International Karachi, Tuesday, February 1, 2011, Safar-ul-Muzaffar 27, Price Rs12 Pages 12
Rehman Malik says govt not soft on Davis
PR land scam: SC tells respondents to explain See on Page 12 JC to probe sugar price hike scam See on Page 12 B'stan unhappy on mines study See on Page 12
See Page 12
Brent hits record $100 over Egypt worries
Economic Indicators $17.30bn Forex Reserves (22-Jan-11) 14.61% Inflation CPI% (Jul 10-Dec 10) $10.98bn Exports (Jul 10-Dec 10) $19.13bn Imports (Jul 10-Dec 10) $(8.15)bn Trade Balance (Jul 10-Dec 10) $26mn Current A/C (Jul 10- Dec 10) $5.29bn Remittances (Jul 10-Dec 10) $1.05bn Foreign Invest (Jul 10-Dec 10) Rs 638bn Revenue (Jul 10-Dec 10) $58.41bn Foreign Debt (Sep 10) Rs 5497.4bn Domestic Debt (Dec 10) Repatriated Profit (Jul- Dec 10) $323.6mn -4.69% LSM Growth (Nov 10) 4.10% GDP Growth FY10E $1,051 Per Capita Income FY10 175.04mn Population
Portfolio Investment SCRA(U.S $ in million)
198.29 Yearly(Jul, 2010--28-Jan-2011) 2.90 Monthly(Dec, 2010--28-Jan-2011) 0.55 Daily (28-Dec-2011) 3065 Total Portfolio Inv (21 Jan-2010)
ISLAMABAD: Masood Ahmed, Director Middle East and Central Asia Department IMF, calls on President Asif Ali Zardari at Aiwan-e-Sadr. -APP
NCCPL (U.S $ in million) FIPI (31-Jan-2011)
1.01
Local Companies (31-Jan-2011)
-9.57
Banks / DFI (31-Jan-2011)
-4.62
Mutual Funds (31-Jan-2011)
3.86
NBFC (31-Jan-2011)
0.19
Local Investors (31-Jan-2011)
3.00
Other Organization (31-Jan-2011)
6.14
Global Indices Close
Change
KSE 100
12,359.36
103.34
Nikkei 225
Index
10,237.92
122.42
Hang Seng
23,447.34
169.68
Sensex 30
18,327.76
68.21
ADX
2,586.75
25.69
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2,790.69
37.94
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5,875.63
5.74
*Dow Jones
11,832.56
8.86
GDR update Symbols
$.Price PKR/Shares 111.29
MCB (1 GDR= 2 Shares) 2.60 OGDC (1 GDR= 10 Shares) 18.51
158.46 42.80
UBL (1 GDR= 4 Shares) 2.00 LUCK (1 GDR= 4 Shares) 1.70
36.38
HUBC (1 GDR= 25 Shares) 11.24
38.47
Money Market Update T-Bills (3 Mths) 26-Jan-2011
13.67%
T-Bills (6 Mths) 26-Jan-2011
13.71%
T-Bills (12 Mths) 26-Jan-2011
13.88%
Discount Rate
29-Nov-2010
14.00%
Kibor (1 Mth)
31-Jan-2011
13.39%
Kibor (3 Mths)
31-Jan-2011
13.72%
Kibor (6 Mths)
31-Jan-2011
13.83%
Kibor ( 9 Mths)
31-Jan-2011
14.16%
Kibor (1Yr)
31-Jan-2011
14.28%
P.I.B ( 3 Yrs)
31-Jan-2011
14.18%
P.I.B (5 Yrs)
31-Jan-2011
14.20%
P.I.B (10 Yrs)
31-Jan-2011
14.19%
P.I.B (15 Yrs)
31-Jan-2011
14.62%
P.I.B (20 Yrs)
31-Jan-2011
14.81%
P.I.B (30 Yrs)
31-Jan-2011
14.98%
Commodities *Crude Oil (brent)$/bbl 99.10 *Crude Oil (WTI)$/bbl 88.71 *Cotton $/lb 168.60 *Gold $/ozs 1,324.60 *Silver $/ozs 27.75 Malaysian Palm $ 1,247 GOLD (NCEL) PKR 37,163 KHI Cotton 40Kg PKR 11,574 *Last Updated 20:00 PST
Open Mkt Currency Rates Buy (Rs)
Sell (Rs)
Australian $
84.80
85.80
Canadian $
Symbols
85.30
86.30
Danish Krone 14.00
14.70
Euro
118.00
116.50
Hong Kong $ 10.90
11.00
Japanese Yen 1.030
1.056
Saudi Riyal
22.82
23.05
Singapore $
66.50
67.50
Swedish Korona 12.00
12.10
Swiss Franc
85.60
86.20
U.A.E Dirham 23.15
23.40
UK Pound
136.00
137.00
US $
85.95
86.25
Inter-Bank Currency Rates Symbols
Buying TT Clean Australian $ 85.13 Canadian $ 85.49 Danish Krone 15.63 Euro 116.52 Hong Kong $ 10.99 Japanese Yen 1.043 Saudi Riyal 22.82 Singapore $ 66.60 Swedish Korona 13.11 Swiss Franc 90.85 U.A.E Dirham 23.52 UK Pound 135.82 US $ 85.61
Selling TT & OD 85.33 85.69 15.67 116.79 11.02 1.046 22.88 66.76 13.14 91.06 23.57 136.13 85.79
Weather Forecast CITIES MAX-TEMP ISLAMABAD 22°C KARACHI 26°C LAHORE 22°C FAISALABAD 21°C QUETTA 17°C RAWALPINDI 22°C
MIN 3°C 14°C 5°C 4°C -1°C 4°C
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Davis Case
IMF delegation meets President, PM
Let court decide: Zardari
RGST Bill near consensus:govt
ISLAMABAD: President Asif Ali Zardari has said that the matter of Raymond Davis, involved in the killing of Pakistani nationals in Lahore already before the courts and it would be prudent to wait for the legal course to be completed. While Prime Minister Yousuf Raza Gilani while reaffirming Pakistan's strong commitment to defeat the forces of terrorism has stressed that military gains in that war cannot be consolidated unless the people of the cleared areas see socio-economic development and higher job opportunities on the ground. A US congressional delegation Monday separately called on President Asif Ali Zardari at Aiwan-e-Sadr and Prime Minister Yousuf Raza Gilani at PM House. The delegation included Representatives Darell El Issa, Todd R Platts, Jason Chaffetz, Stephen F Lynch, Brian M Higgins and Raul See # 12 Page 11
Curfew in Egypt to stop march CAIRO: A coalition of opposition groups called for a million people to take to Cairo's streets Tuesday to demand the removal of President Hosni Mubarak, the clearest sign yet that a unified leadership was emerging for Egypt's powerful but disparate protest movement. In an apparent attempt to show change, Mubarak named a new government Monday. But the lineup dominated by regime stalwart was greeted with scorn by protesters camped out for the fourth day in the capital's central Tahrir, of Liberation, Square. See # 13 Page 11
Advisors to CM Sindh cut down to five KARACHI: The government of Sindh has removed 12 advisors including Advisor to Chief Minister Sindh Qaim Ali Shah, Sharmila Farooqi under 18th amendment here on Monday. As per details, government of Sindh has removed 12 advisors to Chief Minister including Sharmila Farooqi, Jamil Soomro, Imtiaz Shaikh, See # 14 Page 11
'Reforms to put Pak back on track' Special Correspondent/ Paul Roass. Agencies Dr Abdul Hafeez Shaikh, Finance Minister, Salman ISLAMABAD: President Faruqui, Secretary General Asif Ali Zardari while urg- to the President, Dr ing IMF to continue its eco- Nadeem-ul-Haq Deputy nomic support to the war- Chairman Planning ravaged and flood-stricken Commission, Shahid H economy said that Kardar, Governor State Government is pursuing Bank, Hina Rabbani Khar, economic reforms and will MOS for EAD/Finance and continue to do so despite other senior officials repredifficulties and constraints. sented Pak side during the This he said during his meeting. meeting with Masood President said Ahmed, Director, Middle Government was making East and Central Asia efforts to evolve a consenDepartment IMF, at Aiwan- sus on the proposed tax e-Sadr Monday. reforms and other issues Masood Ahmed was relating to economy. accompanied by IMF offi- However, being the cials Adnan Mazaeri and See # 5 Page 11
Poverty Reduction Strategy Paper
WB vows to help Pak attain goals ISLAMABAD: The overall vision of Poverty Reduction Strategy Paper (PRSP-II) is to steer Pakistan's economic growth back to the range of 5-7 per cent per year by stimulating growth in the production sector; creating adequate employment opportunities; improving income distribution; and harnessing the country's economic competitiveness through economic liberalisation, deregulation and transparent privatisation. "The strategy recognises that to steer Pakistan back on a path of broad-based growth, create jobs, and
reduce poverty, a prolonged period of macroeconomic stability, financial discipline and sound policies is required", World Bank's Country Partnership Strategy (CPS) 2010-2013 report, released here said. According to the World Bank report on Pakistan, during the previous Country Assistance Strategy (CAS) period strong growth and rapid poverty reduction through 2007 stalled as the economy faced crisis in 2008. The report said that an ambitious reform program See # 9 Page 11
Int’l prices down by $111/tonne
Local LPG now Rs12/kg cheaper ISLAMABAD: Following the remarkable reduction in LPG prices in international market, distributors companies have announced to scale down the prices by Rs12 per kilogram here Monday. New prices will take effect from (Tuesday) today. Prices of LPG have dropped by 111 dollars or Rs11268 per metric ton in
international market and in the wake of this development,; the price of domestic cylinder will go down by Rs133 and commercial cylinder by Rs532. Muhammad Irfan Khokhar, Chairman LPG Zonal Standing Committee and LPG Distributors Association Pakistan has said fall in the prices of See # 10 Page 11
PTA may axe BlackBerry services for foreigners KARACHI: Pakistani authorities have asked mobile telephone operators to stop BlackBerry services to foreign missions in the country amid concern about the security of the communications, industry sources said on Monday. Two industry officials confirmed that the regulator, the Pakistan Telecommunication Authority (PTA), had asked them to stop all Blackberry See # 11 Page 11
NEW YORK: Brent crude oil futures surged above $100 a barrel for the first time in 28 months on Monday on concerns that anti-government protests in Egypt could create instability across the Middle East, possibly disrupting oil shipments through the Suez Canal. In London, ICE Brent crude for March delivery shot up to $100.05 a barrel, rising 63 cents on the day. At 11:22 a.m. EST (1622 GMT), it was trading at See # 6 Page 11
Deregularisation of POL prices suggested
Ogra holds POL prices, cuts levy 7.5pc dam duty from refineries may also be lifted
Special Correspondent/ Rs4.47 to Rs2.20, levy on Islamabad. Agencies HOBC was reduced from According to details, after Rs7.43 to Rs4.84 and levy the implementation of the ISLAMABAD: Oil and on Diesel was cut down proposal Oil and Gas Gas Regulatory Authority from Rs4.37 to 55 paisas Regulatory Authority (Ogra) Monday night has only. (OGRA) will lose the right announced to keep the Furthermore, Petroleum of fixing the petroleum Petroleum Products prices Ministry has finalised the prices in Pakistan. for the month of February proposal of fixing the petroleIt has been learnt that intact while cut the levy on um prices on deregulatory about 7 to 8 rupees differdifferent POL products. basis in the country that will ence could be observed in According to the notifica- create 7 to 8 rupees difference petroleum prices in federal tion issued, petrol price will between the intra-city prices. capital and other cities of remain Rs72.96 per litre; Petroleum Ministry Punjab with respect to the diesel Rs78.33; HOBC sources informed on prices in Karachi. Rs86.67 and Kerosene oil Monday that the decision Government is also conRs70.95 per litre. has been taken in a meeting sidering removing the 7.5 Meanwhile, Ogra has chaired by Petroleum per cent dam duty from decided to end Rs2.55 levy Minister Syed Naveed refineries, which is expecton Kerosene oil, while levy Qamar of oil marketing ed to be implemented in here in June this year, sources told. PESHAWAR: At least 5 on petrol was reduced from companies persons, including DSP Red Cross fears Tunisia-style unrest Peshawar Rasheed Khan, were killed and 15 injured on Monday when a suicide bomber targeted the DSP vehicle here on Kohat ISLAMABAD: Food insecurity caused by Monday. road. devastating floods in Pakistan could evenIncreasing disasters and conflicts across As per details, DSP tually lead to social unrest similar to that the world and shrinking aid from traditionRasheed Khan was on his seen in Tunisia, the head of the internation- al Western donors meant emerging See # 7 Page 11 al Red Cross federation warned on See # 8 Page 11
DSP among 5 killed in suicide blast
Food crisis may lead Pak unrest
2
Tuesday, February 1, 2011
Extremism eating away the country: Kaira
ISLAMABAD: Federal Minister for Information and Broadcasting Qamar Zaman Kaira addressing the National Seminar "Role of Educational Broadcasters in Eradication of growing tendencies of Intolerance and Violence in Society" at Allama Iqbal Open University Auditorium.-Online
9 EPZs set up in country ISLAMABAD: The Export Processing Zone Authority (EPZA) has established nine Export Processing Zones (EPZs) all across the country so far. Out of theses, three EPZs have been set up at Risalpur, Sialkot and Gujranwala under joint ventures whereas other six exclusive EPZs have been established at Saindak, Reko Diq, Duddar, Tuwairqi, Khalifa Coastal Oil Refinery and Gwadar. Risalpur EPZ is a joint venture with Sarhad Development Authority (SDA) established in 2002, said a press statement adding the Sialkot EPZ is a joint venture with Punjab Small Industries Corporation (PSIC) established in 2005 whereas Gujranwala EPZ is also a joint venture with PSIC. Saindak EPZ has been leased to Chinese firm M/s MCC Resource Development Co. Ltd. at district Chagai in Balochistan in 2003 whereas Reko Diq EPZ was leased to an Australian firm M/s BHP, at district Chagai in Balochistan, it added.-APP
Macca Motors upholds high sales
Economic Dialogue commences today Staff Correspondent LAHORE: In an attempt to explore all available solutions to the ongoing economic crisis, the Lahore Chamber of Commerce and Industry is holding Economic Dialogue- 2011 at its premises today. Leading Economic experts, policy makers and top-notch business leaders would be giving their views to clear the murk and bring transparency in the decision making of the government and the private sector. The decision to initiate an Economic Dialogue has been taken as the growing gap between revenue and expenditure has increased the vulnerability of economic framework, requir-
ing the federal and provincial governments to tighten belt with a view to putting economy on track. All areas of the economy including Reformed General Sales Tax, Fiscal Deficit, bad governance, implications of non-availability of low cost money to the business community, energy shortage, heavy government borrowings, negative growth in Large Scale Manufacturing Sector, food security, complications in taxation system and law and order situation would be touched upon at the Economic Dialogue 2011. The President Lahore Chamber of Commerce and Industry Shahzad Ali Malik would be the chief Guest
while LCCI Senior Vice President Sheikh Mohammad Arshad would also give his point of view. Dr Akmal Hussain, Chairman APTMA, Gohar Ijaz, Dr Pervaiz Tahir, Dr Rashid Amjad, Dr Shujat Ali, Almas Haider are the keynote speakers. The Lahore Chamber of Commerce and Industry has since long been calling for a sector specific strategy to deal with the issues being faced by the economy. And the very objective of holding the Economic Dialogue 2011 is to give the government a roadmap for economic revival as a number of internal and external challenges to the business community have now started taking their toll..
ICCI criticises high key rates ISLAMABAD: There is a total uncertainty in the country's economic sector due to high mark-up rates, hence the policy makers should take steps to bring down mark-up rate to increase investment for improving the economy. Islamabad Chamber of Commerce and Industry (ICCI) expressed its strongreservation over State Bank of Pakistan's decision to maintain the same level of policy rate. Such policy restrains investment and trade activities in
KARACHI: Suzuku Macca Motors, the authorized 3S Dealership of Pak Suzuki Motor Co Ltd., one of the leading Pakistani Automobile manufacturer have upheld their past grand sales record. They have once again received the Best Performance Award in the sales of motor cars while Pak Suzuki Motor Co. Ltd. Has successfully managed to attain their 53% marked share of automobile Industry. Suzuki Macca Motors maintain highest sales position since 1999 and TFD Report this has possible due to the mutual cooperation and conKARACHI: The tinued outstanding support Association of Chartered of the valued customers.-PR Certified Accountants (ACCA) has launched Foundations in Accountancy, a new flexible suite of entrylevel awards, designed to meet the needs of both students and employers. Foundations in was created TV PROGRAMMES Accountancy after detailed consultation with employers, learning TUESDAY providers, members, students and other professionTime Programmes al accountancy bodies and 7:00 News regulators. 8:00 News 9:05 Subah Savere Maya Foundations in ke Sath Accountancy provides a 11:00 News solid grounding in finan11:30 Hal Kya Hai (Rpt) cial and management 12:00 News accounting, and includes a 13:10 Newsbeat (Rpt) module in professionalism 14:10 Tonight With and ethical behaviour. Jasmeen (Rpt) Arif Masud Mirza, Head of 15:00 News ACCA Pakistan says: "With 16:00 News Foundations in Accountancy, 17:30 Samaa Metro students will benefit from the 18:00 News flexible range of entry points, 18:30 Samaa Sports meaning they can begin at the 19:00 News right level for them, and then 19:05 Hal Kya Hai progress through the awards. 19:30 Crime Scene And when it comes to flexi20:03 Newsbeat bility, they can complete 21:00 News qualifications in their own 22:03 Tonight With time, selecting those which Jasmeen best suit their own career 23:00 News 23:30 24 needs and aspirations."
ACCA’s flexible suite awards
Pakistan and continually hampers growth of manufacturing in Pakistan, Mahfooz Elahi, President of ICCI has said, addressing a business community at Islamabad Chamber of Commerce and Industry. Elahi said the high markup rate was kept unchanged against expectations of a 50 basis points reduction and a weak economy exercise continues to give a double blow to borrower's payment capacity. He said an interest rate
of 14 percent is one of the highest in the world as compared to India at 6.25 percent, China at 5.56 percent, Thailand at 1.5 percent and South Korea at 2.25 percent. The domestic exporters have become uncompetitive in export market due to massive overheads, he maintained. President of ICCI urged that SBP should cut the discount rate to provide relief to industry that is facing various problems mainly increasing cost of doing business.-Online
SCB’s new head of Global Markets Staff Reporter KARACHI: Standard Chartered Bank (Pakistan) Limited announced the appointment of Dr. Naim Abdullah as the Head of Global Markets. Dr. Naim Abdullah replaces Tariq Mushtaq Chaudhry who has moved to Standard Chartered regional office in Dubai to take on his new assignment. In his new role, Dr. Abdullah will be responsible for the strategy, development and management of the Bank's Global Market business in Pakistan.
Mohsin Nathani, Chief Executive of Standard Chartered said: "Dr. Abdullah's appointment highlights Standard Chartered's continued commitment to the Global Markets business and serving the needs of our client base in the country. His appointment will drive and grow our Global Markets capabilities." Dr. Abdullah joins the Bank from the Royal Bank of Scotland, previously ABN AMRO, in Pakistan, and has more than 15 years of experience in the banking and finance industry.
New CEO of KASB TFD Report KARACHI: KASB Securities Ltd. have named Nadir Rahan as its new CEO. He will succeed Farid Masood, who is pursuing an international opportunity in the Middle East. A Wharton graduate, Nadir brings 20 plus years of senior management experience in corporate and investment banking, sales, trading and direct investments for a number of
multinational and domestic firms. "I am very pleased to be joining KASB Securities at this exciting time," Nadir said. "The KASB Group has long been a leader and an innovator, with many 'firsts' to its name. I am very proud to have the opportunity to help build on that tradition, as we continue to lead the industry; in both quantitative and qualitative terms, in all the business activities we undertake."
ISLAMABAD: Federal Minister for Information Qamar Zaman Kaira has said that Pakistan is facing terrorism and extremism which is eating away the country like termites. Addressing a seminar in Allama Iqbal University, he said extremists want to impose their ideologies through force and the whole nation needs to be united for getting rid of extremism. He said extremists as damaging the country and they wants to impose their vision in country and nation should fight mutually against these extremists. HE said Pakistan is facing political and economic hurdles due to dangerous waves of terrorism. He said terrorisms wants to impose their laws and views in country but we will foil their plans with the help Pakistan army. He said dialogue is the only way to eliminate extremism.-Online
Sumsam urges unity against challenges KARACHI: Minister of State for Information, Syed Sumsam Ali Shah Bukhari has called for forging unity and oneness to successfully confront the challenges faced by the country. He was talking to reporters at the Karachi Press Club on Monday. The Minister said that Karachi is the business hub and gateway of Pakistan and contributing towards its development, progress and the law and order tantamount to contribution towards the betterment and stability of the country. For this, he added, concerted efforts would have to be made by all those who live here irrespective of their background and affiliations. Sumsam Bukhari further pointed out that Karachi is the city
of all the people. He emphasised the need for fostering the spirit of unity, tolerance and brotherhood. The Minister pointed out that there are some elements who want to divide people on the basis of language, regions and sects etc, but that would not be beneficial for the country. He asked all, including men of letters, intellectuals to play their role towards promoting the spirit of unity and brotherhood and for the progress and prosperity of the country and thus complement the government's efforts in this regard. Sumsam Bukhari said that the political leadership, civil society, intellectuals should tackle the problems and put the country on the path of
progress and development. Replying to a question regarding the US citizen Raymond Davis case in Lahore, he said the decision in this regard would be made by the court in accordance with the law of the land. To a question about the case of Dr. Afia, the Minister said that we have taken steps in this regard at the diplomatic level. To a question pertaining to the 10 points of the PML-N Chief Mian Muhammad Nawaz Sharif, the Minister said that concrete step should be taken for resolving these issues and some would be solved in 45 days' time and some would take more time. He further stated that the steps in the right direction are being taken.-APP
BQATI for waiver of unjust water charges KARACHI: Patron-inChief of Bin Qasim Association of Trade and Industry (BQATI), Mian Muhammed Ahmed has requested the competent officials of Port Qasim Authority for waiver of unjustified waters charged, which are being taken by it from the consumers of trade and industry of Port Qasim. This fact was stated by him Monday in a press release of the Association after non emergence of any fruitful results and ignorance of a constitution of a specific Committee comprising officials of PQA Board and BQATI to resolve the prolonged problems of complainants. He said the BQATI has made a detailed study about the unjustified water charges of Port Qasim Authority, which are more exorbitant than the actual rates of Karachi Water and Sewerage Board.-NNI
PICIC-CF Interim pay out Staff Reporter KARACHI: The Chief Executive of PICIC Asset Management Company, the management Company of PICIC Cash Fund (PICKCF), on behalf of Board of Directors, approved the following interim payout: A bonus of Rs 1.2700 per unit 1.2700% on the initial NAV). An investor holding 100 units as of Jan25 will get 1.2692 units on the exbonus price of Rs.100.0660 per unit, the proportionate will apply to actual holdings.
EOBI midyear performance conf today ISLAMABAD: Syed Khursheed Ahmed Shah, Federal Minister for Labour and Manpower will inaugurate a 3-day midyear conference of Employees' OldAge Benefits Institution (EOBI) today at Ministry of Religious Affairs' Committee Room, G-6, Civic Centre Melody Market, Islamabad. The main agenda of the meeting is review of progress, action and devising newer strategies for the future.-PR
LAHORE: Models walk down the ramp during dresses/fashion show of Ali Shan at a local hotel.-Online
Evening clinic at NICVD KARACHI: National Institute of Cardiovascular Diseases (NICVD) will start its evening private patients clinic for white collar citizens from today.Executive Director of NICVD, Prof.Khan Shahzaman told journalists on Monday that the initiative is meant to cater to the cardiac care needs of mid-income groups. "They not only are unable to visit hospitals in the morning hours, due to job constraints, and also generally
can not afford to pay the consultant's fee in their private clinics," he said. "NICVD would charge a nominal fee of Rs.600 that includes consultancy fees, ECG and hospital services," said the NICVD chief in reply to a question. The evening clinic, to be conducted by senior cardiologists and cardiac surgeons of NICVD, for three hours on every working day, initially between 5 p.m to 8 p.m. would also focus on employ-
ees of companies as Pakistan Petroleum Ltd, Pakistan International Airlines etc. "The income generated from this clinic will be utilized for the treatment of non-affording general ward patient," said Dr. Khan Shah Zaman. This will also enable NICVD to make optimum use of the facilities that are not be used after official working hours," he said and referred to ECHO and ETT as well other important gadgets.-APP
3
Tuesday, February 1, 2011 Top Economic Events
Inflation data boosts euro, Egypt fears ease a bit Euro gains as euro-zone inflation data tops estimates NEW YORK: A jump in euro-zone inflation lifted the euro above $1.37 on Monday and bolstered the view interest rates in the region could rise more quickly than in the United States and other advanced economies. That helped the euro reverse the losses it suffered on Friday as unrest in Egypt drove up oil prices and sparked a safehaven bid for dollars and Swiss francs. Asian central banks and some Middle East accounts were among the most active euro buyers, traders said, and some said the euro could renew a march toward $1.40 in the weeks ahead, provided trouble in Egypt does not spread to other countries. Brad Bechtel, managing director at FX execution firm Faros Trading in Stamford, Connecticut, said inflation expectations and month-end buying could
drive the euro to $1.3750, adding "$1.40 is still on the cards" if Egypt tensions die down. While protesters filled the streets of Cairo for a seventh straight day, investors seemed to take heart that violence and disorder had at least not worsened. "After Friday, people anticipated coming in to chaos and anarchy in Egypt. When that didn't happen, a lot of shorts were caught wrong-footed," said Boris Schlossberg, director of research at GFT Forex. The euro rose as high as $1.3739 and was last up 0.6 per cent at $1.3700.
Overnight, $1.3570, the 50 per cent retracement of its November-to-January decline, acted as support, bringing in buy-
ers from Asia and the Middle East. Sterling jumped 1 per cent to $1.6014, lifted by euro gains in a reverse of Friday's losses. The euro also rose against the Swiss franc and yen. The dollar was down 0.2 per cent at 81.96 yen. Weekend reports that the European Union was working on a solution to reduce Greece's debt burden also helped
boost the euro, traders said. Data showing euro-zone inflation rose 2.4 per cent in the year to January, above the European Central Bank's 2 per cent target, boosted the view the ECB could hike rates sooner than the Federal Reserve. The three-month Euribor rate, a mix of interest rate expectations and banks' lending appetite, rose to 1.074 per cent, the highest since July 2009. Citing a high US jobless rate, the Fed has made it clear it is not close to raising US interest rates from near zero, even as US economic data has shown signs of improvement. Data Monday showed US consumer spending rose for a sixth straight month in December, while business activity in the Midwest grew more than expected this month. -Reuters
Egypt triggers broad decline Yuan finishes down in emerging Asia currencies as holiday looms SINGAPORE: Emerging Asian currencies fell broadly on Monday, with the Thai baht hitting a five-month low, after violent protests in Egypt caused oil prices to spike and prompted investors to dump riskier assets. Higher energy prices have exacerbated fears that some Asian policymakers are falling behind price pressures. The baht and the Indian rupee have lost about 3 per cent against the dollar so far this year, and traders say Indonesian authorities have shielded the rupiah against a deeper fall. The rupee and the rupiah are expected to be more vulnerable than other currencies in the region if the unrest in Egypt spreads to other Middle
Eastern countries and pushes up oil prices further. "In the near term, Asian currencies suffer from heightened risk aversion, especially when there have been profit taking flows in previous weeks. IDR may be hit more on central bank credibility and INR also be hit more on current account deficits," said Frances Cheung, a strategist at Credit Agricole CIB in Hong Kong. The rupee and the rupiah fell 0.4 per cent against the dollar from their previous closes. South Korea's won fell 0.6 per cent, snapping a string of five consecutive sessions of advances against the dollar, as foreign investors dumped local stocks, although the local currency found some relief from
exporters' demand for endmonth settlements. Foreign investors sold a net 693.8 billion won ($618.6 million) worth of stocks, more than four times of amount that they unloaded on Friday. The baht hit a near fivemonth low against the dollar, breaking through a 200-day moving average, and dealers and analysts expected the currency to fall more. The dollar/baht touched 31.18, the highest since Sept. 8 last year, breaking through a 200-day moving average of 31.16. The pair may be able to hit 31.50 in a near term, said Pin Ru Tan, emerging markets forex and rates strategist at the Royal Bank of Scotland in Singapore. -Reuters
Sterling tracks euro, up vs USD on rate view
Swiss franc little changed vs euro, dollar
LONDON: Sterling rose against the dollar on Monday, lifted by gains in the euro on data showing the risk of higher inflation in the euro-zone, while investors brushed off concerns about political unrest in Egypt. The pound rode the coattails of the euro, which rallied after data showing a higher-thanexpected jump in January inflation further fuelled speculation
for higher euro-zone interest rates. "Cable has been knocked around by euro/dollar. The euro has managed to claim back losses versus the dollar," said Jane Foley, currency strategist at Rabobank. Still, he added that an increase in rates would not be needed should recent economic weakness lead to a sustained downturn. Monetary tightening by the European Central Bank and the BoE would raise the returns on euro-zone and UK assets com-
pared with those held in dollars as the Federal Reserve is not seen raising rates any time soon. By 1510 GMT, sterling had climbed more than half a per cent on the day to a session high of $1.5965. Traders said demand for sterling ahead of the BoE's final daily fix pushed the currency higher in late London trade. Earlier in the day, market participants said demand from
Asian sovereigns and US names were helping to boost the pound, but analysts said the currency may struggle to climb above a resistance level around $1.6060, a high hit in December. The euro was little changed at 85.80 pence, relinquishing earlier gains as traders said a UK bank was selling the single currency. The pound is poised to end the month roughly 2 per cent higher versus the dollar, pushed higher on anticipation that UK rates may rise as early as in the first half of the year.-Reuters
ZURICH: The Swiss franc looked poised for further gains on Monday as investors, worried about the unrest in Egypt, are putting money in traditional safe havens such as the franc. Recent upbeat news from the Swiss economy and confident comments from the Swiss National Bank were also seen supporting the franc. "Geopolitics has not really been an issue for some years, but Egypt will undoubtedly impact and market uncertainty is likely to stir demand for the franc," Informa Global Markets analyst Tony Nyman said. "We could get a return to 1.25 per euro this week, although trade is fairly steady for now," he said. The franc was little changed against the euro compared to Friday's New York close, trading at 1.2819 per euro at 0748 GMT. The franc was also near flat against the dollar at 0.9405 per dollar. Traders said the franc may test its all-time highs against the greenback, hit at the end of December around 0.93. The next support levels for the dollar were 0.9380 and 0.9330 before the big level at 0.9270, one Zurich-based trader said. -Reuters
Australian dollar regains ground; RBA seen holding WELLINGTON/SYDNEY: The Australian and New Zealand dollars regained early losses on Monday as risk aversion over the unrest in Egypt was countered by renewed gains in commodities and a bounce in some Asian stock markets. The Aussie dollar edged up to $$0.9924 on Monday, recovering from a morning sell-off that took the currency down to $0.9864 but still short of last week's highs around parity. Geopolitics took central stage initially amid concerns that simmering tensions in Egypt might spread to other Arab countries and disrupt oil supplies. But by midday, risk appetites were starting to revive, underpinned by a strong equity market opening in Shanghai which gained 1 per cent. Copper also climbed to its highest since 2007. "We need the situation in Egypt to get a lot worse to really push the Aussie down out of the $0.97-$1.02 range that it's been in for the last few months," said Joseph Capurso, strategist at Commonwealth Bank. "It's a risk that could happen but I wouldn't place a very high probability on it." At home, this week's focus is on the Reserve Bank of Australia (RBA) which is holding its monthly policy meeting on Tuesday. It is virtually certain to
keep its cash rate steady at 4.75 per cent amid signs past hikes were working to restrain inflation while floods across Queensland were set to drag on the economy in the near term. A private gauge of consumer prices showed underlying inflation slowed in January even as flood damage sent some food costs surging, adding to the case against a rise in interest rates anytime soon. The New Zealand dollar was around $0.7716 in late trade, recouping from an earlier low of $0.7687, helped by the Aussie and firmer stock market futures. "The kiwi has bounced back a little bit with US equity futures bouncing," said Westpac senior strategist Imre Speizer, adding there was no impact from soft local data on the currency. Support for the kiwi was still seen at $0.7660 and $0.7642, with $0.7737, the Jan 28 hourly high, seen as the first line of resistance. The Aussie hovered around NZ$1.2852 against the kiwi and has now given up all of its December gains which saw it as high as NZ$1.3505 at one stage. Both currencies lost ground against the yen on risk aversion. The Aussie had shed one yen to 81.45 yen since Friday and the kiwi fell to 63.29 yen, from a Friday high of 64.11 yen. -Reuters
SHANGHAI: China's yuan closed lower versus the dollar on Monday and finished the month of January with a fall as activity thinned ahead of the week-long Lunar New Year holiday that begins on Wednesday. Sluggish trade has capped the yuan's capacity to strengthen, but the currency is expected to rise steadily after the holiday and is seen appreciating 5 to 6 per cent in 2010 based on China's economic strength and its increasing willingness to move into a more flexible exchange rate regime, traders said. "With many traders from other provinces having left for the holiday, banks tend to trade only on real demand," said a trader at an Asian bank in Shanghai. "More opportunities should emerge after the Lunar New Year, with the yuan expected to rise 5 to 6 per cent in 2011." In a sign of further readiness to bring reforms to a still rigid currency system, the foreign exchange regulator said on Sunday that it would permit banks to trade yuan/foreign currency swaps on behalf of their clients from March 1. Spot yuan ended at 6.6030 against the dollar compared with 6.5860 at Friday's close. It
has now risen 3.38 per cent against the dollar since its depegging last June. Before trading began on Monday, the People's Bank of China fixed its mid-point slightly stronger at 6.5891, up from Friday's 6.5930, a move that traders said signalled the central bank was setting a floor for the yuan at 6.60 against the US currency. The latest rate was 0.2 per cent weaker than the 6.5897 hit at the end of December, although the yuan hit a record trading high of 6.5808 this month, guided by a slew of record-high central bank midpoints, the level from which the yuan may rise or fall 0.5 per cent on a given day. The yuan also traded in a rare wide range of 6.5854 to 6.6193 on Monday. Offshore, benchmark oneyear dollar/yuan non-deliverable forwards were bid at 6.4730 late on Monday, up from 6.4660 at Friday's close. Their implied yuan appreciation in a year's time fell to 1.80 per cent from 1.91 per cent. So far this year, NDFs have persistently implied 12-month yuan appreciation of only around 2 per cent against the dollar, lagging far behind forecasts by most traders and analysts. -Reuters
Indian rupee off 2-month low MUMBAI: The Indian rupee ended down but off a twomonth low on Monday, helped by gains in the euro, but domestic share losses weighed on the local unit. Dealers, however, see the rupee weakening further on the back of weak global cues and continued outflow of foreign institutional investor funds. "The rupee could weaken further quite easily. I don't think there are too many positive triggers," said Ashtosh Raina, head of foreign exchange trading at HDFC Bank. He expects the rupee to trade in a broad range of 45.50 to 46.50 per dollar in the near term. The partially convertible rupee ended at 45.90/91, after falling to 46.01, its lowest since Nov. 30. It had closed at 45.7525/7625 per dollar on Friday. Foreign funds were net sell-
ers of $1.19 billion worth of shares this month until Friday, pushing the rupee down over 2 per cent. Last year, investments had reached a record $29.3 billion, helping the unit gain 4.1 per cent. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange was at 46.13 per dollar, MCX-SX at 46.1275 and United Stock Exchange was at 46.1350. Total traded volume was $7.36 billion. -Reuters
Time 6:00 7:30 8:30 12:00 13:15 13:55 14:00 14:30 14:30 15:00 20:00
Source CNY CNY AUD GBP CHF EUR EUR GBP GBP EUR USD
Events Manufacturing PMI HSBC Manufacturing PMI Cash Rate Nationwide HPI m/m Retail Sales y/y German Unemployment Change Final Manufacturing PMI Manufacturing PMI Net Lending to Individuals m/m Unemployment Rate ISM Manufacturing PMI
Source
Events
JPY JPY EUR EUR CAD CAD USD USD USD
Prelim Industrial Production m/m Housing Starts y/y German Retail Sales m/m CPI Flash Estimate y/y GDP m/m RMPI m/m Core PCE Price Index m/m Personal Spending m/m Chicago PMI
Forecast 54.1 4.75% -0.3% 2.6% -11K 56.9 58.0 0.6B 10.1% 57.8
Previous 53.9 54.4 4.75% 0.4% 1.8% 3K 56.9 58.3 0.7B 10.1% 58.5
Actual
Forecast
Previous
3.1% 7.5% -0.3% 2.4% 0.4% 4.2% 0.0% 0.7% 68.8
2.9% 4.8% 1.9% 2.4% 0.2% 3.3% 0.1% 0.6% 65.5
Previous Day 1.0% 6.8% -1.9% 2.2% 0.2% 3.5% 0.1% 0.3% 66.8
Currencies Rate Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY Gold
As per 22.00 PST Ask High 1.3715 1.3730 0.9404 0.9443 1.5952 1.5957 0.9980 1.0026 0.9952 0.9963 112.5500 112.6800 0.8599 0.8617 1.2896 1.2916 130.8500 130.9400 87.2600 87.3200 1329.0000 1345.9000
Bid 1.3715 0.9402 1.5951 0.9978 0.9951 112.5500 0.8596 1.2892 130.8100 87.2200 1327.7800
Low 1.3571 0.9396 1.5822 0.9962 0.9865 111.4300 0.8564 1.2780 129.8600 87.0300 1323.7000
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 31/01/2011 A USD GBP CAD EUR JPY O/N 0.23531 0.55688 0.95167 1.23125 SN 0.10563 1WK 0.25375 0.57063 0.99833 0.89375 0.11125 2WK 0.25563 0.57438 1.03583 0.87625 0.11563 1MO 0.26000 0.59875 1.08333 0.86500 0.12750 2MO 0.28313 0.65938 1.14917 0.91250 0.15313 3MO 0.30438 0.77688 1.21500 1.02375 0.18875 4MO 0.34500 0.85625 1.28000 1.09000 0.24313 5MO 0.40113 0.96000 1.34167 1.16938 0.30000 6MO 0.45381 1.07438 1.41000 1.25938 0.34750 7MO 0.50750 1.15288 1.49167 1.30750 0.39625 8MO 0.55750 1.23813 1.56667 1.36500 0.44313 9MO 0.61438 1.31875 1.63167 1.41750 0.48750 10MO 0.66719 1.39750 1.72167 1.46875 0.51438 11MO 0.72156 1.46563 1.80000 1.51875 0.54125 12MO 0.78125 1.53313 1.89167 1.57375 0.56750
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Bank of Canada March 1, 2011 September 8, 2010 Bank of England February 10, 2011 March 5, 2009 Bank of Japan February 14, 2011 December 19, 2008 European Central Bank February 3, 2011 May 7, 2009 Swiss National Bank March 17, 2011 March 12, 2009 The Reserve Bank of Australia February 1, 2011 November 2, 2010 Federal Reserve n/a December 16, 2008
Current Interest Rate 1% 0.50% 0.10% 1% 0.25% 4.75% 0.25%
Division of National Bank of Pakistan (NBP) KARACHI, January 31,2011 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
85.80 136.07 116.68 85.73 91.06 85.11 13.17 1.05 14.74 66.73 15.65 22.88 11.01 13.02 307.42 28.05 66.20 23.56 23.36 0.08 2.75
85.60 135.76 116.40 85.53 90.85 85.92 13.14 1.04 14.70 66.58 15.62 22.82 10.98 12.99 306.70 27.99 66.05 23.51 23.30 0.08 2.75
85.42 135.45 116.12 85.31 90.61 84.69 13.11 1.04 14.67 66.40 15.58 22.76 10.95 12.95 305.89 27.91 65.88 23.44 23.24 0.08 2.74
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for January 31, 2011
KASB
BMA
ELXIR
GSL
ICSL
12.80 12.85 12.85 13.30 13.44 13.54 13.58 13.65 13.75 14.05 14.14 14.15 14.18 14.20 14.22 14.23 14.23 14.24 14.60 14.80
12.80 12.85 12.90 13.22 13.45 13.52 13.58 13.68 13.78 14.15 14.19 14.22 14.20 14.30 14.30 14.28 14.05 14.12 14.60 14.75
12.75 12.85 13.00 13.19 13.50 13.54 13.58 13.72 13.76 13.98 14.15 14.16 14.18 14.26 14.29 14.24 14.15 14.19 14.60 14.75
12.85 12.90 12.90 13.32 13.50 13.57 13.68 13.75 13.84 14.00 14.23 14.24 14.25 14.28 14.30 14.30 14.15 14.20 14.65 14.90
12.95 13.00 13.10 13.35 13.50 13.55 13.60 13.65 13.80 14.05 14.20 14.22 14.20 14.30 14.35 14.23 14.20 14.22 14.55 14.75
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 12.85 12.80 12.85 13.20 13.50 13.57 13.62 13.70 13.80 14.00 14.18 14.20 14.20 14.27 14.35 14.23 14.16 14.18 14.70 14.90
12.83 12.88 12.93 13.26 13.48 13.55 13.61 13.69 13.79 14.04 14.18 14.20 14.20 14.27 14.30 14.25 14.16 14.19 14.62 14.81
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
-0.70 -0.85 -0.73 -0.78 -0.72 -0.78
0.84 0.19 -0.17 0.00 0.78 0.80
-0.56 -0.72 -0.69 -0.81 0.25 0.41
0.63 -0.05 -0.15 -0.28 0.67 0.73
EUR/USD GBP/USD -0.02 -0.44 -0.64 -0.76 -0.33 0.05
0.85 0.08 -0.41 -0.45 -0.71 -0.22
NZD/USD USD/CAD -0.50 -0.79 -0.74 -0.77 -0.78 -0.74
-0.79 -0.45 0.41 0.58 0.31 0.70
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)31/01/2011 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
ABLN 12.60
13.10
12.60
13.10
12.75
13.25
13.50
13.75
13.60
13.85
13.70
14.20
13.80
14.30
14.00
14.50
JSBL
12.90
13.40
12.95
13.45
13.10
13.60
13.50
13.75
13.60
13.85
13.75
14.25
13.85
14.35
13.95
14.45
ASPK 12.80
13.30
12.85
13.35
12.90
13.40
13.50
13.75
13.60
13.85
13.70
14.20
13.80
14.30
13.90
14.40
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
DBPK 12.75
13.25
12.75
13.25
12.80
13.30
13.45
13.70
13.55
13.80
13.60
14.10
13.65
14.15
13.80
14.30
FBPK 12.75
13.25
12.80
13.30
12.90
13.40
13.45
13.70
13.65
13.90
13.70
14.20
13.85
14.35
13.95
14.45
FLAH 12.80
13.30
12.85
13.35
12.90
13.40
13.55
13.80
13.65
13.90
13.70
14.20
13.80
14.30
13.90
14.40
HBPK 12.75
13.25
12.80
13.30
12.90
13.40
13.50
13.75
13.60
13.85
13.70
14.20
13.80
14.30
13.90
HKBP 12.80
13.30
12.90
13.40
12.95
13.45
13.50
13.75
13.65
13.90
13.70
14.20
13.80
14.30
13.90
14.40
NIPK
12.75
13.25
12.95
13.45
13.25
13.75
13.40
13.65
13.50
13.75
13.60
14.10
3.70
4.20
3.80
14.30
HMBP 12.75
13.25
12.75
13.25
12.90
13.40
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
SAMB 12.60
13.10
12.75
13.25
12.90
13.40
13.45
13.70
13.55
13.80
13.55
14.05
13.75
14.25
13.85
14.35
MCBK 12.75
13.25
12.75
13.25
12.75
13.25
13.45
13.70
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
NBPK 12.75
13.25
12.80
13.30
12.90
13.40
13.40
13.65
13.50
13.75
13.65
14.15
13.80
14.30
14.00
14.50
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
UBPL 12.80
13.30
12.80
13.30
12.80
13.30
13.45
13.70
13.60
13.85
13.65
14.15
13.80
14.30
13.95
14.45
AVE
13.26
12.80
13.30
12.89
13.39
13.47
13.72
13.58
13.83
13.66
14.16
13.78
14.28
13.89
14.39
CIPK
SCPK
12.76
14.40
4 Tuesday, February 1, 2011
Can there be a replay of Tunisia?
The Financial Daily International Vol 4, Issue 169
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board S. Muneer Hussain Rizvi
Haseeb Khan, FCA 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: 92-21-35311893-6 Fax: 92-21-35388428 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
Don’t be so apologetic Mr Gilani Lately, Prime Minister Yousuf Raza Gilani sought US influence for the disbursement of the next tranche of International Monetary Fund (IMF) due in March 2011 to facilitate the government to prepare the budget for the next fiscal year. He considers US influence crucial in getting the next IMF tranche released. This may be a good diplomatic approach but we consider it more important to let the IMF know achievements made by Pakistan despite all odds. Last year, Pakistan witnessed the most devastating floods and much of the pledges made by the donors have not been received as yet. Floodaffected people cannot be made to wait for their rehabilitation. Therefore, the government has no option but to drastically cut its development and non-development expenditure and to divert the resources for providing relief to the flood victims and rehabilitate them as early as possible. Despite current economic difficulties Pakistan has remained fully committed to the war on terror. It is necessary to bring on record that delays in payments released under the Coalition Support Fund (CFS) and ongoing operations against the militants groups by the Armed Forces the government to borrow excessively higher amounts from the central bank as well as the commercial banks. The positive point is that lately the government has retired substantial quantum of debt. The most encouraging point is that during the first half of the current financial year, country's current account was in surplus. This could be attributed to the positive trend in the national economy and the outcome of the steps taken by the government, evident from substantial increase in exports, record receipt of home remittances and the all-time high foreign exchange reserves. Another positive point is that according to the provisionally collected numbers the Federal Board of Revenue (FBR) has collected Rs747.270 billion up to January 26, 2011. Out of these, direct taxes amounted to Rs266.426 billion and sales tax collection Rs322.60 billion. The sales tax collection at the import stage was Rs163.298 billion, whereas sales tax collection on domestic consumption was Rs159.302 billion. This means that tax collection was as per target but attention has to be paid of the expenditures. Lately, Dr Hazeef Shaikh, Federal Finance Minister and Ishaq Dar, the financial wizard of PML-N addressed a joint press conference raising hope that some extravaganzas would be contained. Experts have been saying that much of the wastage can be contained simply by capping some non-development expenditures. A positive signal has been given by the central bank by not opting for any increase in policy rate, despite the fact that all the economic groups were ready to take up to 50 basis points increase. Now it is the responsibility of the private sector to reciprocate by accelerating economic activities in the country. Ground realities may be harsh but a commitment to bring change will be certainly requited by the masses.
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.
Farooq Adil
T
unisia has seen a revolt and 'revolution' is unfolding in Egypt. Many in Pakistan see the tide reaching Pakistan and MQM Chief Altaf Hussain's Jan 30 speech gives the message loud and clear. The situation in the country is already volatile which demands to wake up, but there may be an attempt to connect any kind of anarchy created in near future with the uprising in Arab states, but if it happens, this cannot be called as the extension of the situation in Egypt, Yemen or Tunisia, rather the part of conspiracy under the cover of people's movement. With the beginning of New Year there have been some significant and rapid developments in Pakistan as well as in the region. The assassination of Governor Punjab and its fallout, particularly the opposing statement of Pope Benedict, the eruption of factional rivalry resulting into target killings in Karachi, the rejection to North Waziristan operation as conveyed by the Pakistan government, the political deadlock between two top political parties and its subsequent consequence, are a few examples to name. Amidst all there came a strong message from the Pakistan side to rebuff any attempt to initiate the "Great Game" in Afghanistan. Though, all aspects may require separate examining, the foremost appears to be the looming 'Great Game'. Although it is not new, yet the term 'Great Game' is used for the strategic rivalry and conflict between the British
Empireand the Russian Empire for supremacy in Central Asia. The classic Great Game period was from the Russo-Persian Treaty of 1813 to the Anglo-Russian Convention of 1907. A second, less intensive phase followed the Bolshevik Revolution of 1917. The Great Game dwindled after the United Kingdom and Russia became allies of the World War II. The prevailing incursions in Afghanistan and Central Asia are synonymous and replicate a similar phenomenon. This is also being categorized as New Great Game where domination of the Central Asian states and Caspian Sea is the major goal. However, this has also become as old as a decade or so. Then why suddenly a need has arisen to refute it at this point and time? Is there yet another game in the offing? If it is so, then it would be really mischievous. Therefore it requires a pragmatic and in-depth analysis. The US plans to start handing over responsibilities to Afghan security forces by mid 2011 and complete it by 2014. For the purpose the work has to start now. Accordingly, an intense activity in the months to come is envisaged. The pullout of sizeable troops from Afghanistan is likely to create vacuum. To fill in that, America is keen to create space for an Indian role in Afghanistan. This is obvious in the backdrop of increasing strategic bondage between India and the United States. The US aspirations to contain Chinese influence by positioning India on a vantage point should also be kept
in sight. However, the neighboring countries and major players are not willing to grant such a concession. As Pakistan believes that if India is assigned any dominant role, it could pave way for 'Great Game' in Afghanistan and probably that is what is being refuted. The phenomenon may have to be viewed while drawing inferences from the policy of reshaping borders of various countries with a view to bringing peace in the world. Such an idea was floated first through an article published during 2006 wherein Pakistan's borders along with few other countries were suggested to be re-demarcated. In this context an independent Balochistan and Pushtun territory extended further towards south should better serve the West and India both. Subsequently there came another pulse seeking idea of division of Afghanistan on ethnic basis drawing a line between Pushtuns and others. There is another reality and that is Pushtun domination in Afghanistan. Anyone who wishes to rule Afghanistan has to take the Pushtuns along. As Taliban constitute significant proportions of Pushtun community, proposal of their integration seems a compulsion of all stake holders. The Afghan Taliban, though, demonstrate ideological rigidity and do not exhibit pre 2001 passion for Pakistan, yet, their leaning towards India remains out of question because of ideological variance. Therefore, the proposal of integration of even a modest Islamist faction and that too a Pushtun would in
fact jeopardize Indian designs. As a matter of fact, India has always drawn more rhetoric from enmity of Pakistan than anything else. The enhanced role of Indians is likely to do nothing but to exacerbate the internal environment of Afghanistan rather than bringing peace. Nevertheless, it would facilitate India to create turbulence in Pakistan which remains its ultimate objective. India has invested heavily in Afghanistan. There are various economic ventures which are underway by New Delhi. India has opened a number of consulates along the PakistanAfghanistan border. Indians' involvement in Balochistan while operating from Afghanistan is not a secret now. As far as other countries, it is likely to have inverse bearing on certain regional countries particularly China and Iran. India's covert rivalry towards China is not much veiled now. Despite exorbitant cooperation with each other in economic field, both countries do exhibit craving for overpowering each other. On the other hand Iran has a commonality with India with regard to its leaning towards the Afghanistan's Northern Alliance. Accepting an Indian role in Afghanistan, however, may deter Iran due to growing strategic partnership of India with America. If analyzed in totality, the contours of the 'Great Game' are somewhat clear. Whereas it is considered detrimental to Pakistan's security, it is equally challenging for China and Iran. The strategic maneuvering by all stake-holders in the months to come is therefore highly important.
Ghosts of Deluge S
ix months after Pakistan's epic floods demolished this farming village in the southern province of Sindh, its residents still live in limbo on a roadside. Let down by their unpopular government, and too poor to rebuild their homes, villagers living in tents can only pray the next monsoon season in July won't bring more upheaval. "We are hardly getting any help," said Alimi Khoso, pointing to a dirty plaster around her two-month-old granddaughter's leg, broken in an accident in a tent camp. "Where will we go if there are more floods. We don't even have enough money to run away." Monsoon floods began roaring through Pakistan in late July last year, leaving about 11 million people homeless. The government was slow to respond while the military, seen as a far more efficient institution, took the lead in relief operations. Pakistani leaders could face fresh criticism if dire conditions in flood-affected areas worsen. Many communities in Sindh are still surrounded by floodwaters and hundreds of thousands of people still live in temporary shelters, even though more than
$1 billion in flood aid has been delivered to Pakistan, a strategic U.S. ally. In Ramli Khosa, about 1,5OO people reside in rows of bare, white tents donated by Arab and Western aid groups. They must travel about a kilometer to fetch water in tough conditions felt in many floodaffected parts of Sindh province, which was hardest hit by the disaster. In interviews in several villages only a few people said they received compensation from authorities -- 20,000 rupees ($233.9). That doesn't go far. Prices remain unbearably high after floods destroyed crops and cut food supplies. Farmers say it could be years before they are able to plant again. To survive, some toil as laborers, earning about a dollar a day. Government help is unlikely to come soon. Pakistan's government has been preoccupied by political crises and already faces a host of other problems, from power cuts to a stubborn Taliban insurgency. Even if it decides to step up efforts to help millions of flood victims who sank deeper into poverty after the catastrophe, generating enough funds will be
Mullah Omar in Pakistan? A highly colored story is circulating in International press that Mullah Omar went under cardiac surgery in a private hospital of Karachi with help of ISI. It seems as if I were reading a comic story or piece of a despicable detective tale. I guess this is the wildest schizophrenic mind set demonstrated by "The Eclipse Group" a private spy organization funded by CIA. Anyway, I would like to share some information with taxpayer citizens of United States that Karachi is the largest and thickly populated city of Pakistan. It has entirely a metropolitan lifestyle and its terrain is quite different from Afghan cities, it is not somewhat hidey-hole like tora-bora of Afghanistan. Most of the Pakistani media headquarters are located in Karachi and due to present political climate and target killings, DSNG/OB vans are roaming on the streets of Karachi to take the
lead in coverage of any breaking news. Under such circumstances, none of the high profile or suspicious activity can carried out unnoticed. Knowing all the realities on ground, some time international media intentionally sow misconceptions. One should not forget U.S lie of the century that Iraq has Weapons of Mass Destruction (WMD) and in fact, that was not the last since more blunders are coming up from the pipeline. No wonder, if we encounter some more paranoid propaganda like Mullah Omar loves pizza or ISI bought a wide screen LCD for Mullah Omar to watch cricket world cup. These are no more than lark mirrors to distract U.S public and world from the reality in Afghanistan where NATO forces are trapped in a blind alley, longing for more tax money. Jahanzaib Javed Islamabad
difficult. Without implementing painful economic reforms, the government will keep struggling to secure the sixth tranche of an $11 billion IMF loan propping up the economy. "The flood issue adds to the government's long list of woes. The state is already stretched in many directions," said Kamran Bokhari, South Asia director at STRATFOR global intelligence. People like Qurban Ali have been largely forgotten both at home and abroad. Ali stood over some bricks -what's left of his flattened house -- glued together with a mixture of sand and cement to form a small frame, a tiny step toward recovery. "How can I plan to rebuild it without any help from the government,' he asked, as mangy dogs lingered nearby. A group of angry men held up a document which promised a local official would deliver six sacks of staple foods. He delivered only three and demanded a bribe, they alleged. Ruling Pakistan People's Party spokeswoman Fauzia Wahab said the government was doing its best to help flood victims. "We are providing the farmers
free-of-cost fertilizer and seeds. But as you know we still have a problem with cash," she told Reuters. MEDICINE IS TOO EXPENSIVE Resentment is also growing elsewhere in Sindh, home province of President Asif Ali Zardari. In Murad Chandio village, Pakistan Red Crescent volunteers unload sacks of flour from a truck as dozens of people who returned only a month ago line up for help. It may temporarily ease suffering. People there want long-term stability, and that can only come from the government. Families live beside wreckage, protected only by blankets hanging above them. It's easy to see why many are terrified at the thought of new raging waters. "People's resilience has been really affected. Even any low level flooding in future is going to be a problem. They may not be able to cope," said Penny Sims, a Red Cross spokeswoman. The ripple affects of the floods are felt most acutely in the downtrodden parts of Sindh. Economic devastation has left families unable to care for their neediest loved ones. Ten-year-
old Gulbahar Hidayatullah's bone disease, rickets, is inflicting even more pain because relatives can't afford to buy her enough medicine to treat it. While some youngsters pass time playing beside the destruction left by the floods, a relative has to hold her up. Other children have been set back in different ways. In Ramli Khoso, an 85-year-old toothless woman named Allahrakhi walked barefoot with a tree branch she uses as a cane. She barely had the energy to express her biggest worry -- her grandson may be deprived of an education because floods have kept him out of the classroom. "I want him to have money so he can go to school, so he can get married one day," she said, trembling. Others worry about just getting their children through the next few weeks or months. In Adam Khan village, located beside a canal with stinking, stagnant water left by the floods, a woman lies in a tent. She gave birth there a day earlier without medical attention because the cost of transport to a clinic was too steep. The infant yawns in the heat, flies swirling over her sweaty face.-Reuters
Missing persons: Myth & Reality Toeing the line of foreign propaganda of maligning the image of the Army and defaming the role of agencies our own analysts are having one stance as well. Each day whether in print or electronic media there is a constant stress that agencies have a dubious role when it comes to the question of missing persons. Perhaps, we do not recognize that this is exactly the aim of propaganda, that instead of enemy our own people exploit the message in a way the propagandist wants. The case of missing persons is a reality and the mental distress the families go through cannot be explained in words, but placing the blame on agencies only needs a second thought. There are other dimensions to this issue. As the trend of fighting for a cause is propagated by one group the minds already predisposed may be influenced to the extent that the individuals leave without informing anybody at home. They may join the extremist forces and keep themselves unknown for the safety of their families. Then, if they die while fighting who will find them. Then there are the ones who are kidnapped by terrorists due to some animosity or ransom. There are also youngsters who go abroad without informing their families. There are also cases of dual identity cards and passports. People show themselves in one country whereas they reside in other place or there duplicate is living somewhere else with their name
and identity. Even some may go in hiding due to fear or blackmailing. It also needs to be understood that a certain rigid mindset has also emerged where immediately without any verification people blame the agencies as it happened at the murder of Justice Javed's parents. Very important public figures openly gave statements that as Justice Javed was working on missing person's case this might be the result. But, later on what reality came to the fore was totally different. Agencies may have apprehended people due to security reasons but they are released after interrogation or some information is given to their families. There may be some cases when it comes to terrorism as it is a very serious issue disturbing not only our peace and stability but placing us in a very awkward position. In today's open world and free media the role of agencies has also gone a transformation. Now they are not after individuals without any evidence or proper inquiry, rather they are giving more importance to look after issues trying to destabilize the country. At this stage when enemies of Pakistan are trying to create a wedge between the Government and the people by using various tactics it is important that efforts be made to restore and strengthen the bond of trust between our own people and institutions. Anwar Parveen, Rawalpindi
5
Tuesday, February 1, 2011
South East Asian stocks
Down on Egypt unrest; Manila at 5-month low
European shares gain on strong corporate outlook KSE-100 Index Opening Closing Change % Change Turnover (mn)
12,462.70 12,359.36 -103.34 -0.83 121.35
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,849.50 3,774.83 -74.67 -1.94 3.90
ISE-10 Index Opening Closing Change % Change Turnover (mn)
3,055.77 3,026.54 -29.23 -0.96 0.15
Major Gainers
Symbol
Close
Change
NESTLE 3,404.64 RMPL 2,385.08 FZTM 433.86 CPL 193.57 IDYM 239.95
110.89 65.08 12.78 9.21 5.00
Major Losers
Symbol
Close
Change
UPFL 1,160.01 SIEM 1,107.00 NRL 310.03 ULEVER 4,530.24 LAKST 263.16
-56.98 -28 -16.31 -16.04 -13.85
Top 5 Volume Leaders
Symbol LOTPTA NCL PTC FFBL ENGRO
Close Vol (mn) 15.34 24.14 18.59 41.02 212.82
11.47 8.00 7.40 6.69 5.64
Active Issues Plus Minus Unchanged
143 237 15
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to Nov 10) 5,463 Urea Offtake (Nov 10) 845 Urea Price (Rs/50 kg) 870 DAP Offtake (Jan to Nov 09) 121 DAP Offtake (Nov 10) 152 DAP Price (Rs/50 kg) 3,137
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Nov 10) Sales (July 10 to Nov 10) Production (Nov 10) Sales (Nov 10)
33,929 32,092 7,087 6,813
INDUS MOTOR CO Production (July 10 to Nov 10) 20,987 Sales (July 10 to Nov 10) 20,375 Production (Nov 10) 3,974 Sales (Nov 10) 3,753
HONDA ATLAS CAR Production (July 10 to Nov 10)6,626 Sales (July 10 to Nov 10) 6,247 Production (Nov 10) 1,145 Sales (Nov 10) 1,075
DEWAN FAROOQ MOTORS Production (July 10 to Nov 10) 186 Sales (July 10 to Nov 10) 70 Production (Nov 10) 0 Sales (Nov 10) 0
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (December 3,10) 4,824,464 Advances (December 3,10) 3,050,639 Investments (December 3,10) 1,916,917 Spread (October 10) 7.49%
OIL MARKETING CO (000 tons) MS (Jul 10 to Nov 10) MS (Nov 10) Kerosene (Jul 10 to Nov 10) Kerosene (Nov 10) JP (Jul 10 to Nov 10) JP (Nov 10) HSD (Jul 10 to Nov 10) HSD (Nov 10) LDO (Jul 10 to Nov 10)) LDO (Nov 10) Fuel Oil (Jul 10 to Nov 10) Fuel Oil (Nov 10) Others (Jul 10 to Nov 10) Others (Nov 10)
PRICES (Ex-Refinery) MS (1 Dec 10) MS (1 Nov 10) MS % Chg Kerosene (1 Dec 10) Kerosene (1 Nov 10) Kerosene % Chg JP-1 (1 Dec 10) JP-1 (1 Nov 10) JP-1 % Chg HSD (1 Dec 10) HSD (1 Nov 10) HSD % Chg LDO (1 Dec 10) LDO (1 Nov 10) LDO % Chg Fuel Oil (1 Dec 10) Fuel Oil (1 Nov 10)
932 186 66 12 589 124 2,792 612 26 4 3,641 572 3 1
Rs 45.15 44.53 1.39% 52.04 51.25 1.54% 52.27 51.48 1.53% 55.20 54.24 1.77% 50.52 49.51 2.04% 43,019 42,046
Down ‘internationals’ de-gain KSE Nawaz Ali KARACHI: Despite intra-day bullish activities spurred by SBP’s rate-hold surpriser, Karachi Stock Exchange (KSE) ended red as weak global stock markets and rumors of a slash in refineries' deemed duty triggered selling. The benchmark KSE 100Index fell by 103 points -0.83 per cent-- to close at 12,359 points while KSE 30-Index dropped 142 points -1.17 per cent-- and KSE All Share Index lost 70 points -0.82 per
cent-- to close at 12,009 points and 8,569 points respectively. "The SBP's unexpected upholding of the interest rate at 14 per cent provided the early impetus, but fear of foreign selling due to weak international markets following the Egyptian crisis and belowexpectation result of Lucky Cement soon took its toll on the market", said Ahmed Rauf, equity dealer at JS Global Capital. Refineries closed at lower limits, as rumours of the deemed duty possibly being
HK pares losses; China markets up HONG KONG/SHANGHAI: Hong Kong shares fell on Monday, tracking declines across Asia as unrest in Egypt prompted investors to pull back from riskier assets, although a rally in heavyweight oil counters helped limit losses. Hong Kong's Hang Seng ended 0.7 per cent lower but closed out the month with a 1.8 per cent gain, despite steady declines since Jan 19 as investors worried that they may have been too optimistic at the start of the year. China's main stock index ended up 1.4 per cent at a twoweek closing high, underpinned by selective buying in some sectors seen supported by government incentives, but slipped 0.7 per cent for the month. A weak market in Shanghai on the back of government policy tightening fears put a dent to the strong start to 2011 for the Hang Seng, which is down 4 per cent since its January high as short-selling activity steadily picked up over the last two weeks. Asian markets were broadly lower on Monday as oil prices spiked higher on concern over instability in the Middle East
and North Africa, regions that together produce more than a third of the world's oil, compounding fears of inflation in emerging markets. "The focus will be on oil prices with the fear of a drawnout resolution to the protests in Egypt, but other macro data this week may give the market some direction in the short term," said a London-based trader at a large European bank. In the coming week, investors can expect manufacturing data from major economies including the United States and China, a European Central Bank rate meeting on Thursday and the latest US employment report on Friday. SHANGHAI UP Despite US stocks suffering their biggest one-day loss in nearly six months on Friday, the Shanghai Composite Index rose for the third straight session to finish at 2,790.7, extending last week's 1.4 per cent rise. But the index is still down for the month due to a shortfall of cash in the domestic money market, a raft of anti-inflation measures including a hike See # 16 Page 11
India shares in worst mthly fall in over 2yrs BANGALORE: Indian shares on Monday posted their worst monthly fall in more than two years, tracking weak global markets as anti-government protests in Egypt led to risk aversion, with inflation and rate rise fears further dampening sentiment. The 30-share BSE index shed 0.4 per cent on Monday leading to a 10.6 per cent fall in the month, its lowest since October 2008. "There is a lot of concern in the market about food security, oil prices," said Arun Kejriwal, director of research firm KRIS. "Most certainly a dead cat bounce is overdue, but I am not sure if that will make a difference to the direction of the market." Telecoms stocks ended lower on India's plan to de-link second-generation radio (2G) spectrum that now comes free with telecoms licences and ask companies to pay for spectrum based on market-linked prices. Bharti Airtel ended 2.6 per cent lower, while Reliance Communications shed 2 per cent. Idea Cellular closed 0.8 per cent lower. The top two software firms Tata Consultancy Services and Infosys Technologies were among the top losers, falling 2.2 per cent and 1.8 per cent respectively, on growing
uncertainty about the outsourcing business momentum. The chief executives of Tata Consultancy and Infosys told Reuters last Friday at Davos that Europe's debt crisis and rising inflation at home could slow the growth that they have enjoyed in recent years. The main index fell 68.2 points to close at 18,327.76, with 17 of its components losing ground. "Egypt is not a very big market for foreign institutional investors. There will be a reaction because of how it may affect the other regions, but a major reaction won't happen in India," said R.K. Gupta, managing director of Taurus Mutual Fund. More than 100 people have been killed during six days of protests in Egypt aimed at toppling President Hosni Mubarak. A wider conflagration in the region could threaten the flow of oil at a time when policymakers in emerging markets are already bedeviled by high food and fuel prices and some developed economies are gaining momentum. Indian investors' sentiment has also been dented by soaring inflation and rate rises that are starting to hit corporate margins and leading to more foreign fund managers slashing holdings. -Reuters
ANNOUNCEMENTS Company Clariant Pak Frontier Ceramics Lucky Cement Ltd. Habib Modaraba Exide (PAK) J.D.W.SugarXDXB Habib SugarXDXB Colony Sugar Mills Sakrand Sugar Haseeb WaqasXD
Period Yearly Yearly Half Yearly Half Yearly 3rd Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr
Div/Bon/Right PAT (Rs in mn) 135%(D)25%(B) 762.70 -67.42 1460.59 117.37 172.99 691.51 75.38 9.81 -12.51 -27.09
EPS(Rs) 27.94 -8.71 4.52 0.58 30.62 14.12 0.63 0.10 -0.56 -0.84
slashed to restrict the increase in end product prices surfaced, he added. Following the surprising decision of the central bank over the weekend, market started the day on a positive note with 34 plus points. Bullish activities then gathered momentum and within first hour of the session the index touched its highest level of the day of 12,613 points (+ve 150 points). Positive activities, however, managed to get along during the major part of the day but heavy selling pressure particu-
Pacra upholds AIC rating
larly in refinery, oil, and banking sectors during the last hour of the session wiped off all the gains. Therefore, just near the closing bells index touched the lowest level of the day 12,274 points (-ve 188 points) however some adjustment towards the end allowed the index to close above 12,300 level. The international stock markets ended lower mainly due to unrest in Egypt which prompted investors to pull back from riskier assets due to fears that this contagion of revolt would spread to the rest of Middle East.
1H LUCK net falls 23.4pc YoY
Shabbir Kazmi
Ghulam Raza Rajani
KARACHI: The Pakistan Credit Rating Agency (PACRA) has maintained the Insurer Financial Strength (IFS) rating of Adamjee Insurance Company (AIC) at "AA" (Double A). The rating denotes a very strong capacity to meet policyholder and contract obligations, and risk factors are considered modest. The rating reflects AIC's ability to sustain its leading position in the insurance sector despite intense competition and subdued economic environment. However, the company's underwriting margins remain thin. The management, while identifying new growth avenues, is rationalising its cost structure to improve core performance. The rating incorporates the company's strong risk absorption capacity emanating from robust financial profile and ample liquidity.
KARACHI: Lucky Cement Limited (LUCK) Monday posted net earnings of Rs1.46 billion (EPS: Rs 4.52) for the first half of 2010-11, against Rs1.91 billion (EPS: Rs 5.90) in the same period last year, showing a decrease of 23.4 per cent YOY. According to details net sales of the company fell by marginal 0.7 per cent on account of lower dispatches at Rs12.03 billion as against Rs12.11 billion during 1HFY10. Gross profit declined by 12.3 per cent to Rs3.96 billion versus
Nikkei at 1-month low on Egypt revolt TOKYO: Japan's Nikkei fell 1 per cent to a one-month closing low on Monday, as anti-government riots in Egypt prompted investors to shun riskier assets and after Fujitsu and Konica Minolta slid on profit warnings. The unrest in Egypt put safehaven assets back in favour, with the yen gaining in early Asian trade to hover near fourweek highs versus the greenback, providing additional downward pressure to shares of exporters. But oil-related stocks like Japan's top oil explorer Inpex gained as Brent crude surged to a 28-month peak near $100 a barrel on worries that the unrest in Egypt could spread and disrupt oil shipments through the Suez Canal. The Nikkei has gained some 12 per cent since early November as foreigners piled into lagging Tokyo equities, but market players say the bull-run could be drawing to a close, despite expectations of strong October-December results overall from Japanese corporations. Over the past three sessions foreigners, who account for over 60 per cent of trade on the Tokyo stock market, have placed net sell orders before the market opened. "As you can see in pre-market foreign sell orders over the past few days, there have been changes in foreign sentiment towards Japanese stocks," said Yoshinori Nagano, a senior strategist at Daiwa Asset Management. The benchmark Nikkei lost 1.2 per cent or 122.42 points to 10,237.92. It hit its lowest level since Dec. 3 at one point but recouped some losses on bargain-hunting, with generally upbeat earnings by small-cap firms helping to limit losses. See # 17 Page 11
Investor participation witnessed some improvement as 121.3 million shares traded during the day which is 33.4 million shares more as compared to a turnover of 87.9 million shares on Friday. Lotte Pakistan stood as the volume leader with 11.47 million shares followed by Nishat Chunian with 8 million shares and Pakistan Telecommunication with 7.4 million shares. Out of total 395 active issues 237 declined, 143 advanced, while 15 issues saw no change.
Rs4.52 billion due to lower volumetric sales and higher coal prices. Administrative expenses remained stagnant at Rs158 million in 1HFY11. Distribution cost increased by 5.2 per cent to Rs1.82 billion as against Rs1.73 billion recorded in the corresponding period last year. However, other charges went down by 27.5 per cent to Rs119 million versus Rs164 million in 1HFY10. Similarly, finance cost slightly decreased by 1.2 per cent to Rs294 million compared to Rs298 million in 1HFY11.
US stocks mid-day
Wall Street gains on M&As, earnings NEW YORK: US stocks rose on Monday as solid earnings, merger activity and better-thanexpected economic data renewed some of the risk appetite that evaporated last week on uncertainties over stability in the Middle East. Wall Street posted its biggest one-day loss in nearly six months on Friday as anti-government rioting in Egypt sparked a flight to less risky assets. The uprising continued on Monday, but investors seemed to have calmed down. "I think it would take more than protests in Egypt to take this market down. The earnings continue to come in better than expected, but I am looking for a correction," said Jeffrey Saut, chief investment strategist at Raymond James in St. Petersburg, Florida. The Dow Jones industrial average was up 33.15 points, or 0.28 per cent, at 11,856.85. The Standard & Poor's 500 Index was up 6.95 points, or 0.54 per cent, at 1,283.29. The Nasdaq Composite Index was up 7.17 points, or 0.27 per cent, at 2,694.06. Stocks held gains even after See # 15 Page 11
Egypt unrest frets FTSE, but oils calm LONDON: Worries over the impact of the political unrest in Egypt saw the top share index fall on Monday, but losses were limited by gains from heavyweight energy issues as the crude price firmed. At the close, the FTSE 100 index was 18.43 points, or 0.3 per cent lower, at 5,862.94, having shed 1.4 per cent on Friday when worries over the situation in Egypt intensified. Protesters further stepped up their campaign on Monday to force Egypt's President Hosni Mubarak to quit as world leaders struggled to find a solution to a crisis that has set a fire under the Middle East's political map. Travel firms were big fallers,
with traders citing worries over the disruption caused by the protests in Egypt and the impact of a strong crude price. Tour operator TUI Travel shed 2.6 per cent, with mid cap peer Thomas Cook down 3.1 per cent, and International Consolidated Airlines Group losing 1.8 per cent. Risk-sensitive banks were a drag on the blue chips as investors remained nervous about the global picture, with RBS But gains by energy issues limited the FTSE 100's losses, as crude held around $90 a barrel on fears the unrest could spread across a region that produces over a third of the world's oil. "Despite the worry over Egypt the sell off was not as much as it
could have been and the FTSE did well to recover from its lows," said Angus Campbell, head of sales at Capital Spreads. "The uptrend for equity markets remains intact and if we see a swift solution to the problems then we could easily look back on the recent retracement as yet another buying opportunity." BG BOOST BG Group was the top blue chip gainer, adding 5 per cent, rallying after sharp falls on Friday as it said it has suspended drilling in Egypt but gas production remained normal. Traders highlighted the greater impact of BG's recent new oil discovery in the Santos Basin, offshore Brazil.-Reuters
Dhiyan
GAIN-GETTING COULD GET GOING Zafar Moti, Director Karachi Stock Exchange Launch of margin trading system (MTS) can boost market sentiments and take the index above 13,000 points level otherwise the market would continue to witness rangebound activities in the coming days. Investors are advised to adopt 'buy on dips' and 'sell on strength' strategy and invest in energy and banking stocks. Along with the launch of MTS, fresh buying by the foreigners and better than expected corporate results would also trigger the market. Market is likely to be positive today.
Zia Shaafi, Senior Equity Dealer Pearl Securities The outlook of the market is bearish in the short-term and index can fall down to 11,500 points levels. Therefore investors are recommended to adopt 'sell on strength' stance and avoid new investments. The only thing that can trigger the market would be the launch of MTS. Market would open positive today which would be an opportunity for the investors to book gains as selling would once again arrive at higher levels.
6
Tuesday, February 1, 2011
Market
KSE 100 Index
Symbols
Volume
121,348,547
Value
7,459,147,010
Trades
71,785
Advanced Declined Unchanged Total
Current High Low Change
143 237 15 395
All Share Index
12,359.36 12,613.54 12,267.89 i103.34
Current High Low Change
8,569.04 8,739.80 8,510.87 i70.49
OIL AND GAS
Company
Paid up Cap(mn)
PE
Attock Petroleum 691 6.94 Attock Refinery 853 5.39 BYCO Petroleum 3921 Mari Gas Company 735 17.62 National Refinery 800 6.43 Oil & Gas Development 43009 11.63 Pak Petroleum 11950 7.64 Pak Oilfields 2365 7.48 Pak Refinery Limited 350 P.S.O 1715 5.06 Shell Gas LPG 226 Shell Pakistan 685 10.82
Open 391.12 139.36 10.77 130.72 326.34 173.06 210.78 328.91 113.18 304.44 32.15 210.17
High 396.85 143.58 11.05 133.98 335.00 175.80 216.00 337.33 113.90 308.00 32.50 216.00
High Low 1,625.52 1,552.77 Total cos Defaulter cos P/BV (x) ROE (%) 3.68 32.54 Low 381.00 132.40 10.48 129.50 310.03 168.01 207.00 321.50 107.53 296.50 32.00 210.00
Close Chg 384.13 -6.99 132.40 -6.96 10.53 -0.24 130.00 -0.72 310.03 -16.31 171.94 -1.12 208.82 -1.96 324.77 -4.14 107.53 -5.65 299.03 -5.41 32.17 0.02 210.91 0.74
Current High Low Change
KMI 30 Index Current High Low Change
12,009.79 12,324.24 11,920.13 i142.42
20,003.28 20,498.04 19,879.70 i220.01
Last 60 days High Low
Volume 146466 3775851 916761 92263 377200 1811682 1481097 3516069 57623 1187049 5840 94713
401.00 146.90 12.49 141.65 335.00 185.00 229.80 341.50 122.22 317.79 39.89 222.00
292.01 100.35 10.48 117.00 218.00 153.25 184.00 239.00 74.51 262.70 32.00 182.15
% Change -1.16 5-Day High 1,607.87 5-Day Low 1,575.91
2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
2011 Div BR (%) (%)
20B115.00 - 15.00 20B 50.00 -100.00 -
-
CHEMICALS
Company
Paid up Cap(mn)
Open 731.85 Turnover 97,098 P/E (x) 5.71 Paid up Cap(mn)
Company Pak Int Cont. Terminal PNSC
1092 1321
PE 7.08 40.39
Open 70.50 37.34
High 72.00 38.00
High Low 746.60 730.39 Total cos Defaulter cos P/BV (x) ROE (%) 1.46 25.53 Low 70.60 36.80
Close Chg 70.78 0.28 37.16 -0.18
Close 733.33 Listed cap 3,242.17 mn Payout (%) 11.08
Volume 62397 34701
Change 1.48 Market cap 12,887.08 mn Div Yield (%) 1.94
Last 60 days High Low 76.65 39.45
68.00 32.36
Open
High
Low
Agritech Limited 3924 8.96 Bawany Air 75 68.17 BOC (Pak) 250 12.90 Clariant Pak 273 6.93 Dawood Hercules 1203 8.46 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Dynea Pak 94 Engro Corporation Ltd 3277 11.69 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji Fertilizer 6785 9.38 Fauji Fert. Bin Qasim 9341 7.74 Ghani Gases Ltd 725 8.75 ICI Pakistan 1388 8.31 Leiner Gelatine 75 Lotte Pakistan 15142 5.64 Mandviwala 74 Nimir Ind Chemical 1106 Shaffi Chemical 120 Sitara Peroxide 551 14.43 Wah-Noble 90 7.26
25.75 8.48 93.12 184.36 204.75 2.77 7.74 2.91 10.99 212.07 13.13 11.82 152.77 41.19 11.50 149.69 11.99 15.53 1.68 1.73 2.39 13.30 38.70
25.67 8.20 97.68 193.57 210.00 2.88 7.90 3.11 11.50 218.55 13.33 12.04 154.90 41.85 11.70 152.25 12.99 15.90 1.55 2.01 2.40 13.50 38.80
24.47 8.12 93.75 186.00 203.00 2.75 7.67 2.85 11.00 211.00 13.00 11.40 151.80 40.90 11.50 146.23 12.99 15.26 1.10 1.70 2.05 13.25 37.61
Close Chg 24.74 8.18 93.91 193.57 204.14 2.82 7.72 2.89 11.00 212.82 13.02 11.49 152.42 41.02 11.55 147.45 12.99 15.34 1.44 1.94 2.40 13.28 37.75
-1.01 -0.30 0.79 9.21 -0.61 0.05 -0.02 -0.02 0.01 0.75 -0.11 -0.33 -0.35 -0.17 0.05 -2.24 1.00 -0.19 -0.24 0.21 0.01 -0.02 -0.95
Close 1,591.17 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 22299 1375 2966 39204 50099 37865 101092 1305554 536 5642435 681508 1118046 1881021 6690389 12801 268809 1328 11474026 3528 1714940 1561 134202 1126
Change -1.08 Market cap 350,230.50 mn Div Yield (%) 5.02
26.73 10.50 103.94 209.98 215.00 3.74 9.25 4.24 13.79 222.80 15.87 12.64 157.90 43.99 13.07 158.49 22.80 16.49 2.50 2.74 3.40 14.69 41.99
20.26 7.16 75.00 149.72 165.73 2.11 5.42 1.47 9.15 174.70 13.00 9.16 106.71 30.80 11.00 123.75 9.99 10.08 1.01 1.36 2.03 12.50 32.00
% Change -0.07 5-Day High 1,608.20 5-Day Low 1,591.17
2010 Div BR (%) (%) 5 15 135 40 15 40 130 52.5 55 5 50
10R 25B 25B -
2011 Div BR (%) (%) -
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,080.42 Turnover 158,550 P/E (x) 5.44 Company
High Low 1,109.02 1,056.81 Total cos Defaulter cos P/BV (x) ROE (%) 0.41 7.47
Close 1,059.18 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 411
6.98
16.49 39.04
16.65 40.48
15.49 39.01
15.53 -0.96 39.10 0.06
151527 7022
Century Paper Security Paper
Change -21.24 Market cap 2,936.68 mn Div Yield (%) 4.65
Last 60 days High Low 19.69 47.70
15.28 38.00
% Change -1.97 5-Day High 1,201.27 5-Day Low 1,059.18
2010 Div BR (%) (%) 50
-
2011 Div BR (%) (%) -
Open 1,292.93 Turnover 153,775 P/E (x) 4.79 Paid up Cap(mn)
High Low 1,308.80 1,278.34 Total cos Defaulter cos P/BV (x) ROE (%) 1.21 25.35
PE
Open
High
Low
Agriautos Ind 144 5.61 Atlas Battery 101 5.92 Atlas Engineering Ltd 247 33.53 Atlas Honda 626 9.31 Baluchistan Wheels Ltd. 133 6.39 Dewan Motors 890 Exide (PAK) 56 4.98 General Tyre 598 20.51 Ghandhara Nissan 450 3.26 Honda Atlas Cars 1428 Indus Motors 786 6.68 Pak Suzuki 823 10.46 Sazgar Engineering 150 4.24
74.14 200.02 37.97 132.75 35.80 2.10 198.99 23.75 4.80 11.68 293.50 66.83 22.99
74.89 205.00 39.86 135.00 37.59 2.19 207.90 24.50 4.89 11.55 295.75 67.40 23.50
74.00 197.00 36.10 131.28 34.01 1.97 200.00 23.71 4.65 11.20 292.00 65.05 22.34
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Siddiqsons Tin
PE
565 3.08 675 555 9.25 1199 18.81 785 10.36
Open 30.59 2.60 14.65 51.15 9.35
High 31.00 2.62 15.00 52.00 9.39
Low 29.10 2.55 14.75 50.90 9.12
Close Chg 29.49 2.58 14.80 51.73 9.12
-1.10 -0.02 0.15 0.58 -0.23
Close 1,040.56 Listed cap 3,596.11 mn Payout (%) 30.91
Change -8.38 Market cap 10,034.65 mn Div Yield (%) 8.78
Last 60 days High Low
Volume 993203 11401 24618 66162 653
31.00 3.29 16.51 62.20 10.70
24.00 2.50 13.30 44.00 8.51
2010 Div BR (%) (%) 30 55 7.5
2011 Div BR (%) (%)
- 10.00 20B -
Company
Paid up Cap(mn)
Adam Sugar XD 58 AL-Noor Sugar XD 186 Ansari Sugar 244 Chashma Sugar XD 287 Colony Sugar Mills 990 Dewan Sugar 365 Fecto Sugar 146 Habib SugarXDXB 750 Habib-ADM Ltd 200 J D W SugarXDXB 539 Mirza Sugar XD 141 Mitchell's Fruit XD 50 National Foods 414 Nestle Pakistan 453 Noon Pakistan 48 Noon Sugar 165 Pangrio Sugar XD 109 Premier Sugar XD 38 Quice Food 107 S S Oil 57 Sakrand Sugar 223 Shahmurad Sugar XD 211 Tandlianwala 1177
PE
Close Chg
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Bestway Cement Buxly Paints Cherat Cement Dadabhoy Cement Dandot Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Fecto Cement Flying Cement Ltd Frontier Ceramics Gammon Pak Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Maple Leaf(Pref) Pioneer Cement Shabbir Tiles
PE
Open
High
Low
1828 866 6.83 858 182 3257 14 956 23.36 982 12.62 948 3891 3651 123.13 350 3.43 6933 14.73 502 3.79 1760 77 283 2319 32 1288 13126 3234 6.50 5261 1.22 541 3.24 2228 361 -
3.09 55.04 2.70 21.03 14.00 12.00 11.00 1.70 1.66 2.15 29.73 2.98 4.90 7.00 1.71 1.73 2.25 6.50 0.60 6.35 3.31 73.76 2.72 4.33 6.70 8.23
3.24 55.80 2.87 21.74 13.45 12.00 10.80 1.93 2.49 2.18 30.25 2.94 5.00 8.00 1.89 1.88 1.30 6.98 0.70 6.40 3.39 75.25 2.74 4.40 6.90 8.76
2.95 52.70 2.32 20.50 13.04 11.00 10.25 1.58 1.90 2.01 29.31 2.47 4.82 7.20 1.70 1.41 1.29 6.15 0.52 6.26 3.21 71.00 2.60 4.40 6.70 7.37
Close 956.04 Listed cap 54,792.74 mn Payout (%) 19.04
Change -14.44 Market cap 67,162.13 mn Div Yield (%) 2.72
Close Chg
Volume
Last 60 days High Low
3.00 53.96 2.51 20.82 13.10 11.89 10.28 1.64 1.91 2.05 29.55 2.88 4.86 7.27 1.75 1.43 1.29 6.98 0.68 6.31 3.23 72.34 2.63 4.40 6.72 8.68
23008 64275 514 9937 7514 253 18751 20001 581 101968 1948886 510 305263 4629 24532 3522 420 497 1607 4194 1903198 2111186 213937 235 31465 104
3.98 65.99 4.24 24.16 24.80 15.50 12.75 2.49 3.49 3.10 32.30 4.00 5.55 8.20 2.25 4.00 2.98 9.19 0.99 8.70 3.88 79.98 3.30 8.89 8.20 9.60
-0.09 -1.08 -0.19 -0.21 -0.90 -0.11 -0.72 -0.06 0.25 -0.10 -0.18 -0.10 -0.04 0.27 0.04 -0.30 -0.96 0.48 0.08 -0.04 -0.08 -1.42 -0.09 0.07 0.02 0.45
2.80 52.70 1.10 15.00 13.04 7.91 10.25 1.50 1.50 1.44 26.60 2.21 4.72 5.80 1.60 1.18 1.05 2.70 0.25 6.10 2.90 70.75 2.60 3.21 6.52 6.30
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 -
2011 Div BR (%) (%) -
-
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 1,057.41 Turnover 440,256 P/E (x) 2.90 Company
Paid up Cap(mn)
Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Tri-Pack Films
PE
Open
115 2.61 72.04 230 2.66 1067 4.90 53.75 389 3.00 47 77.25 31.58 844 68.22 137.43 300 10.15 134.57
High
High Low 1,069.21 1,033.21 Total cos Defaulter cos P/BV (x) ROE (%) 1.27 43.91 Low
Close Chg
75.40 72.12 73.37 2.85 2.60 2.84 54.00 53.26 53.26 3.60 2.75 3.33 32.45 30.26 30.90 139.90 132.51 133.03 141.29 136.40 139.17
1.33 0.18 -0.49 0.33 -0.68 -4.40 4.60
Close 1,040.85 Listed cap 3,043.31 mn Payout (%) 15.55
Volume 86651 94950 1591 26523 64891 113871 51729
Change -16.56 Market cap 38,999.31 mn Div Yield (%) 5.37
Last 60 days High Low 83.23 3.30 56.45 4.05 32.45 143.00 141.90
46.02 1.82 45.30 2.40 16.90 103.52 102.00
2010 Div BR (%) (%) 20 25 -
25B 10B -
% Change -1.57 5-Day High 1,060.56 5-Day Low 1,040.85 2011 Div BR (%) (%) -
-
Company
Close 1,285.43 Listed cap 6,768.53 mn Payout (%) 20.42
Company
Paid up Cap(mn)
AL-Ghazi Tractor Bolan Casting Dewan Auto Engineering Ghandhara Ind Hinopak Motor Millat Tractors XB Pak Engineering
PE
Open
High
Low
215 5.63 104 214 213 10.44 124 366 8.34 57 416.67
235.07 43.75 1.30 11.51 131.00 544.87 155.41
237.00 43.80 1.35 12.00 129.00 547.00 152.98
232.05 43.00 1.34 11.15 125.00 540.00 150.00
Close Chg
Volume
Change -7.50 Market cap 47,330.42 mn Div Yield (%) 4.27
Last 60 days High Low
235.24 43.54 1.34 11.27 129.00 541.84 150.00
0.17 -0.21 0.04 -0.24 -2.00 -3.03 -5.41
8968 1399 3596 40901 501 34088 365
82.63 205.00 39.86 143.80 37.59 2.89 217.44 26.74 5.67 13.40 309.73 77.90 23.50
65.75 152.70 15.00 96.00 30.11 1.20 145.00 21.00 4.42 10.90 230.00 65.05 17.92
90 100 25 60 20 150 10
2011 Div BR (%) (%)
20B 20B
-
-
High
High Low 1,900.80 1,826.38 Total cos Defaulter cos P/BV (x) ROE (%) 14.22 30.30 Low
Close Chg
Close 1,856.14 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
Change 15.49 Market cap 275,223.04 mn Div Yield (%) 0.65
Last 60 days High Low
377 20.50 13.00 10401 54.00 42.00 1500 6.99 4.05 10752 15.47 9.00 1501 5.70 2.60 5839 5.59 1.50 5168 55.00 28.00 74996 36.50 21.80 25502 13.00 11.50 31068 92.50 68.00 1005 7.18 4.10 398 89.90 62.50 1762 75.50 41.12 219 3458.43 1830.00 731 27.30 17.51 17123 14.84 9.00 154 6.99 4.04 1009 53.81 34.29 3500 3.50 2.02 6000 3.89 2.80 500 3.90 2.11 3304 13.50 9.00 4169 42.52 29.03
2010 Div BR (%) (%)
% Change 0.84 5-Day High 1,856.14 5-Day Low 1,801.09 2011 Div BR (%) (%)
25 50 10 25 25B 40 7010B 12.5R 10 40 12 450 12 10 10 10 -
-
-
High Low 1,124.38 1,108.33 Total cos Defaulter cos P/BV (x) ROE (%) 0.26 10.64
Close 1,109.06 Listed cap 3,763.71 mn Payout (%) 6.27
PE
Open
High
Low
Close Chg
Volume
106 1219 231
3.59 2.67
6.32 14.26 21.27
6.25 14.60 22.33
6.00 14.25 22.33
6.25 -0.07 14.25 -0.01 22.33 1.06
503 100859 55750
Hussain Industries Pak Elektron Tariq Glass Ind
Change 12.34 Market cap 5,234.16 mn Div Yield (%) 2.58
201.80 42.90 0.21 10.55 117.80 472.00 142.50
2010 Div BR (%) (%)
Last 60 days High Low
2010 Div BR (%) (%)
11.49 15.88 22.50
17.5
5.20 12.90 15.90
10B -
2011 Div BR (%) (%) -
-
PERSONAL GOODS Performance of SR Personal Goods Index Open 1,002.13 Turnover 18,615,922 P/E (x) 7.46 Company
Paid up Cap(mn)
(Colony) Thal Amtex Limited Apollo Textile XD Artistic Denim Asim Textile Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Bilal Fibres Brothers Textile Chenab Limited Colgate Palm Colony Mills Ltd Crescent Jute D S Ind Ltd Dar-es-Salaam Dawood Lawrencepur Dewan Mushtaq Textile Din Textile Fazal Textile Gadoon Textile XD Ghazi Fabrics H M Ismail Hira Textile Mills Ltd. Ibrahim Fibres Ideal Spinning Idrees Textile Ishaq Textile Janana D Mal Kohinoor Ind Kohinoor Mills Kohinoor Textile Liberty Mills Mian Textile Nishat (Chunian) Nishat Mills Pak Synthetic Ravi Textile Reliance Weaving Saif Textile Salfi Textile Sally Textile Salman Noman Samin Textile Sana Ind Sargodha Spinning Service Ind Shadman Cot Tata Textile Thal Limited Treet Corp Zephyr Textile Ltd Zil Limited
56 2594 83 840 152 4493 33 76 76 141 98 1150 316 2442 238 600 80 514 34 204 62 234 326 120 716 3105 99 180 97 43 303 509 1455 226 221 1614 3516 560 250 308 264 33 88 42 267 55 312 120 176 173 307 418 594 53
High Low 1,010.85 991.55 Total cos Defaulter cos P/BV (x) ROE (%) 0.64 8.64
PE
Open
High
Low
9.20 6.17 0.40 0.46 0.51 5.19 0.40 31.03 3.64 45.76 0.16 0.58 3.46 0.76 0.64 0.73 4.14 0.82 3.80 1.35 0.24 3.58 3.81 2.00 5.69 4.39 0.62 0.45 0.28 0.22 2.03 4.95 3.24 0.68 7.81 2.46 0.36 5.26 9.39 4.49 3.68
1.37 4.15 6.50 22.75 2.50 11.65 11.90 14.30 630.82 1.63 0.41 3.08 977.47 2.57 1.16 1.75 3.23 39.34 5.86 26.08 421.08 71.20 3.51 0.92 3.89 51.14 8.62 3.70 8.24 14.45 1.50 3.10 5.25 69.50 0.50 23.55 67.05 12.50 1.39 9.01 5.39 64.28 4.30 4.90 6.40 42.00 3.50 230.09 14.41 36.25 125.61 58.47 3.50 53.91
1.40 4.20 5.50 22.99 1.50 11.95 11.99 15.10 638.90 1.49 0.45 3.10 976.00 2.64 1.22 1.85 3.54 40.00 6.15 27.00 442.13 73.00 4.50 0.50 4.00 53.00 9.62 3.50 8.70 14.75 1.60 3.09 5.29 72.95 0.70 24.72 68.30 13.35 1.58 9.10 5.87 61.07 4.35 4.80 6.30 43.50 4.25 236.42 15.25 38.06 127.99 61.35 3.51 56.60
1.40 4.05 5.50 22.20 1.50 11.20 11.01 14.01 620.00 1.25 0.44 2.96 939.00 2.11 1.00 1.63 2.31 38.25 5.08 27.00 416.05 69.50 3.01 0.50 3.85 51.20 8.10 3.50 7.50 14.06 1.50 2.15 5.00 72.50 0.36 23.71 66.00 12.51 1.32 8.90 5.00 61.07 4.01 4.00 5.90 42.60 3.50 225.00 13.50 36.80 123.00 58.60 3.41 53.90
150 25 650 100
Open 920.74 Turnover 31,905 P/E (x) 6.84
% Change -0.66 5-Day High 1,585.78 5-Day Low 1,565.62 2011 Div BR (%) (%)
10B 25B325.00 -
-
MA (10-day)
8.46
Total Equity (Rs in mn)
MA (100-day)
4.80
Revenue (Rs in mn)
MA (200-day)
3.99
Interest Expense
1st Support
8.58
Profit after Taxation
77.95
2nd Support
7.58
EPS 10 (Rs)
7.857
779.86
10.74
106.55 1,475.99 60.73
1st Resistance
10.10
Book value / share (Rs)
2nd Resistance
10.62
PE 11 E (x)
0.82
PBV (x)
0.89
Pivot
9.10
IDSM closed up 0.98 at 9.60. Volume was 1,076 per cent above average (trending) and Bollinger Bands were 59 per cent wider than normal. The company's profit after taxation stood at Rs29.202 million which translates into an Earning Per Share of Rs2.94 for the 1st quarter of current fiscal year (1QFY11). IDSM is currently 167.6 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into IDSM (bullish). Trend forecasting oscillators are currently bullish on IDSM.
Crescent Steel & Allied Products Ltd
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
59.85
Total Assets (Rs in mn)
MA (10-day)
29.00
Total Equity (Rs in mn)
2,622.61
MA (100-day)
25.77
Revenue (Rs in mn)
3,704.39
MA (200-day)
26.46
Interest Expense
121.91
1st Support
28.70
Profit after Taxation
416.55
2nd Support
27.95
EPS 10 (Rs)
7.378
1st Resistance
30.60
Book value / share (Rs)
46.45
2nd Resistance
31.75
PE 11 E (x)
4.61
Pivot
29.85
PBV (x)
4,436.30
0.63
CSAP closed down -1.10 at 29.49. Volume was 1,141 per cent above average (trending) and Bollinger Bands were 117 per cent wider than normal. The company's profit after taxation stood at Rs90.081 million which translates into an Earning Per Share of Rs1.60 for the 1st quarter of current fiscal year (1QFY11). CSAP is currently 11.4 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into CSAP (mildly bullish). Trend forecasting oscillators are currently bullish on CSAP.
Nishat (Chunian) Limited
% Change 1.12 5-Day High 1,109.06 5-Day Low 1,087.88
Close Chg 1.40 4.05 5.50 22.22 1.50 11.28 11.19 14.50 625.58 1.49 0.45 2.99 975.43 2.33 1.00 1.65 2.36 38.90 5.08 27.00 433.86 70.03 3.93 0.50 3.88 52.66 9.60 3.50 7.52 14.75 1.54 2.70 5.01 72.50 0.65 24.14 66.24 12.99 1.36 8.90 5.60 61.07 4.35 4.80 5.94 42.61 3.51 228.18 13.50 36.81 123.09 59.00 3.41 55.00
0.03 -0.10 -1.00 -0.53 -1.00 -0.37 -0.71 0.20 -5.24 -0.14 0.04 -0.09 -2.04 -0.24 -0.16 -0.10 -0.87 -0.44 -0.78 0.92 12.78 -1.17 0.42 -0.42 -0.01 1.52 0.98 -0.20 -0.72 0.30 0.04 -0.40 -0.24 3.00 0.15 0.59 -0.81 0.49 -0.03 -0.11 0.21 -3.21 0.05 -0.10 -0.46 0.61 0.01 -1.91 -0.91 0.56 -2.52 0.53 -0.09 1.09
Close 997.92 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change -4.21 Market cap 140,360.29 mn Div Yield (%) 2.24
Last 60 days High Low
2000 1.65 54096 5.80 500 6.50 8800 24.59 1000 2.50 5258293 12.84 14400 17.85 53304 15.10 414 747.48 3600 2.80 7111 1.49 9304 3.90 111 1020.00 11397 2.99 15012 1.38 27232 2.37 3003 4.38 39356 47.00 9217 8.90 2500 27.50 193 490.05 26796 73.09 700 5.05 3000 1.39 24511 4.47 15952 53.00 615066 9.62 2000 3.90 1307 8.70 4964 19.24 25778 2.00 2012 3.80 1005 5.97 410 72.95 101 0.75 8001505 25.14 3406472 71.89 508812 13.35 27548 1.98 3400 10.48 30433 6.85 202 69.19 5101 5.00 1100 6.35 8030 6.95 1374 49.66 5103 4.25 6888 276.50 1230 15.25 326 39.00 9109 132.00 338882 63.30 500 4.65 15140 59.25
2010 Div BR (%) (%)
0.56 4.00 30 4.50 19.10 20 1.50 9.20 8.10 - 15B 11.50 20 555.01 1.00 0.15 2.90 791.05 2.11 0.32 1.62 1.70 36.10 5 2.90 24.02 20 10B 371.02 100 44.05 70 2.70 10 0.39 3.31 10 36.00 20 3.00 2.70 10 4.99 8 13.25 1.10 1.52 4.82 55.50 30 0.32 20.25 15 50.25 25 45R 6.00 1.26 8.50 25SD 3.90 31.00 25 3.57 10 2.01 5B 5.11 - 100R 30.50 60 1.51 5 169.00 7.00 20.85 25 91.25 80 20B 44.45 3.01 42.30 35 -
% Change -0.42 5-Day High 1,006.23 5-Day Low 997.92 2011 Div BR (%) (%) -
-
Performance of SR Pharma and Bio Tech Index
Change -10.48 Market cap 34,097.81 mn Div Yield (%) 15.41
Last 60 days High Low 244.95 47.50 2.40 13.50 147.89 568.40 310.00
222 14813 13905 596 127 58941 972 5307 5005 17350 14680 14328 7527
2010 Div BR (%) (%)
% Change -0.58 5-Day High 1,298.38 5-Day Low 1,285.43
PHARMA AND BIO TECH
Close 1,575.30 Listed cap 1,336.62 mn Payout (%) 131.49
Volume
-0.10 -1.89 -0.42 1.33 -1.79 -0.10 4.31 0.04 -0.10 -0.41 -1.06 -1.14 -0.27
Paid up Cap(mn)
INDUSTRIAL ENGINEERING High Low 1,590.87 1,568.79 Total cos Defaulter cos P/BV (x) ROE (%) 3.24 38.02
-
Total Assets (Rs in mn)
HOUSEHOLD GOODS
Performance of SR Industrial Engineering Index Open 1,585.78 Turnover 89,918 P/E (x) 8.53
Open
Open 1,096.73 Turnover 157,120 P/E (x) 2.43
-
% Change -1.49 5-Day High 975.49 5-Day Low 956.04
-
66.08
Performance of SR Household Goods Index
Performance of SR Construction and Materials Index High Low 988.27 941.88 Total cos Defaulter cos P/BV (x) ROE (%) 0.50 7.10
74.04 198.13 37.55 134.08 34.01 2.00 203.30 23.79 4.70 11.27 292.44 65.69 22.72
4.76 16.00 16.50 15.90 15.99 -0.01 1.22 51.15 50.50 48.60 48.73 -2.42 0.24 5.00 5.00 5.00 5.00 0.00 3.81 9.30 10.10 9.75 9.75 0.45 7.85 3.40 3.74 3.12 3.14 -0.26 3.34 3.75 3.16 3.23 -0.11 - 32.23 33.84 33.80 33.84 1.61 8.73 22.70 22.50 21.80 22.01 -0.69 11.50 12.00 12.50 11.90 12.42 0.42 1.27 69.00 72.40 69.20 71.58 2.58 4.26 4.79 4.50 4.78 0.52 9.69 83.00 85.70 81.00 82.60 -0.40 21.21 56.76 56.95 54.11 56.85 0.09 37.40 3293.75 3458.43 3310.00 3404.64 110.89 3.39 25.00 24.20 23.75 23.75 -1.25 1.11 10.39 11.25 10.20 10.39 0.00 5.00 4.50 4.50 4.50 -0.50 - 42.99 41.12 40.85 40.85 -2.14 7.27 3.17 3.20 3.20 3.20 0.03 0.26 2.80 3.00 3.00 3.00 0.20 2.31 2.70 2.70 2.70 0.39 3.42 9.67 10.05 9.25 10.00 0.33 368.45 39.04 40.99 39.30 40.53 1.49
CONSTRUCTION AND MATERIALS Open 970.47 Turnover 6,801,037 P/E (x) 6.99
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
FOOD PRODUCERS Open 1,840.66 Turnover 209,307 P/E (x) 46.93
-
% Change -0.80 5-Day High 1,048.95 5-Day Low 1,024.32
40 15
2011 Div BR (%) (%)
Performance of SR Food Producers Index
Performance of SR Industrial Metals and Mining Index High Low 1,063.37 1,027.19 Total cos Defaulter cos P/BV (x) ROE (%) 1.17 33.10
2010 Div BR (%) (%)
Performance of SR Automobile and Parts Index
INDUSTRIAL METALS AND MINING Open 1,048.95 Turnover 1,096,049 P/E (x) 3.52
% Change 0.20 5-Day High 747.49 5-Day Low 731.85
AUTOMOBILE AND PARTS
Company
High Low 1,614.52 1,584.82 Total cos Defaulter cos P/BV (x) ROE (%) 3.41 35.00
PE
Ideal Spinning Mills Limited
Performance of SR Industrial Transportation Index
Close Change 1,575.91 -18.48 Listed cap Market cap 65,194.15 mn 1,212,405.91 mn Payout (%) Div Yield (%) 55.94 4.95
Performance of SR Chemicals Index Open 1,592.25 Turnover 28,149,998 P/E (x) 9.73
Alert ! Unusual Movements
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index Open 1,594.40 Turnover 12,545,853 P/E (x) 11.31
KSE 30 Index
Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Sanofi-Aventis Searle Pak
Paid up Cap(mn) 979 250 1707 165 200 96 306
PE
Open
8.44 94.07 6.65 89.26 14.24 79.02 7.76 27.98 7.62 9.40 12.37 155.02 5.52 62.29
High
High Low 933.65 916.12 Total cos Defaulter cos P/BV (x) ROE (%) 1.53 22.31 Low
Close Chg
96.79 94.50 96.28 2.21 90.50 87.00 88.00 -1.26 79.61 78.81 79.15 0.13 28.40 28.00 28.01 0.03 9.64 9.10 9.45 0.05 160.00 155.00 155.54 0.52 63.00 61.25 61.41 -0.88
Close 923.38 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 3770 1814 5797 8701 312 2810 8601
Change 2.63 Market cap 30,968.77 mn Div Yield (%) 6.51
Last 60 days High Low 112.50 94.90 89.98 30.48 9.88 164.99 69.00
94.00 82.20 69.52 23.50 7.16 116.00 59.00
2010 Div BR (%) (%) 20 30
20B -
% Change 0.29 5-Day High 942.71 5-Day Low 920.74 2011 Div BR (%) (%) -
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
59.29
Total Assets (Rs in mn)
MA (10-day)
23.45
Total Equity (Rs in mn)
31,376.31
MA (100-day)
20.95
Revenue (Rs in mn)
31,535.65
MA (200-day)
19.39
Interest Expense
46,182.31
1,126.92
1st Support
23.68
Profit after Taxation
2,915.46
2nd Support
23.19
EPS 10 (Rs)
8.292
1st Resistance
24.69
Book value / share (Rs)
89.24
2nd Resistance
25.21
PE 11 E (x)
2.00
Pivot
24.20
PBV (x)
0.27
NCL closed up 0.59 at 24.14. Volume was 219 per cent above average (trending) and Bollinger Bands were 58 per cent narrower than normal. The company's profit after taxation stood at Rs477.454 million which translates into an Earning Per Share of Rs3.01 for the 1st quarter of current fiscal year (1QFY11). NCL is currently 24.5 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NCL (mildly bullish). Trend forecasting oscillators are currently bullish on NCL.
JS Bank Limited
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
36.08
Total Assets (Rs in mn)
MA (10-day)
2.45
Total Equity (Rs in mn)
5,654.56
MA (100-day)
2.52
Revenue (Rs in mn)
32,894.92 2,527.30
MA (200-day)
2.72
Interest Expense
1,806.71
1st Support
2.30
Loss after Taxation
(594.94)
2nd Support
2.25
EPS 09 (Rs)
1st Resistance
2.40
Book value / share (Rs)
2nd Resistance
2.45
PE 10 E (x)
Pivot
2.35
PBV (x)
(0.98) 9.23 0.25
JSBL closed down -0.05 at 2.32. Volume was 108 per cent above average and Bollinger Bands were 30 per cent narrower than normal. The company's loss after taxation stood at Rs404.872 million which translates into a Loss Per Share of Rs0.66 for the nine months of current calendar year (9MCY10). JSBL is currently 14.7 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume out of JSBL (bearish). Trend forecasting oscillators are currently bearish on JSBL.
BOOK CLOSURES Company
From
To
Arif Habib Investments # Summit Bank Quice Food Ind. Mubarak Tex Mills # Husein Industries First Cap Mutual Fund # Shaheen Insurance Redeo Textiles # United Distributors # (TFC) Saudi Pak Leasing (FTC) Allied Bank Int Ind (Consolidated) Millat Tractors Ideal Energy # Olympia Spng. Weaving Mills # Shadman Cotton Mills Mehran Sugar Mills Int Industries # Fauji Fertilizer Pakistan Petroleum Pakistan Petroleum (Pref)
01-Feb 01-Feb 01-Feb 05-Feb 06-Feb 07-Feb 07-Feb 07-Feb 08-Feb 10-Feb 14-Feb 16-Feb 18-Feb 18-Feb 18-Feb 19-Feb 21-Feb 23-Feb 03-Mar 03-Mar
07-Feb 08-Feb 07-Feb 12-Feb 12-Feb 14-Feb 14-Feb 14-Feb 14-Feb 27-Feb 24-Feb 24-Feb 26-Feb 26-Feb 26-Feb 28-Feb 01-Mar 09-Mar 09-Mar
D/B/R 20(R) 25 (R) 15 (I) 325 (I) 5 7.5(I) 50 (I) 30 (I)
Spot AGM/Date 24-Jan -
07-Feb 07-Feb 09-Feb 10-Feb 14-Feb 15-Feb 14-Feb 26-Feb 26-Feb 26-Feb 24-Feb 01-Mar -
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shezan International Lakson Tobacco Shifa Int.Hospitals Eye Television Media Times LtdXR P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies
Open 54.01 3.22 95.99 175.46 277.01 31.01 20.16 18.71 2.33 45.38 3.25 25.7
High 54.01 3.36 97.99 184.23 280 31.99 20.94 17.71 2.45 45.74 3.33 26.85
Low Close 54 3.16 92.5 170 263.16 31.01 19.51 17.71 2.35 44.44 2.95 25.65
54 3.2 93.1 175.98 263.16 31.01 20.24 17.71 2.45 44.51 3.01 25.82
Change -0.01 -0.02 -2.89 0.52 -13.85 0 0.08 -1 0.12 -0.87 -0.24 0.12
Vol 3486 1113151 18686 20178 4390 5012 19596 2452 675708 1005 1114064 2499285
7
Tuesday, February 1, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,131.76 Turnover 8,688,848 P/E (x) 5.87 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,159.15 1,076.91 Total cos Defaulter cos P/BV (x) ROE (%) 0.75 12.84
PE
Open
High
Low
Close Chg
78 4.82 37740 12.39 3000 0.63 8606 6175 -
79.90 19.19 2.15 2.72 3.93
79.89 19.60 2.22 2.90 3.99
78.14 18.19 2.08 2.68 3.70
78.16 18.59 2.11 2.72 3.73
Close 1,099.34 Listed cap 50,077.79 mn Payout (%) 62.56
Volume
-1.74 -0.60 -0.04 0.00 -0.20
301 7403137 196392 1089018 112952
Change -32.42 Market cap 76,048.43 mn Div Yield (%) 10.66
% Change -2.86 5-Day High 1,146.32 5-Day Low 1,099.34
Last 60 days High Low
2010 Div BR (%) (%)
90.10 20.65 2.67 3.45 4.65
80 17.5 1 -
76.50 18.19 2.08 2.40 3.35
2011 Div BR (%) (%)
-
-
Ask Gen Insurance Atlas Insurance Central Insurance XB Century Insurance EFU General Insurance IGI Insurance New Jub Insurance Pak Reinsurance Premier Insurance Reliance Insurance XB Silver Star Insurance Universal Insurance
204 6.31 369 5.86 279 8.04 457 6.44 1250 718 16.79 791 16.01 3000 44.85 303 6.08 252 4.05 253 4.35 263 -
Paid up Cap(mn)
Company
PE
Open
High
Low
Genertech 198 Hub Power 11572 7.10 Japan Power 1560 KESC 7932 Kohinoor Energy 1695 10.61 Kohinoor Power 126 2.79 Kot Addu Power 8803 5.21 Nishat Chunian Power Ltd 3673 3.67 Nishat Power Ltd 3541 28.29 Sitara Energy Ltd 191 3.30 Southern Electric 1367 -
0.85 39.00 1.70 2.73 18.90 4.59 43.02 16.97 17.81 18.10 2.24
0.89 40.20 1.79 2.85 19.10 4.70 43.49 17.25 18.09 17.67 2.25
0.75 38.30 1.60 2.60 19.10 4.10 42.75 16.70 17.40 17.66 2.16
Close 1,329.83 Listed cap 95,369.29 mn Payout (%) 104.13
Change -10.69 Market cap 108,852.84 mn Div Yield (%) 7.13
Close Chg
Volume
Last 60 days High Low
0.76 38.79 1.62 2.61 19.10 4.57 42.90 16.72 17.54 17.67 2.17
7214 4302873 168655 1162206 3000 7427 407295 1341296 1012870 500 91879
1.18 41.20 2.15 3.55 22.85 5.39 45.85 18.01 18.70 19.35 2.80
-0.09 -0.21 -0.08 -0.12 0.20 -0.02 -0.12 -0.25 -0.27 -0.43 -0.07
0.73 33.15 1.50 2.07 17.95 3.85 39.00 13.01 14.14 17.66 2.09
% Change -0.80 5-Day High 1,354.29 5-Day Low 1,329.83
2010 Div BR (%) (%) 50 15 50 20 -
Open 816.00 Turnover 22,337 P/E (x) 5.68
-
-
GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,587.05 Turnover 199,328 P/E (x) 9.82 Company Sui North Gas Sui South Gas
High Low 1,601.21 1,531.58 Total cos Defaulter cos P/BV (x) ROE (%) 1.12 11.41
Close 1,539.88 Listed cap 12,202.80 mn Payout (%) 66.79
Change -47.17 Market cap 32,987.68 mn Div Yield (%) 6.80
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 8390
7.93 3.30
27.72 22.28
27.80 22.65
26.41 21.85
26.63 -1.09 21.89 -0.39
100912 98416
34.75 25.01
25.71 19.95
% Change -2.97 5-Day High 1,612.21 5-Day Low 1,539.88
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
BANKS Performance of SR Banks Index Open 1,201.36 Turnover 17,168,528 P/E (x) 8.42 Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 6.94 72.26 Askari Bank 6427 8.61 18.46 Bank Alfalah 13492 14.71 11.72 Bank AL-Habib 7322 7.98 37.50 Bank Of Khyber 5004 5.41 4.09 Bank Of Punjab 5288 8.95 BankIslami Pak 5280 980.00 3.86 Faysal Bank 7327 4.83 15.05 Habib Bank Ltd 10019 7.69 123.82 Habib Metropolitan Bank 8732 8.12 26.52 JS Bank Ltd 8150 2.37 KASB Bank Ltd 9509 1.67 MCB Bank Ltd 7602 10.05 233.43 Meezan Bank 6983 9.86 18.53 Mybank Ltd 5304 2.83 National Bank 13455 6.72 77.86 NIB Bank 40437 2.87 Samba Bank 14335 1.76 Silkbank Ltd 26716 2.59 Soneri Bank 6023 7.30 Stand Chart Bank 38716 12.00 7.81 Summit Bank Ltd XR 7251 3.79 United Bank Ltd 12242 7.91 68.80
High Low Close 1,223.61 1,168.76 1,178.26 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.17 13.94 40.49
High
Low
Close Chg
Last 60 days High Low
Volume
73.00 69.25 71.45 -0.81 18.70 18.00 18.09 -0.37 11.99 11.40 11.47 -0.25 37.90 36.51 37.05 -0.45 4.10 3.98 4.06 -0.03 9.17 8.70 8.78 -0.17 4.00 3.90 3.92 0.06 15.45 14.94 14.97 -0.08 126.45 122.00 123.04 -0.78 27.10 26.36 26.55 0.03 2.40 2.30 2.32 -0.05 1.75 1.67 1.71 0.04 237.60 225.00 226.78 -6.65 19.00 18.50 18.64 0.11 2.95 2.76 2.80 -0.03 78.85 76.66 76.97 -0.89 2.99 2.73 2.76 -0.11 2.00 1.75 1.80 0.04 2.64 2.56 2.58 -0.01 7.70 7.05 7.07 -0.23 8.00 7.80 7.80 -0.01 3.98 3.66 3.68 -0.11 69.95 67.00 67.35 -1.45
Change -23.10 Market cap 710,706.18 mn Div Yield (%) 4.81
504954 74.00 568572 19.25 2537580 11.99 598940 39.49 15283 4.70 1725544 10.59 113551 4.50 164735 17.10 502164 128.97 47386 29.28 417145 3.00 275580 2.80 2396614 250.48 40768 20.30 273156 3.40 2476805 80.61 1880942 3.35 250483 2.17 1274529 3.05 159931 8.48 7458 9.04 195030 4.63 936408 70.65
54.96 14.96 9.11 31.50 3.58 8.34 3.00 14.01 100.50 19.70 2.30 1.49 199.00 14.50 1.90 63.53 2.59 1.51 2.50 7.00 6.33 2.70 55.25
% Change -1.92 5-Day High 1,202.81 5-Day Low 1,178.26
2010 Div BR (%) (%) 20 - 20B - 66R 55 -63.46R 10 -
-
-
Performance of SR Non Life Insurance Index
Paid up Cap(mn)
Company Adamjee Insurance
PE
Open
1237 26.91
95.02
High Low 814.39 786.03 Total cos Defaulter cos P/BV (x) ROE (%) 0.67 5.20
High 96.40
Low 92.11
Close Chg 92.85 -2.17
Close 790.99 Listed cap 11,111.34 mn Payout (%) 79.54
Change -12.42 Market cap 48,523.30 mn Div Yield (%) 6.19
Last 60 days High Low
Volume 433231
96.40
68.00
% Change -1.55 5-Day High 814.93 5-Day Low 790.99
2010 Div BR (%) (%) 10
2011 Div BR (%) (%)
-
-
-
10.41 36.85 70.71 10.31 40.00 90.50 59.40 17.49 11.25 6.60 7.00 2.96
-0.78 -0.53 -2.37 -0.05 -0.14 -0.58 -0.08 -0.44 -0.24 0.00 -0.20 0.21
3800 16269 1236 20022 16974 11669 210 343405 4937 2500 1000 2100
12.75 40.00 83.00 12.00 47.90 99.88 61.80 19.40 12.93 7.47 8.20 4.00
10.00 33.00 53.00 9.65 39.48 81.10 53.38 14.00 9.00 6.15 6.01 2.21
10 10 -
25R 10B 20B -
-
UP TO 100 VOLUME
-
Symbols FANM GLPL KSBP MSOT OTSU UDPL ULEVER SITC SANSM DADX SIEM BIFO MODAM MIRKS RMPL SURC FPRM HUSS MSCL NBF ZAHT FNEL JOPP MFTM CPMFI FZCM ISIL KOSM MEHT MOON BFMOD BRR CSMD GATI TOWL AZAMT LEUL SFAT THAS SGML YOUW AGSML CLOV CSIL DATM ESBL GAIL GRAYS KSTM MUKT PPVC RCML SCL SHJS UPFL ALQT DIIL GATM GSPM IDYM ILTM PAKMI PASM PPP PTEC SMCPL TSMF
High Low 829.40 803.44 Total cos Defaulter cos P/BV (x) ROE (%) 3.50 3.85
Close 815.09 Listed cap 2,290.72 mn Payout (%) 355.53
Change -0.91 Market cap 9,562.57 mn Div Yield (%) 3.91
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
500 5.69 850 38.52 627 30.36
17.00 68.05 45.00
17.00 69.00 46.25
17.00 67.00 44.10
17.00 0.00 67.80 -0.25 45.23 0.23
1389 11859 9089
19.85 86.95 49.31
% Change -0.11 5-Day High 833.64 5-Day Low 813.78
2010 Div BR (%) (%)
16.03 62.75 40.00
-
2011 Div BR (%) (%)
-
-
-
FINANCIAL SERVICES Performance of SR Financial Services Index Open 415.21 Turnover 2,859,841 P/E (x) 11.77 Paid up Cap(mn)
Company
AMZ Ventures Arif Habib Investments Arif Habib Limited Arif Habib Corp Dawood Cap Mangt. XB Dawood Equities IGI Investment Bank Invest and Fin Sec Invest Bank Ist Cap Securities Ist Dawood Bank Jah Siddiq Co JOV and CO JS Global Cap JS Investment KASB Securities Orix Leasing Pervez Ahmed Sec Saudi Pak Leasing Trust Brokerage Trust Inv Bank
High Low 427.93 399.64 Total cos Defaulter cos P/BV (x) ROE (%) 0.27 0.91
PE
Open
High
Low
225 1.43 360 3.89 450 13.15 3750 4.81 150 1.12 250 2121 14.81 600 762.00 2849 3166 626 0.59 7633 508 500 7.16 1000 28.00 1000 821 4.68 775 452 100 586 2.72
0.74 20.35 26.03 26.79 1.50 1.90 2.75 7.33 0.68 3.25 1.65 11.73 3.82 26.63 6.76 4.49 6.26 1.91 0.50 3.50 1.62
0.84 20.69 26.60 27.55 1.50 2.27 2.37 7.74 0.80 3.49 1.80 12.05 4.07 27.95 6.97 4.69 6.55 2.04 0.79 3.69 2.00
0.60 19.75 25.50 26.00 1.25 1.91 2.36 7.21 0.56 3.00 1.65 11.28 3.82 26.60 6.70 4.50 6.18 1.85 0.47 3.50 1.56
Close Chg 0.63 19.75 25.77 26.14 1.25 1.91 2.37 7.62 0.56 3.19 1.65 11.38 3.85 26.63 6.72 4.52 6.36 1.90 0.72 3.53 1.74
-0.11 -0.60 -0.26 -0.65 -0.25 0.01 -0.38 0.29 -0.12 -0.06 0.00 -0.35 0.03 0.00 -0.04 0.03 0.10 -0.01 0.22 0.03 0.12
Close 406.09 Listed cap 30,336.44 mn Payout (%) 99.56
Volume 143483 24895 109663 2204441 261 1371 5000 28999 41521 70638 12717 1986942 178605 2555 19237 434 6780 97904 106618 10702 11503
Change -9.12 Market cap 18,839.64 mn Div Yield (%) 3.37
% Change -2.20 5-Day High 423.63 5-Day Low 406.09
Last 60 days High Low
2010 Div BR (%) (%)
0.95 22.40 28.00 30.20 2.14 2.75 3.90 8.98 1.09 3.99 2.14 14.05 5.38 32.37 7.59 5.43 7.29 2.70 0.97 4.00 2.98
30 11.5 10 -
0.33 16.00 24.40 22.80 1.15 1.28 2.01 6.16 0.50 2.95 1.05 9.54 3.70 25.75 5.80 3.86 5.25 1.85 0.41 1.42 1.48
2011 Div BR (%) (%)
20B 20B 10B -
-
-
Open 1,400.58 Turnover 2,556,888 P/E (x) 21.69 Paid up Cap(mn)
Company
1st Fid Leasing Allied Rental AL-Meezan Mutual F. Atlas Fund of Funds Constellation Modaraba Crescent St Modaraba Elite Cap Modaraba Equity Modaraba First Dawood Mutual F. Golden Arrow H B L Modaraba Habib Modaraba I B L Modaraba JS Growth Fund JS Value Fund Meezan Balanced Fund PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Safeway Mutual Fund Stand Chart Modaraba Trust Modaraba U D L Modaraba
264 600 1375 525 65 200 113 524 581 760 397 1008 202 3180 1186 1200 1000 2835 2841 872 545 454 298 264
High Low 1,429.76 1,372.05 Total cos Defaulter cos P/BV (x) ROE (%) 0.48 2.21
PE
Open
High
Low
9.38 3.18 7.56 1.85 3.07 1.45 3.50 11.75 0.66 2.31 2.50 6.03 18.18 70.88 20.57 2.27 1.99 9.22 7.16 2.27 8.83 4.66 2.90 1.76
1.50 15.35 8.87 4.50 1.98 0.71 2.75 1.88 2.24 3.34 7.88 7.00 2.01 5.78 5.94 7.74 7.12 14.50 6.50 1.00 8.37 9.52 1.85 6.10
1.75 15.10 9.12 4.62 1.50 0.70 3.00 2.20 2.29 3.39 7.89 7.19 2.05 5.80 6.20 8.07 7.30 14.75 6.45 1.09 9.00 10.10 1.55 6.20
1.30 15.00 8.85 4.50 1.16 0.56 2.80 1.80 2.00 3.24 7.50 6.99 2.00 5.65 5.70 7.90 6.85 14.35 6.30 1.00 8.50 9.50 1.51 6.12
Close 1,388.48 Listed cap 29,771.58 mn Payout (%) 104.74
Close Chg
Volume
1.50 15.01 9.07 4.59 1.35 0.58 2.80 1.88 2.09 3.24 7.50 7.00 2.00 5.67 5.76 7.91 6.86 14.38 6.30 1.00 8.83 9.50 1.51 6.20
788 4000 392580 51050 1819 9841 106 59517 29087 90125 5003 117580 164 499162 514786 231693 161535 276328 51509 24899 1500 24935 8100 595
2.00 16.00 9.15 5.47 1.99 0.87 3.49 2.98 2.39 3.60 9.00 7.30 3.69 6.10 6.20 8.25 7.80 15.06 7.14 1.20 9.00 10.29 2.30 6.55
0.00 -0.34 0.20 0.09 -0.63 -0.13 0.05 0.00 -0.15 -0.10 -0.38 0.00 -0.01 -0.11 -0.18 0.17 -0.26 -0.12 -0.20 0.00 0.46 -0.02 -0.34 0.10
Symbols
Change -12.10 Market cap 18,819.49 mn Div Yield (%) 7.50
Last 60 days High Low 1.18 14.50 6.06 3.11 1.00 0.16 2.05 1.06 1.61 2.56 5.75 6.00 1.15 2.70 2.70 5.15 5.31 8.00 3.67 0.81 5.01 8.51 1.15 5.21
Open 3.05 58.50 61.83 18.58 35.50 14.40 4546.28 119.94 12.40 21.34 1135.00 44.01 1.50 48.87 2320.00 38.26 8.50 10.40 14.43 3.60 4.00 6.01 12.00 1.14 3.50 66.50 73.98 1.01 65.25 11.33 3.40 1.56 6.55 49.00 7.50 2.61 1.70 6.00 3.90 5.67 1.60 4.51 64.02 5.70 0.40 2.29 4.75 47.61 0.56 0.32 3.00 40.85 90.00 68.05 1216.99 8.00 11.00 30.00 6.72 234.95 115.00 1.28 10.99 43.01 2.48 7.43 1.41
High 3.20 60.00 62.40 19.50 34.00 14.40 4699.93 120.00 12.35 22.00 1115.00 43.31 1.79 51.18 2436.00 39.00 8.80 11.29 14.10 4.24 4.88 6.97 12.70 1.22 4.00 63.21 75.99 1.20 65.00 12.00 3.40 1.75 6.10 50.99 8.50 3.00 1.50 7.00 4.50 5.85 1.60 5.51 63.01 6.30 0.50 2.40 5.20 48.49 0.69 0.45 4.00 42.85 85.95 64.65 1160.01 9.00 11.95 28.50 7.60 239.95 110.05 1.10 10.10 44.80 2.50 7.45 1.49
Low
Close
3.20 59.99 61.75 19.49 34.00 14.40 4516.01 119.50 11.80 22.00 1100.00 41.87 1.45 48.50 2204.13 39.00 8.80 9.40 14.10 2.92 3.90 5.31 12.50 0.85 4.00 63.21 75.99 1.20 65.00 12.00 3.40 1.53 6.10 49.00 8.40 2.20 1.50 7.00 4.50 5.02 1.33 5.51 63.01 4.70 0.20 2.40 4.26 46.51 0.40 0.33 2.00 42.85 85.95 64.65 1160.00 9.00 11.95 28.50 7.40 239.95 110.05 1.10 10.10 44.45 2.35 7.45 1.29
3.20 60.00 61.75 19.49 34.00 14.40 4530.24 120.00 12.34 22.00 1107.00 41.89 1.73 48.50 2385.08 39.00 8.80 11.29 14.10 3.94 3.90 6.82 12.50 1.22 4.00 63.21 75.99 1.20 65.00 12.00 3.40 1.68 6.10 49.00 8.40 2.70 1.50 7.00 4.50 5.85 1.58 5.51 63.01 4.70 0.35 2.40 4.73 47.50 0.69 0.39 2.00 42.85 85.95 64.65 1160.01 9.00 11.95 28.50 7.40 239.95 110.05 1.10 10.10 44.45 2.35 7.45 1.29
Change
Vol
0.15 1.50 -0.08 0.91 -1.50 0.00 -16.04 0.06 -0.06 0.66 -28.00 -2.12 0.23 -0.37 65.08 0.74 0.30 0.89 -0.33 0.34 -0.10 0.81 0.50 0.08 0.50 -3.29 2.01 0.19 -0.25 0.67 0.00 0.12 -0.45 0.00 0.90 0.09 -0.20 1.00 0.60 0.18 -0.02 1.00 -1.01 -1.00 -0.05 0.11 -0.02 -0.11 0.13 0.07 -1.00 2.00 -4.05 -3.40 -56.98 1.00 0.95 -1.50 0.68 5.00 -4.95 -0.18 -0.89 1.44 -0.13 0.02 -0.12
100 100 100 100 100 100 92 81 51 50 50 30 27 22 20 20 19 16 12 12 12 11 11 11 10 10 10 10 10 10 8 8 7 7 7 5 5 5 5 3 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS
EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index
2011 Div BR (%) (%)
NON LIFE INSURANCE Open 803.40 Turnover 857,355 P/E (x) 12.85
Paid up Cap(mn)
Company
American Life EFU Life Assurance New Jub Life Insurance
2011 Div BR (%) (%)
7.8R -
10.31 36.31 69.86 10.30 39.75 90.00 59.00 17.40 11.25 6.60 7.00 2.95
Performance of SR Life Insurance Index
Performance of SR Electricity Index High Low 1,374.59 1,317.30 Total cos Defaulter cos P/BV (x) ROE (%) 1.37 9.35
10.50 37.55 72.00 11.28 40.87 91.50 59.99 18.34 12.39 6.60 7.00 3.00
LIFE INSURANCE
-
ELECTRICITY Open 1,340.52 Turnover 8,505,215 P/E (x) 14.61
11.19 37.38 73.08 10.36 40.14 91.08 59.48 17.93 11.49 6.60 7.20 2.75
% Change -0.86 5-Day High 1,400.58 5-Day Low 1,384.28
2010 Div BR (%) (%) 22.5 18.5 2.2 1.2 5 17 11 21 3 5 10 15.5 10 20 10 3 18.2 17 5 12.5
2011 Div BR (%) (%)
-
-
-
Open
High
Low
Close 326.60
Change
Vol
330.16
FFBL-FEB
41.52
42.05
41.20
41.29
-0.23
689500
ENGRO-FEB 213.98
219.80
212.99
214.56
0.58
653000
11.38
-0.39
624000
ANL-FEB NBP-FEB
11.77 78.34
337.50
322.25
POL-FEB
11.99
11.35
79.35
77.25
-3.56 1108500
77.54
-0.80
478000
NML-FEB
67.57
68.70
66.41
66.59
-0.98
401500
PSO-FEB
307.08
310.00
298.00
301.11
-5.97
346500
DGKC-FEB
29.94
30.45
29.60
29.78
-0.16
MCB-FEB
234.99
237.98
227.00
228.67
-6.32
214000
NETSOL-FEB 26.00
237000
27.01
25.60
26.06
0.06
187000
212.35
216.90
208.90
210.57
-1.78
167500
73.80
75.51
71.50
73.07
-0.73
162500
FFC-FEB
153.77
155.01
152.75
152.99
-0.78
162000
BOP-FEB
8.95
9.15
8.83
8.91
-0.04
156000
AICL-FEB
95.96
97.00
93.00
93.38
-2.58
PTC-FEB
19.31
19.60
18.50
19.08
-0.23
172.42
175.45
170.00
172.40
-0.02
47000
NCL-FEB
23.87
24.90
24.30
24.30
0.43
41000
UBL-FEB
69.47
69.00
67.70
67.73
-1.74
18500
HUBC-FEB
39.53
39.25
39.00
39.17
-0.36
15000
PPL-FEB LUCK-FEB
OGDC-FEB
83000 68500
ZERO VOLUME Symbols AABS
Open
98.00
Low 98.00
Close
Change
98.00
Vol
-4.25
0.00
AATM
1.10
0.99
0.99
0.99
-0.11
0.00
ADOS
17.69
16.90
16.90
16.90
-0.79
ALTN
10.65
10.50
10.50
10.50
-0.15
BHAT
259.99
259.00
259.00
259.00
-0.99
0.00
57.25
57.51
57.51
57.51
0.26
0.00
CWSM
1.25
1.20
1.20
1.20
-0.05
FIMM
63.35
63.25
63.25
63.25
-0.10
FPJM
1.88
1.49
1.49
1.49
-0.39
0.00
GRYL
1.46
1.95
1.95
1.95
0.49
0.00 0.00
BTL
102.25
High
0.00 0.00
0.00 0.00
GUTM
18.56
19.56
19.56
19.56
1.00
HICL
13.89
13.80
13.80
13.80
-0.09
0.00
KOHS
3.90
4.00
4.00
4.00
0.10
0.00
BOARD MEETINGS
Pakistan Telecommunication Co Ltd
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
56.13
Support 1
12,213.65
MA (5-day)
12,447.63
Support 2
12,067.95
MA (10-day)
12,468.83
Resistance 1
12,559.30
MA (100-day)
11,098.94
Resistance 2
12,759.25
10,542.36
Pivot
Fair Value
Hold
224
Hold
TFD Research
25.8
Positive
TFD Research
44.25
Neutral
TFD Research
Technical Outlook Technical Analysis
Leverage Position
34.93 19.38 19.16 19.33
Free Float Shares (mn) 585.02 Free Float Rs (mn) 10,875.59 ** NOI Rs (mn) 16.08 Mean 18.89
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
60.74 212.18 186.54 186.17
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
147.48 31,387.03 287.31 213.61
* Target price for Jun-11 & **Net Open Interest in future market
playing a downward trend. Volatility is extremely high when compared to displaying an upward trend. Volatility is high as compared to the average is displaying an upward trend. Volatility is high as compared to the average the average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect mod- volatility over the last 10 trading sessions. Volume indicators reflect modreflect moderate flows of volume into PTC (mildly bullish). Trend forecast- erate flows of volume into FFBL (mildly bullish). Trend forecasting oscilla- erate flows of volume into ENGRO (mildly bullish). Trend forecasting osciling oscillators are currently bearish on PTC.
tors are currently bullish on FFBL.
Brokerage House
Fair Value
Rs Recommendations
Brokerage House
*Invest Cap
360
Hold
*Invest Cap
336.1
Hold
TFD Research
TFD Research
50.3
Positive
TFD Research
281.35
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
58.74 329.59 269.47 248.19
Bank Al-Falah Ltd
Fair Value
Rs Recommendations
77 78.6
107.94 35,056.64 347.17 328.13
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
50.98 67.36 56.38 52.47
Fair Value
Rs Recommendations
*Invest Cap
11.55
Hold
*Arif Habib Ltd
11.80
Hold
TFD Research
14.01
Positive
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Brokerage House
Buy Positive
Negative
Technical Outlook
Technical Outlook
lators are currently bullish on ENGRO.
Nishat Mills Ltd
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
175.80 11,644.99 94.48 66.90
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
55.87 11.53 9.77 9.71
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
674.58 7,737.41 N/A 11.65
* Target price for Jun-11 & **Net Open Interest in future market
HUBC closed down -0.21 at 38.79. Volume was 134 per cent above aver- POL closed down -4.14 at 324.77. Volume was 77 per cent above average NML closed down -0.81 at 66.24. Volume was 26 per cent below average BAFL closed down -0.25 at 11.47. Volume was 24 per cent below average age and Bollinger Bands were 4 per cent wider than normal.
and Bollinger Bands were 7 per cent narrower than normal.
and Bollinger Bands were 21 per cent narrower than normal.
and Bollinger Bands were 16 per cent narrower than normal.
HUBC is currently 11.1 per cent above its 200-day moving average and is POL is currently 30.9 per cent above its 200-day moving average and is NML is currently 26.2 per cent above its 200-day moving average and is BAFL is currently 18.1 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average displaying an upward trend. Volatility is relatively normal as compared to displaying an upward trend. Volatility is relatively normal as compared to displaying an upward trend. Volatility is extremely low when compared to volatility over the last 10 trading sessions. Volume indicators reflect volume the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators flowing into and out of HUBC at a relatively equal pace. Trend forecasting reflect moderate flows of volume into POL (mildly bullish). Trend forecast- reflect moderate flows of volume into NML (mildly bullish). Trend forecast- reflect very strong flows of volume into BAFL (bullish). Trend forecasting oscillators are currently bullish on HUBC.
ing oscillators are currently bullish on POL.
ing oscillators are currently bullish on NML.
oscillators are currently bullish on BAFL.
Date
Time
Adil Textile Mills Limited Byco Petroleum Pakistan Ltd BankIslami Pakistan Ltd Fauji Cement Company Ltd BMA Savings Fund BMA Empress Cash Fund Gharibal Cement Ltd JS Value Fund Ltd Pakistan State Oil Co Ltd IGI Investment Bank Tri-Pack Films Ltd Unilever Pakistan Limited Otsuka Pakistan Limited. Kot Addu Power Company Ltd Unilever Pakistan Foods Ltd Packages Limited Indus Motor Company Ltd Shabbir Tiles & Ceramics Ltd Ghani Gases Ltd BOC Pakistan Limited
01-Feb 02-Feb 03-Feb 03-Feb 03-Feb 03-Feb 03-Feb 03-Feb 09-Feb 10-Feb 12-Feb 14-Feb 15-Feb 16-Feb 17-Feb 18-Feb 22-Feb 24-Feb 25-Feb 25-Feb
10:30 3:00 4:00 11:00 12:30 12:30 4:30 10:30 10:00 2:00 11:00 2:30 10:30 12:30 2:30 11:30 10:30 11:30 3:00 -
Company
PTC is currently 3.8 per cent below its 200-day moving average and is dis- FFBL is currently 32.8 per cent above its 200-day moving average and is ENGRO is currently 14.4 per cent above its 200-day moving average and
*Arif Habib Ltd
* Target price for Jun-11 & **Net Open Interest in future market
326.94 13,411.02 121.94 41.24
* Target price for Jun-11 & **Net Open Interest in future market
Buy
810.01 31,420.21 2.10 39.07
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Technical Analysis
Company
TECHNICAL LEVELS
Positive
PTC closed down -0.60 at 18.59. Volume was 274 per cent above average FFBL closed down -0.17 at 41.02. Volume was 27 per cent above average ENGRO closed up 0.75 at 212.82. Volume was 188 per cent above aver(trending) and Bollinger Bands were 20 per cent wider than normal. and Bollinger Bands were 71 per cent wider than normal. age (trending) and Bollinger Bands were 76 per cent wider than normal.
Buy
Leverage Position
Leverage Position
60.74 41.72 33.33 30.89
245.4
Technical Outlook
Technical Outlook
47
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Rs Recommendations
210
*Arif Habib Ltd
50
53.77 38.87 35.71 34.91
Fair Value
*Invest Cap
Sell
*Invest Cap
Technical Analysis
Brokerage House
Hold
37
*Arif Habib Ltd
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Rs Recommendations
39
*Arif Habib Ltd
Pakistan Oilfields Ltd
Rs Recommendations
Fair Value
*Invest Cap
Buy
Hub Power Co Ltd
Brokerage House
Brokerage House
Buy
24.7
*Invest Cap
12,413.60
26 per cent narrower than normal. As far as resistance level is concern, the market will see major 1st resistance level at 12,559.30 and 2nd resistance level at 12,759.25, while Index will continue to find its 1st support level at 12,213.65 and 2nd support level at 12,067.95. KSE 100 INDEX is currently 17.3 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into INDEX (mildly bullish). Trend forecasting oscillators are currently bullish on INDEX.
Rs Recommendations
25
*Arif Habib Ltd
RSI (14-day) MA (10-day) KSE 100 INDEX closed down -103.34 points at 12,359.36. MA (100-day) Volume was 2 per cent below average and Bollinger Bands were MA (200-day) MA (200-day)
Fair Value
Engro Corporation
Fauji Fertiliser Bin Qasim Ltd
Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Corp Arif Habib Limited Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D.G.K.Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J.O.V.and CO Japan Power JS Bank Ltd Jah Siddiq Co Kot Addu Power K.E.S.C Lotte Pakistan Lucky Cement MCB Bank Ltd Maple Leaf Cement National Bank Nishat (Chunian) Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat Mills Oil & Gas Dev. XD PACE (Pakistan) Ltd. Pervez Ahmed Sec P.I.A.C.(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki P.S.O. XD P.T.C.L.A Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele
RSI 1st 2nd (14-day) Support 41.41 2.90 2.75 56.32 69.45 67.50 14.80 52.50 51.05 47.47 25.55 25.00 43.37 25.30 24.85 56.61 91.20 89.50 53.13 17.80 17.55 55.08 11.00 10.75 66.90 377.80 371.50 48.50 128.70 124.95 55.87 11.25 11.05 54.17 3.90 3.85 31.81 8.60 8.40 45.07 2.00 1.90 45.44 29.15 28.75 45.00 2.80 2.70 42.60 2.55 2.50 33.51 39.55 39.10 33.07 66.85 65.95 60.74 209.70 206.55 45.54 14.80 14.60 41.55 4.80 4.70 60.74 40.65 40.30 71.69 151.20 149.95 53.03 121.20 119.40 53.77 38.00 37.20 47.98 145.05 142.60 67.57 291.05 289.65 44.16 3.75 3.65 42.98 1.55 1.50 36.08 2.30 2.25 44.21 11.10 10.80 49.49 42.60 42.30 36.31 2.55 2.45 57.49 15.10 14.85 41.63 70.45 68.60 46.03 222.00 217.20 35.25 2.60 2.50 54.72 76.15 75.30 59.29 23.65 23.20 71.20 25.35 24.90 38.54 2.65 2.55 54.34 1.75 1.55 50.98 65.40 64.55 49.62 168.05 164.15 51.11 2.85 2.70 37.93 1.80 1.75 52.96 2.35 2.30 40.21 6.65 6.55 58.74 318.40 312.05 38.13 205.20 201.60 32.23 64.70 63.70 50.10 294.35 289.70 34.93 18.00 17.40 53.05 208.60 206.30 39.41 26.10 25.55 45.35 13.20 13.10 47.62 21.60 21.35 39.11 2.05 2.00 36.77 3.10 3.05 50.63 66.25 65.15 45.95 2.65 2.55
1st
2nd
Resistance 3.15 3.35 73.20 75.00 55.60 57.25 27.10 28.10 26.40 27.05 95.45 98.10 18.50 18.95 11.75 12.25 393.65 403.20 139.85 147.30 11.85 12.20 4.00 4.05 9.05 9.35 2.15 2.25 30.10 30.65 3.05 3.20 2.65 2.70 40.65 41.35 68.85 69.95 217.25 221.65 15.30 15.65 4.95 5.05 41.60 42.20 154.30 156.15 125.65 128.30 39.90 41.00 151.05 154.65 294.80 297.15 4.00 4.15 1.75 1.85 2.40 2.45 11.85 12.35 43.35 43.80 2.80 2.95 15.75 16.15 74.70 77.10 234.60 242.40 2.70 2.80 78.30 79.70 24.65 25.20 26.55 27.30 2.95 3.10 2.05 2.20 67.70 69.15 175.85 179.70 3.25 3.50 2.00 2.10 2.45 2.50 6.85 6.95 334.25 343.70 214.20 219.60 67.05 68.40 305.85 312.70 19.40 20.20 214.60 218.30 27.50 28.35 13.45 13.60 22.40 22.95 2.20 2.30 3.30 3.45 69.20 71.05 2.85 3.00
Pivot 3.05 71.25 54.15 26.55 25.95 93.80 18.25 11.50 387.35 136.15 11.60 3.95 8.90 2.10 29.70 2.95 2.60 40.20 67.95 214.10 15.10 4.90 41.25 153.05 123.85 39.10 148.65 293.40 3.90 1.65 2.35 11.55 43.05 2.70 15.50 72.85 229.80 2.65 77.50 24.20 26.10 2.85 1.90 66.85 171.90 3.10 1.95 2.40 6.75 327.85 210.60 66.05 301.20 18.80 212.30 26.95 13.35 22.15 2.15 3.25 68.10 2.75
8
Tuesday, February 1, 2011
Pakistan’s Data centres get EPI certification SArabian prince may ‘netizens’ to hit 22mn buy Zain's within 2 years Saudi stake
KOLKATA: A man speaks on a BlackBerry mobile phone inside a shop in Kolkata.-Reuters
India demands full BlackBerry access NEW DELHI: India rejected on Monday Research In Motion's (RIM) offer to allow it only partial access to its BlackBerry data services as neighboring Pakistan also moved to restrict the popular smartphone's services. It was not immediately clear what the Indian government, which says it is driven by security concerns, would now do after the Canadian smartphone maker failed to fulfill demands to monitor encrypted corporate email by a January 31 deadline. RIM had previously said was confident India would not ban its services. Earlier this month, RIM said it had given India the means to access its Messenger service ahead of the deadline but reiterated that it could not give the authorities access to monitor secure corporate emails. Home (Interior) Minister Palaniappan Chidambaram
told a news conference the government still wanted access to emails. "I think a decision will be taken today by the MHA (Ministry of Home Affairs)," Chidambaram added. RIM's India-based spokesman was not immediately available for comment. Last year, India demanded access to all BlackBerry services as part of efforts to fight militancy and security threats over the Internet and through telephone communications, demands echoed by several other countries that have also tried, sometimes successfully, to restrict the popular smartphone. On Monday, India's neighbor Pakistan called on mobile phone operators to stop BlackBerry services to foreign missions amid concern about the security of the communications, industry sources said.
RIM encrypts email messages as they travel between a BlackBerry device and a computer known as BlackBerry Enterprise Server (BES). The Canadian smartphone maker has said that it does not have a master key to decode emails, adding that each organization would have the technical capability to grant access to its own encrypted enterprise email. RIM said this month it would filter pornographic Internet content for BlackBerry users in Indonesia, following government pressure to restrict access to porn sites or face its browsing service being shut down. Last year, the company narrowly escaped a ban in Saudi Arabia and the United Arab Emirates. Neither side disclosed what RIM did to get itself onside with UAE telecom regulations.-Reuters
ISLAMABAD: A view of under construction high-rise telecom tower in Blue Area.-APP
ISLAMABAD: Internet without any questioning is witnessing advancement and has become an important part of daily life routine. From sending a simple text email to viewing streaming movie video, the Internet is there behind the scene. Every segment of a society especially professionals, students, kids and even senior citizens browse around this amazing sphere of `networks of networks' as per their interest of usage. Internet usage is also flourishing in Pakistan and is likely to see three digit growth rate in the next couple of years while it is anticipated that total internet base will hit 22 million mark by year 2013, out of which 4.3 million users will be using broadband Internet. Internet is going to be the next growing industry in Pakistan after Telecom, specifically in a scenario when Universal Service Fund (USF) is putting massive efforts to take internet to rural areas of Pakistan. Pakistan Telecommunication Authority (PTA) is already planning to know the exact number of internet users in Pakistan -which is apparently still not known to anyone, but as per Internet World Stats there are already 17.5 million internet users in Pakistan. Meanwhile, an Internet research company has carried out an interesting exercise to identify what happened over the world of Internet during 2010. The numbers calculated by them show some appealing and astonishing information such as average number of e-mails sent per day during 2010 were 294 billion, 25 billion tweets sent on Twitter in 2010, 2 billion videos were watched per day over YouTube and 250 million new people joined Face book during 2010.-APP
Time to rush changes, says Nokia HELSINKI: Tumbling profits forced Finnish mobile phone maker Nokia to acknowledge on Thursday that it must change even faster if it wants to halt the erosion of its status as global market leader. 'In short, the industry's changed and now it's time for Nokia to change faster,' said chief executive Stephen Elop, a Canadian who late last year was appointed as Nokia's first-ever foreign head. Industry watchers say they are now looking closely at what line Elop will take in 2011, seen as a
make-or-break year for the company. For the October-December period, the company posted a net profit of 745 million euros (S$1.31 billion) down from 948 million euros a year earlier, on sales up six per cent at 12.65 billion euros. For 2010, Nokia posted a net profit for the year of 1.85 billion euros, up from 891 million euros as sales rose four per cent to 42.4 billion euros. Even though the company beat expectations for the year, it still saw its market share slip to 32 per cent in 2010 from 34 per cent in 2009. 'Last year was quite terrible because the expectations were rather high after ... the company presented its comeback plan (in late 2009),' Nordea analyst Sami Sarkamies told news agency ahead of the results release.-Agencies
PTCL puts in place 2 state-of-art data depots
ISLAMABAD: Pakistan Telecommunication Company LTD (PTCL) understanding the rapidly changing business environment and its growing reliance upon automation has introduced regions largest Data Centers in Karachi and Lahore. PTCL Data Centers are certified by the internationally recognised certification body, EPI. This certification by an international body is the first data center certification in Pakistan's history and proves PTCL's commitment to providing state of the art products and services backed by engineering and support for the Government and Enterprise markets of Pakistan. PTCL has the largest geographically redundant commercial data centers not only in Pakistan but also in the whole region, said a press release issued here. PTCL Data Center services is an ideal choice for companies who want the flexibility to house their Primary, Disaster Recovery and/or Business Continuity sites and choose from a variety of cost reducing services as their business demands. These data centers are part of overall PTCL managed services approach which provides corporate customers not only reduced costs, but also improvements in the availability, performance, resilience and security of an organisation's IT systems. PTCL Data Center solution provides customers Managed and Hosted Cloud based serv-
ices that comprise of Computing as a Service, Processing as a service, Storage as a Service, Software as a Service, Application Hosting, Infrastructure Hosting, Caging, Co-Location, Disaster Recovery as a service, Backup Solutions, Hosted Business Solutions, Unified Communications and Telepresence switching. This certification by an internationally recognised organisation ensures that PTCL Data centers provide a reliable, responsive and resilient infrastructure, is designed and built using international standards and provides a secure, managed, climatically controlled environment for the housing and hosting of sensitive, mission-critical data and applications. President PTCL Walid Irshaid said, "PTCL is heavily investing in these ICT assets on behalf of our customers so that they can focus on their core competencies. Getting Data Centers certified is further evidence that PTCL is committed to provide technology to the government and enterprise markets of Pakistan of international standards. As the National Carrier of Pakistan this is not only our obligation but also our duty." PTCL is the only unified service provider in Pakistan, able to serve all customer segments including consumers, enterprise and carries a comprehensive portfolio of services to cater for all their needs.APP
PTA’s OCMS switched on ISLAMABAD: Federal Minister for Information Technology &Telecom Sardar Aseff Ahmad Ali inaugurated "Online Complaint Management System" (OCMS) at PTA Headquarters. The new system developed by Pakistan Telecommunication Authority (PTA) would enable telecom consumers to lodge their complaints regarding telecom services online and have prompt response on them. Chairman PTA Dr Mohammad Yaseen, Member Finance, Syed Nasrul Karim Ghaznavi, and Member Technical, Dr Khawar Siddique khokhar, were also present during the ceremony. While appreciating the role of Pakistan Telecommunication Authority as a regulator Federal Minister said that PTA is one of the best organisations of the country and it is the responsibility of the authority to address the grievances and complaints of consumers and to ensure the provision of quality services. The launch of 'Online Complaint Management System' would prove to be a significant step towards the achievement of these objectives, he added. The Minister said, "Government is there to provide policy guidelines and directions, it is the responsibility of the institution to deliver to the public in line with the policy guidelines". He also discussed with the Secretary IT and chairman PTA the plan and scope of starting training programmes in IT sector for educated youth of the country to enable them to get jobs in local and internation-
al markets. On this occasion, Chairman PTA briefed the Minister on Pakistan telecom sector development and Muhammad Talib Dogar, DG (Services) also made presentation on Complaint Management System. The primary objective of this new system is the management and resolution of telecommunication subscriber's complaints. The new system provides fast and automated channel to the subscribers where they can launch their complaints online using a dedicated complaint system available at PTA website. It has an integrated approach where a consumer, operator and PTA become part of a single management system. The complaints registered by subscribers are automatically forwarded to the concerned channel of PTA as well as to the operator. The resolution status of the complaint is available to the complainant where at any point of time it can be checked through auto-generated complaint reference number giving him up-todate information. Redesigning of Complaint Web Form has been done after analyzing the form of different telecom regulators like Canada, Australia & Singapore and it will have an interface in all PTA Zonal Offices for the access of telecom consumers across the country. It will also be helpful for online routing of complaints to nominated focal persons for all concerned operators.-NNI
DUBAI: Saudi billionaire Prince Alwaleed's investment firm has offered to buy Kuwaiti telecom company Zain's Saudi Arabian assets, paving the way for UAE firm Etisalat to complete a takeover of Zain. Alwaleed's Kingdom Holding, which announced the offer on Monday, did not specify a price for the 25 per cent stake in debt-troubled Zain Saudi. Zain said it would study the offer. Etisalat, the Gulf's No. 2 telecoms firm, bid $12 billion for a controlling 46 per cent stake in Zain last September. Zain has to sell its stake in Zain Saudi , valued at 2.75 billion riyals ($733 million), for regulatory reasons as Etisalat also operates in Saudi Arabia. Kingdom said the offer for Zain Saudi stake will expire on February 6 and needs approval from Zain's board of directors. Zain shares rose 2.5 per cent on the Kuwaiti bourse after being briefly halted earlier, while Etisalat's shares jumped 2.5 per cent in Abu Dhabi trade at 0715 GMT. "I don't think Kingdom will pay a premium. The bid will be priced near to Zain Saudi's book value, which is 4.3 riyals per share," said Hesham Tuffaha, head of research at Bakheet Investment Group in Riyadh. Zain Saudi is an attractive proposition for Kingdom because of Saudi Arabia's large, young population, and the firm has been trying to get into the local telecoms sector for some time, Tuffaha added. Etisalat's bid for Zain has centers on Kuwaiti family conglomerate Kharafi group, a major Zain shareholder. The deal has been dogged by hurdles including a lawsuit attempting to block the sale as well as an unexpected bid by Turkey's Cukurova Holding to buy 29.9 per cent of Zain for $7.89 billion. Alwaleed, a nephew of Saudi King Abdullah, owns 95 per cent of Kingdom Holding and has minority stakes in some of the world's top companies including Citigroup Inc. In November, Kingdom and Prince Alwaleed subscribed $500 million to General Motors' initial public offering. PLENTY OF INTEREST, NOT MANY OFFERS A number of Gulf operators have been seen as potential bidders for the Zain Saudi stake. Low margins and high penetration rates in the region are forcing operators to look at potential acquisitions for growth. But Kingdom's offer is the first formal bid. On Thursday, mobile operator Bahrain Te l e c o m m u n i c a t i o n s ' (Batelco) chief executive said he was still eyeing a stake and would make an offer at the right price. South African group MTN has also expressed interest in Zain Saudi. Zain Saudi Chief Executive Saad al-Barrak is also eyeing a management buyout of the stake, people familiar with the matter told Reuters. Zain Saudi, the Kingdom's newest mobile operator, has borrowed heavily to fend off cash-rich rivals, Saudi Telecom Co and Mobily. The company is in talks with lenders after missing some commitments last year on a two-year $2.5 billion Islamic loan. The ruler of Saudi Arabia has a 5 per cent stake in Zain Saudi, while Faden Trading & Contracting and Saudi Plastic Factory hold 6.8 per cent each, according to Reuters data.Reuters
9
Tuesday, February 1, 2011
Crude oil prices retreat, focus on Egypt Fears about Egyptian unrest spreading subside LONDON: Oil prices fell back on Monday as fears that unrest in Egypt could spread across a region that produces over a third of the world's oil subsided. Over 100 people have been killed during six days of protests in Egypt which helped push Brent within 3 cents of $100 a barrel in early trade, its highest level since Oct. 1, 2008. "Some of the fear about Egypt and the canal and the pipeline have subsided and that may be taking some of that premium out of crude," said Chris Dillman, analyst at Tradition Energy in Stamford, Connecticut. On Monday, OPEC Secretary General Abdullah al-Badri said the group would boost oil supply in the event of a real shortage, but did not expect current unrest in Egypt to affect Suez Canal or the Sumed pipeline oil flows. Brent fell back from a $99.97 a barrel high, to trade 30 cents lower at $99.12 a barrel as of 1448 GMT on Monday, while US crude fell 30 cents to $89.04
a barrel. Oil markets were relatively balanced, Saudi Oil Minister Ali al-Naimi told an industry conference on Monday, arguing the price spike had more to do with the value of the dollar and the behaviour of oil traders. "The main problem would be contagion to other countries in
the region but we have no indication of that. What we should see in the coming weeks is a drop in prices because they are unsustainable at this level," said Christophe Barret, an oil analyst at Credit Agricole Corporate and Investment Bank. Fears Egyptian unrest could curb the flow of oil through Egypt from the Middle East to Europe also underpinned price movements on Monday. Egypt controls the Suez Canal and the SuezMediterranean (SUMED) Pipeline, which between them moved over 2 million barrels
per day (bpd) of crude and oil products in 2009. Shipping has so far proceeded as normal through the 192-km (120-mile) Suez Canal shipping choke point but port operations have slowed as protests have prevented supplies and staff from reaching docks. "No ships have been delayed, but there have been no immigration or customs officials to clear security teams for shipments for the past two days," said a senior coordinator with a shipping firm operating in Suez, who wished not to be named. Analysts say shipping through the Suez Canal is likely to proceed as usual. OPEC ministers will discuss oil output policy on the sidelines of a conference in Saudi Arabia next month, an OPEC delegate told Reuters. Ministers are scheduled to meet on Feb. 22 in Riyadh with their counterparts from oil consuming nations and consumer body the International Energy Agency at the International Energy Forum. -Reuters
Floods in Malaysia lift palm to 1-wk high KUALA LUMPUR: Malaysian palm oil futures hit one-week highs on Monday as floods in key growing areas delayed deliveries, raising concern of a further tightening in global vegetable oil supplies and escalating inflation in importing nations. Palm oil notched its highest daily gain this year with traders expecting the market to rally as floods in key producing regions of Johor and Sabah cut off access roads and bring harvesting to a standstill. The benchmark April crude palm oil contract on the Bursa Malaysia Derivatives rose as much as 3 per cent to 3,809 Malaysian ringgit ($1,247)a tonne, a level unseen since Jan.
24. Traded volume stood at 19,085 lots at 25 tonnes each, as traders were compelled to take positions ahead of the a string of public holidays, including Federal Territories day on Tuesday and Lunar New Holiday on Thursday and Friday. Prolonged exposure to moisture has also affected yield quality for palm fruit, raising fears of a squeeze in palm oil supplies at a time when food demand is still resilient. "The potential food crisis has become a little more real with Malaysian palm oil in trouble," said a trader with a local commodities brokerage. "This news is going to
prompt more short-covering as the main vegetable oil markets are going to be closed this week for the Lunar New Year." Cargo surveyor Intertek Testing Services reported a 3.6 per cent decline in January exports from a month ago but traders said the exports staying above 1.2 million tonnes showed demand was still strong from European Union. Higher palm oil prices added to gains in US soyoil, which rose 0.9 per cent on concerns over tight world supplies amid a grain port strike in Argentina, the world's largest soyoil exporter. The most active September soyoil contract on China's Dalian Commodity Exchange rose 1.8 per cent. -Reuters
Copper eyes record high, demand hopes fuel gains LONDON: Copper came within touching distance of record highs on Monday as expectations of healthy demand from top consumers China and the United States boosted sentiment. Tin hit a record high of $30,099 a tonne on worries about supplies from top exporter Indonesia. Benchmark copper hit $9,750 a tonne, its highest since reaching a record at $9,781 on Jan. 19. The metal used in power and construction ended at $9,745 from $9,635 on Friday. "The economic data has been favourable, (US) consumer confidence has risen," Credit Agricole analyst Robin Bhar said. "If you're positive about the macro outlook, one way to play that view is through the copper market." A measure of factory activity in the US Midwest rose to a 221/2 year high in January on strong orders and employment prospects. Meanwhile, consumer spending ended 2010 on a firmer footing, a trend that economists expected to continue as the labour market recovery gains traction. Investors had retreated from copper on expectations of a lull in activity with the start of a holiday week in China on
Wednesday and worries about tighter monetary policy there. "Fears that China's monetary policy would choke off economic growth have been overdone," said Peter Fertig, a con-
Shanghai copper rallies Shanghai copper rallied 2.5 per cent on Monday to its highest since May 2007, while London futures pushed to within $80 of a record high ahead of week long Chinese holidays this week. Shanghai's most-active copper futures contract, April, rose 2.5 per cent to touch 73,610 yuan a tonne. sultant at Quantitative Commodity Research. "Even if China were to grow at a slower pace this year than last, it would not change the picture. There would be a deficit." Markets expect another rise in Chinese interest rates in the first quarter. The country hiked rates twice and raised banks' reserve requirements six times last year. "There is short-covering
ahead of Chinese New Year," one trader said. "(Should copper pass through) $9,781, I would expect fresh buying and really $10,000 is on the cards." China accounts for nearly 40 per cent of global copper demand estimated this year at around 21 million tonnes. The United States is the secondlargest consumer, accounting for about 15 per cent of consumption. Aluminium rose to near threeweek highs of $2,520 a tonne. The metal used in transport and packaging ended at $2,519 from $2,472 on Friday. Tin was at $30,100 a tonne from $29,600. Prices are up more than 10 per cent so far this year. Last year the gain was nearly 60 per cent. Behind the rise has been constraints on output in Indonesia. Lead ended at $2,510 a tonne from $2,437 on Friday. Zinc ended at $2,427 a tonne from $2,354, after having earlier touched its highest in nearly two weeks at $2,435, and nickel ended at $27,350 from $26,620, having touched its highest since April at $27,350. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for January 28 2011 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash Buyer
1390
1420
Cash Seller
1410
1430
January Buyer
1390
1420
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for January 28 2011
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
2300 2310 2275 2285 2205 2215 2205 2215
2454 2455 2455 2456 2510 2515 2553 2558
9585 2544 9590 2545 9580 2465.5 9585 2466 9400 2412 9410 2417 9000 2360 9010 2365
26820 26825 26775 26800 25840 25940 24655 24755
TIN
ZINC NASAAC
29895 2295 29900 2300 29750 2313 29800 2313.5 29250 2318 29300 2323 2255 2260
2415 2416 2480 2485 2505 2515 2565 2575
Arabica coffee scales 13-1/2-yr top LONDON: Arabica coffee futures scaled a fresh 13-1/2-year peak on Monday and robustas touched their highest in 2-1/4 years, extending Friday's rally after breaking through key technical levels. Raw sugar futures slumped, retreating from near 30-year highs, as investor selling set off technical stops, while cocoa climbed on ongoing uncertainty in top grower Ivory Coast. Arabica coffee futures broke out of a five-week sideways trend and closed at their highest level in 13-1/2 years on Friday, showing the market had found a bottom and prompting buying by dealers who follow price charts to set their strategy. ICE March arabica futures climbed to a new peak of $2.4820 per lb in early trading, the highest settlement for the front month since June 1997, and were up 0.8 cent or 0.3 per cent at $2.4580 a lb at 1552 GMT. London March robusta coffee traded up $48 or 2.3 per cent to $2,177 a tonne after jumping to $2,204 per tonne in early trading, its highest since Sept. 2008, after an injection of investor and fund buying, the trader said. Raw sugar futures on ICE tumbled as much as 4 per cent after investor selling from near 30year highs triggered automatic sell stops below 33 cents a lb. ICE March raw sugar was down 0.91 cent or 2.7 per cent at 33.03 cents a lb at 1553 GMT after dropping as low as 32.59 cents a lb on the technical pressure. London March white sugar fell $16.20 or 2 per cent to $798.20 per tonne, drawing back from its record high of $835.80 a tonne reached on Dec. 29. Sugar prices remained underpinned by uncertainty about the level of exports from India and the effect of a looming cyclone on Australia's key sugar region. In cocoa, futures resumed their rally after correcting lower in the previous session, driven up by political turmoil in Ivory Coast, which grows a third of the world's crop. ICE benchmark March cocoa futures rose $29 or 0.9 per cent to $3,306 a tonne at 1554 GMT, edging towards their one-year top of $3,420 a tonne after retreating on Friday. London May cocoa gained 14 pounds or 0.7 per cent to 2,157 pounds a tonne, pushing back towards their six-month high of 2,269 pounds a tonne from a week ago. -Reuters
KOLKATA: A man pulls a rickshaw laden with boxes through a wholesale sugarcane market in Kolkata. -Reuters
Gold falters as safe haven rally fizzles LONDON: Gold fell on Monday following its biggest one-day gain of the year so far as equities steadied after Friday's losses and US consumer spending data for December beat expectations. The market was still encountering some safe-haven buying on the back of the protests in Egypt, but this was expected to be temporary, analysts said. Gold is set for its worst month-
of holding non-interest bearing assets goes up as rates increase. Scenes in Egypt, where protesters intensified their campaign to force President Hosni Mubarak to quit, have encouraged some safe-haven buying of gold, although this support is unlikely to last long, analysts said. On the physical market, premiums for gold bars were at their strongest since at least 2004 on tight supply and short cover-
ly performance since December 2009, driven down by the improving tone of some key US economic data, growing investor confidence and a near-record decline in holdings of metal in exchange-traded funds. Even a fall in the dollar index has not lifted gold this month, as the traditional negative correlation between the two has reached its most positive since midSeptember. Spot gold fell as low as $1,322.90 an ounce and was bid at $1,328.25 at 1511 GMT, against $1,338.30 late in New York on Friday. US gold futures for April delivery fell $12.70 to $1,329.00 an ounce. Gold has come under pressure this month from a raft of more positive US economic data, which has lifted appetite for assets seen as higher risk, such as stocks. The prospect of higher interest rates may hurt gold, analysts said, as the opportunity cost
ing before the festive season in India and China, as well as physical buying driven by the deadly protests in Egypt. But the world's largest goldbacked exchange-traded fund, SPDR Gold Trust, said its holdings slipped to an eight-month low of 1,224.118 tonnes, reflecting the decline in investor desire for bullion. Holdings of metal in the trust are set for their second-largest monthly decline since the fund's inception in late 2004, while open interest in COMEX gold futures staged its largest weekly fall since at least 1996, according to last week's Commitment of Traders data. Silver was up 0.6 per cent at $28.07, having risen earlier to a one-week high at $28.31. Platinum was last down nearly 0.7 per cent on the day at $1,779.50 an ounce, while palladium was down 0.6 per cent at $808.22. -Reuters
European vegetable oil prices ROTTERDAM: The following were the Monday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Mar11 1005.00+15.00, Apr11 1010.00+20.00, May11/Jul11 1015.00+20.00, Aug11/Oct11 1020.00+20.00. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1030.00+5.00, Aug11/Oct11 985.00+10.00, Nov11/Jan12 985.00+5.00, Feb12/Apr12 995.00+10.00. SUNOIL: EU dlrs tonne extank six ports option Feb11 1485.00+15.00, Mar11 1485.00+15.00, Apr11/Jun11 1460.00+10.00, Jul11/Sep11 1475.00+10.00, Oct11/Dec11 1385.00+10.00. LINOIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1590.00-1.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Jan11 1285.00+22.50, Feb11 1285.00+15.00, Mar11 1287.50+17.50, Apr11/Jun11 1265.00+20.00. PALMOIL: RBD dlrs tonne cif Rotterdam Feb11 1327.50, Mar11 1327.50, Apr11/Jun11 1297.50. PALM OLEIN: RBD dlrs tonne fob Malaysia Feb11 1280.00+17.50, Mar11 1280.00+27.50, Apr11/Jun11 1250.00+20.00, Jul11/Sep11 1220.00+20.00, Oct11/Dec11 1205.00+17.50. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Feb11/Mar11 2240.00+40.00, Mar11/Apr11 2200.00+25.00, Apr11/May11 2185.00+25.00. -Reuters
Tokyo rubber falls as oil rally loses steam TOKYO: Key Tokyo rubber futures retreated from their early highs and ended lower on Monday as oil prices lost steam after rising on concerns that tensions in Egypt might spread across the Middle East, while a stronger yen also capped the market's gains. The benchmark rubber contract on the Tokyo Commodity Exchange for July delivery rose as much as 6.6 yen or 1.4 per cent in early trade to 475.7
yen per kg, but settled at 466 yen, down 3.1 yen or 0.7 per cent. The benchmark contract posted a monthly gain of 12 per cent, down slightly from a 15 per cent rise in December. The contract hit a record high of 484.9 yen last week. On the Shanghai futures exchange, the most active rubber contract for May delivery hit a record high of 41,850 yuan ($6,359) per tonne on
Monday, surpassing the previous record high of 41,200 yuan hit last week. The May contract closed at 40,920 yuan, little changed from Friday's close of 40,940 yuan. Volume fell to 502,578 lots from 610,376 lots on Friday. Analysts said that, while the market technically was looking bullish and supply concerns continued to underpin demand, investors had grown wary of the recent rapid pace of price
increases and may seek to close positions in the near term. Traders also said the market may become choppy ahead of China's week-long New Year holidays, which begin on Feb. 2, when buying by the world's largest rubber consumer halts. Japan's crude rubber inventories rose 25 per cent in the 10 days to Jan. 20, Rubber Trade Association of Japan data showed on Monday. -Reuters
National Commodity Exchange Ltd Trading Summary Date
31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011 31-Jan-2011
Commodity
CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD KILOGOLD KILOGOLD TOLAGOLD50 TOLAGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD IRRI6W RICEIRRI - 6 RBD PALMOLEIN KIBOR3M KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
MA11 AP11 MY11 MA11 AP11 MA11 AP11 MY11 MA11 AP11 MY11 FE11 MA11 AP11 FE11 MA11 FE11 FE11 MON TUE WED THU FRI MON TUE WED THU FRI 03FE11 FE11 FE11 11-Mar 11-Jun
US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
85.70 88.70 92.25 26.80 27.79 1316.70 1317.30 1318.00 1316.80 1316.60 1318.30 36499.00 36519.00 36600.00 36482.00 36491.00 42552.00 42552.00 37527.00 37569.00 37583.00 37597.00 37611.00 44013.00 43222.00 44317.00 43217.00 43291.00 3307.00 3322.00 5235.00 86.08 85.32
90.15 92.15 93.65 28.83 28.85 1347.00 1347.00 1348.00 1330.90 1347.00 1331.30 37279.00 36883.00 37276.00 36846.00 36855.00 42977.00 42977.00 37950.00 37895.00 37909.00 37923.00 37937.00 44013.00 44197.00 44317.00 44200.00 44200.00 3307.00 3322.00 5329.00 86.12 85.46
85.65 88.64 91.03 26.69 27.79 1310.90 1311.80 1313.00 1316.80 1313.10 1318.30 36499.00 36519.00 36536.00 36482.00 36491.00 42552.00 42552.00 37527.00 37569.00 37583.00 37597.00 37611.00 43102.00 43150.00 43166.00 43183.00 43199.00 3284.00 3298.00 5235.00 86.08 85.32
89.73 91.96 93.65 27.85 27.86 1330.90 1331.30 1332.00 1330.90 1331.30 1331.30 36874.00 36883.00 36900.00 36846.00 36855.00 42977.00 42977.00 37950.00 37895.00 37909.00 37923.00 37937.00 43596.00 43533.00 43549.00 43564.00 43580.00 3284.00 3298.00 5329.00 86.12 85.46
Traded Volume in lots 659 119 1 353 2 5,473 4,081 1,068 55 74 7 3 19 4 12 14 -
Previous Settlement Price 90.07 92.24 93.89 28.07 28.08 1339.30 1340.00 1340.80 1339.30 1340.00 1340.80 37163.00 37172.00 37189.00 37135.00 37144.00 43314.00 43314.00 38246.00 38189.00 38203.00 38217.00 38231.00 43939.00 43874.00 43890.00 43907.00 43923.00 3307.00 3322.00 5235.00 86.08 85.32
Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day
Current Open Interest Settlement in Lots Price 89.73 91 91.96 74 93.65 2 27.85 46 27.86 2 1330.90 2,555 1331.30 2,257 1332.00 225 1330.90 1331.30 4 1332.00 36874.00 17 36883.00 1 36900.00 52 36846.00 1 36855.00 42977.00 42977.00 37950.00 37895.00 37909.00 37923.00 37937.00 43596.00 3 43533.00 15 43549.00 43564.00 8 43580.00 3 3284.00 3298.00 5329.00 86.12 85.46 -
A labourer walks amid seats of the Eden Gardens cricket stadium in Kolkata
10
Tuesday, February 1, 2011
Atlas have left for Swedish Open KARACHI: Pakistan number one squash player Aamir Atlas and compatriot Farhan Mehboob will be leaving tonight for the Swedish Open that kicks off from February 1 in Linkoping. Both players are placed in the main rounds of the tournament that is offering $60,000 as prize money. The world number 29 has been allowed to play in the tournament by the Pakistan Squash Federation (PSF) despite the six-month long ban imposed on him earlier for having violated its code of conduct. “The PSF has allowed me to take part in the tournament as the ban only bars me for using the PSF’s facilities,” Atlas told The Express Tribune. However, the 21-year old said he was running short of practice due to the ban. “I am going without training as I was not allowed in courts because of the ban. All I can do is count on my fitness and experience to do well in the tournament.” Atlas will be bearing his own expenses for the event but the federation has promised to reimburse the cost of his trip if he manages to secure a place in the semi-finals. Meanwhile, Atlas is hopeful that his ban will be lifted soon so that he can start using the federation’s facilities. “I am hopeful after the meeting I had with the sports minister which assured me that my ban would be lifted soon. I will only focus on my performance after my ban reversal and will try to avoid controversies.”Agencies
India to miss a left-arm spinner at WC Monitoring Desk MUMBAI: India have missed a trick by failing to include a specialist left-arm spinner in their World Cup squad, says former India cricketer Mohinder Amarnath. Amarnath, now 60, was one of the architects of India's lone 50-over World Cup triumph in 1983, winning man of the match awards both in the semifinal and final to deny Clive Lloyd's West Indies a title hattrick. The Indian selectors chose off-spinners Harbhajan Singh and Ravichandran Ashwin and leg-spinner Piyush Chawla in the final 15-man squad for the Feb 19-April 2 tournament. While Amarnath, by and large, is happy with the squad, he felt left-arm spinner Pragyan Ojha's inclusion would have added variety.
Dutch coach arrives tomorrow LAHORE: Dutch coach Michael Deen will arrive in Pakistan on February 2. He would meet with President of Pakistan Hockey Federation (PHF) Qasim Zia and Secretary PHF Asif Bajwa to decide about his future,. According to spokesman of PHF, federation wants to sign the contract with Michael as Coach of national team. He said that Pakistan Hockey team is second team of world which has qualified for Olympics. He mentioned that all best hockey coaches of the world want to be appointed as coach of Pakistani team.Online
WC skipper naming due on 4th: PCB
COLOMBO: West Indies' Adrian Barath (R) plays a shot as Sri Lanka's captain Kumar Sangakkara looks on during the first of their three one-day international cricket matches.-Reuters
Rain clean bowls Lanka-WI ODI COLOMBO: West Indies' Adrian Barath cracked a maiden century before the first oneday international against Sri Lanka was abandoned due to heavy rain in Colombo. The 20-year-old opener limbered up for the World Cup with an impressive 113, which included two sixes and eight fours, to help the West Indies post a competitive 245-5. But a downpour during the interval drenched the Sinhalese Sports Club and prevented Sri Lanka from coming out to bat. Barath stabilised the innings after the tourists lost two wickets for 42 runs, including that of hard-hitting Chris Gayle,
adding 165 for the third wicket with Ramnaresh Sarwan, who hit a solid 75. The West Indies were well set for a final onslaught after reaching 206-2 in 43 overs, but paceman Lasith Malinga (3-51) restricted the tourists with three quick wickets, including those of Sarwan and Barath in the same over. The World Cup, co-hosted by India, Sri Lanka and Bangladesh, starts on February 19. The West Indies made a poor start after winning the toss as Gayle (four) was caught behind off paceman Nuwan Kulasekara in the day's fourth over. Darren Bravo also did not last long,
making eight before being run out. Barath, playing only his sixth one-dayer, went for big shots after completing his halfcentury as he hauled part-time spinner Tillakaratne Dilshan and seamer Angelo Mathews over mid-wicket for sixes. Sri Lanka had to wait for more than 30 overs to claim another wicket as Barath and Sarwan dug in. Malinga broke the stand when he had Sarwan caught by Chamara Kapugedera at longon after the batsman had hit one six and four boundaries in his 100-ball knock. The same combination accounted for Barath a ball later.-APP
Palestine, Malaysia soccer teams arriving LAHORE: Two foreign football teams will tour Pakistan in March as PFF will do what the country's major sports like cricket and hockey have failed to do - bring international teams to the country. Palestine National team will face Pakistan in the Lahore Test on 1 March, followed by Karachi encounter on 4 March. Later on, Pakistan Olympic Team will collide with Malaysian Olympic Team in the second leg of London Olympic Qualifiers on 9 March. "When no one was ready to
visit Pakistan, PFF hosted the Afghanistan women team in third National Women Champonship in 2007 and Iran's Malavan Bandar Anzali of Iran in the fifth edition of same event two years later, and now Palestine and Malaysian team would tour Pakistan," said Pakistan Football Federation (PFF)'s President Makhdoom Syed Faisal Saleh Hayat who is also AFC Executive Committee member. Pakistan has a great tradition of sports and Pakistani sportsmen have excelled interna-
tionally wth hockey team winning the World Cup four times and Cricket team lifted the World Cup Cup once. Pakistan football team put up brilliant display with record four golds in South Asian Games. It is unfortunate the security situation in the country has badly affected sports in Pakistan. "Its really unfortunate for Pakistan sports that it is currently completely isolated. I understand that it's a big drawback for our players and organizers which is discouraging."-Online
Osasuna hit Real Madrid title dream MADRID: Real Madrid's title hopes were left hanging by a thread after Jose Mourinho's side suffered a shock 1-0 defeat at relegation-threatened Osasuna on Sunday to fall seven points behind league leaders Barcelona. It was Mourinho's second league defeat in charge as Madrid-born striker Javier Camunas scored the decisive goal on 62 minutes to seal a historic win for Osasuna and deal Real's title aspirations a hammer blow. Even Togalese debutant Emmanuel Adebayor, on loan from Manchester City, could not inspire Real who have now dropped 12 points on the road and have an uphill task to dethrone double champions Barcelona. Barcelona made it a recordequalling 15th consecutive league win with a 3-0 victory at Hercules on Saturday to match the long-standing record of the great 1960-1961 Real Madrid side. Real were under pressure to respond and had a star-studded substitutes' bench with Xabi Alonso, Kaka and new signing Adebayor ready to be called into action. Adebayor joined Real on loan from Manchester City on Thursday but had to wait for his debut with French forward Karim Benzema retaining his place after scoring the winning goal in his last two matches.Agencies
ISLAMABAD: Chairman Pakistan Cricket Board (PCB), Ijaz Butt said on Monday that the captain for the World Cup Squad will be announced on February 4, 2011. Talking to media in New Zealand, Butt said that the captain will be announced a day before the last One Day International (ODI) with New Zealand. He said that Pak-India cricket ties are likely to resume after the interval caused by Mumbai attacks.
Butt said the talks are underway at government level and a series is expected at the end of this year at the neutral venue of England. He added that the new central contract will be announced soon. He also said that new players including Ahmed Shahzad and Asad Shafiq will also be included in the central contract. Earlier, former captain Shoaib Malik supported Shahid Afridi as the World Cup captain, saying that he can serve the team best.-Aagencies
BCCI backs Bangalore for Ind-Eng match MUMBAI: The Indian cricket board (BCCI) has recommended Bangalore`s M Chinnaswamy Stadium as an alternative venue for next month`s World Cup Group B match against England, BCCI secretary N Srinivasan said. Kolkata was dropped on Thursday after an
International Cricket Council inspection team said Eden Gardens was under-prepared due to a delay in renovation work. "The BCCI has recommended Bangalore as an alternative venue (for the Feb. 27 match)," said secretary N Srinivasan in a statement.Online
Malik champions Afridi as captain Monitoring Desk KARACHI: Former Pakistan captain Shoaib Malik has backed Shahid Afridi as the man to lead the team in the World Cup starting next month. Malik, who was left out of the 15-man squad announced for the mega event in which the Pakistan Cricket Board (PCB) did not name the captain, said that a change would not benefit the team. While Afridi has been tipped to retain the captaincy, the PCB will make a formal announcement after weeks of speculation that the all-rounder may be replaced by Test skipper Misbahul Haq. The PCB decided against naming the leader when it announced the final World Cup squad with former cricketers lashing out at the decision saying that it was not
in the best interest of the team. Malik, too, believed that Afridi is the right choice to continue leading the team. “Afridi should be retained as captain for the World Cup,” said Malik. The change in captaincy at this stage is in no way in the interest of the team.” The former captain also dismissed the notion that Misbah’s fine form made him deserving to lead the side in the tournament. “It’s not necessary to appoint him [Misbah] as captain on the basis of his Test performance,” said Malik. “Misbah’s form may get affected with the added burden of captaincy which may hurt the team combination.” Meanwhile, Malik was relieved after he was named the captain of the Punjab team in the upcoming Pentangular Cup.
What’s with Younis & Misbah? W E L L I N G T O N : Christchurch witnessed a quintessentially Pakistani style of play: start slow, build a base, retain wickets, and explode in the end. It used to be the norm in 1980s before Saeed Anwar and Aamir Sohail changed that in the 90's, but once again, without a settled opening pair, Pakistan are returning to the roots. Not many teams can launch into a frenzied and mesmerising attack in the end overs like Pakistan can. Abdur Razzak swinging like there is no tomorrow, Shahid Afridi swinging like there is no next moment, and the scarred opposition living on the boundary's edge, waiting for the violence to end. As Luke Woodcock put it: "I've seen a bit of it on TV but to actually see it first hand, playing against him [Afridi] for the first time, it was a pretty special knock and he took the momentum away from us." Mohammad Hafeez hit his maiden hundred in his 61st game, Ahmed Shehzad dazzled
briefly in the second ODI, and Umar Akmal showed glimpses of the imperious flair he possesses. But what about Pakistan's experienced middle order? For long, Younis Khan's critics have said that he bats in ODIs like he is batting in a Test and vice versa. For long, Misbah-ul-Haq's critics have said that he bats in all formats like he is batting in a Test. Their supporters will cite Christchurch as evidence of their effectiveness. Let Younis and Misbah play the middle overs, preventing a collapse, and set the base for the marauders to take over. The critics want the same thing but they wonder why the holding job can't be performed with more purpose? Can't Younis and Misbah take singles, keep the strike rotating, and score at a decent pace? Their career strike rates are just over 75, which is actually ideal for the job they do, but the criticism, especially against Misbah, is that he only makes up towards
the end of his knock. The sedate approach at the start increases pressure on the others and triggers self-destructive ways or so the argument goes. It will be interesting to watch their approach in the next game. Their opposition, New Zealand, are experimenting, searching for the ideal line-up before the World Cup. The biggest puzzle is the position of Brendon McCullum. On the flat-beds of the subcontinent, considering that he is a regular Test opener, would it be better to play him at the top or keep him for later? Martin Guptill has been in great form, and Jesse Ryder is best while opening, so why not plug McCullum lower down to make use of the batting Powerplay? And what about Jamie How, who looks good in most innings but never carries on? He will get one more chance in the next game, this time in the middle order, and he needs to grab it.
Tim Southee and Hamish Bennett are the two chosen ones for the fourth ODI. It was slightly strange to see New Zealand make Bennett bowl against the breeze in the last game. Will they give him a chance to go down wind and try and use his pace to unsettle the batsmen? Luke Woodcock, who had a good debut, lost out as Vettori and Nathan McCullum return. The pressure is on Nathan to put in a good performance to keep Woodcock behind in the pecking order. Napier, the venue of the fourth ODI, has been a burial ground for the bowlers and if the pitch remains flat and full of runs, Pakistan hold the edge over New Zealand. Jesse Ryder has a great strike-rate (95.41) in ODIs but he has a better grasp of how to build an innings in Tests. If he can reprise that temperament in ODIs, his transformation into a world-class ODI player would be complete. The back-
lift is minimal, the foot work precise, and the shot-selection is maturing rapidly. Ryder can be the backbone of this line-up in the World Cup. Umar Akmal has the shots, but does he have the temperament? There is a thin line between arrogance and confidence and he seems to be forever living on that edge. Pakistan would hope that Umar can fast track the transformation from boy to man and be more consistent. Waqar Younis, Pakistan's coach, said there would only be one change: will the spinner Abdur Rehman get a chance, or will they try to bring in Asad Shafiq or Shoaib Akthar? Pakistan (probable): 1 Ahmed Shehzad, 2 Mohammad Hafeez, 3 Younis Khan, 4 Misbah-ul-Haq, 5 Umar Akmal, 6 Kamran Akmal (wk), 7 Shahid Afridi (capt), 8 Abdul Razzaq, 9 Abdur Rehman/Sohail Tanvir, 10 Umar Gul, 11 Shoaib Akhtar/Wahab Riaz.
How and Kane Williamson will both play in the middle order. Bennett and Southee will be the seamers while Vettori and Nathan McCullum are the spinners in the XI. New Zealand (probable): 1 Jesse Ryder, 2 Martin Guptill, 3 Ross Taylor , 4 Scott Styris, 5 Kane Williamson, 6 Jamie How, 7 Brendon McCullum (wk), 8 Daniel Vettori (capt), 9 Nathan McCullum, 10 Tim Southee, 11 Hamish Bennett. Seven of the last 10 ODIs in Napier have been won by the side batting first. Afridi's five sixes in the third ODI took his tally to 285, the record for most sixes in onedayers. Sanath Jayasuriya is second with 270. It was also the 16th time that Afridi hit five or more sixes in an innings. Jayasuriya did it 11 times. Younis Khan averages only 29.30 from 18 games against New Zealand. In New Zealand, he averages 18 from three games.-Online
International & Continuation
Tuesday, February 1, 2011
OPEC worried about Egypt, but not acting yet LONDON: OPEC is concerned by unrest in Egypt but sees no need for an immediate boost in its output as there is no shortage of oil, the group's top producer Saudi Arabia and its leading official said on Monday. Oil prices have spiked due to tensions in Egypt. Brent crude is near $100 per barrel on fears instability could spread through the Middle East, which together with North Africa extracts over a third of the world's oil. The unrest spurred the oil price rally, which was already gathering pace after a bigger than expected jump in demand due to the global economic recovery. On Monday, Brent traded at $99 per barrel and US crude hovered near $90. OPEC Secretary-General Abdullah al-Badri told reporters in London the Organization of the Petroleum Exporting Countries did not think it was necessary to call a meeting before its next planned gathering in June, But he added that the mood was changing due to the situation in Egypt. "Before the Tunisian and the Egyptian crisis, we don't see it (an extraordinary meeting). But now, I don't know if this crisis will escalate. I hope not," Badri said when asked about chances for an OPEC meeting before June. Badri confirmed OPEC ministers and consumers would discuss oil output policy on the sidelines of an international energy conference in Saudi Arabia on Feb.
22, but said a formal decision there was unlikely. "Riyadh is not an OPEC meeting. Nobody asked me to prepare anything, so I really cannot tell you anything," he said. "We don't want 2008 to be repeated," Badri said referring to July 2008 when oil rose to $147 a barrel. "OPEC is always ready to meet when we see the market is out of balance," he said adding he had not yet discussed unrest in Egypt within OPEC. NAIMI SAYS MARKETS BALANCED The head of the International Energy Agency Nobua Tanaka, told Reuters on Saturday the West's energy watchdog wanted OPEC to be more flexible in the face of unrest in the Arab world and act quickly if needed. Saudi Oil Minister Ali alNaimi told a conference in Geneva he thought the oil market was balanced in the short-term. "We cannot put oil in markets that don't need it." "The kingdon realises we have an important role to play in promoting stability in the world's oil market," he said. "The kingdon has invited more than 80 ministers from around the world to come to Saudi Arabia next month to sign the IEF's new charter." The International Energy Forum is the world's top gathering of energy ministers, from both consuming and producing nations. "This effort will take the producer-consumer relationship to yet a higher level,"
Naimi said referring to the February 22 IEF meeting in Riyadh. He said he was sticking to his preferred price range of $70-$80 per barrel and thought that maintaining spare production capacity was a powerful tool to balance the markets. "It is our ongoing policy to maintain at least 1.5-2.0 million barrels of spare capacity to be used whenever and wherever there is a need. Today it stands at about 4 million barrels per day," Naimi said. Badri said he did not expect the unrest in Egypt to affect oil flows through the Suez canal or the Sumed pipeline. "I think that the flows will continue," he said. He told Reuters Television that OPEC had not received any calls from US President Barack Obama asking the group to pump more. "I think Mr Obama will talk to the presidents of my countries. He will not talk to me," he said. "We are watching the situation (in Egypt) because there is some good quantity (at stake) and if there is a problem there we have to do something," Badri said. "Inventories are very high and our spare capacity is also 6 million barrels. I don't see why we have this high price," he said adding that he would support "moderate" regulations to curb speculators in the market. "We cannot eliminate speculation but we should have some moderate control," Badri said.-Reuters
German retail outlook hopeful despite Dec fall BERLIN: German retail sales posted a surprise fall in December, their fourth decline in the last five months, but economists remained hopeful of robust rates of consumption in 2011 given low unemployment and rising wages. The Federal Statistics Office said on Monday retail sales declined by 0.3 per cent monthon-month compared to a consensus forecast for a robust 2.0 per cent rise and following a sharp 1.9 per cent fall in November. On an annual basis, sales declined by 1.3 per cent against expectations for a 1.1 per cent increase. For the year as a whole, however, retail sales pushed up 1.2 per cent, their strongest annual gain since 2005. "With only one single month of growth, German retail sales have been on a downward trend since August," said Carsten Brzeski, an economist at ING. "Nevertheless, despite recent disappointments, private consumption could become the growth surprise of 2011." German retail sales figures, based on data from seven states, are notoriously volatile and often revised in subsequent months. Despite unusually cold winter weather in December, Germany's HDE retailers association had described the Christmas holiday season as "a big leap forward" in terms of sales. Monday's data was therefore surprisingly weak, especially given the strength of recent consumer sentiment data. A report from research group GfK last week showed German households were more willing to splash out money on expensive big-ticket items like flat screen TVs than at any time since December 2006. Income expectations, however, have dipped somewhat due to the sharp surge in costs for food and energy, posing perhaps one of the biggest risks to consumption this year.-Reuters
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public except to voice confidence in its strong internal safeguards, with warheads kept separate from delivery vehicles. National Security Council spokesman Tommy Vietor referred to Obama's assurance at last spring's Nuclear Security Summit that he felt "confident about Pakistan's security around its nuclear weapons program." Vietor noted that Obama has encouraged "all nations" to support negotiations on the fissile cutoff treaty. "The administration is always trying to keep people from talking about this knowledgeably," said David Albright, president of the Institute for Science and International Security and a leading analyst on the world's nuclear forces. "It's hard to say how much the US knows," said Hans M Kristensen, director of the nuclear information project at the Federation of American Scientists and author of the annual global nuclear weapons inventory published in the Bulletin of Atomic Scientists. "Probably a fair amount. But it's a mixed bag - Pakistan is an ally, and they can't undercut it with a statement of concern in public." Four years ago, the Pakistani arsenal was estimated at 30 to 60 weapons. "They have been expanding pretty rapidly," Albright said. Based on recently accelerated production of plutonium and highly enriched uranium, "they could have more than doubled in that period," with current estimates of up to 110 weapons. -Agencies
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Senator Ishaq Dar said they have model of 2008 when the PPP and PML-N were able to reduce expenditure by Rs 270 billion through corrective measures and that could be applied in the present situation. He said he has asked the government to give its proposals and then the PML-N would come up with its point of view.He assured that the PML-N will fully cooperate with the government as far as revenue generation, broadening of tax net and containing fiscal deficits are concerned. He said the two committees would be meeting on Wednesday to take up the ten point agenda given by the PML-N. Law Minister Babar Awan said the Government will come up with its vision for economic reforms at the Wednesday meeting.
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democratic government it has to cater to the difficulties that people were facing due to economic constraints. He said that the Government was taking all the political forces and other stakeholders on board on all economic measures that had to be taken under prevailing economic scenario. He said that the democratic dispensation had taken a number of measures to streamline and stabilise the economy that include giving more autonomy to State Bank of Pakistan, regulating Government borrowings, necessary amendments in Banking Companies Ordinance 1962. He said that the Government had to take bold even though politically unpopular decisions in order to put the economy back on track. President said that due to war against terror and the worst-ever floods in the history, the country's economy had to suffer major blows and it needed international assistance by way of creating economic opportunities for the people. He said that the Government was cognisant of the need of reforms in the various areas including Public Sector Enterprises and power sector and was taking appropriate steps in this regard. He said that the Government was moving aggressively to cut costs on the expenditure side and curtailing its non-salary current expenditures. He said that federal government had also decided to similarly enforce austerity measures. The reform agenda, the President hoped, though initially creating difficulties and hardship for the ordinary citizens would help to provide much needed support to our economy. President also noted that Government was pursuing a policy of elimination of general subsidies and replaced the same with targeted subsidies for the poor and vulnerable communities alone.
ministry Monday. One point agenda with regard to accountability was reviewed in the meeting. The matter about details of the persons who got their loans waived was deferred till Wednesday. Talking to media men after the meeting law minister Babar Awan said both the sides had evolved consensus on each other viewpoint and accountability laws had been reviewed at length. Names have been sent to speaker National Assembly in connection with reorganization of election commission. Regarding the hike in the prices of sugar, a judicial commission had been constituted and Justice (Retd) Sardar Raza would be head of this commission, he stated. PML-N senator Ishaq Dar said the commission constituted with respect to upsurge in the prices of sugar had been directed to present its report within 35 days. The meeting reviewed Accountability bill at length, he added. The previous four Ehtesab laws were also reviewed, he said adding "we want such an Continued from page 1 accountability system that no one stands exempted from it". No #6 Only one agenda came under discussion in the meeting while $99.97, up 55 cents. The day's high was the highest since Brent the remaining points of agenda would be deliberated over in the front-month crude hit $100.31 on Oct. 1, 2008. -Reuters meeting taking place on Wednesday. "There is no agenda of talks Continued from page 1 No #7 between PML-N and IMF but IMF team will meet chief minister way to office, on Kohat Road, Garhi Qamar Deen while taking Punjab today", he pointed out. -Agencies U-turn a suicide bomber blew himself up in front of his vehicle Continued from page 12 No #3 killing DSP Rasheed Khan, his driver, his guard and a passerby on According to the paper, Barrett offered an initial investment of the spot while injuring 15 other people. The injured have been 3 million Euros. We have been working on this for a year-and-a- shifted to Lady Reading Hospital where according to hospital half, said Barrett. We want to export used trucks from Ireland, sources the condition of several injured is precarious. According rebuild them using local people and sell them on. to police officials, the suicide attack has damaged the three vehiThe Harris group has received the support of Naghmana cles completely. The Kohat Ring road has been blocked for all Hashmi, the Pakistani ambassador to Ireland. Barrett said the pro- type of traffic. On the other side, DCO Peshawar Siraj Ahmad told posal could not proceed without Pakistani government support. the media that suicide bomber was on foot and he blew himself "The ball is in their court now, he said. when the DSP's vehicle was taking U-turn. A new Pakistani government policy to overhaul the industry He said that around 6 to 7 kilogram explosive material was used provides that trucks should be upgraded to European quality stan- in the bomb. He further told that the bomber was about 15 to 17 dards. We could do the testing. We would be open to doing it on a years old. The head and other body parts of the suicide bomber public-private partnership with the government, said Barrett. As have been found. Meanwhile, President Asif Ali Zardari, Prime for opening dealerships, we will have to see what reaction we get Minister Syed Yousuf Raza Gilani, Chief Minister Khyberfrom the government. -APP Pakhtunkhwa Amir Haider Khan Hoti, Governor Awais Khan Ghani and other political leaders have vehemently condemned the Continued from page 12 No #4 accountable who indulge in corrupt practices. He hoped that the suicide attack. Interior Minister Rehman Malik has sought the draft bill for Accountability would be ready soon.To a question, report of the sad incident. -Agencies
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economies like India, China and Brazil should play a greater role in humanitarian relief, Tadateru Konoe said. Pakistan is still reeling from floods six months ago that have left 11 million people homeless and devastated hundreds of thousands of hectares of crops in the traditional food-basket regions of Sindh and Punjab. Konoe, president of the International Federation of Red Cross and Red Crescent Societies (IFRC), said some agricultural areas were still submerged, and resulting price rises and growing food insecurity could be destabilising. "If the crops may be lost for successive years; it may develop into some sort of social unrest and political turmoil. That is what the president was very much worried about," Konoe told Reuters, referring to Pakistan's President Asif Ali Zardari. "I don't how long they can stand this type of situation but it may be utilised by political opponents to criticize the government, so a minor thing may become a big thing like the situation in Tunisia," he said in an interview. Pakistan is saddled with a long list of troubles including a Taliban insurgency, rampant poverty, corruption and power cuts. Inflation is fast becoming one of the most potentially explosive problems for the unpopular government.The floods have fuelled increases in the price of food such as vegetables, making it harder for ordinary people to survive.Konoe said Zardari had expressed concern over the problem of food insecurity while the Red Cross head was on a visit to Pakistan in October last year."The president of Pakistan said 'we can manage for the time being, but if the situation continues like this, for some more time, we may enter into difficult times'. He didn't specify how long they could manage," said Konoe. -Reuters
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of the government elected in 2008 has reduced the fiscal and, in particular, the external current account deficit, increased GDP growth, restored foreign exchange reserves, and reduced inflation. World Bank CPS report said that the reforms have also resulted in a significant increase in power tariffs along with an automatic pass through of international fuel prices. "The government still has more work to do in a difficult security environment to further reduce inflation and the fiscal deficit, particularly to eliminate the large losses of public sector entities in the power, transport and manufacturing industries, and increase public revenues through the introduction of a value added tax and better tax administration", the report added. It said that the country's top leadership is cognizant of this and is committed to continue spearheading reforms in these areas. The WB CPS said that Government's strategy focuses on regaining macroeconomic stability after the economic crisis and on structural reforms required to support the recovery of strong and sustainable growth. It said that lessons learned from the previous CAS, the CPS reflects lessons learned from the Bank's past engagement in Pakistan. In particular, the need to adapt to a rapidly changing political and security environment during implementation of the FY06-09 CAS highlights the need for flexibility. World Bank said that it CPS seeks to support Pakistan to address some of the major institutional, policy and financing constraints on its capacity to achieve and sustain high economic growth rates, to manage conflict and to improve the social indicators and capacity of its population. The Report said that the World Bank Group's support to Pakistan will be organized around four pillars: improving economic governance, improving human development and social protection, improving infrastructure to support growth and improving security and reducing the risk of conflict.-APP
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LPG in international market is a good omen for the customers. Chairman Ogra has held out assurance the new prices will stand implemented from February, 3 all over the country. Earlier, chairman of FPCCI Standing Committee on LPG and All Pakistan LPG Distributors Association (APLDA) Abdul Hadi Khan urged the reduction in the prices after the international price of liquefied petroleum gas (LPG) has been slashed by $111 to $813 per ton "Saudi Aramco Contract Price (CP) has been slashed to $813 per ton for February 2011 and local producers should also cut their prices to pass on benefit to consumers", he noted. Hadi said that LPG price had crossed Rs93000 per ton as Saudi Aramco CP had touched $925 per ton last month, thus curtailing the sale of LPG by 60 per cent in the local market despite chilled weather. He suggested the government to develop a "price mechanism" for LPG in consultation with producers, marketing companies and representatives of authorised distributors and FPCCI to provide relief to more than 50 million consumers. Hadi noted that it was necessary to withdraw a levy of sales tax on LPG import to create a healthy competition in the local market.
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services to foreign missions. "I can confirm that PTA has asked us to stop all BlackBerry services to foreign embassies and high commissions," a senior official at a mobile company, who declined to be identified, told Reuters. Another industry official at another mobile company also confirmed receiving the instructions."There are some other issues as well, mostly relating to BES (BlackBerry Enterprise Server), which we are trying to resolve in consultation with the PTA," he said. A PTA spokesman was not available for comment. BlackBerry maker Research In Motion has been buffeted by demands for access to its encrypted data from several countries, including India and United Arab Emirates, worried by security and social mores. Pakistani industry and government officials say that the government had never allowed BlackBerry services to foreign missions and inbound roamers when the services were launched in Pakistan in 2005. The government also initially banned the more secure BlackBerry Enterprise Server (BES) services in Pakistan. BES allows users to send and receive secure email and messages, which is difficult for governments to intercept and read. However, the instructions have since been flouted by all five Pakistani mobile operators. It was not clear why the government allowed them to do so or why it was acting now to enforce the restrictions.An industry source said that the government had asked all operators in the country to enforce the restrictions."The most critical issue is the provision of BlackBerry services to the foreign embassies, missions and high commissions," said the source. "Therefore, all the operators have agreed to close all BlackBerry connections provided to them by January 31," he said, adding discussions would be held with the PTA to gain more time on the provision of BES to local customers as well as BlackBerry services to incoming roamers. If fully enforced, the restrictions would mean no BlackBerry services for many of the multinational companies and aid groups, who use the BES service rather than the Blackberry Internet Service, or BIS, which is much less secure. -Reuters
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L Labrador. Mr. Stephen Engelken, Charge d' Affairs, Thomas A Alexander, senior Counsel (Majority) Committee on Oversight, Adam Pl Fromm, Counsel (Majority) Director of Member Services and Scott Lindsay, Counsel (Majority) Committee on Oversight, were also present. Briefing media spokesperson to the President Farhatullah Babar said that matters relating to Pak-US bilateral relations, mutual cooperation, fight against militancy, ROZs and security situation in the region among other related issues were discussed during the meeting. Babar said the Congressmen also raised the matter of Raymond Davis, involved in the killing of Pakistani nationals in Lahore, with the President. The President said that he appreciated their concern but the matter was already before the courts. It would be prudent to wait for the legal course to be completed, he said. -Agencies
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"We don't want life to go back to normal until Mubarak leaves," Israa Abdel-Fattah, a founder of the April 6 Group, a movement of young people pushing for democratic reform. If Egypt's opposition groups are able to truly coalesce - far from a certainty for movements that include students, online activists, old-school opposition politicians and the fundamentalist Muslim Brotherhood - it could sustain and amplify the momentum of the week-old protests. Governments, airlines and tour operators worked together on Monday to fly their nationals out of Egypt where protesters pressed their campaign to topple President Hosni Mubarak. The US embassy in Cairo said it began evacuating US nationals who wish to leave to locations in Europe. US Assistant Secretary of State for Consular Affairs Janice Jacobs said 2,400 US citizens had asked for help to leave Egypt. Up to 52,000 Americans are registered with the embassy in Cairo. An embassy spokesman was quoted as saying by Egyptian state media that a total of eight planes were scheduled to leave on Monday evacuating 1,000 passengers. Witnesses reported scenes of chaos at Cairo Airport on Sunday, with many people, including Egyptians, scrambling to get on a decreasing number of scheduled flights. "Access to the airport was very difficult. On a 20 kilometer route we had to pass through 19 checkpoints, 10 by the army and the others by citizens," a Greek man arriving in Athens at around 1300 GMT told state broadcaster NET TV. The German Foreign Ministry issued a travel warning late on Sunday for Cairo, Alexandria and Suez, but described the situation at Red Sea resorts as calm for the moment.-Reuters
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Mufti Ferozuddin Hazarvi, Babar Leghari, Sadique Abu Bhai, Sardar Aamir Bhutto, Waqas Malik, Jahangir Khanji, Dansha Uncle Sarya, Kamran Deehan and Ghulam Qadir Malkarni under 18th amendment. The notification has been issued in this regard. Under 18th amendment the number of advisors has been decreased from 17 to 5. Former Advisor to Chief Minister Sadique Abu Bhai has confirmed the removal of the following Advisors and said that now Rashid Rabbani, Qaiser Bangali, Izhaar-ul Hasan and Imamuddin are Advisors to the Chief Minister. -Online
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technology bellwether Intel Corp fell 1 per cent to $21.24 after cutting its first-quarter revenue forecast by $300 million due to costs for correcting a design flaw in one of its chips. "It doesn't have any impact for the balance of the sector. This is a very Intel specific thing," said Nicholas Aberle, semi-conductor analyst at Janney Montgomery Scott in San Francisco. "It's a negative for Intel because it has to clean up the mess, but there is no competition for Intel for this type of chip." The M&A activity, typically a sign of confidence in the market, included Alpha Natural Resources, which fell 7.5 per cent to $53.51 after it agreed to a $7.1 billion deal to buy Massey Energy Co, which would create the second largest US coal miner by market value. Massey shares jumped 10 per cent to $62.94. The merger and earnings action offset the fears of political unrest spreading to oilproducing Middle Eastern countries.-Reuters
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in bank reserve ratio, price controls and the introduction of the country's first-ever property taxes. Water companies and other beneficiaries of heavy government investment have been rising over the past few sessions following media reports of more government spending in some sectors.-Reuters
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The broader Topix shed 1 per cent to 910.08. "Momentum has been falling... and in the short term it has broken the support of the 50-day moving average (of 10,277) and is looking to test the 200day moving average at 9,871," said Jamie Coutts, a technical analyst at BGC Securities. Volume was moderate, with 2 billion shares changing hands on the Tokyo Stock Exchange's first section, in line with last week's average daily volume of 1.9 billion shares.-Reuters
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Rekodiq Case:
B'stan unhappy on mine study ISLAMABAD: The Balochistan government's top lawyer on Monday apprised the Supreme Court that they were not satisfied with the feasibility report over Rekodiq copper and gold mining project as it was incomplete. Advocate General Balochistan Salahuddin Mengal said that a committee comprising geologists were looking into the report afterwards a decision would be taken in this regard. A four-judge bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali, Justice Ghulam Rabbani and Justice Khalil-ur Rehman Ramday resumed hearing of the pleas. Explaining provincial government's further position over the issue, the Advocate General said Tethyan Copper Company had to conduct survey over an area of 6square kilometer. He said there was no laboratory to determine ratio of gold and copper reserves in the Chaghi area where Rekodiq mines are located. He also admitted that safe trans-
portation was difficult due to security situation in the province. Chief Justice observed that the feasibility report was with the provincial government since October last year and they were not sharing it with the apex court. Raza Kazim, counsel for Maulana Abdul Haq, resumed his arguments and said that Rekodiq mining case was the biggest one than Pakistan Steel Mills corruption case. He contended that about 30,000 square kilometers was given to TCC under a joint venture agreement in which the provincial government surrendered its authority. He said Tethyan Copper Company (TCC) had not a national company till the year 2000 in which it was registered, but subsequently, he had no information about it. Justice Muhammad Sair Ali told him that he had filed plea against TCC and not against TCCP. Kazim said that TCCP had been trying to hold its monopoly as neither the provincial government nor the national companies would interfere. He said they had expired
licenses but holding possession of EL25 and EL26. Justice Khalil-ur Rehman Ramday expressed his concern over the language used in the joint venture agreement. Tariq Asad advocate, a petitioner, appeared in person and said that no foreign company would be granted license unless it was in accordance with the provisions of Mineral Rules. He said in joint venture agreement, it was not mentioned that government of Balochistan was entitled to 25 per cent share out of he total profit. He argued that prospecting license could not be issued for an area more than 10 square kilometer but 50 square kilometer area was given each in total 10 licenses. The bench directed him to make a performa of his relevant arguments over the constitutional provisions and other related laws which had been violated in the issue and submit with the bench on Tuesday. The counsel would resume his arguments on Tuesday. -APP
Petition filed against handing over of Davis
PR land scam
Malik says govt not soft on Davis
SC tells responders to explain
ISLAMABAD: Interior Minister Rehman Malik said that appropriate legal action would be taken against US national Raymond Davis. Media reported that Minister has urged the media to avoid assumptions as the government will not be lenient in seeking any action according to the law. Malik said that the Davis case is subjudice so everybody should wait for a report from the Punjab government. He said once the status of Raymond Davis is confirmed the government would take action accordingly. The Interior Minister welcomed the statement of Indian Home Minister P Chidambaram in which he hinted at sharing of information with Pakistan in Samjhauta incident. He said it is a good omen for Pakistan, adding nation wants to
know the culprits of the incident. He further said that Islamabad is in contact with Delhi for peace and order in Balochistan. Meanwhile, a petition has been filed in Supreme Court seeking to stop the possible hand over of US national Raymond Davis to Washington. Barrister Zafarullah submitted the petition in apex court and said that the accused US national was responsible for the murder of three Pakistani nationals. He, therefore, pleaded that Davis should not be given any kind of immunity. US national Raymond Davis shot dead two persons on Thursday last in Lahore. He is now in police remand for six days. The petitioner made federal and provincial governments as well as IG Punjab as parties in his petition. -Agencies
Dar says meeting with Govt on agenda tomorrow
Accountability for all: PML-N ISLAMABAD: PML-N's financial wizard and close confidant of party leader, Senator Ishaq Dar has said that they are working with the government and other parties for preparation of a comprehensive Accountability Law which would provide for across the board accountability of all institutions. Talking to media persons here Monday along with Law Minister Babar Awan, Ishaq Dar said the PPP and PML-N committees today discussed single item agenda for accountability as corruption, and loss making State enterprises are priorities to get out of the economic crunch. He said in the past there were different laws for accountability of politicians, bureaucrats and for
JC to probe sugar price hike scam ISLAMABAD: PML-N and economic team of government have decided to set up judicial commission under Justice (Retd) Sardar Raza to probe into hike in sugar prices. The 4th round of ongoing talks in respect of 10-point agenda of PML-N took place in finance See # 2 Page 11 other organs of the state. Their effort is to have one law to make all See # 4 Page 11
Irish trucks soon to hit Pak roads LONDON: Ireland's largest dealer and distributor travelled to Pakistan for meetings with state officials over a proposal to build a truck manufacturing facility, reports The Times. The paper said Robert Harris, the millionaire trucking magnate, is in negotiations with the Pakistani government to set up a business that would import used Irish trucks into the Asian country, to be reconditioned and sold to local companies. Senior executives from the Harris
group, Ireland's largest truck dealer and the distributor here of Hino, Iveco and Isuzu vehicles, travelled to Pakistan last week for meetings with state officials. Mark Barrett, its tender manager, presented Pakistani government officials with a proposal to build a manufacturing facility. Harris also wants to set up a network of truck dealerships in Pakistan, as well as building a testing centre for used trucks. See # 3 Page 11
ISLAMABAD: Supreme Court of Pakistan Monday observed that a number of respondents in a case relating to 141 acres leased out railways land in Lahore during former president Pervez Musharraf's regime, had nothing to contest as they did not file their replies, however, the apex court was giving them an opportunity to explain their position. A four-member bench comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Mohammad Sair Ali, Justice Ghulam Rabbani and Justice Khalil-ur Rehman Ramday resumed hearing of the case. The bench also accepted a plea of Mainland Hasnain for becoming a party to the case after the petitioners admitted that they would have no objection over its plea. Ali Zafar, counsel for the company, apprised the bench that they wanted to become a respondent in the instant case as they were the actual operator company and lessee. Attorney General Maulvi Anwarul Haq to bench's query replied that he had received the relevant record and would be submitting with the bench. Further hearing was adjourned for two-week. -APP
CAIRO: Demonstrators carry a banner showing the images of the five US presidents who were in power since Egypt's President Hosni Mubarak took office in 1981 until today during a protest. -Reuters
Pak N-arsenal tops 100: TWP WASHINGTON: Pakistan's nuclear arsenal now totals more than 100 deployed weapons, a doubling of its stockpile over the past several years in one of the world's most unstable regions, according to estimates by nongovernment analysts. The Pakistanis have significantly accelerated productionof uranium and plutonium for bombs and developed new weapons to deliver them. After years of approximate weapons parity, experts said, Pakistan has now edged ahead of India, its nuclear-armed rival, reported The Washington Post. An escalation of the arms race in South Asia poses a dilemma for the Obama administration, which has worked to improve its economic, political and
defense ties with India while seeking to deepen its relationship with Pakistan as a crucial component of its Afghanistan war strategy. In politically fragile Pakistan, the administration is caught between fears of proliferation or possible terrorist attempts to seize nuclear materials and Pakistani suspicions that the United States aims to control or limit its weapons program and favors India. Those suspicions were on public display last week at the opening session of UN disarmament talks in Geneva, where Pakistani Ambassador Zamir Akram accused the United States and other major powers of "double standards and discrimination" for pushing a global treaty banning all future production of
weapons-grade uranium and plutonium. While Pakistan has produced more nuclear-armed weapons, India is believed to have larger existing stockpiles of such fissile material for future weapons. Brig Gen Nazir Butt, defense attache at the Pakistani Embassy in Washington, said the number of Pakistan's weapons and the status of its production facilities were confidential. "Pakistan lives in a tough neighborhood and will never be oblivious to its security needs," Butt said. "As a nuclear power, we are very confident of our deterrent capabilities." Wary of upsetting Pakistan's alwaysfragile political balance, the White House rarely mentions the country's arsenal in See # 1 Page 11
'ISI links'
Indian Army Captain detained CHANDIGARH: An Indian Army Captain has been detained by police in Chandimandir Cantonment here for his interrogation in connection with his alleged links to Pakistani intelligence agency, ISI. Captain Shyam Sunder Ram had been detained for interrogation for his alleged links to a Hawala racket and the ISI, PTI quoted police sources as saying, however, army authorities declined to comment on the case. The Captain had been apprehended following the arrest of two alleged Hawala operators from Mandi and Shimla in Himachal Pardesh a couple of days back. After their interrogation, the police detained the Captain in Chandimandir Cantonment, which is the headquarters of the Western Command. Police sources said the Captain has been handed over to Himachal Police for its ongoing probe and his possible links to the racket and with ISI agents following arrests of alleged Hawala operators Amrik Singh and Bhagwandas. -Online
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