The Silk Road from China to India Over many centuries two vast regions of Asian continent – China and India have been seeking after mutually beneficial trade relations. The great mountainous system of Hindukush‚ which latitudinally stretches from India for almost 800 kilometres‚ the Tibetan Upland in south-western part of China‚ which is surrounded by the mountain systems of the Himalayas and the Karakorum‚ upland plains and the Tien-Shan mountains in the western and north-western parts
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Shanghai Cooperation Organization is not an anti-Western alliance The Shanghai Cooperation Organization (SCO)‚ after more than a decade since its inception‚ merits increasing attentions from the world and meanwhile different explanations of the objective and main agenda of this organization are heatedly debated and evaluated. One of them is the sensational argument that it is an anti-Western alliance which reflects a reasonable suspicion given China and Russia’s leading role in it. However‚ it
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financial crisis like that of 1997. Banking system The Banking system of Malaysia comprises the central bank of Malaysia‚ Bank Negara Malaysia‚ 33 licensed commercial banks‚ 2 Islamic banks‚ 23 finance companies‚ 7 Discount Houses‚ and 12 merchant banks. The banking system of Malaysia is divided into monetary and non-monetary institutions. For the monetary institution‚ it includes the central bank‚ commercial banks and the Islamic banks. Other banks are considered as the non- monetary institutions
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Rate Channel in Sri Lanka 1. Introduction Monetary policy comprises the rules and actions adopted by the central banks to achieve their objectives. In most countries the primary objective of the monetary policy is price stability. The Central Bank of Sri Lanka (CBSL) has two core objectives: (1) maintaining price and economic stability and (2) maintaining financial system stability (Central Bank of Sri Lanka 2012‚ ‘About the Bank’‚ para. 1). To attain the objective of price stability‚ the CBSL formulates
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Sentral ng Pilipinas is the central bank of the Philippines. It was rechartered on July 3‚ 1993‚ pursuant to the provision of the 1987 Philippine Constitution and the New Central Bank Act of 1993. The BSP was established on January 3‚ 1949‚ as the country’s central monetary authority. A group of Filipinos had conceptualized a central bank for the Philippines as early as 1933. It came up with the rudiments of a bill for the establishment of a central bank for the country after a
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and the Second World War (WWII) was fought from 1939 to 1945. The First World War was fought between the Allies and the Central Powers. The Allies were the countries who fought in the side of the Triple Entente whereas the Central Powers were those on the side of the Triple Alliance. The war spread throughout Europe and into the Far East. With the defeat of the Central Powers‚ the war finally came into an end in 1918. The First World War had not really became truly a world war to the extent
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92 Revista Informatica Economică nr.3(47)/2008 A Study Looking the Electronic Funds Transfer Codruţa POENAR Department of Economics Informatics Faculty of Economics and Business Administration Babeş-Bolyai University‚ Cluj-Napoca‚ România cpoenaru@webmail.econ.ubbcluj.ro The aim of this paper is to present the characteristics of the most important electronic funds transfer in the world‚ both interperson and interbank. We identified the following informations: location‚ type‚ owner‚ operator
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Impact of fiscal and monetary policy on the economy Economic stability is the most important thing for any county in the world. Central banks‚ Governments often intervene in their economies in an attempt to maintain the economic stability. So to maintain the economic stability‚ fiscal and monetary policies plays a major role in it. In most of the economies the objective of fiscal policy is to increase the output of the country while the monetary policy deals with the control of interest and inflation
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End the Federal Reserve The Federal Reserve System‚ also known as the central banking system of the United States‚ was created in 1913 through the Federal Reserve Act. It was a direct result of the economic panic that had set in on 1907. This centralized banking system has ruled our nation’s monetary system for almost a century now‚ and ironically the value has gradually become less and less over time. According to the Consumer Price Index‚ in 2008 it took $21.57 to purchase what $1 could purchase
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’Foreign Exchange Market’ The markets in which participants are able to buy‚ sell‚ exchange and speculate on currencies. Foreign exchange markets are made up of banks‚ commercial companies‚ central banks‚ investment management firms‚ hedge funds‚ and retail forex brokers and investors. The forex market is considered to be the largest financial market in the world. It is important to realize that the foreign exchange market is not a single exchange‚ but is constructed of a global network of computers
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