Professional Documents
Culture Documents
I. Speaking
Answer the following questions:
a) What do you know about sealing a business?
b) Are you acquainted with any profitable partnerships signed
in Romania?
II. Scan the article below and answer the questions:
1. What is the objective of the partnership sealed between the
Romanian and the Chinese business people?
2. What will be the contribution of each of the two parties?
3. How much is the construction of the new complex worth?
New business sealed in China
The Romanian business people that visited China have
concluded1 a series of partnerships with their Chinese
counterparts and signed a few export contracts. Pharmaser
Piteti will therefore build a drugmaking complex2 worth $10
million, while the Chinese party will contribute the
production licence3. The Chinese business people will also
1
IV. Fill in the blanks with one suitable word or phrase from the
box below:
complex
production line
production licence
apparel
counterpart
to contribute
to be in the picture
to have an open mind
to account for
on the surface
to throw light on
1. Creterea preurilor la aceste produse poate fi explicat
prin scderea continu a rezervelor de petrol.
2. Eu zic s mai recapitulm o data toate problemele s fim
siguri ca avei o imagine clar asupra situaiei.
3. Este foarte important pentru un om de afaceri s fie
receptiv la idei noi.
4. Directorul executiv a fost foarte amabil s ne lmureasc o
problem legat de contract.
5. La prima vedere contractul poate prea profitabil. Citete
cu atenie toate clauzele.
IX. Follow-up
Turn into English:
Compania Meckel Trading din Elveia, acionar majoritar la
compania productoare de oel COS din Trgovite, va furniza
uzinei romneti materii prime n valoare de 10 milioane dolari
i va achiziiona produse COS n valoare de 15 milioane dolari.
Cele dou contracte semnate la nceputul acestei luni se vor
derula pna la sfritul acestui an.
Conform unei alte nelegeri cu Meckel Trading, COS va livra
pna la sfritul anului n curs produse n valoare de peste 5.5
milioane dolari.
UNIT TWO
I. Speaking
Answer the following questions:
a) What are the means of increasing production capacity in a
company?
b) Can companies afford loans? Give arguments.
II. Scan the article below and answer the following questions:
1. What will be the result of the six million-dollar
investment?
2. Were the companys revenues in 2003 higher than in 2002?
Why?
3. What is the general managers opinion on the companys
results in 2003?
to increase to grow
6
shares
revenues
VI. Now read the fragment carefully and turn it into Romanian.
VII. Turn the sentences below into English:
1. mi pare nespus de ru c te deranjez dar am mare nevoie
de aceast informaie.
2. Veniturile companiei noastre sunt mai sczute dect cele de
anul trecut.
3. Informaiile au ajuns la urechile directorului executiv care
a convocat imediat o edin.
4. Membrii consiliului de administraie l ateapt pe
preedinte de mai bine de o or dar acesta nu a ajuns nc
n sala de edine.
5. Consiliul de administraie a respins propunerea directorului
de a mai angaja nca zece persoane.
6. V invitm s ne vizitai la sediul companiei noastre care
este situat n centrul oraului.
7. Aceast fabric a fost construit pe locul unde a fost odat
un parc.
8. Dac datele tale nu corespund cu ale noastre, nu vom putea
ajunge la un consens.
9. Cine ar fi crezut ca judectorul va cere s i se plteasc
despgubiri?
10. Aceste fenomene ale naturii ne vor influena transmisiile
iar clienii vor fi foarte nemulumii.
VIII. Five useful idioms in business English:
Turn the following sentences into English using the idioms in
the box:
10
UNIT THREE
I. Speaking
Answer the following questions:
a) Which is better: a large firm or a small one? Give
arguments.
b) Why is it that so many industries are dominated by a few
large firms?
II. Read the following excerpt and answer these questions:
1. Is it advisable for a firm to manufacture one product?
Why?
2. Which is cheaper: developing a product and selling a large
amount of it or developing a product and selling a smaller
quantity of it?
sales, the less the cost that has to be recovered from each sold
unit4. [] With the enormous development costs5 of some of
todays high-tech products, firms that can sell a large volume
have a distinctive advantage over firms that sell a smaller
volume. It is costly to enter a market, to establish a sales
force6, and to make consumers aware of the product. These
costs are nearly as high when a small volume is marketed 7as
when a large volume is marketed. Thus, the smaller the volume
of a firms sales, the higher the price must be if the firm is to
cover8 all of these costs.
(Chrystal, K.A., Lipsey, R.G. Economics for business and
Management, OUP, New York, 1997, p.249)
III. Identify the suitable items in the text, which may replace
the words in italics:
1. It is easier to recuperate the development costs if the sales
are significant.
2. Developing a new product may be expensive if sales are
not sufficient.
3. The profit increases with each sold item.
4. When a new product has been developed, it is advertised in
order to make the public aware of its existence.
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14
15
16
18
19
20
III. Turn into English using the idioms studied in the first three
units:
1. Eti bun s-mi explici i mie aceast clauz din contract?
2. Ca s nu mai lungim vorba, ar fi bine ca pe viitor s ne
organizm mai bine pentru a putea fi mai eficieni.
3. Dac nu-i rezolv divergenele cu colegii, m tem c va
trebui s renunm la serviciile lui.
4. n aparen profitul firmei nu a crescut n ultimele dou
luni. Totui, n aceast perioad firma a sponsorizat cteva
coli din ora.
5. Eu sunt cel care a venit cu propunerea i tot eu sunt cel
care ar trebui s suporte consecinele.
6. Studenii ar trebui testai pentru a putea fi siguri c au
neles tot ceea ce le-a fost explicat.
7. Lucreaz de mai bine de zece ore fr ntrerupere i tot nu
a reuit s termine ceea ce i-am cerut. Poate c nti de
toate ar fi bine s-i stabileasc prioritaile.
8. Compania ncearc fr succes de mai bine de dou luni s
achiziioneze o nou linie de producie. i pe deasupra nici
partenerii strini nu vor s-i acorde licena de producie.
9. Dei pe termen scurt aceast investiie nu reprezint mare
lucru, sunt sigur c pe termen lung profitul va crete n
mod substanial.
10. Dup ce au discutat n contradictoriu mai multe ore n ir
au constatat c, indiferent ce avantaje financiare le va
aduce proiectul, cel mai important lucru era c lucreaz
mpreun.
11. Acoperirea cheltuielilor de producie este doar nceputul.
Compania mai are de recuperat multe pierderi.
12. Lucrez n aceast fabric de aproape zece ani i simt c
acest serviciu nu-mi mai ofer nici o perspectiv.
21
24
UNIT FIVE
I. Speaking:
Answer the following questions:
a) What are the means of funding modernization works in a
company?
b) What institutions are entitled to guarantee for a loan?
II. Scan the following article and answer these questions:
1. Who will finance the modernization project for the
Prahova-based plant?
2. How much of the cost of the operation will be covered by
the loan?
3. Who will carry out the modernization works?
to conclude to end
letter of guarantee a letter issued to serve as a guarantee for payments to
another person or company
4
installment a sum of money due as one of a number of equal payments
for something
5
to cover to be enough for
6
to perform to carry out
3
26
IV. Fill in the blanks with one of the words or phrases in the
box below.
modernization works
installment
loan
letter of guarantee
consortium
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28
29
30
UNIT SIX
I. Speaking
Answer the questions below:
1. Name several means of saving money.
2. What are the advantages and disadvantages of saving
money?
II. Scan this article and answer the questions:
1. What is the daily average operations volume of an exchage
office?
2. What are the banks officials interested in?
3. Where does most of the money come from?
1
2
III. Substitute the words in italics with synonyms from the text.
Some changes may be necessary.
1. The exchange office functioning in this bank has recently
doubled its revenues.
2. The operations volume has increased lately, logging about
fourteen million Euro.
3. As far as inflation is concerned, the national currency has
been following a downward trend.
4. The representatives of the company argue that in spite of the
last years output boost, some employees will lose their jobs.
33
36
UNIT SEVEN
I. Speaking
Answer these questions:
1. What department is responsible for the selection of the
potential employees in a company?
2. Have you ever been to an interview for a job?
II. Scan the text below and answer the following questions:
1. What is it that determined the companies in Romania to
turn to the domestic currency in order to pay their
employees salaries?
2. Is this phenomenon expected to spread?
38
between the Euro and the ROL. Many of them chose the
national currecy.
d) This is not a mass phenomenon yet, but the trend is
certainly spreading.
VI. Now read the text again and turn it into Romanian.
VII. Turn into English:
1. Nu era pentru prima dat cnd banca emitea obligaiuni n
vederea mririi profitului. Ultima emisiune de obligaiuni
avusese loc n urm cu trei ani cnd profitul bncii crescuse
cu 35%.
2. Acum zece ani compania era n pragul falimentului.
ncepnd de anul trecut este una dintre cele mai apreciate
productoare de medicamente din lume.
3. Dup ce a contractat mprumutul, reprezentanii bncii au
declarat c aceti bani vor fi folosii pentru a susine
creditarea.
4. La momentul respectiv, departamentul resurse umane
funciona de mai bine de cinci ani.
5. ncepnd de luna trecut banca i raporteaz rezultatele
financiare n moneda unic european.
6. Acum doi ani, companiile care pn atunci i plteau
salariaii n dolari au decis s-i plteasc n moneda
naional ceea ce a strnit nemulumirea acestora.
7. Pentru mult timp, cea mai uoar modalitate de
achiziionare a unei locuine era contractarea unui credit
ipotecar.
8. Sptamna trecut a primit n sfrit mprumutul dei l
solicitase cu cteva luni n urm.
40
41
42
UNIT EIGHT-CONSOLIDATION
I. Turn into Romanian:
a) The total assets of the mutual funds on the Romanian market
went up 57% in Q1,2004 and the funds started yielding real
gains month by month.
The mutual fund assets came to 1,858 billion ROL (45.6
million euros) at the end of March, up from 1,180 billion ROL
at the end of last year. Even though the substantial increase in
assets is no longer a general trend among funds and the
number of investors has come down by approximately 2,000,
the managers are moderately optimistic and say the mutual
fund market could start coming out into light.
The asset growth was due to the repositioning of the fund on
the market as a cash management instrument, therefore
successfully attracting many small and medium-sized
enterprises as investors, the head of SG Asset Management
says.
The number of corporate investors went up for other funds as
well and managers say it would normally be time for
individuals to invest in funds. We are glad that corporate
clients have started to turn to mutual funds. I believe this is a
sign the negative perception individuals have of mutual funds
will start to heal little by little, BCR Asset Management
director says.
(Adapted, Ziarul Financiar, no.1362, April 30, 2004)
43
III. Turn into English using the idioms studied in units five, six
and seven:
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50
UNIT NINE
I. Speaking
Answer these questions:
a) There are certain industries of national interest. Which do
you think these are?
b) Do you agree with their being privatized? Give arguments.
II. Scan the article below and answer the following questions:
1. What company did the Government choose as a bidder for
Petrom and why?
2. How will the investment needs of Petrom be covered?
Austrian-based OMV overcame2 other bidders such as the USbased Occidental Oil & Gas Holding Corporation and
Hungarys Mol. It said it had presented a well-structured offer
and development plan, adding that the investment needs of
Petrom will be financed through capital increase and its
operating cash-flow3.
The chairman of Romania Oil Association said that they had
been advocating4 the privatization of Petrom for a long time
and that it was beneficial for a market which was not
liberalized. He added they hoped the deal would be carried
through5 as quickly as possible because the market was
suffering too much.
(Adapted, Bucharest Business Week, vol.8, no.19, May 24-30,
2004)
to overcome to defeat
cash-flow the total amount of money being transferred into and out of a
business
4
to advocate to publicly recommend or support
5
to carry something through bring a project to completion
3
52
53
54
55
56
UNIT TEN
I. Speaking
Answer the following questions:
a) What are the means of developing a bank?
b) Do you agree with important financial institutions being
taken over by similar foreign institutions? Why?
II. Scan the fragment below and answer these questions:
1. How large is OTP Bank?
2. How much is the investment in Robank worth?
3. Is Robank the only Romanian bank that the Hungarian
institution is interested in?
57
58
60
to save face
to argue in favour of
to point out
62
UNIT ELEVEN
I. Speaking
Answer the following questions:
a) What are the factors that influence the exchange rate on the
financial market?
b) How can one predict a certain trend as far as the exchange
rate is concerned?
II. Read the article below and answer these questions:
1. What would have happened if the National Bank had not
purchased the foreign currency surplus on the market?
2. Is this kind of acquisition profitable to the National Bank?
63
exchange rate the value of one currency for the purpose of conversion to
another
4
to dive figurative, to drop suddenly
5
to entail to determine
6
to purge to clear, to empty
7
to call up (money, capital, etc.) to attract
64
66
68
III.Turn into English using the idioms studied in units nine, ten
and eleven:
1. tiam de la bun nceput c va pleda mpotriva nfiinrii
unei companii mixte dar nu ne ateptam s reueasc s o
i mpiedice.
2. Atta timp ct raportul de evaluare nu a fost nc prezentat,
nu putem vorbi de o oferta de achiziie a bncii.
3. Recent, un reprezentant al companiei a declarat c aceasta
nu poate concura cu alte companii datorit lipsei
investiiilor din ultima vreme.
72
73
c) Grupul german Lobbe, unul dintre cei mai mari juctori din
industria european a colectrii, prelurii i neutralizrii
deeurilor, intenioneaz s investeasc aproximativ 100
milioane euro n urmtorii 2-3 ani pe piaa romneasc de
profil.
Compania german a fcut deja primul pas pe piaa deeurilor,
unde strategia sa este de a deveni unul dintre cei mai mari
operatori de profil de pe pia. Serviciile de salubrizare i piaa
deeurilor devin din ce n ce mai tentante pentru investitorii
strini pe msur ce Romnia trebuie s aplice norme tot mai
stricte privind mediul.
Vrem s investim pn la 100 de milioane euro pe o perioad
de doi-trei ani, n funcie de contextul de pe piaa local. Avem
deja proiecte concrete de investiii, cum ar fi depozitul
ecologic de deeuri de la Slobozia, punerea n funciune a unui
depozit de deeuri industriale la Timioara, a unui incinerator
de mare capacitate i a unui incinerator de deeuri medicale, a
75
76
VOCABULARY LIST
UNIT ONE
advertising publicitate
apparel mbrcminte
appliance aparat, dispozitiv, instrument
household appliance aparat de uz casnic
contract contract
conclude a contract (to) a ncheia un contract
seal a contract (to) a ncheia un contract
contract (to) a contracta
counterpart omolog
deal nelegere
deliver (to) a livra
employee angajat
employer angajator
exceed (to) a depi
exceed by far (to) a depi cu mult
excess exces, surplus
in excess of mai mult dect, n plus, peste
income venit
annual income venit anual
partnership parteneriat
seal a partnership (to) a ncheia un parteneriat
production producie
production licence licena de producie
production line linie de producie
purchase (to) a achiziiona
share aciune
shareholder acionar
77
UNIT TWO
board of directors consiliu de administraie
broadcast (to) a transmite (o emisiune, un program radio,
TV)
broadcast transmisie, emisie (radio, TV)
call up a meeting (to) a convoca o edin
capital - capital
chairman preedinte (de ex. al consiliului de administraie)
damages despgubiri
decline (to) 1. a declina, a refuza, a respinge; 2. a scdea
face value valoare nominal (a unei aciuni)
head / registered office sediu (al unei companii)
increase (to) a crete
investment - investiie
managing director director general
output - producie
premises teren, cldire cu acareturi
revenues - venituri
trigger (to) a determina
UNIT THREE
accountant - contabil
costs - cheltuieli
cover (to) a acoperi
give rise to (to) a produce, a provoca , a aduce
78
UNIT FOUR
account for (to) a justifica
aim at (to) a fi destinat
as of ncepnd cu
division sector, secie, departament
expand (to) a (se) extinde
facility 1.avantaje, privilegii;2. instalaie, utilaj
footwear nclminte
look into (to) a analiza
market - pia
domestic market pia intern
international market pia extern
operate (to) 1.a opera, a funciona;2. a conduce, a administra
operator 1.operator;2. proprietar sau administrator (al
unei fabrici)
post (to) (n contabilitate) a nregistra
raw materials materii prime
release (to) a da publicitii, a face cunoscut
release anun, comunicat de pres
stocks - aciuni
stock exchange bursa de valori
surge (to) a crete rapid
turnover cifra de afaceri
79
UNIT FIVE
close/conclude negociations (to) a ncheia negocierile
consortium consoriu
inflation inflaie
installment rat
letter of guarantee scrisoare de garanie
loan mprumut
tender for a loan (to) a solicita un mprumut
grant a loan (to) a acorda un mprumut
return a loan (to) a restitui un mprumut
mortgage ipotec
perform (to) a executa (o lucrare)
subsidiary filial
UNIT SIX
credit credit
currency moned (unitate monetar)
domestic currency moneda naional
foreign currency valut
dealer dealer, reprezentant, reprezentan
deposit depozit bancar
depreciation devalorizare
exchange - schimb
exchange office cas de schimb valutar
exchange rate curs valutar
official reprezentant
savings economii
80
UNIT SEVEN
bonds obligaiuni
consultancy group grup (companie) de consultan
drive smn. to do smth. (to) a determina, a constrnge (pe
cineva s fac ceva)
gain ground (to) a ctiga teren
human resources resurse umane
issue (to) a emite
log (to) a nregistra (profit, o cifr de afaceri etc.)
support (to) a susine
trend tendin
UNIT EIGHT
amount to (to) a se ridica la
appreciate (to) a (se) aprecia, a crete (n valoare)
assets active
carry out (to) a duce la bun sfrit
come down (to) a scdea
deliver (to) a livra
dividends dividende
drop (to) a scdea brusc
interest dobnd
mortgage credit credit ipotecar
mutual fund fond de investiii
profit profit
profit after taxation / net profit profit net
profit before taxation/gross profit profit brut
release (to) a scoate pe pia
resort to (to) a recurge la
81
UNIT NINE
advocate (to) a susine, a pleda n favoarea
auction licitaie
bid ofert
bid for (to) a face o ofert
bidder ofertant (la o licitatie)
carry out (to) a duce la bun sfrit
carry through (to) a duce la bun sfrit
cash-flow flux de numerar
core-market piaa de baz
depreciation depreciere
draft a deal (to) a pune bazele unei nelegeri
overcome (to) a ctiga, a nvinge
takeover preluare
takeover bid ofert de preluare
UNIT TEN
balance sheet balan contabil
board of directors consiliu de administraie
budget buget
budget (to) a aloca, a repartiza din buget
enforce (to) a pune n aplicare
infrastructure- infrastructur
list (on the stock market, to) a cota la burs
look at (to) a analiza
82
UNIT ELEVEN
call up (to) a atrage (capital, investiii, bani, etc.)
conference room sal de edine
dive (to) a scdea
entail (to) a aduce dup sine
forex market pia valutar extern
interest rate rata dobnzii
sell at a loss (to) a vinde n pierdere
UNIT TWELVE
argue in favour of (to) a pleda in favoarea
argue against (to) a pleda mpotriva
bucket gleat
consumer consumator, abonat al unei companii de
electricitate
insurance asigurare
83
insurer asigurator
insurance company companie de asigurri
life insurance asigurare de via
joint venture societate mixt
lid capac
network reea
distribution network reea de distribuie
premium prim de asigurare
resume (to) a relua
set up (to) a ridica, a nla
84
GRAMMAR IN A NUTSHELL
UNIT ONE The Article
The Definite Article
1. It precedes countable and uncountable nouns
2. It is used for specific reference
e.g. Generally, accountants are boring people. (generic
reference)
The accountants I met up with yesterday are very
interesting and resourceful people. (specific reference)
3. used to refer to objects which have been mentioned before
(anaphoric reference)
e.g. Recently, a contract has been sealed with our Chinese
partners. The contract aims at increasing our comapanys
exports.
The Indefinite Article
1. It precedes a countable noun in the singular
E.g. What is the difference between a debtor and a creditor?
2. It is used to refer to jobs
e.g. His dream was to become a stockbroker.
3. It is used in exclamations
E.g. What a bargain!
85
b) plural invariables:
the Commons, customs, earnings, funds(BUT: a relief
fund- a sum of money for a particular purpose), minutes
(the minutes of a meeting), premises (building in
official stylel; BUT: premise in logic), savings (a
savings bank, a savings account), wages
some proper nouns: the Highlands, the Netherlands
c)invariable unmarked plurals
people (BUT|:the English speaking peoples), police, etc
3. some variable nouns
a) plural formed by mutation: foot-feet
b) plural formed by changing of f into v: half-halves
c) zero plurals:
several hundred employees BUT: hundreds of employees
five million people BUT: millions of people
five foot two BUT: five feet
six pound fifty BUT: six pounds
d) some foreign plurals
bonus-bonuses, stimulus stimuli, area areas, formulaformulas-formulae, analysis analyses, crisis crises,
criterion criteria, phenomenon phenomena, etc
87
88
89
90
91
93
94
Tenses are moved into the past after a past tense reporting
verb
e.g. I havent forgotten your request.
The manager said he hadnt forgotten my request.
96
e.g. They would have signed the contract if both parties had
agreed on all of its clauses.
99