In order to carry through the full impact of the particle with which this verse begins, the Good News Translation has translated No! (so also New English Bible), though one could employ “but,” “on the contrary,” or “surely … not.” In some languages one cannot use a negative such as “no.” Rather, it is necessary to employ an entire negative expression—for example, “that is not the way it should be.” However, the contrast between verses 11 and 10 may be indicated by a connective such as “but on the other hand” or “but in contrast with this.”
The remainder of this verse may be understood in one of three ways: (1) We believe and are saved by the grace of the Lord Jesus, just as they are (saved), a present experience. This viewpoint is also followed by Moffatt, Jerusalem Bible, and New English Bible. (2) “We believe that we shall be saved through the grace of the Lord Jesus, just as they will” (Revised Standard Version), a reference to the future. (3) “We believe we have been saved through the grace of the Lord Jesus Christ, just as they have,” a past fact. The reason for these three different interpretations is the use of the aorist infinitive in the Greek phrase “we believe to be saved.” The infinitive “to be saved” may refer to a past fact, a future possibility, or a present reality that expresses a timeless truth; and many modern exegetes believe that this context points more naturally to the last of these possibilities.
Regardless of the tense of the verb selected to render the word believe, this must be satisfactorily combined with the following expression for saved. In languages where an active form is required, one may say “we believe that God saves us.” However, this salvation must also be meaningfully connected to the expression of grace—for example, “God saves us through the kindness (grace or favor) which the Lord Jesus showed us.”
The last clause just as they are may be rendered in some languages as “and God saved them in the same way.”
Quoted with permission from Newman, Barclay M. and Nida, Eugene A. A Handbook on The Acts of the Apostles. (UBS Handbook Series). New York: UBS, 1972. For this and other handbooks for translators see here .

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