International Karachi, Saturday, October 9, 2010, Shawwal 29, Price Rs12 Pages 12
Mend Siachen Sir Creek, fences first, says Musharraf See on Page 12
$16.99bn 12.79% $5.18bn $9.03bn $(3.85)bn $(944)mn $1.72bn $267.10mn Rs 185bn $55.63bn Foreign Debt (Jun 10) Rs 4705.40bn Domestic Debt (Jul 10) $100.90mn Repatriated Profit (Jul- Aug 10) 3.05% LSM Growth (Jul 10) 4.10% GDP Growth FY10E $1,051 Per Capita Income FY10 170.74mn Population
Forex Reserves (1-Oct-10) Inflation CPI% (Jul 10-Aug 10) Exports (Jul 10-Sep 10) Imports (Jul 10-Sep 10) Trade Balance (Jul 10-Sep 10) Current A/C (Jul 10- Aug10) Remittances (Jul 10-Aug 10) Foreign Invest (Jul 10-Aug10) Revenue (Jul 10-Aug10)
SCRA(U.S $ in million)
Total Portfolio Invest (1 Oct-2010)
NCCPL (U.S $ in million)
FIPI (06-Oct-2010) Local Companies (06-Oct-2010) Banks / DFI (06-Oct-2010) Mutual Funds (06-Oct-2010) NBFC (06-Oct-2010) Local Investors (06-Oct-2010) Other Organization (06-Oct-2010)
0.38 -0.94 0.12 -0.29 0.23 0.71 -0.21
Global Indices Index Close KSE 100 10,260.48 Nikkei 225 9,588.88 Hang Seng 22,944.18 Sensex 30 20,250.26 ADX 2,685.30 SSE COMP. 2,738.74 FTSE 100 5,657.61 *Dow Jones 10,996.37 *Last Updated 20:00 PST
Change 68.80 95.93 59.86 65.06 7.77 83.08 4.52 47.79
GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)
$.Price PKR/Shares 2.60 111.41 18.10 155.12 2.00 42.85 1.70 36.42 9.67 33.15
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
12.83% 13.07% 13.22% 13.50% 12.89% 13.02% 13.22% 13.61% 13.71% 13.83% 13.92% 13.99% 14.23% 14.38% 14.58%
06-Oct-2010 06-Oct-2010 06-Oct-2010 29-Sep-2010 08-Oct-2010 08-Oct-2010 08-Oct-2010 08-Oct-2010 08-Oct-2010 08-Oct-2010 08-Oct-2010 08-Oct-2010 08-Oct-2010 08-Oct-2010 08-Oct-2010
Commodities *Crude Oil (brent)$/bbl 83.90 *Crude Oil (WTI)$/bbl 82.38 *Cotton $/lb 107.75 *Gold $/ozs 1,345.60 *Silver $/ozs 23.10 Malaysian Palm $ 901.30 GOLD (NCEL) PKR 36,839 KHI Cotton 40Kg PKR 7,502 *Last Updated 20:00 PST Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)
Australian $ 84.50 Canadian $ 84.20 Danish Krone 15.30 Euro 118.60 Hong Kong $ 11.00 Japanese Yen 1.018 Saudi Riyal 22.85 Singapore $ 64.95 Swedish Korona 12.80 Swiss Franc 88.35 U.A.E Dirham 23.30 UK Pound 135.00 US $ 86.20
85.00 84.50 15.50 119.00 11.30 1.044 23.00 65.10 13.20 89.20 23.50 136.00 86.50
Inter-Bank Currency Rates Symbols
Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $
Buying TT Clean
Selling TT & OD
84.33 84.32 16.04 119.56 11.04 1.031 22.84 65.57 12.86 88.67 23.32 136.15 85.70
84.52 84.51 16.07 119.84 11.07 1.033 22.89 65.72 12.89 88.88 23.37 136.47 85.88
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See on Page 12 See on Page 11
Quest on for firm edible oil policy
Portfolio Investment 46.01 -3.21 0.15 2353
See on Page 10 See on Page 12
President urges farmers to waive Haris’ loans in Sindh
Economic Indicators
Yearly(Jul, 2010 up to 07-Oct-2010) Monthly(Oct, 2010 up to 07-Oct-2010) Daily (07-Oct-2010)
Inside Misbah-ul-Haq to lead Pakistan in SA Test series Army board to probe alleged civilian slaying Nobel Peace Prize for prisoned Chinese Mosque bomb kills Afghan governor
RAWALPINDI: Joint Services guard presenting guard of honour to new Chairman Joint Chiefs of Staff Committee, General Khalid Shameem Wynne. -Online
Taxpayers on the rise: Hina ISLAMABAD: Minister of State for Finance, Revenue and Economic Affairs Hina Rabbani Khar Friday told National Assembly that number of taxpayers in the country is increasing gradually and that efforts are on to bring non-taxpayers under the net as well. "I would differ that number of taxpayers is on decrease. According to the data, the number of taxpayers recorded in 2009 was 2.3 million against 1.1 million in 2005," said Hina Rabbani Khar replying to a calling attention notice. She brushed aside the impression that salaried class is the only major con-
tributor to the tax net saying other sectors including corporate, importers, exporters and non-salaried class are too among the big contributors. The state minister said the share of salaried class in tax net is decreasing as under the Finance Bill, the government had exempted the employees earning up to 300,000/annum from tax payment. Abdur Rashid Godil, the mover, expressed concern that of 180 million population, only 1.9 million pay taxes to what the state minister said the government too admits that ratio is minimal. See # 3 Page 11
Trade deficit fats 22.3pc in 1QFY11 Staff Reporter KARACHI: Pakistan's trade deficit increased by 22.3 per cent to reach $3.85 billion in the first quarter (July-Sept) of the current fiscal year 2010-11 compared with $3.15 billion in the same period last financial year (2009-10), Federal Bureau of Statistics reported Friday. According to the figures, exports were at $5.18 billion in the first three months of FY11 as against $4.43 billion in the same period last fiscal, a hike of 16.7 per cent. Imports in
the period under review rose by 19.02 per cent to reach $9.03 billion compared with $7.58 billion in 1QFY10. Monthly comparison showed that September 2010 trade deficit rose sharply by about 27.41 per cent to reach $1.16 billion compared with $0.91 billion in the same month last year. Deficit ballooned as import bill swelled by 14.93 per cent to $2.78 billion in September 2010 against $2.42 billion in the same month last year. However, exports grew See # 4 Page 11
Chile to mine B’stan copper, invest $4 billion I S L A M A B A D : Ambassador Fernando Schmidt Ariztia, Foreign Secretary of Chile Friday said his government was looking forward to finalise its investment in the exploitation in Balochistan copper where their firm Antofagasta would invest close to $4 billion. He said the project would turn into a symbol of growing Pakistan-Chile relations and open up new vistas for bilateral cooper-
ation. He stated this while talking to Foreign Secretary Salman Bashir here. The Chilean Foreign Secretary, who is currently on a visit to Pakistan, met with Foreign Secretary Salman Bashir and discussed issues of common concern. The Ambassador of Chile to Pakistan,Luis Palma (resident in Tehran) was also present in the See # 5 Page 11
5.8pc rise in Sui & Kandhkot gas prices
Wellhead gas goes expensive Staff Reporter KARACHI: The revised wellhead gas prices for the 1st half of FY11 of most of the fields have recently been notified by Oil and Gas Regulatory Authority (OGRA). Ogra has revised the
prices on semi-annually basis. Prices of most of the fields have seen an upward revision up to 5.8 per cent mainly due to rupee depreciation and hike in global oil prices. The average price of Arab Light surged by See # 9 Page 11
Don’t air N-secrets, court tells Dr AQ Khan
Call for zero interest loans to flood-hit farmers Staff Reporter
jobs and revitalise overall economic activity", he said. The President all said this during an interactive session with other bearers, members of the Sindh Chamber of Agriculture and the Sindh Abadgar Board held in Bilawal House to brainstorm measures for rehabilitation of crops destroyed during floods. The meeting was attended by CM Sindh Syed Qaim Ali Shah, Federal Minister for Food and Agriculture Nazar Gondal, provincial ministers and senior government officials. Briefing journalists, spokesperson to the President Farhatullah Babar said that the President has also asked the government to prepare a package
of incentives for the farmers to grow sunflower for indigenous production of edible oil. The meeting was informed that Kacha areas and uplands of irrigated areas can be vacated early for sowing Rabi wheat crop. However, in lowlands which cannot be vacated early the sowing of sunflower was the best option. The President also advised the government to consider the proposal of giving interest free loan of Rs10,000 per acre to the worst-hit farmers for a period of ten years. At the same time he asked the farmers to consider waiving the loans of Haris to enable them return to their homes and work See # 10 Page 11
KARACHI: President Asif Ali Zardari Friday asked the government to formulate a firm edible oil policy so as to eliminate dependence on imported oil as soon as possible. "The current edible oil import bill of $1.5 billion a year is constantly LAHORE: The Lahore rising making it critical for us to proHigh Court Friday duce indigenous edible oil which ordered nuclear scientist will also generate thousands of new Dr Abdul Qadeer Khan Sharif has no objection to Deedar Hussain's appointment, claims Dr Awan not to give any statements about atomic programme and integrity of the country. As per details an appli- ISLAMABAD: The federal govern- Yousuf Raza Gilani approval has been be appointed as chairman. However cation was filed by Dr ment has appointed Justice (Retd) accorded for appointing Justice the senior government officials could Khan, challenging Deedar Hussain Shah as Chairman (Retd) Deedar Hussain Shah as NAB not agree on this and the summary of restrictions on his move- National Accountability Bureau chairman despite the fact that PML-N Shah's appointment was re-sent to PM had objected over his appointment who accorded approval after taking ment imposed by the despite PML-N objection. According to Law Ministry sources, and had suggested that Justice (Retd) President Asif Ali Zardari into government. The court See # 2 Page 11 was informed by the after consultation with Prime Minister Sardar Raza Mohammad Khan should government that Dr Khan met 216 persons and underwent medical examinations 56 times during last two months. According to media reports, LHC however allowed Dr Khan to visit his relatives and friends, forbidding him to give any statement regarding t h e See # 8 Page 11
PPP loyalist to chair NAB; ‘N’ uncheerful
LPG cos fleece hard while Ogra sleeps on job ISLAMABAD: The government Friday admitted that negligence on part of Oil and Gas Regulatory Authority (OGRA) was encouraging LPG marketing companies to overcharge. Advisor to the Prime Minister Ghzanfar Ali Gul told the National Assembly that Ogra officials failed to satisfy him during a briefing on the subject. "I have sought a meeting with the prime minister to discuss the issue with him." He said Ogra claimed that LPG was being sold at Rs87 per kilogram whereas it is actually being traded for Rs91120/kg in retail market. "In the far flung areas it is even being sold at Rs150 See # 6 Page 11
TCP further auctions 25,200 MT sugar in mkt Staff Reporter KARACHI: Trading Corporation of Pakistan (TCP) Friday through its 2nd tender sold 25,200 MT imported sugar through auction in the open market at prices ranging between Rs65,500 PMT to Rs59,070 PMT on exgodown basis. According to a notice issued here, TCP in See # 7 Page 11
2 Govt devoted for relief & rehab of affectees: PM ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani has reiterated the commitment of his Government for the reconstruction and rehabilitation of the affectees in all parts of the country including the victims of the devastating earthquake of 2005. The continuity of the democratic process, he added, is a prerequisite to face all the grave challenges confronting our country. The Prime Minister expressed these views during his meetings with Federal Minister for Petroleum & Natural Resources Syed Naveed Qamar, Minister for Water & Power Raja Pervaiz Ashraf, Minister for Population Welfare Firdous Aashiq Awan, Minister for Religious Affairs Hamid Saeed Kazmi and MNAs Jamshed Dasti and Sheikh Aftab, Chief Whip
One suicide bomber identified KARACHI: One of the two suicide bombers, (later identified as) Naseebullah, who bombed the shrine of Hazrat Abdullah Shah Ghazi, was identified when his father and some relatives arrived at Jinnah Hospital to claim his dead body. The plainclothesmen arrested one Aminullah, of Dir, who while introducing himself as father of one of two killed suicide bombers, Naseebullah, demanded his dead body. Aminullah was temporarily residing in Pakhtoonabad area of Karachi, while CID police also arrested accompanying four persons and a woman, shifting them all to an unknown place for further interrogation.-Online
PML(N), who called on him separately at his chamber in Parliament House. The Prime Minister urged upon the Minister for Religious Affairs to improve the Hajj arrangements for the pilgrims. The Minister apprised the Prime Minister of details of the report of Hiring Review Committee regarding establishment of Directorate of Hajj in Saudi Arabia. The Prime Minister asked the Minister for Population Welfare to prioritize the projects of her Ministry in line with the upcoming phases of Reconstruction& Rehabilitation. She apprised the Prime Minister of various projects taken up by her Ministry in flood ravaged areas. The Prime Minister observed that our country is facing shortage of power; He said, we need
to work on the power sharing formula till the energy projects start their production. He directed the Minister for Water & Power to make arrangements on war footings for the restoration of power supply lines in flood affected areas. He also asked Minister for Petroleum & Natural Resources to ensure the uninterrupted supply of fuel to the power plants. The Prime Minister said that his Government is committed to the Charter of Democracy (COD) and has implemented 80% of the decisions of COD. He further added that he will continue his policy of reconciliation for the sustainability of the democratic process. He urged upon the MNAs to focus on the rehabilitation work .The MNAs apprised the Prime Minister of various development projects in their constituencies.Online
EU suspend duties of 75 export products KARACHI: President Karachi Chamber of Commerce and Industry, Muhammad Saeed Shafiq and other leaders of KCCI have welcomed the initiative of European Union to suspend duties of 75 of Pakistan's export goods including leather, textile and agriculture goods for a period of three years. KCCI President, Senior Vice- President KCCI Talat Mahmood and Vice President KCCI Junaid Esmail Makda, in a joint statement here on Friday, said the trade concessions are an appreciating move and it is the result of the Government's sincere efforts. But, the business
community of Pakistan expects more from EU in a bid to lend support to the flood-hit economy. Pakistan deserves the special treatment that regional competitors enjoy, they said. KCCI has persistently been pursuing the theory that Pakistan wants trade not aid. This move is a beginning which will help increase exports and employment. The Government had given a list of around 200 items to the EU initially, but only 75 items were cleared. This would help increase our exports in a little amount. We hope the list would be expanded.-APP
IMC, WWF start nature Obituary awareness drive
Elder brother of Aziz Memon, Former Director Information expired on 8-10-2010 in Larkana due to prolonged illness. May his soul rest in peace.
TV PROGRAMMES SATURDAY Time Programmes
7:00 News 8:00 News 9:05 Best of Subah Savere 11:10 Mohaaz (F) 12:00 News 13:10 Newsbeat (Rpt) 14:10 Awam Ki Awaz 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Taxi News 20:05 The Anchor 21:00 News 22:05 Manzil 23:03 Faisla Aap Ka
KARACHI: WWF Pakistan and Indus Motor Company (IMC) today announced the launch of the 'Toyota School Environment Program' at a local hotel. The purpose of this program is to engage school students and teachers in a structured annual awareness program to foster a sense of individual responsibility and accountability in future generations towards nature conservation. IMC CEO, Parvez Ghias, and Director Operations WWF Pakistan, Anwar Nasim, formally launched the program by signing the partnership documents.
Karachi mourns suicide blasts KARACHI: After twin blasts in Karachi on Thursday, sense of mourning prevailed on Friday as trade centers, shops, petrol pumps and schools remain shut down while riots at some places have been recorded. After twin blasts at mausoleum of Shah Abdullah Shah Ghazi complete shutter down gripped the area on Friday while series of firing continued in Shah Faisal colony, New Karachi, Landhi, Rashid Minhas road and Nazimabad road. Some unknown people pelted stones at vehicles in Gulistan Johar, Gulshan Iqbal, Abulhassan Asfahani road and Malir. The heavy contingent of police and rangers was called to control the deteriorating law and order situation in metropolitan. The police have started patrolling and arrested several people on charge of creating riots. The security has been beefed up to tackle any untoward situation.Online
KARACHI: Activist shouting slogans against the attack on the shrine of Hazrat Abdullah Shah Ghazi during a demonstration in Karachi.-Online
Pak will continue to support Kashmiris I S L A M A B A D : Parliamentary Kashmir Committee met Friday to discuss the Kashmir issue with the All Parties Hurriyet Conference (AJK - Chapter) and reiterated support to the just struggle of Kashmiris for their right to self-determination. The meeting was presided over by Maulana Fazlur Rahman, Chairman Kashmir Committee and attended by Qamar Zaman
Kaira, Federal Minister for Information and Broadcasting and senior Officers of the Foreign Office. 28 member delegation of Hurriyet Conference, comprising both factions of the Conference, were present. Leaders of different Kashmiri political parties conveyed the message of their leaders from Srinagar to the Kashmir Committee. They urged
ISLAMABAD: Group photo of Chairperson CCP, Rahat Kaunain Hassan and Chairman PEMRA Mushtaq Malik at PEMRA headquarters.-PR
UK envoy decries suicide attack
CCP, Pemra unite for a tidy media
KARACHI: Robert Gibson - British Deputy High Commissioner, Karachi has strongly condemned the suicide attacks that left 8 people dead and 65 injured at the Abdullah Shah Ghazi shrine in Karachi. "I was saddened by the attacks in Karachi yesterday and condemn them unreservedly. Our immediate thoughts are with the families and friends of those killed or injured. This was a horrific and indiscriminate incident, which has claimed many innocent lives", Gibson said.-PR
ISLAMABAD: The Competition Commission of Pakistan (CCP) and the Pakistan Electronic Media Regulatory Authority (PEMRA) vowed to join hands to promote healthy competition in the private electronic media and to take steps to curb deceptive marketing practices being propagated through media. This was discussed in a meeting between the Chairperson, CCP, Rahat Kaunain Hassan and the Chairman PEMRA, Mushtaq Malik, at the
Program details were shared with the media through a presentation followed by a Q&A session. "IMC is not just a car manufacturer, it is aware of the contribution it needs to make to improve society at large", said Ghias. "In line with our 'Concern Beyond Cars' philosophy, we have launched several social projects and initiatives regarding road safety, education, environment, health, community development and response to natural calamities. This collaboration would be a part of our mandates and of mutual benefit to both our environmental endeavors.-PR LAHORE: Netherlands has offered up to 60 per cent of funding to Pakistani projects (SMEs) having a maximum cost of 1.5 million Euros. The offer was renewed by Ahmad Dodou, head of Economic Affairs of Embassy of the Netherlands and Paul issued here on Friday. while It quoted Dr Hilal as Schoenmakers saying that "Our employ- speaking at the Lahore ees in Saudi Arabia have Chamber of commerce and voluntarily contributed Industry. LCCI Senior their 3 days' salary so that Vice President Sheikh the flood survivors may go Mohammad Arshad, forback to their homes and mer President Shahid start their lives once Hassan Sheikh, former Senior Vice President again." The initial plan is to take Sohail Lashari also spoke responsibility of an entire on the occasion. The officials informed village and rebuild the homes destroyed by the the LCCI office-bearers flood and provide the that the Private Sector flood survivors with the Investment (PSI) program basic necessities of life. of the Netherlands govern-
ATH commits Rs10mn more for victims KARACHI: Al Tuwairqi Holding (ATH) of the Kingdom of Saudi Arabia, the parent company of Tuwairqi Steel Mills Limited (TSML), has pledged an additional contribution of Rs 10 million in order to undertake rehabilitation activities for the flood affected areas of Pakistan. This was announced by Chairman, Al-Tuwairqi Holding Dr Hilal Hussain Al-Tuwairqi, in a message, said a statement
Saturday, October 9, 2010
PEMRA headquarters on friday. The meeting was also attended by Member CCP, Vadiyya Khalil, Director General CCP, Ikram-ul-Haque Qureshi and Director General PEMRA, Abdul Basit Khan. Heads of the CCP and PEMRA expressed their unequivocal resolve to cooperate and coordinate in the areas of mutual concern and to exchange information regarding anti-competitive and deceptive marketing practices.-PR
Netherlands to support SMEs in Pak ment, open in Pakistan since 2005 with an annual budget of 70 million Euros, is aimed at alleviating poverty and strengthening private sector investment. They said that the funding, available under 40-60 arrangement, is subject to certain evaluation to be conducted by the Holland government officials. Any Pakistan company can apply for the funding for any new project or for the value addition of an existing business project. Under this program, one project in Sports wear in Pakistan has already been completed; three projects in Chemical Industry and Dairy sector are in progress while another three are under consideration.
The total funding of 1.5 million euros allows spending on Hardware (equipment, machinery), Training of people and Project management. Real estate and operational costs excluded. The funds are released during the project, after achieving predefined results. The Evaluation criteria include Partner Expertise, organizational capacity and financial strength. The projects could be a business plan, operational plan or financial feasibility. Fulfillment of Corporate Social Responsibility, knowledge transfer and its spin off effects are few things that are a necessary part of evaluation criteria. The Netherlands issues three tenders per year.-PR
Pakistan to evolve a strong Kashmir policy as the wavering stand of various governments in Pakistan on the issue has weakened the Kashmir cause. They said Kashmiris don't want to remain with India. They just need the moral and diplomatic support of Pakistan. They also asserted that Pakistan was not sending militants to the occupied Kashmir, because they
don't need them, adding that those who claim that Pakistan is training Kashmiri militants say such things to advance their own interests. The Kashmir Committee reiterated that Pakistan would continue its moral, political and diplomatic support to the Kashmiris for their just struggle for the right of self-determination, as was done in the past.-APP
3 Saturday, October 9, 2010
Dollar down against yen on unexpected drop in US payrolls Fed's Bullard earlier says more easing not obvious case NEW YORK: The US dollar slid to a 15-year low below 82 against the Japanese yen on Friday after a report showed an unexpected drop in US payrolls in September. The report bolstered the expectation for further asset purchases from the US Federal Reserve and the reaction against the yen was immediate, with the dollar falling to a low of 81.72 yen on electronic trading platform EBS. The dollar also fell sharply against the euro on the jobs data, but it later recovered some of those losses after Eurogroup Chairman JeanClaude Juncker said he was not happy with the euro's move to $1.4000, a level surpassed on Thursday. "The overall change (in payrolls) is really bad and is prob-
ably enough to convince the Fed to engage in quantitative easing," said Mark McCormick, currency strategist at Brown Brothers Harriman in New York. "Most
Bank of Japan to weaken the yen, given it is trading at levels stronger than the 82.87 level where the central bank stepped in on Sept 15. Japanese Prime Minister
are pricing in some $500 billion of easing, and I don't think this really changes that. I think the Fed still intervenes." The dollar was last at 81.82 yen on electronic trading platform EBS, down 0.6 per cent on the day. Investors remained on full alert for intervention by the
Naoto Kan said Japan would take decisive steps on the strong yen if needed, but added that it also wanted to cooperate with the G7 and other countries. Investors are also wary in case the G7 and IMF meetings starting in Washington on Friday produce a surprise in the form of a coordinated front
Asian currencies
Won, baht lead Asian consolidation BANGKOK: The Thai baht and South Korean won led a mild consolidation in Asian currencies on Friday after recent sharp gains, but the Chinese yuan jumped when trade resumed after a weeklong holiday. The South Korean won recovered most of its early losses, supported by exporter demand for settlements and the rise in the yuan. Caution remained over further official intervention. The won was quoted at 1,120.7 per dollar, down 0.55 per cent from its previous domestic close of 1,114.5. It weakened earlier to 1,124.0 as
investors covered short dollar positions. "A preference for short dollar positions increased on the yuan and as exporters were already lined up around 1,120," said a Seoul-based foreign bank dealer. Foreign investors turned sellers on the local stock market, unloading a net 103.2 billion won of stocks. South Korea's top financial regulator has asked banks to refrain from foreign currency lending, a senior official said. The Thai baht shed half a per cent in lacklustre trade, tracking a broad Asian consolidation as markets wait for US payroll data late on Friday and ahead
of a US market holiday on Monday. It dipped further after the prime minister said unspecified baht measures would be put to the cabinet next week. Dollar/baht hit 30.11 after the comments against 29.85 late on Thursday. The baht has appreciated around 3 per cent in the past month and 11 per cent this year, making it the second-strongest Asian currency after the yen. The Malaysian ringgit dipped 0.60 per cent to 3.1075 per dollar by early afternoon on interbank dollar covering. Traders said markets barely reacted to the yuan's record high fixing against the dollar. -Reuters
Sterling helped by US jobs, UK PPI data
Taiwan $ off 27-mth closing high
LONDON: Sterling rose to near eight-month highs against the dollar on Friday as a selloff in the US dollar picked up after weak US payrolls backed market views that the Federal Reserve would ease monetary policy further. It also made gains against the euro, reversing losses after Eurogroup Chairman JeanClaude Juncker said the euro
day. It had earlier slipped to a low of $1.5824, having hit an eight-month high on Thursday at $1.6019. US payrolls data showed the world's largest economy shed 95,000 jobs in September and private hiring slowed, and bolstered expectations that the Fed would launch another round of quantitative easing as early as November.
was too strong. "The weak US numbers saw the yen, euro and sterling all rise against the dollar," said Mark Oswald, FX and rates strategist at Monument Securities. "But the pound will struggle as risks of quantitative easing will weigh and once investors are done with selling the US dollar they could turn to sterling." By 1512 GMT, the pound recovered from early losses against the dollar to trade at $1.5940, up 0.4 per cent for the
The pound was also helped by above-forecast UK producer price data which somewhat reduced expectations the Bank of England will need to pump more cash in the near term. "At the margin, the producer price data make the (Bank of England Monetary Policy Committee) more reluctant to revive quantitative easing in the near term at least, although the key factor on this will be just how much growth slows," said Howard Archer, Chief European Economist at IHS Global Insight. -Reuters
TAIPEI: The Taiwan dollar retreated from a 27-month closing high on Friday on suspected central bank intervention that pulled it back from earlier higher levels. Taiwan's central bank has intervened in recent sessions, mostly in late trading, to keep the currency in a managed flow, as a surge in the Taiwan dollar threatens to hurt the island's export-driven economy. It also has stepped up verbal warning. "It seems the central bank is very determined to keep the Taiwan dollar at around T$31, but it does not have to go as far as imposing capital controls," said a dealer at a local bank. The Taiwan dollar ended T$0.053 lower at T$31.095 to the US dollar, before trading as high as T$30.739 in the session. It hit a 27-month closing high on Thursday. Like emerging market currencies globally, the Taiwan dollar has risen sharply recently as cash, created by developed economies seeking a way out of recession, moves to the higher growth and yield opportunities of emerging markets.-Reuters
Aussie camped near 28-yr highs; RBA unbothered SYDNEY/WELLINGTON: The Australian and New Zealand dollars pulled back from dizzying heights on Friday as investors took profits ahead of what could be a crucial US jobs report for the prospect of monetary easing there. The Australian dollar backed off to $0.9826, having climbed to a 28-year peak of $0.9920 on Thursday as the US currency slid across the board. Near-term support was put at $0.9750, while resistance was around $0.9918 and $0.9939. Remarks from Reserve Bank of Australia Deputy Governor Ric Battellino about how Australian rates needed to go higher and that the bank was sanguine on the Australian dollar's rally gave the Aussie a brief boost. In a world where many central banks are racing to depreciate their currencies, some thought the RBA's stance on a strong Australian dollar meant it was one of the few major currencies around that is free to rise. "Battellino's comments on the Aussie were a welcome change from global rhetoric heading into the G20 meeting, saying that we will just
have to get use to a strong Aussie," said Sue Trinh, a strategist at RBC. Indeed, the currency has had a spectacular rise in the past month. It has rallied 10 per cent since the start of September against the US dollar, and hit a 25-year peak against sterling. But the overall decline in the Aussie on Friday helped sterling to recover a touch to A$1.6188, from a Thursday's 25-year trough of A$1.6023. The New Zealand dollar was at $0.7542, about half a cent above session lows but away from a near 12-month high of $0.7598 hit in offshore trade. The kiwi drifted down in the local session as investors booked profits ahead of the payrolls data, before getting a boost late in the day from Moody's saying China's rating could be upgraded and upbeat comments from the RBA. Key resistance for the kiwi was seen around the October 2009 highs of $0.7640, a break of which would put the kiwi at levels last seen in July 2008. The Aussie was firm against the kiwi but away from recent peaks at about NZ$1.3050. -Reuters
on currencies, as calls have mounted for global efforts to avoid competitive currency devaluations. The euro was last little changed against the dollar at $1.3930 on EBS. The euro exchange rate against the dollar is too strong at $1.40, as the dollar does not reflect the economic fundamentals of the United States, Juncker said on Friday ahead of the meeting of finance ministers and central bankers of the Group of Seven most industrialized countries. The dollar index, a non-traded calculation of the dollar's performance against a basket of six other major currencies, was down 0.2 per cent at 77.250, though above an 8-1/2 month low of 76.906 touched on Thursday. -Reuters
Swiss franc hits 8-wk low vs euro ZURICH: The Swiss franc fell to its lowest in eight weeks against the euro and was set for more losses, after the European Central Bank kept its key rate unchanged and said money markets were beginning to function more normally. The franc was down 0.2 per cent against the euro compared to the New York close, trading at 1.3471 per euro at 0706 GMT, off an intra-day low that was its weakest since Aug 13. The franc was also slightly weaker against the dollar at 0.9669 per dollar, well off the record it hit at 0.9552 hit on Thursday. Traders said the US unemployment report due later in the session was the next key event for currency markets. Many market players are expecting fresh quantitative easing measures by the Federal Reserve to shore up the sluggish US economy, which would keep the greenback under pressure. -Reuters
Spot yuan ends at post-revaluation high SHANGHAI: Spot yuan on Friday ended at its highest closing level against the dollar since a landmark revaluation in July 2005, supported by strong expectations of a further strengthening of the Chinese currency amid mounting political pressure. In addition to demands from the United States on China for a stronger yuan, European Commission officials said on Thursday that the European Union would keep pressing China to revalue the yuan. The head of the International Monetary Fund, Dominique Strauss Kahn, also told the Le Monde newspaper that China should accelerate the appreciation of the yuan as the undervaluation of the yuan was now the source of tensions in the world economy. Indeed, Yi Gang, a deputy governor of the People's Bank of China (PBOC), was quoted as saying on Friday that China would continue to reform its exchange rate regime but a sharp rise in the yuan would
harm its economy. Yi echoed comments by Chinese Premier Wen Jiabao on Wednesday that a rapid appreciation of the yuan could unleash social turmoil. The yuan ended at a postrevaluation closing high of 6.6706 against the dollar, near its post-revaluation intraday high of 6.6700 touched late in the session and up from its previous trading close of 6.6912 on Sept. 30. The market was closed for a week for the National Day holiday since last Friday. The yuan scored its biggest monthly gain since its July 2005 revaluation, of 1.74 per cent, in September, hitting a slew of post-revaluation highs. The Chinese central bank fixed the yuan's daily mid-point, or its reference rate from which the yuan can rise or fall 0.5 per cent in a day, at a record high of 6.6830 on Friday. Benchmark one-year NDFs were bid at 6.4580 in early trade, implying 12-month yuan appreciation of 3.48 per cent.-Reuters
Indian rupee loses steam as shares fall MUMBAI: The Indian rupee gave up steam to end lower on Friday weighed by weak shares, lower Asian peers and dollar demand from oil importers, with the dollar's recovery from earlier lows aiding the fall. Dealers expect the rupee to resume its appreciation boosted by robust foreign fund inflows towards imminent share sales. So far since September, the rupee has risen 6 per cent on strong capital inflows. "The rupee's appreciation seems far too swift for anybody's comfort. I expect the rupee to touch 43.50 when inflows are chunky, but till December I expect rupee to be in 44-45 band as we have a large current account deficit," said Hemant Mishr, head of global markets, south Asia, at Standard Chartered Bank.
Foreign portfolio investments so far in 2010, have reached a record $21.3 billion, of which more than a third has come since the start of September. The inflows stood at $17.5 billion in 2009. The partially convertible rupee ended at 44.42/43 per dollar, weaker than 44.195/205 at close on Thursday when it hit 44.125, its strongest since Sept. 8. It moved in a narrow 44.344.5 band intra-day. -Reuters
Previous Day Source
Events
USD JPY EUR GBP GBP CAD CAD CAD USD USD USD USD
Consumer Credit m/m Current Account German Trade Balance PPI Input m/m PPI Output m/m Employment Change Unemployment Rate Housing Starts Non-Farm Employment Change Unemployment Rate Average Hourly Earnings m/m Wholesale Inventories m/m
Actual
Forecast
-3.3B 1.18T 11.7B 0.7% 0.3% -6.6K 8.0% 186K -95K 9.6% 0.0% 0.8%
-2.9B 1.09T 12.3B 0.3% 0.2% 10.7K 8.1% 180K 1K 9.7% 0.2% 0.6%
Previous
-4.1B 1.46T 12.6B 0.1% 0.0% 35.8K 8.1% 189K -57K 9.6% 0.3% 1.5%
Currency Rates Name EUR-USD EUR-GBP EUR-CHF EUR-JPY USD-CHF USD-CAD GBP-USD GBP-JPY AUD-USD EUR-CAD
As per 22.00 PST Ask High 1.3918 1.3982 0.873 0.8806 1.3379 1.3494 113.98 114.93 0.9609 0.9695 1.0126 1.023 1.595 1.596 130.58 130.93 0.9854 0.9869 1.4086 1.4227
Bid 1.3916 0.8727 1.3374 113.95 0.9606 1.0122 1.5946 130.52 0.9851 1.4083
Low 1.3837 0.8723 1.3372 113.69 0.9593 1.0124 1.5827 130.17 0.9712 1.4083
London Inter Bank Offered Rates (LIBOR) Karachi: The following are the London Inter-Bank Offered Rates (LIBOR). British Members Association Interest Settlement Rates. AT 11:00 LONDON TIME 08/10/2010 A USD GBP CAD EUR JPY O/N 0.22500 0.55000 1.05042 0.36375 SN 0.09625 1WK 0.25025 0.55500 1.06667 0.64625 0.10875 2WK 0.25169 0.56000 1.10000 0.66125 0.11625 1MO 0.25625 0.57125 1.12667 0.70125 0.13000 2MO 0.27297 0.62838 1.16917 0.76125 0.16000 3MO 0.28906 0.73913 1.22917 0.90813 0.20500 4MO 0.34344 0.82209 1.28583 0.97500 0.28938 5MO 0.40688 0.92500 1.34417 1.06438 0.34938 6MO 0.45750 1.02750 1.41083 1.17000 0.41125 7MO 0.50531 1.10350 1.47500 1.21625 0.47125 8MO 0.55644 1.18469 1.55750 1.26250 0.51938 9MO 0.60594 1.26625 1.62417 1.31000 0.56813 10MO 0.65794 1.34031 1.69417 1.36000 0.59813 11MO 0.71313 1.40781 1.78083 1.40713 0.62500 12MO 0.76956 1.47344 1.86167 1.45550 0.65438
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Bank of Canada European Central Bank Federal Reserve Swiss National Bank Bank of England The Reserve Bank of Australia Bank of Japan
Oct 19 2010 Nov 04 2010 Nov 03 2010 Dec 16 2010 n/a n/a n/a
Sep 08 2010 May 07 2009 Dec 16 2008 Mar 12 2009 Mar 05 2009 May 04 2010 Oct 05 2010
Current Interest Rate 1% 1% 0.25% 0.25% 0.50% 4.50% 0%
Division of National Bank of Pakistan (NBP) KARACHI, October 08,2010 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND
85.85 136.47 119.84 84.51 88.88 84.52 12.89 1.04 14.78 65.72 16.07 22.89 11.07 12.86 304.38 27.70 64.69 23.59 23.37 0.08 2.87
85.65 136.15 119.65 84.32 88.67 84.33 12.86 1.04 14.74 65.57 16.04 22.84 11.04 12.83 303.67 27.64 64.54 23.54 23.32 0.08 2.86
85.47 135.84 119.29 84.10 88.44 84.10 12.83 1.04 14.71 65.39 16.00 22.78 11.01 12.80 302.87 27.57 64.37 23.48 23.26 0.08 2.85
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for October 08, 2010
CMKA 0-7days 12.50 8-15dys 12.50 16-30dys 12.50 31-60dys 12.60 61-90dys 12.70 91-120dys 12.80 121-180dys 13.05 181-270dys 13.10 271-365dys 13.20 2-- years 13.45 3-- years 13.85 4-- years 13.75 5-- years 13.90 6-- years 13.85 7-- years 13.85 8-- years 13.75 9-- years 13.65 10--years 14.00 15--years 14.25 20--years 14.40 30--years 14.60
BMA 12.50 12.35 12.40 12.48 12.69 12.80 13.00 13.05 13.15 13.45 13.83 13.91 13.95 13.97 13.95 13.70 13.60 13.98 14.20 14.40 14.60
INVSR 12.50 12.40 12.40 12.45 12.69 12.85 12.95 13.00 13.10 13.45 13.85 13.64 13.95 13.78 13.75 13.65 13.62 13.99 14.20 14.40 14.60
GSL 12.45 12.35 12.45 12.68 12.70 12.90 13.10 13.15 13.20 13.40 13.85 13.85 13.93 13.86 13.80 13.82 13.65 14.00 14.25 14.30 14.50
ICSL 12.60 12.50 12.55 12.60 12.65 12.80 13.05 13.10 13.20 13.45 13.75 13.80 13.85 13.85 13.85 13.90 13.65 13.99 14.25 14.40 14.60
JSCM AvgRate 12.50 12.51 12.40 12.42 12.45 12.46 12.55 12.56 12.65 12.68 12.85 12.83 12.95 13.02 13.00 13.07 13.10 13.16 13.45 13.44 13.85 13.83 13.65 13.77 13.95 13.92 13.80 13.85 13.75 13.83 13.65 13.75 13.62 13.63 13.99 13.99 14.20 14.23 14.40 14.38 14.60 14.58
Currencies Correlation EUR/USD Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/JPY GBP/USD NZD/USD
week month months months year years
0.57 0.97 0.82 0.89 0.53 0.37
0.46 0.94 0.30 0.02 0.80 0.52
0.94 0.99 0.83 0.58 0.85 0.49
0.98 0.93 0.74 0.57 0.91 0.78
0.77 0.96 0.76 0.79 0.88 0.71
0.98 0.87 0.82 0.77 0.59 0.39
USD/CAD USD/CHF -0.96 -0.81 -0.68 -0.64 0.26 -0.25
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)08/10/2010 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
ABP L 1250
1300
1150
1200
1215
1265
1280
1305
1295
1320
1310
1360
1320
1370
1330
1380
ABLN
1245
1295
1245
1295
1240
1290
1280
1305
1295
1320
1310
1360
1325
1375
1335
1385
JSBL
1240
1290
1250
1300
1250
1300
1275
1300
1315
1340
1315
1365
1325
1375
1350
1400
ASPK
1250
1300
1250
1300
1250
1300
1280
1305
1295
1320
1310
1360
1320
1370
1330
1380
CIPK
1250
1300
1240
1290
1245
1295
1275
1300
1305
1330
1310
1360
1325
1375
1330
1380
DBPK
1220
1270
1230
1280
1230
1280
1270
1295
12-90
1315
1315
1365
1325
1375
1335
1385
FBPK
1245
1295
1240
1290
1240
1290
1265
1290
1300
1325
1310
1360
1315
1365
1340
1390
FLAH
1250
1300
1230
1280
1230
1280
1280
1305
1295
1320
1310
1360
1320
1370
1330
1380
HBPK
1230
1280
1230
1280
1245
1295
1280
1305
1300
1325
1310
1360
1320
1370
1335
1385
HKBP
1230
1280
1230
1280
1235
1285
1275
1300
1290
1315
1310
1360
1320
1370
1330
1380
N I PK 1260
1310
1250
1300
1275
1325
1295
1320
1310
1335
1315
1365
1320
1370
1325
1375
HMBP 1225
1275
1230
1280
1250
1300
1280
1305
1310
1335
1315
1365
1320
1370
1340
1390
SAMB 1225
1275
1225
1275
1240
1290
1285
1310
13-00
1325
1315
1365
1325
1375
1335
1385
MCBK 1225
1275
1230
1280
1240
1290
1275
1300
1295
1320
1310
1360
1320
1370
1340
1390
NBPK
1210
1260
1220
1270
1220
1270
1275
1300
1280
1305
1310
1360
1320
1370
1330
1380
SCPK
1250
1300
1220
1270
1225
1275
1265
1290
1290
1315
1310
1360
1320
1370
1335
1385
UBPL
1250
1300
1230
1280
1235
1285
1265
1290
1295
1320
1315
1365
1325
1375
1335
1385
AVE
12.40
12.90
12.33
12.83
12.39
12.89
12.77
13.02
12.97
13.22
13.11
13.61
1321
1371
1334
1384
-0.84 -0.97 -0.69 -0.72 -0.65 -0.63
4 Saturday, October 9, 2010
The Financial Daily International Vol 4, Issue 65
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA
S. Muneer Hussain Rizvi
Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Akhtar M. Zaidi, FCA
Prof. Zakaria Sajid (KU)
Dr. A. Hadi Shahid, FCA
Zahid Bukhari SVP HBL (retd)
Muhammad Arif
Ismat Sabir Head office
111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-5311893-6 Fax: 92-21-5388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com
Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com
In fear we live The news about bomb blasts at the shrine of Abdullah Shah Ghazi on Thursday jolted Karachi. Soon public transport disappeared from the roads, shopping areas became deserted, fuel stations were closed and people started rushing to their home. Within hours political parties announced Friday to be observed as a mourning day. Television channels started airing reports and later on confusion started building because of contradictory scrolls appearing on the screen one saying private schools will remain closed and other the government schools will be open on Friday. Some of the schools are holding monthly/bimonthly tests and panicked parents started calling each other. This was not the first time that the city plunged into mourning and rumors wreaked chaos. Some of the petrol pumps and CNG stations closed immediately and long queues were witnessed at the outlets in opearation. Strangely, the mourning groups claim to observe peaceful day but miscreants taking advantage of this occasion turn mourning into violence. Horrendous memories of December 27, 2007, the day Benazir Bhutto was killed still haunt the people of Karachi. Since then, that trauma has been frequenting the city again and again. Similar incidents have also been taking place in many cities of Pakistan. Two of the modus operandis are most common i.e. target-killing and bomb blasts. Over the years police has failed in rounding up the culprits and even if some miscreants are caught, courts fail in convicting them because of insufficient evidence. The situation becomes more disgusting when some of the banned outfits claim the responsibility but law enforcing agencies are completely helpless, either they can't dare to round up the accused or are hand-in-glove with them. Recently when everyone else was condemning the attack on the shrine, Munawar Hassan, Chief of Jamat-e-Islami said as long as drone attacks continue in the northern areas the government should be ready to witness retaliation in the main cities of Pakistan. His statement, in a way, was in support of those who later on claimed responsibility of these blasts. One must also appreciate the statement of Faisal Raza Abidi of PPP who not only denounced the attack but also advised the Jihad-like people to go to Afghanistan and fight along with their brothers for killing innocent people just can't be appreciated. If the political parties believe that former president, Pervez Musharraf made a big mistake by joining the US war in Afghanistan, they must move resolutions in provincial and national assemblies and senate to disassociate themselves from the proxy war being fought by Pakistan. They should in no way appreciate Taliban for killing Pakistanis and destroying private and public properties.
Disclaimer:
All reports and recommendations have been prepared for your information only. Summary and Analysis are not recommendation to buy or sell. This information should only be used by investors who are aware of the risk inherent in securities trading. The facts, information, data, indicators and charts presented have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. The Financial Daily International and its employees are not responsible for any loss arising from use of these reports and recommendations.
Signs of US Desperation Bilal Zubair
K
illing of three Pakistani soldiers in a Nato helicopters attack on a security post in Kurram Agency has once again raised questions on the manner war on terrorism is waged. Considerable changes can be witness in the rules of engagement in the pretext of pursuing enemy combatants into the Pakistani areas bordering Afghanistan. Similarly, increasing drone attacks in both North and South Waziristan indicate the level of significance allied forces are attaching to this area and subsequent pressure on Pakistan to open new fronts within Pakistani borders common with Afghanistan. These developments have strained the Pak-US relationship and widened the deficit breach between the two sides. Following the helicopter attack, Nato supply lines have been blocked both at Torkham and Chaman borders. Torching of Nato trucks inside Pakistan is indicative of disapproval of the increasing drone attacks in Pakistan. In September alone 22 drone strikes were undertaken in the tribal areas making out of the total of 76. Out of the 22 predator attacks 19 were made in the North Waziristan area. This gradual increase in drone attacks can be traced back following the suicide attack on a CIA base in Khost, Afghanistan, in late December 2009. By surging these strikes Washington has conveyed Pakistan its intention to expand the scope of counterinsurgency operation especially against those elements believed to be the strategic asset for Pakistan in North Waziristan. Early this year, Pakistan was believed to be nearly in a position to convince the US to assign a role to Jalaludin Haqqani led faction of Taliban in Afghanistan. The ex-commander of Nato led forces in Afghanistan, Gen. Stanley McChrystal was also convinced about this Pakistani perspective and foreseeing good prospects of engagement with moderate Taliban
forces. He advocated an early withdrawal of US forces and expressed his apprehensions that surge of troops could draw the US into an open-ended quagmire. The views of McCrystal were not welcomed by the policy makers in Washington. He was forced to resign from his post following a controversial interview published in Rolling Stone magazine. General Patreaus assumed the charge of commander of the Nato
“
in the region. This move had seriously antagonized Pakistan's military establishment. Consequently, it had further reinforced the speculations in Pakistan that US wants to limit Pakistan's influence on Afghans. For the same reason despite unprecedented floods, Washington has not given any respite to Pakistan to continue its war against the local Taliban insurgents. The US is likely to keep constant pressure on Pakistan to initiate military action in North Waziristan against the Haqqani Network. The surge in drone attacks is thus a message to Pakistan that ISAF boots may trespass into Pakistani territory if the country shows its inability to take on the outlawed militant outfits in North Waziristan. This situation is supporting the belief that Nato might be planning to take this war into Pakistani territory. ISAF incursion into Pakistani territory was believed to be made in the pretext of a wild judgment by Sky News report that a militant outfit in North Waziristan is planning to attack major European cities. No proofs whatsoever have been found to second this assumption. It seems that in their final years in
In September alone 22 drone strikes were undertaken in the tribal areas totaling up to 76 this year. Out of the 22 predator attacks 19 were made in the North Waziristan area. forces on July 4, 2010 with a pledge to pursue the set of US military objectives. In his early days of command, General David Petraeus was able to convince Obama's team in Washington that Haqqani facton should be included in State Department's list of designated terrorists. This measure has complicated things for Afghan President Hamid Karzai, who was near to reach a political settlement with the network. Growing drone attacks in North Waziristan underline the US
The views of McCrystal were not welcomed by the policy makers in Washington. He was forced to resign from his post following a controversial interview published in Rolling Stone magazine objective to paralyze the operational capabilities of Haqqani network. At a time when Americans are not convinced about achieving their military objectives in Afghanistan they also believe that a pro Pakistani regime in Afghanistan will hurt US interests
Afghanistan, the allied forces want to blame Pakistan for their unsuccessful military campaign. Back in Washington, President Obama's advisors are still unconvinced about any successful strategy and the possible outcome of the war
in Afghanistan. In his recent book Obama's Wars, Bob Woodward claim that the President Obama has been told by his military strategists that troops surge will not guarantee a victory in this war, reinforcing the stance previously maintained by Gen. McCrystal. Moreover, Woodward has advised President Obama that he should not trust Pakistan Military Chief Gen. Ashfaq Pervaiz Kinai as he will only safeguard Pakistani interests in this war. Nevertheless, Americans are not ignorant of the fact that the endeavors made by the new incumbent army chief in consolidating Pakistani position against war on terror are undeniable. For the same reason his three years extension as army chief was not objected by any quarter. Currently, the approval of US war in Afghanistan is all time low. According to an Opinion Poll, 9 of every 10 people in Fata disapprove US incursion and drone attack in Pakistan and 70 per cent people in Fata believe that only Pakistani military should fight militants in the tribal region. Thus increasing drone attacks in Fata will only increase anti-Americanism sentiments in Pakistan and neutralize all American aid and help provide to the flood relief victims. In these circumstances Taliban will easily find new recruits in the backdrop of innocent civilians killed in such attacks. Americans need to understand that their future strategy in Afghanistan should be based on ground realities. Otherwise allied forces would meet failure in this 10 years old campaign. Getting an honorable exit and maintaining US influence in Afghanistan in future will only be possible through Pakistan. According to Strategic Forecasting an American think-tank "US needs withdrawal to take place in a manner that strengthen its influence rather than weaken it. Pakistan can provide the cover for turning a retreat into a negotiated settlement". For this reason US needs to understand Pakistani interests and objective in the future of Afghanistan. If not, US limitations and Pakistan's veto in Afghan affairs is no secret.
The Return of “Great Power Politics” F
rom currency battles to computerized corporate espionage, fractious international conferences to a new scramble for Africa, "great power politics" is back on the map. The growing power of emerging economies -- particularly China, Russia, India and Brazil -- is redrawing the priorities of foreign and defence ministries, driving financial markets and reshaping the global business environment. Speaking in Geneva last month, former Secretary of State Henry Kissinger compared the approach of powers "emerging into confident nationhood" to those of states in the 19th or early 20th centuries. Their rivalries eventually triggered the carnage of World War One. The rise of China in particular is putting international relationships and systems into flux, Kissinger warned. "Chaos may occur but when it does it will sooner or later settle down to some new order," he said -- saying it was essential that statesmen managed this process well to "save humanity from untold suffering." The global financial crisis of 2008 appeared to produce a fragile consensus on economic interdependence and regulatory reform at a G20 summit in London in April 2009. But that has all but broken down. International Monetary Fund Managing Director Dominique Strauss-Kahn lamented fading global cooperation this week. "I think it's fair to say that momentum is not vanishing but decreasing and that's a real threat," he told a news conference ahead of twice-yearly IMF and World Bank meetings. "Everybody has to keep in mind this mantra that there is no domestic solution to a global crisis," he said. Private sector analysts see the change even more starkly. "Even a year ago, they thought they needed each other," said Elizabeth Stephens, head of credit
and political risk at London insurance broker Jardine Lloyd Thompson. "Now, it's survival of the fittest." "CURRENCY WAR" Some say that was inevitable -- not least because of growing imbalances in the global financial system and
“
disagreements that may point to what is to come. There has been the growing rhetoric over what Brazil's finance minister warns may be an "international currency war," with key economies vying to weaken their exchange rates. Governments fear a domestic backlash if they are seen to blink first, potentially losing jobs to their rivals. The West wants rapid Chinese currency appreciation -- but Beijing is strongly resistant, warning it could unleash social turmoil. Brazil this week effectively increased capital controls and other emerging economies such as South Korea are considering following suit to control currency rises. Fears of a repeat of Great Depression-style currency and trade tariff struggles dominated the run-up to the weekend's IMF and World Bank meetings as well as Friday's G7 finance talks. "If one lets this slide into conflict, or forms of protectionism, then we run the risk of repeating the mistakes of the 1930s," World Bank president Robert Zoellick told reporters. In a more conventional national dispute, Beijing and Tokyo locked
Chaos may occur but when it does it will sooner or later settle down to some new order,” he said -- saying it was essential that statesmen managed this process well to “save humanity from untold suffering.” upward pressure on emerging nations' currencies. Governments are relying on export-led growth to bring jobs and ensure social stability, inherently producing rivalry over foreign exchange and access to resources. Everyone wants a competitively weak currency and guaranteed cheap fuel and food. China is at the center of these tensions, due both to its currency, still
The growing power of emerging economies -- particularly China, Russia, India and Brazil -- is redrawing the priorities of foreign and defence ministries, driving financial markets and reshaping the global business environment. effectively pegged to the dollar, and to its insatiable appetite for resources. But the unstable dynamics go beyond the Beijing-Washington axis, sometimes dubbed the "G2." The last month has seen a host of signs of the new world rivalries and
horns last month after Japan's coastguard detained a Chinese trawler skipper near disputed islands. That escalated to an apparent de facto embargo of Chinese exports of "rare earth" minerals vital to Japanese industry before the ship's
skipper was released. Some see Japan and Asian nations' sovereign wealth funds following China and Middle Eastern powers in trying to lock down food, mineral and energy supplies in Africa and elsewhere. Those resource struggles may define the 21st century in the same way conventional wars defined the 20th, some say. "We are now armed in a different way," said Michael Power, global strategist at Investec. "We shouldn't sensationalize this idea of a currency war -- but there is a modicum of truth that this is some kind of conflict." He is not alone in that thinking. The US Naval War College in Rhode Island is teaching mid-ranking officers more than ever before about finance and markets. "There is growing appreciation for rising and resurgent powers and their abilities... to complicate US freedom of action," said Nikolas Gvosdev, professor of national security at the college. "But there is also hope that effective US outreach to "middle powers" could help constrain China, Russia and others to be more cooperative." CYBER THREATS In a clue as to another form warfare may take in the years to come, Iranian computer systems last month came under attack from what analysts said was likely a "state-built" worm aimed at its nuclear program. Many analysts suggested Israel or the United States were the likely points of origin -- but cyber attacks offer an appealing deniability. A Reuters special report this week showed for the first time the scale of US preparations to meet the threat -seem largely from emerging powers such as China and Russia. "While economic interdependence makes conventional hot wars between major powers much less likely, the combination of a rapidly changing geopolitical balance and technological advances on offensive cyber attack capabilities will make state-sponsored industrial espionage a more serious outcome," said Ian Bremmer, president of political risk consultancy Eurasia Group.-Reuters
5
Saturday, October 9, 2010
EU stocks end flat as miners offset banks
South East Asian stocks Indonesia leads regional fall KSE-100 Index Opening Closing Change % Change Turnover (mn)
KSE in on green, but off 10,300 turf
10,191.68 10,260.48 68.80 0.68 134.66
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,180.49 3,192.48 11.99 0.38 6.69
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,597.91 2,610.22 12.31 0.47 0.18
Major Gainers
Symbol
Close
Change
RMPL 1,309.25 NESTLE 1,961.62 UPFL 1,030.00 LAKST 371.55 COLG 716.71
62.34 34.09 29.00 17.69 11.71
Major Losers
Symbol
Close
Change
WYETH BATA IDYM SAPL SAPT
910.00 446.61 209.71 116.20 103.36
-40 -23.5 -8.28 -5.79 -5.44
Top 5 Volume Leaders
Symbol
Close Vol (mn)
LOTPTA NCL WTL NML BAFL
8.92 18.42 2.60 49.24 9.11
18.30 9.65 8.87 7.45 6.65
Active Issues Plus Minus Unchanged
211 149 24
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to July 10) 3,565 Urea Offtake (July 10) 580 Urea Price (Rs/50 kg) 879 DAP Offtake (Jan to July 09) 374 DAP Offtake (July 10) 49 DAP Price (Rs/50 kg) 2,626
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 09 to June 10) 71,998 Sales (July 09 to June 10) 73,993 Production (July 10) 7,509 Sales (July 10) 4,503
INDUS MOTOR CO Production (July 09 to June 10) 50,557 Sales (July 09 to June 10) 50,823 Production (July 10) 5,162 Sales (July 10) 4,999
HONDA ATLAS CAR Production (July 09 to June 10) 13,500 Sales (July 09 to June 10) 14,120 Production (July 10) 1,560 Sales (July 10) 1,272
DEWAN FAROOQ MOTORS Production (July 09 to June 10)1,218 Sales (July 09 to June 10) 1,371 Production (July 10) 41 Sales (July 10) 40
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (August 20,10) 4,595,176 Advances (August 20,10) 3,304,533 Investments (August 20,10) 1,788,671 Spread (July 2010) 7.51%
OIL MARKETING CO (000 tons) MS (Jul 09 to June 10) MS (July 10) Kerosene (Jul 09 to June 10) Kerosene (July 10) JP (Jul 09 to June 10) JP (July 10) HSD (Jul 09 to June 10) HSD (July 10) LDO (Jul 09 to June 10) LDO (July 10) Fuel Oil (Jul 09 to June 10) Fuel Oil (July 10) Others (Jul 09 to June 10) Others (July 10)
PRICES (Ex-Refinery) MS (1 Sep 10) MS (1 Aug 10) MS % Chg Kerosene (1 Sep 10) Kerosene (1 Aug 10) Kerosene % Chg JP-1 (1 Sep 10) JP-1 (1 Aug 10) JP-1 % Chg HSD (1 Sep 10) HSD (1 Aug 10) HSD % Chg LDO (1 Sep 10) LDO (1 Aug 10) LDO % Chg Fuel Oil (1 Sep 10) Fuel Oil (1 Aug 10)
1,933 188 164 15 1,377 129 7,435 664 75 7 9,259 869 13 1
Rs 40.85 41.22 -0.90% 47.14 46.55 1.27% 47.37 46.78 1.26% 50.61 49.63 1.97% 46.37 45.29 2.38% 39,932 39,723
Nawaz Ali KARACHI: Despite tense security situation in the city, bullish activities continued at the local bourse on Friday which ended above 10,250 points due to continued buying by the local and foreign institutions on expectations of good corporate results while buying also witnessed on relaxation given in exports by EU and hopes of early launch of Margin Trading System. The benchmark KSE 100index increased by 68 points to close at 10,260 points, KSE 30-index grew by 65
points to close at 9,929 points and KSE all-share index rose by 44 points to close at 7,151 points. "Bullish activity continued with healthy volumes on expectations of strong earning announcements", said Ahsan Mehanti, Director Arif Habib Investments. Expectation of early implementation of MTS products, EU duty concessions on Pakistan exports, improvement in foreign relations, political stability and expectation of early receipt of IMF disbursement of $1.7bn for economic support played a catalyst role in pos-
Banks pull FTSE lower on weak US jobs data LONDON: Britain's top share index inched down on Friday, weighed by weaker banks after a surprise drop in U.S. non-farm payrolls, although the data raised quantitative easing expectations which lifted commodity prices. At the close, the FTSE 100 was 4.52 points or 0.1 per cent lower at 5,657.61. The index gained 1.2 per cent over the week and hit a five-month closing peak on Wednesday. "The jobs report disappointed and, with U.S. markets closed on Monday, investors have no reasons to get involved, so FTSE just drifted," said Mic Mills, head of electronic trading at ETX Capital. Banks were the biggest drag on the blue chip index, with Barclays the worst off, down 2.2 per cent after an effective stake sale by a key Abu Dhabi investor. Abu Dhabi exercised 131.6 million warrants in the bank, equivalent to a 1.1 per cent stake, and simultaneously entered into a hedging arrangement with Nomura, it said in a statement after Thursday's close. Other banks also fell back, with Lloyds Banking Group and HSBC losing 0.7 per cent and 0.5 per cent respectively, on global recovery concerns, and with results set to flow from their U.S. peers in the next few weeks. "The Fed may well be poised to pump more money into the economy as jobs keep being shed, but the markets focus will shift to corporate matters next week, with some key earnings due out, so investors are staying nervous," Mic Mills added.
U.S. blue chips were 0.5 per cent higher by London's close as investors took heart from possible further Fed action as the employment picture stayed gloomy, and with the Columbus Day public holiday to provide a break on Monday. ENERGY DRAIN Weak energy stocks were also a drag in London, with BP off 0.3 per cent, although crude prices recovered after the jobs data as the dollar fell back. But miners were the biggest FTSE 100 gainers as metal prices rose with the weaker dollar, and on expectations that more quantitative easing could lift global demand for metals. Platinum miner Lonmin was the top FTSE 100 gainer, up 3.9 per cent, while Xstrata gained 2.9 per cent, and gold miner Randgold Resources added 2.2 per cent. Mexican silver miner Fresnillo missed out on the gains, losing 3.2 per cent after Merrill Lynch cut its rating on the stock to "underperform" from "neutral". Sage Group was the top FTSE 100 faller, down 4.6 per cent after UBS downgraded its rating on the accountancy software firm to "sell" from "neutral", with the broker highlighting a number of problems for Sage's new CEO. Among the mid caps, Thomas Cook was a good gainer, up 3.4 per cent after Europe's second-biggest tour operator said it plans to merge its town centre and foreign exchange business with that of British retailer the Cooperative Group to create the country's largest retail travel network. Reuters
itive activity at KSE, he added. Market started the day in the green zone with a gain of 16 points; positive activities were then increased as investors took positions on expectations of good corporate result for the quarter ended September 30. The positives kept the sentiments bullish benchmark index stayed in the positive zone and closed the first session with a gain of 79 points. It should be noted that the European Union on Thursday suspended duties on 75 Pakistani imports as part of an aid-linked pack-
US stocks mid-day
Dow pops above 11K on stimulus expectaions NEW YORK: The Dow broke above 11,000 for the first time since May on Friday as a weaker-than-expected jobs report bolstered expectations that the Federal Reserve will buy more assets to spur the sluggish U.S. economy. The Fed's hint that it may do more quantitative easing has commanded the attention of equities investors in recent weeks. On Thursday, investors actually took better-than-expected weekly jobless claims data as a bad sign for the market. "The twisted irony is this should be perceived as a negative, but Wall Street is banking on heavy Fed involvement to help push stocks higher for the rest of the year. The result could be an increase in risk appetite for equities and a move away from 'safer' and tangible investments like Treasuries and gold," said Todd Schoenberger, managing director of Landcolt Trading LLC in Wilmington, Delaware. The Dow Jones industrial average gained 52.37 points, or 0.48 per cent, to 11,000.95. The Standard & Poor's 500 Index added 5.39 points, or 0.47 per cent, to 1,163.45. The Nasdaq Composite Index rose 8.72 points, or 0.37 percent, to 2,392.39. Options traders also remained confident about the market as the volatility index continued to slide. The CBOE Volatility index, Wall Street's so-called fear gauge, fell 5.5 per cent at 20.37, the lowest since May. The Labor Department's overall jobs report increased the likelihood of another round of quantitative easing from the Fed, pushing the dollar lower and strengthening commodityrelated stocks. -Reuters
ANNOUNCEMENTS Company Kohinoor Spinning Quetta Textile N. P. Spinning Mills Nishat (Ch)15% Nishat (Chunian) Babri Cotton U.D.L.Modaraba Resham Textile Paramount Spinning (Colony) Sarhad (Colony) Thal 1st.Fid.Leasing Mod Ados Pakistan Ahmed Hassan Dar-es-Salaam Diamond Ind. F. Nat.Equities Gammon Pak Javedan Cement Khurshid Spinning Leiner Pak Gelatine Regent Textile Shaffi Chemical Suhail Jute Taha Spinning
Period Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly
Div/Bon/Right 5%(D) 20%(D) 20%(D) 15%(D) 15%(D) 15%(B) 12.5%(D) 10%(D) 10%(B) 10%(D) -
PAT (Rs in mn) 143.474 255.034 82.402 931.473 102.343 50.768 173.767 108.036 -14.472 -6.177 -11.849 32.287 58.712 0.484 6.045 -127.685 -32.746 -128.916 -58.251 -3.000 14.934 15.966 -11.398 -14.931
EPS(Rs) 1.10 28.26 5.61 7.89 35.34 1.92 4.83 6.85 -3.62 -1.11 -0.45 4.90 4.07 0.06 0.67 -2.22 -1.16 -2.36 -4.42 -0.40 3.14 1.33 -3.04 -3.69
age to help the country recover from devastating floods. Market remained vibrant in the second session and the index at about 2:45 PST touched an intra-day high of 10,309 points (up 117 points). Since it was the last trading day of the week some profit taking was witnessed at higher levels which clipped the index gains and it failed to close above 10,300 points. According to an equity dealer, the likely beneficiaries of the duty exemption by EU led the turnover along with various low priced
stocks, following the momentum initiated by government treasuries and resident participants, day traders did join the rally for successful short term bets thereby allowing the local bourse to witness decent activity throughout the session. Volumes were little lower during the day as 134.6 million shares traded in the overall market which is 13.6 million shares less as compared to a turnover of 148.2 million shares on Thursday. Out of total 384 active issues; 211 advanced and 149 declined while 24 issues remained unchanged.
FHIF declares 1st interim dividend for FY11 Staff Reporter KARACHI: The Board of Directors of Habib Asset Management Limited, the management company of Fist Habib Income Fund (FHIF), has declared 1st interim dividend for FY1 1 among the unit holders the Fund. The Board, in its meeting held on October 7, announced cash dividend of Rs2.25 per unit for the unit holders having 'C' class of units and 2.2457 bonus units for every 100 units for other unit holders. The dividend will be paid on the basis of units held by a unit holder as on October 7, 2010. The board also approved accounts of FHIF for the quarter ended September 30, 2010 posting net income of Rs41.95 million, giving return of 9.28 per cent. -Reuters
Nikkei slips as strong yen turns banana skin TOKYO: Japan's Nikkei average fell one per cent on Friday, hurt by the yen trading near a 15-year peak against the dollar and by profit-taking after the Bank of Japan's policy easing this week had driven stocks higher. Investors were also keen to unwind positions ahead of key U.S. payroll data later in the day, which may provide clues as to whether the Federal Reserve will resume quantitative easing and ahead of a three-day weekend in Japan. Despite its softness on Friday, the Nikkei gained 2 per cent on the week, its best weekly performance since mid-September, as investor confidence improved after the BOJ on Tuesday cut interest rates to virtually zero and pledged to pump more funds into the struggling economy. "The market faced pressure as the BOJ's steps haven't proven to be really effective on the currency markets, with the yen remaining on the strong side ahead of the U.S. jobs data and due to speculation for quantitative easing by the Fed," said Junichi Misawa, senior fund manager at STB Asset Management. "But policy hopes, which had been almost non-existent until the BOJ's announcement of its rather bold steps, are providing support to the stock market."
The potential for yen intervention after a Group of Seven nations meeting this weekend was also a key focus for the market, as its outcome could influence views on when or whether Japanese officials will intervene again to pull down the yen. "The market is watching to see if Japan will intervene after the Group of Seven meeting to prevent further firming of the yen," said Yutaka Miura, senior technical analyst at Mizuho Securities. "If the yen advances more and Wall Street falls after the G7, then the Nikkei would be hit very hard." The benchmark Nikkei ended the day down 95.93 points at 9,588.88, speeding up its fall as it headed into the close. The broader Topix fell 0.8 per cent to 839.44. The yen stood at 82.38 against the dollar, not far away from a 15-year high of 82.11 yen reached the previous day. Caution over possible Japanese intervention has increased since the yen rose beyond 82.87 - the level where Tokyo intervened for the first time in six years on Sept. 15. The U.S. non-farm payrolls report is expected to show payrolls were unchanged in September, an outcome that would cement expectations of further Federal Reserve action
to spur the recovery. Many market players think expectations of quantitative easing by the Fed will keep pushing the dollar lower. The Fed's next policy-making meeting is scheduled for Nov. 2 and 3. After the close, Fast Retailing forecast a 14.3 percent fall in annual operating profit this business year, as sales at its Uniqlo casual clothing chain lose steam. The stock had ended the day down 2.3 per cent. Although the Nikkei edged lower, market participants said technical sentiment had turned bullish especially after breaking through several chart points this week. The 25day moving average of 9,411 and the 75-day average of 9,399 have become major technical support levels. "The Nikkei may be under downward pressure, but there is plenty of demand to buy on dips based on strong technical trends," said Hiroichi Nishi, general manager of equity marketing at Nikko Cordial Securities. Property stocks ran out of steam after posting strong gains this week on the central bank's plan to set up a $60 billion fund to buy a wide range of assets, including Japanese real estate investment trust. Mitsubishi Estate lost 1.3 per cent to 1,489 yen, but has gained about 7 percent since the BOJ news. -Reuters
Indian shares end shade lower First weekly loss in six weeks MUMBAI: Indian shares fell 0.3 per cent on Friday to log its first weekly loss in six weeks, with investors locking in profits ahead of quarterly earnings, after rallying to a 33-month high earlier this week. Analysts said the market was showing signs of fatigue and sentiment has turned cautious. "Our view is this is a traders' market. There has been profit booking by long-only foreign funds, given that there are fears over controls on foreign inflows," said Ambareesh Baliga, senior vice president at Karvy Stock Broking. "But I see the markets holding on around current levels in the immediate future." Strong growth outlook for India, Asia's third-largest economy, and limited opportunities in the developed world has seen brisk investments by foreign funds. Foreign institutional investors have pumped in a
record $21.3 billion into Indian equities so far this year, sending the benchmark index up 16 per cent. Nearly a third of this money has come in since the start of September. On Tuesday, a deputy governor of the central bank said the Reserve Bank of India is considering measures to deal with an influx of foreign fund flows. The 30-share BSE index closed 0.32 per cent, or 65.06 points lower at 20,250.26, on Friday, with 20 of its components declining. It had risen as much as 0.5 per cent in early trade. The benchmark, which had hit a 33-month-high on Monday, is still about 950 points away from a record high of 21,206.77 scaled in January 2008. "This is a small correction, a very healthy correction. The sell-off is at desired levels," said Deven Choksey, managing director and chief execu-
tive of KR Choksey Shares. Shares of metal firms Tata Steel, Sterlite Industries and Jindal Steel, which had rallied over the past few weeks, shed 1 per cent to 3 per cent. Auto shares were down on profit sales following a run-up, with Mahindra & Mahindra dropping nearly 2.7 per cent, Tata Motors down 1.9 per cent and Hero Honda slipping 0.4 per cent. Maruti Suzuki bucked the trend, closing 0.5 per cent higher. Car sales in India rose an annual 30.4 per cent in September, industry body Society of Indian Automobile Manufacturers said, as a fast expanding economy continued to attract customers. But, its president Pawan Goenka said he expects growth to moderate in the December quarter, and forecast an 18-20 per cent expansion for the industry in the financial year ending next March. Reuters
6
Saturday, October 9, 2010
Market
KSE 100 Index
Symbols
Volume
134,661,210
Value
4,129,752,998
Trades
61,367
Advanced Declined Unchanged Total
High Low 1,283.10 1,264.64 Total cos Defaulter cos P/BV (x) ROE (%) 4.06 37.01
Close Change 1,278.38 10.78 Listed cap Market cap 65,194.15 mn 1,028,646.92 mn Payout (%) Div Yield (%) 68.56 6.25
High
Low
Close Chg
Volume
576 853 3921 735 800 Oil & Gas Development XD 43009 Pak Petroleum 11950 Pak Oilfields 2365 Pak Refinery Limited 350 P.S.O XD 1715 Shell Gas LPG 226 Shell Pakistan XD 685
5.67 15.66 15.23 5.37 10.16 5.65 6.21 4.72 13.52 9.94
360.31 82.03 10.38 108.74 212.83 147.08 178.76 241.25 58.82 271.21 30.17 193.45
369.99 86.13 11.00 114.02 218.40 147.60 181.40 245.30 61.76 280.35 30.89 195.00
362.50 82.10 10.40 109.00 212.80 146.60 178.06 240.80 61.76 271.00 30.00 193.20
368.59 8.28 86.13 4.10 10.75 0.37 112.39 3.65 215.57 2.74 147.21 0.13 180.23 1.47 244.55 3.30 61.76 2.94 279.13 7.92 30.01 -0.16 193.91 0.46
390084 1098610 3623428 199155 439630 436197 1209532 1503239 7469 1540487 2481 24292
Last 60 days High Low 369.99 93.60 12.96 138.45 218.40 153.00 214.10 245.30 82.00 289.45 39.80 244.00
% Change 0.85 5-Day High 1,278.38 5-Day Low 1,248.69
2009 Div BR (%) (%)
2010 Div BR (%) (%)
289.00 250 73.47 9.62 106.00 32.17 100B 183.25 125 133.00 82.5 168.70 130 20B 213.17 180 48.26 233.10 50 27.32 188.00 330 -
300 31 200 55 90 255 80 40
20 20B -
Open 1,155.43 Turnover 26,954,481 P/E (x) 7.12
High Low 1,174.74 1,146.93 Total cos Defaulter cos P/BV (x) ROE (%) 2.49 35.00
PE
Open
High
Low
Agritech Limited 3924 Bawany AirSPOT 68 1.50 BOC (Pak) 250 9.28 Clariant Pak 273 5.69 Dawood Hercules 1203 7.85 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Dynea Pak 94 4.37 Engro Corporation Ltd 3277 9.10 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji Fertilizer 6785 7.30 Fauji Fert. Bin Qasim 9341 7.27 Ghani Gases Ltd 725 ICI Pakistan XD 1388 7.29 Lotte Pakistan 15142 3.10 Mandviwala 74 Nimir Ind Chemical 1106 67.00 Shaffi Chemical 120 1.74 Sitara Peroxide 551 United Distributors 92 Wah-Noble 90 5.02
23.37 11.40 73.95 163.04 168.02 2.11 3.98 1.37 11.70 176.05 14.73 10.35 106.87 28.36 13.18 120.02 8.73 1.58 1.33 2.60 8.49 13.17 42.10
24.53 12.40 74.50 164.00 171.90 2.25 4.09 1.55 11.87 179.20 14.88 10.55 108.01 29.04 13.85 123.20 9.05 2.56 1.45 2.85 8.89 12.17 43.00
22.31 10.70 72.05 160.00 168.00 2.15 3.90 1.35 11.10 174.00 14.51 10.25 106.25 28.15 12.30 119.50 8.74 1.32 1.30 2.13 8.31 12.17 42.00
Close Chg 23.97 11.75 72.94 161.85 170.25 2.15 3.91 1.41 11.71 177.44 14.67 10.33 107.34 28.57 12.65 122.40 8.92 1.79 1.34 2.31 8.53 12.17 42.37
0.60 0.35 -1.01 -1.19 2.23 0.04 -0.07 0.04 0.01 1.39 -0.06 -0.02 0.47 0.21 -0.53 2.38 0.19 0.21 0.01 -0.29 0.04 -1.00 0.27
Close 1,163.54 Listed cap 52,251.88 mn Payout (%) 48.81
Change 8.11 Market cap 264,529.18 mn Div Yield (%) 6.85
Last 60 days High Low
Volume 32165 33045 5000 882 5421 1002 19045 95540 507 1310650 759251 75194 1138008 2956478 1615009 533203 18301701 463 85360 24366 33141 3620 1602
27.79 16.78 82.50 174.00 185.88 3.15 5.45 2.21 13.60 194.59 15.20 12.46 113.39 30.65 13.85 128.30 9.07 3.24 1.80 3.80 11.09 17.99 48.00
% Change 0.70 5-Day High 1,163.54 5-Day Low 1,138.36
2009 Div BR (%) (%)
2010 Div BR (%) (%)
21.15 10.00 66.90 90 154.00 125 155.38 40 10B 1.78 3.20 1.28 10.85 15 165.60 6010B 40R 9.57 - 27.5R 9.02 102.96 131.5 10B 26.59 40 7.41 109.50 80 6.75 5 1.06 1.16 2.00 7.67 12.17 10 10B 41.00 50 -
5 15 20 15 20 75 5 55 50
10R -
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,150.62 Turnover 129,662 P/E (x) 5.99
High Low 1,164.40 1,144.57 Total cos Defaulter cos P/BV (x) ROE (%) 0.45 7.47
Close 1,154.94 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Century Paper 707 Pak Paper ProductXDXB 50 Security Paper 411
4.16 4.73
19.14 40.51 39.60
19.48 40.00 40.00
18.71 40.00 39.99
19.11 -0.03 40.00 -0.51 40.00 0.40
128924 133 605
Change 4.32 Market cap 3,204.51 mn Div Yield (%) 4.22
Last 60 days High Low 22.70 62.85 50.40
16.44 39.50 38.10
2009 Div BR (%) (%)
2010 Div BR (%) (%)
- 425R 20 50 -
25 33.33B 50 -
INDUSTRIAL METALS AND MINING
Company
High Low 970.71 951.91 Total cos Defaulter cos P/BV (x) ROE (%) 0.98 33.10
Paid up Cap(mn)
PE
Open
High
Low
565 675 555 1199
3.38 5.45 4.59
25.01 2.10 12.82 47.87
25.20 2.23 13.00 47.89
24.70 2.03 12.60 46.90
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind
Close Chg 24.98 2.06 12.69 47.12
-0.03 -0.04 -0.13 -0.75
Close 958.31 Listed cap 3,596.11 mn Payout (%) 30.91
Change -4.80 Market cap 8,959.40 mn Div Yield (%) 10.39
Last 60 days High Low
Volume 17928 9776 7976 78863
31.73 3.20 16.75 70.71
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd
-
30B -
30 40
20B
Berger Paints Buxly Paints Cherat Cement Dadabhoy Cement Dandot Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Flying Cement Ltd Javedan Cement Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Pioneer Cement Safe Mix Concrete
High Low 937.36 905.51 Total cos Defaulter cos P/BV (x) ROE (%) 0.56 7.10
Close 918.47 Listed cap 54,792.74 mn Payout (%) 19.04
Change 1.50 Market cap 68,853.63 mn Div Yield (%) 2.43
% Change 0.16 5-Day High 918.47 5-Day Low 894.50
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5.03 -
3.11 64.04 1.79
3.29 64.80 1.85
2.96 62.85 1.25
3.25 0.14 63.20 -0.84 1.26 -0.53
98458 214257 101
4.40 72.40 2.05
2.80 62.00 1.01
50 -
20B -
- 100R 50 -
182 14 5.87 956 982 11.69 948 -
14.52 10.90 11.01 1.69 1.80
15.45 10.50 11.29 1.75 1.80
14.35 10.50 10.32 1.52 1.80
14.61 10.50 11.29 1.52 1.80
0.09 -0.40 0.28 -0.17 0.00
8434 1000 553 1001 431
20.00 14.94 12.50 2.74 3.90
14.01 10.50 8.90 1.30 1.02
-
-
- 122R -
3574 3651 34.71 350 6933 11.85 1760 581 1288 13126 3234 6.53 3723 2228 200 -
1.60 24.65 3.55 4.77 1.90 60.00 5.85 2.85 72.49 2.87 8.10 6.88
1.66 25.33 3.66 4.85 1.95 62.00 6.00 2.90 73.34 2.93 8.40 7.25
1.55 24.80 2.63 4.72 1.75 57.99 5.82 2.75 72.50 2.76 7.26 6.48
1.60 24.99 3.00 4.74 1.87 59.36 5.98 2.76 72.63 2.82 8.03 6.51
0.00 0.34 -0.55 -0.03 -0.03 -0.64 0.13 -0.09 0.14 -0.05 -0.07 -0.37
133320 5241179 10287 400385 29468 1297 5358 668973 754386 156147 80059 1060
2.20 28.74 5.15 5.50 2.37 66.10 7.10 3.46 73.88 3.84 8.47 9.47
1.30 23.02 2.11 4.50 1.75 56.05 5.50 2.60 62.60 2.51 6.80 5.50
1828 866 858
2009 Div BR (%) (%)
- 20R - 200R 40 -
2010 Div BR (%) (%)
40 -
20R -
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 892.91 Turnover 175,909 P/E (x) 2.59 Company
Paid up Cap(mn)
Cherat PapersackSPOT ECOPACK Ltd Ghani GlassSPOT MACPAC Films Packages Ltd Siemens Engineering Tri-Pack Films
Current High Low Change
9,929.57 9,976.41 9,864.30 h65.27
16,161.43 16,234.78 16,020.08 h141.35
PE
Open
High
High Low 912.02 876.62 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 43.91 Low
Close Chg
92 4.43 47.06 47.81 46.00 46.52 -0.54 230 2.00 2.14 1.84 2.00 0.00 970 6.11 60.20 60.40 59.50 59.66 -0.54 389 2.98 2.90 2.40 2.42 -0.56 844 15.44 102.16 103.01 100.11 101.88 -0.28 82 10.25 1150.00 1207.50 1120.00 1150.00 0.00 300 8.24 101.86 102.80 102.40 102.70 0.84
Close 890.44 Listed cap 3,043.31 mn Payout (%) 15.55
Volume 59120 10960 6688 7001 85533 515 6001
Change -2.47 Market cap 33,108.99 mn Div Yield (%) 6.01
Last 60 days High Low 51.05 34.00 2.89 1.70 61.99 54.65 4.69 2.21 125.96 98.00 1299.75 1014.91 105.00 91.00
% Change -0.28 5-Day High 894.73 5-Day Low 890.44
2009 Div BR (%) (%)
2010 Div BR (%) (%)
30 32.5 900 100
20 25 300 -
10B -
25B 10B -
Change 1.01 Market cap 12,327.97 mn Div Yield (%) 2.02
Open
High
Low
Close Chg
Volume
Last 60 days High Low
7.86 5.28
64.04 38.50
65.00 39.00
63.02 38.25
64.06 38.70
17468 1412
87.86 41.00
0.02 0.20
62.75 34.50
2009 Div BR (%) (%) 30
20B -
Open 1,071.82 Turnover 208,988 P/E (x) 3.74 Paid up Cap(mn)
Agriautos Ind Atlas Battery Atlas Engineering Ltd Atlas Honda Dewan Motors General Tyre XD Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus Motors XD Pak Suzuki Sazgar Engineering Transmission
PE
Open
144 5.11 69.77 101 5.20 137.27 247 11.64 17.00 626 6.80 97.50 890 1.39 598 6.17 22.93 450 4.16 200 3.84 4.74 1428 - 10.96 786 5.13 226.96 823 9.17 73.97 125 6.36 24.59 117 2.19 1.90
High
High Low 1,084.20 1,047.49 Total cos Defaulter cos P/BV (x) ROE (%) 0.95 25.35 Low
Close Chg
71.00 70.00 70.00 0.23 138.00 137.00 137.97 0.70 17.00 17.00 17.00 0.00 98.00 94.00 97.69 0.19 1.41 1.30 1.34 -0.05 23.38 22.50 22.52 -0.41 4.60 4.10 4.13 -0.03 4.80 4.20 4.57 -0.17 11.00 10.20 10.71 -0.25 229.00 220.00 224.68 -2.28 74.98 73.12 73.80 -0.17 24.96 24.20 24.50 -0.09 2.44 1.75 2.19 0.29
Close 1,065.36 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Change -6.47 Market cap 38,478.72 mn Div Yield (%) 5.46
Last 60 days High Low
3402 78.39 3735 209.00 1000 19.80 2578 127.99 137602 2.24 6810 28.80 18810 6.50 2203 5.70 3051 14.50 14726 287.00 1244 89.99 6313 27.85 7514 3.25
63.01 131.00 15.90 92.00 1.16 21.71 4.03 3.55 9.65 212.29 69.25 23.91 1.53
2010 Div BR (%) (%) 40 15
-
% Change -0.60 5-Day High 1,071.82 5-Day Low 1,045.63
2009 Div BR (%) (%)
2010 Div BR (%) (%)
40 100 20B - 100R 80 30B 100 5 - 20B 2 -
90 100 20 150 10 -
20B 20B -
Change -0.77 Market cap 30,595.51 mn Div Yield (%) 16.56
% Change -0.05 5-Day High 1,444.75 5-Day Low 1,349.49
Company
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
2009 Div BR (%) (%)
2010 Div BR (%) (%)
Ados Pak
66
4.00
20.65
19.65
19.62
19.62 -1.03
765
22.69
18.90
20
-
-
-
AL-Ghazi Tractor Bolan CastingSPOT
215 95
5.06 215.18 5.78 50.43
217.00 213.00 213.07 -2.11 51.99 50.01 50.04 -0.39
1807 22217
227.45 51.99
200.26 35.25
400 -
20B
150 25
10B
Ghandhara Ind Millat TractorsXDXB
213 366
1.93 13.25 5.69 442.52
13.55 12.25 12.25 -1.00 448.50 441.50 443.82 1.30
116404 128219
19.80 597.90
12.25 390.00
450
25B
650
25B
Hira Textile Mills Limited
Fundamental Highlights As on Jun 30, 2009
Technical Analysis RSI (14-day)
68.94
Total Assets (Rs in mn)
MA (10-day)
4.05
Total Equity (Rs in mn)
1,063.41
MA (100-day)
3.70
Revenue (Rs in mn)
3,223.46 2,524.73
MA (200-day)
3.78
Interest Expense
1st Support
4.15
Profit after Taxation
2nd Support
3.55
EPS 09 (Rs)
0.026
1st Resistance
5.10
Book value / share (Rs)
14.86
341.03 1.88
2nd Resistance
5.45
PE 10 E (x)
1.67
Pivot
4.50
PBV (x)
0.31
HIRAT closed up 0.55 at 4.68. Volume was 2,372 per cent above average (trending) and Bollinger Bands were 34 per cent narrower than normal. The company's profit after taxation stood at Rs150.04 million which translates into an Earning Per Share of Rs2.10 for the nine months of fiscal year (9MFY10). HIRAT is currently 23.8 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into HIRAT (bullish). Trend forecasting oscillators are currently bullish on HIRAT.
D. S. Industries Limited
FOOD PRODUCERS Performance of SR Food Producers Index Open 1,459.46 Turnover 83,778 P/E (x) 31.21 Company
Paid up Cap(mn)
Abdullah Shah Ghazi Sugar 793 Chashma Sugar 287 Clover PakistanSPOT 94 Habib Sugar 600 Habib-ADM Ltd XD 200 Ismail IndSPOT 505 J D W Sugar 490 Kohinoor Sugar 109 Mirza Sugar 141 National Foods XD 414 Noon Sugar 165 Premier Sugar 38 Punjab Oil 38 Quice Food 107 Rafhan Maize 92 Sanghar Sugar 119 Shahmurad Sugar 211 Shakarganj Mills 695 Tandlianwala 1177 UniLever Pakistan XD 665
PE
Open
High
High Low 1,493.42 1,442.05 Total cos Defaulter cos P/BV (x) ROE (%) 9.46 30.30 Low
Close Chg
16.15 8.38 9.38 7.50 8.40 0.74 9.14 9.15 9.15 9.15 27.58 46.00 45.70 44.10 44.13 6.01 29.30 29.75 29.02 29.14 3.65 13.74 13.50 12.90 13.00 13.00 74.90 76.45 73.50 76.45 2.21 66.00 66.00 66.00 66.00 4.70 5.40 4.00 4.45 0.31 4.85 4.95 4.95 4.95 19.82 40.43 41.50 40.22 41.43 - 11.20 11.10 11.10 11.10 6.06 34.01 35.70 32.50 33.01 2.59 35.50 34.00 34.00 34.00 3.34 2.90 2.76 2.85 6.35 1246.91 1309.25 1308.00 1309.25 1.00 13.90 14.00 13.80 14.00 16.65 11.49 11.49 10.77 11.49 4.09 5.00 3.90 4.01 259.09 29.20 28.50 28.00 28.50 22.34 3993.29 4079.99 3952.00 3990.00
0.02 0.01 -1.87 -0.16 -0.74 1.55 0.00 -0.25 0.10 1.00 -0.10 -1.00 -1.50 -0.49 62.34 0.10 0.00 -0.08 -0.70 -3.29
Close 1,464.26 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
Change 4.80 Market cap 189,255.77 mn Div Yield (%) 0.98
Last 60 days High Low
130 11.70 1.12 1000 11.40 8.00 268 50.00 33.33 22429 30.44 23.50 12969 16.98 12.90 102 76.90 53.64 1100 67.90 60.10 6787 8.50 2.11 400 5.70 3.55 865 65.29 40.05 166 14.35 10.00 1604 43.60 32.50 1000 38.95 32.80 2500 3.35 1.60 113 1599.00 1214.24 1120 14.90 11.50 1003 11.90 7.40 27889 5.00 3.02 1859 35.50 22.45 351 4200.00 3710.00
% Change 0.33 5-Day High 1,464.26 5-Day Low 1,450.02
Fundamental Highlights As on Jun 30, 2009
Technical Analysis
2009 Div BR (%) (%)
2010 Div BR (%) (%)
RSI (14-day)
38.71
Total Assets (Rs in mn)
838.18
MA (10-day)
1.61
Total Equity (Rs in mn)
(298.62)
MA (100-day)
2.05
Revenue (Rs in mn)
35 40 15 40 50 30 15 900 10 15 458
15 40 17.5 110R 0 12.5R 12 15 28R 600 178 -
MA (200-day)
2.64
Interest Expense
1st Support
1.40
Loss after Taxation
(984.14)
2nd Support
1.37
EPS 09 (Rs)
(16.402)
1st Resistance
1.53
Book value / share (Rs)
2nd Resistance
1.63
PE 10 E (x)
Pivot
1.50
PBV (x)
25B 25B 10B 25B -
653.74 130.20
(4.98) (0.30)
DSIL closed unchanged at 1.50. Volume was 1,492 per cent above average (trending) and Bollinger Bands were 23 per cent narrower than normal. The company's loss after taxation stood at Rs30.829 million which translates into a Loss Per Share of Rs0.51 for the nine months of fiscal year (9MFY10). DSIL is currently 43.1 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into DSIL (mildly bullish). Trend forecasting oscillators are currently bearish on DSIL.
HOUSEHOLD GOODS
WorldCall Telecom Limited
Performance of SR Household Goods Index Open 1,045.08 Turnover 834,903 P/E (x) 3.10 Company
Close 1,049.48 Listed cap 3,763.71 mn Payout (%) 6.27
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
96 1174 231
3.18 2.96 2.80
31.30 13.77 17.45
32.86 14.10 17.55
29.81 13.80 16.70
32.79 1.49 13.84 0.07 17.18 -0.27
353 792453 42006
Paid up Cap(mn)
Accord Textile Ali Asghar Textile Amtex Limited XD Artistic Denim Aruj Garments Ashfaq Textile Azgard Nine Babri Cotton Bannu Woolen Bata (Pak) Chakwal Spinning Chenab Limited Colgate Palm Colony Mills Ltd D S Ind Ltd Dawood Lawrencepur Din TextileSPOT Ellcot Spinning Faisal Spinning Gadoon Textile Gillette Pakistan Gul Ahmed Textile Gulistan Spinning Gulshan Spinning Hajra Textile Hira Textile Mills Ltd. Ibrahim Fibres Idrees Textile Indus Dyeing Int Knitwear XD Ishaq Textile J K SpinningXDXB Janana D Mal Kohinoor Ind Kohinoor Spinning Kohinoor Textile Leather Up Maqbool Textile Mehmood Textile Mian Textile Nagina Cotton Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Premium Textile Prosperity Quetta Textile Ravi Textile Reliance Weaving Rupali Poly Saif Textile Sally Textile Salman Noman Samin Textile XR Sapphire Fibre Sapphire Textile Sargoda Spinning Service Ind Service Textile Shahpur Textile Shahtaj Textile Shams Textile Shield Corp Suraj Cotton Tata Textile XD Thal Limited Treet Corp Tri-Star Poly Yousuf Weaving Zephyr Textile Ltd Zil Limited
Change 4.40 Market cap 5,540.31 mn Div Yield (%) 2.02
Last 60 days High Low 32.86 15.95 19.12
26.60 12.17 14.05
2009 Div BR (%) (%) 7.5 -
10B -
% Change 0.42 5-Day High 1,053.21 5-Day Low 1,045.08 2010 Div BR (%) (%) -20B 20R - 10B 17.5 -
PERSONAL GOODS
RSI (14-day)
57.57
Total Assets (Rs in mn)
17,566.02
MA (10-day)
2.45
Total Equity (Rs in mn)
11,379.05
MA (100-day)
2.92
Revenue (Rs in mn)
MA (200-day)
3.67
Interest Expense
1st Support
2.46
Loss after Taxation
2nd Support
2.34
EPS 09 (Rs)
1st Resistance
2.72
Book value / share (Rs)
2nd Resistance
2.86
PE 10 E (x)
Pivot
2.60
PBV (x)
PE
High Low 933.02 905.15 Total cos Defaulter cos P/BV (x) ROE (%) 0.53 8.64
Close 918.63 Listed cap 47,070.70 mn Payout (%) 16.68
Open
High
Low
Close Chg
Volume
93 0.34 222 1.38 2415 3.20 12.20 840 5.31 20.15 62 8.33 4.72 70 2.20 4.00 4493 259.75 10.29 29 0.48 17.75 76 1.00 10.45 76 4.41 470.11 400 1.68 1.56 1150 3.53 316 15.39 705.00 2442 2.44 2.90 600 1.50 514 9.81 40.24 185 1.36 25.32 110 1.72 21.25 100 0.77 31.15 234 1.23 44.66 192 47.33 61.10 635 2.79 20.01 146 2.42 6.13 185 1.45 7.39 138 0.69 716 1.67 4.13 3105 3.32 35.89 180 2.34 4.24 181 2.77 217.99 32 5.77 9.98 97 0.89 4.50 175 0.44 6.10 43 0.64 19.88 303 1.36 1300 1.14 1.19 1455 2.83 5.46 60 1.50 168 4.53 6.75 150 1.73 63.41 221 0.43 187 1.22 16.70 1586 2.33 18.32 3516 5.79 48.58 560 6.68 5.35 158 1.34 9.17 62 0.93 29.45 185 2.33 16.80 130 1.07 31.82 250 4.82 1.80 308 1.25 9.64 341 5.74 34.60 264 4.06 88 0.36 4.10 40 1.09 2.11 134 7.54 197 2.72 99.00 201 2.04 108.80 312 0.39 2.00 120 4.78 185.96 44 0.10 0.55 140 1.32 0.94 97 1.79 19.42 86 1.11 17.63 39 9.44 51.05 180 1.30 36.88 173 0.69 16.64 256 4.00 105.49 418 7.83 37.66 215 0.60 400 1.68 1.08 594 2.75 53 6.89 39.02
0.30 1.00 12.45 21.15 4.75 4.00 10.65 17.01 11.45 470.00 2.56 3.70 740.25 3.20 1.60 41.00 26.40 21.40 31.15 46.89 63.89 21.01 7.13 8.39 0.99 4.85 35.89 4.50 220.00 10.90 4.25 6.50 19.90 1.49 1.44 5.84 1.90 7.75 66.58 0.59 16.75 19.15 49.90 6.15 10.17 29.00 16.70 30.60 1.98 10.64 35.40 4.65 4.79 3.11 7.27 100.00 108.80 2.20 195.25 0.14 1.00 20.20 18.00 53.60 37.50 17.64 108.49 38.75 0.50 1.35 3.40 40.69
0.30 1.00 11.86 20.48 4.75 4.00 10.30 17.01 11.45 446.61 1.30 3.45 680.00 2.26 1.47 39.00 25.90 20.25 31.10 44.75 60.05 20.99 7.13 7.13 0.99 3.90 35.89 4.10 209.50 10.90 4.25 5.50 19.00 1.25 1.25 5.36 1.89 7.75 62.00 0.51 16.11 18.02 48.75 5.45 9.00 29.00 15.95 30.23 1.84 9.10 35.00 4.27 4.00 3.00 7.25 94.05 103.36 1.51 184.01 0.14 0.70 19.40 16.75 52.00 35.11 17.55 104.00 37.66 0.26 1.08 2.50 39.00
0.30 -0.04 1.00 -0.38 11.98 -0.22 21.15 1.00 4.75 0.03 4.00 0.00 10.39 0.10 17.01 -0.74 11.45 1.00 446.61-23.50 1.70 0.14 3.54 0.01 716.71 11.71 2.90 0.00 1.50 0.00 41.00 0.76 26.40 1.08 20.26 -0.99 31.13 -0.02 45.98 1.32 63.89 2.79 20.99 0.98 7.13 1.00 7.99 0.60 0.99 0.30 4.68 0.55 35.89 0.00 4.10 -0.14 209.71 -8.28 10.90 0.92 4.25 -0.25 6.50 0.40 19.50 -0.38 1.46 0.10 1.25 0.06 5.41 -0.05 1.89 0.39 7.75 1.00 66.56 3.15 0.58 0.15 16.16 -0.54 18.42 0.10 49.24 0.66 6.15 0.80 9.20 0.03 29.00 -0.45 16.03 -0.77 30.23 -1.59 1.88 0.08 10.13 0.49 35.02 0.42 4.63 0.57 4.47 0.37 3.01 0.90 7.26 -0.28 99.93 0.93 103.36 -5.44 1.51 -0.49 185.55 -0.41 0.14 -0.41 0.95 0.01 20.00 0.58 16.76 -0.87 53.60 2.55 36.49 -0.39 17.64 1.00 106.85 1.36 37.98 0.32 0.34 -0.26 1.23 0.15 2.99 0.24 40.26 1.24
1000 2500 194683 92608 1000 490 1856481 500 5454 565 5830 152206 128 69254 1389217 390 2100 9729 200 8520 1078 600 1157 83851 1250 2093964 16100 12036 101 10000 2020 1568 4503 176 3602 27061 108 500 717 1024 10750 9654361 7451911 12305 14847 200 7170 620 289957 28805 124 35648 63024 378 3001 1074 708 5956 1778 5000 1121 22948 2009 212 19526 16940 115546 97952 6264 2402 11504 664
Change 0.51 Market cap 113,386.85 mn Div Yield (%) 2.72
Last 60 days High Low 0.50 2.21 20.45 21.25 6.70 4.90 13.40 18.75 11.45 579.99 2.56 4.98 770.00 5.00 2.49 51.99 30.90 25.45 34.00 48.30 73.00 23.00 7.13 8.39 1.15 4.85 41.00 5.35 269.50 10.90 4.99 10.30 19.95 2.00 1.80 6.30 2.50 10.51 74.50 1.40 17.18 19.49 53.14 7.90 10.17 30.90 21.47 52.29 4.69 12.00 36.75 5.44 4.98 3.11 8.69 105.00 124.80 2.45 228.00 0.69 2.26 21.50 18.00 59.99 37.50 19.70 114.99 49.49 1.36 1.90 4.99 46.12
0.30 0.40 11.86 17.55 3.50 3.00 8.55 9.50 7.50 446.61 0.70 2.93 555.00 2.23 1.44 37.08 23.75 20.25 24.55 33.80 57.50 19.99 5.00 5.31 0.13 2.52 34.30 2.55 199.70 7.00 2.86 4.75 9.95 1.01 0.56 4.00 1.00 3.25 59.00 0.01 12.00 14.64 40.81 5.30 6.00 24.90 15.75 30.23 1.38 6.91 31.35 2.01 2.74 1.30 5.02 91.50 100.00 0.31 176.50 0.14 0.25 14.75 15.00 49.60 29.50 12.75 97.00 37.20 0.26 0.73 1.50 33.00
2009 Div BR (%) (%)
% Change 0.06 5-Day High 925.76 5-Day Low 915.38 2010 Div BR (%) (%)
30 20 20 - 15B 20 120 115 15B 5 20 10B 7.5 35 7.5 50 70 5 - 12.5 - 10B - 10B 10 20B 20 10 15 6 8 20 5B 5 4050.2257B 60 - 20SD - 50R 15 20 25 45R 12.5 - 10B 10 10B 7.5 50 20 30 - 632R 20 40 40 - 100R 15 50 5 200 20 45 20 - 30B 10 15 50 25 20 20B 80 20B 4 40 10B 35 -
PHARMA AND BIO TECH Open 831.76 Turnover 29,971 P/E (x) 6.63 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Otsuka Pak Sanofi-Aventis Searle Pak
Paid up Cap(mn) 979 208 1707 165 200 100 96 306
Fundamental Highlights As on Dec 31, 2009
Technical Analysis
Performance of SR Personal Goods Index Open 918.12 Turnover 23,939,788 P/E (x) 6.14 Company
High Low 1,057.50 1,038.71 Total cos Defaulter cos P/BV (x) ROE (%) 0.33 10.64
Performance of SR Pharma and Bio Tech Index
Close 1,443.98 Listed cap 1,336.62 mn Payout (%) 131.49
Alert ! Unusual Movements
% Change 0.15 5-Day High 708.53 5-Day Low 692.85
Performance of SR Automobile and Parts Index
Performance of SR Industrial Engineering Index High Low 1,459.08 1,436.92 Total cos Defaulter cos P/BV (x) ROE (%) 3.02 38.02
Close 693.86 Listed cap 3,242.17 mn Payout (%) 11.08
AUTOMOBILE AND PARTS
INDUSTRIAL ENGINEERING Open 1,444.75 Turnover 269,551 P/E (x) 7.94
High Low 702.73 683.55 Total cos Defaulter cos P/BV (x) ROE (%) 1.40 25.53
PE
2010 Div BR (%) (%)
CONSTRUCTION AND MATERIALS
Company
Pak Int Cont. Terminal XD 1092 PNSC XD 1321
% Change -0.50 5-Day High 966.50 5-Day Low 953.31
2009 Div BR (%) (%)
23.75 1.65 12.25 46.90
Paid up Cap(mn)
AL-Abid Silk Pak Elektron Tariq Glass Ind
Performance of SR Construction and Materials Index Open 916.97 Turnover 7,805,186 P/E (x) 7.82
Company
% Change 0.38 5-Day High 1,160.60 5-Day Low 1,142.91
Performance of SR Industrial Metals and Mining Index Open 963.12 Turnover 114,548 P/E (x) 2.97
Open 692.85 Turnover 18,880 P/E (x) 5.50
Company
CHEMICALS Performance of SR Chemicals Index
Company
Current High Low Change
INDUSTRIAL TRANSPORTATION
Open
Paid up Cap(mn)
7,151.19 7,186.99 7,106.90 h44.29
Performance of SR Industrial Transportation Index
PE
Company
Current High Low Change
KMI 30 Index
OIL AND GAS
Paid up Cap(mn)
Attock Petroleum Attock Refinery BYCO Petroleum Mari Gas Company National Refinery
10,260.48 10,310.85 10,191.68 h68.80
KSE 30 Index
Performance of SR Oil and Gas Index Open 1,267.60 Turnover 6,411,546 P/E (x) 10.97 Company
Current High Low Change
211 149 24 384
All Share Index
PE
Open
8.06 91.42 7.15 109.51 12.36 67.20 6.52 24.24 17.18 8.01 4.26 28.47 7.87 121.99 5.37 62.95
High
High Low 838.28 824.96 Total cos Defaulter cos P/BV (x) ROE (%) 1.48 22.31 Low
Close Chg
92.00 91.00 92.00 0.58 110.25 104.58 109.00 -0.51 68.59 68.00 68.48 1.28 24.00 24.00 24.00 -0.24 8.00 7.45 7.73 -0.28 29.59 28.00 28.06 -0.41 116.57 115.90 116.20 -5.79 63.00 62.65 62.65 -0.30
Close 833.87 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 2000 2301 6512 1000 1201 1862 1164 13920
95.50 124.00 83.77 25.79 8.66 34.99 133.00 64.19
77.00 96.00 65.00 22.10 6.10 27.50 115.90 53.36
523.03 (490.82) (0.570) 13.22 0.20
WTL closed up 0.15 at 2.60. Volume was 507 per cent above average and Bollinger Bands were 55 per cent narrower than normal. The company's loss after taxation stood at Rs410.586 million which translates into a Loss Per Share of Rs0.48 for the half year of current calendar year (1HCY10). WTL is currently 29.0 per cent below its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of WTL at a relatively equal pace. Trend forecasting oscillators are currently bullish on WTL.
Nishat (Chunian) Limited
Fundamental Highlights As on Jun 30, 2009
Technical Analysis RSI (14-day)
66.27
Total Assets (Rs in mn)
12,016.81
MA (10-day)
17.09
Total Equity (Rs in mn)
3,102.47
MA (100-day)
16.75
Revenue (Rs in mn)
9,964.55 1,081.54
MA (200-day)
18.89
Interest Expense
1st Support
17.95
Profit after Taxation
2nd Support
17.42
EPS 09 (Rs)
1.249
1st Resistance
19.08
Book value / share (Rs)
37.51
2nd Resistance
19.68
PE 10 E (x)
3.41
Pivot
18.55
PBV (x)
0.49
103.34
NCL closed up 0.10 at 18.42. Volume was 686 per cent above average (trending) and Bollinger Bands were 9 per cent narrower than normal. The company's profit after taxation stood at Rs400.039 million which translates into an Earning Per Share of Rs4.05 for the nine months of fiscal year (9MFY10). NCL is currently 2.5 per cent below its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NCL (mildly bullish). Trend forecasting oscillators are currently bullish on NCL.
BOOK CLOSURES Company
From
To
Merit Packaging Al-Meezan Mutual Fund Ghandhara Industries Habib ADM Meezan Balanced Fund Bolan Castings Cherat Cement Clover Pakistan Gatron (Industries) Ismail Industries Cherat Papersack Ecopack Ltd JS Value Fund Din Textile Mills Ghani Glass Nimir Ind Chemicals Pakistan Refinery First Habib Bank Mod
09-Oct 11-Oct 11-Oct 11-Oct 11-Oct 12-Oct 12-Oct 12-Oct 12-Oct 12-Oct 13-Oct 13-Oct 13-Oct 14-Oct 14-Oct 14-Oct 14-Oct 15-Oct
15-Oct 19-Oct 19-Oct 20-Oct 19-Oct 25-Oct 26-Oct 18-Oct 18-Oct 19-Oct 27-Oct 26-Oct 20-Oct 20-Oct 20-Oct 21-Oct 20-Oct 22-Oct
D/B/R 8.5(F) 40 5.5(F) 25,10(B) 15(F) 20 17.5 20,20(B) 20,10(B) 25,10(B) 11(F)
Spot AGM/Date 01-Oct 01-Oct 01-Oct 04-Oct 04-Oct 04-Oct 05-Oct 06-Oct -
15-Oct 19-Oct 20-Oct 25-Oct 26-Oct 18-Oct 18-Oct 18-Oct 27-Oct 26-Oct 20-Oct 20-Oct 20-Oct 21-Oct 20-Oct 25-Oct
INDICATIONS
Change 2.11 Market cap 28,130.25 mn Div Yield (%) 6.72
Last 60 days High Low
8,408.28
2009 Div BR (%) (%) 120 10 50 25 15 70 15
20B 15B
% Change 0.25 5-Day High 833.87 5-Day Low 819.69 2010 Div BR (%) (%) 20 30
20B -
# Extraordinary General Meeting
OTHER SECTORS Symbols TRG Pakistan Ltd. Indus Fruit Murree Brewery Shezan International Grays of Cambridge Lakson Tobacco Pak Tobacco Shifa Int.Hosp.XD Eye Television Pak Hotels P.I.A.C.(A) AKD Capital Pace (Pak) Ltd. Netsol Technol. Pak Telephone
Open 4.39 1 91.04 98.5 58.4 353.86 113.88 31.7 22.8 58.98 2.1 57.02 3.02 17.66 1.53
High 4.55 1 95.5 100 58.7 371.55 114.9 33 23.94 61.92 2.34 59.87 3.04 18.59 2.15
Low Close 4.21 1 91.5 94.51 55.48 365 113.5 30.12 22 56.05 2.14 56 2.83 17.7 1.1
4.28 1 92 98 55.56 371.55 113.5 30.12 23.8 56.05 2.26 59.87 2.86 18.37 2.15
Change -0.11 0 0.96 -0.5 -2.84 17.69 -0.38 -1.58 1 -2.93 0.16 2.85 -0.16 0.71 0.62
Vol 3762181 15000 4035 441 501 31823 703 1713 6190 104 120782 52157 1804098 966060 148
7
Saturday, October 9, 2010
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,109.94 Turnover 12,229,230 P/E (x) 6.14 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
PE
78 37740 3000 8606 6175
High Low 1,134.60 1,102.98 Total cos Defaulter cos P/BV (x) ROE (%) 0.79 12.84
Open
High
Low
Close Chg
4.80 102.46 9.18 19.19 2.11 2.45 3.81
104.89 19.45 2.28 2.74 3.90
97.34 19.07 2.10 2.48 3.70
97.34 19.27 2.18 2.60 3.89
Close 1,117.79 Listed cap 50,077.79 mn Payout (%) 62.56
Last 60 days High Low
Volume
-5.12 0.08 0.07 0.15 0.08
4740 2516984 835161 8872345 489182
Change 7.85 Market cap 78,781.67 mn Div Yield (%) 10.19
120.61 20.22 3.15 3.30 6.13
97.34 17.32 1.80 2.30 3.60
% Change 0.71 5-Day High 1,117.79 5-Day Low 1,093.33
2009 Div BR (%) (%) 70 15 -
-
2010 Div BR (%) (%) 80 17.5 -
Ask Gen Insurance Atlas Insurance Central Insurance XB Century Insurance EFU General Ins. XB Habib Insurance IGI Insurance Pak Reinsurance Premier Insurance Reliance Insurance XB Silver Star Insurance
204 6.28 369 4.30 279 4.94 457 5.80 1250 28.68 400 7.09 718 13.06 3000 303 4.57 252 4.45 253 1.63
Paid up Cap(mn)
Company
PE
Open
High
Low
198 11572 6.14 1560 7932 1695 5.79 126 2.83 8803 7.17 Nishat Chunian Power Ltd 3673 Nishat Power Ltd 3541 88.57 S G Power 178 Sitara Energy Ltd 191 3.83 Southern Electric 1367 5.46 Tri-star Power XD 150 -
0.75 33.03 1.51 2.08 23.50 5.50 41.36 11.50 12.42 0.36 21.66 2.20 0.75
0.95 33.50 1.84 2.34 23.90 5.69 41.60 11.55 12.70 0.75 22.35 2.35 0.89
0.64 33.02 1.30 2.00 23.10 5.10 41.26 11.25 12.30 0.37 20.58 2.08 0.65
Genertech Hub Power Japan Power KESC Kohinoor Energy Kohinoor Power Kot Addu Power
Close 1,143.86 Listed cap 95,369.29 mn Payout (%) 104.13
Change 2.69 Market cap 97,063.07 mn Div Yield (%) 8.35
% Change 0.24 5-Day High 1,143.86 5-Day Low 1,129.49
Close Chg
Volume
Last 60 days High Low
2009 Div BR (%) (%)
0.95 33.14 1.40 2.09 23.50 5.10 41.47 11.50 12.40 0.37 21.50 2.13 0.75
106 1763627 34917 1294826 2009 600 347880 676718 1063573 132 15810 271440 999
1.53 37.24 2.38 2.63 26.50 7.00 44.85 11.55 12.70 1.60 23.49 3.21 1.60
33.5 45 64.5 20 3
0.20 0.11 -0.11 0.01 0.00 -0.40 0.11 0.00 -0.02 0.01 -0.16 -0.07 0.00
0.51 32.75 0.70 1.92 23.00 3.90 39.51 9.50 9.25 0.23 20.00 2.08 0.33
31R -
Open 823.69 Turnover 36,354 P/E (x) 76.37
GAS WATER AND MULTIUTILITIES Open 1,705.48 Turnover 4,260,678 P/E (x) 12.72 Paid up Cap(mn)
Company Sui North Gas Sui South Gas
High Low 1,733.55 1,696.80 Total cos Defaulter cos P/BV (x) ROE (%) 1.45 11.41
Close 1,708.96 Listed cap 12,202.80 mn Payout (%) 66.79
Change 3.48 Market cap 38,018.37 mn Div Yield (%) 5.25
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 19.16 6712 4.58
32.75 29.80
33.40 30.23
32.47 29.71
32.58 -0.17 29.99 0.19
2670373 1590305
33.40 30.70
25.00 16.00
% Change 0.20 5-Day High 1,708.96 5-Day Low 1,663.98
2009 Div BR (%) (%) -
-
2010 Div BR (%) (%) 15
25B
BANKS Performance of SR Banks Index Open 963.41 Turnover 19,543,406 P/E (x) 6.88 Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 5.64 51.55 Askari Bank 6427 6.08 14.69 Atlas Bank 5001 2.30 Bank Alfalah 13492 12.15 9.02 Bank AL-Habib 7322 6.92 32.02 Bank Of Khyber 5004 3.14 3.06 Bank Of Punjab 5288 8.29 BankIslami Pak 5280 3.15 Faysal Bank 6091 3.13 13.56 Habib Bank Ltd 10019 6.30 95.13 Habib Metropolitan Bank 8732 5.76 18.94 JS Bank Ltd 6128 2.54 KASB Bank Ltd 9509 2.39 MCB Bank Ltd 7602 9.12 195.38 Meezan Bank 6983 7.25 14.84 Mybank Ltd 5304 2.33 National Bank 13455 5.42 64.33 NIB Bank 40437 3.04 Royal Bank Ltd 17180 5.91 Samba Bank 14335 1.88 Silkbank Ltd 26716 13.64 3.02 Soneri Bank 6023 5.70 Stand Chart Bank 38716 9.00 6.40 Summit Bank Ltd 5000 2.86 United Bank Ltd 12242 6.15 52.26
High
High Low Close 981.26 956.97 967.73 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 0.93 13.45 34.35 Low
Close Chg
Volume
53.50 51.70 52.19 0.64 14.97 14.56 14.71 0.02 2.30 2.00 2.18 -0.12 9.29 9.00 9.11 0.09 32.49 32.00 32.11 0.09 3.20 2.57 3.14 0.08 8.45 8.06 8.31 0.02 3.43 3.10 3.14 -0.01 13.80 13.60 13.60 0.04 99.45 95.01 97.93 2.80 19.89 18.02 19.46 0.52 2.53 2.40 2.43 -0.11 2.70 2.41 2.54 0.15 197.90 194.75 195.59 0.21 15.00 14.60 14.93 0.09 2.38 2.23 2.23 -0.10 65.20 64.07 64.58 0.25 3.12 3.00 3.08 0.04 6.35 5.70 5.76 -0.15 2.05 1.86 1.87 -0.01 3.04 2.97 3.00 -0.02 5.87 5.61 5.75 0.05 6.67 6.26 6.30 -0.10 2.95 2.75 2.77 -0.09 52.50 52.05 52.25 -0.01
Change 4.32 Market cap 595,806.02 mn Div Yield (%) 4.99
Last 60 days High Low
570076 59.70 92043 17.46 223914 2.84 6650916 10.25 100052 34.00 394 4.75 657462 11.24 57930 3.87 5219 15.95 386646 109.10 10668 23.75 36351 3.00 5235 3.75 841515 214.99 52691 16.50 9511 3.28 1622553 73.89 3692361 3.50 29991 12.80 120353 2.90 3912065 3.30 3541 7.99 1171 8.50 27743 4.15 460746 60.20
48.51 13.99 1.52 7.32 29.10 2.50 7.35 2.31 12.75 92.00 18.02 2.00 2.03 180.40 13.80 1.62 60.51 2.42 5.20 1.55 2.15 5.01 6.00 2.30 49.90
2009 Div BR (%) (%) 40 8 20 60 10 110 75 25
10B 20B 20B 10B 16B 26B 10B 5B 25B 10B
% Change 0.45 5-Day High 967.73 5-Day Low 938.97
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 619.76 Turnover 924,412 P/E (x) 9.00 Paid up Cap(mn)
Company
Adamjee Insurance XD
PE
1237 12.26
Open 65.72
High 67.90
High Low 634.30 614.97 Total cos Defaulter cos P/BV (x) ROE (%) 0.47 5.20 Low 66.20
Close Chg 67.43 1.71
Close 625.40 Listed cap 11,111.34 mn Payout (%) 79.54
Volume 365416
Change 5.64 Market cap 40,587.28 mn Div Yield (%) 8.84
Last 60 days High Low 89.90
63.05
2009 Div BR (%) (%) 30
10B
% Change 0.91 5-Day High 625.40 5-Day Low 603.62 2010 Div BR (%) (%) 10
-
1484 5347 125 12125 24167 5204 200 432040 61700 1000 15556
High Low 837.14 822.84 Total cos Defaulter cos P/BV (x) ROE (%) 2.94 3.85
East West Life
455
-
2.41
3.00
2.50
2.76 0.35
EFU Life Assurance XB
850 32.88
60.82
63.00
60.00
60.50 -0.32
11.89 31.00 64.90 11.95 55.20 13.89 79.10 19.40 10.60 7.25 10.00
8.45 27.10 47.37 9.30 34.76 10.04 66.02 12.50 8.11 6.02 6.00
40 20 40 35 35 30 20 -
10B 25B 8.7B 15B 20B
10 10 -
UPTO 100 VOLUME
10B 20B -
Symbols AZAMT KOHTM SHCM COTT KSBP MSOT MERIT FTSM FZTM TOWL BWCL BTL NESTLE GRYL SSML PIL MRNS FCONM HINO FTHM GUTM SITC DIIL SNAI ESBL MIRKS WYETH CRTM FECTC FRCL MUKT BHAT GFIL CJPL TSMF STCL SCM KASBM FPJM SCLL ICCT UPFL STPL CSUML THCCL LPGL HADC NMBL DCM DATM DKTM HUSI GVGL SPLC NJLIC CSIL PKGI NPSM NATM SALT NCLNCP KML MOON GATI AABS ALNRS PNGRS GWLC MLCFPS PECO MDTL
Open
High
Low
Close Chg
Close 825.69 Listed cap 2,290.72 mn Payout (%) 355.53
Change 1.99 Market cap 8,852.02 mn Div Yield (%) 4.66
Last 60 days High Low
Volume 35500 853
3.15
2.05
84.99
51.25
% Change 0.24 5-Day High 825.69 5-Day Low 815.77
2009 Div BR (%) (%) -
2010 Div BR (%) (%)
10R
-
20R
5513.33B
-
-
FINANCIAL SERVICES Performance of SR Financial Services Index Open 346.24 Turnover 11,479,940 P/E (x) 0.43 Paid up Cap(mn)
Company
PE
Open
High
High Low 359.63 341.25 Total cos Defaulter cos P/BV (x) ROE (%) 0.16 37.22 Low
Close Chg
Close 349.95 Listed cap 30,336.44 mn Payout (%) 4.60
Change 3.70 Market cap 25,577.64 mn Div Yield (%) 10.65
Last 60 days High Low
Volume
% Change 1.07 5-Day High 349.95 5-Day Low 338.99
2009 Div BR (%) (%)
2010 Div BR (%) (%)
AMZ Ventures
225
-
0.55
0.65
0.55
0.58 0.03
15104
1.15
0.42
-
-
-
-
Arif Habib Invest. XB
360
6.99
13.97
14.97
13.50
14.95 0.98
42523
20.99
13.00
-
-
-
20B
450
6.56
26.16
26.80
26.01
26.30 0.14
63847
50.12
24.62
15
25B
-
20B
3750 250
2.29 -
22.54 1.89
23.54 2.10
22.53 1.90
23.15 0.61 1.90 0.01
4805658 2195
35.65 3.36
20.90 1.55
-
-
30 -
-
First Credit & Invest Bank Ltd 650 33.00
3.84
4.44
3.95
3.96 0.12
1091
4.44
2.00
-
-
-
-
Arif Habib Securities Dawood Equities First National Equity
575
-
10.00
10.50
9.00
10.32 0.32
800
11.75
6.86
-
-
-
-
IGI Investment Bank Invest and Fin Sec Invest Bank
2121 600 2849
2.57 -
1.90 7.93 0.66
2.01 7.50 0.75
1.75 7.31 0.52
1.75 -0.15 7.39 -0.54 0.67 0.01
1835 1900 8516
2.43 9.00 1.23
1.17 6.90 0.44
-
-
11.5 -
-
Ist Cap Securities
2878
5.40
2.54
10B
1.78
4.26
4.47
4.18
4.32 0.06
30448
-
10B
-
626
0.30
1.85
2.12
1.80
1.82 -0.03
48896
2.84
1.17
-
-
-
Jah Siddiq Co
7633
-
9.16
9.36
9.06
9.16 0.00
4962602
15.47
8.80
-243.778B 10
-
JOV and CO
508
-
2.21
2.40
2.15
2.36 0.15
550305
6.48
1.96
-
-
-
-
JS Global Cap XD
500
-
27.07
27.93
26.00
26.38 -0.69
42751
42.00
26.00
150
-
-
-
1000 12.56 1000 821 4.13
5.29 3.63 5.02
6.29 3.98 5.29
5.21 3.56 5.19
5.65 0.36 3.72 0.09 5.25 0.23
790504 36106 15214
8.65 5.49 5.95
5.10 3.20 3.66
-
-
-
-
Ist Dawood Bank
JS Investment KASB Securities Orix Leasing
-
Pervez Ahmed Sec
775
-
1.51
1.70
1.46
1.56 0.05
58663
2.89
1.35
-231.08R
-
-
Sec Inv Bank
514
-
1.95
2.50
2.50
2.50 0.55
2000
3.80
1.65
-
-
-
-
EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index
2010 Div BR (%) (%) 20 - 66R 55 -63.46R 10 -
0.06 -0.23 -0.75 0.34 -0.05 -0.39 -0.05 0.25 -0.62 0.02 -0.50
PE
Arif Habib Limited XB
Performance of SR Gas Water and Multiutilities Index
11.06 29.15 47.75 10.32 36.14 10.21 73.94 14.11 8.77 6.50 6.54
Paid up Cap(mn)
Company
2010 Div BR (%) (%) 50 - 7.8R 15 50 20 -
11.00 29.00 47.51 10.00 35.00 10.04 73.94 13.80 8.39 6.49 6.48
Performance of SR Life Insurance Index
ELECTRICITY High Low 1,163.03 1,135.23 Total cos Defaulter cos P/BV (x) ROE (%) 1.17 9.35
11.45 29.39 50.90 10.88 37.00 10.58 73.94 14.35 9.23 6.50 7.98
LIFE INSURANCE
-
Performance of SR Electricity Index Open 1,141.17 Turnover 5,472,637 P/E (x) 12.46
11.00 29.38 48.50 9.98 36.19 10.60 73.99 13.86 9.39 6.48 7.04
Open 1,025.13 Turnover 2,298,094 P/E (x) 6.51 Paid up Cap(mn)
Company
High Low 1,048.16 1,006.27 Total cos Defaulter cos P/BV (x) ROE (%) 0.27 4.09
PE
Open
High
Low
Close Chg
264
AL-Meezan Mutual F. XD 1375
1st Fid Leasing
Close 1,025.10 Listed cap 29,771.58 mn Payout (%) 104.19
Change -0.03 Market cap 17,378.20 mn Div Yield (%) 28.15
Last 60 days High Low
Volume
-
1.25
1.50
1.05
1.05 -0.20
17005
2.24
1.01
-
-
2.36
6.32
6.50
6.10
6.11 -0.21
19477
7.25
6.10
-
-
18.5
-
780
-
1.10
1.10
1.05
1.10 0.00
10902
2.43
0.90
-
-
0
-
Crescent St Modaraba
200
2.80
0.56
0.72
0.51
0.70 0.14
290528
0.90
0.16
-
-
1.2
-
113
4.45
2.88
2.90
2.88
2.89 0.01
110000
3.49
1.65
4.5
-
5
Elite Cap Modaraba
-
-
Equity Modaraba
524
-
0.93
1.19
1.09
1.10 0.17
102007
1.50
0.76
-
-
-
-
300
3.53
3.10
3.49
3.00
3.28 0.18
10003
3.80
0.99
-
-
-
-
First Dawood Mutual F.
581
-
1.55
1.64
1.55
1.63 0.08
15055
2.09
1.36
-
-
-
-
Golden Arrow
760
3.89
3.67
3.68
3.50
3.58 -0.09
179317
3.88
2.32
-
-
17
-
H B L ModarabaSPOT
397
5.74
6.63
6.58
6.40
6.49 -0.14
30028
6.80
4.80
5
-
11
-
Habib Modaraba
1008
4.51
6.00
6.00
6.00
6.00 0.00
20100
7.49
5.56
20
-
21
30
6.06
58.45
58.00
57.00
57.65 -0.80
1194
69.95
43.00
63
-
76
-
JS Growth Fund
3180 37.50
2.96
3.00
2.82
3.00 0.04
285
4.39
2.70
-
-
5
JS Value Fund
1186
-
3.00
3.05
2.98
3.04 0.04
58875
3.98
2.31
10
-
10
-
Meezan Bal. Fund XD
1200
2.71
5.32
5.60
5.40
5.60 0.28
16005
7.49
5.40
-
-
15.5
-
NAMCO Bal. Fund
1000
2.99
2.90
2.99
2.70
2.99 0.09
110
3.70
2.25
5
-
15
-
Pak Modaraba
125
1.11
0.80
0.90
0.65
0.90 0.10
3150
1.07
0.25
-
-
-
-
Pak Prem Fund
1698
3.71
7.85
7.95
7.60
7.80 -0.05
160778
9.86
7.00
-
-
18.6
-
Pak Strat Fund
3000
5.39
7.00
6.95
6.89
6.90 -0.10
426507
8.10
6.01
-
59
7.86
8.75
8.80
8.80
8.80 0.05
1600
8.80
6.55
15
-
18
-
1000
2.71
4.79
5.10
4.83
5.09 0.30
32780
6.49
4.00
-
-
5
-
Paramount Mod. XD PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund XD
- 11.53
Open
DGKC-OCT 24.74 NML-OCT 46.45 PSO-OCT 271.87 MCB-OCT 194.32 POL-OCT 241.68 ANL-OCT 10.29 NBP-OCT 64.52 PPL-OCT 178.62 ENGRO-OCT 176.79 AICL-OCT 65.69 POL-OCTB 226 PTC-OCT 19.25 LUCK-OCT 68.69 NETSOL-OCT 16.59 OGDC-OCT 146.5 UBL-OCT 52 AICL-COCT 66.36 ABL-COCT 52.05 AKBL-COCT 14.83 ATRL-COCT 82.83 ANL-COCT 10.39 FFC-COCT 107.91 HBL-COCT 96.05 ICI-COCT 121.19 KAPCO-COCT 41.76 NETSOL-COCT17.83 NML-COCT 49.05 UBL-COCT 52.77 AICL-CNOV 67.21 AKBL-CNOV 15.02 ATRL-CNOV 83.89 ANL-CNOV 10.52
-
First Capital Mutual F.
Imrooz Modaraba
Symbols
2010 Div BR (%) (%)
B R R Guardian Mod.
2.12 1.2 14 1.53 81.78 19.5 16 1.49 345 20 25.8 49.89 1927.53 1.5 2.37 2.35 53 1.49 115.55 115.26 21.47 125.95 16.03 30 2.65 57.04 950 21.51 5 3 0.47 159 3.55 0.9 1.4 8.15 8.5 1.54 1.26 2.29 0.98 1001 9.26 3.98 19.01 8.5 0.95 1.14 1.38 0.57 1 10 32.5 0.55 42 5.45 5.99 22 19.5 24.99 23.45 3 11.12 38.66 93 40.96 5.35 3.32 6.74 310.5 56.5
High 2.49 1.5 15 1.98 78.1 20.5 17 2.49 360 20 25.99 50 2023.9 2.49 2.38 3.28 53.25 1.98 121.32 115.25 22.54 124.9 16.84 29.75 2.7 57.5 939.99 20.5 5.49 3.9 0.53 166.8 3.26 1.05 2.33 9.15 9.1 1.75 1.39 2.4 0.98 1030 9.5 3.79 19.97 9.5 0.99 0.9 1.45 0.67 1.9 10.22 32.5 0.63 42.2 6.25 6.88 23 18.5 26.23 24.45 2.17 11.99 40.45 95 42 5.48 3.32 7.73 310.5 57
Low
Close
2.49 1.5 13.1 1.98 78 18.55 16.9 0.5 331.6 19.95 25.99 49 1875 1.61 2.38 1.96 53.25 1.01 113 115.25 22.54 124.9 15.03 29.01 1.85 57.5 902.5 20.5 4.5 3.9 0.53 151.15 3.26 0.55 1.16 8.9 7.81 1.75 1.2 2.3 0.98 1030 9.5 3.6 18.6 7.5 0.78 0.77 1.44 0.2 0.26 10.22 32.5 0.63 42.2 6.25 6.88 23 18.5 26.23 24.45 2.17 10.12 40.45 95 42 5.48 3.32 7.72 310.5 57
2.49 1.5 15 1.98 78.05 20.3 16.9 1.96 353.16 20 25.99 50 1961.62 1.61 2.38 2.34 53.25 1.48 119.83 115.25 22.54 124.9 16.7 29.32 2.58 57.5 910 20.5 5 3.9 0.53 162.35 3.26 0.8 2.12 8.9 8.75 1.75 1.2 2.3 0.98 1030 9.5 3.73 19.75 9.5 0.99 0.9 1.44 0.44 1.08 10.22 32.5 0.63 42.2 6.25 6.88 23 18.5 26.23 24.45 2.17 10.12 40.45 95 42 5.48 3.32 7.72 310.5 57
Change
Vol
0.37 0.3 1 0.45 -3.73 0.8 0.9 0.47 8.16 0 0.19 0.11 34.09 0.11 0.01 -0.01 0.25 -0.01 4.28 -0.01 1.07 -1.05 0.67 -0.68 -0.07 0.46 -40 -1.01 0 0.9 0.06 3.35 -0.29 -0.1 0.72 0.75 0.25 0.21 -0.06 0.01 0 29 0.24 -0.25 0.74 1 0.04 -0.24 0.06 -0.13 0.08 0.22 0 0.08 0.2 0.8 0.89 1 -1 1.24 1 -0.83 -1 1.79 2 1.04 0.13 0 0.98 0 0.5
100 100 100 100 100 91 91 84 84 70 58 56 54 52 50 46 45 44 38 35 20 20 19 18 13 13 11 10 10 10 8 8 8 8 6 6 5 5 5 5 5 5 5 3 3 3 3 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS
% Change 0.00 5-Day High 1,025.13 5-Day Low 1,006.13
2009 Div BR (%) (%)
Open
-
2835
2.34
8.40
8.68
8.45
8.52 0.12
88671
10.55
7.60
-
-
20
-
2841
1.82
3.63
3.86
3.60
3.61 -0.02
663329
5.00
3.50
-
-
10
-
Trust Modaraba
298
3.22
2.90
3.45
2.50
2.54 -0.36
117
4.40
1.00
-
-
5
-
Symbols
U D L Modaraba
264
3.38
6.45
6.50
6.30
6.48 0.03
40122
6.51
5.00
10
-
12.5
-
REDT
High 25.35 47.55 279.5 196.85 245.96 10.64 65.18 180.51 179.5 68 228.7 19.36 69.9 17.59 146.9 52.25 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Low
Close
24.9 46.7 271 194.5 241.25 10.37 64.25 178.9 177 66.6 226 19.26 68.89 17 146.22 52.25 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
25.02 47.11 278.75 195.29 244.7 10.4 64.88 179.57 178.13 67.61 228.27 19.36 69.06 17.59 146.83 52.25 68.05 52.67 14.84 86.92 10.49 108.32 98.83 123.52 41.85 18.54 49.69 52.73 68.91 15.03 88.02 10.62
Change 0.28 0.66 6.88 0.97 3.02 0.11 0.36 0.95 1.34 1.92 2.27 0.11 0.37 1 0.33 0.25 1.69 0.62 0.01 4.09 0.1 0.41 2.78 2.33 0.09 0.71 0.64 -0.04 1.7 0.01 4.13 0.1
Vol 526000 454000 355500 199000 180500 163000 153500 129500 119500 52000 42500 27500 18500 6500 4000 2000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
ZERO VOLUME Open
High
Low
Close
1.2
0.98
0.98
0.98
Change
Vol
-0.22
0
BOARD MEETINGS
Nishat Mills Ltd
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
68.29
Support 1
10,197.85
MA (5-day)
10,110.28
Support 2
10,135.15
MA (10-day)
10,058.85
Resistance 1
10,317.00
MA (100-day)
9,871.90
Resistance 2
10,373.50
AKD Securities Ltd
9,942.38
Pivot
Brokerage House
Fair Value
Rs Recommendations
33
AKD Securities Ltd
32.87
TFD Research
29.1
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
60.02 27.57 27.71 29.31
Buy
TFD Research
14.01
Positive
175.80 8,656.39 27.97 49.12
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
ing oscillators are currently bullish on NML.
Brokerage House
Accumulate
TFD Research
* Target price for Dec-10 & **Net Open Interest in future market
44.13
Buy
TFD Research
36.85
Positive
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
182.55 4,561.92 21.28 24.94
* Target price for Dec-10 & **Net Open Interest in future market
displaying a downward trend. Volatility is low as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of DGKC at a relatively equal pace. Trend forecasting
National Bank of Pakistan
Rs Recommendations
24.18
Buy
*Arif Habib Ltd
48
Buy
*Arif Habib Ltd
Positive
AKD Securities Ltd
46
Buy
AKD Securities Ltd
Positive
TFD Research
30.5
Brokerage House
Technical Outlook Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
DGKC is currently 9.0 per cent below its 200-day moving average and is
Fair Value
Fair Value
59.54 18.95 18.82 19.59
Brokerage House
584.63 11,265.91 7.47 19.25
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
40.18 33.13 33.95 33.69
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value 78
Rs Recommendations Buy
64.64
Neutral
92.3
Positive
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
44.9
Rs Recommendations
810.01 26,843.67 N/A 33.17
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
53.39 63.42 65.38 72.59
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
318.37 20,560.14 39.14 64.55
* Target price for Dec-10 & **Net Open Interest in future market
FFBL closed up 0.21 at 28.57. Volume was 81 per cent above average and PTC closed up 0.08 at 19.27. Volume was 32 per cent above average and HUBC closed up 0.11 at 33.14. Volume was 2 per cent above average and NBP closed up 0.25 at 64.58. Volume was 16 per cent below average and Bollinger Bands were 28 per cent narrower than normal.
Bollinger Bands were 59 per cent narrower than normal.
Bollinger Bands were 45 per cent narrower than normal.
Bollinger Bands were 30 per cent narrower than normal.
FFBL is currently 0.7 per cent below its 200-day moving average and is PTC is currently 1.6 per cent below its 200-day moving average and is dis- HUBC is currently 1.6 per cent below its 200-day moving average and is NBP is currently 2.1 per cent below its 200-day moving average and is disdisplaying an upward trend. Volatility is relatively normal as compared to playing an upward trend. Volatility is extremely low when compared to the displaying a downward trend. Volatility is extremely low when compared to playing an upward trend. Volatility is low as compared to the average the average volatility over the last 10 trading sessions. Volume indicators average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect modreflect moderate flows of volume into FFBL (mildly bullish). Trend forecast- reflect volume flowing into and out of PTC at a relatively equal pace. Trend reflect volume flowing into and out of HUBC at a relatively equal pace. erate flows of volume into NBP (mildly bullish). Trend forecasting oscillaing oscillators are currently bullish on FFBL.
forecasting oscillators are currently bullish on PTC.
Trend forecasting oscillators are currently bearish on HUBC.
tors are currently bullish on NBP.
Time
09-Oct 09-Oct 09-Oct 09-Oct 09-Oct 09-Oct 09-Oct 09-Oct 09-Oct 09-Oct 09-Oct 09-Oct 09-Oct 11-Oct 12-Oct 12-Oct 12-Oct 13-Oct 18-Oct 19-Oct
3:00 3:00 11:00 3:00 11:00 10:00 12:00 11:30 8:00 1:00 11:30 11:00 12:30 11:30 12:30 2:30 11:30 2:30 3:00 11:00
TECHNICAL LEVELS
Leverage Position
53.43 24.14 24.91 27.45
Date
Agritech Limited Annoor Textile Mills Limited Azam Textile Mills Ltd Bela Automotives Limited Flying Cement Co Ltd Kohinoor Industries Ltd Kohinoor Power Co Ltd Nazir Cotton Mills Ltd S G Fibre Limited Saritow Spinning Mills Limited Service Fabrics Limited Service Industries Textiles Ltd Trust Investment Bank Ltd Sanghar Sugar Mills Limited Bank Al Habib Ltd Descon Chemicals Ltd KSB Pumps Company Limited Descon Oxychem Ltd IGI Investment Bank Ltd Tri-Pack Films Ltd
Company
oscillators are currently bearish on DGKC.
Hub Power Co Ltd
TFD Research
* Target price for Dec-10 & **Net Open Interest in future market
674.58 6,145.41 N/A 9.11
indicating that BAFL is currently in an overbought condition.
Neutral
326.94 9,340.63 0.01 28.53
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
NML is currently 7.0 per cent below its 200-day moving average and is dis- BAFL is currently 14.9 per cent below its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to playing an upward trend. Volatility is relatively normal as compared to the the average volatility over the last 10 trading sessions. Volume indicators average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into BAFL (bullish). Trend forecasting reflect moderate flows of volume into NML (mildly bullish). Trend forecast- oscillators are currently bullish on BAFL. Momentum oscillator is currently
AKD Securities Ltd
Leverage Position
Buy
AKD Securities Ltd
Technical Outlook
Leverage Position
70.68 8.38 8.88 10.70
Rs Recommendations
44
Technical Outlook
Leverage Position
Fair Value
NML closed up 0.66 at 49.24. Volume was 222 per cent above average BAFL closed up 0.09 at 9.11. Volume was 336 per cent above average DGKC closed up 0.34 at 24.99. Volume was 88 per cent above average (trending) and Bollinger Bands were 58 per cent narrower than normal. (trending) and Bollinger Bands were 4 per cent wider than normal. and Bollinger Bands were 21 per cent narrower than normal.
Buy
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
12.47
Technical Outlook
Technical Outlook Technical Analysis
AKD Securities Ltd
Positive
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Brokerage House *Arif Habib Ltd
Buy
63.53 47.28 46.32 52.94
Rs Recommendations Buy
61.46
Technical Analysis
Fair Value 14
*Arif Habib Ltd
Pakistan Telecommunication Co Ltd
Fauji Fertiliser Bin Qasim Ltd
*Arif Habib Ltd
Brokerage House
Buy
74.2
10,254.35
er than normal. As far as resistance level is concern, the market will see major 1st resistance level at 10,317.00 and 2nd resistance level at 10,373.50, while Index will continue to find its 1st support level at 10,197.85 and 2nd support level at 10,135.15. KSE 100 INDEX is currently 3.2 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of INDEX at a relatively equal pace. Trend forecasting oscillators are currently bullish on INDEX.
Rs Recommendations
65
TFD Research
RSI (14-day) MA (10-day) KSE 100 INDEX closed up 68.80 points at 10,260.48. Volume was 96 MA (100-day) per cent above average and Bollinger Bands were 54 per cent narrow- MA (200-day) MA (200-day)
Fair Value
*Arif Habib Ltd
Dera Ghazi Khan Cement Co Ltd
Bank Al-Falah Ltd
Company
Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Limited Arif Habib Securities Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D.G.K.Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J.O.V.and CO Japan Power JS Bank Ltd Jah Siddiq Co Kot Addu Power K.E.S.C Lucky Cement MCB Bank Ltd Maple Leaf Cement National Bank Nishat (Chunian) Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat Mills Oil & Gas Dev. XD PACE (Pakistan) Ltd. Pervez Ahmed Sec P.I.A.C.(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki P.S.O. XD P.T.C.L.A Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele
RSI 1st 2nd (14-day) Support 47.11 3.05 2.85 53.07 51.40 50.65 35.34 62.45 61.65 35.43 25.95 25.60 47.55 22.60 22.05 47.54 66.45 65.50 51.30 14.55 14.35 52.58 10.25 10.10 82.29 364.05 359.55 62.67 83.45 80.75 70.68 8.95 8.85 50.27 3.00 2.90 49.93 8.10 7.90 56.15 1.55 1.50 53.43 24.75 24.50 46.51 1.35 1.25 46.24 2.00 1.90 35.24 35.10 34.05 49.12 59.35 58.15 53.69 174.55 171.70 49.58 13.55 13.45 44.12 4.70 4.65 60.02 28.15 27.70 58.88 106.40 105.45 57.36 95.45 93.00 40.18 32.95 32.75 58.12 120.20 118.00 48.99 220.10 215.55 30.99 2.20 2.05 46.22 1.20 0.95 51.15 2.35 2.30 44.21 9.00 8.90 50.38 41.30 41.10 51.47 1.95 1.80 63.82 72.30 72.00 59.60 194.25 192.95 41.10 2.75 2.65 53.39 64.05 63.50 66.27 17.90 17.40 44.97 17.85 17.35 68.41 3.00 2.95 40.74 1.25 1.20 63.53 48.70 48.15 58.71 146.70 146.15 55.43 2.80 2.70 47.43 1.45 1.35 55.96 2.15 2.05 55.93 7.40 6.75 71.88 241.80 239.05 42.81 178.40 176.55 46.36 72.95 72.10 66.95 273.30 267.50 59.54 19.05 18.90 42.71 193.10 192.25 74.06 32.25 31.90 50.36 8.25 8.00 78.27 29.75 29.45 49.59 2.10 2.00 61.47 4.15 4.00 45.26 52.05 51.80 57.57 2.50 2.35
1st 2nd Resistance 3.40 3.50 53.20 54.25 64.40 65.55 26.75 27.15 23.60 24.10 68.15 68.90 14.95 15.15 10.60 10.80 371.55 374.50 87.50 88.80 9.25 9.40 3.35 3.55 8.50 8.65 1.65 1.70 25.30 25.55 1.55 1.65 2.20 2.30 37.10 38.05 62.35 64.15 179.75 182.10 13.75 13.85 4.80 4.90 29.05 29.50 108.15 108.95 99.90 101.90 33.40 33.70 123.90 125.40 229.10 233.55 2.45 2.55 1.70 2.05 2.50 2.60 9.30 9.50 41.60 41.80 2.30 2.50 73.15 73.65 197.40 199.25 2.90 3.00 65.15 65.75 19.05 19.65 18.75 19.10 3.15 3.20 1.40 1.50 49.85 50.45 147.70 148.15 3.00 3.10 1.70 1.80 2.35 2.45 8.55 9.05 246.30 248.05 181.75 183.25 74.80 75.85 282.65 286.20 19.45 19.65 194.90 195.85 33.15 33.75 8.85 9.15 30.25 30.50 2.30 2.35 4.50 4.70 52.50 52.70 2.75 2.85
Pivot 3.15 52.45 63.60 26.35 23.05 67.20 14.75 10.45 367.05 84.80 9.15 3.20 8.25 1.60 25.05 1.45 2.10 36.05 61.15 176.90 13.65 4.75 28.60 107.20 97.45 33.20 121.70 224.55 2.30 1.50 2.45 9.20 41.45 2.15 72.80 196.10 2.85 64.60 18.55 18.20 3.05 1.35 49.30 147.15 2.90 1.55 2.25 7.90 243.55 179.90 73.95 276.85 19.25 194.05 32.80 8.60 30.00 2.20 4.35 52.25 2.60
8
Saturday, October 9, 2010
Akshay’s three looks in Action Replay
G
one are the days when actors looked and acted the same film after film. Now is the time for experimentation when it comes to adopting a different body language, mannerisms and facial expressions for every other film. However, for Akshay Kumar it was thrice the effort as he was required to go through not one, not two but three distinct looks in 'Action Replay'. Inform an insider who has had a sneak peak into the film, "First and foremost the fact remains that since Action Replay is a retro film, the base look of the film as well as its characters had to represent that era. To get that correct look, there was quite some deliberation done by Akshay, Vipul Shah and other crew members who were in charge of costumes, hair etc. Ultimately they settled for a look that found its inspiration from actors like Sunil Dutt, Vinod Mehra, Vinod Khanna and even a few top cricketers of that time." However, this is not all that one would see of Akshay in the film. The actor carries two more looks in the film and these are currently being kept hidden from the audience. "Yes, there are two more looks.
Munna Bhai denied US visa again
S MUMBAI: Indian Bollywood film actor Sharukh Khan poses with his wife Gauri and film actress Rani Mukharjee at the opening party of the HDIL Couture Week 2010. -Reuters
Pak designer makes a mark in Malaysian Fashion World
A
relatively new Pakistani entrant is making waves in the Malaysian Fashion world by her unique designs and getting good response in collecting donations for the flood victims. Shairose Malik Dhananai exhibited her range of clothings here at the Charity Bazaar, proceeds of which will go to the fund created by the Malaysian Relief Agency (MRA) to build houses and hand water pumps for the relief of flood victims. Ms. Shairose who had been working in Fashion designing sector in Pakistan arrived in
Malaysia in December last to introduce the highly sought after fashion products in Malaysia. She said Pakistani fashion design has matured over a period of time, with its unique bead work, hand embroidery, ribbon work, that needs to be introduced to other countries to create a niche for Pakistani designer's products the world over. Recently, one of the top Fashion Magazine of Malaysia, "KUNANG", in its October 2010 issue published an eight page special feature on her cloth line with a budding Pakistani model Mariam
anjay Dutt is going through heartbreak these days. The actor has been denied visa to visit his daughter who will be graduating from one of the prestigious colleges in New York soon. Actually, Sanjay Dutt wanted to be present at the grand ceremony where all the parents will be accompanying their kin on this day. But, alas, Sanjay Dutt cannot make it to the big day it seems. Sanjay Dutt on his part cannot fathom the logic behind this ban. According to him when he can travel all over the globe for his shoots, why can't he travel to the US to be alongside his daughter on this big day? Well, looks like Dutt has to no way out of the crisis then to accept it with disappointment.
Hussain. The Magazine while describing the cloth line of Shairose says her collection focusses on comfort and beauty and mainly uses pure raw silk, pure chiffon and cotton material adorned with breathtaking embellishments of beads, sequin, threadwork and ribbon work. Shairose also designs accessories, and all materials used in her clothing line and accessories are from Pakistan. Currently Ms. Shairose is hen decorating a exhibiting Pakistan's haute room, one of the eascouture at various fashion iest ways to express shows, exhibitions and fairs in your personality is by the winMalaysia. dow treatments you choose. Whether simple or elaborate, opaque or solid, the fabrics and textures you select help make the room your own. Creating a window treatment can be a lot of fun, and is not the difficult task many people think. In fact, one does not have to be a master interior designer to come up with a window treatment that is original, tasteful, and pleasing to the eye. The process can actually be very simple. Cornice boards, despised in the seventies and eighties, are back in vogue for the new millennium. The great news about cornice boards is they do not have to be the heavy wooden boxes with all the intricate carving of yesteryear. In fact, they don’t have to be made of wood at all. Today, cornice board kits are available which include basic components made of Styrofoam. These pre cut MUMBAI: Indian Bollywood film actor Ranbir Kapoor, along with his parents and star cast pieces are ideal to use when the members Rishi Kapoor and wife Neetu Singh Kapoor, attends the premiere of Hindi object is to create a padded Bollywood film 'Do Dooni Chaar', in Mumbai. -Reuters
Iron Man 2 sells 1m DVDs in 1 day
T
here was never any petitor, the Universal Studios question that "Iron Man comedy "Get Him to the 2" would be the biggest Greek," by a margin of more home video seller and renter than 8-to-1. On the Blu-ray of the week. Disc sales chart, the discrepanThe only question was how cy was even greater: "Get Him big the blockbuster sequel to the Greek," with a $60.1 would be, given the home million box-office pedigree, entertainment business's lack- sold less than 7 per cent as luster performance these last many Blu-ray Disc units as three years. "Iron Man 2." But as it turned out, the And on Home Media Paramount Home Magazine's rental chart for the Entertainment release, which week, "Iron Man 2" also was a many in the industry consid- resounding winner, although ered a harbinger of overall "Get Him to the Greek" manfourth-quarter performance, aged to generate around 71 per was a hands-down smash for cent as many rental transacthe week ended October 3, tions as the fast-paced-actionselling an estimated 1.1 mil- er. lion discs its first day in stores "Iron Man 2" also was the and ending the week just past first big fourth-quarter release the 5 million-unit mark, ever to sell more copies on according to Home Media Blu-ray Disc than on DVD. Magazine's Market Research According to Nielsen Department. research, 52 per cent of the Accordingly, "Iron Man 2," title's first-week sales were on which grossed $312 million in Blu-ray Disc, although it US theaters, debuted at No. 1 should be noted that Nielsen on all three home-video charts, data does not include Walmart by a wide margin. or Sam's Club, where the ratio On the Nielsen VideoScan of Blu-ray Disc sales is typiFirst Alert sales chart, "Iron cally smaller than at most Man" outsold its nearest com- Nielsen-reporting retailers. Most expensive Indian movie; Budget of Rs1.65bn
India’s ‘Robot’ hits screen
T
hree years after his last blockbuster, Indian film megastar Rajinikanth returned to the silver screen with a movie expected to break all box-office records. The 60-year-old's latest film, the Tamil-language "Endhiran" (Robot), has a budget of 1.65 billion rupees according to the movie's official website, making it the most expensive Indian film ever-made. Some celebrated the release by bursting crackers, beating drums, showering the movie screen with flowers and even washing life-size posters of Rajinikanth with milk - a sign of purity. A star of more than 150 films, Rajinikanth's presence on screen has been likened to a leaping tiger, and his fans are known to pray in front of life-size cardboard cutouts of him for the success of his lat-
est release. "It's a superhit and the film will run for 1000 days," one fan, Rajini Priyan, told media after watching the first show. In India's southern city of Chennai in Rajinikanth's home state of Tamil Nadu, life-size posters and movie billboards of the megastar lined the streets and movie theatres. The film, which will be released in Hindi as "The Robot" and "Robo" in Telugu, also stars former Miss World Aishwarya Rai, who is one of Bollywood's biggest names. Shooting for "Endhiran" took the cast all over the world, from the ancient Inca site of Machu Picchu in Peru to Brazil and the United States. The reclusive Rajinikanth left his job as a bus conductor to study drama in the 1970's and ever since he has acted in more than a 150 films.
Katrina pays tribute to Meena Kumari
D
ecades ago the timeless Meena Kumari had audiences mesmerized every time she grazed the screen - with Katrina Kaif on board Farah Khan director of the highly anticipated 'Tees Maar Khan' thought it was apt to recreate the Meena Kumari magic. As a tribute to the yesteryear's actress Katrina Kaif will don her Pakeezah look for a special Qawwali number also starring Akshay Kumar and Salman Khan. Confirmed by director-choreographer Farah Khan, "Katrina's look has been modeled on Pakeezah. While Akshay and Salman can be expected to have a lot of fun with this track, it belongs to Katrina as she is going to surprise the audience."
Titanic to return in 3D
J
ames Cameron's blockbuster "Titanic," the second-biggest earner in film history, will be released in 3D in 2012, a year that will also see a 3D re-release of "Star Wars," The Hollywood Reporter said. The Hollywood Reporter said film studios Paramount Pictures, 20th Century Fox and Lightstorm Entertainment were planning on re-releasing "Titanic" in April 2012, 100 years after the mammoth passenger steamship plunged into the icy waters of the Atlantic Ocean.
MUMBAI: Deepika Padukone attends the opening party of the HDIL Couture Week 2010 in Mumbai. -Reuters
Layering Window Treatments
W
cornice board. After assembling your Styrofoam frame according to the kit’s instructions, cover the frame with batting. Rolls of batting can be purchased at any craft shop and many discount stores. To secure to the frame, try some fabric glue and perhaps a staple or two. The use of hot glue is discouraged, as it can melt the Styrofoam, leaving your frame distorted and less sturdy. When deciding on the fabric to cover your cornice board, take a look around your room. Consider the color of the walls, the grain of any of wood in the room. What minor colors in the upholstery, pillows, or carpets
could you pick up for the window treatment? Along with the color scheme, what types of fabrics are present in the room? How many varying textures, weaves, and blends are already represented? Once you have determined the color and texture of the fabric for the cornice board, lay the fabric flat, and place the cornice board frame on the fabric. Make sure you cut a piece of fabric that will allow you to completely cover the cornice board, with the seam visible only on the inside of the board. Carefully used a staple gun or fabric glue to secure the fabric, making sure the material
remains taut and smooth. To further dress the exterior of the board, you may choose to attach roping to outline the edges of your cornice board. Fabric glue will allow you to do this without any actual sewing. Creating a dramatic series of layered panels to go along with your cornice board can also be fun. Just as with the selection process for the material used on the board, turn to the elements in your room for cues on what types of fabrics, colors, and textures will work well in your panels. Generally speaking, you can create a dramatic layered look by using a series of panels of different lengths in conjunction with the cornice board. A suggestion would be a three tiered look for the panels. In order for the panels to seem to flow effortlessly from the cornice board, consider this arrangement of textures: begin a heavy fabric panel as the top overlay, a slightly less heavy panel for a middle overlay, and then something thin or sheer for the underlay panel. Allow about a third of each panel to be exposed, going from cornice board to floor.
9
Saturday, October 9, 2010
Gold reverses earlier losses as US data hurts dlr
European vegetable oil prices
SPDR gold ETF sees biggest one-day outflow since July
ROTTERDAM: The following were the Friday's Rotterdam vegetable oil price's at 21:00 PST. RAPEOIL: Dutch/EU euro tonne fob exmill Nov10/Jan11 810.00+25.00, Feb11/Apr11 820.00+30.00, May11/Jul11 825.00+25.00, Aug11/Oct11 815.00+25.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Oct10/Dec10 975.00, Jan11/Mar11 975.00+25.00. PALMOIL: RBD dlrs tonne cif Rotterdam Dec10 1017.50, Jan11/Mar11 1012.50. PALMOIL: RBD dlrs tonne fob Malaysia Dec10 970.00+32.50, Jan11/Mar11 965.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Dec10 980.00+32.50, Jan11/Mar11 975.00+32.50, Apr11/Jun11 977.50+30.00. PALM STEARIN: Dlrs tonne fob Malaysia Nov10 930.00+7.50. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Sep10/Oct10 1405.00+15.00, Oct10/Nov10 1400.00+20.00, Nov10/Dec10 1400.00+20.00, Dec10/Jan11 1400.00+20.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Oct10/Nov10 2000.00+0.00. Reuters
LONDON: Gold prices climbed, reversing earlier losses to hit session highs above $1,345 an ounce, after US nonfarm payrolls data for September came in much weaker than expected, pressuring the dollar against the euro. Spot gold hit a peak of $1,346.30 and was at $1,343.50 an ounce by 1453 GMT, against $1,332.65 late in New York on Thursday. US gold futures for December delivery rose $9.90 an ounce to $1,344.90. The payrolls numbers, which showed US employers shed 95,000 jobs last month against expectations for none to be lost, have cemented expectations the Federal Reserve may move towards further measures to stimulate the flagging US economy. "A weak number equals increased likelihood of QE2, equals higher gold prices," said Saxo Bank senior manager Ole Hansen. "If we can move back above $1,340 today, it looks good heading into next week."
However, the dollar's resilience to the data -- it quickly recovered from lows versus the euro -- may prove a significant barrier to fresh strength in the metal, Hansen added. "(It) still feels like this correction may not have fully run its course, but the dollar will decide in the end," he said.
Gold's near-10 per cent rally from end-August to Thursday's record high at $1,364.60 an ounce had come largely on the back of expectations for further US quantitative easing, which knocked the dollar 7.5 per cent lower last month versus the euro, its worst monthly performance since Dec. 2008. The world's largest goldbacked exchange-traded fund, New York's SPDR Gold Trust, reported a 13.4 tonne outflow on Thursday, the biggest oneday drop in its holdings since
late July. "It is striking that (yesterday's) price fall was accompanied by high outflows from the SPDR Gold Trust," said Commerzbank in a note. "Investors are clearly taking profits as prices fall." "This is a sign, in our view, that the air gets more and more thin at the current price level, and it also shows that the swift rise in prices is probably largely due to shortterm oriented financial investors," he said. Among other precious metals, silver was at $23.08 an ounce against $22.52, well off the previous day's 30-year high of $23.51 an ounce. Holdings of the world's biggest silver-backed ETF, the iShares Silver Trust, climbed to a record 9,997.39 tonnes on Thursday, reflecting strong investor demand for the metal. Platinum was at $1,705 an ounce against $1,691.60, while palladium was at $587.50 versus $579.15. -Reuters
Market rallies on looming Fed move LONDON: Industrial metals rallied on Friday, with copper hitting its highest in over two years for a third straight day as a surprise fall in US jobs strengthened talk of fresh moves to boost the world's biggest economy. Benchmark copper jumped to $8,349.50 a tonne, its highest since mid-July 2008 and ended the day at $8,300 a tonne, up 2.5 per cent from $8,100 a tonne on Thursday. "It looks like weak economic data is actually positive for commodities as it boosts expectations of quantitative easing out of the United States which has been one of the motivators of the market recently," analyst Daniel Brebner at Deutsche Bank said. The US economy unexpectedly shed jobs in September for a fourth straight month as government payrolls fell. Nonfarm payrolls dropped 95,000, against a market expectation of an unchanged number. Speculation about the US Federal Reserve stepping in
with more quantitative easing to bring life to the economy has been fuelling metal prices as it bolsters the demand outlook while hitting the dollar. Copper has risen more than 30 per cent since hitting an eight-
Shanghai copper ends flat Shanghai copper futures were steady on Friday following a week-long holiday, during which London copper surged to its highest in more than two years. Benchmark third-month Shanghai copper ended the day at 60,610 yuan a tonne from 60,600 yuan at the close last Thursday. month low in June, at the forefront of a rise in metals prices that saw tin hit a record high this week. Copper is also benefiting from a tightening market, where stocks in LME warehouses have tumbled more than 30 per cent since the middle of February. Friday's data showed LME stocks down 1,450 tonnes to 372,000 tonnes, having fallen
from seven-year highs above 555,000 in late February. Talk of launching physically backed exchange-traded copper products (ETPs) looks to be a cause of unease as consumers think it could reduce the availability of the metal. Aluminium rallied more than 4 per cent to hit $2,422 a tonne, its highest since April 20 and closed at $2,420 a tonne versus Thursday's close of $2,326 a tonne. Among other metals, tin rose to $26,350 a tonne versus Thursday's close of $25,600, short of Wednesday's record peak at $26,790, underpinned by tight supply from top exporter Indonesia and low stocks. Stainless steel material nickel closed at $24,400 a tonne from Thursday's close of $23,900, while battery material lead rose to $2,270 a tonne versus $2,209. Lead inventories slipped 900 tonnes but remain near 10-year highs at around 198,400 tonnes. Zinc gained to $2,289 a tonne versus $2,261 a tonne while aluminium. -Reuters
Tokyo rubber inches down on firm yen BANGKOK: Tokyo rubber futures ended lower on Friday, weighed down by the strength in the Japanese yen and weaker oil prices, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for March delivery dropped 1.6 yen to settle at 322.7 yen ($3.92) per kg. The dollar fell to a 15-year low against the yen ahead of US jobs data and on prospects the Federal Reserve will start pumping more money into the US economy next month to boost growth. Oil fell on Friday, erasing gains for the week, as the dollar strengthened on speculation the US jobs market may have emerged from a soft patch, putting into question the urgency of further monetary stimulus. The most active March contract on Shanghai rubber futures, jumped to its highest in more than two years on Friday as the market reopened after a week-long holiday. The contract hit a high of 27,540 yuan a tonne, its strongest since mid2008. -Reuters
Commodities poised to ride central bank cash higher
Palm oil ends off 26-mth top on China KUALA LUMPUR: Malaysian palm oil ended off a 26-month high and other vegetable oil markets edged higher as traders bet China would start to restock after the long holidays at a time of possible tight global supplies. But some traders turned cautious later in the session after news that India would probably cut down on some vegetable oil imports as rapeseed output jumped in a key producing state. Benchmark Malaysian palm oil futures rose as much as 0.8 per cent at 2,808 ringgit ($909) per tonne, a level unseen since Aug 8, 2008. The contract ended 26 ringgit lower at 2,760 ringgit. Trades were brisk, with 14,443 lots of 25 tonnes each changing hands, up from the usual 10,000. India and China's import trends for October will emerge when cargo surveyors issue Malaysia's October 1-10 palm oil export data on Monday. Industry regulator Malaysian Palm Oil Board will unveil September palm oil stocks data
on the same day. Vegetable oils got some support from Ukraine's announcement it would curb grains exports until the end of 2010, lower soy production forecasts in Brazil and estimates of lacklustre Malaysian palm oil output. Soaring demand for vegetable oils used in food and biofuel will send Chicago soyoil prices to highs not seen since 2008, a renowned oilseed analyst said. The comments lifted US soyoil for Oct delivery by 0.9 per cent in late Asian trade. China's palm olein contract ended higher after going as high as 2.1 per cent on Friday as the market reopened after a weeklong National Day holiday and traders played catch-up with other markets, driven recently by the weaker US dollar. Reflecting the uncertainty, China's most active May 2011 soyoil contract fell 0.2 per cent as traders expect the country to release more soyoil from its state reserves to make way for the incoming soy harvest. Reuters
NY cotton climbs before USDA report NEW YORK: Cotton futures closed sharply higher Thursday on speculative and trade buying as players braced for release of a key government crop report, brokers said. ICE Futures US benchmark December cotton contract went up the 4.00-cent limit to finish at $1.0375 per lb, the highest close for the second position cotton contract in a week. The session low was at 99.64 cents. Back contracts posted gains from 0.83 cent to 2.03 cents. The US Agriculture Department's monthly supply/demand report will be released Friday. The cotton trade is anxious to see if USDA raises its estimate of US cotton exports and production figures for top consumer China, No. 2 producer India and flood-hit Pakistan. Total volume traded hit 30,642 lots at 1853 GMT, about twothirds above the 30-day average
at 18,305 lots, preliminary Thomson Reuters data showed.
NY cotton at mid-day Cotton futures were up their 4-cent limit Friday at a fresh 15year top on combined investment fund and Chinese mill buying, with a US government crop report further fueling the appetite of market bulls, analysts said. ICE Futures US benchmark December cotton went up its 4cent limit to $1.0775 per lb at 1415 GMT, the highest level for the second position cotton contract in 15 years. The session low was $1.045.
Volume traded Wednesday reached 13,569 lots from the prior tally of 28,039 lots, according to data from ICE Futures US. Open interest in the cotton market stood at 231,203 lots as of Oct. 6, ICE Futures US data showed. -Reuters
Oil up on weak dollar as US payrolls slip NEW YORK: Oil prices rose on Friday as investors bet that worsethan-expected unemployment in the United States bolstered the case for looser monetary policy that would weaken the dollar. The oil futures complex got further support as a strike at France's top oil port, now in its 12th day threatened to cut European oil products output. Also, a surprisingly sharp cut in the US government's corn crop
lar is likely thereby creating more commodity inflation. It's not a demand issue with the employment backdrop; it's financial physics at work." Four oil refineries in southern France face closure this weekend, the country's oil lobby said on Friday, after workers at a key oil port voted to continue a strike for a 12th day. Earlier this week, the US Energy Information
forecast sent cash ethanol prices sharply higher. US nonfarm payrolls fell 95,000 in September, the US Labor Department said. Private sector jobs rose 64,000, less than the consensus forecast, after a 93,000 rise in August. US crude for November delivery rose $1, or 1.22 per cent, to $82.67 per barrel at 1600 GMT, having traded from $80.30 to $83.13. ICE Brent November crude rose 63 cents, or 0.76 per cent, to $84.06 a barrel. "The negative unemployment report makes quantitative easing after the election a virtual certainty. This expectation has already affected the dollar's value and pushed energy prices higher," said John Kilduff of Again Capital LLC in New York. "Another leg lower for the dol-
Administration data showed US crude stocks rose by a greaterthan-expected 3.09 barrels last week, though refined fuel stocks fell. Crude and refined oil stocks remained above year-ago levels, the EIA said. The Organization of the Petroleum Exporting Countries meets in Vienna next week to consider production and market share policy with crude prices since May hemmed between the $64.24 intraday low on May 20, the weakest price since July 30, 2009, and the 2010 peak of $87.15 reached on May 3. -Reuters
Raw materials up more than 10pc since late August NEW YORK/LONDON: Commodities could extend a rally that has lifted prices more than 10 per cent since late August, if central banks pump billions more dollars into the global economy to prop up the sputtering recovery. Raw materials prices surged after US Federal Reserve Chairman Ben Bernanke said on Aug. 27 the Fed was prepared to use "unconventional" policies such as buying more long-term securities to drive down interest rates, if necessary. "Increasing liquidity in money markets invariably finds its way into commodity markets. Anticipation of higher liquidity is already supporting oil markets as can be seen from the impact of the Japanese action," said Credit Agricole energy analyst Christophe Barret. The Bank of Japan on Oct 5 cut its benchmark interest rate to zero and pledged to step up asset purchases to help the struggling economy. Many economists expect similar action by the Fed. US crude oil futures broke through to a two-month high that day, extending a rally that has taken them out of a fivemonth trading range between $70 and $83 a barrel. Industrial metals also surged in the wake of the speech, led
by copper's 13 per cent rise, despite the economic weakness prompting central banks to mull another round of unconventional monetary policy they call "quantitative easing." Gold has smashed records in recent weeks as investors piled into the yellow metal to protect themselves from weaker currencies, expected to decline as the quantitative easing policies essentially amount to printing money. "The fact that (quantitative easing) debases currencies is good for gold, the fact that it raises the prospect of inflation is good for commodities in general," said David Hufton, managing director of PVM Oil Associates in London. In the first round of quantitative easing sparked by the collapse of Lehman Brothers, the Federal Reserve pumped $1.7 trillion into the economy, buying various credit instruments. The action reflated asset prices, contributing to a 15 per cent annual gain in oil and similar gains in copper and precious metals, according to Bank of America Merrill Lynch. Upward pressure on commodities is not solely due to flows of funds, many analysts say, pointing, to capacity constraints that sent prices soaring this decade before the US housing bubble burst and the world's
top economy slid into recession. "Although capacity utilization remains depressed in many sectors of the economy, capacity utilization in commodity sectors -- mining and petroleum in particular -- are at or above pre-crisis levels," Merrill said on Thursday in a research note titled "The Liquidity Supernova". The next round of quantitative easing, which many financial professionals refer to as QE2, could well lead to big price gains in capacity constrained sectors and will likely lead to gains even if it fails to stimulate broader economic growth. "The introduction of QE2 should provide great support for commodities prices even if demand stays weak," the Merrill research note said. Heavy bets on commodities as a proxy for macroeconomic conditions have already changed pricing in many futures markets. Future deliveries of many commodities now cost more than prompt delivery, a condition known as contango that quantitative easing is likely to exacerbate. "You may see a huge amount of futures buying which means there's perhaps greater demand for long-dated futures contracts and less demand, at least initially, for the physical markets ... but that should moderate and
reverse going forward after the QE becomes effective in stimulating actual demand," argued Deutsche Bank analyst Daniel Brebner. Liquidity should bolster agricultural commodities over the longer term as well, noted grain markets analyst Jeff Thompson of ABN Amro. "General inflation worldwide will take us up," he said. "It is just going to (provide) an underlying buoyancy." Central banks in big foodimporting emerging markets like Mexico are already taking note of rising food costs. The Mexican central bank added grain prices to its list of inflationary pressures it was monitoring in its latest monetary policy statement last month. Still, there is a risk that heavy speculation in commodities could undermine the recovery that investors are betting on. Some say a surge in raw materials prices could squeeze consumers and hurt the commodity-dependent emerging market economies currently driving world growth. Also, quantitative easing is no sure bet. Bernanke has promised to use the policy only if necessary and with policymakers warning of currency wars if a sharp devaluation of the dollar exacerbates global trade imbalances. -Reuters
Sugar extends rally; coffee, cocoa rise LONDON: Sugar futures rallied five per cent on fund buying and tight supplies on Friday, while coffee and cocoa rose, pressured by a weakening dollar after disappointing US jobs data. Benchmark March ICE raw sugar jumped to a session high of 26.45 cents a lb, while December Liffe white sugar hit a contract high of $683.20 a tonne as funds and investors piled in due to a tight supply outlook. "It's fund and spec buying amid concern over tight supplies because of delays in shipments out of Brazil," a Londonbased sugar futures dealer said. The line of ships waiting to load sugar at Brazilian ports on Oct. 6 remained steady with the same number the week prior at 108, shipping agent Williams said. Dealers also voiced concerns over adverse weather in key producers such as Mexico, Argentina and Australia. The International Sugar Organization said it expected white sugar supplies to remain tight in the coming 10 months. London December white sugar traded up $32.20 or 5 per cent at $682.00 per tonne. ICE March raw sugar traded up 1.22 cent or 4.85 per cent at 26.38 cents a lb. Coffee futures erased earlier losses, with fundamentals taking a back seat as dealers waited for macroeconomic news. "There's too much economic uncertainty at the moment so people are holding their positions. Most people are waiting for news on the economic outlook," a London-based broker said. ICE March arabica coffee futures traded up 5.00 cent or 2.85 per cent at $1.8030 a lb. Liffe January robusta coffee was up $15 or 0.9 per cent at $1,668 per tonne. In cocoa dealers eyed any updates on the extent that crop disease black pod is damaging Ivory Coast beans. Liffe second-month March cocoa traded up 14 pounds or 0.75 per cent at 1,876 pounds a tonne, while ICE December cocoa traded up $38 or 1.4 per cent at $2,778 per tonne. Reuters
Indian sugar slips on subdued demand MUMBAI: India's spot sugar prices fell on Friday on subdued demand as traders expected prices to comedown further, dealers said. In Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety fell 0.58 per cent to 2,550 rupees ($57.40) per 100 kg. Fresh showers in India's key sugar producing states of Maharashtra and Karnataka are likely to delay cane crushing by a month, industry and government officials told Reuters on Tuesday. India, the world's biggest consumer of the sweetener, has made available 1. 75 million tonnes of non-levy sugar for October, lower than 1.85 million tonnes it had released a year ago, the government said in a statement earlier this week. The country is expected to produce 26 million tonnes of sugar in 2010/11, up from previous forecasts of 25 million tonnes, Prakash Naiknavare, managing director of Maharashtra State Cooperative Sugar Factories Federation, had told Reuters in an interview. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for October 07 2010 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1300
1165
October (3rd Wednesday)
1305
1150
November (3rd Wednesday)
1315
1160
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for October 07 2010
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY
Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller
2170 2175 2170 2175 2120 2130 2120 2130
2342.5 2343 2375 2376 2445 2450 2508 2513
8261.5 2280.5 8262 2281 8285 2306 8286 2307 8155 2313 8165 2318 7880 2290 7890 2295
24725 24730 24725 24730 23975 24075 22900 23000
TIN
ZINC NASAAC
26500 2301.5 26550 2302 26445 2332 26450 2332.5 25750 2377 25800 2382 2365 2370
2231 2232 2250 2260 2260 2270 2310 2320
Muhammad Izzudin Abdul competes during the Men's Team Recurve event at Yamuna
10
Saturday, October 9, 2010
Pietersen denies his ‘career ending’ remarks LONDON: England batsman Kevin Pietersen dismissed a newspaper report quoting him as saying he was "on the way down" as a cricketer, saying his words had been taken out of context. "I was only talking about my age, nothing else," Pietersen, 30, told Reuters on Friday before playing a game for the KwaZulu-Natal Dolphins. Pietersen, who has not scored a test century since March 2009, had been quoted as saying on the website of Britain's Daily Mirror, "I have probably got to the top of the fence and am on the way down." Pietersen is in South Africa to play two first-class matches for the Durban-based Dolphins in an effort to regain his form before England's five-test Ashes series against Australia starting in Brisbane on Nov 25.-Reuters
Red Bull dominates as Hamilton suffers SUZUKA: Sebastian Vettel led championship leader Mark Webber in a dominant Red Bull one-two in both practice sessions for the Japanese Grand Prix on Friday. While they flaunted an advantage of more than half a second over their title rivals, McLaren's Lewis Hamilton could only watch impotently from the sidelines after crashing in the morning. When the 2008 Formula One champion did get back on track with eight minutes of the second session remaining, the Briton was able to complete just six laps with the 13th fastest time of the afternoon. The 25-year-old, determined to throw caution aside after three retirements in four races dropped him to third place and 20 points behind Webber, had completed nine laps before running wide at the Degner double right-hander and smacking the tyre wall. The car came to a halt under the bridge with the front left wheel hanging limply. Hamilton stepped out, shaking his head but keeping his yellow helmet on to hide his undoubted fury at having to sit out the remaining 45 minutes. With heavy rain forecast for Saturday, the McLaren title contender knew he had blown his chance of really getting a feel for the new bits his team had brought to the race in an all-out push to catch up with Red Bull.-Reuters
MISBAH GIVEN SKIPPER’S CAP FOR SA TESTS
l Misbah given captaincy despite recent return l Afridi remains ODI, T20 skipper l Intikhab to polish Pak's image l Newly appointed manager denies differences with coach
KARACHI: The Pakistan Cricket Board (PCB) sprang a surprise by appointing Misbah-ul-Haq as captain for the upcoming test series against South Africa, while retaining Shahid Afridi as
is a surprise given he was only recalled to the national team for the one-dayers and T20 against South Africa on Thursday after a gap of six months. The 36-year-old, who has never captained Pakistan in test matches, last played in
South Africa by recalling opener Taufeeq Umar for the first time since he played against England in August 2006. Also recalled was fast bowler Mohammad Sami, who was dropped after the Australian tour. Selectors
determined to steer his under-fire players away from further controversy and restore the tattered image of the national team. Alam was appointed manager for the upcoming series against South Africa in the UAE by the Pakistan Cricket
since I have accepted it I take it as a challenge and my priority is to ensure no more damage is done to the image of Pakistan cricket," the former test captain told Geo Super channel. Brushing aside the rumours of differences with national
good relations with all team members," he told a cricket website. The Pakistan Cricket Board (PCB) on Thursday named Intikhab Alam the new team manager for the upcoming UAE tour. He was stripped from his coaching job fol-
Misbah-ul-Haq (Capt)
Azhar Ali
Danish Kaneria
Imran Farhat
Abdul Rehman
Wahab Riaz
skipper for the one-dayers and T20 matches. PCB spokesman Nadeem Sarwar confirmed the appointments and said details would be given later. The appointment of Misbah
the T20 World Cup in West Indies and his last test appearance was in January against Australia in Sydney. National selectors announced a new-look squad for the two tests against
also showed confidence in youngsters Azhar Ali, Asad Shafiq and Zulqarnain Haider. Intikhab's Priorities Meanwhile new cricket manager Intikhab Alam is
Board on Thursday, just seven months after he was removed as coach following a shambolic tour of Australia. "It is not going to be an easy job for me this time but
team's coach Waqar Younis, the newly appointed team manager Intikhab Alam has said that he has good terms with him. "There is no dispute with Waqar Younis. I have very
lowing Pakistan's victoryless tour of Australia. Alam has replaced Yawar Saeed, who had resigned after the turbulent England tour. "I have accepted this job as a challenge," he said.
Tauseef Razi Mallick
Huegill breaks men’s drought
Gilani accepts Dr Shah’s apology
Shah’s money stolen at CWG
NEW DELHI :It took the oldest bloke in the team to break the Australian men’s swimming gold medal drought at the Commonwealth Games. Twelve years after winning his first Games gold medal and eight years since Australia won an individual men’s title, Geoff Huegill capped his remarkable comeback from obesity to win the 100m butterfly gold medal in Delhi on Friday. “There’s some hope for the old buggers,” said the 31-year-old Huegill. Minutes later, a girl more than half his age won the first of what could become a career full of major medals when 15-year-old Yolane Kukla took out the 50m free style. -Agencies
NEW DELHI: Pakistan's delegation leader at the Commonwealth Games has claimed he had about $560 stolen from his room at the athletes' village. Dr Mohammad Ali Shah, who almost sparked a boycott by Pakistan's weightlifters when he decided at the last minute to carry the national flag into the opening ceremony, told that 24,800 rupees were taken from a blazer in his room while he was out having breakfast. Shah, who is also Pakistan's provincial sports minister, said he kept the money in a blazer pocket inside a cupboard. "When I came back the money was not there," Shah said. He lodged a written complaint to the Commonwealth Games organising committee and said police were investigating. Shah said he'd asked managers at the village not to allow anybody into the rooms of
Pakistan's contingent in their absence. "But I think somebody used the master key and have stolen the money," he said. Earlier Prime Minister Yousuf Raza Gilani has accepted the unconditional apology from Pakistan's chef de mission Dr Mohammad Ali Shah for his unilateral decision to carry the country's flag in place of the nominated flag-bearer, Shujauddin Malik, at the opening ceremony of Commonwealth Games in India. Sources revealed that Gilani has also directed the sports ministry to take appropriate measures to avoid such untoward incidents in future, a local daily reported. Earlier, during the CWG opening ceremony in New Delhi, when the Pakistani contingent arrived on the ground, the announcer said the former gold medallist, weight-lifting star Malik was leading the side. However, TV viewers were startled to see that an aged per-
son was holding the flag and leading the contingent. Later, in an even more embarrassing footage Shah was shown pulling the flag from Malik's hands moments before the team marched into the stadium. Malik then revealed that Shah had threatened to send him home if he complained. As a result, Pakistani weightlifters threatened to pull out of the Delhi Games. Gilani, taking serious notice of the incident, ordered an inquiry, in which Shah claimed he did not know Malik was to carry the national flag. To diffuse the crisis, a meeting was held in New Delhi after the ceremony with Pakistan Olympic Association President Arif Hasan in the chair, during which Shah tendered an apology to Malik. By the time the inquiry report was sent to Gilani, Shah also sent an unconditional apology to him.-Agencies
Nadal still far away from Federer’s class MADRID: Rafa Nadal has toppled Roger Federer from the summit of the tennis world rankings but overtaking his arch rival as the sport's number one in off-court earnings is likely to prove a much stiffer challenge. Nadal, 24, joined the 29year-old Federer and five other players on an elite list when he swept to victory at last month's US Open and completed a career grand slam of all four
major tournaments. The Spaniard, who now has nine grand slam singles titles, has shrugged off the niggling injuries that had plagued him over the past couple of seasons and his career is very much on the up, while the Swiss, who has a record 16 major singles titles, is closer to the end of his. However, Federer's annual earnings of $35 million from sponsorship and appearance
fees are still more than double those of Nadal, who makes around $15 million, according to an estimate by Forbes Magazine. Both players had lucrative sponsorship deals with Nike, with Federer's worth around $10 million a year and Nadal's $7 million, Kurt Badenhausen, a senior Forbes editor who compiles annual rankings of athletes' earnings, told Reuters. Federer, who is sixth on the
latest Forbes list of the world's best-paid athletes, has sponsors including Credit Suisse, Gillette, Mercedes Benz and Rolex. Nadal, who does not make the top 50, has deals with Kia Motors and Spanish financial firms Banesto and Mapfre, among others. Nadal's victory in New York last month was likely to dramatically raise his profile among corporate sponsors and widen his earnings potential beyond the tennis
industry and regional deals in Spain, Badenhausen told Reuters by telephone. However, the difficult economic climate and the fallout from the revelations about the private life of golfer Tiger Woods, previously the darling of corporate sponsors, had made companies wary of committing large sums to endorsement deals, he added. "If you look around the endorsement landscape almost
nothing is getting done," Badenhausen said. "Nadal's already a pretty established player and I don't think we're going to see five or six companies rushing to give him new deals." "He's going to be hard pressed to surpass Federer in off-court income but I can see his earnings going up to $20 or $25 million over the next year or two." Like Federer, Mallorca-born Nadal has many
of the attributes that corporate sponsors look for in an athlete, according to Antonio Martin, director of the Masters programme in sports management at the IE Business School in Madrid. These included sporting success, an attractive character and physique, hunger to keep winning, a desire to improve and continue learning, humility, respect for opponents and accessibility to fans, Martin told Reuters. -Reuters
Mosque bomb kills Afghan governor
UK producer prices firmer than expected in September
TALOQAN: A large bomb blast tore through a mosque in northern Afghanistan on Friday, killing a provincial governor and at least a dozen others attending prayers, in the highest-profile assassination in over a year. The death of Mohammed Omar, the governor of Kunduz, leaves a power vacuum in the heart of the country's once peaceful northeast, where the insurgency is strengthening its grip as the war with NATO-led foreign troops enters its tenth year. The outspoken former militia fighter was a staunch opponent of the Taliban and had fought to prevent Kunduz -- the last city to fall to US-backed Northern Alliance forces after the US invasion in 2001 -- from becoming an insurgent safehaven. The blast blew the windows out of the mosque and spattered shoes left by worshippers outside it with blood. The imam also died and at least 20 people were wounded. "I had just finished my prayers when a huge blast knocked me down," said Mohammad Aslam, a student who was in hospital with shrapnel wounds. "I don't know how I was brought here." Omar's killers targeted him in Taloqan, the capital of his native Takhar province, where he kept a home. It borders Kunduz and is considered safer. Hours after the attack there were conflicting casualty reports. Takhar police said the
LONDON: Higher wheat prices led to a sharper than expected rise in British manufacturers' raw materials costs last month, while annual factory gate inflation slowed less than expected, official data showed on Friday. The figures will disappoint Bank of England policy makers at a time when consumer price inflation is running more than a full percentage point above the bank's 2 per cent target. The Office for National Statistics said producer input prices rose 0.7 per cent on the month in September, almost double analysts' expectations, and raising the annual rate to 9.5 per cent from 8.7 per cent in August. That was the biggest monthly rise in the annual rate since April. Output price inflation eased for a fifth consecutive month to 4.4 per cent year-on-year from 4.7 per cent in August. The decline was smaller than expected but still took factory gate inflation to its lowest in seven months. The pound rose after the figures as markets speculated that stubborn inflation pressures lessened the likelihood the Bank of England would adopt any further monetary easing to shore up the economic recovery. "When you are in an environment where inflation has been above target for so long, signs of greater price pressures at any stage of the production process are worth listening to," said Philip Shaw, economist at investec. "So this release may have a part to play, albeit a modest one, in assessing whether the Monetary Policy Committee provides more quantitative easing in due course." British consumer price inflation has proved to be surprisingly resilient this year, forcing BoE Governor Mervyn King to write several letters of explanation to the government. The central bank is convinced that high inflation is largely due to temporary factors and will fall back over the course of the next two years. However, the outlook remains highly uncertain, and has been the subject of vigorous debate on the MPC. One member, Andrew Sentance, has been calling for higher interest rates since June, but his colleague Adam Posen argued last week that there was a strong case for pumping more money into the economy. The BoE opted to leave interest rates on hold at a record low 0.5 per cent on Thursday and left the stock of its asset purchase programme unchanged at 200 billion pounds. Minutes to the meeting later this month will reveal whether Sentance or Posen were able to win other policy makers round to their view. Higher cereals prices contributed to a rise in the annual rate of inflation of domestically-produced food to 9.9 per cent, its highest since October 2008. Wheat prices have risen strongly in the summer as a result of a drought in major producer Russia.-Reuters
blast killed Omar and 15 others. A governor's spokesman said 12 people died and more than 30 were wounded. President Hamid Karzai's office put the toll at 21. Omar had narrowly escaped two previous attempts on his life -- a roadside bomb just two months ago that destroyed a police vehicle in his convoy and an ambush last year. Attacks during religious ceremonies are relatively rare in Afghanistan. Insurgents have not killed a provincial governor since a 2008 roadside bombing near Kabul, and Omar was the most senior government victim of the war since the assassination in September 2009 of the deputy intelligence chief, Abdullah Laghmani. Lower-level murders are common however. The deputy governor of Ghazni province was killed with five others in late September by a suicide bomber in a rickshaw, and Omar's brother, a local police chief, was killed in May last year. Omar was a militia commander in Afghanistan's civil war, who fought the Taliban as part of the Northern Alliance, although he hailed from the same Pashtun ethnic group as his opponents. Considered tough on security issues, and broadly supported by the people he ruled, the governor often criticised Pakistan for meddling in Afghan affairs and last year censured the German troops who make up
the majority of foreign forces in Kunduz. He was sometimes referred to as the "Engineer" as he had completed part of an engineering degree. "He was very active in trying to improve security and bringing rival tribes together to fight against the Taliban," said a prominent tribal elder from the region, Mohammad Akbar. The Taliban insurgency has spread from its heartland in the south and east to northern parts of the country. Kunduz province in particular has seen an upsurge in violence in recent months. But the bombing underscores the complexity of the conflict in areas where the Taliban are jostling with other international and domestic militant groups as they try to expand their influence. "This is an important place, so there is a reason for them to want to eliminate their enemies," Kamran Bokhari, regional director at STRATFOR risk consultancy, told Reuters. "But an assassination like this could also hurt the Taliban, as this is an area where they need to have as many allies as possible. This is not their core turf," he said. The war has become bloodier than ever and US President Barack Obama and fellow leaders from NATO countries face intense pressure at home as the conflict grows increasingly unpopular with the public.Reuters
US payrolls fall, Fed monetary easing idea advances Data supports views Fed will ease policy next month WASHINGTON: The US economy shed jobs in September for a fourth straight month as government payrolls fell and private hiring slowed, hardening expectations for more stimulus from the Federal Reserve to spur the recovery. Nonfarm payrolls dropped 95,000, the Labor Department said on Friday, pulled down by the end of temporary jobs for the US Census and steep losses at struggling local governments. Private employment, a better gauge of the labor market, rose 64,000 after a 93,000 gain in August, below levels that would suggest a self-sustaining recovery from the recession. The employment report was the last before the Nov. 2 midterm Congressional elections and was a blow for President Barack Obama's Democratic Party, trailing in opinion polls. The unemployment rate was unchanged at 9.6 per cent. Analysts said it was now almost certain that the Fed would announce a second program of asset purchases next month, even though there appeared to be no consensus
among policymakers. "I think the Fed is going to act in November, they need to press harder on the accelerator. The outlook for 2011 is weakening because the labor market is struggling to gather any momentum at all," said Ryan Sweet, a senior economist at Moody's Economy.com on West Chester, Pennsylvania. Financial markets had expected overall payrolls would be unchanged, with private-sector hiring gaining 75,000. US stocks were little changed. Prices for government debt rose on the growing conviction the Fed would inject more money into the economy at its Nov. 2-3 meeting. The US dollar fell to a 15-month low against the yen. The US central bank cut overnight interest rates to near zero in December 2008 and has already pumped $1.7 trillion into the economy by buying mortgage-related securities and government bonds. Friday's data came as top finance officials from around the world gathered for International Monetary Fund meetings in Washington, where
11
International & Continuation
Saturday, October 9, 2010
the plunging dollar and soaring emerging market currencies are top of the agenda. While financial markets appear to have priced in further monetary easing next month, some Fed officials are not so sure. St. Louis Fed President James Bullard told CNBC television that policymakers could wait until December if they felt the need for greater clarity on the outlook. "This upcoming FOMC meeting is going to be a tough call, because the economy has slowed but it hasn't slowed so much that it's an obvious case to do something," Bullard said. The recovery from the longest and deepest downturn since the 1930s has slowed, but neither Fed officials nor many economists say a new downturn is likely. The government revised data for July and August to show 15,000 more jobs were lost than previously reported. It also said its preliminary benchmark revision estimate indicated employment in the 12 months to March had been overstated by 366,000.-Reuters
CONTINUATION adding if the Parliament wants, the government may also impose Continued from page 12 No #1 detailed meeting with Secretary Food and Cane Commissioner wealth tax to bring the wealthier class under the net. - APP in the Assembly Chamber of the Speaker and it was suggested that Continued from page 1 No #4 payment slip by the mills should be made a negotiable instrument. by 7.4 per cent to $1.62 billion in above mentioned period. The government, he said, is working on this proposal in the largContinued from page 1 No #5 er interest of the growers.-APP meeting. The Chilean Foreign Secretary, articulating the key Continued from page 1 No #2 elements of Chile's foreign relations, stated that his country confidence. Justice (Retd) Shah belongs to PPP and had been attached great importance to upgrading its bilateral relations with elected twice as MP under PPP auspices and is a retired judge of Pakistan in all walks of life. Foreign Secretary Salman Bashir the Supreme Court. Sources told that Justice (Retd) Shah would reiterated Pakistan's desire to augment its relations with Chile assume his charge in a day or two. SC had given a month to govunderlining that Pakistan held great investment opportunities and ernment to appoint NAB chairman however on Sept 30 the govthat the two countries should examine possibilities in multiple ernment had sought an extension of 10 days and had to appointareas including economic, commercial, cultural, science and techment new chairman by October 9. Talking to media outside Parliament here Federal Minister for nology and people-to-people contacts. The Foreign Secretary expressed satisfaction at the level of Law and Justice Dr Babar Awan said that this appointment has been decided and he would be appointed soon. Leader of the bilateral cooperation at different multilateral forums. The two sides agreed to look into the possibility of entering into House has consulted with the Opposition leader in this regard while leader PML-N Nawaz Sharif had showed confidence over a free trade agreement which would accrue mutual benefits. They also agreed to work towards instituting bilateral annual him in the past, he added. Meanwhile PML-N has categorically rejected the appointment of Justice (Retd) Deedar Hussain as new political consultations between the Foreign Ministries of the two NAB chairman, over the grounds of his political affiliation with countries. The Chilean Foreign Secretary expressed the hope that PPPP. Talking to media the central leader of PML-N, Khawaja they would be able to reopen their resident diplomatic mission in Asif said that his party had already rejected the appointment of Islamabad, which was closed down in 1989, as soon as possible. The two sides agreed to expedite the matter of a visa abolition Justice (retd) Deedar Hussain over his political affiliation with agreement for diplomatic passports of the two countries. PPPP, and for holding a post of MPA previously.-Agencies Foreign Secretary Bashir gave a detailed briefing on the regional Continued from page 1 No #3 situation and how Pakistan was earnestly engaged in promoting However, efforts are being made to enhance tax to GDP ratio, peace and stability in South Asia.-APP
Canada sheds jobs, rate hike seen even less likely OTTAWA: Canada's economy unexpectedly lost 6,600 jobs in September, a surprise development that further reduced already slim chances the Bank of Canada will raise rates again later this month. Analysts had predicted a gain of 10,000 jobs in September. The unemployment rate edged down to 8.0 per cent from 8.1 per cent in August as fewer people participated in the labor force, Statistics Canada said on Friday. The data followed a raft of figures showing the Canadian economy is slowing after a fast start to the year. It mirrored the employment trend in the United States, where non-farm payrolls fell an unexpectedly large 95,000. "There's no doubt the job market has slowed and has slowed notably from its very strong pace earlier in the year," said Doug Porter, deputy chief economist at BMO Capital Markets. "The market had basically priced the Bank of Canada out (of further rate hikes). This won't do anything to change that." The Bank of Canada raised rates for the third time since June last month, but made clear it would carefully consider the patchy recovery before acting again. Based on a Reuters calculation, the market is pricing in an 89.32 per cent chance rates will remain on hold at the Oct. 19 rate decision, compared with 88.97 per cent
just before the data. The Canadian dollar touched a session low of C$1.0238 to the US dollar, or 97.68 US cents , from around C$1.0188, or 98.15 US cents before the data. It later recovered. Statscan said part-time jobs fell by 43,700 in September, overshadowing a gain of 37,100 full-time positions. Over the past year, part-time employment has increased by 4.6 per cent, a faster pace than the 1.5 per cent growth in fulltime jobs. Canadian Finance Minister Jim Flaherty said he was not surprised by the data and was encouraged by the growth in full-time jobs. Eric Lascelles, chief Canada macro strategist at TD Securities, said the market could now assume that interest rates would be on hold for a while." But Lascelles noted that the report wasn't quite as soft as it seemed on the surface, given the healthy gain in full-time jobs, the drop in the unemployment rate and wage growth. The average hourly wage of full-time permanent employees, closely watched by the Bank of Canada for inflation pressures, rose 2.5 per cent in September from a year earlier. The equivalent figure for August was 2.3 per cent. The report showed employment among 15- to 24-yearolds fell by 42,000. But analysts said investors needed to look past the negative headline.-Reuters
German export drop adds to worries over euro BERLIN: German exports fell in August for the second consecutive month, narrowing the trade balance and adding to concerns that a stronger euro may weigh on the pace of Europe's economic recovery. Data on Friday from the Federal Statistics Office showed that exports fell by 0.4 per cent from July, while imports rose 0.9 per cent, adjusted for seasonal swings. A Reuters poll had forecast exports would fall 0.3 per cent on the month in August, with imports seen rising by 0.4 per cent. The figures come as world financial leaders gather for meetings in Washington with concerns over competitive devaluations of currencies high on the agenda. "A new cloud seems to be hanging over the outlook for exports," said ING Financial
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Markets analyst Carsten Brzeski. "Since early June, the euro has gained more than 16 per cent against the US dollar.No doubt about it, a stronger exchange rate will eventually have an impact on exports and growth." The figures yielded a trade surplus with the rest of the world of 11.7 billion euros in August, down from 12.6 billion in the previous month and well below forecasts of a surplus of 12.5 billion euros. "It looks as if foreign trade won't contribute to growth in the third quarter," said Alexander Koch from UniCredit. "This doesn't mean however that the outlook for exports has worsened. We are simply seeing a breather or normalisation after the very strong prior growth." -Reuters
Japan service sector sentiment worsens TOKYO: Japan's service sector sentiment index slipped to 41.2 in September, a Cabinet Office survey showed on Friday, as benefits from government stimulus steps wear off and worries about a strong yen weigh on business confidence. The survey of workers such as taxi drivers, hotel workers and restaurant staff -- called "economy watchers" for their proximity to consumer and retail trends -- showed their confidence about current economic conditions fell from 45.1 in August. The Cabinet office in August downgraded its assessment on the economy watchers' survey for the first time in nine months. The Cabinet Office started compiling the data in comparative form in August 2001. The outlook index, indicating the level of confidence in future conditions, rose to 41.4 from 40.0 in AugustReuters
Euro zone inflation pressure at 22-mth high LONDON: Inflationary pressures in the euro zone increased to a 22-month high in August, according to an indicator from the Economic Cycle Research Institute. New York-based ECRI said its Eurozone Future Inflation Gauge rose to 97.7 in August from 96.5 the previous month, pushed up by rising inflationary pressures in Germany, France, Italy and Spain. "Despite slowing growth in the euro zone, underlying inflation pressures continue to creep up," said Lakshman Achuthan at ECRI. The European Union's statistics office Eurostat said last week it estimated that inflation in the 16 countries using the euro was 1.8 per cent year-on-year in September, up from 1.6 per cent in August. Inflation in the euro zone is expected to remain well below the European Central Bank's two per cent target ceiling at least until the end of 2011, according to median forecasts in a Reuters poll. The ECB on Thursday left its key interest rate on hold at a record low of 1.0 percent and President Jean-Claude Trichet said inflationary pressures over the medium term remained containedReuters
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per kilogram. Ogra must intervene, if it can't, there is no justification for its existence," the advisor said.-Agencies
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response to tender dated 29-09-2010, received offers from 127 parties from Province of Punjab (Lahore, Gojra, Faisalabad & Islamabad), Sindh (Karachi, Mirpur Khas, Jacobabad & Hyderabad), Balochistan (Quetta) and Khyber Pukhtunkwa ( Peshawar). The 2nd tender also received a widespread response by the retailers, traders, whole-sellers from all over the country. The tender offered minimum quantity of 50 MT and maximum quantity of 500 MT, the notice said. Moreover, TCP has awarded the tender to 55 different parties from all the provinces of the country and sold a quantity of 25,200 MT at a weighted average price of Rs59,908/- PMT at the total cost of Rs1.5 billion. Through these two tenders TCP has completed its assignment of selling 50,000 MT of sugar in the open market, which would improve the supply position of sugar in the open market, providing relief to the common man.
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atomic plan of the country. LHC disposed off the petition, terming it ineffective. -Online
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7.6 per cent to $ 77.24/ barrel in December 09-May10 compared with the period June-Nov 2009 when it was $72/ barrel. Similarly, average HSFO prices soared by 9.8 per cent at $459/tonne in the above mentioned period. As PPL, most fields are uncapped thus PPL would be the major beneficiary of this upward revision. Wellhead price of Sui and Kandhkot has been increased by 5.8 per cent to Rs152.2 per mmbtu. Further Sawan and Miano gas prices have also risen to $3.65 per mmbtu --a growth of 4.3 per cent against the previous level. The wellhead gas price of Adhi field has been jacked up by 1.7 per cent to Rs126.1 per mmbtu, similarly Qadirpur field has been priced up by 1.4 per cent to Rs230.8 per mmbtu from previous Rs227.7 per mmbtu. In addition to that, the gas price of Dakhani has also gone up by 1.4 per cent to Rs125.9 per mmbtu from previous Rs124.26 per mmbtu.
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with peace of mind to rehabilitate the devastated agri-scape. He said that the Haris had to be given incentives to return to the lands and asked the provincial government to hold meetings with landowners to address the issue in consultation with them. The President asked the federal Food and Agriculture Minister Nazar Muhammad Gondal to firm up strategy and plans for sunflower sowing in the province in consultation with Sindh agriculture and irrigation minister and representatives of Abadgar, Sindh Chamber of agriculture and other stakeholders. The federal agricultural minister will stay in Karachi for a while to sort out the issues. He said that a decision on surcharge had finally to be taken by respective provincial assemblies in case of provincial subjects and by the National Assembly in the case of federal subjects but asked them to keep in mind that international community will generously help the flood victims provided our own people shared the load in this regard. At a time of national calamity like this let our well to do people share their bounties with their grief and poverty stricken brethren, he said.
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US apology seen as Pakistan win
ISLAMABAD: A US Delegation led by US Assistant Secretary of State for Population, Refugees and Migration, Eric Schwartz called on Federal Minister for Interior, Senator A Rehman Malik at Ministry of Interior. -Online
Two smaller water disputes settled with India: Ashraf Musharraf asks
Kishan Ganga Dam issue going to court ISLAMABAD: Pakistan has instituted proceedings for resolving the dispute with India over Kishan Ganga hydroelectric project by court of arbitration as provided under Indus Basin Treaty (IBT), while two similar but smaller disputes have been resolved bilaterally. Minister for Water and Power Raja Pervaiz Ashraf Friday informed National Assembly about these developments. The court of arbitration is likely to be constituted in the near future, he said. He said India has addressed Pakistan's question with regard to a parapet wall of Nimoo Bazgo Hydroelectric Plant on River Indus. However, on the questions of pondage, spillway and power-intake, Pakistan is intending to proceed further under the treaty, he added. The minister said the issues involving construction of UriII Hydroelectric Plant by India at River Jhelum and Chutak Hydroelectric plant on a tributary of River Indus have been
resolved at the level of Permanent Indus Commission. Replying to another question, the minister said over Rs1.2 billion have been spent on the planning and investigation of Kalabagh Dam Project, adding, final project planning report was issued in 1988 and will be revisited after provinces developed consensus over the project. About Diamir Bhasha Dam, he said designs and tender documents have been completed and part of financing has been promised by Asian Development Bank (ADB). The land acquisition process has been initiated and the prime minister is expected to launch the project next month, he informed the house. He said a comprehensive plan is also afoot to construct a number of small dams in the country to provide irrigation facilities to areas outside the command of Indus system. Referring to a news report about abnormal escalation in the cost of five small dams, the Minister said originally only dams were to be
constructed but now Pakistan Agricultural Research Council (PARC) has submitted a plan for establishing a sprinkler system for irrigation purposes which has led to increase in the overall cost. He said a draft of National Water Policy is being updated taking into account the latest developments in the water sector and the climate change and its impact on water resources. To a question the minister said Alternative Energy Development Board (AEDB) has issued nine letters of intents of over 232 megawatt eight private sector companies. He said, with the financial support of ADB, eight hydro projects having a capacity of 80 megawatts are being set up in Khyber Pakhtunkhwa and Punjab public sector . Minister also told the House that 103 micro hydel projects have been initiated in Chitral and Gilgit-Baltistan. Ashraf said a project, to provide two energy savers to every household in exchange of incandescent bulbs is awaiting government approval.-INP
Trade concessions a fruit of govt efforts: ministry
EU’s easing, tonic for exports: MoC ISLAMABAD: Ministry of Commerce (MoC) Friday said trade concessions announced by the European Union (EU) is a happy notion for exporters and are a result of political leadership's efforts. "This is good news for Pakistan's exports sector", a statement of the MoC issued here said. This concession will remain operative for three years and is likely to take effect from January 1, 2011. EU Council has already announced its intention to facilitate Pakistan's admission into GSP+ concessionary trading arrangement by 2014. The statement elaborated that it is a unilateral concession by the EU as unlike a Free
Trade Agreement (FTA) or a Preferential Trade Agreement (PTA), a unilateral concession is given by importing countries or a trade block and would not based on quid pro quo. That is to say, in this case, Pakistan will not be giving any reciprocal concessions to the EU. The MoC statement further said that the EU offer was not negotiated between the EU and Pakistan, adding, while finalising this package EU did consider Pakistan's preference for product lines. As the package is unilateral and non-reciprocal the mechanism of formal negotiations was not used by EU. Pakistan explained its case
to the countries which were sensitive to grant of tariff concessions to Pakistan, the statement said. Pakistan has also submitted its wish-list to EU which has the whole range of textile items covered in GSP+ and has also asked for concession on items not even included in GSP+ arrangement. Ministry of Commerce would evaluate the impact of these concessions in consultation with stake-holders by holding a meeting at TDAP office Karachi on October 14 at 4pm. This meeting would be presided over by Makhdoom Amin Fahim, Minister for Commerce, the statement added.-APP
Pak, India to first mend Sir Creek, Siachen fences LONDON: Former military ruler Pervez Musharraf says ties between India and Pakistan can be improved by focusing on just two disputes namely Sir Creek and Siachen. Erstwhile president said this while giving interview to an Indian daily. Musharraf, who spoke in his London flat, said the two sides don't have to wait for Kashmir to be resolved. "One could easily go one by one. It will encourage and build confidence. There was no difference of opinion." Even on Kashmir, he said, India and Pakistan had worked out "some parameters of graduated demilitarisation, giving of maximum self-governance, and thirdly an over-watch mechanism involving India, Pakistan and Kashmiris."-Agencies
Sugar mills pay 98.8pc of dues to growers LAHORE: Provincial Law Minister Rana Sana Ullah Khan Friday told Punjab Assembly that sugar mills have so far paid 98.8 per cent of the dues to the cane growers. He elaborated that sugar mills had to pay a total of Rs786.979 million to the growers, out of which Rs770.085 million had been paid. While, the remaining amount would be recovered from the respective mills along with a fine adjusted to the amount to be paid to the growers within next ten days, he added. Minister said that 21 sugar mills had made 100 per cent payments to the growers as well as the sugar cess. While, 13 mills' payments remained above 95 per cent, seven above 90 per cent, one mill above 80 per cent, and three mills' payments were below 80 per cent, he maintained. He informed the house that after the issue of payments to cane growers was taken up in the house, the members held a See # 1 Page 11
ISLAMABAD: Interior Minister Rehman Malik Friday said the US apology for Nato's border transgression is government of Pakistan victory. Wrapping up debate on Nato border incursions in the National Assembly, Rehman Malik said that the killings of three Pakistani troops by Nato troops sent a wave of anger through the country. We held extensive talks with US and ISAF and relayed our reservations in the strongest words, he added. He said Pakistan has been a front line ally of the US in war against terror for the past 11 years and has sacrificed in the line of this battle more than any stakeholder. Nato mandate is limited to Afghanistan and they can't interfere with Pakistan, was his stance. He said it has been made clear that any border violation in future would not be tolerated for then we won't be left with any other choice than exercising other options. We are an honorable nation and we
know how to defend our borders, said he. Condemning the Karachi terror incident Malik said there is no religion in the world that allows suicide attacks and the incident in Karachi goes back to Waziristan. He said a conspiracy is being hatched to destabilise Pakistan and the nation needs to reunite for fighting terrorists. Meanwhile Parliamentarians declaring United Nations and Pakistan policy on war against terrorism as a failure said that US and Afghanistan are making border incursions into Pakistan to hide their failure calling for the government to review its policy. Earlier debating on adjournment motion regarding border incursions by Nato troops former Interior Minister Aftab Sherpao said that prior to recent Nato attacks he had pinpointed in the house that such a situation could arise. Everyday, there is a drone attack, he said adding in September alone 24
attacks took place and US apologised for the same but the problem persists. Sherpao said US now wants to interfere in North Waziristan which is of utmost importance and the issue should be looked into. Former interior minister said after US failure in Pakistan it is now eyeing our areas and we should seek an explanation from US in this regard, adding, Taliban does not want to talk to US showing their upper hand. He said the House should be briefed on what the US wants. Sherry Rehman added to the debate saying the recent drone attacks prove that the UN and Pakistan have failed with regards to their policy on terrorism. She also pointed out that word is doing rounds regarding pouring further Rs110 billion into defence without the parliament approval. Then the National Assembly session was adjourned sine die.-Online
Video footage of uniformed brutes killing non-army-men
Army board to probe alleged civilian slaying RAWALPINDI: Taking notice of a video footage showing cold blooded execution of civilians by men clad in Pakistan Army uniforms, Chief of Army Staff, General Ashfaq Parvez Kayani has ordered setting up of a board of inquiry to establish the true identity of uniformed personnel and the veracity of the video footage. According to ISPR, The board will be headed by a Major General, a two star officer of Pakistan Army. He will be assisted by two/three senior officers having an experience
of investigating into such incidents. Necessary technical expertise will be made available to the board. General Ashfaq Parvez Kayani referred back to his Command Directive on the issues of Human Rights and Extra Judicial Killings, and stated that such violations of his orders, if true, will not be tolerated. He categorically stated that it is not expected of a professional army to engage in excesses against the people whom it is trying to guard against the scourge of terror-
ism. He, however, cautioned against leaping to conclusions about involvement of Pakistan Army soldiers. He pointed out that in order to hide their identities, cause confusion, and malign Army terrorists had disguised themselves as soldiers during a number of attacks including the one on GHQ. General Ashfaq Parvez Kayani also directed commanders at all levels to be vigilant and to follow the Army policy of zero tolerance in such cases in true letter and spirit.Online
Some ISI hands fit in terror gloves: US WASHINGTON: The Pentagon has alleged that some elements of Pakistan's Inter-Services Intelligence were supporting the terrorist networks in the region, thus undermining the war against terrorism by the US-led international forces. Pentagon spokesman Col David Lapan, told reporters that some members of the ISI "might be interacting with terrorist organisations in ways that aren't consistent with what the government and military are doing." The spokesman was responding to questions about a news report in The Wall Street Journal which said that ISI was asking and assisting Taliban against Nato and US forces in Afghanistan. Noting that ISI as an organisation does not support terrorism, Col Lapan said some elements within the intelligence agency are providing assis-
tance to terrorists. Observing that the top Pakistan military leadership is working to correct the problem, he said, but like any large organisation, change is difficult and comes slowly. "The ISI has done a great deal in fighting terrorism. Some have said they probably have killed more terrorists than any other organisation. But we also have some concerns with the strategic focus of the ISI," Lapan Col said, adding that Pakistan army chief General Ashfaq Parvez Kayani is aware of these concern. "Our optimism is that Gen Kayani understands and has made it clear that they need to make some changes," he said. The Pentagon spokesman said there is no word from Pakistan yet as to when the Torkham Gate would be reopened, which is an important supply line for Nato and US troops in Afghanistan.
The crucial supply line was closed by Pakistani officials in the aftermath of death of two Pakistani soldiers in Nato air on 30 September on the AfPak border. The US yesterday apologised for the incident. Col. Lapan acknowledged that the closure of supply line has increased security threat to hundreds of trucks waiting to cross the border, as it was very much evident in increasing number of Taliban attacks on these Afghanistan-bound trucks. "The Pakistanis understand that we would like to see these gates open as soon as possible. We also understand that ultimately it is their decision, they take the security situation into consideration," he said. The Pentagon in the meantime is looking at alternative means till the gate does open. "Pakistan is a friend and an ally of the United States," the spokesman said.-Online
Nobel peace prize for prisoned Chinese OSLO: Jailed Chinese pro-democracy activist Liu Xiaobo won the Nobel Peace Prize on Friday for decades of non-violent struggle for human rights, infuriating China, which called the award "an obscenity." The prize puts China's human rights record in the spotlight at a time when it is starting to play a bigger role on the global stage as a result of its growing economic might. The Norwegian Nobel Committee praised Liu for his "long and nonviolent struggle for fundamental human rights in China" and reiterated its belief in a "close connection between human rights and peace." Liu is serving an 11-year jail term
for helping to draw up a manifesto calling for free speech and multiparty elections. China said the award went against the aims of Alfred Nobel and would hurt ties between China and Norway, which are currently negotiating a bilateral trade agreement. "This is an obscenity against the peace prize," Foreign Ministry spokesman Ma Zhaoxu said in a statement. But Nobel Committee chairman Thorbjoern Jagland said China, the world's second biggest economy, should expect to be under greater scrutiny as it becomes more powerful, just as the United States was after World War Two. "We have to speak when others cannot speak," Jagland told
reporters. "As China is rising, we should have the right to criticise ... We want to advance those forces that want China to become more democratic." Liu's wife, Xia, said she had not expected her husband to win the prize: "I can hardly believe it because my life has been filled with too many bad things. "This prize is not only for Xiaobo but for everyone working for human rights and justice in China," she said in an emotional telephone interview with Hong Kong's Cable television. Rights groups said the prize came at a time when human rights have dropped down the agenda of Western governments focusing on China's growing economic power. Nicholas Bequelin, senior
researcher at Human Rights Watch, called it "a victory for all the courageous Chinese dissidents, activists, lawyers and human rights defenders who have continued to stand up to tyranny for all these years." Earlier this year, Deputy Foreign Minister Fu Ying had warned the head of the Nobel Institute against granting the prize to Liu, saying it would damage ties between China and Norway as they negotiate a bilateral trade deal. China strongly criticised Norway after the 1989 prize went to Tibet's exiled spiritual leader, the Dalai Lama. The last dissident to win the Nobel Peace Prize was Iranian lawyer and human rights campaigner Shirin Ebadi in 2003."Reuters
Printed & Published by Amir Abbas Ashary at DRC Printing Press for Data Research Communication (PVT) LTD, 111-C, Jami Commercial Phase VII, DHA Karachi.