Emerging markets take breather from rally of the decade |
- Emerging markets take breather from rally of the decade
- Enough with the attacks already, Rais Yatim tells Dr M
- Despite big military budget, US admits not ready for cyber warfare
- A quick look at Apple Watch’s pre-installed apps and staples
- Remote island of St Helena opens for tourism
| Emerging markets take breather from rally of the decade Posted: 14 Apr 2015 06:36 PM PDT
The Ibovespa slid for the first time in four days after data showed a surprise drop in Brazilian retail sales. Chinese stocks trading in Hong Kong declined from the highest level since 2008. The Micex Index slid to a two-week low in Moscow. The rouble extended the world's best currency rally as Russia prepared for the biggest debt auction in 15 months. The MSCI Emerging Markets Index dropped 0.5 per cent to 1,036.77, ending an 11-day gain that pushed the gauge's valuation to 12.5 times the projected earnings of its members. The gauge has advanced 8.4 per cent this year. That compares with a 4.1 per cent increase in the MSCI World Index, which trades at a multiple of 17. "Emerging market stocks are taking a breather," Michael Wang, a strategist at Amiya Capital LLP in London, said by e- mail. "Given the earnings outlook, valuations aren't that attractive." Emerging-market stocks were little changed for the year before the 11-day rally began as oil-price volatility and a standoff between the new Greek government and its creditors offset bond purchases by the European Central Bank and interest-rate cuts from India to Turkey. This month's advances amid speculation China will boost stimulus have helped emerging-market stocks outpace their developed-country peers. Russia, Brazil "Valuations are becoming expensive," Danny Wong Teck Meng, chief executive officer of Areca Capital Sdn, which manages RM800 million, said by phone from Kuala Lumpur. "Time to start to be selective in stocks. It is not a broad-based surge any more." United Co Rusal fell 3.7 per cent in Moscow, extending its four-day drop to 11 per cent. The company that was dethroned last year as the world's largest aluminum producer restated its 2014 results on Monday to a loss of US$91 million (RM344m) from a profit of US$293 million. The Micex declined 1.8 per cent. The rouble appreciated 2.2 per cent to 50.897 per dollar. the currency has gained 22 per cent in the past month as oil prices stabilised and a cease-fire in Ukraine held. Russia's Finance Ministry will offer 30 billion roubles (RM2.17b) of OFZ bonds at an auction on Wednesday, the most since January 2014. The Ibovespa declined 0.5 per cent as consumer stocks including homebuilder Gafisa SA tumbled. Brazil's retail sales declined 0.1 per cent in February from a month earlier, the national statistics agency reported. The median forecast of economists surveyed by Bloomberg was for a 0.2 per cent increase. Chinese growth The Shanghai Composite Index climbed 0.3 per cent before the release of economic growth data today. China's first-quarter growth probably fell to seven per cent, the slowest pace since the first quarter of 2009, according to a Bloomberg survey. Tencent Holdings Ltd, the operator of Asia's most-popular message services, tumbled the most in a year in Hong Kong after its chairman, Ma Huateng, cut his stake to 9.65 per cent from 9.86 per cent. The Hang Seng China Enterprises Index dropped the most since January as China Merchants Bank Co lost 6.1 per cent. The premium investors demand to own emerging-market debt over US Treasuries increased three basis points to 348 basis points, according to JPMorgan Chase & Co indexes. — Bloomberg  |
| Enough with the attacks already, Rais Yatim tells Dr M Posted: 14 Apr 2015 06:32 PM PDT
Rais, who served in various capacities under both men, reminded the former prime minister that the latter's administration was also not flawless and that he should allow current leaders the opportunity to govern freely. "Each has black marks on his administration and track record. Each has his contributions and achievements. Airing dirty laundry in public at this level will not benefit the people or country. "Enough already," he wrote in a recent Facebook post. He added that Najib and his deputy, Tan Sri Muhyiddin Yassin, be given the space to shape the administration in their own mould as long as they address any mistakes made. Any judgement on their service and performance could be done during the 14th general election, he said. Besides Rais, other Barisan Nasional (BN) and Umno leaders have urged the two men to make peace following Dr Mahathir's recent attacks, saying that continued acrimony would be damaging to the government and Malaysia. In recent remarks, Dr Mahathir said he could no longer remain silent and that the days for diplomacy have long passed, adding he will now push for Najib's resignation openly. He said the prime minister's refusal to address allegations such as those surrounding 1 Malaysia Development Bhd (1MDB) and linking him to the murder of Altantuya Shaariibuu put BN's rule at risk. Najib responded last week via a televised interview with TV3, during which he said Dr Mahathir's criticism was due to his desire for the "Crooked Bridge" to be revived and the 1 Malaysia People's Aid (BR1M) discontinued. The so-called "Crooked Bridge" was Dr Mahathir's idea to replace the Causeway, but was discontinued by his successor, Tun Abdullah Ahmad Badawi, and believed to be among reasons why the latter was hounded out of office by the man who put him there. Across the weekend, Dr Mahathir reportedly said BR1M was spent on ingrates when others, such as those on the island of Langkawi in his home state, were in much greater need. |
| Despite big military budget, US admits not ready for cyber warfare Posted: 14 Apr 2015 06:23 PM PDT
The military's cyber command, created in 2009, lacks the means to lead an offensive campaign in a fast-moving digital conflict, said Eric Rosenbach, the Pentagon's principal adviser on cyber security. Asked by Senator Bill Nelson if the command lacks the computer network infrastructure to carry out a cyber offensive "effectively," Rosenbach said: "Yes, they currently do not have a robust capability." But when it comes to defending US networks, "we are in good shape," he told a Senate Armed Services subcommittee on emerging threats. His comments were unusual because officials previously have suggested the military was ready to lead an offensive digital campaign if necessary. Rosenbach told senators there was no shortage of resources or funding for cyber command but there were technical and manpower problems that had to be tackled. Pentagon chief Ashton Carter was following the issue closely and was ready to support more investment in cyber command as needed, he added. Carter is reviewing a new cyber strategy for the military that is due to be released next week, he said. Cyber command, in preparing options for offensive digital operations, was prepared to go after some civilian targets, Rosenbach said, "but in a very precise and confined way." Any offensive action would adhere to the laws of war and seek to avoid causing civilian casualties, he said. But in response to questions from lawmakers on what a possible offensive operation might entail, Rosenbach said he would prefer to discuss the subject in a closed door, classified hearing. Experts and former officials have cited the computer worm Stuxnet that disrupted Iran's nuclear program in 2010 as an example of a suspected joint US-Israeli digital operation. US cyber command is supposed to create a force of about 6,000 personnel for all the branches of the armed forces. The Pentagon recently said it hoped to reach that by 2016 but Rosenbach said the military will not meet that objective until 2018. He blamed automatic budget cuts in recent years that had undermined training efforts. — AFP |
| A quick look at Apple Watch’s pre-installed apps and staples Posted: 14 Apr 2015 06:23 PM PDT
Just like the iPhone and iPad, the Apple Watch comes pre-installed with all your basic apps. These include the essentials, such as Phone, Messages, Mail, Siri and Maps, but also Photos, Music, Weather, Stocks, Passbook, Remote and Camera Remote, which allows you to take photos with your iPhone. In addition, two apps will be even more firmly geared towards health: Workout, a fitness tracker, and Activity, a basic daily activity tracker. Obviously, the watch also includes world clock, alarm, timer and stopwatch functions. The iPhone's most popular apps also already have their Apple Watch versions ready to go. This is the case for Twitter, Instagram, Evernote, Wunderlist, TripAdvisor and Shazam. News, e-commerce and sports Among the first apps to be finalised and approved by Apple are Transit App and Citymapper (public transport), News Republic and Flipboard (news aggregators), Nike+ Running (running), Strava (cycling tracker), Runtastic Six Pack (personal trainer), Onefootball (sports scores), Sky Guide (astronomy), Kitchen Stories Cookbook (recipes), Babbel (language instructor) and AMPLIFiRemote (guitar tuner). Brands are also getting in on the action, whether for airline reservations (Air France, British Airways, EasyJet), train tickets (thetrainline), car services (Uber) or hotel rooms (Hotels.com). Others are imminent, most notably Facebook. There are also a few very specific apps worth mentioning, notably BMW iRemote, which allows you to see if your doors are locked, view service reminders and see how far along a charge is on an electric BMWi. As an added bonus, you can also remotely adjust your cabin temperature. The Apple Watch is available for pre-order. The first generation of the Apple Watch is available in three models: Apple Watch Sport, from US$349 (RM1,290) to US$399, the "classic" Apple Watch, from US$549 to US$1,100 and Apple Watch Edition, from US$10,000 to US$17,000. The Edition model has an 18-karat gold body with sapphire crystal and ceramic back. ― AFP-Relaxnews |
| Remote island of St Helena opens for tourism Posted: 14 Apr 2015 06:19 PM PDT
Framed by craggy volcanic cliffs soaring 800 metres (2,600 feet) above sea level, the South Atlantic island measures just 122 square kilometres (75 square miles) — smaller than central Paris. Uninhabited when it was discovered by the Portuguese in 1502, Saint Helena was founded under British rule in 1659. It now has 4,200 inhabitants, about 850 living in the small capital of Jamestown, the only port, located on the island's northwestern coast. Despite being close to the equator with a latitude of 15 degrees South, St Helena has a varied climate, with a cactus-studded dry coast and humid interior lush with eucalyptus trees and Ireland-like pastures. Its closest neighbour is Ascension Island, another British territory 1,200 kilometres (750 miles) to the northwest. Angola is nearly 2,000 kilometres (1,200 miles) to the east, the Brazilian coast 2,900 kilometres (1,800 miles) to the west. With its steep cliffs and rocky outcrops close to the shore, the island is particularly perilous. Its isolation and hostile terrain—the fort-like cliffs make defending the island easy—have long made St Helena a prized possession of the British who have sent their most reviled and dangerous enemies to perish there.
In 1815, Napoleon was banished to the island until his death in 1821. After him, the Zulu chief Dinizulu kaCetshwayo was sent there in 1890. A decade later, some 6,000 prisoners of the Boer war followed. The colonial policy of island exile continued as recently as 1957, when three Bahraini princes opposing British policy in the Middle East were sent to St Helena. Currently, the only way to get to the island is by boat—usually a five-day journey from Cape Town. But that will change in February 2016, when St Helena starts a weekly flight service to Johannesburg. St Helena, an overseas British territory, has its own pound notes and coins featuring images of the Queen. The currency is fixed at parity with the British pound sterling. The island issues stamps—one of its few sources of income—and is set to introduce cell phone service by the end of 2015. St Helenians, or "Saints" as they are known, enjoy British nationality. That privilege was revoked in 1983 by Prime Minister Margaret Thatcher but restored in 2002. The country elects an assembly of 12 members, five of who sit on local government, chaired by a governor sent from London. Living mostly on British grants and expat income, St Helena imports almost everything it needs from Britain and South Africa. Its exports include fish, mostly tuna, and some coffee. Yet many hope the new airport will turn tourism into a major source of revenue. — AFP-Relaxnews |
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