The Financial Daily Epaper 21-09-2010 by The Financial Daily

International Karachi, Tuesday, September 21, 2010, Shawwal 11, Price Rs12 Pages 12

Murtaza’s murderers won’t escape : Zardari

Saudi intelligence chief set to arrive shortly

See on Page 12

UN N-watchdog in credibility crisis: Iran

See on Page 12

FBR finalises tax Survey report in KP

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- Aug10) Remittances (Jul 10-Aug 10) Foreign Invest (Jul 10-Aug10) Revenue (Jul 10-Aug10) 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

Qureshi co-chairs World Powers’ moot with Ki-moon

$16.07bn 12.79% $3.56bn $6.25bn $(2.69)bn $(944)mn $1.72bn $267.10mn Rs 185bn $55.63bn Rs 4705.4bn $62.10mn 4.55% 4.10% $1,051 170.58mn

Transparent aid-use vowed US assures continued support to Pakistan’s flood-hit

Portfolio Investment SCRA(U.S $ in million)

41.34 -44.53 1.49 2,337

Yearly(Jul, 2010 up to 16-Sep-2010) Monthly(Sep, 2010 up to 16-Sep- 2010) Daily (16-Sep-2010) Total Portfolio Invest (9 Sep-2010)

NCCPL (U.S $ in million)

FIPI (20-Sep-2010) Local Companies (20-Sept-2010) Banks / DFI (20-Sept-2010) Mutual Funds (20-Sept-2010) NBFC (20-Sept-2010) Local Investors (20-Sept-2010) Other Organization (20-Sept-2010)

0.56 0.40 1.67 -1.74 0.25 -0.98 -0.17

Global Indices Index Close KSE 100 10,063.58 Nikkei 225 9,626.09 Hang Seng 21,977.34 Sensex 30 19,906.10 ADX 2,631.56 SSE COMP. 2,588.71 FTSE 100 5,602.54 *Dow Jones 10,709.87 *Last Updated 20:00 PST

Change 10.61 116.59 6.48 311.35 0.71 9.98 94.09 102.02

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 2.60 111.40 16.88 144.64 2.30 49.27 1.70 36.42 9.81 33.62

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% 12.64% 12.75% 12.89% 13.22% 13.30% 13.18% 13.27% 13.39% 13.58% 13.75% 13.92%

08-Sep-2010 08-Sep-2010 08-Sep-2010 30-Jul-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010

Commodities *Crude Oil (brent)$/bbl 78.13 *Crude Oil (WTI)$/bbl 73.76 *Cotton $/lb 101.10 *Gold $/ozs 1,281.20 *Silver $/ozs 20.84 Malaysian Palm $ 843.10 GOLD (NCEL) PKR 35,295 KHI Cotton 40Kg PKR 7,609 *Last Updated 20:00 PST Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)

Australian $ 80.20 Canadian $ 82.70 Danish Krone 14.70 Euro 111.30 Hong Kong $ 10.60 Japanese Yen 0.987 Saudi Riyal 22.70 Singapore $ 63.50 Swedish Korona 11.60 Swiss Franc 83.20 U.A.E Dirham 23.20 UK Pound 134.50 US $ 85.75

81.20 83.70 15.10 112.50 11.10 1.012 22.90 64.50 12.60 84.20 23.40 135.00 86.05

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

80.76 83.03 15.03 111.94 11.03 1.000 22.84 64.20 12.13 84.75 23.32 134.21 85.69

80.95 83.22 15.07 112.21 11.06 1.002 22.89 64.35 12.16 84.95 23.37 134.53 85.87

Weather Forecast CITIES

ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI

MAX-TEMP

33°C 37°C 28°C 33°C 28°C 33°C

MIN

17°C 24°C 21°C 20°C 6°C 19°C

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UNITED NATIONS: Foreign Minister Shah Mehmood Qureshi adressing at a high level meeting on Flood Emergancy in Pakistan. UN Secretary General Ban Ki-moon also seen. -APP

MQM blames govt for carnage

Karachi killings death toll hits 14 KARACHI: In the fresh spree of target killings and violence at least 14 people were gunned down in various areas of Karachi over the previous two days, media reported. The incidents of killings took place in Sohrab Goth, North Nazim Abad, North Karachi, New Karachi and MA Jinnah Road. Deputy Convener Muttahida Qaumi Movement Coordination Committee, Dr Farooq Sattar has held federal and provincial interior ministry responsible for the current killing incidents in the city, describing it a "conspiracy against MQM". "Our opponents have started this dirty game of bloodshed to tarnish our image and to prove that MQM has unleashed the carnage in Karachi after murder of its leader," Sattar said while addressing a press con-

ference here. Two people were killed in the retaliation fire by Rangers at Liaquatabad area where dozens of miscreants set vehicles on fire, turning the area into battle field. Earlier, three persons shot dead near Nagan Chowrangi UP Morr. The deceased Nabeel 25, Noman 35 and Ansar 25, said to be affiliated with outlawed Sipah-e-Sahaba militant group. Farhan, 16, was shot dead near Yousuf Plaza in Federal B Area. In two other incidents of shooting Dilawar Maseeh 22, and Tanveer 35, were killed in Korangi 2 1/2 and Rizvia Society localities. More than a dozen people have been admitted at various city hospitals with gunshot wounds. Sindh Home Minister See # 12 Page 11

2M C/A deficit swells by 49pc Ghulam Raza Rajani KARACHI: The current account deficit of the country widened by 48.7 per cent to $944 million in the first two months of fiscal year 2011 (July- August) from $635 million during same period last year, the State Bank of Pakistan reported Monday. Increase in current account deficit has mainly been driven by trade, and services deficits, although workers remittances helped reduce the current account deficit, according to TFD analyst. Trade deficit during this period stood at $2.27 billion, higher by 15.9 per cent against $1.96 billion same period last year.

Similarly, deficit on trade of goods & services combined surged by 16.3 per cent to $2.84 billion from $2.44 billion same period last year mainly due to higher service deficit of 17.9 per cent to $567 million against $481 million in 2MFY10. Current transfers were up 0.6 per cent at $2.3 billion including workers remittances of $1.72 billion along with $32 million inflow of FCA residents. Additionally, financial account massively down by 93 per cent to $141 million against $2.01 billion. However, in August, the deficit shrank by 47.7 per cent to stand at a provisional $324 million, against $620 million in July 2010.

Project to cost $3bn

TAPI framework pact agreed upon ISLAMABAD: Turkmenistan, Afghanistan, Pakistan and India Monday finally agreed upon a framework of agreement to construct a gigantic pipeline pumping natural gas to South Asia, a Pakistani official said. The TurkmenistanAfghanistan-Pakistan-India (TAPI) gas pipeline project, valued at more than $3 billion, has long been discussed by governments and energy companies but instability in Afghanistan has so far made its construction impossible. Turkmenistan, holder of the world's fourth-largest natural

gas reserves, is keen to revive plans to build the TAPI pipeline through Afghanistan to the markets of Pakistan and India. The former Soviet state is looking to diversify energy sales from its traditional market, Russia, and is courting investors from the West, China and other Asian countries. "The petroleum ministers of the four countries have initialed the Gas Pipeline Framework Agreement in Ashgabad," a Pakistani Petroleum Ministry spokesman See # 13 Page 11

PM cancels Railways fare hike ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has stemmed the decisions of closure of trains, increase in railway fares, and has also summoned Ghulam Ahmed Bilour Federal Minister of Railways including other 27 key officials on 27 Sep, Monday. Pakistan Railways sources said PM Gilani by taking strict notice of increase in Railway fares and closure of trains has immediately stopped the decision. Sources said Railway Minister received a letter from PM Secretariat that the decision to raise the railway fares should be stopped until further notice. Sources told that Federal Minister for Railways along See # 11 Page 11

Mehmood Shaam joins ARY Staff Reporter KARACHI: Renowned senior journalist, Mahmood Shaam has been appointed as Chief

UNITED NATIONS: Pakistan has vowed to use international aid efficiently and transparently to provide relief to around 21 million flood afflicted people as Foreign Minister Shah Mehmood Qureshi assured the world diplomats best use of international aid. After co-chairing a special conference of world diplomats with UN Secretary General Ban Ki-moon here Sunday, Qureshi told reporters that Islamabad is also committed to raise additional national resources to complement the enormous support. "We will use every dollar in an efficient and transparent manner," he said answering questions about the international community's emphasis on best use of the aid. "We have put in place an

Aid Pledged European Union SArabia Unites States United Kingdom Iran

$350mn $345mn $340mn $210mn $100mn

elaborate and transparent mechanism for the most efficient utilisation of relief assistance, "Qureshi said. The meeting at UN headquarters in New York - which lasted 90 minutes - was attended by US Secretary of State Hillary Clinton and senior diplomats from the European Union, the oil-rich Arab world, Pakistan's traditional friends China and Turkey and leaders of international financial institution. Foreign Minister also reaffirmed Pakistan's resolve to press ahead with economic

Extra finances to help mobilise $2bn for Pakistan

ADB ups trade outlays $500mn ISLAMABAD: The Asian Development Bank (ADB) has announced to increase its trade finances in Pakistan by an additional $500 million. This could provide around $2 billion of trade finances to help the country cope with the immediate needs arising from the recent devastating floods as well as longer-term reconstruction requirements, said a statement received here Monday. ADB President Haruhiko Kuroda announced this additional support for Pakistan at the high-level Ministerial Meeting on the Flood Emergency in Pakistan, held at the United Nations building in New York, it added. Trade Finance Program

(TFP) provides loans and guarantees through, and in conjunction with, international and ADB's developing member country banks to support trade transactions in developing countries. By attracting private sector financing, and because the typically short-term trade finance can roll over, the impact of the additional funding is multiplied. In 2009, TFP exposure of $249 million to Pakistan banks supported $983 million in trade. "The widespread flooding has exacted a heavy toll on the people of Pakistan. They will need medicines and foodstuff straight away and, later on, See # 6 Page 11

World Bank tells Pakistan to widen tax-net

Pay more taxes, Pakistanis told Editor while Rana Tahir Mehmood would be Group Editor of the newspaper, which will be published from Karachi, Lahore and Islamabad simultaneously by ARY Digital See # 14 Page 11

Dar’s visit to MQM HQ seen part of political shift Staff Reporter KARACHI: Political prophesiers Monday suddenly jumped to front and let loose speculations of a sea-change at political front after PML-N leader, Ishaq Dar’s visit to MQM headquarter "Nine Zero". Rumors were being disseminating around for quite some time about the possible political change in the House, while Prime Minister Gilani had recently said he would not welcome any move, but democratic. See # 20 Page 11

NEW YORK: World Bank Monday stressed on Pakistan Government to widen tax-net and urged people to pay more taxes not only for rehabilitation and reconstruction of flood affectees but also for mobilising the world to pay for Pakistan. Addressing the United Nations High Level Ministerial Meeting on the Flood Emergency in Pakistan WB president Robert B Zoellick said that he sympathises with the Pakistani flood affectees. Zoellick said to make most effective use of help and even to secure full donor support;

the government of Pakistan will need a reconstruction founded on transparency, accountability, flexibility backed by law. He said the first focus has understandably been on the humanitarian calls for help. The World Bank Group pitched in with rescue boats and the $300 million of fast-disbursing funds for critical needs. For the fiscal year, we will devote one billion dollars of concessional finance, our IDA money, for flood recovery and reconstruction. "I expect that IFC, our See # 7 Page 11

Pakistan inks contract for 2 more plants at Chashma

China to build 1GW N-reactor BEIJING: China's main nuclear energy corporation is in talks to build a 1-Gigawatt nuclear reactor in Pakistan, an executive said Monday, a move that could intensify international unease about their nuclear embrace. China has already helped

Pakistan build its main nuclear power facility at Chashma in Punjab province, where one reactor is running and another is near completion, and it has contracts to build two more there, despite the qualms of foreign governments. See # 10 Page 11

reforms despite the staggering flood recovery costs and said it will devise a comprehensive plan for reconstruction in the flood zones. "We will rebuild our country ---- the Pakistanis are a resilient nation ---- it will take three to five years to rebuild the devastated areas," he said referring to colossal damage to infrastructure, crops and houses. The foreign minister told the conference earlier that Pakistan has established the National Oversight Disaster Management Council (NODMC) through a consultative and inclusive process. "This independent and powerful body comprises fifteen eminent people of unblemished integrity and good standing from cross-section of See # 4 Page 11

SC seeks full Nato container scam details ISLAMABAD: Chief Justice Iftikhar Mohammed Chaudhry Monday asked the authorities why Nato containers running from Karachi to Afghan border are not being checked. "Who will be responsible if the containers of Nato unload explosives within Pakistan," Chief Justice asked during hearing of a case about finding of thousands litres of liquor from a Nato container enroute to Afghanistan from Karachi. He said when four trucks legally transport wheat to Afghanistan 16 others illegally carry the commodity to that country. Justice Tariq Pervez remarked that the cargo for Afghanistan being sold in Peshawar. Customs representative, Munir Qureshi told the court that Nato stuff is being supplied either by See # 5 Page 11

By-polls in PS-94 Khi shelved KARACHI: On the request of Sindh government, Sindh Election Commission (SEC) postponed by-election in PS-94, Karachi constituency till October 17. According to a private television channel, the constituency was laying vacant after the murder of the Muttahida Qaumi Movement (MQM) MPA Raza Haider. SEC announced by-election in the constituency on September 22 but the provincial government requested SEC for postponing the election due to the situation in the city after the murder of the MQM leader See # 8 Page 11

Qamar to talk oil crisis with OMCs today ISLAMABAD: Federal Minister for Petroleum and Natural Resources Syed Naveed Qamar has formally summoned a meeting of Oil Marketing Companies today in view of petrol shortage in Punjab and Balochistan. See # 9 Page 11

Tuesday, September 21, 2010

US condemns school bombing in Peshawar ISLAMABAD: US embassy in Pakistan strongly condemned the bombing of a government school in Palosi, Peshawar on September 19, said a handout issued here on Monday. These are efforts by extremists to prevent young students from obtaining education necessary to improve their lives demonstrates their contempt for Pakistan's future generations, it further said. The United States will continue working to support the people of Pakistan as they strive to secure a future of peace, freedom, and opportunity for themselves and their children, free from violence and intimidation, it concluded.-PR

ICAP moot tomorrow KARACHI: The Southern Regional Committee of the Institute of Chartered Accountants of Pakistan (ICAP) will be organising a seminar on "Code of Corporate Governance & Way Forward" on 22nd (Wednesday) at ICAP House Clifton Karachi. Ebrahim Yacoob Sidat, FCA, Country Managing Partner Ernst & Young Ford Rhodes Sidat Hyder will be the speaker at the occasion and Fuad Azim Hashimi, President, Pakistan Institute of Corporate Governance will be the session chairman at the seminar. The concept of corporate governance has become increasingly important in Pakistan in recent years. The subject has attracted greater attention from regulators who are reviewing the governance framework across private and public sectors.-PR

TUESDAY Time 8:00 9:00 9:02 10:00 10:15 11:00 11:05 12:00 12:05 12:30 Pakistan 13:30 14:00 14:15 15:05 16:05 17:00 17:05 18:05 19:00 19:05 19:30 20:00 20:05 21:00 22:05 23:00 23:05 23:30

Programmes Pakistan Aaj Raat News Pehla Sauda News Bazaar News Ghar Ka Kharch News Bara ka Para Mang Raha Hay Akhri Suada News Power Hour Kamyab Islamabad Say News Ghar Ka Kharch Pegham-e-Islam News Islam Aur Karobar Karobari Dunya Headlines Islamabad Say Pakistan Aaj Raat Doosra Pehlu News Karobari Dunya Islam Aur Karobar

TV PROGRAMMES TUESDAY Time Programmes 7:00 News 8:00 News 9:05 Subah Savere Maya ke Sath 11:00 News 12:00 News 13:10 Newsbeat (Rpt) 14:10 Tonight With Jasmeen (Rpt) 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Crime Scene 20:03 Newsbeat 21:00 News 22:03 Tonight With Jasmeen 23:00 News 23:30 24

Canadian govt urged to help Pak Jamil Siddiqui

KARACHI:Sindh Home Minister,Dr Zulfiqar Mirza Presides over high level “Law and order” meeting at Central Police Office (CPO) in Karachi.-PPI

‘N’ leader voices concern over HEC fund-cut

Shahid Soorty elected new PDMEA head

Sector Universities to immediately release funds already approved under PSDP 2010-2011. The PSDP for this year has already been reduced to Rs11.5 billion as against Rs18.5 billion of previous year. Any delay in providing funds to HEC will cause colossal and irreparable losses to Higher Education Sector and compromise our long term national interests and the future of our 4,000 brightest scholars studying abroad for their PhDs. Mamnoon Hussain further stated that the Federal Finance Minister should immediately put

Staff Correspondent

Staff Reporter KARACHI: Senior Central Pakistan Muslim League (N) leader and former Governor Sindh and Chancellor of Sindh Universities, Mamnoon Hussain, has termed Federal Minister for Finance, Dr A Hafeez Sheikh's refusal to provide funds to the cash strapped Higher Education Commission (HEC) and his insistence to generate its own resources by increasing fees as deplorable. Mamnoon Hussain has strongly supported the rightful and just demands of the HEC and Vice Chancellors of 71 Public

Etihad starts UAE visa service in Pakistan KARACHI: Etihad Airways, in conjunction with TT Services, has launched a new visa processing service for all Etihad passengers travelling to the United Arab Emirates (UAE) from Pakistan. Citizens of Pakistan and other foreign nationals who reside in Pakistan, travelling on Etihad Airways to Abu Dhabi and the UAE, can now apply for quick and easy online visa processing for the UAE. The worldwide rollout follows a successful trial of online visa services in South Africa and India. Etihad Airways Country Manager in Pakistan, Amer Khan, said, "We are pleased to offer the Visa Services to facilitate our guests from Pakistan who are visiting the UAE. "We look forward to facilitating an enjoyable travel experience for all our customers by offering our world-class product and services."-PR

an end to doling out and gulping of Rs. 300 billion tax payers' money by state run loss incurring "White Elephants" like PIA, Pakistan Steel Mills (PSM), Pakistan Railways (PR) and WAPDA each year. The Federal Govt. should forthwith merge/dissolve redundant Federal Ministries and reduce the size of Federal Cabinet correspondingly to save huge administrative expenses. It can also help provide funds for public welfare (PSDP) by eradicating rampant corruption in public sector and by focusing on improving governance.

DUHS, Turkish team to help flood victims Staff Correspondent KARACHI: Dow University have collaborated with the Turkish team of doctors belonging to International Health & Education Association, Turkey to setup a 10-day free medical and flood relief camp in various areas of Sindh including Gadap, Gharo, Makkli and Mirpursakro etc. to cover maximum possible health related problems. A thirteen (13) member Turkish team arrived on

Sunday morning and was received at the airport by the Registrar and Staff of Dow University. They have also brought various medicines and medical equipments to help flood affectees. The Vice ChancellorDUHS, Prof Masood Hameed Khan briefed the Turkish team regarding DUHS flood relief work and medical services rendered by the Dow University. The Turkish team also assured their full support and cooperation regarding medical services.

wi-tribe supporting assistance efforts KARACHI: wi-tribe employees organised a 'Relief Drive' using donations from their salaries to support victims of the devastating floods. Talking about the relief efforts, Mustafa Peracha, CEO of wi-tribe Pakistan said, "Considering the devastation that has taken place, we felt it was our obligation as members of society to reach out to

those suffering in the wake of the floods. I am proud to say that wi-tribers worked as one team and initiated an internal relief effort drive to not only contribute financially to the cause, but also volunteered to visit the affected areas ourselves." wi-tribe employees volunteered their time to procure, pack, transport and distribute the goods themselves.-PR

KARACHI: Samra Muslim, Marketing Officer Pakistan, Etihad Airways, presenting Etihad Airways return ticket of London to Jamat Ali, most valuable player of Volley Ball Tournament organised by Citizens Archive of Pakistan.-PR

KARACHI: Shahid Soorty of Soorty Denim has been elected as new unopposed Chairman of Pakistan Denim Manufacturers and Exporters Association (PDMEA) for the year 2010-11. According to a handout of PDMEA released to The Financial Daily Mirza Ishtiaq Baig of Pak Denim and Siddiq Bhatti of US Apparel were declared as unopposed Vice Chairmen of Sindh and Punjab. PDMEA announcement further said that Executive members who are elected un opposed are Amanullah Qasim Yaqoob Ahmed, Shaheen Merchant, Rana Zahid Tauseef, Hanif Machera, Saquib Riaz Tata, and Iqbal H. Agha while the senior members who attended the election process were Dr.Mirza Ikhtiar Baig, Chairman Pak Denim, Tariq Rafi of Siddiq Sons, Khalid Majeed of Mekotex, Shaheen Merchant of S M Denim, Habib Rajwani of Rajwani Denim and Raza Agha of Denim International.

KARACHI: The Government of Canada keeping in view of the devastation due to floods unprecedented in global history must immediately contribute an additional $20 m for long term aid to Pakistan, this was urged by member of parliament for Scarborough- Agincourt Canada, Jim Karygiannis while talking to The Financial Daily. He said that apart from allocation of $40.5m pledged to date and besides expediting Family Class immigration applications and the DART team deployment to accelerate the flood relief operation, more monetary assistance should be granted to Pakistan in this hour of need. Flanked by a team of Canadian Doctors and members of Global Medic

who have been working with flood victims across the country for the last 9 days, he said that so far only 4 per cent of Canadians have donated money for Pakistan flood relief. Earlier while addressing the media he said that he has already chalked out recommendations for the Canadian Government which include immediate institution of the Liberal Protocol with respect to expediting Family Class immigration application and Visitor Visa applications besides ensuring that the countries that have pledged aid live up to their commitments and those countries that have not offered to help be persuaded to do so. He said that while more humanitarian aid is immediately needed to help those affected by floods in Pakistan, Canadian

Government must also provide development aid to help victims in rebuilding their homes and farmers repair their equipment, reseed their field and rebuild their livestocks besides provide funds for the research and development of crops which will help prevent the destruction of crops in the event of future floods. "The Canadian Government needs to provide assistance in order that micro-credit lending programs can be established to help small enterprises and help alleviate poverty and should continue working with those who have extensive knowledge of Pakistan in order for relief efforts to succeed and engage the Pakistani Diaspora in Canada and grassroots nonGovernment Organisations here and abroad in serious consultations in this regard," he added.

UK to double its aid KARACHI: UK will provide a substantial boost to Pakistan's emergency relief and recovery by committing a further £70 million (nearly 9.5 billion rupees), UK I n t e r n a t i o n a l Development Secretary Andrew Mitchell announced at the United Nations in New York. The announcement comes in response to the United Nations' revised

appeal to provide relief and recovery support for the next 12 months for up to 14 million people affected by the floods. The announcement of £70 million (nearly 9.5 billion rupees) comes in addition to the £64 million (approx 8.5 billion) previously committed, bringing the total UK Government's contribution to £134 million (nearly 18 billion

rupees). Andrew Mitchell made clear Britain was expressing strong support for the appeal from Valerie Amos, Under-SecretaryGeneral and Emergency Relief Co-ordinator at UN OCHA (Office for the Co-ordination of Humanitarian Affairs), and that Britain would do everything it could to help drive forward the UN's relief efforts.-PR

KARACHI:Mourners weep over the dead body of Tanveer Abbas during Funeral prayer Tanveer was killed in recent target killings.-ONLINE

Tuesday, September 21, 2010

Swissie off 4-wk lows against euro ZURICH: The Swiss franc on Monday was trading off the four-week lows recorded against the euro last week, when it was hit by the Swiss National Bank's prediction that the Swiss economy would slow down significantly. The Swiss central bank kept its interest rate target steady at its monetary policy meeting on Thursday, but said growth would slow down in 2011 and revised its inflation forecasts sharply. The franc was trading at 1.3219 against the euro at 0657 GMT on Monday, down from 1.3173 in late New York trading, but well above Friday's four-week low of 1.3390. Earlier in the month, the franc had rallied to 1.2763, its strongest ever against the single currency. The franc was trading at 1.0095 against the dollar, flat from late New York trading on Friday. -Reuters

Dollar falls broadly before Fed; Aussie rallies

cycle that has brought rate hikes this year may be nearing an end. The Thai baht eased to around 30.75 per dollar while most of its Asian peers tracked yen and euro slightly higher. "It might be a bit more quiet this week for the baht but the market is still on guard against any capital control measures," a Bangkok-based trader said. "The baht has recovered most of its losses from last week but people still keep a cautious eye on any measures from the central bank as Finance Minister Korn Chatikavanij has talked about the substantial foreign inflows into the Thai bond market in

Stg hits 7-wk low vs euro on weak data, LONDON: Sterling hit a seven-week low against the euro on Monday after a raft of weak economic numbers highlighted a sluggish UK economic recovery, although buying by some Asian sovereign funds offered support. Bank of England (BoE) data showed lending to UK businesses fell for the fifth month in July and home loan

approvals dropped to their lowest in more than a year. Separately, M4 broad money supply fell by 0.2 per cent on the month in August. "The BoE's lending survey very much maintains concern that tight credit conditions are posing a significant obstacle to economic activity," said Howard Archer, chief economist at Global Insight. "With money supply growth also faltering further in August and the economy showing increasing signs of faltering, pressure is mounting on the

Source CHF GBP CAD CAD USD USD USD

Events Trade Balance Public Sector Net Borrowing Core CPI m/m CPI m/m Building Permits Housing Starts Federal Funds Rate

USD/yen little changed, investors wary of intervention NEW YORK: The dollar slipped broadly on Monday on speculation the Federal Reserve may suggest the need to inject more stimulus into the struggling US economy when it announces its latest policy decision on Tuesday. The possibility of more Fed quantitative easing -- which may push benchmark yields lower, hurting the return of US dollar-assets -- highlighted differences in policy among major central banks, as the Australian dollar hit a two-year high on hawkish Reserve Bank of Australia comments. The greenback traded in a thin range against the yen because of a market holiday in Japan and as investors were cautious of taking big yen positions after Japan's intervention last week to curb the strength of its currency. The Fed is expected to refrain from implementing new steps to

ease monetary policy on Tuesday, while renewing its promise to keep its portfolio of assets from shrinking. "Trading may remain rangebound ahead of tomorrow's

FOMC meeting," said Boris Schlossberg, a director of currency research at GFT Forex in New York. "Markets are wary of both the sovereign debt risk in Europe and the QE risk from the Fed," he added. "However, if the Fed does not alter its language from last month's statement, thus implicitly signaling that QE will

Rupee leads Asian gains on Indian rate rise BANGKOK: The Indian rupee led small Asian currency gains against a defensive dollar on Monday in sluggish trade subdued by a Japanese public holiday, while gold consolidated near record highs. Market expectation of possible further Federal Reserve moves to increase the money supply weighed on the dollar. The Indian rupee rose to a three-month high after the dollar fell in the offshore nondeliverable forwards markets. Indian share market gains also lent support. The Reserve Bank of India raised key rates more than expected last Thursday and signalled that a tightening

Top Economic Events Time 11:15 13:30 16:00 16:00 17:30 17:30 23:15

BoE to revive quantitative easing." By 1503 GMT, the euro rose 0.7 per cent at 84.01 pence, near the day's high of 84.12 pence. Stops-loss orders were triggered on the break of technical resistance at 84.05 pence, with more stops lined up near 84.16, the high on July 27, traders said. Market players will closely

watch public sector finances data on Tuesday, expected to show a modest improvement. Against the dollar, sterling eased 0.2 per cent to $1.5588, roughly 1 cent lower from the day's highs. It briefly fell below support at $1.5560, the 38.2 per cent retracement of the pound's move from its Aug. 9 high of $1.5998 to a low of $1.5296 on Sept. 7. More support was seen at the 50-day moving average at $1.5531 and its 200-day moving average currently at $1.5372. -Reuters

recent weeks," he said. Dolar/baht was bid at 30.74 at 0613 GMT against 30.70 late on Friday. The baht has gained 2.5 per cent in the past month and 8.5 per cent this year. The South Korean won eased against the dollar, tracking local stock weakness and possibly weakened by dollar purchases by a state-run oil company to pay for its acquisition of a British firm. The won stood at 1,161.2 per dollar at 0601 GMT compared with Friday's domestic close of 1,160.5. Trading was slow ahead of a three-day public holiday from Tuesday. Reuters

Suspected cbank move erases gains in Taiwan $ TAIPEI: The Taiwan dollar slipped on Monday because of suspected central bank intervention, erasing earlier gains posted as the US currency weakened globally ahead of a pivotal Federal Reserve meeting. The Taiwan dollar closed at T$31.752 to the US currency compared with Friday's close of T$31.739. The US unit had softened before a Fed meeting on Tuesday to tackle a spotty postdownturn recovery in the world No.1 economy. The US dollar's losses had supported the Taiwan currency until late trade, when it fell on suspected local central bank selling to control market volatility. 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 dollar jumps anew as RBA sounds hawkish SYDNEY/WELLINGTON: The Australia dollar jumped on Monday after the head of the country's central bank gave a clear hint that higher interest rates would likely be needed if the economy accelerates as he expects. The Aussie climbed to $0.9440, from an early $0.9355, to be within striking distance of two-year highs at $0.9469. Support at recent low of $0.9330 with resistance at $0.9430 ahead of $0.9477. Reserve Bank of Australia (RBA) Governor Glenn Stevens did note some external risks to the upbeat outlook, but felt the more likely outcome would be robust growth. "The RBA is preparing the market for higher interest rates," said Roland Randall, a strategist at TD Securities. "However the Governor's comments did not provide much insight into how soon it may take action, other than to suggest that the central bank remains data dependent. He thought the trigger for a move would be the fourth-quarter inflation report due in late January,

thus leading to a hike to 4.75 per cent in February. Interbank futures show a 24 per cent chance of a rise at the RBA's next policy meeting on Oct. 5 and an 80 per cent probability of a move by Christmas. A Reuters poll of 17 analysts taken Friday showed most of them expected the cash rate to top 5.0 per cent by the middle of 2011. Technical analysts at NAB say charts are also bullish for the Aussie as long as it holds above major support at $0.8735. They see targets at $0.9495, $0.9566, $0.9672 and $0.9818. The NZ dollar was at $0.7278, up from an early $0.7247 but short of last week's $0.7395 top. The kiwi has been struggling since the central bank's downbeat view of the economy on Sept 16 sparked a sell-off in the kiwi, as analysts pared back expectations for future rate rises. Markets see 66 basis points of tightening over the next 12 months compared with 79 basis points little more than a month ago. -Reuters

not be an option in the near term, the greenback may strengthen as the week progresses especially if risk aversion flows return." In late morning trading in

New York, the US currency was 0.2 per cent lower against a currency basket, after falling earlier to 81.046, near a five-week low of 80.865 hit last week. The Australian dollar rose more than 1 per cent and touched as high as $0.9469, its strongest since mid-2008, after Reserve Bank of Australia Governor Glenn Stevens sug-

allow faster yuan appreciation. While a trade war is in the interests of neither side, US congressional elections are approaching and many lawmakers want to be seen to be taking a tough line with China. European Union officials are also expected to press China to deliver a promise to make the yuan more flexible. Offshore, dollar/yuan nondeliverable forwards fell to imply more yuan appreciation, with three-month NDFs hitting record lows for the third day. Dealers said short-dated dollar/yuan non-deliverable forwards (NDFs) could drop by 300 to 400 pips from current levels as investors gear up for more yuan gains in the near term. "The short end of the curve has more room to fall in the coming days as that is where most of the offshore bets are positioned," an NDF trader said. Three-month NDFs were bid at 6.6820 in late afternoon trade, down from 6.6970 at Friday's close, with their implied 12-month yuan appreciation rising to 0.43 per cent from 0.30 per cent. -Reuters

India rupee retreats on import demand MUMBAI: The Indian rupee pulled off from three month highs on Monday by dollar demand from oil companies and importers but gains in local shares and broad losses in the dollar boosted sentiment. The partially convertible rupee closed at 45.70/71 per dollar, after touching 45.5850, its strongest since June 21 and 0.3 per cent above 45.835/845 at close on Friday. "There was importer covering plus some profit taking on previous sales in late trade," said Ananth Narayan G., head of fixed income, currencies and commodities, South Asia at Standard Chartered Bank in Mumbai. "But the rupee's move has been sharp, and there is a feeling that in the short run, the market has extended itself a bit. Broadly exporters still haven't hedged enough. Eventually, we will see exporters come in at say 46.00 levels".

Previous 2.89B 3.2B -0.1% 0.5% 0.56M 0.55M <0.25%

Forecast

Previous Day

gested Australian interest rates would rise further. Gains were capped, however, with traders citing talk of a large option being defended at $0.9475 with expiry at the end of the month. A break above there, however, would prompt traders to target the psychological $0.95 level. Data showing a US homebuilder index unexpectedly held steady in September had a limited impact on the dollar. The euro was little changed after climbing to as high as $1.3120, helped by a rise in European shares, though sentiment toward the single currency was still dented by concerns about Ireland's finances. Against the yen, the dollar was 0.1 per cent lower at 85.72 yen, keeping in a tight range after Japan intervened last week, pulling the US currency up from a 15-year low. -Reuters

Yuan up for 8th day, mkt wary of key levels SHANGHAI/HONGKONG: The yuan scored its biggest eight-day gain since January 2008 by Monday as the central bank fixed its mid-point at another post-revaluation high following intense US-led political pressure. But trading turned cautious ahead of concerns the People's Bank of China may slow rises as the yuan approaches the psychologically important 6.7000 mark against the dollar. Many traders, however, remained optimistic that the Chinese currency would rise above 6.6 in the coming two to three months. The yuan closed at 6.7143 to the dollar on Monday, rising 1.19 per cent in eight trading days -- its biggest eight-day gain since January 2008 and the third biggest since the Chinese currency's landmark July 2005 revaluation. US Treasury Secretary Timothy Geithner vowed last week to rally other world powers to push China for trade and currency reforms as he was grilled by lawmakers demanding action to punish Beijing if it fails to

Forecast 1.97B 12.3B 0.1% 0.0% 0.56M 0.55M <0.25%

The rupee strengthened 1.4 per cent last week in its biggest weekly gain in three months after the central bank raised key rates more than expected at its mid-quarter policy review. One-month offshore nondeliverable forward contracts were at 45.87, 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 45.76 and 45.7575 respectively, with the total traded volume on the two exchanges at a high $9 billion. -Reuters

Source

Events

GBP JPY EUR GBP GBP CAD CAD USD

Rightmove HPI m/m Bank Holiday Italian Trade Balance Prelim Mortgage Approvals Prelim M4 Money Supply m/m Foreign Securities Purchases Wholesale Sales m/m NAHB Housing Market Index

Actual

-1.1%

-1.7%

1.75B 45K -0.2% 5.48B -0.1% 13

-1.37B 46K 0.3% 8.11B 0.4% 14

-3.06B 47K 0.4% 5.39B -0.3% 13

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 High 1.3078 1.3120 0.8403 0.8409 1.3143 1.3229 112.13 112.34 1.0052 1.0116 1.0274 1.0346 1.5564 1.5685 133.47 134.44 0.9482 0.9493 1.3437 1.3541 85.37 85.41 1297.87 1283.03 20.81 20.99

Bid 1.3075 0.8400 1.3139 112.1 1.0048 1.0270 1.5561 133.43 0.9479 1.3434 85.31 1278.93 20.78

Low 1.3032 0.8334 1.3117 111.17 1.0031 1.0265 1.5553 133.32 0.9364 1.3430 35.00 1273.48 20.74

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 20/09/2010 A USD GBP CAD EUR JPY O/N 0.22788 0.54875 1.04333 0.39438 SN 0.10375 1WK 0.25150 0.55078 1.06000 0.46000 0.11875 2WK 0.25181 0.55563 1.08333 0.50875 0.12750 1MO 0.25625 0.57000 1.10583 0.57656 0.14250 2MO 0.27313 0.62406 1.17667 0.67375 0.17750 3MO 0.29031 0.73188 1.23833 0.82875 0.22375 4MO 0.34625 0.81734 1.29500 0.92000 0.31000 5MO 0.41313 0.92359 1.35000 1.01313 0.36875 6MO 0.47313 1.02813 1.41333 1.11500 0.42750 7MO 0.52750 1.10469 1.48333 1.16750 0.48563 8MO 0.57750 1.18219 1.56333 1.21875 0.53000 9MO 0.62531 1.26250 1.64500 1.27000 0.58063 10MO 0.67775 1.33938 1.72167 1.31625 0.60750 11MO 0.73188 1.40813 1.82667 1.36313 0.63500 12MO 0.79363 1.47250 1.92000 1.40938 0.66375

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 20,2010 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND

85.85 134.53 112.21 83.22 84.95 80.95 12.16 1.00 14.12 64.35 15.07 22.89 11.06 12.78 299.60 27.65 62.47 23.59 23.37 0.07 2.79

85.65 134.21 111.94 83.03 84.75 80.76 12.13 1.00 14.09 64.20 15.03 22.84 11.03 12.75 298.90 27.59 62.33 23.53 23.32 0.07 2.79

85.47 133.91 111.69 82.81 84.53 80.55 12.10 1.00 14.05 63.03 14.99 22.78 11.00 12.72 298.11 27.52 62.16 23.47 23.26 0.07 2.78

Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for September 20, 2010

CMKA

BMA

INVSR

GSL

ICSL

11.50 11.75 12.25 12.40 12.55 12.65 12.80 12.85 12.90 13.10 13.15 13.20 13.22 13.25 13.25 13.30 13.30 13.30 13.50 13.70

11.40 11.90 12.20 12.40 12.53 12.65 12.80 12.88 12.89 13.15 13.25 13.25 13.30 13.30 13.40 13.40 13.40 13.40 13.60 13.75

11.70 11.90 12.00 12.20 12.50 12.65 12.75 12.80 12.87 13.10 13.20 13.25 13.28 13.28 13.30 13.30 13.40 13.40 13.60 13.75

11.70 12.00 12.30 12.48 12.60 12.78 12.80 12.88 12.90 13.06 13.12 13.15 13.23 13.25 13.30 13.33 13.35 13.40 13.65 13.85

11.50 11.90 12.20 12.40 12.55 12.63 12.72 12.80 12.85 13.18 13.20 13.25 13.30 13.35 13.38 13.38 13.40 13.43 13.55 13.70

0-7days 8-15dys 16-30dys 31-60dys 61-90dys 91-120dys 121-180dys 181-270dys 271-365dys 2-- years 3-- years 4-- years 5-- years 6-- years 7-- years 8-- years 9-- years 10--years 15--years 20--years

JSCM AvgRate 11.60 11.80 12.20 12.40 12.54 12.65 12.75 12.80 12.87 13.10 13.15 13.25 13.28 13.28 13.30 13.30 13.35 13.40 13.60 13.75

11.57 11.88 12.19 12.38 12.55 12.67 12.77 12.84 12.88 13.12 13.18 13.23 13.27 13.29 13.32 13.34 13.37 13.39 13.58 13.75

Currencies Correlation USD/JPY Period 1 1 3 6 1 2

AUD/USD EUR/CHF EUR/GBP EUR/JPY

week month months months year years

0.37 -0.19 -0.68 -0.02 0.01 -0.50

0.90 0.83 0.55 0.89 0.52 0.64

0.49 -0.17 0.14 0.72 0.43 -0.19

0.94 0.76 0.52 0.78 0.50 0.66

EUR/USD GBP/USD 0.72 0.28 -0.51 0.16 0.16 0.04

0.85 0.83 -0.65 -0.53 -0.14 0.21

NZD/USD USD/CAD -0.72 -0.32 -0.32 -0.29 -0.09 -0.46

-0.38 0.02 -0.09 -0.52 -0.27 0.42

Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)20/09/2010 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 11.50

12.00

11.60

12.10

12.60

12.45

12.70

12.50

12.75

13.25

12.90

13.40

13.25

13.75

ABLN 11.75

12.25

11.90

12.40

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

11.60

12.10

11.85

12.35

12.25

12.75

12.60

12.85

12.70

12.95

12.70

13.20

12.70

13.20

12.90

13.40

ASPK 11.65

12.15

11.80

12.30

12.10

12.60

12.50

12.75

12.60

12.85

12.70

13.20

12.75

13.25

12.90

13.40

C I P K 11.65

12.15

11.90

12.40

12.15

12.65

12.40

12.65

12.60

12.85

12.70

13.20

12.90

13.40

13.05

13.55

DBPK 11.40

11.90

11.70

12.20

12.10

12.60

12.40

12.65

12.60

12.85

12.65

13.15

12.70

13.20

12.80

13.30

FBPK

11.40

11.90

11.60

12.10

12.05

12.55

12.45

12.70

12.55

12.80

12.60

13.10

12.70

13.20

12.95

13.45

FLAH 11.60

12.10

11.85

12.35

12.15

12.65

12.50

12.75

12.65

12.90

12.70

13.20

12.80

13.30

12.95

13.45

HBPK 11.60

12.10

11.70

12.20

12.10

12.60

12.50

12.75

12.65

12.90

12.75

13.25

12.80

13.30

12.95

13.45

HKBP 11.60

12.10

11.90

12.40

12.15

12.65

12.50

12.75

12.65

12.90

12.70

13.20

12.75

13.25

12.90

13.40

N I PK 11.80

12.30

12.00

12.50

12.25

12.75

13.00

12.85

13.10

12.95

13.45

13.00

13.50

13.10

13.60

HMBP 11.60

12.10

11.75

12.25

12.75

12.65

12.90

12.80

13.05

12.85

13.35

12.85

13.35

12.90

13.40

SAMB 11.30

11.80

11.60

12.10

12.15

12.65

12.50

12.75

12.65

12.90

12.75

13.25

12.85

13.35

12.95

13.45

MCBK 12.00

12.50

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 11.40

11.90

11.75

12.25

12.00

12.50

12.60

12.85

12.75

13.00

12.80

13.30

12.85

13.35

13.00

13.50

SCPK

12.10

11.80

12.30

12.15

12.65

12.40

12.65

12.55

12.80

12.60

13.10

12.70

13.20

12.90

13.40

11.60

UBPL 11.50

12.00

11.75

12.25

12.15

12.65

12.50

12.75

12.65

12.90

12.70

13.20

12.80

13.30

12.95

13.45

AVE

12.07

11.80

12.30

12.14

12.64

12.50

12.75

12.64

12.89

12.72

13.22

12.80

13.30

12.95

13.45

11.57

Tuesday, September 21, 2010

The Everlasting Commitmentâ&#x20AC;Ś

The Financial Daily International Vol 4, Issue 49

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

Hoping against the hopes Political scenario is getting blurred with each passing day. While some of the quarters believe that some sort or martial law can be imposed, others have started exploring option to bring in-house change. However, the growing consensus is that the erratic and irresponsible attitude of those at the helm of affairs is frustrating the masses ever greater. The elected government over the last two years has made so many horrendous mistakes that people believe that nothing of the like of good governance prevails anymore. The opposition has been making a lot of hue and cry but is, at the same time, unable to table no-confidence resolution against the prime minister and impeaching the president seems next to impossible. Some say, "Friendly Opposition" is a hoax. As in talk shows opposition leaders ruthlessly subject the president, prime minister, ministers and the treasury benchers to indiscriminate "friendly fire", which lays bare how "friendly" the opposition is. On the other hand they also seem powerless in this regard. To remove the prime minister and the president the opposition must show simple as well as two-third majority respectively. PML-N may enjoy a significant number in the national assembly but can't push no-confidence motion fearing treasury benchers would indulge in worst horse-trading. Another concern is the unimplemented orders are likely to force Supreme Court take Army's help for the implementation of the same. If the apex court opts for this extreme step, it would be some sort of Judicio-Military martial law, something bound not to draw any appreciation. The idea of holding mid-term elections under the prevailing precarious law and order situation and ongoing war on terror now being fought within Pakistan's borders does not bode well. Holding local bodies' (LB) elections can help some positive change come but the two leading political parties may scorn at the option. The general perception is that PPP and PML-N may not succeed in forming city district governments in major cities. This is one of the whys they disfavour LB polls. However, this undertaking, if taken under consensus, would be a test case for the two 'Charter of Democracy' signatories. Devolution of power to district level is real and grassroots democracy. Now it is up to these political giants to let the concept of district government flourish making people feel democracy prevails at their "level".

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.

Shazia Marri Minister Tourism Sindh

Men are what their mothers made them," said Ralph Waldo Emerson. I wish to take this a step further. Men and women are what their parents made them. Their traits, their habits, their brains, their likes, their dislikes, their values, their ethics - all are byproducts of a combination of their genes and their upbringing. Today dear Chairman, on your birthday, you don the mantle of responsibility shouldered by three generations of your family. A responsibility which your grandfather shouldered as a young man, and which was thrust upon your mother when she was barely older than you. A responsibility your father has undertaken a responsibility which is ultimately yours. No, this is not your birthright. What it is - is your obligation. The obligation to serve the people of this country. Yes, it is a dangerous job. Had it not been, you would

not have lost your grandfather when he was merely 51 and your mother at 54, both to the hands of assassins who desperately wanted to thwart their plans for Pakistan's development; and your father would not have spent years in unjust incarceration while various means were tried to eliminate him. Indeed it is perhaps the most dangerous of jobs. Yes, it is a thankless job. Had it not been, your parents and your grandfather would not continue to be victims of slander despite insurmountable evidence to the contrary. They would not have been maligned for giving Pakistan the nuclear might, a unanimous Constitution, infrastructure, industry, international credibility, and fiscal strength. They would not have been defamed for efforts to reconcile in the nation's interest, for working ceaselessly towards democracy, for promoting

free will. Yes, it may well be the most thankless of all jobs. Yes it is a demanding job. Had it not been, your par-

which will bring to you some form of solace in the absence of your mother; and bring to her the satisfaction of knowing that she did not

She was our leader, our mentor, our saviour. But to you, she was that and so much more. While the people of Pakistan pinned their hopes on her, she pinned hers on you - her offspring. Her hopes, dreams and aspirations, for her beloved country, she left to you. While we looked at her to secure Pakistan's future, she looked at you - today we too look at you dear Chairman - as Pakistan's future. ents would have been able to spend more time with you and your sisters, as was their greatest desire. A desire which had to be subdued for those they considered most important - the people of Pakistan. But this dangerous, thankless, and demanding job Mr Chairman is what the future holds for you. It is a role you must live up to; A responsibility you must shoulder; a commitment you must keep. It is the shouldering of this responsibility

lose her life in vain and that her country and her people are cared for by her child. As a mother I can understand her infinite love for you. Indeed I don't know if it is possible for anyone but a mother to understand the unconditional love that the birth of a child kindles in his/her maternal parent. The desire to protect one's progeny, from any and all perceived dangers; To provide the best of everything possible; To spend every waking

moment with that miracle of God, which He so graciously bestowed on a mere mortal. Such was your mother's love for you. As a daughter I can understand that your pain too is limitless. Pain at not seeing her beside you as you blow out your birthday cake candles; pain at the knowledge that you never will. To the people of Pakistan, Mohtarma Benazir Bhutto was many things. She was our leader, our mentor, our saviour. But to you, she was that and so much more. While the people of Pakistan pinned their hopes on her, she pinned hers on you - her offspring. Her hopes, dreams and aspirations, for her beloved country, she left to you. While we looked at her to secure Pakistan's future, she looked at you - today we too look at you dear Chairman as Pakistan's future. Today, as you celebrate your birthday without her, you will remember all the ones before now, when it was just her. The contrast is stark, the void unbearable. But while her physical absence leaves an agonising emptiness, there is one thing I am sure of. As a mother, I know that she can never entirely leave her children, and somewhere she too, is wishing you, her first-born a happy birthday!

Canola Promise for the Floodzones Mohammed Arifeen he advice given by the Ministry of Food and Agriculture to sow canola in flood affected areas is well-timed and anticipated to yield productive results if it is successfully implemented in true spirit. At this critical juncture of economic crisis the country needs, on a vast scale, canola sowing in order to reduce the high edible oil import bill. This is a great opportunity for farmers to get employment and improve their standard of living. In this regard the provinces can make a significant contribution to the national economy by encouraging farmers to grow canola in the flood affected areas. This is one of the best ways to revitalise the livelihood, income, and welfare of not only the farmers but also those who will be directly or indirectly engaged in production. In an attempt to revive the agriculture sector which is badly hit by the recent floods the government has announced a canola sowing policy. According to the Ministry of food and Agriculture has, under the initiative, increased the procurement price of canola Rs1800 per 40 kilograms from the past Rs1600 per 40 kilograms. Canola would be sowed over one million acres in the flood affected areas throughout the country to be utilised for edible oil sowing. The farmers on the other hand will be given credit with subsidy to enable them to sow canola in the flood-zones. The federal government with the support of solvent

industries would support lying vacant particularly in for the government to fix the farmers in various Balochistan and Sindh that an agreeable price as it's fields. The seed companies can be fruitfully utilised done in the case of wheat. would provide canola for cultivating canola The government has kept seeds at subsidised rates seeds. It requires minimum the selling price at around through Zarai Taraqiati three irrigations at the time Rs1800 per 40 kilogram as Bank Limited (ZTBL). The of its sowing, flowering against Rs950 of wheat per 40 kilogram. A mechanism government would make and seed formation. Canola requires simpler should be evolved for a available 25 per cent canola seeds free of cost harvesting and threshing reasonable selling price of for the farmers. Farmers in operations. Three stages canola. The government the flood affected areas are involved in Canola oil needs to resort to a massive would be given seeds and extraction. First stage in campaign to make this crop other inputs on deferred processing canola is to roll successful. In this context the govor flake the seed. Second payment pattern. Canola is not a compli- stage is to cook the rolled ernment should work amicated crop and it does not or flaked seeds and remove cably particularly with the require specialised training some of the oil and com- Punjab government for the sowing of for wheat growing farmers press the seeds into large successful canola crop. in the The Punjab f l o o d Canola is not a complicated government is affected croplands. crop and it does not require p r e s e n t l y preparing the It can be specialised training for wheat most detailed planted on subsidy proall varigrowing farmers in the flood gramme for eties of wheat crop for l a n d affected croplands. It can be the flood affecte x c e p t saline and planted on all varieties of land ed areas, which includes finans a n d y ones. Its except saline and sandy ones. cial assistance on almost all cultivation Its cultivation is easy and requirements of is easy crop -seed, land a n d requires no sophisticated preparation and requires fertiliser. It is no sophismethods. Water and fertiliser now to be ticated observed that methods. needs are limited which with the masWater and make it even more attractive. sive amount of fertiliser subsidy comneeds are Due to its maximum merits it mitted to wheat limited growing, how w h i c h faces very little competition successful the make it federal governm o r e from traditional cereal crops. ment campaign attractive. would be for Due to its maximum merits it faces chunk called "cake frag- growing canola in Punjab. Pakistan Oil Seed very little competition ments". In the third stage from traditional cereal cake fragments undergo Development Board has further processing and evolved new kinds of crops. In Pakistan it can be that's where most of the oil canola with indigenous grown in all the provinces is removed. The oil is then resources. These are synof the country. The concept subjected to the end thetic and hybrid varieties. of adequate training to requirement. The process It is found that canola varifarmers regarding canola of oil extraction from eties produced in Pakistan sowing in the flood affect- canola seed is rather sim- have shown better pered areas does not arise as ple and less time-consum- formance than the importthis edible oil crop can be ing. Canola seeds are ed ones being cultivated at places in grown with the proper pressed for oil, the hard different guidance of trained person- (called canola meal) is Pakistan. The local seeds nel. Not to speak of grow- used for the feed of cattle, have reduced the high cost and benefited the farmers. ing canola in the flood goat, sheep, poultry, etc. For the promotion of These can be well-utilised affected areas there are huge barren tracts of land canola crop it is necessary in the flood affected areas

â&#x20AC;&#x153;

with better results. Pakistan being an agricultural country faces a considerable shortage of edible oil. Currently, indigenous kinds of rapeseed and mustard are not used largely in the manufacturing of vegetable oil as they comprise a substantial level of glucosinate and erucic acid which are detrimental to health. The edible oil import bill is increasing without any stoppage and this is causing a huge burden on the country's valuable foreign exchange. During the last two decades edible oil imports showed an average annual growth rate of 14.3 per cent per annum. Its share in total import increased from 3.1 per cent in the fiscal year 2001-01 to 4.2 per cent in the financial year 2007-08. The total demand for palm oil was 3 million tonnes and the local production was only 0.8 million. The rest 2.2 million is met through bulk imports costing $2.2 billion per year. Pakistan produces only 30 per cent of its edible oil while the rest 70 per cent is sourced from outside. Canola sowing in the flood-struck areas seems to be the most promising a move for increasing domestic requirement. Canola has better prospects of cultivation to a certain extent as replacement of the existing approximately 40 per cent of the existing acreage under traditional rape and mustard kinds. In the present situation the government initiative to grow canola in the flood affected areas will be successful. With sincere efforts more favorable or new locations can be explored for economical cultivation of canola. Pakistan with a continuous surge in palm oil import bill and its sideeffects has no choice but to patronise canola on a vast scale.

Tuesday, September 21, 2010

European shares close higher; oils gain

Philippines at record high; other SEAsian stocks mixed US stocks mid-morning

KSE-100 Index Opening Closing Change % Change Turnover (mn)

10,052.97 10,063.58 10.61 0.11 65.05

Mkt gains 1pc ahead of monetary policy meet

LSE-25 Index Opening Closing Change % Change Turnover (mn)

3,172.71 3,164.48 8.23 0.26 4.28

ISE-10 Index Opening Closing Change % Change Turnover (mn)

2,591.49 2,602.25 10.76 0.42 0.20

Major Gainers

Symbol

Change

ULEVER 4,000.00 COLG 717.13 IDYM 256.75 LAKST 210.09 SIEM 1,114.00

40.74 34.14 11.25 10.00 7.66

Major Losers

Symbol

Change

NESTLE 1,856.35 FZTM 343.26 SAPT 116.66 HINO 115.00 FEROZ 105.87

-24.15 -18.06 -6.14 -3.98 -3.63

Top 5 Volume Leaders

Symbol

Close Vol (mn)

LOTPTA NPL NJLIC AHSL NML

8.80 11.53 43.17 23.57 48.76

10.26 5.65 5.46 3.28 2.94

Active Issues Plus Minus Unchanged

176 202 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

MUMBAI: Indian pedestrians walk past a digital display on the facade of the Bombay Stock Exchange (BSE).-Reuters

Sensex scales 32-mth high on funds MUMBAI: Rising foreign fund inflows, which propelled Indian shares to scale a fresh 32-month peak for the sixth straight session on Monday, also raised concerns whether the market was rising too soon too fast. Financials led the rally, which saw the benchmark index close 1.6 per cent higher, on robust loan demand outlook. The 30-share BSE index rose 1.59 per cent or 311.35 points to 19,906.10, with 25 of its components closing in the green. It touched 19,927,30 points intraday, its highest since January 2008. Advancing shares outpaced declining ones in the ratio of 1.5:1 in relatively higher volume of 542 million shares. The 50-share NSE index climbed 1.6 per cent to 5,980.45 points. "The biggest push is the huge amount of money that is com-

ing in from overseas," said Krishna Sanghavi, head of equities at Kotak Asset Management. "Though all rationale as to economic growth and earnings growth is in place, the concern is we are seeing too much money coming in a bit too fast." State Bank of India gained 0.4 per cent while ICICI Bank and HDFC Bank climbed 1.2 per cent and 1.9 per cent respectively. ITC climbed as much as 5.9 per cent to 178.30 rupees, its highest level in at least 20 years, helped by robust domestic consumption. Reliance Industries climbed 1.3 per cent, as it caught up with the broader market rally after the recent underperformance. "The stocks which had missed out on the broader rally are now catching up," said See # 19 Page 11

NEW YORK: The S&P 500 hit a four-month high and all three major indexes rose one per cent on Monday as Wall Street sought to extend a threeweek rally ahead of Tuesday's monetary policy meeting by the central bank. The Dow Jones industrial average was up 113.30 points, or 1.07 per cent, at 10,721.15. The Standard & Poor's 500 Index was up 12.29 points, or 1.09 per cent, at 1,137.88. The Nasdaq Composite Index was up 29.04 points, or 1.25 per cent, at 2,344.65. The Federal Reserve is expected to renew a promise to keep its portfolio from shrinking but not seen taking new steps to ease monetary policy. US stocks held gains despite a survey that showed US homebuilder sentiment held steady in September, pointing to a stillweak housing market. "It was a little less than expected, but that's not surprising. You'd hope to get some recovery in housing, but that's not going to happen soon. The whole bubble began with real estate, and it remains the big issue for the economy," said Cliff Draughn, president and chief investment officer at Excelsia Investment Advisors in Savannah, Georgia. The Dow Jones home construction index gained 3.4 per cent. Lennar Corp posted a better-than-expected third-quarter profit, sending its shares up 6.6 per cent to $14.91. Netezza Corp advanced 13 per cent to $27.68 after International Business Machines Corp agreed to buy the software and business analytics company for $27 per share, or about $1.7 billion. IBM was up one per cent at $131.46. On the downside, International Paper Co fell See # 18 Page 11

KSE tad up with thin turnover Nawaz Ali KARACHI: Shares ended tad higher at Karachi Stock Exchange (KSE) on Monday with low volumes as investors preferred to be on the sidelines waiting for the outcome of SECP Chairman's meeting with KSE officials and on fears of increase in interest rates in the

in petroleum sector kept strong investor interest the sector throughout the trading session despite concerns for deteriorating security situation in the city," said an expert. But investor participation was restricted as they preferred to be on the sidelines waiting for the outcome of the meeting of SECP chairman Salman

Top bourse invites membership bids Staff Reporter KARACHI: Karachi Stock Exchange (KSE) invited bids to sell the membership rights of the exchange. According to a notice issued by KSE, bids are invited from the eligible individuals, and corporate bodies, financial institutions/banks (local and foreign). Any offer, if accepted, shall be subject to the terms and conditions and the membership criteria of the exchange which is available on exchange's website, it said. The last date to send the bids is September 27, 2010 up to 5:00 pm.

SECP moots initiatives KARACHI: A meeting of the Securities and Exchange Commission of Pakistan (SECP), member directors of the Karachi Stock Exchange Board and some prominent market participants was held on Monday to discuss various market developmental initiatives. Deliberations were held on some aspects of the margin trading product recently approved by the SECP and it was agreed that during the course of developing the regulatory framework due consideration will be given to the operational and business aspects to avoid any inconsistency/impracticality. Also, governance-related matters of the stock exchange came under discussion and it was agreed that the SECP would review the matter jointly with the exchange's representatives to address issues in light of best international practices and in the interest of the market. See # 15 Page 11

FTSE climbs 1.7pc on risk appetite

LONDON: Britain's leading upcoming monetary policy. Shiekh with member directors share index extended early The benchmark KSE 100- of KSE and some prominent gains to close strongly on index closed 10 points up at market participants to discuss Monday, after US market bulls 10,063 points, KSE 30-index various issues including MTS helped London to its highest fell 44 points to 9,826 points modalities, demutualization close since late April. The FTSE 100 closed up and KSE all-share index grew etc. seven points to 7,029 points. On the other side, the fears of 94.09 points, or 1.7 per cent, at Samar Iqbal, equity dealer at an increase in interest rates in 5,602.54, more than reversing Topline Securities said that the the upcoming monetary policy the 0.6 per cent decline in prevailing uncertainty over too kept the investors away. Friday's session after risk ongoing meeting of SECP and Finally, index ended the ses- appetite made a strong return. "Traditional defensives have KSE and upcoming monetary sion with a marginal gain. policy announcement kept It should be noted SECP last enjoyed their day in the sun, with investors taking the view investors on the sidelines. week gave the much awaited The day started on a positive approval to the concept of that Friday's sell-off was overnote at 41 points up and soon MTS with additional risk miti- done," said Yusuf Heusen, senindex touched an intraday high gating measures. But it didn't ior sales trader at IG Index, of 10,096 points. Thereafter, disclose those additional risk referring to demand for divimarket showed moves in a lim- mitigating measures which cre- dend-yielding stocks. "It has been a well supported ited range giving a couple of ated uncertainty among market rally from a mix of sectors, visits to red zone and at a participants. moment index touched its lowForeign investors were main- with cruise operator Carnival est level of the day of 10,035 ly on the buying side. the strongest blue chip ahead of points (-ve 17 points). According to NCCPL, they did tomorrow's update," he added. Carnival ended the day the However, it managed to recov- a net buying of $0.56 million. er and stayed in the positive On the local side, banks and top FTSE 100 gainer, up five zone till the end of the day due companies did a net buying of per cent. Gains for oil major BP fuelled to continued support in oil $1.67 and $0.4 million respecstocks. tively while mutual funds and the rally earlier in the session "Expectations of deregula- individual investors did a net after the firm announced it had tion of petroleum products selling of $1.73 and $0.98 mil- permanently killed the Gulf of Mexico oil well that began prices and release of funds to lion respectively. See # 16 Page 11 See # 17 Page 11 Ltd rose 1.4 per cent, while PSO easing circular debt crises Henderson Land Development Co Ltd firmed 1.5 per cent. "With low transaction volumes and seemingly flat prices, the government's attention appears to have shifted Azam Khan, Sunrise Capital from curbing prices to supplying housing for the struggling Outlook of the market is neutral to positive and 10,000 will be the bottom levels lower-middle class," said ana- while 10,500 will be the upper level which index can touch on clearance of uncertainlysts at Samsung Securities in ties over the amendments made in Margin Trading System (MTS). Investors should invest in regular undervalued stocks like POL, ENGRO, NML, and MCB while they a note. Analysts at Samsung remain should avoid 2nd and 3rd tier stocks. They are also advised to invest 80 per cent and positive on the sector and retain 20 per cent for trading opportunities. I do not expect any increase in the interexpect primary market sales to est rates as it will be the first monetary policy of the new State bank governor and pick up in late September with there is much pressure on him. Therefore, status-quo in the interest rates will be a new launches from Cheung major trigger for the market while good corporate results and clearance of MTS related ambiguities will also support the market. Market will be positive today. Kong and Sun Hung Kai. Shares of BYD Co rose 5.7 per cent. Morgan Stanley raised its rating on the stock to "overweight" from "equalweight" citing compelling valuations and potential upside from the company's renewable energy business. Tsingtao Brewery extended Syed Faran Rizvi, Invisor Securities its gains, rising 0.5 per cent to an all-time high of HK$46.2, Market is consolidating near its 23.6 per cent retracement level ahead of the Mid-Autumn of the current rally. We forecast bullish trend in the market and Festival holidays in China. China will see two major recommend traders to buy and order stop loss at the level of national holidays in the next 9,864 points. Closing above 10,150 points will give strength to three weeks, during which the the bulls and will take the index to the next target of 10,290 market will be open for only a combined seven trading days, points. We recommend investors to take positions in energy and with two weeks having either OMC sectors. Market will remain bullish today. one or two days. -Reuters

Hong Kong flat; Shanghai at 5-wk low HONG KONG/SHANGHAI: Shares in Hong Kong closed flat while Shanghai shares slipped on Monday in thin volumes as investors trimmed positions ahead of regional holidays and with US markets offering little direction. Hang Seng Index closed little changed at 21,977.3 near a five-month high, while Shanghai Composite Index dipped 0.4 per cent to a fiveweek closing low ahead of long holidays starting this week with gains in financials not big enough to offset losses in small caps which succumbed to profit-taking. "The thin volume shows investors have no intention to buy shares ahead of the holidays," said Chen Shaodan, an analyst at China Development Bank Securities in Beijing. Analysts said investors were selling shares to raise cash ahead of the long MidAutumn Festival and National Day holidays starting on Wednesday and to limit their exposure over the next three weeks. Turnover in Shanghai fell to a three-week low at 90 billion yuan ($13.40 billion) on Monday from 94 billion yuan

on Friday. Banks recovered some of last week's losses which came on the back of speculation that the authorities would impose more stringent capital requirements on China's financial institutions. Industrial and Commercial Bank of China (ICBC) was up 0.3 per cent. Beijing Bank was up 0.9 per cent while Bank of Communications gained 1.6 per cent. Those gains were not enough to keep the broader market in positive territory as investors preferred to lock in gains in sectors that had recently outperformed, such as pharmaceuticals. Drug makers were among the biggest losers with Hangzhou Tian-Mu-Shan Pharmaceutical dropping by its 10 per cent daily limit, while S&P Pharmaceutical fell 9.1 per cent. In Hong Kong, large-cap local property developers advanced, led by Li Ka-shingcontrolled Cheung Kong Holdings Ltd, underpinning the broader market with property prices holding up despite transaction volumes remaining low. Cheung Kong rose 1.6 per cent. Sun Hung Kai Properties

Dhiyan

INVEST IN UNDERVALUED STOCKS

ANNOUNCEMENTS Company Ghani Glass Limited Biafo Industries Ltd Ferozsons (Lab) Golden Arrow National Foods F.Cap.Mut.Fund

Period Yearly Yearly Yearly Yearly Yearly Yearly

Div/Bon/Right 25%(D) 10%(B) 25%(D) 20%(B) 17%(D) 12%(D) -

PAT (Rs in mn) 947.20 112.33 317.54 140.61 86.56 27.92

EPS(Rs) 9.77 5.62 15.24 0.92 2.09 0.93

Tuesday, September 21, 2010

Market Suspend 65,048,680 2,267,162,956 39,365

Paid up Cap(mn)

Advanced Declined Unchanged Total

Current High Low Change

176 202 25 403

Open

High

High Low 1,257.54 1,242.11 Total cos Defaulter cos P/BV (x) ROE (%) 4.01 37.01 Low

Close Chg

330.51 325.26 328.72

Close Change 1,248.72 6.01 Listed cap Market cap 65,194.15 mn 1,010,881.55 mn Payout (%) Div Yield (%) 68.56 6.33 Last 60 days High Low

Volume

% Change 0.48 5-Day High 1,248.72 5-Day Low 1,233.70

2009 Div BR (%) (%)

2010 Div BR (%) (%)

576

5.93 325.24

3.48

144927

330.51

281.00

250

100

9.58

85.52

86.90

84.95

85.43 -0.09

895078

93.60

73.47

3921

10.85

11.18

10.90

10.96

0.11

1299666

13.05

9.62

Mari Gas Company

735 16.74 122.97

124.90 123.13 123.53

0.56

17633

138.45

112.80 32.17 100B

National Refinery

800

203.01 199.05 200.79 -3.14

35139

207.00

182.01

125

Oil & Gas Development XD 43009 10.07 145.49

146.90 145.20 145.92

0.43

210140

153.00

133.00

82.5

Pak PetroleumXDXB

P.S.OSPOT

6.12 203.93

11950

5.47 172.43

176.00 173.51 174.52

2.09

825774

214.10

173.51

130

20B

2365

7.03 237.87

240.01 237.75 238.21

0.34

1199022 240.01

209.99

180

350 1715

Current High Low Change

KMI 30 Index Current High Low Change

9,826.06 9,875.46 9,813.12 i44.59

15,740.04 15,763.85 15,687.59 h52.45

INDUSTRIAL TRANSPORTATION

853

Pak Refinery Limited

KSE 30 Index

7,029.53 7,050.49 7,012.99 h7.17

Performance of SR Industrial Transportation Index

Attock Petroleum

Pak Oilfields

Current High Low Change

OIL AND GAS

Attock Refinery BYCO Petroleum

All Share Index

10,063.58 10,095.48 10,035.36 h10.61

Performance of SR Oil and Gas Index Open 1,242.72 Turnover 3,927,370 P/E (x) 10.83 Company

KSE 100 Index

Symbols

Status Volume Value Trades

58.98

4.59 268.68

Shell Gas LPG

226 13.58

Shell Pakistan XD

685 10.04 195.01

31.00

61.92

59.50

61.92

271.50 269.00 270.98 31.65

29.46

2.94 2.30

30.14 -0.86

198.90 194.75 195.84

0.83

18916

82.00

572839

289.45

48.26 233.10

Open 714.08 Turnover 19,751 P/E (x) 5.77 Company

Paid up Cap(mn)

Pak Int Cont. Terminal XD 1092 PNSC 1321

Open

High

Low

8.48 5.31

69.99 38.50

70.00 39.50

69.00 38.50

41.49

27.32

4926

246.90

190.00

330

Close Chg 69.08 38.92

-0.91 0.42

Close 708.70 Listed cap 3,242.17 mn Payout (%) 11.08

Change -5.38 Market cap 12,933.96 mn Div Yield (%) 1.92

Volume

Last 60 days High Low

731 19020

87.86 41.74

67.62 34.50

Open 1,151.55 Turnover 12,694,194 P/E (x) 7.20 Company

High Low 1,159.25 1,142.68 Total cos Defaulter cos P/BV (x) ROE (%) 2.52 35.00

Close 1,151.51 Listed cap 52,251.88 mn Payout (%) 48.81

Change -0.04 Market cap 260,510.36 mn Div Yield (%) 6.78

Paid up Cap(mn)

Open

High

Low

Close Chg

Volume

Last 60 days High Low

200

5.98

32.00

33.60

33.50

33.60 1.60

10582

39.20

9.66

72.28

75.89

72.00

75.89 3.61

Biafo Ind BOC (Pak) XD

250

Dawood Hercules

1203

Descon Chemical

1996

7.93 173.51 -

2.30

Open 1,070.90 Turnover 79,071 P/E (x) 4.04 Company

Paid up Cap(mn)

Open

66.90

155.38

10B

1.78

4.14 0.06

10613

1.59

1.52

1.47

1.51 -0.08

417889

11.50

11.48

11.50 0.00

Fatima Fertilizer

22000

Fauji Fertilizer XD

6785

Fauji Fert. Bin Qasim XD 9341 Ghani Gases Ltd

725

ICI Pakistan XD

1388

Lotte Pakistan

15142

Nimir Ind Chemical

9.63

7.20 105.99

181.20 177.11 179.58 0.86

3.15

11.50 12.36

82.50

185.88

861

4.29

9.21 178.72

5.45

9000

3.20

2.21

1.41

13.60

10.85

868175

194.59

165.60

12.38

12.20

12.24 -0.12

81810

12.75

9.57

6010B 40R - 27.5R

9.75

9.27

9.55 -0.08

536948

12.80

9.02

106.25 105.51 105.83 -0.16

130828

113.39

102.75 131.5

10B

7.04

28.01

28.10

27.61

27.67 -0.34

241177

30.65

25.70

8.61

9.61

8.50

9.61 1.00

145349

11.45

7.41

124.50 122.53 123.98 -0.13

341941

128.30

109.50

7.39 124.11 3.06

8.52

8.90

8.50

8.80 0.28

10258979

9.09

6.75

1106 75.00

1.50

1.54

1.42

1.50 0.00

113623

1.81

1.16

2.57

2.75

2.50

2.72 0.15

3862

3.80

2.00

Shaffi Chemical

120

Sitara Peroxide

1.30

551

8.97

8.96

8.72

8.94 -0.03

16332

11.09

8.22

United Distributors

3.56

17.40

17.80

16.50

16.50 -0.90

1232

17.99

14.00

10B

Wah-Noble

4.62

44.69

45.35

44.69

45.11 0.42

3810

48.00

41.10

FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,213.46 Turnover 96,722 P/E (x) 6.40 Company

High Low 1,227.36 1,194.61 Total cos Defaulter cos P/BV (x) ROE (%) 0.48 7.47

Close 1,197.89 Listed cap 1,186.83 mn Payout (%) 25.28

Paid up Cap(mn)

Open

High

Low

Close Chg

Volume

707 38 411

6.19 4.68

21.30 58.86 40.00

21.49 60.00 40.50

20.80 58.52 39.60

20.86 -0.44 59.51 0.65 39.61 -0.39

85955 9155 1612

Century Paper Pak Paper Product Security Paper

Change -15.57 Market cap 3,335.32 mn Div Yield (%) 3.95

Last 60 days High Low 22.70 60.12 50.40

15.76 41.21 38.50

Agriautos Ind Atlas BatteryXDXB Dewan Motors General Tyre XD Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus MotorsSPOT Sazgar Engineering

% Change -1.28 5-Day High 1,213.46 5-Day Low 1,197.89

2009 Div BR (%) (%)

2010 Div BR (%) (%)

- 425R 20 50 -

2533.33B 50 -

Company

Paid up Cap(mn)

Crescent Steel XD Dost Steels Ltd Huffaz Pipe International IndXDXB Siddiqsons Tin

565 675 555 1199 785

High Low 1,021.30 990.78 Total cos Defaulter cos P/BV (x) ROE (%) 1.10 33.10

Open

High

Low

3.37 5.86 4.96 7.02

25.49 2.20 14.04 52.32 9.87

25.00 2.30 14.15 52.25 10.24

24.50 2.00 13.81 50.50 9.90

Close Chg 24.90 2.20 14.00 50.98 9.90

-0.59 0.00 -0.04 -1.34 0.03

Close 1,003.06 Listed cap 3,596.11 mn Payout (%) 30.91

Last 60 days High Low

Volume 3404 4406 1901 15685 7143

31.73 3.20 16.00 70.71 11.25

24.30 1.90 13.00 48.51 8.20

% Change -1.94 5-Day High 1,022.93 5-Day Low 1,003.06

2009 Div BR (%) (%) 10

30B -

High

High Low 1,085.91 1,061.52 Total cos Defaulter cos P/BV (x) ROE (%) 1.02 25.35 Low

Close Chg

20B -

CONSTRUCTION AND MATERIALS Performance of SR Construction and Materials Index Open 930.60 Turnover 4,838,713 P/E (x) 6.85 Company

Paid up Cap(mn)

Al-Abbas Cement

Open

High

High Low 942.29 910.97 Total cos Defaulter cos P/BV (x) ROE (%) 0.49 7.10 Low

Close Chg

Close 919.77 Listed cap 54,792.74 mn Payout (%) 19.04

Change -10.83 Market cap 68,817.30 mn Div Yield (%) 2.78

Last 60 days High Low

Volume

% Change -1.16 5-Day High 955.95 5-Day Low 919.77

2009 Div BR (%) (%)

2010 Div BR (%) (%)

1828

3.65

3.60

3.28

3.44 -0.21

30383

4.69

2.82

Attock Cement

866

4.90

68.49

69.86

68.00

69.09 0.60

148681

72.40

63.00

20B

17.5

Berger Paints

182

16.53

17.47

16.00

16.98 0.45

8008

20.00

15.42

- 122R

14 14.18

12.93

13.19

11.93

13.19 0.26

152

15.83

11.01

Buxly Paints

Cherat Cement

956

11.20

11.68

11.40

11.59 0.39

18899

12.50

8.90

Dadabhoy Cement

982 12.08

1.65

1.69

1.52

1.57 -0.08

2542

2.74

1.50

Dadex Eternit

108

22.53

23.65

23.65 1.12

900

32.90

21.77

Dewan Cement

3574

1.50

1.56

1.39

1.45 -0.05

314832

2.20

1.39

DG Khan Cement Ltd

3651 34.67

25.30

25.39

24.82

24.96 -0.34

2090740

28.74

23.02

20R

Fauji Cement

6933 13.13

5.25

5.40

5.16

5.25 0.00

284749

5.50

4.50

Flying Cement Ltd

1760

Gharibwal Cement

2319

3.04

3.90

2.56

2.68 -0.36

581

59.00

58.99

56.10

56.13 -2.87

Javedan Cement Kohat Cement

1288

Lafarge Pakistan Cmt.

2.11

6.20

2.10

6.21

2.03

6.15

2.08 -0.03

6.19 -0.01

11297

2.37

487913 101 74597

1.75

8.34

2.56

66.10

56.10

7.38

5.70

- 200R

13126

2.89

3.01

2.80

2.96 0.07

562926

3.53

2.60

Lucky Cement

3234

6.39

71.70

72.25

70.90

71.13 -0.57

333284

73.88

61.29

Maple Leaf Cement

3723

3.15

3.20

3.11

3.20 0.05

56437

3.84

3.00

Pioneer Cement

2228

8.10

8.25

7.96

7.96 -0.14

8784

8.39

5.60

Shabbir Tiles

361

10.10

9.10

10.10 0.00

3455

12.23

8.10

Thatta Cement

798

19.65

19.99

19.00

19.00 -0.65

400015

21.80

17.74

GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 902.25 Turnover 139,739 P/E (x) 2.61 Company Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Tri-Pack Films

Paid up Cap(mn)

Open

92 4.63 48.97 230 2.05 970 6.09 60.00 389 2.98 47 - 14.40 844 16.23 109.97 300 8.03 99.99

High

High Low 906.48 885.47 Total cos Defaulter cos P/BV (x) ROE (%) 1.15 43.91 Low

Close Chg

50.00 48.50 48.56 2.10 1.85 2.00 61.50 57.75 59.49 3.14 2.80 3.10 15.00 13.45 14.89 108.50 107.00 107.14 100.45 100.00 100.00

-0.41 -0.05 -0.51 0.12 0.49 -2.83 0.01

Close 894.58 Listed cap 3,043.31 mn Payout (%) 15.55

Volume 46912 3514 79979 504 3951 2950 1890

Change -7.67 Market cap 33,082.56 mn Div Yield (%) 5.96

Last 60 days High Low 51.05 2.89 61.50 4.69 20.70 125.96 105.00

28.87 1.85 54.65 2.21 11.81 106.05 91.00

% Change -0.85 5-Day High 906.91 5-Day Low 894.58

2009 Div BR (%) (%) 30 32.5 100

10B -

2010 Div BR (%) (%) 20 25 -

25B 10B -

Company

Paid up Cap(mn)

Abdullah Shah Ghazi Sugar 793 AL-Noor Sugar 186 Bawany Sugar 87 Colony Sugar Mills 990 Habib Sugar 600 Habib-ADM Ltd 200 Hussein Sugar 121 Ismail Ind 505 J D W Sugar 490 National Foods 414 Noon Sugar 165 Pangrio Sugar 109 Punjab Oil 38 Quice Food 107 S S Oil 57 Sakrand Sugar 223 Shahmurad Sugar 211 Shakarganj Mills 695 Tandlianwala 1177 UniLever Pakistan XD 665

Close 1,075.22 Listed cap 6,768.53 mn Payout (%) 20.42

Volume

Paid up Cap(mn)

Open

Ghandhara Ind KSB Pumps

213 132

2.57 8.02

17.45 83.50

Millat Tractors

293

7.40 573.20

Company

Close 1,418.67 Listed cap 1,336.62 mn Payout (%) 131.49

Change 6.46 Market cap 31,257.81 mn Div Yield (%) 14.94

Last 60 days High Low

% Change 0.46 5-Day High 1,424.09 5-Day Low 1,412.20

2009 Div BR (%) (%)

2010 Div BR (%) (%)

High

Low

Close Chg

Volume

18.44 80.50

17.65 80.05

18.31 0.86 80.50 -3.00

79330 231

20.24 91.00

15.26 61.57

76436

597.90

466.00

450

25B

650

25B

580.25 572.50 577.30

4.10

Change 4.32 Market cap 39,677.61 mn Div Yield (%) 5.06

Last 60 days High Low

6418 5234 17633 2504 18314 1123 3110 18001 6590

78.39 209.00 2.24 28.80 6.60 5.70 14.50 287.00 27.85

63.01 140.30 1.16 21.10 4.75 3.65 10.05 212.29 23.58

% Change 0.40 5-Day High 1,075.22 5-Day Low 1,060.46

2009 Div BR (%) (%)

2010 Div BR (%) (%)

40 100 100 -

90 100 20 150 -

20B 20B

20B -

RSI (14-day)

50.37

Total Assets (Rs in mn)

23,734.13

MA (10-day)

1.89

Total Equity (Rs in mn)

7,075.66

MA (100-day)

2.35

Revenue (Rs in mn)

1,878.63

MA (200-day)

2.78

Interest Expense

1,208.86

1st Support

1.80

Loss after Taxation

(593.05)

2nd Support

1.60

EPS 09 (Rs)

1st Resistance

2.15

Book value / share (Rs)

2nd Resistance

2.30

PE 10 E (x)

Pivot

1.95

PBV (x)

(0.676) 8.07 0.24

SBL closed up 0.05 at 1.95. Volume was 274 per cent above average (trending) and Bollinger Bands were 40 per cent narrower than normal. The company's loss after taxation stood at Rs96.50 million which translates into a Loss Per Share of Rs0.10 for the half year of current calendar year (1HCY10). SBL is currently 29.9 per cent below its 200-day moving average and is displaying an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into SBL (bullish). Trend forecasting oscillators are currently bullish on SBL.

BankIslami Pakistan Limited

Open

High

Low

Close Chg -0.33 0.91 -0.24 -0.43 0.73 0.53 -0.05 -0.12 0.93 2.01 0.78 -0.70 0.60 0.15 0.49 0.00 0.39 0.50 -1.69 40.74

Close 1,451.41 Listed cap 11,335.33 mn Payout (%) 30.57

Volume

Change 6.11 Market cap 186,440.16 mn Div Yield (%) 0.97

Last 60 days High Low

6429 7.00 1.12 35800 47.35 32.87 1900 3.60 0.85 5000 5.00 2.40 60558 29.35 22.50 4327 16.94 13.00 550 9.10 4.22 1562 76.90 53.64 4340 67.90 60.10 53828 65.29 41.35 700 14.35 10.00 28104 7.00 4.25 500 38.14 32.80 2000 3.35 1.60 4500 3.75 2.51 500 3.50 2.02 13600 11.00 7.40 199 5.16 3.02 5117 35.50 19.48 4906 4200.00 3710.00

% Change 0.42 5-Day High 1,462.46 5-Day Low 1,445.30

2009 Div BR (%) (%) 40 35 40 15 40 50 15 15 458

2010 Div BR (%) (%)

25B 25B 10B 25B -

40 17.5 110R 0 12.5R 12 178 -

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

62.00

Total Assets (Rs in mn)

34,286.77

MA (10-day)

3.00

Total Equity (Rs in mn)

4,740.29

MA (100-day)

3.60

Revenue (Rs in mn)

2,193.89

MA (200-day)

4.65

Interest Expense

1,222.17

1st Support

3.05

Loss after Taxation

(478.94)

2nd Support

2.69

EPS 09 (Rs)

1st Resistance

3.71

Book value / share (Rs)

2nd Resistance

4.01

PE 10 E (x)

Pivot

3.35

PBV (x)

(0.907) 8.98 0.39

BIPL closed up 0.34 at 3.48. Volume was 267 per cent above average (trending) and Bollinger Bands were 2 per cent wider than normal. The company's loss after taxation stood at Rs16.13 million which translates into a Loss Per Share of Rs0.031 for the half year of current calendar year (1HCY10). BIPL is currently 25.1 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 volume flowing into and out of BIPL at a relatively equal pace. Trend forecasting oscillators are currently bullish on BIPL.

Dewan Cement Limited

HOUSEHOLD GOODS Performance of SR Household Goods Index Open 1,069.25 Turnover 816,799 P/E (x) 3.98

High Low 1,110.62 1,032.01 Total cos Defaulter cos P/BV (x) ROE (%) 0.42 10.64

Close 1,039.97 Listed cap 3,763.71 mn Payout (%) 6.27

Paid up Cap(mn)

Open

High

Low

Close Chg

Volume

1174 231

3.13 2.93

15.08 17.00

15.43 18.00

14.50 17.75

14.63 -0.45 17.98 0.98

795018 21673

Pak Elektron Tariq Glass Ind XD

Change -29.28 Market cap 5,549.94 mn Div Yield (%) 1.57

Last 60 days High Low 15.95 19.12

11.20 13.50

% Change -2.74 5-Day High 1,069.25 5-Day Low 962.16

2009 Div BR (%) (%) -

2010 Div BR (%) (%)

10B -

17.5

10B -

PERSONAL GOODS Performance of SR Personal Goods Index Open 927.26 Turnover 6,069,530 P/E (x) 6.15 Company

Paid up Cap(mn)

Ali Asghar Textile Amtex Limited Artistic Denim Azgard Nine Babri Cotton Bannu Woolen Blessed Tex Mills Brothers Textile Chakwal Spinning Chenab Limited Colgate Palm Colony Mills Ltd Crescent Jute D S Ind Ltd Dawood Lawrencepur Dewan Textile Din Textile Ellcot Spinning Faisal Spinning Gadoon Textile Ghani Value Glass Ghazi Fabrics Gillette Pakistan Gulistan Spinning Hira Textile Mills Ltd. Ibrahim Fibres J K SpinningXDXB Kohinoor Ind Kohinoor Textile Masood Textile Mehmood Textile Mukhtar Textile Nagina Cotton Nishat (Chunian) Nishat Mills Pak Leather Quetta Textile Ravi Textile Reliance Weaving Rupali Poly Safa Textile Sajjad Textile Salfi Textile Sana Ind Saritow Spinning Service Fabrics Service Ind Shahpur Textile Shahtaj Textile Shams Textile Suraj Cotton Tata Textile Thal Limited XD Treet Corp Zephyr Textile Ltd Zil Limited

Open

222 2.00 2415 4.79 17.98 840 5.86 20.48 4493 266.75 10.52 29 2.90 11.50 76 9.20 64 1.12 46.25 98 0.58 400 1.18 1.01 1150 3.66 316 15.40 682.99 2442 2.60 2.80 238 1.01 600 1.67 514 10.34 43.52 135 1.53 6.00 185 1.83 29.90 110 1.60 24.50 100 1.17 25.55 234 1.46 38.33 75 11.26 37.99 326 4.08 1.51 192 33.50 67.75 146 1.76 5.03 716 1.54 4.38 3105 3.36 37.50 74 0.43 7.42 303 1.74 1455 3.72 5.90 600 0.97 21.34 150 2.45 61.56 145 0.40 187 1.90 16.00 1586 3.14 17.15 3516 5.74 48.95 34 2.33 130 1.67 34.56 250 4.59 1.96 308 1.17 9.45 341 8.13 33.25 40 5.08 3.00 213 0.27 0.32 33 0.57 24.75 55 5.36 36.13 133 0.41 2.28 158 0.55 120 4.91 192.00 140 1.19 1.17 97 2.69 17.80 86 1.03 15.50 180 1.56 34.49 173 1.26 19.25 256 5.18 105.48 418 0.52 40.47 594 2.25 53 8.81 38.80

High

High Low 936.01 914.86 Total cos Defaulter cos P/BV (x) ROE (%) 0.53 8.64 Low

Close Chg

1.60 1.05 1.33 -0.67 18.18 17.82 17.92 -0.06 20.50 20.00 20.11 -0.37 10.85 10.36 10.67 0.15 12.50 12.50 12.50 1.00 9.70 9.60 9.60 0.40 47.00 43.94 45.00 -1.25 0.73 0.70 0.73 0.15 1.20 1.19 1.19 0.18 3.85 3.50 3.55 -0.11 717.13 675.00 717.13 34.14 3.12 2.80 3.09 0.29 1.14 0.70 0.74 -0.27 1.69 1.60 1.69 0.02 44.00 41.35 43.22 -0.30 5.50 5.00 5.00 -1.00 30.88 29.41 29.50 -0.40 25.00 23.30 23.31 -1.19 25.50 24.55 25.00 -0.55 40.20 37.11 39.66 1.33 37.50 36.70 37.50 -0.49 2.00 2.00 2.00 0.49 71.00 65.00 68.00 0.25 5.95 5.20 5.20 0.17 4.50 4.25 4.31 -0.07 38.74 36.25 36.55 -0.95 7.51 6.42 6.42 -1.00 1.78 1.51 1.63 -0.11 6.17 5.90 5.99 0.09 20.75 20.75 20.75 -0.59 64.63 63.00 63.23 1.67 0.74 0.35 0.35 -0.05 16.50 16.40 16.40 0.40 17.22 16.87 16.97 -0.18 49.64 48.00 48.76 -0.19 1.61 1.60 1.61 -0.72 36.28 32.84 36.28 1.72 1.98 1.70 1.79 -0.17 9.50 9.49 9.50 0.05 33.27 33.25 33.27 0.02 3.00 3.00 3.00 0.00 1.30 1.30 1.30 0.98 25.98 25.69 25.86 1.11 36.49 35.90 35.94 -0.19 2.34 1.28 1.80 -0.48 0.45 0.35 0.35 -0.20 193.00 187.30 190.66 -1.34 1.18 0.80 0.86 -0.31 17.20 17.20 17.20 -0.60 15.99 15.99 15.99 0.49 34.90 34.70 34.88 0.39 19.70 19.50 19.50 0.25 105.90 104.00 104.67 -0.81 41.48 40.01 40.72 0.25 2.90 2.00 2.60 0.35 40.74 37.50 40.27 1.47

Close 925.75 Listed cap 47,070.70 mn Payout (%) 16.68

Volume

Change -1.51 Market cap 116,408.43 mn Div Yield (%) 2.71

Last 60 days High Low

2564 2.21 199287 20.45 2200 21.59 1679277 13.40 592 16.75 1001 10.50 2361 49.40 1001 1.50 3247 2.30 20158 5.10 189 770.00 324 5.00 15013 2.25 10110 2.65 10671 52.28 3183 17.00 227 32.30 5657 25.30 1000 29.60 4074 44.50 1199 38.64 1000 3.74 3990 71.00 1002 7.00 136478 4.61 1006 41.00 711 10.30 137811 2.00 38403 6.30 500 23.25 462 74.50 5165 0.99 1000 16.50 438567 19.49 2943356 53.14 300 3.88 4901 52.29 186171 7.40 4100 10.68 810 36.35 505 3.50 1000 4.19 8970 25.98 4683 38.00 6050 2.80 5500 1.17 1482 240.99 128941 2.26 575 21.50 450 17.63 1626 36.20 6000 19.70 16440 114.99 7464 49.49 507 4.99 9889 46.12

0.20 10.42 17.55 8.55 9.50 7.50 36.15 0.10 0.55 2.85 544.00 2.23 0.48 1.50 37.08 5.00 22.20 18.80 24.55 32.05 26.00 1.11 57.50 4.51 2.52 33.35 4.30 1.10 4.00 19.15 46.00 0.26 11.00 14.64 40.81 1.25 22.76 1.70 6.91 31.35 2.25 0.16 16.50 27.25 1.01 0.15 176.50 0.25 12.51 14.35 29.50 12.35 91.50 37.20 1.41 33.00

% Change -0.16 5-Day High 927.26 5-Day Low 920.57

2009 Div BR (%) (%)

2010 Div BR (%) (%)

20 7.5 115 15B 7.5 7.5 8 400R - 10B 15 4050.2257B - 50R 20 - 632R 40 35 200 20 15 20 20B 40 10B

30 5 20 5B - 100R 25 45R 60 20 -

PHARMA AND BIO TECH Performance of SR Pharma and Bio Tech Index Open 824.44 Turnover 341,012 P/E (x) 6.39

INDUSTRIAL ENGINEERING High Low 1,426.99 1,402.31 Total cos Defaulter cos P/BV (x) ROE (%) 3.35 38.02

2.17 -3.15 -0.15 -0.06 -0.18 0.26 0.74 0.91 1.00

High Low 1,479.83 1,426.39 Total cos Defaulter cos P/BV (x) ROE (%) 9.52 30.30

12.73 6.95 7.00 5.95 6.62 4.26 40.99 43.00 41.90 41.90 1.10 0.86 0.85 0.86 3.88 3.46 3.45 3.45 5.97 28.22 29.35 28.01 28.95 4.54 15.62 16.40 16.00 16.15 8.10 9.10 8.00 8.05 12.39 73.00 72.90 69.35 72.88 2.21 65.00 66.00 63.99 65.93 26.48 53.33 55.80 50.67 55.34 10.72 11.50 11.49 11.50 0.42 5.90 5.90 4.91 5.20 5.03 36.50 37.10 37.10 37.10 2.10 2.50 2.25 2.25 1.00 3.00 3.50 3.25 3.49 3.00 3.00 3.00 3.00 15.86 10.55 11.00 10.80 10.94 3.50 4.40 4.00 4.00 292.82 33.90 35.50 32.21 32.21 22.40 3959.26 4100.00 3900.01 4000.00

Performance of SR Industrial Engineering Index Open 1,412.20 Turnover 156,187 P/E (x) 8.80

71.98 69.88 71.35 147.10 140.30 142.13 1.47 1.33 1.35 24.69 23.20 23.55 5.75 5.50 5.57 4.49 3.72 4.40 11.40 10.95 11.39 231.00 227.00 229.88 26.77 25.50 26.50

Open 1,445.30 Turnover 234,626 P/E (x) 31.41

2010 Div BR (%) (%) 30 40 -

40 15

FOOD PRODUCERS

Company

Change -19.86 Market cap 9,562.19 mn Div Yield (%) 9.29

20B -

Fundamental Highlights As on Dec 31, 2009

Technical Analysis

Performance of SR Food Producers Index

INDUSTRIAL METALS AND MINING Performance of SR Industrial Metals and Mining Index Open 1,022.93 Turnover 32,539 P/E (x) 3.33

144 5.21 69.18 101 5.36 145.28 890 1.50 598 6.45 23.61 450 5.75 200 10.00 4.14 1428 - 10.65 786 5.25 228.97 125 4.99 25.50

2010 Div BR (%) (%)

37199

94 6635

2009 Div BR (%) (%)

1694

1020

3277

4.05

2.20 -0.05

3663

Engro Polymer

4.15

2.11

Descon Oxychem Ltd.

Engro Corp. LtdSPOT

4.08

172.02 172.00 172.00 -1.51

Dewan Salman Dynea Pak

2.25

31.64

% Change 0.00 5-Day High 1,151.55 5-Day Low 1,142.12

2010 Div BR (%) (%)

Performance of SR Automobile and Parts Index

CHEMICALS Performance of SR Chemicals Index

2009 Div BR (%) (%) 30

Samba Bank Limited

% Change -0.75 5-Day High 721.60 5-Day Low 708.70

AUTOMOBILE AND PARTS

2976

High Low 718.23 706.37 Total cos Defaulter cos P/BV (x) ROE (%) 1.47 25.53

Alert ! Unusual Movements

Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline IBL HealthCare Ltd Otsuka Pak Searle Pak Wyeth Pak

Paid up Cap(mn) 979 208 1707 200 100 306 142

Open

7.82 88.13 6.95 109.50 12.36 68.17 7.97 4.46 30.90 5.86 61.00 - 940.00

High

High Low 843.26 811.75 Total cos Defaulter cos P/BV (x) ROE (%) 1.42 22.31 Low

Close Chg

89.98 85.50 89.26 1.13 114.00 104.03 105.87 -3.63 69.49 68.00 68.49 0.32 7.75 7.40 7.67 -0.30 29.39 29.36 29.37 -1.53 64.05 61.00 63.26 2.26 940.00 940.00 940.00 0.00

Close 828.45 Listed cap 3,904.20 mn Payout (%) 44.54

Volume

Change 4.01 Market cap 27,882.75 mn Div Yield (%) 6.97

Last 60 days High Low

23833 95.50 13612 124.00 14002 84.27 639 8.66 725 34.99 287976 64.05 125 1159.00

77.00 96.00 65.40 6.10 28.53 53.36 890.00

2009 Div BR (%) (%) 120 10 50 15 15 -

20B 15B -

% Change 0.49 5-Day High 828.45 5-Day Low 816.72 2010 Div BR (%) (%) 20 -

20B -

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

40.52

Total Assets (Rs in mn)

21,596.72

MA (10-day)

1.53

Total Equity (Rs in mn)

4,222.04

MA (100-day)

1.88

Revenue (Rs in mn)

5,682.57

MA (200-day)

2.33

Interest Expense

1st Support

1.34

Loss after Taxation

2nd Support

1.28

EPS 09 (Rs)

1st Resistance

1.51

Book value / share (Rs)

2nd Resistance

1.62

PE 10 E (x)

Pivot

1.45

PBV (x)

463.19 (163.21) (0.457) 11.81 0.12

DCL closed down -0.05 at 1.45. Volume was 73 per cent above average and Bollinger Bands were 64 per cent narrower than normal. The company's loss after taxation stood at Rs447.191 million which translates into a Loss Per Share of Rs1.25 for the nine months of fiscal year (9MFY10). DCL is currently 37.9 per cent below its 200-day moving average and is displaying 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 DCL at a relatively equal pace. Trend forecasting oscillators are currently bearish on DCL.

Gharibwal Cement Limited

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day) 1st Support 2nd Support 1st Resistance

28.83 4.54 7.46 10.48 2.20 1.71 3.54

2nd Resistance Pivot

4.39 3.05

Total Assets (Rs in mn) Total Equity (Rs in mn) Revenue (Rs in mn) Interest Expense Loss after Taxation EPS 09 (Rs) Book value / share (Rs)

11,525.06 1,455.21 1,250.25 370.77 (369.85) (1.595) 6.28

PE 10 E (x) PBV (x)

0.43

GWLC closed down -0.36 at 2.68. Volume was 3,395 per cent above average (trending) and Bollinger Bands were 44 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 74.7 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. Momentum oscillator is currently indicating that GWLC is currently in an oversold condition.

BOOK CLOSURES Company

From

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 Arif Habib Cap Asst Leasing Corp (TFC) Saudi Pak Leasing Eye Television Network # Kohinoor Power #

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 25-Sep 26-Sep 28-Sep 29-Sep 29-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 2-Oct 2-Oct 4-Oct 5-Oct 5-Oct

D/B/R

Spot AGM/Date

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 20(B) 17-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 2-Oct 2-Oct 30-Sep 29-Sep

INDICATIONS # Extraordinary General Meeting

OTHER SECTORS Symbols Pakistan CablesXD TRG Pakistan Ltd. Murree Brewery Grays of Cambridge Lakson Tobacco Pak Tobacco Shifa Int.Hosp. Eye Television P.I.A.C.(A) AKD Capital Pace (Pak) Ltd. Netsol Technol.

Open 53.85 3.78 87.7 63.4 200.09 108.01 33.02 22.5 2.11 43.75 2.67 19.19

High 52 3.8 89 66.45 210.09 111 33.95 22.17 2.23 45.93 2.77 19.4

Low Close 51.7 3.64 86.26 60.5 200 108 32 21.38 2.07 42.52 2.54 19.01

52 3.68 88.52 60.55 210.09 111 33.95 21.96 2.13 43.47 2.6 19.08

Change -1.85 -0.1 0.82 -2.85 10 2.99 0.93 -0.54 0.02 -0.28 -0.07 -0.11

Vol 799 490786 3122 554 7524 2800 890 1283 67648 5732 404427 213644

Tuesday, September 21, 2010 Central InsuranceXDXB

FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,110.71 Turnover 954,016 P/E (x) 6.06 Paid up Cap(mn)

Company

Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd

37740 3000 8606 6175

High Low 1,118.93 1,091.88 Total cos Defaulter cos P/BV (x) ROE (%) 0.78 12.84

Open

High

Low

Close Chg

9.01 -

19.07 2.25 2.48 4.19

19.19 2.35 2.49 4.20

18.80 2.15 2.41 4.01

18.93 2.16 2.45 4.11

-0.14 -0.09 -0.03 -0.08

Close 1,100.44 Listed cap 50,077.79 mn Payout (%) 62.56

Change -10.26 Market cap 77,618.13 mn Div Yield (%) 10.32

Last 60 days High Low

Volume 322561 199839 431614 72550

20.22 3.18 3.30 6.68

17.20 2.06 2.30 3.80

% Change -0.92 5-Day High 1,129.18 5-Day Low 1,100.44

2009 Div BR (%) (%) 15 -

51.60

52.25

51.50

52.00 0.40

1218

64.90

48.05

25B

38.27

40.18

38.00

40.01 1.74

48204

55.20

35.52

8.7B

IGI Insurance XD

72.00

72.10

69.50

71.13 -0.87

85037

79.10

66.02

20B

Symbols

Open

14.44

14.70

14.26

14.33 -0.11

230509

19.40

12.50

PICIC Ins Ltd

350 58.75

3.19

4.16

2.20

2.35 -0.84

20515

4.16

1.69

Premier Insurance

303

9.37

9.00

9.00 -0.37

1001

10.60

8.11

15B

NBF PSMC SAPL BATA DIIL MIRKS MFFL AGTL HINO UBLTFC2 BAPL SMTM PECO ILTM ADOS LEUL SIEM NESTLE SGPL GATI EXIDE JOPP JDMT DATM MFTM ATLH SAPT MWMP CENI DWSM FZTM DNCC CPAL UVIC BILF IDYM ISTM MTIL SANSM PSEL ICL UPFL EMCO PHDL SFWF SCLL NAKI MDTL CPL HADC KASBM CSIL UNIC AGL SCL ARPAK GSPM YOUW PSYL RMPL FTSM SLCL ESBL GUTM PRET SHCM HUSI PASM PIAB PAKD NOPK BGL KCL GAMON TSMF

3.42 77.89 120.00 490.00 17.50 59.99 69.42 212.93 118.98 91.00 12.00 7.20 299.99 79.17 20.90 1.98 1,106.34 1,880.50 0.75 44.00 146.51 8.18 11.95 0.44 1.40 101.79 122.80 1.40 11.00 1.38 361.32 1.69 1.50 3.70 0.87 245.50 4.45 0.50 14.00 148.05 25.00 1,020.00 3.03 66.61 6.50 2.47 15.45 57.90 161.00 1.05 2.00 6.48 5.00 23.99 56.08 10.94 7.10 1.13 6.51 1,474.00 5.00 2.43 2.79 21.00 28.34 9.00 9.90 7.00 9.78 114.95 25.98 1.84 5.50 2.05 1.89

718 12.57

Pak Reinsurance

3000

17.5 -

Performance of SR Life Insurance Index Open 837.95 Turnover 5,485,788 P/E (x) 75.51

Paid up Cap(mn)

Company

Genertech Hub Power XD Japan Power KESC Kohinoor Energy Kot Addu Power Nishat Chunian Power Ltd Nishat Power Ltd Sitara Energy Ltd Southern Electric

Open

High

Low

198 11572 6.19 1560 7932 1695 4.82 8803 7.36 3673 3541 82.36 191 3.63 1367 1.32

0.94 33.50 1.65 2.05 23.97 41.92 10.51 10.96 22.00 2.85

0.99 33.90 1.64 2.13 25.15 42.68 10.80 11.85 21.62 2.90

0.75 33.25 1.52 2.03 23.40 41.95 10.41 10.90 21.52 2.56

Change 4.86 Market cap 98,153.82 mn Div Yield (%) 8.24

% Change 0.42 5-Day High 1,173.71 5-Day Low 1,150.69

Close Chg

Volume

Last 60 days High Low

2009 Div BR (%) (%)

0.85 33.44 1.54 2.05 24.78 42.56 10.64 11.53 21.62 2.75

510 737107 11504 249948 4712 69011 977381 5653664 101 89972

1.53 37.24 2.38 2.63 26.65 44.85 10.80 11.85 23.48 3.58

33.5 45 64.5 20 -

-0.09 -0.06 -0.11 0.00 0.81 0.64 0.13 0.57 -0.38 -0.10

0.51 31.50 0.70 1.92 23.00 39.51 8.60 9.25 20.00 2.21

50 - 7.8R 50 -

GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,372.22 Turnover 1,224,583 P/E (x) 10.37 Paid up Cap(mn)

Company Sui North Gas Sui South Gas

High Low 1,433.18 1,365.39 Total cos Defaulter cos P/BV (x) ROE (%) 1.18 11.41

Close 1,424.20 Listed cap 12,202.80 mn Payout (%) 66.79

Change 51.98 Market cap 32,120.69 mn Div Yield (%) 6.44

Open

High

Low

Close Chg

Volume

Last 60 days High Low

5491 17.38 6712 -

28.93 22.57

30.00 23.69

28.25 22.75

29.54 0.61 23.69 1.12

650603 573980

30.00 23.69

25.00 15.80

% Change 3.79 5-Day High 1,424.20 5-Day Low 1,326.91

2009 Div BR (%) (%) -

2010 Div BR (%) (%)

BANKS Performance of SR Banks Index Open 962.94 Turnover 8,225,609 P/E (x) 6.89 Paid up Cap(mn)

Company

Open

Allied Bank Limited 7821 5.64 52.50 Askari Bank 6427 6.21 14.95 Atlas Bank 5001 1.99 Bank Alfalah 13492 11.00 8.20 Bank AL-Habib 7322 6.59 30.53 Bank Of Khyber 5004 3.12 3.31 Bank Of Punjab 5288 8.74 BankIslami Pak 5280 3.14 Faysal Bank 6091 3.18 14.04 Habib Bank Ltd 10019 6.23 97.69 Habib Metropolitan Bank 8732 5.74 20.00 JS Bank Ltd 6128 2.11 KASB Bank Ltd 9509 2.40 MCB Bank Ltd XD 7602 8.91 193.21 Meezan Bank 6983 7.26 14.95 Mybank Ltd 5304 2.15 National Bank 13455 5.58 66.33 NIB Bank 40437 2.76 Royal Bank Ltd 17180 6.55 Samba Bank 14335 1.90 Silkbank Ltd 9003 12.41 2.68 Soneri Bank 6023 5.80 Stand Chart Bank 38716 9.86 6.66 Summit Bank Ltd 5000 2.75 United Bank Ltd 12242 6.22 54.51

High

High Low Close 972.36 946.93 955.14 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 0.93 13.45 34.35 Low

Close Chg

52.95 51.50 52.26 -0.24 15.29 14.67 15.02 0.07 1.90 1.82 1.87 -0.12 8.32 8.11 8.25 0.05 31.29 30.01 30.60 0.07 3.27 3.01 3.12 -0.19 9.18 8.60 8.83 0.09 3.65 2.99 3.48 0.34 14.44 13.80 13.82 -0.22 97.99 96.50 96.81 -0.88 20.50 19.31 19.40 -0.60 2.58 2.05 2.36 0.25 2.50 2.40 2.40 0.00 193.35 190.50 190.93 -2.28 15.00 14.50 14.95 0.00 2.35 2.00 2.24 0.09 66.74 66.09 66.50 0.17 2.80 2.70 2.75 -0.01 6.99 6.13 6.22 -0.33 2.10 1.75 1.95 0.05 2.78 2.68 2.73 0.05 6.09 5.66 5.77 -0.03 6.98 6.75 6.90 0.24 2.90 2.65 2.75 0.00 54.30 52.80 52.84 -1.67

Change -7.80 Market cap 588,929.93 mn Div Yield (%) 4.98

Last 60 days High Low

Volume

16008 59.70 205251 17.46 5410 3.00 1367546 10.25 35017 34.00 17769 4.75 2164905 11.24 282426 3.90 35638 15.95 23246 109.10 10156 24.25 221952 3.00 5011 4.40 298795 214.99 44672 16.50 8765 3.28 653926 73.89 328510 3.50 607 13.71 444167 2.90 720888 3.30 15957 8.50 2008 8.50 132412 4.38 1316979 60.20

48.51 13.99 1.52 7.32 29.10 3.00 7.35 2.31 12.75 92.00 18.70 2.00 2.03 180.40 13.80 1.62 60.51 2.42 5.65 1.55 2.15 5.46 6.05 2.40 52.80

% Change -0.81 5-Day High 965.55 5-Day Low 955.14

2009 Div BR (%) (%) 40 8 20 60 10 110 75 25

20 - 66R 55 -63.46R 10 -

NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 640.39 Turnover 886,277 P/E (x) 10.79 Paid up Cap(mn)

Company Adamjee Insurance

1237 12.86

Open

High

High Low 656.21 635.86 Total cos Defaulter cos P/BV (x) ROE (%) 0.56 5.20 Low

Close Chg

Close 646.71 Listed cap 11,111.34 mn Payout (%) 79.54

Last 60 days High Low

Volume

70.17

71.90

69.71

70.71 0.54

498110

Change 6.33 Market cap 41,765.04 mn Div Yield (%) 7.37

89.90

64.00

% Change 0.99 5-Day High 646.71 5-Day Low 632.41

2009 Div BR (%) (%) 30

2010 Div BR (%) (%)

10B

Change 5.89 Market cap 9,046.14 mn Div Yield (%) 4.71

455

2.80

2.25

2.25 -0.55

15000

3.23

2.06

10R

EFU Life Assurance XB

850 33.64

59.38

62.34

59.00

61.90 2.52

10827

84.99

51.25

5513.33B

New Jub Life Insurance

627 53.96

43.46

45.20

42.25

43.17 -0.29

5459961

46.00

34.50

Open

High

Low

Close Chg

Last 60 days High Low

% Change 0.70 5-Day High 843.84 5-Day Low 820.66

East West Life

Volume

2009 Div BR (%) (%) -

2010 Div BR (%) (%)

FINANCIAL SERVICES Performance of SR Financial Services Index Open 376.60 Turnover 5,751,766 P/E (x) 0.47 Paid up Cap(mn)

Company

High Low 385.21 364.94 Total cos Defaulter cos P/BV (x) ROE (%) 0.18 37.22

Open

High

Low

AMZ Ventures 225 Arif Habib Invest. XB 360 7.18 Arif Habib Ltd. SPOT 375 8.37 Arif Habib Securities 3750 2.33 Dawood Cap Mang. XB 150 5.58 Dawood Equities 250 First Credit & Invest Bank Ltd 650 8.63 IGI Investment Bank 2121 Invest and Fin Sec 600 2.45 Invest Bank 2849 Ist Cap Securities 2878 Ist Dawood Bank 626 Jah Siddiq Co 7633 15.03 JOV and CO 508 JS Global Cap 500 JS Investment 1000 13.33 KASB Securities 1000 Orix Leasing 821 Pervez Ahmed Sec 775 Saudi Pak Leasing 452 Sec Inv Bank 514 Trust Inv Bank 586 -

0.72 15.29 33.23 23.20 1.04 2.05 2.65 1.84 7.40 0.76 4.00 1.65 10.55 3.27 38.01 6.07 3.90 5.50 1.67 0.84 3.10 2.50

0.95 15.50 33.80 23.90 1.85 2.64 3.02 1.84 7.40 0.73 4.49 1.58 10.68 3.44 39.40 6.23 3.99 5.90 1.69 0.70 3.00 2.50

0.58 15.10 32.80 23.26 0.86 2.01 3.02 1.61 6.90 0.60 3.30 1.50 10.35 3.21 37.82 6.00 3.60 5.01 1.54 0.50 2.10 1.63

Close Chg 0.71 15.37 33.56 23.57 1.06 2.05 3.02 1.73 7.02 0.67 4.00 1.58 10.37 3.26 38.01 6.00 3.61 5.30 1.62 0.69 3.00 2.50

-0.01 0.08 0.33 0.37 0.02 0.00 0.37 -0.11 -0.38 -0.09 0.00 -0.07 -0.18 -0.01 0.00 -0.07 -0.29 -0.20 -0.05 -0.15 -0.10 0.00

Close 373.07 Listed cap 30,336.44 mn Payout (%) 4.60

Volume 37518 4988 72883 3279868 12509 10505 1001 6025 7357 5417 1190 28004 2061319 141396 12538 27485 18708 104 22345 289 455 839

Change -3.54 Market cap 27,414.66 mn Div Yield (%) 9.74

% Change -0.94 5-Day High 378.34 5-Day Low 372.91

Last 60 days High Low

2009 Div BR (%) (%)

1.19 20.99 50.12 35.65 3.30 3.36 3.98 2.98 8.50 1.23 5.90 1.99 15.47 6.48 42.40 8.65 5.49 5.99 2.89 1.83 3.80 4.25

15 25B 30 - 11.5 - 10B -243.778B 10 150 -231.08R -

0.55 14.26 26.80 21.76 0.50 1.55 1.61 1.50 6.80 0.50 3.10 1.17 9.36 3.00 33.33 5.40 3.20 3.66 1.35 0.15 1.31 1.55

2010 Div BR (%) (%) 20B 20B -

EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index

2010 Div BR (%) (%)

10B 20B 20B 10B 16B 26B 10B 5B 25B 10B

Close 843.84 Listed cap 2,290.72 mn Payout (%) 355.53

2010 Div BR (%) (%)

31R -

High Low 870.72 819.97 Total cos Defaulter cos P/BV (x) ROE (%) 2.91 3.85

Paid up Cap(mn)

Company

Close 1,155.55 Listed cap 95,369.29 mn Payout (%) 104.13

10B

LIFE INSURANCE

ELECTRICITY High Low 1,171.08 1,142.23 Total cos Defaulter cos P/BV (x) ROE (%) 1.18 9.35

4.69

2010 Div BR (%) (%)

Performance of SR Electricity Index Open 1,150.69 Turnover 7,793,941 P/E (x) 12.64

279

UPTO 100 VOLUME

5.38

EFU General Insurance XB1250 31.75

Open 1,000.53 Turnover 2,037,737 P/E (x) 7.08 Paid up Cap(mn)

Company 1st Fid Leasing

264

Allied Rental AL-Meezan Mutual F.

Open

High

High Low 1,019.77 984.37 Total cos Defaulter cos P/BV (x) ROE (%) 0.29 4.09 Low

Close Chg

Close 1,003.17 Listed cap 29,771.58 mn Payout (%) 104.19

Change 2.65 Market cap 17,289.01 mn Div Yield (%) 25.87

Last 60 days High Low

Volume

% Change 0.26 5-Day High 1,003.17 5-Day Low 995.42

2009 Div BR (%) (%)

1.22

1.40

1.20

1.40 0.18

1062

2.23

1.01

600

3.54

15.00

15.25

15.25 0.25

350

16.00

12.50

2.65

6.70

6.90

6.74

6.87 0.17

8704

7.25

6.35

18.5

AL-Noor Modaraba

210

4.44

2.79

3.20

3.20 0.41

500

3.49

2.10

B R R Guardian Mod.

780

1.20

1.36

1.23

1.23 0.03

508

2.43

0.90

113

3.73

2.89

2.65

2.65 -0.24

316

3.59

1.60

4.5

Equity Modaraba

524

8.00

1.14

1.19

1.04

1.04 -0.10

1008

1.68

0.76

First Capital Mutual F.

300

2.37

2.55

3.00

2.12

2.20 -0.35

34011

3.00

0.99

First Dawood Mutual F.

581

1.75

1.73

1.75 0.00

50903

2.09

1.00

Golden Arrow

760

3.87

3.41

3.74

3.37

3.56 0.15

917235

3.74

2.32

397

4.79

4.80

Habib Modaraba

1008

4.62

6.00

6.14

5.90

6.14 0.14

4051

7.49

5.56

JS Growth Fund

H B L Modaraba

3180 39.75

3.15

3.25

3.10

3.18 0.03

31001

4.39

2.70

JS Value Fund

1186

3.13

3.35

2.85

2.99 -0.14

106503

3.98

2.31

Meezan Balanced Fund

1200

3.13

6.20

6.50

6.48

6.48 0.28

1200

7.49

6.00

15.5

250

7.06

7.62

7.75

6.70

7.63 0.01

1101

8.45

6.10

Nat Bank Modaraba

5.97

5.75

5.51

5.75 -0.22

1016

6.49

1698

3.48

7.29

7.30

7.03

7.30 0.01

54500

9.86

7.03

18.6

3000

5.09

6.50

6.55

6.50

6.51 0.01

234001

8.10

6.01

- 11.53

3.01

7.50

8.18

8.18 0.68

200

8.68

6.55

1000

2.42

4.80

4.79

4.52

4.55 -0.25

5010

6.49

4.00

PICIC Energy Fund PICIC Growth Fund

2835

2.43

8.64

8.90

8.70

8.83 0.19

63091

10.55

7.60

PICIC Inv Fund XD

2841

1.92

3.97

4.00

3.80

3.80 -0.17

230916

5.00

3.50

Prud Modaraba 1stSPOT 872

2.89

1.10

1.15

1.09

1.10 0.00

232501

1.20

0.70

1.64

1.83

0.81

0.82 -0.82

229

2.00

0.57

10.99

8.25

16.5

6.00

5.00

Punjab Modaraba

340

Ask Gen Insurance

204

5.70

10.50

10.04

10.04 -0.46

1000

11.95

8.45

Stand Chart Mod. SPOT

454

5.84

10.12

10.30

10.05

10.27 0.15

Atlas Insurance

369

4.54

29.51

30.78

30.75

30.75 1.24

650

31.00

27.10

10B

U D L Modaraba

264

2.37

5.98

5.96

5.40

5.96 -0.02

57386 321

49.02 237.83 172.91 25.32 262.04 193.36 176.05 10.55 70.34 237.83 172.91 10.55 66.50 145.47 193.36 262.04 46.52 25.32 71.50 145.47 176.05 54.68

Close 3.42 77.00 117.00 495.00 17.49 60.00 65.99 212.53 115.00 87.05 11.99 6.24 299.80 75.90 20.68 1.85 1,114.00 1,856.35 0.67 41.80 153.35 9.18 12.55 0.32 1.18 99.20 116.66 1.93 10.94 1.59 343.26 2.15 2.50 3.50 1.03 256.75 4.90 0.79 14.00 155.45 25.00 1,020.00 3.44 63.91 6.50 2.64 14.64 55.10 162.00 1.05 1.23 5.48 5.49 24.00 58.88 9.94 7.00 1.20 7.02 1,475.00 4.00 2.40 2.80 21.00 29.49 10.00 9.84 7.94 10.75 112.50 24.70 1.50 6.47 1.43 1.05

Change

Vol

0.00 -0.89 -3.00 5.00 -0.01 0.01 -3.43 -0.40 -3.98 -3.95 -0.01 -0.96 -0.19 -3.27 -0.22 -0.13 7.66 -24.15 -0.08 -2.20 6.84 1.00 0.60 -0.12 -0.22 -2.59 -6.14 0.53 -0.06 0.21 -18.06 0.46 1.00 -0.20 0.16 11.25 0.45 0.29 0.00 7.40 0.00 0.00 0.41 -2.70 0.00 0.17 -0.81 -2.80 1.00 0.00 -0.77 -1.00 0.49 0.01 2.80 -1.00 -0.10 0.07 0.51 1.00 -1.00 -0.03 0.01 0.00 1.15 1.00 -0.06 0.94 0.97 -2.45 -1.28 -0.34 0.97 -0.62 -0.84

100 100 100 100 100 80 56 53 53 45 44 43 43 40 40 40 39 35 30 27 26 26 25 20 20 17 13 13 12 12 11 11 10 10 10 10 10 10 10 10 6 6 6 6 5 5 5 5 5 5 4 4 4 4 4 4 3 3 3 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 1

High 49.45 239.80 175.50 25.30 265.49 193.00 178.50 10.70 71.75 240.00 174.75 10.70 66.70 146.85 192.00 265.50 47.50 25.20 71.00 145.50 176.99 53.00

Low

48.15 238.00 173.20 24.85 262.51 190.75 175.30 10.39 69.75 238.70 173.26 10.55 66.10 145.00 191.17 263.00 47.00 25.01 70.65 145.50 176.99 53.00

48.86 238.44 174.03 24.99 264.99 191.27 177.05 10.63 70.77 238.98 174.02 10.65 66.47 145.45 191.19 265.33 47.50 25.11 70.80 145.50 176.99 53.00

Change -0.16 0.61 1.12 -0.33 2.95 -2.09 1.00 0.08 0.43 1.15 1.11 0.10 -0.03 -0.02 -2.17 3.29 0.98 -0.21 -0.70 0.03 0.94 -1.68

Vol 389,000 191,000 161,000 157,500 134,500 121,500 112,500 92,000 69,000 63,000 39,000 31,000 24,500 20,000 13,500 10,500 4,500 4,500 3,500 1,000 500 500

ZERO VOLUME

Pak Prem Fund XD Pak Strat Fund Paramount Modaraba XD

Open

NML-SEP POL-SEP PPL-SEP DGKC-SEP PSO-SEP MCB-SEP ENGRO-SEP ANL-SEP AICL-SEP POL-OCT PPL-OCT ANL-OCT NBP-SEP OGDC-SEP MCB-OCT PSO-OCT NML-OCT DGKC-OCT LUCK-SEP OGDC-OCT ENGRO-OCT UBL-SEP

Elite Cap Modaraba

Low 3.00 77.00 117.00 485.00 17.49 60.00 65.97 212.25 114.00 87.05 11.00 6.24 285.38 75.57 19.88 1.85 1,105.00 1,840.01 0.36 41.80 140.01 9.17 12.55 0.32 1.18 99.00 116.66 1.93 10.10 1.59 343.26 1.75 2.50 3.50 1.02 256.75 4.90 0.79 14.00 155.45 25.00 1,020.00 3.44 63.90 6.50 2.64 14.50 55.10 162.00 0.85 1.05 5.48 5.49 22.80 58.88 9.94 6.21 1.20 6.01 1,475.00 4.00 1.50 2.80 21.00 29.49 10.00 9.84 7.94 10.75 110.00 24.70 1.01 6.47 1.43 1.05

FUTURE CONTRACTS Symbols

2010 Div BR (%) (%)

1375

High 3.42 77.00 117.00 495.01 17.49 60.00 65.99 214.55 124.92 87.05 12.72 7.44 299.80 83.12 21.48 1.85 1,115.00 1,900.00 0.75 43.99 153.40 9.18 12.55 0.64 1.20 103.90 124.80 1.93 10.94 1.74 375.00 2.19 2.50 3.50 1.03 256.75 4.99 0.85 14.00 155.45 25.00 1,020.00 3.44 63.91 6.50 2.65 16.45 55.10 162.00 1.24 1.23 7.30 5.50 24.89 58.88 9.94 7.00 1.20 7.48 1,475.00 5.80 2.40 2.80 21.00 29.49 10.00 9.84 7.94 10.75 114.99 26.99 1.50 6.47 1.43 1.05

Symbols

Open

High

Low

BFMOD MODAM RICL JATM KSTM NPSM SRSM PRWM COTT NCLNCP

3.70 1.19 6.50 3.45 0.85 19.98 1.60 20.00 1.80 20.50

3.72 1.15 6.49 3.10 0.75 19.45 1.45 19.50 1.50 20.00

Change

Vol

0.02 -0.04 -0.01 -0.35 -0.10 -0.53 -0.15 -0.50 -0.30 -0.50

0 0 0 0 0 0 0 0 0 0

BOARD MEETINGS

Nishat Mills Ltd

KSE 100 INDEX

Bank Al-Falah Ltd

Dera Ghazi Khan Cement Co Ltd

Company

Date

Time

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

22-Sep 22-Sep 22-Sep 23-Sep 23-Sep 24-Sep 24-Sep 30-Sep 4-Oct 4-Oct

10:00 11:00 11:00 10:00 10:00 10:00 4:00 12:00 11:30 11:30

TECHNICAL LEVELS Company

RSI 1st 2nd (14-day) Support 45.73 3.30 3.10 Allied Bank Limited 48.53 51.55 50.80 Attock Cement 59.12 68.10 67.10 Arif Habib Limited 54.10 33.00 32.40 Arif Habib Securities 40.51 23.25 22.95 Adamjee Insurance 46.48 69.65 68.60 Askari Bank 54.68 14.70 14.35 Azgard Nine 54.96 10.40 10.15 Attock Petroleum 67.89 325.80 322.90 Attock Refinery 58.34 84.60 83.80 Bank Al-Falah 46.73 8.15 8.00 BankIslami Pak 62.00 3.10 2.70 Bank.Of.Punjab 58.24 8.55 8.30 Dewan Cement 40.52 1.40 1.30 D.G.K.Cement 46.18 24.75 24.50 Dewan Salman 45.10 1.45 1.40 Dost Steels Ltd 47.62 2.05 1.85 EFU General Insurance 46.06 38.60 37.20 EFU Life Assurance 47.28 59.80 57.75 Engro Chemical 56.50 177.40 175.20 Faysal Bank 49.45 13.60 13.40 Fauji Cement 57.50 5.15 5.05 Fauji Fert Bin 44.57 27.50 27.30 Fauji Fertilizer 49.27 105.45 105.10 Habib Bank Ltd 46.86 96.20 95.60 Hub Power 35.32 33.15 32.90 ICI Pakistan 59.47 122.85 121.70 Indus Motors 45.65 227.60 225.30 J.O.V.and CO 32.98 3.15 3.05 Japan Power 45.78 1.50 1.45 JS Bank Ltd 55.61 2.10 1.80 Jah Siddiq Co 44.21 10.25 10.15 Kot Addu Power 57.89 42.10 41.65 K.E.S.C 44.53 2.00 1.95 Lucky Cement 59.45 70.60 70.10 MCB Bank Ltd 49.42 189.85 188.75 Maple Leaf Cement 50.46 3.10 3.05 National Bank 56.37 66.15 65.80 Nishat (Chunian) 54.56 16.80 16.65 Netsol Technologies 39.25 18.90 18.75 NIB Bank 49.59 2.70 2.65 Nimir Ind.Chemical 52.80 1.45 1.35 Nishat Mills 62.64 47.95 47.15 Oil & Gas Dev. XD 56.25 145.10 144.30 PACE (Pakistan) Ltd. 42.64 2.50 2.40 Pervez Ahmed Sec 40.76 1.55 1.45 P.I.A.C.(A) 41.74 2.05 2.00 Pioneer Cement 57.38 7.85 7.75 Pak Oilfields 70.42 237.30 236.40 Pak Petroleum 23.62 173.35 172.20 Pak Suzuki 44.54 74.45 71.85 P.S.O. XD 62.68 269.50 268.00 P.T.C.L.A 54.03 18.75 18.60 Shell Pakistan 37.74 194.10 192.35 Sui North Gas 67.37 28.50 27.50 Sitara Peroxide 50.59 8.80 8.65 Sui South Gas 77.62 23.05 22.45 Telecard 40.30 2.10 2.00 TRG Pakistan 54.96 3.60 3.55 United Bank Ltd 38.28 52.30 51.80 WorldCall Tele 42.00 2.40 2.35 Al-Abbas Cement

Technical Outlook Technical Analysis RSI (14-day)

Brokerage House

Leverage Position

58.98

Support 1

10,034.15

MA (5-day)

10,054.30

Support 2

10,004.70

MA (10-day)

9,919.93

Resistance 1

10,094.25

MA (100-day)

9,909.94

Resistance 2

10,124.95

AKD Securities Ltd

9,880.20

Pivot

resistance level at 10,094.25 and 2nd resistance level at 10,124.95, while

Brokerage House

Fair Value

Rs Recommendations

Brokerage House

Fair Value

Rs Recommendations

Buy

*Arif Habib Ltd

Buy

*Arif Habib Ltd

Buy

AKD Securities Ltd

44.13

Buy

AKD Securities Ltd

12.47

Buy

Positive

TFD Research

36.85

Positive

TFD Research

14.01

Positive

TFD Research

74.2

Technical Outlook Technical Analysis

Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

Technical Outlook

Leverage Position

62.64 46.01 47.35 54.38

10,064.80

normal. As far as resistance level is concern, the market will see major 1st

Rs Recommendations

61.46

Arif Habib Ltd

RSI (14-day) MA (10-day) KSE 100 INDEX closed up 10.61 points at 10,063.58. Volume was 25 per MA (100-day) cent below average and Bollinger Bands were 19 per cent narrower than MA (200-day) MA (200-day)

Fair Value

175.80 8,572.00 24.80 48.84

* 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

46.18 25.69 25.23 27.73

Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

182.55 4,556.44 22.94 25.12

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

Leverage Position

46.73 8.05 9.25 11.10

Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

674.58 5,565.27 N/A 8.22

* Target price for Dec-10 & **Net Open Interest in future market

Index will continue to find its 1st support level at 10,034.15 and 2nd sup-

NML closed down -0.19 at 48.76. Volume was 31 per cent above average DGKC closed down -0.34 at 24.96. Volume was 23 per cent below aver- BAFL closed up 0.05 at 8.25. Volume was 12 per cent above average and

port level at 10,004.70.

and Bollinger Bands were 13 per cent narrower than normal.

age and Bollinger Bands were 31 per cent narrower than normal.

KSE 100 INDEX is currently 1.9 per cent above its 200-day moving NML is currently 10.3 per cent below its 200-day moving average and is DGKC is currently 10.0 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 low as compared to the average when compared to the average volatility over the last 10 trading sesthe average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect volume 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- flowing into and out of DGKC at a relatively equal pace. Trend forecasting ing oscillators are currently bullish on NML.

bullish on INDEX.

Pakistan Oilfields Ltd

United Bank Ltd

Brokerage House

Fair Value

Rs Recommendations

Brokerage House

*Arif Habib Ltd

Buy

*Arif Habib Ltd

AKD Securities Ltd

Accumulate

AKD Securities Ltd

Positive

TFD Research

78.44

RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

38.28 54.24 55.19 58.74

Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

306.04 16,171.41 1.00 53.61

* Target price for Dec-10 & **Net Open Interest in future market

displaying 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 BAFL at a relatively equal pace. Trend forecasting oscillators are currently bearish on BAFL.

Pakistan Petroleum Ltd

Fair Value

Rs Recommendations

261

Buy

*Arif Habib Ltd

205

Buy

*Arif Habib Ltd

230

305.7

Buy

AKD Securities Ltd

248

Buy

TFD Research

239.15

Positive

TFD Research

281.35

Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

BAFL is currently 25.7 per cent below its 200-day moving average and is

Engro Corporation

Brokerage House

Technical Outlook

Technical Outlook Technical Analysis

oscillators are currently bullish on DGKC.

Bollinger Bands were 66 per cent narrower than normal.

70.42 230.25 225.06 230.25

208.75

Rs Recommendations

Brokerage House

107.94 25,711.60 81.17 238.46

* 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)

56.50 174.30 182.01 187.04

Fair Value

Rs Recommendations Buy Positive

Positive

Technical Outlook

Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

Fair Value

Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

131.09 23,541.99 59.33 179.15

* 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)

23.62 205.54 194.93 194.61

Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

247.57 43,205.95 48.50 174.12

* Target price for Dec-10 & **Net Open Interest in future market

UBL closed down -1.67 at 52.84. Volume was 69 per cent above average POL closed up 0.34 at 238.21. Volume was 1 per cent above average and ENGRO closed up 0.86 at 179.58. Volume was 31 per cent below average PPL closed up 2.09 at 174.52. Volume was 3 per cent below average and Bollinger Bands were 37 per cent wider than normal.

reflect volume flowing into and out of UBL at a relatively equal pace. Trend

and Bollinger Bands were 30 per cent narrower than normal. POL is currently 3.5 per cent above its 200-day moving average and is dis- ENGRO is currently 1.6 per cent below its 200-day moving average and is playing an upward trend. Volatility is extremely low when compared to the displaying an upward trend. Volatility is low as compared to the average average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect modreflect very strong flows of volume into POL (bullish). Trend forecasting oscillators are currently bullish on POL. Momentum oscillator is currently erate flows of volume into ENGRO (mildly bullish). Trend forecasting oscil-

forecasting oscillators are currently bearish on UBL.

indicating that POL is currently in an overbought condition.

and Bollinger Bands were 44 per cent narrower than normal. UBL is currently 10.0 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators

lators are currently bullish on ENGRO.

Bollinger Bands were 109 per cent wider than normal. PPL is currently 10.3 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into PPL (mildly bullish). Trend forecasting oscillators are currently bearish on PPL. Momentum oscillator is currently indicating that PPL is currently in an oversold condition.

1st 2nd Resistance 3.60 3.75 53.00 53.70 69.95 70.85 34.00 34.40 23.90 24.20 71.85 72.95 15.30 15.60 10.90 11.10 331.05 333.40 86.55 87.70 8.35 8.45 3.75 4.05 9.15 9.45 1.55 1.65 25.30 25.65 1.55 1.60 2.35 2.45 40.80 41.60 63.15 64.40 181.50 183.40 14.25 14.65 5.40 5.50 27.95 28.30 106.20 106.60 97.70 98.60 33.80 34.20 124.80 125.65 231.60 233.30 3.40 3.55 1.60 1.70 2.60 2.85 10.60 10.80 42.85 43.15 2.10 2.15 71.95 72.80 192.70 194.45 3.20 3.25 66.80 67.10 17.15 17.35 19.30 19.55 2.80 2.85 1.55 1.60 49.60 50.45 146.80 147.70 2.75 2.85 1.70 1.75 2.20 2.30 8.15 8.35 239.55 240.90 175.85 177.15 78.30 79.55 272.00 273.00 19.15 19.35 198.25 200.65 30.25 31.00 9.00 9.10 24.00 24.30 2.30 2.40 3.80 3.85 53.80 54.80 2.50 2.55

Pivot 3.45 52.25 69.00 33.40 23.60 70.75 15.00 10.65 328.15 85.75 8.25 3.35 8.85 1.45 25.05 1.50 2.15 39.40 61.10 179.30 14.00 5.25 27.80 105.85 97.10 33.55 123.65 229.30 3.30 1.55 2.35 10.45 42.40 2.05 71.45 191.60 3.15 66.45 17.00 19.15 2.75 1.50 48.80 146.00 2.65 1.60 2.15 8.05 238.65 174.70 75.70 270.50 18.95 196.50 29.25 8.85 23.40 2.20 3.70 53.30 2.45

Tuesday, September 21, 2010

Chairman PTA inaugurates Worldcall call centers

WLL cos told to strictly go by rules Says PTA working to curb illegal SIMs

LAHORE: Chairman PTA Dr Mohammad Yaseen cutting the ribbon at the Worldcall Call Centre. CEO of Worldcall Babar Ali Syed, DG Enforcement PTA Yawar Yasin, Zonal Director PTA Kamran Khan Gandapur and other officials of Worldcall and PTA are also seen in the picture. -PR

Wateen internetising countryside big time Staff Reporter KARACHI: Wateen has been an active participant in Ministry of Information Technology USF projects working towards the development of telecom infrastructure in underserved areas of the country, said a press release issued here. Wateen has been successful in obtaining subsidies of approximately Rs1.8 billion for OFC projects and Rs one billion for broadband projects through successful participation in competitive biddings, it further added. Tariq Malik, CEO Wateen Telecom, commended

Wateen's efforts for promotion of internet literacy in these regions and said "Wateen stands committed in alleviating the digital divide between the urban and rural population and is always one step ahead of its competition to meet such challenges." "Our aim is to promote computer and internet literacy in underserved regions of Pakistan by making these services 'available' and 'affordable' for the people of Pakistan," he added. While talking about corporate social responsibility he further stated that through these projects Wateen is not only making services avail-

able in educational centers by building computer laboratories that shall be fully equipped with broadband internet but is also generating employment opportunities by creating partnerships with the local community to build internet cafes in the area. It is Wateen's vision to contribute towards the development of our great country and hence, participation in USF regions aligns with Wateen's vision of taking Pakistan into the digital broadband revolution of the 21st century while promoting education and literacy through these means."

Bharti, IBM join wires for 16-state Africa venture NEW DELHI: Bharti Airtel has begun replicating the successful India telecom model in Africa and has even roped in IBM to manage the computing technology and services that power its mobile phone network spanning 16 African countries. The two companies have signed an in-principle pact, with the agreement expected to be finalised by the fourth quarter. The 10-year agreement is estimated to be worth $1-1.5 billion. In India, Bharti is already in a longterm pact with IBM for IT support. The initial agreement between the two was worth around $750 mil-

lion in 2004, which has since scaled up to $2 billion. Bharti had pioneered the outsourcing model in India, by engaging with firms such as IBM, Ericsson and Nokia Siemens for IT and infrastructure requirements, so that it could focus on the core telecom business. Bharti's outsourcing model was picked up by all major telcos in the country. Ever since it acquired the African operations of Kuwaiti firm Zain Telecom earlier this year, Bharti has maintained that the Indian model of low tariffs and high usage would be carried to Africa. So, the outsourcing route looked inevitable.

The strategic partnership with IBM is expected to help Bharti scale up the network of the African operations of Zain to more than 100 million customers by 2012, from 45 million now. In India, Bharti has around 150 million mobile phone subscribers. Kamlesh Bhatia, principal analyst at research firm Gartner, said the deal size between Bharti and IBM would depend on how it has been structured. His estimate is upwards of $1 billion. "The actual value would depend on the risk and rewards components and how the deal has been structured," he said. -Agencies

NA body OKs 50pc raise in PTCL worker pays ISLAMABAD: The National Assembly Standing Committee on Information Technology recommended to the authorities of PTCL for 50 per cent instant hike in PTCL workers without any negotiations. The committee resolved the matter raised by its members after thorough discussion following a proposal by PML-Q MNA Marvi Memon. The committee which met here at the Parliament House under the Chairmanship of Chaudhry Muhammad Barjees Tahir, also decided to hear arguments of Dr Abdul Hafeez Shaikh, the then Minister for Privatization, and now Minister for Finance, in connection with privatization of the PTCL. The Chairman said that the Minister had informed him that he could not attend the meeting because he would join the Prime Minister in official talks with the President of Afghanistan at Prime Minister House. It was decided that the Committee shall brief the Prime Minister on the situation during next session and the Committee shall also see the Speaker in her chamber. The Committee also discussed the loss of infrastructure due to the recent floods. The Ministry officials informed the Committee that a Fund has been created for rehabilitation of telecom infrastructure. -Agencies

LAHORE: Chairman Pakistan Telecommunication Authority (PTA) Dr Muhammad Yaseen inaugurated the call centers of Worldcall here, in accordance to its plan to curb the illegal connections. According to a handout issued, Chairman PTA emphasised the importance of authentic documentation and urged the WLL operators to spare no stone unturned while issuing the new connections strictly in accordance with the laid down procedures for new regime. PTA has made extraordinary efforts to curb illegal issuance of SIMs and to ensure authentic antecedents of mobile subscribers. PTA has achieved this by

implementing one-of-itskind "Online Verification of Mobile Subscribers' Antecedents through NADRA's Database - 789" in February 2009, he added. After having successfully implemented the system for mobile operators, PTA has extended its efforts by brining the WLL operators under the same umbrella. Under the new process all WLL service providers are now linked with NADRA data base, and all WLL connections shall be activated after its verification from NADRA. CEO of Worldcall assured his full compliance to the procedures in order to make certain availability of authentic credentials of the subscribers.-PR

Chinese co buys 300k Android cells for 3G BEIJING: China Telecom, the smallest of China's three wireless carriers, has ordered 300,000 smartphones based on Google's free Android system, its largest such order to date as it banks on cheap smartphones to ramp up its fledgling 3G service. ZTE Corp's entry model smartphone N600 will constitute 80 per cent of those handsets, ZTE said in a statement. China Telecom will price ZTE's N600 at an inexpensive 1,000 yuan ($148.9) per handset. China, the world's largest mobile market with almost 800 million subscribers, is a hotbed of growth for smartphones running Android, a

free operating system that allows developers to keep down prices. With its open platform developed by Google, Android has enticed technology giants such as Dell Inc, Lenovo and Huawei to develop smartphones for the price-conscious Chinese market. By contrast, Apple's iPhone is considered expensive for the Chinese market by analysts. The Cupertino firm also said on Monday that it will be launching the iPhone 4 in China this Saturday. The phone will be sold at its Apple retail stores and through its sole telecom distributor China Unicom. Reuters

Huawei donates $8000 for flood relief ISLAMABAD: China's leading telecommunication company, Huawei Technologies donated an amount of RMB 100,000 ($8,000 approx) for the Prime Minister's Flood Relief Fund here. The documents in this regard were handed over by Senior Vice President of Huawei Technologies, Zhang Chunxiang to Pakistan's Ambassador to China, Masood Khan at the Pakistani embassy in Beijing, says a press release. Ambassador Masood Khan thanked the Chinese government and people for the support being given for the flood affectees of Pakistan both in the form of cash and kind. He particularly appreciated the medical relief services provided by the two medical teams sent by China to Pakistan. One of these teams, which returned to Pakistan after spending nearly three weeks there, had treated 11,400 patients, he said. Masood Khan also thanked Huawei Technologies for investing in Pakistan and playing a role in reviving the country's national economy. Speaking on the occasion, Zhang Chunxiang, who has also served as China's Ambassador to Pakistan and Afghanistan, expressed deep grief and sorrow over the loss to life and property caused by the floodwater and said that Huawei Technologies considers it an obligation to provide support to the people of Pakistan in their hour of need. He said Huawei employees in Pakistan would also donate $100,000 for the flood affected people.-NNI

Danish teleco TDC sells its Swiss offshoot COPENHAGEN: Danish Telecom Group (TDC) said it had agreed to sell its Swiss offshoot Sunrise to private equity firm CVC Capital Partners for 3.3 billion Swiss francs (2.5 billion euros, 3.3 billion dollars. -Agencies

Thai regulator appeals 3G injunction BANGKOK: Thailand's telecommunications regulator filed an appeal to the Supreme Administrative Court, seeking to overturn an injunction against its planned auction of third-generation mobile licenses. The move comes after the Central Administrative Court issued an injunction against the auction, after state-owned CAT Telecom alleged the National Telecommunications Commission has no authority to grant the 2.1 gigahertz frequency spectrum to successful bidders. It also argued that parts of the regulations related to the licensing will create "unfair" competition and cause state agencies to lose revenue. The spectrum is being sold to facilitate the launch of 3G technology in the country. State-owned operators have challenged the legitimacy of the NTC to oversee industry issues related to the technology pending the commissioning of a new regulator.

The long-delayed 3G service license auction has made Thailand among the last countries in Southeast Asia to fully deploy advanced wireless technology. The process has repeatedly been delayed due mainly to the absence of an independent body to regulate broadcasting frequencies, as well as changes in state administrations. The 3G services allow users to transfer data and download content at substantially faster speeds than second-generation technology, while enabling more sophisticated applications such as video telephony, television on mobile phones and electronic-commerce transactions. The unexpected 11th-hour decision Thursday by the Central Administrative Court means the much-awaited licensing will be put on hold and there is no clear time frame in sight on when Thailand will be able to fully adopt 3G. "If the [Supreme Administrative] court

doesn't order otherwise before Monday morning, we'll have to suspend all the planned auction process," Natee Sukonrat, a commissioner with the NTC, told a news briefing. The delay in 3G licensing will adversely affect investors' confidence as well as disrupt massive investment plans by mobile telecom operators to facilitate the new network and lending to finance it. According to a statement from the Central Administrative court, the NTC has informed the court that the introduction of 3G technology will boost the country's gross domestic product both directly and indirectly by 240 billion baht to 480 billion baht ($7.8 billion to $15.59 billion) over the 15-years validity of the 3G licenses. NTC intends to grant three 3G licenses. The court's decision hit telecom stocks hard Friday, as most market participants didn't expect the auction to be called off at the very last minute. Shares of key telecom companies

participating in the coming auction had surged in recent months due to strong investor optimism over their long-term prospects arising from 3G products and services. Units of Advanced Info Service PCL, Total Access Communication PCL and True Corp. PCL were each bidding for the 3G wireless spectrum, with a starting price of 12.8 billion baht. Advanced Info Service fell 8.7% Friday to 89.50 baht, Total Access dropped 14.3% to 39 baht while True Corp plunged 25% to 5.10 baht. Many analysts have downgraded Thailand's telecom sector following the injunction as they expect the licensing process to be delayed by around one to two years. Separately, TOT PCL on Friday asked the Central Administrative Court to block the planned auction of 3G licenses, claiming the NTC doesn't have the legitimacy to conduct the auction, said TOT executive vice president Sarinya Chaiprasert.

Thailand's constitution states that a new independent regulator must be set up to govern the telecommunications and broadcasting business but a draft bill facilitating its establishment is still awaiting parliamentary process. As such, it remains unclear if the NTC is eligible to allocate the frequency spectrum. CAT and fellow state-owned company TOT, both of which were former regulators, stand to lose enormous concession revenues should private companies acquire 3G licenses and migrate their customers to the new technology. At present, private mobile-phone companies in Thailand operate second-generation mobile-phone services under concessions granted by either TOT or CAT Telecom that require revenue sharing of around 20%-30% with the state companies. The winning 3G licensees will require to pay an annual fee of only 6% of their revenues -Reuters

Tuesday, September 21, 2010

European vegetable oil prices

Gold hits record highs as investors eye Fed meet

ROTTERDAM: The followSilver at 2-1/2 year highs, nears 30-year peaks ing were the Monday's Rotterdam vegetable oil price's LONDON: Gold hit record come in steps." iShares Silver Trust, also rose at 21:00 PST. highs for a fourth day on Confidence in the US recov- on Friday, by 38.05 tonnes to SOYOIL: EU degummed Monday, lifted by a potent mix ery is fragile, with data on 9,381.74 tonnes. euro tonne fob exmill of factors including dollar Friday showing Americans Silver prices, which have Jan11/Mar11 804.00+13.00, weakness, further central bank were at their most pessimistic risen by 17 per cent in the last Apr11/Jun11 804.00+26.00. buying and speculation more in over a year this month as five weeks alone, were less RAPEOIL: Dutch/EU euro stimulus measures could prove growing fears about job securi- than 1.5 per cent below their tonne fob exmill Nov10/Jan11 inflationary. ty and finances undermined highest level in nearly 30 years 802.00+14.00, Feb11/Apr11 Expectations the Federal US consumer sentiment. on Monday. Silver has acted as 810.00+13.00, May11/Jul11 Reserve could announce further Spot gold prices have risen by a cheap alternative to gold for 815.00+15.00. moves to stimulate the US econ- more than 16 per cent this year, investors who have sought out LINOIL: Any origin dlrs omy after its policy safe-haven tonne extank Rotterdam meeting this week assets, but has Sep10/Oct10 1255.00+2.50. has piqued interest also drawn CRUDE PALM OIL: in the precious strength from Sumatra/Malaysia slrs option metal as a hedge the modest dlrs tonne cif R'dam Sep10 against inflation, recovery in 940.00+30.00, Oct10 analysts said. global growth. 935.00+25.00, Nov10 Spot gold hit a Spot silver 920.00+20.00, Dec10 record $1,283.70 rose as high as 915.00+25.00, Jan11/Mar11 an ounce and was bid at driven by the desire among $20.96 an ounce, after reaching 907.50+17.50, Apr11/Jun11 $1,282.15 an ounce at 1526 investors for a safe store of value $20.99 on Friday, its highest in GMT, against $1,275.95 late in in light of major currencies, the past 2-1/2 years. It was 907.50+17.50. PALMOIL: RBD dlrs tonne New York on Friday. US gold equities and bonds becoming later at $20.90 an ounce against $20.76 late on Friday. cif Rotterdam Oct10 967.50, futures for December delivery increasingly volatile. Reflecting keen investor rose $6.50 to $1,284.00 an ounce. The platinum group metals Nov10/Dec10 947.50. "All the stories stack up interest in bullion, the world's rose in line with gold. Platinum PALMOIL: RBD dlrs tonne hugely in favour of gold curlargest gold exchange-traded hit its highest in four months at fob Malaysia Oct10 920.00, rently," said Saxo Bank senior fund, the SPDR Gold Trust, $1,631 an ounce, and was later Nov10/Dec10 900.00+22.50. PALM OLEIN: RBD dlrs manager Ole Hansen. "A move said its holdings rose another 6 at $1,630 an ounce against $1,610.55 on Friday. tonne fob Malaysia Oct10 higher to between $1,300- tonnes on Friday. Holdings of the world's Palladium was at $538.88, 930.00, Nov10/Dec10 $1,350 could be a good target CAIRO: Farmers collect dates in an agricultural area in el-Hawamdiya, a suburb 910.00+25.00, Jan11/Mar11 towards year-end, but it will largest silver-backed ETF, the against $539.88. -Reuters of Giza near Cairo. -Reuters 905.00+27.50, Apr11/Jun11 907.50+30.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Oct10/Nov10 1285.00+45.00, Nov10/Dec10 1285.00+45.00, MUMBAI: India's spot sugar Dec10/Jan11 1285.00+45.00. KUALA LUMPUR: Global ($876.5) after hitting five-week edged up on Monday on an CASTOROIL: Any origin vegetable oil markets surged highs earlier in the session. US NEW YORK: Cotton prices improvement in demand due to LONDON: Copper eased from a from 150,875 tonnes the day dlrs tonne extank Rotterdam festivals, though hopes of bumper five-month peak on Monday as before, amounting to 5.74 per Oct10/Nov10 2020.00+0.00. - on Monday as investors took soyoil for October delivery surged more than 3 per cent on positions on concerns a dry climbed 2 per cent. Monday, surpassing the $1 a lb output in 2010/11 season weighed caution over European sovereign cent of the total 4.39 million Reuters spell may curb grain output in "Soyoil has touched its high- level for the first time since debt re-emerged but a softer dol- tonnes in LME sheds. The globon sentiment, dealers said. the Americas. est level in this half-year, I 1995 as clothing makers and "Demand was slightly higher lar, ahead of the United States al aluminium market stands at 36 Agriculture markets have think it could go up at least 5-6 other commercial users who sat today. Stockists from Maharashtra monetary meeting this week, Shanghai copper been moving higher on conper cent in the short term." out the summer rally were and southern India were active to limited losses. cerns erratic weather across the In Indonesia, Jakarta-based forced to buy the fiber at prices holds flat Benchmark copper for threefulfil retail demand," said a memglobe will limit supplies for the PT KBN Nusantara, formerly driven up by fund investors. Shanghai copper futures ber of the Bombay Sugar month delivery on the London food sector, potentially stoking known as the state marketing High cotton prices have Merchants Association. In Metal Exchange finished at were steady on Monday and inflation in China. centre, sold 11,000 tonnes of squeezed clothing makers in Kolhapur, a key market in top pro- $7,715 a tonne from $7,720 at London futures touched a fresh near-five month high, The most active May soyoil crude palm oil at top price of the United States and around ducing Maharashtra state, the the close on Friday. The metal, contract on China's Dalian 8,198 rupiah ($0.913) per kg in the world. most traded S-variety ended up used in power and construction, while zinc prices jumped more "It's a perfect storm in cot0.4 per cent at 2,540 rupees hit $7,812 earlier on Monday, its than 2 per cent, rallying on LONDON: ICE benchmark raw Commodity Exchange hit a auction on Monday, against heavy arbitrage buying. sugar futures eased back from a fresh record and RBD palm 8,023 rupiah per kg in auction ton," Nick Gentile, senior part($55.57) per 100 kg. highest level since April 26. LME copper rose $68 to seven-month high hit earlier in olein futures jumped as much on Friday. The country is expected to proner of commodity trading conA growing trend of falling Refiners in Jakarta offered sultancy Atlantic Capital duce 26 million tonnes in the new LME inventories has also helped $7,788. Prices earlier touched the session on Monday, as near- as 3.8 per cent ahead of China's $7,812, their highest since late by demand and adverse weather season that begins on Oct. 1, up overall sentiment in recent long holidays that start on refined, bleached, deodorised Advisors, told Reuters in an from previous forecasts of 25 mil- months. The latest LME data April. Benchmark third-month underpinned prices. Wednesday. (RBD) palm olein -- used as interview. ICE arabica futures were lower lion tonnes, Prakash Naiknavare, showed that on Friday, copper Shanghai copper closed 150 The benchmark December cooking oil -- at 8,600 rupiah, For only the second time but remained within sight of a crude palm oil contract on while RBD palm olein sold at since 1960, cotton prices on the managing director of Maharashtra stocks slipped 1,700 tonnes to yuan higher at 60,250 yuan. 13-year peak, while cocoa edged Bursa Malaysia closed 81 ring- 8,650 rupiah per kg on Friday. ICE Futures US cracked $1 at State Cooperative Sugar Factories 382,500 tonnes, having fallen million tonnes. down. Sugar's break above the git higher at 2,720 ringgit -Reuters Federation, told Reuters in an from 6-1/2 year highs at 555,075 the start of trading in Asia and UK-based ETF Securities key resistance level of 25 interview. the key December cotton contonnes in mid-February. declined on Monday to comment cents/lb to touch a seven-month India will allow sugar futures tract jumped as much as 3.76 Aluminium touched $2,223, its on talk that it is planning to soon peak of 25.60 cents on Monday trading next month, ending a cents or 3.83 per cent to trade at highest level since Aug. 6, and launch a physically backed cop- was supported by market fundaban imposed in May 2009 when $1.0198 per pound. Cotton finished at $2,195 recently from per exchange traded product mentals and strength across the the world's top consumer had to eased off the session high but (ETP). Among other metals, commodities complex, with gold import huge quantities of the a last bid at $2,180 on Friday. remained up more than 1 per LME stocks for the metal, used steel-making ingredient nickel hitting a record high, as a weaksweetener, amid signs there cent at over $1 a lb. in transport and packaging, shed closed at $23,050 from a final PARIS: European wheat meanwhile, earlier climbed er dollar was bullish for dollar could be a surplus this year. Gentile said the rally had a futures rose sharply on 4.75 euros to a new contract priced commodities. India may export up to 3.5 mil- 5,050 tonnes to 4.38 million bid at $23,200 on Friday. good chance of surpassing the Battery material lead was The ICE October raw sugar Monday to trade at contract high of 215.75 euros a tonne. lion tonnes of sugar in 2010/11, tonnes. A large portion of those November feed wheat stood lifetime highs in cotton around higher than earlier estimates as aluminium stocks are tied up in ultimately at $2,195 from futures contract expires on Sept. highs amid crop worries in $2,202.50, while zinc ended at 30. ICE October raw sugar major producing countries, but 3.50 pounds higher at 169.25 $1.17 per lb, last hit in 1995. recent rains raise prospects of finance deals. The cotton rally took off in The latest LME data showed $2,180 a tonne from $2,151 futures traded up 0.01 cents or 0.1 pared gains in afternoon trade pounds after earlier climbing to boosting output in the world's July as investment, hedge and second-largest producer, a top that aluminium cancelled war- and tin was at $23,500 from per cent at 24.62 cents a lb as at as a rally in US corn and wheat a peak of 171.50 pounds, the long-index funds looking for rants were at 251,825 tonnes $23,600. -Reuters highest level for the front 1421 GMT. London December lost momentum. industry official said. -Reuters the next big thing in commodiBenchmark milling wheat month since April 2008. white sugar traded up $1.10 or 0.2 Standard new crop bread-qual- ties decided to plow money into futures in Paris equalled a conper cent at $609.40 per tonne. Coffee prices eased on tract high set in the previous ity wheat for September delivery the market because they felt it Monday, with ICE arabicas session while the corresponding in Hamburg was offered for sale was undervalued. Values had falling over 2 per cent, as deal- feed-wheat futures in London up two euros at 242 euros a gained nearly 40 per cent ers and analysts saw further hit a new contract high, with tonne with buyers unchanged through the end of last week. Traders said fund buying had downside price risk due to the British prices getting extra sup- from Friday at 238 euros. prospect of a big crop in Brazil port from a weaker pound. Spanish wheat prices contin- slowed lately as they were conEarly gains were linked to a ued to rise in step with Paris tent to sit on their money-makNEW YORK: Oil prices rose on The October contract expires on downbeat assessment from the and a recovery in Colombia's rally in US corn as concerns and Chicago to levels not seen ing positions. Market sources Monday, snapping a four-day Tuesday. US November crude Organization for Economic production. London cocoa futures about yields in the US harvest since the market pulled back said the rally on Monday came slump and lifted by a rallying rose $1.56, or 2.08 per cent, to Cooperation and Development, largely as commercial players equities market expecting the $76.48 a barrel. ICE Brent for which said on Monday a US resumed their downtrend after continued to drive the grains from the 2007-08 rally. Prompt feed wheat in leading were forced to pay up because US Federal Reserve to keep its November rose $1.31 to $79.52. recovery was under way but at stabilizing Liffe December complex. November milling they needed the cotton at a time policies steady at a meeting this The US recession ended in such a moderate pace that high cocoa traded down 5 pounds or wheat in Paris closed flat at grains port Tarragona was quot- of strong consumer demand in 0.3 per cent at 1,879 pounds a 233.75 euros a tonne after ed at 215 euros a tonne, up 7 week and bouncing after crude June 2009, making it the longest unemployment will persist for tonne. ICE December cocoa equalling a contract high of euros from a week ago and its China and tight world stocks prices slumped 3.7 per cent last downturn since the Great some time. High US oil inventotraded down $7 or 0.3 per cent 238.00 euros a tonne in open- highest since June 2008, accord- aggravated by flooding in week. Depression of the 1930s, the ries have also weighed on oil Pakistan. -Reuters at $2,739 per tonne. -Reuters ing trade. November maize, ing to Reuters data. -Reuters Trading sources also said crude National Bureau of Economic prices. If the Enbridge shut pipeline caused crude oil stocks National Commodity Exchange Ltd Trading Summary to fall last week, they will have Date Commodity Contract Price Open High Low Close Traded Volume Previous Current Open Interest slipped from a nearly 25 millionDate Quotation in lots Settlement Settlement in Lots barrel premium to the year-ago Price Price level in the previous week, 20-Sep-2010 CRUDE100 OC10 US$ Per Barrel 73.61 74.69 72.90 73.58 164 73.79 73.58 25 according to government data. CRUDE100 NO10 US$ Per Barrel 74.90 76.08 74.20 74.64 142 75.16 74.64 37 Since May, crude prices have 20-Sep-2010 CRUDE100 DE10 US$ Per Barrel 77.49 77.59 76.00 76.21 28 76.89 76.21 9 been hemmed in between the 20-Sep-2010 20.81 20.80 20.81 20.85 20.81 $64.24 intraday low on May 20-Sep-2010 SILVER - SL500 NO10 US$ Per Troy Ounce 20.80 20-Sep-2010 SILVER - SL500 DE10 US$ Per Troy Ounce 20.77 21.00 20.68 20.82 231 20.87 20.82 85 futures were being supported by Research, considered the arbiter 20, the weakest front-month 20-Sep-2010 GOLD 01oz OC10 US$ Per Troy Ounce 1275.50 1283.00 1272.50 1278.90 642 1277.80 1278.90 609 expectations that the week-long of US recessions, said on price since July 30, 2009, and GOLD 01oz NO10 US$ Per Troy Ounce 1276.00 1283.80 1273.00 1279.70 899 1278.50 1279.70 1,764 shut down of Enbridge Inc's Monday. the 2010 peak of $87.15 hit 20-Sep-2010 20-Sep-2010 GOLD 01oz DE10 US$ Per Troy Ounce 1277.00 1284.00 1273.60 1280.50 757 1279.30 1280.50 785 Canada-to-US crude oil pipeline Oil prices shrugged off a May 3. -Reuters 20-Sep-2010 GOLD 100oz OC10 US$ Per Troy Ounce 1276.00 1282.00 1272.00 1278.90 13 1277.80 1278.90 2 restarted on Friday may have LONDON METAL EXCHANGE (PLASTIC) 20-Sep-2010 GOLD 100oz NO10 US$ Per Troy Ounce 1278.80 1279.70 1278.80 1279.70 1278.50 1279.70 pushed US crude inventories 20-Sep-2010 GOLD 100oz DE10 US$ Per Troy Ounce 1281.00 1284.00 1275.20 1279.70 16 1279.30 1280.50 3 LME Official Prices, US$ per tonne for September 17 2010 lower last week. 20-Sep-2010 GOLD OC10 Per 10 grms 35190.00 35400.00 35190.00 35325.00 80 35295.00 35325.00 55 POLYPROPYLENE(PP) LINEAR LOW (LL) US crude for October delivery 20-Sep-2010 GOLD NO10 Per 10 grms 35301.00 35333.00 35301.00 35333.00 35303.00 35333.00 1240 1160 rose $1.47, or 2.0 per cent, to Cash Buyer 20-Sep-2010 GOLD DE10 Per 10 grms 35316.00 35348.00 35316.00 35348.00 35318.00 35348.00 $75.13 per barrel at 1605 GMT, March (3rd Wednesday) 1240 1090 20-Sep-2010 Kilo GOLD OC10 Per 10 grms 35264.00 35297.00 35264.00 35297.00 35267.00 35297.00 trading from $73.32 to $75.45. April (3rd Wednesday) 1240 1090

India sugar edges higher

Palm at 5-wk top on strength from grains

Copper eases; euro debt worries linger

NY cotton surges 3pc to above $1/lb

Sugar eases from 7-mth high, coffee down

EU wheat slips on CBOT profit-taking

Oil jumps above $75 as S&P 500 hits 4-mth peak

LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for September 17 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

2210 2220 2140 2150 2075 2085 2075 2085

2155 2156 2189.5 2190 2268 2273 2333 2338

7755 2208 7756 2208.5 7765 2235 7770 2238 7700 2255 7710 2260 7455 2235 7465 2240

23420 23425 23400 23425 22900 23000 21975 22075

TIN

ZINC NASAAC

23745 2163.5 23750 2164 23705 2186 23710 2187 23125 2250 23175 2255 2247 2252

2131 2132 2140 2150 2140 2150 2190 2200

20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010

Tola Gold50 Tola Gold100 Mini Gold Mini Gold Mini Gold Mini Gold Mini Gold TT Gold IRRI6W

OC10 OC10 1-Aug 2-Aug 3-Aug 4-Aug 5-Aug 1-Sep 23SE10

Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per 100 kg

41132.00 41132.00 36289.00 36326.00 36339.00 36351.00 36364.00 41661.00 2402.00

41170.00 41170.00 36371.00 36326.00 36339.00 36351.00 36364.00 41756.00 2402.00

41132.00 41132.00 36289.00 36323.00 36335.00 36347.00 36359.00 41661.00 3156.00

41170.00 41170.00 36371.00 36323.00 36335.00 36347.00 36359.00 41756.00 3203.00

41135.00 41135.00 36342.00 36293.00 36305.00 36317.00 36330.00 41722.00 3156.00

41170.00 41170.00 36371.00 36323.00 36335.00 36347.00 36359.00 41756.00 3203.00

20-Sep-2010 20-Sep-2010 20-Sep-2010 20-Sep-2010

Rice IRRI - 6 RBD Palm Olein KIBOR3M KIBOR3M

OC10 OC10 10-Sep 10-Dec

Per 100 kg Per Maund Per Rs. 100 Per Rs. 100

3181.00 4172.00 87.22 86.82

3228.00 4206.00 87.22 86.86

3181.00 4172.00 87.19 86.82

3228.00 4206.00 87.19 86.86

3181.00 4172.00 87.22 86.82

3228.00 4206.00 87.19 86.86

Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day

US Fish returns the ball to Colombia´s Giraldo during their Davis Cup playoff tennis match in Bogota

Tuesday, September 21, 2010

Yuvraj rulled out of Aussie tour NEW DELHI: India's cricket selectors on Monday dropped left-hand batsman Yuvraj Singh from the squad for the two Test matches against Australia starting on October 1. The 15-man squad, described by chairman of selectors Krish Srikkanth as one which "selected itself", restored the tried and trusted combination that has lifted India to the top of the Test rankings. India were bolstered by the return of pace spearheads Zaheer Khan and Shanthakumar Sreesanth, star spinner Harbhajan Singh and prolific opening batsman Gautam Gambhir. All four missed India's last Test match, against Sri Lanka at the P. Sara Oval in August, which Mahendra Singh Dhoni's men won to draw the threematch series. Yuvraj, skipped the second Test of that series due to illness, but was kept out of the decider after his replacement, Suresh Raina, hit a century on debut. "This is the best team we could have picked, in fact it selected itself," Srikkanth told reporters after the selection committee meeting in Chennai. "There are no surprise inclusions, and no surprise exclusions either. Weightage has been given to performance, talent and fitness."-APP

Mazhar grabs six golds in swimming KARACHI: Sindh's top junior International Mazhar Naqvi excelled with six gold medals in the All Karachi Open and Age Group Swimming Championship held at Sindh Sailing Centre pool on Sunday. The 17-year-old student of Lecole's School for Advanced Studies here won the individual gold in 50 and 100 meter butterfly and 50 and 100 meter free-style besides securing gold in individual medley in open category and was declared the best swimmer of the competition by mustering 34 points. Mazhar won a record seven gold in National Junior Swimming Championship had represented Pakistan in Commonwealth Swimming in Manchester in 2008. Besides Mazhar, Aniq Anwar won three gold medals in the event participated by around 150 swimmers. Those who were declared Group Champions included Mir Shah Pasha (Under8), Hamza Anwar (Under10), Saad Amin (Under12), Hamza Khalid (Under14), Faiz Khalil (Under16) and Mazhar Naqvi (Open).-APP

Sidebottom steps off cricket arena LONDON: England left-arm pace bowler Ryan Sidebottom has retired from international cricket, the player said in a statement on Monday. The Nottinghamshire swing bowler, 32, played 22 tests, taking 79 wickets after making his England debut in 2001. "I have had a truly fantastic period of my life with England but now it is time to hand over the ball to those a little younger," he said on his county's website. "I have been fortunate enough to live the dream with England. It has been a fantastic time but I have no doubts that now is the right time to announce my retirement."-Reuters

Eng to chase 266; Razzaq strikes 44 of 20 balls

Controversies keep dominating Lord’s KARACHI: Ijaz Butt's outburst on Sunday afternoon ensured it was controversy that again dominated at Lord's and England captain Andrew Strauss admitted his team were reluctant to continue the series. But the show went on as Pakistan reached 265 for 7, an innings lit up first by Shahid Afridi and then by Abdul Razzaq and also dominated by Graeme Swann, who claimed 4 for 37 in a superb display of offspin. The clearest sign that this wasn't an occasion for cricket was when Jonathan Trott and Wahab Riaz almost came to blows in the Nursery Ground nets. "Words were exchanged," was all the ECB would say, but it has no place at a cricket match. On any normal occasion, rather than one shrouded in ill-feeling and anger, this would have been a fascinating one-day innings as the momentum ebbed and flowed either side of Swann's latest outstanding spell, finishing in grandstand style as Razzaq hammered 44 off 21 balls. The innings was threatening to dribble away, but Razzaq cut loose in the

penultimate over as he took 20 off Anderson and repeated the damage in the last as the final five balls off the innings from Bresnan disappeared to the boundary, leaving England slightly shell-shocked as they left the field. Afridi, in his 300th ODI, played like a man wanting to make more than a cricketing point. However, for the time he was in England were worried. Afridi launched his fourth ball, the last one of Swann's spell, into the second tier of the pavilion and the MCC member who tried to catch it finished with a bloodied face. The Pakistan physio came to his aid, and the member insisted on staying in his seat to watch the remainder of the action. When he was on 14 a ball from Stuart Broad rolled into the base of the stumps without the force to dislodge a bail and an over later Afridi took a painful blow on the glove from James Anderson which required treatment. However, he was still able to launch Bresnan for another six to reach 33 off 16 deliveries with the prospect of the batting Powerplay still to come.

Bresnan, though, held his nerve with a slower ball that Afridi didn't connect with and found long-on but there was more damage to come. There was plenty of early movement for Bresnan and James who both beat the outside edge during their initial overs, but slowly Pakistan's openers began to settle. Kamran Akmal collected two boundaries off Bresnan's third over and another off Anderson when he edged short of second slip. He was showing little sign of discomfort from the damaged finger that forced him to hand the wicketkeeping gloves to his brother, Umar, during the previous match and cracked Bresnan over deep midwicket for the first six of the match. Mohammad Hafeez then followed suit when he flicked Broad over deep square-leg and suddenly the scoreboard was rattling along. Kamran has played nicely during the one-day series, after a horrid time in the Tests, but having reached 28 he spliced a pull to midwicket. Hafeez was given a life on 32

National women Squash tourney from Oct 15 ISLAMABAD: The National Women's Squash Championship will be organised from October 15-18 at PAF-Hashim Khan Squash Complex, Peshawar. The championship will carry prize money of Rs50, 000, Secretary, Khyber Pakhtunkhwa Squash Association, Qamar Zaman told APP here on Monday. The squash association would hold the national event in the province that would involve female squash players from across the country," the Secretary said. Zaman, who is also a former British Open champion, said that the association has planned various tournaments in the current year for both junior and senior categories involving male and female players. He said that sports activities must go on and that is why this squash event was being organized so as to engage the youth in healthy activities. "We are going to make history of holding the first national squash event in the province that will involve female squash

players from all across the country," he added. Zaman said that efforts were made to get sponsorship for the event but up till now no one had agreed to sponsor the championship owing to the current situation. Besides the National Women's Squash Championship, a Senior Squash Championship will be organized from October 5-10 with prize money of Rs0.1 million. The first event, which carries prize money of Rs50, 000 will be held from September 26-30 for National Age Group Under11, Under-13 and Under-15. The National Under-15, Under-17 All-Pakistan tournament will be commencing from October 2226, followed by Inter-District Junior Squash Championship from November 1-5. Ladies Inter-District Championship is scheduled from November 15-18 and Senior National Squash Championship, carrying Rs0.1 million prize money, will be organized in December this year, he said.-APP

when Michael Yardy failed to hold a tough return catch and continued to tick along with the talented Asad Shafiq for company. However, Swann, who was nominated in the ICC shortlist for Cricketer of the Year, made his customary first-over breakthrough with a classical offspinner's dismissal as Shafiq was bowled through the gate when he tried to drive. Yet, even the normally jovial Swann couldn't manage his usual expansive celebrations - a sure sign that England would rather not be playing this match. Still, Swann continued to do a fine job for his team and made the key breakthrough when Yousuf edged a weak dab to Steve Davies to have Pakistan on 94 for 3. Hafeez went to fifty from 86 balls, adding 43 with Fawad Alam to steady the innings, but Swann had the ball on a string and accounted for both before his spell finished. Hafeez tried to mow him over midwicket and top-edged to short third man, and was then bowled when trapped on the back foot much like his team.

LONDON: Pakistan's Abdul Razzaq hits out during the fourth one-day international cricket match against England at Lord's cricket ground.-Reuters

Afridi and Umar Akmal added 54 for the sixth wicket, but Umar couldn't match his captain for power or placement. His first boundary took 30

balls and he was dropped at deep midwicket on 16 when Trott couldn't steady himself under a swirling chance. Umar's next top edge, as he went to pull

Broad, was pouched easily by Davies as the momentum changed again only for Razzaq to sign off in commanding fashion.Agencies

Angry England rejects corruption charges LONDON: England on Monday angrily rejected allegations from a senior Pakistani official that they were involved in match-fixing in the third one-day international against Pakistan last week. Pakistan Cricket Board chairman Ijaz Butt told a television channel on Sunday: "There is loud and clear talk in bookies' circles that some English players were paid enormous amounts of money to lose (Friday's) match." In a statement the England and Wales Cricket Board (ECB) said it completely rejected Butt's suggestions, which followed police questioning of four Pakistan players over allegations of spot fixing in the test series against England. "Butt's comments were wholly irresponsible and completely without foundation," the ECB said. In a BBC radio interview on Monday, Butt said he had no proof of wrongdoing and was merely relaying information he had heard from bookmakers about the match

at the Oval. "I have never said this. If you listen to the full tape of

international at Lord's and the final match in Southampton would go

Butt denies accusing England LONDON: Pakistan Cricket Board chairman Ijaz Butt insists his side is happy for today's fourth one-day international against England at Lord's to go ahead after denying he had proof that England players were involved in match-fixing. Butt claimed in an interview with NDTV that there was talk in the bookmaking fraternity that some England players had "taken enormous amounts of money" to fix the third one-day international against Pakistan at the Oval on Friday and added; "We have positive proofs (of the allegations) here before us."

Butt, speaking to BBC Radio Five Live this morning, said he had no proof of any wrongdoing and that he was merely relaying information he had heard from bookies. He said, "I have never said this. If you listen to the full tape of the NDTV interview, the bookies are saying this. I am not saying this." Asked about reports the remaining matches - at Lord's today and the Rose Bowl on Wednesday - could be scrapped by the ECB, Butt added: "If they (the ECB) want to scrap it they can scrap it, we will go ahead with it."-Online

the NDTV interview, the bookies are saying this. I am not saying this," he said. The ECB statement said Monday's fourth one-day

ahead as scheduled, although the match-fixing controversy has cast a pall over the series, which England lead 2-1.

"The ECB expresses its gratitude for the outstanding conduct of the England team this summer and will take all legal and disciplinary action which may result from Mr Butt's comments," the statement said. England captain Andrew Strauss said his team had "strong misgivings" about continuing with the series. "We do, however, recognise our responsibilities to the game of cricket, and in particular to the cricket-loving public in this country, and will therefore endeavour to fulfil these fixtures to the best of our ability," he said in a statement reflecting the acrimony caused by the latest allegations. Pakistan returned to Lord's on Monday for the first time since the fourth test against England last month. Test captain Salman Butt and pace bowlers Mohammad Amir and Mohammad Asif have been suspended after newspaper reports that they had arranged for deliberate no-balls to be delivered during the match.-Reuters

Berbatov hat-tricks against Liverpool LONDON: Dimitar Berbatov scored a brilliant hat-trick to give Manchester United a 3-2 win over Liverpool and Chelsea maintained their goalrush by thrashing Blackpool 40 in the Premier League on Sunday. United were dominant for the first hour with two goals for the Bulgarian striker, but two strikes in six minutes by Steven Gerrard dragged Liverpool level before Berbatov won it six minutes from time. Chelsea made it five wins out of five with 21 goals and one conceded after they ripped through promoted Blackpool with first-half goals by Salomon Kalou, Florent Malouda (two) and Didier Drogba.

The champions top the standings on 15 points, four clear of United and Arsenal, who drew 1-1 at Sunderland on Saturday. Manchester City moved up to fourth on eight points after beating Wigan Athletic 2-0 with goals by Carlos Tevez and Yaya Toure. Tottenham Hotspur, 3-1 comeback winners over Wolverhampton Wanderers on Saturday, are fifth on eight points and last season's top-five finishers now occupy the first five slots. In the day's big game at Old Trafford, United were in total control after Berbatov headed in a 42nd-minute corner and added a brilliant second by bringing down a cross on his thigh with his back to goal and

scoring with an overhead kick. RASH CHALLENGE Liverpool, who had offered nothing in attack, then profited

from rash defending which allowed Gerrard to pull one back with a penalty after 64 minutes and equalise with a

MANCHESTER: Manchester United’s Fletcher is challenged by Liverpool’s Gerrard during their English Premier League soccer match at Old Trafford.-Reuters

free kick six minutes later. United had shipped late equalisers against Everton and Fulham in recent weeks but this time they conjured up a winner as Berbatov headed his seventh goal in six games this season. "I was saying to myself it's going to be 10 but you end up 2-2; it was a travesty of a scoreline but a great result in the end," manager Alex Ferguson told Sky Sports. For the second week running a Drogba corner helped Chelsea into the lead inside two minutes, this time an unmarked Kalou tucking in at the far post. Drogba also provided the second after 13 minutes, crossing low for Malouda, then the

Ivorian striker got on the scoresheet when he swivelled on the edge of the box to bang in the third via a deflection. Malouda cracked in his second after a Kalou pull-back four minutes before halftime. Chelsea's fans sat back awaiting more goals but a combination of better Blackpool defence and a drop in attacking intensity led to a scoreless second period. "It's fantastic, through the years we improve and we try to score as many as we can," Drogba said. "We scored four in the first half and in the second we had so many chances so maybe this is something we have to think about even if the result was great."-Reuters

Tuesday, September 21, 2010

Continuation

WTO sees record trade growth of 13.5pc GENEVA: International trade will grow by a record 13.5 per cent this year, bouncing back from a dismal 2009 and signalling an improvement in economic activity around the world, the World Trade Organisation forecast Monday. The WTO had predicted in March that trade in merchandise goods would rebound 10 per cent this year as the world emerged

from recession but revised up its forecast because global trade flows had recovered faster than expected so far this year. The global commerce umpire now sees world trade growing at a faster rate than at any time since the data were first measured in 1950 as exports and imports surge, especially in China and other emerging economies. "This surge in trade

ARY group has decided to launch an Urdu language newspaper on the national level to keep the masses aware of current political and national issues.

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wouldn't sit to rest until every flood affectees is rehabilitated in his native area and Punjab government aimed to reconstruct 'Model Villages' in all the flood affected areas added that technical training centres would also be constructed for the youth of flooded areas to create employment opportunities for them. -Online

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Babar Awan, former DG Intelligence Bureau, Ejaz Shah, former interior minister Hamid Nawaz, former interior secretary, Kamal Shah, former spokesman of interior ministry, Javed Iqbal Cheema, Former CPO Rawalpindi, Saud Aziz in connection with Benazir Bhutto assassination case has been adjourned till September, 29. Amjid Iqbal Qureshi, counsel for Rehman Malik and Dr Babar Awan told the challan of this case would be presented in the court till August, 25 after investigations by FIA, therefore, the hearing be adjourned till this phase. -Online

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continuation of coordination and cooperation between the two bodies on all matters common to the respective agenda. -NNI

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Pakistan." Meanwhile, world powers made fresh aid pledges for Pakistan's flood disaster after a $2 billion UN appeal, but pressed the stricken nation to fully account for the money. UN Secretary General Ban Ki-moon called for an "urgent" global response to "one of the biggest, most complex natural disasters we have faced in the history of the United Nations". Britain doubled its flood aid to $210 million; United States said it is now offering $340 million and the European Union $350 million. Saudi Arabia said it has also donated $345 million in government and public funds. Even Iran allotted $100 million for its neighbour. But it was not immediately clear whether the $2 billion target was reached at the meeting of over 25 top ministers, including US Secretary of State Hillary Clinton. Aid groups expressed disappointment at the response. Furthermore, United States assured Pakistan of continued assistance and support for the flood-hit Pakistani people at a meeting between Secretary of State Hillary Clinton and Foreign Minister Shah Mahmood Qureshi. The 30-minute meeting between the two top diplomats took place on the fringes of the special high-level Meeting on the flood emergency in Pakistan at UN Headquarters in New York. Foreign Minister expressed profound gratitude of the people and the government of Pakistan to Secretary Clinton for the "generous assistance" provided by the US for the rescue and relief operations in flood affected areas, according to a statement issued by the Pakistan Mission to the UN. -Agencies

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trains or NLC, however, added that some private transporters also transport the goods. The court issued notice to the Member Customs over smuggling of Afghan transit trade cargo through the Nato containers and adjourned the hearing till Thursday. -Agencies

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capital equipment to get the economy humming again," Kuroda said. "The expansion of the Trade Finance Program in Pakistan will help ensure there are no financial bottlenecks when companies approach their banks to help import what they need to help Pakistan recover and rebuild," Kuroda added. The new TFP Flood Relief Facility for Pakistan will be split between support for the import of basic commodities - including food and medicine - and support for imports of capital equipment for agriculture and infrastructure reconstruction. ADB is also currently co-leading damage and needs assessment with the World Bank to examine what is needed to ensure Pakistan recovers. -Agencies

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private sector arm, will commit $400-500 million this year as well for microfinance, and trade finance", the WB President said. -Agencies

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Imran Farooq in London. The provincial election commission accepted the plea and adjourned the by-election till October 17. On the other hand, the Awami National Party (ANP) Sindh expressed serious concerns over the postponement of the by-election in the constituency.-NNI

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Well placed sources of Petroleum Ministry said that host of issues will take place during the course of the meeting. It is expected that marketing companies who are violating rules will be imposed heavy fines while their licenses will be cancelled. Issues like shortage of petrol and others will be discussed in depth as due to floods the oil refineries had been closed thus affected the process of distribution of petrol. -Online

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Qiu Jiangang, Vice President of the China National Nuclear Corp (CNNC), told a meeting in Beijing that the company was already looking beyond those deals to an even bigger plant. "Both sides are in discussions over the CNNC exporting a one Gigawatt nuclear plant to Pakistan," he said. Qiu confirmed the two countries have signed contracts to build No 3 and No 4 reactors of about 300 megawatts each at Chashma. "We must rely on the Pakistan Chashma nuclear power project to improve our ability to contract for nuclear power projects abroad, and to open up the foreign market for nuclear energy," the company said in an essay recently published. A senior Pakistani government official familiar with discussions said, "We are facing acute energy shortages and these nuclear power plants are important for us to overcome these shortages." "We as well as China have said time and again that all this cooperation is under the safeguards of the IAEA and there should not be any worries or concerns about it," said the official, who demanded anonymity. -Reuters

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with senior railway officers have been summoned to Islamabad on Sept 27 to further ponder over the issue. It has been reported that public has been deeply concerned due to the closing of trains and rise in fares and they were facing acute difficulties due to the decision. -Online

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Zulfiqar Mirza has ordered the capital city police to 'arrest the culprits who are causing this law and order situation'. 'We will not let anybody harm the peace in the city which is the financial backbone of the country,' he vowed.

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told Reuters. He said the final agreement would be signed in the next meeting of the four countries after the formal approval of their governments. -Reuters

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Network. Chief Executive Officer, ARY Digital Network and Group Managing Editor of the paper Salman Iqbal congratulated the journalists on joining the ARY Group. Shaam is an internationally famed journalist of Pakistan with 50 years of experience in the field. He also writes poems and has authored many books.

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The meeting discussed various proposals that were underway for the development of the capital markets and boosting of investors' confidence. These include the revamping of broker regime in areas of capital adequacy, code of conduct, credit rating, consolidation of brokers through requirements of adequate capital base and a robust compliance and inspection regime. The participants supported demutualization of the stock exchange while making the market more vibrant to attract investors that lead to better valuation of the exchange. The SECP emphasised upon the introduction of various measures to strengthen investors' protection and revive investors' confidence, which include an improved knowyour-client regime and the implementation of automation of securities project at the CDC. -Online

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spilling oil and ravaging its share price in April. BP ended the day up just over two per cent, with Royal Dutch Shell and BG Group also up over two per cent. Looking ahead, technical factors remain positive in the short term, said Nicolas Suiffet at Paris-based technical analysts Trading Central. "Both 20-day and 50-day moving averages are bullish with Bollinger bands widening substantially. Daily MACD is holding above its signal line and short-term momentum oscillators remain positive with further upward potential," he said. Next resistance should be met around 5,665 and 5,755 points "in the forthcoming days," although a break below 5,510 could see it decline towards next support at 5,350, said Suiffet. Gains at the US open helped underpin the FTSE, traders said, with all eyes on the next Federal Reserve interest rate decision on Tuesday and UK home sales data later in the week for the next macro push. Barclays ended up 2.8 per cent. Lloyds Banking Group was up 2.7 per cent. Miners also rose, lifted by gold's move to a fresh high, with Fresnillo ending up 0.7 per cent. Leading the FTSE fallers was insurance buyout vehicle Resolution, which ended down 1.6 per cent after a strong run prior to its entry to the FTSE 100 at the index's latest reshuffle. -Reuters

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Investor participation was little lower as 65 million shares traded during the day which were 1.5 million shares less as compared to a turnover of 66.5 million shares on Friday. Though market ended positive but most of the scrip closed in the negative zone as out of total 403 active issues 202 declined and 176 advanced while 25 issues remained unchanged.

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eight per cent to $21.58 after an influential trade magazine reported that it believed packaging producers have not been able to increase containerboard prices to customers. US-listed shares rose one per cent to $38.40 after the British oil major said it permanently sealed the oil well in the Gulf of Mexico that led to the disastrous oil spill. China Unicom Ltd will launch Apple Inc's latest iPhone in China next Saturday in a bid to claw back market share with the popular smartphone. Apple shares rose two per cent at $280.60. -Reuters

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Kunal Sukhani, manager of institutional equities at Asian Markets Securities. Bharti Airtel and Reliance Communications firmed 2.4 per cent and 5.1 per cent respectively. "We initiate coverage on Bharti with thumbs up to Africa," JM Financial said in a note adding they arrive at a "buy" rating for the stock. Idea Cellular bucked the trend and slipped 1.4 per cent as it said it continuously evaluates stake-sale proposals from time to time. Tata Consultancy Services scaled a new record high at 921.50 rupees. "We remain positive on tier-1 IT companies on the back of significant market share gains against global incumbents," JM Financial said in a note last Friday, adding that Infosys Technologies was its top sector pick. Infosys and Wipro rose 1.1 per cent and 0.1 per cent respectively, while TCS gave up early gains and shed 0.2 per cent at close. Hero Honda firmed nearly four per cent after a report suggested KKR & Co, TPG Capital, Carlyle Group and Bain Capital LLC are competing to acquire a part of Honda Motor Co's stake in the company. Bharat Heavy Electricals Ltd slipped 0.2 per cent as Credit Suisse downgraded the stock to "neutral" from "outperform". KSK Energy Ventures rose 5.5 per cent to 182.35 rupees. Hexaware Technologies jumped 9.5 per cent to 78.80 rupees. -Reuters

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As the differences between Pakistan Peoples Party and MQM are extending other political parties - particularly PML-N -- find it the best occasion to mend fences with MQM. Political pundits of the country consider the visit of Dar in the very same assumption. Dar reached here at MQM headquarter to expresses his condolences over the murder of Dr Imran Farooq in London. Analysts marking this visit as a big political move against the ruling party - PPP -- and the chances of no-confidence movement against Prime Minister Gilani have increased. The rumors obtained grounds when PML-N spokesman Pervez Rasheed declared quite openly his party's intention to move no-confidence motion against PM Gilani. It is vital to note here that PML-N has 95 lawmakers in the House while MQM holds 25 parliamentary seats, when added makes sum of 120. The numbers might be not enough for the shake-up, however would encourage other like-minded political forces to join the move.

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President speaks in memory of Mir Murtaza

SRINAGAR: Chairman of All Parties Hurriyat Conference (APHC) Mirwaiz Umar Farooq (L) meets with an Indian parliamentary delegation at his residence.

Iran casts doubts on IAEA credibility VIENNA: Iran said on Monday that the UN nuclear watchdog was suffering a crisis of "moral authority and credibility," underlining increasingly strained ties between Tehran and the International Atomic Energy Agency (IAEA). Ali Akbar Salehi, head of Iran's Atomic Energy Organisation, criticised the IAEA's latest report on the Islamic Republic's disputed nuclear programme as unfair and suggested that Western powers had influenced it. The report showed Iran pressing ahead with its atomic work, which the West suspects is aimed at developing nuclear arms, in defiance of tougher international sanctions introduced since June. Iran says its work is for peaceful uses only. "It appears that the agency is suffering from (a) moral authority and credibility crisis," Salehi told the IAEA's general assembly in Vienna, speaking in English. "The notion of political interference and influence has regrettably left its footprints even in the field of technical cooperation," he said. Relations between Iran and

the IAEA have deteriorated since Yukiya Amano took over as head of the agency in December. He has taken a blunter approach on Iran than his predecessor Mohamed ElBaradei, saying in his reports to the IAEA's board of governors that Tehran could be trying to develop a nuclear-armed missile now, instead of only at some point in the past. Iran said in June it had barred two IAEA inspectors, accusing them of reporting "misleading" information on its atomic work. Amano has said Iran's repeated barring of IAEA staff was hampering the agency's work and Western powers have accused Tehran of intimidating

the agency. Salehi said in his speech: "Recent inexcusable restrictions imposed by the agency (IAEA) on my country will certainly be counterproductive to the agency's claim for enforcing global nuclear safety standards." He denounced UN sanctions on Iran as "unjustified and illegal." Salehi also called on major powers to resume talks "without further delay" on a plan to provide nuclear fuel to a Tehran medical reactor. Seen at the time by the West as a potentially confidence-building step, talks stalled last year after the two sides failed to agree terms for an atomic fuel swap. -Reuters

Floods destroy 1.3mn hectares of crops

Pakistan agri losses to take 2yrs to recover: ADB ISLAMABAD: Agriculture sector will take up to two years to start recovering from devastating summer floods, the Asian Development Bank (ADB) said on Monday. The ADB and the World Bank are assessing the damage caused by one of Pakistan's worst natural disasters, which destroyed 1.3 million hectares of crops just before the harvest of key products such as rice, maize and sugarcane. "Once the country gets back on its feet, it will be able to meet part of those agricultural import needs that will happen over the

next two years," Philip Erquiaga, director general of ADB's private sector operations, told Reuters. "We are thinking within that time horizon we should be able to see the agriculture sector coming back," he told Reuters. The ADB said earlier it could provide Pakistan with around $1.5-$2 billion of trade finance to help with recovery and reconstruction after the floods, some $500 million more than it earmarked originally. The ADB expects half of that increase to be used for basic commodities, including food and medicine, said

Erquiaga. "The balance of that we will probably see coming in the form of capital goods imports related to reconstruction," he said. In 2009, ADB's Trade Finance Programme exposure of $249 million to Pakistan banks supported $983 million in trade. Pakistan has received $451 million from the International Monetary Fund (IMF) to help the country rebuild after the floods, the central bank said on Monday. The IMF has said the money will go toward Pakistan's budget and immediate foreign exchange needs. -Reuters

FBR survey spots 23,000 tax-evaders PESHAWAR: Federal Board of Revenue (FBR) has accomplished its tax survey across the country including Khyber Pakhtunkhwa (KP) and has exposed 23,000 tax evaders including 3,000 KP businessmen. FBR has discovered that there are 23,000 defaulters countrywide while 3,000 in KP. In its report FBR said that these defaulters have the capacity to pay the tax, and in spite of that neither they deposited the required amount in terms of tax nor

submitted their returns. FBR has completed its survey by the cooperation of concerned chambers of the provinces. Besides, FBR authorities have dispatched their report to finance ministry. It has stated in the report that only 1.5 per cent people are depositing their tax returns which is very low, out of which 50 per cents are salaried persons either private or government workers. Under the Enforcement Plan during action against

RIAZ NEWS AGENCY Cell # 0333-5373137

Tuesday, September 21, 2010

non-files approximately 59,199 files have been registered in Sales and Income Tax. By the cooperation of KP Chamber of Commerce tax survey work has been carried out successfully in 25 districts including Peshawar, Charsadda, Mardan, Nowshera, Dera Ismail Khan, Swat and Swabi. As it was started two months earlier and it was carried out before flood devastations in the country including KP. -Online

ISLAMABAD: President and Co-Chairman of the Pakistan People's Party (PPP) Asif Ali Zardari has said that Mir Murtaza Bhutto Shaheed would be remembered for dedicating his life to fighting against dictatorship. This he said in a message on the death anniversary of Mir Murataza Bhutto who was gunned down on this day in 1996 in a conspiracy to overthrow the PPP government. Mir Murtaza Bhutto endured the rigors of exile, the assassination of his father when he was in exile and the uncertainty of life but never gave up his opposition nor compromised with the dictatorship, the President said. The President said that Mir Murataza's killers might think that they have got away with murder but he believed that they would be exposed and punished in the fullness of time. Nature has its own strange ways to ultimately expose and punish the conspirators and wrongdoers, he said. "May Allah bless the soul of Mir Murtaza with a high place in heaven and bless the souls of those killed with him. May Allah grant patience to their heirs to bear this heavy loss." -INP

OIC dooms burn-Quran hoax scheme ISLAMABAD: Strongly condemning the hoax regarding 'Burn a Quran Day', the Organisation of Islamic Conference (OIC) has emphasised the need for establishing an observatory at the office of the UN High Commissioner for Human Rights to document the matters that pose grave danger to global peace, security and stability. On the final day of his visit to Geneva, OIC Secretary General Prof Dr Ekmeleddin Ihsanoglu met Navenathem Pillay, the UN high commissioner for human rights. He updated the UN high commissioner on the establishment of the OIC Independent Permanent Commission on Human Rights. The OIC secretary general emphasised that the commission would mark the beginning of a new era at the OIC with the mainstreaming of human rights matters in the agenda and the work of the organisation. On the issue of Israeli aggression against the Freedom Flotilla, the OIC secretary general highlighted that the constitution of a fact finding mission on the tragic episode by the Human Rights Council was upon the insistence and initiative of the OIC in accordance with the decision taken at the meeting of the executive committee held in Jeddah. Prof Dr Ekmeleddin also raised other matters of importance to the OIC including the resolution on defamation of religions assistance and support for the OIC Commission on HR to be established later this year. The UN high commissioner thanked the OIC secretary general for the updates and appreciated the increasing role of OIC under his dynamic leadership on the matters of importance to global peace and security, particularly the human rights. She in turn informed Dr Ekmeleddin with regard to progress on the Fact Finding Mission. Pillay assured full support and cooperation of her office during and after the establishment of the OIC Independent Permanent Commission on Human Rights. The UN high commissioner assured Dr Ekmeleddin of looking into the revival of the issue of the observatory and requested for the OIC participation as a cross regional organisation in all the forthcoming regional workshops on incitement of hatred. The meeting held at the office of the UN high commissioner ended with agreement on See # 3 Page 11

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Indian delegation visit to Kashmir termed as joke

IHK leaders shoot the dialogue down SRINAGAR: Terming the visit of Indian delegation to Kashmir as a farce, pro-movement veteran leaders including Mirwaiz Umer Farooq refused to hold a dialogue with the delegation led by Indian Home Minister Chidambaram and update them about the ground realities in the strained valley. All Parties Hurriyat Conference (APHC) Chairman Mirwaiz Umer Farooq Monday said he will not meet the allparty delegation from New Delhi visiting Jammu and Kashmir, saying it was "a façade and joke". An all-party delegation led by Home Minister P. Chidambaram arrived here to get a first hand impression of the situation in the Kashmir Valley where 102 civilians have died mostly in firing by security forces since June 11. APHC chairman in a memorandum sent to the delegation through media said that assault on the life and dignity of the Kashmiri people had been relentless and daily life in the homes and streets of the territory had been turned into a nightmare as the entire popula-

tion was being treated as hostage on its own soil. He maintained that the blockading of food, fuel, lifesaving drugs, nocturnal raids and illegal detention of youth, clampdown on the local media and thrashing of media persons in recent days was clearly an attempt at bullying and humiliating the Kashmiris. He deplored that Kashmir had been converted into a concentration camp by India, which was deliberately denying the Kashmiri people the right to life. He pointed out that New Delhi offered dialogue only when a major crisis erupted in Jammu and Kashmir and as soon as the situation improved it restored inherent political complacency and negligence. He proposed that Pakistan and India should set up Kashmir committees to develop and enter into a process of engagement with Kashmiri leadership to bring about a just solution of the dispute. Muhammad Yasin Malik, chairman of the Jammu and Kashmir Liberation Front said he would not meet the delegation but his group had forward-

More judges needed: Awan Special Correspondent ISLAMABAD: Federal Law Minister Dr Babar Awan emphasised on the need of more judges for speedy delivery of justice in the country. He was talking to a gathering on Monday after the curtain raising ceremony of Islamabad High Court. He said number of judges should be doubled in order to provide speedy justice to the people. Dr Awan said appointment of judges in superior court will be complete after the implementation of 18th amendment. "We all are waiting for the verdict by the Supreme Court over the 18th amendment," he said.

Rubbishing the intentions of change in government as illogical, he urged the government would complete its tenure and called to the aspirants of change that they should wait for 2013 elections. The present constitution does not permit erstwhile adventurism, he underlined. "We have the public mandate and power of people with us," he said Federal law minister said the government is giving financial autonomy to the provinces. Dr Awan also said that the government is complying with the orders of the court. He said PPP government has strong belief in freedom of media.

‘N’ tables motion over petrol dearth ISLAMABAD: The Pakistan Muslim League-Nawaz (PMLN) has moved an adjournment motion in the National Assembly Secretariat over the shortage and black-marketing of the petroleum products. The adjournment motion, signed by the PML-N MNAs including Muhammad Hanif Abbasi, Nuzhat Sadiq, Nighat Parveen Mir, Rana Mehmoodul Hassan, Shireen Arshad and Nisar Tanveer, stated that the whole county in general and Punjab in particular are facing acute shortage and widespread black-market-

ing of petroleum products. It said Ogra, instead of closely monitoring prices and supply of petroleum products, has turned a blind eye to gravity of the situation. "The concerned ministry and Ogra has failed to put their acts together to affectively counter the man-made crisis, thus allowing certain people and lobbies to make illegal gains," the motion said, adding: "It is, therefore requested to withhold the routine proceedings of the National Assembly to discuss the instant matter." -NNI

Benazir assassination case

FIA knocks cop’s name off ECL RAWALPINDI: Federal Investigation Agency (FIA) which is probing into Benazir assassination case has struck off name of Syed Ashfaq Anwar, a police officer from Rawalpindi from Exit Control List (ECL). The court was informed by FIA Monday name of Syed Ashfaq Anwar had been deleted from ECL in compliance with court's orders. Earlier Syed Ashfaq Anwar had moved application in the court praying that he was cleared from Benazir assassination case therefore, his name be struck off from ECL because he wanted to go abroad for education purpose.

The court had ordered for exclusion of his name from ECL. Later Syed Ashfaq Anwar had filed a contempt plea for non compliance of court orders in respect of deletion of his name from ECL. The court had issued contempt notice to FIA upon it. The hearing of petition filed by Chaudhry Aslam, former protocol officer of Benazir Bhutto, seeking registration of case against 12 persons including former president Pervez Musharraf, former chief minister Punjab Ch Pervez Elahi, interior minister Rehman Malik, law minister See # 2 Page 11

ed a memorandum addressed to the team. "They should understand the heartbeats of the Kashmiri people and go back," Malik said. "This visit has no utility if they just want to come here and go back." Spearheading the 'Quit Kashmir Movement' hardliner Syed Ali Shah Gilani opposed the proposal to interact with the delegation. Nevertheless, he said to welcome the guests. Some members of the 42member delegation are likely to call on Hurriyat leader Geelani at his Hyderpora residence here. Though Geelani has officially refused to meet them, he said the delegation members will not be turned away if they decide to call on him at his house as they are guests. However, People's Democratic Party president Mehbooba Mufti told IANS that the party had decided to send its delegation led by senior leader Muhammad Dilawar Mir to interact with the team. "The visit has been hijacked by the ruling party," she said, referring to the ruling National Conference. -Agencies

Saudi Arabia intelligence chief could meet Sharif ISLAMABAD: A delegation of Saudi Arabia led by Saudi Arabia's intelligence chief Muqrin bin Abdul Aziz would visit Pakistan in next few days to meet the Pakistan Muslim League-Nawaz (PML-N) chief Mian Muhammad Nawaz Sharif to discuss different matters related to Pakistan, reliable sources said on Monday. The delegation would meet Nawaz Sharif in Raiwind Palace and Punjab House while Nawaz has been informed about the delegation visit. Sources said that the delegation would convey the message of Saudi leadership while the visit is termed very significant due to current political situation of Pakistan. Earlier Saudi intelligence chief visited two years ago in the government of Pervez Musharaf when the government denied entry to Nawaz family in Pakistan. -NNI

Model villages in Punjab likely soon KOT MITHAN: PML-N chief Mian Nawaz Sharif reiterated that 'Model Villages' would be reconstructed in areas affected from flood devastations and the farmers and tenants would get the very land that they were cultivating before the flood wreckages. Addressing to the flood affectees during his visit of flood-hit areas of Rajan Pur here on Monday, he pointed that condition of flood affectees has been very miserable as the flood victims have lost their houses, their source of incomes, crops and cattle and in these circumstances Punjab government has been doing its best to facilitate the affectees and model villages would be constructed in all the flood-hit areas of the province. He also said that Chief Minister Punjab Mian Shahbaz Sharif has been living with the flood affectees from last one month to redress their problems related to food, shelter and rescue and distribute all the available resources among the flood victims. PML-N chief reiterated that the Punjab government See # 1 Page 11

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