Contrasting programs and policies related to poverty Research Paper

Contrasting programs and policies related to poverty - Research Paper Example On the other hand, it can be apparently observed that America is still undergoing through a tough phase in tackling its poverty level, which fluctuates on a constant basis (The World Bank Group, 2014). With this concern, the research paper would describe the programs along with the policies associated with poverty that adopt and implement by the countries i.e. the US and China. Moreover, a comparison would also be taken into concern regarding the same in the discussion of the research paper. Prior to contrasting the programs along with the policies associated with poverty between China and the US, a detailed description of these programs as well as policies of both the nations has been provided hereunder. Since the year 1980, the Chinese government has shown significant improvement in declining the poverty rates. The projected poverty rate in China in the year 1980 was estimated 84%, which came down to 13% by the year 2012. The reason contributed in making this terrific improvement is the rise particularly in GDP rates. This can be justified as that the GDP rate rose from 1.89% in the year 1980 to 11.57% in the year 2012, which further resulted towards increase in per capita income by nearly about 30 folds from $205 to $6064 in recent times (The Economic Times, 2013). However, despite the significant success in uplifting the critical concern of poverty, China in the current scenario, is still facing certain issues relating to poverty. In this regard, the increase in the inequality levels and the concentration of the left over poverty populaces in the rural areas are becoming critical concern for the Chinese government (The World Bank Group, 2014). As a corrective measure, China along with ‘The International Bank for Reconstruction and Development (IBRD)’ has concentrated their efforts on two vital aspects. One of these is the pilot projects that will be brought under superior technical

Recent changes in local laws in various countries set requirements for Essay

Recent changes in local laws in various countries set requirements for National Oil Companies (NOCs) participation in oil and ga - Essay Example Joint ventures are common among the operators within the oil and gas industry in order to tray and minimize operation risks as well as technical challenges often faced while in the normal operations in the industry. Companies involved in exploration of oil and gas, general exploitation of the same as well as appraisal and production activities are in recent times being not executed by single companies but through collaboration by many companies. These joint ventures therefore share in towards contributing for expenditures and other costs incurred and share the proceeds realized in the exploration and exploitation of the commodity according to individual company’s contributions. Joint ventures operate on the platform of sharing on capital investments as well as skills and expertise, which necessitates one company, which would lack such to benefit from the partner(s) in the venture. Joint ventures within the oil and gas industry enjoy such privileges as being unincorporated and hence they are not taxed and cannot sue or are sued for the reason of not having distinct legal personality. The terms of licensure of operations by joint ventures imposes some liabilities on them as stipulated by the governing authority, which the joint operating agreement purposely addresses. The JOA therefore have particular roles in regulating the obligations, relationships as well as the rights that govern the parties in a joint venture. Normally, the agreement is binding over lifetime or until the joint operations ceases because of completion of a task or otherwise as would be determined in termination of a contract. It stipulates the funding procedures as well as the voting procedures and has other stipulations on mechanisms to address corrective measures instituted in the event that a partner fails to act in accordance to the agreement. Therefore, the general infrastructure of the legal framework guiding the joint operating agreements is binding and well laid out. The partie s therefore undertake a critical outlook into the structure of the JOA regarding any unforeseen eventualities, which would occur in the future. However, it is worth noting that the formulation and adoption of a JOA framework must be based on an existing legal structure such as the English law, which then stipulates the institutional framework that would govern the running of the agreement between the parties engaged in the joint venture (Jensen and Failat, 2013, p. 1-13). National governments as well as foreign companies interact in the industry of oil and gas through consent through negotiated contracts. NOC (National oil companies) normally gets involved in the exploitation of and exploration for oil through signing into contracts such as concession agreements, service contracts, joint venture contracts as well as production sharing agreements, which involves collaborating with other external companies in the oil and gas deals. Nevertheless, the operations of such contracts involv ing the national oil companies as well as other external companies necessitates the operation-ization of a structure that would be instrumental in outlining the operations of the agreement and this is formalized through the JOAs. The evolution of legal structures that govern the

Explain How Products Are Developed Essay Example for Free

Explain How Products Are Developed Essay 3.1.1 The product life cycle (PLC). The product life cycle is used for determining the lifespan of products and there are 4 sub stages of product: introduction, growth, maturity and decline. From 2007 until now, Honda Air Blade has become the most successful line of Honda’s motorbike as well as on market. Since it was born, Honda Air Blade has achieved sales of more than 2 million products. This year, from April to the end of September, Honda Air Blade reaches to 274,563 products. (Zing, 2014) This motorbike has brought more profits and impacted strongly on revenue of company. Honda has had the success with this product line. But in the modern world, to be able to compete with the competitors, Honda needs to improve quality, style of products and consider market prices as well as competitors to make a better product 3.1.2. Branding and brand leadership. a. Branding: A brand is much bigger than just the corporate logo. The brand attributes are formed from the efforts of corporation in the process of marketing communication activities and the character of business. Therefore, corporation needs to have an appropriate strategy to release a good PR campaign to make them more attractive than the competitors. Honda has slogan:† The power of dreams†, easily to remember and it has been very famous around the world. b. Brand leadership: The first appearance of Honda in Vietnam is in 1996, until now has been through 18 years and they have always been one of the forefront in their industry. (Honda, 2014) But now, Vietnam’s market has Yamaha, the biggest rival of Honda and the competition between both will continue for a long time in the future. Consequently, Honda has to use and combine an ingenious of design, advertising, marketing, and corporate culture. It will help create brand attributes in the minds of the people and that this will bring

Analog vs digital communication

Analog vs digital communication Table of Contents Introduction Communication System Definition Analog Communication Digital Communication Advantages of Digital Communication Disadvantages of Digital Communication Comparison of Analog and Digital Communication 1. INTRODUCTION: Analog Communication is a data transmitting technique in a format that utilizes continuous signals to transmit data including voice, image, video, electrons etc. An analog signal is a variable signal continuous in both time and amplitude which is generally carried by use of modulation. Digital communicationsis the physical transfer ofdata over a point-to-point or point-to-multipointtransmission medium. Examples of such media arecopper wires,optical fibers,wirelesscommunication media, andstorage media. 2. COMMUNICATION SYSTEM Communications is the field of study concerned with the transmission of information through various means. It can also be defined as technology employed in transmitting messages. It can also be defined as the inter-transmitting the content of data (speech, signals, pulses etc.) from one node to another. A communication system is a combination of processes and the hardware used to accomplish the transfer of the Information (communication). Acommunications subsystemis afunctional unitoroperational assemblythat is smaller than the larger assembly under consideration. Examples of communications subsystems in theDefense Communications System(DCS) are: (a)A satellite linkwith oneEarth terminalinCONUSand one in Europe (b)The interconnect facilities at each Earth terminal of the satellite link (c)An optical fiber cablewith its driver and receiver in either of the interconnect facilities. Communication subsystem (b) basically consists of a receiver,frequency translatorand a transmitter. It also containstranspondersand other transponders in it andcommunication satellitecommunication system receives signals from theantenna subsystem. A communication system providesus only with a channel for the mutual informationexchange which is not apriori dedicated to certain categories ofinformationonly. Communication system consists of Analog and Digital communication. 3. ANALOG COMMUNICATION Analog communication is a communication method of conveying voice, data, image, signal or video information using a continuous signal which varies in amplitude, phase, or some other property in proportion to that of a variable. It could be the transfer of an analog source signal using an analog modulation method such as FM or AM, or no modulation at all. Analog transmission is still very popular, in particular for shorter distances, due to significantly lower costs and complex multiplexing and timing equipment is unnecessary, and in small short-haul systems that simply do not need multiplexed digital transmission. However, in situations where a signal often has high signal-to-noise ratio and cannot achieve source linearity, or in long distance, high output systems, analog is unattractive due to attenuation problems. Furthermore, as digital techniques continue to be refined, analog systems are increasingly becoming legacy equipment. Recently, some nations, such as the Netherlands, have completely ceased analog transmissions on certain media, such as television, for the purposes of the government saving money. Analog systems are very tolerant to noise, make good use of bandwidth, and are easy to manipulate mathematically. However, analog signals require hardware receivers and transmitters that are designed to perfectly fit the particular transmission. If you are working on a new system, and you decide to change your analog signal, you need to completely change your transmitters and receivers. Analog signals are signals with continuous values. Analog signals are used in many systems, although the use of analog signals has declined with the advent of cheap digital signals. 4. DIGITAL COMMUNICATION Digital communications is the physical transfer of data(a digital bit stream) over a point-to-point or point-to-multipoint transmission medium. Examples of such media are copper wires,optical fibers,wireless communication media, and storage media. The data is often represented as an electro-magnetic signal, such as an electrical voltage signal or an infra-red signal. Data transmitted may be digital messages originating from a data source, for example a computer or a keyboard. It may also be ananalog signal such as a phone call or a video signal,digitized into a bit-stream for example using pulse-code modulation(PCM) or more advanced source coding(data compression) schemes. This source coding and decoding is carried out by codec equipment. Digital communication enables the data to be transmitted in an efficient manner through the use of digitally encoded information sent through data signals. These data signals are easily compressed and, as such, can be transmitted with accuracy and speed. Unlike in an analog communications where the continuity of a varying signal can not be broken, in a digital communication a digital transmission can be broken down into packets as discrete messages. Transmitting data in discrete messages not only facilitates the error detection and correction but also enables a greater signal processing capability. Digital communication has, in large part, replaced analog communication as the ideal form of transmitting information through computer and mobile technologies. The information source generates particular symbols at a particular rate. The source encoder translates these symbols in sequences of 0s and 1s. The channel encoder is oriented towards translating sequences of 0s and 1s to other sequences of 0s and 1s, to realize high transmission reliability and efficiency. The modulator accepts streams of 0s and 1s, and converts them to electrical waveforms suitable for transmission. The communication channel provides the electrical connection between the source and destination. It has a finite bandwidth, and the waveform transmitted suffers from amplitude distortion and phase distortion. In addition to distortion, power is decreased due to attenuation of the channel. Finally, the waveform is corrupted by unwanted electrical signals, referred to as noise. The primary objective of a communication system is to suppress the bad effects of noise as much as possible. The inverse process takes place at the destination side. The demodulator converts the electrical waveforms to sequences of 0s and 1s, the channel decoder translates the sequence of 0s and 1s to the original sequence of 0s and 1s. It also performs error correction and clock recovery. The source decoder finally translates the sequence of 0s and 1s into symbols. 5. ADVANTAGES OF DIGITAL COMMUNICATION: a). It is fast and easier. b). No paper is wasted. c). The messages can be stored in the device for longer times, without being damaged, unlike paper files that easily get damages or attacked by insects. d). Digital communication can be done over large distances through internet and other things. e). It is comparatively cheaper and the work which requires a lot of people can be done simply by one person as folders and other such facilities can be maintained. f). It removes semantic barriers because the written data can be easily chaned to different languages using software. g). It provides facilities like video conferencing which save a lot of time, money and effort. 6. DISADVANTAGES OF DIGITAL COMMUNICATION: a). It is unreliable as the messages cannot be recognised by signatures. Though software can be developed for this, yet the software can be easily hacked. b). Sometimes, the quickness of digital communication is harmful as messages can be sent with the click of a mouse. The person does not think and sends the message at an impulse. c). Digital Communication has completely ignored the human touch. A personal touch cannot be established because all the computers will have the same font! d). The establishment of Digital Communication causes degradation of the environment in some cases. Electronic waste is an example. The vibes given out by the telephone and cell phone towers are so strong that they can kill small birds. In fact the common sparrow has vanished due to so many towers coming up as the vibrations hit them on the head. e). Digital Communication has made the whole world to be an office. The people carry their work to places where they are supposed to relax. The whole world has been made into an office. Even in the office, digital communication causes problems because personal messages can come on your cell phone, internet, etc. f). Many people misuse the efficiency of Digital Communication. 7. COMPARISON OF ANALOG AND DIGITAL COMMUNICATION ANALOG Analog signals are signals with continuous values. Analog signals are used in many systems, although the use of analog signals has declined with the advent of cheap digital signals. Analog systems are very tolerant to noise, make good use of bandwidth, and are easy to manipulate mathematically. However, analog signals require hardware receivers and transmitters that are designed to perfectly fit the particular transmission. If you are working on a new system, and you decide to change your analog signal, you need to completely change your transmitters and receivers. DIGITAL Digital signals are signals that are represented by binary numbers, 1 or 0. The 1 and 0 values can correspond to different discrete voltage values, and any signal that doesnt quite fitinto the scheme just gets rounded off. Digital signals are intolerant to noise, and digital signals can be completely corrupted in the presence of excess noise. In digital signals, noise could cause a 1 to be interpreted as a 0 and vice versa, which makes the received data different than the original data. Imagine if the army transmitted a position coordinate to a missile digitally, and a single bit was received in error? This single bit error could cause a missile to miss its target by miles. Luckily, there are systems in place to prevent this sort of scenario, such as checksums and CRCs, which tell the receiver when a bit has been corrupted and ask the transmitter to resend the data. The primary benefit of digital signals is that they can be handled by simple, standardized receivers and transmitters, and the signal can be then dealt with in software (which is comparatively cheap to change). Analog communication systems, amplitude modulation (AM) radio being a typifying example, can inexpensively communicate a bandlimited analog signal from one location to another (point-to-point communication) or from one point to many (broadcast). Although it is not shown here, the coherent receiver provides the largest possible signal-to-noise ratio for the demodulated message.An analysis of this receiver thus indicates that some residual error will always be present in an analog systems output. Although analog systems are less expensive in many cases than digital ones for the same application, digital systems offer much more efficiency, better performance, and much greater flexibility. 1. Efficiency: The Source Coding Theorem allows quantification of just how complex a given message source is and allows us to exploit that complexity by source coding (compression). In analog communication, the only parameters of interest are message bandwidth and amplitude. We cannot exploit signal structure to achieve a more efficient communication system. 2. Performance: Because of the Noisy Channel Coding Theorem, we have a specific criterion by which to formulate error-correcting codes that can bring us as close to error-free transmission as we might want. Even though we may send information by way of a noisy channel, digital schemes are capable of error-free transmission while analog ones cannot overcome channel disturbances; see this problem for a comparison. 3. Flexibility: Digital communication systems can transmit real-valued discrete-time signals, which could be analog ones obtained by analog-to-digital conversion,andsymbolic-valued ones (computer data, for example). Any signal that can be transmitted by analog means can be sent by digital means, with the only issue being the number of bits used in A/D conversion (how accurately do we need to represent signal amplitude). Images can be sent by analog means (commercial television), but better communication performance occurs when we use digital systems (HDTV). In addition to digital communications ability to transmit a wider variety of signals than analog systems, point-to-point digital systems can be organized into global (and beyond as well) systems that provide efficient and flexible information transmission.Computer networks, explored in the next section, are what we call such systems today. Even analog-based networks, such as the telephone system, employ modern computer networking ideas rather than the purely analog systems of the past. Consequently, with the increased speed of digital computers, the development of increasingly efficient algorithms, and the ability to interconnect computers to form a communications infrastructure, digital communication is now the best choice for many situations. Advantages and disadvantages of analog vs digital communication: 1. The first advantage of digital communication against analog is its noise immunity.In any transmission path some unwanted voltage or noise is always present which cannot be eliminated fully.when signal is transmitted this noise gets added to the original signal causing the distortion of the signal.However in a digital communication at the receiving end this additive noise can be eliminated to great extent easily resulting in better recovery of actual signal. In the case of analog communication its difficult to remove the noise once added to the signal. 2. Security is the another priority of messaging the services in the modern days.The Digital communication provides better security to messages than the analog communication.It can be achieved through various coding techniques available in digital communication. 3. In a digital communication the signal is digitised to a stream of 0 s and 1 s. So at the receiver side a simple decision has to me made whether the received signal is a 0 or a 1.Accordingly the receiver circuit becomes simpler as compared to the analog receiver circuit. 4. When signal is travelling through its transmission path gets faded gradually. So on its path it needs to be reconstructed to its actual form and re-transmitted many times.For that reason AMPLIFIERS are used for analog communication and REPEATERS are used in digital communication.amplifiers are needed every 2 to 3 Kms apart where as repeaters are neede every 5 to 6 Kms apart.So definitely digital communication is cheaper.Amplifiers also often add non-linearities that distort the actual signal. 5. Bandwidth is another scarce resource.Various Digital communication techniques are available that use the available bandwidth much efficiently than analog communication techniques. 6. When audio and video signals are transmitted digitally an AD(Analog to Digital) converter is needed at tansmitting side and a DA(Digital to Analog) converter is again needed at receiver side.While transmitted in analog communication these devices are not needed. 7. Digital signals are often an approximation of the analog data(like voice or video) that is obtained through a process called quantisation. The digital representation is never the exact signal but its most closely approximated digital form.So its accuracy depends on the degree of approximation taken in quantisation process. Digital communication has several advantages over analog communication system. Some are explained below: 1. Analog circuits require amplifiers, and each amplifier adds distortion and noise to the signal. 2. In contrast, digital amplifiers regenerate an exact signal, eliminating cumulative errors. An incoming (analog) signal is sampled, its value is determined, and the node then generates a new signal from the bit value; the incoming signal is discarded. With analog circuits, intermediate nodes amplify the incoming signal, noise and all. 3. Voice, data, video, etc. can all by carried by digital circuits. What about carrying digital signals over analog circuit? The modem example shows the difficulties in carrying digital over analog.

Alfred Hitchcock :: Film Movie Movies Directors Essays

Alfred Hitchcock is among the few directors to combine a strong reputation for high-art film-making with great audience popularity. Throughout his career he gave his audiences more pleasure than could be asked for. The consistency of quality plot-lines and technical ingenuity earned him the recognition of being one of the greatest filmmakers of all time. His films earned him the reputation of being the "master of suspense", and after viewing two of his more popular films, Psycho and The Birds, it is evident why. There is a distinction between surprise, which lasts only a few seconds, and suspense which captivates one's attention the entire length of a film. This is something that Hitchcock realized early on, and applied into his movies. He is one of the few directors whose name on a marquee is as important, if not more so, than any actor who appears in the film itself. Both his style of directing, and that of the movies that he has directed are very unique, making him stand out in the film industry. He pioneered the art of cinematography and special effects, which along with his cameos, are what he is most often associated with. Hitchcock led a long and prosperous life in the movie industry, starting as a teenager and making movies up until his death in 1980, while working on the 54th of his career (Sterrit 3). Alfred Joseph Hitchcock was born on August 13, 1889 in London, England. As a child his parents were very strict with him and they imposed severe and unusual punishments upon him, as what they considered to be discipline. One of these incidents scarred him for life. As punishment for arriving home late one night, young Alfred's father had a policeman friend lock the boy up in a cell for five minutes, "in order to teach him where naughty little boys who come home after 9 o'clock would eventually end up." (Phillips 27). Throughout his career he used the innocent man being arrested and imprisoned in his films, and claimed that forever after he had a fear of the police (Spoto 16). Fear was also a big part of his childhood, which later was evident in many of his movies. "Fear? It has influenced my life and my career." (18) explains Hitchcock, he also had a fear of being alone and of darkness which once again appeared in many of his movies. "...fear you see is an emotion that people like to feel when they know they are safe." (39).

The arithmetic checks

The arithmetic checks must be done for all leveling calculations When establishing the heights of new Tabs and other important points, only BBS and FSP should be taken and the rise and fall method should be used. The HIP method of calculation can be much quicker when a lot of intermediate sights have been taken and it is a good method to use when mapping or setting out where many readings are often taken room a single instrument position. A disadvantage of the HIP method is that the check on reduced levels calculated from IS can be lengthy and there is a tendency for it to be omitted.Precision of leveling As with all techniques used in engineering surveying it is important to estimate how accuracy of the measurements taken. An assessment of the quality of leveling can be made by calculating the enclosure for a line of levels. This is determined by comparing the reduced level of the closing bench mark with the level obtained for it by calculation from the staff readings. On constructi on sites ND other engineering projects, leveling is usually carried out over short distances and it can involve a lot of instrument positions.The allowable enclosure for a line of levels is given by: Allowable enclosure = ? ± m n Where, m is a constant and n is the number of instrument positions used. The value most often used for m is mm When the enclosure obtained from staff readings is compared to the allowable enclosure, if miniscule is greater than the allowable value the leveling is rejected and must be repeated. If the enclosure is less than the allowable value the leveling s accepted and the leveling is adjusted. The value of m depends on the site conditions.For example if the levels found are to be used for earth work excavations m might be mom. For setting out steel and concrete structures excavations m might be mm. In some cases m is specified in the contract documents. Specifications for leveling are also given in: BOSSES: building setting out and measurement ICE Desig n and Practice Guide: The management of setting out in construction BOSSES: Guide to accuracy in building Sources of error in leveling There are three main groups of errors that can occur when leveling.The most common errors fall into one of the following groups: 1. Errors in the equipment 2. Field or on-site errors 3. The effects of curvature and refraction on leveling Errors in the equipment Collimation error This can be a serious error in leveling if the sight lengths from one instrument position are not types of leveling all types of leveling, sight lengths should be kept equal, particularly back sights and fore sights and before using any level it is advisable to carry out a two-peg test to ensure the collimation error is within acceptable limits.Compensator not working For an automatic or digital level, the compensator is hacked by moving a foot screw slightly off level, by tapping the telescope gently or by pushing the compensator check lever to ensure that a reading remains constant. If any of the checks fail then the compensator is not working properly and needs to be repaired. Parallax This effect must be eliminated before staff readings are taken. Defects of the staff The base of the staff should be checked to see if it has become worn – if this is the case then the staff has a zero error.This does not affect height differences if the same staff is used for all the leveling, but introduces errors if two tiffs are being used for the same series of levels. When using multi-section staff, it is important to ensure that it is properly extended by examining the graduations on the other side of each section as it is extended. If any of the sections become loose the staff should be returned for repair. Tripod defects The stability of tripods should be checked before any fieldwork commences by testing to see if the tripod head is secure and that the base of each leg are secure.Field or on-site errors Staff not vertical As the staff is used to measure a vertical difference between the ground and the plane of collimation, failure to hold he staff vertical will give an incorrect readings. Since the staff is held vertical with the aid of a vertical bubble, this should be checked at frequent intervals and adjusted if necessary. Unstable ground When the instrument is set up on soft ground and bituminous surfaces on hot days, an effect that is often overlooked is that the tripod legs may sink into the ground or rise slightly when the reading is being taken.This then will alter the height of collimation and it is advisable to choose firm ground on which to set up the level and the tripod, and to ensure that the tripod is pushed ell into the ground. Handling the instrument and tripod As well as the vertical displacement, the plane of collimation of a level may be altered for any set-up if the tripod is held or leant against. When leveling, avoid contact with the tripod and only use the level by light contact.Instrument not level For aut omatic and digital levels this source of error is unusual, but for a tilting level in which the tilting screw has to be adjusted for each reading, this is a common mistake. The best procedure here is to ensure that the main bubble is centralized before and after the reading is taken. Reading and cooking errors Many mistakes can be made during the booking of staff readings taken with an automatic or tilting level, and the general rule is that staff readings must be carefully entered into the leveling table or field book immediately after reading.Weather conditions In strong winds, a level can become unusable because the line of sight is always moving and it is also difficult to hold the staff steady. For these reasons, it is not possible to take reliable readings under these conditions which should be avoided when leveling. And other hard surfaces to ensure that the base of the staff remains at the same eight in between a back sight and fore sight. When the tripod is set up in soft g round or on tarmac on hot days it may sink into the ground or rise slightly when readings are taken.This alters the height of collimation and causes errors. Try to set the level up on firm ground and always push the tripod legs well into the ground. The height of collimation may be altered if the tripod is held or pressed down Do not lean on the level, If the tripod is knocked it is necessary to re-level the instrument and repeat all the readings taken from that instrument position. Marking or recording the session of each change point on a long line of levels is advisable. If this is not done and the tripod is knocked all of the leveling will have to be repeated.Curvature and refraction Over long distances level and horizontal lines through an instrument will diverge because level lines follow the curvature of the Earth. This is a possible source of error in leveling since all readings are taken along horizontal lines instead of level lines. The difference between a horizontal and level line is know as curvature and is given by c = 0. 0785 DO Where, c = curvature in meters, D = sighting distance in km The correction for length of sight of mom is less than 1 mm. This correction is ignored for most leveling. The effect of refraction of the line of sight is to bend it towards the Earth.This is also ignored in most leveling. Whatever sight lengths are used, the effects of curvature and refraction will cancel if the sight lengths are equal. How to Reduce the Chance of Errors Occurring Leveling should always start and finish at bench marks so that enclosures can be detected. When only one bench mark is available, leveling lines must be run in loops starting and finishing at the name bench mark Where possible, all sights lengths should be below 50 m. The staff must be held vertically by suitable use of a circular bubble or by rocking the staff and noting the minimum reading.BBS and FSP lengths should be kept equal for each instrument position. For engineering applic ations, many intermediate sights may be taken from each set- up – under these circumstances it is important that the level has no more than a small collimation error. For automatic and tilting levels, staff readings should be booked immediately after they are observed. Use a digital level where possible as it sakes staff readings automatically The rise and fall method of reduction should be used when weighting reference or control points and the HIP method should be used when setting out.Other leveling methods Inverted leveling This is a leveling technique that is used to obtain the heights of points above the line of sight such as ceilings and undersides of bridges. To obtain these, the staff is held upside down in an inverted position with its base on the elevated points. An inverted staff reading is booked in a level table procedure is followed taking into account the minus sign. Never use an inverted staff eating as a change point because it is difficult to keep the staff in the same place for more than one reading.Exam Question: Supplement 2006 SQ A client has asked for an as-constructed drawing of a recently built industrial building. As part of the survey the following series of levels are taken. Prepare a report for the client showing the reduced levels of the manhole inverts and the calculated gradients on the sewer lines, and the soft levels on the building gutters. Example 2 Lets repeat the reduced levels part of the previous exam question assuming we were asked to use the rise and fall method instead

Stock Exchange of Thailand

Table of Content | | History of SET| 1| Establishment of SET| 1| Vision & Mission| 1| Regulatory Framework of the Capital Market| 2| Operations| 3| Board of Governors| 3| Management| 4| SET’s Role| 5| Corporate Governance Center| 6| Products and Services| 6| Revenue Structure| 12| Financial Events that Affect SET| 12| SET and the World Stock Exchange| 15| SET and Asian Stock Exchanges| 16| Comparison of SET, SGX and NYSE| 17| Index Composition Comparison between SGX and SET| 18| Stock Index Comparison| 18| Future move of SETConclusion| 2022| Stock Exchange of Thailand History of the Stock Exchange of ThailandThe modern Thai Capital Market was started in 1961 when Thailand implemented its first five-year National Economic and Social Development Plan. It supports the promotion of economic growth and stability as well as develops the Kingdom's standard of living. After that, the Second National Economic and Social Development Plan (1967-1971) proposed to set up an orderly securit ies market in order to gather additional capital to support Thailand's industrialization and economic development. The modern Thai capital market can be divided into two phases, â€Å"The Bangkok Stock Exchange† which was privately owned and â€Å"The Securities Exchange of Thailand†.The BSE finally ceased operations in the early 1970s because of a lack of official government support and a limited investor understanding of the equity market Establishment of the Stock Exchange of Thailand Despite the failure of the BSE, the concept of an orderly security market had attracted a lot of Thai people attention. In 1969, as recommended by the World Bank, the government acquired the services of Professor Sidney M. Robbins from Columbia University to study the development channels of the Thai capital market.In 1972 the Government took a further step in this direction by improving the â€Å"Announcement of the Executive Council No. 58 on the Control of Commercial Undertakings A ffecting Public Safety and Welfare†. The changes were allowed Government to control more over the operations of finance and securities companies. After that, in 1974, â€Å"The Securities Exchange of Thailand† (SET) was enacted allowing the investment to save in the capital market. By 1975, the basic legislative framework was in place and the Securities Exchange of Thailand officially started trading.On January 1, 1991 its name was formally changed to â€Å"The Stock Exchange of Thailand† (SET). Vision Empowering business and investors through our strengths to match the right financial opportunities Mission Clients and Intermediaries â€Å"Expand business issuers and investor base by satisfying their financial needs and strengthening intermediaries for mutual growth and success† Products and Services â€Å"Offer a wide range of attractive products and services to create value and match financial opportunities across different segments of business and inve stors† Operations Operate with flawless execution according to international standards to ensure efficiency, effectiveness, flexibility and global connectivity† People and Culture â€Å"Inspire staff to perform up to their fullest potential and create a corporate culture that aims at achieving excellence in matching the right financial opportunities for business and investors† Regulatory Framework of the Capital Market The Securities and Exchange Act of 1992 (SEA), specified the Securities and Exchange Commission (SEC) as the regulator of the Thai Capital Market.While the SEC oversees the development of the Kingdom's capital market, the Bank of Thailand (BOT) is responsible for the country's money market. Primary Market The SEC looked over a company that wants to issue new securities, an initial public offering (IPO) or additional securities to the public. The company must first apply for SEC approval and comply with its filing requirements. Then, the SEC is requi red to review the financial status and operations of the company before allowing the firm to issue securities to the public. Secondary MarketSecurities may be traded in the secondary market once the issuer has applied for and been approval by the SET. Operations The Stock Exchange of Thailand is a juristic entity that was set up under the Securities Exchange of Thailand Act, B. E. 2517 (1974). Operations started on April 30, 1975. Its main operations include securities listing, supervision of listed companies and information disclosure, trading, market surveillance and member supervision, information dissemination and investor education. Moreover, its duty is to promote saving and long term financial planning for developing the economy.SET is a center for trading of listed securities without distributing any profit to members. Board of governors Regulatory Framework The SET Board of Governors is comprised of a maximum of eleven people, five of whom are appointed by the SEC, and five who are elected by SET members. The SET President, appointed by the Board, is an ex-officio member of the Board. The Board is also responsible for formulating the SET policies. Management The organizational chart of SET can be classified into two major parts which are Exchange Function and CMDF Function.Each function’s organizational structure can be seen below. | | SET's Role The Stock Exchange of Thailand has been continuously improved the management system of listed Thai companies to have good governance. SET was started to study about the roles  of audit committee in 1995 before the financial crisis. After that, it issued a listing requirement indicating that all listed companies have an audit committee in early 1998. In that year, the SET also issued a guideline namely â€Å"Code of Best Practices for Directors of Listed Companies† to be a guild role of audit committee.Two years later, the Good Corporate Governance Committee, consisting of representatives from a variety of professional organizations, disseminated a report on corporate governance which set a framework to be used by organizations in the Thai capital market for developing good corporate governance systems and practices. The Thai government designated the â€Å"Compass for Good Corporate Governance† and set up the National Corporate Governance Committee (NCGC). In the same year, SET also proposed fifteen principles of good corporate governance for listed companies to implement.The listed companies have to apply the fifteen principles and are required to demonstrate in their annual registration statement (Form 56-1) and annual reports starting from the accounting period ending December 31, 2002. In July 2002, the SET has established the Corporate Governance Center to help listed companies develop their corporate governance system. The Center provides consulting services to and exchanges ideas about corporate governance practices with directors and executives of listed c ompanies, as well as those of firms preparing to be listed companies.Corporate Governance Center Background The SET has established the Corporate Governance Center to support listed companies. It encourages the company to have good corporate governance and stakeholders include shareholders, suppliers, customers, creditors, employees, and the community etc. Corporate Governance Center builds to have confidence investment in Thai capital market which support the knowledge about corporate governance including the developing good corporate governance system and practices. . The Center of consulting service Giving advises and exchange idea about corporate governance practices with directors and executives of listed companies as well as those of firms preparing to be listed companies. 2. Corporate Governance Self Assessment Evaluation was followed by the rule of listing company 3. Producing and disseminating a variety of information and materials as guidelines. 4. Holding activities to he lp educate listed companies' directors and executives. Products and ServicesOne of the SET’s missions is to â€Å"Offer a wide range of attractive products and services to create value and match financial opportunities across different segments of business and investors. † SET has continuously developed new products and services and improved the system to satisfy needs of the investors. SET group supervises trading activities and market participants to ensure that the market is fair, orderly, and transparent. The products and services of SET are as following. Product The products that SET offers can be classified into 5 major categories; equities, bonds, derivatives, exchange-traded fund (ETF), and derivative warrants.The more details of each type are discussed as following. 1. Equities Equity trading is the trading of securities issued by public companies where shareholders have a direct stake in the company as well as the right to vote in shareholders’ meeting s. The secondary markets for equities trading are The Stock Exchange of Thailand (SET) and Market for Alternative Investment (MAI). Types of equities are ordinary shares, preferred share, warrants, unit trusts, non-voting depository receipt, and depository receipt (DR). SET and MAI are different in terms of the types of equities traded.On SET, investors can trade all types of equities, whereas on MAI preferred shares and depository receipt (DR) are not traded. Market for Alternative Investment or MAI was established in June 1999 in order to encourage the smaller firms with potential high growth and innovation. MAI serves as a new fund-raising source for such firms and new alternative investments for investors who are interested. The vision of MAI is â€Å"We strive to be the right and efficient exchange creating value for high potential, innovative and ventures companies in ASEAN. † The core values of MAI are to be focus, accountable, networking, zealous, and innovative. . Bo nds After a bond is issued and sold in the primary market, the bond can be electronically traded through Bond Electronic Exchange (BEX), where investors can buy and sell bonds. The market was first launched on November 26th, 2003, and its goal is â€Å"to develop all facets of the Thai bond market to reach an international standard, on par with other mature bond markets in the rest of the world†. 3. Derivatives Derivatives are traded through Thailand Futures Exchange or TFEX which was established on May 17th, 2004. TFEX play a big role in Thailand economy in stabilizing and sustaining financial market and corporates.Derivatives are used to protect companies from unanticipated change of underlying assets which might be the raw material of the company. In other words, TFEX allows investors to hedge their risk by utilizing derivative products. TFEX has continuously introduced new products to be traded on the market. Up to the present, TFEX has a total of 11 products in 5 categor ies, which are equity, interest rate, precious metal, energy, and currency. First category, equity derivatives have a total of 4 types, which are SET 50 Index Futures, SET 50 Index Options, Sector Index Futures, and Single Stock Future.Second, derivatives that are traded on interest rate are 3-Month BIBOR Futures, 6-Month THBFIX Futures, and 5-Year Government Bond Futures. Third, derivatives for precious metal are 10 Baht Gold Futures, 50 Baht Gold Futures, and Silver Futures. Forth, derivative on energy price is Brent Crude Oil Futures. Fifth, the currency derivative is USD Futures. 4. ETF Exchange-traded fund or ETF is an open-ended mutual fund which is traded on the stock exchange. Through brokers, ETF investors can buy and sell at any time during the trading hours at the prevailing price when the order is executed.The main difference between normal mutual funds and ETF is that mutual fund is normally traded via asset management company or a fund issuer at the end of the trading day while ETF has real-time NAV or Indicative NAV which is calculated throughout the trading hours. With the help of designated market maker or liquidity provider, it allows investors to trade at the market price at any time. ETF is a passive management fund since it basically invests in a basket of underlying stocks which can be SET 50 Index, a stock sector index, commodity index and commodity price such as gold price and oil price.Mostly, ETF is the replicate of a stock index, making the expense and management fee lower for ETF. In contrast, mutual fund is more active making the cost of management more expensive as well. 5. Derivative Warrants (DW) Derivative Warrants give the holder right to buy a stock or an underlying security at the pre-determined price within the stated period for certain quantity. The issuer of derivative warrant is a third party, not the issuer of the underlying securities. Warrants and Derivative Warrants are different in many aspects, as shown in the foll owing table Services 1. Information serviceDue to SET comprehensive, accurate and up-to-date source of Thai listed companies information, SET provides information service for customers who would like to access and disseminate trading or listed company information either with commercial or non-commercial purpose. Major customers of this service are member companies, data vendors, presses, academic institutes, mutual funds, governmental agencies and general investors. SET Information Service is classified into 3 categories; a. Datafeed (raw data for further application) b. SETSMART or SET Market Analysis and Reporting Tool c.IR website service for SET listed companies 2. Listing service on SET Companies that are interested in listing itself on SET have to meet many rules and regulations. Being a listed company gives the company many advantages. The company will have a larger source of long-term capital that is crucially important to enhance its operation, expansion and competitiveness . The company will obtain a better and positive public image due to its high standard and transparency giving the company with higher bargaining power and company’s credibility. Application fees| Initial fees| Annual fees| | THB 50,000| 0. 5% of paid-up capital ( With minimum and maximum of THB 100,000 – THB 3,000,000 )| Regressive rate varies with the level of paid up capital as follows:   | less than| THB 200 M. | at 0. 035 % of paid-up capital| THB 200 M. | < Capital