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SAN FRANCISCO, Nov. 22 (Xinhua) -- Microsoft announced on Tuesday that it has acquired video search engine VideoSurf.In a press release, Microsoft said it will integrate VideoSurf' s technology across its entertainment platform to augment the Xbox 360 ecosystem and evolve search and discovery of entertainment content on Xbox LIVE.Details of the deal were not disclosed. Technology news site TechCrunch cited Israeli business newspaper Calcalist as saying that the company was bought for about 70 million U.S. dollars.The San Mateo, California-based company, founded by four Israelis in 2006, offers a technology that "sees" frames inside videos to make discovering content fast, easy and accurate.Since its founding, VideoSurf has raised 28 million dollars from several sources, including Facebook chief operating officer Sheryl Sandberg and her husband, as well as former U.S. vice president Al Gore.Last month, Microsoft announced that it will bring cable television content to its Xbox video game console over the holiday season, expanding the console into an entertainment hub.The software giant said Tuesday that the latest acquisition will make it easier for world-class video partners to take full advantage of advanced search features.

SAN FRANCISCO, Nov. 9 (Xinhua) -- Cisco Systems Inc., the world 's biggest networking equipment maker, on Wednesday reported that its profit fell about 7.9 percent in the most recent quarter.In the company's fiscal 2012 first quarter ending on Oct. 29, Cisco posted its net income of nearly 1.78 billion U.S. dollars, compared with 1.93 billion dollars in the same period a year earlier.Excluding some items, earnings per share in the quarter were 43 cents, better than the 39 cents estimated by analysts, according to Bloomberg.Cisco's sales in the quarter reached 11.26 billion dollars, an increase of 4.7 percent year-on-year and also topped analysts' projection of about 11 billion dollars."We delivered a solid quarter," John Chambers, Cisco's chief executive officer, said in a statement."We've completed the majority of our restructuring and have organized Cisco to successfully execute against our strategy of providing intelligent networks, architectures and integrated products that solve customers' business problems," he added.

BEIJING, Dec. 24 (Xinhua) -- Renowned China economist Li Yining said Saturday that adjusting the structure of China's economy is a "matter of life and death" while the structure of GDP is more important than its size.The focus of the country's economic structure adjustment now should be transforming the dual structure in the urban and rural economy, which causes the widening income gaps between urban and rural residents, Li said at the China Economic Forum.He also noted that the key to stimulating domestic demand is to raise the workers' wages.With the external demand waned, the Chinese government has attempted to turn to domestic consumers to take up the slack. The country vows to expand domestic demand next year and increase residents' income, especially for disadvantaged groups.However, Li said raising household income is not enough and the government also needs to improve its social security system as well as increase construction of affordable houses and public rental houses.The country plans to begin construction or renovation on at least 7 million housing units for low-income groups next year, Minister of Housing and Urban-Rural Development Jiang Weixin said Friday.