Asian stocks mostly higher on US fiscal hopes

HONG KONG - Asian markets mostly rose Tuesday, taking a lead from Wall Street as dealers grow confident US lawmakers will reach an agreement to avert the fiscal cliff.

Continued weakness of the yen helped send Japanese shares surging for a second straight session as Shinzo Abe prepares to take over as prime minister, vowing to press for a more aggressive policy of monetary easing.

Tokyo rose 0.96 percent, or 94.13 points, to 9,923.01, Seoul was up 0.51 percent, or 10.02 points, at 1,993.09, while Sydney added 0.48 percent, or 21.8 points, to 4,595.2.

Shanghai ended up 0.10 percent, or 2.12 points, at 2,162.46 while Hong Kong gave up earlier gains to end flat, dipping 18.88 points to 22,494.73.

Traders were reacting to news progress was finally being made in talks on a new deficit-cutting budget to replace the tax hikes and spending cuts due to come into effect at the start of January and which would likely tip the US economy into recession.

President Barack Obama hosted top Republican lawmaker John Boehner in the White House for 45 minutes Monday in the latest effort to avert going over the so-called fiscal cliff.

The meeting follows news that Boehner had changed his position on not allowing any more taxes, saying at the weekend that he would agree to some hikes for people earning more than US$1 million.

Although Obama has said he would only agree to rises on people earning more than US$250,000, analysts say the development shows the outline of a tentative deal is being formed.

Wall Street ended on a high, with the Dow closing up 0.76 percent, the S&P 500 gaining 1.19 percent and the Nasdaq adding 1.32 percent.

Japanese shares continued to be supported by the falling yen, which helps the country's exporters, as dealers bet on fresh central bank moves to boost the economy.

The election of Abe and his Liberal Democratic Party on Sunday was widely expected and investors now expect the Bank of Japan to unveil a further loosening of monetary policy at the end of its two-day meeting on Thursday.

Abe and central bank chief Masaaki Shirakawa held talks on Tuesday to discuss monetary policy.

In share trading, utility giant TEPCO, which runs the Fukushima plant at the centre of last year's nuclear crisis, surged 17.32 percent on expectations the new government will shelve any short-term plans to ditch atomic power.

In afternoon Tokyo trade, the dollar bought 84.96 yen, up from 83.87 yen in New York on Monday, while the euro also edged higher to 110.49 yen, from 110.40 yen.

The European single currency fetched US$1.3165, against US$1.3161 in New York.

Oil prices were up. New York's main contract, light sweet crude for delivery in January rose 58 cents to US$87.74 a barrel in the afternoon and Brent North Sea crude for February delivery advanced 73 cents to US$108.33.

Gold was at US$1,701.20 at 0800 GMT compared with US$1,690.10 late Monday.

In other markets:

-- Taipei rose 0.16 percent, or 12.46 points, to 7,643.74.

-- Manila rose 0.23 percent, or 12.74 points, to 5,636.59.

- AFP/ir

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US city approves site plan for Hindu temple

AMRITSAR: City Council of Greenacres in Southeast Florida (USA) has approved the site plan for a 3.1 acre Hindu temple, informed President of Universal Society Rajan Zed while talking to TOI on Tuesday.

He informed that the temple would include a 4,898 square foot sanctuary and there were plans for another 3,510 square foot multi-purpose building connected to the sanctuary by a covered walkway.

He said that the founders of the temple V.S. and Shanthi Sundaram plans to launch construction in spring and build the temple in 18 months.While applauding efforts of the temple project leaders he said that it was important to pass on Hindu spirituality, concepts and traditions to coming generations amidst so many distractions in the consumerist society and hoped that this new temple complex would focus in this direction.

City of Greenacres is located about five miles from Atlantic Ocean and incorporated in 1926, which calls itself as "A Great Place to Be", has earned a "Tree City USA" designation for 20 consecutive years and was recognized as one of the 100 Best Communities for young people. Eom

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GRAIL Mission Goes Out With a Bang

Jane J. Lee

On Friday, December 14, NASA sent their latest moon mission into a death spiral. Rocket burns nudged GRAIL probes Ebb and Flow into a new orbit designed to crash them into the side of a mountain near the moon's north pole today at around 2:28 p.m. Pacific standard time. NASA named the crash site after late astronaut Sally Ride, America's first woman in space.

Although the mountain is located on the nearside of the moon, there won't be any pictures because the area will be shadowed, according to a statement from NASA' Jet Propulsion Laboratory in California.

Originally sent to map the moon's gravity field, Ebb and Flow join a long list of man-made objects that have succumbed to a deadly lunar attraction. Decades of exploration have left a trail of debris intentionally crashed, accidentally hurtled, or deliberately left on the moon's surface. Some notable examples include:

Ranger 4 - Part of NASA's first attempt to snap close-up pictures of the moon, the Ranger program did not start off well. Rangers 1 through 6 all failed, although Ranger 4, launched April 23, 1962, did make it as far as the moon. Sadly, onboard computer failures kept number 4 from sending back any pictures before it crashed. (See a map of all artifacts on the moon.)

Fallen astronaut statue - This 3.5-inch-tall aluminum figure commemorates the 14 astronauts and cosmonauts who had died prior to the Apollo 15 mission. That crew left it behind in 1971, and NASA wasn't aware of what the astronauts had done until a post-flight press conference.

Lunar yard sale - Objects jettisoned by Apollo crews over the years include a television camera, earplugs, two "urine collection assemblies," and tools that include tongs and a hammer. Astronauts left them because they needed to shed weight in order to make it back to Earth on their remaining fuel supply, said archivist Colin Fries of the NASA History Program Office.

Luna 10 - A Soviet satellite that crashed after successfully orbiting the moon, Luna 10 was the first man-made object to orbit a celestial body other than Earth. Its Russian controllers had programmed it to broadcast the Communist anthem "Internationale" live to the Communist Party Congress on April 4, 1966. Worried that the live broadcast could fail, they decided to broadcast a recording of the satellite's test run the night before—a fact they revealed 30 years later.

Radio Astronomy Explorer B - The U.S. launched this enormous instrument, also known as Explorer 49, into a lunar orbit in 1973. At 600 feet (183 meters) across, it's the largest man-made object to enter orbit around the moon. Researchers sent it into its lunar orbit so it could take measurements of the planets, the sun, and the galaxy free from terrestrial radio interference. NASA lost contact with the satellite in 1977, and it's presumed to have crashed into the moon.

(Learn about lunar exploration.)

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Conn. Kids Laid to Rest: 'Our Hearts Are With You'

Visibly shaken attendees exiting the funeral today for 6-year-old Noah Pozner, one of 20 children killed in the Connecticut school massacre last week, said they were touched by a story that summed up the first-grader best.

His mother, Veronique, would often tell him how much she loved him and he'd respond: "Not as much as I [love] you," said a New York man who attended the funeral but was not a member of the family.

Noah's family had been scheduled to greet the public before the funeral service began at 1 p.m. at the Abraham L. Green & Son Funeral Home in Fairfield, Conn. The burial was to follow at the B'nai Israel Cemetery in Monroe, Conn. Those present said they were in awe at the composure of Noah's mother.

Rabbi Edgar Gluck, who attended the service, said the first person to speak was Noah's mother, who told mourners that her son's ambition when he grew up was to be either a director of a plant that makes tacos -- because that was his favorite food -- or to be a doctor.

Outside the funeral home, a small memorial lay with a sign reading: "Our hearts are with you, Noah." A red rose was also left behind along with two teddy bears with white flowers and a blue toy car with a note saying "Noah, rest in peace."

CLICK HERE for complete coverage of the tragedy at Sandy Hook.

Don Emmert/AFP/Getty Images

President Obama on Newtown Shooting: 'We Must Change' Watch Video

The funeral home was adorned with white balloons as members of the surrounding communities came also to pay their respects, which included a rabbi from Bridgeport. More than a dozen police officers were at the front of the funeral home, and an ambulance was on standby at a gas station at the corner.

U.S. Sen. Richard Blumenthal, U.S. Rep. and Sen.-Elect Chris Murphy and Gov. Dannel P. Malloy, all of Connecticut, were in attendance, the Connecticut Post reported.

Noah was an inquisitive boy who liked to figure out how things worked mechanically, The Associated Press reported. His twin sister, Arielle, was one of the students who survived when her teacher hid her class in the bathroom during the attack.

CLICK HERE for a tribute to the shooting victims.

The twins celebrated their sixth birthday last month. Noah's uncle Alexis Haller told the AP that he was "smart as a whip," gentle but with a rambunctious streak. He called his twin sister his best friend.

"They were always playing together, they loved to do things together," Haller said.

The funeral for Jack Pinto, 6, was also held today, at the Honan Funeral Home in Newtown. He was to be buried at Newtown Village Cemetery.

Jack's family said he loved football, skiing, wrestling and reading, and he also loved his school. Friends from his wrestling team attended his funeral today in their uniforms. One mourner said the message during the service was: "You're secure now. The worst is over."

Family members say they are not dwelling on his death, but instead on the gift of his life that they will cherish.

The family released a statement, saying, Jack was an "inspiration to all those who knew him."

"He had a wide smile that would simply light up the room and while we are all uncertain as to how we will ever cope without him, we choose to remember and celebrate his life," the statement said. "Not dwelling on the loss but instead on the gift that we were given and will forever cherish in our hearts forever."

Jack and Noah were two of 20 children killed Friday morning at Sandy Hook Elementary School in Newtown, Conn., when 20-year-old Adam Lanza sprayed two first-grade classrooms with bullets that also killed six adults.

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Obama in Newtown, Conn.: ‘You’re not alone in your grief’ over school massacre

NEWTOWN, Conn. — President Obama offered words of solace to a heartbroken and inconsolable community Sunday, meeting with loved ones of the dead from Sandy Hook Elementary School and lamenting at a nationally televised memorial service that the United States has failed in its duty “to keep our children, all of them,” safe from harm.

“Whatever measure of comfort we can provide, we will provide,” Obama vowed, addressing a grief-stricken audience of hundreds in the auditorium of the town’s high school. Many more listeners crowded near speakers in the school’s gym, while others huddled outside in a cold drizzle, holding candles and weeping at times.

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Flat to low digit growth for S'pore telco sector in 2013: analysts

SINGAPORE: The three main telco operators in Singapore will have a tough year ahead as analysts expect flat to low single digit revenue growth, despite the rollout of the high speed 4G network.

The telcos face slowing industry-wide growth and loss of sales in core voice and data markets as their hip, young, internet-based competitors offering free services are stealing market share.

Yet, digital and mobile is where Singapore's biggest telco is placing its biggest bet.

Singtel's group CEO, Chua Sock Koong, said: "Growing the top line would involve better monetisation of mobile data, which is a fast growing area (and) looking at new revenue sources -- that's where our investments in a lot of digital life investments will come true."

According to the International Data Corporation (IDC), vendors will ship more than 1.7 billion mobile phones globally this year.

But the long queues for new releases of smart phones like iPhone 5 and Samsung Galaxy Note 2 do not immediately translate into higher revenue for SingTel, StarHub and M1.

OCBC Research's senior research manager, Carey Wong, said: "Singapore's penetration rate is already close to 150 percent. It is a very mature market. Any raise in ARPU (Average Revenue Per User) would probably take some time to flow through.

"We are also seeing a little bit of subscriber growth since the penetration is so high. We think low single digit is probably correct for such mature market."

New revenue may come from the telcos moving into content and infrastructure and may also tap upstream customers like government agencies and corporations.

Standard Chartered Bank's director of Technology and Global Equity Research, Don See, said: "We need to see telcos demonstrate willingness to be more entrepreneurial -- to try out new things and to actually have a more bigger willingness to step away from their legacy business to capture some of these growth opportunities."

StarHub has been the outperformer in 2012 with its shares up by 33 percent.

SingTel and M1 have both climbed about 10 percent.

- CNA/lp

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Sankararaman murder case adjourned to January 4

PUDUCHERRY: A local court on Monday adjourned to January 4 the hearing in the Sankararaman murder case in which Kanchi Mutt Seer Jayendra Saraswathi and his junior Vijayendra are the prime accused.

Principal District and Sessions Judge C S Murugan before whom the trial is on, adjourned further proceedings to that date as Special Public Prosecutor N Devadoss could not turn up as he was in Australia in connection with some personal work. The SPP was to have presented arguments in reply to defence counsels of all 24 accused during earlier hearings.

A petition citing the reason for his absence was presented to the court through the police, source said Devadoss would present the arguments on January 4 when hearing resumes.

Only 10 of the 24 accused were present in the court today and the absentees included the two seers and the Manager of the Kanchi Mutt M Sundaresa Iyer.

Sankararaman,former employee of Varadarajaperumal temple in Kancheepuram was allegedly murdered in the temple precincts on Sept 3, 2004. The trial was shifted from Kancheepuram to Puducherry on an order of the Supreme court, issued on a petition by Jayendra Saraswati in October 2005.

The seers have been charged under Sections 120-B(criminal conspiracy) and 302 (murder) of IPC.A total of 189 prosecution witnesses, including Sankararaman's widow,his son and daughter were examined during the trial between 2009 and 2011. Eighty-one of the witnesses had turned hostile during the trial.

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Space Pictures This Week: Frosty Mars, Mini Nile, More

Photograph by Mike Theiss, National Geographic

The aurora borealis, also known as the northern lights, illuminates the Arctic sky in a recent picture by National Geographic photographer Mike Theiss.

A storm chaser by trade, Theiss is in the Arctic Circle on an expedition to photograph auroras, which result from collisions between charged particles released from the sun's atmosphere and gaseous particles in Earth's atmosphere.

After one particularly amazing show, he wrote on YouTube, "The lights were dancing, rolling, and twisting, and at times looked like they were close enough to touch!" (Watch his time-lapse video of the northern lights.)

Published December 14, 2012

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'We Can't Tolerate This Anymore,' Obama Says

President Barack Obama said at an interfaith prayer service in this mourning community this evening that the country is "left with some hard questions" if it is to curb a rising trend in gun violence, such as the shooting spree Friday at Newtown's Sandy Hook Elementary School.

After consoling victims' families in classrooms at Newtown High School, the president said he would do everything in his power to "engage" a dialogue with Americans, including law enforcement and mental health professionals, because "we can't tolerate this anymore. These tragedies must end. And to end them we must change."

Mandel Ngan/AFP/Getty Images

President Obama: 'Newtown You Are Not Alone' Watch Video

Sandy Hook Elementary Shooting: Remembering the Victims Watch Video

The president was not specific about what he thought would be necessary and did not even use the word "gun" in his remarks, but his speech was widely perceived as prelude to a call for more regulations and restrictions on the availability of firearms.

The grieving small town hosted the memorial service this evening as the the nation pieces together the circumstances that led to a gunman taking 26 lives Friday at the community's Sandy Hook Elementary School, most first graders.

"Someone once described the joy and anxiety of parenthood as the equivalent of having your heart outside your body all of the time, walking around," he said, speaking of the joys and fears of raising children.

"So it comes as a shock at a certain point when you realize no matter how much you love these kids you can't do it by yourself," he continued. "That this job of protecting kids and teaching them well is something we can only do together, with the help of friends and neighbors, with the help of a community, and the help of a nation."

CLICK HERE for Full Coverage of the Tragedy at Sandy Hook

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China commentary urges policy shift as Japan votes

BEIJING: China's state media on Sunday urged Japan to seek a post-election foreign policy that will improve relations with its neighbours, as Japanese voted in a poll likely to bring in a more hawkish administration.

It came just days after Beijing's latest effort to bolster its claim to disputed islands at the centre of a fierce row with Tokyo, by submitting to the United Nations information on the outer limits of its continental shelf.

The state Xinhua news agency commentary called on whichever party comes out on top to "devise its foreign policy with a long-term and pragmatic" view so Japan can "repair its strained ties with neighbours".

Ties between the Asian giants have soured in recent months due to the row over the East China Sea islands, which are controlled by Tokyo but claimed by Beijing.

Commentators believe the dispute has given a boost to right-wingers in Japan, where the conservative Liberal Democratic Party is expected to defeat the ruling Democratic Party of Japan in Sunday's elections for parliament's lower house.

Shinzo Abe, LDP president and the likely next premier, has said he would take a harder line on foreign policy and revitalise ties with the United States.

The Xinhua commentary cited a "troubling sign" that some Japanese political parties are advocating a hardline over the country's territorial disputes.

"These policies, if carried out, will surely further sour Japan's relations with its neighbors and even increase political and military risks in the region," it said.

China's foreign ministry said on Friday that Beijing told the UN in its submission that geographical characteristics "show that the continental shelf of China in the East China Sea extends to the Okinawa Trough, an important geographical unit with remarkable partition."

Such a definition of China's continental shelf would include the disputed islands. Japan's Okinawan islands lie to the east of the trough.

The escalation in the dispute over the uninhabited islands, known as Diaoyu in China and Senkaku in Japan, was triggered when the Japanese government in September purchased some of the islands from the private Japanese owner.

The purchase triggered sometimes-violent anti-Japanese riots in China.

Ships from Japan, China and Taiwan -- which also claims the island -- have engaged in stand-offs and last week Japan scrambled fighter jets after a Chinese state-owned plane flew over the area.

- AFP/xq

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