Fireforks created a heavy smog over the "Bird's Nest" in Beijing as the Olympic Opening Ceremony got off to a spectacular start. This is the time and day that China and the entire world has waited and was looking forward to.

BOCOG President Liu Qi told the International Olympic Committee that Beijing has completed the preparatory work for the 2008 Olympic Games, which will write a new page in the development of the Olympic Movement.

Today was a beautiful gorgeous day in Beijing. Blue skies. Sunshine. It was scorching hot at 35 degrees. But hey, at least it's blue skies. Beijing never said anything about comfortable temperature, they're just worried about air quality and rain.

From July until October of this year, 355 collections showcasing the art, calligraphy, design, fashion and heritage of people from all over China (including Taiwan, Macao and Hong Kong) will be exhibited in Beijing. Many rare, never before seen artifacts will now be available for all to view, allowing everybody to experience a "Culture Olympics" as well as the traditional sports-centered Games.

The second full dress rehearsal of the Beijing Olympics opening ceremony will be held in the National Stadium on Saturday night, as previously scheduled.

The big day approaches, and as with any of the previous Olympic Games, in any city , whichever country, the controversy has now started. If it isn’t infrastructure problems or stadiums not finished, it is accommodation which is inadequate, small or both. It’s either security which is too heavy or it’s not heavy enough. Why should the Beijing Olympics in 2008 be any different?

With Olympics barely 11 days away and the skies over Beijing still not clear, Chinese authorities have come up with an emergency plan that would lead to 90 per cent of the private vehicles going off the roads during the Games.

Beijing Transportation Information Center (BTIC) and Nissan Motor Co., Ltd. announced today the first commercial application of the STAR WINGS project. The new Nissan Teana sedan offers a smart route-guidance navigation system as a standard feature on the 3.5L model and as an optional feature on the 2.5L model for customers in Beijing.

Olympic athletes aren't the only ones who need to be concerned about the heavily polluted air in Beijing. The dirty air may trigger serious cardiovascular problems for some spectators.

With the Olympic Games in sight, the Chinese Government is committed to improving the air quality in Beijing, and has had measures in place since 1998 which have already made a difference.

A study published by Wiley-Blackwell in the Pacific Economic Review predicts that China will win at least 14% more medals in the 2008 Beijing Olympics – in comparison to the 144 medals won in 2004 – and narrow its medal-tally gap with the USA significantly.

China has suffered its first defeat at the World Trade Organization, and Australia's low unemployment level means interest rates may be raised again. Claudia Blume has more on these and other regional business stories from VOA's Asia News Center in Hong Kong.