Rabu, 21 November 2012

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Kenanga cuts KL Kepong to 'underperform'

Posted: 21 Nov 2012 06:08 PM PST

Kenanga Research has cut its rating for Malaysian palm oil plantation company Kuala Lumpur Kepong Bhd (KLK) to "underperform" from "market perform" after reducing its forecast for crude palm oil (CPO) prices.

The brokerage reduced its CPO price forecast for next year by 5 percent to RM2,850 per metric tonne, consequently reducing its forecast net profit for KLK by 10 percent, in a report issued on Thursday.

Kenanga slashed its target price for KLK to RM20 from RM22.3 previously. Shares of KLK were up 0.1 percent at RM20.58 as of 9.49 am. -- Reuters

Kenanga cuts KLK to ’underperform’

Posted: 21 Nov 2012 06:49 PM PST

Kenanga Research has cut its rating for Malaysian palm oil plantation company Kuala Lumpur Kepong Bhd (KLK) to 'underperform' from 'market perform' after reducing its forecast for crude palm oil (CPO) prices.

The brokerage reduced its CPO price forecast for next year by 5 percent to 2,850 ringgit per metric tonne, consequently reducing its forecast net profit for KLK by 10 percent, in a report issued on Thursday.

Kenanga slashed its target price for KLK to RM20 from RM22.3 previously.

Shares of KLK were up 0.1 per cent at RM20.58 as of 9.49 am (0149 GMT).- Reuters

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Bus bombing in Tel Aviv deflates Israeli interest in cease-fire with Gaza (+video) - Christian Science Monitor

Posted: 21 Nov 2012 09:18 AM PST

International mediators, including Secretary of State Hillary Clinton, are working intensively to secure a cease-fire between Israel and Gaza, but today's bombing has dimmed Israelis' interest in negotiations.

By Correspondent / November 21, 2012

Israeli police officers examine a blown up bus at the site of a bombing in Tel Aviv, Israel, Wednesday. A bomb ripped through an Israeli bus near the nation's military headquarters in Tel Aviv on Wednesday, wounding at several people, Israeli officials said.

Oded Balility/AP

Enlarge

UPDATE 12:40 p.m. A cease-fire is set to begin at 2 p.m. E.T ( 9 p.m. local time) between Israel and Hamas, according to US Secretary of State Hillary Clinton and Egypt's Foreign Minister Mohammed Kamel Amr.

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A bomb explosion rocked a commuter bus in downtown Tel Aviv this morning, injuring about two dozen people as militants tried to widen attacks on Israel. The bombing is likely to dim international mediators' efforts to finalize a cease-fire between Israel and Hamas after a week of fighting.

The explosion was the first bombing in Israel's economic and cultural capital in six years. It comes after a week that saw rockets fired from the Gaza Strip reach the area around Tel Aviv for the first time. Those caused no casualties in the city because they either were intercepted by Israel's Iron Dome Rocket system, or fell in open areas.   

Hamas had vowed to open a bombing campaign against Israel in retaliation for the offensive that started Nov. 14 with the killing of its top military chief. But it was initially unclear exactly who is responsible for the bombing. Preliminary reports indicated that one or several bombers threw an explosive on the bus and fled the scene, prompting Israeli police to begin a manhunt in response. 

The bombing blew out the windows of the public bus just outside the walls of the office complex housing Israel's military main command, tipping the national mood away from an anticipated cease-fire deal and in favor of continuing an offensive against Hamas and other militant groups in Gaza.

"I was passing by the bus station when, all of a sudden, I heard a boom. Then I saw smoke and thought, 'It's definitely an attack'," says Golan Tuviya, a passerby who was just a few feet away from the explosion. "Then I just fled."

Politicians from the coalition of Prime Minister Benjamin Netanyahu called on the Israeli leader to abandon truce efforts and redouble efforts to hit Palestinian targets to stop a rain of hundreds of rockets into Israeli cities.  

"There won't be a cease-fire. You don't understand," says Riva Rothberg, an onlooker who came to the scene of the bombing. "It's an issue of blood vengeance. They hit us and we hit them."

Despite that sentiment, Israel Radio reported that cease-fire talks were continuing. The explosion came as US Secretary of State Hillary Clinton held meetings in Cairo to bolster the cease-fire efforts. Last night, amid elevated hopes for an announcement, she met with Israeli Prime Minister Benjamin Netanyahu. She also met with Palestinian Authority President Mahmoud Abbas this morning.

Though it is extremely unlikely that the perpetrators came from Gaza, which is walled off by a military blockade, analysts said it was possible that the order was issued by militants in the coastal strip and carried out by colleagues in the West Bank.

The attack would ostensibly boost claims by Palestinian militants that they ended the week of violence with the upper hand. Although Israeli and Palestinian security forces have nearly eliminated the capabilities of militants in the West Bank in recent years, "residual capability" still exists, says Gerald Steinberg, a political science professor at Bar Ilan University.

"The working assumption has to be this is from Hamas" or other allied militant groups, he says.

"This was clearly ad hoc – someone throwing a bomb into largely empty bus. It has none of the hallmarks of the bombing campaign of 2002 and 2003, but the timing is most likely part of the Hamas campaign."

Cobbler and Gobbler get their White House moment - CNN (blog)

Posted: 21 Nov 2012 09:05 AM PST

(CNN) – President Barack Obama will take on the annual tradition of pardoning the National Thanksgiving Turkey on Wednesday.

This year the choice is between Cobbler and Gobbler, two 19-week-old, 40 pound birds. Elementary school students in Rockingham County, Virginia–the native area of the turkeys–chose the names.

– Follow the Ticker on Twitter: @PoliticalTicker

One of the turkeys will be recognized as the National Thanksgiving Turkey, chosen for the first time by the American public through an online contest. The president traditionally pardons both turkeys, one serving as an alternate who will take the national turkey's place if he is "unable to perform" his duties during the presentation (whatever that means).

READ MORE: Pardoned Turkey from 2011 has died

Following the pardoning, the turkeys will be taken to George Washington's Mount Vernon Estate and Gardens, where the winning turkey will be on display for visitors during "Christmas at Mount Vernon." They'll stay on the property after the holidays.

The birds grew up on a farm near Harrisonburg, Virginia under National Turkey Federation Chairman Steve Willardsen's supervision.

This year marks the 65th anniversary of the turkey presentation.

– CNN's Ashley Killough contributed to this report.

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Selasa, 20 November 2012

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Nomura cuts QL Resources target price

Posted: 20 Nov 2012 07:08 PM PST

Nomura Equity Research cut agricultural producer QL Resources Bhd's target price to RM3.80 per share from RM4.00 after earnings in the first half of 2013 financial year came in weaker than expected.

QL's net income of RM68 million, which grew 4 percent year-on-year, missed estimates due to weak crude palm oil prices and a supply glut in eggs after the holiday season, Nomura said in a note on Wednesday.

However, Nomura expected earnings to improve for the rest of 2013 and 2014 due to rising food and commodities prices.

"We remain bullish on the outlook for the rest of FY2013-2014, given the egg production margin is back to normal after capacity rationalisation by players, and we anticipate crude palm oil prices to move up next year." -- Reuters

Affin downgrades MMHE to 'sell'

Posted: 20 Nov 2012 07:10 PM PST

Affin Investment Bank cut its rating on Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) to "sell" from "reduce" after the company reported lower net earnings for the third quarter.

Net profit dropped to RM8.1 million in the quarter ended Sept. 30 from RM55.3 million in the preceding quarter due to a RM50 million provision for a project and losses of RM17.5 million in its jointly controlled units, said Affin.

"The disappointing results validate our long-held concern for the company's highly demanding valuations," said Affin in a report on Wednesday.

The brokerage cut its target price on MMHE to RM4.02 from RM4.60. -- Reuters

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Hamas says Gaza truce agreed, Israel says no deal yet - Reuters

Posted: 20 Nov 2012 09:08 AM PST

Egyptian President Mohamed Mursi (R) meets with Hamas' leader in exile, Khaled Meshaal (2nd R) and the Hamas delegation at the Presidential Palace in Cairo November 18, 2012. REUTERS/Egyptian Presidency/Handout

GAZA/JERUSALEM | Tue Nov 20, 2012 12:36pm EST

(Reuters) - A Hamas official said on Tuesday Egypt had brokered a Gaza ceasefire deal that would go into effect within hours, but a spokesman for Israeli Prime Minister Benjamin Netanyahu said "we're not there yet".

"An agreement for calm has been reached. It will be declared at 9 o'clock (1900 GMT) and go into effect at midnight (2200 GMT)," Hamas official Ayman Taha told Reuters from Cairo, where intensive efforts have been under way to end seven days of fighting.

Netanyahu spokesman Mark Regev told Reuters the announcement was premature and Israeli military operations in Gaza, territory run by Hamas Islamists, would continue in parallel with diplomacy.

"We're not there yet," Regev said on CNN. "The ball's still in play."

U.S. Secretary of State Hillary Clinton was heading to the region from Asia and was expected in Jerusalem late on Tuesday to meet Netanyahu.

Both Israel and the United States have said they preferred a diplomatic solution to the Gaza crisis to a possible Israeli ground operation in the densely-populated enclave of 1.7 million Palestinians.

"No country would tolerate rocket attacks against its cities and against its civilians. Israel cannot tolerate such attacks," Netanyahu said with U.N. Secretary-General Ban Ki-moon, who arrived in Jerusalem from talks in Cairo, at his side.

"If a long-term solution can be put in place through diplomatic means, then Israel would be a willing partner to such a solution," he said.

"But if stronger military action proves necessary to stop the constant barrage of rockets, Israel will do what is necessary to defend our people," said Netanyahu, who is favored to win a January general election.

Hamas leader Khaled Meshaal said on Monday that Israel must halt its military action in the Gaza Strip and lift the blockade of the Palestinian territory in exchange for a truce.

Hours before the Hamas official said an agreement had been clinched, Egypt's state media quoted Egyptian President Mohamed Mursi as saying "that the farce of Israeli aggression against the Gaza Strip will end on Tuesday"

Mursi said, according to the reports, that "efforts to conclude a truce between the Palestinian and Israeli sides will produce positive results in the next few hours".

Israel pressed on with air strikes and Palestinian rockets flashed across the border on Tuesday.

Israel's military on Tuesday targeted about 100 sites in Gaza, including ammunition stores and the Gaza headquarters of the National Islamic Bank. Gaza's Hamas-run Health Ministry said six Palestinians were killed.

Israeli police said more than 150 rockets were fired from Gaza by late afternoon, many of them intercepted by Israel's Iron Dome system. Ten people were wounded in Israel, the military and an ambulance service said.

Medical officials in Gaza said 126 Palestinians have died in a week of fighting, the majority of them civilians, including 27 children.

Three Israelis died last week when a rocket from Gaza struck their house.

HAMAS TARGETS JERUSALEM

In an attack claimed in Gaza by Hamas's armed wing, a longer-range rocket targeted Jerusalem on Tuesday for the second time since Israel launched the air offensive with the declared aim of deterring Palestinian militants from launching rocket salvoes that have plagued its south for years.

The rocket, which fell harmlessly in the occupied West Bank, triggered warning sirens in the holy city about the time Ban arrived in Jerusalem for truce discussions.

In the Gaza Strip on Tuesday, Hamas executed six alleged collaborators, whom a security source quoted by the Hamas Aqsa radio said "were caught red-handed" with "filming equipment to take footage of positions". The radio said they were shot.

A delegation of nine Arab ministers, led by the Egyptian foreign minister, visited Gaza in a further signal of heightened Arab solidarity with the Palestinians.

Fortified by the ascendancy of fellow Islamists in Egypt and elsewhere, and courted by Sunni Arab leaders in the Gulf keen to draw the Palestinian group away from old ties to Shi'ite Iran, Hamas has tested its room for maneuver, as well as longer-range rockets that have also reached the Tel Aviv metropolis.

Egypt, Gaza's other neighbor and the biggest Arab nation, has been a key player in efforts to end the most serious fighting between Israel and Palestinian militants since a three-week Israeli invasion of the enclave in the winter of 2008-9.

The ousting of U.S. ally Hosni Mubarak in Egypt and the election of Mursi is part of a dramatic reshaping of the Middle East wrought by Arab uprisings and now affecting the Israeli-Palestinian conflict.

Mursi, whose Muslim Brotherhood was mentor to the founders of Hamas, on Monday took a call from Obama, who told him Hamas must stop rocket fire into Israel - effectively endorsing Israel's stated aim in launching the offensive last week. Obama also said he regretted civilian deaths - which have been predominantly among the Palestinians.

Mursi has warned Netanyahu of serious consequences from an invasion of the kind that killed more than 1,400 people in Gaza four years ago. But he has been careful not to alienate Israel, with whom Egypt's former military rulers signed a peace treaty in 1979, or Washington, a major aid donor to Egypt.

Addressing troops training in southern Israel, Defence Minister Ehud Barak said: "Hamas will not disappear but the memory of this experience will remain with it for a very long time and this is what will restore deterrence."

But he said: "Quiet has not yet been achieved and so we are continuing (the offensive) ... there are also diplomatic contacts -- ignore that, you are here so that if the order for action must be given - you will act."

Fighting Israel, whose right to exist Hamas refuses to recognize, is popular with many Palestinians and has kept the movement competitive with the secular Fatah movement of Palestinian President Mahmoud Abbas, who remains in the West Bank after losing Gaza to his Islamist rival in a civil war five years ago.

"Hamas and the others, they're our sons and our brothers, we're fingers on the same hand," said 55-year-old Faraj al-Sawafir, whose home was blasted by Israeli forces. "They fight for us and are martyred, they take losses and we sacrifice too."

Along Israel's sandy, fenced-off border with the Gaza Strip, tanks, artillery and infantry massed in field encampments awaiting any orders to go in. Some 45,000 reserve troops have been called up since the offensive was launched.

Israel's shekel rose on Tuesday for a second straight session while Tel Aviv shares gained for a third day in a row on what dealers attributed to investor expectations that a ceasefire deal was imminent.

(Additional reporting by Marwa Awad in Cairo, Writing by Jeffrey Heller; Editing by Giles Elgood)

Gillard: Leaders to Push for US-Led Trade Pact - Wall Street Journal

Posted: 20 Nov 2012 08:41 AM PST

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Isnin, 19 November 2012

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Lynas expects Pahang plant output from Dec

Posted: 19 Nov 2012 05:19 PM PST

MELBOURNE: Rare earths miner Lynas says that it has been a testing year for the company, but expects production at its plant in Gebeng, Pahang to begin in December after long delays caused by environmental and political concerns.

Lynas executive chairman Nicholas Curtis told the company's annual general meeting in Sydney on Tuesday that it had been a year "when the noise around the company has reached an amplitude that is, quite frankly, not sustainable and very negative for us all."

"But I have to say that short-term share market performance is not our main focus as management of Lynas.

"One to two tough years to bring the business to life need to be put in the context of the long-term vision we are realising.

"By the second half of calendar 2013, we expect to be moving towards full production capacity and have a business that has the potential to deliver sustainable and predictable earnings," Curtis is quoted by the Australian Associated Press as saying.

Production revenue is set to flow from the first quarter of calendar 2013, Curtis said.

After reaching unsustainable highs, prices for rare earths have now fallen and growth in demand is expected to resume, possibly as soon as the second half of 2013, he said.

After a drawn-out approval process and several legal challenges from locals and activists, Lynas' advanced materials plant in Gebeng currently has a temporary operating licence.

However, opponents, arguing the mine will pollute nearby land, are still seeking an interim stay on the licence and have appealed to the Malaysian High Court.

The delays to first production have also forced Lynas to raise A$200 million by issuing new shares recently.

Lynas' share price has suffered, recently hitting an all-time low of A55 cents, down from A$1.165 a year ago. -- BERNAMA

KL shares open higher on renewed interest

Posted: 19 Nov 2012 06:01 PM PST

Share prices on Bursa Malaysia were higher in early trade on Tuesday on renewed buying interest, boosted by positive
developments in the US economy, dealers said.

At 9.24 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.53 points better at 1,627.84, after opening 3.13 points higher at 1,626.44.

HwangDBS Vickers Research said the bullish sentiment seen in Wall Street would likely pave the way for the FBM KLCI to bounce up today.

"Wall Street jumped overnight, buoyed by better housing data and optimism that a budget agreement would be reached between the US President and Congress to resolve the fiscal cliff issue," it said in a research statement today.


The research house said the benchmark FBM KLCI may see a recovery towards the immediate resistance level of 1,635.

"Hoping to ride on the positive market sentiment today are stocks like Dialog, after its joint venture with Halliburton won a US$1.2 billion oilfield services contract in Sarawak with a term of 24 years," it added.

It said Dayang Enterprise would also be one of the stocks that may add interest today as the company's latest quarterly delivered upside earnings surprises.

On the scoreboard, the Finance Index rose 20.65 points to 15,017.97, the Industrial Index added 9.49 points to 2,793.41 and the Plantation Index rose 24.64 points to 7,993.44.

The FBM Emas Index increased 33.98 points to 11,126.18, the FBM Ace Index lost 6.7 points to 4,240.98, the FBMT100 gained 33.49 points to 10,961.60 and the FBM Mid 70 Index increased 51.69 points to 12,286.53.

Gainers led losers by 150 to 58, with 166 counters unchanged, 1,274 untraded and 18 others suspended.

Volume stood at 121.87 million shares worth RM100.97 million.

Among actives, KNM Group-WA rose 9.5 sen to 10 sen, Karambunai lost half-a-sen to 16 sen and KNM Group fell two sen to 47.5 sen.

Of the heavyweights, Maybank was flat at RM9.03, while Sime Darby lost one sen to RM9.52 and CIMB added four sen to RM7.67 Bernama

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No slowdown in Gaza-Israel hostilities; Egyptian official optimistic on cease-fire - CNN

Posted: 19 Nov 2012 09:16 AM PST

STORY HIGHLIGHTS
  • NEW: Palestinians don't want ground war, "but we are not afraid of it," Hamas leader says
  • NEW: Israel military says Gaza City strike targeted four senior Islamic Jihad officials
  • The death toll in Gaza rises to 97, Palestinian officials say
  • Hamas gives Israel conditions for a cease-fire, an Egyptian general says

Are you there? Share your story with CNN iReport, but please stay safe. Read more on CNNArabic.

Gaza City (CNN) -- Warplanes, drones and rockets criss-crossed the sky over Gaza for the sixth day Monday as Israel pressed its air offensive against Gaza militants. Hamas leader Khaled Meshaal vowed continued resistance against what he called a "criminal enemy."

"We do not want escalation nor do we call for a ground war," he told reporters at a news conference. "But we are not afraid of it nor will we back down."

In Israel, air raid sirens wailed throughout the day and troops shepherded residents into bomb shelters as rockets arced overhead. In Gaza City, rockets streaked away toward Israel as smoke and fire poured from buildings struck by Israeli warplanes or drones. Most businesses were closed, the streets largely empty.

At least two people died Monday afternoon in a strike on a Gaza City office building used by some media outlets, according to Palestinian sources. Ramez Harb, information leader of the military media office of Palestinian Islamic Jihad, died in the attack, the sources said. Among the wounded were two children, the sources said.

The IDF said the strike targeted four senior Islamic Jihad members who it said were hiding in the building, including the information chief.

The military described the others as key figures in military training, attack planning, long-range rocket operations and arms manufacturing within the organization.

Israeli forces, who targeted the same building on Sunday, said on Twitter that the officials were using reporters as human shields.

"We targeted only the 2nd floor, which is where the senior terrorists were," the IDF said on Twitter. "The rest of the building was unharmed. Direct hit confirmed."

Palestinian health officials said 97 people have died and 750 have been wounded in Gaza since Israel's offensive -- sparked by months of what Israel characterized as incessant rocket attacks by militants -- began six days ago. Israeli officials say three people have died and 68 have been wounded in Israel as the result of rocket fire from Gaza.

Despite the violence, a general in Egyptian intelligence involved in talks to broker a cease-fire expressed optimism Monday that a deal to stop hostilities could be reached.

The general told CNN that Hamas gave Israel its conditions for a cease-fire through an intermediary, intelligence chief Mohamed Shehata.

"We are optimistic about the negotiations so far," the general said.

No details of the conditions were immediately available, nor was there any immediate confirmation of the letter from Israel.

Earlier, senior Palestinian negotiator Nabil Shaath said Hamas is demanding that Israel stop the airstrikes and end its long blockade of Gaza.

Hamas wants Israel to stop targeting the leadership of Palestinian factions and to expand the waters Palestinian fishermen are allowed to trawl from three miles offshore to 30, said Shaath, who is also a Fatah leader.

"The attempt is to reach a real stable situation. That's why they are asking for commitment on Israeli typical aggression and periodic incursions and constant shooting and firing at the fishermen in the sea," he said.

The territory has been under a crippling economic embargo since Hamas won control of the territory from the Fatah-led Palestinian Authority, which controls the West Bank.

Hamas, a militant fundamentalist Islamic organization, took political control of the Palestinian territory in 2007 after a landslide election. The United States, Israel and the European Union say it is a terrorist group.

Israel, meanwhile, has demanded an end to the rocket attacks.

In a news conference Monday afternoon, Meshaal sounded defiant, saying the morale of Hamas fighters is high and warning Israeli Prime Minister Benjamin Netanyahu that escalating the conflict with a ground invasion would "not be a picnic."

"The goals of the enemy have failed," said Meshaal, who added that he plans to visit Gaza soon.

An Israeli soldier from a tank squadron attends a morning briefing at an Israeli army deployment area near the Israel-Gaza Strip border on Monday, November 19. Militants in Gaza have fired at least 1,000 rockets at Israel, officials say.An Israeli soldier from a tank squadron attends a morning briefing at an Israeli army deployment area near the Israel-Gaza Strip border on Monday, November 19. Militants in Gaza have fired at least 1,000 rockets at Israel, officials say.
Violence flares between Palestinians, Israelis
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Mounting international pressure is on Israel and Hamas to end the hostilities, including U.N. Secretary-General Ban Ki-moon flying to the region to personally appeal for a cease-fire.

In addition to the special Israeli delegation that traveled to Egypt on Monday, a steady stream of Arab League, U.N. and European diplomats were arriving in the region to promote a cease-fire.

Arab League Secretary-General Nabil el-Araby and 16 foreign ministers from the league's member states were to arrive in Gaza on Tuesday for talks, a spokesman for the organization said. Turkish Foreign Minister Ahmet Davutoglu is expected to join the delegation, a ministry spokesman said Monday.

Palestinian Authority President Mahmoud Abbas, meanwhile, will hold talks in the West Bank with the U.N. secretary-general during his visit to the region, said Saeb Erakat, a member of the PLO's executive committee and an Abbas ally.

"This must stop," Ban said late Sunday. He called on both sides to cooperate with Egyptian-led effort to broker a cease-fire.

"I am heading to the region to appeal personally for ending the violence and contribute to ongoing efforts to that end," he said.

Ban joins a growing chorus of Western and Arab diplomats calling for end to the crisis that has raised fears of a repeat of Israel's 2008 invasion of Gaza following a similar spate of rocket attacks. At least 1,400 people were killed in that conflict.

U.S. fears escalation to ground invasion

Ban's call for a truce came on the heels of the single deadliest attack -- an Israeli airstrike that left a family of 10 dead within the building's broken concrete and mangled metal.

Neighbors and family members used a ditch digger, shovels and their hands to dig through the debris of a two-story house blown apart by the Israeli airstrike.

A ditch digger was used to lift a giant slab of concrete. Underneath, the bodies of two small children were discovered.

Nearby, men dug through concrete blocks to find a missing woman.

"She's my uncle's wife," a young man shouted as he tried to get to a debris pile where the woman was believed buried. "She lived here."

A short time later, the body of the elderly woman was uncovered.

On Twitter, the al Qassam Brigades -- Hamas' military arm -- called it a "massacre committed by Israeli occupation."

Iron Dome is a game-changer, Israelis say

The Israeli airstrike targeted Yehya Bayaa, "a senior Hamas member," said Lt. Col. Avital Leibovich, the Israel Defense Forces' chief spokeswoman. The IDF alleges Bayaa is one of the leaders of a Hamas rocket-launching unit.

"When I say a senior Hamas member, I mean members that have Israeli blood on their hands -- members of Hamas that planned either the abduction of soldiers or are very much involved in targeting Israelis," Leibovich said.

The house was Bayaa's home and suspected command center, according to Leibovitch. She said the Israeli military was examining video of the strike to look for signs of secondary explosions, an indication that there were explosives inside. Initially, the IDF reported it killed Bayaa in the attack. But late Sunday, Leibovich said she did not know for sure whether Bayaa had been killed.

Rockets flew overhead as mourners gathered Monday at the al-Isra mosque for the funeral of some of the family members killed, CNN's Ben Wedeman reported. A short time later, the sound of the firing of more rockets could be heard.

Hundreds turned out for the funeral, where some chanted, "revenge, revenge."

FAQ: What is Hamas?

Also on Monday, militants fired six rockets toward Eshkol in southern Israel, with one hitting a school that has been shuttered since the conflict began, the IDF said. Several more rockets fired at Ashkelon -- which has been repeatedly targeted by militants in recent days -- were intercepted by Israel's missile defense system, it said.

Airstrikes Monday in Gaza targeted a stadium where the IDF alleges Hamas militants were launching rockets.

Overnight, a fairly intense air campaign was carried out with a number of airstrikes targeting primarily government buildings.

GPS: What does this all mean?

Militants in Gaza had fired nearly 1,000 rockets at Israel since the conflict began, the IDF reported. Roughly 570 rockets have struck Israel and another 307 have been intercepted by Israel's "Iron Dome" defense system, the IDF said. The rest have landed inside the Palestinian territory, the IDF said.

Israel, meanwhile, carried out 80 strikes on Monday, raising to more than 1,300 the number of sites targeted since it began its bombing campaign on Wednesday, according to the IDF.

The IDF has struck government buildings, police stations and the homes of Hamas officials as well as rocket-launching sites and suspected storage facilities.

"We are exacting a heavy price from Hamas and the (other) terrorist organizations, and IDF is prepared for a significant expansion of its operations," Israeli Prime Minister Benjamin Netanyahu told reporters Sunday.

The Israeli government also has called up 75,000 reservists and massed tens of thousands of troops and tanks near the border of the border of the Palestinian territory.

Opinion: Hamas can't be ignored

The fighting has put new strains on Israel's relationship with Egypt, which is attempting to broker a cease-fire. The Muslim Brotherhood-led government that took power in June has pledged to maintain Egypt's peace treaty with Israel -- the cornerstone of what peace has been achieved in the turbulent region -- but sympathy for the Palestinians runs deep among Egyptians.

The United States and several European countries have put the brunt of the blame for the current crisis on Hamas, saying Israel has a right to self-defense, while Arab and Muslim nations have accused Israel of being the aggressor.

Catherine Ashton, the EU's foreign policy chief, repeated on Monday her previous calls for a long-term solution in Gaza.

"I'm very concerned about the loss of life, but I've also been saying consistently for a long time that we need to find a long-term solution to Gaza," she said. "I've been there three times and we have to find a way to prevent the kind of violent rocket attacks that we've seen, and also to bring some security and peace to the people of that region."

CNN's Sara Sidner and Arwa Damon reported from Gaza City; CNN's Chelsea J. Carter reported from Atlanta; CNN's Ben Wedeman, Fred Pleitgen, Amir Ahmed, Jessica Yellin and Mohamed Fadel Fahmy contributed to this report.

Obama lauds Aung San Suu Kyi, gives a nod to Myanmar - CNN

Posted: 19 Nov 2012 09:05 AM PST

STORY HIGHLIGHTS
  • NEW: President Obama has a "tense" meeting with Cambodia's leader
  • Obama meets with pro-democracy icon Aung San Suu Kyi and Myanmar's president
  • Obama is the first sitting U.S. president to visit Myanmar, also known as Burma
  • U.S. president encourages the country to continue a "remarkable journey"

Phnom Penh, Cambodia (CNN) -- Barack Obama became the first sitting U.S. president to visit Myanmar on Monday, praising the courage of fellow Nobel Peace Prize winner Aung San Suu Kyi while also providing a symbolic nod to initial reforms in a nation once notorious for political repression.

Later Monday, Obama held what an aide called a "tense"meeting with Cambodia's prime minister that emphasized the need for improving human rights in the nation hosting a summit of regional leaders.

The president's trip, his first since winning re-election, overshadowed the focus his administration will place on Asia in a second term as part of a strategy to blunt Chinese influence in the region.

Monday's highlight was the several hours Obama spent in Myanmar, the formerly secretive country also known as Burma.

The president met with Suu Kyi at the lakeside villa where she spent years under house arrest for her pro-democracy activism. Obama called the meeting a new chapter between the two countries.

"Here, through so many difficult years, is where she has displayed such unbreakable courage and determination," Obama told reporters, standing next to Suu Kyi. "It is here where she showed that human freedom and human dignity cannot be denied."

Myanmar was politically and economically isolated from the rest of the world for decades until it ended military rule last year.

In a diplomatic show of support, Obama referred to the country by the government's preferred name -- Myanmar -- rather than the colonial name of Burma used by Suu Kyi and democracy activists.

Suu Kyi warned that Myanmar's reform process would be difficult.

"The most difficult time in any transition is when we think success is in sight, then we have to be very careful that we are not lured by a mirage of success, and that we are working toward its genuine success for our people and friendship between our two countries," she said.

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Before meeting Suu Kyi, Obama spent an hour with Myanmar President Thein Sein, whose reform drive has seen the release of hundreds of political prisoners and steps to open the country's economy.

The democratic and economic reforms started by the president could lead to "incredible development opportunities," Obama said.

Thein Sein, who wore a long purple sarong and white shirt, told Obama he was committed to strengthening bilateral relations.

The name Myanmar was introduced by the former military regime 23 years ago and is preferred by the country's current leaders. But until Monday, the Obama administration had largely stuck to the British colonial name of Burma.

As well as meeting Thein Sein and Suu Kyi, Obama delivered a speech at the University of Yangon in which he urged the country to continue its "remarkable journey."

"The flickers of progress that we have seen must not be extinguished," Obama said. "Reforms launched from the top of society must meet the aspirations of citizens who form its foundation."

After leaving Myanmar, Obama traveled to Cambodia for a summit of the Association of Southeast Asian Nations that began with a first round of talks and a dinner on Monday night.

The president also discussed human rights issues in the host country with Prime Minister Hun Sen, highlighting the case of a Cambodian radio broadcaster sentenced to prison for something he said on air about land seizures, according to Deputy National Security Adviser Ben Rhodes.

Rhodes described the meeting as "tense," in keeping with past U.S. efforts to raise human rights issues with Cambodia.

Hun Sen offered no promises, but expressed a desire for closer economic ties with the United States, Rhodes said.

In essence, Rhodes said, Obama was delivering a similar message in both Cambodia and Myanmar.

The president's visit to Myanmar created "Obama fever" in Yangon, with crowds waving U.S. flags lining the street from the airport to greet the U.S. president. His meeting with Thein Sein took place in the nation's largest city, rather than the isolated capital.

Obama's image also featured on T-shirts and mugs for sale in city stores.

Before his trip, Obama insisted the visit was "not an endorsement of the Burmese government."

"This is an acknowledgment that there is a process under way inside that country that even a year and a half, two years ago, nobody foresaw," Obama told reporters in Thailand on Sunday, the first stop on his Asia trip. He added that the country was moving "in a better direction."

Western governments have responded to Myanmar's progressive efforts by easing sanctions that targeted the military regime. On Friday, the U.S. eased restrictions on imports of most goods from Burma.

But the country has also witnessed bouts of turmoil in recent months. Violence between Rohingya Muslims and local Buddhists broke out in the western state of Rakhine.

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During the latest eruption of tensions, the United Nations said at least 89 people were killed over two weeks of violence and 110,000 were displaced.

Obama urged Myanmar to use its "diversity as a strength, not a weakness."

"I believe deeply that this country can transcend its differences, and that every human being within these borders is a part of your nation's story."

He met briefly with representatives of civil society organizations, including an advocate for Burma's Rohingya population.

However, some aid organizations questioned whether now is the right time for Obama to add legitimacy to Thein Sein's government.

Burmese exile leaders and human rights advocates have expressed concerns that the visit is too soon, and may not yield the additional reforms that a presidential visit can deliver if it happens at the right time.

Journalist Katie Hunt and CNN's Tom Cohen, Josh Levs, Holly Yan, Gabriella Schwarz, Paula Hancocks and Dan Rivers contributed to this report.

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