Selasa, 12 Mac 2013

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Business Times : latesthttp://www.btimes.com.my enWednesday, March 13, 2013, 01.42 PMMIDF raises semiconductor to 'positive'http://www.btimes.com.my/articles/20130313112157/Article/ http://www.btimes.com.my/articles/20130313112157/Article/Wed, 13 Mar 2013 11:21:57 +0800MIDF Research upgraded Malaysia's semiconductor and technology sector to 'positive' from 'neutral', citing robust demand from smartphone makers, which will be the key driver for growth in 2013. "There will also be other sectors of growth such as optoelectronics," the research house said in a note today. "Malaysia's recent export numbers for the electrical and electronic sector suggests that the semiconductor sector is on the mend," MIDF added. The research house has 'buy' calls on Unisem (M) Bhd with a target price of RM1.25 per share and Globetronics Technology Bhd with a target price of RM1.96 per share. "We continue to like Globetronics for its resilience and the fact that it has exposure in high growth subsectors such as optoelectronics and sensors," it said. For semiconductor company Unisem, MIDF said it was expecting an earnings recovery in 2013. As of 10.03am, shares of Globetronics were down 4.95 per cent at RM1.73 per share and Unisem shares were 0.55 per cent lower at 90 sen a share. The technology index declined 0.84 per cent.-- Reuters China imports RM62m local F&B in 2012http://www.btimes.com.my/articles/20130313110932/Article/ http://www.btimes.com.my/articles/20130313110932/Article/Wed, 13 Mar 2013 11:09:32 +0800China imported food and beverages (FandB) worth RM62.38 million last year as a result of the Malaysia External Trade Development Corporation (Matrade)-Parkson Beijing collaboration. Matrade said this accounted for 20 per cent increase against 2011. "Currently, about 360 Stock Keeping Units (SKUs) Malaysia's FandB products are sold in Beijing Parkson's supermarkets, supplied by 19 suppliers, comprising mostly local Chinese importers and distributors. "Many Malaysian FandB brands are now available in Beijing as a result of this collaboration over the past six years," the national trade promotion agency said in a statement today. Matrade said its Beijing office is currently supporting initiatives by some of Parkson's suppliers to also distribute Malaysia's FandB products to local and foreign-owned hypermarkets and convenient stores such as 7-Eleven and Jia Hue Supermarket. It said efforts are also being made to assist importers and distributors to penetrate north China through a series of events and promotional activities. "We encourage local manufacturers and exporters to venture into China's rapidly-expanding consumer market," it added. Food and beverages imported from Malaysia include biscuits and cookies, snacks, confectioneries, pudding, jelly, frozen seafood, coffee and tea.-- Bernama Short-term rates to remain stable http://www.btimes.com.my/articles/20130313111331/Article/ http://www.btimes.com.my/articles/20130313111331/Article/Wed, 13 Mar 2013 11:13:31 +0800Short-term rates are expected to remain stable Wednesday, as Bank Negara Malaysia continues to intervene to absorb excess liquidity from the financial system, dealers said. The central bank has estimated today's surplus at RM17.02 billion in the conventional system and RM2.6 billion in Islamic funds. Bank Negara will call for a RM5 billion range maturity auction for five to 92 days and a RM100 million Commodity Murabahah Programme for 21 days. It will also conduct a RM200 million repo tender for 92 days and an Al-Wadiah tender for RM500 million for seven days. At 4pm, Bank Negara will conduct up to RM12 billion conventional overnight tender and RM2 billion Al-Wadiah overnight tender.-- Bernama KL shares remain negative mid-morninghttp://www.btimes.com.my/articles/20130313095812/Article/ http://www.btimes.com.my/articles/20130313095812/Article/Wed, 13 Mar 2013 09:58:13 +0800Share prices on Bursa Malaysia remained in the negative territory as at mid-morning trading Wednesday in sync with the weaker performance on regional stock markets, dealers said. As at 11am, the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 9.67 points to 1,646.87. It opened 3.07 points weaker at 1,653.47 earlier. The Plantation Index lost 34.26 points to 7,940.72, the Industrial Index dipped 10.54 points to 2,828.38, and the Finance Index sank 71.9 points to 15,372.64. The FBM Emas Index dwindled 64.09 points to 11,258.96, the FBMT100 slipped 63.58 points to 11,100.82, and the FBM Mid 70 Index erased 64.12 points to 12,482.56, but the FBM Ace Index rose 6.65 points to 3,984.94. Losers led gainers by 298 to 128, with 219 counters unchanged, 987 untraded and 18 others suspended. Turnover stood at 241.4 million shares worth RM310.31 million. Actives, Patimas Computers and Asia Bioenergy Tech earned half sen each to four sen and seven sen, respectively, Asia Media Group gained one sen to 15 sen while GPRO Technologies was flat at 11 sen. Heavyweights, Maybank, Sime Darby and Axiata lost one sen each to RM9.19, RM9.19 and RM6.41, respectively, and CIMB declined eight sen to RM7.17.-- Bernama Ringgit opens higher on export boosthttp://www.btimes.com.my/articles/20130313105743/Article/ http://www.btimes.com.my/articles/20130313105743/Article/Wed, 13 Mar 2013 10:57:43 +0800The ringgit opened higher against the US dollar in early trading Wednesday following signs of improvement in the US economy, boosting Malaysia's export outlook. At 9.06am, the ringgit was quoted at 3.1020/1040 from yesterday's close at 3.1075/1105. A dealer said the US job data showed the fewest workers on record were fired in the world's largest economy in January and job openings rebounded in the country, the fourth biggest importer of Malaysian goods last year. Against other major currencies, the ringgit was traded higher against the Singapore dollar at 2.4886/4914 from Tuesday's 2.4892/4918 and strengthened against the yen to 3.2289/2313 from 3.2296/2344 yesterday. The local currency rose against the British pound to 4.6232/6274 from yesterday's 4.6299/6356 but eased against the euro to 4.0416/0448 from 4.0394/0440 Tuesday.-- Bernama US stocks eke out 6th record highhttp://www.btimes.com.my/articles/20130313074907/Article/ http://www.btimes.com.my/articles/20130313074907/Article/Wed, 13 Mar 2013 07:49:07 +0800NEW YORK: US stocks closed mostly lower Tuesday in quiet trade, but the Dow squeezed out a sixth straight day of record-high closings. The Dow Jones Industrial Average edged up 2.77 points (0.02 per cent) to 14,450.06, an all-time peak. The broad-market SandP 500 fell 3.74 points (0.24 per cent) to 1,552.48, snapping a seven-session winning streak. The tech-rich Nasdaq Composite dropped 10.55 points (0.32 per cent) to 3,242.32. "The record-breaking winning streak for the Dow continued, eking out a very modest gain, while technology stocks kept the other major indexes lower," Charles Schwab and Co. said in a market note. But stocks overall remained "close to the flatline, as the markets lacked any hint of a catalyst from either the economic and equity fronts." The Dow kept up its eight-day winning streak lifted by a 3.2 per cent rise in the shares of pharmaceutical giant Merck after it won regulatory approval to continue its clinical study of the cholesterol drug Vytorin. Also helping the blue-chip index was Boeing, up 1.5 per cent amid reports Irish airline Ryanair will announce an US$18 billion order for up to 200 aircraft. Dow oil major Chevron slipped 0.4 per cent after saying it was on track to meet its target for a large increase in oil and natural gas output in 2017. Tech heavyweight Apple tumbled 2.2 per cent to US$428.43 after a price target cut from analyst Jefferies, to US$420. Google dropped 0.9 per cent after agreeing to pay a US$7 million fine to settle a US Wi-Fi privacy lawsuit. Hewlett-Packard shed 1.8 per cent. BlackBerry gave back 2.9 per cent from Monday's 14.1 per cent gain after it announced the US launch date for its new Z10 smartphone, March 22. Yum Brands gained 1.3 per cent after the restaurant giant reported same-store sales fell about 2.0 per cent in China in February, not as much as analysts expected. -- AFP
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Troubled Church starts conclave to find new pope - Reuters

Posted: 12 Mar 2013 09:49 AM PDT

Cardinal Angelo Sodano leads mass in St. Peter's Basilica at the Vatican March 12, 2013. REUTERS/Stefano Rellandini

VATICAN CITY | Tue Mar 12, 2013 12:44pm EDT

(Reuters) - Red-robed cardinals retreated behind the heavy wooden doors of the Sistine Chapel on Tuesday at the start of a conclave that will elect a new pope to tackle the strife and scandal rocking the Roman Catholic Church.

Latin chants and organ music accompanied the cardinals as they processed into the room, with Michelangelo's depiction of Christ delivering the Last Judgment on the back wall and his image of the hand of God giving life to Adam on the ceiling.

Laying their own hands on the Gospels and speaking in Latin, they took a vow of secrecy not to divulge anything about the ballot, which was expected to start with an initial round of voting later in the afternoon.

No conclave in the modern era has chosen a pope on the first day, and some cardinals speculated earlier this week that it might take up to four or five days to pick the man to replace Pope Benedict, who unexpectedly abdicated last month.

The doors were shut at 5.34 p.m.(12.34 p.m. ET), and the master of ceremonies, Guido Marini, said "Extra Omnes" (Latin for "Everyone Out"), asking all those not associated with the gathering to leave the room, dominated by Michelangelo's 16th century fresco masterpieces.

Maltese Cardinal Prosper Grech, who at 87 is too old to participate, remained inside to give a sermon to remind the 115 cardinal electors of the gravity of their responsibility, before he and Marini were to be the last outsiders to leave.

Smoke from a chimney on the chapel roof will announce the outcome to the outside world. Black smoke means an inconclusive vote and white smoke signals the election of a pontiff.

The average length of the last nine conclaves was just over three days and none went on for more than five.

Earlier, on a day rich in ritual and pageantry, Italian cardinal Angelo Sodano called for unity in the Church, which is beset by sex abuse scandals, bureaucratic infighting, financial difficulties and the rise of secularism.

"My brothers, let us pray that the Lord will grant us a pontiff who will embrace this noble mission with a generous heart," Sodano said in his homily at a Mass in St. Peter's Basilica ahead of the conclave.

POSSIBLE PONTIFFS

No obvious front runner has emerged since Benedict's departure, with some prelates calling for a strong manager to control the much criticized Vatican bureaucracy, while others want a powerful pastor to promote their faith across the globe.

Italy's Angelo Scola and Brazil's Odilo Scherer are spoken of as possible front runners. The former would return the papacy to Italy after 35 years in the hands of Poland's John Paul II and the German Benedict; Scherer would be the first non-European pope since Syrian-born Gregory III in the 8th century.

However, a host of other candidates from numerous nations have also been mentioned as "papabili" - potential popes - including U.S. cardinals Timothy Dolan and Sean O'Malley, Canada's Marc Ouellet and Argentina's Leonardo Sandri.

Large crowds are expected to gather in St. Peter's Square, despite glowering grey clouds and regular rain showers, awaiting their new pontiff and hoping for positive changes.

"He must be a great pastor with a big heart, and also have the capacity to confront the Church's problems, which are very great," said Maria Dasdores Paz, a Brazilian nun who attended the Mass in Rome. "Every day there seem to be more."

In the past month, the only British cardinal elector excused himself from the conclave and apologized for sexual misconduct.

Signaling the divisions in Catholic ranks, Italian newspapers reported on Tuesday an open clash between prelates in a pre-conclave meeting on Monday.

The newspapers said the Vatican hierarchy's number two under Benedict, Tarcisio Bertone, had accused Brazil's Joao Braz de Aviz of leaking critical comments to the media.

Aviz retorted to loud applause that the chatter was coming from the Curia, the Vatican's central administration, which has been criticized for failing to prevent a string of mishaps, including leaks, during Benedict's troubled, eight-year reign.

All the prelates in the Sistine Chapel were appointed by either Benedict XVI or John Paul II, and the next pontiff will almost certainly pursue their fierce defense of traditional moral teachings.

But Benedict and John Paul were criticized for failing to reform the Curia, and some churchmen believe the next pope must be a good chief executive or at least put a robust management team in place under him.

Vatican insiders say Scola, who has managed two big Italian dioceses without being part of the central Vatican administration, could be well placed to understand its Byzantine politics and introduce swift reform.

The still influential Curia is said by the same insiders to back Scherer, who worked in the Vatican's Congregation for Bishops for seven years before later leading Brazil's Sao Paolo diocese - the largest in a country with the biggest national Catholic community.

With only 24 percent of Catholics living in Europe, pressure is growing to choose a pontiff from elsewhere in the world who would bring a different perspective.

Latin American cardinals might worry more about poverty and the rise of evangelical churches than questions of materialism and sexual abuse that dominate in the West, while the growth of Islam is a major concern for the Church in Africa and Asia.

The cardinals will retire to a Vatican guesthouse for the night before returning if necessary to the Sistine Chapel on Wednesday, where they will vote four times a day until they choose the man they believe to be the vicar of Christ on earth.

As in mediaeval times, the cardinals will be banned from communicating with the outside world. The Vatican has taken high-tech measures to ensure secrecy in the 21st century, including electronic jamming devices to prevent eavesdropping.

(Additional reporting by Naomi O'Leary and Tom Heneghan; Editing by Barry Moody, Alastair Macdonald and Peter Graff)

Rep. Ryan unveils $4.6 trillion plan to cut the deficit - USA TODAY

Posted: 12 Mar 2013 09:16 AM PDT

WASHINGTON — House Republicans unveiled a budget Tuesday that would balance the nation's books in 10 years without raising taxes but by eliminating President Obama's health care law, revamping Medicare for future retirees and creating just two tax brackets for individuals -- 10% and 25%.

By cutting $4.6 trillion in current spending over the next decade, the budget would achieve balance between what the government spends and what it collects in revenues by 2023.

"For the third straight year, we've delivered," House Budget Committee Chairman Paul Ryan, R-Wis., said Tuesday at a news conference. Since taking control of the House in 2010, the GOP has approved a budget each year. The House is scheduled to approve Ryan's budget next week. The GOP budget is non-binding and does not have the force of law, but it serves as a philosophical document on the party's views on the size and role of the federal government.

The conservative blueprint stands no chance of gaining traction with Senate Democrats or Obama, but the plan is a starting point for renewed debate about how to balance the budget. Senate Democrats, for the first time since 2009, will unveil a competing budget Wednesday.

Senate Democrats will call for raising $1 trillion in new revenues while cutting $1 trillion in federal spending, but they have not offered any specifics ahead of Wednesday's release. Senate Budget Committee Chairwoman Patty Murray, D-Wash., will preview the budget to her Senate Democratic colleagues at a Tuesday meeting that Obama is scheduled to attend on Capitol Hill. The 50/50 ratio of taxes to cuts is on par with the president's call for "a balanced approach" for deficit reduction.

Key elements of the GOP budget include:

  • A balanced budget achieved in a decade by not allowing the government to spend more than it collects in revenue, which Republicans set at 19.1% of gross domestic product. By their measure, the federal government will spend $4.6 trillion less over the next decade that the government is currently on track to spend.
  • A 3.4% annual increase in spending each year, but Republicans estimate the economy will grow by a faster margin to help balance the books.
  • Cuts the growth of the public debt to an estimated $14.2 trillion by 2023 instead of the nearly $20 trillion estimated by the non-partisan Congressional Budget Office.
  • Authorizes construction of the 1,700-mile Keystone XL oil pipeline and estimates it would create 20,000 new jobs.
  • A full repeal of Obama's health care law.
  • Support for new laws to limit medical malpractice liabilities.
  • A fundamental overhaul of the Medicare system for future retirees. Starting in 2024, seniors would be given a federal subsidy to purchase health care from the private market, instead of the guaranteed benefit system that currently exists. It also calls for wealthy seniors to pay more for premiums.
  • Ryan's plan also keeps in place $716 billion in Medicare cuts in payments to providers included in the president's health care law to achieve balance. As a vice presidential candidate in 2012, Ryan opposed these cuts and attacked Obama for it in his convention speech.
  • A transfer of power to states to determine how Medicaid and other funds should be spent on programs, including food stamps.
  • An increase in defense spending over current law.
  • A plan to transform the tax code to simplify it from seven individual tax brackets to two, as well as a repeal of the Alternative Minimum Tax.
  • A 25% corporate tax rate.
  • A requirement that the president and Congress offer respective proposals for the long-term solvency of Social Security.

The outline is similar to the two previous budgets offered by House Republicans. Ryan acknowledged that their Medicare proposal is politically sensitive.

"The other side will demagogue this issue. But remember: Anyone who attacks our Medicare proposal without offering a credible alternative is complicit in the program's demise," he wrote in a column published in Tuesday's Wall Street Journal.

In a statement, the White House criticized the Ryan plan as one that would disproportionately hurt the middle class and protect the wealthy. The White House also made clear they would oppose Ryan's Medicare overhaul. "This budget would turn Medicare into a voucher program undercutting the guaranteed benefits that seniors have earned and forcing them to pay thousands more out of their own pockets," they said. "The president still believes it is the wrong course for America."

Senate Democrats are likewise on track to vote on their budget next week. The president has not yet sent his budget request to Congress. It is not expected until early April.

The two chambers are unlikely to reconcile the competing budget plans, but approval in the House and Senate by April 15 will ensure that lawmakers can still collect their paychecks.

A law passed earlier this year mandated that lawmakers approve a budget by the April deadline or their salaries would be held in escrow until a budget was passed or the current Congress ended in January 2015.

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Isnin, 11 Mac 2013

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LTAT to pay highest ever dividend

Posted: 11 Mar 2013 10:08 PM PDT

The Lembaga Tabung Angkatan Tentera (LTAT) today announced its highest ever dividend payout of 16 per cent, amounting to RM759.3 million, one per cent better when compared to previously.

Defence Minister, Datuk Seri Dr Ahmad Zahid Hamidi the payout comprised a seven per cent dividend, one per cent bonus, and eight per cent special bonus in the form of unit trusts.

"This reflects an increase of 11.6 per cent in total payout against the RM680.4 million recorded in 2011," he told a media briefing on LTAT's results here.

LTAT also posted a higher unaudited income of RM907.4 million for its financial year ended December 31, 2012, the highest recorded, since its establishment 40 years ago.

This is an increase of 5.5 per cent when compared to the RM860 million registered in the same period of 2011.

As at December 31, 2012, LTAT's assets rose by 10 per cent to RM8.8 billion compared with RM8 billion previously. Members' contributions stood at RM7.8 billion against RM7.1 billion in 2011.

For 2013, Ahmad Zahid said LTAT aims to notch a RM1 billion profit alongside higher dividends, on the back of the stellar 2012 performance.

This would also be supported by expectations of stronger earnings from its subsidiaries, Boustead Heavy Industries Corp and Affin Holdings Bhd, as well investments in trading, property and retail.-- Bernama

Toho may build plant in Malaysia

Posted: 11 Mar 2013 08:28 PM PDT

Toho Titanium Co may build a factory outside Japan for the first time as it seeks to escape escalating energy costs brought on by the Fukushima disaster.

The company, whose products are turned into lightweight and corrosion-resistant parts used in everything from Boeing Co's 787 Dreamliner airplane to desalination plants, may spend several hundred million dollars to build the overseas plant in either Malaysia or another lower-cost site, chief executive officer Kiyonobu Sugiuchi said in a March 8 interview.

"It will be tough for us to operate plants just in Japan," Sugiuchi said in the interview in Chigasaki, south of Tokyo. "We used to insist on staying in Japan."

Toho Titanium's possible move abroad highlights the challenges facing high-energy consumers such as steelmakers and chemical companies following the shutdown of almost all Japan's nuclear reactors after Fukushima two years ago. Japan last year paid 6 trillion yen (US$62 billion) for liquefied natural gas imports, or 73 per cent more than two years earlier, as the nation turned to alternative power plants.

Higher titanium ore prices have pushed up raw material costs for the titanium industry. The cost of titanium ore delivered from Australia has tripled to US$1,550 per metric tonne in the past three years, according to Metal Bulletin data.

Ore costs and a higher bill for electricity pushed Toho Titanium's operating profit down by 1.9 billion yen in the six months ended September 30, the company said in a November 9 statement.

The Japan Titanium Society, together with eight other domestic industry groups, in January urged the nation's trade ministry to take measures, including subsidies and the resumption of nuclear plants, to alleviate cost increases.

Waning demand for titanium from industrial plant users is making it difficult to pass on increased costs to domestic customers, Sugiuchi said. Titanium ingot prices may fall for the first time in three years or at best match year-ago levels in the fiscal year beginning April 1, Sugiuchi said.

In addition to higher energy and raw material costs, the grounding of Boeing's 787 Dreamliner since January 16 after battery failures is adding pressure.

Boeing's new aircraft, which is built with light carbon-fibre materials instead of aluminum to boost efficiency, uses titanium in roughly 14 per cent of the total airframe, according to Boeing's website.

Titanium use has been expanded in the 787 because it is resistant to corrosion, has minimal fatigue concerns and can withstand comparable loads better than aluminum, Boeing says.

Japanese companies have a record 35 per cent production share of the 787's body. Mitsubishi Heavy Industries Ltd, IHI Corp, Toray Industries Inc and Osaka Titanium Technologies Co are among companies involved in the plane's construction.

The possibility that Boeing's battery woes will tarnish the Dreamliner's reputation is of great concern, Sugiuchi said.

"If successful, other planes will be made using similar construction methods, leading to greater demand for titanium," Sugiuchi said. "It would be a problem if they don't succeed with the plane."

The grounding of the 787 will have no immediate impact on earnings because the US planemaker is continuing with production even amid the investigation, Sugiuchi said.

Toho will deepen output cuts to 30 per cent in April and will keep factory operations lower than normal for the next 12 months as it awaits a recovery, Sugiuchi said.-- Bloomberg

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Cardinals Arrive at Vatican Before Papal Conclave - Voice of America

Posted: 11 Mar 2013 11:22 AM PDT

Catholic cardinals gathered at the Vatican for their last pre-conclave talks Monday, the day before they seal themselves into the Sistine Chapel to elect a successor to Pope Benedict.

The conclave is due to begin Tuesday and will involve 115 cardinal-electors. They are expected to vote until one man receives at least a two-thirds majority, or 77 votes. Cardinals must be under 80 to vote.

The centuries-old tradition of choosing the new leader of the world's Catholics is cloaked in secrecy, and no clear favorite has emerged to take the helm of the Church.

Some reports are speculating that Milan Archbishop Angelo Scola and Brazilian Pedro Odilo Scherer are top contenders. Others are pointing to Cardinal Timothy Dolon of New York and Cardinal Sean O'Malley of Boston.

Over the past several days the Cardinals have been holding closed-door meetings in Rome to discuss the challenges that the next pope will face and vet possible candidates for the post.

Also under discussion are the child sex abuse scandals involving priests, and allegations of cover-ups by bishops, which have shaken confidence in the church.

Pope Benedict surprised the world last month, when after eight years in office he became the first Roman Catholic Church leader in 600 years to step down voluntarily.

The cardinals will officially enter the conclave at 5:00 p.m. local time on Tuesday. The first possible smoke sighting from the Sistine Chapel chimney should emerge around 7:00 p.m. Black smoke from the burned ballot papers means a pope has not been chosen -- white smoke means the new pontiff has been elected.

There will be no more than four votes per day.

US imposing new sanctions on North Korean bank: Obama aide - Reuters

Posted: 11 Mar 2013 11:19 AM PDT

Tom Donilon stands as U.S. President Barack Obama announces the resignation of National Security Advisor James Jones in the Rose Garden of the White House in Washington, October 8, 2010. REUTERS/Larry Downing

Tom Donilon stands as U.S. President Barack Obama announces the resignation of National Security Advisor James Jones in the Rose Garden of the White House in Washington, October 8, 2010.

Credit: Reuters/Larry Downing

NEW YORK | Mon Mar 11, 2013 2:13pm EDT

(Reuters) - The U.S. Treasury is imposing sanctions against North Korea's Foreign Trade Bank, the country's main foreign exchange institution, for its role in supporting Pyongyang's nuclear weapons program, President Barack Obama's national security adviser said on Monday.

In a speech to the Asia Society in New York, the White House aide, Tom Donilon, also said China should not conduct "business as usual" with North Korea while Pyongyang threatens its neighbors.

"The United States will not accept North Korea as a nuclear state," Donilon said in prepared remarks. "Nor will we stand by while it seeks to develop a nuclear-armed missile that can target the United States."

He said Washington was willing to negotiate with North Korea but insisted that it must first take "meaningful steps" to meet its international obligations.

The Treasury Department said it was designating for sanctions three individuals in connection with the Foreign Trade Bank: Pak To-Chun, Chu Kyu-Chang and O Kuk-Ryol. It also sanctioned Paek Se-Bong, chairman of North Korea's Second Economic Committee.

"North Korea uses FTB to facilitate transactions on behalf of actors linked to its proliferation network, which is under increasing pressure from recent international sanctions," the Treasury said in a statement.

(Reporting By Matt Spetalnick; Editing by Christopher Wilson)

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Ahad, 10 Mac 2013

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KL shares open mixed on mild profit-taking

Posted: 10 Mar 2013 07:04 PM PDT

Share prices opened mixed in early trading Monday on mild profit-taking in selected heavyweights, dealers said.

As at 9.29am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.49 of a point to 1,653.47, after opening 1.64 points lower at 1,652.32.

HwangDBS Vickers Research Sdn Bhd said the benchmark FBM KLCI could break past 1,655 to move towards the next resistance threshold of 1,670 while awaiting the release of macro reports later today.

"January external trade, industrial production index and February plantation statistics will be on investors' focus today," it said in a research note.

On Wall Street, Major US stock indices made further gains of between 0.4 per cent and 0.5 per cent Friday amid optimism that the world's largest economy is showing visible signs of a sustainable recovery, it said.

"This is expected to give investors a boost in confidence when Asian equities resume trading this morning," it added.

Meanwhile, the Plantation Index slipped 8.07 points to 7,935.84, but the Industrial Index gained 0.03 of a point to 2,836.53 and the Finance Index added 12.59 points to 15,312.07.

The FBM Emas Index shed 0.73 of a point to 11,290.42, the FBMT100 fell 2.01 points to 11,133.49, but the FBM Mid 70 Index rose 3.49 points to 12,464.93 and the FBM Ace Index advanced 26.76 points to 4,016.92.

Gainers led losers by 130 to 92, 154 counters were unchanged, 1,256 untraded and 18 suspended.

Turnover stood at 56.7 million shares worth RM74.3 million.

Among actives, Tebrau Teguh added 0.35 sen to RM1.02, Padiberas Nasional and Puncak Niaga Holdings earned one sen each to RM3.68 and RM1.55, respectively, while Pan Malaysia Capital was flat at four sen.

Among heavyweights, Maybank and Axiata earned one sen each to RM9.14 and RM6.43, respectively, while Sime Darby and CIMB were flat at RM9.21 and RM7.26, respectively.-- Bernama

Ringgit opens higher versus US dollar

Posted: 10 Mar 2013 07:07 PM PDT

The ringgit was traded lower against the US dollar Monday on lack of fresh leads, dealers said.

At 9am, the ringgit was quoted at 3.1125/1150 for a US dollar against 3.1050/1080 at Friday's closing.

A dealer said the market was still looking for fresh catalyst as Bank Negara Malaysia has left the overnight policy rate unchanged at three per cent last week, deeming the level as "appropriate" given the current outlook on inflation and growth.

Against other major currencies, the ringgit was traded higher against the Singapore dollar at 2.4890/4926 from Friday's close at 2.4918/4944 but weakened against the yen to 3.2381/2424 from 3.2698/2747 last week.

The local currency rose against the British pound to 4.6417/6457 from 4.6612/6670 at last week's close but strengthened against the euro to 4.0434/0473 from 4.0666/0709 Friday.-- Bernama
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Jeb Bush says he is not thinking about presidential bid - yet - Reuters

Posted: 10 Mar 2013 09:53 AM PDT

Former Governor of Florida Jeb Bush speaks while promoting his book ''Immigration Wars: Forging an American Solution'' at the Ronald Reagan Presidential Library in Simi Valley, California March 8, 2013. REUTERS/Mario Anzuoni

Former Governor of Florida Jeb Bush speaks while promoting his book ''Immigration Wars: Forging an American Solution'' at the Ronald Reagan Presidential Library in Simi Valley, California March 8, 2013.

Credit: Reuters/Mario Anzuoni

WASHINGTON | Sun Mar 10, 2013 12:49pm EDT

(Reuters) - Former Florida Governor Jeb Bush appeared on five morning talk shows on Sunday to plug his new book on immigration, but said his heightened visibility does not mean he is re-entering politics or planning a White House run - not yet, anyway.

The talk-show marathon capped a busy week of public appearances for Bush, one of several Republicans seen as potential contenders for the 2016 presidential nomination. Bush said it is too early to seriously ponder a bid for the White House.

"I've decided to defer any consideration of it until the proper time ... which is out more than a year from now, for sure," Bush said on CNN's "State of the Union" show. "When I go through that process, I'll let you know."

Bush's book tour has sparked a torrent of speculation about his political future, but he has shrugged off questions about his plans without definitively ruling out a presidential bid.

"I'm not viewing this as a political re-entry," he told ABC's "This Week" of the media tour for his book. On NBC's "Meet the Press," he described the media as "crack addicts" obsessed with speculation about the campaign.

Bush is one of a handful of potential Republican contenders in the public eye in recent months, a list that also includes Republican Senator Marco Rubio of Florida, Louisiana Governor Bobby Jindal and New Jersey Governor Chris Christie.

Bush has come under fire for appearing to backtrack on his support for a path to citizenship for illegal immigrants. A passage in his book proposes a path to legal residency for undocumented immigrants but tough conditions for citizenship.

"I haven't changed," he said on CBS's "Face the Nation" show. "I support a path to legalization or citizenship so long as the path for people that have been waiting patiently is easier and costs less — the legal entrance to our country — than illegal entrance."

Republicans have become more favorable to the idea of a path to citizenship since losing the Hispanic vote by a big margin in November, and Bush said he backs bipartisan Senate efforts to develop a comprehensive immigration plan led by a group including Rubio.

"This is a very encouraging time, because if we can get immigration right, imagine, there's possibilities of cats and dogs living with one another in other policy areas as well," Bush said.

While Bush's father and brother were both presidents, he said he did not believe he would carry any "Bush baggage" into a possible presidential bid. He said his brother George's unpopular 2001-2009 tenure in the White House will eventually be viewed more favorably.

"I love my brother. I'm proud of his accomplishments. I love my dad, I'm proud to be a Bush and if I run for president it is not because of something in my DNA that compels me to do it," he said on "Fox News Sunday."

(Editing by Eric Walsh)

Afghanistan's Karzai criticizes US, exposing tension - Reuters

Posted: 10 Mar 2013 09:37 AM PDT

Afghan President Hamid Karzai sits during an event to mark International Women's Day in Kabul March 10, 2013. REUTERS/Mohammad Ismail

KABUL | Sun Mar 10, 2013 12:36pm EDT

(Reuters) - The top U.S. general in Afghanistan expressed dismay on Sunday at remarks by President Hamid Karzai, who suggested that Washington benefited from Taliban attacks on his country.

Karzai's remarks, delivered during the first visit by new U.S. Defense Secretary Chuck Hagel, further strained already fraught ties between Karzai and the Western allies who are fighting to protect his government from insurgents.

The United States still has 66,000 troops in Afghanistan, down from almost 100,000 two years ago at the height of a surge ordered by President Barack Obama. Washington intends to withdraw most of them by the end of next year but wants to negotiate a continued, smaller presence.

Speaking a day after two Taliban bomb attacks that killed 17 people, Karzai said the bombings served Washington's aim of trying to convince Afghans that U.S. forces were needed.

"Those bombs that went off in Kabul and Khost were not a show of force to America. They were in service of America. It was in the service of the 2014 slogan to warn us if they (Americans) are not here then Taliban will come," Karzai said.

"In fact those bombs, set off yesterday in the name of the Taliban, were in the service of Americans to keep foreigners longer in Afghanistan," he said in a speech.

Karzai's remarks drew a rebuke from General Joseph Dunford, the head of U.S. and NATO forces in Afghanistan.

"We have fought too hard over the past 12 years, we have shed too much blood over the past 12 years, we have done too much to help the Afghan security forces grow over the last 12 years to ever think that violence or instability would be to our advantage," he told reporters.

Of Karzai's remarks, he added: "I'll let others judge whether that's particularly helpful or not at the political level."

Karzai has a history of making inflammatory statements that exasperate Washington. His comments have become increasingly bitter as the withdrawal date has approached.

Karzai's government also alleged on Sunday that U.S.-led forces and Afghans working with them were abusing and arresting university students. Karzai issued an executive order banning foreign troops from entering all education institutions.

The United States helped install Karzai in power in 2001 after driving the Taliban out of Kabul in a bombing campaign, in retaliation for the Taliban shielding al Qaeda leader Osama bin Laden. U.S. troops have fought since then to help prevent the Taliban from returning, but many in Afghanistan resent the presence of foreign forces and question their aims.

The Taliban have for years demanded the withdrawal of foreign forces and have never suggested that they should stay.

ALL TALK ABOUT DIALOGUE

The issue of U.S. troop levels after most U.S.-led NATO combat troops withdraw by the end of 2014 will be one of the main subjects on the agenda at talks between Karzai and Hagel, who is making his first foreign trip as Pentagon chief.

A joint news conference that had been scheduled for them was cancelled because of security worries, a U.S. official said.

One of Saturday's bombings, a suicide attack which killed nine people, took place outside the defense ministry where Hagel's meetings with his Afghan counterpart were supposed to take place. A U.S. official said the venue for Hagel's meetings with Afghan officials had been changed.

Among many sources of friction, Hagel's visit coincides with the passing of a deadline imposed by Karzai for U.S. special forces to leave the province of Wardak, after Karzai accused them of overseeing torture and killings in the area.

U.S. forces have denied involvement in any abuses and a NATO official said on Saturday that U.S. special forces were still operating in Wardak. Hagel has sounded hopeful that a deal could be reached on their continued deployment.

Karzai also said the Taliban and the United States had been holding talks in the Gulf Arab state of Qatar on a "daily basis", further fuelling his suggestion that Washington and the militants were working at common purposes.

The militant group and Washington both denied they had resumed efforts on dialogue, which stalled a year ago.

The U.S. government has said it is committed to political reconciliation involving talks with the Taliban, but progress would require agreement between the Afghan government and the insurgents.

"This is simply incorrect," said a U.S. official, who declined to be identified, when asked about Karzai's remarks about the talks.

The Taliban spokesman in Afghanistan, Zabihullah Mujahid, also denied that negotiations with the United States had resumed and said no progress had been made since they were suspended.

"The Taliban strongly rejects Karzai's comments," he said.

The Kabul government has been pushing hard to get the Taliban to the negotiating table before foreign troops withdraw.

Afghan officials have not held direct talks with the militants. U.S. diplomats have been seeking to broaden exploratory talks with the Taliban that began clandestinely in Germany in late 2010 after the Taliban offered to open a representative office in Qatar.

Regional power Pakistan indicated a few months ago that it would support the peace process by releasing Afghan Taliban detainees who may help promote the peace process. But there have been no tangible signs the move advanced reconciliation.

(Additional reporting by Hamid Shalizi; Writing by Michael Georgy and Jeremy Laurence; Editing by Peter Graff)

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Uhuru Kenyatta wins Kenyan election by a narrow margin - The Guardian

Posted: 09 Mar 2013 09:49 AM PST

Kenyatta supporters
Kenyatta supporters celebrate his victory in Nairobi earlier today. Photograph: Simon Maina/AFP

International criminal court indictee Uhuru Kenyatta was officially declared the winner of Kenya's presidential election afternoon, although his rival, Raila Odinga, will not concede defeat and a legal challenge, alleging widespread fraud, is certain.

Kenyatta won by the slimmest of margins, earning 50.07% of the vote to clinch a first-round win, in an election that saw a record turnout of 84.9% of registered voters. Kenyans waited for nearly a week for its beleaguered electoral body, the Independent Electoral and Boundaries Commission, to announce the result. So far protests have remained peaceful in a country known for ethnic violence.

"This is a coming of age for Kenya," Kenyatta said in his acceptance speech. "Despite the misgivings of many in the world, we have demonstrated a level of political maturity that surpassed expectation. We voted in peace, we upheld order and respect for the rule of law, and maintained the fabric of our society."

Kenyan media called the election for Kenyatta before dawn after the electoral commission posted results from the last constituencies, but did not officially crown Kenyatta the winner until early afternoon. In the dawn hours, Kenyatta supporters blew whistles and vuvuzelas in celebration.

Boniface Mwinde, 25, is a bus conductor and Kenyatta supporter who went out to celebrate at three in the morning. "I feel very, very good," he said, wrapping himself in a red flag of Kenyatta's party. "I've been waiting to go back to work." Businesses and schools were closed across Nairobi during the long wait.

A Kenyatta presidency has worried western governments, which may have to limit diplomatic contact with Kenya due to the international criminal court charges against him. Kenya is an ally of the west in combating terror in Africa, and Nairobi, the capital, is home to a UN headquarters.

John Kerry, the US secretary of state, released a statement after the election saying America would remain "a strong friend and ally of the Kenyan people", but outgoing assistant secretary of state for Africa Johnnie Carson had previously warned of "consequences" for Kenya's government with Kenyatta in office.

In his acceptance speech, Kenyatta told the international community that he would work with the ICC prosecution. "To the nations of the world I give you my assurance that ... we will continue to co-operate with all nations and institutions," he said.

"However," he added, "we also expect that the international community will respect the sovereignty and the democratic rule of Kenya." Kenyatta has called the ICC charges western meddling in Kenyan affairs.

Kenya's last general elections in 2007 were racked by ethnic violence that killed more than 1,200 people and left hundreds of thousands homeless after disputes over election results. This time Kenyans mobilised against violence with rallies, concerts and online campaigns. Last Monday's vote earned international praise as peaceful and fair.

But electronic glitches and lack of transparency tarnished the vote counting process, stretching the process over six days. Odinga's Coalition for Reforms and Democracy party accused the electoral commission of permitting vote-rigging, and a coalition of civil society groups filed a case against the electoral commission asking for a halt in the release of results, although this was dismissed. Tensions mounted as the long counting process tested Kenyans' patience.

When official results gave Kenyatta the presidency, Odinga urged his supporters to remain peaceful despite losing. "Let the supreme court determine whether the result determined by the [Independent Electoral and Boundaries Commission] is the correct one. Any violence now will destroy this nation forever." Overall, peace held throughout the country, though there were reports of police in the western city of Kisumu dispersing small riots with tear gas and some rock throwing in the Nairobi slum of Kibera.

Odinga alleged "massive tampering of the tallying process," and vowed to go to the Kenyan supreme court for redress. "Democracy is on trial in Kenya," said Odinga. "It is clear that the process of electing a new set of leaders has been thwarted by another tainted election." The case will begin tomorrow, and could lead to another lengthy wait for Kenyans.

But Josh Ogure, an electrician in Kibera who supported Odinga, was not excited about a court battle. "I'm disappointed," he said of Odinga losing the election, "but I don't think there is anything that can change it. I will just now have to move on."

As Security Crisis Deepens in Egypt After Verdict, Calls for a Military Coup - New York Times

Posted: 09 Mar 2013 09:05 AM PST

PORT SAID, Egypt — Just months ago, demonstrators here and around Egypt were chanting for the end of military rule. But on Saturday, a court ruling about a soccer riot set off angry mobs that burned two buildings in Cairo and threatened the Suez Canal here, many in the crowd here said they had changed their minds. They argued that a military coup might now be the best hope to restore order.

"Military rule was bad, but they would be better," Ahmed Abdel Fattah, 50, said. "Where is the state? Where is the interior ministry, the government? Where are the decisions to protect the interests of the people?" He added: "The military should take over until the police are ready."

Although such calls are hardly universal and there is no threat of an imminent coup, murmurs that military intervention may be the only solution to the collapse of public security can be heard across the country, in circles opposed to the Islamists who have dominated post-Mubarak elections. The talk reflects the dire state of the security crisis, which threatens not only Egypt's transition to democracy but also its hopes to stave off economic collapse. And here in Port Said, a focal point of the widening crisis since the police lost control more than a month ago, a form of local military takeover has already taken place.

As the city braced for a court ruling on Saturday about responsibility for a deadly riot last year at a match between Port Said and Cairo, security forces fled the city. The few local police stations where staff was still present "suspended" their work, officers said, in what appeared to be part of a widening strike by police and security forces across the country.

The crisis in Port Said began in late January with a similar verdict. A court initially sentenced 21 local soccer fans to death for their role in a riot at match against a team for Cairo.

When the verdict came, the court confirmed the death sentences it had issued last month to 21 Port Said soccer fans. Its preliminary decision set off a month of lethal clashes with security forces that killed at least four police officers and more than 40 civilians. It prompted the president to deploy the military. On Saturday the court reaffirmed the death sentences and added a verdict that only increased the anger in the streets. It convicted two senior security officials, sentencing both to 15 years in jail for negligence. But it acquitted seven police officers and two officials of the Port Said soccer club.

With the police all but gone, crowds that had vowed revenge were unsure where to vent their rage. Hundreds of Port Said residents and several wailing relatives of those sentenced to die gathered in the square opposite the empty security headquarters, which was badly damaged by flames and pockmarked with broken windows from a weeklong siege by protesters. "The whole city comes to the streets!" one man shouted.

But the mob was confused. "We don't know what to do!" one man shouted. "We want a police officer to kill, a soldier to rip apart."

Another screamed in frustration: "They took the police outside the city so we will bang our heads against the wall!"

When the crowd moved toward soldiers, a row of civilians linked hands and held back the mob. "The army and the people are one hand," they chanted, reprising the mantra of the early days after Mr. Mubarak's ouster, when protesters applauded the military for taking over to end his rule.

Handmade banners around the city echoed the sentiments. "Port Said is in the protection of the military," read one notice signed by "the people of Port Said."

And the military hung banners that appeared to take the side of the residents against the police. "The Armed Forces share the people's grief for the martyrs of Port Said," one military sign declared.

David Kirkpatrick reported from Port Said, and Kareem Fahim from Cairo. Mayy El Sheikh contributed reporting from Port Said.

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