Basic interpretation and linguistic terms used in previous topics

translation	переклад взагалі; письмовий переклад зокрема
interpretation (the generic term for oral translation, used to describe the product of interpreter's activity)	усний переклад, тлумачення (цей англійський термін вико-ристовується для визначення усного перекладу як різновиду перекладу взагалі та результату діяльності усного перекладача)
interpreting (the process by which an interpretation is produced, understood as the activity of the interpreter)	усний переклад, тлумачення (цей англійський термін використовується для визначен-ня усного перекладу як процесу перекладацької діяльності)
target language (TL)	мова перекладу
source language (SL)	мова джерела, мова оригіналу
speech message	мовленнєве повідомлення
interlingual	міжмовний
cross-cultural	міжкультурний
sense	зміст
meaning	значення
sender	відправник (повідомлення)
recipient (receiver, addressee)	одержувач (повідомлення), реципієнт
subject field	предметна галузь
consecutive interpretation/interpreting	послідовний переклад
simultaneous interpretation/ interpreting	синхронний переклад
whispered interpretation/in­terpreting	перекпад-нашіптування
(simultaneous) interpretation booth	кабіна для синхронного перекладу
language combination	мовна комбінація
working language	робоча мова
active language	активна мова
passive language	пасивна мова
to perceive the message	сприйняти повідомлення
to understand the message	зрозуміти повідомлення
anticipation	імовірнісне прогнозування
professional etiquette	професійний етикет
professional ethics	професійна етика
moral code	моральний кодекс
invariant	інваріант

Questions for discussion:

1. What are the characteristics of two modes the translation is performed in?

2. What are the specific skills required for interpreting?

3. What kind of translation is considered a special one?

4. Speak on professional ethics and moral code of interpreters.

Practical assignments

Give written translation of the following text:

Big agribusiness draws cash

The global growth in foodstuff prices put revitalized investing into agriculture. Increase of activity of Ukrainian agro-holdings on the international capital market in 2010 has brought a good yield – the companies managed to attract over one billion dollars on aggregate.

The large companies in the agrarian sector that proved their economic stability in the times of the crisis were the first to gain access to international stock and borrowing market. Of the large placements, IPO (Initial publis offering – первинне розміщення акцій на фондовому ринку) of the Avangard Agroholding owned by entrepreneur Oleh Bakhmatyuk can be singled out. In spring, 22.3% stake of this enterprise was estimated by investors at US $216 mn at London Stock Exchange. By mid-autumn, Avangard attracted another US $200 mn placing its Eurobonds at 10.5% annual interest rate. Myronivskiy Khliboprodukt owned by Yuriy Kosyuk issued Eurobonds with 10.25% profitability for the total amount of US 5330 mn.

Kernel Group of Andriy Verevskiy is also displaying high activity in attracting foreign capital: directing US $82 mn from sale of 6.25% of its shares for acquisition of a competitor – Allseeds Group, the company is now preparing for placement of Eurobonds for US$200 mn.

In addition to that, just last month Agroton of Luhansk entrepreneur Yuriy Zhuravlev made an IPO on the main floor of Warsaw Stock Exchange receiving US $54 mn for 26.2% shares.

According to assessments of Concorde Capital, the Ukrainian agro-industrial sector managed to attract over US $1 bn, taking into account all IPOs and private placements, issuance of bonds and also loans from large financial institutions, including European Bank for Reconstruction and Development and International Finance Corporation.

The reasoning of the holding owners is very clear. “The key reason is relative cheapness of foreign capital. Inside the country, it is difficult to attract a large amount of money (tens or hundreds millions of dollars) for a long term and at a suitable interest rate,” notes Andriy Yastreb, an analyst at Phoenix Capital. The other reason is grown trust of foreign investors towards Ukrainian companies due to relative stabilization of political situation in Ukraine.

It must be emphasized, however, that the interest is mutual. Director of investment and banking management company Renaissance Capital Ukraine Serhiy Alekseyenko says that the companies of Ukrainian agrarian sector remain extremely attractive both for portfolio and strategic investors. Compared with other industries, they have several advantages. First of all, agricultural products, a large part of which is being exported abroad (grain, sunseed oil, rapeseed) enjoys stable demand on the world market. After a dive in 2008-2009, the prices for foodstuffs are climbing convincingly all around the world. Investors want to invest into the so-called real assets, agrarian sector being a part of them. According to assessments of leading economists, it will play a serious role on the world market on the whole in the next 10-15 years (taking into account the growth of consumption of food products and development of bio-energy sphere). Secondly, agrarian sector is nearly the only one in Ukraine that continues to show growth. In the first half of the year, agricultural enterprises stably increased their output volumes by 6-7% per month. However, by the result of ten months the growth slowed down to 0.1% due to export limitations. In essence, agrarian and food companies for Ukraine are the same litmus paper as gas and oil companies for Russia on the international market.

The third reason is a large potential of Ukrainian land. Application of new technologies can double the yield of grain crops without increase of sowing land up to 60-70 mn t of grain per year. By the way, in the efficiency of rapeseed production, Ukraine is even ahead of Europe. Meanwhile, the expenses for growing grain crops of effective agroholdings operating in our country could lie lower (US $250/t) than, for example, in the U.S. – US $300/t or Argentina – US $320/t.

On the whole, the efficiency of operation of agricultural enterprises and holdings, depending on the area of business, region and scale, is within the average range from 40% to 70% from the optimal level. This means that there is space for its further growth.

Vice president for corporate financing of BG Capital Yevhen Chervyachenko confirms growing demand on the part of foreign investors for vertically-integrated agro-holdings that combine growing, processing and sale for export. Companies specializing only on growing or sale of ag products and do not have access to foreign market are not interesting. That is why the agrarians try to build the maximum closed production cycle – “from field to dinner table”.

The president of Ukrainian Club of Agrarian Business Alex Lissitsa says that the companies that survived the crisis became more understandable for foreign investors. “The majority of companies that came out on the world capital market are showing serious and transparent strategy of development for the next several years. This convinces investors that such assets can bring them quite sizeable additional profit in the future” explains Lissitsa.

Ivan Panin, analyst at Sokrat says that agricultural enterprises come out on the foreign capital markets in order to attract funds with the objective to direct them at expansion of their activity, namely increasing the size of the land, building grain storages, purchasing of agrarian machinery, etc. This is not surprising since the owners of agro-holdings, besides development of their business, have to take into account interests of international investors. The latter, as practice shows, are more willing to invest into agrarian companies with capitalization of US $500 mn, rather than companies with capitalization of US S50 mn.

Such approach forced agro-holdings to expand with merger of businesses by related owners becoming the main trend of the past year. In particular, brothers Serhiy and Oleksandr Fedorenko did just that with OJSC Sugar Union UkrRos concentrating the controlling package in UkrRosZerno. West-Ukrainian entrepreneurs Danylo and Mykhailo Korylkevych merged Dakor and Land West Company into Dakor Agro Holding.

Closer to the end of 2010, Ukrainian companies again started speaking about intentions to expand their land areas. Analysts are convinced that this increase won’t be speculative this time like was the case in the pre-crisis 2006-2008. On the one hand, the size of the land area is a key indicator of an agro-holding, because the profit of the company and the company’s share on the market directly depend on it. On the other hand, investors are no longer impressed with figures that include two zeros; they want to know the efficiency of management of the land area. Operational and financial indicators are assessed based on how many thousand hectares of the leased land the company really processes and the profit it receives from it. Lissitsa says that the criteria of assessment of potentially interesting assets have toughened considerably: the financial well-being of the borrower and issuer is now assessed much more thoroughly than in the past. For example, during the road shows, potential investors even ask which seeds and machinery the companies use.

Agrarian sector is nearly the only one in Ukraine that continues to show growth. Use of new technologies can help doubling the yield of grain crops without an increase of sowing lands.

Practise two-way interpretation of the text in English and Ukrainian:

Green Peace: Remove Toxic Waste The international environment organization «Green Peace» has requested the French government to remove immediately highly toxic waste of French origin from Russia's territory. A hazardous load of about 1000 tons was dispatched to Russia in 1994 under the guise of cobalt-nickel slurry for reprocessing. As early as last March Green Peace demanded that the French government take measures to remove its toxic waste from Russia. However, the load is still in Russia, stored in unsuitable premises in St.Petersburg.	Грінпіс вимагає вивезти токсичні відходи Міжнародна екологічна організа-ція «Грінпіс» звернулася до уряду Франції з вимогою негайно вивезти з російської території високо-токсичні відходи французьких підприємств. Небезпечний вантаж - близько 1000 тон - був відправле-ний до Росії в 1994 році під виглядом кобальто-нікелевого шламу для переробки. Ще у березні минулого року «Грінпіс» зажадав від уряду Франції вжити заходів щодо вивезення токсичних відходів з Росії. Проте зараз токсичний вантаж як і раніше знаходиться в Росії у непристосованих для його зберігання сховищах Санкт-Петербурга.
Stolen Jewels Returned ... Eventually On Thursday the Thai police found more than 30 items of jewelry, thought to be some of the twenty million dollars' worth stolen from the Royal Palace in Saudi Arabia five years ago by a Thai gardener, who then returned to Thailand where he was arrested. The authorities sent back what had been stolen, but the Saudis complained that most of the items were fake and that 70% of the jewels were still missing. Three representatives at the Saudi embassy in Thailand, together with the dealer's wife and son were all killed, their deaths being attributed to the matter of the stolen treasures. Following an announcement from the Thai police that their anonymous return would be accepted, the jewels began to reappear. But the whole scandalous episode did serious damage to relations between Riyadh and Bangkok.	Повернення вкрадених скарбів Поліція Таїланду виявила в четвер більш ніж 30 ювелірних виробів, які, як вважають, є частиною коштовностей вартістю 20 мільйонів доларів, вкрадених з королівського палацу в Саудівській Аравії. П'ять років тому тайський садівник викрав цінності та повернувся до Таїланду, де його заарештували. Влада відіслала викрадене назад в Ер-Ріяд, але звідти поступила скарга, що більшість виробів виявилися фальшивими і що бракує 70 відсотків цінностей. У Таїланді були вбиті три представники саудівського посольства, а також дружина й син торговця ювелірними виробами, що зв'язують із справою про вкрадені скарби. Цінності почали передавати тайській поліції після того, як вона повідомила публічно, що повертати їх можна анонімно. Скандал з королівськими цінностями серйоз-но ускладнив стосунки Ер-Ріяда та Бангкока.
Disobedient Trousers as Proof of Guilt Jay Mitchell, 27, succeeded in robbing a jewelry shop in the old town area of Albuquerque, New Mexico. However, when he was rushing into the street, his trousers fell down due to some totally incomprehensible reason. Jay got tangled up in his trousers; stumbled, dropped his gun, and lost some of the money. Still he managed to get up, jump into the car he had stolen and dash off. An hour later, a woman, who lives next door to Mitchell, reported the loss of the gun which happened to be precisely the one later found near the shop. When the police arrived at the house from where the gun had been stolen they saw a car nearby with Mitchell calmly sitting in it. They detained him just in case. As he was being taken to the police car, his trousers suddenly fell down again. The detectives compared this fact with the accounts of people who had witnessed the robbery, checked the fingerprints on the gun and at the scene of the crime, and thus found Mitchell guilty beyond doubt.	«Неслухняні брюки» як доказ провини 27-літній Джей Мічел вдало пограбував ювелірний магазин в районі Олд-Таун в місті Альбукерк (штат Нью Мексико). Але коли він вибігав на вулицю, з абсолютно незрозумілої причини з нього звалилися брюки. Джей заплутався, спіткнувся, впустив пістолет і втратив частину грошей. Проте йому все ж вдалося швидко піднятися, Джей стрибнув у вкрадений автомобіль і помчав геть. Через годину сусідка Мічела по будинку заявила про зникнення пістолета. Як з'ясувалося, саме того, який знайшли потім поряд з магазином. Прибувши для розслідування до будинку, де пропав пістолет, поліцейські побачили поблизу автомобіль, в якому спокійно сидів Мічел. Про всяк випадок його затримали. Коли хлопця вели до поліцейської машини, з нього раптом знову звалилися брюки. Зіставивши цей факт з оповіданнями очевидців, звірив-ши відбитки пальців на зброї та місці злочину, детективи встановили безперечну провину Мічела.