Bank queues in China

Heard on the radio : queues are forming outside banks in China, as the Chinese are frantically withdrawing money to throw into the red-hot stock market. The ATM withdrawal limit has also been quadrupled from RMB 5,000 to RMB 20,000.

As for the stock market, it seems to be making record highs on a daily basis nowadays. Recently, a colleague (Indian) asked another colleague (from mainland China) "how to get onto the Shanghai stock exchange".

Sounds bubbly? You bet. However, there are many people waiting for the bubble to burst. From a purely contrarian point of view, it just might run a while yet. But you might not want to be around when it does burst.

(2007-05-29 14:40:20 SGT) [Biz] Permalink

Camera market to peak in 2010 : IDC

news.com.com :

Digital camera sales will grow 8 percent to hit 114 million units in 2007, but the market will peak in 2010, IDC forecast. The digital camera market is saturating as the electronic devices replace earlier film models, and already camera makers have begun emphasizing products and features for customers who are upgrading or want multiple cameras.

But even emerging markets will saturate soon, IDC forecast, and the number of units shipped will decline after 2010. "We predict a slowdown, driven by a complete saturation of all regions, creating 2 percent negative growth in 2011," said IDC analyst Christopher Chute. But cameras should withstand the arrival of cell phones that can take snapshots, IDC forecast.

(2007-05-29 12:58:14 SGT) [Biz] Permalink Comments [1]

Toyota tops GM in 1Q global sales

news.yahoo.com :

For the first time ever, Toyota sold more vehicles globally in a quarter than General Motors, preliminary January-March figures show, the clearest sign yet that the Japanese company is on track to overtake its U.S. rival as the world's top automaker. Toyota's success is fueled by robust demand for its reliable, fuel-efficient models, including the Camry, Corolla, Yaris and gas-electric hybrid Prius. It also comes at a time when General Motors Corp., which lost $2 billion last year, has been forced to scale back production and cut costs in a bid to revive its sliding fortunes, even as it leads in China's booming market.

Final bragging rights as the world's top automaker - a title GM has held for 76 years - won't be decided until global vehicle production numbers get tallied for the full year. But Toyota is getting closer. Toyota sold 2.35 million vehicles worldwide in the first quarter, surpassing the 2.26 million vehicles GM sold in the period.

Analysts say Toyota is building on its lead by investing in ecological technology, opening plants around the world, developing new models and wooing drivers with solid marketing that drives home its brand power. Those are precisely areas in which GM has fallen behind Toyota, analysts say. GM will be hard pressed to play catch-up, making it more likely that Toyota will outstrip GM for the full year.

Virgin plans to fly 747 on biofuel in 2008

peakoil.com -> business.timesonline.co.uk :

Virgin Atlantic is to announce that one of its 747 jumbo jets will be used to demonstrate that biofuels can power an aircraft. The project, which includes Boeing and General Electric, the engine-maker, hopes to have the "green" jumbo airborne in 2008. The airline and its partners are testing up to eight biofuels to determine which is most effective at altitude. Ethanol, which is becoming an increasingly popular alternative to petrol in cars, has been rejected because it does not burn well in thin-oxygen environments.

Virgin hopes that biofuel-powered aircraft could be operating commercially within five years, which could help to cut significantly the airline industry's carbon dioxide emissions. At present air travel contributes 2-3% of climate-change gases, but that level is increasing as the activity expands.

Sir Richard Branson, the chairman of Virgin Atlantic, launched an alternative fuels division last year, pledging the profits from his airline and trains for the next ten years.

(2007-05-29 12:45:16 SGT) [Energy] Permalink

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