English For Business Banking Finance Accounting

Chapter I
BAD DEBT FROM CASH ADVANCES PILES UP

AT JAPAN’S MEGABANKS
GOALS:
 To be able to understand terms in business

 To be able to grasp main idea of the article
 To be able to use the vocabulary found in the article
 To be able to greet people in various occasions
 To be able to identify nouns and pronouns in the passage
TOKYO—Japan’s largest banks have buoyed earnings with high-interest cash

advances over the last few years, but these loans are starting to take a toll
as irrecoverable debt piles up.
Bad debt tied to the advances climbed 13% to a six-year high of roughly 140
billion yen ($1.27 billion) in fiscal 2017.
Banks issue cash advances, known as card loans in Japan, to

individuals at annual interest rates of 2% to 14%. The money is often able to be
withdrawn from ATMs without collateral or specifying how it will be used.
Lenders pay fees to guarantee companies that will repay the loan if a borrower
cannot.
Take the example of one woman in Tokyo, an office worker, who has used such
unsecured bank lending to make payments on her credit card. She has
borrowed more than her yearly salary in cash advances, and the payments eat
up 70% of her monthly paycheck. The woman is now seeing a lawyer,
who suggested that she apply for personal bankruptcy to reduce her repayment
obligations.
Such cases are growing across Japan as more of these cash loans turn sour.
...continued.
1|Page
A. Discussion Question
1. What do you understand by debt? Bad debt?
2. What do you understand by cash? Cash advances?
3. What happened to Japan’s largest banks in the last few years?
4. What do you understand by interest? Interest rate?
5. What climbed 13% to a six-year high of roughly 140 billion yen ($1.27 billion) in
fiscal 2017?
Write Five Additional Questions for Discussion.
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
B. Vocabulary
 largest (adj)
 buoyed (v)
 earnings (n)
 irrecoverable (adj)
 roughly (adv)
Write Five Other Vocabularies.
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
2|Page
C. Complete The Sentences Using The Words Provided
largest earning irrecoverable

roughly buoyed
1. Bank Mandiri is one of the __________ banks in Indonesia.

2. Bank __________ may come from customer’s deposits.
3. The bank’s profit __________ reaches $12bn.
4. __________ debt may lead to difficult financial condition.
5. Some companies were __________ by banks.
D. Language Practice
How do we read $1.3bn?
____________________________________________________________
How do we read 2017?
____________________________________________________________
How do we read 13%?
____________________________________________________________
Let’s discuss and practice numbers.
First, second, third are examples of ordinal numbers, while one, two, three are examples of
cardinal numbers. (Add with numbers and words)
How do we write cardinal and ordinal numbers in figure and in words?
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
3|Page
Fraction Definition
One way to think of a fraction is as a division that hasn't been done yet. Why do
we even use fractions? Why don't we just divide the two numbers and use the
decimal instead? In this day of cheap calculators, that's a very good question.
Fractions were invented long before decimal numbers, as a way of showing
portions less than 1, and they're still hanging around. They're used in cooking, in
building, in sewing, in the stock market - they're everywhere, and we need to
understand them.
Just to review, the number above the bar is called the numerator, and the
number below the bar is called the denominator.
We can read this fraction as three-fourths, three over four, or three divided by
four.
Every fraction can be converted to a decimal by dividing. If you use the calculator
to divide 3 by 4, you'll find that it is equal to 0.75.
Here are some other fractions and their decimal equivalents. Remember, you can
find the decimal equivalent of any fraction by dividing.
Here are some terms that are very important when working with fractions.
Proper fraction
When the numerator is less than the denominator, we call the expression a
proper fraction. These are some examples of proper fractions.
Improper fraction
An improper fraction occurs when the numerator is greater than or equal to the
denominator. These are some examples of improper fractions:
Mixed number
When an expression consists of a whole number and a proper fraction, we call it a
mixed number. Here are some examples of mixed numbers:
4|Page
We can convert a mixed number to an improper fraction. First, multiply the whole
number by the denominator of the fraction. Then, add the numerator of the
fraction to the product. Finally, write the sum over the original denominator. In
this example, since three thirds is a whole, the whole number 1 is three thirds
plus one more third, which equals four thirds.
Convert 1-1/3 to an improper fraction:
Equivalent fractions
There are many ways to write a fraction of a whole. Fractions that represent the
same number are called equivalent fractions. This is basically the same thing as
equal ratios. For example, ½, 2/4, and 4/8 are all equivalent fractions. To find out
if two fractions are equivalent, use a calculator and divide. If the answer is the
same, then they are equivalent.
Reciprocal
When the product of two fractions equals 1, the fractions are reciprocals. Every
nonzero fraction has a reciprocal. It's easy to determine the reciprocal of a
fraction since all you have to do is switch the numerator and denominator--just
turn the fraction over. Here's how to find the reciprocal of three-fourths.
To find the reciprocal of a whole number, just put 1 over the whole number. For
example, the reciprocal of 2 is ½.
(Source: http://www.math.com/school/subject1/lessons/S1U4L1DP.html)
E. Let’s Talk
Let’s recall what expressions we need for greetings.
 Greeting
 Good morning, Good afternoon, or Good evening
These are formal ways of saying “hello”, which change depending on the time of day.
Keep in mind that “good night” is only used to say “good bye”, so if you meet someone
late in the day, remember to greet them with “good evening”, rather than “good night”.
Good morning can be made more casual by simply saying “morning”. You can also use
“afternoon” or “evening” as informal greetings, but these are less commonly used.
 It’s nice to meet you or Pleased to meet you
5|Page
These greetings are formal and polite. If you say this to someone when you meet him or
her for the first time, it will make you seem courteous. Remember to only use these
greetings the first time you meet someone. Next time you see the person you can show
that you remember him or her by saying “it’s nice to see you again”.
 It’s an honor to meet you

This is usually used when you meet someone important. This is a very formal greeting
and it expresses respect.
(Source: http://medellinbuzz.com/10-greetings-english/)
Create some situations in which you can practice using the expressions.
F. Let’s Write
Look at the sentence below.
Japan's three megabanks often carry nonbank institutions like guarantee

companies within their groups, however, so that bad debt is reflected on their
consolidated books as well.
The bold words are categorized as nouns.
What is a Noun?
Types of Nouns
Common nouns and proper nouns, concrete nouns and abstract nouns, countable and
uncountable, collective nouns, compound nouns
Countable Nouns and Uncountable Nouns

Why do some nouns have no plural?
dog/dogs, rice, hair(s)
Proper Nouns
Your name is a "proper noun". Do we say "Atlantic Ocean" or "the Atlantic Ocean"?
Should I write "february" or "February"?
Shirley, Mr Jeckyll, Thailand, April, Sony
Possessive
Adding 's or ' to show possession or ownership
John's car, my parents' house
Noun as Adjective
Sometimes we use a noun to describe another noun. In that case, the first noun is
6|Page
"acting as" an adjective.
love story, tooth-brush, bathroom
Compound Nouns
A compound noun is a noun that is made with two or more words.
tennis shoe, six-pack, bedroom
(https://www.englishclub.com/grammar/nouns.htm)
Go back to the passage and underline all the nouns found in it.
G. Useful Note
Generally (but not always) pronouns stand for (pro + noun) or refer to a noun, an
individual or individuals or thing or things (the pronoun's antecedent) whose identity
is made clear earlier in the text. For instance, we are bewildered by writers who claim
something like
 They say that eating beef is bad for you.
They is a pronoun referring to someone, but who are they? Cows? whom
do they represent? Sloppy use of pronouns is unfair.
Not all pronouns will refer to an antecedent, however.
 Everyone here earns over a thousand dollars a day.
The word "everyone" has no antecedent.
Personal Pronouns
Unlike English nouns, which usually do not change form except for the addition
of an -s ending to create the plural or the apostrophe + s to create the possessive,
personal pronouns (which stand for persons or things) change form according to their
various uses within a sentence. Thus I is used as the subject of a sentence (I am
happy.), me is used as an object in various ways (He hit me. He gave me a book. Do
this for me.), and my is used as the possessive form (That's my car.) The same is true
of the other personal pronouns: the singular you and he/she/it and the plural we, you,
and they.
Personal pronouns can also be characterized or distinguished by person. First

person refers to the speaker(s) or writer(s) ("I" for singular, "we" for plural). Second
person refers to the person or people being spoken or written to ("you" for both
singular and plural). Third person refers to the person or people being spoken or
written about ("he," "she," and "it" for singular, "they" for plural). "I" becomes "me"
7|Page
when used as an object ("She left me") and "my" when used in its possessive role
(That's my car"); "they" becomes "them" in object form ("I like them") and "their" in
possessive ("That's just their way").
When a personal pronoun is connected by a conjunction to another noun or

pronoun, its case does not change. We would write "I am taking a course in Asian
history"; if Talitha is also taking that course, we would write "Talitha and I are taking
a course in Asian history." (Notice that Talitha gets listed before "I" does. This is one
of the few ways in which English is a "polite" language.) The same is true when the
object form is called for: "Professor Vendetti gave all her books to me"; if Talitha also
received some books, we'd write "Professor Vendetti gave all her books to Talitha and
me."
Instructions
Each of the following sentences contains an error in pronoun reference. Rewrite these
15 sentences, making sure that all pronouns refer clearly to their antecedents. In some
cases you may need to replace a pronoun with a noun or add an antecedent that the
pronoun logically refers to.
When you have completed the exercise, compare your revised sentences with those on
the bottom of the page.
. Last year Vince played on the college lacrosse team, but this year he is too busy to do it.
. On the menu they say that the pasta sauce is homemade.
. When the boy gently picked up his puppy, his ears stood up and his tail started wagging.
. My mother is a mail carrier, but they wouldn't hire me.
. After Governor Baldridge watched the lion perform, he was taken to Main Street and
fed 25 pounds of raw meat in front of the Fox Theater.
. After drying your dog with a towel, be sure to drop it into the washing machine.
. I applied for a student loan, but they turned me down.
. Because guilt and bitterness can be emotionally destructive to you and your children,
you must get rid of them.
. After removing the roast from the broiling pan, allow it to soak in soapy water.
. Beer in one hand and bowling ball in the other, Merdine raised it to her lips and
swallowed it in one mighty gulp.
. In the college catalog it says that students caught cheating will be suspended.
. A few moments after the countess had broken the traditional bottle of champagne on
the bows of the noble ship, she slid slowly and gracefully down the slipway, entering the
water with scarcely a splash.
8|Page
. When Frank set the vase on the rickety end table, it broke.
. A broken board had penetrated the driver's cabin and just missed his head; this had to
be removed before the man could be rescued.
. When a student is placed on probation, you may file an appeal with the dean.
(Source: https://www.thoughtco.com/exercise-correcting-errors-pronoun-reference-1690961)
9|Page
Chapter II
BAD DEBT FROM CASH ADVANCES PILES UP
AT JAPAN’S MEGABANKS (II)
GOALS:
 To be able to make self-introduction and introduce others
 To be able to identify subject in clauses
... (continued from Chapter I)
Japan's three megabanks often carry nonbank institutions like guarantee

companies within their groups, however, so that bad debt is reflected on their
consolidated books as well.
Nonbanks Acom and SMBC Consumer Finance, formerly known as Promise,
are consolidated
subsidiaries of Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Gro
up respectively. Mizuho Bank has a 49% stake in Orient, making it an equity-
method affiliate. Mizuho Bank is part of Mizuho Financial Group.
Although megabanks' credit-related costs have been low the past few years as
the economy recovers and corporate earnings improve, the growth of expenses
associated with irrecoverable loans is rising at each of their non bank
subsidiaries. These guarantee companies are not only being hurt by bad cash
advance loans within their groups but also by ones they guaranteed for other
financial institutions like regional banks.
In 2010, Japan revised its lending law to limit unsecured loans to a third of
borrowers' annual income. Instead of a big drop in their outstanding loan
balance, however, lenders saw an increase thanks to cash advances, which fell
outside the new rules.
With low interest rates squeezing banks' margins, unsecured loans are viewed as
a promising source of revenue, rising to just under 6 trillion yen among all banks,
for an 80% increase in eight years.
10 | P a g e
But cash advances have been criticized for leading to excessive lending that has
allowed borrowers to rack up debt from multiple borrowers. The Japanese
Bankers Association called for tighter screening in March 2017, and many banks
have
set voluntary financing limits in accordance with borrowers' annual incomes. This
has prevented outstanding lending from growing for now, but bad debt is beginni
ng to pile up from past loans.
"Our clientele changed as the balance [of outstanding loans] rose," said one
executive at a non bank company, citing a rise in unsecured lending to higher-risk
borrowers with lower annual incomes.
Source: Nikkei Asian Review, written by Tomomi Mitobe

June 21, 2018 07:02 JST
Copied: August 20, 2018
1) How many megabanks are mentioned in the text?

2) What is the name of the Mitsubishi UFJ Financial Group consolidated subsidiary?
3) What is the percentage of stake of Mizuho Bank in Orient?
4) When did Japan revise its lending law?
5) Why did Japan revise its lending law?

_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
11 | P a g e
B. Vocabulary
1. Consolidated (adj.)
2. Books (n.)
3. Subsidiaries (n.)
4. Stake (n.)
5. Equity (n.)
Write Ten Other Difficult Words or Phrases and Give Each of Them a Synonym or
Definition.
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
Stake Income Books Interest Subsidiary
1. What company is the...............of Astra Motor Company?
2. We need to review our sales as our annual...........gets worse.
3. Let’s compare the ............rates several banks offer us.
4. The company has to release some of the...........to help the financial condition.
5. What can we learn from this year consolidated...........?
Adjectives are words that describe or modify another person or thing in the
sentence. The Articles — a, an, and the — are adjectives.
12 | P a g e
 the tall professor
 the lugubrious lieutenant
 a solid commitment
 a month's pay
 a six-year-old child
 the unhappiest, richest man
If a group of words containing a subject and verb acts as an adjective, it is called

an Adjective Clause. My sister, who is much older than I am, is an engineer. If an
adjective clause is stripped of its subject and verb, the resulting modifier becomes an
Adjective Phrase: He is the man who is keeping my family in the poorhouse.
Before getting into other usage considerations, one general note about the use
— or over-use — of adjectives: Adjectives are frail; don't ask them to do more work
than they should. Let your broad-shouldered verbs and nouns do the hard work of
description. Be particularly cautious in your use of adjectives that don't have much to
say in the first place: interesting, beautiful, lovely, exciting. It is your job as a writer to
create beauty and excitement and interest, and when you simply insist on its
presence without showing it to your reader — well, you're convincing no one.
Look at the passage and let’s practice the noun phrases.
We examine the 52-week anchoring effect in the Indian takeover market that
has a unique regulatory design. The Indian takeover regulation mandates the
minimum offer price to be function of the target’s 26-week or 60-day high
price. We show that the 52-week anchoring effect is robust even in the face
of other regulatory anchors that differ from the widely cited 52-week high
price. The anchoring effect dominates when the offer price exceeds the 52-
week high price. Regulatory intervention in 2011 that shifts the floor price to
a recent market price, such as the 60-day high price, does not attenuate the
52-week anchoring effect. We infer that acquirers are willing to pay a higher
premium while anchoring to the 52-week high price, even when the
regulatory focus is on lower reference prices. Besides, regulatory anchors
also serve as additional focal points, demonstrated by the significance of the
26-week high price during its own period of regulation (2002-2011).
http://journals.sagepub.com/doi/full/10.1177/0148558X18798998
Go back to the passage and underline any adjective found in the passage.
E. Let’s Talk
Introducing
 Introducing yourself
Hello. / Hi. I am ...
13 | P a g e
Hello. / Hi. My name is ...
I don’t think we’ve met. I’m ...
This is (name) speaking.
 Introducing other people

This is ...
I want you to meet ...
I would like to introduce you to ...
 Exchanging greetings
Nice to meet you.
I’m very pleased to meet you.
I’m delighted to meet you.
 Saying what you do

I deal with ...
I handle ...
I oversee ...
I’m in charge of ...
I’m responsible for ...
My job involves ...
(Source: Business Result Intermediate – Student’s Book page 6)
Create some situations in which you can practice using the expressions for
introduction.
F. Let’s Write
A sentence usually has a subject. A subject is a word which describes action.

Read the sentences below.
14 | P a g e
1. Japan's largest banks have buoyed earnings with high-interest cash advances
over the last few years, but these loans are starting to take a toll as irrecoverable
debt piles up.
Bad debt tied to the advances climbed 13% to a six-year high of roughly 140
billion yen ($1.27 billion) in fiscal 2017.
2. Banks issue cash advances, known as card loans in Japan, to individuals at annual
interest rates of 2% to 14%.
The money is often able to be withdrawn from ATMs without collateral or
specifying how it will be used.
Rewrite the subject of each clause or sentence above.

_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
G. Useful Note
Position of Adjectives
Unlike Adverbs, which often seem capable of popping up almost anywhere in a

sentence, adjectives nearly always appear immediately before the noun or noun
phrase that they modify. Sometimes they appear in a string of adjectives, and when
they do, they appear in a set order according to category. (See Below.) When
indefinite pronouns — such as something, someone, anybody — are modified by an
adjective, the adjective comes after the pronoun:
Anyone capable of doing something horrible to someone nice

should be punished.
Something wicked this way comes.
15 | P a g e
And there are certain adjectives that, in combination with certain words, are always
"postpositive" (coming after the thing they modify):
The president elect, heir apparent to the Glitzy fortune, lives in

New York proper.
EXERCISE!
Collocations are word combinations that sound natural to a native speaker. In the
exercise below, choose the adjective or adverb that collocates with the words in bold.
1. I was exhausted, so I drank a double espresso. Now I’m _____ awake.

a. Highly b. Wide c. Thoroughly d. entirely
2. I wasn’t expecting much of a raise, so I was ______ surprised when I got a

sizeable raise.
a. Welcomely b. Happily c. Cheerfully d. Pleasantly
3. We should hold ourselves to _____ standards. We shouldn’t be satisfied with these

mediocre results.
a. High b. Large c. Big d. great
4. Our CEO and company president got into a(n) _____ debate yesterday. They were
at each other’s throats.
a. Harsh b. Heated c. Strong d. angry
5. Bill’s doctor told him that he needs to start getting ______ exercise. He’s
overweight and has high blood pressure.
a. Usual b. Routine c. Consistent d. regular
6. We can’t afford to hire someone we need to train. We need someone who can step
in and have a(n) _____ impact.
a. Urgent b. Instant c. Immediate d. prompt
7. I didn’t want to bother Carl. He was in his office and it looked like he was
lost in ______ thought.
a. deep b. great c. heavy d. serious
8. I wouldn’t do that if I were you. You’re making a _____ mistake.
a. huge b. great c. massive d. big
16 | P a g e
9. I have _____ admiration for the senator. She’s been a respected member of
Congress for over thirty years.
a. great b. complete c. high d. thorough
10. Some people will undoubtedly be a few minutes late. There is really
______ traffic today.
a. harsh b. high c. strong d. heavy
11. Last year we had several blizzards and it was bitterly cold almost every day.
Fortunately, this year we’re having a _____ winter.
a. soft b. weak c. slight d. mild
12. There is a _____ chance that I’ll have to travel to one of our subsidiaries in April.
a. weak b. light c. slight d. mild
13. Can we meet at 6:30 instead of 7:30 for dinner? I had a _____ lunch, and I’m
starting to get hungry.
a. light b. slight c. modest d. little
14. Do we have any idea what the _____ cause is of this issue?

a. key b. base c. root d. basic
15. Honestly, I have no idea which candidate I’m voting for. I just don’t have very
_____ political beliefs.
a. hard b. great c. big d. strong
16. I was expecting a brief overview, so I was surprised when they went into
everything in _____ detail.
a. deep b. utter c. great d. thorough
17. The news was a shock for Miguel. He stared at his friends in _____ disbelief.
a. overwhelmed b. alarmed c. surprised d. utter
18. Big Datas a _____ topic right now in the IT field.
a. hot b. popular c. sensational d. favorable
19. This research is too general. What we need is more _____ information.

a. detailed b. thorough c. deep d. profound
17 | P a g e
20. I didn’t like the house I looked at today. It was rather cramped and there was
a _____ smell in the basement.
a. harsh b. heavy c. strong d. powerful
21. I had no idea that Dave left the company. This comes as a _____ shock to me.
a. unwelcome b. total c. perfect d. deep
22. This isn’t something to be taken lightly. It’s a _____ decision. Why don’t you
sleep on it and tell me your answer in the morning?
a. considerable b. complex c. grand d. big
23. The weather report is calling for _____ rain this afternoon. There’s a flood watch
in effect for several counties.
a. strong b. rough c. enormous d. heavy
24. You can’t eat a bag of Doritos and a diet Coke for lunch every day. You need to
eat ______ meals.
a. total b. balanced c. beneficial d. genuine
25. We arrived in London very quickly. I had no idea the train traveled at such a
_____ speed.
a. great b. high c. strong d. significant
26. It’s hard to take _____ criticism, especially if it’s true.
a. hard b. rough c. harsh d. tough
27. The database has an incredibly ______ amount of information.

a. high b. great c. large d. big
28. I was nervous about skydiving at first, but now I’m happy I did it. What a(n)
_____ experience!
a. unique b. only c. exclusive d. solitary
29. The _____ majority of Americans have never been to Europe.

a. big b. immense c. vast d. huge
18 | P a g e
30. To work in customer service, you need to be able to keep a _____ head. You
can’t get upset every time someone yells at you.
a. calm b. cool c. composed d. solid
19 | P a g e
Chapter III
MOST ASIAN CURRENCIES UP MOODY'S AIDS PESO
GOALS:
 To be able to understand terms in Business

 To be able to start a conversation
 To be able to identify verbs in clauses
Most Asian currencies treaded water late Monday, buoyed by yen's bounce
in New York, Friday, dealer said.
But in absence of fresh trading incentives and with the yen relatively stable
in Asia Monday, most of the region's currencies were in tight ranges, dealers
said. Asian currencies will likely continue to amble in familiar territory this week,
with Tokyo perceived unlikely to condone a sharp depreciation in the yen before
a meeting of the Group of Seven industrialized nations this weekend to avert any
accusation that is relying on a weaker yen to resuscitate its economy, some
observers said.
DBS Bank said Tokyo may want to keep the yen steady within its recent
range of 132 yen to 135 yen this week.
Just when analysts were looking at the Philippine peso increasingly

favorably, the currency received a mild fillip when Moody's Investors Service
raised the outlook on the country's Bal ratings to stable from negative Monday.
The international ratings agency credited the upgrade to the government's

success in meeting fiscal targets and stronger economic outlook.
The dollar ended at 51.220 pesos, down from 51.310 pesos Friday.
Government data issued Monday show export revenues last year plunged
15.6 Singapore were off their highs as then yen retreated slightly after falling to
advance beyond 133 yen to the dollar, dealers said.
At 10.00 GMT (5.00 p.m. Jakarta time). The dollar was quoted at 133.26 yen,
a touch higher than 133.15 yen late Friday in New York. The dollar was at 134.42
20 | P a g e
yen in Tokyo late Friday.
In Seoul, the won ended steady at 1,317.8 won, compared with 1,317.6 won
Friday. The won had earlier hit an intraday peak of 1,310.3 won.
The Thai currency was at 44 baht to the dollar, slightly firmer compared with
44.035 baht late Friday.
Thai central bank Governor Pridiyathorn Devakula suggested Monday that

the authority will continue intervene to check excessive volatily in the baht.
The New Taiwan dollar relinquished a bulk of its earlier gains on last-minute
U.S. dollar purchases by Taiwan's central bank, dealers said. The New Taiwan
dollar closed at its intraday low of NT$ 34.998 against the U.S. currency, but was
still marginally firmer than NT$ 35.004 Friday. The New Taiwan dollar peaked at
NT$ 34.943 on the day.
The Indonesian currency was steady around Rp 10,320 to the dollar

compared with Rp 10,325 late Friday.
The Indonesian rupiah ended steady against the dollar in range bound trade
Monday as flooding in Jakarta.
Source: Dow Jones Singapore, written by Netty Ismail
1. What was wrong with most Asian currencies? And why?
2. What was the prediction of the Asian regencies for that week?
3. What Yen value against Dollar did Tokyo want to keep?
4. What was happening to Philippine Peso? Why?
5. What was the highest value of Won against Dollar?
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
21 | P a g e
_______________________________________________________________
B. Vocabulary
 treaded water (idiom): to stay floating upright by moving your legs.

 bounce (v): to be returned to the person because there is not enough money in the
payer's account.
 to amble (v): to walk slowly in a relaxed way.
 to condone (v): to approve or to allow behavior that most people think is wrong.
 to avert (v): to prevent something unpleasant from happening.
 to resuscitate (v): to make someone starts breathing again.
 credited (v): just money into someone account.
 fiscal (adj): referring to tax or to government revenues.
 revenues (n): money received.
 plunged (v): plummeted: to fall sharply.
 to advance (v): to lend.
 was quoted (v): estimated.
 steady (adj): firm.
 volatility (n): changing suddenly.
 a bulk (n): largest or main part of something.
Write Ten Other Difficult Words or Phrases and Give Each of Them a Synonym or Definition.
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
C. Substitute The Words Underlined Using Appropriate Words From The Text
1. The Indonesian economy growth moves slowly.

2. The oil subsidy reduction is aimed to make the country's finance gets better.
3. International trust on some of Indonesian domestic banks once fell steeply.
22 | P a g e
4. To avoid any mistakes in decision making, the management has to examine all
documents carefully.
5. The financial target of the company is not very realistic.
Verbs in English have four basic parts:
Base form -ing form Past tense Past participle
work working worked worked
Play playing played played
listen listening listened listened
Most verbs are regular: they have a past tense and past participle with –
ed (worked, played, listened). But many of the most frequent verbs are irregular.
Write down any verbs found in the text, and label them with Regular or
Irregular Verbs.
..............................................................................................................................
..............................................................................................................................
..............................................................................................................................
..............................................................................................................................
..............................................................................................................................
E. Let’s Talk
 Starting a conversation
Hi, I don’t think we’ve met.
Hello. It’s (name) isn’t it?
Hello. I saw you but I didn’t have a chance to speak to you.
23 | P a g e
Hello/Hi. I’m ... (from/based in ...).
Is this your first (company event)?
I thought I might see you (here).
How lovely to see you here.
How are things?
How does your side of things look?
(Source: Business Result Upper Intermediate – Student’s Book page 15 & 20)
Create a conversation and role play it to practice some of the expressions.
F. Let’s Write
Predicates
A predicate is the completer of a sentence. The subject names the "do-er" or

"be-er" of the sentence; the predicate does the rest of the work. A simple
predicate consists of only a verb, verb string, or compound verb:
 The glacier melted.
 The glacier has been melting.
 The glacier melted, broke apart, and slipped into the sea.
A compound predicate consists of two (or more) such predicates connected:
 The glacier began to slip down the mountainside and eventually crushed some of the

village's outlying buildings.
A complete predicate consists of the verb and all accompanying modifiers and

other words that receive the action of a transitive verb or complete its meaning. The
following description of predicates comes from The Longman Handbook for Writers
and Readers (examples our own):
With an intransitive verb, objects and complements are included in the

predicate. (The glacier is melting.) With a transitive
verb, objects and object complements are said to be part of the
predicate. (The slow moving glacier wiped out an entire forest. It gave the
villagers a lot of problems.) With a linking verb, the subject is connected
to a subject complement. (The mayor doesn't feel good.)
A predicate adjective follows a linking verb and tells us something about the subject:
 Ramonita is beautiful.
 His behavior has been outrageous.
 That garbage on the street smells bad.
24 | P a g e
A predicate nominative follows a linking verb and tells us what the subject is:
 Dr. Couchworthy is acting president of the university.

 She used to be the tallest girl on the team.
(Source: http://grammar.ccc.commnet.edu/grammar/objects.htm)
G. Useful Note
Modals
The modal verbs are can, could, may, might, must, shall, should, will and would.

The modals are used to show that we believe something is certain, probable or
possible:
Possibility:
We use the modals could, might and may to show that something is possible in the

future, but not certain:
They might come later. (= Perhaps/Maybe they will come later.)
They may come by car. (= Perhaps/Maybe they will come by car.)
If we don’t hurry we could be late. (= Perhaps/Maybe we will be late)
We use could have, might have and may have to show that something was
possible now or at some time in the past:
It’s ten o’clock. They might have arrived now.
They could have arrived hours ago.
We use the modal can to make general statements about what is possible:
It can be very cold in winter. (= It is sometimes very cold in winter)
You can easily lose your way in the dark. (= People often lose their way in the
dark)
We use the modal could as the past tense of can:
It could be very cold in winter. (= Sometimes it was very cold in winter.)
You could lose your way in the dark. (= People often lost their way in the
dark)
Impossibility:
We use the negative can’t or cannot to show that something is impossible:

That can’t be true.
You cannot be serious.
We use couldn’t/could not to talk about the past:
25 | P a g e
We knew it could not be true.
He was obviously joking. He could not be serious.
Probability:
We use the modal must to show we are sure something to be true and we have

reasons for our belief:
It’s getting dark. It must be quite late.
You haven’t eaten all day. You must be hungry.
We use must have for the past:
They hadn’t eaten all day. They must have been hungry.
You look happy. You must have heard the good news.
We use the modal should to suggest that something is true or will be true in the
future, and to show you have reasons for your suggestion:
Ask Miranda. She should know.
It's nearly six o'clock. They should arrive soon.
We use should have to talk about the past:
It's nearly eleven o'clock. They should have arrived by now.
(https://learnenglish.britishcouncil.org/en/english-grammar/certain-probable-or-possible)
26 | P a g e
Chapter IV
THE BULL MARKET LIVES
GOALS:

 To be able to maintain a conversation
 To be able to identify objects in clauses
Forget all the hand wringing. I remain a bull during the April market slump,
the bears seemed to be right for a few days. But as always, the market's verdict
was what mattered not the analysts’ or the editorial writer's lure enough, the
market rebounded, as it has in the past.
I continue to look for higher prices because of how investors behaved when
things got though which convinces me that bullish sentiment remains strong.
When prices plummeted, did investors flock for the exits? No, they bought on the
dip. On April 14 small investors sold 6.8 million shares and purchased 10.1
million. Sure, at some point they might not buy. But those who buy as stocks go
down are demonstrating their faith in the future and I learned long ago not to
bet against the market.
The bears don’t understand that the stock market is based on sentiment and
perception. The best authority on that was John Maynard Keynes, who once
compared the market to a beauty contest. To find the winner, he said, you
should not necessarily pick the prettiest girl. Pick the one everyone else thinks is
prettiest. And today, a lot of people are still in the contest, voting
enthusiastically.
The ongoing Old Economy-New Economy debate is really a bullish indicator.

It tells me that investors still want to buy stocks, yet are unsure of which ones.
They may be leaving the technology revelry, but are going next door to the
pharmaceuticals wingding or the paper products party. One place they're not
going is home.
Another encouraging sign is how stale the bear's arguments are. Since the
bull market began in 1991, we've been hearing that it's overvalues. In fact, one
columnist wrote an article that year titled: "Remember When the Market Made
27 | P a g e
Sense?" The recent orgy of I-told-you- so' s was, as before, wrong. When the
market bounced back, the splutterings we heard were comical.
Now we're hearing about the $110 billion in newly public Internet stock that
insiders will be able to unload over the next six months as so-called lockup
periods expire. Given that the average daily Nasdaq dollar volume is currently
more than $50 billion, even if all the insiders do divest their holdings, the lockup
expirations are no great cause for concern.
Is the market risky? Of course. But even riskier is staying out of it. If you
heeded the pessimists in 1295, say, and put your money into cash or Treasury,
you wouldn't have made much progress toward your retirement goals.
And if you tried to really capitalize on the coming 1996 downturn by selling
short, buying market puts or selling calls, you'd be in very bad shape-sitting on
park bench, reading a borrowed copy of FORBES GLOBAL and drinking out of a
brown paper bag.
To truly understand the market, realize that corrections and consolidations

occur from time to time. I first highlighted Texas Instruments in my Jan 6, 1992.
column. Since then the stock is up over 4,000%, but it 's has had ten corrections
of 20% or more. It's having another now. Since every other one has been a
buying opportunity, this is one as well. History is on the side of the bulls. A year
ago we had a similar correction. Beginning Apr 26, 1999, the Nasdaq declined
6.8% , reflecting Y2K concerns. (You remember Y2K.) A major publication had this
dead on headline: "Ban Voyage, Internet Stocks."
There will be other corrections and someday a bear market. But watch what
investors actually do.
What's ahead? Technology is still the place for growth investors. Drugs and
health care have political overtones in an election year, so be leery of them.
Consumer names are no longer expanding (forget Coke, Gillette Gap) with the
exception of such turnaround plays as Disney (41, DIS) and even Sears Roebuck
(40,s) Oil prices are coming down, although the drillers are still good. As the
global economy recovers and the U.S. remains strong, where else is there to
invest?
Buy some of the stocks that were hammered in mid-April. Names like LSI
Logic(55,LSI), Time Warner (91, TWX-the better way to play the merger with
America Online, another of my favorites), Applied Materials (93.AMAT) and
Teradyne (95,TER).
I also like some of the financial stocks, including the large brokers: Goldman Sachs
(89, GS). Morgan Stanley (74, MWD), Merrill Lynch (98, MER) and Donaldson, Lufkin &
Jenrette (42, DLJ). Plus American Express (142, AXP) and good banks like Chase
Manhattan (77, CGF) and J.P Morgan (131, JPM)
28 | P a g e
Source: Laszlo Birinyi Jr
1. What do you understand about what John Maynord Keynes said? (par 3)
2. What do you understand by bullish indicator?
3. How could we truly understand the market?
4. What is the place for growth investors?
5. What's the effect of global economy recovering upon investment?
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
B. Vocabulary
 slump (v): to suddenly go down in amount.
 verdict (n): someone's opinion about st.
 rebounded (adj): went back up again quickly.
 flock (n): a large group of people.
 splatterings (v): hitting against a surface.
 expirations (n): coming to an end.
 capitalize (v): to invest money in a working company.
 bull market (n): period when share prices rise because people are optimistic and
buy shares.
Write Ten Other Difficult Words or Phrases and Give Each of Them a Synonym or Definition.
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
29 | P a g e
_____________________________________________________________________
_____________________________________________________________________
C. Substitute The Underlined Words Using Any Appropriate Ones In The Text
1. The society expect that the oil prices will go down.

2. There is a crowd of people gathering at a park.
3. The falling of the share prices attract both old and new investors.
4. The investors aim to take away their fund from the cooperative.
5. The golden age of foreign investment has ended.
Noun Phrases
Often a noun phrase is just a noun or a pronoun:

People like to have money.
I am tired.
It is getting late.
or a determiner and a noun …:
Our friends have bought a house in the village.
Those houses are very expensive.
… perhaps with an adjective:
Our closest friends have just bought a new house in the village.
Sometimes the noun phrase begins with a quantifier:
All those children go to school here.
Both of my younger brothers are married
Some people spend a lot of money.
Numbers:
Quantifiers come before determiners, but numbers come after determiners:
My four children go to school here. (All my children go to school here.)
Those two suitcases are mine. (Both those suitcases are mine)
So the noun phrase is built up in this way:
Noun: people; money
Determiner + noun: the village, a house, our friends; those houses
Quantifier + noun: some people; a lot of money
30 | P a g e
Determiner + adjective + noun: our closest friends; a new house.
Quantifier + determiner + noun: all those children;
Quantifier + determiner + adjective + noun: both of my younger brothers
The noun phrase can be quite complicated:
a loaf of nice fresh brown bread
the eight-year-old boy who attempted to rob a sweet shop with a pistol
that attractive young woman in the blue dress sitting over there in the corner
Some words and phrases come after the noun. These are called postmodifiers. A
noun phrase can be postmodified in several ways. Here are some examples:
• with a prepositional phrase:
a man with a gun
the boy in the blue shirt
the house on the corner
• with an–ing phrase:
the man standing over there
the boy talking to Angela
• with a relative clause:
the man we met yesterday
the house that Jack built
the woman who discovered radium
an eight-year-old boy who attempted to rob a sweet shop
• with a that clause.
This is very common with reporting or summarizing nouns like idea, fact, belief,
suggestion:
He’s still very fit, in spite of the fact that he’s over eighty.
She got the idea that people didn’t like her.
There was a suggestion that the children should be sent home.
• with a to-infinitive.
This is very common after indefinite pronouns and adverbs:
You should take something to read.
I need somewhere to sleep.
I’ve got no decent shoes to wear.

There may be more than one postmodifier:
an eight-year old boy with a gun who tried to rob a sweet shop
that girl over there in a green dress drinking a coke.
(https://learnenglish.britishcouncil.org/en/english-grammar/noun-phrase)
31 | P a g e
E. Let’s Talk
 Maintaining conversation
By the way ...
Anyway, ...
Well, ...
Apparently ...
I’ve heard ... – is that true?
In fact ...
Don’t you ...?
So ...
(Source: Business Result Upper Intermediate – Student’s Book page 15)
Create a dialogue to practice several of the expressions
F. Let’s Write
Direct and Indirect Objects
A direct object is the receiver of action within a sentence, as in "He hit the ball."
Be careful to distinguish between a direct object and an object complement:
 They named their daughter Natasha.
In that sentence, "daughter" is the direct object and "Natasha" is the object
complement, which renames or describes the direct object.
The indirect object identifies to or for whom or what the action of the verb is
performed. The direct object and indirect object are different people or places or
things. The direct objects in the sentences below are in boldface; the indirect objects
are in italics.
 The instructor gave his students A's.
 Grandfather left Rosalita and Raoul all his money.
 Jo-Bob sold me her boat.
Incidentally, the word me (and similar object-form pronouns such as him, us, them) is
not always an indirect object; it will also serve, sometimes, as a direct object.
 Bless me/her/us!
 Call me/him/them if you have questions.
32 | P a g e
(https://learnenglish.britishcouncil.org/en/english-grammar/certain-probable-or-
possible)
G. Useful Note
Relative Clauses
This handout will help you understand what relative clauses are and how they work,
and will especially help you decide when to use “that” or “which.”
What is a relative clause?
A relative clause is one kind of dependent clause. It has a subject and verb, but can’t
stand alone as a sentence. It is sometimes called an “adjective clause” because it
functions like an adjective—it gives more information about a noun. A relative
clause always begins with a “relative pronoun,” which substitutes for a noun, a noun
phrase, or a pronoun when sentences are combined.
The relative pronouns are:
who for people can substitute for subject nouns/pronouns (he, she, we, they)
whom for people can substitute for object nouns/pronouns (him, her, us, them)
whose for people can substitute for possessive nouns/pronouns (his, hers, our,
their)
that for people or can be either subject or object

things can only be used in restrictive relative clauses (see below)
which for things can be either subject or object
can be used in non-restrictive relative clauses

can also be used in restrictive relative clauses, though some
people don’t like this use
Relative pronoun as subject (in red):
I like the person. The person was nice to me.
I like the person who was nice to me.
I hate the dog. The dog bit me.
I hate the dog that bit me.
I am moving to Louisville, KY. It is home to the Muhammad Ali Museum.
I am moving to Louisville, KY, which is home to the Muhammad Ali Museum.
Relative pronoun as object (in red):
I like the bike. My father gave me the bike.
I like the bike that my father gave me.
33 | P a g e
Restrictive Relative Clauses
Restrictive relative clauses give information that defines the noun—information that’s
necessary for complete identification of the noun. Use “that” or “which” for non-
human nouns; use “that” or “who” for human nouns. Do not use commas.
I like the paintings. (Which paintings? We can’t clearly identify them without the
relative clause.)
So we add the clause:
The paintings hang in the SASB North lobby.
I like the paintings that hang in the SASB North lobby.
OR
I like the paintings which hang in the SASB North lobby. (Again, this is
acceptable, but some people object to using “which” in a restrictive relative
clause. “That” is preferred.)
Students who study hard will do well in my class. (Only this group of students
will do well.)
Students whose grades are low can drop one test score. (Only this group can drop
a test score.)
When the noun is the object of the preposition, both the noun and the preposition
move together to the front of the relative clause. In less formal English, it’s common
to move only the pronoun to the front of the clause.
I spent hours talking with a person last night. I hope to hear from her.
I hope I hear from the person with whom I spent hours talking last night. (more
formal)
OR
I hope to hear from the person whom I spent hours talking with last night. (less
formal)
Non-restrictive Relative Clauses
This type of relative clause merely provides extra information. The information may
be quite interesting and important to the larger conversation, but it is not essential for
precise identification of the noun. “That” cannot be used as a relative pronoun in a
non-restrictive relative clause. Commas are always used at the beginning and end of
this type of relative clause.
A non-restrictive relative clause can modify a single noun, a noun phrase, or an
entire proposition.
My mother is thinking of opening a restaurant. My mother is an excellent cook.
“My mother” is already a clearly defined noun, so the second sentence becomes a
non-restrictive relative clause set off by commas on both sides.
My mother, who is an excellent cook, is thinking of opening a restaurant.
I’m planning to grow roses. I find roses quite beautiful.
I’m planning to grow roses, which I find quite beautiful.
34 | P a g e
(not okay) I’m planning to grow roses, that I find quite beautiful.
I’m driving across the country with three small children.
Driving across the country with three small children is going to be stressful.
I’m driving across the country with three small children, which is going to be
stressful.
Reducing Relative Clauses
Some types of relative clauses can be “reduced”— the relative pronoun and maybe
other words can be removed. You might reduce the clause to make your writing
more concise or to add sentence variety. We’ll use the examples above to
demonstrate how to reduce both restrictive and non-restrictive clauses.
Restrictive relative clauses can be reduced in two ways.
Subject pronouns can be deleted if –ing is added to the verb.
I like the paintings that hang in the SASB North lobby.
I like the paintings hanging in the SASB North lobby.
Object pronouns can be deleted.
I like the bike that my father gave me.
I like the bike my father gave me.
Non-restrictive relative clauses can be reduced in one way.
Subject pronouns with “be” verbs can be deleted in non-restrictive clauses.
I am moving to Louisville, KY, which is home to the Muhammad Ali Museum.
I am moving to Louisville, KY, home to the Muhammad Ali Museum.
My mother, who is an excellent cook, is thinking of opening a restaurant.
My mother, an excellent cook, is thinking of opening a restaurant.
Subject-Verb Agreement in Relative Clauses
Remember that the relative pronoun is substituting for a noun, which could be
singular or plural before the substitution. The verb in the relative clause must agree
with the original noun.
People are lucky. People win the lottery.
People who win the lottery are lucky. (plural verb)
A person is lucky. She wins the lottery every year.
A person who wins the lottery every year is lucky. (singular verb)
Agreement can be tricky in “one of the…” constructions. The key is to find which
noun the relative pronoun is referring to.
Homelessness is a problem. The problem needs to be addressed.
Homelessness is a problem that needs to be addressed. (singular problem)
Many problems need to be addressed. Homelessness is one of the problems.
35 | P a g e
Homelessness is one of the problems that need to be addressed. (plural
problems)
(Source: https://writingcenter.unc.edu/relative-clauses/)
Chapter V
MUTUAL FUNDS COULD PROVIDE HAVEN
FOR SINGAPORE INVESTOR
GOALS:

 To be able to make an offer
 To be able to identify adverbs of manner
 To be able to write simple sentences
SINGAPORE—If you worry about tying up your Singapore retirement money

in plummeting individual stocks during an economic slump, consider investing in
unit trusts, also known as mutual funds.
Eight out of the 10 best-performing unit trust for sale in Singapore over the
past three years are included in the city state's government-approved investment
plan for its mandatory pension fund, the Central Provident Fund, or CPF.
Traditionally, Singaporeans have used the portion of their pension accounts

that may be invested to speculate on stocks or buy up property that has
deprecated rapidly in this current slowdown, neither of which looks terribly
attractive now.
Given the current downturn and plunging stock markets, analysts say that
those Singaporeans who have invested part of their CPF money in property and
individual stocks have lost hundreds of thousands of dollars from their
retirement accounts. Many of those investors probably will need to wait a little
longer before they can save enough to last them through retirement.
They might do well to consider mutual funds. Over the past two years, the
Singapore government has liberalized its policies on what people can do with
their pension money, introducing different investment channels and adding more
36 | P a g e
unit trusts to the list of more than 100 funds approved for CVP investment.
Funds in Singapore, as well as in the rest of Asia, have been tough sell until
now. Currently in Singapore, only 6.4% of CPF 's available investment go to unit
trusts. About 47% go to buying stocks, while 44.9% go to insurance policies.
“It's tough getting people to invest in unit trusts right now," says Peter
Douglas of asset-management consultancy GFIA Pte., Ltd. in Singapore. "In the
past, the real wealth built up had been in property. CPF was considered dead
money sitting in a bank. The one thing you could use it for was to buy
property…… But I think the government recognizes that having Singaporeans tie
up their CPF money in property is structurally risky because it gives you a balance
sheet but no income."
Some well-known rules of equity investing apply equally to buying equity

mutual funds. Take at least a three year view, says Vasu Menon, chief editor of
fintaiQ, a subsidiary of the Bank of Singapore Ltd., the Internet arm or Oversea
Chinese Banking Corp. "Otherwise, you are better off looking elsewhere.
Over the three years to June 30, 2001.
Source: Shu Shin Luh
1. What are mutual funds?

2. What did Singaporeans usually do with their personal accounts?
3. What did the analysts say about those Singaporeans who have invested part of
their CPF money?
4. Why was CPF considered dead money?
5. What did Vasu Menon suggest about the buying of mutual funds?
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
37 | P a g e
_____________________________________________________________________
B. Vocabulary
 Stocks (n) : investments in a company, represented by shares of fixed

 Unit trust (n): organization which takes money from investors and invests it in
stocks and shares for them under a trust deed.
 Mutual funds (n) : organizations which take money from small investors and
invest it in stocks and shares for them.
 Mandatory (adj): compulsory.
 Pension funds (n): investments managed by pension companies to produce
pensions for investors.
 Downturn (n): movement towards lower prices or sales or profits.
 Dead money (n) : money which is not invested to make a profit.
 Equity (n) : the value of a company which is the property ordinary shareholders
 Subsidiary (adj): which is less important.
Definition.
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
C. Substitute The Underlined Words Using Any Appropriate Ones In The Text
1. There is a sloping trend of investment at present.

2. The idle money they kept was more than we expected.
3. Astra Finance is owned by Astra group company.
4. The money inherited is used to set up malls and apartments.
38 | P a g e
5. We do not bet against our investment.
Adverbs of Manner
What is an adverb of manner?
Adverbs of manner describe how something happens. For example, it is possible to walk
or run at different speeds. The words used to describe walking or running at different
speeds (quickly or slowly forexample) are excellent examples of adverbs of manner.
They help the reader gain greater insight into the way a written scene is playing
out. Comparing the following sentences will help you to understand how these adverbs
change the overall meaning of the sentences they’re found in.
The boys ran. (There is no adverb of manner in this sentence, so we can only imagine
how fast the boys are running.)
The boys ran quickly. (The adverb of manner is quickly. It tells us that the boys are in a
hurry.)
The boys were tired, so they ran more slowly than before. (The adverb of manner
is slowly. It tells us that the boys are running, but they aren’t covering as much ground as
they were before.)
There are a few rules to remember regarding adverbs of manner:
When using these adverbs, be careful not to place them between the object and
the verb. They often fit best after the sentence’s object or main verb.
If there is a preposition before the object, the adverb of manner may be placed
either before the preposition or after the sentence’s object.
Add emphasis by placing an adverb of manner before both the verb and object,
and when these adverbs are placed at the beginning of a sentence, they
catch the reader’s attention.
As you read the following examples of adverbs of manner, you will notice how the
same adverb can lend different meanings to sentences containing nearly the
exact same set of words.
We use adverbs of manner to describe how something happens.

For example: Prices rose rapidly.
Sales rose slightly.
39 | P a g e
Most adverbs of manner add -ly to the adjective.
sharp – sharply beautiful - beautifully
happy – happily sad – sadly
considerable – considerably tragic – tragically
If we want to amplify the quality an adjective describes we use an intensifying

adverb. These are some of the most common :
The presentation was really/very good.
She's dead certain to get the job.
The new design looks pretty good.
I was extremely surprised by her reaction.
She's a thoroughly efficient organizer.
The relative strength of adverbs is shown on this scale:

absolutely, altogether, awfully, completely, greatly, highly,
Strong
quite, terribly, totally, very
fairly, mildly, moderately, partly, quite, reasonably,
Moderate
somewhat
Weak a bit, a little, marginally, poorly, slightly
For example: The whole thing is quite amazing.
Note that quite also means fairly:

The restaurant is quite cheap but the food isn't wonderful.
The goods are reasonably cheap.
I was slightly surprised by what she said.
Intensifying adverbs modify adjectives that are gradable – that is, they can signify
degrees of a given quality. Adjectives that are not gradable or identify the particular
class that something belongs to are not normally used with intensifying adverbs. We
cannot say:
(Not a very unique idea)
(Not a fairly free gift)
(Not a very impossible solution)
40 | P a g e
(Not some slightly financial news)
However, you can use an adverb such as absolutely or utterly with an ungradable or
classifying adjective to show that you feel strongly:
It doesn't cost anything – it's absolutely free.
The task is utterly impossible.
(https://learnenglish.britishcouncil.org/en/english-grammar/certain-probable-or-
possible)
E. Let’s Talk
 Making an offer
How may I help you?
What kind of things can I do?
Would you like a ...?
Is there anything else I can help you with?
 Giving explanation
First, I’ll give you a brief overview of the product.
 Describing products and services

We call the (product/service) ...
Basically, (name of product/service) is ...
It’s already being used ...
It’s the result of ...
It’s a pretty simple concept.
There are (two) main benefits of (name of product/service).
The biggest potential benefit of (name of product/service) is ...
This means that ...
Another advantage is that ...
The other major advantage of (name of product/service) is ...
And this is another great thing about (name of product/service) ...
(Source: Business Result Upper Intermediate – Student’s Book page 27)
Task: Pick a product and prepare to present it to a potential group of customer.
41 | P a g e
F. Let’s Write
A simple sentence has only one clause:

The children were laughing.
John wanted a new bicycle.
All the girls are learning English.
Find and rewrite simple sentences in the text.

........................................................................................................................................
........................................................................................................................................
........................................................................................................................................
........................................................................................................................................
........................................................................................................................................
G. Useful Note
What is a clause?
A clause is a group of related words containing a subject and a

verb A clause can be usefully distinguished from a phrase, which is a group of related
words that does notcontain a subject-verb relationship, such as "in the morning" or
"running down the street" or "having grown used to this harassment." A review of the
different kinds of phrasesmight be helpful.
Words We Use to Talk about Clauses
Learning the various terms used to define and classify clauses can be a
vocabulary lesson in itself. This digital handout categorizes clauses
into independent and dependentclauses. This simply means that some clauses can
stand by themselves, as separate sentences, and some can't. Another term for
dependent clause is subordinate clause: this means that the clause is subordinate to
another element (the independent clause) and depends on that other element for its
meaning. The subordinate clause is created by a subordinating
conjunction or dependent word.
An independent clause, "She is older than her brother" (which could be its own
sentence), can be turned into a dependent or subordinate clause when the same group
of words begins with a dependent word (or a subordinating conjunction in this case):
"Because she is older than her brother, she tells him what to do."
Clauses are also classified as restrictive and nonrestrictive clauses. (The

words essential and nonessential are sometimes used and mean the same thing as
restrictive and nonrestrictive, respectively. British grammarians will make this same
distinction by referring to clauses with the terms defining and non-defining.) A
nonrestrictive clause is not essential to the meaning of the sentence; it can be
42 | P a g e
removed from the sentence without changing its basic meaning. Nonrestrictive
clauses are often set apart from the rest of the sentence by a comma or a pair of
commas (if it's in the middle of a sentence).
 Professor Villa, who used to be a secretary for the President, can type 132
words a minute.
Review the Notorious Confusable section on the difference between That and

Which for additional clarification on the distinction
between restrictive and nonrestrictive.
Relative clauses are dependent clauses introduced by a Relative

Pronoun (that, which, whichever, who, whoever, whom, whomever, whose, and of
which). Relative clauses can be either restrictive or nonrestrictive. Review the section
on Comma Usage for additional help in determining whether relative clauses are
restrictive or nonrestrictive (parenthetical or not) and whether commas should be
used to set them off from the rest of the sentence. In a relative clause, the relative
pronoun is the subject of the verb (remember that all clauses contain a subject-verb
relationship) and refers to (relates to) something preceding the clause.
 Giuseppe said that the plantar wart, which had been bothering him for
years, had to be removed.
(In this sentence, the clause in this color is a restrictive [essential] clause [a noun
clause — see below] and will not be set off by a comma; the underlined relative
clause [modifying "wart"] is nonrestrictive [nonessential — it can be removed from
the sentence without changing the meaning of the sentence] and is set off by
commas.)
Some relative clauses will refer to more than a single word in the preceding
text; they can modify an entire clause or even a series of clauses.
 Charlie didn't get the job in administration, which really surprised his

friends.
Charlie didn't get the job in administration, and he didn't even apply for the
Dean's position, which really surprised his friends.
A relative clause that refers to or modifies entire clauses in this manner is called
a sentential clause. Sometimes the "which" of a sentential clause will get tucked into
the clause as the determiner of a noun:
 Charlie might very well take a job as headmaster, in which case the school

might as well close down.
(Source: http://grammar.ccc.commnet.edu/grammar/clauses.htm)
43 | P a g e
Chapter VI
BANK MERGER TO FORM RI 10TH—LARGEST BANK
GOALS:

 To be able to talk in telephone
 To be able to identify adverbs of frequency
 To be able to write compound sentences
The five private banks which will be merged by the end of this year will
create one of the country's 10th-largest bank in terms of assets, according to
Chairman of the Indonesia Bank Restructuring Agency (IBRA), Syafruddin
Temenggung. He was quoted by Antara as saying on Thursday that the new bank
would focus its lending on retail loans including consumption loans and credit for
small and medium sized enterprises. He said that the bank would have a capital
adequacy ratio (CAP) of around 12 percents, which is higher than the minimum 8
percent level required by Bank Indonesia.
The relatively high CAR level should provide greater room for the new bank
to immediately fend its money to businesses. Revitalizing the intermediary role
of the banking sector is crucial to the acceleration of economic growth. The five
banks are Bank Bali, Bank Universal, Arthamedia, Bank Prima Express and Bank
Patriot., all of which have been under control of IBRA following the late 1990s
barking crisis which shook the industry to the core. The Angery which has a
mission to restructure the country's ailing banking industry, plans to merge weak
banks with the strong in order to avoid closure. Out of the five banks, only Bank
Bali has a CAR level of more than 8 percent.
Under the merger plan, which would be finalized this month, the four weak
banks would be merger into the stronger Bank Bali. The new entity will be named
Bank Bali. But the government via IBRA must inject some Rp. 4.6 trillion (USS 17
million) worth of funds into Bank Bali so that its capital condition would not
deteriorate as a result of absorbing the weaker banks. The legal merger is
expected to be completed at the end of this month, while the operational merger
will be completed at the end of this year.
The Rp. 4.5 trillion worth of funds will consist of Rp2.8 trillion cash and
44 | P a g e
Rp1.8 trillion in the form of bonds. The government bonds redeemed from
recapitalized banks. The government injected some Rp4.30 trillion worth of
bonds in the late 1990s to help finance the recapitalization of the several banks.
IBRA has managed to redeem some of the bonds by exchanging them with loan
assets under its control.
Meanwhile, Bank Indonesia senior deputy governor Anwar Nasution said

that the central bank had approved the bank merger plan. The merger step will
strengthen the financial structure of the banks, "he said. The new bank will have
some 7.000 staff. IBRA plans to lay off around 9.50 from the current combined
staff of the five banks of some 8,000. The agency is providing some Rp157 billion
worth of severance pay packages for the laid off employees.
1. What is the advantage of bank merger?

2. Mention the banks which will be merged!
3. How many staff will still have the job? How many will be laid off?
4. Why does the government via IBRA delay injecting capital?
5. What is the impact of the banks merger upon Bank Bali?
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
B. Vocabulary
 Merger (n): organizations to form one large one.

 To merge (v) (with) : to join together.
 Credit (v) : to add money to a bank account to believe that something is true.
45 | P a g e
 Fund (n) : an amount of money that is collected and kept for particular purpose.
 To inject (v): to improve something by adding excitement, interest to it.
 To control (v): to organize
 Around (prep): about, approximately.
 To structure (v) : to arrange the different parts of something into a pattern or
system in which each part is connected to the others.
 To staff (v): to provide the workers for an organization or the peopie who work
for an organization, especially a school or business.
Definition.
_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
_______________
inject structure merger CAR
fund staff controlled
1. The five banks will __________ to become one strong bank.

2. Bank Bali gets __________ from the government.
3. The government is going to __________ funds into the bank.
4. The new bank wants to have many__________
5. The five banks will be under-__________ of IBRA.
6. The bank would have __________ of around 12 percents.
7. The financial __________ can be stronger when the banks have merged.
46 | P a g e
Adverbs of Frequency
Each sentence contains an example of an adverb of frequency; the examples are
italicized for easy identification.
1. The incubator turns each egg hourly.

2. We take a vacation at least once annually.
3. I usually shop for groceries on Saturday mornings.
4. He is often late for work.
5. We seldom see John.
6. My dentist told me I should floss twice daily.
https://www.englishclub.com/grammar/parts-of-speech.htm
E. Let’s Talk
Telephoning
1. Hello/Good morning/Good afternoon. [Company name], [your name] speaking,

how may I help you?
2. [Company name], [your name] speaking.
3. Hello, this is [your name] from [company name].
4. Hi, it’s [your name] from [company name].
5. May I speak to [person’s name]?
6. I’d like to speak to [person’s name], please.
7. I’m calling to ask about/discuss/clarify…
8. I just wanted to ask…
9. Could you tell me…?
F. Let’s Write
Compound Sentences
47 | P a g e
A compound sentence contains at least two independent clauses. These two
independent clauses can be combined with a comma and a coordinating
conjunction or with a semicolon.
Key: independent clause = yellow, bold; comma or semicolon = pink, regular font;

coordinating conjunction = green, underlined
Here are a few examples:
 She completed her literature review, and she created her reference list.
 He organized his sources by theme; then, he updated his reference list.
 They studied APA rules for many hours, but they realized there was still much to
learn.
(Source:https://www.fluentu.com/english/)
G. Useful Note
Definition of Coordinating Conjunctions

Coordinating conjunctions join grammatically similar elements (two nouns, two verbs, two
modifiers, two independent clauses):
 and
 or
 nor
 so
 but
 for
 yet
How to punctuate coordinating conjunctions

When a coordinating conjunction joins two independent clauses, a comma is used before
the coordinating conjunction (unless the two independent clauses are very short).
Conjunctions that are not followed by non-essential elements should never be followed by
commas.
Perhaps no budget is without some fat, but university officials argue that their unique function requires special
standards of evaluation.
When either independent clause in a compound sentence contains a comma to set off
introductory or non-essential elements, a reader may be confused by a comma before a
coordinating conjunction. In this case, a semicolon may replace the comma.
48 | P a g e
The figures at elite universities, particularly, are enough to cause sticker shock; yet the current increases at many
schools are the lowest in a decade.
When NOT to punctuate coordinating conjunctions

If a sentence begins with a coordinating conjunction, it is not followed by a comma
Yet the typical tenured professor's salary of $43,500 still represents 10% less buying power than the equivalent
salary in 1970.
Commas are not used between two verbs, two subjects, two complements, or two objects
joined by a coordinating conjunction.
That confuses most analogies between universities and profit-making enterprises. [compound object of
preposition]
Endowments and gifts make up the rest. [compound subject]
Georgetown, for example, has eliminated one-third of its graduate programs in the past five years and recently
decided to close its dental school. [compound verb]
— All examples taken from "Facing Up to Sticker Shock," Time (April 20, 1987), 70.
(Source: https://writing.wisc.edu/Handbook/CoordConj.html)
I. Write the best conjunction to complete the sentences.
1. I like sugar in my tea, I don't like milk in it.

2. Listen to the story answer the questions in complete sentences.
3. Is it Thursday Friday today?
4. He was late the bus didn't come.
5. We were very tired happy after our flight to Sydney.
6. They climbed the mountain it was very windy.
7. Lenny was watching the planes his wife was reading in the car.
8. I'll text you I have arrived in Toronto.
9. Neither my brother my sister own a car.
10. The sun was warm, the wind was a bit too cool.
(Source: https://www.englisch-hilfen.de/en/exercises/word_order/conjunctions2.htm)
II. Choose the correct answer.
1 You can come to the meeting ______ you don't say anything.
49 | P a g e
so that
as long as
while
until
as if
2 I'm not leaving ______ I get an apology from you.
so that
as long as
while
until
as if
3 I came her ______ you could give me an explanation.
so that
as long as
while
until
as if
4 Bob is very tall ______ Bill is very short.
so that
as long as
50 | P a g e
while
until
as if
5 You look ______ you've seen a ghost.
so that
as long as
while
until
as if
6 I refuse to pay anything ______ you do the work properly.
so that
as long as
while
until
as if
7 I'm going shopping for food this evening ______ I don't have to go at the
weekend.
so that
as long as
while
51 | P a g e
until
as if
8 You look ______ you haven't eaten for a week.
so that
as long as
while
until
as if
9 I came early ______ I could talk to you privately.
so that
as long as
while
until
as if
10 ______ I don't think she's perfect for the job, she's certainly better qualified
than Steve.
so that
as long as
while
until
52 | P a g e
as if
11 I don't mind if you go out for lunch ______ you're back for the meeting at two.
so that
as long as
while
until
as if
12 Are you OK? You look ______ you have a problem.
so that
as long as
while
until
as if
13 ______ the job is very interesting, it's also very badly paid.
so that
as long as
while
until
as if
53 | P a g e
14 We'll go to the mountains on Saturday ______ it doesn't rain.
so that
as long as
while
until
as if
15 The winters here are very cold ______ the summers are very hot.
so that
as long as
while
until
as if
16 You can write the report when you want ______ it's ready by the end of the
month.
so that
as long as
while
until
as if
17 It looks ______ the government has got a lot of problems.
54 | P a g e
so that
as long as
while
until
as if
18 I want Mary to be in charge ______ I get back from holiday.
so that
as long as
while
until
as if
19 ______ I don't approve of what you did, I'm not going to punish you for it.
so that
as long as
while
until
as if
20 I'm learning English ______ I can get a better job.
so that
as long as
55 | P a g e
while
until
as if
(Source: http://www.better-english.com/grammar/conjunctions.htm)
Key answer No. I
1. I like sugar in my tea, but I don't like milk in it.
2. Listen to the story and answer the questions in complete sentences.
3. Is it Thursday or Friday today?
4. He was late because the bus didn't come.
5. We were very tired but happy after our flight to Sydney.
6. They climbed the mountain although it was very windy.
7. While Lenny was watching the planes his wife was reading in the car.
8. I'll text you after I have arrived in Toronto.
9. Neither my brother nor my sister own a car.
10. The sun was warm, yet the wind was a bit too cool.
Chapter VII
KEIDANREN DENIES REPORT OF BANK'S
NATIONALIZATION
GOALS:

 To be able to start a presentation
 To be able to use prepositions
 To be able to identify Linear Progression Theme-Rheme Pattern
56 | P a g e
Japan's most powerful industry association Thursday denied a report its
chairman had said one of the nation's four mega-banks would likely be
nationalized under tough new regime.
Hiroshi Okuda, chairman of the Japan Business Federation (Nippon

Keidanren), was misquoted by British newspaper The Times, the organization
said.
According to the major daily, Okuda, who is also chairman of leading

automaker Toyota Motor Corp., told British media in an interview that one of
Japan’s main banking groups would be nationalized next month.
The move would be precipitated by the 'symbolic’ bankruptcy of one of the

nation's 30 most indebted companies, it said.
The yen fell against the dollar on the story because it reminded investors
about the fragile condition of Japanese banks, which are struggling to off-load
bad loans, dealers said.
The Keindanren hastily denied the report.
‘There is absolutely no truth to chairman Okuda making those remarks,’ it

said in a statement.
‘It is extremely regrettable that such a report was made… we will protest
this matter to The Times and are asking for the story to be killed and corrected,’
the federation said.
By 4:00 pm (06;52 GMT), the dollar had risen to yen 120.63-67 compared
with yen 120.19-23 in New York and yen 119.62-71 in Tokyo late Wednesday on
Iraq's acceptance on arms inspections and Okuda's reported comments.
A dealer at Barclays Capital is Tokyo said the nationalization of a major bank

seemed improbable in a month's time, but 'you take in the headline…… and that
brings back the fact that Japan is in a dire situation.’
‘Asked to explain why the banking crunch could come as early as next
month, Mr. Okuda explained that the rigorous new credit assessment regime
could quickly drive one or more big borrowers into bankruptcy and this would
threaten their bank members,’ the report said.
Despite the nationalization claim being discredited, both The Times and a
second major British broadsheet, the Financial Times, said Okuda had signaled
the major banks were in trouble.
Of the four mega-lenders,’ two are very solid, but two are fragile, Okuda
57 | P a g e
was quoted as saying in both stories.
The two weak banks were considered to be Mizuho Holdings Inc. – the
world's biggest lender in terms of asserts – and UFJ Holdings Inc., the papers said.
Mitsubishi Tokyo Financial Groups and Sumitomo Mitsui Banking Corp. are
still considered to be a relatively good shape.
Tough new measures proposed at the end of October by financial Services

and Economic Policy Minister Heizo Takenaka to halve the ratio of bad loans at
banks by March 2005 would put intense pressure on the lenders, the papers said.
Source: The Jakarta Post, Nov.15. 2002
1. What problems did the Japan's industry face? How did they solve them?
2. Why would Japan's main banking groups be nationalized?
3. Why did the nationalization of major bank seem improbable in a month's time?
4. What did the Economic Policy Minister do to solve the problems?
5. Why could the banking crunch come as early as next month?
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
B. Vocabulary
 Debt (n) : (i) any money owed (ii) money borrowed by a company to finance its
activities.
58 | P a g e
 Profit (n): money gained from a sale which is more than the money spent.
 Investor (n) : person who invests money.
 Cost (n): amount of money which has to be paid for something.
 Bankruptcy (n): state of being bankrupt.
 Company (n): business, a group of people organized to trade in goods and services
for profit.
 Credit (n): amount entered in accounts to show a decrease in assets or expenses or
an increase in liabilities, revenue or capital.
 Interest (n): payment made by a borrower for the use of money, calculated as a
percentage of the capital borrowed.
 Lenders (n): persons who lend money.
 Liquidate (v): (a company) to close a company and sell its assets. (a debt) to pay a
debt in full; (a stock) to sell stock to raise cash.
Definition.
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_______________
investors profit cost
interest liquidates
1. Production ____________ increases so that the company has to increase its

product's price.
2. To attract more customers banks compete to lower their ____________ rate.
3. A part of the company's ____________ rate is distributed to the shareholders as
dividend.
4. Before investing their fund in a company, ____________ will examine its
financial condition of the company.
59 | P a g e
5. In this economic recession, government ____________ many companies.
Prepositions
Prepositions are used in many different ways in English - perhaps that's why a
lot of people have problems with them.
First, they are used with time words:
 on Monday
 in the 20th century
 at night
Second, they are used to show where something or someone is:
 The plate is on the table.

 Julie is in the garden.
 The picture is on the wall.
Third, they are used after some adjectives:
 She is good at tennis.
 Scotland is famous for whisky
 I'm worried about my new job.
Fourth, they are used after some verbs:
 I'm listening to music.
 She is waiting for her friend.
 He borrows money from his sister.
Fifth, they are used after some nouns:
 She has trouble with remembering new vocabulary.
Finally, they are used in certain phrases:
 The bus arrived in the end.

 She arrived just in time for the film.
60 | P a g e
(https://www.perfect-english-grammar.com/prepositions.html)
E. Let’s Talk
Study the expressions below and label them into opening, main part and
closing of a presentation.
* Good afternoon ladies and gentlemen.
* Good afternoon everyone. Shall we begin?
* Ladies and gentlemen. Good morning. It's a pleasure to be here with
you today.
* Good afternoon. If everybody's ready, I think we can begin now.
* Let me introduce myself first. I'm Robert Vincent.
* I'd like to introduce myself. I'm Pierre Dupont from Dazzi Engineering.
* Before I begin, let me tell you a little about myself. I'm ...
* I'm with the CNRS—the French National Center for Scientific Research—
in the Department of Solid State Physics.
* I work for Schneider Electric in the xxx department. Schneider is a
world leader in the development and manufacture of ...
* Dazzi Engineering is a small but fast-growing company in Grenoble, in

the
heart of the French Alps. Our main activities are in the field of waste
management. You may be familiar with some of the techniques

we'vedeveloped for plastics recycling.
* I'm a research engineer with Electricité de France or EDF. EDF is the
leading company for the production and distribution of electricity in
France and throughout Europe.
My purpose today is to give a detailed analysis of the role of government in
Japanese industry.
My talk today will deal primarily with the ethical considerations in genetic
engineering.
61 | P a g e
I've been invited here this morning to describe some of the recent developments
in nuclear safety technology.
Now that we have seen whatcauses acid rain, let's look atsome of its effects on our forests.
Before going on to the next partwhich deals with environment-related cancers, I'd like to
stressonce again the fact that it isextremely difficult to pinpoint
one specific cause for any cancer.
To sum up then, we'veexamined the evolution of theozone hole since it was firstdiscovered in
1978. We've alsoanalyzed the mechanics of thedestruction of ozone. I'd nowlike to focus on
the role of CFCs.
To conclude then, we have seen the types of industries that produce the
pollutants that cause acid rain - notably heavy industry or power plants
dependent on sulfur-loaded coal. We also discussed the non-negligible role of
domestic heating. The examples of eastern Canada or Sweden reminded us that
the effects of acid rain are often felt miles from its source. By analyzing the
mechanics involved, we realized that millions of acres of apparently healthy
forests are already in the first stages of destruction. And the devastation of
forests in Germany gave us a preview of what may lie ahead in many more areasif nothing is
done.
I think you'll all agree then that we cannot rest on past achievements.
The infant mortality rate can and must decrease even more.
Thank you for being such an attentive audience.
(Source: http://step.inpg.fr/GB/docs/Language_of_presentation_v7.pdf)
F. Let’s Write
Read the sentences below.
1. Japan's largest banks have buoyed earnings with high-interest cash advances over
the last few years, but these loans are starting to take a toll as irrecoverable debt
piles up.
Bad debt tied to the advances climbed 13% to a six-year high of roughly 140 billion yen
($1.27 billion) in fiscal 2017.
62 | P a g e
2. Banks issue cash advances, known as card loans in Japan, to
individuals at annual interest rates of 2% to 14%. The money is often able to be
withdrawn from ATMs without collateral or specifying how it will be used.
You may see that the bold words in the first sentence appear again in the second
sentence. The function is to maintain the coherence and cohesion of the ideas in writing.
A theory talks about theme and rheme. Here is a quotation about theme and rheme.
‘The notion of theme and rheme have been extensively dealt with in linguistics
during these last decades. The two main approaches to the organization of the
sentence into two parts, the ‘Theme’ and the ‘Rheme’. Theme as starting point and
Theme as aboutness. Both approaches theorize that each sentence contains one
element which is more important or central to the discourse and which is called
Theme, and another element which develops the Theme, and which is called
Rheme. What is different is that the first approach always considers the Theme to
be the starting point of the utterance, whereas the second one sees it as aboutness
and relates it to the subject of the sentence.’
Theme is also named as the information which has been mentioned previously,
while Rheme is new information. There are several theme-rheme patterns which
may appear in writing. They are Linear Progression, Progression with constant
Theme, Progression with derived Theme. In Linear Progression, the rheme of a
sentence becomes the theme of the immediately succeeding sentence.The pattern
can be described below.
Example:
Chocolate candy contains sugar, plus the naturally occurring
stimulants caffeine and theobromine. The sugar and the stimulants can
give you an emotional as well as a physical lift.
You may see that the theme of the first sentence is chocolate candy and the rheme is
sugar, plus…… The second sentence starts with the sugar and the stimulants which is
the rheme of the first sentence. The example from the passage which follows the
pattern is sentence example No. 2. where’ the theme ‘cash advances’ is repeated in the
second sentence using the words ‘the money’.
Now, from the passage, let’s find another sentence using the pattern of Linear
Progression, and write them down.
…………………………………………………………………………………………………………………………………………
…………………………………………………………………………………………………………………………………………
…………………………………………………………………………………………………………………………………………
…………………………………………………………………………………………………………………………………………
63 | P a g e
…………………………………………………………………………………………………………………………………………
…………………………………………………………………………………………………………………………………………
G. Useful Note
ADVERBS OF TIME
Adverbs that tell us when are usually placed at the end of the sentence.
EXAMPLES
 Goldilocks went to the Bears' house yesterday.
 I'm going to tidy my room tomorrow.
 I saw Sally today.
 I will call you later.
 I have to leave now.
 I saw that movie last year.
Putting an adverb that tells us when at the end of a sentence is a neutral position, but these
adverbs can be put in other positions to give a different emphasis. All adverbs that tell us
when can be placed at the beginning of the sentence to emphasize the time element. Some
can also be put before the main verb in formal writing, while others cannot occupy that
position.
EXAMPLES
 Later Goldilocks ate some porridge. (the time is important)
 Goldilocks later ate some porridge. (this is more formal, like a policeman's report)
 Goldilocks ate some porridge later. (this is neutral, no particular emphasis)
Adverbs that tell us for how long are also usually placed at the end of the sentence.
EXAMPLES
 She stayed in the Bears' house all day.
 My mother lived in France for a year.
 I have been going to this school since 1996.
In these adverbial phrases that tell us for how long, for is always followed by an expression of
duration, while since is always followed by an expression of a point in time.
64 | P a g e
EXAMPLES
 I stayed in Switzerland for three days.
 I am going on vacation for a week.
 I have been riding horses for several years.
 The French monarchy lasted for several centuries.
 I have not seen you since Monday.
 Jim has been working here since 1997.
 There has not been a more exciting discovery since last century.
Adverbs that tell us how often express the frequency of an action. They are usually placed
before the main verb but after auxiliary verbs (such as be, have, may, & must). The only
exception is when the main verb is "to be", in which case the adverb goes after the main verb.
EXAMPLES
 I often eat vegetarian food.
 He never drinks milk.
 You must always fasten your seat belt.
 I am seldom late.
 He rarely lies.
Many adverbs that express frequency can also be placed at either the beginning or the end of
the sentence, although some cannot be. When they are placed in these alternate positions,
the meaning of the adverb is much stronger.
Adverb that can be Stronger position Weaker position

used in two positions
frequently I visit France frequently. I frequently visit France.
generally Generally, I don't like spicy foods. I generally don't like

spicy foods.
normally I listen to classical music normally. I normally listen to

classical music.
occasionally I go to the opera occasionally. I occasionally go to the

opera.
65 | P a g e
Adverb that can be Stronger position Weaker position
used in two positions
often Often, I jog in the morning. I often jog in the

morning.
regularly I come to this museum regularly. I regularly come to this

museum.
sometimes I get up very early sometimes. I sometimes get up very

early.
usually I enjoy being with children usually. I usually enjoy being

with children.
(Source: https://www.ef.com/english-resources/english-grammar/adverbs-time/)
66 | P a g e

English For Business Banking Finance Accounting

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

English For Business Banking Finance Accounting

Uploaded by

Copyright:

Available Formats

Chapter I

BAD DEBT FROM CASH ADVANCES PILES UP

 To be able to understand terms in business

TOKYO—Japan’s largest banks have buoyed earnings with high-interest cash

Banks issue cash advances, known as card loans in Japan, to

Write Five Additional Questions for Discussion.

Write Five Other Vocabularies.

largest earning irrecoverable

1. Bank Mandiri is one of the __________ banks in Indonesia.

How do we read 2017?

How do we read 13%?

Let’s discuss and practice numbers.

How do we write cardinal and ordinal numbers in figure and in words?

Convert 1-1/3 to an improper fraction:

 It’s nice to meet you or Pleased to meet you

 It’s an honor to meet you

Look at the sentence below.

Japan's three megabanks often carry nonbank institutions like guarantee

The bold words are categorized as nouns.

Countable Nouns and Uncountable Nouns

 They say that eating beef is bad for you.

Not all pronouns will refer to an antecedent, however.

 Everyone here earns over a thousand dollars a day.

The word "everyone" has no antecedent.

Personal pronouns can also be characterized or distinguished by person. First

When a personal pronoun is connected by a conjunction to another noun or

... (continued from Chapter I)

Japan's three megabanks often carry nonbank institutions like guarantee

Source: Nikkei Asian Review, written by Tomomi Mitobe

1) How many megabanks are mentioned in the text?

Write Five Additional Questions for Discussion.

C. Complete The Sentences Using The Words Provided

Stake Income Books Interest Subsidiary

1. What company is the...............of Astra Motor Company?

2. We need to review our sales as our annual...........gets worse.

3. Let’s compare the ............rates several banks offer us.

5. What can we learn from this year consolidated...........?

If a group of words containing a subject and verb acts as an adjective, it is called

Look at the passage and let’s practice the noun phrases.

 Introducing other people

 Saying what you do

A sentence usually has a subject. A subject is a word which describes action.

Rewrite the subject of each clause or sentence above.

Unlike Adverbs, which often seem capable of popping up almost anywhere in a

Anyone capable of doing something horrible to someone nice

The president elect, heir apparent to the Glitzy fortune, lives in

1. I was exhausted, so I drank a double espresso. Now I’m _____ awake.

2. I wasn’t expecting much of a raise, so I was ______ surprised when I got a

a. Welcomely b. Happily c. Cheerfully d. Pleasantly

3. We should hold ourselves to _____ standards. We shouldn’t be satisfied with these

a. High b. Large c. Big d. great

a. Harsh b. Heated c. Strong d. angry

a. Usual b. Routine c. Consistent d. regular

a. deep b. great c. heavy d. serious

8. I wouldn’t do that if I were you. You’re making a _____ mistake.

a. huge b. great c. massive d. big

a. great b. complete c. high d. thorough

a. soft b. weak c. slight d. mild

a. weak b. light c. slight d. mild

14. Do we have any idea what the _____ cause is of this issue?

18. Big Datas a _____ topic right now in the IT field.

a. hot b. popular c. sensational d. favorable

19. This research is too general. What we need is more _____ information.