International Karachi, Saturday, September 18, 2010, Shawwal 8, Price Rs12 Pages 12
NODMC TOTALLY NON POLITICAL BODY: PM
SC issues notice for cancellation of bail of Adnan S Khawaja Council instituted to eye aid inflows
See on Page 12
Next PM would be from among us: Pagara
See on Page 12
See on Page 12 Economic Indicators Forex Reserves (10-Sep-10) Inflation CPI% (Jul 10-Aug 10) Exports (Jul 10-Aug 10) Imports (Jul 10-Aug 10) Trade Balance (Jul 10-Aug 10) Current A/C (Jul 10) Remittances (Jul 10-Aug 10) Foreign Invest (Jul 10) Revenue (Jul 10) Foreign Debt (Jun 10) Domestic Debt (Jul 10) Repatriated Profit (Jul 10) LSM Growth (Jul 09 - Jun 10)
GDP Growth FY10E Per Capita Income FY10 Population
Altaf Hussein says Farooq is Shaheed-e-Inqelab
$16.07bn 12.79% $3.56bn $6.25bn $(2.69)bn $(635)mn $1.72bn $144.80mn Rs 84bn $55.63bn Rs 4705.4bn $62.10mn 4.55% 4.10% $1,051 170.56mn
MQM mourns in deep shock l Scotland Yard launches inquiry; secures CCTV footage l President, PM, political leadership condemn murder l Imran Farooq to be buried in Karachi, says Sattar l Rabita Committee announces 10-day mourning
Portfolio Investment SCRA(U.S $ in million)
41.34 -44.53 1.49 2244
Yearly(Jul, 2010 up to 16-Sep-2010) Monthly(Sep, 2010 up to 16-Sep- 2010) Daily (16-Sep-2010) Total Portfolio Invest (3 Sep-2010)
Special Correspondent/ Agencies
NCCPL (U.S $ in million)
FIPI (17-Sep-2010) Local Companies (17-Sept-2010) Banks / DFI (17-Sept-2010) Mutual Funds (17-Sept-2010) NBFC (17-Sept-2010) Local Investors (17-Sept-2010) Other Organization (17-Sept-2010)
-1.06 0.19 0.44 1.93 0.30 -1.71 -0.09
Global Indices Index Close KSE 100 10,052.97 Nikkei 225 9,626.09 Hang Seng 21,970.86 Sensex 30 19,594.75 ADX 2,606.61 SSE COMP. 2,598.69 FTSE 100 5,525.91 *Dow Jones 10,616.55 *Last Updated 20:00 PST
Change 35.83 116.59 279.41 177.26 5.51 3.78 14.23 21.72
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)
$.Price PKR/Shares 2.60 111.37 16.95 145.20 2.00 42.83 1.70 36.41 9.77 33.48
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
12.52% 12.66% 12.79% 13.00% 12.71% 12.75% 12.90% 13.22% 13.30% 13.13% 13.22% 13.31% 13.52% 13.70% 13.87%
08-Sep-2010 08-Sep-2010 08-Sep-2010 30-Jul-2010 17-Sep-2010 17-Sep-2010 17-Sep-2010 17-Sep-2010 17-Sep-2010 17-Sep-2010 17-Sep-2010 17-Sep-2010 17-Sep-2010 17-Sep-2010 17-Sep-2010
Commodities *Crude Oil (brent)$/bbl 78.66 *Crude Oil (WTI)$/bbl 74.54 *Cotton $/lb 97.17 *Gold $/ozs 1,280.10 *Silver $/ozs 20.81 Malaysian Palm $ 843.10 GOLD (NCEL) PKR 35,350 KHI Cotton 40Kg PKR 7,341 *Last Updated 20:00 PST Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)
Australian $ 79.40 Canadian $ 82.70 Danish Krone 14.70 Euro 110.40 Hong Kong $ 10.60 Japanese Yen 0.992 Saudi Riyal 22.57 Singapore $ 63.50 Swedish Korona 11.60 Swiss Franc 83.20 U.A.E Dirham 23.08 UK Pound 133.20 US $ 85.65
80.50 83.70 15.10 111.90 11.10 1.017 22.80 64.20 12.60 84.20 23.25 134.90 85.95
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
80.65 83.58 15.07 112.24 11.03 1.004 22.84 64.10 12.18 84.22 23.32 134.01 85.67
80.84 83.77 15.10 112.51 11.05 1.007 22.89 64.25 12.21 84.42 23.37 134.32 85.85
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
33°C 33°C 36°C 34°C 31°C 34°C
MIN
20°C 27°C 23°C 21°C 8°C 21°C
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LONDON: MQM a
TAPI Project
Pakistan to ink framework pact ISLAMABAD: Minister for Petroleum and Natural Resources Syed Naveed Qamar will sign the framework agreement of Turkmenistan-AfghanistanPakistan-India (TAPI) gas pipeline project in Ashgabat, Turkmenistan on September 20, 2010 along with the his counterpart ministers. TAPI gas pipeline project is being planned to bring natural gas from Turkmenistan through Afghanistan to Pakistan and India. The heads of states of Turkmenistan, Afghanistan and Pakistan signed Inter Governmental Agreement (IGA) for joint oil and gas pipeline projects between the three countries in 2002.
India joined the project in 2008 and a revised GPFA was initiated for the induction of India, thus changing the project from TAP to TAPI. The ADB sponsored prefeasibility study, conducted in 2004, indicated that the 1680-km pipeline project was economically and financially viable and estimated cost was $3.3 billion -revised to $7.6 billion in 2008. After the signing of GPFA in Ashgabat next week, the parties are planning to convene rigorous rounds of negotiations so as to finalise the Gas Sales Purchase Agreement during a proposed TAPI summit in Ashgabat. APP
SBP Report for 4Q FY10
E-transactions up at Rs4.8tn Staff Reporter KARACHI: Electronic payments continued to show a rising trend as both the number and value of such transactions increased in the fourth quarter (April-June) of the last 200910 fiscal year (FY10). According to State Bank's fourth Quarterly Report on 'Retail E-Payments and Paper Based Instruments' released Friday, the volume and value of e-Payments transactions in the country reached to 53.4 million and Rs4.8 trillion respectively showing an increase of 6.2 per cent in number and 7.7 per cent increase in value. During the fourth quarter of FY10, the volume and value of ATM transactions in the coun-
try reached to 31.1 million and Rs250.3 billion respectively showing an increase of 5.9 per cent in number and 7.6 per cent in value as compared to 7.9 per cent increase in number and 10.4 per cent increase in value in the previous quarter. Whereas, the volume and value of real time online banking transactions in the country reached to 17.4 million and Rs4.5 trillion respectively showing an increase of 8.9 per cent in numbers and 7.9 per cent increase in value. According to the report, the total number of Automated Teller Machines during the fourth quarter reached to 4,465 registering a growth of 2.1 per cent. The volume and value of See # 14 Page 11
Net foreign investment drops 34pc
Jul-Aug FDI falls by half Staff Reporter KARACHI: Net foreign investment in Pakistan fell 34.1 per cent to $267 million in the first two months of the fiscal year 2010-11, compared with $405.4 million in the same period last year, the central bank said on Friday. Out of the total foreign investment, Foreign Direct Investment (FDI) fell 50.2 per cent in July and August to $171.4 million, from $344.5 million in the same period last year. There was a net inflow of
$95.6 million in the first two months of the 2010-11 fiscal year compared with a net inflow of $60.9 million in the same period last year. An International Monetary Fund (IMF) emergency loan package agreed in November 2008 helped Pakistan avert a balance of payments crisis and shore up reserves. It received the fifth tranche of $1.13 billion of the IMF loan of $11 billion in May and Pakistan and IMF authorities are going to meet in November to discuss the release of the sixth tranche.
Corps Commander Meet
COAS salutes Army's relief work RAWALPINDI: 133rd Corps Commanders' Conference was held at General Headquarters on Friday. The Chief of Army Staff (COAS), General Ashfaq Parvez Kayani chaired the meeting. The conference was a part of regular monthly meetings. The participants were briefed about the floods and security situation. The forum expressed satisfaction over operational readiness of the Army. Addressing the conference, General Ashfaq Parvez Kayani highly lauded the role of Pakistan Army in rescue and relief operations in the flood affected areas. He said the troops deployed in the flood areas saved thousands of lives, and many more stranded people were evacuated to safer places. The COAS said Army See # 12 Page 11
Nonpayment dues
PSO suspends supply to Hubco, Kepco ISLAMABAD: Pakistan State Oil (PSO) has suspended the supply of furnace oil to Hubco and Kepco due to nonpayment of outstanding dues by them. According to PSO authorities, it has to recover outstanding dues over Rs48 billion from Wapda, Rs59 billion from Hubco, Rs27 billion from Kepco, Rs606 million from PIA, Rs348 million from OGDCL, and while it has to pay Rs37 billion to Parco, Rs13 billion to PRL, Rs9 billion to NRL, Rs24 billion to Bosikar and Rs669 million to others. Due to nonpayment of outstanding dues from these institutions PSO is also not making timely payment to suppliers See # 13 Page 11
Plea filed in SC for army's help ISLAMABAD: A petition has been filed in the Supreme Court of Pakistan on Friday, seeking Pakistan Army's help in implementing the judicial orders of the apex court. Defence Ministry, senior officials of the army, chief ministers of all provinces and Election Commission were made party in the petition. Former assistant advocate general of the Musharraf regime, Afshan Ghazanfar, had filed the petition. -Agencies
KARACHI/LONDON: Muttahida Qaumi Movement (MQM) Friday announced 10day mourning period to condemn the killing of its leader Dr Imran Farooq, who was murdered on Thursday in London. Imran Farooq's murder shocked MQM deeply as he (Imran Farooq) was among the founding leaders of the party and was close to its chief Altaf Hussein albeit he was living in reclusion in London with no interference in the party affairs. MQM leader Altaf Hussain expressing his deep condolence over the killing of Imran Farooq said this is the saddest incident of his life and dubbed Farooq as
Farooq’s wife not under arrest, says Wajid Hassan ISLAMABAD/LONDON: Pakistani High Commissioner in UK Wajid Shamsul Hassan has said reports of arrest of MQM slain leader Imran Farooq’s wife are not true however the police have provided her security cover in view of possible threat to her life. He was talking to a private TV channel on Friday. He said police have taken the CCTV footage in custody and is investigating issue. The preliminary examination of the case will take 24 to 36 hours he observed. -Online "Shaheed-e-Inqelab." He wished that the murderers of Dr Imran Farooq should be brought to justice as soon as possible. He said he would never forget this grief and he has lost one of his great comrades. Dr Farooq Sattar said the death of Imran Farooq was a
Courts verdicts ain’t jokes: CJP ISLAMABAD: Chief Justice of Pakistan (CJP) Iftikhar Muhammad Chaudhry said judicial verdicts are being ridiculed and the complaints on non-implementation of Supreme Court (SC) decisions are on the rise, added that courts verdicts are not jokes. CJP gave these remarks during the course of hearing of promotion case of top bureaucracy Friday. Secretary Establishment Division and others have been made respondents in this case. I N Abbasi an officer of grade-22 of Information Group had filed contempt of court plea and notices had been issued on this plea.
He took the plea in his application that the decision pronounced by SC in respect of promotion of top bureaucracy had not been implemented and notification regarding their appointments had been cancelled from April, 28, 2010 instead of September 4, 2009 which was against the spirit of SC verdict. Reply was sought from Secretary Establishment Division in this regard and the court reprimanded him severely on this count. CJP in his remarks complaints about non implementation of SC verdicts were growing day by day. "Court See # 7 Page 11
Govt committed to provide wheat seed: Gondal
Wheat stocks seen sufficient ISLAMABAD: Federal Minister for Food & Agriculture, Nazar Mohammad Gondal while expressing his satisfaction over the wheat stocks in the country said that government is committed to provide wheat seeds for the upcoming sowing season. According to statement issued here Friday, Federal Minister said government is bound to provide wheat seed for the upcoming sowing season. He said it while chairing the
Flood Mitigation 2010 meeting that was attended by representatives from the provinces including AJK and GilgitBaltistan. "It is the primary duty of the government to make the availability of wheat seed possible and give incentives for the flood-affected areas so that the farmers are empowered to grow the seasonal crops on time. We have enough stocks of wheat to fulfill our local requirements and provide seed See # 10 Page 11
House supports relief efforts for Pak affected
US lawmakers show solidarity WASHINGTON: The US House of Representatives approved a resolution on Thursday expressing solidarity with Pakistan following deadly floods that have devastated the Asian nation. House recognised that an effective and accountable government in Pakistan is essen-
tial for the country's long-term recovery and stability. The resolution said the House "expresses its deepest condolences and sympathy to the families of the victims of the floods, and its solidarity with the millions of affected Pakistanis." See # 11 Page 11
great loss for the party and the MQM activists. He announced 10-day mourning on behalf of the MQM Rabita Committee. During the mourning period, MQM activities throughout the world will remain suspended. Rabita Committee, he said, also condoled with the See # 19 Page 11
Holbrooke urged to help Pak seal FTA ISLAMABAD: The Pakistan Muslim League-Nawaz (PMLN) Friday urged US Special Representative for Afghanistan and Pakistan Richard Holbrooke to support Pakistan's efforts in finalisation of a Free Trade Agreement (FTA) with the United States. In a meeting with Holbrooke, PML-N leader also urged the visitor to encourage greater American investment in Pakistan, especially in its energy and power sectors, saying that it would have a direct bearing on the country's economy as well as on the people's welfare. Sharif pointed out that aid packages were at the best only stopgap arrangements that have no lasting impact on the country's economy. On the other hand, the greater trade and foreign investment helps in strengthening the country's See # 8 Page 11
WFP urges donors for more aid ROME: The United Nations World Food Programme (WFP) Friday urged donors to provide additional financial support to meet urgent needs and help build the bridge between emergency food assistance and long-term recovery in Pakistan. "No-one could have predicted the scale and enormity of this catastrophe where women and children are facing a dangerous downwards spiral of hunger and malnutrition," said WFP Executive Director, Josette Sheeran. "We need to scale-up now and we need to scale-up quickly." WFP has been streaming emergency humanitarian assistance into Pakistan since the beginning of August and has so far received $103 million towards the $600 million budget required to fund an See # 9 Page 11
2
Saturaday, September 18, 2010
Sales Tax refund issues weigh on textile sector Jamil Siddiqui KARACHI: Sales tax (ST) refunds worth billions of rupees are stuck due to bureaucratic delays and wrangling from the Regional Tax Office (RTO) causing huge losses to value added textile sector, it has been learnt. Federal Board of Revenue (FBR) is financially driving the value added textile sector to bankruptcy as now they are barely managing to carry out their normal business in the absence of running capital.
Traders condemn Dr Imran murder Staff Correspondent KARACHI: Chairman All Karachi Tajir Ittehad (AKTA) Atiq Mir, has severely condemned the gruesome murder of the convener of MQM Dr Imran Farooq in London and announced full observation of the mourning announced by MQM on Monday and complete closure of markets. Atiq Mir urged the responsible leadership of MQM to have close coordination with AKTA to thwart any untoward incident attempted by the miscreants and to make the mourning peaceful. Meanwhile, Chairman Mohammed Kashif Sabrani & Joint Secretary Karachi Tajir Association (KTA) Mohammed Fayyaz Tyfon in his separate statement issued to The Financial Daily also condemning the murder and offered full solidarity in the movement of grief with MQM.
Computing future is rich: Intel Director KARACHI: The future of computing lies in rich, context-driven user experiences, Intel Vice President, Director of Intel Labs and Intel Chief Technology Officer and Senior Fellow Justin Rattner told his keynote audience at the Intel Developer Forum in San Francisco. Rattner described how context awareness is poised to fundamentally change the nature of how we interact with and relate to information devices and the services they provide. With computing devices having increased processing power, improved connectivity and innovative sensing capabilities, Intel researchers are focused on delivering new "context-aware" user experiences.-PR
Due to the most difficult times with high cost of doing business and worst law and order situation and toughest competition with neighboring countries the textile exporters are facing severe liquidity crunch as the RTO is holding back the sales tax refunds claims of the genuine textile exporters despite various representation they are falling into the deaf ears and no respite in site, sources have said. Meanwhile in a SOS sent by Pakistan Apparel Forum (PAF ) to the
Prime Minister syed Yousuf Raza Gilani and Federal Minister of Finance and Revenue, Economic Affairs and Statistics, Dr Abdul Hafeez Shaikh, textile group Chairman M Jawed Bilwani has urged to issue urgent instructions to the FBR and RTO to release on Top Priority all the held up sales tax refunds claims to the value added textile exporters with the aim to relieve them and enable them to run their factories and production which has come to standstill and endeavor to get
valuable foreign exchange sorely needed for the beleaguered nation in these most difficult times. He demanded that in the oncoming Value Added Tax Regime the Zero Rating of Sales Tax should be continued for the entire Textile Industry. He also sent copies of his appeal to the Chairman FBR Sohail Ahmed, Member (Income Tax) FBR and Imtiaz Ahmed Barakzai, Chief Commissioner, RTO Karachi for compassionate action.
Tariq Kirmani Nadra ensures KATI demands 2pc takes charge transparency in cut in discount rate of UBLFMs relief allocation Staff Correspondent
KARACHI: The Board of Directors of UBL Fund Managers (UBLFMs) announced the appointment of Tariq Kirmani as the new Chairman of the Board, said an announcement made here on Friday. In announcing the
best corporate governance and professional standards in the industry." Tariq Kirmani has served in senior positions of multinational companies. His last appointment was as Chairman of Pakistan International Airline
KARACHI: Tariq Kirmani Chairman UBLFMs along with UBL Fund Managers Chief Executive, Mir Muhammad Ali, CFA, during his visit to the UBL Funds Corporate Office.-PR
appointment, Atif R Bokhari, President of United Bank Limited (UBL) said, "I welcome Tariq Kirmani as the new independent Chairman of the UBL Fund Managers Board of Directors and am confident that under his chairmanship, UBL Funds will continue to sustain and further strengthen its leadership position as the first-choice investment solution provider with the
(PIA), prior to that he was Managing Director of Pakistan State Oil (PSO). He joined the UBL Funds Board as an Independent Director in May this year. He currently also serves as Director on the Board of National Bank of Pakistan (NBP), Asia Care Health and Life Insurance Company, Marie Adelaide Leprosy Centre (MALC) and Pakistan Sports Trust, amongst others.-PR
KARACHI: Transparent and impartial distribution of funds to flood affected citizens through Watan cards is being ensured without compromising on National Security, relaxation in rules might give way to unwanted elements' entry into national database; this was stated by Tariq Malik Deputy Chairman Nadra in a statement issued today. He said that NADRA is striving on zero error policy to ensure that only deserving families are issued Watan cards enabling them to draw benefits announced by the Govt, any leniency in the policy due to political or social pressures will jeopardize transparency in the system at a time when the whole world is eagerly looking at the govt's efforts of relief and rehabilitation of flood victims. Tariq said that NADRA will ensure issuance of CNICs to those who lost their CNICs during evacuation due to floods but
USAID patronises career grooming KARACHI: US Agency for International Development (USAID) and four Karachi-based education and training institutions signed completion certificates for four Career Development Centers renovated with support from the United States, in a ceremony held here recently. Rehabilitation and renovation work was made possible through an innovative partnership of USAIDfunded programs - the Community Rehabilitation Infrastructure Support Program and the Pakistan JOBS Project. The Institute
of Cost and Management Accountants Pakistan, Pakistan Readymade Garment Technical Training Institute, Pakistan Swedish Institute of Technology, and Greenwich University, also participated in the event. "Our activities in Karachi are a true win-win situation for everyone involved," said Erika Hoffman-Kiess of the Pakistan JOBS Project, who joined representatives of the local institutions in marking the end of USAID-funded renovation work at their respective facilities. "Two USAIDfunded projects were able
to come together to benefit many institutions, students, and communities, all of whom will reap the rewards of improved preparation for and access to the work place." Officials from participating institutions said they are happy the renovation stage of the process has come to a close, adding that the centers will serve as a focal point for bringing together the needs of industry for suitably trained and qualified employees, with the expectations of students for meaningful and remunerative employment.
TV PROGRAMMES SATURDAY Time Programmes 7:00 News 8:00 News 9:05 Best of Subah Savere 11:05 Mohaaz (F) 12:00 News 13:10 Newsbeat (Rpt) 14:05 Awam Ki Awaz 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Taxi News 20:03 The Anchor 21:00 News 22:05 Manzil 23:05 Faisla Aap Ka
KARACHI: Iranian Counsel in Karachi Abbas Ali Abdollahi handing over a cheque worth Rs.5 lakh to Sindh Chief Minister Syed Qaim Ali Shah on his own behall as donation for the flood affestes ar CM House.-APP
KARACHI: A view of city's busiest commercial center Tariq Road where, on 1st day of 10 day mourning being observed by MQM after the assassination of its convener Rabita Committee Dr Imran Farooq at London on Thursday, all shops are closed while traffic is off the road. -Photo by Jamil Siddiqui
will not entertain change of address requests as it may qualify a non deserving person for PKR 20,000 benefit. Similarly by relaxing rules and checks for fresh applicants may lead to registration of wanted aliens. "It's a national security issue" said Tariq Malik. However we have requested DCOs, EDOs and local officials to remain available in relief camps to attest particulars of fresh applicants. Reacting on criticism on Nadra by certain circles he said that NADRA would not bow down to any pressure which could compromise national security. He requested the political parties and social groups to understand the sensitivity of the issue and do not try to pressurize NADRA to entertain the non-deserving people so that NADRA can maintain its reputation of being a responsible organisation working transparently to serve the citizens of Pakistan.-PR
KESC chief visits Thatta aid camp THATTA: In order to take a firsthand look at ongoing relief work, KESC CEO, Tabish Gauhar visited the Care Camp set up by KESC in Thatta. The purpose of the visit was to review the relief work as well as raise the spirits of the flood survivors and lend encouragement to the KESC employees who are running the KESC relief camps set up in Thatta and adjacent areas. Tabish Gauhar met the people living in the camp city, shared Eid greetings and inquired about the relief services being provided to them. He also issued instructions for improvement in maintenance of the tents and ensuring continuous supply of clean drinking water to prevent diseases. KESC has made special arrangements to provide shelter, food, medical care, electricity and purified water supply to IDPs in Thatta and adjacent towns of Sajjawal, Sunda, Challian and four camps in Karachi. KESC is running one of the biggest corporate flood relief operations in the country, to provide relief to about 30,000 IDPs. So far, KESC has provided 3,000 tents, 40 trucks of food packages, 7 trucks of daily usage items like mosquito nets, floor mats and utensils, 2 water purification plants and free medical treatment to thousands of affected persons.-PR
KARACHI: Korangi Association of trade and industry (KATI) has demanded from the State Bank of Pakistan (SBP) to reduce at least 200 basis points in bank rate in the forthcoming Monetary Policy. "The Governor SBP should reduce two per cent interest rate in the forthcoming Monetary Policy and then gradually bring it to single digit so that economy would be able to sustain and industry could breathe", KATI demanded. In a joint statement given to The Financial Daily, the Patron In-Chief, KATI S M Muneer,
Chairman, Razzak Hashim Paracha, Vice Chairmen, Njamul Arfeen and Amjadullah Khan, former Chairmen, Mian Zahid Husain, Masood Naqi, Farhanur Rehman, Zubair Chhaya and Senator, Abdul Haseeb Khan while welcoming the appointment of Shahid Hafeez Kardar as Governor State Bank, said that he has a tough tasks ahead of him as the country is facing its most crucial phase and the economy is in shambles. They said that the newly appointed Governor SBP would have to take stringent measures to maintain monetary policy and contain government borrowing. Paracha said and hoped
Baig lauds FM efforts for EU concessions KARACHI: Dr Mirza Ikhtiar Baig, Federal Advisor on Textiles, in a meeting with Foreign Minister, Shah Mehmood Qureshi in Karachi thanked him for his efforts to get EU tariff concessions on Import of Textile Products from Pakistan to support our Economy, said a handout issued here. Dr Baig also thanked President Asif Ali Zardari, Prime Minister Yousuf Raza
Gilani, Minister & Secretary Commerce for their tireless efforts to pursue this matter with EU Federal Advisor on Textile was taking up this matter with E.U. for the last two an half years to allow duty free market access to Pakistani Textile Products and called it a major victory for Pakistan. Foreign Minister advised Dr Baig that there is no export limit fixed by EUC as reported in some sections of press.-PR
Site association members elected unopposed Staff Correspondent KARACHI: Six candidates who filed nominations for the six seats on the Executive Committee (EC) of Site Association of Industry fallen vacant this year by turn were declared victorious unopposed. According to the hand out of the association given to The Financial Daily, Abdul Wahab Lakhani, Asad Nisar Burkhurdaria, Junaid M Siddiq, Aslam Sadruddin, Mohammad Irfan Moton
& Faraz Parvez were elected as members of Executive Committee of Site Association of Industry Due to no other nomination received therefore all the six candidates were unofficially declared elected unopposed after scrutiny by Election Commission head by M Tariq Yousuf. Hence due to the completion of the election process there will be no election on 27 Sept as scheduled earlier.
that Shahid Kardar would strive hard use all his capabilities to set realistic targets and try to achieve them." They said that trade and industry could in no way bear any further tax or levies or increase in utilities as they already become out of proportion. They agreed with all renowned economic experts that due to massive floods and loss of huge crops, the country would have to face a severe shortage of commodities and government would have to contain not only its lavish expenditures and unstoppable borrowing. He said that SBP should act as an active watchdog in this regard.
Field hospital leaves for Sehwan KARACHI: A multi purpose field hospital, prepared by Omair Sana Foundation (OSF) left Karachi press club premises for flood hit Sehwan. The hospital is supposed to provide basic medical facilities to the affectees of flood. The OSF officials said that the hospital will be a specifically focused on health management system under disaster situation. The field hospital consists of a minor OT, an OPD clinic, a Pharmacy & other basic medical facility. The hospital will facilitate about 400 hundred thousand people. Dr Saqib Hussain Ansari, General Secretary of OSF, Dr Tahir Sultan Shamsi Vice President of OSF & others staff member included Dr Zeeshan Hussain Ansari, Dr Rahat Hussain, Dr Saif-ur-Rehman, Akhlaq-ud-din , Obaid Hashmi, Jahangir Ghazal & Asghar Hussain gave details of the hospital in a press conference here. Dr Saqib Hussain Ansari and Dr Tahir Shamsi said that Omair Sana Foundation is basically working on the prevention and eradication of Thalaesemmia, a badly blood disorder.-PR
KARACHI: A rush of people seen on the pump which is cordoned off by tents in Liaquatabad on the mourning day of late MQM leader Dr Imran Farooq.-APP
3 Saturday, September 18, 2010
Dollar up vs euro, yen on data, intervention threat
Swiss franc eases on dovish SNB
Australian dollar hits two-year high vs greenback NEW YORK: The dollar rallied against the euro and the yen on Friday as poor US consumer sentiment data eased risk appetite against the backdrop of possible currency intervention by the Bank of Japan. The euro vacillated in a range of more than a cent against the dollar on the final trading day of the week amid fears about the Irish banking sector. An Irish Finance Ministry spokesman said there was no truth to rumours Ireland would need help to deal with its finances. After Japan intervened in the market to sell yen for the first time in six years on Wednesday, traders said caution about further intervention lent support to the dollar if it fell near 85.00 yen. Analysts said yen price action in a day
of risk aversion gave the Bank of Japan some credibility in the short term regarding its intervention strategy. "I'd expect increased volatility in euro/dollar as there is
the market is going to remain concerned about peripheral European debt issues." The euro moved between gains and losses against the dollar before moving lower as
still a lot of uncertainty about these re-emerging European debt problems," said Matthew Strauss, senior currency strategist at RBC Capital Markets in Toronto. "We'll probably see more of this where there are rumors in the market about specific countries, but even if they're denied, in the bigger picture,
US consumer sentiment unexpectedly worsened in September to its weakest level in more than a year. It last traded down 0.3 per cent at $1.3042 with a session peak of $1.3159 and low of $1.3019. The euro briefly recovered when an International Monetary Fund spokesperson
Asian currencies
Mostly gain on stocks; won capped by govt Peso up 0.3pc on data; some see cbank intervention "Given strong Asian economic fundamentals and growing appetite for assets in the region, Asian currencies are expected to rise more. But I don't think FX authorities in the region will just let them rise, considering their exports," said Jeon Seung-ji, a currency analyst at Samsung Futures Inc. Dealers said foreign exchange authorities bought dollars to prevent the won rising beyond 1,160 per dollar. The currency closed up 0.34 per cent at 1,160.5 from Thursday's domestic close of 1,164.5. It rose as high as 1,159.2 during the day.
"The won is regaining a bullish trend, although the authorities will be a variable," said a foreign bank dealer. The peso rose to 44.25 per dollar, up 0.3 per cent, after data showed net portfolio inflows in August hit a 15month high. The Philippine currency is expected to rise further on a brighter outlook for the economy. The Thai baht rebounded in mid-afternoon trade to around 30.74 per dollar from 30.82 in the morning and 30.77 late on Thursday. The baht has risen 8.5 per cent against the dollar this year. -Reuters
Stg cuts gains vs $, rises against euro
Taiwan dollar surges on Asia optimism
SEOUL: Asian currencies, including the Malaysian ringgit and the South Korean won, rose on Friday helped by a rally in stocks globally and broad weakness in the dollar. The Philippine peso found support from strong portfolio inflow data and demand from speculative funds, although some dealers suspected its rally was capped by central bank intervention. Authorities in South Korea were spotted buying dollars to cap the won's strength, feeding into market speculation that Asian policymakers are increasingly concerned about export competitiveness.
LONDON: Sterling cut gains against the dollar on Friday, coming off an earlier five-week high as renewed euro-zone sovereign banking sector concerns put riskier currencies and equities back under pressure. As worries about peripheral euro-zone countries resurfaced, the euro turned lower against the dollar, prompting other
age levels, including its 200day moving average currently at $1.5376 and the 50-day moving average at $1.5520. The euro was down 0.4 per cent at 83.32 pence, pulling away from the 83.60 pence level, where traders reported an options expiry, and dipping below its 100-day moving average at 83.50 pence.
riskier currencies, including sterling, to follow suit, and pushing equities off their highs. The euro fell below a sevenweek high against the pound hit on Thursday just above 84.00 pence. By 1434 GMT, sterling was at $1.5628, up 0.1 per cent on the day but well below an earlier 5-week high of $1.5730 when the dollar fell broadly and traders reported sterling/dollar demand from Asian sovereigns and a US bank. Technically, sterling was well supported against the dollar, staying above a number of closely watched moving aver-
Sterling recovered against the euro after falls on Thursday following weak UK retail sales data, with traders saying the single currency's failure to make a sustained break above 84.00 pence encouraged sterling buying. Figures on Thursday showed an unexpected 0.5 per cent fall in UK retail sales during August. Analysts said a 16.5 per cent jump in weekly department store sales at John Lewis -- seen as a bellwether for UK consumer spending -- reported on Friday, helped offset this. -Reuters
TAIPEI: The Taiwan dollar hit a more than four-month closing high on Friday on broad optimism about Asia's economic future, following solid signals from China, India and Singapore. The Taiwan dollar ended T$31.739 to the US currency, the strongest final price since May 10 and compared with Thursday's close of T$31.8. Risk appetite grew as China raised its yuan mid-point 1 per cent since Sept. 9 under US pressure for Beijing to revalue the currency. Investors were also encouraged by as Singapore export data beat expectations, and after India raised rates more aggressively than expected. Taiwan's currency will track gains in the yuan as a proxy for the non-convertible Chinese unit because of the island's strong trade ties with China. Upbeat economic data or earnings from the United States, Taiwan's No.2 export market, would support the local currency as investors favour growth-linked assets. Signs of weakness in the US economy could pressure the local forex market. -Reuters
Aussie heading for 4th week of gains, NZ$ bounces SYDNEY/WELLINGTON: The Australian and New Zealand dollars rose sharply on Friday as steady buying by a US bank, gains in Asian share markets and a record high for gold all helped whet the appetite for risk. The Aussie climbed to $0.9450, from and early $0.9351 and tantalisingly close to two-year highs of $0.9457. It was now up 1.7 per cent for the week, the fourth straight week of gains and not far from the 2008 peak around $0.9851. Traders said there was no particular news behind the move but did report aggressive buying by one well-known US bank along with Japanese demand against the yen. The latter helped lift the Aussie to a four-month top of 80.89 yen, a gain of 2.6 per cent for the week so far. There was also talk of a huge binary option with a strike at $0.9475 that was giving someone an incentive to try and trip it. The NZ dollar bounced back to $0.7301, having ranged
between $0.7239 and $0.7308, after Thursday's retreat from $0.7335, as Asian stock markets climbed up. The kiwi took a spill Thursday after the central bank issued a downbeat outlook for the economy with reduced growth and rate forecasts. The bank is seen holding rates at least until March next year according to a new Reuters poll. Support for the kiwi was seen around $0.7200, with resistance at Wednesday's high of $0.7357. Markets see 67 basis points of tightening over the next 12 months from 69 on Wednesday and compared with 79 basis points in late July. . In contrast, a run of mostly upbeat Australian data has led the market to revise up sharply the chance of further rate hikes form the Reserve Bank of Australia in coming months. The Aussie's relative yield advantage helps it jump to five-month highs on the kiwi at NZ$1.2960, before steadying at NZ$1.2938. Reuters
said the IMF did not think financial assistance would be needed for Ireland. Against the yen, the euro fell 0.1 per cent on the day at 111.97 yen, down from a fiveweek high struck earlier. The euro fell 0.8 per cent against the Swiss franc to 1.3177 francs a day after the Swiss central bank predicted a big economic slowdown as franc strength hits growth. The dollar rose 0.1 per cent against the yen to 85.85 yen, within striking distance of a one-month high against the yen as the threat of further Japanese intervention kept the yen pressured. Elsewhere, the Australian dollar hit a two-year high, boosted by rising gold prices and risk appetite. The dollar index plumbed a five-week low. -Reuters
ZURICH: The Swiss franc eased further on Friday following a sharp drop in the previous session when the Swiss National Bank surprised with a sceptical growth outlook, indicating unchanged interest rates for quite a while. Traders saw further near-term losses for the Swissie though analysts said Switzerland's strong economy and investor's concerns about the health of the global economy were still supporting the franc as a safe haven currency. The franc fell 0.3 per cent against the euro compared to the New York close, trading at 1.3316 per euro at 0635 GMT. The franc had dropped nearly 2 per cent on Thursday, after the SNB's dovish statement. The franc was slightly firmer against the dollar at 1.0145 per dollar. The next level to break was 1.3370, opening the way to a euro rise to 1.3580, he said. "The support should be now around 1.3220." -Reuters
Yuan at post-reval high as outlook firms SHANGHAI: Spot yuan closed at a post-revaluation high against the dollar on Friday boosted by a buying spree late in the day following raised market forecasts of how much the yuan can climb in coming months. The market's anticipation of more appreciation comes after the People's Bank of China's (PBOC) fixed another record mid-point before trading began earlier on Friday. The yuan closed at 6.7235 to the dollar, rising 1.05 per cent in seven trading days -- its biggest seven-day gain since January 2008 and the third biggest since the Chinese currency's landmark July 2005 revaluation. Traders said they expected the yuan's upward trek to power ahead and it had the potential to rise another 2 per cent to 6.6 per dollar or stronger in the coming three months due mainly to US and global political pressures. Meanwhile, the yuan's nominal effective exchange rate (NEER), or its value against a trade-weighted basket, depreci-
ated 1.38 per cent in August after a fall of 1.45 per cent in July, according to the latest data published by the Bank for International Settlement late on Thursday. Before trading started on Friday, the People's Bank of China fixed the yuan's daily mid-point versus the dollar at 6.7172, up from Thursday's 6.7181 and extending a string of record high reference rates in a row. At the close, the yuan was up 1.53 per cent since the PBOC abolished its peg to the dollar on June 19. Offshore, dollar/yuan nondeliverable forwards also fell late in the session to imply more yuan appreciation, with threemonth NDFs hitting record lows for the second day. Three-month NDFs were bid at 6.6980 in the late afternoon, erasing the previous record low of 6.7002 on Thursday, with their implied three-month yuan appreciation rising to 0.29 per cent from 0.27 per cent. -Reuters
Previous Day Source
Events
NZD EUR EUR EUR USD USD USD
Westpac Consumer Sentiment German PPI m/m Buba President Weber Speaks Current Account Core CPI m/m CPI m/m Prelim UoM Consumer Sentiment
Actual
Forecast
114.1 0.0%
0.3%
Previous
119.3 0.5%
-3.8B 0.0% 0.3% 66.6
-3.7B 0.1% 0.2% 70.2
-3.8B 0.1% 0.3% 68.9
Currency Rates Name EUR-USD EUR-GBP EUR-CHF EUR-JPY USD-CHF USD-CAD GBP-USD GBP-JPY AUD-USD EUR-CAD CHF-JPY Gold Silver
As per 22.00 PST Ask 1.3049 0.8341 1.3179 111.95 1.0104 1.0316 1.5643 134.24 0.9380 1.3455 84.98 1276.38 20.83
Bid 1.3047 0.8338 1.3175 111.93 1.0100 1.0312 1.5628 134.2 0.9376 1.3452 84.92 1275.63 20.80
High 1.3159 0.8378 1.3388 112.97 1.0180 1.0346 1.5729 135.04 0.9468 1.3504 85.05 1281.93 20.01
Low 1.3024 0.8331 1.3144 111.61 1.0072 1.0219 1.5598 133.71 0.9354 1.3392 84.22 1271.73 20.65
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 17/09/2010 A USD GBP CAD EUR JPY O/N 0.22788 0.54875 1.05000 0.39313 SN 0.10500 1WK 0.25150 0.55078 1.06000 0.45625 0.11875 2WK 0.25181 0.55563 1.08667 0.50938 0.12750 1MO 0.25750 0.57000 1.10750 0.57531 0.14375 2MO 0.27438 0.62406 1.17167 0.67250 0.17625 3MO 0.29156 0.72969 1.23500 0.82875 0.22313 4MO 0.34625 0.81734 1.29167 0.91750 0.31125 5MO 0.41297 0.92359 1.34583 1.01188 0.36750 6MO 0.47313 1.02813 1.41667 1.11500 0.42750 7MO 0.52750 1.10469 1.48750 1.16375 0.48438 8MO 0.57750 1.18219 1.56500 1.21438 0.53125 9MO 0.62531 1.26219 1.64167 1.26563 0.58063 10MO 0.67775 1.33688 1.72833 1.31125 0.60875 11MO 0.73188 1.40563 1.82333 1.35688 0.63563 12MO 0.79363 1.46969 1.91500 1.40313 0.66250
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Oct 19 2010 Oct 07 2010 Oct 07 2010 Sep 21 2010 Dec 16 2010 n/a n/a
Sep 08 2010 Mar 05 2009 May 07 2009 Dec 16 2008 Mar 12 2009 May 04 2010 Dec 19 2008
Bank of Canada Bank of England European Central Bank Federal Reserve Swiss National Bank The Reserve Bank of Australia Bank of Japan
Current Interest Rate 1% 0.50% 1% 0.25% 0.25% 4.50% 0.10%
Division of National Bank of Pakistan (NBP) KARACHI, September 17,2010 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries
Selling TT & OD
Buying TT Clean
Buying OD/T.CHQ
85.85 134.32 112.51 83.77 84.42 80.84 12.21 1.00 14.10 64.25 15.11 22.89 11.05 12.76 299.08 27.62 62.52 23.59 23.37 0.07 2.78
85.65 134.01 112.24 83.58 84.22 80.65 12.18 1.00 14.07 64.10 15.07 22.84 11.03 12.73 298.38 27.55 62.38 23.53 23.32 0.07 2.78
85.47 133.70 111.99 83.36 84.00 80.44 12.15 1.00 14.03 63.94 15.03 22.78 11.00 12.70 297.60 27.48 62.21 23.47 23.26 0.07 2.77
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
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for September 17, 2010
Indian rupee climbs; more gains seen MUMBAI: The Indian rupee scaled its highest level in nearly three months on Friday boosted by gains in the domestic share-market which raised hopes for more capital inflows, a day after the central bank raised key interest rates. The partially convertible rupee closed at 45.8350/8450 per dollar, after touching 45.81, its highest since June 21 and 0.7 per cent above its 46.14/15 close on Thursday. This is the rupee's biggest single-day gain since July 27. On the week the unit strengthened 1.4 per cent, its biggest weekly gain in three months. So far in 2010, foreign funds have bought shares worth $15.4 billion, adding to last year's record $17.5 billion purchases. One-month offshore non-
deliverable forward contracts were quoted at 45.97, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange and MCX-SX closed at 45.9125 and 45.91 respectively, with the total traded volume on the two exchanges at about $7.4 billion. -Reuters
CMKA 0-7days 12.18 8-15dys 12.30 16-30dys 12.35 31-60dys 12.40 61-90dys 12.55 91-120dys 12.65 121-180dys 12.75 181-270dys 12.85 271-365dys 12.90 2-- years 13.10 3-- years 13.10 4-- years 13.16 5-- years 13.20 6-- years 13.20 7-- years 13.25 8-- years 13.25 9-- years 13.25 10--years 13.25 15--years 13.50 20--years 13.70 30--years 13.85
BMA 12.15 12.20 12.25 12.45 12.55 12.62 12.80 12.90 12.91 13.10 13.15 13.20 13.25 13.28 13.35 13.40 13.35 13.35 13.60 13.75 14.00
INVSR 12.10 12.20 12.25 12.40 12.55 12.60 12.75 12.80 12.92 13.08 13.14 13.20 13.25 13.25 13.28 13.28 13.32 13.32 13.55 13.70 13.80
GSL 12.10 12.20 12.30 12.45 12.61 12.75 12.80 12.84 12.88 13.06 13.12 13.13 13.14 13.16 13.18 13.20 13.24 13.30 13.50 13.70 14.00
ICSL 12.10 12.20 12.30 12.45 12.56 12.65 12.72 12.80 12.85 13.05 13.10 13.15 13.18 13.20 13.22 13.22 13.25 13.30 13.40 13.65 13.75
JSCM AvgRate 11.90 12.09 12.10 12.20 12.30 12.29 12.40 12.43 12.50 12.55 12.65 12.65 12.74 12.76 12.80 12.83 12.92 12.90 13.10 13.08 13.15 13.13 13.25 13.18 13.28 13.22 13.28 13.23 13.30 13.26 13.30 13.28 13.32 13.29 13.32 13.31 13.55 13.52 13.70 13.70 13.80 13.87
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
0.96 0.53 0.65 0.85 0.50 0.39
0.57 0.28 0.27 0.36 0.86 0.56
0.96 0.78 0.37 0.67 0.86 0.39
0.85 0.68 0.40 0.75 0.94 0.77
0.92 0.26 0.88 0.61 0.89 0.69
0.80 0.49 0.70 0.59 0.61 0.41
USD/CAD USD/CHF -0.92 -0.61 -0.29 -0.70 0.34 -0.28
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)17/09/2010 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
ABPL 11.90
12.40
11.90
12.40
12.10
12.60
12.45
12.70
12.50
12.75
12.75
13.25
12.90
13.40
13.25
13.75
ABLN 12.00
12.50
12.00
12.50
12.10
12.60
12.55
12.80
12.70
12.95
12.80
13.30
12.95
13.45
13.00
13.50
JSBL
12.15
12.65
12.25
12.75
12.30
12.80
12.60
12.85
12.70
12.95
12.70
13.20
12.70
13.20
12.90
13.40
ASPK 11.80
12.30
11.95
12.45
12.20
12.70
12.50
12.75
12.60
12.85
12.70
13.20
12.75
13.25
12.90
13.40
CIPK
13.55
12.10
12.60
12.20
12.70
12.25
12.75
12.40
12.65
12.60
12.85
12.70
13.20
12.90
13.40
13.05
DBPK 12.00
12.50
12.10
12.60
12.15
12.65
12.40
12.65
12.60
12.85
12.65
13.15
12.70
13.20
12.80
13.30
FBPK
11.90
12.40
12.00
12.50
12.15
12.65
12.45
12.70
12.55
12.80
12.60
13.10
12.70
13.20
12.95
13.45
FLAH 11.90
12.40
12.15
12.65
12.25
12.75
12.50
12.75
12.65
12.90
12.70
13.20
12.80
13.30
12.95
13.45
HBPK 12.10
12.60
12.20
12.70
12.25
12.75
12.50
12.75
12.65
12.90
12.75
13.25
12.80
13.30
12.95
13.45
HKBP 12.00
12.50
12.00
12.50
12.20
12.70
12.50
12.75
12.65
12.90
12.65
13.15
12.75
13.25
12.90
13.40
NIPK
12.00
12.50
12.15
12.65
12.55
13.05
12.80
13.05
12.90
13.15
13.00
13.50
13.10
13.60
13.20
13.70
HMBP 12.10
12.60
12.10
12.65
12.40
12.90
12.65
12.90
12.80
13.05
12.80
13.35
12.85
13.35
12.90
13.40
SAMB 11.80
12.30
11.90
12.45
12.25
12.75
12.60
12.85
12.80
13.05
12.80
13.30
12.90
13.40
13.00
13.50
MCBK 12.15
12.65
12.20
12.70
12.25
12.75
12.40
12.65
12.55
12.80
12.60
13.10
12.70
13.20
12.95
13.45
NBPK 12.00
12.50
12.10
12.60
12.15
12.65
12.60
12.85
12.75
13.00
12.80
13.30
12.85
13.35
13.00
13.50
SCPK
12.35
11.85
12.35
12.15
12.65
12.40
12.65
12.55
12.80
12.60
13.10
12.70
13.20
12.90
13.40
11.85
UBPL 12.00
12.50
12.00
12.50
12.20
12.70
12.50
12.75
12.65
12.90
12.70
13.20
12.80
13.30
12.95
13.45
AVE
12.49
12.07
12.57
12.21
12.71
12.50
12.75
12.65
12.90
12.72
13.22
12.80
13.30
12.95
13.45
11.99
-0.93 -0.38 -0.59 -0.57 -0.73 -0.65
4
Saturday, September 18, 2010
Making a Trophy Out of Catastrophe
The Financial Daily International Vol 4, Issue 46
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
Imran Farooq's Assassination, a Big Concern Political killings aren't new to Pakistan but their current frequency and high-profile targets are. Given the circumstances they have become a serious alarm at the moment for such murders, sometimes, are either aimed at spurring a sweeping political change or something even worse. The latest blow dealt to the country is Dr Imran Farooq's assassination --one of founding leader of the Muttahida Qaumi Movement (MQM). He was stabbed to death in London on Thursday evening. He was elected as member national assembly from Karachi in the 1988 general elections. Farooq was also the parliamentary leader of the MQM in the lower house. Later on, in 1992, when Altaf Hussain went into self-imposed exile in the wake of a military crackdown against MQM, Farooq also went underground and ran the party from hiding for seven years before taking political asylum in UK. His is a loss that MQM would never be able to make up for. How the leadership of Pakistan's one of the most integrated parties would react to it and what happens next are the questions of the hour. Hundreds of political workers have been killed over the last 20 years in Karachi. However, none expected that the leadership living in UK could also be exposed to such threats. Political observers say there can be extraordinary repercussions if the attackers are found to have any links with Pakistan. Lately, ANP and MQM have been accusing each other openly for being responsible for killing activist of both sides. Pakistan in general and Karachi in particular has witnessed the deadliest carnages, starting with the assassination of Benazir Bhutto and the latest in the aftermath of MQM and ANP local leaders' killings. The modus operandi has been almost the same starting with killing of a leader, followed by strikes and mourning calls bringing all sort of economic activities to a grinding halt. The killing of leaders is only aimed at pushing the country into absolute anarchy and ultimate destabilisation. Ironically, over the years the role of law enforcing agencies has been no more than paperwork. After every incidence, while promising to deal culprits an iron blow, they only blow smoke and wait for their next such cue to deliver the same "promising" dialogues. They also need reformation followed by restructuring with injections of honesty-based professional integrity. At first the MQM leadership, showing prudence, kept Dr Imran Farooq's murder news only to themselves as long as they could for tens of thousands of activists and people at large were assembling in different parts of Karachi, Hyderabad and other towns in Sindh to celebrate their leader's birthday. This, they did in the best interest of the city, an act that deserves commendation. Soon after London confirmed Farooq's death sentiments took a mournful turn in Karachi without an agitative wake. The city, though, saw little business and was in a strict stayat-home kind of mood, was calm as yet. While the MQM leadership in Karachi and London went into closed-door sessions to discuss the situation arising out of the development, reports from London said no one has claimed responsibility for the attack so far and no arrests have been made. This sad incident is a grave point of concern for all of us especially our political leaders. What else are we waiting for to happen before we realise that Pakistan's enemies are growing stronger as fast as we are fragmenting into ethnic/sectarian groups more and more. How many eye-openers do we need to wake up? We have to identify the enemies within and do away with them before they do the same to us.
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.
Yar Muhammad Khan (SI)
A
ppropriate development through scientific management of land/natural resources leads to sound and bumper economy which in turn provides cemented foundation for vibrant existence of a country. In Pakistan, so far, due to ad hoc management and lopsided policies with defective implementation, evaluation, and feedback system the country, in spite of innumerable resources, has become a pauper more or less, thereby losing its independent status. It is here, that after the devastation of floods, we must detract from the old discordant policies & management practices and adopt new strategies to beef up production through scientific endeavors so as to carve out a New Pakistan based on thrilling economy. For this, I hereby present a modest and precise plan, which can be further supplemented/complemented by experts and relevant stakeholders. Pakistan emerged as an independent nation of the world in 1947. It occupies a geographic area of 87.98 mha or about 0.8 million sq-km. Out of which classed land is 59.55 mha i.e. 68 per cent while unclassed happens to be 28.56 mha as 32 per cent of the total area. Cultivable land is 20.55 mha --23 per cent. Culturable wasteland is 11.19 mha --12.8 per cent. Land affected by water logging is 6.9 mha and by salinity 4.5 mha. Urbanisation is rampant to the extent of 5-7 per cent. In addition millions of hectares stand affected by wind and water erosion. As a result 75 per cent of the land is turning into dry desert. In other words only 68 per cent land is available for development at present while 28 per cent is not under any treatment, which also needs immediate retrieval for urgent development.(Ref 1992- National Statistics) Physiographically Pakistan can be divided into three major units: i) The Northern Mountains The northern mountains are the meeting place of the three great mountain ranges of the world, the Karakoram, the Himalayas and the Hindukush. Although there are more than fifty peaks which are higher than 6700 meters above sea level but some of the Peaks like K-2, Pamir and Trichmir are famous throughout the world. This region has lush green forests, alpine pastures, cold deserts, sprawling agri/ grassy fertile lands with a multiple variety of precious and rare fauna & flora. The tract abounds in the rich reservoirs of blue gold -- the great glaciers. ii) The Western Highlands The western highlands are lower in altitude and comparatively drier than the northern mountains. The aridity increases in these highlands as one travels from Khyber Pakhtunkhwa in the north to the Balochistan province in the South. Takht-Suleman is the highest peak in these mountains standing tall at 3,374 meters. This tract has very fertile agricultural and pastoral land, with low to medium high altitudes and abundance of fertile, fruit, agricultural and range land as well as adequate minerals, flora, fauna and other resources. The areas are punctuated with numerous streams and rivers and have flood plains and arid tracts. iii) The Indus Plains The Indus plain mostly confined to the province of Punjab consists of fine alluvium deposited by the Indus, and
its five tributaries, i.e. Ravi, Chenab, Jhelum, Sutlej and Beas. Southward in Sindh, this plain is lower in altitude, is of more recent character and is formed by the deposits of only one river (Indus). It has vast tracts of dry deserts and swamps in addition to larger tracts of fertile arable lands. In addition to these three a relatively small physiographic division comprises the Potohar plateau and salt range in the Punjab and occupies the northwestern section of the Indus plain. Biotic Setting Pakistan has a great variety of ecological zones / bio-climates and correspondingly a great diversity of vegetation and animals. The major habitats in the country, are the ocean, the swamps, the rivers, the lakes, the flood plains, the arid plains, the sand and pavement deserts, the tropical thorn, tropical dry deciduous, subtropical arid, subtropical dry, subtropical plains, dry and moist temperate and subalpine forests, grassy tundra's and cold deserts. So Pakistan is so rich in these resources which very of a few countries of the world can have such varied bioclimatic/ecological zones, needed for maximum and all weather commodity and high valued crop production. The country's extreme vulnerability to climate change is a result of its geographic location and elevation, as well as its demographics and mismanagement of the inclusive land and natural resources. Pakistan lies on a steep incline, dropping sharply from almost 8,500 meters down to sea level within a distance of less than 3,000 kilometers. This situation is augmented by the presence of huge glacial reserves in the north. These melt and flow through the country to supply more than 70 per cent of its river flows. The frozen "blue gold" is Pakistan's most precious reserve and it sustains the agriculturebased economy, which is aided by monsoon rains. This precious resource of water has, however, been administered with utter apathy and negligence, resulting in adverse climate change and floods syndromes while additionally affecting adversely the optimal production of the country. Past Management of these Units and its Hazardous Effects Due to non existence of long term patent sustainable policy of resource development from the government. side, to preserve and further develop the valuable natural and other land resources and maintain proper coordination with local communities, the Northern mountain and the western high lands have been utterly mismanaged where land resources especially the forests, a permanent source of soil stabilisation have been ruthlessly cut and destroyed paving way for impending flood catastrophes. ● Similarly due to uncontrolled over grazing by million of cattle's in the tract, the grassy land & other vegetation have been awfully decimated / disturbed providing severe chances to flood havocs on one hand while on other hand turning the lush green tract into deserts/vegetation less areas prone to soil and wind region. ● Faulty Agricultural practices e.g. to cultivate the sloppy & highlands with out vouching for proper terracing and optimal crops rotation as well as lack of sound integrated w/shed management practices, have washed the fertile soil away leaving behind loose soil & mud to be affected
even by a low quantum of rains. ● Again due to haphazard & unplanned construction/habitation, the sloppy areas of the tract have been made highly vulnerable to severe erosion/land slides and floods. ● In the Indus plans due to misuse of water and other cultural malpractices, it has been severely inflicted with water logging, salinity, water & wind erosion and loss of organic matter. ● Similarly due to incommensurable and ad hoc management of land & natural resources 75 per cent of the fertile land of the country is shortly becoming deserts. ● Again consequent upon unplanned industrialisation & urbanisations, arable lands are converted into urban tracts and thus become producers of acidic effluents that flow into oceans, rivers and canals raising hazards for aquatic life as well as squeezing the productive base of the country. ● Due to high degree of erosion in uplands, rivers, canals and waterways get filled with fine sandy/loamy clay soil and raise its beds firmly supporting the impending flood havocs especially in the monsoon rains. In short, due to lack of compatible long term development policy and non existence of scientific management system and a viable monitoring, evaluation and feed back process, in the past, classified land resources of the country have not been properly surveyed, datatised, managed and developed within multiple ecological zones of the country while on the other hand the remaining natural resources of the unclassed land have been lost or awfully damaged due to manmade and natural catastrophes. The July, 2010 floods are a wakeup call and a blessing in disguise for the scientists, planners, politicians and administrators to hold heads together and conjecture a basic 50100 years policy of for rebuilding of a New Pakistan with religious zeal and steadfast resolve. To implement and monitor it with viable feedback system we will have to develop our land & natural resources in an apple pie order so that Pakistan becomes a safe haven, economically independent, and sovereign for its brave & laborious millions in future. ● I, as an individual, qua retired professional having about 50 years professional experience, assure the nation that it is a job full of sacrifices & devotion but not impossible. It is here that I sincerely desire to lay down a precise model of development as how to achieve these goals and also to avert/mitigate such disasters in future. ● First of all the government shall plan for a coordinated response strategy to immediately form a L&NR Resource Development Commission, where on merits, dedicated professionals, planners, specialists, lawyers and others relevant persons be included from all provinces as its members. The said commission shall have a subcommittee from provinces where persons of impeccable calibre be installed. Favoritism, Nepotism Cronyism and other malpractices be evaded for keeping this sacred national trust in view. After having the formation of the commission, a basic national policy of 50-100 years of rebuilding Pakistan i.e. developing its natural and land resources be initiated by adopting the
model given below. a) A database system for the country/provinces should be set up, under which, the professionals will collect the detailed land, human, natural resources, and other relevant data through spot and land satellite imaging techniques as well as aerial photography and land survey. Detailed consolidated/integrated land resource maps would thus be for the country. b) Based on national level database, a national land-usage policy be promulgated c) Under the land use policy based on the availability of resources & other characters of the area, different zones be delineated. d) Keeping the nature of resources in different zones, zonal laws must be edited. e) Then in each zone integrated land resource development plans should be set up and executed in a coordinated manner with participated approaches. This process is replicated for each province and different region depending on the variability of resources and other characters. f) Again here at country as well as Provinces and regional level an efficient and viable monitoring, evaluation and feed back system would be established where computerised data would be available and easily transmitted to other implementing agencies. Through this system the basic development policy, land use plan etc. would be regularly updated and made compatible with international standards. By adopting this highly scientific strategy like other advanced countries we will perfectly avoid the misuse of land, water, soil, mineral, wildlife and other land resources through faulty Agricultural, commercial and other harmful practices and would definitely. Obscure the dangers of flood havocs which are being hatched from faulty agro-ecological practices & ad hoc management Under this model, rivers, canals, and other waterways would be properly trained and watershed/catchment areas and dams be managed through integrated watershed management practices. To avoid flood havoc a perfect river training model is narrated as under. A detailed survey of a river, to know its width, depth, type of bed soil, and length be carried out first. Then it should be planned in a manner that it turns into the shape of a canal with measurements of width and depth so that it can contain and let water pass through. It must be 20-30 per cent more capacious than the highest ever flood level. The bank of this so-called canal-river should be turned into 50'100' or higher embankments supported by trees to keep them stabilised. From such a model river new --canal-- network of distributaries through the area maybe constructed for irrigation, power generation and other productive purposes. By doing this, on one side floods could be avoided & its water can also be conserved for agriculture, power generation and other purposes and on other side, a sizable land would be recovered for agri & other productive purposes. The writer is ex-secretary environment ex-vice chancellor, Agricultural University, Peshawar
The ‘Maybe’ Upshots of Afghan Elections A
fghanistan is holding a vote on Saturday (today) for 249 seats in its lower house of parliament amid Taliban threats to disrupt the poll and serious concerns about fraud and low voter turnout. Here are some scenarios on how the vote could play out: MAJOR VIOLENCE, LOW TURNOUT The Taliban have threatened to derail the process and have been attacking and intimidating candidates, campaign workers, voters and election officials, warning of violence against those who participate in the election. Officials on Friday reported a rash of at least 20 election-related kidnappings they blamed on insurgents. If the scale of violence reaches massive levels, it could have a serious effect on turnout that disenfranchises more voters. At least 1,000 of a planned 6,835 polling stations will stay closed over security fears. Such an outcome would leave the election lacking credibility. Turnout may also suffer from cyni-
cism among Afghans that democracy is a farce, especially after the fraudmarred presidential election last year. History shows the Taliban have had limited success in disrupting past elections. They were active in both the 2005 parliamentary poll and the 2009 presidential vote, but did not stop voting from going ahead. Last year, however, attacks and threats did result in low turnout in Taliban strongholds in the south, which is the heartland of ethnic majority Pashtuns. MODERATE VIOLENCE, MODERATE TURNOUT, MODERATE FRAUD Afghanistan is a country at war and has limited infrastructure amid some of the world's most forbidding terrain, so pulling off a nationwide election is no mean feat. In that context, the definition of a successful election changes. U.N. envoy Staffan de Mistura has said a turnout of between 28 per cent and 40 per cent should be considered a success. He made that comment when the reg-
istered number of voters was estimated at around 17.5 million. Afghanistan's election commission said on Thursday there were only 11.4 million eligible voters, but gave no explanation for the discrepancy. Some fraud can be expected since campaigning in Afghanistan's young democracy often consists of candidates offering money directly to voters, with the highest bidder winning their vote. Traditional patronage systems also play a big role. Given the Taliban's failure to completely disrupt the 2005 and 2009 polls, and the presence of nearly 150,000 foreign troops alongside nearly 300,000 Afghan police and soldiers, this seems a more likely outcome. RAMPANT FRAUD BUT MINIMAL VIOLENCE It is still possible there will be widespread fraud but minimal violence, lessening the focus on turnout. But another fraud-hit poll would still be judged a failure and would further strain relations between President Hamid Karzai and his Western backers.
Washington and its allies in Afghanistan were infuriated by the fraud surrounding Karzai's re-election, and graft in his government remains a major point of friction. There is a perception among many Afghans that Karzai's government, and politicians in general, are only in it for personal enrichment and not national development. It also makes it easier for the Taliban to exploit the political landscape. Since greater government stability will be a big factor in Washington's impending strategy review, in which the scale and pace of troop withdrawals are likely to be examined, more fraud could make an eventual US pullout more difficult. The only certainty is that it will be a long and drawn-out process, with preliminary results not expected before Oct. 8 and a final result not before Oct. 30. Those dates could be pushed back further if, as expected, there are thousands of complaints from disgruntled losers among the 2,500-odd candidates.-Reuters
5
Saturday, September 18, 2010
Jakarta at all-time high; Manila slips from peak KSE-100 Index Opening Closing Change % Change Turnover (mn)
Khi stocks finish week in green zone
10,017.14 10,052.97 35.83 0.36 66.54
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,170.37 3,189.47 19.10 0.60 3.15
Nawaz Ali
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,581.75 2,591.49 9.74 0.38 0.23
Major Gainers
Symbol
Close
Change
WYETH 940.00 NESTLE 1,880.50 COLG 682.99 IDYM 245.50 FZTM 361.32
40.65 30.50 30.49 11.11 7.18
Major Losers
Symbol
Close
Change
SIEM 1,106.34 ULEVER 4,048.26 SHEZ 102.00 MFFL 69.42 PHDL 66.61
-25.49 -22.74 -4 -3.43 -3.39
Top 5 Volume Leaders
Symbol
Close Vol (mn)
NPL NML DGKC UBL HUBC
10.96 48.95 25.30 54.51 33.50
7.67 6.10 4.61 3.03 2.74
Active Issues Plus Minus Unchanged
202 122 25
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
Europe shares fall on US data, bank worries
MUMBAI: An Indian stock broker reacts while looking at Sensex index at brokerage firm. Indian shares post their best weekly gain in 10 months to close 0.9pc higher on Friday. -Reuters
Financials, energy bring FTSE down LONDON: Financials and energy stocks dragged Britain's top share index lower by the close on Friday as weak US confidence data and worries over Ireland's finances prompted investors to edge out of riskier assets. The FTSE 100 index ended 31.69 points or 0.6 per cent lower, at 5,508.45, having retreated from significant gains earlier in the session. It fell for a third day having lost 0.3 per cent on Thursday, but it eked out a 0.1 per cent gain for the week, its fourth week in positive ground. Banks, which are sensitive to slight changes in risk appetite, took most points off the index while other financial stocks also suffered. Barclays fell 3.2 per cent and hedge fund company Man Group fell 4.4 per cent. "You can't expect it to go up in a straight line and the data gave people an excuse to take profits," said Philip Poole, global head of macro investment strategy at HSBC Global Asset Management.
"But I think there will be further upside because it's less likely that there will be a double dip than there will be low but sustained growth." The cost of insuring Irish sovereign debt against default hit a record high and the Irish/German spread reached a euro lifetime peak after the Irish Independent newspaper said Ireland was "perilously close" to calling in the IMF and the EU. The Irish authorities and the IMF sought to downplay any such prospects, but markets were slightly unsettled and equities fell. Insurers were also hurt by the slight retreat in risk appetite. Aviva fell 0.9 per cent while Old Mutual lost two per cent. Energy stocks were also weaker as crude fell by more than 1.5 per cent to below $74 per barrel. BP fell 1.3 per cent. Aggreko was the top bluechip riser, up 4.1 per cent as Credit Suisse started coverage on the temporary power supplier, albeit with a "neutral" stance. Engineering group See # 15 Page 11
India stocks climb on foreign buying MUMBAI: Brisk foreign fund inflows helped Indian shares post their best weekly gain in 10 months to close 0.9 per cent higher on Friday, led by Reliance Industries, having tested new 32-month highs each day of the week. Reliance Industries led the gainers, rising as much as 2.9 per cent after a source said the energy major was in talks with US-based Chesapeake Energy to buy a stake in Eagle Ford shale gas project. If a deal is struck, it would be the firm's fourth such buy this year. The BSE index rose 0.91 per cent or 177.26 points to 19,594.75, with 24 of its components closing in the green. "India's outperformance versus other emerging market peers, its strong economic growth and earnings growth forecast, makes it attractive," said Rakesh Rawal, head of private wealth management at Anand Rathi. In the broader market, gainers were 1.5 times the number of losers in a relatively better volume of 481 million shares. The 50-share NSE index rose nearly one per cent to 5,884.95
points. Nine of the top 30 stocks scaled their all-time high this week, as the benchmark logged its third straight weekly gain. It rose 4.2 per cent this week, its best weekly gain in 10 months. Reliance Industries closed 2.6 per cent higher at 1,026.75 rupees. Bharti Airtel rose 2.9 per cent to 357.90 rupees as Credit Suisse raised its price target on the stock to 415 rupees from 360 rupees and retained "outperform" rating. Software majors recouped some of Thursday's losses, with the sector index edging 0.5 per cent higher after shedding 2.3 per cent in the previous session. Tata Consultancy Services and Infosys Technologies firmed 1.9 per cent and 0.2 per cent respectively while Wipro bucked the trend and dropped 0.7 per cent. Financials fared mixed after a Reuters poll showed on Thursday, India still has one or two more interest rate increases in store for the rest of the fiscal year that ends in March 2 0 1 1 . See # 16 Page 11
KARACHI: The week ended on a positive note at Karachi Stock Exchange (KSE) due to local institution's buying with European Union agreement to provide assistance to Pakistan's exports providing some additional support. However, investor participation remained low owing to security situation in the city after the killing of MQM leader in London. The benchmark KSE 100index rose 35 points to 10,052 points, KSE 30-index grew 28 points to 9,870 points and KSE all-share index climbed 27 points to 7,022 points. "Investors remained cautious over tense law and order situation in the city. However, buying at attractive levels allowed the market to close positive," said Tariq Hussain Khan, Head of portfolio management Darson Securities. EU agreement of concession in tariff for exports from Pakistan and positive news regarding IranPakistan gas pipelines also supported the index to sustain 10,000 levels, he added.
US stocks mid-day
Market surpasses key level on strong earnings NEW YORK: The S&P 500 briefly pierced a key level on Friday after solid earnings from Oracle and Research In Motion, but stocks were little changed after a survey showed consumer sentiment worsened in early September. The S&P 500 managed to briefly overcome key technical resistance around 1,130, pushing through intraday highs from June and August. A decisive move above that level on solid volume would be a bullish sign. A report that the International Monetary Fund might bail out Ireland weighed on stocks early in the session. That as well as a survey on deteriorating consumer sentiment sparked profit-taking after the 1,130 level was reached. "It's the top end of the range. It's a good place to take profits, and I think that's what we saw happen in Friday trade," said Nick Kalivas, an analyst at MF Global in Chicago. He added that a Federal Reserve meeting and earnings reports next week helped to keep investors on the sidelines. The Dow Jones industrial average gained 11.43 points, or 0.11 per cent, to 10,606.26. The Standard & Poor's 500 rose 1.53 points, or 0.14 per cent, to 1,126.19. The Nasdaq Composite added 12.06 points, or 0.52 per cent, to 2,315.31. Volume spiked at the open, with more than 1.5 billion shares traded on the New York Stock Exchange, Amex and Nasdaq in the first half hour, more the double the levels in recent days. "Clearly coming into today on a short-term basis we were in a minor upturn, and the bulls showed they were in command of the marketplace in opinion or buying power," said Jeffrey Friedman, senior market strategist at Landward in Chicago. If indexes are unable to regain ground before the close of trading, "it's going to question that concept," said Friedman. Support for the S&P 500's 200-day moving average remains around 1,116, a level it vaulted on Monday. See # 17 Page 11
Market took a negative beginning of the day and was mainly in the negative zone during the first session due to selling pressure developed after uncertain law and order situation in the city. Therefore, index breached the psychological barrier of 10,000 points and at a moment it touched its lowest level of the day of 9,959 points (-ve 57 points). However, some renewed buying activities at lower levels allowed the index to recover and it managed to close the first session with reduced loss of 13 points at a level of 10,003 points. Thereafter, in the second session the remaining losses were wiped off and index bounced into the positive zone due to continued buying by the local institutional investors. Index at about 4:04 PST touched an intraday high of 10,069 points (+ve 52 points). Finally, market managed to close the last session of the week in the green zone. "Assurance by EU regarding concessions to Pakistani textiles allowed the beneficiary stocks to invite renewed buy-
ing on strength, while accumulation on dips did invite snap rallies in various main board stocks, having the capacity of trading at improved multiples after launching of the much awaited leverage product thus keeping the main board on the winning streak, besides providing short term trading opportunities to the market men," said an equity dealer at a local brokerage house. Foreign investors were however on the selling side as according to NCCPL they did a net selling of $1.06 million. On the local side, mutual funds and banks did a net buying of $1.92 and $0.43 million respectively while individual investors did a net selling of $1.71 million. Volumes stayed on the lower side as 66.5 million shares traded during the day, which were 23.7 million shares less as compared to a turnover of 90.2 million shares on Thursday. Out of total 349 active issues, 202 advanced and 122 declined while 25 issues remained unchanged.
HK equities hit 5-mth high Shanghai ends lower on thin volumes HONG KONG/SHANGHAI: Hong Kong shares rose in healthy volume, lifting the benchmark index to a fivemonth high with investors riding a rally in risk assets across Asia. The Hang Seng Index rose 1.29 per cent to 21,970.86, higher on the year for the first time since mid-April. The China Enterprises Index gained 1.41 per cent to 12,171.19. China's key stock index declined for a third straight session on lower volume as investors continued to trim positions ahead of long holidays in coming weeks. A sharp rally at the start of the week following better-thanexpected data from China and the US helped the benchmark record its sharpest weekly gain since late February, up 3.4 per cent. With the Aussie and the euro rallying today, people were watching whether the Shanghai Composite was going to hold up, said Christian Keilland, head of trading at brokerage BTIG in Hong Kong. "Once Shanghai bounced off the 2,595 support, momentum traders rushed in, chasing high beta stocks," said Keilland. Beta is a measure of volatility of a particular security relative to the broader index. Consumer-related plays rose ahead of the Mid-Autumn Festival holiday in China. Belle International Holdings Ltd, which also has a relatively high beta of 1.45, rose 4.7 per cent and was the top gainer on the Hang Seng Index. Brewers rallied with Tsingtao Brewery Co Ltd up 4.7 per cent on healthy volume. Kingway Brewery Holdings Ltd jumped 10.1 per cent. Chinese car and battery maker BYD Co Ltd, which is backed by billionaire investor Warren Buffet, soared 10.7 per cent amid a broad rally in auto stocks. China Construction Bank Corp rose 2.4 per cent.
Industrial and Commercial Bank of China Ltd was up 0.9 per cent. The week's rally on the Hang Seng Index has taken its relative strength index to 70, which indicates stocks are technically overbought and could be poised for a pullback. The Shanghai Composite Index closed at 2,598.7, finding support around the 2,595 level. Analysts said the index had room to drop further but they saw near-term support around the index's 60-day moving average at 2,580. "Recently, A shares have suffered from a lot of negative news, such as worries over a possible rise in deposit rates. This is impacting sentiment for listed companies," said Chen Xingyu, analyst at Phillip Securities in Shanghai. Turnover was subdued as investors chose to stay away after trimming positions in previous sessions ahead of holidays. China will see two major national holidays in the next three weeks, during which the market will be open for a combined seven trading days, with two weeks having either one or two days. "The upcoming holidays are making investors cautious. During this time if global markets change, what do you do?," said Zhang Gang, analyst at Central Securities in Shanghai. "After the holidays we have September and third-quarter economic data, so this is not giving investors a reason to build up new positions." Power stocks supported the index after state media reported that several Chinese provinces were considering raising electricity prices, which could be followed by others. Huaneng Power International Inc advanced five per cent. Financials were the biggest drag on the index with Agricultural Bank of China Ltd down 1.1 per cent falling further below its listing price. -Reuters
Nikkei at 6-wk high on weak yen TOKYO: Nikkei average rose 1.2 per cent to a six-week closing high on Friday, helped by a weaker yen after Japan's massive yen-selling this week, leading the benchmark to book its best weekly performance this year. On Friday, the benchmark Nikkei rose 116.59 points to 9,626.09, its highest finish since Aug 6. The broader Topix added 0.9 per cent to 852.09. Japanese markets will be closed on Monday for a national holiday. Trade slowed on the Tokyo exchange's first section, with 1.67 billion shares changing hands. Advancing stocks outnumbered declining ones by nearly 4 to 1. In other upbeat technical signs, the Nikkei's 25-day moving average, which is considered a proxy for a one-month moving average and is closely watched in Japan, has turned upward. But market players said the Nikkei faced stiff selling pressure above 9,600 from investors who have waited to square large long positions built at that level. Japan's first currency intervention in six years on Wednesday knocked the yen from a 15-year high versus the dollar and boosted the Nikkei by more than two per cent, though analysts have said the yen's six-month uptrend does not look broken. Even so, the Nikkei posted a weekly rise of 4.2 per cent, its best week since early December 2009, with shares of high-tech exporters and automakers among the top gainers in Japanese stocks this week. On the technical front, the Nikkei also pierced the bottom of its Ichimoku cloud this week and probed higher towards the top of the cloud, though resistance lurks there. "A solid performance by exporters' shares continued as the yen largely kept its weakness against the dollar," said Kazuhiro Takahashi, general manager at Daiwa Securities Capital Markets. "Given Japan's attitude toward intervention this time, such as its large size, countermoves may be unlikely. Eyes are now on the Federal Reserve's meeting next week, at a time when US yields are on the rise." Japan sold an estimated 1.8 trillion yen ($21 billion) for dollars on Wednesday, a record for a single day, with Prime Minister Naoto Kan pointing to more potential yen selling, but Tokyo has faced international criticism for its intervention. Since most advanced economies are grappling with slow growth at home, Japan's move has heightened concerns that countries could launch a round of competitive devaluations to support their own exports. Japan's yen-selling intervention will likely be on the agenda when Prime Minister Naoto Kan meets US President Barack Obama next week in New York, the Asahi newspaper reported on Friday. The dollar traded at 85.70 yen by late afternoon in Tokyo, compared with its low of 82.87 hit on electronic trading platform EBS on Wednesday. Kyocera Corp rose 1.1 per cent to 8,200 yen and Honda Motor Co added 1.9 per cent to 3,015 yen. See # 18 Page 11
ANNOUNCEMENTS Company D.G.K.Cement(Consolidated) D.G.K.Cement JS Global Capit.
Period Yearly Yearly Yearly
Div/Bon/Right 50% (D)
PAT (Rs in mn) 310.776 233.022 -77.356
EPS(Rs) 0.84 0.72 -1.55
6
Saturday, September 18, 2010
Market Volume
66,536,014
Value
2,947,110,025
Trades
42,596
Paid up Cap(mn)
Attock Petroleum Attock Refinery BYCO Petroleum Mari Gas Company National Refinery Oil & Gas DevelopmentSPOT Pak PetroleumSPOT Pak Oilfields Pak Refinery Limited PSO SPOT Shell Gas LPG Shell Pakistan XD
576 853 3921 735 800 43009 9958 2365 350 1715 226 685
Advanced Declined Unchanged Total
Current High Low Change
202 122 25 349
10,052.97 10,069.93 9,957.27 h35.83
High Low 1,249.94 1,223.59 Total cos Defaulter cos P/BV (x) ROE (%) 4.11 37.01
Close Change 1,242.72 9.02 Listed cap Market cap 65,194.15 mn 1,017,327.93 mn Payout (%) Div Yield (%) 68.56 6.18
PE
Open
High
Low
Close Chg
Volume
5.87 9.59 16.66 6.22 10.14 6.64 7.02 4.55 13.96 10.00
323.84 81.51 10.72 121.92 200.07 146.39 211.19 235.22 56.78 264.16 31.25 193.51
326.25 85.58 11.08 124.00 207.00 147.70 214.10 238.44 59.00 269.50 31.50 197.00
320.00 80.50 10.55 119.80 196.50 145.51 209.00 233.41 55.81 262.10 30.00 190.00
325.24 1.40 85.52 4.01 10.85 0.13 122.97 1.05 203.93 3.86 146.99 0.60 211.92 0.73 237.87 2.65 58.98 2.20 268.68 4.52 31.00 -0.25 195.01 1.50
105950 1979011 1298211 50162 135053 222528 1716872 1138983 8519 799622 231 13967
Last 60 days High Low 328.49 93.60 13.05 138.45 206.99 153.00 214.00 238.90 82.00 289.45 43.95 246.90
% Change 0.73 5-Day High 1,243.15 5-Day Low 1,217.78
2009 Div BR (%) (%)
2010 Div BR (%) (%)
281.00 250 73.47 9.62 112.80 32.17 100B 182.01 125 133.00 82.5 182.00 130 20B 209.99 180 48.26 233.10 50 27.32 191.02 330 -
100 31 55 90 80 80 40
20B -
Open
High
Low
250 9.20 273 5.67 1203 8.00 1996 1020 3663 94 4.29 3277 9.17 6635 22000 6785 7.21 9341 7.13 725 1388 7.40 15142 2.96 74 1106 75.00 120 1.23 551 90 4.58
70.19 160.00 171.08 2.00 4.15 1.50 11.50 175.64 12.30 9.97 106.02 27.68 8.57 122.07 8.56 1.80 1.37 2.47 8.71 44.95
72.98 161.50 174.00 2.45 4.20 1.63 11.50 179.00 12.50 10.00 106.41 28.10 8.95 124.76 8.61 1.99 1.65 2.99 9.09 45.45
68.10 160.00 172.00 2.02 3.96 1.49 11.49 173.72 12.17 9.52 105.25 27.52 8.40 120.50 8.35 1.25 1.37 2.50 8.50 44.50
Close Chg 72.28 161.00 173.51 2.25 4.08 1.59 11.50 178.72 12.36 9.63 105.99 28.01 8.61 124.11 8.52 1.40 1.50 2.57 8.97 44.69
2.09 1.00 2.43 0.25 -0.07 0.09 0.00 3.08 0.06 -0.34 -0.03 0.33 0.04 2.04 -0.04 -0.40 0.13 0.10 0.26 -0.26
Last 60 days High Low
Volume 63457 250 223 32012 11053 98234 67809 914919 91127 141870 506125 371394 6759 483603 2554018 987 632273 14649 23348 350
Change 8.69 Market cap 260,568.18 mn Div Yield (%) 6.87
83.80 174.00 185.88 3.15 5.45 2.21 13.60 194.59 12.75 12.80 113.39 30.65 11.45 129.30 9.09 3.24 1.81 3.80 11.09 48.00
% Change 0.76 5-Day High 1,151.55 5-Day Low 1,124.26
2009 Div BR (%) (%)
2010 Div BR (%) (%)
66.90 90 146.00 125 155.38 40 10B 1.78 3.20 1.41 10.85 15 165.60 6010B 40R 9.57 - 27.5R 9.02 102.75 131.5 10B 25.70 40 7.41 109.50 80 6.75 5 1.05 1.16 2.00 8.22 41.10 50 -
15 20 15 20 75 5 55 -
-
Performance of SR Forestry & Paper Index
Company Century Paper Pak Paper Product Security Paper
707 38 411
PE 6.12 4.73
Open 21.14 58.50 39.30
High 21.40 58.96 40.47
High Low 1,222.95 1,178.43 Total cos Defaulter cos P/BV (x) ROE (%) 0.47 7.47 Low 20.60 57.03 39.00
Close Chg 21.30 0.16 58.86 0.36 40.00 0.70
Company
Close 1,213.46 Listed cap 1,186.83 mn Payout (%) 25.28
Last 60 days High Low
Volume 106804 1160 788
Change 14.76 Market cap 3,380.03 mn Div Yield (%) 4.00
22.70 60.12 50.40
15.76 41.21 38.50
% Change 1.23 5-Day High 1,213.46 5-Day Low 1,198.70
2009 Div BR (%) (%) - 425R 20 50 -
2010 Div BR (%) (%) 2533.33B 50 -
Paid up Cap(mn)
Pak Int Cont. Terminal XD 1092 PNSC 1321
Open 1,006.58 Turnover 32,447 P/E (x) 3.15 Company
565 675 555 1199 785
High Low 1,032.35 1,000.82 Total cos Defaulter cos P/BV (x) ROE (%) 1.04 33.10
PE
Open
High
Low
3.45 5.87 5.09 7.00
24.63 2.23 13.70 52.46 9.48
25.60 2.38 14.70 52.80 9.87
25.05 2.15 13.00 52.00 9.10
Close Chg 25.49 2.20 14.04 52.32 9.87
0.86 -0.03 0.34 -0.14 0.39
Close 1,022.93 Listed cap 3,596.11 mn Payout (%) 30.91
Open
High
Low
8.59 5.25
69.36 39.00
70.00 38.57
69.00 38.50
105 14322 12389 4626 1005
31.73 3.22 16.00 70.71 11.35
Open 1,066.74 Turnover 49,572 P/E (x) 3.99 Paid up Cap(mn)
PE
Open
144
Change 16.35 Market cap 9,757.26 mn Div Yield (%) 9.81
24.25 1.90 13.05 48.51 8.20
Close 930.60 Listed cap 54,792.74 mn Payout (%) 19.04
0.63 -0.50
Volume
Last 60 days High Low
3244 400
87.86 41.74
67.62 34.50
2009 Div BR (%) (%) 30
5.05
69.60
High Low 1,076.56 1,056.18 Total cos Defaulter cos P/BV (x) ROE (%) 1.01 25.35
Close 1,070.90 Listed cap 6,768.53 mn Payout (%) 20.42
2010 Div BR (%) (%)
20B -
High
Low
Close Chg
Volume
69.20
67.01
69.18 -0.42
Change 4.16 Market cap 39,737.59 mn Div Yield (%) 5.11
Last 60 days High Low
40 15
-
% Change 0.39 5-Day High 1,070.90 5-Day Low 1,050.61
2009 Div BR (%) (%)
2010 Div BR (%) (%)
7150
78.39
63.01
40
-
90
-
6.95 182.50
185.00 181.15 184.33
1.83
10106
209.00
178.00
100
20B
100
20B
7.09
97.25
101.79
4.54
448
127.99
92.00
80
30B
-
-
Dewan Motors
890
-
1.41
1.70
1.49
0.09
1402
2.24
1.16
-
-
-
-
General Tyre XD
598
6.47
23.98
24.95
23.60
23.61 -0.37
1001
28.80
21.10
-
-
20
-
Ghandhara Nissan
450
-
5.46
5.75
5.50
18318
6.60
4.75
-
-
-
-
Honda Atlas Cars
1428
-
10.77
11.20
10.50
84
Indus MotorsSPOT
786
5.23 228.89
Sazgar Engineering
125
4.80
25.50
98.00 101.79 1.50 5.75
10.65 -0.12
229.45 226.00 228.97 25.50
25.50
0.29
25.50
3906
14.50
10.05
-
-
-
-
0.08
6230
287.00
212.29
100
-
150
-
0.00
1000
27.85
23.58
-
20B
-
-
Open 1,445.96 Turnover 117,057 P/E (x) 30.96 Company Adam Sugar
Paid up Cap(mn)
PE
Open
High
High Low 1,466.20 1,402.23 Total cos Defaulter cos P/BV (x) ROE (%) 9.38 30.30 Low
Close Chg
Close 1,445.30 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
Change -0.67 Market cap 188,180.81 mn Div Yield (%) 0.99
Last 60 days High Low
% Change -0.05 5-Day High 1,462.46 5-Day Low 1,445.30
2009 Div BR (%) (%)
2010 Div BR (%) (%)
58
0.62
11.49
11.75
11.45
11.60
0.11
15000
14.75
10.50
10
-
-
-
Chashma Sugar
287
0.83
10.30
10.30
9.60
10.30
0.00
6012
11.40
8.00
-
-
-
-
Colony Sugar Mills
990
-
3.50
3.98
2.54
3.88
0.38
1009
5.00
2.40
-
-
-
-
Dewan Sugar
365
-
1.80
1.65
1.12
1.38
-0.42
3835
2.98
1.11
-
-
-
-
Habib Sugar
600
5.82
27.30
28.39
27.31
28.22
0.92
47529
27.49
22.50
35
25B
-
-
Habib-ADM Ltd
200
4.39
16.00
16.25
15.30
15.62
-0.38
687
16.94
13.00
40
-
40
-
Hussein Sugar
121
-
7.10
8.10
7.50
8.10
1.00
400
8.04
4.22
-
-
-
-
Ismail Ind
505
12.41
71.77
73.00
73.00
73.00
1.23
105
76.90
53.64
15
-
J D W Sugar
490
65.00
-0.15
Mehran Sugar XD
143
3.00
52.01
53.75
51.50
53.50
1.49
530
58.74
50.07
35
30B
25
10
Mirpurkhas Sugar
70
6.31
59.98
62.24
59.98
59.99
0.01
105
68.13
41.85
25
10B
-
-
National Foods
414
21.08
53.50
56.17
50.83
53.33
-0.17
2351
65.29
41.35
-
25B
-
-
Nestle Pakistan XD
453
21.64 1850.00 1899.00 1795.01 1880.50
30.50
1265
1937.22 1550.00
600
-
200
-
Noon Sugar
165
-
11.00
10.80
10.70
10.72
-0.28
1000
14.35
10.00
50
10B
-
-
Quice Food
107
-
2.10
2.10
2.10
2.10
0.00
24500
3.50
1.60
-
-
-
-
Sakrand Sugar
223
-
3.00
3.00
3.00
3.00
0.00
5000
3.50
2.02
-
-
-
-
Shahmurad Sugar
211
15.29
10.50
10.80
10.50
10.55
0.05
1251
10.75
7.40
15
-
-
-
Shahtaj Sugar
120
-
47.88
50.27
45.50
48.14
0.26
827
93.98
45.40
100
-
-
-
Shakarganj Mills
695
-
3.94
4.00
3.50
3.50
-0.44
302
5.16
3.02
-
-
-
-
UniLever PakistanSPOT
665
22.67 4071.00 4089.00 3910.01 4048.26
-22.74
103
4200.00 3710.00
458
-
178
-
2.18
65.15
65.00
65.00
5104
67.90
60.10
40
17.5 110R
-
0 12.5R
% Change 1.62 5-Day High 1,022.93 5-Day Low 1,006.58
2009 Div BR (%) (%) 10
30B -
2010 Div BR (%) (%) 30 40 -
20B -
Open 1,019.27 Turnover 823,905 P/E (x) 3.81 Company
High Low 1,077.77 990.53 Total cos Defaulter cos P/BV (x) ROE (%) 0.41 10.64
Close 1,069.25 Listed cap 3,763.71 mn Payout (%) 6.27
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
96
AL-Abid Silk
Change 49.98 Market cap 5,667.93 mn Div Yield (%) 1.64
Last 60 days High Low
% Change 4.90 5-Day High 1,069.25 5-Day Low 941.11
2009 Div BR (%) (%)
2010 Div BR (%) (%)
1.14
29.50
29.00
28.03
28.42 -1.08
3200
33.41
28.45
7.5
-
-
-
Nakshbandi Ind
1176 21.16
14.54
15.54
13.54
15.45 0.91
266
14.70
10.00
-
57R
-
-
Pak Elektron
1174
3.22
14.08
15.08
14.20
15.08 1.00
802401
15.95
11.20
-
10B
-
10B
231
2.77
17.20
18.10
16.60
17.00 -0.20
18004
19.12
13.50
-
-
17.5
-
Tariq Glass Ind XD
PERSONAL GOODS Open 920.57 Turnover 12,367,958 P/E (x) 5.49
Change 1.87 Market cap 69,324.88 mn Div Yield (%) 2.79
% Change 0.20 5-Day High 955.95 5-Day Low 928.73
PE
Open
High
Low
Close Chg
Volume
Change 6.69 Market cap 115,422.01 mn Div Yield (%) 3.04
Last 60 days High Low
% Change 0.73 5-Day High 927.26 5-Day Low 917.21
2009 Div BR (%) (%)
High
Low
Close Chg
222
-
1.21
2.21
0.80
2.00 0.79
17005
1.80
0.20
-
-
-
-
Amtex Limited
2415
4.81
17.92
18.30
17.70
17.98 0.06
661439
20.45
10.42
-
-
30
-
3.58
3.65
3.51
3.65 0.07
3100
4.69
2.82
-
-
-
-
Artistic Denim
840
5.97
19.80
20.48
20.47
20.48 0.68
1501
21.59
17.55
20
-
-
-
Attock Cement
866
4.86
68.00
68.50
68.00
68.49 0.49
10395
72.40
63.00
50
20B
17.5
-
Azgard Nine
4493 263.00
10.73
10.79
10.43
10.52 -0.21
1839984
13.40
8.55
-
-
-
-
Berger Paints
182
-
16.32
16.69
16.30
16.53 0.21
2441
20.00
15.42
-
-
Cherat Cement
956
-
11.52
11.20
11.20
11.20 -0.32
2300
12.50
8.90
-
Dadabhoy Cement
982 12.69
1.62
1.74
1.56
1.65 0.03
18001
2.74
1.50
-
Dandot Cement
948
-
1.85
2.00
1.09
1.69 -0.16
1717
3.90
1.02
-
Dewan Cement
3574
-
1.54
1.53
1.45
1.50 -0.04
28777
2.20
1.40
DG Khan Cement Ltd
3651 35.14
25.23
25.59
24.80
25.30 0.07
28.74
-
3.18
3.30
3.02
3.03 -0.15
8428
6933 13.13
5.29
5.39
5.12
5.25 -0.04
316979
Fauji Cement
Ali Asghar Textile
- 122R
Bannu Woolen
-
-
-
Blessed Tex Mills
-
-
-
Chenab Limited
-
-
-
Colgate Palm
-
-
-
-
Colony Mills Ltd
2442
2.35
2.80
3.05
2.80
2.80 0.00
2524
23.02
-
20R
-
20R
Crescent Textile
492
3.10
20.20
20.01
19.81
19.81 -0.39
899
5.15
2.40
-
-
-
-
Ellcot Spinning
110
1.68
24.71
24.50
23.85
24.50 -0.21
1001
5.50
4.50
-
-
-
-
Gadoon Textile
234
1.41
36.51
38.33
37.00
38.33 1.82
30480
76
-
8.75
9.20
9.00
9.20 0.45
1500
10.50
7.50
-
-
-
-
64
1.15
44.21
46.25
46.25
46.25 2.04
151
49.40
36.15
7.5
-
-
-
1150
-
3.59
3.71
3.25
3.66 0.07
5.10
2.85
-
-
-
-
770.00
544.00
115
15B
-
-
5.00
2.23
-
-
-
-
28.60
19.57
-
-
-
-
25.30
18.80
7.5
-
-
-
44.50
31.60
-
-
-
-
316
14.67 652.50
682.99 640.01 682.99 30.49
129281 114
Flying Cement Ltd
1760
-
2.03
2.20
2.00
2.11 0.08
66687
2.37
1.75
-
-
-
-
Gul Ahmed Textile
635
3.83
19.99
20.70
20.70
20.70 0.71
4077
23.00
17.11
5
-
-
-
Gharibwal Cement
2319
-
4.00
4.24
3.00
3.04 -0.96
541571
8.64
3.36
-
-
-
-
Gulistan Spinning
146
1.71
6.00
5.89
5.02
5.03 -0.97
1608
7.00
4.51
-
10B
-
-
-
Hira Textile Mills Limited716
1.56
4.29
4.50
4.10
4.38 0.09
26053
4.61
2.52
-
-
-
-
Haydery Const
32
-
1.03
1.10
1.00
1.05 0.02
6001
2.00
0.85
Javedan Cement
581
-
57.11
59.95
59.00
59.00 1.89
1000
71.92
57.01
1288
-
6.20
6.20
6.19
6.20 0.00
25010
7.38
5.70
Kohat Cement Lafarge Pakistan Cmt.
Total Assets (Rs in mn)
4.82
Total Equity (Rs in mn)
1,455.21
MA (100-day)
7.54
Revenue (Rs in mn)
1,250.25
MA (200-day)
10.53
11,525.06
Interest Expense
370.77
1st Support
2.66
Loss after Taxation
2nd Support
2.21
EPS 09 (Rs)
1st Resistance
3.90
Book value / share (Rs)
2nd Resistance
4.69
PE 10 E (x)
Pivot
3.45
PBV (x)
(369.85) (1.595) 6.28 0.48
GWLC closed down -0.96 at 3.04. Volume was 6,212 per cent above average (trending) and Bollinger Bands were 23 per cent wider than normal. The company's loss after taxation stood at Rs1.209 billion which translates into a Loss Per Share of Rs5.21 for the nine months of fiscal year (9MFY10). GWLC is currently 71.5 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 very strong flows of volume out of GWLC (bearish). Trend forecasting oscillators are currently bearish on GWLC.
Nimir Industrial Chemicals Ltd.
Fundamental Highlights As on Jun 30, 2009
Technical Analysis RSI (14-day)
52.80
Total Assets (Rs in mn)
MA (10-day)
1.44
Total Equity (Rs in mn)
MA (100-day)
1.75
Revenue (Rs in mn)
MA (200-day)
1.87
Interest Expense
1st Support
1.35
Loss after Taxation
2nd Support
1.22
EPS 09 (Rs)
1st Resistance
1.63
Book value / share (Rs)
2nd Resistance
1.78
PE 10 E (x)
Pivot
1.50
PBV (x)
1,674.73 114.34 1,383.58 88.00 (146.72) (0.663) 0.52 2.90
NICL closed up 0.13 at 1.50. Volume was 162 per cent above average (trending) and Bollinger Bands were 54 per cent narrower than normal. The company's profit after taxation stood at Rs4.568 million which translates into an Earning Per Share of Rs0.02 for the year ended FY10. NICL is currently 19.5 per cent below its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NICL (mildly bullish). Trend forecasting oscillators are currently bullish on NICL.
Pak Elektron Limited
Fundamental Highlights As on Jun 30, 2009
Technical Analysis RSI (14-day)
69.83
Total Assets (Rs in mn)
MA (10-day)
13.48
Total Equity (Rs in mn)
MA (100-day)
13.47
Revenue (Rs in mn)
19,070.04 4,007.36 14,621.61
MA (200-day)
15.07
Interest Expense
1st Support
14.52
Profit after Taxation
2nd Support
13.92
EPS 09 (Rs)
2.685
1st Resistance
15.40
Book value / share (Rs)
1,372.68
41.29
260.55
2nd Resistance
15.68
PE 10 E (x)
3.22
Pivot
14.80
PBV (x)
0.37
PAEL closed up 1.00 at 15.08. Volume was 299 per cent above average (trending) and Bollinger Bands were 28 per cent narrower than normal. The company's profit after taxation stood at Rs275.249 million which translates into an Earning Per Share of Rs2.34 for the half year of fiscal year (1HFY10). PAEL is currently 0.2 per cent above 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 PAEL (mildly bullish). Trend forecasting oscillators are currently bearish on PAEL.
Ravi Textile Mills Limited
2010 Div BR (%) (%)
Open
350
2010 Div BR (%) (%)
Paid up Cap(mn)
Close 927.26 Listed cap 47,070.70 mn Payout (%) 16.68
-
EMCO Ind
2009 Div BR (%) (%)
Company
High Low 933.85 918.31 Total cos Defaulter cos P/BV (x) ROE (%) 0.47 8.64
PE
4614073
30.64
MA (10-day)
HOUSEHOLD GOODS
Performance of SR Personal Goods Index
Last 60 days High Low
Volume
RSI (14-day)
Performance of SR Food Producers Index
1828
Company
Fundamental Highlights As on Jun 30, 2009
Technical Analysis
FOOD PRODUCERS
Paid up Cap(mn)
Al-Abbas Cement
Gharibwal Cement Limited
% Change 0.40 5-Day High 721.60 5-Day Low 710.66
626
CONSTRUCTION AND MATERIALS High Low 945.85 919.66 Total cos Defaulter cos P/BV (x) ROE (%) 0.48 7.10
69.99 38.50
Change 2.88 Market cap 12,995.82 mn Div Yield (%) 1.92
Atlas Honda
Atlas BatterySPOT
Performance of SR Construction and Materials Index Open 928.73 Turnover 6,787,933 P/E (x) 6.83
Close Chg
Close 714.08 Listed cap 3,242.17 mn Payout (%) 11.08
Alert ! Unusual Movements
Performance of SR Household Goods Index
Last 60 days High Low
Volume
High Low 714.45 706.37 Total cos Defaulter cos P/BV (x) ROE (%) 1.47 25.53
PE
Performance of SR Industrial Metals and Mining Index
Crescent Steel XD Dost Steels Ltd Huffaz Pipe International IndXDXB Siddiqsons Tin
15,687.59 15,714.03 15,480.83 h96.09
Performance of SR Automobile and Parts Index
INDUSTRIAL METALS AND MINING
Paid up Cap(mn)
Current High Low Change
9,870.65 9,884.21 9,758.69 h28.63
AUTOMOBILE AND PARTS
Agriautos Ind
Close 1,151.55 Listed cap 52,251.88 mn Payout (%) 48.81
FORESTRY AND PAPER Open 1,198.70 Turnover 108,752 P/E (x) 6.32
Open 711.21 Turnover 3,644 P/E (x) 5.77
Company
High Low 1,156.06 1,133.87 Total cos Defaulter cos P/BV (x) ROE (%) 2.49 35.00
PE
Paid up Cap(mn)
Current High Low Change
INDUSTRIAL TRANSPORTATION
Open 1,142.85 Turnover 5,840,685 P/E (x) 7.10
BOC (Pak) XD Clariant Pak Dawood Hercules Descon Chemical Descon Oxychem Ltd. Dewan Salman Dynea Pak Engro Corp. LtdSPOT Engro Polymer Fatima Fertilizer Fauji Fertilizer XD Fauji Fert.Bin Qasim XD Ghani Gases Ltd ICI Pakistan XD Lotte Pakistan Mandviwala Nimir Ind Chemical Shaffi Chemical Sitara Peroxide Wah-Noble
7,022.36 7,032.60 6,957.06 h27.31
KMI 30 Index
Performance of SR Industrial Transportation Index
Performance of SR Chemicals Index
Paid up Cap(mn)
Current High Low Change
KSE 30 Index
OIL AND GAS
CHEMICALS
Company
All Share Index
Performance of SR Oil and Gas Index Open 1,233.70 Turnover 6,170,898 P/E (x) 11.10 Company
KSE 100 Index
Symbols
Fundamental Highlights As on Jun 30, 2009
Technical Analysis RSI (14-day)
33.71
Total Assets (Rs in mn)
MA (10-day)
2.03
Total Equity (Rs in mn)
MA (100-day)
5.71
Revenue (Rs in mn)
9.12
Interest Expense
437.02 75.13 316.78
-
-
-
- 200R
-
-
Ibrahim Fibres
3105
3.45
36.37
38.18
36.61
37.50 1.13
156
41.00
33.35
-
-
-
-
MA (200-day)
-
-
-
Idrees Textile
180
2.45
3.98
4.34
3.52
4.02 0.04
2497
4.58
2.55
-
-
-
-
1st Support
1.75
Profit after Taxation
0.24
J K SpinningXDXB
74
0.50
7.16
7.45
6.50
7.42 0.26
303
10.30
4.30
-
-
20
5B
2nd Support
1.55
EPS 09 (Rs)
0.01
-
12.51
13126
-
2.92
3.15
2.85
2.89 -0.03
327419
3.53
2.60
-
-
-
-
Lucky Cement
3234
6.44
71.80
72.50
71.10
71.70 -0.10
735247
73.88
61.29
40
-
40
-
Kohinoor Ind
303
-
1.72
1.93
1.51
1.74 0.02
161103
2.00
1.10
-
-
-
-
1st Resistance
2.10
Book value / share (Rs)
Maple Leaf Cement
3723
-
3.19
3.25
3.03
3.15 -0.04
69829
3.84
3.00
-
-
-
-
Kohinoor Textile
1455
3.66
5.77
6.30
5.82
5.90 0.13
118977
6.25
4.00
-
-
-
-
2nd Resistance
2.25
PE 10 E (x)
5.07
Pioneer Cement
2228
-
8.03
8.20
7.91
8.10 0.07
4769
8.39
5.60
-
-
-
-
Maqbool Textile
168
5.17
7.85
8.85
8.80
8.84 0.99
268
11.40
3.25
-
-
-
-
Pivot
1.90
PBV (x)
0.65
200
-
7.95
7.51
7.06
7.18 -0.77
17976
9.47
5.50
-
-
-
-
Mehmood Textile
150
2.38
63.80
66.99
61.20
-
-
RAVT closed down -0.05 at 1.96. Volume was 14 per cent below average and Bollinger Bands were 86 per cent narrower than normal. The company's profit after taxation stood at Rs7.167 million which translates into an Earning Per Share of Rs0.29 for the nine months of fiscal year (9MFY10). RAVT is currently 78.7 per cent below its 200-day moving average and is displaying a downward 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 RAVT at a relatively equal pace. Trend forecasting oscillators are currently bearish on RAVT.
Safe Mix Concrete Shabbir Tiles
361
-
10.75
10.10
10.10
10.10 -0.65
998
12.23
8.10
-
-
-
-
Thatta Cement
798
-
19.25
19.80
19.65
19.65 0.40
3071
21.80
17.74
-
-
-
-
Company Cherat Papersack ECOPACK Ltd Ghani Glass Merit Pack Packages Ltd Tri-Pack Films
Paid up Cap(mn)
PE
Open
92 4.67 48.19 230 2.00 970 6.47 59.50 47 - 13.76 844 16.66 110.00 300 8.02 100.50
High
High Low 908.45 892.07 Total cos Defaulter cos P/BV (x) ROE (%) 1.15 43.91 Low
Close Chg
50.30 47.55 48.97 0.78 2.44 2.05 2.05 0.05 60.74 58.63 60.00 0.50 14.40 13.03 14.40 0.64 110.00 109.00 109.97 -0.03 101.50 99.01 99.99 -0.51
Close 902.25 Listed cap 3,043.31 mn Payout (%) 15.55
Volume 94836 5001 8626 300 26125 3786
1506
74.50
46.00
221
-
0.50
0.84
0.33
0.50 0.00
5018
1.40
0.05
-
-
-
-
145
-
0.45
0.94
0.34
0.40 -0.05
5590
0.99
0.26
-
-
-
-
Nagina Cotton
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 906.91 Turnover 138,763 P/E (x) 2.62
61.56 -2.24
Mian Textile Mukhtar Textile
Change -4.67 Market cap 33,346.70 mn Div Yield (%) 5.92
Last 60 days High Low 51.05 2.89 59.88 20.70 125.96 105.00
28.87 1.90 54.65 11.81 106.05 91.00
% Change -0.51 5-Day High 906.91 5-Day Low 901.16
2009 Div BR (%) (%) 30 32.5 100
10B -
2010 Div BR (%) (%) 20 -
25B -
187
1.86
16.00
16.00
15.50
16.00 0.00
1050
16.00
10.70
-
-
Nishat (Chunian)
1586
3.18
16.51
17.30
16.36
17.15 0.64
2625918
19.49
14.64
-
50R
-
-
Nishat Mills
3516
5.76
46.62
48.95
46.51
48.95 2.33
6104561
53.14
40.81
20
-
25
45R
Pak Synthetic
560
3.90
6.50
6.99
6.40
6.51 0.01
7.90
250
5.03
2.01
2.05
1.70
1.96 -0.05
380007
308
1.16
9.00
9.45
9.00
9.45 0.45
1790
-
-
5.50
12.5
-
-
-
8.10
1.90
-
-
-
-
10.68
6.91
-
-
-
-
Company
From
To
Royal Bank of Scotland Shahpur Textile Mills # Japan Power Generation General Tyre & Rubber Pak Oman Adv Fund PICIC Inv Fund Altas Battery Century Paper & Board Oil & Gas Dev Co Pakistan Petroleum Unilever Pakistan Universal Insurance # Husein Sugar Mills # Pakistan State Oil Bank of Punjab Engro Corp (Consolidated) First Prudential Modaraba JS Investments Pakistan Hotels Developments Standard Chartered Modaraba Unilever Pak Foods Indus Motor Ittehad Chemical
18-Sep 18-Sep 19-Sep 20-Sep 20-Sep 20-Sep 21-Sep 21-Sep 21-Sep 21-Sep 21-Sep 21-Sep 22-Sep 22-Sep 23-Sep 23-Sep 23-Sep 23-Sep 23-Sep 23-Sep 23-Sep 24-Sep 24-Sep
24-Sep 24-Sep 28-Sep 29-Sep 27-Sep 27-Sep 29-Sep 27-Sep 30-Sep 29-Sep 27-Sep 27-Sep 28-Sep 29-Sep 29-Sep 30-Sep 30-Sep 30-Sep 30-Sep 1-Oct 29-Sep 30-Sep 30-Sep
Sajjad Textile
213
0.07
0.55
0.32
0.32
0.32 -0.23
20000
4.19
0.16
-
-
-
-
Sally Textile
88
0.29
3.98
3.99
3.50
3.51 -0.47
1010
4.98
2.51
-
-
-
-
Sana Ind
55
5.39
36.45
37.25
35.56
36.13 -0.32
8254
38.00
27.25
35
-
60
-
1392
240.99
176.50
200
Service Ind
120
Shahpur Textile
140
1.63
1.24
1.66
0.80
1.17 -0.07
124041
2.26
0.25
-
-
-
-
86
1.00
15.50
15.50
15.50
15.50 0.00
11500
17.63
14.35
-
-
-
-
Suraj Cotton
180
1.54
33.00
34.50
34.00
34.49 1.49
2142
36.20
29.50
15
-
-
-
Thal Limited XD
256
5.22 103.25
14236
114.99
91.50
20
20B
20
-
Treet Corp
418
0.51
40.80
40.75
40.24
40.47 -0.33
12537
49.49
37.20
-
-
-
-
Yousuf Weaving
400
1.55
1.13
1.80
1.10
1.13 0.00
1.90
0.73
-
-
-
-
Shams Textile
4.94 190.19
194.00 185.00 192.00 1.81
105.99 103.99 105.48 2.23
507
-
-
-
PHARMA AND BIO TECH
INDUSTRIAL ENGINEERING High Low 1,420.23 1,402.37 Total cos Defaulter cos P/BV (x) ROE (%) 2.92 38.02
45619
Ravi Textile Reliance Weaving
Performance of SR Pharma and Bio Tech Index
Performance of SR Industrial Engineering Index Open 1,415.66 Turnover 94,497 P/E (x) 7.67
4050.2257B
Close 1,412.20 Listed cap 1,336.62 mn Payout (%) 131.49
Change -3.46 Market cap 31,212.62 mn Div Yield (%) 17.14
Open 816.72 Turnover 64,172 P/E (x) 6.09
% Change -0.24 5-Day High 1,424.09 5-Day Low 1,412.20 2010 Div BR (%) (%)
Paid up Cap(mn)
PE
Open
7.72
84.01
High
Low
88.21
84.00
Close 824.44 Listed cap 3,904.20 mn Payout (%) 44.54
Close Chg
Volume
88.13
4.12
39957
109.50 103.61 109.50
0.45
Change 7.71 Market cap 27,774.15 mn Div Yield (%) 7.31
% Change 0.94 5-Day High 824.44 5-Day Low 803.26
Last 60 days High Low
2009 Div BR (%) (%)
2010 Div BR (%) (%)
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
95.50
77.00
120
-
20
-
Bolan Casting 95 Dewan Auto Engineering 214
8.10 -
43.90 0.55
46.09 0.50
44.50 0.50
44.77 0.87 0.50 -0.05
13100 999
45.50 0.98
35.25 0.36
-
20B -
-
-
Ferozsons (Lab)
208
962
124.00
96.00
10
20B
-
-
GlaxoSmithKline
1707
12.31
69.15
68.95
67.25
68.17 -0.98
8153
85.89
65.40
50
-
-
-
Ghandhara Ind KSB Pumps
213 132
2.45 8.32
16.45 83.88
17.45 88.00
16.50 79.70
17.45 1.00 83.50 -0.38
41408 570
20.24 91.00
15.26 61.57
35
-
-
-
Highnoon (Lab)
165
6.58
23.99
24.20
23.80
24.20
205
25.79
22.10
25
-
-
-
Searle Pak
306
5.65
61.20
62.00
58.20
61.00 -0.20
61.98
53.36
15
15B
-
-
Millat Tractors
293
7.35 575.23
575.25 570.00 573.20 -2.03
38387
597.90
466.00
450
25B
650
25B
Wyeth Pak
142
1159.00
890.00
-
-
-
-
Company
2009 Div BR (%) (%)
Company
High Low 830.03 800.15 Total cos Defaulter cos P/BV (x) ROE (%) 1.36 22.31
Abbott (Lab)
979
9.50 109.05
- 899.35
0.21
940.00 940.00 940.00 40.65
14693 200
3.01
BOOK CLOSURES D/B/R
Spot AGM/Date
20(F) 8-Sep 1.0377 9-Sep 5(F) 10-Sep 100(F),20(B) 13-Sep 15(F) 13-Sep 50(F),20(B) 13-Sep 178(I) 13-Sep 20(I) 15-Sep 17 350(I) 15-Sep 100(F) 16-Sep 5 16-Sep
24-Sep 28-Sep 29-Sep 29-Sep 27-Sep 29-Sep 23-Sep 29-Sep 30-Sep 30-Sep 30-Sep 30-Sep 21-Oct 30-Sep 30-Sep
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols TRG Pakistan Ltd Murree Brewery Shezan International Pak Tobacco Shifa Int.Hosp Eye Television PIAC (A) AKD Capital Pace (Pak) Ltd Netsol Technol
Open 3.7 87 106 110.03 34.52 22.85 2.16 41.67 2.75 19.18
High 3.84 87.7 102 108.03 34.6 22.73 2.18 43.75 2.74 19.47
Low Close 3.55 85.5 102 108 33 22.01 2.06 41.12 2.6 18.71
3.78 87.7 102 108.01 33.02 22.5 2.11 43.75 2.67 19.19
Change 0.08 0.7 -4 -2.02 -1.5 -0.35 -0.05 2.08 -0.08 0.01
Vol 1033470 4447 297 500 4968 174 36907 13355 134254 302603
7
Saturday, September 18, 2010
NON LIFE INSURANCE Performance of SR Non Life Insurance Index
Open 1,108.76 Turnover 1,296,920 P/E (x) 6.02 Paid up Cap(mn)
Company
Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
37740 3000 8606 6175
High Low 1,121.75 1,087.26 Total cos Defaulter cos P/BV (x) ROE (%) 0.77 12.84
PE
Open
High
Low
Close Chg
9.08 -
18.99 2.28 2.54 4.25
19.20 2.39 2.55 4.39
18.66 2.14 2.46 4.02
19.07 2.25 2.48 4.19
0.08 -0.03 -0.06 -0.06
Close 1,110.71 Listed cap 50,077.79 mn Payout (%) 62.56
Change 1.94 Market cap 78,267.92 mn Div Yield (%) 10.39
Last 60 days High Low
Volume 1145512 3247 148151 305736
20.22 3.18 3.39 6.75
17.20 2.06 2.30 3.80
% Change 0.18 5-Day High 1,129.18 5-Day Low 1,074.04
2009 Div BR (%) (%) 15 -
-
2010 Div BR (%) (%) 17.5 -
-
ELECTRICITY Performance of SR Electricity Index Open 1,160.74 Turnover 12,310,289 P/E (x) 13.06 Paid up Cap(mn)
Company Altern Energy Genertech
High Low 1,167.56 1,141.18 Total cos Defaulter cos P/BV (x) ROE (%) 1.22 9.35
PE
Open
High
Low
3426 575.00
11.00
11.88
10.25
Close 1,150.69 Listed cap 95,369.29 mn Payout (%) 104.13
Close Chg
Volume
11.50
0.50
10102
12.50
0.94
0.00
3519
-
1.92
-
31R
- 7.8R
23.30
45
-
-
-
39.51
64.5
-
50
-
FINANCIAL SERVICES
10.56
8.60
-
-
-
-
11.05
9.25
-
-
-
-
Performance of SR Financial Services Index
23.48
20.00
20
-
-
-
3.69
2.21
-
-
-
-
2.07
2.05
2.05 -0.06
30003
2.63
23.00
23.97 -0.13
253471
27.80
Kot Addu Power
8803
7.25
42.50
42.20
41.71
41.92 -0.58
112484
44.85
Nishat Chunian Power Ltd 3673
-
10.45
10.65
10.50
10.51
0.06
1492010
3541 78.29
10.55
11.05
10.65
10.96
0.41
7667396
22.00 -0.24
1101
2.89
2.25
2.85
0.25
148437
Paid up Cap(mn)
Paid up Cap(mn)
Company Sui North Gas Sui South Gas
Close 1,372.22 Listed cap 12,202.80 mn Payout (%) 66.79
Change 41.80 Market cap 31,034.02 mn Div Yield (%) 6.69
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 17.02 6712 -
28.75 21.50
29.10 22.57
28.05 21.20
28.93 0.18 22.57 1.07
482858 1278382
30.00 22.00
% Change 3.14 5-Day High 1,372.22 5-Day Low 1,324.11
2009 Div BR (%) (%)
25.00 15.57
-
2010 Div BR (%) (%)
-
-
-
BANKS Performance of SR Banks Index Open 964.21 Turnover 8,223,356 P/E (x) 6.89 Paid up Cap(mn)
Company
PE
Open
High Low Close 972.32 948.55 962.94 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 0.93 13.45 34.35
High
Low
Close Chg
Change -1.27 Market cap 593,325.03 mn Div Yield (%) 4.99
Last 60 days High Low
Volume
% Change -0.13 5-Day High 965.55 5-Day Low 929.93
2009 Div BR (%) (%)
7821
5.67
52.00
52.50
51.11
52.50
0.50
45173
59.70
48.51
40
10B
20
-
Askari Bank
6427
6.18
14.78
15.20
14.42
14.95
0.17
398778
17.46
13.99
-
20B
-
-
Atlas Bank
5001
-
1.91
1.99
1.78
1.99
0.08
276
3.00
1.52
-
-
-
-
Bank Alfalah
13492 10.93
Bank AL-Habib
7322
6.58
8.26
8.24
8.15
30.30
31.00
30.10
8.20 -0.06 30.53
0.23 0.14
269732
10.25
7.32
8
-
-
-
62198
34.00
29.10
20
20B
-
-
Bank Of Khyber
5004
3.31
3.17
3.34
3.31
3.31
Bank Of Punjab
5288
-
8.78
8.88
8.55
8.74 -0.04
589838
BankIslami Pak
5280
-
2.98
3.28
3.00
3.14
6412
Faysal Bank
0.16
440
4.75
3.00
-
-
-
11.35
7.35
-
-
-
-
3.90
2.31
-
-
-
-
6091
3.24
14.26
14.34
13.80
14.04 -0.22
30210
15.95
12.75
-
-
-
-
10019
6.29
98.29
98.85
97.01
97.69 -0.60
83426
109.10
92.00
60
10B
-
-
Habib Metropolitan Bank 8732
5.92
20.00
20.00
19.66
20.00
0.00
10811
24.25
18.70
10
16B
-
-
-
2.14
2.11
2.03
2.11 -0.03
32924
3.00
2.00
-
-
-
66R
-
2.31
2.55
2.30
2.40
0.09
5512
4.40
2.03
-
26B
-
-
193.50 190.60 193.21
0.14
1036852 214.99
180.40
110
10B
55
-
0.50
8540
13.80
-
5B
-
-
Habib Bank Ltd JS Bank Ltd
6128
KASB Bank Ltd
9509
MCB Bank Ltd XD
7602
9.01 193.07
Meezan Bank
6983
7.26
Mybank Ltd
14.45
14.99
14.50
14.95
16.50
5304
-
2.26
2.25
2.13
2.15 -0.11
173520
3.28
1.62
-
-
-
-
National Bank
13455
5.57
66.82
66.70
65.92
66.33 -0.49
1320449
73.89
60.51
75
25B
-
-
NIB Bank
40437
-
2.75
2.84
2.56
2.76
425102
3.50
2.42
-
-
-
-
Royal Bank Ltd
17180
-
6.68
6.70
6.10
6.55 -0.13
5103
13.71
5.65
-
-
-
-
Samba Bank
14335
-
1.96
2.09
1.81
1.90 -0.06
27530
2.90
1.55
-
-
-63.46R
9003 12.18
Silkbank Ltd
0.01
2.70
2.75
2.51
2.68 -0.02
651917
3.30
2.15
-
-
-
-
6023
-
5.87
6.35
5.70
5.80 -0.07
6022
8.50
5.46
-
-
-
-
Stand Chart Bank
38716
9.51
6.85
7.19
6.50
6.66 -0.19
705
8.50
6.05
-
-
-
-
Summit Bank Ltd
5000
-
2.85
2.85
2.65
2.75 -0.10
6612
4.38
2.40
-
-
-
-
United Bank Ltd
12242
6.41
54.95
55.39
54.00
54.51 -0.44
60.20
52.85
25
10B
10
-
Soneri Bank
3031886
% Change 1.44 5-Day High 837.95 5-Day Low 793.57
High
Low
Close Chg
Volume
Last 60 days High Low
EFU Life Assurance XB
850 32.27
58.90
61.84
58.50
59.38 0.48
2322
85.45
51.25
5513.33B
-
-
New Jub Life Insurance
627 54.33
42.66
43.75
40.60
43.46 0.80
110
46.00
34.50
10
-
-
Open 373.30 Turnover 5,695,803 P/E (x) 0.46 Paid up Cap(mn)
Company
High Low 381.98 365.09 Total cos Defaulter cos P/BV (x) ROE (%) 0.17 37.22
PE
Open
High
Low
AMZ Ventures 225 Arif Habib Inv. XB 360 7.14 Arif Habib Limited 375 8.29 Arif Habib Securities 3750 2.29 First Credit & Invest Bank Ltd 650 7.57 Invest and Fin Sec 600 2.58 Invest Bank 2849 Ist Cap Securities 2878 Jah Siddiq Co 7633 15.29 JOV and CO 508 JS Global Cap 500 JS Investment 1000 13.49 KASB Securities 1000 Orix Leasing 821 Pervez Ahmed Sec 775 Stand Chart Leasing 978 5.61 Trust Inv Bank 586 -
0.66 15.20 32.56 22.22 3.00 7.13 0.73 4.01 10.64 3.36 38.37 6.18 4.00 5.45 1.71 2.48 2.50
0.79 15.95 33.45 23.33 2.66 8.12 1.00 4.00 10.64 3.36 40.00 6.15 3.99 5.90 1.73 2.94 2.50
0.64 15.00 32.05 22.20 2.61 7.16 0.60 3.81 10.37 3.21 36.50 6.00 3.61 5.15 1.66 2.47 2.50
2010 Div BR (%) (%)
Allied Bank Limited
20B -
Open
GAS WATER AND MULTIUTILITIES High Low 1,375.54 1,306.02 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 11.41
10 10 -
PE
Company
Performance of SR Gas Water and Multiutilities Index Open 1,330.42 Turnover 1,761,240 P/E (x) 9.98
Change 11.92 Market cap 8,875.15 mn Div Yield (%) 4.87
-
24.75
2.60
Close 837.95 Listed cap 2,290.72 mn Payout (%) 355.53
-
2.11
1.37
High Low 852.16 798.95 Total cos Defaulter cos P/BV (x) ROE (%) 2.81 3.85
-
24.10
1367
Open 826.03 Turnover 2,432 P/E (x) 73.04
2010 Div BR (%) (%)
0.70
-
10B 10B 8.7B 20B 20B -
LIFE INSURANCE
2.38
4.66
2010 Div BR (%) (%)
Performance of SR Life Insurance Index
-
1695
30 40 40 35 30 30 -
Close Chg 0.72 15.29 33.23 23.20 2.65 7.40 0.76 4.00 10.55 3.27 38.01 6.07 3.90 5.50 1.67 2.47 2.50
0.06 0.09 0.67 0.98 -0.35 0.27 0.03 -0.01 -0.09 -0.09 -0.36 -0.11 -0.10 0.05 -0.04 -0.01 0.00
Close 376.60 Listed cap 30,336.44 mn Payout (%) 4.60
Volume 16240 6575 71020 2663539 1500 3110 461 541 2629105 207144 23311 27670 14420 1957 18548 2013 10000
2009 Div BR (%) (%)
2010 Div BR (%) (%)
-
Change 3.30 Market cap 27,577.63 mn Div Yield (%) 10.03
% Change 0.88 5-Day High 378.34 5-Day Low 358.99
Last 60 days High Low
2009 Div BR (%) (%)
1.19 20.99 50.12 35.65 3.98 8.50 1.23 5.90 15.47 6.48 42.40 8.65 5.49 5.99 2.89 3.89 4.25
15 25B 30 - 11.5 - 10B -243.778B 10 150 -231.08R -
0.55 14.26 26.80 21.76 1.57 6.80 0.50 3.10 9.36 3.00 33.33 5.40 3.20 3.66 1.35 1.41 1.25
2010 Div BR (%) (%) 20B 20B -
EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index Open 995.42 Turnover 666,197 P/E (x) 6.19 Paid up Cap(mn)
Company
1st Fid Leasing AL-Meezan Mutual F. B F Modaraba Crescent St Modaraba Elite Cap Modaraba Equity Modaraba First Dawood Mutual F. Golden Arrow JS Growth Fund JS Value Fund Mod Al-Mali Nat Bank Modaraba Pak Prem Fund XD Pak Strat Fund Paramount Mod. XD PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund XD Prud Modaraba 1stSPOT Stand Chart Mod. SPOT
High Low 1,011.11 978.87 Total cos Defaulter cos P/BV (x) ROE (%) 0.25 4.09
PE
Open
High
Low
264 1375 2.59 68 5.07 200 1.81 113 4.07 524 8.77 581 760 1.40 3180 39.38 1186 184 250 7.06 1698 3.47 3000 5.08 59 2.76 1000 2.55 2835 2.37 2841 2.01 872 2.89 454 5.75
1.16 6.75 3.72 0.55 2.20 1.02 1.70 3.08 3.27 2.93 1.06 7.30 7.21 6.75 7.45 4.75 8.65 3.63 1.06 10.10
1.49 6.80 3.70 0.60 2.89 1.15 1.75 3.50 3.20 3.39 1.20 7.74 7.35 6.55 7.50 4.84 8.74 3.99 1.20 10.29
1.21 6.70 3.70 0.41 2.89 1.02 1.69 3.00 3.15 2.61 1.19 7.50 7.20 6.40 7.50 4.33 8.35 3.70 1.10 10.00
Close 1,000.53 Listed cap 29,771.58 mn Payout (%) 104.19
Change 5.11 Market cap 17,265.00 mn Div Yield (%) 29.60
% Change 0.51 5-Day High 1,000.74 5-Day Low 988.72
Close Chg
Volume
Last 60 days High Low
2009 Div BR (%) (%)
1.22 6.70 3.70 0.49 2.89 1.14 1.75 3.41 3.15 3.13 1.19 7.62 7.29 6.50 7.50 4.80 8.64 3.97 1.10 10.12
151 1001 4176 22208 326 237 5995 353612 5006 6004 105 1000 54386 12000 167 24014 98246 29734 10003 37600
2.23 7.25 4.00 0.90 3.59 1.68 2.09 3.45 4.39 3.98 1.75 8.45 9.86 8.10 8.68 6.49 10.55 5.00 1.20 10.99
4.5 10 15 16.5
0.06 -0.05 -0.02 -0.06 0.69 0.12 0.05 0.33 -0.12 0.20 0.13 0.32 0.08 -0.25 0.05 0.05 -0.01 0.34 0.04 0.02
1.01 6.35 3.25 0.16 1.60 0.76 1.00 2.32 2.70 2.31 0.56 6.10 7.20 6.01 6.55 4.00 7.60 3.50 0.70 8.25
2010 Div BR (%) (%)
- 18.5 5 10 - 18.6 - 11.53 5 20 10 3 17
Open
NBF DCM CENI KOSM QUET BUXL SIEM GATI KOHP FHAM LAKST ARM AGSML DLL AGTL FZTM IGIBL CICL MFFL PCAL CLOV BAPL GAMON FNEL CJPL SGMLPS PINL DIIL CWSM HUSI SALT TATM TOWL SANSM EXIDE PAKD RMPL FDIBL MZSM FCONM FPJM AGIC BROT DATM PRWM MSOT LPGL DSIL ZIL TSMF BILF JDMT UPFL MACFL BRR DEL DINT SMTM GFIL KML AABS TSML MLCFPS BIFO KASBM CSIL PIL IDSM IDYM KSTM SRSM STJT NCLNCP MFTM MUBT AGL RUPL TRPOL BAFS FRSM PMRS ADOS PSMC JOPP PIAB OTSU SITC BATA IBLHL GRAYS
% Change 0.70 5-Day High 640.39 5-Day Low 617.40
2009 Div BR (%) (%)
64.00 27.10 35.52 66.02 52.21 12.50 6.00 1.77
-
7932
Southern Electric
89.90 31.00 55.20 79.10 62.50 19.40 10.00 3.75
-
Kohinoor Energy
21.50
230072 3003 29122 92935 1643 110167 1780 27220
0.84 0.30 0.59 -0.49 -0.30 -0.12 -0.42 0.70
-
KESC
22.00
70.17 29.51 38.27 72.00 53.73 14.44 6.81 3.70
50
1.32
22.24
68.20 29.51 37.20 71.00 53.00 14.30 6.51 3.00
-
1.95
3.69
70.85 30.50 39.45 72.99 55.19 14.57 8.00 4.00
Last 60 days High Low
-
1.64
191
69.33 29.21 37.68 72.49 54.03 14.56 7.23 3.00
Volume
-
-
Sitara Energy Ltd
Adamjee Insurance 1237 12.76 Atlas Insurance 369 4.35 EFU General Insurance XB1250 30.37 IGI Insurance XD 718 12.72 New Jub Insurance 791 9.17 Pak Reinsurance 3000 Silver Star Insurance 253 1.69 Universal Insurance 210 -
Close Chg
-
1560
1015
Low
-
Japan Power
0.01
High
33.5
0.70 33.45
1.65
Open
Symbols
Change 4.48 Market cap 41,350.12 mn Div Yield (%) 7.74
0.51
1.37 34.00
7.51
PE
Close 640.39 Listed cap 11,111.34 mn Payout (%) 79.54
31.50
0.94 33.86
2739119
2009 Div BR (%) (%)
Paid up Cap(mn)
Company
High Low 650.34 628.05 Total cos Defaulter cos P/BV (x) ROE (%) 0.53 5.20
1.53
6.20
33.50 -0.36
% Change -0.87 5-Day High 1,173.71 5-Day Low 1,150.69
Open 635.90 Turnover 496,086 P/E (x) 10.28
37.24
198
Nishat Power Ltd
Change -10.06 Market cap 97,302.55 mn Div Yield (%) 7.97
Last 60 days High Low
11572
Hub Power XD
UPTO 100 VOLUME
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index
3.25 1.09 10.8 0.99 36.37 13.93 1131.83 44.05 5.75 6 199.99 15 6.25 43 213.99 354.14 1.79 51.03 72.85 52 35.17 11.89 1.94 10.75 1.03 5.5 9.49 17.09 1.2 9.5 23.9 18.28 19 14 139.55 114.98 1474 1.65 4.8 1.79 1.31 9.55 0.6 0.7 19.8 20.35 10 1.66 37.38 1.65 0.55 10.95 1020 2.94 1.19 2.31 28.75 6.47 1.13 2.35 93 32.9 7.07 32.98 1.36 5.7 2.19 4 234.39 0.8 1.49 17.15 20 1.05 1.21 23.46 31.85 0.51 51.44 16.9 37.37 19.9 77.5 7.18 9.78 29.62 120.5 490 7.48 61.9
High 3.42 1.04 11.35 0.99 34.56 12.93 1110 44 5.5 6 209.97 15 6.99 44.5 214.9 368 1.84 53 73.14 53.9 36.9 12.89 2.9 11.75 1.24 6.5 9.88 17.85 2.2 9.9 24.75 19.25 20 14 146.51 114.99 1474 1.65 5.2 2.34 1.64 10.5 1 0.9 20.4 21.34 10 1.7 38.8 2.35 1.2 11.95 1020 3.25 1.32 2.6 29.9 7.2 2.13 3.27 95 33.9 7.49 32 2 6.48 3.19 3.98 245.5 0.85 1.6 17.8 20.5 1.4 1.45 23.99 33.25 0.51 54 16.01 38.2 20.9 77.89 8.18 9.78 30.9 123.1 490 7.97 63.4
Low
Close
3 1.04 11 0.99 34.56 12.93 1103 42 5.5 6 191 15 6.95 43 211 336.5 1.84 51 69.21 53.8 36.9 10.89 0.98 9.75 0.75 4.52 9 17 0.8 9.9 24.75 19.25 20 14 146.51 114.9 1474 1.65 5.2 2.34 1.64 10.5 0.3 0.32 20 21.34 10 1.61 38.8 1.5 0.55 9.95 1020 2.7 1.2 2.05 29.23 7.2 1.51 2.16 94.5 33.9 7.48 32 2 6.48 3.19 3.98 245.5 0.85 1.6 17.8 20.5 1.4 1.45 23.99 33.25 0.51 54 16.01 38.2 20.9 77.89 8.18 9.78 30.9 123.1 490 7.97 63.4
3.42 1.04 11 0.99 34.56 12.93 1106.34 44 5.5 6 200.09 15 6.95 43.52 212.93 361.32 1.84 51.6 69.42 53.85 36.9 12 2.05 11.75 1.01 4.52 9.37 17.5 1.01 9.9 24.75 19.25 20 14 146.51 114.95 1474 1.65 5.2 2.34 1.64 10.5 0.58 0.44 20 21.34 10 1.67 38.8 1.89 0.87 11.95 1020 2.98 1.2 2.05 29.9 7.2 1.51 2.72 94.5 33.9 7.48 32 2 6.48 3.19 3.98 245.5 0.85 1.6 17.8 20.5 1.4 1.45 23.99 33.25 0.51 54 16.01 38.2 20.9 77.89 8.18 9.78 30.9 123.1 490 7.97 63.4
Change
Vol
0.17 -0.05 0.2 0 -1.81 -1 -25.49 -0.05 -0.25 0 0.1 0 0.7 0.52 -1.06 7.18 0.05 0.57 -3.43 1.85 1.73 0.11 0.11 1 -0.02 -0.98 -0.12 0.41 -0.19 0.4 0.85 0.97 1 0 6.96 -0.03 0 0 0.4 0.55 0.33 0.95 -0.02 -0.26 0.2 0.99 0 0.01 1.42 0.24 0.32 1 0 0.04 0.01 -0.26 1.15 0.73 0.38 0.37 1.5 1 0.41 -0.98 0.64 0.78 1 -0.02 11.11 0.05 0.11 0.65 0.5 0.35 0.24 0.53 1.4 0 2.56 -0.89 0.83 1 0.39 1 0 1.28 2.6 0 0.49 1.5
100 100 100 100 100 100 86 79 69 60 54 50 50 34 32 27 25 24 21 20 20 18 18 14 14 14 13 13 12 11 10 10 10 10 10 10 9 8 8 5 5 5 5 5 5 5 5 4 4 3 3 3 3 3 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS
-
Symbols
Open
DGKC-SEP NML-SEP NBP-SEP PPL-SEP PSO-SEP MCB-SEP POL-SEP ENGRO-SEP ANL-SEP AICL-SEP FFC-SEP LUCK-SEP PTC-SEP OGDC-SEP
25.23 46.69 66.84 172.14 257.52 193.15 235.28 173.97 10.7 69.34 105.75 71.24 19 144.63
High 25.6 49.02 66.89 173.5 263 193.65 238.19 176.5 10.8 70.99 105.75 71.55 19.05 145.75
Low
Close
24.85 46.56 66 169 255.5 190.6 234 172.5 10.5 69 105.75 71.34 18.9 144.1
25.32 49.02 66.5 172.91 262.04 193.36 237.83 176.05 10.55 70.34 105.75 71.5 19.05 145.47
Change 0.09 2.33 -0.34 0.77 4.52 0.21 2.55 2.08 -0.15 1 0 0.26 0.05 0.84
Vol 658500 552000 144000 143500 128500 124000 119500 111000 106500 35000 30000 21500 15000 6500
ZERO VOLUME Symbols
Open
High
Low
Close
ESBL
2.82
2.79
2.79
2.79
-0.03
0
RICL
6.62
6.5
6.5
6.5
Change -0.12
Vol 0
PPVC
2.73
2.52
2.52
2.52
-0.21
0
BOARD MEETINGS
Nishat Mills Ltd
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
Fair Value
*Arif Habib Ltd AKD Securities Ltd
9,914.05
MA (10-day)
9,889.86
Resistance 1
10,096.15
MA (100-day)
9,913.85
Resistance 2
10,139.40
Technical Analysis
MA (200-day)
9,875.36
Pivot
10,026.70
RSI (14-day) MA (10-day) MA (100-day)
TFD Research
74.2
63.59 45.48 47.42 54.47
cent below average and Bollinger Bands were 24 per cent narrower than MA (200-day) normal. As far as resistance level is concern, the market will see major 1st Index will continue to find its 1st support level at 9,983.50 and 2nd support level at 9,914.05.
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Buy
44.13
Buy
AKD Securities Ltd
63
Accumulate
TFD Research
36.85
Positive
TFD Research
* 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)
Leverage Position
48.61 25.74 25.25 27.74
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
182.55 4,618.51 22.86 25.23
* Target price for Dec-10 & **Net Open Interest in future market
ing oscillators are currently bullish on NML.
Trend forecasting oscillators are currently bullish on DGKC.
Pakistan Petroleum Ltd
Hub Power Co Ltd
Fair Value
Rs Recommendations
48
Buy
*Arif Habib Ltd
230
Buy
*Arif Habib Ltd
AKD Securities Ltd
46
Buy
TFD Research
239.15
Positive
AKD Securities Ltd
Fair Value
TFD Research
44.9
Rs Recommendations
Brokerage House
Positive
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
35.66 35.09 34.12 33.52
Fair Value
810.01 27,135.27 0.68 33.70
* Target price for Dec-10 & **Net Open Interest in future market
46.55 54.42 55.26 58.76
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
306.04 16,682.51 0.97 54.71
* 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)
64.29 208.61 195.18 194.64
playing a downward 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 UBL at a relatively equal pace. Trend fore-
Pakistan Telecommunication Co Ltd
Rs Recommendations
Brokerage House AKD Securities Ltd
64.64
Neutral
TFD Research
92.3
Positive
206.31 43,720.89 51.27 211.55
* 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)
55.74 64.17 66.58 73.14
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
Rs Recommendations
24.18
Buy
30.5
Positive
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
UBL is currently 7.2 per cent below its 200-day moving average and is dis-
Buy
78
TFD Research
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Brokerage House
Technical Outlook
Technical Outlook Technical Analysis
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Leverage Position
casting oscillators are currently bearish on UBL.
National Bank of Pakistan
*Arif Habib Ltd
Brokerage House
Technical Analysis
318.37 21,117.28 33.29 66.44
* 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)
55.96 18.50 19.18 19.46
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
584.63 11,148.99 7.97 18.98
* Target price for Dec-10 & **Net Open Interest in future market
HUBC closed down -0.36 at 33.50. Volume was 63 per cent above aver- PPL closed up 0.73 at 211.92. Volume was 103 per cent above average NBP closed down -0.49 at 66.33. Volume was 39 per cent below average PTC closed up 0.08 at 19.07. Volume was 50 per cent below average (conage and Bollinger Bands were 59 per cent wider than normal.
and Bollinger Bands were 4 per cent wider than normal.
and Bollinger Bands were 14 per cent narrower than normal.
solidating) and Bollinger Bands were 14 per cent narrower than normal.
HUBC is currently 0.1 per cent below its 200-day moving average and is PPL is currently 8.9 per cent above its 200-day moving average and is dis- NBP is currently 1.9 per cent above its 200-day moving average and is dis- PTC is currently 2.0 per cent below its 200-day moving average and is disdisplaying a downward trend. Volatility is extremely high when compared playing an upward trend. Volatility is extremely low when compared to the playing a downward trend. Volatility is high as compared to the average playing an upward trend. Volatility is extremely high when compared to the to the average volatility over the last 10 trading sessions. Volume indica- average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect volume average volatility over the last 10 trading sessions. Volume indicators tors reflect volume flowing into and out of HUBC at a relatively equal pace. reflect moderate flows of volume into PPL (mildly bullish). Trend forecast- flowing into and out of NBP at a relatively equal pace. Trend forecasting reflect volume flowing into and out of PTC at a relatively equal pace. Trend Trend forecasting oscillators are currently bearish on HUBC.
ing oscillators are currently bullish on PPL.
oscillators are currently bearish on NBP.
forecasting oscillators are currently bullish on PTC.
Date
Time
Golden Arrow Selected Stocks Ltd Attock Petroleum Ltd First Al-Noor Modaraba First Capital Mutual Fund Ghani Glass Ltd Island Textile Mills Ltd Salfi Textile Mills Ltd Tata Textile Mills Ltd Orix Leasing Pakistan Ltd Rupali Polyester Ltd Shield Corporation Ltd Mari Gas Company Ltd Shabbir Tiles & Ceramics Ltd Fauji Cement Co Ltd Sitara Chemical Industries Ltd Pakistan Oilfields Ltd (TFC) Saudi Pak Leasing Co Ltd Towellers Ltd
18-Sep 20-Sep 20-Sep 20-Sep 20-Sep 20-Sep 20-Sep 20-Sep 22-Sep 22-Sep 22-Sep 23-Sep 23-Sep 24-Sep 24-Sep 30-Sep 4-Oct 4-Oct
11:30 12:00 4:00 9:00 11:00 11:15 10:15 12:15 10:00 11:00 11:00 10:00 10:00 10:00 4:00 12:00 11:30 11:30
TECHNICAL LEVELS Company
Positive
NML closed up 2.33 at 48.95. Volume was 175 per cent above average DGKC closed up 0.07 at 25.30. Volume was 70 per cent above average UBL closed down -0.44 at 54.51. Volume was 294 per cent above average (trending) and Bollinger Bands were 22 per cent narrower than normal. and Bollinger Bands were 32 per cent narrower than normal. (trending) and Bollinger Bands were 42 per cent narrower than normal.
KSE 100 INDEX is currently 1.8 per cent above its 200-day moving NML is currently 10.1 per cent below its 200-day moving average and is DGKC is currently 8.8 per cent below its 200-day moving average and is average and is displaying an upward trend. Volatility is extremely low displaying an upward trend. Volatility is relatively normal as compared to displaying an upward trend. Volatility is relatively normal as compared to when compared to the average volatility over the last 10 trading sesthe average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators sions. Volume indicators reflect volume flowing into and out of INDEX at a relatively equal pace. Trend forecasting oscillators are currently reflect moderate flows of volume into NML (mildly bullish). Trend forecast- reflect volume flowing into and out of DGKC at a relatively equal pace. bullish on INDEX.
78.44
Technical Outlook
Technical Outlook 175.80 8,605.41 21.51 47.76
Rs Recommendations
AKD Securities Ltd
Technical Outlook Leverage Position
Fair Value 77
Positive
Support 2
Brokerage House *Arif Habib Ltd
Buy
10,017.45
Rs Recommendations Buy
61.46
MA (5-day)
Fair Value 44
*Arif Habib Ltd
9,983.50
resistance level at 10,096.15 and 2nd resistance level at 10,139.40, while
Brokerage House
Buy
Support 1
KSE 100 INDEX closed up 35.83 points at 10,052.97. Volume was 16 per
Rs Recommendations
65
58.54
United Bank Ltd
Dera Ghazi Khan Cement Co Ltd
Company
Adamjee Insurance Al-Abbas Cement Allied Bank Limited Arif Habib Limited Arif Habib Securities Askari Bank Attock Cement Attock Petroleum Attock Refinery Azgard Nine Bank Alfalah Bank Of Punjab BankIslami Pak D.G.K.Cement Dewan Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Fauji Cement Fauji Fert Bin Fauji Fertilizer Faysal Bank Habib Bank Ltd Hub Power ICI Pakistan Indus Motors JOV and CO Jah Siddiq Co Japan Power JS Bank Ltd KESC Kot Addu Power Lucky Cement Maple Leaf Cement MCB Bank Ltd National Bank Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat (Chunian) Nishat Mills Oil & Gas Dev. XD PIAC (A) PSO XD PTCLA PACE (Pakistan) Ltd. Pak Oilfields Pak Petroleum Pak Suzuki Pervez Ahmed Sec Pioneer Cement Shell Pakistan Sitara Peroxide Sui North Gas Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele
RSI 1st 2nd (14-day) Support 44.41 68.65 67.10 51.06 3.55 3.45 49.97 51.60 50.65 52.75 32.35 31.50 38.19 22.50 21.80 53.44 14.50 14.10 56.37 68.15 67.85 65.14 321.40 317.60 58.59 82.15 78.80 53.48 10.35 10.20 44.78 8.15 8.10 56.66 8.55 8.40 53.03 3.00 2.85 48.61 24.85 24.45 43.53 1.45 1.40 52.00 1.50 1.45 47.62 2.10 2.00 33.12 37.15 36.05 38.74 58.00 56.55 55.29 175.30 171.85 57.50 5.10 5.00 47.70 27.65 27.30 49.87 105.35 104.70 53.29 13.80 13.50 49.22 96.85 96.00 35.66 33.30 33.10 59.86 121.50 118.85 44.56 226.85 224.70 33.14 3.20 3.15 44.21 10.40 10.25 53.24 1.35 1.00 39.55 2.05 2.00 44.53 2.00 1.95 52.56 41.70 41.45 62.22 71.05 70.35 46.59 3.05 2.90 52.77 191.40 189.55 55.74 65.95 65.55 39.99 18.75 18.35 50.14 2.60 2.45 52.80 1.35 1.25 56.59 16.60 16.00 63.59 47.35 45.70 59.86 145.75 144.55 40.21 2.05 2.00 61.00 264.00 259.35 55.96 18.75 18.45 45.37 2.60 2.55 70.06 234.70 231.55 64.29 209.25 206.55 47.71 77.40 77.35 42.84 1.65 1.60 60.75 7.95 7.80 36.05 191.00 187.00 51.20 8.60 8.25 62.95 28.30 27.65 73.31 21.65 20.75 44.51 2.15 2.00 58.60 3.60 3.45 46.55 53.85 53.25 43.39 2.45 2.40
1st
2nd
Resistance 71.30 72.40 3.70 3.75 52.95 53.45 33.75 34.30 23.60 24.05 15.30 15.65 68.65 68.85 327.65 330.10 87.25 88.95 10.75 10.95 8.25 8.30 8.90 9.05 3.30 3.40 25.65 26.00 1.55 1.60 1.65 1.70 2.35 2.45 39.40 40.55 61.30 63.25 180.60 182.45 5.40 5.50 28.25 28.45 106.50 107.05 14.30 14.60 98.70 99.70 33.85 34.20 125.75 127.40 230.30 231.60 3.35 3.45 10.65 10.80 1.95 2.25 2.15 2.20 2.10 2.15 42.15 42.45 72.45 73.15 3.25 3.35 194.30 195.35 66.70 67.10 19.55 19.90 2.90 3.00 1.65 1.80 17.50 17.90 49.75 50.60 147.95 148.90 2.20 2.25 271.40 274.15 19.30 19.50 2.75 2.80 239.75 241.60 214.35 216.75 78.35 78.40 1.75 1.80 8.25 8.35 198.00 201.00 9.20 9.45 29.35 29.75 23.00 23.50 2.40 2.50 3.90 4.00 55.25 56.00 2.55 2.60
Pivot 69.75 3.60 52.05 32.90 22.90 14.85 68.35 323.85 83.85 10.60 8.20 8.70 3.15 25.25 1.50 1.55 2.25 38.30 59.90 177.15 5.25 27.90 105.90 14.05 97.85 33.65 123.10 228.15 3.30 10.50 1.65 2.10 2.05 41.95 71.75 3.15 192.45 66.30 19.10 2.70 1.50 16.95 48.15 146.75 2.10 266.75 19.00 2.65 236.55 211.65 77.90 1.70 8.05 194.00 8.85 28.70 22.10 2.25 3.70 54.65 2.50
8
Saturday, September 18, 2010
Jacksons’s mom sues his concert promoters
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MUMBAI: Indian Bollywood film actress Bipasha Basu poses at the Audi India show room in Mumbai.-Reuters
Aamirs new venture makes waves in Toronto
‘Dhobi Ghat’ comes out in good wash TORONTO: Bollywood icon Aamir Khan was "nervous" about his wife Kiran Rao's directing debut and shocked by her initial refusal to cast him in "Dhobi Ghat (Mumbai Diaries)," he said at its world premiere in Toronto. The film features Khan as brooding painter Arun who strikes up a flirtation with an American Indian woman named Shai (Monica Dogra) visiting her family in Mumbai with the city's sprawling laundry district, or dhobi ghat, as the backdrop. "When (Rao) told me she was writing a script I was very nervous," Khan said, "because I was thinking one of these days this script is going to be completed and I'll have to read it and what if I don't like it, it won't be a very comfortable situation." "I was feeling bad," he said. "I thought, I hope she doesn't complete the script." When it was finished, Khan pressed Rao to go visit his cousin and they would all read it together, hoping that if both he and his cousin disliked it "at least I'd have numbers on my side. "I was really quite terrified." But after reading it, Khan said he became "fascinated by what she had written." "It's so delicate and beautiful," he said. "Her characters speak in such a different and unique voice, and all of that hit me and I thought, 'Wow I married a really talented women here.'" "When I fell in love the first time, I didn't know how really talented she was. When I read the script I was really amazed and I fell in love with her again," he gushed.
Then, when Rao refused to cast him -- shock. Rao explained that she did not want to work with known actors. "She didn't want me in the film. I was most upset," Khan quipped. Of course, she would later relent, saying he "tricked" her into it with his "diabolical and Machiavellian" cunning and charms. "Actually, this character is so crabby and unpleasant and one morning she saw me in my usual crabby self, and she said, 'You know you're perfect for the role,'" Khan said. And so how was it to be directed by his wife? "I felt like I was at home," Khan quipped. "They're just the cutest together," commented Prateik Babbar, who earned a standing ovation at the premiere for his performance as Zohaib, a laundry man shared by Arun and Shai. The film is among a handful of Indian films screening at the Toronto film festival this year, as in years past. Its release comes just as Canada launches audiovisual co-production negotiations with India, hoping to boost its
film sector. Canada's Heritage Minister James Moore said last week that co-productions attract foreign investment and rake in 30 per cent more at the Canadian box office. Khan noted, however, that recognition at an international film festival does not help with distribution back home in India, only with foreign distribution. Receiving an audience award at the Toronto film festival or the Palme d'Or at Cannes, for example, is a "sure, sure way of telling (Indian) audiences not to go to a film," he said. Looks like another masterpiece has been created by Aamir Khan. At the Toronto International Film Festival, the premier of his production and his wife Kiran Rao's directorial debut 'Dhobi Ghaat' was showered with amazing response. It is reported that the international audience welcomed the film with open hands. Thrilled over it, Aamir quoted in his blog, "Thank you to all of you who came to the screening and for giving such a warm welcome to the Dhobi Ghat team. Thank you so much guys it was most overwhelming. We are having a great time at TIFF. And we are all most relieved that people seem to be liking the film." 'Dhobi Ghaat' was screened recently at the Elgin Garden Theatres, Toronto. It stars Aamir along with Pratik Babbar, Monica Dogra and Kriti Malhotra. Kiran Rao earlier had worked as an assistant to director Ashutosh Gowariker. It was on the sets of 'Lagaan' that Aamir met her. -Agencies
ate pop icon Michael Jackson's mother has filed suit against promotors of a concert series he was supposed to give in London in 2009, claiming they shared the blame for his death during rehearsals. Katherine Jackson filed the suit in Los Angeles Superior Court in her name and those of the singer's three children. The suit is for an unspecified amount in damages. She charged that the AEG group did not give her son appropriate medical care during rehearsals for the shows, and alleged negligence in allowing Dr. Conrad Murray to care exclusively for her son. A Los Angeles judge has set a January 2011 hearing to weigh whether there is sufficient evidence to prosecute Murray for involuntary manslaughter over the singer's death. The 57-year-old doctor, who was with Jackson when he died June 25, 2009, was charged with involuntary manslaughter in February this year, but is free on a 75,000 dollar bond. Officials have ruled that Jackson died after being injected with a powerful cocktail of sedatives and painkillers, including propofol, which the singer regularly requested from Murray to help him sleep. Jackson's death sent shockwaves around the world, and family and fans were outraged to learn that the man dubbed the King of Pop was administered a dangerous mix of powerful prescription drugs in the hours before his death. Murray, who was born in Grenada and grew up in Trinidad before moving to the United States, has denied the charges against him, which were filed after a painstaking seven-month probe involving local and federal investigators.
Bollywood’s Arjun rocks for his 2Q tax-king daughters B I
ollywood superstar Shah Rukh Khan is the number one tax payer from Bollywood for the second quarter of financial year 2011 by paying up Rs 5 crore to the IT department as against the Rs3.5 crore paid in the same quarter last year, reports a TV channel. Shah Rukh has replaced Bollywood action hero Akshay Kumar who managed to come a close second having paid Rs4.5 crore in Q2 of FY11 as well. He had paid Rs 4.5 crore in Q2 of FY10. The two (Kumar and Khan) are followed by Aamir Khan who shelled out Rs 4 crore as tax versus Rs 3.5 crore paid in the same quarter last year. The fourth spot was shared by bollywood actors Saif Ali Khan and Ranbir Kapoor who paid Rs 2.5 crore each as tax in the second quarter of FY11. However, the very actor Salman Khan paid only Rs2 crore compared to the Rs 2.5 crore in the same quarter last year. When it came to the actresses, bollywood beauty Katrina Kaif shelled out Rs 1.3 crore
versus Rs 1 crore paid in Q2 FY10 and tough competitor
Kareena Kapoor paid Rs 1 crore as tax as against Rs 80 lakh paid same quarter last year. Hritik Roshan paid a meager Rs 50 lakh as against the Rs 3 crore paid in second quarter of FY10 and Arbaaz Khan spent Rs 10 lakh as against Rs 50 lakh last year. While director Sanjay Leela Bansali spent Rs 50 lakh on tax in the second quarter as against Rs 25 lakh paid last year, Vishal Bharadwaj gave Rs 25 lakh versus Rs 15 lakh to the IT department.
Old ‘Big B’ bags best actor award
S
haji N Karun's Kutty Srank dominated the National Film Awards, winning five categories, including the top honour of being the best feature film of 2009. The best actor trophy went to Amitabh Bachhan for his portrayal of a child suffering from progeria in Paa and Aamir Khan-starrer 3 Idiots was declared the most popular film. Kutty Srank's production team won laurels as Anjuli Shukla, who shot the film, was declared the best cinematographer. She is perhaps the first woman cinematographer to win a national award. P F Mathews and Harikrishna won the best screenplay award and Jayakumar was adjudged the best costume designer for the movie. The film's editor Sreekar Prasad -- who also edited Kerala Varma Pazhassi Raja and Hindi film Kaminey - got special jury award.
The best actress award went to Ananya Chatterjee for her role in the film Abohoman, which also fetched best director award for Rituparno Ghosh. The film won the award for best editing as well. Bollywood's blockbuster 3 Idiots was chosen to be the best popular film, providing wholesome entertainment and Delhi 6 got the Nargis Dutt award for best feature film on national integration. Kannada film Putaani Party, directed by Ramchandra P N, shared the award for being the best children's film with Keshu in Malayalam.
nspired by his stint on stage doing Elvis Presley's 'Jailhouse Rock' in his new film, not to mention his role as a potential rock star in Rock On and galvanised by his daughters' enthusiasm for Arjun's live performances, the Rampal dude now plans to go on stage for a rock concert, hopefully with his Rock On team, if not then alone. Says Arjun, "I do have a craving to go live. And after Rock On I can play the guitar. My fan following as a rock star has already started. My two daughters love me performing on the dining table. " Arjun Rampal couldn't be in a happier place. And we mean on top of his dining table in his livingroom where you will often find Arjun these days on his two daughters' demands. His daughters want him to perform 'Jailhouse Rock' for them. And he happily obliges. "My parents were huge Elvis Presley fans. I grew up on Presley. So when I got a chance to dance to 'Jailhouse Rock' in my latest film I jumped at it, " says Arjun. Happily, so did Arjun's daughter. They now want Arjun to perform 'Jailhouse Rock' any time of the day. And wife Mehr is worried the dining table might give way. Chortles Arjun, "Not to worry. It's a sturdy table. It's not going anywhere. I picked up a lot of my emotions in We Are Family from the way I behave with my daughters.
MUMBAI: Indian Bollywood actress Sushmita Sen poses in a creation by designer Vikram Phadnis during a fashion show in Mumbai.
Renewing the Nooks
H
aving your dream home decor is the wish of each one of us, and most of us decide that it is only possible if we design our home according to our taste with the help of an architect. But is this the only possible solution? And is it always possible to build a house. Many times we have either a rented house or a house build by someone else without some bits matching our taste and others completing standing out. This section is explicitly about these small hindrances that come in our way. If you are stuck with odd nooks and corners in your home then these decorating tips is just the answer you require. Whether it is the empty space below a staircase or that unnecessary and protruding pillar in the living room, the solutions are right here. Read on and make the best use of these unused places in your home. Corridors Decorating corridors is more or less the problem of every household. The long empty passage way always seems to give us a boring feeling. But
just on the contrary, corridors are a very useful space in your house. So let’s see how to transform these corridors to something attractive and fun. The first thing one needs to remember when working on corridors is; this is one place of your house that is alive and active. People are always moving in and out of your corridors. So give your corridors a picture gallery look. You can
put paintings, family photographs and murals as wall decor. Add lamps at little distances to give a soft and dramatic look to your corridors. If you find this decorating tip not so appealing then how about adding some artifacts and flower arrangements complete with soft yellow lighting. If your corridor is wide enough, one can even go for a bookshelf. To complete the feel, put some heavy drapes at
the end of the corridor. This is give depth to your decoration. Staircases Staircases are always a problem. Most of the times, the space below the staircases are turned into a storage area giving a shabby appearance to your decor. If you really require a storage space, build a sliding cabinet with racks to store your brooms and shoes. This will give your space a neater look and at the same time give you adequate space to keep your stuff. If space is not a problem, then do something more creative with that empty space. You can put a wallpaper of scenery to give a feeling of depth. Go for some dim lighting, according to the theme of your wallpaper. One can also create a recreation corner below the staircase. Throw in some cushions, proper lighting and a potted plant or two and build a world of its own. If there is space, then put a small coffee table and chair and snuggle up with a book. Beanbags are also a great way to go for making a trend statement.
9
Saturday, September 18, 2010
Gold hits record above $1,280 on weak confidence Weak consumer data boosts gold as alternative asset NEW YORK: Gold hit a record high on Friday for the third time this week as poor US consumer data and market talk of more quantitative easing put the alternative asset on track for its largest weekly gain since May. Silver rose to just below $21 an ounce, approaching levels not seen since 1980 as gold's rally triggered further investor speculation that the white metal would continue a winning streak that began in August. Gold surged to an all-time peak of $1,282.75 an ounce in the European session on expectations that the US Federal Reserve, hoping to stave off double-dip recession, could announce more quantitative easing -- usually a boon for gold. After some profit-taking, the metal turned higher again after data showed consumer sentiment worsened in early September to its weakest in more than a year. Another report indicated little underlying US inflationary pressure.
Key Tokyo rubber edge up on yen
"Gold continues to reflect the overall level of concern. The weak consumer confidence data was certainly supportive to the rally in gold," said Frank McGhee, head of precious metals trading at Integrated Brokerage Services in Chicago. Spot gold fetched $1,275.55 an ounce at 1553 GMT, com-
pared with $1,272.20 late in New York on Thursday. It has gained more than $100, nearly 9 per cent, since the start of August. US December futures climbed $3.40 to $1,277.20 an ounce. Foreign-exchange volatility also boosted gold's appeal as an alternative currency, after Japan intervened on Wednesday to weaken the yen for the first time in six years and the United States sharpened its tone on China's cur-
rency policy. September and October are typically seasonally strong periods for jewelry demand, with a number of major goldbuying festivals near the yearend in top consumer India, while Western manufacturers stock up ahead of Christmas. Also lending background support this week was the long-expected announcement of AngloGold Ashanti's capital raising, a key function of which was to buy back its outstanding gold hedges. Eclipsing gold's rally, silver has gained more than 5 per cent this week, outperforming the yellow metal's 2.5 per cent increase. Spot silver was up 0.2 per cent at $20.77 an ounce from $20.72 in New York on Thursday. Spot platinum hit $1,630 an ounce, its highest since May 19. It rose to $1,621 from $1,603.65 on Thursday and palladium edged up to $546.50 an ounce from $544.65. -Reuters
Palm oil off 2-wk lows on corn support KUALA LUMPUR: Malaysian crude palm oil futures gained 1.2 per cent on Friday after touching a near two-week low earlier in the day as a surge in corn prices spread to other agriculture commodities. "Crude oil and soyoil showed a little strength today," said a trader in Singapore. "The market is expected to trade rangebound between 2,600 and 2,620 ringgit." The benchmark December crude palm oil contract on Bursa Malaysia Derivatives Exchange rose 31 ringgit to settle at 2,627 ringgit ($843.1) per tonne after falling to 2,598 ringgit -- a level unseen since Sept. 6. Traded volumes almost doubled to 19,046 lots of 25 tonnes
European vegetable oil prices ROTTERDAM: The following were the Friday's Rotterdam vegetable oil price's at 21:00 PST. SOYOIL: EU degummed euro tonne fob exmill Oct10 786.00, Nov10/Dec10 785.00, Jan11/Mar11 791.00, Apr11/Jun11 778.00. RAPEOIL: Dutch/EU euro tonne fob exmill Nov10/Jan11 788.00+6.00, Feb11/Apr11 797.00+7.00, May11/Jul11 800.00+5.00. SUNOIL: EU dlrs tonne extank six ports option Oct10/Dec10 1130.00+20.00, Jan11/Mar11 1135.00+20.00, Apr11/Jun11 1150.00+25.00. LINOIL: Any origin dlrs tonne extank Rotterdam Sep10/Oct10 1252.50-2.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Sep10 910.00+15.00, Oct10 910.00+15.00, Nov10 900.00+10.00, Dec10 890.00+10.00, Jan11/Mar11 890.00+15.00, Apr11/Jun11 890.00. PALMOIL: RBD dlrs tonne cif Rotterdam Nov10/Dec10 925.00. PALMOIL: RBD dlrs tonne fob Malaysia Nov10/Dec10 877.50. PALM OLEIN: RBD dlrs tonne fob Malaysia Nov10/Dec10 885.00, Jan11/Mar11 877.50, Apr11/Jun11 877.50. PALM STEARIN: Dlrs tonne fob Malaysia Oct10 885.00, Nov10 875.00. PALM FATTY ACID DISTILLATE: Dlrs tonne fob Malaysia Oct10 675.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Oct10/Nov10 1240.00+5.00, Nov10/Dec10 1240.00+5.00, Dec10/Jan11 1240.00+5.00. PALMKERNEL OIL: Mal/Indon dlrs tonne cif Rotterdam Sep10/Oct10 1242.50+7.50, Oct10/Nov10 1240.00+10.00, Nov10/Dec10 1235.00+5.00, Dec10/Jan11 1235.00+5.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Oct10/Nov10 2020.00+0.00. Reuters
each. Crude oil also supported US soyoil for October delivery, which rose 1.3 per cent. In China, the most active May soyoil contract on Dalian Commodity Exchange inched up in light trading. In Indonesia, Jakarta-based PT KBN Nusantara, formerly known as the state marketing centre, sold 7,500 tonnes of crude palm oil at a top price of 8,023 rupiah ($0.894) per kg in an auction on Friday. The center did not hold any auction on Thursday. Refiners in Jakarta sold refined, bleached, deodorised (RBD) palm olein -- used as cooking oil -- at 8,650 rupiah per LONDON: Raw sugar and kg, compare with 8,600 rupiah cocoa futures rose on Friday, boosted by broad-based gains the previous day. -Reuters in financial markets and optimism over consumer demand, with sugar expected to breach the psychological 25 cents a lb level. Arabica coffee futures on ICE were lower as analysts preHAMBURG: European bench- highs in early August, almost dicted the recent rally was not mark milling wheat futures in doubling from June lows, after sustainable. Paris raced to a new contract the Russian ban. But Paris Raw sugar prices were higher high in early trade on Friday on slipped back from the highs as with dry weather in Brazil the back of strong rises in US traders said the market still remaining a key supportive grains and other commodity lacked momentum to hold above influence. markets but pared gains in later levels seen last month. "Demand conditions remain trade. Maize futures on Euronext positive and the tightness in US grains futures surged on also rose to contract highs. nearer term supplies remains Friday on continued concern November maize was up 4.00 (along) with concerns on the about global harvest losses. euros or 1.9 per cent at 210.75 impact of dry weather in The Paris Euronext market euros at 1617 GMT, after setting Brazil," Barclays Capital said shot up in opening deals on the a contract high at 213.00 euros. in a daily report. back of gains in US grains and Poor weather has also hit A London-based sugar dealer other commodity markets Europe's maize crop, adding to said he believed a breach above fuelled by a slide in the dollar. concern about tight global sup- the key psychological 25.00 Paris' benchmark November plies. Germany's market also cents a lb level was inevitable. milling wheat was up 4.50 euros rose in response to the Paris and "Someone is going to have a or 1.9 per cent at 233.25 euros US rises coupled with continued go at it," the dealer said. ICE October raw sugar per tonne by 1617 GMT, after indications that much of hitting a contract high of 238.00 Germany's crop will only reach futures were up 0.22 cents, or 1 euros in early trade. animal feed quality this summer. per cent, at 24.70 cents a lb at This surpassed a peak of 236 London November feed wheat 1532 GMT. "While we continue to expect euros set on Aug. 5 when Russia rose 3.25 pounds to 165.50 first announced its ban on grain pounds a tonne, moving within a supply increase in the coming exports after drought devastated striking distance of its contract harvest in response to recent its crop. high of 169.00 pounds set on high prices, adverse weather over the past months points to Grains futures rose to two-year August 5. -Reuters lower than previously expected production for both Brazil, the largest producer and exporter, and Australia, the third largest exporter," Goldman Sachs said in a report. London December white sugar was up $5.70 or 0.9 per NEW YORK: Cotton futures came to 17,540 lots at 1851 cotton sales hit 844,200 run- cent at $613.90 per tonne. settled on Thursday at a new GMT, 26.02 per cent above ning bales (RBs, 500 lbs ICE arabica coffee futures 15-year high on all-around each), sharply above the slipped, unable to hold onto NY cotton mid-day investment fund and mill Investors piling into a hot cotton market has 154,200 RBs in last week's gains which pushed the market buying, with most players catapulted open interest up 50 per cent as report. to a more than 13-year high last expecting fiber contracts to prices hit their highest level since 1995, Total open interest in the week. December arabica hit the psychological $1/lb exchange data showed on Friday. The bench- cotton market stood at futures fell 2.9 cents or 1.5 per line in coming days, bro- mark ICE Futures US key December cotton 229,876 lots as of Sept. 15, cent to $1.8890 per lb. contract hit a 15-year high at 97.80 cents per lb, from the prior tally of Robusta coffee futures on kers said. having risen almost 25 per cent since July. The key ICE Futures US 230,714 lots, exchange data Liffe rose with November up $16 or 1 per cent at $1,660 a December cotton contract the 30-day average of 13,918 showed. climbed 2.14 cents to close at lots, preliminary Thomson Broker Flanagan Trading tonne. Cocoa prices steadied 95.76 cents per lb, marking Reuters data showed. Corp. sees resistance for after falling to the lowest levels the highest finish for the "It's basically spec and fund December futures at 96.25 in more than one year earlier benchmark second position buying," Keith Brown, presi- and 97.45 cents, with support this week. Liffe December cocoa was 2 contract since 1995 -- the only dent of commodity firm Keith at 95.10 and 94.15 cents. time cotton futures have trad- Brown and Co. in Moultrie, Total volume traded on pounds or 0.1 per cent higher at ed over $1. Georgia, said, adding mer- Wednesday hit 23,178 lots, 1,888 pounds a tonne. ICE December traded between chants and mills had also from the prior 21,556 lots, December cocoa was up $15 or 93.50 and 96.49 cents. piled in. ICE Futures US data showed. 0.5 per cent at $2,753 per tonne. -Reuters Total cotton volume traded The USDA said total US -Reuters
TOKYO: The key Tokyo rubber futures contract ended slightly higher on Friday as yen weakness against the dollar lent support to the market but concerns over increasing supply and higher inventories in Shanghai left investors wary. The key Tokyo Commodity Exchange rubber contract for February delivery settled at 296.5 yen per kg, up 1.3 per cent, or 3.7 yen. The contract was up around 2 per cent on the week. The September contract which expires next week was down 3.5 yen or 1.2 per cent at 286 yen. Oil rebounded on Friday, spurred by rising Asian equities, but was still headed for its biggest weekly drop in a month as Enbridge prepared to resume flows through its largest Canada-US pipeline within hours. The dollar hit a five-week low against a basket of currencies on Friday, hurt by growing talk of more quantitative easing from the Federal Reserve. Rubber inventories in warehouses monitored by the Shanghai Futures Exchange rose 8.7 per cent from a week earlier, the exchange said on Friday. Malaysian private equity firm Navis Capital Partners said on Friday it had sold Malaysia-based rubber products maker Linatex to British engineering firm Weir Group Plc for $200 million. General Motors aims to sell at least 10 to 15 per cent more vehicles in China next year, as growth in the world's biggest auto market is expected to return to a more rational trend after breakneck expansion, its China chief said. -Reuters
EU wheat hits new high, pares gains later
NY cotton at new 15-yr peak, targets $1/lb
Sugar probes 25 cents/lb, coffee slips
LIMA - PERU: Farmer Maura Vargas harvests potatoes that have been grown with water from tankers and fog nets, in the hillside of Villa Maria Del Triunfo shantytown, in Lima. -Reuters
Oil slips on US data, pipeline reopening NEW YORK: Oil fell a fourth session, to below $74 a barrel on Friday after US consumer confidence data showed a surprise slip and investors anticipated the reopening of a major crude pipeline into the United States. US consumer sentiment unexpectedly worsened in early September to its weakest level in more than a year, as distress over jobs and finances intensified among upperincome families, a survey showed.
Wednesday. "This major oil pipeline will be back in operation today," Carsten Fritsch at Commerzbank said. "We expect oil prices to come under pressure in the coming days." US crude prices have traded range bound this year but spiked to a one-month high after last week's closure of Enbridge Line 6A that brings Canadian crude to US Midwest refineries and the crucial Cushing, Oklahoma, oil hub.
The oil market has spent much of the year in lock-step with equities and US stocks seesawed as the report on consumer sentiment weighed on Wall Street. The dollar rallied against the euro and the yen as the US consumer data eased risk appetite, and currency markets braced for possible intervention by the Bank of Japan. US crude for October delivery fell $1.19, or 1.6 per cent, to $73.38 per barrel at 1608 GMT, trading from $73.16 to $75.25. The October contract expires on Tuesday. US November crude fell $1.11, or 1.47 per cent, to $74.63 a barrel. ICE Brent for November fell $1.04 to $77.44. October Brent expired on
Line 6A is the main artery of Enbridge's Lakehead Pipeline System. Oil prices fell despite the potential impact from Hurricane Karl as the storm closed in for a second hit on the Mexican coast. State-run oil giant Pemex evacuated platforms and halted production at 14 minor wells, the company said in a statement that did not detail how those measures would disrupt production. With OPEC set to meet Oct. 14 to consider member production levels and market share, Russian Prime Minister Vladimer Putin on Friday said his country, the world's biggest oil producer, will work more closely with the producer group. -Reuters
Indian wheat edges higher MUMBAI: India's wheat futures ended slightly higher on Friday due to some buying interest at lower levels, analysts said. Expectation of bumper crop and the government's stock release plan, however, restricted the gains. "Wheat is trading in a very narrow range. Some buying interest is supporting wheat futures at lower levels but prices are unlikely to sustain as overall fundamentals are bearish," said Sudha R. Acharya, analyst at Kotak Commodities Services Ltd. October wheat on the National Commodity and Derivatives Exchange (NCDEX) edged up 0.11 per cent to end at 1,225.2 rupees per 100 kg. The contract has fallen 1.16 per cent this week. India has no immediate plan to allow wheat exports by the private sector, the farm minister said on Friday. India's wheat harvest in 2011 is seen at 82 million tonnes, Farm Secretary P.K. Basu said on Friday, up from this year's 80.71 million tonnes. This is likely to weigh down international prices of the food grain. The Indian government will free 2.5 million tonnes of grains from its stocks for sale to states, Farm Minister Sharad Pawar had said earlier. India, which curbed grain exports in recent years to head off domestic price rises, made some concessions to export to neighbouring Bangladesh recently after some global suppliers cancelled deals to ship Black Sea wheat since Russia curbed grain exports. -Reuters
Copper firm, but retreats from 4-1/2-mth high LONDON: Copper held firm on Friday after hitting a 4-1/2 month high, as reassuring comments from China's central bank on monetary policy and falling inventories boosted prices of industrial metals. Benchmark copper on the London Metal Exchange ended at $7,720 a tonne from $7,700 at the close on Thursday. The metal used in power and construction earlier hit $7,810, its highest level since April 26. The People's Bank of China warned of mounting bad debt as the country's structural reforms accelerate. But it reaffirmed its appropriately loose monetary policy stance and said it would deploy various fiscal and monetary tools to manage inflationary expectations. "Pretty impressive rise," said David Wilson, director of metals research at Societe Generale, adding that the Chinese central bank announcement's had been taken as good news. "If there is not tightening up, there will still be some lending...it's just a sentiment issue." China is the world's top metals consumer and a major rea-
son for copper's 140 per cent gains last year. On Thursday, India's central bank raised interest rates by more than expected, extending its fight against inflation, raising speculation that China may
Shanghai copper strengthens Shanghai copper futures rose more than 1 per cent on Friday, while London reversed early losses to turn positive, after reassuring comments from China's central bank about its plans to keep monetary policy loose. By 0357 GMT three-month copper on the London Metal Exchange rose to $7,715 a tonne from Thursday's close at $7,700. Benchmark thirdmonth Shanghai copper rose 0.8 per cent to 59,540 yuan. have to do the same. A trend of falling LME inventories has helped support metal prices in recent months. Latest
LME data showed copper stocks slipped 2,950 tonnes to 384,200 tonnes, having fallen from 6-1/2 year highs at 555,075 tonnes in mid-February. Aluminium was untraded at the close but bid at $2,180 a tonne from a last bid at $2,165 on Thursday. LME stocks for the metal, used in transport and packaging, fell 3,975 tonnes to 4.39 million tonnes. A large portion of those aluminium stocks are tied up in finance deals. Steel-making ingredient nickel was last bid at $23,200 from $23,250, after earlier hitting a 4-month peak at $23,570. Battery material lead ended at $2,202.5 a tonne from $2,202, having earlier touched its highest level since April at $2,258.50 a tonne. Zinc ended at $2,151 a tonne from $2,148 and tin at $23,600 from $23,495, after earlier touching a two-year high at $23,800. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for September 16 2010 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash Buyer
1240
1160
March (3rd Wednesday)
1240
1090
April (3rd Wednesday)
1240
1090
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for September 16 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
2234 2235 2150 2160 2075 2085 2075 2085
2131 2132 2167 2167.5 2243 2248 2310 2315
7669 2191 7670 2191.5 7684 2221 7685 2223 7630 2243 7640 2248 7395 2223 7405 2228
23250 23255 23275 23300 22775 22875 21875 21975
TIN
ZINC NASAAC
23275 2132 23325 2132.5 23300 2155 23350 2156 22925 2218 22975 2223 2218 2223
2110 2111 2120 2130 2120 2130 2170 2180
10
Saturday, September 18, 2010
Pedrosa extends Honda deal to 2012 MADRID: Dani Pedrosa has agreed a two-year contract extension that will keep him at Honda until 2012. "This has been the team of my dreams since I was a kid and that's still the same feeling I have now," the Spanish rider told www.motogp.com on Thursday. "Our goal of course is to fight for victories every weekend and to win the MotoGP world championship. I believe we have what it takes to do both of those things." The 24-year-old Pedrosa has won three world titles in the 250cc and 125cc categories, and has 12 Grand Prix wins at the top level. The MotoGP championship resumes in Aragon, Spain on Friday with Pedrosa lying second behind compatriot Jorge Lorenzo in the series.-Reuters
Djokovic out of Davis Cup match LONDON: Novak Djokovic has pulled out of Serbia's opening Davis Cup semi-final match against the Czech Republic because of gastroenteritis, an ITF spokeswoman said on Friday. "He does not play the first match. He is sick. He has gastro-enteritis," Barbara Travers told Reuters in Lyon, where France play Argentina in the other world group semi-final tie. World number two Djokovic, who was due to play Radek Stepanek, will be replaced by Viktor Troicki. Djokovic said on Thursday he was "exhausted" after travelling back from the US Open, where he lost to Spain's Rafael Nadal in the final. In Friday's second match, Janko Tipsarevic will face Tomas Berdych.-Reuters
LONDON: Fawad Alam hits out watched by England’s Steven Davies during the third one-day international cricket match at the Oval cricket ground.-Reuters
Pak offers Eng a 242 runs chase LONDON: Despite all the hardships Pakistan somehow managed to place a respectable total in front of England, offering them to chase on a good wicket at Oval in the third ODI of Natwest series. Fawad Alam anchored Pakistan's innings with a tenacious 64, having rescued his side from a precarious scoreline of 31 for 3, but England's bid for a sixth series victory of the summer got off to a promising start as they restricted Pakistan to 241 in the third ODI at The Oval. James Anderson was the star of England's show with a eye-opening display of attacking seam bowling - as opposed to the swing-based method that has earned him his rewards to date this summer. He claimed 3 for 26 in ten exemplary overs, to spearhead a bowling effort that never allowed a free-spirited batting order to flourish. Pakistan's return to The Oval, the scene of a memorable victory in last month's third Test against England, began promisingly as Shahid Afridi won the toss and chose to bat first on a chilly but bright afternoon in South London. But Anderson
took little time to prove a menace on a pitch with decent bounce, as he jagged the ball this way and that while attacking the top of off stump before snagging the outside edge of a limp poke from Mohammad Hafeez with the final ball of his opening over. Four balls later, and Tim Bresnan was in on the act as well. Kamran Akmal had topscored in each of Pakistan's first two innings of the series, but this time he was sawn off before he could find his range. A slightly leg-sided delivery hit the underside of his thigh-pad and deflected unluckily back onto his stumps, and he was on his way for 5. At 8 for 2 after 2.4 overs, Pakistan's performance was heading down the pan. Mohammad Yousuf was a reassuring figure to pitch into the fray, but even he had no long-term answer for Anderson's waspish line of attack. He announced his intentions with an easy-as-you-like square drive for four, before Anderson nailed him with a nip-backer that replays showed would have trimmed the top of the bails.-Agencies
Mourinho rules out Portugal coaching MADRID: Jose Mourinho will not accept an offer to take temporary charge of the struggling Portuguese national team for next month's Euro 2012 qualifiers, the Real Madrid coach said Friday. Mourinho was approached by Portugal's football federation (FPF) and asked if he would take over for the qualifiers at home to Denmark on October 8 and away to Iceland four days later. He told a news conference at Real's training ground on
Friday he was unable to accept the offer as he believed his club would not have reacted positively to his absence. "For personal pride and passion for Portugal I couldn't say no but I can't say yes either," Mourinho said. "My sense is that in the Real Madrid world it would have been interpreted negatively," he added. "There would have to be total agreement and I don't think that's going to happen.
Real Madrid has every right to make the decision they have. For me the issue is finished." Portugal sacked Carlos Queiroz this month after he was suspended for six months for insulting anti-doping agents before the World Cup and have yet to name a replacement. They have had a poor start to their qualifying campaign, with a 4-4 home draw against Cyprus and a 1-0 defeat in Norway.-Reuters
ICC rebukes Kiwi umpire over no-ball comments ISLAMABAD: Cricket's governing body, the International Cricket Council (ICC) has reprimanded New Zealand umpire Tony Hill for publicly stating about the alleged spotfixing scam, surrounding Pakistan-England test at Lords, according to a report. "The ICC has told him not to comment further until the investigation into the matter has been completed," Radio New Zealand reported on Friday. In a recent to interview to newspapers 'The Dominion Post' Hill had said he didn't suspect spot-fixing when Mohammad Asif and Mohammad Aamer bowled the no balls but thought the duo deliberately did so to unsettle England batsman Jonathan Trott. He said he and his colleague Billy Bowden had discussed the no-ball bowled by Aamir. "We never suspected a thing. There had been the big overstep in particular and in our minds that was more a deliberate overstep to have a go at Trott, who had been batting so well," Hill said.-Reuters
Spot-fixing file on UK prosecutors' desk LONDON: British police have sent to prosecutors their initial findings in an investigation into allegations of spot-fixing by Pakistani cricketers during a test match against England last month, the police said on Friday. London police have interviewed Salman Butt, Mohammad Asif, Mohammad Amir and Wahab Riaz over claims they fixed certain incidents, such as the bowling of noballs at predetermined times, during the fourth test at Lord's. "The Metropolitan Police service today 17th September has delivered an initial file of evidence relating to conspiring to defraud bookmakers to the Crown Prosecution Service (CPS)," police said in a statement. "The file will now be subject to CPS consideration. This is an initial file and an MPS investigation continues," it added. A CPS spokesman said it would wait for all the evidence before deciding whether to take further action.-Reuters
Tiger to go out all guns blazing LONDON: Tiger Woods will go out with all guns blazing at next month's Ryder Cup to try to make amends for a mediocre season, triple major champion Padraig Harrington said on Friday. The world number one has had a troubled year on and off the course and is still waiting for his first tournament victory of 2010. "The Ryder Cup could be the pinnacle of his year, like it could be for me," said Harrington of his fellow wildcard pick. "He will be in a fighting mood for the week, in a mood to perform. "At the last one in 2008 I was a bit burned out ... but
going into this one Tiger's not going to be that way and I'm not going to be that way," said the Irishman in a
a lot of his goals this year and he's probably thinking, 'I want to play well to make it a successful year'."
conference call with reporters. "He's not coming into this Ryder Cup having achieved
Neither player qualified automatically for the Oct 13 match at Celtic Manor in Wales. Harrington relied on
a wildcard selection from European captain Colin Montgomerie and Woods was chosen by US skipper Corey Pavin. Asked whether he would have picked Woods, the Irishman replied; "Yes, 100 percent, absolutely -- he is the number one golfer in the world and he's been showing good form of late. "He has a presence and intimidation factor. Matchplay will suit him. "I think he's going to be strong enough to stand up on the tee box against anybody. Certainly no bookmaker will make him a longshot in his singles match." SPECIAL CIRCUM-
STANCES Harrington, who won the British Open in 2007 and 2008 and the US PGA Championship two years ago, said Woods had often found it hard to come to terms with the special circumstances surrounding a Ryder Cup. "In previous Ryder Cups Tiger has struggled with the structure of the event," said the 39-year-old Dubliner who has gone two years without a victory. "Playing a practice round at 11 olock in the morning, I don't think he's ever done that in his life. Normally he's out at 6 o'clock and by 11 he's out of there and off the golf course.-Reuters
International & Continuation
Saturday, September 18, 2010
ECB officials point to need to act on banks VIENNA: Governments have more to do to pull banks off state support, one European Central Bank policymaker said on Friday, and another warned that emergency cash supplies would not last forever ECB Governing Council member Ewald Nowotny told reporters at a trade union conference that government action was needed to wean banks off the cheap cash the ECB has provided since late 2008. That added to the impression that the fate of some euro zone banks -- particularly in Ireland and Portugal -- is now back at the forefront of investors' and policymakers' concerns, even after the agreeing of new stricter rules on capital last week. Axel Weber, the head of Germany's Bundesbank and another ECB council member, said there was still work to be done on making sure no banks were so big they could not be allowed to fail in future and said regulation would have to reviewed regularly. "The financial crisis is still with us. We are not in year one
after the crisis, we are in year four of the crisis," Weber said in a speech at the European Business School. "Moral hazard is present in the financial system ... I want to get to a situation where the term 'too big to fail' does not exist. Banks have to be able to fail, but it must be able to happen in an orderly way." Another ECB policymaker, Yves Mersch, was quoted as telling Frankfurter Allgemeine Zeitung that the ECB would tread carefully in removing support, but banks should not count on unlimited cash for ever. "We are implementing our exit cautiously and are accompanying the normalisation in individual market segments," he told the newspaper. "However, the peak of nonconventional measures is now definitely behind us." "I see no need to hold onto full allotment (of funds at central bank auctions) in the 'new normality'. Short-term rates can be very easily controlled via competitive tenders." And Nowotny said: "There is an obvious problem of so-
called addicted banks. This is a problem that has to be solved primarily by the governments." Ireland has taken a hammering on markets -- and pushed out the yield spreads of other countries perceived as at risk - over the growing cost of bailing out its banks, crippled by the collapse of its property boom. Ireland's finance ministry and the International Monetary Fund sought to calm markets on Friday after a newspaper report on the possibility of a bailout spooked investors. Although markets are pricing in an eventual sovereign default by Greece, "a sovereign default in the euro zone will not happen ... A lot of money has been put on the table (by governments) but it comes with strong conditionality," Weber said. "Greece has to stay an absolute exception," he added, referring to the European Union/International Monetary Fund aid package Greece received to solve its debt problems, which were covered up until late last year. -Reuters
Delay austerity if growth stays weak: OECD VIENNA: The world economy is proving weaker than expected in the second half and countries should consider pushing back austerity measures if that weakness persists, the OECD's Secretary General said on Friday. "We had forecast a weakening of the recovery in the second half," the OECD's Angel Gurria told reporters on the sidelines of a conference in Vienna. "The question was how weak was it going to be. And I have to say I think it's been weaker than we thought." "In the short term the weakness can be dealt with with the prolongation of some of the monetary accommodation in some countries," Gurria added. "But if we see that there is a permanence of the weakness perhaps then one can delay the entry into force of the measures of fiscal consolidation," he said.-Reuters
US consumer prices rise, but underlying trend flat WASHINGTON: Underlying US inflation pressures were muted in August, keeping deflation fears alive, even though a rise in food and energy costs drove overall consumer prices higher. The core consumer price index was flat last month, the Labor Department said on Friday, defying financial market expectations of a 0.1 per cent gain. The core CPI, which excludes food and energy prices, rose 0.1 per cent in July. While the report strengthened the Federal Reserve's bias toward further monetary easing, the data was not so weak that the US central bank is expected to
announce new steps to ease monetary policy when it meets on Tuesday to assess the economy, analysts said. "It keeps alive the possibility that the trend could turn negative over the next year or two, but the numbers are not weak enough to encourage them to start a new purchasing program next week," said Jim O'Sullivan, chief economist at MF Global in New York. The overall CPI rose 0.3 per cent, lifted by higher food and energy costs, after a similar gain in July. August's rise was a touch above expectations of a 0.2 per cent increase. Another report showed consumer sentiment unexpectedly
worsened in early September to its weakest level in more than a year. The Thomson Reuters University of Michigan's preliminary September reading on consumer sentiment came in at 66.6, down from 68.9 in August. US government bond prices rose as some investors viewed the flat core reading as a sign deflation remained a threat to an economy struggling to recover from its worst recession since the 1930s. Wall Street stocks traded flat, while the dollar rose against the euro. With sluggish domestic demand expected to keep inflation pressures tame, many ana-
lysts believe the Fed will resume large-scale asset purchases in coming months to drive longterm interest rates lower to spur the economy and keep deflation risks at bay. The US central bank already has cut overnight interest rates to near zero and pumped more than $1.7 trillion into the economy through purchases of Treasury and mortgage-related debt. "We expect the Fed to formalize the bias toward easing, but they will probably wait until November to initiate balance sheet expansion," said Yelena Shulyatyeva, an economist at BNP Paribas in New York.Reuters
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developed Afghanistan was pivotal for the peace and stability of Pakistan and his government would continue assisting the Afghan government to achieve these goals. -Online
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ments of civil society.He said Pakistan strongly condemns the brutality and the blatant use of force by Indian security forces and the killing of the innocent Kashmiris, continued arrests and detention of the Kashmiri leaders are unacceptable. Qureshi said that Pakistan would continue to stand by the Kashmiris in their just cause. "We urge the international community to take steps for safeguarding the human rights of Kashmiris," he said.Shah Mehmood Qureshi said Pakistan was committed to finding a just and peaceful resolution of the issue of Jammu & Kashmir in accordance with the relevant UN resolutions and wishes and aspirations of the Kashmiri people. He said Pakistan had sought early and full resumption of the dialogue process with India and wanted a constructive, sustained and result-oriented dialogue with India on all issues including the Jammu & Kashmir dispute. -NNI
the government will play its role to assure success of the MDTF," said Sibtain Fazal Halim, Secretary Economic Affairs Division, who co-chaired the meeting. The World Bank confirmed its commitment to administer the fund on behalf of the participating donors. The expanded focus of the MDTF takes into account the need to address flood recovery, though the fund remains committed to the original goals in support of a long-term peace-building strategy for the region. The Bank is using its emergency procedures to reduce preparation and approval time for projects under the MDTF. At the same Continued from page 12 No #5 time, systems are being put in place to ensure that funds will be summoned meeting on Saturday to ensure full proof security of used for the intended purposes in a transparent manner. -Online the judges. The Chief Justices of all four high courts and chief justice of Federal Shariat Court would attend the meeting while Continued from page 12 No #3 phases.The US Special Envoy said the magnitude of the calami- Federal Secretary Interior, IG Punjab and Chief Secretary Punjab ty in Pakistan is hundred times bigger than Katrina in the United have also been called. Registrar Supreme Court Dr Faqir Hussain States a few years back and it will require investment worth bil- confirmed the meeting and told that the meeting is being called to lions of dollars to recoup. He said the United States and other ensure judges security. -Online members of the international community would surely provide help in reconstruction phase as well but bulk of the job would have to be undertaken by Pakistan itself. It will have to find ways to raise more revenues to support its needs. Holbrooke said he visited numerous refugee camps during the last forty years but he was struck by the resilience of the affected people in the face of floods of unprecedented magnitude. In this context, he also referred to the vital role that Radio Pakistan was playing in this hour of trial and said Radio is most effective means of communication and news in the country. That is why he always interacts with Radio Pakistan during his trips to Pakistan. He pointed out that a special ministerial level session is being held in New York to be co-chaired by UN Secretary-General and Pakistan Foreign Minister to take stock of the latest flood situation and aid requirements. US Secretary of State Hillary Clinton would also attend the session. Asked whether the United States would support a reconstruction programme like Marshall Plan, he said the US economy constituted 50 per cent of the global GDP when such Plan for Europe was launched but now it is 22 per cent of the world's GDP. He, however, said Pakistan has two real friends China and the United States and both want to help it in different ways. When his attention was drawn to large-scale damages to infrastructure in Swat by floods, he held out an assurance that the United States will not forget people of Swat who rendered tremendous sacrifices in the context of war on terror. The United States would support programmes and plans of Pakistan Government for reconstruction of Swat.About construction of water reservoirs, Richard Holbrooke said Pakistan definitely needs dams to conserve water and check floods in view of the climatic change but it is for its government to decide where these are to be built. To a question, he admitted that previously reimbursement of the expenses to Pakistan under Coalition Support Fund was slow but added that the process has been expedited. He said this is the money that the United States owes to Pakistan and this year it has reimbursed over one billion dollars. -Online
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The lower volumes were due to softer demand from utilities, as the country's electricity network was disrupted by devastating floods that wrecked the country over the past month, they added. The state firm bought up to 10 cargoes of high-sulphur 180-centistoke (cst) fuel oil, of 65,000 tonnes each, from Middle East trader Bakri and FAL Oil at undisclosed price levels on a costand-freight (C&F) basis. "Demand from Pakistan this time round hasn't been great because of the floods that have damaged some power generation plants, impacting electricity consumption to the point where they had to defer delivery of some low-sulphur fuel oil cargoes," a Singapore-based Asian trader said. "Also, the Middle East fuel oil market has been amply supplied and that probably meant that transaction levels weren't great and competition for the tender must have been quite stiff, especially since both FAL and Bakri both ended up with the same number of cargoes." PSO last bought up to 1.025 million tonnes of fuel oil for August to October delivery into Karachi at premiums of $16.00-$18.00 a tonne to Middle East spot quotes, C&F. Most of Pakistan's fuel oil supply comes from the Middle East, which has been amply supplied in the past month, on increasing volumes from Saudi Arabia and Iran. September volumes from the kingdom stand at 500,000-550,000 tonnes, up from 300,000-350,000 tonnes for each of the past two months. Volumes from Iran are also ample as excess barrels are stored on board Very Large Crude Carriers, with at least two 270,000-tonne supertankers being used as storage at any one time. East Asia is also heavily supplied by Western arbitrage flows for October, notionally estimated around 3.8 million tonnes, the highest volume in three months and up from 3.4-3.5 million tonnes for September. -Reuters
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decisions are not joke, I may be told who had sent summary to the Prime Minister to misguide him and we will take action against him and send him to jail", CJP said. Continued from page 12 No #4 The Court directed Ismail Qureshi, secretary establishment diviself-determination that is why their firm determination is being sion that the notification through which the notification of appointreflected in the peaceful protests of the youth, women and all seg- ments was nullified and the summary which was sent to Prime
11
Minister in this connection be presented in the court. The hearing of the case has been adjourned. -Online
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economy and generating employment opportunities, which reduce the likelihood of the youth turning towards militancy and extremism, he added. In this context, the PML-N leader referred specifically to the need for the Obama administration to finalise the understandings envisaged in the Trade and Investment Framework Agreement as well as for early approval by Congress of the legislation relating to the Reconstruction Opportunity Zones. Sharif also highlighted the need for early resumption of dialogue process between Pakistan and India. In this context, he urged the Obama administration to play a more effective role for the resolution of all outstanding issues between Pakistan and India, including the issue of Jammu and Kashmir.Ambassador Holbrooke assured the former prime minister that US viewed Pakistan as an important country that deserved the help and assistance of the entire international community in its efforts to confront militancy and to strengthen its economy. The US envoy reiterated that Obama administration and US Congress were also committed to supporting Pakistan and developing its institutions on a long-term basis. He said the US was also supportive of Pakistan's efforts to normalise its relations with India. This was essential not only for peace and stability in the region but for both countries to confront the many challenges they face, he added. Ambassador Holbrooke appreciated that the former prime minister has been a strong advocate of cordial and cooperative relations between Pakistan and India.-NNI
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emergency food relief operation through to July 2011. "The road to recovery will be long and arduous and Pakistan will need all the help it can get to build back from this disaster," said Sheeran. As well as general food distributions, under the expanded relief operation, WFP is putting in place a targeted supplementary feeding programme for infants and pregnant and breastfeeding women, and emergency school meals programmes.-Online
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to all the provinces", added the minister.Gondal said that the ministry would soon finalise a Relief/ Incentive Package for the flood affected areas and would forward it to ECC for approval. He added that farmers would be facilitated in all the possible ways so that they resume their livelihood through an early recovery from the damages they faced. "The objective of the Relief Package would be to help the small farmers of the country", said the minister.The meeting was informed that a total of 135000 tonnes of wheat seed would be needed for all the provinces. A total of 130,823 tonnes of wheat has been damaged in the public sector. Excluding the damages by the floods, the remaining total of 10,171,774 tonnes of wheat is available in the public sector. -Online
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It also "recognises that Pakistan is and remains a close ally and friend of the United States" and "reaffirms the commitment of the people of the United States to partner with the people of Pakistan to respond to the immediate crisis and build the foundations for a successful and lasting recovery". The measure passed by vote of 396 to 2. The resolution supports the use of funds by Washington to help relief efforts and "urges the United States administration and the international community, including private citizens and foreign governments, to continue providing assistance" to Pakistan. -Agencies
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contributed a big chunk of its ration for the relief of the affected people. He appreciated the morale of the commanders and the Jawan for their untiring efforts to extend all possible assistance to the countrymen in hour of crisis. -APP
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which have added to its difficulties. PSO has also deferred offering of tenders for the contract in connection with 10 cargoes of fuel for the months of October and November due to non-clearance of dues by others. -Online
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debit cards transactions were reported to 35.03 million and Rs269.40 billion respectively showing an increase of 7.0 per cent in number and 4.8 per cent in value. Similarly, during the fourth quarter of FY10 the volume and value of credit cards transactions were reported at 3.9 million and Rs16.6 billion respectively showing an increase of 8.9 per cent in numbers and 1.7 per cent increase in value as compared to 3.9 per cent decrease in numbers and 4.0 per cent decrease in value in the previous quarter. In addition, the total number of cards (debit / credit /ATM only) in circulation during the fourth quarter reached to 10.52 million which shows an increase of 0.7 per cent compared to 4.9 per cent increase in the previous quarter.
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Invensys was also a strong gainer, up 3.2 per cent after the firm announced its rail unit had signed a deal with Chinese manufacturer CSR, increasing its exposure to the rapidly growing Asian economy. "We expect further collaborations to be announced which would logically cover mainline and high speed and this, in turn, underlines the pivotal position Invensys rail is developing for itself," Evolution Securities said in a note. Food retailer Sainsbury, up 1.7 per cent was boosted by a UBS upgrade to "buy" from "neutral" Defensive stocks were not exempt from the sell-off, with Shire and utility Scottish & Southern Energy down three and 2.1 per cent respectively. Britain's top share index is expected to barely rise between now and the end of 2010, but will bounce eight per cent by mid-2011 as support from overseas earnings offsets worries about the economy, a Reuters poll showed. -Reuters
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The poll was conducted after the central bank had raised rates on Thursday for a fifth time this year to tame inflation. ICICI Bank and HDFC Bank rose 1.1 per cent and 0.2 per cent respectively, while State Bank of India edged 0.2 per cent lower. Jet Airways gained 0.6 per cent to 759.40 rupees. Delta Corp rose 20 per cent to 69.70 rupees. Elder Pharmaceuticals firmed 5.1 per cent to 434.95 rupees. Ispat Industries emerged as the volume leader with 31.6 million of its shares trading during the day, followed by Delta Corp with 10 million shares, and Shree Ashtavinayak with 9.6 million shares. Foreign funds have bought a net $15.4 billion in Indian equities so far in 2010, adding to their record $17.5 billion purchases last year. The inflows reaffirm investor faith in India's economic growth and corporate fundamentals, dealers said. Most emerging stock markets will finish 2010 with much stronger gains than their rich world counterparts, according to Reuters polls that showed only Japanese and Chinese bourses ending the year in double-digit slumps. -Reuters
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Oracle Corp and Research In Motion Ltd led the Nasdaq after they posted better-than-expected results and gave outlooks that topped expectations.Oracle shot was up 6.9 per cent at $27.10, while RIM rose nearly two per cent to $47.38. Texas Instruments Inc gained 2.6 per cent to $25.63 after the chipmaker increased its stock repurchase program and boosted its quarterly dividend by eight per cent. The close of trading on Friday marks the quarterly expiration of September equity futures and option contracts, a convergence known as "quadruple witching", which may increase volume and trading volatility. On Thursday, options had its busiest day in a year, led by a surge in call trading. The total put-to-call ratio, often used to gauge market sentiment, fell to its lowest level since December 24, 2009. -Reuters
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GS Yuasa Corp charged up 3.3 per cent to 619 yen after a source close to the discussions said the battery maker is in talks with Magna International Inc to produce lithium ion batteries for electric vehicles in Europe.Hitachi gained 3.6 per cent to 378 yen after it said it plans to pay a five yen per share dividend for the April-September first half. It paid no dividend in the same period last year, when it was mired in losses. -Reuters
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bereaved family.Burial of Dr Imran Farooq will take place in Karachi after his body is handed over to the family and brought to Pakistan, Sattar said. Talking to media men, Dr Sattar said that it is wish of the family and the party that Dr Imran Farooq, be buried in the latter's ancestral city - Karachi, added that MQM is constantly in touch with the British government in connection with bringing Dr Imran Farooq's body back to Pakistan. Furthermore, Scotland Yard has launched an inquiry into the murder of MQM leader. Detectives are hunting his attacker and interviewing witnesses. They have secured the CCTV footage from the part of north London where Farooq lived. In consequence to the murder incident, all major markets, shopping centers, and commercial areas in the metropolis remained closed on Friday, while Karachi Transportation Authority stopped all transportation. CNG stations and petrol pumps across the city were also shut down. Contingents of police and rangers were deployed across the city to cope with any eventuality. Police personnel using mobile vans and motorbikes kept on patrolling different areas whole the day. Attendance in public and private organizations remained thin. Except University of Karachi, all the exams scheduled for the day were postponed by the public and private sector educational institutions. People from areas across Sindh including Mirpurkhas, Nawabshah, Tando Allah Yar and Shahdadpur mourned Farooq's death and demanded the immediate arrest of his killers. Meanwhile, MQM sources said no rallies or protests have been planned as yet, but a schedule will be announced later. Meanwhile, President Asif Ali Zardari, Prime Minister Yousuf Raza Gilani and political leaders across the country have condemned the murder of Dr Imran Farooq and have condoled with the bereaved family. In their separate messages President Zardari said that Dr Imran Farooq's cold blooded murder is condemnable. He expressed his heartiest condolence with the bereaved family, while PM Gilani in his separate message also condemned the murder and said that the incident is a major tragedy. Chairman Senate Farooq H Naek, Deputy Chairman Senate Mir Jan Jamali, Leader of the House in the Senate Syed Nayyar Bokhari, Leader of the Opposition in Senate Wasim Sajjad, National Assembly Speaker Dr Fehmida Mirza, Deputy Speaker Faisal Karim Kundi, Foreign Minister Shah Mehmood Qureshi, Interior Minister Rehman Malik and other ministers and leaders also condemned the brutal murder of Dr Imran Farooq and offered their heartfelt condolences to the bereaved family and prayed to Almighty Allah to rest the departed soul in eternal peace.
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PM says NODMC an apolitical body ISLAMABAD: Prime Minister Syed Yousaf Raza Gilani talking to US Special Reporesentative for Afghanistan and Pakistan/Ambassador Richard Halbrooke who called on him at PM House. -APP
Pakistan’s Afghan role lawful, key: Holbrooke ISLAMABAD: The US Special Representative for Afghanistan and Pakistan Richard Holbrooke has acknowledged that Pakistan has an important and legitimate role in Afghanistan. He was participating in Special Roundtable with national and international radio networks hosted by Radio Pakistan in Islamabad Friday morning. The Roundtable was hosted by Director-General Radio Pakistan Murtaza Solangi and participated by representatives of BBC, VOA, DW, FM Power-99, FM-103 and a journalist live from Swat. Replying to a question, Holbrooke said it is not in the interest of Afghanistan, Pakistan or the region that Taliban takes over in Kabul. He said both Pakistan and Afghanistan would have to work together to ensure stability in Afghanistan. To a question he said it was difficult to predict outcome of the Afghan parliamentary elections being held tomorrow as there are about ten candidates against each seat and they are not organised in political parties. About corruption in Afghanistan, he said the international community
is not there to eliminate it but eradication is necessary for success of the ongoing war on terror. The US Special Representative pointed out that two months back Pakistan and Afghanistan arrived at an understanding on a historic trade agreement. Afghanistan government has already ratified it and Pakistan will hopefully do the same soon and the vast trade opportunities up to Central Asia would open up for Pakistan. He clarified that India was not included in the trade arrangement because of Pakistani concerns. Replying to a question about the US position on situation in Occupied Kashmir, Richard Holbrooke said the United States would encourage dialogue and increased mutual understanding between Pakistan and India. Asked to comment on remarks attributed to him by a section of the press that government of Pakistan was on board on the issue of drone attacks, Holbrooke said he was misquoted. He, however, pointed out that we face a common threat from the militants in the border region who are killings Americans in Afghanistan and also people in
Pakistan. They are also trying to provoke conflict between Pakistan and India and thus present a threat to the region and beyond. He said we cannot afford to ignore this threat. Referring to the flood situation in Pakistan, the US Special Envoy said Washington is leading in the relief phase and it would continue to lead in the early recovery phase as well. He said the United States immediately responded to the unfolding tragedy in Pakistan and moved helicopters from Afghanistan and currently 30 helicopters are engaged in relief activities. He said the United States is providing aid worth 300 million dollars to help tackle the flood situation in Pakistan. Holbrooke said a decision has been taken to divert amount from 7.5 billion dollar Kerry-Lugar programme to help Pakistan meet the emergent situation created by the devastating floods. Already, the United States has directed 50 million dollars from this programme for the purpose. Richard Holbrooke said he has interacted with the Pakistani leadership to discuss how the US can help address the situation in subsequent See # 3 Page 11
Nepra disowns tariff hike notice
Qureshi condemns India forces’ IHK atrocities
ISLAMABAD: A fake notification on hike in power tariff by National Electric Power Regulatory Authority (Nepra) from 21 paisas to Rs6.18 has come to light while Nepra has refused to accept any responsibility in this connection. It has come to notice that a fake notification of raise in power tariff has been issued by Nepra’s tariff branch without approval and in the absence of registrar Nepra, Safir Hussain. When contacted by Online, Nepra registrar office told registrar was on leave and notification about enhancement in power tariff was not in his knowledge. DG Tariff Saeed Insaf
was contacted and he expressed his ignorance about issuance of this tariff saying that director Admn, Qamar Abbasi could tell better about it. When Qamar Abbasi was contacted he also expressed his ignorance about the issue of any notification saying director coordination Hammad Saleemi was acting spokesman and this matter would be in his knowledge. Hammad Saleemi was not found present in his office and his staff members told that such notification was also not in their knowledge. Sources told Nepra had not issued any notification about hike in tariff and if any notification had been issued it was fake. -Online
Punjab to have 2 off-days till further orders LAHORE: Punjab government rectifying the decision regarding two holidays in a week issued notification to extend two weekly holidays till its next directive. According to media reports, it was expected that Punjab government would annul two weekly holidays as Punjab government first decided to restore two weekly holidays till August 31 and later extend it to September 12 and after Eidul Fitr vacations, it was expect-
ed that Punjab government would end two weekly holidays. However, with the approval of Chief Minister Mian Shahbaz Sharif Punjab government issued notification here on Friday to maintain two weekly holidays till next directive from Punjab government. While federal government had already issued notification to extend two weekly holidays till October 31. -Online
Waterborne diseases to cause more deaths: WHO GENEVA: Though the risk of death from waterborne diseases is very high, but Pakistan is so far safe from the raft of causalities as a result of rapidly spreading contagions, says World Health Organisation. WHO's representative told reporters in Geneva by phone Friday that malaria and measles also pose an immediate risk in the flood-hit country. Dr Guido Sabatinelli says a feared second wave of deaths from flood has
so far failed to materialise. The ''risk is very high'' that waterborne diseases such as cholera could spread and cause large numbers of deaths, he warned. Dr Sabatinelli says there have been 57 confirmed cases of the disease in recent weeks. He says a long-term concern is malnutrition, which already affected large numbers of children in rural areas before the floods and is likely to worsen due to the disaster. - Agencies
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has said that National Oversight Disaster Management Council (NODMC) has been constituted through national consensus as well as in line with devolution of powers to the federating units under the 18th Amendment to the Constitution. He said the NODMC consists of people of impeccable integrity and repute and its members are nominated by federal as well as all the provincial governments including AJ&K and Gilgit-Baltistan. Under its Terms of Reference, he added, NODMC is fully empowered to ensure transparency, accountability and judicious utilisation of the foreign assistance for the reconstruction and rehabilitation of the flood affected areas. The Prime Minister was talking to Ambassador Richard Holbrooke, US Special Representative for Pakistan and Afghanistan who along with a delegation called on the Prime Minister at the PM's House here Friday afternoon. The Prime Minister said that
NODMC is totally a non-governmental and non-political body having support of all political parties and endorsed by the Council of Common Interests. He added that the NODMC is in addition to the already existing accountability mechanism like the Auditor General and the Public Accounts Committee. The Prime Minister said that it is a matter of satisfaction that all the political parties and civil societies are making efforts to help their brothers at these trying times. He updated the US delegation about the current situation in the flood affected areas. He thanked the US leadership and military for their generous humanitarian assistance to mitigate sufferings of Pakistan's flood affectees. He appreciated the fact that the US would be announcing a comprehensive package for the rehabilitation and reconstruction phases in the flood affected areas during the forthcoming FoDP Ministerial meeting in Brussels from October 14-15, 2010. He said that government of
Pakistan is also raising finances through indigenous resources to meet the expenditure required for the reconstruction and rehabilitation of the flood affected areas. The Prime Minister expressed the hope that the US would also expedite reimbursement of pledged assistance against Kerry Lugar Bill and the long overdue payments of Coalition Support Fund. While noting that EU Council had decided for WTO trade concession specifically for Pakistan, the Prime Minister urged the US government for helping Pakistan in lobbying for a positive decision for greater access to Pakistani products in the EU markets. The Prime Minister reaffirmed that despite the catastrophic consequences of floods on Pakistan's economy, his government remains resolutely committed to pursue the war against terror. While referring to President Karzai's recent visit to Pakistan, the Prime Minister stated that he was of the firm belief that a peaceful, stable and economically See # 1 Page 11
MDTF meeting for rehab funding held ISLAMABAD: The first Steering Committee Meeting of the MultiDonor Trust Fund (MDTF) for Khyber Pakhtunkhwa (KP), the Federally Administered Tribal Areas (Fata) and Balochistan took place Friday to approve a financing strategy for the $130 million fund. The World Bank administered MDTF was established at the request of the government to support reconstruction and peace-building initiatives in crisis affected areas of KP, Fata and Balochistan. Donors also
agreed that the fund, which became operational recently, should also be used to address urgent needs arising from recent flooding in these provinces and Fata. "The trust fund is a good instrument for ensuring better coordination among the donors and the government, thereby enhancing development effectiveness and also reducing transaction costs," said Rachid Benmessaoud, the World Bank Country Director for Pakistan. Australia, Denmark, the European
Union, Finland, Germany, Italy, Sweden, Turkey, UK, and the USA have agreed to pool a total of $130 million through the fund to support the two provinces and Fata. The financing plan was designed based on the preliminary findings of the Post Crisis Need Assessment (PCNA) and on the development plans of the federal and provincial governments. "We appreciate the support of the donor partners and assure them that See # 2 Page 11
ISLAMABAD: Foreign Minister Shah Mehmood Qureshi while strongly condemning the Indian brutalities in Occupied Jammu & Kashmir said that gross and systematic abuse of human rights and Indian repression in Kashmir must end. In a statement here on Friday, the minister called on the government of India to exercise restraint. "Pakistan takes a serious note of the deteriorating situation in Indian occupied Kashmir. The indigenous movement in Jammu and Kashmir has gained a new momentum and urgency," he said. He said that Kashmiris were unanimous in their demand for See # 4 Page 11
CJ calls meet for judges security today ISLAMABAD: Chief Justice of Pakistan Iftikhar Muhammad Chaudhry has convened a meeting here on Saturday to ensure judge's security after news about alleged planning to kill Khawaja Muhammad Sharif, Chief Justice Lahore High court. As per details, in wake of possible killing attacks on judges and revelation of plot to kill Khawaja Muhammad Sharif, Chief Justice Lahore High Court, CJ has See # 5 Page 11
PSO buys 650,000 tonne oil for Oct-Nov SINGAPORE: Pakistan State Oil (PSO) bought up to 650,000 tonnes of fuel oil for OctoberNovember delivery via its regular tender, down from above 1 million tonnes previously, traders said on Friday. See # 6 Page 11
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