Copenhagen Stock Exchange
The Copenhagen Stock Exchange or CSE, since 2014 called Nasdaq Copenhagen, is an international marketplace for Danish securities, including shares, treasury bills and notes, financial futures and options. Nasdaq Copenhagen is one of the Nasdaq Nordic Exchanges. Nasdaq Nordic goes back to the 2003 merger of OM AB and HEX plc to form OMX and is, since February 2008, part of Nasdaq, Inc.. The exchange was converted to a limited company in 1996 with share capital issued in a ratio of 60-20-20 to members, issuers of shares, issuers of bonds. In 1997 the FUTOP Clearing Center A/S, the Danish derivatives market, became a wholly owned subsidiary. FUTOP issues and guarantees futures and options on shares and interest rate products. FUTOP products can be traded electronically. In 1998, the CSE and the Stockholmsbörsen formed the NOREX Alliance, a step toward developing a Nordic securities market. Normal trading sessions are from 09:00am to 05:00pm on all days of the week except Saturdays and holidays declared by the exchange in advance.
The C20 Index, a weighted, market value index comprising 20 Danish blue chips, launched for futures and options trading. The KFX Index comprises growth companies in the medical, telecommunications and information technology sectors on the exchanges KVX Growth Market; the KAX Index is the exchange's all-share index, introduced in 2001 to replace the previous all-share index. It conforms to the Global Industry Classification Standard developed by Morgan Stanley Dean Witter and Standard & Poor's. Official site OMX Group
The Baltic Sea is a marginal sea of the Atlantic Ocean, enclosed by Denmark, Finland, Lithuania, northeast Germany, Poland and the North and Central European Plain. The sea stretches from 53 ° N from 10 ° E to 30 ° E longitude. A mediterranean sea of the Atlantic, with limited water exchange between the two bodies, the Baltic Sea drains through the Danish islands into the Kattegat by way of the straits of Øresund, the Great Belt, the Little Belt, it includes the Gulf of Bothnia, the Bay of Bothnia, the Gulf of Finland, the Gulf of Riga, the Bay of Gdańsk. The Baltic Proper is bordered on its northern edge, at the latitude 60°N, by the Åland islands and the Gulf of Bothnia, on its northeastern edge by the Gulf of Finland, on its eastern edge by the Gulf of Riga, in the west by the Swedish part of the southern Scandinavian Peninsula; the Baltic Sea is connected by artificial waterways to the White Sea via the White Sea Canal and to the German Bight of the North Sea via the Kiel Canal. Administration The Helsinki Convention on the Protection of the Marine Environment of the Baltic Sea Area includes the Baltic Sea and the Kattegat, without calling Kattegat a part of the Baltic Sea, "For the purposes of this Convention the'Baltic Sea Area' shall be the Baltic Sea and the Entrance to the Baltic Sea, bounded by the parallel of the Skaw in the Skagerrak at 57°44.43'N."Traffic history Historically, the Kingdom of Denmark collected Sound Dues from ships at the border between the ocean and the land-locked Baltic Sea, in tandem: in the Øresund at Kronborg castle near Helsingør.
The narrowest part of Little Belt is the "Middelfart Sund" near Middelfart. Oceanography Geographers agree that the preferred physical border of the Baltic is a line drawn through the southern Danish islands, Drogden-Sill and Langeland; the Drogden Sill is situated north of Køge Bugt and connects Dragør in the south of Copenhagen to Malmö. By this definition, the Danish Straits are part of the entrance, but the Bay of Mecklenburg and the Bay of Kiel are parts of the Baltic Sea. Another usual border is the line between Falsterbo and Stevns Klint, Denmark, as this is the southern border of Øresund. It's the border between the shallow southern Øresund and notably deeper water. Hydrography and biology Drogden Sill sets a limit to Øresund and Darss Sill, a limit to the Belt Sea; the shallow sills are obstacles to the flow of heavy salt water from the Kattegat into the basins around Bornholm and Gotland. The Kattegat and the southwestern Baltic Sea have a rich biology; the remainder of the Sea is poor in oxygen and in species.
Thus, the more of the entrance, included in its definition, the healthier the Baltic appears. Tacitus called it Mare Suebicum after the Germanic people of the Suebi, Ptolemy Sarmatian Ocean after the Sarmatians, but the first to name it the Baltic Sea was the eleventh-century German chronicler Adam of Bremen; the origin of the latter name is speculative and it was adopted into Slavic and Finnic languages spoken around the sea likely due to the role of Medieval Latin in cartography. It might be connected to the Germanic word belt, a name used for two of the Danish straits, the Belts, while others claim it to be directly derived from the source of the Germanic word, Latin balteus "belt". Adam of Bremen himself compared the sea with a belt, stating that it is so named because it stretches through the land as a belt, he might have been influenced by the name of a legendary island mentioned in the Natural History of Pliny the Elder. Pliny mentions an island named Baltia with reference to accounts of Xenophon.
It is possible. Baltia might be derived from belt and mean "near belt of sea, strait." Meanwhile, others have suggested that the name of the island originates from the Proto-Indo-European root *bhel meaning "white, fair". This root and its basic meaning were retained in both Latvian. On this basis, a related hypothesis holds that the name originated from this Indo-European root via a Baltic language such as Lithuanian. Another explanation is that, while derived from the aforementioned root, the name of the sea is related to names for various forms of water and related substances in several European languages, that might have been associated with colors found in swamps, yet another explanation is that the name meant "enclosed sea, bay" as opposed to open sea. Some Swedish historians believe. In the Middle Ages the sea was known by a variety of names; the name Baltic Sea became dominant only after 1600. Usage of Baltic and similar terms to denote the region east of the sea started only in 19th century.
The Baltic Sea was known in ancient Latin language sources as Mare Suebicum or Mare Germanicum. Older native names in languages that used to be spoken on the shores of the sea or near it indicate the geographical location of the sea, or its size in relation to smaller gulfs, or tribes associated with it. In modern lang
Insurance is a means of protection from financial loss. It is a form of risk management used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter. A person or entity who buys insurance is known as a policyholder; the insurance transaction involves the insured assuming a guaranteed and known small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, involves something in which the insured has an insurable interest established by ownership, possession, or pre-existing relationship; the insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insurer will compensate the insured. The amount of money charged by the insurer to the Policyholder for the coverage set forth in the insurance policy is called the premium.
If the insured experiences a loss, covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster. The insurer may hedge its own risk by taking out reinsurance, whereby another insurance company agrees to carry some of the risk if the primary insurer deems the risk too large for it to carry. Methods for transferring or distributing risk were practiced by Chinese and Babylonian traders as long ago as the 3rd and 2nd millennia BC, respectively. Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessel's capsizing; the Babylonians developed a system, recorded in the famous Code of Hammurabi, c. 1750 BC, practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the lender's guarantee to cancel the loan should the shipment be stolen, or lost at sea. Circa 800 BC, the inhabitants of Rhodes created the'general average'.
This allowed groups of merchants to pay to insure their goods being shipped together. The collected premiums would be used to reimburse any merchant whose goods were jettisoned during transport, whether due to storm or sinkage. Separate insurance contracts were invented in Genoa in the 14th century, as were insurance pools backed by pledges of landed estates; the first known insurance contract dates from Genoa in 1347, in the next century maritime insurance developed and premiums were intuitively varied with risks. These new insurance contracts allowed insurance to be separated from investment, a separation of roles that first proved useful in marine insurance. Insurance became far more sophisticated in Enlightenment era Europe, specialized varieties developed. Property insurance as we know it today can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses; the devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for'the Insurance Office' in his new plan for London in 1667."
A number of attempted fire insurance schemes came to nothing, but in 1681, economist Nicholas Barbon and eleven associates established the first fire insurance company, the "Insurance Office for Houses," at the back of the Royal Exchange to insure brick and frame homes. 5,000 homes were insured by his Insurance Office. At the same time, the first insurance schemes for the underwriting of business ventures became available. By the end of the seventeenth century, London's growing importance as a center for trade was increasing demand for marine insurance. In the late 1680s, Edward Lloyd opened a coffee house, which became the meeting place for parties in the shipping industry wishing to insure cargoes and ships, those willing to underwrite such ventures; these informal beginnings led to the establishment of the insurance market Lloyd's of London and several related shipping and insurance businesses. The first life insurance policies were taken out in the early 18th century; the first company to offer life insurance was the Amicable Society for a Perpetual Assurance Office, founded in London in 1706 by William Talbot and Sir Thomas Allen.
Edward Rowe Mores established the Society for Equitable Assurances on Lives and Survivorship in 1762. It was the world's first mutual insurer and it pioneered age based premiums based on mortality rate laying "the framework for scientific insurance practice and development" and "the basis of modern life assurance upon which all life assurance schemes were subsequently based."In the late 19th century "accident insurance" began to become available. The first company to offer accident insurance was the Railway Passengers Assurance Company, formed in 1848 in England to insure against the rising number of fatalities on the nascent railway system. By the late 19th century governments began to initiate national insurance programs against sickness and old age. Germany built on a tradition of welfare programs in Prussia and Saxony that began as early as in the 1840s. In the 1880s Chancellor Otto von Bismarck introduced old age pensions, accident insurance and medical care that formed the basis for Germany's welfare state.
In Britain more extensive legislation was introduced by the Liberal government in the 1911 National Insurance Act. This gave the British working classes the first contributory system of insurance against illness and unemployment; this system was expanded after the Second World War under the inf
Sweden the Kingdom of Sweden, is a Scandinavian Nordic country in Northern Europe. It borders Norway to the west and north and Finland to the east, is connected to Denmark in the southwest by a bridge-tunnel across the Öresund, a strait at the Swedish-Danish border. At 450,295 square kilometres, Sweden is the largest country in Northern Europe, the third-largest country in the European Union and the fifth largest country in Europe by area. Sweden has a total population of 10.2 million. It has a low population density of 22 inhabitants per square kilometre; the highest concentration is in the southern half of the country. Germanic peoples have inhabited Sweden since prehistoric times, emerging into history as the Geats and Swedes and constituting the sea peoples known as the Norsemen. Southern Sweden is predominantly agricultural, while the north is forested. Sweden is part of the geographical area of Fennoscandia; the climate is in general mild for its northerly latitude due to significant maritime influence, that in spite of this still retains warm continental summers.
Today, the sovereign state of Sweden is a constitutional monarchy and parliamentary democracy, with a monarch as head of state, like its neighbour Norway. The capital city is Stockholm, the most populous city in the country. Legislative power is vested in the 349-member unicameral Riksdag. Executive power is exercised by the government chaired by the prime minister. Sweden is a unitary state divided into 21 counties and 290 municipalities. An independent Swedish state emerged during the early 12th century. After the Black Death in the middle of the 14th century killed about a third of the Scandinavian population, the Hanseatic League threatened Scandinavia's culture and languages; this led to the forming of the Scandinavian Kalmar Union in 1397, which Sweden left in 1523. When Sweden became involved in the Thirty Years War on the Reformist side, an expansion of its territories began and the Swedish Empire was formed; this became one of the great powers of Europe until the early 18th century. Swedish territories outside the Scandinavian Peninsula were lost during the 18th and 19th centuries, ending with the annexation of present-day Finland by Russia in 1809.
The last war in which Sweden was directly involved was in 1814, when Norway was militarily forced into personal union. Since Sweden has been at peace, maintaining an official policy of neutrality in foreign affairs; the union with Norway was peacefully dissolved in 1905. Sweden was formally neutral through both world wars and the Cold War, albeit Sweden has since 2009 moved towards cooperation with NATO. After the end of the Cold War, Sweden joined the European Union on 1 January 1995, but declined NATO membership, as well as Eurozone membership following a referendum, it is a member of the United Nations, the Nordic Council, the Council of Europe, the World Trade Organization and the Organisation for Economic Co-operation and Development. Sweden maintains a Nordic social welfare system that provides universal health care and tertiary education for its citizens, it has the world's eleventh-highest per capita income and ranks in numerous metrics of national performance, including quality of life, education, protection of civil liberties, economic competitiveness, equality and human development.
The name Sweden was loaned from Dutch in the 17th century to refer to Sweden as an emerging great power. Before Sweden's imperial expansion, Early Modern English used Swedeland. Sweden is derived through back-formation from Old English Swēoþēod, which meant "people of the Swedes"; this word is derived from Sweon/Sweonas. The Swedish name Sverige means "realm of the Swedes", excluding the Geats in Götaland. Variations of the name Sweden are used in most languages, with the exception of Danish and Norwegian using Sverige, Faroese Svøríki, Icelandic Svíþjóð, the more notable exception of some Finnic languages where Ruotsi and Rootsi are used, names considered as referring to the people from the coastal areas of Roslagen, who were known as the Rus', through them etymologically related to the English name for Russia; the etymology of Swedes, thus Sweden, is not agreed upon but may derive from Proto-Germanic Swihoniz meaning "one's own", referring to one's own Germanic tribe. Sweden's prehistory begins in the Allerød oscillation, a warm period around 12,000 BC, with Late Palaeolithic reindeer-hunting camps of the Bromme culture at the edge of the ice in what is now the country's southernmost province, Scania.
This period was characterised by small bands of hunter-gatherer-fishers using flint technology. Sweden is first described in a written source in Germania by Tacitus in 98 AD. In Germania 44 and 45 he mentions the Swedes as a powerful tribe with ships that had a prow at each end. Which kings ruled these Suiones is unknown, but Norse mythology presents a long line of legendary and semi-legendary kings going back to the last centuries BC; as for literacy in Sweden itself, the runic script was in use among the south Scandinavian elite by at least the 2nd century AD, but all that has come down to the present from the Roman Period is curt inscriptions on artefacts of male names, demonstrating th
The Codanus sinus is the Latin name of the Baltic Sea and Kattegat. According to Pomponius Mela and Pliny the Elder, it is an "enormous bay" lying beyond the Elbe", it has "the largest one being Scandinavia. The origin of the name is obscure. Codan
Norway the Kingdom of Norway, is a Nordic country in Northern Europe whose territory comprises the western and northernmost portion of the Scandinavian Peninsula. The Antarctic Peter I Island and the sub-Antarctic Bouvet Island are dependent territories and thus not considered part of the kingdom. Norway lays claim to a section of Antarctica known as Queen Maud Land. Norway has a total area of 385,207 square kilometres and a population of 5,312,300; the country shares a long eastern border with Sweden. Norway is bordered by Finland and Russia to the north-east, the Skagerrak strait to the south, with Denmark on the other side. Norway has an extensive coastline, facing the Barents Sea. Harald V of the House of Glücksburg is the current King of Norway. Erna Solberg has been prime minister since 2013. A unitary sovereign state with a constitutional monarchy, Norway divides state power between the parliament, the cabinet and the supreme court, as determined by the 1814 constitution; the kingdom was established in 872 as a merger of a large number of petty kingdoms and has existed continuously for 1,147 years.
From 1537 to 1814, Norway was a part of the Kingdom of Denmark-Norway, from 1814 to 1905, it was in a personal union with the Kingdom of Sweden. Norway was neutral during the First World War. Norway remained neutral until April 1940 when the country was invaded and occupied by Germany until the end of Second World War. Norway has both administrative and political subdivisions on two levels: counties and municipalities; the Sámi people have a certain amount of self-determination and influence over traditional territories through the Sámi Parliament and the Finnmark Act. Norway maintains close ties with both the United States. Norway is a founding member of the United Nations, NATO, the European Free Trade Association, the Council of Europe, the Antarctic Treaty, the Nordic Council. Norway maintains the Nordic welfare model with universal health care and a comprehensive social security system, its values are rooted in egalitarian ideals; the Norwegian state has large ownership positions in key industrial sectors, having extensive reserves of petroleum, natural gas, lumber and fresh water.
The petroleum industry accounts for around a quarter of the country's gross domestic product. On a per-capita basis, Norway is the world's largest producer of oil and natural gas outside of the Middle East; the country has the fourth-highest per capita income in the world on the World IMF lists. On the CIA's GDP per capita list which includes autonomous territories and regions, Norway ranks as number eleven, it has the world's largest sovereign wealth fund, with a value of US$1 trillion. Norway has had the highest Human Development Index ranking in the world since 2009, a position held between 2001 and 2006, it had the highest inequality-adjusted ranking until 2018 when Iceland moved to the top of the list. Norway ranked first on the World Happiness Report for 2017 and ranks first on the OECD Better Life Index, the Index of Public Integrity, the Democracy Index. Norway has one of the lowest crime rates in the world. Norway has two official names: Norge in Noreg in Nynorsk; the English name Norway comes from the Old English word Norþweg mentioned in 880, meaning "northern way" or "way leading to the north", how the Anglo-Saxons referred to the coastline of Atlantic Norway similar to scientific consensus about the origin of the Norwegian language name.
The Anglo-Saxons of Britain referred to the kingdom of Norway in 880 as Norðmanna land. There is some disagreement about whether the native name of Norway had the same etymology as the English form. According to the traditional dominant view, the first component was norðr, a cognate of English north, so the full name was Norðr vegr, "the way northwards", referring to the sailing route along the Norwegian coast, contrasting with suðrvegar "southern way" for, austrvegr "eastern way" for the Baltic. In the translation of Orosius for Alfred, the name is Norðweg, while in younger Old English sources the ð is gone. In the 10th century many Norsemen settled in Northern France, according to the sagas, in the area, called Normandy from norðmann, although not a Norwegian possession. In France normanni or northmanni referred to people of Sweden or Denmark; until around 1800 inhabitants of Western Norway where referred to as nordmenn while inhabitants of Eastern Norway where referred to as austmenn. According to another theory, the first component was a word nór, meaning "narrow" or "northern", referring to the inner-archipelago sailing route through the land.
The interpretation as "northern", as reflected in the English and Latin forms of the name, would have been due to folk etymology. This latter view originated with philologist Niels Halvorsen Trønnes in 1847; the form Nore is still used in placenames such as the village of Nore and lake Norefjorden in Buskerud county, still has the same meaning. Among other arguments in favour of the theor