The value of GCC currencies Research Paper Example | Topics and Well Written Essays - 3250 words

The value of GCC currencies - Research Paper Example Conclusion: 14 8. Bibliography: 15 1. Introduction: The Gulf Cooperation Council (GCC) is also known as the Cooperation Council for the Arab States of the Gulf (CCASG). It is a political and economic union of the Arab states neighboring the Persian Gulf and the Arabian Peninsula. The six member states of the GCC are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates. They are often known as â€Å"The GCC States.† Some of the general objectives of GCC countries are a follows: promotion of scientific and technical progress in different industries like mining, agriculture, water and animal resources; setting up joint ventures among the member states; cheering cooperation of the private sectors; strengthening ties between the peoples of the member countries; and establishing and developing a common currency for all the member countries. The common currency of GCC is known as Khaleeji (meaning Gulf in Arabic). At present, the GCC monetary union is the third moneta ry union in the world in terms of GDP, after the Euro and 2) the unofficial monetary union between the United States and the Latin American countries which declared the US dollar as their currency. There are certain problems now facing the GCC council. According to IMF report (1997), the key challenge facing the GCC countries was the financial condition and valuation of the currency in the member countries of GCC. ... The exception in GCC is Kuwait, where the currency is valued to a group of currencies that is heavily weighted in favor of the US dollar. Therefore, the exchange of the Kuwaiti Dinar to the US dollar remains relatively stable. In last five year the rate of Kuwaiti Dinar is always within 0.27-0.29 to US dollar (QNB, 2012, p.31). During 2008, GCC countries were facing the inflation as it was reached up to 11. 2%. According to the financial analyst, revolution of the economy in the upward direction was helpful in order to control the inflation rate which helped to bring down the import cost. According to the report the GCC monetary union project was mainly inspired by the Euro. The problem which was face by different countries that have Euro as their currency is a helpful tool for the monetary policy makers in GCC countries to figure out the loopholes and act accordingly. This evaluation is helpful to figure out whether introducing a common currency for all the member countries of GCC i s efficient or not (QNB, 2012, p.31). 1.2. Economic Structure: It is very clear from different research that the growth of GCC as one of the strongest economy of the world is mainly on the basis of highs price of gas and oil (energy sector), and also with the help of rapid economic growth. During 2007-2011, the world GDP growth rate was 2.8% where as, GDP growth in GCC was a staggering 4.7% making it the fastest growing group of country in the world (QNB, 2012, p.4). According to the report of QNB (2012), the GCC economy has seen a golden period during 2003- 08, when GDP grew at the rate of 19.9%. This was a result of continuously increasing demand for energy sources as an outcome of robust global development, particularly in Developing Asia (QNB,

Ethics Essay Example for Free

Ethics Essay Businesses are concerned with their company image, breaking of the laws in work related duties and any doing that will involve a law suit against the company. This is mainly their reputation and restoring it will involve a lot of money. To avoid all of this, they adapt a moral behavior in knowing what is right and wrong for the company. Therefore ethics are derived from the moral obligations, profit maximization and in following the laws set. In human ethics, an individual is expected to prevent harm, be fair and just, respect the opinion of others, have a heart for others, to be honest and wiling to comply with the law (Pojman, 2004). In professionalism, there is need for objectivity and impartiality, avoidance of conflict of interest, confidentiality of information, duty of care respected, integrity and full disclosure of information. History of utilitarianism A proposition on utilitarianism lie with Hume but its formulation and understanding credit is received by Bentham. It was incorporated during the 18th century. It was intended to view the principle of utility and the motivation of human beings. They found out that happiness and pain were humans’ utility and that what generates more happiness to many people is the ultimate right. However, having a large number being happy was difficult thus they settled for principle of happiness to represent utilitarianism. Since then, it has been an influence to economics and used to support different political moves. Introduction Utilitarianism is a principle of moral ethics. It supports that a moral right action in a situation is the one that produces more advantages than disadvantages (Buckle, 2007). Many individuals use this type of ethics in daily decisions as it brings more benefits even if lies or manipulation of others were used. It is easily aid sin decision making process. The required courses of actions are identified then their advantages and disadvantages in value are highlighted and lastly the action that generates more advantages is then selected to be morally right. It is characterized by the relevant consequences, impartiality and neutrality of the action as every person’s happiness is counted the same. The act and rule utilitarianism are its types and have been competing on which real should be followed. In act, what benefits the people more is the right morals despite their different feelings. However, the rule type acknowledges the justice, fairness and benefits a large number of people. Therefore the rule values the people feelings, their laws and the benefits. They both have problems in comparing the exact consequences value in money and happiness since they all differ. They believe in obligation to the society and not the act of being a heroine. Since it is consequences on choice, they tend to predict the future. However, act type will be favorable to one today and may be unfavorable the next day. The rule type on the other hand, is very instable on what is actually morally right. Utilitarianism can be objective in supporting the effect that the rightness of an activity is whether it would indeed encourage and promote the goodness of the already available acts to the agents. On the other side, it can take the form of subjective utilitarianism. It involves that when choosing an activity one should first determine which activities of those available would mostly promote the good more than the others, then chose that activity. Critics against utilitarianism It is difficult t assign value in money form to certain items and acts such as human life, happiness, pain, pleasure and more feelings (Pojman, 2004). They could be representing opposition’s ideas in the sense that someone’s pleasure could be another individual’s pain. This does make the comparison of values difficult for a person to choose what action will give a high better pleasure. The benefits and costs value may be underestimated or overestimated. This principle violates the human conscious acts and the different personal ideas in interest of more valuable advantages of an action. It’s like it gives us permission to do harm but specifically little harm in order to gain. In protest then, little or more harm is still harm, it never changes. Lying for the sake of saving more benefits represents an injustice to human kind. It does not promote justice but rules in favor of injustice. It is difficult to know how right an action is when the law seconds some offences committed with the excuse of the principle of utilitarianism. It does not follow the law guide thus can at all times be interchanged to commit evil. The integrity, reputation and image of a person are lost with utilitarianism ethics. The consequences of a lie for the sake of creating more profits to a company, kills the integrity that was taught of being present. Maintenance of reputation is not easy and therefore loosing the little you have will mean a slow start in creating another image. It does not encourage creativity and development of products and services as it tends to cut out considerations of new ideas generation. To other individual this is a difference making on what and how they feel. They argue that each one is responsible for what hey do and not the value of how they do it. An individual might be creative and willing to undertake his idea a step ahead and fulfill it, may not succeed at all if the majority umber do not support his idea. Therefore, a chance of having had to grow an idea in other people no matte how good it would have been, is lost because of this system. It relies entirely on a single principle of ethics thus an action committed could either produce best or worst consequences despite the argument that it will provide more benefits. Different principles in deciding what is right or wrong have to be used on a single action so as to make the solution effective and efficient. It uses the human being as means to an end of suitable action by only considering happiness and equating it as the main pleasure of a person. By only counting happiness, it encourages individuals to do the right things for an entire wrong reason. After all, they can justify the evil doing as their happiness. The theory also concentrate on a belief that human are common in nature thus desires same things. It discourages the individual’s tastes and preferences. Some people even appreciate more things than others who do not even take an account of the thing presence. Humans are very different in personalities and their goals also differ. Grouping them a sonly one group of nature, is not justice and happiness at all. It does not take into considerations the potential intention of an individual in carrying out an action. An individual could be fulfilling his evil motives on an individual but ends up defending himself using the utility benefits thus being set free and innocent. Every action should be accounted for legally so truth of right and wrong could be identified. A person stealing money and justifying it that it was to be used for a sick person medical expenses, might b lying or not. He might be a thief in the making. Critics in support of utilitarianism In human moral life, majority value the self sacrificial factor and happiness. Utilitarianism supports these morals in their decisions as some are sacrificed and the happiness of the people affected by the consequence mattering a lot (Mayer, 2009). An individual known for self sacrificial mostly promotes peace, loyalty and unity. If an organization is willing to sacrifice some items for the entire society benefits, it is received well and brings happiness which is the goal of utilitarianism. It promotes equality, impartiality, fairness and neutrality in all its decisions (Buckle, 2007). This is because to them no one deserves special treatment at the expense of another as they are all equal. A decision is basically made from everybody’s point of view with consideration of the majority. If the majority needs a company closed down, then that percentage would be a representation that every individual of that area wants the company closed. The consideration of the outcome of an activity is important. This theory is in support of knowing the consequences first before undertaking an action. The consequences received should be of great value that would not contribute to pain but joy. These would prepare the users to face the outcome with an open mind as they had been expecting it. They could be outcomes based on researches or people personal experiences. In addition, it aids in future planning of activities leading to enhancement of efficiency. This system is straightforward and direct in evaluation because it conveniently uses one denominator in its evaluation calculations. Therefore, it becomes easy in resolving conflict interests for straightforward answers to the decision. An easy way to resolve things is many people choice as many of them understand it, support it and ready to conceptualize into their daily activities. This ensures less money and minimal time spent in evaluations process. Nietzsche on ethical concept, background and theories He explained that the existence of structure theories is as a result of leaders who dominate their decisions over others. He argues that it is through self consciousness that one can determine the evil and the good with its both doers. He did not support the utilitarianism principle of ethics and argued that it placed too much emphasis on the large numbers of people instead of an individual that his personal welfare is lost to the general crowd. In addition, his other reason was that humans do things just to survive in this world even if they were unpleasant or unhappy. Utilitarianism show there is a wrong and a right but according to him this are the terms men use to interpret a situation or experience. He believes human will be motivated by to many thing snot only pleasure, happiness and pain. Aristotle ethical concepts, background and theories He showed that conduct depended on the role of an individual habit. He said that it was in between pleasures and pain that allowed one to choose which indeed was right or wrong. Being a business minded person, he advices that the root to fairness, justice and happiness is in asking questions. He does not uses utility in his work but stresses that the behavior of a person is what is reflected on his performance and goodness, thus supporting the theory of virtue of ethics and not consequences (History of Utilitarianism, 2009). He campaigned that happiness of a person could only be known after his life and thus could not be short termed using utilitarianism. Conclusions Utilitarianism should take into account that not only making people happy is a pleasure but also involving one in the success of the project, institution, a career and a cause to ensure that they are committed. Many people though support it because it is easy to use, they have practice of using it daily and it tends to avoid the divine revelation of living morally but outside the belief in a supernatural being. A person deciding should include other principles and theories of ethics that are likely to affect an action and determine if they are right or wrong. They could use principle of; virtue, moral right, egoism, deontological, justice and fairness and their emotions reflected in their feelings. This would give a wide reflection balance of the choice picked. In all the actions an individual undertakes from a selection, he should first weigh their goodness and badness and not necessarily through its money value alone. One should be able to know how the action would affect him, the law and the society. An evil action such as killing a corrupt leader for money should not be justified that it made everyone evil that had fallen into his corrupt evils.

Spitting :: essays research papers

This review pertains to the planned change of a 1909 law in Palmyra, New York, which bills itself, â€Å"one of the friendliest spots on Earth† that forbids public spitting. The change in city code would increase the possible fine for those convicted of this offense from $2 to $50 currently, to $250 and adding jail time of up to 15 days to the sentence. Arguments in favor of the changes to the ordinance: 1.  Ã‚  Ã‚  Ã‚  Ã‚  The city of Palmyra has a right to protect its citizens from what it believes to be harmful to society as a whole and to promote the betterment of the community. Mayor Vicky Daly believes that in changing this ordinance, â€Å"we’re trying to have Palmyra be a pleasant place, and we don’t want people to spit.† 2.  Ã‚  Ã‚  Ã‚  Ã‚  The reason behind the increase of the sentence for those convicted of this crime was a recent review of many ordinances on the books. The city council in increasing the to the fine and adding jail time was merely an attempt to bring a law written in 1909 up to the standards of 2003. In June they reviewed hundreds of codes, and decided on the increase to this ordinance quickly, moving on to other issues. The intent is to make this law up-to-speed with current times. 3.  Ã‚  Ã‚  Ã‚  Ã‚  While probably intended to prevent tuberculosis in unsanitary Victorian times, this law could help to stop the spread of contagious diseases. While tuberculosis is no longer a threat, the possibility of SARS is out there. Palmyra is only trying to prevent was it sees as a potential health issue. Arguments against the new change to the ordinance: 1.  Ã‚  Ã‚  Ã‚  Ã‚  While other cities across the country are trying to enact laws that restrict smoking, noise and cellular phone use, Palmyra is changing one that prevents spitting. While legal reforms are working to get extinct laws of the books, here an outdated one is being given new life. Citizens think this law is making a mockery of their town. If regal reforms are to succeed, laws like this must not remain on the books. 2.  Ã‚  Ã‚  Ã‚  Ã‚  In the past 6 years, a police officer Robert Grier has not once charged anyone with the breaking the present ordinance. He says, â€Å"It’s going to be an impossible law to enforce. I’m sure there are many unenforceable laws.† Why have a law on the books that cannot be enforced? 3.  Ã‚  Ã‚  Ã‚  Ã‚  Until there is proof that spitting is the cause of SARS, there is no real danger in restricting public spitting. Spitting :: essays research papers This review pertains to the planned change of a 1909 law in Palmyra, New York, which bills itself, â€Å"one of the friendliest spots on Earth† that forbids public spitting. The change in city code would increase the possible fine for those convicted of this offense from $2 to $50 currently, to $250 and adding jail time of up to 15 days to the sentence. Arguments in favor of the changes to the ordinance: 1.  Ã‚  Ã‚  Ã‚  Ã‚  The city of Palmyra has a right to protect its citizens from what it believes to be harmful to society as a whole and to promote the betterment of the community. Mayor Vicky Daly believes that in changing this ordinance, â€Å"we’re trying to have Palmyra be a pleasant place, and we don’t want people to spit.† 2.  Ã‚  Ã‚  Ã‚  Ã‚  The reason behind the increase of the sentence for those convicted of this crime was a recent review of many ordinances on the books. The city council in increasing the to the fine and adding jail time was merely an attempt to bring a law written in 1909 up to the standards of 2003. In June they reviewed hundreds of codes, and decided on the increase to this ordinance quickly, moving on to other issues. The intent is to make this law up-to-speed with current times. 3.  Ã‚  Ã‚  Ã‚  Ã‚  While probably intended to prevent tuberculosis in unsanitary Victorian times, this law could help to stop the spread of contagious diseases. While tuberculosis is no longer a threat, the possibility of SARS is out there. Palmyra is only trying to prevent was it sees as a potential health issue. Arguments against the new change to the ordinance: 1.  Ã‚  Ã‚  Ã‚  Ã‚  While other cities across the country are trying to enact laws that restrict smoking, noise and cellular phone use, Palmyra is changing one that prevents spitting. While legal reforms are working to get extinct laws of the books, here an outdated one is being given new life. Citizens think this law is making a mockery of their town. If regal reforms are to succeed, laws like this must not remain on the books. 2.  Ã‚  Ã‚  Ã‚  Ã‚  In the past 6 years, a police officer Robert Grier has not once charged anyone with the breaking the present ordinance. He says, â€Å"It’s going to be an impossible law to enforce. I’m sure there are many unenforceable laws.† Why have a law on the books that cannot be enforced? 3.  Ã‚  Ã‚  Ã‚  Ã‚  Until there is proof that spitting is the cause of SARS, there is no real danger in restricting public spitting.

Extract One: Explore how the author presents Hyde in this extract Essay

Hyde is presented as an ugly, deformed creature in the first extract, who seems to be naturally evil and causes others to feel so much hatred towards him. His actions instantly show his evil character when he â€Å"trampled calmly over the child’s body†. The verb, trampled shows his aggressions and his intent to harm the child. It was clearly deliberate. However, it also uses an adverb â€Å"calmly† which is an oxymoron because it contradicts the violent motion of trampling. This oxymoron shows how he is hurting the child with no care, sympathy or regret. His calm composure with no signs of regret continues as Mr Hyde remained â€Å"perfectly cool and made no resistance†. Using â€Å"perfectly† before cool emphasizes that he showed no care or remorse at all, although he has clearly hurt the girl, who was â€Å"screaming†. It portrays Hyde as very heartless and evil, particularly as he had trampled on an innocent girl, who would have not created any motive for Hyde to hurt her. The fact that she was a girl makes her seem more vulnerable too, presenting Hyde as more merciless. Furthermore, his lack of speech further reveals his nonchalance and disregard to the girl’s pain. He does not speak at all throughout the whole of the extract, even when Enfield â€Å"collared him†, so is not trying to defend himself or apologize for his terrible actions; he shows very little care in what has happened. Hyde’s hideous and ugly appearance is also portrayed in the first extract. Hyde’s look was described as â€Å"so ugly that it brought out the sweat on me like running†. When saying that it was â€Å"so ugly†, it emphasizes how obnoxious Hyde’s appearance was. In addition, sweating is usually an instinctively response to something which you cannot control. The fact that by looking at Hyde, Enfield had an instinctive response to be frightened and sweat, shows how there is something different about Hyde that makes the people loathe him. Enfield also described Hyde as â€Å"some damned Juggernaut†, presenting him as a senseless man who is doing crazy things, with no regard to other people. The adjective, â€Å"damned† emphasizes the hatred Enfield felt towards him and the fact that it has a religious connection implies that the disgust was so great. Finally, the reaction of the doctor towards Hyde after he tramples on the girl shows that the hatred was instinctive. Enfield described the doctor â€Å"as emotional as a bagpipe† and so clearly the doctor must not be affected too much by the screaming girl, especially as the girl was not seriously injured at all. However, he turned â€Å"sick and white† every time he looked at Hyde. It must therefore be an instinct to loathe Hyde as a usually emotionless man is feeling so much hatred towards him, although he has not done too much to hurt the doctor. In addition, the doctor also had â€Å"the desire to kill him†. This is heavily ironic as he is a doctor, who is meant to save and cure people, but has been affected so much that he wants to kill Hyde. The word â€Å"desire† emphasizes how much he wanted to kill Hyde and it felt as if it was the doctor’s goal. This shows that the detestation is clearly an instinct as it would never be a characteristic of a doctor to want to kill someone so much. However, it was not only the doctor who was affected and in fact Enfield accepts he also wanted to kill Hyde. Hyde had been so hateful that a group of respectable people had been changed so much into becoming animalistic with desire to kill someone. It clearly indicates that the hatred Hyde has towards him is so different from others and is almost like a human instinct

Bus Reservation System Essay

Traveling is a large growing business in Pakistan and other countries. Bus reservation system deals with maintenance of records of details of each passenger who had reserved a seat for a journey. It also includes maintenance of information like schedule and details of each bus. We observed the working of the Bus reservation system and after going through it, we get to know that there are many operations, which they have to do manually. It takes a lot of time and causes many errors. Due to this, sometimes a lot of problems occur and they were facing many disputes with customers. To solve the above problem, and further maintaining records of items, seat availability for customers, price of per seat, bill generation and other things, we are offering this proposal of reservation system. By using this software, we can reserve tickets from any part of the world, via internet. This project provides and checks all sorts of constraints so that user does give only useful data and thus validati on is done in an effective way. 2. INTRODUCTION Our project is to computerize traveling company to manage data, so that all the transactions become fast and there should not be any error in transaction like calculation mistake, bill generation and other things. It replaces all the paper work. It keeps records of all bills also, giving to ensure 100% successful implementation of the computerized Bus reservation system. Our reservation system has three modules. First module helps the customer to enquire the availability of seats in a particular bus at particular date. Second module helps him to reserve a ticket. Using third module he can cancel a reserved ticket. 3. SYSTEM STUDY System study aims at establishing requests for the system to be acquired, development and installed. It involves studying and analyzing the ways of an organization currently processing the data to produce information. Analyzing the problem thoroughly forms the vital part of the system study. In system analysis, prevailing situation of problem is carefully examined by breaking them into sub problems. Problematic areas are identified and information is collected. Data gathering is essential to any analysis of requests. It is necessary that this analysis familiarizes the designer with objectives, activities and the function of the organization in which the system is to be implemented. 3.1. Study of existing system * Existing system is totally on book and thus a great amount of manual work has to be done. The amount of manual work increases exponentially with increase in bus services. * Needs a lot of working staff and extra attention on all the records. * In existing system, there are various problems like keeping records of items, seats available, prices of per/seat and fixing bill generation on each bill. * Finding out details regarding any information is very difficult, as the user has to go through all the books manually. * Major problem was the lack of security.