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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. 11 (Xinhua) -- China's foreign exchange regulator said Friday it did not suffer any losses from its investment in Fannie Mae and Freddie Mac bonds, adding that media reports of up to 450 billion U.S. dollars of losses were "groundless.""Up until now, the capital and interest repayments of Fannie Mae and Freddie Mac bonds is normal, and no losses have incurred," The State Administration of Foreign Exchange (SAFE) said on its website.Annual yields of the bonds were around 6 percent between 2008 and 2010, the SAFE said.The regulator, which oversees China's more than 2 trillion U.S. dollars of foreign exchange reserve, also clarifies it had not bought any stocks of the two troubled mortgage companies.UPI reported on Friday that the Obama Administration will propose phasing out the two mortgage giants after rescuing them, which is part of a U.S. Treasury Department white paper to Congress that lays out three ways of cutting government support to the 10.6 trillion U.S. dollars mortgage market.

JERUSALEM, May 8 (Xinhua) -- Israeli researcher Jacob (Koby) Scheuer, from the Tel Aviv University (TAU) School of Electrical Engineering, has developed a nano-scale gyroscope, the Ha'aretz daily reported Sunday.Scheuer developed a new optic-fiber nano-sensor four years ago, along with an optic gyroscope that works in conjunction with the sensor. As he developed the devices, it occurred to him that his discovery could be harnessed to surgical needs, virtual reality, or communications, said the report."What we developed here is an optic gyroscope," Scheuer told Xinhua in a recent interview on Sunday, "like the others, but the breakthrough is that we found a way to measure rotation in a very, very small device using the optic sensor."Optic gyroscopes emit light when they rotate, and change its wavelength when there is any change in the speed of rotation, making it possible to measure velocity and position by the differences in light.Scheuer's gyroscope, however, is so small in comparison to the others commonly used in planes, trains and vehicles, that it can be used in cell phones or watches and does not need satellite connection like the ubiquitous Global Positioning System.The applications of this gyroscope and optic sensor are almost endless, as Scheuer puts it."It can be a pill that you swallow and can move through your body to take pictures or release drugs in a localized area," the researcher explained, "or it can be used by a doctor to operate on a patient who is thousands of kilometers away.""Our gyroscope has complete independent navigation capability, which the others don't have," he stressed.Though the new optic gyroscope works in theory, it still hasn't been tried in out in reality. "It will take some time until we can empirically demonstrate our work, I would say about three to five years," Scheuer added.Alongside the gyroscope, Scheuer continues to work on the optic sensor, whose applications can also be found in security, such as an information security system developed by Scheuer to safeguard online information that acts as a key bearer."When both parties have 'the key' it's virtually impossible to hack the information sent," Scheuer noted, terming the development as a "total paradigm change."

SAN FRANCISCO, March 20 (Xinhua) -- Boeing's 747-8 Intercontinental took to the sky for the first time on Sunday, a milestone for the U.S. aviation giant's latest and biggest passenger plane.Live webcast by Boeing showed that a 747-8 Intercontinental touched down at around 2:25 p.m. PST (2125 GMT) Sunday at the Boeing Field airport in Seattle in the U.S. states of Washington, after wrapping up the airplane's inaugural flight that lasted about four and half hours.During the test flight, the pilots did some system and function checks and everything went fine, according to the webcast.The new 747-8 Intercontinental can carry 467 passengers in a three-class configuration, said Boeing, which touted the new wide- body jet airliner as the only airplane in the 400-500 seat market.The Boeing 747-8 Intercontinental takes off on its maiden flight from Paine Field, in Everett, Washington, March 20, 2011. The 747-8 Intercontinental willseat 467 passengers, 51 more than the latest model of the classic 747, and burn less fuel while offering passengers more comfort, the U.S. planemaker says.Using 787-technology GEnx engines, the airplane will be quieter, produce lower emissions and achieve better fuel economy for airlines, Boeing said.The airplane also features a new wing design and an upgraded flight deck. Its interior incorporates features from the Boeing 787 Dreamliner including a new curved, upswept architecture that will give passengers a greater sense of space and comfort, while adding more room for personal belongings.Boeing has noted that compared with its predecessor, the 747- 400, the 747-8 Intercontinental provides 16 percent better fuel economy, 16 percent less carbon emissions per passenger and generates 30 percent smaller noise footprint, while carries 51 more passengers.Boeing in February said that Korean Air, VIP customers and launch customer Lufthansa have ordered a total of 33 747-8 passenger planes, with the first delivery scheduled for the fourth quarter of this year.It is reported that the 747-8 Intercontinental has a list price of about 317 million U.S. dollars.Earlier in March, Boeing announced that it has signed an agreement with Air China for the purchase of five 747-8 Intercontinental jetliners.

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