Dec 14

The central government is closely monitoring the property market after 18 cities including Shanghai launched various measures to arrest falling property sales, a senior official said Thursday.

Speaking on the sidelines of a press conference in Beijing, Du Ying, vice-minister of the National Development and Reform Commission (NDRC), said: “Real estate is a major sector in our fixed-asset investment, so the government is closely watching its development.”

His comments came after the Shanghai municipal government raised by one fifth the mortgage ceiling of the housing accumulation fund, into which employees deposit money every month in return for lower interest rates. The measure took effect on Wednesday.

“New measures by other cities are exciting news for us,” Shanghai Vice-Mayor Yang Xiong said at the same press conference.

“We will continue to study necessary and controllable policies based on changes in the economy and property market. We aim to keep the property market stable.”

Rescue policies aiding the real estate market have been announced in 18 cities.

Favorable offers include raising government funding for homebuyers and extending the time limit for developers to use their acquired land.

The country’s property market began to cool in the fourth quarter of last year, with transactions remaining low.

But analysts are reserved on what these moves mean.

Qin Xiaomei, research chief at CB Richard Ellis’ Beijing branch, said: “It’s hard to say that now is the time the government has to save the real estate market, as there is still room for property prices to fall.”

Although property prices in most cities have fallen month-on-month recently, the year-on-year indexes are still going up, Qin said.

According to figures from the NDRC, prices in 70 major cities have climbed 5.3 percent year-on-year, but the growth rate was 1.7 percentage points lower than that for July.

“Meanwhile, developers who grabbed land parcels in 2005 or 2006 are still enjoying good profit margins despite the current price drop. And they should now cut prices to meet consumers’ wallets,” Qin said.

Many buyers, however, are waiting for prices to fall.

Yin Lijin, a resident of Shanghai’s Pudong new district, where the average monthly salary is about 6,000 yuan, said Thursday: “Apartments in my favorite areas still cost more than 20,000 yuan ($2,900) per sq m.

“I’ll have to wait until they fall to about 10,000 yuan.”

Qian Wei, who together with her fiance in Beijing’s Haidan district make 15,000 yuan a month, said: “Friends who are familiar with the market told us the price may be lower early next year.”

But agents have disagreed.

“Secondhand apartments haven’t dropped much. Owners still want high bids,” a salesperson with real estate broker 5i5j said.

Dec 12

Zeng Yawen’s outdoor laboratory in the terraced hills of southern China is a trove of genetic potential — rice that thrives in unusually cool temperatures, high altitudes or in dry soil; rice rich in calcium, vitamins or iron.

“See these plants? They can tolerate the cold,” Zeng says as he walks through a checkerboard of test fields sown with different rice varieties on the outskirts of Kunming, capital of southwestern China’s Yunnan province.

“We can extract the cold-tolerant gene from this plant and use it in a genetically manipulated variety to improve its cold tolerance,” Zeng says.

In a mountainous place like Yunnan, and in many other parts of the developing world, such advantages can tip the balance between hunger and a decent living. And China is now ready to tip that scale in favor of genetically modified crops.

Surging costs, population growth, and drought and other setbacks linked to global climate change are pressuring world food supplies, while soaring prices on the street have triggered riots and raised the number of people going hungry to more than 923 million, according to U.N. estimates.

With food demand forecast to increase by half by 2030, the incentive to use genetic engineering to boost harvests and protect precious crops from insects and other damage has never been greater.

In Europe, Africa and Asia, governments that have resisted imports of genetically modified foods and banned growing such crops are loosening those restrictions. Meanwhile, they are pushing ahead faster with their own research, despite lingering questions over the safety of such technology.

“Influential voices around the world are calling for a re-examination of the GM debate,” says C.S. Prakash, a professor of plant molecular genetics at Alabama’s Tuskegee University. “Biotechnology provides such tools to help address food sustainability issues.”

Genetic manipulation to insert desirable genes or accelerate changes traditionally achieved through crossbreeding can help make crops resistant to insects and disease or enable them to tolerate herbicides. Livestock similarly can be altered by inserting a gene from one animal into the DNA of another.

Many researchers believe such methods are essential for a second “green revolution,” now that the gains from the first, in the mid-20th century, are tapering off.

Bioengineered crops are widely grown in Canada, Argentina and the U.S., where nearly all soybeans, most cotton and a growing proportion of corn are designed for tolerance to herbicides or resistance to insects. A virus-resistant GM variety of papaya is commercially grown in Hawaii and China.

Biotechnology is bound to play an important role in the agriculture of the future, Robert Zeigler, director of the International Rice Research Institute, said in an interview with The Associated Press at IRRI’s headquarters south of Manila in the Philippines.

Such crops “bring tremendous power and advantages to producers and consumers,” Zeigler said, noting the potential savings from reduced use of farm chemicals and of fuel for the tractors to spread them.

After delaying the long-expected commercialization of GM grains for years, China’s leaders in July endorsed a 13-year, $2.9 billion program to promote use of genetically altered crops and livestock. Beijing is on the verge of releasing an insect-resistant rice variety, Zeigler said.

Chinese Premier Wen Jiabao is a champion of the new agriculture.

“I strongly advocate making great efforts to pursue transgenic engineering. The recent food shortages around the world have further strengthened that belief,” Wen recently told Science magazine.

He praised the benefits — higher farm incomes and reduced use of pesticides — from widespread use of so-called Bt cotton engineered to prevent bollworm infestations.

The trend extends beyond China: Worldwide cultivation of bioengineered crops has expanded by over 10 percent a year for a decade, although by 2007 it still had reached only 282 million acres, an area about the size of Cuba, in 22 countries.

Vietnam is pushing ahead with an ambitious program to develop commercial GM crops to reduce reliance on imports. In May, South Korea, which already imports GM soybeans, began importing bioengineered corn to help bridge shortfalls of conventional corn after China began limiting its exports.

Last month, Brazil’s National Biosafety Commission approved two new varieties of genetically modified corn seeds, after giving the green light two years ago for GM varieties of soybeans. India has followed China’s example, tripling acreage of GM cotton, the only bioengineered crop it allows.

In Africa, where governments have sometimes rejected food aid shipments containing GM grains, South African scientists have completed field tests of a potato developed to fend off tuber moths. They also recently approved trials of sorghum genetically enhanced to improve the digestibility and nutritional content of the coarse grain, which thrives in arid soils.

European countries face growing pressure, under World Trade Organization rules, to open their markets to GM products. Many among the EU’s 27 member nations remain wary and, backed by consumers opposed to what some call “Franken-foods,” are fighting to keep genetically altered crops out of their fields and supermarkets.

“Why should we change what nature has given us, when it is everything we need?” asked Filippo De Angelis, selling newspapers at a kiosk in Rome. “I don’t think we can solve the problem of world hunger through genetics.”

Even in China, despite its hefty investments in the research, few are familiar with genetic modification. Some who have heard of it remain cautious.

“It’s impossible to know if it’s harmful to the body,” said Zheng Wencai, a retired architect in Kunming shopping for soybeans in a downtown market. “There is still a global debate on this. So basically, I don’t use it.”

Besides papayas, China allows farmers to grow GM varieties of green peppers and tomatoes, along with several nonfood crops. But genetically modified rice and wheat are still in field tests.

Those test facilities are kept under high security, both to prevent contamination of non-GM crops and to protect the country’s own GM technology. Beijing seems determined not to cede its potentially huge local markets to big agribusinesses like the U.S. company Monsanto and Switzerland’s Sygenta AG.

“In general, the government has a very positive view toward GM technology and its products,” says Lu Baorong, a member of the National Biosafety Committee, whose desk at Shanghai’s prestigious Fudan University was piled with GM rice seed samples to be tested on Hainan, a tropical southern island.

“Since China is a big country and we have so many people to feed, to have our own technology and guarantee food security is very important,” Lu said.

He wouldn’t speculate on a timeline for commercial approvals of GM rice.

Ultimately, widespread cultivation of such crops will depend on work done at IRRI and by researchers like Zeng, who have spent years painstakingly searching for traits that might unlock the secrets to future abundance.

Zeng views genetic engineering as just one of many strategies, including irrigation and soil improvements and better farm management, needed to increase productivity to ensure future generations will have enough to eat.

“Without all these, it will be very hard to boost output further. There will be breakthroughs, but it will be very hard,” he said.

Dec 11

Property prices in China may see a huge downward pressure this year as economic uncertainties worsen and more affordable housing enters the market, experts said.

Beijing is planning to construct 28.3 million sq m of residential buildings this year, and 43 percent of this would be affordable housing. Shanghai, too, has a similar plan, with affordable housing accounting for 45 percent of the newly constructed dwellings this year.

Qi Ji, vice minister of housing and urban-rural construction, said the government would spend 900 billion yuan on building affordable housing over the next three years.

“The entrance of so many government-subsidized dwellings would definitely drag down property prices and reinforce people’s wait-and-see attitude,” said Huang Yu, vice president, China Index Academy, a property research institute.

The worsening economic outlook, coupled with increasing job risks and salary cuts have also made prospective buyers think twice before buying new homes.

Ma Jun, chief economist, Deutsche Bank, said the trend of property market usually follows the overall economy.

“There is still room for property prices in China to fall this year,” said Ma.

Huang, however, feels that property transaction volumes would rebound this year as prices adjust themselves to more reasonable levels.

“The second-home buyers will play an important role in this year’s housing market as more favorable policies can be expected to reduce transaction costs,” he said.

Experts are of the view that the government needs to introduce measures such as permitting buyers to deduct their home purchases from income tax to revive the property market. Finance ministry officials, however, feel that new tax incentives are unlikely in the near term.

Wang Xiaohua, deputy director of the tax department, Ministry of Finance, said the government would examine the effectiveness of steps taken last year before taking any further action.

Dec 8

Those who view aging as an ugly inconvenience usually turn to plastic surgery to nip and tuck their troubles away. Little do they know the answer for reversing the aging process might be found in their own stomachs.

Run in conjunction with the Beijing Tian Tan Puhua Hospital, which offers stem cell therapies to last-hope Parkinson’s and spinal cord injury patients, the RNL Puhua Plastic and Cosmetic Medical Center offers stem cell therapy for the face that may reverse the aging process using the patient’s own body matter.

Using a treatment developed by Korean company RNL Bio—the same company that clones dogs and sells them on the international market for upwards of USD$150,000—the Puhua Center offers non-invasive beauty treatment alongside traditional plastic surgery staples like liposuction, face peels and eye tucks.

For a cool ¥28,000, patients can have fat cells removed from their abdomens using a needle and local anesthetic. Two weeks later, after doctors have grown a crop of stem cells from the collected fat cells, patients return to have doctors inject the stem cells into their faces in a series of shots that plump out skin, erase wrinkles and generally take a decade off your appearance, says Ingela Palomäki, a former Beijing Tian Tan Puhua Hospital marketing representative and current director of Fortune Cookie, a stem cell product import/export company. Included in the price is a stem-cell top-up six months later. Patients can also have their stem cells stored at the clinic for ¥1,500 per year. Stem cells have a shelf life of about 15 years. The clinic is currently the only place in the world offering the therapy, Palomäki says.

RNL Bio flew in aging South Korean celebrity Kyung-gyu Lee for a test-run of the treatment at the clinic’s inauguration less than half a year ago.

“Koreans are flocking here by the busloads for the treatment,” Palomäki says. “It’s buying time.”

Because the treatment uses the patient’s own cells, there is no risk of the body rejecting the injections, she points out. The only concern is that the stem cells could copy cancer cells in the body—so cancer patients and survivors will want to take a pass.

While the U.S. and other countries weigh the benefits of stem cell therapies, many patients from abroad are already coming to Beijing for therapies they hope might make them forever young.

Dec 6

China on Thursday called on parties involved in the Korean Peninsular nuclear issue to show restraint and do more to promote the six-party nuclear talks.

Foreign Ministry spokesman Qin Gang made the remarks in response to a question concerning the Democratic People’s Republic of Korea (DPRK)’s planned satellite launch.

“We hope all parties involved to show restraint and keep cool-headed at the current stage, and do more to facilitate the six-party talks process and contribute to peace and stability of the Korean Peninsula and the northeast Asia,” Qin said.

The DPRK declared on Feb. 24 that it was going to launch a communications satellite as part of a peaceful space program. But the United States, Japan and the Republic of Korea worry that the DPRK is going to test-fire a long-range ballistic missile.

The DPRK’s Korean Central News Agency said Tuesday that any intervention in the country’s space program could lead to a collapse of the already-stalled six-party talks, and declared that the launch would take place between April 4 and 8.

Qin urged all parties involved to properly settle relevant issues and make joint efforts to revitalize the six-party talks.

“China has clear and persistent stance on the Korean Peninsula nuclear issue, and is ready to play a constructive role to maintain regional peace and stability,” he added.

Dec 5

The South African Health Department has conceded that it was slow to respond to the global influenza A/H1N1, the Sunday Independent newspaper reported on Monday.

“We understand the criticism,” said Fidel Radebe, a health department spokesperson. But he justified the government’s tardy response to the epidemic - which is on the brink of being declared a pandemic by the World Health Organization - by the fact that “no one knows what the epidemic is going to do tomorrow”.

As medical experts condemned the rush to buy thermal imaging scanners at a cost of half a million rands (118,000 U.S. dollars) each for installation at South Africa’s major entry ports.

The Sunday Independent has established that the novel flu can be treated with Tamiflu - the same medicine used to treat avian flu - of which the Department of Health has sufficient stock to treat 100 000 people. There is an unknown amount in the private sector, with at least 200 000 doses being held by local drug companies.

This week, the South African government announced that its national influenza preparedness plan, compiled two years ago, would now be activated. There will be a multi-sectoral meeting involving national and provincial departments of health to discuss their preparedness on Tuesday.

In terms of the South African government’s risk assessment, the highest chance of contracting influenza A/H1N1 remains from contact with people coming into the country. As a result of this, health officials at the country’s ports of entry changed strategy.

Until Friday, passive testing had involved port health officers asking flight crew whether anyone was sick on a flight. Now all passengers on flights arriving from affected countries must complete questionnaires asking for possible symptoms and what their travel patterns have been.

Thermal imaging scanners are still to be installed at OR Tambo International this week, despite the admission by health officials and warnings from medical professionals that these are not a reliable means of determining whether or not a person is infected.

A machine was installed at Lanseria airport last year, but there was a problem with the installation of two scanners at OR Tambo because of renovations, said Dr Frew Benson, chief director for communicable diseases in the Health Department.

Benson conceded, though, that the scanners were not foolproof.

Professor Duncan Mitchell of the School of Physiology at Wits University said it was impossible for scanners to detect a virus in passengers entering an airport. “First, they cannot reliably detect a fever. In more than 30 years in fever research, I never have come across a dependable way of estimating deep body temperature from face skin temperature, which is what the scanners measure. The skin is cool at the beginning of fever, normal during the stable phase of fever, and warm when the fever breaks, so, if anything, a hot skin means the fever is over. ”

“Second, even if the scanner could detect a fever reliably, there would be no way of the scanner diagnosing the fever as being caused by a virus,” he said.

Mitchell questioned why the scanners were being purchased when there was no scientific justification for them.

He also explained that evidence showed that masks had limited success. “What people need to know is not to panic,” Benson said. “It is not normal for people who have flu to wear masks. We are in our annual flu season and you have a greater risk of contracting normal flu than influenza A/H1N1.”

The professor added, “The best way to kill it is through social distancing. If a person is sick, stay home from work or school, take an anti-inflammatory, take in lots of liquids and look at bedrest.” He emphasized that influenza A/H1N1 had a lower mortality rate than bird flu, or even cholera.

Dec 2
Married celebrity entrepreneurs
Posted by admin in Uncategorized on 12 2nd, 2009| | No Comments »

Beauty, fame, entrepreneurial success–that’s more than most of us can hope for.

Now imagine marrying someone who also brought those qualities to the altar. Such rare, dynamic duos exist. Each on his or her own is a force–in entertainment, fashion, food, you name it–but together, these couples give new meaning to the expression “power couple.”

Take Beyonce Knowles, 27, and husband Shawn Corey Carter, aka Jay-Z, 39. The former lead singer of girl group Destiny’s Child, Knowles has rocked a Grammy-winning multi-platinum R&B solo career since 2003. She’s also appeared in movies like Dreamgirls and The Pink Panther, and has racked up millions in endorsement fees from the likes Pepsi, L’Oreal and Armani.

Hip-hop hubby Jay-Z, meanwhile, is no slouch as an entrepreneur. Former chief of the Def Jam record company, he also founded clothing line Rocawear in 1995, which he sold to Iconix Brand Group in 2007 for $204 million. Concert promoter Live Nation recently signed Jay-Z to an exclusive 10-year, $150 million deal covering all merchandising, promotion and touring. Beyond the music and fashion realms, Jay-Z owns 40/40, a chain of upscale sports bars, and has a $4.5 million stake in the New Jersey Nets basketball squad. Real estate holdings include a mid-block parcel on the West Side of Manhattan, purchased for $66 million in late 2007, on which he plans to build a hotel.

Makes you tired just thinking about it all. It begs the question too: When do these busy lovebirds ever get a chance to share a relaxing cup of coffee?

Then again, when you’re hardwired for accomplishment, down time doesn’t take top priority. “Could you imagine if I didn’t work and just sat and home and waited for him once my kids went to bed?” asks Gelila Assafa Puck, second wife of celebrity chef Wolfgang Puck. Ethiopian-born Assefa Puck owned her own Los Angeles couture store from 1998 through 2001. In 2006, she launched a line of high-end handbags, manufactured in South Africa, that sell for $7,000 to $30,000. (She says she hopes to return to fashion design when her 2- and 4-year-old sons are old enough for school.) If that weren’t enough, she also operates a non-profit in Addis Ababa, Ethiopia, that sponsors secondary schooling for about 400 children.

Supermodel turned furniture- and cosmetics-marketer Cindy Crawford admits that finding enough quality time with club-owner husband Rande Gerber and their two kids can be a struggle. Get it right, though, and there’s a hidden upside, she says: “If you love your job and you’re passionate about it, it’s good for the kids because they see me doing work that I like.”

As for Gerber, he knows the power couple has to stay vigilant to maintain the right balance. “We make our own schedules, and we go over them often to make sure we’re together enough each month and with our kids,” he says.

Another benefit to tying up with a celebrity entrepreneur: synergy. Gerber’s international portfolio of bars, hotels and nightclubs–including the Stone Rose Lounge in New York, L.A. and Scottsdale, Ariz.; Midnight Rose in Madrid, Spain; and the Rose Bar in Cancun, Mexico–syncs well with Crawford’s living billboard persona. “In some cases, one plus one is more than two,” says Crawford. “Rande gives me a cool factor. He’s New York and a nightclub guy. I probably give him the glitz and glamour factor.”

Yet a third dimension to celebrity unions: “A relationship or marriage gets the public to see a celebrity in a different light as a wife, husband, mother or father versus a movie star or a TV star,” says Chalcea Park, managing director of talent and licensing for Davie Brown Entertainment, a branding consultancy. That connection can endear customers to an enterprise in a way that a two-dimensional magazine page or a movie screen can’t.

Last but not least, there’s the good, old-fashioned empathy and support that come from being married to someone who truly understands your plight–and who can offer a welcome fresh perspective. “If there’s a big decision, [Rande and I] talk to each other,” says Crawford. “We do very different work, and it’s good, because he can give me a totally different perspective on business decisions.”

Nov 30

The World Economic Forum’s Energy Community last week launched the “Thirsty Energy - Water and Energy in the 21st Century” report.

The report explores the risks and opportunities inherent in the ancient relationship between energy and water, which has taken on a new urgency as competition for finite freshwater resources rises.

Produced in partnership with Cambridge Energy Research Associates (CERA), the report includes perspectives from prominent experts and decision-makers.

Water is critical to energy production, yet the water/energy nexus is often overlooked.

“The importance of bringing water into the energy equation now cannot be underestimated as we are heading for a more water-scarce future,” said Christoph Frei, senior director and head of energy industry at the World Economic Forum.

“Optimizing future energy choices is becoming a ‘trilemma’ as water implications need to be considered alongside energy security and climate change impacts,” he added.

“Water is increasingly moving from an operational issue to one of strategic significance,” said Daniel Yergin, CERA chairman and IHS executive vice-president.

“Understanding how to best optimize the use of water and energy in a carbon-constrained environment is becoming critical for both business leaders and policy-makers. The industry’s goal must be to use water resources wisely while taking into account climate change and energy security concerns. Finding solutions that optimize along all three parameters will be a challenge for energy companies for decades to come.”

Although water covers nearly three-quarters of the earth’s surface, only 3 percent is available for human use.

Agriculture is the primary user of freshwater, representing 70 percent of freshwater withdrawn worldwide.

A second, fundamental use of water is industrial, including producing energy for economic development.

Today, the energy sector uses about 8 percent of all freshwater withdrawn worldwide and as much as 40 percent of freshwater withdrawn in developed countries.

Energy is also a key input to the water value chain, used to power water movement and treatment.

Distinguishing between the volume of water withdrawn and the volume consumed is very important when discussing how various parts of the economy use water.

“Water withdrawn” is the total volume removed from a water source; often, the bulk of this volume is returned to the source, particularly when water is used for cooling, as in power plants.

“Water consumed” is the volume not returned to the source.

Water withdrawal amounts matter from a risk perspective as energy production relies on water availability for smooth operations.

The report concludes that pressure on freshwater resources will translate into the need to use water much more efficiently throughout the energy value chain.

More efficiency

Although water worries are global - especially with climate change - water solutions are local as transporting water over long distances is not economically feasible.

Translating global water worries into local solutions requires a better understanding of the complex relationship between water and energy.

Despite the fact that different energy technologies consume different amounts of water, no energy technology is inherently good or bad from a water perspective; it all depends on the local context.

Nevertheless, water issues will impact future energy choices.

Energy companies will increasingly be called upon to be partners in managing the world’s water resources.

Nov 28

Britney Spears proved she was alive and kicking by taking her family out on a boat trip.

The singer, who was the victim of a malicious hacker earlier in the week, headed out for a jaunt along the California coast yesterday with Jayden James and Sean Preston.

The trip provided happy evidence that she is fine and well after her Twitter micro-blogging page carried the astonishingly heartless message that she had died.

The posting, left by a hacker, read: ‘Britney has passed today. It is a sad day for everyone. More news to come.’

However, soon after the message was deleted when an official member of Britney’s crew insisted she was alive and well.

A post read: ‘Britney’s Twitter was just hacked. The last message is obviously not true. She is fine and dandy spending a quiet day at home relaxing.’

After completing the UK leg of her Circus tour last month, Britney is currently enjoying a two week break before she continues the European leg of her The Circus… Starring Britney Spears tour in Paris on Saturday.

And on Tuesday, the newly-brunette pop star brought Sean Preston, three, and Jayden James, two, on a yachting trip off the coast of Los Angeles

Setting off from the port of Marina Dey Rey, Britney looked relaxed in a stripy blue and white t-shirt and denim shorts as she hung out with her sons, a blonde friend and a bodyguard.

Sean and Jayden looked equally cool as they shielded their little eyes from the sun in matching green sunglasses and light blue shirts.

Britney is clearly loving being with her sons after being forced to spend lengthy times apart during a rocky 2008 when her ex-husband Kevin Federline was given custody of the boys. Mail Online reported.

However, under a recently agreed custody deal, Britney will now care for her sons for over 50 per cent of the time during the summer.

While Britney is on stage for her Circus tour, which returns to North America after the European leg wraps on July 26, Kevin will accompany her to care for the children.

Nov 27

Electronic books are often mentioned in the same breath as Amazon.com Inc.’s Kindle digital reader. Now e-book rival Sony Corp. is determined to recapture consumers’ attention with a smaller reader that’s also $100 cheaper.

On Wednesday, Sony is expected to announce that it will release the Reader Pocket Edition by the end of August. Like the Kindle and Sony’s previous Readers, the Pocket Edition will come with an “electronic ink” display, which shows dark gray text on a lighter gray background. As the word “pocket” implies, its five-inch screen will be smaller than that on the Kindle and other Sony models.

Unlike other Readers, the Pocket Edition won’t play digital music files, and it won’t have a slot for a memory card to supplement internal storage that can hold 350 books.

It will retail for $199, a third off the price of the basic Kindle model and about $80 less than Sony’s PRS-505 reader, which will be discontinued. Color choices include blue, red and silver.

The device is entering a small but growing market. U.S. e-book sales totaled $113 million last year — up 68 percent from 2007 but still a fraction of the estimated $24.3 billion spent on all books, according to the Association of American Publishers.

Steve Haber, president of Sony’s Digital Reading Business Division, expects the Pocket Edition’s price tag will lure new consumers who haven’t wanted to shell out for such a device thus far.

And he’s not worried that the Pocket Edition’s chances for success will be diminished by the rising popularity of reading e-books on smart phones like the iPhone and BlackBerrys.

“Once you see it, it’s been a consistent response of, ‘That’s cool,’” he said.

Sarah Rotman Epps, a media analyst at Forrester Research, said the Pocket Edition’s price below $200 breaks an important psychological barrier.

“This is something that is affordable for the holiday season, and I think that you’ll see sales of e-readers outpacing current forecasts,” she said.

Her current forecast calls for sales of 2 million digital reading devices this year; she said a little more than 1 million were sold by the end of 2008.

She doesn’t expect Amazon to rest on its laurels, adding that the online retailer will have to respond to counter Sony’s new price point.

Sony is also announcing on Wednesday the release of a $299 touch-screen model to replace its existing $350 touch-screen PRS-700. The Touch Edition will have the same six-inch screen as its predecessor but not the PRS-700’s built-in light. Haber said removing the light will correct some screen clarity problems it has caused.

With the PRS-700, users can highlight text and take notes with a touch-screen keyboard. On the new model, users also can write notes with a finger or a stylus that is included.

The new model has a built-in dictionary and is faster at changing pages when readers swipe a finger across the screen. It will sell in red, silver or black and can hold 350 books in its built-in memory or more on a memory card.

A big difference between Sony’s Readers and Amazon’s Kindle has always been the lack of wireless access for quick and simple downloads of books. The new models are no different: They have to be connected to a computer to acquire books.

For the first time, they will be compatible with PCs and Mac computers, though. Sony will offer current Reader owners a software update to make theirs compatible with both.

As he has indicated in the past, Haber said Sony is working on a wireless model, though he wouldn’t say when.

Sony also is adjusting prices to some of the e-books it sells through its online eBook Store. New releases and best-sellers will now sell for $10, $2 less than current prices. Amazon’s Kindle Store offers most best-sellers and new releases for $10.

Sony’s eBook Store includes more than 100,000 books, as well as a million free public-domain books available from Google Inc. through its Google Books project. The Kindle Store currently has more than 330,000 available titles.

The Kindle can only download books from Amazon’s store, while Sony’s Readers can display texts sold in the “epub” format — an open standard supported by the International Digital Publishing Forum that numerous publishers use to make e-books.

« Previous Entries Next Entries »