business magazine - may 31st 2011

8/16/2019 Business Magazine - May 31st 2011

1/100

Business English

Jçzyk Angielski Biznesowy

agazine

4

Artykuly do odsfuchania w formacie MP3

+ Dodatek Technical English

TURMOIL IN GREECE

AVON -THE BUILD1NG OF

A BRAND

TOP TIMES FORTED

WHERE NEXT FOR 1W?

POWERFUL WOMEN

GIVING THE PERFECT

PRESENTATION

MANAGING GENERATION Y

CELEBRITY STARS GOING GREEN

Morel

I

wviwbussincs-english.con


2/100

bt4

tot,_

Coic


3/100

r

j

D

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l

~

jj

ri

f jjjJii

LJI1

November/December 2011

I N B R I E F

A v a t a r A t t r a c t i o n s f o r D i s n e y

6

Reasons to be Cheerful (This Christmas)

7

Fast Action in Europe 18

Steve Jobs (1955-2011)] 9

P O L A N D

Shale We Dance, Dear Gas?

9

E U R O P E

Danish Economy Bounces Back 114

Turmoil in Greece

17

1 1

I N T E R N A T I O N A L

Powerful Women

20

CM

China's Sizzling Sex Industry] 23CM

Where Next for BP? 126

CM

B U S I N E S S P R O F I L E

More Than a Soap Oprah 30

B U S I N E S S L I F E ST Y L E S

Avon — The Building of Brand 133

More Than Just Beautiful 34

The Home Office

39

S M A L L B U S I N E S S

Profiting From Pet Services

42

B U S I N E S S S K I L L S

Giving the Perfect Presentation

45

Image is Everything 48

Coaching Expatriate Managers

1 51

M A N A G I N G P E O P LE

Managing Generation V

54

George's Short and Tall Tales

56

Social Media in Recruitment

57

Management speak

-oom 101 159

The Company Christmas Party

-reat or Trap?] 60

How to Give Feedback

61

E N V I R O N M E N T

New Greenpeace Campaign

62EM

Celebrity Stars Going Green

65

BU SINESS LANGUAGE

Merger & Takeover Test

69

A Day in the Life of a Nobod y

70

T E C H N O L O G Y

Top Times for TED

74

EM

Pros and Cons of Google+ 178

R E A D E R S ' C O R N E R

Rczwizanie konkursu Pomyst na biznes

80

BEM Agony Aunt 81


4/100

,,0

V IDEO

BUSINESS ENGLISH + POLSKIE NAPISY

a — t

Fig

W H E N W A S T H E L A S T T I M E

fl W A S A U D I T E D ?

--.----

Bardziej dziwijednak to. 2e FRS odmowita

rowniez poddania audytowi zapasôw'±Iola

(0

ffjP3

0

Aby pobrad pliki MIN na komputer, wed± na stron

www.colofrulmediapl

i wpisz kod podany pray artykule.

O

Aby pobrad pliki MP3 na telefon komórkowy, wystarczy

zainstalowad na nim aplikacjç, ktôra umouliwia odszyfrowanie

kodu umieszczonego przy artykule.

Odpowiedni program rno±na pobrad za darrno ze strony

www.colorfulmedia.pI/czytnik

0

ND E KS F IRM, NAZWISK I MIE JSC

Adage

54

FC Barcelona 63

Adidas

63.64

Geof f Mulgan

77

Angela Merkel

21-22

Greece

15,17-19

APPA

43

Greenpeace

62.64

Apple

9,48,74

Gunther Oettinger

13

Asia Adult Expc

23-25

Hillary Clinton

21-22

Avon

33-35

Julia Roberts

36-38

BP

26-28,68

L'Oreal

36

China

23-25

OprahWinfrey 30-32

David Cameron 8

PetSmart

42-44

David H. McConnell

33-35

Petco

42-43

Denmark

14-16 Russo

11,26-27

D i lma Roussef f 22

Silicon Valley 48.56

Disney

6

Steve jobs

9

Facebook

22,57, 60 TED

74-77

Dolncz dn nas na Facebooku:www.facebook.com/busines5englishmagazine


5/100

: L E~ m i

N

i l

1 a

r

f a i r

p o r y .

niezly

' b e h i n d t h e s c e n e s I z a k u l i s a m i

-

'improved I u sprawniony, ulepszony

layout I ukiud, plan

to sweat over sth I napocid siy nad czymh

'due to popular demand I no hyczenie publiki,

no ogdlne czvnie

accompanied with I

polpczony z czymd

staff I pracownity

Steve Sibbald

'on board I

no polcladzie, w zespole

(Editor and Deputy

Editor-in-Chiel)

i n addition to sth I w

dodatku do czegot,

oprocz ozepos

mixture I mieszanka

m o s t t a l k e d - u b a u l I n a j b a r d z i e j p o p u l o r n y .

Dear readers,

n a u s t a c h w s z y s t k i c h

s o c i a l n e t w o r k i n g s i t e I s t r o n a s p o i n c a n o s t i

i n t e r n e t o w y t h

"to ure I

p r z y c i o , g n y d , p n z y w a b i c

Allow me to take this opportunity to welcome you to another edition of Business

the pros and cons I za i

przeciw plusy

English Magazine.And what a fine edition it

is too.

I minusy

h a r d - h i t t i n g I d e m a s k a t o r a k i

You may be thinking there's been a fair' number of changes made since the last

1 7

turmoil Iwnzenin, niepokoje

issue and you would, of course, be absolutely right.There have been quite a few

'step-by-step

krok pu kroku, szczegblowy

things going on behind the scenes' and we hope you are as happy with the new

"documented account I udokumentowane

look as we are.

sprawozdanie, relacja

to cast one's

e y e I spojrzed, rzucid okiem

First of

all, there's the new and Improved'layout-, which our design team has

"entitled otytulowany

sveeute.ci long and hard over' during the last couple of months. Second,

due to

"detailed szczegflowy, dokladny

popular demand', we've got more articles now accompanied with' MP3s. Third,

"humble

kromny

we've got some new staffa on board', so

I 'd like to say a big welcome to new writer

George Sandford and Editor-in-Chief Bartosz Zieleznik.

So, you've seen the new look and

met the new team members. But how about

what's hidden in between the pages?

Well, in addition

to"

a new Technology Gadgets section, you'll be happy to hear

we've got the usual mixture" of business news and articles for you, including

one on the most talked-about" social

netwojtkjsg..yjtes'

since Facebook.We take

a look at what it's doing to lure' in more users and, more importantly, how it plans

on keeping them. Find out more in

Pros and Cons of Google+.

There's more

hard.vinjttint'

news

in

Turmoil in Greece, as we give a atoaibyoi

tep

ocumented account" of the lose 10 years to see exactly why the country

has found itself in such a desperate and depressing position.

We also cast our eye'

around the globe to

bring you an article on some of the

world s most i n f l u e n t i a l females. To find out who

makes the list, check out our

piece entitled" Powerful

Women.

On a similar topic, this edition's Business Pro-

file section focuses on Oprah Winfrey.We take a detailed" look at her life, from

her humble" (and somewhat tragic)

childhood to her position as one ofAmerica's

most

important modern-day businesswomen.

So from all of us here

at

B E M

we hope you enjoy the new look and, until next

time, happy reading.

Steve Sibbald

(Editor and Deputy Editor-in-Chief)

B u siness

English magazine

5


6/100

Avatar Attractions

1 didn't

want to

come brick

to Earth. I

didn't want to come buck

for Disney

o my doy-to-day reality"

A new deal has been announced which will

grunt

Walt Dis-

ney

the...crgh'

to create 'Avatar-based attractions at any of

its theme parks around the globe.

So far it has been reported that work will start on the

first attraction at Disney World in Florida in 2013, al

-

though the entertainment

giant

has hinted

,that it may

eventually,

expand this

his to other parks too. The

eatirnat-

edt price of the attraction is believed to be

(n.

the jregion

of USD 400 mln,

Speaking in an interview, director James Cameron, who is

presently working on two

aeue1n", agruaa&

that the vent

turn" in Florida would incorl2oratez

,a number of different

attractions for visitors.

"We're not just doing one attraction, one ride show.

We're

doing multiple

,,

attractions, environments, places where you

can go to live, eat, breathe, smell Pandora."

"What did people say when they saw the movie, the fans of

the film'

6

Business English Magazine

He went on to add that he believes the attraction (expected

to be unveiled

,, in 2018) is going to be

spoctucular"."Now

you have something that you can touch as well as see, which

I think is going to be really phenomenal"."

'to announce I oglosif

'to grant the right(s) I udzielik praw(a(

'theme park I lemalyczny park rnzrywki

'giant I gigant, pole Mat

'to hint I rnbik aluzje

'eventually I enlatecznie, w knftcu

'to expand I poszerzyh, rozszerzyk

'estimated I szncoouny

'in the region of

1w

pebliiu, w okolity, w pnzyblr±eniu

"sequel I druga Czgid (film u, ksiaki(

"to stress I akcentowad, hindu nacisk

"venture I przedsiywziycin

"to incorporate I wlpczad, obejmowaf

"multiple I wieleralu, wielnkrotny

,,

day-to-day reality I szara rzeczywintoid, codzienvnih

"unveiled

I

ndnloniyly, oddany do ekspleatacji

"spectacular I spektakularny, widowiskowy

"phenomenal

I

niezwykly, fnnomenalny


7/100

Reasons to be Cheerful

,

(This Christmas)

Retail outlets and shops in the US will be rubbing their hands

together'

over the news that spending habits' look set to in-

crease over this years Christmas period.

Accord icig...to sews sine MSNBC's business sectio in, American

shoppers are due to part with.

3 percent more of their hard-

earn e& cash than lastyear — afigv.ce'which will no..doobe"put

u. smile on many

gas'.

While figures are based on current spending, such as goods

for the new schooling season, it is believed that trends will

continue as the Christmas period begins to approach'.

"Clearly, consumers will remain

,

surgical- in their spending,

but the Christmas season should still be quite satisfactory,"

says Bill Martin of ShopperTrak, the research team' that has

p.coIcted'

the

upeorniog '

increase.

"Every shopper in a store will be more valuable,

,

than last year,

and retail snores should be ready to convert' their holiday

shoppers into sales."

"These figures might not be echoed--- all around the globe, but

surely foreign retailers will feel more confident" after hearing this

news:'

says financial advisor Rob Vernon. "Of course,we will have

more

ecnoeoce_d'

figures after the festive

1

period, but

it

bodes

moiLf.Qt"

major

challis"

and smaller shops everywhere."

cheerful radesny

retail outlet I slelep d eta litzny

'to nub one's hands together (in glee) I zacierad rce jz utiethyj

'spending habits ( nuwyki konsumenchin

'according to I wedlug, zgvdniv

'to be due to do sth (mind toll zrnbid

'to part with sth j rozslaO sq z czymll

'hard-earned j ti±kvzarobiuny

'figure j tyro, litzba

"no doubt j bez wqtpienia

" to put a smile on n b's face j wywolad udmieth no tzyjejs twarzy,

ucieszyd kognll

"to approach j nadchtdzid, zbli±ad si

"to remain I pozvslui

"surgical j thirurgiczny, a: bardzo oslrohny

"research team j zvsphl bodawczy

" to predict ( przewidzied, prognozo wad

'upcoming ( nodchodzycy

'vulaable j wantoitiowy

"to convert ( przeksztaltid, przetwvreyt

"

"to e cho j rozbrzmiewah ochem, o dbijat sq echem

conf ident j peony

"cemented j

lv:

peony, ustalnny

"fe stive j iwrqtvczny, odllwiqlny

' to bode well for sb j dobrze komull wrdzyt

"chain I sled Ins. skleol lwl


7


8/100

L

Fast Action in Europe

tostruggle I borykadniq.zmagac

to find one's feet I na bra d pewnotci, ndnalebd siq w nowej vytuocji

As Europe struggle' to find its feet on the economic ladder,

I Prime Minister I premier

British

E n i , n n i e

Minister' David Cameron has Ygiod

,his fears

'to voice I wyrazid

over the eurozone

foJiuc'.

fallout I In: negalywny nfekl ubaczny

'to state I obwiadczyf

In a recent interview, Mr Cameron stated

, that fgjjw Euro-

'fellow I kolegn

a fachul

Penn leaders need to act quickly and make fast decisions in

to preserve I zachowad

order to help

preserve

the common goal.

'common goal I wapolny eel

"to take action I podju,d knaki

"on needs gx,.pJexni" in the next coming weeks to strength-

"to strengthen I wzmacnih

em" Europe's ban ks,to build the detknces" that the eurozone has,

"defences I obrona, macbanizm obronny

to deal with" the problems of debts" wicisivel'," he said, adding

"to deal with sth I poradzid vabie a czymi, zulu sq czymk

that as approximately- 40 percent of Britain's exports were con-

"debt I zadlubonie

netted to Europe, the country had cause for concern".

"decisively I zdecydowanie, ntanowczo

" app roalmately I

nzybli2eniu

He went on to state that Europe's financial problems were

"cause far concern I powdd do niepokoju

not just a problem for the UK and other European states, but

"to echo uth I adbijud sig whom, tu.

zgodzid aiy z czymk

for other nations around the globe.

"stock market I givida, rynek papivrOw warlavtiowych

"to prevail I dominowaO, punawad

Mr Cameron's views will

those of most other leaders in

"the tight at the nod of the tunnel I twiatelko w tunelu, nudziejo

the eurozone, as news of falling stock markets" and increasing

"to receive I otrzymywah, doslvwvd

problems within Greece continue tc

prevail

", leaving many to

"public I ogOl spaleczaivtwa, opinia publiczno

wonder when the light at the end of the tunnel" will begin to

"to argue with oth I vpierob Sifi a cod

shine.

"sentiment I poglnd,odczutie

"regarding I odnoinie, to sq tyczy

"While David Cameron receives

uch criticism from the

"to rely an I zalezed ad, byd zaLednym ad

UK px.blic', few will be able to argue with" his sentiments"

'to express I wyrazit np, abawy)

cxgatjng" the current European situation," says finance ex-

pert Peter Hanson."Like many countries, Britain's exports rely

heavily an" other European nations and concerns are being

expressed'."

8 Business English Munuelee


9/100

The business world was rocked' on October 5, as Apple co- Some industry analysts who witnessed' the Rhone 45 even 31

founder,

and Chairman' Steve Jobs was pronounced dead', recently stated that Cook's performance"

(ginned"

the enthu-

following a long battle with pancreatic cancer'.

iasm and spark" of the charismatic Jobs, but those close to

the CEO have already made their feelings clearly known.

An official company atuiturnent' read:"Apple has lost a visionary

and creative genius, and the world has lost an amazing' human

boig'.Those of us who have been fortunate

,

enough to know

and work

with

Steve have lost a dear friend and an inspiring

mentor. Steve (ggyes behind' a company that only he could have

built, and his spirit will forever be the fosindutiorT

of Apple."

Much had been made of Jobs' deteriorating" health over

recent times and in August this year he stepped down as"

CQ', although he remained" chairman.

The true importance" of his

in±iueij.ce'

on the modern world

can be seen in the millions of online tributes" that flooded"

the Internet as news of his death began gc filter tb.r.cugh"

around the globe.

Some of the world's leading names, from Bill Gates and Mark

Zuckerberg to Barack Obama and Dmitry Mednedev, also

took sIrn.e.out"

to pay their respects".

"The world rarely sees someone who has had the

ptofa.u.n.d'

impact Steve has had, the effects of which will be felt for

many generations to come. For those of us lucky enough to

get to work with him, it's been an

insane1"

great honour,"

said Gates.

In an official statement, the American President said that Jobs

was, "Brave enough to think differently, bold enough to be-

lieve he could change the world,and talented enough to do it."

"By building one of the planet's most successful companies

from his garage, he exemplified" the spirit of American inge

What's next for Apple?

Millions of eyes will now be on the new

CEO Tim Cook to

see if he is capable- of

hying

up to" the difficult role per-

fected by his predecessor".

According to" Executive Editor' of MacTech magazine Ed-

ward Marczak, the company will continue to be as

inncvyu.

tive" as ever.

"While the market may worry, those who have ggyckb"Apple

through it all know there's only more excellence" ahead:'

'to rock sth I wstrzffsnpf caymi to take time out I wzifft noire,

,co-founder 1 wsp6lzal05yoinl

urlup

'chairman I przewndniczn,cy,

"to pay one's respects (to sb)

prezes

aln±yk knmub uazannwanie.

'to pronounce dead

I annu/

pozegrak zmar lego

ntwierdzih zgon

"profound I glboki, gruntnwny

'pancreatic cancer 1 rak trzustki "insanely

zaleftzo, ogromnie

'statement I okwiadczenin

"bold I odwazny

'amazing I niezwyk/y, wyjptknwy

to exemp lify sth 1 unnabiak tab.

'human being I istola ludzka

stunowik przyklad tzegnb

'fortunate I nzczflbliwy, mujpcy

'ingenuity I wynalazczobk,

sZcZflsoe

pomyslowobi

'to leave sth behind I pazontawif

'capable I zdnlny, kompelentny

tnt zulpo sable to l ive uptosth I do rbwrabczemuk

"foundation (fandacja, "predecessor I pnprzednik

fundament

to witness sth (byb fwiadkiem

'deteriorating I poguraz ajypy si uzeyn t

(np stun zdrowia)

,

event I wydurzon ie, gala

tostep

down an sb I ustajbk ze

"perf ormance I wy niki, aniagi,

slanowiska

wypelnianie (nbnwiyzkOw(

"CEO ( Chie f Execut ive Off ice r ) I

' to lack I brakowab, r io mieb

dyrek to r na tze l ry

"spark I iskra

"to remain I pezontab

'according to I zgndnie z, wining

"importance I wa±nubrt,

executive editor I redaklor

znaczenie

nocrzelnylwykanawczy

" in f luence I wplyw

'innovative ( nnwatorski

'tribute I bald, wyrazy uznunia

"In stick by sb I lrzymak sit

" to f loo d I za tap ib , zu lak kogab, pozestuwaf przy/z kimb

"to filter through I rnzchodzic sig,

"excellence I perfekcju

rozprzvslrzeniah sit

doskonalobti

Oari,srsr O,gIkh Magazine 9


10/100

POLAND

Shale We Dance,

Dear Gas?

In mid-September. Keg Resources (an independent British oil and gas

group with acreage in Poland and Germany) found deposits of shale

gas in tebieñ. This successful test drilling may be one of the country's

most important moments this century. BEMs Tomasz Puchalski and

Daniel Starski investigate.

shale

lupek

resource I zasOb

oil and gas I rope i gee

acreage I lererr areal

deposits I zloa

test drilling wiercenie odkrywkowe

C')

71

10



11/100

POLAND

hale gas is currently on the

1

ist of unconventional energy

sources (with tight gas', coal

bed methane and

r c u e . t t u u i a . e

ttydcar,t.a')

that theoretically are more

expensive to extract than traditional

fossil fuels,,. However, not without rea-

son

the current trend

is

referred to

se

the 21" century

goiLtuah".

The

fluE-ever

shale gas extraction took

place in 1821 in NewYork state in the

US. Since then the technological devel-

opments have made it possible to

ojflcarj.tl

17 lower the costs of the entire

operation.

The world

Currently, the undisputed leader in

obtaining"

energy from shale gas is the

United States. The first-ever extraction

for commercial use was started in 2002

and amounts have soared' ever since.

According to' a report prepared by

the Energy Information Administra-

tion, the largest perspective deposits'

are in China (36.1 trin ni

3

), Argentina

(21.9 trin m( and Mexico (19.3 trIo

MI).

In Europe, Britain leads with 5.7

trin m

3

after the

findings" in Lanca-

shire county in September 2010) and

Poland comes second with 5.4 trin mt.

There are also significant amounts of

this energy source in France (5.1 trin

vit

) and Norway (2.4 trin

m u).

Full of controversies

Shale gas arouses,, many controversies,

pxrticiuiu.riy" amongst economists and

politicians. Commercial use of shale

gas as on energy source has caused

a revolution on the gas market The US

has changed from an importer into an

exporter of this fuel. It has caused the

LNG', price

aituap",

which was a real

loss for

Qatar

and may also have an

i.ttip.act

1 1 on Russia - the leading ex-

porter of natural gas to Europe.

Ecological issues

The opponents of shale gas extrac-

tion

claim'

that the process contami-

nates" the groundwater" with chemi-

cal substances during the hydraulic

fracturing. i l l

'energy source 12r6dic ennrgii

'light gas I gao zacisniyly/uwizieny

coal bed methane mnlvn a pokiodow

wflga

'methane hydrates hydroty metanu

to extract I wydabywa.

"fossil fuels 1 paliwa kopalne

"net without reason ri ie bez przyczyny

'to be referred to as byd mymb narwunyin

byc nkreslanym jakimb mianen

"gold rush geracaka zioN

f irst-ever pierwsoy (no bwvcie)

'significantly znaczpco

'undisputed a nkwestiennwany

'to obtain I

uzyskod

for commercial not

I

na uSylek knmeroylny

'to soar gwultownie wzrvxtat

"according to I zgndn e z wvdlug

perspective deposits I zleza

perspeklywiczne

"findings

I

wyniki (badxh), zna ez sky

"to arouse I wzbxdz t wywolac

'particularly

I szczegoln ie

17

LNG ( liquefied natural gas) I goz zinmny

a postaci cieklv

"slump gwullowny vyadek

"Qatar Kalxr

"to impact sth

I wplywac tacos

"to claim I lwierdzii i

"to contaminate

I

skaSac

our tczyszczat

groundwater

I

woda grunitwa

Business English Mugra'n

11


12/100

POLAND

Even though it has extensive' deposits,

oland

in June 2011 France

banned'

shale gas

extraction with this technique and in

oland has one of the largest shale gas

September 20 II withdrew three ten deposits in Europe. The Wood Mac-

search permits forTotal Consortium.

enzie consulting group

eirno.tes"

it

at 1.4 trin m

3 , whereas Advanced Re-

The EU is also considering implement-

ources International is more optimis-

ing regulations

Ihat would control the

ic with its

ptagnnnis

(3 trin m 3

). How-

process,

ver, EIA remains the most optimistic

with an estimate of 53 trin m

3 .

However, the

heed"

of Poland's Minis-

try of the Environment

cetnuins'

OOn

he shale gas deposits are located be

concerned' and claims that there is no

ween Slupsk and Gdansk all the way

evidence " sutggesclng'

that shale gas ex- through Warsaw to Zamosc and Lublin.

traction might

m o m '

nature in any way.

ver II percent of the Polish territory

12

Business English Manraaiee

(37 thousand km 2 ) is currently being

screened for' shale gas.

In comparison with the currently

available natural gas deposits,which are

estimated at 100 bin m3 (and may dou-

ble after the recent findings obtained

near Kutno), even the least optimistic

prognosis sounds marvellous". Should

the EIA prognosis come true', Poland

will be fully independent, as far as gas

needs are concerned, for the next 300

years. More details on shale gas depos-

its should be available within 4-5 years.

Permits

Ministry of the Environment is respon-

sible for

main

51 research permits in

Poland. in four years time, 101 search

li,cens" were

giy.uneruu,

mostly to

PGNiG (IS), Maraton Oil (11), Siluran

(9). Lotos Probaltic (seven permits for

underwater search under the Baltic)

and Orlen Upstream (7).

These licenses are only for research

- to start extraction, one needs to

obtain a mining" concession. Should

"extensive I roziegly. szeroki

"10 ban

zakazai, zabronii

"to withdraw I xycofai. cnfnai

"research permit I licencjalzezwolenio

na prowadzenie poszukiwaf

(geologicznyth)

' to consider I rezwuioc

"regulations I reg ulacje )pruwne)

"head I glow s (op. zvspelo), szef

' to remain I pozestad

"uncurscerned I obojytny, niewzrunzeny

"evidence I dowedy

"to suggest I Is: wokazywad (no co d)

"to harm I zanzkodaiO , nkrzywdzii

"to estimate I nzo cewai

"prognosis I pregnozu. roknwanie

'to screen sth for sth I badad cod pod jakimi

kotem, paddawac cm tentem no cod

"in comparison with I w porównaniu zldo

"marvellous I cudowny, wspania{y

"to cam e true I spelnif sifl

"responsible furl odpowiedziolny za

to issue I wydab (np. zeawolenie)

"search l icense I l itencjatkonceoja na

prowadznnie poszukiwab

' to give out I wydni, oddod

' the Baltic I Baltyk

'mining I gdrnictwo, xydobycie


13/100

POLAND

a company find shale gas in their area,

it will have priority in

a.cquirin"

the

necessary documents for further pro-

coedins", but only for two years after

the geological documentation has been

prepared.

Profits" and the security

of energy supplies

Shale gas extraction will be slightly ,

more expensive in Poland than in the

US, as the deposits are located deeper

underground (about 2.5-3 km in the

southern parts of Poland and 4-4.5 km

in the northern parts).The cost of

ap-

erture" in Poland is estimated at IS mln

USD, compared with 7- 10 mln USD in

the US. However, it is still

pmofita,hle"

for the companies. According to EN"

DonaldTusk, the first profits may come

as soon as 2014 and contribute to'

'to acquire I nabyd

"further proceedings

I dalsze czynno kci ,

kolejne dzialania

profits

I zynki, dochody

slightly

I

odrobinq

aperture I odw iert , otwnr

"profi tabln I rnnlowny, dochodowy

"PM (Prime Minister) I premier

"to contribute to] przyczynid nifi do,

lu

zaailic coo

the national budget and local govern-

ments' budgets. Furthermore', shale

gas extraction may allow Poland to be-

come independent of' the Russian gas.

Security of energy

uu.pp]ies"

should be

coached" by 2035.

Extraction

Only 10 drills" have been conducted"

since September 2010, which is quite

a poor result"

in comparison with the

US (e.g. 10 thousand apertures have al-

furthermore

I

to wipcej. ponadto

'independent of sth ] niezalezny od ozegob

"supplies ] zasaby, zapasy

"to reach ] oviqgnqd, do rzod

"dri l l ] wiercxnie, odwinrt

"to conduct] preeprnwadziO

"poor result] kiepski wynih

"in cooperation with ] we wspdlpracy

"in the vicinity of] or poblidu. nieopodal

"act I uslawa

ready been drilled in Burnett Shales).

The first was started in June 2010

by Lane Energy

Incoop.ctagionwith"

ConocoPhillips

in...

he vicinity of" Leb-

ork. Henryk jezierski, Chief Geologist

for the Ministry of the Environment,

expects that commercial extraction

will only become possible in 10-15

years.All the procedures are regulated

by the Geological and Mining Act", of

2004.

It's worth noting that" the service

charges"

in Poland are

roilativI"

low,

metaL"

1-2.5 percent of the

Income",

whereas they are several times higher

in the US. However, it's almost cer-

tain that if the perspective shale gas

deposits are confirmed", the prices

will go up. Until then, go and get your

sieve

,,

and bag, and get ready for the

gold rush

'it's worth noting that... ] naledy/wurto

zauwadyf. le...

"semite thurge ] oplata eksploatacyinx,

prowizia

"relatively ] s tosxnkowo, re latywnie

'to set sthutX] lu:uslalidtosnul. okreltid

(warlord) no I

" income ] dochod, p rzychdd

"to confirm

I

polwierdzic

"sieve I situ

Business English Muguoieu

13


14/100

_

o

p

ow

2

paniiameniary niece on I

WYDUF

Y

porlamentarne

QI

pierwszy kwartal

Gross Domestic Product (GDP)

Produkt

Krajowy Erulto (PKB)

duets

zpowodu

depressed

przyynyb ony to. dotkniyly

kryzysem

reliance on sth I polegan le na czymt,

zale±nosd ad czegos

vulnerable (to sth) beobroony (wobec

czegob). 'ooazooy (a coo)

disruption I zukiOcenie, wstrzqs

,-forecast

prug0000wany, proewdywany

slowdown (spowoin onie. caste

(rp ekonorr cony)

'to affect sth I wplynu,c na coo met na con

wplyw

demand

I P o n t

confidence I zoufanie pewnosc

'to cut sth to nth ( obciyd, ogran ezyc do

pewnegu poz omu

prediction

przewdywarie, przepowiednia

annual ( roczny

estimate I wurlosd szucunkow

w przylbl i teniu

public budget deficit I deficyt buddetu na

wydatki publczne

national debt diug pvdstwuwy

focal point I ogn oko (soczewki),

to

znsudniczu kwentia, punkt centralny

Danish Economy

Bounces Back'

percent due to the continuing banking

troubles and a depressed' housing mar-

ket Denmark's reliance on" exports

contracting eans that its economy in extremely

vulnerable to disruptions ' in its neigh-

bors' economies. Germany and Sweden

together buy a quarter of Denmark's

exports, so the forecast" aiowcltaweia"

__________

f both economies negatively gffgce."

Denmark. Lower clemandu and a drop

in consumer confidence had the Dan-

ish finance ministry

ceetfbng"

its own

predictions" for annual' growth to I.]

percent, down from its estimate" of 1.9

percent in May.

mark was the first northern European

country to enter recession. Gross Do- Since public budget

deficits'

and

DSo

mestic Product (GDP( dropped by 0.5 tional debt' have become focal points,,

o the first quarter of this year and

the fourth quarter of last year,

analysts had shown Denmark's

economy to be contracting,

a trend which was reversed' in Q2 of

this year.The Danish economic numbers

are being watched with special interest

this autumn because of the impact they

have on parliamentary elections, which

must take place by November.

One of Scandinavia's

weakest economies

The numbers ofQ.L' signaled that Des-

14

Business EvgInh Magazine


15/100

across the EU this year, with dire" num-

bers in countries like Greece, Portugal

and Ireland, the policies of Denmark's

center-right government have come

under scrutiny

from all quarters. The

government's muif.uco' reforms in re-

cent years have generally been seen as

financially positive, and yrtomployment'

'dire I tragiczny, skrai ny

"to come under (close) scrutiny I zostac

(dokiadnie) zbadanym przebwietlic ova

'welfare I zasilnk (opivki spoletznej

to system op

eki spvlvcznel

unemployment I bezrobncin

'to loom over s I wisinc nad kimf, winioc

w powietrzu

'aforementioned I wyze j wymien i onyl

vspomniaay

unsettling I n npokolty

'accustomed to sth I p rzyz

w y czaj any do czegoh

"surplus I nadwy2ka

'stimulus package

I

pakvtdolacji, nubwnncje

rzydowe (w czasiv

kryzysu)

to at t ribute sth to sth I przyp isywad cob

tzemus

t o i n s t i g a t e s t h I

WSZtZht ton

t o j u m p - s t a r t s t h I

przynrocit

too do 2ytio,

zroanimowad

in the country is still below 5 percent,

but a large number still looms over' the

current government. Government econ-

omists have forecast a USD 16.4 bin

deficit for she government i

n

2012, cer

tainly not the troubling numbers seen in

the aforementioned" countries, but still

uosevt.ng for Dunes accustomed to'

budget

mirpiu.ses'.

Financial

stimulus package

3 5

Part of the deficit

will be attributed

to' certain programs instigated by

the government to jump-start"

the

economy and help aolldify" the afflict-

ed' banking industry, which saw two

regional banks fail in February. Passed

in August, the bank rescue package is

an attempt to shore up" Danish banks

before the European Union needs to

become involved4 . Similar to the bank

bail o u t in t he United S tates t h ree

years ago, the package will identify

which banks are 'too b ig to fail , guar-

anteeorrgf.nucuce' certain overexten-

u u o ns ' b y nati onal bank s (as much as

USD 33

bin) and buy

up some of the

banks' bad

loans " so that larger banks

may buy smaller ones without the risk

of their toxic assets". The steps this

program will take have been viewed

positively by Standard & Poors as well

as Moody's, contributing tolo a new

feeling of consumer confid ence in th e

co untr y.

' to solidify I utrwali

t,

wzmttnit

'afflicted I dolknigty, tvrpiyty no ton

to pass I uchwalit (ustowy)

"to shorn s ib up I pode przec podlrzymat ctb

to become involved I zaanyadtwatsç

W tos zostac zaanga2ownnym

' b a i l o u t I

dafinanoowanv subwentja

"too big to fail I zbyt wielki, by splajtowac

(0 bankath

i

organcnacjatb f inansowych)

to refinance I zet'iwnowat ntrzymnt

ponowny zastrzyk gotowki

o v e r e x t e n s i o n I p r o l o n g a t a o k r e n u s p l a l y

k r e d y t u ponad

term in karonci

b a d l o a n I k r e d y t b e z s z o n s n o s p l a l y

"toxic assets I obtydony mojytek, aktywo

z ran awnymi abc o2en ami

t o c o n t r i b u t o t o s t h I p r z y c z y n 1

at sif i do

'Prime Minister I premi

er

1 2

lagging I pozostajty w tyle spowoln nay

Household consumption

dropped by 0.3 percent

countered by a 4.5

percent increase in

pu blic spending and

investments even

without the stimu lu s

package.

Danish Prime Minister Lars Loekke Ras-

mussen's USD 2.1 bin stimul

u s plan was

designed to increase consumption and

start to repair the iuggititg' housing mar

ker .

The stimulus package, called 'Sus-

tainable Growth'," would supposedly"

not contribute to country's iotig,i.errri"

debt and would be aimed

directly

ug'

the

Danish property

marketsa with tax relie

~

l

and lessenV

estr ctions on

new

bruise

purchases '

The plan also

culletifoc infra-

structure improvements and more

pethbc

upteti.djng" to create more jobs. Still, due

to the lagging popularity numbers of Ras-

mussen and his party, and the new GDP

numbers showing that the need for

such

a stimulus is not as severe" as initiall

y

-

thought,

it is most likely not going to re-

ceive enough votes in parliament to pass.

R

ecover

y e o

In the face of'- government and ana-

lysts' predictions, the Danish economy

squeaked through recension in ON

-

housing market (iyrivk mieszkan owy

"sustainable

growth I staly/stabilny

wzrost

supposedly I rzekomo ponoc

long-term I dlugotorm nowy

'to be aimed at sth I byc nkierowanym na con.

"property market I rynek nivruchtmosc

- tan re lief I a lga podatkowa

loosening I

pomnieszaycy

NO

purchase I nabytek

to call fo r sth I wymagaf czvgos d omagat

Oifl tzegob

public

spending I wydutki publiczne

"severe

I dotkl WY nutty

-

initially

I p ierwotnie, no pocztytku

'recovery I odzyskwaniesl zdrewivniv

' i n t h e f a c e o f s t h I w o b l i c z u t z e g o s

'ts squeak through sth I lakoo/ledwv przez

con pnzebrnyt

Business English Mognen

15


16/100

Q2 by showing I -

growth. The grov

Q2 also required

numbers for Q

ti

be recalibrated"

positively, mean-

ing that techni-

cally, since it

did not sAtL

mate

xperi

-

ence

ec,ono.mic

contraction for

three consecutive72

quarters, Denmui

was never actuall

a recession. Desp

passing 'Sustainable Growth",

government spending was the driver'

for the rebound, this according to Sta-

tistics Denmark: "A small decline in'

household' consumption was more

than balanced

.out by increases in public

spending and investments, so domestic'

demand rose by 1.6 percent." Specifically,

household consumption dropped by 0.3

percent, countered

-

' by a 4.5 percent in-

crease in public spending and investments,

even without the stimulus package.

Despite the positive numbers, officials

and analysts in Denmark

cemu.jn"

cau-

tiously optimistic'. Danske Bank chief

economist Steen Botian said that "We

will not see impressive' growth, but we

will see growth nevertheless"." jyske

Bank economist Peter Skottegaard sees

real reason for caution. "We see a risk

' tn recalibrate I wyonacoyb pono mnie normy,

ponownie skulibrowac (wartoici)

"ult imately I ostutecznie

"economic cont raction I regnes ekono miczny

,kurtzenin Of' gospodonk'

"consecutive I kolnjny, naslflpujayy posobie

"driver I motor, s i lo napfdowa

"rebound I odbicie s ip (ad dnn), powrbt do

normy

"decline in sth I opadek tzogob, obrobonie

czegob

"household I gospodars two dom owe

'

-

to balance sth out by sth I wyrdwn ab tab

czyms zrdwnowazyi cob za pobred nictwem

czegas

'domestic 1 krujowy

' to counter I sparowab. odeprzob cm

to remain pozostab

'cautiously optimistic I umiarkowan ie

aplymistycony

-

growth again,

'e think there's

n a bit of a re-

ound in invest-

ment." How the

government

deals with

those eco-

nomic risks is

the mat.otJsv

sue' in the au-

tumn elections

in enmark,

ith the solutions

forward" by

jor political par-

ties involving Danes working

more, either increasing daily work-

ing hours or increasing the retirement

age'.

an gsu.r.go" in productivity per

worker which also runs the risk of u.d

verset' affecting unemployment yam-

Outlook9 2

Government

labo_r '

policies and corpo-

rate tax rates", combined with their

effects on government spending and

deficits will be the major

indicators"

through the rest of this year and be-

yond. Denmark employs a program of

public wage

7

subsidies which while e.du

jngJtr" increasing the spending power

can negatively affect competition". The

federal corporate tax rate is currently

25 percent, but there have been some

impressive I imponuja,cy

nevertheless I pomimo to, niomniej

e d

flak

' to deal with sth I poradzii i sobie

Z czymb

"major issue I is totno kwe stio, wuzny

problem

to put s th forward I zupropo nowab cot,

przedstawib cob

"reti rement age I wick emoryloiny

"upsurge

j

przyplyw. wzrost

"productivity I p rod uktywnobb. wyniki

"to run the risk of sth 1 oura2ub Sifi nu jukieb

ryzyko

' •adversely I nepatywn ie

"outlook

I

prognoza. pnrspektywy

"labor I pracu. zutrudnionie

"tao rate I stuwku pod atkowa

"combined with I w potpczvoiu

' indicator I wskuznik

Since public budget

deficits and national

debt have become focal

points across the EU

this year, with the dire

numbers in countries like

Greece, Portugal and

Ireland, the policies of

Denmark's center-right

government have come

under scrutiny from all

quarters

proposals to gradually" lower it, while

ioserseit" abolishing subsidies in an

effort to be deficit-nnutral.The current

public sector deficit in Denmark stands

as" 3.8 percent of GDP, with next year's

forecast to be even higher, on 4.6 per-

cent. Federal financial

.g' urecormi,

punyclld by" data showing that the timn

come" gap ' between the poorest and

the richest

citizens"

has

skyrocketed"

in recent years, growing by 25 percent,

a larger surge than in any other Euro-

pean country in recent years. Shocking

numbers for a culture that has always

Kidd itself on" being egalitarian".

Thus, despite the good news in Septem-

ber, the new government in Denmark

certainly has its work cut Out for it". •

"wage ) plots, aorobki

"to aid in sth I pombc a czymblz czymi

"competition I konkurencja, rywulizacja

gradually

I

otopniowo

inversely I sdwrotnin proporcjvnalvie

to abolish

I

alikwidowuk, obalib

to stand at I wymosif, stanowib

woes I problemy, kfopoty

to be (further) compo unde d by sth ) (jeszczv

bardziej) cob skomplikowab, pogorszyc

income 1 dodd, przychsd

gap , luka prze pusit

citizen I obywatel

to skyrocket I gwallownie wzrosnpi

to pride on eself on sth ) szczycid 5ff

taymb

egalitarian ) egalitumny, dojpty rO wne

moiliwosci

to have one's work cut out for him I miob

pond sobqtrudne zudanie

16 Business [,yiih Magazine


17/100

EUROPE

January 2001

At the turn of' the new year Greece

taken the monumental decision to ditch

the drachma, in favour of joining the

euro. In doing so, Greece becomes the

I 2° country to adopt the single cuuu

ygcy".The euro's monetary enforcer',

the ECS (European Central bank), ad-

vises that the country should improve

its economy.

November 2004

Alarm bells start to ring as the Greeks

tome clean about' providing mislead-

ing financial information in order to

join the euro. The Greek government

says its deficit has not been below 3 per-

cent since 1999,going against Eli ce.guia

tions".

March 2005

The knock-on effects of Greece's

honLnr of the 2004 Olympics cotc.g

back to haunt' the country. The cost of

s t a g i n g the event is a crucialki factor in

the imposition" of austerity

.meauurm

aimed at

cory(n'

a spirallin

g" deficit

and restoring' the ifogging public fi-

nance sector.

'turmoil I wrzawa wruenie

debt zadlu±nnie

to threaten

zugrozid

'to rock sth to its foundations

wslrzasnad

czymt w posudath

'to pick up sb's tab

splucid czyjei dlugi

floundering

kulvjhty

at the turn of sth

no przelomielpoczhtku tzegoi

to ditch sth

I

porzucid, erezygnowak z czogot

'in favour of sth I na rzecz czegob no korzyfd

cz000s

'currency I wulutu

enforcer I Is' organ syknnawczy

,,to improve I polepozyd, usprawnid

'alarmbnlls start loringl odzywa sip

dzwanek ularmowy. pojawioly sic vygnaly

niebezpieczehntwa

to come clean about sth przyznui sip do

czegos

misleading I mylyty, wprowadzajhcyw blhd

'regulation I przvpis, uregu Iowan lo prawn

Spring 2006

For a

brinf'

period, optimism smuops

through" the nation and beyond, as it is

an-

nounced- that

s up 4.1 percent.

knock-on effect

etokl domino

to host sth byd gospodarzom ozogos

to come back to haunt sb

I

ciqyyd komud no

sumieniu, wrncic w dwdjnosôb (np. po zlym

uczynku(

"to stags sth I upozorowac cob, to: zorgunizowad

'crucial I dvcydujo,oy. r075trzygaj2

jcy

"imposition I narzucvnie, wymunzonie

"austerity measures I (draslycznn( irodki

osztzdnoiciowe

'to cut sth

ng ran iczyc, zredukowud tob

'spiralling (wymykajpy sip spud konlrali,

wzrastacy

"to restore I ndoowid. przywrdtid

flagging I slabno,cy, opuduja,cy a nil

'brief( kndtki

to sweep (through sth) I przvlatzud vi

(przoz cot), ogurniad (cob)

"to announce I oglouib

GDP (Gross Domestic Product) I PKB

(Produkl

Kruiowy

Brutlo)

Business English Muqunirn 17


18/100

November 2009

urnbloa'

of discontent emanate from

the markets once again as the sunshine

biaaiates" and storm clouds gather.

Global financial crisis does little to

ease

Greece's rudderless t'ligh_n' as the na-

tional debt hits EUR 263 bIn up from

EUR 168 bin four years previous.A new

socialist government led by Prime Min-

ister" George Papandreou admits" that

Greece's debt will be double the precious

official estimate

,,

at 12.7 percent of GDP

December 2009

More doom and gloom as rating agen-

cy'

Fitch slashes- Greece's investment

grading"

for the first time in 10 years

from A- to BBB+, leaving it below the

investment grade. Fitch cannot rule

our'

the

prospect"

of further downgrading.

January 2010

A stability programme is introduced" to

reduce the deficit to 2.8 percent of GDP

by 2012. An end to tax

privileges".

anti-

fraud' measures and an exceptional"

wealth tax" are put into place along,

side' an increased ie" on tobacco'

and alcohol.The intention is to increase

fiscal revenue by EUR 2.3 bin.

"rumble I po rn ruk. ywar

-discontent I niezadownlenie

"to dissipate I rozpreszyui, rvzpuitid

"storm clouds gather I zbiera uif na denote,

zbiorajasif (czarne) chmury

'to ease I zlalodziO, natal

"rudderless I niesteruwny. pozbawiony culu

'plight I trudna uytuucjs ciçkie peloSenie

"Prime Minister I premier

"to admit I przyznawaf

estimate I wurtoid uzucunkuwa

'doom and gloom I ta ole wieici

"rating agency I agentja ralingowa

"to s lash I nbn i±yO (drastycznie)

'grading I klauytkacia

"to rule sth out I

wykluczyi

cot

"prospect I perspektywa, szansa, mo±liwoic

downgrad ing I redukeja, obni2anie klasylikacji

'to introduce I wpruwadzif

s

,

tax privileges I ulgi podatkvwe

"fraud I oszuvlwo

"exceptional I wyjv,tkawy

'wealth tat I pudalok od

malgiku,

pndatok dla

zamninych

The country witnesses

a rise in taxes on fuel,

cigarettes, alcohol and

luxury goods.

March 2010

Greek

citizens"

are forced into" taking

lower bonuses and paying higher taxes

to prevent' the country from going

bankrupt'. The measures include pen,

sin freezes, cuts in public sector pay

and an increase in sales tax from 19 per-

cent co2l percent.

The country yy,jciesses' a rise in tunes

on fuel, cigarettes, alcohol and tuucu.r.y

goods". Although the cuts are barked"

by the EU, Greek trade unions" object".

fearing that" the reduction in bonuses

will not end after the crisis. Prime Min-

ister George Papandreou

l ikens

the

budget crisis to" a "wartime" situation"

whilst the unions threaten strike action"

April 2010

A EUR 30 bin multilateral" financial res-

cue package" is approved" by EU min-

isters with the IMP"

pla.dgin"

a further

EUR 10 bin over the course of the first

' - to put sth in(to) place I p rzygo lowud co b

do wdro±eniolwprowadzenia a Syne

"alongside I ubok. poy

"levy I podatek eplute np. importowa)

"tobacco I tylod

"fiscal revenue I przy chdd tskalny, wplywy

z podatkôw

"c i t izen I o bywele l

to force sb into doing sth I wymuuii vu kimi

zrob ien in tangos

to prevent sth I zupobiec czemuu

to go bankrupt I zbunkrutowad

"pension I emerytura

to witness sth I duswiadczyd czegoi, byd

iwiadkium czegos

"luxury goods I prudukly zbytkowne, towury

luksunuwe

" to back I wesprzek, zuaprobowod

'trade union I zwirtzekzawodowy

"to object

sprzeciwiad sip

"fe aring that. .. I z o bawy, 2e. . .. v nbawy o.

"to liken sth In sth

I

upndobnid cot do czegei

wartime I cons wojny

'strike action I podltcie strajku

year. Greece

refuses"

to activate the

package. PM George Papandreou says in

a statement", "With today's decision, Eu-

rope sends a very clear message that no

one, any longer, can play with our com-

mon currency, no one can play with our

common fate"."

Greece hopes to use the capital as

a buffer to ensure" that investor conE-

dunce" is restored.The news is temper-

ed" later in the month, when Standard

& Poor's downgrades Greece to 88+

causing markets to panic.

May 2010

The month of May sees Greece

plagued' by a series of strikes, in which

three people die and a bank is set on

fire". Another rescue package is an-

nounced, amounting tov EUR ItO bin

over 3 years. The euro receives a EUR

750 bin safety net"

,

to-placate"

,

the mar-

kets amidst fears that the Greek crisis

might be contagiotes".

July 2010

Pensioners suffer" as benefits" are cut

as part of the EU/IMF package.Women's

retirement age" is also raised to from

60 to 65.

mo It lateral I wielostronny

"rescue package I pakiel nubwencji

"to approve I zaaprubuwnd, uzrad

" IM F ( In te rnat ional Mone ta ry Fund) I M WF

(Mitdzynarodowy F undusz Wvlalowy)

to pledge I zo bow igzat s i . przynzec (kwuty)

'tu refuse I edmawiaii

"statement I oiwiadczenie

" fa te I I on

'buffer I bufur, zabezpieczvnie

to ensure I zapewnid

"investor confidence I zaufanie inwestorôw

pewno ii t inwestorbw

"to temper I z lugndzid. nsludzid

'to plague sth I drycryd con, nykad tea

'to set sth on fire I pudpalid cud

"to amo unt to I s tenowid, wynnviir

'safety net I siatha auekuracyjna,

zabezpieczenie

to placate

I

uspokoid, ulxgndzid

"contagious I zaka±ny, zxrazliwy

"to suffer I lulcierpied

"benefits I iwiadczonia secjalne

" re t i rement age I wiek emenyta lny

18 Orxieeee English Magazine


19/100

Wth todays decision,

Europe sends a very

clear message that no

one, any longer, can

play with our common

currency, no one can

play with our common

fate.

May 2011

Uncertainty" about debt restructuring is

fuelled" further.Tlse government hopes

that the EU and IMF will extend loan re-

puyments'.The [CE is having none of it

though and

u.tgm'

Greece to pursue

its budget cut and privatisation okllga

tiouu'.

Greece

daly" ob.iiguu'

by

un.v

veiling" a series of privatisations.

June 2011

More social unrest" on the streets of

the capital, as the government agrees to

cut jobs in the public sector.The govern-

ment lashes out ut' Moody's for rating

the economy seven notches— into funk

territory. It believes it has made more

than enough effor_t" to put its house in

order-. Eurozone ministers agree to

German proposal

1,

for a 'soft restruc-

turing' of Greek debt. The markets are

in disarray" as they react to lack of

"uncertainly

nivpewnoid

"to fuel sth

I

napqdzac, podsycak cvi

"to extend loan repayments I wydludyd vkres

karencji

"to have none of itlthis I nie thtied a czymi

slyszei

'to urge I zachcad, pvnaylad

"to pursue I dayi, pvszukiwad

obligation I zubowiqzanie

duly I nale±ycie, zgndnme z planvm

to oblige I wyiwiadczamt przyslugf,

wypviniamt vbivtnmc

to unveil I o dslonimt

social unrest I niepukuje spvlecznv

to lash out at sb I zaatakowamt

kogoi

notch I szczebel, stopiei gradatjm

junk territory I nbszar smieci, tm: najnidnzy

standard

political certainty, and disagreement'

between European leaders is tited..au"

a major reason for their yojaEiliay'.

September 2011

A new property

gax''

is introduced to

combat' rising inflation as part of an

international bailout package and pro-

testers clash' on the streets of Athens

as a result of the austerity measures.

the plus

oide'',

EU presidentJose Manuel

Barroso urges other states to accept

more integration and states that Greece

will remain a member of the EU.

Late September

The prime minister goes on a charm

o L -

fensive" to convince" fellow" EU lead-

ers that Greece can meet the demands"

required

to. fuif i l"

the austerity measures

imposed on" it by the austerity plan.

to make an eff ort to do sth I wysillO sic,

uprvbvwud cub zmnbid

to put one's house in order I dvprowadzii

swojv sprawy do porzqmlku

proposal I prnpozycja

to be in disarray I byk po grq±onym)

w z amycie/chausie

disagreement I niezgodu, rvzvica zduñ

to cite sth as sth I przytaczamn cos jako

przyklad ma cob/tangos

volatility I nitstubilnobd, nmeprztwmdywalnnimt

115

property tax I pvda e k vd nieruchomuici

' to combat nth I zwalczud cub, walczyf

a cayms

1 1

,

bailout I dofinannvwaniv, nubwencja

1 1,to clash I cdenzad ny icmvrad sip rn soba.)

'an the plus side pu strvniv plusOw/zelvt

charm offensive knkietowanie,

wdziyczene s ip

A European Financial Stability Facility

(EFSF) is approved by the lower house"

of Germany's parliament and is expected

to be ranif'ied" by remaining EU parlia-

ments in Malta, the Netherlands and

Slovakia. Many believe the measures are

otsogling" the Greek economy and

pisuogiug" the country further into eco-

nomic turmoil. Athens sees more pro-

tests as international inspectors decide

whether or not Greece should receive

a further EUR8 bin.

The EU and the euro remain uinde.c in-

tense prnaostre" as ministers and ana-

lysts argue over the germ'' of bailing

out Greece. Further "haircuts" are

planned for Italy and Spain as they too

fall further into debt, The only hope is

that EU powerhouses" of Germany

and France have got it right and that the

euro can see out-what is its toughest

test to date".

to convince I przeknnaö

"fellow

kniega (op. pvfucbu)

to meet the demands I sprostai wymnyom,

spe/nid wymvgm

to fulfil (wype/ni& npvinid

121 imposed on sb I narzucnny knnub

lower house I izba niasna (pnnlamenlu(

"to ratify I ratyfikawaf, uznni prawns

"to strangle I dusimi, tlamsimt

1.19 to plunge sb (into sth) I pogrq±ad kvgoi

(w cob)

under pressure (pod presjc

merit ( zaletu, wanlvid

haircut I strzyienme, mm: drobne cmfcie

budOetowe

powerhouse (sila, pategu

(np gnspudarcza)

to see sth out I przetrwut cm

to date (dv chwili obetnej

Bsiess English Magazine 19


20/100

o highlight this continu-

ing trend Forbes magazine

U U

ccrnpiie.0 an annual list

of the 100 most powerful

women in business. Most names in

the 2011

rchi.coll"

have high posi-

tions in a variety

,

of international

corporations or play main political

roles in the world.

The characteristics of these women

are not very much different from their

male counterparts' when it comes to

intelligence, vision, and determination.

Nonetheless' many of them privately

admit to- feeling that achienin' suc-

cess in their careers took them more

20


time and energy than it would have for

ork pays high profits-

,,

to stockholders

men. round the world and one need look no

further than the two companies that

The 100 women listed pooaeos'agreat

elivered the best results in the stock

deal of power and prone that ladies in

arket in 2010 to emphasise' this fact

key leadership' positions can easily do

Dupont and Kraft are both led by

as well as gentlemen if not bettetTheir

omen.

to highlight I naswietlih, uwypuklib

to admit to doing sth I

przy705wu6 vig

' Is compile I tworzyc, ukiadaf

o (z)robieniu czegeb

"annual I doroczny. roczny

o achieve I osiu,gnyc

"roll-call opel, ezytanie l is tyobecnohti

to possess I posiadah

'variety rOOnorndnebk rozmuitnbh

leadership I przywOdztwe

"characteristics cechy szczogilne

o pay high profi ts I harden sig oplatik

counterpart I odpowiednik

tockholder I ukcjovoriusz. udziulowiec

"nonetheless 1 ponnimo to, nienlniej

o look n o f u rth er than I n e mocha doleko szukod

jednek

to emphasise I podkreblad, uwypuklod


21/100

INTERNATIONAL

When important lists

containing prominent'

females are published

by Forbes, there is

a sense that some

men feel envious3

or at

least a bit irritated. In

the past, women were

often downgraded to

subservience5

roles,

but in recent times

female executives

stand out in big

companies throughout

the world. Dave

Leonard reports.

prominent I znaczqcy. wybitny

'sense I poizucin. odczucie

,envious I zazdrosn/

'to downgrade sb to uth I umniejazyd

tZyldS 10

aczen e

subservience I a egleoc. sluzalcznsc

' exec ut ive I dyre klnr muradde r szczeb la

k ero ivriczego

' to stand o ut I wyrvzn ioc siq,

lx. wystgpowac. pakazak sq

While financial success is an impor-

tant factor, not all the women listed by

Forbes can have their success qaua.tL-

fled in numbers. Let's see then who

counts most in today's female world.

At number one, German Chancellor"

Angela Merkel steals a march tin" Hil-

lary Clinton and retakes27 the leading

position from the American fjrotL.ady",

Michelle Obama. Merkel, aged 57, also

ranks 6" on Forbes' Most Powerful Peo-

ple list. She leads the European economy

and has a say in" the most crucial

0

eco-

nomic and political matters in the Euro-

zone and beyond. While the American

economy is still fighting recession and

Europe is deep iri the mire" of a debt'

crisis, Merkel oversees' a thrivin

g

,,

Ger

-

man economy which

boasts

falling un-

employment rates". She also supports

education and tax reforms in Europe,

wants to steady' the EU debt and calls

for euro- ntegration.

Many women

privately admit to feeling

that achieving success

in their careers took

them more time and

energy than it would

have for men.

Number two is US Secretary of State"

Hillary Clinton, aged 63. As report-

ed, she has no plans to take part in

the forthcoming' US election race,

although Mrs Clinton has made o.i,g.

nificunt"progressinbuckin"woaaen's

issues, education and development

overseas.

Sitting in third, we have Dilma Rous-

seff, the president of Brazil, aged 63.

She was the first female Chief of Staff"

under President Lula da Silva, and took

his place as president of Latin America's

largest economy just five years later.

"to quantify I prze l iczyt ,podacilobc

"chancellor I kuriclera

to steal a march on s I wyorzedzic kngai

"to retake I punown e zabrac odzyskut

'First Lady I perwsza damn

to have a nay in nIh I miec cob do puwiodzen a

w i u k 1 e n kwest mioc (decyduixcy) glus

'crucial I decydu1qcy, ruzstrzygalqcy

( to be) in the mire I znalezd viqwvpvloch

'debt I zvdluienie

to oversee I nadzvrowat

"thriving I twilnqcy. dabrze pros perulpcl

"to boast I chwalic viq szczycic viq

"unemployment rote wska±nik/vtopa

bezrnboc a

to steady I ustabilizawac

'Secretary of State I sekretarz stanu

'as reported I iukdon iesiono, zgodnie

a otrzymanymi info rmacjami

, , ,forthcoming I nadchvdzx,cy,

zblizajx,cy sq

significant I znaczny, znaczycy

Nicely posed" in fourth position is

Indra Nooyi. the Chief Executive" of

PepsiCo. aged 55. It iswortftpoincin

out17

that Nooyi is the most powerful

woman in U.S. business for the fifth

year in a row".

Fifth place is taken by Sheryl Sand-

burg, Chief Operating Officer" of Fa-

cebocvk, aged 55. After her comes

Melinda Gates, wife of Microsoft Corp

co-founder' Bill Gates, founder of Bill

& Melinda Gates Foundation, aged 47,

then Sonia Gandhi, the President of In-

dia, aged 64.

Eighth comes in Michelle Obama, First

Lady of the USA, aged 47, next Chris-

tine Lagarde, Managing Director' of the

International Monetary Fund", aged 55.

Completing the top 10 of female big ihit

curs" is U.S.

pacuciol"

Irene Rosenfeld,

CEO of Kraft Foods, aged 58. Her suc-

cess has already been described above.

Some of the less prominent women to

make the list are- Judith Rodin, president

of Rockefeller Foundation (71"), Zhang

Xix. co-founder of real-estate" empire

SOHO China

(48h),

Denise Morrison,

CEO for Campbell Soup (80'). Yinglack

Sinawatra, the prime minister" of Thai-

land (58") and Josette Sheeran of World

Food Programme (30").

1 1 1 0

"to back wvoprznc poprzec

"overseas I ax gram tq

"C hie f o f S tu f f (C eS ) I S ze f S a tabu ,

lu vekrotarz genera ny

"poised I urn i ejscvw i on y, to przygvtnwany

golowy

"C hie f Execut ive I dyrek to r nacze lry

"itis worth poi eling out that I naxby

zouwobyc, Se ..

in a row I a rzfdu

"C hie f Opera t ing Off ice r ( CO O ) I dyrek tvr

dv. operacy

-yc

"co-founder I wvpdlzvlozyciel

"Managing Director I dyrektor naczelny,

dyrektor zarzqdzaj4ty

"International Monetary Fond I

MiydzynarodowyFunduszWalutvwy

'big hitter I grubarybv waznygracz

"national I ubywulel

"real estate I n ieruchvmovc, poirednictwv

w hard u nieruchomvsc am

"pr ime minis te r I premier

Business English Magazine 21


22/100

INTERNATIONAL

Angela Merkel

Hillary Clinton

3

Dilma Rousseff

lndra Nooyi

Sheryl Sandberg

Melinda Gates

7

Sonia Gandhi

Michelle Obama

9

Christine Lagarde

Irene Rosenfeld

According no' Forbes representative Caro-

line Howard, there was a pool" that began

with 200 candidates. The top 100 were

selected from the categories of business,

media politics, n profita', billionaires and

entertainment/fashion. There are certain

categories which Forbes used in order to

create the listThey looked at company

ccv

ease"

in the past year for women in busi-

ness and media, they checked

nalacies" as

well as ODE" for politicians.

Media

yofahci'

was also taken into conairi

erasoo'.

Forbes looked into

,,

TV and radio

appearance m, and went through Facebook

fans, YouTube views and Twitter followers.

It scored" each candidate's

impact"

and

verified whether each woman reaches just

a single group or has a whole sphere of in-

fluence". All of this was calculated for the

12 months through August 2011.

IMPRESSIVE" FACTS

REGARDING THE TOP 100

WOMEN ARE AS FOLLOWS:

•

Seventy-four of the women are

list returnees-

*

Together, the women control

about USD 30 trillion

• The average age is 54

• 29 are CEOs

• Eight are heads ofasatu"

• 22 are single

•

88 percent are mothers

22 Business English Magazine

The list is

ofted"

and extraordinary", as

Once the list was published there were

journalist Caroline Howard says:"There's

more calls for greater female presence

nothing static about the list. Nearly half

at the highest levels of business. Because

the women are

flratdirners"

or are back

of the emotional intelligence they pus-

after dropping off. Some changed jobs

sons, women are thought to bring diplo-

since last year, some were promoted, but

many and understanding to the work-

all of them are great at what they do:'

place. Even the Dalai Lama, when visiting

U.S. President Barack Obama last year,

Last year only saw one

solitary."

British

expressed' his wish for more women to

entry"

- Queen Elizabeth lIThe Queen

be offered top management roles.

managed to keep up" her position as the

most powerful British woman, and 49th

The sphere of business may be

pete

in the world. Behind her were Helen coined" by

some people as purely"

the

Boaden, the director of BBC News at

domain of males.That said, the list of the

number I

nd

illionaire

uthor J.K.

100 most powerful women celebrates"

Rowling, racking 61". There were only

the presence of females in the world of

seven ritish

ntries

ltogether,

ot

business as well as appreciating the hard

good news for the country overall,

work they do.

'according to

zgednie z, wedlug

regarding I udnobnie, co siytyczy

pool I pun bank

as follows I to nnstypuje, ponibej

,,nonprofit

to. erganizacja nonprofit

returnee I

esoba, powrncaja,ca gdzieh

"revenue I

dechód, wplyw

0 (dlogioj) nioobvcnodcu

"salary

p e n s j u

head of state I glowa pa/nina

"Gross Domestic Product

Predukt Kralowy

varied

zrbbnicowany

Brulle

extraordinary nadzwyczvjny

"publicity I naglesnienie

first-timer I potzgtkujaoy, dvbiutant

"to take sth into consideration

I

brat cob pod

to drop off I odpabt, wypaso jz wytciguj

uwag

solitary I samotny, odesabniony

"to look into sth I obadat tea przeanolizowat entry I utzestnik

"appearance I w ystfp, wystajdenie

to keep sth up 1 utrzymat con

'to score I punktowat uzyskat wynik

to express I wyrazic

"impact wplyw

to perceive I pastrzvgak

sphere of influence

I

sfera wplywO w

purely I tzynto, wylycznie

impressive I

im

Pon

ujqcy

to celebrate I kwi/lownk, wyslawiac


23/100

L F C S

1512

he popularity of this collection

of lingerielD,

costumes sex toys,

inflatable dolls', and other un-

mentionables" emonstrates

a

13

in China and other

parts of Asia, that cultures once viewed

as extremely conservative are begin-

ning to loosen up' This trend, along

with the increased,& spending power of

the Chinese burgeoning middle class, is

a new industry in China, which

forrnon:l" had manufacture6i such

products

solely"

for western clientele'.

A bustlin2

2 4 business

With the roe-try being a global manu-

facturing center, the

irnp.cioe"

'Made in

China' is seen on many things you can

buy nowadays", and sex toys are no dif-

ferent. 70 percent of the world's sex

toys are produced in China, by nearly

1,000 different manufacturers head-

quartered" in the country. This industry

is worth in the neighborhood of" USO

2 bIn per year and there's stil a lot of

room for growth", according to

insiol

As a global

manufacturing

center, the imprint

'Made in China' is

seen on many things

you can buy nowa-

days, and sex toys

are no different.

sizzling I namiçtny, gorn,cy

to hash I bycgospcd000mcdegoo , nranacasaccxb

annual I doruczny

'adult I dorosly, fu: erotyozny, dla doroslych

cups I wystowa

'to service

j

ubslu±yf, lx: gobc

to gawk I gapicsiq

genera l publ ic I ogô l spoloczefs lwa, ludzie

'to delve deeper I zaglqbid

Sig

w cot

"lingerie I b elena

"inflatable dol l I dm ucbana la la

"unmentionables I innkspnymable, anlykuly

i r tymnej nolury

"growing trend

trend zwyzknwy

"extremely niezwyklo

eta".

Nanma, a producer of atasag.en-

sine"

sex toys from Hong Kong, was one

of the most popular booths" atthe expo

and is looking towards new markets for

its bargain"

toys.

to loosen up I

rozlu±niid, ztogudzii obycoaje

"increased zwiqkszxny

spending power

moo nabywczn

"burgeoning I pleniqcy s i c , rodzqcy sig

'to drive lnapcdzad

"formerly

I

poprzodnin

'to manufacture prodokowno

"solely I wylqczne

"clientele 1 klientelu, klienci

"bustling I tqtnicy±yciom

"imprint I nodrik

'nowadays I teraz obecnie

"headquartered

I

majqcy owq siedzibp glOwro,

'in the neighborhood of 1w okolicach,

w przyblizenej

'room for growth

I

potenqol, moO liwoic

dulszego ronwoju

insider zoufane zrddlo, informator

inexpensive I niedrogi

32

booth

I

kiosk, ntaisko

"bargain

I

okazja

Business Eugiih Magazine 23


24/100

New markets

The liberal populations in the United

States and Europe have traditionally

represented the largest percentage" of

customers for the adult industry, but

the financial crisis of recent years has

hit the economies in those areas hard'

eac'. ung"

sales of most products,

sex toys notwithstanding'. Yet although

most of the global economy has been

stuck' in the doldrums', China's econ-

omy has been expanding" at an almost

una.u.sr

.uinrubin" rate" on the back of" the

growth of its manufacturing base. With

this growth (China's economy is now the

second largest- in the world), the spend-

'percentage I pracent, udzial

10

hit s hardest I nai bole

nix) kogxd dutknyd

'10

affect

I

wplywaO, mied xplyw

notwithstanding I mime wuz ystkn.

iednakuwo±

'to be stuck

I

utkwid, otkng,d

"doldrums I pus cinzy, zaatbj

"to expand

I

rozszerzxd sig, pasxenzuc

(un)nuutainable I (nie)dajpcy ni0 utrzymad,

Iniejotabilny

"rate

I

prydkobO, tempo

"on/off the back of sth I no tie czegos, w

rezullocix azegod

'second largest I drugi coda uielkohci

"unpreceden ted leve l I n ixspofykanix (xyooki)

poziom, zadziwiajycy poziom

"border

1 granica

'foreigner I obcokrojowiec

'unacceptable j nie do przyigcia

" run-of the-mil I I typowy, powszechny

'ta announce I oglosk

ing power of its citizens is now also at

an unprecedented level". As the coun-

try opens its

borders"

more and more

to foreigners", ideas and products once

believed unacceptable" are becoming

run-of-the-mill". Pointing to the change,

Simon Nan, one of the expo's or

ganiz-

ers, announced' that "sex is no longer

a taboo" in China.

Chinese men and women used to work

and live in predominantly" segregated"

spaces, wearing nondescript" clothing

that left everything to the imagination.

There is no.doobt" that is changing, and

while pornography is still banned" in

China, sex as a subject is coming more

"taboo I temal tube, zakazany

predominantly

I w przewa2ajytej mierze

'segregated j segregowany (rasowo, picrowo)

"nxrdescript I nijaki, xzary

no doubt I be t wqtpienia

"banned I zakazany

mainstream

I

g lawny nod

to find one's way somew here I przebid sig

gdzred, dotrzed doke,ds

"status symbol I symbol atatuax xpolecznego/

ekonomicznego

"jewelry I bi±uteria

couple j Para

"expendable income 1 doobdd abywalny

"risque j pikantny

"to opt for sth j optowod no czym b

"aid I pomot (np naukowa)

"unthinkable n e do pnmysleniu

to engorge I powmgkszyd, napgcznmod

'unmarried I nmezamgzna. nienonaty

"head I dyrektor

and more into the mainstream'. Internet

porn finds its way' into Chinese homes,

and shops that sell sex toys can now be

found in most of the major cities across

China. It has become more common

that, rather than buying status symbols"

like cars or

jomofry",

young Chinese

eou.

plea"

with expendable income" want

something more riafloté" and opt

. ioc"

buying lingerie or other sorts of sex nfoa"

that their parents would have thought

unthinkable'. The market is further en-

gorged"

by independent, professional

non

marr ied"

women, another new aspect of

a modernizing China.

The Expo

Kenny Lo,

deed"

of Vertical Expo, the

company which organizes the Asia

Adult Expo, credits the open-minded'

ness' of Chinese women in their thir-

ties and forties

for"

the expansion" of

the show. Around 6,000 more visitors

attejaded' this year's expo compared

last year's. Lo said that products

predominantly purchased" by single

women, like lingerie and vibrators,

make p- nearly 70 percent of the to-

tal income of expo xxhibitors'.Those

exhibitors hail from" 13 different coun-

tries, all crying to tap into" the Chinese

and Asian markets and are, of course,

dramra..to' the Venetian Macau Resort"

Hotel for what is billed as" "one of the

leading international events" in Asia

"open 'mindedness I Imbera lnobe,

lolerancyjnohd

'to credit sth for sth j przypisywad cod

czemud

'expansion I ekspanoja, rozszerzaoie

d z i a l a In o f c m

to attend I byd obecnym, uczeslniczyc

71 compared to j w porôwnanmu do

"to purchase j nobyd

'to make up I ntanowid, wynonid

'total income j ogdl zyxku, suma docbodu

"exhibitor I wyotow ca

"to hull from I pocho dzmc

"to tap into sth j wykorzyolad )dotychczas

nmewykorzyotane) zaxoby

to be drawn to sth I byd przyciejonym do

czegod, conk pociej do czegob

"resort I kuror'l

"to be billed as I zoslac okrzyknigtym czym s,

uznxnym za cof

"evont I wydarzonie

24 Business English Magazine


25/100

dedicated

toes

showcaain' and provid-

ing an understanding of adult-related

products and services'.

This three-day event

attracts

visitors

from all over the world: 37 countries

in total, according to organizers. The

event

featured a wide arr

f adu t-

themed exhibitions: Kayama Mika,

ajapanese porn star and one of the first

stars of 3D porn movies; multi-colored

vibrators Including the 'world's smallest

vibrator'; lifelike''inflatable sex toys, in-

cluding one that resembled' US Presi-

dent Barack Obama; and well-known

American companies like Playboy.

The popularity of

the expo

has led organ-

izers to look' to conduct shows in oth-

er areas of China, such as Shenchen near

Hong Kong and Fuzhou and Qingdao on

China's east coast.Yet current host city

Macau is viewed as the deal location to

host the largest of these events

Macau

"Where Asia P ays ", claims' the Macau

tourist board, and this focmer Por-

tuguese colony is certainly cnkin,g that

motto to 'eart. Similar to Hong Kong,

Macau is Chinese in that it is under the

protection of mainlandw

,

China, but in

conducts Its own governmental

acs iv.a

des

,

"

in the

realms'

of legislation, law

enforcement", immigration and finance,

giving it a great deal' more freedom

than most Chinese cites Like Hong

Kong, Macau was handed back to the

Chinese in the late 1990s, after which

Chinese

nationals"-

have flocked to"

Macau to holiday and experience the

looser social restriction

a .The

ood

of Chinese tourists has led to such

a

cash fl"

that the economy of Macau

outpaced" even the national Chinese

economy, growing at a rate of 13.1 per

-

cent from 2001 to 2006.

Another key event for Macau's econ-

omy was the breaking of the gs.mbiutsg

monopoly

n 2002, leading many Las

Vegas casino owners", to enter the mar-

ket Such iconic Vegas brands'' as Sands,

Wynn,the MGM Grand,and ttreVenetian

have all opened casinos in Macau, where

the number of major casinos currently

stands at" 33.This has only furthered'

tourism in the region, which has actu-

ally

surpassed'

Las Vegas as the biggest

casino market in the world.The pomp-

and pageantry of the casinos in Macau

certainly rivals

those in Las Vegas, with

intricate' and elaborate" neon designs

mirroring

that distinctive " look asso-

ciated with Sin

Cigy'

in the States.

The Venetian Macau is one of the 10

largest buildings in the world by

f loor

space,

providing the ideal home for the

Asia Adult Expo. With such

incredible"

draws, it is certain that the event will

return to Macau next year, along with

thousands of tourists, making it one of

the most talked-about events in the in-

dustry.

INTERNATIONAL

'dedicated In sth I pnswicnny czemus,

declykowany coemus

'to showcase I lansnwni prnmowac

"to attract przyc uac

o o

to feature przudstawiac, ukazywat

wide array I szeroki wach nrz lwybir

91

themed I e lematyte

lifelike

I ten rstyczny

'to resemble I przypominuc

'wel l -kn own I dobrz e z n an y

to look 10 do sth

I plunoaac coo, zamierznt

9 4 to conduct I przeprowndzii

to claim I twinrdzii

tourist board rada turyntyk, lzba turystyki

"former

byly, dawriy

'to take sth to heart I braf coi do serca

traktnwuc coy pnwaznie

mainland I kontynenta fly

activities czynno§cl, dzialanin

realm I kra;na

u sferu

law enforcement I ochrnna torza,dku

publicznngo

''a great deal (of sth) I du±n welt czngnn)

to hoed sth back to ub I addac coa komus

national I obywato

to flock somewhere I tlumn o gdz nfl

przybywuc grnmadz c siy gdnien

social restrictions I ogranicoenia spnleczne

fiend I naplyw powbd±

cash flow I pzeptyw gotôwki

to outpace I pnzovtawicwtyn wyprzedzic

112 gambling monopoly I monapo (panstwowy)

nn yry hazurdnwe

owner I wlaocce

brand I marka

to stand at X

Iwynoa

c X

"to further I zwiçkuzyc promowuc

'to surpass I przewy±azyb. przekroczyc

Biacireuc English Maniaiaiee 25


26/100

INTERNATIONAL

I L I

ems in late August that

the Gulf

,of Mexico oil

spill

was still leakingil

coincided with a double

for the IOC (Internation

xl Oil Company). Having suffqred-

the humiliation of seeing arch-rivals

Exxon Mobil team up with Rosrieft in

a deal worth USD 3.2 bin OP was in

turmoil once again as 15 black-clad

officers sealed off TNK-BP's Moscow

office.

Stuff

vacated the premises

beforehand, as bailiffs investigate an

agreed USD 10 bIn share swap

,

be -

tween BP and Rosneft. The proposed

deal was met with opposition

I from

TNK-BP shareholders and the Rus-

sian government The Exxon Mobil

Rosneft announcement effectively

ridat OP out of future development

of the priced region.

Russia tough for business

The writing was on the wal h,

for BP when

(back in February 2011) controversial

websiteWikileaks released information

on the precarious relationship in the

INK-OP yprpre . Its ffadLW showed

that trucks were developing.

•

A powercrrijgg)g involving Dudley

and Hayward

[former,

OP chief

cxv

was

hamperinrI

OP.

•

Dudley shared with us [Wikileaks]

an outline-2 of information cxgurdaetg

a b)adkR campaign designed tcrpaa

pressure on him and OP.

nso

hal

ugul Oif Z czyrnu

tzyc a kimi sily,

hyl iv tarapalach

ama, i v

czerni

c, zanknyO doslfp

xputtil taint,

woriy

ziuliw pray

napolkalupdr,

akc)xnuriuxz

lie

to rule out I wyklutnyt , un emo zliwil

, prized I corny

the writ ing is on the w all I cxi wisi

w powielrzu

to release I

ujawn lc, opubl i kowac

precarious I

ninbnzpieczny niepewny

relationship I

relaclu, zwiyzek

venture przedsiywzifcie

findings wyniki(budana)

crack I pgknicie

E u

oznuka niesfabi I no sci

power struggle I walka a wludzy

former I duwny, byly, poprzedr

chief executive I dy rvklor

nuccelny

to hamper I przeszkadznc, u l rudnia i

outline I zanyv, szkic

regarding I odno inie , to s ly lyczy

"black PR (Public Relations) I cuarny" PR

budowanie negatywnego wizerunku

spôtki

to put pressure on sb

I

wyw erac no kogos

nac sk

26



27/100

BP's latest brush with' the Russian authorities

2

signaled more unwanted pubItci

3

for the o i l corn

pany as it seeks

t04

business magazine - may 31st 2011

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