International Karachi, Wednesday, December 1, 2010, Zil Hajj 24, Price Rs12 Pages 12
Responding WikiLeaks
‘Musharraf has clear stance about Israel’
Microfinance Framework: Pak tops in regulatory ranking
See on Page 12
Zardari ends Lanka tour on high note
See on Page 12
CAA grounds Russian planes in Pak
See on Page 12
See on Page 12
PM says govt gave nod for operation
Economic Indicators Forex Reserves (19-Nov-10) Inflation CPI% (Jul 10-Nov 10) Exports (Jul 10-Nov 10) Imports (Jul 10-Nov 10) Trade Balance (Jul 10-Nov 10) Current A/C (Jul 10- Oct 10) Remittances (Jul 10-Nov 10) Foreign Invest (Jul 10-Oct 10) Revenue (Jul 10-Oct 10) Foreign Debt (Sep 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Oct 10) LSM Growth (Aug 10)
GDP Growth FY10E Per Capita Income FY10 Population
$16.85bn 14.17% $7.17bn $12.25bn $(5.08)bn $(533)mn $3.50bn $569mn Rs 411bn $58.41bn Rs 4863bn $203.80mn -3.85% 4.10% $1,051 171.19mn
Army to call shots in NWA Pledges to expose Benazir Bhutto's killers Says Wikileaks reports are unauthentic
Portfolio Investment SCRA(U.S $ in million)
164.15 Yearly(Jul, 2010 up to 29-Nov-2010) Monthly(Nov, 2010 up to 29-Nov-2010) 59.43 2.95 Daily (29-Nov-2010) 3796 Total Portfolio Invest (19 Nov-2010)
Special Correspondent/ Agencies
NCCPL (U.S $ in million)
FIPI (30-Nov-2010) Local Companies (30-Nov-2010) Banks / DFI (30-Nov-2010) Mutual Funds (30-Nov-2010) NBFC (30-Nov-2010) Local Investors (30-Nov-2010) Other Organization (30-Nov-2010)
1.15 4.07 -3.54 -0.21 -1.04 0.05 -0.49
Global Indices Index Close KSE 100 11,234.76 Nikkei 225 9,937.04 Hang Seng 23,007.99 Sensex 30 19,521.25 ADX 2,729.87 SSE COMP. 2,820.18 FTSE 100 5,554.68 *Dow Jones 11,005.19 *Last Updated 20:00 PST
Change 71.33 188.95 158.23 116.15 1.35 46.18 3.73 47.30
GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)
$.Price PKR/Shares 2.60 111.37 19.00 162.77 2.00 42.84 1.70 36.41 10.75 36.84
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
15-Nov-2010 15-Nov-2010 15-Nov-2010 29-Nov-2010 30-Nov-2010 30-Nov-2010 30-Nov-2010 30-Nov-2010 30-Nov-2010 30-Nov-2010 30-Nov-2010 30-Nov-2010 30-Nov-2010 30-Nov-2010 30-Nov-2010
12.86% 13.20% 13.30% 14.00% 13.39% 13.36% 13.60% 13.97% 14.09% 13.75% 13.80% 14.02% 14.32% 14.45% 14.65%
Commodities *Crude Oil (brent)$/bbl 87.07 *Crude Oil (WTI)$/bbl 85.29 *Cotton $/lb 117.21 *Gold $/ozs 1,384.70 *Silver $/ozs 27.62 Malaysian Palm $ 1,097 GOLD (NCEL) PKR 37,716 KHI Cotton 40Kg PKR 9,109 *Last Updated 20:00 PST Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)
Australian $ 82.00 Canadian $ 83.50 Danish Krone 14.50 Euro 112.20 Hong Kong $ 10.90 Japanese Yen 1.003 Saudi Riyal 22.77 Singapore $ 64.50 Swedish Korona 12.55 Swiss Franc 86.85 U.A.E Dirham 23.27 UK Pound 133.00 US $ 85.75
83.00 84.50 15.00 113.70 11.00 1.029 22.95 65.50 12.65 86.95 23.50 134.50 85.95
Inter-Bank Currency Rates Symbols
Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $
Buying TT Clean
Selling TT & OD
82.29 83.95 15.05 112.20 11.02 1.016 22.83 64.89 12.24 85.60 23.30 133.11 85.67
82.48 84.15 15.09 112.46 11.05 1.019 22.88 65.04 12.27 85.80 23.36 133.42 85.86
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
25°C 30°C 25°C 26°C 15°C 24°C
MIN
4°C 12°C 8°C 8°C -7°C 6°C
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SUKKUR: Prime Minister Syed Yousuf Raza Gilani cutting a cake to celebrate 44th founding day of PPP during a public gathering. -Online
Dealers, distributors margin fixed
RGST Bill
Ogra keeps POL prices unchanged
NA body meets today
Staff Reporter KARACHI: Where inflation is constantly on the rising trend, and prices of commodities skyrocketing, Ogra in an unexpected move on Tuesday stayed th petrloeum prices at the current level for the December, while Authority also fixed the margin for dealers and distributors. The current price of petroleum stands at Rs72.96 per litre whereas that of diesel projected at Rs78.33 per litre. The announcement came late Tusday night - as was expected due to the last day of November. According to analysts, this decision of keeping the prices
at the present level would indeed provide a sort of relief to masses, who were anticipating an increment in the petroleum products prices. Earlier in October, Ogra had increased the prices of petroleum products by more than five per cent - citing the rising trend in the international market and decided to pass on the effects to the consumers. The inflation estimates have since been revised up to 14.5 per cent for the current year because of disruptions in the supply of food items. It is relevant to mention here that State Bank of Pakistan Monday in attemp to curb down the inflation has also stepped up the discount rate.
YoY: urea down 0.4pc, DAP up 170pc
Fertiliser offtake rises 51pc in Oct Aamir Abidi KARACHI: Fertiliser offtake depicted a surge of 51 per cent YoY in October 2010 to 941k tonnes against 623k tonnes in same period last year, as water receded and dealers piled up inventories on expectation of RGST on fertiliser. According to the latest data released by National Fertilizer Development Centre (NDFC), urea sales marginally down by 0.4 per cent in the month of
October to 427k tonnes against 429k tonnes in the identical period last year. On the other hand, Diammonium phosphate (DAP) offtake remained encouraging during the period with the industry registering massive growth of 170 per cent on a YoY basis. DAP sales reached at 371k tonnes in Oct 2010, compared with 137k tonnes in October 2009. Average retail prices of See # 18 Page 11
Rice export seen at 4mn T this yr ISLAMABAD: Pakistan's top rice export body said Tuesday it aims to export 4 million tonnes in fiscal year 2010/11, about 1 million tonnes more than previous estimates made after destructive floods in August. Irfan Ahmed Sheikh, chairman of the Rice Exporters
Association of Pakistan (REAP), said total rice production would be nearly 6 million tonnes. A senior food ministry official, however, low-balled Reap's estimate and said output would be about 5 million tonnes. "We dispute the See # 17 Page 11
ISLAMABAD: Three-day session of National Assembly Standing Committee on Finance would start here from today (Wednesday) for approval of Reformed General Sales Tax (RGST) Bill and Finance Amendment Bill 2010. The session would be chaired by Chairperson of the committee Fauzia Wahab. In today's session the NA body would take stock of public reservations regarding RGST and the committee would hold public hearing in this regard. On the 2nd and 3rd day the clause wise approval of RGST and Finance Amendment Bill 2010 would be given. The government is facing a tough time in getting this bill passed as its allies MQM and JUI-F are strongly opposing the RGST. In the 17 member committee PPP only has 6 members and in order to get the bill approved it needs 9 members on its side. -Online
6 dead in Bannu suicide attack BANNU: Six people including 2 policemen have been killed and 22 wounded in a suicide attack on a police mobile van here, while another suspicious man was arrested from the scene. According to police, a mobile van was on a routine round when a suicide attacker blew himself up when the van was approaching Milad Park, killing two constables sitting in the van and 4 other people who were nearby and wounding 22 people. The injured have been shifted to the district hospital Bannu and few of the injured are said to be in critical condition. Police cordoned off the area and started the search operation. DIG Iftikhar Khan has confirmed the number of the casualties and said that it was a See # 16 Page 11
P E S H AWA R / S U K K U R : Prime Minister Syed Yousuf Raza Gilani Tuesday has said that Pakistan Army has the authority to decide when and where to launch the operation in North Waziristan, he added, however government has given its nod for such operation. Talking to media here he said that there is no pressure on us regarding launching an offensive in NWA the govt had given permission to launch the offensive before hand. The army first launched offensive in Malakand and South Waziristan. He said public apprehensions on RGST would be removed. In response to a question he
No sugar shortage in Pak: Gilani SUKKUR: Prime Minister Syed Yousuf Gilani has said that there is no scarcity of sugar in the country as propaganda is just meant to defame the government. Addressing a foundation-day gathering of Pakistan Peoples See # 6 Page 11 said that Wikileaks reports are unauthentic. Earlier, addressing the PPP workers at its 44th founding day at Peshawar PM Gilani again made it clear that PPP is not a mere political party only
Army demands full share of CSF ISLAMABAD: Pakistan Army has once again sought its full share of the Coalition Support Fund (CSF) from the government and made it clear that army is spending from its budget in war against terror and the delay in payments is causing a set back in its operational capabilities. Defense sources told Online that Pakistan Army has written numerous letters to federal finance ministry but despite
that federation has not paid due share of the army from the CSF. The federal govt has so far paid the army Rs1.6 billion out of Rs11.59 billion it owes to the army due to which the operational capabilities of the army are suffering. Sources told that the army is paying the expenditures of the war on terror through its own budget. Sources told that the See # 8 Page 11
RGST Bill Approval
Pak to buy more time from IMF ISLAMABAD: Pakistan has decided to make a request to International Monetary Fund (IMF) to extend its $ 11 billion stand-by programme for three months on the apprehension of expected delay on the approval of Reform General Sales Tax (RGST) from the Parliament. Pakistan's IMF programme is going to be end on December 31,
2010 and the request would be made to extend it till March 2011. RGST bill seems difficult to be passed from the parliament in the upcoming session starting from December 20, sources told. Provinces are still didn't reach on any agreement on the bill. IMF has conditioned its next tranches with the approval of RGST bill from parliament. -Online
TFCs pricing mechanism
Mufap urged to iron out issues Staff reporter KARACHI: Term Finance Certificates (TFCs) constitute a substantial part of investments of the Mutual Funds -more precisely of the Asset Management Companies --
investing in corporate bonds. However, sector experts believe that Mutual Funds Association of Pakistan (MUFAP) is not serious in resolving the pricing issue. See # 10 Page 11
but it is a name of ideology, movement and mission adding sacrifices made by our leaders are invaluable for the sake of the national interest of the country. Killers of Benazir Bhutto would be penalised and will be given rigorous punishment tooth and nail; Prime Minister Syed Yousuf Raza Gilani said. Prime Minister went on to say that "Terrorism is Pakistan's biggest problem; Shaheed Benazir Bhutto wanted to eradicate this menace from the country and we are rendering sacrifices to realize this dream," he said, added that BB gave her life for Pakistan. PM said that Pakistan's economy is being badly affected for the investors are trickling down See # 7 Page 11
PSO eyes 30pc stake in PRL Ghulam Raza Rajani KARACHI: Pakistan State Oil (PSO) intends to acquire 30 per cent shares in Pakistan Refinery limited (PRL) - shares currently hold by Shell Petroleum Co, London. As per notice sent by the Company to KSE, company will conduct due diligence of PRL and on the basis of the findings will decide whether it will proceed with the proposed acquisition. In case PSO proceeds with the acquisition, a subsequent tender offer will be made as stipulated in the Ordinance. BMA Capital Management Limited has been appointed by PSO as the lead Advisory Firm/ Financial Advisor to the transaction and the manager to the offer.
Fed Cabinet swells to 60 ISLAMABAD: Two new ministers have been inducted in the federal cabinet bringing the total number of federal ministers to 40 and state ministers to 18. According to state-owned television, Haji Khuda Baksh took oath in a simple but dignified ceremony as federal minister while Istaqbal Khan as State Minister respectively. It is pertinent to mention that as President Asif Ali Zardari is on a visit to Sri Lanka, Speaker NA Dr Fehmida Mirza took oath from the ministers. With these two new inductions the federal cabinet has swelled to 60 members that is 40 federal See # 9 Page 11
WikiLeaks draws global backlash PARIS: WikiLeaks faced a worldwide backlash on Tuesday over its release of secret US diplomatic cables, with some countries saying the revelations undermined diplomacy while others dismissed them as worthless. Japan echoed its key ally the United States in describing the leaks as "criminal" and said governments alone had the right to decide on the release of
sensitive documents. SArabia wants But WikiLeaks' founder Julian Assange, who defended chip implanted in the decision to reveal some Gitmo captives KABUL: Afghan President WASHINGTON: Chinese 250,000 diplomatic cables, ISLAMABAD: Wikileaks found support from leftist govRIYADH: Saudi King Hamid Karzai has ordered the officials are increasingly exas- released sensitive documents ernments in South America. Top US diplomat Hillary Abdullah proposed implanting release of numerous dangerous perated with close ally North alleging that the Gen Ashfaq Clinton left for the Guantanamo detainees with criminals and drug-traffickers Korea and some feel China's Kayani’s opposition led to the Organization for Security and electronic chips to monitor detained by US-led coalition erratic neighbor is losing its conflict on the Kerry-Lugar See # 12 Page 11 See # 13 Page 11 See # 14 Page 11 See # 11 Page 11 Cooperation in Europe (OSCE) Clinton, who earlier accused US and the world, vowed to Washington remains a credible summit in Kazakhstan on appearance of a diplomatic WikiLeaks of an "attack" on the reassure dozens of allies that See # 15 Page 11 Tuesday which has taken on the damage limitation exercise.
Karzai lets outlaws off
NKorea losing value to China
Kayani using the Parliament
2
Wednesday, December 1, 2010
“Mushaira held at DHA Library” DG FIA pays visit to KSE Aashti showers tribute on Khalid Alig TFD Report KARACHI: Wasim Ahmed, Director General, Federal Investigation Agency (FIA) along with senior officials of FIA, visited the Karachi Stock Exchange [KSE] for a meeting with the management, members of the board of Directors and the members of the Exchange including past president / chairmenKSE, with a view to discuss issues pertaining to the capital markets of Pakistan and its participants. The delegation was welcomed by Haroon Askari, Acting Managing Director KSE. Askari while highlighting the growth and development of the Karachi Stock Exchange has focused on issues pertaining to market disciplines for investors and members' protection. He assured the Director General FIA of Exchange's fullest cooperation in any possible future investigation that may be carried out by the agency. DG FIA assured the audi-
Pakistan reaches ITF forum semis ISLAMABAD: The winner of Microsoft Pakistan Innovative Teachers Forum (ITF) competition 2010 Saqib Anwar made it to the semi finals of Worldwide Innovative Education Forum (WWIEF). Microsoft sponsored the two winners of ITF to take part in WWIEF that was held in Cape Town, South Africa, where winning teachers from all over the world presented their projects. Out of the 31 semifinalists Saqib Anwer was among the 12 participants. Appreciating the efforts of contestants, Kamal Ahmad, Country General Manager Microsoft Pakistan said, "Teachers play a vital role in improving the skills of their students.”-PR
ence that FIA does not want to create an impression of any harassment among the business community. He assured the Exchange that in case of any investigation due care will be exercised in the working of the agency when it comes to bodies like Stock Exchange, as he fully understands the sensitivity of investors and any adverse impact in the public perception that might be generated over the issue of FIA investigations around these trade bodies. Wasim Ahmed, Director General, Federal Investigation Agency (FIA) said that the recent visit by his team to KSE is part of the awareness and goodwill drive by FIA to keep all stakeholders in the loop with FIA's likely work in relation to respective trade bodies. He further informed that he intends to pay a similar visit to other trade bodies of the country including Chamber of Commerce (FPCCI and KCCI), in near future.
KARACHI: Famous poets read their poetry to the audience in a poetic session held in the memory of Khalid Alig at DHA library.-Staff Photo
TFD Report KARACHI: A Mushaira was organised by a literary organisation, Aashti, in collaboration with Central Library DHA (DCL) to pay tributes to noted poet late Khalid Alig here recently. It was presided by the Vice-Chancellor of Karachi University, Dr Pirzada Qasim Raza Siddiqui.
MCMC participants travel to TCP KARACHI: Sixteen participants of 10th Mid Career Management Course (MCMC), representing various occupational groups, visited
the trading arm of the government and acts only on specific directions/decisions of the ECC of Cabinet/Government and
KARACHI: S Anjum Bashir, Chairman Trading Corporation of Pakistan (TCP) presenting commemorative sheild to H U Gandapur, Director of the Delegation of National Institute of Management, Peshawar.-Staff Photo
TV PROGRAMMES WEDNESDAY Time Programmes 7:00 News 8:00 News 9:05 Subah Savere Maya ke Sath 11:00 News 12:00 News 13:10 Newsbeat (Rpt) 14:10 Tonight With Jasmeen (Rpt) 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Crime Scene 20:03 Newsbeat 21:00 News 22:03 Tonight With Jasmeen 23:00 News 23:30 24
Trading Corporation of Pakistan (TCP) here on Tuesday. Chairman TCP welcomed the participants and briefed them about the ongoing business activities of TCP and its future plans. A detailed presentation was also made about TCP's role played in the national economy particularly in improving supply line of essential commodities; provide relief to common man at affordable prices and to overcome the shortage of essential commodities. The visiting officers were informed that TCP is
has recently posted profit of Rs1.632 billions after tax for the last financial year. The participants were also informed that TCP is fully PPRA Rules complaint and has been endeavouring to maintain complete transparency in all procurements. The participants took keen interest in the functioning of the organization and appreciated the efforts made by TCP Management in implementing the government directives. Divisional heads and other concerned Officers of TCP also attended the briefing.-PR
WEDNESDAY Time 8:00 9:00 9:15 10:00 10:15 11:00 11:05 12:00 12:15 13:00 13:05 14:00 15:02 15:30 16:15 17:05 (Rpt) 18:05 19:00 19:05 19:30 20:00 20:05 21:00 22:00 22:05 23:00 23:05 0:00
Programmes Chai Time (Rpt) News Pehla Sauda News Bazaar News Ghar Ka Kharch News Power Lunch News Islamabad Say (Rpt) News Akhri Sauda Tax Time (Rpt) Karobari Dunya Ghar Ka Kharch Chai Time News Aap Ka Paisa Mang Raha Hai Pakistan News Islamabad Say Pakistan Aaj Raat News Doosra Pehlu News Kamyab (Rpt) News
LAHORE: President LCCI Shehzad Ali Malik and Vice President Stockhome Chambers Charlotte Kalin sign agreement to promote bilateral trade.-Staff Photo
KARACHI: Consul General of Thailand Udom, GM Thai Airways Polapat, GM Karachi Marriott hotel Faysal Khan, and Chairman PTF&BF, Arif Suleman, inaugurating Thai Food Festival & Cultural Show at the hotel.-Staff Photo
Prominent poets presented their poetic verses. They included Rasa Chughtai, Rafiuddin Raz, Dr Pirzada Qasim Raza Siddiqui, Prof Sehar Ansari, Sabir Zafar, Salim Kauser, Khawja Razi Haider, Shahida Hasan, Prof Inayat Ali Khan and Javed Saba. Dr Pirzada Qasim Raza Siddiqui in his address described the late Khalid Alig as a revolutionary
PSO gets MAP Excellence Awards KARACHI: Pakistan State Oil (PSO) has been recognised for its excellent performance at the 27th Corporate Excellence Awards which were organised by the Management Association Pakistan here recently. PSO was awarded MAP Corporate Excellence Certificate in the Oil and Gas sector. The Company has also been feted by MAP in the past for its excellent performance. Expressing his views on the occasion, PSO Managing Director, Irfan Qureshi, said that PSO's vision is to excel in delivering value to customers as an innovative and dynamic energy company that gets to the future first. "We consider this award as recognition of PSO management's vision towards excellence combined with the dedication and hard work of all the employees," he added. The MAP Corporate Excellence Awards were instituted in 1982 to recognise companies demonstrating outstanding performance and best corporate governance practices adjudged through a stringent evaluation process by an independent committee.-PR
Nokia strikes 3mn downloads per day KARACHI: Nokia today announced that its Ovi Store has reached 3 million downloads per day, a milestone spurred by overall global demand and a recent update that gives users of Nokia's new Symbian smartphone family a friendlier look and feel as well as more popular apps and games. According to the handout issued here, the company is also gaining significant software developer momentum with more than 400,000 signing on to Nokia in the past 12 months, and 92 surpassing the million download milestone for their apps. In related news, the Nokia Qt Software Development Toolkit (SDK) and the Qt SDK combined have been downloaded 1.5 million times as developers discover this approach can improve the speed and efficiency of creating apps for mobile devices, including smartphones such as the new Nokia N8, Nokia C7 and Nokia C6-01, which are shipping, and the recently announced Nokia E7.-PR
poet of the contemporary era who stood fearlessly and courageously against all forms of tyranny and injustices. He said that Khalid Alig had the conviction, audacity and force of character to face the onslaught of challenges boldly in most adverse circumstances without making any compromise at any cost. He said that purpose of
all education systems was to develop and inculcate such rare qualities of character in the students. The Vice Chancellor said that pursuance and study of modern sciences and technology was foremost for progress and advancement in the present times. However, without study and understanding of literature and poetry, development and maturity of
mind and personality would remain a distant dream. He appreciated holding of literary functions like Mushaira as a creative and useful activity. Earlier, Khawja Razi Haider in his article on life of Khalid Alig said that the poet reflected the true feelings of alleviated human spirits through his poetry. Secretary Central
MNA appeals for release of funds KARACHI: Member National Assembly Waseem Akhtar has appealed to the Chief Minister of Sindh to release development funds for all districts of Sindh including Karachi without delay so that development projects could complete on time. "I have initiated development works in my jurisdiction with the MNA funds of Rs120million while more development projects were about to start soon. Construction work of Mehmoodabad road is completing early to facilitate the "Azadars" during Muharram-ulHaram. We have also decided to close down the Chakragoth Hydrant," he said while talking to media representatives
after inspecting the under c o n s t r u c t i o n Mehmoodabad road on Tuesday. He was accompanied by Administrator Karachi Fazlur Rehman, MD.KWSB Sajjad Abbasi, EDO W&S Rasheed Mughal, Administrator Jamshed Town and other officers. MNA Waseem Akhtar said that the construction of Mehmoodabad road was delayed since long and therefore it has been decided to solve this problem without further delay. He said that some pending works including repair of leakages in sewerage line and 42 water connections would have to be done first, as only after that the road carpeting will
start. Waseem Akhtar said that the KWSB has assured that all of that would be done as soon as possible, adding that the efforts were on to solve the problems of residents in Lines Area and PECHS. He said that the development projects were suffering due to financial constraints. People from all over the country were settled in Karachi and that is why it is called Mini Pakistan, therefore development works in this city must carry on in any circumstances. MNA Waseem Akhtar said that the decision of closure of Chakragoth hydrant had been taken on the demand of the people of Akhtar Colony and Kashmir Colony.-PPI
HSBC, ESML ink derivatives deal Staff Reporter KARACHI: HSBC Pakistan and Ellcott Spinning Mills Limited, a subsidiary of the Nagina Group recently completed a Derivative Deal in Lahore. Commenting on the transaction, Umar S Khan, Head of Commercial and Global Banking at HSBC Pakistan said, "We are excited at this development. In addition to using HSBC's global strength to better serve its customers, it paves the way to offer more solutions to our customers." The Head of Global Markets at HSBC Pakistan, Kamran A Khan, said: "This is a very promising endeavor for HSBC Pakistan and ESML, and
will go a long way in deepening the strong corporate relationship that we enjoy." HSBC is one of the largest banking and financial services organizations in the world, with an international network of around 8000 offices in 87 countries and territories in Europe, the Asia Pacific region, the Americas, the Middle East and Africa. In this regard, HSBC is
well placed to offer highly innovative financial services to its customers locally and internationally. With a strong footprint in Trade and Supply Chain services, and a truly integrated international network, there are many such initiatives to come. HSBC is committed to investing in the local economy, and maintains a consistent presence in Pakistan.
Tetra Pak on farmer training drive KARACHI: Tetra Pak, the world's leading food processing and packaging solutions company, launched a series of farmer training TV programmes, highlighting the benefits of the Dairy Hubs. This series of 20minute 15 TV programmes is the first of its kind consolidated and comprehensive dairy training knowledge aimed at enhancing millions of dairy farmers' knowledge on farming techniques, diseases and
vaccination. The training covers a diverse range of subject matter incorporating themes such as silage, hay making, deworming and mastitis. The topics are easy to understand and can be readily implemented for maximum benefit of millions of smallholder farmers. The TV programmes which feature famous film actress Saima, have been developed considering the cultural, regional and educational requirements of rural dairy farmers.
"By using a popular mass medium like TV, we aim to impart useful knowledge to farmers in an entertaining and engaging way. We hope our humble contribution to society can raise awareness among smallholder farmers and enhance dairy productivity in Pakistan," remarked Azhar Ali Syed MD Tetra Pak, speaking at the launch ceremony, which was held in the Royal Palm Golf and Country Club the other day.-PR
Library DHA (DCL) Lt Col (Retd) Rafat Naqvi in his welcome address described Mushaira as literary and cultural heritage of our traditions. He said that DCL was an emerging educational and literary centre of the city which was committed to the promotion of intellectual, literary, cultural and educational values in all its forms and manifestation.
New head for NBFI & Modaraba association Staff Reporter KARACHI: Basheer Ahmed Chowdry, Chief Executive Officer, Trust Modaraba has been elected as Chairman and Murtaza Ahmed Ali, CEO, Allied Rental Modaraba) Vice Chairman of NBFI & Modaraba Association of Pakistan for the year 201012, it has been learnt. The officers were elected unanimously by the Executive Committee of the Association. The elected members of the Executive Committee are Abdul Ghaffar Umer (CEO, First Paramount Modaraba); Abdus Samad Khan, (CEO, First Dawood Investment Bank); Farrukh S Ansari (CEO, Saudi Pak Leasing Company); Arjumand A Qazi (CEO, SME Leasing); Muhammad Adil Ghaffar, (CEO, First Equity Modaraba); Syed Zaheer Mehdi, (CEO, Standard Chartered Modaraba), Zulfiqar Ali, CEOf, Modaraba Al-Mali); Khaqan Hasnain Ibrahim, CEO, First Punjab Modaraba) and Amjad Iqbal, General Manager (C&M), Orix Leasing Pakistan). These elections were held in the Executive Committee of NBFI & Modaraba of Pakistan.
FPCCI calls for Chinese outlay in Pak KARACHI: Tariq Sayeed, Patron-in-Chief Pak-China Business Council of FPCCI said that there are lots of opportunities for Chinese companies to come and invest in Pakistan through making 100 per cent investment or by establishing joint ventures in Pakistan. A high powered delegation from China Council for the Promotion of International Trade, Sichuan Province (CCPIT) Chengdu, China headed by Li Li visited FPCCI, especially to invite Tariq Sayeed, Patron-in-Chief Pak-China Business Council of FPCCI and Sultan Ahmed Chawla, President FPCCI to participate in the 2nd South Asia Sichuan Business Promotion Seminar to be held in Chengdu on 25-26 February 2011. They have also requested Tariq Sayeed to invite 2-5 members of FPCCI to attend the said event. Tariq Sayeed thanked CCPIT for providing space to FPCCI for opening its representative office in Chengdu which has started operation since 01, September 2010.-NNI
3
Wednesday, December 1, 2010 Top Economic Events
Battered euro slides to 2-1/2-mth low against dollar Contagion fears weigh as peripheral bond spreads widen NEW YORK: The euro slid across the board on Tuesday, plunging to 2-1/2-month lows against the US dollar, with losses seen accelerating on nagging worries about euro-zone sovereign debt. A financial rescue deal for Ireland failed to contain contagion fears as the euro fell below the critical $1.30 level and investors took out many options barriers on the way. The next key figure to watch, traders said, is $1.2794, the 61.8 per cent retracement of the June to November rally. The euro was down nearly 7 per cent on the month, on track for its worst monthly performance since May when Greece received a 110-billion-euro bailout.
In tandem with euro weakness, the premiums investors demand to hold Spanish and Italian sovereign bonds over German debt jumped to lifetime highs while yields on Portuguese, Irish and Belgian bonds also widened. "Europe is m a k i n g some very bad decisions with respect to the whole region and the currency," said Peter Schiff, chief executive officer at Euro Pacific Capital, an asset management firm overseeing customer accounts of about $3 billion. "They should not have bailed out Greece and Ireland, they
should have allowed them to restructure their debt, and allowed their bondholders to take losses. Countries would now want to go into debt because they want those bailouts and the countries that are responsible get
stuck with the bill," said the Connecticut-based Schiff. Analysts suggested that given the sharply negative sentiment on euro-zone assets, the European Central Bank should take a more active hand in man-
Asian currencies
SKorean won dips; baht hovers near 2-mth low Malaysia ringgit off day's low, leveraged funds buy SINGAPORE: The South Korean won dipped against the dollar on Tuesday, dented by worries about geopolitical risks on the Korean peninsula, although demand from South Korean exporters lent the currency some support. October industrial output data added to downbeat sentiment for South Korean assets, after it declined for a third consecutive month, defying market expectations for a rise and reinforcing the view Asia's fourth-largest economy was quickly losing steam. The won was last quoted at 1,159.7 to the dollar, down from Monday's domestic finish at 1,152.5. Thai baht little changed against the dollar on the day at
30.17, not far from a twomonth low hit the previous day. Thai stocks came under profit taking and fell 0.4 per cent. Thai shares had climbed 1.7 per cent on Monday, after a court dismissed an electoral funding case against the party of Prime Minister Abhisit Vejjajiva, a decision that ensured the government's survival. USD/MYR opened at 3.16003.1630 and traded up to 3.1650 early before running into fresh selling interests. European names whacked the pair lower after the Australian dollar surged on better than expected Q3 export and public spending numbers and building approvals data for October.
Stg buoyed versus ailing euro; lags $ LONDON: Sterling rose to twomonth highs versus an ailing euro on Tuesday as European sovereign risk concerns undermined the single currency, which in turn hampered risk sentiment and supported the dollar against the pound. The euro skidded to 10-week lows against the dollar after a rescue package for Ireland failed to dampen speculation
other bailouts would be needed in the euro-zone. At 1603 GMT, the euro traded near the day's low of 83.52 pence, its lowest since late September. The single currency fell broadly, shedding one per cent on the day versus the dollar, the Swiss franc and nearly 2 per cent against the yen. Month-end euro/sterling demand from a major European sovereign account was well absorbed, traders said. Trade-weighted sterling rose to
81.4, matching a one-week high. Versus the dollar, sterling slipped to a two-month low of $1.5485 before recovering to $1.5586. But some saw another move lower. "We may see previous support of $1.5508 turn into resistance," one London-based trader said. Bids below that were seen around $1.5480 and at $1.5450, with stop-loss orders seen below those levels, traders said.
British consumer confidence weakened more than expected in November as people were the most downbeat about the prospects for their personal finances in almost two years, a GfK/NOP consumer confidence barometer showed. Traders largely ignored the release, with the focus for UK data on November manufacturing PMI data due Wednesday. A Reuters poll forecasts a slight fall to 54.60 from 54.90 in October. -Reuters
Leveraged funds were touted sellers on the way down too. The pattern on KRW has become quite predictable with offshore markets buying the USD up to 1165-70 and locals selling it back to 1150 next day. USD/KRW has traded a broad 1148.5-1162 range in Asia on Tuesday. The pair opened at 1161 and almost immediately came under pressure. The move higher through the KRW NDFs overnight was unrealistic and exporters were quick to seize on the attractive entry levels. Some players mentioned the decision by South Korea to abandon an artillery drill on Wednesday may have aided the KRW. -Reuters
Swiss franc hits 10-week high vs euro ZURICH: The Swiss franc hit a 10-week high against the euro on Tuesday, adding to strong gains the previous day as investors, worried about mounting eurozone sovereign debt problems, seek a safe haven for their cash. The worst may not yet be over for the single currency after a rescue package for Ireland failed to dampen speculation that other bailouts will be needed in the euro-zone. "At least from a fundamental point of view and aware of the increased Swiss franc long positioning very little speaks in favour of a materially higher euro-Swiss franc exchange rate anytime soon," said UBS economist Reto Huenerwadel. The franc traded 0.9 per cent stronger against the euro compared to the New York close, trading at 1.3011 per euro at 0823 GMT. The franc was up 0.7 per cent against the dollar at 0.9933 per dollar, after pushing just past parity the previous day. Following a sharp decline in September, the UBS consumption indicator rose by 0.02 points to 1.72 in October, signaling strong growth in consumption led by an improvement in retail business activity and growing new car registrations. -Reuters
Australian, NZ dollars in worst monthly loss in months SYDNEY/WELLINGTON: The Australian and New Zealand dollars looked set on Tuesday to round off their worst monthly fall in months as sliding Chinese shares and an embattled euro led edgy investors to sell risky assets. By early evening, the Australian dollar was on the defensive at $0.9614, about mid-way between an eight-week low of $0.9568 hit overnight and the day's high of $0.9659. Immediate support was pegged at the overnight low, a break of which may pave the way for a fall to the October low of $0.9541. For all of November, the Aussie dollar lost 2.4 per cent, its biggest drop in any month since May. The retreat, initially driven by profit-taking, gained speed after Europe's nagging debt problems gave investors more reason to shun risk. An over 3 per cent slide in China shares on Tuesday also did little for the mood. Cashstrapped Chinese banks and brokerages were said to be selling shares to raise money in the face of tighter monetary conditions. Still, some thought the latest pull-back meant it was a good time to buy the currency given
Australia's resilient economy would likely see more interest rate hikes next year. Indeed, domestic data showed exports were less of a drag on growth last quarter than many feared. Analysts now expect Wednesday's growth report to show the economy grew 0.5 per cent in the third quarter, lifting growth from a year ago to a robust 3.5 per cent. The New Zealand dollar revisited the one-month low of $0.7429 plumbed overnight, testing support at $0.7430, as the decline in Chinese stocks and fears of further tightening eroded confidence. The kiwi is now seen as likely to test support levels around $0.7400, last seen in early October. Data showing new house NZ building approvals fell 2 per cent in October added to the picture of a weak housing sector in a patchy economic recovery, which offers no reason for the central bank to resume rate rises any time soon. Both currencies edge lower against the yen, with the Aussie at 80.83 from 81.23 yen, with the Kiwi at 62.50 from 62.78. Aussie slightly outperforming the kiwi, rising to NZ$1.2917. -Reuters
aging the crisis. As a result, talk of an ECB quantitative easing would not be surprising, said Boris Schlossberg, director of FX research at GFT in New York. The ECB's meeting this Thursday is therefore crucial as investors will be looking for comments on how the bank could help address growing hysteria in the credit and currency market. It is also widely expected to keep rates on hold and sources say it could extend banks' access to unlimited three-month funds beyond January. The euro fell to $1.2969 on EBS, its lowest since Sept. 15, before recovering to $1.3022,
still down 0.7 per cent. Some traders said there is minor support at $1.2920, the Sept. 6 high. That level preceded a steep rally in the euro that took it all the way to that early November high at $1.4283. Some traders said $1.3040 could act as resistance on any intraday rebound. The euro zone single currency slid to 1.2934 Swiss francs, 108.33 yen, and 83.520 pence against sterling, all more than 10-week lows. With the spotlight on the euro, the dollar continued to gain, hitting a more than two-month high at 81.444 against a currency basket, lifted by safe-haven flows and recent evidence of an improving US economy. It last traded up nearly 0.3 per cent at 81.058. -Reuters
Yuan weakens as dollar strengthens SHANGHAI: China's yuan was moderately lower against the US dollar late Tuesday, after the US dollar strengthened further against the euro overnight because of continued concerns over European sovereign credit. But the yuan drew some support from banks and businesses that believe the currency is at an attractive level before it resumes its appreciation trend against the dollar shortly. On the over-the-counter market, the dollar was at 6.6670 around 0930 GMT, up from Monday's close of 6.6606. It traded between 6.6625 and 6.6700. The People's Bank of China set the dollar-yuan central parity rate at 6.6762, the highest fixing since Nov. 3 when it was set at 6.6818, and up from 6.6700 Monday. That came after the euro fell below $1.31 for the first time since Sept. 21 in New York trade on Monday due to concerns over a deterioration in the European sovereign debt crisis and despite the approval of an 85 billion euro rescue package for Ireland by European financial leaders on Sunday. At 0930 GMT, the euro was
at $1.3009, down from $1.3120 in late New York trade Monday. "The general market trend over the past few sessions has been to sell dollars to lock in the attractive exchange rate, but the dollar-yuan won't fall too much because worries about euro-zone debt will keep the dollar strong relative to other major currencies," said a Guangdong-based foreign bank trader. Another trader said the market is also bracing for a potential dollar short squeeze as businesses' routine month-end settlement needs may create a glut of dollar bids, catching banks' trading desks short. "One must be cautious for a potential dollar short squeeze later in the session as it's the end of the month," said a Shanghai-based trader at an European bank. But she said yuan demand dominated the market in the past two sessions. "For many, the dollar above 6.6700 is a good level to sell," she said. Offshore, the one-year nondeliverable forward was at 6.5433/6.5483, up from 6.5400/6.5470 late Monday. -Agencies
Indian rupee edges up on strong GDP data MUMBAI: The Indian rupee seesawed on Tuesday before closing marginally stronger as positive sentiment due to a better-than-hoped economic expansion in the September quarter was offset by sharp losses in the euro. India's economy grew more than expected in the second quarter, boosted by farm output and manufacturing, putting pressure on the central bank to tighten monetary policy although a rate increase next month still looks unlikely. The partially convertible rupee closed at 45.88/89 per dollar, off its low of 46.12, its weakest since Sept. 17, and 0.1 per cent above Monday's close of 45.93/94. On the month, however, the rupee fell 3.2 per cent, in its biggest monthly decline since May, when it had shed 4.3 per cent and snapped four consecutive monthly gains. Foreign funds bought $59.4 million worth of shares on Monday, latest data shows, tak-
ing net investments to a record $28.7 billion in shares so far in 2010, on top of the $17.5 billion purchased last year. One-month offshore nondeliverable forward contracts were at 46.20, weaker than the onshore spot rate, suggesting a bearish near-term outlook. In the currency futures market, the most traded nearmonth dollar-rupee contract on the National Stock Exchange, MCX-SX and United Stock Exchange closed at 46.1325, 46.1275 and 46.1350 respectively, with the total traded volume on the three exchanges at an average $6 billion. -Reuters
Time JPY JPY JPY AUD JPY EUR EUR CAD USD USD USD
Source Manufacturing PMI Unemployment Rate Prelim Industrial Production m/m Current Account Housing Starts y/y CPI Flash Estimate y/y Unemployment Rate GDP m/m S&P/CS Composite-20 HPI y/y Chicago PMI CB Consumer Confidence
Events 47.3 5.1% -1.8% -7.8B 6.4% 1.9% 10.1% -0.1% 0.6% 62.5 54.1
Forecast 5.0% -2.6% -6.6B 10.0% 1.9% 10.1% 0.1% 1.2% 60.1 52.7
Previous 47.2 5.0% -1.6% -5.4B 17.7% 1.9% 10.0% 0.3% 1.7% 60.6 49.9
Source
Events
5:30 6:00 12:00 12:00 1st-7th 14:30 18:15
Actual
Forecast
Previous
AUD GDP q/q CNY Manufacturing PMI EUR German Retail Sales m/m GBP Nationwide HPI m/m GBP Halifax HPI m/m GBP Manufacturing PMI USD ADP Non-Farm Employment Change
0.5% 54.8 1.3% -0.3% 0.3% 54.8 70K
Previous Day 1.2% 54.7 -1.7% -0.7% 1.8% 54.9 43K
Currency Rates Name EUR-USD GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY CAD-CHF Gold Silver
As per 22.00 PST Ask High 1.3035 1.3147 1.5584 1.5593 1.0267 1.0283 0.9604 0.9659 108.9400 110.6500 0.8366 0.8447 1.2980 1.3131 130.2500 131.2500 83.9300 84.5200 0.9707 0.9829 1384.8500 1386.3700 27.8500 27.8100
Bid 1.3034 1.5581 1.0263 0.9601 108.8900 0.8363 1.2977 130.1900 83.8800 0.9697 1384.3400 27.7700
Low 1.2970 1.5486 1.0173 0.9548 108.3800 0.8354 1.2936 129.3800 83.4800 0.9681 1363.1000 26.9300
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 30/11/2010 A USD GBP CAD EUR JPY O/N 0.23625 0.55313 0.98000 0.44875 SN 0.09000 1WK 0.25328 0.56063 1.01500 0.54125 0.10063 2WK 0.25500 0.56625 1.05000 0.62875 0.10563 1MO 0.26063 0.57875 1.08917 0.75375 0.12000 2MO 0.28000 0.63063 1.15000 0.85000 0.14750 3MO 0.30031 0.73875 1.22167 0.96750 0.18750 4MO 0.34750 0.82250 1.29750 1.03000 0.24875 5MO 0.40656 0.92875 1.36417 1.10875 0.30563 6MO 0.46100 1.03250 1.43667 1.20500 0.35563 7MO 0.51375 1.11000 1.50250 1.25000 0.40875 8MO 0.56625 1.19375 1.57667 1.30125 0.45500 9MO 0.61625 1.27625 1.64000 1.34875 0.49875 10MO 0.66813 1.35250 1.71167 1.39750 0.52750 11MO 0.72475 1.42125 1.79667 1.44375 0.55625 12MO 0.78656 1.48813 1.88667 1.48750 0.58625
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Dec 07 2010 Dec 09 2010 Dec 21 2010 Dec 02 2010 Dec 14 2010 Dec 16 2010 Dec 07 2010
Sep 08 2010 Mar 05 2009 Dec 19 2008 May 07 2009 Dec 16 2008 Mar 12 2009 Nov 02 2010
Bank of Canada Bank of England Bank of Japan European Central Bank Federal Reserve Swiss National Bank The Reserve Bank of Australia
Current Interest Rate 1% 0.50% 0.10% 1% 0.25% 0.25% 4.75%
Division of National Bank of Pakistan (NBP) KARACHI, November 30,2010 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND
85.90 133.57 112.59 84.24 85.90 82.58 12.28 1.02 13.93 65.12 15.11 22.91 11.06 12.89 304.31 27.21 63.89 23.59 23.39 0.07 2.84
85.70 133.26 112.33 84.05 85.70 82.38 12.26 1.02 13.90 64.97 15.07 22.85 11.04 12.86 303.60 27.14 63.74 23.54 23.33 0.07 2.84
85.51 132.96 112.07 83.83 85.48 82.17 12.22 1.02 13.86 64.80 15.03 22.79 11.01 12.82 302.80 27.07 63.58 23.47 23.27 0.07 2.83
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for November 30, 2010
KASB
BMA
ELXIR
GSL
ICSL
13.00 12.75 12.85 12.85 13.00 13.25 13.30 13.40 13.50 13.70 13.80 13.82 13.85 13.85 13.88 13.90 13.90 13.95 14.40 14.50
13.20 12.85 13.00 12.80 12.90 13.10 13.25 13.30 13.40 13.55 13.75 13.75 13.80 13.80 13.85 13.90 13.92 14.05 14.35 14.50
13.00 12.95 12.95 12.85 12.85 13.05 13.25 13.35 13.40 13.50 13.72 13.74 13.76 13.77 13.80 13.81 13.83 13.90 14.25 14.37
12.80 12.85 12.90 13.00 13.10 13.20 13.40 13.50 13.65 13.70 13.75 13.78 13.80 13.88 13.95 14.00 14.10 14.20 14.40 14.60
13.10 12.85 12.85 12.85 13.00 13.15 13.35 13.95 13.55 13.50 13.70 13.75 13.75 13.75 13.75 13.75 13.90 14.10 14.20 14.30
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 12.95 12.90 12.60 13.00 13.05 13.15 13.30 13.40 13.50 13.75 13.77 13.79 13.81 13.83 13.84 13.86 13.88 13.90 14.30 14.40
13.01 12.86 12.86 12.89 12.98 13.15 13.31 13.48 13.50 13.62 13.75 13.77 13.80 13.81 13.85 13.87 13.92 14.02 14.32 14.45
Currencies Correlation EUR/JPY Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/USD GBP/USD NZD/USD
week month months months year years
0.78 0.65 0.80 0.53 0.01 -0.19
0.99 0.47 0.76 0.51 0.90 0.85
0.90 0.44 0.78 0.71 0.83 0.52
0.96 0.64 0.86 0.64 0.75 0.74
0.85 0.71 0.79 0.46 0.42 0.46
USD/CAD USD/CHF
0.89 0.82 0.61 0.57 -0.07 -0.16
-0.04 -0.41 -0.71 -0.69 0.06 0.23
-0.78 -0.53 -0.81 -0.36 0.00 0.03
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)30/11/2010 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
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
ABLN 12.90
13.40
12.90
13.40
13.00
13.50
13.20
13.45
1335
13.60
13.45
13.95
13.60
14.10
13.70
14.20
JSBL
12.85
13.35
12.90
13.40
13.00
13.50
13.25
13.50
1340
13.65
1345
13.95
13.70
14.20
14.00
14.50
ASPK 12.85
13.35
12.90
13.40
12.95
13.45
13.00
13.25
1335
13.60
1345
13.95
13.55
14.05
13.65
14.15
CIPK
12.90
13.40
13.00
13.50
13.00
13.50
13.10
13.35
1340
13.65
1360
14.10
13.80
14.30
13.90
14.40
DBPK
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
FBPK 12.90
13.40
12.80
13.30
12.75
13.25
13.05
13.30
1345
13.70
13.65
14.15
13.70
14.20
13.90
14.40
F LAH 12.90
13.40
12.80
13.30
12.75
13.25
13.15
13.40
1345
13.70
1355
14.05
13.65
14.15
13.75
14.25
HBPK 12.85
13.35
12.80
13.30
12.85
13.35
13.10
13.35
1325
13.50
1340
13.90
13.50
14.00
13.55
14.05
HKBP 12.70
13.20
12.75
13.25
12.80
13.30
12.90
13.15
1320
13.45
1325
13.75
13.35
13.85
13.40
13.90
N I PK 12.75
13.25
12.75
13.25
12.85
13.35
13.25
13.50
1340
13.65
1350
14.00
13.60
14.10
13.70
14.20
HMBP 13.10
13.60
12.90
13.40
13.00
13.50
13.30
13.55
1350
13.75
1380
14.30
13.85
14.35
13.90
14.40
SAMB 12.75
13.25
12.75
13.25
12.80
13.30
13.15
13.40
1340
13.65
1365
14.15
13.70
14.20
13.85
14.35
MCBK 12.90
13.40
12.95
13.45
13.05
13.55
13.15
13.40
1330
13.55
1340
13.90
13.50
14.00
13.75
14.25
NBPK 12.80
13.30
12.85
13.35
12.90
13.40
13.00
13.25
1325
13.50
1340
13.90
13.50
14.00
13.70
14.20
SCPK 12.75
13.25
12.65
13.15
12.70
13.20
13.00
13.25
1315
13.40
1330
13.80
13.45
13.95
13.55
14.05
UBPL 12.85
13.35
12.80
13.30
12.85
13.35
13.10
13.35
1330
13.55
1340
13.90
13.50
14.00
13.60
14.10
AVE
13.35
12.83
13.33
12.89
13.39
13.11
13.36
1335
13.60
1347
13.97
13.59
14.09
13.73
14.23
ABPL
12.85
4 Wednesday, December 1, 2010
The Financial Daily International Vol 4, Issue 114
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA
S. Muneer Hussain Rizvi
Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Akhtar M. Zaidi, FCA
Prof. Zakaria Sajid (KU)
Dr. A. Hadi Shahid, FCA
Zahid Bukhari SVP HBL (retd)
Muhammad Arif
Ismat Sabir Head office
111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-5311893-6 Fax: 92-21-5388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com
Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com
Deficiency of energy products According to a news item published in a local newspaper a study conducted on Pakistan's hydro carbon reserves, the country is heading fast towards worst gas crisis. Seven of its major reservoirs, currently contributing 65 per cent of total gas supply, will completely deplete by 2014-15. The three major fields namely Sui, Uch and Qadirpur are depleting at an alarming pace. The study conducted by the foreign consultants on the request of the Government of Pakistan says that while gas demand is increasing by 5 per cent per annum there has been no corresponding increase in supply. In fact the gap between demand and supply is growing, evident from massive load shedding of gas undertaken throughout the country. Pakistan's daily gas demand is forecast to grow to 5.6 billion cubic feet (bcf) by 2014-15, but production is likely to go down substantially from the current level of around 4 bcf. In fact Pakistan's gas production has come down from 5 bcf/day in 2007 to 3.9 bcf/day during 2010. As against this a report published in another newspaper says domestic daily oil and gas production increased by 2 per cent to 765,000 barrels oil equivalent (boe) during 4MFY11 against 750,000 boe in 4MFY10 mainly due to enhancement of production from Tal block fields Manzalai and Makori. While oil production increased by one per cent to 64,400 barrels per day (bpd) from 63,900 bpd, gas production surged by 2.1 per cent to 4 bcf from 3.94 bcf during the period under review. According to a report of InvestCap country's oil production has increased, though marginally benefiting from recovery in Adhi, Bela, Chanda, Mela, and Naspha field cumulatively contributing 28 per cent to country's oil production. Similarly, gas production also increased from Qadirpur and Kandhkot posting cumulative increase of 2.3 per cent. However, a point of concern is OGDC's oil and gas production has declined by 4.8 per cent and 1.8 per cent respectively during 4MFY11. There is also a need to put the LNG terminal in place on war footings as this winter gas shortfall is likely to exceed 1000mmcfd. It is necessary to remind the government that this shortfall can be overcome by bringing down UFG of Sui twins and resolving litigation faced by some of the major gas field discovered lately. Production reports provide some comfort that the situation is not as alarming as portrayed in the report prepared by the foreign consultants. Experts also say that country has enough gas reserves to meet the demand for next 15 years. However, it is necessary to expedite exploration and production activities in the country to maintain self sufficiency in gas over the foreseeable future.
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.
Naked Aggression of NKorea Park Sung Ho
T
he Naked Aggression of North Korea against people of South Korea is the latest attack in a long list of assaults committed over the Years. The unprovoked artillery and howitzer attack on South Korean village resulted in the death of four citizens including two civilians and serious injuries to at least 19 others. The unprovoked attack was so fierce that hundreds of South Korean villagers had to be evacuated for the safety of their lives. It is to be pointed out that this is the second very serious aggression against South Korea. The North Korean had earlier destroyed a South Korean navy corvette which caused death of 41 soldiers. The entire South Korean nation has been angered by unprovoked North Korean attack and resin as one to repulse them. They have vowed to stop these attacks by retaliating force with force. The following is the chain of events which shows how much restraint and patience has been shown by the South Korean government and people. Chronology of events l On November 23, the North Korean military fired around 170 artillery shells, from 14:34 to 15:41, into waters near and on to Yeonpyeong Island in the West Sea. According to the rules of engagement, the South Korean armed forces promptly returned fire after the initial firing by North Korea, leading to a clash between the two countries. l The North Korean military fired coastal artillery and howitzer shells from its Gaemeori and Mudo bases in Kangryong District of Hwanghae Province, in two rounds of firing,
killing four people (2 marines and 2 civilians) and injuring 19 (16 marines and 3 civilians). l The South Korean government has put all its armed forces on high alert and is closely monitoring any signs of additional provocations by North Korea. North Korea's Provocation l Domestically, since the third-generation power succession to Kim Jongun became official through the Party Conference (Sep. 28), the North Korean top elite, literally "sharing a common destiny", has been stabilized, but discontent continues among the middle class and general population. l On the economic front, there have been no tangible progress necessary for settling the succession process, while the South Korean government's stern measures against North Korea implemented on May 24 after the sinking of the South Korean Navy corvette Cheonan (Mar. 26) and international sanctions imposed on the country in this regard have further aggravated its economic situation. l North Korea faces the need to establish Kim Jong-un, who lacks experience and qualifications, as a "military leader" in a short period of time. Also, they need to intentionally create tension to garner support and loyalty from the North Koreans currently critical of the third-generation power succession. l In terms of its relations with the South Korea, North Korea has recently engaged in a staged peace offensive to gain economic benefits and create conditions for dialogue with the US. Despite such efforts, it is difficult for North Korea to expect any results due to the South Korea's principled policy toward the country.
l North Korea has excessive confidence over its nuclear capability while having made a misjudgment that "potential economic risks" would limit the South Korea's response in case of any provocations by North Korea. l Externally, North Korea tried to put pressure on the US by revealing its uranium enrichment facility, while using China, based on the recently intensified ties with the country, as a buttress. But, this only resulted in strengthening US stance toward North Korea. l The display of nuclear capability by North Korea followed by the attack using conventional arms were intended to bring the US to the negotiating table by highlighting the need for "urgent freeze of its nuclear program and discussions on a peace treaty." New Aspects of Recent Provocations l Unlike the past when North Korea had only threatened the five islands in the West Sea, it became adventurist enough to actually carry out armed provocations. l While North Korea's acts of provocation on the South Korea typically took place separately from its creation of a crisis situation targeting the outside world, North Korea this time conducted an artillery provocation (Nov.23) shortly after it disclosed its uranium enrichment facility to Dr. Siegfried Hecker who was visiting North Korea (Nov.12). l Given that Kim Jong-un has been participating in military affairs since his appointment as Vice Chairman of the Party Central Military Commission (Sep. 28), it is likely that Kim Jong-un led the military provocation against the ROK for the first time as part of the efforts to amass military achievements.
North Korea's Preposterous Excuses l Immediately after its artillery provocation on Yeonpyeong Island on November 23, the Supreme Command of the Korean People's Army proclaimed, "South Korea perpetrated such reckless military provocation as firing shells inside the territorial waters of North Korea, so we took such military step as reacting to the military provocation with a physical strike." l The above-mentioned firing exercise of the South Korea military is a regular quarterly exercise which lasts more than 10 years, and the firing was headed toward the territorial waters of the ROK (Southwest), not North Korea. Notification was sent to North Korea prior to the exercise in conformation of the normal procedure. South Korea Position l The South Korean government described North Korea's artillery provocation on Yeonpyeong Island as a clear violation of the UN Charter, the Armistice Treaty and the Protocol on the Implementation and Observance of the South-North Basic Agreement of 1992 on non-aggression. l Being aware that North Korea, anxious to settle its third-generation hereditary succession, is likely to continue provocations in order to seek a breakthrough, the South Korea government plans to take decisive measures to deter the North's further provocation in close collaboration with our allies. l The South Korean government is expecting that the international community will actively join efforts to deter provocations of North Korea and maintain peace on the Korean Peninsula.
Indian Thirst for Water Maimuna Ashraf
I
ndia, craving for United Nation Security Council bid has remained a clear violator of human rights and treaties. World is not oblivious of its human rights violation in Kashmir. Kashmir is not the only victim; India is a country alleged for disturbing the regional balance and distressing its neighbors by putting different troubles on them. The most common and serious issue is of water. India deserves to be called a pilferer that steals from its neighbors, sticks its thumb at them and behaves like the local bully. Its water terrorism is well documented and reported by the international media too but result is a cloudy judgment due to India's economic strength and its significance in the region. Indian water terrorism has created severe problems for its neighbors Bangladesh, Bhutan, Nepal and Pakistan. India has dispute with Bangladesh over Farraka Barrage, with Nepal over Mahakali River and with Pakistan over 1960 Indus Water Treaty to turn the agricultural land of its neighbors into barren. Pakistan is the most effected victim of India's water terrorism due to illegal occupation of Kashmir by India because all of the rivers providing water to Pakistan, route through Kashmir. India is active in building dams on all rivers flowing into
Pakistan from occupied Kashmir to get back the control of water of western rivers in violation of Indus Treaty. This is being done under well thought out strategy to leave Pakistan's link-canal system redundant, destroy agriculture. Commissioner Indus Water Basin Treaty (IWBT) Jamaat Ali Shah has accused India of violating IWBT by constructing Kishanganga, NimmoBazgo and other hydropower Projects
severely affected. Besides, India had nearly completed the 22-km tunnel to divert Kishanganga (Neelum) waters to Wullar Lake in violation of the Indus Waters Treaty and was working to complete the 330MW project by 2016. The project would severely affect the Pakistan's right over the river, reduce the river flows into Pakistan and minimise its power generation capacity of the 969MW Neelum Jhelum
As Pakistan's Neelum-Jhelum project is likely to be completed by 2017. India has doubled its efforts to complete the Kishanganga project by 2016, so that it could have the Pakistani project declared redundant, since whosoever completes the project earlier, will receive top priority. on the rivers and turn Pakistan into a desert. Pakistan has warned India numerous times that Pakistan will go to war on the sharing of waters of the Indus. These threats have been so frequent by people at the political, military, bureaucratic and technical levels that perhaps these threats have lost the meanings now. Jamaat Ali Shah has revealed that India has plans to construct over 100 Hydropower Projects on the three rivers (Jhelum, Indus and Chenab), which would affect not only the flow of water into Pakistan but the environment of the region would also be
Hydropower project near Muzaffarabad in Azad Kashmir. With the diversion of this water, Pakistan would face deficit of 21 per cent water which would reduce 16 per cent power production causing the loss of about Rs 5 billion in one year. Pakistan has already showed reservations on the construction of Wuller barrage in occupied Kashmir where the Indian plans include storing water and then tunneling it to the Wuller Lake, where it is constructing 800MW power house. As Pakistan believes that Wullar barrage can be used as a geostrategic weapon, potential to disrupt the triple canal project of Pakistan (upper
Jhelum, upper Chenab, Lower Bari Doab canals), to badly affect the Neelum-Jehlum hydropower project, to affect agriculture in Azad Kashmir, would dry 5.6 million acres of land of Punjab's cultivable land, would dry Mangla dam and would result in load shedding if Pakistan does not get enough water to run its turbines. Jamaat Shah said that India started the Wuller barrage project quietly in 1985 and Pakistan got information about this project in 1987. Pakistan a raised objection with the result the work was suspended which has not been resumed so far. 'So far 13 secretary level rounds of talks have been held between the two countries but the issue is still pending'. Also by taking advantage of its influence over Afghanistan, India has succeeded in convincing Karzai regime to build a dam on River Kabul and setup Kama Hydroelectric Project using 0.5MAF of Pakistan water. It has offered technical assistance for the proposed project which will have serious repercussions on the water flow in River Indus. As Pakistan's NeelumJhelum project is likely to be completed by 2017. India has doubled its efforts to complete the Kishanganga project by 2016, so that it have the Pakistani project declared redundant, since whosoever completes the project earlier, will receive top priority.
The Most Shocking of the Leaks Yemen Takes the fall for US Drones Leaked documents reveal that Yemen has been covering up for the US in the fight against al Qaeda by saying publicly that attacks initiated by the State Department were directed by Yemen. "We'll continue saying the bombs are ours, not yours," Yemeni President Ali Abdullah Saleh told General David Petraeus in January 2010. The cover up, made necessary by severe distrust of the US in the Middle East, prompted Yemen's prime minister to joke about how the president had "lied" to his parliament about the strikes. China Hacked Google and the Dalai Lama The Chinese government was behind the much-publicized cyber attack on Google's computer network this year, according to "a Chinese contact" who told the US Embassy in Beijing about "a coordinated campaign of computer sabotage carried out by government operatives." US officials have previously declined to finger the Chinese government publicly for the attacks, but the WikiLeaks cable makes clear that Beijing directed hacks into not only Google, but also US and Western allies' computers, the Gmail accounts of Chinese dissidents, and even the Dalai Lama's computer. Hillary Commissioned UN Spies Hillary Clinton wanted diplomats to snoop out credit-card numbers, frequentflier details, schedules, email addresses, cell phone numbers, and even DNA of the members of the UN Security Council, according to the documents.
That includes UN Secretary General Ban Ki-moon, about whom the secretary of state requested information on "management and decision-making style and his influence on the secretariat." The requests, which were made in July 2009 and follow similar orders from Clinton's predecessor, Condoleezza Rice, will no doubt cause embarrassment and could even be illegal: A 1946 U.N. treaty bans "search, requisition. and any other form of interference" of United Nations property. "Feckless" Berlusconi has "Shadowy" Ties to Putin The cables are not very kind to Italian Prime Minister Silvio Berlusconi, who is deemed "feckless, vain, and ineffective as a modern European leader" by Elizabeth Dibble, the US envoy to Rome. Another leaked document details Berlusconi's already known "frequent late nights and penchant for partying hard." The reports also question the intimate relationship between Berlusconi and Russian Prime Minister Vladimir Putin, who reportedly use a "shadowy" bilingual gobetween and lavish each other with expensive gifts. Secretary Clinton asked her envoys in the two nations to report on any business dealing between the two, in addition to their chummy bromance. Saudi King Wanted a US Military Strike on Iran Saudi Arabia's King Abdullah repeatedly pushed the US to attack Iran, according to the US ambassador there. "Cut off the head of the snake," the king
said in 2008, requesting a military strike against Iran's burgeoning nuclear program. The Saudi government also called for "severe US and international sanctions on Iran." Israel also urged action, labeling 2010 a critical year. A June 2009 message describes Israeli Defense Minister Ehud Barak outlining a "window between 6 and 18 months from now in which stopping Iran from acquiring nuclear weapons might still be viable." After that, said Barak, "any military solution would result in unacceptable collateral damage" Other cables show that the US believes Iran has received advanced missiles from North Korea capable of striking Moscow and Europe. Corrupt Afghan VP Caught with $52 million Cash This must have weighed down his luggage: Officials working with the Drug Enforcement Agency in the United Arab Emirates last year discovered that Afghanistan's visiting vice president, Ahmed Zia Massoud, had $52 million on him, in cash. Calling the bonanza a "significant amount," the US Embassy let him keep it "without revealing the money's origin or destination." Massoud denies funneling any cash out of Afghanistan. US Offers Payouts in Exchange for Guantanamo Detainees US authorities were so anxious to resettle Guantanamo prisoners abroad that they were ready to strike any deal with a foreign country willing to take them. Officials offered Kiribati, a tiny island nation in the Pacific with a popu-
lation 98,000 millions of dollars in incentives to shelter Chinese Muslim detainees. They also bribed Slovenian officials to take an inmate in exchange for the chance to meet President Obama. Belgium, meanwhile, was told that taking Guantanamo prisoners would be a "low-cost way to attain prominence in Europe." South Korea Planning to Reunite the Two Koreas As tensions on the peninsula escalate, American and South Korean officials have already discussed plans to unite the two Koreas should the North ultimately collapse. They've also considered inducing China to go along with reunification, with the South Korean ambassador telling the State Department in February 2010 economic incentives would "help salve" China should a united Korea end up in a "benign alliance" with the United States. State Department Gives Low Marks to Germany's Merkel The German magazine Der Spiegel, which was among the publications allowed to preview the leaks, immediately zeroed in on the State Department's cool perception of Chancellor Angela Merkel. The German leader "has not taken bold steps yet to improve the substantive content of the relationship," wrote former US Ambassador William Timken in 2006. Merkel was also called "risk averse and rarely creative" in a 2008 message. German Foreign Minister Guido Westerwelle, meanwhile, was deemed "short on substance."Courtesy: The Daily Beast
5
Wednesday, December 1, 2010
South East Asian stocks
European stocks end flat, debt woes weigh KSE-100 Index Opening Closing Change % Change Turnover (mn)
11,163.43 11,234.76 71.33 0.64 165.17
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,487.77 3,502.97 15.20 0.44 8.34
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,857.21 2,862.06 4.85 0.17 0.36
Major Gainers
Symbol UPFL BATA BHAT SRVI NRL
Close
Change
1,093.24 618.49 256.20 239.43 271.63
43.24 29.08 12.20 11.40 8.88
Major Losers
Symbol
Close
Change
RMPL 1,825.36 FZTM 412.19 ULEVER 4,124.00 SFL 112.00 PHDL 37.05
-83.64 -16.81 -7.12 -5.69 -1.95
Top 5 Volume Leaders
Symbol
Close Vol (mn)
LOTPTA JSCL NML NIB NPL
12.36 13.03 59.61 2.87 15.49
29.61 13.82 11.67 8.39 7.82
Active Issues Plus Minus Unchanged
254 131 24
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to Sep 10) 4,190 Urea Offtake (Sep 10) 324 Urea Price (Rs/50 kg) 851 DAP Offtake (Jan to Sep 09) 680 DAP Offtake (Sep 10) 226 DAP Price (Rs/50 kg) 2,628
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Oct 10) 26,842 Sales (July 10 to Oct 10) 25,279 Production (Octy 10) 7,311 Sales (Oct 10) 7,459
INDUS MOTOR CO Production (July 10 to Oct 10) 17,013 Sales (July 10 to Oct 10) 16,622 Production (Octy 10) 4,827 Sales (Oct 10) 4,830
HONDA ATLAS CAR Production (July 10 to Oct 10) Sales (July 10 to Oct 10) Production (Octy 10) Sales (Oct 10)
5,481 5,172 1,514 1,340
DEWAN FAROOQ MOTORS Production (July 10 to Oct 10) Sales (July 10 to Oct 10) Production (Octy 10) Sales (Oct 10)
186 70 0 18
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (Nov 6,10) Advances (Nov 6,10) Investments (Nov 6,10) Spread (Sep 10)
4,729,932 3,011,868 1,897,426 7.57%
OIL MARKETING CO (000 tons) MS (Jul 10 to Oct 10) MS (Oct 10) Kerosene (Jul 10 to Oct 10) Kerosene (Oct 10) JP (Jul 10 to Oct 10) JP (Oct 10) HSD (Jul 10 to Oct 10) HSD (Oct 10) LDO (Jul 10 to Oct 10)) LDO (Oct 10) Fuel Oil (Jul 10 to Oct 10) Fuel Oil (Oct 10) Others (Jul 10 to Oct 10) Others (Oct 10)
PRICES (Ex-Refinery) MS (1 Nov 10) MS (1 Oct 10) MS % Chg Kerosene (1 Nov 10) Kerosene (1 Oct 10) Kerosene % Chg JP-1 (1 Nov 10) JP-1 (1 Oct 10) JP-1 % Chg HSD (1 Nov 10) HSD (1 Oct 10) HSD % Chg LDO (1 Nov 10) LDO (1 Oct 10) LDO % Chg Fuel Oil (1 Nov 10) Fuel Oil (1 Oct 10)
744 198 53 15 452 122 2,182 664 22 6 3,086 854 3 1
Rs 44.53 40.71 9.38% 51.25 47.31 8.33% 51.48 47.54 8.29% 54.24 50.38 7.66% 49.51 46.13 7.33% 42,046 39,276
Manila down, weakest market in November US stocks mid-day
KSE near 29-mth high in post-rate-hike rally Nawaz Ali KARACHI: Discounting the interest rate hike, Karachi Stock Exchange (KSE) Tuesday went bullish ending near 29-month high. The benchmark KSE 100Index gained 71 points --0.64 per cent to close at 11,234 points, the highest closing since July 2008. KSE 30-Index jumped by 92 points to close at 10,838 level and KSE All Share Index rose by 52 points to close at 7,818 points.
"The hike in key policy rate was in line with expectations and that’s why investors rushed to repurchase fundamentally strong shares", said Samar Iqbal, equity dealer at Topline Securities. Investors' focus was on the cash-rich companies due to increase in discount rate, he added. State Bank of Pakistan (SBP) increased the key rates by 50bps to 14 per cent on Monday in order to rein in the persistently increasing inflation due to government borrowing from
Nikkei plunges; China fall weighs TOKYO: The Nikkei average slid almost 2 per cent on Tuesday, as a tumble in Chinese shares on liquidity worries pushed Japan investors to book profits on a sharp rally for Tokyo stocks this month. Shanghai stocks fell as a cash shortfall in the domestic money market, after a slew of official tightening steps, led to a liquidity squeeze in the stock market and prompted retail investors, already jumpy about more tightening, to sell shares. "Investors are worrying that China could raise interest rates after announcing its purchasing managers' index tomorrow," said Hideyuki Ishiguro, a strategist for Okasan Securities. After posting a surprisingly strong PMI in October, China twice increased banks' required reserves, so a robust reading for November might make the authorities more confident about taking further tightening steps, analysts said. The Nikkei dropped 1.9 per cent or 188.95 points to 9,937.04, after hitting a fivemonth closing high of 10,125.99 on Monday. Immediate support lies at its closely watched 200-day moving average, now at 9,911.41. The broader Topix index shed 1.6 per cent to 860.94. Japan's largest construction machinery maker, Komatsu Ltd shed 2.4 per cent and Hitachi Construction Machinery fell 3.1 per cent. Worries that Europe's credit crisis will spread to Portugal and Spain despite a bailout of
Ireland also weighed. But market players said Tokyo stocks were likely to retain this month's positive tone, helped by recent weakness in the yen, which hit a two-month low against the dollar on Monday. The Nikkei rallied 8 per cent this month, its best monthly performance since March, with foreigners shifting funds back to lagging Tokyo equities after US monetary easing lifted expectations of more liquidity in financial markets. "Short-covering by hedge funds appears to be continuing, though it has lost momentum," said Kenichi Hirano, operating officer at Tachibana Securities. "Still, moves like this by overseas hedge funds will likely continue into the new year as they try to bring Japanese stocks back to neutral in their portfolio after having overly shorted them up to now." Strong U.S employment figures and robust and strong sales during the Christmas shopping season would likely spur more buying of Japanese equities, market players said. Shares of Cresco surged 7.7 per cent to 448 yen after the maker of business-use software announced it will buy back up to 3.8 per cent of its shares between Nov. 30 and May 31. Trade picked up slightly on the Tokyo exchange's first section, with 2.18 billion shares changing hands, its highest volume in more than a week. Declining stocks outnumbered advancing ones by about 6 to 1.-Reuters
the central bank. According to experts, market had already discounted this hike in the last few sessions therefore investors took positions in oil stocks following rising international oil while buying was also seen in banking, cement and fertiliser stocks as the uncertainty over monetary policy was finally over. Therefore due to continued buying index remained in the bullish territory almost throughout the day touching the highest and the lowest levels of
FTSE down on falling banks, oils LONDON: Britain's leading share index retreated on Tuesday with a rally by miners more than offset by falls in oils and financials as investors fretted over euro zone debt problems during a choppy session. The FTSE 100 closed down 22.68 points, or 0.4 per cent, at 5,528.27, a level not seen since the middle of September. The blue chip index recorded its worst monthly performance since June, shedding 2.6 per cent after a poor second half in a major reversal from 29month highs at the start of November. Banks, seen as among the most vulnerable to continued European debt uncertainty, were the biggest blue-chip fallers on Tuesday. Barclays came under the most pressure due to its exposure to the Iberian peninsula, losing 2.6 per cent after earlier touching a 12-month low. Other financials also suffered as investors shunned stocks perceived to be riskier, with insurer Standard Life down 3.7 per cent and fund manager Schroders off 2.1 per cent. Integrated oils were weaker after a roller-coaster session as the crude price fell with a firmer dollar, with BP and Royal Dutch Shell both losing 0.5 per cent. But Cairn Energy bounced back from sharp falls on Monday, up 2.4 per cent, as analysts highlighted the recent win of three new exploration licences for offshore Greenland.-Reuters
Shanghai, HK duck on China policy fears HONG KONG/SHANGHAI: Shares in Shanghai fell on Tuesday, dragging down stocks in Hong Kong, as mainland banks and brokerages rushed to raise cash after a slew of tightening measures this month left them short of funds. Reflecting the dash for cash, China's benchmark short-term money market rate jumped early on Tuesday to its highest in more than two years. The Shanghai Composite Index ended down 1.6 per cent at 2,820.2 points, a level not seen since early October. The index has fallen 5.3 per cent this month after rising 12 per cent in October. Hong Kong's benchmark Hang Seng Index fell 0.7 per cent at 23,0007.99. It lost 0.4 per cent in November, its first monthly loss in three months. Analysts said the funding squeeze in mainland China was prompting investors to sell heavily weighted financials and commodity issues in Shanghai
to raise cash. Chinese markets have already been on edge for weeks, fearing the central bank would introduce further tightening measures to curb inflationary pressures, such as additional hikes in bank reserve requirements and more interest rate increases. Financials were among the biggest losers, with Industrial and Commercial Bank of China , the world's most valuable lender, down 2.1 per cent and Merchants bank 1.7 per cent lower. Top broker Citic Securities fell 2.7 per cent, Volume jumped from lacklustre levels seen this month, with fierce selling of small cap drug shares after the government announced measures to cut the prices of 17 types of medicines. Tonghua Dongbao Pharmaceutical , for example, dropped 7.4 per cent. Turnover of Shanghai A shares rose to 172 billion yuan ($25.86 billion) from 133 billion yuan on Monday.
OIL AND METALS PLAYS LEAD HK LOWER Hong Kong was not hit as hard as those in Shanghai, although oil and metals counters were sharply lower, underperforming the broader market. After a rally early this month, investors have been shedding holdings of Hong Kong shares, fretting about China's plans to curb inflation, debt problems in Europe and, more recently, political tensions on the Korean peninsula. Bucking the trend, Li & Fung Ltd , which supplies goods to US retailers such as Wal-Mart Stores Inc , rose 1.4 per cent after touching a fresh record high in the morning session. The stock has jumped 11 per cent in the last four sessions, including Tuesday's gains, as investors bet that US consumer spending was picking up, as evidenced by brisk Thanksgiving holiday sales. Volume of trade rose to HK$101 billion ($13 billion), the highest in two weeks.-Reuters
11,284 points (+ve 121) and 11,158 points (-ve 4) respectively. However index ended with some clipped gains due to profit taking at higher levels. Foreigners continued with their buying as according to NCCPL a net-buying of $1.14 million was recorded on Tuesday as well. Local companies did a netbuying of $4.07 million while banks and NBFCs a net-selling of $3.53 million and $1.04 million respectively. Investor participation too
Housing data, Europe woes dent Wall St
was impressive as 165.1 million shares traded during the day --74.9 million more as compared to a turnover of 90.2 million shares a day earlier. Lotte Pakistan was the volume leader with 29.61 million shares followed by Jehangir Siddiqui & Co with 13.82 million shares and Nishat Mills with 11.67 million shares. Out of total 409 active issues 254 advanced and 131 declined while 24 issues remained unchanged.
Indian shares rise on economic growth BANGALORE: Indian shares recouped early losses and climbed 0.6 per cent on Tuesday, supported by betterthan-expected economic growth and firm European markets. Traders said improved growth prospects helped ease some of the gloom caused by a series of scandals that have hit some sectors and drove the market down. The main index had shed 2.6 per cent in November, its biggest monthly loss since May. The economy grew 8.9 per cent in the September quarter, faster than 8.3 per cent forecast in a Reuters poll, boosted by robust farm output and manufacturing. Growth in the December quarter could be better, the chief economic adviser to the finance ministry said. "We do not see a runaway rally from here because the overhang is still there, the bad taste of the scams remains." The 30-share BSE index erased early losses of nearly 1 per cent and closed up 116.15 points, at 19,521.25 with 19 of its components rising. The benchmark had come within 100 points of a record
high on Nov. 5, before sliding, with the market roiled by scandals -- including issue of telecom licenses at low prices and a bribes-for-loans scam that saw eight financial industry executives arrested last week. India may have been deprived of up to $39 billion by selling cellular licences too cheaply, and late on Monday the new telecoms minister vowed action against holders of 85 licences that may not have met eligibility criteria and others that have failed to meet rollout requirements. Shares in property firm Unitech, which has a cellular joint venture with Norway's Telenor, and Videocon, which was among the telecom licence holders named in a government audit, fell more than 6 per cent in early trade. The stocks later recovered and Unitech closed up 4 per cent, while Videocon gained nearly 2 per cent. A Central Bureau of Investigation (CBI) source with direct knowledge of the matter said its probe in the bribes-forloans case, in which the arrested include executives from public-sector lenders, would be widened further to look into other state banks.-Reuters
ANNOUNCEMENTS Company Mirpurkhas Sugar Chenab Limited
Period Yearly 1st Qtr
Div/Bon/Right PAT (Rs in mn) 15%D 20%B 84.30 -614.16
EPS(Rs) 11.99 -5.34
NEW YORK: Wall Street declined on Tuesday as the latest data on home prices in the United States underlined the obstacles on the economy's road to recovery and added to lingering worries about the euro-zone debt crisis. Reflecting investors' mounting uncertainty, the CBOE Volatility Index VIX jumped 5.8 per cent to 22.78. Stocks opened lower and remained under pressure as the euro sank to a 10-week low against the US dollar, after a weekend rescue package for Ireland did little to stem fiscal concerns. The euro and stocks have been trading in sync with each other in recent weeks as European debt problems resurfaced, driving investors away from risky assets. In the United States, the latest S&P/Case-Shiller home prices data disappointed investors, as monthly prices fell more than expected in September, and prices from a year earlier rose more slowly than forecast. The Dow Jones US home construction index edged up 0.2 per cent after closing Monday at its lowest since July 2009. The Dow Jones industrial average fell 39.17 points, or 0.35 per cent, to 11,013.32. The Standard & Poor's 500 Index shed 5.94 points, or 0.50 per cent, to 1,181.82. The Nasdaq Composite Index slipped 24.87 points, or 0.99 per cent, to 2,500.34. BGoogle Inc weighed on the tech-heavy Nasdaq index following media reports that the company is close to a deal to buy local advertising website Groupon Inc in what could be the Internet giant's biggest acquisition to date. Google shares fell 3.2 per cent to $563.54. Global investors increased their exposure to equities in November despite weaknesses on many bourses, while US and British fund managers stepped away from crisis-hit euro-zone bonds, a Reuters asset allocation poll found.Reuters
Dhiyan
OUTLOOK SEEN GREENISH Zia Shaafi, Senior Equity Dealer Pearl Securities
The current bullish trend in the market is in its last lap. Here, the index is likely to see a major correction at 11,500-11,600 points level as there are no triggers ahead while institutions will also go for profits due to year-end. Investors are therefore advised to rake in as much profits as they can. Positive activities are expected to continue today.
Syed Faran Rizvi, Technical Analyst Invisor Securities
Market ignored the interest rate hike as technical indicators showed bullish trend where we are targeting the market towards 11,530 points. However, we still recommend traders to buy and order stop loss if market sinks below 11,118 points. They can invest in oil, banking, and fertiliser sectors.
6
Wednesday, December 1, 2010
Market Volume
165,170,389
Value
6,090,586,120
Trades
73,812
Paid up Cap(mn)
Advanced Declined Unchanged Total
Current High Low Change
254 131 24 409
All Share Index
11,234.76 11,284.93 11,158.69 h71.33
Current High Low Change
KSE 30 Index
7,818.10 7,850.10 7,763.76 h52.28
Current High Low Change
KMI 30 Index Current High Low Change
10,838.15 10,879.97 10,745.17 h92.98
17,999.33 18,075.17 17,826.34 h172.99
OIL AND GAS
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index
Performance of SR Industrial Transportation Index
Open 1,457.50 Turnover 10,332,279 P/E (x) 10.80 Company
KSE 100 Index
Symbols
High Low 1,475.62 1,452.66 Total cos Defaulter cos P/BV (x) ROE (%) 3.51 32.54
Close Change 1,463.52 6.02 Listed cap Market cap 65,194.15 mn 1,143,522.07 mn Payout (%) Div Yield (%) 55.94 5.18
PE
Open
High
Low
Close Chg
Volume
Attock Petroleum 691 5.62 Attock Refinery 853 7.55 BYCO Petroleum 3921 Mari Gas Company 735 16.22 National Refinery 800 4.03 Oil & Gas Development 43009 11.02 Pak Petroleum 11950 8.29 Pak Oilfields XD 2365 6.38 Pak Refinery Limited 350 PSO 1715 4.81 Shell Gas LPG 226 Shell Pakistan 685 10.39
318.44 128.34 11.91 119.08 262.75 163.76 201.47 266.87 81.46 282.76 38.05 200.00
326.00 134.75 12.14 120.79 275.00 164.50 205.00 272.40 84.83 286.10 39.50 203.99
319.00 128.49 11.88 119.02 264.45 162.50 201.70 267.10 81.70 282.50 37.01 199.05
324.38 5.94 134.75 6.41 12.01 0.10 119.72 0.64 271.63 8.88 162.87 -0.89 203.77 2.30 270.17 3.30 83.99 2.53 284.40 1.64 39.16 1.11 202.53 2.53
910741 3884541 2964166 74779 440215 663597 1029808 3377178 105694 658559 29686 68222
Last 60 days High Low 374.20 134.75 12.49 128.90 275.00 167.00 214.10 272.40 87.39 292.15 40.28 204.00
% Change 0.41 5-Day High 1,463.52 5-Day Low 1,452.52
2009 Div BR (%) (%)
287.99 250 78.00 9.90 106.00 32.17 100B 189.08 125 138.00 82.5 168.70 130 20B 216.50 180 48.26 238.10 50 27.75 182.05 330 -
2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
20 20B -
CHEMICALS
Open 731.63 Turnover 13,370 P/E (x) 5.60 Paid up Cap(mn)
Company Pak Int Cont. Terminal PNSC
1092 1321
High Low 741.47 731.65 Total cos Defaulter cos P/BV (x) ROE (%) 1.43 25.53
Close 736.32 Listed cap 3,242.17 mn Payout (%) 11.08
Change 4.69 Market cap 12,744.24 mn Div Yield (%) 1.98
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
7.20 38.12
71.06 35.75
72.00 36.30
71.60 34.72
72.00 0.94 35.07 -0.68
384 12986
77.77 41.00
60.05 34.00
Company
Paid up Cap(mn)
BOC (Pak) Clariant Pak Dawood HerculesSPOT Descon Chemical Descon Oxychem Ltd. Dewan Salman Dynea Pak Engro Corp. LtdSPOT Engro Polymer Fatima Fertilizer Fauji Fertilizer XD Fauji Fert. Bin Qasim Gatron Ind Ghani Gases Ltd ICI Pakistan Lotte Pakistan Mandviwala Nimir Ind Chemical Pak Gum Shaffi Chemical Sitara Chem Ind Sitara Peroxide Wah-Noble XD
250 273 1203 1996 1020 3663 94 3277 6635 22000 6785 9341 384 725 1388 15142 74 1106 42 120 214 551 90
PE
Open
High
Low
11.53 6.00 7.36 10.03 8.18 6.54 2.30 8.83 7.74 4.41 10.64 14.53 6.40
82.82 153.00 172.65 2.47 7.29 2.15 10.99 181.80 13.56 9.69 111.03 33.99 44.00 11.69 135.71 11.81 1.60 1.51 20.90 2.45 124.82 13.40 33.40
84.00 157.99 179.50 2.60 7.50 2.30 11.00 183.50 13.73 9.85 113.15 34.74 44.75 11.89 138.00 12.46 1.69 1.72 20.98 2.50 130.70 13.50 33.50
83.00 153.00 167.36 2.40 7.10 2.07 10.30 181.25 13.30 9.65 111.38 34.10 42.80 11.46 135.99 11.80 1.46 1.55 20.97 2.30 120.02 13.25 33.26
Close Chg 83.97 157.00 177.45 2.54 7.27 2.14 10.94 182.61 13.50 9.71 112.87 34.65 42.80 11.65 137.41 12.36 1.61 1.64 20.98 2.35 129.75 13.37 33.26
1.15 4.00 4.80 0.07 -0.02 -0.01 -0.05 0.81 -0.06 0.02 1.84 0.66 -1.20 -0.04 1.70 0.55 0.01 0.13 0.08 -0.10 4.93 -0.03 -0.14
Close 1,275.44 Listed cap 52,251.88 mn Payout (%) 48.81
Change 19.85 Market cap 282,762.98 mn Div Yield (%) 6.22
Last 60 days High Low
Volume 4932 9818 48179 61989 379460 5480209 3105 940060 1863470 232689 1644727 5121689 506 34202 289179 29608187 33735 1733552 101 2088 33570 81440 430
87.99 164.89 185.00 2.90 8.27 2.30 13.79 186.74 15.20 11.74 113.15 34.74 46.59 13.85 138.50 12.46 3.00 1.72 22.07 3.40 130.70 14.69 46.25
% Change 1.58 5-Day High 1,275.44 5-Day Low 1,255.43
2009 Div BR (%) (%)
2010 Div BR (%) (%)
66.90 90 15 149.72 125 159.00 40 10B 40 1.78 3.20 1.28 9.15 15 15 166.50 6010B 40R 40 11.20 - 27.5R 9.11 102.96 131.5 10B 95 26.59 40 - 17.5 37.00 20 7.41 116.00 80 55 7.85 5 0.80 1.16 17.90 10 1.80 101.00 75 25 7.67 32.00 50 50
5B -
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,073.66 Turnover 210,620 P/E (x) 5.58 Company
Paid up Cap(mn)
Century Paper Pak Paper Product Security Paper
707 50 411
PE 8.09 6.10
Open 16.10 40.52 39.54
High 17.04 42.50 39.50
High Low 1,100.50 1,077.68 Total cos Defaulter cos P/BV (x) ROE (%) 0.42 7.47 Low 16.32 40.01 39.49
Close Chg 16.72 0.62 42.06 1.54 39.50 -0.04
Close 1,091.55 Listed cap 1,186.83 mn Payout (%) 25.28
Last 60 days High Low
Volume 193062 7250 10308
Change 17.89 Market cap 3,025.30 mn Div Yield (%) 4.53
21.80 62.85 41.50
15.28 38.61 38.00
% Change 1.67 5-Day High 1,091.55 5-Day Low 1,065.20
2009 Div BR (%) (%)
2010 Div BR (%) (%)
- 425R 20 50 -
25 33.33B 50 -
Open 1,170.25 Turnover 916,158 P/E (x) 4.34 Paid up Cap(mn)
PE
High Low 1,194.52 1,169.32 Total cos Defaulter cos P/BV (x) ROE (%) 1.10 25.35
Close 1,178.67 Listed cap 6,768.53 mn Payout (%) 20.42
Open
High
Low
Close Chg
Volume
Agriautos Ind Atlas Battery Atlas Honda Dewan Motors Exide (PAK) General Tyre Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering
144 5.30 70.00 101 4.80 158.00 626 7.61 102.27 890 1.54 56 4.24 171.11 598 18.97 22.00 1428 - 12.00 786 5.98 260.06 823 11.80 73.99 150 3.68 19.37
70.00 161.91 105.89 1.60 179.66 22.50 12.00 266.98 75.00 20.00
69.00 158.99 103.95 1.50 175.00 22.00 11.90 259.99 73.89 19.27
70.00 0.00 160.73 2.73 105.00 2.73 1.52 -0.02 179.66 8.55 22.01 0.01 11.99 -0.01 262.09 2.03 74.08 0.09 19.75 0.38
1859 11423 2868 804857 3753 10584 8651 20764 47799 3500
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Siddiqsons Tin
PE
565 3.90 675 555 9.25 1199 10.73 785 10.33
Open 24.60 2.90 15.06 51.43 9.10
High 25.08 2.98 15.29 52.89 9.10
Low 24.85 2.90 14.70 51.00 8.86
Close Chg 24.93 2.90 14.80 51.50 9.09
0.33 0.00 -0.26 0.07 -0.01
Close 979.00 Listed cap 3,596.11 mn Payout (%) 30.91
Change 5.84 Market cap 9,556.04 mn Div Yield (%) 9.50
Last 60 days High Low
Volume 25600 21000 6717 95255 1252
26.00 3.39 16.75 64.02 10.80
23.75 1.65 12.25 44.00 8.00
% Change 0.60 5-Day High 979.00 5-Day Low 973.16
2009 Div BR (%) (%) 10
30B -
2010 Div BR (%) (%) 30 40 7.5
Open 1,571.52 Turnover 419,573 P/E (x) 34.78 Company
Paid up Cap(mn)
Adam Sugar AL-Noor Sugar Ansari Sugar Baba Farid Bawany Sugar Chashma Sugar Clover Pakistan Colony Sugar Mills Dewan Sugar Habib Sugar Habib-ADM Ltd Hussein Sugar J D W Sugar Mehran Sugar Mirpurkhas Sugar Mirza Sugar National Foods Nestle Pakistan XD Noon Sugar Pangrio Sugar Premier Sugar Quice Food Sakrand Sugar Sanghar Sugar Shahmurad Sugar Shahtaj Sugar Shakarganj Mills Tandlianwala
58 186 244 95 87 287 94 990 365 600 200 121 490 143 70 141 414 453 165 109 38 107 223 119 211 120 695 1177
PE
Change 8.42 Market cap 42,575.64 mn Div Yield (%) 4.71
Last 60 days High Low
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Buxly Paints Cherat Cement Dadabhoy Cement Dewan Cement DG Khan Cement Ltd Fauji Cement Flying Cement Ltd Frontier Ceramics Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Pioneer Cement Shabbir Tiles Thatta Cement
PE
Open
High
Low
1828 866 6.57 858 182 14 956 27.41 982 13.00 3574 3651 117.71 6933 15.15 1760 77 2319 32 1288 13126 3234 6.75 5261 1.39 2228 361 798 492.50
3.20 62.92 1.74 20.00 10.05 11.99 1.70 1.95 27.81 4.98 1.88 1.77 5.91 0.54 7.08 3.03 74.43 2.94 6.82 9.10 18.88
3.20 63.25 1.79 20.45 9.60 12.18 1.69 1.98 28.47 5.04 1.89 2.50 6.90 0.79 7.20 3.09 76.30 3.04 6.99 9.00 19.70
3.20 62.00 1.50 19.71 9.60 11.95 1.66 1.81 27.72 4.99 1.76 1.82 5.61 0.55 7.05 2.99 74.44 2.90 6.70 8.30 18.10
Close 999.33 Listed cap 54,792.74 mn Payout (%) 19.04
Change 6.87 Market cap 71,928.53 mn Div Yield (%) 2.64
Close Chg
Volume
Last 60 days High Low
3.20 62.37 1.51 19.93 9.60 12.06 1.69 1.88 28.25 5.00 1.76 2.24 6.70 0.67 7.15 3.00 75.08 2.99 6.86 9.00 19.70
2000 103256 7000 19265 901 12400 501 512007 2744750 351088 42381 877 22068 128331 54662 366826 1626556 270668 262235 110 499
4.20 69.86 2.05 20.45 14.89 12.75 2.20 2.05 31.05 5.50 2.20 5.00 6.90 1.48 8.70 3.65 79.98 3.40 8.58 11.00 22.24
0.00 -0.55 -0.23 -0.07 -0.45 0.07 -0.01 -0.07 0.44 0.02 -0.12 0.47 0.79 0.13 0.07 -0.03 0.65 0.05 0.04 -0.10 0.82
2.80 57.60 1.01 14.01 9.60 9.51 1.30 1.30 23.40 4.52 1.70 1.18 2.11 0.25 5.50 2.71 65.80 2.51 6.56 6.30 18.00
2009 Div BR (%) (%) 50 40 -
20B 20R -
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 - 50R
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 949.56 Turnover 167,972 P/E (x) 2.74 Company Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Packages Ltd Siemens Engineering Tri-Pack Films
Paid up Cap(mn) 115 230
PE 2.55 -
Open 68.26 2.12
High 71.67 2.25
High Low 969.31 951.08 Total cos Defaulter cos P/BV (x) ROE (%) 1.20 43.91 Low 71.67 2.12
Close Chg 71.67 3.41 2.20 0.08
1067 4.59 49.50 49.99 49.30 49.98 389 2.58 3.10 2.80 2.80 844 54.20 105.11 106.40 105.01 105.69 82 10.74 1295.01 1333.00 1298.00 1301.35 300 8.25 112.34 114.38 111.65 113.05
0.48 0.22 0.58 6.34 0.71
Close 957.48 Listed cap 3,043.31 mn Payout (%) 15.55
Volume 30610 30798
Last 60 days High Low 71.67 2.64
1231 4251 25335 158 75489
Change 7.91 Market cap 35,739.48 mn Div Yield (%) 5.68
% Change 0.83 5-Day High 957.48 5-Day Low 948.86
2009 Div BR (%) (%)
2010 Div BR (%) (%)
34.00 1.70
-
-
20 -
25B -
61.99 45.75 3.84 1.60 112.75 98.00 1381.00 1068.75 114.38 93.00
30 32.5 900 100
10B -
25 900 -
10B -
Company
Paid up Cap(mn)
Company AL-Ghazi Tractor
Paid up Cap(mn) 215
PE
Dewan Auto Engineering 214 Ghandhara Ind 213 10.28 Hinopak Motor Millat Tractors XB
124 366
Open
5.12 212.48 0.72 11.10
- 134.08 6.44 491.84
High
Low
Close Chg
213.99 212.00 213.71 0.74 11.37
0.50 11.08
1.23
0.50 -0.22 11.10 0.00
138.50 133.01 137.51 496.80 491.57 492.45
3.43 0.61
2010 Div BR (%) (%)
40 100 80 50 100 5 -
90 100 60 20 150 10
20B 30B 20B
20B 20B
Close Chg 0.36 -0.79 0.75 0.01 -0.39 -0.11 2.35 0.01 0.19 0.23 -0.03 -0.97 3.85 0.63 2.90 0.00 0.25 0.17 0.95 -0.14 2.32 0.30 0.58 -0.01 0.06 3.47 0.32 0.99
Close 1,572.34 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
Change 0.83 Market cap 202,955.80 mn Div Yield (%) 0.88
Change 2.49 Market cap 32,290.00 mn Div Yield (%) 16.09
Last 60 days High Low
% Change 0.16 5-Day High 1,547.41 5-Day Low 1,535.10
2009 Div BR (%) (%)
2010 Div BR (%) (%)
3907
227.45
200.00
400
-
150
-
103 11046
1.00 18.80
0.21 10.55
-
-
-
-
233 77087
147.89 597.90
108.11 17.15 390.00 450
25B
650
25B
Total Assets (Rs in mn)
933.39
1.55
Total Equity (Rs in mn)
(252.05)
MA (100-day)
1.57
Revenue (Rs in mn)
0.00
MA (200-day)
1.79
Interest Expense
1st Support
1.46
Loss after Taxation
14.92
2nd Support
1.36
EPS 09 (Rs)
1st Resistance
1.80
Book value / share (Rs)
2nd Resistance
2.04
PE 10 E (x)
Pivot
1.70
PBV (x)
(300.50) (9.917) (8.32) (0.19)
KOIL closed up 0.02 at 1.62. Volume was 2,616 per cent above average (trending) and Bollinger Bands were 47 per cent narrower than normal. The company's loss after taxation stood at Rs13.075 million which translates into a Loss Per Share of Rs0.43 for the 1st quarter of current fiscal year (1QFY11). KOIL is currently 9.7 per cent below its 200-day moving average and is displaying an upward trend. Volatility is low as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into KOIL (bullish). Trend forecasting oscillators are currently bullish on KOIL.
Hayderi Construction Company Ltd
Last 60 days High Low
1300 16.90 10.50 1916 52.00 39.25 500 6.00 4.03 102 68.20 46.50 13203 3.49 0.85 46000 15.47 8.50 103 58.94 33.33 1818 4.00 2.54 232024 3.15 1.11 60355 36.00 26.05 2700 16.98 11.90 190 14.00 5.00 13934 81.95 62.00 4528 64.00 48.50 10126 62.77 53.64 7213 6.48 4.20 956 57.00 39.01 743 2080.00 1710.00 2341 14.84 10.20 4350 6.50 4.00 4600 48.81 32.50 500 3.40 1.60 500 3.50 2.11 220 14.90 13.00 5100 13.20 8.25 647 91.99 44.50 1565 7.24 3.21 1750 35.50 27.50
% Change 0.05 5-Day High 1,572.34 5-Day Low 1,554.54
2009 Div BR (%) (%)
2010 Div BR (%) (%)
10 40 35 40 40 35 25 600 50 30 10 15 100 -
15 40 0 12.5R 25 10B 15 20B 12 450 -
25B 30B 10B 25B 10B -
AL-Abid Silk Hussain Industries Pak Elektron Singer Pak Tariq Glass Ind Towellers Ltd
High Low 1,108.78 1,093.23 Total cos Defaulter cos P/BV (x) ROE (%) 0.34 10.64
Open
High
Low
115 2.82 106 1174 3.56 341 21.12 231 1.96 170 -
25.01 10.59 14.24 18.00 16.15 12.90
26.26 11.49 14.35 18.85 16.50 11.90
25.01 9.70 14.10 18.20 16.17 11.90
Close Chg 26.18 10.48 14.14 18.80 16.35 11.90
1.17 -0.11 -0.10 0.80 0.20 -1.00
Close 1,100.42 Listed cap 3,763.71 mn Payout (%) 6.27
Volume 105 102 58713 1240 5110 160
Change 5.22 Market cap 5,150.35 mn Div Yield (%) 1.98
Fundamental Highlights As on Jun 30, 2009
Technical Analysis RSI (14-day)
48.88
Total Assets (Rs in mn)
26.22
MA (10-day)
0.63
Total Equity (Rs in mn)
18.45
MA (100-day)
0.94
Revenue (Rs in mn)
0.00
MA (200-day)
0.96
Interest Expense
1st Support
0.51
Loss after Taxation
2nd Support
0.41
EPS 09 (Rs)
0.00
1st Resistance
0.75
Book value / share (Rs)
2nd Resistance
0.89
PE 10 E (x)
Pivot
0.65
PBV (x)
(0.05) (0.008) 2.88 0.23
HADC closed up 0.13 at 0.67. Volume was 448 per cent above average (trending) and Bollinger Bands were 5 per cent narrower than normal. The company's loss after taxation stood at Rs0.073 million which translates into a Loss Per Share of Rs0.01 for the 1st quarter of current fiscal year (1QFY11). HADC is currently 29.9 per cent below its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into HADC (bullish). Trend forecasting oscillators are currently bearish on HADC.
NIB Bank Limited
Last 60 days High Low 35.00 11.49 15.43 24.14 18.80 20.00
25.00 9.10 12.82 16.51 14.50 11.90
2009 Div BR (%) (%) 7.5 5
10B 10B -
% Change 0.48 5-Day High 1,100.42 5-Day Low 1,090.21 2010 Div BR (%) (%) -20B 20R - 10B 17.5 -
PERSONAL GOODS Performance of SR Personal Goods Index Open 964.36 Turnover 21,205,344 P/E (x) 7.05 Company
Paid up Cap(mn)
Amtex Limited XD Annoor Textile Artistic Denim Aruj Garments Azam Textile XD Azgard Nine Bannu Woolen XD Bata (Pak) Blessed Tex Mills Chakwal Spinning XD Chenab Limited Crescent Jute D S Ind Ltd Dawood Lawrencepur Din Textile Ellcot Spinning Faisal Spinning Fazal Textile Gadoon Textile XD Gillette Pakistan Gulistan Spinning Gulistan Textile Gulshan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Idrees Textile Janana D Mal Kohinoor Ind Kohinoor Mills Kohinoor Spinning XD Kohinoor Textile Mian Textile Mohd Farooq Moonlite (PAK) Mukhtar Textile Nishat (Chunian) Nishat Mills Pak Leather Pak Synthetic Paramount Spinning Premium Textile Prosperity Ravi Textile Reliance Weaving Saif Textile Salfi Textile Sally Textile XD Sana Ind Sargoda Spinning Saritow Spinning Service Ind Shadab Textile Shahpur Textile Shahtaj Textile Shield Corp XD Suraj Cotton Tata Textile Thal Limited Treet Corp Yousuf Weaving Zephyr Textile Ltd Zil Limited
2415 9 840 62 133 4493 76 76 64 400 1150 238 600 514 204 110 100 62 234 192 146 190 222 716 3105 180 43 303 509 1300 1455 221 189 22 145 1586 3516 34 560 174 62 185 250 308 264 33 88 55 312 133 120 30 140 97 39 180 173 307 418 400 594 53
PE
Open
10.73 4.75 - 12.80 5.99 20.90 3.04 5.49 0.34 2.30 - 10.96 0.46 12.96 5.13 589.41 0.71 46.99 0.48 1.05 3.29 0.60 1.86 47.06 38.89 0.57 26.85 0.60 19.16 0.82 34.70 3.29 429.00 0.52 47.50 - 60.50 1.52 7.35 1.56 24.74 0.86 7.15 0.73 3.81 3.11 39.75 3.48 2.90 0.25 14.21 1.60 2.30 0.38 1.00 4.01 5.89 0.50 1.10 8.00 0.33 1.89 22.84 5.12 57.73 1.76 2.36 6.70 0.61 8.25 0.45 28.15 1.05 14.50 1.50 0.64 9.02 0.39 5.78 0.24 51.96 0.21 4.05 2.91 36.87 0.37 1.99 0.43 2.80 8.20 228.03 0.36 11.92 0.69 0.60 - 17.35 10.73 83.00 0.81 35.50 0.31 31.10 4.35 99.38 9.07 54.28 0.49 1.20 4.64 3.95 3.46 49.25
High
High Low 979.23 958.39 Total cos Defaulter cos P/BV (x) ROE (%) 0.61 8.64 Low
Close Chg
4.84 4.70 4.72 -0.03 13.00 13.00 13.00 0.20 21.90 20.80 21.56 0.66 4.50 4.50 4.50 -0.99 2.65 2.00 2.48 0.18 11.31 11.00 11.15 0.19 13.47 13.00 13.10 0.14 618.88 588.00 618.49 29.08 47.00 46.99 46.99 0.00 1.49 1.10 1.10 0.05 3.44 3.20 3.23 -0.06 0.80 0.75 0.78 0.18 2.05 1.90 1.91 0.05 40.75 39.05 40.00 1.11 26.44 25.62 26.44 -0.41 19.95 18.75 19.95 0.79 35.74 33.25 33.25 -1.45 435.00 410.00 412.19-16.81 48.00 47.00 47.95 0.45 62.00 62.00 62.00 1.50 8.15 7.50 7.97 0.62 25.94 24.75 25.94 1.20 7.80 7.00 7.08 -0.07 3.98 3.80 3.91 0.10 39.84 38.00 39.55 -0.20 3.24 3.20 3.20 0.30 15.21 14.20 15.21 1.00 1.94 1.60 1.62 0.02 2.49 2.10 2.49 0.19 1.30 0.95 1.05 0.05 5.89 5.60 5.62 -0.27 0.64 0.50 0.62 0.12 1.09 1.07 1.07 -0.03 8.50 7.00 8.50 0.50 0.90 0.34 0.50 0.17 23.33 22.50 22.77 -0.07 60.14 57.51 59.61 1.88 2.50 1.70 2.50 0.74 7.00 6.51 6.98 0.28 8.30 8.25 8.30 0.05 28.50 28.20 28.50 0.35 13.81 13.75 13.77 -0.73 1.68 1.44 1.56 0.06 9.97 8.50 9.20 0.18 4.80 4.80 4.80 -0.98 54.50 49.40 52.72 0.76 4.25 4.25 4.25 0.20 38.71 37.00 38.29 1.42 2.00 1.51 1.90 -0.09 2.64 2.15 2.64 -0.16 239.43 226.30 239.43 11.40 12.69 12.69 12.69 0.77 0.50 0.45 0.50 -0.10 17.70 16.35 17.70 0.35 87.15 85.00 87.15 4.15 36.45 36.10 36.10 0.60 32.65 31.00 32.27 1.17 102.70 99.70 101.79 2.41 56.99 53.95 56.99 2.71 2.00 1.05 1.40 0.20 3.55 3.50 3.53 -0.42 51.71 49.99 51.71 2.46
Close 970.48 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change 6.12 Market cap 129,023.79 mn Div Yield (%) 2.37
Last 60 days High Low
267932 18.88 500 13.00 10240 24.05 500 6.50 2479 3.45 1137867 12.32 3500 14.50 4617 747.48 4599 52.05 8161 2.59 9002 3.95 1501 1.90 155024 2.37 4001 44.50 1601 30.90 1520 25.45 5458 35.74 126 490.05 5005 52.50 112 73.00 858 8.86 4757 25.94 701 10.30 39044 4.88 26105 40.41 1101 5.35 8014 20.50 1173718 1.94 696 3.79 4504 2.00 14828 6.30 501 0.98 101 1.64 400 13.45 5527 0.95 5793282 25.14 11670461 60.14 1000 5.95 7102 7.48 156 11.25 1003 31.03 325 20.50 153357 2.38 3004 12.00 101 6.85 869 54.50 2010 6.20 25322 38.71 2250 2.50 192 2.99 59564 255.29 220 12.69 1401 1.90 6002 21.90 273 87.45 900 37.50 4600 35.50 265850 112.80 210133 56.99 78062 2.00 1848 4.90 9953 51.71
4.40 12.80 17.55 3.50 1.35 9.01 7.50 436.00 40.80 0.56 3.00 0.16 1.44 36.10 20.80 17.21 24.55 303.00 34.00 57.50 5.00 17.57 5.51 3.35 34.05 2.60 9.95 1.01 1.52 0.16 4.51 0.01 0.35 7.00 0.16 15.50 41.70 1.55 5.16 6.00 25.71 12.51 1.38 8.01 2.01 20.50 3.30 27.50 0.50 1.10 169.00 7.56 0.18 15.61 43.29 29.00 15.00 86.50 37.20 0.73 1.50 33.00
2009 Div BR (%) (%) 20 120 7.5 7.5 7.5 15 5 20 12.5 7.5 20 35 200 20 15 20 40
% Change 0.63 5-Day High 970.48 5-Day Low 964.36 2010 Div BR (%) (%)
30 20 7.5 20 50 5 5 20 35 50 - 100 70 10B 10 10B 10 10B 10 10 20 10 5 50R 15 25 10B 10 50 30 - 25SD 25 10 60 5 10 45 30B 10 50 25 20B 80 10B 35
10B 20B 45R 10B 20B -
PHARMA AND BIO TECH Performance of SR Pharma and Bio Tech Index
Close 1,542.31 Listed cap 1,336.62 mn Payout (%) 131.49
Volume
Low
PE
INDUSTRIAL ENGINEERING High Low 1,554.32 1,533.78 Total cos Defaulter cos P/BV (x) ROE (%) 3.11 38.02
High
Open 1,095.19 Turnover 65,431 P/E (x) 3.17
Performance of SR Industrial Engineering Index Open 1,539.82 Turnover 92,385 P/E (x) 8.17
63.01 131.00 92.50 1.16 121.10 21.00 9.65 215.99 69.25 17.92
2009 Div BR (%) (%)
56.02
MA (10-day)
HOUSEHOLD GOODS
20B -
% Change 0.69 5-Day High 1,008.49 5-Day Low 992.46
72.99 187.90 122.51 1.80 179.66 26.70 13.40 282.45 79.50 27.58
% Change 0.72 5-Day High 1,196.95 5-Day Low 1,170.25
RSI (14-day)
Performance of SR Household Goods Index
Performance of SR Construction and Materials Index High Low 1,011.37 987.30 Total cos Defaulter cos P/BV (x) ROE (%) 0.51 7.10
Open
High Low 1,599.40 1,561.33 Total cos Defaulter cos P/BV (x) ROE (%) 10.54 30.30
0.90 16.51 16.89 16.42 16.87 5.00 50.00 50.74 49.20 49.21 0.28 5.25 6.00 6.00 6.00 - 65.00 68.20 65.00 65.01 3.24 3.49 2.80 2.85 1.05 13.11 13.05 13.00 13.00 9.56 56.14 58.94 58.45 58.49 3.40 3.84 3.40 3.41 2.81 3.15 2.75 3.00 6.90 33.22 33.60 33.00 33.45 11.36 12.30 12.29 12.26 12.27 - 10.97 11.49 10.00 10.00 2.71 77.11 80.96 78.00 80.96 3.54 62.50 63.50 61.00 63.13 5.09 58.15 61.05 57.60 61.05 0.37 5.99 6.35 5.40 5.99 16.24 43.28 43.55 42.40 43.53 22.52 2049.84 2080.00 2050.00 2050.01 - 12.63 13.60 12.15 13.58 0.46 5.74 5.92 5.60 5.60 8.96 46.49 48.81 48.80 48.81 2.05 2.35 2.35 2.35 2.32 2.90 2.90 2.90 0.98 13.70 13.70 13.60 13.69 18.30 12.57 13.00 12.61 12.63 - 87.75 91.99 87.00 91.22 6.20 6.75 5.92 6.52 309.09 33.01 34.00 34.00 34.00
CONSTRUCTION AND MATERIALS Open 992.46 Turnover 6,528,786 P/E (x) 7.20
-
FOOD PRODUCERS
INDUSTRIAL METALS AND MINING High Low 995.30 970.50 Total cos Defaulter cos P/BV (x) ROE (%) 1.08 33.10
40 15
Fundamental Highlights As on Jun 30, 2009
Technical Analysis
Performance of SR Food Producers Index
Performance of SR Industrial Metals and Mining Index Open 973.16 Turnover 149,924 P/E (x) 3.26
20B -
2010 Div BR (%) (%)
Performance of SR Automobile and Parts Index
Company
High Low 1,281.50 1,253.28 Total cos Defaulter cos P/BV (x) ROE (%) 2.75 35.00
30
Kohinoor Industries Limited
% Change 0.64 5-Day High 738.27 5-Day Low 731.63
AUTOMOBILE AND PARTS
Performance of SR Chemicals Index Open 1,255.59 Turnover 47,312,640 P/E (x) 7.84
2009 Div BR (%) (%)
Alert ! Unusual Movements
Open 886.35 Turnover 40,493 P/E (x) 7.00 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Otsuka Pak Sanofi-Aventis Searle Pak
Paid up Cap(mn) 979 250 1707 165 200 100 96 306
PE
Open
8.77 99.50 6.34 83.22 13.36 73.17 7.20 26.42 6.45 7.86 7.57 34.15 10.18 128.00 5.57 61.03
High
High Low 909.73 885.80 Total cos Defaulter cos P/BV (x) ROE (%) 1.56 22.31 Low
Close Chg
100.99 99.05 100.06 0.56 85.88 83.12 84.00 0.78 76.00 73.00 74.27 1.10 26.98 26.00 26.00 -0.42 8.13 8.00 8.00 0.14 34.40 33.90 33.90 -0.25 131.00 128.00 128.00 0.00 62.44 61.90 61.90 0.87
Close 894.83 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 3193 2675 28419 4368 1003 606 127 101
104.00 124.00 76.00 26.98 9.00 34.70 139.50 64.50
78.00 82.20 65.00 22.60 6.10 27.50 115.90 57.00
RSI (14-day)
53.70
Total Assets (Rs in mn)
208,118.96
MA (10-day)
2.85
Total Equity (Rs in mn)
41,643.27
MA (100-day)
2.87
Revenue (Rs in mn)
18,272.36
MA (200-day)
3.45
Interest Expense
12,872.36
1st Support
2.89
Profit after Taxation
2nd Support
2.84
EPS 09 (Rs)
0.171
1st Resistance
2.95
Book value / share (Rs)
10.30
2nd Resistance
2.96
PE 10 E (x)
Pivot
2.90
PBV (x)
2009 Div BR (%) (%) 120 10 50 25 15 70 15
20B 15B
% Change 0.96 5-Day High 894.83 5-Day Low 882.69 2010 Div BR (%) (%) 20 30
20B -
691.05
0.28
NIB closed up 0.02 at 2.87. Volume was 656 per cent above average (trending) and Bollinger Bands were 26 per cent narrower than normal. The company's loss after taxation stood at Rs3.559 billion which translates into a Loss Per Share of Rs0.88 for the nine months of current calendar year (9MCY10). NIB is currently 16.9 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NIB (mildly bullish). Trend forecasting oscillators are currently bearish on NIB.
D. S. Industries Limited
Fundamental Highlights As on Jun 30, 2009
Technical Analysis RSI (14-day)
55.35
Total Assets (Rs in mn)
838.18
MA (10-day)
1.88
Total Equity (Rs in mn)
(298.62)
MA (100-day)
1.89
Revenue (Rs in mn)
653.74
MA (200-day)
2.37
Interest Expense
1st Support
1.85
Loss after Taxation
(984.14)
2nd Support
1.80
EPS 09 (Rs)
(16.402)
1st Resistance
2.00
Book value / share (Rs)
2nd Resistance
2.10
PE 10 E (x)
Pivot
1.95
PBV (x)
130.20
(4.98) (0.38)
DSIL closed up 0.05 at 1.91. Volume was 21 per cent above average and Bollinger Bands were 42 per cent narrower than normal. The company's loss after taxation stood at Rs31.558 million which translates into a Loss Per Share of Rs0.53 for the 1st quarter of current fiscal year (1QFY11). DSIL is currently 19.5 per cent below its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of DSIL at a relatively equal pace. Trend forecasting oscillators are currently bullish on DSIL.
BOOK CLOSURES Company
From
To
East West Insurance Co
1-Dec
7-Dec
10(B)
23-Nov
Dawood Hercules Chemicals #
2-Dec
8-Dec
-
-
8-Dec
Askari Gen Insurance
2-Dec
8-Dec
25(R)
-
-
Dawood Hercules
2-Dec
8-Dec
-
-
-
MCB Bank
3-Dec
10-Dec
30(iii)
25-Nov
-
Dawood Hercules Chemicals
7-Dec
13-Dec
20(ii)
29-Nov
-
Pakistan Premier Fund
7-Dec
14-Dec
-
-
Engro Corporation (Standalone)
7-Dec
21-Dec
20(ii)
29-Nov
-
Fauji Fertilizer Bin Qasim
14-Dec
20-Dec
12.50(iii)
-
-
Oil and Gas Development Co
14-Dec
21-Dec
15(i)
-
-
20-Dec
29-Dec
600
-
29-Dec
Siemens Pakistan
Change 8.48 Market cap 29,867.51 mn Div Yield (%) 6.36
Last 60 days High Low
Fundamental Highlights As on Dec 31, 2009
Technical Analysis
D/B/R
Spot AGM/Date -
14-Dec
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols
Open
High
Johnson & Philips Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co Shakarganj Food Shezan International Grays of Cambr XD Pak Tobacco Shifa Int.Hospitals PIAC(A) AKD Capital XD Pace (Pak) Ltd Netsol Technologies Pak Telephone
10 54 4.24 78.97 1.1 95.26 52.01 118 28.91 2.25 51.72 2.81 19.02 1.86
10.55 55 4.29 79 1.05 95 53.5 123.9 30 2.37 53.89 2.9 19.29 2.35
Low Close 9 55 4.18 78.2 1.05 95 50 118.26 27.85 2.21 50.02 2.82 18.92 2
9 55 4.2 78.3 1.05 95 50.08 119.13 27.86 2.27 52 2.84 19.12 2
Change -1 1 -0.04 -0.67 -0.05 -0.26 -1.93 1.13 -1.05 0.02 0.28 0.03 0.1 0.14
Vol 101 110 1057552 503 500 470 526 735 8792 94813 7005 245689 240829 501
7
Wednesday, December 1, 2010
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,138.31 Turnover 2,986,186 P/E (x) 6.18 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecom Co A Telecard XD WorldCall Tele Wateen Telecom Ltd
High Low 1,151.52 1,128.33 Total cos Defaulter cos P/BV (x) ROE (%) 0.79 12.84
PE
Open
High
Low
Close Chg
78 4.97 37740 12.85 3000 0.65 8606 6175 -
80.10 19.37 2.21 2.60 3.58
81.93 19.56 2.29 2.65 3.73
79.16 19.19 2.19 2.60 3.50
80.50 19.27 2.20 2.63 3.67
0.40 -0.10 -0.01 0.03 0.09
Close 1,133.85 Listed cap 50,077.79 mn Payout (%) 62.56
Last 60 days High Low
Volume 2024 1424727 1142069 417366 80015
Change -4.46 Market cap 78,545.60 mn Div Yield (%) 10.13
117.99 20.12 2.69 2.98 4.50
% Change -0.39 5-Day High 1,155.64 5-Day Low 1,133.85
2009 Div BR (%) (%)
78.00 17.55 1.80 2.31 3.35
70 15 -
-
2010 Div BR (%) (%) 80 17.5 1 -
-
Ask Gen InsuranceSPOT Atlas Insurance Central Insurance XB Century Insurance Crescent Star Insurance EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance Pak Gen Insurance PICIC Ins Ltd Premier Insurance Silver Star Insurance United Insurance XB Universal Insurance
204 7.18 369 5.80 279 6.88 457 7.09 121 1250 400 2.99 718 16.70 791 15.90 3000 41.92 250 1.65 350 303 5.46 253 4.35 400 2.05 210 -
12.29 34.80 58.50 10.93 3.75 46.83 12.20 88.98 59.35 16.12 6.96 7.31 9.82 6.99 6.20 2.96
Paid up Cap(mn)
Close 1,240.77 Listed cap 95,369.29 mn Payout (%) 104.13
Change 4.96 Market cap 100,948.87 mn Div Yield (%) 8.00
% Change 0.40 5-Day High 1,240.77 5-Day Low 1,224.99
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
2009 Div BR (%) (%)
Genertech 198 Hub Power 11572 6.68 Japan Power 1560 KESC XR 7932 Kohinoor Energy 1695 10.93 Kohinoor Power 126 2.73 Kot Addu Power 8803 4.81 Nishat Chunian Power Ltd 3673 3.13 Nishat Power Ltd 3541 24.98 Sitara Energy Ltd 191 3.47 Southern Electric 1367 Tri-star Power XD 150 -
0.98 36.63 1.70 2.27 19.25 4.22 39.41 13.40 14.49 18.50 2.20 1.01
1.04 36.90 1.83 2.40 19.85 4.48 39.85 14.34 15.49 18.64 2.24 1.14
0.87 36.03 1.70 2.25 19.34 4.09 39.43 13.32 14.55 18.16 2.16 1.00
0.94 -0.04 36.49 -0.14 1.71 0.01 2.31 0.04 19.68 0.43 4.47 0.25 39.58 0.17 14.28 0.88 15.49 1.00 18.61 0.11 2.19 -0.01 1.01 0.00
56105 827318 274299 795138 1387 420 152124 2324819 7822324 607 59819 9839
1.45 37.24 2.25 2.50 26.50 6.10 42.95 14.85 16.10 23.49 2.90 1.75
33.5 45 64.5 20 3
Company
0.51 32.75 1.20 1.94 18.40 3.90 38.35 9.65 9.60 17.98 2.05 0.33
31R -
2010 Div BR (%) (%)
Open 948.67 Turnover 5,819 P/E (x) 106.77
GAS WATER AND MULTIUTILITIES Open 1,602.60 Turnover 1,028,986 P/E (x) 10.26 Company Sui North Gas XD Sui South Gas
High Low 1,649.06 1,604.53 Total cos Defaulter cos P/BV (x) ROE (%) 1.17 11.41
Close 1,637.30 Listed cap 12,202.80 mn Payout (%) 66.79
Change 34.70 Market cap 35,016.54 mn Div Yield (%) 6.51
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 8390
8.54 3.46
27.63 22.72
28.85 23.15
27.75 22.70
28.69 1.06 22.96 0.24
717822 311164
34.75 30.70
% Change 2.16 5-Day High 1,642.08 5-Day Low 1,602.60
2009 Div BR (%) (%)
25.55 19.60
-
-
2010 Div BR (%) (%) 20 15
25B
BANKS Performance of SR Banks Index
Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 5.98 60.64 Askari Bank 6427 7.65 16.09 Atlas Bank 5001 1.67 Bank Alfalah 13492 12.29 9.52 Bank AL-Habib 7322 7.32 33.32 Bank Of Khyber 5004 5.72 4.29 Bank Of Punjab 5288 9.55 BankIslami Pak 5280 830.00 3.43 Faysal Bank XB 7309 4.59 14.16 Habib Bank Ltd 10019 6.63 104.05 Habib Metropolitan Bank 8732 7.82 25.65 JS Bank Ltd 6128 2.80 KASB Bank Ltd 9509 2.54 MCB Bank LtdSPOT 7602 9.15 204.72 Meezan Bank 6983 8.25 15.28 Mybank Ltd 5304 2.50 National Bank 13455 5.87 65.78 Network Mic Bank 300 1.23 NIB Bank 40437 2.85 Royal Bank Ltd 17180 5.43 Samba Bank 14335 1.86 Silkbank Ltd 26716 2.76 Soneri Bank 6023 7.12 Stand Chart Bank 38716 11.91 7.60 Summit Bank Ltd 5000 3.52 United Bank Ltd 12242 7.01 58.15
High
High Low Close 1,076.00 1,047.14 1,064.10 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.06 13.94 40.49 Low
Close Chg
61.88 60.10 61.52 0.88 16.34 16.00 16.07 -0.02 1.68 1.61 1.66 -0.01 9.70 9.55 9.59 0.07 34.00 33.40 33.98 0.66 4.32 4.00 4.29 0.00 9.77 9.53 9.67 0.12 3.48 3.30 3.32 -0.11 14.43 14.21 14.23 0.07 106.50 103.25 106.11 2.06 26.74 25.00 25.56 -0.09 2.90 2.80 2.89 0.09 2.70 2.52 2.59 0.05 208.70 204.25 206.33 1.61 15.98 15.30 15.60 0.32 2.54 2.25 2.26 -0.24 67.40 65.51 67.19 1.41 1.21 1.21 1.21 -0.02 2.91 2.85 2.87 0.02 5.55 5.00 5.02 -0.41 1.87 1.70 1.86 0.00 2.85 2.72 2.76 0.00 7.35 7.06 7.09 -0.03 7.75 7.50 7.74 0.14 3.58 3.15 3.21 -0.31 59.99 58.26 59.69 1.54
Volume
Change 12.30 Market cap 648,145.21 mn Div Yield (%) 5.32
Last 60 days High Low
253596 61.88 609018 16.65 55041 2.55 488042 10.19 677823 34.00 35444 4.70 858276 10.59 47310 3.88 14678 17.10 105077 108.79 289874 26.74 91000 3.00 105253 2.90 877956 210.00 2078 16.32 21400 2.75 4622080 70.75 1100 1.69 8392058 3.25 166686 8.39 584425 2.65 852736 3.08 257339 8.00 10171 8.00 226565 3.80 2383352 60.00
48.51 14.05 1.50 7.65 29.10 2.50 7.56 2.60 12.85 92.55 18.02 2.00 2.03 182.61 14.05 1.62 61.50 0.26 2.46 3.91 1.51 2.50 5.01 6.00 2.30 49.90
2009 Div BR (%) (%) 40 8 20 60 10 110 75 25
10B 20B 20B 10B 16B 26B 10B 5B 25B 10B
% Change 1.17 5-Day High 1,064.10 5-Day Low 1,048.08
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 746.80 Turnover 1,221,507 P/E (x) 12.46 Paid up Cap(mn)
Company Adamjee Insurance
PE
1237 23.34
Open 79.51
High 81.40
High Low 761.65 743.92 Total cos Defaulter cos P/BV (x) ROE (%) 0.65 5.20 Low 79.69
Close Chg 80.52 1.01
Close 752.95 Listed cap 11,111.34 mn Payout (%) 79.54
Volume 888701
Change 6.15 Market cap 46,875.62 mn Div Yield (%) 6.38
Last 60 days High Low 84.45
2009 Div BR (%) (%)
63.05
30
10B
% Change 0.82 5-Day High 752.95 5-Day Low 746.80 2010 Div BR (%) (%) 10
-
4227 14967 2381 8400 145 57416 10400 36199 883 174392 2009 656 18701 117 1316 597
12.75 36.54 62.69 12.00 7.90 48.63 12.85 92.00 60.50 17.20 7.95 8.30 10.30 8.17 7.20 4.00
8.45 27.10 47.37 9.42 3.10 34.76 10.04 66.41 52.21 12.50 5.06 1.66 8.00 6.00 4.03 1.77
40 20 40 35 35 30 30 5 20 -
10B 25B 8.7B 20B 25B 15B 20B 16B -
10 10 -
UPTO 100 VOLUME
25R 10B 20B -
High Low 967.95 938.37 Total cos Defaulter cos P/BV (x) ROE (%) 4.11 3.85
Close 951.41 Listed cap 2,290.72 mn Payout (%) 355.53
Change 2.74 Market cap 11,055.85 mn Div Yield (%) 3.33
Symbols
High
Low
Close Chg
Volume
Last 60 days High Low
2009 Div BR (%) (%)
EFU Life Assurance
850 47.28
82.76
86.88
83.10
83.22 0.46
4316
86.88
51.25
5513.33B
-
-
New Jub Life Insurance
627 31.41
47.00
46.80
45.75
46.80 -0.20
1501
48.33
39.68
10
2010 Div BR (%) (%) -
-
-
FINANCIAL SERVICES Performance of SR Financial Services Index Open 433.67 Turnover 15,464,654 P/E (x) 10.24 Paid up Cap(mn)
High Low 446.10 429.80 Total cos Defaulter cos P/BV (x) ROE (%) 0.29 0.91
PE
Open
High
Low
AMZ Ventures 225 1.25 Arif Habib Investments 360 3.61 Arif Habib Limited 450 13.59 Arif Habib Corp 3750 4.77 Dawood Cap Mngt. XB 150 1.13 Dawood Equities 250 First Credit & Invest Bank Ltd 650 13.54 Grays Leasing 215 IGI Investment Bank 2121 16.25 Invest and Fin Sec 600 680.00 Invest Bank 2849 Ist Cap Securities 3166 Ist Dawood Bank 626 0.70 Jah Siddiq Co 7633 JOV and CO 508 JS Global Cap 500 8.08 JS Investment 1000 28.63 KASB Securities 1000 Orix Leasing 821 5.14 Pervez Ahmed Sec 775 Saudi Pak Leasing 452 Trust Inv Bank 586 3.13
0.55 18.08 26.61 25.80 1.65 2.03 3.00 0.83 2.60 6.61 0.60 3.59 1.94 12.75 4.11 30.00 7.03 4.40 6.55 2.25 0.56 2.00
0.58 18.40 27.25 26.52 1.75 2.26 3.94 1.49 2.65 7.10 0.83 3.68 2.00 13.26 4.24 30.99 7.15 4.60 7.28 2.30 0.63 2.00
0.53 18.01 26.20 25.51 1.25 2.00 3.01 1.01 2.59 6.50 0.59 3.52 1.86 12.71 4.11 30.00 6.80 4.40 6.10 2.15 0.58 1.77
Close Chg 0.55 18.35 26.64 25.97 1.26 2.23 3.25 1.15 2.60 6.80 0.70 3.62 1.97 13.03 4.18 30.04 6.87 4.40 6.99 2.21 0.61 2.00
0.00 0.27 0.03 0.17 -0.39 0.20 0.25 0.32 0.00 0.19 0.10 0.03 0.03 0.28 0.07 0.04 -0.16 0.00 0.44 -0.04 0.05 0.00
Close 438.66 Listed cap 30,336.44 mn Payout (%) 99.56
Volume 98871 4400 58323 5605477 108002 2058 6254972 1011 152330 4193 2008 2598 20501 13815971 141497 2102 778563 14803 345 139057 16999 101003
Change 4.99 Market cap 30,448.98 mn Div Yield (%) 3.09
% Change 1.15 5-Day High 445.34 5-Day Low 433.67
Last 60 days High Low
2009 Div BR (%) (%)
1.10 19.98 34.00 27.02 2.14 2.70 4.50 2.90 2.88 9.00 1.00 4.80 2.84 14.05 5.38 40.00 7.59 4.70 7.29 2.70 0.86 2.98
15 25B 30 - 11.5 - 10B -243.778B 10 150 -231.08R -
0.42 13.00 24.40 20.90 0.86 1.51 2.00 0.18 1.17 6.16 0.44 2.54 1.31 8.80 1.96 24.25 5.10 3.20 3.66 1.35 0.42 1.24
2010 Div BR (%) (%) 20B 20B 10B -
Symbols
Performance of SR Equity Investment Instruments Index
Paid up Cap(mn)
Company
1st Fid Leasing AL-Meezan Mutual F. AL-Noor Modaraba Atlas Fund of Funds B R R Guardian Mod. Constellation Mod. Crescent St Mod. XD Elite Cap Mod. XD Equity Modaraba First Capital Mutual F. First Dawood Mutual F. Golden Arrow H B L Modaraba Habib Modaraba JS Growth Fund JS Value Fund KASB Modaraba Meezan Balanced Fund Mod Al-Mali Nat Bank Modaraba Pak Modaraba XD Pak Prem Fund PICIC Energy Fund XD PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Punjab Modaraba XD Stand Chart Modaraba U D L Modaraba XD
PE
264 1375 210 525 780 65 200 113 524 300 581 760 397 1008 3180 1186 283 1200 184 250 125 1698 1000 2835 2841 872 340 454 264
8.81 5.75 5.15 1.61 4.30 3.41 1.35 3.24 10.00 10.13 0.66 2.15 2.30 5.71 55.50 16.29 1.36 5.83 10.90 6.01 5.00 12.15 1.73 6.82 6.01 2.20 4.40 1.61
Open 1.47 6.70 2.94 4.25 1.92 1.48 0.58 2.59 1.62 4.20 2.08 2.91 6.89 6.51 4.25 4.18 1.35 5.97 1.11 6.00 0.98 8.66 5.69 9.75 4.80 0.92 1.50 8.90 5.73
High
High Low 1,194.07 1,143.72 Total cos Defaulter cos P/BV (x) ROE (%) 0.38 2.21 Low
1.66 6.93 3.09 4.25 1.96 1.69 0.58 2.60 1.75 4.06 2.10 3.05 6.89 6.70 4.50 4.69 1.90 6.07 1.11 6.49 1.09 8.79 6.15 10.75 5.39 0.97 1.79 9.00 5.73
Close Chg
1.31 6.70 2.75 4.00 1.80 1.50 0.54 2.59 1.50 4.02 2.01 2.85 6.51 6.59 4.30 4.15 1.85 5.95 0.95 6.49 1.00 8.66 5.65 9.72 4.74 0.91 0.50 8.80 5.65
1.41 6.90 3.09 4.00 1.89 1.50 0.54 2.59 1.60 4.05 2.08 3.01 6.89 6.62 4.44 4.56 1.85 6.06 1.09 6.49 1.00 8.75 5.95 10.64 5.29 0.97 1.45 8.97 5.65
-0.06 0.20 0.15 -0.25 -0.03 0.02 -0.04 0.00 -0.02 -0.15 0.00 0.10 0.00 0.11 0.19 0.38 0.50 0.09 -0.02 0.49 0.02 0.09 0.26 0.89 0.49 0.05 -0.05 0.07 -0.08
Close 1,182.21 Listed cap 29,771.58 mn Payout (%) 104.74
Change 33.70 Market cap 17,202.01 mn Div Yield (%) 9.49
Last 60 days High Low
Volume 15601 24610 300 20000 56468 506 10113 1200 57362 5745 20326 165449 7001 28701 737789 771425 304 11250 15132 200 21182 301409 95653 1199871 1256323 34161 518 24505 3991
2.24 7.20 3.80 4.50 2.37 2.99 1.10 3.09 2.37 5.50 2.10 3.88 6.91 7.25 4.50 4.73 2.23 6.69 2.18 8.00 1.40 9.39 6.15 10.75 5.39 1.20 2.54 10.99 6.99
1.01 5.85 2.10 2.63 0.90 0.90 0.20 1.65 0.76 1.02 1.30 2.32 4.80 5.56 2.65 2.31 0.52 5.15 0.56 4.50 0.30 7.00 4.20 7.70 3.50 0.76 0.50 7.75 4.71
% Change 2.93 5-Day High 1,182.21 5-Day Low 1,127.64
2009 Div BR (%) (%) 4.5 5 20 10 16.5 10
-
2010 Div BR (%) (%) 18.5 5 2.2 0 1.2 5 17 11 21 5 10 2.8 15.5 10 3 18.6 10 20 10 3 1 17 12.5
High
1.42 1.51 1.10 13.40 3.02 272.93 15.10 12.49 34.99 4.00 9.00 5.45 19.94 58.00 7.90 59.90 11.70 0.70 25.00 6.23 4.72 17.88 72.80 9.50 1909.00 895.51 17.95 56.80 0.99 5.02 4131.12 5.50 1050.00 20.51 40.00 8.85 34.00 5.71 329.00 279.99 35.65 2.60 6.15 3.28 3.84 3.00 0.70 7.28 5.95 26.00 39.00 17.01 2.75 2.45 0.60 244.00 2.60 19.99 24.01 117.69 5.50 45.00 69.95 21.51 870.00 9.33 70.00 11.75
1.40 1.75 1.09 12.40 3.49 274.23 15.50 13.24 36.70 4.10 9.50 5.99 19.05 58.95 7.40 60.00 11.70 1.04 25.75 7.23 4.89 18.25 73.00 9.50 1899.00 900.00 17.95 56.75 1.45 5.50 4204.79 5.35 1094.57 20.50 40.00 9.00 34.00 6.65 333.95 282.00 36.50 2.89 6.44 3.99 3.89 3.15 0.79 7.75 5.94 24.71 37.05 17.95 3.75 1.45 0.50 256.20 2.62 20.98 25.10 112.00 5.59 44.55 69.99 22.39 870.00 10.00 72.90 12.73
Low
Close
1.39 1.75 1.09 12.40 3.49 274.20 15.50 13.24 36.70 4.10 9.50 5.89 19.05 58.95 7.00 59.95 11.70 1.04 25.75 7.23 4.89 18.24 73.00 9.50 1825.00 895.00 17.95 56.75 1.45 4.07 4100.10 5.20 1090.00 20.47 40.00 8.02 34.00 4.80 322.02 271.00 36.50 2.50 6.44 3.45 3.89 2.00 0.45 6.30 5.89 24.71 37.05 17.95 3.29 1.45 0.31 256.20 2.62 20.98 25.10 112.00 5.59 44.55 69.99 22.35 870.00 9.50 72.90 12.71
1.39 1.75 1.09 12.40 3.49 274.22 15.50 13.24 36.70 4.10 9.50 5.94 19.05 58.95 7.20 59.99 11.70 1.04 25.75 7.23 4.89 18.25 73.00 9.50 1825.36 899.34 17.95 56.75 1.45 4.57 4124.00 5.20 1093.24 20.50 40.00 8.91 34.00 5.00 332.99 280.43 36.50 2.50 6.44 3.45 3.89 2.00 0.56 6.30 5.89 24.71 37.05 17.95 3.29 1.45 0.50 256.20 2.62 20.98 25.10 112.00 5.59 44.55 69.99 22.35 870.00 9.50 72.90 12.71
Change
Vol
-0.03 0.24 -0.01 -1.00 0.47 1.29 0.40 0.75 1.71 0.10 0.50 0.49 -0.89 0.95 -0.70 0.09 0.00 0.34 0.75 1.00 0.17 0.37 0.20 0.00 -83.64 3.83 0.00 -0.05 0.46 -0.45 -7.12 -0.30 43.24 -0.01 0.00 0.06 0.00 -0.71 3.99 0.44 0.85 -0.10 0.29 0.17 0.05 -1.00 -0.14 -0.98 -0.06 -1.29 -1.95 0.94 0.54 -1.00 -0.10 12.20 0.02 0.99 1.09 -5.69 0.09 -0.45 0.04 0.84 0.00 0.17 2.90 0.96
100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 83 53 50 50 50 42 35 31 30 15 12 11 10 7 7 7 6 5 4 4 3 3 3 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS
EQUITY INVESTMENT INSTRUMENTS Open 1,148.51 Turnover 4,887,298 P/E (x) 17.14
Open
TSMF TRSM AATM BCML IDSM IDYM NAGC QUAT SUTM GFIL INKL ISTM MSOT LIBM FECTC JVDC IDEN SGPL DADX MSCL GHNL MERIT ISIL KCL RMPL COLG AHTM MEHT TRPOL JKSM ULEVER DMTM UPFL FRSM FECS FNEL RCML AGSML LAKST PECO GVGL SCLL CSMD EMCO BFMOD SIBL KSTM ALQT SMCPL NOPK PHDL ALICO EWLA DMTX HAJT BHAT CML CRTM GATM SFL MLCFPS BCL KSBP ETNL WYETH BAPL MFFL DIIL
% Change 0.29 5-Day High 961.55 5-Day Low 944.44
Open
2010 Div BR (%) (%) 20 - 20B - 66R 55 -63.46R 10 -
-0.45 1.68 2.00 0.42 0.25 -0.45 0.34 1.02 -0.35 0.23 0.04 -0.14 0.28 0.01 0.06 0.23
PE
Company
Paid up Cap(mn)
Open 1,051.80 Turnover 21,801,813 P/E (x) 7.61
Paid up Cap(mn)
Company
50 - 7.8R 15 50 20 -
Performance of SR Gas Water and Multiutilities Index
11.84 36.48 60.50 11.35 4.00 46.38 12.54 90.00 59.00 16.35 7.00 7.17 10.10 7.00 6.26 3.19
LIFE INSURANCE
ELECTRICITY High Low 1,254.76 1,222.00 Total cos Defaulter cos P/BV (x) ROE (%) 1.22 9.35
11.66 34.80 58.50 10.97 4.00 46.05 12.41 90.00 58.00 16.00 6.50 6.81 10.00 7.00 6.25 2.21
Performance of SR Life Insurance Index
Performance of SR Electricity Index Open 1,235.80 Turnover 12,324,399 P/E (x) 13.01
12.75 36.54 61.25 11.48 4.69 47.40 12.85 91.00 59.00 16.49 7.95 7.17 10.15 7.00 7.20 3.20
-
Open
High
Low
Close
Change
Vol
NML-DEC
58.20
60.40
57.75
59.81
POL-DEC
269.41
274.80
269.05
272.67
1.61 5093500 3.26
684000
NBP-DEC
66.38
67.90
66.20
67.78
1.40
365500
DGKC-DEC
28.02
28.70
28.00
28.55
0.53
299000
FFBL-DEC
33.20
33.90
33.48
33.67
0.47
179500
LUCK-DEC
74.96
76.75
75.65
75.81
0.85
119000
PSO-DEC
285.70
288.60
284.75
286.94
1.24
109000
MCB-DEC
203.04
206.80
203.50
205.06
2.02
91000
ENGRO-DEC 181.66
183.00
181.10
182.15
0.49
PPL-DEC
202.38
204.75
202.99
203.72
1.34
67000
PTC-DEC
19.50
19.60
19.50
19.50
0.00
55000
ANL-DEC
11.09
11.48
11.17
11.26
0.17
NCL-DEC
23.21
23.15
23.01
23.02
-0.19
44500
AICL-DEC
80.43
81.55
80.50
81.20
0.77
44500
OGDC-DEC 162.00
162.20
161.50
162.04
0.04
12000
FFC-DEC
73000
46500
112.78
113.90
113.90
113.90
1.12
10000
AICL-CFEB
82.79
0.00
0.00
83.83
1.04
0.00
AKBL-CFEB
16.75
0.00
0.00
16.73
-0.02
0.00
ZERO VOLUME Symbols
Open
High
Low
Close
AGL
21.99
21.98
21.98
21.98
-0.01
0.00
0.49
0.15
0.15
0.15
-0.34
0.00
BILF
1.85
1.65
1.65
1.65
-0.20
0.00
BROT
0.71
0.70
0.70
0.70
-0.01
10.30
11.30
11.30
11.30
1.00
0.00
DATM
0.50
0.49
0.49
0.49
-0.01
0.00
ELCM
4.00
3.00
3.00
3.00
-1.00
0.00
BAPLR
CFL
GAMON HMIM ILTM KOHS KOHTM MDTL MQTM
1.50
1.51
Vol
0.00
1.51
0.01
0.00
0.99
0.80
0.80
0.80
-0.19
0.00
119.00
119.01
119.01
119.01
0.01
0.00
3.77
1.51
Change
3.92
3.92
3.92
0.15
0.00
1.39
1.30
1.30
1.30
-0.09
0.00
47.66
47.00
47.00
47.00
-0.66
0.00
7.26
7.35
7.35
7.35
0.09
0.00
NCLNCP
22.14
22.10
22.10
22.10
-0.04
0.00
NPSM
22.49
22.40
22.40
22.40
-0.09
0.00
RUPL
35.99
35.80
35.80
35.80
-0.19
0.00
BOARD MEETINGS
Nishat Mills Ltd
KSE 100 INDEX
National Bank of Pakistan
Fauji Fertiliser Bin Qasim Ltd
Company
Date
Time
TRG Pakistan Ltd ICC Textiles Ltd JS Investment Ltd
3-Dec 4-Dec 6-Dec
7:00 11:00 10:30
TECHNICAL LEVELS Company Allied Bank Limited
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
74.75
Support 1
11,166.70
MA (5-day)
11,166.68
Support 2
11,098.65
MA (10-day)
11,096.00
Resistance 1
11,294.75
MA (100-day)
10,251.49
Resistance 2
11,354.75
*Arif Habib Ltd AKD Securities Ltd
10,116.12
Pivot
Fair Value
Rs Recommendations
301
Buy
*Arif Habib Ltd AKD Securities Ltd TFD Research
296.6 281.35
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
67.62 261.32 235.09 233.29
*Arif Habib Ltd
Buy
AKD Securities Ltd
Positive
TFD Research
Technical Outlook Technical Analysis
Leverage Position
71.62 56.06 48.82 50.82
Fair Value
Rs Recommendations
35 32.06 29.1
Brokerage House
Buy
*Arif Habib Ltd
Accumulate
AKD Securities Ltd
Negative
TFD Research
Free Float Shares (mn) 175.80 Free Float Rs (mn) 10,479.43 ** NOI Rs (mn) 125.17 Mean 58.75
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Leverage Position
75.65 33.72 29.31 29.63
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
84
326.94 11,328.42 19.12 34.37
* Target price for Dec-10 & **Net Open Interest in future market
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
rently indicating that NML is currently in an overbought condition.
rently indicating that FFBL is currently in an overbought condition.
Brokerage House
Fair Value 42
Rs Recommendations Buy
Brokerage House
Fair Value
*Arif Habib Ltd
79
43.29
Buy
AKD Securities Ltd
56.82
Accumulate
AKD Securities Ltd
TFD Research
36.85
Positive
TFD Research
78.44
Positive
TFD Research
Technical Outlook
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
53.61 28.56 26.22 26.84
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
182.55 5,157.03 14.84 28.06
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
67.54 58.60 55.36 57.07
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
306.04 18,267.82 1.55 59.02
* Target price for Dec-10 & **Net Open Interest in future market
and Bollinger Bands were 14 per cent narrower than normal.
(trending) and Bollinger Bands were 2 per cent narrower than normal.
59.92
25.50
25.00
26.50
27.00
26.00
Arif Habib Limited
49.15
26.15
25.65
27.20
27.75
26.70
Adamjee Insurance
60.33
79.70
78.85
81.40
82.25
80.55
Askari Bank
58.13
15.95
15.80
16.30
16.50
16.15
Azgard Nine
52.58
11.00
10.85
11.30
11.45
11.15
Attock Petroleum
57.33
320.25
316.15
327.25 330.15 323.15
Attock Refinery
80.70
130.55
126.40
136.85 138.90 132.65
9.50
9.45
9.65
9.75
9.60
3.25
3.20
3.45
3.55
3.35
9.55
9.40
9.80
9.90
Dewan Cement
64.51
1.80
1.70
1.95
2.05
1.90
DGK Cement
53.61
27.85
27.40
28.60
28.90
28.15
Dewan Salman
73.81
2.05
1.95
2.25
2.40
Dost Steels Ltd
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
318.37 21,391.08 51.61 66.47
122.1 114.33
9.65
2.15
55.85
2.90
2.85
3.00
3.05
2.95
EFU General Insurance 60.57
45.80
45.25
47.15
47.95
46.60
EFU Life Assurance
65.95
81.90
80.60
85.70
88.20
84.40
Engro Chemical
57.42
181.40
180.20
Faysal Bank
41.25
14.15
14.05
Fauji Cement
52.37
4.95
4.90
5.05
5.10
5.00
Fauji Fert Bin
75.65
34.25
33.85
34.90
35.15
34.50
Fauji Fertilizer
65.52
111.80
110.70
113.55 114.25 112.45
Habib Bank Ltd
61.02
104.10
102.05
107.35 108.55 105.30
Hub Power
68.25
36.05
35.60
ICI Pakistan
68.32
136.25
135.10
138.25 139.15 137.15
Indus Motors
64.36
259.05
256.05
266.05 270.00 263.00
JOV and CO
57.59
4.10
4.05
4.25
4.30
4.20
Japan Power
60.59
1.65
1.60
1.80
1.90
1.75
JS Bank Ltd
57.59
2.80
2.75
2.90
2.95
183.65 184.70 182.45 14.35
36.90
14.50
37.35
14.30
36.45
2.85
Jah Siddiq Co
44.21
12.75
12.45
13.30
13.55
13.00
Kot Addu Power
45.61
39.40
39.20
39.80
40.05
39.60
KESC
60.89
2.15
2.40
2.45
2.30
Lotte Pakistan
76.92
11.95
11.55
12.60
12.85
12.20
Lucky Cement
54.58
74.25
73.40
76.10
77.15
75.25
MCB Bank Ltd
57.89
204.15
202.00
Maple Leaf Cement
55.50
2.90
2.85
3.05
3.10
3.00
National Bank
56.93
66.00
64.80
67.90
68.60
66.70
Nishat (Chunian)
53.68
22.40
22.05
23.25
23.70
22.85
Netsol Technologies
52.00
18.95
18.75
19.30
19.50
19.10
NIB Bank
53.70
2.85
2.80
2.95
3.00
Nimir Ind.Chemical
63.94
1.55
1.45
1.75
1.80
1.65
Hold
Nishat Mills
71.62
58.05
56.45
60.65
61.70
59.10
Accumulate
Oil & Gas Dev XD
66.66
162.10
161.30
PACE (Pakistan) Ltd
47.07
2.80
2.75
2.90
2.95
2.85
Pervez Ahmed Sec
52.34
2.15
2.05
2.30
2.35
2.20
PIAC(A)
51.37
2.20
2.10
2.35
2.45
2.30
Pioneer Cement
34.69
6.70
6.55
7.00
7.15
6.85
Pak Oilfields
67.62
267.40
264.60
272.70 275.20 269.90
Pak Petroleum
67.99
202.00
200.20
205.30 206.80 203.50
Pak Suzuki
49.06
73.65
73.20
PSO XD
58.32
282.55
280.75
PTCLA
50.27
19.10
18.95
Shell Pakistan
63.64
199.75
196.90
Sui North Gas
37.34
28.00
27.35
29.10
29.55
28.45
Rs Recommendations
Neutral
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
373.19 42,121.94 1.14 112.11
* Target price for Dec-10 & **Net Open Interest in future market
POL closed up 3.30 at 270.17. Volume was 160 per cent above average DGKC closed up 0.44 at 28.25. Volume was 19 per cent below average UBL closed up 1.54 at 59.69. Volume was 170 per cent above average FFC closed up 1.84 at 112.87. Volume was 217 per cent above average (trending) and Bollinger Bands were 62 per cent wider than normal.
62.55
Arif Habib Corp
56.74
Fair Value
65.52 110.53 107.63 108.12
63.80
50.77
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
63.10
53.17
Technical Outlook
Technical Outlook
61.30
Bank Of Punjab
127
AKD Securities Ltd
61.85
Bank Islami Pak
*Arif Habib Ltd
Buy
48.42
Bank Alfalah
oscillators are currently bullish on NBP.
Brokerage House
61.15
Attock Cement
Positive
Fauji Fertiliser Co
Rs Recommendations
Pivot
92.3
* Target price for Dec-10 & **Net Open Interest in future market
United Bank Ltd
2nd
Neutral
56.93 66.17 65.96 70.30
Buy
107.94 29,161.26 261.96 269.14
Buy
1st
Resistance 62.25 62.95
61.96
Technical Analysis
Neutral
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Rs Recommendations
NML closed up 1.88 at 59.61. Volume was 260 per cent above average FFBL closed up 0.66 at 34.65. Volume was 172 per cent above average NBP closed up 1.41 at 67.19. Volume was 80 per cent above average and (trending) and Bollinger Bands were 27 per cent wider than normal. (trending) and Bollinger Bands were 40 per cent wider than normal. Bollinger Bands were 43 per cent narrower than normal. NML is currently 17.3 per cent above its 200-day moving average and is FFBL is currently 17.7 per cent above its 200-day moving average and is NBP is currently 0.1 per cent above its 200-day moving average and is disdisplaying an upward trend. Volatility is relatively normal as compared to displaying an upward trend. Volatility is relatively normal as compared to playing an upward trend. Volatility is low as compared to the average the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NML (mildly bullish). Trend forecast- reflect moderate flows of volume into FFBL (mildly bullish). Trend forecast- volatility over the last 10 trading sessions. Volume indicators reflect volume ing oscillators are currently bullish on NML. Momentum oscillator is cur- ing oscillators are currently bullish on FFBL. Momentum oscillator is cur- flowing into and out of NBP at a relatively equal pace. Trend forecasting
*Arif Habib Ltd
Leverage Position
Fair Value
Technical Outlook
Technical Outlook
* Target price for Dec-10 & **Net Open Interest in future market
Technical Outlook Technical Analysis
Buy
Dera Ghazi Khan Cement Co Ltd
Pakistan Oilfields Ltd
Brokerage House
Brokerage House
65
74.2
11,226.70
mal. As far as resistance level is concern, the market will see major 1st resistance level at 11,294.75 and 2nd resistance level at 11,354.75, while Index will continue to find its 1st support level at 11,166.70 and 2nd support level at 11,098.65. KSE 100 INDEX is currently 11.1 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 INDEX (mildly bullish). Trend forecasting oscillators are currently bullish on INDEX. Momentum oscillator is currently indicating that INDEX is currently in an overbought condition.
Rs Recommendations
59.97
TFD Research
RSI (14-day) MA (10-day) KSE 100 INDEX closed up 71.33 points at 11,234.76. Volume was 91 per MA (100-day) cent above average and Bollinger Bands were 17 per cent wider than norMA (200-day) MA (200-day)
Fair Value
RSI 1st 2nd (14-day) Support 82.96 60.45 59.40
(trending) and Bollinger Bands were 7 per cent wider than normal.
2.25
208.60 210.90 206.45
2.90
164.10 165.30 163.30
74.75
75.45
74.30
286.15 287.95 284.35 19.50
19.70
19.35
204.65 206.80 201.85
Sitara Peroxide
58.82
13.25
13.10
13.50
13.60
13.35
POL is currently 15.7 per cent above its 200-day moving average and is DGKC is currently 5.3 per cent above its 200-day moving average and is UBL is currently 4.6 per cent above its 200-day moving average and is dis- FFC is currently 4.3 per cent above its 200-day moving average and is dis-
Sui South Gas
42.33
22.75
22.50
23.20
23.40
22.95
displaying an upward trend. Volatility is high as compared to the average displaying an upward trend. Volatility is high as compared to the average playing an upward trend. Volatility is low as compared to the average playing an upward trend. Volatility is relatively normal as compared to the
Telecard
41.29
2.20
2.15
2.30
2.35
volatility over the last 10 trading sessions. Volume indicators reflect mod- volatility over the last 10 trading sessions. Volume indicators reflect volume volatility over the last 10 trading sessions. Volume indicators reflect volume average volatility over the last 10 trading sessions. Volume indicators
TRG Pakistan
50.81
4.15
4.10
4.25
4.35
4.20
erate flows of volume into POL (mildly bullish). Trend forecasting oscilla- flowing into and out of DGKC at a relatively equal pace. Trend forecasting flowing into and out of UBL at a relatively equal pace. Trend forecasting reflect very strong flows of volume into FFC (bullish). Trend forecasting
United Bank Ltd
67.54
58.65
57.60
60.35
61.05
59.30
WorldCall Tele
52.03
2.60
2.55
2.70
2.75
2.65
tors are currently bullish on POL.
oscillators are currently bullish on DGKC.
oscillators are currently bullish on UBL.
oscillators are currently bullish on FFC.
2.25
8
Wednesday, December 1, 2010
VCs seek fed-led higher education LAHORE: Vice Chancellors Committee (VCC), comprising 77 heads of public sector higher educational institutions across the country, has demanded the federal government to continue its control on the higher education sector. This demand was raised during a joint press briefing after the meeting of vice chancellors here at Punjab University Old Campus. PU VC Prof Dr Mujahid Kamran, UET Peshawar VC Dr Imtiaz Gilani, National Textile University Rector Dr
Niaz Ahmed, PU Additional Controller Examination Zaheer Ahmed and other heads of universities also were present. The VCs were of the view that under federal control, the higher education sector would be addressed more effectively and the funds would be provided to small and large provinces equally. "A well functioning body is needed to develop, guide, and steer higher education while the Higher Education Commission must continue its current role and its autonomy
must be protected" the VCC meet said. They also asked the government to allocate a minimum of 4 per cent of GDP for education in the next budget. The VCs expressed dissatisfaction over the cut in education budget, adding that the government should put this sector on the top priority and exempt it from financial cuts under any circumstances. To a question, Dr Imtiaz Gilani said that the government was making efforts to get the abducted VC of Islamia
College University Peshawar Dr Ajmal Khan released. To another question, PU VC Dr Mujahid Kamran said that the inquiry against a PU senior professor Dr Iftikhar Baloch was underway for allegedly harassing a female employee of university. He said the inquiry committee will present its report on November 30. The committee appreciated the release of funds by government for the immediate requirements of universities including development grants and salaries.-APP
AIOU’s all post-grad exams from 6th ISLAMABAD: Examinations of all Postgraduate Programmes of the Allama Iqbal Open University for the Semester Spring, 2010 have been scheduled from 6th December, 2010. This was announced by Hafeez-Ullah, Controller of Exams, AIOU. Roll number slips have been dispatched to all the eligible/enrolled students at their given addresses by post. All those students who will not receive their roll number slips up to 4th December, 2010 are advised to contact the nearest Regional Office of the University or Superintendent Postgraduate Result Section, Examinations Department for issuance of Duplicate roll number slip. For duplicate roll number slips students are required to bring two passport size photographs duly attested by the gazetted officer. Roll number slip along with date sheet has also been placed on AIOU website for the convenience of students. All students are also advised in their own interest to read the instructions mentioned on roll number slip carefully before entering into the examination center.-Online
‘Tech matric’ launches in 6 districts of Punjab
ROME: Students hold a banner reading 'You are afraid of culture. Tear to pieces this government ' as they walk in center Rome trying to reach the Italian Chamber of Deputies to protest against the vote on an education reform on November 30, 2010. Riot police blocked all access to the center of Rome to prevent demonstrators to reach Montecitorio, the lower house of the Italian parliament. Students and academics are outraged at cuts of around nine billion euros (12 billion dollars) and 130,000 jobs in the education system that Prime Minister Silvio Berlusconi's government has engaged to carry out by 2013.-Reuters
Varsities reopen in KP ISLAMABAD: The students and teachers have appreciated opening of universities in Khyber Pakhtunkhwa (KP) which were closed as a protest against kidnapping of Islamia College University Vice Chancellor, Professor Ajmal Khan. The closure of education institutions across the province has badly affected curriculum and extra-curriculum activities, students of different universities said on Tuesday. Peshawar University student Sada Muhammad said opening of the universities is a very positive step for the students as our university remained close in current session for several months because of the floods and law and order. A student of the Journalism Department of Peshawar University said she was really happy over the beginning of classes in the province. A mother of a university student said, "Our children's education has suffered due to the closure of universities. I think closure of the institutions is harmful for the students." Peshawar University Teachers said, "We are happy over the opening of universities and observing symbolic strike for the recovery of Ajmal Khan." Provincial Minister for Information, Mian Iftikhar Hussain said closure of universities not only encouraged militants, but also wasted students' time. The Minister said he had issued instructions to the universities VCs to take steps to compensate students' time.-APP
BISE Larkana outs HSC-Part-I results LARKANA: The Board of Intermediate and Secondary Education (BISE), Larkana here on Monday evening announced the results of Higher Secondary Certificate (HSC) Part-I (Class-XI) Annual Examinations-2010, Humanities and Commerce Groups. According to the statistical data issued by the Controller BISE Larkana Muhammad Alam Thaheem, 3617 candidates (both boys and girls) were registered for the exams, however, 3551 candidates, including 2818 boys and 733 girls, form Humanities group, had appeared in the annual examinations-2010. The BISE Larkana covers Larkana, KamberShahdadkot, Shikarpur,
Kandhkot-Kashmore and Jacobabad districts and two talukas of Dadu District i.e. Taluka Khairpur Nathan Shah and Taluka Maher. Of the 3551 candidates 2856 were declared passed in six papers, 375 in five papers, 53 in four papers, 19 in three papers, 16 in two papers, 29 in one paper, and 29 students were declared failed in all papers, while the result of 166 candidates 229 has been withheld on various grounds. The BISE Larkana's result gazette further revealed that in Commerce Group, 569 candidates (both boys and girls) were registered from six districts i.e Larkana, Kamber-Shahdadkot, Shikarpur, Jacobabad, Kandhkot-Kashmore and
two talukas included Khairpur Nathan Shah and Mehar of Dadu district, out of which 566 candidates appeared in the annual examinations-2010. Of them 371 were declared passed in all the seven papers, 145 in six papers, 35 in five papers, 04 in four papers, 02 in three papers, only one candidate could not qualify in any of the papers and only one candidate pass in one paper, while the result of 8 candidates has been withheld on various grounds. The Controller of Examinations of BISE Larkana has asked the candidates not to contact BISE Larkana for marks sheets, as the same would be delivered to their respective institution.-APP
For uplift, country needs educated women: Taseer ISLAMABAD: Governor Punjab Salman Taseer has called on the educated women to come forward and play their constructive role in the development and prosperity of the country. Addressing the 10th convocation of Fatima Jinnah Women University here on Tuesday, he said the educated women have to play an important and active role for the betterment of the society. He said "due to their splendid success the future of the country is in safe hands." The Governor said that the country was facing difficulties for the last few years in the shape of natural disasters and
terrorism, but the nation dealt with these challenges bravely. He said "earlier we have settled 3.5 million people within three months which were displaced due to terrorism in Swat and Malakand." He said the students of 17 universities were taking part in the rehabilitation and relief activities of flood affected people. On the occasion, Federal Minister for Education Assef Ahmed Ali said, "We are living in a world of global competition and the knowledge can play an important role to put the country on the road to progress and prosperity." He said Fatima Jinnah Women University has progressed a lot
and the academic programmes of the university were in line with our national goals enabling the young women to discover their strength, identity, and their talents. Earlier in her welcome address the Vice Chancellor, professor Dr Saeeda Asadullah Khan congratulated the students and their parents wishing them a prosperous future. She also admired the students honoured with gold and silver medals for their dedication and outstanding achievements in their academic career. Later the Governor gave away gold and silver medals to the students who got distinctions in different disciplines of their studies.-NNI
LAHORE: Provincial Minister for Labour and Human Resources, Muhammad Ashraf Khan Sohna said Punjab government has started ' technical' matric programme in the workers welfare schools of six districts as a pilot project led by Punjab workers welfare board. Talking to a delegation of labourers here, the minister said that initially, classes has been started at workers welfare schools for boys in Gujranwala, Faisalabad, Shahdara and Sialkot and workers welfare school for girls in Multan. According to a handout issued on Tuesday, the minister said the students were being provided books, transport, and uniform free of cost under this programme and added that a project for setting up more worker welfare schools was in the pipeline. Sohna said that evening classes have also started in welfare schools in six districts, adding that a large number of children were getting education under this arrangement.-APP
CM Punjab praised as edu promoter LAHORE: Parliamentary Secretary Health Punjab Dr Saeed Elahi has lauded the services of the chief minister Punjab for the promotion of medical education. In a statement issued here, he said setting up of four new medical colleges in Punjab and increasing of four hundred seats in existing medical colleges were historic achievements of the chief minister Punjab which had opened new avenues for poor students to become a doctor. He said that the provision of free medical treatment to people of Punjab was a milestone in the history of Punjab.-APP
Development tied to better didactics ISLAMABAD: Director General of South Asian Strategic Stability Institute (SASSI) Maria Sultan has termed better teaching standards as imperative for attaining national progress. Addressing the closing ceremony of Roots National Olympiad-2010 as the chief guest, DG SASSI praised the efforts of the management & faculty of Roots School System (RSS) and setting precedence in Education Sector by delivering World Class Results. She said "young people are the spirit of our nation. They have vision and strength to face challenges, provide, solutions, and give hopes." "New education policy has been announced and we are introducing reforms to bring in qualitative change so as to raise the standard of education at par with interna-
tional standards", she added. We have embarked on a journey and to be able to enhance our quality of education we are imparting rigorous training to the teachers so as to equip them with the modern skills and knowledge to be able to educate our children in the best possible environment, she added. Addressing the audience Faisal Mushtaq Director RSS said, "We are committed to improve the educational experience of our students and with this in mind we came up with the idea of holding Roots Olympiad to stimulate interactive learning among the youth." At the end of the ceremony, awards were distributed among the winners and formally closing of Olympiad was announced with the pledge to come together with the same enthusiasm and spirit next year.-APP
IBA Convocation 2010 fetes spirit of excellence TFD Report KARACHI: The Institute of Business Administration (IBA) Karachi convocation was held here on Tuesday at the IBA Main Campus, University Road, Karachi. The convocation was celebrated in high-spirits with caps flying as 484 delighted students were awarded their degrees in the presence of IBA dean and director, faculty members, patrons and parents. Justice Muneeb Akhtar, the Sindh High Court Judge and Chairman IBA board of governors, graced the occasion with his presence as the chief guest. Numerous eminent personalities from the academia, corporate and public sectors also attended IBA's convocation this year. Justice Muneeb Akhtar congratulated the graduating students on their remarkable achievement. "Proud parents and class of 2010, Congratulations you did it!" exclaimed the chief guest jubilantly. He praised director IBA, Dr Ishrat Husain, for the progress IBA has made under his exceptional leadership. Around 484 students were
awarded degrees including 187 BBA graduates, 53 MBA Direct graduates, 50 MBA Through BBA graduates, 41 MBA Tax Management graduates, 26 BBA-MIS graduates, 17 BS graduates, 32 MBA-MIS graduates, 12 MBA-MIS Evening graduates and 66 MBA Evening graduates. Apart from the conferment of degrees the IBA Karachi also awarded various medals to students with outstanding academic records. Kanza Shahnawaz received the "Overall Best StudentGraduate Programme" gold medal and Maimoona Tariq received the "Overall Best StudentUndergraduate Programme" gold medal. The "MBA Tax Management Programme" gold medal was awarded to M Ali Asad Khan, "Overall Marketing" gold medal was awarded to Madeeha Saeed Sheikh and the "Overall Finance" gold medal was awarded to Mahrukh Shakil. The pair of Taimoor Zubair and Sohaib Masood won the gold medal for the "Best BS/MIS Project" and the Community Welfare Society won the gold medal for the "Best Student Society of the Year".
370 MPs degrees await verification ISLAMABAD: Degrees of 370 legislators has not been verified so far owing to absence of supporting documents, including matric and intermediate certificates. According to sources, the Higher Education Commission (HEC) has sent letters to the Election Commission of Pakistan (ECP) on many occasions to arrange credentials of the legislators. According to HEC's focal person Rahim Bux Channa they are in contact with Election Commission to get certificates and supporting documents from the members. The Election Commission plans to take more steps to secure
degrees from the legislators. "We are continuously raising the issue of submission of required documents and degrees by all lawmakers. The ECP is also trying its best to make the legislators comply with the existing rules and procedures," he said. A three-member committee formed by the Election Commission is holding hearings to ascertain cases of legislators and identify members with forged degrees. The Election Commission is pursuing cases of degrees on the directives of the Supreme Court and has also started the process of sending the cases of parliamentarians with fake degrees to lower courts for criminal action.-APP
HYDERABAD: MNA Salahuddin talking to a seminar on Citizens Speak Policy Consultation on Post-Flood Education in Sindh and Citizens Concerns here at the Press Club.-APP
9
Wednesday, December 1, 2010
Crude oil falls towards $85 as dollar rises LONDON: Oil fell towards $85 on Tuesday as the dollar hit a 10-week high on concerns about Europe's debt crisis and on worries over demand in China as it looks to brake energy demand growth and cool inflation. Traders also looked for more evidence that US oil inventories would drain with a surge in demand for heating as wintry weather swept across Europe and the United States. Oil prices climbed 2.4 per cent on Monday, led by futures for heating oil and gas oil, as cold weather raised expectations of higher fuel consumption on both sides of the Atlantic. US crude for January slipped 50 cents to $85.23 a barrel by 1458 GMT after rising $1.97 on Monday, when it briefly touched $85.90, the highest price since Nov. 12. Prices reached a 25-month high of $88.63 on Nov. 11. ICE Brent lost 30 cents to $87.04 after rising more than 2 per cent on Monday. The dollar index against a
Indian sugar drops on higher Dec quota MUMBAI: India's spot sugar price fell on Tuesday after government released higher-thanexpected non-levy quota for December, although slow pace of cane crushing limited the downside, dealers said. India has made available 1.5 million tonnes of non-levy sugar for December, higher than 1.4 million tonnes it had released for November, the government said in a statement on Tuesday. "The quota news hurt sentiments. It was higher than our expectations....demand was also weak from bulk-consumers," said Shrikant Karwa, a sugar dealer based in Phaltan, Maharashtra. In Kolhapur, a key market in top-producing Maharashtra state, the most traded S-variety fell by 0.94 per cent to 2,850 rupees ($62.09) per 100 kg. Unseasonal rains over the two key Indian sugar producing states have pared the recovery rate by nearly 1 per cent, initial reports show, and government and industry officials worry persistent rains could potentially hit output and trim exports. -Reuters
basket of currencies reached its highest since mid-September as the euro tumbled on continuing fears that Ireland's bailout might not help keep Europe's debt woes contained. In euro terms, Brent reached its highest level for almost seven months on Tuesday, climbing above 67 euros per barrel.
Robert Montefusco at Sucden financial said the weakness of the euro was putting increased pressure on oil. "That puts pressure on the fundamentals," Montefusco said. "Fear of contagion with not only Portugal and Spain, but now with France and Belgium in focus as well." "The longer the euro stays below 1.30 the harder it will be for oil to recover," he added. An industry report on inventories from the American Petroleum Institutes (API) is
due on Tuesday at 2130 GMT, followed by government statistics from the Energy Information Administration on Wednesday. US crude oil inventories probably fell by 400,000 barrels last week as imports dipped, a Reuters poll of analysts suggested, but analysts were divided with an equal number of them predicting a decline and an increase. Cold temperatures in the Northeast United States and northwestern Europe provided a boost to London gas oil and US heating oil distillate futures on Monday as the US December refined products contracts neared their Tuesday expiration. Factories in Japan and South Korea, Asia's second- and fourth-largest oil users, cut output in October, adding to evidence of a slowdown and boding ill for the rest of the world that has relied on the region to keep the global economy humming. -Reuters
Palm oil hits 28-mth high on demand, weather KUALA LUMPUR: Malaysian palm oil rallied to a 28-month high on Tuesday as traders bet on continued strong export demand amid lingering concerns over erratic weather in edible oil producing regions. Traders took positions ahead of a price outlook conference set to start on Wednesday in Indonesia where key analysts may likely paint a bullish picture for next year, pushing the market to its highest level this year. "The market always gets optimistic ahead of a price conference like that, but this time, there is some credibility as demand is strong and production is under pressure," said a trader with a foreign commodities broker. Benchmark February 2011 palm oil on the Bursa Malaysia Derivatives Exchange jumped as much as
2.3 per cent ringgit to 3,458 ringgit ($1,097), a level unseen since July 17, 2008. The contract later settled at 3,412 ringgit. Traded volumes more than doubled from the usual to 25,648 lots of 25 tonnes each. Malaysia's November palm oil exports rose as much as 19.2 per cent to 1.57 million tonnes from a month ago with orders from China almost doubling despite steps by the government release edible oil reserves to tame inflation. Demand from China may pick up further as the country prepares for the Lunar New Year holidays in early February. US soyoil for Dec delivery rose nearly 1 per cent in Asian trade. The most-active September soyoil contract on the Dalian Commodities Exchange jumped 1.7 per cent. -Reuters
Copper lifts on tight supplies, euro helps LONDON: Copper rose on Tuesday, supported by persistent concerns about supply tightness and as the euro trimmed losses after US data lifted risk sentiment. Benchmark copper for threemonth delivery on the London Metal Exchange closed at $8,360 a tonne from $8,220 at the close on Monday. The metal, used in power and construction, had peaked earlier in the day at $8,408, its highest in a week. "The euro trimming losses is clearly an issue. For copper, everyone is focusing on the supply issue for next year and expected deficit," Societe Generale analyst David Wilson said. "Out of all the metals, fundamentally copper still looks best placed to see more upside." Chile's Collahuasi, the world's No. 3 copper mine, said on Tuesday its operations were normalizing as it resumed talks with union leaders to end a strike that appears headed into a fourth week. Worries about nearby copper
supplies have pushed the premium or backwardation for cash material over the threemonth contract to around $50 a tonne -- its widest backwarda-
Shanghai copper rises Shanghai's benchmark third month copper contract rose 220 yuan to 62,530 yuan. In early trade, Shanghai copper touched a high of 62,850 yuan. Shanghai copper ended the month 0.2 per cent higher. tion since October 2008. A looming deficit in the copper market is expected to push copper prices next year above the record high of $8,966 hit earlier this month. Bolstering this outlook, LME copper stocks have fallen steadily since February, last down 800 tonnes to 355,750
tonnes -- their lowest since October 2009. Investors also kept close tabs on a dominant position controlling 50-80 per cent of cash warrants for both copper and nickel, subject to LME lending guidance. Aluminium closed at $2,275 versus $2,270. LME stocks for the metal, used in transport and packaging, jumped 6,800 tonnes to 4.28 million tonnes. Aluminium supply tightness may also be within sight, as a large portion of LME aluminium stocks are tied up in finance deals. Steel-making ingredient nickel closed at $23,050 a tonne from $22,400, while battery material lead was at $2,230 a tonne from $2,188. Zinc closed at $2,112 a tonne from $2,078 and tin, used in electrical solder, ended at $24,495 from $23,900. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for November 29 2010 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1320
1260
January (3rd Wednesday)
1320
1260
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for November 29 2010
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY
Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller
2220 2230 2190 2200 2145 2155 2145 2155
2255 2258 2273 2274 2338 2343 2393 2398
8319 2254.5 8319.5 2255 8255 2275 8260 2278 8060 2243 8070 2248 7690 2205 7700 2210
22750 22755 22820 22825 22475 22575 21875 21975
TIN
ZINC NASAAC
24350 2119 24400 2119.5 24350 2126 24400 2126.5 24015 2167 24065 2172 2147 2152
2210 2220 2230 2240 2245 2255 2295 2305
European vegetable oil prices ROTTERDAM: The following were the Tuesday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Jan11 938.00, Feb11/Apr11 943.00+3.00, May11/Jul11 945.00+3.00, Aug11/Oct11 948.00. RAPEOIL: Dutch/EU euro tonne fob exmill Feb11/Apr11 950.00+12.00, May11/Jul11 960.00+14.00, Aug11/Oct11 927.00+7.00. SUNOIL: EU dlrs tonne extank six ports option Jan11 1440.00+0.00, Feb11/Mar11 1420.00+0.00, Apr11/Jun11 1380.00+5.00, Jul11/Sep11 1405.00+5.00. LINOIL: Any origin dlrs tonne extank Rotterdam Dec11/Jan12 1265.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Dec10 1137.50+2.50, Jan11/Mar11 1135.00+7.50, Apr11/Jun11 1122.50+10.00. PALMOIL: RBD dlrs tonne cif Rotterdam Jan11 1162.50, Feb11/Mar11 1157.50. PALMOIL: RBD dlrs tonne fob Malaysia Jan11 1117.50, Feb11/Mar11 1112.50. PALM OLEIN: RBD dlrs tonne fob Malaysia Jan11 1127.50, Feb11/Mar11 1122.50, Apr11/Jun11 1097.50+7.50, Jul11/Sep11 1077.50+2.50. PALM STEARIN: Dlrs tonne fob Malaysia Jan11 1095.00+0.00. PALM FATTY ACID DISTILLATE: Dlrs tonne fob Malaysia Dec10 1010.00+0.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Nov10/Dec10 1550.00, Dec10/Jan11 1550.00+10.00, Jan11/Feb11 1550.00+10.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Nov10/Dec10 2050.00+0.00. Reuters
Tokyo rubber ends higher BANGKOK: Tokyo rubber futures rose to their highest in nearly a week on Tuesday, but gains were limited by fears that China would take further action to cool commodity prices, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for May delivery rose 2.9 yen to settle at 360.2 yen ($4.28) per kg, the highest since Nov. 25. "Rubber rose higher in line with oil prices. However, oil prices became weaker in the afternoon, as well as other commodities, on concerns over China's attempt to cool down the heated futures market," one dealers said. The most active Shanghai rubber contract for May delivery rose 230 yuan to finish at 30,880 yuan per tonne on Tuesday. The Shanghai Futures Exchange said on Nov. 25 it would raise margin requirements and widen daily price move limits on its contracts. Traders said such a move could trigger liquidation of speculative positions. Dealers said TOCOM rubber could rise further on Wednesday after prices finished above the psychological level of 360 yen per kg. -Reuters
KHARTOUM - SUDAN: A store owner weights onions for a customer in a small village in the northern part of Unity State in Southern Sudan. -Agencies
Gold hits 2-1/2 wk high on eurozone jitters LONDON: Gold rallied over 1 per cent to a 2-1/2 week peak on Tuesday and euro-priced bullion set a fresh record high as concern over sovereign debt levels in the euro-zone fuelled buying of the metal as a safe store of value. Spot gold was trading at $1,385.50 an ounce at 1643 GMT against $1,368.09 late in New York on Monday, having earlier touched a session high of $1,385.95. US gold futures
concerns over Portugal's financial health first battered the markets. Gold priced in euros was later at 1,061.74 euros an ounce. Physical buying in Asia remained supportive of gold prices. The world's largest gold-backed exchange-traded fund, SPDR Gold Trust, said its holdings rose to 1,286.603 tonnes by Nov. 29 from 1,285.084 tonnes on Nov. 22. The International Monetary
for December delivery rose $20.70 an ounce to $1,386.70. "Even the strong US dollar could not push gold in dollar terms lower," said Eugen Weinberg, an analyst at Commerzbank. "This suggests that the US dollar is not perceived as the primary safe haven right now, but rather gold." Spot gold was heading for a fourth consecutive month of gains, matching a similar winning run from November 2008. Bullion is up around 26.4 per cent in the year to date. Euro-priced gold jumped some 2 per cent to a fresh record at 1,067.93 euros an ounce and was on track for its biggest monthly gain since May -- up 9 per cent -- when
Fund has slowed the rate of selling its gold by 40 per cent in October from the previous month, as interest among central banks to own the metal as a hedge against economic uncertainty rose. Among other precious metals, silver was up 3.5 per cent at $28.07 an ounce against $27.12, 14 per cent higher on the month, and palladium was on track for its fifth straight monthly rise, up 7.9 per cent on the month at $695.97. Platinum was up 0.87 per cent at $1,657.49 an ounce. On a monthly basis, it bucked the overall positive trend in the complex, heading for a more than 2 per cent drop, its first monthly decline since August. -Reuters
Cocoa up as election results delayed LONDON: Cocoa futures rose on Tuesday as the market awaited delayed results from a presidential election in top grower Ivory Coast. Sugar futures were sharply down, weighed by indications that India is still likely to export, while coffee prices also slid. March cocoa on ICE rose $61 or 2.2 per cent to $2,816 a tonne by 1602 GMT while March cocoa on Liffe climbed 26 pounds or 1.9 per cent to 1,902 pounds a tonne. Raw sugar futures on ICE were also lower, under pressure partly from a stronger dollar. The market was also weighed by comments from the Indian Sugar Mills Association that the 2010/11 crop is expected to total 25.5 million tonnes. Dealers said a crop of that size may be sufficiently large to encourage the Indian authorities to allow exports. March raw sugar futures on ICE slid about 5 per cent to a low of 27.03 cents a lb before rebounding to 27.60 cents, still down 0.75 cent or 2.65 per cent. White sugar futures on Liffe also fell with March off $19.10 at $708.70 per tonne. Robusta coffee futures were marginally lower, weakened partly by a pick-up in the pace of harvesting in top robusta producer Vietnam. January robusta coffee futures on Liffe eased $5 or 0.3 per cent to $1,774 a tonne while March arabica futures on ICE dipped 1.85 cent or 0.9 per cent to $2.0080 per lb. -Reuters
US cotton limits up in market rebound NEW YORK: US cotton futures ended up by their daily limit in light trade on Monday as the market seemed to be consolidating ahead of a possible shot at topside technical targets in the next few sessions, analysts said. Speculative fund buying powered the market as cotton defied a rise in the dollar to a two-month high versus the euro. The key March cotton contract on ICE Futures US climbed by the 4.00-cent daily limit to end at $1.1576 per lb, with the session low at $1.121. Volume traded was light at about 14,200 lots, nearly two-
thirds below the 30-day average nical targets, analysts said. above 37,200 lots, preliminary Stevens said an extended Thomson Reuters data NY cotton early-trade showed. "Cotton is doing its ICE March cotton futures rose own little thing today," 0.94 cent to $1.167 per lb on volsaid Mike Stevens, an ume of 4,659 lots. independent cotton analyst in Louisiana. "It's going bounce could lift March back counter to the dollar. The mar- toward $1.26 or $1.36. ket is bouncing from an overThe near-term target would sold condition." be the 40-day moving average Cotton futures have lost at $1.193. Traders said China's about a quarter of their value cotton market provided little, if since hitting a record high any, inspiration. The May cotabove $1.57 per lb in early ton futures on the Zhengzhou November, basis the spot con- Commodity Exchange last tradtract. The March contract may ed at 25,130 yuan per tonne, up be heading for short-term tech- 425 yuan on the day. -Reuters
National Commodity Exchange Ltd Trading Summary Date
Commodity
30-Nov-2010 CRUDE100 30-Nov-2010 CRUDE100 30-Nov-2010 CRUDE100 30-Nov-2010 SILVER - SL500 30-Nov-2010 SILVER - SL500 30-Nov-2010 GOLD 01oz 30-Nov-2010 GOLD 01oz 30-Nov-2010 GOLD 01oz 30-Nov-2010 GOLD 100oz 30-Nov-2010 GOLD 100oz 30-Nov-2010 GOLD 100oz 30-Nov-2010 GOLD 30-Nov-2010 GOLD 30-Nov-2010 GOLD 30-Nov-2010 KILOGOLD 30-Nov-2010 KILOGOLD 30-Nov-2010 TOLAGOLD50 30-Nov-2010 TOLAGOLD100 30-Nov-2010 MINIGOLD 30-Nov-2010 MINIGOLD 30-Nov-2010 MINIGOLD 30-Nov-2010 MINIGOLD 30-Nov-2010 MINIGOLD 30-Nov-2010 TOLAGOLD 30-Nov-2010 TOLAGOLD 30-Nov-2010 TOLAGOLD 30-Nov-2010 TOLAGOLD 30-Nov-2010 TOLAGOLD 30-Nov-2010 IRRI6W 30-Nov-2010 RICEIRRI - 6 30-Nov-2010 RBD PALMOLEIN 30-Nov-2010 KIBOR3M 30-Nov-2010 KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
JA11 FE11 MA11 JA11 FE11 JA11 FE11 MA11 JA11 FE11 MA11 DE10 JA11 FE11 DE10 JA11 DE10 DE10 MON TUE WED THU FRI MON TUE WED THU FRI 02DE10 DE10 DE10 10-Dec 11-Mar
US$ 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
84.50 84.95 85.41 26.87 26.76 1360.90 1362.00 1367.00 1360.60 1365.60 1362.50 37550.00 37517.00 37588.00 37823.00 37546.00 43792.00 43792.00 38644.00 38589.00 38603.00 37800.00 38630.00 44407.00 44344.00 44541.00 44376.00 44450.00 2402.00 3289.00 4727.00 86.72 85.96
85.80 86.15 86.04 27.27 27.02 1377.50 1378.00 1379.20 1371.70 1377.00 1372.40 37951.00 37999.00 37795.00 37823.00 37741.00 44034.00 44034.00 38839.00 38882.00 38797.00 38811.00 38825.00 44637.00 44686.00 44744.00 44605.00 44720.00 2402.00 3298.00 4751.00 86.72 85.96
83.70 84.41 85.41 26.62 26.76 1356.00 1356.80 1359.00 1360.60 1361.50 1362.50 37540.00 37517.00 37588.00 37534.00 37546.00 43792.00 43792.00 38644.00 38589.00 38603.00 37800.00 38630.00 44407.00 44344.00 44360.00 44376.00 44392.00 3273.00 3289.00 4727.00 86.59 85.81
85.04 85.58 86.04 27.01 27.02 1371.70 1372.40 1373.40 1371.70 1372.40 1372.40 37769.00 37780.00 37795.00 37741.00 37741.00 44034.00 44034.00 38839.00 38882.00 38797.00 38811.00 38825.00 44637.00 44686.00 44588.00 44605.00 44621.00 3282.00 3298.00 4751.00 86.59 85.81
Traded Volume in lots 399 35 88 2,527 1,553 302 23 43 5 1 3 4 4 -
Previous Settlement Price 85.45 86.00 86.44 27.19 27.20 1366.80 1367.30 1368.40 1366.80 1367.30 1368.40 37716.00 37727.00 37743.00 37689.00 37700.00 43972.00 43972.00 38787.00 38828.00 38745.00 38759.00 38773.00 44574.00 44622.00 44527.00 44542.00 44558.00 3273.00 3289.00 4727.00 86.72 86.03
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 85.04 76 85.58 15 86.04 27.01 40 27.02 1371.70 1,245 1372.40 1,074 1373.40 98 1371.70 1372.40 3 1373.40 37769.00 5 37780.00 23 37795.00 37741.00 37752.00 44034.00 44034.00 38839.00 38882.00 38797.00 38811.00 3 38825.00 44637.00 44686.00 44588.00 4 44605.00 44621.00 1 3282.00 3298.00 4751.00 86.59 85.81 -
Serbian Davis Cup team captain Obradovic talks to Djokovic during a media conference in Belgrade
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Wednesday, December 1, 2010
Madonna wants you to have a toned body MEXICO CITY: She writes children's books and makes wine, dons a spandex leotard like no one else and has sold millions of albums around the world. Now she wants you to have a toned body. Madonna launched her new brand of "Hard Candy Fitness" gyms in Mexico City on Monday, opening a huge, 30,000-square-foot (2,787square-meter) compound where Mexico's rich and the beautiful can go through dance classes and fitness routines inspired by the singer's routines. So why choose a sprawling metropolis of some 20 million people, struggling with crime, pollution and endless traffic jams to kick off an international sports venture that may eventually include gyms in Russia, Brazil and Argentina? "I have a history with Mexico," Madonna, wearing a black and white-striped dress with boots, told Reuters. "I have a connection that I have always felt anyways because of my love and interest in Frida Kahlo," she added, referring to one of Mexico's best-known 20th century painters. Hundreds of screaming fans, from boys wearing "Mexicans do it better" T-shirts to drag queens in leg warmers, lined up outside the gym in a fruitless effort to get a glimpse of the singer, who arrived tightly protected by security. Guests at the launch included the capital's mayor, Marcelo Ebrard, and Carlos Slim Domit, the son of the world's richest man, Carlos Slim.-Reuters
Nat’l games from 25th at Peshawar LAHORE: The Organising committee of 31st National Games is meditative of including football and hockey as they are re looking to include two top games in the biennial Games. Khyber Pakhtunkhwa Sports Minister Syed Aqil Shah announced that the 31st National Games will take place from 25-31 December 2010 at Peshawar. National Games offer 25 sports for men and seven for women. Women swimming and shooting contests will be held in Islamabad due to lack of facilities in Peshawar, Authorities had earlier decided to include 28 games in the event but football, hockey and cycling were later dropped. "After Pakistan football and hockey team proved themselves in Asian Games, many people showered praise on the teams and now Pakistan Olympics Association (POA) are under think tank to include the thrilling outdoor sports in the event's fold," . Earlier, POA decided to exclude as many as 12 outdoor disciplines on grounds of security in the volatile North West Province of Khyber Pakhtunkhwa. However, POA was criticised for snubbing major sports from the national games and many advised to move the games from the province if the conditions were so bad. It will be sixth Games on Khyber Pakhtunkhwa after 1958, 1974, 1982, 1990 and 1998 at Peshawar that saw change of name by NA on 8 April this year. The same city saw the debut of football in 1982 with PAF winning the gold. "Certainly national games would not have the gloss without the beautiful games. APP
Barca bulldozes Real 5-0 BARCELONA: Barcelona conjured up a magical performance that rolled back the years to Johan Cruyff's "Dream Team" of the 1990s to crush arch-rivals Real Madrid 5-0 and move two points clear at the top of La Liga on Monday. In a festival atmosphere at their rain-lashed Nou Camp stadium, the Barca players entertained their ecstatic fans with a breathtaking display of free-flowing football that left Real's array of expensive talent chasing the ball for long periods. Watched by millions around the world, it was the Catalan club's most emphatic victory in Spain's "Clasico" since Cruyff's all-conquering side, featuring current coach Pep Guardiola, thrashed Real 5-0 in the 1993-94 season. It also put a severe dent in Real's resurgence under new coach Jose Mourinho, a former assistant at Barca who had led his side into the match undefeated in all competitions. Xavi and Pedro struck early to put Barca 2-0 up before David Villa scored in the 55th and 58th minutes to raise the noise levels to a deafening pitch. Substitute Jeffren added a fifth in stoppage time and Real defender Sergio Ramos was sent off for a badly-timed challenge on Lionel Messi at the death. Barca have 34 points from 13 of 38 matches, with Real on 32 and Villarreal in third on 27. "Today Barca were far superior and enjoyed playing in its own style," Spain striker Villa said in a television interview. "Madrid did not feel at ease
and did not know how to, or could not I think, dominate the midfield which is the strength of our team," he added. "We are two points clear, very happy, but we have to continue working as we are only in November and we need to carry on winning." The eagerly-anticipated clash between the world's two richest clubs was seen as a first genuine test of Real's resurgence under Portuguese Mourinho. Featuring 13 players from Spain's World Cup-winning squad, eight from Barca and five from Real, it also pitted Barca's Argentina forward Messi against the man he succeeded as World Player of the Year, Real's Cristiano Ronaldo. The champions dominated from the start on a slick playing surface that favoured their swift passing game, with Real sitting back and looking to strike on the counter. Messi curled a shot against the post in the sixth minute and after the home side went ahead four minutes later they never looked back. Xavi was played in by Spain team mate Andres Iniesta and he lifted the ball neatly over Iker Casillas from close range. The Spain midfielder was dictating the play and was instrumental in Barca's second in the 18th. He sprayed the ball wide to Villa and Casillas could only palm his cross into the path of Pedro who gleefully sidefooted home. Messi totally outshone Ronaldo and carved open the visitors' defence for both of Villa's goals as well as coming close to scoring several times in the second half.-Reuters
FIFA’s confidential biding report released
Eng, US are best revenue options ZURICH: World Cups held in England and the United States would meet all of FIFA's projected revenue targets and deliver bigger profits to world soccer's governing body than any of their competitors, according to a confidential report seen by Reuters. Both England, who are bidding for the 2018 finals, and the US, bidding for 2022, were given an unbeatable overall 100 per cent rating by management consultants McKinsey. McKinsey were commissioned by FIFA to analyse each bid across five key revenue streams: sponsorship, ticketing, hospitality, licensing and media rights. The report, which does not reveal FIFA's projected target figure, just each country's potential to meet it, has been sent to the 22 FIFA members who will decide the destinations of the two World Cups on Thursday. It will be discussed by the executive committee for the first time on Wednesday. The report, entitled FIFA's World Cup Host Candidate Assessment, gave England an overall 100 per cent rating for 2018, followed by Spain/Portugal with 91 per cent, Netherlands/Belgium 87 per cent and Russia 86 per cent. For 2022, it rated the United States top with an overall 100 per cent evaluation, followed
by Japan with 73 per cent, South Korea 71 per cent, Qatar 70 per cent, and Australia on 68 per cent. England scored 100 per cent in all five of the revenue stream areas, while the United States scored 100 per cent in four. All the European candidates for 2018 scored 100 per cent in media rights because McKinsey did not see a variation in revenue potential as all countries fall into the same European time zone for broadcasting matches. The biggest difference in any 2018 revenue stream came in hospitality in which England again scored 100 per cent and Russia 56 per cent. England also had the highest revenue potential in licensing and merchandising, likely to hit 100 per cent of its target figure, while Netherlands/Belgium scored 73 per cent. The report comes as a huge boost to England's bid for 2018 in particular, following the BBC's Panorama TV programme screened on Monday evening in the United Kingdom which alleged corruption at the head of world soccer's governing body. The McKinsey report comes after the publication of FIFA's Technical Evaluation reports following the visit of its inspectors in which England were also given the highest rating by the inspection team. Reuters
BARCELONA: Barca’s Xavi shoots to score past Real Madrid’s goalkeeper Casillas during their Spanish first division match.-Reuters
Lara terms Tendulkar as today’s Bradman DUBAI: Saluting the longevity of Sachin Tendulkar, West Indies great Brian Lara has described the Indian batting legend as the `Don Bradman` of modern era but refused to the compare the icons of different eras. Lara, himself a legendary left-handed batsman from the Caribbean, said what astonishes him the most about Tendulkar is his longevity. "I don`t think there is any race. Both are great players. Tendulkar has shown the world what he is capable of and his longevity in the game is something to be really appreciated," Lara said. "The time he will spend in the game, records are going to tumble. The fact that someone can be there from the age of 16 and still at the age of 37 perform brilliantly is something that I cherish more than anything else," he said. The West Indies player is of the opinion that Australian great Don Bradman, who ended his career with an incredible Test average of 99.96, and Tendulkar should not be compared as they played and flourished in different eras. "He is our period`s Don Bradman. Forget the difference in averages with Bradman but whoever I have spoken to who have seen very old players in action, they believe that he [Bradman] would not have averaged 99 in today`s cricket."-APP
Iqra beats AKU in varsity tennis KARACHI: Iqra University registered an exciting 3-2 victory over AKU Greens in the inaugural Inter University Tennis Championship at AKU Tennis courts here. Amir Dervesh and Asad Hussain played the main role in their team's triumph when they beat Omer Hayat Khan and Zalan Khan in the decisive doubles 6-0, 6-0 to win the match. Amir and Asad earlier won their singles. Amir beat Amman Fasahat 6-0, 6-3 and Asad beat Hassan Zeb 6-2, 6-3. Omer Hayat Khan defeated Yasir Ali 6-2, 6-4 and Zalan Khan beat Amjad Khan 6-0, 60 to win their matches for AKU Greens.-APP
Pak squad named for NZealand tour LAHORE: Pakistan Cricket Board has announced the national squad for the forthcoming tour of New Zealand here on Tuesday. Misbah-ul-Haq and Shahid Afridi have been retained as captains for Test and Twenty20 teams, respectively. Wi c k e t k e e p e r - b a t s m a n Kamran Akmal, veteran batsman Mohammad Yousuf and opening batsman Imran Farhat have been left out of the squad. Kamran, who was ruled out of Pakistan's recent series against South Africa in the United Arab Emirates after surgery for appendicitis, has been at the centre of matchfixing allegations. The International Cricket Council (ICC) reportedly issued notice to him regarding Pakistan's controversial defeat
against Australia in the Sydney Test in January. But there were reports in Pakistani media suggesting Akmal, 28, had contacted the ICC regarding his selection and was told that he was cleared for selection. Yousuf, 36, had to return home after a recurrence of a groin injury earlier this month and although he too was featuring in the domestic matches, selectors left him out. Also out of the team was former captain Shoaib Malik while Sohail Tanveer has made comeback in the national team.. Malik, 28, was also left out of the team against the South African series after performing poorly on the tour of England. The PCB has said that Wahab Riaz’s includion in the
team depends on his fitness. Twenty20 squad: Shahid Afridi (captain), Mohammad Hafeez, Ahmed Shahzad, Younis Khan, Umar Akmal, Fawad Alam, Adnan Akmal, Saeed Ajmal, Abdul Rehman, Abdul Razzaq, Umar Gul, Shoaib Akhtar, Tanveer Ahmed, Sohail Tanveer, Wahab Riaz. Test squad: Misbah-ul-Haq (captain), Mohammad Hafeez, Taufiq Umer, Younis Khan, Azhar Ali, Asad Shafiq, Umar Akmal, Adnan Akmal, Saeed Ajmal, Abdul Rehman, Umar Gul, Tanveer Ahmed, Sohail Tanveer, Wahab Riaz. Pakistan will play three Twenty20 Internationals, two Tests and six One-day Internationals on the 45-day tour. The squad for ODI series will be announced later. Agencies
Aussies under hard media criticism BRISBANE: Blame, not credit, was the bitter medicine required after England saved the first Ashes test at the Gabba with a record-breaking second innings, Australia's media decreed on Tuesday. Led by Alastair Cook's unbeaten 235, England batted through two days to rescue a dire position and take a morale boosting draw on Monday at a venue where Australia traditionally puts tourists to the sword. Australian captain Ricky Ponting was once again the whipping boy of a media more used to trumpeting winners and
champions than explaining why their team had failed to take more than one wicket in two days of cricket. "Ashes humiliation - Ponting lets Gabba test slip away," read the front page of the Australian, while Brisbane's Courier-Mail splashed the word "Clueless" over an unflattering picture of the Australia skipper. "Has Australian cricket really fallen this far? Is the national team really this bad?" Malcolm Conn, who would usually be emptying buckets of scorn over the tourists by this stage of the
series, wrote in the Australian. "Not since Allan Border desperately tried to hold together a rabble gutted by South African rebel tours in the mid-1980s has Australian cricket performed so poorly. "Anyone who had the misfortune of watching Australia's sadsack effort in the field yesterday could only worry that we're plumbing those depths again." It was against Border's weakened team that England last won the Ashes on Australian soil in 1986-87 but since then the contests have not even been close. -Reuters
ZURICH: CEO Sorokin and chairman Mutko of Russia's bid committee for the FIFA soccer world cups 2018 and 2022 address a news conference.-Reuters
International & Continuation
Wednesday, December 1, 2010
Ireland deal to calm markets: IMF
India GDP surges 8.9pc NEW DELHI: India's domestically-powered economy grew more than expected in the September quarter, defying weakness elsewhere and putting pressure on the central bank to tighten monetary policy although a rate increase next month still looks unlikely. Annual gross domestic product grew 8.9 per cent in the September quarter -- matching the revised figure for the previous quarter and above a Reuters' forecast of 8.3 per cent. "Governor Subbarao has strongly hinted that the RBI (Reserve Bank of India) will take a break from raising policy rates for the next one or two months, but the strong growth numbers today may change his mind," said Brian Jackson, strategist at Royal Bank of Canada in Hong Kong. "Inflation is still the number one policy focus, and we continue to expect more rate hikes in the months ahead, perhaps as soon as the next meeting in December," he said. The RBI's next policy review is on Dec. 16. Analysts polled by Reuters expect the central bank to raise rates by an additional 25 basis points by the end of March. Prime Minister Manmohan Singh's govern-
ment, facing parliamentary deadlock over a scandal in which telecom licences are alleged to have been granted too cheaply -- is under pressure to rein in inflation while keeping high economic growth on track. Consumer price inflation eased to an annual 9.7 per cent in October from 9.82 per cent the previous month, data showed on Tuesday. Wholesale price inflation, which is more closely watched as it covers a higher number of products, eased to 8.58 per cent in October from 8.62 per cent a month earlier. Strong growth in India contrasted with data on Tuesday from Japan and South Korea, where factories cut output in October adding to evidence of an Asia-wide slowdown and boding ill for the rest of the world that has relied on the region to keep the global economy humming. China's economy grew at 9.6 per cent in the September quarter, down from 10.3 per cent in the previous quarter. India's benchmark 10-year bond yield closed up 6 basis points on the day, despite further extension of liquidity easing measures by the central bank late on Monday, which disappointed markets that had
instead been hoping for a cut in banks' reserve requirements. Markets expect the RBI to hold rates steady during its policy statement in December, after Subbarao said early this month that the RBI was unlikely to raise rates for the next three months. However, the long end of the swap curve rose further than the short end on Tuesday, causing a bear steepening, reflecting market worries of a rate increase sooner rather than later -- or at least a more hawkish stance from the RBI. The benchmark five-year swap ended up 6 basis points on the day at 7.30 per cent, after touching 7.31 per cent, its highest since Nov. 11, while the one-year rate ended down 4 points at 6.78 per cent. Investment growth slowed on an annualised basis to 11.1 per cent from 19 per cent in the previous quarter, while annualised private consumption accelerated to 9.3 per cent from 7.8 per cent in the previous quarter, pointing to inflationary risks. The services sector, which accounts for over 50 per cent of GDP, grew 9.8 per cent in the September quarter, higher than 9.3 per cent in the previous quarter.-Reuters
DUBAI: The deal to bail out Ireland from its debt crisis will take time to reverse market momentum, but growth is likely to return in the short term, the IMF's first deputy managing director said on Tuesday. The extension of Ireland's deadline for plugging its budget black hole is also a positive step but the challenge to stabilise the country's financial system remain. "It isn't just a matter of showing that banks are adequately capitalised. You have to show that they have adequate access to funding," John Lipsky told Reuters Insider. "The European authorities have announced that a new round of (bank) stress tests will, in addition to examining issues of regulatory capital, will also look at the challenge of funding. And that may produce a different answer about the backup facilities that may be required to ensure confidence in the stability of banking systems," he said. Some analysts have described this year's health checks on European Union banks, which none of Ireland's lenders failed, as an irrelevance in light of the Irish bailout. The EU approved an 85 billion euro ($115 billion) rescue for Ireland on Sunday and outlined a permanent system to resolve Europe's debt crisis, in which private investors would gradually share the cost of any future default.-Reuters
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conveyed his felicitations to President Rajapaksa on the decisive defeat of terrorism in Sri Lanka, after many years of conflict. President Rajapaksa who reiterated appreciation for the assistance provided by Pakistan during Sri Lanka's fight against terrorism also elaborated on the steps taken by the government to return normalcy to the country, after a 30 year conflict. The spokesman said the President of Pakistan expressed appreciation for Sri Lanka's humanitarian assistance during unprecedented floods in Pakistan in July- August this year. Both leaders directed that officials of the respective Finance / Economic Ministries should meet soon to discuss measures to promote trade between the two countries, including through the extension of innovative lines of credit and/or barter. -Agencies
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services provided beyond credit and the quality of borrower information. A marked improvement in rankings is the result of the State Bank of Pakistan's proactive approach to microfinance regulations. SBP revisited a number of microfinance regulations amending rules to support microfinance banks (MFBs), such as lifting regulations that prevented them from accepting foreign currency loans from international investors and relaxing the limits on borrowers' annual income upward from Rs150,000 to Rs300,000 for general loans, and Rs600,000 for housing loans. Also, the loan classification criteria for MFBs were aligned with international best practices and industry norms. The EIU Report has validated the SBP's approach to microfinance development in Pakistan. SBP has adopted a five-year Microfinance Strategic Framework that is not only focused on policy, legal and regulatory framework for the microfinance industry, but also, strengthening the necessary infrastructure and supporting mechanisms to promote diversity and sustainability in the microfinance business. Under the Strategic Framework, SBP raised Minimum Capital Requirements for Microfinance Banks (MFBs) to ensure that only such sponsors venture to establish MFBs which have adequate financial resources to meet the present and future capital requirements. Moreover, the increased share capital will facilitate MFBs to meet the growing demand for investments in technology intensive infrastructure and information systems to deploy mobile banking services. Also, SBP will soon be launching the Financial Innovation Fund to support alternative delivery channels such as delivery of financial services through mobile phones etc. to bring down costs and improve microfinance viability. -Online
contracts. Name of Benazir Bhutto was struck off from the list due to her death while the court proceedings against Nusrat Bhutto were pending due to her ailment. -Online
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outflows in December," said a dealer. Dealers expect an outflow of an additional 500-600 billion rupees as corporate advance tax payments in mid-December, which could put further stress on the cash strapped banking system. The weighted average rate in the call money market was 6.59 percent compared with 6.77 percent on Monday, and that in the collateralised borrowing and lending obligation (CBLO) market was 6.24 percent, little changed from Monday's 6.23 percent. The volumes in the call market were a low 42.83 billion rupees compared with a total of 46.78 billion rupees on Monday. In CBLO it was 493.60 billion rupees versus previous 533.97 billion rupees. -Reuters
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Party (PPP) here on Tuesday, Prime Minister Syed Yousuf Raza Gilani said that Shaheed Benazir Bhutto furnished unforgettable sacrifices, adding PPP is the name of movement, mission, spirit and strength. He further said that they would continue the mission the Shaheed Zulfiqar Ali Bhutto and Shaheed Benazir Bhutto and lead the country in way to success. PM Gilani said that the incumbent government had completed the promises of Mohtarma Benazir Bhutto including NFC awards, provincial autonomy, and sovereignty of Gilgit-Baltistan and restoration of peace in Swat. He said the government had restored the sacked employees while remaining would also be reinstated on their posts. PM directed that the some 20,000 rupees should be issued instantly to the flood affected people while the federal government would issue one-lac to each victim. He praised the role media saying that media would be independently in democratic regimes and they believed on the positive criticism. Despite the severe flooding across the country, flour is not short in the country. Gilani said that the incumbent government completed record developmental works and they promoted the politics of reconciliation. He stated that the PPP would not be weakened as its roots stretched across the country. -Agencies
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due to terrorism. He hailed the role of the people of KhyberPakhtunkhwa in war against terror. Gilani said that the government is making strenuous efforts for the well-being of the people. He was of the view that provincial government must immediateContinued from page 12 ly restore all sacked employees. No #3 PPP manifesto is Roti, Kapra and Makaan and want to ensure measures are taken successfully," Lipsky said, speaking on the sidelines of a World Economic Forum (WEF) conference in that institutions and departments are strengthened, PM stressed. Dubai. The European Commission forecast on Monday that Irish Parliament is the supreme authority, adding government respect gross domestic product (GDP) would grow by just 0.9 percent its verdict thick and thin as we are living in a democratic country, next year, roughly half the level penciled in by the government PM said. Regarding sugar and flour crises, PM said that poor masses just a few weeks ago, and a fraction of the 3.25 percent Dublin would be provided with both items on durable prices while hoardwas originally forecasting. ers will not be allowed to play with price lists at any cost. "It would have been unrealistic to expect that a set of announceHe further added that PPP believes in politics of reconciliation ments over the weekend were going to completely reverse market momentum. To reverse this momentum will take some time, even rather than politics of vengeance. PM was flanked by federal ministers Syed Naveed Qamar, in the best of circumstances," Lipsky said. Some 35 billion euros was earmarked to help restructure the Rehman Malik, Najmuddin Khan, Arbab Muhammad Alamgir shattered banks, of which 10 billion will be an immediate capital Khan, Lal Muhammad Khan and Advisor to Prime Minister, Asma Alamgir on the occasion. injection and the rest a contingency fund. "Market participants will be skeptical initially, they will want to Continued from page 1 No #8 see actual performance on the economic measures and disburseclaims of expenditures incurred in this war are sent to the US on ment of the cash," Lipsky said. quarterly basis through proper channel. "The challenge for Ireland is to stabilize the financial system, to The army receives no direct payment from the US and it is the stabilize the fiscal situation, to give confidence in the sustainabil- govt of Pakistan that gets the payments and out of these payments ity of the economic environment for some time to come," Lipsky 40 per cent stays with the govt while the remaining is Army's said. share. Lipsky said European debt worries over the past year and Sources told that recently army had filed a claim of Rs11.59 bilIreland's bailout were not impacting growth in the Gulf oil-pro- lion but US raised certain objections on the receipts filed with the ducing countries. claims and only paid Rs7.9 billion out of which army only got "We don't see a direct connection. More important to the Gulf is Rs1.6 billion. the health of the global economy, especially the energy markets, Sources said that Army Chief General Ashfaq Parvez Kayani but also the strength of Asian economies that are emerging as tradhimself had raised the issue with President Asif Ali Zardari and ing partners for this region," he said. -Reuters Prime Minister Yousuf Raza Gilani during his meetings with them but no headway has been made in this regard. Continued from page 12 No #4 Sources add that difference of opinions also exist between with regard to summoning foreign co-accused had already been submitted in the court wherein it was stated that the summons of the Finance Ministry and Pakistan army's military accounts departforeigners could not be issued. ment in this regard. -Online It may be recalled that in the Cotecna Reference Begum Nusrat Bhutto, Asif Ali Zardari, A R Siddiqui and 6 Swiss officials are charged with obtaining 6 per cent commission in the pre-shipment
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ministers, 18 state ministers and 2 advisors. -Online
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Nearly a year passed since issuers of some of the major TFCs defaulted. While efforts for restricting the delinquent issuers continue, it is imperative the Mufap resolve the issue at the earliest. The pricing mechanism currently being followed by the Mufap often resulted is variation in calculated and actual prices. The situation emerges because Mufap used discount rate as benchmark. This jacks up price artificially. During the month of October 2010, Rs1.77 billion worth of TFCs/ Sukuks have been traded. In which Bank Alfalah fixed TFC's & Pakistan Mobile Communication floating TFC's traded almost 20 per cent of total traded value i.e. amount of Rs374 and Rs354 million respectively. Moving towards MoM increase in TFCs revaluation prices, Askari Bank TFCs issue date of 18th November 2009 up by 11.5 per cent to price at Rs100.50 at the end of October 2010 as compared to Rs90.13 at the start of month, offering yield of 14.66 per cent at ending price. Bank Alfalah TFC's having a fixed coupon of 15 per cent also surged 11.0 per cent to price at Rs97.50 till October 2010 as compared to Rs87.83 at the start of the month, followed by Pakistan Mobile Communication issued date of 28 Oct, 2008 up by 9.7 per cent to Rs86.60, offering yield of 20.15 per cent. On the flip side, Eden Housing Sukuk dropped 3.6 per cent during the month of October 2010, followed by Bank Alfalah floating TFC's & Engro Fertilizer PRP TFCs dropped 8.3 per cent & 8.6 per cent in October 2010.
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Bill as it was going to result in greater civilian control on the military, report said. According to the released documents, Kayani is using the parliament and the govt while staying in the background, the documents allege.
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strategic value for Beijing, according to leaked US documents. The memos published by whistle-blower website WikiLeaks also allege that China may have turned a blind eye to illicit North Korean missile parts exports and that the top leadership was behind cyberattacks on Google and US targets. Over an expansive dinner last year, the Chinese ambassador to Kazakhstan revealed that Beijing considers North Korea's nuclear program to be "very troublesome," according to one memo. Ambassador Cheng Guoping "said China hopes for peaceful reunification in the long-term, but he expects the two countries to remain separate in the short-term," said the leaked cable by US Ambassador Richard Hoagland and reprinted by Britain's Guardian newspaper. China has given a muted response to the leaks which have left key American allies red-faced by embarrassing revelations urging the United States to "properly handle" the issue. "We hope the US side will properly handle relevant issues," foreign ministry spokesman Hong Lei said when asked about the leaks, adding that Beijing did not "want to see any disturbances to ChinaUS relations." In one cable reproduced by The New York Times, a Chinese official whose name was removed said Beijing believed North Korea had "gone too far" after carrying out its second nuclear test in 2009 and firing a missile. The official told a US diplomat "that Chinese officials had expressed Chinese displeasure to North Korean counterparts and had pressed (North Korea) to return to the negotiation table," it said. "Unfortunately," the Chinese official was quoted as saying, "those protests had had no effect." "The only country that can make progress with the North Koreans is the United States," the official said, according to the cable. WikiLeaks has outraged the US government with its massive release of sensitive data. The memos became public a week after North Korea shelled a South Korean border island, killing four people and sending tensions soaring. China North Korea's main ally and economic lifeline has come under huge pressure to use its influence on Pyongyang to ease the situation, but so far, Beijing has refused to publicly condemn its neighbor.
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forces, leaked American diplomatic cables revealed on Tuesday. American officials said they had repeatedly rebuked the President and Afghan attorney general Muhammad Ishaq Alko for authorising the release of detainees over a three-year period. "Both authorise the release of detainees pre-trial and allow dangerous individuals to go free or reenter the battlefield without ever facing an Afghan court," said a cable dated August 2009 and classified as "secret" by then-US deputy ambassador to Afghanistan Francis Ricciardone. "Despite our complaints and expressions of concern to the GIRoA (Afghan government), pre-trial releases continue," it said. Internet whistleblower WikiLeaks has begun releasing a quarter of a million confidential US diplomatic cables, detailing embarrassing and inflammatory episodes in what the White House called a "reckless and dangerous action". They were pardoned "on the grounds that they were distantly related to two individuals who had been martyred during the civil war," the cable noted. The document said Karzai also intervened in a narcotics case involving the son of a wealthy businessman and one of his supporters. The president ordered a second investigation "without any constitutional authority" it said, which found the defendant had been framed. The latest cable strikes at the heart of Western fears that highlevel corruption within the Afghan government and judiciary is undermining the nine-year war against the Taliban. Last week the attorney general, a key ally of the president, was accused of playing politics over a criminal probe into the country's fraud-marred parliamentary elections that were held in September. The probe has queried the disqualification of 24 poll candidates by the country's top electoral body. -Reuters
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their movements after their release, a US diplomatic memo released by WikiLeaks revealed on Tuesday. "I've just thought of something," Abdullah blurted during a March 2009 meeting with White House counter-terrorism advisor John Brennan. The two were discussing the fate of 99 Yemenis still held at the time in the controversial US military prison at Guantanamo Bay, Cuba. The king proposed the prisoners be implanted with electronic microchips so that after their release they can be tracked "with Bluetooth" technology, a US embassy report on the meeting said. Abdullah explained that "this was done with horses and falcons," according to the memo. But "horses don't have good lawyers," Brennan replied. -APP
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partner despite the massive leak of secret diplomatic cables. "Obviously this is a matter of great concern because we don't want anyone in any of the countries that could be affected by these alleged leaks to have any doubts about our intentions, and about our commitments," she told reporters. Her Japanese counterpart Seiji Maehara told a new conference: "It's just outrageous. It's a criminal act." US officials insisted they would pursue WikiLeaks creator Assange, an Australian believed to be living in Europe, if he is found to have violated US law. Assange described the mass of documentation in an interview with Forbes magazine as a "diplomatic history of the United States" covering "every major issue." Venezuela's President Hugo Chavez, a long-time US critic, praised Assange while Ecuador even offered the 39-year-old sanctuary. "We are going to invite him to come to Ecuador so he can freely present the information he possesses and all the documentation, not just over the Internet but in a variety of public forums," Kintto Lucas, Ecuador's deputy foreign minister, told the Internet site Ecuadorinmediato. An international arrest warrant was issued in mid-November for Assange on suspicion of rape and sexual molestation of two women in Sweden. Chavez praised Assange for his courage and said Clinton should resign over the revelations in the leaks. "The empire stands naked... Mrs Clinton should resign," Chavez said in a speech, using his favourite description of the United States. "It's the least you can do: resign, along with those other delinquents working in the State Department." China urged the US to get a grip on issues related to the leaking of the secret diplomatic cables. "We hope the US side will properly handle relevant issues," foreign ministry spokesman Hong Lei said when asked about the leaks. The leaked cables contained allegations that China turned a blind eye to illicit North Korean missile parts exports and that the top Chinese leadership was behind cyberattacks on US web search giant Google and US targets. "We don't want to see any disturbance to China-US relations," Hong added during a regular press briefing. Another cable quoted Chinese officials calling the erratic North Korean regime -- China's ally -- a spoiled child and said Beijing would be willing to accept a reunited Korea. Iran cast doubt on the authenticity of the documents and told its Arab neighbours not to fall into the whistleblower's "trap."
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suicide attack. One eye witness told the media that he saw a man going towards the police van and after a few minutes there was a huge blast. -Online
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government's figure," Sheikh told Reuters. "Our assessments are that the production will be nearly 6 million tonnes. We are now aiming to export about 4 million tonnes of rice this year on good global demand." Reap's export target tops previous trader estimates by almost a million tonnes. The government in September estimated losses of up to two million tonnes from the August floods. Before the floods, the food ministry expected 6.1 million tonnes for the 2010/11 crop. The reason for the increased estimate, Sheikh said, is that the monsoon floods, which devastated more than 2.4 million hectares of farmland, did not affect the rice crop in the Punjab province, which produces 60 per cent of the total national output. Production losses in the second-largest rice growing province of Sindh were estimated at about 500,000 tonnes, but that would largely be offset by the better yield in Punjab, Sheikh said. The president of the Agri-Forum Pakistan agreed with the REAP's production estimates. "Despite losses in Sindh, our production estimate is between 5.7 million tonnes and 6.1 million tonnes, as per-acre yield in Punjab has increased by up to 10 percent," said Ibrahim Mughal. -Reuters
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urea were recorded at Rs853 per bag, showing a surge of 0.2 per cent MoM against price of Rs851 per bag recorded in September 2010. However, average retail price of DAP during October 2010 stood at Rs2713 per bag compared with Rs2628 per bag during September 2010, showing an increase of 3.2 per cent MoM. On the other hand, cumulative offtake of urea decreased by 8.8 per cent to 4.62 million tonnes in 10MCY10 compared with 5.06 million tonnes in 10MCY09, while DAP sales down by 14.7 per cent at 1.05 million tonnes versus 1.23 million tonnes in 10MCY09 mainly due to higher average prices.
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President visits Sri Lanka's largest apparel manufacturer
Zardari ends Lanka tour on high note
COLOMBO: President Asif Ali Zardari is seen off at the Bandranaike International Airport Colobo by Prime Minister of Sri Lanka DM Jayarne, on the conclusion of 4 days visit to Sri Lanka. -APP
Auto cos not allowed to exploit people
Carmakers come under PAC fire ISLAMABAD: Special committee of Public Accounts Committee (PAC) has warned car manufacturing companies in the Pakistan that day to day hike in the prices of cars on their part and their monopoly in the market will not be tolerated. Committee met here Tuesday under Khawaja Saad Rafiq. Committee said the companies were committing breach of the agreement by not manufacturing cars at country level, adding these companies would not be allowed to exploit the people. Giving remarks Khawaja Asif said car-manufacturers were part of the class of Pakistani society which was exploiting Pakistani nation. As to why a country which is making atomic bomb cannot
manufacture engines of the vehicles, he questioned. If the manufacturing companies think that they will continue to exploit the people by exercising their influence then voice will be raised in the Parliament against this state of affairs, he cautioned. If car manufacturing companies give assurance to the government to manufacture the cars at domestic level and bring them at par with international standard quality wise then the government will assure them for not importing old vehicles and providing them other facilities, he added. Car-manufacturers alleged that 65 per cent of the tax being paid by them to CBR is swallowed in corruption. Online
Irish deal to take time to calm mkts DUBAI: The deal to bail out Ireland from its debt crisis will take time to reverse market momentum, but growth is likely to return in the short term, the IMF's first deputy managing director said on Tuesday. The extension of Ireland's deadline for plugging its budget black hole is also a positive step, but the challenge to stabilise the country's financial system remain. "It isn't just a matter of showing that banks are adequately capitalised. You have to show that they have adequate access to funding," John Lipsky told Reuters Insider. "The European authorities have announced that a new round of (bank) stress tests will, in addition to examining issues of regulatory capital, will also
look at the challenge of funding. And that may produce a different answer about the backup facilities that may be required to ensure confidence in the stability of banking systems," he said. Some analysts have described this year's health checks on European Union banks, which none of Ireland's lenders failed, as an irrelevance in light of the Irish bailout. The EU approved an 85 billion euro ($115 billion) rescue for Ireland on Sunday and outlined a permanent system to resolve Europe's debt crisis, in which private investors would gradually share the cost of any future default. "It is not going to be easy, but we expect growth is going to resume in relatively short order if the appropriate See # 3 Page 11
CAA grounds Russian planes in Pak ISLAMABAD: Civil Aviation Authority (CAA) has imposed a ban on all flights of Russian planes from airports all over the country on Tuesday. The decision was made as a result of the Russian cargo plane crash near Dalmia, Karachi late Saturday night. According to a private TV channel, the instructions regarding the ban imposed on the flights of Russian planes have been sent to the administration of all main airports. All Russian planes will remain grounded at airports until new orders are issued. The staff of these planes is allowed to stay in Pakistan, if it wants. According to international aviation rules, no plane will be stopped from landing in Pakistan, but take-off can be banned. -Online
COLOMBO: President Asif Ali Zardari on Tuesday visited Brandix Lanka - the largest exporter of apparel in Sri Lanka engaged in developing, manufacturing and marketing end-to-end apparel solutions for global fashion superbrands. The company specialises in casuals and active wear, woven and knitted fabrics and a host of apparel industry accessories. The President evinced keen interest in the different processes involved in the research and development, design, manufacture and marketing of the apparel world wide. He said Pakistani textile industry can benefit from the experiences of the company and improve their reach in the international market. Foreign Minister Shah Mahmood Qureshi, Defence Minister Chaudhry Ahmed Mukhtar, Chairman Board of Investment (BOI) Saleem Mandviwala and other members of his entourage accompanied the President. Meanwhile, the spokesman to the Pakistan Presidency has issued Monday a detailed statement on the Zardari's visit to Sri Lanka. According to the statement,
Pakistan and Sri Lanka have agreed to promote their bilateral relations to news peaks in various areas of mutual interests during the visit of President Asif Ali Zardari to Sri Lanka. During the visit, the President of Pakistan was received by the President of Sri Lanka, who hosted a banquet in his honour. The two leaders held official talks. The official discussions between the two sides were marked by friendship, mutual respect and understanding. The President of Sri Lanka and the President of Pakistan agreed that the civilizational heritage of Sri Lanka and of Pakistan provided the foundation to build a vibrant and multifaceted partnership. Sri Lanka - Pakistan relations have matured and diversified with the passage of time, encompassing key areas of contemporary relevance. In keeping with their vision of the future of Sri Lanka - Pakistan relations, the two leaders agreed that there is much scope to increase cooperation and to further harness the enormous potential available for consolidating and strengthening the bilateral partnership by building on
shared values, leveraging common concerns and interests, enhancing connectivity between the two countries, increasing the synergies of their economies and, reinforcing the institutional framework for cooperation. Both leaders agreed on the need for an increase in the frequency of high-level visits between Sri Lanka and Pakistan, including at the Summit level and at the level of the Parliaments, especially based on Parliamentary Friendship Associations established in each of the national Parliaments. The two leaders witnessed the signing of the Visa Abolition Agreement for holders of Diplomatic and Official Passports, Memorandum of Understanding on Agricultural Cooperation, Agreement on Cooperation and Mutual Administrative Assistance in Customs Matters and Agreement on Co-operation in the field of Arts & Creative Studies between the National College of Arts of Pakistan and the University of Visual and Performing Arts of Sri Lanka. The President of Pakistan See # 1 Page 11
Microfinance Framework
Pak tops regulatory ranking KARACHI: Pakistan has topped the ranking in the microfinance regulatory framework category released by the Economist Intelligence Unit (EIU), a business information arm of the Economist Group - the publisher of the world renowned magazine, The Economist. The EIU Report provides annual
ranking and in-depth analysis of the microfinance business environment in 54 countries. It evaluated the countries on three distinct microfinance criteria: (1) the regulatory framework, including official legal recognition, interest rate restrictions, market distortions, capital requirements and regulatory
capacity; (2) the general investment climate for microfinance providers, especially accounting standards, governance tendencies and transparency requirements; and (3) the level of microfinance institutional development, as measured by market concentration, the range of See # 2 Page 11
Forces kill 5 terrorists in Swat
SWAT: During the operation of the security forces in Swat and Buner 5 extremists were killed and heavy weapons were recovered from their possession. According to security forces in the area of Biyakand of Swat, two extremists entering from the Kabil district were asked to stop on suspicion but instead they open fired on the security forces and as a result they got shot. The names of the extremists are Azmat Ali and Izzat Mand belonging to Matta area. In another operation of the security forces on a tip off that 3 extremists were present in ‘Musharraf has clear policy about Israel’ Ailamsar ,the border area of Swat and Buner, and upon the operation of the security forces all 3 of them were killed. Their names are Latif-urRehman alias Abu Abbas, Shamsul Alam, and Dawood. According to the security sources Latif-ur-Rehman alias Abu Abbas Buner is considered ISLAMABAD: Spokesman to All that on the basis of two states, liberation to be a very important comPakistan Muslim League (APML) of Israel and Palestine is interlinked with mander of Taliban. -Online Tuesday defending its' chief Pervez each other after that Arabs could be conMusharraf's policies about Israel said vinced on giving guarantee of Israel that former president's stance was clear safety otherwise freedom struggle by on Israel and expressed its grave con- Palestinians would continue till eliminacerns over WikiLeaks documents. tion of Israel's occupation. The WikiLeaks documents reveal that AMPL spokesman further said that Israeli intelligence agency Mossad was during Pervez Musharraf's regime he concerned for former Pakistan President had made it clear on America several Pervez Musharraf's well-being and times that disputes of Kashmir and MUMBAI: Indian cash rates wanted him to remain in power in 2007. Palestine are root causes of terrorism in ended lower Tuesday, taking The revelation was made in a secret all over the world while resolution of comfort from the central bank's cable message originating from the these disputes could bring peace in the announcement of cash support measures late on Monday. American embassy in Tel Aviv. world. The one-day inter-bank cash In a statement here, spokesman to All The spokesman further said that the Pakistan Muslim League (APML) said point is in top in manifesto of AMPL rate ended at 6.55/6.60 per that former president Pervez that till freedom of Palestine, Israel cent, down from Monday's close of 6.70/6.75 per cent after Musharraf's stance over Israel was clear would not be accepted. -Online trading in 6.50-6.90 per cent Cotecna Reference band during the day. Banks borrowed a combined billion rupees from the RBI's twin repo auctions on Tuesday, compared with 827.7 billion rupees on Monday. Liquidity also improved slightly on government spending through salaries as is typiRAWALPINDI: Judge Syed Najmul hearing. cal at the end of every month, Hassan Najam of Accountability Court Judge Syed Najmul Hassan Najam heard dealers said. "These measures (AC) Rawalpindi has once again issued the reference Tuesday. will prevent the call rate from summons to six foreign accused in Additional Prosecutor General NAB rising sharply, even when we Cotecna Reference besides directing DG Akbar Ali Tarar told the court reports of operation NAB to ensure compliance of foreign ministry, law ministry and NAB will have the advance tax See # 5 Page 11 See # 4 Page 11 the summon and inform the court on next
AMPL advocates Musharraf stance
India call rates end lower
AC resummons foreign accused
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