Rabu, 6 Mac 2013

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Ringgit opens lower against US dollar

Posted: 06 Mar 2013 06:27 PM PST

The ringgit opened lower against the US dollar in early trade today, dealers said.

The ringgit was quoted at 3.1090/1125 to a US dollar against 3.1050/1070 yesterday.

The dealers said this was in line with the strengthening of the greenback, driven by the overnight rally in US stocks and an improved outlook in the American jobs market.

The local currency was higher against the Singapore dollar at 2.4888/4920 from 2.4944/4962 yesterday, and rose against the yen at 3.3053/3105 from 3.3230/3269 previously.

It rose against the British sterling to 4.6610/6669 from 4.6895/6934 on Wednesday and was higher against the euro at 4.0358/0413 from 4.0533/0568.-- Bernama

Short-term rates to remain stable

Posted: 06 Mar 2013 06:30 PM PST

Short-term rates are expected to remain stable Wednesday, with Bank Negara Malaysia intervening to absorb excess liquidity from the financial system, dealers said.

The central bank estimated today's surplus at RM26.396 billion in the conventional system and RM6.825 billion in Islamic funds.

Bank Negara will call for four conventional tenders of RM1 billion for seven days, RM1 billion for 14 days, RM1 billion for 21 days and RM1 billion for 32 days.

It will also conduct a repo tender for RM200 million for 92 days.

The central bank will call for four Al-Wadiah tenders for RM1.4 billion for seven days, RM800 million for 14 days, RM1.4 billion for 21 days and RM1.2 billion for 28 days.

The central bank will conduct a Commodity Murabahah Programme of RM100 million for 26 days.

At 4pm, the central bank will conduct an up to RM22.3 billion conventional overnight tender and RM2.5 billion Al-Wadiah overnight tender.-- Bernama

Kredit: www.nst.com.my

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Venezuelans line streets for Chavez - CNN

Posted: 06 Mar 2013 09:12 AM PST

Supporters of the late Venezuelan President Hugo Chavez cry in Caracas, a day after his death on March 6, 2013.
Supporters of the late Venezuelan President Hugo Chavez cry in Caracas, a day after his death on March 6, 2013.
STORY HIGHLIGHTS
  • Hugo Chavez's casket is seen for the first time
  • The casket is moved in a procession from a hospital to a military academy
  • Thousands of Venezuelans were in the streets to watch the procession

Share your thoughts on Hugo Chavez.

(CNN) -- The political outcome in the wake of Venezuelan President Hugo Chavez's death remains uncertain, but in plazas across the country Wednesday, his followers made it clear they support a continuation of his policies.

Chavez put social programs at the center of his government, and his most fervent supporters credit him with providing their livelihood.

"Chavez gave us everything," one mourner said on state-run television.

Opinion: Chavez empowered the poor, divided a nation

A new election will be held within 30 days, possibly signaling a new path for the oil-rich nation.

Thousands of Venezuelans lined the streets of the capital Wednesday morning as Chavez's remains were taken from the military hospital where he died to the Fuerte Tiuna Military Academy in Caracas.

Chavez's simple wooden casket, draped in the Venezuelan flag, was held by soldiers as a priest recited a prayer and blessing on the late president. The casket was placed on top of a hearse decorated with flowers and wreaths, which slowly made its way toward the military academy.

The streets were a sea of green and red, as soldiers and red-clad supporters followed the procession.

Venezuela's interim leader thrust into spotlight

Some wept as the casket passed by, while others stretched out their arms to take pictures with their phones.

Presidents arrived in the country for the funeral, including Uruguay's Jose Mujica, Argentina's Cristina Kirchner and Bolivia's Evo Morales.

The country has declared seven days of mourning, closed schools for the rest of the week and deployed armed forces to "guarantee peace."

CNN iReport: Share your thoughts on Hugo Chavez

It was the Chavez faithful who were out in force Wednesday, but there remains a sizable and strong opposition to the ruling party.

One man said he fled Venezuela as a teenager because there was no future there under Chavez.

"I left Venezuela because my brother got kidnapped, our house got burglarized, cars stolen," Carlos Quijada said. "My parents had an import business and the currency controls made it impossible for them to import anything anymore."

Quijada says he has hope that things will improve with Chavez's absence.

"My life was completely altered because of that man. And I will not hide the fact that I am happy that he is no longer alive," he said.

Another Venezuelan, a music teacher named Juan Francisco who splits his time between his home country and Europe, says he does not rejoice at Chavez's death but has a number of reasons why he won't miss him.

Chavez was hypocritical on many key issues such as democracy and security, he wrote in a CNN iReport.

Vice President Nicolas Maduro, the interim president, has made no mention of running for election, but he is widely expected to be the United Socialist Party of Venezuela's candidate for the job.

During Chavez's absence from the political stage over the past three months, Maduro has been front and center. He has spoken at political rallies around the country and delivered updates about the president on national television, drawing growing support from Chavez loyalists.

U.S. reaction to Chavez's death: from mourning to celebration

Opposition critics said he was campaigning for office -- a claim the government denied. Even as it was announced that Maduro would temporarily assume the presidency, some questioned whether that was constitutional, since Chavez missed his inauguration and was never officially sworn in.

Opposition politicians haven't said who will represent them in the election. But as speculation mounted about Chavez's health in recent weeks, many had turned to Henrique Capriles, who lost to Chavez in October's presidential contest.

On Tuesday, Capriles called for a national dialogue including all Venezuelans, not just Chavez's supporters.

"Today there are thousands, maybe millions, of Venezuelans who are asking themselves what will happen, who feel anxiety, and including those who feel afraid," Capriles said.

CNN's Catherine E. Shoichet and Dana Ford contributed to this report.

UPDATE 2-Obama to meet with Republican senators over budget - Reuters

Posted: 06 Mar 2013 09:28 AM PST

Wed Mar 6, 2013 12:23pm EST

By Richard Cowan

(Reuters) - U.S. President Barack Obama plans to meet with several Republican senators for dinner on Wednesday as part of his effort to revive talks to tackle the nation's long-term deficit, the White House said.

The Democratic president is trying to cobble together what he calls a "common sense caucus" among lawmakers to help resolve U.S. budget woes and push his legislative agenda.

He also is scheduled to travel to Capitol Hill next week, when he will address Senate Republicans at a lunch on March 14.

Senate Republican leader Mitch McConnell said the lunch will be an opportunity to discuss budget and economic issues.

A source, who asked not to be identified, said Obama also plans to meet with House of Representatives Democrats next week, although the date has not yet been set.

Wednesday's dinner meeting, to be held at a hotel near the White House, could be postponed, the White House said, as Washington faced heavy snow forecasts that already had closed most federal agencies.

In recent days, Obama has searched for common ground with senators who in the past have indicated a willingness to compromise on budget issues. The White House on Sunday suggested talks could center around a broad budget deal that includes new tax revenues as well as reforms to entitlement programs. These include the Medicare health care program for the elderly and disabled and Social Security retirement benefits - programs that are rapidly growing in cost as the population ages.

The Republican U.S. senators Obama has contacted recently include Bob Corker of Tennessee, Tom Coburn of Oklahoma, Rob Portman of Ohio and Susan Collins of Maine, according to the senators or congressional aides. The White House declined to confirm the names.

Coburn will attend Wednesday's dinner, as will Senator John Hoeven of North Dakota, their aides said. Senator John McCain of Arizona, who ran unsuccessfully for president against Obama in 2008, also will attend, according to an aide. The New York Times said about 12 senators would attend.

At the heart of the U.S. fiscal crisis is disagreement over how to rein in the $16.7 trillion debt. Obama wants to narrow the fiscal gap with spending cuts and tax hikes. Republicans do not want to concede again on taxes after doing so in negotiations over the "fiscal cliff" at the New Year.

Last Friday marked the start of $85 billion in across-the-board budget cuts that are to be carried out by Sept. 30. It was not clear whether Obama, in his new contacts with Republican senators, was still trying to negotiate a substitute for those cuts.

Republican leaders rejected higher taxes as part of a budget deal that would have avoided the cuts contained in the so-called sequester that kicked in Friday.

Lawmakers are working short-term to avoid a government shutdown when the current U.S. federal budget expires at the end of March. Bills moving through the House and Senate will incorporate the $85 billion in lower spending.

Kredit: www.nst.com.my
 

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