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Wall Street weekahead: Housing shares dependent on economy easing but not falling

Traders work on the floor of the NYSE in New York
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 8, 2019. REUTERS/Brendan McDermid

March 9, 2019

By April Joyner

NEW YORK (Reuters) – The pace of U.S. economic growth may prove to be critical for shares of homebuilders, which have climbed sharply as spring approaches. An easing economy that allows for lower interest rates supports an optimistic outlook for the industry, investors say, but any hints of a sustained downturn could sink shares.

So far this year, the PHLX Housing Index has jumped 16.3 percent, versus a 9 percent advance for the benchmark S&P 500.

Housing shares tend to rise from late fall to early spring, in anticipation of the busiest selling season of the year for homebuilders. Since 2002, the PHLX Housing Index has averaged a 7.1 percent rise between the end of October and the end of April, versus a 3.8 percent drop outside of that period.

This year’s run-up is pronounced given the sharp tumble U.S. stocks took in the fourth quarter of 2018. The PHLX Housing Index fell 15.7 percent, even more than the S&P 500’s 14 percent decline. The seasonal trend in homebuilding shares has been resilient even in the face of dismal data that showed U.S. housing starts dropped to their lowest level in two years.

Yet a survey from the National Association of Home Builders showed that homebuilder confidence increased in February, and the latest housing starts data released by the Commerce Department on Friday showed that homebuilding increased more than expected in January.

Along with a positive outlook for the U.S. economy as a whole, those data support a sustained climb in homebuilding shares, some investors say.

“The risk-reward ratio for housing still looks good, as long as employment and household formation remain strong,” said Eric Marshall, portfolio manager at Hodges Capital in Dallas.

Elevated home prices have been one of the biggest hurdles for the industry, both investors and analysts say. Rising mortgage rates, which climbed past 5 percent last fall, exacerbated concerns about affordability.

But mortgage rates have since eased in tandem with Treasury yields as the Federal Reserve has indicated it will pause interest-rate hikes and inflation has remained benign. U.S. 30-year mortgage rates are tied to the benchmark 10-year Treasury yield.

“We have had a revival in housing because rates have declined,” said Gary Shilling, president of the investment research firm A. Gary Shilling & Co. in Springfield, New Jersey.

Home prices have also moderated, with the S&P/Case-Shiller index showing prices increasing in December by the smallest percentage since November 2014.

The 2017 U.S. federal tax overhaul capped deductions for state and local taxes, which raised concerns that people would be dissuaded from buying homes in high-tax states such as New York and California. But a slowdown in those markets may be offset by an uptick in other regional markets.

The Las Vegas market, for instance, has drawn interest from home buyers deterred by high tax rates in California, said Jack Micenko, housing analyst at Susequehanna Financial Group in New York.

Homebuilders that focus on entry-level homes are also especially poised to reap benefits as more Millennials seek to buy their first homes, said Marshall. Hodges owns shares of Century Communities Inc, D.R. Horton Inc and LGI Homes Inc, all of which build starter homes.

Still, given persistently high home prices, affordability could weigh on the housing market once again, said Torsten Sløk, chief international economist at Deutsche Bank Securities in New York.

That may be especially the case if economic conditions show signs of deterioration. Such concerns rose on Friday when Labor Department data showed the U.S. economy added just 20,000 jobs in February.

While an economic slowdown would support a further decline in interest rates, the ensuing downturn in consumer confidence would outweigh the effect of more accomodative rates, investors say.

“The labor market is crucial for consumer confidence,” said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey. “If it suddenly slows down to where it looks like a recession is coming, the housing market would suffer.”

(Reporting by April Joyner; Editing by Alden Bentley and Susan Thomas)

Source: OANN

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Argentina’s Evita remembered through toys for poor children

A half-deflated leather football, a box of marbles and a ragged doll line the display cabinets in the Evita Museum like ancient relics. These worn-out toys played a vital role in the rise of Peronism in Argentina, one of Latin America's most influential movements.

Long before politicians started using social media to influence public opinion, the movement of Juan Perón and his second wife also sought to touch voters on a personal level: handing out toys to 4 million children to poor children. The practice was fundamental to the popularity of Peronism, which persisted far beyond the deaths of Perón and wife Eva María Duarte, famously known as Evita.

To mark the 100th anniversary of her birth, the Evita Museum in Buenos Aires has inaugurated an exhibition of the toys.

Source: Fox News World

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New Zealand mosque killings spark debate over free speech

New Zealanders are debating the limits of free speech after their chief censor banned a 74-page manifesto written by the man accused of slaughtering 50 people at two mosques in the city of Christchurch.

The ban, issued Saturday, means anybody caught with the document on their computer could face up to 10 years in prison, while anyone caught sending it could face 14 years. Some say the ban goes too far and risks lending both the document and the gunman mystique.

At the same time, many local media organizations are debating whether to even name the Australian man charged with murder in the March 15 attacks, 28-year-old Brenton Tarrant, after New Zealand Prime Minister Jacinda Ardern vowed she would never mention him by name.

In some ways, Tarrant's manifesto provides the greatest insight into his character and thinking, with neighbors and those he met in a gym in the sleepy seaside town of Dunedin recalling nothing particularly remarkable about him.

Chief Censor David Shanks said Tarrant's manifesto contains justifications for acts of tremendous cruelty like killing children and encourages acts of terrorism, even outlining specific places to target and methods to carry out attacks.

He said that in banning the document, he and his staff worried about drawing more attention to it. But in the end, he said, they decided they needed to treat it the same way as propaganda from groups like the Islamic State, which they have also banned.

Shanks had earlier placed a similar ban on the 17-minute livestream video the killer filmed from a camera mounted on his helmet during the shootings. He said researchers and journalists could apply for exemptions from both bans.

But while free speech advocates haven't questioned banning the graphic video, they said banning the manifesto is a step too far.

"People are more confident of each other and their leaders when there is no room left for conspiracy theories, when nothing is hidden," said Stephen Franks, a constitutional lawyer and spokesman for the Free Speech Coalition. "The damage and risks are greater from suppressing these things than they are from trusting people to form their own conclusions and to see evil or madness for what it is."

Franks said he had no interest in reading the manifesto until it was banned. He now is curious because it is "forbidden fruit," he said, and he worries others may feel the same way. He said the ban makes no sense when New Zealanders remain free to read Adolf Hitler's autobiography, "Mein Kampf."

Ardern told Parliament last week that she wouldn't give the gunman anything he wanted.

"He sought many things from his act of terror, but one was notoriety," she said. "And that is why you will never hear me mention his name."

She said people should instead remember the names of the victims.

Some media organizations appear to be taking up her call. News website Stuff on Saturday published an 1,800-word profile on Tarrant without once naming him.

"Our view at the moment is that we're dialing back on naming him, unless it's pertinent or important," said Mark Stevens, the editorial director at Stuff.

The New Zealand Herald also published a profile on Tarrant with an accompanying editorial that mentions Ardern's stance. The editorial says, "Our piece keeps the mention of his name to a minimum."

News organizations fear Tarrant will use his trial as a soapbox to promote his white nationalist views, especially after he fired his lawyer and said he'd represent himself.

But Danish journalist Claus Blok Thomsen, who works for the Politiken newspaper and covered the trial of Norwegian mass murderer Anders Breivik, said there are dangers in censoring Tarrant. He said that during the Breivik trial, many media outlets, including his own, were careful to report only what happened in court without discussing Breivik's far-right ideology.

He said it was an approach favored by intellectuals and so-called experts, but when he interviewed the families of the victims, he found many of them were angry.

"They said when we start to censor ourselves, we just make him into a martyr," Thomsen said. "We are not able to learn how mad this guy was, what his thinking was, until everything is out in the light."

In his manifesto, Tarrant describes himself as being born into a working-class family and not being interested in university. He says he made some money investing, although in other internet posts he talks about getting an inheritance when his father died.

In Dunedin, about a five-hour drive south of Christchurch, Tarrant lived in a modest pale-green wooden apartment. His neighbors said they'd see him out running sometimes, but that he mostly kept to himself. At the Anytime Fitness gym, those who knew him described him as polite and interested mainly in pumping weights that build upper-body strength.

Tarrant was also a member of the Bruce Rifle Club, which has a shooting range down a dusty forest road that's used mostly by hunters and loggers, about a 45-minute drive southwest of Dunedin near the rural town of Milton.

Dozens of boxes of bowling pins stacked in teetering towers and a few fluorescent vests are all there is inside a simple hut at the range. The club closed indefinitely last week after it emerged that Tarrant was a member.

But like much of his life in Dunedin, Tarrant was something of a ghost at the club. Polite, low-key, helpful, normal. Club vice president Scott Williams told the Otago Daily Times that Tarrant seemed "as normal as anyone else" and never mentioned anything about his white supremacist beliefs.

"I think we're feeling a bit stunned and shocked and a bit betrayed, perhaps, that we've had this person in our club who has ended up doing these horrible things," he told the newspaper.

Williams said Tarrant was always helping out around the club, including setting up and packing down the range. He said Tarrant used a hunting rifle and an AR-15, which wasn't unusual.

One of the few people who has publicly said he had concerns about Tarrant before the attacks is hunting guide Pete Breidahl. He said he complained in 2017 to a local police officer who monitors gun licenses about the disturbing behavior of some members of the rifle club.

In a Facebook video and comments posted online, Breidahl said some club members had Confederate flags, wore camouflage clothing with rank insignia, vilified Muslims and had homicidal fantasies. He claimed to have met Tarrant, calling him "not right." Police said they had no record of a complaint but were looking into Breidahl's claims.

In his manifesto, Tarrant claims he got approval for his attack from Breivik, who killed 77 people in Oslo and a nearby island in 2011. Breivik's lawyer has said that's very unlikely because his client has limited contact with the outside world from his prison cell.

Thomsen, the journalist, said the biggest fear he and other reporters had when they were covering Breivik was that he would inspire a copycat killer. Now he's traveled to Christchurch to learn more about what happened there.

"I think it's safe to say that this is what we feared," he said.

Source: Fox News World

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Man Who Refuses to Pay Taxes Until Abortion Is Defunded Wins Huge Court Victory

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A Christian man who refuses to pay his taxes until the government stops funding abortion has won an historic lawsuit against the IRS.

Michael Bowman has refused to file a tax return or pay taxes since 1999.  “I’m not a tax protester. I love my country,” he told reporters. “I have a duty to my country. I have a duty to my conscience.”

Lifesitenews.com reports: The IRS has sent him numerous warnings over unpaid taxes from 2002 to 2014, and in 2012 the Oregon Department of Revenue began garnishing money from Bowman’s bank account. In response, he started cashing out his paychecks and leaving only a minimum balance in his account.

This, federal prosecutors say, constituted “remov[ing] his income from the reach of taxing authorities.” They indicted him for felony tax evasion in the amount of $356,857, as well as four misdemeanor counts of willful failure to file tax returns.

Bowman’s attorney, Matthew Schindler, argued that his client was fully transparent every step of the way, from disclosing all of his paychecks to cashing them at his own bank, under his own name.

“Like a player collapsing as they lose Twister, the government has reached too far forward and stretched way too far back,” his motion to dismiss read.

Last week, US District Judge Michael Mosman sided with Bowman on the felony charge, ruling that the feds failed to show he attempted to conceal income or deceive the government. Prosecutors remain free to re-introduce the charge in the future, and are currently weighing whether to do so.

On Tuesday, Bowman elaborated on his stand in an interview with CBN News.

“First, I would love to pay taxes so as to have a normal life, however, our government is using the tax dollars to fund Planned Parenthood; which commits abortions – the death of the innocent,” Bowman said. “Apparently, a woman has the right to choose, but evidently, I do not.”

He also took aim at the common rejoinder that every American citizen has to pay taxes for things with which they might personally disagree, such as war. “You see, the Constitution grants certain abilities to the government, e.g. funding the military, but killing children is not a Constitutional backed, compelling interest of the government by any stretch of the imagination,” Bowman explained.

Planned Parenthood receives more than $500 million per year from the federal government, and performs more than 300,000 abortions. Federal law forbids taxpayer dollars from being directly spent on abortions, though pro-life groups argue that the money still enables abortion facilities to grow their reach and influence, and spend more revenue from other sources on abortions.

“All the government has to do is put a check box on the tax forms that says check here to support Planned Parenthood, and write in your donation amount,” Bowman proposed. “Then, just like any church or charity, Planned Parenthood will be funded by those that have no problem with it, and the 150 million people like me that are pro-life, can pay their taxes and live knowing we kept our conscience clean.”

He vowed that he will continue his resistance as long as the government continues funding the abortion industry.

“My effort [is] about standing up, standing firm for my Constitutional rights, and getting the government to honor title 42 Chapter 21.b The Religious Freedom Restoration Act, so that I may live a peaceful life, and in the end face God, and hopefully have Him say, ‘Well done, good and faithful servant!” he said.

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Last migrants end protest, evacuate makeshift camp in Greece

The last 60 holdouts from among nearly 1,000 migrants who fought with Greek police for three days have left their makeshift camp in northern Greece.

The migrants clashed with police because they believed false reports on social media that restrictions on travel to central and northern Europe had been lifted.

Police detained a few of the 60 who had no valid papers. The rest left either for migrant camps or apartments across Greece. None of the residents of a nearby official camp were among them.

Even as the makeshift camp started emptying late Saturday, a group was heard cheering loudly. Asked why, they said Chancellor Angela Merkel was opening Germany's borders. Like the previous reports, this one also was false.

Most of the migrants are refugees from Syria, Iraq and Afghanistan.

Source: Fox News World

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Trump's Twitter Habits Influencing Politics, And The Law

President Donald Trump's Twitter habits have influenced how other elected and government officials interact with constituents online – and has become a free speech issue being battled in court, The Washington Post reported.

In court cases in Wisconsin, Missouri, and South Carolina, politicians are fighting over whether they can block their constituents from Twitter online conversations — and in each, a federal court ruling against Trump last May was cited — a case that is due to be argued on appeal Tuesday.

In the case, U.S. District Judge Naomi Buchwald of New York said Trump violated the First Amendment by blocking individual users critical of the president or his policies. The comments attached to Trump's tweets are a public forum, the judge ruled. Trump unblocked the seven people behind the lawsuit and appealed.

"Sometimes public officials don't back down," Jameel Jaffer, executive director of the Knight First Amendment Institute at Columbia University — who is scheduled to argue the case against the president Tuesday — told the Post.

"But the courts seem to be siding with the constituents who are blocked, and in some cases the public officials are changing their minds."

Justice Department lawyers say in court filings in New York that @realDonaldTrump is a personal account on a privately owned digital platform. Trump created the account before he took office, and it is subject to his control — not the control of the federal government, they argue.

Analiese Eicher, executive director of One Wisconsin Now, told the Post that being able to monitor state officials and interact with them online is critical to the group's work on voting rights, student loan debt and free speech.

Banning people is just as problematic "online as it is at a town hall meeting," she told the Post.

"Free speech is not just for people or organizations with whom public officials like or agree with," she told the Post.

Source: NewsMax America

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What to know about Bernie Sanders’ Fox News town hall

Bernie Sanders is getting ready to make his pitch for president in front of a large audience at Fox News' town hall next week.

Fox News' Bret Baier, of "Special Report," and Martha MacCallum, of "The Story," will co-anchor the hour-long event. It will be the Vermont senator's first appearance on Fox News Channel since he agreed to be a guest on Baier's show in December 2018. He also participated in Fox News Channel's Democratic town hall back in 2016 alongside his then-competitor Hillary Clinton.

5 THINGS TO KNOW ABOUT BERNIE SANDERS

Sanders, who raised $18 million in the first six weeks of his campaign, is considered a front-runner among a crowded field of 2020 presidential hopefuls. Before the self-proclaimed Democratic socialist takes the stage next week, here's a look at everything you need to know.

When and where is the Fox News town hall?

The Sanders town hall will take place on Monday, April 15 from 6:30 p.m. to 7:30 p.m. ET in Bethlehem, Pennsylvania.

How can I watch it?

You can watch the town hall on the Fox New Channel. The event will also be available via live stream — just log into your TV provider to watch the event in real-time on foxnews.com or the Fox News app.

"The Story with Martha Maccallum" will air on Fox News immediately following the event at 7:30 p.m. ET.

What will Sanders focus on during the town hall?

The 77-year-old — the longest-serving Independent member of Congress ever — is expected to focus on the economy and his plans for U.S. job growth.

"It’s time for an economy that works for all of us, not just the rich," Sanders has repeatedly said in the past.

HOW DID BERNIE SANDERS MAKE HIS MONEY? A LOOK AT HIS WEALTH AND ASSETS

In December 2018, Sanders outlined four ways to "revitalize" the U.S. economy: increasing the minimum wage to $15 by 2024, universal health care, tuition-free colleges and the creation of "millions of jobs" in sustainable energy.

"Our campaign is about creating a government and economy that work for the many, not just the few," tweeted Sanders in February. "We should not have grotesque levels of wealth inequality in which three billionaires own more wealth than the bottom half of the country."

Source: Fox News Politics

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Senior White House adviser Jared Kushner said Tuesday that a detailed plan for a merit-based immigration system will be presented to President Trump, giving priority to skilled immigrants rather than those with family ties to the U.S.

“I do believe that the president’s position on immigration has been maybe defined by his opponents by what he’s against as opposed to what he’s for,” Kushner said at the Time 100 Summit in New York City. “What I’ve done is I’ve tried to put together a very detailed proposal for him.”

KUSHNER: RUSSIA INVESTIGATION HAD ‘HARSHER IMPACT’ ON US THAN ELECTION MEDDLING

Kushner announced that the new immigration proposal, which Trump will receive this week or next, will resemble the point-based systems in Canada, Australia and New Zealand, and will unify people by ensuring strong wages and secure borders while protecting humanitarian values.

“We want to protect our country’s humanitarian values. We want to make sure we’re reunifying families, and we want to do this in a way that allows our country to be competitive long term,” he said. “And my hope is we can really do something that unifies people around what we’re for on immigration.”

“We want to protect our country’s humanitarian values. We want to make sure we’re reunifying families, and we want to do this in a way that allows our country to be competitive long term. And my hope is we can really do something that unifies people around what we’re for on immigration.”

— Jared Kushner

JARED KUSHNER RESPONDS AFTER HASAN MINHAJ CALLS OUT HIS TIES TO SAUDI PRINCE

Kushner denied in the same talk that he has clashed with White House staffer Stephen Miller, who’s seen as tougher on immigration than others, adding that the plan was concocted with the help of Miller and Kevin Hassett, chairman of the Council of Economic Advisers.

“And I say that If that if I can get Stephen Miller and Kevin Hassett to agree on an immigration plan, then Middle East peace will be easy by comparison,” Kushner joked, referring to the Israel-Palestine peace plan he’s working on.

“And I say that If that if I can get Stephen Miller and Kevin Hassett to agree on an immigration plan, then Middle East peace will be easy by comparison.”

— Jared Kushner

After the plan gets presented to Trump, it will likely undergo some changes and then he will decide when to proceed with it, Kushner said.

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“It’s very, very complicated, but it’s a very interesting issue, and if we can solve it, I do think it’s a critical component for America’s long-term competitive advantage,” he added.

The Associated Press contributed to this report.

Source: Fox News Politics

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Brazilian President Jair Bolsonaro on Thursday said his government must make men aware of the dangers of poor hygiene after expressing dismay over the 1,000 penis amputations that apparently occur in his country each year.

“In Brazil, we have 1,000 penis amputations a year due to a lack of water and soap,” he said while speaking to reporters in Brasilia after visiting the Education Ministry. “We have to find a way to get out of the bottom of this hole.”

The far-right leader called the figure “ridiculous and sad,” Reuters reported. A spokeswoman for the Brazilian urology society told the news agency the number is based on its official data for penis amputations.

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The amputations were conducted out of necessity over untreated infections, along with complications from HIV and various cancers, she said.

Source: Fox News World

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A top Russian diplomat says Russia is willing to negotiate a new nuclear weapons treaty with the United States and China.

Deputy Foreign Minister Sergei Ryabkov told reporters on Friday Moscow is closely following reports in the United States that the U.S. would like to reach a nuclear weapons deal with both Russia and China, and is “willing” to negotiate. The story was reported by CNN earlier Friday.

Ryabkov also said that Russia “would like to convince” the U.S. to adopt a joint statement that would condemn any use of nuclear weapons.

Ryabkov’s comments come just months after the U.S. withdrew from the Intermediate-Range Nuclear Forces Treaty, a cornerstone of the post-Cold War security, and Russia followed suit. Each claims breaches by the other.

Source: Fox News National

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Government dysfunction and an intelligence failure that preceded the Easter Sunday bombings in Sri Lanka are traced to simmering divisions between the president and prime minister after a weekslong political crisis that crippled the country last year.

The government has admitted to a “lapse of intelligence” after officials failed to act upon near-specific information received from foreign agencies. Suicide bombers exploded themselves last Sunday in three churches and three luxury hotels, killing 253 people and wounding 400 more. Authorities said eight Muslim militants blew themselves up at their targets while the wife of one of the attackers blasted herself on being rounded up by police.

The carnage has brought forth arguments that worshippers and holidaymakers fell victim to the rivalry and a lack of communication between the country’s two leaders — President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe.

The Cabinet led by Wickremesinghe says neither he nor his ministers were informed of the intelligence received by the defense authorities. Sirisena is the head of state, defense minister, minister in charge of the police and head of the armed forces. He also chairs the National Security Council, which includes the heads of security agencies and departments. Traditionally the prime minister also plays an important role on the council.

According to Health Minister Rajitha Senaratne, Sirisena has not included Wickremesinghe in national security affairs since a dispute between them came into the open in October last year. This is an unusual departure from the protocol, he said.

Senaratne said that Sirisena was overseas when the attacks took place and even after that, the National Security Council refused to meet with Wickremesinghe as he tried to give them instructions.

Sirisena has also said that he was not informed of the intelligence received and vowed to overhaul the leadership of the defense forces.

The top bureaucrat at the Defense Ministry, Hemasiri Fernando, has resigned at Sirisena’s insistence.

“It is a major factor,” said Jehan Perera, the head of local activist group National Peace Council, referring to the alleged lack of coordination between the leaders contributing to the failure to prevent the attacks.

“The primary responsibility has to be taken by the president, he did not give the information and he did not act,” Perera said. “He had the Ministry of Defense, took the police from the prime minister, chaired the National Security Council meetings and did nothing,” Perera said.

Kusal Perera, a journalist and political commentator, says security and intelligence officials should have acted on the information whether or not they received orders from politicians.

“If they (Wickremesinghe and his party) were not invited to the National Security Council, why did not they say in Parliament that they were not responsible for the security of the country any longer,” said Perera, who is not related to Jehan Perera.

“Saying that now is taking political advantage, not taking responsibility,” he said.

Sirisena and Wickremesinghe belong to different political parties but came together for Sirisena’s presidential campaign in 2015. Their relationships broke down and their differences exploded last year when Sirisena suddenly sacked Wickremesinghe as prime minister and appointed in his place former strongman Mahinda Rajapaksa, whom he defeated in the presidential election. The crisis crippled the country for more than seven weeks to the point of not being able to pass this year’s national budget on time.

A court decision compelled Sirisena to reappoint Wickremesinghe, but the two leaders have been rivals within the same government.

Rajapaksa, who is the minority leader in Parliament, blames the government for weakening intelligence and dropping its guard, which he had maintained to defeat the separatist Tamil Tiger rebels 10 years ago to end the 26-year-old civil war. He also criticized the government for the detention of intelligence officers accused of extrajudicial killings and abductions during the closing days of the war, which he said crippled the security apparatus before the bombings. According to conservative U.N estimates, some 100,000 people were killed in Sri Lanka’s conflict.

Sirisena summoned an all-party conference Thursday to which Wickremesinghe was also invited. At the conference, Sirisena stressed “setting aside all the political beliefs and difference (so that) everybody should collectively commit towards building a peaceful environment within the country,” a statement from his office said.

“It is not a secret that the disagreements between me and the government aggravated over the past two years,” Sirisena told the country’s media executives Friday. “One of the reasons for that is weakening of military intelligence and arresting military officials unnecessarily and my speaking up against it within and outside the government.”

Jehan Perera said that the security threat could prove politically advantageous to Rajapaksa and his family, with a presidential election scheduled at the end of this year. Gotabhaya Rajapaksa, a younger brother of Mahinda, was the powerful defense secretary during his brother’s reign and has expressed his interest to join the contest.

“People are saying we want a stronger leader and they are talking about Gotabhaya. It (the blasts) has worked to their benefit,” Perera said.

Source: Fox News World

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Cyprus police are intensifying a search for the remains of more victims at locations where an army officer, who authorities say admitted to killing five women and two girls, allegedly had dumped their bodies.

Police said Friday’s search will concentrate on a military firing range, a reservoir and a man-made lake near an abandoned mine approximately 32 kilometers (20 miles) west of the capital Nicosia.

On Thursday, the 35-year-old suspect told investigators that he had killed four more people than he had previously admitted to. All the suspect’s alleged victims are foreign nationals.

Police have already found the bodies of a 38-year-old Filipino woman and two as yet unidentified women.

Search crews are now looking for the daughter of the 38-year-old, a Romanian mother and daughter and another Filipino woman.

Source: Fox News World

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