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Base Amount
Base amount or base value (also basic amount, or basic value, or base rate) ( be, базавая велічыня, russian: базовая величина; commonly abbreviated as ''БВ'' or ''б. в.'') is sort of notional amount used in Belarus to keep amount of pensions, scholarships, social welfare payments, duties, taxes, and fines in the text of laws stable and relevant regardless of the level of inflation. Base amount ( pl, kwota bazowa) is also used in Poland to keep pensions on a stable level, regardless of inflation. A similar measure, income base amount ( sv, inkomstbasbelopp), is used in Sweden. History Until 2002, fines, taxes, fees and other payments in Belarus were calculated in multiples up to the minimum wage. In accordance with the Presidential Decree № 3 of 15.02.2002, the minimum wage is used only in labor relations. According to the Resolution of the Council of Ministers of 22.02.2002 № 243 for the calculation of fines, taxes, fees and othe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Notional Amount
The notional amount (or notional principal amount or notional value) on a financial instrument is the nominal or face amount that is used to calculate payments made on that instrument. This amount generally does not change and is thus referred to as ''notional.'' Explanation Contrast a bond with an interest rate swap: * In a bond, the buyer pays the principal amount at issue (start), then receives coupons (computed off this principal) over the life of the bond, then receives the principal back at maturity (end). * In a swap, no principal changes hands at inception (start) or expiry (end), and in the meantime, interest payments are computed based on a notional amount, which acts ''as if'' it were the principal amount of a bond, hence the term ''notional principal amount'', abbreviated to ''notional''. In simple terms, the notional principal amount is essentially how much of an asset or bonds a person owns. For example, if a premium bond were bought for £1, then the notional princip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension
A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan", where a fixed sum is paid regularly to a person, or a "defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "retirement plan" and "superannuation" tend to refer to a pension granted upon retirement of the individual. Retirement plans may be set up by employers, insurance companies, the government, or other institutions such as employer associations or trade unions. Called ''retirement plans' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scholarship
A scholarship is a form of financial aid awarded to students for further education. Generally, scholarships are awarded based on a set of criteria such as academic merit, diversity and inclusion, athletic skill, and financial need. Scholarship criteria usually reflect the values and goals of the donor of the award, and while scholarship recipients are not required to repay scholarships, the awards may require that the recipient continue to meet certain requirements during their period of support, such maintaining a minimum grade point average or engaging in a certain activity (e.g., playing on a school sports team for athletic scholarship holders). Scholarships also range in generosity; some range from covering partial tuition ranging all the way to a 'full-ride', covering all tuition, accommodation, housing and others. Some prestigious, highly competitive scholarships are well-known even outside the academic community, such as Fulbright Scholarship and the Rhodes Scholar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Welfare
Welfare, or commonly social welfare, is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter. Social security may either be synonymous with welfare, or refer specifically to social insurance programs which provide support only to those who have previously contributed (e.g. most pension systems), as opposed to ''social assistance'' programs which provide support on the basis of need alone (e.g. most disability benefits). The International Labour Organization defines social security as covering support for those in old age, support for the maintenance of children, medical treatment, parental and sick leave, unemployment and disability benefits, and support for sufferers of occupational injury. More broadly, welfare may also encompass efforts to provide a basic level of well-being through free or subsidized ''social services'' such as healthcare, education, infrastructure, vocational training, and publi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tariff
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. ''Protective tariffs'' are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade. Tariffs can be fixed (a constant sum per unit of imported goods or a percentage of the price) or variable (the amount varies according to the price). Taxing imports means people are less likely to buy them as they become more expensive. The intention is that they buy local products instead, boosting their country's economy. Tariffs therefore provide an incentive to develop production and replace imports with domestic products. Tariffs are meant to reduce pressure from foreign competition and reduce th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fine (penalty)
A fine or mulct (the latter synonym typically used in civil law) is a penalty of money that a court of law or other authority decides has to be paid as punishment for a crime or other offense. The amount of a fine can be determined case by case, but it is often announced in advance. The most usual use of the term is for financial punishments for the commission of crimes, especially minor crimes, or as the settlement of a claim. One common example of a fine is money paid for violations of traffic laws. Currently in English common law, relatively small fines are used either in place of or alongside community service orders for low-level criminal offences. Larger fines are also given independently or alongside shorter prison sentences when the judge or magistrate considers a considerable amount of retribution is necessary, but there is unlikely to be significant danger to the public. For instance, fraud is often punished by very large fines since fraudsters are typically ban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. As prices do not all increase at the same rate, the consumer price index (CPI) is often used for this purpose. The employment cost index is also used for wages in the United States. Most economists agree that high levels of inflation as well as hyperinflation—which have severely disruptive effects on the real economy—are caused by persistent excessive growth in the money supply. Views on low to moderate rates of inflation are more varied. Low or moderate inflation may be attri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minimum Wage
A minimum wage is the lowest remuneration that employers can legally pay their employees—the price floor below which employees may not sell their labor. Most countries had introduced minimum wage legislation by the end of the 20th century. Because minimum wages increase the cost of labor, companies often try to avoid minimum wage laws by using gig workers, by moving labor to locations with lower or nonexistent minimum wages, or by automating job functions. The movement for minimum wages was first motivated as a way to stop the exploitation of workers in sweatshops, by employers who were thought to have unfair bargaining power over them. Over time, minimum wages came to be seen as a way to help lower-income families. Modern national laws enforcing compulsory union membership which prescribed minimum wages for their members were first passed in New Zealand in 1894. Although minimum wage laws are now in effect in many jurisdictions, differences of opinion exist about the benefit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labor Relations
Labor relations is a field of study that can have different meanings depending on the context in which it is used. In an international context, it is a subfield of labor history that studies the human relations with regard to work in its broadest sense and how this connects to questions of social inequality. It explicitly encompasses unregulated, historical, and non-Western forms of labor. Here, labor relations define "for or with whom one works and under what rules. These rules (implicit or explicit, written or unwritten) determine the type of work, type and amount of remuneration, working hours, degrees of physical and psychological strain, as well as the degree of freedom and autonomy associated with the work." More specifically in a North American and strictly modern context, labor relations is the study and practice of managing unionized employment situations. In academia, labor relations is frequently a sub-area within industrial relations, though scholars from many discipline ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2011 Minsk Metro Bombing
The 2011 Minsk Metro bombing took place on 11 April 2011 when 15 people were killed and 204 were injured when a bomb exploded within the Minsk Metro, Belarus. The explosion happened at the central Kastryčnickaja (Minsk Metro), Kastryčnickaja station at 17:55 local time. Initially the cause of the explosion was unclear, but was found to have been a bomb."Belarus arrests several over Minsk metro bomb blast" , BBC News, 12 April 2011 The Prosecution Office launched a criminal investigation and classified the event as a terrorist attack. Two suspects arrested on 13 April confessed to the bombing but the motives remained unclear. In March 2012, both perpetrators, Dzmitry Kanavalau and Uladzislau Kavalyou, were Execution by shooting, executed by shooting. There has been considerable debate a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Belarusian Ruble
The ruble ( be, рубель ''rubeĺ’''; Currency symbol, Abbreviation: Rbl (plural: Rbls); ISO 4217, ISO code: BYN) is the currency of Belarus. It is also known as the rubel, or in Commonwealth English as the rouble. The ruble is subdivided into 100 Kopeck, copecks (sometimes written as ''kopecks''; be, капейка ''kapeyka''). History First ruble, 1992–2000 As a result of the breakup of the supply chain in the former Soviet Union, Soviet Enterprises in the Soviet Union, enterprises, goods started to be bought and sold in the Market (economics), market, often requiring Cash, cash settlement. The Belarusian unit of the Gosbank, USSR State Bank had neither the capacity nor the licence to print Soviet banknotes, so the government decided to introduce its own national currency to ease the cash situation. The German word ''Thaler'' ( be, талер), divided into 100 ''Groschen'' ( be, грош) was suggested as the name for a Belarusian currency, but the Communist majority ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Bank Of The Republic Of Belarus
The National Bank of the Republic of Belarus (NBRB; be, Нацыянальны банк Рэспублікі Беларусь; rus, Национальный банк Республики Беларусь) is the central bank of Belarus, located in Minsk. The bank was created in 1922 under the name of "Belarusian Republican Bank" by the Soviet of People's Commissars of Byelorussia, but soon worked under the direction of the State Bank of the USSR. Undergoing reorganizations in 1959 and 1987, the bank appeared in its current form in 1990 after the passage of banking rules upon declaring independence from the Soviet Union. History By the decree of the Council of People's Commissars of the BSSR of December 3, 1921, the Byelorussian office of the State Bank of the RSFSR was established under the People's Commissariat of Finance of the Byelorussian SSR. The office began its activity on January 3, 1922. A year later, immediately after the establishment of the State Bank of the USSR ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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