Jumaat, 26 April 2013

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US stocks close on mixed note

Posted: 26 Apr 2013 03:50 PM PDT

NEW YORK: US stocks on Friday ended mixed after a mediocre report on US economic growth and the latest batch of uneven corporate earnings reports.

The Dow Jones Industrial Average rose 11.75 points (0.08 percent) to 14,712.55.

The broad-based S&P 500 dipped 2.92 points (0.18 percent) to 1,582.24, while the tech-rich Nasdaq Composite Index lost 10.72 points (0.32 percent) to 3,279.26.

Friday's results came as the Commerce Department reported first quarter growth of 2.5 percent, above the previous quarter's level, but below the 2.8 percent analysts had forecast.

The report illustrated the effects of an 8.4 percent cut in federal spending due to the federal "sequester." On the positive side, consumer spending rose 3.2 percent.

Briefing.com analysts said the weaknesses in the data simply confirmed to investors that the Federal Reserve was not likely to tighten economic policy in the near future.

"The broader market appeared unconcerned as market participants are well aware of the Federal Reserve's commitment to maintain its accommodative monetary policy for as long as conditions warrant." Briefing said.

Dow member Chevron rose 1.3 percent despite reporting a 4 percent decline in earnings. The company reported slightly higher oil and natural gas output.

Online retailing king Amazon tumbled 7.2 percent after reporting a 37 percent drop in quarterly earnings and forecasting second quarter sales at a lower level than had been expected by analysts.

Tire maker Goodyear dropped 3.3 percent after reporting a 12.3 percent decline in quarterly revenues. The company cited continued weakness in its European division.

Home builder DR Horton soared 6.9 percent after reporting profit rose 173 percent in its fiscal second quarter as sales boomed amid a recovering housing market.

Struggling retailer JC Penney jumped 11.6 percent after investor George Soros' company took a 7.9 percent stake in the company. -- AFP

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Growth falls short of forecasts, weakness ahead - Reuters

Posted: 26 Apr 2013 07:36 AM PDT

Crews load and unload consumer products at the Port of New Orleans along the Mississippi River in New Orleans, Louisiana June 23, 2010. REUTERS/Sean Gardner

WASHINGTON | Fri Apr 26, 2013 10:45am EDT

(Reuters) - Economic growth regained speed in the first quarter, but not as much as expected, heightening fears an already weakening economy could struggle to cope with deep government spending cuts and higher taxes.

Gross domestic product expanded at a 2.5 percent annual rate, the Commerce Department said on Friday, after growth nearly stalled at 0.4 percent in the fourth quarter. Economists had expected a 3.0 percent growth pace.

"It wasn't the bang-up start to the year we had hoped for, and the signals from March suggested that we will only decelerate from here," said Avery Shenfeld, chief economist at CIBC World Markets Economics in Toronto.

Part of the pick-up in activity reflected farmers' filling up silos after a drought last summer decimated crop output. Removing inventories, the growth rate was a tepid 1.5 percent.

Still, most areas of the economy contributed to growth, with the exception of government, the trade sector and investment by businesses in offices and other commercial buildings.

While consumer spending increased solidly, it came at the expense of saving, which does not bode well for future growth.

A separate report showed worries about finances sapped consumer morale in April. The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment fell to 76.4 last month from 78.6 in March.

U.S. stocks opened lower on the data, while prices for Treasury debt rose and the dollar weakened against the yen.

The GDP report offers ammunition for the Federal Reserve to maintain its monetary stimulus. The U.S. central bank, which meets next week, is widely expected to keep purchasing bonds at a pace of $85 billion a month.

"They are going to mark down their economic assessment. The second quarter is tracking closer to 1 percent," said Jacob Oubina, an economist at RBC Capital Markets in New York.

Data ranging from employment to retail sales and manufacturing weakened substantially in March after robust gains in the first two months of the year, and the factory sector appears to have slowed further in April.

Many forecasters expect the economy's softness to persist into the third quarter until signs of a convincing revival emerge.

COUNTING ON CONSUMERS

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased at a 3.2 percent pace - the fastest since the fourth quarter of 2010. It grew at a 1.8 percent rate in the fourth quarter of last year.

The increase in spending came despite the return of a 2 percent payroll tax and higher gasoline prices. Households, however, had to cut back on saving as incomes dropped at a 5.3 percent rate, the steepest descent since late 2009.

The saving rate - the percentage of disposable income households are socking away - fell to 2.6 percent, the lowest since the fourth quarter of 2007, from 4.7 percent in the final three months of last year.

Despite the spike in gasoline prices, inflation pressures were benign. Inflation rose at a 0.9 percent rate, the smallest increase since the second quarter of 2012 and a sharp slowdown from the 1.6 percent pace logged in the fourth quarter.

A core measure that strips out food and energy costs rose at a 1.2 percent rate.

The lack of inflation should come as welcome relief for American households, but it could cause some nervousness at the U.S. central bank, which may see it as a symptom of the economy's weakness. The Fed aims to keep inflation close to 2 percent.

Government spending fell at a 4.1 percent pace, with declines at both the federal and the state and local levels. Government spending has declined for 10 of the last 11 quarters.

"The decline in government spending over the past two quarters is the biggest six-month contraction since the Korean war ended," Paul Ashworth, chief U.S. economist at Capital Economics in Toronto said in a research note.

Business spending on equipment and software slowed sharply, growing at an only 3.0 percent rate after a brisk 11.8 percent pace in the fourth quarter.

Economists caution that it is too early to blame the cooling in business investment and other more recent signs of economic softness on the $85 billion in mandatory government spending cuts, known as the sequester, that began on March 1.

Homebuilding marked an eighth straight quarter of growth, though the pace moderated from the fourth quarter. Housing added to growth last year for the first time since 2005 and its recovery should help ensure the economy does not contract.

While export growth rebounded, it was outpaced by imports, resulting in a trade deficit that cut off half a percentage point from output.

(Editing by Andrea Ricci and Tim Ahmann)

George Jones, Admired and Copied Country Singer, Dies at 81 - New York Times

Posted: 26 Apr 2013 07:58 AM PDT

George Jones, the definitive country singer of the last half-century, died Friday at a hospital in Nashville. He was 81.

He was hospitalized on April 18 with fever and irregular blood pressure, the Web site of Webster & Associates, his publicists, said in announcing the death.

Mr. Jones, who was nicknamed Possum for his close-set eyes and pointed nose, and later No-Show Jones for the concerts he missed during drinking and drug binges, was a legendary figure in country music. His singing, which was universally respected and just as widely imitated, found vulnerability and doubt behind the cheerful drive of honky-tonk. With a baritone voice that was as elastic as a steel-guitar string, he brought suspense to every syllable, merging bluesy slides with the tight, quivering ornaments of Appalachian singing.

In his most memorable songs, all the pleasures of a down-home Saturday night couldn't free him from private pain. His up-tempo songs had undercurrents of solitude, and the ballads that became his specialty were suffused with stoic desolation. "When you're onstage or recording, you put yourself in those stories," he once said.

As Mr. Jones sang about heartbreak and hard drinking, fans heard the echoes of a life in which success and excess battled for decades.

He bought, sold and traded dozens of houses and hundreds of cars; he made millions of dollars and lost much of it to drug use, mismanagement and divorce settlements. Through it all, he kept touring and recording, singing mournful songs that continued to ring true.

From the 1950s into the 21st century, Mr. Jones was a presence on the country charts, and as early as the 1960s he was praised by listeners and fellow musicians as the greatest living country singer. He was never a crossover act; while country fans revered him, pop and rock radio stations ignored him. But by the 1980s, Mr. Jones had come to stand for country tradition. Country singers through the decades, from Garth Brooks and Randy Travis to Toby Keith and Tim McGraw, learned licks from Mr. Jones, who never bothered to wear a cowboy hat.

"Not everybody needs to sound like a George Jones record," Alan Jackson, the country singer and songwriter, once told an interviewer. "But that's what I've always done, and I'm going to keep it that way — or try to."

George Glenn Jones was born with a broken arm in Saratoga, Tex., an oil-field town, on Sept. 12, 1931, to George Washington and Clare Jones. His father, a truck driver and pipe fitter, bought George his first guitar when he was 9, and with help from a Sunday school teacher he taught himself to play melodies and chords. As a teenager he sang on the streets, in Pentecostal revival services and in the honky-tonks in the Gulf Coast port of Beaumont. Bus drivers let him ride free if he sang. Soon he was appearing on radio shows, forging a style modeled on Lefty Frizzell, Roy Acuff and Hank Williams.

Mr. Jones married Dorothy Bonvillion when he was 17, but divorced her before the birth of their daughter. He served in the Marines from 1950 to 1953, then signed to Starday Records, whose co-owner Pappy Daily became Mr. Jones's producer and manager. Mr. Jones's first single, "No Money in This Deal," was released in 1954, the year he married his second wife, Shirley Corley. They had two sons before they divorced in 1968.

"Why Baby Why," released in 1955, became Mr. Jones's first hit. During the 1950s, he wrote or collaborated on many of his songs, including hits like "Just One More," "What Am I Worth" and "Color of the Blues," though he later gave up songwriting. In the mid-1950s he had a brief fling with rockabilly, recording as Thumper Jones and as Hank Smith. But under his own name he was a country hitmaker. He began singing at the Grand Ole Opry in 1956.

He had already become a drinker. "White Lightning," a No. 1 country hit in 1959, required 83 takes because Mr. Jones was drinking through the session. On the road, playing one-night stands, he tore up hotel rooms and got into brawls. He also began missing shows because he was too drunk to perform.

But onstage and on recordings, his career was advancing. In 1962 he recorded one of his signature songs, "She Thinks I Still Care," which was nominated for a Grammy Award. Another of his most lasting hits, "The Race Is On," appeared in 1964. He was part of the first country concert at Madison Square Garden, a 10-act package in 1964 that also included Ernest Tubb, Bill Monroe and Buck Owens. At the first show of four performances Mr. Jones, who had been allotted two songs like the other acts, played five before he was carried offstage.

In 1966, Mr. Jones tried to start a country theme park in Vidor, the East Texas suburb where he lived, the first of many shaky business ventures. But there was only one performance given at the George Jones Rhythm Ranch. After singing, Mr. Jones disappeared for a month, rambling across Texas. His drinking had gotten worse. At one point his wife hid the keys to all his cars, so he drove his lawn mower into Beaumont to a liquor store — an incident he would later commemorate in a song and in music videos. Not long afterward, they were divorced.

Mr. Jones had his next No. 1 country single in 1967 with "Walk Through This World With Me." He moved to Nashville and opened a nightclub there, Possum Holler, which lasted a few months.

He had met a rising country singer, Tammy Wynette, in 1966, and they fell in love while on tour. She was married at the time to Don Chapel, a songwriter whose material had appeared on both of their albums. One night in 1968, Mr. Jones recalled, Ms. Wynette and Mr. Chapel were arguing in their dining room when Mr. Jones arrived; he upended the dining room table and told Ms. Wynette he loved her. She took her three children and left with Mr. Jones.

They were married in 1969 and settled in Lakeland, Fla. There, on the land around his plantation-style mansion, Mr. Jones built another country-themed park, the Old Plantation Music Park.

Mr. Jones severed his connection with Mr. Daily and later maintained that he had not received proper royalties. In 1971 he signed a contract with Epic Records, which was also Ms. Wynette's label, and the couple began recording duets produced by Billy Sherrill, whose elaborate arrangements helped reshape the sound of Nashville. Three of Mr. Jones's duets with Ms. Wynette — "We're Gonna Hold On," "Golden Ring" and "Near You" — were No. 1 country hits, an accomplishment made more poignant by the singers' widely reported marital friction.

"Mr. and Mrs. Country Music" was painted on their tour bus. But the marriage was falling apart, unable to withstand bitter quarrels and Mr. Jones's drinking and amphetamine use. After one fight, he was put in a straitjacket and hospitalized for 10 days. The Lakeland music park was shut down.

The couple were divorced in 1975; the two albums Mr. Jones released in 1976 were called "The Battle" and "Alone Again." But duets by Mr. Jones and Ms. Wynette continued to be released until 1980. They made a new album, "Together Again," in 1980, including the hit "Two Story House." Mr. Jones and Ms. Wynette would reunite to tour and record again in the mid-1990s.

After the divorce, Mr. Jones grew increasingly erratic. He drank heavily and lost weight. His singles slipped lower on the charts. His management bounced his band members' paychecks. At times he would sing in a Donald Duck voice onstage. And he began using cocaine and brandishing a gun; after firing at a friend's car in 1977 he was arrested, though the charges of attempted murder were dropped.

His nickname No-Show Jones gained national circulation as he missed more engagements than he kept. When he was scheduled to play a 1977 showcase at the Bottom Line in New York, he disappeared for three weeks instead. In 1979, he missed 54 concert dates. (Later, the licenses on his cars would read "NOSHOW1" to "NOSHOW7.")

But as his troubles increased, so did his fame and his album sales. "I was country music's national drunk and drug addict," Mr. Jones wrote in his autobiography.

Among musicians, Mr. Jones had fans outside country circles. James Taylor wrote "Bartender's Blues" for him, and sang it with him as a duet. In 1979, on the album "My Very Special Guests," Mr. Jones sang duets with Willie Nelson, Linda Ronstadt, Elvis Costello and Emmylou Harris. But he missed many of the recording sessions, and had to add his vocal tracks later.

Mr. Jones had moved to Florence, Ala., in part to get away from arrest warrants for nonpayment of child support to Ms. Wynette and other debts in Tennessee. In Florence, Mr. Jones had a girlfriend, Linda Welborn, from 1975 to 1981. When they broke up, she sued and won a divorce settlement under Alabama's common-law marriage statutes.

In 1979 Mr. Jones declared bankruptcy and signed away his royalties from past and present recordings to repay his creditors. His manager was arrested for selling cocaine. That December, Mr. Jones was committed for 30 days to a drug and alcohol rehabilitation center. But he went back to cocaine and whiskey when he was released.

Yet he still had hits. "He Stopped Loving Her Today," a song about a man whose love ends only when his life does, was released in April 1980 and began Mr. Jones's resurgence. It was a No. 1 country hit, and the album that included it, "I Am What I Am," sold a million copies. The Country Music Association named "He Stopped Loving Her Today" the song of the year (the award went to its songwriters, Bobby Braddock and Curly Purman), and the recording won the Grammy for best male country performance. Epic Records renewed Mr. Jones's contract with a $500,000 advance, though most of it went to pay debts.

He became a consistent country hitmaker again, with No. 1 songs including "Still Doin' Time" in 1981 and "I Always Get Lucky With You" in 1983. He made an album with Johnny Paycheck, a former member of his band, in 1980 and one with Merle Haggard in 1982; he recorded a single, "We Didn't See a Thing," with Ray Charles in 1983. And in 1984 he released "Ladies' Choice," an album of duets with Loretta Lynn, Brenda Lee, Emmylou Harris and other female singers.

In 1983 he married Nancy Sepulveda, who straightened out his business affairs and then Mr. Jones himself. He gave up cocaine and whiskey. The couple moved to East Texas, near Mr. Jones's birthplace, and opened the Jones Country Music Park, which they operated for six years. He worked more steadily, although without the blockbuster successes of the early 1980s. In 1988 he changed labels again, to MCA, and soon afterward the Joneses moved to Franklin, Tenn.

By then, younger, more telegenic singers had come along with vocal styles learned largely from Mr. Jones and Merle Haggard. Now treated as an elder statesman, Mr. Jones sang duets with some of his musical heirs, including Randy Travis in 1990 and Alan Jackson in 1995. Garth Brooks, Vince Gill, Travis Tritt, Clint Black, Patty Loveless and other country stars joined Mr. Jones on the single "I Don't Need Your Rocking Chair" in 1992. That same year he was named to the Country Music Hall of Fame.

His 1992 album, "Walls Can Fall," sold a half-million copies. He made a duet album, "The Bradley Barn Sessions," with country singers like Trisha Yearwood and rock musicians like Mark Knopfler and Keith Richards. In 1994, he had triple bypass surgery.

He rejoined Ms. Wynette to record an album, "One," and to tour in 1994 and 1995, and he released an album with the same name as his autobiography, "I Lived to Tell It All," in 1996. He changed labels, to Asylum Records, in 1998, the year that Ms. Wynette died in her sleep at age 55.

Until he was critically injured in an accident on March 6, 1999, when his car hit the side of a bridge while he was changing a cassette tape, Mr. Jones was performing more than 150 nights a year. A half-empty bottle of vodka was found in the car; Mr. Jones was sentenced to undergo treatment.

"Choices," a song he released in 1999, won him a Grammy for best male country vocal. In it, he sang, "By an early age I found I liked drinkin'/ Oh, and I never turned it down."

Mr. Jones maintained his career into the 21st century, touring steadily and recording. He was a guest vocalist on Top 30 country hits by Garth Brooks and Shooter Jennings, and he released both country and gospel albums in the early 2000s. In 2006 he and Mr. Haggard joined forces again for "Kicking Out the Footlights Again: Jones Sings Haggard, Haggard Sings Jones." In 2012, he received a lifetime achievement Grammy Award.

The Webster & Associates Web site listed his survivors as his wife, Nancy; his sister, Helen Scroggins; and his children and grandchildren.

In his last years, Mr. Jones found himself upholding a traditional sound that had largely disappeared from commercial country radio. "They just shut us off all together at one time," he said in a 2012 conversation with the photographer Alan Mercer. "It's not the right way to do these things. You just don't take something as big as what we had and throw it away without regrets.

"They don't care about you as a person. They don't even know who I am in downtown Nashville."

Kredit: www.nst.com.my

Khamis, 25 April 2013

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Local investors positive with Bursa

Posted: 25 Apr 2013 06:53 PM PDT

A majority of Malaysian investors continue to feel positive about the local stock market with 59 per cent of those surveyed believe it will do well this year.

The figure is about the same to those who believed the market would increase last year, according to Franklin Templeton's Global Investor Sentiment Survey.

Franklin Templeton Investments country head (Malaysia) Sandeep Singh said the optimism of Malaysian investors is in line with broader regional investor sentiment.

"Across Asia, investors in general appear positive, with more than half of Asia Pacific investors surveyed being optimistic about their national stock markets.

"We believe Asian investors' positive expectations are largely attributed to the fact that several Asian economies display solid economic fundamentals and strong long term growth prospects," he said in a statement.

The Franklin Templeton Global Investor Sentiment Survey was conducted by ORC International, from January 14 to 25, 2013. It covered 9,518 individuals in 19 countries, including Malaysia.

The survey revealed that 63 per cent of Malaysians say they will be adopting a more conservative strategy in 2013, while 31 per cent of respondents are seeking to make their portfolios more aggressive this year.

Franklin Templeton, a global investment management firm, said the finding is consistent across Asia Pacific where a majority of countries surveyed reflect more conservative investment attitudes this year.

Investors in South Korea, Malaysia and India are the most likely to adopt a more prudent investment strategy, while investors in Hong Kong -- a slight majority of 51 per cent -- are opting for a more aggressive investment style in 2013," Franklin Templeton Investments said in a statement.

The survey also found that Malaysian investors are highly positive about the local investment horizon, with 86 per cent expressing confidence in reaching their financial goals.

They expect an investment return rate of 11.5 per cent in 2013, compared with 8.5 per cent investment return in the 2012 expectation.

Malaysians are also confident of receiving higher rates of return over the next 10 years at an estimated 19.5 per cent.

Of Malaysians who responded to the survey, affluent investors with a household income of RM100,000 and above, with investable assets of at least RM200,000 are the most likely to feel Asia will offer the best fixed income returns over the next 10 years.

Sandeep said this year's survey demonstrates a strong awareness among Malaysian investors on the benefits of pursuing a broad range of fixed income opportunities and he anticipates this phenomenon to grow.

"The findings come as no surprise as Malaysia is currently the fourth largest bond market in Asia including Japan, a likely source of investors' increased confidence in the local bond market," he said.

The survey also revealed that over 50 per cent of respondents think that Syariah-compliant unit trusts would outperform conventional ones.

Of those who prefer Syariah-compliant funds, 17 per cent cited ethical investing as their reason for selecting it, while 15 per cent chose Syariah instruments due to the category's perceived lower risk exposure.

The top three preferred asset classes by Malaysians in terms of perceived gains in 2013 and over the 10 years are property, precious metals (gold/silver) and stocks.

UMW posts record pre-tax profit for FY12

Posted: 25 Apr 2013 07:00 PM PDT

UMW Holdings Bhd posted a pre-tax profit of RM2.01 billion for the financial year ended December 31, 2012, a substantial increase of 47.2 per cent from RM1.37 billion previously.

The achievement was a new record for the group, the company said in a statement today.

Its revenue increased to RM15.86 billion compared with RM13.53 billion, up 17.2 per cent or RM2.33 billion from a year ago.

UMW president and Group chief executive officer Datuk Syed Hisham Syed Wazir said all four core business segments -- automotive, equipment, manufacturing and engineering and oil and gas -- reported higher revenue for the year.

"2012 was another record year for the UMW group and we look forward to challenging ourselves for a better 2013," he said.

On prospects for the automotive segment, he said the Malaysian Automotive Association has forecast the total industry volume for 2013 to improve by about two per cent to 640,000 units from 627,753 units achieved in 2012.

"Collectively, UMW Toyota Motor and Perodua is targeting to sell higher units than the 295,759 units sold in 2012," he said, adding that the group had a market share of 47.1 per cent last year.

"This year will remain challenging due to intense competition in the market with aggressive promotions on new model launches in the automotive industry," he said.

Syed Hisham said revenue for the equipment segment was expected to be slightly lower than 2012 due to uncertain external factors that might affect the demand for equipment.

Nonetheless, the profitability of this segment was expected to sustain resulting from better cost management and increased parts sales, he said.

He also said that performance of the oil and gas segment was expected to improve in 2013 driven by the full-year contribution from jack-up drilling rig Naga 1 and Naga 4.

"Naga 4 received a contract from Petronas Carigali Sdn Bhd for a three-year period worth US$157.68 million this month," he said, adding that commissioning works on the new electric resistance welded and coating plant in China would also contribute to the oil and gas segment.

Meanwhile, the manufacturing and engineering segment is expected to improve with major activities planned for 2013, such as higher capacity utilisation for automotive component plants in India, lubricant plant in China and higher sales of Repsol and Pennzoil lubricants.-- Bernama

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Syria has likely used chemical weapons on a "small scale," Chuck Hagel says - CBS News

Posted: 25 Apr 2013 09:14 AM PDT

Updated at 12:10 p.m. Eastern

ABU DHABI, United Arab Emirates U.S. intelligence has concluded "with some degree of varying confidence," that the Syrian government has used sarin gas as a weapon in its 2-year-old civil war, Defense Secretary Chuck Hagel said Thursday.

Hagel, speaking to reporters in Abu Dhabi, said the White House has informed two senators by letter that, within the past day, "our intelligence community does assess, with varying degrees of confidence, that the Syrian regime has used chemical weapons on a small scale in Syria, specifically, the chemical agent sarin."

"It violates every convention of warfare," Hagel said.

No information was made public on what quantity of chemical weapons might have been used, or when or what casualties might have resulted.

President Barack Obama has said the use of chemical weapons would be a "game-changer" in the U.S. position on intervening in the Syrian civil war, and the letter to Congress reiterates that the use or transfer of chemical weapons in Syria is a "red line for the United States." However, the letter also hints that a broad U.S. response is not imminent.

Asked if the new evidence means Syria had crossed the "red line," Hagel responded: "My role as secretary of defense is to give the president options on a policy issue, that's a policy issue. And we'll be prepared to do that as the president requires options."

White House legislative director Miguel Rodriguez, who signed the letter, wrote that "because the president takes this issue so seriously, we have an obligation to fully investigate any and all evidence of chemical weapons use within Syria."

The letters, obtained by CBS News, went to Sens. John McCain, R-Ariz., and Carl Levin, D-Mich.

The assessment, Rodriguez says, is based in part on "physiological samples."

He also said the U.S. believes that the use of chemical weapons "originated with the Assad regime." That is consistent with the Obama administration's assertion that the Syrian rebels do not have access to the country's stockpiles.

In Washington, McCain quoted from the letter the White House sent to several senators who had pressed the administration about Syria's possible use of chemical weapons.

"We just received a letter from the president in response to our question about whether Assad had used chemical weapons," McCain told reporters following a closed briefing with Secretary of State John Kerry on Syria and North Korea.

A French official told CBS News that they are "taking very seriously" the allegations of chemical weapons use in Syria but the French government still does not have evidence to confirm the report.

"The main challenge is to go from clues to proofs and from proofs to accountability," a French diplomat told CBS News.

Last month, Syria expert Salman Shaikh, director of the Brookings Institution's Doha Center, told CBSNews.com that the government has been "experimenting with various compounds and mixtures to see how they could use these (chemical agents) in a localized fashion."

Shaikh said his sources, who travel to and from Damascus and maintain contact with both current and former regime officials, are certain that Assad's regime has tried out less lethal, less widely dispersed compounds for months.

This satellite image shows one of Syria's two dozen chemical weapons bases. U.S. monitoring of these bases indicates the Assad regime has begun preparing chemical weapons use.

This satellite image shows one of Syria's two dozen chemical weapons bases.

/ CBS News/DigitalGlobe

All five living presidents share stage to honor President Bush, dedicate his library - Fox News

Posted: 25 Apr 2013 09:25 AM PDT

All five living past and former U.S. presidents gathered in Dallas for the dedication of George W. Bush Presidential Library and Museum Thursday, an event that saw the men share a rare bond that transcends partisan differences.

"There was a time in my life when I wasn't likely to be found at a library, much less found one," Bush quipped, before thanking his predecessors and successor for the "kind words" and the "examples you set."

Bush thanked his mother Barbara Bush for teaching him to live life to the fullest, and his father, the 41st president, for "teaching me how to be a president...and how to be a man."

"To know the man is to like the man."

- President Obama on President Bush

"Forty-one, it is awesome that you are here today," he said, drawing a smile from his 88-year-old father, who has battled health problems in recent months.

Earlier, President Obama noted that the exclusive group of current and former presidents is often viewed as a club, but he said it is "more of a support group."

"No matter how much you think you're ready to assume the office of the president, it's impossible to understand the nature of the job until it's yours," Obama said. "The first thing I found in that desk was a letter from George. He knew that I would come to learn what he had learned. That being president is a humbling job."

"To know the man is to like the man," Obama said of Bush. "He takes his job seriously, but he doesn't take himself too seriously. He is a good man."

Former President Jimmy Carter praised Bush for boosting humanitarian efforts in Africa, Bill Clinton recalled private conversations with his successor and expressed hope that the candid talks will never come to light and President George H.W. Bush spoke briefly to warm applause.

"Dear God, I hope those conversations never come to light," Clinton said of the private chats that took place during Bush's sometimes tumultuous second term.

"I like President Bush," Clinton added later, noting the two appear together often on the lecture circuit. "He's disarmingly direct."

Carter praised Bush for helping to fight AIDS in Africa and also bringing peace to troubled regions there,. He recalled talking to Bush shortly after his election and holding him to a promise to help him.

"In January of 2005, there was a peace treaty between North and South Sudan that ended a war," Carter said. "George W. Bush is responsible for that."

The ceremony, at Southern Methodist University, drew 10,000. The men spoke from a stage flanked by American flags in front of the entrance to the library. The center on the campus of Southern Methodist University includes the presidential library and museum along with the 43rd president's policy institute. The center opens to the public May 1.

Bush addressed his vice president, Dick Cheney, who was in attendance, saying he was "proud to call you friend." Bush said the guiding principle of his two terms in office was expanding freedom throughout the world.

"When people come to this library and research this administration, they're going to find out we stayed true to our convictions," he said.

Kredit: www.nst.com.my

Rabu, 24 April 2013

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KL shares opens weaker on mild profit taking

Posted: 24 Apr 2013 06:44 PM PDT

[unable to retrieve full-text content]Bursa Malaysia opened lower this morning on mild profit taking after its recent gains, dealers said. At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,702.09 points, down 5.26 points, from yesterday's close of 1,707.35 points. The key index opened 4.68 points weaker at 1,702.67 points. HwangDBS Vickers said in a research note that after posting a gain of seven points yesterday, the key FBM KLCI could gyrate sideways today. "On the chart, the benchmark index may be locked inside a narrow trading range as it continues to tread above the psychological support level of 1,700," it said. Meanwhile, major US equity bellwethers ended between flat and marginally weaker last night in spite of better corporate results announcements. On the scoreboard, the Finance Index dropped 84.801 points to 15,917.14, the Industrial Index was down 13.02 points to 2,828.49 while the Plantation Index eased 27.43 points to 8,125.72. The FBM Emas Index declined 28.569 points to 11,622.24 and the FBM Mid 70 Index eased 0.58 of a point to 12,835.15. The FBMT100 Index fell 28.03 points to 11,458.62 but the FBM Ace Index added 8.45 points to 3,979.87. Turnover amounted to 15.178 million shares worth RM24.378 million. Gainers led losers 63 to 52 with 63 counters unchanged, 1,433 counters untraded and 30 others were suspended. Among actives, AE Multi Holdings added two sen to 24.5 sen, Solution Engineering earned half-a-sen to 23 sen and MISC erased 15 sen to RM4.37. Heavyweights, Maybank rose 10 sen to RM9.51, Axiata fell two sen to RM6.72 and CIMB added three sen to RM7.76.-- Bernama

Dow falls on P&G, AT&T earnings

Posted: 24 Apr 2013 04:39 PM PDT

NEW YORK: Sharp earnings-related falls in AT&T and Procter & Gamble pulled the Dow lower on Wednesday while the other main indices closed flat.

The Dow Jones Industrial Average dropped 43.16 points (0.29 percent) to 14,676.30.

The broad-based S&P 500 was essentially flat at 1,578.79, while the Nasdaq Composite Index added 0.32 (0.01 percent) to 3,269.65.

Dow component AT&T sank 5 percent after profit margins in both the wireline and wireless businesses came in lower than expected in its first quarter earnings report. Citigroup slashed its recommendation to "neutral" citing slower expected revenue growth in 2013.

Consumer goods giant Procter and Gamble, another Dow member, reported higher quarterly profits, but fell 5.9 percent after revenue figures disappointed. A Morgan Stanley note rued the poor "quality" of the results, citing weak organic sales growth.

Other blue-chip losers included Cisco (down 2.5 percent) and Walmart (down 1.3 percent).

Among those gaining were Alcoa (up 3.6 percent), Microsoft (up 3.8 percent) and General Electric (up 2.1 percent).

Technology giant Apple took an erratic trajectory, rising and falling throughout the day on the heels of its first drop in quarterly earnings in nearly 10 years.

But that was mitigated by plans to double to US$100 billion by 2015 the sum it spends on buybacks and dividends.

Apple shares traded between US$392.50 and US$415.25, before settling at US$405.46, down 0.2 percent.

Auto giant Ford dipped 0.2 percent despite reporting stronger profits due to growth in North America. But the company's European division turned in another loss.

Boeing jumped 3 percent after besting analyst expectations by a wide margin. The company said the retrofitting costs of resolving the battery problems on the grounded 787 aircraft would have only a minor impact on financials.

Yum! Brands, the parent of Taco Bell and other fast food franchises, gained 7 percent after net income bested expectations by a wide margin. -- AFP

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5 reportedly dead in Illinois shooting; suspect reportedly caught after high-speed ... - Fox News

Posted: 24 Apr 2013 08:27 AM PDT

  • shootinggrabs2.jpg

    April 24: Authorities investigate the scene where local reports say five people were fatally shot in thee early morning hours on Wednesday. Police reportedly say the suspect is in custody.KTVI

Five people were reportedly killed in a shooting in Manchester, Ill., Wednesday morning prompting the closure of three area schools, Fox2Now.com reports.

WLDS, a radio station in the area, reports that the suspect attempted to run from the scene, got into a high-speed chase with police and shots were fired while the suspect was taken into custody.

One person was injured in the shooting, but the injuries remain unclear. The Chicago Tribune reports that a young girl survived and the victims may be family members.

 The suspect, the station reports, is in custody. Police told FoxNews.com that they do not believe another suspect is at large.

The crime scene was described as a single-story apartment. The relationship between the suspect and the alleged victims was not immediately clear.

Mayor Ronald Drake said he got the call around 4:45 a.m., indicating that there had been a shooting with multiple fatalities, Fox2Now.com reports.

Drake did not say who the victims were or given any details about the suspect. He told The St. Louis Post-Dispatch that the victims "lived in federal housing and it's hard to keep up" with their identities because there is so much turnover of residents there.

Illinois State Police spokeswoman Monique Bond says the victims were found early Wednesday morning in the southwestern Illinois community, 50 miles west of Springfield. She didn't have any details on the deaths or the circumstances surrounding the capture of the suspect.

A school superintendent in the area says he was informed by sheriffs early Wednesday morning that the victims had been shot to death. Les Stevens of the North Greene School District says he canceled classes because authorities warned him at the time that the suspect was at large. The district has since been informed that the man was captured.

Classes were canceled in three area school districts: Northgreene, Winchester and Jacksonville.  Approximately 950 students are affected.

Click for more from Fox2Now.com

Click for more from WLDS

The Associated Press contributed to this report

Muslims have a problem. Uncle Ruslan may have the answer. - Washington Post

Posted: 23 Apr 2013 05:18 AM PDT

In the next few minutes, the uncle to Dzhokhar Tsarnaev, 19, and Tamerlan Tsarnaev, 26, the alleged Boston Marathon bombers, accomplished something that 11 years of post-9/11 press releases, news conferences and soundbites by too many American Muslim leaders has failed to do on the issue of radicalization and terrorism: with raw, unfettered emotion, he owned up to the problem within.

Instead of being silenced by what they did, he openly said that his nephews had brought "shame" on the family with their actions. This is the same kind of "shame off," as one admirer later called it, that protesters to the gang rape in India have to win: Are we shamed into silence? Or do we confront the serious issues that shame us?

Hands clasped tightly in front of him, Uncle Ruslan faced off against a pack of about 30 journalists, cameras pointing at him, microphones stuck in front of him, questions about his nephews thrown at him:

"When was the last time you saw them?" He answered: December 2005. Another journalist asked: "What do you think provoked this?" "Umm, being losers! Hatred to those who were able to settle themselves!" he shouted. "These are the only reasons I can imagine. Anything else to do with religion, to do with Islam, is a fraud, is a fake."

As an American Muslim who has watched the radicalization of Muslims from Louisville, Ky., to Chatanooga, Tenn., to Chechnya, the ancestral ethnicity of the alleged bombers, over the last three decades, I had one question on my mind.

I asked softly: "Is your family Muslim?"

The uncle didn't hear me well: "Huh?"

I repeated my question: "Is your family Muslim?"

The question was one other journalists later admitted to me that they wondered but didn't dare ask, the proverbial elephant in the room, only at that moment, on a cul-de-sac with manicured lawns, playground sets and helicopters and Canadian geese overhead. In Washington, D.C., leaders of national American Muslim organizations filled a room at the National Press Club and issued their flat, blanket rebuttals: Islam doesn't sanction violence, and it doesn't allow terrorism. When the New York Post made the mistake of writing that a Saudi witness was actually a suspect, bloggers and others took advantage of the opportunity to chortle over the mistake as just one more horrible example of stereotyping.

While it is critical that we don't jump to conclusions by associating religious affiliation with militancy, there is no doubt that embracing an ideology of Islam that promotes extremism and violence has been a motivator for terrorism, from assassinated al-Qaeda leader Osama bin Laden to Army Major Nidal Hasan.

Did such an ideology influence the Tsarnaev brothers? Who or what compelled them to violence? What role does Muslim culture play in this type of radicalization?

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Asean leaders to talk China, trade

Posted: 23 Apr 2013 06:49 PM PDT

BANDAR SERI BEGAWAN: Southeast Asian leaders will meet in Brunei today hoping to heal wounds from damaging infighting over China, while seeking to build momentum towards a giant free trade pact.

The summit of the 10-member Association of Southeast Asian Nations (Asean) comes after the bloc suffered deep splits last year linked to territorial disputes with China over the resource-rich South China Sea.

Asean members Brunei, Malaysia, the Philippines and Vietnam, as well as China and Taiwan, claim parts of the sea, which is also home to some of the world's most important shipping lanes as well as rich fishing grounds.

But a push by the Philippines and Vietnam for Asean to send a united message to an increasingly aggressive China crumbled amid resistance from Cambodia, a close Chinese ally that held the rotating chair of the bloc in 2012.

Senior Asean figures emphasised ahead of the two-day summit in Brunei's capital that the group, which for more than four decades has operated by consensus, must work hard to find common ground on the South China Sea issue.

And Asean leaders will make a united call in an end-of-summit statement for talks with China on the issue, but they will avoid any strong language, according to a draft of the document obtained by AFP.

"We reaffirmed our commitment to ensuring the peaceful resolution of disputes without resorting to the threat or use of force, through friendly consultations in accordance with universally recognised principles of international law," the draft statement said.

The draft called for an "early conclusion" on a legally binding code of conduct for the sea between Asean and China, but did not give a timeframe.

Brunei had said one of its priorities as this year's Asean chair was to see the code of conduct, initially proposed in 2002, agreed by the end of the year.

However China, which prefers to negotiate directly with individual countries rather than a united Asean bloc, has refused to begin meaningful talks on the code, and has given no indication it is willing to start negotiations soon.

Feuds over how to deal with China overshadowed most senior-level Asean meetings last year.

The highest tensions came at a foreign ministers' meeting in Phnom Penh in July, which ended for the first time in the bloc's 45-year history without a joint communique.

The Philippines and Vietnam are the most vocal critics of China, while Laos and Cambodia are regarded as Beijing's staunchest allies in Asean.

Asean leaders have said that one of the other key issues on the agenda during the Brunei summit is pressing ahead with deeper economic integration within the bloc, and also with other countries in the region.

The leaders will announce on Thursday that Asean will begin negotiations next month with China, Japan, South Korea, India, Australia and New Zealand for a giant free trade pact, according to the draft end-of-summit statement.

The Regional Comprehensive Economic Partnership (RCEP) aims to tie together Asean's bilateral free trade agreements with each trading partner, and is being strongly backed by China.

It excludes the US, which is leading talks for a rival trade pact called the Trans-Pacific Partnership (TPP).-- AFP

Ringgit marginally higher against US dollar

Posted: 23 Apr 2013 06:33 PM PDT

The ringgit opened slightly better against the US dollar, in earlier session, this morning on mild buying interest for the local note, dealers said.

At 9am, the ringgit was quoted at 3.0540/0570 versus the greenback against Tuesday's close of 3.0560/0580.

"There are some bargain hunting activities in the market to shore up the ringgit, which suffered losses recently," a dealer said.

Regionally, the ringgit was traded mixed against other major
currencies.


It rose against the yen to 3.0663/0705 from 3.0969/0005 on Tuesday but depreciated marginally against the British pound to 4.6519/6570 from 4.6503/0540 yesterday.

The ringgit was slightly lower against the euro at 3.9696/9744 from 3.9670/9702 yesterday but was higher against the Singapore dollar at 2.4599/4633 from 2.4621/4651 on Tuesday.-- Bernama

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