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BNM closely monitors personal financing Posted: 20 Mar 2013 06:53 PM PDT Bank Negara Malaysia will continue to closely monitor the personal financing segment of the banking industry to ensure the country's household debt remains well-contained. Last year's strong 30 per cent growth of personal financing, driven by expansion in lending by non-bank financial institutions, warranted Bank Negara to be more rigorous in its oversight, said governor Tan Sri Zeti Akhtar Aziz. She said for now, there is little concern over this development as the credit risk of non-banks for this loan portfolio remains low at only 1.6 per cent. She noted that the majority of these non-bank borrowers are those earning RM3,000 or less, but the credit risk is well mitigated as about 80 per cent of them have stable jobs and regular salary and repayment is made via automatic salary deduction. "These developments are nonetheless being closely monitored, particularly in light of recent innovation observed on the product offering by the non-bank financial institutions," said Zeti. On the whole banking system, she said as at end of last year, the gross impaired loans ratio of the banking system improved to 1.5 per cent for the household portfolio, 2.9 per cent for large business and 3.0 per cent for small and medium enterprises.

KL shares open mixed Posted: 20 Mar 2013 07:08 PM PDT Share prices on Bursa Malaysia opened mixed, in early trade, as the market was yet to pick up momentum, dealers said. As at 9.20am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.17 points lower at 1,630.37 after opening 1.5 points higher at 1,632.59. HwangDBS Vickers Research said the key FBM KLCI could add on to its two-day cumulative gains of 10.2-points by riding on the prevailing recovery momentum. "On the chart, the benchmark index may challenge the immediate resistance barrier of 1,635 today. "This comes as Wall Street extended its run-up last night. In particular, bullish investors pushed up major US equity indices by between 0.4 per cent and 0.8 per cent at the closing bell on the back of better economic outlook," it said in a note today. Among the local stocks that may garner added interest today include MRCB Bhd, after media reports said it had received a letter of intent to upgrade the Klang Valley double-tracking system for approximately RM850 million. Eastern & Oriental Bhd, which has signed an agreement with a Japanese partner to jointly undertake a high-end property development project in Kuala Lumpur also stood to gain together with Pintaras Jaya Bhd which just bagged a RM30 million construction job. On the chart, the Plantation Index rose 11.96 points to 7,825.35 and the Industrial Index gained 1.07 points to 2,828.63. The Finance Index, however, fell 14.65 points to 15,307.51. The FBM Emas Index eased 6.94 points to 11,163.15, the FBMT100 was 8.33 points lower at 10,999.88, the FBM Mid 70 Index lost 11.18 points to 12,422.24 and the FBM Ace Index slipped 3.45 points to 3,943.46. Gainers led losers 106 to 95, with 110 counters unchanged, 1,333 untraded and 25 others were suspended. Turnover stood at 59.176 million shares worth RM72.457 million. Actives, Karambunai gained one sen to 11.5 sen, Muhibbah and Tebrau Teguh garnered five sen each to RM1.06 and RM1.40, respectively, while Mulpha International was flat at 40.5 sen. Heavyweights, Maybank rose four sen to RM9.16 but both Sime Darby and Axiata Group were flat at RM9.19 and RM6.33, respectively. However, CIMB Group, Petronas Chemicals and Maxis lost one sen each to RM7.16, RM6.37 and RM6.50, respectively.-- Bernama

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Global shares up as Cyprus fears ease, eyes turn to Fed - Reuters Posted: 20 Mar 2013 09:29 AM PDT By Ryan Vlastelica NEW YORK | Wed Mar 20, 2013 12:26pm EDT (Reuters) - Stock markets around the world rose and the euro held firm on Wednesday on hopes that European policymakers would contain the financial crisis in Cyprus after lawmakers there voted down a rescue plan. Investors also turned their attention to the outcome of the U.S. Federal Reserve's policy meeting that ends later on Wednesday, though few major changes in policy are expected. Efforts to rescue Cyprus were thrown into disarray on Tuesday when its lawmakers rejected the conditions for a 10 billion euro European Union bailout. But markets have calmed as investors expect an alternative solution to emerge. "Concerns have faded, and it doesn't seem like we'll see much headline risk from Cyprus as the European Central Bank continues to work toward a solution," said Mark Martiak, senior wealth strategist at Premier/First Allied Securities in New York. U.S. and European stocks were on track to snap a three-day streak of losses, though European shares were off session highs after a spokesman for the Cyprus government denied media reports of a deal to sell Cyprus Popular Bank CPBC.CY to Russian investors. Europe's broad FTSEurofirst 300 index .FTEU3 edged 0.3 percent higher, while MSCI's world equity index .MIWD00000PUS rose 0.4 percent. The euro bounced off four-month lows to $1.2945 and the U.S. dollar index .DXY dipped 0.3 percent. The Dow Jones industrial average .DJI was up 53.64 points, or 0.37 percent, at 14,509.46. The Standard & Poor's 500 Index .SPX was up 7.81 points, or 0.50 percent, at 1,556.15. The Nasdaq Composite Index .IXIC was up 15.34 points, or 0.47 percent, at 3,244.43. In Asia, Hong Kong stocks bounced off a three-month low thanks to a rally in Chinese shares, but MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slipped 0.1 percent as other regional markets worried about Cyprus. Japanese markets were closed for a holiday. Investors were looking ahead to a statement from the Federal Reserve's policy committee and a news conference by Chairman Ben Bernanke later in the day. Markets expect the Fed to maintain its $85 billion monthly bond-buying stimulus effort despite recent improvements in U.S. economic data. But they will closely monitor Bernanke's comments for signals on how long the policy will continue. "The Fed has made it clear its bond-buying program will continue at least through mid-2015, so risk assets will continue to be embraced, but if the Fed indicates it will start buying a reduced amount, that may be something that could lead to a pullback," Martiak said. Concerns about Cyprus were clearly evident at an auction of German government bonds, seen as a European safe haven. The sale of 3.36 billion euros in new 10-year securities drew strong demand and sold at an average yield of 1.36 percent, the lowest auction price since July last year. Still, German government bonds ticked lower, with the Bund future down 0.2 percent at 144.33. In the U.S. bond market, the benchmark 10-year Treasury note was down 8/32, the yield at 1.9303 percent. Bond investors were looking to comments by the European Central Bank, which has said it will provide liquidity to Cypriot banks within certain limits, even though if there was no bailout, the bank would have to end emergency lending assistance under its current rules. Cypriot leaders were holding crisis talks in Nicosia on Wednesday to try to avert a financial meltdown after Tuesday's overwhelming rejection of the terms of the European Union bailout, which involved a levy on bank deposits. The country was trying to get help from Russia, given the high level of Russian deposits in Cypriot banks, but failed to agree on any loan deal at a first round of talks. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Cyprus bank tax calculator: here Euro periphery bank deposits link.reuters.com/vep58s Cyprus deposits graphic link.reuters.com/fuf76t ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> UK BUDGET EYED, OIL RISES The main UK share index .FTSE dipped a modest 0.2 percent. British finance minister George Osborne called on the Bank of England to do more to help spur the country's stagnant economy as he announced a halving of this year's growth forecast in an annual budget statement. Oil prices joined in the general recovery, with Brent crude rising 0.4 percent to $107.90, while U.S. crude futures added 0.2 percent to $92.36. "Clearly, market players anticipate that an alternative solution will be found for Cyprus," said Carsten Fritsch, analyst at Commerzbank. "Nonetheless, the uncertainty surrounding this issue is likely to continue to keep oil prices in check in the short run." (Editing by Chizu Nomiyama and Dan Grebler)

Head of Colorado's Prisons Is Fatally Shot at Home - New York Times Posted: 20 Mar 2013 09:01 AM PDT By JACK HEALY and TIMOTHY WILLIAMS Published: March 20, 2013 DENVER — The head of Colorado's Department of Corrections was fatally shot as he opened the front door of his home, the authorities said, hours before Gov. John W. Hickenlooper signed into law a series of restrictive gun control measures. The department's executive director, Tom Clements, 58, who was shot Tuesday night, lived with his family in Monument, near Colorado Springs in central Colorado, the authorities said. The El Paso County Sheriff's Department said that it had not identified a suspect and had no description of the shooter, but that it was investigating whether Mr. Clements' work may have led to his death. "We're sensitive to the fact that serving in that type of position could in fact make him a target," said Lt. Jeff Kramer, a Sheriff's Department spokesman. Mr. Hickenlooper announced the news on his Facebook page early Wednesday, calling Mr. Clements "unfailingly kind and thoughtful." Later at a news conference, Mr. Hickenlooper, his voice breaking as he searched for words, called Mr. Clements a "dedicated, committed, funny, caring expert at Corrections" and a "great friend." "His unfailing good nature would come through in everything he did," he said. Lieutenant Kramer said sheriff's deputies and K-9 units had fanned out Tuesday night across Mr. Clements's neighborhood, parts of which are heavily wooded, without luck. The authorities declined to say what kind of weapon had been used in the attack or how many times Mr. Clements had been shot. The Sheriff's Department said a family member had been inside the home at the time of the shooting, but Lieutenant Kramer declined on Wednesday to identify who it was or what the relative may have seen. Mr. Clements, whom Mr. Hickenlooper appointed to the post in January 2011, oversaw the state's public and private prison system and parole operations. He is survived by a wife and two daughters, the governor said in the Facebook post. On Wednesday, Mr. Hickenlooper signed three gun bills into law. They require background checks for all gun transfers, charge firearms consumers for those background checks and limit magazine capacities to 15 rounds. Mr. Hickenlooper said Mr. Clements had been "supportive but not particularly active" in regard to the measures. Some county sheriffs in the state have publicly vowed not to enforce the measures. Dan Frosch contributed reporting from Denver, and Christine Hauser from New York.

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Affin downgrades UMW to 'reduce' Posted: 19 Mar 2013 07:00 PM PDT [unable to retrieve full-text content]Affin Investment Bank downgraded UMW Holdings Bhd to 'reduce' from 'add', with an unchanged fair value of RM12.40 per share, saying the automotive-to-oil and gas conglomerate is fully valued now and offers less compelling risk-reward. "We continue to like management's drive and handle of the company, and this tactical downgrade is predominantly in reference to valuations as opposed to operational issues," the research house said in a note on Wednesday. Affin said the risk-reward of UMW is less compelling now given potential earnings headwinds as the automotive sector faces intense competition. It said investors have priced in the listing of the oil and gas division with an estimated market capitalisation of RM1.5 billion. "All in, we opine that our street-centric earnings is already embedded with a positive analyst bias and as such, there may be limited scope for potential earnings surprises in 2013," it added. Shares of UMW rose 85.17 per cent over the past one year, while the benchmark stock index climbed 3.18 per cent. The counter remained unchanged at RM13.24 per share, outperforming the benchmark stock index's 0.17 per cent drop.-- Reuters

KL shares open easier on mild selling Posted: 19 Mar 2013 07:09 PM PDT Share prices on Bursa Malaysia opened easier Wednesday on mild selling in selected heavyweights, tracking the losses on Wall Street, dealers said. As at 9.17am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.03 points lower at 1,621.43 after opening 2.51 points lower at 1,622.95. Dealers said renewed concerns on eurozone debt crisis after the Cyprus parliament rejected a bank deposit levy needed to secure European bailout funds were dampening global risk appetite. HwangDBS Vickers Research said for the time being, the selling pressure on Malaysian equities seemed to have eased off. "Still, beyond the short-term relief, downside risk persists on our local bourse with the benchmark FBM KLCI likely to face immediate resistance at 1,635 before resuming its negative trend towards the first support line of 1,615," it said in a research note today. Some news flows that can likely signal current economic condition will be Bank Negara Malaysia's 2012 Annual Report to be released later in the day and the US Federal Reserve meeting outcome. On the chart, the Finance Index rose 0.76 of a point to 15,218.62. The Plantation Index, however, fell 35.16 points to 7,806.28 and the Industrial Index slipped 19.63 points to 2,809.47. The FBM Emas Index eased 21.6 points to 11,104.44, the FBMT100 was 23.09 points lower at 10,940.85 and the FBM Mid 70 Index shed 9.07 points to 12,360.87. However, the FBM Ace Index gained 10.67 points to 3,952.57. Losers beat gainers 85 to 75, with 104 counters unchanged, 1,377 untraded and 24 others were suspended. Turnover stood at 54.027 million shares worth RM50.273 million. Actives, Alam Maritim and Land & General were flat at 93.5 sen and 42 sen, respectively, while Mulpha International gained 1.5 sen to 40 sen. Heavyweights, Maybank was flat at RM9.07, but CIMB Group rose two sen to RM7.13. Sime Darby lost four sen to RM9.11, Axiata Group shed one sen to RM6.31 and Petronas Chemicals eased five sen to RM6.20.-- Bernama

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7 Marines Killed in Nevada Training Exercise - New York Times Posted: 19 Mar 2013 08:45 AM PDT By TIMOTHY WILLIAMS Published: March 19, 2013 Seven Marines were killed and several others were injured in an explosion during a training exercise in western Nevada on Monday night, the military said Tuesday. The blast occurred about 10 p.m. Monday at Hawthorne Army Depot, about 140 miles southeast of Reno, said Capt. Binford Strickland, a Marine Corps spokesman. The Marines were members of the Second Marine Division, an expeditionary ground combat unit based at Camp Lejeune, N.C. The depot, situated on 150,000 acres in the Nevada desert, is one of the sites the used by the military to store conventional ammunition, according to the depot's Web site. "We send our prayers and condolences to the families of Marines involved in this tragic incident. We remain focused on ensuring that they are supported through this difficult time," Maj. Gen. Raymond C. Fox, commanding general of the Second Marine Expeditionary Force, said in a statement. "We mourn their loss, and it is with heavy hearts we remember their courage and sacrifice." Nine Marines were taken to Renown Regional Medical Center in Reno. Of those nine, one later died, while three are in serious condition and five are in fair condition, said Mark Earnest, a hospital spokesman. The injuries include penetrating trauma, fractures and vascular injuries, he said. The military said the cause of the accident was under investigation. On the Senate floor on Tuesday morning, Senator Harry Reid of Nevada, the majority leader, announced news of the accident to his colleagues, saying: "My heart goes out to the families of those who lost their lives. And my sympathies are with their fellow Marines, who are also grieving this loss." Marc Santora contributed reporting from New York.

Francis' New Papal Style: A Comparison with Benedict - TIME Posted: 19 Mar 2013 08:30 AM PDT Alessia Giuliani / CPP / Polaris Pope Francis arrives in Saint Peter's Square for his inaugural mass at the Vatican, on March 19, 2013. Pope Francis began his address during the March 19 ceremony marking his installation to the papacy as he has nearly every other public speech since his election just under a week ago: with a passing reference to his predecessor Benedict XVI. "We are close to him with our prayers, full of affection and gratitude," said Francis. But even if hadn't, the comparisons would be inevitable. At 76, Francis walks with a limp and needs help navigating the stairs outside St. Peter's Basilica. But his presence at the pulpit projects far more strength than what the 85-year-old theologian who came before him was able to muster. In February, Benedict became the first pontiff in 600 years to resign from the papacy, ending a pontificate under which the Vatican was rocked by scandal and internal divisions. Francis, by contrast, in his every public word and repeated gestures of humility seems to offer the promise of renewal of the Church's badly damaged image. "One of the great hopes that everyone has is that this will be the Pope who will get people to like the church again," says Alexander Lucie-Smith, a parish priest in the United Kingdom and a writer for the CatholicHerald. "If he can change the mood music, that will be an incredibly important achievement." (MORE: The Pope and Argentina's President: Friends at Last?) Before the mass began, the Pope had toured St. Peter's square in an open-air jeep for nearly half an hour, waving to the cheering crowds. At one point he dismounted, and walked to bless a disabled man held up by his friends by the barrier. The rain that had poured almost without stop since Francis' election the week before had given way to a bright Roman sun. Unlike in many of his previous public appearances, Pope Francis didn't go off script. But his prepared remarks—delivered as the homily in a mass held before more than 150,000 people—reinforced what has become the central message of his early papacy: the Church must protect the weak. "Certainly, Jesus conferred power upon Peter, but what sort of power was it?" Francis said. The task Christ asked of his disciple was clear: feed my lambs. "Only those who serve with love are able to protect," he concluded. Francis seems less skilled in delivering prepared remarks than speaking off the cuff or leaning forward to offer a joke to the person in front of him. But his words were chosen carefully. In attendance were delegations from 132 countries and religious organizations, including U.S. Vice President Biden; Cristina Kirchner, president of Francis' native Argentina; the German Chancellor Angela Merkel; the Zimbabwean despot Robert Mugabe; Bartholomew I, spiritual leader of the world's Orthodox Christians; and dozens of other dignitaries. "It was a remarkable homily," says Jason Berry, author of Render Unto Rome, a book about about financial impropriety in the Catholic Church.  "He's calling the leaders of the world to a moral agenda in a fashion that we have not seen in a many years. No disrespect to Benedict, but he became so compromised by the sex abuse crisis and by the Vatileaks scandal that his stature as moral statesman on the global stage was compromised." Francis may be on the way to changing the tune in the Catholic Church. The question is whether he will be able to get the rest of the Vatican to follow. Benedict came into the papacy loaded with hopes for reform, only to get bogged down the spreading sex abuse scandal and viciousinfighting within the Vatican. On March 19, the morning before Francis spoke, the Washington Post published an article claiming that as an Argentine archbishop Francis may have moved too slowly to stop priests under his authority from abusing children. It was a reminder of the challenges the new Pope will have to overcome if he is going to succeed. "The Pope cannot be a champion of human rights and an advocate for the world's poor if he is continuously trailed and followed by the sexual abuse crisis," says Berry. It was only appropriate, that Francis ended his homily with another one of his common refrains. "Pray for me," he said. PHOTOS: Catholics in Latin America Rejoice Pope Francis

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Lynas' shares jump after Malaysian court win Posted: 18 Mar 2013 07:19 PM PDT SYDNEY: Shares in Australia's Lynas Corp jumped as much as 5.1 per cent on Tuesday after the company said a Malaysian court had dismissed a challenge by protesters against its long-delayed rare earth processing plant. The $800 million rare earth plant - the world's biggest outside China - finally began production in November after lengthy environmental and safety disputes with local residents and the Save Malaysia Stop Lynas (SMSL) protest group since construction began two years ago. Lynas said the Federal Court had dismissed an appeal by SMSL to seek a judicial review of the decision to grant it a temporary operating licence. "SMSL has now exhausted all avenues of appeal in the Malaysian Courts with respect to this challenge," Lynas said in a statement late on Monday. The plant in Kuantan is considered important to breaking China's grip on the processing of rare earths, which are used in products ranging from smartphones to hybrid cars. Lynas shares rose to a high of A$0.615 and last traded up 4.3 per cent at A$0.61, half the level it was a year ago.-- Bernama

KL shares rebound in early trade Posted: 18 Mar 2013 06:59 PM PDT Share prices on Bursa Malaysia rebounded from its recent losses to open higher Tuesday on renewed buying interest, dealers said. As at 9.19am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.94 of a point better at 1,622.3 after opening seven points higher at 1,621.43. HwangDBS Vickers Research said local sentiment would still be clouded by prevailing weak external vibes. "Last night, key US equity indices lost between 0.4 per cent and 0.6 per cent due to knock-on effects from Cyprus' proposal to tax bank depositors to boost the government's coffers. "As such, the benchmark FBM KLCI, which hit a low of 1,613.94 before recovering to close at 1,621.36 yesterday, could remain under pressures today," it said in a note today. The research house expected the key FBM KLCI to possibly retreat towards the immediate support line of 1,615. HwangDBS noted stocks that are expected to come under the spotlight today included WCT Bhd, which has bagged a RM315 million contract to build commercial buildings in Putrajaya. It also included oil and gas plays like Alam Maritim Resources Bhd and Perdana Petroleum Bhd, amid media reports saying that Petronas was set to award as many as 34 offshore support vessel contracts valued at an estimated RM3 billion over the next few weeks. On the chart, the Finance Index chalked up 15.09 points to 15,160.16. The Plantation Index, however, shed 0.69 of a point to 7,815.02 and the Industrial Index slipped 4.68 points to 2,812.04. The FBM Emas Index earned 10.8 points to 11,104.35, the FBM Ace Index gained 10.69 points to 3,938.44, the FBMT100 was 10.32 points higher at 10,944.7 and the FBM Mid 70 Index increased 28.23 points to 12,356.75. Gainers beat losers 96 to 60, with 127 counters unchanged, 1,357 untraded and 17 others were suspended. Turnover stood at 38.444 million shares worth RM36.705 million. Actives, Pasukhas Group and Fast Track Solution inched up half-a-sen each to 16 sen and nine sen, respectively, and Tebrau Teguh added three sen to RM1.24. Heavyweights, Maybank rose two sen to RM9.06 while Petronas Chemicals and Maxis were flat at RM6.28 and RM6.50, respectively. However, Sime Darby lost four sen to RM9.12, Axiata Group was one sen lower at RM6.30 and CIMB Group eased two sen to RM7.04.-- Bernama

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Resistance in Cyprus Grows to Europe's Bailout Plan - New York Times Posted: 18 Mar 2013 12:19 PM PDT By LIZ ALDERMAN Published: March 18, 2013 NICOSIA, Cyprus — Leaders in Cyprus and Brussels scrambled Monday to contain the fallout from an unprecedented effort to force ordinary bank depositors in this crisis-hit nation to pay for part of an international bailout, as stock markets faltered on concerns about the wider implications for Europe's long-running debt crisis. President Nicos Anastasiades was trying to compel policy makers in Brussels to soften demands for a tax to be assessed on Cypriot bank deposits, saying European Union leaders used "blackmail" to get him to agree to those conditions early Saturday in order to receive a bailout package worth 10 billion euros, or $13 billion. Cyprus, whose banking system is verging on collapse, is now the fifth nation in the 17-member euro union to seek financial assistance since the crisis broke out three years ago. As anger in this country swelled against the measure, Mr. Anastasiades delayed an emergency parliamentary vote on the bailout plan until Tuesday, the second step in as many days. Faced with a lack of support from lawmakers, the vote could be delayed until as late as Friday. The government also said it would keep Cypriot banks shuttered until at least Wednesday, beyond a bank holiday that was supposed to end Monday, a move aimed at staving off a possible bank run. Cyprus's banking association issued a statement calling on people to remain "calm," saying it was ready to implement whatever measures were needed to protect the stability of the banking sector. The association said it would instruct banks to load automated teller machines with cash while banks remained closed. Financial markets stuttered on the news, with Asian stocks suffering the most, closing down about 2 percent. European market indexes were off about 1 percent by the end of the session, and Wall Street shares were less than 0.2 percent lower in afternoon trading. For the first time since the onset of the euro zone sovereign debt crisis and the bailouts of Greece, Portugal and Ireland, ordinary depositors — including those with insured accounts — were being called on to bear part of the cost, €5.8 billion. The previous bailouts have been financed by taxpayers, and the new direction raised fears that depositors in Spain or Italy, two countries that have struggled economically of late, might also take flight. A crowd of protesters gathered in front of the presidential palace, shouting angrily at Mr. Anastasiades and inveighing against Germany and European leaders as he entered the building to meet with his cabinet. "Merkel, U stole our life savings," read one banner tied to a bus stop. "EU, who is next, Spain or Italy?" read another. Miguel Arias Cañete, Spain's agriculture minister, told journalists in Brussels on the sidelines of a European Union meeting on Monday that he saw no risk of contagion. Spain's banking system had undergone "a very rigorous clean-up," the minister said, and were now in a "magnificent situation" following their bailout last year. The finance ministers from the euro zone countries were to take up the Cyprus issue on a conference call later Monday. Jeroen Dijsselbloem, the president of the group, had declined Saturday to rule out taxes on depositors in countries beyond Cyprus, although he said such a measure was not being actively considered. A key question for the finance ministers was expected to be whether any revised formula for the tax on deposits could still deliver the 5.8 billion euros agreed to in the bailout deal. The plan, a so-called bail-in, also would wipe out 1.4 billion euros held by junior bondholders in Cypriot banks. Only senior bondholders, who have paid a premium to be first in line for repayment of their investments, would be fully protected. Joerg Asmussen, a member of the European Central Bank governing council, suggested that creditors may not object to a revision of the bailout terms. 1 2 Next Page » This article has been revised to reflect the following correction: Correction: March 18, 2013 An earlier version of this article incorrectly reported the days banks in Cyprus would remain closed. The central bank said they will stay shut through Wednesday.

RNC 'Autopsy' Calls for Outreach to... - ABC News Posted: 18 Mar 2013 12:58 PM PDT In what they called the "most comprehensive post-election review" ever made of an electoral loss, the Republican National Committee and a group of project co-chairs unveiled a report today saying that they need to open their playbook and put their "cards on the table face up" in order to win presidential elections in the future. While unveiling the 100-page report at the National Press Club today, RNC Chairman Reince Priebus said he wanted the report, or autopsy, to be "honest" and "raw," stressing the message of inclusion to Americans who might not be on board with all the party's policies. "Our message was weak; our ground game was insufficient; we weren't inclusive; we were behind in both data and digital; our primary and debate process needed improvement," Priebus said of Mitt Romney and the GOP's 2012 loss. "There's no one solution. There's a long list of them." Read more about GOP Chair Reince Priebus's plans for the Republican Party. The report, called the "Growth and Opportunity Project," lays out an extensive plan the RNC believes will lead the party to victory with an extensive outreach to women, African-American, Asian, Hispanic and gay voters. Among the plans: hiring paid outreach staffers across the country in a $10 million push that begins right away; backing "comprehensive immigration reform"; abbreviating the presidential primary process with fewer debates, specifically saying the party would like at least half the 20 there were during the 2012 cycle; and moving the convention to June or July, as well as improving the data and digital effort. Priebus noted that the party's policies are fundamentally sound but require a softer tone and broader outreach, include a stronger push for African-American, Latino, Asian, women and gay voters. "To be clear, our principles our sound, our principles are not old rusty thoughts in some book," Priebus said, but the "report notes the way we communicate our principles isn't resonating widely enough." Priebus added: "I think our policies are sound, but I think in many ways the way we communicate can be a real problem." The report also specifically states that there needs to be more inclusion. "We need to campaign among Hispanic, black, Asian, and gay Americans and demonstrate we care about them, too. We must recruit more candidates who come from minority communities. But it is not just tone that counts. Policy always matters." Sally Bradshaw, a Florida GOP strategist and one of the project's co-chairs, said the party has been "continually marginalizing itself and unless changes are made it will be increasingly difficult for Republicans to win another presidential election in the near future." "Public perception of our party is at record lows," Bradshaw said. "Young voters are increasingly rolling their eyes at what the party represents and many minorities think Republicans don't like them or don't want them in our country. When someone rolls their eyes at us they aren't likely to open their ears to us." Bradshaw added that the GOP "needs to stop talking to itself" and needs to open the tent in order to win presidential elections in the future. "We have become expert at how to provide ideological information to like-minded people but ,devastatingly, we have lost the ability to be persuasive with or welcoming to those who don't agree with us on every issue," Bradshaw said, noting they need to be "inviting and inspiring."

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Steubenville Rape Trial Verdict: Judge finds both teens guilty of raping 16-year ... - CBS News Posted: 17 Mar 2013 08:38 AM PDT Ma'Lik Richmond, 16, weeps after being found guilty on March 17, 2013, of raping a 16-year-old fellow student in Steubenville, Ohio. / CBS News (CBS News) - Two former star high school football players broke down and openly wept on Sunday morning in court after being found guilty of raping a 16-year-old girl during a night of partying last August. Pictures: Steubenville Rape Trial Watch: Judge reads guilty verdict Watch: Guilty teens apologize to court Ma'Lik Richmond, 16, and Trent Mays, 17, had been charged with digitally penetrating the intoxicated girl twice on the night of August 11, 2012. Richmond and Mays were found delinquent, which is the juvenile equivalent of being found guilty. Mays was also convicted of a second felony charge of using a minor in nudity oriented materials for taking and distributing photographs of the victim in states of undress. When the verdict was read both defendants began sobbing.  "I'm aware this is the first time they have been in trouble with the law, but these are serious offenses," said Judge Thomas Lipps, who decided the case without a jury. "If they were convicted in an adult court of these charges they would be spending many years in an adult prison." Judge Lipps sentenced Richmond to a minimum of one year incarceration in a juvenile facility. Mays was sentenced to a minimum of one year incarceration in a juvenile facility for the rape, and one year for the second felony, to be served consecutively. Lipps called Mays' crimes "more egregious" than Richmond's. Both teens were facing a maximum sentence of incarceration until age 21. After announcing the verdict, Judge Lipps allowed the defendants and their families time to speak. Mays rose and said "no pictures should have been sent around, let along even taken." Richmond, crying loudly, said "I had no intention to do anything like that." Ma'Lik's father, Nathaniel Richmond, stood up and said that he had been an alcoholic in the past and was aware of the dangers associated with heavy drinking. Richmond, who did not raise his son, spoke to the victim's family, saying, "I'm sorry for what you all had to go through. I hope somewhere in your hearts that you can forgive Trent and Ma'Lik for the pain they have caused your daughter." Mays father said, "We're sorry for putting everybody through this...Ma'Lik's family, the community, the school, everybody else." Over four long days of testimony, multiple teen witnesses testified that the victim was highly intoxicated, with various witnesses recalling her slurring her speech, stumbling and vomiting. More than one said they saw one or both of the defendants use their fingers to penetrate the girl but didn't recognize that as rape. The defense attempted to argue that, although she was drunk, she was capable of making decisions and consenting to sexual contact. On Saturday, the girl at the center of the case testified for more than an hour, saying she did not recall the night in question and only became aware of what had happened to her when she started seeing pictures of herself and postings about the night on social media, reports the Cleveland Plain Dealer. Complete coverage of the Steubenville Rape Case on Crimesider

Indian Police Arrest 5 Over Swiss Tourist's Rape - Voice of America Posted: 17 Mar 2013 08:27 AM PDT Indian police have arrested five men who confessed to gang-raping a Swiss tourist in central Madya Pradesh state. The 39-year-old woman was on a cycling trip with her husband when they were attacked by a group of men at their forest campsite near a road after visiting the temple town of Orchha. Deputy police inspector D.K. Arya said the men beat the husband and raped the woman in front of him. They stole a laptop, 10,000 rupees and a mobile phone from the couple. Arya said six or seven men attacked the Swiss couple in their tent and at least four of them raped the woman, who was later treated at a local hospital and released. The Swiss ambassador to India, Linus von Castelmur, said late Saturday that he had spoken with the couple and demanded a swift probe of the incident by Indian authorities. The woman and her husband were on their way to Agra, the home of the Taj Mahal. The journey was part of a three-month cycling tour from Mumbai to New Delhi. The attack is the latest example of violent sexual assaults on women in India. It comes three months after outrage and nationwide protests erupted following the fatal gang-rape of a 23-year-old student by five men and a juvenile on a bus in New Delhi last December. That attack prompted demands that the government do more to protect women. According to India's National Crime Records Bureau, one woman is raped every 20 minutes in India. But police say many incidents go unreported due to the stigma attached to such crimes.

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