August 2004 Edition
BILLIONS
The Russian capital Moscow now boasts more billionaires than any other city in the world, according to a survey by Forbes magazine. The study also estimates that a quarter of Russian wealth is now concentrated in the hands of just 100 people. Just a dozen years after the fall of communism, the Russian capital is home to 33 billionaires according to Forbes, while New York has just 31.
PAPER
A paper disc that can hold up to five times more data than current DVDs has been developed by two Japanese companies. The disc is 51 per cent paper and could offer foolproof security. Since a paper disc can be cut by scissors easily, it is simple to preserve data security when disposing of the disc. The disc is based on blue-laser DVD research and can hold 25 gigabytes of information, compared to the current limit of 4.7 gigabytes for a standard DVD.
CREDIT
A Spanish nightclub is giving guests a chance to pay for drink and admission by using a tiny microchip that is planted under their skin. The VeriChip, a U.S. product, can be injected into any part of the body as long as it can be flashed in front of a scanner.
ASSETS
The value of assets held abroad by Canadians in 2003 decreased for the first time since 1948. Assets held abroad by Canadians reached C$399-billion, down from a record C$429-billion at the end of 2002. At the same time, foreign direct investment in Canada rose to C$358-billion, up from C$349-billion at the end of 2002. Direct investment assets in the U.S. by Canadians declined by C$32-billion to C$165-billion. The strong Canadian dollar lowered the value of overseas assets by C$55-billion.
SADNESS
A psychologist with the Carnegie Mellon University warns people who are feeling sad not to buy or sell anything, and to stay away from Ebay or other shopping sites, until they cheer up. This is because people tend to pay considerably more for an item when they are sad. Also, feelings of disgust can lead people to sell things at a lower price than they would otherwise.
TRADE
According to a report by the Korea International Trade Association or KITA, South Korea's share of outbound and inbound shipments took up 38 per cent of the total volume of trade conducted in Northeast Asia last year. That's higher than Japan's 31 per cent but lower than China's 40 per cent, Three-way trade between among South Korea, Japan and China totalled US$493-billion, accounting for nearly 24 per cent of the world's trade volume in 2003.
HEALTHY
Architects are designing a new generation of "fit" office buildings that encourage employees to become healthier by countering the chair-bound culture. Some of their ideas: Meeting rooms and cafeterias situated far away from offices: "Skip stop" elevators that discourage their use by stopping only at every third floor: Positioning corporate works of art so as to attract employees up stairs rather than using elevators.
COLOUR
A truly blue rose, according to experts, would capture five per cent of the billion-dollar international cut flower market. Now, two U.S. biochemists have accidentally found a liver enzyme that turns bacteria blue and have patented the process. If they can capitalize on their discovery by moving the gene into plants, they could produce a blue rose.
FOOD
If the combined forces of France's wine industry and the majority of French parliamentarians have their way, wine is to be reclassified as a natural food rather than an alcoholic drink. The change would allow wine makers greater latitude in advertising their product at a time when French wine consumption is falling. Forty years ago, the average French consumer drank 134 bottles of wine a year compared to only 77 today. The fall is blamed on changes in working habits, the arrival of numerous new alcoholic and non-alcoholic drinks and government anti-drinking campaigns.
VISAS
According to a study by eight trade associations, U.S. companies have lost more than US$30-billion since July 2002 because of government delays in granting visas to business travellers from other countries. Visa applicants from China, India and Russia have had the greatest difficulty in obtaining timely visa processing. Malaysia, Indonesia and South Korea were ranked next in order. The report cites examples that include jets left on the tarmac in Seattle because foreign buyers couldn't get visas for pilots to retrieve them.
CHECKOUT
A new study from IHL Consulting forecasts that self-service shopping will generate transactions worth US$70-billion in 2004, rising to over US$-330-billion by 2007. In stores currently using self-checkout systems, as much as 40 per cent of the total number of transactions now go through the self-checkout, allowing retailers to provide more customer assistance within the aisles to help customers to find products.
NEWSPAPERS
The world's newspapers enjoyed buoyant advertising sales in 2003 but overall reader numbers were in marginal decline. Circulation increased in 2003 across 35 of 208 countries studied with developing countries accounting for much of that growth, while a number of mature markets, notably in Western Europe, registered a fall in circulation. China held the overall record for newspaper circulation with more than 85 million publications sold each day, followed by India with 72 million. The most serious declines were in Ireland, Britain and Portugal.
WATCHING PAINT DRY
A new show has been unveiled on the Internet called Watching Paint Dry which is available around the clock at www.uktvstyle.co.uk. Each day a different type of paint will be applied to a wall and the camera will film it drying. Viewers will be able to vote online for their favourite finish from a selection of matt, silk, gloss, satin and smooth.
MALES
Sixty-one per cent of men now do at least some grocery shopping. Two years ago that figure was 41 per cent. Men are staying single longer, researchers note, and more two-career couples are sharing domestic responsibilities. Retired men are also shopping for food in greater quantities as the ranks of older consumers increase. More male supermarket shoppers are over 55 than under 35. Only a quarter of men use shopping lists when they shop compared with three-quarters of women.
TRANSLATORS
The European Commission is facing a backlog of untranslated documents and is asking officials to produce shorter documents to overcome the crisis. The present page average is 32 per document resulting in a backlog of 60,000 pages of untranslated material. If current trends continue, the Commission will need up to 4,000 translators by 2010, compared with 2,400 now employed.
CARS
Almost 15 per cent of all new cars sold in the USA last year were in one of the many shades of red. Compare that to Japan where red is almost rare and accounts for less than five per cent. However, about a third (35 per cent) of new vehicles sold in Japan were in some shade of white, while in the U.S. it's about half that. In Europe silver and grey are the most popular new-car colours accounting for 40 per cent of the market.
SHRIMP
Growing consumer demand for shrimp is fuelling an environmental crisis in some of the world's poorest nations. Shrimp farming is destroying wetlands, polluting the land and oceans and depleting wild fish stocks according The Environmental Justice Foundation. As much as 38 per cent of global mangrove destruction is linked to shrimp farm development. Shrimp farming is worth US$-50-$60-billion at the point of retail in around 50 countries. Leading shrimp producers are: Thailand, China, Indonesia, India, Vietnam. Ecuador and the Philippines.
SWITZERLAND
After years of wrangling, Switzerland finally agreed to levy a withholding tax on the savings accounts of EU citizens as part of a series of bilateral agreements that also includes deals on trade and the environment. Switzerland was rewarded with entry into the EU's passport-free area, probably in 2007.
FARMS
Canadian farmers saw their net cash income tumble last year to the lowest level in 25 years as drought and the mad cow crisis took its toll. The farm net cash income--the difference between a farmer's cash receipts and operating expenses--fell 43 per cent last year to C$4.22-billion. Prairie farmers were hardest hit as net cash income plunged 72 per cent in Alberta, 69 per cent in Saskatchewan and 51 per cent in Manitoba. Producers of wheat, excluding durum, saw their revenues drop almost 31 per cent.
FRAUD
The Advertising Standards Authority warns that fraudsters are taking advantage of the summer months when top executives are away to send fake invoices in the hope that they will be paid while management is away. The body is warning businesses to beware of unfamiliar bills, especially those from Swiss, Austrian and Czech companies, usually for subscriptions to internet directories.
GROOMING
An increased interest in appearance, hygiene and grooming on behalf of today's males has contributed to the growth in personal care categories around the world. An analysis of retail purchases in 56 countries across nearly 60 categories found many examples of this trend, including the sales by value of shower gels--one of the fastest-growing personal care categories worldwide, which grew by seven per cent in 2003 on the strength of male-oriented products.
STEEL
Rental rates in newly built office towers, apartments and retail complexes could rise by as much as 5 per cent as significant increases in steel prices over the past eight months have added millions of dollars to the cost of constructing commercial and institutional buildings in Canada. In addition, continued uncertainty over prices, coupled with fears of an impending steel shortage, have contractors and building owners concerned that projects could face delays. Steel accounts for up to 20 per cent of the cost of many of Canada's commercial buildings and has risen in price by 20 to 60 per cent in recent months.
CHARM
Churlish Russian border guards have been given strict new orders--smile and be polite to visitors entering the country. In an effort to put an end to the intimidating scowls and steely glares often suffered by travellers, guards checking passports are now under orders to be nice.
SCRAP
The market for scrap continues to heat up with reports that Shanghai, China's biggest city, is replacing hundreds of thousands of iron manhole covers with concrete and plastic ones after a 57 per cent rise in scrap steel prices encouraged thieves to steal about 1,800 of the lids. Scrap steel which comes from sources such as used autos and washing machines is melted and used to produce about 35 per cent of the world's steel. Recently, metal thieves in the eastern Ukraine stole a historic steam locomotive and a steel bridge which cut off a local town.
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