...passport. Although Snowden had applied for political asylum to 20 countries, the US administration, specifically Vice President Joe Biden, had pressured the governments of these countries to refuse his petition for asylum. 3. On June 23, Snowden landed in Moscow's international airport. He remained in the transit zone for 39 days until being granted temporary asylum by the Russian government on August 1.Then he went to an undisclosed location kept secret for security reasons. HongKong In Hongkong, Snowden spoke very frankly about the US Government’s attempts to extradite him, so his intention is to ask the courts and people of Hongkong to decide his fate. As we can see in the pictures, On June 15, people in Hong Kong got together to support Edward Snowden. After Snowden had taken off, The HongKong government released a statement, saying that said the extradition request received from the U.S. “did not fully comply with the legal requirements under Hong Kong law.” so they had no legal reason to prevent Snowden from boarding his flight to Mosco. Russia On Snowden's arrival, the Russian president Putin said that was "a surprise" and "like an unwanted Christmas gift" to Moscow. Then he said that if Snowden wanted to be granted asylum in Russia, he would be required to "stop his work aimed at harming our American partners". US In the US, Snowden's actions precipitated an intense debate on...
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...Natives * The Encomienda System (New World) * Definition of terms: * Encomienda – land trust * Encomendero – land trustee * Repartimientas – Indians granted to the land trustee * It can be traced in American colonies (particularly the South & Central America) which were later turned as Spanish permanent settlements * “New Spain” * Spanish explorers conquered the New World (feudalism) * Modified type of feudalism – encomienda system * It was established on May, 1493 by the Crown in Castle * Crown – had the power to entrust/ remove the land trust to the encomendero * Scope of the encomienda system: land +inhabitants * Spanish authorities justified their dominion over the New World by stating that their main responsibility was to propagate Catholic faith * Law of Burgos * Tribute * They believe that they could bring civilization to the New World * Rampant exploitation and abuse * The estates were still in the possession of inhabitants: an encomendero had no political authority * The Crown reluctant expressed his desire to abolish the encomienda system * It was overruled because the Royal Crown of Spain was threatened of rebellion and anguish cries of the Spaniards in America (New World) * Causes of the degeneration of the encomienda system in America: * Drastic decline of indigenous population * Transition from mercantile economy to industrial economy * The Encomienda System (Philippines) * It was...
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...1GameStop brief profile of the firm The GameStop Company, an American video game and entertainment software retailer, ranked 262 on the Fortune 500. GameStop represent as GME on the New York Stock Exchange. In 2011, GameStop stock price is $24.70 ended January 27, 2012, a 23 percent growth compared to $20.05 ended January 28, 2011. Compared to many firms that restore its business difficultly from Financial Crisis, GameStop have significant growth for its overall operating. One of the major reasons that GameStop can quickly recovered from economic recession is its international business. Product GameStop Company major operations are selling new and used video game systems such as console, handheld video game devices, and mobile; software and accessories, PC entertainment software and related accessories. typical market for your product GameStop have its retailer store and online video game retailer. Detail how large the company is GameStop’s recorded $4847.4 million as company’s 2011 ending assets, and recorded $1807.2 million. Lower liability compared to its assets, lower risk to operating its business. Which can prove that GameStop have capability to doing business internationally. Data from GameStop 2011 annual report showed GameStop’s total revenue can be divided into 4 major parts. New video game software, which is $4,048.2 million, takes total 42.4 percent for its total revenue. New video game hardware took 16.9 percent. Used video game products took 27.4...
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...China Finance Center, HongKong and Shanghai With rapid development of Chinese Mainland, Shanghai, the pearl of the Orient become one of the most developed city in Mainland, aimed to be “four-Centers”, which are clearest themes of Shanghai’s 12th FYP(Five Years Plan), international financial, trade, shipping and economic center. Hong Kong, one of mature international finance center in the world, is always a module for Shanghai, and it is a hot topic to compare these two cities. Years ago, the Chinese government announced a national strategy about Shanghai. According to this strategy, Shanghai is planed to be built into an international financial center completing with mature financial centers and full of a wide range of globally competitive financial products and service by next decades. As an international financial center, Shanghai plans to become the world’s center of trading, pricing and clearing of Chinese yuan assets. The initiative will facilitate FIE(Foreign-invested enterprise) growing use of funds, like offshore RMB and the issuance of RMB-denominated bonds. Other initiatives include finance leases, small loan services, local innovation products and financial guarantees for FIEs(Foreign-invested enterprise). As a mature international finance center, Hong Kong and Shanghai have gradually been as competitor for the finance center in Greater China region, in Asia, even in the world. With the rapid rising position of Shanghai together with China mainland, more...
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...Unethical Corporate Governance (HSBC Money Laundering Case: “Too Big to Fail” does not mean “Too Big to Jail”) About HSBC HSBC Holdings plc is a British multinational banking and financial services company headquartered in London, United Kingdom. It is one of the world’s largest banking and financial services organizations. In 1865, the first branches of the bank were first opened in Hong Kong and Shanghai. HSBC is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited. In 1991, it was founded in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company. The company refers to both the United Kingdom and Hong Kong as its "home markets". HSBC has around 7,200 offices in 85 countries and territories across Africa, Asia, Europe, North America and South America, and around 89 million customers. As of 31 December 2013, it had total assets of $2.671 trillion, of which roughly half were in Europe, the Middle East and Africa, and a quarter in each of Asia-Pacific and the Americas. As of 2012, it was the world's largest bank in terms of assets and sixth-largest public company, according to a composite measure by Forbes magazine (Witty Traders, 2014). HSBC consists of four business groups: * Commercial Banking; * Global Banking and Markets (investment banking); * Retail Banking and Wealth Management; * Global Private Banking. HSBC has a dual primary listing on the Hong Kong Stock Exchange and London...
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...INTRODUCTION:- COMPANY OVERVIEW About HSBC BANK Headquartered in London, HSBC is one of the largest banking and financial services organizations in the world. HSBC's international network comprises around 9,500 offices in 85 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by around 200,000 shareholders in some 100 countries and territories. The shares are traded on the New York Stock Exchange in the form of American Depositary Receipts. Through an international network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal financial services; commercial banking; corporate, investment banking and markets; private banking; and other activities. History The HSBC Group has an international pedigree which is unique. Many of its principal companies opened for business over a century ago and they have a history which is rich in variety and achievement. The HSBC Group is named after its founding member, The Hong Kong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between China and Europe. After the British established Hong Kong as a colony in the aftermath of the First Opium War, local merchants felt the need for a bank to finance the growing trade between...
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...each question below. 2. Cite/theories/research/examples/to substantiates your discussion/explanation. 3. Illustrate/draw/design a matrix if necessary. A. The Philippine educational system is currently undergoing curricular changes through the implementation of the K - 12 curriculums. In relation to this, make a thorough discussion about the education reform by answering the following question: 1. Discuss different perspective surrounding the implementation of the said curriculum including the Washington and Bologna accords. The first and foremost perspective that surrounds the implementation of the K to 12 programs is that to provide every Filipino child with education he/she needs to...
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...An Overview of the Malaysian Banking Sector FINA0501 ASIAN FINANCIAL INSTITUTIONS TERM PAPER LEE JUNHONG, JEREMY 2010540826 I. Introduction Malaysia has been an important player in the Asian economy since the early days of independence, and even before that, as a British protectorate. It is currently the third largest economy in Southeast Asia, and is the 28th largest economy in the world in terms of purchasing power parity according to the World Bank. Malaysia has also successfully diversified its role by focusing her economy on both the traditional sphere of primary agricultural produce as well as being a hub for light manufacturing in consumer durables and electronics. Strong economic planning and farsighted vision by both the government and central bank has been instrumental in maintaining a strong growth rate of her economy; her combined year on year growth since independence in 1957 has averaged 6.6%, which is no doubt a stellar record and one of the highest in Asia. The financial institutions and their functions have been instrumental in this success, and this paper will strive to highlight the strengths and weaknesses, as well as a general overview of the Malaysian banking sector. I. Historical background The earliest beginnings of the banking sector in Malaysia dates back to the early 19th Century under British influence and the expatriate (mainly British) merchant communities. The Straits Settlements comprising of Singapore, Malacca and Penang were administered...
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...them. ▪ Creating an environment that sustains and encourages high performance; motivating the teams in optimising contribution levels providing the requisite support for enabling them achieve targets successfully. CAREER FEATURES ORGANIZATION Pioneer Propertyzone India Services Pvt. Ltd Tenure Since June 2012 DESIGNATION Assistant Manager-Human Resources ⇨ Payroll Operation o End to end Payroll operation o Insure proper inputs such as Incentive, DOJ for new joinees etc in to Payroll system o Calculation of Income Tax and other statutory deduction o Preparation as well as payments of E.S.I.C., PF and PT, Income Tax Challans, MLWF etc o Prepare Bank Letters and ensure salary get credited to the employees account o Handled escalations regarding payroll ⇨ Attendance and Leave Management o Attendance and time administration o Muster checking of all branches o Monitor Attendance and Leave Management Systems o Leave management and administration of all...
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...momentum and the government was building the infrastructure that allowed information sources to be controlled. Google had to extensively depend upon the translation systems to make a success of Google in China but the hostile environment in 2005 made Google think otherwise .It is pertinent to state that all internet operations in China are controlled by state through some form of regulation .The following represents the presence of some MNC’s in China. Source: http://www.globalbydesign.com/wp-content/uploads/blog/china_search_cnnic.jpg Issues: I feel that Eric Schimdt Executive chairman of Google and Larry Page CEO of Google should seriously consider leaving china due to the various blockades that the government has put up for internet users .The way the Chinese government had interfered with the Gmail email system. This has been considered as a very important decision making process for Google to stay back in china or withdraw its operations in China. The loss of opportunity for Google in China would be huge considering the number of internet users and hence Google should stay back in china and tackle the Chinese dragon the way it deserves to be. The Chinese government had tampered with the Gmail email system and complaints from many Chinese customers and advertisers on the way the Gmail system was working made Google go after the Chinese government tooth and nail to protest against invasion of...
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...and potentially enormous market size, the consensus of international investors is that China is currently on of the most promising country’s in the world for foreign investment. Nevertheless, international investors have also pointed out that the current foreign investment regime in the Peoples Republic of China is far from being perfect. Despite its determination to pursue a market economy and comply with international practices, China remains a socialist state with planned economy influence and its government still emphasizes stability and control above all else. Pioneering foreign investors who have been operating in China during the past few decades have long been used to a highly non-transparent and especially in China a bureaucratic system that requires foreign investors to follow local laws and practices and navigate around numerous restrictions that only apply to foreigners. Complex approval processes, layers of government bureaucracy, high political pressure, together with inconsistent interpretation and enforcement of laws are phenomena that have long annoyed foreign investors in China. In 2001 China became a full member of the World Trade Organization. One of the first immediate effects of China’s entry was that, as a member of the World Trade Organization, China was obliged to open its domestic market further to foreign investors. Since the joining, China has been revising large numbers of new laws and regulations, including those especially effecting foreign investors...
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...to caste, religion, gender or location. However, it has been a central issue in developing countries even long before the recent spate of corporate scandals. The various corporate scandals in India include: Ketan Parekh scam, Harshad Mehta scam, CRB scam, Satyam scam etc. Security scams and financial scandals have lead to the manipulation of large amount of money, bloating stock markets and sensex. Even the financial markets having regulatory authority and empowered legal sections have failed in providing good corporate governance to some extent. But corporate governance and economic development are interrelated. Poor corporate governance hinders the development of economy while good corporate governance builds the confidence of outsiders to use financial accounting reports and statements within their business or for financial specialties, removes mistrust between various stakeholders and also reduces the risk of nationwide financial crisis. Effective corporate governance promotes the development of financial systems and capital market which in turn...
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...Privatization of Telecoms in Asia John Ure and Araya Vivorakij* Privatization viewed as a panacea for the most pressing problems besetting the modernization and development of telecommunications has become, in recent years, a widely accepted part of orthodox thinking. Wellenius, Stern, Nulty and Stern (1989) illustrate the point. ‘How should privatization be defined?’ asks the International Finance Corporation (IFC, 1995). ‘A generous stance would admit any transfer of ownership or control from public to private sector. A more exacting definition would require that the transfer be enough to give the private operators substantive independent power.’ 1 Hence, by privatization is usually meant the transfer of state-owned assets to private sector ownership, management and control typified by the sale of part or all of the shares of a state owned (and operated) telecommunications enterprise (SOTE). We shall argue that the ‘more exacting definition’ is exactly appropriate for the experience of Western economies from which it originates - see below - while it is too narrow, too precise, insufficiently ‘generous’ to capture the less clearly defined lines of demarcation between public and private capital in the context of Asian telecommunications. We shall argue that this is because the delineation between state (political society) and civil society is less well developed in Asia, certainly less well articulated in law, and unevenly developed even within single large Asian countries...
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...Running head: International Financial Markets International Financial Markets Unit 1 Individual Project Michelle McCollough June 8, 2007 American InterContinental University Abstract The below paper will discuss starting an operation in a foreign country. I will compare and contrast the United Kingdom and Hong Kong. I will also explain which country would be best to begin a business in. International Financial Markets Introduction Acme is planning on having a greenfield production facility overseas. The two foreign countries that I have decided to compare for starting business in is the United Kingdom, which is part of the European Union and Hong Kong. Hong Kong is not part of the European Union. I will first analyze the UK and then Hong Kong. Analysis of the United Kingdom (UK): The United Kingdom of Great Britain and Northern Irelane is a state that consists of the nations of England, Scotland, Wales, and Northern Ireland. This is also under the UK sovereignty and is not apart of the UK itself, however are the “Crown dependencies of the Channel Island and the Isle of Man.” The said dependencies seek their own policies over taxes, employment, education, and health. They are subjected to UK control on matters such as defense (Doing Business in the UK, 2005). The UK has an island of 242,500km2. The UK’s population in 2002 was 59.2 million and in 2006 the population was 60.6 million. The languages...
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...Chapter 1: Introduction to HSBC Group 1.0 HSBC Mission Statement: “We aim to satisfy our customers with high quality service that reflects our global image as the premier international bank” Objectives of HSBC: HSBC’s objectives are to provide innovative products supported by quality delivery of systems and excellence customer services, to train and motivate staffs and to exercise social responsibility. By combining regional strengths with group network HSBC’s aim is to be the one of the leading banks in its principle markets. HSBC’s goal is to achieve sustained earnings growth and to continue to enhance shareholders value. 1.1 An Overview of HSBC Group The HSBC Group is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 in Hong Kong and Shanghai to finance the growing trade between China and Europe. Thomas Sutherland, a Hong Kong Superintendent of the Peninsular and Oriental Steam Navigation Company helped to establish this bank in March 1865. Throughout the late nineteenth and the early twentieth centuries, the bank established a network of agencies and branches based mainly in China and South East Asia but also with representation in the Indian sub-continent, Japan, Europe and North America. The post-war political and economic changes in the world forced the bank to analyze its strategy for continued growth in the 1950s. The bank diversified both its business and its...
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