International Karachi, Wednesday, March 2, 2011, Rabi-ul-Awwal 26, Price Rs12 Pages 12
India seeks Pakistan reply on 26/11 probe
Sucide bomber killed in premature blast
See on Page 12
174 Pakistanis return home from Libya
See on Page 12
PIA Passenger arrested in UK
See on Page 12
Finance Minister Shaikh chairs meeting
Economic Indicators Forex Reserves (19-Feb-11) Inflation CPI% (Jul 10-Jan 11) Exports (Jul 10-Jan 11) Imports (Jul 10-Jan 11) Trade Balance (Jul 10-Jan 11) Current A/C (Jul 10- Jan 11) Remittances (Jul 10 - Jan 11) Foreign Invest (Jul 10-Jan 11) Revenue (Jul 10 Jan 11) Foreign Debt (Dec 10) Domestic Debt (Dec 10) Repatriated Profit (Jul- Dec 10) LSM Growth (Dec 10)
GDP Growth FY10E Per Capita Income FY10 Population
$17.59bn 14.55% $13.23bn $22.55bn $(9.32)bn $(81)mn $6.12bn $1.18bn Rs 765bn $58.39bn Rs 5497.4bn $338.2mn -1.57% 4.10% $1,051 175.32mn
ECC OKs Trade Policy Amends MoC urged to rationlaise local auto prices
Portfolio Investment
Rs1.5bn guarantee for Textile City also nodded
SCRA(U.S $ in million)
195.95 -4.81 -0.46 2987
Yearly(Jul, 2010 up to 28-Feb-2011) Monthly(Feb, 2010 up to-28-Feb-2011) Daily (28-Feb -2011) Total Portfolio Invest (19-Feb-2011)
Special Correspondent/ Agencies
NCCPL (U.S $ in million)
FIPI (1-Mar-2011) Local Companies (1-Mar-2011) Banks / DFI (1-Mar-2011) Mutual Funds (1-Mar-2011) NBFC (1-Mar-2011) Local Investors (1-Mar-2011) Other Organization (1-Mar-2011)
-3.83 -0.68 -0.52 2.42 -0.40 2.56 0.45
Global Indices Index Close KSE 100 11,608.43 Nikkei 225 10,754.03 Hang Seng 23,396.42 Sensex 30 18,446.50 ADX 2,574.32 SSE COMP. 2,918.92 FTSE 100 5,941.74 *Dow Jones 12,216.24 *Last Updated 20:00 PST
Change 319.20 129.94 58.40 623.10 14.58 13.87 52.27 10.10
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)
$.Price PKR/Shares 2.60 111.18 17.75 151.80 2.00 42.76 1.70 36.35 11.30 38.64
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
23-Feb-2011 23-Feb-2011 23-Feb-2011 29-Nov-2010 01-Mar-2011 01-Mar-2011 01-Mar-2011 01-Mar-2011 01-Mar-2011 01-Mar-2011 01-Mar-2011 01-Mar-2011 01-Mar-2011 01-Mar-2011 01-Mar-2011
13.49% 13.69% 13.86% 14.00% 13.28% 13.59% 13.76% 14.14% 14.26% 14.18% 14.21% 14.20% 14.56% 14.77% 14.97%
Commodities *Crude Oil (brent)$/bbl 113.62 *Crude Oil (WTI)$/bbl 98.48 *Cotton $/lb 198.23 *Gold $/ozs 1,423.40 *Silver $/ozs 34.32 Malaysian Palm $ 1,168 GOLD (NCEL) PKR 38,934 KHI Cotton 40Kg PKR 12,860 *Last Updated 20:00 PST Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)
Australian $ 86.70 Canadian $ 87.60 Danish Krone 15.70 Euro 117.80 Hong Kong $ 10.50 Japanese Yen 1.028 Saudi Riyal 22.20 Singapore $ 66.90 Swedish Korona 13.20 Swiss Franc 91.00 U.A.E Dirham 23.20 UK Pound 138.90 US $ 85.45
87.70 88.60 15.90 119.50 11.00 1.054 22.90 67.90 13.40 92.20 23.40 140.20 85.75
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
86.94 88.03 15.84 117.56 10.98 1.042 22.80 67.29 13.53 91.83 23.28 137.80 85.52
87.14 88.23 15.87 117.83 11.00 1.044 22.85 67.45 13.56 92.05 23.33 138.12 85.71
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
20°C 30°C 20°C 19°C 14°C 20°C
MIN
4°C 18°C 10°C 10°C 3°C 9°C
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KARACHI: President Asif Ali Zardari presiding over a meeting on gas situation in the country held here at Bilawal House. Meeting was attended by representatives of APTMA, Pakistan Business Council, fertiliser producers and the manufacturers of value added goods in the country. CM Sindh Syed Qaim Ali Shah was also present in the meeting.-APP
President forms body to look into issue
Value-added sectors to get gas 5day/wk Staff Reporter / Agencies KARACHI: President Asif Ali Zardari on Tuesday asked gas supply companies to resume natural gas supply to valueadded textile and fertiliser sectors from Wednesday for five days a week. He was chairing an urgent meeting convened on the request of APTMA and valueadded textile sectors about gas load-shedding in the country at Bilawal House here. Sindh Chief Minister Syed Qaim Ali Shah, representatives of All Pakistan Textile Mills Association (APTMA), fertiliser producers, value-added sector and senior officials of Pepco, SNGPL and SSGC were also present on the occasion. Briefing newsmen, Media Coordinator Taj Haider and Sharmila Farooqui said that President Zardari has directed gas utilities to ensure gas is
supplied for five-day a week to value-added sector. The President said the country cannot afford to hinder production of value-added sector which is the backbone of the economy. He constituted a committee comprising of representative of value added and fertiliser sectors and senior officials to suggest long term solution for gas availability to industry and also for LNG terminal. It was decided that normal gas supply will be resumed to industry in the country once chilly weather ends in the next two to three weeks. Committee to be headed by the Minister for Petroleum or in his absence by the Secretary Petroleum will comprise of representatives of All Pakistan Textiles Mills Association (APTMA) Federations of Chamber of Commerce and Industry, See # 3 Page 11
Top court gives axe to DG FIA ISLAMABAD: Chief Justice of Pakistan Iftikhar Muhammad Chaudhry on Tuesday ordered sacking of Director General Federal Investigation Agency (FIA) Wasim Ahmed within three days. The court also canceled the bails of all accused in Hajj corruption case. A six-member bench of apex court headed by Chief Justice Iftikhar Muhammad Chaudhry resumed hearing of the Hajj corruption case. During the hearing the Chief Justice said Wasim Ahmed had botched up Hajj scam probe. He said the government should appoint him somewhere else, if it considers the DG a competent officer. Justice Raja Fayyaz stated that the Hajj scam could not be justly investigated under the supervision of the current DG FIA. See # 6 Page 11
POL price hike forces ‘Q’, MQM to walk out
MQM digs heels in over price rise Raise challenged in LHC; transporters announce strike Staff Reporter/ Agencies ISLAMABAD/ KARACHI: Muttahida Qaumi Movement (MQM) on Tuesday staged walk out from the National Assembly session in protest against hike in POL prices, describing it economic burden on poor masses. Talking to media persons outside the Parliament House, the MQM leader Haider Abbas Rizvi said despite assurance by Prime Minister Syed Yousuf Raza Gilani that the fuel price issue would be presented before a parliamentary committee, the POL prices
were hiked unilaterally. "The fresh raise has heavily burdened the poor masses already suffering from economic worries, this will not be accepted," he said. He said the MQM could announce its future plan of action if government did not take back the decision of POL price hike. Meanwhile, the increase in petroleum product prices has been challenged in the Lahore high court. Advocate Mateen-ul Haq Chaudhry has filed an application in the See # 5 Page 11
FBR tax kitty up at Rs865bn in 8M ISLAMABAD: The Federal Board of Revenue (FBR) has collected tax revenues of Rs864.999 billion up to February 26, according to provisional figures provided by the Board. The net revenue collections during the month till February 26 are Rs94.932 billion. However, the collections will increase when the board compiles the figures of the whole month up to February 28. Of the total revenue collections of the eight months of the current financial year, the FBR had collected Rs758.606 billion as domestic taxes and Rs106.393 billion as customs duty.
Among the domestic taxes, Rs304.926 billion were collected as direct taxes and Rs376.291 billion as sales tax, including Rs186.769 billion as sales tax on imports and Rs189.522 billion domestic sales tax. The Board collected Rs77.389 billion as Federal Excise Duty (FED), including Rs10.489 as FED imports and Rs66.900 billion as domestic FED. On the other hand, revenue of Rs11.956 billion was collected under the head of customs during the month of February (till 26) whereas the domestic taxes stood at Rs82.976 billion including direct taxes of Rs27.189 billion. See # 4 Page 11
ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC) on Tuesday approved the Strategic Trade Policy Amendments. The ECC met here with the Federal Minister for Finance and Economic Affairs, Dr Abdul Hafeez Shaikh in the chair also approved summaries by the Ministry of Commerce, Finance Division and Ministry of Textile and Industries and directed Ministry of Commerce to give a detailed presentation on the matter of rationalising the prices of locally manufactured cars. The Ministry of Commerce in its summary to the ECC had requested for approval of certain amendments as per the laid down procedure, as the Prime Minister had already granted approval of the same. In another summary the Finance Division's External Finance Wing had sought approval of Equity Investment
in Netherlands Remittances of $15 million. The External Finance Wing in its summary has stated that the intended investment will help to diversify the export base of Pakistan by exporting the value added products such as Halal Foods in international market for which Engro Corporation Limited has been allowed to remit an amount of $15 million for setting up a company in Netherlands named Engro Foods Limited. The Netherlands Government will purchase an established Branch of Halal Products. The accumulative export revenue is expected to be $109 million between 2011-2020 and dividend to the tune of $40 million. The approval was given after taking a commendation of the criteria for permission to allow investment abroad by resident Pakistan or firms. The ECC has sought a detailed presentation on determination of the data on Completely
Knocked Down (CKD) kits for new entrants:Components, parts and CKD kits not manufactured locally at 50 per cent of the existing rate of 32.5 per cent adval customs duty, Components, Parts and CKD kits manufactured locally at 50 per cent of the prevailing rate of 50 per cent ad-val customs duty. Furthermore, ECC has also approved issuance of government's guarantee of Rs1.5 billion for Textile City in Karachi near Port Qasim on the area of 1250 acres. It is a joint venture of Government of Pakistan and Prime Financial Institute. Land for Pakistan Textile City has been acquired from Port Qasim Authority. Once completed the Pakistan Textile City will offer various facilities for value added textile sector including capital power plant, dedicated water pipeline, provision of natural gas, base water plant, workers residential complex and training institute etc. See # 1 Page 11
PSO debit tops Rs154bn mark ISLAMABAD: The different power generation companies as well as Independent Power Producers (IPPs) have to pay the debt of Rs154.220 billion to Pakistan State Oil (PSO) on account of purchase of furnace oil. A well placed source in PSO told this news agency on the condition of anonymity by the end of February various power generation companies including Faisalabad, Jamshoro Piranghaib and Guddu power plants owe Rs50,231 million to PSO as they purchased 9203 metric ton furnace oil from it on credit basis. According to the source IPPs including HUBCO and KEPCO have bought 15,405 metric ton furnace oil and both the power companies would have to repay the amount of Rs 98, 125 million to PSO. As per break-up Hubco owed Rs 69,702 million to Pakistan State Oil as it purchased 3000 metric ton oil for the production of electricity. While KEPCO would also pay back of Rs28,423 million against the 12,405 metric ton furnace oil which was acquired by the company from PSO. See # 2 Page 11
Rs47.54bn raised via Sukuks Staff Reporter KARACHI: Government raised Rs47.54 billion ($555 million) by selling Islamic bonds in the domestic market, the central bank said Tuesday. The cut-off margin will be the six-month treasury bill weighted average yield, which in the last auction on February 23, was 13.6750 per cent. The issue, known as the Government of Pakistan Ijara Sukuk, is a three-year bond. Settlement for the auction held on Tuesday will be on March 7.
New cabinet chosen with care: PM ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani Tuesday said that new Cabinet members have been chosen very carefully and the principle of public support has been followed. He said that government has taken each and every step during last three years for the promotion of democratic values and would continue its principled and issue-based politics in the future as well. Prime Minister was talking to Parliamentarians who called on him separately at Parliament House Chamber here. They included Syed Riaz Hussain Pirzada and Jamshed Dasti. See # 7 Page 11
2 Wednesday, March 2, 2011
Govt to develop youth skills:PM ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani said that the government has prepared a number of programmes at various levels for developing the skills and abilities of our youth who are the future of the country. It is incumbent upon the younger generation, he added, to equip themselves with Education and skills ISLAMABAD: Federal Minister for Interior, Senator A. Rehman Malik chairing a high level meeting to review law and order sit- needed to face the future uation in Balochistan at Ministry of Interior.-Online challenges. The Prime Minister was talking to a group of young students belonging to
Senate body urges transparency in PIA affairs
ISLAMABAD: The Senate Standing Committee on Defence and Defence Production on Tuesday underlined the need of transparency in the promotion process and recommended that merit and seniority principle be observed while giving promotion and new appointments in Pakistan International Airline (PIA). The committee, which met under the chairmanship of Senator Lt. Gen. ss(Rtd) Javed Ashraf here, was briefed on the share of Khyber Pakhtunkhwa in employments in PIA and system of appointments besides details of appointments made in 2010 on share of Kyber
Pakhtunkhwa with local domicile. The committee discussed flights schedule from Kyber Pakhtunkhwa to various cities and ratio and comparison of the fares of PIA for destinations in Kyber Pakhtunkhwa with other cities of country. The committee recommended that advertisements must be published in local and national languages in the leading newspapers of the country and province. The committee suggested that flights be started on daily basis from Peshawar to Lahore via Islamabad. Managing Director PIA Nadeem Khan Yousafzai responded that the PIA would
consider the suggestion. Members of the committee sought complete details of employees of PIA (gradwise) working in Kkyber Pakhtunkhwa and those on the Board of Directors. The committee also suggested that flights be reoperated from Swat/Mangora as security situation was satisfactory there. Among others who attended the meeting were Syed Faisal Raza Abidi, Sardar Ali Khan, Syed Tahir Hussain Mashhadi, Haji Muhammad Adeel, Raja Muhammad Zafar-uHaq, Senator Jan Muhammad Khan, Prof Khurshed Ahmed and Tariq Azim Khan.-APP
Keep Glowin’, Keep Playin’
KARACHI: Telenor Pakistan has opened a new Sales & Service Center in Korangi Industrial Area. Picture shows Aamir Ibrahim, Chief Marketing Officer Telenor Pakistan cutting the ribbon at the inauguration. (L to R): Abdul Qadir Kharadi (Regional Manager, Sales & Service Center - South), Malik Faisal Qayyum (Director S&D), Aamir Ibrahim, Ali Nawaz (Asst. Manager, Korangi S&SC), Ahmed Nadeem Pasha (Regional Director - South-1) and Adnan Hassan (Director Sales & Service Center).-Staff Photo
Deadline Over
PaCCS being closed down TFD Report KARACHI: Agility, a foreign firm operating Pakistan Customs Computerised Clearance System (PcCCS) has decided to closed down its system in Pakistan because of Federal Board Revenue's attitude in not clearing its dues; not even negotiating an arbitration. The Agility had given reasonable time to FBR to recommence negotiations for continuation of PaCCS before February 28 but no heed was paid to its request, say Agility sources. Since May 2010, the FBR was given multiple extensions on the desire of trade bodies, ministry of finance and PaCCS Users but FBR took all those extensions as granted and assumed that the system will continue without negotiations and reaching a settlement with
Agility. The trade suffered huge losses when the PaCCS system was shut down by Agility for only one day earlier on May 28 last year. The reason for ISAF containers scam was manual system. There is no automated system in place to control such scams. Some of the officials inside FBR, having vested interest are allegedly active in nonimplementation of PaCCS. The PaCCS's one of the salient features is its corruption free module which hurts the interests of some officials. The government of Pakistan did not make any investment during the launch of this automated customs computerised system, so the officials incharge do not realize the significance of this system.
MBL awarded 'Best Islamic Bank in Pakistan' Staff Reporter KARACHI: Meezan Bank Ltd (MBL), Pakistan's first and largest Islamic bank, has been awarded 'Best Islamic Bank in Pakistan' for 2010 by Islamic Finance News of REDmoney Group in a ceremony held in Kuala Lumpur, Malaysia. The Islamic Finance News (IFN) Awards honor the best in the Islamic financial industry. It is one of the most prestigious and recognized awards in the global Islamic capital markets. The award brings to light a highly successful and record-breaking year for Meezan Bank, the only AArated Islamic Bank in Pakistan.
KARACHI: As the cricket season begins, GLOW exposes a wave of great passion amongst the youth. GLOW has introduced a new SMS bundle, 100 SMS @ 50 paisas/day to any number, any network in Pakistan. This offer has been designed keeping in mind the pocket size and needs of the youth segment. Also, an interesting IVR based service called 'Fantasy Cricket' will be available that can be accessed by calling 1200. This service allows customers to set up their team and receive regular updates/reminders on the performance of their selected players. The top 3 winners will be given exciting cash prizes. Glow Raat-Din package in which customers can talk to their 10 Glow Gang friends at Rs.2.99/hour during the night and Rs.1.99/30 minutes during daytime.-PR
TV PROGRAMMES WEDNESDAY
SAI concerns over SBP figures
KARACHI: The SITE Association of industry (SAI) has raised its concerns on the recent figures released by the State Bank of Pakistan (BP) about a fall in Large-Scale Manufacturing (LSM). Apparently the picture was better in terms of export revenues which are primarily due to the increase in commodity prices like cotton but this doesn't depict the true image of the industrial economy as this increase is not in volume terms. In real terms production have curtailed and resulted in de-industrialization of the country in the last 2-3 years. This was stated in a joint statement by SAI's Chairman Abdul Wahab Lakhani, Senior Vice Chairman, Asad Nisar and Vice Chairman Sanaullah Abdullah. Deindustrialization is also a direct result of deteriorating law and order situation in the country especially here which is the hub of industrial activity and drives largest portion of government revenue and employment generation.-NNI
Emergency centers under flyovers planned KARACHI: On the directive of Governor Sindh Dr. Ishrat-ul-Ebad Khan, City District Government has allocated space beneath 14 flyovers in Karachi for setting up of emergency centers. These centers will provide immediate help to citizens in case of any emergency or casualty. Work has already been started in the first phase to establish emergency centers beneath 5 flyovers while 9 more centers will be setup in dif-
Call to enhance trade with neighbouring countries continuation of economic policies during the course of time as compared to the countries where the dictators had ruled. Speaking on the occasion Dr. Samar Mubarakmand said that competitiveness of domestic products were vital for industrialization and economic growth in the country. He said that the cheap and skilled labour, availability of raw material on economical rates were the main causes of rapid industrialization and economic growth. He said that efforts were being made to minimize the cost of domestic production with the provision of raw material and power at economical rates. In this regard, the exploitation of huge natural resources including coal, copper and other sources has been started, he added. He said that strict control and peaceful atmosphere in the industrial sector of China was making its economy more conducive. -APP
Time Programmes
'Mera Pak Conf' on March 11
7:00 8:00 9:05 11:00 11:30 12:00 13:10 14:10 15:00 16:00 17:30 18:00 18:30 19:00 19:05 19:30 20:03 21:00 22:03 23:00 23:30
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) in collaboration with COMMECS is organising 'Mera Pakistan Conference 2011'at a local hotel on March 11. "It is not a conference but a big issue to address the perception of Pakistan positively," said Mohammed Asif, President of COMMECS, the old students' association Government College of Commerce and Economics, Karachi, while addressing press conference in this regard along with KCCI President Saeed Shafiq here on Tuesday.He said the conference was aimed to explore the unexplored sectors of Pakistan in a positive manner. "We want to tell the world that are today after 1947," he added. Asif was of the view that propagation of negative image of the country in local and international media has damaged the business environment in the country and added that media needs to highlight also the positive image of Pakistan. "We are rich in natural resources and manpower and we need to give hope to youngsters," he maintained.-APP
News News Subah Savere Maya ke Sath News Aap Ki Baat (Rpt) News Newsbeat (Rpt) Tonight With Jasmeen (Rpt) News News Samaa Metro News Aap Ki Baat News Hal Kya Hai Crime Scene Newsbeat News Tonight With Jasmeen News 24
during sessions as well as Parliamentary Committees of the Parliament are the forums of accountability of the government. Besides, the civil society and the media, he said, Parliament also keeps a watch over the working of the Government. All these institutions, he mentioned, help to strengthen democracy and functioning of democratic institutions. The Prime Minister advised the children to display exemplary behaviour while participating in the
CDGK allocates space
Planning Commission seminar
ISLAMABAD: Speakers at a seminar on Tuesday stressed the need for enhancing trade relations with neighbouring countries, removing hurdles to increase foreign inflows and restructuring the fiscal policies for rapid industrialization to obtain a higher economic growth in Pakistan. The seminar "Economic Growth: Beyond Washington Consensus" was organized by the Planning Commission of Pakistan with an aim to look into experiences and how the country can move forward with a growth and reforms agenda". Addressing the seminar, Senior Fellow at Peterson Institute for International Economics USA, Dr. John Williamson said that due to industrial growth China has reduced its poverty level from 84 per cent in 1981 to 16 per cent in 2002. He said that democratic countries witnessed rapid economic growth due to
Headstart School who would be representing the country at the model united nations moot for children being organized by the Government of Turkey from March 7-14 in Istanbul. The meeting with the children took place in the Prime Minister's Chamber at the Parliament House here on Tuesday.. While explaining to the children about the functioning of the Senate and the National Assembly, the Prime Minister mentioned that the "question hour"
ferent areas of city during 2 more phases. These emergency centers will be equipped with ambulances, fire tenders, municipal services machinery and vehicles. Rangers and Police kiosks will also be established there while the city government office to be established in this center will run round the clock. This was decided in a meeting held in the Civic Center on Tuesday. The meeting was chaired by DCO Karachi Muhammad
Hussain Syed and attended by EDO Works & Services Rasheed Mughal, EDO Municipal Services Masood Alam, EDO Transport Atiq Baig and other city government officers. Earlier, DCO Karachi had constituted a committee which was comprised of 8 senior engineers to conduct a survey of city and submit report on the establishment of emergency help centers beneath 38 flyovers.- NNI
model united nations moot and represent the country as true Pakistanis. The children assured that they will participate in the MUN moot whole heartedly and win the honour for the country. They also expressed hope that the children of the country will be encouraged to participate in such like events held in various parts of the world. They also asked that Pakistan should also try to arrange events to invite children from other countries.- NNI
Strong performance of HSBC MENA KARACHI: Simon Cooper, CEO HSBC MENA has said that "HSBC in the Middle East and North Africa delivered a strong financial performance in 2010, delivering a profit-before-tax of US$892 million. This is almost double the profit that the region achieved in 2009, and is a testament to the bank's success and investment in the region. "Throughout a challenging year, we remained open for business, and the results speak for themselves. Middle East and North Africa is a key element in HSBC Group's emerging markets strategy, and our outlook for the region remains optimistic. We will continue to invest in this region for growth, and will continue to be a strong partner to our customers."-PR
PICIC-CF interim distribution KARACHI: The Chief Executive of PICIC Asset Management Company, the management company of PICIC Cash Fund (PICICCF), on behalf of Board of Directors, approved a bonus of Rs1.0000 per unit (0.9993% of the Ex-NAV of 26th January, 2011) as interim payout. An investor holding 100 units as on 25th February, 2011 will get 0.9995 units on the ex-bonus price of Rs.100.0513 per unit, the proportionate will apply to actual holdings. Unit holders who have opted for cash payout will get the cash dividend accordingly. The above entitlement will be paid to the unit holders, whose names appear in the register of unit holders of PICIC-CF at the close of Business day on February 25, 2011.-PR
TAAP dinner for Minwalla TFD Report KARACHI: Due to the law and order situation in the country, the sightseeing and tourist attraction places for the international tourists, are almost idle, this is the high time that Government should take some drastic actions to save the tourist places and the heritage of Pakistan both for domestic and international tourists, as well. Government should also formulate a balanced policy to enhance their exchequer through Tourism; this was stated by the Chairman, Travel Agents Association of Pakistan, M. Yahya Polani at a farewell dinner in honour of Darayus Happy Minwalla, the outgoing Country Manager of Cathay Pacific.
KARACHI: (L-R) Tauqir Ahmed, CEO DuPont Pakistan, Zahida Hashmi, SOS Village Director, Dr Asher Hasan, Founder & CEO, NAYA JEEVAN distributing health insurance plans to SOS village children.-Staff Photo
DuPont health cover for SOS Village children TFD Report KARACHI: DuPont Pakistan Operations (Pvt.) Ltd. under the DuPont Community Fund Program [DCF] collaborated with Naya Jeevan to provide health insurance plan coverage to almost 250 SOS Village children and 100 resident mothers and domestic staff. Naya Jeevan is a not-for-profit social enterprise that is dedicated to rejuvenating the lives of urban, low-income families throughout Pakistan by providing them with affordable access to quality healthcare. Under this program, the children will have access to a 24 hour medical hotline to trained medical doctors at Naya Jeevan and to a nation-
wide network of over 140 quality, private hospitals. The coverage will include all in-patient associated hospitalization for emergencies/trauma, scheduled surgery, diagnostics, imaging, blood supplies, labs, ambulance services and outpatient consultation/treatment and medicines. The program will also conduct annual health checkups by trained medical doctors. "Our core values, safety and health, are at the heart of everything we do at DuPont. This programme is special to us as it touches the lives of our younger generation. These children are our future and it is our responsibility to help them stay safe. We hope this contribution will help support this important task.
KARACHi: Robert Gibson CMG,U.K, Director Trade & Investment, Pakistan and Deputy High Commissioner, Karachi hosted a reception in honour of the delegation of the Birmingham Chamber of Commerce & Industry at his residence. Photo shows Siraj Kasim Teli. Majyd Aziz, and Barrister Abdul R. Sattar, along with host and members of the delegation.-Staff Photo
3
Wednesday, March 2, 2011
US dollar falls on rate view after Bernanke comments
Time 5:30 2nd-4th 14:30 15:00 17:30 18:15 18:30 18:30
Source Events AUD GDP q/q GBP Halifax HPI m/m GBP Construction PMI EUR PPI m/m USD Challenger Job Cuts y/y USD ADP Non-Farm Employment Change CAD RMPI m/m CAD IPPI m/m
Bernanke offers no hint about monetary policy outlook
Source
Events
JPY AUD AUD CNY AUD GBP CHF GBP EUR EUR CAD USD
Unemployment Rate Retail Sales m/m Current Account Manufacturing PMI Cash Rate Nationwide HPI m/m SVME PMI Manufacturing PMI CPI Flash Estimate y/y Unemployment Rate Overnight Rate ISM Manufacturing PMI
NEW YORK: The US dollar fell to a 3-1/2-month low against major currencies on Tuesday and could fall further after Federal Reserve chief Ben Bernanke offered no hint that the US central bank was considering winding down its loose monetary policy. After briefly dipping below $1.38, the euro rebounded and remained on track to test key resistance around $1.3862, the yearly high. Analysts expect the euro to stay supported ahead of Thursday's European Central Bank policy meeting, at which the ECB may signal a willingness to hike rates. In testimony before Congress, Bernanke said downside risks to growth had diminished and said for the first time that the risk of deflation was now "negligible." But he said that job growth remains far too anemic and pro-
vided no clue whether the Fed was considering cutting short its $600 billion bond-buying program designed to stimulate the economy. "There is nothing that Bernanke has said that is going to change the market's view that the Fed is going to be a laggard in the tightening cycle relative to most G10 central banks," said Alan Ruskin, global head of Group of 10 foreign exchange strategy at Deutsche Bank in New York. The dollar index, which tracks the greenback's performance against a basket of major currencies, fell to 76.735, its weakest level since early November.
The euro last rose 0.1 per cent to $1.3817, near a one-month high of $1.3857 hit on trading platform EBS on
Monday. The euro fell as low as $1.3795 after Bernanke's comments, before recovering. The dollar rose 0.1 per cent to 81.86 yen, with traders citing earlier heavy buying of dollar/yen by Japanese exporters. The euro rose 0.2 per cent to 113.10 yen. Against the Swiss franc, the dollar was flat at 0.9280 and the euro
Investors build short dollar/peso positions SINGAPORE: The Indonesian rupiah gave up most of its early gains against the dollar on Tuesday after lower-than-expected inflation triggered some profit taking that could extend until the central bank's policy meeting on Friday. Food prices in Indonesia fell for the first time in four years in February, easing pressure on the central bank to raise its key overnight benchmark interest rate on Friday and giving cover for traders who were eager to
cash in. The rupiah enjoyed the biggest monthly gains last month since Sept. 2009 after a surprise rate hike. "I do think there's a good chance for some profit taking in IDR, especially if they do stay put on Friday," said Dariusz Kowalczyk, senior economist and strategist at Credit Agricole CIB in Hong Kong. Dollar/rupiah might rise to a range of 8,850-8,875 if Bank Indonesia stays on hold, a
Sterling gains on data, BoE comments LONDON: Sterling rallied to a 13-month high against the dollar on Tuesday after stronger-thanexpected UK economic data supported speculation that UK interest rates will rise well before US rates. Comments from Bank of England policymakers that inflation will remain high this year had only a slight impact on the currency although it did keep
speculation of a UK rate hike by mid-year intact. A surprise jump in UK house prices helped to push the pound to $1.6330 in early London trade, its strongest since January 2010, while a slightly stronger-thanexpected reading of UK manufacturing helped keep the pound near the key $1.63 level. The UK purchasing managers' index slipped to 61.5 in February from 62.0 in January, but the reading was higher than forecasts of 61.0. Other data showed UK mortgage approvals picked up at the start of the year. Markets are largely pricing in a 25 basis point rate rise by June,
and analysts said such expectations would continue to push the pound higher. By 1508 GMT, the pound was up 0.1 per cent on the day at $1.6275. Earlier in the day, traders said the pound was pushed higher by dollar selling by model accounts, which use computer-generated trading recommendations, before paring gains. The euro was flat at 84.85
pence, recovering from an earlier slide as traders said demand for the single currency from European reserve managers helped to bolster it. That pulled sterling away from its peak versus the dollar, they said. In testimony to a govern ment committee, BoE Governor Mervyn King reiterated his view that inflation would remain above the central bank's 2.0 per cent target this year while the economy ekes out a modest recovery. He added that he saw few signs that price pressures are becoming entrenched, suggesting that the central bank is not in a hurry to raise rates yet. -Reuters
Jakarta-based US bank dealer said. Some analysts said investors became cautious over possible dollar-buying intervention by the central bank after it was spotted buying $50 million on Monday. Dollar/peso fell as local players built up short positions on a softer dollar. "It looks like people are building fresh shorts, looking at 43.40-43.45 target today," said a European bank dealer in Manila. -Reuters
Swiss franc weakens ZURICH: The Swiss franc weakened on Tuesday as global risk appetite returned amid rallying markets and despite stronger-than-expected Swiss growth data. Unrest in the Middle East and North Africa had pushed the safe-haven franc to all-time peak against the dollar of 0.9230 on Feb. 24 and it had been moving back towards a historic high against the euro of 1.2400 hit in late December. Credit Agricole strategists said the franc's recent strength was beginning to tire and recommended selling the Swissie into strength prompted by the Swiss growth data. The franc was 0.2 per cent down against the euro compared to the New York close, trading at 1.2836 per euro at 0752 GMT. The franc was 0.2 per cent lower against the dollar at 0.9303 per dollar, off Thursday's all-time high of 0.9230. The franc ticked up after data showed the Swiss economy unexpectedly gained fresh momentum in the final quarter of 2010 as goods exports defied the record-high franc. The economy grew by 0.9 per cent in the fourth quarter from the previous quarter, beating average economist forecasts for an increase of 0.5 per cent. -Reuters
Aussie dollar dips as RBA sounds relaxed; NZ$ pauses SYDNEY/WELLINGTON: The Australian dollar lost some steam on Tuesday after the Reserve Bank of Australia (RBA) disappointed some bulls by sounding content with current rates, while the kiwi paused to end three days of modest gains. The Australian dollar edged back to around $1.0156, after touching a two-month high of $1.0203, when the RBA left rates at 4.75 per cent as expected and said inflation was likely to stay contained for the rest of the year. The Aussie had firmed earlier after data showed retail sales rose 0.4 per cent in January, defying fears that flooding in the state of Queensland earlier in the year would have a bigger dent on spending. Overall, retail sales remained sluggish but such an outcome is welcomed by the RBA as restrained consumer spending makes room for the ongoing commodities boom without adding pressure to inflation. Markets see no chance of a hike in April and imply a total tightening of 32 basis points for the next 12 months. The RBA also noted terms of trade are at their highest level since the early
1950s and fuelling large mining investment. Other data released on Tuesday included a slightly higher than expected current account deficit of A$7.3 bln for last quarter. Net exports failed to make any contribution to GDP growth. On the other hand, government spending was firmer than many had expected and should add to growth. In contrast, a New Zealand economic research group predicted last week's powerful quake in Christchurch could slash the country's economic growth to almost nothing in 2011. Markets are now fully priced for a 25 basispoint cut at the next Reserve Bank of New Zealand rate review on March 10, and no rise at all over the next 12 months. All this helped the Aussie climbed to a 9-week high of around NZ$1.3565, not far from the NZ$1.3640 peak struck in September 2000. It has risen by more than three per cent against the kiwi so far this year on diverging outlooks for interest rates. It last traded at around NZ$1.3500. The New Zealand dollar was stuck in a familiar range just above $0.75, after losing 1.5 per cent last week in the wake of the earthquake. -Reuters
rose 0.1 per cent to 1.2827. Traders said uncertainties in the Middle East and North Africa remained high, and if tensions escalate, investors could again buy the Swiss franc and yen, the two currencies that have tended to benefit the most when risk aversion rises. Sterling rallied to a 13-month high against the dollar of $1.6330, after stronger-than-expected UK housing data stoked expectations the Bank of England will raise interest rates before the Fed. The Canadian dollar fell against the US currency after the Bank of Canada kept its main interest rate at 1 per cent and gave no signal it plans to push the rate up soon. The greenback last traded up 0.3 per cent against the loonie at C$0.9737, after earlier falling to a threeyear low of C$0.9684. -Reuters
SHANGHAI: The yuan closed up and approached a record high versus the dollar on Tuesday after a pair of surveys showed a rise in factories' input costs, highlighting the risks of higher inflation down the line. Higher input prices in both the official purchasing managers' index (PMI) and HSBC's China PMI could apparently add weight to the government's determination to use its currency to help fight surging prices, traders said. In the latest signal of such determination, the People's Bank of China fixed its daily mid-point stronger on Tuesday and just one pip shy of the fixing's record high. The central bank has already been using its reference rate to guide the yuan to a slew of record highs this year and traders believe it is poised to let the currency hit more records at least in the near term to help fight imported inflation. "Evidence is mounting for faster yuan appreciation this year, although past experiences are preventing some investors from betting a steeper-thanexpected yuan rise in offshore forwards markets," said a trader at a European bank in Shanghai.
178K 3.1% 0.5%
Previous 0.2% 0.8% 53.7 0.8% -46.0% 187K 4.2% 0.7%
Actual
Forecast
Previous
4.9% 0.4% -7.3B 52.2 4.75% 0.3% 63.5 61.5 2.4% 9.9% 1.00% 61.4
4.9% 0.3% -6.9B 52.2 4.75% -0.2% 60.8 61.5 2.4% 10.0% 1.00% 60.9
4.9% 0.2% -6.5B 52.9 4.75% -0.1% 60.5 61.5 2.3% 10.0% 1.00% 60.8
Currencies Rate Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY Gold
As per 22.00 PST Ask High 1.3839 1.3855 0.9295 0.9320 1.6292 1.6327 0.9724 0.9732 1.0183 1.0201 113.6400 113.7200 0.8496 0.8503 1.2860 1.2892 133.7900 134.1200 88.3800 88.3900 1422.4300 1422.9500
Bid 1.3838 0.9290 1.6286 0.9720 1.0179 113.6000 0.8493 1.2855 133.7300 88.3300 1421.6500
Low 1.3788 0.9285 1.6255 0.9685 1.0155 112.9100 0.8471 1.2821 132.9800 88.0500 1409.6500
London Inter Bank Offered Rates (LIBOR)
Benchmark one-year dollar/yuan non-deliverable forwards (NDF) were bid at 6.4010 late on Tuesday, down from 6.4110 at Monday's close. Their implied yuan appreciation in a year's time rose to 2.64 per cent from 2.49 per cent. They have now neared their record low of 6.3840 hit on Oct. 18 when they implied 12-month yuan appreciation of 4.23 per cent. For the past couple of months, NDF-implied yuan appreciation has persistently lagged market expectations of a 5 to 6 per cent rise in 2011 partly because hedge funds, the main players in forwards, cut back exposure to Asian markets in favour of dollar assets as the US economy recovers, traders said. Spot yuan closed at 6.5703 to the dollar from Monday's close of 6.5716 and has risen 3.89 per cent since its depegging from the dollar in June 2010. It is now within arm's reach of its record trading high of 6.5654 hit on Feb. 21. Before trading began, the PBOC fixed the yuan's midpoint at 6.5706 versus the dollar, only one pip from the fixing's record high of 6.5705 also hit on Feb. 21. -Reuters
Indian rupee surges on robust local stocks MUMBAI: The Indian rupee strengthened to a near twomonth high on Friday, tracking a rally in the domestic equity market, while dollar inflows and the greenback's weakness overseas also aided. The partially convertible rupee closed at 44.945/955 per dollar against Monday's close of 45.27/28, after touching 44.91, its highest since Jan 4. "I see the rupee weakening from here. It should settle in a range between 45-45.25 later this week," said Ashutosh Khajuria, head of treasury at IDBI Bank in Mumbai. He said the trigger for the rise in the rupee was the AprilJanuary export data as well as foreign fund inflows into the domestic stock market. Exports in April-January rose an annual 29.3 per cent to $184.6 billion. Traders said a weak dollar overseas and some dollar inflows also aided the rupee. A chief trader with a staterun bank said there were some
Forecast 0.6% -0.6% 53.0 1.1%
Previous Day
Yuan up on fresh signs of inflation
Asian currencies
Rupiah cuts gains after CPI; may see more profit-taking
Top Economic Events
inflows related to the RelianceBP deal adding to rupee's rise. The one-month onshore forward premiums were at 25.50 points against 27.25 points on Monday, while the one-month offshore non-deliverable forward contracts were quoted at 45.18, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange, the MCX-SX and on the United Stock Exchange were at 45.1825, 45.1775 and 45.1800, respectively, with the total traded volume at about $7.4 billion. -Reuters
Karachi: The following are the London Inter-Bank Offered Rates (LIBOR). British Members Association Interest Settlement Rates. AT 11:00 LONDON TIME 01/03/2011 A USD GBP CAD EUR JPY O/N 0.22550 0.55625 0.97167 0.58625 SN 0.11313 1WK 0.24950 0.57563 1.00583 0.67000 0.11750 2WK 0.25500 0.58313 1.04083 0.75000 0.11938 1MO 0.26100 0.61250 1.08100 0.82188 0.13250 2MO 0.28550 0.68250 1.14917 0.91688 0.15563 3MO 0.30950 0.80250 1.21267 1.04938 0.19125 4MO 0.35100 0.88375 1.28117 1.13375 0.24313 5MO 0.40950 0.99125 1.35083 1.22375 0.30000 6MO 0.46250 1.11000 1.42133 1.32813 0.34625 7MO 0.51600 1.19013 1.50700 1.39063 0.39625 8MO 0.56975 1.27513 1.59200 1.45063 0.44563 9MO 0.62225 1.35763 1.67250 1.51938 0.49000 10MO 0.67550 1.43938 1.76167 1.57750 0.51688 11MO 0.72750 1.50750 1.85250 1.63625 0.54250 12MO 0.78875 1.57625 1.94500 1.69875 0.57000
Major Central Banks Overview Central Bank
Next Meeting
Bank of Canada Bank of England Bank of Japan European Central Bank Federal Reserve Swiss National Bank The Reserve Bank of Australia
Last Change
April 12, 2011 September 8, 2010 March 10, 2011 March 5, 2009 March 15, 2011 December 19, 2008 March 3, 2011 May 7, 2009 March 15, 2011 December 16, 2008 March 17, 2011 March 12, 2009 April 5, 2011 November 2, 2010
Current Interest Rate 1% 0.50% 0.10% 1% 0.25% 0.25% 4.75%
Division of National Bank of Pakistan (NBP) KARACHI, March 01,2011 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND
85.70 138.12 117.83 88.23 92.05 87.14 13.56 1.04 15.31 67.45 15.87 22.85 11.00 13.04 307.72 28.16 64.45 23.53 23.33 0.08 2.80
85.50 137.80 117.56 88.03 91.83 86.94 13.53 1.04 15.28 67.29 15.84 22.80 10.98 13.01 307.00 28.09 64.30 23.48 23.28 0.08 2.80
85.25 137.37 117.18 87.79 91.59 86.71 13.49 1.04 15.24 67.11 15.79 22.74 10.95 12.98 306.19 28.02 64.13 23.42 23.22 0.08 2.79
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for March 01, 2011
KASB
BMA
ELXIR
GSL
ICSL
12.80 12.85 12.95 13.12 13.35 13.48 13.60 13.68 13.78 14.10 14.17 14.19 14.22 14.23 14.26 14.25 14.22 14.23 14.50 14.77
12.75 12.85 12.95 13.10 13.32 13.45 13.62 13.67 13.78 14.10 14.17 14.22 14.22 14.26 14.30 14.25 14.17 14.21 14.60 14.70
12.80 12.88 12.90 13.12 13.36 13.48 13.60 13.68 13.79 14.05 14.18 14.20 14.21 14.25 14.29 14.22 14.15 14.20 14.60 14.75
12.90 12.90 13.00 13.25 13.38 13.50 13.64 13.68 13.80 14.05 14.17 14.19 14.22 14.23 14.25 14.23 14.22 14.18 14.55 14.90
12.85 12.90 12.98 13.15 13.35 13.48 13.60 13.68 13.78 14.05 14.18 14.22 14.20 14.30 14.35 14.23 14.20 14.22 14.60 14.75
0-7days 8-15dys 16-30dys 31-60dys 61-90dys 91-120dys 121-180dys 181-270dys 271-365dys 2-- years 3-- years 4-- years 5-- years 6-- years 7-- years 8-- years 9-- years 10--years 15--years 20--years
JSCM AvgRate 12.85 12.90 12.95 13.15 13.36 13.45 13.61 13.65 13.75 14.05 14.17 14.19 14.19 14.25 14.30 14.22 14.18 14.18 14.50 14.75
12.83 12.88 12.96 13.15 13.35 13.47 13.61 13.67 13.78 14.07 14.17 14.20 14.21 14.25 14.29 14.23 14.19 14.20 14.56 14.77
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
-0.67 -0.04 0.11 0.29 -0.10 -0.52
0.89 0.17 0.73 0.69 0.79 0.94
-0.81 -0.38 0.18 0.65 0.77 0.67
-0.59 0.11 0.86 0.86 0.37 0.70
0.88 0.53 0.86 0.76 -0.19 0.36
USD/CAD USD/CHF
0.42 -0.54 0.04 0.30 -0.24 -0.46
0.82 -0.32 -0.40 -0.13 -0.21 0.52
0.81 0.07 -0.22 -0.25 0.30 0.36
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)01/03/2011 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
ABLN 12.50
13.00
12.60
13.10
12.70
13.20
13.35
13.60
13.60
13.85
13.70
14.20
13.80
14.30
14.00
14.50
JSBL
12.70
13.20
12.85
13.35
12.95
13.45
13.40
13.65
13.60
13.85
13.70
14.20
13.80
14.30
13.90
14.40
ASPK 12.80
13.30
12.80
13.30
12.80
13.30
13.30
13.55
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
CIPK
12.70
13.20
12.75
13.25
12.75
13.25
13.40
13.65
13.60
13.85
13.70
14.20
13.90
14.40
14.10
14.60
DBPK 12.50
13.00
12.70
13.20
12.75
13.25
13.30
13.55
13.40
13.65
13.50
14.00
13.60
14.10
13.80
14.30
FBPK 12.65
13.15
12.70
13.20
12.75
13.25
13.40
13.65
13.55
13.80
13.70
14.20
13.80
14.30
13.90
14.40
FLAH 12.70
13.20
12.75
13.25
12.80
13.30
13.35
13.60
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
HBPK 12.65
13.15
12.75
13.25
12.85
13.35
13.35
13.60
13.50
13.75
13.65
14.15
13.75
14.25
13.85
14.35
HKBP 12.70
13.20
12.70
13.20
12.80
13.30
13.30
13.55
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
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
HMBP 12.70
13.20
12.85
13.35
12.85
13.35
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
SAMB 12.50
13.00
12.70
13.20
12.85
13.35
13.30
13.55
13.50
13.75
13.65
14.15
13.75
14.25
13.85
14.35
MCBK 12.60
13.10
12.65
13.15
12.75
13.25
13.35
13.60
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
NBPK 12.60
13.10
12.70
13.20
12.75
13.25
13.30
13.55
13.50
13.75
13.70
14.20
13.80
14.30
13.90
14.40
SCPK 12.40
12.90
12.50
13.00
12.65
13.15
13.25
13.50
13.45
13.70
13.60
14.10
13.70
14.20
13.80
14.30
UBPL 12.70
13.20
12.70
13.20
12.75
13.25
13.40
13.65
13.50
13.75
13.65
14.15
13.80
14.30
13.90
14.40
AVE
13.14
12.72
13.22
12.78
13.28
13.34
13.59
13.51
13.76
13.64
14.14
13.76
14.26
13.86
14.36
NIPK
12.64
4 Wednesday, March 2, 2011
The Financial Daily International
The Politichaos
Vol 4, Issue 196
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board
Lubna Umar
M
uch has been said and written about the utter lawlessness that prevails in Asim Abbas Ashary, CPA Khurram Shehzad, CFA Pakistan but very little has been seen Akhtar M. Zaidi, FCA in terms of addressing the phenomeProf. Zakaria Sajid (KU) Dr. A. Hadi Shahid, FCA Zahid Bukhari SVP HBL (retd) non in a concrete manner by either the politicians or any other organization Muhammad Arif Ismat Sabir for that matter. Head office The current media campaign that 111-C, Jami Commercial Street 11, Phase VII, DHA Karachi has been launched against the corrupt Telephone: 92-21-35311893-6 Fax: 92-21-35388428 practices of the politicians and leadURL: www.thefinancialdaily.com ers, despite severe lashing, has Email Address: editor@thefinancialdaily.com proved futile as the only objective it Lahore office achieves is to heighten the angst that 24- Peshawar Block, Fortress Stadium, Lahore is already shrouding the souls of all Telephone: 92-42-6675595 Fax: 92-42-6664349 Pakistanis who feel bereft of all hope Email Address: editor@thefinancialdaily.com and optimism. Talks about a revolution, the Egyptian style are being circulated and denounced simultaneously as a non plausible option due to the various dissimilarities stated between both nations socio-political landscape, despite the massive appeal and temptation of the proposition. All those that may benefit out of a chaotic situation in case of a revolution are busy counting the benePurchasing power of masses is eroding fast fits of it while those threatened are callit a no no situation. Does anyone as price of every thing is going up, partly ing think about the collective communal because of cost pushed inflation but mostly good? Apparently, not! Governance, or any other field, for due to the failure of government in checking that matter has become a political game prices of every day consumption item. While in Pakistan that allows so much liberty those at the higher echelons that the government has failed in correlating to manipulation and maneuvering of the wages with the inflation, employers often political structure according to personfind them incapable of raising remuneration al needs and gains throws rationality out of the window to indulge in this to commensurate with the rising inflation in addictive power play. This leaves very little room for the trickle down of the country. power to lower ranks or any sort of To begin with, the experts object on the power sharing. It has to be complete ways of determining rate of inflation in the unchallenged power for the leaders. Although, sharing of power may be country and the crudest measure they insist materialising, albeit at a slow pace to use is what a rupee could purchase now in among the various political parties, but stability through it is a dismal hope that comparison with what it could purchase a needs yet another decade to consolidate Haseeb Khan, FCA
S. Muneer Hussain Rizvi
The Ebbing Affordability
year ago. The common parameters used by public are prices of gold, POL products, electricity and gas tariffs, but most common denominator is price of 'roti' (bread). However, it is no longer relevant because with rise in flour price the weight of bread is constantly on the decline. Another common indicator used by the households is prices of meat, beef and chicken. To begin the quality is on the decline but prices are on the rise. The retailers provide all sorts of rationalizations for the hike in price but the worst element has been 'bhattakhori' at almost every level. Slaughter houses, previously operating under government control now run under 'thekadari' system. Poultry farms have to pay 'bhatta' to police as well as the political parties. Added to this is the 'parchi' system in force in every market where the shop keepers have to pay contribution to political party funds. Weekly bazaars were introduced to ensure cheap availability of daily consumption items but gone are the days. Different types of mafias control these bazaars and protection is provided for selling stale products. It is also on record that some of the bazaars are operating without any government permission. On books price committees also exist and also take the fees but never bother to see at what prices products, particularly vegetables and fruits are being sold. Though, there are complaint centers where one could lodge complaint against overcharging or selling inferior quality products at the price of premium quality products but no action is ever taken against the culprits. There are regular increases in the price of loose milk and yoghurt but the worst has been adulteration. Various chemicals are added to make the milk thicker but authorities responsible for checking quality visit the shops only to collect the 'bhatta'. It may be true to say that adulterators are killing more people than the terrorists. There are laws as well as Consumer Associations in the country but they are just the platforms for personal projections.
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.
given the immature manner in which coalitions are broken every now and then due to slight difference of opinions. This threatens the very institution it comprises, thus dispelling the notion that stability, law and order and peace in the country is what the parties crave for at the socio-political level. Therefore, we can safely assert that ground realities, despite continuous struggle on the part of the population that had stood in unison for Musharraf's ouster in the vain hope that democracy would be the ultimate solution to all their predicaments, provides no hope for a prosperous time ahead. The absolute subservience of the US by the ex-military dictator was expected to be reversed by the formation of a democratic government that was aimed to propel the nation towards an economic uplift which need not be dependent so heavily upon the US aid money. The impossible task of reinstating the judiciary was another colossal achievement of the Pakistani people that also signifies a deep rooted need for justice, law and order. Similarly, the Pakistani armed forces have been successful in dismantling the established terror networks in the tribal areas, thus bringing a great measure of peace into the lives of the people. Then what is it that is fueling this mayhem where, despite all accomplishments Pakistan seems to be sinking deeper into disorder? Apparently, the democratic government had no designs to reverse the Musharraf trends, instead the aid dependent economic structure suited the Zardari government as it allowed them to live in leisure and comfort without having to be bothered about governance issues as those were being taken care of by the US. The matter needs to be delved in a little deeply where all those need to be exposed that may benefit from a state of anarchy. Lawlessness in the State is being established consciously by various factions for vested interests. This
includes some segments of civil administration, military, judiciary, religious and political parties and the media. It is being perpetuated extensively through the popular media, thus being instrumental in creating hopelessness and despair among the masses Claims to alleviate corruption and other social vices by leaders, politicians and individuals are nothing but lip service to blindfold the people. It would not be entirely wrong to say that the Pakistani State, therefore, has adopted the "Law of the Jungle" where it serves only to benefit those on the power spectrum. The industrial and agricultural bases of our economy are being given spasmodic blows that has proved detrimental and led to its downward slide. Industry that is primarily our backbone has been crushed by the severe energy crisis that includes both electricity and gas shortages. Connected inextricably with it is the livelihood of millions of people that are being deprived of their legitimate share as a consequence. A multitude of industry owners have already exited the system to try their luck elsewhere as they are being offered citizenship under relaxed ruled to facilitate foreign cash inflow. Agricultural produce on the other hand face a similar dilemma as supplies dwindle to an extent where local needs are not being addressed. The most reliable and stable source of revenue generation for any nation is its tax collection mechanism that encompasses a huge percentage of the earning members of society. According to latest estimates, a total of seventy nine percent of those under the category of 'tax payers' exercise influence to evade such an application thus causing serious damage to the national exchequer. This can very well be understood in relation to the fact that a big majority among those in the cabinet, classing themselves as custodians of the people, are defaulters of billions of rupees by
devising various methodologies to become hardcore tax evaders. Outstretched State expenditures have added to the miserable condition of the national reserves as a colossal chunk is being subtracted from significant projects and sectors to support the illegitimate whims and fancies of the leaders and politicians. The irony is that this systemic failure has been so deeply embedded that most analysts have claimed that such a trend where corrupt practices are institutionalized and aided by the State machinery may never be overcome or reversed by any democratic government where laws are formulated only for the influential. This can be exemplified by the plea bargain deal offered by the National Accountability Bureau to all the loan defaulters which provides a window through which they can be greatly facilitated despite committing such a horrendous crime. All those that file a plea may be granted relief of paying back only a portion of the money borrowed, with the rest to be waived off on the basis of inability to pay. This serves as an incentive for prospective cheaters to jump in to join the list for grabbing quick bucks. Shameless and remorseless, these defaulters after milking the country are looked upon as champions. Where, is the prospect of punishment and ignominy in this entire model of recollection of the national wealth that would bring this malpractice to a dead halt? As the political will sees degeneration, the society descends into chaos where a lack of faith in the leaders has led people to take everything including the dispensation of justice into their shaky hands. The grotesque episodes of mob violence and increased criminal activities complete this chain of lawless disorder that has the potential to grow in a similar manner and pace if prevalent practices continue.
Die Hard Old Guard E
gypt's military rulers want elections in six months' time but political activists who ousted Hosni Mubarak fear remnants of his administration and the tight deadline for polls pose threats to an incomplete revolution. While Mubarak's fall from power shows how much has changed since protesters first took to the streets a month ago, the apparatus of the state which served him for three decades remains largely intact. Egypt is still ruled by people he appointed in a system of government that the opposition says needs a complete overhaul. The military council to which Mubarak handed power on Feb. 11 is committed to overseeing democratic elections and appears eager to give up its role in government to a civil authority. But it also seems hesitant to do much more than that on the reform front, wanting to leave further changes to the government that emerges in the coming months. The tight timetable for elections is a source of concern for many planning to run.
"There is legitimate fear for the revolution stemming from those seeking to ambush it and those who have an interest in its failure," wrote Amr Hamzawy, research director at the Beirut-based Carnegie Middle East Center. Publishing in Shorouk newspaper, Hamzawy described a threat from "those gathered around the previous president in Sharm el-Sheikh or those embroiled in the authoritarian, corrupt system which he established for the past decades". The military's steps towards elections have been welcomed by the opposition. But the rapid course it has charted on that path is causing concern for Egyptians who say more time is needed for political life to recover from decades of oppression. Quick elections suit politicians associated with Mubarak's National Democratic Party who survived a corruption crackdown that is targeting high-profile figures from his era. They are already mobilising for the legislative elections which the military has said it hopes to hold within six
months. The deeply-rooted Muslim Brotherhood is the only other group whose interests are suited by a quick vote. An experienced Islamist group, it could be ready for elections in weeks, though it will not seek a majority or run for the presidency. "THIS CANNOT HAPPEN IN SIX MONTHS" "I have a lot of reservations about Egypt's interim period: moving from a dictatorial to a free, independent nation," said Mohamed ElBaradei, a leading figure in the Egyptian opposition movement that coalesced to topple Mubarak. Egyptians need time to form political parties and to communicate with the people, he told Al Arabiya television. "This cannot happen in six months." "Others say the six-month time frame is fair because it is equally short for everyone." His remarks echoed the views of others, including the newly-established Wasat Party, which have called for a year or more of interim government before elections. Unlike 1952, when Egypt
went through a revolution led by the army, the military appears to have no appetite to stay in power, diplomats in Cairo say. It would like to return to its old role in defence while guarding economic privileges built up over the years and seems uneasy in government. That is why it is moving quickly with the reforms needed for elections. Reaching out to the public through media including a page on Facebook, the military still enjoys broad respect for its public commitment to meeting the aspirations of the Egyptians who rose up against Mubarak. Constitutional reforms designed to open up politics have been unveiled and will be put to a referendum within weeks. But the council, headed by Mubarak's long-time defence minister, seems reluctant to do more than the bare minimum on reform, a Western diplomat said. "We think they are looking to do as little as possible on the decision front. They know they have to deliver constitutional amendments and free
Another recession on way? The wave of democratic rights in population of North African autocratic countries richly blessed with natural resources making huge cache of national income by importing crude oil and natural resources throughout the world with strategic location of for the export of oil through Suez have caused concern for the world. The economies are responding promptly and adjusting fresh positions in the light of anticipations and speculations. Economist and inventors with not much forgotten two to three years back recession effects are extremely careful this time and responding accordingly in assessing markets. Although much of oil stakes are still located in countries other than those affected now a days, investors concern for peaceful environment and stability around the globe remains prime factor. With the anticipation of oil transportation charges for more than 4000 kilometers if Suez canal is closed, crude sparked
up in last few days shaking the economy of countries with developing and frontier markets. Much of those are finding place in gold as safe heaven in crisis and gold future is trading above 1410 $ in international market and considered still bullish expected to see all time high. Commodity prices in international market are also witnessing up trend making it difficult for consumers and sellers to engage in trade transaction comfortably. This is expected to hurt the economical figures of many countries. Forex markets with no exception are also unpredictable with investors feeling confidence in major currencies particularly dollar and euro with selling seen in currencies of unstable countries in parity in last some sessions. Stock markets of North African countries are adversely affected as expected and finding no support. Regional stock markets such as India, Bangladesh and Sri Lanka are also passing though correction
phase with investor loosing much hopes in very short terms. US and European stock markets have also underperformed in last one month despite good earnings and ongoing result sessions. Our market 100 index has also lost more than 1200 points in no time although some of the effects are the result of internal political situation, poor economical outlook and loosing of sustainable relationship with USA owing to Raymond Davis issue. Looking all in critical manner reveals situation somewhat similar we passed through in year 2008 when gradually economies were crashing and later a recession was seen al over the globe. Right now things have not turned to worse but indicators are there that it may yield another recession which will be far quicker repetition of sinking economy and bringing worst in employment and production sectors and in exploration of opportunities. Fahim Akhtar, Karachi
and fair elections. That's really all they have committed to," the diplomat said. That mindset could explain why Ahmed Shafiq, appointed prime minister by Mubarak in the last weeks of his rule, is still in office. It might also explain why the military has yet to signal any intention to enact a major reform of the police force whose reputation for brutality helped fuel the uprising. Shafiq, a former military officer, was the target of a protest in Tahrir Square last Friday calling for his removal. Thousands of protesters urged his resignation during a demonstration that was less well attended than those that brought down Mubarak but which indicated that street protest is here to stay as a feature of Egyptian politics. Hamzawy warned that since Mubarak stepped down on Feb. 11 the opposition was passing through "a foggy moment which had stripped it of the strategic initiative". "I fear it will lead to a state of confusion in action with very serious consequences", he wrote.-Reuters
Playing with six bowlers & solid batsmen With World cup Matches going on, coming events are casting their shadows well before time. Cricket fans and analysts are adjudging strengths and weaknesses of teams. Thrilled crowds and their hustle bustle, enthusiasm of players adding more colour to the big show. While enjoying all this, we have to keep an eye on what is happening in big matches. In the opening matches batsmen dominated but gradually blowers are gaining rhythms. Pakistan has to focus on its bowling. Less than 6 bowlers will not suffice as we have comparatively less strong bowling attack. Concentrated, wicket to wicket bowling without wide and no balls will work for us simultaneously, igniting passion in batsmen to play boldly but sensibly. I feel, its time for selectors to rethink for inclusion of Muhammad Yousaf in the team, the master batsman has vast experience and can stand up during various odds. His batting can strengthen the rather murky top batting and will give some backbone to our batting. Saeed Ajmal may also be brought back as he has unique bowling that may perturb any opposition. It is hoped that someone in PCB will also think in these terms and make some adjustments in cricket team which is quite agile to win the World Cup. Good luck Pakistan. Iftikhar Shaheen Mirza, Karachi
5
Wednesday, March 2, 2011
South East Asian stocks
Singapore leads regional gains
European stocks end lower on Middle-East jitters KSE-100 Index Opening Closing Change % Change Turnover (mn)
11,289.23 11,608.43 319.20 2.83 153.04
LSE-25 Index Opening Closing Change % Change Turnover (mn)
ISE-10 Index 2,687.14 2,772.55 85.41 3.18 0.05
Major Gainers
Symbol
Close
Change
ULEVER 4,682.12 BATA 551.65 SIEM 983.16 APL 355.22 POL 306.29
23.92 23.23 20.08 15.20 13.91
Major Losers
Symbol
Close
Change
UPFL 1,257.48 NESTLE 3,400.24 RMPL 2,507.35 SITC 95.55 ISIL 83.22
-66.18 -55.26 -37.86 -5.02 -4.16
Top 5 Volume Leaders
Symbol
Close Vol (mn)
LOTPTA NBP BOP NCL HUBC
15.53 71.59 7.44 24.47 38.60
27.00 14.06 9.26 7.49 6.80
Active Issues Plus Minus Unchanged
220 68 93
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to Dec 10) Urea Offtake (Dec 10) Urea Price (Rs/50 kg) DAP Offtake (Jan to Dec 09) DAP Offtake (Dec 10) DAP Price (Rs/50 kg)
6,123 626 1,020 1,317 90 3,143
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Jan 11) 47,153 Sales (July 10 to Jan 11) 45,113 Production (Jan 11) 6,698 Sales (Jan 11) 6,793
INDUS MOTOR CO Production (July 10 to Jan 11) Sales (July 10 to Jan 11) Production (Jan 11) Sales (Jan 11)
29,078 28,293 5,596 5,885
HONDA ATLAS CAR Production (July 10 to Jan 11) 9,279 Sales (July 10 to Jan 11) 8,779 Production (Jan 11) 1,511 Sales (Jan 11) 1,904
DEWAN FAROOQ MOTORS Production (July 10 to Jan 11) Sales (July 10 to Jan 11) Production (Jan 11) Sales (Jan 11)
186 113 0 23
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (Feburay 4,11) 5,046,861 Advances (Feburay 4,11) 3,140,675 Investments (Feburay 4,11) 2,100,015 Spread (Feburay 4,11) 7.61%
OIL MARKETING CO (000 tons) MS (Jul 10 to Dec 10) MS (Dec 10) Kerosene (Jul 10 to Dec 10) Kerosene (Dec 10) JP (Jul 10 to Dec 10) JP (Dec 10) HSD (Jul 10 to Dec 10) HSD (Dec 10) LDO (Jul 10 to Dec 10)) LDO (Dec 10) Fuel Oil (Jul 10 to Dec 10) Fuel Oil (Dec 10) Others (Jul 10 to Dec 10) Others (Dec 10)
PRICES (Ex-Refinery) MS (1 Feb 11) MS (1 Jan 11) MS % Chg Kerosene (1 Feb 11) Kerosene (1 Jan 11) Kerosene % Chg JP-1 (1 Feb 11) JP-1 (1 Jan 11) JP-1 % Chg HSD (1 Feb 11) HSD (1 Jan 11) HSD % Chg LDO (1 Feb 11) LDO (1 Jan 11) LDO % Chg Fuel Oil (1 Feb 11) Fuel Oil (1 Jan 11)
KSE Observes Gain Day Nawaz Ali
3,364.16 3,498.49 134.33 3.99 8.09
Opening Closing Change % Change Turnover (mn)
Finance Minister to launch MTS on Saturday at KSE
1,122 188 81 15 727 138 3,426 634 32 6 4,331 690 6 2
Rs 51.74 49.41 4.72% 58.28 55.01 5.94% 58.51 55.24 5.92% 61.80 58.55 5.55% 55.32 53.46 3.48% 47,931 45,947
KARACHI: With the final Margin Trading System (MTS) launch date made known and mouthwatering NBP payouts Karachi Stock Exchange on Tuesday reclaimed a good deal of weight it lost recently. The benchmark KSE 100Index jumped by 319 points 2.83 per cent-- to close at 11,608 points while KSE 30Index increased by 370 points -3.38 per cent to close at 11,310 points, and KSE AllShare rose by 214 points --2.72 per cent--- to close at 8,069 points. Ahsan Mehanti, Director at Arif Habib Investments said that buying across the board started after Finance Minister
US stocks mid-day
Wall St falls as oil fuels recovery worries NEW YORK: US stocks dropped on Tuesday as investors worried that rising oil prices could choke off the economic recovery, with equities looking to keep taking their lead from oil prices in the near term. US Federal Reserve Chairman Ben Bernanke said the recent surge in oil prices was unlikely to derail the economy, but his comments did little to reassure investors worried that turmoil in the Middle East could hit Saudi Arabia, the world's largest oil exporter. "All eyes continue to be on turmoil in the Middle East," said Michael Sheldon, chief market strategist at RDM Financial in Westport, Connecticut. "The million-dollar question remains what happens to Saudi Arabia." The Dow Jones industrial average dropped 76.25 points, or 0.62 per cent, to 12,150.09. The Standard & Poor's 500 Index fell 10.56 points, or 0.80 per cent, to 1,316.66. The Nasdaq Composite Index lost 26.54 points, or 0.95 per cent, to 2,755.73. The US manufacturing sector grew in February at its fastest rate since May 2004 in another sign the world's largest economy continued to recover, helping put a floor under stock prices. There were signs of a defensive stance in the market as cyclical sectors experienced the biggest losses, while defensive sectors such as utilities, healthcare and consumer staples -which do better in times of uncertainty -- gained. The S&P's consumer staples index rose 0.12 per cent, while materials was off 1.3 per cent and financials fell 1.2 per cent. See # 18 Page 11
expected corporate result announcement by National Bank with good payouts and rise in local petroleum prices intensified the bullish activities and the index before closing touched an intraday high t 11,625 points (+ve 336) and finally called it a day there. "Higher than expected payout of National Bank triggered buying across the board", said Samar Iqbal, equity dealer at Topline Securities. National Bank of Pakistan announced a profit after tax of Rs17.56 billion for the year ended Dec 31, 2010 (EPS: Rs13.05). The company also announced a cash dividend of Rs7.5 per share and 25 per cent bonus issue. Though market saw a sump-
tuous bull-run but offshore investors on Tuesday were wearing their get-rid-of-it hat as according to NCCPL they net-sold stocks worth $3.83 million. Volumes also remained significantly higher as 153 million shares traded in the day being 66.8 million more than a turnover of 86.2 million shares on Monday. Lotte Pakistan stood as the volume leader with 27 million shares followed by National Bank with 14.06 million and Bank of Punjab with 9.26 million shares. As far as actives are concerned they were about 381 of which 220 gained some weight, 68 lost, and 93 maintained it.
Japan low inflation risk helps Nikkei
FTSE falls on new ME concerns
TOKYO: Japan's Nikkei average clawed back towards 10month highs to add 1.2 per cent on Tuesday as foreign investors piled into Japanese stocks on a lower inflation risk, with more hard-won gains seen in the medium term. Despite uncertainty about higher oil prices and developments in the Middle East, foreign investors may chase the Nikkei higher, although gains will likely be limited by window-dressing by domestic institutional investors for the financial year-end on March 31, market players said. While the Nikkei's fall of almost 3 per cent last week stirred speculation that it might enter a short-term downtrend, bulls bought on dips as the factors that had fuelled a rally of about 17 per cent since November -- excess liquidity, stronger corporate earnings and hopes for further recovery in the US economy -- remain largely intact. "US and European investors have been the main players in the Japanese market. But Asian investors have joined in as Japan is one of the few countries with a low risk of rate
LONDON: Britain's leading share index fell 1 per cent on Tuesday on concerns that political unrest could spread to top oil exporter Saudi Arabia, pushing crude prices higher and sending oil-sensitive travel firms lower. Brent crude rose 1.8 per cent to above $113 a barrel on a report, promptly denied, of Saudi involvement to try and quell protests in Bahrain. Nevertheless, the report in an Egyptian newspaper rattled investors. Travel-related stocks bore the brunt. Cruise operator Carnival shed 6 per cent in heavy trade, InterContinental Hotels lost 4 per cent, and International Airlines Group slipped 0.8 per cent after trading as much as 3 per cent higher earlier. "Libya is a sideshow; it's not as big a show as a week ago. Saudi Arabia is a big concern," said Jawaid Afsar, trader at Securequity. "The slightest of rumours will make this market roll over very quickly." Revolt in Libya has cut as much as half of the Opec member's output, though Saudi Arabia has stepped in and plugged the supply gap. The worst-case scenario for oil markets would be an interruption to See # 14 Page 11
consented to visit KSE to launch Margin Trading System. Session started with bulls at the trading floor and index with 33 plus points. Positive activities sustained throughout the day as investors took positions almost across the board over recovery in regional stock markets and on widespread word of mouth that much awaited leverage product would come on line by March 7. Thenceforward it was officially announced that the Federal Minister for Finance and Economic Affairs Dr Abdul Hafeez Sheikh would visit the exchange on Mar 5 to attend the launching ceremony of Margin Trading System (MTS). Further, better than
hikes," said Shun Maruyama, chief strategist at Credit Suisse. "They are buying Japanese stocks on a process of elimination as Japan has more tolerance for higher oil prices than other Asian countries." The benchmark Nikkei ended the day up 129.94 points at 10,754.03. The broader Topix advanced 1.3 per cent to 963.7. The Nikkei's support now looms at its 25-day moving average of 10,580.81 and the target is seen around this year's closing high of 10,857.53 hit on Feb. 21, investors said. Data released on Tuesday showed Chinese manufacturing growth slowed in February to a six-month low as the government's sustained campaign to tame inflation weighed on industrial activity. But soaring global commodity costs complicated the task of monetary tightening, pushing a gauge of industrial input prices to a three-month high in China's official purchasing managers' index. Although such commodityfuelled inflation is normally seen as bad, since it reflects rising input costs, it can be seen as See # 15 Page 11
ANNOUNCEMENTS Company Period NIB Bank Yearly National Bank Yearly National Bank (Consolidated) Yearly Azgard Nine Yearly Azgard Nine (Consolidated) Yearly NIB Bank Yearly Samba Bank Yearly Summit Bank Ltd Yearly Summit Bank Ltd Yearly Summit Bank Ltd Yearly Agritech Limited Half Yearly Agritech Limited (Consolidated)Half Yearly Apollo TextileXD Half Yearly Azam Textile Half Yearly Bal.Glass Half Yearly Bannu WoollenXD Half Yearly Bestway Cem Half Yearly Climax Eng. Half Yearly Flying Cement Half Yearly Gammon Pak Half Yearly Gulistan Sp. Half Yearly Gulistan Textile Half Yearly Hala Enterpries Half Yearly I.C.C.Textile Half Yearly Ishtiaq Textile Half Yearly Janana D Mal Half Yearly
Div/Bon/Right 154.79%(R) 75%(D),25%(B) See # 16 Page 11
PAT (Rs in mn) -10,112.11 17,563.21 17,738.41 -1,395.27 -757.73 -9,706.76 -119.59 -3,018.37 -322.70 -3,032.14 196.72 265.93 -38.80 41.14 -204.02 134.37 -477.05 -12.59 -65.12 -2.63 176.48 331.10 -16.01 -72.87 15.18 99.68
EPS(Rs) -2.50 13.05 13.24 -3.13 -2.17 -2.40 -0.10 -4.16 -0.65 -4.18 0.50 0.68 -4.68 3.10 17.67 -1.46 -3.80 -0.37 -0.09 12.05 17.44 -4.24 -7.29 3.57 23.15
China, HK mkts rise, poised for more gains HONG KONG: Shanghai shares rose on Tuesday in active trade, lifting the Hong Kong market, and looked poised for further gains thanks to subsiding inflation fears, attractive valuations and benign chart patterns. The Shanghai Composite, Asia's best performing benchmark in February, extended its run and rose 0.5 per cent, helping lift Hong Kong-listed Chinese shares. The index of top Chinese firms trading there
rose 0.9 per cent, outperforming the broader Hang Seng which was hobbled by a slump in HSBC. While a pair of purchasing managers' surveys showed Chinese manufacturing grew at its slowest in at least half a year last month, investors saw that as an encouraging sign that Beijing's campaign to prevent the economy from overheating was bringing results, reducing the risk of aggressive tightening ahead.
And with earnings season under way, investors are focusing on valuations, which look attractive especially given that analysts are yet to make significant revisions to annual forecasts. According to Thomson Reuters data, the H-share index in Hong Kong was trading at a multiple of about 9.4 times its forecast 12-month forward earnings - its lowest in two years. See # 17 Page 11
India shares up 3.5pc on budget MUMBAI: The BSE Sensex climbed 3.5 per cent on Tuesday, its biggest single-day rise in 21 months, as investors bet a strong growth outlook for Asia's third-largest economy and measures proposed in the budget would attract foreign inflows. Financial stocks led gains as worries of higher interest rates eased after a lower-thanexpected government borrowing plan, while automobile stocks rose as sales at top automakers continued to gain ground. "There were several positive signals in the budget in terms of economic growth, tackling inflation and opening up to foreign investors," said said K.K. Mital, head of portfolio management services at Globe Capital. "The mood of investors seems to have changed and we are seeing a pullback in sectors that were beaten down in the past few weeks." The manufacturing sector
expanded at its fastest clip in three months in February as more new orders poured in, but input prices rose at a record pace, a survey released on Tuesday showed. Finance Minister Pranab Mukherjee said on Monday he expected inflation would ease and India's economy would grow around 9 per cent in fiscal 2011/12 beginning April, up from an 8.6 per cent growth expected in the current fiscal year. On Tuesday, the 30-share BSE index closed up 623.10 points at 18,446.50 points, with all of its components advancing. The benchmark is down 10 per cent so far this year, with foreign funds pulling out $2.2 billion following a spate of political corruption scandals, and high inflation and rising borrowing costs denting the pace of growth. The economy grew a slowerthan-expected 8.2 per cent See # 12 Page 11
SSGC posts Rs2.1bn PAT Staff Reporter KARACHI: Sui Southern Gas Company (SSGC) has announced a profit after tax of Rs2,113 million (EPS: Rs2.52) for the half year ended 31st December 2010, compared to PAT of Rs219 million (EPS: Rs0.33) in the corresponding period last year, an increase of Rs1,894 million. Despite increase in the number of gas producing fields, the supply of gas available decreased by 6.4 per cent to 202.7 BCF. However, the company was successful in maintaining steady supplies to its customer base and gas had been allocated to power sector, industries and CNG stations in the best national interest. Due to supply side constraints gas sales decreased by 8 per cent. The average sales price per MMBTU increased by 15 per cent to Rs329.10 versus Rs286.70 during same peri-
od last year, due to increase in tariff by Ogra. Management treated the outstanding amount from KESC as part of the inter-corporate circular debt. The Board had advised the management to more actively take up the matter with federal and provincial governments for resolution of KESC dues and inter-corporate circular debt. As a result of proactive negotiations with KESC, since November 2010, the latter has been paying an amount equivalent to its monthly bill on the due dates. An agreement is also being finalised between KESC and SSGC. Meter manufacturing plant produced 348,650 units versus 326,250 produced in the same period last year, i.e. an increase of 22,400 meters or nearly 7 per cent. The plant's profit increased to Rs113 million as compared to Rs103 million same period last year. See # 13 Page 11
Dhiyan
OPTIMISM Faisal Shaji, Head of Research Standard Capital Last session's bull-run has more or less revived the sentiments. Positive activities may go on in days to come where index can touch 12,500 points as corporate earnings are expected to grow by 15 per cent. Contrary to others, I think Davis issue and current political situation would not hurt the market. Following the Libya crisis, the international oil prices would stay higher which may spur a small rally in oils. Investors better lay hands on oil & gas exploration, chemical, and strong power stocks. Key interest rate which is likely to stay unchanged would be the trigger. It would be positive today.
Muzzammil Khan, AVP BMA Capital The bullish activities in the market are anticipated to push ahead during the remaining days of the week and index can gain 200 points more from the recent development regarding Margin Trading System (MTS) and good corporate result announcements by banks. However we might see some correction at 11,800 levels. Investors should be cautious and invest in those stocks which have announced good payouts like in fertiliser and banking sectors. Market would be positive today.
6
Wednesday, March 2, 2011
Market Volume
153,038,125
Value
7,067,998,869
Trades
81,419
Paid up Cap(mn)
Advanced Decline Unchanged Total
Current High Low Change
220 68 93 381
All Share Index
11,608.43 11,625.96 11,289.23 h319.20
Current High Low Change
KSE 30 Index
8,069.24 8,082.36 7,855.24 h214.00
Current High Low Change
KMI 30 Index Current High Low Change
11,310.68 11,327.56 10,940.68 h370.00
19,227.57 19,255.08 18,671.73 h555.84
OIL AND GAS
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index
Performance of SR Industrial Transportation Index
Open 1,406.37 Turnover 8,607,889 P/E (x) 10.07 Company
KSE 100 Index
Symbols
High Low 1,464.72 1,410.36 Total cos Defaulter cos P/BV (x) ROE (%) 3.28 32.54
PE
Open
High
Low
Attock Petroleum XD 691 6.42 Attock Refinery 853 4.42 BYCO Petroleum 3921 Mari Gas Company 735 7.45 National Refinery 800 5.88 Oil & Gas Development 43009 10.11 Pak PetroleumSPOT 11950 7.70 Pak Oilfields XD 2365 7.06 Pak Refinery Limited 350 P.S.OSPOT 1715 4.85 Shell Gas LPG 226 Shell Pakistan 685 10.30
340.02 103.46 8.76 104.07 270.04 145.39 200.47 292.38 87.61 280.18 26.06 195.29
357.02 108.63 9.19 108.23 283.54 150.60 210.49 306.99 91.99 288.00 27.00 202.00
342.65 105.01 8.85 104.85 271.05 145.01 201.99 294.25 88.45 281.55 26.00 197.99
Close Chg 355.22 108.63 9.12 107.31 283.54 149.43 210.47 306.29 91.99 286.77 26.00 200.84
15.20 5.17 0.36 3.24 13.50 4.04 10.00 13.91 4.38 6.59 -0.06 5.55
Close Change 1,458.33 51.96 Listed cap Market cap 65,194.15 mn 1,101,351.69 mn Payout (%) Div Yield (%) 55.94 5.56 Last 60 days High Low
Volume 482504 938176 879652 42293 265042 1266800 1971882 2969686 124879 519045 2215 25367
401.00 146.90 12.24 141.65 335.00 185.00 229.80 341.50 122.22 317.79 38.30 222.00
321.00 98.25 8.20 99.46 254.00 144.97 190.10 272.20 83.00 265.00 26.00 186.83
2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
% Change 3.69 5-Day High 1,458.33 5-Day Low 1,406.37 2011 Div BR (%) (%)
20B115.00 - 23.43 - 15.00 20B 50.00 -100.00 - 50.00 -
-
CHEMICALS
Open 668.51 Turnover 3,068 P/E (x) 5.18 Company
High Low 692.02 676.14 Total cos Defaulter cos P/BV (x) ROE (%) 1.32 25.53
Close 687.68 Listed cap 3,242.17 mn Payout (%) 11.08
Change 19.18 Market cap 11,836.34 mn Div Yield (%) 2.14
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
1092 1321
6.50 8.96
65.24 32.25
67.80 32.98
66.30 32.05
67.64 32.25
2627 441
76.65 39.45
Pak Int Cont.Terminal PNSC
2.40 0.00
63.00 31.00
Company
Company
Paid up Cap(mn)
PE
High Low 1,627.34 1,567.07 Total cos Defaulter cos P/BV (x) ROE (%) 3.16 35.00
Open
High
Low
Agritech Limited 3924 24.33 24.33 BOC (Pak) 250 9.08 85.10 Clariant Pak 273 7.04 197.48 Dawood Hercules 1203 14.34 246.65 Descon Chemical 1996 2.52 Descon Oxychem Ltd. 1020 8.71 6.39 Dewan Salman 3663 2.54 Dynea Pak 94 5.91 11.00 Engro Corporation Ltd 3277 11.78 208.51 Engro Polymer 6635 - 12.17 Fatima Fertilizer 22000 - 11.64 Fauji FertilizerXDXB 8482 7.29 114.74 Fauji Fert.Bin Qasim 9341 7.80 40.33 Ghani Gases Ltd 725 9.87 10.98 ICI Pakistan 1388 8.83 147.17 Ittehad Chemical 360 6.07 26.35 Leiner Gelatine 75 - 10.16 Lotte Pakistan 15142 5.71 14.53 Mandviwala 74 0.96 Nimir Ind Chemical 1106 25.60 2.41 Pak Gum 42 - 16.68 Shaffi Chemical 120 2.05 Sitara Chem Ind 214 8.06 100.57 Sitara Peroxide 551 5.61 12.65 Wah-Noble 90 5.58 36.00
23.12 89.35 198.99 257.39 2.80 6.74 2.77 11.00 216.00 12.40 12.00 119.00 41.49 11.50 154.52 27.55 11.16 15.53 0.98 2.66 17.00 2.24 99.75 13.14 36.89
23.12 84.85 195.75 246.41 2.41 6.40 2.48 11.00 207.62 12.10 11.53 115.01 40.31 11.00 147.00 27.55 11.16 14.61 0.57 2.38 17.00 2.10 95.55 12.56 36.26
Close Chg 24.33 88.45 196.71 256.12 2.65 6.62 2.66 11.00 214.38 12.40 11.97 118.51 41.33 11.25 154.52 27.55 11.16 15.53 0.98 2.56 17.00 2.14 95.55 13.01 36.27
0.00 3.35 -0.77 9.47 0.13 0.23 0.12 0.00 5.87 0.23 0.33 3.77 1.00 0.27 7.35 1.20 1.00 1.00 0.02 0.15 0.32 0.09 -5.02 0.36 0.27
Close 1,619.07 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 150 9025 49914 777843 145198 366435 1321130 2000 3915283 129112 869444 3748952 5735281 24980 306648 500 1301 26999783 16023 1078300 1000 775 17687 72498 1501
Change 50.44 Market cap 353,233.88 mn Div Yield (%) 5.40
26.73 103.94 213.30 259.48 3.74 9.25 4.24 11.98 222.80 15.87 12.64 157.90 43.99 13.07 158.49 36.00 19.90 16.80 2.45 3.17 28.20 3.10 131.90 14.54 41.99
21.51 82.00 155.00 165.73 2.34 6.00 1.96 10.06 184.71 11.75 9.16 108.00 34.60 10.66 136.50 23.07 9.15 12.52 0.57 1.50 16.68 1.55 95.55 11.81 33.20
2010 Div BR (%) (%) 60 135 25B 50 300B 15 60 20B 130 25B 65.5 175 5 5 25 5B 50 -
% Change 3.22 5-Day High 1,619.07 5-Day Low 1,517.51 2011 Div BR (%) (%) 5 -
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 963.20 Turnover 19,968 P/E (x) 5.02 Company
High Low 997.03 973.81 Total cos Defaulter cos P/BV (x) ROE (%) 0.37 7.47
Close 973.95 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 50 411
8.56 6.25
14.69 39.00 34.43
15.01 40.75 35.94
14.90 37.05 35.00
14.90 0.21 37.13 -1.87 35.00 0.57
2013 8087 9868
Century Paper Pak Paper Product Security Paper
Change 10.75 Market cap 2,686.83 mn Div Yield (%) 5.03
Last 60 days High Low 19.69 48.90 47.70
14.50 37.05 34.00
2010 Div BR (%) (%) 2533.33B 50 -
% Change 1.12 5-Day High 1,016.51 5-Day Low 963.20
Paid up Cap(mn)
PE
High Low 1,151.47 1,090.53 Total cos Defaulter cos P/BV (x) ROE (%) 0.98 25.35
Close 1,130.70 Listed cap 6,768.53 mn Payout (%) 20.42
Open
High
Low
Close Chg
Volume
Agriautos Ind Atlas Battery Atlas Engineering Ltd Atlas Honda Dewan Motors Exide (PAK) General Tyre Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering
144 4.75 69.97 101 4.97 183.49 247 23.09 36.90 626 9.12 125.33 890 1.66 56 4.35 177.80 598 4.58 22.00 450 3.49 200 5.96 3.87 1428 9.87 786 10.13 230.45 823 10.36 62.50 150 3.97 21.67
73.25 188.40 37.40 131.59 1.88 186.00 23.10 3.35 4.29 10.75 240.00 65.62 22.00
70.00 183.05 37.40 127.00 1.60 180.25 22.39 3.05 4.29 10.01 224.00 62.50 21.98
72.45 2.48 187.24 3.75 37.40 0.50 131.39 6.06 1.85 0.19 177.80 0.00 23.10 1.10 3.27 -0.22 4.29 0.42 10.10 0.23 233.95 3.50 65.05 2.55 22.00 0.33
9800 5420 500 42481 200036 108 9657 25956 6000 4186 5076 36735 2250
Change 27.77 Market cap 41,909.56 mn Div Yield (%) 5.28
Last 60 days High Low
Open 1,933.35 Turnover 291,927 P/E (x) 47.31 Company
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind XD Siddiqsons Tin
High Low 1,008.77 965.03 Total cos Defaulter cos P/BV (x) ROE (%) 1.00 33.10
PE
Open
High
Low
565 2.91 675 555 446.67 1199 18.04 785 40.95
27.22 2.00 13.32 47.25 8.70
27.85 2.14 13.70 49.61 9.15
27.05 1.85 13.30 46.85 8.97
Close Chg 27.83 2.03 13.40 49.61 9.01
0.61 0.03 0.08 2.36 0.31
Close 1,005.44 Listed cap 3,596.11 mn Payout (%) 30.91
Last 60 days High Low
Volume 10830 44606 30259 74425 3400
31.00 3.29 16.51 62.20 10.70
24.01 1.80 13.00 45.81 8.51
2010 Div BR (%) (%) 30 55 7.5
% Change 3.70 5-Day High 1,005.44 5-Day Low 962.54
244 87 287 217 750 200 324 505 539 157 141 453 48 165 109 107 92 57 80
PE
-
Open
High
High Low 2,000.67 1,910.08 Total cos Defaulter cos P/BV (x) ROE (%) 14.34 30.30 Low
Close Chg
5.00 5.50 5.50 5.50 0.50 5.50 5.25 5.25 5.25 -0.25 3.14 9.00 8.87 8.05 8.05 -0.95 1.55 19.00 19.15 18.70 19.15 0.15 8.27 21.28 21.50 20.50 20.85 -0.43 7.31 11.56 11.99 11.67 11.99 0.43 - 16.00 16.50 16.50 16.00 0.00 20.40 87.38 87.00 83.05 83.22 -4.16 1.26 70.00 72.00 69.01 70.93 0.93 1.73 55.75 54.99 52.97 52.99 -2.76 3.17 3.47 3.25 3.25 0.08 37.49 3455.50 3559.00 3350.01 3400.24 -55.26 5.79 22.10 21.15 21.00 21.07 -1.03 1.18 10.40 11.00 10.45 11.00 0.60 3.23 4.00 3.25 4.00 0.77 7.16 2.70 3.15 2.99 3.15 0.45 12.60 2545.21 2665.78 2451.11 2507.35 -37.86 0.29 4.56 4.75 4.02 4.75 0.19 6.16 7.16 6.12 6.12 -0.04
Close 1,929.19 Listed cap 11,335.33 mn Payout (%) 30.57
Open 804.81 Turnover 5,104,283 P/E (x) 5.30 Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Cherat Cement Dadabhoy Cement Dewan Cement DG Khan Cement Ltd Fauji Cement Fecto Cement Flying Cement Ltd Frontier Ceramics Gammon Pak Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Pioneer Cement Shabbir Tiles Thatta Cement
High Low 835.60 802.69 Total cos Defaulter cos P/BV (x) ROE (%) 0.38 7.10
PE
Open
High
Low
1828 866 6.45 858 182 956 37.50 982 12.46 3891 3651 10.23 6933 5.75 502 2.12 1760 77 283 32 1288 13126 3234 5.69 5261 2228 361 798 861.50
2.44 50.62 2.13 15.20 8.75 1.57 1.60 22.55 4.14 6.71 1.40 2.00 1.22 0.52 5.53 2.78 61.47 2.11 5.45 6.02 16.27
2.68 50.99 2.54 16.00 9.00 1.78 1.92 23.67 4.30 7.45 1.58 2.00 1.21 0.53 5.70 2.92 63.50 2.25 5.68 6.70 17.27
2.38 48.50 2.15 14.90 8.94 1.60 1.60 22.65 4.06 7.00 1.36 1.51 1.21 0.47 5.50 2.80 61.10 2.10 5.50 6.70 17.00
Close 828.63 Listed cap 54,792.74 mn Payout (%) 19.04
Change 23.82 Market cap 60,630.98 mn Div Yield (%) 3.59
Close Chg
Volume
Last 60 days High Low
2.56 50.95 2.43 15.80 9.00 1.62 1.81 23.63 4.14 7.00 1.57 2.00 1.21 0.47 5.64 2.86 63.36 2.23 5.54 6.02 17.23
4605 4277 5232 4606 5000 100703 469605 2066377 320592 6993 53261 10425 990 45501 27467 582801 1044664 337654 6724 200 6567
3.98 64.40 4.24 24.16 12.00 2.49 3.10 32.30 5.55 8.00 2.25 3.40 3.65 0.99 7.44 3.88 78.44 3.30 7.65 9.60 20.20
0.12 0.33 0.30 0.60 0.25 0.05 0.21 1.08 0.00 0.29 0.17 0.00 -0.01 -0.05 0.11 0.08 1.89 0.12 0.09 0.00 0.96
2.25 48.50 1.46 14.72 8.00 1.50 1.50 21.20 3.97 6.30 1.30 0.71 1.01 0.25 5.11 2.65 59.55 1.92 5.17 5.70 16.20
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 - 50R
% Change 2.96 5-Day High 835.95 5-Day Low 788.89 2011 Div BR (%) (%) -
20R 92R -
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 893.43 Turnover 66,688 P/E (x) 2.56 Company
Paid up Cap(mn)
Cherat Papersack XR ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Siemens Engineering Tri-Pack Films
PE
Open
High
Low
Close Chg
115 2.28 48.73 50.10 49.40 49.61 0.88 230 2.43 2.60 2.26 2.49 0.06 1067 5.32 50.52 51.75 51.00 51.19 0.67 389 4.00 4.01 3.55 4.00 0.00 47 17.27 29.61 31.09 30.40 31.09 1.48 844 - 109.58 115.05 110.99 115.05 5.47 82 9.97 963.08 1011.23 950.00 983.16 20.08 300 8.31 133.70 137.00 132.25 136.99 3.29
Volume
Last 60 days High Low
500 6.99 4.05 2290 6.73 2.51 2005 13.90 8.05 6974 21.73 17.25 190822 36.50 20.25 1625 12.95 11.50 455 23.62 14.71 540 90.00 68.60 17660 92.50 68.00 3698 68.49 52.60 7804 7.18 2.65 1106 3695.00 2100.00 1400 27.24 21.00 1780 14.45 9.00 6481 6.99 3.00 25500 4.00 2.06 349 3016.00 1860.00 20000 4.75 2.50 591 8.95 5.90
Open 995.47 Turnover 178,304 P/E (x) 2.30
High Low 1,015.84 981.72 Total cos Defaulter cos P/BV (x) ROE (%) 0.25 10.64
Close 1,010.54 Listed cap 3,763.71 mn Payout (%) 6.27
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Volume
Change 26.64 Market cap 35,194.52 mn Div Yield (%) 6.06
Last 60 days High Low
9185 83.23 12170 3.30 2951 56.45 7400 4.19 367709 33.80 12936 143.00 452 1353.73 21594 144.50
47.80 2.05 45.30 2.50 17.95 103.52 915.00 111.25
2010 Div BR (%) (%) 20 25 32.5 900 100
25B 10B -
% Change 2.98 5-Day High 920.07 5-Day Low 888.57 2011 Div BR (%) (%) -
50R -
Gauhar Engineering Ltd 22 Pak Elektron 1219 Tariq Glass IndSPOT 231
3.22 2.24
1.40 12.38 17.32
2.35 12.95 17.88
0.75 12.40 16.82
1.00 -0.40 12.79 0.41 17.01 -0.31
17500 101668 59023
2010 Div BR (%) (%)
2.35 15.88 24.00
17.5
0.45 12.07 16.00
PE
Open
66 10.16 14.18 100 5.75 215 5.01 222.01 104 4.52 43.00 214 0.91 213 7.54 8.66 132 6.84 55.02 366 7.78 493.74
High
Low
Close Chg
13.41 13.18 13.41 5.00 5.00 5.75 225.80 221.00 222.75 45.15 45.00 45.01 1.00 0.82 0.90 8.85 8.25 8.60 57.77 54.55 57.10 506.00 495.00 505.05
-0.77 0.00 0.74 2.01 -0.01 -0.06 2.08 11.31
Volume 210 400 1824 4004 4535 66328 2080 25814
Change 32.20 Market cap 31,989.60 mn Div Yield (%) 17.72
Last 60 days High Low 18.20 6.50 244.95 48.63 2.40 13.50 70.80 568.40
13.18 5.00 214.90 42.90 0.21 8.25 54.27 466.27
2010 Div BR (%) (%)
Open 972.14 Turnover 19,505,918 P/E (x) 6.25 Company
Paid up Cap(mn)
(Colony) Thal AL-Qadir Textile Amtex Limited Azam Textile Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Chenab Limited Colony Mills Ltd Colony Sarhad Crescent Jute D S Ind Ltd Data Textile Dawood Lawrencepur Dewan Khalid Textile Dewan Mushtaq Textile Ellcot Spinning Gadoon Textile XD Gul Ahmed Textile Gulistan Spinning Gulshan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Ideal Spinning Idrees Textile Ishaq Textile Kohat Textile Kohinoor Ind Kohinoor Spinning Leather Up Masood Textile Mian Textile Mukhtar Textile Nagina Cotton Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Premium Textile Prosperity Quality Textile Quetta Textile Ravi Textile Redco Textile Reliance Cotton Reliance Weaving Rupali Poly Saif Textile Sajjad Textile Salfi Textile Sally Textile Samin Textile Sana Ind Sargoda Spinning Saritow Spinning Service Ind Suraj Cotton Tata Textile Thal Limited Treet Corp Yousuf Weaving ZahidJee Textile Zahoor Cotton Zephyr Textile Ltd Zil Limited
56 76 2594 133 4493 33 76 76 1150 2442 40 238 600 99 514 57 34 110 234 635 146 222 716 3105 99 180 97 208 303 1300 60 600 221 145 187 1614 3516 560 174 62 185 160 130 250 213 103 308 341 264 213 33 88 267 55 312 133 120 180 173 307 418 400 341 99 594 53
PE
Open
1.15 8.87 2.51 0.32 2.00 8.83 0.16 11.80 0.41 13.45 4.79 528.42 2.26 2.01 2.11 0.06 0.35 0.90 1.39 0.35 51.79 43.08 0.22 2.10 0.15 4.00 0.57 24.01 0.74 72.00 2.49 34.03 0.32 6.84 0.33 8.14 0.77 3.85 3.30 46.34 0.93 8.99 1.99 3.40 1.52 7.80 0.32 1.00 1.45 0.43 1.20 5.25 2.80 1.90 17.79 0.59 0.42 1.71 14.54 3.76 24.58 5.57 61.04 2.26 13.21 0.57 10.47 0.55 28.80 1.12 13.80 2.20 13.25 0.75 43.88 1.19 4.71 0.40 0.81 39.64 0.61 10.88 3.64 38.79 0.35 6.01 0.42 0.39 71.99 0.19 5.25 4.28 6.00 3.10 39.05 1.04 3.50 0.38 1.70 6.66 193.27 0.77 37.56 0.50 41.21 5.52 106.00 5.79 46.32 0.56 1.35 0.72 3.70 0.75 5.83 2.57 4.98 68.07
High
High Low 990.27 964.41 Total cos Defaulter cos P/BV (x) ROE (%) 0.54 8.64 Low
Close Chg
1.00 1.00 1.15 0.00 7.87 7.87 8.87 0.00 2.67 2.41 2.61 0.10 2.40 2.00 2.00 0.00 8.90 8.44 8.59 -0.24 12.80 12.50 12.80 1.00 14.45 14.40 14.45 1.00 554.84 502.00 551.65 23.23 2.44 2.20 2.26 0.00 2.35 2.20 2.29 0.18 0.30 0.30 0.30 -0.05 1.12 0.80 1.12 0.22 1.70 1.33 1.65 0.26 0.30 0.30 0.30 -0.05 44.98 43.00 44.02 0.94 2.00 2.00 2.00 -0.10 4.50 4.00 4.40 0.40 25.20 24.40 25.20 1.19 75.60 73.00 75.24 3.24 35.69 34.05 35.49 1.46 7.84 6.90 7.82 0.98 9.14 9.14 9.14 1.00 4.00 3.70 3.82 -0.03 46.00 44.25 45.62 -0.72 9.98 7.99 8.99 0.00 3.64 3.62 3.63 0.23 8.25 7.00 7.01 -0.79 1.01 1.00 1.00 0.00 1.70 1.45 1.55 0.10 1.09 1.07 1.07 -0.13 2.10 2.00 2.10 -0.70 17.79 17.79 17.79 0.00 0.36 0.36 0.36 -0.23 0.49 0.47 0.42 0.00 15.50 15.50 15.50 0.96 25.10 23.38 24.47 -0.11 63.10 60.50 62.73 1.69 14.21 13.25 14.16 0.95 11.47 11.47 11.47 1.00 29.94 28.50 28.83 0.03 14.49 14.25 14.25 0.45 13.65 13.65 13.65 0.40 46.07 41.69 41.69 -2.19 1.16 1.02 1.06 -0.13 0.80 0.79 0.80 0.40 38.05 38.05 39.64 0.00 11.88 11.50 11.88 1.00 39.90 39.00 39.18 0.39 7.01 6.00 7.01 1.00 0.52 0.50 0.50 0.08 71.99 68.50 68.50 -3.49 5.83 4.80 5.00 -0.25 6.70 5.00 5.99 -0.01 41.00 41.00 41.00 1.95 3.70 3.10 3.45 -0.05 2.33 1.62 1.88 0.18 197.00 193.00 194.62 1.35 39.43 38.50 39.42 1.86 43.15 39.15 39.15 -2.06 111.30 106.00 111.25 5.25 48.01 46.15 47.10 0.78 1.20 1.19 1.19 -0.16 4.00 4.00 4.00 0.30 0.45 0.45 0.45 -0.30 3.50 3.50 3.50 0.93 71.46 67.50 68.07 0.00
400 25 650
Open 829.08 Turnover 20,643 P/E (x) 6.41
% Change 2.12 5-Day High 1,551.18 5-Day Low 1,488.38 2011 Div BR (%) (%)
10B 25B325.00
-
4,530.16
MA (200-day)
7.23
Interest Expense
459.22
1st Support
9.16
Profit after Taxation
101.80
2nd Support
9.15
EPS 10 (Rs)
5.496
1st Resistance
9.16
Book value / share (Rs)
45.59
2nd Resistance
9.15
PE 11 E (x)
1.11
Pivot
9.15
PBV (x)
0.20
844.38 3,757.22
GSPM closed up 1.00 at 9.14. Volume was 2,648 per cent above average (trending) and Bollinger Bands were 7 per cent narrower than normal. The company's profit after taxation stood at Rs38.223 million which translates into an Earning Per Share of Rs2.06 for the 1st quarter of current fiscal year (1QFY11). GSPM is currently 22.7 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into GSPM (bullish). Trend forecasting oscillators are currently bullish on GSPM.
Saif Textile Mills Limited
RSI (14-day)
70.18
Total Assets (Rs in mn)
4,722.15
MA (10-day) MA (100-day) MA (200-day)
5.94 4.91 4.18
Total Equity (Rs in mn) Revenue (Rs in mn) Interest Expense
406.03 4,642.45 259.31
1st Support
6.29
Profit after Taxation
77.49
2nd Support
5.64
EPS 10 (Rs)
2.934
1st Resistance
7.30
Book value / share (Rs)
15.37
2nd Resistance
7.66
PE 11 E (x)
0.56
Pivot
6.65
PBV (x)
0.46
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis
SAIF closed up 1.00 at 7.01. Volume was 488 per cent above average (trending) and Bollinger Bands were 18 per cent narrower than normal. The company's profit after taxation stood at Rs82.072 million which translates into an Earning Per Share of Rs3.11 for the 1st quarter of current fiscal year (1QFY11). SAIF is currently 67.0 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of SAIF at a relatively equal pace. Trend forecasting oscillators are currently bullish on SAIF. Momentum oscillator is currently indicating that SAIF is currently in an overbought condition.
Soneri Bank Limited
10B -
% Change 1.51 5-Day High 1,028.45 5-Day Low 985.26 2011 Div BR (%) (%) - 200R
Performance of SR Personal Goods Index Close 981.80 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change 9.66 Market cap 131,190.57 mn Div Yield (%) 2.67
Last 60 days High Low
113 1.50 400 9.00 407280 4.80 4052 3.00 6458088 12.84 25208 14.00 14002 15.10 9200 705.00 14434 3.76 1812 2.97 5000 0.60 3063 1.43 257286 2.10 2500 1.10 15387 48.29 500 3.75 30025 8.90 8702 25.95 38002 77.40 12738 35.69 117299 7.84 271394 9.14 297600 4.47 7686 55.00 333 10.90 13471 3.90 5251 8.70 4000 2.50 60840 2.00 1005 1.74 1011 2.90 1000 20.74 893 0.75 200 0.88 3500 17.10 7490782 28.04 2245859 71.89 1191610 14.45 45905 12.75 1506 34.40 5351 15.50 500 14.25 1600 48.48 67671 1.98 20000 1.45 425 43.30 23912 11.88 7160 42.70 125975 7.01 2009 3.74 1351 76.43 49624 5.83 6104 7.00 501 49.66 15859 4.45 2503 2.89 2999 276.50 9107 41.95 2811 44.10 15110 132.00 69950 63.30 1007 1.99 1400 4.88 1000 0.87 2500 4.50 309 87.90
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
6.81 80.05 6.01 86.90 12.94 69.03 6.84 25.05 4.13 10.00 7.93 32.35 6.08 134.42 5.40 61.35
High
High Low 855.29 831.03 Total cos Defaulter cos P/BV (x) ROE (%) 1.43 22.31 Low
Close Chg
82.50 80.00 81.80 1.75 89.00 87.11 89.00 2.10 71.99 70.00 71.92 2.89 25.00 24.62 24.68 -0.37 10.75 10.00 10.50 0.50 30.76 30.75 32.35 0.00 141.14 134.00 141.14 6.72 61.80 61.80 61.80 0.45
Close 850.68 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 6957 3125 4780 600 2772 106 1799 500
Change 21.61 Market cap 28,097.34 mn Div Yield (%) 6.95
Last 60 days High Low 112.50 98.00 89.98 30.48 10.75 35.70 174.00 69.00
2010 Div BR (%) (%)
0.61 4.05 10 2.35 30 1.32 7.5 8.05 8.10 - 15B 12.60 20 493.50 280 2.05 2.00 0.30 0.32 1.20 0.08 35.00 5 1.50 2.90 18.90 35 47.99 70 24.25 12.5 5.02 10 6.30 10 20B 3.31 10 37.50 20 3.63 2.70 10 6.00 8 0.85 0.75 0.30 5 1.00 17.10 15 100R 0.25 0.13 14.50 20SD 21.15 15 57.20 25 45R 6.85 8.50 10 10B 25.00 50 13.10 30 12.25 15 34.35 20 0.65 0.40 33.99 20 8.50 25SD 35.25 40 3.90 0.15 52.00 25 3.63 10 4.55 - 100R 38.00 60 1.55 5 1.00 186.00 33.00 50 31.52 25 100.51 80 20B 44.10 1.05 2.27 0.45 2.56 50.00 35 -
PHARMA AND BIO TECH
Close 1,551.18 Listed cap 1,336.62 mn Payout (%) 131.49
Revenue (Rs in mn)
2011 Div BR (%) (%)
PERSONAL GOODS
Performance of SR Pharma and Bio Tech Index
High Low 1,557.70 1,519.08 Total cos Defaulter cos P/BV (x) ROE (%) 2.82 38.02
-
Total Equity (Rs in mn)
7.59
% Change -0.22 5-Day High 1,933.35 5-Day Low 1,902.97
10 25 25 25B 40 10 17.5 110R 7010B 12.5R 35 20B 7.50 10 750 12 10 1150 -
Last 60 days High Low
INDUSTRIAL ENGINEERING
Paid up Cap(mn)
Ados Pak AL-Khair Gadoon AL-Ghazi Tractor Bolan Casting Dewan Auto Engineering Ghandhara Ind KSB Pumps Millat Tractors XD
Close 920.07 Listed cap 3,043.31 mn Payout (%) 15.55
2010 Div BR (%) (%)
Change 15.08 Market cap 4,950.34 mn Div Yield (%) 2.72
Performance of SR Industrial Engineering Index Open 1,518.97 Turnover 105,201 P/E (x) 7.42 Company
High Low 929.68 894.09 Total cos Defaulter cos P/BV (x) ROE (%) 1.13 43.91
20B - 50.00 20B 10.00
Change -4.16 Market cap 278,386.83 mn Div Yield (%) 0.65
CONSTRUCTION AND MATERIALS Performance of SR Construction and Materials Index
90 100 60 20 150 10
Total Assets (Rs in mn)
8.02
MA (100-day)
Performance of SR Household Goods Index
2011 Div BR (%) (%)
- 10.00 - 15.00 20B -
66.45 159.00 15.00 106.05 1.46 172.12 21.00 3.05 3.75 9.52 224.00 60.00 18.80
2011 Div BR (%) (%)
63.20
MA (10-day)
HOUSEHOLD GOODS
Company
Change 35.83 Market cap 9,524.61 mn Div Yield (%) 10.23
Paid up Cap(mn)
Ansari Sugar Bawany Sugar Chashma Sugar XD Faran Sugar Habib Sugar Habib-ADM Ltd Haseeb Waqas Ismail Ind J D W Sugar Mehran Sugar XD Mirza Sugar Nestle Pakistan Noon Pakistan Noon Sugar Pangrio Sugar Quice Food Rafhan Maize S S Oil Wazir Ali
INDUSTRIAL METALS AND MINING Open 969.61 Turnover 163,520 P/E (x) 3.02
82.63 205.00 43.26 143.80 2.89 217.44 26.74 5.36 5.49 12.87 309.73 74.80 24.00
2010 Div BR (%) (%)
% Change 2.52 5-Day High 1,151.34 5-Day Low 1,102.93
RSI (14-day)
FOOD PRODUCERS
-
Performance of SR Industrial Metals and Mining Index
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis
Performance of SR Food Producers Index
2011 Div BR (%) (%) -
-
Performance of SR Automobile and Parts Index
Performance of SR Chemicals Index Open 1,568.62 Turnover 44,576,141 P/E (x) 9.04
-
2011 Div BR (%) (%)
AUTOMOBILE AND PARTS Open 1,102.93 Turnover 348,205 P/E (x) 3.87
Gulshan Spinning Mills Limited
% Change 2.87 5-Day High 702.67 5-Day Low 668.51
2010 Div BR (%) (%) 40 15
Alert ! Unusual Movements
78.59 83.50 68.00 24.50 7.16 30.75 126.00 58.50
2010 Div BR (%) (%) 50 100 30
% Change 0.99 5-Day High 985.85 5-Day Low 962.69 2011 Div BR (%) (%) -
-
% Change 2.61 5-Day High 854.86 5-Day Low 827.02 2011 Div BR (%) (%)
20B 12.50 15 -
-
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day) 1st Support 2nd Support 1st Resistance 2nd Resistance
39.99 6.10 7.08 6.93 5.65 5.25 6.40 6.75
Pivot
Total Assets (Rs in mn) Total Equity (Rs in mn) Revenue (Rs in mn) Interest Expense Profit after Taxation EPS 09 (Rs) Book value / share (Rs) PE 10 E (x)
6.00
95,310.27 7,803.20 9,337.28 6,602.78 145.35 0.290 15.55 -
PBV (x)
0.39
SNBL closed up 0.71 at 6.11. Volume was 150 per cent above average (trending) and Bollinger Bands were 42 per cent wider than normal. The company's loss after taxation stood at Rs17.60 million which translates into a Loss Per Share of Rs0.03 for the nine months of current calendar year (9MCY10). SNBL is currently 11.8 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 volume flowing into and out of SNBL at a relatively equal pace. Trend forecasting oscillators are currently bearish on SNBL.
Hira Textile Mills Limited
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day) MA (10-day)
50.26 3.74
Total Assets (Rs in mn) Total Equity (Rs in mn)
3,356.84 1,312.24
MA (100-day) MA (200-day) 1st Support 2nd Support 1st Resistance
4.01 3.86 3.70 3.55 4.00
Revenue (Rs in mn) Interest Expense Profit after Taxation EPS 10 (Rs) Book value / share (Rs)
3,116.91 263.53 248.83 3.478 18.34
2nd Resistance Pivot
4.15 3.85
PE 11 E (x) PBV (x)
0.72 0.21
HIRAT closed down -0.03 at 3.82. Volume was 137 per cent above average and Bollinger Bands were 25 per cent narrower than normal. The company's profit after taxation stood at Rs94.915 million which translates into an Earning Per Share of Rs1.33 for the 1st quarter of current fiscal year (1QFY11). HIRAT is currently 1.0 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of HIRAT at a relatively equal pace. Trend forecasting oscillators are currently bearish on HIRAT.
BOOK CLOSURES Company
From
To
Kohinoor Energy Pakistan State Oil Pakistan Petroleum Pakistan Petroleum (Pref) Central Insurance # Colgate - Palmolive # Picic Growth Fund Picic Invt Fund Picic Energy Fund Shabbir Tiles & Ceramics # Tariq Glass Bank Al-Habib Husein Industries # Crescent Steel Allied Bank Ltd Tri-Pack Films Kot Addu Power Shahtaj Sugar Mills # Biafo Industries Sazgar Engg Works Sazgar Engg Works # Atlas Honda # Fauji Fertiliser Bin Qasim
02-Mar 03-Mar 03-Mar 03-Mar 03-Mar 04-Mar 05-Mar 05-Mar 05-Mar 06-Mar 07-Mar 07-Mar 07-Mar 09-Mar 10-Mar 10-Mar 11-Mar 11-Mar 12-Mar 13-Mar 13-Mar 14-Mar 15-Mar
08-Mar 10-Mar 09-Mar 09-Mar 10-Mar 10-Mar 12-Mar 12-Mar 12-Mar 12-Mar 13-Mar 17-Mar 12-Mar 15-Mar 16-Mar 18-Mar 18-Mar 18-Mar 19-Mar 19-Mar 21-Mar 21-Mar
D/B/R
Spot AGM/Date
10(I) 22-02-2011 50(I) 23-02-2011 50(I) 23-02-2011 30(I) 12.50(I) 25-02-2011 7.5(I) 25-02-2011 10(I) 25-02-2011 200(R) 25-02-2011 20(F),20(B) 25-02-2011 10(I) 01-Mar 20(F),10(B) 02-Mar 100(F) 02-Mar 30(I) 03-Mar 15(II) 04-Mar 10(I) 04-Mar 35(F) 07-Mar
10-Mar 10-Mar 12-Mar 17-Mar 12-Mar 16-Mar 18-Mar 22-Mar 19-Mar 21-Mar 21-Mar
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols TRG Pakistan Ltd. Murree Brewery Co. Shezan International Pak Tobacco Shifa Int.Hospitals P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies Pak Telephone
Open 2.44 92.01 158.81 95.06 31.28 2.43 36.29 2.59 21.21 1.58
High 2.67 94.98 166 99.8 31.8 2.69 38.1 2.75 22.27 1.45
Low Close 2.48 90.1 156.5 93.3 31.01 2.43 36.5 2.59 21.25 1.4
2.65 93.32 158 99.45 31.01 2.5 37.63 2.7 22.27 1.4
Change 0.21 1.31 -0.81 4.39 -0.27 0.07 1.34 0.11 1.06 -0.18
Vol 1210674 7515 2639 8003 1033 87446 2706 364149 511336 5597
7
Wednesday, March 2, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,036.48 Turnover 3,171,831 P/E (x) 5.69 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,064.59 1,033.97 Total cos Defaulter cos P/BV (x) ROE (%) 0.73 12.84
PE
Open
High
Low
Close Chg
78 6.52 37740 11.97 3000 1.33 8606 6175 -
63.17 17.75 1.84 2.30 2.99
60.02 18.10 2.15 2.50 3.20
60.02 17.70 1.85 2.33 2.87
60.02 17.95 2.02 2.50 3.12
-3.15 0.20 0.18 0.20 0.13
Close 1,054.52 Listed cap 50,077.79 mn Payout (%) 62.56
Volume 33124 1477465 1015809 645433 79525
Change 18.04 Market cap 72,897.85 mn Div Yield (%) 11.00
% Change 1.74 5-Day High 1,084.20 5-Day Low 1,021.12
Last 60 days High Low
2010 Div BR (%) (%)
82.39 20.65 2.67 3.45 4.65
80 17.5 1 -
60.02 17.25 1.60 2.15 2.80
2011 Div BR (%) (%)
- 15.00 -
Atlas Insurance Central Insurance XB Century Insurance EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance Pak Gen Insurance PICIC Ins Ltd Premier Insurance Reliance Insurance XB Shaheen Insurance Silver Star Insurance
369 6.19 279 8.52 457 5.74 1250 400 2.97 718 8.49 791 10.54 3000 38.77 250 2.10 350 71.43 303 5.91 252 3.85 200 253 4.16
-
Paid up Cap(mn)
Company
Genertech Hub Power Japan Power KESC Kohinoor Energy XD Kot Addu Power Nishat Chunian Power Ltd Nishat Power Ltd Sitara Energy Ltd Southern Electric Tri-star Power XD
PE
198 11572 1560 7932 1695 8803 3673 3541 191 1367 150
7.07 6.99 5.61 3.02 2.38 5.30 -
Open
High
0.74 38.74 1.38 2.43 16.99 42.77 14.66 15.34 17.38 1.54 0.60
0.84 39.25 1.48 2.60 17.50 43.75 15.30 16.34 17.30 1.64 0.76
Low 0.65 37.70 1.36 2.47 16.00 42.75 14.50 15.25 16.80 1.48 0.63
Close Chg 0.65 -0.09 38.60 -0.14 1.46 0.08 2.57 0.14 16.07 -0.92 43.70 0.93 15.06 0.40 16.27 0.93 17.38 0.00 1.56 0.02 0.75 0.15
Close 1,311.68 Listed cap 95,369.29 mn Payout (%) 104.13
Change 7.75 Market cap 107,371.85 mn Div Yield (%) 7.53
Last 60 days High Low
Volume 22830 6797837 64096 1130268 2941 360572 2443350 2489192 201 255710 4071
1.18 41.20 2.10 3.55 22.85 45.85 18.01 18.70 19.35 2.80 1.49
0.56 35.90 1.25 2.30 16.00 39.51 14.05 14.85 16.40 1.41 0.55
% Change 0.59 5-Day High 1,311.68 5-Day Low 1,254.79
2010 Div BR (%) (%) 50 15 50 20 -
2011 Div BR (%) (%)
- 25.00 7.8R - 10.00 - 30.00 -
Open 687.68 Turnover 12,268 P/E (x) 5.26
Open 1,431.89 Turnover 1,185,516 P/E (x) 9.24 Paid up Cap(mn)
Company Sui North Gas Sui South Gas
High Low 1,451.76 1,407.70 Total cos Defaulter cos P/BV (x) ROE (%) 1.05 11.41
Close 1,419.37 Listed cap 12,202.80 mn Payout (%) 66.79
Change -12.52 Market cap 31,868.76 mn Div Yield (%) 7.23
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 11.65 8390 3.77
20.23 24.99
20.40 25.45
19.71 24.75
19.81 -0.42 25.02 0.03
558083 627433
29.39 27.90
19.71 19.95
% Change -0.87 5-Day High 1,451.59 5-Day Low 1,419.37
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
BANKS Performance of SR Banks Index Open 1,048.14 Turnover 38,430,548 P/E (x) 7.65 Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 6.29 64.12 Askari Bank 6427 6.76 13.20 Bank Alfalah 13492 12.45 9.14 Bank AL-HabibSPOT 7322 7.38 36.30 Bank Of Khyber 5004 5.53 4.14 Bank Of Punjab 5288 7.11 BankIslami Pak 5280 870.00 3.37 Faysal Bank 7327 3.81 10.89 Habib Bank Ltd 10019 7.63 119.20 Habib Metropolitan Bank 8732 7.59 23.75 JS Bank Ltd 8150 2.98 KASB Bank Ltd 9509 1.45 MCB Bank Ltd 7602 9.59 202.95 Meezan Bank 6983 7.63 17.59 Mybank Ltd 5304 2.14 National Bank 13455 6.25 68.19 NIB Bank 40437 2.38 Samba Bank 14335 1.66 Silkbank Ltd 26716 2.19 Soneri Bank 6023 29.10 5.40 Stand Chart Bank 38716 10.34 6.75 Summit Bank Ltd 7251 3.12 United Bank Ltd 12242 7.36 59.62
High
High Low Close 1,102.19 1,050.16 1,095.41 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.07 13.94 40.49 Low
Close Chg
67.00 64.10 66.65 2.53 14.20 13.25 14.20 1.00 9.90 9.08 9.71 0.57 36.95 36.00 36.31 0.01 4.20 4.15 4.15 0.01 7.60 7.10 7.44 0.33 3.55 3.36 3.48 0.11 11.89 11.00 11.80 0.91 124.00 120.00 122.15 2.95 24.93 24.00 24.83 1.08 3.05 2.80 3.04 0.06 1.64 1.50 1.60 0.15 213.09 203.50 212.80 9.85 18.20 17.55 18.00 0.41 2.21 2.11 2.20 0.06 71.59 68.30 71.59 3.40 2.63 2.42 2.60 0.22 1.93 1.66 1.70 0.04 2.35 2.16 2.26 0.07 6.35 5.60 6.11 0.71 6.90 6.50 6.72 -0.03 3.20 2.95 3.11 -0.01 62.60 59.75 62.60 2.98
Last 60 days High Low
Volume 613880 919413 2568565 1471665 28028 9261881 136558 282476 469476 76089 2331215 537760 1467909 161389 5844 14057204 1292630 28862 1139787 468873 75076 64283 1035968
Change 47.27 Market cap 665,138.45 mn Div Yield (%) 5.29
74.00 19.25 11.99 39.49 4.70 10.38 4.50 16.47 128.97 29.28 3.05 2.80 250.48 20.30 3.40 80.61 3.35 2.17 3.05 8.48 9.04 4.63 70.65
61.05 12.55 8.75 34.00 3.75 6.40 3.00 10.69 108.07 22.50 2.30 1.40 195.55 15.10 2.00 66.01 2.32 1.50 2.06 5.00 6.28 2.86 56.89
% Change 4.51 5-Day High 1,095.41 5-Day Low 1,025.52
2010 Div BR (%) (%)
2011 Div BR (%) (%)
40 10B - 10B 20 20B - 20B 65 10B - 66R 85 10B - 15B 75 25B -63.46R 50 -
-
-
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 700.09 Turnover 1,013,542 P/E (x) 11.78 Paid up Cap(mn)
Company Adamjee Insurance
PE
1237 22.34
Open 74.47
High 77.90
High Low 725.57 698.40 Total cos Defaulter cos P/BV (x) ROE (%) 0.61 5.20 Low 74.22
Close Chg 77.06 2.59
Close 717.97 Listed cap 11,111.34 mn Payout (%) 79.54
Volume 384511
Change 17.88 Market cap 45,742.16 mn Div Yield (%) 6.75
Last 60 days High Low 96.40
71.55
% Change 2.55 5-Day High 717.97 5-Day Low 689.92
2010 Div BR (%) (%) 10
2011 Div BR (%) (%)
-
-
-
38.92 75.00 9.19 33.87 12.49 98.81 60.00 15.12 8.88 10.00 10.94 6.27 10.32 6.70
1.29 1.01 -0.06 0.25 0.39 2.39 1.43 0.45 0.38 1.00 0.12 0.07 -0.23 0.30
6422 1300 13205 26864 12231 4969 5732 431151 1500 83870 4589 2000 1100 33998
40.00 83.00 11.99 46.89 15.50 102.44 61.80 19.40 9.95 10.75 12.93 7.15 14.20 8.20
35.47 58.11 8.90 32.72 11.72 86.10 56.00 13.80 6.10 6.01 10.10 6.20 9.41 6.01
10 30 35 -
10B 55B 25B -
-
UPTO 100 VOLUME
25R -
PE
Open
High Low 701.36 674.01 Total cos Defaulter cos P/BV (x) ROE (%) 3.02 3.85
High
Low
Close Chg
Close 694.07 Listed cap 2,290.72 mn Payout (%) 355.53
Change 6.39 Market cap 8,239.80 mn Div Yield (%) 4.53
Symbols
Last 60 days High Low
Volume
2010 Div BR (%) (%)
2011 Div BR (%) (%)
EFU Life Assurance
850 30.39
52.67
54.00
52.50
53.48 0.81
5100
86.40
51.31
-
-
-
-
627 19.23
45.00
45.00
43.01
44.99 -0.01
7146
49.31
39.05
15
-
-
-
FINANCIAL SERVICES Performance of SR Financial Services Index Open 336.70 Turnover 5,482,454 P/E (x) 11.51 Paid up Cap(mn)
High Low 353.71 332.76 Total cos Defaulter cos P/BV (x) ROE (%) 0.23 0.91
PE
Open
High
Low
225 1.34 360 3.74 450 15.70 3750 4.03 150 1.07 250 543.33 441 First Credit & Invest Bank Ltd 650 IGI Investment Bank 2121 9.23 Invest and Fin Sec 600 4.70 Invest Bank 2849 Ist Cap Securities 3166 Ist Dawood Bank 626 0.86 Jah Siddiq Co 7633 JOV and CO 508 795.00 JS Global Cap 500 6.46 JS Investment 1000 KASB Securities 1000 Orix Leasing 821 3.89 Pervez Ahmed Sec 775 4.25 Saudi Pak Leasing 452 Sec Inv Bank 514 12.60 Sigma Leasing 300 10.05 Stand Chart Leasing 978 3.08 Trust Brokerage 100 Trust Inv Bank 586 0.56
0.56 21.00 18.53 19.90 1.26 1.64 2.01 2.99 2.00 6.22 0.50 3.20 1.64 8.97 2.98 21.64 5.58 4.47 5.76 1.61 0.69 3.03 9.25 2.27 2.90 1.31
0.60 22.05 19.25 20.75 1.60 1.83 2.48 3.00 2.30 6.99 0.59 3.39 1.73 9.30 3.24 22.67 5.89 4.48 6.00 2.09 0.62 3.15 9.25 2.65 3.90 2.00
0.52 21.25 18.31 19.65 1.10 1.63 1.81 2.90 2.00 5.83 0.54 3.15 1.60 8.85 2.94 21.40 5.60 4.28 5.30 1.68 0.60 2.31 9.25 2.28 3.50 1.99
AMZ Ventures Arif Habib Investments Arif Habib Limited Arif Habib Corp Dawood Cap Mangt. XB Dawood Equities Escorts Bank
Close Chg 0.59 21.98 19.16 20.62 1.11 1.63 2.01 3.02 2.03 5.83 0.54 3.29 1.63 9.23 3.18 22.49 5.84 4.36 5.60 2.04 0.60 3.15 9.25 2.28 3.90 1.99
0.03 0.98 0.63 0.72 -0.15 -0.01 0.00 0.03 0.03 -0.39 0.04 0.09 -0.01 0.26 0.20 0.85 0.26 -0.11 -0.16 0.43 -0.09 0.12 0.00 0.01 1.00 0.68
Close 345.90 Listed cap 30,336.44 mn Payout (%) 99.56
Volume 7288 24585 75316 4238431 33503 502 165 577076 7584 9515 856 55076 9042 3660505 130632 3245 184910 1001 4517 1169239 4300 2501 101 2058 10976 84934
Change 9.20 Market cap 16,281.46 mn Div Yield (%) 3.94
Last 60 days High Low
2010 Div BR (%) (%)
0.95 24.85 28.00 30.20 2.10 2.75 3.80 4.00 3.90 8.98 1.09 3.95 2.14 13.39 4.49 31.50 7.40 5.43 7.19 2.50 0.97 4.99 11.00 3.00 4.40 2.00
30 11.5 10 -
0.33 16.80 18.31 18.75 1.10 1.06 1.55 2.15 2.00 5.65 0.31 2.95 1.05 8.01 2.58 20.80 5.10 3.75 5.25 1.21 0.41 2.26 9.25 1.67 1.42 0.61
% Change 2.73 5-Day High 355.48 5-Day Low 317.42 2011 Div BR (%) (%)
20B 20B 10B -
-
Open
CSIL FNEL SANSM TRSM DIIL ULEVER UPFL FECS STJT MOON TSMF DNCC GUTM ADMM SING ALICO MIRKS HMIM KTML BIFO MUBT COLG EMCO FZTM KOHP LATM MFFL NATF SHDT BROT GATI PECO FFLM HUSS MODAM PAKMI BUXL CLOV CWSM WYETH BAPL GRYL GVGL SFL ATFF CSUML EWLA FPJM HAJT HUSI KASBM PMI PMRS SHSML BAFS BILF CLCPS CRTM FDMF FTSM GRAYS JDMT JOPP KSTM LAKST MEHT SGML SHJS TICL
% Change 0.93 5-Day High 712.40 5-Day Low 673.47
New Jub Life Insurance
Company
Performance of SR Gas Water and Multiutilities Index
Paid up Cap(mn)
Company
-
GAS WATER AND MULTIUTILITIES
38.00 73.00 9.15 33.50 12.42 96.01 59.00 14.62 8.00 8.85 10.75 6.27 9.55 6.27
LIFE INSURANCE
ELECTRICITY High Low 1,331.35 1,278.82 Total cos Defaulter cos P/BV (x) ROE (%) 1.29 9.35
39.45 75.00 9.60 34.89 12.95 99.43 60.00 15.15 8.89 10.00 10.98 6.27 11.24 7.00
Performance of SR Life Insurance Index
Performance of SR Electricity Index Open 1,303.93 Turnover 13,571,078 P/E (x) 13.82
37.63 73.99 9.25 33.62 12.10 96.42 58.57 14.67 8.50 9.00 10.82 6.20 10.55 6.40
-
4.24 4.95 11.99 1.99 10.00 4658.20 1323.66 36.91 20.01 15.49 0.99 1.75 19.35 20.67 22.23 15.50 50.49 0.95 4.80 48.00 1.05 859.90 2.06 409.93 3.50 8.38 68.79 55.50 13.81 0.35 45.42 136.38 1.22 11.43 1.27 0.90 8.41 56.41 1.50 980.59 7.21 3.25 23.50 102.87 6.05 2.93 1.95 1.26 0.30 5.51 2.95 1.00 39.79 8.10 58.00 0.95 2.95 15.25 2.09 1.20 47.82 13.94 11.54 0.95 242.14 57.88 5.23 65.56 59.20
4.48 5.50 11.41 2.10 9.20 4881.99 1299.99 35.08 19.65 15.80 1.59 1.50 20.35 21.20 21.13 16.20 47.98 0.51 5.25 47.60 1.05 860.01 2.10 420.00 4.25 7.38 72.00 57.80 14.80 0.30 47.00 141.95 1.69 11.96 1.74 1.08 9.00 58.85 1.65 1025.00 7.74 3.50 22.33 108.00 6.97 3.40 2.15 1.43 0.74 6.39 2.05 1.05 41.77 8.90 59.00 1.47 2.97 16.00 2.06 2.20 49.45 14.94 10.75 0.88 253.00 55.05 5.70 68.00 56.50
Low
Close
4.25 5.40 11.41 2.10 9.00 4633.10 1257.48 35.08 19.65 14.49 1.40 1.50 20.35 20.10 21.13 14.51 47.97 0.50 4.11 45.60 0.25 860.01 2.10 389.45 4.00 7.38 72.00 57.80 14.80 0.13 47.00 129.71 1.69 11.96 1.74 1.08 7.52 58.85 0.77 932.19 7.74 2.25 22.33 108.00 6.96 2.60 2.00 1.42 0.32 6.39 2.05 1.05 39.00 8.89 59.00 1.47 2.97 16.00 2.06 2.20 49.45 14.53 10.75 0.88 253.00 55.05 5.70 68.00 56.50
4.24 4.95 11.99 1.99 10.00 4682.12 1257.48 36.91 20.01 15.49 0.99 1.75 19.35 20.67 22.23 15.50 50.49 0.95 4.80 48.00 1.05 859.90 2.06 409.93 3.50 8.38 68.79 55.50 13.81 0.35 45.42 136.38 1.22 11.43 1.27 0.90 8.41 56.41 1.50 980.59 7.21 3.25 23.50 102.87 6.05 2.93 1.95 1.26 0.30 5.51 2.95 1.00 39.79 8.10 58.00 0.95 2.95 15.25 2.09 1.20 47.82 14.53 11.54 0.95 242.14 57.88 5.23 65.56 59.20
Change
Vol
0.00 0.00 0.00 0.00 0.00 23.92 -66.18 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 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 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 0.00 0.00 0.00 0.00 0.00 0.00 0.59 0.00 0.00 0.00 0.00 0.00 0.00 0.00
100 100 100 100 90 72 64 52 50 33 26 25 24 22 21 20 20 19 19 11 11 10 10 10 10 10 10 10 10 7 6 6 5 5 5 5 4 4 4 4 3 3 3 3 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS
EQUITY INVESTMENT INSTRUMENTS
Symbols
Open
High
Low
Close
DGKC-MAR
22.74
23.64
23.00
23.51
0.77 4624500
Performance of SR Equity Investment Instruments Index
LUCK-MAR
61.83
63.20
61.50
63.05
1.22 1892500
NBP-MAR
Open 1,374.30 Turnover 1,743,752 P/E (x) 19.22 Company
High
Paid up Cap(mn)
AL-Meezan Mutual F. AL-Noor Modaraba B F Modaraba B R R Guardian Mod. Constellation Modaraba Crescent St Modaraba Elite Cap Modaraba Equity Modaraba Golden Arrow H B L Modaraba Habib Modaraba JS Growth Fund JS Value Fund Meezan Balanced F. NAMCO Balanced F. PICIC Energy F.SPOT PICIC Growth F.SPOT PICIC Inv FundSPOT Stand Chart Modaraba U D L Modaraba
PE
1375 210 75 780 65 200 113 524 760 397 1008 3180 1186 1200 1000 1000 2835 2841 454 264
3.96 1.89 1.23 1.58 1.65 1.43 3.35 1.02 1.45 3.54 6.03 2.23 1.21 2.49 1.94 3.40 4.04 3.39 4.85 2.48
Open 9.59 3.30 4.32 1.37 1.20 0.52 3.03 1.62 3.04 7.22 7.00 5.15 4.50 8.25 3.55 8.12 13.20 6.00 9.50 6.47
High Low 1,452.37 1,386.44 Total cos Defaulter cos P/BV (x) ROE (%) 0.42 2.21
High 9.99 3.25 4.32 1.47 1.47 0.70 2.94 1.93 3.22 7.23 7.15 5.80 5.19 8.70 4.20 8.30 13.57 6.45 9.80 6.90
Low
Close Chg
9.60 3.15 4.32 1.35 1.14 0.53 2.75 1.56 3.05 7.23 6.99 5.31 4.31 8.49 3.00 8.05 13.00 6.11 9.80 6.52
9.81 3.25 4.32 1.45 1.22 0.63 2.75 1.67 3.17 7.23 7.00 5.79 5.02 8.65 4.18 8.23 13.50 6.24 9.50 6.90
0.22 -0.05 0.00 0.08 0.02 0.11 -0.28 0.05 0.13 0.01 0.00 0.64 0.52 0.40 0.63 0.11 0.30 0.24 0.00 0.43
Close 1,425.58 Listed cap 29,771.58 mn Payout (%) 104.74
Change 51.28 Market cap 19,020.14 mn Div Yield (%) 8.47
Last 60 days High Low
Volume 66431 600 1000 2416 3434 4315 733 4450 14824 3000 8695 605501 118804 58179 1200 74820 595708 175664 125 3702
11.50 3.50 4.32 2.79 1.99 0.87 3.49 2.98 3.89 9.00 7.30 6.17 6.61 10.24 4.73 8.83 16.49 7.95 10.63 6.90
6.80 2.76 2.89 1.12 1.00 0.16 2.12 1.30 2.90 6.40 6.50 4.25 4.15 6.00 2.92 6.05 10.52 5.20 8.51 5.51
2010 Div BR (%) (%) 18.5 5 0 1.2 5 17 11 21 5 10 15.5 15 10 20 10 17 12.5
% Change 3.73 5-Day High 1,425.58 5-Day Low 1,363.90
- 5.00 10B - 10.00 - 12.50 - 7.50 - 7.50
-
Vol
68.58
72.00
68.80
71.60
ENGRO-MAR 173.87
179.90
172.95
178.89
POL-MAR
291.35
305.91
294.00
305.45
14.10
ANL-MAR
8.88
8.99
8.50
8.68
-0.20
924500
FFBL-MAR
37.39
38.60
37.30
38.41
1.02
600000
NML-MAR
2011 Div BR (%) (%)
Change
61.20
63.40
60.51
3.02 1188000 5.02 1031500 997500
63.04
1.84
571000
FFC-MAR
114.79
119.37
115.00
118.73
3.94
408500
MCB-MAR
183.07
192.22
183.51
191.99
8.92
226500
PPL-MAR
197.24
206.80
198.50
205.71
8.47
216500
PSO-MAR
275.58
285.00
279.60
284.01
8.43
171500
UBL-MAR
59.36
62.30
60.00
62.00
2.64
167500
BOP-MAR
7.16
7.60
7.15
7.50
0.34
104000
NCL-MAR
24.33
24.50
23.25
24.42
0.09
82500
OGDC-MAR 144.94
150.00
145.35
149.46
4.52
HUBC-MAR
39.24
38.90
37.31
38.67
-0.57
75000
AICL-MAR
74.93
78.00
74.90
77.92
2.99
50500
NETSOL-MAR 21.44
22.50
21.40
22.48
1.04
8000
PTC-MAR
18.18
18.15
18.15
0.55
5000
17.60
81500
ABL-CMAY
66.83
0.00
0.00
69.43
2.60
0.00
AICL-CAPR
76.63
0.00
0.00
79.25
2.62
0.00
AICL-CFEBW574.65
0.00
0.00
77.21
2.56
0.00
0.00
0.00
77.97
2.58
0.00
AICL-CMAR
75.39
ZERO VOLUME Symbols ILTM SASML UDPL
Low
Close
140.68
Open
147.71
147.71
147.71
7.03
8.45
High 8.40
8.40
8.40
Change -0.05
Vol 0.00
13.74
13.31
13.31
13.31
-0.42
0.00
0.00
BOARD MEETINGS
National Bank of Pakistan
KSE 100 INDEX
Fauji Fertiliser Bin Qasim Ltd
Hub Power Co Ltd
Company
Date
Time
Dandot Cement Co Ltd Silkbank Ltd Atlas Insurance Ltd Bank Alfalah Ltd Shell Pakistan Ltd Standard Chartered Bank The Bank Of Khyber Bank Alfalah Ltd Pak Suzuki Motor Co Ltd Karim Cotton Mills Ltd JS Bank Ltd Bankislami Pak Ltd AMZ Ventures Ltd Glaxosmithkline Pak Ltd
02-Mar 02-Mar 02-Mar 02-Mar 03-Mar 03-Mar 03-Mar 03-Mar 04-Mar 04-Mar 05-Mar 07-Mar 07-Mar 07-Mar
3:30 2:00 11:00 5:00 10:00 3:00 11:30 6:00 3:30 10:30 11:30 4:00 4:00 11:00
TECHNICAL LEVELS
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
39.56
Support 1
11,388.40
MA (5-day)
11,436.77
Support 2
11,168.35
MA (10-day)
11,697.91
Resistance 1
11,729.35
11,506.13
Resistance 2
11,850.20
MA (100-day)
Fair Value
Rs Recommendations
*Invest Cap
52.4
Sell
*Invest Cap
AKD Securities Ltd
75.5
Accumulate
AKD Securities Ltd
TFD Research
92.3
Positive
TFD Research
Technical Outlook
10,689.84
Pivot
Technical Analysis
Leverage Position
11,509.30
Brokerage House
Fair Value
*Invest Cap
210
Rs Recommendations
Brokerage House
Hold
*Invest Cap
Fair Value
Brokerage House
42.1
Accumulate
AKD Securities Ltd
45.52
Accumulate
50.3
Positive
TFD Research
44.25
Neutral
Technical Analysis
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
810.01 31,266.31 2.96 38.57
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
57.94 40.45 35.94 31.85
age (trending) and Bollinger Bands were 1 per cent wider than normal.
Bollinger Bands were 38 per cent narrower than normal.
HUBC is currently 9.6 per cent above its 200-day moving average and is FFBL is currently 29.8 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indica- to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of HUBC at a relatively equal pace. tors reflect volume flowing into and out of FFBL at a relatively equal pace. Trend forecasting oscillators are currently bearish on HUBC.
Trend forecasting oscillators are currently bearish on FFBL.
Bank Al-Falah Ltd
Brokerage House
Hold
*Invest Cap
Fair Value
Rs Recommendations
360
Brokerage House
Hold
*Invest Cap
120.7
Accumulate
AKD Securities Ltd
322.42
Accumulate
AKD Securities Ltd
TFD Research
245.4
Positive
TFD Research
139.5
Positive
TFD Research
381.35
Positive
TFD Research
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
147.48 31,617.10 86.19 211.63
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
32.94 129.42 124.16 115.39
466.49 55,283.42 52.18 116.82
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
47.61 301.26 285.70 255.11
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
Rs Recommendations
11.55
Hold
11.5
Buy
14.01
Positive
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
326.94 13,512.37 18.75 40.87
* Target price for Jun-11 & **Net Open Interest in future market
AKD Securities Ltd
53.31 212.65 194.48 187.25
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
HUBC closed down -0.14 at 38.60. Volume was 272 per cent above aver- FFBL closed up 1.00 at 41.33. Volume was 2 per cent below average and
Accumulate
Technical Analysis
Hold
Technical Outlook
Leverage Position
54.11 37.79 36.47 35.23
39
229.9
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Rs Recommendations
*Invest Cap
AKD Securities Ltd
Technical Outlook
Fair Value
Buy
Pakistan Oilfields Ltd
Rs Recommendations
149
Rs Recommendations
47
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Fauji Fertiliser Co
Engro Corporation
Fair Value
Technical Outlook
RSI (14-day) 44.25 Free Float Shares (mn) 318.50 MA (10-day) 71.23 Free Float Rs (mn) 22,801.26 KSE 100 INDEX closed up 319.20 points at 11,608.43. Volume was MA (100-day) 70.87 ** NOI Rs (mn) 92.35 21 per cent above average and Bollinger Bands were 77 per cent MA (200-day) 68.26 Mean 69.92 wider than normal. As far as resistance level is concern, the market * Target price for Jun-11 & **Net Open Interest in future market will see major 1st resistance level at 11,729.35 and 2nd resistance NBP closed up 3.40 at 71.59. Volume was 205 per cent above average level at 11,850.20, while Index will continue to find its 1st support (trending) and Bollinger Bands were 97 per cent wider than normal. level at 11,388.40 and 2nd support level at 11,168.35. KSE 100 INDEX is currently 8.6 per cent above its 200-day moving NBP is currently 4.9 per cent above its 200-day moving average and is disaverage and is displaying a downward trend. Volatility is extremely playing a downward trend. Volatility is extremely high when compared to high when compared to the average volatility over the last 10 trading the average volatility over the last 10 trading sessions. Volume indicators sessions. Volume indicators reflect moderate flows of volume out of INDEX (mildly bearish). Trend forecasting oscillators are currently reflect volume flowing into and out of NBP at a relatively equal pace. Trend forecasting oscillators are currently bearish on NBP. bearish on INDEX. MA (200-day)
Brokerage House
107.94 33,061.85 180.99 299.98
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
36.91 9.94 10.27 9.62
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
674.58 6,550.15 N/A 9.46
* Target price for Jun-11 & **Net Open Interest in future market
ENGRO closed up 5.87 at 214.38. Volume was 73 per cent above average FFC closed up 3.77 at 118.51. Volume was 95 per cent above average and POL closed up 13.91 at 306.29. Volume was 44 per cent above average BAFL closed up 0.57 at 9.71. Volume was 7 per cent below average and and Bollinger Bands were 15 per cent wider than normal.
Bollinger Bands were 289 per cent wider than normal.
and Bollinger Bands were 64 per cent wider than normal.
Bollinger Bands were 123 per cent wider than normal.
ENGRO is currently 14.6 per cent above its 200-day moving average and FFC is currently 2.7 per cent above its 200-day moving average and is dis- POL is currently 20.1 per cent above its 200-day moving average and is BAFL is currently 0.9 per cent above its 200-day moving average and is is displaying a downward trend. Volatility is extremely high when compared playing a downward trend. Volatility is extremely high when compared to displaying a downward trend. Volatility is extremely high when compared displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indica- the average volatility over the last 10 trading sessions. Volume indicators to the average volatility over the last 10 trading sessions. Volume indica- to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into ENGRO (mildly bullish). Trend reflect volume flowing into and out of FFC at a relatively equal pace. Trend tors reflect moderate flows of volume out of POL (mildly bearish). Trend tors reflect moderate flows of volume out of BAFL (mildly bearish). Trend forecasting oscillators are currently bearish on ENGRO.
forecasting oscillators are currently bearish on FFC.
forecasting oscillators are currently bearish on POL.
forecasting oscillators are currently bearish on BAFL.
Company Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Corp Arif Habib Limited Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D.G.K.Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J.O.V.and CO Japan Power JS Bank Ltd Jah Siddiq Co Kot Addu Power K.E.S.C Lotte Pakistan Lucky Cement MCB Bank Ltd Maple Leaf Cement National Bank Nishat (Chunian) Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat Mills Oil & Gas Dev. XD PACE (Pakistan) Ltd. Pervez Ahmed Sec P.I.A.C.(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki P.S.O. XD P.T.C.L.A Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele
RSI 1st 2nd (14-day) Support 35.24 2.40 2.25 45.46 64.85 63.00 31.13 49.30 47.65 33.08 19.95 19.25 23.11 18.55 17.95 34.06 74.90 72.70 36.41 13.55 12.95 33.83 8.40 8.20 46.11 346.25 337.25 39.52 106.20 103.80 37.11 9.20 8.75 43.44 3.35 3.25 40.69 7.15 6.90 45.10 1.65 1.45 33.34 22.95 22.30 45.02 2.50 2.35 36.11 1.90 1.70 24.43 33.30 32.70 25.49 52.65 51.85 53.34 209.35 204.30 32.15 11.25 10.65 29.07 4.05 3.95 57.96 40.60 39.85 33.19 116.00 113.50 51.55 120.10 118.05 53.85 37.80 36.95 61.05 149.50 144.50 19.12 225.30 216.65 40.61 3.00 2.80 43.86 1.40 1.30 66.65 2.85 2.70 44.21 8.95 8.70 56.26 43.05 42.40 43.12 2.50 2.40 52.19 14.90 14.30 34.55 61.80 60.25 45.80 206.50 200.20 29.35 2.15 2.05 44.27 69.40 67.20 48.41 23.55 22.60 46.55 21.60 20.90 45.88 2.45 2.35 57.64 2.40 2.25 48.24 61.10 59.50 27.29 146.10 142.75 42.50 2.60 2.50 56.11 1.80 1.55 47.88 2.40 2.30 31.00 5.45 5.40 47.62 298.05 289.75 54.16 204.80 199.15 50.64 63.15 61.25 53.57 282.90 279.00 39.94 17.75 17.50 43.01 198.55 196.25 18.09 19.55 19.30 46.95 12.65 12.30 55.71 24.70 24.35 49.56 1.85 1.70 34.04 2.55 2.40 47.23 60.70 58.80 46.93 2.40 2.25
1st 2nd Resistance 2.70 2.85 67.75 68.80 51.80 52.65 21.05 21.45 19.50 19.85 78.55 80.05 14.50 14.85 8.85 9.10 360.60 366.00 109.85 111.05 10.05 10.40 3.55 3.65 7.65 7.90 1.95 2.10 24.00 24.35 2.80 2.95 2.15 2.30 34.70 35.50 54.15 54.85 217.70 221.05 12.10 12.45 4.30 4.40 41.75 42.20 120.00 121.50 124.10 126.05 39.35 40.05 157.00 159.55 241.30 248.65 3.30 3.40 1.50 1.55 3.10 3.20 9.40 9.60 44.05 44.40 2.65 2.70 15.85 16.15 64.20 65.05 216.10 219.40 2.30 2.35 72.70 73.80 25.25 26.05 22.60 22.95 2.70 2.75 2.70 2.80 63.70 64.70 151.70 153.95 2.75 2.85 2.20 2.35 2.65 2.80 5.65 5.75 310.75 315.25 213.30 216.15 66.30 67.50 289.35 291.90 18.15 18.30 202.55 204.30 20.25 20.65 13.25 13.50 25.40 25.75 2.15 2.30 2.70 2.80 63.55 64.50 2.55 2.60
Pivot 2.55 65.90 50.15 20.35 18.90 76.40 13.90 8.65 351.65 107.40 9.55 3.45 7.40 1.80 23.30 2.65 2.00 34.10 53.35 212.65 11.55 4.15 41.05 117.50 122.05 38.50 152.00 232.65 3.10 1.45 2.95 9.15 43.40 2.55 15.20 62.65 209.80 2.20 70.50 24.30 21.95 2.55 2.55 62.10 148.35 2.70 1.95 2.55 5.55 302.50 207.65 64.40 285.45 17.90 200.30 19.95 12.90 25.05 2.00 2.60 61.65 2.45
8
Wednesday, March 2, 2010
HEC scholar returns with a wealth of knowledge
From Australia with excellence ISLAMABAD: Dr Mian Hafeez Ullah has completed his HEC funded PostDoctoral Fellowship at the Department of Agriculture and Food Western Australia (DAFWA) under the supervision of Dr Ravjit Khangura, a well-known Plant Pathologist for her research on the diseases of oilseed crops in Australia. Hafeez, who earned his PhD in Plant Pathology from the University of Agriculture, Faisalabad, has an experience of over 20 years as an agricultural officer in the Punjab Department of Agriculture, says a press release. Oilseed crops are produced on a limited scale in Pakistan, even insufficient to meet the domestic demands. The country faces an acute shortage of the vegetable oils and is reliant on the imports from other countries. Dr. Hafeez has specialized in the pathology of oilseed crops so that he
could contribute to developing solutions for this problem. He continued his research on the same line during his fellowship in Australia. During his Post-Doctoral research, he worked as a team member of the trans-disciplinary research group and learned several new techniques that he wishes to apply in his future career. "Western Australia (WA) was the right choice to gain hands-on-experience in dealing with the disease problems of canola such as blackleg and Sclerotinia stem rot. The farmers there are oriented towards the sustainable crop production systems in order to combat future challenges of climate change and recurring droughts. In broad terms, I learned a lot about the farming practices followed by canola growers in WA. Now I am looking forward to promoting GM-canola in Pakistan to meet the increasing demand of the fast growing population of
the country. It is my dream to replicate this model of problem-solving research in collaboration with the industry in Pakistan," said Dr Hafeez. He added, "All this was not possible without the generous funding from HEC. I strongly urge Higher Education Commission to continue this scheme of Post-Doctoral Fellowship for the future generation." Dr Hafeez has joined his parent organisation in Pakistan. He has developed a strong linkage with the academia and researchers of Australia during his one year stay in Perth. He wishes to exploit the peer-networking for the future research and extension programmes between Pakistan and Australia. He was also invited twice to the Community Radio of Perth, Western Australia, for his talks on the future scenarios of agriculture in Pakistan.-NNI
Simpson Scholarship winners by June 30
ACCA examinees up at all-time high TFD Report KARACHI: Results from the ACCA (Association of Chartered Certified Accountants) examinations in December reveal that a record 205,000 individuals sat papers, with more than 6,000 taking a major step towards membership of the global body for professional accountants. Candidates around the world took more than 397,000 papers, with 6,420 students successfully completing their final ACCA exams and a further 2,926 students completing the Certified Accounting Technician (CAT) exams, says a press release. Arif Masud Mirza, Head of ACCA Pakistan, said: "We are delighted to see students successfully completing their examinations and demonstrating those skills demanded by employers in these challenging times. ACCA is committed to developing professional accountants who can create value within business - and this is a good time
to be qualifying as an ACCA member. Recent research by ACCA shows that CEOs expect demand for finance specialists to rise, with more than 70% seeing a need for more specialised finance roles in the future. The skills at the top of the CEO's wishlists - financial analysis for business decision making; risk management/internal control and budgeting and financial forecasting - are all fundamental elements of the ACCA Qualification." "We congratulate the students who have now completed their ACCA exams and we look forward to welcoming them to ACCA membership on completion of their practical experience requirements and professional ethics module. We would also like to congratulate those who completed the CAT exams," he added. Meanwhile ACCA has announced that Simpson Scholarship winners will be announced by June 30, 2011, said a press release. This scholarship rewards talented ACCA students who
Vow to better all Baharia colleges RAWALPINDI: Baharia Foundation Colleges are playing an important role for the promotion of quality education to the students and these institutions will be transformed into centers for excellence in the country. This was stated by Managing Director (MD) Baharia Foundation, Vice Admiral (Retd) Mahmood Ahmad Khan while addressing the participants of Science and Arts exhibition, poster competition and annual prize distribution ceremony of Baharia Foundation College Satellite Town here at Rawalpindi Art Council. Principal of the College Syeda Arifa Mohsin, teachers, students and parents attended the function. Vice Admiral (Retd) Mahmood Ahmed Khan said that BF was committed to providing state of the art educational facilities to the students in order to produce talented and useful students by imparting quality education for the
socio-economic prosperity of the country. He appreciated the innovative ideas and themes like conservation of water, environmental protection and art models displayed by the students of the institution during the science and arts exhibition. He also lauded the efforts of the principal and teachers of the institution for providing quality and knowledge based education to the students. Managing Director Baharia Foundation, earlier visited Science and Arts exhibition and poster competition exhibited by the students of Baharia Foundation College and took keen interest in them. Later, he distributed prizes and shields among the outstanding students. He also awarded shields to the teachers for their excellent performance in promoting quality education and producing excellent results in various examinations and competitions.-PR
prove sufficient merit and distinction in the ACCA exams. This scholarship will fund the exam and registration fees of five students for a period of five years or until they become members- whichever happens first. Miss Muriel Simpson FCCA died on 22 December 1977 and, in her Will, left her residuary estate to ACCA to fund a scholarship to be called the 'Simpson Scholarship'. As an added bonus, ACCA's official publisher -BPP Learning Media - have agreed to provide the Scholarship winners with a set of learning materials for each ACCA paper they are studying. In order to be eligible for the scholarship, students must have completed the Knowledge module of the Fundamentals Level and meet other eligibility criteria. They are also required to submit a 1,000 word essay. Students will have until 30 April 2011 to submit their Scholarship applications. -Agencies
Hoti orders Dir schools upgradation DIR Lower: Chief Minister Khyber Pakhtunkhwa Ameer Haidar Khan Hoti has issued directives for provision of staff to Government schools in Dir Upper District. The CM directs for provision of staff to High School Hayagai Dog Dara Upper Dir. He also announced upgradation of Government Primary School Kelat and Government Primary School Shatbala Upper Dir to middle level and establishment of community health centers in two villages of Dog Dara district Upper Dir. The chief minister directed concerned departments for ensuring implementation of his directives regarding these people welfare projects. The provision of staff to high school, upgradation of other mentioned schools and establishment of community health centers will not only benefit children of Dog Dara Upper Dir with availability of education facilities at their doorstep but will also ensure availability of treatment facilities to people of the area.-APP
HYDERABAD: Chairman Karachi Education Board Anwar Ahmed and Abdul Qadir Mangi give away shield and cash prize to position holder student of Intermediate from Hyderabad Board during prize distribution ceremony.-Online
AKHSS merit citation event held KARACHI: A Merit Citation Ceremony for the graduating class of 2010 was organised by the Aga Khan Higher Secondary School, Karachi (AKHSSK), which is a unit of the Aga Khan Education Service, Pakistan (AKESP). Dr Ishrat Husain, Dean and Director of the Institute of Business Administration (IBA), was the chief guest at the event. A large gathering of officials from the Board of Intermediate Education, Karachi (BIEK), the Aga Khan UniversityExamination Board (AKU-EB) and AKESP along with the graduating students and their parents attended the ceremony. The guests were welcomed by Shahina Ali Raza, Principal of AKHSSK who shared a detailed report on the school initiatives and achievements. Dr Sadrudin Pardhan, Head of Operations AKESP, highlighted the importance laid down by Aga Khan Schools on instilling ethical values in students, in addition to providing them with a strong academic foundation for higher education. He said, "In a country like ours where people belong to a multitude of backgrounds, respecting pluralism and making the most of it is very important. Therefore, education of ethics and pluralism form a formal part of the AKES system's curricula." Dr Ishrat Husain appreciated the achievements of the students, not only in the board examinations, but also their excellence in sports and accomplishments in various science and technology exhibitions nationally and internationally. Awards were then distributed amongst students who had been high achievers in the field of Academics, Co-curricular Activities and Sports. -PR
Scientist shines Pakistan's name ISLAMABAD: Higher Education Commission (HEC) scholar Qaiser Hussain, has won the Excellent Research Award (2010-11) and a cash prize for evaluation of microbial mechanism controlling the greenhouse gases. He was awarded at annual report meeting of Low-Carbon Agriculture and Climate Change Research, held in Nanjing, China. Qaiser is pursuing PhD studies in Soil Environmental Microbiology at Institute of Resources, Ecosystem and Environment, Nanjing Agricultural University, China, said a press release issued here. Hussain is studying under HEC Overseas Scholarship for MS/MPhil leading to PhD in Selected Fields (Phase-II). His research findings regarding screening of high-yielding rice variety in terms of microbial control could be economically feasible, environmentally
sound and promising strategy to mitigate N2O and CH4 emissions from the rice fields in Asian countries. It is worth mentioning that Hussain has been offered a travel grant by his Institute to present this research work at any international scientific forum in the world. "This award has really boosted my confidence and I will utilise my knowledge and skills in the best interest of my beloved country. I am thankful to my supervisor, my family and friends for their encouragement and motivation. It would not be possible to achieve this success without the constant support of HEC", said Hussain. After completion of PhD, he intends to join academia in the field of Environmental Microbiology and Biotechnology to train more manpower in the same field and to produce quality education and research.-APP
KARACHI: Students of Dawood Public School's Alevel section who are registered on the FESF (Family Education Services Foundation), MOVE programme took their first step by organising a bake-sale to collect funds for disabled and underprivileged children under the care of Family Education Services Foundation (FESF). Students setup different kind of stalls at the school premises to generate funds for the noble cause. A-level students will make gift packs for the special children from the collected amount and handover to FESF. A DPS official said that our students would continue to support Family Education Services Foundation as a part of our policy to help the organisations working for the underprivileged segments of the society in order to create social balance and a vibrant society. Family Education Services Foundation is a non-profit, educational organisation established in Pakistan in 1984. Its mission is to enhance the quality of life for all members of the community, especially those who are disadvantaged.
SZABIST adds to flora
ISLAMABAD: Chancellor Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology (SZABIST), Dr Azra Fazal Pechuho planted a sapling to inaugurate the spring tree plantation campaign here. Addressing the students, Dr Azra said that this is responsibility of every citizen to contribute his share in plantation to make environment healthy and clean. Dr Azra said that trees protect us from scorching heat in summer and give us fruits and fuel. She added that trees in forests draw the rain from the clouds floating in the sky and check the quick flow of rain-water and thereby, reduce chance of high flood in our rivers. On the other hand, she added, this slow process of water-flow provide good water throughout said that all students of the university from all over the the year through streams and streamlets.-APP country can participate. He said the participants should attempt only in one language either in Urdu or English language with a total of maximum 1500 words and advised the students to submit two copies of essay one a hard copy typed on A4 size paper with 12 font size, Times New Roman style spacing of 1.0 KARACHI: The Board of while the other through email Secondary Education Karachi on zianaqvi@aiou.edu.pk.(BSEK) will conduct a mock APP examination in the third week of March. A decision to this effect was taken at a high-level meeting on the examinations system at the Governor House here. Governor Sindh Dr Ishrat-ulEbad Khan, who is the controlling authority of the education boards in the province, presided over the meeting. An official said that this stories and how they tackled different scenarios in their would be a one-day exercise for the 9th class and was aimed respective businesses. Speaking on the exclusive at making the examination syspartnership with IBA tem effective, simple and Entrepreneurship Society transparent. A committee, consisting of (IBAES), Ghalib Nishtar, President of Khushhalibank, the principal secretary to the stated, "It's important to governor, Mumtaz ur Rehman, encourage the entrepreneurial Chairman BIEK Prof Anwar spirit in the next generation of Ahmed Zai, Chairman Sindh Board Saeed business leaders of our coun- Technical try and IBA Verve 2011 is an Siddiqui, and Chairman BSEK, Anzar Hussain Zaidi, presented ideal platform to promote them". He further stated, "We its report on the occasion. The meeting decided to at Khushhalibank are delighted to be partners in this reduce the number of examinaimportant summit as these tion centres for the 9th and 10th young business students hold class annual examinations of the key to a stable Pakistan. the BSEK from 436 to 170. The As is evident, there is one number of invigilators would common thread that binds the be based on the average of the established and aspiring candidates rather than the entrepreneurs together, and examination centres. The govthat is the desire to make a ernor said that in view of the difference and the commit- success of the experiment, it ment to excel and build should be replicated and expanded province-wide.-APP world-class organisations."
AIOU up to test pupil penpower ISLAMABAD: Allama Iqbal Open University (AIOU) has announced an essay writing competition on the topic 'Pakistan-China Friendship: Past, Present and Future' and last date for submission is March 5. The contest is being arranged as Ministry of Education has declared the year 2011 as friendship year of Pakistan and China. Director, Students Advisory and Counseling Services AIOU, Zia-ul-Husnain Naqvi
Khushhalibank in on ‘IBAVerve 2011’ KARACHI: According to a handout issued here Khushhalibank sponsored the IBA Verve 2011 which recently took place at a local hotel in Karachi. The intent of the IBA Verve 2011 was to acknowledge the contributions being made by young entrepreneurs in various sectors which prove to be vital building blocks for a successful economy. Acknowledging the contributions of the entrepreneurs, Khushhalibank the premier microfinance institution of the country, was the exclusive partner for IBA Verve 2011. Organised annually by IBA Entrepreneurship Society (IBAES) and Center for E n t r e p r e n e u r i a l Development, this annual summit was attended by young aspiring entrepreneurs, students and renowned businesspersons from across the
A-levelers at DPS do a lot good to the needy
country. IBA Verve 2011 provides a networking platform to young entrepreneurs to connect and have a rapport with influential business leaders from across the country. The story telling sessions were highly motivational and gave the young entrepreneurs insight into the mechanics of setting up successful businesses and the ups and downs of operating different ventures. Prominent and established persons from the business sector like Arif Habib (Chairman & Chief Executive, Arif Habib Corporation Limited), Iqbal Ebrahim (CEO, Orient textile Mills & formerly associated with Al-Karam Textile Mills), Sheikh M Ghayassudin (Chairman, Shahi Group) and many other prominent and successful business leaders shared their personal success
BSEK to essay an all new exam system
9
Wednesday, March 2, 2011
Brent climbs above $113; nerves jangle on supplies
European vegetable oil prices
World Bank says strong oil prices will not derail recovery
ROTTERDAM: The following were the Tuesday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Mar11 986.00+26.00, Apr11/Jun11 990.00, Jul11/Sep11 998.00. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1020.00+5.00, Aug11/Oct11 980.00+5.00, Nov11/Jan12 988.00+5.00, Feb12/Apr12 995.00+5.00. SUNOIL: EU dlrs tonne extank six ports option Apr11/Jun11 1415.00+5.00, Jul11/Sep11 1425.00+10.00, Oct11/Dec11 1380.00-10.00. LINOIL: Any origin dlrs tonne extank Rotterdam Mar11/Apr11 1555.00+2.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Feb11 1220.00+15.00, Mar11 1220.00+15.00, Apr11/Jun11 1215.00+17.50, Jul11/Sep11 1190.00+17.50, Oct11/Dec11 1180.00. PALMOIL: RBD dlrs tonne cif Rotterdam Mar11 1277.50, Apr11/Jun11 1265.00. PALMOIL: RBD dlrs tonne fob Malaysia Mar11 1222.50+12.50, Apr11/Jun11 1210.00+22.50. PALM OLEIN: RBD dlrs tonne fob Malaysia Mar11 1230.00+12.50, Apr11/Jun11 1217.50+22.50, Jul11/Sep11 1170.00+17.50, Oct11/Dec11 1157.50+17.50. PALM STEARIN: Dlrs tonne fob Malaysia Mar11 1200.00+10.00, Apr11 1200.00+15.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Feb11/Mar11 2115.00-45.00, Mar11/Apr11 2090.00-40.00, Apr11/May11 2080.00-40.00. Reuters
LONDON: Brent crude oil futures rose above $113 a barrel on Tuesday as a jittery market jumped higher on a report, soon denied, of Saudi involvement in Bahrain. A Saudi Arabian official quickly dismissed a report in an Egyptian newspaper that the kingdom had sent tanks to neighbour Bahrain to try to quell protests there. April Brent futures were up $1.99 at $113.79 a barrel by 1517 GMT, paring gains slightly after rising to intra-day highs of $114.35 a barrel earlier in the session. US crude futures were up $1.35 cents at $98.32 a barrel, after touching earlier intraday highs of $98.77. Worries about the unrest in the region drove Saudi Arabia's benchmark stock index to 20-month lows. "The same political risk is driving prices -- what is happening in Libya now and,
according to the news on my screen, there are problems in Iran. Those are two very big suppliers and we can't take disruption from both, so there is the spike in prices," Credit Agricole CIB analyst Christophe Barret said. "The biggest OPEC producer is likely to be already producing more than 9 million
barrels of crude oil a day at present," Commerzbank analysts said in a note. "Saudi Arabia's spare capacities are thus another good 3 million barrels a day. The market is likely to get nervous, at the latest, when spare capacities drop below 2 million barrels a day." OPEC, and in particular Saudi Arabia's, spare output capacity has become a vital cushion of potential supply
disruption. In Oman, a small oil producer, the army fired in the air, wounding one person, as it moved to disperse protesters near the northern port of Sohar. Investors awaited the latest US weekly crude inventories data from industry group American Petroleum Institute at 1630 GMT. Economists polled by Reuters expect an increase in stockpiles for a seventh consecutive week on higher imports. F e d e r a l Reserve Chairman Ben Bernanke on Tuesday downplayed the effect of high oil prices on the US economy but said it could lead to weaker growth and higher inflation if sustained. In China, manufacturing growth slowed in February to a six-month low, according to an official survey, as the government's sustained campaign to tame inflation weighed on industrial activity. -Reuters
Indian sugar flat on subdued demand GAUHATI - INDIA: An Indian man sprays water at a paddy field in Panikhaitee, about 25 kilometers (15 miles) east of Gauhati, India. -Agencies
Palm oil jumps as biodiesel appeal grows KUALA LUMPUR: Malaysian palm oil futures jumped as much as 2.6 per cent on Tuesday as traders focused on buoyant crude markets setting the stage for growing biodiesel demand. Although palm oil is less likely to be channelled into biofuels due to lack of government subsidies, aggressive mandates in Brazil and the United States may see more soyoil taken up, which leaves palm oil to dominate the food sector.
"Funds might be coming in. There is a lot of energy related buying going on in palm oil and other vegetable oil markets," said a trader with a foreign commodities brokerage. The benchmark May crude palm oil contract on Bursa Malaysia Derivatives rose as much as 90 ringgit to 3,562 ringgit ($1,167.677) before settling at 3,546 ringgit. Overall volumes shot up to 24,896 lots at 25 tonnes each from the usual 15,000 lots traded. Reuters technical analyst
Wang Tao said palm oil is expected to develop a second rebound towards 3,702 ringgit per tonne based on its wave pattern. Other vegetable oil markets were mixed. US soyoil for March delivery extended losses during Asian hours as the outlook for bumper production in South America continues to pressure prices. But the most active September soyoil contract on China's Dalian Commodity Exchange edged higher. -Reuters
US cotton limits up; investor interest sinks NEW YORK: US cotton futures finished Monday up the daily limit on speculative and trade buying as the market stayed within sight of record highs, even though open interest slid to its lowest level in seven months. The key May cotton contract on ICE Futures US rose the 7.00-cent limit to finish at $1.9123 per lb, with the day's low at $1.8721. Last week the contract hit a record top of $2.1176 per lb. The cotton market rose nearly 40 per cent on the month, posting its sixth monthly gain in the last seven months. But open interest in the market tumbled to a seven-month low of 174,935 lots, data from ICE
Futures US showed. Volume traded Monday though stood about 9,500 lots, some two-thirds below the 30day norm, Thomson Reuters preliminary data showed. Keith Brown, president of commodity firm Keith Brown and Co in Moultrie, Georgia, said the open interest news should be seen as bullish because it meant the market has washed out investors who had ridden the bullish wave in fiber contracts.
Traders said stronger Chinese cotton prices also boosted the market. China's benchmark Zhengzhou cotton futures were last done at the day's top of 32,435 yuan per tonne, up 2,125 yuan on the day. Dong Shuangwei, an analyst with Beijing Capital Futures, said supplies are 'tight' but he believes short-term fund buying is responsible for the strength in cotton prices. Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for February 28 2011 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1310
1255
January (3rd Wednesday)
1310
1260
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for February 28 2011
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY
Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller
2335 2345 2325 2335 2365 2375 2365 2375
2531 2531.5 2559 2560 2625 2630 2665 2670
9857 9857.5 9840 9845 9760 9770 9415 9425
2533 2535 2526 2528 2472 2477 2425 2430
28830 28840 28755 28760 27650 27750 26385 26485
TIN
ZINC NASAAC
32260 2477 32265 2477.5 32200 2503.5 32250 2504 32000 2542 32050 2547 2543 2548
2501 2502 2525 2530 2485 2495 2430 2440
MUMBAI: Indian spot sugar prices were stable on Tuesday on subdued demand and higherthan-expected non-levy sugar quota for the current month. India has made available 1.684 million tonnes of non-levy sugar for March, including 350,000 tonnes of unsold stocks from February, the government said in a statement on Feb. 25. "There is not enough demand to push the prices and until the government makes any announcement on allowing exports, there will not be much movement in sugar prices," said a dealer based in Vashi spot market near Mumbai. In Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety was almost steady at 2,694 rupees ($59.8) per 100 kg. Sugar contract for March delivery on India's National Commodity and Derivatives Exchange (NCDEX) ended down 0.28 per cent at 2,801 rupees per 100 kg. A decision by India on whether to allow 500,000 tonnes of unrestricted sugar exports could take another three weeks as the government has decided to broaden consultations to key ministries, government sources said on Feb. 22. -Reuters
Copper slips from 2-wk high as risk sentiment sours LONDON: Copper retreated from two-week highs on Tuesday as worries over Middle East unrest boosted oil prices and ignited inflation concerns, which encouraged investors to sell risky assets such as base metals. Copper closed ring trading at $9,860 a tonne, down from a close of $9,885 on Monday. The metal used in power and construction earlier reached a two-week high at $9,942 a tonne, nearing record peaks of $10,190 a tonne from Feb. 15. Aluminium fell back from 21/2 year highs, while worries over supplies from the Middle East cushioned prices. Mixed US data may have spurred copper's fall, but that was not the dominant factor, said RBS analyst Daniel Major. "The sell-off is more affiliated with the further tensions that we're seeing on Libya and how that's progressing, which is having a negative impact on risk sensitive commodities like base metals," he said. The US manufacturing sector grew at its fastest rate since May 2004 in February, although construction spending fell more than expected in January to its lowest level in five months. The mixed figures did little to alleviate overall concern about growth. Federal Reserve ChairmanBen Bernanke said on Tuesday the recent surge in
oil prices is unlikely to have a big impact on the US economy but could dampen growth and raise inflation if sustained. Analysts say falling ore grades, lack of investment by mining companies in new
Shanghai copper falls Three-month copper on the London Metal Exchange fell $67 to $9,818 a tonne by 0700 GMT. Shanghai's most active copper contract lost 0.4 per cent to 74,000 yuan. deposits and strong demand mean the copper market could see a deficit this year. The copper market is watching avidly stocks in LME warehouses for signs of Chinese buying, which many investors expect will propel copper to new records. In LME inventory data, copper stocks fell by 725 tonnes to 420,275 tonnes. Three-month aluminium finished at $2,610 a tonne, up from $2,600 on Monday. It earlier hit $2,617.25 a tonne, its highest since September 2008 on fears of supply problems in the Middle East and North Africa. Zinc finished at $2,515 a tonne from $2,520. Lead ended at $2,555 from $2,562, while tin fell to $32,200 from $32,320. Nickel closed at $28,775 a tonne from $28,990 on Monday. -Reuters
Gold at 3-mth highs as MEast violence worsens LONDON: Gold hit three-month highs on Tuesday as escalating violence in Libya and unrest spreading across the Middle East boosted the metal's appeal as a safe-haven from risk, while silver hit fresh 31-year peaks. Gold has rallied strongly since uprisings in Tunisia and Egypt unleashed a swathe of popular protests across the region, sending oil prices to 2-1/2-year highs and raising investors' concern about potential impacts of high
energy prices on growth. Tensions in the region worsened as Libyan leader Muammar Gaddafi despatched forces to a western border area in defiance of Western military and economic pressure. Spot gold rose to a session peak at $1,423.65 an ounce -- its highest since Dec. 7 when it hit a record high of $1,430.95. The metal was up 0.8 per cent at $1,421.95 an ounce by 1533 GMT from $1,410.85 late in New York on Monday. Bernanke's comments took some steam out of gold by supporting the dollar, which was flat after earlier trading lower, as a stronger US currency deters nonUS investors. US April gold futures were up
0.9 per cent at $1,422.7. Bullion rose 6 per cent in February, its largest monthly rise since August, when the US Federal Reserve first indicated economic growth was feeble enough to warrant a resumption in purchases of government bonds. In a reflection of investor ambiguity on gold, holdings of the metal dropped in the SPDR Gold Trust, the world's largest goldback exchange-traded fund.
Holdings fell for a fifth consecutive month in February, marking their worst string of declines since the creation of the fund in 2004. The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) said gold prices could drop 20 per cent later this year and in 2012 as the global economy picks up and speculators exit the market. Silver hit fresh 31-year highs at $34.47 an ounce, later trading at $34.31. Silver has risen about 11 per cent this year, shrugging off the prospect of rising supply as industrial demand improves. Platinum was up 1.1 per cent at $1,825.5 an ounce, while palladium was up 1.4 per cent at $805.58 an ounce. -Reuters
EU wheat edges down in thin trade ROTTERDAM: European wheat prices edge lower in thin trade after high volatility and a sharp drop the previous week led some cooperatives to panic selling, traders said. "The market continues to tend its wounds," a futures trader said. "Some uncertainty remains, notably on fears of an expansion of the uprising in the Middle East and its potential consequences on the world economy." By 1658 GMT benchmark May on Euronext milling wheat futures were down 1.00 euro or 0.4 per cent at 248.00 euros a tonne. Last Tuesday the contract had lost 14.5 euros in one day, and the next day it dropped as low as 226.50 euros -- a fall of more than 14 euros again -- before paring losses. Over the whole week the contract lost 6.75 euros a tonne. Traders had linked these wide swings to a pullout of financial operators of commodities markets as the Libyan crisis worsened. Traders anticipated more trade activity later in the week after a European Central Bank meeting on Thursday, which could affect exchange rates and stock markets. Activity is also thin on the French cash market. Traders note a drop in feed wheat imports due to a fall in local grain prices. Euronext rapeseed futures are firm on technical elements with front-month May up 0.7 per cent at 459.50 euros a tonne. Traders put the resistance at 464-465 euros. Spanish wheat prices post mild declines to line up with deep losses in Paris last week, but traders say physical volumes wafer-thin as the market awaits direction. Prompt feed wheat in leading grains port Tarragona, a benchmark in import-dependent Spain, was down 2 euros from a week ago at 248-250 euros/tonne. "Trading activity has returned to minimal levels with so much confusion. The million-dollar question is: Are we seeing a change to a downward trend in prices, or is this just a temporary correction?" said a report from the Mercolleida agricultural exchange. "It may be more a case of the latter than the former, but in any case, the market may have peaked." -Reuters
Tokyo rubber up 2.3pc on firmer oil BANGKOK: Tokyo rubber futures rose 2.3 per cent to near a one-week high on Tuesday on strong oil prices and a recovery stock markets, but concerns of unrest in Libya added downward pressure, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for August delivery rose 10.7 yen to settle at 477.1 yen ($5.84) per kg. It rose as high as 484.1 yen per kg, the highest since Feb 24. The most active Shanghai rubber contract for May delivery also rose 50 yuan to settle at 39,365 yuan ($5,990) per tonne. TOCOM rubber were expected to rise further to test the next resistance of 480 yen per kg on Wednesday after prices finished above a key psychological support level of 475 yen per kg, dealers said. -Reuters
National Commodity Exchange Ltd Trading Summary Date
1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011 1-Mar-2011
Commodity
CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD KILOGOLD KILOGOLD TOLAGOLD50 TOLAGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD IRRI6W RICEIRRI - 6 RBD PALMOLEIN KIBOR3M KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
MA11 AP11 MY11 AP11 MY11 AP11 MY11 JU11 AP11 MY11 JU11 MA11 AP11 MY11 MA11 AP11 MA11 MA11 MON TUE WED THU FRI MON TUE WED THU FRI 03MA11 MA11 MA11 11-Mar 11-Jun
US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
97.55 98.90 100.05 33.75 33.55 1415.60 1416.50 1417.00 1414.00 1414.00 1413.10 38780.00 39010.00 39050.00 39018.00 39007.00 45483.00 45483.00 40123.00 40065.00 40080.00 40094.00 40109.00 46665.00 46067.00 46554.00 46750.00 46117.00 3329.00 3343.00 5228.00 86.25 85.75
98.20 99.62 100.44 34.43 34.45 1423.30 1424.00 1424.70 1423.40 1423.60 1423.60 39251.00 39212.00 39227.00 39173.00 39184.00 45690.00 45690.00 40288.00 40332.00 40245.00 40259.00 40274.00 46665.00 46377.00 46775.00 46750.00 46310.00 3329.00 3343.00 5252.00 86.25 85.78
96.50 98.40 100.05 30.50 33.50 1405.20 1406.00 1406.80 1408.90 1409.50 38780.00 39010.00 39050.00 38995.00 39007.00 45483.00 45483.00 40123.00 40065.00 40080.00 40094.00 40109.00 46133.00 46067.00 46084.00 46100.00 46117.00 3327.00 3342.00 5228.00 86.25 85.75
97.82 99.58 100.44 34.43 34.45 1422.90 1423.60 1424.30 1422.90 1423.60 1423.60 39200.00 39212.00 39227.00 39173.00 39184.00 45690.00 45690.00 40288.00 40332.00 40245.00 40259.00 40274.00 46327.00 46377.00 46277.00 46293.00 46310.00 3327.00 3342.00 5252.00 86.25 85.78
Traded Volume in lots 456 33 4 99 2,780 1,877 1,202 18 14 9 4 2 1 2 1 -
Previous Settlement Price 96.93 98.60 99.40 33.88 33.93 1412.50 1413.20 1414.00 1412.50 1413.20 1414.00 38934.00 38946.00 38961.00 38907.00 38918.00 45380.00 45380.00 40019.00 40063.00 39976.00 39991.00 40005.00 46013.00 46062.00 45963.00 45980.00 45996.00 3329.00 3343.00 5228.00 86.25 85.75
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 97.82 113 99.58 11 100.44 34.43 34.45 24 1422.90 1,167 1423.60 1,378 1424.30 476 1422.90 1423.60 1424.30 4 39200.00 2 39212.00 81 39227.00 39173.00 39184.00 45690.00 45690.00 40288.00 40332.00 40245.00 40259.00 40274.00 46327.00 12 46377.00 46277.00 2 46293.00 1 46310.00 1 3327.00 3342.00 5252.00 86.25 85.78 -
Belgium's Davis Cup team Steve Darcis, Ruben Bemelmans address a news conference in Charleroi
10
Wednesday, March 2, 2011
Wozniacki holds top ranking PARIS: Denmark's Caroline Wozniacki remained on top of the latest WTA ranking released on Monday as the leading ten all held their spots. Russia's Vera Zvonareva remains third but opened up a comfortable cushion on the pursuing pack thanks to her defeat of Wozniacki in the Doha final. Nadia Petrova returns to the top 20 at the expense of her fellow Russian, Alisa Kleybanova. 1. Caroline Wozniacki (DEN) 9550 points 2. Kim Clijsters (BEL) 8835 3. Vera Zvonareva (RUS) 7565 4. Samantha Stosur (AUS) 5086 5. Francesca Schiavone (ITA) 5051 6. Jelena Jankovic (SRB) 4825 7. Li Na (CHN) 4300 8. Venus Williams (USA) 3465 9. Victoria Azarenka (BLR) 3440 10. Agnieszka Radwanska (POL) 3170.-Agencies
Palestine, Pakistan football bout on 4th LAHORE: PFF announced Technical officials of Karachi match between Pakistan and Palestine. According to PFF Media Coordinator Rasheed Khan, the Karachi Test will be played at Mauripur Road's Peoples Sports Complex on Friday, 4 March (4 PM) with Ahmed Ali as Match Commissioner and Abdul Shakoor Baloch as Referee Assessor. The four officials who will step into field to supervise the match will be Rana Naseer Ahmed (Referee), Shahid Hussain and Shafaat Habib (ARs) and Rana Jehanzeb Tipu (4th Official). Naseer Ahmed was also in action when Lahore staged the last match of Pak-India Series 2005. He was assistant to Referee Asif Bin Younus, with Pakistan beating India 3-0 on 18 June 2005. Naseer, born at Sheikhupura on 1 June 1974, is one of among most skilful Pakistani Referees in FIFA list during last nine years. He was inducted in FIFA list in 2002 as Assistant Referee. He stayed until 2005, and was absent from list from 2006 to 2009.Agencies
World Cup Group A Match, Sri Lanka vs Kenya
SL fry minnows for lunch Malinga swings a second WC hat-trick against loser Kenya COLOMBO: Lasith Malinga turned into a one-man hit squad as he became the first man to pick up two World Cup hat-tricks to lead Sri Lanka to a crushing nine-wicket victory over Kenya Tuesday. Malinga, who missed his side's opening two matches with a sore back, fired back with the wickets of Tanmay Mishra (0), Peter Ongondo (0) and Shem Ngoche (0) with
successive, full deliveries, the latter two clean bowled. After finishing with a career best six for 38 to dismiss the Africans for 142, a relaxed Malinga sat back in the pavilion and watched his team mates chase down the score in just 18.4 overs. In 2007, Malinga grabbed four in a row against South Africa. It is the second hat-trick in
Have to keep the ball rolling: Afridi ISLAMABAD: Pakistan captain Shahid Afridi, who turned 31 on Tuesday underlined the need to maintain the high spirit and winning consistency in performance. According to sports24.co.za Afridi called upon his team mates to take every match seriously especially against a team with which we are not familiar. "We need to keep the momentum going in the Canada match because we still have a long way to go in the tournament," Afridi said. Afridi said the team was in high spirits after beating Sri Lanka. "We must show consistency because we are not known for that," said Afridi. "We had a very good win against Sri Lanka, so we want to keep the momentum going.
We should not be negative about anything and must make winning a habit. "We have to take every match seriously, more so against a team who we don't know," sport24.co.za quoted Afridi as saying. Left-arm spinner Abdur Rehman will sit out the Canada match after suffering a muscle injury against Sri Lanka, and is likely to be replaced by off-spinner Saeed Ajmal. In-form batsman Misbah-ulHaq, who scored 65 and an unbeaten 83 in the first two matches, is likely to be rested after suffering a minor hamstring problem. Asad Shafiq is expected to fill his place. However Canada captain Ashish Bagai said he was deeply unhappy with his
team's performances in the first two matches. "Definitely we are very very disappointed," said Bagai, after a 210-run loss against Sri Lanka and a 175-run mauling against Zimbabwe. "We had planned very well for the game against Zimbabwe, but we were not up to it." "We need to come back. Somehow it's us as a batting unit that's failing, that's the most disappointing part. It's our own mistakes which are going on again and again, so we have no choice other than to figure out what's going on. "It may be a lack of belief at the top order, that's something for us to get sorted out very quickly otherwise we will be in trouble against Pakistan," said Bagai.-APP
Jayawardene takes legal advice over TV claims
Liverpool suffer Kelly blow LONDON: Liverpool defender Martin Kelly has been ruled out for a month with a torn hamstring, the Premier League club said Tuesday. The 20-year-old, who has become a regular starter since Kenny Dalglish took over as manager in January, collapsed clutching his leg after a typical surging run in the first half of Sunday's 3-1 defeat to West Ham United. "Liverpool FC head of sports medicine and sports science Dr Peter Brukner has confirmed the defender is facing four weeks on the sidelines after assessing the injury at Melwood," the club said in a statement on their website (www.liverpoolfc.tv). The timing of the injury comes as a blow to the Reds who face Manchester United in the Premier League Sunday before a two-legged Europa League last-16 clash against Braga.-Reuters
two days at the World Cup after Kemar Roach took the last three Dutch wickets in West Indies' 215-run victory in Group B Monday. Kenya crumbled from a respectable 102-2 to 142 all out in 43.4 overs after choosing to bat first, with the Obuya brothers the only batsmen to reach double figures. A 94-run partnership between Collins Obuya (52 off
Recordboard Most Runs Players Strauss-England Sehwag-India Sangakkara-Sri Lanka
Mat 2 2 3
Runs 246 210 168
HS 158 175 92
Ave 123.00 105.00 84.00
SR 107.8 126.5 97.67
Ave 5.55 6.50 9.85
Econ 2.77 2.81 4.18
Most Wickets Players Shahid Afridi-Pakistan Mitchell Johnson-Australia Kemar Roach-West Indies
Mat 2 2 2
WKts BBI 9 5/16 8 4/19 7 6/27
COLOMBO: Sri Lanka batsman Mahela Jayawardene has taken legal advice over doubts raised on a state-run TV channel about the way he and another batsman performed in the World Cup defeat by Pakistan. Sri Lanka, who are one of the favourites to win the tournament, lost Saturday's Pakistan game by 11 runs as Jayawardene and Thilan Samaraweera were out for just two runs and one run respectively when the team was trying to accelerate the run rate against the powerful Pakistan bowling. State-owned Independent Television Network (ITN) in an analytical documentary aired on Sunday criticised several Sri Lankan players including Jayawardene and Samaraweera for their poor performance. Jayawardene when asked about the allegations before the Kenya match said he had consulted his lawyers over the matter. "The lawyers will decide what proper course of action should be taken," he told Reuters. ITN also accused a businessman of betting 2 million rupees ($18,053) on Pakistan's victory without giving any further details. "We are treating the matter seriously," said Nishantha Ranatunga, the secretary of Sri Lanka Cricket. In a statement, Sri Lanka Cricket later condemned the programme for "carrying a story that is baseless and thereby demoralising our players during the ongoing World Cup".-Reuters
100 balls) and his elder sibling David (51 off 106 balls) raised hopes that Kenya might cross the 200-run mark but Malinga turned into a one-man hitsquad. He got rid of Collins with a toe crushing yorker in the 32nd over before returning for his final spell to flatten the Kenyans with breathtaking pace as he bagged four wickets in five legal balls.-Reuters
WIndians drop Bravo, Samuels in next match NEW DELHI: West Indies approached Marlon Samuels, who served a two-year ban for links with an Indian bookmaker, to replace injured Dwayne Bravo in the World Cup squad, its cricket board (WICB) said on Tuesday. Bravo has been ruled out of the World Cup with a knee injury and uncapped Guyanese leg-spinner Devendra Bishoo will replace him in the squad. The WICB confirmed it had approached Samuels first. "Following the injury to Dwayne Bravo, the chairman of the West Indiesselection committee Clyde Butts held a discussion with Marlon Samuelsabout his possible nomination to replace Bravo," the WICB said in a statement.Reuters
COLOMBO: Sri Lankan batsman Kumar Sangakkara plays a shot during the ICC Cricket World Cup match between Sri Lanka and Kenya.-Reuters
Salman to attend hearing in London KARACHI: Tainted former test captain Salman Butt said he would be attending the hearing of the criminal charges brought against him and his two Pakistani teammates, Mohammad Asif and Mohammad Amir in London on March 17. Butt said in a statement that it was his intention to attend the hearing at the city of Westminster Magistrates court on March 17th. "My lawyer, Yasin Patel has advised me at this stage to make no further comments on the case due to the pending proceedings," Butt said in the statement. The Scotland Yard and Crown
prosecution office of the United Kingdom have charged the three banned Pakistani players of accepting bribes and trying to defraud after an initial inquiry that has lasted for some five months by the Scotland Yard. Butt also made it clear that he had exercised his right to appeal to the Court of Arbitration for Sport (CAS), with regards to the ten year ban (5 years suspended) handed to him by an ICC anti-corruption tribunal committee. Butt was suspended for 10years by the ICC tribunal on February 5 after being found guilty of spot-fixing stemming from the Lord`s Test against England last year.-Reuters
Part time bowling rescues Ashraful DHAKA: Mohammad Ashraful thought he had played his last innings in the World Cup before his part-time bowling gave him a new lease of life during Bangladesh's Group B must-win game against Ireland. Former skipper Ashraful, who was not selected for Bangladesh's opening match against India, was out for one run playing a suicidal sweep shot in an important stage of the innings, which put his future in doubt. As he trudged back to the pavilion, the 26-year-old feared that pens were already being sharpened to write his
one-day international obituary. His two wickets for 42 runs not only gave him the hope of reviving his one-day career but also helped Bangladesh win the game by 27 runs. "It was a very painful moment for me when I got out," Ashraful said in an interview on Monday as he reflected on the dramatic game three days earlier. "I thought maybe I played my last innings in this World Cup. I was really very disappointed." "But when I started warming up for fielding, our fielding coach and trainer cheered me up."-Reuters
SA’s Steyn sees the smartest surviving MOHALI: South African speedster Dale Steyn is convinced of the futility of sheer pace on sub-continent's docile tracks and predicted only the "street smart" fast bowlers will thrive at the World Cup. Steyn reckoned pace bowlers would end up being the cannon fodder if they just run hard and send down ball after ball at whatever pace they can muster on pitches that offer hardly any bounce. "You got to be street smart I suppose when you bowl in India," Steyn told reporters on Tuesday. "You can't bowl at the same pace at the same place. Guys will work you out. In my second over (against the West Indies), I was cut and then I changed from 140 kph to 120 kph. "You got to have better understanding, you have to be pretty smart," said the bowler who claimed three West Indian wickets in the Delhi match. "In South Africa, you can get away sometimes because of the bounce. You may get away with full wide balls. In India, it does not bounce and finds the middle of the bat and goes flying to point or extra cover for four. "In South Africa it might find the edge or may not find the bat, so you can get away with some bad balls."Reuters
World factory input costs rising sharply NEW YORK/LONDON: Factory input costs leapt across the globe in February, the latest sign of rising inflationary pressures, while U.S. and euro zone manufacturing grew at their fastest pace in years, surveys showed on Tuesday. British manufacturing also grew strongly, at its fastest in nearly two decades, and Indian factory growth accelerated. But in China, where authorities have raised rates and bank reserve requirements several times since last year, factory growth slipped to its slowest pace in six months. Overall, the February purchasing managers' indexes provide the latest evidence of growing inflationary pressure from a sharp rise in commodity prices. Crude oil prices hit 21/2 year highs last week on supply concerns after uprisings in Libya. "With the latest surge in commodity prices yet to fully feed through into consumer prices, inflation could well climb further in the next few months," said Martin van Vliet at ING. The output price index in the 17-nation euro zone hit a record high for the survey, which was conducted Feb. 11-21 before oil prices spiked again last week. The head of the International Monetary Fund, Dominique Strauss-Kahn, warned on Monday that global economic growth could suffer if the rise in oil prices continued for a long period. US Federal Reserve Chairman Ben Bernanke argued the recent surge in oil prices is still unlikely to have a big impact on the U.S. economy. A sustained rise in prices, however, could lead to weaker growth and higher inflation, he said. "The most likely outcome is that the recent rise in commod-
ity prices will lead to, at most, a temporary and relatively modest increase in U.S. consumer price inflation," Bernanke told the U.S. Senate Banking Committee. The U.S. manufacturing sector grew at its fastest rate since May 2004 in February, slightly above analysts' expectations, an industry report showed on Tuesday. Prices paid by manufacturers also rose, but less than expected . Official euro zone data also showed consumer prices rose 2.4 percent year-on-year last month, considerably above the European Central Bank's target of just below two percent. The European Commission upped its inflation forecasts for the bloc, now expecting prices to rise 2.2 percent this year compared to their previous 1.8 percent forecast. The ECB is not expected to exit from the ultra-loose monetary policy it adopted in the depths of the financial crisis when it meets on Thursday but economists expect an interest rate hike by the fourth quarter of this year. "February's flash euro zone CPI figures will do little to alter the ECB's recent rather more hawkish stance ahead of Thursday's Council meeting and press conference," said Jonathan Loynes, chief European economist at Capital Economics. The latest European PMIs also showed that manufacturing growth across the euro zone, which had previously been mainly driven by Germany's robust economic recovery, picked up in some economies on the periphery. In debt-stricken Ireland, manufacturing activity hit an 11-year high. China PMIs showed that manufacturing growth slipped
11
International & Continuation
Wednesday, March 2, 2011
to its slowest pace in at least six months, a sign that the government's campaign to tame inflation was having an effect. But gauges of factory input prices still hit three-month highs in both China's official PMI and a private-sector PMI sponsored by HSBC. Many of China's businesses were shut or running at half speed in the first part of February as China celebrated the Lunar New Year holiday, making it difficult to draw firm conclusions, though the PMIs are on a mild downward trend. Since October, when inflation began to pick up, China has raised banks' required reserve levels five times to a record high, increased interest rates three times, and also ordered banks to lend less. Lending by Chinese banks remains excessively fast, topping the "extreme upper limit" set by regulators, the country's banking chief said at an internal meeting at the start of this year, a source told Reuters on Tuesday. Raw material costs have risen broadly with oil. Worries abound that a sustained rise in commodity prices, from metals to grains, could reduce demand and slow economic activity around the world. India has the highest inflation of any major Asian economy even after seven rate increases in a year. Factory input prices there rose at the fastest pace since the records for the PMI began in 2005. "Manufacturers are facing ever steeper increases in input costs, reflecting the tightness of labour markets and rising material costs, which will continue to add upward pressure on output prices," said Leif Eskesen, chief economist for India and ASEAN at HSBC, which sponsors the index.-Reuters
Bank of Canada gives no hint of next rate hike OTTAWA: The Bank of Canada kept interest rates unchanged on Tuesday and gave no signal it plans to tighten soon, spurring traders to scale back rate hike bets and knock the Canadian dollar from a three-year high. The central bank repeated the exact language on rates from its January decision, saying that while considerable monetary stimulus remained in place "any further reduction in monetary policy stimulus would need to be carefully considered." It said the Canadian recovery was moving a bit faster than expected and hailed a budding recovery in net exports. But it cautioned that the sector "continues to face considerable challenges from the cumulative effects of the persistent strength in the Canadian dollar and Canada's poor relative productivity performance." Investors hoping for a hint that recent strong economic data would prompt the bank to resume rate hikes at its next decision date on April 12 were disappointed. The Canadian dollar weakened against the U.S. currency following the stay-the-course statement. "On balance, it suggests no imminent rate move," said Paul Ferley, assistant chief economist at the Royal Bank of Canada. Canada was the first of the major industrialized countries to start lifting rates from emergency lows last year, raising borrowing costs three times between June and September. The bank then moved to the sidelines, saying it needed more evidence the U.S. and global recoveries were gaining traction. After fourth-quarter economic growth came in stronger than expected at 3.3 percent and the U.S. economy showed signs of strength, many economists expected the Bank of Canada to signal plans to resume tightening monetary policy in coming months. -Reuters
CONTINUATION already difficult time for the people and the court should pass an order Continued from page 1 No #1 The Government of Pakistan has contributed Rs500 million and against the increase in petroleum product prices. On the other side, Pakistan Textile City had spent the initial paid up capital on the Karachi Transporters Ittehad has announced an indefinite strike against the increase in POL prices. Talking to private TV channel, acquisition of land and its development. President Karachi Transporters Ittehad Irshad Bukhari said that the Continued from page 1 No #2 public and transporters will suffer a lot due to the increase in petroleAnother company Karachi Electric Supply Co (KESC) has to um prices. He demanded that the political parties should play their role refund the amount of Rs5864 million as they purchased 2500 met- to force the government to reverse the decision of POL prices hike. ric ton furnace oil from Pakistan State Oil. Irshad Bukhari said that the transporters will completely support the The amount also includes previous deposit claim. The supplies political parties if they call for strike against increase in POL prices. of oil to KESC have been made according to final settlement of Continued from page 1 No #6 accounts. A consortium AES comprising of two companies The court ordered the FIA to submit its daily report of the Hajj Lalpeer Power Production Plant and Pakgen Power Company have to pay nothing to PSO as they purchased 12717 metric ton scam case in the chamber of Justice Raja Fayyaz. The CJ ordered oil on cash payment. Similarly some other IPPs including the FIA to act against Member National Assembly Imran Shah for Kohinoor Energy, Southern Electric, Japan Power, Saba Power, leveling fake charges at Abdul Qadir Gilani. Chief Justice Atlas Power Limited, Tapal Energy and Gull Ahmed purchased expressed annoyance with ex-minister Azam Swati over failure to provide evidence to the court in Hajj corruption scam. The CJ 3759 metric ton furnace oil from PSO on cash basis. -Online remarked that the government was creating hurdles in court's Continued from page 1 No #3 work. The hearing was adjourned for two weeks. -Agencies Stock Markets besides the managing directors of state sector gas supply companies in the country and other relevant government offiContinued from page 1 No #7 cials. The President said the gas supply issues raised by the labour "It is preferable to sit in Opposition", he added, "rather than in Punjab must be looked into on priority basis and their com- indulging in politics in contravention to the trust reposed by the plaints addressed forthwith. The PPP is a Party of the labour and people and get involved in the game of interests." the problems and issues of working classes must be addressed He said that all the members of the Cabinet including the urgently, he said. The President said that the textile industry was women are directly elected members of the Parliament. He said critical for the country's economy and that it must not be allowed that size of the Cabinet has been reduced to demonstrate practicalto suffer on account of gas supply problems. On the othere hand, ly the seriousness of the government towards implementation of chairman APTMA Gohar Ejaz, Chairman APTMA Punjab Bashir the 18thAmendment in the letter and spirit. He urged the political and Chairman KIA Faisalabad Azhar Majeed jointly told media forces of the country to set examples by following the true demoafter a meeting presided by President Asif Ali Zardari at Bilawal cratic norms and values. Jamshed Dasti exchanged views on the House here that the President was not happy over the gas load prevailing political and economic situation in the country. shedding for industry and instructed the utility companies to He also introduced to the Prime Minister, Abdul Basit who ensure uninterrupted gas supply to textile sector for five days. has represented Pakistan in Rugby at various international They said that the President has said that he would not let the events. Prime Minister lauded Abdul Basit and urged him to industry close down and assured that no worker would be unem- work hard for improving his game. He also directed that propployed due to gas load shedding. Ejaz said that 150 million cubic er job may be provided to the player at the earliest. Riaz Pirzada feet of gas per day would be supplied to textile sector to make the discussed the problems and issues of his constituency. He also total supply of 300 mmcf per day He said the total demand of tex- informed the Prime Minister about the progress upon the ongotile sector was 400 mmcf per day and the resumption of gas will ing development projects in his area.-NNI normalise production process in the country. Representatives of Continued from page 12 No #8 fertiliser sector Arif Habib and Aqeel Karim Dedhi told newsmen that President Zardari has directed to resume gas supply to value Meanwhile addressing the workers of Karachi division, Nawaz added and fertiliser sectors on immediate basis. Sharif said that target killers who have been nabbed in Karachi their accountability should be held. Karachi is Pakistan's hub and Continued from page 1 No #4 mini Pakistan and establishment of peace in the city is vital. He The board rebated Rs64.853 billion from July-February and said we are against ethnics and are for national unity. Rs5.631 billion during the month of February. Talking to APP, He demanded a judicial enquiry into the May 12 mayhem Additional Secretary FBR, Asrar Rauf said that there was over 27 Leaders of PML-N Iqbal Zafar Jhagra, Ghaus Ali Shah, Anousha per cent growth in the revenue collection on exports as the tax on Rehman, Muhammad Sadiqe ul Faroq, Khwaja Imran and other exports increased from Rs9 billion in July-January (2009-10) to attended the meeting. Furthermore, Mian Sharif said those arrestRs12 billion during the first seven months of this fiscal year. ed on charges of target killings and plotters of May 12 carnage He said that taxes on imports have also witnessed 23 per cent should be held accountable. Nawaz said despite using Sindh Card growth till January 2011 by growing from Rs27 billion last year for its interests, the Pakistan Peoples Party led government paid no to Rs34 billion this year. Similarly the taxes related to the telecom heed to development of the province and Sindhi people were kept sector also increase by 19 per cent during the period, Rauf said, in dark about their basic rights. He said people of Sindh have adding taxes in this sector increased from Rs12.8 billion to over always preferred national interest over personal and party interests Rs15 billion. However, he said that there has been fall of 9 per and the PML-N highly esteems their sacrifices. He said the PMLcent in PSDP related taxes which he said have gone down from N while keeping in view the sacrifices rendered by Sindhi people Rs48 billion last year to Rs44 billion this year. -APP would spare no efforts for development of the province and raising their living standard after coming into power. -Agencies Continued from page 1 No #5 court challenging the decision to increase the petroleum product Continued from page 12 No #9 prices. His stance was that the increase is an added burden in an Commenting on the petroleum products price hike, MNA Farah
Bernanke sees little effect on US from pricey oil WASHINGTON: The recent surge in oil prices is unlikely to have a big impact on the U.S. economy, but could dampen growth and raise inflation if sustained, Federal Reserve Chairman Ben Bernanke said on Tuesday. Offering no hint that he was considering cutting short the Fed's $600 billion bond-buying stimulus, Bernanke told the Senate Banking Committee he saw increasing evidence that the U.S. economic recovery was becoming self-supporting. At the same time, he warned job growth remains far too anemic. "We do see some grounds for optimism about the job market over the next few quarters," Bernanke said, citing a steep recent decline in the jobless rate among other factors. The economy expanded at just a 2.8 percent annual pace in the fourth quarter and the job-
less rate stood at an elevated 9 percent in January. While hiring appears to be picking up, the pace is too slow to make much of a dent in unemployment. "Until we see a sustained period of job creation, we cannot consider the recovery to be truly established," Bernanke said in remarks prepared for delivery to the panel. U.S. stocks were little changed after the release of Bernanke's testimony and a report showing growing strength in the U.S. factory sector. U.S. government bonds pared losses. "No major changes in tone," said Andrew Tilton, economist at Goldman Sachs. The Fed will most likely complete its bondbuying program over the next few months and then call it a day, he said. "The bar is pretty high," for either curtailing bond buys or
expanding the program, Tilton said. Bernanke said downside risks to growth had diminished, and stated for the first time that the risk of deflation -- a key justification for the Fed's bond-buying spree -- was now "negligible." At the same time, Bernanke did not appear concerned that a recent spike in the price of crude oil, driven in part by a wave of pro-democracy revolutions in the Middle East and North Africa, would do much harm to the U.S. economic outlook. Crude oil prices briefly surpassed $100 a barrel in late February but have since come down to around $98. Bernanke said the Fed expects inflation to remain low and that long-term inflation expectations appear contained, both according to market indicators and surveys of consumers.-Reuters
Naz Isfahani urged the political figures not to make irresponsible statement on the issue. She said that the government was fully committed to bring inflation under control and it had constituted a parliamentary committee comprising representatives from political parties to review the existing petroleum prices mechanism. -APP
Continued from page 12
No #10
Foreign Office also said that embassy officials had been sent to the Libyan border to receive arriving Pakistanis. -Online
Continued from page 12
No #11
"The situation is nervous," said Salah, a 35-year-old doctor at one bread shop where about 15 people were queuing outside. "Of course I am worried. My family is afraid. They are waiting at home. We have been hearing gun-fire. "But the people are together. I hope the situation calms down. I am 35 and this is the first time I saw something like this in Libya. It is very scary." A resident in the rebel-held town of Zawiyah, 50 km west of Tripoli, told Reuters by telephone that there had been a low-key skirmish with pro-Gaddafi forces on the outskirts of the town overnight but that the situation was now calm. "Our guys opened fire at a checkpoint. They (pro-Gaddafi forces) ran away. We have their anti-aircraft gun and many Kalashnikovs, which they left. Three soldiers died on their side," said the resident, who did not want to be identified. The United States said on Monday it was moving ships and planes closer to the country and British Prime Minister David Cameron said his government would work to prepare a "no-fly" zone to protect the Libyan people. Despite his continued hold on Tripoli, his last remaining stronghold and home to more than 1.5 million people, Gaddafi's power to influence events in his vast desert country has shrunk dramatically in the past two weeks. "Gaddafi is finished if he does it (military attack) and finished if he doesn't. In both cases he is very vulnerable," said UK-based Libyan activist and editor Ashour Shamis. In another potential blow to Gaddafi, Libya's National Oil Corporation said Libya's oil output had halved because of the departure of oil workers, although installations were undamaged and NOC was still overseeing Libya's oil production and exports. Regional experts expect rebels eventually to take the capital and kill or capture Gaddafi. He denied using his air force to attack protesters but said planes had bombed military sites and ammunition depots. He also denied there had been demonstrations and said young people were given drugs by al Qaeda and therefore took to the streets. Libyan forces had orders not to fire back at them, he said. Some see Gaddafi's many media appearances as an astute attempt to use Western satellite television channels to remind a global audience he remains in charge and thereby undermine any notion that his authority is ebbing. "There's a battle going on for the narrative," said Shashank Joshi, an analyst at Britain's Royal United Services Institute. "Gaddafi, his sons, and associates have been directly ordering killings on Libyan television channels," they said. -Agencies
Continued from page 5
No #12
in the December quarter from a year earlier, government data on Monday showed. Despite absence of key reforms in the annual budget, there was optimism as the finance minister raised the foreign investment limit in corporate infrastructure bonds by $20 billion, and announced new infrastructure debt funds. On Tuesday, financial stocks rose as investors set aside worries of further interest rate hikes. Largest lender State Bank of India rose 2.9 per cent, while private sector peers ICICI Bank and HDFC Bank gained 5.7 per cent and 4.2 per cent, respectively.-Reuters
Continued from page 5
No #13
Capital expenditure during the half year was Rs4.9 billion compared to Rs2 billion same period last year. Addition to operating fixed assets was Rs3.7 billion versus Rs1.9 billion for the corresponding period. The capital expenditures were made as planned and higher level of capitalisation of up to Rs7 billion is likely to be achieved by the year end which is likely to bode well for the Company. During the half year, SSGC extended 111 new industrial connections, 809 commercial and 49,576 domestic connections. The gas distribution system was extended by over 1,032 km while another 151 km of distribution lines were laid under the rehabilitation projects to curtail leakages and lines losses.
Continued from page 5
No #14
supply from Saudi Arabia, which holds most of the world's spare crude output capacity. The wider fear is that sustained higher oil prices could dampen global growth. The FTSE 100 closed down 58.25 points at 5,935.76 after trading as high as 6,040.43 earlier. Volumes on the benchmark were about 109 per cent of its 90-day daily average. Index heavyweight HSBC shed 3 per cent in strong volume after brokers Deutsche Bank and UBS downgraded their ratings. Tuesday's fall extended the previous session's 4.7 per cent drop after HSBC cut profitability targets and its annual profits fell short of expectations. "The results are not that bad to warrant such a big drop in the share price ... The shares are coming back to reasonable valuation levels," a dealer said, adding that he was looking to buy at a price range of 650 to 665 pence. HSBC shares are approaching oversold territory, with the 14-day relative strength index (RSI) reaching 36.1. Thirty and below is considered oversold.-Reuters
Continued from page 5
No #15
a positive factor for the Nikkei because it underpins the money shift into the Tokyo market and can lifted the mood of consumers by spurring demand.-Reuters
Continued from page 5
No #16 Kohat Textile Metro Steel Moonlite (PAK) Mustehkam Cement N. P. Spinning Nishat (Chunian) Pak Modaraba Pak Synthetics Redco Textile Saif Textile Saritow Spinning Service Textile Sind Fine Textile Telecard Limited Tri-Star Mutual Tandlianwala Sugar
No #17
Half Half Half Half Half Half Half Half Half Half Half Half Half Half Half
Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly Yearly 1st Qtr
-
32.61 -21.74 -8.55 -171.50 44.72 518.94 3.41 175.36 4.19 267.53 32.82 2.30 -1.00 226.90 3.76 52.60
1.57 -0.70 -3.96 -4.11 3.04 3.25 0.27 3.13 0.09 10.13 2.47 0.52 -0.44 0.76 0.75 0.45
Continued from page 5
Technical analysts at Nomura International see the initial resistance for the China Enterprises Index between the 12,616 to 12,705 level, a range covering a trendline resistance in place since the January peak and the 50-day moving average. The index closed at 12,620.3 on Tuesday and a break above this region on good volume would pave the way for retest of the January high of 13,300, they said. Disappointing earnings report from banking giant HSBC Holdings hit its shares, which had seen heavy buying interest ahead of the results, sending them as much as 5.1 per cent lower to a one-month low. Traders at a large US investment bank said retail investors, who had sizeable exposure in the stock as it significantly outperformed the broader market so far this year, dumped warrants. -Reuters
No #18
Continued from page 5
Consumer staples Wal-Mart Stores Inc and Coca-Cola Co helped shield the Dow. Wal-Mart rose 0.8 per cent to $52.41, while Coca-Cola was up 1.9 per cent to $65.12. Stocks have taken their cue from oil since the start of turmoil in the Middle East and North Africa in January. The S&P had its weakest performance since November last week, but still had tallied three months of gains. "We are continuing to focus heavily on what's happening to oil prices and oil supply," said Joe Battipaglia, market strategist at Stifel Nicolaus in Yardley, Pennsylvania. -Reuters
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12
Wednesday, March 2, 2011
Sharif wants accountability of the corrupt
FWO workers abducted
Fuel price raise draws ‘N’ flak
Rs8mn ransom demanded
LAHORE: Quaid Pakistan Muslim League-(N) Mian Nawaz Sharif has rejected the recent hike in petroleum rates and demanded of the government to eliminate corruption, poverty, unemployment, tax evasion, control soaring rates and give subsidy on diesel and petrol. Addressing to consultative meeting regarding reorganisation of PML-N here in Model Town Tuesday, chief PML-N Nawaz Sharif said recent rise in petroleum rates is not acceptable. The meeting was attended by PMLN workers from Karachi, and Larkana Division. He further said that PPP is still following the dictator's policies while made wrong promises and agreements with PML-N, added no compromise would be made regarding people's problems. He said that dictator gave gifts of corruption, drone attacks and terror-
ism to the nation. He said that restoration of judiciary is a miracle. He promised that after coming into power, PML-N would compensate all deprivation of the masses while education network would be spread in all over the Sindh because Sindh is den of our culture and civilisation. On this juncture, he further promised that industrial zones would be set up in Sindh for economic development of the province. The former prime minister said that the Sindh was deliberately kept backward but his party would eliminate the miseries of Sindhi people. Sharif said that he would bring educational prosperity in the province again. The PML-N leader said that if those who disrupted Karachi's peace were punished, the situation would be normal in Karachi today. See # 8 Page 11
POL Prices
Jan spreads up 32bps YoY
Despite hike, Rs5bn/month subsidy still on ISLAMABAD: Subsidy to the consumers on petroleum products will cost Rs5 billion per month to the government exchequer despite raise of 9.9 per cent in their prices for the current month. "The government will continue to lose Rs5 billion per month for not fully passing the effect of the rise in the petroleum products prices at international market to the consumers," said an official of the Oil and Gas Regulatory Authority (OGRA). "The government was making allout efforts to extend relief to the masses but the steep rise in petroleum products' prices at international oil market forced the authority to raise the same here," the official told APP. He said that the Federal Government had kept the prices at November 2010 level for four months which cost Rs13
billion to the national exchequer. "If the prices continue to remain unchanged even for March 2011, the national kitty will have to lose revenue of upto Rs30 billion," he said. The Ogra's official said that the prices of Arab Gulf Petroleum products had increased up to 27 per cent from November 2010 but the domestic prices had been adjusted by 9.9 per cent only. "From November 1, 2010 to March 1, 2011 the prices of kerosine oil, high speed diesel, petrol and furnace oil in international market had risen by 25.8 per cent, 24.8 per cent, 23.4 per cent and 27.3 percent respectively", he said, adding it was apparent that how much the government was sincere in providing relief to the people. See # 9 Page 11
Libya-unrest
174 Pakistanis fly back home safely People complain embassy's non-cooperation LAHORE: The Pakistani nationals who came back from Libya have complained of the Pakistan embassy's non-cooperation during the difficult time when they were stranded in the strife-torn country. A Turkish Airlines flight landed at the Lahore Airport on Tuesday with 174 Pakistanis evacuated from Libya. The passengers said they were evacuated via Turkish Airlines but the Pakistani embassy in Libya did not cooperate with them. They were sitting hungry and thirsty at the airport for the last three days, the passengers added. Some of them said that they were even tortured in Libya. Provincial Minister Chaudhry Abdul Ghafoor received the passengers, and they were seen off to their hometowns in buses provided by the
WANA: Taliban militants in North Waziristan tribal region have demanded ransom for the release of two army contractors. The militants kidnapped two contractors of the Frontier Works Organization (FWO), a construction and military engineering administrative branch of the Pakistani Army, in South Waziristan tribal region in December last year. The militants shifted them to North Waziristan, their stronghold near the Afghan border, officials from security force said. Tribal elders had series of meetings with the militants but they had demanded a ransom of 8 million rupees for the release of FWO workers.-NNI
Punjab Government. On Monday, Pakistan finally joined the long list of countries undertaking mass evacuations of their nationals from turmoil-hit Libya by arranging two chartered flights. "Our Missions in the region have clear instructions from the Foreign Ministry to facilitate early and safe repatriation of Pakistani expatriates to Pakistan," Pakistan's Foreign Office spokesperson said in a statement. The Pakistan embassy officials are working with the local authorities in Tunisia, Algeria, Egypt and Turkey to ensure prompt repatriation, especially of those Pakistanis who have arrived without proper documentation and passports, the statement added. See # 10 Page 11
Ghulam Raza Rajani KARACHI: State Bank of Pakistan released lending and deposit rates of the banking system for the month of January 2011. Banking spreads rose 32bps to 7.57 per cent compared with 7.25 per cent in December 2010. The main reason for increase in spread remained higher lending rate which increased by 24bps on yearly basis to 13.59 per cent from 13.35 per cent in same period last year. On the other hand, deposit cost declined 8bps YoY to 6.02 per cent in January 2011 against 6.10 per cent in January 2010, thus reflecting ample liquidity in the market. On the other hand, spread on month on month basis fell by 4 bps where they were 7.61 per cent in December 2010. Cost of deposits increased by 11bps at 6.02 per cent while they were 5.91 per cent in previous month. Likewise, lending cost gone up 7bps on monthly basis to 13.59 per cent.
PIA passenger held in UK MANCHESTER: A passenger was offloaded from Pakistan International Airlines (PIA) flight on bound to Islamabad from Manchester and was arrested for undisclosed reasons. According to a private TV channel, airport security called back the plane from runway when it was ready to takeoff and arrested a man who was identified as a Kishwar Khan from PIA flight PK 702. As per sources, airport security called back the plane due to negligence of PIA crew because PIA staff offloaded the bag of another man instead of Kishwar Khan. -Agencies
Gaddafi deploys forces as pressure raised
World turns the screws on Libya TRIPOLI: Libyan leader Muammar Gaddafi despatched forces to a western border area on Tuesday in defiance of Western military and economic pressure, stirring fears that the bloodiest Arab revolt may grow more violent. As the West weighed military options, suspicions grew that the veteran leader, in power for 41 years, did not grasp the strength of the forces now gathering against him. In Moscow, a Kremlin source suggested Gaddafi should step down, calling him a "living political corpse who has no place in the modern civilized world," Interfax news agency reported. But Gaddafi appeared oblivious
to outside pressure. "All my people love me. They would die to protect me," he told the US ABC network and the BBC on Monday, dismissing the significance of a rebellion against his 41year rule that has ended his control over much of eastern Libya. Barely 12 hours after the United States said it was moving warships and air forces closer to the north African oil exporting country, Libyan forces re-asserted their presence at the remote Dehiba southern border crossing on Tuesday, decorating the border post with green Libyan flags. Reporters on the Tunisian side saw Libyan army vehicles, and soldiers armed with Kalashnikov rifles.
The previous day, there was no Libyan security presence at the border crossing. Dehiba is about 60 km (40 miles) from the town of Nalut. In another part of the west, residents said pro-Gaddafi forces deployed to reassert control of Nalut, about 60 km from the Tunisian border in western Libya, to ensure it did not fall into the hands of anti-Gaddafi protesters. Around the Libyan capital there were queues outside bread shops on Tuesday morning. Some residents said many bread shops were limiting the number of loaves customers could buy, forcing people to visit several to get needed supplies. See # 11 Page 11
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LAHORE: Pakistanis returned from Libya standing at Lahore Airport. -Online
Chidambaram says will allow Pak panel if they allowed ours
India seeks Pakistan reply on 26/11 probe NEW DELHI: India is awaiting a reply from Pakistan on its request to send a team there to question some suspects in the Mumbai terror attack case before it decides on allowing a Commission from Islamabad, Home Minister P Chidambaram said on Tuesday. Addressing his monthly press conference, he said India has asked Pakistan to allow a team to question some people there suspected to be involved in the
26/11 Mumbai carnage. "We are awaiting an answer for the question that we have put forth," Chidambaram said. He added that the documentary evidence which Pakistan wanted from India will be provided to them in the next few days. Home Minister said in-principle India has agreed to allow a commission from Pakistan to visit here in connection with the 26/11 investigations. "We just agreed to allow a
commission to come to India to record the evidence of the Investigating Officer, the Magistrate, who recorded the statements, and some doctors, who conducted the post mortem. We are awaiting a reply to our questions," Chidambaram said. To a question, he said "It does not mean one way or the other. We will take a view once we get a final and firm answer." Agencies