Sunday, October 24, 2010

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Forex UK

FOREX, or foreign exchange, refers to the international market for trading currencies. Every day millions of individuals, banks, and other institutions buy and sell currencies. The actual exchange of currencies is done electronically between the trading parties. Because every time zone in the world has at least one country with a currency in it, the foreign exchange market is active 24 hours a day.
DEVELOPMENT OF FOREX
The purpose of foreign exchange is to foster and facilitate international trade and investment. The FOREX market allows businesses and individuals to convert one currency to another at prevailing exchange rates. For example, suppose an American company wants to import merchandise from a Japanese company. In order to pay for the merchandise the American company has to go to a FOREX dealer, receive yen for dollars, and make their purchase. As economic barriers fall and the world’s economies continues to integrate, trade will keep increasing rapidly and so too will the size of the FOREX market.Because of its high trading volumes, extreme liquidity, and longs hours, the FOREX market is considered the most efficient in the world. Market participants include central banks, large banks, multinational corporations, speculators, hedge funds, and other financial institutions. There is over $4 trillion traded globally every day. London is the center of international foreign exchange, accounting for 35% of the total daily volume. This is more than twice the volume of New York (16%) and several times that of Tokyo (6%).
FOREX IN THE UNITED KINGDOM
There are several reasons why London has come to dominate the international trade in foreign currency. Most important is London’s status as one of the financial capitals of the world. London has the existing infrastructure and market participants required to handle the high volume levels in the FOREX market. Also, the Pound Sterling is the fourth most actively traded currency and one of the strongest and most valuable currencies of world trade.
FOREX FUNDAMENTALS
Part of the reason for the vast increase in the daily volume of FOREX trades in the past years is the development of electronic trading. As with all other markets, the FOREX market originally involved “paper trading” between central banks and large financial institutions. Access to market information was limited and prices were delayed. There were also higher transaction costs due to the effort involved in executing a trade. With the advent of electronic trading, the costs of trading have drastically decreased while the accessibility to it has increased substantially. Along with the creation of the trading platform, which allows individual investors to access real time market data and participate in trading activities, these developments paved the way for the huge expansion of the FOREX market.
FOREX REGULATION IN THE UNITED KINGDOM
The London Foreign Exchange Joint Standing Committee (FX JSC) oversees the FOREX market in the United Kingdom. The FX JSC was set up in 1973 under the auspices of the Bank of England. Its work is aimed at furthering the discussion of ideas regarding the FOREX market and oversight.

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My husband and I went to Kish Island for our honeymoon and stayed at Daruish Hotel for 5 days. When we arrived, we had to wait for almost an hour to check in with 10 families that arrived at the hotel with us.Daruish Hotel has an elegant lobby and anyone who enters the lobby would think, oh what a gorgeous hotel, but rooms are not the same at all. They are pretty small and not luxurious like hotel’s lobby. At night, hotel building is really charming with all the beautiful lighting; however it doesn’t have the same appeal during the day time. Room service was O.K., but the restaurant was very expensive and the food was not that great.The Breakfast was 5 star and we loved it.On the whole, our stay at Daruish Hotel was O.K. but not what one would expect from a 5 star hotel.
We (two families) stayed for 4 nights in two separate rooms at this Hotel last December. We found it beautiful but snobbish.Pros: Nice location on a high area facing the Persian Gulf. It has two beautiful big gardens which are suitable for walking and enjoing the beauty of pond, fountains and flowers. Hotel was made based on Perspolis architecture so exterior and interior designs (especially lobby) are fantastic. Seaside rooms have a very beautiful view of sea and island.Cons: When watching details it is tinkered. rooms are big but not well decorated. wallpapers are scabbed in some areas.One of the main disadvantages is bathrooms. For a five star hotelt is not good.No attention to details, bad smell and leaking water from battub causes you feel being in a three star hotel.Reception staff are not friendly and somehow are arrogant. Some of reception staff treat you as you are supposed to respect them because they are a five star hotel staff.Although roommate staff were nice. The last day I phoned to ask for a bellboy to transfer our loggages to groundfloor but nothing happened. I phoned four times and finally after half an hour they sent sombody but we were told that because we are late we do not have free transportation service to the airport . We insisted that it was your fault that send the bellboy late. We treated badly by hotel staff at that time although we reobtained our transportation service.If I want to rate the hotel I will say the location deserves five star,rooms three, facilities four and staff and service only one star. Finally I only recommend it for its magnificent view from your window and its atmosphere. But only once.

Definition

Hunziker and Krapf, in 1941, defined tourism as "the sum of the phenomena and relationships arising from the travel and stay of non-residents, insofar as they do not lead to permanent residence and are not connected with any earning activity."[6] In 1976, the Tourism Society of England defined it as "Tourism is the temporary, short-term movement of people to destination outside the places where they normally live and work and their activities during the stay at each destination. It includes movements for all purposes."[citation needed] In 1981, International Association of Scientific Experts in Tourism defined Tourism in terms of particular activities selected by choice and undertaken outside the home environment.The United Nations classified three forms of tourism in 1994 in its Recommendations on Tourism Statistics: Domestic tourism, which involves residents of the given country traveling only within this country; Inbound tourism, involving non-residents traveling in the given country; and Outbound tourism, involving residents traveling in another country.The UN also derived different categories of tourism by combining the 3 basic forms of tourism: Internal tourism, which comprises domestic tourism and inbound tourism; National tourism, which comprises domestic tourism and outbound tourism; and International tourism, which consists of inbound tourism and outbound tourism. Intrabound tourism is a term coined by the Korea Tourism Organization and widely accepted in Korea.[citation needed] Intrabound tourism differs from domestic tourism in that the former encompasses policymaking and implementation of national tourism policies.[citation needed]Recently, the tourism industry has shifted from the promotion of inbound tourism to the promotion of intrabound tourism because many countries are experiencing tough competition for inbound tourists. Some national policymakers have shifted their priority to the promotion of intrabound tourism to contribute to the local economy. Examples of such campaigns include "See America" in the United States, "Malaysia Truly Asia" in Malaysia, "Get Going Canada" in Canada, "Wow Philippines" in the Philippines, "Uniquely Singapore" in Singapore, "100% Pure New Zealand" in New Zealand and "Incredible India" in India.