TOO LATE? An Analysis of Borrowers Increased Risk in the Danish Housing Market Downturn. St u d e n t s:

Størrelse: px
Starte visningen fra side:

Download "TOO LATE? An Analysis of Borrowers Increased Risk in the Danish Housing Market Downturn. St u d e n t s:"

Transkript

1 TOO LATE? An Analysis of Borrowers Increased Risk in the Danish Housing Market Downturn Master Thesis MSc in Economics and Business Administration Applied Economics and Finance Department of Finance St u d e n t s: Ianina Sohova henriette Rasmussen Walsh Submission Date: 10 August 2009 Supervisor: Jens Lunde Copenhagen Business School 2009

2

3 Executive Summary The final project of the Applied Economics and Finance Programme has been defined as an analysis of borrowers increased risk in the Danish housing market downturn. The housing market experienced an increase in transactions and prices from 1993 to the end of The analysis of the house price development cannot be explained just by fundamentals. We have found evidence of the existence of a housing bubble. The bust of the bubble has dramatic consequences for the society as a whole, and in particular on ordinary people (in our case borrowers). The work carried out was split into desk research and field research. The desk research conducted on the basis of the published secondary data gave a general overview about the development of the Danish housing and financial markets. However, the field research gave a better understanding of the problem, and illustrated the hardship of the situations that actual people found themselves in. The analysis of the consequences on a macro and micro level underlined the linkage between the housing market and the rest of the economy. Theoretical analysis of the risks in the housing downturn with the support of empirical evidence determined that the main risk is a loss of income due to different circumstances (unemployment, divorce, illness, etc). Double housing and exposure to volatility of the short interest rate when choosing ARM are considered as new features of risk in the current downturn of the housing market. The downturn of the housing market does not change the risks of borrowers radically, but it makes them more pronounced due to a high level of uncertainty and unpredictability. 1

4

5 Foreword First of all we want to thank our family and friends for all the support and help you have given us during our long journey of thesis writing. We would not have been able to do it without you! Second our thanks also goes to our Supervisor, Jens Lunde, who has provided us with many invaluable inputs and ideas. Thanks for all the time you have given us, and thanks for all the great discussions, which have been the stepping-stone for the end result of this thesis. We also want to thank Bo for his incredible work with the layout. You definitely have a magic touch. And thanks to Steen for rescuing us in the end with the layout, due to Bo s absence. Last but not least we want to thank all our interviewees. Without their stories this thesis would not have been complete. So thank you all!

6

7 1. Introduction Problem Statement Methodology Research Design Collection of Data Structure of the Study Definitions Demarcation Sources and Criticism of Sources Part I: Prior to the Downturn and the Turning Point Structural Changes in the Owner-Occupied Housing Market Development of Prices and Sales of Real Property Can Demographics Give an Answer? The Stability in the Owner Occupation Pattern More Space for Each Occupant The Supply of Housing Sub Conclusion Danish Economy with a Perspective of the Housing Market Expansion of the Danish Economy Impact of Tax Reform Increase in Labour Market Participation Beneficial Development of the Interest Rate Gap between Housing Prices and Wages Equity Withdrawal Sub Conclusion The Development in the Mortgage Market The Mortgage Industry Development of Mortgage Products The Fight for Market Share Consultancy A Conflict of Interest Sub Conclusion House Price Boom and the Bubble Theory Housing Prices Can Housing Prices Be Explained by Fundamentals or Was There A Bubble? The Busted Bubble Sub Conclusion Part II: Hard Consequences Macro-economic Influences What is the Current Economic Situation in the Downturn? How are the Housing Market and the Rest of the Economy Interlinked? Sub Conclusion Borrowers and the Downturn The Risks of Different Mortgage Types Too High Loans Negative Equity Refinancing and Credit Crunch Double Housing Building Projects... 86

8 Sub Conclusion Case Studies Reality Bites General Findings Case Study One Double housing Case Study Two The Divorce Case Study Three Bridging Loans and Double Housing Case Study Four Own Building Project Case Study Five Unemployment Sub Conclusion Arrears and Foreclosures Cases of Foreclosures Sub Conclusion Part III: The Housing Downturn Now and Then A Comparison Similarities and New Features Do we ever learn? Sub Conclusion Conclusion The Most Important Findings and Answers Perspectives Bibliography

9 1. Introduction The housing market experienced a boom in transactions as well as prices that has no comparison to anything seen before. The upturn lasted from 1993 till 2007, with a nominal price increase of 241%, or by 207% in real prices. This is illustrated by a quarterly price index for single-family houses from the third quarter of 1993 till the third quarter of 2007 (Statistics Denmark). The peak in transaction volume was reached in the fourth quarter of Prices reached an all time high in the third quarter of 2006 for flats, and in the third quarter of 2007 for single-family houses (Statistics Denmark). Since then, the housing market has been in a drastic decline that has dramatic consequences. From earlier downturns, we know that it not only has an impact on the society as a whole, but also on ordinary people (in our cases borrowers), which will be our main focus in this paper. Borrowers are affected to various extents by the downturn; some are obviously affected more than others. They have terminated my loan...the situation is untenable because it means that they want all the money back in a lump sum. I can risk that I m taken to bailiff s court, even though I paid all my payments so far 1. We have taken different risks into account however, we could not predict a situation, where both of us were laid off at the same time... emotionally it was the most difficult situation 2. The statements are from interviews with people who are feeling the consequences of the downturn, and the seriousness of the topic becomes even clearer. The two citations are in stark contrast to various reports that until recently stated that the economic situation of Danish households could be considered as still fundamentally sound (EIU. DK: Country Report, 2008), and the landing would be soft (Madsen, 2008; BRF Kredit, 2006). 1 Appendix Appendix

10 However, the statements have become redundant. Denmark has experienced two crashes before, and , with a maximum fall in real house prices of 37% from the peak to the end of the crash (Girouard et al., 2006). This was the downturn in , which lasted 14 quarters. From the fourth quarter of 2006 and the fourth quarter of 2007 to the fourth quarter of the real prices for respectively flats and single-family houses have decreased by 18.5% and 7%, and the time frame is shorter. According to a housing review conducted by RICS, 2007, the previous downturn took place in an era of economic instability, combined with high but varying rates of general price inflation prior to the last crisis. At that time, borrowers were also affected greatly which could be seen in the foreclosure statistics at that time. The time lag between the peak in housing prices and the peak in foreclosures were three years during the first housing crisis and four years during the second crisis. How will it be this time? Does this downturn differ from the last crisis in terms of economic stability or the lack of it? Inflation was low prior to this downturn, but has started to increase in Moreover unemployment, credit crunch and loss of housing value are all a bitter cocktail for borrowers. This is not a new phenomenon though, as these were also some of the ingredients in the previous housing crises. However, the all time low interest rates, new mortgage instruments, and the eased access to loans prior to the downturn are new features in this prevailing housing crisis. In the light of this, we propose the following problem statement and a further detailed analysis of the topic Problem Statement HOW DO BORROWERS INCREASED RISKS IN THE HOUSING DOWNTURN MANIFEST THEMSELVES? 3 Data is only available to the fourth quarter of

11 The following sub questions will be at focus in our research, as they will be a means of pursuing our goal: 1. What made a lot of people buy homes at a time when housing prices almost reached their peak? 2. Which factors were the most influential in a rise in transaction turnover and in price? 3. Was there a housing bubble, and by which factors can this be concluded? 4. What effect does a housing bubble deflation have on borrowers? 5. How is the housing market interlinked to the whole economy? 6. What impact does the house price decrease have on households? 7. What are the borrowers risks in general when entering the housing market, and how are the risks increased in the housing market downturn? 8. What are the new features of this housing downturn compared with the previous crisis? 1.2. Methodology In this section we address the methodology applied. We look at the research methods used combined with data and sources. Our aim is to clarify as much as possible what our contemplations have been, why we have chosen one research method over another and what the pros and cons are of the chosen research methods Research Design When starting off it is always immensely hard to give a precise description of what the overall purpose is because in the beginning you have many ideas. The sensitivity of the topic, i.e. the financial and emotional risks of real people, has determined our methodology and research design, which was defined to include the following: Questionnaires disseminated among the borrowers in arrears Personal interviews with selected families in arrears Interviews with experts Collection of the statistical data and analysis of these Data collection and analysis of the current foreclosures 5

12 Analysis of the surveys and materials from previous housing crises Collection of the theory related to the topic and application of the one that is relevant to the topic under study Case studies based on the face-to-face interviews with the people affected by the downturn Structuring and analysing of the material collected Initially our goal and ambition was to conduct a survey and interview people in arrears in order to get an understanding of the reasons behind their arrears. There were two reasons for this: 1) We felt that people in arrears would really be able to tell us about the risks and hardship involved in being a borrower, especially in a downturn and 2) We wanted a study that combined the existing theory with primary data from real borrowers. By using borrower s specific cases in order to conclude something in general we would use an inductive method (Andersen, 2009). Moreover conducting a survey and personal interviews would secure both a quantitative and a qualitative analysis in our study. This would be a way to first get a representative feedback, and hereafter go in depth with personal interviews. Moreover, by using the responds from questionnaires and personal interviews we would both have a quantitative and a qualitative analysis in our study. This would be a way to first get a representative feedback, and hereafter go in depth with personal interviews. However, some significant changes occurred during the initial process of writing, the most important factor being that it was impossible to find borrowers, who were willing to help, implying a change in the method. The purpose is still the same, but our approach is now deductive. This means that our starting point is based on general knowledge from which we conclude something on specific events (Andersen, 2009), and implies that we are now primarily using a theoretical framework based on secondary data. This framework follows a logical order, starting broadly from the macro economic perspectives and then narrowing down to household level of the problems. In addition, case studies based on in-depth interviews will serve as empirical input to the theoretical analysis. 6

13 Collection of Data The choice of data and sources is first and foremost based on our wish to get as much relevant material for our study in order to cover our topic. Secondly, the data used is based on what was obtainable Initial Data Collection In order to get in contact with borrowers in arrears, our first thought was to use our network, such as family and friends. We hoped, despite the tragic topic, that they might know somebody, who could be suitable for our study. However, finding interviewees turned out to be very difficult, thus contact with experts on the field was initiated instead. Our first expert interview was with Mads Frazier, the Chief of Credit Department at Nykredit, who is responsible for customers in arrears. We had hoped that we could use him as a bridging partner to borrowers in arrears, but due to their policy of confidentiality of their customers this was not possible. However, he did provide us with some good input. Amongst other things he pointed out that banks use a scorecard system and market evaluation to evaluate borrowers, which was also one of our burning issues; we wanted to know what the lending criteria were like in 2005 and These short cuts saved us time and energy on looking for something that was not possible to find. Our second expert interview was with Tove Hansen, chief of customer service department, from Experia-RKI 4. We made an agreement with her, that she would send a cover letter with a kind request to answer our questionnaire, which was made available on-line to all the debtors they needed to send letters to themselves (See Appendix 1). Even though we got this agreement with Experia- RKI, there was no one who answered the on-line questionnaire. Tove Hansen had warned us about the difficulty of getting borrowers to answer such sensitive questions. Experia-RKI had once sent out questionnaires and the response was sparse. While waiting for the response from Experia-RKI, we also tried a so-called house-wife s approach, where we printed a lot of sheets with our contact information and asked for help to our project by people in arrears. We distributed the sheets in different supermarkets around Copenhagen. Neither of the attempts gave any result at all. The last expert we contacted was Jan Swyrtz, who is known from a program called Luksusfælden 4 Denmark s biggest agency for registering and collecting debt 7

14 (translated as The Luxury Trap ). He is a finance consultant and is used to counseling indebted people, who live beyond their means, hoping that he would be able to provide us with some contacts with borrowers in arrears, however we were turned down again due to confidentiality. With all respect to people s privacy we tried to find people in arrears via internet. We found different sites on the internet, e.g. Gældsforum (a forum where indebted people can write to each other seeking help, advice etc). We wrote a contribution urging borrowers to contact us, but with no response here either. We did the same on Mybanker, but with no result. We could see that many had read the contribution, but no one was willing to get in contact with us. 5 In addition to finding borrowers in arrears, our ambition was to find people who were hurt by foreclosures. The only way to meet these people was to attend foreclosure auctions personally. Thus, we attended 12 foreclosure auctions in the period of September through to November in 2008, hoping to get in contact with the borrowers forced to sell their homes. However, only one time out of 12 did we get in contact with the borrower, and that was not fruitful either because the man was in such a bad shape due to what was happening, that he could not focus on talking about it. However, he agreed to answer our questions if we sent it to his , but, unfortunately, he never replied. At all the other foreclosure auctions we attended there were only the creditors present. At that point we realized that we had to change our method. It should be noted though, attending foreclosure auctions gave us an invaluable knowledge and insight into the difficulties that were facing the borrowers in foreclosure; in just 15 minutes people had lost their home, and were deeply indebted Change of Method, Change of Data Collection Due to the impossibility of getting in contact with borrowers in arrears and/or who were forced to give up their homes, we have thus decided to build our analysis on the general findings from other researches (often inspired by studies conducted by Janet Ford), and find people, who could illustrate these findings and give our analysis fruitful empirical data. We used our own networks and finally got five interviewees that fitted into our analysis, and who were willing to talk to us. We want to stress the fact here, that with the limited number of interviews, we do not claim any representativeness of our empirical part of the analysis. The idea of using our case studies in the 5 See homepages: and 8

15 analysis is to support the theoretical findings, to illustrate some interdependence of the hard consequences, and at the same time to illustrate the hardship of the situation actual people can find themselves in. The work carried out consists mostly of desk research of the theory, based on all kinds of published secondary data gathered in the library of the Copenhagen Business School and on the internet in combination with our field research. The desk research gave a good understanding of the situation in the Danish housing market and an overview of the theoretical concepts of macro economic factors, as well as mastering our skills in gathering secondary data from amongst others Statistics Denmark, which are presented in the form of graphs and tables throughout the whole report. In addition we have made telephone interviews with the financial institutions, in order to confirm the data that we collected from their homepage, as well as getting information that was not revealed on their homepages Structure of the Study We start from defining the possible causes for a rise in transactions and prices in the housing market prior to the downturn. We have broadened the scope of the analysis, since the price increase was not possible to explain only by fundamentals. Thereafter, we are addressing the consequences of the downturn. In Part I, the upturn and the downturn in the Danish housing market is analysed. Part II, Hard Consequences, is the core analysis of the thesis, starting broadly with macro economic perspectives of the risks, and then carry on with the risks on household level. The demographical factors and macro-environmental factors are analysed with an assumption of influencing the demand for housing and rise in housing prices in the Danish residential housing market. This is followed by the analysis of the development in the mortgage market, in terms of how the supply of housing finance was prior to the downturn and at the turning point. The consequences of the deflation of the housing bubble are analysed on both macro economic level 9

16 and household s level. The increased risk of borrower is further illustrated through the case studies and the particulars from foreclosures. The resulting plan in Part III is a comparison of the issues from the previous housing crises and the current crisis, where we will look at similarities and new features of this crisis. 6 The overall structure is illustrated in figure below. Fig All calculations are made in DKr. The process of data gathering was finished in the first quarter of

17 1.4. Definitions Throughout this paper we use a number of terms, which we will elaborate on in order to avoid misunderstandings. Borrowers are used for owner-occupiers who have a mortgage and any other loans. However, it can also be used for buyers, because we assume that they will need to take up a mortgage or loan in order to be able to buy. Downturn, as defined in Merriam-Webster Online Dictionary, is a downward turn especially toward a decline in business and economic activity. In our definition we refer to the downturn in the housing market as to the point, when transaction volume of residential property sold started to decline, and also when the housing prices started to decline. Risk refers to situations, events, processes and so on with uncertain or unpredictable variations in outcomes or, as defined by the same dictionary, as possibility of loss or injury and also the degree of probability of such loss. Foreclosure is defined in the same dictionary as a legal proceeding that bars or extinguishes a mortgagor s right of redeeming a mortgaged estate. As we saw it in the courtroom it is the compulsory or voluntary return of a mortgaged property by a borrower to a lender, or to a combination of a lender and creditors at a very unfavourable price. Housing prices throughout the whole analysis are also called for property prices, real estate prices, etc. which give just a variation in language, but not the interpretation of it. Dwelling is the combination of owner-occupied flats and single-family houses, because they are our focus in our study. In case we only look at one of them, we will specifically write the category. Single-family houses are used interchangeably with one-family houses Second homes are dwellings that are only used for vacation and the like. This is only used when statistics did not give the possibility to only choose owner-occupied flats and single-family houses. Real Estate refers to single-family houses and flats, except if otherwise stated Demarcation To restrict the scope of the study to manageable proportions, it is necessary to impose several limitations on the analysis. However, in case of our study the limitations came as a natural part of the process and in most cases were imposed by the relevancy to the title. 11

18 Our first limitation concerns the housing market, where we have chosen to focus on the private residential housing market only and not commercial property market due to the title and the purpose of our analysis. Moreover we have not included co-op properties because the information about the market is scarce. Emphasis is put on the residential market at the national level. Where of particular significance, regional issues are considered, but it is beyond the scope of this study to undertake detailed regional and city analyses. Our focus is on primary used dwellings, i.e. owner-occupied dwellings that are used all year around. In particular single-family houses, since the majority of the Danish population lives in such form of dwellings, and flats because they are popular forms of living in big cities. The time series used for graphs and tables has an overall time frame of 30 years, i.e. Q Q1 2009, as we only include the last two housing downturns prior to this downturn. For our purpose it has not made sense to use a longer time series. Within this time series we have used shorter time series as well. This is based on following: 1) The statistics obtainable is limited to a certain number of years, 2) We only use the time frame that is relevant for the specific case, 3) There has been a change in statistics due to municipality reforms and 4) Change of statistical methods executed by the statistical unit itself Sources and Criticism of Sources The access to the Copenhagen Business School s library simplified the process of gathering the information, and the internet allowed access to the most recent publications about the development of the Danish housing market and recent development of the downturn. However, there was a limit to how much information that can be processed. The housing market developed in tact of our analysis. Sometimes we were ahead, and later on our own findings became just data from the latest statistics. Another criticism concerns the empirical findings of our interviews. The cases are strictly based on what the interviewees have told us, however we know that there are always to sides of the same coin. In order to really go in depth with their stories, we would have had to get documentation, such 12

19 as communication with the financial institutions, loan agreements, etc., that could confirm their stories. Furthermore it would have been necessary to get their stories confirmed by the financial institutions but this has not been possible. 13

20 2. Part I: Prior to the Downturn and the Turning Point Stimulated by strong demand, housing prices increased sharply over the past fourteen years, both in the bigger cities as well as the outlying regions. Housing prices have now exceeded the peak reached in 1986 (the previous housing boom, illustrated in Appendix 2). The peak in transactions was reached in 2005 and has since then been declining. Due to this we find it relevant for our study to investigate which triggers were the most significant in this housing boom and made so many people buy their dwellings, when housing prices almost reached its peak. In this part of the report we observe the situation on the housing market first where we look at whether there were any shifts in demand or supply of housing that could push prices out of equilibrium. In addition, we analyse the macroeconomic factors with the assumption that potential owner-occupiers improved economic situation made them think that housing was affordable to them. We go further and analyse the development of the mortgage market in terms of whether it contributed to the price increase, and how the situation is after the turning point. Finally the closing chapter in this part addresses the psychological variables with the assumption of pushing up the prices, and check whether there were signs of a housing bubble in the Danish housing market Structural Changes in the Owner-Occupied Housing Market The main focus of this chapter is to observe the development of the sales in the real estate market in Denmark prior to year 2005 and at the turnaround. The objective will be to find any significant changes in demographics of the Danish population that could lead to the rise in the trading activities and housing prices, and see if these changes had any impact on the structure of the owner-occupiers. The upturn in the housing market lasted from 1993 to 2007 and therefore this year range will be primarily used through the whole analysis of the prior to the downturn and the turning point. In case of extending or narrowing the year range, it will be particularly explained in the text. Fundamentally the pricing of the real estate depends on the demand and supply of housing units. Inspired by different models suggested in a research made on metropolitan regions (Andersson, et al., 2007), we have come with our own approach. Namely we analyse the demand for housing in terms of development in demographics, and check whether it had any impact on the owner occupation structure. We study the development of the Danish housing stock and analyse whether 14

21 there was any evidence of a lack of supply of housing. We also discuss whether there were any trends that could be observed in the housing markets that could illustrate preferences of a certain kind of housing over others. In this setting, we will study the following factors: Demographics Owner occupation structure Trends among owner-occupiers Supply of housing Development of Prices and Sales of Real Property Since the end of the previous property cycle in 1992, housing prices have been rising rapidly, as illustrated in figure The graph dates back to 1992, but it would have been interesting to have data going back to the last two downturns, in order to see the development in the prices prior to the downturns. However, this has not been possible, as we could not obtain data that was segregated into housing segments, and we have therefore chosen to use the data from Statistics Denmark. Though data dating longer back can be seen in Appendix 2, however the prices are not separated into the two categories. For one-family houses, which are the largest segment of the market, the prices increased with an average yearly growth of 9%, which is more articulated after year For flats, an average growth increased during the period from 1993 to 2006 was about 13% in nominal prices, and from year 2006 they began to fall, which can also be observed in the graph. 15

22 Figure : Development of the price index of one-family houses and flats (Source: Statistics Denmark) The rise in home values was accompanies by increase in a number of transactions, which is illustrated by figure Figure : Annual realised sales of one-family houses and flats (Source: Statistics Denmark) The total number of sales includes all kinds of realised sales, such as ordinary free trade, intrafamily sales, and other sales, where ordinary free trade makes up the most. Figure illustrates 16

Financial Literacy among 5-7 years old children

Financial Literacy among 5-7 years old children Financial Literacy among 5-7 years old children -based on a market research survey among the parents in Denmark, Sweden, Norway, Finland, Northern Ireland and Republic of Ireland Page 1 Purpose of the

Læs mere

Engelsk. Niveau D. De Merkantile Erhvervsuddannelser September Casebaseret eksamen. og

Engelsk. Niveau D. De Merkantile Erhvervsuddannelser September Casebaseret eksamen.  og 052431_EngelskD 08/09/05 13:29 Side 1 De Merkantile Erhvervsuddannelser September 2005 Side 1 af 4 sider Casebaseret eksamen Engelsk Niveau D www.jysk.dk og www.jysk.com Indhold: Opgave 1 Presentation

Læs mere

The X Factor. Målgruppe. Læringsmål. Introduktion til læreren klasse & ungdomsuddannelser Engelskundervisningen

The X Factor. Målgruppe. Læringsmål. Introduktion til læreren klasse & ungdomsuddannelser Engelskundervisningen The X Factor Målgruppe 7-10 klasse & ungdomsuddannelser Engelskundervisningen Læringsmål Eleven kan give sammenhængende fremstillinger på basis af indhentede informationer Eleven har viden om at søge og

Læs mere

Engelsk. Niveau C. De Merkantile Erhvervsuddannelser September 2005. Casebaseret eksamen. www.jysk.dk og www.jysk.com.

Engelsk. Niveau C. De Merkantile Erhvervsuddannelser September 2005. Casebaseret eksamen. www.jysk.dk og www.jysk.com. 052430_EngelskC 08/09/05 13:29 Side 1 De Merkantile Erhvervsuddannelser September 2005 Side 1 af 4 sider Casebaseret eksamen Engelsk Niveau C www.jysk.dk og www.jysk.com Indhold: Opgave 1 Presentation

Læs mere

Statistical information form the Danish EPC database - use for the building stock model in Denmark

Statistical information form the Danish EPC database - use for the building stock model in Denmark Statistical information form the Danish EPC database - use for the building stock model in Denmark Kim B. Wittchen Danish Building Research Institute, SBi AALBORG UNIVERSITY Certification of buildings

Læs mere

Bilag. Resume. Side 1 af 12

Bilag. Resume. Side 1 af 12 Bilag Resume I denne opgave, lægges der fokus på unge og ensomhed gennem sociale medier. Vi har i denne opgave valgt at benytte Facebook som det sociale medie vi ligger fokus på, da det er det største

Læs mere

Sport for the elderly

Sport for the elderly Sport for the elderly - Teenagers of the future Play the Game 2013 Aarhus, 29 October 2013 Ditte Toft Danish Institute for Sports Studies +45 3266 1037 ditte.toft@idan.dk A growing group in the population

Læs mere

Elite sports stadium requirements - views from Danish municipalities

Elite sports stadium requirements - views from Danish municipalities Elite sports stadium requirements - views from Danish municipalities JENS ALM Ph.d. student Malmö University jens.alm@mah.se Analyst Danish Institute for Sports Studies jens.alm@idan.dk Background Definitions

Læs mere

The River Underground, Additional Work

The River Underground, Additional Work 39 (104) The River Underground, Additional Work The River Underground Crosswords Across 1 Another word for "hard to cope with", "unendurable", "insufferable" (10) 5 Another word for "think", "believe",

Læs mere

Øjnene, der ser. - sanseintegration eller ADHD. Professionshøjskolen UCC, Psykomotorikuddannelsen

Øjnene, der ser. - sanseintegration eller ADHD. Professionshøjskolen UCC, Psykomotorikuddannelsen Øjnene, der ser - sanseintegration eller ADHD Professionshøjskolen UCC, Psykomotorikuddannelsen Professionsbachelorprojekt i afspændingspædagogik og psykomotorik af: Anne Marie Thureby Horn Sfp o623 Vejleder:

Læs mere

Appendix 1: Interview guide Maria og Kristian Lundgaard-Karlshøj, Ausumgaard

Appendix 1: Interview guide Maria og Kristian Lundgaard-Karlshøj, Ausumgaard Appendix 1: Interview guide Maria og Kristian Lundgaard-Karlshøj, Ausumgaard Fortæl om Ausumgaard s historie Der er hele tiden snak om værdier, men hvad er det for nogle værdier? uddyb forklar definer

Læs mere

Vores mange brugere på musskema.dk er rigtig gode til at komme med kvalificerede ønsker og behov.

Vores mange brugere på musskema.dk er rigtig gode til at komme med kvalificerede ønsker og behov. På dansk/in Danish: Aarhus d. 10. januar 2013/ the 10 th of January 2013 Kære alle Chefer i MUS-regi! Vores mange brugere på musskema.dk er rigtig gode til at komme med kvalificerede ønsker og behov. Og

Læs mere

Design til digitale kommunikationsplatforme-f2013

Design til digitale kommunikationsplatforme-f2013 E-travellbook Design til digitale kommunikationsplatforme-f2013 ITU 22.05.2013 Dreamers Lana Grunwald - svetlana.grunwald@gmail.com Iya Murash-Millo - iyam@itu.dk Hiwa Mansurbeg - hiwm@itu.dk Jørgen K.

Læs mere

Aktivering af Survey funktionalitet

Aktivering af Survey funktionalitet Surveys i REDCap REDCap gør det muligt at eksponere ét eller flere instrumenter som et survey (spørgeskema) som derefter kan udfyldes direkte af patienten eller forsøgspersonen over internettet. Dette

Læs mere

How Al-Anon Works - for Families & Friends of Alcoholics. Pris: kr. 130,00 Ikke på lager i øjeblikket Vare nr. 74 Produktkode: B-22.

How Al-Anon Works - for Families & Friends of Alcoholics. Pris: kr. 130,00 Ikke på lager i øjeblikket Vare nr. 74 Produktkode: B-22. Bøger på engelsk How Al-Anon Works - for Families & Friends of Alcoholics Al-Anons grundbog på engelsk, der indfører os i Al- Anon programmet. Om Al-Anons historie, om forståelse af os selv og alkoholismen.

Læs mere

Userguide. NN Markedsdata. for. Microsoft Dynamics CRM 2011. v. 1.0

Userguide. NN Markedsdata. for. Microsoft Dynamics CRM 2011. v. 1.0 Userguide NN Markedsdata for Microsoft Dynamics CRM 2011 v. 1.0 NN Markedsdata www. Introduction Navne & Numre Web Services for Microsoft Dynamics CRM hereafter termed NN-DynCRM enable integration to Microsoft

Læs mere

Unitel EDI MT940 June 2010. Based on: SWIFT Standards - Category 9 MT940 Customer Statement Message (January 2004)

Unitel EDI MT940 June 2010. Based on: SWIFT Standards - Category 9 MT940 Customer Statement Message (January 2004) Unitel EDI MT940 June 2010 Based on: SWIFT Standards - Category 9 MT940 Customer Statement Message (January 2004) Contents 1. Introduction...3 2. General...3 3. Description of the MT940 message...3 3.1.

Læs mere

DK - Quick Text Translation. HEYYER Net Promoter System Magento extension

DK - Quick Text Translation. HEYYER Net Promoter System Magento extension DK - Quick Text Translation HEYYER Net Promoter System Magento extension Version 1.0 15-11-2013 HEYYER / Email Templates Invitation Email Template Invitation Email English Dansk Title Invitation Email

Læs mere

NOTIFICATION. - An expression of care

NOTIFICATION. - An expression of care NOTIFICATION - An expression of care Professionals who work with children and young people have a special responsibility to ensure that children who show signs of failure to thrive get the wright help.

Læs mere

ATEX direktivet. Vedligeholdelse af ATEX certifikater mv. Steen Christensen stec@teknologisk.dk www.atexdirektivet.

ATEX direktivet. Vedligeholdelse af ATEX certifikater mv. Steen Christensen stec@teknologisk.dk www.atexdirektivet. ATEX direktivet Vedligeholdelse af ATEX certifikater mv. Steen Christensen stec@teknologisk.dk www.atexdirektivet.dk tlf: 7220 2693 Vedligeholdelse af Certifikater / tekniske dossier / overensstemmelseserklæringen.

Læs mere

Engelsk G Opgaveark. Maj 2011. Dato Prøveafholdende institution Tilsynsførende

Engelsk G Opgaveark. Maj 2011. Dato Prøveafholdende institution Tilsynsførende Engelsk G Opgaveark Maj 2011 Eksaminandens navn Nummer Dato Prøveafholdende institution Tilsynsførende Jeg bekræfter herved med min underskrift, at opgavebesvarelsen er udarbejdet af mig. Jeg har ikke

Læs mere

Trolling Master Bornholm 2013

Trolling Master Bornholm 2013 Trolling Master Bornholm 2013 (English version further down) Tilmeldingen åbner om to uger Mandag den 3. december kl. 8.00 åbner tilmeldingen til Trolling Master Bornholm 2013. Vi har flere tilmeldinger

Læs mere

We hope you have enjoyed your holiday and that you are willing to help us improve our holiday support programme by completing this questionnaire.

We hope you have enjoyed your holiday and that you are willing to help us improve our holiday support programme by completing this questionnaire. Dear holiday-maker We hope you have enjoyed your holiday and that you are willing to help us improve our holiday support programme by completing this questionnaire. The information and answers you provide

Læs mere

Trolling Master Bornholm 2015

Trolling Master Bornholm 2015 Trolling Master Bornholm 2015 (English version further down) Panorama billede fra starten den første dag i 2014 Michael Koldtoft fra Trolling Centrum har brugt lidt tid på at arbejde med billederne fra

Læs mere

Help / Hjælp

Help / Hjælp Home page Lisa & Petur www.lisapetur.dk Help / Hjælp Help / Hjælp General The purpose of our Homepage is to allow external access to pictures and videos taken/made by the Gunnarsson family. The Association

Læs mere

Analyseinstitut for Forskning

Analyseinstitut for Forskning Analyseinstitut for Forskning CIS3 The Danish Non-response Analysis Peter S. Mortensen Notat 2003/1 fra Analyseinstitut for Forskning The Danish Institute for Studies in Research and Research Policy Finlandsgade

Læs mere

Statistik for MPH: 7

Statistik for MPH: 7 Statistik for MPH: 7 3. november 2011 www.biostat.ku.dk/~pka/mph11 Attributable risk, bestemmelse af stikprøvestørrelse (Silva: 333-365, 381-383) Per Kragh Andersen 1 Fra den 6. uges statistikundervisning:

Læs mere

Improving data services by creating a question database. Nanna Floor Clausen Danish Data Archives

Improving data services by creating a question database. Nanna Floor Clausen Danish Data Archives Improving data services by creating a question database Nanna Floor Clausen Danish Data Archives Background Pressure on the students Decrease in response rates The users want more Why a question database?

Læs mere

Handout 1: Eksamensspørgsmål

Handout 1: Eksamensspørgsmål Handout 1: Eksamensspørgsmål Denne vejledning er udfærdiget på grundlag af Peter Bakkers vejledning til jeres eksamensspørgsmål. Hvis der skulle forekomme afvigelser fra Peter Bakkers vejledning, er det

Læs mere

Der var engang 70érne avn i 80érne industrien flytter København i 00 erne opsving København i 00érne København i 2009 Cop 15 København 2010 København 2010 Klimatilpasningsplanen København The Copenhagen

Læs mere

GUIDE TIL BREVSKRIVNING

GUIDE TIL BREVSKRIVNING GUIDE TIL BREVSKRIVNING APPELBREVE Formålet med at skrive et appelbrev er at få modtageren til at overholde menneskerettighederne. Det er en god idé at lægge vægt på modtagerens forpligtelser over for

Læs mere

BILAG 8.1.B TIL VEDTÆGTER FOR EXHIBIT 8.1.B TO THE ARTICLES OF ASSOCIATION FOR

BILAG 8.1.B TIL VEDTÆGTER FOR EXHIBIT 8.1.B TO THE ARTICLES OF ASSOCIATION FOR BILAG 8.1.B TIL VEDTÆGTER FOR ZEALAND PHARMA A/S EXHIBIT 8.1.B TO THE ARTICLES OF ASSOCIATION FOR ZEALAND PHARMA A/S INDHOLDSFORTEGNELSE/TABLE OF CONTENTS 1 FORMÅL... 3 1 PURPOSE... 3 2 TILDELING AF WARRANTS...

Læs mere

Procuring sustainable refurbishment

Procuring sustainable refurbishment SURE den 21. marts 2012 Procuring sustainable refurbishment Niels-Arne Jensen, Copenhagen City Properties (KEjd) Copenhagen Municipality KOMMUNE 1 Agenda About Copenhagen City Properties Background and

Læs mere

Trolling Master Bornholm 2016 Nyhedsbrev nr. 7

Trolling Master Bornholm 2016 Nyhedsbrev nr. 7 Trolling Master Bornholm 2016 Nyhedsbrev nr. 7 English version further down Så var det omsider fiskevejr En af dem, der kom på vandet i en af hullerne, mellem den hårde vestenvind var Lejf K. Pedersen,

Læs mere

Coalitions and policy coordination

Coalitions and policy coordination Coalitions and policy coordination This page intentionally left blank Mikkel Mailand Coalitions and policy coordination Revision and impact of the European Employment Strategy DJØF Publishing Copenhagen

Læs mere

To the reader: Information regarding this document

To the reader: Information regarding this document To the reader: Information regarding this document All text to be shown to respondents in this study is going to be in Danish. The Danish version of the text (the one, respondents are going to see) appears

Læs mere

Skriftlig Eksamen Diskret matematik med anvendelser (DM72)

Skriftlig Eksamen Diskret matematik med anvendelser (DM72) Skriftlig Eksamen Diskret matematik med anvendelser (DM72) Institut for Matematik & Datalogi Syddansk Universitet, Odense Onsdag den 18. januar 2006 Alle sædvanlige hjælpemidler (lærebøger, notater etc.),

Læs mere

1 s01 - Jeg har generelt været tilfreds med praktikopholdet

1 s01 - Jeg har generelt været tilfreds med praktikopholdet Praktikevaluering Studerende (Internship evaluation Student) Husk at trykke "Send (Submit)" nederst (Remember to click "Send (Submit)" below - The questions are translated into English below each of the

Læs mere

Domestic violence - violence against women by men

Domestic violence - violence against women by men ICASS 22 26 august 2008 Nuuk Domestic violence - violence against women by men Mariekathrine Poppel Email: mkp@ii.uni.gl Ilisimatusarfik University of Greenland Violence: : a concern in the Arctic? Artic

Læs mere

Must I be a registered company in Denmark? That is not required. Both Danish and foreign companies can trade at Gaspoint Nordic.

Must I be a registered company in Denmark? That is not required. Both Danish and foreign companies can trade at Gaspoint Nordic. General Questions What kind of information do you need before I can start trading? Please visit our webpage www.gaspointnordic.com under the heading How to become a participant Is it possible to trade

Læs mere

Nyhedsmail, december 2013 (scroll down for English version)

Nyhedsmail, december 2013 (scroll down for English version) Nyhedsmail, december 2013 (scroll down for English version) Kære Omdeler Julen venter rundt om hjørnet. Og netop julen er årsagen til, at NORDJYSKE Distributions mange omdelere har ekstra travlt med at

Læs mere

Trolling Master Bornholm 2016 Nyhedsbrev nr. 3

Trolling Master Bornholm 2016 Nyhedsbrev nr. 3 Trolling Master Bornholm 2016 Nyhedsbrev nr. 3 English version further down Den første dag i Bornholmerlaks konkurrencen Formanden for Bornholms Trollingklub, Anders Schou Jensen (og meddomer i TMB) fik

Læs mere

Den sidste dag i globaliseringsugen, evaluering.

Den sidste dag i globaliseringsugen, evaluering. Den sidste dag i globaliseringsugen, evaluering. ida, katrine og mia. Kommunikation/IT-opgave Hvordan læser man på nettet? Og hvad har det betydet for den måde, i har skrevet jeres artikler på? Når man

Læs mere

Trolling Master Bornholm 2013

Trolling Master Bornholm 2013 Trolling Master Bornholm 2013 (English version further down) Tilmeldingerne til 2013 I dag nåede vi op på 77 tilmeldte både. Det er lidt lavere end samme tidspunkt sidste år. Til gengæld er det glædeligt,

Læs mere

Experience. Knowledge. Business. Across media and regions.

Experience. Knowledge. Business. Across media and regions. Experience. Knowledge. Business. Across media and regions. 1 SPOT Music. Film. Interactive. Velkommen. Program. - Introduktion - Formål og muligheder - Målgruppen - Udfordringerne vi har identificeret

Læs mere

applies equally to HRT and tibolone this should be made clear by replacing HRT with HRT or tibolone in the tibolone SmPC.

applies equally to HRT and tibolone this should be made clear by replacing HRT with HRT or tibolone in the tibolone SmPC. Annex I English wording to be implemented SmPC The texts of the 3 rd revision of the Core SPC for HRT products, as published on the CMD(h) website, should be included in the SmPC. Where a statement in

Læs mere

Trolling Master Bornholm 2016 Nyhedsbrev nr. 8

Trolling Master Bornholm 2016 Nyhedsbrev nr. 8 Trolling Master Bornholm 2016 Nyhedsbrev nr. 8 English version further down Der bliver landet fisk men ikke mange Her er det Johnny Nielsen, Søløven, fra Tejn, som i denne uge fangede 13,0 kg nord for

Læs mere

Remember the Ship, Additional Work

Remember the Ship, Additional Work 51 (104) Remember the Ship, Additional Work Remember the Ship Crosswords Across 3 A prejudiced person who is intolerant of any opinions differing from his own (5) 4 Another word for language (6) 6 The

Læs mere

Sustainable use of pesticides on Danish golf courses

Sustainable use of pesticides on Danish golf courses Indsæt nyt billede: Sustainable use of pesticides on Danish golf courses Anita Fjelsted - Danish EPA Ministry of the Environment 27 May 2015 - STERF The Danish Environmental Protection Agency 450 employees

Læs mere

From innovation to market

From innovation to market Nupark Accelerace From innovation to market Public money Accelerace VC Private Equity Stock market Available capital BA 2 What is Nupark Accelerace Hands-on investment and business developmentprograms

Læs mere

Voice of the People. Manuscript The Parliament in Latvia TVMV, Denmark. Production-team: Reporter: Jesper Mortensen

Voice of the People. Manuscript The Parliament in Latvia TVMV, Denmark. Production-team: Reporter: Jesper Mortensen Voice of the People Manuscript The Parliament in Latvia TVMV, Denmark Production-team: Reporter: Jesper Mortensen Photographer: Lars Damgaard Nielsen Editing: Jesper Mortensen Places of shooting: Riga,

Læs mere

Trolling Master Bornholm 2014

Trolling Master Bornholm 2014 Trolling Master Bornholm 2014 (English version further down) Så er ballet åbnet, 16,64 kg: Det er Kim Christiansen, som i mange år også har deltaget i TMB, der tirsdag landede denne laks. Den måler 120

Læs mere

Statistik for MPH: oktober Attributable risk, bestemmelse af stikprøvestørrelse (Silva: , )

Statistik for MPH: oktober Attributable risk, bestemmelse af stikprøvestørrelse (Silva: , ) Statistik for MPH: 7 29. oktober 2015 www.biostat.ku.dk/~pka/mph15 Attributable risk, bestemmelse af stikprøvestørrelse (Silva: 333-365, 381-383) Per Kragh Andersen 1 Fra den 6. uges statistikundervisning:

Læs mere

Small Autonomous Devices in civil Engineering. Uses and requirements. By Peter H. Møller Rambøll

Small Autonomous Devices in civil Engineering. Uses and requirements. By Peter H. Møller Rambøll Small Autonomous Devices in civil Engineering Uses and requirements By Peter H. Møller Rambøll BACKGROUND My Background 20+ years within evaluation of condition and renovation of concrete structures Last

Læs mere

Sports journalism in the sporting landscape

Sports journalism in the sporting landscape Sports journalism in the sporting landscape - Blind spots of the journalists Foto: Bjørn Giesenbauer/Flickr Play the Game 2013 Aarhus, 30 October 2013 Ditte Toft Danish Institute for Sports Studies/Play

Læs mere

Danish Language Course for International University Students Copenhagen, 12 July 1 August Application form

Danish Language Course for International University Students Copenhagen, 12 July 1 August Application form Danish Language Course for International University Students Copenhagen, 12 July 1 August 2017 Application form Must be completed on the computer in Danish or English All fields are mandatory PERSONLIGE

Læs mere

Reexam questions in Statistics and Evidence-based medicine, august sem. Medis/Medicin, Modul 2.4.

Reexam questions in Statistics and Evidence-based medicine, august sem. Medis/Medicin, Modul 2.4. Reexam questions in Statistics and Evidence-based medicine, august 2013 2. sem. Medis/Medicin, Modul 2.4. Statistics : ESSAY-TYPE QUESTION 1. Intelligence tests are constructed such that the average score

Læs mere

How Al-Anon Works - for Families & Friends of Alcoholics. Pris: kr. 130,00 Ikke på lager i øjeblikket Vare nr. 74 Produktkode: B-22.

How Al-Anon Works - for Families & Friends of Alcoholics. Pris: kr. 130,00 Ikke på lager i øjeblikket Vare nr. 74 Produktkode: B-22. Bøger på engelsk How Al-Anon Works - for Families & Friends of Alcoholics Al-Anons grundbog på engelsk, der indfører os i Al- Anon programmet. Om Al-Anons historie, om forståelse af os selv og alkoholismen.

Læs mere

Bilag. Indhold. Resumé

Bilag. Indhold. Resumé Bilag Indhold Resumé... 1 Abstract... 2 Indgang og ventetid... 3 Resumé Dette projekt forklarer, hvilke værdier samfundet er udviklet igennem, og hvordan disse har haft en effekt på individet. For at gøre

Læs mere

- man sov tæt på belægningsstuerne

- man sov tæt på belægningsstuerne Præsenteret af: - man sov tæt på belægningsstuerne I belægningsstuen var der plads til 26 soldater: 24 menige soldater i dobbeltmands køjesenge og to befalingsmænd i enkeltmands køjesenge. Der var plads

Læs mere

Brug af logbog i undervisning. Karen Lauterbach Center for Afrikastudier Adjunktpædagogikum 19. Juni 2013

Brug af logbog i undervisning. Karen Lauterbach Center for Afrikastudier Adjunktpædagogikum 19. Juni 2013 Brug af logbog i undervisning Karen Lauterbach Center for Afrikastudier Adjunktpædagogikum 19. Juni 2013 Motivation og projektidé Modsætning mellem undervisningsideal (deltagende og reflekterende studerende

Læs mere

BILAG 8.1.F TIL VEDTÆGTER FOR EXHIBIT 8.1.F TO THE ARTICLES OF ASSOCIATION FOR

BILAG 8.1.F TIL VEDTÆGTER FOR EXHIBIT 8.1.F TO THE ARTICLES OF ASSOCIATION FOR BILAG 8.1.F TIL VEDTÆGTER FOR ZEALAND PHARMA A/S EXHIBIT 8.1.F TO THE ARTICLES OF ASSOCIATION FOR ZEALAND PHARMA A/S INDHOLDSFORTEGNELSE/TABLE OF CONTENTS 1 FORMÅL... 3 1 PURPOSE... 3 2 TILDELING AF WARRANTS...

Læs mere

Methods to increase qualifications for energy savings in buildings

Methods to increase qualifications for energy savings in buildings Methods to increase qualifications for energy savings in buildings By Iben Østergaard The Danish government has a goal 2025 decrease 25 % RE from 19 to 30 % One tool is the national Knowledge Centre for

Læs mere

Nyhedsmail, november 2013 (scroll down for English version)

Nyhedsmail, november 2013 (scroll down for English version) Nyhedsmail, november 2013 (scroll down for English version) Kære Omdeler Uret er stillet til vintertid, og antallet af lyse timer i døgnet er fortsat faldende. Vintermørket er kort sagt over os, og det

Læs mere

Patientinddragelse i forskning. Lars Henrik Jensen Overlæge, ph.d., lektor

Patientinddragelse i forskning. Lars Henrik Jensen Overlæge, ph.d., lektor Patientinddragelse i forskning Lars Henrik Jensen Overlæge, ph.d., lektor BMC Health Services Research 2014, 14:89 142 studies that described a spectrum of engagement Engagement was feasible in most settings

Læs mere

Velfærdsteknologi i det nordiske samarbejde Seniorrådgiver Dennis C. Søndergård, Nordens Velfærdscenter

Velfærdsteknologi i det nordiske samarbejde Seniorrådgiver Dennis C. Søndergård, Nordens Velfærdscenter TROMSØ 2015 Velfærdsteknologi i det nordiske samarbejde Seniorrådgiver Dennis C. Søndergård, Nordens Velfærdscenter 18-06-2015 Nordic Centre for Welfare and Social Issues 1 Nordisk Ministerråd Blandt verdens

Læs mere

Kommune og Amts Revision Danmark Statsautoriseret Revisionsaktieselskab

Kommune og Amts Revision Danmark Statsautoriseret Revisionsaktieselskab Kommune og Amts Revision Danmark Statsautoriseret Revisionsaktieselskab RESULTATOPGØRELSE 1. JANUAR - 31. DECEMBER Note 23 Nettoomsætning Andre eksterne omkostninger Bruttoresultat 1 Afskrivninger Resultat

Læs mere

Kvant Eksamen December 2010 3 timer med hjælpemidler. 1 Hvad er en continuous variable? Giv 2 illustrationer.

Kvant Eksamen December 2010 3 timer med hjælpemidler. 1 Hvad er en continuous variable? Giv 2 illustrationer. Kvant Eksamen December 2010 3 timer med hjælpemidler 1 Hvad er en continuous variable? Giv 2 illustrationer. What is a continuous variable? Give two illustrations. 2 Hvorfor kan man bedre drage konklusioner

Læs mere

Fag: Engelsk Niveau E Casearbejdsdag 12-01-2015

Fag: Engelsk Niveau E Casearbejdsdag 12-01-2015 De merkantile Erhvervsuddannelser Januar 2015 Casebaseret eksamen Fag: Engelsk Niveau E Casearbejdsdag 12-01-2015 All information needed for this case is available at: http://www.emu.dk/soegning?f%5b0%5d=field_omraade%3a5463&f%5b1%5d=field_fag1%3a13

Læs mere

Measuring the Impact of Bicycle Marketing Messages. Thomas Krag Mobility Advice Trafikdage i Aalborg, 27.08.2013

Measuring the Impact of Bicycle Marketing Messages. Thomas Krag Mobility Advice Trafikdage i Aalborg, 27.08.2013 Measuring the Impact of Bicycle Marketing Messages Thomas Krag Mobility Advice Trafikdage i Aalborg, 27.08.2013 The challenge Compare The pilot pictures The choice The survey technique Only one picture

Læs mere

Trolling Master Bornholm 2015

Trolling Master Bornholm 2015 Trolling Master Bornholm 2015 (English version further down) Sæsonen er ved at komme i omdrejninger. Her er det John Eriksen fra Nexø med 95 cm og en kontrolleret vægt på 11,8 kg fanget på østkysten af

Læs mere

Bilag 1: Ekspertinterview m. Karen Sjørup

Bilag 1: Ekspertinterview m. Karen Sjørup Bilag 1: Ekspertinterview m. Karen Sjørup Vi har haft en mailkorrespondance med Lektor fra Roskilde Universitet Karen Sjørup, hvoraf vi har anvendt en række citater. Denne vil fremgå i det følgende afsnit.

Læs mere

POSitivitiES Positive Psychology in European Schools HOW TO START

POSitivitiES Positive Psychology in European Schools HOW TO START POSitivitiES Positive Psychology in European Schools HOW TO START POSitivitiES Positive Psychology in European Schools PositivitiES er et Comenius Multilateral europæisk projekt, som har til formål at

Læs mere

Brug sømbrættet til at lave sjove figurer. Lav fx: Få de andre til at gætte, hvad du har lavet. Use the nail board to make funny shapes.

Brug sømbrættet til at lave sjove figurer. Lav fx: Få de andre til at gætte, hvad du har lavet. Use the nail board to make funny shapes. Brug sømbrættet til at lave sjove figurer. Lav f: Et dannebrogsflag Et hus med tag, vinduer og dør En fugl En bil En blomst Få de andre til at gætte, hvad du har lavet. Use the nail board to make funn

Læs mere

Trolling Master Bornholm 2014

Trolling Master Bornholm 2014 Trolling Master Bornholm 2014 (English version further down) Den ny havn i Tejn Havn Bornholms Regionskommune er gået i gang med at udvide Tejn Havn, og det er med til at gøre det muligt, at vi kan være

Læs mere

Strategic Capital ApS has requested Danionics A/S to make the following announcement prior to the annual general meeting on 23 April 2013:

Strategic Capital ApS has requested Danionics A/S to make the following announcement prior to the annual general meeting on 23 April 2013: Copenhagen, 23 April 2013 Announcement No. 9/2013 Danionics A/S Dr. Tværgade 9, 1. DK 1302 Copenhagen K, Denmark Tel: +45 88 91 98 70 Fax: +45 88 91 98 01 E-mail: investor@danionics.dk Website: www.danionics.dk

Læs mere

USERTEC USER PRACTICES, TECHNOLOGIES AND RESIDENTIAL ENERGY CONSUMPTION

USERTEC USER PRACTICES, TECHNOLOGIES AND RESIDENTIAL ENERGY CONSUMPTION USERTEC USER PRACTICES, TECHNOLOGIES AND RESIDENTIAL ENERGY CONSUMPTION P E R H E I S E L BERG I N S T I T U T F OR BYGGERI OG A N L Æ G BEREGNEDE OG FAKTISKE FORBRUG I BOLIGER Fra SBi rapport 2016:09

Læs mere

Danish Language Course for Foreign University Students Copenhagen, 13 July 2 August 2016 Advanced, medium and beginner s level.

Danish Language Course for Foreign University Students Copenhagen, 13 July 2 August 2016 Advanced, medium and beginner s level. Danish Language Course for Foreign University Students Copenhagen, 13 July 2 August 2016 Advanced, medium and beginner s level Application form Must be completed on the computer in Danish or English All

Læs mere

Titel: Hungry - Fedtbjerget

Titel: Hungry - Fedtbjerget Titel: Hungry - Fedtbjerget Tema: fedme, kærlighed, relationer Fag: Engelsk Målgruppe: 8.-10.kl. Data om læremidlet: Tv-udsendelse: TV0000006275 25 min. DR Undervisning 29-01-2001 Denne pædagogiske vejledning

Læs mere

BUTIK, KAFFEBAR ELLER CAFE. Nørrebrogade 45A, 2200 København N Sag 163791R (HT)

BUTIK, KAFFEBAR ELLER CAFE. Nørrebrogade 45A, 2200 København N Sag 163791R (HT) BUTIK, KAFFEBAR ELLER CAFE Nørrebrogade 45A, 2200 København N Sag 163791R (HT) BELIGGENHED Ejendommen er beliggende på hjørnet af Nørrebrogade/Stengade i et af Københavns mest trendy områder med kaffebarer,

Læs mere

Sikkerhed & Revision 2013

Sikkerhed & Revision 2013 Sikkerhed & Revision 2013 Samarbejde mellem intern revisor og ekstern revisor - og ISA 610 v/ Dorthe Tolborg Regional Chief Auditor, Codan Group og formand for IIA DK RSA REPRESENTATION WORLD WIDE 300

Læs mere

Appendix. Side 1 af 13

Appendix. Side 1 af 13 Appendix Side 1 af 13 Indhold Appendix... 3 A: Interview Guides... 3 1. English Version: Rasmus Ankær Christensen and Hanne Krabbe... 3 2. Dansk Oversættelse - Rasmus Ankær Christensen og Hanne Krabbe...

Læs mere

Skriftlig Eksamen Kombinatorik, Sandsynlighed og Randomiserede Algoritmer (DM528)

Skriftlig Eksamen Kombinatorik, Sandsynlighed og Randomiserede Algoritmer (DM528) Skriftlig Eksamen Kombinatorik, Sandsynlighed og Randomiserede Algoritmer (DM58) Institut for Matematik og Datalogi Syddansk Universitet, Odense Torsdag den 1. januar 01 kl. 9 13 Alle sædvanlige hjælpemidler

Læs mere

Implementing SNOMED CT in a Danish region. Making sharable and comparable nursing documentation

Implementing SNOMED CT in a Danish region. Making sharable and comparable nursing documentation Implementing SNOMED CT in a Danish region Making sharable and comparable nursing documentation INTRODUCTION Co-operation pilot project between: The Region of Zealand Their EHR vendor - CSC Scandihealth

Læs mere

Arbitration in Denmark

Arbitration in Denmark Arbitration in Denmark Steffen Pihlblad Christian Lundblad Claus Søgaard-Christensen DJØF PUBLISHING Arbitration in Denmark Eds. Grith Skovgaard Ølykke Carina Risvig Hansen Steffen Pihlblad, Christina

Læs mere

Agenda Subject Time Status Annex Comments

Agenda Subject Time Status Annex Comments Board Meeting - Draft Agenda Wednesday, January, 30 th From 15.00 to 20.00 19.30: Dinner Agenda 1, Annex 01 Agenda Subject Time Status Annex Comments 1. Welcome and approval of the agenda 15.00 15.10 01

Læs mere

Witt Hvidevarer A/S. Kontorchef Camilla Hesselby. 2. maj 2011

Witt Hvidevarer A/S. Kontorchef Camilla Hesselby. 2. maj 2011 Witt Hvidevarer A/S Kontorchef Camilla Hesselby 2. maj 2011 Witt Hvidevarer A/S Witt: Import/distribution af hårde hvidevarer, støvsugere, herunder robot-støvsugere og robotgulvvaskere, og små el-apparater.

Læs mere

Danish language study for foreign nationals in Copenhagen

Danish language study for foreign nationals in Copenhagen Københavns Kommune Danskuddannelse for udlændinge i København Den treårige uddannelsesperiode Denne pjece henvender sig til udlændinge, der bor i København, og som enten: Skal i gang med den treårige danskuddannelse

Læs mere

Traffic Safety In Public Transport

Traffic Safety In Public Transport Traffic Safety In Public Transport 13 October 2014 Arriva Denmark 2 Arriva Denmark Arriva has been part of public transport in Denmark since 1997 Arriva Denmark provides passenger transport by bus, train

Læs mere

Solvency II Clarification of current regulations

Solvency II Clarification of current regulations www.pwc.dk Clarification of current regulations SIX Financial Information 24th of Jette Lunding Sandqvist, Actuary, Director Revision. Skat. Rådgivning. Agenda What s in focus? A view from an actuary What

Læs mere

Developing a tool for searching and learning. - the potential of an enriched end user thesaurus

Developing a tool for searching and learning. - the potential of an enriched end user thesaurus Developing a tool for searching and learning - the potential of an enriched end user thesaurus The domain study Focus area The domain of EU EU as a practical oriented domain and not as a scientific domain.

Læs mere

Eksempel på eksamensspørgsmål til caseeksamen

Eksempel på eksamensspørgsmål til caseeksamen Eksempel på eksamensspørgsmål til caseeksamen Engelsk niveau E, TIVOLI 2004/2005: in a British traveller s magazine. Make an advertisement presenting Tivoli as an amusement park. In your advertisement,

Læs mere

FOKUSGRUPPE TYSKLAND. LOGSTOR Claus Brun

FOKUSGRUPPE TYSKLAND. LOGSTOR Claus Brun FOKUSGRUPPE TYSKLAND LOGSTOR Claus Brun Market overview Customer Segments Contractors End User Consulting Engineer 60% of turnover Main Focus: 1. Price 2. Delivery performance 3. Product Quality 25% of

Læs mere

Implementation of the Building directive in Denmark. Contents. (from a layman in urban planning)

Implementation of the Building directive in Denmark. Contents. (from a layman in urban planning) Implementation of the Building directive in Denmark Contents (from a layman in urban planning) 3 Average temperature ( C) 4 Hours of sunshine FEMSEK the new secretariat for the Danish Schemes Background

Læs mere

Åbenrå Orienteringsklub

Åbenrå Orienteringsklub Åbenrå Orienteringsklub Velkommen til det ægte orienteringsløb på Blå Sommer 2009 Din gruppe har tilmeldt spejdere til at deltage i det ægte orienteringsløb på Blå Sommer 2009. Orienteringsløbet gennemføres

Læs mere

BIM in Denmark - ICT in Denmark

BIM in Denmark - ICT in Denmark BIM in Denmark - ICT in Denmark Presentation for SIA Switzerland June 9th 2016 Agenda 1. Who is this guy? 2. A bit about the BIM hype 3. Lessons learned 4. What now Switzerland? Tore Hvidegaard Slide 1

Læs mere

New Hospital & New Psychiatry Bispebjerg

New Hospital & New Psychiatry Bispebjerg The Bispebjerg Construction Project EUHPN, October 2012 Hospital plan for the Capital Region A major restructuring project of the Danish hospital structure is now taking place. Each of the 5 regions develops

Læs mere

Subject to terms and conditions. WEEK Type Price EUR WEEK Type Price EUR WEEK Type Price EUR WEEK Type Price EUR

Subject to terms and conditions. WEEK Type Price EUR WEEK Type Price EUR WEEK Type Price EUR WEEK Type Price EUR ITSO SERVICE OFFICE Weeks for Sale 31/05/2015 m: +34 636 277 307 w: clublasanta-timeshare.com e: roger@clublasanta.com See colour key sheet news: rogercls.blogspot.com Subject to terms and conditions THURSDAY

Læs mere

Trolling Master Bornholm 2016 Nyhedsbrev nr. 3

Trolling Master Bornholm 2016 Nyhedsbrev nr. 3 Trolling Master Bornholm 2016 Nyhedsbrev nr. 3 English version further down Fremragende vejr og laks hele vejen rundt om øen Weekendens fremragende vejr (se selv de bare arme) lokkede mange bornholmske

Læs mere

YNKB TEMA 6. Adventure Playgrounds Copenhagen 2003

YNKB TEMA 6. Adventure Playgrounds Copenhagen 2003 YNKB TEMA 6 YNKB TEMA 6-2003 Baldersgade 70 st tv DK 2200 N tlf +45 35851037 fax +45 35851837 www.ynkb.dk ISSN 1602-2815 Adventure Playgrounds Copenhagen 2003 The idea for adventure playgrounds originated

Læs mere