Monday, May 4, 2009

Brazil Forex


Brazil , Port. Brasil, officially Federative Republic of Brazil, republic (2005 est. pop. 186,113,000), 3,286,470 sq mi (8,511,965 sq km), E South America. By far the largest of the Latin American countries, Brazil occupies nearly half the continent of South America, stretching from the Guiana Highlands in the north, where it borders Venezuela, Guyana, Suriname, and French Guiana, to the plains of Uruguay, Paraguay, and Argentina in the south. In the west it spreads to the equatorial rain forest, bordering on Bolivia, Peru, and Colombia; in the east it juts far out into the Atlantic toward Africa. Brasília is the capital; the largest cities are São Paulo and Rio de Janeiro . Land Brazil's vast territory covers a great variety of land and climate, for although Brazil is mainly in the tropics (it is crossed by the equator in the north and by the Tropic of Capricorn in the south), the southern part of the great central upland is cool and yields the produce of temperate lands. Most of Brazil's large cities are on the Atlantic coast or the banks of the great rivers. The rain forests of the Amazon River basin occupy all the north and north central portions of Brazil. With the opening of the interior in the 1970s and 80s, these rain forests were heavily cut and burned for industrial purposes, farming, and grazing land. Beginning in the late 1980s, popular international movements, along with changes in government policy, began to reduce the rate of deforestation, but by the mid-1990s extensive burning was again occurring. New policies appeared to slow deforestation in the early 21st cent., but it reemerged as a significant problem in late 2007. The Amazon region includes the states of Amazonas , Pará , Acre , Amapá , Roraima , and Rondônia ; its chief city is Manaus . Although it is not as developed as other parts of Brazil, the Amazon region produces timber, rubber, and other forest products such as Brazil nuts and pharmaceutical plants. Gold mining, ecotourism, and fishing are also important. At the mouth of the Amazon is the city of Belém , chief port of N Brazil. Southeast of the Amazon mouth is the great seaward outthrust of Brazil, the region known as the Northeast. The states of Maranhão and Piauí form a transitional zone noted for its many babassu and carnauba palms. The Northeast proper—including the states of Ceará , Rio Grande do Norte , Paraíba , Pernambuco , Alagoas , Sergipe , and the northern part of Bahia —was the center of the great sugar culture that for centuries dominated Brazil. The Northeast has also contributed much to the literature and culture of Brazil. In these states the general pattern is a narrow coastal plain (formerly supporting the sugarcane plantations and now given over to diversified subtropical crops) and a semiarid interior, or sertão , subject to recurrent droughts. This region has been the object of vigorous reclamation efforts by the government. The "bulge" of Brazil reaches its turning point at the Cape of São Roque. To the northeast lie the islands of Fernando de Noronha , and to the south is the port of Natal . South of the "corner" of Brazil, the characteristic pattern of S Brazilian geography becomes notable: the narrow and interrupted coastal lowlands are bordered on the west by an escarpment, which in some places reaches the sea. Above the escarpment is the great Brazilian plateau, which tapers off in the southernmost state, Rio Grande do Sul, where it is succeeded by the plains of the Río de la Plata country. The escarpment itself appears from the sea as a mountain range, generally called the Serra do Mar [coast range], and the plateau is interrupted by mountainous regions, such as that in Bahia, which separates E Bahia from the valley of the São Francisco River. The chief cities of the Northeast are the ports of Recife in Pernambuco and Salvador in Bahia. There are a number of excellent harbors farther south: Vitória in Espírito Santo; Rio de Janeiro, the former capital, one of the most beautiful and most capacious harbors in the world; Santos , the port of São Paulo and the one of the greatest coffee ports in the world; and Pôrto Alegre in Rio Grande do Sul. In the east and southeast is the heavily populated region of Brazil—the states that in the 19th and 20th cent. received the bulk of European immigrants and took hegemony away from the old Northeast. The state of Rio de Janeiro , with the great steel center of Volta Redonda , is heavily industrialized. Neighboring São Paulo state has even more industry, as well as extensive agriculture. The city of São Paulo, on the plateau, has continued the vigorous and aggressive development that marked the region in the 17th and 18th cent., when the paulistas went out in the famed bandeiras (raids), searching for slaves and gold and opening the rugged interior. They were largely responsible for the development of the gold and diamond mines of Minas Gerais state, the second most populous state in Brazil, and for the building of its old mining center of Vila Rica ( Ouro Prêto ), succeeded by Belo Horizonte as capital. Minas has some of the finest iron reserves in the world, as well as other mineral wealth, and has become industrialized. Settlement also spread from São Paulo southward, particularly in the 19th and early 20th cent. when coffee from São Paulo's terra roxa [purple soil] had become the basis of Brazilian wealth, and coffee growing spread to Paraná . That state, in the west, runs out to the "corner" where Brazil, Argentina, and Paraguay meet at the natural marvel of the Iguaçu Falls on the Paraná River. The huge Itaipú Dam, built from the early 1970s through the mid-1990s by Paraguay and Brazil, provides power for most of southern Brazil. The more southern states of Santa Catarina and Rio Grande do Sul , developed to a large extent by German and Slavic immigrants, are primarily cattle-raising areas with increasing industrial importance. Frontier development is continuing in central Brazil. The state of Mato Grosso is still largely devoted to stock raising. The transcontinental railroad from Bolivia spans the southern part of the state. The federal district of Brasília was carved out of the neighboring plateau state of Goiás , to the east, and the national capital was transferred to the planned city of Brasília in 1960. People Brazil has the largest population in South America and is the fifth most populous country in the world. The people are diverse in origin, and Brazil often boasts that the new "race" of Brazilians is a successful amalgam of African, European, and indigenous strains, a claim that is truer in the social than the political or economic realm. More than half the population is of European descent, while another 40% are of mixed African and European ancestry. Portuguese is the official language and nearly universal; English is widely taught as a second language. Most of the estimated 350,000 to 550,000 indigenous peoples (chiefly of Tupí or Guaraní linguistic stock) are found in the rain forests of the Amazon River basin; 12% of Brazil's land has been set aside as indigenous areas. About 75% of the population is at least nominally Roman Catholic; there is a growing Protestant minority. Economy Brazil has one of the world's largest economies, with well-developed agricultural, mining, manufacturing, and service sectors. Vast disparities remain, however, in the country's distribution of land and wealth. Roughly one fifth of the workforce is involved in agriculture. The major commercial crops are coffee (Brazil is the world's largest producer and exporter), citrus fruit (especially juice oranges, of which Brazil also is the world's largest producer), soybeans, wheat, rice, corn, sugarcane, cocoa, cotton, tobacco, and bananas. Cattle, pigs, and sheep are the most numerous livestock, and Brazil is a major beef and poultry exporter. Timber is also important, although much is illegally harvested. Brazil has vast mineral wealth, including iron ore (it is the world's largest producer), tin, quartz, chrome ore, manganese, industrial diamonds, gem stones, gold, nickel, bauxite, uranium, and platinum. Recently discovered offshore petroleum and natural gas deposits could also make the nation a significant oil and gas producer. There is extensive food processing, and the leading manufacturing industries produce textiles, shoes, chemicals, steel, aircraft, motor vehicles and parts, and machinery. Most of Brazil's electricity comes from water power, and it possesses extensive untapped hydroelectric potential, particularly in the Amazon basin. In addition to coffee, Brazil's exports include transportation equipment, iron ore, soybeans, footwear, motor vehicles, concentrated orange juice, beef, and tropical hardwoods. Machinery, electrical and transportation equipment, chemical products, oil, and electronics are major imports. Most trade is with the United States, Argentina, China, and Germany. Brazil is a member of Mercosur . Government Brazil is governed under the 1988 constitution as amended. The president, who is elected by popular vote for a four-year term (and may serve two terms), is both head of state and head of government. There is a bicameral legislature consisting of an upper Federal Senate and a lower Chamber of Deputies. The 81 senators are elected for eight years and the 513 deputies are elected for four years. The president may unilaterally intervene in state affairs. Administratively, the country is divided into 26 states and one federal district (Brasília); each state has its own governor and legislature. The main political parties are the Brazilian Democratic Movement party, the Liberal Front party (now known as the Democrats party), the Democratic Labor party, the Brazilian Social Democracy party, and the Workers party. History Early History There is evidence suggesting possible human habitation in Brazil more than 30,000 years ago, and scholars have found artifacts, including cave paintings, that all agree date back at least 11,000 years. By the time Europeans arrived there was a relatively small indigenous population, but the archaeological record indicates that densely populated settlements had previously existed in some areas; smallpox and other European diseases are believed to have decimated these settlements prior to extensive European exploration. The indigenous peoples that survived can be classified into two main groups, a partially sedentary population that spoke the Tupian language and had similar cultural patterns, and those that moved from place to place in the vast land. It is estimated that approximately a million indigenous people were scattered throughout the territory. Whether or not Brazil was known to Portuguese navigators in the 15th cent. is still an unsolved problem, but the coast was visited by the Spanish mariner Vicente Yáñez Pinzón (see under Pinzón, Martín Alonso ) before the Portuguese under Pedro Alvares Cabral in 1500 claimed the land, which came within the Portuguese sphere as defined in the Treaty of Tordesillas (1494). Little was done to support the claim, but the name Brazil is thought to derive from the Portuguese word for the red color of brazilwood [ brasa =glowing coal], which the early visitors gathered. The indigenous people taught the explorers about the cultivation of corn, the construction of hammocks, and the use of dugout canoes. The first permanent settlement was not made until 1532, and that was at São Vicente in São Paulo. Development of the Northeast was begun about the same time under Martím Afonso de Sousa as first royal governor. Salvador was founded in 1539, and 12 captaincies were established, stretching inland from the Brazilian coast. Portuguese claims, somewhat lackadaisically administered, did not go unchallenged. French Huguenots established themselves (1555) on an island in Rio de Janeiro harbor and were routed in 1567 by a force under Mem de , who then founded the city of Rio de Janeiro. The Dutch made their first attack on Salvador (Bahia) in 1624, and in 1633 the vigorous Dutch West India Company was able to capture and hold not only Salvador and Recife but the whole of the Northeast; the region was ably ruled by John Maurice of Nassau . No aid was forthcoming from Portugal, which had been united with Spain in 1580 and did not regain its independence until 1640. It was a naval expedition from Rio itself that drove out the Dutch in 1654. The success of the colonists helped to build their self-confidence. Farther south, the bandeirantes from São Paulo had been trekking westward since the beginning of the 17th cent., thrusting far into Spanish territory and extending the western boundaries of Brazil, which were not delimited until the negotiations of the Brazilian diplomat Rio Branco in the late 19th and early 20th cent. The Portuguese also had ambitions to control the Banda Oriental (present Uruguay) and in the 18th cent. came into conflict with the Spanish there; the matter was not completely settled even by the independence of Uruguay in 1828. The sugar culture came to full flower in the Northeast, where the plantations were furnishing most of the sugar demanded by Europe. Unsuccessful at exploiting the natives for the backbreaking labor of the cane fields and sugar refineries, European colonists imported Africans in large numbers as slaves. Dependence on a one-crop economy was lessened by the development of the mines in the interior, particularly those of Minas Gerais, where gold was discovered late in the 17th cent. Mining towns sprang up, and Ouro Prêto became in the 18th cent. a major intellectual and artistic center, boasting such artists as the sculptor Aleijadinho . The center of development began to swing south, and Rio de Janeiro, increasingly important as an export center, supplanted Salvador as the capital of Brazil in 1763. Ripples from intellectual stirrings in Europe that preceded the French Revolution and the successful American Revolution brought on an abortive plot for independence among a small group of intellectuals in Minas; the plot was discovered and the leader, Tiradentes , was put to death. When Napoleon's forces invaded Portugal, the king of Portugal, John VI , fled (1807) to Brazil, and on his arrival (1808) in Rio de Janeiro that city became the capital of the Portuguese Empire. The ports of the colony were freed of mercantilist restrictions, and Brazil became a kingdom, of equal status with Portugal. In 1821 the king returned to Portugal, leaving his son behind as regent of Brazil. New policies by Portugal toward Brazil, tightening colonial restrictions, stirred up wide unrest. Independence and the Birth of Modern Brazil The young prince eventually acceded to popular sentiment, and advised by the Brazilian José Bonifácio , on Sept. 7, 1822, on the banks of the Ipiranga River, allegedly uttered the fateful cry of independence. He became Pedro I , emperor of Brazil. Pedro's rule, however, gradually kindled increasing discontent in Brazil, and in 1831 he had to abdicate in favor of his son, Pedro II . The reign of this popular emperor saw the foundation of modern Brazil. Ambitions directed toward the south were responsible for involving the country in the war (1851-52) against the Argentine dictator, Juan Manuel de Rosas, and again in the War of the Triple Alliance (1865-70) against Paraguay. Brazil drew little benefit from either; far more important were the rise of postwar discontent in the military and beginnings of the large-scale European immigration that was to make SE Brazil the economic heart of the nation. Railroads and roads were constructed, and today the region has an excellent transportation system. The plantation culture of the Northeast was already crumbling by the 1870s, and the growth of the movement to abolish slavery, spurred by such men as Antônio de Castro Alves and Joaquim Nabuco , threatened it even more. The slave trade had been abolished in 1850, and a law for gradual emancipation was passed in 1871. In 1888 while Pedro II was in Europe and his daughter Isabel was governing Brazil, slavery was completely abolished. The planters thereupon withdrew their support of the empire, enabling republican forces, aided by a military at odds with the emperor, to triumph. In 1889 the republic was established by a bloodless revolution, with Marshal Manuel Deodoro da Fonseca as its first president. The rivalry of the states and the power of the army in government, especially under Fonseca's unpopular Jacobinist successor, Marshal Floriando Peixoto , caused the political situation to remain uneasy. The expanding market for Brazilian coffee and more particularly the wild-rubber boom brought considerable wealth as the 19th cent. ended. Brazil in the Twentieth Century The creation of rubber plantations in Southeast Asia brought the wild-rubber boom to a halt and hurt the economy of the Amazon region after 1912. Brazil sided with the Allies in World War I, declaring war in Oct., 1917, and shared in the peace settlement, but later (1926) it withdrew from the League of Nations. Measures to reverse the country's growing economic dependence on coffee were taken by Getúlio Vargas , who came into power through a coup in 1930. By changing the constitution and establishing a type of corporative state he centralized government (the Estado Nôvo —new state) and began the forced development of basic industries and diversification of agriculture. His mild dictatorial rule, although it aroused opposition, reflected a new consciousness of nationality, which was expressed in the paintings of Cândido Portinari and the music of Heitor Villa-Lobos . World War II brought a new boom (chiefly in rubber and minerals) to Brazil, which joined the Allies in 1942, after coming close to backing Germany, and began taking a larger part in inter-American affairs. In 1945 the army forced Vargas to resign, and Gen. Eurico Gaspar Dutra was elected president. Brazil's economic growth was plagued by inflation, and this issue enabled Vargas to be elected in 1950. His second administration was marred by economic problems and political infighting, and in 1954 he committed suicide. Juscelino Kubitschek was elected president in 1955. Under Kubitschek the building of Brasília and an ambitious program of highway and dam construction were undertaken. The inflation problem persisted. On Apr. 21, 1960, Brasília became Brazil's official capital, signaling a new commitment to develop the interior of the country. In 1960 Jânio da Silva Quadros was elected by the greatest popular margin in Brazilian history, but his autocratic, unpredictable manner aroused great opposition and undermined his attempts at reform. He resigned within seven months. Vice President João Goulart was his successor. Goulart's leftist administration was weakened by political strife and seemingly insurmountable economic chaos, and in 1964 he was deposed by a military insurrection. Congress elected Gen. Castelo Branco to fill out his term. Goulart's supporters and other leftists were removed from power and influence throughout Brazil and, in 1965, the president's extraordinary powers were extended and all political parties were dissolved. A new constitution was adopted in 1967, and Marshall Costa e Silva succeeded Castelo Branco. In 1968, Costa e Silva recessed Congress and assumed one-man rule. In 1969, Gen. Emílio Garrastazú Médici succeeded Costa e Silva. Terrorism of the right and left became a feature of Brazilian life. The military police responded to guerrilla attacks with widespread torture and the formation of death squads to eradicate dissidents. This violence abated somewhat in the mid-1970s. Gen. Ernesto Geisel succeeded Médici as president in 1974. By this time, Brazil had become the world's largest debtor. In 1977 Geisel dismissed Congress and instituted a series of constitutional and electoral reforms, and in 1978 he repealed all emergency legislation. His successor, Gen. João Baptista de Oliveira Figueiredo , presided over a period (1979-85) of tremendous industrial development and increasing movement toward democracy. Despite these improvements, economic and social problems continued and the military maintained control of the government. Civilian government was restored in 1985 under José Sarney, and illiterate citizens were given the right to vote. Sarney's reforms were initially successful, but increasing inflation brought antigovernment protests. In 1988 a new constitution came into force, reducing the workweek and providing for freedom of assembly and the right to strike, and in 1990 President Fernando Collor de Mello was elected by popular vote. As a result of increasing international pressure, Collor sponsored programs to decrease the rate of deforestation in Amazon rain forests and to protect the autonomy of the indigenous Yanomami. In 1992, amid charges of wide-scale corruption within his government, Collor became the first elected president to be impeached by the Brazilian congress; he resigned as his trial began, to be replaced temporarily by his vice president, Itamar Augusto Franco. In 1994 the supreme court cleared Collor of corruption charges, but he was barred from public office until 2001. Fernando Henrique Cardoso was elected president in Oct., 1994, and took office in Jan., 1995. The Cardoso government reduced state controls on the economy and privatized government-owned businesses in telecommunications, oil, mining, and electricity. With the help of a new stable currency, Cardoso was able to bring inflation under control; he also signed decrees expropriating new lands from private estates for redistribution to the landless poor. Reelected in 1998, Cardoso was faced with an economic crisis as budget deficits and a decline in foreign exchange reserves led to currency devaluations and increased interest rates. Late in 1998, he appealed to the International Monetary Fund, which assembled a $42 billion aid package for the country. Brazil then began implementing a program of stringent economic policies that restored investor confidence by mid-1999 and led to economic growth. In May, 2000, Cardoso signed a fiscal responsibility law that limited spending by the states; the legislation was a result of fiscal crises in several Brazilian states. A series of corruption scandals that undermined the governing coalition in early 2001 was followed by an energy crisis that led the government to order widespread cuts in electrical consumption from May until Mar., 2002; the crisis resulted from a drought that reduced the water available to produce hydropower and a decade-long increase in the demand for electricity. Popular dissatisfaction with economic austerities helped fuel the election of Lula da Silva , of the opposition Workers' party (PT), to the presidency in 2002. Da Silva's subsequent inauguration also marked the increasing stability of Brazilian democracy; it was the first transfer of power between elected presidents since 1961. The new president did not deviate greatly from his predecessor's economic program, however, which alienated many supporters on the left. Da Silva's government was hurt by a campaign finance scandal in early 2004 and by an increase in unemployment, and suffered losses in popular and congressional support, although economic growth in 2004 was strong and unemployment subsequently decreased. In June, 2005, the president was further hurt PT officials were accused of buying the votes of some of its congressional coalition members. The charges, made by the leader of a party in coalition with the president, led to the resignation of the president's chief of staff (who was expelled from the congress late in the year) and of the Workers' party leader and treasurer and forced the president to reshuffle his cabinet to shore up coalition support for his government. A separate bribery scandal led to the resignation of the speaker of the House in September, and in Mar., 2006, the finance minister resigned when he also was ensnared in a bribery scandal. Although the president weathered the scandals, they led to the sidetracking of social-reform legislation he had proposed. Meanwhile, Amazonas state was hit by a severe drought in 2005 when the dry season saw much less rainfall than usual. A weeklong outbreak of rampant gang violence and, in turn, police vengeance against the gangs erupted in mid-May, 2006, in São Paulo state when a gang sought revenge for a government attempt to break the influence of its imprisoned leaders and members. The violence exposed a variety of ills in Brazil criminal justice system, including corruption in the prisons and lawlessness among the police. São Paulo experienced outbreaks of criminal gang violence in July and August as well, and Rio de Janeiro experienced a series of gang attacks in late December. The 2006 presidential election, in October, was inconclusive after the first round. Da Silva won a plurality, but failed to win the required majority; his campaign was hurt by the corruption scandals that affected the PT and a late-breaking dirty-tricks scandal involving his campaign organization. The runner-up, Geraldo Alckmin, the former governor of São Paulo state, saw his campaign hurt by the recent violence in the state. In the runoff at the end of the month, da Silva won handily, securing 60% of the vote. Corruption scandals continued to make news in 2007. The most prominent new cases occurred in May, when the energy minister resigned after corruption allegations against him became public and a major Brazilian newsmagazine reported that the Senate president had taken payoffs; toward the end of the year the Senate president resigned, though he remained a senator. In August, the supreme court voted to charge da Silva's former chief of staff and the former Workers' party treasurer with corruption. In Jan., 2008, Brazil became a net creditor nation, in large part due to debt-reduction measures undertaken by da Silva's government. Bibliography See G. Freyre, Order and Progress; Brazil from Monarchy to Republic (tr. 1970); F. de Azevedo, Brazilian Culture (tr. 1950, repr. 1971); E. B. Burns, A History of Brazil (2d ed. 1980); P. McDonough, Power and Ideology in Brazil (1981); T. C. Bruneau, The Church in Brazil: The Politics of Religion (1982); P. S. Falk and D. V. Fleischer, Brazil's Economic and Political Future (1988); R. P. Guirmaraes, Politics and Environment in Brazil (1991).

Cyprus Forex


A currency is a unit of exchange, facilitating the transfer of goods and services. It is one form of money, where money is anything that serves as a medium of exchange, a store of value, and a standard of value. Historically, currencies have developed items considered valuable such as shells, or cattle, to the use of precious metals first in forms such as ingots and later coins, and then to credit and paper money. Fiat money removes the concept of money as a commodity, guaranteeing that it has the value stated on it. There are also privately issued currencies that may be redeemed only by those who produce them.
In most cases, each country has monopoly control over the supply and production of its own currency, usually through a central bank. Member countries of the European Union's Economic and Monetary Union are a notable exception to this rule, as they have ceded control of monetary policy to the European Central Bank and accept the Euro as their common currency.
Although the United States dollar has been the de facto world currency, the possibility of developing an official world currency has come under discussion. Such a currency would be supported by a central bank for all transactions around the world, a step towards a more unified global society.

Egypt Forex


Egypt, officially known as the Arab Republic of Egypt, is a country in North Africa that includes the Sinai Peninsula, a land bridge to Asia. Covering an area of about 1,001,450 square kilometers (386,660 sq mi), Egypt borders Libya to the west, Sudan to the south and the Gaza Strip and Israel to the east. Its northern coast borders the Mediterranean Sea; the eastern coast borders the Red Sea.
Egypt is one of the most populous countries in Africa. The great majority of its estimated 80 million people (2007) live near the banks of the Nile River, in an area of about 40,000 square kilometers (15,000 sq mi), where the only arable agricultural land is found. The large areas of the Sahara Desert are sparsely inhabited. About half of Egypt's residents live in the densely-populated centres of greater Cairo, Alexandria and other major cities in the Nile Delta.
Egypt is famous for its ancient civilization and some of the world's most famous monuments, including the Giza pyramid complex and its Great Sphinx. The southern city of Luxor contains numerous ancient artefacts, such as the Karnak Temple and the Valley of the Kings. Egypt is widely regarded as an important political and cultural nation of the Middle East.

Denmark Forex


Forex is a Swedish financial services company. The company was started in 1927 as a currency exchange service for travellers, at the Central Station in Stockholm. The owner of Gyllenspet's Barber Shop, according to the legend, discovered that most of his customers were tourists in need of currency for their trips. So he started keeping the major currencies on hand.
The company was subsequently acquired by Statens Järnvägar, the Swedish State Railways, which expanded the operations until it was sold off to one of the managers, Rolf Friberg, in 1965. The company was the only one apart from the banks that was licensed to conduct currency exchange in Sweden.
The company, which is still wholly owned by the Friberg family, has expanded into Denmark and Finland and has over 50 shops, usually located at train stations or airports. The decrease in the business brought on by introduction of the Euro has made the company look for alternative sources of revenue, like applying for a banking license and attempting to move into more regular transaction services, earlier handled by the Swedish postal service.

Norway Forex


Forex AB is a Swedish financial services company. The company was started in 1927 as a currency exchange service for travellers, at the Central Station in Stockholm. The owner of Gyllenspet's Barber Shop, according to the legend, discovered that most of his customers were tourists in need of currency for their trips. The owner began keeping the major currencies on hand.
The company was subsequently acquired by Statens Järnvägar (SJ), the Swedish State Railways, which expanded the operations until it was sold off to one of the managers, Rolf Friberg, in 1965. The company was the only one apart from the banks that was licensed to conduct currency exchange in Sweden.
The company, which is still wholly owned by the Friberg family, has expanded into Denmark, Finland, Norway and Iceland and has over 60 shops, usually located at train stations or airports. The decrease in the business brought on by introduction of the euro has made the company look for alternative sources of revenue, like applying for a banking licence and attempting to move into more regular transaction services, earlier handled by Svensk Kassaservice, a subsidiary of the state owned Swedish postal company, Posten.
Since 2003 Forex is a licensed bank.

Bhutan Forex


Bhutan, officially known as the Kingdom of Bhutan is a landlocked nation in South Asia. It is located amidst the eastern end of the Himalaya Mountains and is bordered to the south, east and west by India and to the north by China. Bhutan is separated from Nepal by the Indian state of Sikkim. The Bhutanese call their country Druk Yul (land of the thunder dragon).[1]
Bhutan is one of the most isolated and least developed nations in the world.[citation needed] Foreign influences and tourism are regulated by the government to preserve the nation's traditional culture, identity and the environment, however, in 2006 Business Week rated Bhutan the happiest country in Asia and the eighth happiest country in the world.[2] The landscape ranges from subtropical plains in the south to the Himalayan heights in the north, with some peaks exceeding 7,000 metres (23,000 ft). The state religion is Vajrayana Buddhism, and the population is predominantly Buddhist, with Hinduism being the second-largest religion. The capital and largest city is Thimphu. After centuries of direct monarchic rule, Bhutan held its first democratic elections in March 2008. Bhutan is a member of the South Asian Association for Regional Cooperation (SAARC).

Kenya Forex



Kenya, officially the Republic of Kenya, is a country in East Africa. It is bordered by Ethiopia to the north, Somalia to the east, Tanzania to the south, Uganda to the west, and Sudan to the northwest, with the Indian Ocean running along the southeast border. The country is named after Mount Kenya, a very significant landmark,[1][2] and both were originally usually pronounced ˈkiːnjə[3] in English although the native pronunciation and the one intended by the original transcription Kenia was ˈkenia.[4] During the presidency of Jomo Kenyatta in the 1960s, the current pronunciation ˈkɛnjə became widespread in English too because his name was pronounced according to the original native pronunciation.[5] Before 1920, the area now known as Kenya was known as the British East Africa Protectorate and so there was no need to mention mount when referring to the mountain

Australia Forex

The foreign exchange market (Currency, Forex, or FX) market is where currency trading takes place. It is where banks and other official institutions facilitate the buying and selling of foreign currencies. [1]FX transactions typically involve one party purchasing a quantity of one currency in exchange for paying a quantity of another. The foreign exchange market that we see today started evolving during the 1970s when worldover countries gradually switched to floating exchange rate from their erstwhile exchange rate regime, which remained fixed as per the Bretton Woods system till 1971.
Today, the FX market is one of the largest and most liquid financial markets in the world, and includes trading between large banks, central banks, currency speculators, corporations, governments, and other institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Traditional daily turnover was reported to be over US$3.2 trillion in April 2007 by the Bank for International Settlements.[2] Since then, the market has continued to grow. According to Euromoney's annual FX Poll, volumes grew a further 41% between 2007 and 2008.[3]
The purpose of FX market is to facilitate trade and investment. The need for a foreign exchange market arises because of the presence of multifarious international currencies such as US Dollar, Pound Sterling, etc., and the need for trading in such currencies.

Switzerlan Forex

In financial markets, the retail forex (retail off-exchange currency trading or retail FX) market is a subset of the larger foreign exchange market. This "market has long been plagued by swindlers preying on the gullible," according to The New York Times[1]. Whilst there may be a number of fully regulated, reputable international companies that provide a highly transparent and honest service, it's commonly thought that about 90% of all retail FX traders lose money. [2] [3]
It is now possible to trade cash FX, or forex (short for Foreign Exchange (FX)) or currencies around the clock with hundreds of foreign exchange brokers through trading platforms. The reason that the business is so profitable is because in many cases brokers are taking the opposite side of the trade, and therefore turning client capital directly into broker profit as the average account loses money. Some brokers provide a matching service, charging a commission instead of taking the opposite site of the trade and "netting the spread", as it is referred to within the forex "industry."
Recently forex brokers have become increasingly regulated. Minimum capital requirements of US$20m now apply in the US, as well as stringent requirements now in Germany and the United Kingdom. Switzlerand now requires forex brokers to become a bank before conducting fx brokerage business from Switzerland.[citation needed]
Algorythmic or machine based formula trading has become increasingly popular in the FX market,with a number of popular packages allowing the customer to program his own studies.
The most traded of the "major" currencies is the pair known as the EUR/USD, due to its size, median volatility and relatively low "spread", referring to the difference between the bid and the ask price. This is usually measured in "pips", normally 1/100 of a full point.[citation needed]
According to the October 2008 issue of e-Forex Magazine, the retail FX market is seeing continued explosive growth despite, and perhaps because of, losses in other markets like global equities in 2008.

Spain Forex



Gentili, Alberico
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(älbārē´kō jāntē´lē) , 1552—1608, Italian writer on international law. Forced to leave Italy because of his Protestantism, he went to England (1580), where he became regius professor of civil law, Oxford, and in 1605 became advocate for the king of Spain in the British admiralty court. His De legationibus (1585) had a great influence in shaping modern diplomatic practice. In De jure belli [on the law of war] (1598), one of the earliest works on international law, he developed many ideas on the legal conduct of war to which Hugo Grotius later gave wider circulation.

London Forex



The foreign exchange market (Currency, Forex, or FX) market is where currency trading takes place. It is where banks and other official institutions facilitate the buying and selling of foreign currencies. [1]FX transactions typically involve one party purchasing a quantity of one currency in exchange for paying a quantity of another. The foreign exchange market that we see today started evolving during the 1970s when worldover countries gradually switched to floating exchange rate from their erstwhile exchange rate regime, which remained fixed as per the Bretton Woods system till 1971.
Today, the FX market is one of the largest and most liquid financial markets in the world, and includes trading between large banks, central banks, currency speculators, corporations, governments, and other institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Traditional daily turnover was reported to be over US$3.2 trillion in April 2007 by the Bank for International Settlements.[2] Since then, the market has continued to grow. According to Euromoney's annual FX Poll, volumes grew a further 41% between 2007 and 2008.[3]
The purpose of FX market is to facilitate trade and investment. The need for a foreign exchange market arises because of the presence of multifarious international currencies such as US Dollar, Pound Sterling, etc., and the need for trading in such currencies.

France Forex



French RevolutionThe decimal "franc" was established as the national currency by the French Revolutionary Convention in 1795 as a decimal unit (1 franc = 10 decimes = 100 centimes) of 4.5 g of fine silver. This was slightly less than the livre of 4.505 g but the franc was set in 1796 at 1.0125 livres (1 livre, 3 deniers), reflecting in part the past minting of sub-standard coins.
However the circulation of this metallic currency declined during the Republic that exchanged the old gold and silver reserves (needed to finance wars and try to solve the shortage of food supplies by importing them) against printed assignats, initially designed as bonds based on the value of the confiscated goods of churches, but later declared as legal tendercurrency. Too many assignats were put in circulation (by largely overevaluating the value of the "national properties"), and the silver franc rarefied to pay foreign providers, and the unpaid governmental national debt caused decreasing trust in this secondary unit, shortage of silver supplies for producing metallized francs, hyperinflation, even more food riots in the population, and severe political instability and termination of the First French Republic (the political fall of the French Convention, the economic failure of the Directoire that replaced it, then a coup d'état that lead to the Consulate during which only the first Consul progressively gained all the legislative powers against the other unstable and discredited consultative or legislative institutions).

Germany Forex

The Deutsche Mark (DEM, DM) or German mark was the official currency of West Germany and, from 1990 until the adoption of the euro, all of unified Germany. It was first issued under Allied occupation in 1948 replacing the Reichsmark, and served as the Federal Republic of Germany's official currency from its founding the following year until 1999, when the Mark was replaced by the euro; its coins and banknotes remained in circulation, defined in terms of euros, until the introduction of euro notes and coins in early 2002. The Deutsche Mark ceased to be legal tender immediately upon the introduction of the euro—in contrast to the other eurozone nations, where the euro and legacy currency circulated side by side for up to two months. However, DM coins and banknotes continued to be accepted as valid forms of payment in Germany until 28 February 2002.
The Deutsche Bundesbank has guaranteed that all DM in cash form may be changed into euros indefinitely, and one may do so at any branch of the Bundesbank and banks worldwide. From time to time, some merchants hold promotions where Deutsche Marks are accepted as payment.
On 31 December 1998, the European Central Bank (ECB) fixed the irrevocable exchange rate, effective 1 January 1999, for DM to euro as DM 1.95583 = one euro.[1]
One Deutsche Mark was divided into 100 Pfennig.

USA Forex


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