...Flash Tutorials Trademarks 1 Step RoboPDF, ActiveEdit, ActiveTest, Authorware, Blue Sky Software, Blue Sky, Breeze, Breezo, Captivate, Central, ColdFusion, Contribute, Database Explorer, Director, Dreamweaver, Fireworks, Flash, FlashCast, FlashHelp, Flash Lite, FlashPaper, Flash Video Encoder, Flex, Flex Builder, Fontographer, FreeHand, Generator, HomeSite, JRun, MacRecorder, Macromedia, MXML, RoboEngine, RoboHelp, RoboInfo, RoboPDF, Roundtrip, Roundtrip HTML, Shockwave, SoundEdit, Studio MX, UltraDev, and WebHelp are either registered trademarks or trademarks of Macromedia, Inc. and may be registered in the United States or in other jurisdictions including internationally. Other product names, logos, designs, titles, words, or phrases mentioned within this publication may be trademarks, service marks, or trade names of Macromedia, Inc. or other entities and may be registered in certain jurisdictions including internationally. Third-Party Information This guide contains links to third-party websites that are not under the control of Macromedia, and Macromedia is not responsible for the content on any linked site. If you access a third-party website mentioned in this guide, then you do so at your own risk. Macromedia provides these links only as a convenience, and the inclusion of the link does not imply that Macromedia endorses or accepts any responsibility for the content on those third-party sites. Speech compression and decompression technology licensed from Nellymoser...
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...1. Advisory 2757760: Vulnerability in Internet Explorer could allow remote code execution. This vulnerability has been investigated my Microsoft and a link to the appropriate update has been issued on the Advisory page. 2. Advisory 2755801: Vulnerabilities in Adobe Flash Player in IE 10. The software affected by this vulnerability are both 32/64-bit Windows 8 systems, and also Windows Server 2012. An update has been published that fixes this by updating the Adobe Flash libraries in IE 10 that are affected. It is also possible to temporarily remedy this by changing up the registry files with the text provided on the Advisory page. The Administrator may also disable Flash Player from running on IE 10 via group policy on Windows 8 and Server 2012. 3. Advisory 2736233: Microsoft has released new kill bits for ActiveX after multiple requests by Cisco concerning vulnerabilities in some of its services; Cisco Secure Desktop, Cisco Host scan, and Cisco Any Connect Secure Mobility Client are all services that are affected by ActiveX vulnerability. This affects most Windows XP/7 systems, along with Server 2003/2008 software. 4. Advisory 2661254: Update for Minimum Key Certificate Length. RSA keys being used in certificates that are less than 1024 bits in length are vulnerable to attackers duplicating the certificates, phishing, and man in the middle attacks. Examples of the services that are affected are encrypted emails and private PKI environments. It is suggested that this update is...
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...Arnold Memia Home Address: Flat 1 the Drive London Walthamstow E17 3DD Telephone: 07763307722 Date of Birth: 14/05/1998 Email: Arnold_m7@hotmail.com Personal profile: I am an enthusiastic individual who is seeking a placement position to enhance both social skills as well as my work skills. I enjoy being helpful and I am always prepared and ready to acquire to anyone’s needs and help them with any problems they may face within a working environment. I enjoy working in a team with other people as this allows me to get to know them individually. I am able to comply with the deadlines that are given to me and able to meet them within the time scale. I find it really easy to interact with people and talk to them, this allows me to be more confident when it comes to greeting customers and welcoming them in to the store. Additional skills: Software: Basic knowledge of Microsoft Excel, serif draw plus and adobe flash player. Language: can speak fluently in Albanian and can speak full English. Teamwork: I am able...
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...When creating a website the developer needs to keep in mind the user. Making sure that the users finds the website useful and user friendly. The website purpose is for Niya to increase sales and generate new clients. The site will need a shockwave flash format there is another component that it needs in order to play which internet explorer already has. Using shockwave flash will allow use on smaller devices because flash are small. Plug ins that will be needed for the website will be like adobe flash player. Adobe flash uses runtime which allows billions of people to browsers and OS version with effortless. It also improves the graphics and creates high performance on smaller screens. Adobe will ensure that it fits all devices and clear. The graphic will be Adobe Illustrator using bitmap, JPG and PNG file format. Bitmap are made of rows of tiny dots called pixels because they are so small they blend with the monitor. Bitmaps with increase in size the more you work with them. JPG is one of the most common one used to format or display photographs on the site. Since PNG is a newer version which will provide “254 levels of transparency (GIF supports only one). Allows more control over image brightness and allows more than 48 bits per pixel. (GIF supports 8 bits for 256 colors).Supports progressive rendering, as interlaced GIFs do. Compresses better than a GIF” ( webbuilderscafe).the contents will be pictures of the toys and brief background on Niya and her company. There will...
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...INTRODUCTION A sovereign wealth fund (SWF) is a state-owned investment fund investing in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. SWFs are invested globally. Central banks use their foreign-exchange reserves or revenues from commodity exports to fund these investments. The three main characteristics of SWFs are 1. To maximize long-term returns using foreign exchange reserves 2. To serve the short-term "currency stabilization" 3. Liquidity management SIGNIFICANCE AND IMPORTANCE OF SOVEREIGN FUNDS OBJECTIVES OF SWFS SWFs are created from budgetary surpluses where the governments have no international debt. In countries where such liquidity is not possible, such as the nations that depend on raw material exports, the main objective for creation of SWF is for controlling high volatility of resource prices, unpredictability of extraction, and exhaustibility of resources. STABILIZATION SWFS The SWFs that are created to reduce volatility of government revenues, to counter the boom-bust cycles' adverse effect on government spending and the national economy are called Stabilization SWFs. SAVINGS SWFS These SWFs are created to build up savings for future generations. Resource curse SWFs can help avoid resource curse in resource-rich countries. Governments may be able to spend the money immediately, but risk causing the economy to overheat, e.g., in Hugo...
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...CHAPTER 1 INTRODUCTION 1.1. Objectives Sovereign Wealth Funds (SWF) is the terms that often made headlines for their deals, their investments, their transparency and sometimes the lack of it. They hold the people’s money, hence the scrutiny from public eyes. They also have more aggressive risk appetite than the usual reserve manager of a country which uphold the liquidity, security, and profitability principals and that results in an even more detailed scrutiny to the SWF. The term SWF itself has first mentioned by Rozanov in 2005 when he wrote for Central Banking Journal1, but actually SWF have been around since before that. For example Government of Singapore Investment Corporation and Temasek Holdings, the two prominent SWF from Singapore have already been established in 1981 and 1974, respectively. SWF’s asset under management amount is also increasing overtime. Preqin estimated that the growth of asset is up from USD 3.07 trillion in December 2008 to USD 6.3 trillion in March 2015 as seen in Figure 1.1 Sovereign Wealth Fund Assets under Management2. Norway’s Government Pension Fund currently has the biggest asset among them which is amounting to USD 882 billion3. It is interesting to see whether the smaller counterparts from Asia also enjoys the rise in their asset as well. The objectives of this paper is to comprehend and appreciate the dynamics of smaller SWF from emerging and developing Asia (IMF definition)4. 1 Rozanov, Andrew, 2005. Who holds...
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...RQ AVSD GR WEF GR SDF SWF E GE WREQ WERGER AER AG GEGEQR EGGGG ERG E GQER ERG GEQR qwwde wer w etr ag a FQ WER FSD GT4 RQ AVSD GR WEF GR SDF SWF E GE WREQ WERGER AER AG GEGEQR EGGGG ERG E GQER ERG GEQR qwwde wer w etr ag a FQ WER FSD GT4 RQ AVSD GR WEF GR SDF SWF E GE WREQ WERGER AER AG GEGEQR EGGGG ERG E GQER ERG GEQR qwwde wer w etr ag a FQ WER FSD GT4 RQ AVSD GR WEF GR SDF SWF E GE WREQ WERGER AER AG GEGEQR EGGGG ERG E GQER ERG GEQR qwwde wer w etr ag a FQ WER FSD GT4 RQ AVSD GR WEF GR SDF SWF E GE WREQ WERGER AER AG GEGEQR EGGGG ERG E GQER ERG GEQR qwwde wer w etr ag a FQ WER FSD GT4 RQ AVSD GR WEF GR SDF SWF E GE WREQ WERGER AER AG GEGEQR EGGGG ERG E GQER ERG GEQR qwwde wer w etr ag a FQ WER FSD GT4 RQ AVSD GR WEF GR SDF SWF E GE WREQ WERGER AER AG GEGEQR EGGGG ERG E GQER ERG GEQR qwwde wer w etr ag a FQ WER FSD GT4 RQ AVSD GR WEF GR SDF SWF E GE WREQ WERGER AER AG GEGEQR EGGGG ERG E GQER ERG GEQR qwwde wer w etr ag a FQ WER FSD GT4 RQ AVSD GR WEF GR SDF SWF E GE WREQ WERGER AER AG GEGEQR EGGGG ERG E GQER ERG GEQR qwwde wer w etr ag a FQ WER FSD GT4 RQ AVSD GR WEF GR SDF SWF E GE WREQ WERGER AER AG GEGEQR EGGGG ERG E GQER ERG GEQR qwwde wer w etr ag a FQ WER FSD GT4 RQ AVSD GR WEF GR SDF SWF E GE WREQ WERGER AER AG GEGEQR EGGGG ERG E GQER ERG GEQR qwwde wer w etr ag a FQ WER FSD GT4 RQ AVSD GR WEF GR SDF SWF E GE WREQ WERGER AER AG GEGEQR EGGGG ERG E GQER ERG GEQR qwwde wer w etr ag a FQ WER FSD GT4 RQ AVSD GR WEF GR SDF SWF E GE WREQ WERGER AER...
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...What is a SWF? About Sovereign Wealth Funds What is a Sovereign Wealth Fund? A Sovereign Wealth Fund (SWF) is a state-owned investment fund composed of financial assets such as stocks, bonds, real estate, or other financial instruments funded by foreign exchange assets. These assets can include: balance of payments surpluses, official foreign currency operations, the proceeds of privatizations, fiscal surpluses, and/or receipts resulting from commodity exports. Sovereign Wealth Funds can be structured as a fund, pool, or corporation. The definition of sovereign wealth fund exclude, among other things, foreign currency reserve assets held by monetary authorities for the traditional balance of payments or monetary policy purposes, state-owned enterprises (SOEs) in the traditional sense, government-employee pension funds, or assets managed for the benefit of individuals. Some funds also invest indirectly in domestic state-owned enterprises. In addition, they tend to prefer returns over liquidity, thus they have a higher risk tolerance than traditional foreign exchange reserves. History The term sovereign wealth fund was first used in 2005 by Andrew Rozanov in an article entitled, 'Who holds the wealth of nations?' in Central Banking journal[1]. The previous edition of the journal described the shift from traditional reserve management to sovereign wealth management; subsequently the term gained widespread use as the spending power of global officialdom has rocketed upwards...
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...Angola’s mislaid billions Introduction and history Angola is one of the larger African countries located in the southwestern part of the continent. The capital city is Luanda, and official language is Portuguese. According to United States Department of State website, “Despite its extensive oil and mineral reserves and arable land suitable for large-scale production of numerous crops, Angola has some of the world's lowest social development indicators” (Angola. Country Specific Information, 2012, para. #1). Due to these massive oil reserves, it seems that Angola should flourish and become one of the most developed African countries. Sadly, most of this country’s citizens seem to be living in extreme poverty. One can only try to guess why this would be the case. After being a colony of Portugal, Angola has gone through some rough times. Armed conflict did help with gaining the independence but right after the conflict was over, and independence achieved, civil war has taken over and slowed down any potential successes. “Development was severely restricted by a 27-year civil war that broke out upon independence in 1975 and destroyed most of the country's infrastructure. Since the war ended in 2002, the economy grew at a double-digit annual rate until the global financial crisis undercut oil revenue” (Angola. Country Specific Information, 2012, para. #1). This country has had a large potential due to its oil reserves. Because Angola exports most of its oil, it could benefit...
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...“Setting up a Sovereign Wealth Fund: Some Policy and Operational Considerations”, Udaibir S. Das, Yinqiu Lu, Christian Mulder, and Amadou Sy, August 2009 Das, Lu, Mulder, Sy (2009) setting up a Sovereign Wealth Fund (SWF) and provides relevant recommendations for policy makers. At the outset, it says: “policymakers should optimally consider both their sovereign assets and liabilities together with their macroeconomic objectives, when setting up an SWF.” On “ What is a Sovereign Wealth Fund?” section of the paper, the authors provides the definition of SWF by stating that these Funds are created for macroeconomics purposes in order to “ to hold, manage, or administer financial assets to achieve financial objectives”. On the next section, “When to Set up an SWF?” the paper argues that there is no certain time to establish SWF by using “fiscal surpluses and accumulated foreign exchange reserves” and it is totally up to the choices of relevant countries. Nevertheless, it was highlighted in the paper that in practice actually countries establish SWF “in a more ad hoc basis”. In other words, the paper states that “Compared with a traditional investment approach, which assumes that investors perceive their assets as fungible, behavioral finance assumes that investors tend to group their assets in a number of non-fungible accounts, and make decisions differently depending on the purpose for setting up the account.” Later, under the section of “When are a Country’s Reserves...
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...Past exam questions: 1. Market Risk for multi-period horizons and portfolios An Australian bank has long positions of 1 million US dollars and 1 million Swiss Francs. The closing exchange rates yesterday were AU$1.5/US$ and AU$1/SWF. The historical average value of daily exchange rate return is zero for both AU$/US$ and AU$/SWF. The standard deviations of daily exchange rate return for AU$/US$ and AU$/SWF are 50 basis points and 100 basis points respectively. The historical correlation between the two exchange rate returns is 0.5. a) If the daily exchange rate returns for both AU$/US$ and AU$/SWF follow a normal distribution and independent across dates (i.e., the serial correlation in daily exchange rate returns is zero), what is 10-day VaR for the bank’s aggregate holdings of two currencies? b) Assume for this question that the daily exchange rate returns for AU$/SWF do not follow a normal distribution and not independent across dates either. Based on the historical data, there is typically 5% of chance that SWF will depreciate by more than 150 basis points relative to AU$ in 10 days, and there is also 5% of chance that SWF will appreciate by more than 100 basis points relative to AU$ in 10 days. What is 10-day VaR for the bank’s SWF position? 2. Foreign exchange risk a) OZ Bank issues a one-year Australian certificate of deposit to finance a US$1 million investment in one-year fixed rate U.S. bonds. The interest rate of AU$ CD is 5% per annum. and the yield...
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...Please help improve this article by expanding it. Further information might be found on the talk page. (October 2010) The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established after the 2009 G-20 London summit in April 2009 as a successor to the Financial Stability Forum. The Board includes all G-20 major economies, FSF members, Spain, and the European Commission. It is based in Basel, Switzerland.[1] Contents [hide] 1 Background 2 Overview 3 Notes 4 References 5 External links [edit]Background The Financial Stability Board emerged from the Financial Stability Forum (FSF), a group of finance ministries, central bankers, and international financial bodies. The FSF was founded in 1999 to promote international financial stability, after discussions among Finance Ministers and Central Bank Governors of the G7 countries, and a study which they commissioned.[2] The FSF facilitated discussion and co-operation on supervision and surveillance of financial institutions, transactions and events. FSF was managed by a small secretariat housed at the Bank for International Settlements in Basel, Switzerland.[3] The FSF membership included about a dozen nations who participate through their central banks, financial ministries and departments, and securities regulators, including: the United States, Japan, Germany, the United Kingdom, France, Italy, Canada, Australia, the Netherlands and...
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...State Capitalism and Globalization 1. Although state-owned enterprises (SOEs) are diminishing, they still comprise one third of China’s and Russia’s Gross Domestic Product (Wooldridge, 2012). According to The Economist, China, alone, has 121 SOEs over which the government has direct control (2011). When bank loans are granted, the favored SOEs are the recipients and government controls the reins by retaining a controlling stake of shares. Likewise, SOEs are given preferential interest rates and allowed access to land at prices that are below market value (The Economist, 2011). Government intervention affects the prospects for economic and business development in a negative way by encouraging inefficiency and biased decision-making that may not be in the long-run interests of the company. In China, favoritism is rampantly on display and the government picks the winner and losers (The Economist, 2011). Furthermore, while many free trade economies – like the United States – often encourage foreign investment, China only appears to do so. SOEs are often given preferential treatment while foreign investors are subject to over-regulation (The Economist, 2011). 2. The globalization of markets and of production has lowered the barriers to business development. These barriers stood in economic, political, and social sectors of the world market. This rise in free trade and has led to an increase in the private sector, but this is miniscule compared to the control and power of State...
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...Illicit Financial Flows From Developing Countries: 2001-2010 Dev Kar and Sarah Freitas December 2012 Illicit Financial Flows From Developing Countries: 2001-2010 Dev Kar and Sarah Freitas1 December 2012 Global Financial Integrity Wishes to Thank The Ford Foundation for Supporting this Project 1 Dev Kar, formerly a Senior Economist at the International Monetary Fund (IMF), is Lead Economist at Global Financial Integrity (GFI) and Sarah Freitas is an Economist at GFI. The authors would like to thank Simón Ramírez Amaya, an intern at GFI, for assistance with data research as well as Raymond Baker and other staff at GFI for helpful comments. Any errors that remain are the authors’ responsibility. We are pleased to present here our analysis of Illicit Financial Flows From Developing Countries: 2001-2010. In our previous annual reports we have utilized the World Bank Residual model adjusted for trade mispricing, presented in both gross non-normalized and in filtered normalized calculations. In this year’s report we are adding a second form of analysis, the Hot Money Narrow model adjusted for trade mispricing, again presented in non-normalized and normalized calculations. The results for 2010 are summarized as follows: World Bank Residual Plus Trade Mispricing, Non-Normalized World Bank Residual Plus Trade Mispricing, Normalized Hot Money Narrow Plus Trade Mispricing, Non-Normalized Hot Money Narrow Plus Trade Mispricing, Normalized US$ 1,138 billion US$ US$...
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...functions as a typical pension fund, where allocations of funds are across asset classes and regions. The portfolio would be rebalanced when specific asset classes deviated from a benchmark, hence restricting the percentage asset allocation of the portfolio. • The GPFB has only recently started an allocation of funds to real estate with the rest of the portfolio invested in fixed income and equity. The CPPIB, on the other hand, is more aggressive in its investments in illiquid assets, having gradually increased its allocation to infrastructure, private equities and real estate, which formed approximately 30% of the portfolio as of 2011. 2. Do you agree that the Norway Fund provides a good blueprint for other countries to establish a SWF? State your reasons. I agree: • The fund is well integrated with the Government budget. By financing the non-oil budget deficit of the government and clearly articulating a strategy of fund withdrawals corresponding...
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