Saturday, May 25, 2013

2-child limit for Muslims in parts of Myanmar

YANGON, Myanmar (AP) ? Authorities in Myanmar's western Rakhine state have imposed a two-child limit for Muslim Rohingya families, a policy that does not apply to Buddhists in the area and comes amid accusations of ethnic cleansing in the aftermath of sectarian violence.

Local officials said Saturday that the new measure would be applied to two Rakhine townships that border Bangladesh and have the highest Muslim populations in the state. The townships, Buthidaung and Maundaw, are about 95 percent Muslim.

The unusual order makes Myanmar perhaps the only country in the world to impose such a restriction on a religious group, and is likely to fuel further criticism that Muslims are being discriminated against in the Buddhist-majority country.

China has a one-child policy, but it is not based on religion and exceptions apply to minority ethnic groups. India briefly practiced forced sterilization of men in a bid to control the population in the mid-1970s when civil liberties were suspended during a period of emergency rule, but a nationwide outcry quickly shut down the program.

Rakhine state spokesman Win Myaing said the new program was meant to stem rapid population growth in the Muslim community, which a government-appointed commission identified as one of the causes of the sectarian violence.

Although Muslims are the majority in the two townships in which the new policy applies, they account for only about 4 percent of Myanmar's roughly 60 million people.

The measure was enacted a week ago after the commission recommended family planning programs to stem population growth among Muslims, Win Myaing said. The commission also recommended doubling the number of security forces in the volatile region.

"The population growth of Rohingya Muslims is 10 times higher than that of the Rakhine (Buddhists)," Win Myaing said. "Overpopulation is one of the causes of tension."

Sectarian violence in Myanmar first flared nearly a year ago in Rakhine state between the region's Rakhine Buddhists and Muslim Rohingya. Mobs of Buddhists armed with machetes razed thousands of Muslim homes, leaving hundreds of people dead and forcing 125,000 to flee, mostly Muslims.

Witnesses and human rights groups say riot police stood by as crowds attacked Muslims and burned their villages.

New York-based Human Rights Watch has accused authorities in Rakhine of fomenting an organized campaign of "ethnic cleansing" against the Rohingya.

Since the violence, religious unrest has morphed into a campaign against the country's Muslim communities in other regions.

Containing the strife has posed a serious challenge to President Thein Sein's reformist government as it attempts to institute political and economic liberalization after nearly half a century of harsh military rule. It has also tarnished the image of opposition leader Aung San Suu Kyi, who has been criticized for failing to speak out strongly in defense of the country's embattled Muslim community.

Win Myaing said authorities had not yet determined how the measures ? which include a ban on polygamy ? will be enforced. The policy will not apply yet to other parts of Rakhine state, which have smaller Muslim populations.

In its report issued last month, the government-appointed commission wrote: "One factor that has fueled tensions between the Rakhine public and (Rohingya) populations relates to the sense of insecurity among many Rakhines stemming from the rapid population growth of the (Rohingya), which they view as a serious threat."

Predominantly Buddhist Myanmar does not include the Rohingya as one of its 135 recognized ethnicities. It considers them to be illegal immigrants from Bangladesh and denies them citizenship. Bangladesh says the Rohingya have been living in Myanmar for centuries and should be recognized there as citizens.

China has been carrying out a planned birth policy since the late 1970s, generally limiting one child to urban couples and no more than two to rural families, to stem rapid population growth that Beijing believes is not sustainable economically and environmentally.

___

Associated Press writer Didi Tang in Beijing contributed to this report.

Source: http://news.yahoo.com/2-child-limit-muslims-parts-myanmar-112223020.html

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Monday, May 6, 2013

BofA leads banks up; S&P 500 index ekes out gain

In this Thursday, May 2, 2013, photo, Trader John Santiago works on the floor of the New York Stock Exchange. World stock markets rose Monday May 6, 2013 after an unexpectedly strong U.S. jobs report pushed Wall Street to new highs. Malaysian shares jumped after the country's ruling political alliance won national elections. (AP Photo/Richard Drew)

In this Thursday, May 2, 2013, photo, Trader John Santiago works on the floor of the New York Stock Exchange. World stock markets rose Monday May 6, 2013 after an unexpectedly strong U.S. jobs report pushed Wall Street to new highs. Malaysian shares jumped after the country's ruling political alliance won national elections. (AP Photo/Richard Drew)

(AP) ? Bank of America led a rally in big-bank stocks in mostly quiet trading on Monday. Stock indexes ended little changed following a record-setting run last week.

News that Bank of America and MBIA, a bond-insurance company, had reached a settlement over a long-running dispute propelled both companies' stocks up. BofA will pay $1.7 billion to MBIA and extend the troubled company a credit line.

MBIA soared 45 percent, or $4.46, to $14.29. Bank of America gained 5 percent, or 64 cents, to $12.88, making it the leading company in the Dow Jones industrial average.

The Dow slipped 5.07 points to close at 14,968.89. The Standard & Poor's 500 index crept up 3.08 points to 1,617.50, a gain of 0.2 percent.

Six of the 10 industry groups in the S&P 500 rose, with financial companies in the lead.

No major economic reports came out Monday, but a handful of companies reported their quarterly results. Tyson Foods, the nation's largest meat-processing company, fell 3 percent, the biggest drop in the Standard & Poor's 500 index, after saying its net income sank as costs for chicken feed rose. Tyson's stock lost 83 cents to $24.10.

Companies have reported solid quarterly profits so far this earnings season. Seven of every 10 big companies in the S&P 500 have beat the earnings estimates of financial analysts, according to S&P Capital IQ. But revenue has looked weak: six of 10 have missed revenue forecasts.

"Yet again, corporations continue to do more with less," said Dan Veru, the chief investment officer of Palisade Capital Management.

Veru said the trend is likely to lead to more mergers in the coming months, as cash-rich companies look for ways to raise their revenue. A wave of mergers could shift the stock market's rally into a higher gear, he said.

The stock market cleared new milestones Friday after the government reported that employers added more workers to their payrolls in recent months. The unemployment rate fell to 7.5 percent, the lowest level in four years.

That news sent the Dow through the 15,000 mark for the first time, while the S&P 500 closed above 1,600, another first.

In Monday trading, the Nasdaq composite rose 14.34 points to 3,392.97, an increase of 0.4 percent. The price of crude oil edged up 55 cents to $96.16 and gold rose $3.80 to $1,468.10 an ounce.

In the market for U.S. government bonds, the yield on the 10-year note inched up to 1.76 percent from 1.74 percent late Friday.

Berkshire Hathaway rose 1.3 percent, or $1.36, to $110. Warren Buffett's company turned in earnings late Friday that trumped analysts' estimates for both profit and revenue. Berkshire reported strong gains from its insurance units, Geico and General Reinsurance, its BNSF Railway company and other investments.

In a round of television interviews on Monday, Buffett said that the stock market still appears reasonably priced even though major indexes are at all-time highs. By contrast, bonds are "a terrible investment right now," he said. Buffett explained that with interest rates at historic lows, a buyer of long-term bonds is bound to take a loss when rates eventually rise.

Among other stocks in the news:

? Sysco dropped 1 percent, or 33 cents, to $34.33, after the food distributor posted net income and revenue that fell short of analysts' estimates. Sysco's CEO said the company's sales were held back by bad weather that made people less willing to spend on meals away from home. Sysco's

? Monster Beverage sank 2 percent after San Francisco's city attorney sued the company for allegedly marketing its caffeinated drinks to children. Last week, Monster Beverage filed a suit against the same city attorney over demands that the energy drink maker reduce the caffeine in its drinks and change its marketing practices. Monster lost $1.26 to $56.18.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-05-06-US-Wall-Street/id-5b6070e27b4943cc801733b9fa15cf9f

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