International customary law grants a host of privileges and immunities to diplomatic mission. They are laid down in the Vienna Convention on Diplomatic Relations, of 1961.
Privileges and immunities of the diplomatic missions:
- Freedom of use of national symbols and flags on the premises, cars
- premises of DM are inviolable (agents of receiving State are not entitled to enter without consent of head of mission; must be protected against intrusion or damage, disturbance of peace, impairment of dignity)
- The premises of the mission, their furnishings and other property and the means of transport of the mission shall be immune from search, requisition, attachment or execution
- archives are inviolable (R state permit and protect free communication, official correspondence, diplomatic bags-not opened or detained, diplomatic couriers-personal inviolability)
The R state shall accord full facilities for the performance of the functions of the mission.
By way of Quid pro quo members of d.m. owe duties towards the receiving State:
- to respect the law
- premises must not be used in any manner incompatible with the functions of the mission
2. . . (NASDAQ, NYSE, Dow Jones Industrial Average).
Stock exchange place where stocks, shares, debentures and other bonds are bought and sold.
Stockbroker dealer in stocks and shares, trading has to be done through them (ordinary people are not allowed to deal on Stock Exchange).
Stock selling process:
- person with money to invest approaches stockbroker (directly, through bank manager or solicitor)
- stockbroker advises type and quantity of shares to buy
- client pays brokers comission and government stamp duty in addition to share cost
- broker charges commission of ½-1½ per cent (depending on amount of money involved)
- broker goes to the floor of the Stock Exchange
- approaches jobbers (who buy and sell shares)trying to get the lowest price for his clients shares
- broker gives the shares as a certificate to the client, he holds his share and gets dividends
Factors affecting share prices:
- companys profits
- board of directors policies
- government policies
- taxes
- labour strikes
- unemployment
- general market level rising
- takeover or merger prospects
- world affairs
Speculators people active in buying and selling shares on the stock market:
- bulls buy shares expecting prices to rise
- bears sell shares expecting prices to fall
- stags buy newly issued shares in the expectation that prices will rise, then sell them on in the hope of making a quick profit
Share index representative group of shares chosen as a barometer of the movement of the market as a whole:
- FTSE 100 the 100 largest companies listed on the British stock exchange.
- NIKKEI 300 the top 300 shares on the Japanese stock market.
- Dow Jones Industrial Average 30 leading industrial companies in the US
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- NASDAQ the largest electronic screen-based equity securities trading market in the USA
- NYSE the worlds largest stock exchange by market capitalization (New York, USA)
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1. : .
2. : /. . - . .
Import buying from abroad, export selling abroad.
Invisible import/export goods, visible export/import services.
Balance of trade the difference between the monetary value of exports and imports of output in an economy over a certain period. Trade surplus = E > I, trade deficit = E < I.
Secrets of successful exporting:
- understanding the needs of the customer
o understanding the difference in requirements of customers
o understand the market and adapt the products
- using the services of an export specialist
o selecting own agents(specialists in export) to represent the firm
o carrying out own research
- proper communication and documents preparation
o build up network of contacts (key to getting started rely on the fax, phone, e-mail)
o then you can maintain communication with partners in more sophisticated manner
o be familiar with all the paperwork in int.transactions especially with letters of credit prepared carefully, checked reduce the risk
- getting the right information
o info about law and international finance
o study the market, who is your target audience (plenty of ways to find that out - chamber of commerce, trade shows, find people who have the knowledge that u need)
