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World Business Quick Take

■ Health
Panel lifts cow-testing rule
An advisory panel agreed yesterday that Japan could stop testing cows under 20 months old for mad cow disease without posing a risk to public health, a news report said. The finding could lead to Japan lifting its demand that the US test its entire herd for the disease before Tokyo will lift its nine-month-old ban on US beef imports. Japan banned imports of US beef in December after the discovery of that country's first case of the disease, and the two governments have been negotiating a lifting of the ban. Japan was the most lucrative overseas market for US beef. At present, Japan requires the testing of all cows for the disease, and has been urging the US to impose a similar system.

■ Oil
OPEC head: prices to fall
Crude oil prices are expected to fall over the coming two months as supply uncertainties fade and markets settle on the expectation of a smooth US presidential election, OPEC's president said yesterday. "Future trading for September-October indicates a trend toward a drop in prices and this is good news," Purnomo Yusgiantoro, who is also Indonesia's energy minister told reporters. He said prices would begin to slide ahead of the US presidential vote in November, which is expected to proceed without a hitch, and the resolution of problems with Russian oil giant Yukos. In London, the price of benchmark Brent North Sea crude oil for delivery in October fell US$0.34 to US$41.23 a barrel on Friday.

■ Pharmaceuticals
China defends Viagra case
China yesterday defended its decision to overturn US-based Pfizer's patent for Viagra in a ruling that was widely seen as a setback to protection of intellectual property rights in the country. Deputy head of the State Intellectual Property Office (SIPO) Zhang Qin said the patent license originally granted in 2001 was invalidated after experts reviewed the case in response from complaints by more than 10 Chinese pharmaceutical companies. "The major reason for the patent office to do so was because the technological disclosure made in the patent's explanation document was insufficient," Zhang said at a press conference. The patent for the top selling erectile dysfunction drug was revoked by SIPO in July.

■ Investment
Japanese firms spend more
Capital expenditure by non-financial Japanese companies in the April to June quarter rose 10.7 percent from a year earlier, marking the fifth straight quarterly increase, the Japanese government said yesterday. Manufacturers' combined investment in machinery and equipment gained 5.6 percent while non-manufacturers' investment rose 13.0 percent in the quarter, the finance ministry said. "Among manufacturers, investment rose in the sectors involving electric machinery, telecommunications machinery and general machinery while it fell in the transportation machinery sector," the ministry said. Among non-manufacturers, investment rose in the service and retail sectors, though it fell in the real estate and electricity sectors, it said. The ministry surveyed 26,271 companies with capital exceeding ¥10 million (US$90,500) and received effective replies from 20,599.

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