May 2002 Edition
RECOVERY
The World Bank is expecting recovery in the developing world to be led by East Asia, which is forecast to grow by 5.2 per cent in 2002 and by 6.9 per cent in 2003. By contrast, it expects Latin America and the Caribbean to grow by only 0.5 per cent this year. The Middle East and Africa will be the slowest-growing developing regions in 2003 and 2004.
SPAM
The company that manufactures the infamous luncheon meat expects to make their 6 billionth can of Spam in April. Worldwide, 3.1 cans of Spam are consumed every second. In the U.S., more Spam is eaten in Hawaii than in any other state, about 4.3 cans per resident per year. Other states with big Spam consumption are Alaska, Arkansas, Texas and Alabama. In England, Spam has a 2,000 member Spam fan club. The name Spam is registered in 111 countries.
AGE
The world's oldest known photograph--a French picture photographed in 1825--was recently sold to France's national library for US$625,000. The picture, a facsimile of a 17th century Flemish print, would have sold for more but the market was restricted by a French government order making it a national treasure which required it to stay in France.
TECHNOLOGY
The world's first talking washing machine is about to go on sale in India developed for the growing middle class who are no longer able to afford servants. Equipped with a vocabulary of more than 90 English and Hindi phrases, the Electrolux Kelvinator was developed after Indian customers said they wanted a washer that told them what to do. It uses simple phrases such as "Drop the detergent, close the lid and relax" and "Getting ready--please wait" accompanied by tinkling piano keys or a trumpet fanfare.
FILMS
Led by revenues from foreign movies, film distributors and videocassette wholesalers posted a record C$2.5 billion in total revenue in 1999/2000, easily eclipsing the C$2.3 billion mark reached in 1998/99. Revenue growth of 20.7 per cent in the pay television market and 14.0 per cent in the home video market contributed significantly to the record total. But with expenses growing faster than revenues, profits fell for the second year in a row, ( 17.6 per cent to C$271.5 million).
SELECTION
Scientists think they have figured out what goes on in the brain when a shopper browsing decides to buy something. The minds "shopping centre" --the part that becomes active when we select one brand of cola or ketchup over another--has been pinpointed in the right parietal cortex, a region of the brain just above and at the back of the right ear. In the not-too-distant-future, manufacturers of cereals, soft drinks and ketchup could be screening customers' brains to find out why one brand sells better than another.
EDUCATION
Among the Masai in Africa, the brightest children are sent off with the goats. School is for those less smart. The Masai contend that it takes brains to identify each animal, find water and ward off rustlers. Herders rely on their children's labour, so many feel that time spent with books is wasted. Barely one Masai in ten can read.
TRADE
Despite having signed a trade agreement with the U.S. in 2000, Vietnam's trade with China is growing faster than with any other country. Official trade has grown from US$955 million in 1998 to US$3 billion in 2001. In the north of the country, many Chinese goods are smuggled across the border into Vietnam including: knock-off clothes, complete with "Made in Italy" labels, cooking pots, suitcases, car parts, stationery, toys, mobile phones, plastic plants and even foods.
E-COMMERCE
Business-to-business transactions dominated U.S. electronic commerce in 2000 according to the Census Bureau. Such sales make up 94 per cent of e-commerce transactions. The manufacturing industry led all sectors surveyed with total e-commerce shipments of US$777 billion. Results came from surveys covering a total of 125,000 businesses in the manufacturing, wholesale, services and retail sectors.
WATER
The United Nations is warning that 2.7 billion people will face severe water shortages by the year 2025 if the world continues consuming water at the same rate. Another 2.5 billion people will live in areas where it will be difficult to find sufficient fresh water to meet their needs. The areas most at risk are in the semi-arid regions of sub-Saharan Africa and Asia. However, at least 120 million people living in Europe--one in seven of the population--still do not have access to clean water and sanitation.
LABELS
The U.S. Food and Drug Administration (FDA) has said that companies must do more testing before they label food as free of genetically engineered ingredients. Critics of biotechnology pressed the previous administration to label gene-altered ingredients as such, but the FDA instead has proposed the labelling rules for foods that are biotech free. The agency would likely allow genetically modified ingredients to make up no more than about one per cent of officially biotech-free foods.
CITIES
According to a recent Merrill Lynch of New York survey, Toronto and Calgary are the only healthy office markets in North America. And Montreal and Vancouver are two of only seven North American cities or markets that the financial management company considers to be stable. The study showed that the four Canadian cities are in far better shape than their U.S. counterparts. The study looked at 75 markets in 40 U.S. cities and four Canadian cities.
PRIVATIZATION
Two of Russia's top oil companies, a telecommunications giant and a major airline are among the hundreds of companies that the Russian government is planning to sell its stakes in this year. The privatization plan includes over 600 agricultural, defense, automobile enterprises, mass media companies and banks.
MEASUREMENTS
Britain's euro-sceptics are incensed that the European Union plans to produce a list of standard garment sizes for the 15-nation community--in metric. There are now various sizing systems in Europe.: a British size 12 equals a size 38 in Germany and the Netherlands, a C38 in Norway, Sweden and Finland, a 40 in Belgium, a 44 in Italy and a 44\46 in Portugal and Spain. In the U.S. this would be a 10. Under the new system 74 centimetres would mean just that from Athens to Zeebrugge. A draft standard will be available at the end of this year.
GROWTH
Scientists have managed to make chunks of fish grow by soaking them in a broth of nutrients. This suggests that meat could be manufactured. Chunks of goldfish muscle grew 14 per cent after a week immersed in a nutrient-enriched liquid extracted from the blood of unborn calves.
EMISSIONS
Sports Utility Vehicles (SUV's) in Canada are to be re-classified as cars in order to lower their emissions. SUV's have evaded the regulations that were put in place for passenger vehicles. By placing SUV's in the same category as cars, manufacturers will be forced to produce vehicles that conform to higher emission standards. New SUV's will emit one-twentieth of the pollution of current models.
CAMERAS
Digital camera penetration of U.S. Internet households reached 33 per cent in 2001. A new survey indicates that penetration could reach as high as 60 per cent by the end of 2002. Only 20 per cent of U.S. Internet-connected households have not considered purchasing a digital camera. 19 per cent of digital camera users say they no longer use film, up from 10 per cent of camera users in 2000.
TRENDS
Employment agencies in Britain have spotted a growing trend for companies to appeal to the vanity of employees by offering them fancy titles--while keeping their pay rates firmly down. The trend is so common it is now referred to as "uptitling." In a survey of 1,700 workers across the country it was found that many large companies have taken to uptitling in a bid to keep staff happy without handing out raises.
JAPAN
A key government panel in Japan has concluded that the country needs to pursue bilateral free-trade agreements to survive increased global competition. Japan has just signed its first FTA with Singapore. The pact removes tariffs on 94 per cent of Singapore's exports to Japan. Singapore in turn will scrap tariffs on goods imported from Japan. Japan is studying similar agreements with South Korea and Mexico.
MAKEOVER
In Britain, Mars bars are to be given a less macho image in a bid to make it more appealing to women. In a US$10 million dollar makeover, the biggest in 70 years, the snack will be given a fluffier filling and new packaging in a bid to boost sales.
DAYLIGHT
Pakistan has become the first South Asian country to observe daylight savings time. The country is now six hours ahead of GMT. The government says the move is an experiment and will save electricity by reducing the time people need lights in the evening.
INVESTMENT
The U.S. is still by far the largest direct investor in Canada, according to statistics Canada. And in turn, the U.S. was the primary destination for Canadian investment abroad. With investments of $215 billion in 2001, the U.S. accounted for 67 per cent of direct investment in Canada, up from 63 per cent in 2000. In contrast, Canadians made 51 per cent of their direct investments abroad--worth a total of $198 billion--in the U.S.
UNFAIR
Japan, the European Union and China came in for the heaviest criticism by the U.S. administration in a report spotlighting trade barriers against U.S. exporters. In all, the report cited 52 countries and three trading blocks. Canada is cited for provincial timber-cutting regimes and the Canadian Wheat Board's export monopoly. The report devotes much more space to Japan, followed by the 15-country European Union and China, which for the past two years has had the largest surplus of trade with the U.S.
LIFESTYLE
According to a book released by a U.S.-based environmental group, British Columbians live longer, consume less energy and live in better-managed cities than their counterparts elsewhere in the Pacific Northwest. Greater Vancouver is doing a better job of containing population sprawl than Seattle or Portland and residents can expect an extra two years to enjoy their surroundings. The study looks at 10 quality of life indicators ranging from health and population to energy consumption and salmon productivity.
WINNING
A Thai street hawker briefly became a winner by answering all 16 straight questions correctly in the Thai version of "Who Wants to be a Millionaire." Organizers apologised when it was learned that a technician had accidentally plugged the wrong cable into the contestant's computer monitor feeding her the correct answers.
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