History Of Vietnam And Its Culture - 895 Words

DOING BUSINESS IN VIETNAM Prepared for Business Communications Oklahoma City Community College Oklahoma City, Oklahoma Prepared by†¨Loan Le May 15, 2015 INTRODUCTION: ABOUT VIETNAM AND ITS CULTURE As AB Accounting Services is looking to expand our offices to foreign markets and governments such as Vietnam, I compiled a report to help our executives’ awareness on the social and business etiquette that should be practiced and known to ensure we can grow our company successfully abroad. I will also cover the economy to help our executives that will be visiting Vietnam a good amount of general knowledge. We will cover the following areas: What are the social customs of Vietnam? Examples will include the proper introductions and greetings, body language, and gestures of approval or disapproval. What is the family life and structure? Examples will include traditional family values, and gender roles. What is the economic structure? What are the main sources of income? Examples will include local businesses, growth potential, and average income. BACKGROUND: OVERVIEW OF VIETNAM To anyone that is not familiar with Vietnam, it is a country located in Southeast Asia. The country is long and narrow, and looking at a map you will notice that it is shaped like the letter â€Å"S†. Vietnam is a neighboring country to Laos and Cambodia on the west. There is a population of about 75 million people. There is a very dominant Vietnamese population in theShow MoreRelatedBook Review of Backfire: a History of How American Culture Led Us Into Vietnam and Made Us Fight the Way We Did764 Words   |  4 PagesBackfire: A History of How American Culture Led Us into Vietnam and Made Us Fight the Way We Did, a book by Loren Baritz, describes the myths America takes into wars, the decisions that made the Vietnam War and the bureaucracy at war. Loren Baritz writes this book about the time period o f 1945 to about 1975, which is post World War II to post Vietnam War. Loren Baritz describes how American culture influenced the way the American soldiers fought in Vietnam and how American culture influenced theRead MoreEssay about Conflict Theory in Vietnam878 Words   |  4 PagesThe history of Vietnam is one of great struggle and conflict. For centuries the vietnamese people have had no choice but to change their society by force in order to gain their own freedom and independence. Pivitol events in Vietnamese history such as the Battle of Bach Dang in 939 and the Battle of Dien Bien Phu in 1954 are examples of how the conflict theory brought change to Vietnamese society and culture. For centuries Vietnam had been under Chinese rule. The Vietnamese people were an oppressedRead MoreThe Vietnam War Of Vietnam859 Words   |  4 Pagesmost important issues that happened to everyone in the past called the Vietnam War. The Vietnam War is a war that between the Southern and Northern zones of Vietnam. In the early 1960’s, the United States was very worried about the situation in the South Vietnam. Therefore, the president Lyndon B. Johnson were starting to draft so many young people in the country to combat issues in the war with Vietnam. However, the Vietnam War were proved to be a common topic were to fight against the war, combatRead MoreDifferent Aspects Of The Vietnamese Culture Essay1479 Words   |  6 Pages Vietnam The Vietnamese culture is one of the oldest among the countries in Southeast Asia. Primarily, the Bronze Age Dong Son Culture is considered imperative among the Vietnamese. The 1000 years of Chinese rule, however, has eroded some of the important Vietnamese traditions, especially governance and politics. Furthermore, the nation has a rich history, beneficial climatic conditions, and notable physical features. Although modernization has changed the different aspects of the VietnameseRead MoreThe Vietnamese Culture Essay1417 Words   |  6 PagesThe Vietnamese culture is one of the oldest among the countries in Southeast Asia. Primarily, the Bronze Age Dong Son Culture is considered imperative among the Vietnamese. The 1000 years of Chinese rule, however, has eroded some of the important Vietnam’s traditions, especially governance and politics. Furthermore, the nation has a rich history, beneficial climatic conditions, and notable physical features. Although modernization has changed the different aspects of the Vietnamese, various practicesRead MoreTaking a Closer Look at Vietnamese Culture Essay1145 Words   |  5 PagesThe Vietnamese culture is one that is complex, from the years of war until today where the country, its culture and economy is booming. Vietnam has had its ups and it downs, but the country’s ability to recover and rebuild is important and has played a significant part with where they stand today. Let’s get into the complex meaning of culture and then explore Vietnam and its culture. If you search the word culture, there are various meanings that will arise. Culture is the total of the inheritedRead MoreHistory of Vietnam1301 Words   |  6 PagesAs a citizen of Vietnam, I know that some past events shaped our country. Vietnam has a long history with China and France. It is found that there are four countries play very important parts in our history. There are China, France, Japan and the United States respectively. In this essay, the impact on the past events, which shaped the today Vietnam and interactions between Vietnam and the countries mentioned above will be discussed. The relationship between my country, Vietnam and China changedRead More How Can They Succeed?1034 Words   |  5 Pagesis behind him.† In the Vietnam War, many official soldiers and civilians took part in the combat. It started from December 1956 to 1975, nearly 20 years, in Vietnam. The Vietnam War was a war between North Vietnam and government of South Vietnam that United States participated and supported. It was a highlight in Vietnamese history and United States history also which was recorded, commented, discussed, debated in many books, journals and articles. In the South of Vietnam, there was a political organizationRead MoreBook Report : Vietnam 982 Words   |  4 PagesArrowood, Janet. Vietnam . Edison, NJ: Hunter Publishing, 2009. eBook Academic Collection (EBSCOhost). Web. 1 Oct. 2015. The author is a travel expert in Southeast Asia. Her book â€Å"Vietnam† is about the useful experiences for every tourists when they plan to visit Vietnam. Janet focus on Ho Chi Minh City, Hanoi, Nha Trang, and few central cities. The book has 2 episodes and included 30 chapters. It gives readers a background knowledge of culture, history, and local lifestyles. Each chapters takesRead MoreThe History Of Social Work In Vietnam. Each Country Has1625 Words   |  7 PagesThe History of Social Work in Vietnam Each country has a unique history for the development of social work. While social work was first started in Amsterdam and later introduced in the United States in the late 1800’s, other countries are starting to develop social work practice more recently (Zastrow, 2010). At the completion of multiple decades of war, Vietnam could start implementing social work practice. It is important for foreigners who plan to work in Vietnam to be aware of the history of

Human Trafficking Is Considered Modern Day Slavery

Human trafficking is defined as any type of work which people are forced to do against their will under the threat of some form of punishment and it is an affront to the most basic of human freedoms. In the Trafficking protocol (†¦.) human trafficking is defined as â€Å" the recruitment, transport, transfer, harboring or receipt of a person by such means as threats or use of force or other forms of coercion, of abduction, of fraud or deception for the purpose of exploitation†. Almost all slavery practices contain some element of forced labor. Human trafficking is considered modern day slavery, with the main difference that the latest was legal. Sex trafficking and illegal organ removal are also part of this industry largely known as Human Trafficking. It is a business that generates, according to the UN 2005 statistics, $31.6 billion, being considered the second largest criminal industry after drug trafficking. Every year, thousands of men, women and children fall into the hands of traffickers, whether as a country of origin, transit or destination for victims. (†¦Ã¢â‚¬ ¦) Human trafficking is happening everywhere with no discrimination to sex, color or social background. It is mostly found in labor intensive and under-regulated industries as agriculture and fishing, domestic work, construction, manufacturing and prostitution. Human trafficking is a largely widespread criminal industry that affects all countries of the world, with its largest profits coming from Asia and the Pacific.Show MoreRelatedHow Slavery Has Changed Today s Modern Society1324 Words   |  6 Pagesdo you define slavery in today’s modern society? The word slavery sparks up heated conversations. The idea that all humans were born with their own rights, no matter what race or class they were in, was not prevalent during the early developmental stages of America. There has always been slaves throughout the history of man, dating all the way back to the 1600†™s until today’s day in age when it is no longer legal but still seems to prevail. There are still cases in which slavery still exist butRead MoreSlavery in the Past vs. Human Trafficking in the Modern World909 Words   |  4 PagesSlavery What are the differences and similarities between slavery in the past and human trafficking in the modern world? Over the last several years, the issue of human trafficking has been compared with the slave trade. This is because both are focused on taking someone against their will and forcing them to engage in demeaning activities. Yet, the practices of modern traffickers are different from slave traders. To fully understand the similarities and disparities requires contrasting them withRead MoreSlavery : A African American Slave1518 Words   |  7 Pageshardships during his life just like any other slave. We look at slavery as a whole picture most of the time and don’t give very much thought to the political, economic, and racial factors that influence slavery, even in modern time. Of course, we know that slavery in the 1800’s was extremely racial in that only blacks were enslaved. However, looking at the statistics as we talk about slavery, it has become widely apparent to me that slavery is largely associated with specific races as well as economicRead MoreHuman rafficking a modern day slaveryT1673 Words   |  7 PagesProfessor Ngezem Human Trafficking: A Modern Day Slavery Slavery may have been abolished more than 100 years ago, but it still exists all around the world. Slavery defined is the subjection of a person to another person; being forced into work. Through the years, countless of battles have been fought and many lives lost to eliminate slavery, yet it still exists in the form of human trafficking. Human trafficking is the trade of humans, most commonly for the purpose of sexual slavery, forced laborRead MoreThe Human Of Human Trafficking Essay1235 Words   |  5 PagesAlthough slavery was abolished in 1865, the practice of it is still very alive today. Human trafficking, a form of modern slavery, is the buying and selling of people, whether it s for forced labor or commercial sex. Every year, thousands of adults and children, especially girls, are forced into the endless trafficking ring. â€Å"The International Labour Organization estimates that there are 20.9 million victims of human trafficking globally† (â€Å"The Facts†). The human trafficking industry is a worldwideRead MoreHuman Trafficking And The Modern Day Slavery Essay1006 Words   |  5 Pagesfield of criminal justice, and is known as the modern day slavery. This paper will also discuss the globalization in human trafficking. The study examines the impact of economic globalization on the human trafficking inflows around the world. This paper will begin by providing the definition of what human trafficking and globalization is, and how it works within the context of law enforcement. The history of human trafficking and how human trafficking is effecting societies across the world. ThisRead MoreHuman Tracfficking as a Global Health Issue Essay1061 Words   |  5 PagesAlthough slavery, as we known, may have been abolished throughout most of the world, a different form of slavery is lurking in the shadows. There is an estimated 27 million people currently in modern day slavery around the world. There are currently more people in slavery today than in any given time in history. (Free the Slaves, 2013) These are men, women, and children living under horrid conditions, stripped of all human rights. Included in that number are one million children that are exploitedRead MoreHuman Trafficking Is Not A Choice1132 Words   |  5 Pagesiii. There are more people involved in slavery today than at the height of the Tr ansatlantic Slave Trade during the 16th, 17th, and 18th centuries. c. Crime against humanity – stripped of their individual freedoms and identities d. Human beings are considered a commodity, and human trafficking is the business. e. Treatment of slaves - no less brutal or degrading today; These individuals are being exploited with the sole intent of being sold to increase one’s economic status; used and reused, abusedRead MoreSexual Slavery : The Purpose Of Sexual Exploitation998 Words   |  4 PagesSexual Slavery in America Sex Slavery defined- Sexual slavery is slavery for the purpose of sexual exploitation. Sexual slavery may involve single-owner sexual slavery; ritual slavery, sometimes associated with certain religious practices, such as ritual servitude in Ghana, Togo and Benin. †¢ Concubinage was a traditional form of sexual slavery in many cultures, in which women spent their lives in sexual servitude. In some cultures, concubines and their children had distinct rights and legitimateRead MoreThe Slavery Of The United States1603 Words   |  7 PagesIntroduction The history of enslaving humans for the benefit of labor, sex, and financial gain runs deep and parallel to the existence of civilization. While a small portion of the history of slavery reflects a more humane and less brutal treatment of those in servitude, such as the Babylonian slaves of 18th century BC who were permitted to own land; contrastingly, most slavery practices historically have been established in a foundation of violence and control, such as the slaves of ancient Greece

Should Renewable Energy Sources Replace Fossil Fuels Essay

Should Renewable Energy Sources Replace Fossil Fuels? Polar bears are the most known animals for the impacts of climate change on species. Global warming has been most prominent in the Arctic, and this trend is expected to continue. Their dependence on sea ice makes them highly vulnerable to a changing climate. Polar bears greatly rely on the sea ice environment for traveling, hunting, mating, resting, and in some areas, maternal dens (WWF). Specifically, they depend heavily on sea ice-dependent prey such as seals. Additionally, their long generation time and low reproductive rate may limit their ability to adapt to changes in the environment. Every time people breathe or burn something, oxygen in the air is converted to carbon dioxide. The carbon dioxide is used by plants to breathe and is converted back to oxygen, creating a cycle. If there is an increase in oxygen burning, for example, burning a lot of coal or oil to generate electricity or run cars, and cut down trees, the amount of carbon dioxide in the air is increased. This makes the air thicker and warms up the earth. The amount of warming is only a few degrees but it is enough to disturb the fragile balance of nature, which in turn will melt the polar ice, raise sea levels, cause violent hurricanes and endanger species such as polar bears. The polar bears are just one example of endangered animals because of the high demand of human need for energy which is acquired by burning fossil fuels. History and BackgroundShow MoreRelatedU.s. Should Replace Fossil Fuel With Renewable Energy994 Words   |  4 PagesGomez Professor Melissa Tran English 061 26754 14 November 2016 Renewable Energy The U.S. should replace fossil fuel with renewable energy. There are many reasons that the U.S. can use renewable energy to improve the economy. First of all, renewable energy can have a more stable price. Unlike fossil fuel, renewable energy is a continual source of energy that will not be as demanded, and will not cause inflation. Next, using renewable energy is a key to having a clean and green environment. It will notRead More Renewable Energy Essays1296 Words   |  6 PagesThe most of global energy production produces from fossil fuel such as coal, oil and natural gas. The vast fossil fuels generate energy which use for many purposes for instant residential, transportation and industrial sectors. While the rate consumption of fossil fuel higher than their formation leads to oil price crisis. Another concern of fossil fuel combustion is the impact on the environment. Global warming is a significant problem which results in increasing concentrations of greenhouse gasRead MoreRe newable Sources Of Energy Effectively Replace Fossil Fuels Essay1614 Words   |  7 PagesAlternative energy Can renewable sources of energy effectively replace fossil fuels? Can renewable sourves of energy effecticely replace fossil fuels? Is the question of the century.the answer to this question could profouldly change the world, it could put us In a new era a one for the better. But due to the largest oil and gas companies exxon mobil, royal dutch shell, bp, Sinopec and bureaucracy the steps are not being taken to insure our future. The government is corrupted, State officialsRead MoreSaving the Planet, One Panel and Turbine at a Time Essay1102 Words   |  5 PagesFossil fuels are starting to be a problem and are slowly killing the Earth. We have other sources which we can use to solve our problems. â€Å"Wind and sunshine are clean, emitting neither the pollutants that cause smog nor the carbon dioxide that contributes to climate change†(Ball n.p.). Renewable energy should replace fossil fuels, because they are cleaner, they have been already working, and they are helping Africa. Renewable energy should replace fossil fuels because they are cleaner. Fossil fuelsRead MoreRenewable Energy As A Means Of Reducing The Use Of Fossil Fuels1412 Words   |  6 Pagesdevelopments in renewable energy as a means of reducing the use of fossil fuels OUTLINE Thesis statement: benefits of renewable energy decreaseing the consumption of fossil fuels outweighs its disadvantages. Topic sentences: 1. First of all, renewable energy is more governable than nuclear power. 2. Furthermore, renewable energy is benefit to human in two ways, in particular environmentally friendly, and reducing the consumption of fossil fuels. 3. To some extent, developments in renewable energy need toRead MoreAlternative Sources Of Alternative Energy Sources1123 Words   |  5 PagesRough Draft: Alternative Energy Sources Imagine a world where sea levels have risen, a world where extreme weather happens more often and with more intensity, and a world that has very few species of animals left due to mass extinctions. (Environmental Protection Agency) But that future is still avoidable. The answer is renewable energy sources. Alternative energy sources are sources of energy that does not use fossil fuels, and generally are clean and renewable. (Jessa) Some examples include solarRead MoreRenewable Energy : A Path For A Cleaner And More Efficient America1482 Words   |  6 PagesRenewable Energy: A Path To A Cleaner and More Efficient America The U.S. must create new ways of replacing fossil fuels with renewable energy sources. The benefits of switching over to these sources are endless and so are the life span of these energy sources. Renewable resources have been around since Earth has been created and will continue to be until life on this planet ceases to exist. The clear benefits of adapting to renewable sources of energy are very promising and can continue on to impactRead MoreViable Alternative Energy For Replace Fossil Fuels1724 Words   |  7 Pages Viable Alternative Energy to Replace Fossil Fuels Nauman Syed Zia University of Houston Nearly all of the United States production of energy comes from non-renewable sources, also known as fossil fuels. However, the problem with using fossil fuels to satisfy the United States ever-growing demand for power is that they are a limited resource and their production and usage cause a myriad of harmful environmental effects. There are other sources of energy available that do notRead MoreThe Next Generation of Energy Essay1530 Words   |  7 PagesEnergy resource is the basic material of human activity. In a sense, human and social development is inseparable from the emergence of high-quality energy resources and advanced technologies. Energy resource are the source which can produce all kinds of energy such as heat, electricity, light and mechanical energy, etc. In nowadays, energy resource and the environment, are the major world issues that mankind should concern, since everything we use are made of or involved in consumption of naturalRead MoreAlternative Energy Sourc es Essay1652 Words   |  7 Pages people have utilized fossil fuels to power their homes, cars, and businesses. Unfortunately, our stores of fossil fuels are running low, and they have been demonstrated to increase the temperature in the atmosphere and accelerate global warming. As gas prices steadily rise, people need a newer, cleaner source of energy. The alternatives are numerous and would be beneficial to the well being of the whole world. The human race must replace its fossil fuel use with renewable resources in order to prosper

Music in Generations Essay - 1219 Words

All music has changed tremendously throughout the years. Each generation has several specific songs that defines that generation. Every song has different lyrics that describe the emotions that the artists are feeling. The songs connect to each individual in many different ways. Lyrics to a song is what makes music wonderful. Each song touches someone through ways like teaching a life lesson or touching your heart. Every generation has music that impacts the world by motivating people to do certain things or defines a person’s personality. Each generation has music that defines the generation. When music is created, it integrates the cultural and emotional situations that occur in everyday life. People create dances to the†¦show more content†¦This generation has obtained a tremendous amount of accessible information through technology. Technology has progressed during this generation which has corrupted the minds of teens everywhere. Since technology has become a huge factor in generation y’s lives, the technology for music has transformed as well. Just in generation y’s period of time, the way to obtain music advanced from cassettes to downloading or pirating music. When someone wanted to purchase a song, they would have to buy the whole cassette or cd. In reality, they spent way too much just to listen to that one or two songs. Technology has created a way that people can buy or steal songs. Without technology generation y would be lost, technology helps music define a generation. Generations before generation y think that television, music videos, and music in general has affected the kids in generation y. Trends and habits are formed by listening or watching. Music has wonderful and meaningful effects on different people depending on how the music is retained. Music videos affect generations differently because each generation has a different outlook and opinion on the lyrics. Each teen or adult reacts t o music videos differently. Most songs and music videos incorporate love along with heart breaks, life scenarios, money and the different styles of life. Our generation’s music is considered to be one of the best generations ofShow MoreRelatedThe Music of Generation X986 Words   |  4 PagesThe Music of Generation X Since the beginning of time the human beings have adored the soothing sounds of music. Music has affected the way people have behaved and dressed throughout different periods of time. Different groups have been formed based upon their preference in music. Take for an example in the music of my generation, Generation X, there are several different groups oriented by music. In Generation X punks, gangs, alternative people, ravers, hippies, and pop rockers have allRead More The Music Of Generation X Essay970 Words   |  4 Pages The Music of Generation X nbsp;nbsp;nbsp;nbsp;nbsp;Since the beginning of time the human beings have adored the soothing sounds of music. Music has affected the way people have behaved and dressed throughout different periods of time. Different groups have been formed based upon their preference in music. Take for an example in the music of my generation, Generation X, there are several different groups oriented by music. In Generation X punks, gangs, alternative people, ravers, hippies,Read MoreThe Music Of Today s Generation1257 Words   |  6 Pages Although the music of today’s generation has great artists and music, the music in earlier generations such as Styx is different and better than the music of today. Their music appears to have more meaning in the lyrics. The lyrics sing about people being in love, losing love, the meaning of life, and life experiences, instead of vulgar language, drugs, and violence, like music today. Several of the songs tell a story that fills your soul with warmth. I could hear the sorrow, happiness, and theRead MoreMusic Vs Modern Music : A Lesson From The Past Generation2065 Words   |  9 PagesOctober 3, 2017 1975s music VS Modern music A lesson from the past generation. †¢ Recent days, I have heard some interesting arguments about Vietnamese music in the past and music that popular these days. Originating from the comments of people from the past generations and the new generation on Face book. In their opinions, some of them consider that popular music these days have lowered the value of the melody and did not appreciate the aesthetic taste of music anymore. Some other, mostlyRead MoreAnalysis Of Greenwich Village : Music That Defined A Generation2282 Words   |  10 PagesProtest music of the 1960s was a counterculture because through the form of music they would protest against the norm, war, government, civil rights, etc. Music was the main force for the younger generation to rebel against the older generation. In the documentary Greenwich Village: Music That Defined a Generation, Tom Bernadin stated that â€Å"money was not the driving force behind your existence† (Greenwich Village). In Greenwich Village and other places around t he United States, younger people wouldRead MoreMusic, Culture And Ideology Of The Sixties Post War Generation1184 Words   |  5 PagesFrom the early basement concerts at the Cavern Club to the impromptu roof-top session atop Apple Studios, The Beatles were a phenomenon that influenced the music, culture and ideology of the Sixties’ post-war generation. With the spectre of their parents’ war behind them, British teens of the early 1960s ushered in a hitherto-unknown youth culture into a society ready for positive change. Paul McCartney said in conversation with biographer Barry Miles. â€Å"This working-class explosion was all happeningRead MoreAnalysis Of Michael Jackson s The Rock Band Nirvana s Sophomore Album1680 Words   |  7 PagesIn 1992, Michael Jackson’s Dangerous fell from the number one spot on the Billboard music charts, replaced by grunge rock band Nirvana’s sophomore album, Nevermind, bringing alternative rock to mainstream and commerci al success. Nirvana had started out in Seattle’s underground music scene and consisted of lead singer and songwriter Kurt Cobain, bassist Krist Novoselic and drummer Dave Grohl. Their sound was a subgenre of alternative rock known as grunge, a combination of punk rock and heavy metalRead MoreInterviews on Human Development Through Three Generations1532 Words   |  6 Pagesinterview three generations on the subject of my choice. In this paper I will talk about the following; each person I interviewed, their responses to the questions, the difficulties I faced, the stages of development each generation is experiencing, relating each generation to a theory, compare the similarities and differences each generation is experiencing in their stage of development, and what I learned from this experience. The topic I explored for each generation was music. Music can be a emotionalRead MoreThe Song American Pie Is A Representation Of Loss During The Transition Into The 1960s893 Words   |  4 Pagesknew produced the lost generation that McLean was apart of. He demonstrated his disapproval of the direction of the country by using music, faith, and war as examples of the changes and loss his generation faced. Music heavily influences and creates a voice for the people of the time period it is written in and also reflects the tone of the time period. Mclean’s generation was impacted greatly by classic rock and roll artists, such as Elvis Presley and Buddy Holly. Music direction and message portrayedRead MoreThe Manifesto For A New Generation1439 Words   |  6 PagesVictor Hugo stated, â€Å"Music expresses that which cannot be said and on which it is impossible to be silent.† This quote encapsulates the idea of how music can be more than just sounds. It states what music is too many on a deeper level than that. Music is not only something that we listen to and our brains let off dopamine; music in some musicians cases, is a struggle for freedom or even the struggle for a better future. Music is the manifesto for a new generation. Music is love, emotion, happiness

Supernatural Elements In Shakespeares Macbeth - 1305 Words

Powerful Influences: Supernatural Elements in Macbeth How might one’s power be altered if influenced by a mystical power? In William Shakespeare’s Macbeth, unearthly presences can control an individual’s perspective on authority. Firstly, the support of a supernatural premonition will augment one’s desire for power. Secondly, the intervention of sinister prophecies changes an individual’s perspective on authority. Finally, God’s divine will impact one’s view on a supposedly corrupt sovereignty. As such, the presence of supernatural elements in Macbeth effect an individual’s perception of power. When a supernatural temptation is presented, one’s desire for power can be enhanced. Throughout this play, Macbeth relies on the witches’†¦show more content†¦I go, and it is done; the bell invites me. Hear it not, Duncan, for it is a knell That summons thee to heaven or to hell. (2. 1. 67-71) Unlike his previous uncertainty, Macbeth has resolved to kill King Duncan as the greed for power overcomes the guilt he feels. Macbeth fears that his courage will wither away, but the bell rings and he assures himself that the murder is as good as done. The bell symbolizes the beginning of Macbeth’s pursuit for power; however, it signals the end of the reign of King Duncan. Macbeth’s evil crime marks the change in his view of power as he now sees it as tangible object he can obtain unlike before where it was completely out of his reach as he was not heir to the throne. By succumbing to the supernatural temptations, Macbeth follows a path where he can obtain the most sovereignty. Secondly, the veracity behind the supernatural elements will intervene with an individual’s view of authority. Out of curiosity, Banquo asks the three witches about his fate. However, he is more suspicious about the prophecy and questions the truthfulness behind their words: â€Å"[. . . ] The instruments of darkness tell us truths, / win us with hones trifles, to betray us / In deepest consequence.† (1. 3. 133-135). Banquo believes that while the witches speak the truth, they will eventually have to suffer the consequences of this knowledge. His doubtfulness toward the prophecies cause him to worry about the actions Macbeth will take toShow MoreRelated Supernatural Elements in Shakespeares Macbeth Essay2497 Words   |  10 PagesConsider the use that Shakespeare makes of supernatural elements in the play Macbeth. In the Shakespearean era, there was an eruption of superstition and alleged witchcraft. The people of that time had strong hatred for the ‘devil worshiping’ witches and had various trials and tests to determine their fate. Shakespeare used this as inspiration for his play ‘Macbeth’ We see the character of Macbeth go through a personality transformation after a powerful predicament from Three witches. StartingRead MoreRole of Supernatural in Shakespeares a Midsummer Nights Dream1547 Words   |  7 PagesStudy of Shakespeares Use of the Supernatural (Penn State University, English 444.2: Spring 1998) by Fred Coppersmith Near the end of the opening scene of Macbeth, Shakespeares three Weird Sisters proclaim in unison that fair is foul, and foul is fair, providing us, as readers, with perhaps the best understanding of the plays theme and the tragic downfall of its central character. That this revelation -- this pronouncement that all is not well in Scotland -- comes from a supernatural or otherworldlyRead MoreMacbeth Themes899 Words   |  4 Pages â€Å"What are the major themes in Macbeth† By Connor Maguire William Shakespeare’s Macbeth a play complete with many themes and viewpoints. The themes are exhibited by the main characters of the play, notably antagonist Macbeth. Themes seen in the play include ambition, where is is portrayed as both dangerous and unnatural. However, it does exist in both good and evil forms in the play. Another theme seen is whether Macbeths actions in the play are a result of fate, or free will. Although outsideRead MoreSupernatural Soliciting Within Shakespeare s Macbeth1728 Words   |  7 PagesJulia Sawicka Ms. Paolone ENG3U1d Monday, November 6th, 2017 Supernatural Soliciting within Shakespeare s Macbeth Shakespeare’s Macbeth is broadly known as a cursed play by a myriad of individuals globally. Given its appalling history of death and disorder, as well as the supernatural elements present within the play, many have come to the latter conclusion. To add, Macbeth is also a tragedy, adding more malediction to the already allegedly accursed play. To create such a tragic, ill-fatedRead More The Supernatural in Shakespeares Works Essay1747 Words   |  7 PagesThe Supernatural in Shakespeares Works No one questions the fact that William Shakespeare is a pure genius when it comes to creating immortal characters whose characteristics transcends those of the normal supernatural beings, but most students of literature agree that his uses of the supernatural aren’t merely figments of his creative imagination. Every man, woman, and child is influenced by the age into which they are born and Shakespeare was no exception. Not only does his use of supernaturalRead MoreThe Supernatural Element Of William Shakespeare s Macbeth1265 Words   |  6 PagesWhat is interesting is what each supernatural element represents in Shakespeare’s society and in our current society. The supernatural elements in Macbeth include fate, the witches, mythological beings, ghosts, and apparitions. I believe that the witches in Shakespeare’s time, in the play and in real life, represent the power of choice. The power to be able to decide to commit murder or any other heinous act or decide to let things naturally happen shows the classic choice between good and evil,Read MoreShakespeares Use of the Supernatural in Macbeth Essay868 Words   |  4 PagesThe supernatural was a popular element in many of the plays written in Shakespeares time (including Hamlet) and everyone of Shakespeares time found the supernatural fascinating. Even King James I took a special interest in supernatural and written a book, Daemonologie, on witchcraft. It must be remembered that, in Shakespeares day, supernatural referred to things that were above Nature; things which existed, but not part of the normal human life and unexplainable. The play Macbeth involves manyRead MoreThe Supernatural Elements Displayed in The Tragedy of Macbeth1224 Words   |  5 PagesWriters of the Renaissance often wrote about supernatural elements. William Shakespeare is a writer during this period, and he is also the author of The Tragedy of Macbeth. The supernatural elements are the key contributors to the play . They add fear and mystery to the novel. Shakespeare’s play, The Tragedy of Macbeth, displays many supernatural elements: the nature, ghosts, and the witches are the most significant. People during the Renaissance were very superstitious; consequently, their connectionRead MoreOccult and Supernatural Elements in Macbeth1402 Words   |  6 PagesAlthough Macbeth is not classed as being a supernatural play or a play of the occult, there are some elements in the play that Shakespeare uses to effect. It is necessary however, to define what is meant by the terms ‘occult’ and ‘supernatural’: the term ‘occult’ is defined as being ‘supernatural beliefs, practises or phenomenon’ and the term ‘supernatural’ is defined as being ‘attributed to some force beyond scientific understanding or the laws of nature’; both these terms can be associated withRead MoreAnalysis Of The Tragedy Of Macbeth1207 Words   |  5 Pages The ‘Tragedy of Macbeth’ (also known as ‘Macbeth’) is a play written by William Shakespeare and it was first performed in 1606. This play presents plenty of themes through the action and dialogue throughout the play. Although the play is universally and most commonly referred to as the dark tragedy presented by Shakespeare. The most common themes that were introduced to the audience tend to be femininity versus masculinity, pride and honor, the role of supernatural, temptation and evil and a lot

Burger King vs Scientific Management free essay sample

Scientific management is a theory that indicates each worker should be trained in one specialized part only to simplify the jobs so they could perform at their best ability in order to increase productivity. After years of experiment and examining in the field of management, Taylor proposed four principles of scientific management. Internet centre of management and business administration, inc (2002-2007)) state that the first principle of scientific developed by Taylor was to replace rule –of-thumb work methods with methods based on a scientific study of the task. This showed that introducing scientific management which each man doing only one specialized part, quickly replace the old method. Second principle is to scientifically select, train and develop each worker rather than passively leaving them to train themselves (Internet centre of management and business administration, inc (2002-2007)). This means rather than leaving the worker to chose his own job and train themselves to their best abilities, instead, we could instruct them to their jobs. Third point was to cooperate with the workers to ensure that the scientifically developed methods are being followed. (Internet centre of management and business administration, inc (2002-2007)) This point suggested that workers will be cooperating with each other to make the best out of â€Å"the each worker specialized in one area† method. The last principle was to divide equally between managers and workers. So the managers apply scientific management principles and the workers actually perform the task. (Internet centre of management and business administration, inc (2002-2007)) By doing this will actually achieve the best result of scientific management as each manager has their own part to control and will increase productivity. From the above information we already know what is scientific and how it applies to business. The first principle of replace rule-of-thumb work methods with scientific management, Burger King has done well in this section. The old method was to leave every worker to do all their trainings through working. They do not specialize the areas of their work and was lack of cooperation. The old method really wasted resources and decreased productivities. By introducing scientific management to Burger King, each worker has their own special area of work to do and provide trainings to them before they actually work. This helps the workers to get familiar with their work before they actually do the job. This saves a lot of resources as workers are trained professionals and increases productivities a lot. Compare the information above with Burger King, they had well managed their crew and train each one of their crews to perform best of their ability. Each crew before joining the working team will be trained in one specific area that they applied for. For example, a crew member before joining the team applied for a job at the front counter taking orders. The Burger King training manager will train this member for what he has to do and this refers to the principle that workers are trained specifically. This will increase their productivity as the worker was well trained in their position and will perform best to their abilities in order to achieve scientific management theories. Based on the explanations of scientific management, Burger King has put it well in practice. In New Zealand, Burger King has a head quarters in each city that has a Burger King restaurant. This head quarter manages each and every one of the BK restaurant in the city. They give orders to restaurant in their control area when to promote their newest product, when and how to pay their employees, regularly checking the quality of their product in each restaurant and each restaurant will perform the orders given to improve their productivities. Inside each restaurant, there is a store manager who will take the orders from the head quarter and deliver it to the members in the store. From there, each manager in each specialized area will perform the order given. For example, the store manager set a order for the closing manager tonight to clean all the walls and windows, the closing manager will take this order and deliver it to the crew who is working on his shift. He will give each one of them a specialized job to do to increase productivity. Also every crew in the restaurant have their specialized part of the job. For example: there are crews making burgers, some crews are taking orders, some are washing dishes and some will clean the restaurant dining area. This well illustrates the principle of divide equally between managers and workers so the managers can apply scientific management to the workers at their control. Burger King also applied the principle of cooperating with the workers so the scientific management theory are being followed. Everyday, there will be managers cooperating with crews at all times. This not only will help to increase productivities as the managers can give orders to crews to do the need but also it can improve the relationship between managers and the workers. For example, when a crew member was taking order, the manager who was on shift will usually help him to run the order to save time to achieve efficiency. Also when making burgers, there will be two boards, one side making all the chicken burgers and one side making all the beef burgers. This specializes the workers as each side only makes similar kind of burgers. Also there will be two people on each side of the board. One will heat the bread and prepare all the ingredient needed for the burger and the other person will put everything together and wrap the burgers. This reflects the cooperating with each other to achieve greater productivity. Although scientific management improved productivity, but the lack of communication between workers will lead to disagreement and conflict between managers and workers. Because under the structure of scientific management, workers will often feel being used by the employers. Because they have to repeat the same kind of jobs everyday and they have no freedom in changing their role as the training has already taken in place. Extra training will cost the employers and employers will think what they have got right now is good enough and changing a person to a new field will just be an waste of resources. In conclusion, scientific management which was widely used in all kind of business, well develop the potentials of all workers and achieve the best productivities by giving each worker only one specialized job to do. In Burger King, a fast food restaurant, scientific management was well illustrated example. All four principles that Taylor developed in the theory of scientific management was well performed in Burger King. Although scientific management was not a perfect theory, it well increases productivities in all kind of business by specializing and cooperating.

Bsp-Banko Central Ng Pilipinas free essay sample

July 15, 2010 |Higher growth wont stoke inflation – BSP | | | |By Lawrence Agcaoili | MANILA, Philippines Monetary authorities said yesterday that a higher economic growth next year won’t stoke inflation as long as the government manages to keep its budget deficit in check. Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo said the central bank could manage the impact of higher economic growth on inflation as long as the government’s budget shortfall is not premised on huge borrowing and wasteful public spending. â€Å"In fact, there were instances in the past when we achieved a great deal of convergence between high economic growth and stable inflation. That is close to an ideal situation that should be made durable over the long term,† Guinigundo stressed. The Cabinet-level Development Budget Coordination Committee (DBCC) has kept its revised gross domestic product (GDP) growth target of five percent to six percent this year but raised its GDP growth target next year to seven percent to eight percent. However, the DBCC decided to keep the inflation target of 3. 5 percent to 5. 5 percent this year and three percent to five percent for next year set by the BSP. The central bank is likely to lower its inflation forecast for this year and next year during its scheduled meeting today as inflation eased surprisingly to a seven-month low in June. Last June 3, the central bank slashed its inflation forecast to 4. 7 percent from 5. 1 percent for this year and to 3. 6 percent from 3. 7 percent for next year in light of the reduction of power costs, lower oil prices, steady commodity prices, moderate liquidity growth, and the continued strengthening of the peso against the US dollar [pic] .The latest inflation forecast also took into consideration the stronger-than-expected gross domestic product (GDP) growth registered in the first quarter of the year. The country’s GDP zoomed to its fastest pace in almost three years after expanding by 7. percent in the first quarter of the year from only 0. 5 percent in the same quarter last year. Latest data from the National Statistics Office (NSO) showed annual inflation eased to a seven-month low of 3. 9 percent in June form 4. 3 percent in May bringing the average inflation to 4. 2 percent for the first half of the year from 5. 0 percent in the same period last year. Inflation las t month was the lowest since 2. 8 percent recorded in November last year. â€Å"If we succeed in reaching that point, the issue of inflation will be less of an issue because much of the supply side risks would be effectively addressed,† Guinigundo explained. According to him, Filipinos would have to do their share in helping the administration of President Benigno â€Å"Noynoy† Aquino III to achieve faster economic growth after the global economic meltdown. July 14, 2010 |BSP expected to maintain policy rates | | | |By Lawrence Aqcaoili | MANILA, Philippines Economists and analysts believe that the Bangko Sentral ng Pilipinas (BSP) would keep its key policy rates unchanged during the meeting of the Monetary Board tomorrow. Singapore-based DBS Bank Ltd. and Switzerland-based UBS AG said the BSP’s policy-setting body is widely expected to keep its overnight borrowing rate and overnight lending rate steady on July 15. UBS economist Edward Teather said in its Asian Economic Comment entitled â€Å"Asean Monetary Policy Update† that unlike the Bank of Thailand the BSP is likely to keep its key policy rates unchanged this week. â€Å"We expect an initial 25 basis points policy rate increase from the Bank of Thailand on July 14 but not the BSP on July 15,† Teather stressed. Aside from the Philippines and Thailand, he pointed out that Bank Indonesia has yet to adjust its key policy rates while other banks such as Taiwan and Malaysia have raised their policy rates. The policy-setting body has kept its policy rates unchanged for eight consecutive policy-setting meetings since The policy-setting body has kept its policy rates unchanged for eight consecutive policy-setting meetings since July last year in the face of uncertain global economic prospects and with recovery proceeding at different stages and speeds in various parts of the world. The BSP has lifted all its crisis-intervention measures since the start of the year except for the reduction of the reserve requirement for banks to 19 percent from 21 percent in its bid to release more liquidity into the financial system to soften the impact of the global economic meltdown. Last January 28, the BSP raised the rate on a short-term lending facility to four percent from 3. 5 percent marking the start of an exit strategy with the tweaking of exiting liquidity enhancing measures. Last March 11, monetary authorities reduced the peso rediscounting budget to P40 billion from P60 billion, restored the loan value of all eligible rediscounting papers to 80 percent from 90 percent of the borrowing bank’s credit instrument, and restored the non-performing loan (NPL) ratio requirement of two percentage points from 10 percentage points. Last April 22, the central bank continued unwinding of crisis intervention measures that were adopted since November of 2008 by further reducing the budget for peso rediscounting facility to to pre-crisis level of P20 billion from P40 billion. BSP keeps key policy rates unchanged | | | |By Lawrence Agcaoili | MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) has decided to keep its key rates at a record low for ninth consecutive policy-setting meetings since Jul y last year amid the uncertainty over the strength and pace of the global economic recovery as well as benign inflation outlook, BSP Governor Amando M. Tetangco Jr. announced yesterday. In a press conference, Tetangco said the BSP decided to keep its overnight borrowing or reverse repurchase rate at a record low of four percent and its overnight lending or repurchase rate at six percent Likewsie, the interest rates on term reverse repurchase facility, repurchase facility, and special deposit accounts (SDAs) were also left unchanged. This was the ninth straight meeting wherein the board decided to keep its policy rates unchanged. During the height of the global financial crisis, the BSP slashed its key policy rates by 200 basis points between December 2008 and July 2009 but introduced several liquidity-enhancing measures to cushion the impact of the global economic meltdown. â€Å"The Monetary Board also noted that the uncertainty over the strength and pace of the global economic recovery warranted maintaining current policy settings,† Tetangco said. The BSP chief also cited the benign inflation outlook as consumer prices are expected to stay within the 3. 5 percent to 5. 5 percent as well as three percent to five percent target set by monetary authorities for this year and next year. â€Å"The Monetary Board’s decision was based on its assessment that current monetary policy settings continue to be appropriate, given the favorable inflation outlook and on-target inflation expectations,† he added. Apart from keeping its key policy rates unchanged, the BSP also decided to put on hold further withdrawal of liquidity enhancing measures. Monetary authorities started to phase out liquidity enhancing measures that were implemented way back in November 2008 as early as January 28 in light of the gradual global economic recovery. The Monetary Board decided to increase the rate on a short-term lending facility to four percent from 3. 5 percent. Other crisis-related measures that were tweaked included the reduction of the peso rediscounting budget to P40 billion and further to pre-crisis level of P20 billion from P60 billion, the restoration of the loan value of all eligible rediscounting papers to 80 percent from 90 percent of the borrowing bank’s credit instrument, and the restoration the non-performing loan (NPL) ratio requirement of two percentage points from 10 percentage points. However, monetary authorities decided to maintain the reserve requirements for banks. As part of its liquidity enhancing measures to cushion the impact of the global financial meltdown in 2008, the BSP slashed the reserve requirement of banks to 19 percent from 21 percent to release more liquidity into the financial system. July 13, 2010 July 16, 2010 BSP checks expenses, perks of bank execs James Konstantin Galvez MANILA, Philippines—The Bangko Sentral ng Pilipinas will closely monitor banks’ spending on fringe benefits and bonuses of directors and officers due to rising budget allocations for such expenses. In a report, the BSP said banks’ spending would have to be scrutinized given that more than 75 percent of their operations are funded by deposits from the public. â€Å"The BSP is keeping a close watch on the fringe benefits and bonuses paid to directors and key officers of BSP-supervised institutions,† the central bank said in its latest report on the country’s financial system released last week. Data from the central bank showed that banks spent an aggregate amount of P74. 7 billion last year for fringe benefits and bonuses of officers and directors, constituting nearly 36 percent of their total non-interest expenses. Other non-interest expenses are tax payments, license renewals and depreciation of assets, among others. The regulator said in the report that the share of compensation, fringe benefits, and bonuses to total non-interest expense of banks in 2009 grew from P67. 5 billion the previous year, a rise of 33. 8 percent. Fringe benefits, including directors’ fees, accounted for P16. 2 billion or nearly 8 percent of total non-interest expenses of banks last year. This was up by almost 21 percent from P13. billion, or 7 percent of total non-interest expenses of banks the previous year. The rise in banks’ spending for fringe benefits last year was much faster than the annual inflation during the period, which stood at only 3. 9 percent. Although the BSP does not yet consider banks’ current spending for fringe benefits and bonuses as anomalous, the regulator said it found merit to closely watch bank expenditures as a means to safeguard public money. The BSP said it would no t want to see the country’s banking sector go the way of the US financial sector. Following the highly publicized outrage of American taxpayers on exorbitant bonuses paid to officers of the ailing insurer, American International Group, which received $180 billion in bailout money from the Federal Reserve in 2008, the BSP will keep a close watch on supervised banks,† the BSP said. |BSP dividends to National Government up 46% | | | |By Lawrence Agcaoili | MANILA, Philippines The amount of dividends to be remitted by the Bangko Sentral ng Pilipinas to the National Government grew by more than 46 percent this year after the BSP posted higher earnings. BSP Governor Amando M. Tetangco Jr. said in an interview with reporters that the central bank would remit about P9. 8 billion worth of dividends to the national coffers this year or about P3. 1 billion higher than the P6. 7 billion it remitted last year. Tetangco said the amount to be remitted this year would be the second biggest, with the highest being the P10. billion dividends declared in 1997. Republic Act 7658 or the dividends law requires government-owned and controlled corporations (GOCCs) and government financial institutions (GFIs) to remit 50 percent of their net income to the National Government. However, RA 7553 or the New Central Bank of 1993 requires the BSP to declare 75 percent of its net earnings as dividends in favor of the National Government. July 12, 2010 Based on i ts unaudited financial statement, the BSP’s net income reached about P13 billion last year or about 45 percent higher than the P8. 93 billion it earned in 2008. Last year, the central bank remitted about P6 billion to the national coffers and another P696. 33 million in the first half of the year to complete its dividend payments for its earnings in 2008. For its net income last year, Tetangco said the BSP remitted P4. 475 billion as well as P450 million in property dividends to the National Government during its 17th anniversary celebration. He pointed out that the BSP would remit another P4 billion in the next few months subject to the completion by the Commission on Audit (COA) of its review of the central bank’s 2009 financial statements. The BSP chief said the central bank has declared P59. 5 billion worth of dividends in favor of the National Government since it was created in 1993 and paid more than P50 billion in taxes over the past 11 years. The central bank continued to remit dividends religiously despite the failure of the National Government to complete its P50-billion capital infusion to the BSP. July 11, 2010 |More banks extending business hours | | | |By Lawrence Agcaoili | MANILA, Philippines More banks have extended their regular operating hours in branches located in shopping malls, airports, university belts, MRT and LRT stations to service their clients, the Bangko Sentral ng Pilipinas (BSP) reported over the weekend. The BSP said more top tier bank branches, particularly those located closer to areas where there is heavy foot traffic continued to extend their banking hours to meet their client servicing requirements. Overall, this is a good indication of banks’ financial soundness, market sophistication and commitment to service not to mention, broadly in step with international best practices,† the BSP stated in its Status Report on the Philippine Financial System. The central bank said overseas banks such as RBC Royal Bank in Canada, TBC Bank in Germany, Bank of Hawaii, Bhuj Mercantile Bank of India, and Bank in Mongolia are few examples of banks already offering 24/7 full branch service to their banking clients. Banco de Oro unive rsal bank of retail king and shopping mall magnate Henry Sy Sr. merged as the top bank last year in terms of assets with P815. 8 billion, deposit liabilities with P667. 6 billion, and loans with P469. 5 billion. The Metrobank Group of taipan George SK Ty emerged second in terms of assets with P691. 4 billion, deposit liabilities with P543. 5 billion, and loans with P339. 4 billion but was number one in terms of capital accounts with P70. 8 billion. Data from the BSP showed that the number of banking institutions fell further to 779 as of end-March this year from a year-ago level of 811 due to mergers and consolidations. By banking classification, the BSP said banks consisted of 38 universal and commercial banks, 74 thrift banks, and 667 rural banks. However, the central bank reported that the the operating network including branches of the banking system increased by 188 to 8,663 as of the first quarter of the year from 8,475 during the same quarter last year. The BSP said the increase reflected mainly the the increase in the branches and agencies of commercial and rural banks. Data showed that the banking system’s total resources increased by 8. percent to P6. 4 trillion as of end-March from P5. 9 trillion as of end-March last year due mainly to the rise in loans and debt securities accounts. The BSP also reported that bank deposits increased by 8. 8 percent to P3. 4 trillion as of the first quarter of the year as savings deposits went up by 14. 9 percent while demand deposits or checking accounts rose by 16. 2 percent. Time deposits contracted by 4. 2 percent during the period. Earlier, BS P Deputy Governor Nestor Espenilla Jr. aid studies showed that there are still too many universal and commercial banks considering the size of the country’s economy. July 10 2010 Banks see no BSP rate hike By Erik Dela Cruz WITH average inflatP rate hike By Erik Dela Cruz WITH average inflation in the Philippines this year seen closer to the low end of the government’s target of 3. 5 percent to 5. 5 percent, the Bangko Sentral ng Pilipinas (BSP) may keep its key interest rate at a? record low of 4 percent for   the rest of the year, according to? the top? economist? f Banco de Oro Unibank (BDO). The research group of Metropolitan Bank Trust Co. (Metrobank), meanwhile, has lowered its 2010 inflation forecast this year to 4. 1 percent, from 4. 7 percent, after the rise in consumer prices eased further in June. â€Å"In light of the stable inflation environment, our expectation for BSP to hike interest rates has been pushed back to early next year,† BDO chief ma rket strategist Jonathan Ravales said. The BSP holds its fifth policy-setting meeting this year on Thursday and is widely expected to keep rates unchanged. The rates have been steady since July last year? after it delivered its last of a series of rate cuts totaling 200 basis points, aimed at shielding the domestic economy from the global recession. Headline inflation dropped further to an annual rate of 3. 9 percent in June from 4. 3 percent in May and averaged 4. 2 percent for the first half of the year. Core inflation, which excludes certain food and energy items to measure broad-based price pressures, also decreased to 3. 7 percent from 3. 8 percent in the previous month.? He said the BSP will deliver possibly in the first quarter of 2011 its first rate hike since August 2008, and expects a one-percentage-point rate increase for all of next year, when average inflation is projected to ease further 3. 3 percent. Still, Ravales remains relatively conservative with his growth forecast of 3. 5 percent for gross domestic product this year, much lower than the government’s growth target of between 5 percent and 6 percent. The economy is projected to grow 5 percent in 2011, based on Ravales’ estimates, with remittances of overseas Filipinos—which have been driving domestic demand—seen rising to a record $19. 5 billion from this year’s estimate of $18. 35 billion. Ravelas is keeping his year-end peso exchange-rate forecast of 46 to the US dollar, which is a bit firmer compared with the end-2009 closing level of 46. 20. Pauline Revillas, research analyst at Metrobank, said the slower rise in consumer   prices in June suggest s that the economy could still accommodate an increase in domestic liquidity without fanning inflation. The contraction in the agriculture sector due to the dry spell, she noted, did not have much impact on food supply. Any effects, she believed, would not be enough to cause a significant rise in consumer prices in the coming months. â€Å"The lower inflation figure   [in June] also reflects the slightly diminished consumer confidence in the second quarter, as reported in the latest BSP consumer-confidence survey,† Revillas said in a research note. June 28, 2010 July 09, 2010 |Bangko Sentral ng Pilipinas likely to lower inflation forecast | | | |By Lawrence Agcaoili | MANILA, Philippines Monetary authorities are likely to lower the inflation forecast this year and next year after inflation eased surprisingly to a seven-month low in June, Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. said. Tetangco told reporters that the BSP would review on July 15 the latest inflation forecast for this year and next year. Tetangco said the BSP would review its latest inflation forecast given the new information to see whether or not there is a need to make adjustments in its latest policy stance. Last June 3, the central bank slashed its inflation forecast to 4. percent from 5. 1 percent for this year and to 3. 6 percent from 3. 7 percent for next year in light of the reduction of power costs, lower oil prices, steady commodity prices, moderate liquidity growth, and the continued strengthening of the peso against the dollar [pic] .The latest projections were within the targets of 3. 5 percent to 5. 5 percent this year and three percent to fi ve percent for next year set by the BSP. The latest inflation forecast also took into consideration the stronger-than-expected gross domestic product (GDP) growth registered in the first quarter of the year. The country’s GDP zoomed to its fastest pace in almost three years after expanding by 7. 3 percent in the first quarter of the year from only 0. 5 percent in the same quarter last ? year. Latest data from the National Statistics Office (NSO) showed the inflation rate eased to a seven-month low of 3. 9 percent in June form 4. 3 percent in May bringing the average inflation to 4. 2 percent for the first half of the year from five percent in the same period last year. Inflation last month was the lowest since the 2. 8 percent recorded in November last year. Tetangco said the lower inflation gave monetary authorities enough elbow room to keep its key policy rates at record low during their meeting on July 15. â€Å"This inflation path therefore puts the full year inflation targets for 2010 and 2011 fairly safe, and thus provides BSP flexibility when we review the stance of monetary policy next week,† he added. However, the BSP chief pointed out that it was still early to rule out a possible policy rate hike within the year. The central bank’s Monetary Board has kept its policy rates nchanged for eight consecutive policy-setting meetings since July last year in the face of uncertain global economic prospects and with recovery proceeding at different stages and speeds in various parts of the world. It would be recalled that the Monetary Board decided to slash its key policy rates by 200 basis points between December of 2008 and July of 2009 as part of its accommodative stance to cushion the impact of the global economic meltd own. This brough the overnight borrowing rate at a record low of four percent and the overnight lending rate at six percent.