Ahad, 6 Januari 2013

NST Online Business Times : latest

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Posted: 06 Jan 2013 06:16 PM PST

Short-term rates are expected to remain stable Monday as Bank Negara Malaysia intervenes to absorb excess liquidity from the financial system, dealers said.

The central bank estimated today's surplus at RM30.069 billion in the conventional system and RM8.233 billion in Islamic funds.

It will conduct four conventional tenders of RM1.5 billion for seven days, RM1 billion for 14 days, RM2 billion for 22 days and RM1.5 billion for 31 days.

It will conduct a RM500 milliom repo tender for 59 days and a RM200 million Commodity Murabahah Programme tender for 31 days.

The central bank will also offer Al-Wadiah tenders of RM500 million for seven days, as well as, RM1 billion each for 14 days and 22 days, respectively.

At 4 pm, Bank Negara will conduct a conventional overnight tender for up to RM23.7 billion and a RM5.7 billion Al-Wadiah overnight tender. -- Bernama

KL shares open mixed in early trade

Posted: 06 Jan 2013 06:15 PM PST

Share prices on Bursa Malaysia opened mixed, in early trade, as demand was yet to pick up, dealers said.

After 30 minutes of trading, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.62 of a point to 1,691.96, after opening 0.39 of a point better at 1,692.97.

HwangDBS Vickers Research said the key FBM KLCI could challenge and may overcome the psychological resistance barrier of 1,700 points later today.

"From a technical perspective, a decisive breakout from this point may subsequently propel the benchmark index to challenge its next resistance hurdle of 1,715," it said in a note.

Meanwhile, major US equity indices ended between flat and 0.5% higher last Friday amid increasing optimism from investors that the world's largest economy is firmly on the recovery track.

On the local front, stocks that could attract buying interest were DiGi.com, following a business news report that the company may be among the pioneer issuers of business trusts to be listed in Malaysia.

Others include DRB-Hicom and Warisan TC, as the same business weekly said both companies were separately looking to bring in commercial truck models from India and TH Heavy Engineering, which is reportedly preparing to bid for a risk service contract from Petronas.

On the scoreboard, the Finance Index rose 9.52 points to 15,350.88, the Industrial Index improved 0.93 of a point to 2,815.27 and the Plantation Index added 7.16 points to 8,262.35.

The FBM Emas Index gained 6.33 points to 11,492.23, the FBMT100 increased 3.55 points to 11,344.20, the FBM Mid 70 Index rose 39.27 points to 12,478.87 and the FBM Ace Index was 6.14 points higher at 4,265.91.

Gainers led losers 200 to 90 with 182 counters unchanged, 1,157
untraded and 30 others were suspended. Volume was thin at 146.52 million shares worth RM78.69 million.

Among actives, Permaju Industries earned two sen to 51 sen, Nextnation Communication was flat at 11.5 sen and Sino Hua-An International rose one sen to 16 sen.

Heavyweights, Maybank was unchanged at RM9.06 while Sime Darby lost three sen to RM9.68 and Axiata eased five sen to RM6.69. -- Bernama

Kredit: www.nst.com.my

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Assad Vows to Fight On, Rejects Peace Efforts - Wall Street Journal

Posted: 06 Jan 2013 07:38 AM PST

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McConnell: Democrats still have "voracious appetite for more taxes" - CBS News

Posted: 06 Jan 2013 08:35 AM PST

(CBS News) The debate over taxes on Capitol Hill "is over," Senate Minority Leader Mitch McConnell, R-Ky., insisted today on "Face the Nation," adding that House Minority Leader Nancy Pelosi's, D-Calif., suggestion otherwise "underscores the voracious appetite for more taxes on the other side."

With a deal reached on the first of the year to avert the so-called "fiscal cliff," extending the Bush-era tax cuts for individuals earning less than $400,000 a year and couples making less than $450,000 a year, McConnell said, "the tax issue is over. We resolved that a few days ago."

Pelosi, who appeared on the program immediately before McConnell, argued the "cliff" package did not offer enough in terms of revenue, but implied that closing loopholes and deductions in the tax code was a more likely course going forward. Though McConnell agreed tax reform is "a good idea," he added, "now that we have resolved the revenue issue, tax reform ought to be revenue-neutral."

"Now it's time to pivot to the single biggest threat to our country, both in the short-term and the long-term... and that's reducing spending," McConnell said. "We now have a debt of $16.4 trillion. That's as big as our economy. That alone makes us look a lot like Greece. We have an incredible spending addiction. This administration has driven spending as a percentage of our economy from 21 percent up to almost 25 percent."

Asked if he agrees with Sen. John Cornyn, R-Texas, who in a Houston Chronicle op-ed Saturday said the GOP should be prepared to shut down parts of the government if they can't get to where they want to be on spending cuts in the coming negotiations over raising the debt ceiling, McConnell said "it shouldn't require doing any of these things," but indicated that if it comes to that, President Obama is to blame.

"We have a few opportunities here in the next few months presented to us by his request to raise the debt ceiling, by the sequester kicking in two months from now, by the continuing resolution to operate the government - plenty of opportunities to generate that discussion," he said. "But what's really disappointing to me is that the president isn't generating that discussion on his own; that he has to sort of be dragged kicking and screaming to the table when we have these other big issues like the debt ceiling to get him to talk about it. I wish he'd lead."

McConnell wouldn't go as far as to commit to the level of cuts being pushed by House Speaker John Boehner, R-Ohio - one dollar in spending reductions for every one dollar the debt ceiling is raised - but indicated such a demand could be used as "leverage" by Republicans.

"If the president won't lead us here, in the direction of reducing this massive spending addiction that we have," McConnell said, "then we have to use whatever leverage we have. And there are some examples of leverage coming along - the debt ceiling is one of them. That hopefully would get the president engaged, even though he seems unwilling to do it on his own."

As for other top-priority legislation, such as a review of gun laws and treatment for the mentally ill - issues Mr. Obama assured Americans after the tragedy in Newtown, Conn., would be handled immediately following his inauguration later this month - McConnell said it may fall to the backburner amid the continuing budget debates.

"Clearly we will not be addressing that issue early, because spending and debt are going to dominate the first three months," McConnell said. But when Vice President Joe Biden, appointed to lead a task force on the subject, does offers proposals, "I'm sure the House and Senate will take a look at them."

Kredit: www.nst.com.my

Ahad, 6 Januari 2013