The Romanian Municipal Bond Market and the International Financial Crisis

In Romania, the bond market was set up later, comparatively to the equity market. This market is in a development process, but the international financial crisis has affected even the interest of investors in bonds. The secondary municipal bond market is not a very liquid market because these securities are bought from the primary market and held in portfolios by investors because these bonds have a low risk. The issue of these bonds is correlated with the financial independence and the level of decentralization of the local public authorities. The issuance of these bonds is correlated with financial independence and decentralization level specific to local public authorities. Under crisis conditions, the volatility of this market is more significant, the increasing deficits of local budgets decreasing the interest of the middle-class in investing in such financial instruments.bonds, crisis, stock exchange, municipalities

Holomorphic vector bundles on primary Kodaira surfaces

It is in general unknown which topological complex vector bundles on a non-algebraic surface admit holomorphic structures. We solve this problem for primary Kodaira surfaces by using results of Kani on curves of genus two with elliptic differentials. Some of the corresponding moduli spaces will be smooth compact and holomorphically symplectic.Comment: 10 pages, late

The Romanian Municipal Bond Market and the International Financial Crisis

In Romania, the bond market was set up later, comparatively to the equity market. This market is in a development process, but the international financial crisis has affected even the interest of investors in bonds. The secondary municipal bond market is not a very liquid market because these securities are bought from the primary market and held in portfolios by investors because these bonds have a low risk. The issue of these bonds is correlated with the financial independence and the level of decentralization of the local public authorities. The issuance of these bonds is correlated with financial independence and decentralization level specific to local public authorities. Under crisis conditions, the volatility of this market is more significant, the increasing deficits of local budgets decreasing the interest of the middle-class in investing in such financial instruments

Mark - a primary attributes in the company

Overall marks express the general architecture firm / organization / company relates to the market. There are four major types of architecture marks (Aaker, D., 2002) from the company / organization / company which is an umbrella for many brands for several companies operating until the company / organization / company itself which is a brand. Each of these four types of architecture, brand, brings benefits and risks with major implications for the survival of the market that brand because the brand can not be separated from the company in view of customers, it can affect the relationship with the consumers. Companies can change or modify the architecture brands by market requirements or when they deem it necessary. At the same time must remain open and flexible to the needs of consumers and brands to create new architectures more efficient and imaginative designs using different techniques. Most models for the analysis of portfolios of activities of firms have a number of limitations, which have prompted experts to challenge their practical relevance and applicability in a competitive environment imperfect and unstable, as in most markets. There are experts who believe that it is undeniable contribution of these methods to create a competitive analysis and decision algorithm and combat these methods do not understand the mission they have. The model asset portfolio analysis of a company can be in practice strategic benchmarks against which identifies concrete action directions competition but have a very mechanistic view of the competitive game and possible policy options

Some challenging (macro)economic aspects of FDI in Romania

The research intends to analyse a series of FDI effects on Romania from the viewpoint of structure, volume and dynamics by types, sectors and branches, development regions and origin countries, as well as the impact on the expatriated and reinvested earnings, trade balance, and profitability of economic agents with FDI, transfer prices, and competitiveness of exports.The outcome of the research highlights the overall negative trade balance of enterprises with FDI between the years 2007-2010, the relation between reinvested and expatriated profit, and the unfavourable impact of some energy traders on competitiveness. The importance of foreign investments in industry is highlighted, especially in the manufacturing industry and the unsatisfactory structure of FDI, which in Romania aims at the medium- and low-tech level branches.FDI; repatriated earnings; trade balance; state-owned transnational corporations, transfer prices

Common Dermatoses in Patients with Obsessive Compulsive Disorders

Obsessive-compulsive disorder is a chronic, debilitating syndrome, consisting of intrusive thoughts- which are experienced as inappropriate by the patient and are producing anxiety- and compulsions, defined as repetitive behaviours produced to reduce anxiety. While patients with obsessive-compulsive disorder typically have xerosis, eczema or lichen simplex chronicus, as a result of frequent washing or rubbing their skin, several other disorders which are included in the group of factitious disorders have also been associated with obsessive-compulsive disorder. A close collaboration between the dermatologist and the psychiatrist is therefore mandatory in order to achieve favourable outcomes for these patients. The aim of the article is to present the most frequent dermatological disorders associated with obsessive-compulsive disorder and to look over some of the rare ones

Sensor Fusion for Location Estimation Technologies

Location estimation performance is not always satisfactory and improving it can be expensive. The performance of location estimation technology can be increased by refining the existing location estimation technologies. A better way of increasing performance is to use multiple technologies and combine the available data provided by them in order to obtain better results. Also, maintaining one's location privacy while using location estimation technology is a challenge. How can this problem be solved? In order to make it easier to perform sensor fusion on the available data and to speed up development, a flexible framework centered around a component-based architecture was designed. In order to test the performance of location estimation using the proposed sensor fusion framework, the framework and all the necessary components were implemented and tested. In order to solve the location estimation privacy issues, a comprehensive design that considers all aspects of the problem, from the physical aspects of using radio transmissions to communicating and using location data, is proposed. The experimental results of testing the location estimation sensor fusion framework show that by using sensor fusion, the availability of location estimation is always increased and the accuracy is always increased on average. The experimental results also allow the profiling of the sensor fusion framework's time and energy consumption. In the case of time consumption, there is a 0.32% - 17.06% - 5.05% - 77.58% split between results overhead, engine overhead, component communication time and component execution time on an average. The more measurements are gathered by the data gathering components, the more the component execution time increases relative to all the other execution times because component execution time is the only one that increases while the others remain constant

Determining the Antibiotic Resistance of Bacterial Pathogens in Sexually Transmitted Diseases

Sexually transmitted diseases (STD) are among the most common infections worldwide. These bacterial infections have spread predominantly in the developing/underdeveloped countries, the most common being syphilis, gonorrhea and those induced by Chlamydia trachomatis, Ureaplasma urealyticum or Mycoplasma spp. Due to extensive usage of antibiotics in the recent past, these bacteria developed resistance to those commonly used for treatment, such resistant strains becoming a public health problem in a number of countries. It is well documented that bacterial STD agents are difficult to detect using standard culture media because these methods require special conditions and adequate nutrients. Antimicrobial susceptibility testing is, therefore, difficult to obtain in such cases. In recent years, genetic tests have been frequently employed in STD diagnosis. The study of genes that induce resistance to antibiotics using DNA isolated from these bacteria may prove to be a viable alternative. Genetic methods enable the DNA extraction from different biological samples, and both the presence of the bacteria and their resistance to one or more antibiotics can be determined from a single DNA sample. By studying the genes that induce antibiotic resistance and the plasmids that transfer such genes, the mechanism that leads to antibiotic resistance can be elucidated

Perspectives for modern agriculture development in Romania

To understand the importance of this work, we must understand the importance of agriculture, in the Romanian space, in particular. Agriculture, as a primary field of activity including plant cultivation and animal husbandry, is a major sector of the national and global economy. Therefore, agriculture has to obey any rules, objectives and institutions that govern the economic system as a whole, whereas it is itself a distinct system that is interconnected with other subsystems within the economy. Modern agriculture begins in a research station, where scientists have access to the necessary supplies, expertise, and corresponding time. But, when the package is awarded to farmers, even the best farms cannot compare with the results we get as researchers. The basic challenge for modern agriculture is to sustain a better use of internal resources available in Romania. Presently, information in agriculture at the decision-making level comes from suppliers, researchers and private entrepreneurs rather than from local sources. However, the use of local information can minimize the use of external inputs, lead to more effective regenerating, or combine both. Modernization of agriculture presumes to be sustainable, economically viable, and socially responsible, protect resources, and serve as a basis for future generations. For this work, we have consulted some of the most important research literature, periodicals, scientific papers, technical and economic documentation, and other sources