Chinas inflation rate hits 4.5 percent in January
China s annual inflation rate hit 4.5 percent in January, the highest level in three months, data showed Thursday, after consumers splashed out on food and gifts over the Lunar New Year holiday.
The country s consumer price index, a key gauge of inflation, was higher than the 4.1 percent in December and ended five straight months of easing price pressures caused by government restrictions on lending and property purchases.
Analysts said the holiday, also known as the Spring Festival, was unusually early this year and had distorted the monthly data.
Retail spending typically soars during the week-long festival, the most important celebration in the Chinese calendar, as consumers ramp up spending on food, wine and gifts for family and friends.
Before January, inflation had eased for five months in a row after hitting a more than three-year high of 6.5 percent in July and analysts said the downward trend would likely resume in February as the economy continued to slow.
“It was inevitable that we would see some impact of the Lunar New Year holidays, which were in January this year but February last year, but it seems that this impact was bigger than expected,” said Brian Jackson, a senior analyst at Royal Bank of Canada in Hong Kong.
Analysts had expected inflation to rise 4.1 percent, according to a Dow Jones Newswires survey.
The market barely reacted to the data, with the Shanghai Composite Index up 0.37 points, or 0.02 percent, at 2,347.90 in late morning trade.
The rebound in inflation was driven by food prices, which soared 10.5 percent year-on-year in January compared with 9.1 percent in December, the National Bureau of Statistics said in a statement.
The producer price index, which measures the cost of goods at the farm and factory gate, rose an anaemic 0.7 percent in January compared with 1.7 percent in December, the statement said.
Bank of America-Merrill Lynch economist Lu Ting said the data was “significantly distorted” by the holiday “so investors definitely should not read too much into the inflation”.
There is mounting evidence that China s growth is slowing as the ongoing debt crisis in Europe and weakness in the United States hurts demand for Chinese exports, a key driver of the world s second-largest economy.
The International Monetary Fund this week warned that an escalation of Europe s fiscal woes could slash China s economic growth by half this year, and it urged Beijing to prepare stimulus measures in response.
But Chinese leaders have been very cautious about opening the credit valves for fear of reigniting inflation, which has the historic potential to trigger social unrest in the country of more than 1.3 billion people.
Late last year the central bank eased lending restrictions on banks and analysts expect similar moves in the coming months as authorities try to spur economic activity and prevent a damaging collapse in the property market.
Policymakers are also easing taxes and improving funding channels for small and medium-sized businesses which are huge employers but are often shunned by the major banks.
“There remains plenty of downward momentum in China, despite a moderation in the slowdown,” said Alistair Thornton, a Beijing-based analyst for IHS Global Insight.
“The property market remains in the throes of a correction, which is dragging down investment spending and spreading deflationary pressure (and) the eurozone will act as a drag on export growth this year.”
Oil prices dip near $99 a barrel
Oil prices are down on concerns that the U.S. economy could slow and investors worries eased about supply disruptions in the Persian Gulf.
Benchmark crude fell by 34 cents to $99.22 per barrel in New York on Monday. Brent crude, which is used to price foreign oils that are imported by U.S. refineries, lost 28 cents at $111.18 per barrel in London.
The Commerce Department said Americans kept a tighter grip on their wallets in December. Consumer spending was flat, even though incomes rose by the most in nine months. The economy relies heavily on consumer spending, and analysts say the economic recovery could stall and energy demand may stay weak if spending doesn t pick up.
Meanwhile, Iran welcomed international weapons experts into the country in hopes of refuting claims that it is building a nuclear weapon. That eased concerns about possible military action in the region. Still, Europe plans to embargo Iranian oil this summer to pressure Iran about its nuclear program. If that happens, Iran says it could retaliate by blocking passage through the Persian Gulf, where tankers carry one-sixth of the world s oil exports.
The U.S. is ready to implement sanctions on Iran s central bank that will make it harder for Iran to sell oil.
In other energy trading, heating oil was flat at $3.07 per gallon and gasoline futures fell 5 cents to $2.88 per gallon. Natural gas futures fell by 1 cent to $2.75 per 1,000 cubic feet.
China retail sales hit $74 billion during holidays
China said retail sales surged 16.2 percent year on year to 470 billion yuan ($74 billion) during the week-long Lunar New Year holiday, as consumers splashed out on food, wine and clothes.
Hundreds of millions of people journey across the country during the holiday to celebrate with their families and consumer spending typically soars during the period.
The commerce ministry said sales of clothes, jewellery and food rose 18.7 percent, 16.4 percent and 16.2 percent respectively, according to a statement posted on its website Saturday, the last day of the holiday.
The number of passenger trips on trains, planes, boats and buses was expected to reach 3.2 billion during the peak travel period from January 8 to February 16, up 9.1 percent from last year.
Authorities warned snow and rain in parts of southern and southwestern China could disrupt road and rail links as millions of people returned to work in the major cities, the Global Times reported.
Hydrogen fueling station opens in California
Residents of California can take a trip to Orange County and find the world’s first sewage-powered refueling station. Located just off the 405 freeway, the station is located next to the Orange County waste-water treatment plant in Fountain Valley.
The hydrogen fuel offers about 70 miles per gallon and the station can fuel up to 50 automobiles per day with the daily 120 kilograms of hydrogen gas produced at the plant. In order to produce the hydrogen gas, sewage is processed to collect methane. This methane is converted into hydrogen and sent into a fuel cell to power the entire plant with 250 kilowatts of electricity.
The remaining hydrogen is converted into fuel grade hydrogen and sent to the fueling station for consumer use.
“Conviction” director Tony Goldwyn on streaming awards screeners
TrendPK.com: It ‘s big story in last weekend’s L.A. Times. Fox Searchlight struck a deal to stream three of its awards contenders – “Conviction,” “127 Hours” and “Black Swan” – to iTunes so certain guild members could download and watch screeners on portable devices like an iPhone or iPad.
It sounds groundbreaking, a potential money-saving system for studios who must spend to burn awards screeners for awards voters who might prefer to watch movies on the go.
Piracy will be one issue that determines if this is an experiment or a first step into the way things are going to be. If these streams are somehow hacked and reposted to file-sharing forums, the studios will lock up their product once again and re-evaluate.
But one person with direct ties to one of the films being made available spoke out to EW and threw his support behind the decision.
“Last week I got the call that they were making this deal, I was very excited, because the film will have the opportunity to reach so many more people than it possibly could in the movie theater, or even by sending out screeners,” said Tony Goldwyn, director of “Conviction.”
But what watching his film on a much smaller screen?
“How I feel about it is, we’re the storytellers and that’s my job. How people want to consume that story is up to the consumer. Obviously, I’d rather someone see my film on the big screen, but more than that I’d rather they see my film, period. I don’t personally like watching movies on my iPhone, but if someone else does, more power to them. And to be resistant of it, to me, is to be stuck in the past.”
LPG price up by Rs14 per kg
The price of Liquefied Petroleum Gas (LPG) has been raised by Rs. 14 per kg on Thursday; the domestic cylinder will now cost Rs. 165 more to the consumer.According to marketing companies, after the current price hike the price of LPG in Lahore, Peshawar and Sialkot has reached to Rs. 130 per kg and domestic cylinder is being sold on Rs. 1510 per cylinder.In Karachi, LPG is being sold on Rs. 110 per kg and the domestic cylinder is costing Rs. 1270 per cylinder.In Multan, LPG price has climbed to Rs. 135 per kg; in Quetta, Azad Kashmir, FATA and Muzaffarabad Rs. 160 while in Murree and Kohat Rs. 145 per kg.
LPG price raised by Rs. 14 per kg, domestic cylinder to cost Rs. 165 more
December 2, 2010 by Trend PK
Filed under World News
Staff Report
LAHORE: The price of Liquefied Petroleum Gas (LPG) has been raised by Rs. 14 per kg on Thursday; the domestic cylinder will now cost Rs. 165 more to the consumer.
According to marketing companies, after the current price hike the price of LPG in Lahore, Peshawar and Sialkot has reached to Rs. 130 per kg and domestic cylinder is being sold on Rs. 1510 per cylinder.
In Karachi, LPG is being sold on Rs. 110 per kg and the domestic cylinder is costing Rs. 1270 per cylinder.
In Multan, LPG price has climbed to Rs. 135 per kg; in Quetta, Azad Kashmir, FATA and Muzaffarabad Rs. 160 while in Murree and Kohat Rs. 145 per kg. Trend Pk
Power consumers warn will not pay bills
KARACHI: The Consumer Association (CA) has rejected the increase in power tariff. The head of CA Kokab Iqbal said nonpayment of electricity bill drive would be launch if government will not withdraw the hike in tariff. He while rejecting the increment in power tariff demanded that the authority of increment in tariff should be taking back from NEPRA.
mcdonalds
June 5, 2010 by Trend PK
Filed under World News
McDonald’s recalls 12 million toxic Shrek glasses
McDonald’s is recalling 12 million drinking glasses it is selling to promote the new “Shrek” movie because painted designs on the cheap collectables contain the toxic metal cadmium.
The US Consumer Product Safety Commission warned consumers to immediately stop using the glasses; McDonald’s said it would post instructions on its website next week regarding refunds.
The glasses, which are being sold for about $2 (£1.30) each as part of a promotional campaign for the movie Shrek Forever After, were available in four designs depicting the characters Shrek, Princess Fiona, Puss in Boots and Donkey. The animated comedy, featuring the voices of Mike Myers and Cameron Diaz, has been number one at the box office since it opened on May 21.
The CPSC noted in its recall notice that “long-term exposure to cadmium can cause adverse health effects.” Research has shown it can cause problems to the kidneys and can cause bone softening. 
new lexus sports car
June 3, 2010 by Trend PK
Filed under World News
Drinking and driving do not mix. Is that why Lexus is shattering a Champagne glass in a new commercial?
No, not really. The spot, scheduled to begin running on Wednesday, is meant to demonstrate the “pursuit of perfection,” to quote the Lexus slogan, in a new way.
The commercial features a new Lexus model, the two-seat LFA, a so-called supercar. But the spot is intended to burnish the Lexus brand image as much as to sell the new car since only 500 of the two-seaters are to be produced.
The Champagne flute breaks in the commercial as a result of the sound of the IFA’s engine being revved up. A physicist was hired, Lexus says, to help determine the type of glass whose natural resonance frequency matched the frequency of the engine noise, which causes the glass to vibrate until it breaks.
Fans of the Lexus brand will recall a couple of previous times that glassware played leading parts in the brand’s pitches. A pyramid of Champagne glasses on a hood helped Toyota Motor introduce the Lexus luxury marque in 1989.
And in 2006, a commercial showed a LS 460 being parallel-parked with its park-assist feature, thereby keeping intact two giant pyramids of Champagne glasses.
Lexus is breaking out — pun intended — the glassware again to introduce a campaign that carries the theme “Engineering the impossible.”
The TV commercial is part of the campaign, along with print, online and outdoor ads; a commercial for movie theaters to be filmed in 3D; and a presence on the version of Sports Illustrated to appear on the new iPad.
“It’s still the pursuit of perfection,” Dave Nordstrom, vice president for marketing at Lexus, said in an interview by phone on Tuesday, adding the element of “showing the lengths Lexus goes to pursue perfection.”
The wink and nod to the previous commercials will be noticed by “the people who know Lexus,” Mr. Nordstrom said, but that knowledge of Lexus ad history is not needed to enjoy or understand the new spot.
Lexus is the luxury car leader in the American market and has been weathering the bumpy economy well, Mr. Nordstrom said.
The brand has also weathered a recent incident, he added, when Consumer Reports warned drivers to avoid the 2010 GX 460 sport utility vehicle after it failed the magazine’s emergency handling test.
Lexus recalled the S.U.V.’s and stopped selling them after the warning, subsequently updating the software that runs the electronic stability control system, The Associated Press reported; Consumer Reports then lifted the warning.
About 40 percent of the campaign will appear in digital media, Mr. Nordstrom said, which would be more than before for Lexus.Lexus had developed a commercial that was labeled the “perfect pitch.” There were several phases to the advertisement scheme, but having the cars sold out at a price of $375,000 a piece makes the commercial less important at this time.
The new sports car from Lexus is powered by a 4.8-liter V10 engine. The car costs three times as much as the Porsche 911 GT3, and is almost double the price of the Ferrari 458 Italia.
