Friday, July 25, 2008

Conditions of Language Translator and Interpreter

Language translator and interpreter did not changed with the dynamism in the world but the only things that changed are the tools, the means, the knowledge and the way of working. The translator’s work is not limited to converting one language into another. The end result has to be sincere to the original, nicely presented and competitive in price. In order to achieve the end results professionalism is essential and there are some conditions that the good professional translators and interpreters should meet they are as follows.
  • Firstly the good professional translator should the follow code of ethics.
  • The good professional translator is intelligent and knows that in the long run, honesty and loyalty pays off
  • The good professional translator should be fair to clients so that they can also build their carrier as the translator.
  • Master the source and target languages to be able to convey the message faithfully and specially the target language, where the translator has to transmit the small nuance.
  • Be familiar with the topic or field being translated. The same word could mean something different in Economics or metallurgy.
  • Have some knowledge in computers and modern communication tools.
  • Have capacity and be ready to learn and adapt to this fast moving technological world. Never stop learning.
  • The translator should never accept translation work beyond his/her capacity. Accepting impossible tasks is one of the best ways to loose customers and build a bad reputation.
  • It is hard to build a trustworthy reputation and very easy to loose it. Therefore always decline impossible tasks. Better say NO than sorry in this case.
The Norwegian translator follow some of the above advice will greatly increase the chances to succeed in this borderless profession where competition is fierce. Nowadays a translator needs to be more professional that in any other profession.

Tuesday, July 15, 2008

Bond Valuation

Bond valuation is the process of determining the fair price of a bond. As with any security or capital investment, the fair value of a bond is the present value of the stream of cash flows it is expected to generate. Hence, the price or value of a bond is determined by discounting the bond's expected cash flows to the present using the appropriate discount rate.

BOND PRICING

Relative Price Approach
Here the bond will be priced relative to a benchmark, usually a government security. The yield to maturity on the bond is determined based on the bond's rating relative to a government security with similar maturity or duration. The better the quality of the bond, the smaller the spread between its required return and the YTM of the benchmark. This required return is then used to discount the bond cash flows as above to obtain the price.

Arbitrage-Free Pricing Approach
In this approach, the bond price will reflect its arbitrage free price. Here, each cash flow is priced separately and is discounted at the same rate as the corresponding governments issue Zero coupon bond. (Some multiple of the bond (or the security) will produce an identical cash flow to the government security (or the bond in question).) Since each bond cash flow is known with certainty, the bond price today must be equal to the sum of each of its cash flows discounted at the corresponding risk free rate - i.e. the corresponding government security. Was this not the case, arbitrage would be possible.

Wednesday, July 2, 2008

Entertainment with online videos

Slow internet connections and lack of speed interrupt the audience to watch online videos. These are the two basic reasons that make not to enjoy videos online. What used to be hours and many minutes have now been converted to few minutes or seconds. That is what the world of entertainment has become: sound bytes, flash videos, movie clips and instant gratification. Even those kinds of videos have made their way through the buzzing cyber-wires. The focused capsule of entertainment is one of the first fallouts of online videos. So, you know exactly what to expect. And when you get it, you know you got it. The web does not make videos, but is sure makes distribution real easy. Sure, the Internet does not create videos, but it sure seems to encourage their production. So, now, everyone is a producer. And while they are at it, a director, an actor, a scriptwriter, a screenplay writer, and a voice over artist.

Initially, the worried situation was that online videos would turn out to be garbage. It is refreshing to see the take of these new digital creators. In fact, online videos have become the eyes of the world with enthusiasts rapidly shooting everything that needs to be shot. The people are on the threshold of a great new world for online videos. This will probably be aided by the fact that many erstwhile free video-sharing sites might actually end up paying video producers. If that happens, there will be a fresh new lease of life to producers and the flow could be so strong.

Most of the entertainment sites will have online videos that you can watch for free. If the site actually makes editorial decisions in choosing the videos to display, the quality of videos would shoot up. Everyone has their favorites. If you somehow missed this entire phenomenon, get going now. Watch a few online videos.