to change | менять | |
| on both counts | в обоих случаях | |
| best | лучший | |
| source | [sþs] | источник |
| the best source of finance | наиболее выгодный источник финансирования | |
| thus | таким образом | |
| to give (gave, given) | давать | |
| hint | намек, совет | |
| the most important hints | наиболее важные советы | |
| subject | предмет, вопрос | |
| hints on the subject | советы по данному вопросу | |
| to explain | объяснять | |
| to develop | развивать (ся) | |
| statement | заявление, утверждение; отрицательный отчёт | |
| to interrupt | прерывать | |
| to understand (understood, understood) | понимать | |
| to devote | посвящать | |
| to devote something to | посвящать что-либо чему | |
| something /somebody | или кому-либо | |
| better | лучше | |
| to reduce | [rI'djüs] | уменьшать (ся) |
| tax | налог | |
| reduced taxes | сокращенные, уменьшенные налоги |
Exercises
1. Read the following:
• morning • understanding
during financing
having changing
speaking lending
• next morning, next evening
• after having breakfast
after having lunch
after having dinner
before having dinner
• There was a problem of speaking English.
There was a problem of understanding English.
It was a lecture on financing small business companies.
They enjoyed better terms during the first years of their work.
2. Underline the answers true to the text:
| • When did the participants go to the conference room to have the first lecture? | The next morning. The next afternoon.The same day the group came to London. | ||
| • What material was prepared for the participants? | A video cassette on the topic of the lecture.Material relating to the lecture.A video cassette with sights of London. | ||
| • To what topic or subject was the first lecture devoted? | To banks. To trade finance. To management. | ||
| • Who was the lecturer? | Mr. Hill. Another Englishmen. An American economist. | ||
| • Why did the participants interrupt the lecturer? | To ask questions. To explain some statements to the other participants.To develop some statements for the other participants. | ||
| • What did Mr. Lvov do during the lecture? | He didn't speak.He only read the material in the folder.He helped the participants to speak English and understand the lecturer. | ||
| • About what aspects of small business did the lecturer speak? | Only about some better terms during the first years of business.Only about reduced taxes during the first years of business.About better terms, reduced taxes and other facilities especially during the first years of business. | ||
3. Translate into English:
Затем они отправились в конференц-зал.
М-р Хилл читал лекции "Финансирование торговли".
Перед каждым участником была папка с материалами.
Иногда участники прерывали м-ра Хилла и задавали вопросы.
Андрей помогал им, когда у них возникали затруднения с английским языком.
Лектор посвятил часть лекции малому бизнесу.
Он говорил о более выгодных условиях, сниженных налогах и других льготах.
4. Match English and Russian sentences:
| Trade needs finance. | В обоих случаях лучшим источником финансирования являются банки. |
| This must come from either the trader or from a lending institution | Для торговли необходимо финансирование. |
| If the trade is international then the amount of finance is normally greater. | Оно (финансирование) должно исходить от продавца или финансовой организации. |
| In general, trade is handled on credit. | Покупатель оплачивает товар в указанный срок после получения товара. |
| The buyer pays for the goods at a specified time after receipt. | Это увеличивает потребность в финансировании торговли. |
| This adds to the need for finance | Если это внешняя торговля, то сумма финансовых средств обычно увеличивается. |
| On both counts the bank is the best source of finance. | Обычно торговля осуществляется с использованием кредитов. |
5. Insert articles:
Finance must come from either ... trader or from .. lending institution.
If tiade .. is international then ... amount of finance is normally gieatei.
. buyei pays for ... goods at ... specified time afterreceipt.
If .. trade is international then delivery time adds to ... delay in payment.
Also in international trade ... buyer uses one currency, .. seller another.
6. Insert prepositions:
In general trade is handled ... credit.
Then delivery time adds ... the delay ... payment.
This adds ... the need ... finance.
This requires an organisation ... facilities ... changing cuiiencies. . both counts the bank is the best source ... finance.
7. Translate into English:
папка с материалами Торговля осуществляется с
использованием кредитов.
папка (скоросшиватель) источник финансирования
финансирование торговли в указанное время
продавец после получения
покупатель задержка платежа
в кредит валюта
8. Sum up what Mr. Hill said about:
- sum up — суммировать
• trade finance in general
• financing small business companies
9. Agree or disagree:
Small business companies pay reduced taxes in Russia.
10. Role play:
Imagine you are a lecturer. Speak on financing small business companies in Russia
Text
The next day the session was devoted to the United Kingdom
Banking Sector.
Here is the short summary of the lecture:
| The UK Banking Sector | |
| Retail Banks | 21 |
| Discount Houses | 8 |
| British Merchant Banks | 31 |
| Other British Banks | 167 |
| American Banks | 44 |
| Japanese Banks | 29 |
| Other Overseas Banks | 290 |
| Total | 590 |
| In addition there are 92 Building Societies | |
à Retail Banks: They render numerous services for private customers and have extensive branch networks in the UK. They participate dnectly in the UK clearing system.
à Discount Houses: They are mostly engaged in discounting bills of exchange for the corporate sector.
à British Merchant Banks: These are wholesale banks handling big money for private and corporate customers. They are engaged in mergers, take-overs and acquisitions. They also provide consulting services.
à Other British Banks: Comprise all other UK registered banking institutions and certain banks in the Channel Islands and the Isle of Man. They are controlled by UK companies or individuals.
à American Banks: Comprise the branches and subsidiaries of US banks.
à Japanese Banks: Comprise the branches and subsisdiaries of banks based in Japan.
à Overseas Banks: Comprise the branches and subsidiaries of non- American or non- Japanese banks and Consortium banks. These are jointly owned by other financial institutions, one of which must be based overseas.
à Building Societies: In the past they mostly extended mortgage loans, but nowadays they also widely practice taking in deposits and they practically operate as banks.
Words and expressions
| twenty | двадцать (числ.) | |
| banking | банковское дело | |
| The lecture was devoted to banking. | Лекция была посвящена банковскому делу | |
| retail | розничный | |
| retail bank | банк, обслуживающий мелких клиентов | |
| discount | скидка; учет (векселей) | |
| discount house | учетный дом — фирма/банк, занимающийся учетом векселей и операциями на денежном рынке | |
| merchant | ['mýtS@nt] | купец |
| merchant bank | торговый банк — банк, специализирующийся на финансировании внешней торговли, а также на операциях на рынке капиталов, организации слияний и поглощений фирм и предприятий, различных консультационных услугах | |
| thirty one | тридцать один (числ.) | |
| one hundred and sixty seven | сто шестьдесят семь (числ.) | |
| Japanese | [,³p@'nÖz] | японский |
| overseas | за морем, зарубежом, за границей | |
| two hundred and ninety | двести девяносто (числ ) | |
| total | общий, итоговый; итог, итого | |
| five hundred and ninety | пятьсот девяносто (числ ) | |
| to build (built, built) | [bIld, bIlt] | строить |
| society | [s@'saI@tI] | общество |
| building society | строительное общество — учреждение, специализирующееся на привлечении сбережений населения и кредитовании жилищного строительства | |
| to render | оказывать | |
| numerous | ['njüm@r@s] | многочисленный |
| services | услуги | |
| extensive | обширный | |
| branch | отделение, ветвь | |
| networks | ['netwýks] | сеть |
| branch networks | сеть отделений | |
| extensive branch networks | разветвленная, широкая сеть отделений | |
| to participate | участвовать | |
| clearing | клиринг — расчеты путем взаимного зачета требований (платежей) | |
| clearing system | клиринговая система | |
| to be engaged in something | заниматься чем-либо | |
| to discount | учитывать | |
| bill | вексель, банкнота, документ о признании долга | |
| to discount bills | учитывать вексели | |
| bill of exchange | переводный вексель — приказ выплатить предьявителю определенную сумму | |
| corporate | корпоративный — отно | |
| сящийся к компаниям | ||
| wholesale | ['houlseIl] | оптовый |
| wholesale bank | оптовый банк — банк, специализирующийся на крупных операциях | |
| money | деньги | |
| merger | слияние двух или более компаний для образования одной новой | |
| take-over | поглощение одной компанией другой (часто вопреки ее желанию) | |
| acquisition | [,{kwI'zISn] | приобретение |
| to comprise | включить | |
| certain | определенный | |
| the Channel | пролив Ла-Манш | |
| island | остров | |
| Isle of Man | остров Мэн | |
| subsidiary | [s@b'sIdj@rI] | филиал |
| to be based | находиться | |
| consortium | консорциум | |
| jointly | совместно | |
| to own | владеть | |
| to be owned by somebody | находиться во владении кого-либо | |
| to extend | простираться | |
| loan | кредит | |
| to extend a load | предоставлять кредит | |
| mortgage | ['mþgI³] | ипотека, ипотечный кредит — передача кредитору права на недвижимость в качестве залога за полученную ссуду |
| nowadays | сейчас | |
| widely | широко | |
| to practice doing something | использовать практику чего-либо | |
| deposit | депозит — 1) вклад денег в кредитном учреждении; 2) краткосрочная межбанковская ссуда | |
| to take in deposits | принимать депозит | |
| to operate | работать; управлять | |
| to operate as banks | работать как банк |
Exercises