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SAN FRANCISCO, April 28 (Xinhua) -- Cisco Systems Inc., world's largest maker of computer-networking equipment, on Thursday brought up an early retirement offer to its employees in the United States and Canada, in a move to cut costs and restructure the company.The voluntary plan applies to employees who are at least 50 years old and have a combined age and years of service at Cisco for at least 60 as of July 8, the company said in a memo sent to employees."Cisco employs a variety of different methods to control costs and align investment dollars, and offering this voluntary early retirement program to those eligible employees in the U.S. and Canada is part of our ongoing commitment to responsible business management," the company said in a statement.Cisco gave no details on the costs it would save and the number of employees eligible for the plan.Earlier this month, Cisco CEO John Chambers warned that "tough decisions" would be made to preserve profitability as government budget pressure has been costing the company orders and slowing its sales growth.On April 12, Cisco announced to shut down its Flip Video camcorder business to restructure its business and support its key priorities.

BEIJING, Feb. 9 (Xinhua) -- China's Ministry of Agriculture on Wednesday urged more measures be taken to minimize the impact of a drought due to the possibility that the winter drought may continue into spring.The country's winter wheat producing regions have suffered severe drought since October last year, and the possibility of spring drought is surfacing, Minister of Agriculture Han Changfu said in a statement posted on the ministry's website.Spring drought following the winter one will be a significant threat to summer grain production, he said.As of Wednesday, the drought had affected about 115.95 million mu (7.73 million hectares) of winter wheat in the country's eight key producing provinces, which account for 42.4 percent of the total winter wheat growing areas in the regions, the statement said.China's main wheat growing regions include the provinces of Shandong, Henan, Hubei, Anhui, Shanxi, Shaanxi, Gansu and Jiangsu.Han urged agricultural authorities to be "fully aware of the extreme significance" of a summer harvest this year and strengthen their efforts to assure a successful harvest.Summer grain and oil production is crucial to easing inflation pressures and stabilizing grain output for the entire year, he said. "To have a summer harvest, the current pressing job is to protect winter wheat from drought," he said.There are currently positive factors for a summer harvest, including an adequacy of water for spring irrigation, according to Han.He ordered local agricultural officials to work to stabilize spring planting areas and ensure that the areas for grain planting will be equal to that of last year.Local agricultural officials were also asked to strengthen supervision over market supplies of agricultural materials to keep prices stable.Also on Wednesday, the State Council, or the nation's cabinet, pledged to boost grain production by raising minimum purchase prices of grain, subsidizing the purchase of anti-drought technologies and adding funding for farm irrigation.

NEW YORK, May 27 (Xinhua) -- U.S. stocks expanded gains on Friday ahead of the long Memorial Day weekend as surging commodity prices overcame disappointing economic data.European Central Bank Governing Council member George Provopoulos said that Greece might deal with its debt problem if it sticks to the aid program. That comment, which was considered as bullish by investors, drove the U.S. dollar weaker and led commodity prices surge on Friday.The stock market was driven by higher commodities prices, with thin trading volume ahead of the Memorial Day holiday, despite somewhat disappointing economic data on Friday.The Commerce Department said that both personal income and spending rose 0.4 percent in April, in line with market estimates. However, the rise in spending was the smallest in three months, suggesting the consumption situation was still weak.Meanwhile, pending home sales dropped 11.6 percent in April. The reading was a seven-month low. The market expectation was a drop of 1 percent.Moreover, the Thomson Reuters/University of Michigan Consumer Sentiment index came in above analysts' estimates. Concerns about higher gas prices and inflation had knocked the gauge down in March and April.Despite those disappointing data, analysts still held a bullish view toward the stock market. "Despite our near-term caution, we continue to see the S&P 500 reaching 1400 over the coming year," Alec Young, equity strategist of S&P Equity Research told Xinhua.According to Alex, while recent macro headwinds were raising questions about the sustainability of recent earnings momentum, he still believed that a downside trend of market was fairly limited and that the current weakness is more likely to be a correction, rather than the beginning of a new bear market."In our view, 2011 estimated EPS would have to be excessively optimistic to justify a bear market,"he added.The Dow Jones industrial average added 38.82 points, or 0.31 percent, to 12,441.58. The Standard & Poor's 500 was up 5.41 points, or 0.41 percent, to 1,331.10. The Nasdaq Composite Index rose 13.94 points, or 0.50 percent, to 2,796.86.

BEIJING, Jan. 27 (Xinhua) -- China Thursday allocated 1.039 billion yuan (157 million U.S. dollars) for areas hit by natural disasters last year.The relief funds, jointly allocated by the Ministry of Civil Affairs and the Ministry of Finance, will be used for disaster survivors to buy food, clothes, quilts and heating devices.A Ministry of Civil Affairs statement said local finance and civil affairs authorities have been ordered to publicly disclose relevant information.In 2010, several natural disasters hit China, including the 7.1-magnitude Yushu earthquake that left 2,200 people dead and the Zhouqu mudslide that left 1,700 people dead or missing.On Nov. 18, 2010, the two ministries jointly allocated 4.1 billion yuan (617 million U.S. dollars) to help natural disaster survivors pass the winter.

SAN FRANCISCO, April 28 (Xinhua) -- Microsoft Corp. on Thursday posted quarterly revenue and earnings that both beat analysts' expectations.In its fiscal 2011 third quarter ended on March 31, the software giant reported revenue of 16.43 billion U.S. dollars, up 13 percent from the same period a year earlier.Net income and earnings per share were 5.23 billion dollars and 61 cents, representing increases of 31 percent and 36 percent respectively year-on-year.Analysts had expected earnings of 56 cents per share on revenue of 16.19 billion dollars, according to Thomson Reuters."We delivered strong financial results despite a mixed PC environment, which demonstrates the strength and breadth of our businesses," Peter Klein, chief financial officer at Microsoft, said in a statement."Consumers are purchasing Office 2010, Xbox and Kinect at tremendous rates, and businesses of all sizes are purchasing Microsoft platforms and applications," he added.Revenue at four of Microsoft's five major divisions posted double-digit growth in the quarter, indicating the increase of technology spending by enterprises as well as strong demand for the company's entertainment products.The entertainment and devices division saw the biggest revenue growth of 60 percent, which according to Microsoft, were driven by strong demand for its Kinect hands-free motion control system for Xbox 360 and continued strong sales of Xbox 360 console.However, revenue for the division of the company's flagship Windows operating system dropped 4 percent in the quarter, which Microsoft said was "in line with the PC trends."The performance of the Windows division may fuel new concerns that Microsoft's dominance in software for PCs is being threatened by Apple's iPad and tablet computers running other operating systems, some analysts noted.