China Life sees $3.6 bln Shanghai listing in Jan

SHANGHAI, Dec 13: China Life Insurance Co <2628.HK> will launch a 28 billion yuan ($3.57 billion) A-share offer this month and list them in Shanghai . ...more

Litvinenko contact polonium trail started mid-Oct

BERLIN, Dec 13: A Russian associate of poisoned ex-spy Alexander Litvinenko who is being investigated in the .....more

Exxon sees global energy demand up 1.6 pct a year

NEW YORK, Dec 13: Exxon Mobil Corp. Said it expects global energy demand to increase 1.6 per cent a year through 2030, spurred by population and economic growth, especially .......more

RIM sues for infringement over Samsung’s BlackJack

TORONTO, Dec 13: Research In Motion Ltd is suing Samsung Electronics Co Ltd alleging the South Korean electronics giant has infringed on RIM’s well-known BlackBerry trademark name by launching its ........more

Reliance keen on Hutchison India phone assets-FT

SINGAPORE, Dec 13: Reliance Communications is in talks to team up with three US private equity groups trying to ....more

India HIV cases may be lower than estimates:Study

LONDON, Dec 13: The number of people living with HIV in India could be lower than Government estimates, research issued TOday said.Scientists who , .......more

US Court orders ex-Enron CEO skilling to prison

HOUSTON, Dec 13: A US appeals court ordered ex-Enron chief executive office to report to prison immediately, according to the Houston Chronicle. On Monday, the court said Skilling ........more

Whole grains and fish may protect against asthma

NEW YORK, Dec 13: Children who eat goodly amounts of whole grain products and fish seem to have a reduced risk of developing asthma, according to findings published in the medical journal Thorax...........more

Berlin wheel threatens rhino sex life :Activists.........

Pigeon lovers set for the battle of Trafalgar.........

Spend big on wrinkle creams? Don't bother:Study.............

More Americans facing high healthcare costs ...............

China Life sees $3.6 bln Shanghai listing in Jan

SHANGHAI, Dec 13: China Life Insurance Co <2628.HK> will launch a 28 billion yuan ($3.57 billion) A-share offer this month and list them in Shanghai in January in what would be the second-biggest share sale ever in mainland China.

The official China Securities Journal said in a front-page report that China Life, the country's largest life insurer <LFC.N>, aimed to complete the offer of up to 1.5 billion local currency A-shares by the end of this year.

The shares are likely to be issued at around 10 percent discount to its Hong Kong-listed shares, which closed at HK$19.02 on Tuesday, the newspaper quoted investment banking sources as saying.

Based on 90 percent of the company's current Hong Kong price, China Life could raise more than 25 billion yuan, the paper said. The issue would raise 28 billion yuan it is priced at the same as its Hong Kong shares.

Its Hong Kong stock has nearly tripled in the past year on sharply rising premiums and higher returns from investments.

China Life would become the first domestic insurance company to sell shares in mainland China, where the stock market has surged more than 80 percent this year.

China Securities Regulatory Commission (CSRC), the country's top stock market watchdog, is expected to approve China Life's A-share application on Friday.

China Life has said it planned to use the proceeds to boost its payment ability, benefiting its long-term development.

China Life's parent said earlier this week that it would buy a $4.5 billion stake in state-run China Southern Power Grid in a deal that diversifies its investments.

(AGENCIES)

Litvinenko contact polonium trail started mid-Oct

BERLIN, Dec 13: A Russian associate of poisoned ex-spy Alexander Litvinenko who is being investigated in the case has said he must have picked up traces of polonium from the murdered man when he met him in London in mid-October.

That is well before Litvinenko fell ill, on November. 1.

A German prosecutor has said Russian businessman Dmitry Kovtun, who met Litvinenko on the day he fell ill, could be a possible suspect in the case.

Kovtun denies any part in Litvinenko’s poisoning. German prosecutors are investigating him on suspicion of illegally handling radioactive material after traces of polonium were found in properties he used in Hamburg, and British and Russian investigators have also interviewed him in Moscow.

Litvinenko died in London on November. 23 after receiving a lethal dose of radioactive polonium-210. He accused Russian President Vladimir Putin of ordering his killing, although the Kremlin has denied being involved.

The ensuing mystery has sparked a cross-border investigation stretching from London to Moscow and Hamburg and generated a string of conspiracy theories.

"The only explanation for the traces of polonium I can give is that I brought them with me from London when I met Alexander Litvinenko there on October. 16, 17 and 18," Kovtun was quoted as saying to Germany’s Spiegel TV in a short interview yesterday.

Kovtun, who says Litvinenko was the middleman in a business deal, is in a Moscow hospital although it is unclear what exactly is wrong with him.

"I am getting better day by day ... I hope to be out of hospital by the end of the week," he told Spiegel TV. (AGENCIES)

Exxon sees global energy demand up 1.6 pct a year

NEW YORK, Dec 13: Exxon Mobil Corp. Said it expects global energy demand to increase 1.6 per cent a year through 2030, spurred by population and economic growth, especially in developing countries.

Exxon, the world's largest publicly traded oil company, said it expects worldwide energy demand to reach about 325 million barrels of oil equivalent per year in 2030, about 60 per cent higher than 2000 levels.

Energy demand is expected to grow at a rate of 2.4 percent a year in non-Organisation for Economic Cooperation and Development countries, the company said. The OECD groups 30 mainly rich, industrialized countries.

That figure includes energy derived from oil, natural gas, coal and other sources, according to Jaime Spellings, the company's general manager of corporate planning.

''The global energy mix in 25 years will look very similar to what it is today -- oil, gas and coal will remain predominant,'' Spellings said in a presentation to analysts and investors.

The company expects fossil fuels to account for roughly 80 per cent of energy demand in 2030.

Demand for liquid fuels -- including crude oil, oil sands and biofuels -- is expected to grow at an average of 1.4 per cent per year to about 115 million barrels of oil equivalent per day from about 85 million barrels of oil equivalent currently, Exxon said.

Gas demand is expected to rise about 1.7 per cent per year through 2030 on growth from the power generation industry. The company expects coal demand to grow about 1.6 per cent per year.

Spellings also said the company expects carbon dioxide emissions to rise about 1.6 percent per year through 2030, with most of the growth coming from non-OECD countries.

Scientists believe carbon dioxide and other greenhouse gases cause global warming.

''A variety of options exist to mitigate CO2, but they each come with different scales and different costs,'' Spellings said. (AGENCIES)

RIM sues for infringement over Samsung’s BlackJack

TORONTO, Dec 13: Research In Motion Ltd is suing Samsung Electronics Co Ltd alleging the South Korean electronics giant has infringed on RIM’s well-known BlackBerry trademark name by launching its competing BlackJack smartphone.

In the suit filed Dec 8 in the US District Court for the Central District of California, RIM alleges Samsung has decided to name one of its handheld devices the BlackJack to ride on the coattails of success enjoyed by RIM’s BlackBerry line of smartphones.

"With intentional disregard for RIM’s trademark rights, Samsung has used the BlackJack mark in a manner which is confusingly similar to RIM’s BlackBerry marks," RIM states, adding that "as a result of such acts, Samsung is misleading the public into falsely believing that Samsung’s goods and services are connected with RIM’s business."

RIM is seeking unspecified damages and legal costs, as well as for Samsung to "deliver to RIM for destruction" every item that bears the BlackJack mark that the company holds or has sold.

The latest in RIM’s lineup of popular smartphones, the BlackBerry Pearl, is very similar in appearance and dimensions to Samsung’s BlackJack, RIM states in its suit.

Cingular, which RIM says is the biggest carrier of its BlackBerries, is also selling the BlackJack in the United States, which is RIM’s biggest market.

Samsung was not immediately available for comment. (AGENCIES)

Whole grains and fish may protect against asthma

NEW YORK, Dec 13: Children who eat goodly amounts of whole grain products and fish seem to have a reduced risk of developing asthma, according to findings published in the medical journal Thorax.

''The rise in the prevalence of asthma in western societies may be related to changed dietary habits,'' write Dr H A Smit, of the National Institute of Public Health and the Environment, in Bilthoven, the Netherlands, and colleagues.

They note that studies of children have shown that asthma is less likely with increasing intake of ''fruits, vegetables, dairy and whole grain products, and fish.''

The researchers examined the intake of these foods in relation to asthma in 598 Dutch children between the ages of 8 and 13 years enrolled in the International Study on Allergy and Asthma in Childhood 2 (ISAAC-2).

Parents completed food questionnaires, which were used to estimate the kids' dietary intakes. Wheezing and asthma were also determined with questionnaires, as well as from medical tests.

No clear associations were observed between asthma or wheezing and intake of citrus fruits, vegetables, and dairy products, but there was a link with consumption of fish and whole grain products.

''The crude prevalence of current wheeze was observed to be 19.4 per cent in children with a low intake of both foods compared with 4.2 per cent in children with a high intake of both foods,'' Smit's team reports. ''For current asthma the crude prevalences were 16.7 per cent and 2.8 per cent, respectively.''

After adjustments, whole grains and fish were linked to a reduction of 54 per cent and 66 per cent, respectively, in the likelihood of having asthma, and similar reductions of 45 percent and 56 percent for wheezing.

The researchers recommend forward-looking studies to further clarify the relationship between dietary factors and asthma, and the possible effects of diet modifications. (AGENCIES)

US Court orders ex-Enron CEO skilling to prison

HOUSTON, Dec 13: A US appeals court ordered ex-Enron chief executive office to report to prison immediately, according to the Houston Chronicle.

On Monday, the court said Skilling could remain free while it considers granting him bail, according to court documents.

Skilling was scheduled to report to federal prison in Minnesota yesterday to begin a 24-year sentence for his role in hiding Enron’s financial condition from investors as the company’s fortunes eroded prior to its 2001 collapse.

A Houston jury convicted Skilling in May. (AGENCIES)

Reliance keen on Hutchison India phone assets-FT

SINGAPORE, Dec 13: Reliance Communications is in talks to team up with three US private equity groups trying to buy the Indian mobile phone operations of Hutchison Telecommunications International in a deal worth more than $14 billion, the Financial Times reported on Wednesday.

Reliance had previously held talks with Carlyle [CYL.UL] and Blackstone [BG.UL] about a possible bid for Hutchison Essar, which is 67 percent-owned by Hong Kong tycoon Li Ka-shing's Hutchison International.

It is now in discussions to include Texas Pacific Group [TPG.UL] in its ranks, the paper said without identifying its sources.

Such a deal for Reliance, headed by Anil Ambani, would boost its position in the fast-growing Indian mobile market to number one. (AGENCIES)

India HIV cases may be lower than estimates:Study

LONDON, Dec 13: The number of people living with HIV in India could be lower than Government estimates, research issued TOday said.

Scientists who studied the prevalence of the virus that causes AIDS in a district in the southern state of Andhra Pradesh-the state has the highest HIV rate in India-found it was less than half the Government’s figure.

Instead of 112,600 HIV cases in the district of Guntur, Lalit Dandona, of the Administrative Staff College of India, in Hyderabad estimates the number is about 45,900.

"The official method in India leads to a gross overestimation of the HIV burden in this district," Dandona said in a report published in the journal BMC Medicine.

"The potential major implications of these findings for the overall HIV estimate for India need to be examined," he said.

The United Nations estimates India has the largest number of people living with HIV/AIDS at 5.7 million.

The researchers tested blood samples from more than 12,000 men and women aged 15-49 from both urban and rural areas in Guntur who were representative for the study.

The HIV prevalence rate they found was 1.72 per cent and rose to 1.79 per cent, or 45,900 cases, after they adjusted the number for high risk groups.

Official figures based on data collected from antenatal clinics, sexual health clinics, high risk groups and referrals of HIV positive and suspected cases to public hospitals put the number of cases at 112,600.

Dandona said public hospitals have disproportionately high rates of HIV because they are used more by patients from lower socioeconomic groups who have a higher prevalence of HIV. (AGENCIES)

Berlin wheel threatens rhino sex life :Activists

BERLIN, Dec 13: German animal rights activists have launched a campaign against plans to put up a giant ferris wheel in Berlin, saying it would disturb the sex lives of rhinos in a nearby zoo.

A group of investors has unveiled plans to erect a 175-meter high wheel for 120 million euros (158.9 million dollars) in the German capital, hoping to attract millions of visitors from 2008.

But animal rights activists oppose the project, saying the fully-illuminated wheel would disturb the rhinos’ daily routine.

"We’re worried that these endangered animals won’t breed any more, which would hamper animal protection programmes," Berlin’s animal rights association said in a statement.

The planned Berlin wheel would be higher than the London Eye, which claims to be the world’s tallest observation wheel at 135 meters, according to its website.

(AGENCIES)

Pigeon lovers set for the battle of Trafalgar

LONDON, Dec 13: Pigeon lovers are set to take London Mayor Ken Livingstone to court to force him to let them continue feeding the birds he calls ''flying rats'' in the capital's Trafalgar Square.

The Save the Trafalgar Square Pigeons (STTSP) action group has been battling a campaign launched by Livingstone six years ago to rid the central London square of its pigeons, which he says are a nuisance and a health hazard.

The sale to the public of bird seed has been banned and hawks have been brought in to scare the pigeons away.

The group says Livingstone has broken an agreement to allow them to feed the birds as part of a plan to eradicate them by a gradual reduction in feeding and to donate 3,000 pounds for the bird food.

The compromise agreement to limit breeding rather than starve the pigeons to death has brought their numbers down to about 1,500 from 4,000, according to the STTSP.

''We opposed the Mayor's plans to reduce pigeon numbers but agreed to work with him to reduce numbers humanely,'' said STTSP spokesman Niel Hansen.

''And now he repays us by stabbing us in the back and reneging on our agreement.''

The group said in a statement it was issuing legal proceedings against Livingstone in Central London County Court, seeking an order forcing him to allow their feeding to continue.

The mayor's office said it withdrew permission for the feeding scheme in June after ''rogue'' feeding on the square's north terrace, which is controlled by Westminster City Council and does not come under the bylaw banning unauthorised feeding.

''As there is persistent and anti-social feeding by pigeon-rights activists on the North Terrace ... There is simply no case for feeding the feral pigeon colony in the Trafalgar Square area,'' a Greater London Authority (GLA) spokesperson said.

Livingstone has come under fire from animal rights campaigners around the world and from political opponents complaining about the cost of driving the pigeons away.

The London Assembly opposition Liberal Democrats have said the hawks have cost taxpayers at least 226,000 pounds. (AGENCIES)

---------------------------------------------------------------------------------------------------------

Spend big on wrinkle creams? Don't bother:Study

NEW YORK, Dec 13: Spend a fortune on anti-wrinkle creams? Don't bother, said a US study.

Luxury-price products don't work any better than drugstore brands, according to the study by Consumer Reports magazine, released yesterday which ranked Olay Regenerist, priced at about 19 dollars, as the most effective in reducing wrinkles.

But none of these products made a significant difference in the skin's appearance.

Researchers found that after 12 weeks the top-rated products smoothed out some fine lines and wrinkles, but even the best performers reduced the average depth of wrinkles by less than 10 per cent, a change barely visible to the naked eye.

''The tests revealed that, on average, these products made little difference the skin's appearance and there's no correlation between price and effectiveness,'' a spokeswoman for the magazine said.

Americans spend over 1 billion dollars a year on anti-wrinkle creams.

Consumer Reports, published by nonprofit consumer research group Consumer Union, chose a sample of top-selling mass-market lines for its study. The products were purchased in retail stores for between 19 dollars and 355 dollars. Each cream was tested by 17 to 23 women, aged between 30 and 70.

The women were recruited and evaluated by a European laboratory specializing in cosmetic testing.

The women used a test product on one side of their face and the lab's standard moisturizer on the other side for comparison. A high-tech optical device was used to detect changes in wrinkle depth and skin roughness.

Results varied among the women, the study said.

Dr Tina Alster, a dermatologic laser surgeon from Georgetown University Medical Center in Washington, DC, and a member of the American Academy of Dermatologists, said it was overly simplistic to conclude from such a limited study that these products did not work.

''People would love to believe that cheap products are the same as the more expensive ones, and I may pooh-pooh someone paying 500 dollar for a cream, but I do see the value of some of the luxury brands which are science-based,'' she said. ''But it is a cautionary tale that people should be looking at the ingredients rather than just at the packaging.''

Despite the study's findings, some women said they would continue to use anti-wrinkle cream.

''I've never really believed these creams would stop wrinkles, but they make me feel and smell good,'' said Amira Thoron, a 36-year-old New York teacher.

(AGENCIES)

More Americans facing high healthcare costs

NEW YORK, Dec 13: A growing number of Americans are devoting a large share of their paychecks to healthcare, and some are skipping medical care because of it, researchers said.

In 2003, 48.8 million Americans younger than 65 lived in a household that spent more than 10 per cent of the family income on healthcare, according to a study by the US Department of Health and Human Services. That figure was up by 11.7 million from 1996.

Low-income families were among those most likely to devote a large share of income to healthcare, the study found. Other groups with higher-than-average financial burdens included people living in rural areas, adults between the ages of 55 and 64, and people with chronic health conditions.

In addition, more than half of Americans with health insurance that wasn't from a group plan spent at least 10 per cent of their family income on healthcare -- a rate nearly three times that of Americans covered by employer-sponsored health plans.

Not unexpectedly, people with higher personal costs were more likely than other Americans to put off medical care for financial reasons. For people in poor health, this could have ''severe consequences,'' the study authors report in today's issue of the Journal of the American Medical Association.

The findings are based on data from federal health surveys onducted in 1996 and 2003. Each one questioned a nationally representative sample of Americans -- 19,022 adults younger than 65 in 1996, and 28,970 in 2003.

Drs Jessica S Banthin and Didem M Bernard of the health department's Agency for Healthcare Research and Quality estimate that in 1996, nearly 16 percent of Americans -- or roughly 37 million people -- spent more than 10 percent of the family income on healthcare. That included money paid toward insurance premiums as well as direct medical expenses.

By 2003, that percentage had grown to more than 19 per cent, or 48.8 million Americans, the researchers found. Of these, 18.7 million spent more than 20 percent of their paycheck on healthcare.

Americans in this latter group spent an average of 5,794 dollars on healthcare in 2003, according to Banthin and Bernard, which was more than twice the average for all Americans younger than 65. Moreover, 5 per cent said they had delayed or skipped medical care because of money.

The findings also underscore the high healthcare expenses of Americans who get health insurance on their own rather an employer, the researchers point out. Other studies, they note, have found that the non-group health insurance market is ''small, volatile and subject to potential market failures.''

People in non-group plans, the researchers add, tend to have much higher healthcare costs than people with any other type of insurance, and even those who lack insurance altogether. (AGENCIES)



|
home | state | national | business| editorial | advertisement | sports |
|
international | weather | mailbag | suggestions | search | subscribe | send mail |