Мир перевода 2

Each language has characteristics which govern the way people think and behave. It is widely believed that it is the people who create the language but the opposite is true. Now, you may ask: if French is so good at sensuality, why is itidentified with clarity, precision and analytical brilliance? The answer is that the French have to struggle against the grain of their language to obtain these skills. They labour to make absolutely precise in 40 words what English makes clear in four. (Unless, of course, they are treating animal skins.)

The same phenomenon can be seen in Japanese, whose structure is so at odds with its script that its speakers have to develop fantastic brains to make any sense of it.

The besetting English sin is sloppiness. The language is so good at conveying meanings and ideas with a minimum of effort that nobody tries very hard. New ideas and words are drawn to it like whores to a victorious army. From French, with its emphasis on eloquence and elegance, one often makes a desperate effort to retrieve any sense at all. It is hard to detect the difference between brilliant observation and the charlatan (зд. banality).

Only when translated into English it is possible to estimate the true value of their works.

The Germans have a different problem. Their language imposes lunatic rules of syntax and grammar. This strait-jackethas to contain a language whose greatest gift is an astonishing capacity for metaphysical and abstract expression. It is no accident that there is a certain kind of German which produces words and phrases that remind one of madmen in uniform.

What the French and the Germans have in common is a certain distaste for English. The poet and novelist, Tucholsky, wrote 60 years ago: "English is a simple but difficult language. It consists of loud foreign words which are badly pronounced." One uses it without loving it. Not so with French. The journalist, Gunter Simon writes, "When two non-Frenchmen speak French between themselves they are immediately mutually sympalisch. Whole peoples love French even if they hardly like the French."

There was a radio programme a few nights ago about English people living in France and how they spoke French. They confirmed that they reserved French for endearments and English for irony and sarcasm.

The Emperor Charles V famously said: "1 speak Spanish to God, Latin to my confessor, Italian to my mistress, French to my men and German to my horse." If he had known English he would have spoken it to his research assistant and his PR girl.

(And what about Russian? Maybe to the racketeer? – author.)

James Morgan ("Financial Times")

Комментарии tabloid – бульварная газета

stale = not fresh; regressive = зд. reactionary;

Gallic tongue = the French language;

"douaniers" = custom officers (French);

chamois leather – замша, лайка;

against the grain – зд, «против шерсти»;

to be at odds with - to contradict; script = spelling;

besetting – преобладающий, главный; sloppiness – небрежность;

to retrieve = зд, to get;

lunatic = mad, crazy, senseless; strait-jacket – смирительная рубашка; metaphysical = зд. philosophical; endearments = words of love;

PR – Public Relations (связи с общественностью).

Тема: Economics

Big Fall in EU Economic Growth

The European Commission yesterday reported a sharp downturn in economic growth in the European Union, butinsisted that a significant number of its 25 members could still hope for a better future.

The Commission has slashed its growth projections for the this year by more than I percentage point to 1.5 percent. Itprojects future growth of 2.4 per cent, or half a percentage point down on its previous estimate, due to general world slump.

But Mr Yves-Thibault de Silguy, the monetary affairs commissioner, insisted that this gloomy outlook did not dentprospects for establishing a single currency. "We consider it realistic, even certain he said.

Although the growth projections are viewed as realistic by financial analysts, the budget deficit projections were yesterday regarded with scepticism by both economists and some diplomats.

After presenting the economic forecast, Mr de Silguy described the documents as a "two-toned report – grey for growth for now, but rosy – for economic convergence in future."

Mr de Silguy said Germany, France, the Netherlands and Finland were expected to join Denmark, Ireland and Luxembourg in successfully cutting their budget deficits below 3 percent of GDP.

Austria and Sweden were expected to come very close, while Belgium, Spain, Portugal and the UK could be within 3/4 of a percentage point of the benchmark.

The German chancellor, who visited the Commission shortly before the report was issued, said he opposed anyrelaxation of criteria – covering debt, deficits, inflation, and exchange rate stability.

"I'm strongly against changing the convergence criteria," he said. "Without these strict yardsticks, the efforts at economic consolidation will not be successful." However, the chancellor stopped well short of

endorsing the Commission's optimistic forecast that a significant number of countries would reach or nearly reach the requirement of a public deficit below 3 per cent of GDP.

"When we take the decision, it should be done at the right time and within the rules of the treaty," he said, referring to the 1998 decision on who should join EU. The Commission's economic policy guidelines, while calling for a social dialogue with the trade unions, also warned that EU could be threatened if its members gave in to social pressures.

"If progress towards sounder public finances and structural reform were to be hampered by rising social and political resistance, this ... might add to doubts among some observers as to whether a sufficient number of member states would be ready bor this at the starting date," he said.

"Financial Times"

Комментарии to qualify for = to meet requirements; to slash = to cut reduce;

dent = зд. affect, diminish (a dent in the market = a niche);

projection = forecast, estimate;

benchmark = level;

relaxation = softening;

convergence = зд. membership;

yardstick = criterion (pl criteria);

stopped well short of endorsing = did not approve of; to fall short

of – не дотягивать до, не соответствовать;

public deficit = budget deficit (ср. public sector = state sector);

to gave in to – уступить;

sounder = healthier.

Британия и Канада станут лидерами экономического роста

Промышленные страны стоят на пороге (are on the verge(eve) of) периода быстрого экономического сотрудничества и развития, сообщили эксперты Организации экономического сотрудничества и развития(ОЭСР)1, отметив, что риск скачка инфляции в этой ситуации очень мал. Главной проблемой передовых государств в ближайшие годы останется безработица, причем это наиболее актуально для континентальной Европы.

В отношении экономического роста четырех из семи ведущих промышленных держав ОЭСРпересмотрела и снизила свои более ранние прогнозы. В последнем полугодовом обзоре ОЭСР прогноз по среднему экономическому росту развитых стран составляет 2,4%, что несколько ниже предложенной ранее цифры в 2,5%.

Наименьшие темпы экономического роста будут зафиксированы в Италии и Японии. По мнению экспертов ОЭСР, будущий год станет самым перспективным для Великобритании за последние 30 лет, что объясняется (due to) высоким потребительским спросом и стабилизацией рынка инвестиций.

В обзоре отмечается, что по сравнению с предыдущим периодом экономический рост передовых государств сегодня носит более сбалансированный характер. Страны континентальной Европы и Япония также постепенно «приходят в себя» после двухлетнего экономического застоя.

Прогнозы ОЭСР в отношении роста производства и повышения жизненного уровня звучат менее оптимистично. По мнению специалистов, сегодняшние показатели в этих областях уступают достижениям послевоенного периода. Для нормализации ситуации специалисты рекомендуют наладить более гибкие рынки труда.

По данным ОЭСР, в случае выполнения запланированных сокращений бюджета большинство государств Европы (включая Германию, Францию и Италию) приблизится к выполнению условий (to come closer tomeeting the requirements) по государственным займам.

ОЭСР уточнила свой более ранний прогноз по экономическому росту Германии на следующий год, снизив его с 2,45 до 2,2%, и практически вдвое уменьшила прогноз по Италии (1,1%). В отношении США, напротив, ОЭСР подняла планку экономического роста до 2,2%.

В следующем году в Японии ожидается замедление темпов экономического развития. Однако в начале нового века ситуация начнет стабилизироваться на фоне ожидаемого роста процентных ставок.

Г.Баули(«ФТ»)

Комментарии (см. также стр. 98)

скачок инфляции – galloping (skyrocketing) inflation;

потребительский спрос – consumer demand;

«приходят в себя» – recovering;

сокращение бюджета – budget cuts;

уточнила – altered, corrected;

подняла планку – raised the plank (level);

процентные ставки – interest rates.

Тема: Занятость (Employment)

Study Calls Unemployment in Europe 'Grim'

A new study by the International Labour Organization (ILO)1 said that global unemployment stands at "grim" levels in Europe, but found strong evidence that employee tenure (стаж) hasn't slipped much – and is even growing in some countries.

The United Nations estimates that about 30% of the global work force, or roughly one billion people, is

steady. In some countries, such as the Netherlands, Canada and France, longterm tenure rose.

Nature of Expansion

"Despite layoffs and downsizing by corporations and government, a substantial group of workers hold stable jobs," said the chief author of the report. "What seems like higher instability may actually reflect the greater number of jobs that younger workers must hold before finding a permanent one."

The question of job tenure may seem arcane but it lies at the center of the controversy over the nature of the current economic expansion. Even in the U.S., where the number of jobs is dwindling, they say this explains the widespread perception of economic insecurity

But data suggest this perception is flawed. Economists in the U.S. generally have found no significant declines in job-tenure rates. "You can't say we've gone from an economy of lifetime jobs to one with day-to- day jobs," said David Neumark, an economist at University of Michigan.

A widely cited study last year by Princeton University found that 20% of all U.S. workers between the ages of 45 and 54 say they have worked more than 20 years for the same employer. The percentage was the same in 1973.

In Europe, the picture is similar, according to the ILO study, which appears to be the first to compare jobtenure rates across countries. In Australia, based on current data, one-quarter of working men have been with the same employer for at least ten years. In Canada, the figure is 27%. In France, the figure is 38.7%. In Germany (excluding what was formerly East Germany), the figure is 40.7%, in Spain – 36%.

Gains in Real Wages

One reason for job stability in Europe could be that many large employers, under pressure from global competition, arc only now shifting production to low-wage countries and scaling back middle-management positions, steps that seem likely to result in some layoffs. But over-all, the ILO found that "tenure does seem to be at least stable, or even increasing, over time."

For those without a job, however, the European data aren't reassuring. The ILO found that nations that are members of the European Union saw unemployment rise last year to an average of 11.3%. In Eastern and Central Europe, meanwhile, unemployment rates fell slightly but remained at 11.6% or more in Bulgaria, Hungary, Slovenia and Slovakia. In Russia and some other former Soviet republics, unemployment rose.

On the plus side, the ILO found solid gains in real wages last year among many countries of the former Eastern bloc, with the Czech Republic posting a rise of 7.8%; Romania, 21.8%, and Lithuania, 10%. But Bulgaria and Hungary saw real wage declines of 19% and 10%, respectively.

Figures on joblessness in most developing countries weren't up-to-date, the ILO said.

G.Zachary ("Wall Street Journal Europe ")

Комментарии employee tenure – непрерывный стаж;

layoffs and downsizing – увольнения и сокращения:

arcane = understood by only few;

dwindling = falling, diminishing;

perception = approach;

flawed = incorrect;

to scale back - to cut, reduce gradually;

posting – registering;

real wage; cp. take-home pay («чистыми»).

Тема: Банки

Banks Seek Licences in London

It was practically inevitable: the well-heeled young turks of Russia's banking world, on the quest for (in search of) the elusive prize of a prestigious British licence, are setting up shop in London.

Six of Russia's leading financial institutions now have London representative offices, which although prohibited from conducting commercial operations offer a high-profile avenue for (possibility) courting government regulators1 and potential clients.

"London is the oldest and best-known financial center in the world," said representative of Alfa-Bank, which opened premises in the City Tower in the heart of London's banking district earlier this year. "If you have Bank of England recognition, you are recognized by everyone."

The Russian banks, however, face a difficult task in winning a foreign operating licence. They have to show that they have not come to launder money, and they have to reconcile their Russian accounting practices with (зд. привести всоответствие) the Western accounting system.

"The principal concern of the Bank of England must be criminality," said a source at a U.S. bank with interests in London and Moscow, who asked not to be named. "Ownership of Russia's banks is very opaque. You cannot tell if the shareholders include mafia elements."

Alla Haines, a specialist on Russian banks with the respected IBCA rating agency, said: "There are a lot of suspicions regarding Russian banks. People don't know much about them here. The main problem is one of attitude (position)."

The Bank of England itself refuses to comment on specific problems with granting licences to Russian banks, but therequirements it spells out are strict.

The chief technical obstacle is the Risk-Asset Ratio, or RAR, of Russian banks, which measures an institution's capital base against its risk-weighted outstanding loans. A bank cannot obtain or retain a licence if this ratio falls below a certain level, set at a minimum of 8 per cent in the international Basle

Accord on banking norms.

Many Russian banks currently meet the 8 per cent threshold, according to the IBCA. But the Bank of England fears sudden upsets. "The situation would need constant monitoring, since high Russian inflation tends to make a bank's lendinggrow faster than its retained earnings," said another IBCA specialist.

Another obstacle is the state of the bank's internal accounts. "We have only two years of Western auditing, and a minimum three years is required before the Bank of England will consider granting a licence," an Alfa-Bank official said. "The Bank of England has told us to establish a relationship with it before submitting any application."

Fear that Russian economic instability could spread to the West through licenced Russian banks is another factor. Haines said the recent interbank market crisis in Russia when liquidity dried up and loans between banks grounded to a near halt,"slowed down the licencing process."

Western bank supervision agencies will feel more comfortable about licencing once the Russian authorities have set up supervisory norms corresponding to those in the West.

The Russians seem to be sparing little expense in making their presence felt. Although use of the offices is limited to information gathering and meetings, they also have a showcase value: Alfa's City Tower premises are down the corridor from the Bank of England itself. Promstroibank is in Mayfair.

Many of banks establishing themselves in London already have set up in Germany, currently home to a dozen representative offices. But the banking authorities there, too, have made it clear that they are not yet ready to consider licence applications from the arrivals.

Комментарии representative office – представительство;

young turks – «младотурки» – радикальное движение в Турции начала XX века; пер. – молодые энергичные деятели, стремящиеся порвать с прошлым;

to set up (shop) – зд. обосновать;

courting = wooing, зд. налаживать контакты;

opaque = vague;

capital base – основной капитал;

outstanding loans – невозвращенные кредиты;

Basle Accord on banking norms – Базельское соглашение о банковских нормативах;

threshold = level criterion;

upsets = problems, snags;

internal accounts – внутренняя отчетность; liquidity - наличность;

grounded to a near halt = practically stopped, discontinued; showcase value – зд. prestige (cp. offer high – profile avenue); to spare little expense = to stop at nothing.

Тема: Налоги (см. Taxation Terms Mini Chart, стр.113).

Подоходный налог становится одним из самых рентабельных

Законом о подоходном налоге предусмотрено, что граждане, занимающиеся предпринимательской либо другой деятельностью, не связанной трудовыми отношениями, подлежат обложению налогом на основании подаваемых ими в налоговые органы деклараций. Также декларацию подают те, кто имел в течение календарного года доходы от двух и более источников в размерах, превышающих суммы дохода, облагаемого по минимальной ставке налога. На сегодняшний день 60% населения имеют источники разного характера, налоговыми органами проверке подвергаются лишь 20–25%.

Увеличить поступления от подоходного налога могут последние изменения в налоговом законодательстве. Уже затронуты четыре льготы из существовавших до недавнего времени шестидесяти.

Подоходный налог с физических лиц является федеральным налогом, поступающим в местный бюджет. Он обязателен к уплате. Рентабельность налога – каждый затраченный рубль на сбор приносит 9 рублей дохода. (См. также раздел «Интервью».)

Комментарии подоходный налог – income tax;

налоговые органы – taxation agencies. Federal Tax Service in

RF; Internal Revenue Service (IRS) in US;

льготы – зд. types of tax exemptions;

физическое лицо – physical person (ant. legal entity);

рентабельность налога – зд. tax spin-off, profitability;

сбор (налогов) – tax collection.

Тема: Construction and Real Estate

Industry Emerges from Stagnation

The Russian construction market has endured its share of ups and downs. Huge profit margins at the start of the decade were swiftly followed by a dramatic1 slump between 1994 – 96 before a belated recovery began to take hold (effect), followed by yet another and even bigger crash in 1998.

Attractive Real Estate Market

In the early 1990s the attractions of the Russian market for foreign construction companies were obvious. The competition was relatively negligible and the rewards for entertaining the risks inherent in working in the Russian capital were huge.

"Profit margins at the start of the decade were three times what they are now," said Pietro Giello of Codest, which has been operating throughout Russia since 1984 and has been involved in some of the capital's most prestigious projects including the Ducat buildings.

"Margins were huge and it's only recently that they have come down towards a more realistic level," agreed Konstantin Gusakov of the Stolny Grad, formed originally to manage the development of flagship project, like the Penta Hotel in the mid 1980s.

Standards of construction (quality) also sometimes left a lot to be desired. "The competition was so scarce (small) that international companies were sometimes paying pre-lease (advance) payments for 4-5 years for accommodation that was not of the best quality simply because they had no other option," said Gusakov.

"Originally, you could build anything and put it on the market at that time," confirmed Calvac O'Carrol of Murray O'Laire, one of Moscow's longest serving architectural firms having first entered the market in 1991.

Domino Crisis

There was, however, soon to be a flip side to the coin of potential riches in Russia. A dramatic slump in confidence in the banking sector in 1994 and then in 1998 severely curtailed development finance as banks, previously tripping over themselves in their anxiety to explore the lucrative real estate sector, reigned in the money, causing many projects to stall(slow down).

Not surprisingly, one of the hardest hit by this was the construction industry as silence descended on construction sites throughout Moscow. The fallout was considerable. One victim that was still awaiting completion is the massive Zenith development at Yugozapadnaya, another the Meyerhold project at Novoslobodskaya. Even Smotensky Passage, which promised to be one of Moscow's most exciting developments in 1998, stood still for a number of years as finance dried up.

"A lot of banks were very badly burned during this period and payments, particularly to Russian firms, were often 6-12 months late if they arrived at all," said Gusakov.

"Other firms employed by the Moscow City Government sometimes had to settle for (agree) payment in non-monetary terms such as apartment blocks as the authorities simply didn't have the necessary funds to pay in dollars."

A lot of contractors were forced out of business and, in a market that is as interdependent as real estate, the knock-oneffects threatened to be dramatic.

"Pulling out of the market did become an option for us although we had made such an investment already in Moscow that we never seriously entertained it," said O'Carrol. "We actually never stopped working during this period although it wastouch and go at some points but we were sure Moscow would come right eventually," added his colleague, Pascal Mahoney.

Recent Boom

Come right, it seems to have done with a vengeance in the last 12 months. The malaise that had affected the industry since 1998 and which was exacerbated by the political uncertainties surrounding the destination of the Presidency began to lift almost as soon as Putin's victory was assured. "The change in market has been dramatic in the last six months or so," said Mahoney while Gusakov commented, "Moscow is now in the midst of a serious construction boom."

That the market has recovered is perhaps most evidenced by the renewal of foreign interest in Moscow and re-entry of banks as investors, most notably witnessed by Moscow Sberbank's USD 50m loan to Smolensky Passage.

Lesson to Be Learned

Perhaps more interesting, however, is to take a look at exactly what type of market has emerged from the peaks and troughs (ups and downs) of the last six years. One thing that most experts appear to be agreed upon is that the construction industry is now considerably more professional. Undoubtedly, this has been in part engendered by a strengthening in competition. "Probably the most notable feature of the last 12-18 months is that Russian companies have successfully learned many of the practices that gave western companies a competitive edge a few years ago. Although this edge is still in evidence at the very top end of the market, the professionalization of local companies is and will be of increasing importance over the next few years," said Giello.

Комментарии profit margins = net profits; to slump = to fall drop; negligible = non-existent;

flagship = prominent, major (флагман); to entertain = to consider;

flip side = the other side;

curtail development finance = cut financing of projects;

to trip over oneself = to try very hard (go out of one's way); to reign in = to keep to oneself (попридержать);

fall-out = consequences (cp. knock-on effects); to dry up = to discontinue, stop;

contractors – подрядчики; to pull out = to leave; touch and go = very risky;

with a vengeance = triumphantly; ср. «взять реванш»; malaise = disease;