VIII. Find words and phrases in text II corresponding to the following definitions

1. any of various alloys based on iron containing carbon

2. lack of effectiveness or success

3. a metallic material, such as steel, brass, or bronze, consisting of a mixture of two or more metals or of metallic elements with nonmetallic elements.

4. to grind or wear down or away or become ground or worn down or away

5. a strip or margin; border

6. a vertical passageway into a mine

7. the condition of being used up; consumption

8. to protect against financial loss through future price fluctuations, as by investing in futures

9. a small piece of something larger; fragment

10. a device using three-way catalysts to reduce the obnoxious and poisonous components of the products of combustion (mainly oxides of nitrogen, carbon monoxide, and unburnt hydrocarbons) from the exhausts of motor vehicles

Listening

I. Listen to the text and write a short review on Kuala Lumpur trading in palm oil.

II. Listen to the recording and write down information about:

1. The 15 primarty products mentioned in the report.

2. The four different rates of tax mentioned.

3. The effects of different taxes on income for the exporting countries.

4. Reasons for the rise or fall in income.

Speaking

A) Read the following and answer the question "Why?" according to the plan.

Grain trade.

Filling granaries, not stomachs.

Thanks to good harvests, world grain prices have fallen. Yet some importing countries are still going short. Instead of shooting up — as happened during the past two decades, the amount of grain traded internationally this year will be no higher than last year, and 7% lower than in the record year of 1981. Why?

Plan

1. Stockpiles.

2. Policy changes under the food importers.

3. Exporters' subsidies.

4. Dollar.

b) Make a 2 -4 minute report on the following topics:

1. Financial instruments and ways of investment.

2. Commodity markets in Russia: modern tendency of developing.

Writing

1. Using information from the recording write a short report for your imaginary client dealing with tea export.

2. Don't forget to give a title to your report, briefly summarise the information and give your recommendations in the end.

Unit 5