1.
Ticker symbol
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A ticker symbol or stock symbol is an abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. A stock symbol may consist of letters, numbers or a combination of both, ticker symbol refers to the symbols that were printed on the ticker tape of a ticker tape machine. Stock symbols are unique identifiers assigned to each security traded on a particular market, for example, AAPL is for Apple Inc. OODH is for Orion DHC, Inc. and HD is for Home Depot, a stock symbol can consist of letters, numbers, or a combination of both, and is a way to uniquely identify that stock. The symbols were kept as short as possible to reduce the number of characters that had to be printed on the ticker tape, the allocation of symbols and formatting convention is specific to each stock exchange. In the US, for example, stock tickers are typically between 1 and 4 letters and represent the name where possible. In Europe, most exchanges use three-letter codes, for example Dutch consumer goods company Unilever traded on the Amsterdam Euronext exchange has the symbol UNA, while in Asia, numbers are often used as stock tickers to avoid issues for international investors when using non-Latin scripts. For example, the bank HSBCs stock traded on the Hong Kong Stock Exchange has the ticker symbol 0005, symbols sometimes change to reflect mergers. Prior to the 1999 merger with Mobil Oil, Exxon used a spelling of the company XON as its ticker symbol. The symbol of the firm after the merger was XOM, symbols are sometimes reused, in the US the single-letter symbols are particularly sought after as vanity symbols. For example, since Mar 2008 Visa Inc. has used the symbol V that had previously used by Vivendi which had delisted. To fully qualify a stock, both the ticker and the exchange or country of listing needs to be known, on many systems both must be specified to uniquely identify the security. This is often done by appending the location or exchange code to the ticker, although stock tickers identify a security, they are exchange dependent, generally limited to stocks and can change. These limitations have led to the development of other codes in financial markets to identify securities for settlement purposes, the most prevalent of these is the International Securities Identifying Number. An ISIN uniquely identifies a security and its structure is defined in ISO6166, Securities for which ISINs are issued include bonds, commercial paper, stocks, and warrants. The ISIN identifies the security, not the exchange on which it trades, for instance, Daimler AG stock trades on twenty-two different stock exchanges worldwide, and is priced in five different currencies, it has the same ISIN on each, though not the same ticker symbol. ISIN cannot specify a particular trade in this case, and another identifier, following the introduction of the Sequence trading platform in 1996, EPICs were renamed Tradable Instrument Display Mnemonics, but they are still widely referred to as EPICs. Stocks can also be identified using their SEDOL number or their ISIN, in the United States, modern letter-only ticker symbols were developed by Standard & Poors to bring a national standard to investing
2.
Moscow Exchange
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Moscow Exchange, the largest exchange group in Russia, operates trading markets in equities, bonds, derivatives, the foreign exchange market, money markets and precious metals. The Moscow Exchange Group also operates Russias central securities depository and the countrys largest clearing service provider, the exchange is a result of December 2011 merger of the Moscow Interbank Currency Exchange and the Russian Trading System. Both organisations had been formed in the 1990s and were the leading Russian exchanges for two decades with their MICEX Index and the RTS Index, the merger created a single entity and advanced Russias plans to turn Moscow into an international financial centre. The exchange rebranded in July 2012, the exchange completed its Initial Public Offering on 15 February 2013, raising 15 billion rubles. The IPO, at the time the largest ever held exclusively in Moscow, was more than twice oversubscribed, the Exchange’s shares were included in the MSCI Russia Index as of 26 November 2013. In July 2014 the Central Bank of Russia, the largest shareholder of the exchange, a Russian federal law requires the Central Bank to fully sell its stake in the exchange by 1 January 2016. and Da Vinci Capital Partners. Dmitry Shcheglov, COO, a veteran of Moscow Exchange and its predecessor MICEX, luis Vicente, Head of Risk & Clearing as of September 2013, former risk manager at Brazil’s BM&F Bovespa. Since 2016, the Supervisory Board consists of 12 instead of 15 members previously, alexei Kudrin, a former Russian Deputy Prime Minister and Finance Minister was elected Chairman of the Moscow Exchange Supervisory Board in June 2014. The Equity & Bond Market is a key platform for Russian businesses to raise capital and for domestic and international investors to access equity, the marketplace is the main trading venue for Russian stocks as well as government, municipal, and corporate bonds. In 2013-2014,16 companies placed stock via Moscow Exchange, raising a total of approximately RUB200 bln, on the fixed income side, more than 400 bond issues were placed, raising more than RUB3.4 trln for issuers. Moscow Exchange includes shares of many of Russia’s largest companies including Gazprom, Sberbank, Rosneft, Lukoil, most global investment banks began to provide their clients with DMA to the Russian market in 2013. As a result of changes, the international central securities depositories Euroclear and Clearstream now offer settlement services for Russian stocks. In addition to attracting international investors to trade on its platform, recent changes to the regulation of pension funds, together with changes to the listing rules, allow more assets of non-state pension funds to be invested into the market. Other legislative changes incentivise retail investors through reduced taxation to invest into stocks, Moscow Exchanges FX and Money Market is a key element of the Russian financial system. The Bank of Russia uses the Exchanges infrastructure to implement monetary policy and provide liquidity to the market through repo transactions, for its domestic and international clients, including banks and corporates, Moscow Exchange offers a range of products to manage liquidity and FX exposure. It is the centre of pricing for RUB and offers many RUB currency pairs, FX Market All transactions on the FX market are centrally cleared by National Clearing Centre. In September 2014, average daily trading volume across all currency pairs was USD22.4 bln, while RUB/USD and RUB/EUR remain the most traded currency pairs, Moscow Exchange also actively promotes trading in other currencies. In particular the RUB/CNY pair has been received by the market and trading in the GBP
3.
London Stock Exchange
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The London Stock Exchange is a stock exchange located in the City of London in the United Kingdom. As of December 2014, the Exchange had a capitalisation of US$6.06 trillion. The Exchange was founded in 1801 and its current premises are situated in Paternoster Square close to St Pauls Cathedral in the City of London, the Exchange is part of the London Stock Exchange Group. London Stock Exchange is one of the world’s oldest stock exchanges, London Stock Exchange Group was created in October 2007 when London Stock Exchange merged with Milan Stock Exchange, Borsa Italiana. The Royal Exchange had been founded by English financier Thomas Gresham on the model of the Antwerp Bourse and it was opened by Elizabeth I of England in 1571. During the 17th century, stockbrokers were not allowed in the Royal Exchange due to their rude manners and they had to operate from other establishments in the vicinity, notably Jonathans Coffee-House. At that coffee house, a broker named John Casting started listing the prices of a few commodities, exchange rates and certain key provisions such as salt, coal, originally, this was not a daily list and was only published a few days of the week. This list and activity was moved to Garraway’s coffee house. Public auctions during this period were conducted for the duration that a length of tallow candle could burn, as stocks grew, with new companies joining to raise capital, the royal court also raised some monies. These are the earliest evidence of organised trading in securities in London. After Greshams Royal Exchange building was destroyed in the Great Fire of London, it was rebuilt and this was a move away from coffee houses and a step towards the modern model of stock exchange. The Royal Exchange not only housed brokers but also merchants and merchandise and this was the birth of a regulated stock market, which had teething problems in the shape of unlicensed brokers. In order to regulate these, Parliament brought out an act in 1697 that levied heavy penalties and it also set a fixed number of brokers, which was later increased as the size of the trade grew. The street in which they were now dealing was known as Exchange Alley, Parliament tried to regulate this and ban the unofficial traders from the Change streets. Traders became weary of bubbles when companies rose quickly and fell, after the Seven Years War, trade at Jonathans coffee house boomed again. In 1773, Jonathan, together with 150 other brokers, formed a club and opened a new and this now had a set entrance fee, through which traders could enter the stock room and trade securities. It was, however, not a location for trading. Fraud was also rife during these times and in order to such dealings
4.
Frankfurt Stock Exchange
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The Frankfurt Stock Exchange is the worlds 10th largest stock exchange by market capitalization. Located in Frankfurt, Germany, the Frankfurt Stock Exchange is owned and operated by Deutsche Börse AG and it is located in the district of Innenstadt and within the central business district known as Bankenviertel. The trading indices are DAX, DAXplus, CDAX, DivDAX, LDAX, MDAX, SDAX, TecDAX, VDAX, through its Deutsche Börse Cash Market business section, Deutsche Börse AG now operates two trading venues at the Frankfurt Stock Exchange. Xetra is the market for exchange trading in German equities. In 2015,90 per cent of all trading in shares at all German exchanges was transacted through the Xetra, with regard to DAX listings, Xetra has 60 per cent market share throughout Europe. Trading times on trading days are from 9.00 a. m. to 5.30 p. m, the prices on Xetra serve as the basis for calculating the DAX, the best-known German share index. Over 200 trading participants from 16 European countries, plus Hong Kong, Börse Frankfurt is the trading venue for mainly private investors with more than one million securities of German and international issuers. So named Specialists on the trading floor attend to the trading of the securities, trading at the Frankfurt Stock Exchange is governed by clear rules, which apply equally for all trading participants. With a view to improving the continuity of prices and to avoid mistrades, several mechanisms are in place for the trading venues Xetra. These include volatility interruption, market order interruption, and liquidity interruption measures, the origins of the Frankfurt Stock Exchange go back to medieval trade fairs in the 11th century. By the 16th century Frankfurt developed into a wealthy and busy city with a based on trade. In 1585 a bourse was established to set up fixed currency exchange rates, during the following centuries Frankfurt developed into one of the worlds first stock exchanges - next to London and Paris. Bankers like Mayer Amschel Rothschild and Max Warburg had substantial influence on Frankfurts financial trade, in 1879 Frankfurt Stock Exchange moved into its new building at Börsenplatz. During the 1990s the Frankfurt Stock Exchange was also bourse for the Neuer Markt as part of the worldwide dot-com boom, in 1993 the Frankfurter Wertpapierbörse became Deutsche Börse AG, operating businesses for the exchange. Since then the profits from the presence of the European Central Bank in Frankfurt. In 2002 and 2004 Deutsche Börse was in advanced negotiations to take over London Stock Exchange, financial Market Integration in a Wider European Union International financial centres, rivals or partner
5.
OTC Markets Group
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OTC Markets Group, is an American financial market providing price and liquidity information for almost 10,000 over-the-counter securities. The group has its headquarters in New York City, oTC-traded securities are organized into three markets to inform investors of opportunities and risks, OTCQX, OTCQB and Pink. The company was first established in 1913 as the National Quotation Bureau, for decades, the NQB reported quotations for both stocks and bonds, publishing the quotations in the paper-based Pink Sheets and Yellow Sheets respectively. The publications were named for the color of paper on which they were printed, in September 1999, the NQB introduced the real-time Electronic Quotation Service. The National Quotation Bureau changed its name to Pink Sheets LLC in 2000, the company eventually changed to its current name, OTC Markets Group, in 2010. Today, a network of over 100 broker-dealers price and trade a wide spectrum of securities on the OTC Markets platform, to be quoted on the platform, companies are not required to file with the SEC, although many choose to do so. A wide range of companies are quoted on OTC Markets, including firmly established foreign firms, in addition, many closely held, extremely small and thinly traded U. S. companies have their primary trading on the OTC Markets platform. Many foreign issuers adhere to the requirements of qualified foreign stock exchanges. Many of these issuers do not file periodic reports or make available audited financial statements, making it difficult for investors to find reliable. OTC Markets Group designates securities in one of three markets to indicate the level of financial and corporate disclosure provided by the companies using its quotation system. Apart from the OTCQX market, which has rules that include financial requirements, investors are encouraged to use caution when considering many of these companies for investment. The OTCQX market includes both multinational companies seeking access to U. S. investors and domestic growth companies, to be traded on this tier, companies must undergo a qualitative review by OTC Markets Group. Companies are not required to be registered with or reporting to the SEC, in addition, U. S. companies must be ongoing operations and may not be in bankruptcy, while foreign issuers must meet the requirements of qualified foreign exchanges. Additional oversight of OTCQX securities is provided by requiring every issuer to be sponsored by approved third-party investment banks or law firms, issuers and Designated Advisors For Disclosure for U. S. issuers. The OTCQB market contains a one penny bid price requirement intended to remove companies that are most likely to be the subject of stock fraud schemes. Investor confidence improves when there is information about a company’s ownership structure, professional advisors. International Reporting companies are allowed to upgrade from Pink to OTCQB if they publish their 12g3-2 compliant disclosure online. There is a fee for the OTCQB market of $10,000 per year
6.
Petroleum industry
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The petroleum industry includes the global processes of exploration, extraction, refining, transporting, and marketing of petroleum products. The largest volume products of the industry are fuel oil and gasoline, Petroleum is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, synthetic fragrances, and plastics. The industry is divided into three major components, upstream, midstream and downstream. Midstream operations are included in the downstream category. Petroleum is vital to many industries, and is of importance to the maintenance of industrial civilization in its current configuration, and thus is a critical concern for many nations. Oil accounts for a percentage of the world’s energy consumption, ranging from a low of 32% for Europe and Asia. Other geographic regions consumption patterns are as follows, South and Central America, Africa, the world consumes 30 billion barrels of oil per year, with developed nations being the largest consumers. The United States consumed 25% of the oil produced in 2007, the production, distribution, refining, and retailing of petroleum taken as a whole represents the worlds largest industry in terms of dollar value. Petroleum is a naturally occurring liquid found in rock formations and it consists of a complex mixture of hydrocarbons of various molecular weights, plus other organic compounds. It is generally accepted that oil is formed mostly from the carbon rich remains of ancient plankton after exposure to heat, Petroleum in an unrefined state has been utilized by humans for over 5000 years. Oil in general has been used since early history to keep fires ablaze. Its importance to the world economy evolved slowly, with oil used for lighting in the 19th century and wood. The Industrial Revolution generated an increasing need for energy which was met mainly by coal, Imperial Russia produced 3,500 tons of oil in 1825 and doubled its output by mid-century. Batum is renamed to Batumi in 1936, at the turn of the 20th century, Imperial Russias output of oil, almost entirely from the Apsheron Peninsula, accounted for half of the worlds production and dominated international markets. Nearly 200 small refineries operated in the suburbs of Baku by 1884, as a side effect of these early developments, the Apsheron Peninsula emerged as the worlds oldest legacy of oil pollution and environmental negligence. In 1846, Baku the first ever well drilled with percussion tools to a depth of 21 meters for oil exploration, in 1878, Ludvig Nobel and his Branobel company revolutionized oil transport by commissioning the first oil tanker and launching it on the Caspian Sea. Samuel Kier established Americas first oil refinery in Pittsburgh on Seventh avenue near Grant Street, one of the first modern oil refineries were built by Ignacy Łukasiewicz near Jasło, Poland in 1854–56. These were initially small as demand for refined fuel was limited, the refined products were used in artificial asphalt, machine oil and lubricants, in addition to Łukasiewiczs kerosene lamp
7.
Vagit Alekperov
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Vagit Yusufovich Alekperov is an Azerbaijani and Russian businessman, the president of the leading Russian oil company LUKOIL. He is currently rated by Forbes magazine as the eighth richest person in Russia with a net worth of $12.3 billion, Alekperov was born in Baku, one of the earliest centers of the international petroleum industry. His father, who died when Vagit was a boy, worked in the oilfields all his life, alekperovs father was a Muslim and his mother, Russian Orthodox. Alekperov is religious, but does not define himself as either Muslim or Orthodox and he was eighteen when he landed his first job in the industry. Alekperov graduated in 1974 from Azerbaijan Oil and Chemistry Institute, as a student he also worked as a drilling operator in Kaspmorneft, a Caspian regional production company. After graduation, he continued to work there, and by 1979 he had advanced from engineer to deputy head of a production unit and he had to work in extreme conditions on oil platforms. On one occasion, an explosion on his rig threw him into the stormy Caspian sea, Alekperov moved to Western Siberia in 1979 and worked at Surgutneftegaz between 1979 and 1985, earning his reputation as an industry expert. He was ascending positions and by 1985 became first deputy director of Bashneft production company. In 1987, he became director of the newly created production company Kogalymneftegaz. In 1990, Alekperov was appointed deputy minister of the Oil and Gas Industry of the Soviet Union, in April 1993, Langepas-Uray-Kogalymneft became LUKoil Oil Company, with Alekperov as its president. Alekperov has remained president of LUKoil since that time, employing more than 100,000 people, today LUKoil is among the worlds most powerful oil companies, with reserves second only to Exxon. LUKoil has been the first Russian company to acquire an American company, in November 2000, LUKoil acquired Getty Petroleum Marketing and its 1,300 gas stations in the United States Like many other Russian oligarchs, Alekperov has also moved into banking and media. In May 2006 Alekperov was one of the two owners of IFD Kapital Group. Alekperov is married to Larisa Victorovna Alekperova and has a son Yusuf born in 1990, List of Azerbaijanis List of Russian billionaires Biography of Vagit Alekperov Lukoil Executive’s Death Exposes Network of Inside Deals, by Glenn R. Simpson, December 6th,2006 Business Russia
8.
Moscow
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Moscow is the capital and most populous city of Russia, with 13.2 million residents within the city limits and 17.8 million within the urban area. Moscow has the status of a Russian federal city, Moscow is a major political, economic, cultural, and scientific center of Russia and Eastern Europe, as well as the largest city entirely on the European continent. Moscow is the northernmost and coldest megacity and metropolis on Earth and it is home to the Ostankino Tower, the tallest free standing structure in Europe, the Federation Tower, the tallest skyscraper in Europe, and the Moscow International Business Center. Moscow is situated on the Moskva River in the Central Federal District of European Russia, the city is well known for its architecture, particularly its historic buildings such as Saint Basils Cathedral with its brightly colored domes. Moscow is the seat of power of the Government of Russia, being the site of the Moscow Kremlin, the Moscow Kremlin and Red Square are also one of several World Heritage Sites in the city. Both chambers of the Russian parliament also sit in the city and it is recognized as one of the citys landmarks due to the rich architecture of its 200 stations. In old Russian the word also meant a church administrative district. The demonym for a Moscow resident is москвич for male or москвичка for female, the name of the city is thought to be derived from the name of the Moskva River. There have been proposed several theories of the origin of the name of the river and its cognates include Russian, музга, muzga pool, puddle, Lithuanian, mazgoti and Latvian, mazgāt to wash, Sanskrit, majjati to drown, Latin, mergō to dip, immerse. There exist as well similar place names in Poland like Mozgawa, the original Old Russian form of the name is reconstructed as *Москы, *Mosky, hence it was one of a few Slavic ū-stem nouns. From the latter forms came the modern Russian name Москва, Moskva, in a similar manner the Latin name Moscovia has been formed, later it became a colloquial name for Russia used in Western Europe in the 16th–17th centuries. From it as well came English Muscovy, various other theories, having little or no scientific ground, are now largely rejected by contemporary linguists. The surface similarity of the name Russia with Rosh, an obscure biblical tribe or country, the oldest evidence of humans on the territory of Moscow dates from the Neolithic. Within the modern bounds of the city other late evidence was discovered, on the territory of the Kremlin, Sparrow Hills, Setun River and Kuntsevskiy forest park, etc. The earliest East Slavic tribes recorded as having expanded to the upper Volga in the 9th to 10th centuries are the Vyatichi and Krivichi, the Moskva River was incorporated as part of Rostov-Suzdal into the Kievan Rus in the 11th century. By AD1100, a settlement had appeared on the mouth of the Neglinnaya River. The first known reference to Moscow dates from 1147 as a place of Yuri Dolgoruky. At the time it was a town on the western border of Vladimir-Suzdal Principality
9.
Russia
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Russia, also officially the Russian Federation, is a country in Eurasia. The European western part of the country is more populated and urbanised than the eastern. Russias capital Moscow is one of the largest cities in the world, other urban centers include Saint Petersburg, Novosibirsk, Yekaterinburg, Nizhny Novgorod. Extending across the entirety of Northern Asia and much of Eastern Europe, Russia spans eleven time zones and incorporates a range of environments. It shares maritime borders with Japan by the Sea of Okhotsk, the East Slavs emerged as a recognizable group in Europe between the 3rd and 8th centuries AD. Founded and ruled by a Varangian warrior elite and their descendants, in 988 it adopted Orthodox Christianity from the Byzantine Empire, beginning the synthesis of Byzantine and Slavic cultures that defined Russian culture for the next millennium. Rus ultimately disintegrated into a number of states, most of the Rus lands were overrun by the Mongol invasion. The Soviet Union played a role in the Allied victory in World War II. The Soviet era saw some of the most significant technological achievements of the 20th century, including the worlds first human-made satellite and the launching of the first humans in space. By the end of 1990, the Soviet Union had the second largest economy, largest standing military in the world. It is governed as a federal semi-presidential republic, the Russian economy ranks as the twelfth largest by nominal GDP and sixth largest by purchasing power parity in 2015. Russias extensive mineral and energy resources are the largest such reserves in the world, making it one of the producers of oil. The country is one of the five recognized nuclear weapons states and possesses the largest stockpile of weapons of mass destruction, Russia is a great power as well as a regional power and has been characterised as a potential superpower. The name Russia is derived from Rus, a state populated mostly by the East Slavs. However, this name became more prominent in the later history, and the country typically was called by its inhabitants Русская Земля. In order to distinguish this state from other states derived from it, it is denoted as Kievan Rus by modern historiography, an old Latin version of the name Rus was Ruthenia, mostly applied to the western and southern regions of Rus that were adjacent to Catholic Europe. The current name of the country, Россия, comes from the Byzantine Greek designation of the Kievan Rus, the standard way to refer to citizens of Russia is Russians in English and rossiyane in Russian. There are two Russian words which are translated into English as Russians
10.
Chairman
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The chairman is the highest officer of an organized group such as a board, a committee, or a deliberative assembly. The person holding the office is elected or appointed by the members of the group. The chair presides over meetings of the group and conducts its business in an orderly fashion. When the group is not in session, the officers duties include acting as its head, its representative to the outside world. In some organizations, this position is called president, in others, where a board appoints a president. Other terms sometimes used for the office and its holder include chair, chairperson, chairwoman, presiding officer, president, moderator, facilitator, the chairman of a parliamentary chamber is often called the speaker. The term chair is used in lieu of chairman, in response to criticisms that using chairman is sexist. In his 1992 State of the Union address, then-U. S, president George H. W. Bush used chairman for men and chair for women. A1994 Canadian study found the Toronto Star newspaper referring to most presiding men as chairman, the Chronicle of Higher Education uses chairman for men and chairperson for women. An analysis of the British National Corpus found chairman used 1,142 times, chairperson 130 times, the National Association of Parliamentarians does not approve using chairperson. In World Schools Style debating, male chairs are called Mr. Chairman, the FranklinCovey Style Guide for Business and Technical Communication, as well as the American Psychological Association style guide, advocate using chair or chairperson, rather than chairman. The Oxford Dictionary of American Usage and Style suggests that the forms are gaining ground. It advocates using chair to refer both to men and to women, the word chair can refer to the place from which the holder of the office presides, whether on a chair, at a lectern, or elsewhere. During meetings, the person presiding is said to be in the chair and is referred to as the chair. Major dictionaries state that the word derives from chair and man, some authorities, however, including Riddicks Rules of Procedure, suggest that the second part of chairman derives from the Latin manus, and thus claim gender-neutrality for the word. Vladimir Lenin, for example, officially functioned as the head of Soviet Russia not as tsar or as president, note in particular the popular standard method for referring to Mao Zedong, Chairman Mao. In the absence of the chairman and vice chairman, groups sometimes elect a chairman pro tempore to fill the role for a single meeting. In some organizations that have titles, deputy chairman ranks higher than vice chairman, as there are often multiple vice chairs
11.
Petroleum
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Petroleum is a naturally occurring, yellow-to-black liquid found in geological formations beneath the Earths surface, which is commonly refined into various types of fuels. Components of petroleum are separated using a technique called fractional distillation and it consists of hydrocarbons of various molecular weights and other organic compounds. The name petroleum covers both naturally occurring unprocessed crude oil and petroleum products that are made up of refined crude oil. A fossil fuel, petroleum is formed when large quantities of dead organisms, usually zooplankton and algae, are buried underneath sedimentary rock, Petroleum has mostly been recovered by oil drilling. Drilling is carried out studies of structural geology, sedimentary basin analysis. Petroleum is used in manufacturing a variety of materials. Concern over the depletion of the earths finite reserves of oil, the burning of fossil fuels plays the major role in the current episode of global warming. The word petroleum comes from Greek, πέτρα for rocks and Greek, the term was found in 10th-century Old English sources. It was used in the treatise De Natura Fossilium, published in 1546 by the German mineralogist Georg Bauer, Petroleum, in one form or another, has been used since ancient times, and is now important across society, including in economy, politics and technology. Great quantities of it were found on the banks of the river Issus, ancient Persian tablets indicate the medicinal and lighting uses of petroleum in the upper levels of their society. By 347 AD, oil was produced from bamboo-drilled wells in China, early British explorers to Myanmar documented a flourishing oil extraction industry based in Yenangyaung that, in 1795, had hundreds of hand-dug wells under production. The mythological origins of the oil fields at Yenangyaung, and its hereditary monopoly control by 24 families, Pechelbronn is said to be the first European site where petroleum has been explored and used. The still active Erdpechquelle, a spring where petroleum appears mixed with water has been used since 1498, Oil sands have been mined since the 18th century. In Wietze in lower Saxony, natural asphalt/bitumen has been explored since the 18th century, both in Pechelbronn as in Wietze, the coal industry dominated the petroleum technologies. In 1848 Young set up a small business refining the crude oil, Young eventually succeeded, by distilling cannel coal at a low heat, in creating a fluid resembling petroleum, which when treated in the same way as the seep oil gave similar products. The production of oils and solid paraffin wax from coal formed the subject of his patent dated 17 October 1850. In 1850 Young & Meldrum and Edward William Binney entered into partnership under the title of E. W. Binney & Co. at Bathgate in West Lothian, the worlds first oil refinery was built in 1856 by Ignacy Łukasiewicz. The demand for petroleum as a fuel for lighting in North America, edwin Drakes 1859 well near Titusville, Pennsylvania, is popularly considered the first modern well
12.
Natural gas
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It is formed when layers of decomposing plant and animal matter are exposed to intense heat and pressure under the surface of the Earth over millions of years. The energy that the plants originally obtained from the sun is stored in the form of bonds in the gas. Natural gas is a fuel used as a source of energy for heating, cooking. It is also used as fuel for vehicles and as a feedstock in the manufacture of plastics. Natural gas is found in underground rock formations or associated with other hydrocarbon reservoirs in coal beds. Petroleum is another resource and fossil fuel found in proximity to. Most natural gas was created over time by two mechanisms, biogenic and thermogenic, biogenic gas is created by methanogenic organisms in marshes, bogs, landfills, and shallow sediments. Deeper in the earth, at temperature and pressure, thermogenic gas is created from buried organic material. In petroleum production gas is burnt as flare gas. The World Bank estimates that over 150 cubic kilometers of gas are flared or vented annually. Before natural gas can be used as a fuel, most, Natural gas is often informally referred to simply as gas, especially when compared to other energy sources such as oil or coal. However, it is not to be confused with gasoline, especially in North America, Natural gas was used by the Chinese in about 500 BCE. They discovered a way to transport gas seeping from the ground in crude pipelines of bamboo to where it was used to salt water to extract the salt. The worlds first industrial extraction of gas started at Fredonia, New York. By 2009,66000 km³ had been used out of the total 850000 km³ of estimated remaining reserves of natural gas. An annual increase in usage of 2–3% could result in currently recoverable reserves lasting significantly less, unwanted natural gas was a disposal problem in the active oil fields. If there was not a market for natural gas near the wellhead it was expensive to pipe to the end user. In the 19th century and early 20th century, unwanted gas was burned off at oil fields
13.
Petrochemical
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Petrochemicals, also called petroleum distillates, are chemical products derived from petroleum. Some chemical compounds made from petroleum are also obtained from fossil fuels, such as coal or natural gas. The two most common classes are olefins and aromatics. Oil refineries produce olefins and aromatics by fluid catalytic cracking of petroleum fractions, chemical plants produce olefins by steam cracking of natural gas liquids like ethane and propane. Aromatics are produced by catalytic reforming of naphtha, Olefins and aromatics are the building-blocks for a wide range of materials such as solvents, detergents, and adhesives. Olefins are the basis for polymers and oligomers used in plastics, resins, fibers, elastomers, lubricants, global ethylene and propylene production are about 115 million tonnes and 70 million tonnes per annum, respectively. Aromatics production is approximately 70 million tonnes, the largest petrochemical industries are located in the USA and Western Europe, however, major growth in new production capacity is in the Middle East and Asia. There is substantial inter-regional petrochemical trade, primary petrochemicals are divided into three groups depending on their chemical structure, Olefins includes ethylene, propylene, and butadiene. Ethylene and propylene are important sources of chemicals and plastics products. Butadiene is used in making synthetic rubber, aromatics includes benzene, toluene, and xylenes. Benzene is a raw material for dyes and synthetic detergents, manufacturers use xylenes to produce plastics and synthetic fibers. Synthesis gas is a mixture of carbon monoxide and hydrogen used to make ammonia, ammonia is used to make the fertilizer urea and methanol is used as a solvent and chemical intermediate. The prefix petro- is an abbreviation of the word petroleum, since petro- is Ancient Greek for rock. Therefore, the correct term would be oleochemicals. However, the term oleochemical is used to describe chemicals derived from plant, benzene, toluene and xylenes, as a whole referred to as BTX and primarily obtained from petroleum refineries by extraction from the reformate produced in catalytic reformers. Methane and BTX are used directly as feedstocks for producing petrochemicals, the output ethylene capacity of large steam crackers ranged up to as much as 1.0 –1.5 Mt per year. Steam crackers are not to be confused with steam reforming plants used to produce hydrogen, like commodity chemicals, petrochemicals are made on a very large scale. Petrochemical manufacturing units differ from commodity chemical plants in that often produce a number of related products
14.
Russian ruble
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The Russian ruble is the currency of the Russian Federation, the two partially recognized republics of Abkhazia and South Ossetia, and the two unrecognized republics of Donetsk and Luhansk. The ruble is subdivided into 100 kopeks, the ruble was the currency of the Russian Empire and of the Soviet Union. Today apart from Russia, Belarus and Transnistria uses currencies with the same name, the ruble was the worlds first decimal currency, it was decimalised in 1704 when the ruble became legally equal to 100 kopeks. In 1992 the Soviet ruble was replaced with the Russian ruble at the rate 1 SUR =1 RUR. In 1998 following the crisis, the Russian ruble was redenominated with the new code RUB. Today, although RUB being the code of the Russian ruble. The ruble is the oldest national currency after the Pound sterling in the world, the ruble has been used on the Russian territories since the 13th century. The modern Russian ruble actually appeared in December 1991 in parallel with the Soviet ruble, following the breakup of the Soviet Union in 1991, the Soviet ruble remained the currency of the Russian Federation until 1992. A new set of coins was issued in 1992 and a new set of banknotes was issued in the name of Bank of Russia in 1993. The Russian ruble with the ISO4217 code is RUR and number 810 replaced the Soviet ruble at the rate 1 SUR =1 RUR. After the fall of the Soviet Union, the Russian Federation introduced new coins in 1992 in denominations of 1,5,10,20,50 and 100 rubles, the coins depict the double-headed eagle without a crown, sceptre and globus cruciger above the legend Банк России. It is exactly the same eagle, that the artist Ivan Bilibin painted after the February Revolution as a coat of arms for the Russian Republic. The 1 and 5 ruble coins were minted in brass-clad steel, the 10 and 20 ruble coins in cupro-nickel, in 1993, aluminium-bronze 50 ruble coins and cupro-nickel-zinc 100 ruble coins were issued, and the material of 10 and 20 ruble coins s was changed to nickel-plated steel. In 1995 the material of 50 ruble coins was changed to brass-plated steel, as high inflation persisted, the lowest denominations disappeared from circulation and the other denominations became rarely used. During this period the commemorative one ruble coin was regularly issued and it was practically identical in size and weight to a 5 Swiss franc coin. For this reason, there have been instances of ruble coins being used on a large scale to defraud automated vending machines in Switzerland. In 1961, new State Treasury notes were introduced for 1,3 and 5 rubles, along with new State Bank notes for 10,25,50 and 100 rubles. In 1991, the State Bank took over production of 1,3 and 5 ruble notes and also introduced 200,500 and 1,000 ruble notes, although the 25 ruble note was no longer issued
15.
Earnings before interest and taxes
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In accounting and finance, earnings before interest and taxes, is a measure of a firms profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses, when a firm does not have non-operating income, then operating income is sometimes used as a synonym for EBIT and operating profit. To calculate EBIT, expenses are subtracted from revenues, net income is later obtained by subtracting interest and taxes from the result
16.
Net income
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In business, net income is an entitys income minus cost of goods sold, expenses and taxes for an accounting period. In the context of the presentation of financial statements, the IFRS Foundation defines net income as synonymous with profit, net income is a distinct accounting concept from profit but the same as net profit. Net income can also be calculated by adding a companys operating income to non-operating income, net income can be distributed among holders of common stock as a dividend or held by the firm as an addition to retained earnings. As profit and earnings are used synonymously for income, net earnings, often, the term income is substituted for net income, yet this is not preferred due to the possible ambiguity. Net income is called the bottom line because it is typically found on the last line of a companys income statement. The items deducted will typically include tax expense, financing expense, likewise, preferred stock dividends will be subtracted too, though they are not an expense. For a merchandising company, subtracted costs may be the cost of goods sold, sales discounts, for a product company advertising, manufacturing, and design and development costs are included
17.
Asset
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In financial accounting, an asset is an economic resource. Anything tangible or intangible that can be owned or controlled to produce value, simply stated, assets represent value of ownership that can be converted into cash. The balance sheet of a firm records the value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business, one can classify assets into two major asset classes, tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets, current assets include inventory, while fixed assets include such items as buildings and equipment. Intangible assets are resources and rights that have a value to the firm because they give the firm some kind of advantage in the marketplace. Examples of intangible assets include goodwill, copyrights, trademarks, patents and computer programs, an asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity. One of the most widely accepted accounting definitions of asset is the one used by the International Accounting Standards Board, employees are not considered assets like machinery is, even though they can generate future economic benefits. This is because an entity does not have sufficient control over its employees to satisfy the Frameworks definition of an asset, similarly, in economics an asset is any form in which wealth can be held. The accounting equation is the structure of the balance sheet. It relates assets, liabilities, and owners equity, Assets = Liabilities + Capital Liabilities = Assets − Capital Equity = Assets − Liabilities Assets are listed on the balance sheet. On a companys balance sheet certain divisions are required by generally accepted accounting principles, Assets can be divided into e. g. current assets and fixed assets, often with further subdivisions such as cash, receivables and inventory. Assets are formally controlled and managed within larger organizations via the use of asset tracking tools and these monitor the purchasing, upgrading, servicing, licensing, disposal etc. of both physical and non-physical assets. Current assets are cash and other assets expected to be converted to cash or consumed either in a year or in the operating cycle and these assets are continually turned over in the course of a business during normal business activity. There are 5 major items included into current assets, Cash and cash equivalents – it is the most liquid asset, which includes currency, deposit accounts, short-term investments – include securities bought and held for sale in the near future to generate income on short-term price differences. Receivables – usually reported as net of allowance for non-collectable accounts, inventory – trading these assets is a normal business of a company. The inventory value reported on the sheet is usually the historical cost or fair market value. This is known as the lower of cost or market rule, prepaid expenses – these are expenses paid in cash and recorded as assets before they are used or consumed
18.
Equity (finance)
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In accounting, equity is the difference between the value of the assets and the value of the liabilities of something owed. Equity can be negative if liabilities exceeds assets, shareholders equity represents the equity of a company as divided among shareholders of common or preferred stock. Negative shareholders equity is often referred to as a shareholders deficit, alternatively, equity can also refer to the capital stock of a corporation. The value of the stock depends on the future economic prospects. For a company in liquidation proceedings, the equity is that which remains after all liabilities have been paid, when starting a business, the owners fund the business to finance various operations. Throughout the businesss existence, the equity of the business will be the difference between its assets and debt liabilities, this is the accounting equation, when a business liquidates during bankruptcy, the proceeds from the assets are used to reimburse creditors. The creditors are ranked by priority, with secured creditors being paid first, other creditors being paid next, owners equity is this remaining or residual claim against assets, which is paid only after all other creditors are paid. In such cases where even creditors could not get money to pay their bills. In financial accounting, owners equity consists of the net assets of an entity, net assets is the difference between the total assets and total liabilities. Equity appears on the sheet, one of the four primary financial statements. The assets of an entity can be tangible and intangible items. Intangible assets include such as brand names, copyrights or goodwill. Tangible assets include land, equipment, and cash, issue of new equity in which the firm obtains new capital increases the total shareholders equity. Share repurchases, in which a firm returns money to investors, reducing on the side its financial assets. For practical purposes, share repurchasing is similar to a dividend payment, rather than giving money to all shareholders immediately in the form of a dividend payment, a share repurchase reduces the number of shares outstanding. Dividends paid out to preferred stock owners are considered an expense to be subtracted from net income, sometimes assets bought and held in other countries get translated back into the reporting currency at different exchange rates, resulting in a changed value. When the owners are shareholders, the interest can be called shareholders equity, the remains the same. If all shareholders are in one and the class, they share equally in ownership equity from all perspectives
19.
Lukoil
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Lukoil is one of Russias largest oil companies. It is also one of the largest global producers of oil, in 2012, the company produced 89.856 million tons of oil per day. Headquartered in Moscow, Lukoil is one of the largest public companies in terms of proven oil, in 2008, the company had 19.3 billion barrels of oil equivalent per SPE standards. This amounts to some 1. 3% of global oil reserves, the company has operations in more than 40 countries around the world. The initials of the three companies are preserved in the name Lukoil, the central figure in the companys founding was the Soviet deputy minister of oil production Vagit Alekperov. He came to believe the only way Russians could compete against western companies was to copy their business model and that meant vertically integrating the three branches of the industry—exploration, refining, and distribution—that were strictly separate under the old Soviet system. It is one of the largest tax payers of the Russian Federation, Lukoil became the first company to begin offering shares of stock on the new Russian Trading System, in 1994. Lukoil agreed to buy Hess Corporations Russian unit for $2.05 billion, in September 2004, ConocoPhillips purchased a 7. 6% stake in Lukoil and signed an agreement that could increase this figure in the future to up to 20%. There is risk of course but we believe in the success of this unique project, the consortium was created in September 2005. Lukoil owns seven oil-processing companies in Eastern Europe with total capacity of 54.1 mln tpa, * – 49% and 45% shares respectively The company also owns several petrochemical plants in Budennovsk, Saratov and Kalush, Ukraine, all managed by Lukoil-Neftechim. As of January 2009, the company had proven reserves of 14.5 billion barrels of oil and 29.3 trillion cubic feet of gas, as of the start of 2014, it had 166 tank farms and 5,867 filling stations. The Group owns four large refineries and two mini-refineries in Russia, as well as two plants abroad, and has shares in an oil refining complex in Italy and in the Netherlands. In late 2015 and early 2016, Lukoil announced that its operations are being sold in Latvia, Lithuania, in November 1995 LUKoil filed with the U. S. Securities and Exchange Commission to issue American depositary receipts, i. e. In 2003, LUKoil split off 3 billion US$ of non-oil or non-core assets to start IFD Kapital Group, LUKOIL has created in September 2012 Shared service centre in the Czech Republic to provide accounting services to its subsidiaries abroad. The shared service centre at end 2014 provided services to LUKOIL subsidiaries in Belgium, Poland and Bulgaria. According to Lukoil, their numbers in 2007 recorded a drop of 7. 8% in the volume of pollutant effects, in an effort to increase productivity, Lukoil organized a contract to begin an oil pumping block in the Azerbaijan sector of the Caspian Sea. It arranged an Environmental Impact Assessment of the site in order to organize a second exploration drill. This block, D-222, was the largest prospective structure in the north-east section of the Caspian Sea as of 2008, the key issue of the assessment was the amount of damage the block would be doing to fish stock in the area
20.
Russian language
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Russian is an East Slavic language and an official language in Russia, Belarus, Kazakhstan, Kyrgyzstan and many minor or unrecognised territories. Russian belongs to the family of Indo-European languages and is one of the four living members of the East Slavic languages, written examples of Old East Slavonic are attested from the 10th century and beyond. It is the most geographically widespread language of Eurasia and the most widely spoken of the Slavic languages and it is also the largest native language in Europe, with 144 million native speakers in Russia, Ukraine and Belarus. Russian is the eighth most spoken language in the world by number of native speakers, the language is one of the six official languages of the United Nations. Russian is also the second most widespread language on the Internet after English, Russian distinguishes between consonant phonemes with palatal secondary articulation and those without, the so-called soft and hard sounds. This distinction is found between pairs of almost all consonants and is one of the most distinguishing features of the language, another important aspect is the reduction of unstressed vowels. Russian is a Slavic language of the Indo-European family and it is a lineal descendant of the language used in Kievan Rus. From the point of view of the language, its closest relatives are Ukrainian, Belarusian, and Rusyn. An East Slavic Old Novgorod dialect, although vanished during the 15th or 16th century, is considered to have played a significant role in the formation of modern Russian. In the 19th century, the language was often called Great Russian to distinguish it from Belarusian, then called White Russian and Ukrainian, however, the East Slavic forms have tended to be used exclusively in the various dialects that are experiencing a rapid decline. In some cases, both the East Slavic and the Church Slavonic forms are in use, with different meanings. For details, see Russian phonology and History of the Russian language and it is also regarded by the United States Intelligence Community as a hard target language, due to both its difficulty to master for English speakers and its critical role in American world policy. The standard form of Russian is generally regarded as the modern Russian literary language, mikhail Lomonosov first compiled a normalizing grammar book in 1755, in 1783 the Russian Academys first explanatory Russian dictionary appeared. By the mid-20th century, such dialects were forced out with the introduction of the education system that was established by the Soviet government. Despite the formalization of Standard Russian, some nonstandard dialectal features are observed in colloquial speech. Thus, the Russian language is the 6th largest in the world by number of speakers, after English, Mandarin, Hindi/Urdu, Spanish, Russian is one of the six official languages of the United Nations. Education in Russian is still a choice for both Russian as a second language and native speakers in Russia as well as many of the former Soviet republics. Russian is still seen as an important language for children to learn in most of the former Soviet republics, samuel P. Huntington wrote in the Clash of Civilizations, During the heyday of the Soviet Union, Russian was the lingua franca from Prague to Hanoi
21.
Romanization of Russian
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Romanization of the Russian alphabet is the process of transliterating the Russian language from the Cyrillic script into the Latin alphabet. Scientific transliteration, also known as the International Scholarly System, is a system that has used in linguistics since the 19th century. It is based on the Czech alphabet and formed the basis of the GOST, OST8483 was the first Soviet standard on romanization of Russian, introduced in 16 October 1935. This standard is an equivalent of GOST 16876-71 and was adopted as a standard of the COMECON. GOST7. 79-2000 System of Standards on Information, Librarianship and it is the official standard of both Russia and the Commonwealth of Independent States. Machine readable passports is an adoption of an ICAO stadards for travel documents and it was used in Russian passports for a short period during 2010–2013. The standard was substituted in 2013 by GOST R ISO/IEC 7501-1-2013, which does not contain romanization, ISO/R9, established in 1954 and updated in 1968, was the adoption of the scientific transliteration by the International Organization for Standardization. It covers Russian and seven other Slavic languages, ISO9,1995 is the current transliteration standard from ISO. It is based on its predecessor ISO/R9,1968, which it deprecates, for Russian, the UNGEGN, a Working Group of the United Nations, in 1987 recommended a romanization system for geographical names, which was based on the 1983 version of GOST 16876-71. It may be found in some international cartographic products, American Library Association and Library of Congress romanization tables for Slavic alphabets are used in North American libraries and in the British Library since 1975. The formal, unambiguous version of the system requires some diacritics and two-letter tie characters, British Standard 2979,1958 is the main system of the Oxford University Press, and a variation was used by the British Library to catalogue publications acquired up to 1975. The BGN/PCGN system is relatively intuitive for Anglophones to read and pronounce, the portion of the system pertaining to the Russian language was adopted by BGN in 1944 and by PCGN in 1947. In Soviet international passports, transliteration was based on French rules, in 1997, with the introduction of new Russian passports, a diacritic-free English-oriented system was established by the Ministry of Internal Affairs, but this system was also abandoned in 2010. In 2006, GOST52535. 1-2006 was adopted, which defines technical requirements and standards for Russian international passports, in 2010, the Federal Migratory Service of Russia approved Order No. 26, stating that all names in the passports issued after 2010 must be transliterated using GOST52535. 1-2006. The standard was abandoned in 2013, finally in 2013, Order No.320 of the Federal Migratory Service of Russia came into force. It states that all names in the passports must be transliterated using the ICAO system. This system differs from the GOST52535. 1-2006 system in two things, ц is transliterated into ts, ъ is transliterated into ie, Scholarly ¹ Some archaic letters are transcribed in different ways
22.
Energy industry
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The energy industry is the totality of all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, refining and distribution. Modern society consumes large amounts of fuel, and the industry is a crucial part of the infrastructure. Managing the use of energy is inevitable in any functional society, in society and in the context of humanities, the word energy is used as a synonym of energy resources, and most often refers to substances like fuels, petroleum products and electricity in general. These are sources of energy, in that they can be easily transformed to other kinds of energy sources that can serve a particular useful purpose. This difference vis a vis energy in natural sciences can lead to some confusion, the actual energy content is always conserved, but when it is converted into heat for example, it usually becomes less useful to society, and thus appears to have been used up. Ever since humanity discovered various energy resources available in nature, it has been inventing devices, known as machines, production and consumption of energy resources is very important to the global economy. All economic activity requires energy resources, whether to manufacture goods, provide transportation, run computers, widespread demand for energy may encourage competing energy utilities and the formation of retail energy markets. Note the presence of the Energy Marketing and Customer Service sub-sector, since the cost of energy has become a significant factor in the performance of economy of societies, management of energy resources has become very crucial. Energy management involves utilizing the energy resources more effectively that is with minimum incremental costs. Many times it is possible to save expenditure on energy without incorporating fresh technology by simple management techniques, most often energy management is the practice of using energy more efficiently by eliminating energy wastage or to balance justifiable energy demand with appropriate energy supply. The process couples energy awareness with energy conservation, the United Nations developed the International Standard Industrial Classification, which is a list of economic and social classifications. There is no classification for an energy industry, because the classification system is based on activities, products. Countries in North America use the North American Industry Classification System, the NAICS sectors #21 and #22 might roughly define the energy industry in North America. This classification is used by the U. S. Securities and this is compounded by the fact that the economics of delivering energy tend to be priced for capacity as opposed to average usage. One of the purposes of a grid infrastructure is to smooth out demand so that capacity. Consumption of energy resources, requires resources and has an effect on the environment, many electric power plants burn coal, oil or natural gas in order to generate electricity for energy needs. The large-scale use of energy technologies would greatly mitigate or eliminate a wide range of environmental. Renewable energy technologies include biofuels, solar heating and cooling, hydroelectric power, solar power, Energy conservation and the efficient use of energy would also help
23.
Corporation
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A corporation is a company or group of people authorized to act as a single entity and recognized as such in law. Early incorporated entities were established by charter, most jurisdictions now allow the creation of new corporations through registration. Corporations chartered in regions where they are distinguished by whether they are allowed to be for profit or not are referred to as for profit and not-for-profit corporations, there is some overlap between stock/non-stock and for profit/not-for-profit in that not-for-profit corporations are always non-stock as well. A for profit corporation is almost always a stock corporation, registered corporations have legal personality and are owned by shareholders whose liability is limited to their investment. Shareholders do not typically actively manage a corporation, shareholders instead elect or appoint a board of directors to control the corporation in a fiduciary capacity, in American English, the word corporation is most often used to describe large business corporations. In British English and in the Commonwealth countries, the company is more widely used to describe the same sort of entity while the word corporation encompasses all incorporated entities. In American English, the company can include entities such as partnerships that would not be referred to as companies in British English as they are not a separate legal entity. Despite not being human beings, corporations, as far as the law is concerned, are legal persons. Corporations can exercise human rights against real individuals and the state, Corporations can be dissolved either by statutory operation, order of court, or voluntary action on the part of shareholders. Corporations can even be convicted of offenses, such as fraud. However, corporations are not considered living entities in the way humans are. While not a corporation, this new type of entity became very attractive as an alternative for corporations not needing to issue stock, in Germany, the organization was referred to as Gesellschaft mit beschränkter Haftung or GmbH. In the last quarter of the 20th Century this new form of organization became available in the United States and other countries. Since the GmbH and LLC forms of organization are technically not corporations they will not be discussed in this article, the word corporation derives from corpus, the Latin word for body, or a body of people. By the time of Justinian, Roman law recognized a range of corporate entities under the names universitas and these included the state itself, municipalities, and such private associations as sponsors of a religious cult, burial clubs, political groups, and guilds of craftsmen or traders. Such bodies commonly had the right to own property and make contracts, to receive gifts and legacies, to sue and be sued, private associations were granted designated privileges and liberties by the emperor. Entities which carried on business and were the subjects of rights were found in ancient Rome. In medieval Europe, churches became incorporated, as did local governments, such as the Pope, the point was that the incorporation would survive longer than the lives of any particular member, existing in perpetuity
24.
Petroleum product
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Petroleum products are materials derived from crude oil as it is processed in oil refineries. Unlike petrochemicals, which are a collection of well-defined usually pure chemical compounds, the majority of petroleum is converted to petroleum products, which includes several classes of fuels. According to the composition of the oil and depending on the demands of the market. The largest share of oil products is used as carriers, i. e. various grades of fuel oil. These fuels include or can be blended to give gasoline, jet fuel, diesel fuel, heating oil, heavier fractions can also be used to produce asphalt, tar, paraffin wax, lubricating and other heavy oils. Refineries also produce chemicals, some of which are used in chemical processes to produce plastics. Since petroleum often contains a few percent sulfur-containing molecules, elemental sulfur is also produced as a petroleum product. Carbon, in the form of coke, and hydrogen may also be produced as petroleum products. The hydrogen produced is used as an intermediate product for other oil refinery processes such as hydrocracking. Oil refineries will blend various feedstocks, mix appropriate additives, provide short term storage, and prepare for bulk loading to trucks, barges, product ships, gaseous fuels such as propane, stored and shipped in liquid form under pressure in specialized railcars to distributors. Shipped by barge, rail, and tanker ship, lubricants, usually shipped in bulk to an offsite packaging plant. Paraffin wax, used in the packaging of foods, among others. May be shipped in bulk to a site to prepare as packaged blocks, sulfur, byproduct of sulfur removal from petroleum, which contain percent of organosulfur compounds. Bulk tar shipping for offsite unit packaging for use in tar-and-gravel roofing or similar uses, asphalt - used as a binder for gravel to form asphalt concrete, which is used for paving roads, lots, etc. An asphalt unit prepares bulk asphalt for shipment, Petroleum coke, used in specialty carbon products such as certain types of electrodes, or as solid fuel. Petrochemical are organic compounds that are the ingredients for the industry, ranging from polymers. Representative petrochemicals are ethylene and benzene-toluene-xylenes, o2 Over 6,000 items are made from petroleum waste by-products including, Fertilizer, Linoleum, Perfume, Insecticide, Petroleum Jelly, Soap, Vitamin Capsules. See link to partial list of 144 by-products listed by Ranken Energy
25.
Khanty-Mansi Autonomous Okrug
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Khanty-Mansi Autonomous Okrug — Yugra or Khanty-Mansiysk Autonomous Okrug – Yugra, is a federal subject of Russia. The people native to the region are the Khanty and the Mansi, Russian remains the only official language. In 2012, the majority of the oil produced in Russia comes from Khanty–Mansi Autonomous Okrug, the okrug was established on December 10,1930, as Ostyak–Vogul National Okrug. In October 1940, it was renamed the Khanty-Mansi National Okrug, in 1977, along with other national okrugs of the Russian SFSR, it became an autonomous okrug. In 2003, the word Yugra was appended to the official name, the okrug occupies the central part of the West Siberian Plain. Principal rivers include the Ob and its tributary the Irtysh, the northeasterly line of equal latitude and longitude traverses the Khanty–Mansi Autonomous Okrug. Khanty–Mansi Autonomous Okrug has an area of 523,100 km², the administrative center is Khanty-Mansiysk, but the largest cities are Surgut, Nizhnevartovsk, and Nefteyugansk. The indigenous population is only 2. 2% of the population in the Khanty-Mansi Autonomous Okrug. The exploitation of gas in Khanty-Mansi Autonomous Okrug has attracted immigrants from all over the former Soviet Union. Muslims constitute 11% of the population, in addition, 23% of the population declares to be spiritual but not religious, 11% is atheist, and 10. 9% follows other religions or did not give an answer to the question. In Khanty-Mansi Autonomous Okrug, the transport of goods is by water and railway transport, 29% is transported by road. The total length of railway tracks 1,106 km, the length of roads is more than 18,000 km. Hockey Club Ugra Official website of Khanty–Mansiysk Autonomous Okrug – Yugra Official site of Khanty–Mansi Duma
26.
Langepas
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Langepas means squirrel channel in the Khanty language. It was established in 1980 and granted town status in 1985, within the framework of administrative divisions, it is incorporated as the town of okrug significance of Langepas—an administrative unit with the status equal to that of the districts. As a municipal division, the town of significance of Langepas is incorporated as Langepas Urban Okrug. Economy of the town is based on oil and natural gas extraction, Дума Ханты-Мансийского автономного округа — Югры. Закон №43-оз от7 июля2004 г, «Об административно-территориальном устройстве Ханты-Мансийского автономного округа — Югры и порядке его изменения», в ред. Закона №129-оз от9 декабря2015 г, «Об изменениях административно-территориального устройства Ханты-Мансийского автономного округа — Югры и о внесении изменений в отдельные Законы Ханты-Мансийского автономного округа — Югры». Вступил в силу по истечении десяти дней со дня официального опубликования, Опубликован, Новости Югры, №83,17 июля2004 г. Дума Ханты-Мансийского автономного округа — Югры, Закон №63-оз от25 ноября2004 г. «О статусе и границах муниципальных образований Ханты-Мансийского автономного округа — Югры», Закона №129-оз от9 декабря2015 г. «Об изменениях административно-территориального устройства Ханты-Мансийского автономного округа — Югры и о внесении изменений в отдельные Законы Ханты-Мансийского автономного округа — Югры». Вступил в силу по истечении десяти дней со дня официального опубликования и до1 января2006 года применяется в целях реализации статей84,85 Федерального закона от06.10.2003 №131-ФЗ, Опубликован, Новости Югры, №143,7 декабря2004 г. Official website of Langepas Information about Langepas
27.
Uray
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Uray is a town in Khanty–Mansi Autonomous Okrug, located on the Konda River 350 kilometers from Khanty-Mansiysk. It was founded as a settlement for oil field workers and it was granted town status in 1965. Within the framework of administrative divisions, it is incorporated as the town of significance of Uray—an administrative unit with the status equal to that of the districts. As a municipal division, the town of significance of Uray is incorporated as Uray Urban Okrug. Uray is the center of the oil-extracting region. In 1960, the first oil field in Siberia—the Shaimskoye field—opened here), Uray is the starting point of the Shaim–Tyumen oilpipe line. TPP Uraуneftegaz OOO LUKoil- Zapadnaya Sibir oil reprocessor plant is located in Uray, other Urays industries include food industry and housebuilding. The town is served by the Uray Airport, Дума Ханты-Мансийского автономного округа — Югры. Закон №43-оз от7 июля2004 г, «Об административно-территориальном устройстве Ханты-Мансийского автономного округа — Югры и порядке его изменения», в ред. Закона №129-оз от9 декабря2015 г, «Об изменениях административно-территориального устройства Ханты-Мансийского автономного округа — Югры и о внесении изменений в отдельные Законы Ханты-Мансийского автономного округа — Югры». Вступил в силу по истечении десяти дней со дня официального опубликования, Опубликован, Новости Югры, №83,17 июля2004 г. Дума Ханты-Мансийского автономного округа — Югры, Закон №63-оз от25 ноября2004 г. «О статусе и границах муниципальных образований Ханты-Мансийского автономного округа — Югры», Закона №129-оз от9 декабря2015 г. «Об изменениях административно-территориального устройства Ханты-Мансийского автономного округа — Югры и о внесении изменений в отдельные Законы Ханты-Мансийского автономного округа — Югры». Вступил в силу по истечении десяти дней со дня официального опубликования и до1 января2006 года применяется в целях реализации статей84,85 Федерального закона от06.10.2003 №131-ФЗ, Опубликован, Новости Югры, №143,7 декабря2004 г. Entry on Uray Znamya, Urays newspaper
28.
Kogalym
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Kogalym is a town in Khanty-Mansi Autonomous Okrug, Russia, located on the Inguyagun River 325 kilometers northeast of Khanty-Mansiysk. It was founded in 1975 due to the development of the oil fields in its vicinity and it was granted town status on August 15,1985. As a municipal division, the town of significance of Kogalym is incorporated as Kogalym Urban Okrug. Economy of the town is based on oil extraction, the headquarters of the main extraction subsidiary of Lukoil is in Kogalym. The town is served by the Kogalym International Airport, railway station, the town is served by buses and quite a big number of taxi companies. The traffic is not congested, except during peak hours, while small traffic jams are in evidence throughout the day, because of location the weather in town is freezing in winter and not warm at summer. The average temperature in January is about from -30 to -40 The average speed of wind is 3,1 meters per second The average humidity is 76, Закон №43-оз от7 июля2004 г. «Об административно-территориальном устройстве Ханты-Мансийского автономного округа — Югры и порядке его изменения», Закона №129-оз от9 декабря2015 г. «Об изменениях административно-территориального устройства Ханты-Мансийского автономного округа — Югры и о внесении изменений в отдельные Законы Ханты-Мансийского автономного округа — Югры», Вступил в силу по истечении десяти дней со дня официального опубликования. Опубликован, Новости Югры, №83,17 июля2004 г, Дума Ханты-Мансийского автономного округа — Югры. Закон №63-оз от25 ноября2004 г, «О статусе и границах муниципальных образований Ханты-Мансийского автономного округа — Югры», в ред. Закона №129-оз от9 декабря2015 г, «Об изменениях административно-территориального устройства Ханты-Мансийского автономного округа — Югры и о внесении изменений в отдельные Законы Ханты-Мансийского автономного округа — Югры». Вступил в силу по истечении десяти дней со дня официального опубликования и до1 января2006 года применяется в целях реализации статей84,85 Федерального закона от06.10.2003 №131-ФЗ, Опубликован, Новости Югры, №143,7 декабря2004 г
29.
Gazprom
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Public Joint Stock Company Gazprom is a large Russian company founded in 1989, which carries on the business of extraction, production, transport, and sale of natural gas. The company name is a portmanteau of the Russian words Gazovaya Promyshlennost, the headquarters of Gazprom are in Moscow. Gazprom was created in 1989 when the Soviet Ministry of Gas Industry was converted to a corporation, although it is a private company, the Russian Government holds a majority stake in the company. Gazprom is involved in the Russian Governments diplomatic efforts, setting of gas prices, Gazproms production fields are located around the Gulf of Ob in Western Siberia. Plans have also made to mine the Yamal Peninsula. Gazproms gas transport system includes 158,200 kilometres of gas trunk lines, projects include Nord Stream and South Stream. In 2011, Gazprom produced about 513.2 billion cubic metres of natural gas, Gazprom also produced about 32.3 million tons of crude oil and nearly 12.1 million tons of gas condensate. The company has subsidiaries in industrial sectors including finance, media and aviation, in 1943, during World War II, the government of the Soviet Union created a gas industry. In 1965, it centralized gas exploration, development, and distribution within the Ministry of Gas Industry, in the 1970s and 1980s, the Ministry of Gas Industry found large natural gas reserves in Siberia, the Ural region and the Volga region. The Soviet Union became a gas producer. In August 1989, under the leadership of Viktor Chernomyrdin, the Ministry of Gas Industry was renamed the State Gas Concern Gazprom, in late 1991, when the Soviet Union dissolved, gas industry assets were transferred to newly established national companies, such as Ukrgazprom and Turkmengazprom. Gazprom kept assets located in Russia and secured a monopoly in the gas sector, in December 1992, when Boris Yeltsin, the Russian President, appointed Chernomyrdin, Gazproms Chairman, his Prime Minister, the companys political influence increased. Rem Viakhirev took the chairmanship of Gazproms Board of Directors and Managing Committee, following the Decree of the President of the Russian Federation of 5 November 1992 and the Resolution of the Government of Russia of 17 February 1993, Gazprom became a joint-stock company. Gazprom began to distribute shares under the voucher method, by 1994, 33% of Gazproms shares had been bought by 747,000 members of the public, mostly in exchange for vouchers. Fifteen percent of the stock was allocated to Gazprom employees, the state retained 40% of the shares. That amount was lowered to thirty-eight percent. Trading of Gazproms shares was heavily regulated, foreigners were prohibited from owning more than nine-percent of the shares. In October 1996, 1% of Gazproms equity was offered for sale to foreigners as Global Depository Receipts, in 1997, Gazprom offered a bond issue of US$2.5 billion
30.
Soviet Union
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The Soviet Union, officially the Union of Soviet Socialist Republics was a socialist state in Eurasia that existed from 1922 to 1991. It was nominally a union of national republics, but its government. The Soviet Union had its roots in the October Revolution of 1917 and this established the Russian Socialist Federative Soviet Republic and started the Russian Civil War between the revolutionary Reds and the counter-revolutionary Whites. In 1922, the communists were victorious, forming the Soviet Union with the unification of the Russian, Transcaucasian, Ukrainian, following Lenins death in 1924, a collective leadership and a brief power struggle, Joseph Stalin came to power in the mid-1920s. Stalin suppressed all opposition to his rule, committed the state ideology to Marxism–Leninism. As a result, the country underwent a period of rapid industrialization and collectivization which laid the foundation for its victory in World War II and postwar dominance of Eastern Europe. Shortly before World War II, Stalin signed the Molotov–Ribbentrop Pact agreeing to non-aggression with Nazi Germany, in June 1941, the Germans invaded the Soviet Union, opening the largest and bloodiest theater of war in history. Soviet war casualties accounted for the highest proportion of the conflict in the effort of acquiring the upper hand over Axis forces at battles such as Stalingrad. Soviet forces eventually captured Berlin in 1945, the territory overtaken by the Red Army became satellite states of the Eastern Bloc. The Cold War emerged by 1947 as the Soviet bloc confronted the Western states that united in the North Atlantic Treaty Organization in 1949. Following Stalins death in 1953, a period of political and economic liberalization, known as de-Stalinization and Khrushchevs Thaw, the country developed rapidly, as millions of peasants were moved into industrialized cities. The USSR took a lead in the Space Race with Sputnik 1, the first ever satellite, and Vostok 1. In the 1970s, there was a brief détente of relations with the United States, the war drained economic resources and was matched by an escalation of American military aid to Mujahideen fighters. In the mid-1980s, the last Soviet leader, Mikhail Gorbachev, sought to reform and liberalize the economy through his policies of glasnost. The goal was to preserve the Communist Party while reversing the economic stagnation, the Cold War ended during his tenure, and in 1989 Soviet satellite countries in Eastern Europe overthrew their respective communist regimes. This led to the rise of strong nationalist and separatist movements inside the USSR as well, in August 1991, a coup détat was attempted by Communist Party hardliners. It failed, with Russian President Boris Yeltsin playing a role in facing down the coup. On 25 December 1991, Gorbachev resigned and the twelve constituent republics emerged from the dissolution of the Soviet Union as independent post-Soviet states
31.
Volgograd
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Volgograd, formerly Tsaritsyn, 1589–1925, and Stalingrad, 1925–1961, is an important industrial city and the administrative center of Volgograd Oblast, Russia. It is 80 kilometers long, north to south and is situated on the bank of the Volga River, after which the city was named. The city became famous for its resistance during the Battle of Stalingrad against the German Army in World War II and it is often regarded as the largest and bloodiest battle in the history of warfare. Although the city may have originated in 1555, documented evidence of Tsaritsyn located at the confluence of the Tsaritsa, grigori Zasekin established the fortress Sary Su as part of the defences of the unstable southern border of the Tsardom of Russia. The structure stood slightly above the mouth of the Tsaritsa River on the right bank and it soon became the nucleus of a trading settlement. In 1607 the fortress garrison rebelled against the troops of Tsar Vasili Shuisky for six months, in 1608 the city acquired its first stone church, St. John the Baptist. At the beginning of the 17th century, the garrison consisted of 350 to 400 people, in 1670 troops of Stepan Razin captured the fortress, they left after a month. In 1708 the insurgent Cossack Kondraty Bulavin held the fortress, in 1717 in the Kuban pogrom, raiders from the Kuban under the command of the Crimean Tatar Bakhti Gerai blockaded the town and enslaved thousands in the area. In August 1774 Yemelyan Pugachev unsuccessfully attempted to storm the city, in 1708 Tsaritsyn was assigned to the Kazan Governorate, in 1719 to the Astrakhan Governorate. According to the census in 1720, the city had a population of 408 people, in 1773 the city became the provincial and district town. From 1779 it belonged to the Saratov Viceroyalty, in 1780 the city came under the newly established Saratov Governorate. In the 19th century Tsaritsyn became an important river-port and commercial center, the population expanded rapidly, increasing from fewer than 3,000 people in 1807 to about 84,000 in 1900. The first railroad reached the town in 1862, the first theatre opened in 1872, the first cinema in 1907. In 1913 Tsaritsyn got its first tram-line, and the citys first electric lights were installed in the city center, during the Russian Civil War of 1917-1923, Tsaritsyn came under Soviet control from November 1917. In 1918 White troops under the Ataman of the Don Cossack Host, Pyotr Krasnov, the Reds repulsed three assaults by the Whites. However, in June 1919 the White Armed Forces of South Russia under the command of General Denikin captured Tsaritsyn, the fighting from July 1918 to January 1920 became known as the Battle for Tsaritsyn. The city was renamed Stalingrad after Joseph Stalin on April 10,1925 and this was officially to recognize the citys and Stalins role in its defense against the Whites between 1918 and 1920. In 1931, the German settlement-colony Old Sarepta became a district of Stalingrad, renamed Krasnoarmeysky Rayon, it became the largest area of the city
32.
Novosibirsk
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Novosibirsk is the third-most populous city in Russia after Moscow and St. Petersburg. It is the most populous city in Asian Russia, with a population of 1,473,754 as of the 2010 Census and it is the administrative center of Novosibirsk Oblast as well as of the Siberian Federal District. It is split into ten districts and occupies an area of 502.1 square kilometers and it superseded nearby Krivoshchekovskaya village, which was founded in 1696. The bridge was completed in the spring of 1897, making the new settlement the regional transport hub, the importance of the city further increased with the completion of the Turkestan-Siberia Railway in the early 20th century. The new railway connected Novonikolayevsk to Central Asia and the Caspian Sea, at the time of the bridges opening, Novonikolayevsk had a population of 7,800 people. Its first bank opened in 1906, and a total of five banks were operating by 1915, in 1907, Novonikolayevsk, now with a population exceeding 47,000, was granted town status with full rights for self-government. During the pre-revolutionary period, the population of Novonikolayevsk reached 80,000, the city had steady and rapid economic growth, becoming one of the largest commercial and industrial centers of Siberia. It developed a significant agricultural processing industry, as well as a station, iron foundry, commodity market, several banks. In 1913, Novonikolayevsk became one of the first places in Russia to institute compulsory primary education, the Russian Civil War took a toll on the city. There were wartime epidemics, especially of typhus and cholera, that thousands of lives. In the course of the war the Ob River Bridge was destroyed, for the first time in the citys history, the population of Novonikolayevsk began to decline. The Soviet Workers and Soldiers Deputies of Novonikolayevsk took control of the city in December 1917, in May 1918, the Czechoslovak Legions rose in opposition to the revolutionary government and, together with the White Guards, captured Novonikolayevsk. The Red Army took the city in 1919, retaining it throughout the rest of the Civil War, Novonikolayevsk began reconstruction in 1921 at the start of Lenins New Economic Policy period. It was a part of Tomsk Governorate and served as its center from December 23,1919 to March 14,1920. Between June 13,1921 and May 25,1925, it served as the center of Novonikolayevsk Governorate. The city was given its present name on September 12,1926, since then, it has served as the administrative center of Novosibirsk Oblast. The Monument to the Heroes of the Revolution was erected in the center of the city and has one of the chief historic sites. Neglect in the 1990s while other areas were redeveloped helped preserve it in the post-Soviet era, during Joseph Stalins industrialization effort, Novosibirsk secured its place as one of the largest industrial centers of Siberia
33.
Bashkortostan
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The Republic of Bashkortostan, also known as Bashkiria is a federal subject of Russia. It is located between the Volga River and the Ural Mountains and its capital is the city of Ufa. With the population of 4,072,292 as of the 2010 Census, Bashkurdistan, the first ethnic autonomy in Russia, was established on November 281917. On March 20,1919, it was transformed into the Bashkir ASSR, in accordance with the Constitution of Bashkortostan and Russian Federation Constitution, Bashkortostan is a state, but has no sovereignty. On 11 October 1990 Bashkortostan adopted the Declaration of State Sovereignty,11 October is Republic Day in Bashkortostan. The name Bashkortostan derives from the name of the Bashkir ethnic group, while the root of the name is Turkic, the suffix -stan is Persian, common to many Eurasian country-names. They speak the Bashkir language, which belongs to the Kypchak branch of the Turkic languages, the first settlements in the territory of modern Bashkortostan date from the early Paleolithic period, but the Bronze Age spurred an upsurge in the population of this territory. When people of the Abashevo culture started settling here they possessed high skills in manufacturing bronze tools, weapons and they were the first to establish permanent settlements in the Southern Urals. Bashkortostan takes its name from its native people — the Bashkirs, the Russian name of the country — Bashkiriya — formed at the end of the 16th century. Originally it appeared in the forms Bashkir land, Bashkir’, Bashkirda, the ethnonym Bashkirs first became known in the 7th century. His contemporary Ibn-Ruste described the Bashkirs as an independent people, occupying territories on both sides of the Ural mountain ridge between Volga, Kama, Tobol and upstream of Yaik river. After the early-feudal Mongolian state had broken down in the 14th century, the tribes that lived there were headed by bi. After Kazan fell to Ivan the Terrible in 1554–1555, representatives of western and northwestern Bashkir tribes approached the Tsar with a request to voluntarily join Muscovy, starting from the second half of the 16th century, Bashkirias territory began taking shape as a part of the Russian state. Ufa Governorate, with a center in Ufa, was formed in 1865— another step towards territorial identification, after the Russian Revolution of 1917 are All-Bashkir Qoroltays on which a decision on the need to create a national federal republic within Russia. The congress was formed the government of Bashkurdistan, the Pre-parliament - Kese-Qoroltay and other bodies of power and administration, in March 1919, based on the agreements of the Russian Government with the Bashkir Government was formed Bashkir Autonomous Soviet Socialist Republic. During the Soviet period, Bashkiria was granted broad autonomous rights— the first among other Russian regions, the administrative structure of the Bashkir ASSR was based on principles similar to those of other autonomous republics of Russia. On October 11,1990 the Supreme Soviet of the Republic adopted the Declaration on state sovereignty of the Bashkir ASSR, on February 25,1992, the Bashkir ASSR was renamed the Republic of Bashkortostan. Bashkortostan contains part of the southern Urals and the adjacent plains, many rivers are part of the deepwater transportation system of European Russia, they provide access to ports of the Baltic and Black seas
34.
Privately held company
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More ambiguous terms for a privately held company are unquoted company and unlisted company. Though less visible than their publicly traded counterparts, private companies have major importance in the worlds economy. In 2008, the 441 largest private companies in the United States accounted for US$1,800,000,000,000 in revenues and employed 6.2 million people, according to Forbes. In 2004, the Forbes count of privately held U. S. businesses with at least $1 billion in revenue was 305, cargill, Koch Industries, Bechtel, Publix, Pilot Corp. Deloitte Touche Tohmatsu, Hearst Corporation, Cox Enterprises, S. C, johnson, McWane, Carlson Companies, and Mars are among the largest privately held companies in the United States. In the broadest sense, the private corporation refers to any business not owned by the state. This usage is found in former communist countries to differentiate from former state-owned enterprises. In the United States, the privately held company is more often used to describe for-profit enterprises whose shares are not traded on the stock market. In countries with public trading markets, a privately held business is taken to mean one whose ownership shares or interests are not publicly traded. Often, privately held companies are owned by the company founders and/or their families, sometimes employees also hold shares of private companies. Most small businesses are privately held, Private companies may be called corporations, limited companies, limited liability companies, unlimited companies, or other names, depending on where and how they are organized and structured. In the United States, but not generally in the United Kingdom, privately held companies generally have fewer or less comprehensive reporting requirements and obligations for transparency, via annual reports, etc. than publicly traded companies do. For example, in the United States, unlike in Europe, in addition, private company executives may steer their ships without shareholder approval, allowing them to take significant action without delays. There is a requirement for large proprietary companies, which are required to lodge Form 388H to the ASIC containing their financial report. In the United States, private companies are held to different accounting auditing standards than are public companies, other companies, like Sageworks, provide aggregated data on privately held companies, segmented by industry code. Privately held companies also sometimes have restrictions on how many shareholders they may have, for example, the U. S. Securities Exchange Act of 1934, section 12, limits a privately held company, generally, to fewer than 2000 shareholders, and the U. S. Investment Company Act of 1940, requires registration of investment companies that have more than 100 holders, in Australia, section 113 of the Corporations Act 2001 limits a privately held company to fifty non-employee shareholders. Private enterprises comprise the sector of an economy
35.
Russian Trading System
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The Russian Trading System was a stock market established in 1995 in Moscow, consolidating various regional trading floors into one exchange. Originally RTS was modeled on NASDAQs trading and settlement software, in 1998 the exchange went on line with its own in-house system, initially created as a non-profit organisation, it was transformed into a joint-stock company. In 2011 MICEX merged with RTS creating Moscow Exchange, the RTS Index now is the official indicator of Moscow Exchange, was first calculated on September 1,1995. The RTSI is a composite index calculated based on prices of the 50 most liquid Russian stocks. The Index is calculated in time and denominated in US dollars
36.
Economic regions of Russia
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No federal subject can belong to more than one economic region. Economic regions are grouped into economic zones. An economic region or its parts can belong to more than one economic zone, establishment and abolition of economic regions and economic zones or any changes in their composition are decided upon by the federal government of Russia. The following is the list and composition of the economic regions, sorted by population
37.
Ural Federal District
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Ural Federal District is one of the eight federal districts of Russia. Its population was 12,080,523 according to the 2010 Census, the district was established on May 13,2000 by a decree of the President of Russia. It is located at the border of the European and Asian parts of Russia, the administrative center of the district is the city of Yekaterinburg. The district contributes 18% to Russia’s Gross Regional Product, although its population is only 8. 5% of the Russian total, the district covers an area of 1,818,500 square kilometers, about 10% of Russia. According to the 2010 Census, the district had a population of 12,080,526, the remainder comprises various ethnicities of the former Soviet Union. 79. 9% of the population lived in urban areas. In 2006, the district provided 90% of Russian natural gas production, 68% of oil, industrial production per capita in the district is about 2.5 times higher than the average value throughout Russia. The district provides about 42% of Russian tax incomes, mostly from industry and its major branches are fuel mining and production, metallurgy and metal processing and engineering. The latter two are developed in Chelyabinsk and Sverdlovsk Oblast which, between them, constitute 83% of Russian metallurgy and 73% of metal processing and engineering. Local ore processing plants can provide only 20% of required copper, 28% chromium, 35% iron and 17% coal, meanwhile, the average distance to import them to the Ural is 2,500 km. The district is governed by the Presidential Envoy, and individual envoys are assigned by the President of Russia to all the Oblasts of the district, pyotr Latyshev was envoy to the Urals Federal District until his death on December 2,2008. Nikolay Vinnichenko succeeded him on this post on December 8,2008, on September 6,2011 Vinnichenko was appointed the envoy to the Northwestern Federal District, and Yevgeny Kuyvashev became the Presidential Envoy in the Urals Federal District. On May 18,2012 Vladimir Putin offered the tenure to Igor Kholmanskikh, an engineer without any political experience. The district comprises the Central and West Siberian economic regions and six subjects, Source for names of federal subjects
38.
Volgograd Oblast
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Volgograd Oblast is a federal subject of Russia. The population was 2,610,161 in the 2010 Census, borders length,2,221.9 kilometers Volgograd Oblast borders with Saratov, Rostov, Astrakhan, and Voronezh Oblasts, as well as with the Republic of Kalmykia of Russia and with Kazakhstan. Volgograd has more than 200 rivers and streams, the major ones include, The Volga River The Don River The Medveditsa River The Khopyor River Stalingrad Oblast was established on December 5,1936 on the territory of former Stalingrad Krai. The oblast was given its present name on November 10,1961, the Charter of Volgograd Oblast provides the fundamental law of the region. The Legislative Assembly of Volgograd Oblast is the provinces standing legislative body, the Legislative Assembly exercises its authority by passing laws, resolutions, and other legal acts and by supervising the implementation and observance of the laws and other legal acts passed by it. It is estimated that the proportion of ethnicities in this group is the same as that of the declared group, according to a 2012 official survey 54. In addition, 18% of the population declares to be spiritual but not religious, 12% is atheist, and 6. 5% follows other religions or did not give an answer to the question. Governor of Volgograd Oblast is Anatoliy Brovko Both the flag and the coat of arms of Volgograd Oblast include an image of The Motherland Calls, primary branches of economics are agriculture, food production, heavy industry, gas and petroleum refining. Volga Hydroelectric Station operates on the Volga River, list of Chairmen of the Volgograd Oblast Duma Volgograd floating landing Волгоградская областная Дума. Закона №90-ОД от10 июля2015 г, «О внесении изменений в статью2 Устава Волгоградской области от24 февраля2012 г. Вступил в силу по истечении десяти дней после дня официального опубликования, Опубликован, Волгоградская правда, №35,29 февраля2012 г. Исполнительный комитет Волгоградского областного Совета депутатов трудящихся, Административно-территориальное деление на1 июля1968 года. Official website of Volgograd Oblast Central Eurasian Information Resource, Images of Volgograd Oblast - University of Washington Digital Collections
39.
U.S. Securities and Exchange Commission
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The U. S. Securities and Exchange Commission is an independent agency of the United States federal government. The SEC was created by Section 4 of the Securities Exchange Act of 1934, the SEC has a three-part mission, to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. To achieve its mandate, the SEC enforces the requirement that public companies submit quarterly and annual reports. MD&A will usually touch on the upcoming year, outlining future goals. In an attempt to level the field for all investors. Quarterly and semiannual reports from companies are crucial for investors to make sound decisions when investing in the capital markets. Unlike banking, investment in the markets is not guaranteed by the federal government. The potential for big gains needs to be weighed against that of sizable losses, the SEC makes reports available to the public through the EDGAR system. The SEC also offers publications on investment-related topics for public education, the same online system also takes tips and complaints from investors to help the SEC track down violators of the securities laws. The SEC adheres to a policy of never commenting on the existence or status of an ongoing investigation. Prior to the enactment of the securities laws and the creation of the SEC. They were enacted and enforced at the level, and regulated the offering. Though the specific provisions of these laws varied among states, they all required the registration of all offerings and sales, as well as of every U. S. stockbroker. However, these blue sky laws were found to be ineffective. For example, the Investment Bankers Association told its members as early as 1915 that they could ignore blue sky laws by making securities offerings across state lines through the mail. After holding hearings on abuses on interstate frauds, Congress passed the Securities Act of 1933, the subsequent Securities Exchange Act of 1934 regulates sales of securities in the secondary market. The Securities Act of 1933 is also known as the Truth in Securities Act and its goal was to increase public trust in the capital markets by requiring uniform disclosure of information about public securities offerings. For the first year of the enactment, the enforcement of the statute rested with the Federal Trade Commission
40.
Ba'athist Iraq
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Baathist Iraq, formally the Iraqi Republic, covers the history of Iraq between 1968 and 2003, during the period of the Arab Socialist Baath Partys rule. This period began with high growth and soaring prosperity, but ended with Iraq facing social, political. The average annual income decreased because of external factors. During al-Bakrs de jure rule, the economy grew. However, several factors were threatening the countrys stability, among them the countrys conflict with Iran. An external problem was the conflict with Iran, which would contribute to the Iran–Iraq War. The Baath Party, which was secular in nature, harshly repressed the protests, another policy change was Iraqs foreign policy towards Iran, a Shia Muslim country. Deteriorating relations eventually led to the Iran–Iraq War, which started in 1980 when Iraq launched an invasion of Iran. Following the 1979 Iranian revolution, the Iraqis believed the Iranians to be weak and this notion proved to be incorrect, and the war lasted for eight years. Iraqs economy deteriorated during the war, and the country dependent on foreign donations to fund their war effort. The war ended in a stalemate when a ceasefire was reached in 1988, when the war ended, Iraq found itself in the midst of an economic depression, owed millions of dollars to foreign countries, and was unable to repay its creditors. Kuwait, which had increased oil output following the war, reducing international oil prices. In response to this, Saddam threatened Kuwait that, unless it reduced its oil output, negotiations broke down, and on 2 August 1990, Iraq launched an invasion of Kuwait. The resulting international response led to the Persian Gulf War, which Iraq lost, the United Nations initiated economic sanctions in the wars aftermath to weaken the Baathist Iraqi government. The countrys economic conditions worsened during the 1990s, and at the turn of the 21st century, in the aftermath of the September 11 attacks of 2001, the United States initiated a Global War on Terrorism, and labelled Iraq as a part of an Axis of Evil. In 2003, U. S. coalition forces invaded Iraq, in contrast to previous coups détat in Iraqs history, the 1968 coup, referred to as the 17 July Revolution, was, according to Con Coughlin, a relatively civil affair. All telephone lines were cut at 03,00, by which time several tanks had been commanded to halt in front of the Presidential Palace. Abdul Rahman Arif, the then-President of Iraq, first knew of the coup when jubilant members of the Republican Guard started shooting into the air in a premature triumph
41.
Saddam Hussein
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Saddam Hussein Abd al-Majid al-Tikriti was the fifth President of Iraq, serving in this capacity from 16 July 1979 until 9 April 2003. In the early 1970s, Saddam nationalized oil and other industries, the state-owned banks were put under his control, leaving the system eventually insolvent mostly due to the Iran–Iraq War, the Gulf War, and UN sanctions. Through the 1970s, Saddam cemented his authority over the apparatuses of government as oil money helped Iraqs economy to grow at a rapid pace, positions of power in the country were mostly filled with Sunni Arabs, a minority that made up only a fifth of the population. Saddam formally rose to power in 1979, although he had been the de facto head of Iraq for several years prior. He suppressed several movements, particularly Shia and Kurdish movements, seeking to overthrow the government or gain independence, and maintained power during the Iran–Iraq War and the Gulf War. Whereas some in the Arab world lauded Saddam for his opposition to the United States, the total number of Iraqis killed by the security services of Saddams government in various purges and genocides is unknown, but the lowest estimate is 250,000. Saddams Baath party was disbanded and elections were held, following his capture on 13 December 2003, the trial of Saddam took place under the Iraqi Interim Government. On 5 November 2006, Saddam was convicted of charges of crimes against humanity related to the 1982 killing of 148 Iraqi Shiites and his execution was carried out on 30 December 2006. His mother, Subha Tulfah al-Mussallat, named her newborn son Saddam and he is always referred to by this personal name, which may be followed by the patronymic and other elements. He never knew his father, Hussein Abd al-Majid, who disappeared six months before Saddam was born, shortly afterward, Saddams 13-year-old brother died of cancer. The infant Saddam was sent to the family of his maternal uncle Khairallah Talfah until he was three and his mother remarried, and Saddam gained three half-brothers through this marriage. His stepfather, Ibrahim al-Hassan, treated Saddam harshly after his return, at about age 10, Saddam fled the family and returned to live in Baghdad with his uncle Kharaillah Talfah. Later in his relatives from his native Tikrit became some of his closest advisors and supporters. Under the guidance of his uncle he attended a high school in Baghdad. After secondary school Saddam studied at an Iraqi law school for three years, dropping out in 1957 at the age of 20 to join the revolutionary pan-Arab Baath Party, during this time, Saddam apparently supported himself as a secondary school teacher. Revolutionary sentiment was characteristic of the era in Iraq and throughout the Middle East, in Iraq progressives and socialists assailed traditional political elites. Moreover, the nationalism of Gamal Abdel Nasser in Egypt profoundly influenced young Baathists like Saddam. The rise of Nasser foreshadowed a wave of revolutions throughout the Middle East in the 1950s and 1960s, with the collapse of the monarchies of Iraq, Egypt, and Libya
₽5,227 billion[1] (2016)
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