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‘Let’s embrace UNGC’s 10 principles’ ISLAMABAD
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AGENCIES
delegation of United Nations Global Compact (UNGC) team led by its President, Mr. Ahsaanullah Khan visited Islamabad Chamber of Commerce & Industry ((ICCI) for explaining the utility of embracing the UNGC principles given by Mr. Kofi Annan, Former UN Secretary General. Haji Muhammad Jawed, Senior Vice President, Fasihul Karim Siddiqui, secretary UNGC, Mr.Majyd Aziz, former President KCCI and other members of UNGC were also present on the occasion. Mr. Ahsaanullah khan said that the ten principles of UNGC should be embraced in work culture for lifting social face of businesses. He said that Pakistani business was operating in most turbulent circumstances and it was necessary for business to come out of this turmoil and attain sustainability by embracing the ten principles of Global Compact which were much closer to the universally accepted principles and teachings of Islam
SECP registers 332 companies in December ISLAMABAD
as envisaged in the holy Quran and the business practices taught by the Holy P r o p h e t (PBUH). Presid e n t
at ICCI on the theme of ‘Sustaining Business by Embracing UNGC Principles for meeting the challenges of a fast
UNGC a l s o showed interest to hold a national conference
changing business world. He urged upon
business community to show their compassion by joining UNGC in large numbers and help the Local Network in achieving the target of 300 members by the end of the year so that a strong and positive message can be sent by Pakistani business to improve their global brand image for attracting responsible business initiatives, new global opportunities and foreign direct investment. Speaking on the occasion, Zafar Bakhtawari, President ICCI supported the ten principles of UN Global Compact, declaring that the business community of Islamabad was practicing most of them as part of their work culture. President ICCI said that business community should be given due respect in the society, adding that trade and industry was under immense pressure owing to the various problems and economic challenges which could be overcome by adopting the principles of UNGC. Mr.Bakhtawari assured full support of Islamabad Chamber for promoting the principles of UN Global Compact which would definitely increase the capacity of our business community to increase the exports of the country.
Call for exemption of industrial, agri sectors from loadshedding LAHORE APP
APP
The Securities and Exchange Commission of Pakistan (SECP) registered 332 companies during December 2012, a growth of 22 percent over corresponding month of 2011. The authorized capital and paid-up capital of these companies amount up to Rs1.7 billion and Rs745 million respectively. The new incorporations during the month include 302 private companies, 17 single-member companies, seven non-profit associations, four public unlisted companies and two foreign companies. Of the two foreign companies, one each belongs to Turkey and Germany, according to official data released here Friday. Foreign investment by nationals from Cyprus, Panama, China, Belgium and Netherlands has been witnessed in five new local companies, it said adding these companies belong to software development, Construction and Services sectors. The trading sector has the largest share in new incorporations with 44 companies, followed by services with 39 companies, tourism with 37, I.T. with 19, Food and Beverages with 15 companies, Broadcasting and Telecasting with 14 companies, Pharmaceutical, Textile and Construction with 13 companies each, Communications and Corporate agricultural farming sectors with 12 companies each. The highest incorporation was witnessed at the Company Registration Office (CRO), Lahore where 108 companies were registered in December 2012. It was followed by CROs Islamabad and Karachi where 98 and 81 companies were registered respectively. The CRO Multan registered 19 companies, CROs Peshawar, Faisalabad and Sukkur registered 11, 10 and three companies respectively, while the Quetta CRO registered two companies. During the month, returns for increase in the authorized capital of 73 companies were accepted, with the total authorized capital increment of Rs.7.24 billion. In addition, 59 companies filed returns for increase in paid-up capital with the total enhancement amounting to Rs5.99 billion.
Saturday, 5 January, 2013
The exemption of industrial and agriculture sectors from gas and power loadshedding is the key factor which can boost economic and agricultural growth as well as national exports. Federation of Pakistan Chamber of Commerce and Industry (FPCCI), apex body of chambers in the country, on Friday urged the government to exempt industrial sector from power/gas load shedding and withdraw increase in fuel prices to strengthen national economy. President FPCCI, Fazal Qadir Sherani,VP SAARC CCI Iftikhar Ali Malik and former LCCI SVP Meher
Kashif Younis,while talking to media,urged that government should accord top priority to industrial and agricultural sectors. They said that uninterrupted provision of gas and power is basic pre-requisite and a “life
line” for industrial and agricultural growth. Iftikhar Ali Malik said that hike in gas,power and petroleum products prices was badly affecting the manufacturers, already hit by gas and power loadshedding.
Oil down on fears over next US budget battles SINGAPORE AGENCIES
Oil prices were down in Asian trade Friday as looming budget battles in the United States weighed on sentiment, analysts said. New York’s main contract, light sweet crude for delivery in February, dropped 75 cents to $92.17 a barrel in the afternoon and Brent North Sea crude for February delivery shed 72 cents to $111.42. Oil prices hit an 11-week high after the US Congress on Wednesday backed an agreement that averted across-theboard tax hikes and automatic spending cuts which could have tipped the economy into recession. However, while the tax problem was addressed, another row is expected as an agreement must be struck within two months to deal with billions of dollars of spending cuts as well as to raise the country’s debt ceiling. On Thursday those concerns were compounded by Fed minutes from last month showing a growing bias towards some policy tightening this year, with some members looking to end the bank’s asset purchases during 2013 and others by the end of the year. “Focus shifted... to the upcoming wrangling US President Barack Obama and Republicans in Congress will face over the budget, which could further stress the world’s biggest economy,” Phillip Futures said in a market commentary. Dutch bank ABN Amro said in a report that politics remains a “risk factor” for energy. “While the aftermath regarding the US fiscal cliff will most likely continue to dominate the news during the coming weeks, other political drivers will be very important for oil prices as well,” it said. “It will be interesting to see whether... Obama can and will keep his promise to promote industries that are crucial to US economic growth and, in this case, the country’s possible energy independence.” The United States is the world’s biggest oil consuming nation and its energy consumption patterns can influence global prices.
European shares edge down ahead of US jobs data European shares inched down on Friday as signs of rising concerns among US Federal Reserve members about the central bank’s quantitative easing program prompted investors to book a portion of recent strong gains PARIS AGENCIES
Investors were also cautious ahead of U.S. non-farm payrolls data for December, due later in the session, despite Thursday’s forecast-beating jobs data for the private sector. At 4:06 a.m. ET, the FTSEurofirst 300 .FTEU3 index of top European shares was down 0.04 percent at 1,162.15 points, retreating from neartwo-year highs hit in the previous session, while the euro zone’s blue chip Euro STOXX 50 .STOXX50E index was down 0.1 percent, at 2,698.16 points. “The market is getting quite ‘overbought’, both U.S. and European stocks, and there’s a risk of a sell-off if the payrolls figures are disappointing,” FXCM analyst Nicolas Cheron said. “A lot of fund managers are being sucked in, buying the market because of fears of missing the rally. We’re set for a correction wave sometime in the next two to three months. It might not start in the short term, but it’s definitely coming.” The FTSEurofirst 300 hit its most “overbought” level in three years this
week, with its 14-day relative strength index (RSI) rising to 72.4, a signal that the market is ripe for a pull-back in the short term. Minutes from the Fed’s December policy meeting released on Thursday showed some voting members of the Federal Open Market Committee were increasingly worried about the potential risks of the Fed’s asset purchases on financial markets. U.S. non-farm payrolls data, due at 8:30 a.m. ET on Friday, is expected to show employers added 150,000 jobs last month. On Thursday, the ADP National Employment Report showed the private sector added 215,000 jobs last month, beating economist forecasts, but FXCM’s Cheron warned it doesn’t necessarily means that Friday’s broader payrolls data will also be better-than-expected. “Despite common belief, the correlation between ADP figures and payrolls data has been pretty low historically,” he said. Analysts at Societe Generale, however, are more bullish, betting on the creation of 225,000 jobs last month, well above the consensus.
“Labor market conditions probably improved substantially in the final month of 2012 ... we expect risky assets to rally intraday due to the positive surprise element,” the analysts wrote in a note. Cyclical mining shares were the top losers on Friday, with Randgold Resources (RRS.L) down 2.9 percent and Lonmin (LMI.L) down 1.5 percent.
Big pharma stocks, seen as defensive plays, gained ground, with GlaxoSmithKline (GSK.L) up 0.4 percent, Novartis (NOVN.VX) up 0.4 percent and AstraZeneca (AZN.L) up 0.2 percent. Around Europe, UK’s FTSE 100 index .FTSE was down 0.1 percent, Germany’s DAX index .GDAXI down 0.1 percent, and France’s CAC 40 .FCHI down 0.2 percent.
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Wall Street firms slightly after jobs, ISM data Stocks firmed slightly on Friday after a key US jobs report showed the pace of hiring by employers had eased slightly in December but gave signals of some momentum in the labor market’s recovery since the 2007-09 recession NEW YORK
D
Major Gainers COMPANY
OPEN
HIGH
Bata (Pak)
1241.50
Pak.Int.Cont. SD Exide (PAK)
CLOSE
CHANGE
TURNOVER
1302.99 1190.00
1297.00
55.50
2,400
200.29
210.30
208.00
210.30
10.01
45,800
270.00
280.00
279.99
280.00
10.00
500
Millat Tractors Ltd. 569.15
588.00
565.00
578.98
9.83
30,300
Mithchells Fruit
375.00
364.99
373.92
8.93
1,600
115.90 114.00 89.21 58.95 171.10
115.90 112.06 89.21 53.73 169.90
115.90 112.06 89.21 53.73 170.06
-6.10 -5.89 -4.69 -2.82 -2.70
1,500 1,300 500 17,000 5,500
14.15 16.01 14.84 6.44 82.90
13.52 15.27 14.30 6.23 81.50
13.79 15.34 14.48 6.35 82.52
0.41 -0.42 0.12 0.08 0.71
12,701,000 11,884,500 6,950,500 4,002,500 3,315,500
364.99
LOW
Major Losers
AGENCIES
ATA from the Institute for Supply Management showed the vast U.S. services sector in December grew at its fastest clip in 10 months, boosted by a rise in new orders. The market’s reaction to both releases was modest. New orders received by U.S. factories were flat in November, missing expectations as demand for aircraft sank sharply, although a gauge of business spending plans gave a positive sign for the economy. Shares of Nasdaq heavyweight Apple Inc (AAPL.O) fell nearly 2 percent, pressuring the tech-heavy index. Adding to concerns about the iPhone maker’s ability to produce more innovative products going forward, rival Samsung Electronics Co Ltd (005930.KS) is expected to widen its lead over Apple in global smartphone sales this year with 35 percent growth, propped up by a broad product lineup, according to market researcher Strategy Analytics. The Dow Jones industrial average .DJI was up 7.79 points, or 0.06 percent, at 13,399.15. The Standard & Poor’s 500 Index .SPX was up 1.95 points, or 0.13 percent, at 1,461.32. The Nasdaq Composite Index .IXIC was down 6.50 points, or 0.21 percent, at 3,094.06. Though the jobs data showed lackluster economic growth was unable to make a dent in the still-high U.S. unemployment rate, it calmed fears about the possibility of the U.S. Federal Reserve ending its highly stimulative monetary policy. Concerns about the endurance of the Fed’s
Business 02
Blessed Tex. J.D.W.Sugar Premier Suger Mills Grays of Cambridge ICI Pakistan Ltd.
122.00 117.95 93.90 56.55 172.76
Volume Leaders Byco Petroleum Jah.Sidd. Co. Maple Leaf Cement Fauji Cement United Bank stimulus program prompted investors to pull back from the market Thursday after a two-day rally. According to the Labor Department, payrolls outside the farming sector grew 155,000 last month, as expected and slightly below the level for November. Gains in employment were distributed broadly throughout the economy, from manufacturing and construction to health care. Minutes from the Fed’s December policy meeting, released Thursday, showed Fed officials were increasingly worried about the risks of asset purchases on financial markets, though they looked set to continue with the open-ended stimulus program for now. Some policymakers thought asset buying should be slowed or stopped before the end of 2013 while others highlighted the need for further stimulus. The Fed’s policy of easy credit has helped push the S&P 500 to a 13.4 percent gain in 2012.
Ending that policy would remove an incentive for investors to purchase riskier assets like stocks. Apple shares were down nearly 2 percent at $532.27 in morning trade. The stock has been on a downward trend over the past few months on concerns about demand for the iPhone 5 and the company’s capability to produce more innovation products in the future. Pharmaceuticals maker Eli Lilly and Co. (LLY.N) said on Friday it expects 2013 earnings to increase to $3.75 to $3.90 per share excluding items from $3.30 to $3.40 per share in 2012. The stock rose 2.5 percent to $50.94. Mosaic Co (MOS.N) reported that its quarterly operating profit fell 30 percent as international distributors delayed buying potash and phosphate to avert the price risk associated with the fertilizer producer’s negotiations with China and India. The stock rose 1.5 percent to $57.62.
13.38 15.76 14.36 6.27 81.81
Interbank Rates US Dollar UK Pound Japanese Yen Euro
97.4129 158.0135 1.1176 128.0590
Dollar East BUY US Dollar Euro Great Britain Pound Japanese Yen Canadian Dollar Hong Kong Dollar UAE Dirham Saudi Riyal Australian Dollar
97.70 126.90 156.58 1.1113 97.91 12.33 26.45 25.95 101.49
SELL 98.40 128.97 159.08 1.1283 100.12 12.64 26.83 26.28 104.60
CORPORATE CORNER with innovation and design, making the best digital imaging technology available to everyone without compromising on style. The NX300 builds even further on this illustrious heritage. Not only does it deliver incredible speed and accuracy through advanced photographic features, but it is truly built around the user, with upgraded SMART Camera functions making shooting and sharing both easy and seamless. We are also very proud to introduce the first one-lens 3D system alongside the NX300, opening up a whole new world of 3D photography and video recording for consumers everywhere.”
PTCL introduces Broadband economy package
RB takes ‘Healthier kids, happier world’ mission into remote areas
KARACHI: Reckitt Benckiser Pakistan launched a school upgrade program to revamp underprivileged schools in the remote regions across Pakistan as part of their community service program “ Healthier kids, Happier world “ . The program was launched with the renovation of an underprivileged school in Lakot, a small village near Islamabad. RB employees were personally engaged in painting walls and furnishing the classrooms with new desks and bookshelves. Trainings in communication skills and hygiene awareness were imparted to the school’s faculty. In light of the RB mission to build a happier world through raising health standards for children everywhere, the children were given interactive presentations on the importance of hygiene awareness and upkeep. On the occasion, Reckitt Benckiser Pakistan’s CEO Mr. Tahir Malik donated a check of Rs 4.6 Million to Save the Children’s Pakistan Chapter. Speaking on the occasion, Mr Malik underscored the importance of this campaign to the company. “ Our company’s vision is a world where people have healthier lives and happier homes and our Community program of “ Healthier Kids, Happier world” is a way to give back to the children of Pakistan”. The
preliminary portion of the program will provide essential educational supplies such as books, stationary, art supplies and furniture to adopted schools. Reckitt Benckiser (RB) is a global consumer goods leader in health, hygiene and home. The company has operations in over 60 countries, with headquarters in the United Kingdom.
ISLAMABAD: Pakistan Telecommunications Company Limited (PTC) has now introduced ‘Broadband Economy’ package which offers fast and cost-effective Internet connectivity for its valued customers. As Pakistan’s fastest and most affordable Broadband service, PTCL’s Broadband Pakistan offers seamless Internet experience, uninterrupted streaming and fastest downloading speeds. It provides access to rich high-definition multimedia resources over the Internet enabling customers to download latest movies, TV shows and music files. The new economy package enables customers to experience PTCL Broadband Internet for only Rs 499 per month inclusive of downloads up to 10 GB. For downloads above 10 GB, Rs 100 per GB will be charged, while after 20 GB, the package will become unlimited. Customers who wish to downgrade from Standard 1Mbps and above packages will be charged a onetime fee of Rs.1,500.
Wazir Ali Khoja felicitates Pakistan cricket team
KARACHI: Senior member of the Board of Governors’ of Pakistan Cricket Board, and M.D NIT,. Wazir Ali Khoja has sent a message of felicitation to Pakistan’s captain and team member for their outstanding performance in TWO ODI matches against India, in India, in front of a constant roar of more than 80 thousand crowd, cheering for their home team. Khoja has appreciated the fine blending of experienced and young players in the team to shape up a future Pakistan cricket team. He said, our team has out classed Indian team in all departments of the game. Khoja said, these victories will help the team a lot in their forth coming South African Tour. He has also applauded the efforts of Chairman PCB for making this event possible with his fine negotiating skills. Khoja further said that it is a good chance to test rest of the players of the squad in the third and final ODI at New Delhi to gauge their cricketing talent.
Samsung NX300 combines speed, performance and connectivity KARACHI: Samsung Electronics Co., Ltd, a global leader in digital media and convergence technologies, today announced the launch of the NX300, the new flagship model in its successful NX series. The NX300 once again raises the bar for compact system cameras (CSC), delivering an outstanding combination of features, functionality and style for perfect shooting in every moment. Samsung also announced the new NX 45mm F1.8 2D/3D lens, the first one-lens 3D system capable of capturing both still images and full HD movies in perfect 3D quality. Myoung Sup Han, Senior Vice President and Head of the Digital Imaging Business, Samsung Electronics, commented: “Since its launch in 2010, the Samsung NX System has become synonymous
ISLAMABAD: Bilal Mustafa Managing Director Bank of Khyber (BoK) and Sheharyaruddin Additional Director General (Operations) Post Government of Pakistan signing MoU for financial facilitations to the employees of Pakistan Post at Pakistan Post headquarter Islamabad.
Saturday, 5 January, 2013