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Perhimpunan Agung UMNO 2010

Ini tajuk ucapan YB Khairy Jamaluddin selaku KETUA PEMUDA UMNO MALAYSIA.

P/s: Sentiasa kagum dengan ucapan Ketua Pemuda UMNO Malaysia.

Global stocks plunged, extending a rout that wiped $5.3 trillion off market value this month, on concern Europe will struggle to contain its debt crisis and the U.S. economic recovery is faltering. Commodities slumped and bond risk surged.

The MSCI Asia Pacific Index declined 1.9 percent to 111.33 as of 11:04 a.m. in Tokyo, the lowest level since Aug. 21. Crude oil for July delivery dropped as much as 2.1 percent, to $69.31 a barrel. The cost of insuring Asia-Pacific bonds against non- payment soared to the highest in at least six months. The euro rallied from a four-year low, climbing 0.3 percent to $1.2517, on speculation governments will act to halt the currency’s slide.

Global equities are set for the biggest monthly decline in market value since October 2008 as confidence was rocked by Germany’s crackdown on speculation and plans to tighten U.S. finance industry regulation. Jobless claims in the world’s largest economy unexpectedly increased to 471,000 last week and the Conference Board’s index of leading economic indicators posted a surprise drop of 0.1 percent. View full article »

Investor Marc Faber said China’s economy will slow and possibly “crash” within a year as declines in stock and commodity prices signal the nation’s property bubble is set to burst.

The Shanghai Composite Index has failed to regain its 2009 high while industrial commodities and shares of Australian resource exporters are acting “heavy,” Faber said. The opening of the World Expo in Shanghai last week is “not a particularly good omen,” he said, citing a property bust and depression that followed the 1873 World Exhibition in Vienna.

“The market is telling you that something is not quite right,” Faber, the publisher of the Gloom, Boom & Doom report, said in a Bloomberg Television interview in Hong Kong today. “The Chinese economy is going to slow down regardless. It is more likely that we will even have a crash sometime in the next nine to 12 months.”

An index tracking Chinese stocks traded in Hong Kong dropped 1.8 percent today, the most in two weeks, after the central bank raised reserve requirements for the third time this year. The Shanghai Composite has slumped 12 percent this year, Asia’s worst performer, as policy makers seek to rein in a lending boom that’s spurred record gains in property prices. China’s markets are shut for a holiday today.

Copper touched a seven-week low and BHP Billiton Ltd., the world’s biggest mining company, fell the most since February on concern spending in the world’s third-largest economy will slow and after Australia boosted taxes on commodities producers. Rio Tinto Ltd., the third-largest, slid as much as 6 percent.

Chanos, Rogoff

Faber joins hedge fund manager Jim Chanos and Harvard University’s Kenneth Rogoff in warning of a crash in China.

China is “on a treadmill to hell” because it’s hooked on property development for driving growth, Chanos said in an interview last month. As much as 60 percent of the country’s gross domestic product relies on construction, he said. Rogoff said in February a debt-fueled bubble in China may trigger a regional recession within a decade.

The government has banned loans for third homes and raised mortgage rates and down-payment requirements for second-home purchases. Prices rose 11.7 percent across 70 cities in March from a year earlier, the most since data began in 2005.

The government has stopped short of raising interest rates to contain property prices. Within an hour of the central bank announcement on reserve ratios, Finance Minister Xie Xurensaid that officials remained committed to expansionary policies to cement the nation’s recovery.

Stocks ‘Fully Priced’

The nation’s economy grew 11.9 percent in the first quarter, the fastest pace in almost three years. The government projects gross domestic product growth for the year of about 8 percent.

The clampdown on property speculation may prompt investors to turn to the nation’s stock market, Faber said. Still, shares are “fully priced” and Chinese investors may instead become “big buyers” of gold, he said.

BlackRock Inc. is among money managers reducing their holdings on Chinese stocks on expectations that economic growth has peaked. The BlackRock Emerging Markets Fund has widened its “underweight” position for China versus the MSCI Emerging Markets Index to about 7.5 percent from 4.6 percent at the end of March, the fund’s London-based co-manager Dan Tubbs said.

Industrial & Commercial Bank of China Ltd., China Construction Bank Corp. and Bank of China Ltd, the nation’s three largest banks, are trading near their lowest valuations on record as rising profits are eclipsed by concern bad loans will increase.

Local Governments

Citigroup Inc. warned in March that in a “worst case scenario,” the non-performing loans of local-government investment vehicles, used to channel money to stimulus projects, could swell to 2.4 trillion yuan by 2011.

Housing prices nationwide may fall as much as 20 percent in the second half of the year on government measures to curb speculation, BNP Paribas said April 23. Under a stress test conducted by the Shanghai branch of the China Banking Regulatory Commission in February, local banks’ ratio of delinquent mortgages would triple should home prices in the country’s commercial center decline 10 percent.

Shanghai is projecting as many as 70 million visitors to the $44 billion World Expo, more than 10 times the number who traveled to the 2008 Beijing Olympics. More than 433,000 people visited the 5.3 square-kilometer (3.3 square-mile) park on its first weekend.

Source: Bloomberg

HULU SELANGOR: Bekas bendahari Parti Keadilan Rakyat (PKR) Hulu Selangor, Datuk Dr Halili Rahmat menegaskan, antara sebab utama mengapa beliau meninggalkan parti itu kerana mendapati PKR menimbulkan ‘rasa cemas’ di kalangan orang Melayu.

Beliau berkata, PKR sudah tersasar daripada perjuangan asalnya dan kini lebih mementingkan kuasa.

“Secara amnya sebab saya meninggalkan PKR kerana saya sudah tidak kenal lagi parti itu.

“Ramai antara mereka hanya sibuk mencari kuasa, gila kuasa sampai terlupa tujuan asalnya (penubuhan),” kata beliau ketika berucap pada ceramah umum Barisan Nasional (BN) di Taman Sri Liam, Ulu Yam Baharu, di sini semalam.

Hadir sama ialah Timbalan Perdana Menteri, Tan Sri Muhyiddin Yassin; Menteri Pertanian dan Industri Asas Tani, Datuk Seri Noh Omar yang juga pengarah pilihan raya kecil bagi kerusi Parlimen Hulu Selangor; Menteri Wilayah dan Kesejahteraan Bandar, Datuk Raja Nong Chik Zainal Abidin dan calon BN P.Kalamanathan.

Kelmarin, Dr Halili, 58, seorang pakar bedah saraf dan pernah menjadi doktor peribadi kepada Datuk Seri Anwar Ibrahim, mengejutkan banyak pihak apabila mengisytiharkan keluar daripada PKR dan menyertai Umno kerana sudah hilang kepercayaan kepada parti itu.

Beliau sebelum ini disebut-sebut sebagai tokoh yang bakal menjadi calon PKR pada pilihan raya kecil kerusi Parlimen Hulu Selangor sebelum parti itu akhirnya memilih seorang tokoh kontroversi Datuk Zaid Ibrahim.

Pada majlis itu, Muhyiddin yang juga Timbalan Presiden Umno turut menerima borang permohonan Dr Halili untuk menganggotai Umno.

Tanpa mengulas lanjut mengenai dakwaan bahawa PKR mencemaskan orang Melayu, beliau bagaimanapun mengatakan kenyataannya itu bukanlah bermakna beliau seorang rasis.

“PKR mencemaskan orang Melayu, saya bangga menjadi orang Melayu dan saya bangga menjadi anak Malaysia, saya bukan amalkan perkauman, saya bukan rasis. Macamana saya nak anti perkauman sebab 80 peratus pesakit yang saya rawat adalah orang Cina.

“Walaubagaimanapun saya dapati PKR mencemaskan orang Melayu, Umno juga parti Melayu tapi kita tahu parti itu tidak menafikan hak-hak bangsa lain,” katanya sambil disambut oleh tepukan gemuruh penonton yang hadir.

Dr Halili juga berkata beliau tidak akan mendedahkan keburukan parti yang turut sama diasaskannya dahulu kerana mahu maaju kehadapan.

“Ia sama seperti orang bercinta, dan kemudiannya berkahwin. Lama-lama bila kita dah tak suka, kita bercerai dan lepas bercerai tak eloklah kita nak memburuk-burukkan janda kita.

“Kita tak boleh canang (keburukan), barang yang lepas jangan dikenang, saya tak boleh burukan mereka kerana nanti orang kata saya fitnah… apa yang berlaku saya tak akan bangkitkan lagi, saya akan bergerak ke depan dan teruskan perjuangan saya bersama Umno” katanya.

Source: The Star Website

Gekko: PKR ajak Ahli Parlimen BN lopat masuk PKR tali la ni ramai pulak yang dah masuk BN. Salah ajar ni… hahaha.

BN Youth Lab

This is a great way for the youth to voice out their view to the government. JOM join?