This page has been archived and is no longer updated. Find out more about page archiving.
Search BBC
BBC World Service
BBCBBC NewsBBC SportBBC WeatherBBC World ServiceWorldservice languages
 
spacer gif
You are in:Home page >News English > Words in the News
Learning English
spacer gif
 Words in the News
INTRO 
 BBC News correspondent Damian Grammaticas reported on the enthusiasm in Hong Kong for the privatisation of the MTR (Mass Transit Railway).
IN FULL 
 AudioListen to the report in full
Railway staff

28th September 2000

Rush for Hong Kong rail shares

NEWS 1 
 AudioListen to the first part of the report
  In the morning sun the queues formed early. Outside some banks hundreds of people waited patiently, lining the pavements, snaking round entire blocks. They stood for up to three hours in the heat. All were eager to get a slice of Hong Kong’s first privatised utility - its underground Mass Transit Railway system. In the event, many went home empty-handed. Two million application forms were issued for shares when the MTR is launched on the stock market next week. Supplies ran out within an hour. In many places people were told to try again tomorrow.
  AudioListen to the words
WORDS 
 

queues - lines of people waiting for something are queues

waited patiently - if you wait calmly and quietly you wait patiently

snaking round entire blocks - this expression describes how the queues were very long and twisty, like a snake

eager - if you are keen and enthusiastic you are eager

a slice of - a piece or a part of

privatised utility - a company providing a public service which is owned by private investors is a privatised utility

In the event - what actually happened was....

went home empty-handed - were unsuccessful in their attempt to buy shares

NEWS 2  AudioListen to the second part of the report
  Previous flotations by Internet-related firms generated huge demand from amateur investors wanting to put their money into Hong Kong’s stock market. This time police officers were deployed at banks and underground stations in case of trouble with the expected crowds. Shares in the MTR promise lower returns than those of the new economy firms, but many people are now attracted by the idea of a more traditional and less risky company in which to invest their savings.
  AudioListen to the words
WORDS  

flotations - when the owners of a company sell shares in it to raise money it is called a flotation

generated huge demand - made many people interested

police officers were deployed - police officers were sent to particular places

risky - something that is risky could be dangerous

   

BBC copyright
 
Learning English | News English | Business English | Watch and Listen
 
Grammar and Vocabulary | Communicate | Quizzes | For teachers
 
Downloads | FAQ | Contact us