Chinese firms see demand slump

Chinese auto dealer Dah Chong Hong Holdings amassed so much inventory this year that it would take 63 days to sell all of its Bentleys, Toyotas and Isuzus, up from the 42 days’ supply it carried in December. For rice wine maker Shanghai Jinfeng Wine Co, a 14 per cent inventory rise plus slowing demand means it would take 22 months to clear stockpiles at current sales pace, as against nine months at the end of last year, data shows.

As China’s economic growth cooled to a three-year low, inventories swelled with consumer firms such as auto dealers, food makers, liquor companies and department stores, according to an analysis of balance sheets from 350 Chinese companies. The bloated inventory complicates Beijing’s efforts to shore up growth as it prepares for a once-a-decade government leadership transition later this year.

About one in three consumer firms recorded inventory growth of at least 10 per cent between December 2011 and June 2012. Dah Chong Hong’s $296.5 million jump was the largest sum in the sample of companies examined. “Resolving inventory problems will have to take two to three years to see the results and it’s impossible to see a major effect in a couple of months,” Kim Jin Goon, executive vice chairman of a sportswear company said.

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Soon, a lotion that can cure baldness

Scientists claim that a hair lotion that cures baldness by stopping the effects of a single guilty enzyme could hit the market within two years. They found that a single enzyme has a major role to play in male-pattern baldness, as experienced by the Prince William. The researchers are already in talks with pharmaceutical firms about making the product, which would work by stopping the effects of a single guilty enzyme.

The US-based dermatologists announced earlier this year that they had found an enzyme, called prostaglandin D2(PGD2), instructed follicles to stop producing hair. Scientists identified it by screening 250 genes implicated in hair loss, the Telegraph reported. George Cotsarelis, head of dermatology at Pennsylvania University, said that the one responsible for levels of PGD2 played “the major role”.

He said he was now in talks with several drug firms about creating the anti-baldness product. Drugs are already available in the market than reduce PGD2 levels, as it has been implicated in asthma, holding out the hope that developing a related product for baldness could be speedy.

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Indian-American wins primary

Hindu-American Tulsi Gabbard has won the Democratic party primary for the US Congress from Hawaii, with her nearest rival conceding defeat. Since this is a strong Democratic Party seat, her victory in the November Congressional elections is said to be a certain, which will make her the first Hindu American ever to be a member of the US House of Representatives.

In her victory speech in Honolulu, Gabbard, 31, thanked her supporters. “I am privileged to be able to work for the people of Hawaii in whatever capacity,” Gabbard said after her rival Mufi Hannemann conceded defeat. Gabbard’s victory brought in instant jubilation among the Hindus across the United States. “Hindus in America will have voice in Congress. All major faiths have representatives in Congress with the exception of Hinduism,” said Vijay Pallod, a Hindu activist from Texas.

Dalip Singh Saund, the first Indian-American elected to the House of Representatives in 1950s was a Sikh, while Bobby Jindal, the second Indian-American to make it to the House of Representatives has converted to Christianity. Proud of her Hindu religion, she is not Indian or of Indian heritage. Her father Mike Gabbard, is currently Hawaii State senator and mother Carol Porter Gabbard is a educator and business owner.

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