EBE Reading Material Development

ASSIGNMENT
Submitted to fulfill the assignment of English for Business Lecturer : Drs. Prawoto S. Purnomo

Compiled by :

Aris Abdul Azis 0902543

DIK B

Department of English Education

Faculty of Language and Fine Arts Education

Indonesia University of Education

2011

Australian Beef Industry Hit by Indonesian Cuts

by Edhie Rianto

USTRALIAS beef industry recently said Indonesias plans to slash live cattle imports was unwelcome news, but denied it was payback for Canberras abrupt halt to exports earlier this year. Indonesia is the countrys biggest live export market but Australias top beef producers body said Jakarta plans to cut the number of cattle it takes from Australia from 520,000 to 283,000 from next year. According to Cattle Council of Australia president Andrew Ogilvie was qouted from AFP said were still recovering from the suspension of the trade so its pretty unwelcome that its been announced. The decision comes after Australia abruptly froze all exports to Indonesia in June over animal welfare issues, after the state broadcaster ABC showed images of animals being kicked and mistreated ahead of slaughter. Trade was reinstated after several weeks after Jakarta agreed to a strict new permit system requiring exporters and slaughterhouses to guarantee animal welfare standards. Ogilvie said that while the new quota was a serious reduction in numbers, he did not believe it was a direct reprisal. I dont think its a trade issue, its nothing to do with payback. Its the simple fact that they want to be selfsufficient by 2014, Ogilvie said.

We have been expecting reductions of the live import permits but this is a little bit more of a reduction than we expected. Indonesia had held open the option of increasing the quota if it was unable to meet demand, while Australia would look to developing markets such as China for the long term, Ogilvie added. But cattle producers, hard hit when the government blocked exports to Indonesia, said the new limit was worrying, with Northern Territory Cattlemens Associations Luke Bowen telling the ABC it would raise serious concerns. A spokeswoman for the Department of Agriculture, Fisheries and Forestry said while import quotas were a matter for Jakarta, Australia remained committed to the live export trade. Live exports, which also include sheep, were worth Aus$1.12 billion (US$1.12 billion) to the Australian economy in 2010-11 according to the most recent figures. Indonesia accounted for Aus$291 million, making it the biggest market.
Source: http://traveltextonline.com

A. Cross (X) the correct answer between A, B, C, D, and E based on information of the text above. 1. What is the text mainly about ? a. b. c. d. 2. The trade of beef Beef Industrion The issue of trade problem between Indonesia and Australia Export and import of beef

Jakarta plans to cut the number of cattle it takes from Australia from ........... from next year. a. b. c. d. 510,000 to 280,000 525,000 to 285,000 520,000 to 283,000 515,000 to 280,000 Indonesia is the second countrys biggest live export market Andrew Ogilvie is the president of Cattle Council of Australia the government blocked import to Indonesia Indonesia accounted for Aus$290 million, making it the biggest market

3.

Which of the following is TRUE according tothe text? a. b. c. d.

4.

The word I (in paragraph 4) refers to .......

a. b. c. d.

Edhie Rianto Luke Bowen Andrew Ogilvie Cattlemen

5.

What is A spokeswoman for the Department of Agriculture, Fisheries and Forestry stated? a. b. c. d. The new limit was worrying Live exports were worth Aus$1.12 billion Live exports Australia would look to developing markets such as China for the long term Import quotas were a matter for Jakarta

B.

Match these terms with their definitions.

okesman hat something will be done or will happen, especially a written promise by a company to repair or change a product th document that allows you to do something or go somewhere hose job is to speak on radio or television programmes n Suspension omething that is sudden and unexpected, and often unpleasant Broadcaster ted amount or number that is officially allowed: vent at which people Guarantee gather in order to buy and sell things nal saving of money or, less commonly, the saving of time, energy, words, etc: Reduction one stops something happening, operating, etc. for a period of time: Quota Spokeswoman Economy Market Permit Abrupt

C. Fill in the blanks with suitable words by giving their correct grammar. 1. 2. 3. 4. 5. 6. Indonesia has (cooperated) ............ with Australia in Beef Industrion. We have (be) .......... expecting reductions of the live import permits. Northern Territory Cattlemens Associations (be) .......... the organization from Australia. The television (show) ........... images of animals being kicked and mistreated ahead of slaughter. Indonesia (want) ........... more much beef. Luke Bowen (tell) ............ the ABC it would raise serious concerns.

D. Choose whether the statement is TRUE or FALSE.

1. 2. 3. 4. 5.

Indonesias plans to slash live cattle imports was welcome news The new quota was a serious reduction in numbers The new limit was unpredictable Cattle producers, hard hit when the government blocked imports to Indonesia Indonesia remained committed to the live export trade.

E. Answer the following questions based on the text above.

1. 2. 3. 4. 5.

Why Jakarta plans to cut the number of cattle it takes from Australia? What was Andrew Ogilvie said about trade? When the trade want to be a self-sufficient ? What is ABC? What was a broadcaster do in ABC?

Why The Latest Euro Bank Bailout is Bullish for America

by STEPHEN GANDEL

h
doesn't leaders

bottom-line

truth

about

today's Federal Reserve-led coordinated effort by six of the developed worlds' central

banks to ease the liquidity problems of European financial institutions is this: It change still anything. the European tough have same

decision to make. Either impose even stricter austerity measures on Europe's struggling nations or force Germany and other stronger European nations to come forward with an even bigger bailout, or, of course, kiss the Euro good-bye. And in fact that choice got a little tougher last night, after European bank leaders said that the plan to lever
(Laszlo Balogh / Reuters)

up the funds already in place to help the struggling Eurozone nations may not work.

Another wrinkle: If the move leads to an even bigger bailout the result could be a new round of inflation, particularly in the emerging market countries. That would lead to more rate hikes in China and elsewhere, which could slow the entire global economy. So if that's the case, why did U.S. stocks, which have taken a beating recently on fears that the Eurozone's problems will spread to U.S. banks and the rest of the American economy, rise 490 points on Wednesday on news of the

latest effort to prop up Europe's banks? As one analyst put it, the amount of people who bought stocks this morning on the news that central banks around the world were lowering currency swap lines probably far outweights the number of people who know what currency swap lines are. In fact, the deal struck today says more about the strength of the U.S. and the U.S. economy than it does about how and whether Europe's issues will be resolved. The latest European bank bailout measure is a coordinated effort by six central banks, but the heavy lifting is being done by the U.S. Fed. Recently, overnight lending rates among European banks had been rising on fears that some Euro banks would fail, and not be able to pay off their debts. It turns out the plan to relieve this problem is to put more U.S. dollars in the hands of banks around the world. The six large central banks - including the Bank of Canada, the Bank of Japan, the European Central Bank and others - have all agreed to allow their local banks to effectively borrow dollars at half the rate that they used to be able to. That should drive down lending rates, because if you can get dollars for cheap to fund your short-term borrowing costs why would you do anything else. The effort is being made possible by the U.S. Fed, which has agreed to make the dollars available to the other five central banks to lend to their local banks. And the Fed has agreed to keep the rate low on dollars for those other central banks until February 2013. There was a fear after the financial crisis, and there still is, that the U.S. would lose its place as the leading financial power, and all the advantages that entails. But even after the financial crisis, the crippling recession and the building up of $15 trillion dollars in debt, America remains the world's lender of last resort. The move today by central banks, and the fact that the bailout deal is being made in dollars, says that, for all the worry about the fall of the American economy, the U.S.'s standing in the world remains, for now at least, strong. So strong, that essentially the U.S. is setting rates low for the rest of the developed world through early 2013. And that alone should make U.S. investors feel better about the U.S. economy and stock market, even if they don't know for certain what currency swaps are - or that they won't do all that much to solve Europe's true problems.

Source :

http://curiouscapitalist.blogs.time.com

A.

Cross (X) the correct answer between A, B, C, D, and E based on information

of the text above.

1.

The text tells us about .......... a. b. c. d. the rising of financial income in U.S. handling Europeans financial problem European banks financial problem the effort of maintaining rate of dollars Federal Reserve-led coordinated effort by eight of the developed worlds' central banks b. c. d. The plan to lever up the funds already in place to help the struggling Eurozone nations may not work European banks had been rising on fears that some Euro banks would fail, and not be able to pay off their errand Investors want do all that much to solve Europe's true problems

2.

Which of the following statement is TRUE according to the text? a.

3.

European has ........... to ease the liquidity problems of European financial institutions. a. b. c. d. five developed worlds' central banks eight developed worlds' central banks six developed worlds' central banks seven developed worlds' central banks U.S stocks Europeans bank the question the rising of U.S. stocks the building up of $16 trillion dollars in debt

4.

The word it (in line 23, paraghraph 3) refers to ......... a. b. c. d.

5.

America remains the world's lender of last resort even after passing........ a.

b. c. d.

the U.S financial crisis the crippling submission the leading financial power

B.

Match these terms with their definitions.

financial stock market eurozone outweigh currency debts recession resort investors costs

a place where many people go for rest money which is owed to someone else, or the state of owing something the amount of money needed to buy someone who offered to acquire the company's shares the countries belonging to the European Union which use the Euro as their unit of m the money that is used in a particular country at a particular time relating to money or how money is managed to be greater or more important than something else a place where parts of the ownership of companies are bought and sold, a period when the economy of a country is not successful and conditions for busine

C. Fill in the blanks with suitable words by giving their correct grammar. 1. 2. 3. 4. 5. Many people in the world (uses) ......... bank to save their money. U.S (be) ......... one of the biggest countries who have power in controling world finances. There are six central (bank) .......... which coordinate the latest European bank bailout. U.S. is setting rates low for the rest of the (develop) ........... world through early 2013. In the last year, America (be) .......... looking for the way to face its financial problems.

6.

The European financial is (predict) ........... rise in the year of 2014.

D. Choose whether the statement is TRUE or FALSE. 1. 2. 3. 4. 5. European bank leaders said that the plan to lever up the funds already in place to help the struggling Eurozone nations may work well. U.S. stocks rise 490 points on Wednesday on news of the latest effort to prop up Europe's banks. The latest European bank bailout measure is a coordinated effort by eight central banks. Fed has agreed to keep the rate low on dollars for those other central banks until February 2013. There was a fear after the financial crisis, and there still is, that the U.S. would lose its place as the leading financial power, and all the advantages that entails. E. Answer the following questions based on the text above. 1. 2. 3. 4. 5. What is the main idea of the third paragraph? Why some European bank are not be able to pay off their debts? How is the six central banks face the problem in paying debts? How long U.S. sets rates low for the rest of the developed world finance? Why should U.S. investors feel better about the U.S. economy and stock market?

Gasoline: The new big U.S. export

By Steve Hargreaves

E
much.

W YORK (CNNMoney) -The United States is awash in gasoline. So much so, in fact, that the country is exporting a

record amount of it. The country exported 430,000 more barrels of gasoline a day than it imported in September, according to the U.S. Energy Information Administration. That is about twice the amount at the start of insiders say the trend is here to stay. the year, and experts and industry demand for products made from crude, the country is now supplying
the rest of the world with gasoline. The U.S. still imports more than half its oil. But thanks to declining

The United States began exporting gas in late 2008. For decades prior, starting in 1960, the country used all the gas it produced here plus had to import gas from places in Europe. But demand for gas has dropped nearly 10% in recent years. It went from a peak of 9.6 million barrels a day in 2007 to 8.8 million barrels today, according to the EIA. 10 most fuel efficient cars The drop was caused partially by the recession but also by the advent of more fuel efficient vehicles, higher prices and the greater use of ethanol as an ingredient in gasoline. Demand for other products made from crude oil like diesel and jet fuel has also declined, although not as To be sure, the United States is still importing plenty of oil to make that gasoline -- and is still dependent on foreign countries for well over half the crude it uses. But now the country's massive refining infrastructure is producing more gasoline, diesel and jet fuel than the United States needs, freeing it up to be exported to places like Brazil, Mexico and Chile where demand is still strong. The Wall Street Journal, which reported on the export trend last week, said the United States is on track this year to be a net exporter of refined products for the first time in 62 years. "We've got plenty of excess refining capacity," said Jonathan Cogan, a spokesman for EIA. "It's a reminder that this is a global oil market, and it's reflected by the movements of products to where they will get the highest prices."

Oil's up, gas is down. Why? Mark Williams, global head of refining, trading and marketing for Royal Dutch Shell (RDSA), said exporting diesel and other refined products from the United States used to happen fairly irregularly but is now becoming much more common. "It's growing as a new business," he said, although he cautioned that the United States would probably not become a huge exporter of fuel. Still, the ability to export oil is good news for Shell and other oil companies like Exxon Mobil (XOM, Fortune 500), BP (BP) and Chevron (CVX, Fortune 500). They can use their extensive and modern refineries in the United States to make gasoline for the rest of the world. But it may be bewildering for American drivers, who could experience record high gas prices next year even though U.S. demand could hit the lowest level in a decade, said Tom Kloza, chief oil analyst at the Oil Price Information Service. Oil roars back to $100, but does anybody care? "I can understand it, from a truck driver's perspective," said Kloza. "You're paying $4 or $4.50 a gallon to run your rig, yet we're exporting the crap out of this fuel. I'd be outraged too." Still, he cautioned against restrictions on exports of diesel or gasoline, a move he expects politicians to at least talk about in 2012. There's nothing forcing oil companies to bring crude to the United States to refine, Kloza said, noting that the refining industry employs thousands of workers. "If you restrict exports, you'd really be looking for trouble," Kloza said. "You'd just see the refining and the jobs go offshore."
Source : http://money.cnn.com

A.

Cross (X) the correct answer between A, B, C, D, and E based on information

of the text above.

1.

The main information of the text is about ........... a. b. c. d. Gasoline U.S and its gasoline The new big U.S. export The raising of U.S. export 430,000 barrels 400.000 barrels 420.000 barrels 450.000 barrels

2.

U.S export more than ........... of gasoline in September. a. b. c. d.

3.

U.S. is producing more ........... than the United States needs.

a. b. c. d. 4.

oil, gasoline and diesel gasoline, diesel and jet fuel diesel, gasoline and crude jet fuel, kidney stone, gasoline

............ reported that United States is on track this year to be a net exporter of refined products for the first time in 62 years. a. b. c. d. The Wall Street Magazine The New York Times The Wall Street Journal The Time Royal Dutch Tom Kloza Jonathan Cogan Mark Williams

5.

........... is the chief oil analyst at the Oil Price Information Service. a. b. c. d.

B.

Match these terms with their definitions.

something that is produced by an industrial process. a thick liquid that comes from under the Earth's surface. the companies and activities involved in the process of producing goods for sale. an organization which sells goods or services in order to make money liqued fuel a period when the economy of a country is not successful to buy or bring in products from another country a chemical compound which is a type of alcohol to send goods to another country for sale: a factory where raw substances such as oil or sugar are made pure

Export Industry Ethanol Refinery Gasoline Recession Import Product Oil Company

C. Fill in the blanks with suitable words by giving their correct grammar. 1. America (use) ........... all the gas that produced in 1960.

2. 3. 4. 5. 6.

The Wall Street Journal (report) ............. the United States is on track this year to be a net exporter of refined products for the first time in 62 years. Mark Williams (be) ............. the global head of refining, trading and marketing for Royal Dutch Shell. Gas has (drop) ............ nearly 10% in recent years. Kloza (caution) ............. against restrictions on exports of diesel or gasoline. America (be) ............. imported much gasoline this year.

D. Choose whether the statement is TRUE or FALSE. 1. 2. 3. 4. 5. The United States is awash in gasoline. The United States began exporting gas in late 2008. The United States is still importing plenty of oil to make that diesel. The ability to export oil is bad news for Shell and other oil companies like Exxon Mobil (XOM, Fortune 500), BP (BP) and Chevron (CVX, Fortune 500). Mark cautioned against restrictions on exports of diesel or gasoline, a move he expects politicians to at least talk about in 2013. E. Answer the following questions based on the text above. 1. 2. 3. 4. 5. Why gasoline is the new U.S. big export ? How many barrels of gasoline that had imported by U.S. through four last years? Where does U.S. exported their gasoline? Why does Mark said that exporting diesel and other refined products is now becoming much more common? Shell and other oil companies have good news for their financial benefits, what is it?

ANSWER KEY
TEXT 1

A. C C B C D B. J D B E G A I H C F C. Cooperated; Bee; Is; Showed; Wants; Telling D. T T F F T E. 1. Because the issue of ABC showing the cattle condition in Australia 2. We are still recovering from the suspension of the trade so its pretty unwelcome that its been announced 3. in year 2014 4. ABC is one of the media information or television or radio in Australia 5. A broadcaster ABC showed images of animals being kicked and mistreated ahead of slaughter. TEXT 2 A. B C C D B B. G I E H F B A D C C. Use; Is; Banks; Developed; Was; Predicted D. T T F F T E. 1. The U.S. stocks rise 490 points on Wednesday on news of the latest effort to prop up Europe's banks. 2. Because they fail to balance the costs 3. To put more U.S. dollars in the hands of banks around the world 4. 2 years 5. Because of the U.S. is setting rates low for the rest of the developed world through early 2013

TEXT 3 A. C A B C B B. I C H J E F G A B D C. Uses; Reported; Is; Dropped; Cautioned; Has D. T T F F F

E. 1. The country exported 430,000 more barrels of gasoline a day than it imported in September, according to the U.S. Energy Information Administration. 2. 8.8 million barrels 3. Brazil, Mexico and Chile 4. Because when the oil is up, the gas is down 5. They can use their extensive and modern refineries in the United States to make gasoline for the rest of the world