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Egypt tensions over Morsi spill into clashes

Posted: 12 Oct 2012 04:31 PM PDT

CAIRO: Supporters of President Mohamed Morsi clashed with opponents in Cairo’s Tahrir Square yesterday in the worst violence over Egypt’s new Islamist leader, a day after he crossed swords with the judiciary.

Morsi’s Muslim Brotherhood movement and a coalition of secular leaning groups held separate rallies on some of the thorniest issues facing the new democracy after last year’s uprising which ousted president Hosni Mubarak.

The health ministry said at least 12 people were wounded as protesters showered each other with stones, after Morsi supporters tore down a podium from which anti-Brotherhood chants were being orchestrated.

The violence broke out as Morsi faced a backlash from judges after trying to sack the chief prosecutor following this week’s acquittals of Mubarak-era officials on trial for a deadly attack on protesters during the 2011 uprising.

In a speech in the coastal city of Alexandria, Morsi pledged to bring to justice the officials accused of organising the killings of protesters during the uprising that eventually brought his once-banned movement to power.

“We will never ignore those who committed crimes against the nation and corrupted it,” he said in the speech reported by the official MENA news agency.

But other groups that had taken part in the 18-day uprising and now oppose Morsi accuse the Islamists of dominating political life, particularly a crucial body that is drafting Egypt’s new constitution.

Morsi narrowly won a June election which presented voters with an unpopular choice between an Islamist president and Ahmed Shafiq, Mubarak’s last prime minister.

Friday’s clashes were the most violent in a simmering struggle between Morsi’s movement and his opponents, who range from Mubarak loyalists to groups which spearheaded the revolt against the former dictator.

He also faces intense opposition from powerful judges who accuse him of trying to detract from their authority.

Judges enraged

An influential group of Egyptian judges backed state prosecutor Abdel Meguid Mahmud’s refusal to resign after Morsi ordered his removal on Thursday, the official Al-Ahram newspaper reported.

Morsi’s bid to remove Mahmud bypassed checks on presidential control of the prosecutor, further enraging judges after the president had unsuccessfully tried to reverse a court order disbanding the Islamist-dominated parliament.

Ahmed al-Zind, head of the Judges’ Club, said the judiciary was backing Mahmud to uphold “the sovereignty of the law and the principle of separation of powers,” Al-Ahram reported.

He said the judges would hold an emergency meeting “to confront the current crisis that aims at harming the judiciary.”

Morsi had pledged to retry Mubarak and his senior officials for their roles in the killing of protesters during the revolt, after trials that critics said had been bungled by the state prosecutor’s office.

On Wednesday, a court acquitted 24 people — including the former speakers of Egypt’s two houses of parliament, Safwat al-Sherif and Fathi Surur — of organising a camel-borne attack on anti-Mubarak protesters during the uprising.

The February 2, 2011, assault by pro-Mubarak supporters — some riding horses and camels — on protesters in Tahrir Square came on one of the revolt’s bloodiest days, with clashes leaving more than 20 dead.

A total of around 850 people died during the 18-day uprising.

- AFP

European Union wins Nobel Peace Prize

Posted: 12 Oct 2012 04:28 PM PDT

OSLO: The European Union won the Nobel Peace Prize on Friday for promoting peace, democracy and human rights over six decades in an award seen as a morale boost as the bloc struggles to resolve its economic crisis.

The award served as a reminder that the EU had largely brought peace to a continent which tore itself apart in two world wars in which tens of millions died.

The EU has transformed most of Europe “from a continent of wars to a continent of peace,” Nobel Committee Chairman Thorbjoern Jagland said in announcing the award in Oslo.

“The EU is currently undergoing grave economic difficulties and considerable social unrest,” Jagland said. “The Norwegian Nobel Committee wishes to focus on what it sees as the EU’s most important result: the successful struggle for peace and reconciliation and for democracy and human rights.”

Jagland praised the EU for rebuilding Europe from the devastation of World War Two and for its role in spreading stability after the fall of the Berlin Wall in 1989.

While welcomed by European leaders, the award will have little practical effect on the debt crisis afflicting the single currency zone, which has brought economic instability and social unrest to several states with rioting in Athens and Madrid.

On the streets of the Greek capital, where demonstrators have burned Nazi flags to protest against German demands for austerity, the award was greeted with disbelief.

“Is this a joke?” asked Chrisoula Panagiotidi, 36, a beautician who lost her job three days ago. “It’s the last thing I would expect. It mocks us and what we are going through right now. All it will do is infuriate people here.”

The prize, worth $1.2 million, will be presented in Oslo on December 10. It was not immediately clear who from the EU would be there to collect the cheque and what it would be spent on.

Conceived in secret

Conceived in secret at a chateau near Brussels, what is now the European Union was created by the 1957 Treaty of Rome, signed with great fanfare in the Italian capital’s 15th century Palazzo dei Conservatori.

The six-state ‘common market’ it founded grew into the 27-nation European Union ranging from Ireland’s Atlantic shores to the borders of Russia.

At the time the Cold War was in full swing after Soviet tanks put down an anti-communist rebellion in Budapest. Western countries led by the United States had formed NATO and the Kremlin responded with the Warsaw Pact.

But the EU is now mired in crisis with enormous strains between capitals over the euro, the common currency shared by 17 nations and created to further economic and monetary union.

Politicians in Germany, one of the main forces behind the foundation of the EU, were delighted with the award.

German Chancellor Angela Merkel, Europe’s most powerful leader, said it was a “wonderful decision”. French President Francois Hollande, whose country has with Germany formed the EU’s main axis of power, said it was an “immense honor”.

Helmut Kohl, the chancellor who reunified Germany and pushed the country into the euro, said: “The Nobel Peace Prize for the EU is above all a confirmation of the European peace project,”

After centuries of war on the continent the EU has been at peace within its borders, but its effort to stop war in former Yugoslavia — an initiative hailed by one minister as “the hour of Europe” — was a failure.

The British government, less committed to the European ideal than other EU members, made no comment on the prize. Ed Balls, a senior member of the opposition Labour Party, remarked sarcastically: “They’ll be cheering in Athens tonight, won’t they?”

Nigel Farage, leader of Britain’s fiercely eurosceptic UKIP party, added: “This goes to show that the Norwegians really do have a sense of humor.”

I find this absurb

In Madrid, Francisco Gonzalez expressed bafflement. “I don’t see the logic in the EU getting this prize right now. They can’t even agree among themselves,” the 62-year-old businessman said.

In Berlin, public relations worker Astrid Meinicke, 46, was also skeptical. “I find it curious. I think the EU could have engaged itself a bit better, especially in Syria ,” she said, near the city’s historic Brandenburg Gate.

In the home of the peace prize, many Norwegians are bitterly opposed to the EU, seeing it as a threat to the sovereignty of nation states. “I find this absurd,” the leader of Norway’s anti-EU membership organization Heming Olaussen told state broadcaster NRK.

Norway has twice voted “no” to joining the EU, in 1972 and 1994. The country has prospered outside the bloc, partly thanks to huge oil and gas resources.

Among those tipped to win was Russia’s small Ekho Moskvy radio, a frequent critic of the Kremlin. Editor in chief Alexei Venediktov conceded the prize to a worthy winner.

“We are only 115. They are 500 million. It is an honor (to lose to the EU),” he told Reuters.

- Reuters

EU agrees to step up Iran nuclear sanctions

Posted: 12 Oct 2012 04:25 PM PDT

BRUSSELS: EU member states agreed Friday to sharply step up sanctions against Iran over its disputed nuclear programme, focusing on dealings with its banks, trade and gas imports, diplomatic sources said.

One diplomat said the “tough package” of new sanctions will be endorsed at a meeting of EU foreign ministers in Luxembourg on Monday.

Late last month, EU foreign affairs chief Catherine Ashton said Iran had to take urgent action to allay mounting international concerns over its nuclear drive as calls for tougher action increased.

A diplomat who asked not to be named said ministers will agree for the first time to hit Iran’s telecoms sector, targetting companies believed to provide financial support for Tehran.

All dealings between European and Iranian banks will meanwhile be banned above a certain “relatively low” threshold, although exceptions will be allowed in some medical and humanitarian cases, the diplomat said.

Short-term export credit guarantees will be also barred, joining the medium- and long-term guarantees already banned.

Imports of Iranian gas will be prohibited, a symbolic gesture since the amounts involved are small, but the move sits alongside a much more significant ban on imports of Iranian oil introduced in July.

Sales of graphite or aluminium which could be used in Iran’s nuclear or ballistic missile programmes are also to be closed down, with other measures targetting its shipping industry.

An extra 30 companies will be put on a list of firms hit by an EU assets freeze.

- AFP

Foreign policy jabs lay ground for Obama, Romney

Posted: 12 Oct 2012 04:24 PM PDT

WASHINGTON: Joe Biden and Paul Ryan waged the most meaty foreign policy exchanges of the entire White House race in their vice presidential rumble, which exposed national security liabilities on both sides.

The Democratic vice president, a foreign policy player in Washington for decades, and Ryan, a conservative budget hawk with little experience in the wider world, argued sharply on Iran, Afghanistan, Libya and the Arab Spring.

Both men posed unanswered questions and identified political vulnerabilities sure to be exploited by President Barack Obama and Republican ticket headliner Mitt Romney in their two remaining debates in the next 10 days.

Biden was shakiest on the attack on the US consulate in Benghazi, while Ryan struggled to sketch an alternative policy to the White House on Iran, Afghanistan and Syria, despite slamming Obama’s foreign policy as inept.

The Republican used the debate before millions of television viewers Thursday night to sharpen Romney’s offensive on Obama’s shifting account over the death of the US ambassador to Libya on September 11.

Biden, like other senior officials since the deaths of four Americans, failed to get the administration’s story straight and may actually have poured fuel on the row over apparently inadequate security in Benghazi.

“We weren’t told they wanted more security … We did not know they wanted more security,” Biden said, as a row rumbled in Washington on the assault on the compound by militants.

But his statement contradicted testimony from security officials at a congressional hearing this week that a request for extra protection for US posts in Tripoli and Benghazi was turned down by the State Department.

Ryan saw the death of Stevens as a vehicle for a wider attack.

“What we are watching on our TV screens is the unraveling of the Obama foreign policy, which is making the world more chaotic and us less safe.”

While the Republican made Biden uncomfortable on Libya, his handling of other global hotspots was less assured.

Ryan struggled to rebut Biden’s charge that Romney’s rhetoric was bellicose and empty and he failed to distinguish exactly what the Republican ticket would do differently in the world if elected on November 6.

Biden lauded Obama for getting troops home from Iraq, while lashing Romney for saying the complete US withdrawal was “tragic” and skewered Ryan on his critique of the US plan to get out of Afghanistan by 2014.

Ryan tried to spin a hard-to-sell argument that though Romney backed the 2014 timeline, it was wrong to tell US enemies when NATO troops would quit, and that US generals, not politicians, should dictate the pace of withdrawal.

Biden, scenting political gain on an unpopular war, was unequivocal: “We will leave in 2014.”

Ryan also struggled to accompany Romney’s searing criticism of Obama’s policy on Iran and Syria with a clear picture of how the Republicans would change tack.

He portrayed Obama as feckless on preventing the nuclear weapon that western nations believe Iran is trying to build, and said that “the ayatollahs” did not view Obama threats of last resort military action as credible.

But he was undermined by the fact that the White House has imposed the most punishing sanctions yet on Iran.

“They’re working. And the fact is that they are being crippled by them. And we’ve made it clear, big nations can’t bluff. This president doesn’t bluff,” Biden said, warning Romney’s “loose talk” could trigger a new US war abroad.

Ryan also scorned Obama’s failure to halt the vicious civil war in Syria, and mocked the administration’s earlier view of President Bashar al-Assad as a potential negotiating partner.

He complained that Obama had allowed Russia to block tougher sanctions against Assad at the United Nations, and said he had not sufficiently corralled Arab world allies to arm the Syrian opposition.

“What would my friend do differently? If you notice, he never answers the question?” Biden said, narrowing in on the weaknesses of the Romney position.

Thursday’s jabs foreshadowed the foreign policy jousts to come between Romney and Obama but in an election dominated by the economy, it seems unlikely that national security will move significant numbers of votes.

Biden’s struggles on Libya may have the most potential to drive campaign news stories in coming days, though so far no information has come to light to prove that Obama is personally to blame for lax security in Benghazi.

The president, who repeatedly highlights his decision to mount a raid to kill Osama bin Laden and his ruthless campaign against Al-Qaeda, still appears to be on firmer political ground on national security than Romney.

- AFP

Pro- and anti-Morsi protesters clash in Egypt

Posted: 12 Oct 2012 04:21 PM PDT

CAIRO: Clashes erupted in Cairo’s Tahrir Square yesterday as supporters and opponents of Egyptian President Mohamed Morsi tried to wrest control of the iconic square in rival rallies, an AFP journalist reported.

The health ministry said at least 12 people were wounded as protesters showered stones at each other in some of the worst violence over the country’s new Islamist leader.

The clashes started after Brotherhood supporters tore down a podium belonging to a group that was chanting anti-Morsi slogans, witnesses said.

Morsi’s supporters, mainly his powerful Muslim Brotherhood movement, had called their rally to denounce this week’s acquittals of Hosni Mubarak-era officials.

His opponents, a coalition of liberal and secular leaning groups, had previously called their own rally to denounce Islamist control over a body drafting the new constitution, and Morsi’s performance in office.

“Down with the Supreme Guide’s rule,” Morsi’s opponents chanted, referring to Muslim Brotherhood leader Mohammed Badie.

Confusion reigned in the large square, the nerve centre of protests that toppled Mubarak early last year, as fighting broke out in several areas of the central Cairo hub.

Morsi barely scraped through to win an election in June that presented voters with an unpopular choice between an Islamist president or Ahmed Shafiq, Mubarak’s last premier.

Opponents of Morsi include influential judges who were again infuriated by the president when he tried sacking the state prosecutor on Thursday after the acquittals of 24 former regime figures accused of organising attacks on protesters.

The state prosecutor refused to step down and take Morsi’s offer of an ambassadorship in the Vatican, and an influential judges’ club described Morsi’s decree as an attack on judicial independence.

After his election, Morsi had tried to reverse a court order that dissolved the Islamist-dominated parliament, sparking a backlash from the judiciary.

- AFP

Survivor tells of ‘massacre’ in north Syria dungeon

Posted: 12 Oct 2012 04:19 PM PDT

MAARET AL-NUMAN, (Syria): Murad Hakura says he felt the blood from two executed fellow prisoners seep onto him as he cowered behind a pillar during what he described as a “massacre” of detainees by Syrian troops.

In a dungeon in the northern town of Maaret al-Numan on Monday, soldiers from army intelligence opened fire on detainees killing 65 of them before retreating in the face of a rebel advance, according to Hakura.

The Syrian Observatory for Human Rights, however, says that 20 of a total of 65 detainees, comprising deserters, rebels from the Free Syrian Army and ordinary criminals, were executed.

Hakura, a 32-year-old shopkeeper from the capital Damascus whose family live in Maaret al-Numan, says he was stopped on June 21 at a checkpoint on the highway that runs between the two cities.

He was detained in the old cultural centre in the eastern part of the town that was converted into a prison and used for interrogation by army intelligence. On Tuesday, rebels captured Maaret al-Numan.

More than 80 prisoners, presumed sympathisers of the revolution or soldiers suspected by their superiors of wanting to defect, were crammed into two rooms in the basement, Hakura says.

They suffered daily interrogations and torture, being beaten with fists and clubs or electrocuted. One of the officers, whom he named only as Maymun, would “ask the questions while his sidekick Jalal would beat” the victims who were handcuffed or suspended in the boiler room.

As the rebels holed up in the west of the town began to gain ground, the prisoners feared their guards would carry out reprisals.

“But we never imagined what was to happen,” Hakura recollects.

On Monday afternoon, ahead of the army retreat, two soldiers burst into the room where Hakura and his fellow inmates were kept. “Jalal was one of the two,” he says.

The soldiers opened fire immediately with their Kalashnikov assault rifles, “emptying three magazines.”

Hakura ducked behind a pillar. “I curled up on the floor and two bodies fell on top of me. I felt their blood seep onto me, heard their prayers and their final groans.”

The assailants then went to the room next door, which housed the rest of the prisoners, once again opening fire, he says. The army then fled the compound under rebel fire.

Miraculously, Hakura was not wounded. He administered first aid to those who had been shot, applying tourniquets and trying to stop the bleeding using plastic bags.

The rebels assaulted the building room by room, but the regime troops had already disappeared. “We shouted to them not to open fire, calling the commanders by their first names,” Hakura says.

“I saw 28 dead with my own eyes in my cell, and 32 in the room next door. Three of four who had been wounded died shortly afterwards.”

The events that he recalls on site match up with what local activists say, and with the horrific images posted on the Internet by rebels, making this the latest on a long list of massacres the regime is accused of committing.

Three days later the two bullet-ridden and blood-stained basement rooms still bear witness to the killings. The thick stomach-churning stench of rotting corpses fills the nostrils as flies gather on pools of congealed blood that make the soles of one’s shoes stick to the floor.

A rebel’s spray-painted slogan features on one blood-spattered wall: “Another massacre of (President) Bashar al-Assad.”

Hakura shows journalists exactly where he took shelter during the shooting, miming the actions that apparently saved his life.

“I didn’t do anything wrong (before being arrested),” he asserts. “I was just an ordinary protester.”

Kalashnikov in hand, however, he now fights for the armed insurgents on the front line.

- AFP

Iran blames economic woes on tougher sanctions

Posted: 12 Oct 2012 04:16 PM PDT

TEHRAN: Falling oil exports, sliding currency, soaring inflation, slipping industrial output and rising unemployment – just some of the economic woes Tehran blames on ever-tougher international sanctions it is enduring over its nuclear drive.

After long denying that sanctions were having any effect, Iranian leaders are now beginning to acknowledge the extent of the damage, denouncing what they say is an “economic war” against the Islamic republic.

But even as the European Union readies a new set measures, Tehran continues to breathe defiance, vowing not to yield to pressure to abandon its ambitious nuclear programme.

World powers suspect Iran’s nuclear enrichment actuivities mask a drive for atomic weapons, despite repeated denials by Tehran.

“These sanctions are barbaric. This is a war against a nation… But the Iranian nation will defeat them,” Iran’s supreme leader Ayatollah Ali Khamenei said in a speech broadcast on state television on Wednesday.

His comments came after Iran was shaken by the collapse of its currency, with the rial losing nearly 40 percent of its value in a matter of days in the foreign exchange market, triggering angry protests in Tehran.

On Thursday, the rial was trading at 33,000 to the dollar compared to 22,000 at the end of September and 13,000 at the start of the year.

The fall of the rial quickly caused a sharp increase in prices of several consumer products, accelerating inflation which officially was estimated at 27 percent in August but was probably twice as high in reality, according to experts.

The crisis is primarily due to a Western embargo on doing business with Iranian banks which has been in place for the past two years, which has severely hampered the repatriation of Iran’s petrodollars.

An oil embargo slapped on Iran at the start of the year by the United States and the European Union was a final blow: the export of Iranian crude oil halved, falling to about one million barrels per day, in turn leading to a fall in crude production.

Despite denials by Iran, it production fell to around 2.7 million barrels per day in September against 3.5 mbpd at the start of the year, according to estimates from OPEC.

Banking sanctions have also had a major impact on industries importing raw materials or spare parts, such as the automotive sector.

The industry has seen production fall by 42 percent since a decision in March by French major Peugeot, one of the main partners in Iran’s automobile industry, to cut output.

The entire automobile industry, employing some 500,000 workers has been affected, causing layoffs and plant closures among subcontractors, say industry experts.

It is difficult to accurately assess the impact of industrial and social sanctions as the Iranian media, under orders from the government, does not publish information deemed contrary to the national interest.

The International Monetary Fund, which tracks official indicators, expects a 0.9 percent fall in Iran’s gross domestic product in 2012 because of international sanctions, and a 25 percent jump in unemployment between 2011 and 2013.

This fast deterioration of the situation has revived tensions between the conservative groups who are in power in Iran, with opponents of President Mahmoud Ahmadinejad criticising his government for being unable to stem the crisis.

The all-powerful Khamenei said the sanctions had created “problems” for the country, and that “some mismanagement” of the draconian measures was adding to those problems, such as collapsing of the rial.

US and British leaders have welcomed the crisis, hoping it would make Iran more flexible in nuclear talks with world powers — stalled for three years.

Analysts, however, say the survival of the regime is not yet threatened, stressing that the Islamic republic remains a wealthy country.

“People are unhappy with the economic situation,” but even with oil revenues halved, “the regime has enough to survive,” says Thierry Coville, of the French Institute of International and Strategic Relations.

- AFP

KTMB workers: Hands off the rails, MMC!

Posted: 12 Oct 2012 06:16 AM PDT

KUALA LUMPUR: More than 300 workers braved rainy weather to protest against the possible privatisation of Keretapi Tanah Melayu Bhd (KTMB), Malaysia’s largest train company.

Gathering in front of KTMB headquarters at 5.30pm, and led by the Railwaymen’s Union of Malaya (RUM), they criticised MMC Corp’s intention to privatise KTMB.

“Why do they (MMC) want to take over KTMB? To trample (menganiaya) on us! We say no!” RUM president Abdul Razak Md Hassan told the crowd.

He was accompanied by several workers’ rights groups including the Malaysian Trade Union Congress (MTUC) and PKR-Kuala Langat MP Abdullah Sani.

The workers later dispersed peacefully at around 6.30pm.

Abdul Razak said that previous attempts to privatise the wholly-owned Finance Ministry company resulted in disaster, citing a lack of confidence in MMC.

KTMB, according to him, was a social service, and MMC’s takeover would not only bring down the company, but also put its 5,500 workers at risk. (More than 3,500 KTMB workers are RUM members.)

He is concerned that if MMC were to take over KTMB, it would not only lead to an eventual restructuring, but also the layoff of thousands of workers.

Abdul Razak (photo right) also asked why MMC wanted to take over the company, when it was losing RM150 million to RM200 million every year, largely due to its low, government-fixed service fares.

The upcoming 50% KTM Komuter discounts to low-income earners, announced in the recent Budget 2013, Abdul added, would mean that KTMB would lose a further RM50 million every year.

Going by this, he said it made no sense for MMC to push its privatisation agenda.

In August, MMC Corp proposed taking over KTMB from the federal government, after a due diligence exercise by the company to see if such a move was feasible.

Ulterior motives

MMC also intends to inject RM1 billion into the company, after the takeover.

Later, Abdul Razak said that although Proton – Malaysia’s national car company – was privatised, the salaries of the general workers there did not increase.

Promising to take this issue to Parliament, Abdullah (photo below) claimed that MMC had ulterior motives.

“We will take [up] this issue… we believe we will win,” he told the cheering crowd.

MTUC president Mohd Khalid Atan warned MMC to stay away from KTMB.

He said: “We will support you [RUM] at any time. If RUM says, don’t take KTMB, don’t take it. KTMB, with the help of its workers, can rise on its own!”

According to RUM, only workers who were not on shift were allowed to take part in today’s protest. Abdul Razak said that this was because the union did not want to disrupt KTMB services.

He added that he would also bring the matter to Prime Minister Najib Tun Razak, promising a second picket if RUM’s concerns were not heard.

In 1997, the Merak Unggul Konsortium took over KTMB. It was a move that lasted six years, which the union claimed led to a mistreatment of staff.

KL shares end mixed, CI down 2.11 pts

Posted: 12 Oct 2012 05:45 AM PDT

KUALA LUMPUR: Share prices on Bursa Malaysia ended mixed today, on mild profit taking activities, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 2.11 points to 1,653.36, after moving between 1,650.77 and 1,657.72 throughout the day.

On the broader market, gainers beat losers by 359 to 334, while 363 counters were unchanged, 583 untraded and 19 others suspended.

Trading was choppy as the stock market initially started lower, turned higher at mid-day and then lower towards the closing session.

“Investors were seen to be reluctant to be on the buying side in the absence of stronger supportive buying interest,” a dealer said.

Interest was seen in plantation stock pick-up after the government announced changes to the palm oil policy to better reflect movements in international prices.

Malaysia will cut crude palm oil export taxes and discontinue a tax-free shipment quota for the grade from Jan 1 next year.

“But the positive effects are limited as many expected a more immediate policy,” the dealer said.

The Plantation Index rose 18.12 points to 8,175.8 and the FBM Mid 70 Index increased 34.67 points to 12,178.45.

The Finance Index fell 30.739 points to 14,705.57 and the Industrial Index lost 6.77 points to 2,846.5, while the FBM Ace declined 1.18 points to 4,200.95.

The FBM Emas Index fell 2.67 points to 11,242.46.

Turnover decreased to 780.94 million shares valued at RM1.21 billion from 800.27 million shares worth RM1.11 billion yesterday.

Among actives, Asia Media fell three sen to 3.5 sen, Scomi was flat at 43.5 sen and Metronic gained half sen to 10 sen.

Of the heavyweights, Maybank shed two sen to RM8.94, Sime Darby lost five sen to RM9.72 and CIMB fell two sen to RM7.70.

Top gainers were Dutch Lady which rose RM1.00 to RM49.50, Nestle added 58 sen to RM64.88 and Scientex gained 25 sen to RM2.95.

Volume on the Main Market rose to 589.65 million valued at RM1.17 billion from the 569.26 million units worth RM1.06 billion yesterday.

Turnover on the ACE Market declined to 158.57 million shares valued at RM36.224 million from the 160.01 million shares worth RM39.32 million yesterday.

Warrants fell to 29.433 million units worth RM1.977 million from 64.99 million units valued at RM4.52 million previously.

Consumer products accounted for 51.55 million shares traded on the Main Market, industrial products 105.47 million, construction 29.23 million, trade and services 273.19 million, technology 27.55 million, infrastructure 9.43 million, finance 33.04 million, hotels 224,900, properties 37.6 million, plantations 16.56 million, mining 309,900, REITs 5.48 million and closed/fund 6,000.

- Bernama

Conned by a black magic woman

Posted: 12 Oct 2012 03:09 AM PDT

SUBANG: A woman of 54 claimed today that she was robbed of more than half a million ringgit over a three-year period while under the spell of black magic.

Speaking at a press conference organised by the Consumer Association of Subang and Shah Alam (Cassa), she said the black magic worker, a 41-year-old woman from Tanjung Malim, had confessed her crime in a statutory declaration that had been submitted to police.

Cassa president Jacob George said the culprit belonged to a money laundering syndicate working in collusion with bank employees and lawyers. He accused Bank Negara of neglecting its duty of protecting bank clients.

This was Mrs G's story:

“I was introduced to the lady in February 2009 by her brother. She told me her family wanted to harm her. I took pity on her and allowed her to live with me at my place in Damansara.

"I counselled her and prayed for her.

"Mysterious things began to happen a month later. I found that hair had been snipped off the top of my head while I was asleep. My undergarments went missing. The gates to my house fell off three times.

“She gave me sweets such as laddu (an Indian delicacy), saying that they had been blessed by priests.

"After that, I lost control of my life. I found myself believing everything she said and was totally under her control."

Mrs G alleged that the woman somehow managed to create a kind of paranoia in her so that she feared even leaving her house. She quit her job and lost contact with her family, she said.

“A group of people came to buy my home because of her. She forged my signature on the sale and purchase agreement. However, the signature was different from my signature and I was called to the bank.”

Police reports

According to Mrs G, she went to a bank last June and by that time the woman had left her home and she had come out of the spell. While she was at the bank, the woman telephoned to ask what she was doing there.

Mrs G said she threatened the woman into meeting her at the bank. Subsequently, she added, she made police reports at several police stations and finally managed to persuade the magic worker to sign a confessional statutory declaration.

With the help of Cassa, she said, she submitted all relevant documents to Petaling Jaya police last Tuesday.
George said Mrs G's case was one of 19 that Cassa had uncovered that involved a syndicate of money launderers.

“Why is Bank Negara so impotent?" he asked. "Some bank staff are leaking out confidential information and there are lawyers also working in cahoots."

He lamented that the sale of Mrs G’s house was complete despite the fraudulent nature of the transaction, but added that Cassa had advised the buyer against using it.

Oldtown White Coffee assures food and drinks ‘halal’

Posted: 12 Oct 2012 02:54 AM PDT

KUALA LUMPUR: Oldtown White Coffee has given an assurance that the food and drinks served at all its outlets are halal.

Oldtown White Coffee has of late been faced with allegations from certain quarters that its food and drinks are not halal with even Muslim staff being instigated to resign.

“Oldtown White Coffee does not serve any non-halal products or alcohol.

“All our supplies are provided by suppliers with Jakim recognised certification, who are required to produce valid halal certificates for every item supplied,” said Ahmed Tasir Lope Pihie, the chairman of Oldtown Bhd, in a statement today.

He also said that to date, of a total of 179 franchise outlets in Peninsular Malaysia, 60% have already received Jakim-recognised halal certification.

“Halal certification for the remaining outlets is already well in progress and pending confirmation. We expect halal certification for all the outlets to be completed by year-end,” he added.

Oldtown Bhd is a publicly listed company on the Main Board of Bursa Malaysia Securities Bhd and the information is readily available online.

“We also like to clarify that Oldtown White Coffee is not affiliated to any political party, nor does the company have any political interest.

“We are working closely with Cyber Security Malaysia and the MCMC Complaints Bureau to clarify the online allegations and will not hesitate to prosecute any party who continues to defame Oldtown White Coffee,” Ahmed Tasir added.

Established in 1999, Oldtown manufactures instant beverage mixes and products in addition to operating over 200 cafe outlets throughout Malaysia and the region.

In 2005, the business expanded into the food service sector with the opening of a chain of cafe outlets based on the traditional Ipoh coffeeshop setting and ambience under the brand name, “Oldtown White Coffee”.

- Bernama

Suaram decries ‘police extortionists’

Posted: 12 Oct 2012 02:39 AM PDT

PETALING JAYA: Suaram lambasted the police over what appears to be a prevailing culture of their officers requesting bribes from family members in exchange for information on the whereabouts of their detained loved ones.

The latest allegation involves the wife of death in custody victim, P Chandran, who said she was asked to pay RM300 for information on her husband just before he died in detention.

N Selvi said she attempted to check with the police on the whereabouts of her husband so that she could pass him medication for hypertension problem.

“Suaram is gravely concerned at the steady repetition of corrupt practices by the police,” said Suaram coordinator R Thevarajan.

He said that this was not the first time such allegations have been brought to Suaram’s attention.

In one instance, said Thevarajan, police had requested RM13,000 as "release fee" from parents of teenagers detained under the Emergency Ordinance in 2011.

He also said that according to Suaram’s records, police have, throughout the years, never claimed any responsibility for the death of detainees.

“Suaram is perturbed at the cause of death and recounts that every death-in-custody was either attributed to the victim’s health or passed off as a case of accident,” he said.

Thuggish attitude

Suaram wants the officer-in-charge of the Dang Wangi lock-up, where Chandran was detained, to produce his daily journal for “scrutiny and an independent inquest".

Thevarajan said that an inquest should be held within a month.

“Suaram repeats the call for the setting up of an Independent Police Complaints and Misconduct Commission [IPCMC].

“The police institution needs an independent disciplinary mechanism before such thuggish attitude becomes the official code of conduct of the institution,” he said.

Dang Wangi police chief ACP Zainuddin Ahmad told Bernama that Chandran died from heart disease in the Dang Wangi police station lock-up on Sept 10.

An attempt by FMT to get further response from Zainuddin was unsuccessful.

PKR's Kapar MP S Manickavasagam announced that he is helping the family to bring a suit against the government and police for neglect.

Chandran was apparently arrested for suspected kidnapping of a baby in Cheras.

China Nobel winner defends prize

Posted: 12 Oct 2012 02:35 AM PDT

GAOMI, (China): Chinese author Mo Yan today defended his Nobel prize from dissidents who accused him of being a communist stooge, and expressed hope for the early release of jailed fellow laureate Liu Xiaobo.

Speaking a day after his Nobel literature prize sparked an outpouring of praise from the government, and sharp condemnation from critics, Mo Yan stood his ground in a press briefing likely to anger both sides.

He dismissed his detractors, saying they probably had not read his books.

“Some say that because I have a close relationship with the Communist Party, I shouldn’t have won the prize. I think this is unconvincing,” said Mo Yan, 57.

He called his award “a literature victory, not a political victory”.

But Mo Yan also defended Communist Party founder Mao Zedong, who wrote that Chinese art must serve the party.

“I think some of Mao’s remarks on art were reasonable,” the author said.

Looking relaxed and confident, he also courted official anger by saying he hoped that jailed dissident writer Liu Xiaobo could be freed soon.

Liu was jailed in 2009 for calling for democratic change, and his Nobel Peace Prize the following year enraged Beijing, which brands Liu a criminal.

“I hope he can gain freedom as early as possible,” Mo Yan said in response to a question from one of about 30 journalists at the briefing in his hometown of Gaomi, where many of his dozens of works have been set.

Chinese dissidents have assailed the prize as a disgrace due to the Communist Party’s control of creative expression.

Artist Ai Weiwei savaged Mo Yan as a government patsy and ridiculed the official jubilation from Beijing, which had lashed out at the Nobel committee in the past over peace prizes for Liu and Tibet’s spiritual leader the Dalai Lama.

“(Mo Yan) will always stand on the side of power and he will not have one bit of individualism,” Ai told AFP, adding that “people don’t know if they should laugh or cry over this Nobel prize”.

Prominent exiled dissident Wei Jingsheng criticised the prize as an effort to appease Beijing after the angry reaction to Liu’s 2010 peace award.

He questioned Mo Yan’s independence, noting that he had copied by hand a speech by Mao – which contained the late leader’s views on controlling art – for a commemorative book this year.

“We can tell that this prize was awarded for the purpose of pleasing the communist regime and is thus not noteworthy,” Wei said.

In sharp contrast to its past Nobel vitriol, China boasted about Mo Yan, the first Chinese national to win the literature prize.

“Mo Yan’s winning of the Nobel prize for literature reflects the flourishing improvements of Chinese literature and China’s comprehensive national strength and international influence,” said Li Changchun, the country’s top propaganda official, according to Xinhua news agency.

“Chinese authors have waited too long for this day, the Chinese people have waited too long. We congratulate Mo Yan!” said the People’s Daily, the official outlet for the Communist Party.

But Yu Jie, an exiled dissident writer, was quoted by German broadcaster Deutsche Welle as calling it “the biggest scandal in the history of the Nobel prize for literature”, saying Mao had “slaughtered” more people than Stalin or Hitler.

The prolific Mo Yan is known for exploring the brutality of China’s tumultuous 20th century with a cynical wit in dozens of works.

Some of Mo Yan’s work has cast an unflattering eye on official policy, such as his 2009 novel “Frog”, which looks at China’s “one child” limit and the local officials who implement it with forced abortions and sterilisations.

Literary critics have said Mo Yan has dodged censure by deftly avoiding overt criticism of authorities. He is also vice-chairman of the officially endorsed China Writers’ Association.

Mo Yan is a pen name for the author, who was born Guan Moye. He is best known abroad for his 1987 novella “Red Sorghum”, set amid the brutal violence that plagued the eastern Chinese countryside, where he grew up, during the 1920s and 30s.

- AFP

Crisis-torn EU wins 2012 Nobel Peace Prize

Posted: 12 Oct 2012 02:34 AM PDT

OSLO:  The Nobel Peace Prize was on Friday awarded to the European Union, an institution currently wracked by crisis but is credited with bringing more than a half century of peace to a continent ripped apart by World War II.

“The union and its forerunners have for over six decades contributed to the advancement of peace and reconciliation, democracy and human rights in Europe,” Nobel Committee president Thorbjoern Jagland said in Oslo.

“Over a seventy-year period, Germany and France had fought three wars. Today war between Germany and France is unthinkable. This shows how, through well-aimed efforts and by building up mutual confidence, historical enemies can become close partners,” he said, explaining this year’s prize decision.

The award is however a surprise at a time when European solidarity is facing its most daunting challenge in decades amid deep rifts between a south drowning in debt and a wealthier north, led by Germany, only reluctantly coming to the rescue.

Whether or not that begrudging assistance will keep the European project afloat remains to be seen, but the deep crisis has broadened the gulf already felt between citizens in the different member states and a Brussels long seen as too distant and bureaucratic.

But the creation of the organisation is credited with helping to bring peace and stability to the war-torn continent by bringing together arch-enemies France and Germany and herding them down the same path.

Despite recurring difficulties, the EU has become the biggest common market in the world, allowing free circulation of goods, people, services and capital.

Over the years, the pioneering project has swelled to encompass 27 countries which not long ago sat on either side of the “Iron Curtain”.

They came to the table with vastly different economic, social and cultural situations, but following intense integration efforts, a full 17 of them now share a common currency.

This year’s prize will also cause shockwaves in host country Norway, which itself has rejected joining the union twice, in 1972 and 1994, and where three quarters of the inhabitants today say they are opposed to membership, according to recent polls.

-AFP

Another high-rise project near Highland Towers?

Posted: 12 Oct 2012 02:29 AM PDT

PETALING JAYA: There are plans by a private developer to build five condominium towers at Taman Hillview, near the site of the ruins of the Highland Towers apartments.

The Sri Ukay/Hillview Residents Association chairperson Siti Hendon Chik said the distance between the proposed project and the Highland tower ruins was about "walking distance."

"Our residents' committee attended a meeting on Oct 3 with the developer, mediated by the Ampang Jaya Town Council at Menara MPAJ," she said.

The proposed project, Siti Hendon said, would sit on an eight-acre land, housing five towers of 17-storey condominiums.

It would also be a gated community project.

She said that during the meeting, some of the residents were opposed to the project but the developer said that the development was needed to "rectify" some hillslopes nearby that could endanger the residents.

"I asked MPAJ why it was not rectifying the slopes if it was dangerous; the officer told us that it would cost too much money and time, even up to four years," said Siti Hendon.

She also told them that the area was already facing heavy traffic congestion and further development at the area would make matters worse.

"But MPAJ assured us that nothing is finalised and it is still in the midst of getting public feedback on the condominium project," said Siti Hendon.

She later said that it was important for the local authorities to rectify the hillslopes first if they posed an immediate danger to the residents living at the area.

"The local authorities must solve the slope problem, not handing it over to a third party," said Siti Hendon.

Unsafe hillslopes

Echoing Siti Hendon’s sentiments, another resident from Sri Ukay, Lee Joo Khim, said the developer had pitched its idea that the development is needed due to the unsafe hillslopes nearby.

Therefore, Lee added, the association had asked for several reports from the developer and the MPAJ for further assessment.

"We asked them to provide land titles, geo-technical reports and others. MPAJ promised to hand them over to us soon and gave us one month to study them upon the date of receipt," said Lee.

The residents are planning to visit the developer's office next week to study the geographical report of the area, which is said to have been completed recently.

FMT failed to reach Selangor executive councillor for housing Iskandar Abdul Samad and MPAJ director of town planning Nizam Shaari for comments.

Block A of the Highland Towers apartments collapsed in December 1993 causing 48 people to lose their lives.

Occupants from the rest of the blocks were subsequently evacuated due to safety concerns.

Meanwhile, an official from MPAJ confirmed that it has received an application from a developer for the project at Taman Hillview.

“The site is about 100 metres away from Highland Towers,” said the official.

‘Ask the state government’

However, he said that the local council has yet to give its approval as it was still getting public feedback on the matter.

The official said that the eight-acre land belongs to the developer and it was designated for housing purposes.

However, only one-third of the land would be used for the condominium project as the rest of the land was unfit.

“The developer had promised to rectify the slopes on the rest of the private land. On top of that, it has also promised to rectify slopes at a nearby 18-acres land which belongs to the state government. The entire process to rectify the slopes will cost RM12 million,” said the official.

He said the slopes that were needed to be rectified were currently unsafe.

On why MPAJ did not rectify the slopes in the past 20 years, the official said that it was due to budget constraints.

“You have to ask the state government. In areas managed by MPAJ alone, we have about 600 slopes to maintain. We only have funds to manage the slopes,” said official.

(Main photo shows the collapsed Highland Towers. The second photo shows the road leading to the proposed condominium project.)

PAS to show proof of SB’s racial campaign

Posted: 12 Oct 2012 02:20 AM PDT

SEREMBAN: PAS is compiling evidence to prove that the police Special Branch has been campaigning for Barisan Nasional and using racial and religious issues to instil fear of Pakatan Rakyat's victory in the coming election.

The party's Negeri Sembilan chief, Mohd Taufek Abdul Ghani, disclosed this at the state assembly session earlier this week.

Taufek, who is the state assemblyman for Paroi, alleged that Special Branch officers would raise the spectre of hudud when addressing non-Muslim audiences at so-called security briefings, saying Pakatan would implement it if it were to come to power.

When addressing Malay audiences, they would say Pakatan was determined to rob the Malays of their special privileges, he added.

He told the assembly that he would lodge a police report after enough evidence had been compiled "because playing with racial and religious sentiments is very dangerous."

The state assembly sitting lasted only a day although it was scheduled for two.

Motions rejected

Pakatan assemblymen were outvoted when they tried to table two emergency motions for debate.

In the first motion, Loke Siew Fook (DAP-Lobak) sought to refer Sri Menanti state assemblymen Abdul Samad Ibrahim (BN) to the Special Privileges Committee for alleged misuse of a shotgun.

The second emergency motion, tabled by Chai Tong Chai (PKR-Chuah), sought to debate complaints by residents of Chuah, Lukut and Bukit Pelandok that they had, for the past two months, been getting dirty and foul-smelling water from their pipes.

The assembly's standing orders stipulate that half of the assemblymen present must vote for an emergency motion before it can be put to debate. In both cases, 15 assemblymen voted aye and 19 voted nay.

At a press conference after the assembly session, Loke said the defeat of the motions showed that BN representatives did not care about issues of public concern.

"The BN state assemblymen are using the standing orders to protect their leaders," he said.

During the session, Zainal Abidin Ahmad (BN-Sungai Lui) alleged that a Pahang-based NGO was misleading his Orang Asli constituents by alleging that the state had licensed a company to mine gold in Serting.

"There is no truth in the claim and I regret that a local opposition leader was present at a protest gathering with Orang Asli and members of the NGO," he said.

"I want to clarify here there is no gold in Sungai Lui and I urge the NGO not to mislead the Orang Asli."

Observers noted that Zainal Abidin kept his cool during his speech, showing a contrast to his normal aggressive self.

Ngeh's gaffe

Indeed the only time the assembly became noisy yesterday was during a debate regarding Perak DAP chairman Ngeh Koo Ham's remark about Muslims wasting time protesting against an American made anti-Islam movie.

Mohd Kamil Abdul Aziz (BN-Gemencheh) questioned why PAS did not lodge a police report against Ngeh, and Loke shot up from his seat to say that the Perak DAP chief had already retracted his statement and apologised.

Following that, Cha Kee Chin (DAP-Bukit Kepayang) asked why Umno was not taking action against MCA president Dr Chua Soi Lek for ridiculing hudud and Islam. He added that Negeri Sembilan MCA chief Yeow Chai Thiam had also often questioned Islamic laws without exciting Umno's anger.

Mohd Taufek told Mohd Kamil to retract his mention of Ngeh's name, pointing out that there was a standing order against commenting on any person not present in the assembly.

"I retract the name of Ngeh Koo Ham but maintain the words Perak DAP chairman," Mohd Kamil said and continued with his speech.

The next state assembly sitting is scheduled for three days from Dec 14.

No fears over possible BN-friendly PJ mayor

Posted: 12 Oct 2012 02:13 AM PDT

PETALING JAYA: The Selangor state executive council has allayed fears that the transfer of PJ mayor Mohamad Roslan Sakiman could result in a more "Barisan Nasional-friendly" person taking his place.

"No, a BN-friendly mayor will not happen. I will see to it that it won't happen," state executive councillor Ronnie Liu told FMT in a curt reply.

"The appointment of the mayor is within the Selangor Menteri Besar's jurisdiction, so the state executive council will see to who will become the mayor."

Mohamad Roslan had been informed by the Public Services Department (PSD) in a letter dated Sept 27 that he had been transferred to the state secretariat.

He was to assume his new post as deputy state secretary on Oct 1 – meaning he had been given only four days notice over the transfer.

Members of the state executive council have cried foul over the sudden transfer as none had given their consent or were consulted over the matter.

"The sudden transfer of a government official without consultation has brought on shock and dissatisfaction among members of the Petaling Jaya City Council as well as the Selangor state government," state executive councillor Teresa Kok had said in Parliament yesterday.

"Legally, the Petaling Jaya mayor's transfer violates Section 10 of the Local Government Act.

"The mayor's appointment… is under the jurisdiction of the state government, and the transfer of a local government official by the PSD also violates the state government's jurisdiction," Kok had said.

The PSD reportedly agreed to delay Mohamad Roslan's transfer until he had completed his duties, but speculation is rife that the BN government would attempt to replace him with someone more sympathetic to the former's cause.

Should that happen, Pakatan Rakyat's fight to retain Selangor would certainly be an uphill battle as the PJ mayor oversees town planning, social and economic development and the general development of the city.

But like Liu, Kok quashed such fears as being "incorrect presumptions".

"There is no fear that Mohamad Roslan will be replaced with a BN-friendly official. That presumption is incorrect," she told FMT.

Kok, who is also Seputeh MP, said it was normal for a mayor to be transferred or promoted every year, and that the problem lay only with this particular transfer's procedure.

"Our issue is merely that there was a lack of consultation when Roslan was transferred. It was not right for PSD to do that because it touched the jurisdiction of the state."

But she refused to comment further, saying that she wished to wait for the minister's reply in Parliament on Monday.

The health benefits of friends

Posted: 12 Oct 2012 02:08 AM PDT

We may get jealous of their new car or their fabulous designer boots, but jealousy aside we all love hanging out with our friends; whether we're watching the game or having a gossip over a glass of vino.

Yet it turns out that our friends aren't just fun, they also give us a much-needed boost to our health.

Find out why your friends are good for your health:

Gossip

Who doesn't love whispering about that girl who slept with your colleague despite being engaged? Everyone loves the cheap thrill that gossip gives us and now we know that gossiping with our friends actually has health benefits.  Researchers found that people feel better when they are able to gossip about someone who is behaving badly and when they get to warn others about deceit. This kind of gossip is called 'pro-social' gossip and gossip it is thought to lower our stress levels.

Weight

Although seeing our friends often involves coffees, beers and indulgent meals, research has found that our friends can help us stay slim and healthy. A study published in PLOS ONE found that people who hung around with slim friends tended to be healthy and slim too, whilst those people who had overweight friends would typically gain weight. The stronger your relationship is with your friends, the more likely you are to be similar in size and weight. One of the researchers, Alexandra Brewis Slade, PhD, believes there is a correlation between friends' weights and our own because we mirror the behaviour of our social circles.

Survival

Ditching your buddies for cheeky nights in and romantic dates out is going to do nothing for you if you want to live to an old age. A 10 year Australian study found that older people with a large amount of friends were 22 per cent less likely to die during the study than those older people with fewer friends. Also Harvard researchers suggested that strong social ties may promote brain health as we age and another study found that those with high social relationships were 50 per cent more likely to survive during the period of study. So it turns out friends are not just there for secret sharing and karaoke fun.

Sports

If you're fed up of being accused of playing too much football, we've got a fail-proof argument that will stop you from getting hassled about you passion: playing football increases your libido. The beautiful game is said to boost testosterone and levels of this hormone is found to be highest if you are playing at home. So, the next time you consider ditching your team for a date with your girlfriend, remind yourself that playing will do you and your libido a favour.

Heart

We all know that bad men and women can break our hearts, but who knew good friends could mend them? Researchers have found that people who have strong social ties have better heart health than those who have poor social ties. This heart health is thought to come from lower blood pressure, which is a result of good friendships. Shockingly, the findings suggest that these weak social ties could in fact double your risk of heart disease.

Laughter

Remember that time when you and your friends laughed so hard that you thought you might have to go home to change your underwear? Moments like these are hard to beat, yet catching a fit of giggles is in fact great for our health. Researchers have compared the act of laughing to having a mild workout because when we laugh we engage our muscles, raise our pulse and we breathe faster, meaning that more oxygen is pumped through to our tissues.

Stress

There is evidence that having a shoulder to cry on is great for your health and your stress levels; especially if you are a woman.  When women get stressed they release the hormone oxytocin. This hormone makes women want to chat with their friends and open up about why they are feeling the strain. Interestingly, by opening up and sharing women release more oxytocin, which is thought to calm us and would therefore help to relive some of the original stress we felt.

LINKS

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[This content is provided by FMT content partner realbuzz.com]

IMF: China economy to dodge hard landing

Posted: 12 Oct 2012 01:41 AM PDT

TOKYO:  The International Monetary Fund today all but ruled out a hard landing for China’s slowing economy, saying it would expand despite increasing headwinds from battered markets in Europe and the United States.

The Fund has cut its estimate for growth in the world’s second-largest economy this year, raising fears that China is running out of steam, with expansion pegged at 7.8 percent this year and 8.2 percent in 2013.

That is down from a July estimate of 8.0 percent and 8.5 percent growth respectively.

However, Anoop Singh, director of the IMF’s Asia and Pacific department, told a Tokyo press briefing that China was not on the road to economic ruin, describing the possibility of a hard landing as “remote”.

“China is not having a hard landing. The numbers are clearly recognising that China will grow this year,” he said at the IMF and World Bank’s annual meetings in the Japanese capital.

China has suffered the knock-on effect of a severe debt crisis in Europe and a hobbled recovery in the United States, its two key export markets, which have led to a slump in trade and contraction in manufacturing activity.

Authorities have moved to spur the economy by slashing interest rates twice in quick succession this year and cutting the amount of funds that banks must keep in reserve three times since December in a bid to encourage lending.

Yesterday, the World Bank’s newly-installed chief said he expected Beijing to take “very aggressive” steps to kickstart its slowing economy after a once-in-a-decade leadership shuffle next month.

“They are going through a political change right now, and once the political change is complete, my sense is that they’ll be very aggressive in trying to restore growth,” said Jim Yong Kim.

The country’s political scene is gearing up for a major leadership change at the helm of the ruling Communist Party, with Vice President Xi Jinping widely tipped to succeed President Hu Jintao as China’s next leader.

According to an IMF report released on Friday, Asian growth averaged at about 5.5 percent during the first half of 2012, the lowest rate since the 2008 global financial crisis, although the continent remained a key driver of world economic growth.

- AFP

‘No alternative’ to slashing debt: Schauble

Posted: 12 Oct 2012 01:38 AM PDT

TOKYO: Germany’s finance minister said today there is “no alternative” to cutting debt in European countries, the day after the IMF chief called for Greece to be given more time to pare its deficit.

“There’s no alternative to reduce in the medium term too high sovereign debts, especially, and of course for… the eurozone as a whole,” Wolfgang Schauble said in a debate with IMF Managing Director Christine Lagarde in Tokyo.

Lagarde yesterday appeared to soften on the need for heavily-indebted countries to trim their fiscal cloth, when she said: “Instead of frontloading heavily it is sometimes better… to have a bit more time.”

She said the IMF was happy for debt-addled Greece to have another two years to get its fiscal house in order and bring budget deficits down to levels agreed with international creditors.

But in a debate on the sidelines of the International Monetary Fund’s annual meeting in Tokyo, which was briefly interrupted by an earthquake, Schauble cautioned against any slippage.

“I think it’s even more important for sustainable growth that investors and consumers have some confidence,” he said.

“We have to stick to what we announced and we have to implement it step by step.”

Lagarde, who earlier in the day said “wartime levels” of debt were the “greatest roadblock” to future growth, said her position had not changed, insisting debt-reduction was vital, but that it was a matter of timing.

“Consistently we’ve said the same thing: that adjustment… or fiscal consolidation… is necessary.

“But it’s a factor of pace. You know, at which pace does it happen?”

Lagarde said austerity could not be the only medicine for troubled economies, pointing to the human cost of cuts.

“If people stay away from the job market, they lose hope… which is why it’s critical that while maintaining those policies of fiscal consolidation where these are needed, there is also concern for growth, so that jobs can be created.”

Commentators have suggested that Lagarde is shifting the IMF’s stance on the need for austerity, at least partially, in response to the stumbling world economy.

The Fund’s latest forecast, released this week, said the global economy was on track to grow 3.3 percent in 2012, down from its July estimate of 3.5 percent.

The pace of growth next year would also be moderated, forecasters said, suggesting an expansion of 3.6 percent next year, also lower than a July estimate of 3.9 percent.

Jacob Kirkegaard, an economist at the Pesterson Institute in Washington said Lagarde’s emphasis on the need for a more nuanced approach to debt was not a sudden policy adjustment.

“I think it is part of the longer-term shift in the IMF’s position that has been under way for some time, which has seen the IMF move to a gradually more flexible stance on the need for austerity,” he said.

Jaco said the situation in Europe, where a number of large economies were engaging in belt-tightening, supported Lagarde’s emphasis on tailor-made policies.

“In Europe there is obviously the spillover effects, from when all your neighbours are doing austerity… it will affect you as well.

“As such, her remarks are part of a well-founded, empirically-based shift of the IMF views on the scale of austerity required in the current economic climate in the euro area.

- AFP

Hudud a mathematical impossibility

Posted: 12 Oct 2012 01:35 AM PDT

KLANG: It will be impossible to introduce Islamic criminal law in Malaysia even if Umno and PAS are to join forces.

In a debate with MCA last night, DAP's Hew Kuan Yew pointed out that there were less than two third Muslim MPs in Parliament.

The popular speaker said it takes the consent of at least 148 MPs to push for an amendment to the Federal Constitution to introduce the Islamic law.

"Out of the 222 MPs in Parliament, only 107 MPs from the Peninsular are Muslims. If we add the East Malaysian Muslim MPs, there will only be 130.

"Besides, our constituency delineation is such that there are only 136 Muslim-majority seats, with more than 61% of the voters being Muslims," he added.

He said that Sabah and Sarawak Muslim MPs, on the other hand, would not necessarily agree with the Islamic state agenda as it contravened the agreements with regard to the formation of Malaysia in 1963, which stipulates that the country is a secular state.

Some 500 people attended the Mandarin debate titled "Hudud law: Diverting attention or potential threat" at Wisma Cheng Chin here.

Hew also said that PAS would have no choice but to be more moderate now if it wanted to win the general election.

He described the “welfare state” concept raised by PAS now as matching DAP’s socialist idea, which was similar to the Swedish model of distributing the country’s assets fair and equally.

Apart from MCA Youth publicity chief Kow Cheong Wei and Hew, the three-hour session also featured speakers such as Universiti Tunku Abdul Rahman (Utar) professor Chin Chong Foh and PAS-linked scholar Kamal Koh.

Hew centered his argument on how the Islamic criminal law should not be a matter of concern when voters go to the next polls; while Kow argued that a politically stronger PAS would prompt Umno to follow suit to be more Islamic.

Hudud is not applicable

Kow, in his speech, said that it was wrong for Muslims to ride on their majority to push forward hudud law because the country was founded upon the consensus of three races following independence.

"If they want to change anything, it must also be with the consent of all races," he said.

The MCA Youth leader also criticised the hudud punishments as being too harsh and not applicable in society now.

"Next time if you have an accident and lose your hand, you better don't come out. People might think you have stolen stuff," he quipped.

The former Kinrara state assemblyman also said that the current system best suited the country, and there was no need for an alternative law.
"We don’t need religious interference in our politics," he said.

After the four speakers presented their views, it was followed by questions from the moderator and the floor.

DAP supporters seemed to be dominant in the hall, applauding Hew and booing Kow on various ocassions.

During the question and answer session, Hew accused MCA of being subservient to Umno as the party only opposes the Islamic law with Umno's consent.

"But when [former premier Dr] Mahathir [Mohamad] declared Malaysia as an Islamic state in 2002, [MCA] never made any objection," he said.

Kow, however, responded that it was DAP who dodged the question of hudud.

He claimed that DAP supremo Lim Kit Siang, when forming a loose coalition with PAS and the now-defunct Semangat 46 in 1990, had said that DAP would not get involved in Islamic affairs.

"This caused PAS to grow strong and wrested Kelantan for the first time in the 1990 general election," he said.

"Now (DAP secretary-general) Lim Guan Eng had said that DAP would pull out from Pakatan Rakyat if PAS forms an Islamic state, but would they do so?" he said.

Also read:

Official status of Islam 'a political move'

Sedition charge dropped against Indian cartoonist

Posted: 12 Oct 2012 01:34 AM PDT

MUMBAI: An Indian state has dropped charges of sedition against a cartoonist who was arrested over his anti-corruption drawings last month in a case that outraged free-speech activists, his lawyer said today.

Aseem Trivedi, 25, was detained and bailed four days later under laws governing sedition, information technology and protecting India’s national flag and constitution.

“The sedition charges have been dropped but the other charges continue,” his lawyer Vijay Hiremath told AFP, explaining that western Maharashtra state’s advocate general had filed an affidavit to the Bombay High Court.

Trivedi’s arrest had sparked a backlash against Indian authorities, accused by campaigners and rights groups of using British colonial-era sedition laws to silence dissent in the country.

The maximum penalty for sedition in India is life imprisonment.

Trivedi’s controversial cartoons include one of the national emblem with lions replaced by blood-thirsty wolves, and another depicting the parliament in New Delhi as a huge toilet bowl.

One sketch titled “Gang Rape of Mother India” shows a woman draped in the Indian flag being held down by a politician and a bureaucrat as a horned animal depicting corruption appears ready to attack her.

Trivedi, who is currently taking part in the Indian equivalent of the “Big Brother” reality show, told AFP last week that the case had not deterred him from his political drawings.

“I will keep on with my campaign against corruption, my cartoons and my art,” he said.

“My anger was against corruption. This whole case was just a part of the story.”

- AFP

Chinese student in acid, hammer attack in Australia

Posted: 12 Oct 2012 01:32 AM PDT

SYDNEY: A Chinese university student was today critical in an Australian hospital after a fellow Phd student allegedly threw acid in his face and then hit him over the head with a hammer.

Police said a 26-year-old man had been charged with attacking a 25-year-old fellow student at a chemistry research laboratory at the University of New South Wales in Sydney yesterday.

“It’s alleged one student threw a chemical, believed to be sulphuric acid, in another student’s face before hitting him on the head with a hammer during an altercation,” police said in a statement.

Both men are Chinese nationals studying for their PhDs, the university said.

The victim, named by media as Cheng Xiaoyu, was taken to St Vincent’s Hospital for emergency treatment but was later moved to Royal North Shore Hospital’s Burns Unit where he is in a critical condition in an induced coma.

His alleged attacker, Zhang Rui, appeared in a Sydney court today where he did not make a bail application.

Magistrate Jacqueline Milledge said that Zhang would be transferred to a mental health facility for evaluation before appearing in court again on November 29.

- AFP

Tahap air empangan Pertak rendah tanda krisis air di S’gor?

Posted: 12 Oct 2012 01:27 AM PDT

Click here to view the video on YouTube.

PETALING JAYA: Dua pihak bertentangan pendapat mengenai tahap air di Empangan Pertak.

Masyarakat Orang Asli yang tinggal berhampiran mendakwa empangan tersebut kering. Operator loji air Sungai Selangor pula menyatakan bahawa tahap air yang berkurangan kerana operasi empat loji selama 24 jam.

“Ia bergantung kepada hujan,” katanya.

Walau bagaimanapun pihak operator menidakkan kemungkinan berlakunya krisis air di Selangor yang menjadi isu antara kerajaan persekutuan dan kerajaan negeri.

Ikuti kisah seterusnya di video.

Ahli PAS perlu nilai kenyataan Shahnon

Posted: 12 Oct 2012 01:14 AM PDT

KEPALA BATAS: Tun Abdullah Ahmad Badawi meminta masyarakat terutama ahli PAS menilai sendiri kenyataan Sasterawan Negara
Prof. Emeritus Datuk Dr Shahnon Ahmad yang mempertikaikan perjuangan parti itu sekarang.

Bekas Perdana Menteri itu berkata berkata kenyataan Shahnon jelas menggambarkan rasa kecewanya terhadap parti itu yang semakin tersasar daripada perjuangan asal mereka.

“Saya tidak perlu komen apa-apa kerana semua orang melihat dan mendengar apa yang beliau (Shahnon) cakap, jadi mereka (orang ramai) terutama ahli parti itu (PAS) patut berfikir.

“Saya juga rapat dengan beliau (Shahnon) dan saya percaya apa yang dia cakap itu adalah reaksi dan luahan kepada parti itu (PAS) yang dilihat tidak memperjuangkan dasar politik mereka,” katanya kepada pemberita, di sini hari ini.

Abdullah yang juga Anggota Parlimen Kepala Batas ditemui selepas Program ‘Jom P Bantu’ anjuran Lembaga Kemajuan Wilayah Pulau Pinang (Perda).

Beliau diminta mengulas kenyataan Shahnon tentang perjuangan politik PAS yang tidak lagi menepati kehendak Islam apabila bekerjasama dengan DAP.

Menurut Shahnon yang juga anggota PAS seumur hidup, tindakan parti itu menuruti kehendak politik DAP bercanggah dengan kehendak Islam kerana PAS sepatutnya memimpin dalam memperjuangkan Islam.

- Bernama

‘In the dark’ IGP: Who said that?

Posted: 12 Oct 2012 01:06 AM PDT

KUALA LUMPUR: Immigration Department director-general Alias Ahmad had confirmed that his officers were stopping certain travellers at airports based on a list furnished by the Bukit Aman police headquarters.

But when the question of a police list was posed to Inspector-General of Police Ismail Omar today, the latter seemed to be in the dark.

"Who said that? Who?" he asked, visibly puzzled.

"Can you confirm that with the Immigration [Department]?" he added. "[Is that claim] from the right channels or hearsay?" he was quoted as saying.

Ismail had initially said that the Immigration Department had the right to stop travellers for checks when quizzed on such incidents involving several Bersih leaders.

"It is the right and process of the Immigration to stop [travellers]," he said.

Yesterday, FMT had obtained a confirmation from Alias regarding the list, after Bersih co-chaiperson S Ambiga claimed that she was stopped for no reason.

Ambiga, who was at the Kuala Lumpur International Airport to board a flight to Australia, said she was held at the auto-gate for about 10 minutes on Tuesday night.

The former Bar Council president claimed that it was an act of harassment.

This morning, two other Bersih steering committee members K Arumugam and Toh Kin Woon were stopped at the LCCT and KLIA airports respectively.

Prior to Ambiga, other Bersih leaders who suffered similar treatment were Maria Chin Abdullah, Wong Chin Huat, Yeo Yang Poh and Andrew Khoo.

Also read:

Two more Bersih leaders stopped at airports

Bersih leaders stopped on police order

Keep your promise, S’gor MB told

Posted: 12 Oct 2012 01:05 AM PDT

PETALING JAYA: Disgruntled residents of Petaling Jaya Selatan (PJS 1) want Selangor Menteri Besar Khalid Ibrahim to intervene and start immediate construction of houses promised to them in December last year.

Representing the 276 affected families, PJS1 Block E action committee chairman M Sugumaran said if the state government was serious about helping them, it should be proactive in plans to build low-cost houses for the affected residents.

“We are fed up with both Barisan Nasional and Pakatan Rakyat government. For the last 54 years Indians have been suppressed by the BN government and it is now Pakatan’s turn… both are the same,” he told FMT today.

According to him, in a meeting with residents at the end of last year Khalid gave several options to the affected house buyers.

One option was starting two affordable housing projects at the land near Taman Kanagapuram and near the longhouses, with the units being offered to Block E buyers at RM99,000, from the original price of RM160,000.

Another option was for them to be relocated to the Projek Perumahan Rakyat Termiskin (PPR) flat at Lembah Subang 2 and a cash payment of RM20,000.

“Since all options were rejected by us, the state government said that it had identified a plot of land nearby PJS to build low-cost houses for the 276 families, but it did not give any further details about the land. If the state government was serious, then it should just clear the land and start construction,” said Sugumaran.

“They [state government] had earlier offered a PPR flat worth RM35,000 and RM20,000 in cash, totalling RM55,000. And it is not a big deal for the state government to build low-cost houses with the money,” he added.

Sugumaran also said the Petaling Jaya City Council (MBPJ) has allocated RM500,000 to repair 29 long houses situated in PJS 1.

“The 29 families are part of the 276 families, and they are living in deplorable conditions,” said.

He also said MBPJ deputy mayor Puasa Md Taib had promised to sort out the long houses problem within the next two months.

“We met the MBPJ officials today after a small protest in front of MBPJ. They have promised to look at issues at the longhouses,” he added.

‘Nothing wrong with PM’s frequent Sabah visits’

Posted: 12 Oct 2012 01:01 AM PDT

KOTA BELUD: Salleh Said Keruak has scoffed at reports that the Barisan Nasional is running scared and that the frequent visits by the Prime Minister Najib Tun Razak to Sabah are to shore up flagging spirits.

"The ones being very afraid is the opposition actually and that's why their big wigs are often in Sabah," Salleh, the Sabah Umno deputy head and Kota Belud division chief, said after chairing Kota Belud Umno management committee.

He said the visit of Najib to Sabah showed that he was a caring prime minister and there was nothing wrong for him to visit any state for as many times as he pleases.

"It is his prerogative as he wants to see for himself the implementation of the various development as well as infrastructure projects that have been done as promised under the various Malaysia Plans as well as the government Transformation Programme and Economic Transformation Programme," said Salleh.

"If Najib did not visit Sabah at all or limited his trips to once or twice a year, these very same people would be singing a different tune. They would then claim that the prime minister is uncaring."

Najib is on his fifth visit to Sabah this weekend which will take him to the state's northernmost town of Kudat where he will participate in the Jelajah Janji Ditepati programme at the Kudat Stadium.

On Sunday morning, he is also expected to flag off the men's climbathon event. At both places he will also have a walk-about to get first-hand information from the people.

So far this year, he has travelled most parts of Sabah, or in terms of regions – all regions in the state, and is the only prime minister who has come to Sabah most times in a year.

Salleh said Sabahans are proud to have a prime minister who takes the welfare of the people to heart and that his frequent trips to the state meant he could see for himself and understand the situation here.

Umno terlibat seludup wang ke Hong Kong

Posted: 12 Oct 2012 12:59 AM PDT

PETALING JAYA: Datuk Seri Mohamed Nazri Abdul Aziz mengakui wujudnya wang sebanyak RM40 juta milik seorang ahli perniagaan yang diseludup melalui Hong Kong adalah untuk sumbangan kepada Umno Sabah.

Menteri di Jabatan Perdana Menteri mengenai hal ehwal undang-undang itu mengaku berlakunya kejadian ini di Dewan Rakyat semalam, demikian menurut Ketua Penyelaras Solidariti Anak Muda Malaysia (SAMM) Kebangsaan, Badrul Hisham Shaharin.

Badrul Hisham @ CheguBard berkata, seorang ahli pernigaan bernama Micheal Chia telah ditahan Lapangan Terbang Antarabangsa Hong Kong pada 14 Ogos 2008 dengan matawang Singapura berjumlah RM40 juta di dalam bagasinya sebelum menaiki pesawat menghala ke Kuala Lumpur.

“Namun berita ini diselindung sebaik mungkin dan tidak mendapat liputan dari media tempatan,” katanya dalam satu kenyataan media hari ini.

Menurut beliau, terbaru semalam apabila hal ini dibangkitkan semula oleh Ahli Parlimen Batu Tian Chua ekoran jawapan bertulis yang diperolehinya dari Menteri terbabit yang mengatakan ia bukan wang untuk Ketua Menteri Sabah Tan Sri Musa Aman tetapi untuk Umno Sabah.

Bankrap negara

“Apa yang harus disedari ialah mungkin dalam keghairahan regim pertahan pemimpin mereka maka mereka tidak sedar secara tidak langsung diakui bahawa penyeludupan wang RM40 juta itu memang wujud. Makanya apa tindakan undang-undang terhadap kejadian yang diakui wujud itu?

CheguBard yang juga Ketua PKR Cabang Rembau menegaskan, untuk membela Musa, Nazri mengakui wang itu bukan untuk Musa secara peribadi tetapi untuk Musa selaku Ketua Umno Sabah maka ini bermakna sahlah Umno Sabah terlibat dalam penyeludupan wang.

Kata beliau, menurut satu sumber, wang tersebut ada kaitan dengan kawasan balak yang diluluskan di Sabah dan adalah amalan biasa sebahagian keuntungan harus dipulangkan sebagai dana politik untuk komponen Barisan Nasional (BN) atau terus kepada pemimpin tertentu.

“Bukan sedikit wang negara diseludup keluar berkaitan kepentingan pemimpin BN,” jelas CheguBard.

Contoh katanya sebelum ini terbongkar bagaimana Menteri Besar Negeri Sembilan Mohamad Hasan dikaitkan dengan penyeludupan wang RM10 juta ke London dan setelah didapati sahih berlaku, hanya syarikat penghantaran yang dihukum dengan lesennya ditarik.

“Inilah pengkhianat sebenar menjejaskan ekonomi negara. Sudahlah terlibat merompak wang rakyat terlibat pula melarikan wang keluar negara.

“Yakinlah jika regim ini terus berkuasa pasti tidak akan ada antara mereka yang diambil tindakan, lebih penting kegiatan mereka ini akan pasti membankrapkan negara,” ujar beliau.

‘Start enforcing AES to punish offenders’

Posted: 12 Oct 2012 12:52 AM PDT

GEORGE TOWN: The Consumer Association of Penang (CAP) has urged the relevant authorities to stop dithering and immediately enforce the Automated Enforcement System (AES) to punish traffic offenders.

An upset CAP president Mohamed Idris stressed that AES was urgent and crucial to nab speedsters and traffic light offenders to prevent unnecessary loss of lives.

He is upset that despite its urgency, punitive action via AES has yet to see the light at the end of tunnel due to the authorities' hesitation to enforce the system.

"The authorities should once and for all stop their flip-flops and implement and enforce the system to save lives," he said in a statement here today.

In recent days, the authorities have reiterated their commitment to enforcing the AES soon, but a pessimistic CAP remains unconvinced, suspecting "another flip-flop could be in the making yet again."

"AES should be enforced without further delay. Stop all these flip-flops in the name of saving lives.

"Stop dithering and continue with the implementation before we lose more lives," said Idris.

The 2010 amendment to the Road Transport Act has paved the way for implementation of AES after a long delay.

Cameras were installed at 14 locations for the first phase and have been in operation since last month.

Within the first eight days of operation from Sept 23, 63,558 offenders were caught on camera.

No action

But what irks CAP was that no summons was issued to any offender, contrary to public announcement that summons would be issued once the first phase of AES was in full operation.

But Idris said all the public could hear now was that the system had caused a great deal of unease and confusion among motorists.

He said the relevant authorities seemed to have failed to do their homework before implementing the project.

MPs have also called for a freeze on AES to allow a further review.

But Idris insisted that there was "no justification to delay enforcement of AES for the fourth time".

Ancient Maya murals found

Posted: 12 Oct 2012 12:47 AM PDT

CHAJUL, (Guatemala): In a ramshackle home in Guatemala’s rural highlands, farmer and odd job man Lucas Asicona made for an unlikely guardian of ancient Mayan treasures – until he decided to redo his kitchen.

When he pulled back the plaster in his humble colonial-era home of stone, adobe and haphazard wooden boards, he discovered 300-year-old murals, a priceless piece of Guatemalan history.

Scenes of tall Europeans beating drums and playing flutes stare out over the one-room dwelling where his family including five children cooked, slept and played.

So he carefully drew back the furniture and moved his wood burning kitchen stove outside to protect the treasured artwork, an informal curator of Guatemala’s rich past.

“We try to keep the kids away from it and keep people from touching it,” said Asicona, 38, who discovered the murals by chance in 2005 during renovation work at his home, which has been in his family for generations.

“The house is very humid and some of the colors have been fading. The black has started to turn gray and some of the other colors have lost their shine, but we do what we can without any funding,” he added.

Asicona is among four householders in Chajul, an Ixil Maya community some 220 miles from Guatemala City, struggling to preserve murals revealed after peeling back plaster on the walls of ancient homes. Experts believe similar murals could lie hidden in a further eight homes in the town.

Painted by the current occupants’ Mayan ancestors, the friezes cover several walls of the homes, whose colonial history is glimpsed in details including heavy hardwood doors and carved stone pillars propping up modern tin roofs.

The murals provide a unique visual record of the moment in history when the local Maya – some depicted in plumed costumes – encountered the tall, bearded conquistadors from Spain who tried to convert them to Christianity.

Historians says the murals peeping through the plaster at Asicona’s home illustrate the so-called “conquest dance,” from a time in the 1650s when Spaniards forced locals to build a Catholic Church which still stands at the center of town.

Other paintings in a neighbor’s home show spiraling fireballs that local lore says fell from the sky at the height of the colonial encounter in the 17th century and were thought by the Maya to be a sign of anger from the gods.

“We consider these murals to be very unique,” Guatemalan anthropologist Ivonne Putzeys said of the trove found in the pine-ringed highland town. “It’s tangible heritage that represent real scenes from history.”

Doing the best we can

Mayan civilization thrived between AD 250 and 900 and extended from modern day Honduras to central Mexico. It left behind a trove of pyramids and dozens of distinct Mayan groups who continue to endure.

Around half of Guatemala’s 14.5 million people are of indigenous descent, many of whom continue to speak 21 officially recognized languages and wear brightly colored traditional dress.

Historians in Chajul say conserving the rich pictorial heritage is vital for the town of 25,000 people, which was settled four centuries ago by Mayan groups who fled Spanish settlers in Antigua, a few kilometres from Guatemala City.

“Throughout our history, our people painted these murals so that their stories wouldn’t be forgotten,” said historian Felipe Rivera.

But in a country where more than half the population live in poverty, conservation is proving a challenge.

Asicona said he last contacted the government for help in 2007 but never received a response. Like other families, he says he is simply doing his best to conserve the friezes.

After making the discovery, Asicona swiftly made repairs to his home to prevent leaks during the country’s soggy rainy season and pushed the family’s beds to opposite walls where his kids jump up and down.

Cabinets have been moved to the center of the room in order to keep dust from dirtying the murals.

He has received visitors from as far away as Europe who have paid up to US$10 dollars to come in and see the paintings, but without more support he worries that the prized artwork could disappear.

“We keep the house up as best we can,” he said. “We have contacted the government about the paintings, but (all we get are) promises and no action.”

Culture Ministry spokesman Sergio Igax said that for the families to receive funding to preserve the murals, the homes have to be declared national heritage – a long process that involves lots of paperwork.

He said the ministry had not received a request from Chajul for an evaluation in recent years.— Reuters

Iran’s sea trade buckles under Western sanctions

Posted: 12 Oct 2012 12:27 AM PDT

LONDON: Iran’s vital seaborne trade is buckling under the weight of Western sanctions, deepening hardship for a population deprived of basic imports and heaping intense pressure on Tehran over its nuclear programme.

Many of Iran’s imports, including food and consumer goods, arrive on container, bulker and other ships, but the number of vessels calling at its ports has dived by more than half this year as the United States and European Union tighten the screws.

Analysts doubt the Iranian economy is near collapse, even though its rial currency has plunged in the last few weeks, but they say some shortages and rising prices of imported goods could provoke public unrest directed at Tehran’s leadership.

A growing number of Western companies, especially those in shipping and related businesses, are pulling out of trade with Iran due to the complexities of deals and tougher banking restrictions as the sanctions take hold – and out of fear of losing business elsewhere.

“Iran’s commercial shipping sector has suffered a significant hit,” said Anthony Skinner of risk analysts Maplecroft.

“Although US and EU sanctions do not target food shipments, importers struggle to acquire letters of credit and transfer funds. I expect current sanctions and the further tightening EU sanctions to sour the appetite of the international commercial shipping sector further.”

The United States and the EU have led the sanctions push, hoping to force Iran to halt its nuclear programme which they suspect is aimed at making weapons. Tehran says the work is peaceful, but the trade measures are hurting shipping badly.

Data from maritime intelligence publisher IHS Fairplay showed the overall number of vessels calling at Iranian ports in the year to early October was 980. That figure for more than three quarters of this year compares with 2,740 ships for the whole of 2011 and 3,407 for 2010.

Of that total, the number of visits by container ships – which carry consumer goods ranging from foodstuffs and household items to clothing and toys – was 86 so far this year, compared with 273 for the whole of 2011 and 378 in 2010.

The world’s top container firm Maersk Line said this week it had stopped port calls to Iran, citing the risk of damaging trade opportunities especially in the United States.

“Lower shipping volumes may also mean that importing vital commodities will be increasingly hard, leading to possible riots over inflation,” said Alan Fraser, Middle East analyst with security firm AKE.

Only eight refrigerated cargo vessels carrying fresh produce including bananas called at Iranian ports so far this year, down from 16 in 2011 and 36 in 2010, the IHS Fairplay data showed. Even fishing trawlers unloading their catch have slumped to five from 14 last year and 20 in 2010.

Starved of dollars as the sanctions curb oil exports, Iran bought large amounts of grain earlier this year using other currencies. Nevertheless dry bulk ships, which can carry cereals and commodities such as coal and iron ore, have also made fewer port calls with 100 arrivals so far compared with 352 in 2011 and 406 in 2010.

“You start to see Iran reaching a balance of payment crisis particularly on the imports side when a plummeting currency, which makes imports exceedingly expensive, is compounded by external sanctions,” said Mark Dubowitz with the Washington-based Foundation for the Defense of Democracies.

“The combination of these factors is making it difficult for Iran to buy what it needs from abroad and pay for these goods and services,” said Dubowitz, who has advised US President Barack Obama’s administration and US lawmakers on sanctions.

‘Almost a black hole’

Official Iranian data is not readily available and officials in the country could not be reached for comment. Iran’s fleet has taken steps to camouflage its sea trade to discourage foreign attention.

“Iran is almost a black hole these days and it’s hard to find even reliable schedules for their main container liner,” a European ship industry official said. “They are doing everything they can to remain invisible, including changing the names of their ships to discourage people from tracking them.”

In just 10 days up to last week, the rial plunged about 35% in the free market to a record low against the dollar, a consequence of Iran’s declining oil income.

Mohammad Hussein Dajmar, managing director of the Islamic Republic of Iran Shipping Lines (IRISL), said this week that the central bank had blocked US$50 million of the company’s assets – reflecting the acute shortage of US currency.

This is restricting the supply of foreign currency, which Iran’s top commercial cargo shipper needs to pay bills outside the country and keep operating.

“Unfortunately this step by the Central Bank presents many problems for the company,” he was quoted as saying by the Iranian Students’ News Agency. “The Central Bank is holding this amount as foreign currency and is only ready to return the rial equivalent of it to us,” he said.

On top of this, the central bank would pay the rials at the official rate of 12,260 to the dollar, far from the open market rate of more than 30,000.

IRISL, which has been on a Western blacklist of sanctioned entities for a number of years, denies any wrongdoing and has struggled with the tougher conditions.

Supreme Leader Ayatollah Ali Khamenei told Iranian officials this week to stop bickering over the economic problems. These have fed criticism of President Mahmoud Ahmadinejad by political enemies eager to pin the blame on his administration.

“Sanctions are a long way from causing economic collapse,” AKE’s Fraser said. “However, its (Tehran’s) options are narrowing and internal criticism is likely to produce growing splits within the different political camps. The Ahmadinejad camp looks like it could be the most likely casualty of these.”

Iran can also bring in goods overland but business intelligence firm Business Monitor International (BMI) has forecast imports still falling 10% this year.

It also estimates a 5% drop in 2013 for a country with a growing population, compared with a 1.2% rise estimated for last year. BMI forecast Iran’s economy will contract 1.2% and 0.3% in 2012 and 2013 respectively versus estimated growth in real terms of 0.7% in 2011.

“As a result of EU and U.S. sanctions on the oil sector, export growth will fall dramatically and this will be felt at the country’s ports,” said BMI shipping analyst Daniel Richards.

“In addition, tighter sanctions on the financial industry will deter investment and private consumption will stay subdued, due in large part to high inflation, which will curb imports of containerised goods into the country.”

More pain ahead

Iran has faced an exodus of international companies providing marine-related services including certification of its fleet, which is vital for securing insurance and ports access. Earlier this year, sanctions pressure also led to the near collapse of an Iranian-led shipping venture with an Indian firm.

Another package of proposed sanctions by the United States and EU aims to tighten the economic noose on Tehran yet further.

“There is strong momentum now to target non-humanitarian commercial imports to Iran in order to put significant pressure on its balance of payments and bring the economic cripple date closer,” Dubowitz said.

- Reuters

Terbantut akal bila baca Utusan

Posted: 12 Oct 2012 12:23 AM PDT

PETALING JAYA: Exco kanan kerajaan negeri Kelantan, Datuk Husam Musa mengakui bahawa sejak tujuh lapan tahun kebelakangan ini, setiap kali beliau menatap akhbar Utusan Malaysia beliau seperti terbantut akal, tidak mampu berfikir dan terasa diri diperbodohkan.

“Berbeza ketika zaman kanak-kanak saya adalah pembaca setia Utusan. Di Kelantan, akhbar milik Umno itu sampai di sebelah petang,” kata beliau yang juga Ahli Dewan Undangan Negeri Salor dalam suratnya kepada Ketua Pengarang, Utusan Malaysia.

Malang kata beliau, bagi sebuah institusi media yang disegani, dibina oleh pelopor dan pejuang awal, akhirnya tertiarap di kamar Mahkamah atas satu isu demi satu isu yang lain.

“Hampir saban minggu Utusan didakwa atas pelbagai saman malu, fitnah dan berita bohong. Terakhir, pengakuan Chamil Wariya, Utusan telah mengubah cerpen gubahan Chamil. Serendah itu, Utusan menjatuhkan dirinya?,” keluh beliau.

Menurut Husam, penjelasan beberapa paderi atas laporan Utusan yang membarakan api permusuhan agama, menjadikan Utusan kelihatan seperti mesin propaganda murahan yang rendah mutu dan kehilangan kompas akhlak.

Katanya, pendedahan kian tersebar bahawa (Perdana Menteri) Datuk Seri Najib Tun Razak menemui bilionaire George Soros secara diam -diam di Amerika Syarikat sewaktu Utusan menghayun serangan bertubi-tubi terhadap pelbagai pihak sebagai agen Soros.

“Belum lama laporan muka depan Utusan 'Lagi Kaitan Soros'. Kenapa Utusan tidak sanggup memasukkan laporan pertemuan itu di muka depan? Najisnya Soros pada mata Utusan seharusnya tidak membedakan sesiapa.

“Bertemu, bersua muka dan 'secara sulit beragenda' dengan Soros, tanpa dimaklumkan kepada rakyat jelata, menjadi sebesar-besar tanda tanya: dalam poket Soroskah pemimpin kita?,” tanya beliau.

Husam juga menyoal, “apakah yang dibincangkan? Apa pentingnya PM yang baru memegang jawatan menemui 'Penyangak Yahudi' (seperti logik di ketengahkan Utusan) seperti Soros?

“Tidak dapat tidak kita memerlukan pendekatan rasional dan manipulasi keterlaluan akhirnya hanya menjerat leher pemasang jerat itu sendiri.

“Lebih menghibakan, sekali sekala terkilas laporan muka depan Utusan berunsur seks (yang dipolitikkan) yang sangat keterlaluan.

Sampai kesannya kepada generasi muda dan anak-anak kecil parahnya tidak dapat lagi dijangkau,” ujar beliau dalam surat itu.

Do you feel lucky on 10-11-12?

Posted: 12 Oct 2012 12:16 AM PDT

NEW YORK: Dale Frost met his boyfriend Mark Massey on a numerically significant date – August 9, 2010, or, 8-9-10. So when the couple got engaged in December, it felt natural to them to hold their wedding on another rare date, October 11, 2012 – 10-11-12.

Across New York City, couples eager for good luck on their wedding day flocked to request marriages licenses on Thursday.

“It doesn’t happen very often. It was just something cool,” said Frost, 23.

In fact, just two more opportunities to tie a special event like a wedding to a sequential date exist this century, November 12, 2013 — or 11-12-13 — and December 13, 2014 — or 12-13-14.

Frost and Massey live in Columbus, Georgia – a state where same-sex marriages are not legal – so they decided to travel to one of the six states that recognize unions like theirs. New York began recognizing same-sex marriages in 2011.

The city clerk’s office said a full count was not immediately available, but at the Manhattan Marriage Bureau there seemed to be more whoops and tears than usual.

There may be no Chinese proverb or other mystical connection to the sequential date, but wedding industry officials know it has a special allure.

David’s Bridal, one of the largest US  bridal chains, estimates that 4,000 brides will get married on this date, up nearly fivefold from a year ago.

“Whether these dates are seen as lucky or symbolic, it seems the trend is here to stay,” the company said in a statement.

A survey conducted by David’s Bridal found that 43 percent of US brides have considered getting married on what they consider a lucky or iconic date, such as 10-11-12, or this coming December 12 – 12-12-12.

In Las Vegas, MGM Grand’s Forever Grand Chapel has a special numerology package set for this date. For $1,400, couples get the chapel, a pianist, minister fees, limo service and floral and photo packages. MGM is offering the same deal for 12-12-12.

Meanwhile, Maya and Matthew Mosca welcomed their third child at New York-Presbyterian Hospital/Weill Cornell Medical Center and the couple said they got a kick out of the perfectly sequenced date and time of birth.

Ethan Mosca came into the world at 2:34 a.m. on 10-11-12.

“I’m not that superstitious but it’s my child and I’d like to hope it means something great,” said Maya.

Or, at the very least: “He will learn his numbers easily!” she said.—Reuters

Japan govt cuts economic view for 3 months in row

Posted: 12 Oct 2012 12:00 AM PDT

TOKYO: Japan’s government downgraded its view of the economy for the third straight month in October as worries about Europe’s debt crisis and China’s slowdown intensified, adding pressure on the central bank to offer further stimulus to support growth.

It was the longest streak of downgrades since five straight months of cuts made just after the collapse of Lehman Brothers in 2008, underscoring Tokyo’s growing alarm that the prolonged overseas slowdown may again nudge Japan into recession.

Economics Minister Seiji Maehara (photo) said that while it was too early to judge whether Japan may slip into recession, the economy’s trend was weak as weak global demand hurt exports.

“A further slowdown in global growth and volatility in financial markets may hurt Japan’s economy, which are risks we must be vigilant to,” Maehara told a news conference today.

The downgrade in assessment followed the Bank of Japan’s warning last week that economic activity was levelling off and may not recover until well into next year.

“The economic recovery has had a weak tone recently due to a slowdown in the global economy, although some steadiness is still seen,” the government said in its latest monthly report released today.

Slackening overseas demand and weak exports also prompted the government to lower its assessment on factory output and corporate sentiment.

Pressure on BOJ

Japan’s economy has so far outperformed most of its peers in the Group of Seven helped by spending on reconstruction from last year’s earthquake and tsunami. But weak external demand and a strong yen have led analysts to project growth will likely stall for the rest of this year.

The International Monetary Fund also trimmed its growth forecasts for Japan, as factory output fell to a 15-month low in August on sagging sales to top export market China and business sentiment worsened in the three months to September.

Adding to headaches for policymakers is the impact of a territorial dispute with China, which has sparked anti-Japan protests in China and calls for boycotts of Japanese goods.

“Trouble stemming from the (territorial dispute) is affecting businesses including the auto sector, which would also impact other related industries such as materials and iron and steel,” said Minoru Masujima, director of macroeconomic analysis at the Cabinet Office, which is charged with compiling the monthly report.

The government’s bleak assessment adds pressure on the Bank of Japan for action ahead of its rate review on Oct 30.

At the meeting, the central bank is set to cut its long-term growth forecasts and admit that it will take take several more years for Japan to achieve its 1% inflation target, and bring to an end a long-running deflationary era.

The economics minister, a vocal advocate of more aggressive monetary easing, kept up calls for further BOJ action, saying that the central bank has a responsibility to achieve its price target at an early date.

“We will continue to call for powerful monetary easing by the BOJ,” Maehara said.

- Reuters

Kedah belum wajibkan model papan tanda bertudung

Posted: 11 Oct 2012 11:53 PM PDT

PETALING JAYA: Wanita Islam yang tidak memakai tudung masih boleh menjadi model papan tanda iklan di Kedah.

Bagaimana Exco kanan kerajaan negeri, menegaskan wanita Islam dan yang bukan Islam yang menjadi model papan tanda mesti berpakaian sopan.

Datuk Phahrolrazi Zawawi berkata, kerajaan negeri belum melaksanakan undang-undang kecil untuk mewajibkan model wanita Islam mesti bertudung.

Bagaimanapun, tambahnya, kerajaan negeri menggalakkan model Islam bertudung manakala yang bulan Islam berpakaian sopan.
“Wanita Islam digalakkan bertudung, manakala yang bukan Islam bersopan. Wanita yang berbikini tidak dibenarkan sama sekali,” katanya sambil berseloroh.

Ketika dihubungi hari ini, Phahrolrazi, Exco kerajaan tempatan berkata,  beliau tidak tahu menahu  dengan keputusan Majlis Bandar Raya Alor Setar (MBAS) yang meminta wanita Islam memakai tudung manakala wanita bukan Islam berpakaian sopan.

Tindakan MBAS itu dibidas Pengerusi MCA negeri, Datuk Chong Itt Chew yang mahu majlis mengambil kira penduduk yang berbilang kaum.

“Undang-undang kecil pihak berkuasa tempatan mengenai perkara ini belum dilaksanakan tetapi kita sedang membincangkannya.

“Kerajaan negeri belum laksana undang-undang menutup aurat tetapi kita ada undang-undang mengenai perkara itu.

“Tetapi kita galakan orang Islam menutup aurat. Iklan dalam tv pun sudah menutup aurat,” kata Phahrolrazi lagi.

Knives drawn over China writer’s Nobel win

Posted: 11 Oct 2012 11:46 PM PDT

BEIJING: Chinese dissidents assailed Mo Yan’s Nobel literature prize as a disgraceful vindication of the Communist Party’s control of creative expression today, accusing the author of being a stooge of officialdom.

While China continued to bask in the prize with an outpouring of pride that contrasted with the fury that greeted previous awards linked to the country, opponents of China’s government branded it a shameful validation of state controls on publishing.

Dissident artist Ai Weiwei ripped into Mo Yan as a government stooge and ridiculed the official response by Beijing, which lashed out at earlier Nobel peace prizes for Tibet’s spiritual leader the Dalai Lama and dissident writer Liu Xiaobo.

“(Mo Yan) will always stand on the side of power and he will not have one bit of individualism,” Ai told AFP, adding “so people don’t know if they should laugh or cry over this Nobel prize.”

Ai called Mo Yan – who is reportedly a Communist Party member – a “very ordinary” author and accused Chinese authorities of double standards, saying the names of other China-linked prizewinners “will never be seen inside China”.

Prominent Chinese dissident Wei Jingsheng, considered by many the father of China’s modern democracy movement, criticised the prize as an effort to appease Beijing after the angry reaction to Liu’s 2010 peace award.

Wei praised Mo Yan, 57, as a writer but questioned his independence, noting that he had copied by hand a speech by late Communist founder Mao Zedong – delivered at his rebel base at Yanan during China’s civil war – for a commemorative book this year.

In the speech Mao says art and culture should support the Communist Party.

“Just look at the elated hype on the Nobel prize by the Chinese government before and after the announcement. We could tell that this prize was awarded for the purpose of pleasing the communist regime and is thus not noteworthy,” Wei said.

In sharp contrast to its past Nobel vitriol, China’s government mouthpieces went into overdrive to praise Mo Yan, the first Chinese national to win the literature prize.

“Chinese authors have waited too long for this day, the Chinese people have waited too long. We congratulate Mo Yan!” said the People’s Daily, official outlet for the ruling Communist party.

Official Xinhua news agency said the government deserved credit for its policy of gradually opening up the economy and society since Mao’s era.

“Without China’s opening up and reform policy, his (Mo Yan’s) ilk would not have flourished,” it said.

Mo Yan has said he was “stunned” and delighted by the award.

But Yu Jie, an exiled dissident writer, was quoted by German broadcaster Deutsche Welle as calling it “the biggest scandal in the history of the Nobel prize for literature”.

“That an author who copied Mao Zedong’s Yanan text and sang the praises of Mao Zedong can earn the prize — the number of people Mao Zedong slaughtered surpasses even that of Stalin and Hitler,” he reportedly said.

The prolific Mo Yan is known for exploring the brutality of China’s tumultuous 20th century with a cynical wit in dozens of works.

But even some state-run media implied ulterior motives were behind the award.

“Could the decision also be a sign of the Nobel committee seeking to mitigate tensions with China after awarding the Peace Prize to Liu Xiaobo in 2010?” asked the Global Times.

Some of Mo Yan’s work has cast an unflattering eye on official policy, such as his 2009 novel “Frog”, which looks at China’s “one child” limit and the local officials who implement it with forced abortions and sterilisations.

Literary critics have said Mo Yan has dodged censure by deftly avoiding overt criticism of authorities. He is also vice-chairman of the officially endorsed China Writers’ Association.

Mo Yan, a pen name for the author, who was born Guan Moye, is best-known abroad for his 1987 novella “Red Sorghum”, set amid the brutal violence that plagued the eastern China countryside, where he grew up, during the 1920s and 30s.

It was later made into an acclaimed film by leading Chinese director Zhang Yimou.

AFP has been unable to reach Mo Yan, whose mobile phone has remained powered off. He received the news of the award at his home in rural Shandong province, where many of his works are set.

- AFP

A diamond bigger than Earth?

Posted: 11 Oct 2012 11:41 PM PDT

LONDON: Forget the diamond as big as the Ritz. This one’s bigger than planet Earth.

Orbiting a star that is visible to the naked eye, astronomers have discovered a planet twice the size of our own made largely out of diamond.

The rocky planet, called ’55 Cancri e’, orbits a sun-like star in the constellation of Cancer and is moving so fast that a year there lasts a mere 18 hours.

Discovered by a US-Franco research team, its radius is twice that of Earth’s with a mass eight times greater. That would give it the same density as Earth, although previously observed diamond planets are reckoned to be a lot more dense. It is also incredibly hot, with temperatures on its surface reaching 1,648 Celsius.

“The surface of this planet is likely covered in graphite and diamond rather than water and granite,” said Nikku Madhusudhan, the Yale researcher whose findings are due to be published in the journal Astroph—ysical Journal Letters.

The study – with Olivier Mousis at the Institut de Recherche en Astrophysique et Planetologie in Toulouse, France - estimates that at least a third of the planet’s mass, the equivalent of about three Earth masses, could be diamond.

Diamond planets have been spotted before but this is the first time one has been seen orbiting a sun-like star and studied in such detail.

“This is our first glimpse of a rocky world with a fundamentally different chemistry from Earth,” Madhusudhan said, adding that the discovery of the carbon-rich planet meant distant rocky planets could no longer be assumed to have chemical constituents, interiors, atmospheres, or biologies similar to Earth.

David Spergel, an astronomer at Princeton University, said it was relatively simple to work out the basic structure and history of a star once you know its mass and age.

“Planets are much more complex. This ‘diamond-rich super-Earth’ is likely just one example of the rich sets of discoveries that await us as we begin to explore planets around nearby stars.”

“Nearby” is a relative concept in astronomy. Any fortune-hunter not dissuaded by “The Diamond as Big as the Ritz”, F.Scott Fitzgerald’s jazz age morality tale of thwarted greed, will find Cancri e about 40 light years, or 230 trillion miles, from Park Avenue.

- AFP

Asian markets mixed, Tokyo hit by Softbank loss

Posted: 11 Oct 2012 11:36 PM PDT

HONG KONG: Asian markets were mixed today as earlier gains from promising US jobs figures and hopes for upcoming Chinese economic data were offset by concerns over the global economy.

Japanese shares were also hit by a plunge in telecom giant Softbank after it emerged it is eyeing a near US$13 billion deal to buy Sprint Nextel of the United States, in what would be one of Japan’s biggest ever overseas deals.

Tokyo closed 0.15%, or 12.66 points, lower at 8,534.12, Sydney was flat, edging up 3.1 points to 4,486.6 and Seoul was also almost unchanged, nudging 0.17 points higher to 1,933.26.

In the afternoon Hong Kong added 0.55% while Shanghai eased 0.10%.

Hopes for the US economy were given a boost yesterday when the Labor Department said insurance benefits plunged unexpectedly last week to the lowest level since February 2008.

New jobless claims, a sign of the pace of layoffs, came in at 339,000 in the week to Oct 6, far below the previous week’s 369,000 and the then four-week average of 375,500.

Those figures come on top of data last week showing the unemployment rate had fallen to 7.8 percent in September.

But on Wall Street the Dow fell 0.14% while the Nasdaq and S&P 500 were both flat.

Eyes are now on China, which will release tomorrow its trade figures for September, with investors hoping for an improvement on recent months that have revealed tumbling exports and imports as the demand in key markets dries up.

Beijing will on Monday release inflation data, followed by crucial gross domestic product figures.

Traders are also hoping leaders will soon introduce a fresh round of stimulus as a once-in-a-decade leadership transition approaches next month.

Investors are, however, still concerned after the International Monetary Fund this week slashed its growth forecasts across the world, citing the festering debt crisis in Europe, a stuttering recovery in the United States and a slowdown in China.

Adding to the worries is Spain’s continued refusal to ask for a bailout from international lenders despite the terrible state of its finances.

In Tokyo, broad advances stoked by a weak yen were held back by a 16.68% slump in Softbank, the country’s third biggest telecoms firm, after it said it was in talks to buy Sprint for US$12.8 billion.

Kenji Shiomura, strategist at Daiwa Securities, said: “Investors were discouraged by the possibility that the company could be saddled with a heavy financial burden.

“Putting aside the point of whether the deal could be successful in the long run, the market is cautious.”

On forex markets the euro benefited from increased risk sentiment. In early trade it bought US$1.2930, compared with US$1.2926 late yesterday in New York, while it was also up at 101.31 yen from 101.25 yen.

The dollar gained to 78.35 yen from 78.33 yen.

Oil prices were mixed. New York’s main contract, light sweet crude for delivery in November, rose 23 US cents to US$92.30 a barrel while Brent North Sea crude for November shed 24 US cents to US$115.47.

Gold was at US$1,769.70 at 0600 GMT compared with US$1,770.18 late yesterday.

In other markets, Taipei fell 0.20%, or 14.68 points, to 7,437.04. TSMC rose 0.94% to Tw$86.3 while Chunghwa Telecom fell 0.64% to Tw$92.8.

Wellington rose 0.34%, or 13.35 points, to 3,896.66. Chorus added 0.6% to NZ$3.36 and Fletcher Building was up 0.1% at NZ$7.25.

- AFP

Beverage tycoon tops Forbes’ China rich list

Posted: 11 Oct 2012 11:32 PM PDT

SHANGHAI:  Beverage tycoon Zong Qinghou regained his position as China’s richest man this year, Forbes magazine said Friday, but the global economic slump took its toll on other billionaires.

Zong, who heads soft-drink producer Wahaha, has a fortune of $10 billion, according to the magazine’s influential annual ranking of China’s 400 richest people, helping him win back the position he lost last year.

A similar list released last month by the China-based Hurun Report also crowned Zong as China richest, but put his wealth at $12.6 billion.

Last year’s number one on the list, construction equipment magnate Liang Wengen, slid to sixth place with $5.9 billion as his Sany company was hit by weak demand for new building projects caused by a slowdown in China’s economy.

Forbes said the number of US dollar billionaires fell to 113 this year from 146 in 2011, while the wealth of China’s top 100 richest people fell seven percent to $220 billion.

“This year we encountered a long period of economic difficulty that’s rarely been seen in the past decade,” editor of Forbes China Zhou Jiangong told a news conference.

“This is a year which saw wealth created by Chinese entrepreneurs shrinking,” he said.

Wu Yajun, who runs property giant Longfor, is the country’s richest woman, with a fortune of $6.2 billion. She is also one of five property magnates in the top 10, despite government controls on the sector aimed at curbing speculation.

In a country that has the largest online population in the world, it is perhaps not surprising that two Internet billionaires made the top ten.

Robin Li, co-founder of China’s top search engine Baidu, held on to second place, despite a slide in his company’s stock price, with wealth of $8.1 billion.

And Ma Huateng, the owner of Tencent, which operates popular instant messaging and microblog services, took fourth spot with $6.4 billion.

Wang Jianlin, of property developer Wanda, is at number three with $8 billion.

China’s economy recorded annual growth of 7.6 percent in the second quarter this year, its worst performance in three years. The government will next week announce third-quarter performance.

The world’s second-largest economy has been rocked by Europe’s debt crisis and the weak US recovery, prompting Beijing to cut interest rates and ramp up infrastructure spending to spur growth.

-AFP

Li Ka-shing’s CK Holdings hotel unit eyes US$800m IPO

Posted: 11 Oct 2012 11:31 PM PDT

HONG KONG: Hong Kong tycoon Li Ka-shing’s property firm Cheung Kong (Holdings) Ltd plans to list its extended stay hotel business in a deal that could raise up to US$800 million, IFR reported today, citing sources with knowledge of the plans.

The offer would be only the second by an investment trust in Hong Kong, which competes for listings with Singapore where business trust IPOs are common. The deal is slated to take place
before the end of the year, added IFR, a Thomson Reuters publication.

Initial public offerings (IPOs) in Hong Kong have plunged more than 80% in 2012 from 2011, with investors ignoring new issues after being burnt by the poor performance of several large listings last year.

The proposed deal would be similar to a real estate investment trust (REIT), offering investors fixed returns through annual yield payments. Investment trusts in Hong Kong are only allowed to invest in one industry, unlike in other jurisdictions.

The hotel offering follows the US$1.2 billion IPO last year of HKT Trust, the telecom business spin-off of PCCW Ltd HKT Trust has soared nearly 50% since the offering, compared with a 19.6% gain in the benchmark Hang Seng index.

“This IPO is a good decision,” said Alvin Cheung, associate director at Prudential Brokerage in Hong Kong. “The market is unstable because of the effects from Europe and some investors
are afraid of the market, so to diversify and for prudence, they will look to put money in some stable or high yield investment tool.”

Business trusts are popular with companies because they allow them to raise cash without relinquishing control. In a business trust model, the trust sells units to investors, but control of the business is left with the trustee manager, who is usually an affiliate of the company establishing the trust.

Cheung Kong said in a securities filing the listing application for the investment trust was submitted yesterday.

The company plans to spin off the extended stay hotel business into Horizon Hospitality (Holdings), which will own four hotels, two in Kowloon and two in the New Territories, which together have 4,833 suites.

Extended stay hotels typically offer suites that are larger than hotel rooms and facilities such as kitchens.

The trust will list share-stapled units, also known as stapled securites. Immediately following the completion of the transaction Cheung Kong and its telecoms-to-ports conglomerate affiliate, Hutchison Whampoa Ltd, will in aggregate hold less than 30% of the trust. Cheung Kong will retain
control of the trustee manager, called Magnificent Merits Ltd.

Each share-stapled unit comprises a unit of Horizon Hospitality Investments, a preference share in Horizon Hospitality (Holdings) and an interest in ordinary shares of Horizon Hospitality (Holdings) held by the trustee manager.

Bank of America Merrill Lynch, DBS and Standard Chartered were hired to handle the investment
trust offering, IFR added.

- Reuters

India’s outsourcer Infosys reports profits rise

Posted: 11 Oct 2012 11:29 PM PDT

BANGALORE: Indian IT outsourcer Infosys said today net profit rose 24.3% in the three months to September, but warned of uncertainties for the industry in the face of slowing global economic growth.

Consolidated net profit for the fiscal second quarter rose to 23.7 billion rupees (US$450 million) from 19.06 billion rupees a year earlier, the Bangalore-based firm said in a statement to the Bombay Stock Exchange.

“Global economic uncertainties continue to face the industry,” said chief executive SD Shibulal in a statement.

Shares in the group fell 7.56% to 2,340 rupees in early trade today after the firm kept its forecast for full-year revenues unchanged, reiterating that it expected a 5.0% rise.

Revenues rose 21.7% to 98.58 billion rupees for the second quarter.

Most of India’s IT outsourcing firms say the outlook for the industry remains difficult because of uncertainty in the key US and European markets.

Infosys last month announced it had agreed to buy Zurich-based consulting firm Lodestone for US$350 million, which would add more than 200 clients across industries to Infosys’ clientbase.

Shibulal called the deal a “transformational acquisition”.

- AFP

Stan Lee Media sues Disney

Posted: 11 Oct 2012 11:25 PM PDT

LOS ANGELES: Stan Lee Media, a company that says it controls the rights to Marvel characters including Spider Man and Iron Man, has filed suit in US District Court in Colorado against the Walt Disney Co seeking “billions of dollars of profits.”

Stan Lee, no longer associated with the company, created many of Marvel’s stable of comic book characters. The company claims Lee assigned it his rights to those characters in 1998 but then agreed a month later to assign the same rights to Marvel Enterprises.

Disney acquired Marvel Enterprises, which had been renamed Marvel Entertainment, in 2009 for US$4.3 billion.

“The Walt Disney Company has represented to the public that it, in fact, owns the copyright to these characters as well as hundreds of other characters created by Stan Lee,” the suit alleges. “Those representations made to the public by the Walt Disney Company are false.”

The lawsuit focuses on successful movies based on Marvel characters that Disney has released since its Marvel acquisition. Those films include “The Avengers,” which has grossed more than US$1.5 billion in worldwide sales and is second only to “Avatar” and “Titanic,” according to movie site Box Office Mojo.

“This lawsuit is without merit,” Walt Disney said in a statement. “It arises out of the same core facts and legal claims that have been rejected by three federal district court judges.”

Stan Lee Media, which said it was created in 1999 to “sue to recover damages to its assets,” has been involved in what it called a “somewhat tortured history” of litigation dating from 2001 over corporate governance issues and the characters rights in cases filed in Colorado, New York and California.

They include suits between the company, its shareholders and Lee.

The latest suit claims that Stan Lee Media owns the rights “to the billions of dollars that Disney has generated, or allowed others to generate”. It cites more than US$3.5 billion from motion pictures, and what it calculates is more than $2 billion from “other media,” merchandising and the Broadway show “Spiderman: Turn off the Dark.”—Reuters

Official status of Islam ‘a political move’

Posted: 11 Oct 2012 11:20 PM PDT

KLANG: The recognition of Islam as official religion in the Federal Constitution was a political move as the Reid Commission has never intended to do so, said Universiti Tunku Abdul Rahman (Utar) professor Chin Chong Foh.

Speaking to some 500 people at a debate themed "Hudud law: Divert attention or potential threat" in Wisma Teng Chin, here last night, Chin said the five-member Reid Commission formed in 1956 was not in favour of recognising Islam as the official religion in a multiracial country.

To prove his case, he produced a Sin Chew Daily report dated Feb 21, 1957, in which the commission said that Islam was not stipulated as the official religion and Malay privileges would be reviewed after 15 years.

"The reason why it was added in later was that there was ethnic tension; some radical Malays within Umno had asked for the new country not to grant citizenship to the non-Malays.

"So in order to compromise, MCA agreed for Umno to put Islam as the official religion in return for citizenship for non-Malays," he said.

The debate was organised by Radio Bangsar Utama, where DAP’s Hew Kuan Yew took on MCA Youth publicity chief Kow Cheong Wei.

PAS member Kamal Koh and Chin were speakers at the debate.

In a reply to a question about Islamisation in Malaysia from the moderator Tang Ah Chai, Chin pointed out that an amendment was made in the 1988 to make Syariah Court's verdict untouchable.

He said prior to that, Syariah Court was always deemed as secondary legal avenue as its verdict could be challenged through the civil court.

"In 1988, the amendment made to Article 121 (1A) of the Federal Constitution was passed in Parliament with two-thirds majority.

"Umno MPs didn’t oppose the bill, neither did MCA. On the other hand, most of the DAP MPs were in Kamunting [detained under the Internal Security Act]," he said, drawing a round of booing from the audience.

Chin said while it might be hard to implement hudud law now due to the inadequate number of Muslim MPs in Parliament, it may not be the case in the next 40 years.

"Come 2050, Muslim population will definitely surpass 80% and Muslims will definitely be the majority in Parliament," he said.

Hence, he said it would be best if non-Muslims can look into the issue rationally and engage in discussions with the Muslims.

Also Read

Hudud a mathematical impossibility

MORE TO FOLLOW

Fire up your exercise

Posted: 11 Oct 2012 11:18 PM PDT

We all know breakfast as the most important meal of the day. But what about foods that power up your workouts? Next to hydrating well, the right foods can help optimise your performance and up your energy levels.

Before the workout

Carbohydrates provide fuel for the muscles and prevent depletion of glycogen stores. Glycogen is the body's energy source that helps you through your exercise. The best form of carbohydrates to choose is complex carbohydrates, such as wholegrains and fruits. Complex carbs, or unrefined carbs, will ensure your energy levels are sustained for much longer, as they require a longer time to digest.

Avoid sugar-ladenned foods such as soda and cereal high in sugar. You will feel a burst of energy initially, as these will spike your blood sugar level, but that will dissipate immediately, living you feeling fatigued instead.

Abstain also from having deep-fried foods as they are hard to digest and may cause a tummy upset during high-intensity exercise. And the best time to consume these foods? Four hours before working out. Alternatively, having a small snack one or two hours before your workout works well, too.

Pre-workout foods

Wholegrain cereals, yoghurt, fruit, whole-grain bagels, oatmeal.

After the workout

Choosing the right foods after a workout is just as important. Here is when you need to have your muscles recover. It is also when your metabolism is at its peak.

You should eat within 30 to 45 minutes after your exercise to restore glycogen levels and repair muscle tissue. Foods high in carbohydrates and protein are ideal in recovering and rebuilding muscles.

Post workout foods: Egg sandwich on wholemeal English muffin, peanut butter and jelly on wholegrain bread, yoghurt, raw nuts, wholegrain cereal with reduced-fat milk, wholemeal tosai or capati. And don't forget to drink lots of fluids. Because dehydration slows down your metabolic rate by 2 percent , it can leave you feeling sluggish after.

Samsung eyes sales boost with launch of Galaxy Note II

Posted: 11 Oct 2012 11:04 PM PDT

KUALA LUMPUR: Samsung Malaysia Electronics Sdn Bhd expects the launch of the Galaxy Note II to boost its overall sales performance for this year.

Its head of mobile phone division, Vincent Chong Weng Kai, said the target was achievable based on the overwhelming response to the first-generation of smart devices in the local market before.

“We expect the sales of the new smartphones to increase threefold compared with the first-generation Galaxy Note’s” he said at the launch of the Galaxy Note II yesterday.

Chong said the company’s sales in Malaysia for the first nine months of this year were strong.

“The company is confident the mobile phone segment would continue to contribute significantly to the company’s sales for this year,” he said.

He said the Galaxy Note II will be available in marble white and titanium gray here from Oct 19.

“It will be available at all Samsung’s relay partners like DiGi, Maxis, and Celcom and operators from Oct 19 and retail at RM2,299,” he said.

Samsung Electronics Co Ltd is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2011 consolidated sales of US$143.1 billion.

- Bernama

Probe Nazri’s claim about the US$13 million

Posted: 11 Oct 2012 11:00 PM PDT

FMT LETTER: From Bruno Manser Fund, via e-mail

Minister in the Prime Minister’s Department, Mohd Nazri Abdul Aziz, said that the 16 million Singapore dollars (US$13 million) smuggled out of Hong Kong by Malaysian businessman Michael Chia were funds belonging to Umno, and not to Sabah Chief Minister Musa Aman.

The minister’s stunning statement is obviously aimed at exonerating the embattled Sabah Chief Minister, and is likely to create new problems for the Malaysian government.

On Aug 14, 2008, Chia was caught red-handed at the Hong Kong International Airport with the money in his luggage before boarding a flight to Kuala Lumpur. Chia is a close associate of Musa Aman, and the brother of Foreign Minister, Anifah Aman, both Umno members.

Chia’s arrest triggered an investigation by Hong Kong’s Independent Commission Against Corruption (ICAC) which asked the Swiss and Malaysian authorities for legal assistance.

The Swiss government provided legal assistance to Hong Kong in March 2011 and has since confirmed that UBS is the only Swiss bank involved in the “MUSA Bin Aman et al.” legal assistance case. Based on a complaint by the Bruno Manser Fund, Switzerland’s Attorney General opened a criminal investigation against UBS over money-laundering on Aug 29, 2012.

Documents submitted by the Bruno Manser Fund to the Swiss prosecutors show that Chia played a central role in cashing in kickbacks from logging companies which were granted timber harvest and log export concessions by Yayasan Sabah, a public body controlled by the Sabah Chief Minister.

The Bruno Manser Fund is shocked by Nazri’s claim that Hong Kong-laundered Umno funds, which were secretly cashed in from logging companies in return for favours, should not be linked to corruption.

Nazri’s statements reveal the extent of collusion with illegal logging by the highest levels of the Malaysian government.

The Bruno Manser Fund calls on His Majesty Tuanku Abdul Halim, to appoint an independent special prosecutor in order to investigate the failure of Malaysia’s legal and political system in this matter.

PAS tak konfiden sangat menang di Kedah

Posted: 11 Oct 2012 10:16 PM PDT

PETALING JAYA: Peluang PAS Kedah untuk kekal memerintah negeri dalam pilihan raya umum ke 13 adalah 50-50.

Bagaimanapun, menurut orang nombor dua PAS negeri, parti itu ada kelebihan  kerana rakyat yakin dengan kerajaan negeri sedia ada.

“Kita (PAS) tidak konfiden sangat untuk menang lagi di Kedah dalam PRU 13…peluang sama rata antara PAS dan BN.

“Kita tidak ambil muda dengan BN kerana beberapa kerusi DUN yang PAS menang  dengan majoriti kecil sahaja.

“Tetapi beberapa kerusi yang dimenangi BN adalah dengan majoriti kecil juga.Tetapi kerana PAS yang memerintah, kita ada kelebihan. Lagi pun Kedah ialah negeri teras bagi PAS. Sebelum ini kita tidak memerintah juga menang beberapa DUN,” kata Timbalan Pesuruhjaya PAS negeri, Datuk Phahrolrazi Zawawi.

PAS bersama Pakatan Rakyat merampas Kedah selepas mengalahkan BN dalam PRU 2008.

Bagaimanapun, Phahrolrazi mengakui kemenangan PAS pada 2008 kerana sokongan pengundi bukan Melayu berbeza dengan 1999 yang dibantu pengundi orang Melayu.

Tidak takut Dr M

“Pada PRU 12 (2008), pengundi bukan Melayu menyokong kita, di kawasan-kawasan 40 peratus bukan Melayu, PAS menang.

“Berbeza 1999, PAS menang di Kedah kerana sokongan pengundi Melayu bukan dari pengundi bukan Melayu,” tambahnya lagi.

Phahrolrazi menegaskan PAS negeri tidak membuat kajian mengenai kecenderungan rakyat Kedah dalam PRU 13 tetapi beliau percaya mereka boleh menerima kerajaan negeri pimpinan PAS.

Katanya, rakyat tidak ada masalah dengan kerajaan negeri sepanjang pemerintahan sejak empat tahun lalu.

Beliau menambah, bekas Perdana Menteri Tun Dr Mahathir Mohamad  tidak boleh membantu BN merampas negeri itu dalam PRU 13.

“Orang Umno sendiri pun bukan semua menyokongnya, apatah lagi rakyat negeri Kedah. Kita tidak takut dengan Dr Mahathir,” kata Phahrolrazi lagi.

Now Sonia’ son-in-law in the soup

Posted: 11 Oct 2012 10:00 PM PDT

India can rightfully claim to be the corruption capital.

No week passes without some skeleton of scandal stumbling out of the storeroom. Often these bony horrors are pulled out by the media or social activists.

The latest sleaze is all about Sonia Gandhi's son-in-law, Robert Vadra. Married to Priyanka Gandhi, he now finds himself getting deeper into a web allegedly spun by the real estate developer, DLF.

Of course, Vadra must have walked into it with eyes fully open, for the deal or deals helped him as well to build assets worth hundreds of crores of rupees.

Anti-corruption crusader and newbie politician Arvind Kejriwal has revealed enough evidence that points to political influence and favouritism benefiting both Vadra and the DLF.

Although the DLF has been screaming its rebuttals and Vadra himself desperately doling out clarifications, it appears that there has been an unhealthy relationship between the company and the member of India's most powerful political family, the Gandhis.

Documents purportedly reveal how Vadra rose from a small-time brassware exporter to a big real estate operator through business deals that helped the DLF secure land on favourable terms and the scion of the political family make his money.

In short, Vadra's political connection and clout reportedly opened the doors for the DLF. In return, the firm is said to have given Vadra interest-free loans and real estate at huge discounts. Vadra's fortunes touched the sky.

A cornered Vadra bawled like a child whose toy has been taken away. He called Kejriwal and his team "Mangoes in a Banana Republic" on Facebook. (And, a little later closed his account.)

Now, this was seen as sacrilege by many. The common man was offended, and most citizens hated the fact that a member of the Gandhi family had described India as a Banana Republic.

Lack of intelligence

Twitter bugs went on an overdrive. One of them said with sarcasm dripping, "Sonia Gandhi was very embarrassed on hearing Robert Vadra is worth Rs 300 crores. In political terms, that is below the poverty line." Another Twitter decried how it took India's first business family, Tatas, a hundred years to become billionaires.

But the senior editor of Firstpost, Lakshmi Chaudry, had the sharpest arrow to dart at Vadra.

"We will never solve the mystery behind the miracle that is Robert Vadra. But his saving virtue for the Gandhi family is clear: He makes his brother-in-law [Rahul Gandhi] look like Albert Einstein."

In her article, she had also gone on to wonder how Priyanka could have married Vadra.

"Now, the Gandhis have typically married down: Feroze [Indira Gandhi's husband) was a no-name backbencher, Maneka [Indira's other daughter-in-law – the first being Sonia – who married Sanjay) a beauty pageant type, and Sonia will perennially remain "that Italian waitress" to her detractors.

So a petty trader from Moradabad (Vadra) isn't exactly unprecedented. What makes Robert Vadra exceptional is that he is astoundingly, indisputably dumb.

While neither the Gandhis nor their spouses have been towering intellectuals, none of them have come remotely close to matching Vadra's lack of intelligence.

Mr Robert Vadra must be the most hated man in India today.

Gautaman Bhaskaran is a Chennai-India based author, columnist and film critic, and can be contacted atgautamanbhaskaran@yahoo.in. He is an FMT columnist.

Two more Bersih leaders stopped at airports

Posted: 11 Oct 2012 09:43 PM PDT

PETALING JAYA: Two more Bersih leaders were stopped at airports this morning while attempting to board international flights.

K Arumugam and Toh Kin Woon, both Bersih 2.0 steering committee members, said they were delayed for about 10 minutes at the immigration check point.

“This morning I was stopped at the LCCT terminal for about 10 minutes at the immigration counter,” read an SMS from Arumugam to the Bersih secretariat.

“When I tried the auto-gate it did not open, and an officer came to my help and took my passport for verification. She said she needed to consult a senior officer.

“After about 10 minutes she came back and said I am cleared. But refused to give any details except that I am disallowed to use the autogate,” he wrote.

Arumugam was on his way to Chennai for a meeting.

Claiming harassment, he said that he was unsure if it was related to the ongoing investigation of Suaram or his role in Bersih 2.0.

Meanwhile, Toh Kin Woon said he was subjected to unusually long and unnecessary checks at the Kuala Lumpur International Airport.

“The lady at the counter did not clear me and needed to consult a more senior officer who took close to 10 minutes to check and finally clear me,” he told FMT.

Toh, who was heading to Bangkok for a holiday, said he was unsure if it was considered “harassment”, but said: “It is definitely strange and never happened before”.

Five other Bersih leaders had been similarly stopped in recent months. They included S Ambiga, Andrew Khoo, Maria Chin Abdullah, Yeo Yang Poh and Wong Chin Huat.

Yesterday, the Immigration Department told FMT that it was acting on the directive of the police when it stopped Bersih leaders at the airports.

Also read:

Bersih leaders stopped on police order

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