Russia to Create Its Own Credit Card System

【Unlocking Word Meanings】

　今日の単語・フレーズ

Read the following words/expressions found in today’s article. 

1. sanction [SANGK-shuh n]  (v.) – to penalize someone for breaking a law or an agreement

Example: Fishermen caught fishing outside the Philippine territory will be sanctioned.

2. back up [bak uhp] (v.) – to show support to someone

Example: The citizens backed up the government’s new plan.

3. halt [hawlt] (v.) – to make a stop either temporarily or permanently

Example: The company’s operation was halted because of financial violations.

4. annexation [an-ik-SEY-shuh n, -ek-] (n.) – the act of acquiring another territory as an annex

Example: Russia’s annexation of Crimea sparked criticism among many people.

5. autonomous [aw-TON-uh-muh s] (adj.) – independent and having the ability and power to rule on its own

Example: Hong Kong wanted to be autonomous from China.

【Article】

　ニュース記事

Read the text below.

President Vladimir Putin [VLAD-uh-meer pooh-tin] announced that Russia will set up its own credit card system after being sanctioned by the US and the European Union (EU). In a meeting, Putin backed up the proposal to create a local credit card system in Russia after Master Card and Visa put restrictions on some of the banks in the country. Both payment systems halted their services because of the issue over Russia’s annexation of Crimea. This suspension happened after Putin signed a legislation to take Crimea from Ukraine and make it a part of Russia. Some Western countries reacted to this negatively as they consider this act a violation of Ukraine’s constitution. According to some Western states, they do not recognize Crimea as part of Russia. Despite this, the president remained firm and vowed to make a domestic-based credit card system. In fact, Putin said that the sanctions would put the US in an unfavorable circumstance as this will make them lose a very profitable market. More than 85 percent of Russians are Master Card and Visa card holders. On the other hand, the US and the EU said they will not hold off giving further sanctions should Russia aggravates the situation. Crimea is internationally recognized as an autonomous republic of Ukraine. Because of conflict of interests, Crimeans voted to become separated from their mother country. A March 16 referendum states Crimea’s withdrawal from Ukraine and its decision to join Russia. Putin further said that he will do everything he can as quickly as possible so that Crimeans will feel like full-fledged citizens of the Russian federation.

【Viewpoint Discussion】

　ディスカッションテーマ

Enjoy a discussion with your tutor.  

Discussion A

         Do you think the sanctions given by the US and the EU are fair enough? Why or Why not?

         Do you think it is necessary for the US and the EU to be involved in Russia’s conflict with Ukraine?

Discussion B

         Why do you think territorial disputes are common today?

         What would happen if conflicts among different countries are not resolved immediately?

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Britain Will Release New One-pound Coin in 2017

【Unlocking Word Meanings】

　今日の単語・フレーズ

Read the following words/expressions found in today’s article. 

1. ditch [dich] (v.) – to stop using something

Example: The country will soon ditch paper money.

2. circulate [SUR-kyuh-leyt] (v.) – to move or spread from one person to another

Example: The old money will stop circulating next year.

3. forged [fawrjt] (adj.) – fake and illegally produced

Example: The government warns the public about forged dollar bills.

4. self-checkout [self CHEK-out] (adj.) – referring to machines (often in grocery/retail stores) that allow a person to purchase items even without a cashier

Example: Some customers prefer paying to cashier instead of using self-checkout machines.

5. revamp [ree-VAMP] (v.) – to apply changes to make something look better or new

Example: The government plans to revamp the old museum.

【Article】

　ニュース記事

Read the text below.

The United Kingdom will ditch its one-pound (£1) coin that has circulated for over 30 years in the hopes of solving the problem on the production of fake coins in the country. The spread of fake one-pound coins has significantly affected the British economy over the past years. Out of the estimated 1.5 billion one-pound coins in circulation, about three percent or 45 million are forged. The original one-pound coin has a round shape and a copper color. On the other hand, the new coin will be 12-sided and will have a mix of gold and silver colors. The shape of the new pound coin is similar to the old threepenny [THRIP-uh-nee or THREE-pen-ee] coins that circulated until 1971. The right side of Queen Elizabeth II’s face will also appear on one side of the new coin, while the design of the other side will be determined through a public contest. In addition, the one-pound coin’s new look will include an advanced anti-forgery technology that is also used in British paper money. According to the country’s treasurer, the new coin will be the most secure coin in the world. With the arrival of the new coin, several establishments will need to revamp its coin machines. Among these are supermarket self-checkout machines, parking meters, vending machines, and gym lockers. Applying changes to these machines will cost the UK about $30 million. Aside from the coin, a new 10-pound bill will also be released in 2017. The new money will use plastic to make the money more durable and harder to forge.

【Viewpoint Discussion】

　ディスカッションテーマ

Enjoy a discussion with your tutor.  

Discussion A

         Do you think creating the new coin will be an effective way to prevent the production of fake coins? Why or why not?

         In your opinion, how else can the production of fake money affect a country?

Discussion B

         Please describe the denominations of your country’s money (i.e. in the Philippines – 5, 10 centavo coins, 1, 5, 10 peso coins, etc.).

         In what other ways can the circulation of fake money be prevented?

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‘Smog Insurance’: Now Available for Tourists Visiting China

【Unlocking Word Meanings】

　今日の単語・フレーズ

Read the following words/expressions found in today’s article. 

1. spoil [spoil] (v.) – to make something not enjoyable or fun

Example: Our car’s damaged engine spoiled our road trip.

2. avail of [uh-VEYL ov] (idiom) – to make use or benefit from something

Example: My family wants to avail of the discounted tickets.

3. compensate [KOM-puh n-seyt] (v.) – to pay someone in order to make up for undesirable things or damage caused

Example: The travel agency will compensate the man who was injured during the tour.

4. inconvenience [in-kuh n-VEEN-yuh ns] (n.) – a situation filled with trouble or difficulty

Example: The delayed flight caused inconvenience to the passengers.

5. entice [en-TAHYS] (v.) – to attract or get the interest of others

Example: The new airfare promo enticed many tourists to go to China.

【Article】

　ニュース記事

Read the text below.

China’s largest travel agency Ctrip.com [see-trip dot kom] has partnered with insurance company Ping An and started offering tourists “smog insurance” since March this year. Smog, a mixture of smoke and fog, has long been China’s problem affecting the country’s tourism. Too much smog spoils the travel experience of a lot of tourists due to flight delays and cancellations. Tourists who are already in an affected area are forced to stay indoors. The smog insurance can be availed in six cities including popular tourist destinations -  Beijing [BEY-JING], Shanghai [SHANG-hahy], and Xi’an [SHEE-AHN]. The compensation can be claimed only if one has stayed for at least two days in any of the listed cities and if the city’s air pollution level reaches a certain level. The level is different from one city to another. In Shanghai, for example, people will get compensation if the air pollution index goes beyond 100. Through the China Air Quality Index Pollution weather app, the travel agency and the users can get updates on the smog levels in the country’s major cities. This insurance, which is mostly targeted for domestic tourists, is sold at a little more than $1 with a claimable compensation of up to $8 per day for the inconvenience. However, some people are still not enticed with the insurance package – saying that a bad travel experience cannot be fixed by money. A sales representative in Shanghai also argued that the insurance will not directly solve air pollution.

【Viewpoint Discussion】

　ディスカッションテーマ

Enjoy a discussion with your tutor.  

Discussion A

         If given an opportunity to travel to China, would you avail of the ‘smog insurance’? Why or why not?

         Which do you think is more important – increasing tourist visits or resolving air pollution? Please explain your answer.

Discussion B

         Would you consider travelling to places known for pollution problems? Why or why not?

         What do you think are the factors that travelers should consider when choosing a destination?

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Economist Suggests Fishing Ban in High Seas

【Unlocking Word Meanings】

　今日の単語・フレーズ

Read the following words/expressions found in today’s article. 

1. summit [SUHM-it] (n.) – an important meeting of leaders or key officials, often from different nations

Example: Our president attended the summit to discuss peace negotiations.

2. delegate [DEL-i-git, -geyt] (n.) – a country’s or an organization’s representative for a formal meeting or gathering

Example: The UN delegates from all over the world gathered at the annual convention.

3. subsidize [SUHB-si-dahyz] (v.) – to help pay for something

Example: The government subsidizes health care for senior citizens.

4. fleet [fleet] (n.) – large group of ships

Example: The fishing fleet sailed early today.

5. settle [SET-l] (v.) – to have an agreement or decision that fixes a problem

Example: The officials settled the budget shortage last week.

【Article】

　ニュース記事

Read the text below.

Fishing in the open ocean may no longer be profitable and should therefore be banned, says an economist during the recent World Ocean Summit held in California. Martin Stuchtey [STUHK-tey] from management consulting firm McKinsey [muh-KIN-zee] & Company, spoke to various delegates from different countries about how much countries are losing from this fishing practice. According to Stuchtey, many nations subsidize their fleets to go farther into the open ocean because of the decreasing marine resources. Statistical data also show that the fishing industry is experiencing high losses that lead to lower income. With this situation, Stuchtey suggested that fishing in the high seas should be banned, as it is no longer a profitable investment. He added that doing so will cut down government spending and increase financial savings. Also, Stuchtey stressed that the ban could give time for the high seas to recover from the current loss of resources. Most attendees agreed with Stuchtey’s suggestion, saying that marine life needs careful attention. World Bank vice president Rachel Kyte [kayt] stated that leaders should also take natural resources into consideration when designing economic strategies. U.S. Secretary of State John Kerry and Prince Albert II of Monaco [MON-uh-koh, muh-NAH-koh] were among the speakers who also encourage other leaders to save the fisheries and other sea resources. More than just the economic value, the ocean sustains people’s lives. Issues like illegal fishing and chemical pollution will continue to threaten marine life if world leaders do not settle the situation.

【Viewpoint Discussion】

　ディスカッションテーマ

Enjoy a discussion with your tutor.  

Discussion A

         Do you agree with banning fishing in the high seas? Why or why not?

         What do you think are the disadvantages of this? Please explain your answer.

Discussion B

         What other natural resources do you think can boost a country’s economy?

         How can people take care of these natural resources?

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Newsweek Magazine Reveals Creator of Bitcoin

【Unlocking Word Meanings】

　今日の単語・フレーズ

Read the following words/expressions found in today’s article. 

1. brainchild /ˈbreɪnˌtʃaɪld/ (n.) – result or product of someone’s idea

Example: The new computer program is the brainchild of the company’s best developers.

2. rebut /rɪˈbʌt/ (v.) – to contradict or to prove that something is not true

Example: The CEO rebutted the newspaper’s false claims about his company.

3. stand firm /stænd fɜrm/ (v.) – to remain with one’s statement despite others’ arguments

Example: The newspaper stands firm with the story despite accusations.

4. manifesto /ˌmænəˈfɛstoʊ/ (n.) – a formal document showing the opinion of a person or a group

Example: The founder’s manifesto cited the group’s goals for the project.

5. discreet /dɪˈskrit/ (adj.) – done in a careful and private manner

Example: The boss talks to his employees in a discreet way.

【Article】

　ニュース記事

Read the text below.

American magazine Newsweek recently revealed the identity of the mysterious man behind Bitcoin’s creation. Bitcoin has long been thought as the brainchild of a certain Satoshi Nakamoto. The developer’s true identity was unknown until Newsweek published a feature story about a Japanese-American engineer with the same name. According to journalist Leah McGrath Goodman, Dorian Satoshi Nakamoto created the popular digital currency that began in 2009. Nakamoto, a 64-year-old Physics graduate, worked as a systems engineer for the U.S. government and some private companies. The Newsweek article quoted Dorian saying that he is no longer involved in Bitcoin and cannot discuss anything about it. However, Dorian rebuts the story’s claims after its publication. Despite this denial and the distrust of some Bitcoin users, Goodman and Newsweek stood firm with the article’s credibility. In 2008, a manifesto for Bitcoin was published under the name of Satoshi Nakamoto. The document emphasized that the Bitcoin system does not require financial institutions like banks to serve as a link between transactions. Bitcoin uses complex computer codes that enable two persons to transact directly with each other. Bitcoin chief scientist Gavin Andresen [GAV-in ahn-DREY-suh n] recalled that his conversations with Nakamoto were all about improving the codes. Andresen added that Nakamoto was a discreet man and that he never heard anything about the founder’s personal life. On another note, many analysts have praised how Bitcoin successfully performed without the central bank’s involvement. Bitcoin users can view their own record of transactions and maintain a protected identity. In the currency’s early years, a Bitcoin is worth only a few cents. As online users increased, Bitcoin’s value rose up to $1,100 last year but has fallen down to $650.

【Viewpoint Discussion】

　ディスカッションテーマ

Enjoy a discussion with your tutor.  

Discussion A

         What do you think about the use of Bitcoin?

         Do you think the use of Bitcoin is safe? Why or why not?

Discussion B

         In your country, what is the most common mode of payment?

         How do you think this will change in the future?

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