Tuesday, December 1, 2015

Bomb blast hits nervous Istanbul near metro station

Bomb blast hits nervous Istanbul near metro station

[ISTANBUL] An explosion caused by a home-made bomb rocked an Istanbul metro station on Tuesday, triggering panic in the evening rush hour and wounding up to half a dozen people.
The local mayor and the state-run Anatolia news agency confirmed a bomb caused the blast, which came at a time of growing jitters over security in Istanbul and the risk of a militant attack in Turkey's largest city.
The blast, which was heard in several areas of the city, hit an overpass close to the metro station in the Bayrampasa district of Istanbul.
"Five of our citizens were injured when a pipe bomb left on barriers on the overpass exploded," Atilla Aydiner, the district mayor, told A-Haber television.
Security sources were also quoted by the Dogan news agency as saying the blast appeared to have been caused by a home-made bomb.
The metro system in Istanbul was brought entirely to a halt after the blast, the municipality said, although normal service was gradually restored.
Other reports had said the cause of the blast could have been linked to an electrical transformer and that six people had been injured.
Video footage on Dogan showed large sparks shooting out like fireworks from the overpass, lighting up the sky near the height of evening rush hour.
Dogan also said a truck on the overpass was damaged by the explosion with holes on its windscreen, while other pictures showed a bus with blown-out windows.
Large numbers of ambulances were dispatched to the scene, as commuters were helped to safety, reports said.
Anatolia said it was being investigated whether the bomb had been aimed at a police bus that was damaged in the attack.
There was no immediate claim of responsibility for the explosion.
"The cause of the explosion is not clear. We are investigating all possibilities," Istanbul governor Vasip Sahin was quoted as saying by Anatolia.
He gave a lower toll of just one person injured. "It was a large explosion, right in a central location and in a busy place but fortunately there was no loss of life."
Turkey is on alert for attacks after 103 people were killed on October 10 when two suicide bombers ripped through a crowd of peace activists in the capital Ankara, the worst attack in modern Turkey's history.
Turkey has in recent weeks detained several suspected members of the Islamic State (IS) group with officials saying they were planning attacks in Istanbul.
The Paris attacks on November 13 Paris that left 130 people dead and were claimed by the Islamic State group also raised fears over Istanbul's potential vulnerability to a similar assault.
But Turkey is also waging an all-out assault on the outlawed Kurdistan Workers Party (PKK) who have staged dozens of deadly attacks against members of the security forces but largely in the southeast of the country.
Meanwhile the banned ultra-left wing group the Revolutionary People's Liberation Party-Front has also staged a string of usually small-scale attacks in Istanbul over the last months.
There have been repeated security alerts on Istanbul's expanding metro system in the last months but until now all had proved to be false alarms.
AFP

'Visa waiver' travelers would be fingerprinted under US Senate bill

'Visa waiver' travelers would be fingerprinted under US Senate bill

[WASHINGTON] Travelers to the United States from "visa waiver" nations would have to provide fingerprints and photos under a US Senate bill to intensify scrutiny of foreigners, one of several border-tightening measures offered since the Paris attacks.
The measure is the latest to propose tightening US border control since the Nov 13 shootings and bombings in France by Islamic State militants that left 130 people dead, triggering a wave of fear across the United States.
The bill was introduced on Tuesday by a bipartisan group of senators led by Democrat Dianne Feinstein and Republican Jeff Flake.
It would also require individuals who had visited Syria or Iraq in the last five years to get a traditional US tourist visa before heading for the United States, rather than taking advantage of the "visa waiver" programme.
Under that programme, travelers from 38 countries, including much of Western Europe, can embark for the United States without first getting a visa from a US consulate or embassy in their home country.
About 20 million visitors a year enter the United States under the programme, which allows them to stay 90 days.
US officials privately admit they are more worried about possible Islamic State or other Europe-based militants using the visa waiver programme to enter the United States than they are by the possibility that would-be attackers might hide among droves of US-bound refugees fleeing conflict in Syria and Iraq.
The Feinstein-Flake bill would also increase the fee charged by the United States to visa waiver travelers, now US$14. Travelers who get visas from US embassies or consulates now must pay a fee of US$160.
Feinstein and Flake did not say how high they wanted to raise the fee for visa waiver travelers.
The bill was greeted with skepticism by a travel industry representative. Jonathan Grella, executive vice-president of the US Travel Association, said a pre-travel fingerprinting requirement could deter travelers from the United States.
"The US travel community strongly supports sensible security enhancements to the visa waiver programme. What we cannot support are steps that ultimately dismantle the programme and set back America's economy and our efforts to protect the homeland,"the trade organisation said in a statement.
Obama administration officials said they have already taken steps to tighten scrutiny of visa waiver travelers.
In August, the administration said it would require the use of an Interpol database containing reports of lost and stolen passports to screen passengers, and the reporting of suspected"foreign fighters" to international security agencies such as Interpol, a US official said.
However, the administration had not proposed either requiring visa waiver passengers to submit fingerprints in advance of travel or increasing fees. A congressional official said the fingerprinting requirement in the bill would most directly affect first-time travelers to the United States.
REUTERS

Singapore shares open higher on Wednesday after Wall Street rises

Singapore shares open higher on Wednesday after Wall Street rises

SINGAPORE'S benchmark Straits Times Index was at 2,895.17 points at 9.07am on Wednesday, up 24.91 points or 0.87 per cent.
This was after Wall Street gained despite weak US manufacturing data showing that the sector contracted last month.
In Singapore, some 72.6 million shares worth S$102.7 million were traded, with gainers outnumbering losers 90 to 39.
Top stocks by value traded were Global Logistic Properties, CapitaLand, DBS, Singtel and OCBC.

US House blocks carbon emission rules, Obama set to veto

US House blocks carbon emission rules, Obama set to veto 

[WASHINGTON] US House Republicans voted on Tuesday to block President Barack Obama's regulations on reducing greenhouse gas emissions - a move certain to spark his veto - as negotiators work on a global climate deal in Paris.
The two measures, rolling back the Environmental Protection Agency's new emission rules for existing and new power plants, passed the chamber largely along party lines, with all but four Democrats opposed to each.
The so-called disapproval resolutions, which already passed the Republican-controlled Senate, dealt a largely symbolic yet harsh rebuke to Mr Obama, who attended the start of a major UN climate summit in the French capital.
The White House has said Mr Obama would veto the resolutions and Congress does not appear to have sufficient votes to override the veto.
Many conservatives in Congress deny that climate change is a result of human industry and agriculture, and have opposed emissions controls designed to slow global warming.
The far-reaching regulations form a core of Mr Obama's efforts to reduce overall US greenhouse gas emissions.
Republicans seemed almost gleeful at the prospect of blocking Mr Obama's emissions rules just as international negotiators sought to tame global warming.
"We want the House to adopt this resolution while the climate change conference is going on in France so that the world will know that in America there is a disagreement about the extreme power grab that this president is initiating under his clean energy plan," Republican Ed Whitfield said shortly before the votes.
The EPA rules incensed Republicans, including Senate Majority Leader Mitch McConnell, who is from the coal-producing state of Kentucky, when the White House announced Mr Obama's Clean Power Plan in August.
They argue that the economic cost of the endeavor, particularly in coal mining states, would cripple industry and hike energy costs for millions of Americans.
Under the rule, the power sector's carbon dioxide emissions will have to be cut by at least 32 per cent below 2005 levels by 2030.
AFP

Australia economy gathers pace on export boost

Australia economy gathers pace on export boost 

[SYDNEY] Australia's economy gathered pace last quarter as a surge in exports and solid consumer spending offset a heavy drag from slumping business investment, adding to the case against another cut in interest rates.
The local dollar edged higher after the Australian Bureau of Statistics reported gross domestic product (GDP) expanded by 0.9 per cent in the third quarter, from the previous quarter when it rose just 0.3 per cent.
The value of all goods and services was up 2.5 per cent from a year earlier, topping forecasts of 2.4 per cent and ahead of that poster child of economic recovery - the United States. "This is not a bad outcome," said Reserve Bank of Australia (RBA) Governor Glenn Stevens, who happened to be giving a speech in Perth when the data was released.
The central bank again left rates at 2 per cent at its December policy meeting this week, citing signs activity was picking up, helped by past cuts and a low local currency.
Interbank futures are showing around a one-in-five chance of a cut when the RBA next meets in early February.
Overall, the Australian Bureau of Statistics reported the value of goods and services produced was worth A$1.6 trillion (S$1.76 trillion) in current dollars.
While the country has not suffered a full blown recession since 1991, it has been running below potential for some years.
The Liberal National government recently acknowledged the economy's speed limit might now be nearer 2.75 per cent than the 3.0-3.25 per cent previously considered normal.
The biggest drag is from mining investment which is in full retreat after a decade of madcap expansion. Business spending took 0.6 per centage points out of GDP growth, the fifth straight quarter of falls.
Neither was the government any help, as a pullback in its investment shaved 0.4 percentage points from growth.
Yet the hundreds of billions showered on mining is producing a massive increase in resource exports, much of it to China despite all the talk of slowdown there.
As a result, net exports added a huge 1.5 per centage points to growth in the quarter. Household spending added another 0.4 per centage points.
REUTERS

Indonesia sells US$3.5b of dollar bonds to preempt Fed

Indonesia sells US$3.5b of dollar bonds to preempt Fed

[HONG KONG] Indonesia priced its second sovereign dollar bond sale of 2015 on Tuesday to preempt a likely increase in US borrowing costs.
The government issued US$2.25 billion of 10-year notes and US$1.25 billion of 30-year bonds; the 10-year debt yields 4.8 per cent while the 30-year bonds pay a six per cent yield. That's higher than the secondary market where dollar securities due January 2025 yielded 4.59 per cent as of 12.29pm in Jakarta and those due January 2045 yielded 5.72 per cent, data compiled by Bloomberg show.
"There seems to be a decent new-issue spread premium," said Tim Condon, head of Asia research at ING Groep NV in Singapore, said before the final pricing was set. Indonesia could do another offer early next year if market conditions are favourable, he said.
Indonesian authorities said last month they were planning a second dollar sale in 2015 to start raising money for next year's budget, and futures contracts show a 74 per cent chance the Federal Reserve will hike interest rates this month.
The government will increase the proportion of foreign-currency debt to 30 per cent of total issuance in 2016 from 24 per cent this year to guard against potential increases in local-currency yields as the US raises rates, Robert Pakpahan, director- general at the budget financing office in Jakarta, said Nov. 12.
BUILDING RESERVES
Indonesia last sold dollar bonds in January, issuing US$4 billion of 10- and 30-year notes at coupons of 4.125 per cent and 5.125 per cent, respectively.
Proceeds from this week's sale will bolster the central bank's foreign-exchange reserves, which have fallen 10 per cent to US$100.7 billion this year through October.
"The country wants to pre-fund ahead of a potential Fed liftoff," said Avanti Save, a credit strategist at Barclays Plc in Singapore.
"Compared to global emerging-market peers, Indonesia has stronger credit metrics and credit ratings are expected to remain stable."
Standard & Poor's said on Tuesday it would retain its rating of BB+, the highest junk level, for Indonesia after the nation increased its global medium-term note programme by US$10 billion to US$40 billion.
The rating has a positive outlook, indicating the possibility of an upgrade over the next 12 months if the government achieves more reforms such as allowing fuel prices to adjust more freely, S&P said in a statement. Moody's Investors Service and Fitch Ratings assess Indonesia at the lowest investment grade.
"Given their borrowings are relatively light already, we think that even if they go to the limit of this programme it's not going to really affect their credit rating," said Kyran Curry, S&P's director of sovereign ratings in Singapore.
Indonesia's dollar bonds have lost 1.1 per cent this year, compared with a 0.4 per cent drop for Malaysia and 3.3 per cent gain for the Philippines, according to JPMorgan Chase & Co indexes.
BLOOMBERG

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