CBS Investment

Questions about what stock exchange is and what features are a part of its notion, of course, is primarily important for the legislation. There is a particular need for a legal definition and differentiation of various trade associations, because the economic importance and the effectiveness of the exchanges are just obvious (it is sufficient to refer to the turnover of the Stock Exchange and compare it with the basic macroeconomic indicators of the economy of the state (e.g., GDP)). It is also apparent that the stock exchange is a subject of managing and leads business activities (stock activities), mediating between buyers and sellers. In this regard, the Exchange has some, but quite specific, rights and responsibilities. The specificity of the rights and obligations is attributable to the same economic isolation and the importance, and consequently to the supervision of the state. Considering all the above, we will try by logical arguing, to define the term ” stock exchange” and point to major differences between the stock exchange and the market.

It is expected that the winter Olympic Games in Sochi in 2014 will be clean and «green». Its organizers have committed themselves to the proper disposal of waste, economic usage of water and electricity, the observance of cleanliness and careful attitude to the environment in general.

The United Nations Environment Program (UNEP) signed a Memorandum of Understanding. It is aimed at protecting the environment during the preparations for the Olympics and its implementation with the Russian National Committee for the Olympic Games.

Under this Memorandum, UNEP will provide technical support for Russia in its efforts to organize «environmentally friendly» Olympics.

At the signing ceremony the representative of UNEP Teodore Aubin stated that he hoped that the new arrangements would be a sort of guarantee that during preparation and holding of competitions measures will be taken to protect nature in Sochi and the whole Krasnodar region as well.