Indonesia promises not to snoop on foreign leaders: media

JAKARTA (Reuters) - Indonesia pledged not to eavesdrop on foreign leaders when it hosts a major summit later this year despite irritation over reports that its own leader was spied on when he was overseas.

Classified documents leaked last month by whistleblower Edward Snowden showed British intelligence services had used "groundbreaking intelligence capabilities" to monitor the communications of visiting world leaders at the G-20 summit in 2009, according to The Guardian daily. Indonesian President Susilo Bambang Yudhoyono attended that gathering.

The Sydney Morning Herald reported last week that the Australian government was among those which made use of the British intelligence on Yudhoyono and other Asian leaders.

"We must give a guarantee that such practices will not happen here in Indonesia, especially during the (upcoming) APEC summit in Bali," Marciano Norman, head of the state intelligence agency, was quoted as saying on Tuesday by the Jakarta Post daily.

The Asia-Pacific Economic Cooperation (APEC) has 21 members including the United States, China and Russia. Britain is not a member.

"Indonesia has never had a practice of spying on visiting foreign delegates. If there's any truth to the news reports, then what the UK did is for sure completely unethical," Teuku Faizasyah, presidential spokesperson for foreign affairs, told Reuters.

"You're hosting foreign dignitaries and there should be some respect for their privacy."

(Reporting by Kanupriya Kapoor, editing by Jonathan Thatcher and Ron Popeski)

Source: http://news.yahoo.com/indonesia-promises-not-snoop-foreign-leaders-media-094820500.html

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Smart Cargo for iPad review

I have completely replaced a laptop in my life with my iPad. I discovered this about a year into having my first iPad, when I realized the only time I had moved my MacBook Pro from the desk was when I presented, using both it and my iPad at a few meetings. But, when I’m [...]

Source: http://the-gadgeteer.com/2013/07/29/smart-cargo-for-ipad-review/

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UBS to repay Swiss bailout loan, cautious on third-quarter

By Katharina Bart

ZURICH (Reuters) - UBS will repay a loan and buy back equity in a fund set up as part of its 2008 bailout, a move the Swiss bank said on Tuesday would bolster its capital later this year.

The move draws a line under the Swiss government's rescue of UBS nearly five years after the bank threatened to collapse under the weight of more than $50 billion in losses on mortgage securities.

"The results show that our strategy is right and we're ahead on execution," UBS's Chief Executive Sergio Ermotti said in a statement.

UBS's shares hit a two-year high last week after the bank disclosed a quarterly profit that beat analyst views, even after paying $885 million to settle a lawsuit with the U.S. housing regulator over the mis-selling of mortgage-backed bonds.

In its outlook on Tuesday, UBS said third-quarter revenue and net new money -- a closely-watched bellwether of future business -- may be hit as clients fret about the euro zone, U.S. debt trouble, as well as the mixed global economic outlook.

"Nevertheless, we remain confident that our wealth management businesses will continue to attract new money," UBS said in a statement. The flagship private bank took in 10.1 billion francs of fresh money this quarter.

Profit at UBS's investment bank rose amid buoyant markets for equities -- a traditional strength.

DIVIDEND IMPACT

UBS will buy the bailout fund back from Switzerland's central bank later this year. It can purchase it for $1 billion plus 50 percent of its gains. The move will add up to 90 basis points to UBS's capital ratios, by taking on the cash and securities remaining after the loan is repaid.

Analysts including Morgan Stanley and Espirito Santo had said previously that UBS could use a such a buyback to fuel dividends. On Tuesday, UBS didn't comment on the effect the repurchase will have on its shareholder payout policy.

The government took a nine percent stake in UBS as part of the bailout, which saw UBS receive a 6-billion-Swiss-franc shot in the arm. Switzerland sold the stake less than a year later at a 1.2 billion franc profit.

However, roughly $38.7 billion in toxic former UBS assets were tricker to handle. Offloaded to a fund managed by the Swiss National Bank as part of the bailout, the central bank has been selling them down since.

The outstanding loan for the fund, which added 316 million Swiss francs to the central bank's first-half results, was lowered dramatically in the period to 1.2 billion, the SNB said in a statement.

(This story was refiled to fix typo in headline)

(Reporting By Katharina Bart: Editing by Carmel Crimmins)

Source: http://news.yahoo.com/ubs-repays-swiss-bailout-loan-buys-back-assets-045917810.html

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The Staycation in Park Royal Penang - Places and Foods, Travel ...

28 July 2013 145 views No Comment

The Staycation in Park Royal Penang

When you mentioned Park Royal Penang in Batu Ferringhi, many will tell you stories on the history of the hotel. While many locals still live in the past, the hotel has move on. In fact, the hotel has gone through a revamp with a huge renovation on their hotel rooms. The legacy remains with new directions.

Penang has changed for good in the past few years. More places for good food and more hotels are opening on the island. To drive from Kuala Lumpur to Penang, it should take less than five hours drive (without speeding) with leisure speed and it will take an hour for a plane ride. We chose to drive because we wanted to travel freely on the island.

It didn?t take us long to reach Park Royal Hotel. Even though the exterior looks the same but the interior is a world of its own. I always feel that hotel services in Malaysia fares poorer compare to our neighbours but in Park Royal Penang they proved me wrong. Doormen and front desk staffs were helpful and friendly.

We got ourselves a beautiful seaview room. I love how the newly renovated hotel rooms. It looks like new!

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The swimming pools in Park Royal Penang must be mentioned. They have two swimming pools, one for the adults and one for the children.

If you are bringing your kids for a staycation in Park Royal, they will love the children?s pool. It is like mini water theme park but it is always advisable parents or guardians should be around when the kids are playing in the pool

If you are a beach person, just walk a few steps and you will be greeted by the beautiful Batu Ferrighi white sandy beach. Facing the Strait of Malacca, there are varieties of sports activities available.

Having a brisk walk or even a jog at this beautiful beach during morning or evening is relaxing. Usually the sea water here is not that rough so swimming in the sea is consider safe. Jelly fish attacks are rare in Penang.

If you don?t want to soak into the sea water, you can always sun bathing at the benches available exclusive for hotel guests.

Breakfast in Parkroyal Penang was not disappointing as well. I thought it will be the same old typical ?Malaysia hotel breakfast? and I was wrong. They have local Penang food like char kuey teow and nasi lemak for breakfast.

I stayed two nights in Parkroyal Penang and it was blissful. Due to Rachel?s pregnancy, we stayed in the hotel most of the time and we didn?t even make time for the Batu Ferringhi night market. Please don?t be fooled by the exterior and the history of the hotel as the rooms were renovated and rejuvenated. If you are planning to visit Penang for a staycation, ParkRoyal Penang Batu Ferringhi is an option for you.

Park Royal Penang ?Address:

Batu Ferringhi Beach, 11100 Batu Ferringhi, Penang, Malaysia

Phone: +60 4-881 1133

Website: http://www.parkroyalhotels.com/en/hotels/malaysia/penang/parkroyal/location/index.html

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Popularity: 1% [?]

Source: http://www.placesandfoods.com/2013/07/the-staycation-in-park-royal-penang.html

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Novel mechanism that helps stomach bug cause illness identified

[unable to retrieve full-text content]A seafood contaminant that thrives in brackish water during the summer works like a spy to infiltrate cells and quickly open communication channels to sicken the host, researchers report.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_health/~3/Toa6ud_fdQo/130728133904.htm

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3 dead when bus carrying teens from church camp crashes on busy thoroughfare in Indianapolis

INDIANAPOLIS - The Indianapolis Fire Department says three people were killed when a bus carrying teens from a church camp crashed on a busy thoroughfare near Interstate 465.

The bus was carrying 40 passengers who are members of Colonial Hill Baptist Church and were returning from camp when the crash happened Saturday afternoon.

Indianapolis Fire Department spokesman Lt. Rita Burris confirms the deaths and says survivors were being taken to area hospitals. Those injured include children and adults.

Some of the victims were taken from the scene by helicopter.

An Indiana Department of Transportation camera showed the bus overturned on its side.

Roads near the scene were closed, and hazmat crews were in the area cleaning up diesel fuel that spilled.

Source: http://news.yahoo.com/3-dead-bus-carrying-teens-church-camp-crashes-214252223.html

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S&P 500 gains for an eighth day, buoyed by Citigroup

By Caroline Valetkevitch

NEW YORK (Reuters) - Citigroup's solid earnings helped the S&P 500 end higher on Monday for an eighth straight day, the longest such streak since mid-January, though weak retail sales curbed the advance.

The Dow Jones industrial average and the S&P 500 finished at record closing highs for the third consecutive session. The Nasdaq scored its highest close since September 2000.

Volume was the lowest of any full trading day this year, with just 4.89 billion shares trading on exchanges, based on the latest available data. This year, daily volume has averaged 6.4 billion shares on the New York Stock Exchange, the Nasdaq and the NYSE MKT.

Shares of Citigroup (NYS:C) climbed 2 percent to $51.81 after the third-largest U.S. bank by assets reported a 26 percent increase in adjusted quarterly profit. The S&P 500 financial industry sector index (CME:^SPSY) gained 0.4 percent.

Leap Wireless International Inc (LEAP) shares more than doubled after AT&T Inc (NYS:T) said late Friday it would buy the company for $1.19 billion and at least two brokerages raised their ratings on Leap's stock. Leap, which was among the Nasdaq's most-active stocks, ended at $16.95 - up 112.41 percent.

The day's economic data was mixed, however, with growth in New York state manufacturing for July accelerating, while June retail sales fell short of expectations. May business inventories barely increased.

Investors are watching for changes in earnings or economic news that could derail the market's rally. Stocks have climbed this year, except for a late-May selloff triggered by Federal Reserve Chairman Ben Bernanke's comments, which raised the prospect of trimming the Fed's $85 billion in monthly stimulus. The S&P 500 has gained 18 percent since December 31.

Nicholas Colas, chief market strategist at the ConvergEx Group in New York, said the fact that Citigroup and other financial companies have done well this earnings season is a positive sign.

"We believe the economy is getting better, so they should be doing well. That's enough to offset retail sales data," Colas said.

The Dow Jones industrial average (^DJI) rose 19.96 points, or 0.13 percent, to 15,484.26, a record closing high. The Standard & Poor's 500 Index (^GSPC) gained 2.31 points, or 0.14 percent, to finish at 1,682.50, also a record. The Nasdaq Composite Index (^IXIC) advanced 7.41 points, or 0.21 percent, to end at 3,607.49 - its highest close since September 2000.

Much of the focus this week will be on earnings. Analysts expect S&P 500 companies' second-quarter earnings to have grown 2.8 percent from a year earlier, with revenue up 1.5 percent from a year ago, Thomson Reuters data showed.

While earnings growth has slowed in recent quarters, it is expected to pick up the last half of the year. Bank of America-Merrill Lynch raised its year-end target for the S&P 500 to 1,750 from 1,600, citing expected earnings growth.

Most companies also are exceeding analysts' earnings expectations, as they have done in recent quarters. Of the companies that have reported second-quarter results so far, 66.7 percent are beating earnings estimates. Revenue results are faring worse.

S&P 500 industrial shares rose after airlines expressed confidence over the weekend in the safety of Boeing's (BA) 787 Dreamliner following a fire on one of the jets last week. Boeing gained 3.7 percent to $105.66 and ranked as the Dow's top performer.

Utilities outperformed other sectors in the S&P 500, with the sector index (.SPLRCU) up 1.6 percent. Utility companies, including FirstEnergy Corp (FE) and Public Service Enterprise Group Inc (PEG), were among the sector's best performers after power grid operators in the U.S. Northeast said they had enough electricity to keep air conditioners running this week through an anticipated heat wave.

First Solar Inc (FSLR) was the S&P 500's best percentage gainer, rising 5.5 percent to $50.27.

Shares of Tiffany & Co (TIF.N) jumped 3.6 percent to $79.78 in active trading after Stifel Nicolaus upgraded the high-end jeweler's stock to a "buy" from a "hold" and set a price target of $92.

On the flip side, shares of Ingredion (INGR.N) dropped 9.9 percent to $62.57, a day after the company warned on earnings.

Advancers outnumbered decliners on the New York Stock Exchange by a ratio of about 19 to 11, while on the Nasdaq, 16 stocks rose for nearly every nine that fell.

(Editing by Kenneth Barry, Nick Zieminski and Jan Paschal)

Source: http://news.yahoo.com/china-data-helps-futures-edge-112122651.html

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