Israeli, US defence chiefs discuss Middle East issues

WASHINGTON: US Defence Secretary Leon Panetta and his Israeli counterpart Ehud Barak met to underscore a "strong US commitment to Israel's security", the Pentagon said.

US Defence Department spokesman George Little said in a statement that the two men "discussed a range of issues, and expressed their commitment to ensuring continued cooperation on many important regional issues -- particularly Syria, Iran, and Gaza".

"The secretary commended Minister Barak on his tireless efforts in advancing the US-Israel strategic relationship," Little said, adding the pair "reiterated the strong US commitment to Israel's security and the strong US-Israel defence relationship."

The meeting was the 11th for Barak and Panetta, who is leaving his post shortly.

President Barack Obama has nominated former US senator Chuck Hagel to succeed Panetta, a longtime Washington figure who has said he will be leaving public life.

- AFP/al

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Kin bid tearful adieu to soldier killed by Pakistan troops

MATHURA: Hundreds of villagers joined family in bidding adieu on late Wednesday evening to deceased Lance Naik Hemraj Singh, who was killed by Pakistan troops during a ceasefire violation in Jammu and Kashmir.

In Singh's native village of Shernagar under Mathura district of Uttar Pradesh, scores of locals flocked to the soldier's residence to honour him.

The inconsolable family of the soldier comprising an ageing mother, his wife, two daughters and a toddler son was seen being pacified by local women.

Army officials who escorted Singh's coffin from New Delhi participated in the last rite and also gave a rifle salute by firing several rounds in the air in honour of the soldier who died at the hands of the enemy at the Line of Control (LoC).

Lance Naik Hemraj, one of the two Indian soldiers killed by Pakistani troops in a violation of truce on the Kashmir border, was the family's sole breadwinner.

Hemraj, who joined the Army in 2001, was the second of three brothers and the sole earning member of his family after the death of his father.

Pakistani troops crossed the territory's heavily militarised LoC on Tuesday (January 08) and fired at an Indian army patrol.

The body of one of the soldiers was found "badly mutilated" in a forested area on the side controlled by India, Indian military officials said. Pakistan has denied the allegation.

The army had said that in a separate incident later on Tuesday, both sides shot at each other for more than an hour across the Line of Control (LoC) that divides Jammu and Kashmir.

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Retooling Pap test to spot more kinds of cancer

WASHINGTON (AP) — For years, doctors have lamented that there's no Pap test for deadly ovarian cancer. Wednesday, scientists reported encouraging signs that one day, there might be.

Researchers are trying to retool the Pap, a test for cervical cancer that millions of women get, so that it could spot early signs of other gynecologic cancers, too.

How? It turns out that cells can flake off of tumors in the ovaries or the lining of the uterus, and float down to rest in the cervix, where Pap tests are performed. These cells are too rare to recognize under the microscope. But researchers from Johns Hopkins University used some sophisticated DNA testing on the Pap samples to uncover the evidence — gene mutations that show cancer is present.

In a pilot study, they analyzed Pap smears from 46 women who already were diagnosed with either ovarian or endometrial cancer. The new technique found all the endometrial cancers and 41 percent of the ovarian tumors, the team reported Wednesday in the journal Science Translational Medicine.

This is very early-stage research, and women shouldn't expect any change in their routine Paps. It will take years of additional testing to prove if the so-called PapGene technique really could work as a screening tool, used to spot cancer in women who thought they were healthy.

"Now the hard work begins," said Hopkins oncologist Dr. Luis Diaz, whose team is collecting hundreds of additional Pap samples for more study and is exploring ways to enhance the detection of ovarian cancer.

But if it ultimately pans out, "the neat part about this is, the patient won't feel anything different," and the Pap wouldn't be performed differently, Diaz added. The extra work would come in a lab.

The gene-based technique marks a new approach toward cancer screening, and specialists are watching closely.

"This is very encouraging, and it shows great potential," said American Cancer Society genetics expert Michael Melner.

"We are a long way from being able to see any impact on our patients," cautioned Dr. Shannon Westin of the University of Texas MD Anderson Cancer Center. She reviewed the research in an accompanying editorial, and said the ovarian cancer detection would need improvement if the test is to work.

But she noted that ovarian cancer has poor survival rates because it's rarely caught early. "If this screening test could identify ovarian cancer at an early stage, there would be a profound impact on patient outcomes and mortality," Westin said.

More than 22,000 U.S. women are diagnosed with ovarian cancer each year, and more than 15,000 die. Symptoms such as pain and bloating seldom are obvious until the cancer is more advanced, and numerous attempts at screening tests have failed.

Endometrial cancer affects about 47,000 women a year, and kills about 8,000. There is no screening test for it either, but most women are diagnosed early because of postmenopausal bleeding.

The Hopkins research piggybacks on one of the most successful cancer screening tools, the Pap, and a newer technology used along with it. With a standard Pap, a little brush scrapes off cells from the cervix, which are stored in a vial to examine for signs of cervical cancer. Today, many women's Paps undergo an additional DNA-based test to see if they harbor the HPV virus, which can spur cervical cancer.

So the Hopkins team, funded largely by cancer advocacy groups, decided to look for DNA evidence of other gynecologic tumors. It developed a method to rapidly screen the Pap samples for those mutations using standard genetics equipment that Diaz said wouldn't add much to the cost of a Pap-plus-HPV test. He said the technique could detect both early-stage and more advanced tumors. Importantly, tests of Paps from 14 healthy women turned up no false alarms.

The endometrial cancers may have been easier to find because cells from those tumors don't have as far to travel as ovarian cancer cells, Diaz said. Researchers will study whether inserting the Pap brush deeper, testing during different times of the menstrual cycle, or other factors might improve detection of ovarian cancer.

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Flu Kills 4 Seniors, Sickens 700 in Boston

An early and nasty flu season has prompted a public health emergency in Boston, where health officials say 700 people have been diagnosed with the cold-weather virus. Four Bostononians -- all elderly -- have died from flu.

"This is the worst flu season we've seen since 2009, and people should take the threat of flu seriously," Boston Mayor Thomas Menino said in a statement.

This time last year the city had seen only 70 cases of influenza, The Associated Press reported. And with flu activity likely to extend into March or even April, the number will only grow.

Menino said the city is working with health care centers to offer free flu vaccines, and he urged anyone with flu-like symptoms to stay home from work or school.

"This is not only a health concern, but also an economic concern for families," he said in the statement. "I'm urging residents to get vaccinated if they haven't already."

Eighteen people have died from flu in Massachusetts, one of 41 states battling widespread influenza outbreaks. Emergency rooms across the country have been overwhelmed with flu patients, turning away some of them and others with non-life-threatening conditions for lack of space.

The proportion of people seeing their doctor for flu-like symptoms jumped to 5.6 percent from 2.8 percent in the past month, according to the CDC.

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Northwestern Memorial Hospital in Chicago reported a 20 percent increase in flu patients every day. Northwestern Memorial was one of eight hospitals on bypass Monday and Tuesday, meaning it asked ambulances to take patients elsewhere if they could do so safely.

Dr. Besser's Tips to Protect Yourself From the Flu

Most of the hospitals have resumed normal operations, but could return to the bypass status if the influx of patients becomes too great.

"Northwestern Memorial Hospital is an extraordinarily busy hospital, and oftentimes during our busier months, in the summer, we will sometimes have to go on bypass," Northwestern Memorial's Dr. David Zich said. "We don't like it, the community doesn't like it, but sometimes it is necessary."

A tent outside Lehigh Valley Hospital in Salisbury Township, Pa., was set up to tend to the overflowing number of flu cases.

A hospital in Ohio is requiring patients with the flu to wear masks to protect those who are not infected.

State health officials in Indiana have reported seven deaths. Five of the deaths occurred in people older than 65 and two younger than 18. The state will release another report later today.

Doctors are especially concerned about the elderly and children, where the flu can be deadly.

"Our office in the last two weeks has exploded with children," Dr. Gayle Smith, a pediatrician in Richmond, Va., said

It is the earliest flu season in a decade and, ABC News Chief Medical Editor Dr. Besser says, it's not too late to protect yourself from the outbreak.

"You have to think about an anti-viral, especially if you're elderly, a young child, a pregnant woman," Besser said.

"They're the people that are going to die from this. Tens of thousands of people die in a bad flu season. We're not taking it serious enough."

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Analysis: Modi's Gujarat growth model might not work across India

SURAT, India (Reuters) - Turning a single Indian state with a long tradition of entrepreneurship and a solid political majority into an investor-friendly economic powerhouse is one thing.

Replicating that experience across a diverse country of 1.2 billion would be a tougher prospect for Narendra Modi, whose leadership of booming Gujarat state has led to his being touted as a potential candidate to become India's next prime minister.

While Modi wins praise even from critics for cutting red tape and making government more responsive and predictable, many ingredients for Gujarat's run of growth were in place well before he took office in 2001.

"It is like an icing on cake sort of thing. You have a nice cake and Modi has done a lot of good icing," said Rakesh Chaudhary, director of Pratibha Group, a textile manufacturer in Palsana on the outskirts of the Gujarat city of Surat.

Industry in Gujarat is helped by a long coastline and plenty of barren land that is easy to turn over to factory use.

The power that comes from a long-standing and heavy majority for his Bharatiya Janata Party (BJP) in the state also gives Modi an advantage that he would not enjoy on a national stage marked by fractious coalition politics.

Despite a controversial past - Modi is accused by critics of not doing enough to stop or of even quietly encouraging religious riots in 2002 that saw as many as 2,000 killed, most of them Muslims - he has established a reputation as an economic reformer in part by building on the strengths of Gujarat and marketing them heavily.

Modi's marketing savvy, aided by the Washington lobbying and public affairs firm APCO Worldwide, will be on display at the biennial "Vibrant Gujarat Summit" that begins on Friday.

Initiated by Modi in 2003 to attract investment after the violence and an earthquake in 2001, the event is attended by thousands of corporate officials who pledge billions in investment, although in reality only a fraction has seen the light of day. Of 12.4 trillion rupees ($225 billion) in investment proposed at the 2009 event, just 8.5 percent had been spent as of November 2011, according to state government data.

"Under Modi's regime, there has been significant improvement in infrastructure growth, significant improvement in industrialization, as well as agriculture," said Jahangir Aziz, senior Asia economist at JPMorgan. "But what has been overplayed is initial conditions were actually pretty decent in Gujarat."

HIGHER OFFICE?

The stocky Modi, who favors traditional Indian attire and a clipped white beard, plays down any prime ministerial ambitions.

But his popularity in Gujarat - the BJP won 115 of the state assembly's 182 seats in a December election - has fuelled speculation that he could lead his Hindu nationalist party in 2014 against India's ruling Congress party, which has been beset by corruption scandals and overseen a sharp economic slowdown.

"His economic record in Gujarat is obviously something which matters a lot to the middle classes. That, coupled with strong leadership," said Swapan Dasgupta, an analyst with links to the BJP who expects Modi to be the party standard-bearer in 2014.

Critics say that while Modi has indeed encouraged investment and helped bring reliable electricity and law and order, double-digit growth has not been shared broadly enough. In the five years through March 2010, some states - including Tamil Nadu and Karnataka - did better at bringing down poverty levels.

"Big business people get a lot from the government and scheduled caste people (minorities) get a lot, but people like us who are in between get nothing," said Bhupendra Thakkar, 50, who earns 6,000 rupees ($109) a month selling fruit near Surat's decrepit railway station.

FRIEND OF BUSINESS

Modi lured Tata Motors to the state in 2008 after the company's plans to build a factory for its low-cost Nano car were thwarted by farmers in West Bengal.

Ford Motor Co and Maruti Suzuki are also building plants in the western state - high profile investments that carry the added benefit of acting as marketing tools.

In the seven years through March 2011, Gujarat's economy grew an annual 10.08 percent at constant prices, against 6.45 percent in the eight years through March 2002 (Modi took office in October 2001), which was still ahead of the all-India average of 6.16 percent. A handful of states, including Maharashtra and Tamil Nadu, clocked bigger gains over the same recent period.

By comparison, policy gridlock at the national level has contributed to a drop-off in corporate investment, putting India on track to record its slowest annual growth rate in a decade.

Accustomed to getting his way, Modi, 62, could struggle to negotiate the coalition politics that have become the norm at the national level and have hindered attempts at reform by Prime Minister Manmohan Singh's Congress-led administration.

"Policymaking has benefited from the fact that the BJP has had absolute majority in the state legislature - an advantage it certainly will not enjoy in the federal parliament," said Anjalika Bardalai, an analyst with the Eurasia Group in London.

Modi has also been able to leverage the business acumen of Gujaratis, a group that has long been known for trading and entrepreneurship and includes a prosperous global diaspora as well as billionaires such as Adani Group chief Gautam Adani and Mukesh Ambani, who controls Reliance Industries, India's most valuable company.

"Modi might not be as successful as he has been here because the business mentality is unique to Gujarat," said Chandrakant Sanghavi, chairman of Sanghavi Exports International, a diamond trader and processor. "It could be prevalent in other states but the ratio may be less." ($1 = 55.0700 Indian rupees)

(Editing by John Chalmers and Alex Richardson)

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Cool change aids Australia firefighters

SYDNEY: Cooler conditions helped firefighters battling blazes across Australia Wednesday but up to 30 were still out of control, destroying a handful of homes and killing thousands of livestock.

After facing one of the highest-risk fire days in its history on Tuesday, residents in hard-hit New South Wales state woke to shifting winds that caused temperatures to drop significantly.

While the mercury topped 42 degrees Celsius (107.6 F) in Sydney on Tuesday, it was forecast to peak at just 25 degrees Wednesday, while the Victorian capital Melbourne was down to 20.

The ratings on many bushfires were downgraded with none now at the "catastrophic" level which signifies fires will be uncontrollable, unpredictable and fast-moving, and evacuation the only safe option.

But NSW Rural Fire Service commissioner Shane Fitzsimmons warned against complacency, with new fronts breaking out despite the colder weather and a total fire ban still in place.

"It is far from over when it comes to the threat to New South Wales," he told reporters in Bookham, a small village in Yass Shire west of Canberra where a fire has so far burnt out 16,000 hectares (40,000 acres).

"We need to sustain the vigilance today. We are not out of the woods yet, the risk is very real and there's a long day ahead and a forecast for a return to hot conditions toward the weekend and into next week."

More than 2,000 firefighters worked through the night tackling more than 140 blazes across New South Wales, Australia's most populous state, with 30 of those uncontained.

One home was earlier believed to have been lost in the state, at Jugiong, but Fitzsimmons said it now appeared to be an outbuilding or shed.

"It's a tribute to firefighters across the state that we haven't got any homes destroyed," he said.

"But we've seen significant agricultural losses already been tallied up, thousands of hectares of pasture and crops, and stock in the thousands lost."

New South Wales Premier Barry O'Farrell said an estimated 10,000 sheep had perished in the Yass area alone.

Wildfires are a fact of life in arid Australia, where 173 people perished in the 2009 Black Saturday firestorm, the nation's worst natural disaster of modern times.

Most are ignited naturally, but in Sydney's west three teenage boys were charged with deliberately lighting a fire in bushland on Tuesday.

Victoria state has also been experiencing extreme conditions with four homes destroyed and six people treated for minor burns or smoke inhalation in a bushfire in the farming community of Carngham, which was evacuated.

Authorities said the fire was now under control.

Prime Minister Julia Gillard said the federal and state governments were working together in the recovery effort and to support victims.

"Firstly, it's all hands on deck fighting the fires, dealing with the emergency, and then we move into the recovery phase," she said.

No deaths have so far been reported.

While it was initially believed as many as 100 people could be missing in the southern island of Tasmania after wildfires razed more than 100 homes over the weekend, police said there was confusion about movements during the crisis.

"We know there have been no significant injuries, which is amazing, and we are encouraged that we haven't found any human remains at this stage," Tasmanian acting police commissioner Scott Tilyard told Sky News.

Much of southern Australia has been enduring a summer heatwave and in the nation's arid centre the popular tourist resort of Kings Canyon south of Alice Springs was damaged after a blaze spread from the Watarrka National Park.

-AFP/ac

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Earthquake hits India's northeast

SHILLONG: An earthquake of moderate intensity jolted India's northeast Wednesday morning. Officials said there were no immediate reports of casualties or damage to property.

The quake measured 5.9 on the Richter scale and was felt at 7.11 am.

According to the Regional Seismological Centre here, the epicentre lay in the India-Myanmar border.

Besides Meghalaya and Nagaland, the other states which felt the tremors included Manipur, Assam and Arunachal Pradesh, an official said.

India's northeast is considered to be the sixth most earthquake-prone belt in the world.

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Report: Death rates from cancer still inching down

WASHINGTON (AP) — Death rates from cancer are continuing to inch down, researchers reported Monday.

Now the question is how to hold onto those gains, and do even better, even as the population gets older and fatter, both risks for developing cancer.

"There has been clear progress," said Dr. Otis Brawley of the American Cancer Society, which compiled the annual cancer report with government and cancer advocacy groups.

But bad diets, lack of physical activity and obesity together wield "incredible forces against this decline in mortality," Brawley said. He warned that over the next decade, that trio could surpass tobacco as the leading cause of cancer in the U.S.

Overall, deaths from cancer began slowly dropping in the 1990s, and Monday's report shows the trend holding. Among men, cancer death rates dropped by 1.8 percent a year between 2000 and 2009, and by 1.4 percent a year among women. The drops are thanks mostly to gains against some of the leading types — lung, colorectal, breast and prostate cancers — because of treatment advances and better screening.

The news isn't all good. Deaths still are rising for certain cancer types including liver, pancreatic and, among men, melanoma, the most serious kind of skin cancer.

Preventing cancer is better than treating it, but when it comes to new cases of cancer, the picture is more complicated.

Cancer incidence is dropping slightly among men, by just over half a percent a year, said the report published by the Journal of the National Cancer Institute. Prostate, lung and colorectal cancers all saw declines.

But for women, earlier drops have leveled off, the report found. That may be due in part to breast cancer. There were decreases in new breast cancer cases about a decade ago, as many women quit using hormone therapy after menopause. Since then, overall breast cancer incidence has plateaued, and rates have increased among black women.

Another problem area: Oral and anal cancers caused by HPV, the sexually transmitted human papillomavirus, are on the rise among both genders. HPV is better known for causing cervical cancer, and a protective vaccine is available. Government figures show just 32 percent of teen girls have received all three doses, fewer than in Canada, Britain and Australia. The vaccine was recommended for U.S. boys about a year ago.

Among children, overall cancer death rates are dropping by 1.8 percent a year, but incidence is continuing to increase by just over half a percent a year. Brawley said it's not clear why.

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Holmes Played Childish Games After Aurora Carnage

As police confronted the movie theater carnage and a massive booby trap left behind by accused Aurora gunman James Holmes, the suspect loopily played with hand puppets, tried to stick a metal staple in an electrical socket and clamly flipped a styrofoam cup, according to court testimony today.

Holmes, 25, displayed the bizarre behavior once he was in custody and taken to Aurora police headquarters after the shooting that left 12 people dead and dozens injured, the lead investigator in the case testified today.

While being cross examined by Colorado public defender Daniel King, Police Detective Craig Appel was asked about the observations of two Aurora officers assigned to watch over Holmes in an interrogation room.

Appel said that to preserve possible gunshot residue, police had placed paper bags over Holmes' hands. One officer, King said, noted in a report that Holmes began moving his hands "in a talking puppet motion."

Click here for full coverage of the Aurora movie theater shooting.

King asked if Appel was also aware that the officer "observed Holmes take a staple out of the table and tried to stick it in an electrical socket?" Appel confirmed Holmes' actions.

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The officers also noted that they watched as Holmes began playing with an empty styrofoam cup, trying to "flip it" on the table.

While Holmes was carrying out his childish antics, police were puzzling over a complex booby trap Holmes had left behind in his apartment, according to testimony.

A gasoline-soaked carpet, loud music and a remote control car were part of Holmes' plan to trick someone into triggering a blast that would destroy his apartment and lure police to the explosion while he shot up a movie theater in Aurora, Colo., according to court testimony.

FBI agent Garrett Gumbinner told the court that he interviewed Holmes on July 20, hours after he killed 12 and wounded 58 during the midnight showing of "The Dark Knight Rises."

"He said he rigged the apartment to explode to get law enforcement to send resources to his apartment instead of the theater," Gumbinner said.

His plan failed to prompt someone into triggering the bombs.

Gumbinner said Holmes had created two traps that would have set off the blast.

The apartment was rigged with a tripwire at the front door connected to a mixture of chemicals that would create heat, sparks and flame. Holmes had soaked the carpet with a gasoline mixture that was designed to be ignited by the tripwire, Gumbinner said.

"It would have caused fire and sparks," the agent said, and "would have made the entire apartment explode or catch fire."

Holmes had set his computer to play 25 minutes of silence followed by loud music that he hoped would cause a disturbance loud enough that someone would call police, who would then respond and set off the explosion by entering the apartment.

Gumbinner said Holmes also told him he rigged a fuse between three glass jars that would explode. He filled the jars with a deadly homemade chemical mixture that would burn so hot it could not be extinguished with water.

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Venezuela postpones inauguration for cancer-stricken Chavez

CARACAS (Reuters) - Venezuela will postpone the inauguration of President Hugo Chavez for a new term due to health problems, the government said on Tuesday, another sign the socialist leader's cancer may be bringing an end to his 14 years in power.

The 58-year-old former soldier who has dominated the South American OPEC nation since 1999 has not been heard from since surgery on December 11 in Cuba - his fourth operation since he was diagnosed with an undisclosed type of cancer in June 2011.

The announcement outraged opposition leaders who insist that Chavez must be sworn in before the National Assembly on January 10 as laid out in the constitution, or temporarily step aside and leave an ally in power.

"The commander president wants us to inform that, based on his medical team's recommendations, the post-operative recovery should extend past January 10," said Vice President Nicolas Maduro, Chavez's chosen successor, in a letter read to the legislature.

"As a result, he will not be able to be present at the National Assembly on that date."

The letter said authorities would seek another date for the inauguration ceremony but did not say when it would take place or give a time frame for Chavez's return from Havana.

Rather than being sworn in by the legislature, he would take his oath at a later date before the Supreme Court, the letter said, as allowed by the constitution.

Government leaders insist Chavez is completely fulfilling his duties as head of state, even though official medical bulletins say he has a severe pulmonary infection and has had trouble breathing.

The government has called for a massive rally outside the presidential palace on Thursday, and allied presidents including Uruguay's Jose Mujica and Bolivia's Evo Morales have confirmed they will visit Venezuela this week despite Chavez's absence.

Argentine President Cristina Fernandez has announced plans to visit Chavez in Havana on Friday.

But the unprecedented silence by the president - famous for regularly speaking for hours in meandering broadcasts - has left many convinced he could be in his last days.

His resignation or death would upend politics in the oil-rich nation, where he enjoys a deity-like status among poor supporters thankful for his social largesse.

His critics call him a fledgling dictator who has squandered billions of dollars from crude sales while dashing the independence of state institutions.

CONSTITUTION DISPUTE

The constitution does not specify what happens if the president does not take office on January 10.

The Supreme Court, controlled by Chavez allies, called a news conference for Wednesday. It is widely expected to announce an interpretation of the constitution that will give Chavez leeway to take office when he is fit to do so.

If he dies or steps aside, new elections would be called within 30 days. Before leaving for Havana in December, the president instructed his supporters to back Maduro in that vote if he were unable to continue.

Opposition leaders argue that Congress chief and Chavez ally Diosdado Cabello should take over, as mandated by the constitution if the president's absence is formally declared.

Cabello has ruled that out, saying the president continues to be in charge.

"Who could have believed the opposition would be screaming for Diosdado Cabello to be given the presidency of the republic?" he said during a rambunctious session of Congress. "That's crazy, the opposition is losing it."

Meanwhile opposition deputies accused the Socialist Party of failing to follow Chavez's instructions - a scene that would have been unimaginable before Chavez's prolonged absence.

"President Chavez is the only one among you who has spoken clearly," said opposition leader Julio Borges.

He was drowned out by pro-Chavez deputies clapping and chanting the socialist leader's name and rebuffed by Cabello, who had long been considered a potential successor to Chavez until he was passed over for Maduro.

"It's not my fault you weren't chosen, don't take your frustration out on me," Borges quipped.

Another opposition deputy complained that during the debate a copy of the constitution was thrown across the chamber from the direction of the Socialist Party's deputies.

Chavez's supporters have held near-daily vigils for his recovery, while opposition activists accuse the president's allies of a Cuban-inspired manipulation of the situation.

Maduro has taken over the day-to-day running of the government and looks set to continue in the role past Thursday.

The mustachioed former bus driver lacks Chavez's charisma, but he has sought to imitate the president's style with vituperative attacks on the opposition and televised ribbon-cutting ceremonies.

With the micro-managing Chavez away, major policy decisions in Venezuela, such as a widely expected devaluation of the bolivar currency, appear to be on hold.

Venezuelan bond prices, which had soared in recent weeks on Chavez's health woes, dipped on Monday and Tuesday as investors' expectations of a quick government change apparently dimmed.

"The 'regime change' euphoria seems excessive taking into account the unclear legal transition and perhaps, more importantly, the risk that regime change does not allow for policy change," New York-based Jefferies' managing director Siobhan Morden said in a note on the bonds.

(Editing by Daniel Wallis and Eric Beech)

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