There are Many Challenges in Financial Translations

All successful translation work depends on the outcome of the translation being accurate, but a financial translation requires far more attention to detail. This is because a simple mistake could lead to a serious problem. A financial translator must have a clear understanding of the targeted so as to make sure the right terminology is used in the financial translation.

If you are looking for a financial translation, you will need the experience and expertise of a financial translator. You can’t usually expect a good financial translation from a general translator.

Financial Terminology is Important in a Financial Translation

Precision and accuracy are extremely important in all financial translations. The translator must use the correct terminology depending on the targeted audience and target language as not all financial terms are universal. For example, in the U.S. ‘common stock’ is used while in Britain ‘called-up share capital’ is used. The ‘share of stock’ in France is called ‘action’ but ‘capital’ in Russia is called ‘share capital.’

Financial terms are full of unique and complex nuances which are quite a challenge for translators who haven’t yet build up experience in the financial translation industry. In the U.S. ‘accounts receivable’ is commonly heard, but it’s called ‘trade debtor’ in the UK, while in New Zealand, this is called ‘debtor.’ Additionally, in New Zealand, ‘stocks’ is a financial term, but the term ‘inventories’ is used in the U.S.

It’s not acceptable to directly translate terminology as this could confuse the meanings of different terms. The translator has to know what terms are applicable. For example, smart contracts and mining are commonly used terms in dealings with cryptocurrency. It is crucial for the translator to know which has to be used. A financial translator must be able to translate quickly fast and meet all deadlines set.

Confidentiality in Financial Translation

Financial documents have to be totally secure as they could reveal important confidential information about a company. They must be kept private and only passed onto to a translator who can be trusted.

Most professional translation services typically require both their translators and interpreters to sign a non-disclosure contract. Because translation companies often make use of translation memory tools, they have to ensure that no external sources can access them. This is crucial to clients who want financial translations.

Clients need to be sure that translators who have been assigned to conduct a financial translation are always professional, trustworthy and responsible because the information being translating is usually valuable.

You are Advised Not to Lie in a Foreign Language!

It’s not often you probably really think about whether someone is lying or not but if you do think about it there are some cues that indicate somebody may be lying. Perhaps they start to speak quickly, or even stumble when speaking. Some people will even try to avoid making any eye contact. It seems that not all cultures use the same methods when lying.

Lying in English

For English speakers the tell-tale signs that show someone is lying are generally nervousness: a quiver in the voice, little eye contact and stuttering. However, there is still evidence to show that liars aren’t always nervous while nervous people are not always lying.

A United States study in 2003 examined the language of lying people and found that speech quality changes when English speakers lie such as the rise in the voice’s pitch.

Lying in another language but not English

When Chinese speakers of Mandarin told lies online, there was an increase in the use of 3rd person pronouns. Also, in the Netherlands, Dutch speakers’ pronoun use didn’t differ in either lies or truthful speech which is not the same as in English. With Italian speakers there is little difference in pitch when an Italian is telling the truth or lying. However, an Italian speaker speaks more slowly when he or she is lying, which is not the same with English speakers. This may be to do with the fact when speaking normally an Italian speaks faster than English so, when lying, the speech becomes slower.

Lying in a 2nd language

When a non native speaker of a language lies there is some indication that the skin temperature rises in response. This seems to be prevalent more so when someone lies in a language that isn’t their own but not after the translation of the foreign language.

Because there has been experimentation on how to detect whether someone is lying, it might be something you can’t conceal even if you think you are convincing. This means you should be very careful when lying as you don’t know who has the ability to detect those lies.

It’s Time to Learn About Indian Art, Culture and the Hindi Language!

Namaste! With one of the largest populations on Earth, a billion strong, India is full of fascinating and often perplexing and contradictory facets. Indians have moved to every corner of the globe. They are truly global citizens, but most have a place in their hearts for their homeland and Indian art and culture.

India is full of superlatives: it is big geographically; its history spans the centuries; its literature, religions, languages, art, cuisine and culture are second to none in complexity and richness. It would take years of academic study to learn even a smidgeon of the history and cultural heritage of India, but as a casual visitor to the sub-continent, you cannot fail to be impressed by everything you come across. Although an attempt to master India’s main national lingua franca, Hindi, will mean you win friends and smiles wherever you go, you will find that many Indians will speak English, often as well as you!

You will find it easy to get into conversation in often the most unlikely places, like the platform of a railway station or a humble village restaurant. These present opportunities to learn about Indian society and culture at close hand.

Many Indians will have relatives overseas or will have spent time working, or studying abroad themselves. Wherever you travel in India, from the hot and humid South to the mountains of the Himalayas and the Ganges basin, you will everywhere be reminded of the history of Indian culture.

Learning the Hindi Language

Hindi (मानक हिन्दी) is one of India’s two official languages, although there are literally dozens of regional languages across the sub-continent. Most Indians speak their own language or dialect and Hindi and many also speak English, India’s other official language, too.

There is no easy way to learn Hindi unless you are brought up in India or amongst one of the many international communities of Indians in the international diaspora. Linguistically, Hindi shares an affinity with other Indo-Aryan languages like Punjabi and Urdu and like these languages has its roots in Sanskrit. It is more remotely related to other Indo-European and Indo-Iranian languages like Farsi, Tajik, Pashto, even English.

Hindi has its own unique script, Devanagari, which you will see all over India. It looks nothing like Latin script, though! There is no easy way how to learn Hindi easily as it means learning the spoken language as well as the written one.

Development of science and technology in India

After independence, the development of science and technology in India was swiftly promoted by Jawaharlal Nehru. The first Indian Institute of Technology was established in 1951 in West Bengal. Technological development in India has since gone ahead in leaps and bounds. India accounts for 10% of Asia’s spending on research and development on science and technology, although it still lags behind the spending of developed countries.

There are now many advances in the latest technology in India, such as developments in nanotechnology. In 2017, it was reported that India was ranked third in the world in this field after the U.S. and China.

Different Indian festivals

Although the most important religion in India is the Hindu religion, in fact there are many other religions scattered across the country. Each of these religions has its own unique and often colourful festivals. If you visit India, you will certainly want to experience at least one of them! Here are some of the major festivals of India.

Diwali

Of all the important festivals in India, Diwali must be the best known. It’s also called tghe Festival of Light and celebrates the triumph of good over evil. In most parts of India and in many other countries where there are substantial numbers of Hindus. Diwali spans several days of festivities. You can tell when Diwali is about to happen because homes and businesses will be stocking up on all manner of lights and other decorations like flowers.

Holi

A list of Hindu festivals wouldn’t be complete without Holi. Like Diwali it is celebrated in slightly different ways across India because of the different ways the holy Hindu scripts, the Bhagavad Vita are interpreted. It is also called the Festival of Colours.

Eid Ul Fitr

Ramadan is not a Hindu festival as such, but a Moslem period every year of abstinence. For a month, Indian Moslems and Moslems everywhere around the world abstain from food, drink, smoking and sex a. It is a time that Moslems remind themselves about patience and humility and their relationship with God. The end of Ramadan is marked by Eid Ul Fitr, the most important festival on the Moslem calendar.

Historical places in India

With hundreds of years of recorded history, it stands to reason that there is a legacy of historical monuments of India scattered across the country. Some of these date back to the pre-Hindu and Buddhist era and others to the many different empires that have ruled the sub-continent through the ages, but most famous historical places in India relate to the predominant Hindu religion and culture.

Probably the holiest of India’s historical places is the city of Varanasi by the Ganges. It is known as India’s ‘oldest living city.’ Varanasi is principally a place of spiritualism and pilgrimage for devout Hindus and a visit to the city is a reminder of the huge importance and significance that India’s most important river is to its people.

The Taj Mahal is probably the single most well known historical monument of India, at least outside India. It is not a Hindu monument, but this magnificent palace was built in the Moghul era by Emperor Shah Jahan as a testament of his love for the Empress.

The Golden Temple in Amritsar in the Punjab, is a beautiful Sikh temple and a testament to the creed of hospitality of Indian Sikhs.

Indian Food

Few people have never tried Indian food. Indians from all over the country have taken their rich range of cuisine with them to delight the palates of hungry and discerning restaurant goers all over the world; India is best known for its huge range of spices, herbs, vegetables and fruits which have been used to give Indian food its distinctive flavour and texture;

Indian meals are traditionally based on rice, but this is usually replaced by chapattis and roti in the North where wheat is the most common grain.

Most Hindu and Buddhist disges tend to be vegetarian based, but lamb, goat, fish and chicken are used depending on what is locally available;

Main meals may be accompanied by tea (chai) or yoghurt based fruit drinks like lassi. Indian sweets and desserts are understandably famous and often very brightly coloured!

Conclusion

Hopefully, this brief introduction to one of the world’s great cultures is enough to whet your appetite. From Bollywood to Indian food, Hindu festivals to historical monuments, you can guarantee that a visit to India will be an exhaustingly absorbing experience! Even if you only remember to say “Namaste,” an attempt to learn India’s most important language, Hindi, will be richly rewarded as an insight to Indian art, culture and religion as well as the modern life of an emerging regional superpower, and don’t forget The Migration Translators offers fast, efficient, Hindi translations of any documents you need translating to or from India’s most important language.

5 Factors Affecting the Cost of Translation

There is not complete equality between translation projects, as some are just a matter of translating straightforward documents, while others could be medical or legal documents which ultimately will affect the cost of translation services.

In general, there are 5 factors that play the most important roles in determining the cost of translation while influencing translation prices.

1. Language

Some languages typically cost more than many others to translate. For example, the cost of translation services for English to Japanese is considerably more expensive than English to Spanish. English generally plays the role as an intermediate language, between the less common translated languages, so this means adding an extra layer to the translation process which of course adds to the cost of translation of a complete project.
If someone is looking for a translator to translate between say Hindi and Icelandic most Language Service Providers (LSPs) would first try to locate a translator who is able to translate the Icelandic language into English. The second translator will be paid to translate from English into Hindi. This is one of the factors affecting cost of translation.

2. Deadline

Some translation projects may be considered very important with tight deadline dates set. LSPs take this into consideration when considering the cost of translation services. Some may even charge anything from 10% to 200% more for urgent translation projects.

3. Size

A translation project’s size clearly has an impact on the cost of translation. This is normally based on the word count of the project. For example, a small company memo being translated into another language will quite naturally have a far smaller number of words than a manual for a manufacturing company which needs to be translated into 3 languages.

4. Complexity of the document

Big projects with different sorts of translation requirements may require a whole team of translators depending on the nature of the work. Often a translation services will charge more for these sorts of projects. Say for example the translation has to be laid out on a specific company website which is already written in the company’s native language. Desktop publishing and website planning are additional services that will need to be used to complete the project well. This of course will add to translation prices.

5. Quality

Depending on where the translation will end up will influence quality control. Even though of course all translations should be high quality there are some like for the pharmaceutical industry that might require more than a second pair of eyes to ensure that a high quality translation has been completed. This ultimately is one of the factors affecting cost of translation.

Language Shapes How People Behave and Think

Linguists and scientists have conducted many studies showing how language shapes how people both behave and think. Language is a part of a culture and so it has an important effect on how a person thinks, which affects how they behave.
The way speakers provide an interpretation of the everyday things that they feel, see and hear around them can be complex because of the influence of personal experiences through traditions, norms, cultural rules and languages. Thoughts originate from words and the thoughts themselves initiate behaviour.
Global business and international communication are affected by languages as well so there is a pressing need to get localized and get language translations. To do business in another country, a business has to be able to deliver product messages to both their employees and their targeted audiences in an appropriate language that can be clearly understood. Localization basically means that all types of communications have to be translated into the targeted local language. The training of local employees in the corporate culture must match the local culture otherwise it’s doomed to fail.
People use their language every day in order to communicate, celebrate, negotiate, argue, learn, document and legislate. People each day are exposed to language from the media, indoor and outdoor and websites. In societies which are still not so technologically advanced, knowledge is more likely to be transmitted orally.
Connection between culture and language
Every language perceives the world in a slightly different way which means the speakers of a specific world language view things somewhat differently. It takes a lot of learning and understanding by researchers before they can fully understand the relationship between culture and language in a society they are studying. This ultimately affects language translations.

Cyber Crime & Data Security in Today’s Translation Services

Security for almost the whole history of the internet has been a hot topic. These days, whether you are involved in politics, in a business like a translation business, or you are concerned about your own computer or laptop, there have been more real security issues threatening our data that has ever been seen before.

Translation services may be a more likely target

All sorts of business and organizations, including multinational corporations throughout the world, use translation services to translate key documents that need to be circulated amongst people who don’t speak English. There are huge numbers of documents and files transiting the internet from one server to another every day. This is just the sort of place a commercial spy could hack and try to access financial details of these well-heeled clients who request translations.

There are 3 key areas that need to be considered

1. Data protection is an important concern so much so that the EU has implemented strict data protection laws such as General Data Protection Regulation (GDPR) from May 2018. This makes it an offense if a business fails to protect any EU citizens’ personal data and other information. It has to be stored, used and transmitted only under strict rules. For translation businesses that handle translations for private individuals, this means having suitable security measures in place to protect customers.

2. Cybercrime is on the rise and it doesn’t just affect governments and other well-known organizations but even SMEs which make up many translation businesses are facing problems with cybercriminals who are planting viruses, closing down websites, hacking into systems and even going as far as stealing data and asking for ransoms. This is now referred to as “cyberextortion.” This is certainly not the time to under-invest in following the correct IT security protocols.

3. Industrial espionage is on the increase as companies are increasingly paying individuals to steal information about competitors. This means stealing designs, plans, documents, and proposals. It’s not only about hacking servers and copying files but much more serious as sometimes undercover spies are planted into businesses so they can steal files. Employees are even being bribed to make copies of key information. Translators are quite obvious targets as often they don’t have the most sophisticated of security measures to protect their LSP clients. They commonly work at home with little or no security in place.
Maintaining a high level of security for both translators and clients is a high priority for all translation companies. One of the most important steps is to ensure translators know when something unusual is taking place on their computer so a security alert can be put in place.

Three Benefits of Translating E-Commerce Products

If you are thinking of marketing your products online to a global market it’s not worth the effort unless you translate the information about your products into the language of your proposed market. There are two main things you need to get your e-commerce products globally mobile, one is the translation of products and two is the localization of products. Before you can start with the localization which is getting both your website and your product to meet the global market you need to translate your product information first. This information can then be adapted to meet the requirements of localisation.

Benefits of Translating your e-commerce Products

1. More Sales than Non Translated Product

Before making a purchasing decision, 56 percent of potential e-commerce customers indicate that their first consideration is learning about the product in their own language. This is in fact more important than the price of the product. In the EU, when it comes to booking tours or hotels, 80 percent say that they must read the promotional material in their own language first before deciding to buy. This is the first reason for translating your website.

2.More Customer Loyalty through Translated Product

One of the things that ensures regular income for a business is customer loyalty. Once you have got a customer interested in your product because of your e-commerce product translation so they can understand it in their own language, they will go back to your site over and over again because they know what to expect. It’s loyalty that brings in consistent sales.

3.Better than your competitors

An e-commerce translation of your products puts you ahead of your competitors, which offers you a better chance of determining the price of your product. Your brand will begin to stand out in the international market if customers know your website is easy to understand and you are reliable. This information will likely be shared on social media sites so you can expect even better sales.

If you don’t translate your e-commerce products you can only expect to sell your products to those who understand the language of your website. Customers are savvy and won’t let go over money unless they are sure the product is what they really want. Appearance and language on your website that suits your intended customer puts you ahead of the rest and grows your business’s revenue.

What is Book Meta Data Translation?

Every author wants a book to find its way to an international audience. The use of metadata is becoming increasingly important as a method of getting discovered by a larger audience.

If you have written a book which has a single niche say for example a sci fi novel about a colony in outer space and you enter it as metadata, you would expect it to assist your book to rank uniformly, internationally. However, you find your sales won’t pick up despite of following all the tips of translation. This is because your book can’t be easily found by search engines like Baidu in China. This is due to the fact that it promotes metadata translation in Chinese languages and not English metadata. There are most likely potential readers that would love your book but it’s simply not discoverable by them.

This problem can be solved when the book is well translated and well placed. Metadata can assist your books to get new readers and increase your sales, whatever the language.

An Overview of Book Metadata

Book metadata assists search engines to connect your book to readers by providing a way for the search engines to index online info. Metadata translation assists users to find the product or content they are looking for. For the book publisher, this is particularly important, as metadata will attract potential readers to your books’ titles. When somebody keys into a search engine a query, the search tool quickly reviews numerous web pages to source the metadata that fits best the query. The amount of detail, its accuracy, and its relevance of the book’s metadata can have an impact directly on its visibility. Metadata translation for a book typically includes the following:

  • Name of author and any contributors;
  • International Standard Book Number (ISBN), with book title, and its subtitle;
  • Book description plus a synopsis and cover image;
  • Publication date and the name of the publisher;
  • Genre and subject matter;
  • The book’s price;
  • The targeted audience;
  • A table of contents;
  • Reviews, excerpts and quotes from the book.

Precise Translations and Better Metadata

As metadata seems to be an important part of publishing a book, accurately translated metadata is significant too. When somebody is looking for a book, inaccurate and poor translations will mean the book will be hard to find.

The main benefits of a book metadata translation are:

1. A Notable Sales Increase
When 3 descriptive data components are there, there is a 72% rise in books sales when compared to books without descriptive data. Also book titles with keywords experience average sales 34% percent greater than book titles that don’t have keywords.
2. Improved Discovery of the Book
This will mean that those after your book to put it into their country’s supply chain can appropriately plan their orders. It will also enable readers searching for books of interest to them to find your titles prior to publication, and perhaps even order them in advance.

Need of Localization for B2B Websites Through a Microsite

A microsite is a website that is smaller than a business’s main site but has links to it. Often a business will create a microsite when starting to promote a new product.

Creating a microsite in a foreign language

This is a particularly good idea if a business’s main site isn’t entirely appropriate for another country. Some of the useful content can be translated and transferred to the microsite while marketing material for the particular customer in another country will need to be adapted to suit the culture of the likely customer whether it’s B2B or B2C.

A Microsite for localising your B2B website may be a good idea if:

  • You are out to target and welcome new audiences.
  • It offers good search engine optimization (SEO) prospects.
  • It is a way to customize your product to a new B2B market.
  • You are testing your product in new waters.

What you should include when localising your B2B foreign language microsite

First of all check on the visitor numbers for your main site and those that attract the most hits should be transferred to you new microsite. Do some research on your B2B target audience and see what sort of content attracts them the most. Make sure what you choose is translated appropriately for a B2B audience. You must ensure that the links work back to your main website as the businesses accessing your profile will see where your business origins are.

The localisation process for B2B

Once the microsite is ready to load localising it appropriately means ensuring any images or videos are suitable for the intended audience and any voice over translations have been completed. This includes everything from image choices to videos and PDF files. You will need to get your search or keywords optimised for SEO and this means getting an experienced translator to incorporate the keywords into your content pages.

This has to be done in such a way that the text flows smoothly and there is no inappropriate or poor language used that may distract the reader from your site. B2B localisation is very important as this is a far more competitive world than B2C. You want to attract overseas businesses to buy your product in bulk and on sell it to the final consumer. Packing a container load of your product into a container or two to send to an overseas business is far more lucrative than handling one good to one customer sales which is takes up much more time and involves a higher cost per product.

Unusual Languages Where Translation May Still Be Required

It’s not too difficult to find a translator who can translate your text into a more commonly used language but when it comes to unusual languages like the African languages of Acholi, Ewe, Dzongkha or Mien this can be quite a challenge!
Often, less spoken languages are found in poorer parts of the world where there are few speakers and the educational level of the population is poor. This means it’s rare to find a good language translator who has the skills to translate from or into his or her lesser known and more unusual native language into a language such as English. Finding an online resource to do the job of translating these less well known languages into other languages is a feat in itself, let alone finding an experienced translator with these skills.

What Do You Do When Seeking a Translation of an Unusual Language?

There is always someone trying to find a niche, whatever the industry. So you could probably find someone who does speak the unusual language, but isn’t necessarily that competent in English. Even an experienced language services provider (LSP) may not be of much use as they too may have difficulty accessing speakers of unusual languages.
This doesn’t mean they won’t attempt to find somebody to do the translation job as they will have a good go. They will spend time searching through their database of translators until they come across somebody who has the competency to do the translation job. Basically when it comes to making the decision of who to hire for your unusual translation you take a chance that the translator you eventually hire has the ability to do at least a readable translation.

How Professional Language Service Providers Translate Unusual Languages

They will try to use whatever technology they have to ease the difficulty of finding a competent translator for the unusual language pair. They will, of course, integrate the resources that come with machine translation (MT) but machine translators need to have been inputted with information before they can be used effectively. The chances are with an unusual language that the machine translator won’t have sufficient information stored as this type of device tends to work only when a huge amount of translated content has been completed, analysed and stored so that when accessed it can generate a translation with the help of all the stored information.
Once you have chosen your translation services to translate your text from an unusual language into English you will just have to sit back and hope you have made the right decision.