Jumaat, 6 September 2013

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Obama: Most of G20 agrees Assad used chemical arms, but split over military ... - Jerusalem Post

Posted: 06 Sep 2013 08:35 AM PDT

President Barack Obama said on Friday that most leaders of the G20 countries agree that Syrian President Bashar Assad is responsible for using poison gas against civilians as the US leader tried to rally support at home and abroad for a military strike.

Obama said he planned to speak to the American public about Syria on Tuesday as Congress considers his request for limited military action in Syria.

Speaking to reporters at an international diplomatic summit, Obama said the leaders of the world's largest economies agreed that chemical weapons were used in Syria and that the international ban chemical weapons needs to be maintained.

However, he said there was disagreement about whether force could be used in Syria without going through the United Nations. The United States has been unable to win UN Security Council approval for military action against Syria because of the opposition of veto-wielding Russia.

"The majority of the room is comfortable with our conclusion that Assad, the Assad government, was responsible for their use," he said at a news conference, adding that this is disputed by Russian President Vladimir Putin.

A number of countries believed that any military force needed to be decided at U.N. Security Council, a view he said he does not share.

"Given Security Council paralysis on this issue, if we are serious about upholding a ban on chemical weapons use then an international response is required, and that will not come through Security Council action," he said.

Obama has been trying to rally support internationally and domestically for a limited military response to the chemical weapons attack on Syrian civilians Aug. 21.

Obama defied pressure to abandon plans for air strikes against Syria at the summit on Friday which left world leaders divided on the conflict but united behind a call to spur economic growth.

Leaders of the G20, who account for 90 percent of the world economy and two thirds of its population, agreed that the economy was not out of crisis yet but was on the mend.

But Obama and Putin remained far apart on Syria after a 20-minute one-on-one talk on the sidelines of the summit on Friday, following a tense group discussion on the civil war over dinner late on Thursday.

"There has been a long discussion with a clear split in the group," a G20 source said after the dinner in a Tsarist-era palace in Russia's former imperial capital, St. Petersburg.

Putin said he and Obama stood their ground and neither blinked but at least there was dialogue.

"We hear one another, and understand the arguments but we don't agree. I don't agree with his arguments, he doesn't agree with mine. But we hear them, try to analyze them," he said.

China's Xi Jinping also tried, unsuccessfully, to dissuade Obama from military action.

"A political solution is the only right way out for the Syrian crisis, and a military strike cannot solve the problem from the root," Xinhua news agency quoted Xi as saying. "We expect certain countries to have a second thought before action."

Washington says troops loyal to Assad carried out a poison gas attack which killed over 1,400 people in rebel-held suburbs of Damascus on Aug. 21. Putin said the attack was carried out by the rebels in order to provoke outside military intervention against Assad.

Unable to win United Nations Security Council backing for military action because of the opposition by veto-wielding Russia, Obama is seeking the backing of the US Congress.

He stuck to that position in St. Petersburg, despite a warning by UN Secretary General Ban Ki-moon about the need to find a political settlement to end the war.

"Every day that we lose is a day when scores of innocent civilians die," Ban said.

Ben Rhodes, Obama's deputy national security adviser, told reporters the president had "once again underscored the very high confidence that we have" of Assad's role in the attack.

Obama also told the G20 leaders that it was important to uphold international norms against chemical weapons and depicted the Security Council as paralyzed.

Participants at the dinner said the tension between Putin and Obama was palpable but that they seemed at pains to avoid an escalation. Obama said credit was due to Putin for facilitating the long discussion of the Syrian crisis on Thursday night.

Obama defended his position at the talks with Xi, whose country has veto powers on the Security Council.

Without referring to Syria, Obama said before meeting Xi: "Although there will continue to be some significant disagreements and sources of tension, I am confident that they can be managed."

He appeared isolated in St. Petersburg, despite France's support for military action, and the presence of allies such as Turkey and Saudi Arabia. But his actions suggested that winning the approval of Congress is his most important short-term goal.

Obama said most G20 leaders agreed that Assad launched the August 21 chemical weapons attack, but were divided over whether to use force in Syria without UN Security Council support.

Washington's ambassador to the United Nations, Samantha Power, made clear on Thursday that the United States had given up trying to work with the Council on the issue, and accused Russia of holding it hostage.

The dispute over Syria has deepened strains in US-Russian ties, already difficult because of differences over human rights and Moscow's hosting of Edward Snowden, a spy agency contractor who revealed details of US surveillance programs. Putin said Obama had not requested Snowden's extradition on Friday, adding that it would be impossible anyway.

Obama planned to meet rights activists, including gay rights campaigners, to show support for civil society in Russia, where critics say Putin has clamped down on dissent in his third term.

But some invitees have declined to attend, citing what they said were repeated changes in the timing of the meeting. One added her voice to warnings against a military strike on Syria.

US employers add 169K jobs; rate falls to 7.3 pct. - Boston.com

Posted: 06 Sep 2013 09:16 AM PDT

WASHINGTON (AP) — The U.S. economy is producing jobs at a subpar pace — a trend the Federal Reserve will weigh in deciding this month whether to slow its bond buying and, if so, by how much.

Employers added 169,000 jobs in August but many fewer in June and July than previously thought, the Labor Department said Friday. Combined, June, July and August amounted to the weakest three-month stretch of job growth in a year.

The unemployment rate dropped to 7.3 percent, the lowest in nearly five years. But it fell because more Americans stopped looking for work and were no longer counted as unemployed. The proportion of Americans working or looking for work reached its lowest point in 35 years.

The jobs picture is sure to weigh heavily when the Fed meets Sept. 17-18 to discuss whether to scale back its $85 billion a month in Treasury and mortgage bond purchases. Those purchases have helped keep home-loan and other borrowing rates ultra-low to try to encourage consumers and businesses to borrow and spend more.

David Jones, chief economist at DMJ Advisors, said he still thinks the Fed will begin slowing its bond buying later this month. But he suspects the August data and the reduced job totals for June and July will lead the Fed to trim more gradually than it would have otherwise: The Fed could start reducing its monthly purchases by $10 billion rather than $20 billion.

Jones said he expects reductions of $10 billion between now and mid-2014. At that point, Chairman Ben Bernanke has said the Fed expects the bond buying could likely end.

The revised job growth for June and July shrank the previously estimated gain for those months by a combined 74,000. July's gain is now estimated at 104,000 — the fewest in more than a year and down from the previous estimate of 162,000. June's was revised to 172,000 from 188,000.

In the past three months, employers have added an average of just 148,000 jobs. The average monthly gain for 2013 so far is 180,000, almost identical to the 183,000 average for 2012.

Stock prices shifted between gains and losses in morning trading as investors weighed the job report's impact on the Fed and tensions over the prospect of U.S. military action against Syria. The Dow Jones industrial average rose about 30 points.

The yield on the 10-year Treasury note fell to 2.92 percent, from 2.95 percent before the jobs report was released at 8:30 a.m. Eastern time. Investors may think the report makes it less likely the Fed will significantly slow its bond purchases.

One possible concern for the Fed is that most of the hiring in August was in lower-paying industries such as retail, restaurants and bars. This continues a trend that emerged earlier this year.

Retailers added 44,000 jobs in August. Hotels, restaurants and bars added 27,000. Temp hiring rose by 13,000.

In higher-paying fields, the report was mixed.

Manufacturers added 14,000, the first gain after five months of declines. Government, which has been a drag on job growth since the recession ended more than four years ago, gained 17,000. It was the biggest such increase in nearly a year. The increase was all in local education departments. Federal employment was unchanged, and state government lost 3,000 jobs.

Auto manufacturers added 19,000 jobs. Americans are buying more cars than at any time since the recession began in December 2007. Some of the jobs also likely reflected workers who were rehired last month after being temporarily laid off in July, when factories switched to new models.

But construction jobs were unchanged in August. And the information industry, which includes high-tech workers, broadcasting and film production, cut 18,000 jobs. The biggest losses were in the film industry.

The report contained some other positive signs: Average hourly earnings picked up, rising 5 cents to $24.05. Hourly pay has risen 2.2 percent in the past 12 months. That's slightly ahead of the 2 percent inflation rate over the same period.

The average hourly work week ticked up to 34.5 from 34.4, a sign that companies needed more labor. That can lead to larger paychecks.

The modest jobs figures contrast with other recent data that suggested that the economy could be picking up. For example, reports from the Institute for Supply Management, a trade group of purchasing managers, showed that manufacturers expanded at the fastest pace in more than two years last month.

And service firms grew at the quickest pace in more than eight years, the ISM found.

___

AP Economics Writers Paul Wiseman and Martin Crutsinger contributed to this report.

© Copyright 2013 Globe Newspaper Company.

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Khamis, 5 September 2013

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KL shares higher on mild buying interest

Posted: 05 Sep 2013 06:53 PM PDT

Share prices on Bursa Malaysia were traded slightly higher in the early session Friday on mild buying interest after
yesterday's gains, dealers said.

At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.41 of a point to 1,721.38, after opening one point weaker at 1,719.97.

HwangDBS Vickers Research said the local bourse could close the week with a weak performance today on the back of slow trading interest.

"From a technical perspective, the benchmark FBM KLCI may back off slightly from its immediate resistance barrier of 1,720," it said in a research note today.


The research house said the news flow that was of added interest today would be the external trade data for July due for release around noon.

"Following growing concerns over Malaysia's deteriorating current account position and falling Ringgit, investors will be keen to know the country's latest economic situation," HwangDBS said.

On the scoreboard, the Finance Index rose 5.72 points to 16,128.5, but the Plantation Index slipped 2.15 points to 8,117.21 and the Industrial Index added 2.15 points to 2,904.55.

The FBM Emas Index gained 10.27 points to 11,960.02, the FBM100 Index advanced 8.84 points to 11,717.63, the FBM 70 Index surged 35.27 points to 13,652.44 and the FBM Ace rose 4.81 points to 4,955.75.

Gainers led losers 78 to 48, while 108 counters were unchanged, 1,330 untraded and 13 were suspended.

Turnover stood at 48.45 million shares worth RM24.38 million.

Among actives, ETI Tech Corp eased half a sen to 6.5 sen, Ho Wah Genting earned one sen to 22 sen while Luster Industries and Daya Materials were flat at nine sen and 31.5 sen, respectively.

Of the heavyweights, Maybank shed three sen to RM9.85, Sime Darby was flat at RM9.41 while Axiata and CIMB gained one sen each to RM6.76 and RM6.55, respectively.-- Bernama

Ringgit traded marginally lower against US$

Posted: 05 Sep 2013 07:05 PM PDT

The ringgit opened marginally lower against the US dollar in early trading today on lack of buying support amid the strong dollar in the global market, currency dealers said.

The ringgit was quoted at 3.3115/3145 to a US dollar from yesterday's close at 3.3030/3070.

Meanwhile, the ringgit was also traded lower against all other major currencies.

The local unit was little changed against the Singapore dollar at
2.5887/5915 from 2.5835/5886 yesterday but was weaker against the yen at 3.3158/3198 from 3.3066/3120 on Thursday.


Against the British pound, the ringgit fell to 5.1676/1726 from 5.1580/1655 yesterday and weakened against the euro to 4.3463/3509 from 4.3553/3613 on Thursday.-- Bernama
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Pressure mounts on Obama over Syria at G20 summit - Reuters

Posted: 05 Sep 2013 08:07 AM PDT

Russia's President Vladimir Putin (L) welcomes U.S. President Barack Obama before the first working session of the G20 Summit in Constantine Palace in Strelna near St. Petersburg, September 5, 2013. REUTERS/Grigory Dukor

ST. PETERSBURG, Russia | Thu Sep 5, 2013 11:50am EDT

(Reuters) - U.S. President Barack Obama faced growing pressure from world leaders not to launch military strikes in Syria on Thursday at a summit on the global economy that was eclipsed by the conflict.

The Group of 20 (G20) developed and developing economies met in St. Petersburg to try forge a united front on economic growth, trade, banking transparency and fighting tax evasion.

But the club that accounts for two thirds of the world's population and 90 percent of its output is divided over issues ranging from the U.S. Federal Reserve's decision to end its program of stimulus for the economy to the civil war in Syria.

Russian President Vladimir Putin wants to use the meeting in a seafront tsarist palace to talk Obama out of military action against Syrian President Bashar al-Assad over a chemical weapons attack which Washington blames on government forces.

Obama wore a stiff smile as he approached Putin on arrival at the summit and grasped his hand. Putin also maintained a businesslike expression. It was only when they turned to pose for the cameras that Obama broke into a broader grin.

The first round at the summit went to Putin as China, the European Union and Pope Francis - in a letter for G20 leaders - aligned themselves more closely with him than with Obama over the possibility and legitimacy of armed intervention.

"Military action would have a negative impact on the global economy, especially on the oil price - it will cause a hike in the oil price," Chinese Vice Finance Minister Zhu Guangyao told a briefing.

The Pope urged the leaders to "lay aside the futile pursuit of a military solution". He has also invited the 1.2 billion Roman Catholics and people of other faiths to join him in a day of prayer and fasting on Saturday to end the civil war.

European Union leaders, usually strong allies of the United States, described the August 21 attack near Damascus, which killed an estimated 1,400 people, as "abhorrent" but added: "There is no military solution to the Syrian conflict."

Putin, Assad's most important ally, was isolated on Syria at a Group of Eight meeting in June, the last big meeting of world powers. He could now turn the tables on Obama, who recently likened him to a "bored kid in the back of the classroom."

Only France, which is preparing to join U.S. military action, rallied behind Obama.

"We are convinced that if there is no punishment for Mr. Assad, there will be no negotiation," French Foreign Minister Laurent Fabius said before leaving for St. Petersburg.

With backing by Beijing and Moscow unlikely at the U.N. Security Council, where both have veto powers, Obama is seeking the approval of the U.S. Congress.

Putin says rebel forces may have carried out the poison gas attack and that any military strike without Security Council approval would violate international law, a view which is now increasingly openly being supported by others.

He has no one-on-one talks scheduled with Obama but hopes to discuss Syria at a dinner with all the leaders. United Nations Secretary General Ban Ki-moon and U.N. special envoy Lakhdar Brahimi were also in St. Petersburg, hoping to secure agreement on holding an international peace conference on Syria.

Putin's press secretary, Dmitry Peskov, portrayed the "camp of supporters of a strike on Syria" as divided and said: "It is impossible to say that very many states support the idea of a military operation."

One national leader attending the summit said there appeared to be little chance of a rapprochement between Putin and Obama, whose relations have soured following Russia's offer of asylum to former U.S. spy agency contractor Edward Snowden.

Foreign ministers from the key states in the G20 - which includes all five permanent U.N. Security Council members - will also discuss Syria on the sidelines of the meeting.

Any G20 decision on Syria would not be binding but Putin would like to see a consensus to avert military action in what would be a significant - but unlikely - personal triumph.

LOSS OF HARMONY

The G20 achieved unprecedented cooperation between developed and emerging nations to stave off economic collapse during the 2009 financial crisis, but the harmony has now gone.

There are likely to be some agreements - including on measures to fight tax evasion by multinational companies - at the summit in the spectacular, 18th-century Peterhof palace complex, built on the orders of Tsar Peter the Great.

An initiative will be presented to leaders on refining regulation of the $630-trillion global market for financial derivatives to prevent a possible markets blow-up.

Steps to give the so-called 'shadow banking' sector until 2015 to comply with new global rules will also be discussed.

But consensus is proving hard to achieve among developed economies as the United States takes aggressive action to spur demand and Europe moves more slowly to let go of austerity.

The emerging economies in the BRICS group - Brazil, Russia, India, China and South Africa - urged the G20 to boost global demand and ensure that any changes in monetary policy are well flagged to minimize any disruptive "spillovers" that may result.

The appeal reflected the concerns among developing nations over the prospect that the Fed will scale back its ultra-loose monetary policy, and a view that Europe is not doing enough to promote a demand-driven recovery.

The BRICS also agreed to contribute $100 billion to a joint currency reserve pool. China will commit $41 billion; Brazil, India and Russia $18 billion each; and South Africa $5 billion.

Russia and China also joined forces in warning about the potential impact of the Fed ending its bond-buying program to stimulate the economy.

(Reporting by Gernot Heller, Luke Baker, Tetsushi Kajimoto, Lidia Kelly, Katya Golubkova, Steve Holland, Douglas Busvine, Steve Gutterman, Alessandra Prentice and Denis Pinchuk; Writing by Timothy Heritage; Editing by Alastair Macdonald and Anna Willard)

Iran's new president wishes Jews a "blessed Rosh Hashanah" - CBS News

Posted: 05 Sep 2013 07:45 AM PDT

During his stormy eight-year tenure, Iran's former president Mahmoud Ahmadinejad sparked international outrage for numerous inflammatory comments. Among them: calling for Israel to be "wiped off the map" and suggesting the Holocaust was a myth.

His newly inaugurated successor apparently has a different view. On Rosh Hashana, the Jewish New Year, Hasan Rouhani took to Twitter to send the following message:

The tweet did not go unnoticed by Christine Pelosi (the daughter of House Minority Leader Nancy Pelosi), who replied on Twitter: "Thanks. The New Year would be even sweeter if you would end Iran's Holocaust denial, sir."

That tweet sparked a reply from Iran's foreign minister Mohammad Javad Zarif:

Pelosi took the exchange to heart, tweeting: "It certainly seemed from his tweet that a new day has dawned in Iran. #hope?"

The twitter diplomacy comes on the same day that Iran's new president approved a major policy change. Rouhani confirmed Thursday that Zarif will be Iran's top nuclear negotiator with world powers. Previously, Iran's Supreme National Security Council was in charge of nuclear talks with the U.S. and other nations.

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Rabu, 4 September 2013

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US stocks climb on robust auto sales

Posted: 04 Sep 2013 04:33 PM PDT

NEW YORK: Wall Street stocks jumped on Wednesday after surging US auto sales pointed to robustness in the manufacturing sector.

The Dow Jones Industrial Average rose 96.91 points (0.65 percent) to 14,930.87. The broad-based S&P 500 added 13.31 points (0.81 percent) at 1,653.08, while the tech-rich Nasdaq Composite Index increased 36.43 points (1.01 percent) to 3,649.04.

Investors were cheered by August double-digit auto sales gains from GM, Toyota, Ford and Chrysler.

"We're seeing some strength in the manufacturing sector," said Alan Skrainka, chief investment officer for Cornerstone Wealth Management.

A positive regional economies survey from the Federal Reserve described US economic growth as still "modest to moderate" since July.

The report showed consumer spending and manufacturing has risen in most of the 12 regions in the US and said job creation was steady or improving.

The market gains also came despite continued edginess in the markets over the prospects of a US military strike on Syria.

On Wednesday, President Obama reiterated the need for a global response on Syria as a US Senate panel approved a resolution authorising US military intervention.

Ford advanced 3.5 percent after reporting its best retail sales month since August 2006. Total sales increased 12 percent from August 2012.

General Motors surged 5.0 percent after retail sales jumped 22 percent year-on-year, notching the best performance since September 2008.

Technology giant Apple gained 2.1 percent after it set September 10 for an event that is expected to be the unveiling of its new iPhone line, which could include a range of colours and a low-priced version.

According to reports Apple also plans a media event in China on September 11.

Pipeline and energy infrastructure company Kinder Morgan fell 6.0 percent after Jefferies initiated coverage with a "hold" recommendation. Jefferies expressed concern that high capital spending for maintenance could crimp dividend payouts.

LinkedIn shed 2.9 percent after announcing it planned a public offering of about $1 billion worth of shares. The funds will go to general corporate purposes and international expansion.

Discount retailer Dollar General gained 4.7 percent after earnings bested expectations by three cents per share at 77 cents. Same-store sales growth reached 5.1 percent in the quarter. -- AFP

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Officials press lawmakers to approve Syria strike; Obama invokes Congress's ... - Washington Post

Posted: 04 Sep 2013 08:40 AM PDT

After classified, closed-doors hearings Wednesday morning on Capitol Hill, members of the Senate Foreign Relations Committee were scheduled to debate a new draft of a resolution on the use of force in Syria in response to a reported chemical weapons attack last month that killed more than 1,400 people.

The resolution would permit up to 90 days of military action against the Syrian government and bar the deployment of U.S. combat troops in Syria, while permitting the deployment of a small rescue mission in the event of an emergency, according to a copy of the resolution obtained late Tuesday from Senate aides. The White House also would be required within 30 days of enactment of the resolution to send lawmakers a plan for a diplomatic solution to end the violence in Syria.

In a news conference in Stockholm, the first leg of a trip that will take him to Russia for a Group of 20 summit, Obama made the case for a U.S. strike on Syria "limited in time and in scope" to degrade the military capabilities of Syrian President Bashar al-Assad and deter him from resorting to chemical weapons again in his 2 1/2-year war with rebels.

"I didn't set a red line," Obama said in response to a question. "The world set a red line" when it declared chemical weapons "abhorrent" and passed a treaty forbidding them. "Congress set a red line when it ratified that treaty."

Obama added: "My credibility is not on the line. The international community's credibility is on the line. And America and Congress's credibility is on the line because we give lip service to the notion that these international norms are important."

Appearing before reporters with Swedish Prime Minister Fredrik Reinfeldt, Obama said: "I do think that we have to act. Because if we don't, we are effectively saying that even though we may condemn it and issue resolutions and so forth and so on, somebody who is not shamed by resolutions can continue to act with impunity. And those international norms begin to erode. And other despots and authoritarian regimes can . . . say, that's something we can get away with. And that then calls into question other international norms and laws of war, and whether those are going to be enforced."

Asked by a Swedish reporter about "the moral force of nonviolence" and the dilemma of being a Nobel Peace Prize laureate while preparing to attack Syria, Obama reiterated that he was "certainly unworthy" of the prize compared to previous recipients and asked "what are our responsibilities" in confronting a world "full of violence and occasional evil." He argued that when 1,400 innocent civilians, including 400 children, are gassed to death in a war that has already claimed tens of thousands of lives, "the moral thing to do is not to stand by and do nothing."

Rosh Hashanah begins at sundown - Philly.com

Posted: 04 Sep 2013 07:25 AM PDT

Rosh Hashanah, known as the Jewish New Year, begins tonight, marking the start of Judaism's most sacred period.

Although it is known as a New Year celebration, Rosh Hashanah should not to be confused with the frivolity of the secular styled celebration marked each year on Jan. 1. 

Rather, Rosh Hashanah marks the beginning of the 10-day period known as the Days of Awe that ends on Yom Kippur, or the Day of Atonement.  Together, Rosh Hashanah and Yom Kippur are known as High Holy Days. Jews view the time as one of reflection and as a period to make amends.

Rosh Hashanah literally means "head of the year" and is celebrated on the first day of Tishrei - the seventh month in the Hebrew calendar.  It can fall anywhere from September to October. 

The holiday starts at sundown today (7:24 p.m.) and will mark the 5,774 year in the Jewish calendar.  Yom Kippur falls on Sept. 14.

The celebration is based on a passage in Leviticus, which calls for it to be marked by the blasts of horns.  As a result, a shofar, or ram's horn, is traditionally sounded in synagogue on Rosh Hashanah. Work is prohibited on the holiday.

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Selasa, 3 September 2013

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KL shares higher in early trade

Posted: 03 Sep 2013 07:22 PM PDT

Share prices on Bursa Malaysia extended yesterday's gains to trade higher in the early session Wednesday on continued
buying support, dealers said.

At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.26 of a point to 1,724.47, after opening 1.34 points better at 1,725.55.

HwangDBS Vickers Research said the local bourse may lose momentum today after struggling to build on its recovery pace recently.

"On the chart, the benchmark index could move with a downward bias and test the immediate support line of 1,720 ahead," it said in a research note.


Meanwhile, Wall Street was marginally up last night. Major US stock indices rose between 0.2 and 0.6 per cent as investors cheered on better economic vibes and ignored possible military fallout from the ongoing political conflicts in Syria, it said.

On the scoreboard, the Finance Index fell 4.14 points to 16,154.61, but the Plantation Index added 2.47 points to 8,163.4 and the Industrial Index rose 8.88 points to 2,897.71.

The FBM Emas Index gained three points to 11,958.9, the FBM100 Index rose 2.68 points to 11,720.76, the FBM 70 Index went up 6.75 points to 13,582.03 and the FBM Ace was 15.06 points better at 4,922.23.

Gainers led losers 94 to 72, while 121 counters were unchanged, 1,278 untraded and 13 were suspended.

Turnover stood at 93.68 million shares worth RM35.88 million.

Among actives, China Stationery and The Media Shoppe earned half a sen each to 24 sen and 10 sen, respectively, DPS Resources added two sen to 20.5 sen while Pelikan Int.Corp lost one sen to 49 sen.

Of the heavyweights, Maybank declined three sen to RM9.99, Sime Darby gained four sen to RM9.44 while Axiata and CIMB were flat at RM6.75 and RM7.19, respectively.-- Bernama

Ringgit traded weaker against US dollar

Posted: 03 Sep 2013 07:24 PM PDT

The ringgit was traded weaker against the US dollar in the early session today on lack of buying interest which saw the local currency trading towards 3.30 level, currency dealers said.

At 9.20am, the ringgit was quoted at 3.3040/3070 to a US dollar from yesterday's close at 3.2850/2880.

They said the ringgit's performance was in line with the Indonesian rupiah and Indian rupee which are currently on a volatile period affected by the slowdown in global trade.

Meanwhile, the ringgit was traded mostly lower against all other major currencies at close.

The local unit was lower against the Singapore dollar at 2.5847/5886 from 2.5720/5762 yesterday and was little changed against the Japanese yen at 3.3176/3213 against 3.3108/3155 Tuesday.

Against the British pound, the local currency weakened at 5.1414/1473 from 5.1154/1211 yesterday and fell against the euro to 4.3500/3547 from 4.3270/3313 on Tuesday.-- Bernama

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Boehner says he will back Obama's call for military action in Syria - Washington Post

Posted: 03 Sep 2013 08:48 AM PDT

Speaking to reporters after a White House meeting with Obama and other top congressional leaders, House Speaker John A. Boehner (R-Ohio) said, "I'm going to support the president's call for action; I believe my colleagues should support this call for action."

House Minority Leader Nancy Pelosi (D-Calif.) also expressed support for a strike against the forces of Syrian President Bashar al-Assad, saying he had acted far outside the norms of civilized behavior by launching an Aug. 21 chemical weapons attack that killed more than 1,400 people, including hundreds of children, on the outskirts of Damascus.

"The United States for our entire history has stood up for democracy and freedom around the world," Boehner said after the White House meeting. "These weapons have to be responded to. Only the United States has the capacity and the capability to stop Assad or warn others around the world that this type of behavior will not be tolerated. I appreciate the president reaching out to me and my colleagues in Congress over the past few weeks."

House Majority Leader Eric Cantor (R-Va.) said he also intends "to vote to provide the president of the United States the option to use military force in Syria."

Boehner spoke after Obama said at the start of the meeting that he was "confident" he could assuage the concerns of congressional leaders about a U.S. military strike. He also expressed willingness to revise a resolution authorizing the use of force as long as his goals are met.

Opening the meeting with top lawmakers of both parties from the House and Senate, Obama said his plan to launch airstrikes against Assad's forces "fits into a broader strategy" of strengthening the Syrian opposition and ultimately driving Assad from power.

Seated at a table in the Cabinet Room between Boehner and Pelosi, Obama stressed that the military plan developed by the Pentagon is "proportional, it is limited, it does not involve boots on the ground." He added: "This is not Iraq, and this is not Afghanistan."

The proposed strike "gives us the ability to degrade Assad's capabilities when it comes to chemical weapons" now and in the future, he said.

"At the same time, we have a broader strategy that will allow us to upgrade the capabilities of the opposition, allow Syria ultimately to free itself" from the death and destruction of its gruesome civil war, Obama said.

Obama made the remarks as his administration stepped up a campaign to secure congressional backing for a military strike against Syria.

Pelosi told reporters after the meeting: "I believe the American people need to hear more about the intelligence that supports this action. And that is the responsibility for this chemical weapons use is clearly at the feet of Assad." She said the attack went beyond civilized human behavior, "and we must respond."

Syria crisis has created 2 million refugees, UN says - CBS News

Posted: 03 Sep 2013 08:04 AM PDT

GENEVA The civil war in Syria has forced over 2 million people out of the country and over 4 million others are displaced within its borders, making Syria the nation with the largest number of people torn from their homes right now, U.N. officials said Tuesday.

If the conflict continues 3.5 million Syrian refugees are expected by the end of the year, U.N. High Commissioner for Refugees Antonio Guterres said.

"At this particular moment it's the highest number of displaced people anywhere in the world," he told reporters in Geneva. "Syria has become the great tragedy of this century — a disgraceful humanitarian calamity with suffering and displacement unparalleled in recent history."

Almost 5,000 citizens a day on average are flowing out of Syria — a country of some 23 million people — many of them with little more than the clothes they are wearing, Guterres said. The number of refugees has surged by 1.8 million in just 12 months — up from almost 231,000 a year ago.

"What is appalling is that the first million fled Syria during two years. The second million fled Syria in (the past) six months," he said of the impact of the civil war, which began as a rebellion against President Bashar Assad's regime in March 2011. "We have now almost one-third of the Syria population that has been displaced, and half in need of assistance."

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Syrian refugees with a double-curse

More than 97 per cent of Syria's refugees are hosted by countries in the immediate surrounding region, which is impacting their infrastructures, economies and societies and making them in need of urgent outside help, Guterres said.

"So there are no words to express the dimension of this tragedy," he said. "The only solace is the humanity shown by the neighboring countries in welcoming and saving the lives of so many refugees."

As of the end of August, the agency counted 716,000 refugees in Lebanon, 515,000 in Jordan, 460,000 in Turkey, 168,000 in Iraq and 110,000 in Egypt. It said

"Even after they have crossed a border to safety, they are traumatized, depressed and in need of a reason for hope," he said.

The threats to refugee children are rising, the agencies say, including child labor, early marriage and the potential for sexual exploitation and trafficking. More than 3,500 children in Jordan, Lebanon and Iraq have crossed Syria's borders unaccompanied or separated from their families, according to the U.N. figures.

In May, CBS News correspondent Clarissa Ward traveled to a refugee camp in Jordan where Syrian parents were selling their daughters into marriage with wealthy Arab men in a desperate bid to survive.

Ministers from Iraq, Jordan, Lebanon and Turkey were planning to meet with Guterres on Wednesday in Geneva in an effort to gain greater international support.

"If the situation continues to deteriorate at this rate," said the U.N. special envoy for refugees, actress Angelina Jolie, "the number of refugees will only grow, and some neighboring countries could be brought to the point of collapse."

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