Sample Essay About Video Games - Easy Guide to Writing It

Sample Essay About Video Games - Easy Guide to Writing ItThere are so many ways to write a sample essay about video games. You can easily find a guide on how to prepare it. So, you can write and submit it to various gaming magazines and also popular blogs.First thing you need to do is to read about what people think about the game. Many online sources are accessible for you to learn more about it. Moreover, you can also view online videos which are always published on various gaming sites. So, you can find out what people are saying about the video games.On an internet related site, you can also find links which will lead you to several articles which talk about the online gaming. You will also get to know about other video games that are also produced by video game companies.Games for your personal amusement are also the best thing that could be made. Thus, you have to make sure that you are playing the game in proper condition. As a result, you will not have the problem of getting bored and never want to play the game.Aside from the benefit of playing video games, they also save time. So, you can have more time to enjoy with your family and friends.Other than writing the sample essay about video games, you also need to take care of its contents. You should write on a specific period of time. For example, if you are writing it for a semester, you can start it in the beginning of the semester and finish it by the end of the semester.As a conclusion, writing a sample essay about video games is very easy. Thus, you don't need to worry and you can easily finish it. Just remember that you need to finish it in a specified period of time.

Dollars versus the euro will dollar be the dominant currency in ten years time essay

Dollars versus the euro will dollar be the dominant currency in ten years time essay Dollars versus the euro: will dollar be the dominant currency in ten years time? essay Dollars versus the euro: will dollar be the dominant currency in ten years time? essayThere are several advantages of the U.S. having its own currency as compared to the European countries using the Euro: a) the American economy can better respond to crisis situations and financial shocks because the country has a unified monetary policy, unlike the Eurozone; b) there is a greater flexibility of workforce, investments and greater cultural commonality between the states compared to the European countries; c) the instruments of monetary and fiscal policy in the United States are used quicker and in a more efficient way than the assistance provided by the Eurozone to failing economies, and d) the United States is more financially, politically and economically integral than the Eurozone.Given the current strength of the U.S. dollar, the U.S. government is likely to continue lending large amounts of money at low interest rates for at least a year; after that time, interest rates will grad ually increase and the volumes of borrowing will start declining. The current position of the Fed to keep the interest rates low allows to expect at least 6 months of active borrowing. However, the notable improvement of economic growth expected in 2015 and soaring budget deficits in the United States urge the Fed to start increasing interest rates eventually (Wiseman Crutsinger, 2014), so it is likely that in 2016 interest rates will slowly go up.Current dominant position of the dollar at the international market compared to the euros position is conditioned by several factors. First of all, the currency is one of the instruments of monetary policy, which, along with fiscal policy, is used for responding to business cycle changes in Keynesian model (Jaffe, 2011). The United States currently uses expansionary monetary policy in order to stimulate the economy, to attract investors and to encourage spending (Jaffe, 2011). At the same time, the Eurozone is not so consolidated in fisca l sense as the United States (Groux, Rady Maniam, 2011). While all countries in the Eurozone have the same currency, their monetary and fiscal policies are different, and the framework for making monetary decisions is still emerging in the Eurozone (Rose Dickens, 2012). Therefore, while the United States can quickly respond to crises using a sound combination of monetary and fiscal measures, the ability of European countries to use monetary measures is limited since they cannot control the currency as the United States does (Rose Dickens, 2012).Secondly, the leading position of the dollar in the role of the worlds currency is explained by greater attractiveness and openness of the U.S. economy compared to the Eurozone. The GDP of the United States grows significantly faster than GDP of the Eurozone 3.9% and 0.2% of GDP growth accordingly in the first quarter of 2014 (Trading Economics, 2014). The economy of the United States is decently recovering from the consequences of the 20 08 financial crisis, while the recovery in the Eurozone is quite slow. These processes are explained by notable economic, political and financial diversity witnessed in the Eurozone. Different countries have varying economic priorities, different (and often conflicting) political interests, diverse approaches to governmental regulation of the economy.Furthermore, economic health of the Eurozone members is also quite varied; for example, the economies of Germany, France and Finland demonstrate strength for a long-term period, while the economies of Greece, Portugal, Slovenia are weak and require additional support (Groux, Rady Maniam, 2011). Contrastingly, the United States is more unified, both in terms of political regulation and in terms of financial soundness. American states share a common culture, common economic system, similar monetary and fiscal measures, and there are no such gaps between the financial viability of the U.S. states as there are between the countries of the Eurozone.Thirdly, the research of Groux, Rady and Maniam (2011) shows that dollar as currency is advantageous because of high workforce mobility and reduced possibility of asymmetric financial shocks in the United States. For example, if some events damage the financial viability of one state, the workforce from this state will move to financially stronger states and the balance of labor supply and demand will be preserved. Furthermore, the interests of Eurozone countries are different and in case of an asymmetric shock the government of the affected country will likely act to support own country instead of benefiting the Eurozone as a whole. In the United States, such situation would be resolved at the federal level to achieve optimal outcomes for the whole country (Groux, Rady Maniam, 2011).Finally, the mechanisms of addressing financial shocks and crises in the United States are more efficient and more balanced compared to the Eurozone frameworks. The decisions related to provid ing financial assistance or easing monetary policy are done at the ECB level and require a lot of time and effort for implementation. These procedures in the United States are easier because of low political and economic dispersion in the country. For example, there are federal programs of unemployment assistance, Medicaid and assistance to local businesses in difficult economic situations (Rose Dickens, 2012). In the Eurozone, the countries can also receive external assistance but the major load is on the internal budgets. In addition, economic issues and incorrect policies in the neighboring countries might aggravate economic shocks and slow down the rate of financial recovery (Rose Dickens, 2012).Regarding the interest rates, the tendencies indicate that the Fed will eventually start increasing interest rates, but currently it is reluctant to do that quickly. On one hand, the economy of the United States is experiencing debt drain due to increased borrowing and spending (Jaffe, 2011). The reliance on expansionary policy was reasonable as it allowed the United States to stimulate the processes of economic recovery and financial revival; at the same time, long-term interest rates in the country are kept at the record low level of 0.25% for 6 years already, and it is essential to raise interest rates in the future in order to avoid debt drain and to reduce budget deficits (Jaffe, 2011). This increase of interest rates is also important since the rates currently are at the record low level and if there emerges a need to use monetary easing, this instrument   be used for reviving the economy during recession and/or shocks. Therefore, when the economic growth becomes stronger, it would be necessary to increase interest rates.The Fed’s decision in September 2014 was to keep interest rates at the low level for some more time; however, the Fed also announced a $10 billion cut of mortgage and Treasury bond purchases, anticipating that the economy will grow stronger in 2015 (Wiseman Crutsinger, 2014). Such signals as the highest rate of job openings in the United States, anticipated GDP growth of 3.3% in 2015 (Wiseman Crutsinger, 2014), strong dollar and leading position of the United States in the international market indicate that the Fed might start the policy of increasing interest rates and cutting spending in the near future (1-2 years).Furthermore, the Fed announced that its short-term borrowing rate will increase to 1.38% in 2015 from 1.13% in 2014 (Wiseman Crutsinger, 2014). Hence, it is reasonable to assume that current borrowing rates will remain low for 6 months-1 year, and after that time the Fed will gradually reduce spending and raise interest rates to address the issue of potential debt drain and to decrease budget deficit in the United States.

Qu es el advance parole o permiso de viaje

Qu es el advance parole o permiso de viaje El advance parole es un permiso de viaje es un requerimiento indispensable para que algunos extranjeros que se encuentran en los Estados Unidos puedan viajar fuera del paà ­s y regresar. Este artà ­culo informa sobre quià ©n,  deben solicitarlo, cundo, cà ³mo, costos, consecuencias de viajar sin solicitar este permiso y quà © formas puede tener una vez que es aprobado. Quià ©nes deben solicitar el permiso conocido como advance parole Son varias las categorà ­as de extranjeros que deben solicitar el advance parole para viajar al extranjero y regresar. Pero el punto comà ºn que tienen todos ellos es que son personas que estn en la actualidad en los Estados Unidos y que si viajan al extranjero sin el permiso de viaje  no podrà ­an regresar porque carecen del debido documento migratorio, como serà ­a una visa vlida o la tarjeta de residencia permanente.   A continuacià ³n, las situaciones en las que es necesario solicitar un advance parole o permiso de viaje: 1. Ajuste de estatus   La ms comà ºn es la de las personas que han solicitado un  ajuste de estatus  en el  proceso para adquirir la tarjeta de residencia (green card). Por ejemplo, algunos esposos de ciudadanos americanos y que cumplen con una serie de requisitos. Mientras se demora el proceso de ajuste de estaus, estas personas pueden viajar al extranjero siempre si tienen un advance parole. Sin embargo, no todas las personas en proceso de ajuste deben solicitarlo. Y es que existen las siguientes excepciones: las personas que ingresaron al paà ­s con visas K-3 (esposos de ciudadanos)K-4 (hijos de ciudadanos)H-1B (profesionales)   L-1 (transfer entre empresas) y que cuentan con una visa vlida. Es muy importante el requisito de la validez del visado, ya que si no lo es, se deber pedir el advance parole mientras se est en el proceso del ajuste de estatus. Asimismo, los que solicitan el ajuste porque ya tienen un estatus de refugiado o de asilado aprobado  y està ©n en proceso de ajuste de estatus para obtener la green card deben solicitar el documento para viajar al extranjero y poder regresar (ver ms abajo cul aplica a este caso) y no el advance parole. 2. Solicitante de asilo Las personas que tienen una peticià ³n de asilo pendiente tambià ©n deben solicitar el advance parole antes de viajar fuera de los Estados Unidos. Pero no las que ya lo tienen aprobado, a quienes corresponde un documento para viajar (ver ms abajo). 3. Visa T o visa U aprobada La visa T se concede a personas que han sido và ­ctimas de trata de personas Por su parte, las visas U se otorgan a và ­ctimas de determinados delitos que han colaborado con las autoridades para resolver un crimen o lograr la condena del delincuente.   Sin embargo, cabe destacar que mientras se procesa la visa U o la T y est pendiente su aprobacià ³n, es aconsejable no viajar fuera de los Estados Unidos.   4. Accià ³n diferida aprobada Los muchachos y muchachas entre 15 y 30 aà ±os que hayan solicitado la accià ³n diferida, tambià ©n conocida como DACA, por sus siglas en inglà ©s,  y que ya la tengan aprobada pueden solicitar un advance parole para viajar al extranjero. 5. TPS Es una situacià ³n excepcional de proteccià ³n temporal que permite a los ciudadanos de determinados paà ­ses y que reà ºnen todos los requisitos seà ±alados por la ley permanecer en Estados Unidos y trabajar legalmente. En la actualidad aplica a ciudadanos de: El Salvador, Guinea, Haità ­, Honduras, Liberia, Nepal, Nicaragua, Sierra Leona, Somalia, Sudn, Sudn del Sur, Siria y Yemen. Quià ©nes no pueden pedir un advance parole Aunque una persona se encuentre dentro de las categorà ­as nombradas, es decir, ajuste de estatus, TPS, asilo pendiente, visa T o Visa U aprobados, no se puede solicitar el advance parole si se est en un proceso pendiente de deportacià ³n o expulsià ³n. Destacar que la excepcià ³n son los muchachos con DACA aprobado. Adems, consultar con un abogado en todos los casos si es que se tienen una cita para comparecer en una corte migratoria o se tienen cualquier asunto criminal pendiente o una condena por un tema de delitos o faltas. Por otro lado, no pueden solicitar este permiso para viajar los migrantes indocumentados excepto, como ya se ha dicho, los muchachos con DACA aprobado, quienes en la actualidad se encuentran en una situacià ³n que podrà ­a calificarse de semi-legalidad.  ¿Cà ³mo se solicita el advance parole? Llenando el formulario I-131. Marcar la casilla correcta, ya que este documento tambià ©n se solicita para los casos en los que se pide un permiso de reentrada o un documento de viaje (ver ms abajo). Por lo tanto hay que checar dos veces para verificar que se marca lo correcto.   Si se est en un proceso de ajuste de estatus lo ms frecuente es que se envà ­e al mismo tiempo junto con el documento en que se solicita el ajuste y un permiso de trabajo.  ¿Cundo debe solicitarse el advance parole? Antes de salir de Estados Unidos. Adems, tener en cuenta que en la mayorà ­a de los casos es necesario que le tomen al solicitante las huellas digitales (dactilares), para lo cual recibir una cita. Si se viaja fuera antes de este trmite se considera que se ha abandonado la peticià ³n de advance parole, que queda sin efecto. Costos El costo de aplicar depende de la situacià ³n de cada uno y la razà ³n por la que aplica y hasta puede ser gratis.   Si se solicita el permiso de viaje junto con el ajuste de estatus y el permiso de trabajo ya no es necesario pagar una cuota adicional.   En los otros casos, la cuota es de $360, pero verificar siempre en el documento del USCIS en el que explica cà ³mo llenar el formulario, ya que esa cantidad puede cambiar.  Tambià ©n se puede verificar el costo llamando gratuitamente al USCIS a su servicio de atencià ³n al cliente marcando al 1-800-575-5283. Adems, en algunos casos es posible solicitar una exencià ³n del pago y asà ­ saldrà ­a gratis.  ¿Cunto se demora el advance parole? Suele tardar unos dos o tres meses en procesarse. Es posible solicitar una tramitacià ³n acelerada marcando al Centro Nacional de Atencià ³n al Cliente al 1-800-375-5283 o incluyendo una carta en la aplicacià ³n en la que se adjunta documentacià ³n que sirve para apoyar la peticià ³n. En casos realmente urgentes es posible que el solicitante se presente en una oficina del USCIS. Se puede buscar la ms cercana en esta aplicacià ³n. Bajar el cursor a mitad de pgina y ahà ­ clicar en el mapa de Estados Unidos encima del estado en el que se reside.   En este caso, se debe llevar la aplicacià ³n del I-131, un cheque para el pago de la tarifa, dos fotos tipo pasaporte y documentacià ³n de apoyo para demostrar la urgencia. Por ejemplo, un certificado de defuncià ³n o un informe mà ©dico.  ¿Cà ³mo luce e documento en el que se aprueba el advance parole? Una vez que el USCIS aprueba este permiso, puede lucir de dos formas: El documento que se conoce como I-512Una tarjeta de permiso de trabajo que sirve a su vez como advance parole y asà ­ lo dice el propio documento en la frase serve as I-512 Advance parole.  ¿El permiso de viaje o advance parole garantiza el ingreso a Estados Unidos? La respuesta a esa pregunta es negativa. Y es que siempre hay que tener presente que la à ºltima palabra la tiene el oficial migratorio de la CBP.   Adems, tener en cuenta que las personas que ingresan, que son la mayorà ­a, son consideradas desde el punto de vista migratorio como parolee y, por el contrario, no es un admitted. Esta es una distincià ³n tà ©cnica y jurà ­dica que conviene tener en cuenta.  ¿Cules son las consecuencias de no solicitar el advance parole? Se puede salir de Estados Unidos, pero el problema aparece en el momento en que se quiere regresar. El oficial migratorio puede impedirlo y en ese caso se tendr que esperar fuera de Estados Unidos a que finalice el proceso. Adems, en algunos casos en los que la persona ha estado en Estados Unidos ilegalmente por ms de 180 dà ­as puede saltar el problema aà ±adido del castigo de los tres y de los cinco aà ±os.   Finalmente, otra consecuencia es que se considere que se ha abandonado el trmite migratorio pendiente, con lo cual habrà ­a que iniciarlo de nuevo. Casos distintos al del advance parole, pero similares y que a veces se confunden Hay otros permisos para regresar a los Estados Unidos que no pueden confundirse con el advance parole. Se piden utilizando el mismo formulario pero se marca una casilla diferente. Las personas que tienen el estatus de refugiado o de asilado deben solicitar un documento que se conoce como documento para viajar para refugiados (refugee travel document, en inglà ©s), para estar capacitados para viajar fuera de los Estados Unidos. Los asilados no deben confundir dos situaciones: cuando la peticià ³n de asilo est pendiente, que es un advance parole lo que deben solicitar, y cuando el asilo ha sido aprobado, que se debe solicitar un refugee travel document.   A veces existen confusiones porque se pide utilizando el mismo formulario, el I-131, pero son distintos los documentos que se obtienen. Fijarse bien en el cuadradito que se marca cuando se pide el beneficio. Tambià ©n deben solicitar este documento para viajar los familiares de los refugiados y de los asilados que obtienen este estatus de forma derivada. Por otro lado, con el mismo formulario I-131 puede solicitarse un permiso de reentrada, que es diferente al permiso de viaje o advance parole. El de reentrada es un permiso por el que deben aplicar los residentes permanentes legales o los residentes condicionales que van a pasar ms de un aà ±o. Y es que los residentes tienen la obligacià ³n de residir en los Estados Unidos y tienen que respetar ciertas reglas de tiempos en sus estadà ­as en otros paà ­ses. Por el contrario,un caso completamente distinto es el de los residentes permanentes que sà ³lo tienen la green card estampada en el pasaporte porque todavà ­a no han recibido la de plstico. Estas personas pueden viajar sin necesidad de pedir permiso previo. Parole que pueden pedir las personas que se encuentran en el extranjero para ingresar a USA Un caso completamente distinto es el del parole que piden extranjeros fuera de Estados Unidos para ingresar al paà ­s. Aquà ­ se hace una mencià ³n porque a veces se confunden con el permiso para viajar. Pero son cosas diferentes que aplican a casos distintos. Los casos de parole que se solicitan desde el extranjero son: Por razones humanitarias extraordinarias como razones mà ©dicas o legales, como por ejemplo, testificar en un juicio.Programa de menores centroamericanosPrograma de reunificacià ³n familiar para cubanos y haitianos Conclusià ³n Los extranjeros presentes en Estados Unidos con un proceso migratorio pendiente deben asegurarse antes de viajar a otro paà ­s si para ellos existe el requerimiento de solicitar un advance parole antes de salir. Y eso aplica asà ­ sea para cruzar a Canad o a Mà ©xico a una localidad justo pegada a la frontera con Estados Unidos y por sà ³lo unas horas. Este artà ­culo es meramente informativo. No es asesorà ­a legal.

Metamorphosis Franz Kafka Essay Example | Topics and Well Written Essays - 500 words

Metamorphosis Franz Kafka - Essay Example ver, the much she takes care of her brother by providing him with food, making his room cozier to adapt in his transformed body as well as trying to keep his shreds of human left in him alive, shows that she is indeed of a caring character. However, her stage in life, as a young adult, demands that she engage in responsibilities such as getting her family and consequently sustaining it. By so doing, she endeavors to generate income to provide for her family. As much of these happen in Grete’s life, she slowly gives up caring for Gregor, with the excuse that she has income generating activities as her priority in order to meet the needs of her family. Dehumanization emerges when she gives up caring for her brother to chase worldly things such as money. This is the chief cause of Gregor’s death as he dies out of starvation. Gregor’s transformation is what creates conflict in the text. It elicits varied responses from those people in his life. There is alienation in the form of the distance that is created between him and them after the transformation. He feels as if in he is caged in a prison of his new body while, on the other hand, his family and friends struggle with feelings of sympathy and revulsion towards Gregor. Gregor’s death resolves the conflict caused by his transformation. The setting plays an important role in the reinforcement of the theme and characterization. Gregor’s bedroom in which he wakes up from a dream and finds himself transformed forms the boundaries of Gregor’s activities. One learns of Gregor’s character through his interaction with much of what is found in this room. Also important in the development of characterization is the entire building that houses the members of Gregor’s family. In communicating the theme of dehumanization, the author employs various literary devices that include symbolism, metaphors, foreshadowing among others. For instance, the picture of the woman in furs which Gregor clings to when things are

Assignment Example | Topics and Well Written Essays - 500 words - 176

Assignment Example The archeologists further discovered how the city came into being; through a lava-tube cave. These caves and other physical features, according to the archaeologists, symbolized the gods and ancestors of Mesoamerica (Archive.archaeology.org n.p). Other than their religious significance, the features were also used as a focal point for settlement and other activities. The city expanded at a fast pace during the second century until the A.D 600. The city was later torched down around A.D 750 by invaders (Archive.today n.p). The archaeologists, from their findings, concluded that the city’s residents were multiethnic and worshipped a goddess. The discovery of the burial site was the breakthrough of 1999, which was after the discovery of various mass graves from 1982 to 1989. The 2003 excavation at the Teotihuacan led to the discovery of three burial sites believed to belong to elite individuals. In these burial sites, Maya artifacts were present. These Maya artifacts further linked the Mexican capital to the southeast Maya region (Archive.archaeology.org n.p). The remains of these elite individuals were found in cross-legged position and various Maya-style artifacts such as shells, obsidian and other ceremonial items. The discovery of Mayan artifacts confirmed the interaction between the Mayan and Teotihuacan communities. The use of Mayan artifacts by royalty suggests that the two communities influenced each other greatly. This discovery is vital in giving historians insight about the ruling of the city of Teotihuacan. The discoveries on the ancient city of Teotihuacan shed light on this ancient civilization. The presence of mass graves meant that the Teotihuacan community participated in sacrificial rituals (Asu.edu 2014). These sacrificial rituals were very vital to this community as they celebrated state power at the pyramid of the moon. The vastness and orderliness in design

Credit Rating of Uttara Bank Limited Essay

1.1. Rationale of the Report In today’s world, banking sector has become an integral part of overall economy around the world. Millions of people are involved in banking sector. In Bangladesh, banking sector has experienced enormous growth over the past few decades. Millions of depositors, borrowers and other related parties have interest in this sector. Creditworthiness of banks is rated by CRAB and CRISL in Bangladesh. The idea behind our report on â€Å"Credit Rating Report on Uttara Bank Limited (UBL)† is to give credit rating of UBL by considering both qualitative and quantitative factors with judgement. 1.2 Origin of the Report This report has been prepared as a requirement for completion of MBA program under University of Dhaka. We have prepared the report under course F-504(Fixed Income Securities) with directions and valuable guidelines from our honorable course teacher Muhammad Mujibul Kabir, Associate Professor, Department Of Finance, University Of Dhaka. 3. Objectives of the Report Broad Objective: To do credit rating of Uttara Bank Limited (UBL) by considering important qualitative and quantitative information along with application of proper judgment. Specific Objectives: The objectives of the report are- âž ¢ To have an overall picture regarding the credit rating procedure of banking sector. âž ¢ To be informed with the trend and performance of the bank. âž ¢ To get an idea of factors affecting credit rating score of UBL. 4. Scope of the Report This report has been prepared to do credit rating of a particular bank (UBL) as assigned by our course teacher. 5. Methodology 1.5.1 Data Collection: The report is primarily based on secondary and published information. The major sources of information are published research reports and papers, DSE library, newspapers, data from annual report of UBL and peer banks, rating methodology of S&P etc. 1.5.2 Techniques of Data Analysis Both qualitative and quantitative statistical techniques were used for this research. †¢ Qualitative tools: bar graphs and trend line were used to present the collected data. †¢ Software used: Microsoft Excel 2007, Microsoft word 2007, stata software version 10. 6. Limitations In preparing the report, the main limitations that we faced were- †¢ Reliance on secondary data, mainly annual reports of banks. Sometimes, published data suffer from accounting manipulation. †¢ We had to prepare the credit rating report within a short time frame. Taking more time would have made the report more comprehensive. SECTION-II: THEORETICAL DISCUSSION ON CREDIT RATING 2.1. Why Credit Rating Is Necessary A credit rating evaluates the credit worthiness of a debtor, especially a business (company) or a government. It is an evaluation made by a credit rating agency of the debtor’s ability to pay back the debt and the likelihood of default. Credit ratings are determined by credit ratings agencies. The credit rating represents the credit rating agency’s evaluation of qualitative and quantitative information for a company. The credit rating is used by individuals and entities that purchase the bonds issued by companies and governments to determine the likelihood that the government will pay its bond obligations. A poor credit rating indicates a credit rating agency’s opinion that the company or government has a high risk of defaulting, based on the agency’s analysis of the entity’s history and analysis of long term economic prospects. 2.1. Corporate Credit Ratings The credit rating of a corporation is a financial indicator to potential investors of debt securities such as bonds. Credit rating is usually of a financial instrument such as a bond, rather than the whole corporation. There are two types of corporate credit rating: 1. entity rating 2. issue rating In Bangladesh, credit rating agencies conduct entity rating. However, issue rating may be different from or similar to or better than entity rating. Issue rating may be higher than entity rating if a particular issue is backed by sufficient collateral, third party guarantee. 2.3. Rating Methodology For the credit rating of the selected companies we have considered the guidelines provided by our course teacher. Credit rating is â€Å"an objective and impartial opinion on the ability and willingness of an issuer to make full and timely payments of financial obligations.† This opinion is conveyed in a simple alphanumerical scale, for easy reference and comparability. We have analyzed both the qualitative and the quantitative factors of the banking industry as a whole and also various factors of the companies itself. In the part of qualitative analysis we have analyze the industry risk, keys to success, diversification factors, firm size, management quality, quality of the financial reporting, performance in the industry. In the quantitative analysis we consider the profitability, cash flow adequacy, capital structure and financial flexibility. We have assigned some points on both the qualitative and quantitative information to get the exact rating. As for the sustainability of an organization both the quality of the management and quantitative figure that means company’s financial performances are equally important. We have assigned more weight for qualitative part than quantitative part. 2.4. Company Background Uttara Bank is one of the largest and oldest private-sector commercial banks in Bangladesh, with years of experience. Adaptation of modern technology both in terms of equipment and banking practice ensures efficient service to clients. 215 branches at home and 600 affiliates worldwide create efficient networking and reach capability. Uttara is a bank that serves both clients and country. The Bank had been a nationalized bank in the name of Uttara Bank under the Bangladesh Bank (Nationalization) order 1972, formerly known as the Eastern Banking Corporation Limited which started functioning on and from 28.01.1965. Consequent upon the amendment of Bangladesh Bank (Nationalization) order 1972, the Uttara Bank was converted into Uttara Bank Limited as a public limited company in the year 1983. The Uttara Bank Limited was incorporated as a banking company on 29.06.1983 and obtained business commencement certificate on 21.08.1983. The Bank floated its shares in the year 1984. It has 215 branches all over Bangladesh through which it carries out all its banking activities. The Bank is listed in the Dhaka Stock Exchange and Chittagong Stock Exchange Ltd. as a listed company for trading of its shares. At present, the authorized capital of the bank was Tk 5000 million divided into 500 million shares of Tk 10 each. The issued and paid up capital is Tk 3306 million. Since beginning, the bank acquired confidence and trust of the public and business houses by rendering high quality services in different areas of banking operations, professional competence and employment of the state of art technology. During the last 47 years, UTTARA Bank Limited has opened 215 Branches in different Business Centers of the country SECTION-III: QUALITATIVE ANALYSIS Qualitative analysis A. Industry Risk In preparing credit rating report, industry analysis is a subject of great importance. Level of competition in the industry affect the profitability of a company. Different industries react differently to economic changes. Cyclical industries do much better than the aggregate economy during the expansion whereas they suffer more during contraction. In contrast, non-cyclical industries such as banking industry would experience a significant decline during a recession and also would do better during an economic expansion. Competitive advantage and disadvantage of banking industry can be examined by Michel Porter’s 5 factors model. The potential threat of new entrants is moderate for banking industry due to following reasons – †¢ Growth of the industry is very high which is creating field for the new company that is observed during the past several years. †¢ Huge population of the country provides a large customer base. †¢ Entry into the banking sector requires huge equity capital investment for establishing branches and related infrastructures. †¢ Established companies have absolute cost advantage relative to potential entrants. †¢ There exists Government regulation to enter into the industry. The level of profitability is primarily influenced by the nature of rivalry among firms within the industry. Several factors determine the intensity of competition among existing players in an industry. The rivalry among existing competitors is high for banking industry due to following reasons – †¢ Price and non-price Competition among banks has increased recent years. †¢ High fixed costs. †¢ Exit barriers are high as the firm can’t exit as they wish and there is regulatory burden. †¢ Banks are trying to grab market share by offering various price and non-price products †¢ Banking products are not differentiated and easy to copy by other banks. The third dimension of competition in an industry is the threat of substitute products or services. The threat of substitute product in banking industry is high for the following reasons: †¢ New Products are easily and quickly adopted by other competing banks. †¢ Non-bank financial institutions (NBFIs) offer many of products and services offered by banks. There are two factors which determine the bargaining power of buyers; price sensitivity and relative bargaining power of buyers. By focusing these two issues, the bargaining power of buyers in banking industry is discussed below – †¢ There are large numbers of banks. †¢ Banks depend on the buyers for a large percentage of its total revenue. †¢ Customer switching cost is low. †¢ Inability to backward integration. †¢ Buyers are highly price sensitive. The bargaining power of suppliers is high for banking industry due to following reasons †¢ Banks depend on loan and deposits as their primary products. †¢ There are a large number of banks already operating in the country. Assigned Rating: |Rating |Rating Score | |Industry Risk |7.5 | B. Key to success Factors ⠝â€" Strategic focus Uttara Bank has prioritized the areas depending upon the business need and regulatory requirements with the change in technologies and delivery process. The Bank rendered special focus on growth and expansion to comply with the changing characteristics of capital market. As a result of this, â€Å"UB Capital and Investment Limited† a fully owned subsidiary company has been formed in 2010 to carry out merchant banking operation in compliance with the regulation of the Securities and Exchange Commission. In the meanwhile the company is operating its activities in related field. Resource mobilization was centered round delivery channels, technology, people and brand. Bank’s operation has achieved the confidence of its customers with sound fundamentals in respect of deposit accumulation, loans and advances, export-import business, remittance collecting from abroad and profitability. The Bank has also put special emphasized on SME financing considering the sector as a tool of diversifying portfolio to minimize risk. Again the bank has also rendering its services in Women Empowerment Development Scheme, Agricultural sector and Rural Financing sector. ⠝â€" Corporate Credit Uttara Bank’s business is focused to a considerable extent on the corporate clients by maintaining a relationship and extending financial assistance based on a deep understanding of the clients’ business environments, financial needs and internal strategies for growth. The bank extends its financial support to the corporate clients either from own finance or by arranging syndicated/club finance. The investment in corporate sector is the combination of a mixed and balanced allocation in various natures of business based on the socio-economic perspectives and long term planning. The bank distributed Tk. 2774.1 million as funded and non-funded facilities in Syndication Finance. The outstanding balance of same was as on 31.12.2011 was Tk. 1596.2 million. The Bank participated in syndication finance with 21 companies. Some of them were BSRM Steels Ltd., Pacific Telecom Bangladesh Tel Ltd.(Citicell), Ranks Tel Ltd., Samuda Chemical Complex Ltd., Banga Building Materials Ltd., Pran Foods Ltd., Capital Board Mills Ltd., Creative Paper Mills Ltd., Everest Power Generation Company Ltd., Appolo Ispat Complex Ltd., PHP Float Glass Ind. Ltd., Dhaka Telephone Co. Ltd. (DTCL), Tele Barta Ltd.(TBL), Orascom Telecom Bangladesh Ltd. (Banglalink), Venture Capital Energy Ltd and many other reputed organization. The Bank worked as a participating financial institution in syndication finance. ⠝â€" Branch Network As on 31 December 2011, Uttara Bank Ltd had 211 branches in different geographical locations of the country. Branches are classified under different zonal office. Out of these 211 branches, 23 branches are under Dhaka Central Zone, 23 branches are under Dhaka North Zone, 20 branches are under Dhaka South Zone, 13 branches are under Narayangonj Zone, 08 branches are under Mymensingh Zone, 17 branches are under Camilla Zone, 19 branches are under Chittagong Zone, 21 branches are under Sylhet Zone, 16 branches are under Khulna Zone, 18 branches are under Barisal Zone, 12 branches are under Rajshahi Zone and 19 branches are under Bogra Zone. ⠝â€" Technology As one of the oldest commercial banks in the country, Uttara Bank uses latest information and communication technology. The extensive use of ICT in banking operations is increasingly a matter of concern about the risk associated with information technology. The bank has formulated well defined ICT policy in line with the international best practices and prudential guidelines of Bangladesh Bank on ICT Security. In all branches of the bank, banking operations are conducted through computerized system to minimize cost and to optimize benefits and increase overall efficiency for improved services. The branches have ability to prepare the financial statements at the end of the day. Bank has a guideline named â€Å"Guideline on information and Communication Technology (ICT)† as per Bangladesh Bank BRPD circular 14 dated 23.10.05. The bank has signed an agreement with LEADS Corporation limited, Software Company, for implementation of Core Banking Solution â€Å"Bank Ultimas† in the Bank. The Bank continues maintenance of the latest financial service products REUTERS-3000 Xtra and REUTERS Dealing System (RDS) for collecting accurate information of rapid changing position of international money market with Bank’s own independent Dealing Room. As a result the Bank has been able to render Treasury service up to the international standard through its Treasury Division which is equipped with most modern technology and expertise manpower. At present International Division of Head Office and 38 branches are under SWIFT operation. As a result the bank has been able to conduct international trade including transmission of letter of credit, fund and message instantly throughout the world at low cost. ⠝â€" Human Resource The Bank has always recognizes the contributions of its human resources as they individually and collectively render their force to the achievement of the objectives of the organization. Human Resources Division of UBL worked with the business as the core strategic partner through performing the job of recruitment, training, placement, and through introduction of the performance management tools. UBL is an employer of equal opportunity irrespective of gender equality. The total manpower of the Bank as on 31 December, 2011 is 3,780 out of which 2,687 are officers and 1,093 are the supporting staffs. Efforts have been made to rationalize the use of manpower by improving their efficiency and productivity. The Bank’s own Training Institute is nicely decorated and equipped with the sophisticated instruments has been striving to bring about a qualitative change and improvement in human resources of the Bank by imparting continuous different raining throughout the whole year. Guest speakers specialized in Banking participate in each of the training program excluding highly educated faculty members of the bank. Besides, a number of executives and officers were sent to various Training Institutions including BIBM and abroad for higher training. In 2011, the training institute of the bank arranged 17 different training courses and 13 workshops for the officers and members of the staff of the Bank in which as many as 628 and 845 officers and members of the staff of the bank participated respectively. At the same time, 92 officers and members of the staff of the bank attended training courses arranged by BIBM, 44 officers received training from Bangladesh Bank, 22 officers received others and 2 executive received training from abroad.

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