Tuesday, January 13, 2009

Israel tightens grip on Gaza City; Hamas stays defiant

GAZA CITY, Gaza (CNN) -- The rumble of artillery fire and the roar of ensuing explosions continued to roll through Gaza early Tuesday despite pronouncements by an Israeli official earlier that the military operation may be in its final days.

Israeli tanks rolled into Gaza City from the al-Karramah neighborhood in the northwest and the Tel al-Hawa neighborhood in the northeast, approaching the headquarters of Hamas' preventative security building.

But after the respite, the explosive sounds that punctuated the nighttime hours underscored a resumption in offensive operations.

"We are tightening the encirclement of the city," Brig. Eyal Eisenberg, commander of the Israeli offensive, told a small group of reporters brought in to Gaza to observe the deployment.

"We are not static. We are careful to be constantly on the move," Eisenberg said.

CPO fall again..

KUALA LUMPUR: Crude palm oil futures for third month delivery fell RM128 to RM1,860 at midday on Tuesday, tracking the losses on soyabeans and vegetable oils traded in China on concerns about weaker demand.

The 6.4% decline in CPO price pushed plantation stocks lower, including KL Kepong and IOI Corp.

At 12.30pm, the KL Composite Index had fallen 8.04 points to 915.53. There were 279 million units traded at RM310.8mil. There were 99 gainers, 272 losers and 158 stocks unchanged.

All major Asian markets except Singapore, posted declines.

Japan’s Nikkei 225 was the worst performer, down 404 points or 4.58% to 8,432.21, Shanghai’s A Share Index lost 1.19% to 1,971.25 while Hong Kong’s Hang Seng Index eased 0.07% to 13,980.91. Singapore’s Straits Times Index bucked the trend, adding 1.42% to 1,801.45.

Crude oil also fell, shedding 37 cents to US$37.22.

Earlier, Citigroup Research cut Malaysia’s economic growth to 0.5% for this year. On equities, the foreign research house said it expected the bear market likely to bottom earliest in the first quarter.

Among plantations, Chin Tek fell 40 sen to RM5.60 while KL Kepong lost 20 sen to RM9.80 and IOI Corp shed 12 sen to RM3.88. PPB fell 20 sen to RM9.80, Asiatic 12 sen to 12 sen to RM4.04.

Tanjong lost 30 sen to RM13.90, Petronas Dagangan 25 sen to RM7.45 and Parkson 14 sen to RM3.36.

Penny stocks were among the major gainers but in thin trade. Abric jumped 29.5 sen to 40.5 sen, De Gem 11 sen to 96 sen, PCCS 8.5 sen to 38 sen and Amtel 6.5 sen to 48.5 sen.

Tong Herr added eight sen to RM2.20, HL Bank five sen ti RM5.45 and JTI four sen higher to RM4.52.

Yap Sin Tian hitted !

KAJANG: Police have identified the man who punched New Era College senate chairman Dr Yap Sin Tian during the convocation on Sunday.

Kajang OCPD Asst Comm Shakaruddin Che Mood said they were also studying the closed-circuit TV clip to determine the gravity of the assault.

Dr Yap was punched while giving a speech. The attacker was wearing a shirt used by members of a fund-raising event at the college and is said to be a former student.

ACP Shakaruddin declined to say if the attack was linked to a squabble between Dr Yap and the college’s former principal Dr Kua Kia Soong.

Dr Yap, who is Dong Zong (United Chinese School Commit-tees Association of Malaysia) president, is said to have supported the decision not to extend Dr Kua’s contract when it expired last month.

Dr Kua has condemned the attack.

“Of course I am not involved. I am no longer working in the college,” he said.

He added that the man who had punched Dr Yap had done damage to the cause he and others were fighting for, which was for a more democratic college.

Deputy Higher Education Minister Dr Hou Kok Chung expressed shock and regret over the incident.

“I hope all parties involved will be able to give their cooperation to the police so that the case can be solved as soon as possible,” he said at Parliament yesterday.

He said the assault had marred the image of private institutions of higher learning.