Finished an issue of BusinessWeek. In China, MNCs are competing with local companies for a more discerning Chinese consumer. Singapore�s very own Osim Co. is buying over Broostone Inc. for US$445m in order to break into the huge US massaging chair market. Apple�s iPod Nano is using Samsung�s NAND flash-memory as its storage. Sales of these Nand flash-memory chips have quadruplet in recent yrs from US$2.3b in 2002 to a projected US$10.1b this yr n more is expected in coming yrs. In Germany, Mercedes Car Group is planning to cut 8500 jobs which stunned its employees. The German car manufacturer is undergoing a massive makeover to better compete with BMW n other luxurious car manufacturers.

In Russia, rising living standards, a patriotic mood, n savvier filmmaking sparked a revival in the movie making industry in the country. The DVD format war continues. With Bill Gates of Microsoft supporting the HD-DVD format, Howard Stringer of Sony Corp. is unfazed that its Blu-Ray DVD format will win the battle in the end. In the IT world, Google Inc n Sun Mircrosystems is setting up an alliance that could one day loosen Microsoft�s hold on the PC industry. In the US, small sized cars have suddenly become more popular. The main reasons are small seemed to be the more beautiful design right now n it saves a lot on fuel. In the midst of high fuel prices, a smaller car is the better choice.