Rabu, 29 Januari 2014

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Gold up RM1.68 as at 9.30am

Posted: 29 Jan 2014 06:10 PM PST

[unable to retrieve full-text content]The physical price of gold as at 9.30am stood at RM131.59 per gramme, up RM1.68 from RM129.91 at 5pm yesterday.-- Bernama

Short-term rates to remain stable

Posted: 29 Jan 2014 06:14 PM PST

Short-term interbank rates are likely to remain stable today following Bank Negara Malaysia's intervention to absorb excess liquidity from the financial system.

The central bank estimated today's liquidity at RM30.561 billion in the conventional system and RM11.699 billion in Islamic funds.
Bank Negara will conduct a RM7 billion range maturity auction for five days to 60 days and two repo tenders comprising RM300 million for 29 days and RM700 million for 60 days.

The bank will also call for a RM3.5 billion Wadiah tender for seven days to 43 days.

At 4pm, the central bank will conduct up to RM22.6 billion in conventional overnight tenders and a RM8.2 billion Al-Wadiah overnight tender.-- Bernama

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House passes farm bill preserving crop subsidies - Fox News

Posted: 29 Jan 2014 09:14 AM PST

The House on Wednesday approved a nearly $100 billion-a-year farm bill that would make small reductions in the growth of food stamp spending while continuing generous subsidies for the nation's farmers. 

The vote was 251-166. The five-year bill now goes to the Senate for final approval. 

Leaders scheduled a quick vote after the nearly 1,000-page bill was introduced Monday, giving opponents little time to build opposition. 

Agriculture Committee chairman, Rep. Frank Lucas, R-Okla., and Senate Agriculture Chairwoman Debbie Stabenow, D-Mich., have spent the past two years crafting a bill to appeal to members from all regions of the country, including a boost in money for crop insurance popular in the Midwest; higher rice and peanut subsidies for Southern farmers; and renewal of federal land payments for Western states. 

Some House conservatives were not happy with the new bill. They originally wanted to dial back food stamp spending by $4 billion a year; the new bill cuts $800 million a year -- which represents about 1 percent of the $80 billion-a-year program. 

The final food stamp savings are generated by ending a practice in some states of boosting individual food stamp benefits by giving people a minimal amount of federal heating assistance they don't need. The cuts were brought down to $800 million a year to come closer to the Senate version of the bill, which had $400 million in annual food stamp cuts. The House bill passed in September would have cut $4 billion a year. 

The legislation would also eliminate a $4.5 billion-a-year farm subsidy called direct payments, which are paid to farmers whether they farm or not. The bill would continue to heavily subsidize major crops -- corn, soybeans, wheat, rice and cotton -- while shifting many of those subsidies toward more politically defensible insurance programs. That means farmers would have to incur losses before they received a payout. 

The bill would save around $1.65 billion annually overall, according to the Congressional Budget Office. The amount was less than the $2.3 billion annual savings the agriculture committees originally projected for the bill. 

The Associated Press contributed to this report.

Rare winter storm leaves students, drivers stranded in Deep South - Fox News

Posted: 29 Jan 2014 09:16 AM PST

Rescue efforts are under way Wednesday after thousands of schoolchildren and hundreds of drivers in the Deep South spent the night stranded at schools and along ice-covered highways following a rare winter storm that brought freezing rain, snow and bitter cold to the region.

Atlanta Mayor Kasim Reed says "a lot of people" are still stranded in their cars on the highways nearly 24 hours the storm slammed the city, but he is not sure of exactly how many people.

Georgia Gov. Nathan Deal said the Georgia State Patrol is also sending troopers to schools where children remain stuck after spending the night in classrooms. He also said state transportation crews are continuing to treat roads and bring gas to stranded motorists, adding that the state's goal Wednesday is to make sure every stranded driver gets offered the opportunity to go somewhere safe and warm.

There were several reports of stranded school buses in Gordon County, but there were no reports of any serious injuries, according to MyFoxAtlanta.com. Atlanta officials said they had gotten all of the students who spent the night in school buses off of the buses and to safe places, such as fire stations.

While some parents were able to pick up their children at schools on Tuesday, thousands of other students in Alabama and Georgia skipped the roads altogether, spending the night in schools.

In Hoover, Ala., school superintendent Andy Craig said 4,500 students spent the night in facilities there, MyFoxAL.com reports. In nearby Birmingham, Mayor William Bell said Tuesday around 1,200 students would be staying overnight in area schools, with access to food and water.

Northeast of Birmingham in Etowah County, police used a military-style armored vehicle to take home 14 children who weren't able to leave a high school. And about 20 miles north, around 110 children and 30 adults camped out on exercise mats in classrooms at Oak Mountain Intermediate School, said principal Pat LeQuier.

Hundreds of students also remain stuck Wednesday at schools in the Atlanta area, the Atlanta-Journal Constitution reports.

The mad rush began at the first sight of snow: Across the Atlanta area, schools let out early and commuters left for home after lunch, instantly creating gridlock as highways surrounding the city that rarely see snow were converted into treacherous paths of ice.

Reed said at a press conference Wednesday that it was an error to let everyone out at once.

"If we had not had everyone exiting at the same time and going en route to pick up their children, then I don't think we would have had the kind of gridlock that people are seeing around the nation, which are highways that are full," he said.

The gridlock was so bad in Atlanta that a baby girl was delivered alongside Interstate 285, said Capt. Steve Rose, a spokesman for Sandy Springs police in suburban north Atlanta. He said an officer made it to the mother and her husband in time to help with the delivery, which he described as "flawless." There were no complications and the family was taken to a hospital.

Chris Kennedy says it took him more than 5 hours to get a school near his house in the northwest Atlanta suburb of Acworth. The trip typically takes 10 minutes.

Before dawn Wednesday, nearly 50 work crews focused on metro roadways "and are hopeful Wednesday will bring a full recovery," the Georgia Department of Transportation said in an emailed update at 6 a.m. Wednesday.

"Clean-up efforts continue on metro Atlanta freeways and other roads in north and central Georgia and significant progress is being made," state transportation officials said in a Wednesday morning update.

Around Atlanta, nearly all public entities and most businesses were shut down early Wednesday. Officials encouraged would-be motorists not to drive. City buses were not running, and some commuters who opted for rail service met new frustrations as they stood on platforms awaiting trains into the city center.

Forecasters said temperatures should rise above freezing Wednesday, but not by much so it was unknown whether roads would thaw enough to allow traffic to move normally.

In Alabama, public safety officials spent the night rescuing around 100 people on interstates and back roads, MyFoxAL.com reports.

Alabama Gov. Robert Bentley's office said rescue personnel and medics in state aircraft were flying over Jefferson and Shelby counties Wednesday conducting search and rescue missions for stranded motorists.

Others who were still stuck in roads throughout Alabama went to Facebook, posting information about stranded motorists, while Good Samaritans offered to help.

"I'm in the Hoover are and ready to help. Have a warm house and a capable Jeep. Can bring gas, supplies, offer a ride, pull out a car or whatever it is you need," wrote one resident.

Overnight, the South saw fatal crashes and hundreds of fender-benders. Jackknifed 18-wheelers littered Interstate 65 in central Alabama. Ice shut down bridges on Florida's panhandle and the Lake Pontchartrain Causeway, one of the world's longest spans, in Louisiana. Some commuters pleaded for help via cellphones while still holed up in their cars, while others trudged miles home, abandoning their vehicles outright.

Linda Moore spent 12 hours stuck in her car on Interstate 65 south of Birmingham before a firefighter used a ladder to help her cross the median wall and a shuttle bus took her to a hotel where about 20 other stranded motorists spent the night in a conference room.

"I boohooed a lot," she said. "It was traumatic. I'm just glad I didn't have to stay on that Interstate all night, but there are still people out there."

As of Wednesday, Georgia State Patrol responded to 1,254 accidents, according to Commissioner Mark W. McDonough. He said 130 injuries were reported along with one weather-related death.

Alabama State troopers have also identified three people killed in traffic accidents that they say may have been weather-related. And in Mississippi, four people were killed in a mobile home fire blamed on a space heater.

The rare Southern winter storm dropped more than 3 inches of snow in some areas of north Georgia, while 2.3 inches were recorded at Hartsfield Jackson International Airport, said National Weather Service meteorologist Ryan Willis.  

For a second-straight day, the world's busiest airport in Atlanta was leading all other airports in the number of canceled flights. By Wednesday morning, more than 600 flights in and out of Hartsfield-Jackson Atlanta International Airport were canceled, according to the flight tracking website FlightAware.com.

No flights were coming into or going out of Birmingham-Shuttlesworth International Airport Wednesday morning, its website said. Flight cancellations were also piling up at Chicago's O'Hare International Airport, where temperatures early Wednesday were in the teens.

The extreme cold makes it difficult for airport crews to de-ice planes.

The governors of North Carolina, South Carolina, Georgia, Alabama, Louisiana and Mississippi all declared states of emergency. Shelters opened up across the region and many schools remained closed Wednesday.

Charleston, S.C.; Savannah, Ga.; Pensacola, Fla.; Virginia Beach, Va.; and New Orleans -- popular warm-weather tourist destinations where visitors can usually golf and play tennis in shirt sleeves or light jackets this time of year -- were expecting ice and snow on Wednesday.

Meanwhile, in the Midwest, dangerous cold continued to grip the region even as the storm moved south. Many schools closed for the second straight day. In Minnesota, forecasters said wind chills could reach 35 to 50 degrees below zero.

The Associated Press contributed to this report.

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Selasa, 28 Januari 2014

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Ringgit opens higher against US dollar

Posted: 28 Jan 2014 05:57 PM PST

The ringgit continued to trade higher against the US dollar in early trading today on strong demand for the local currency on the back of the weakening greenback, dealers said.

As at 9am, the ringgit was quoted at 3.3214/3245 versus the US dollar from yesterday's 3.3335/3365 close.

A dealer said investors stayed on the sidelines awaiting the results of the US Federal Open Market Committee meeting later today before taking any major positions on the "safe-haven" currency, making the ringgit and other Asian currencies more attractive.

"Any outcome from the meeting will likely decide the market direction, especially for Asian currencies in view of the uncertainties in the global market," he added.

Against other major currencies, the ringgit was traded mostly higher.

The local unit appreciated against the Singapore dollar to 2.6083/6128 from 2.6186/6218 yesterday and rose against the yen to 3.2200/2245 from 3.2386/2425 Tuesday.

The ringgit was also traded higher against the British pound to 5.5046/5110 from 5.5346/5406 on Tuesday and improved against the euro to 4.5354/5403 from 4.5542/5590 yesterday.-- Bernama

KL shares remain steady mid-mroning

Posted: 28 Jan 2014 06:02 PM PST

Share prices on Bursa Malaysia remained steady at mid-morning spurred by buying interest across the board.

At 11am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 8.41 points better at 1,789.66 points after opening 0.52 of-a-point lower at 1,780.73 points.

Leading the top gainers list, United Plantations surged 38 sen to RM25.98, British American Tobacco soared 24 sen to RM60.64 and Nestle rose 20 sen to RM67.48.

Meanwhile, Maybank added 11 sen to RM9.69, TNB gained 4.0 sen to RM11.20 and CIMB inched up 5.0 sen to RM6.89.

Among actives were KNM Group, which gained as much as 5.26 per cent or 3.0 sen to 60 sen, and Green Packet garnered half-a-sen to 45.5 sen.

Market breadth was positive as gainers outpaced losers 361 to 145, with 221 counters unchanged, 877 untraded and 30 others suspended.

Turnover totalled 500.09 million shares worth RM451.65 million.

On the scoreboard, the Finance Index rose 113.29 points to 16,399.76 points, the Plantation Index garnered 47.71 points to 8,410.24 points and the Industrial Index was 13.31 points lower at 3,043.83 points.

The FBM Emas Index added 57.85 points to 12,362.51 points, the FBMT100 Index rose 53.06 points to 12,079.39 points, the FBM 70 was up 45.77 points to 13,654.09 points and the FBM Ace increased 49.89 points to 5,873.33 points.-- Bernama

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Obama's State of the Union: Heavy on promises, mixed record on results - Fox News

Posted: 28 Jan 2014 08:48 AM PST

FILE:Jan. 23, 2014: President Obama in the East Room of the White House in Washington, D.C.AP

President Obama will announce a host of proposals to reshape America in his annual State of the Union address on Tuesday. But if past is prologue, only a handful of them will come close to execution.

From repeated calls to lower the corporate tax rate to last year's declaration that the "time has come" to pass immigration reform, Obama's State of the Union vows frequently have either run into congressional gridlock or been drowned out by other priorities.

This year's laundry list of promises is expected to focus on addressing "income inequality" and other economic issues. Obama will try to forge ahead with a few holdovers while quietly dropping several initiatives touted in his 2013 speech.

One item prominent in last year's address, which came on the heels of the Newtown school shooting, was a pitch for tighter gun control. Though Obama may revisit it in Tuesday's address, the push largely has been dropped after an intense but ultimately failed effort to get legislation passed on Capitol Hill.

Tax and entitlement reform also were big agenda items in last year's State of the Union address, but have lately fallen by the wayside -- considering White House officials who spent the weekend previewing the address did not mention them as a priority.

Obama, instead, will for the third straight year make the major theme of his address economic opportunity and bridging the income inequality gap for the poor and middle class.

However, he appears likely to make a subtle shift, focusing more on worker protections and job training than job creation. The White House says Obama will announce that he will sign an executive order increasing the minimum wage from $7.25 to $10.10 for new federal contracts. 

The initiative dovetails with Obama's broader call for an increase to the federal minimum wage, something he also touched on last year. 

"Let's declare that in the wealthiest nation on Earth, no one who works full-time should have to live in poverty and raise the federal minimum wage to $9 an hour," the president said to applause in his 2013 address. 

However, the White House is now backing a congressional Democratic plan to increase the federal wage to $10.10 over three years, then indexing it to inflation. 

Senior White House adviser Dan Pfeiffer told "Fox News Sunday" that Obama will try to "restore opportunity" through a series of proposals including ones on job training, education and manufacturing.

He also pointed out that Obama's effort to create 15 manufacturing hubs across the country has had some success, despite Congress rejecting his proposal, and remains a work in progress -- with four complete, two in place and two "in the pipeline."

Amid the apparent shift, Oklahoma GOP Rep. James Lankford is questioning whether Obama really intended to follows through on all of his 2013 plans.

"I don't think he ever intended to achieve tax and entitlement reform," Lankford, chairman of the Republican Policy Committee, told FoxNews.com on Monday. "That was pure rhetoric. The shift is really from Americans saying, 'This is a nice guy but we don't think he can lead.' He's lost their trust."

His comments follows Texas GOP Sen. Ted Cruz saying Sunday that the president's existing economic policies are "not working" and "exacerbating" income equality.

Cruz, whose effort last year to defund ObamaCare fueled a partial government shutdown, is also calling on the president to announce new investigations into the fatal Benghazi attacks and the IRS scandal and to admit his economic program has failed -- and that passing ObamaCare on a party-line vote was a mistake.

"I would expect ... he would call for some accountability now [on Benghazi], that he would join me and 24 other senators who have called for a joint select committee to get some answers," Cruz told Fox News on Monday.

The president is also expected to renew his push for free pre-kindergarten for 4-year-olds and comprehensive immigration reform, which if passed would almost certainly become a hallmark of his presidency. Both those initiatives were also featured in Obama's 2013 address.

The Democrat-controlled Senate passed a comprehensive immigration bill last summer. But the Republican-controlled House has not, largely because the chamber's conservative wing has so far argued that granting citizenship to some of the country's 11 million illegal immigrants is tantamount to "amnesty."

House leaders reportedly will release a broad plan this week, but the White House has reserved comment until it is made public.

"We think it is progress that the Republicans are going to put something forward," Pfeiffer also told "Fox News Sunday." "Let's see what they put forward and hopefully we can come together and make progress."

US Republican leaders to outline immigration framework - Boehner - Reuters

Posted: 28 Jan 2014 08:36 AM PST

Photographers take pictures of U.S. House Speaker John Boehner (R-OH) (R) as he appears before reporters after a Republican caucus meeting at the U.S. Capitol in Washington, October 15, 2013. REUTERS/Jonathan Ernst

Photographers take pictures of U.S. House Speaker John Boehner (R-OH) (R) as he appears before reporters after a Republican caucus meeting at the U.S. Capitol in Washington, October 15, 2013.

Credit: Reuters/Jonathan Ernst

(Reuters) - U.S. House Republican leaders will outline their principles for immigration reform at a party meeting this week, House Speaker John Boehner said on Tuesday.

Immigration reform advocates, who saw their hopes dashed in 2013 for major legislation, have been waiting for the House Republican leadership to take such a step.

Boehner did not give any details of the principles, nor did he promise specific legislative action in the near term.

"We're going to outline our standards, principles of immigration reform and have a conversation with members," Boehner told a news conference after a party meeting near the U.S. Capitol.

"Once we talk to our members, we'll have more to say about how we move forward," Boehner said.

Boehner told his rank-and-file party members earlier this month that the party leaders were getting ready to lay out a framework for immigration reform.

But 2013 began on a similarly upbeat note after President Barack Obama cruised to re-election the previous November with the support of more than 70 percent of Hispanic voters, who have been clamoring for immigration reform.

The Democratic-run Senate last June passed a sweeping immigration bill that would give millions of undocumented immigrants a pathway to U.S. citizenship. The legislation has languished in the House, where Republicans have the majority.

Senior Republican aides have said that the House does not plan to pass a comprehensive bill like the Senate did. Instead, House Republicans will approach the subject "step by step," they say.

They have said the immigration reform framework could discuss the need for better U.S. border controls and beefing up interior security so that companies cannot easily hire undocumented workers.

Perhaps the most challenging principle to be addressed is what to do about the 11 million immigrants already in the United States illegally, many brought here as children.

And while Republicans are interested in getting more votes from Latinos, some Republicans fear that raising the controversial issue in a mid-term congressional election year could put unnecessary strains on the party.

(Reporting by Susan Cornwell; Editing by Doina Chiacu and Andrew Hay)

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Isnin, 27 Januari 2014

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Ringgit gains from weakest since 2010

Posted: 27 Jan 2014 07:21 PM PST

Malaysia's ringgit rebounded from the weakest level in almost four years and government bonds rallied as speculation Turkey will raise interest rates helped stem a selloff in emerging-market assets.

The ringgit snapped a three-day drop, strengthening along with most Asian currencies, after China's largest lender said investors in a troubled high-yield trust can recoup funds, averting the threat of a default. Bank Negara Malaysia will probably keep its policy rate on hold in 2014 to support growth even as inflation quickens, Malayan Banking Bhd analysts led by Singapore-based Saktiandi Supaat wrote in a report yesterday.

"Emerging markets have taken a bit of heart and they're looking for the central bank of Turkey to perhaps raise rates," said Nick Verdi, a currency strategist at Barclays Plc in Singapore. "This is acting as a temporary circuit-breaker to the contagion we've seen in emerging markets."

The ringgit strengthened 0.2 per cent to 3.3400 per dollar as of 10.07am in Kuala Lumpur, according to data compiled by Bloomberg. It touched 3.3485 yesterday, the weakest level since May 26, 2010, as foreign funds pulled money from developing nations on the prospect of further cuts in US stimulus and concern that China may be headed for a significant slowdown. The ringgit will drop to 3.35 by the end of June, according to the Maybank report.

One-month implied volatility, a measure of expected moves in the exchange rate used to price options, fell 12 basis points, or 0.12 percentage point, to 7.92 per cent.

Malaysia's central bank will maintain its benchmark rate at three per cent tomorrow, according to all 17 economists surveyed by Bloomberg. Inflation accelerated to a two-year high of 3.2 per cent in December after the government raised fuel and sugar prices last year.

Fed policy makers start a two-day meeting today, at which they may lay out plans for a further reduction in bond buying after they pared the program this month by US$10 billion to US$75 billion. Global funds held 29 per cent of Malaysian sovereign debt at the end of November, official data show, making the nation relatively vulnerable to foreign outflows. That compares with 32 per cent in Indonesia and 18 percent in Thailand.

The yield on Malaysia's 3.26 per cent sovereign bonds due March 2018 fell two basis points to 3.74 per cent, according to data compiled by Bloomberg. That followed a five-day streak in which the yield rose 15 basis points. The cost of insuring the nation's government debt for five years using credit-default swaps was steady at 128 yesterday, the highest level since October, CMA prices show.-- Bloomberg

Ringgit opens higher versus US dollar

Posted: 27 Jan 2014 05:44 PM PST

The ringgit was traded higher against the US dollar, in early trading today, due to mild buying interest for the local
currency, dealers said.

As at 9am, the ringgit was quoted at 3.3340/3370 versus the greenback from yesterday's 3.3465/3480.

A dealer said trading was expected to remain quiet today as investors were on the sidelines awaiting the outcome of the US Federal Open Market Committee meeting this week for an indication on when it will begin tapering its stimulus measures.

Against other major currencies, the ringgit was traded higher.


The local unit appreciated against the Singapore dollar to 2.6167/6195 from 2.6210/6226 yesterday and rose against the yen to 3.2457/2493 from 3.2636/2667 on Monday.

The ringgit was traded higher against the British pound at 5.5241/5311 from 5.5291/5322 on Monday and strengthened against the euro to 4.5579/5627 from 4.5844/5871 yesterday.-- Bernama

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Royal Caribbean Ship to Return Early for Sick Passengers - Bloomberg

Posted: 27 Jan 2014 06:29 AM PST

Royal Caribbean Cruises Ltd. (RCL) said one of its ships will return home from the Caribbean two days early after hundreds of passengers and crew became sick.

Almost 19 percent of passengers on board the Explorer of the Seas -- 577 out of 3,050 -- had gastrointestinal illnesses such as diarrhea, the U.S. Centers for Disease Control and Prevention said on its website. Forty-nine of the 1,165 crew members also were sick, said the CDC, who sent officials on the ship yesterday in the Virgin Islands to assess the situation.

The outbreak "appears to be" the norovirus, Adam Goldstein, chief executive officer of the Royal Caribbean International line, said today on a conference call, referring to the contagious stomach bug. "This has been a difficult situation."

The ship left Cape Liberty, New Jersey, on Jan. 21 for a 10-day cruise in the Caribbean and now will return Jan. 29. Royal Caribbean said the ship, once home, will undergo a complete sanitization, its third since the outbreak began.

"The right thing to do is to bring our guests home early, and use the extra time to sanitize the ship even more thoroughly," the Miami-based company said yesterday in a statement. "Our doctors tell us symptoms are consistent with that of norovirus, but that they are awaiting the results of tests to confirm that diagnosis."

Photographer: Roberto Schmidt/AFP via Getty Images

Almost 19 percent of passengers on board Royal Caribbean Cruises Ltd.'s Explorer of the... Read More

Almost 19 percent of passengers on board Royal Caribbean Cruises Ltd.'s Explorer of the Seas -- 577 out of 3,050 -- had gastrointestinal illnesses such as diarrhea, the U.S. Centers for Disease Control and Prevention said on its website. Close

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Photographer: Roberto Schmidt/AFP via Getty Images

Almost 19 percent of passengers on board Royal Caribbean Cruises Ltd.'s Explorer of the Seas -- 577 out of 3,050 -- had gastrointestinal illnesses such as diarrhea, the U.S. Centers for Disease Control and Prevention said on its website.

Ship Outbreaks

Bernadette Burden, a CDC spokeswoman, said agency personnel were meeting with the ship's crew and medical staff in St. Thomas to get an updated case count, as well as review and validate the initial reports of sickness.

"This isn't an unusual occurrence," Burden said in a telephone interview. "We often meet up with cruise ships in mid-voyage."

Last year, at least nine vessels -- including ships operated by Royal Caribbean's Celebrity Cruise line and Carnival Corp.'s (CCL) Princess Cruises -- were struck by illness outbreaks, according to the CDC. Seven were caused by the norovirus.

The norovirus can be spread from an infected person to food or water, or by touching contaminated surfaces. It causes the stomach or intestines, or both, to become inflamed, leading to pain, nausea and diarrhea, according to the CDC. The seven outbreaks of the virus reported to the CDC in 2013 affected 1,238 passengers, according to the Cruise Lines International Association.

Passenger Compensation

Passengers on the Explorer of the Seas will be compensated, Goldstein said on today's call, without providing further details. The incident won't affect the company's first-quarter results, he said.

Separately, Royal Caribbean today reported fourth-quarter profit that exceeded analysts' estimates and boosted its full-year forecast. Adjusted earnings per share for 2014 will be $3.20 to $3.40, up from a prior projection of $3.06, the company said in a statement, without mentioning the Explorer. The average of analysts estimates compiled by Bloomberg was $3.19.

Fourth-quarter profit excluding restructuring and other charges totaled 23 cents a share. Analysts projected 19 cents.

The stock rose 0.7 percent to $47.45 at 11:44 a.m. in early trading and had increased 39 percent last year.

To contact the reporters on this story: Dan Hart in Washington at dahart@bloomberg.net; Kevin Miller in Chicago at kmiller@bloomberg.net

To contact the editor responsible for this story: Andrea Snyder at asnyder5@bloomberg.net

Bach defines when athletes can protest in Sochi - Times of India

Posted: 27 Jan 2014 09:19 AM PST

LAUSANNE: International Olympic Committee (IOC) president Thomas Bach said on Monday athletes could make political statements if they so wished at press conferences during the forthcoming Sochi Winter Olympic Games but not during the events themselves.

The run up to the first Winter Games in Russia -- which get underway in the Black Sea resort on February 7 -- have been mired in controversy amid corruption allegations, terror threats, and a Russian law banning gay propaganda among minors.

However, the 60-year-old German, who was elected as Jacques Rogge's successor in Buenos Aires last September, said that as with every Games, athletes could be punished if they made political statements or gestures during competition or at a medals ceremony, but they were free to say whatever they wished at the press conferences.

"It is very clear, the Games cannot be used as a stage for political demonstrations however good the cause may be," Bach told the press in a conference call on Monday.

"The IOC will take, if necessary, individual decisions based on individual cases.

"It is also clear, on the other hand, the athletes enjoy the freedom of speech so if in a press conference they wanted to make a political statement then they are absolutely free to do so."

Bach, who won Olympic gold in fencing in 1976, said in reply to a suggestion that he was advising athletes to make their point at news conferences rather than the medals podium: "If you are drawing this conclusion I would not say anything against it."

However, Bach said that as was usual with all Olympic Games, the concerns and dramas before it started would dissipate once the event got underway.

"When the athletes will be in Sochi, it will become clearer and clearer that the Olympic Games are first of all about the athletes and about sport.

"You will see this in the opening ceremony, and even more then when the sport competitions are starting, it will become evident for everybody.

"There are always before the Games political discussions, we have concerns but I think the people around the world know this is first of all about sport and therefore I am really confident that we will have, in this respect, a very good atmosphere."

Bach, who will be overseeing his first Games as Olympic boss in Sochi, said he was confident the Games would go well.

"I am looking forward to these first Winter Games under my presidency and I am very, very confident that they are going to be successful."

Bach, a lawyer by profession, said that the huge security operation being put in place by the Russian Government was necessary, but he was confident it would not impinge on the spectators' enjoyment of the sporting spectacle.

"We have full confidence in the Russian authorities. "You need high security and we know this situation. "If you look back at Salt Lake City, just a couple of months after 9/11, we also had thousands of security officers around the place and the people appreciate (it) and think that the security is being taken care of.

"I think the Russian security forces will manage this in a way that it does not affect the Olympic atmosphere like for instance, the security officers in Salt Lake City managed."

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Ahad, 26 Januari 2014

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Gold up RM1.78 per gramme

Posted: 26 Jan 2014 06:22 PM PST

[unable to retrieve full-text content]The physical price of gold as at 9.30am stood at RM132.22 per gramme, up RM1.78 from RM130.44 at 5pm last Friday.-- Bernama

Short-term rates to remain stable

Posted: 26 Jan 2014 06:26 PM PST

Short-term interbank rates are likely to remain stable today following Bank Negara Malaysia's intervention to absorb excess liquidity from the financial system.

The central bank estimated today's liquidity at RM23.413 billion in the conventional system and RM3.096 billion in Islamic funds.

Bank Negara will conduct four conventional money market tenders comprising RM2 billion for two days, RM1 billion each for eight days and 14 days, respectively, and RM500 million for 28 days.

The bank will also call for RM600 million repo tender for 31 days and two Al-Wadiah tenders worth RM600 million for nine days and RM500 million for 28 days.

At 4pm, the central bank will conduct up to RM18.3 billion conventional overnight tenders and a RM2.0 billion Al-Wadiah overnight tender.-- Bernama
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