Selasa, 21 Januari 2014

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MRCB rated 'buy' by AmeSecurities

Posted: 21 Jan 2014 06:20 PM PST

KUALA LUMPUR: AmeSecurities re-initiate coverage on Malaysian Resources Corporation Berhad (MRCB) with a 'buy' rating and fair value of RM2.20 per share at a 20 per cent discount to the NAV of RM2.75 per share.

MRCB had several false starts over the years but the entry of new management, led by its CEO cum substantial shareholder Dato Mohamad Salim Fateh Din, should instil greater entrepreneurial spirit.

In fact, it has been undergoing a quiet restructuring exercise. The focus is on stabilising its balance sheet with property development as the cornerstone for growth.

Several catalytic newsflows to lift its balance sheet (net debt: RM2.9bil) may kick-in in the coming months, starting with asset monetisation of at least RM2bil. This has already started with the divestment of its IT business for RM45mil.

Next on the cards is the injection of its prime office properties in KL Sentral into a REIT. The immediate plan is to divest Platinum Sentral for RM680 million, followed by Shell Tower and Ascott Residences. Such a move would transfer RM750 million of debts to the REIT, with realised gains of about RM380mil, on our estimates.

MRCB may commence toll collection for the EDL Highway soon, subject to final regulatory approval. The toll proceeds are expected to be higher than the government compensation of about RM11mil/month currently. Its 30% stake in DUKE may be divested by month-end.

The lacklustre construction division is being revamped to avoid future losses. Building works would be deemphasised; it is embracing open tenders even for its own projects. New bids would focus on infrastructure & environmental engineering that come with higher margins.

KL Sentral has 2.5 million sq ft of NFA left to be developed under Lot F. MRCB is rebuilding its landbank. It recently acquired 1.8 acres of commercial land fronting a lake in Putrajaya. It is also looking to acquire the balance 49 per cent of Penang Sentral with an estimated GDV of RM2 billion.

The High Court is expected to deliver its judgement on the status of PJ Sentral – currently under dispute with PKNS – on January 30. PJ Sentral has high development potential given its strategic location. A favourable outcome would kick-start the share price re-rating cycle.

The development of RRIM land by its major shareholder EPF (39 per cent) may present future opportunities for MRCB. The stock is trading at 45 per cent discount to its RNAV, and at a trough P/BV of about 1.4x.

RHB keeps 'buy' call on CIMB shares

Posted: 21 Jan 2014 06:40 PM PST

KUALA LUMPUR: RHB is maintaining a 'buy' call on CIMB with a fair value of MYR8.90 per share.

This is based on a target 2014 price/earnings (P/E) of 14 times, a 10 per cent discount to the 10-year average to factor in higher earnings risk due to its Indonesian operations.

Admittedly, the stock continues to face near-term headwinds from Indonesia's challenging environment, among others. However, we think this has largely been priced in.

In fact, we see management's more bullish stance on Indonesia and feedback regarding asset quality as two key takeaways from the meeting that should be positive for investor sentiment.

We are waiting to see how these filter down to its financial targets for 2014.

This aside, we are still positive on the domestic outlook, thanks to the emergence of a new investment cycle.

We are of the view that CIMB's strong domestic corporate presence means that the bank will be one of the major beneficiaries of the rollout of ETP projects.

Malaysia still contributes the bulk of group profit before tax (PBT) (nine months 2013 was 62 per cent).

Apart from that, other re-rating catalysts we see include more positive news flow on Indonesia's macroeconomic front, a stronger pickup in capital market activities and cost restructuring initiatives bearing fruit.

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Parties Seize On Abortion Issues in Midterm Race - New York Times

Posted: 20 Jan 2014 09:08 PM PST

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MiamiHerald.com

Parties Seize On Abortion Issues in Midterm Race
New York Times
Both sides of the abortion issue expressed their views at last year's March for Life in Washington. Michael Reynolds/European Pressphoto Agency. WASHINGTON — When the Republican National Committee gathers for its winter meeting here on Wednesday ...
Plan to boost GOP in Conn. cities to be launchedDanbury News Times
Little has changed year after GOP's planned rebootArizona Daily Star

all 130 news articles »

Christie's big speech to have no mention of scandal - CNN

Posted: 21 Jan 2014 08:14 AM PST

STORY HIGHLIGHTS
  • Separate state legislature investigations merged into one
  • Gala celebrating Christie's second term canceled due to winter storm
  • Christie does not plan to mention controversies in his inaugural address
  • Gov. Chris Christie's office played politics with Sandy funds, Hoboken mayor says

(CNN) -- On the first day of his second term, New Jersey Gov. Chris Christie faces brewing storms -- literally and figuratively.

A scandal over alleged political retribution by his administration has already cost a top aide and campaign strategist their jobs, and now Christie faces multiple investigations that could harm the presidential ambitions of the early Republican front-runner for 2016.

Even the weather was against him, with a looming snowstorm forcing cancellation of his gala celebration on Ellis Island after Tuesday's second-term inaugural address.

Despite the controversy hanging over the usually celebratory proceedings of an inauguration, Christie won't address the scandal in his speech, advisers told CNN.

As the Republican governor in a state dominated by Democrats, he instead will contrast himself with the partisanship in Washington by promoting a bipartisan vision for the Garden State.

No matter how hard he tries to avoid the scandal over traffic gridlock in Fort Lee as apparent political payback, his words will be scrutinized for any reference or hint regarding investigations by a U.S. attorney and the state legislature, as well as a promised internal review.

Before Christie speaks, the New Jersey state Assembly and Senate will announce they will merge their separate investigative committees into one panel to probe the allegations that Christie's administration abused its power, sources told CNN's Dana Bash and Shimon Prokupecz.

Business mogul and Republican backer Donald Trump summed up Christie at a political breakfast Tuesday in New Hampshire, saying, "He's a good guy, but he's one e-mail away from a disaster."

'Our dreams are the same'

Excerpts of his speech released in advance indicated Christie would stick to the same themes as his State of the State address last week.

"One of the lessons that I have learned most acutely over the last four years is that New Jersey can really be one state," Christie plans to say as he takes office for a second term after his landslide re-election victory in November.

"This election has taught us that the ways we divide each other -- by race, by class, by ethnicity, by wealth, by political party -- is neither permanent nor necessary," he will say. "Our dreams are the same: a good job, a great education for our children, safe streets in our neighborhood and core values which give our lives real meaning."

In an effort to position himself as an alternative to Washington political dysfunction, Christie will warn against the hyperpartisanship and gridlock that have caused record low support for Congress in opinion polls.

"We cannot fall victim to the attitude of Washington, D.C.," he will say. "The attitude that says I am always right and you are always wrong. The attitude that puts everyone into a box they are not permitted to leave."

Such remarks will fly in the face of the image some opponents are offering of an administration that carries out dirty threats and retributive tactics against political opponents.

The state and federal investigations are looking into suggestions that top aides and advisers to the governor orchestrated traffic jams around the George Washington Bridge in Fort Lee last year to punish that town's Democratic mayor for not endorsing Christie for re-election.

Christie has denied knowledge of the alleged bridge scheme.

In another controversy, Hoboken Mayor Dawn Zimmer alleges Christie's administration "held hostage" Superstorm Sandy recovery funds.

Christie scandals: What you need to know

Hours before Christie's second inaugural, a top New Jersey Republican defended him.

"He's a former federal prosecutor, indicted over a hundred politicians. He's the last guy on earth who's going to do an illegal activity. It's repugnant to him," said Jon Bramnick, the Republican leader in the New Jersey State Assembly, on CNN's "New Day."

"He is the most straight-talking, honest, most charismatic, successful leader that I have seen in all of my life in New Jersey," Bramnick told CNN anchor Chris Cuomo.

In his much-watched State of the State Address last week, Christie briefly acknowledged the controversies at the top of his speech. He then spent most of the address touting his achievements over the past four years and highlighting his bipartisan accomplishments.

With the next race for the White House on the horizon, and Christie seriously considering a bid for the GOP presidential nomination, he hopes the message is one that will resonate with a national audience.

However, new national polling indicates that Christie's standing among independents and Democrats has taken a hit.

CNN exclusive: Port Authority job created for Christie ally, source says

As Christie formally starts his second term, what was supposed to be a day of celebration is now clouded by the multiple controversies.

"He needs to talk about getting things done that help people and try to turn the page here. These investigations are going to last for months," said CNN chief national correspondent John King. "Over the next couple of months, can he effectively govern in New Jersey while these investigations are going on? That's a giant challenge."

Hoboken mayor provides more evidence

Zimmer, the Hoboken mayor, says she was pressured by one of Christie's officials to back a development project in the city that Christie supported.

In particular, she said she received an ultimatum from Lt. Gov. Kim Guadagno to support the plan proposed by The Rockefeller Group -- a firm with Christie ties -- or risk losing out on Superstorm Sandy recovery funds. Zimmer said Guadagno told her the message came directly from the governor.

Christie marches on as controversy at home unfolds

Aides and advisers to Christie have ties to Wolff & Samson, the law firm representing The Rockefeller Group.

The firm's lobbyist, Lori Grifa, was a former commissioner of the New Jersey Department of Community Affairs, and Wolff & Samson's David Samson is chairman of the Port Authority of New York and New Jersey and was appointed by Christie.

Samson was recently served with a subpoena in the George Washington Bridge case by the state legislature investigative committee seeking relevant documents.

Guadagno publicly denied the accusation.

"Mayor Zimmer's version of our conversation in May of 2013 is not only false but is illogical and does not withstand scrutiny when all of the facts are examined," Guadagno said Monday.

Zimmer, a Democrat elected in 2009, also said Community Affairs Commissioner Richard Constable made a similar demand regarding storm aid and the real estate plan.

Constable also denied her accusations, calling the claims libelous and "patently false and absurd on their face."

Who is Dawn Zimmer?

Zimmer said she stands by her account, remains "willing to testify under oath," and will answer any questions from the U.S. attorney's office.

Hoboken, a historically working-class town on the banks of the Hudson River made famous by favorite son Frank Sinatra, has experienced a resurgence in recent years. New development, cleaned-up parks and neighborhood charm marketing nostalgia have boosted its image and attracted new residents and businesses.

Hot piece of land in Hoboken at center of Christie-Zimmer dispute

Zimmer met with the office of U.S. Attorney Paul Fishman for several hours Sunday at its request and provided prosecutors with her journal, which contained information about the parking lot episode.

Guadagno said she recalled having a conversation with Zimmer that day, but that Zimmer is mischaracterizing their conversation. A source close to Guadagno who was not authorized to speak publicly said it was Zimmer who argued that Sandy recovery aid and redevelopment were the same issue, according to a source

"She remembers Zimmer pressing Kim for money for Sandy. Kim remembers saying you can't tie the two together," the source told CNN. "And she remembers Zimmer continuing to press and showing her a map of the city and pressing for aid for Sandy."

Zimmer disputes that account and provided CNN with letters that she said back up her case.

On April 23, she sent a letter to Christie's office that says development and Sandy aid should not be connected.

"Just as shore towns are not being asked for development in exchange for protecting them from future storms, the solution to Hoboken's flooding challenges cannot be dependent on future development," the letter read.

She sent another letter to his office on May 8 asking for help with funding pumps. Zimmer's conversation with Guadagno happened just days later and the mayor said she believes the two events are related.

"When you look at all of the events together, you can see that it was a progression. It was a progression of pressure and she was sent in to really make that final message to me," Zimmer told CNN's "Anderson Cooper 360."

See the journal entries

Christie spokesman: Hoboken accusation false

Christie spokesman Colin Reed said it was "categorically false" that Sandy funds were withheld.

"It's very clear partisan politics are at play here as Democratic mayors with a political ax to grind come out of the woodwork and try to get their faces on television," Reed said in a statement.

Building its case against Zimmer, Christie's administration hosted a conference call for reporters Monday defending how Sandy funds were allocated.

Marc Ferzan, executive director of the Governor's Office of Recovery and Rebuilding, said that Zimmer's accounting is "a mischaracterization."

After Sandy, Hoboken was 80% underwater. Zimmer said the city received about $300,000 of the roughly $100 million in state funds the city requested for flood prevention.

Ferzan said Hoboken has been approved for nearly $70 million in aid. But that aid was given mostly to individual residents and small businesses, not the city of Hoboken.

The Hoboken allegation is the second to surface regarding Sandy money.

A federal watchdog, the inspector general for the Department of Housing and Urban Development, is looking at protocols around state spending for a marketing ad for Sandy recovery featuring Christie and his family. The Christie administration went with a firm that charged twice as much to produce the spot as another bidder.

CNN's Chris Frates, Steve Kastenbaum, Erin McPike, Jake Tapper, Paul Steinhauser and Dana Davidsen contributed to this report.

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Isnin, 20 Januari 2014

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Analysts keep 'neutral' call on NAP

Posted: 20 Jan 2014 06:56 PM PST

KUALA LUMPUR: Kenanga Research and RHB Research remain neutral on the automotive industry as they believe the just announced National Automotive Policy (NAP) 2014 initiatives will take several years to come to fruition.

In a sectorial update note, the research firm said the revised policy would have a mild impact on non-national car manufacturers given the Energy Efficient Vehicle know-how, which allows them to enjoy incentives for complete knocked down production in Malaysia.

Kenanga Research also expects a challenging operating landscape given the high penetration rate and maturity of the market.

It said Tan Chong Holdings Bhd stood as the only "buy" stock due to the strong Nissan franchise expansion and long-term regional growth story among others.

Meanwhile, RHB Research said the success of the policy would depend on whether original equipment manufacturers were sufficiently convinced to begin making more significant investments in Malaysia.

"The trickle-down impact to the auto parts industry will take time to materialise," said RHB Research.

While domestic demand will stay resilient, it noted that intense market competition and increasingly price-sensitive consumers could impact margin.

RHB Research retained its "buy" call on DRB-Hicom Bhd, Berjaya Auto Bhd and Tan Chong.

As of 10.45 am, DRB-Hicom added two sen to RM2.79, Berjaya Auto eased three sen to RM1.82 and Tan Chong was flat at RM5.60. -- BERNAMA

'DRB-HICOM a top pick in NAP play'

Posted: 20 Jan 2014 07:05 PM PST

KUALA LUMPUR: HwangDBS Research sees DRB-HICOM as a top stock pick for the automotive sector with a target price of RM3.50 given its with wide range of marques and the credible Proton turnaround plan.

Following the announcement of the NAP 2014 yesterday, the EEV tax incentives for CKD models, new manufacturing licences, various grants/loans are some of the highlights.

The NAP pledged gradual 20-30 per cent car price reduction by 2017, but with no review of the current high excise duties, while the GST to replace sales tax in 2015 may aid in lowering prices.

According to the research house, Honda has the first mover advantage.

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Leadership Lessons From Dr. Martin Luther King, Jr. - Reuters

Posted: 20 Jan 2014 08:41 AM PST

Today, we honor the memory of a visionary leader who changed American culture forever. As many people enjoy this long three-day weekend, take some time to really think about the leadership lessons and the legacy that Dr. King left behind.

The larger-than-life leadership lessons that Dr. King gave the world that are as important for entrepreneurs today as they were during Dr. King's life. It's a great way to remember why the banks are really closed today.

Leadership Lesson One: You Must Have Total Commitment to Your Cause

Dr. King was a visionary. He was a man who had a dream bigger than the times in which he lived. That is, after all, what real visionary leaders are all about. His "I Have A Dream" speech brought awareness and humanity to the national consciousness about civil rights in America.

Dr. King's stance on political activism in a non-violent way made him a natural leader and an inspirational figure. He led a social movement of equality during a time when he wasn't supported by most. In fact, he was threatened and despised by many. But he stayed committed to the vision he held. Sadly, his leadership and dream ultimately cost Dr. King his life.

Related: Slideshow: Inspiring Words From the March on Washington

But even when he knew his cause was unpopular and his life was in danger, King remained committed to his vision. He was arrested upwards of 25 times and assaulted at least four reported times.

Are you bringing that kind of total commitment to your cause? I'm not saying to get arrested, but are you bringing that level of intensity and dedication to your work? Dr. King also required his leadership team and followers to participate in nonviolent protest. He felt strongly that violence, even for their cause, was not just.

How are you ensuring your values sync up with your actions?

Leadership Lesson Two: Disrupting the Status Quo is Essential for Change

Dr. King is honored and revered today, but he wasn't embraced by society during his short life. However, Dr. King knew that his dream of equality (even when equality was not popular) was more important than the status quo. His actions backed his vision and he shook up the popular culture of the time. Sometimes doing things completely different is what's necessary for evolution and innovation.

These paradigm shifts are crucial in every aspect of social, cultural and technological change. The same way of thinking always wields the same results. Dr. King never accepted that just because things were a certain way, it made them the right way.

How can you shake up the status quo in your industry? How about in your corporate culture or business values? Be a leader and set the new standard by changing an outdated status quo in your life.

Leadership Lesson Three: Have A Dream... Then Communicate it and do it

"I am happy to join with you today in what will go down in history as the greatest demonstration for freedom in the history of our nation," spoke Dr. King as he began his address at the Washington Monument. Those were tall words for a leader to proclaim across an audience of over 250,000 people. But Dr. King had a dream and he couldn't be silent about it.

How effective is a dream if you aren't communicating it? Do you have a vision for your company? Is it prominently displayed somewhere your staff can easily see? And do you talk about how your actions, campaigns and products back up that vision?

Dreaming without doing is for childhood. Real leaders have big dreams, take big steps to communicate them, and then they go take big actions! Dr. King's actions made him one of the great leaders of the 20th century, Time Magazine's "Man Of The Year" in 1963 and a Nobel Peace Prize winner in 1964. How do you plan to turn your dreaming into doing?

Related: Daymond John of 'Shark Tank' on the No. 1 Thing Entrepreneurs Need

Obama: Pot not 'more dangerous' than alcohol - NBCNews.com

Posted: 20 Jan 2014 09:03 AM PST

By Tom Curry, National Affairs Writer, NBC News

President Barack Obama says smoking pot isn't "more dangerous" than drinking alcohol.

"As has been well-documented, I smoked pot as a kid, and I view it as a bad habit and a vice, not very different from the cigarettes that I smoked as a young person up through a big chunk of my adult life," Obama said in a lengthy profile in the current issue of the New Yorker magazine. "I don't think it is more dangerous than alcohol."    

Carolyn Kaster / AP

President Barack Obama talks about National Security Agency surveillance on Friday, Jan. 17, 2014 at the Justice Department in Washington.

Pressed by author David Remnick on the comparison, Obama said he thinks marijuana is less dangerous "in terms of its impact on the individual consumer."  But he added, "it's not something I encourage, and I've told my daughters I think it's a bad idea, a waste of time, not very healthy."

Obama also told Remnick that he is troubled that "middle-class kids don't get locked up for smoking pot, and poor kids do. And African-American kids and Latino kids are more likely to be poor and less likely to have the resources and the support to avoid unduly harsh penalties."

He did caution that the movement for legalization of marijuana raises "some difficult line-drawing issues. If marijuana is fully legalized and at some point folks say, 'Well, we can come up with a negotiated dose of cocaine that we can show is not any more harmful than vodka,' are we open to that? If somebody says, 'We've got a finely calibrated dose of meth, it isn't going to kill you or rot your teeth,' are we OK with that?"

"Those who argue that legalizing marijuana is a panacea and it solves all these social problems I think are probably overstating the case," he said  "There is a lot of hair on that policy. And the experiment that's going to be taking place in Colorado and Washington is going to be, I think, a challenge."

The president also weighed in on the dangers of playing football, saying that professional players "know what they're buying into" when they play the sport and risk concussions and brain damage.

When asked whether he felt "at all ambivalent about following" professional football, Obama responded by saying, "I would not let my son play pro football." He added, "but, I mean, you (Remnick) wrote a lot about boxing, right? We're sort of in the same realm."

"At this point, there's a little bit of caveat emptor," Obama said. "These guys, they know what they're doing. They know what they're buying into. It is no longer a secret. It's sort of the feeling I have about smokers, you know?"

In the piece, Obama also comments on the role he believes racial prejudice plays in American politics.

"There's no doubt that there's some folks who just really dislike me because they don't like the idea of a black President," he said. "Now, the flip side of it is there are some black folks and maybe some white folks who really like me and give me the benefit of the doubt precisely because I'm a black President."

He also argues that conservatives' preference for policies being decided by state governments can't be separated from the intertwined history of states' rights and slavery in the years leading to the Civil War and racial prejudice since then.

"You can be somebody who, for very legitimate reasons, worries about the power of the federal government—that it's distant, that it's bureaucratic, that it's not accountable—and as a consequence you think that more power should reside in the hands of state governments," he said.

But Obama said "that philosophy is wrapped up in the history of states' rights in the context of the civil-rights movement and the Civil War and (South Carolina Sen. John C.) Calhoun. There's a pretty long history there."

He urged progressives to not "dismiss out of hand arguments against my Presidency or the Democratic Party or Bill Clinton or anybody just because there's some overlap between those criticisms and the criticisms that traditionally were directed against those who were trying to bring about greater equality for African-Americans."

On the other hand, he said conservatives should see that "if I am concerned about leaving it up to states to expand Medicaid that it may not simply be because I am this power-hungry guy in Washington who wants to crush states' rights but, rather, because we are one country and I think it is going to be important for the entire country to make sure that poor folks in Mississippi and not just Massachusetts are healthy."

This story was originally published on

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Ahad, 19 Januari 2014

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Amesecurities keeps 'buy' call on DRB-HICOM

Posted: 19 Jan 2014 06:36 PM PST

KUALA LUMPUR: Amesecurities maintains 'buy' call on DRB-HICOM Bhd, with a fair value of RM3.65 per share, a 15 per cent discount to its SOP value of RM4.31 per share.

DRB-HICOM appears poised to experience its next phase of growth, judging from recent newsflow on the group.

Its subsidiary Proton is preparing to join the fray in the production of, and compete in, energy-efficient vehicles – a key focus of the NAP, which is scheduled to be unveiled today.

"We are of the view that this will ensure that Proton does not lose out on the incentives under NAP, while bracing itself for further liberalisation of the industry and an accompanying gradual decline in retail prices pursuant to the NAP."

THE group's unit, Puspakom Sdn Bhd holds the concession to undertake mandatory inspections of commercial vehicles.

"As we have noted, it is expected to benefit from a proposal under the NAP that passenger vehicles undergo inspections as well. The policy will initially make it a voluntary exercise."

As has been anticipated, Deftech will start recognising earnings this year from its RM7.55 billion 8x8 wheeled Armoured-Vehicle (AV8) project.

The project involves the design, development and manufacture of 257 AV8s, with production peaking in 2016 and 2017. The first AV8s will be rolled out by the middle of this year.

DRB-HICOM intends to make its newly acquired unit Konsortium Logistik Bhd (KLB) the number one logistics provider in the country. The takeover of KLB is scheduled to be completed by the current quarter.

It has also been reported that the group has yet to finalise the proposed disposal of a 30 per cent stake – out of its 70 per cent stake in Bank Muamalat Malaysia Bhd. It is looking at a few opportunities for a strategic partnership to increase the bank's penetration into Islamic finance.

Hold Puncak Niaga shares: AmeSecurities

Posted: 19 Jan 2014 06:54 PM PST

KUALA Lumpur: AmeSecurities maintains 'Hold' call on Puncak Niaga Holdings Bhd with a fair value of RM3.40 per share, as it awaits a new offer from the Federal government in the water restructuring saga.

Last Thursday, the group announced the 2014 work scope for Package B of the Pan Malaysia offshore transportation and installation (T&I) job that it had won last December.

The 2014 work scope for its wholly-owned unit, GOM Resources, comprises the installation of 282 km pipeline from onshore Kerteh, Terengganu towards the border of Malaysia/Thailand Joint Development Area, installation of pipeline tie-in skid and subsea spools, pipeline pre-commissioning, and pipeline post lay trenching and associates services.

The 12-month work scope begins in Jan, and is part of the three-year T&I job with an option to extend for another year.

GOM Resources will utilise its sole operating pipe laying derrick barge for this project.

"Management intends to purchase another derrick lay barge with the RM165 million raised from a recent convertible sukuk issuance. Management will fund the acquisition via a mix of equity and borrowings."

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NJ Gov. Christie's office denies claims of withholding Sandy aid funds - Fox News

Posted: 19 Jan 2014 08:38 AM PST

Jan. 16, 2014: New Jersey Gov. Chris Christie addresses a gathering of home owners in Manahawkin, N.J., who were affected by last year's Superstorm Sandy.AP

The office of New Jersey Gov. Chris Christie is denying claims from a mayor who said that she was blocked from millions of dollars in Superstorm Sandy recovery grants because of her refusal to sign off on a politically connected commercial development.

Hoboken Mayor Dawn Zimmer had alleged Saturday that Christie's lieutenant governor and a top community development official told her recovery funds would flow to her city if she allowed the project to move forward.

Christie's office later in the day called Zimmer's statements politically motivated

Spokesman Colin Reed said the administration has been helping Hoboken secure assistance since Sandy struck.

"It's very clear partisan politics are at play here, as Democratic mayors with a political ax to grind come out of the woodwork and try to get their faces on television," Reed said.

Reed also bashed MSNBC, which first reported Zimmer's comments.

"MSNBC is a partisan network that has been openly hostile to Gov. Christie and almost gleeful in their efforts attacking him, even taking the unprecedented step of producing and airing a nearly three-minute attack ad against him this week," he added.

Zimmer said Lt. Gov. Kim Guadagno pulled her aside at an event in May and told her Sandy aid was tied to the project -- a proposal from the New York City-based Rockefeller Group aimed at prime real estate in the densely populated city across the river from New York City.

The Democratic mayor said the Republican administration officials wanted Rockefeller's plans for the property approved, while Zimmer said she preferred to go through normal channels and hear from all stakeholders, including the public and owners of adjacent property. Rockefeller Group owns about three blocks of the 19-block area.

"I was directly told by the lieutenant governor — she made it very clear — that the Rockefeller project needed to move forward or they wouldn't be able to help me," Zimmer told The Associated Press.

"There is no way I could ethically do what the governor, through the lieutenant governor, is asking me to do," she said.

The Rockefeller Group did not immediately return a phone message left by The Associated Press. In a statement to MSNBC, a spokesman said it had no knowledge of any information related to Zimmer's claims.

Zimmer said she is willing to take a lie-detector test or testify under oath about the conversations.

A state website that tracks the distribution of Sandy aid shows that Hoboken received a $200,000 post-storm planning grant in October out of a $1.8 billion pot of money controlled by the state. Hoboken also received a $142,000 state energy resilience grant.

Besides state money, Hoboken has received $70 million in recovery funds distributed by the federal government, according to the Christie administration. Zimmer said she has applied for $100 million to implement a comprehensive plan to help insulate her city from future floods.

Christie already is embroiled in another scandal involving traffic jams apparently manufactured to settle a political score. At a recent news conference to discuss the lane closures on the approach to the George Washington Bridge, Christie brushed aside questions about his aggressive governing style. "I am who I am," said Christie. "I am not a bully."

The Associated Press contributed to this report.

Seven seriously injured in Bangkok explosion - Jerusalem Post

Posted: 19 Jan 2014 12:50 AM PST

Twenty-eight people were injured, seven of them seriously, in an explosion on Sunday at a camp of anti-government protesters in the centre of the Thai capital, medical officials said.

"There were 28 people injured from the blast at the Victory Monument," Suphan Srithamma, director general of the Bangkok Emergency Medical Center, told reporters. "Among these 7 people were seriously injured."

The incident was the latest violence in more than two months of protests in Bangkok aimed at bringing down the government of Prime Minister Yingluck Shinawatra.

On Friday night, one protester was killed and 35 wounded when a grenade exploded. The memorial service for the man killed in that explosion was being held on Sunday afternoon.

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Sabtu, 18 Januari 2014

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UPDATE 13-IMF, UN officials among 21 killed in Kabul suicide attack - Reuters

Posted: 18 Jan 2014 09:21 AM PST

* Taliban claims responsibility, says revenge killing

* Police say up to 21 dead, mostly foreigners

* Dead include U.S. citizens, two Britons, two Canadians

* Restaurant popular among expatriates in Afghan capital (Adds details on U.S. casualties, White House statement)

By Jessica Donati and Mirwais Harooni

KABUL, Jan 18 (Reuters) - A Taliban suicide bomber and gunmen attacked a restaurant popular with foreigners in the heart of the Afghan capital Kabul, killing 21 people including three United Nations staff and the IMF's top representative in Afghanistan.

Gunmen burst into the Lebanese restaurant spraying diners with bullets after the bomber blew himself up near the entrance around 7.30 p.m. on Friday, just as people sat down to dinner.

Thirteen foreigners were among those killed, according to police, and details about the victims began to trickle through on Saturday.

The U.S. embassy said on Twitter at least two U.S. private citizens were killed. Britain and Canada confirmed they each lost two nationals. Denmark said one of its citizens also died.

The American University of Afghanistan said two of its U.S. employees died in the attack on La Taverna du Liban, a popular dining spot whose charismatic owner, Kamal Hamade, was also killed.

"We are devastated by the news,' Michael Smith, president of AUAF, said in a statement.

After the initial blast, sporadic bursts of gunfire were heard over the next hour. The two gunmen inside the Lebanese restaurant, located in Kabul's diplomatic enclave, were shot dead by police, an Afghan official said.

Most foreign forces are preparing to leave Afghanistan this year after more than a decade of war. Afghanistan watchers fear the Taliban will intensify attacks in the run-up to an election in April to find a successor to President Hamid Karzai.

At odds with Washington over the terms of the bilateral security pact that governs the withdrawal, Karzai is still deliberating whether to allow some U.S. troops to stay on.

If no agreement is reached, Afghan forces could be left to fight the insurgents on their own.

The Taliban claimed responsibility for Friday's attack, calling it revenge for a U.S. air strike earlier this week that had also drawn condemnation from Karzai as eight civilians were killed.

The White House condemned the violence.

"There is no possible justification for this attack, which has killed innocent civilians, including Americans, working every day to help the Afghan people achieve a better future with higher education and economic assistance at the American University, United Nations, International Monetary Fund and other organizations," it said in a statement.

FAVOURITE HAUNT

Several kitchen staff survived by fleeing to the roof, where they hid until they were rescued by police.

"When I was in the kitchen, I heard an explosion outside. Then all the guys escaped up and I went to the roof and stayed with my back to the chimney for two or three hours," said Suleiman, a cook at the Lebanese restaurant.

By midnight, the operation to clear the area was still underway, with police nervously flashing lasers at passing cars and people on the dark, dusty streets.

The restaurant had been running for several years, and was a favourite haunt for foreigners, including diplomats, contractors, journalists and aid workers.

A couple of armed guards were usually on duty at the front entrance, which led to a courtyard in front of the main ground floor dining room.

The suicide bomb attack took place at that entrance, but accounts differed over where the gunmen had entered from.

"The target of the attack was a restaurant frequented by high-ranking foreigners... where the invaders used to dine with booze and liquor in the plenty," Taliban spokesman Zabihullah Mujahid said in an e-mailed statement, written in English.

Karzai issued a statement on Saturday condemning the attack, using the opportunity to swipe at the United States for not doing enough to fight "terrorism".

"If NATO forces led by the United States of America want to be united and partner with the Afghan people, they have to target terrorism," he said in a statement. Karzai believes Washington could do more to persuade the Taliban to begin direct peace talks with his government.

UN PEACE SEEKER KILLED

The International Monetary Fund's (IMF) representative in Afghanistan, 60-year-old Lebanese national Wabel Abdallah, was one of the diners killed. He had led the Fund's office in Kabul since 2008.

"This is tragic news, and we at the Fund are all devastated," Managing Director Christine Lagarde said in a statement. "Our hearts go out to Wabel's family and friends, as well as the other victims of this attack."

The United Nations initially said four staff were killed, counting the IMF's representative in the total. The other three included a Russian, an American and a Pakistani.

The Russian was the senior U.N. political officer in trying to negotiate a start to peace talks with the Taliban.

"You can imagine the effect it has had on staff members here," U.N. spokesman Ari Gaitanis told Reuters.

A British Foreign Office spokeswoman said two Britons were killed in the attack. Del Singh, a British opposition Labour Party candidate for the European Parliament, was one of British victims, and the other was serving with the EU Police Mission in Afghanistan. A Dane serving with the mission also died.

Canadian Foreign Affairs Minister John Baird said two Canadians were killed, but it was unclear which organisation they worked for.

The U.S. embassy Twitter post specified the dead Americans were private citizens, and State Department spokeswoman Jen Psaki also said no-one from the embassy staff was killed.

Foreign casualties were taken to a military base in Kabul. At a hospital morgue near the attack, Afghans screamed and cried as they mourned attack victims, some pressing scarves to their faces to stifle sobs. One young man, grieving for his dead father, kicked a wall and howled.

"One of the restaurant's cooks was wounded," said a doctor, Abdul Bashir. "Two dead bodies have been taken to the morgue."

While the south and southeast of Afghanistan have been the main theatres of action in a war that has dragged on for more than a decade, Kabul has suffered regular attacks.

Taliban fighters mounted several attacks in the capital during the summer months last year, but the assault on Friday inflicted far higher casualties. (Writing by Maria Golovnina; Additional reporting by Erik Kirschbaum in Berlin; Louis Charbonneau in New York; Anna Yukhananov, Lesley Wroughton and Steve Holland in Washington; Editing by Simon Cameron-Moore and Sonya Hepinstall)

Clapper declassifies more spying docs after Obama speech - Fox News

Posted: 18 Jan 2014 09:11 AM PST

FILE: Sept. 26, 2013: Director of National Intelligence James Clapper testifies on Capitol Hill in Washington.AP

Just hours after President Obama laid out changes on Friday to the nation's surveillance practices, his administration released more once-secret national security documents -- this time on the origins and approval of the controversial bulk telephone-data-collection program.

Director of National Intelligence James Clapper said he released the documents in response to Obama's directive to declassify and make public as much information as possible about the government's sensitive surveillance program over the last six months. The documents can be found on the Office of the DNI's website.

Obama issued that order in response to an international firestorm over the sweeping nature of the nation's spying that kicked up last summer when former National Security Agency contractor Edward Snowden began disclosing details of the surveillance programs.

In his speech Friday, Obama said the NSA will need approval from the Foreign Intelligence Surveillance Court each time it searches the trove of phone data. Under the current system, cleared NSA analysts have had ready access to the phone records in an online archive since 2006 when the court first approved the FBI's request to begin the bulk phone records collection.

One of the newly-released documents, dated Aug. 18, 2006, details how the FISC court approved a request from then-FBI Director Robert Mueller for "all call-detail records" or "telephony meta data."

In the document approving the metadata collection program, the court said the data requested includes "comprehensive routing information, including but not limited to session identifying information (e.g., originating and terminating telephone number, communications device identifier, etc.), trunk identifier, telephone calling card numbers and time and duration of call."

It also specifies that the data will not include "substantive content of any communication" or the name, address or financial information of a subscriber or customer.

The latest declassification and release of intelligence agency records brings the total of documents made public to 2,300 pages, including orders and opinions of the FISC and pleadings before it, documents the intelligence community provided to Congress, training slides and other internal memos describing the legal basis for the programs and how they operate.

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