...strategic advice to 3M’s current CFO D.W. Meline how to manage 3M’s future exposure of the foreign exchange rate risk. In doing so, the overall profile of the company is discussed; the current foreign exchange risk management instruments are described; and conclusions are drawn, followed by recommendations. ABSTRACT This paper is written with a purpose to give a strategic advice to 3M’s current CFO D.W. Meline how to manage 3M’s future exposure of the foreign exchange rate risk. In doing so, the overall profile of the company is discussed; the current foreign exchange risk management instruments are described; and conclusions are drawn, followed by recommendations. International Risk Management: An Analysis of 3M’s Foreign Risk Management International Risk Management: An Analysis of 3M’s Foreign Risk Management Contents Executive Summary 3 Introduction 4 1. Description Historical Exchange Rates 6 2. Foreign Currency Exchange Rate Risk 10 2.1. Current Strategy to Manage Exchange Rate Risk 10 2.1.1. Cash Flow Hedging 10 2.1.2. Net investment hedging 13 2.2. Currency Translation Effects on Business Segments 14 3. Appreciating and Depreciation of Domestic Currency and Foreign Exchange Rate Risk Management 15 3.1. 3M’s Domestic and International Transactions 15 3.2. Appreciation of the Domestic...
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...Introduction The term “foreign exchange” basically refers to buying the currency of one country while selling the currency of another country. All nations have their own, different kinds of money (currency). This has existed throughout the ages, probably since the time of the Babylonians. As trading developed between nations, the need to convert one kind of money to another also developed. This is how a formal system of foreign exchange arose. As trade between nations developed, Britain, as the nation with the largest and strongest navy, could spread its commercial interests far and wide. It therefore became the most active trading nation, with a vast empire of colonies. As a result, Britain’s currency, the pound sterling, became a benchmark to which other currencies were compared (and exchanged) for most of the seventeenth, eighteenth and nineteenth centuries. Today, most currencies are compared to the U.S. Dollar, currently the most active and commercially strong trading nation; many currencies are still “pegged” to the U.S. Dollar for their exchange rate. Because FX risks can be identified, they can be managed. Foreign exchange management requires that governments, companies, and individuals understand the factors that influence the valuation of currency. By identifying these factors, they can enter into transactions that mitigate the risks to acceptable levels. These transactions, or hedge positions, are designed to maximize the economic benefit of foreign exchange receipts...
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...clients all kinds of transaction through the technology. Bangladesh bank keeps monitoring banks performances. Jamuna Bank Ltd is a commercial private bank of the banking sector in our country it provides excellence services to the customers in short time. They always try to provide better services from other banks. So I have chosen Jamuna Bank because it is very first emergence and inception of modern civilization, Bank plays a pivotal role in case of overall financial & socio-economic development of any modern country. Nearly all sector contributed to the GDP growth, particularly significant were the growth of the export-oriented sectors, inflow of remittances and some service sectors like transport and communication. In that case foreign exchange operation of Jamuna Bank Limited plays an important role in the economic development of Bangladesh. 1.2 Background of the Study In the later 19th century, Finance was a part of the Economics. But due to...
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...inversion transaction is that a foreign controlled corporate group can create tax avoidance opportunities by sheltering U.S. profits of the U.S. corporate group with deductible payments made to foreign related parties. Moreover, tax benefits are enhanced to the extent that foreign subsidiaries held by the U.S. group (and thereby subject to the U.S. subpart F rules) are restructured or their operations are otherwise transferred to related foreign corporations that are outside the scope of the U.S. subpart F regime because the new foreign parent’s widely held stock places it outside the definition of a controlled foreign corporation. * Many inversions were subject to full taxation at the shareholder level (and sometimes at the corporate level) under prior law. The absence of gain or availability of losses or other income-sheltering tax attributes, however, often mitigated the tax cost in consummated transactions. Notwithstanding the “toll charge” on inversions under prior law, Congress concluded that corporate inversion transactions should be further deterred because of the significant opportunities to strip earnings out of the United States. Congress also believed that similar benefits could be achieved from inversion transactions involving U.S. businesses conducted in partnership form. * . . . [S]ection 7874 operates to effectively disregard the inversion (i.e., in the case where former shareholders own at least 80 percent of the acquiring foreign corporation) or limit the...
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...poorest country located on South American continent. The acute poverty results in certain issues that need to be addressed, thereby allowing Bolivia to grow into a prosperous nation. Analysis & Discussion What are the Main International Management Problem(s)? After viewing the video, it is found that the major problem lies in the poverty and lack of education of its people and the corruption of its politicians (Buckley, 2009). There are many reasons why other countries, both within and outside of the region, would not want to see Bolivia prosper and increase its financial potential. Many of Bolivia’s neighbors are economically stable and their strength grows yearly. On the other hand, Bolivia itself is going in the opposite direction i.e. the standard of living in this country is extremely low (Eun and Resnick, 2007). One of the biggest problems or issues associated with this managerial problem is the lack of education within the region (Folsom, Gordon and Spanogle, 2001). Many large businesses based in other countries would like to keep Bolivia totally deprived from the education. This lack of education allows them to take advantage of the local population. One reason that is playing a vital role is the fact that most of the foreign businesses leaders believe that if Bolivia begins to...
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...Data Management Project – Pharmacy Management System Requirement Analysis Background At the pharmacy centre of Queens Hospital, New York, pharmacists dispenses the drugs prescribed by the physician to the patients. These drugs were prescribed by the physician in written prescription form. All the prescriptions along with the dispensing information were maintained in the form of written records. These written records were used to track the medical history of the patients. It was very difficult to maintain these details in the form of written records and retrieve them whenever needed. So, the Queens Hospital officials contacted us to give a proposal for work to be done on an electronic database. On December 5 2014, a meeting was held with the health care professionals of Queens Hospital. During the meeting we were able to obtain enough information to provide the health care professionals of Queens Hospital with a Requirements Document. This document outlines the user requirements for a proposed electronic pharmacy records tracking system. Requirements General Constraints, Assumptions, Dependencies, and Guidelines The following items present the general constraints, assumptions, dependencies, and guidelines that are required upon the implementation of the electronic pharmacy record database. * A general knowledge of basic computer skills is necessary to use this product. * Most of the times health care professionals doesn’t have core knowledge on computers. So...
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...guidance they have imparted inside and outside the classroom were always valuable. I would like to express my warm gratitude to the Department of Foreign Affairs for giving me the chance to train under their prominent institution. I also like to thank Mr. Dong Munar, the practicum supervisor for all the trainees for his constant assistance throughout my training. I would also like to thank the Property, Maintenance and Transportation Division for a generous welcome and for teaching me a lot as I train under their department. I am also grateful to my office supervisor, Miss Nena Enano who is always there to support and oversee me all the time. I am very thankful to all my superiors in our office for being such a professional mentor and a virtuous acquaintance at the same time. I would also like to acknowledge my parents for their unwavering love and support as I undertake this summer practicum. They always serve as inspiration in everything that I carry out in life. At the very last, I want to thank God, for allowing me to experience such a wonderful opportunity in my life. His love and guidance is felt and appreciated all the time. 2330 Roxas Boulevard Pasay City Philippines (632) 834-4000 www.dfa.gov.ph LOCATION MAP Historical Background The history of the Republic of the Philippines and that of the Department of Foreign Affairs (DFA) are intertwined. The important events marking the...
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...Globalization continues to open gates of opportunities for most countries. In my opinion, this is gearing towards lessening the gap between the classifications of the country’s global economic status. This reality encourages more and more businesses to expand to other markets where they see would generally increase their profits and revenues. After all, most people do business with one mindset: minimize cost, and increase/maximize the profit. Risks from Foreign Government Policies It is generally true for a fact that most businesses’ next step is to expand to other markets to increase profits. However, expanding to other markets is not as easy as it sounds. There are many risks that affect decisions of businesses to invest in a foreign country. The greatest risk international businesses face is government regulation (Deresky, 2014). Businesses have to follow foreign government policies before they can start doing international business. Although following government policies may sound as easy as checking boxes, foreign government policies tend to change, either favorable for international business or not. For example, countries that have democracy as their political system change government administrations and possibly the policies, every once in a while. Government policies and regulations usually are not just two sides of a coin. There can be many possible government policies that can be implemented that can also lead to many possible countermeasures for an international...
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...oduction B. − − − Are governments prepared to operate effectively in an international policy environment? How can the impacts of globalisation on democratic processes be managed to protect core values such as accountability, responsiveness, and transparency? What future do governments envisage for "global governance"? From Autonomy to Influence -- preparing for a global policy role THE IMPACTS OF GLOBALISATION ON POLICY-MAKING 1. Globalisation has changed the context in which governments operate. Even traditionally domestic issues are increasingly influenced by international actors and international events that are beyond national governments' ability to control, either individually or collectively. This has evoked a good deal of hand-wringing and fears that national policy autonomy -- or even national sovereignty -- is being undermined. These fears, while important, may be short-sighted. While globalisation poses many challenges for national governments, it also holds many opportunities. International co-operation offers new opportunities to improve overall policy effectiveness and to address common policy dilemmas. But are national governments adequately equipped to manage the problems and reap the benefits of globalisation? 2. The following discussion examines the impacts of globalisation on policy making1. It raises questions related to three main themes: 3...
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...Creative analysis on the basis of question - can be dissenting opinion as long as based on facts - 4 to 5 questions, answer all - TIME MANAGEMENT, answer according to marks - topic-centric focus on exams - can argue from two different angles, but WRITE FROM THE POSITION/PERSPECTIVE REQUIRED - OPEN BOOK - bigger topics on diplomatic immunity, human rights situations, sanctions, mixed situations --> CREATIVE ANSWERS Modern Foreign Relations Law and Diplomacy SAMPLE EXAM Question 1 20 points Mr. and Mrs. Egleen Wasterdeen, the ambassador of Westland in Eastland and his wife, hire Happy Face, Inc. to cater their daughter’s wedding reception. Emily, their daughter, is getting married to the older son of ambassador Turgis Maturgis of Northland, Macklem. The costs are estimated at approximately CHF 150,000, and ambassador Wasterdeen signs the estimate, with the handwritten addendum: “If it is a little more, that’s fine.” Some 250 guests attend the reception at a lovely resort by a lake in Eastland’s lake district, 80% of them members of the diplomatic corps. Ambassador Wasterdeen uses the opportunity for a lot of talks with his colleagues, including preliminary negotiations on a trade agreement with Northland. After the event, Happy Face, Inc. presents ambassador Wasterdeed with a bill totaling CHF 189,000. The cover letter states that “consumption of alcoholic beverages has exceeded estimates, and several expensive pieces of china have been damaged.” Ambassador Wasterdeen calls Happy...
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...attributes are foreign keys CUSTOMER (Cus_id, cus_last, cus_first, staddr, zipcode) EMPLOYEE (Emp_id, emp_first, emp_last, staddr, zipcode) VIDEO (Isbn, title, vid_length, rate_id, genre_type, release_date) GENRE (Genre_type, genre_description) ACTOR (Act_id, First, Last) ACT_IN (Isbn, Act_id) COPY1 (Cid,Isbn, Copy_no, rent_type) RENT_DURATION (Rent_No, rent_type, no_days, rent_charge) RENT_QUALITY (Rent_type, type_description) RATING (Rate_id, rate_description) RENTS (rent_id,Cid, Cus_id,Emp_id, date_rented, Rent_No) PURCHASES (pid,Cid, Cus_id, emp_id, date_purchased, amt) ZIP (Zipcode, city, state) Relationships Customer(Cus_id) -> rents(Cus_id) Video(Isbn) -> Copy1(Isbn) copy1(Cid) -> rents(Cid) Employee(Emp_id) -> rents(Emp_id) Employee(Emp_id) -> purchases(Emp_id) Customer(Cus_id) -> purchases(Cus_id) copy1(Cid) -> purchases(Cid) Genre(Genre_type) -> Video(Genre_type) RENT_QUALITY(Rent_Type) -> RENT_DURATION(Rent_Type) RENT_QUALITY(Rent_Type) -> Copy1(Rent_Type) RENT_DURATION(Rent_No) -> RENTS(Rent_No) Actor(Act_id) -> Act_in(act_id) Video(ISBN) -> Act_in(ISBN) Zip(Zipcode) -> Employee(Zipcode) Zip(Zipcode) -> Customer(zipcode) Rating(rate_id) -> video(rate_id) How many movies has Jim Izick rented SELECT COUNT(*) FROM CUSTOMER, RENTS WHERE CUSTOMER.cus_id=RENTS.cus_id AND cus_last='Izick' AND cus_first='Jim'; Underlined attributes are the primary keys bolded attributes are foreign keys ...
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...); GO Use screenimages --Creates the Order table create table Orders ( OrderID INT not null, AgentID INT not null, OrderDate DATE not null, ShipDate DATE not null, constraint pk_orders primary key (OrderID), constraint fk_agent1 foreign key (AgentID) references Agent (AgentID), ); GO Use screenimages --Creates the Products table create table Products ( ProductID INT not null, Photo VARBINARY(max) null, Descript VARCHAR(max) not null, Price MONEY not null, constraint pk_Products primary key (ProductID) ); GO Use screenimages --Creates the Inventory table create table Inventory ( InventoryID INT not null, ProductID INT not null, InventoryQty CHAR(5) not null, ReorderPoint CHAR(5) not null, constraint pk_Inventory primary key (InventoryID), constraint fk_Products2 foreign key (ProductID) references Products (ProductID) ); GO Use screenimages --Creates the associate OrderLine table create table OrderLine ( OrderID INT not null IDENTITY, ProductID INT not null, Quantity CHAR(5) not null, constraint pk_OrderLine primary key (OrderID, ProductID), constraint fk_OrderID foreign key (OrderID) references Orders (OrderID), constraint fk_ProductID foreign key (ProductID) references Products (ProductID) ); GO Part 3A Insert Agent (AgentID, FirstName, LastName, Agency, OfficeLocation, Phone, Email) Values (1478, 'Tim', 'Waldron', 'Iowa Realty', 'Jordan Creek',...
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...The success of a 15th or 16th century monarch can often be broken down and assessed by their actions regarding foreign policy. A judgement has to be made by the interpretation of the word “effective” in context. Foreign policy is arguably the key to stability or the making of an unsuccessful king. This coupled with the amount of foreign enemies, unsuccessful battles, and level of profit accumulated in relation to the cost of battle among others are some of the factors that resulted in a kings reputation being formulated. Henry VII as a monarch has a reputation of rebuild and restructure in regards to foreign policy and kingship, but the extent to which foreign policy is the key to stability can be assessed. Known as the ‘auld alliance’, reputation with France had shaped the support among the population of monarchs for years upon years. Henry VII was seen to be in a legacy of debt to the French king after he has supported Henry Tudors claim to the throne. In previous years control of France had made the reputation of the king but this time it could be seen as the ultimate controlling factor. Immediately this was seen to act as a stabilising factor, this left the English king in a position of comfort knowing that a positive relationship with France has already been achieved and did not have to be forced. However, in 1482 Henry was seen to send troops to support Anne, the Duchess of Brittany against France. Although this action was not one of aggression, and certainly didn’t compromise...
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...9. OFFICIAL/GRATIS PASSPORT: (a). Official / Gratis :- Such passport shall be issued to the following categories of persons:i) Members of the National Assembly and Member of the Senate; their spouses, parents and dependent, un-married children upto 28* years of age. Wafaqi Mohtasib, Judges of the Supreme Court, High Courts and Shariat Court, Chief Election Commissioner, Auditor General of Pakistan, Chairman, FPSC, Chairman FST, Members Election Commission of Pakistan*, their spouses and dependent un-married children upto 28* years of age. *Included vide Interior Division’s letter No. 3/53/2011-Pass dated 15-11-2011. ii) iii) Provincial Ministers and Advisers to the Provincial Governments with the status of Provincial Minister / Speakers / Deputy Speakers of the Provincial Assemblies. Former elected Federal Ministers / Ministers of State and their spouses. Speaker’s of the Provincial Assemblies, their spouses and dependent un-married children upto 28* years of age. Retired Chairman Joint Chief of Staff Committee and all three Services Chiefs (four star Generals) including their spouses and dependent un-married children upto 28* years of age. Federal Secretaries and Officers in BPS-22, Additional Secretaries, Senior Joint Secretaries, Chief Secretaries of the Provinces, BPS-21 officers of APUG being eligible for posting as Additional Secretary in the Federal Government, officers of Armed Forces of equivalent ranks and their spouses. Dependent un-married children upto...
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...Employment Of Foreign Workers In Malaysia INDEX 1. Executive Summary 2. Introduction 3. Analysis 4. Challenges 5. Implications 6. Recommendations 7. Conclusion 8. References 1.0 Executive Summary The report investigates on the issue of employment of foreign workers in Malaysia. During the British colonial period in the early nineteenth century, Malaysia was a net receiver of foreign nationals who came to work in the plantations, mines, and construction sectors. Nowadays, rapid industrialization, urbanization, strong economic growth led to labour shortages in rural areas and plantation sectors due to rejection of locals to work in these industries. There are some changes and policy reforms since early 2000 regarding the employment of foreign workers, which includes: Amendments to the Employment Act and Equality in Treatment and Enforcement of Laws. There is also a proposel regarding Foreign Workers Act. The report analyses the advantages and disadvantages of employing foreign workers. Among the advantages are availability of low cost labour, willingness to work for long hours and availability of abundant foreign workforce. Nonetheless, there are also drawbacks to employing foreign workers including rapid expansion of population and increasing in level of unemployment of locals. The main issue is exploitation of foreign worker in Malaysia. Foreign workers are exploited by their employers in different ways, for instance, wage manipulation...
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